The Bankruptcy of Enron

Paper Summary:

This paper examines Enron's bankruptcy and takes a look at the business community and the people involved with the financial departments of the corporation in order to analyze reasons for the failure. It discusses those affected by the bankruptcy, including Enron employees, the public, and the external market.

From the Paper:

"The former employees of Enron are also the targeted audience as they are the ones who really suffered and they need to know and be assured that the prospect of their newly found joblessness is being looked into and hope shone through a weave of bureaucracy and red tape. Hundreds of current and former employees of the failed energy firm filed a joint court case, seeking damages for losses they suffered by investing in the company's share plan. The complaint, which is on behalf of more than 400 staff, names ex-chief executives Kenneth Lay and Jeffrey Skilling, ex-finance director Andrew Fastow, auditors Andersen and trustee firm Northern Trust as defendants. The allegation is that Enron encouraged its employees to invest their savings in its shares, despite the knowledge of senior executives about the firm's real plight."

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