The name of the book suggests corporate corruption; is it so real that we must resist or be fallen with it. A very powerful and capturing title!
What have we learnt from Enron and WorldCom? Do we know enough of what the major players think when the entire sager unfolded? Stephen V. Arbogast, for seven years worked as the Treasurer of ExxonMobil Chemical Company. He has 32 years of senior financial executive experience in finance working with Exxon Corporation and Exxon Mobil Chemical that will illustrate vividly the Enron story using 17 practical case studies. You can see how Enron descent into fraud, yet allowing room for students to response individually.
From the selected pivotal moments when key players faced decisions that could carry the firm across another threshold of ethical decomposition, you will get the chance to stand in the shoes of the young Ken Lay as he pondered how to handle Enron's first trading scandal. You will have the chance to consider how to oppose Jeff Skilling's plans to introduce “Mark‐to‐Market” (fair value) accounting and Andy Fastow's ever‐more aggressive use of Special Purpose Entities. You will also have the opportunity to reconsider the tactics adopted by those who did resist by using situational analysis such as should Sherron Watkins confront face‐to‐face with Ken Lay or should she take her case elsewhere.
Such overwhelming financial complexity that masked Enron's problems for years are all captured in these cases. These cases are constructed with an eye on the conflicting business, organizational and personal objectives that complicate real world ethics questions.
On top of the fact that Arbogast presents many interesting ideas, he offers us with practice in maintaining our ethical bearings in the face of such complexities and in how to map a politically practical path of effective resistance.
For those who want to go through the thrill of resisting corporate corruption, this is a worthwhile investment.
