the early 1990s to $101 billion in 2000, ranking it seventh on theFortune 500.
In 2001, however, Enron eventually faced the ending ofits glorious days. On October 16, Enron reported its first quarterly loss in 4 years, taking a charge against earnings of $1 billion for poorly performing businesses. On November 8, the company announced in a Securities and Exchange Commission (SEC) filing that i
its major clients and got accused by its negligence in auditing Enron.
1.4. Mid- and long-term impacts on American energy industry
After Enron crisis, financial institutions raised the rate ofinterest on loans for energy-related corporations. Traditionally, energy industry’s liabilities are larger than other industries’. Thus, the financial difficulties became even more burdensome to energ
the CEO in this company and about the merger. After this, there is a SWOT-Analysis of K-mart. It explains about the strength, weakness, opportunity and threat of Kmart. Also there is the process ofthe bankruptcy of Kmart. Inthe part ofthe reasons of bankruptcy, there are three big causes that led Kmart to fail. Next we compare Kmart with Wal mart. Due to bankruptcy of Kmart is related with th
The financial crisis was possible because of deregulation legislation instituted in 1996 by Governor Pete Wilson (Republican). Enrontook advantage of this deregulation and was involved in economic withholding andinflated price bidding in California's spot markets. The crisis cost $40bn to $45bn.
3-(2). Another view ofthe reasons for bankruptcy
① Fraud of private enterprises
FTCR, Fo
the Justice Department refused to approve the final proposed merger with Sprint, WorldCom came unraveled. It resulted mainly from the burst inthe dot-com bubble andthe resulting decline inthe telecommunications industry.
There was a 52.8% decline in employment inthe telecom industry from 2000 to 2002. WorldCom could no longer sustain what had been phenomenal revenue growth.
When Enron col