Tuesday, December 31, 2019

Essay on The Enron Disgrace - 2857 Words

The Enron Disgrace: Abstract: Ray Bowen, a Citigroup banker at the time and now Enrons chief financial officer, once asked Mr. [Andrew Fastow] about a batch of complex equations that filled a whiteboard in the conference room next to the Mr. Fastows office. quot;You cant tell me you understand those equations,quot; Mr. Bowen commented to Mr. Fastow. Mr. Fastow replied: quot;I pulled them out of a book to intimidate people.quot; The Fastows headed to Mrs. Fastows native Houston in 1990, both taking jobs at a young company called Enron. Just five years old, Enron was starting to evolve from a natural-gas and pipeline company into a trading firm. Mr. Fastow was one of the first managers hired by Mr. [Jeffrey Skilling], who himself†¦show more content†¦Eventually it led Enron to collapse under the weight of mindbogglingly complex financial dodges. Last week brought the first criminal consequences, as former financial executive Michael Kopper pleaded guilty to charges that he helped build a web of partnerships that disguised Enrons waning fortunes and funneled millions to himself, Mr. Fastow and others. The plea made it clear the federal government is now preparing a case against Mr. Fastow. Finance and accounting remain the core of the Enron story, but the companys cowboy culture -- and the way top bosses such as Mr. Fastow and former Chief Executive Jeffrey Skilling inspired it -- are also key to understanding what happened in this historic business debacle. Only now is the full scope becoming apparent, amid government probes and a growing willingness by some former and current employees to speak about it. Enron executives lived large, beginning with fast cars. Porsches were one favorite. Former Enron Broadband Services Chief Kenneth Rice drove in Ferrari Challenge races, an exclusive series for the rich. quot;They were guys who could afford not only to buy Ferraris, but to wreck them,quot; says Todd Renaud, a former information technology director at the company. Sometimes, employees celebrated their deals or trading wins by heading off to a local strip club. Brittany L. Lucas, a dancer at a club called Treasures, recalls aShow MoreRelatedWhy Enron Collapsed?1143 Words   |  5 PagesWhat are the reasons why Enron collapsed? * Investments Enron dealt in energy. According to Infinite Energy, the first and main cause of Enrons collapse was failed investments. Enron invested money in fiber-optic networks, a power plant in India and water distribution in the United Kingdom, to name a few. While a company the size of Enron could afford occasional losses, the mounting, failed investments added up and created a plethora of debt. * Hidden Losses Infinite Energy states thatRead MoreEnron And The Enron Scandal1387 Words   |  6 PagesEnron, The Shadiest Guys In the Room When you ask young people about the Enron scandal today, most of them have not even heard of it. The fact of the matter is, it is very relevant to young professionals today. Enron is the most recent story of classic Wall Street greed and fraud. However it is still argued today by different stakeholders who are is responsible. This essay will take the viewpoint from multiple stakeholders to use the Enron Scandal as an example to further explain American corporateRead MoreExecutive Office Of Houston Natural Gas1689 Words   |  7 Pages Enron was created in 1985 when Houston Natural Gas and InterNorth merged together. Houston Natural Gas was a utility company based in Houston, Texas before being taken over by InterNorth. InterNorth was a very large energy company based out of Omaha, Nebraska. They specialized in natural gas pipelines, but also were successful in the plastic industry, coal and petroleum exploration and production. In the beginning Kenneth Lay, who was the Chief Ex ecutive Office of Houston Natural Gas, becameRead MoreThe Sarbanes Oxley ( Sox ) Act Of 20021617 Words   |  7 Pagesthe focus here will be on two of the largest financial scandals leading up to the passage of SOX, which are of those of Enron and WorldCom. In October 2001, Enron announced it was reducing after-tax net income by approximately $500 million shareholders’ equity by $1.2 billion. It also announced that it was restating net income for the years’ 1997-2001. In November 2001, Enron recognized in a federal filing that it overstated earnings by nearly $600 million since 1997. Within a month, they declaredRead MoreThe Case Of Enron And Arthur Andersen Co1829 Words   |  8 Pagesto pay your debts? That is where bankruptcy comes in. Not one person desires to do it, but you can go before a judge and have your past debts forgiven. Nowadays, certain people file for bankruptcy, businesses, individuals, and it no longer has the disgrace it once had. Now it is almost considered a sensible way to recuperate and come back again. According to Business Dictionary bankruptcy is a legal procedure for liquidating a business or personal property owned by an individual that cannot entirelyRead MoreEssay about Enron: The Smar test Guys In The Room1948 Words   |  8 PagesEnron’s ride is quite a phenomenon: from a regional gas pipeline trader to the largest energy trader in the world, and then back down the hill into bankruptcy and disgrace. As a matter of fact, it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization, from all personal (prescriptive and psychologicalRead MoreEnron: the Smartest Guys in the Room1989 Words   |  8 PagesEnron’s ride is quite a phenomenon: from a regional gas pipeline trader to the largest energy trader in the world, and then back down the hill into bankruptcy and disgrace. As a matter of fact, it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Enron is also one of the most celebrated b usiness ethics cases in the century. There are so many things that went wrong within the organization, from all personal (prescriptive and psychologicalRead MoreAnalysis: Essays About Lying1063 Words   |  5 Pagesscandal. Those accused swore their innocence even in the face of obvious guilt. Gray addresses this aspect of lying as follows: â€Å"Here rest the domains, familiar to everyone, of being on the spot, of feeling guilty, of fearing reprimand, failure, or disgrace, and on the other side of the ledger, of wishing to seem more impressive to others than the bald facts allow.† This type of lying is used to make the liar seem better than they really are. It can be used to increase publicity, wealth, or interestRead MoreThe Concept Of Corporate Social Responsibility Essay1696 Words   |  7 Pagesexample of business ethics is the accounting ethics - it depends on the integrity of the honesty and transparency of accounting. A lack of business ethics accountant allowed at Arthur Anderson dishonest, when open and responsible for publishing the Enron audit. Therefore, the shareholders are hurt, the company closed down, and some Arthur Anderson accounting held their legal liability for violations of business ethics. (yourdictionary, 2016). The law often guide business ethics, and provides a basicRead MoreThe World s Oldest Profession For Nothing1613 Words   |  7 Pagesâ€Å"Prostitution isn t inherently immoral, any more than running a company like Enron is inherently immoral. It s how you do it that counts. And the reality is that it will happen anyway. It s not called the world s oldest profession for nothing. Why not make it, at the least, safe and productive?† -JEANNETTE ANGELL of A Wellness Perspective on Prostitution, Freedom, Religion, and More, Seek Wellness, Apr. 30, 2005. Prostitution, known as the world s oldest profession, and it exists everywhere

Monday, December 23, 2019

Effects of Globalization Towards Our Culture - 721 Words

How does Globalization Affect Cultural traditions? Globalization is very synonym to us since the past few years. It can be defined as process by which regional economies, societies and cultures have become integrated through a global network of communication, transportation and trade. Globalization also has made a vast change in every angle of humans life and one of it is, our cultural tradition could be affected due to globalization process. Culture is what people eat, how they dress , beliefs they hold and activities they practice. Globalization has joined different cultures and made it into something different. There are three things that could be affected: Food culture, traditional attire and traditional performing arts. First†¦show more content†¦They feel that international culture as good for them.As a result, they tend to follow these cultures and we can see many people started to wear jeans , skirts and what not. As Globalization has made the trade became global and faster, cloth products from foreign countries ca n easily enter this country. So, people can easily get foreign clothes in various supermarket all over the country. As time goes by, people that wear others attire is increasing gradually while on the other hand, the traditional attire are less worn and only be wore in certain places or events, not so frequent as before. As a conclusion, Globalization does affect the traditional attire of particular ethnics as they tend to wear foreign clothes as it is regarded as international attire. In addition, another effect of Globalization is the deterioration of traditional performance arts due to the entrance of lot of foreign influences in performing arts. One of kinds of performing arts is music. Every ethnic or nation have their own traditional music and it is part of culture. But, in this Globalization era, the traditional music and songs have declined gradually. People nowadays tend to look for modern music like Rock, Pop and RnB rather than hearing to traditional songs. They are also attracted towards foreign artists such as American artists as they bring modern music that fulfill the need of people in this century. Not just that, local artists also tend toShow MoreRelatedThe Positive and Negative Effects of Globalization1570 Words   |  7 PagesThe Positive and Negative Effects of Globalization Is Globalization ultimately positive or negative, or somewhere in between? I believe it depends on who you ask the question, and how it affects their life. For myself, I can’t get passed the negative way it has impacted my life and others around me in the same situation. Those of us who have lost our jobs and livelihood and are now labeled as â€Å"the long term unemployed† have seen our jobs eliminated and outsourced overseas; find it hard toRead MoreThe Globalization of Culture: Cultural Homogenization1707 Words   |  7 Pagesway-of-life. With the dawn of globalization, however, cultural variety and distinguishing characteristics are vanishing; giving rise to a monoculture common to all. While this may be a harbinger of unity and relatedness among all people of the world, it also damages the unique cultural identities they once took pride in. This paper discusses the effects of globalization on culture, along with its positive and negative effects. Since the effe cts of globalization on culture are non-exhaustive, it is attemptedRead MoreEssay The Phenomenon of Cultural Globalization747 Words   |  3 Pages The term globalization is commonly used to describe the increased mobility of goods, services, labor, and technology throughout the world. Globalization is a social change; it is really an increase in connections among societies and their elements. Globalization has become identified with a number of trends, most of which developed in the period after World War II. The developments of technology, organizations, legal systems, and infrastructures helped enable this movement to occur, thus leadingRead MoreFrom Agriculture To Industrialization To Innovation And1583 Words   |  7 Pagestoday’s society. Globalization exists beyond the ends of America. The rapid growth of local and global relationships proves our interdependency. Our willingness to effectively and cooperatively communicate determines our fates in this globalized w orld. Globalization is â€Å"the expansion and intensification of social relations and consciousness across world-time and world-space† (Steger, 2013, p. 15). The four main dimensions are economic, political, ecological, and cultural. Because the effects of globalizationRead MoreThe Impact Of Globalization On Cultural Diversity1394 Words   |  6 PagesNowadays, the traditional cultures are disappearing since diverse cultures play a critical role in the society. Many people have been experiencing the negative effects of the globalization process. This paper will be focused on the impact of globalization on cultural diversity. First, it is about the concept of multiculturalism which is an adequate concept of culture today. Second, it will be explained about the difference of cultures which are supposed to considered equal by defining the term minorityRead MoreAnalysis Of The Article Case For Contamination 1410 Words   |  6 PagesMedgina Jasmin REL 2011 Case for contamination Review If we were to lay the topic â€Å"effects of globalization† on the table, what assumptions might arise? Well, one might point out whether globalization can be considered as a positive thing or negative thing towards different cultures. The article â€Å"Case for contamination† gives insight on the author’s views and arguments towards globalization and how that intertwined with the people in Ghana. The author of the article named Kwame Appiah who isRead MoreThe Impact Of Globalization On The Society1114 Words   |  5 Pages The Impact of Globalization 3 Introduction The effects of globalization are visible everywhere. The mixing of cultures and races throughout our society is everywhere. It’s on television, in our homes and woven into our workplace. This is not necessarily a new construct; it’s just more noticeable today than in the past. The Roman Empire opened all trade in Europe, Africa andRead MoreGlobalization Is Defined As A Process Of Interaction And Integration Arising From The Interchanging World1356 Words   |  6 PagesHutchens Cultural Anthropology Globalization Unit October 17, 2014 Globalization Globalization is defined as â€Å"a process of interaction and integration arising from the interchanging world views, products, ideas, and other aspects of culture.† In other words, it is interactions and trade between people and other countries including governments. There are many effects that come along with globalization, both negative and positive. Negative aspects of globalization start with non-economists andRead MoreThe Importance Of Globalization1122 Words   |  5 PagesGlobalization is important to understand in order to determine what worked in the past and can be successful again in the future. Our many cultures, ideals and growing technology form together to create an extremely global world. We use products that were made on the other side of the world, and are taxed on practically everything. Whether the effects of our global society is good or bad, there’s no doubt that the world is constantly changing and impacting our livelihoods, so we must adapt accordinglyRead MoreGlobalization Essay1663 Words   |  7 PagesGlobalization essay Globalization is the trend towards a single, integrated, and interdependent world. Some humans may not even realize globalization plays a part in our modern lives, but examples that may be classified as evidence of this trend include: the ability to buy products from dining cuisines belonging to myriad of different ethnical cultures, a joint project in which a multinational group of astronauts are sent to the moon, the visit of a Canadian circus troupe to China, the establishment

Sunday, December 15, 2019

Chinese Discrimination in the United States Free Essays

Ethnic Groups and Discrimination Scott Johnson ETH 125 January 15, 2012 Stephanie Perry Ethnic Groups and Discrimination The Chinese immigrated to the United States in during the 1800s; Official records show that before 1857, 46 Chinese immigrants were in the United States. Over the next 30 years more that 200,000 Chinese had immigrated to the United States. This immigration wave was largely because of the push of the awful conditions in China and the pull of the discovery of gold, and, job opportunities in the west (Immigration and the United States, Schafer, 2006). We will write a custom essay sample on Chinese Discrimination in the United States or any similar topic only for you Order Now During the 1860s railroad work was abundant. The two lines, Central Union and Pacific Union, were the largest employer of the Chinese and the Irish. Working the Central Union was dangerous work through rough terrain. The work was dominated by the Chinese. Despite being 90% of the laborers the Chinese were paid less that the Irish who were 10% of the laborers. This dual labor market continues until the completion of the railroads. Regardless of being the majority of the laborers, the Chinese were excluded from the Golden Spike ceremony in Promontory, Utah. After the completion of the completion of the railroad, the Chinese immigrants continued to accept work that others would not do. This caused an industrial dependence on cheap labor to fuel the American economy. The Chinese were welcome as the economy needed them. When the labor was finished, they were no longer welcome. The Chinese welcome was short lived because of stereotypes that were prevalent before immigration. American traders and Protestant missionaries spoke to the American people of the Chinese exotic and sinister manners. These stereotypes caused sinophobia. This sinophobia directly resulted in the â€Å"Yellow Peril†, a threatened expansion of Asian populations as magnified in western immigration (answers. om). Takai, in 1989, noted that the fear of the Yellow Peril shattered any appetite to learn more about the customs of the Chinese, or, themselves as a people. Sinophobia was compounded when the government passed the Chinese Exclusion Act of 1882. This government action not only outlawed Chinese immigration and naturalization for 10 years, but it led the American people to further discrimi nation; any thought that the discrimination was unjust and unfounded was alleviated through the governmental act. At the end of the act’s 10 year run, it was continued another 10 years, and, the practice continued into the 20th century. On December 17, 1943, the Magnuson Act repealed the Exclusion Act. Repealing the act allowed growth and assimilation of the Chinese people. â€Å"The Chinese exhibit high affluence combined with a relatively high degree of segregation from Whites in a few metropolitan areas (Lee, C. N. , 2004). Redlining leads to the belief that the manisfestation of suburban ethnic districts may alleviate the need to bodily intergrate with Whites to obtain greater socioeconomic success. Despite the menial jobs the Chinese continued to grow financially, and, the affluent Chinese continued to live next door to their poorer neighborhood, an act of self-segregation; with the self-segregation encouraged forming their own chamber of commerce, public library, and hospitals. â€Å"The true destructive nature of residential segregation reared the discrimination perpetuated by the Federal Housing Administration (FHA), Homeowners Loan Act, Department of Housing and Urban Development (HUD), the real estate industry, banks, and other financial institutions (Massey Denon, 1993). Chinatown, San Francisco, is not just the largest Chinese Town outside of Asia, but is the largest example of redlining. The 1870 anti-Chinese ordinances passed in San Francisco to curtail housing and employment options. The ordinances passed successfully pushed the Chinese into an unwanted area. Having them in one area made it easier for San Francisco law enforcement of curfews. In the San Francisco bay area the garment industry is made up of 53% Asian workers, mostly women. â€Å"These ‘sweat shops’ are overcrowded, not well ventilated and poorly lit† (urbanhabitat. org). The garment workers are exposed to particles and toxic chemicals. Many women bring their children to work with them, and the particles and chemicals are known to be especially are harmful to children. Many Asian-American associates support reverse discrimination against Asian-Americans as demonstrated by being denied college entrance (asianam. com). Many Chinese are making donations to the very organizations that are anti-Chinese, in exchange for denial of Asian-American’s denial to colleges and universities. Thomas Espenthade and Alexandria Walton Radford examined data on students applying to college in 1997 and discovered what ooks to be different standards for different racial groups. They found that Asian-Americans needed to have nearly perfect SAT scores of 1550 to have the same chances as other races which were requiring scores of 1100 to 1410. They also noted that other races were three to 15 times more likely to be accepted to university. Stephen Hsu noted that it appe ared that the university’s magically end up with 20% Asian students. One Princeton lecturer asked if that number represents the â€Å"Asian Ceiling†. Is affirmation action working? â€Å"Advocates of affirmation action argue that it is needed because of historical discrimination. Maybe that was true in 1970, but it is no longer true affirmative action is now a part of the minority machine, an indispensable component which is perpetual victimhood† (jonstosselfoxnews. com). Yet another straddle that the Chinese have endured is the Glass Ceiling. Although experienced by both men and women, a double jeopardy has been attached to Chinese women. A Chinese man has a better opportunity to move up the ladder than a Chinese woman. In general, at Lawrence Livermore National Laboratory in 2000 one in 10 is on the professional staff while one in 25 was a manager (Varma, 2004). As a whole, the Chinese are underrepresented as CEOs. Board members, and high level managers. While researching this essay I have discovered that the Chinese-Americans have endured. Upon arrival in the 1800s. I have become more culturally aware of their movement to quash stereotypes and discrimination, and there attempt to mainstream there culture in the United States. 1) asianam. com 2) jonstosselfoxnews. com 3) Lee, C. N. , 2004 4) Massey Denon, 1993 5) Immigration and the United States, Schaefer, R. D. , 2006 6) urbanhabitat. org 7) Varma, 2004 How to cite Chinese Discrimination in the United States, Papers

Saturday, December 7, 2019

If You Pitch It, They Will Eat free essay sample

There is a reason why so many people are obese. The main reason is food, the kinds of foods are not just fast food but food what we call junk food. Who is responsible for this, is it the people who consume it or is the companies that produce and promote their food. I think they are both to blame and there is always a good and bad in everything. If you are twenty percent over your normal weight you are considered obese. We have to make the right choices when it comes to food because we decide what’s good and bad for us and we are free to choose but not from the consequences. In our society we all know that McDonalds and other companies target young kids into consuming their unhealthy food which causes obesity. Most kids are introduced into these kind of fast foods through advertising and toys which kids prefer the most. Some foods are addictive which makes them come for more and more and it makes them more obese. â€Å"advertising is nothing new, but is more prevalent than ever†. (Barboza) He also said that there are more schools that offer fast food choices mostly because some schools have contracts with companies. â€Å"You are what we eat†. (Ludwig Feuerbach). If you consume fat you become fat. If the Companies produce products or foods that are unhealthy for human consumption but for their own benefit they will find the most efficient and economical way to produce the food at a lower cost also that it’s affordable to most people. If companies become more responsible and produce food that are beneficial for human consumption then they would have had more costumers and more happy customers when it comes to their health. We should also realize that there are good and bad out there and our choices may reflect on how we make that decision. If fast food companies were never established this problem wouldn’t have existed. I think that the companies are to blame for starting fast food, but I don’t think they had an intention to make their clients obese but they base it on business by making their franchise more affordable also think that the consumers have no idea what they are consuming due to the ignorance in nutrition or health. But most people know what’s good and bad for them and it’s their choice and decision to buy and consume whatever’s good or bad for them. And I also think that there is always a good and bad to everything, like light for darkness, the lie and the truth, good people and bad and sometimes life is like a magnet where there is a south and north pole different fields one negative and the other positive. We as humans should make the right decisions and choices when it comes to problems like this where we analyze the issue and come up with an answer. We are free to make choices but we are not free from the consequences of our choice. They should not let the company be the only people that are responsible, but they also have to know that 50% of the time it’s their fault too. If they decide not to consume fast food and adopt top a natural healthy diet, these companies would have not grown so fast and inflicted people’s life in this way. The other reason is that people should realize how many bad choices they make, â€Å"If You Pitch It, They Will Eat† (Barboza). If they use advertising to promote food the people will consume it if they convince them, because it’s cheap and easy and they tell you only the good things about it which may tend you to not think about bad things about it. There is another reason why people are obese. â€Å"It’s Portion Distortion That Makes People Fat. †. (Brownlee)According to this the amounts of food served in American restaurants are more than 2000 or 2500 calories and may exceed required. One calorie is how much energy it takes to raise the temperature of 1 gram of water by 1  °C. And the excess calories and fat that we don’t use are stored in our bodies if we don’t work out or exercise those turn into fat. The other ingredient is SUGAR also known as High fructose Corn Syrup and many other name s are given to this substance so that people are unaware what they are consuming, this is very harmful to your body it’s in Burgers to salads and it’s unhealthy to consume such ingredients because it causes diabetes, heart disease and many other illness. They offer bigger sized drinks for a smaller amount. They don’t care what they sell as long as it helps their business develop. This also shows us that the problem with fast food companies is that they serve more food than what’s needed. Because people think the bigger the food and the smaller the price they got themselves a good deal, but it’s not how much you spend that matters at the end its how much you consume. People go to fast food restaurants because they are too lazy to cook and the price is cheap and it’s FAST, so it takes less time. People should realize what they put in their mouth, it’s like eating off a trash can which is humanly disgusting, but we do realize the starvation in other parts of the world where we can witness this. Parents are also responsible for their kids’ diet. â€Å"It’s parental responsibility. †(Gonzalez). She is trying to show us that parents are responsible for what their children put in their mouth. For instance she wants to know what they are letting them eat these unhealthy food when there is available food in the refrigerator. â€Å"The Battle Against Fast Food Begins At Home. † (Weintraub) But people tend to eat fast food because its time saving cheap and fast. Fast food companies don’t care what they feed their customers they are just concerned about the profit. If parents give their children the time they deserve they will not be eating such food. â€Å"Eat a lot, do nothing and get fat, eat a lot Exercise a lot and stay healthy. †(Mitch). If we eat fast food and still exercise, we will be fine. But for some people no matter how much it’s really hard for them to bring down their weight to normal. If you just eat and do nothing but watch TV you are definitely collecting unwanted energy which is stored in your body which causes body fat. The bigger the room the more stuff you can put in, that’s how our body works in order to save more energy it creates more space and that’s what we call obesity. There are people out there that don’t have other choices other than fast-food. â€Å"Obese children don’t have access to alternatives or calorie charts† (Pamela). People sometimes don’t realize what they get themselves into because of ignorance in the field or some people don’t have choices. Now McDonalds have their nutritional values labeled on everything but the print is so small that some people will need a microscope to look at it. Only the price is big and appealing. â€Å"Fat People in America. (Schmoe)There was over 60% obese people in America including kids. Now that has dropped to 30% and it’s stayed constant for the last couple of years. And people should take fast food moderately and not overdo it. â€Å"How Can You Put THAT In Your Mouth? † (Valencia). Some people know how bad fast food is but they still eat it because they are too lazy to make their own food. That laziness is what causes obesity. â€Å"McDonalds Target Kids by giving them toys with the meal and they have no understanding about nutrition†. (Wong). I agree with him because if McDonalds didn’t offer toys with their meals there will be less kids consuming it because they will have no reason, their trying to get kids to eat it the first time and they will keep coming back for the toys or the food. â€Å"Don’t Blame The Eater. † (Zinczenco) Sometimes the eater will not know what they are getting themselves into. This is how they sustain a long term business using kids who have little or no knowledge about food or what kinds of food they should consume. â€Å"Why settle for unhealthy, fatty, disease causing fast food, when you can eat healthier foods? †(Dietrich)Why do people even make the choice to eat these foods if they know it’s bad for them? It’s because it’s out there, you just have to do what you think is good for you. We know that Fast food companies are responsible for promoting foods that are unhealthy for kids to consume because kids have no or little understand when it comes to food. They should try not to target kids and promote something that’s healthy for kids to eat. Adults have an understanding on what’s good and bad for them they should just not do what they think is not right for them. And the other reason is that you can’t blame McDonalds because they are not responsible for their choices. They will start suing the motor companies for speeding because they made their cars go faster than 65MPH. There is a limit to everything, you just have to stick to it. If you can’t take responsibility for your own choices who do you think will do it for you.