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An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.
The book is not only about the Enron scandal, but also describes the authors' effort in following the developing story as it happened. It is based on hundreds of interviews and details from personal calendars, performance reviews, e-mails, and other documents. BusinessWeek called it, "The best book about the Enron debacle to date." [2]
Conspiracy of Fools tells the story of the 2001 collapse of Enron.Enron's Chief Financial Officer (CFO) Andrew Fastow is depicted as voraciously greedy, using front corporations and partnerships, paying himself "management" and "consultant" fees as if he were an outsider, all while cooking Enron's books to show fictitious profits.
Enron filed for bankruptcy on Dec. 2, 2001, amid revelations of hidden debt, inflated profits and accounting fraud. The collapse of the energy giant cost thousands of workers their jobs, while ...
Enron also mounts a PR campaign to portray itself as a profitable, prosperous, and innovative company, even though its worldwide operations are performing poorly. Elsewhere, Enron begins ambitious initiatives, such as attempts to use broadband technology to deliver movies on demand and to "trade weather" like a commodity. Both initiatives fail ...
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The book is written as a first-hand account of the Enron story, covering his personal experiences working at the company as well as the experiences of several unnamed associates. [2] [3] [4] Released by Avalon Publishing in the United States and by Random House in Europe, it was the first major non-fiction work written about the Enron scandal.
Enron, for those who don't recall, was a Houston-based energy trading. Six years into a 24-year stretch in the Big House, ex-Enron CEO Jeffrey Skilling may be getting an early release -- let out ...