There are some companies whose reputations speak for themselves – Enron, Lehman Brothers, MadoffTheranos-ku scandals were so dishonest you would think there would be zero chance of a comeback.
Well, you would think.
On Monday, a “new” Enron. issued a press release unveiling its “relaunch” to “solve the global energy crisis” just in time for the 23rd anniversary of the company's collapse.
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There is a new one Enron.com website that looks very legit, with About Us, Careers, and Company Store options. The store is sale of goods (t-shirts, hoodies, vests, sweatshirts), even has an “employee” portal. They also have new social channels.
The website says a “big” announcement is coming in six days.
Is Enron Really Back?
It is doubtful. The reboot appears to be an elaborate hoax to sell merchandise. Ars Technica suggests the announcement that comes in six days could be a crypto currency.
Publicly available DOCUMENTS found by CNN find out that an Arkansas LLC called The College Company bought the Enron trademark in 2020 for $275. Connor Gaydos, co-creator of “Birds Aren't Real,” a joke that became a Millennial and Gen Z conspiracy theory, is affiliated with the LLC.
below terms and conditionsThe website says it's a “protected parody” for “entertainment purposes only,” for USA Today.
When CNN reached out to the press contact on the new website, they received a response from New York communications firm Stu Loeser & Co that said they “will have more to share soon” and declined further comment. .
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What happened to Enron?
Formerly based in Houston, Texas, Enron was an energy and commodities company that collapsed in 2001 after executives were found to have overstated earnings and the company's financial health.
Executive, including CEO as CFO, went to jail after receiving criminal convictions for lying to investors. At the time, Enron had more than $60 billion in assets, and the scandal left thousands of victims in its wake.
It was one of the largest bankruptcy filings in US history. for Britain. Corruption also led to the dissolution of Arthur Andersen LLPwhich was then one of the largest auditing and accounting firms in the world.