An American corporation based in Houston, Texas, that traded in energy and filed for Chapter 11 bankruptcy in December 2001. Enron’s collapse stunned most investors and analysts because Enron, the seventh largest corporation in the United States, had long reported huge earnings. Subsequent investigations revealed that Enron had inflated its earnings by hiding its debt and losses in subsidiary partnerships. Although some of the company’s top executives made huge profits as Enron fell apart, many of its employees saw their retirement savings in Enron’s 401(k) plan wiped out by the collapse of Enron’s share price.
Note: Enron’s collapse raised many questions about the reliability of corporate financial statements and the potentially cozy relationships between accountants and the firms they audit.
[ahn root, en; French ahn root] /ɑn ˈrut, ɛn; French ɑ̃ ˈrut/ adverb, adjective 1. on the way: The plane crashed en route from Cairo to Athens. /ɒn ˈruːt; French ɑ̃ rut/ adverb 1. on or along the way; on the road 1779, French, literally “on the way.” On or along the way, as in […]
[enz, ens] /ɛnz, ɛns/ noun, plural entia [en-shee-uh, -tee-uh] /ˈɛn ʃi ə, -ti ə/ (Show IPA). Metaphysics. 1. an existing or real thing; an entity. [en] /ɛn/ noun 1. the letter N, n. 2. Also called nut. Printing. half of the width of an em. adjective 3. Printing. having the area of an or the […]
[en-sang-gwin] /ɛnˈsæŋ gwɪn/ verb (used with object), ensanguined, ensanguining. 1. to stain or cover with or as with blood: a flag ensanguined with the blood of battle. /ɪnˈsæŋɡwɪn/ verb 1. (transitive) (literary) to cover or stain with or as with blood
[en-sam-puh l] /ɛnˈsæm pəl/ noun, Archaic. 1. . /ɛnˈsɑːmpəl/ noun 1. an archaic word for example n. “precedent,” c.1300, variant of asaumple, from Old French essample “example” (see example). The survival of this variant form is due to its use in New Testament in KJV.