1 Discuss the relative risks of companies with substantial physical assets compared with companies which have substantial intangible assets 2 The phrases 'train crash' and 'house of cards have been used by com- mentators to describe Enron's collapse. Do you believe these analogies are useful in this case? 3 If Enron shareholders had been fully aware of the LJM partnership agree- ments, do you believe they would have been willing to continue investing in Enron? 4 Discuss the potential problems with Kenneth Lay taking over as CEO and president in August 2001 (as well as continuing to be chairman). 5 Identify the stakeholders who suffered as a result of the Enron bankruptcy. 6 Discuss whether potential whistleblowers should be encouraged to report their concerns of poor corporate governance. Should they report their con- cerns within or outside the organization? 7 What particular features about Enron' s board of directors reduced the likeli- hood that the company' s problems would be properly addressed?