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Getbig Main Boards => General Topics => Topic started by: Clubber Lang on November 08, 2006, 04:20:43 AM
Title: enron: the smartest guys in the room
Post by: Clubber Lang on November 08, 2006, 04:20:43 AM
anyone seen this?
fantastic doc on the enron scandal and cal energy crisis and teh across the board complicity and conditions that allowed it to go unnoticed for so long
Title: Re: enron: the smartest guys in the room
Post by: Dos Equis on November 08, 2006, 08:01:28 AM
I heard the book is pretty good. Haven't read it yet.
Title: Re: enron: the smartest guys in the room
Post by: Clubber Lang on November 08, 2006, 08:02:47 AM
they made a book of that :D
Title: Re: enron: the smartest guys in the room
Post by: 240 is Back on November 08, 2006, 08:10:27 AM
Anyone know what happened to all the Enron evidence?
Title: Re: enron: the smartest guys in the room
Post by: Clubber Lang on November 08, 2006, 08:12:24 AM
Title: Re: enron: the smartest guys in the room
Post by: Eyeball Chambers on November 08, 2006, 11:03:06 AM
I saw it. It was good.
Burnt up in the bombing of the World Trade Center. :(
Title: Re: enron: the smartest guys in the room
Post by: Clubber Lang on November 08, 2006, 11:12:43 AM
for those that dont know (and i was one of em till i saw the doc)
basically what enron did was use a type of accounting (mark to market i think) that allowed them to book future profits as soon as a deal was inked. given that stock price is highly correlated with earnings (its called a price to earnings ratio) you can see how this manipulated thier stock price.
now the problem with an accounting policy like this is eventually the money coming in doesnt match the money you already booked. the solution is you have to book even more bullshit revenues to make up for the other ones, and so on and so forth, so its a self feeding cycle. additionally, enron was actually losing obscene amounts of $$ so they came up with a myriad of holding companies to hidethe debt from public eye
the higher ups at enron were renumerated with stock options (in addition to their salaries) they had impending knowledge of enrons future demise and most of em cashed out, which pretty much guarnteed them a stay in prison
for my next lecture ill discuss the california energy crisis and how enron fucked thousands of people out of thier 401k plans
Title: Re: enron: the smartest guys in the room
Post by: Cavalier22 on November 08, 2006, 12:28:17 PM
wow this was interesting news like 4 years ago
Title: Re: enron: the smartest guys in the room
Post by: a_joker10 on November 08, 2006, 12:36:05 PM
Saw it about 3 months ago.
It was pretty wild what those guys were getting away with.
Gov. Schwarzenegger can thank these guys for insuring the recall would happen.
Title: Re: enron: the smartest guys in the room
Post by: drkaje on November 08, 2006, 01:53:41 PM
I want to see it. Heard somethig about it on NPR a year or so ago. Been too busy to do relaxing crap like that but plan on making time for silly stuff oer the holiday.
Title: Re: enron: the smartest guys in the room
Post by: Clubber Lang on November 08, 2006, 02:02:27 PM
ah ... the fast pace life of a fake dr ;D
Title: Re: enron: the smartest guys in the room
Post by: drkaje on November 08, 2006, 02:31:27 PM