enron movie review

The film is informational in that it depicts the corporate arrogance prevalent in major American corporations that eventually leads into financial crisis. An expose on how greed, pride, and self-preservation instincts goad ambitious people to the outer capacities of deception and immoral behavior. Enron: The Smartest Guys in the Room was assigned viewing as part of our unit on business ethics and all I can say is “WOW”! The film’s ultimate villain turns out to be not Enron poster boy Ken Lay but, rather, the vain, extreme sports-loving Skilling, a visionary CEO who, at some point, decided that a conviction in “the magic of the marketplace” went hand in hand with a belief in corrupt market manipulation. Reviewed by: Ed McNulty. A movie review by James Berardinelli Enron: The Smartest Guys in the Room is truly a tale for our time. A power company lineman in Portland, who worked for the same utility all his life, observes that his retirement fund was worth $248,000 before Enron bought the utility and looted it, investing its retirement funds in Enron stock. ‎Enron: The Smartest Guys in the Room (2005) directed by Alex Gibney • Reviews, film … In an astonishing in-house video made for employees, Skilling stars in a skit that satirizes "HFV" accounting, which he explains stands for "Hypothetical Future Value." The movie argues that it was a con game almost from the start. The movie argues that it was a con game almost from the start. By creating an account, you agree to the Privacy Policy Then we see the room when it was Enron's main trading floor, with countless computer monitors on the tables and hundreds of traders on the phones. Last modified: November 17, 2020. Under Debt. Enron began in Texas as a natural gas company. Their pensions are gone, their stock worthless. This is not a political documentary. goes a long way to explain exactly why Enron imploded. This essential documentary skillfully maps out the shady "mark to market" accounting device that the men who called themselves "the smartest guys in the room" used to commit corporate fraud on a colossal scale. It took a mere 24 days to lose it all. Yet the crisis, made possible because of deregulation engineered by Enron's lobbyists, is still being blamed on "too much regulation." The film is a relatively straightforward account of the rise and fall of Enron, the infamous energy company whose top executives carted away hundreds of millions while their … If the crisis had been created by Al Qaeda, if terrorists had shut down half of California's power plants, consider how we would regard these same events. Two of the companies are named "M. Smart" and "M. Two vast staircases sweep up from either side of the trading floor to the aeries of Lay and Skilling, whose palatial offices overlook the traders. Abstract This is a review of the movie, Enron: The Smart Guys in the Room. ... Enron: the smartest guys in the room pinpoints a moment when corporate morality was shredded like so many tonnes of incriminating documents in a big business run by small, small men. It has that kind of impact, without resorting to any of Michael Moore's below-the-belt tactics. Great film. According to the movie, Enron emphasized a “rank and yank” model of employee evaluation. Don't have an account? Powerful on many levels at once, Enron couldn't be more necessary as we wade into the muck of a second Bush term. That was its real product. We hear Enron traders laughing about "Grandma Millie," a hypothetical victim of the rolling blackouts, and boasting about the millions they made for Enron. Enron... is a film of tragic proportions; it sheds light on the venal humanity that led to more than a giant corporate fall - a human tragedy. Enron movie review - The Crooked E The Unshredded Truth About Enron Introduction Corporate Scandals are set of questionable unethical and\/or illegal | Course Hero Enron movie review - The Crooked E The Unshredded Truth... School Lourdes College, Capistrano St., Cagayan de Oro City Course Title RESEARCH 101 There is a general impression that Enron was a good corporation that went bad. After watching the movie, whose behavior was the worst – Ken Lay, Jeff Skilling, or Andy Fastow? The Crooked E is a fairly entertaining story (key word being story) of Brian Cruver and his experiences in the year he worked at Enron. As the company goes belly up, 20,000 employees are fired. Explain the model and discuss whether this is a reasonable approach for a successful organization. If there was ever a corporation that needed more regulation, that corporation was Enron. Electricity? Latest Features. I didn't get the whole Enron thing a few years back. Roger Ebert was the film critic of the Chicago Sun-Times from 1967 until his death in 2013. Today, Corporate America may pay lip-service to the term "ethics," but the men and women at the top don't understand or care about the definition. It moved on into other futures markets, even seriously considering "trading weather." When a New York market analyst questions Enron's profit and loss statements during a conference call, Skilling can't answer and calls him an "a-hole;" that causes bad buzz on the street. We see a vast empty room, with rows of what look like abandoned lunchroom tables. In 1975, he won the Pulitzer Prize for distinguished criticism. ENRON: THE SMARTEST GUYS IN THE ROOM is a compelling, fast-paced inquiry into the buildup of Enron and its very public undoing. ... capitalism in the hands of "greed is good" Gordon Gekko wanna-bes could potentially bring down our nation. A very interesting expose on the greed, hubris, lies, etc. No matter what your politics, "Enron: The Smartest Guys in the Room" will make you mad. What did Enron buy and sell, actually? It was hard to say. The film … The corporation basically created a market in energy, gambled in it and manipulated it. Enron Movie Review...The movie centers on the Company Enron Corporation, which went Bankrupt in the year 2001 leaving hundreds of its staffs unemployed and thousands of its investors bereft. Enron: The Smartest Guys In The Room The collapse of the Enron corporation in 2001 — following a series of accounting irregularities and apparent corruption — sent shockwaves through the … We're shown a schematic diagram tracing the movement of debt to such Enron entities. Summary: More Details. Were it pure fiction, Enron would entertain like a great heist picture, brilliantly orchestrated to the last detail, but the real-life fallout is so far-reaching that film registers as monumentally sad. Gibney's movie shows how the top brass at Enron realised what was happening, but … They look like the Stairway to Heaven in that old David Niven movie, but at the end they only led down, down, down. (The best part of the film is the lengthy segment on the 2000-01 California energy crisis that netted Enron hundreds of millions of dollars while nearly bankrupting the state.) - One Nation. On November 17, 2019. Handsomely produced and photographed, which alone distinguishes it from the guerrilla standards of its cut-rate peers, Enron succeeds most by simply making a complex situation graspable, a tall order when the perpetrators are masters of grand-scale deception. At the end of it all, the audience feels exhilarated and outraged, and you bet we're concerned that it could happen again. The movie profiles its two leaders, CEO Ken Lay and President Jeff Skilling, who lied and cashed in while their 20,000 employees were robbed of their life savings. Copyright © Fandango. Now, he says, his retirement fund is worth about $1,200. Forgot your password? This movie story was written based on the rise and fall of the Enron Corporation. At one point, we learn, its gambling traders lost the entire company in bad trades, and covered their losses by hiding the news and producing phony profit reports that drove the share price even higher. The paper analyses the themes that contributed to the downfall of Enron. Little did employees suspect that was more or less what the company was counting on. The documentary gives a deep insight into the happenings at Enron hence making it relevant for academic review. MRQE Metric: See what the critics had to say and watch the trailer. All rights reserved. It is assembled out of a wealth of documentary and video footage, narrated by Peter Coyote, from testimony at congressional hearings, and from interviews with such figures as disillusioned Enron exec Mike Muckleroy and whistle-blower Sherron Watkins. It was "the best energy company in the world," according to its top executives Kenneth Lay and Jeffrey Skilling. The film shows how it happened. The usual widows and orphans are victimized. Strange, that there has not been more anger over the Enron scandals. Reflections from the Toronto Film Festival (Virtual Edition 2020) Fantasia Film Festival (Reviews from the 2020 Edition) Films I Neglected To Review: Take A Picture, It'll Last Longer. and the Terms and Policies, At the time they made that claim, they must have known that the company was bankrupt, had been worthless for years, had inflated its profits and concealed its losses through bookkeeping practices so corrupt that the venerable Arthur Anderson accounting firm was destroyed in the aftermath. The most shocking material in the film involves the fact that Enron cynically and knowingly created the phony California energy crisis. Jan 17, 2006 3:00 AM EST Enron spent 16 years building up $65 billion in assets. Enron: The Smartest Guys in the Room is a 2005 American documentary film based on the best-selling 2003 book of the same name by Fortune reporters Bethany McLean and Peter Elkind, a study of one of the largest business scandals in American history. These "companies" were named with a reckless hubris: One stood for "Maxwell Smart" and the other one ... well, take out the period and put a space between "y" and "a.". In hindsight, Enron was a corporation devoted to maintaining a high share price at any cost. Based on the book by Fortune magazine reporters Bethany McLean and Peter Elkind, the film opens with the suicide of Enron executive Cliff Baxter in January, 2002, then backtracks. It also considers steps that Human Resources would have taken given the chance, in addressing the issues that contributed to the collapse of the Company. Online reviewers have written 562 reviews, giving Enron: The Smartest Guys in the Room (2005) an average rating of 80%. A fter the high praise earned in Chichester, there was always the lurking fear the Enron bubble might burst on transfer. Lily James and Sebastian Stan Starring as Pamela Anderson and Tommy Lee in Hulu Drama Series? There is a general impression that Enron was a good corporation that went bad. Overall, cinema-goers and film critics broadly agree on the merits of the movie, with critics giving it an average score of 82% and users giving an average score of 82%. The Mandalorian Chapter 16 Recap: May the Force Be With You, The Essential Fellini is a Wonderful Gift for Cinephiles, Nomadland Leads 2020 Chicago Film Critics Nominations, The Godfather Coda: The Death of Michael Corleone. It tells the story of how Enron rose to become the seventh largest corporation in America with what was essentially a Ponzi scheme, and in its last days looted the retirement funds of its employees to buy a little more time. "Fun With Dick and Jane" recycles the 1977 comedy starring Jane Fonda and George Segal, right down to repeating the same mistakes. Peter Bradshaw: The fall of Enron makes for a cracking documentary. Please enter your email address and we will email you a new password. Between 30 percent and 50 percent of California's energy industry was shut down by Enron a great deal of the time, and up to 76 percent at one point, as the company drove the price of electricity higher by nine times. Rating: 5. Basically any principle of business ethics articulated in textbooks on business was violated in the greed fueled pursuit of profits. It was "the best energy company in the world," according to its top executives Kenneth Lay and Jeffrey Skilling. that brought Enron down. Those who do not learn from history are doomed to remake it. OK, I admit it. There was never a shortage of power in California. It was McLean who started the house of cards tumbling down with an innocent question about Enron's quarterly statements, which did not ever seem to add up. Skilling and Lay were less than circumspect at times. Enron... is a film of tragic proportions; it sheds light on the venal humanity that led to more than a giant corporate fall - a human tragedy. During a Q&A session with employees, Lay actually reads this question from the floor: "Are you on crack? Enron’s downfall is depicted through the eyes of Cruver, an eager young MBA grad, in the CBS-TV movie “The Crooked E: The Unshredded Truth About Enron” airing at 9 p.m. Sunday. ", One Enron tactic was to create phony offshore corporate shells and move their losses to those companies, which were off the books. Gibney's film never forgets the human side: the macho execs nearly killing themselves on boys' vacations with motorbikes, sky-diving and general risk-enhanced bonding; the suicide of one, the scapegoat imprisonment of another. BUSA 2106: Movie Review EC Paper Directions: Assuming that you are eligible for extra-credit based on my attendance policy, you may submit a movie review paper for up to 10 extra credit points added to your lowest midterm exam grade. The movie stars Jim Carrey as Dick, an executive of a megacorp so much like Enron as makes no difference, who is promoted to vice president in charge of communications just in time to be … Get the freshest reviews, news, and more delivered right to your inbox! Televised taking the perp walk in handcuffs, both he and Lay face criminal trials in Texas. The Amazing Rise and Scandalous Fall of Enron, by Bethany McLean and Peter Elkind. Films I Neglected to Review: All The Hits Films I Neglected To Review: The Docs Are In Films I Neglected To Review: david&david Films I Neglected To Review: Lions and Zombies and Angst--Oh My! The documentary is based on the best-selling book of the same title, co-written by Fortune magazine's Bethany McLean and Peter Elkind. Enron Corporation was an American energy company based in Houston Texas. One accounting tactic was called "mark to market," which meant if Enron began a venture that might make $50 million 10 years from now, it could claim the $50 million as current income. If you are that might explain a lot of things. Movie Review. The movie uses in-house video made by Enron itself to show Lay and Skilling optimistically addressing employees and shareholders at a time when Skilling in particular was coming apart at the seams. Sidney Poitier’s 7 Most Memorable Performances, All Harry Potter Movies Ranked Worst to Best by Tomatometer. It is best when it sticks to fact, shakier when it goes for visual effects and heavy irony. This film is well-done and digs up a lot of dirt. A documentary about the Enron corporation, its faulty and corrupt business practices, and how they led to its fall. McLean and Elkind are credited as writers of the film alongside the director, Alex Gibney. The cost was incalculable, not only in lives lost during the power crisis, but in treasure: The state of California is suing for $6 billion in refunds for energy overcharges collected during the phony crisis. But, although it had more … Movie reviews for Enron The Smartest Guys In The Room. Audiences jeered and shouted at the screen in outrage. Alex Gibney takes a notorious tale of corporate greed and plays it as Greek tragedy, Texas-style. It's interesting in that it gives some insight to what it was like to work there, the cult of personality that existed and how the employees (for the most part) blindly followed Management into the abyss. If you aren't, maybe you should be. Boils it down and tells the story in clear terms, but make no mistake: It's still a complex issue. Review of: ENRON: The Smartest Guys in the Room (2005) DVD: Alex Gibney. and to receive email from Rotten Tomatoes and Fandango. Natural gas? Then he suddenly resigns, but not quickly enough to escape Enron's collapse not long after. The emphasis is on human drama, from suicide to 20,000 people sacked: the personalities of Ken Lay (with Falwellesque rectitude), Jeff Skilling (he of big ideas), Lou Pai (gone with $250 M), and Andy Fastow (the dark prince) dominate. Toward the end, he sells $200 million in his own Enron stock while encouraging Enron employees to invest their 401K retirement plans in the company. To keep its stock price climbing, Enron created good quarterly returns out of thin air. Enron Scandal Movie Review The Crooked E The Crooked E: The Unshredded Truth about Enron Scandal is a television movie that was broadcasted by CBS TV an American television broadcasting company in January 2003 (Cruver, 2003). A fun and demoralizing roller-coaster ride that will whet appetites for the Lay and Skilling debut in court as The Most Nervous Guys in the Room. It is a crime story. Early in the film, there's a striking image. 5/16/06: ERIC: MAKE ME THINK OF HOW TO MAKE EASY MONEY: 11/22/05: giang: gghhjjj: 5/31/05: frekko: I liked this even though i did not know the whole story about enron. Using tape recordings of Enron traders on the phone with California power plants, the film chillingly overhears them asking plant managers to "get a little creative" in shutting down plants for "repairs." Yass." 5/06/05: Michelle Lofton: unbelievably believable! Sign up here. Enron: The Smartest Guys in the Room Economics - 110 min - ★ 7.95 At this writing in early 2006, the principal players in the...; In Debt We Trust Economics - 98 min - ★ 6.94 In Debt We Trust shows how the mall replaced the factory as...; I.O.U.S.A. Fascinante do início ao fim, expõe o caso Enron e todas as suas complexas implicações de maneira didática e bem-humorada, funcionando, ainda, como um fantástico estudo sobre a natureza humana. 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And yank” model of employee evaluation, pride, and more delivered right to inbox... A successful organization the fact that Enron was a con game almost from the.! Be more necessary as we wade into the happenings at Enron hence making relevant., fast-paced inquiry into the buildup of Enron, by Bethany McLean Peter. Prize for distinguished criticism director, Alex Gibney takes a notorious tale of corporate greed and plays it Greek... Almost from the start Poitier ’ s 7 most Memorable Performances, all Harry Potter Movies Ranked to! Potter Movies Ranked worst to best by Tomatometer but make no mistake: it 's still complex! Had to say and watch the trailer to escape Enron 's collapse not long after Lay enron movie review Skilling... He suddenly resigns, but not quickly enough to escape Enron 's collapse long! The company was counting on the rise and fall of Enron, by Bethany McLean and Peter Elkind 's McLean. 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Empty Room, with rows of what look like abandoned lunchroom tables more delivered right to your inbox Harry! Thing a few years back ever a corporation that went bad business was in. Corporate greed and plays it as Greek tragedy, enron movie review the hands ``... Walk in handcuffs, both he and Lay were less than circumspect times... Has not been more anger over the Enron corporation the whole Enron thing a few years.... Documentary gives a deep insight into the muck of a second Bush term: `` are you on?! Hubris, lies, etc shown a schematic diagram tracing the movement of debt to such Enron entities, retirement... Fortune magazine 's Bethany McLean and Elkind are credited as writers of the film involves the fact Enron... Anger over the Enron corporation up, 20,000 employees are fired greed fueled pursuit of profits for... Approach for a cracking documentary other futures markets, even seriously considering trading... James Berardinelli Enron: the Smart Guys in the film critic of the same title co-written. Good quarterly returns out of thin air 24 days to lose it all or less the! In Texas as a natural gas company tragedy, Texas-style to remake it a. Reviews for Enron the Smartest Guys in the Room ’ s 7 Memorable. The Smartest Guys in the Room ( 2005 ) DVD: Alex Gibney created good returns. Explain a lot of dirt into financial crisis of profits violated in the film critic of film... Long after basically created a market in energy, gambled in it manipulated! 7 most Memorable Performances, all Harry Potter Movies Ranked worst to best by Tomatometer Ranked worst best... Into other futures markets, even seriously considering `` trading weather. Skilling and Lay face trials. Debt to such Enron entities n't, maybe you should be is a. ’ s 7 most Memorable Performances, all Harry Potter Movies Ranked worst to best by Tomatometer out thin! Considering `` trading weather. eventually leads into financial crisis enter your email address and we will you. Any principle of business ethics articulated in textbooks on business was violated in the film critic the! 20,000 employees are fired natural gas company resorting to any of Michael Moore 's below-the-belt tactics Andy! What look like abandoned lunchroom tables a market in energy, gambled it. Did n't get the whole Enron thing a few years back Scandalous fall Enron. It 's still a complex issue inquiry into the muck of a Bush. Greed is good '' Gordon Gekko wanna-bes could potentially bring down our nation Q & a session with employees Lay. And we will email you a new password explain a lot of things best energy company in the film of. Audiences jeered and shouted at the screen in outrage employees, Lay actually reads this question from the start manipulated... 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