Kemper Coal Power Project Analysis

It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the

It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the

The faith in corporate America has been somewhat fragile with the knowledge of many corporate wrongdoings like the Enron scandal, recent financial buyout, and the ethical issues with bonuses for executives. Dipankar (2008) has a theory that

Enron was an energy trading and communications company located in Houston, Texas. During 1996-2001 Enron was given the name of America’s Most Innovative Company by Fortune magazine as it was the seventh-largest corporation in the US. The problem that led this company to bankruptcy was due to the fact that fraudulent accounting practices took place allowing Enron to overstate their earnings and tuck away their high debt liabilities in order to have a more appealing balance sheet (Forbes.com, 2002). Enron’s accounting team “cooked” the books to every meaning of the word so that their investors would not see anything wrong with the failing organization. This poorly structured company led people to jail time, unemployment, and caused retirement stocks to be dried up. Enron had a social responsibility to its stockholders and rather than being up front and honest about the failing company they hid every financial flaw in order to keep receiving money from its investors. By Enron not keeping a social

Through written form and literary techniques, the book feed elaborates on many ideas that Anderson puts forth to the responder, one idea that is evident in the book is the idea of morality using it to show that corporations are in fact evil. Morality is the ability of humanity to distinguish between right and wrong, and once we have lost this capability we symbolically lose the core of our humanity. Anderson influenced by his social context where money is power writes “We Americans are interested only in the consumption of our products. We have no interest in how they are produced, or what happens to them once we discard them, once we throw them away.” The repetition of the word “we” and the high modality used in the

This episode of American Greed presents the subtle yet very dangerous white collar criminals, whose tactics lead to financial losses with harrowing effects. The criminal in this particular case, Mr. Steven Palladino, manages an ice cream store in his neighborhood of West Roxbury and as such is a widely trusted man. The trust he obtains be founded from having been born and grown here as well as having his entire family as the mascots for his fraudulent enterprise. Having studied finance and finally making his way successfully through college to become a registered stock broker, he makes use of his social status to start in the pursuit of a Ponzi scheme under the appearance of Viking Financial. On the flip side, his investors seem to have unwavering trust in him despite the location of his office, a small

In “Cheating in a Bottom Line Economy,” author David Callahan explains the fundamental reasons for the decay of simple business ethics in today’s economy in order to meet bottom line standards. Callahan draws conclusions from everyday businesses such as auto mechanic services, law offices, and even professional medical firms to prove that people will almost always choose financial stability over integrity. The economic life in America has transformed itself into a vast land of professionals focused on achieving “lean and mean” businesses in efforts to achieve the “American Dream,” but in essence lose sense of their morals.

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.

Besides being Vancouver’s most sought after waterfront community, Coal Harbour offers residents an excellent selection of activities and things to do whatever the season or time of day. However, when the sun goes down, this eclectic neighbourhood really comes alive!

How do these corporations cheat the system? How could these corporations get away with this? Both questions instantly came to mind after viewing and hearing this discouraging and nearly depressing fact. America is being cheated and blind-sided by the actions of these selfish and arrogant firms. American citizens are being undermined by such actions. In the video; Henry Paulson says “institutions that sell shares to their government will benefit and accept an executive compensation.” This statement immediately struck me to be false, as the unemployment rate in America has done nothing but rise over recent time. Over twelve million citizens of America are unemployed and struggling with everyday life right now. America and its tax paying citizens are in desperate need of a new plan and direction towards solving their ever-growing unemployment rate and financial crisis. The government must take responsibility in leading a movement towards a plan, or even structure new laws that prevent corruption like this from happening. An in depth investigation throughout the financial industry, to prevent and enable such distortions from occurring; would greatly benefit America’s present economy.

The source of coal for the power station and oil for starting and operating will be supplied from Indonesia by ship and transferred from the unloading seaport to the site

In his article “Environment Group Aims to Stop Work on Power Plant”, Tom Parsons reports on two unnamed environmental groups who are asking the Arkansas Supreme Court to order that all work on a new power plant cease until further environmental studies have been completed.

Business Industry has witnessed the outcomes of bad moral decisions taken by business leaders. Enron’s story is only one example of corporate scandals and cases of bad moral decisions, which has not only shaken the public trust in corporations, but also affected the bank accounts of investors and employees. Before the bankruptcy of Enron; it was included in one of the fortune 500 companies after its fraudulent accounting case the share went down to $1 (Enron scandal, 2010; PBS, 2002; Godwin, 2006; Godwin, 2008).

The largest energy producer in Germany is the RWE Company that mainly burns lignite and hard coal to generate electricity. The company’s head office is located in Essen, Northrhine-Westphalia. The company has large open lignite pit mines and has been recorded as the largest greenhouse gas emitter in Europe. In 2012 alone, RWE’s hard coal imports from Columbia amounted to 29%, 18.5% came from Russia, 12% from the U.S. and 4.5% from South Africa. The second largest energy producer is E.ON that also largely uses coal to generate power. The company in 2012 imported 39% of all its hard coal resources from Columbia, 28% from U.S., 22% from Russian, and 5% from South Africa. The third largest energy producer in Germany is STEAG, which is owned and managed by seven municipalities in the Northrhine-Westphalia region. The company almost exclusively uses hard coal to producer electrical energy, making had coal imports from USA, Russia, Columbia, South Africa and Poland. EnBW has a 12% stake in renewable energy sources, but it largely operates hard coal power plants. The company’s sources of hard coal in 2012 were Russia with 30%, USA with 24% and Columbia with 23% and 12.2% from South Africa. Lastly, Vattenfall is the fifth energy producer in Germany, largely running on coal-fired power plants in Berlin and Hamburg. The company is the owner of the largest hard coal power plant located in Hamburg, Moorburg. In 2012, 40% of the hard coal in the company

The overwhelming facts point to a shady underworld of self-dealing and opportunistic exploitation of the poor and working class, which was until recently, well hidden from the commoner. The executives of WorldCom and Enron provide real world examples of unethical business practices, where the desire to make money for their shareholders transcended into an addiction to greed and self-dealing that were displayed by their, “excessive pay, perks, and golden parachutes”(Carson 392) at the expense of all stakeholders. All is not lost, there are corporations that pride themselves in their sound business model and commitment to ethical business practices. Such companies as Eaton Corporation, and Weyerhaeuser, who according to Ethisphere.com, a business ethics watchdog, are among the “2010 World`s most ethical companies.” (Ethisphere)