of 2002, the American energy company Enron, which was in fact a trade group that broke with a huge bang. Supposedly completely unexpected, it was then called. Similarly, it was in 2008 with Lehman Brothers, etc. At that time I wrote about the case following Enron Essay:
Enron - the game is over, but 500 CEOs [1] dance of the world continue on the nose
I believe in God and "free markets, declaimed Kenneth Lay, CEO of the American energy company Enron seconded, on 2.2.2001, and his predecessor, Jeff Skilling." We have the angels on our side, "The American journalist Tom Frank analyzed in Le Monde diplomatique (appendix to taz 02.15.2002) the religious aspects of the largest bankruptcy in American history.
like a sparkling wine guru had Lay understood it, all over the world, a community of powerful, he blindly devoted followers to rally around him, no ridiculous dreamer, but only hard men of power, ruthless "political realists," "experts," "editors." These people were so powerful that they government, legislation, case law and public opinion, all four public authorities of several countries including the United States, Britain and India, could manipulate the purposes of their guru. have
In the large Hi Enronisten the privatization and "deregulation" former public services are run: the energy and water supply. They were not tired, hinauszuposaunen its always the same message of salvation to the world: Only totally free, to no law and law-bound entrepreneurs are able to provide people with what they need. Obedient abolished all the American states "inhibiting" rules and official controls. The result was as disastrous blackouts and soaring electricity prices in California. Only in Los Angeles, prices remained stable, because the city had one of the few opposed the enronistischen steamroller and their local electricity supply . Keep
could
The result is impressive: In 2001, Lay put a bonus payment of $ 142 million in his pocket and was able to enjoy the feeling of being one of the most powerful men in the world. Newspapers and magazines put Skilling and Lay on the cover [2], and books have been sold worldwide for the purposes of worship [3]. Six times in a row Enron of American journals to the "most innovative company in the U.S." is selected. Lay disappeared in early 2002 with his millions, leaving a huge bankruptcy behind. 22,000 workers and employees lost their jobs and most of their private pension, because that was - really cool as it orders the Zeitgeist - invested in Enron stock. Lay sold his shares in time and the proceeds is unknown. The coup can only recommend the crooks in the world to follow. But I have one request: Destroy it, the personal assets of the following seven glorious preacher of random entrepreneurship: Guido Westerwelle, Jürgen Möllemann, Edmund Stoiber, Wolfgang Clement, Helmut Markwort, Josef Joffe and Günther Jauch!
With Westerwelle is the light in Germany.
The relationship is simple: inhibition and unscrupulous private entrepreneurs such as Lay dismissed as many staff as possible. Reserves for emergencies should be abolished. Falls somewhere in a big line or a power station, nobody left who could intervene, and is often a chain reaction resulting in: Other cables are overloaded and fail also, there is a black-out, for hours of large-scale power outage.
This phenomenon is still unknown in Germany, fortunately, because Germany is still an "over-regulated" country - Ugh! - 'Mentality: rules of all kinds to ensure that, for example, the secure national supply of energy and clean water takes precedence over the pursuit of profit for shareholders and the omnipotence of the CEOs. But the above Magnificent Seven and many others are working on the black-out, the rule of stupidity, and finally to establish itself in Germany.
The players and their dollhouse
Kenneth Lay has given the term "global player" new color and disfigured him recognizable. The fact that Enron has acted with not real gift - neither with tubes or with cables or with gas or electricity - but with abstract contracts, derivatives, options, conditions, etc., was from the financial press celebrated again and again as a particularly brilliant and timely. On the edge of the Enron scandal came out now that the Enron regularly arriving Wall Street analysts with a perfect backdrop has fooled: Whenever the men were in the house, people flocked to an otherwise empty room, threw on the computer, ran to and fro frantically, on the phone with other colleagues and simulated any mysterious business. The abstract concept, negotiated with Enron was, literally nothing. The fact that Enron was still a few years expel fat profits, was probably first in a well-oiled pyramid scheme, later known, was hurried along with massive accounting fraud. Enron was a fake.
So, people, has warned: The Global players mean it with the game! They play with us and the world, and the whole organization so that it personal for them ever profits are only nice, but never evil consequences. The need to pay for them. Not
Money makes the world Schrempp makes the world
Is it really the "terror of the economy," the rule us, as Viviane Forrestier wrote? Governance, economic constraints, the economic interests of large corporations? If you go into detail, is doubtful.
What did Paul High Scherf from Cologne engineering group Kloeckner-Humboldt-Deutz (KHD) in 1990 forced to sell in Saudi Arabia, a cement factory at a time at prices and conditions that could never meet KHD? Quite simply his personal desire for money and power, he was a few years until the thing blew up in 1995, the big boss, the artist who brought the pure fat contracts and to which the whole group looked up reverently. Then he disappeared, the group slid just past the bankruptcy and closed several plants, dismissed thousands of people into unemployment.
Driven by the then Bavarian Minister Edmund Stoiber, Bavarian state government increased the half-Housing and Urban Development Society (LWS) for 1995 in the property development business. Finance Minister Georg von Waldenfels warned, was right: the lumbar spine made to major projects sometimes just 500 million DM loss. When the scandal broke in 1999, dismissed Stoiber, now Prime Minister, as the scapegoat then Justice Minister Alfred Sauter, previously chairman of the lumbar spine. By April 2001, established a committee of the Bavarian state parliament that Sauter "the most innocent had been" of the guilty, the SPD deputy Gantzer. [4] was guilty after assessment of the SPD have been especially Stoiber, who is with the bold actions against wanted to have his rival Waldenfels, when it came to who the new prime minister is. Stoiber's statement was caught on: Make something great, and it was the nonsense, then you will be the greatest.
's powered Jürgen Schrempp, Daimler merger and although the Chrysler Group fell to its worst crisis yet, [5] but they multiplied and made Schrempp Schrempp's salary to one of the world's largest market princes on both sides of the Atlantic.
CEOs need an environment willing executioner, especially in the public interest bodies. As the Enron leaders have organized this, Tom Frank has researched: Wendy Gramm, wife of the major U.S. Senator Phil Gramm, was sitting in a Commission on the Limitation of commodity futures. They asserted that Enron did not have to abide by the rules adopted in 1993, the thanks they got a well-paid positions in Enron's board. Lord John Wakenham, a British Conservative, sat down massive for the privatization of British power stations and for the commencement of Enron in the British water management, after which he became a member of Enron's board. Alongside those sponsored Enron in 1998 Labour Party conference, the absegnete including the privatization of parts of the British school system.
Frank Wisner, U.S. Ambassador to India, concerned Enron in the mid 90s, the 3-billion-.- $ contract to build the hydroelectric plant of Dabhol. Solid As the affected population to environmental degradation, land loss and excessive electricity charges and protested the Indian government was considering an exit, there it was again the brave Frank Wisner, who drove the government with massive threats back to the Enron-track. After retiring from the diplomatic service, he was Supervisory Board at Enron.
Until recently, the investment banks, including JP Morgan and the German Bank, Enron's tour covered to hide any losses in obscure subsidiaries. As the well-known Wall Street analyst Daniel Scotto warned in August 2001 as the first in its industry before buying Enron stock, he was immediately dismissed. Its success effectively colleagues voted in November, three days before the announcement of the bankruptcy, with six to one to buy or hold the paper lies [6].
you always talk so much about the natural selfishness of the people, the preachers of big business. Take it easy at his word! Schrempp what drives them to to swallow a U.S. company, is his own personal egotism: his desire to have more money and still have more power. There are no anonymous systems, no inscrutable constraints that dominate us, there are very specific small people with their very small specific needs. Juergen Schrempp and his banal interest to be the man who steals the show - this Schrempp rules the world, as long as we let him.
Because these people between work are reckless and irresponsible because as children playing, so their lies singers sing the song with such fervor of self-responsibility. But this song gets more sense if one takes seriously: They sing us about self-responsibility, because their masters are the last ones who would take any responsibility for our destiny. We can however, sing the old phrase, "It saves us not being höh'res / no God, no Emperor or tribune, / to save us from misery, / we can only do for yourself," Or, in Literature. Without "you enough's for us already, "
Toni Kalverbenden, March 2002
Notes and Sources:
[1] Chief Executive Officers, literally, CEO
[2] Business 2.0, Sept. 2001
[3] Gary Hamel: Leading the Revolution (German ed. The revolutionary company who breaks rules: wins Munich 2001, Econ.)
[4] FR 04/04/2001
[5] The net loss for the Group for 2001 was the beginning of 2002 to approx. Estimated € 700 million. This contributed to official figures, a 1.4 billion € expensive reconstruction program that was recorded in the annual report under "one-off effects" [presumably the internal changes after the merger], "the global economic slowdown as well as" the tough competition in North America. taz 02.07.2002 (na)
[6] Handelsblatt, 19.02.2002, Financial Times Germany, 21.03.2002, quoted. to C. Schuhler: Enron. Collapse of Wall Street and Washington. isw-special No. 16, p. 4f
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