Enron Creditors Recovery Corporation (formerly Enron Corporation) (former
NYSE ticker symbol: ENE) was an
American energy company based in
Houston,
Texas. Before its
bankruptcy in late 2001, Enron employed around 21,000 people (McLean & Elkind, 2003) and was one of the world's leading electricity, natural gas, pulp and paper, and communications companies, with claimed revenues of $111 billion in 2000.
Fortune named Enron "America's Most Innovative Company" for six consecutive years. It
achieved infamy at the end of 2001, when it was revealed that its reported financial condition was sustained mostly by institutionalized, systematic, and creatively planned
accounting fraud. Enron has since become a popular symbol of willful corporate fraud and corruption.
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