Cover image for Enron : the rise and fall
Title:
Enron : the rise and fall
Author:
Fox, Loren.
Personal Author:
Publication Information:
Hoboken, N.J. : Wiley, [2003]

©2003
Physical Description:
xiii, 370 pages : illustrations ; 24 cm
General Note:
Includes index.
Language:
English
Corporate Subject:
ISBN:
9780471237600
Format :
Book

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HD9502.U54 E5739 2003 Adult Non-Fiction Open Shelf
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Summary

Summary

"I′d say you were a carnival barker, except that wouldn′t be fair tocarnival barkers. A carnie will at least tell you up front that he′s running a shell game. You, Mr. Lay, were running what purported to be the seventh largest corporation in America."-Senator Peter Fitzgerald (R-IL) to Enron CEO Kenneth Lay, Senate Commerce Science & Transportation′s Subcommittee, Hearing on Enron, 2/12/02
The speed of Enron′s rise and fall is truly astonishing and perhaps the single most important story of corporate failure in the twenty-first century. In Enron investigative journalist Loren Fox promises readers nothing short of the most compelling and insightful investigation into Enron′s meteoric ascent-regarded by Wall Street and the media as the epitome of innovation-and its spectacular fall from grace. In a lively and authoritative manner, Fox discusses how the biggest corporate bankruptcy in American business history happened, why for so long no one (except for an enlightened few) saw it coming, and what its impact will be on financial markets, the U.S. economy, U.S. energy policy, and the public for years to come. With access to many company insiders, Fox′s intriguing account of this corporate debacle also provides an overview of the corporate culture and business model that led to Enron′s high-flying success and disastrous failure. The story of Enron is one that will reverberate in global financial and energy markets as well as in criminal and civil courts for years to come. Rife with all the elements of a classic thriller-scandal, dishonest accounting, personal greed, questionable campaign contributions, suicide-Enron captures the essence of a company that went too far too fast.


Author Notes

Loren Fox is a former senior editor at Business 2.0, the award-winning business magazine, and a leading authority on business strategy


Reviews 1

Choice Review

This volume reports the corporate history of Enron, from its founding (July 1985) through its financial euphoria (August 2000, share price high of $90), to bankruptcy (December 2001) and beyond (the Arthur Andersen trial; an executive's guilty plea in August 2002). Fox, a business writer and editor, wrote this "independent examination" without Enron's assistance. He covers many of Enron's financial activities (the special purpose entities used to inflate earnings and conceal debt, e.g., LJM1 and 2, Raptors, Chewco, JEDI) and business activities (transmission and/or trading in gas, electricity, water, fiber networks, bandwidth). Explanations are very clear (the reader need not be a CPA), yet quite detailed. This book is more detailed than Peter Fusaro and Ross Miller's, What Went Wrong at Enron (CH, Feb'03), less sensational than Robert Bryce's Pipe Dreams: Greed, Ego, and the Death of Enron (CH, Feb'03), and more thoughtful than either. This is the best of the three for library acquisition, and the one that this reviewer will be using for his industrial organization class. ^BSumming Up: Highly recommended. General readers; students, lower-division undergraduate and up; and faculty and professionals. R. A. Miller Wesleyan University


Table of Contents

Prefacep. v
Time Linep. vii
1 Pipeline to Profitp. 1
2 Where the Money Isp. 22
3 Major Ambitionp. 43
4 Electrifying Opportunityp. 59
5 Culture of Creativity?p. 77
6 The Energy Buffetp. 98
7 Taking the Plungep. 122
8 Enron Gets Wiredp. 143
9 Power and Gloryp. 170
10 California Dreamin'p. 196
11 Power Overloadp. 221
12 Downward Spiralp. 247
13 Racing the Clockp. 267
14 Endgamep. 286
Epiloguep. 307
Author's Notep. 314
Notesp. 315
Indexp. 357