Enron s Impact On The Natural Gas Industry - 2699 Words

Introduction: Enron was founded in 1985 as a result of a merger between Houston Natural Gas and InnerNorth of Omaha. During this time period there was a series of deregulations in the utilities industry which was highly regulated at the time. Enron original business was selling natural gas. Jeff Skilling developed the idea of a â€Å"gas bank† which was the middlemen for consumers and suppliers. Enron decided that if they were to increase their growth they needed to enter other markets due to the increase competition in the natural gas industry. Enron enter in the electric, water, broadband, pulp and paper industries. This new ventures were supposed to create millions of dollars in revenue for Enron; however most of this new ventures were immense failures which cost Enron significant losses. Enron never disclosed these losses to investors or the SEC until October 2001. 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Euthanasi A More Humane Option For Suffering And Dying...

Euthanasia would be a more humane option for suffering and dying patients. Afterall, death row inmates have the option of lethal injection because it is more humane, so why are competent patients not given the same option? Why do we allow people who committed serious crimes to have a humane death, but force innocent patients with severe illnesses, to suffer through the pain? Giving a suffering patient the option to end their misery in a relatively quick and painless way would not only ease their dying process, but it would also provide their family with certainty and give them time to say their goodbyes. Not to mention processes such as â€Å"pulling the plug† and DNR (do not resuscitate) have been in practice for years, and they are relatively the same as physician assisted suicide, but more painful and time consuming. Often, controversy on the legalization of euthanasia revolves around the right to life; anti-euthanasia proponents argue that euthanasia infringes on a person’s fundamental right to live. What they fail to see is that our â€Å"life† as human beings implies death. Without death, we do not have â€Å" human life† by its very definition. Like two sides of a coin, human life cannot occur without death. Therefore when people argue a person’s fundamental right to live, they unknowingly are agreeing that every person has the fundamental right to die. Patients should have the right to decide whether they want to prolong their pain or simply end their suffering because it is

Analysis of Working Class Hero by John Lennon - 1085 Words

g ------------------------------------------------- WORKING CLASS HERO: It’s something to be â€Å"Working Class Hero† is a song made for the class split back in the 1940’s and 1950’s. The song is written by John Lennon, who was one of the singers in the old and legendary band, The Beatles, with Paul McCartney, Ringo Starr and George Harrison. He recorded the song between the 26th of September and the 6th of October; the song was though first released in 1971 in the United States and in UK in 1975. The song was on his first post-Beatles album â€Å"Imagine†. John Lennon was a working class hero himself. At least that is what he says in the end of the song; â€Å"If you want to be a hero, well, just follow me.† The theme of the song is most likely†¦show more content†¦The second phrase tells that if you were a smart or clever kid, then people would hate you, and if you were a dumb fool everybody would despise you. This despises and hate comes from the fact, that kids of the working class were accepted by the other kids if they were different. If the kids were not like the others they would faster become outcasts, and then in the end maybe go down mentally (3rd phrase). And the 3rd verse had 3 more phrases: â€Å"When theyve tortured and scared you for twenty odd years. Then they expect you to pick a career, when you cant really function youre so full of fear† Here, John Lennon is saying that after you have been raised like an outcast throughout your whole childhood, all the bravery for a career, which should have been built during your childhood, simply is not there. The way the people gets â€Å"stepped on† can really be demoralizing, and in the worst case scenario it can make your life completely out of function. All of these troubles because you have a fear of being led down or the chance of becoming an outcast. And the refrain appears again. The 4th verse says: â€Å"Keep you doped with religion and sex and TV And you think youre so clever and classless and free But youre still peasants as far as I can see† In this verse John Lennon is saying that all of us are getting â€Å"doped†Show MoreRelatedAnalysis of Working Class Hero by John Lennon1079 Words   |  5 Pagesg ------------------------------------------------- WORKING CLASS HERO: It’s something to be â€Å"Working Class Hero† is a song made for the class split back in the 1940’s and 1950’s. The song is written by John Lennon, who was one of the singers in the old and legendary band, The Beatles, with Paul McCartney, Ringo Starr and George Harrison. He recorded the song between the 26th of September and the 6th of October; the song was though first released in 1971 in the United States and in UK in 1975. The

Ethical Issues From Titled Article Enron †Myassignmenthelp.Com

Question: Ethical Issues From The Titled Article Enron Ethics? Answer: Introducation The first major ethical issue in the article is the creation of Special Purpose Vehicles (SPVs) by Enron. The company entered into a partnership to raise money and boost its position in the market (Sims Brinkmann, 2003). However, the management applied deceptive methods to mask its declining financial performance. Partnerships allowed the company to sell assets and book revenues before to a partnership. This ethical issue enabled the company to generate huge revenues. Partners and potential investors thought that the company was performing well and continued to invest. Besides, the SPVs included a fraudulent technique to hid debts from the balance sheet. The SPVS is an ethical issue because a conjunction of motive and opportunity leads to an ethical hazard (Pendse, 2012). The second major ethical issue was encouraging employees to invest heavily in the company without informing them of the financial status. The business executives were aware that the company was making significant losses. A few business executives were earning millions of dollars at the expense of the ignorant workers. Most of the employees had invested their life-savings in Enron with the hope of earning good returns. There are indicators that the executives knew that the company would run bankrupt. Jeffery Skilling resigned from his position as the CEO when the accounting dealings of Enron became intricate (Sims Brinkmann, 2003). This issue is an ethical issue because the business management propagated corruption on a colossal scale without considering the employees investment. The situation can be attributed to fraud on a large scale. How to develop virtuous The primary concept is that virtuous is like a skill that can be learned and practised. Hence, humans can learn and practice skills in their daily life. Aristotles virtue ethics is not absolute. There is thus a chance for every human being to develop and enact virtuous. A person can make good judgement when it is desirable or at the right time. Once a person develops virtuous, they will be in a position to express good character in the most deserving events. Consequentialist judges whether the act is right or wrong based on the results of the action (Shaw, 2008). If the results of an action are good, then it will be considered as right. Even if the intentions of a person were wrong, the action would be judged based on the consequences. This theory differs from virtue ethics because virtue ethics judges the action rather than the outcome. On the other hand, non-consequentialist considers the reason for a certain action and not the outcome (Shaw, 2008). This theory judges people on how good their intentions were regardless of the consequence. For instance, if a wrong action leads to a good outcome then it will be considered as good. Conversely, if a right action results in a wrong consequence, then it will be considered as wrong.The main difference in these three theories is about decision making and outcome of the decision. This difference is evident in peoples character and judgments when faced with moral dilemmas. Kelloggs CRS statement The Kelloggs CRS statement is insincere. The CRS statement is structured to convince the public that the company is socially responsible. Additionally, the company aims to attract potential customers to the business. In its CRS statement, Kellogg argues that their products are nutritious and meant to enhance healthy lifestyles. However, different organisations have shown that the Kelloggs products are unhealthy. The Food Commission detected high levels of sugar in breakfast bars. Australian Consumer Magazine found high levels of saturated fats in LCM bars. False information by organisations about their CSR practices might lead to misleading actions (Rhmkorf, 2015). The placement of false information in the CSR is always meant to mislead consumers to purchase certain products. The incidence of Kellogg is similar to other ethical issues whereby companies fail to observe their CRS statements. Kellogg is striving to maximise stakeholders value through its unethical practices. The management might be propagating the view that business exists to maximise shareholder only. Application of Kantian theory Kelloggs CRS statement contradicts the Kantian theory of ethics. According to Kantian, one should never treat another human being as a mere means to an end (Sensen, 2011). Actions are only considered as moral if the autonomy of human beings is respected. Kantian further argues that an action is moral if it is applicable as a universal law. Kelloggs actions are unethical since the company fails to respect human beings autonomy. The sale of innutritious and unhealthy foods is not universally accepted. Due to these aspects, Kellogg is insincere, and its actions are unethical. Perspectives of fair trade that can be considered Fair trade is a broad topic that covers many perspectives. The central theme in fair trade, however, revolves around improving the living standards of people. One of the most important perspectives of enhancing fair trade is subsidising farmers. Farmers can be empowered to produce more even in small scale farming. Apart from producing more, subsidies will also help farmers to produce high-quality products. The products can then be exported to other countries. Another perspective is offering affordable health. Studies have shown that millions of people die annually due to infectious diseases. For instance, Australians living in rural areas experience poorer health status (Thomas et al., 2015). Affordable healthcare will help such community to access primary health care services. The trading rules are further causing a wide gap between the rich and poor. A review of trading rules can help to address this discrepancy. Trading rules should specifically focus on importation. Cheap importations have a significant adverse impact on local production (Oxfam Fair Trade Clips, 2007). Trading rules should be fair and designed to improve equality. Whether corporations have a responsibility to the international community Corporations have a responsibility to the international community. Corporations have a moral responsibility to improve the economy and condition of the community where they operate (Brennan et al., 2011). This aspect insinuates that corporations should not focus on making profits only. Thus, corporations should include their responsibility to the global community in both short-term and long-term goals. The responsibility of the corporations can also be viewed as corporate philanthropy. References Brennan, . et al., 2011. Corporate social responsibility : the corporate governance of the 21st century. 2nd ed. Wolters Kluwer Law Business. Oxfam Fair Trade Clips. 2007. [Online Video]: tombottoms. Pendse, S.G., 2012. Ethical Hazards: A Motive, Means, and Opportunity Approach to Curbing Corporate Unethical Behavior. Journal of Business Ethics, 107(3), pp.265-79. Rhmkorf, A., 2015. orporate social responsibility, private law and global supply chains. Edward Elgar Publishing. Sensen, O., 2011. Kant on human dignity. Walter de Gruyter. Shaw, W., 2008. Business Ethics. 6th ed. Thomsom Wadsworth. Sims, R.R. Brinkmann, J., 2003. Enron Ethics (Or: Culture Matters More than Codes). Journal of Business Ethics , 45, pp.243-56. Thomas, S.L., Wakerman, J. Humphreys, J.S., 2015. Ensuring equity of access to primary health care in rural and remote Australia - what core services should be locally available? International journal for equity in health, 14(1), p.111.

Debate of standard living condition in Britain during the industrial revolution

Introduction The debate on the impacts of early industrialization and capitalism on the British working class’s standards of living has been going on for an unusually long time.Advertising We will write a custom term paper sample on Debate of standard living condition in Britain during the industrial revolution specifically for you for only $16.05 $11/page Learn More Historians do not seem to agree whether in exchange for long working hours, in the factories, British workers living standards improved or worsened with some saying that gains were realized in real wages, improved life expectancy and better living conditions in the cities. What the historians find difficult to connect is the economic development realized during this period to improved living conditions for the common people. Economic and social historians have brought to focus issues that have elicited vigorous debate and calls for a complete understanding of economic and philosophica l concepts and greater originality in search of new information on the issues. Historians have used different approaches to determine the impacts of the industrial revolution on the living standards of common people. They have used qualitative evidence and quantitative series including economic, demographic, and anthropometric indicators which have been studied at the local, regional and national levels. Some have given attention to the material aspects of well being while others have studied and attached more significance to the quality of life. This as expected has yielded different verdicts, which have left the debate still raging, with no sign of consensus (Allen 21). Body Charles Feinstein is one such historian who has recently attempted to solve the riddle of impacts of the industrial revolution on the lives of British commoners and compiled his findings in the Journal of Economic History. He compiled the estimates of wages and the costs of living during and after the industri al revolution in order to get a fresh picture of the trends in real earnings during this time. In his study, Heinstein used a new index of average annual earnings created for a larger project on economic growth during this period covering all workers, both male and female, on the period between 1770 to 1880. Most of these estimates are extracted from well known compiled information series by writers most especially A. L. Bowley and G. H. Wood who had relatively secure foundations. At the first phase, (Feinstein 628) constructed a separate estimates of the male and female in Great Britain at decennial periods from 1771 to 1881. The totals were then classified by sectors or occupations and then classified into three categories of income earners: employers, self employed, salaried people and manual wage earners.Advertising Looking for term paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More This were used to calculate the element f or weighing component wage series. Next, the author needed the absolute value of mean annual earnings in each sector per year which was taken from 1881 estimates from an earlier study. Annual estimates of the movement of earnings for more than 20 different industries representing 80% of all wage earners in the country in 1851 were compiled. Existing indices from Bowley and Wood studies were extended to 1770 and additional ones compiled for other sectors. These were compiled to calculate weekly earnings with an assumption of full employment. Then the annual index of nominal full-employment earnings for all wage earners was compiled and showed the changes in full-employment nominal wages for each sector and groups of workers and the movements between them. Feinstein, (635) constructed a new cost-of-living index to measure the changes in the prices of 12 kinds of foods together with prices for beer, coal, candles, clothing, footwear and rent. This new index used different expenditure s hares, and different base years to weight it. It also has improved price indicators for food, clothing, and rent which started a decade earlier in 1770. This index is again compared and contrasted with LW index, which is different from Feinstain’s in that they both use different procedures for weighing the indices and in expenditure shares from where the weights are obtained. (Feinstein 636) index also includes potatoes and oatmeal among other items, which are not included in the LW index which slow down the pace of decline in prices. In deriving the trend in real wages for manual workers in Great Britain, Feinstein, (640) brings together indices of full employment nominal earnings and the cost of living index. From the resulting graph, moderate rate of improvement in full-employment real earnings is shown. From this graph, the period of between 1780s and the end of Napoleonic Wars saw no increase in average real earnings and the nominal earnings were at par with the cost of living. From 1815 to late 1850s there was slow improvement in both the indices, but after this period, the average worker started to experience substantial and sustained increase in real wages. Feinstein concludes that there was a less than 30% of increase in real weekly earnings all factors considered for the 75 year period of the industrial revolution in Great Britain. Lindert and Williamson, (5) in their article further discusses this debate. They use nominal full-time wage series and the use of the living index to calculate the wage trends of the average, Great britain workers. They argue that real wages experienced a period of stagnation between 1770 to 1820.Advertising We will write a custom term paper sample on Debate of standard living condition in Britain during the industrial revolution specifically for you for only $16.05 $11/page Learn More During the period between 1820 and 1850, they continue to say that real wages nearly doubled which pro duced a large estimates of increase than any previous pessimistic studies. The authors also outline other more optimistic views of the standards of living for the workers between the period of 1780 and 1850, for example, discounting the claims that unemployment rates at the 1840s led to deteriorating standards of living for the working class. They argue that unemployment rates during this period that is commonly known as the ‘hungry forties’ was probably less than 9.4% in most difficult two years of the decade. On the employment of women and children, the claim that though they lack wide-ranging data on them, available evidence show that their wages were roughly in the same range with those of unskilled labouring men which they competed against as substitutes. They also attribute some of the increase in earnings for workers may be as a result of migration from the countryside to towns and from slow growing regions to faster growing regions. Their calculations of contrib ution of migration factors to increase in earnings showed a less than 3.6% was realised between the period of 1781 and 1851. The pessimists had argued that the industrial revolution led to a decline in life expectancy in the first half of the 19th century especially in cities where most of the industries were located. The authors agree with these claims, but say this could be true in Manchester and Liverpool and other industrial centres, but these are offset or more than offset by gains in life lengthening, in other cities and countryside. The pessimists had also claimed that quality of life of workers was ruined during this period by long, tedious working hours in the factories, changes in the traditional family roles, environmental pollution such as noise, filth, crime and crowding of urban slums. The authors contend that they could not find a measure to weigh the negative effects of industrialisation against the substantial gains in real wages they propagated. They, however, say that unskilled metal and cotton workers in the industrial center Manchester, earned an average of 41.4 pounds per week while a common labourer in agricultural East Anglia, a â€Å"healthy† place, earned an estimated 25.1 pounds a week. Also, they say that despite the claim that despite the higher costs of living in industrial centers, and the low quality of life therecompared to the agricultural regions, workers still continued to migrate to the growing cities. They conclude by saying that remarkable gains in standards of living were realized by the workers between 1781 and 1851.Advertising Looking for term paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More When factors such as occupational change, regional migration, a fairly small increase in unemployment, move to higher costs of living in industrial cities and industrial disamenities are taken into consideration there were substantial gains in living standards during the period. They say that this gains were 60% for farm labourers, over 80% for manual workers and more than 140% for all workers with the majority of them coming after 1820 (Allen 48). Economist Crafts, (141) has also contributed to the debate on the living standards of Britain’s working class during the industrial revolution. He estimates that British income per person based on the 1970 U. S. dollars increased from $400 in 1760 to 430 in 1800 and then rose to $500 in 1830 then a mega increase by $300 was experienced by1860. This followed centuries of rising and falling income levels. Slow growth according to Craft was reported between 1760 to 1830 after which the income levels rose substantially up to 1860 doubl ing the increase of real income per person during the period between 1760 and 1860. If this did not result to the lowest-income group of people being better off after the growth, then the share of income going to the lowest 65% of the population would have to had to fall by half which did not happen according to (Crafts 140). He says that 29% of the country’s total income went to the lowest 65% of the population in 1760 and in 1860 this share of percentage of the total income was at 25% meaning the lowest 65% of the population was relatively better off. The increase in average real income for the country for this group during this period was approximately 70%. Considering the increase in estimates for the real income, a mildly optimistic view is justified for the living standards of the working class for the century after 1760 according to (Crafts 143). His pessimist critics though cite the slow growth in a long time as a pessimistic conclusion. They give an example of the ea rly years of industrialization in the country between 1760 to 1830, and what it meant to the working class, did it make them worse off during this period. The growth of 0.3% annual y on real income per person is likely to have resulted into deteriorating conditions for workers. Craft, however, continues to say that real wage figures are for real wage rates not earnings. During the period around 1820, historians should remember that unemployment was especially high due to factors such as demobilization, agricultural dislocation and unpredicted drops in price levels, which according to Lindert and Williamson, (13) study rendered approximately 10% of the labor force out of work. Other years such as 1780 saw unprecedented high employment levels which together with the high unemployment years are enough to reduce the calculated rates of growth in real earnings to around 0.55 % per year for the period of 1780 to 1820, when the real increase had been 0.80% annually. These figures are consi stent with consumption. In the period between 1820 and 1850, wages were shares of national income and as an allocate of consumption in national output were relatively consistent. Crafts, (139) says that this meant real wages growth was rather similar to consumption growth. It is during the 1851 period that the economy gained a â€Å"normal† level of unemployment. If the real wage growth was added to this, then an estimate of about 1.2% annually that is close to the rate of consumption a real wage increase would have been realized. The comparison of national output growth and real wages growth Crafts, (142) say supports (Lindert and Williamson 18) procedure is that results in overestimates, in real wage growth, for the years between 1820 and 1850. In conclusion, (Crafts 144) say that the argument that overall wage growth was significantly less than the national output per head propagated by the pessimists is not the case. The slow growth of consumption by workers during the ea rly industrialization era was as a result of slow growth and not as a result of prolonged interval of stagnation in real wages behind the national output. Conclusion The period between 1760 and 1860 marked a transformation of England into a workshop of the world. There was technological progress, education and rising capital stock marked this period refered to as the Industrial revolution which historians say is the most critical period in history. However, historians do not seem to agree on whether this revolution resulted into improved standards of living for the British working class. Some argue that the conditions for these workers got worse due to things such as prolonged working hours and environmental pollution among others. Others, however, say that gains realized such increased real wages and improved life expectancy among others led to improved standards of living. Charles Feinstein is a representation of the pessimist writer who compiled the estimates for this period. Fur ther, he drew a new index of average annual earnings of the period using earlier information especially from A. L. Bowley and G. H. Wood. He concludes that there was a less than 30% of increase in real weekly earnings all factors considered for the 75 year period of the industrial revolution in Great Britain. Lindert and Williamson use nominal full-time wage series and the use of the living index to calculate the wage trends of the average, Great Britain workers. They represent optimists as their conclusions are that all factors put into consideration, there was a substantial increase in gains, in standards of living after 1820. Crafts are another optimist who suggests that significant gains were made in living standards putting in mind the substantial increase in real wage rates in the lowest 65% of the income who by 1860 had a share of 25% of the total national income. Economic historians are expanding the debate to look at the effects of the industrial revolution which could have had negative or positive impacts on the living standards of the people thereby offsetting the gains made. Works Cited Allen, Robert. Pessimism Preserved: Real Wages in the British Industrial Revolution. UK: Oxford University, 2007. Print. Crafts, N. F. R. English workers’ real wages during the industrial revolution: some remaining problems. The journal of economic history, 5.2 (1985), pp.139-144. Print. Feinstein, Charles. Pessimism perpetuated real wages and the standard of living in Britain during and after the industrial revolution. The journal of economic history, 13.7 (1998), pp.625-658. Print. Lindert, Peter and Jeffrey Williamson. English worker’s living standards during the industrial revolution: A new look. The economic history review, 8.5 (1983), pp.1- 25. Print. This term paper on Debate of standard living condition in Britain during the industrial revolution was written and submitted by user Wolver-dok to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

UK Position Paper Free Trade

UK Position Paper Free Trade UK Position Paper Free Trade Committee: Global Economics Topic: Free Trade Country: United Kingdom Free trade is when one country lowers, or removes, their trade tariffs and gives subsidies on exports and imports to other countries. Free trade is supposed to be a tool used by countries to obtain resources that are scarce in their country while making the most of the local resources that are available. Instead, large corporations in developed countries who mass produce goods use the free trade agreements of lower tariffs and subsidies to sell their goods in third world countries, which hurts local businesses. This results in an unequal distribution of wealth because the developed nations will exercise a protectionist policy when it come to agricultural trade, which happens to be third countries’ biggest export. These protectionist policies make it hard for third world nations to compete equally in the global market, and thus occurs the conflict of viewpoints on free trade. The first cause of this problem is the fact that third world countries strongly believe in the protectionist view on trade. This is because smaller third world nations know that the only way their domestic economy can grow is by limiting, or eliminating, foreign competition. By radically increasing the tariffs for imports in their country, this will decrease the international competition faced by local manufacturers, and will allow the the local economies to grow, thus increasing the country’s GDP and strengthening their economy. These countries are aware that with no tariffs large multinational corporations can come in and monopolize the market of their choosing, and that small local businesses are the only way their economy can grow. Developed nations also have caused problems with free trade by overemphasizing its importance. They often times blame the fact that third nations have not lowered their tariffs, and this is why their economy is so stagnant. But when third world countries open up their trading boundaries, large countries like the USA take advantage of these low tariffs. A 2002 study showed that the US exported wheat 43% below its production cost, creating tough competition for local farmers. This low export price faced from the US is what allows them to sell their goods at such a low price in the international markets, which consequently hinders the growth of local businesses and the overall economic growth of the country. The UN is in cooperation with the World Trade Organization to help moderate free trade negotiations between countries. In July 2009, the UN wanted to â€Å"resist all protectionist tendencies and rectify any protectionist measures already taken,† which shows that the UN leans towards a more free trading style between countries. They have mediated several hundred negotiations in the past such as NAFTA and other large international trade agreements. The UK strongly supports the concept of free trade as much of our economic strength depends on our trading relations with other countries. As a member of the European Union and the Transatlantic Trade and Investment Partnership the UK notes that strong economic ties with countries all over the world is the best way for an economy to grow. Countries can benefit from trade and investment with other countries while specializing in a specific good to export to other nations, thus increasing domestic production rates and strengthening the economy. A country like Iraq is

The Watergate Scandal Essay Example | Topics and Well Written Essays - 1000 words

The Watergate Scandal - Essay Example Soon things got worse forcing President Nixon to step down from office as President of the United States. Apart from resignation of President Nixon on August 1972, the scandal also led to the indictment, trial and imprisonment of 43 accomplices most of whom were administration official of President Nixon2. This paper will explore the Watergate Scandal from the buildup, the scandal, the end, and the aftermath. The Watergate scandal is said to have originated from the hostile political environment of the 1960s general elections3. This is attributed to the fact that by 1972 when President Richard Nixon was seeking for his reelection as president of the United States as republican candidate, the country was already deeply divided internally as a result of the Vietnam War of 1955to 1975. Because of the harsh political environment, Nixon and his henchmen found it prudent to employ forceful campaign tactics in order to be able to sabotage his opponent, particularly his challenger Gerald For d, the then democratic candidate4. The aggressive campaign strategies used by Nixon and his advisers included what later emerged as an illegal spying. This is after the evidence gathered at the scene revealed that some member of Nixon’s re-election committee (CREEP) broke into Watergate building, the headquarters of the Democratic National Committee on May 1972 stealing copies of confidential documents and then bugged the phones in the office. Mark Feldstein reveals that despite having stolen the DNC’s top-secret document, the wiretaps stolen could not work properly forcing the burglars to return to Watergate headquarters on 17 June of the same year.5 However, this time round the burglars came with new microphone, but before they could break in, one of the security guard called Frank Willis saw a piece of tape wrapped on the locker of the door leading into the stairwell. Willis quickly removed the tape oblivious of water was happening. However, since he suspected that something was a mess, he rushed to the telephone and called the Metropolitan Police who came to Watergate few minutes later and began conducting a thorough search in the building6. It is then that the police realized that all the doors leading to stairwell of the sixth floor had been taped in a similar manner7. Investigation also revealed that the Democratic National Committee had rented the entire sixth floor. The police officers then began moving from one office to the next in the entire sixth floor with arsenals drawn8. No soon had they entered the offices Stanley Grieg, of Deputy Party Chairman than a man came out from his hiding place and surrendered to the officers pleading not to be shot. Subsequent searches led to the arrest of five men in the offices all wearing surgical gloves and business suits. A team of investigators learnt that the main purpose for the break-in by the burglars was to bug Lawrence O’Brien, the DNC chairman’s offices and get files related t o their campaign strategy that might help republicans in the forthcoming presidential elections9. Investigators also found out that the burglars had all booked suits fictitiously at the Watergate Hotel. The police officers also conducted a search in their rooms and in DNC offices in which $5,000 numbered as $100 bills was found plus