- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Were any of y'all working for and/or invested in Enron during the collapse?
Posted on 12/28/24 at 12:03 pm
Posted on 12/28/24 at 12:03 pm
Just curious to see if any of you baws were at ground zero for that shite show
10
Posted on 12/28/24 at 12:15 pm to FAT SEXY
I remember at LSU business school many professors really made Enron the company to be at in the mid to late 90s.
Didn’t end up there.
Didn’t end up there.
Posted on 12/28/24 at 7:06 pm to FAT SEXY
One of my coworkers at the time had a buddy who had been a CPA at Arthur Andersen who went inhouse with Enron about 6 months before it all collapsed. My coworker was getting the daily play-by-play from his buddy. It was crazy.
Posted on 12/28/24 at 10:46 pm to FAT SEXY
No. But I worked with a lady who had previously worked at Enron as did her husband.
Both lost their Enron jobs and I think I recall their retirement was heavily invested in Enron stock.
Sucked for them.
Both lost their Enron jobs and I think I recall their retirement was heavily invested in Enron stock.
Sucked for them.
Posted on 12/29/24 at 7:37 am to TDFreak
quote:
retirement was heavily invested in Enron stock.
There was a lot of this, Enron was one of the biggest and most respected companies in Houston.
They had their name on The Astros ballpark and all.
I lived in Houston from 91-99 and knew of several people who had worked and invested their retirement in Enron for 10 or so years.
And in the snap of a finger it was all gone
Share price drop: Enron's share price plummeted from over $90 per share in the mid-1990s to less than $1 by the end of November 2001.
This post was edited on 12/29/24 at 7:39 am
Posted on 12/29/24 at 8:17 am to The Torch
My dad lost some money in it.
He made the brokerage keep a ticker in his portfolio to remind him of how hard it is to be right.
He made the brokerage keep a ticker in his portfolio to remind him of how hard it is to be right.
Posted on 12/29/24 at 8:36 am to FAT SEXY
A high school friend’s dad was a mid-senior level manager there. He left before it all went to shite and ended up being my mom’s boss for almost a decade at another firm.
He swears he knew nothing… but magically he left a little over a year before the shite hit the fan and he cashed out his Enron holdings. He could be telling the truth… and to be fair, the law never found anything squirrelly with him.
He swears he knew nothing… but magically he left a little over a year before the shite hit the fan and he cashed out his Enron holdings. He could be telling the truth… and to be fair, the law never found anything squirrelly with him.
Posted on 12/29/24 at 9:07 am to FAT SEXY
I did some work for Enron as a consultant a few months before the collapse. Not a huge project for me. They were somewhat of a pain in the arse to work for. Their check cleared a couple of weeks before they went under. I have it framed on my office wall.
They had a group that would pay for projects in chemical plants, and then the plants would pay Enron back from the savings from the project. Not a bad idea in theory, but with the project I was involved in Enron spent millions on a high efficiency compressor, and then the company that owned the plant filed for bankruptcy. It was small potatoes to Enron but part of a larger picture.
They had a group that would pay for projects in chemical plants, and then the plants would pay Enron back from the savings from the project. Not a bad idea in theory, but with the project I was involved in Enron spent millions on a high efficiency compressor, and then the company that owned the plant filed for bankruptcy. It was small potatoes to Enron but part of a larger picture.
Posted on 12/29/24 at 9:23 am to TDFreak
I remember from the documentary that they had their employees somehow convinced to heavily invest their retirement in the company stock. How did they do this and was it different from regular publicly traded companies?
I never have hoped to never work for a publicly traded company.
I never have hoped to never work for a publicly traded company.
Posted on 12/29/24 at 8:23 pm to kaaj24
quote:
I remember at LSU business school many professors really made Enron the company to be at in the mid to late 90s.
Didn’t end up there.
Same. They REALLY sold it as cutting edge and the place we should all work towards getting to. I had a few profs offer to make calls on my behalf, but I was too wrapped up in a girl that wasn't leaving Louisiana. She's still putting up with my shite close to 30 yrs later.
Posted on 12/29/24 at 8:35 pm to fjlee90
quote:sounds like Lou Pai, their CFO who bolted I think a year before it went south. Cashed out. Sitting pretty.
He swears he knew nothing… but magically he left a little over a year before the shite hit the fan and he cashed out his Enron holdings. He could be telling the truth… and to be fair, the law never found anything squirrelly with him.
Posted on 12/29/24 at 8:37 pm to evil cockroach
Enron: The Smartest Guys in the Room
great documentary on it
great documentary on it
Posted on 12/29/24 at 8:39 pm to evil cockroach
quote:
sounds like Lou Pai, their CFO who bolted I think a year before it went south. Cashed out. Sitting pretty.
Wasnt he the one that married the stripper and bought a ton of land out west?
Posted on 12/29/24 at 9:10 pm to GeauxTigers123
Yep.
Posted on 12/29/24 at 10:31 pm to The Torch
Happened to a cousin of mine. He was in-house legal. Lost his job and retirement in an instant.
Posted on 12/29/24 at 10:46 pm to FAT SEXY
I know someone that made partner at Arthur Andersen in Houston about 6 months before Enron ended the firm. All of the Andersen people ended up getting sucked in by the remaining big 4 but he said it was sketchy for a few months. Kind of crazy that it took down the largest accounting firm in the world with it. Probably less than 20 people in the form of 10s of thousands knew anything about it. Outside of the Houston office I bet not that high of a percentage even knew they were a client
Posted on 12/30/24 at 6:06 am to FAT SEXY
Just out of LSU IA program in ‘99 working for Arthur Andersen at Enron. I left AA about 2 months before things went south
Posted on 12/30/24 at 8:05 am to FAT SEXY
Yes, admittedly so. I was advised to open an account at Merrill Lynch and the stockbroker sold me positions in Enron, Walmart, and an IRA (2k yearly contribution). My workplace had no 40l K retirement at that time.
Enron collapsed, and upon his advise I sold the Walmart shares for a $400 profit in a few weeks with a recommendation to purchase another individual issue. I was told that the broker was "churning" my account. I closed the account and purchased a Templeton no-load IRA and a subscription to
Money Magazine.
I have never regretted taking control of my own finances.
Enron collapsed, and upon his advise I sold the Walmart shares for a $400 profit in a few weeks with a recommendation to purchase another individual issue. I was told that the broker was "churning" my account. I closed the account and purchased a Templeton no-load IRA and a subscription to
Money Magazine.
I have never regretted taking control of my own finances.
Posted on 12/30/24 at 9:00 am to FAT SEXY
Both my parents are ex-Enron. I was pretty young when it all went down, but have pretty vivid memories visiting Enron summer camp and bring your kid to work days. Then remember my mom losing her job/retirement, but came out positive in the end.
My dad worked on the nat gas trade floor. He has some excellent stories of floor meetings and emails with execs, along with an all employees meeting on the backend of their fall.
My dad worked on the nat gas trade floor. He has some excellent stories of floor meetings and emails with execs, along with an all employees meeting on the backend of their fall.
Posted on 12/30/24 at 10:58 pm to St. Pete Tiger
quote:
Just out of LSU IA program in ‘99 working for Arthur Andersen at Enron. I left AA about 2 months before things went south
we probably crossed paths
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News