"A solid, intelligent and fair account of the hubris that made Enron famous and important, then crazy and crooked."
-Martin Mayer, author of The Fed and The Bankers
"Loren Fox unravels one of the great downfalls in the history of corporate America and lays bare the toxic confluence of innovation, greed, and hubris."
-James S. Hirsch, author of Hurricane: The Miraculous Journey of Rubin Carter and Riot and Remembrance
"The tragic debacle of Enron is a defining event for today's generation of business professionals. Loren Fox synthesizes the complex details into a story that is lucid, engrossing, and fast-paced. Study this story as a mirror for our time."
-Robert F. Bruner, Distinguished Professor of Business Administration,
Darden Graduate Business School, University of Virginia
The word "Enron" has officially entered the American vocabulary-not as the symbol of excellence and innovation that Chairman Kenneth Lay envisioned but as the corporate embodiment of greed, excess, and unprecedented fraud. Never in history has one company plummeted so quickly from the heights of power and glory to the depths of public humiliation, bankruptcy, and criminal investigation, dragging so many individuals and firms down with it. Simultaneously fascinating and frightening, Enron: The Rise and Fall provides today's most illuminating and entertaining book on what was right-and wrong-with late twentieth-century corporate America.
"I'd say you were a carnival barker, except that wouldn't be fair tocarnival barkers. A carnie will at least tell you up front that he's running a shell game. You, Mr. Lay, were running what purported to be the seventh largest corporation in America."-Senator Peter Fitzgerald (R-IL) to Enron CEO Kenneth Lay, Senate Commerce Science & Transportation's Subcommittee, Hearing on Enron, 2/12/02
The speed of Enron's rise and fall is truly astonishing and perhaps the single most important story of corporate failure in the twenty-first century. In Enron investigative journalist Loren Fox promises readers nothing short of the most compelling and insightful investigation into Enron's meteoric ascent-regarded by Wall Street and the media as the epitome of innovation-and its spectacular fall from grace. In a lively and authoritative manner, Fox discusses how the biggest corporate bankruptcy in American business history happened, why for so long no one (except for an enlightened few) saw it coming, and what its impact will be on financial markets, the U.S. economy, U.S. energy policy, and the public for years to come. With access to many company insiders, Fox's intriguing account of this corporate debacle also provides an overview of the corporate culture and business model that led to Enron's high-flying success and disastrous failure. The story of Enron is one that will reverberate in global financial and energy markets as well as in criminal and civil courts for years to come. Rife with all the elements of a classic thriller-scandal, dishonest accounting, personal greed, questionable campaign contributions, suicide-Enron captures the essence of a company that went too far too fast.