The Ethics Of The Enron Scandal

1902 Words Jun 7th, 2015 8 Pages
Ethical Scrapbook In the three excerpts that will be discussed in this report there is a theme. That theme is ethics or the lack there of. What all three of these cases have in common is that people were willing to trade in their reputations, their livelihood and in some cases their personal freedom to get what they wanted. In two of the examples, the prize they sought was money, pure and simply a case of greed. Importantly, these people already had significant wealth, and they were willing to take the chance on losing what they had already attained to get more. In the other case, the defendant’s ethics are what initiated his behavior.
Enron

The first story is without a doubt one of the most serious cases of its kind. The Enron scandal, Enron began as an interstate pipeline company in 1985, Kenneth Lay was the CEO and in 1986 became the Chairman of the company. His ambition for the company encouraged expansion into new ventures, they launched a broadband service unit and Enron Online. The new unit operated a commodities trading website that soon became the largest business site in the world. In early 2001 Jeffrey Skilling had become the company’s CEO, he was the driving force behind Enron’s renovation. However, by August of 2001 he announced his resignation, and in October 2001 Enron reported its first loss of $618 million dollars (Silverstein, 2013). The CFO Andrew Fastow was replaced and the Securities and Exchange Commission launched an investigation into…

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