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Enron: America's Most Innovative Company

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Enron: America's Most Innovative Company
Enron, a Houston-based commodities, energy and service corporation, was named “America’s Most Innovative Company” for six consecutive years by Fortune Magazine. Ironically, its shares price had peaked at $90.75 in August 2000 and dropped massively to $0.67 in January, resulting in shareholders losing approximately $11 billion. In the November of 2011, it was revealed that Enron’s earnings had been overstated by several hundred billion dollars because enormous debts had been kept off from the balance sheets and U.S. Securities and Exchange Commission (SEC) opened a formal investigation into Enron’s transaction. Enron incorporated “market to market accounting” for its energy business and used it on an unprecedented scale for its trading transactions,
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