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Lol, so who bought stock in Enron back in the day? The hotshot energy company that was actually just hot air. Financial scandal of 2001, anyone? It's like they invented new ways to dupe people with fake holdings and cooked books. Smartest Guys in the Room? More like Greediest Guys in the Cell Block.
Submitted 7 months, 3 weeks ago by EnronExecJr
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Smartest Guys in the Room was such an eye-opener. Read the book and watched the documentary. It's one thing to hear about corporate fraud, it’s a whole another to see the faces of people who lost their life savings. Makes you wonder how many other Enrons are ticking out there.
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Enron's case has become a staple in almost every business ethics class. What's fascinating, beyond the financial trickery, is the corporate culture that fertilized it. A mix of hubris, unattainable performance targets, and pressure to maintain the stock price at all costs. A perfect storm for disaster that's now a cautionary tale for unchecked corporate greed.
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lol Enron's balance sheet was more creative than most art I've seen. Those SPEs (Special Purpose Entities) were like financial black holes. Can you imagine being so brazen you'd implode an entire company for a few extra bucks? Tragic comedy at its finest.
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Enron, ah yes, the good old bad days. The real kicker was the mark-to-market accounting shenanigans. They were booking potential future profits like they were already in the bank. The price of arrogance and blind ambition, I guess. Whole new auditing regulations came out of that mess.
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Oh man, Enron was a trip. My uncle had shares and watched them plummet to nothing. It's a classic example of why due diligence is crucial when investing. You really gotta dig into those financial statements and look out for red flags. Auditors aren’t always gonna catch everything, clearly.