There are some firms whose reputations communicate for themselves—Enron, Lehman Brothers, Madoff, Theranos—the place the scandals had been so dishonorable you’d suppose there can be zero likelihood of a comeback.
Properly, you’d suppose.
On Monday, a “new” Enron released a press release revealing its “relaunch” to “clear up the worldwide power disaster” simply in time for the twenty third anniversary of the corporate’s collapse.
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There is a new Enron.com website that appears spookily legit, with “Who We Are,” “Careers,” and “Firm Retailer” choices. The shop is selling merch (T-shirts, hoodies, vests, sweatshirts), and there is even an “worker” portal. Additionally they have new social channels.
The web site says a “huge” announcement is coming in six days.
Is Enron Actually Again?
It is uncertain. The relaunch seems to be an elaborate prank to promote merchandise. Ars Technica suggests the announcement that’s coming in six days may very well be a crypto coin.
Publicly obtainable documents discovered by CNN reveal that an LLC out of Arkansas known as The Faculty Firm purchased the Enron trademark in 2020 for $275. Connor Gaydos, the co-creator of “Birds Aren’t Actual,” a joke that grew to become a Millennial and Gen Z conspiracy concept, is related to the LLC.
Beneath the terms and conditions, the web site says that it’s “protected parody” for “leisure functions solely,” per USA Today.
When CNN reached out to the press contact on the brand new web site, they obtained a reply from New York communications agency Stu Loeser & Co that stated they’re going to “have extra to share quickly,” and declined additional remark.
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What Occurred to Enron?
Previously based mostly in Houston, Texas, Enron was an power and commodities firm that collapsed in 2001 after executives had been discovered to have majorly overstated earnings and the monetary well being of the corporate.
Executives, together with the CEO as CFO, went to prison after receiving prison convictions for mendacity to buyers. On the time, Enron held greater than $60 billion in belongings and the scandal left 1000’s of victims in its wake.
It was one of many greatest chapter filings within the historical past of the U.S., per Britannica. The corruption additionally led to the dissolution of Arthur Andersen LLP, which was then one of many largest auditing and accounting firms on the planet.
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