It started as a natural gas company and was later dubbed “America’s most innovative company” but Enron ended up being a major disaster, a scandal unlike any other and a warning about greed and dishonesty gone wild.
Enron began as an energy company located in Houston, Texas. Finding success early on, the business sprawled into an energy trading venture, making money off of selling and buying energy like currency. The corporation’s profits ballooned and Enron was soon worth billions. Things were going great for Enron. Well, on paper.
But underneath all the success was a corrupted system of inflated profits and all-out lies. Enron was losing money. A lot of money. That all came to a head in the fall of 2001, when it was revealed that Enron was inflating its income by $586 million annually since 1997. Their books had been burned by accountants and indictments started flying. The damage was done: Enron declared bankruptcy, the biggest bankruptcy case in American history at the time. Investors and employees lost millions and those running the show were sentenced to prison time for fraud but the punishments were minor, next-to-nothing when you consider the crimes they committed. Enron will always be a prime example of what happens when people in power value money more than people. Enron will forever symbolize unchecked corporate greed at its worst.
The Enron logo. "Integrity: optional"
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