The movie really centers on Jeff Skilling, the former chief operating officer of Enron. The film tells the story of Enron, as it started by Ken Lay, who served as chief executive officer, and how the firm went from boom to bust in a matter of months. Yes, ladies and gentlemen, the Statement of Cash Flows is still an important document worth reviewing. As the story unfolds, it tells of emerging markets and how the California energy deregulation in the early 1990s and how Enron capitalized on this new market. Unfortunately, I was hoping the story would detail the exact accounting transactions, specific to the other ancillary firms that Andy Fastow and Skilling setup for off-balance sheet financing and such. It does get somewhat granular, the recorded phone calls between the Enron energy traders are pretty revealing. The film also describes how the persistent lying, deception and corruption led to Skillings inevitable depression and Cliff Baxter, Enron vice chairman's apparent suicide. I wish the film went deeper into the stories of the rank and file, one employee's 401K that was valued at $400,000 at one point was sold for $1,200.
The soundtrack was decent.
I was surprised that the Blockbuster associate told me that I was the first person to rent the title, and it was three full days since it was on the shelf. I guess investors will never learn. Any business student, investor, and corporate executive should see this film.
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Regards,
Mike
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