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Front Page | In-depth | Business | The Enron affair |
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| November 2001: The final days Enron struggles to stay afloat and scrambles for a merger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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1 - 9 November: Despite the air of impending doom, Kenneth Lay found two banks willing to extend credit. But the worst of revelations was to come. On 8 November, the company took the highly unusual move of restating its profits for the past four years. It effectively admitted that it had inflated its profits by concealing debts in the complicated partnership arrangements. The following day, the humiliation of Enron appeared complete as it entered negotiations to be taken over by its much smaller rival, Dynegy. Click on the red dots on the graph for more detail. |
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