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Legal Environment of Business

by: Dr. Kayleigh Hermann

Legal Environment of Business LSTD 2106

Dr. Kayleigh Hermann
GPA 3.59

Stephanie Sipe

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About this Document

Stephanie Sipe
Class Notes
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This 1 page Class Notes was uploaded by Dr. Kayleigh Hermann on Monday October 12, 2015. The Class Notes belongs to LSTD 2106 at Georgia Southern University taught by Stephanie Sipe in Fall. Since its upload, it has received 44 views. For similar materials see /class/221980/lstd-2106-georgia-southern-university in Lstd Legal Studies at Georgia Southern University.


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Date Created: 10/12/15
Discussion Questions for Enron LSTD 2106 1 What was the difference in Enron39s stock price between 2000 and 2001 It went from 90 a share to less than 1 per share 2 Why did Enron39s executives become so rich and the employees lose everything Enron s executives engaged in insider trading and sold their shares when they knew the company was about to go under The employees who had their 401ks frozen lost everything 3 What factors contributed to the unethical conduct of Enron executives Misuse of mark to market accounting excessive bonuses based on stock price lack of oversight by regulatory agencies yank and rank system complicity of gatekeepers etc 4 What culpability did Arthur Anderson and Vinson and Elkins have in the Enron fraud The accounting firm of Arthur Anderson helped Enron to engage in aggressive accounting practices that resulted in cooking the books and it also shredded tons of evidence when Enron was under investigation by the SEC The law firm of Vinson and Elkins approved deals that it knew or should have known were fraudulent 5 What was Enron39s first known financial scandal Valhalla scandal Louis Borget 6 What was Enron39s main business activity in the early 1990s Trading in oil 7 Describe Enron39s quotasset lightquot strategy To eliminate the pumps and pipes and be the middleman in the trading of gas and oil as commodities 8 Explain mark toc market accounting Enron misused mark to market accounting by booking potential profits on the day the deal was made and then never adjusting the books when the deal fell through It basically made up false profits 9 Who ended up with Enron39s Nigerian oil barges Merrill Lynch which was really a loan disguised as a sale which made it illegal


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