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Download Power Failure: The (Lib)(CD) ePub

by Mimi Swartz

Download Power Failure: The (Lib)(CD) ePub
  • ISBN 0736692886
  • ISBN13 978-0736692885
  • Language English
  • Author Mimi Swartz
  • Publisher Books on Tape (March 25, 2003)
  • Formats lit txt docx lrf
  • Category Business
  • Subcategory Biography and History
  • Size ePub 1710 kb
  • Size Fb2 1563 kb
  • Rating: 4.6
  • Votes: 746


Originally published: New York : Doubleday, 2003. Includes bibliographical references and index.

Written by prizewinning journalist Mimi Swartz . Power Failure does a good job debunking many of the misunderstandings that surround the Enron case.

Micro-Machinations Library.

Аудиокнига "Power Failure: The Inside Story of the Collapse of Enron", Mimi Swartz, Sherron Watkins. Мгновенный доступ к вашим любимым книгам без обязательной ежемесячной платы.

The book is by Mimi Swartz and Sherron Watkins of Enron fame. I tried diligently to follow this story as it unfolded in real time in the newspapers

Clements' text is an homage to the power of books, but it also reminds . We have never read an Andrew Clements book that we haven't loved. -The Washington Post.

The client wants to modify the information of a police record. The remote ip of the victim is 3. 51.

ower Failure Book I. Chain Reaction. The effect was not lost on the smaller man watching the controlled power of his movements from across the room.

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Talk about Power Failure: The (Lib)(CD)


Bliss
More information is laid out in this book that was not covered the "The Smartest Guys in the Room". Read them both to get the full story of this event. But back to Power Failure - Lay, Skilling and Fastow (among others) are crooks, plain and simple. What is more disappointing is that so many banks, law and accounting firms were lured into the web of deceit weaved by Enron executives. Read more $$$$$ is better than integrity and honesty. The few honest employees/consultants that were in the know, who showed genuine concern for the events that lead to the collapse were out cast as the ones that did not "get it".

The real losers (not in a negative context) were the hard working honest employees of Enron, who, poured life savings into a company that was successful on paper only. I am truly sorry for the Lay family of the loss of Ken, but he cheated the legal system by not being able to serve his sentence for his evil deeds.

The author does a great job of taking complex terms and concepts and explaining them so non-business/finance folks like me can easily understand what was right and what was wrong with what Eron was doing. I can assure you that Eron knew the difference and chose to take the wrong road. Had Lay, Skilling and other done it the right way - Enron would probably still be a thriving entity in the energy community today.
IWantYou
Great explanation in distinct detail of a company gone bad. Highly recommended. A good page turning read. You will enjoy this book.
Breder
Everyone is familiar with the story of Enron Corporation, but do they really know what factors initiated the destruction of this world-respected company? While the outcome is obvious, few people are knowledgeable about the cause of this atrocity. The media spun this news event into a tale of good guys versus bad guys - the powerful executives hurting the weaker, low ranking employees. But the profoundness of this case is that such a scandal can occur at any corporation.

As effectively illustrated in Power Failure, the handiwork of CFO Andy Fastow blurred the lines of legality so indistinctly, that it was difficult for several renowned legal firms and accounting firms to recognize as unethical. It was not an obvious shuffling of numbers that inflated earnings over $4 billion dollars, but gray areas that bordered fair accounting and federal crime. The discreetness of the financial operations is what hid billions of dollars in debt from investors, other executives, and auditors. After reading the book, it is evident how such a scheme could slip past the CEO without notice.

The best aspect of Power Failure is that it describes the malignant financial manipulations in detail. It perfectly describes how Enron used accounting practices like FAS 25 to book earnings before they could be earned. It shows how Enron used fair value accounting as an unfair means of shuffling assets and making profits. It shows Andy Fastow's the gradual chipping to create a complex network of special purpose entities, which turned into a recipe for disaster.

Power Failure does a good job debunking many of the misunderstandings that surround the Enron case. Despite the media glamour as a hero, the "whistleblower" Sherron Watkins actually played a minor role in exposing the scandal. The mysterious suicide of accountant Cliff Baxter really had no hidden agendas. Questions can also be raised as to Ken Lay's participation in the event, despite his insider trading of stock.

Perhaps the greatest strength of Power Failure is that it can show executives of other companies what to watch out for. Students and accounting buffs will also find this a worthwhile read. Being knowledge about the Enron story may even prevent such an incident at your company.
Invissibale
Very good information.
Thanks.
Enrique.
Rrinel
I recommend reading "Conspiracy of Fools" first to get to know the cast of characters. Then read this to get a participant's perspective. What is shocking is how easy it was to steal millions. The answer is chicken oversight.
Cheber
Good read.
Xurad
Unless you are a corporate bean counter and have a firm foundation of the Enron debacle, I suggest you read Robert Bryce's *Pipe Dreams: Greed, Ego, and the Death of Enron* before reading "Whistle-blower" Sherron Watkins' story, here with the help of Texas Monthly's Mimi Swartz. *Power Failure* is focused more on Enron's people and personalities than The Big Picture. If you are clueless about "Mark to Market" accounting, return to *Pipe Dreams* and do not collect your now worthless Enron-backed Pension.
The photos are more plentiful here and the personalities come alive in their wicked glory. There are no footnotes, and few quote attributions - which can lead to credibility issues. What was her motivation? What did she know and when did she know it? Why wait so late? There is one cool -and it's even attributed- quote, which, unfortunately, Azon's "editors" will not let me quote here in its entirety. It goes something like this: Senator Peter G. Fitzerald to Kenny-Boy (Pres. G.W.'s pet name for him) Lay: You're perhaps the most accomplished confidence man since Charles Ponzi. I'd say you were a carnival barker, but that wouldn't be fair to carnival barkers.
Reviewed by TundraVision
Well written, interesting story. Corporate and individual greed revealed again. They really put the screws to the people and government of California..