Enron

Enron THE COLLAPSE OF ENRON In early, 2001, Enron Corporation was named most innovative company in America for the sixth year in a row by Fortune Magazine. Soon enough things had turned and by December 2001, Enron filed for bankruptcy. Enron was the premiere trading company of the world, listed as the world’s greatest energy company and now in 2001 suffered the worst business failure in U.S. history. The U. S. was devastated by this and it really hurt all of the employees within Enron. Thousands of employees lost their jobs, savings, 401 (K) retirements plans virtually overnight. One retiree was reported to have lost $1.3 billion in savings and shareholders investors lost nearly $70 billion in market value. No one had even the slightest clue that any of this was going to happen, just like that they were out of there jobs with no money. People with families and children had nothing anymore, it was a travesty. The employees who had invested so much of their stock and savings in Enron’s plans suffered the most form this sudden downfall. They had nothing left to show for all of the hard work that had put company, enron, thought, people, employees, prices, gas, buy, year, savings, producers, one, money, markets, market, lost, little, lay, kenneth, jobs, idea, even, energy, electricity, earlier, companies, billion, being, about, 2001, worry, world’s, world, ways, trading