HOUSTON — A recent initiative to bring back Enron, the Houston-based energy corporation notorious for its scandalous corporate malpractice, has surfaced, seemingly as an elaborate form of parody. While this endeavor may be intended as humor, many former employees who endured significant losses from Enron’s downfall find little to laugh about.
Diana Peters, a former Enron worker who represented her colleagues during the company’s bankruptcy proceedings, expressed her disdain: “It’s a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?”
To understand the context, it’s essential to revisit the impactful history of Enron. Once ranked as the seventh-largest company in the U.S., Enron filed for bankruptcy on December 2, 2001. This move came after years of deceptive accounting practices could no longer mask the company’s mounting debt or portray its failing ventures as profitable. The collapse resulted in over 5,000 employees losing their jobs, more than $2 billion in employee pensions evaporating, and $60 billion in Enron stock becoming worthless, sending shockwaves through the energy industry.
Ultimately, 24 executives, including former CEO Jeffrey Skilling, faced criminal convictions stemming from their involvement in the fraud. Convictions against Enron’s founder, Ken Lay, were annulled following his death due to heart disease in 2006.
On the anniversary of its bankruptcy filing, a company claiming to be Enron announced a purported relaunch focused on tackling the global energy crisis. This announcement was made via a press release alongside a promotional social media video, billboards in Houston, and a full-page advertisement in the local newspaper.
The promotional video, filled with broad corporate buzzwords, spoke of “growth” and “rebirth,” concluding with a bold, “We’re back. Can we talk?” Additionally, the new Enron website features a company store with merchandise bearing the distinctive “E” logo, including items like a $118 hoodie.
Company spokesperson Will Chabot mentioned in an email that the new iteration of Enron wasn’t conducting interviews at the moment but promised more information would be released soon.
However, signs suggest that the initiative might be a mere joke. The “terms of use and conditions of sale” posted on the website clarify that the information regarding Enron is protected under the First Amendment, categorizing it as comedy and performance art intended for entertainment.
Moreover, filings with the U.S. Patent and Trademark Office reveal that an Arkansas-based LLC named College Company holds the Enron trademark. Connor Gaydos, co-founder of College Company, was also involved in creating a satirical conspiracy theory alleging that all birds function as government surveillance drones.
As for the reactions of former Enron employees, Peters noted that many of her ex-colleagues share her disapproval. To her, this apparent stunt has come across as “in poor taste.” She remarked, “If it’s a joke, it’s rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees.”
At 74, Peters continues to work in information technology, stating, “I lost everything in Enron, and so my Social Security doesn’t always take care of things I need done.” She lamented, “Enron’s downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron’s legacy was the employees in the trenches. Leave Enron buried.”