Posts Tagged ‘Enron’

Endless possibilities in accounting

February 6, 2010

We went to see the play Enron the other night. I thought it would be a serious drama but the treatment is comic/satirical with a bit of singing and dancing too. Which took a bit of getting used to but actually I think it made the serious points hit home more forcefully and memorably.

I didn’t realise that Enron had been named Fortune magazine’s ‘Most Innovative Company’ for 6 consecutive years directly before it unravelled … their greatest innovations being in the area of accounting procedures.  And its slogan was ‘Endless possibilities’ – the irony is almost too delicious.

They went bankrupt in 2001, which feels like ages ago, yet the corporate hubris portrayed in the play feels horribly familiar even now.  Companies and markets and the media are still so demonstrably capable of collective delusion and losing their moral compass. Depressing.  Makes you wonder which companies that we currently revere and may well have endlines about ‘possibilities’ might actually be a house of cards …