Waubonsee Community College

The Enron scandal, directed by Emanuel Amara

eng

videorecording

For College; Adult audiences

The Enron scandal

electronic resource

747796727

directed by Emanuel Amara

57

Global business and economics in video

This film highlights the events that led to the bankruptcy of Enron in 2001. It was the first in a series of debacles that included the mammoth corporations Tyco and WorldCom as well as the leading accounting firm Arthur Andersen. Investigators, politicians and victims reveal the incredible story. The film covers the first revelations of colossal losses, the collapse of the stock, the discovery that directors had lied to shareholders and the misappropriation of funds for personal use. The company had been governed by the cash culture of its managers, where forgery and the creation of fake companies were commonly used. While Enron's officers were busy reassuring their employees and the public that everything was fine, they were selling their stocks as quickly as they could before the stock collapsed. Enron s bankruptcy sent shockwaves throughout the country. Many employees lost their pensions, their investments and their jobs while stockholders found their supposedly substantial holdings to be worthless. Even President Bush's mother-in-law owned $6,000 worth of Enron stock. Subsequent to the events described in the film, a number of officers confessed to their deceptive actions. In May 2006 former chief executives Kenneth Lay and Jeffrey Skilling were found guilty of fraud and conspiracy in a trial held in Houston -- the site of Enron s lavish and once-proud headquarters

general