Why has this change come about? To answer this question, consider who was harmed by the collapse of Enron. Stockholders lost over a billion dollars in stock value. Thousands of employees lost their jobs, their retirement funds, and their health-care benefits. Consumers in California suffered from energy short¬ages and blackouts that were caused by Enron's manipulation of the market. Hundreds of businesses that worked with Enron as suppliers suffered economic loss with the loss of a large client. Enron's accounting firm, Arthur Andersen, went out of business as a direct result. The wider Houston community was also hurt by the loss of a major employer and community benefactor. Fami¬lies of employees, investors, and suppliers were also hurt. Many of the indi¬viduals directly involved will themselves suffer criminal and civil punishment, including jail sentences for some. Indeed, it is hard to imagine anyone who was even loosely affiliated with Enron who did not suffer harm as a result of the ethical failings at Enron. Multiply this harm by the dozens of other companies implicated in similar scandals and one gets an idea of why ethics is no longer dismissed as irrelevant. The consequences of unethical behavior and unethical business institutions are too serious to be ignored.