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The bankruptcy of Enron Corp. has evolved into a scandal of enormous proportions involving allegations of fraud, corruption and unethical practices on the part of Enron’s…
The bankruptcy of Enron Corp. has evolved into a scandal of enormous proportions involving allegations of fraud, corruption and unethical practices on the part of Enron’s corporate executives, members of its board of directors, external auditors, and high government officials in the USA. No doubt there will be many articles written about various aspects of the Enron scandal. The focus of this paper is on the relationships between Enron’s business model and the deregulatory phase of the American economy during the 1980s and 1990s. It is the argument of this paper that deregulation in the US electricity and natural gas industries fostered the creation of the Enron business model, and that this model was unsustainable, resulting in the demise of Enron Corp. Furthermore, while Enron can be viewed as an example of capitalistic excess, the paper reveals how the Enron business model developed as an American form of a public private partnership, similar to the types of public private partnerships that have been created in recent years in the UK. Investigating Enron as a public private partnership may help us to better understand the role of public private partnerships in contemporary capitalism and shed some light on the advisability of deregulatory schemes and the unintended consequences that can result from such schemes.
This chapter examines the changes proposed to the current media ethics and regulation regime in Australia following a government inquiry by former Federal Court judge Ray…
This chapter examines the changes proposed to the current media ethics and regulation regime in Australia following a government inquiry by former Federal Court judge Ray Finkelstein. The inquiry was prompted by The News of the World phone hacking scandal in the United Kingdom, which resulted in that publication being closed down by its publisher, News International, and principal shareholder Rupert Murdoch. While finding no evidence of similar misbehaviour by journalists and proprietors in Australia, Finkelstein recommended the establishment of a statutory News Media Council, and the inclusion of online media outlets in this new regulatory regime. This chapter argues that such a regime is unlikely to come into effect, given that it will be opposed by media proprietors and working journalists alike, as well the Federal Opposition, and the taxpayer funded ABC, and that a government with low levels of political capital is unlikely to risk much of that capital in a fight with the media industries in an election year.
Online education. Dialog. named the Eagle‐Union Community School Corp's project INSITE the First Place winner of its annual Excellence in Online Education Awards. The award was presented at the Databases in Schools conference held in conjunction with Online/CD‐ROM '91 in San Francisco. The recipients received a plaque and $2000 worth of online connect time for use in the Dialog Classroom Instruction Program of their choice.
Web newspapers promise low cost searching. World Wide Web editions of three major newspapers have gone live on the Internet, offering either free or low cost access to full‐text articles, and the ability to search archives of back issues. Both News International, which is offering the UK Times and Sunday Times, and the New York Times anticipate there being little impact on revenues through third party hosts.
This paper traces the development of Enron Corp. from a regulated natural gas distribution company to a worldwide energy trading company to its ultimate demise in…
This paper traces the development of Enron Corp. from a regulated natural gas distribution company to a worldwide energy trading company to its ultimate demise in bankruptcy in December 2001. The paper examines whether Enron should be viewed as an accounting failure, with investors and creditors being severely misled by false financial statements, or whether it was a business failure that was obscured by accounting practices that strained the limits of credibility. It is the contention of this paper that astute financial analysis would have revealed the instability of the Enron business model, thereby alerting investors and creditors to the lack of credit worthiness of the company. At the same time, the paper argues that had there been an appropriate level of transparency in the financial statements, investors and creditors would have been provided with a more realistic view of the company’s financial position and its results of operations, thereby facilitating their ability to assess the viability of the company and avoid their bankruptcy losses.
Facebook on February 17 cut off its users from Australian news, in protest against the proposed legislation. News publishers want ‘big tech’ that earn advertising revenue…
In this historical analysis, Jacques Ellul’s theory of propaganda is applied to analyse the changes of China’s propaganda. It is found that China’s propaganda is…
In this historical analysis, Jacques Ellul’s theory of propaganda is applied to analyse the changes of China’s propaganda. It is found that China’s propaganda is undergoing structural transformations from depending on human organisation to extensive control and use of media technology. Sociological propaganda as a complement to political propaganda has significantly expanded; integration propaganda replaced agitation propaganda. International image management by the government has become a new dimension of China’s propaganda. The research is one of the first to observe such structural changes.
This paper explores how firms within the audience measurement industry, specifically its radio and television markets, have navigated myriad market and nonmarket…
This paper explores how firms within the audience measurement industry, specifically its radio and television markets, have navigated myriad market and nonmarket challenges. The market strategies and the nonmarket forces that constrain those strategies are largely defined by two features: the delineation of its geographic markets by political boundaries and markets that have natural monopoly characteristics. While the pre-monopoly stage or periods of competition may be comparatively short-lived, they are still telling. Monopolists undertake market strategies designed to ensure that they are not supplanted and nonmarket actions geared to avoiding undesirable constraints and reputational damage. Depending on their legal and regulatory environment, customers of the measurement services have used both market and nonmarket actions to mitigate the market power of the audience measurement firms. This paper focuses primarily on the U.S. radio and television audience measurement markets that Arbitron and Nielsen, respectively, have dominated for decades. Non-U.S. markets, which frequently feature America’s foremost firms, illustrate alternatives to America’s largely laissez-faire approach.