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When I started working on “How Enron Blew It” in the summer of 2001, the company’s stock price was valued at around $50 per share. It had been on a downward slope for a year by then—from a high of $90—and we all know what happened next. By December, the company that had been the darling of Wall Street—beloved by Forbes, Fortune, BusinessWeek, and others—had a stock price worth exactly 26 cents. Its leadership was scrambling to hire the country’s best criminal defense attorneys, while employees and investors lost nest eggs once worth millions.Enron collapsed in what whistleblower Sherron Watkins predicted would be a wave of accounting scandals. The company that had once claimed to be the global corporation of the future, marking its self-appointed…

The post How Enron Foretold Our Greedy, Disastrous Present appeared first on Texas Monthly.

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