Using the Enron and Northern Rock case studies and with reference to Essay

Using the Enron and Northern Rock case studies and with reference to the accounting, legal and regulatory issues arising in both cases compare and contrast their routes to failure - Essay Example However, according to The Forbes, lack of transparency was the most important reason in comparison to the reckless financial engineering, risk taking, and lending (Denning, 2013). This paper aims to review the two renowned corporate failures including Enron and Northern Rock. The comparison and contrast of the two corporation failures are produced with respect to financial engineering, the role of regulatory bodies, and corporate governance. Enron was established in 1985 as a merger of Houston Natural Gas and InterNorth. The offerings of the company included marketing of electricity and natural gas. The company also offers to the delivery of energy along with other physical commodities to the world. The financial department of the company was offering services for the financial and risk management to a diverse set of customers across the globe (CNN, 2014). The accelerated success of the company in different services made Enron as one of most innovative companies of the world (Moncarz, 2006). Enron operated on two fronts. Firstly, it had footings in almost all aspects of the energy supply chain. This used to provide the company with complete information about the production to distribution aspects. On the other hand, the business had complete information about the order flow. This dual side business marked the real competitive advantage for Enron (Moncarz, 2006). The ability of Enron in managing the risk that initially brought success to the company, however this also became the reason of the demise of the company (Chatterjee, 2003). There were different reasons for the demise of Enron. Some of the most important reasons include; the corporate culture of innovation in operational, financial, and accounting disciplines and exploiting opportunities mainly from deregulated markets for success. It can be analysed as the company introduced special purpose entities to hide mounting debt to equity ratio from stakeholder. This was one of the major reasons for the

Allowabe size and configuration of sidewalk cafes in NYC Essay

Allowabe size and configuration of sidewalk cafes in NYC - Essay Example They have been instrumental in giving feasible solutions to idealized proposals of cultural entities and the government. Architects are instrumental in responding to the concerns of both the commercial entities and the public in giving an integrated policy (Loukaitou-Sideris & Ehrenfeucht, 2009). In addition, cultural forces have agitated for a traditional architectural setting whereby culture is integrated into daily activities. This calls for sidewalk spaces that can allow for setting of public emblems and interaction. On the other hand, commercial activities constrain the growth of culture in towns. Academics have complained of the sidewalk policy as ignoring the preferences of the public and consumers. It also ignores the concept of free markets whereby commercial activities control the space in which they operate in the same (McEachern, 2008). This criticism rides on the idea that the government and academics make assumptions of problems in the city. This ignores the feelings of the public of whom the changes are made for the same. This suggests that the public should push for proposals of improving their interests in the city. In this sense, the public pulls away the stake from the academics. Other critiques herald the policy as one-sided since it only concentrates on the public and constrains the growth of small businesses (Kleniewski & Thomas,