THOUGH THE DAMAGE WAS DONE AND IT WAS HISTORY..
YET THE AFTER EFFECT IS STILL GOING ON..
SIMPLIEST EXPLANATION ABOUT WHAT HAPPENED TO ENRON:
the executives of the company knew that the company was going under. They lied to all of their employees and encouraged them to buy more enron stock.
As a result, a huge number of families had their life savings in enron stocks. The executives SOLD their stock just before the stock price crashed.
The executives, because they sold the stock when the value was high, made billions collectively. After they sold their stock, the price crashed, and the families lost out.
They could not have told the families that the company was going bankrupt, or the stock would have crashed sooner, and the executives would have lost their money.
The price of the stock went from 90.00 a share, to about .02 cents a share.
That means that if you had $90,000 in enron stocks before the crash, you would end up with just $20.00 after the crash.
People who worked for Enron lost everything, including their homes. The enron executives who knew the crash was coming and sold their stock quickly and quietly, stayed rich.
As a result, a huge number of families had their life savings in enron stocks. The executives SOLD their stock just before the stock price crashed.
The executives, because they sold the stock when the value was high, made billions collectively. After they sold their stock, the price crashed, and the families lost out.
They could not have told the families that the company was going bankrupt, or the stock would have crashed sooner, and the executives would have lost their money.
The price of the stock went from 90.00 a share, to about .02 cents a share.
That means that if you had $90,000 in enron stocks before the crash, you would end up with just $20.00 after the crash.
People who worked for Enron lost everything, including their homes. The enron executives who knew the crash was coming and sold their stock quickly and quietly, stayed rich.
Enron was an American energy company based out of Houston, Texas. In 2000, Enron was one of the largest businesses in the world. They had working operations in many areas, mainly electricity, natural gas, communications and pulp and paper.
Amazingly, Enron claimed revenues of nearly $101 billion in 2000. The problems for Enron started from the beginning, when a group of executives in the company began misleading the board of directors and audit committee. They did this by hiding billions of dollars in debt, acquired from failed deals and projects.
In the months following 9/11, the illegal activity caught up with Enron and the company failed. Enron stock holders lost nearly $11 billion, and the resulting scandal marked the largest bankruptcy reorganization in American history at that time.
Why did this happen?
ANSWER:
the culture of Enron was the primary cause of the collapse. The senior executives believed Enron had to be the best at everything it did and that they had to protect their reputations and their compensation as the most successful executives in the U.S. When some of their business and trading ventures began to perform poorly, they tried to cover up their own failures.
the conflict of interest between the two roles played by Arthur Andersen, as auditor but also as consultant to Enron; the lack of attention shown by members of the Enron board of directors to the off-books financial entities with which Enron did business; and the lack of truthfulness by management about the health of the company and its business operations
Why didn't the company's directors protect the employees and investors?
ANSWER:The board of directors was not attentive to the nature of the off-books entities created by Enron, nor to their own obligations to monitor those entities once they were approved. The board did not pay attention to the employees because most directors in the United States do not consider this their responsibility. They consider themselves representatives of the shareholders only, and not of the employees. However, in this case they did not even represent the shareholders well-and particularly not the employees who were shareholders
Some say Enron's collapse was caused by its stock options system. Do you think the executive compensation system should be reformed, and if so, how?
ANSWER:
The stock option system is not itself the problem. Excessive stock options and excessive corporate compensation give corporate executives too many incentives to manipulate the financial accounts and the stock price of the company. When huge cash or options bonuses are dependent upon achievement of one or a few narrowly defined profit or growth goals, the temptation to manipulate the numbers to get the rewards will be too great. The problem is not the stock option system but the excessive compensation given to executives in the United States, particularly compared to the salaries of regular employees of the company. U.S. companies should look more like Japanese companies in the ratio of the salaries of top executives to those of regular employees.
THE AFTER EFFECT:
COMPANIES ALL OVER THE WORLD CONNECTED WITH ENRON are affected in the short-term and will continue to be affected in the longer term.
Financial Accounting Standards Board (FASB) will pass new rules that make it harder for companies to deceive auditors and investors as long as Enron did. After seeing many investors lose their money, pension-holders at other companies have been diversifying their holdings to prevent a massive loss of their own.
NIBIRU THEORY IN 2012
NOTE...THIS IS JUST A THEORY....
a planet called NIBIRU that crosses Earth once in 3600 years and is an opportunity for the Annunaki (the inhabitants of Nibiru) to interact with the humans
This planet had passed near our planet 3600 years ago . it happened before the great flood of Noah... IN THE BIBLE..THOSE WERE THE TIMES WHEN THE GIANTS LIVE ON EARTH.. AND THOSE GIANTS INTERACT WITH THE DAUGHTERS OF ADAM AND EVE...
iTS COMING UNNOTICED LIKE as many asteroids also go unnoticed.. BUT PLEASE DONT PANIC..THIS IS JUST A THEORY
SNIPER RIFLE
Caliber 12.7 mm .50 BMG
Effective range 1,500 m
the BMW Z4 sDrive30i accelerates from a standstill to 60 mph in 5.6 seconds with the standard six-speed manual and 6.0 seconds with the optional sport automatic. Top speed is electronically limited to 130 mph (150 mph when equipped with the optional Sport Package).
Even the slightest movement of the gas pedal, therefore, is converted spontaneously into a quick response with gearshift times reduced to a minimum.
BMW’s standard Dynamic Stability Control (DSC) serves not only to activate the ABS brakes and ensure stability on slippery surfaces by activating the brakes or reducing engine power, but also comprises other functions such as Brake Drying and Brake Standby as well as a Start-Off Assistant. Acting in a similar way to a mechanical limited slip differential, DSC electronic rear brake management is used to simulate a limited slip differential for stronger acceleration in turns.
Activating Dynamic Traction Control at the touch of a button, the driver is able to raise the response thresholds for intervention by the DSC. This gives the option, for example, to set off on loose snow with the drive wheels spinning slightly. And when desired, the driver is also able to deactivate DSC altogether. In all circumstances, ABS remains active
Increasing traffic jams and pollution are two major problems that make cities a worse place to live in, not only in developing but also in developed nations worldwide. Inspired by the horse jockey, Chinese designer Guo Fu has come up with a personal vehicle that apart from reducing energy consumption also helps in neutralizing carbon emissions in urban environment. Hailed as “Urban Cart,” the personal vehicle needs very less material, in comparison to regular automobiles, which can be manufactured entirely in a bicycle factory. Combining aesthetics and detailing of conventional horse carts with modern technology, the urban cart makes you feel like riding a real horse cart
With the latest technological advancements, features and functions of mobile phones change more frequently than any other portable gadget available on the market, as we see something different and new in a cellphone every few days. Conceived by designer Jim Chan, the “Nokia 2030” is a phone concept that presents an illuminated touch sensitive keypad to allow fast and easy messaging. Featuring a body finished in reinforced scratch-resistant glass, the futuristic phone comes with full-color display capabilities to enhance the experience of the user. Measuring 2 x 4.75 x 0.25 inches (WLH) in dimensions, the Nokia 2030 also attaches colored films, at the rear, to change its color, while polished titanium case protects the screen from scratches
WOMEN WANTS MEN'S FASHION
MORE WOMEN WANTS TO BECOME THE NEXT RESIDENT EVIL & LARA
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