The Enron Collapse: Creative Accounting, Wrong Economics or Criminal Acts? [Paperback]

Djanicelle Barreveld (Author)

Book Description

Publication Date: March 27, 2002

The shocking story of the collapse of America's seventh largest company. Founded in 1985, Enron soon expanded beyond imagination. The company ventured into new territories such as internet trading, using state of the art financial and technical solutions. In the 90's Enron operated the largest eCommerce business in the world. The company's revenues soared, from the year 1999 to the year 2000 revenues doubled from $50 billion to $100 billion. The sky seems the limit for Enron. Early 2001 clouds appear on the horizon. Enron's stock prices erode from $90 to $40 at the end of July 2001. On August 14, CEO Skilling resigns suddenly. Whistleblower Sheron Watkins informs Kenneth Lay about questionable accounting practices. Stocks keep on falling. In October Enron announces a downward adjustment of its results with $1 billion, stocks nosedive to $12. In December Enron has to file for bankruptcy, stock prices drop below one dollar. An energy giant collapsed in the shortest possible time, leaving its employees, shareholders and creditors in the cold. But is Enron an incidental case or the top of an iceberg? Or is it the prelude of a financial meltdown caused by a combination of wrong American and Japanese economic policies?

Editorial Reviews

About the Author

Drs. Dirk J. Barreveld was born in the Netherlands in 1941. After a career in the Dutch merchant navy, he was active in the Dutch international transport world. In 1987 he became a permanent resident of the Philippines. In the Philippines he works as international consultant, teaches Economic Science at universities and publishes books. Drs. Barreveld holds a doctoral degree in Economic Science from the Erasmus University in Rotterdam.

Product Details

• Paperback: 224 pages
• Publisher: iUniverse (March 27, 2002)
• Language: English
• ISBN-10: 0595221629
• ISBN-13: 978-0595221622
• Product Dimensions: 9.1 x 6 x 0.6 inches
• Shipping Weight: 12.2 ounces (View shipping rates and policies)
• Average Customer Review: 1.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #4,554,038 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

11 of 11 people found the following review helpful:

2.0 out of 5 stars The Enron Collapse: Basics for the Beginner, June 7, 2002

By 

Leigh Anne Dear (Houston, Texas) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: The Enron Collapse: Creative Accounting, Wrong Economics or Criminal Acts? (Paperback)

After reading this book I was incredibly disappointed .... 1/2 of the book consists solely of excerpts from Enron's year 2000 annual report. The author relies upon the February 2001 report print date as a means to assure his audience that they, the officers and auditors, were lieing through their teeth in the report and isn't it just shocking when you juxtapose that annual report language against the crumbling events of 2001. Throughout all this recopying of text the author doesn't give us anything but the most basic of observations with language fit more for tabloid reporting.

The second half of the book consists primarily of excerpts from the Powers Report and several testimony's before the various congressional financial sub-committee's. Again, little merit in the author's observations regarding the content but lots of tabloid language to thrill us.

Lastly, the book closes with an economic history of capitalism. Filler space, if you will.

If you haven't read an annual report, if you haven't followed this case in any of the major newspapers, if you do not have a business degree and are not actively involved some way in a company's accounting and financing environment then perhaps this book will be of interest. Let me leave you with one positive note: I would recommend this text for advanced high school students who want to study business. Minus the tabloid language, that's the most appropriate marketing avenue for text of this kind.

10 of 10 people found the following review helpful:

1.0 out of 5 stars Terrible., July 23, 2002

By A Customer

This review is from: The Enron Collapse: Creative Accounting, Wrong Economics or Criminal Acts? (Paperback)

No wonder the author got this book out so soon after Enron's fall. He filled the book with the work of others and then threw in old essays on the failures of capitalism that have no connection to the Enron scandal. Don' waste your money on this book.