Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Kenneth lay jail

28/03/2021 Client: saad24vbs Deadline: 2 Day

Enron Corporation

Enron Corporation Scandal

Name

Class

Date

Professor

Enron Corporation Scandal

White collar offenses are crimes committed by someone who uses their position at a certain profession to disguise their criminal behavior. In the past couple of decades white collar crime has been on the rise and the scandal surrounding these crimes have gotten more and more shocking. One of the most infamous white collar crimes involves the scandal involving the Enron Corporation. Enron is one of the most infamous cases of fraud by company executives that embezzled millions from the company while providing a false financial record to the board of directors and investors. As a result many of these executive went to jail and Enron was bankrupted.

History of the Enron Scandal

Enron was established in 1985 when Omaha-based InterNorth and Houston Natural gas merged into one company. Kenneth Lay was appointed CEO and the company saw immediate success. In 1993 the company made its first mistake when they created a number of limited liability special purpose entities that allowed Enron to hide its liabilities while growing its stock price (Folger, 2011). This was criticized by financial analysts who found the company was hiding large amounts of debt. From 1993 to 2001 the company was considered innovative and a leader in energy technologies. Despite the debt the company continues to purchase pipelines and bought into other industries, such as water and paper.

Enron was an energy trader and supplier that took advantage of the deregulation of the energy market to become successful in the energy industry. A year after Enron was formed Lay became Chairman of the Board and by 1999 the company embraced new technology and launched its broadband services and then established a website for trading commodities known as Enron online. Investors flocked to the company y eager to invest. Many ended up losing thousands if not more.

Enron Online was an immediate and huge success with about 90 per cent of the company’s income came from trades (George, 2006). By 2000 the company was making profits well into the billions and in the same year was the sixth largest company in the world. The company's stock price peaked at $90 US (George, 2006). Even though Enron appeared to be thriving financially it was not being properly managed but because of political influence from political powerhouses, such as President Bush and Vice President Dick Cheney, the company appeared to be legitimate and thriving financially.

In fact Ken Lay had access to Vice President Dick Cheney, who earlier in 2001 drafted a new national energy plan that seemed to lean heavily on the suggestions of Mr. Lay (Lashinski, 2011). It was believed Cheney supported the National Energy Plan for the purpose of supporting the goals of Ken Lay. Jeffery Skilling took over the position of President from Ken Lay and later become Chief Financial Officer until he resigned in 2000. Skilling is an important player in the Enron scandal because similar to Lay he was deeply involved in the criminal activities occurring in the company.

Under Shillings leadership the broadband branch of the company seemed to flourish and the stock continued to rise but when he retired in 2000 Lay returned to the position of CEO and Andrew Fastow became the CFO. Due to false reports given to the public investors flocked to the company but these reports were false. Fastow quickly figured out the true financial state of the company and resigned. Shortly after his resignation an investigation was launched by U.S. Securities and Exchange commission.

Deregulation

Enron formed after the government lifted the regulations placed on the energy industry. In the 1980’s and the 1990’s Kenneth Lay lobbied for the deregulation of the energy industry using his political power to persuade Federal Energy Regulatory Commission (FERC) to deregulate natural gas (). Lay was a huge contributor for the Bush campaign which gave him a lot of influence in Washington. As a result he was later successful in having electricity deregulated allowing it to become a commodity that was bought and sold. Through the support of the Bush Administration state after state was deregulated.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

ECFX Market
Finance Professor
Top Quality Assignments
Top Class Engineers
A+GRADE HELPER
Math Specialist
Writer Writer Name Offer Chat
ECFX Market

ONLINE

ECFX Market

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$24 Chat With Writer
Finance Professor

ONLINE

Finance Professor

I have read and understood all your initial requirements, and I am very professional in this task.

$34 Chat With Writer
Top Quality Assignments

ONLINE

Top Quality Assignments

Give me a chance, i will do this with my best efforts

$23 Chat With Writer
Top Class Engineers

ONLINE

Top Class Engineers

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$21 Chat With Writer
A+GRADE HELPER

ONLINE

A+GRADE HELPER

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$32 Chat With Writer
Math Specialist

ONLINE

Math Specialist

Give me a chance, i will do this with my best efforts

$45 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Green grass running water - Intercultural Competence Worksheet - Benchmark - Organizational Design, Structure, and Change Presentation - What are the needs and wants of ancient communities - Psy 104 week 3 assignment - Remember the order of the planets - Financial Performance Evaluation - Challenges in integrated marketing communication ppt - Which of the following statements about plagiarism is false - Whale rider rotten tomatoes - Hsc french continuers 2010 - Systematic name of vinyl chloride - 69zw family law act - Biostatistics Case 3 - Golden crowned snake sydney - Inclusive language persuasive technique - Starbucks duetto visa - 6 band resistor color code - Field axioms of real numbers examples - HW1 - Movie exhibition industry case analysis questions - Combined gas law problems worksheet - Helen on eighty sixth street sparknotes - Casey nelson is a divisional manager - What is the plot of trifles - Translation biology a level - Homework helper app download - The atoms are combined in some way - Access control - C++ program - Counter narrative essay examples - John f kennedy's inaugural speech pdf - Order 2301073: How education impact to our life - Personal wealth management course - Major b2c business models - Arbonne protein nutrition facts - Osha vpp program benefits disadvantages - Ch 63 listening quiz bernstein west side story excerpts - Books to teach inferencing - Why is smoke on the water a forbidden riff - Unit 12 internet marketing m1 - Ethics in information technology ppt - Biddabah public school warners bay - Coca cola and mentos experiment procedure - Climate change speech outline - Politics style guide uow - Article Review Assignment - 5-3-1 activity: historical context chart - Broken record strategy for redirecting student behavior - Important people in my life - 28 moombara crescent port hacking - Modify class gradebook fig 3.10 as follows - Yelp data set sql lookup - NETWORK SEC - Information technology for the health professions 5th edition - Broadening units list uwa - Share capital pro rata questions - How much nutella is sold each year - Hand arm bimanual intensive therapy - Laine hardy national anthem saints game - Five key management theory principle milestones over time - How to write a check for 89 dollars - Gym - Is sea lice contagious - Mental health nursing interventions - The Effects of Drugs on a Man’s Reproductive System - Boston va research institute - Matlab state space simulation - Newnan times herald arrest log - Multiple choice questions on leadership and management - The crucible and the dressmaker analysis - Heaths road invest hoppers cross - Accounting Financial statements - The secret life of us episode guide - Youtube twinkle twinkle little star repeat - Earth's magnetic field physics lab report - Below deck discussion hollywood casino columbus january 11 - Public domain software is usually - Ansys 19 tutorial pdf - Blue frog 2 energy drink - Final Paper - Ford pinto fuel tank 1977 - Hp dl380 power consumption - Bone timber supplies adelaide - Continental airlines case study - Charging optima red top - IISP DISCUSSION-5-dumm - The sears tower in chicago is feet tall - I ate them i ate the divorce papers - Taymouth castle golf club - Below are the jersey numbers of players - Under armour five forces analysis - 60 minutes instagram influencers - Comp xm exam board query answers - Critical analysis of samuel by grace paley - Formula Poetry - Fin - Mariano vallejo and the absorption of california - Merchant of venice criticism - Anz order stationery online