Unethical Behavior at Enron - 862 Words

Enron’s name was formerly Northern Natural Gas Company, which was formed in 1932 in Omaha, Nebraska. But in 1985, it bought the smaller Houston Natural Gas and finally changed its name to Enron. The â€Å"crooked E† logo was designed in the 1990s. Enron was well known for transmitting and distributing electricity and gas throughout the United States. Enron developed, built, and operated power plants and pipelines while dealing with the rules of law. They owned a huge network of natural gas pipelines which spread ocean to ocean and border to border including Northern Natural Gas, Florida Gas Transmission and Transwestern Pipeline Company. They were the companies that brought in the most cash for Enron and investments. They were the only reason†¦show more content†¦On June 15, 2002, Arthur Andersen was convicted of obstruction of justice for shedding documents related to its audit of Enron. Andersen has not returned as a viable business even on a limited scale. O ver a hundred of civil suits pending against the firm related to its audits of Enron and other companies. Andersen used to have 28,000 employees in the U.S and 85, 000 worldwide and is down to 200 which are primarily based in Chicago. The employee’s attention is focused towards the lawsuits against Andersen. As for the former employees of Enron they are struggling to get back to the lives they used to have before the fallout of Enron. When Enron filed for bankruptcy over 21,000 employees lost their jobs. In which meant losing their savings, children’s college funds and pensions. Many have lawsuits against Enron’s executives and directors. The lawsuits accuse 29 of the executives and directors of insider trading and misleading the public. Not all past employees of Enron have been left out in the cold world of business. Many have gone on to making their own businesses and banking companies. They are doing this to make up for the money they lost in Enron stocks. Wh at Enron’s executives and directors did was really shady and many deserve to be spending time in jail for a long time. They cost thousands of innocent individuals their savings and children’s college funds. ThatShow MoreRelatedBusiness Research Ethics Essay776 Words   |  4 PagesEthics Over the years unethical business research has changed the way businesses are run. Scandals were happening way too often, so laws and regulations have made adjustments in effort to better prevent the unethical practices. The company, Enron, was a leading reason for some of the changes because it was one of the largest scandals and fastest collapse of an entire corporation. 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