An American corporation based in Houston, Texas, that traded in energy and filed for Chapter 11 bankruptcy in December 2001. Enron's collapse stunned most investors and analysts because Enron, the seventh largest corporation in the United States, had long reported huge earnings. Subsequent investigations revealed that Enron had inflated its earnings by hiding its debt and losses in subsidiary partnerships. Although some of the company's top executives made huge profits as Enron fell apart, many of its employees saw their retirement savings in Enron's 401(k) plan wiped out by the collapse of Enron's share price.
Note: Enron's collapse raised many questions about the reliability of corporate financial statements and the potentially cozy relationships between accountants and the firms they audit.
Or a reference to enron, or Elian Gonzalez, or the Baha Men.
While Swisscom faces challenges, nobody would put it in the company of enron.
And in 2002, former enron vice chairman Clifford Baxter shot himself in his BMW.
And who can forget that priceless moment from the enron saga, as documented in the book The Smartest Guys in the Room.
Yet in their day, Ameriquest and enron looked like innovators too, and were hailed as such.
Skilling was indicted on 35 counts of fraud and insider trading related to the enron collapse.
This is not on the scale of enron, WorldCom, Tyco, and the other poster companies for new millennium corporate disasters.
enron cost tens of thousands of people their pensions and retirement savings.
But even after enron imploded, the deregulated market remained.
Chanos short-sells, betting that a contract will go down, applying pressure if necessary, including his famous shorting of enron.
