Kenneth Lay

and all the while, capturing huge profits for themselves. Over time, Enron had inflated its earnings by hiding debts and losses in subsidiary partnerships like energy trading, power generation, water, and retail electricity. Business Executive Kenneth Lee Lay was a man who worked in a fiduciary position for Enron. Jeffrey Skilling, CFO, Andrew Fastow along with other high-ranking employees, assisted Ley in the quick rise of the companies ranking. According to Fortune 500 magazine’s list, Enron ranked

extrapolate from these events. In recent American history the first and one of the largest of these scandals to come to mind would be the bankruptcy of Enron Corporation. If we apply and analyze the skills of a negotiator like Founder and Chairman Kenneth Lay, CEO Jeffery Skilling, and CFO Andrew Fastow it becomes clear how and why the actives of Enron were perpetuated for as long as they were. “This wasn’t about the numbers Enron was publishing, but rather it was about the people. This was a human

Introduction: The abrupt and unanticipated collapse of Enron Corporation was due to one of the largest accounting frauds in U.S. history. This scandal had significant impact on the financial markets by causing enormous financial losses for numerous investors. Before filing for Chapter 11 reorganization bankruptcy protection in December of 2001, Enron was named the "Most Innovative Company in America" by Fortune Magazine from 1996 to 2001, and also named first in 1999 on its list of the "100 Best

Snowmass, CO. In 2004 Lay was indicted by a grand jury on 11 counts of securities fraud and related charges. May 25, 2006, Lay was convicted of 10 counts against him; the judge dismissed the 11th. He died of a heart attack while vacationing in Snowmass, Colorado, on July 5, 2006, about three and a half months before his scheduled October 23 sentencing date. Lay was a faithful member of the First United Methodist Church of Houston, and on the day he died, his son, Mark, said that Lay wrote in his journal

known for its risky business tactics that would help keep them afloat in stock sales. Enron was headed by two main people that would go on to underhanded business schemes and charismatic acts that would betray the people who worked for the company. Kenneth Lay, the first CEO and the last as it collapsed, and Jeffery Skilling, the second CEO who was only CEO for about six months. These two people are very notorious white collar criminals. White collar crime is crime that is committed without violence but

about it, “In 1974, Kenneth Lay joined the Florida Gas Company, eventually serving as president of its successor company, Continental Resources Company. In 1981, he left Continental to join Transco Energy Company in Houston, Texas. Three years later, Lay joined Houston Natural Gas Co. as chairman and CEO. The company merged with InterNorth in 1985 and was later renamed Enron Corp. In 1986, Kenneth Lay was appointed chairman and chief executive officer of Enron.” (editors, n.d.) Kenneth got an executive

economy in the late 1990s, as the old millennium was ending and the new one beginning, one particular company discovered a new way to rise to the top in the trading business. Enron, originally known as a “natural gas pipeline company [started by Kenneth Lay in 1985], soon became known as an energy-trading corporation that bought and sold gas as well as electricity.” (Fox, 1). With over 20,000 employees and 40 worldwide businesses, The Houston, TX Corporation soon became a prodigy of the times. Originally

information that investors could use to make decisions. The categories of misrepresentation included in white-collar crime also involve providing false information, withholding key information, offering bad advice, and acting on inside information. Kenneth Lay was the founder of Enron in 1985 and was the chief executive officer for over 15 years. In 1990 Jeffery Skilling joined the company and later on became the chief executive officer in February 2001. However quickly resigned months later for “family

The American Dream is the idea that financial success, upward social mobility, and overall prosperity can be achieved with perseverance and hard work. It’s the idea that anyone, even the very poor, can make a better life for themselves if they are willing to work for it. It’s an idea that has become integral to American society, encouraging us to put in an effort to see our dreams come to fruition. However, when it comes down to individual experiences, it turns out that accomplishing the traditionally

jobs, and about $2 billion in pensions and retirement funds disappeared. Despite all this, Kenneth Lay, Jeffrey Skilling and Anthony Fastow profited greatly from Enron. These events resulted in the implementation of new legislation on the accuracy of financial reporting for public companies. The fall of Enron became known as the largest corporate bankruptcy in the United States at the time. CEO Kenneth Lay was a very smart man who always thought ahead of the curve. In his search for new opportunities