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Business
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| Number of pages / Number of words: |
10 / 2653 |
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For example, they benefited greatly when Enron's book value skyrocketed as a result of the SEC approval of the market-to-market accounting scheme.
Enron's board twice waived the company's code of ethics to allow top executives to work in areas of conflicting interest. The board set up an elaborate monitoring system, but board members put little energy into it, repeatedly failing to ask pointed questions, a Senate subcommittee later concluded...
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Enron's top executives were also supposed to be corporate mentors, but they personally profited from the corporate malfeasance. Many had fancy cars and mansions in high-class neighborhoods. The Enron people were living the good life.
Enron's slide toward scandal and bankruptcy exposed the failure of management at every level...
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