PDA

View Full Version : Misc ENRON: The Smartest Guys In The Room


luv
06-08-2011, 03:20 PM
I had to watch this documentary for class (taking bankruptcy law this phase), and write notes on it to turn in for credit. I ended up typing six pages of notes, and one page of facts, convictions, etc.

All I can say is wow. For some reason, I am still amazed at how easy it is to pull the wool over on the American public at large. There are so many things that happened that I never knew were tied to ENRON. The California rolling blackouts, Schwarzenegger, etc.

And the idea of mark to marketing or hypothetical future value? Performance Review Commission where the bottom 10% got canned every year? Testing to see if people were willing to do "whatever" as long as the command came from a reliable source?

Wow.

I know you all probably already knew all of this, but I just had to share. While I have lost a job due to a position being eliminated, I at least saw it coming.

Facts:

20,000 lost their jobs and medical insurance
Average severance pay was $4,500.
Top executives were paid bonuses totaling $55 million

In 2001:

Employees lost $1.2 billion in retirement funds
Retirees lost $2 billion in pension funds
ENRON's top executives cashed in $116 million in stock

Those losses are just ENRON. Arthur Anderson, ENRON's accountants and America's oldest accounting firm, went down as well. 29,000 people lost their jobs.

Garcia Bronco
06-08-2011, 03:22 PM
SOX

raybec 4
06-08-2011, 03:23 PM
SOX

Yep, They violated almost all of the GAAP through smaller companies and Arthur Anderson never said boo

Garcia Bronco
06-08-2011, 03:26 PM
Yep, They violated almost all of the GAAP through smaller companies and Arthur Anderson never said boo

The crazy thing to me is that GSE's(fanny and freddy) do not have o comply with SOX.

Chief Henry
06-08-2011, 04:02 PM
All I can say is wow. For some reason, I am still amazed at how easy it is to pull the wool over on the American public at large.



Thats how many feel about the Obama being the President.

Dayze
06-08-2011, 04:06 PM
shhh!
youre distracting me from making a decision on my American Idol vote.

RedNeckRaider
06-08-2011, 04:07 PM
Thats how Obama became the President.

My turn ;)

luv
06-08-2011, 04:27 PM
So many people reply on analysts when making decisions, and those guys were just taking Skilling at his word. Very scary.

Donger
06-08-2011, 04:28 PM
Ken Lay isn't dead, BTW.

luv
06-08-2011, 04:28 PM
Ken Lay isn't dead, BTW.

In my limited research, I read where there were conspiracies. What's yours?

Donger
06-08-2011, 04:33 PM
In my limited research, I read where there were conspiracies. What's yours?

I don't have one. I was being silly.

|Zach|
06-08-2011, 04:33 PM
Good movie.

Pasta Giant Meatball
06-09-2011, 08:18 AM
In my limited research, I read where there were conspiracies. What's yours?

teedubya just put on his tinfoil helmet and sped into this thread on his motorcycle.

Ugly Duck
06-10-2011, 12:22 AM
Also watch "Too Big to Fail"