Search results
Results From The WOW.Com Content Network
An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.
The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron is a book by Bethany McLean and Peter Elkind, first published in 2003 by Portfolio Trade. In 2005, it was adapted into a documentary film, Enron: The Smartest Guys in the Room. McLean and Elkind worked on the book when they both were Fortune senior writers.
As the scandal progressed, Enron share prices decreased from US$90 during the summer of 2000, to just pennies. [51] Enron's demise occurred after the revelation that much of its profit and revenue were the result of deals with special-purpose entities (limited partnerships which it controlled). This maneuver allowed many of Enron's debts and ...
Enron also mounts a PR campaign to portray itself as a profitable, prosperous, and innovative company, even though its worldwide operations are performing poorly. Elsewhere, Enron begins ambitious initiatives, such as attempts to use broadband technology to deliver movies on demand and to "trade weather" like a commodity. Both initiatives fail ...
An instrumental piece of the Enron scandal, Skilling was part of the overvaluing of Enron’s holdings, even going as far as changing losses on contracts to look like gains. Most notably, Skilling ...
An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001.
Conspiracy of Fools tells the story of the 2001 collapse of Enron.Enron's Chief Financial Officer (CFO) Andrew Fastow is depicted as voraciously greedy, using front corporations and partnerships, paying himself "management" and "consultant" fees as if he were an outsider, all while cooking Enron's books to show fictitious profits.
The Enron scandal was later determined to be “one of the largest corporate frauds in history,” according to whistleblower Sherron Watkins, who recounted warning Enron’s former CEO Jeffrey ...