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- Slide: 1
- Enron took 16 years to become a giant with $65 billion in assets……and only 24 days to go bankrupt.
- “We will change the energy world!”
- Politician
- Ken Lay
- Slide: 2
- The beginning
- In 1985, Enron was born. The dream: become the biggest energy company in the world.
- Ken Lay, the leader, had powerful friends in politics.He loved deregulation — removing rules so companies could make more money.
- Slide: 3
- Cliff Baxter - The brain
- He grew up in a humble house, his father was a minister
- I want to be part of the business world
- Slide: 4
- Cliff Baxter - The brain
- He got a PhD in economics.He joins Enron and pushes for big growth. The company rises fast.
- Slide: 5
- Jeff Skilling arrives with a crazy idea. Investors love it. Enron becomes famous.
- Let’s trade natural gas like stocks. We don’t sell gas… we sell future gas!
- Slide: 6
- Fake profits
- Shhh. Put it in the books.
- But the money isn’t real…
- Employee
- Skilling’s accounting tricks:Mark-to-Market: Count future money as if it’s already here.Hypothetical Value: Profit from ideas that don’t exist yet.
- Slide: 7
- Lou Pai Joins the party
- He makes millions, sells his Enron stock, and leaves early — before the disaster.
- I love two things: money and strippers
- Slide: 8
- Andy Fastow´s Tricks
- Andy Fastow, CFO, builds a secret company: “LJM” to hide Enron’s debt —and secretly profits from both sides.
- Investors will never know
- Slide: 9
- Cheating California
- Enron manipulated electricity — shutting down power to raise prices.Enron: profits UP People: suffering
- Slide: 10
- Warning signs
- If people discover the lies… Enron will collapse.
- Slide: 11
- The fall
- Blame Fastow!!
- Slide: 12
- The tragedy
- Cliff Baxter becomes depressed.The pressure is too big and he takes his own life.
- Slide: 13
- Sherron Watkins, an Enron employee, warns the bosses…but Ken Lay ignores her memo.
- Destroy the evidence
- Arthur Andersen — the auditors —Destroy documents to hide fraud.Courts call it obstruction of justice.
- Slide: 14
- The truth comes out.Debt. Lies. Fake profits.Stock price crashes.Fastow gets arrested.
- In only 24 days… Enron went from world-class to bankrupt.Four months later — trials begin and executives face justice.
- Slide: 15
- Final Lesson
- Greed destroys.No company is too big to fall.
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