•Enron: 21,000
•Arthur Anderson:
29,000
•Retirement:
$1.2 Billion
•Pensions:
$2 Billion
http://media3.washingtonpost.com/wp-srv/photo/gallery/091224/GAL-09Dec243428/media/PHO-09Dec24-195540.jpg
http://popcornreel.com/notebaxter.jpg
http://www.apfn.org/enron/baxter2-1-02.jpg
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Ken Lay
• Founder
• Humble Roots
• “Kenny Boy”
• Valhalla Scandal
http://www.soxfirst.com/wp-content/uploads/enron1.jpg
Lou Pai
• CEO Energy Services and
Xcelerator
• Exotic Interest
• Huge Losses
http://www.sfgate.com/examiner/pictures/1997/09/10/enronenergypailou.jpg
Andrew Fastow
• CFO
• Special Purpose Entities
• Merrill Lynch Fraud
• JEDI and Chewco
http://caraellison.files.wordpress.com/2009/05/andyfastow2.jpg?w=538
Jeff Skilling
• President
• Extreme Behavior
• Mark-to-Market
• Arthur Anderson
• Performance Review Committee
• “Enron Illusion”
• Resign and Decline
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Corporate Governance
• Tone at the Top
• Culture
• Code of Conduct
• Performance Review Committee
• “Hubris and greed instead of goals and aspirations…”
Litigation
• Fastow sentenced to reduced term of 10 years
• Lou Pai got away with $250 million
• Jeffrey Skilling was sentenced to 24 years in prison
• Ken Lay died awaiting sentencing died in 2006