Jeff Skilling_IOI

Jeff Skilling_IOI - Colin Fleming ACCT 116A 3/24/2009 Enron...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Colin Fleming ACCT 116A – 3/24/2009 Enron – “The Guys in the Room” – Individual of Interest I have selected Jeff Skilling – Former COO of Enron as my individual of interest due to the nature in which he conducted his last few months at the company. Jeff Skilling joined Enron from a competitor McKinley & Company in 1990, five years after the company was founded in Omaha Nebraska, 1985. Jeff Skilling was a leader in the downfall of Enron, COO in fact, however he was not actually an employee of the company once the negative aspects, leading to the bankruptcy came into the public eye. Mr. Skilling resigned from his position August 14, 2001 and swiftly sold up to 450,000 of his shares accumulated while employed. (Wikipedia) Under Skilling, Enron adopted mark to market accounting, in which anticipated future profits from any deal were tabulated as if real today (Wikepedia). This procedure was the determining factor in both the rise and fall of the Enron Company. Skilling actually coined the term: the company didn't really need any "assets." This
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.
Ask a homework question - tutors are online