12 Most Absurd Things From Enron's Annual Report
"From 1999 to 2000 Enron’s reported revenue went from $40.1 billion to $100.7 billion, a 151% increase."
"In our largest business we experience an enormous increase of 59% in physical energy deliveries."
"At a minimum, we see out market opportunities company-wide tripling over the next five years."
"Over the past five years wholesale Income has grown at a compounded average annual rate of 48 percent."
"The company’s total return to shareholders was 89 percent in 2000, compared with a negative 9 percent returned by the S&P 500."
"Broadband’s prospective global growth is huge - it should increase from just $17 billion today to $1.4 trillion within five years."
"In Volatile Markets, EVERYTHING CHANGES BUT US."
"Enron’s ability to deliver is one constant in an increasingly complex and competitive world."
"In 2000 income before interest rose 72% to $2.3 billion."
"Earnings from commodity sales and services increased 160% in 2000 as compared to 1999."
"Net cash provided by operating activities increased $3.5 billion in 2000, primarily reflecting a receipt of cash associated with the assumption of a contractual obligation."
"Strong growth in both the United States and Europe will account for a projected sales increase of approximately 100% in 2001."
In 2001 Enron filed for bankruptcy after a series of legal proceedings regarding their accounting practices. Their stock price went from $79.88 at the beginning of the year to $0.60 at the end of the year.
Jeffrey Skilling (Enron's CEO) was sentenced to 24 years in prison and Kenneth Lay (Enron's Chairman) was scheduled to be sentenced in late 2006 but died on a vacation months before his sentencing.
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