Essay Enron s Weather Derivatives

The government does have weather manipulation tech, it’s called HAARP (High Frequency Active Auroral Research Program) the purpose of weather modification is to prove that this isn’t a conspiracy, weather manipulation is possible, cloud seeding is a common way to modify weather the government does not control the weather, the US Army and Air Force do, but the federal has tried to take down HAARP so many times, HAARP is also used for locating weapon facilities, the purpose for altering the weather is to prevent any bad weather happening before it’s too late, also so it wouldn’t ruin any special events, like parades, parties, and so on.

Extreme weather is one of the most important climate issues in the world today. Between January 2000 and June 2017, approximately $471.75 billion USD has been spent to repair damage from extreme weather events (Center for Climate and Energy Solutions, 2018). These events have resulted in over 3,000 deaths. Residents in frequent areas of these phenomena have been affected through loss of shelter, food, water, and life. 8 hurricanes have hit the U.S. within the last 17 years. Droughts in California and surrounding states have decreased yields of pastures and crop fields.

Greg Whalley, (former Enron President and Chief Operation Officer) had six to eight conversations last fall with the Treasury’s Department Peter Fisher, including one in which he asked Fisher to call Enron’s lenders as they decided whether to extend credit to the company.

Enron, the natural gas provider turned trader of natural gas commodities and in 1994, electric, was once touted as the seventh largest company in America. Kenneth Lay, founder, began changing Enron from just a provider into a financial energy powerhouse. Lay took advantage of the dot-com boom of the late 1990’s by creating Enron Online, an internet trading platform. Internet stocks were valued at astronomical prices and were all the rage on wall street, who accepted the increasing prices as normal (Investopedia). On December 2, 2001 Enron declared chapter 11 bankruptcy, resulting in the loss of twenty thousand jobs and billions of investor and creditor dollars. Enron, once designated as "America 's Most Innovative Company" by Fortune for six years consecutively, enacted massive financial fraud at the fault of its top level executives: Kenneth Lay, Jeffery Skilling, and Andrew Fastow.

The word “fraud” was magnified in the business world around the end of 2001 and the beginning of 2002. No one had seen anything like it. Enron, one of the country’s largest energy companies, went bankrupt and took down with it Arthur Andersen, one of the five largest audit and accounting firms in the world. Enron was followed by other accounting scandals such as WorldCom, Tyco, Freddie Mac, and HealthSouth, yet Enron will always be remembered as one of the worst corporate accounting scandals of all time. Enron’s collapse was brought upon by the greed of its corporate hierarchy and how it preyed upon its faithful stockholders and employees who invested so much of their time and money into the company. Enron seemed to portray that the goal of corporate America was to drive up stock prices and get to the peak of the financial mountain by any means necessary. The “Conspiracy of Fools” is a tale of power, crony capitalism, and company greed that lead Enron down the dark road of corporate America.

2. On an individual basis, people use weather forecasts to make a decision regarding what to wear, whether they need an umbrella, guard against the sun or even medication against oddly high pollen

The first driver is observed climate change impacts. In Canada, and in Ontario specifically, the ways in which the climate is changing are generally known to us. Shorter and warmer winters, earlier snow melts, increased extreme precipitation, and extreme heat events. These observed climate impacts and more frequent extreme weather events are proving to be very costly. The Insurance Bureau of Canada, for instance, reported that the value of total insurance claims related to weather events has increased 40 fold between 1983 and 2013 (Burgess, 2014). Impacts on the health and well-being of Canadians are also displayed beyond monetary costs and frequently involve displacement, injuries and loss of life (Lemmen & Warren, 2008). Without aggressive

Some of the duties that meteorology is done all around the world and most of the jobs they do has to deal with tornados, water spouts, or even hurricanes

This contract can be done by buying the premium of weather insurance to cover weather risk.. Currently, UGG purchased a number of different insurance policies for various traditional risk exposures. Each policy had its own retention level and its own coverage limit. By integrating it various coverages under one policy, UGG could replace the individual deductibles and limits with an overall annual aggregate deductible and limit that would apply to all or a subset of losses, including grain volume losses.

The fall of the colossal entity called Enron has forever changed the level of trust that the American public holds for large corporations. The wake of devastation caused by this and other recent corporate financial scandals has brought about a web of new reforms and regulations such as the Sarbanes-Oxley Act, which was signed into law on July 30th, 2002. We are forced to ask ourselves if it will happen again. This essay will examine the collapse of Enron and detail the main causes behind this embarrassing stain of American history.

This paper will focus on finding detailed information about this weather anomaly. It will also focus on explaining how these changes have occurred and touch on the probability of such fluctuations. By learning more about climate patterns, society can learn how to prepare for them, as they have in the past. These climate deviations must be well recorded and acknowledged to make a difference in the way society views weather in general. One must also touch on how these differences affect many other aspects of life and Earth. Variations to global weather and climate can affect life across the world. Constant weather changes affect many aspects of society, not just living conditions, this paper will focus on analyzing these alterations. Some of these consequences involve Global economics, international relations, local economics influences and how other natural compositions can

The text states that an increase in severe weather will result in droughts and blackouts, loss of livelihood and property, and these events will increase the strain of people. The author does

1. The Enron debacle created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices.

Established in January 1999, Pine Street Capital (PSC) was a market-neutral hedge fund that specialized in the technology field, facing market risk and trying to decide whether and which way to use in order to hedge equity market risk. They choose technology sector because the partners of PSC felt that they have enough ability to evaluate this sector and specially be good at picking out-performing stock. Short-selling of NASDAQ and options hedging strategy are the two major hedging choices for PSC. Either strategy has its own advantages in different economic periods and conditions. The fund has just through one of the most volatile periods in NASDAQ 's history, and it was trying to decide whether it should continue its risk management

Even though the price would be lowered because of the bad weather as per the tying in price and weather policy, not everyone would still want to go away. Either it needs to be explained clearly on the website that undesirable weather will not entitle any customer to a refund or to change or cancel their booking without penalty; or the policy must be clear in whatever the company decides is fair. For example, it may state that if the weather is unpleasant can change (but not cancel) the booking to another time.