Term Paper: Violations Individual Ethical Violations Have Far-Reaching Effects

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Violations

Individual ethical violations have far-reaching effects: the case of Enron

Recently, there have been several highly-publicized cases of individuals given great opportunities in life or who were in positions of power who have betrayed the public's trust. Although these ethical violations were punished, no punishment can fully address how these transgressions have caused the public to question the standards by which we as a society evaluate public and personal qualifications. The example of Enron is a particularly potent case study of how the appearance of making money can cause people who should know better to overlook blatant lies on balance sheets.

Enron's notoriety has come and gone in the headlines, but that is of little consolation to the PGE employees who have been financially devastated by Enron's recent stock price collapse and bankruptcy. The perpetrators of Enron's fraud may no longer be in positions of power, but the fallout is still felt by those affected by their fraud. In 1981 PGE employees began to participate in a $401(k) plan which they expected to provide them with comfortable retirement pension, after they dedicated the best years of their working lives in service to the company. Enron purchased PGE in 1997, at which time all of the PGE's stock was automatically converted into Enron stock, without the employee's consent.

The ordinary employees had no idea that PGE had joined the fortunes and the future of… [END OF PREVIEW]

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