%PDF-1.2 %���� The Smartest Guys in the Room The Amazing Rise and Scandalous Fall of Enron ... 434 pages • Enron, a massive energy management fi rm, turned out to be a house of cards. The movie is about a crime story and the bankruptcy of ENRON, one of the most successful and even considered as the 7th largest corporation in America, due to the fraudulent acts by the top management. 0000101289 00000 n
0000031948 00000 n Who allowed this to happen?” is the first question that comes to our mind when we read this case? 0000027173 00000 n Smartest Guys In The Room- Analysis The movie centers on the Company Enron Corporation , which went Bankrupt in the year 2001 leaving hundreds of its staffs unemployed and thousands of its investors bereft. In 1987, two years after the company was established, Enron experienced its first crisis where they were on the brink of bankruptcy due to traders making bets on the oil markets. Well the answer to this question is as follows:Fill in your details below or click an icon to log in:Enter your email address to follow this blog and receive notifications of new posts by email. From that single image springs […] The thing I liked most about this documentary was the fact that it focused on the guys at the top, the self-proclaimed "smartest men in the room", the so-called geniuses who knew the energy business so much better than the rest of the industry.
Subsequently, Skilling thought of another method to falsify the company’s real financial position through “Hypothetical future value which includes counting the business expected income in the future and excluding the losses of the company. 0000015650 00000 n 0000002077 00000 n InterNorth was a holding company that was located in Nebraska and in 1979 purchased Natural Gas Company. The auditing firm as a place filled with CPAs who committed themselves to honesty, should have known better than being an accomplice for the accounting frauds and should have devoted themselves into questioning the acts of ENRON instead of letting the temptation get through them.
It presents a classic example of corporate lobbying too. 0000181884 00000 n Condition The issue involving Enron Corporation focuses on professional independence. The residents of California noticed these unlawful acts and they sued ENRON 6 billion for the refund of energy. The company sought to forsake old industry and embraced the world of freewheeling e-commerce. The entire story of how Enron Corporation, one of the world’s major energy giant, collapsed is beautifully portrayed in the 2005 documentary film called “The Smartest Guys in the Room” which is based on the best-selling 2003 book of the same name, written by The main cause for Enron’s failure is the wrongful and fraudulent intent of the top management to deceive its shareholders, employees and other stakeholders and look out for their personal well-being. 0000032312 00000 n
The Smartest Guys in the Room The film The Smartest Guys in the Room was based of the book with the same tile by Bethany McLean and Peter Elkind. The film examines the 2001 collapse of Enron.. At the time of the collapse, Enron was the largest bankruptcy in history.The Enron story is one of money and politics, which are two areas that embody the culture of big business in America. In hopes to get a source of income, ENRON created a fake energy crisis in California to get the price of energy to rise in the market. 301 certified writers online. In the following passage, I will describeThe Smartest Guys in the Room The film The Smartest Guys in the Room was based of the book with the same tile by Bethany McLean and Peter Elkind. The film shows video tapes or footage and audio records that reveals the immorality of Enron’s employees and management and the non-existence of corporate values and proper leadership.The director’s cut also shows the greediness and the erroneous administration of the top management composed by Kenneth Lay, the founder of the business, Jeffrey Skillings and Andrew Fastow, all of them are considered as the smartest guys in the room including their accomplices.