The Enron Scandal

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Rachael Enrici Mrs. Cravens Literacy Course III 13 May 2014 The Enron Scandal Enron deliberately created artificial shortages in California for electricity, two days in a row, causing the price to skyrocket. Enron is a natural gas and electricity plant/business that buys and sells energy. The most influential historical event that has happened during the 21ST century is The Enron Scandal because the loss sustained by investors exceeded $70 billion and only a small amount of the lost money was returned. The Enron Scandal made millions of investors devastated. Enron’s stock prices were at $90.75 per share and fell to $0.61 in one day, which caused them to go bankrupt that day. Enron had experienced tremendous financial losses. The bankruptcy resulted from arrogance, greed from foolishness from the top management all the way down. Enron made lots of mistakes leading to their bankruptcy. A few people bring trouble to Enron. J. Clifford Baxtor, a former Enron executive, committed suicide after Enron went bankrupt to escape the consequences he would fac...

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