Enron was the 7th largest corporation in the United States when it completely went under (Enron). In the year 2000, nobody would predict that the name Enron and the word bankrupt would ever be in the same sentence. Back then, Enron had the same reputation as Google and Apple today. Their stock prices were some of the highest, investing in them was deemed the safest, and everybody recommended buying their stock. Then a few months later, they were completely gone. How did a company as big as Enron became bankrupt at its peak? Similar to their accounting practices, by doing the improbable.
Motivated by the amount of money he could make because of deregulation or having the government not meddle with energy prices, Kenneth Lay founded Enron as a gas company in 1985 (Enron). Lay was an advocate of deregulation and he used his position and contacts in the government as leverage. He was fascinated with the amount of money he could make in the energy business with this new privilege of deregulation.
In the documentary, Enron: The Smartest Guys in the Room, it was revealed that Enron’s fraudulent activities actually started to become known two years after their …show more content…
However, their means of getting there were unethical and illegal. They refused to see failure that their best solution is to make everyone believe that they were a success—to the point that they even believed that for years. And when the executives started to realize how deep of a grave they dug themselves into, they climbed out early, leaving thousands of their employees buried with nothing. Much like your typical Christopher Nolan movie, the Enron story had hints of the possible solution thrown at the face of the audience early on. However, everyone wanted to be fooled—everyone wanted to believe—that they refused to ask the one question what they were urged to ask since day one. To simply ask,
Motivated by the amount of money he could make because of deregulation or having the government not meddle with energy prices, Kenneth Lay founded Enron as a gas company in 1985 (Enron). Lay was an advocate of deregulation and he used his position and contacts in the government as leverage. He was fascinated with the amount of money he could make in the energy business with this new privilege of deregulation.
In the documentary, Enron: The Smartest Guys in the Room, it was revealed that Enron’s fraudulent activities actually started to become known two years after their …show more content…
However, their means of getting there were unethical and illegal. They refused to see failure that their best solution is to make everyone believe that they were a success—to the point that they even believed that for years. And when the executives started to realize how deep of a grave they dug themselves into, they climbed out early, leaving thousands of their employees buried with nothing. Much like your typical Christopher Nolan movie, the Enron story had hints of the possible solution thrown at the face of the audience early on. However, everyone wanted to be fooled—everyone wanted to believe—that they refused to ask the one question what they were urged to ask since day one. To simply ask,