X-Nico

13 unusual facts about ENRON


Christina Park

As a field reporter, she has covered major stories such as Hurricane Katrina and Rita, as well as the collapse of Enron.

Financial statement

In the United States, especially in the post-Enron era there has been substantial concern about the accuracy of financial statements.

José Miguel Agrelot Coliseum

During the construction phase, plans called for the coliseum to be named simply El Coliseo de Puerto Rico (The Coliseum of Puerto Rico), but when it was also suggested that a private entity could sponsor the facility and thereby lend its name to it, most local politicians objected to the idea, since the financial scandal involving Enron reminded them that the bankrupt company had sponsored a sports facility, which was the Enron Field, later renamed Minute Maid Park in Houston.

Kentucky Central Insurance Company

Fletcher attempted to use the issue to show that a conflict of interest prevented Beshear from saving the company and drew a comparison between Beshear and Enron executives at the time of that company's collapse.

Mayoral Control of Schools

Comparing appointed school boards to the board malfeasance in private sector companies such as Enron points to the danger of having a single-minded board take control of any entity.

Melanie Riley

Bell Yard was then hired by the so-called NatWest Three to campaign against their extradited to the US on charges relating to the collapse of the American energy giant Enron.

New Providence, New Jersey

Andrew Fastow (born 1961), convicted CFO of Enron, went to NPHS and grew up in New Providence on the same street as the Allen W. Roberts Elementary School.

Panna-Mukta oilfield

Following a privatization policy a Reliance - Enron consortium gained a 25-year lease on the oil field in February 1994.

In 2002 British Gas (BG) bought Enron's 30% share of the Panna-Mukta and Tapti fields for $350 million.

Potential future exposure

These sorts of trades are behind most major collapses in the past 30 years - including much of the savings and loan crisis of the 1980s, Kidder Peabody, Enron, AIG, Lehman and even recent (relatively small) losses at JP Morgan.

Rolling blackout

However, in 2004, taped conversations of Enron traders became public, showing that traders were purposely manipulating the supply of electricity to raise energy prices.

Silver Peak, Nevada

In the first major act of the power crisis causing an outage, on March 25, 1999, Enron energy traders allegedly rerouted 2,900MW (megawatts) of electricity destined for California to this small Nevada community.

U.S. Family Network

He hired tobacco lobbyist and anti-union activist Karl Gallant, and induced Enron's Ken Lay to contribute $500,000 to ARMPAC.


Aiding and abetting

For example, CIBC and Merrill Lynch were separately charged with aiding and abetting Enron’s evasion of record keeping requirements and required financial controls.

Alexander Strategy Group

In 2004 the firm had US$8.8 million in revenues, with prominent clients such as Amgen, BellSouth, Eli Lilly and Company, Freddie Mac, Fannie Mae, R.J. Reynolds, Koch Industries, Microsoft, Time Warner, Enron, and the United Parcel Service.

Allan Chernoff

He broke news of the insider trading guilty plea of former ImClone CEO Sam Waksal; SEC fraud charges against WorldCom; the plan to dissolve accounting firm Arthur Andersen; Wall Street analyst Jack Grubman's conflict of interest settlement; the suicide of former Enron executive Cliff Baxter; and details of the global settlement between tobacco companies and the states.

Baptist Foundation of Arizona

Arthur Andersen, the Big Five accounting firm that audited Enron, paid former BFA investors $217 million for Andersen's failure to identify fraudulent activities at the BFA.

Bob McNair

He founded the cogeneration company Cogen Technologies, which was sold in 1999 to Enron and CalPERS.

Committee of Sponsoring Organizations of the Treadway Commission

High-profile business scandals and failures (e.g. Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom) led to calls for enhanced corporate governance and risk management.

Houlihan Lokey

During this period the firm advised on almost 1000 restructuring transactions (including 12 of the 15 largest bankruptcy cases), special situations or Distressed M&A, with aggregate debt claims in excess of $1.5 trillion, including cases such as Lehman Brothers, WorldCom, Enron, General Motors and CIT Group.

Jean-Luc Dehaene

He also joined the board of directors of Lernout & Hauspie where he was part of what is considered one of the largest corporate scandals in history prior to Enron.

Lou Pai

Lou Pai has not been charged with any criminal wrongdoing in the Enron scandal and has exercised his 5th Amendment right in regard to the subsequent Enron class action lawsuit.

Lynn Brewer

A USA today article by Greg Farrell based on interviews with two dozen former colleagues, found that her claim to be a former Enron Executive and as the first whistleblower at Enron can't be substantiated.

MCI Inc.

Movie Fun with Dick and Jane (2005), featuring Jim Carrey: The closing credits begin with a Special Thanks To list, naming executives at Enron, WorldCom, Tyco, Adelphia, ImClone Systems, Arthur Andersen, Cendant and HealthSouth.

Paul Rand

IBM, ABC, Cummins Engine, UPS, and the now-infamous Enron, among many others, owe Rand their graphical heritage.

Paul Rand (August 15, 1914 – November 26, 1996) was an American art director and graphic designer, best known for his corporate logo designs, including the logos for IBM, UPS, Enron, Morningstar, Inc., Westinghouse, ABC, and Steve Jobs's NeXT.

Review of the role and effectiveness of non-executive directors

There was widespread unrest after the scandals in the US, involving Enron, WorldCom and Tyco.

Rhizome Navigation

In their investigation into the Enron scandal, the Federal Energy Regulatory Commission made a large portion of Enron's email database available to the public.

Rohan Sajdeh

Before being recruited to BCG, Sajdeh worked in positions at Enron India, Coca-Cola Amatil, and the Lend Lease Corporation.

Sean M. Berkowitz

Berkowitz married Bethany McLean, a Vanity Fair magazine editor and one of the authors of the book Enron: The Smartest Guys in the Room, in May 2008.

Sean O. Cota

He provided these groups significant counsel in the development of the "Close the Enron Loophole Act" Commodity Futures Modernization.

Stavros Thomadakis

The Public Interest Oversight Board (PIOB) was established after a series of corporate scandals, including the collapse of Enron and WorldCom in the United States and of Parmalat in Europe, led to demand for an independent body to oversee auditors and to ensure that audit standards are in the public interest.

Stephen Fewell

He has also appeared in classical theatre, in various Doctor Who audio productions, an episode of the 2005 Channel 4 drama The Courtroom, Headlong Theatre's production of Paradise Lost at the Hackney Empire and in the musical play ENRON at the Royal Court and in the West End.

Stephen Kunken

For his turn as CFO Andrew Fastow in Lucy Prebble's Enron, he received a Tony Award nomination for Featured Actor in a Play.

The Crooked E: The Unshredded Truth About Enron

Real-life executives are portrayed in the film, including Enron Chairman Ken Lay played by Mike Farrell, CEO Jeff Skilling played by Jon Ted Wynne, and whistleblower Sherron Watkins played by Jan Skene, while other characters are renamed (presumably to protect the innocent) such as senior executive Mr. Blue played by Brian Dennehy.

Tina Brozman

At Bingham McCutchen, Ms. Brozman also represented Ultimate Electrics, FiberMark and Footstar in their bankruptcy cases and played a role in the Adelphia Communications and Enron Chapter 11 cases.

William Lerach

Lerach was involved in many securities class action and corporate derivative suits in recent years, including Enron, Dynegy, Qwest, WorldCom, Citibank, Drexel Burnham, Tyco, Merrill Lynch, Bank of America, Disney, Goldman Sachs, Credit Suisse First Boston, Global Crossing, AT&T, Hewlett-Packard, Apple Computer, ExxonMobil, R.J. Reynolds, Arthur Andersen, and AOL Time Warner.