| Username |
Post |
| diyalo |
Posted
on 01-Dec-01 08:10 PM
Lessons to be learnt from Enron's collapse
http://timesofindia.indiatimes.com/articleshow.asp?art_id=1678327341
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| Biswo |
Posted
on 03-Dec-01 12:29 AM
It is interesting to note the sombre mood of Houston these days.
The department head of Rice University, dept of Economics lamented the loss of prospective multimillion dollars of endowment from Lay (CEO of Enron) family. So is
the pain of other departments of the highly endowed school.
The headquarter of Enron in Houston alone is employing 7K+ people. They are
now not even sure about their 401K retirement plan.
For a lot of people, it is so unbelievable to see their own homegrown company,
which rose to Fortune #7 among Fortune top 100 companies, meltdown that way.
The situation more is more complicated when you think about the awards etc
awarded to Enron management team for their best performance in management
of company finance in the past years.
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| arnico |
Posted
on 05-Dec-01 09:15 PM
Enron will not be the last multinational to collapse. Diyalo, if you have time it would be interesting to monitor what happens to its investments and incomplete construction projects in India now.
... might teach us interesting lessons about future dealings with multinationals. What kind of provisions the contracts should have...
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| Zippy Burgermouth |
Posted
on 06-Dec-01 01:39 PM
Indeed a very sad story. This morning I was listening to NPR and they were saying an Enron employee who had 401K worth $1.2million few months ago is now valued at only $13K.
PS - If anybody is wondering about my name, go to Humor section and click under Buttercup Cootie Head.
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| Dorkey Gizzardnose |
Posted
on 06-Dec-01 01:57 PM
I hear you Zippy.
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| pinky waffle |
Posted
on 06-Dec-01 04:54 PM
I wonder though what caused the sudden collapse - ther were running on a profit till one or two quartes ago
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| ukyab |
Posted
on 06-Dec-01 05:06 PM
They were not. They were just showing that they were. Shady accouting practices y'know.
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| Biswo |
Posted
on 06-Dec-01 05:42 PM
Fall of Enron probably also has repercussion in our irradiate dream of Karnali
project: some overenthusiast Enron officers dazzled Nepali audience by talking
about multibillion project there sometimes ago.
|
| Burrrr |
Posted
on 06-Dec-01 05:43 PM
Enron's collapse was only due to their lack of "credibility". The upper management were doing side-business through their own company that hid their credits. Improper accounting practice of this company killed it- in less than 3 months. I almost bought this stock when it was at $60, during which period they had beaten the analyst estimate each quater and were upbeat every inch. I wish I had shorted, but I am just glad I did not go down with them.
The funny thing is this-- their accounting is done by Anderson Consulting-- they pay over $50 million (one of the highest accounting fees) and this is what they get.
For a public company- if you cook your books, you are going down, no matter how big.
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| U2 |
Posted
on 07-Dec-01 01:36 AM
Enron is now alomost dead. Our Karnali Chisapani will have to find another developer!
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| Rajib |
Posted
on 07-Dec-01 01:41 AM
Does FM R.S. Mahat know about it??
This is an example of Profitization. We have to learn lesson from other.
Rajib Sharma
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