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 ?
Lay Chair in International Economics at the University of Missouri-Columbia remains funded but vacant; at press time, Lay was on trial for his role in the collapse of Enron Corporation.
The Congressional Joint Committee on Taxation staff's investigative report of Enron Corporation and other information revealed that taxpayers were engaging in various tax motivated transactions to duplicate a single economic loss and, subsequently, were deducting such a loss more than once.
the crash of Air Midwest Flight 5481, the accounting scandals of the Enron corporation, the communication crisis at the Brookhaven National Laboratory, the leaking of nuclear material at the Davis-Besse Nuclear Power Plant, the Texas A & M bonfire collapse, and airline press releases in the wake of the attack on the World Trade Center.
I have been sent a copy of a letter from Kenneth Lay (pictured) - the ex-boss of the bankrupt Enron Corporation awaiting trial on corruption charges - to George W Bush when he was governor of Texas.
regulatory and enforcement authorities related to the CIBC's involvement in certain structured finance transactions with the Enron Corporation, Houston, Texas.
Avery was an executive with Enron Corporation for eight years.
Former Christian Coalition director Ralph Reed found a lucrative career once he left TV preacher Pat Robertson's political outfit: As a consultant, Reed was paid hundreds of thousands of dollars by the Enron Corporation over a five-year period until the company collapsed, a newly released Federal Election Commission (FEC) report has indicated.
Kopper was "gay"; instead, it merely referred to his "domestic partner," William Dodson, as a recipient of funds from some phony subsidiary, a player in the flow chart of funny money that was the Enron Corporation.
THE ENRON CORPORATION WAS RIFE WITH CONSPIRACY AND CORRUPTION.
ERISA: Not surprisingly, Enron Corporation is among the 44 cases covered in the hefty.
One of the big profiteers from California deregulation was the now-bankrupt Enron Corporation.
The collapse of the Enron Corporation and the resulting loss of employee retirement savings highlighted several key vulnerabilities in the nation's private pension system.