CORPORATE AFTERSHOCK 1 PHẦN 5 potx

... addressed to the Permissions Department, John Wiley & Sons, Inc., 11 1 River Street, Hoboken, NJ 07030, 2 01- 748-6 011 , fax 2 01- 748-6008, e-mail: permcoordinator@wiley.com. Limit of Liability/Disclaimer ... 0-4 71- 43002 -1 (cloth) 1. Disclosure in accounting. 2. Corporations—Accounting. 3. Industrial policy. I. Culp, Christopher L. II. Niskanen, William A., 19 33– HF5658.C667 200...

Ngày tải lên: 07/08/2014, 02:20

... November 20 02, and most were updated to be current as of early March 20 03. Apart from a few more Enron executives that may have pled guilty to various offenses, little has changed since late 20 02 in ... December 2, 20 01, virtually everyone with a televi- sion set knew that things were not as they had once seemed in Hous- ton. How could a company go from a market capitalization of a...

Ngày tải lên: 07/08/2014, 02:20

... b* FSt btT ∗ = () + ∗ () () 1, FSt btT oo = () + () () 1, Table 1. 1 Physical Commodity Storage Time: t T Money Loan: Borrow dollars S(t)— Repay dollars and interest — −S(t) (1+ r(t,T )) Buy and Store ... Natural Gas Production Company was founded in 19 53 as a subsidiary of Houston Natural Gas (HNG) to explore for, drill, and transport gas. From 19 53 to 19 85, the firm underwent a...

Ngày tải lên: 07/08/2014, 02:20

... in the Austrian and neo-Austrian tradition, such as Menger (18 71) , Hayek (19 37, 19 45 , 19 49 , 19 78a), Hicks (19 73), and Lachmann (19 78). 16 . Cash flow mismanagement was not always the norm at Enron. ... Enron’s EBITDA versus Free Cash Flows (in Millions) 19 97 19 98 19 99 2000 EBITDA 615 2,205 1, 672 2,808 Free cash flow (5, 717 ) 1, 986 (1, 108) (5,256) CORPORATE ACCOU...

Ngày tải lên: 07/08/2014, 02:20

... Millions) 19 98 19 99 2000 Revenues Natural gas and other products 13 ,276 19 ,53 6 50 ,50 0 Electricity 13 ,939 15 ,238 33,823 Metals — — 9,234 Other 4,0 45 5,338 7,232 Total revenues 31, 260 40 ,11 2 10 0,789 Less: ... footnotes) (1, 984) (2 ,53 3) (4,794) Cash revenues 29,276 37 ,57 9 95, 9 95 Cash cost of sales 26,3 81 34,7 61 94, 51 7 Cash gross margin (deficit) 2,8 95 2, 8...

Ngày tải lên: 07/08/2014, 02:20

... directors” 10 5 to a committee composed solely of “inde- pendent directors.” 10 6 And in 19 97, the BRT published a white paper titled “Statement on Corporate Governance.” 10 7 Sharpening its 19 78 recommendations, ... 19 , 20 01, Enron filed a further restatement of its financial statements with the SEC, which, among other matters, reduced stockholder equity by $258 million in 19...

Ngày tải lên: 07/08/2014, 02:20

... Bar Association (19 78 ), p. 16 27. 10 6. See note 10 2, p. 27. 10 7. BRT (19 97) . 10 8. See note 10 7, pp. 10 11 . 10 9. See note 10 7, p. 1. 11 0. Levitt (19 98). 11 1. See note 11 0. While there were a number ... See note 1 at ĐĐ 802, 8 07, 11 02, and 11 07. 210 . See note 1 at ĐĐ 902, 903, 904, and 11 06. 211 . See note 1 at ĐĐ 305, 602, and 11 05. 212 . Se...

Ngày tải lên: 07/08/2014, 02:20

... Costs by Public Utilities and Trans- mitting Utilities,” ORDER NO. 88 8 FINAL RULE, Issued April 24, 19 96 (FERC Order 88 8). 8. See http://www.americanhistory.si.edu/csr/powering/ titled “Powering ... Hirsh, Virginia Polytechnic Institute and State University, December 20 01. 9. See note 8. 10 . See note 8. 11 . See note 8. 12 . Typically forward contracts in this industry are set...

Ngày tải lên: 07/08/2014, 02:20

... the CFTC’s grant of exclusive jurisdiction. Although S . 19 51 was not enacted, a new version (incorporating many of the provisions of S . 19 51) was proposed in July 2002 as Senate Bill 2724 (S.2724). 88 We ... contracts) had traded on the New York Mercantile Exchange (NYMEX) from March 29, 19 96 , until February 15 , 2002. On February 15 , 2002, however, NY MEX delisted its electricity...

Ngày tải lên: 07/08/2014, 02:20

... MEX a 19 6,244 19 ,054,550 +18 Natural gas NY MEX 10 3,700 10 ,054,550 +78 Brent crude oil IPE b 85,274 9,344,396 +22 Gasoline T-Com c 91, 9 01 7,468,377 +12 Gasoline C-Com d 60,594 6,498,396 +10 Natural ... CEA Đ 1a (11 ), 7 USC Đ 1a (11 ) (20 01) . 62. CEA Đ 2(h)(2)(C), 7 USC Đ 2(h)(2)(c) (20 01) . 63. 58 Fed. Reg. 212 86 (April 20, 19 93). 64. See Statutory Interpretation Conc...

Ngày tải lên: 07/08/2014, 02:20

... guidance in ARB 41 , FAS 94, EITF Issue 90-15, Topic D- 14, and the SEC staff letter should be applied to SPEs that are not considered QSPEs. FASB Interpretation No. 46 (FIN 46 ) In January 20 03, FASB ... of the underlying transactions. In October 20 02, FASB issued a proposal for principles-based ac- counting standards for the United States (FASB, 20 02) . FASB concluded its proposal...

Ngày tải lên: 07/08/2014, 02:20

... exposure. 7 Dodd (20 02) estimates that Enron had about $773 billion in notional principal outstanding on derivatives contracts at year-end 20 00: $1 52 bil- lion in natural gas contracts, $26 7 billion ... unused until 19 92, credit derivatives have exploded in popularity in recent years. Nearly $1.6 trillion in notional principal was reported outstanding in credit derivatives in mid -20 0...

Ngày tải lên: 07/08/2014, 02:20

... dollar value. More than 25 0 public companies filed for bank- ruptcy protection, a 46 percent increase over the previous year’s 1 76, which itself had been a record (Li, 20 02) . And, the year ended ... judgment and rescheduled a trial date in early 20 03. On January 2, 20 03, JPMC announced that it was taking a $1.3 bil- lion charge in the fourth quarter of 20 02 largely to deal wit...

Ngày tải lên: 07/08/2014, 02:20

... sales commissions paid to them by the carrier for cellular subscriptions to ‘‘buy down’’ the retail price of the cellular phone, so that the price of The Cellular Connection: A Guide to Cellular Telephones, ... price, the phone and service will be much more valuable to you if you’ve taken the time to go over everything on the list. 30 GETTING CELLULAR SERVICE Table...

Ngày tải lên: 07/08/2014, 21:20

... to admitting the demand for finance as one of the factors influencing the rate of interest.’ (Keynes 19 37a: 247/8). We should keep in mind how Keynes defined finance, as shown above. 12 While ... future. References Chick, V. (19 92). In P. Arestis and S. C. Dow (eds), On Money, Method and Keynes: Selected Essays. New York: St. Martin’s Press. Chick, V. (19 98). ‘Financ...

Ngày tải lên: 09/08/2014, 19:22