(855) 4-ESSAYS

Type a new keyword(s) and press Enter to search

Enron Oil Scandal

Meanwhile the executives had sold their shares when they knew about the impending crash. This is known as insider trading and is highly illegal and morally wrong.
             According to the utilitarian, one's actions are to be judged solely by virtue of their consequences. In classical Utilitarianism the right actions are the ones that produce the best balance of pleasure and happiness over pain and unhappiness. Everyone's happiness matters equally. As Bentham, one of the authors of Utilitarianism said "Each to count for one and none to count for more than one." Sherron Watkins" conscious did not allow her to turn a blind eye to the wrongdoing which would eventually and inevitably lead to a great deal of pain and unhappiness for a huge number of people to the benefit of a few individuals. While Watkins" actions did have the consequence of causing unhappiness for many it was actually in their long-term interest that the scandal be exposed before they invested still more of their savings in the company only for it to crash in years to come.
             All employees of a company are employed to work in the interests of the shareholders and the company's future. The executives have a special duty to safeguard the investments of shareholders and the livelihoods of loyal workers. It is clear from Enron's own "Code of Ethics" that there was one rule for the executives and one rule for everyone else and that there was a serious lack of morality in the upper echelons of the company. I would be of the opinion that the collapse of the company's share price and the resulting bankruptcy of Enron was not a consequence of the action that Sherron Watkins took. This was going to happen in the future in any case. Her action of "blowing the whistle" did have the consequence of acting as a trigger to expose the accounting fraud. When the fraud was revealed creditors demanded their money and the company was forced into bankruptcy.


Essays Related to Enron Oil Scandal

1. Enron -The Next Teapot Dome?

With the emergence of the Enron scandal, some pundits began to compare it to the Teapot Dome scandal of the 1920's. ... The Enron scandal seemed to follow in its footsteps. ... The Enron scandal involved a great deal of "contributions- in order to get things done in their favor. ... Enron and Teapot Dome also shared another similarity; the scandals involved a U.S. president. ... Both the Enron and Teapot Dome scandals rocked the public's vision of government and corporations. ...

  • Word Count: 1545
  • Approx Pages: 6
  • Grade Level: High School

2. ENRON

ENRON THE RISING STAR Enron was the rising star of Wall Street. ... One might ask why, what brought about Enron's collapse? ... A good example of this culture in the early years of the organization is in 1987; company auditors learned of a "billion dollar oil trading scandal" and did nothing to stop it. In fact they took steps to cover up the scandal and continued to increase the cash flow until it could be hidden no longer. ... Even so many at Enron and Author Anderson accounting firm (the external auditors for Enron) had to know what was happening. ...

  • Word Count: 942
  • Approx Pages: 4
  • Has Bibliography
  • Grade Level: Undergraduate

3. Insider Trading

Martha Stewart is an example of an insider trading scandal. ... (Weaver) Barry Switzer, a famous Oklahoma coach, overheard two executives talk about the liquidation of an Oklahoma oil firm. ... Enron is a good example of why insider trading is a bad crime. Enron's top executives artificially inflated the stock prices of their company. ... Hopefully people will learn from these public scandals like Enron and Martha Stewart that is not worth it. ...

  • Word Count: 841
  • Approx Pages: 3
  • Has Bibliography
  • Grade Level: High School

4. Enron:Lapses in Ethical Decision Making

The rise of Enron can date back to the early 1900's, when the city of Houston first struck Oil landfill. From this point on in history, the city of Houston would be known as the Oil Capital of the United States. ... He began his career in the lumber industry but then would later join forces with Patrick Calhoun, a corporate attorney, to capitalize with Houston Oil. ... So how did Enron make all of their money? ... The executives at Enron seemed to forget what an ag...

  • Word Count: 2824
  • Approx Pages: 11
  • Grade Level: High School

5. The Puritan Work Ethic in America Today

Rockefeller burned his competitors" oil wells, but he was never looked down upon. The Enron and Worldcom executives were guilty of the Puritan work ethic. Such was true of former president Bill Clinton with the Whitewater Scandal. ...

  • Word Count: 398
  • Approx Pages: 2
  • Grade Level: High School

6. Is a Broker Necessary?

Semiconductors, technology, oil, etc. are categorized stocks in certain sectors of each exchange. ... Due to the accountants ignoring the fraudulent bookkeeping for Enron their business has suffered. ... How then were they able to miss the enormous scandal that Enron went through? Enron created companies out of thin air, and then sold them energy that was never created just to boost earnings. Enron's market price per share reached into the eighty dollar range and now is worth an insignificant few cents. ...

  • Word Count: 1683
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: High School

7. Soft Money in Political Campaigns

Of course, in the late 19th and early 20th centuries, there were reports of numerous scandals and reports of kickbacks, and other various types of shady activity within corporations and the government. ... Incidentally, according to a web site called "Common Cause-Soft Money Laundromat" the five largest contributors to political parties over the last 15 years have been: oil companies, pharmaceutical companies, tobacco companies, insurance companies and technology/telecommunication companies. ... A book by a man named Charles Lewis and others from the Center for Public Integrity titled, The ...

  • Word Count: 2580
  • Approx Pages: 10
  • Has Bibliography
  • Grade Level: Undergraduate

8. war on iraq

Its health took another knock in December when Enron's collapse shook investor confidence. ... A rash of corporate scandals undermined already weak investor confidence and sent equity markets into turmoil in July 2002. ...

  • Word Count: 2819
  • Approx Pages: 11
  • Grade Level: Undergraduate

Got a writing question? Ask our professional writer!
Submit My Question