A Corporation with No Morals
Some teenagers today, may not know what business ethics are.Well, business ethics is the difference between right and wrong in the business realm.There are so many companies with good business ethics but in our world we only hear about the companies with the bad ethics.One of those companies is called Enron.Enron is a gigantic corporation that deals with the electrical power in Dallas, Texas. Enron may have destroyed many people's lives due to the company declaring bankruptcy.Enron's collapse has devastated the world; especially the market place because no one thought that a corporation that big would ever fall.What the Enron executives did was morally despicable, lying to their fellow "blue collar" workers and not telling them the truth behind all of Enron's debts. "In the space of five days last week, the story of Enron's collapse went from the merely unusual to the truly baroque, with plot elements lifted from the pages of Robert Penn Warren and John Grisham" (Time Feb 2002 18). Enron executives have brought loads of controversy upon themselves.How does the seventh wealthiest corporation collapse?Why did it collapse?Who was behind all of this?Questions like these are wandering through investor's heads who invested their money in this company.
Enron was a corporation that was built up through loans or "fake money".One would call it fake money because Enron really had no clue on how many debts they owed and how many loans they had."Enron avoided paying federal income tax for four out the last five years and instead received millions of dollars in federal-tax refunds.Enron ran into financial trouble while transforming itself into a company that traded energy, water, weather derivatives and anything else it could turn into commodity" (Time Jan 2002 19).
Kenneth Lay, the former Enron chairman, resigned a few …