Showing results for "Enron" in Business & Careers

What went wrong with American business at the end of the 20th century? Until the spring of 2001, Enron epitomised the triumph of the New Economy. Feared by rivals, worshipped by investors, Enron seemingly could do no wrong. Its profits rose every year; its stock price surged ever upward; its leaders were hailed as visionaries. Then a young Fortune writer, Bethany McLean, wrote an article posing a simple question - how, exactly, does Enron make its money?

Brian Cruver first entered the Enron's office complex, in March 2001. He was an eager MBA ready to cash in as a new hire with one of America's most highly valued companies. But, from his first day - when his new boss warned him, "there was a mix-up in the hiring process," but that it was "no big deal...just think of it like you're adopted" - to his last, when he and his colleagues were given thirty minutes to leave the building, Cruver found himself enmeshed in a business cult that each day grew only more bizarre.

It is more than just the biggest corporate bankruptcy in U.S. history. The collapse of Enron is a tale of greed, hubris, corporate dishonesty, loss of security, and shaken trust in the American economic system. More importantly, Enron's collapse marks the end of one era, and the start of a new one.