Enron Fallout

The mighty Enron company rose from 11 cents to 15 cents after the recent guilty verdict of the infamous former leaders, Ken Lay and Jeff Skilling. Gone are the days of the $90 per Enron share! The now penny stock used to be a darling of the stock market.
Time magazine has wrote an interesting article about the whole Enron saga and the legacy that the corrupt businessmen that ran the company have left behind..
The Enron Effect
"After a four-year investigation, 16 weeks of testimony and less than six days of deliberations, a jury of eight women and four men decided the decline and fall of Enron weren't just bad press and bad luck, as the two had claimed. The rot came from within. For all the Porsches parked in the company garage, it turns out Enron didn't have much in the bank. Forensic auditors have discovered that cash flow in 2000--the money left over after the bills are paid--was a negative $153 million, not the heady $3 billion claimed. The nearly $1 billion profit was bogus." Time Magazine

# Major Companies, Stock Market