What was it like working for Enron?

Enron was full of smart people and most of them were great to work with. It’s too bad that the few high level bad eggs ruined a great company. Pay was great and stock options were nice.

Was Enron a good place to work?

Enron Corp. was named one of the “100 Best Companies to Work For in America” by Fortune magazine. The Fortune survey is based primarily on feedback from employees, who were randomly selected to fill out a 57-question survey developed by The Great Place to Work Institute in San Francisco.

What happened to the employees at Enron?

Most of the 5,000 people turned out of work in the Enron collapse found new jobs and managed to land on their feet. But many had put their retirement money into Enron stock, and they’re now at the back of a long line of creditors.

Why Enron employees were afraid to question unethical practices?

Followers were afraid to question unethical and or illegal practices for fear of losing their jobs. Instead, they were rewarded for their unthinking loyalty to their managers (who ranked their performance) and the company as a whole (Fusaro & Miller, 2002).

What working at Enron taught me about corporate ethics?

Being a leader means using your platform to create a positive legacy. Creating markets in everything from natural gas to dark fiber to weather derivatives. At a Fortune 10 company.

How many employees lost their jobs from the Enron scandal?

Enron’s 20,000 employees lost their jobs and $1.2 billion in retirement funds tied up in company stock; its retirees saw $2 billion of their pension funds evaporate.

Did Enron employees lose their 401k?

Many Enron Corp. Employees suffered steep losses in their 401(k) plans because more than 60\% of the assets were in Enron’s stock at one point, and the stock has dropped to about 50 cents a share from a peak of $90 last year.

What happened to Enron employees retirement money?

As stock in the company dropped from more than $80 per share to mere pennies, tens of thousands of people saw their pension and investment accounts depleted or destroyed. All told, Enron employees are out more than $1 billion in pension holdings.

Did Enron employees get any money back?

employees who lost millions of dollars in retirement money in the company’s stunning collapse would get $85 million in a partial settlement of their lawsuit, attorneys said yesterday. Both suits were filed in federal court in Houston, where Enron had its headquarters, and the settlements must be approved by the court.

What examples of unethical conduct did you see by Enron employees?

Enron faced an ethical accounting scandal in 2001 after using “mark-to-market” accounting to fake their profits and misused special purpose entities, or SPEs. Enron worked to make their losses seem less than they actually were, and “cooked the books” to make their income look much higher than it was.

What was Enron’s culture like?

In Enron’s case, its corporate culture played an important role of its collapse. It was culture of greed and moneymaking – In Enron, greed was good and money was God. There was a little regard for ethics or the law. Such attitudes infused the whole company from the top down to individual workers.