Word: enronizing
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Reverberations from the $60 billion collapse of energy giant Enron are spreading to the White House. Enron CEO Kenneth Lay, Bush's biggest donor, has many ties to Bush officials. Economic adviser Lawrence Lindsey and trade negotiator Robert Zoellick were once on the Enron payroll, and others, like political adviser Karl Rove, held sizable chunks of Enron stock. Now questions are being raised about the role Lay may have had in the energy task force overseen by Vice President Dick Cheney, which deliberated in secret and made policy proposals seen as friendly to industry. Representative Henry Waxman, a California Democrat...
...Absolute Worst Enron, the U.S. energy giant that brought the trading of electricity, oil and natural gas to the Internet, was once considered among the most innovative of companies. Then a combination of slumping energy prices, dubious accounting and trading practices, management hubris and a pile of debt brought the firm to its knees. Though 4,000 employees lost their jobs, the now bankrupt company did manage one last spending surge: it paid $55 million to 500 of its "critical" executives to persuade them to stay...
...million Amount Enron paid out in bonuses to 500 executives before declaring bankruptcy...
...Number of Enron employees laid off after the company's bankruptcy...
...billion Estimated Enron stock loss of the Belfer family, one of the company's biggest investors...