Download Pipe Dreams; Greed, Ego and the Death of Enron by Robert Bryce PDF

By Robert Bryce

After the surprising cave in of Enron in fall, 2001 got here an both surprising sequence of disclosures approximately how America's seventh-largest corporation had destroyed itself. there have been unethical bargains, offshore money owed, and accounting irregularities. there have been Wall road analysts who looked as if it would were asleep at the activity. there have been the lies best executives informed in order that they may well line their very own wallet whereas employees and shareholders misplaced billions.

yet in the end those disclosures, the query continues to be: Why? Why did a thriving, cutting edge corporation with rock-solid funds circulate and trustworthy gains without warning flame out in a maelstrom of corruption, fraud and skulduggery? the reply, Texas company journalist Robert Bryce unearths during this incisive and wonderful booklet, is that undesirable enterprise practices commence with humans. Pipe desires strains Enron's miraculous transformation from a small local fuel pipeline corporation into an power Goliath...and then tracks step by step, enterprise determination by way of enterprise determination, extra-marital affair through extra-marital affair, how, whilst and why the tradition of Enron started to cross rotten, and who was once liable.

the tale of Enron's fall is not just a narrative approximately accounting approaches; it is a tale approximately humans. Bryce tells that tale with the entire character, ardour, humor, and within dope you would desire for, and the result's an un-putdownable learn within the culture of Barbarians on the Gate and The Predators' Ball.

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Additional info for Pipe Dreams; Greed, Ego and the Death of Enron

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Sometime in the late 19703, he began having an affair with his then secretary, an assertive (some people close to Lay call her pushy) woman named Linda Phillips. According to executives who knew Lay at the time, his desire to make a clean break with Judie and start a new life with Linda was a major factor behind his next career move. And as he had done before when he was considering a career switch, Lay called Jack Bowen. Bowen recalled that in late 1980 or early 1981, Lay called him and said he was "having some domestic problems.

Those options were going to make everyone at the company rich, that is, if Enron could just keep impressing Wall Street with big profits. There were plenty of other theories. A Wall Street analyst said the sexual shenanigans of the top executives could not be discounted. It was well known that Enron president Jeff Skilling had cheated on his wife for years before divorcing her. Other top execs, including Ken Lay, Ken Rice, Lou Pai, and others, had also been involved in adulterous affairs. That raised a red flag among some observers on Wall Street, particularly those who loathed Skilling and his arrogance.

It's one of the most ethnically diverse cities in America. It will soon have no distinct majority. Instead, it'll have one-third Anglos, one-third Hispanics, and one-third everybody else. That everybody else includes a huge Asian population. Its Asian markets on the far western side of town are nothing short of amazing. Every type of live fish, squid, eel, and octopus is available for purchase, along with dozens of exotic teas and herbs from the Far East. The people are invariably friendly. The city's theater district is world class.

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