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Essay / Research Paper Abstract
A 5 page paper discussing the problems faced by Enron in the early days of the unfolding of the scandals that would end its existence. “Integrity … is what you do when nobody's looking” (Fisher, 2002; p. 40). Whatever the problems at Enron finally are revealed to have been, the fact is that now the company’s continued existence is threatened and Congress is eager to have individual turns at former CEO Lay and other current and former members of senior management. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSenronEcon.rtf
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Unformatted sample text from the term paper:
you do when nobodys looking" (Fisher, 2002; p. 40). So says Harvin Moore III, Houston realtor, ex-con and former partner in Houston savings and loan MeritBanc in the 1980s.
He and his partner each spent two years in federal prison for their part in a fraudulent scheme in the savings and loan scandals of the 1980s; he says
he can see the Enron debacle unfolding in the same manner. Whatever the problems at Enron finally are revealed to have been, the
fact is that now the companys continued existence is threatened and Congress is eager to have individual turns at former CEO Lay and other current and former members of senior
management. Company Description Active in the Utilities sector of the economy, Enrons industry officially is
Natural Gas Utilities. The company "makes markets in electricity and natural gas, delivers energy and other physical commodities, and provides financial and risk management services" (Enron, 2002). Of
course the company effectively collapsed in December 2001, and the fate of the resulting fallout is not yet known. For a
company that essentially is a member of the walking dead, it paradoxically experienced a rise in revenues for the nine months ended September 30, 2001. In those nine months,
revenues more than doubled, increasing from $59.89 billion to $138.72 billion in the period (Enron, 2002). Enron did not share this windfall with its shareholders, however. On those
revenues of $138.72 billion net income applicable to common stock (i.e., that portion of the companys revenue subject to dividend payment) fell 80 percent to $145 million. "Revenues reflect
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