Enron the smartest guys in the room documentary

In the film, Mr Louis Bourget the president of Enron diverted the companyвЂ™s profit into his personal account, destroyed the companyвЂ™s records, and gambled the companyвЂ™s money. Andrew Fastow the Chief Financial Officer who breached his duty to Enron and its shareholders and made more than $45 million through the creation of a number of front companies designed to hide EnronвЂ™s losses.Д«y maintaining an appearance of profitability, the companyвЂ™s executives were able to consistently reward themselves with huge bonuses.ДЄssume that Mr Kenneth Lay, the founder of Enron had provided a loan of ВЈ1 million to the company and that following the collapse of the company Mr Lay attempted to recover his money from the company but the liquidator resisted his claim on the ground that there was no difference between Mr Lay and the company since he had overall control over the company and that instead of trying to claim money from the company he should be made liable for its debts.Lou Pai, the elusive CEO of Enron Energy Services who had an obsession of gambling and visiting strip clubs using shareholder money and who left suddenly with a $250 million pay-out when his department was $1 billion in debt.its new CEO, Jeffrey Skilling who used an accounting tactic, mark-to-market, to record the companyвЂ™s projected future profits as its current income as soon as a contract was signed regardless of the actual profit that the contract would generate.its president Louise Bourget who diverted the companyвЂ™s profits into his personal bank account, destroyed the companyвЂ™s record and gambled the companyвЂ™s money.

its founder Kenneth Lay who gambled away all of the companyвЂ™s assets and reserves and encouraged the companyвЂ™s president to gambled more in trading and also claimed that the company was the вЂbest energy company in the worldвЂ™ when he should have known that the company was bankrupt and had been worthless for years.

Its executive officers were involved in the companyвЂ™s unethical and often criminal activities. Put simply, Enron gambled in the energy market and manipulated it and other commodities and even considered вЂtrading weatherвЂ™ at some point. But betting and the publication of consistent profits, which very few questioned, would be the hallmark of the company right up to its collapse.Д®nronвЂ™s ambition was to reinvent the energy industry as a market place where gas and electricity could be traded like shares and bonds. Within two years of its founding in 1985 by Kenneth Lay, the company becomes embroiled in a scandal after two of its traders begin betting on the oil market resulting in consistent profits.

The company gave itself an appearance of profitability by inflating its profits and concealing its losses through corrupt bookkeeping practices, with the acquiescence of its highly paid firm of accountants, Arthur Anderson.

The outcomes include: suicides by corporate executives, jail sentences, the dismissal of more than 20,000 employees and the loss of life savings by thousands more while the companyвЂ™s top executive walk away with more than $1 billion. Enron is the story of insatiable greed made possible by the perpetratorsвЂ™ ingenious ability to invent highly questionable methods to portray the company as a successful company and win the trust and admiration of a gullible public with devastating outcomes. вЂEnron: The Smartest Guys in the RoomвЂ™ is a 2005 documentary film detailing the biggest corporate scandal and collapse in American history. Documentary Film вЂ“ Enron: The Smartest Guys in the Room (2005)

Enron the smartest guys in the room documentary