Enron: The smartest person in the room is proud and arrogant and greedy. A number game, a human tragedy. 1 Kenny Boy Ray Kenneth founded Enron in 1985 to develop natural gas business by using the deregulation under the political-business relationship. Get up early to encourage speculation by oil traders. 2 Jeff Shi Jinlin, a man with a good idea, was allowed to use the same-day market price accounting principle and included the expected return in the current day's profit. Very subjective and very easy to manipulate. Smart gambler, keen on adventure, big man culture. Created a new economic religion based on online transactions. 3 The stabbed man Cliff Best Lubai assisted in the establishment of the initial energy transaction, took away 250 million yuan, and later became the largest landlord in Hawaii. 4 Love Me Love Me The stock has soared, everyone in Enron was affected by the stock price, and the stock price was affected by the quarterly report. However, the actual profitability of natural gas is under great pressure, especially in overseas markets. New ideas, the acquisition of Portland Power 5 Love Sale Most analysts are optimistic about Enron, and they fully accept Enron’s statement that there are many operating losses, creating a futures market for buying and selling broadband, and the stock market continues to soar. At the end of 2000, executives began to sell stocks. If the fraud persists, it will look real. New ideas, trading weather options. 6 King's New Clothes Enron is a benchmark stock on Wall Street and the most innovative company. Some analysts found problems with Enron's report figures. The reporter reported that he asked a basic question that Enron could not answer. Where did Enron's huge profits come from? Chief Financial Officer Andy Fasttao, the helmsman of financial fraud. Once those who are under stock price pressure start to cheat, they must continue to fill up the old ones with new ones. Many short companies have been established, and the liabilities and losses are hidden in the short companies. This is the benefit of trading with yourself. He is the head of LJM and the chief financial officer of Enron. Financial institutions, law firms, accounting firms, all the people who should be perverted are not perverted, because everyone has a share of the pie Advertising slogan 8 Tim Baiden, California, studying the California Energy Act, manipulating California's electricity supply, and profiting from the price difference. After that, he gambled on rising electricity. He hopes that California will open up controls and not set a ceiling on electricity prices. The people of California were trapped in the power crisis and could not afford the electricity bills. Popular grievances raged, and the governor of California was also affected and stepped down. 9. The ship began to sink, Enron's stock price began to fall, and on August 14, 2001, CEO Jeff resigned. Chairman Lei also serves as the chief executive officer. Everyone thought he would enter the Bush administration. Enron started a major earthquake, and employees felt betrayed. Fastau bet on Enron's future with the stock price rising all the time. His assistant, Sharon Joaquins, discovered the strangeness (connected transactions, fraudulent accounts) and decided to expose the fraud case of the century. In just 6 weeks, Enron collapsed. The Securities Regulatory Commission asked, and Arthur Andersen destroyed a ton of data. Soon, Fastao was dismissed, the quality control made false accounts and embezzled 45 million yuan, which was designed as a scapegoat. Obviously, this cannot be the personal behavior of Fastau, but the collective behavior of all communities of interest. 10 The past is so beautiful. On December 2, 2001, Enron declared bankruptcy. The key personnel sold 1 billion stocks, but the employees had nothing. They even invested their pension funds in the company. Reflecting on corporate culture, you may have won the world, but lost your soul. Seven weeks after Enron went bankrupt, Cliff Best committed suicide. Examine yourself, who am I? Am I still the self I know? In response to remittances and financial fraud, Fastao pleaded guilty and agreed to the court to confiscate 23 million assets and reduce his sentence to 10 years in exchange for accusing him of other Enron directors. Enron's failure lies in believing that cleverness and ingenuity can defeat the system. In 2004, Shi Jinlin was indicted on charges of insider trading and fraud against investors. He pleaded not guilty. Arthur Andersen was convicted of obstruction of justice. The credibility of the oldest auditing company in the United States was ruined. It collapsed with Enron, and 29,000 employees lost their jobs. Ken Ray was also charged with intent to defraud. In 2001, employees lost 1.2 billion in retirement funds and retired employees lost 2 billion in pension funds. Enron executives sold 116 million shares. In January 2006, Ken Lei and Shi Jinlin were tried. enterprise. Reflecting on corporate culture, you may have won the world, but lost your soul. Seven weeks after Enron went bankrupt, Cliff Best committed suicide. Examine yourself, who am I? Am I still the self I know? In response to remittances and financial fraud, Fastao pleaded guilty and agreed to the court to confiscate 23 million assets and reduce his sentence to 10 years in exchange for accusing him of other Enron directors. Enron's failure lies in believing that cleverness and ingenuity can defeat the system. In 2004, Shi Jinlin was indicted on charges of insider trading and fraud against investors. He pleaded not guilty. Arthur Andersen was convicted of obstruction of justice. The credibility of the oldest auditing company in the United States was ruined. It collapsed with Enron, and 29,000 employees lost their jobs. Ken Ray was also charged with intent to defraud. In 2001, employees lost 1.2 billion in retirement funds and retired employees lost 2 billion in pension funds. Enron executives sold 116 million shares. In January 2006, Ken Lei and Shi Jinlin were tried. enterprise. Reflecting on corporate culture, you may have won the world, but lost your soul. Seven weeks after Enron went bankrupt, Cliff Best committed suicide. Examine yourself, who am I? Am I still the self I know? In response to remittances and financial fraud, Fastao pleaded guilty and agreed to the court to confiscate 23 million assets and reduce his sentence to 10 years in exchange for accusing him of other Enron directors. Enron's failure lies in believing that cleverness and ingenuity can defeat the system. In 2004, Shi Jinlin was indicted on charges of insider trading and fraud against investors. He pleaded not guilty. Arthur Andersen was convicted of obstruction of justice. The credibility of the oldest auditing company in the United States was ruined. It collapsed with Enron, and 29,000 employees lost their jobs. Ken Ray was also charged with intent to defraud. In 2001, employees lost 1.2 billion in retirement funds and retired employees lost 2 billion in pension funds. Enron executives sold 116 million shares. In January 2006, Ken Lei and Shi Jinlin were tried.
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