Andrew Fastow

one with a clique that was thought as being the “smartest” guiding the rest of the workers. It included Kenneth Lay: Chairman, and Chief executive officer, Jeffrey Skilling: President, Chief operating officer, and CEO (February–August 2001), and Andrew Fastow: Chief financial officer. With the leaders known to be wise and smart, the workers and traders believed in them. They did what was asked of them by the employers. The clique ensured money was not an issue for the workers and subsidies were allocated

SECTION ONE : INTRODUCTION ENRON was established back in 1985 as an interstate pipeline company following the federal deregulation of natural gas pipelines. It was born from the merger of Houston Natural Gas and Omaha based InterNorth, a Nebraska pipeline company. Enron incurred massive debt as a result of the merger which led to it losing exclusive rights to its pipelines. Enron at this point had to come up with a new innovative business strategy in order to survive. CEO, Kenneth Lay hired services

In 1985, two companies, Houston Natural Gas, and InterNorth merged to form Enron. Kenneth Lay wanted to create a company that can supply electricity and natural gas at a much lower price. As time went on, Enron ranked as the nation’s sixth largest energy company with global internet trading commodities in plastics, steel, petrochemicals and waste water to name a few (Fusaro, 2000, p. 157). From the time they merged to form Enron up to the point of their collapse, Enron’s executive committee had squandered

Introduction Throughout society, several individuals ponder on the notion: “How does greed lead to one’s demise?” However, before discussing the consequences of greed, one must consider its motives. Greed is developed when an individual faces adversity early on in life or becomes envious of others because it motivates them to search for an alternative that fills the void of deprivation. To guarantee that their desire is fulfilled, their greed will lead them to perform impulsive and irrational actions

behavior, and the criticism of it, with the 9/11 attacks. All three started dumping their stock based on their most inside information months before the company tanked, and this forms the bases of the cases against Skilling and Lay, which are underway. Fastow opted to fink out on his bosses, after they set him up as the fall guy. If this film does not prove, once and for all, that the glorious myth of the free market is a fraud, nothing will. On the superficial level, the attitudes and motives behind

I think he is very smart as he said in the interview for matriculation at Harvard University, “I’m fucking smart,” but his intention and attitude was too much wicked towards people who he bankrupted as a leader of a company. The neuropsychologist Ian Robertson at Trinity College, Dublin (2012), used Jeff Skilling’s case when he demonstrated the critical sample of addiction to power on his book. Professor Robertson described that testosterone is strongly boosted up after many leaders have experience

“Enron’s organizational culture” Questions for Discussion 1. Explain how Enron's culture influenced practices outcomes, include advantages and disadvantages Answer: the advantages of Enron’s culture are that they were very aggressive (saying yes to other projects) and unethical (corruption, corners cutting), in that way the company can generate a quick grow. But the disadvantages are very high; they completely lost control of the company because they gave freedom to young and

in the U.S… Enron failing did not happen overnight it took years for all the players, and problems to pile up and bring the company to its knees. Some of the main players that are going to be in the spot light are Ken Lay, Jeff Skilling, and Andy Fastow their bad management and unethical behavior was

Jordan Belfort By: Steven Harrison Jordan Belfort was a very dishonest man. He was the CEO of a very dishonest investment company. The company’s name is the “Stratton Oakmont” He and his partner Danny Porush made up stories and told the investors just so they would invest in that product. He made millions just by lying to get people to invest in that product. There company lived by a motto and that was "Don't hang up until the customer buys or dies." Jordan lied and when the Investors call to talk

Business Journal, 2016). During this time Andrew Fastow was the chief financial officer of the Enron Corporation and the pioneer of the financial implication that brought Enron crumbling down. In this nine-year time frame this feat was admired by companies around the globe. Andrew received a CFO Magazine award for his work at Enron and had lavish parties celebrating the results of the quarterly earnings (Ivey Business Journal, 2016). Unbeknownst to Andrew Fastow, just three years after raising the value