We are approaching the tenth anniversary of the collapse of Enron. Have the lessons been learnt? Enron was the US energy giant that failed only 12 months after its share price rated it the seventh largest corporation in the US. A handful of tenacious journalists penetrated the miasma of filed data and revealed that the bulk of its reported earnings were unmatched by cash. The share price collapsed and bank support for its energy trades dried up. In late 2001, it filed for bankruptcy.
展开▼
