Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron 
asked by perfectstorm on November 4, 2006 4:31 AM
Like its subject, The Smartest Guys in the Room is ambitious, grand in scope, and ruthless in its dealings. Unlike Enron, the Texas-based energy giant that has come to represent the post-millennium collapse of 1990s go-go corporate culture, it's also ultimately successful. Penned by Fortune scribes Bethany McLean and Peter Elkind, the 400-page-plus chronicle of the scandal digs deep inside the numbers while, wisely, maintaining focus on the "smart guys" deep-frying the books. The likes of paternal but disengaged CEO Ken Lay (dubbed "Kenny Boy" by George W. Bush, one of many prominent public figures with whom he rubbed shoulders), cutthroat man-behind-the-curtain Jeff Skilling, and ethically blind numbers whiz Andy Fastow vividly come to life as they make a mockery of conventional accounting practices and grow increasingly arrogant and bind to their collective hubris. They're not a likable lot, and the writers find it difficult to suppress their astonishment and revulsion with the crew who rapidly went from golden boys and girls of the financial world to pariahs when the bill finally came due. The authors' unrepressed sarcasms are more than often unnecessarily given the scope of the outrage. Enron's leading lights were or a time celebrated for their ability to concoct nearly unfathomable business schemes to hide mounting shortfalls and keeping track on their machinations can be a chore, but, by sticking hard to the story behind the fall, McLean and Elkind have reported and written the definitive account of the Enron debacle. --Steven Stolder
Reviews
0%
0%
The authors of this book have done an outstanding job of telling you of
the meotoric rise and crushing fall of Enron.You are taken to the humble
beginnings of this company.This company rose to become one of the biggest
corporations in America.At the height of their influence they had the
revered status ad the seventh largest company in the United States.This company was the toast of Houston,Texas.The CEO and founder of Enron,Ken
was one of the most admired and beloved figures in Houston.He wore the
title of Mr. Houston.
All of that came crashing down.After some disastrous projects the company had to declare bankruptcy.It was later discovered that some of
these disasters were hidden by creative accounting.Arthur Andersen,the
largest accountin firm in America had to close their doors over this
situation.Enron employees and retirees lost everything that they had
because of the crash of the company.
This book also gives you some excellent background on the employees and
officials of Enron who helped bring about the crash.Ken Lay,Jeff Skilling,
and Andrew Fastow are given attention.Many of these people testified
against Lay and Skilling when they were recently tried.
This is a very good book about the disaster known as Enron.Be sure to read it.
the meotoric rise and crushing fall of Enron.You are taken to the humble
beginnings of this company.This company rose to become one of the biggest
corporations in America.At the height of their influence they had the
revered status ad the seventh largest company in the United States.This company was the toast of Houston,Texas.The CEO and founder of Enron,Ken
was one of the most admired and beloved figures in Houston.He wore the
title of Mr. Houston.
All of that came crashing down.After some disastrous projects the company had to declare bankruptcy.It was later discovered that some of
these disasters were hidden by creative accounting.Arthur Andersen,the
largest accountin firm in America had to close their doors over this
situation.Enron employees and retirees lost everything that they had
because of the crash of the company.
This book also gives you some excellent background on the employees and
officials of Enron who helped bring about the crash.Ken Lay,Jeff Skilling,
and Andrew Fastow are given attention.Many of these people testified
against Lay and Skilling when they were recently tried.
This is a very good book about the disaster known as Enron.Be sure to read it.
reviewed by guitarplayer on November 18, 2006 12:55 AM
0%
0%
If you are intrigued about "what really happened at Enron" and "were they evil or just stupid", there is no better source than this. The authors not only manage to track the extensive history through the lives of various characters, they also manage to explain some difficult business concepts lucidly and to maintain a consistent voice of reason (rather than bias - which is as easy when you talk about scum like Farlow or Skilling as this!).
I would rate this book higher than "The den of thieves", "Liar's poker", or "Barbarians at the gates" - each of which is an all time classic in the genre.
It is through gems and authors like this that Fortune continues to be a great magazine. Hope they can do it more often that they already do.
I wish authors of a similar calibre and diligence can write a book on the Bush Administration and the single-handed destruction of human lives, safety of the planet, and international law. One can find many parallels with Enron about misplaced sense of power, self-worship, arrogance, and basic lack of morals - no wonder some of them were back-slapping buddies. Kenny Boy, indeed! Sadly, this bunch won't be sentenced and no cost can be recovered that people of this world already have paid, some with their lives.
I would rate this book higher than "The den of thieves", "Liar's poker", or "Barbarians at the gates" - each of which is an all time classic in the genre.
It is through gems and authors like this that Fortune continues to be a great magazine. Hope they can do it more often that they already do.
I wish authors of a similar calibre and diligence can write a book on the Bush Administration and the single-handed destruction of human lives, safety of the planet, and international law. One can find many parallels with Enron about misplaced sense of power, self-worship, arrogance, and basic lack of morals - no wonder some of them were back-slapping buddies. Kenny Boy, indeed! Sadly, this bunch won't be sentenced and no cost can be recovered that people of this world already have paid, some with their lives.
reviewed by literary on November 25, 2006 5:24 PM