Power Failure: The Rise and Fall of Enron

By 2000, the Enron Corporation was a colossus. Over 16 years it hadransformed itself from a stodgy Texas pipeline company into the world'siggest energy trader, with annual revenues of $100 billion. From itslittering skyscraper in Houston Enron hustled deals in the world's energy,rom natural gas to wind power, from Third World refineries to Britain'sessex Water. Its share price increased by 1700 per cent; its aggressivelyasual staff prided themselves on their ruthless competitiveness, lavishages, and obligatory Porsche Boxster. Even Enron's skewed "E" logo seemed toevel in a jaunty angle from conventional business reality.;A year later, athe end of 2001, Enron imploded. Thousands of staff were laid off, theirensions - invested in its stocks - worthless, the banks were exposed forundreds of millions of dollars, and suddenly President Bush's closeriendship with Enron's founder looked unwise. It has been an ongoing newstory ever since.;Now, drawing closely on the testimony of Sherron Watkins,he vice-president first to blow the whistle on its dubious accounting