What happened at Enron?Everyone knows at least a little about the Enron story and the devastation it created in the lives of is employees. It's a story that belongs in any discussion of ethical accounting processes and what happens when accounting standards and ethics are discarded for personal greed.Enron began in 1985 selling natural gas to gas companies and businesses. In 1996, energy markets were changed so that the price of energy could now be decided by competition among energy companies instead of being fixed by government regulations. With this change, Enron began to function more as a middleman than a traditional energy supplier, trading in energy contracts instead of buying and selling natural gas. Enron's rapid growth created excitement among investors and drove the stock price up. As Enron grew, it expanded into other industries such as Internet services, and its financial contracts became more complicated. In order to keep growing at this rate, Enron began to borrow money to invest in new projects. However, because this debt would make their earnings look less impressive, Enron began to create partnerships that would allow it to keep debt off of its books. One partnership created by Enron, Chewco Investments (named after the Star Wars character Chewbacca) allowed Enron to keep $600 million in debt off of the books it showed to the government and to people who own Enron stock. When this debt did not show up in Enron's reports, it made Enron seem much more successful than it actually was. In December 2000, Enron claimed to have tripled its profits in two years. In August 2001, Enron vice president Sherron Watkins sent an anonymous letter to the CEO of Enron, Kenneth Lay, describing accounting methods that she felt could lead Enron to "implode in a wave of accounting scandals." Also in August, CEO Kenneth Lay sent e-mails to his employees saying that he expected Enron stock prices to go up. Meanwhile, he sold off his own stock in Enron. On October 22nd, the Securities and Exchange Commission (SEC) announced that Enron was under investigation. On November 8th, Enron said that it has overstated earnings for the past four years by $586 million and that it owed over $6 billion in debt by next year. With these announcements, Enron's stock price took a dive. This drop triggered certain agreements with investors that made it necessary for Enron to repay their money immediately. When Enron could not come up with the cash to repay its creditors, it declared for Chapter 11 bankruptcy.
Buying French Homes
The country known as France offers investors a great opportunity to benefit from the ever increasing property values. France is very fortunate to have a stable housing market, which will continue to stay that way for years and years to come. The low property prices are always an attraction to the area, with strong growth and prospects to keep the overseas home buyer coming back for more. For anyone interested in overseas real estate - France offers plenty of benefits.
The property in France is easy to access, with many ways to reach the shores. In most cases, you can get there easily for a very cheap price. As many know, France is famous for their transport system, which includes high speed trains that travel to most of the regions. There are also ferries that cover the area, including low cost flights as well. Once you buy a home in France, you'll quickly become accustomed to the lifestyle there.
A lot of people who decide to buy a home in France, do so because of the surroundings. Buying a home in France is more than just the house, as you'll get a chance to experience the finer things in life. France has several romantic attractions, which makes it perfect for married couples looking to spend their life together. Throw in some great drinks and relaxation, and France has all of your activities covered - along with a beautiful and spectacular house.
Unlike other regions throughout the world, France has one of the most established legal processes, one that has been proven time and time again over the years. Locals view the legal system as safe, as it helps for those who are interested in French property. As you can tell, French real estate is very different from that of the United States.
Although there are many locations overseas that you can invest in, France is actually preferred to be one of the best. France is known as a nation of renters, with plenty of real estate available for purchase. If you choose to rent out your property, buying in France will pretty much mean that you won't have any problems renting. There are always people looking for vacation rentals and such in the area, making it perfect for investors or those looking for a second income.
Unlike other real estate locations, France offers you mountain snow complete with maritime living. France is a massive region, with plenty of houses to choose from. If you've been looking for overseas real estate, France is a location you can't go wrong with. There is always something to do here, and plenty of things to see. As a second home or as a way of life - France represents an amazing and cultivating lifestyle that you simply must see to believe.