Enron

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Enron was an energy company based out of Houston, Texas, though it was founded in Omaha, Nebraska. It was one of the largest energy providers in the United States, and employed over 21,000 people. It was named Template:Fortune Magazine's "America's Most Innovative Company" for six consecutive years. Then everything went downhill in 2001.

Corruption and Demise

The Enron scandal occured when Blue Chip stock Enron, was revealed to have much more debt than thought. It would appear that top officers misled shareholders, and that some transactions did not appear on the com[any's financial records. The stock dropped in this period from $90 to mere pennies. It is considered to be one of the largest bankruptcies in history.

Aftermath

The "Enron 3", Ken Lay, Jeffery Skilling, and Andrew Fastow, the top officers of Enron were all convicted for their role in the collapse of Enron. Enron's accounting firm Arthur Andersen was convicted of obstruction of justice for its dealings in the event, and went from being one of the top five accounting firms in the world, to a mere shadow of its original stature. This is because the numerous civil suits against it, lack of credibility, and loss of clients in the Enron collapse. The Houston Astros baseball stadium, Enron Stadium, was changed to Minute Maid Field after the incident. Many documentaries,movies, and books about th Enron Scandal have been created, one of the most notable is the movie, Fun with Dick and Jane, with a storyline loosely based around the scandal, even mentioning Enron in the credits.