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Author: Harold Bierman Publisher: World Scientific ISBN: 9812790314 Category : Business & Economics Languages : en Pages : 215
Book Description
1. The Enron success and failure -- 2. Enron as of 31 December 2000 -- 3. First six months of 2001: before the storm -- 4. Sherron Watkins' letter to Kenneth L. Lay -- 5. The clouds burst -- 6. The 100-year flood -- 7. JEDI and Chewco: not the movie -- 8. LJM1 and rhythms -- 9. LJM2 and Raptors I and III -- 10. LJM2 and Raptors II and IV -- 11. Other transactions -- 12. The collapse -- 13. The indictment of lay and skilling -- 14. The trial -- 15. A slice of the Skilling-Lay trial -- 16. The Skilling-Lay trial: fair or foul? -- 17. Mark to market accounting: feeding the growth requirement -- 18. Concluding observations
Author: Harold Bierman Publisher: World Scientific ISBN: 9812790314 Category : Business & Economics Languages : en Pages : 215
Book Description
1. The Enron success and failure -- 2. Enron as of 31 December 2000 -- 3. First six months of 2001: before the storm -- 4. Sherron Watkins' letter to Kenneth L. Lay -- 5. The clouds burst -- 6. The 100-year flood -- 7. JEDI and Chewco: not the movie -- 8. LJM1 and rhythms -- 9. LJM2 and Raptors I and III -- 10. LJM2 and Raptors II and IV -- 11. Other transactions -- 12. The collapse -- 13. The indictment of lay and skilling -- 14. The trial -- 15. A slice of the Skilling-Lay trial -- 16. The Skilling-Lay trial: fair or foul? -- 17. Mark to market accounting: feeding the growth requirement -- 18. Concluding observations
Author: William A. Niskanen Publisher: Rowman & Littlefield ISBN: 9780742544345 Category : Business & Economics Languages : en Pages : 414
Book Description
After Enron addresses the major lessons about accounting, auditing, taxation, and corporate governance that are illustrated by the collapse of Enron and other recent major corporate scandals. The book then develops a set of proposals for changes in public policy that would lead accountants, bankers, board members, lawyers, and corporate managers to better serve the interests of the general public.
Author: Malcolm S. Salter Publisher: ISBN: Category : Languages : en Pages : 56
Book Description
This paper presents a brief historical overview of Enron's rise and fall and summarizes what the authors currently know about (1) the evolution of Enron's business model, (2) those organizational processes relied upon by senior Enron officials to drive and monitor the business, (3) emergent behavior related to the structuring, management, and valuation of major partnerships, and (4)oversight provided by Enron's management and board of directors. It concludes by posing the question of how Enron's story as anew, post-deregulation corporate model could have escaped critical analysis by the financial community, the business press, and other observers for so long. As such, this paper is an exercise in description, not interpretation. Since many of the facts about Enron's rise and fall have yet to be determined and agreed upon, this description must be considered tentative and incomplete. Nevertheless, the broad contours of the Enron story presented in this paper provide a sufficient basis for developing initial hypotheses about what might have caused such a swift and ignominious fall and what business and public policies might best protect employees, shareholders, and other relevant parties in the future from the kind of injuries experienced in Enron's swift decline into bankruptcy.
Author: Mimi Swartz Publisher: Currency ISBN: 076791368X Category : Business & Economics Languages : en Pages : 434
Book Description
“They’re still trying to hide the weenie,” thought Sherron Watkins as she read a newspaper clipping about Enron two weeks before Christmas, 2001. . . It quoted [CFO] Jeff McMahon addressing the company’s creditors and cautioning them against a rash judgment. “Don’t assume that there is a smoking gun.” Sherron knew Enron well enough to know that the company was in extreme spin mode… Power Failure is the electrifying behind-the-scenes story of the collapse of Enron, the high-flying gas and energy company touted as the poster child of the New Economy that, in its hubris, had aspired to be “The World’s Leading Company,” and had briefly been the seventh largest corporation in America. Written by prizewinning journalist Mimi Swartz, and substantially based on the never-before-published revelations of former Enron vice-president Sherron Watkins, as well as hundreds of other interviews, Power Failure shows the human face beyond the greed, arrogance, and raw ambition that fueled the company’s meteoric rise in the late 1990s. At the dawn of the new century, Ken Lay’s and Jeff Skilling's faces graced the covers of business magazines, and Enron’s money oiled the political machinery behind George W. Bush’s election campaign. But as Wall Street analysts sang Enron’s praises, and its stock spiraled dizzyingly into the stratosphere, the company’s leaders were madly scrambling to manufacture illusory profits, hide its ballooning debt, and bully Wall Street into buying its fictional accounting and off-balance-sheet investment vehicles. The story of Enron’s fall is a morality tale writ large, performed on a stage with an unforgettable array of props and side plots, from parking lots overflowing with Boxsters and BMWs to hot-house office affairs and executive tantrums. Among the cast of characters Mimi Swartz and Sherron Watkins observe with shrewd Texas eyes and an insider’s perspective are: CEO Ken Lay, Enron’s “outside face,” who was more interested in playing diplomat and paving the road to a political career than in managing Enron’s high-testosterone, anything-goes culture; Jeff Skilling, the mastermind behind Enron’s mercenary trading culture, who transformed himself from a nerdy executive into the personification of millennial cool; Rebecca Mark, the savvy and seductive head of Enron’s international division, who was Skilling’s sole rival to take over the company; and Andy Fastow, whose childish pranks early in his career gave way to something far more destructive. Desperate to be a player in Enron’s deal-making, trader-oriented culture, Fastow transformed Enron’s finance department into a “profit center,” creating a honeycomb of financial entities to bolster Enron’s “profits,” while diverting tens of millions of dollars into his own pockets An unprecedented chronicle of Enron’s shocking collapse, Power Failure should take its place alongside the classics of previous decades – Barbarians at the Gate and Liar’s Poker – as one of the cautionary tales of our times.
Author: Christopher L. Culp Publisher: John Wiley & Sons ISBN: 0471474142 Category : Business & Economics Languages : en Pages : 353
Book Description
Das Scheitern von scheinbar grundsoliden, unerschütterlichen Unternehmen wie Enron haben nicht nur zu großen Missverständnissen über die Märkte geführt, sondern auch zu übereilten Forderungen nach strengeren Vorschriften. "Corporate Aftershock" ist eine fundierte Antwort auf die zahlreichen Vorschläge, Derivate und andere Finanztransaktionen als Folge des Zusammenbruchs von Enron, zu beschränken. Der Band präsentiert eine stichhaltige Analyse der Situation der Public Policy nach dem Enron Debakel. Er erläutert, was wahrscheinlich passieren wird und geht auch darauf ein, was aus Sicht einer ausgewogenen Wirtschaftsanalyse passieren sollte. Autor Christopher Culp ist ein anerkannter Experte auf diesem Gebiet. Er ist Managing Director von C.P. Risk Management LCC, Adjunct Associate Professor of Finance an der Graduate School of Business der Universität von Chicago sowie Gastprofessor für 'Risk and Insurance' am Institut für Finanzmanagement der Universität Bern.
Author: Denis Collins Publisher: Dog Ear Publishing ISBN: 1598581600 Category : Bankruptcy Languages : en Pages : 240
Book Description
Behaving Badly: Ethical Lessons from Enron puts the reader in the shoes of Enron executives through the journey of the once prominent and now infamous company. Enron began as a newly merged firm in 1985 with too much debt, rose on Wall Street during the 1990s, and collapsed in December 2001. This is the first book to treat Enron's financial problems as complex ethical issues managers may face daily - often without recognizing them as such. Key decisions are presented in real-time from several perspectives, including those of Lay, Skilling, Fastow, board members, auditors, lawyers, and investment bankers. The seemingly simple question readers are asked to consider is: What would you have done, had you been employed by, or doing business with, Enron? Readers can debate their answers with colleagues. Award winning business ethics professor Denis Collins also provides advice on creating and sustaining an ethical culture in any company, offering a decision-making tool and framework that managers can use to intentionally steer their company away from the road Enron traveled. Book jacket.
Author: Susan Elaine Squires Publisher: FT Press ISBN: 0131408968 Category : Business & Economics Languages : en Pages : 209
Book Description
The authors bring their unique insights to a close-range observation of Andersen's culture that has continued for more than 15 years. They first review Andersen's unique history and role; its traditionally careful attention to "enculturing" new employees via mentoring, social networking, rewards and punishments; and its social structure characterized by personal, "familial" relationships. Next, they narrate two decades of change at Andersen, showing how the firm's tightly integrated cultural system gradually began to devolve, rapidly coming apart in the wake of the 1990s new economy revolution. The book concludes with an insightful discussion of the systemic cultural and business factors that placed Andersen and many other organizations at risk, along with a realistic assessment of the proposed reforms.
Author: Loren Fox Publisher: John Wiley & Sons ISBN: 0471432202 Category : Business & Economics Languages : en Pages : 394
Book Description
"I'd say you were a carnival barker, except that wouldn't be fair tocarnival barkers. A carnie will at least tell you up front that he's running a shell game. You, Mr. Lay, were running what purported to be the seventh largest corporation in America."-Senator Peter Fitzgerald (R-IL) to Enron CEO Kenneth Lay, Senate Commerce Science & Transportation's Subcommittee, Hearing on Enron, 2/12/02 The speed of Enron's rise and fall is truly astonishing and perhaps the single most important story of corporate failure in the twenty-first century. In Enron investigative journalist Loren Fox promises readers nothing short of the most compelling and insightful investigation into Enron's meteoric ascent-regarded by Wall Street and the media as the epitome of innovation-and its spectacular fall from grace. In a lively and authoritative manner, Fox discusses how the biggest corporate bankruptcy in American business history happened, why for so long no one (except for an enlightened few) saw it coming, and what its impact will be on financial markets, the U.S. economy, U.S. energy policy, and the public for years to come. With access to many company insiders, Fox's intriguing account of this corporate debacle also provides an overview of the corporate culture and business model that led to Enron's high-flying success and disastrous failure. The story of Enron is one that will reverberate in global financial and energy markets as well as in criminal and civil courts for years to come. Rife with all the elements of a classic thriller-scandal, dishonest accounting, personal greed, questionable campaign contributions, suicide-Enron captures the essence of a company that went too far too fast.
Author: Harold Bierman
Author: Harold Bierman
Author: United States. Congress. House. Committee on Energy and Commerce
Author: William A. Niskanen
Author: Malcolm S. Salter
Author: Mimi Swartz
Author: Christopher L. Culp
Author: Denis Collins
Author: Dirk J. Barreveld
Author: Susan Elaine Squires
Author: Loren Fox