Instant Noodles Millionaire

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The posterity has always been very curious, so good Enron, why suddenly exploded?

So various versions of conspiracy theories were born. The most famous saying in later generations is that all these are the games of Great-Thousand. Great-Thousand learned of Enron’s problems in advance, and then took advantage of Kenneth’s best When I was proud, the vulnerability of Enron was released, which eventually caused the entire Enron to collapse, and by the way, Microsoft also collapsed.

This is a very popular saying in later generations, and it was once believed by many people, even the teaching materials in the university used this saying, until afterwards, Kenneth, who was over ninety years old, was finally released from prison and was swarmed. When interviewed by the media reporter, he finally told the truth about what happened back then.

It’s just that the truth sounds so funny.

Let’s call back some time to the few weeks when the credit card virus is raging.

At this time, Kenneth was excited to watch Microsoft’s share price continue to rise, and the various bad luck of Hongmeng system, so that Kenneth seemed to forget the system used by his own Enron company, which is also Hongmeng system.

Kenneth really shouldn’t forget this, because it was Kenneth’s approval to let Anron replace the Hongmeng system up and down.

As early as 1999, when Hongmeng system just announced its free launch, Kenneth approved Enron to replace the office system from windowssystem to Hongmeng system, and Enron was also the first energy company in the United States to make such a decision. .

The reason is simple, because Enron is out of money.

Since 1995, Enron has entered a loss-making situation. By 1999, the funds that Enron could actually use were almost exhausted. Enron could only rely on all kinds of storytelling and all kinds of false Financial reports and financial means are used to finance and maintain the company’s operations.

So, in order to allow Enron to save some expenses as much as possible, Kenneth approved the company’s proposal to replace most of the office systems with Hongmeng systems.

In this way, Enron will be able to save about 10 million US dollars in the genuine license fee for windows system, which is also a considerable amount of money.

Facts later proved that there was no problem with this decision. Hongmeng system could still be used, and it felt good to use. Even the overall office efficiency must be raised quite high, and Enron was very satisfied.

Of course, Kenneth won’t remember these things, as long as Hongmeng doesn’t have any problems.

But when the credit card virus was rampant, Enron, the company that used Hongmeng system, was also recruited.

According to the regulations of the Securities Regulatory Commission, all listed companies must publish their financial reports publicly every quarter. This is a compulsory course for all listed companies, and Enron is no exception. Their financial staff also prepared early. A carefully modified first quarter financial report.

Because these financial personnel have been fraudulent since 1995. By 2002, the fraud level had already been brought to the point of perfection. Even if the accounting firm of the industry’s cream of the crop, unless stared at this 24 hours a day A financial report, and at the same time collect correct data through your own means, then it is possible to find problems in the financial report.

But accounting firms obviously don’t do this, so in the eyes of Enron, this financial report is very safe.

This financial report is indeed very secure, provided that the carefully prepared financial report is handed in.

Three days before the deadline for submitting the financial report, the director of the financial department conducted a final review of the financial report, and then the financial report was encrypted and stored in his own computer. Then the financial officer received an email saying that , The financial controller has a problem with the credit card and asks him to download the statement for verification!

“There is a problem with my credit card impossible! I am afraid it was not issued by a fake bank!” This senior financial director is very confident in his financial ability. He never believes that there is a problem with his credit card, if there is a problem. , That’s also the bank’s problem.

So the chief financial officer planned to look at this statement, and then find the bank’s mistakes… and then there was no more, the computer went black and died, when he reinstalled the system to turn on the computer, All files in the hard disk have been deleted, including the financial statement.

This financial statement is the only financial statement of the entire Enron company.

Some people may wonder, how could a company as large as Enron have only one financial statement, and how could there be no backup?

Don’t say, this financial report really hasn’t been backed up yet, because there are too many secrets hidden in this report, and these secrets are enough for the chief financial officer to stay in jail for more than a dozen lifetimes.

He is not at ease with anyone, he only trusts himself, so the final version of the financial statement is only in the director’s personal computer, but absolutely did not expect that all these data were deleted.

The financial director was stupid on the spot, because if the financial statements cannot be turned in after three days, then Enron will be in big trouble.

Because according to the regulations of the Securities and Exchange Commission, if the financial statements are not submitted within the deadline, the Securities Regulatory Commission will intervene to investigate whether there are any tricks, whether it is because the financial data is abnormal and the financial statements cannot be submitted on time. .

This rule of submitting financial statements within a time limit is itself to restrict each listed company and prevent them from having sufficient time for financial fraud.

Of course, in the hands of some skilled experts, the time given by the Securities and Exchange Commission is enough for them to fake it.

But the chief financial officer also knows that once the Securities and Exchange Commission intervenes in an investigation, no matter how meticulous Enron’s methods are, there will be mistakes.

The best way is to submit financial statements on time, otherwise the Securities Exchange Commission will have an excuse to investigate Enron.

But the report has been deleted, what should I do?

After thinking about it, the chief financial officer felt that the only way was to create a new report in three days.

Although the original report took three months to complete, the three days are impossible.

But in fact, all the data needed for financial statements have been collected. Even if the director’s computer is gone, these data are still aggregated into the computers of each of his staff. Just collect the data.

As for how to use these data to make another report, it is even simpler, because the financial controller has already completed it once, and it is natural to do it again without any problems.

The price is that the director spent 65 hours without eating or drinking, making new statements without sleep, and finally before the deadline, handed the statements to the Securities and Exchange Commission.

Then Enron exploded.