First published 2004
Fortune senior writers Bethany McLean and Peter Elkind investigate the collapse of Enron, once celebrated as a New Economy success story with soaring profits and stock prices. Just two years before its downfall, Enron seemed to epitomize corporate excellence. The unraveling began when McLean published an article asking a simple question: How exactly does Enron make money? This inquiry triggered the collapse of what proved to be an elaborate house of cards. McLean and Elkind dig deep into Enron's history, from its humble beginnings to its rise as a business world titan and ultimate catastrophic fall. Through extensive research and unique sources, they reveal the true nature of major figures like Ken Lay, Jeff Skilling, and Andy Fastow, along with lesser known players such as Cliff Baxter and Rebecca Mark. The authors take readers behind closed doors into private meetings and corporate machinations. This character-driven investigation exposes a tale of corporate greed, executive arrogance, and systematic deception that reflects broader problems in American business culture.
Genres: history, business, crime, economics, 21st-century, finance, accounting, business-ethics
Vibes: character-driven, fast-paced, thought-provoking
Tropes: corporate-corruption, downfall-of-empire, expos
Setting: Enron
Period: 2000s
440 pages · Paperback · Portfolio Trade