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(The Real Enron, 7) This hiding of assets allowed them to avoid taxation and overstate profit. When Enron's whole scandal came to light, it was revealed that Enron had lost $618 million in the third quarter of 2001 and would reduce their net worth by $1.2 billion. It was by December 2nd of the same year that Enron filed for bankruptcy leading to their ultimate demise. (Glater, C1)
The effects of Enron's fall hit its employees hard. Many of the employees of Enron had their own retirement money invested in the company. When Enron reduced its net worth in late 2001 the price of the stock hit the floor...
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