Enron

1. 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.

Notes

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.

Example Sentences

Or a reference to Enron, or Elian Gonzalez, or the Baha Men.

From The Daily Beast

While Swisscom faces challenges, nobody would put it in the company of Enron.

From The Daily Beast

And in 2002, former Enron vice chairman Clifford Baxter shot himself in his BMW.

From The Daily Beast

And who can forget that priceless moment from the Enron saga, as documented in the book The Smartest Guys in the Room.

From The Daily Beast

Yet in their day, Ameriquest and Enron looked like innovators too, and were hailed as such.

From The Daily Beast