Enron


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Enron

An energy company that perpetrated one of the largest accounting frauds in history. Established in its latest form in 1985 in Omaha, it moved its headquarters to Houston and provided oil, natural gas, electric, water, and bandwidth products. Its share price eventually climbed to $85 because it used what it termed "innovative" techniques, including weather futures, to build its profit. In 2001, however, it was revealed that many of its assets were either overpriced or completely fictional; losses were hidden in offshore subsidies; and most profits were fraudulent. Its share price collapsed to $0.30 and Enron filed for bankruptcy in December 2001. See also: Arthur Andersen, WorldCom, Tyco International.
References in periodicals archive ?
Enron's motto was ``Ask Why'' and Gibney, working from the book ``The Smartest Guys in the Room'' by Fortune magazine writers Bethany McLean and Peter Elkind, clearly is curious why more people inside and outside Enron didn't do just that.
However, that does not mean I knew everything that happened at Enron, and I firmly reject any notion that I engaged in any wrongful or criminal activity.
THE MOST EXCRUCIATING MOMENTS in Power Failure: The Inside Story of the Collapse of Enron, involve a humiliating salsa-making class and a heart-pounding cross-country ski trek one bitter cold Aspen night.
Sitting in his 47th-floor office in downtown Manhattan, he acknowledges that S&P and others were "caught in the shrapnel" of the Enron explosion.
The FEC looked into Reed's relationship with Enron as part of an investigation of President George W.
Under their leadership, Enron adopted an aggressive growth strategy.
At first glance it seems preposterous to think the Enron scam could have anything to do with sexual orientation.
What we do know is that senior Enron executive Sherron Watkins wrote a letter to CEO Kenneth Lay in August 2001 warning of accounting irregularities that could pose a threat to the Dallas-based company.
Los criticos acusan a Enron de danar el medio ambiente y atropellar los derechos de los indigenas cuando construyo tm gasoducto desde la ciudad boliviana de Santa Cruz hasta la termoelectrica de Cuiaba, en el estado brasileno de Matto Grosso.
Of course, the Enron story was not simply about people telling lies and getting due comeuppance.
The Enron debacle doesn't mean capitalism is broken,' say Julian E Barnes, Megan Barnett and Christopher H Schmitt in US News and World Report.
Formal investigations of Enron are now under way, headed by the company's board, the SEC, the Justice Department and Congress.