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The Enron Scandal Lessons Learned and Facts The Energy Company Enron got themselves into a load of trouble this year They made some terrible decisions involving their money Furthermore there were a lot of lessons learned and facts that were involved with the whole fiasco The first thing and most important thing the Enron scandal had an effect was the job situation Enrons financial implosion has cost thousands of employees their jobs and leaves 14000 people still employed by the bankrupt trader These people who are still employed by the company are also going to have to find jobs because Enron will not be able to recover from this debacle Enron employees are also out more than ten billion dollars in pension holdings which has not made these people too happy The last thing that affects the employees is the fact that most of the employees are major investors in the company and they have lost billions of dollars as Enrons stock has plummeted to penny-stock levels This whole scandal has been horrific for employees of the huge energy trader Enron was worth seventy billion dollars at its peak before this whole scandal was uncovered At least three class-action lawsuits target Enron executives directors and consultants alleging that these corporate officers new in advance that trouble was brewing and sold their stock accordingly They did this so they would not be out millions of dollars and on December 2 2001 Enron declared bankruptcy It came out that Enron allegedly used off the book partnerships to hide one billion dollars in debt and to inflate profits This declaration of bankruptcy was the largest in United States History The last people who are affected by this are the general public who was being provided with electricity by Enron These people are also investors who lost money in the company A lot of people are in huge financial debt from the ignorance of these executives at Enron
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