commodities, and provided financial and risk management services to customers around the world (Enron Fast Facts, 2015).” Enron was formed in July of 1995, after the merger between Houston Natural Gas and InterNorth out of Omaha with the help of Kenneth Lay and became the sixth largest company in the world that provided energy (Enron Fast Facts, 2015). It was due to Ken’s ambition to turn the stable business from a pipeline business into an energy powerhouse (DiLallo, 2015) and the reported “error of
Words: 1414 - Pages: 6
rules are enforceable applications of the principles they define acceptable behavior and identify sources of authority for performance standards. Enron Case Enron was formed in 1985 by the merger of Houston Natural Gas and Inter North. Kenneth Lay, the former chairman of Houston Natural Gas and then president of Enron, led the company almost from its inception until shortly before his spectacular fall. The company expanded its operations as a broker of futures contracts and derivatives of natural
Words: 497 - Pages: 2
that everyone has been thought that the characteristic of Ken Lay, chairmen and CEO at Enron, and Jeff Skilling, COO at Enron, are good qualities to have. Ken Lay and Jeff Skilling were not bad people, in fact they had all the makings of great business men. Lay’s childhood is described as an unpleasantly penniless childhood, but Lay managed to work several jobs as a child wanting a better life for himself. The movie describes Lay as a dreamer of sorts by telling a story of a time he was sitting
Words: 1238 - Pages: 5
or article. Enron was a very large company which was an American Energy trading and Communication company that was based in Houston Texas. The company was first started in 1985 by Kenneth Lay, which he thought at the time was a good idea to merge with Houston Natural Gas and the InterNorth Company. Kenneth Lay who was originally the top CEO at Houston Natural, which gave him the reason to think that he had a good opportunity to merge with other companies in order to get the company and what he needs
Words: 745 - Pages: 3
It fascinated me how competitive the large capitalists, especially Vanderbilt and Rockefeller, were. It was interesting how they both took bold moves to take down their competitors. Vanderbilt shut down the Albany Bridge and Rockefeller lost a fortune just to hit his competitors hard. It was like a real life game of Risk. Vanderbilt would see that one industry was declining, sell his stuff there, and know what to invest in next. I am very impressed by their ability to strategize. The second video
Words: 549 - Pages: 3
altered form. Some managers are willing to cook the books for personal gain. Motives for such deception might be maximizing their compensation, increasing the company’s stock price, and preserving their jobs” (Spiceland, 165). The CEO of Enron, Ken Lay, hired a smart man named Jeffrey Skilling and after a successfully executed business plan, he was hired to be in charge of Enron Finance Corporation. By 1999, Enron’s stock went up by 50% and by 2000, had skyrocketed up to 90%. What people across the
Words: 828 - Pages: 4
1. Make a list of at least 5 stakeholders - CEO, Managers (Ken Lay, Jeffrey Skilling…) - Employees - Investors, shareholders - Government - Customers 2. Based on the video, discuss the evidence to suggest there is a conflict between the various stakeholders. Discuss at least THREE such evidences. * The California government and the top of ENRON. The top of ENRON decided to shout off the electricity that is provide to California. They wanted to make more profit. But it caused
Words: 293 - Pages: 2
size issue. That said, the fact that there are additional punishments for CEOs and CFOs in particular as the result of SOX might make some people think twice. A contrary argument is that the fact that Bernie Ebbers got a 25-year sentence and Kenneth Lay carked it in between conviction and sentencing might have had something to do with discouraging criminals from using the corporate method to acquire their ill-gotten wealth. The other part of the act was creating oversight
Words: 728 - Pages: 3
executive Ken Lay pocketed millions of dollars by offloading shares over the past few years. Enron chairman and chief executive Ken Lay pocketed millions of dollars by offloading shares over the past few years. Enron chairman and chief executive Ken Lay pocketed millions of dollars by offloading shares over the past few years. Enron chairman and chief executive Ken Lay pocketed millions of dollars by offloading shares over the past few years. Enron chairman and chief executive Ken Lay pocketed millions
Words: 381 - Pages: 2
May 2012 Principals of Finance FIN301 Module 1 CFO to CEO is it good idea and do they have what it takes to lead their respective organizations into the future. This is a very good question over the next few minutes we will discuss that very question and I will show you two CFO to CEO’s that made it by two different routes. I will conclude with my person perspective and closing thoughts. Dalton Tong is the President and CEO of Greater Southeast Healthcare System, Washington, D.C. and
Words: 669 - Pages: 3
