Enron Leadership

  • Enron

    ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- California University of Management and Sciences ------------------------------------------------- Advanced Strategic Management Enron By Anna Medvedeva The movie Enron

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  • Enron

    ENRON PROJECT Gilbert Canda Strayer University LEG100 – Business Law I Professor: Gloria Sodaro Enron began as a domestic natural gas pipeline company which was established in Houston, Texas during 1930. After operating for thirty years, during the 1960s; Enron decided to expand its corporation into different segments in order to invest in the diverse levels of the energy market. In the late 1980s and early 1990s, Enron established a major change in the company’s operations by making

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  • Enron

    The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston

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  • Enron

    CORPORATE GOVERNANCE LESSONS FROM ENRON SCANDAL The Enron scandal is the most significant corporate collapse in the United States since the failure of many savings and loan banks during the 1980s. This scandal demonstrates the need for significant reforms in accounting and corporate governance in the United States, as well as for a close look at the ethical quality of the culture of business generally and of business corporations . PROBLEMS : Paying directors with stock may have

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  • Enron

    Enron Corporation was a company that provided services which related to energys, commodities and services based in Houston Texas. Enron employed approximately 22,000 staff. It was one of the world's leading electricity, natural gas, communications, pulp, and paper companies. Enron claimed revenues of nearly $101 billion in 2000 before it filed bankruptcy in late 2001. Enron was named "America's Most Innovative Company" for six years in a row by Fortune. In 2001, Enron was accused of

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  • Enron

    ENRON BUSINESS ETHICS Business Ethics 07/22/12 ENRON Enron started about 18 years ago in July of 1985. Huston Natural Gas merged with a company called InterNorth, which was a natural gas company. After their merge, they decided to come up with a new name. The new name was Enron. Enron grew in that 18-year span to be one of America's largest companies. A man named Kenneth Lay, who was an energy economist, became the CEO of Enron. He was an optimistic man and was very eager to do

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  • Enron

    Enron, Ethics, and the Law BUS 375 Enron, Ethics, and the Law This paper will explain the history of Enron and were it failed. These failures led to many changes that today’s employees must know about and then be trained to avoid those same mistakes. While this company was based in the United States their failures had a global impact that has caused cultural changes across the world. These changes have caused employee ethics training to be changes across the world. Like everything else in

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  • Enron

    Enron is a prime example of how unethical behavior can affect millions of people. Enron Corporation was once known for bring one of the largest leading suppliers of electricity, natural gas, and communications bust since it’s scandal Enron will be known for corruption and accounting fraud. Enron intentionally reported falsely inflated estimates of income and did not report all debts the company owed. Enron Corporation filled for bankruptcy in 2001 which led to criminal investigation that

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  • Enron

    Enron Jesus malverde BUS 500D September , 2011 unknown Enron Enron, a company that went from one of the top companies in the 1990s to taking a plunge straight to the bottom in the early 2000s. The greed and pride of Enron’s top executives is what ultimately made Enron file for bankruptcy. Enron established ethical codes, but never followed. Employees at Enron were given instructions to push boundaries, increase revenues, and make Enron look eminent (McLean & Elkind, 2005

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  • Enron

    Enron was one of the largest energy company in the United States. Enron top managers are clearly responsible for poor business decisions and mismanagement of the corporation. Which began with the management of Jeffrey Skilling who adopted "mark-to-market" accounting, in which anticipated future profits from any deal were accounted for by estimating their present value rather than historical cost. Andrew Stuart Fastow was hired to conceal Enron massive losses. Which were discuss in detail in the

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  • Enron

    THE ENRON COLLAPSE The Androids Under Attack case was similar to the case of Enron Corporation. It was formed in 1985 from a merger of Houston Natural Gas and Internorth, Enron Corp. was the first nationwide natural gas pipeline network. Over time, the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets. The guiding principle seems to have been that there was more money to be made in buying and selling financial contracts linked

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  • Enron

    The scandal behind ENRON is a subject I had heard and read briefly about but never really knew all of the details. When I watched the film, Smartest Guy In The Room, I really got the opportunity to understand what caused the fall of ENRON and the negative impacts ENRON caused. The film begins by questioning the reasons for ENRON’s fall to bankruptcy in 24 days by addressing the characteristics of Pride, Greed , Arrogance, and Intolerance which were all strong characteristics of the corporate

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  • Enron Failure of Leadership

    Assignment: Background Read the following Case Scenario and then attempt this task Enron: How the Failure of Leadership, Culture, and Unethical Behavior Brought a Giant to its Knees Background A company with humble beginnings, Enron began as a merger of two Houston pipeline companies in 1985. Although Enron faced a number of financially difficult years, the deregulation of the electrical power markets took effect in 1988, and the company redefined its business from "energy delivery" to

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    Chewco Investments LP was created in November 1997 to buy the 50 percent interest owned by CalPERS, the California Public Employees’ Retirement System, in a joint venture investment partnership called Joint Energy Development Investment Limited Partnership (JEDI). JEDI had operated since 1993 as a nonconsolidated SPE. Enron wanted to create a larger unit with capital of $1 billion, and CalPERS asked to be bought out. Chewco was created as a vehicle to attract a a replacement for CalPERS and to

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  • Enron

    physical positions.” They don’t want any regulatory problems with their state utility commissions and they don’t want to upset their investors, who depend on steady dividend payments resulting from predictable cash flows. Today’s power and gas markets are notably different from when Enron was trying to make its mark. At that time, deregulation was the buzzword — the ability to combine knowledge and technology to create market efficiencies and to provide new services. While Enron’s modus operandi

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  • Enron

    There were dozens of books about Watergate, but only All the President's Men gave readers the full story, with all the drama and nuance and exclusive reporting. And thirty years later, if you're going to read only one book on Watergate, that's still the one. Today, Enron is the biggest business story of our time, and Fortune senior writers Bethany McLean and Peter Elkind are the new Woodward and Bernstein. Remarkably, it was just two years ago that Enron was thought to epitomize a great New

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  • Enron

    Enron is the story of how a company that was deemed to be America’s future came crashing down because simple codes of ethics were not maintained. Enron started out as gas pipeline Company. It entered trading and tried to venture into tall grass with pulp and broadband which they had no clue about. The management that thought they would change the face of business ended up with almost nothing and a legal trial haunting them. After Ken Lay hired Jeff Skilling there were major changes in the

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  • Enron

    Nonbanks can follow identical strategies, which is what Enron did in the 1990s when it lobbied its accounts and the government to permit it to mark to market its contracts for the future supply of energy and Internet services to market.- C. William Thomas, The Rise and Fall of Enron: When a Company Looks Too Good to be True, it Usually is, J. ACCT., Apr. 2002, available at http://www.journalofaccountancy.com/Issues/2002/Apr/ TheRiseAndFallOfEnron.htm That change in accounting convention let

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  • Enron

    admitted only recently to doing so. Unlike Enron, Olympus came clean on its own. Corporate leadership makes all the difference in the world--for good and for bad | Former Enron CEO Jeffrey Skilling reportedly led the company's risky bets to revolutionize the market for natural gas and commodities trading. It was his CFO, Andrew Fastow, allegedly idolized Skilling, and did his part to cook the books, hiding billions of dollars in debt. In 2006, Skilling was convicted of 19 criminal counts, including

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  • Enron

    competence. For the code of conduct it address the situation, conflict of interest, confidentiality, access to records, sexual relationship, derogatory language, termination of service and sexual harassment. Question 1 Enron corporate This Enron corporate was a big company which provides natural gas, electricity and communication to its retail and wholesale customers. This company transported natural gas through the pipeline all over the united state. Not only the united state this company

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  • Enron

    Annemarie Silva Case Study – Enron Professor John Kuhn September 22, 2014 Introduction When looking at this Enron Case, we come to a conclusion that there was just too many different things that were done wrong. It has been a case that is still being used today to teach the new and upcoming accountants of the accounting profession, what true ethical behavior is, and what we as accountants need to be aware of when auditing clients. Thank goodness that we have regulations that are in

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  • Enron

    Enron Sharon R. Duncombe Professor Jamila Harris Business Law I – LEG 100 May 2, 2010 1) Describe how Enron could have been structured differently to avoid such activities. One of the reasons why the corporate governance system failed at Enron was because of the lack of good communication between the Board of Directors (BOD) and Top Management in Enron’s affairs. Various committees of the BOD were not doing your job, by not overseeing effectively the action’s of the company. “A

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  • Enron

    of control. There was not governing controls in place and fraudulent activities were unlimited. Andrew Fastow created LJM1 to handle investments with Rhythms NetConnections, high-speed Internet service provider. The stock that they bought at $10 million was worth $300 million after a year. Enron tried to sell the stocks to an investor, in case the stock price dropped. They could not find an investor to purchase the stock at the put option because of the risks that was involved. 2) How might

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  • Enron

    Enron: The Smartest Guys in the Room This documentary explores the fall of the Enron Corporation. This is one of the most shocking modern corporate corruptions. The company is linked with several illegal schemes including instigating the California energy crisis as a way to drive up utility prices at the expense of the average American citizen. This was one of the largest business scandals in the history of America. The film examines Enron and how the criminal trials are for several of the

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  • Enron

    said to have caused or at least aided in the downfall of the company. Human Resources also has the responsibility of making sure retirement funds are being handled appropriately. According to Sullivan (2004), “The most obvious error was the setting of retirement fund rules that restricted employees from selling holdings in Enron stock, while allowing senior management to sell large volumes of theirs”. This action in itself should have been very alarming to employees. This means do not sell your

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  • Enron

    Energy company Enron was broken up after revelations of Andersen's performance as an auditor. The Powers Committee (appointed by Enron's board to look into the firm's accounting in October 2001) came to the following assessment: "The evidence available to us suggests that Andersen did not fulfill its professional responsibilities in connection with its audits of Enron’s financial statements, or its obligation to bring to the attention of Enron’s Board (or the Audit and Compliance Committee

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  • Enron

    collapse of Enron impacted many individuals and organizations throughout the world. The extent and severity of each depends on the situation. But one common factor is that all impacts were proven to be negative. Although, it was one of the greatest corporate learning experiences for the entire world. Enron was at its peak in 2000 with stock prices around $90.00 a share. As the company failed, stock prices plummeted to a mere $.67 a share. The company’s thousands of employees had invested

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  • Enron

    Trikenya Wilson Professor Warburton June 18, 2011 Eco 360 – White Collar Crime – Homework #1 The elements of white collar crime that gave rise to the enactments of the statutes were bank fraud, making false statements to banks and auditors, securities fraud, wire fraud, money laundering, conspiracy, and insider trading. Enron’s accounting practices Enron had created offshore entities, units which may be used for planning and avoidance of taxes, raising the profitability of a

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  • Enron

    ENRON'S COLLAPSE: THE OVERVIEW ENRON'S COLLAPSE: THE OVERVIEW; ENRON COLLAPSES AS SUITOR CANCELS PLANS FOR MERGER By RICHARD A. OPPEL Jr. and ANDREW ROSS SORKIN Published: November 29, 2001 Correction Appended Enron, the champion of energy deregulation that grew into one of the nation's 10 largest companies, collapsed yesterday, after a rival backed out of a deal to buy it and many big trading partners stopped doing business with it. Enron, based in Houston, was widely expected to seek

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  • Enron

    1. Five control issues in the enron movie are: • Control Activities – These are measures and policies that assist management and employees in carrying out directive and provide the occurrence of strong internal controls. Enron had poor internal controls. The transactions in the firm were not properly authorised. Mr. Fastow was involved tangling with the accounting records to make the company look good, so there was no accuracy and completeness in their accounting records. Segregation

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  • Enron

    Dorina Komini Management 402 September 9, 2015 The Makings and Pitfalls of Successful Qualities When people think of Enron they most likely don’t burst full of warm fuzzy feeling, they think of rich greedy men who only cared about themselves who were arrogant and thought they could get away with anything because of how much money they had. But what happened at Enron is more than the a sad story in which people lost all their life savings, it is about men who had all the right qualities

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  • Enron

    1. Explain the concept and rationale behind mark to market accounting and it's significance to Enron. Mark to market accounting allowed Enron to book potential profits on the day it was signed. Regardless of how little cash came through the doors. To the outside world, Enron’s profit was whatever Enron said it was. 2. Describe the Enron culture. The work environment of Enron was aggressive. This was due to Jeff Skilling’s strong belief in survival of the fittest. Skillings implemented

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  • Enron

    question seems to be rooted in a combination of the failure of top leadership, a corporate culture that supported unethical behavior, and the complicity of the investment banking community. Enron’s Top Leadership   In the aftermath of Enron’s bankruptcy filing, numerous Enron executives were charged with criminal acts, including fraud, money laundering, and insider trading. For example, Ben Glisan, Enron’s former treasurer, was charged with two-dozen counts of money laundering, fraud, and

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  • Enron

    Some concluding thoughts 193 193 194 198 200 203 viii Contents 13 Ethics, Courage and Discipline: The Lessons of Enron Robert G. Kennedy 206 The external response: law and regulation The internal response: professionalism The character of business professionals Business schools and corporate cultures 207 208 213 215 14 Developing Leadership and Responsibility: No Alternative for Business Schools Henri-Claude de Bettignies The ‘leadership’ dimension The

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  • Enron

    ------------------------------------------------- ENRON SCANDAL Enron’s Accounting Methods April 30, 2015 Acct 301-d02 LUO [Company address] April 30, 2015 Acct 301-d02 LUO [Company address] Melissa Vest Liberty University I. Introduction: Enron used many legal accounting practices to commit fraudulent accounting activities II. The genius, or ingenious, accounting methods Enron used: 1. Special purpose entities a. Synthetic leases b. FAS 140’s 2. Hedges

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  • Enron

    LEG100: Business Law I Professor Young March 5, 2011 Enron was an old line energy company, owning electric power production facilities and natural gas pipelines. It engaged in several acquisitions during the late 1980s and the 1990s that dramatically increased its size. Its acquisitions included power companies in the U.S. and abroad, as well as investments in various energy and technology companies. In the 1990s, Enron reorganized itself as an energy trading company, whose

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  • Enron

    corporate managers and also on how to reinforce directors‘ capability. Enron‘s business strategy and corporate culture were altered by Jeffrey Skilling and Andrew Fastow. Enron appeared to be very innovative and very profitable during the period. There little enticement for the investment community and the board of directors to question the executives intimately when the stock inclined and the shareholders treasure chest were getting full. In the off-books corporations controlled by Fastow, the

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  • Enron

    1. Why were the Wall Street analysts willing to believe anything about Enron? What factors perpetuated the Enron myth? Why were the warnings ignored? Wall Street analyst did not want to believe that Enron was doing anything illegal, because of the amount of money they knew they could make. In the film, analysts blamed Enron for giving them false information. The false information kept Enron looking profitable, so it was recommended to investors. Also analysts were tricked or “bought” into

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  • Enron

    Enron Enron was once named America’s “most innovative” company six years in a row by Fortune magazine. Enron started as a natural gas distributor after Houston Natural Gas (HNG) was acquired by rival InterNorth in 1985. Shortly after the merger, Kenneth Lay, CEO of the combined company, announced that HNG and InterNorth would become known as “Enteron.”A few days later, Lay learned that the word “enteron” had an inconvenient meaning so he shortened it to “Enron”. At the time, Enron had the

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  • Enron

    Enron used “special purpose entities” (SPEs) to access capital or hedge risk. These limited partnerships permitted Enron to increase leverage and return on assets without having to report debt on its balance sheet. Under the leadership of Andrew Fastow (A Skilling’s protégé who had gone up in ranks becoming Enron’s CFO in 1998) the company took SPEs to new heights, thereby pushing accounting principles to the breaking point. It capitalized on them not only with a range of hard assets and

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         . Burton Final Paper: The Enron Scandal MSA 602 Dr. Pendarvis 12-4-2011 Abstract Enron's collapse is generally viewed as a morality tale - the natural result of managerial greed, a clueless board, and feckless gatekeepers. But none of these aspects of the story clearly distinguishes Enron from other major firms during the bubble era of the late 90s. This material identifies certain economic facts from the

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  • Enron

    Emily Escobedo Professor Kimberly Gleason BA 3300 3 April 2016 EXTRA CREDIT: Enron: The Smartest Guys in the Room https://freedocumentaries.org/documentary/enron-the-smartest-guys-in-the-room#watch-film 1. Explain the concept and rationale behind mark to market accounting and its significance to Enron. (19:35) Jefferey Skilling was hired by Ken Lay. Skilling had agree to work with Enron if he was able to use the mark-to-market accounting which was approved by SEC. This accounting

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  • Enron

    Enron When considering powerhouses in trading, electricity, natural gas, and communications throughout the 1990’s, one enterprise easily comes to mind; Enron Corporation. Claiming nearly 111 billion in revenues during 2000, Enron, at the time, was the epitome of innovation; even being named "America's Most Innovative Company" for six consecutive years by Fortune magazine. It came to a great surprise for many that within just a year, the company would be declaring bankruptcy, and

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  • Enron

    Enron Corp. Ivan Rodriguez Professor Daniel Smith Legal 100 April 30, 2011 2.      Discuss whether Enron’s officers acted within the scope of their authority.   3.      Describe the corporate culture at Enron.   4.      Discuss two alleged irregularities in the actions between sellers of securities and Enron.   5.      Discuss whether or not Enron was liable for the actions of its agents and employees.   The format of the report is to be as follows: o   Typed, double spaced

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  • Enron

    Running Head: ENRON CORPORATION Enron Corporation July 20, 2011 Based in Houston, Texas, Enron Corporation was an American energy, commodities and service company. Enron was formed in 1985 by Kenneth Lay after merging Houston Natural Gas and InterNorth. Enron employed approximately 22,000 employees and was one of the world’s leading electricity, natural gas communications, and pulp and paper companies before its demise in late 2001. For six consecutive years, Fortune named Enron

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  • Enron

    Business Failure Enron xxxxxxxxxx University of Phoenix Online February xx, xxxx xxxxxxxxxxxx Examining a Business Failure: Enron This paper will discuss the contributions of leadership, management, and organizational structures that led to the demise of Enron. The structures will also be compared and contrasted to help better understand why the company failed. Enron Corporation was founded in

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  • Enron

    him if he was smart, his answer was “I’m fucking smart.” In fact, Skilling is a nerd with visionary ideas. This conceited gambler was promoted and admired by Lay. Due to Skilling, Enron started using mark to market accounting treatment to earn future’s profits. Under the charismatic leadership effect, Enron’s traders became huge risk takers with losing their ethics and chasing after their heads. As they hunted down the legal loopholes in California and took advantage of its new deregulating

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  • Enron

    The Enron and Corporate Governance Company Enron Corporation Industry Energy Founded Omaha, Nebraska, USA (1985) Founder Kenneth Lay Employees approx. 22,000 (2000) Fate Bankruptcy, 2001 Website enron.com To write about Enron I was inspired by documentary movie “Enron: The Smartest Guys in The Room”. It explains in details how negligence and ‘cheating’ in corporate governance can lead to disaster for whole nation. The case of Enron became classical example of the

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  • Enron

    What role did the CFO play in creating the problems that led to Enron’s financial problems? In order to prevent the losses from appearing on its financial statements, Enron used questionable accounting practices. To misrepresent its true financial condition, Andrew Fastow, the Enron’s CFO, takes his role involving unconsolidated partnerships and “special purpose entities”, which would later become known as the LJM partnership. Taking advantage from the SPEs’s main purpose, which provided the

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  • Enron

    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

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