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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. 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 early 2007, Enron changed its name to Enron Creditors Recovery Corporation, reflecting its status as a predominantly asset-less shell corporation. Its current goal is to liquidate all remaining assets of the company. For most of 2007, Enron continued to operate under the name Enron Corp. by filing a Doing Business As, or "dba" certificate in Harris County, Texas. From Wikipedia under the
GNU Free Documentation License With what happened with Enron, was deregulation of the energy industry such a good idea? Q. The "market" drove prices up and people had electric bills of over 1000 dollars, and its clear these were inflated energy prices. Perhaps government should be involved, to protect the consumer. Asked by unknown - Tue Sep 11 10:05:38 2007 - - 8 Answers - 0 Comments A. If you're talking about the issues in California, the problems were caused because the supposed "deregulation" was nothing of the kind. The law as written was not deregulation but just a very poorly re-regulation that allowed the unscrupulous tactics to which you refer. If the law had been actual deregulation, much as the legislators in Pennsylvania did with good results, then the whole fiasco never would have happened. Did you know that it was a Democrat who actually sponsored and championed that bill with the unanimous consent of both houses of the California legislature? Answered by thegubmint - Tue Sep 11 10:20:11 2007 How did the Financial Accounting Standards Board fail to prevent WorldCom and Enron accounting scandals? Q. How did the Financial Accounting Standards Board fail to prevent WorldCom and Enron accounting scandals? Asked by Erin D - Sun Dec 16 21:49:56 2007 - - 3 Answers - 0 Comments A. It is not FASB's job to prevent the WorldCom and Enron accounting scandals. There are many good businesses out there with intelligent and honest accountants. Accounting scandals are caused by the shady employees and executives. Even if FASB gets even stricter, they cannot stop accounting scandals from happening if the people are dishonest. Answered by mukwonago53149 - Sun Dec 16 21:56:55 2007 The Democrats were gleefull during the Enron, Worldcom and other scandals, will they be that ?
Q. enthusiastic when Freddie Mac and Fanny Mae are investigated? Especially since most fingers point to their side of the aisle? And why did they refuse to listen when they wanted to tighten down the purse strings? Will they be calling for Raines and company to do a perp walk like they did to Ken Lay at Enron? Asked by Green Eyed Gila ver2.0 - Wed Oct 1 12:55:13 2008 - - 7 Answers - 0 Comments A. It will be fun to see Maxine Waters sit in that hot seat after all of the indignant comments she made in the defense of not regulating Fannie and Freddie. And who was it that said buying a house is a "risk-less investment"? Edit: ^^ Franklin Raines, former CEO of Fannie Mae and advisor to Obama. Answered by Bubba the Hutt - Wed Oct 1 13:01:07 2008 From Yahoo Answer Search: "Enron" See also:
 news.google.com North County Times But as Enron and the mortgage companies have amply demonstrated, there is a reason for government regulation, and nowhere is it more critical than the ... news.google.com The Daily Deal (subscription) The multibillion-dollar Enron Corp. scandal has now hit the stage in the UK Lucy Prebble's play about the rise and fall of the Texas energy company ... news.google.com Delta County Independent Remember what ENRON was able to do with a free market system? I drive a dependable (though aged) automobile. I drive on well-maintained and patrolled ... From Google News Search: "Enron"  themovieblog.com 100px x 73px | 4.20kB [source page] Enron The Smartest Guys in the Room is in my opinion easily the best documentary of the year I still remember my friend Wormwood first telling me about it and how good it was he From Yahoo Image Search: "Enron"  webnhance.com Erik ue, 25 Aug 2009 11:15:04 GM em>Each week we're bringing you some of our favorite posts from our friends over at TreeHugger. Enjoy! Ex-. Enron. -er Goes On The Road Ex-. Enron. speech writer.  blog.kir.com Tom hu, 02 Jul 2009 06:01:25 GM Being generally an optimistic sort, I keep thinking that the financial crisis of the past year or so will eventually prompt the Houston Chronicle to reconsider its generally biased coverage of the demise of . Enron. over the past seven ...  instituteforenergyresearch.org admin ue, 16 Jun 2009 13:30:38 GM I have previously described Exxon Mobil as the anti-. Enron. . In an opinion-page editorial in yesterday's Houston Chronicle, I contrasted the two companies in terms of both energy strategy and public policy. ... From Google Blog Search: "Enron" |
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Enron Corporation
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