InterNorth

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    1. Personal ethical perspectives: 1.1. One of the most important fraud case in USA was The Enron case because of his criminal activity which involved a big part of USA. Let me give a short introduce about it, “In 1974, Kenneth Lay joined the Florida Gas Company, eventually serving as president of its successor company, Continental Resources Company. In 1981, he left Continental to join Transco Energy Company in Houston, Texas. Three years later, Lay joined Houston Natural Gas Co. as chairman and CEO. The company merged with InterNorth in 1985, and was later renamed Enron Corp. In 1986, Kenneth Lay was appointed chairman and chief executive officer of Enron.” (Bio.) Kenneth got an executive team who did not have a properly accounting system…

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    Short Story: The Shining

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    They stopped at the edge of a cliff. In a large expanse of ground beneath them, was the remains of a recently collapsed piece of land. For as far as Jingyan could see, the serpentine fissures that spanned the width of a house wound out from a steep sinkhole in the center of the land, creating an additional depth to the already sunken land. There was a heavy stench of lingering gunpowder and the fissures were filled with uprooted trees and crumpled earth. According to the maps, Jingyan once…

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    their actions surfaced. They had no choice but to later declare chapter 11 bankruptcy in December 2001. This scandal not only caused thousands of Enron employers to lose their jobs but even their retirement and investment into the company. Andrew Fastow, the CFO of Enron pleads guilty for conspiracy to commit wire fraud and securities fraud and takes a plea bargain of 10 years in 2004. Kenneth Lay the CEO of Enron goes to trial in 2006 after he was charged with fraud. The Rise of an Empire…

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    which had the largest natural gas transmission networks in North America continent. In 2000, the company was on the Fortune 500 list with the seventh seat, but its bankruptcy in December 2001 was even larger. The name of the company, then, displayed whenever the subject is corporate greed and corruption. Its collapse costed employees and investors, and the figure of the costs reached over $70 billion because of the lost retirement pensions and lost capitalization. The Creation Enron took…

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    Enron Neoliberalism

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    prime, was no exception. Although Enron Corporation had grown to be one of the most innovative and powerful corporations in America, it fell hard due to lack of honesty in reporting finances. It fell because there was a lack of regulation, no one to watch the company’s top executives as they took advantage of the free market all to make a profit. Before the downfall of the Enron energy company, it was known as one of the largest, most successful, corporations in America. Although it was a huge…

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    Enron Review Failure

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    The Enron outrage, uncovered in October 2001, in the long run prompted the insolvency of the Enron Corporation, an American vitality organization situated in Houston, Texas, and the accepted disintegration of Arthur Andersen, which was one of the five biggest review and bookkeeping associations on the planet. Notwithstanding being the biggest insolvency redesign in American history around then, Enron was refered to as the greatest review failure.[1] Enron was framed in 1985 by Kenneth Lay…

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    about 24 days. They were known for being America’s largest corporate bankruptcy. The collapse resulted in many criminal trials for many people, including the top executives who were involved during the entire scandal. The book starts out by informing us a little about Ken Lay and Jeff Skilling, who were both leaders of Enron at one point in time. It also tells us how Enron became a business. The book tells us that they both were CEO’s of different gas and energy companies in the South, but that…

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    The start of Enron was created between two companies coming together as one. Houston Natural Gas and InterNorth. Houston Natural Gas was formed in the 1920s from the Houston Oil Company. InterNorth began in 1930 as Northern Natural Gas Company in Omaha, Nebraska. InterNorth was one of the nations premier pipeline networks and bought out Houston Natural Gas in May of 1985 for 2.4 billion dollars. The New company name was know as HNG-InterNorth with a new CEO named Kenneth Lay who then renamed…

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    Enron Accounting Scandal

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    or event regarded as morally or legally wrong and causing general public outrage.” Enron and WorldCom have certainly caused public outrage through their illegal, immoral, and unethical actions. While each scandal is in itself an expansive episode, they each have similarities and have both impacted the industry in ways that were far unseen by each company. So, who are Enron and WorldCom anyway? Enron was the largest marketer of natural gas and electricity. Based out of Houston, Texas Enron was…

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    Enron Ponzi Scheme

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    Enron was firstly a natural gas pipeline company that combine as the combination of Nebraska and Omaha’s natural gas company, Houston Natural gas and InterNorth. It took 15 years from 1985 to 2000 to climb up into the one of the largest gas company in North America. Behind the successful of the company, it was a story of betrayal and greed of the executives of the largest natural gas company in North America. For example, the plant was moved to Mexico in order to avoid the minimum wages. Also,…

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