Thursday, 5 January 2017

EVENTS TIMELINE

1985 - Enron is formed, HNG CEO Kenneth Lay becomes CEO of the combined company the following year. 


"Lay: 1985 when i oversaw the merger between Houston Natural Gas and InterNorth to head of a new unnamed company" 
1989 - Enron begins trading natural gas commodities.
1990 - Lay hires Jeffrey Skilling to lead the company's effort to focus on commodities trading in the deregulated markets. Andrew S. Fastow is one of Skilling's first hires later that year.
"Fastow (to skilling): Andy Fastow, you hired me"
1991 - Richard Causey leaves Arthur Andersen LLP to join Enron as assistant controller.
1997 - Skilling named president and chief operating officer of Enron. Fastow creates Chewco, a partnership, to buy the University of California pension fund's stake in another joint venture dubbed JEDI, but Chewco doesn't meet requirements to be kept off Enron's balance sheet. First step toward similar financial moves to hide debt and inflate profits that fuel Enron's downfall.
"Lay: Today i am pleased to announce the appointment of Jeffrey Skilling to the post of President of the Enron corporation"
1998 - Fastow named finance chief.
"Lay: Young Andy Fastow? - Skilling: He's our new Chief Financial Officer"
1999- Causey named chief accounting officer. Fastow creates the first of two partnerships, LJM. Enron directors approve Fastow's plan that he run the partnerships that do deals with Enron while continuing as Enron's finance chief. Causey and former chief risk officer Rick Buy assigned to monitor such deals to protect Enron's interests.
"Fastow: LJM After my wife and kids Lea, Jeffrey and -"
"Ok?!"
2001: Aug. 14 - Skilling resigns; Lay named CEO again.
"News Reporters: In breaking news, enrons CEO has resigned. Now the market's left asking the same question it's famous for. WHY?"
Oct. 16 - Enron announces $638 million in third-quarter losses and a $1.2 billion reduction in shareholder equity stemming from writeoffs related to failed broadband and water trading ventures as well as unwinding of the Raptors.
"Employee: I can't see how it's possible at all"
"Fastow: It's sick"
Oct. 19 - Securities and Exchange Commission launches inquiry into Enron finances.
"Skilling: They have questions"



Oct. 24 - Fastow ousted.
"Fastow: As long as it don't make me look bad"
Dec. 2 - Enron goes bankrupt, thousands of workers laid off.
"News Report: Over twenty thousand people are reported to have lost their jobs"

2002: Jan. 9 - Justice Department confirms it has begun a criminal investigation of Enron. The company's auditor, Arthur Andersen LLP, says it has destroyed tons of Enron documents.

"Arthur Anderson: Except for the ones we SHREDDED"
Feb. 12 - Lay invokes Fifth Amendment at a Senate hearing after expressing "profound sadness" at Enron's collapse.
2006: Jul 6. Ken Lay dies.
"Lawyer: She died (wrinkly old bitch!)"
Dec. 13: Skilling begins his sentence.
"Skilling: I'm not a bad man, i'm not an unusual man, i just wanted to change the world"

I noticed that Lucy Prebble altered the sequence of events to benefit the drama of the narrative. She left out some of the big players of Enron to keep it simple and focus on the select few necessary for the story to happen. 

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