Ethical Issues In Enron

On October 24 of 1929, otherwise known as Black Thursday, a record 12,894,650 shares were traded. Investment companies went into scramble as they tried to balance the market. However, the next week, on “Black Tuesday”, the stock market had officially collapsed. By then, around 16,410,030 shares were traded in the New York Stock Exchange. Billions of dollars were lost and many citizens jobs were affected from the collapse.

In Rockefeller’s mind, however, he was not being unfair he; was rather just using effective business techniques. After a woman named Ida Tarbell accused Rockefeller of such things by saying: “He has manipulated railroad rates to allow him into the market, but then raised them to keep his competitors out. His company also lowered his prices to run the competition out of business and raised them when his company had no competition in order to create a monopoly. I am by no means against your success, Mr Rockefeller; but I am against your greed and unfair methods”(“Interview”). Rockefeller then responded to these accusations by saying: “I see nothing wrong with what I’ve done, these are just highly effective tactics, not unfair tactics; she is just a misguided woman”(“Interview”).

I find it difficult to believe that the managers were not aware of the reoccurring fraudulent activities. A bank’s work environment is highly commensurate with that of a sales environment. Banks often have sales objectives aimed at credit cards, lines of credits, mortgages, and more. Therefore, with my experience working in the sales industry, I imagine that there are unattainable sales goals that are set and managers create pressure onto the employees to hit unrealistic sales goals. The agency problem plays a significant role since managers know that if their branch hit their sales goals it looks good to upper management, thus creating job security with the company.

Although there are many memorable events of Reagan’s presidency, such as the removal of the Berlin Wall and the assassination attempt, there are also numerous political and economic legacies that resulted from his term in office. Three main legacies of Ronald Reagan’s presidency involve his foreign policy, judicial system reform, and economic growth policy. One legacy of Ronald Reagan is his foreign policy. Ronald Reagan made a strong entrance onto the world stage when he was inaugurated on January 20, 1981. In fact, on the same day that he was elected, fifty-two American citizens who were being held hostage in Iran were released.

On October twenty-ninth, 1929, investors on Wall Street traded about sixteen million shares in a single day on the New York Stock Exchange. Billions of dollars were lost that day causing thousands of investors to be wiped out. This day would come to be called "Black Tuesday." After Black Tuesday the economic state of America and the rest of the industrialized world took a turn for the worse. The ten years after the stock market crash was the deepest and longest lasting economic depression in history up to that time know as the Great Depression.

Franklin D. Roosevelt was elected president on March 4, 1933. Being at the height of the depression, Roosevelt’s goal was to reform the nation’s economy. He introduced this in his “New Deal” plan. While his plan was unclear, the nation still saw him as a beacon of hope at the depth of the depression. To pull off his “New Deal”, Roosevelt hired many political advisors, including Francis Perkins, the first woman ever to be elected into a presidential cabinet.

The Great Depression was the worst collapse in American economic history. Most people believe that it was caused by a crash in the stock market, but that’s not all. The culture and events that occurred after the Great War and the 20’s resulted in the crash. Many people fell into debt and lost their houses and became poor. People that once thought they had everything had nothing.

Finally, Herbert Hoover made the Hoover Dam in 1931, to control flooding and generate electricity in the area. The Stock market Crash was one of the causes of the Great Depression. One cause of the Stock Market Crash was the stock exchange. This led thousands of Americans to invest in stocks and lose money.Many Americans borrowed money from the bank to buy stocks. Most of the time, people who lost money were unable to pay the banks back their debt; which caused banks to fail.

A) Introduction Unethical behaviors in business affect everyone since you either work in the field or are a consumer of its services. Unfortunately, almost every company usually has individuals who act unethically whether it is for their personal benefit or for the sake of the company they work for. Unethical behaviors in business might be as simple as using company property or funds for personal gain to inside trading and financial fraud. According to The Chartered Institute of Management Accountants, nearly one third of business professionals feel pressured to compromise their ethical standards and are increasingly pushed towards unethical behavior. Moreover, “misconduct is common and accepted by business services professionals, the integrity of entire economic systems is at risk”, states Jordan A. Thomas, partner and chair of the Whistleblower Representation Practice at Labaton Sucharow law firm.

A scandal will be in the news and the stocks will fall for that specific company. However, judging by the nature of these corporations: oligopoly in an industry that has a very high cost of entry and high rate of bankruptcy, Apple and other tech giants are here to stay and they cannot fail. Because in which case, where will the people get their source of high end tech products that are well-designed and functional by a team of highly trained professionals. There is a reason why Apple and Google survives the scandals. First, technically they have ties that can clean up or just pay settlements for lawsuits from their huge assets.