❅ Power Failure kindle Epub ❥ Author Mimi Swartz – Marjoriejane.co.uk

Power Failure chapter 1 Power Failure , meaning Power Failure , genre Power Failure , book cover Power Failure , flies Power Failure , Power Failure f8d2989ca33cd They Re Still Trying To Hide The Weenie, Thought Sherron Watkins As She Read A Newspaper Clipping About Enron Two Weeks Before Christmas, 2001 It Quoted CFO Jeff McMahon Addressing The Company S Creditors And Cautioning Them Against A Rash Judgment Don T Assume That There Is A Smoking Gun Sherron Knew Enron Well Enough To Know That The Company Was In Extreme Spin Mode Power Failure Is The Electrifying Behind The Scenes Story Of The Collapse Of Enron, The High Flying Gas And Energy Company Touted As The Poster Child Of The New Economy That, In Its Hubris, Had Aspired To Be The World S Leading Company, And Had Briefly Been The Seventh Largest Corporation In America.Written By Prizewinning Journalist Mimi Swartz, And Substantially Based On The Never Before Published Revelations Of Former Enron Vice President Sherron Watkins, As Well As Hundreds Of Other Interviews, Power Failure Shows The Human Face Beyond The Greed, Arrogance, And Raw Ambition That Fueled The Company S Meteoric Rise In The Late 1990s At The Dawn Of The New Century, Ken Lay S And Jeff Skilling S Faces Graced The Covers Of Business Magazines, And Enron S Money Oiled The Political Machinery Behind George W Bush S Election Campaign But As Wall Street Analysts Sang Enron S Praises, And Its Stock Spiraled Dizzyingly Into The Stratosphere, The Company S Leaders Were Madly Scrambling To Manufacture Illusory Profits, Hide Its Ballooning Debt, And Bully Wall Street Into Buying Its Fictional Accounting And Off Balance Sheet Investment Vehicles The Story Of Enron S Fall Is A Morality Tale Writ Large, Performed On A Stage With An Unforgettable Array Of Props And Side Plots, From Parking Lots Overflowing With Boxsters And BMWs To Hot House Office Affairs And Executive Tantrums.Among The Cast Of Characters Mimi Swartz And Sherron Watkins Observe With Shrewd Texas Eyes And An Insider S Perspective Are CEO Ken Lay, Enron S Outside Face, Who Was Interested In Playing Diplomat And Paving The Road To A Political Career Than In Managing Enron S High Testosterone, Anything Goes Culture Jeff Skilling, The Mastermind Behind Enron S Mercenary Trading Culture, Who Transformed Himself From A Nerdy Executive Into The Personification Of Millennial Cool Rebecca Mark, The Savvy And Seductive Head Of Enron S International Division, Who Was Skilling S Sole Rival To Take Over The Company And Andy Fastow, Whose Childish Pranks Early In His Career Gave Way To Something Far Destructive Desperate To Be A Player In Enron S Deal Making, Trader Oriented Culture, Fastow Transformed Enron S Finance Department Into A Profit Center, Creating A Honeycomb Of Financial Entities To Bolster Enron S Profits, While Diverting Tens Of Millions Of Dollars Into His Own PocketsAn Unprecedented Chronicle Of Enron S Shocking Collapse, Power Failure Should Take Its Place Alongside The Classics Of Previous Decades Barbarians At The Gate And Liar S Poker As One Of The Cautionary Tales Of Our Times From The Hardcover Edition.


10 thoughts on “Power Failure

  1. says:

    Update My wife and I just finished watching Enron The Smartest Guys in the Room, an excellent documentary made in 2005 I recommend it highly, especially as many of the seeds of the current economic crisis were apparent in the machinations of the Enron boys The parallels are uncanny.Ken Lay was the product of a very religious background in a small M...


  2. says:

    Watkins wasn t a whistle blower,she saw the fraud at Enron, told Ken Lay about it,and when he told her to be quiet about it,SHE COMPLIED, GOT A PROMOTION Conspiracy of Fools is an infinitely better book


  3. says:

    So a couple weeks back an online friend asked me just what the fraud at Enron was As I was unsatisfied with the answer I gaveor less concealing liabilities through a web of complex partnerships AKA special purpose entities or SPEs and, since my library had this audiobook, I figured might as well listen to this.Book begins by mentioning Houston s origins, including how the original promoters of the territory insisted the local waterway was navigable Barely Along wi...


  4. says:

    Given that Power Failure was written with Sherron Watkins a player of sorts in the situation , I expected it to have some unique insights but to be very agenda driven While Watkins comes out of it looking good, the book s strength actually turns out to be its relatively straight recounting of the events One can t pretend to be unbiased about the figures involved in the Enron scandal, but Power Failure does not aggressively push any particular theory about why things went wrong compared t Given that Power Failure was written with Sherron Watkins a player of sorts in the situation , I expected it to have some unique insights but to be very ...


  5. says:

    As the third Enron book I have read, it added little to what I already knew about the company But if this is your first book on Enron, then it will reveal everything about the Houston based company and its culture In any case, the book was very pleasur...


  6. says:

    Wow It is said that money and power are the root of all evil This book proves that assertion It is unbelievable to me unfathomable actually that human beings are as greedy and narcissistic as described in this book Even the heroine, the whistleblower, was susceptible to these traits and as such, should be given no sympathy Ken Lay, CEO of Enron was found guilty of 10 counts of securities fraud, circumvented incarceration by dying three months before the judge was to impose sentencing Wow It is said that money and power are the root of all evil This book proves that assertion It is unbelievable to me unfathomable actually that human beings are as greedy and narcissistic as described in this book Even the heroine, the whistleblower, was susceptible to these traits and as such, should be given no sympathy Ken Lay, CEO of Enron was found guilty of 10 counts of securities fraud, circumvented incarceration by dying three months before the judge was to impose sentencing Jeff Skilling, President was also found guilty sentenced to 24 years in jail Apparently, part of his conviction was overturned by the U.S Supreme Court and remanded back to the lower courts for retrial Finally, Andy Fastow CFO and responsible for most of the off balance sheet financial shenanigans that brought about Enron s downfall is currently serving a six year sentence The book was well written, albeit challenging to un...


  7. says:

    A good book with a lot of details about the Enron debacle At first you think that just a few people are the bad guys, cooking the books and keeping the debt off the balance sheet But as you read you realize how greedy all the people there were, including Sharon Watkins, the supposed whistle blower who really wasn t, though she did eventually go the the CEO with some of her questions and suggestionsa real whistle blower would have gone to the SE...


  8. says:

    Power Failure examines in great detail the story of Enron the players, the dynamics, the interesting accounting structures that lead to Enron s ultimate implosion.Although it s a compelling story, I think the level of detail of the various deals and the effect on Enron s financial statements might confuse the average reader Also, the author uses colorful and varied language to describe the people involved I suppose to give interest to the reader that don t really mesh One such instance Power Failure examines in great detail the story of Enron the players, the dynamics, the interesting accounting structures that lead to Enron s ultimate implosion.Although it s a compelling story, I think the level of detail of the various deals and the effect on Enron s financial statements might confuse the average reader Also, the author uses colorful and varied language to describe the people involved I suppose...


  9. says:

    I found this a fascinating book but I lived in Houston when the S hit the fan and did it ever The shock waves reverberated through the whole city, taking many down with it I admired sherron Watkins before reading...


  10. says:

    Fascinating inside look at the Enron culture.


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