Hollywood Starts with Animation

"Hollywood Begins with Animation ()" Find the latest chapter!

"As early as the beginning of 2001, I pointed out in a follow-up interview with "New Finance and Economics": Enron's business looks brilliant, but in fact it can't make any money, and no one can tell how Enron is. Profitable."

"Enron's profitability was 5 percent in 2000, and fell below 2 percent in early 2001, and for investors, the return on investment was only about 7 percent."

"This shows what?"

"It shows that Enron's profitability simply can't match its market value of $100 billion."

"Enron Corporation is under the jurisdiction of Enron Natural Gas Pipeline Group, Enron Investment Corporation, Enron Energy Services Corporation, Enron International Corporation, Enron Oil and Gas Corporation, Enron Renewable Energy Corporation, Enron Capital and Trading Resources Corporation. These seven major subsidiaries are fully making it one of the largest integrated gas and power companies in the world."

"It's also the number one wholesaler of natural gas and electricity in North America."

"But... the annual return on investment is only about 7%, don't you think it's ridiculous?"

At this moment, NBC, one of the five largest public television networks in North America, is broadcasting a financial program, and the guest speaker in this issue is Jim Cheos.

Jim Cheos, the boss of an investment bank on Wall Street.

He was also the first to question Enron's return on investment!

Once upon a time, no one believed his words.

"believe him?"

"How can we trust him?"

"In contrast, Enron, as the largest wholesaler of natural gas and electricity in North America, has a good reputation and is more worthy of everyone's trust. On the other hand, Jim Cheos, who is a speculator on Wall Street, is comparable. Of course we trust Enron more!"

"People on Wall Street are unbelievable!"

"The five major investment banks on Wall Street, including Beresden, Lehman Brothers, and Merrill Lynch, have not made any remarks that questioned Enron. What is he like Jim Cheos?"

"Jim Cheos, a grandstanding, hilarious fellow."

......

This was the view of the vast majority of shareholders and investors in early 2001.

They didn't trust Jim Chios at all.

Enron Energy Corporation, one of the largest energy, commodity and service companies in North America, with a market value of more than $100 billion, was listed as the 7th among the "Top 500 American Companies" by Fortune magazine not long ago. With such a big name, it is naturally easier to win the trust of the public.

But!

By August 2001, they had to... re-examine what Jim Chios said.

Enron's stock price fell, very serious!

In early 2001, Enron's stock price was $83 per share;

In August 2001, Enron's stock price was $42 per share;

In the past eight short months, Enron's stock price has been cut in half, losing half of its market value!

"Damn!"

A senior freelance investor frantically shouted: "The stock price has been cut in half, but Enron actually said it was a normal event?!"

"Who is this fooling?"

Up to now, the person who has questioned Enron is not only Jim Cheos, who first raised it, but thousands and tens of thousands of investors.

Moreover, the number of people questioning is still growing rapidly!

The spokesperson of PricewaterhouseCoopers, one of the world's four largest accounting firms, was the first to say:

"Faced with more and more doubts, I suggest that the relevant departments intervene quickly. When necessary, I, PwC, are willing to help."

PricewaterhouseCoopers has spoken, so the other three of the world's top four accounting firms are naturally not alone.

KPMG: "We are willing to accept the task at the lowest price and start a thorough financial investigation of Enron!"

Deloitte: "The stock price has halved, and there must be something wrong with Enron!"

Ernst \u0026 Young: "It is recommended to intervene immediately!"

......

The influence of the big four accounting firms in the world,

Undoubtedly quite amazing!

It's not~

More and more investors have joined the ranks of questioning Enron.

Under the grim situation, Jeffrey Skilling, then the CEO of Enron, held a press conference immediately and declared at the meeting: "Many people say that Enron is ill, and in the name of Enron CEO, I formally Promise everyone, there will be no problem with Enron!"

"I'm advising some people again, well, yes, I'm talking about Jim Chios of Wall Street..."

"In an interview with the media more than once, he madly targeted our Enron company. What is his motive?"

"Does he have detailed data?"

"Does he know the financial reporting expenses of each of Enron's subsidiaries?"

"he knows......"

"He doesn't know anything, I just ask, why does he question again and again?!"

"The legal department of Enron Corporation has entrusted the Mitchell Law Firm to formally submit an application to the Houston District Court to formally initiate a lawsuit against Jim Cheos, who has repeatedly spread false statements."

Jeffrey Skilling, the CEO of Enron, spoke loud and clear.

The shot is also unambiguous.

He took Jim Cheos directly to court.

......

Followed by.

As an influential accounting firm in North America, Arthur Andersen also stood up.

As the final reviewer of Enron's financial problems, Arthur Andersen Accounting Firm naturally stood on the side of Enron, and it took aim directly at the world's four largest accounting firms.

"KPMG, PwC, Deloitte and Ernst \u0026 Young... so deceiving!"

"As the world's largest accounting firm, they should uphold a fair, rigorous and transparent style of conduct, but the reality is that they have made false statements time and time again without knowing the specifics."

"To be honest, I'm disappointed!"

"KPMG, PricewaterhouseCoopers, Deloitte and Ernst \u0026 Young, as the world's largest accounting firm, have made such remarks that are close to rumors. It is extremely disappointing~"

Bar up!

The overall strength and influence of Arthur Andersen Accounting Firm is naturally not comparable to the Big Four accounting firms, but its strength is not bad in North America.

There are a large number of Fortune 500 companies in the United States, and the final audit of their financial affairs is undertaken by Arthur Andersen Accounting Firm.

It has the confidence to fight against the big four accounting firms!

......

Aug. 10.

Because of more and more doubts from the outside world, the relevant departments of the United States quickly set up a special team to intervene in the investigation of Enron.

"Bloomberg", "New Finance", "Fortune"... A series of well-known financial media in the United States have all chosen to follow and report.

The market value of hundreds of billions of dollars;

7th among the top 500 companies in the United States;

One of the largest North American energy, goods and services companies in North America;

No matter which title, many people are very concerned about it.

Especially those investors who hold Enron's stock are very concerned, after all, it's about their money!

" "The first more is sent.