HE - "HE'S HEARTBROKEN." No one ever disputed that Skilling...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
"HE'S HEARTBROKEN." No one ever disputed that Skilling was clever. The Pittsburgh-born son of a sales manager for an Illinois valve company, he took over as production director at a startup Aurora (Ill.) TV station at age 13 when an older staffer quit and he was the only one who knew how to operate the equipment. Skilling landed a full-tuition scholarship to Southern Methodist University in Dallas to study engineering, but quickly changed to business. After graduation, he went to work for a Houston bank. The bank later went bust while Skilling was at Harvard Business School. Skilling said that fiasco made him determined to keep strict risk controls on Enron's trading business. He once told BusinessWeek that "I've never not been successful in business or work, ever." Skilling now declines to comment, but his brother Tom, a Chicago TV weatherman, says of him: "He's heartbroken over what's going on there. ... We were not raised to look on these kinds of things absent emotion." Enron's "intellectual capital" was Skilling's pride and joy. He recruited more than 250 newly minted MBAs each year from the nation's top business schools. Meteorologists and PhDs in math and economics helped analyze and model the vast amounts of data that Enron used in its trading operations. A forced ranking system weeded out the poor performers. "It was as competitive internally as it was externally," says one former executive. It was no surprise then that Skilling would turn to a bright young finance wizard, Fastow, to help him find capital for his
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/04/2011 for the course ECON 112 taught by Professor Mike during the Spring '11 term at Université de Liège.

Page1 / 2

HE - "HE'S HEARTBROKEN." No one ever disputed that Skilling...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online