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 ?
He structured his more than three-hour speech around the idea that Enron Corporation underwent a virtual autopsy by the prosecution in preparation for the trial:
Kelley at CB in 2002 after working as the manager of real estate for Enron Corporation. During his five-year tenure there, he was responsible for strategic real estate decisions for the various business units including Enron Corp., Enron Wholesale Services, Enron Broadband Services, Enron International and the various Enron pipeline companies in North and South America.
Enron Corporation, Parmalat SpA, Larry Ellison, stock option backdating, earnings management, Guam (I testified at a trial there for six weeks).
ENRON CORPORATION RODE ON THE CREST OF WAVE DOGGED BY DOWNFALL Chronology of Significant Events: 1930-20016 Year Events 1930 Northern Natural Gas Company formed in Omaha, Nebraska, by three companies: North American Light & Power, United Light & Railways Co., and Lone Star Corporation 1985 January 1, 1985 phased deregulation of natural gas markets initiated *.
The Reform Act came about as a result of the collapse of Enron Corporation in November 2001, and was to serve as a supplement to the Sarbanes-Oxley Act of 2002.
The effectiveness of Beneish's assessment model was made public on May 5, 1998, in Stock Analysis of Enron Corporation, an unpublished report developed by a group of graduate students from Cornell University (and posted to the Internet).
THE administration of the European arm of failed investment bank Lehman Brothers International (Europe) will be "10 times as large and more complicated" than dealing with the bankruptcy of the multinational Enron Corporation, administrators said yesterday.
Given the egregious messes created by Enron Corporation, Countrywide Financial and Bear Stearns, the greedy goons of Urinetown seem more real than theatrical.
They examine changes in international accounting and auditing standards following the collapse of Enron Corporation, bankruptcy of WorldCom, and passage of the Sarbanes-Oxley Act in 2002.
"The Enron Task Force alone," McNulty said, "brought criminal charges against 27 former Enron corporation executives and obtained 20 convictions.
SOX was a legal measure created in response to the misconduct of the Enron Corporation, with the intent of protecting investors by improving the accuracy and reliability of corporate disclosures.
Lay, who as founder of the Enron Corporation rose to peaks of influence in business and politics, only to fall into disgrace amid scandal, died early yesterday morning in Aspen, Colo., while awaiting a judge's sentencing this fall that could have sent him to prison for decades.