Enron The Great Things Among Their Fellow Men Essay

Through history there are men who choose to do great things among their fellow men. On the contrary their men who abuse the positions they hold and take advantage of those around them. Scandals such as Enron, give us the ability to learn from and make the proper implications we need to avoid accounting frauds. We will evaluate Enron: who was involved, the signs of the scandal and the consequences. Enron, created in 1985 by merging two gas companies, Houston Natural gas and Internorth. Kenneth Lay was the man behind the madness operating as a chairman and CEO. The company was ranked as high as number-seven within Fortune Magazine top 500 companies. They had a whooping 22,000 employees and was worth about 70 billion. The shares boomed to over 90 dollars a share. The company was doing amazing right? Kenneth Lay unexpectedly retired, to me is odd. However, his replacement Jeffery Skilling seemingly continued to enhance the company. The company did not seem to skip a beat under Skilling. He was very confident in himself to the point to where he was arrogant. When he asked if he was smart by the admissions office of Harvard he replied â€Å"I’m f***ing smart.† To me, signaling that this guy is crazy. This was an interview, where you should try to impress. Another interesting fact is Skilling and his upper-management where known for taking enormous risks, even spilling over to their personal lives. They were known for taking trips where they would go motor-cycling and often come homeShow MoreRelatedEthical Misconduct7357 Words   |  30 Pagespublicly traded and privately held companies observing inappropriate behavior. The smallest organizations--those with fewer than 25 employees--were least likely to have employees who observed ethical misconduct. 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