There are some firms whose reputations converse for themselves—Enron, Lehman Brothers, Madoff, Theranos—the place the scandals had been so dishonorable you’d assume there can be zero likelihood of a comeback.
Effectively, you’d assume.
On Monday, a “new” Enron launched a press launch revealing its “relaunch” to “remedy the worldwide power disaster” simply in time for the twenty third anniversary of the corporate’s collapse.
There is a new Enron.com web site that appears spookily legit, with “Who We Are,” “Careers,” and “Firm Retailer” choices. The shop is promoting merch (T-shirts, hoodies, vests, sweatshirts), and there is even an “worker” portal. In addition they have new social channels.
The web site says a “large” announcement is coming in six days.
Is Enron Actually Again?
It is uncertain. The relaunch seems to be an elaborate prank to promote merchandise. Ars Technica suggests the announcement that’s coming in six days may very well be a crypto coin.
Publicly accessible paperwork discovered by CNN reveal that an LLC out of Arkansas known as The Faculty Firm purchased the Enron trademark in 2020 for $275. Connor Gaydos, the co-creator of “Birds Aren’t Actual,” a joke that turned a Millennial and Gen Z conspiracy idea, is linked to the LLC.
Underneath the phrases and circumstances, the web site says that it’s “protected parody” for “leisure functions solely,” per USA At the moment.
When CNN reached out to the press contact on the brand new web site, they obtained a reply from New York communications agency Stu Loeser & Co that stated they’re going to “have extra to share quickly,” and declined additional remark.
Associated: From Tom Brady to Kevin O’Leary – See Who Misplaced Huge within the Wake of the FTX Crypto Collapse
What Occurred to Enron?
Previously primarily based in Houston, Texas, Enron was an power and commodities firm that collapsed in 2001 after executives had been discovered to have majorly overstated earnings and the monetary well being of the corporate.
Executives, together with the CEO as CFO, went to jail after receiving legal convictions for mendacity to traders. On the time, Enron held greater than $60 billion in property and the scandal left hundreds of victims in its wake.
It was one of many greatest chapter filings within the historical past of the U.S., per Britannica. The corruption additionally led to the dissolution of Arthur Andersen LLP, which was then one of many largest auditing and accounting firms on the earth.
