Enron-The Smartest Guys in the Room paper Essay Example for Free

Enron-The Smartest Guys in the Room paper Essay Answer the following questions based on the film Enron: The Smartest Guys in the Room (2005). 1. (a) Describe the ownership structure at Enron. (b) How did the ownership structure contribute to the Enron scandal? (15 points) When Enron became a publicly traded company, the employees and executives had more incentive to manipulate earnings and financials. With the shift in structure, there were more external stakeholders to satisfy, which caused the company to focus on short-term results, rather than long-term interests. The company went as far as to trade all sorts of things, including weather and broadband, in order to gain support from investors. Enron got a lot of that support. Investment banks put about $25 million each into the company. With high stakes and image on the line, Enron manipulated earnings to drive stock prices up through mark-to-market accounting to please its stakeholders. 2.(a) Describe the following three leaders: Ken Lay, Jeff Skilling, and Andy Fastow. (b) How did EACH leader contribute to the scandal? (20 points) Ken Lay was a very ambitious man. He was the son of a poor Baptist preacher. Because of Lay’s humble roots, Lay worked several jobs as a kid. He always dreamed about being a businessman one day and making huge wealth for himself. Lay believed he could have a better life with more wealth. He also believed in government deregulation. Lay had a PhD in economics. He aggressively pushed for deregulation of energy markets in Washington. His goal was to liberate businessmen from government’s hold. He took advantage of government letting energy prices float with the market, and started Enron Corporation through a few mergers. Jeffrey Skilling, former CEO of Enron, was said to be â€Å"incandescently brilliant† by many at Enron. In reality, he was a risky, danger-seeking gambler. Skilling had a Darwinian view and strongly beli eved in the idea of â€Å"survival of the fittest†. He implemented a group called the Performance Review Committee. The committee was involved in the â€Å"rank and yank† system, in which the bottom 15 percent of the company got fired each year. This ultimately led to numerous unethical actions and turning a blind eye to fraud because of employees’ determination for job  security. Skilling was a former nerd, and went on to change himself. He was very admired at Enron. When he got Lasik surgery, everyone else did too. Skilling was responsible for making energy into a tradable entity and for his advocacy of mark-to-market accounting, which was the main tool for Enron’s earnings manipulation. Fastow was a very greedy man. He served as CFO of Enron. He was responsible for running numerous companies that partnered with Enron. He mainly worked to cover up the financial fantasy land that Lay and Skilling had created. He was hired before age 30 by Skilling to join Enron. He always idolized Skilling and wanted to please him. He ended up hiding about $30 billion in debt through his companies. In addition, he skimmed off many of the deals he made, using Enron stocks as collateral. Fastow did not have a strong moral compass, and would play to the greed of the investment banks. He would offer investment banks accounts for their silence. One analyst, John Olsen, star ted to question the firm, and weeks later, was fired by the investment bank because Fastow paid off the bank with big Enron accounts. 3.(a) Describe the organizational culture at Enron. (b) How did the organizational culture contribute to the Enron scandal? (15 points) The culture at Enron was very cut-throat and filled with greed. Money drove the company and its employees. In fact, even the elevators had displays of the stock prices. The company was overtaken by hubris as well. Everyone was on the bandwagon—the accounting firm, investors, executives, and employees. The entire company thought it was changing the world. Everyone was blinded by arrogance, greed, and money. Enron was always portrayed as a super power in the market. It was said that is someone wanted to be part of the market, they had to go through Enron. In addition, many employees, including Skilling, were former nerds and had something to prove. There was a very macho culture at Enron. Skilling would organize dangerous, macho trips for employees and big clients. The stories from these adventures became legend. One man almost died from a flipp ed Jeep. Stories like that were legendary in the office. The culture ultimately led Enron to scandal because of the ideas it had put into people’s heads—that money drove everything and cash was king. 4.(a) Describe the performance management/reward system at Enron. (b) How did the performance   management/reward system contribute to the Enron scandal? (20 points) The reward systems were big. The executives and employees were all fans of the â€Å"pump and dump† system in which the employees drove the stock prices up, and would them sell the stocks off. The company was consumed by stock prices, as stocks were a large part of the compensation structure at Enron. Even the elevators had stock prices posted, so people could be reminded daily that there was more money to be made. The cash bonuses were extravagant too. In fact, a 25-year-old made a $5 million bonus. Executives were given multi million dollar bonuses. In addition, to prevent anyone from raising any flags, Enron played on the greed of the outside accounting firm, Arthur Anderson, as well as law firms. In fact, in 2001, Arthur Anderson got $1 million a week to keep things quiet and go along with everything. The la w firm was paid off handsomely as well. Analysts at investment banks would never really look into things because of greed as well. Because of all the bonuses, outsiders turned a blind eye, as did employees, which ultimately gave way to the scandal that ensued. 5.(a) Describe the regulatory/oversight weaknesses for Enron. (b) How did the regulatory/oversight weaknesses contribute to the Enron scandal? (15 points) Enron sought to take advantage of the low level of government regulation and the hyper capitalism created by the reigning consumer culture of the time. The company was run by a group of intelligent individuals who recognized they could take advantage of the government failure of low regulation. Early on while working for Enron, Lay founded many friends within Congress, including the friendship of George H.W. Bush and George W. Bush. The government helped in pork barrel legislation for the company, granting it even more power. In addition, Bush senior helped secure millions of subsidies for Enron and helped promote Ken Lay as ambassador of deregulation at large. In addition, even energy-specific regulators turned a blind eye. Pat Wood, chair of FERC, was recommended by Lay as chair, and would work with Enron in lack of government in tervention. Even the power plants in California were working with Enron at one point. Enron could call someone at a power plant and cause rolling blackouts in parts of California,  driving energy prices up. With support from the government and very low regulation and intervention, Enron had a clean path to scandal. 6.Describe three (3) specific ways, which are directly related to the above factors, that Enron-like scandals could be prevented in the future. (15 points) 1. Publically-traded companies should have a strong board of directors that oversees the company and does not have investment in the company. Greed drove Enron to do what it did, but a board of directors who has no stake in the company would be more objective and ethical in decision-making for the company. 2. There should be less compensation tied to stock performance, as that was a large incentive for fraud at Enron. People’s earnings were tied too closely to stock. 3. Analysts should be help more responsible for their actions. The investment banks they worked for got sued, but who’s to say the analysts who turned a blind eye ever got punished? They made the banks lots of money, so they probably kept their jobs and got a slap on the wrist. More consequence in the public eye would deter these actions in the future.

A Worn Path Short Story Research Paper Essay Example for Free

A Worn Path Short Story Research Paper Essay Many obstacles can be taken when one desired the most is at risk. Phoenix Jackson is an old woman who has the right intentions, but meets many conflicts on the way. In the short story, â€Å"A Worn Path†, Eudora Welty predicts that one never knows where a path will end up leading them through conflict and symbolism. Phoenix Jackson warns that one never knows where a path will end up leading to. In the short story â€Å"a Worn Path†, Phoenix Jackson goes through many obstacles on the path to find medicine for her â€Å"grandson† (Welty). Phoenix is on a mission to retrieve treatment for her grandson. She is willing to face anything that gets in the way of her path leading to her destination. As Phoenix faces her journey she will reach conflicts beyond the way. While on the path to complete her mission phoenix stumbles upon many conflicts. In the short story â€Å"a Worn Path†, Phoenix comes encounter with intimidation of a â€Å"young hunter† in the woods (Heller). The hunter tests the old lady of weakness as he boasts of himself throughout the scavenged woods. Although the hunter has a gun with any possible chance to use it on Phoenix, she resembles courage upon the conflict for going about her business and continuing about her quest. In the short story â€Å"a Worn Path†, old woman Phoenix struggled up a hill â€Å"extricate[ed] herself from a thorn bush†, and crossed a log over a creek (Piwinski). As the woman struggles to get out of the bush she chooses to not give up and continue forward her path. The woods may have brought conflict and obstacles to Phoenix, but that won’t stop her from reaching the end of her journey.

The Social Conflict Theory Sociology Essay

The Social Conflict Theory Sociology Essay Sociologists believe that there is four different ways of social conflict. Most sociologists will use the theoretical or perspective approach to help research. There are a multitude of approaches that are used by sociologist but, the mainly stick to three types of theories. The first would be the structural functional theory, then the social conflict theory, and finally the symbolic interaction theory. Within these three approaches are several more ways to gain research (Conflict Theories, 2011). The social conflict theory tries to show that society creates conflict due to the inequalities that are present in everyday life. Most sociologists will use the macro level orientation theory simply because it takes society as a whole and shows how it shapes our lives. It uses terms like inequality, power, authority, competition, and exploitation (Conflict Theories, 2011). Some of the examples that would be used in the social conflict theory are authority. Authority takes into account the family, patriarchy, race and ethnicity hierarchies of authority. In inequality there is family, health, and property. Inequality looks at how people are treated and how are perceived by others. Then there is competition which; can be anything from education, religion, to who will move over when you pass someone on the street. Competition is ingrained in all of us from the time we are born until the time we die (Conflict Theories, 2011). The power and exploitation can go hand in hand. The people that are in power or come to power got that way by exploiting citizens along the way. Power, if not kept in check, will make the honest of men corrupt. Once the corruption sets in they will use that power to exploit people along the way to gain more power (Conflict Theories, 2011). Karl Marx believed there two groups of people in society, the wealthy and the poor. He studied what would happen if one group decided to up rise against the other. He looks to see what would happen and what roles the people involved would take. Once the sides are chosen and the revolt has begun, Marx will study the inner workings of the dominate class to see how they retain their status after the conflict has ended (Conflict Theories, 2011). Social conflict can be either used for good or bad. Take any uprising against the local government. In Somalia the people have been fighting their government for equality and fairness. The government themselves are fighting its own people to keep the control or power. All across time there is human uprising against those in power. The earlier battles were fought for land, the later battles are fought for greed, power, and wealth. Some examples of bad social conflict are the recent increase in school shootings, bombings, and over all violence that is plaguing the country today. Unfortunately the innocent by stander is usually the one getting hurt or killed. This is not just limited to the United States; it is all across the globe. Those that are in power want more power and wealth to control those who are less fortunate. So, the social conflict theory is about those in power wanting to stay in power and those not in powers wanting to gain power. Throughout time there have been many battles waged in the desire to gain power. It all began with Karl Marx and has evolved over time to incorporate many other theories about crime and what causes it. There is also the realistic theory; this theory is about ones group gain, due to another groups loss. This can be brought on by limited resources, this can lead to conflict. This can lead to more friction within each group when they compete for resources. This theory is a social psychological theory thought to explain prejudice (Conflict Theories, 2011). An example for this would be immigration. With all the bombings, terrorist attacks, and violence from one ethnic group or religious group. With the recent Boston bombings, this will lead to a negative reaction to all immigrants of Muslim decent. It doesnt matter if they are of Middle Eastern decent, people will see just the color of their skin and automatically lump them into one category, terrorist. This theory can be traced back through history. It can be seen with the British and Native Americans, Whites and blacks, Japanese and American, and recently middle eastern and Americans. Most of these conflicts have happened over one ethnicity doesnt like what the other one believes, whether it is religion, politics, or moral standings. Muzafer Sherif did the famous study called Robbers Cave in 1954. He basically took two groups of teenage boys, put them in a camp, and had them compete against each other. He had 22 boys in the study, all middle class white boys. These boys all came from similar backgrounds and upbringing. He randomly assigned them to a group (McLeod, 2008). In the first week of the experiment, the two groups bonded with each other. The boys chose group names and stenciled them on their clothing and a flag. They bonded over hiking, swimming, and hanging out. This created and attachment that bonded the boys together (McLeod, 2008). In the second week he challenged the boys to competitions against the other group. He used activities like, baseball, tug-of-war and other games. The winning group would receive a trophy at the end of the competition. He also included individual prizes to create competition against the other group and within the groups (McLeod, 2008). The boys became physically, verbally, and mentally abusive towards each other. They burned each others flags, tore up sleeping areas, and had to be physically restrained by the researchers. This study showed that it doesnt matter where you come from, you can turn to prejudice (McLeod, 2008). Then there is the Game Theory which states investigates the strategic behavior of decision makers who are aware that their decisions affect one another (Skekel, 2013). The gaming theory believed that people interacted with each other similar to a game. This was done by strategic moves, winners and losers, rewards and punishments, or profits and cost. It was the first model used to describe how the human population interacts (Game Theory An Overview, 2013). So, with this theory you will have players, strategies, and consequences just like in a game. There are many types of games like zero-sum game, non-zero sum game, simultaneous move games, sequential move games, one-shot games, and repeated games. These games are used to study the gaming theory (Game Theory An Overview, 2013). A popular gaming theory is the prisoners dilemma. The prisoners dilemma shows why two individuals might not agree, even if it appears that it is best to agree (Game Theory An Overview, 2013). They use two people who have committed a crime and pit one against the other. The sentencing is done by how the criminals talk, or not talk. If one partner talks, they get sentenced and the other set free. If they both remain quiet they get a short sentence, if they both talk they both get a moderate sentence. They never reveal what the prisoners chose to do (Game Theory An Overview, 2013).

Essay --

There has been much said about the relationship between humans and dogs. Some believe that dogs are a man’s best friend, while others believe that dogs are meant only to be used to perform a certain job. Even though some see dogs only as a tool, dogs have been known to help humans in times of despair and need. Whether it be a dog helping a disabled person, or searching for a human amongst a pile of rubble, dogs can be a key factor when it comes to the well being of humans. In enormous tragedies, such as September 11th, dogs were a key element in piecing back together the parts of America that the terrorists had destroyed when they administered the attacks. Dogs are able to bring unity and support in times of tragedy. While both the working dogs and firemen contributed to the restoration of 9/11, the dogs that helped in the aftermath of the attacks were needed for much more than locating trapped victims; they were needed for support, unity, and comfort as well. There are many different types of service dogs. There are dogs that work with police and firemen, there are dogs that work with the military, there are guide dogs, and there are dogs that help people with a variety of disorders. In Debra McKinney’s online article â€Å"Service dogs provide barrier against anxiety† she researches the relationship between a woman named Sara and her service dog Hannah. Sara had a severe case of post-traumatic stress disorder as well as severe depression and social anxiety. She had tried many different medications, different therapists, but her brain was still overwhelmed with constant thoughts of suicide. When it seemed like all was lost, Sara found Hannah. Hannah was a golden retriever Labrador trained specifically to help Sara with her multiple... ...ference between humans and dogs is that once a human gets over something traumatic, the dog will not leave. A dog is not going to run away only to be seen when the next tragedy strikes. A dog is one of the most loyal and loving creatures on the planet and will be available before and after tragedy strikes. The service dogs of September 11th not only did their job by finding survivors and victims of the attacks, but they were also a source of support, unity, and comfort. Not only for the firemen but the survivors as well. The urge to bond between humans and animals and the comfort and support that dogs can give to people came in handy in the aftermath of September 11th. Had it not been for the support, unity, and comfort that the working dogs of September 11th brought, the emotional toll that this already traumatic event placed on people may have been much worse.

Environmental Apocalypse :: Environment Consumerism Population Essays

Environmental Apocalypse The environment is in a terrible condition and although an environmental apocalypse is not imminent we are definitely headed down that road. Some of the reasons for our Earth’s trouble are overpopulation, consumerism, and overconsumption. The earth’s population is ever increasing; it is only a matter of time before there are not enough resources to support life on the planet and the population begins to die off due to lack of food, water, and other resources. With our current population increase rates the population will double within the next century. â€Å"Indeed, the world population did double in thirty-seven years from 1950 to 1987.'; (Ehrlich, 1990) The problem with overpopulation is that even if we all reduce our impact on the environment, when the population doubles, so will the total impact on the earth will be doubled. Consumerism is another thing that is threatening our planet. Everyone who wants to be anyone â€Å"must have'; whatever is cool at the time. This usually means the biggest, meanest, least efficient car or the fanciest toys, generally leading to wasteful packaging and harmful chemicals or other bad stuff. â€Å"In short, Impact = Population * Affluence * Technology.'; (Ehrlich, 1990) The problem is that everyone cares too much about societies image of them that they don’t think about the results of their actions. We also have a problem with the consumption of our resources. Many of the resources that we rely like fossil fuels, forests, and water are non-renewable. We are rapidly depleting these and have nothing to use when they are gone. Our society will have a lot of trouble turning around their habits until we are desperately low on them and it will be too late. It will be difficult to develop alternative technologies because of a lack of government funding, and the people who have the money (oil companies) do not want their income taken away by a different resource.

The Use Of Animal Imagery In Othello Essay -- William Shakespeare

In William Shakespeare’s play â€Å"Othello† the use of animal imagery was evident throughout the telling of the story. Shakespeare explained several characters actions by comparing them to similarities in animals. The characters in â€Å"Othello† were often depicted as having animal-like characteristics. Some characters were even compared to animals by other characters in the play. By defining characters in terms of these characteristics one can get a clear description of what the character is doing or saying as compared to certain animals.   Ã‚  Ã‚  Ã‚  Ã‚  In this paper I hope to give examples of animal imagery used in â€Å"Othello† that assist in explaining the play. The specific examples I present will describe a character either as seen by himself or by a fellow character.   Ã‚  Ã‚  Ã‚  Ã‚  The first use of animal imagery I noted occurred came in Act One when Iago, Othello’s standard bearer, has awaken Brabantio, who was a Venetian senator and the father of Desdemona, to tell him that Othello has taken his daughter Desdemona, and as they speak is making love to her. Iago was attempting to instigate a fight between Othello and Brabantio, using Desdemona as the bait. Iago stated, â€Å"Your heart is burst. You have lost half your soul. Even now, now, very now, and old black ram is tupping your white ewe† (p. 13). In that statement Iago was comparing Othello to an old black ram by comparing Othello’s skin color to that of the black ram’s, and the white ewe, a young female sheep, to Desdemona. Shakespeare was trying to illustrate in his writing the act of and old black man making love to a young white woman. The use of a black ram and a white ewe to compare Othello and Desdemona helped in the visualization of their affair.   Ã‚  Ã‚  Ã‚  Ã‚  Shakespeare displayed animal imagery again in Act Two when Cassio was explaining to Iago that if he had as many mouths as Hydra, a many headed monster slain by Hercules, he could silence the many questions asked of him. In this Shakespeare presented Cassio as being burdened by many questions that he could not answer all at once, but if he had as many mouths as Hydra it would be more accessible for him to do so. Cassio said, â€Å"I will ask him for my place again; he shall tell me I am a drunkard! Has I as many mouths as Hydra, such an answer would stop them all† (p.101). Cassio was explaining to Iago that if he went to Othello now... ...eceptive tears. Desdemona, in the eyes of Othello, was not sorry, but was rather hiding something from him. Shakespeare’s use of animal imagery here was similar to his earlier uses. Shakespeare was trying to display a woman, who in the mind of her husband, was crying tears of deception. Othello had let his mind be so altered by Iago’s lies, that he had even began to believe everything he said. This action of Othello was fueled by his earlier animal-like change caused by Iago.   Ã‚  Ã‚  Ã‚  Ã‚  In conclusion, Shakespeare’s use of animal imagery in â€Å"Othello† was crucial to the description of the story. In â€Å"Othello† certain scenes would have been harder to understand or relate to if it was not for the animal imagery related to it. Shakespeare’s comparison of characters to certain animals is unlike any other’s. Shakespeare’s portray of a character’s emotions and thoughts through animal imagery helped in the understanding of that particular scene. Lastly, without the vivid comparisons of animals and characters, this play would undoubtedly have been more complicated to both interpret and understand. Works Cited Shakespeare, William. Othello. Toronto: Pocket Books, 2008.

Affects of childhood trauma

Trauma as a child has developing effects, mentally and physically when growing Into an adult. BACKGROUND: The ma]orally of abused or neglected kids have a harder time building relationships with anybody who is trying to help them. It is proven kids without a healthy attachment are more prone to be vulnerable stress. We all know that stress can lead to a more severe lifestyle. Depression, anxiety and aggressive behavior are all medical problems following stress and traumatic trauma. Healthy development needs a healthy foundation. I am hoping to accomplish more education and a better understanding on this certain topic. With the online library, personal experience and the many other resources available, will be the biggest factor in the development of this research paper. There are a lot of opinion, facts and psychology papers written on this topic so it is going to be important to look for plagiarism. The more credible resources I look into the better the coherence and the less likely of committing plagiarism.The more aware we are of our behaviors and what our kids take from us, the better he understanding we have about their development. 1 . Some kids take a lot more from parents than others. 2. Some kids are more mentally traumatized to neglect than a lot of others are. 3. Some kids are born more emotionally sensitive than their siblings and friends. If you are an involved member of your community such as a minister, coach or school teacher you are going to deal with others personal situations. 1 .Understanding the mindfulness behind traumatic emotions the better educated and prepared you are for that certain situation. 2. The more educated you are on the behaviors that follow aromatic experiences the more of an open eye you will have for the situation. 3. Traumatized children are more likely to engage in high risk behaviors including, self- harm and aggression towards others. The education on human behavior and emotional intelligence gives us a better self-aw areness for ourselves and others. 1 . The more education we have on our emotions the better explanation we can give ourselves. 2.Self-awareness will give us a more open eye for the actions and behaviors we see in our kids and others. 3. Understanding the responsibility of our actions and how they have an influence on our kids, plays a major role in the way they perceive life. A lot of childhood trauma come from classmates and not the parents. 2. A lot of children are â€Å"spoiled† and act out because there is no discipline. 3. Some kids are just born that way and they will grow out of It â€Å"they are not depressed nor do they have anxiety† there Just kids and there are to many parent putting kids on medicine.Response to counter-arguments: 1. Yes correct, but if you are not aware of the change in your child's behavior because f what is going on in school, then you cannot correct the problem. 2. There are differences in behaviors when your child is not getting there w ay compared to you child going through a traumatic experience. 3. That's why educating yourself is so Important to understanding the differences. Already learned to live with the emotion and start to Just act out. Sometimes medication is what's needed, Just educate yourself on the medication and get different opinions.