Wednesday, 30 Oct 2024

Enron Fast Facts


Enron Fast Facts
1.9 k views

Here's a look at Enron, an energy trading company that collapsed after a massive accounting fraud scheme was revealed. Its 2001 bankruptcy filing was the largest in American history at the time. Estimated losses totaled $74 billion.

Enron was ranked as America's fifth largest company by Fortune magazine in 2002, despite its 2001 bankruptcy filing.

An independent review published in 2002 detailed how executives pocketed millions of dollars from complex, off-the-books partnerships while reporting inflated profits to shareholders.

Executives including Kenneth Lay and Jeffrey Skilling were prosecuted for fraud-related crimes.

Key figures sold their stock shortly before the company announced a sharp downturn in earnings.

Lower-level employees were encouraged to invest in company stock for their retirement savings just before the company collapsed. The workers later filed a class action lawsuit and won an $85 million settlement.

1985 - Houston Natural Gas merges with Omaha-based InterNorth to form Enron.

you may also like

Delta Air Lines Flight from Las Vegas to New York Makes Emergency Landing Today Due to Cockpit Fumes
  • by travelandtourworld
  • descember 09, 2016
Delta Air Lines Flight from Las Vegas to New York Makes Emergency Landing Today Due to Cockpit Fumes

A Delta Air Lines flight bound for New York City from Las Vegas made an emergency landing shortly after takeoff on October 29, 2024, due to fumes in the cockpit. Flight DL2133, originating from Harry Reid International Airport (LAS) in Las Vegas and destined for LaGuardia Airport (LGA) in New York, reported an issue within minutes of departure, leading the crew to declare an emergency and return to the Las Vegas airport for a safe landing.

read more