I would like to blog about how Enron was able to submit false financial statements for so many years. Since Enron was such a large player in the energy market, I would think their financial statements would be analyzed the most. I don’t think the excuses that Enron’s senior executives were intimidating and their balance sheets were very confusing are valid. I think a good example that is comparable to Enron submitting false financial statements is Major League Baseball allowing Mark McGuire to break the home run record when he was on steroids. How can a respectable organization like the MLB not test a person like Mark McGuire for performance enhancing drugs and allow him to ruin the game of baseball. Similarly, there has to be smart financial people all over the country that could have looked at the financial statements of Enron and proved how illegitimate they were. Submitting false financial statements and using steroids in baseball give you an unfair advantage over your competitors. Unfortunately, Enron was able to get away with these incorrect financial statements for over ten years. I also was very happy to read that Lay and Skilling are in jail for their actions. They were able to make large amounts of money by privately selling large amounts of stock in the company in 2000 and 2001.
The Cloud#occupy Africa AIG America baseball Best of Blog Breakfast at Tiffanys bucknell Bucknell University Business Business Ethics Campus Campus Theatre capitalism CEO corporate responsibility Corporations Countrywide Credit Agencies economics Economy Education Empathy employment Enron Ethics Facebook Film finance Financial Services food Fraud Friedman funny Globalization Google government higher education ideologies inequality Kiva labor abuse lewisburg Lewisburg Pennsylvania Loan media Money Movie New York City NFL Nigeria Nike North by Northwest Occupy Wall Street People policy politics Protest protests rawls Richard Rorty Saro-Wiwa Shell Social Responsibility Society sports steroids Student tax United States utilitarianism Wal-Mart Wall Street Walmart writing
Hot Off The Press…