What Went Wrong at Enron: Everyone's Guide to the Largest Bankruptcy in U.S. History

Overview

An easy answer guide to the difficult questions surrounding Enron
What Went Wrong at Enron explains the critical steps, transactions, and events that led to the demise of a company that was once considered one of the most innovative corporations in the United States. Energy risk management expert Peter Fusaro gets inside Enron and provides a coherent account of the who, why, where, and when of this corporate debacle, without sacrificing the complexity of what has happened. Enron...

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Overview

An easy answer guide to the difficult questions surrounding Enron
What Went Wrong at Enron explains the critical steps, transactions, and events that led to the demise of a company that was once considered one of the most innovative corporations in the United States. Energy risk management expert Peter Fusaro gets inside Enron and provides a coherent account of the who, why, where, and when of this corporate debacle, without sacrificing the complexity of what has happened. Enron has been front-page news for months, but confusion still remains about what actually happened. What Went Wrong at Enron is written for readers who find themselves wondering what exactly is an energy trading company, what was the sequence of events that caused the largest corporate bankruptcy in U.S. history, and what does this all mean for me.

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Editorial Reviews

From Barnes & Noble
The Barnes & Noble Review
The first clear-eyed look at one of the greatest fiscal fiascos in corporate history, this short but informative book by veteran authors Peter C. Fusaro and Ross M. Miller provides a detailed summary of a truly sprawling scandal. The authors move swiftly, beginning with a brief survey of Enron's history, from its birth in the mid-1980s to its hype-heavy late-'90s zenith to its precipitous crash in early 2002. Along the way, they introduce key players -- Lay, Skilling, Fastow, and others -- outline the company's partnerships, and explore some of the complex financial issues involved in its collapse. Many of the most basic questions surrounding the overinflated energy behemoth -- What were the company's goals and strategies? What role did accounting giant Arthur Andersen play in concealing Enron's misdeeds? What was the nature of the relationship between CEO Ken Lay and President George W. Bush? -- are examined here with direct, just-the-facts clarity. One note of caution should be sounded, however: This isn't a comprehensive guide to anything and everything connected with Enron, particularly since it was written before the scandal's inevitable courtroom finales. Think of this book as an expanded version of the playbill you get when you first walk into a theater: It will introduce the actors, set the scene, and give you the background you need to know before sitting down to watch the drama unfold. (Sunil Sharma)
From the Publisher
"...first book to address the difficult questions surrounding Enron..." (Lloyd's List, 5 July 2002)

"Here come the Enron books...The best offering...is What Went Wrong at Enron." (The New York Times, Sunday, July 28, 2002)

"...a new book on the Enron debacle..." (The Sunday Business Post, 28 July 2002)

"...the gripping drama de jour..." (Business Eye, 1 August 2002)

"...the book chronicles the deception, back stabbing and eventual whistle-blowing that toppled the Houston-based company..." (Moneywise, September 2002)

"...the end result is quite gripping...it gave out information without even trying and it readily soaked into the consciousness..." (M2 Best Books, 15 August 2002)

"...ideal reading for a train journey or flight..." (Mortgage Finance Gazette, October 2002)

"...compelling and very clearly written book draws the right lessons from the Enron debacle" (Christopher Faille, HedgeWorld)

"...Fusaro and miller have provided an excellent primer to whet our appetites for the scurrilous revelations to come..." (Times Higher Educational Supplement, 22 November 2002)

"...a fascinating, highly readable blow-by-blow account of what led to a company's dramatic collapse..." (IEE Review, Janauary 2003)

"...a truly fascinating read." (Financial Adviser, 26 September 2002)

Peter Behr
The authors’ sharp insights into Enron’s self-destructive culture provide a clear road map into its massive failure.
Washington Post financial reporter
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Product Details

  • ISBN-13: 9780471265740
  • Publisher: Wiley
  • Publication date: 7/1/2002
  • Edition number: 1
  • Pages: 256
  • Sales rank: 1,232,706
  • Product dimensions: 5.48 (w) x 8.50 (h) x 0.68 (d)

Meet the Author

Peter C. Fusaro is founder and President of Global Change Associates, an energy consulting firm. His extensive research on Enron is regularly referenced by those investigating the firm's dramatic collapse.

Ross M. Miller is founder and President of Miller Risk Advisors. Previously, he taught finance and economics and then established the quantitative finance research group at General Electric.

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Table of Contents

Preface: In the Beginning.

1. Ken Lay's Junk Bond Ride Up on the Natural Gas Express.

2. A Pattern of Less than Full Disclosure.

3. The Skilling Case Study.

4. The Downside of Rank and Yank.

5. A Market a Day Keeps the Debt Away (But Only Temporarily).

6. Enron Goes Online.

7. Broadband Is a Costly Mistake.

8. Enron Takes on Water.

9. From Arrogance to Bankruptcy.

10. Of Talking Heads and Quiet Deals.

11. The Only Place to End the Enron Story.

Cast of Characters.

Through the Pipeline: An Enron Time Line.

The Enron Files.

References.

About the Authors.

Index.

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Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted September 1, 2002

    How many more Enrons!!!

    A fascinating documentary about Enron, that begs the question: how many more Enrons are out there? I once thought I understood accounting...until Enron. Great reading.

    Was this review helpful? Yes  No   Report this review
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