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When was Enron scandal created?
Enron scandal was created in 1985.
What were the common aspects that were necessary for the Enron and WorldCom debacles to occur?
The first factor behind the Enron and MCI WorldCom debacles were criminal behaviors that included the deliberate falsification of accounting. The secondary factors came from a corporate culture lacking ethics. A combination of unethical business practices coupled with criminal behavior and intent created for the downfall of Enron and WorldCom.
What was the result of the Enron scandal?
The details of the Enron scandal are: The company's financial statements were not clear to the shareholders and analysts, they also had a complicated business model and unethical practices, that required them to modify balance sheets to illustrate favourable performance.
In what year did WorldCom file for bankruptcy?
WorldCom filed for bankruptcy in 2002. At the time, it was the largest bankruptcy ever, with $107 billion in assets. This almost twice as much as that of Enron Corp.
What effect did the Enron scandal have on J.P. Morgan?
The U.S. Securities and Exchange Commission alleged that the company helped Enron set up complex financing, which allowed Enron to hide debt and make earnings and revenues look much better than the actual financial position
What mistake in crisis management was made during the Enron scandal?
Arthur Andersen waited too long to take responsibility for the tampered financial statements and this hesitation alone ruined the firm's reputation just as badly as Enron's.
What did Enron do wrong?
Enron was said to have committed fraud in an accounting scandal. Refer to the link below, for more information.
What is the mission statement for Worldcom?
Enron's motto was "Respect, Integrity, Communication and Excellence." Edit: WorldCom's mission statement as of 1998: "Our objective is to be the most profitable, single-source provider of communications services to customers around the world."
What was the ENRON Scandal?
The ENRON scandal was one of the biggest accounting frauds in the world at the time and is second only to the lehman brothers. To learn more i suggest you read the book. smartest guys in the room
What effect Enron conduct had on stock prices?
After the Enron accounting scandal came to light, its stock price plummeted to 0, which wiped out many investors who had purchased Enron's stock.
What could have been done to avoid the enron scandal?
there should have been more governmental regulation and reviews of large corporations, like Enron.
How many people were affected by Enron crash?
Thousands of Enron employees lost their jobs and retirement savings when the company collapsed in 2001. Additionally, numerous investors and shareholders suffered significant financial losses due to the scandal. The impact of the Enron crash extended to many individuals and organizations both in the United States and around the world.
