The $63 BILLION Company That Sold Nothing

Comments · 1.2K

• MI

  @Mito383 · 1 year ago

  And everyone learned their lesson about overvaluing companies with no actual performance and this never happened again.

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• MI

  @michaelareay1037 · 1 year ago

  I knew someone who worked at Enron at this time. After the collapse he remarked, "well at least I don't have to explain to anyone why I left my last job".

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• LE

  @lelkek130 · 1 year ago

  Enron is where the hell gate opened and now every American Company is just a Enron in different skin suits

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• JS

  @JS-rz5gx · 1 year ago

  $63 Billion seems like rookie numbers nowadays.

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• JE

  @jeffnogo · 1 year ago

  From this entire story, there are only 2 surprising things.  That the company wasn't bailed out by the government, and that the people in charge were actually sent to jail instead of just given millions of dollars in bonuses from the bailout money.

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• DI

  @DivusMagus · 1 year ago

  It's almost like a car company who's market cap is higher than all other car conpanies combined but sells barely any units.

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• DA

  @davidtverberg2606 · 1 year ago

  Skilling was sentenced to 24 years in prison; he appealed and the sentence was dropped to 14 years, he served 12 and 1/2 years at a minimum security prison in Waseca, MN (neighboring town) and was released in 2019.  He and Ken Lay messed up a lot of people’s lives.

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• IM

  @imranak · 1 year ago

  You left out a big part....When Enron stock started the freefall...the Enron employees except Lay, Fastow, and Skilling were actually frozen out of their portfolio/accounts, meaning even if they did want to sell their stocks they were blocked from doing so.

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• FL

  @floydjohnson7888 · 1 year ago

  <a href="https://www.youtube.com/watch?v=VSbO8vmZNm0&amp;t=223">3:43</a> I&apos;m no MBA, but presenting &quot;projected income&quot; as &quot;money in the bank&quot; sounds like a recipe for serious debt.

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• DE

  @DesTries · 1 year ago

  My pops worked at a Cali electric company as the VP of finance and was on the team tasked with keeping them afloat during the Enron period. &nbsp;If you want to know how Enron made money, it&apos;s simple, beyond just falsified stock inflation, they were buying into power plants on the west coast, intentionally turning generators off and creating artificial shortages to charge more. When I was a kid, during the Enron period, our energy costs doubled.

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• DL

  @dlhfm4281 · 1 year ago

  This is a stark reminder to not let your employer manage your retirement.

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• ET

  @ethan19942012 · 1 year ago

  I’ll never forget what Enron did to California when I was a small child. &nbsp;Having to deal with all those power outages in elementary schools all because Enron traders were telling power plants to go offline during peak use hours for “maintenance” so they could jack up the rates and make money.<br>I wonder how many people they killed in California so they could keep their sham going.

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