-
- Founded 1985
- Claimed $111 billion in revenues in 2000
- Founder and former chairman: Ken Lay
- Former president and CEO: Jeffrey Skilling
- Declared bankruptcy in 2001
- In 2001 it was discovered that the reported financial condition was the result of widespread, institutionalized, accounting fraud
- Falsifying financial reports allowed Enron to drive up the price of its own stock
- Fraud revelation led to Enron's bankruptcy and the dissolution of the Arthur Anderson accounting firm
-
-
Enron was an energy company based in Houston, Texas. It was one of the world's largest providers of electricity, natural gas, pulp and paper, and communications systems. In 2001 it was revealed that the company's success was based largely on a massive, institutionalized, accounting fraud scheme that eventually led to Enron's bankruptcy and the dissolution of the Arthur Anderson accounting firm. Appeal trials for the executives indited in the case are ongoing, Houston News.
-
Scandal
In 2001, it was revealed that numerous "creative" accounting methods had allowed Enron to commit fraud by inflating revenue figures. The company filed for bankruptcy on December 2, 2001, and Enron's shares dropped from $90.00 to $.50 on the NYSE, creating a disastrous financial situation for many share-holders. -
-
-
Enron Questions
Why is Enrons Jeff Skilling rotting in jail while all the CEOs today are being spared (and in some cases lauded)? 1 AnswerI don't think Skilling did what every CEO does. He was convicted of conspiracy, insider trading, lying to the feds, and I think some other things as well. He de... read more
Why does regulation of the OTC derivatives market worry the energy market? 1 AnswerBecause there are a huge amount of OTC derivative contracts written on the energy market read more
To buddawiggi or anyone else who cares to comment, how about you millerzl? 1 AnswerYes @zgrinch ? How can I help you? It seems you and another user are in disagreement? If that is the case then lets not chastise each other for our opinions, kn... read more


