![]() ![]() Unfortunately, Enron was not doing well financially by 1986. In fact, Ken Lay took over as CEO and renamed the company “Enron” only two years before filing for bankruptcy in 2001. Back in 1987, two years after it was founded, Enron already had debt problems similar to the ones they faced later on. Big Idea #1: Enron, a company whose decades of deceit ended in bankruptcy, nearly met the same fate just two years after incorporating.ĭoes it feel like history is repeating itself? It sure seemed that way when Enron, a huge energy company, filed for bankruptcy in 2001. ![]() ![]() You’ll also explore what went on behind closed doors at Enron, as well as how financial structures hid debts from creditors. In this article, you’ll learn about the people involved in the Enron scandal and how they were connected to it. How did a respected company make it to the top of its industry only to crumble into economic tragedy? Its skyrocketing profits were followed by the largest bankruptcy case in US history. It is probably the most scandalous business story of our times. ![]() 1-Page Summary of The Smartest Guys in the Room OverviewĮnron Corporation, once the world’s largest energy company, has become synonymous with fraud and corruption. ![]()
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