Description
The story of Enron, the company that faked billions in profit, caused blackouts for money, and evaporated overnight. "The Energy Illusion - How the smartest guys in the room built a house of lies" dissects the collapse of Enron. In 2000, Enron was named "America's Most Innovative Company" for the sixth year in a row. It claimed revenues of $100 billion. By 2001, it was bankrupt.Financial journalist Robert Powell explains the complex "Mark-to-Market" accounting fraud. Enron booked potential future profits as actual money today. When the cash didn't materialize, they hid the debt in shell companies. The book also details how traders manipulated the California power grid, causing rolling blackouts to spike prices."The Energy Illusion" is the ultimate case study in corporate culture gone wrong. It shows what happens when a company values stock price over integrity and how 20,000 employees lost their pensions because of the greed of a few executives.
