Enron Corporation (former NYSE ticker symbol ENE) was an American energy company based in Houston, Texas. Before its bankruptcy in late 2001, Enron employed approximately 22,000 and was one of the world's leading electricity, natural gas, pulp and paper, and communications companies, with claimed revenues of nearly $101 billion in 2000. Fortune named Enron "America's Most Innovative Company" for six consecutive years. At the end of 2001 it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud, known as the "Enron scandal". Enron has since become a popular symbol of willful corporate fraud and corruption. The scandal also brought into question the accounting practices of many corporations throughout the United States and was a factor in the creation of the Sarbanes-Oxley Act of 2002.

Enron filed for bankruptcy protection in the Southern District of New York in late 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel. It emerged from bankruptcy in November 2004 after one of the biggest and most complex bankruptcy cases in U.S. history. On September 7, 2006, Enron sold Prisma Energy International Inc., its last remaining business, to Ashmore Energy International Ltd. Following the scandal, lawsuits against Enron's directors were notable because the directors settled the suits by paying very significant sums of money personally. The scandal also caused the dissolution of the Arthur Andersen accounting firm, affecting the wider business world.

In November 2004, Enron Corp. emerged from bankruptcy pursuant to a Bankruptcy Court approved plan of reorganization. The new board of directors decided to change the name of Enron to Enron Creditors Recovery Corp., and has focused on a sole mission: to reorganize and liquidate certain operations and assets of the "pre-bankruptcy" Enron for the benefit of its creditors.

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Sun Feb 7 06:33:27 2010

What is your opinion on the Enron scandal?
Q. What do you think about the Enron scandal and the after effects?
Asked by Vanessa<3 - Sun Feb 1 14:21:06 2009 - - 3 Answers - 0 Comments

A. Everyone was in on the scam including the top management, Directors, internal and external accountants.
Answered by Mr. X - Sun Feb 1 14:27:12 2009

Anybody heard of something called the Enron Loophole?
Q. Someone told me the real reason gas is so high is something called the Enron Loophole. What's that?
Asked by optionsinmobility - Mon Jun 16 18:34:47 2008 - - 1 Answers - 1 Comments

A. Yes. It's an exemption to the regulatory powers of the commodities exchange commission, lobbied for by Enron with the help of former Texas senator Phil Gramm (who also contributed to the success of lobbying that loosened up loan credit standards that led to the current mortgage crisis). This was under the Clinton administration, so as much as I'd like to blame Bush II, that won't wash. It allows the kind of unregulated speculation on energy trading that led to Enron's abuses, and is considered to be the reason why oil is now trading at close to $140 a barrel, when there is insufficient shortfall in the supply to justify such high prices. So if you want someone top blame for high gas prices, start with Phil Gramm. Oh. BTW. Phil Gramm… [cont.]
Answered by theomdude - Mon Jun 16 18:53:31 2008

In the Enron scandal how did the company act unethically?
Q. Also, what factors affected the financial well-being of the company? Did the firm ignore the basic goal of a firm? If so, how? How do you think the company could have acted differently?
Asked by Cindy - Sun Apr 5 22:13:50 2009 - - 1 Answers - 0 Comments

A. 1) Well near the end they were telling their employees the company was doing fine while the executives were selling their shares. They also drove up the electricity prices in California in the early 2000s by purposely causing rolling blackouts to make people think there was a shortage. 2) Enron used mark to market to book gains that they estimated as future revenues even though they were actually losses. 3) Well the goal of the firm should have been to provide power to people but the executives got greedy and did whatever they could to make the most money. I think the bottom 10% of energy traders working at Enron who made the least amount of money for the company were fired every year so that gave the traders the incentive to do… [cont.]
Answered by Pelicanpower - Sun Apr 5 22:35:54 2009

From Yahoo Answer Search: "Enron"
Mon Feb 8 17:30:48 2010

Meet The Staff: CEO Andrea Miller - YourTango
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Meet The Staff: CEO Andrea Miller

YourTango

Prior to launching Tango, Andrea's career was in finance and consulting, including positions with Goldman Sachs, ICF Consulting and Enron's international ...
This Fed Chief Brought to You by Enron - Firedoglake (blog)
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This Fed Chief Brought to You by Enron

Firedoglake (blog)

Kohn was traveling in Europe at the end of the week on Fed business, but strategy on the Bernanke confirmation was being led by former Enron lobbyist Linda ...

Bernanke's Job Is Done. Now the Fed Needs a Jobs Creator Daily Finance



all 2 news articles &raquo;
Is the Stock Market ONE BIG FRAUD????????? - Motley Fool (blog)
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Is the Stock Market one big fraud???

Motley Fool (blog)

Keep watching the ticker...that is exactly what was happening right before the dot.com crash, Enron , and the crash in 2008...interesting times ...

From Google News Search: "Enron"
Mon Feb 8 14:33:49 2010

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From Yahoo Image Search: "Enron"
Mon Feb 8 17:22:21 2010

Remember every valor of yours for now the need comes hardest upon you
hvom.blogspot.com
Remember every valor of yours for now the need comes hardest upon you

H.V.O.M

Wed, 30 Dec 2009 16:58:00 GM

From 4/14/1977 ( date hijacked from me:I returned to Earth after successfully diverting the comet in the outer solar system ) To 7/7/2004 ( racketeer influenced and corrupt organizations - . Enron. grand jury and . Enron. Task Force and all ...

red: Enron - The smartest guys in the room
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red: Enron - The smartest guys in the room

Mandrake

Wed, 23 Dec 2009 22:16:00 GM

Enron. - The smartest guys in the room. . Enron. | World | SPIKE.com. Etiquetas: Bush, Dick Cheney, Donald Rumsfeld, . Enron. , global economic, Politics. 0 comentarios: Enviar um comentario · Mensagem antiga Pagina inicial ...

Anderson on Enron , David Henderson | EconLog | Library of ...
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Anderson on Enron , David Henderson | EconLog | Library of ...

David Henderson

Fri, 23 Oct 2009 19:14:16 GM

One of the views I had accepted uncritically is that all of the people at . Enron. charged with crimes really were guilty. But Bill Anderson's interesting article today questions some of that. Also, he points out that Fortune reporter ...

From Google Blog Search: "Enron"
Sat Jan 2 02:19:39 2010