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Saturday, 7 October 2017

MOVIE: ENRON - THE SMARTEST GUYS IN THE ROOM




Enron: The Smartest Guys In The Room is a 2005 documentary movie, written by Bethany McLean & Peter Elkind, and directed by Alex Gibney. It touches on Accounting, Reporting, agency problems and business ethics.

The movie tells the story of how ‘America’s best energy company’, at the time, went under due to chronic corruption that emanated from its people.  Not only was it the best energy company; it became the seventh largest corporation in America.

Enron Corporation resorted to all forms of Shady deals, just to make money at all cost; such as instigating the California energy crisis, inflating profit & concealing losses, looting the retirement funds of employees, paying  deceptive (high) salaries, and so forth.

In spite of the fact that Enron Corporation rose to become the seventh largest corporation in America, and was described the 'best energy company' at the time,  their style was summarized as a Ponzi scheme; the traits where there, right from the onset.

Their books got so ‘filthy’ that the outcome of it was the destruction of a reputable accounting firm, Arthur Anderson.  

Almost every practice that transpired in Enron was a shocker to the business world and was described as the most shocking example of modern corporate corruption, hence a symbol of modern corporate corruption.

The fall of Enron Corporation is said to be the largest business scandals in American history.  

This is a must watch for every Entrepreneur; it’s thought-provoking and an eye opener to the ‘evil’ deeds in the modern day corporation.


Happy Weekend!


   



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