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The Legacy of Arthur Andersen: A Model for Excellence by Francisco López, Carmelo Canales

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23. The End: Enron and Andersen’s Collapse

How things developed at Enron

Enron was the most admired company in the US in de 90s. From being an anonymous Texan gas pipeline network company it became the paradigm of innovation, creating new markets all over the US and in many other countries. The prestigious McKinsey consultancy set Enron as the example to follow; as the new business paradigm. Their top executives were those nearest to be “masters of the Universe”.

Andersen also counted Enron as example of one of its best clients.

This background helped much to give the executives and Enron itself an unassailable aura.

Its climb in the stock exchange was meteoric.

One of the keys for its fast growth was the application of very high doses of financial ...

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