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Enron...

03:28 AMJust wanted to know if anyone has been reading up on this just fabulous company that filed for Chapter 11 bankruptcy here in Houston

Exaggerated quarterly earnings...
Messed up stock sharing...
CEO is loading money into another company of his...

Didn't know if anyone else has been checking it out at all...it's been causing quite a stir here in our state reg

06:36 AMMultibillion dollar CEOs tend to be all of the same breed, cut-throat jerkoffs who only care about increasing their already absurd wealth. I personally wished will lived in a world where Joe Blow and his hardware store could compete with corporations. I understand that with America's respect to the global market that we need the power of corporations though. A double edged sword if you ask me.

Sonic reg

11:33 PM
quote:
Originally posted by Omnirus:
Just wanted to know if anyone has been reading up on this just fabulous company that filed for Chapter 11 bankruptcy here in Houston

heh.. a company I used to slave away for had Enron as one of it's biggest clients...
Not anymore!

At the place i'm working now, we just put in a bid to do a job for an Enron executive who got a nice bonus while the company burned... He's still working there, along with 1/10 of his department..

quote:

Exaggerated quarterly earnings...
Messed up stock sharing...
CEO is loading money into another company of his...

Didn't know if anyone else has been checking it out at all...it's been causing quite a stir here in our state

About 3 years ago, I told my father's financial planner that I would have the agency that licenses financial planners revoke his license if he didn't get rid of the Enron stock that was in my dad's portfolio... (I kinda knew a little bit of info about Enron's accounting practices that others didn't know- came from also having their accounting firm as the second largest client of a former employer, and listening to the auditors gripe about Enron...)

They would get a huge contract somewhere, and added all the profits they expected to earn over say a 30 year period into the quarter that they got the contract...

can you say... house of cards?

reg