An elaborate parody seems to be behind an effort to resurrect Enron, the Houston-based power firm that exemplified the worst in American company fraud and greed after it went bankrupt in 2001.

If its return is comedic, some former staff who misplaced the whole lot in Enron’s collapse aren’t laughing.

“It’s a fairly sick joke and it disparages the folks that did work there. And why would you wish to even carry it again up once more?” stated former Enron worker Diana Peters, who represented employees within the firm’s chapter proceedings.

Right here’s what to know in regards to the historical past of Enron and the purported effort to carry it again.

What occurred at Enron?

As soon as the nation’s seventh-largest firm, Enron filed for chapter safety on Dec. 2, 2001, after years of accounting tips may not conceal billions of {dollars} in debt or make failing ventures seem worthwhile. The power firm’s collapse put greater than 5,000 folks out of labor, worn out greater than $2 billion in worker pensions and rendered $60 billion in Enron inventory nugatory. Its aftershocks have been felt all through the power sector.

Twenty-four Enron executives, together with former CEO Jeffrey Skilling, have been ultimately convicted for his or her roles within the fraud. Enron founder Key Lay’s convictions have been vacated after he died of coronary heart illness following his 2006 trial.

Is Enron coming again?

On Monday — the twenty third anniversary of the chapter submitting — an organization representing itself as Enron introduced in a information launch that it was relaunching as a “firm devoted to fixing the worldwide power disaster.” It additionally posted a video on social media, marketed on at the very least one Houston billboard and a took out a full-page advert within the Houston Chronicle

Within the minute-long video that was filled with generic company jargon, the corporate talks about “development” and “rebirth.” It ends with the phrases, “We’re again. Can we speak?”

Enron’s new web site options an organization retailer, the place varied gadgets that includes the model’s tilted “E” emblem are on the market, together with a $118 hoodie.

In an e-mail, firm spokesperson Will Chabot stated the brand new Enron was not doing any interviews but, however that “We’ll have extra to share quickly.”

Indicators level to the comeback being a joke.

Within the “phrases of use and situations of sale” on the corporate’s web site, it says “the data on the web site about Enron is First Modification protected parody, represents efficiency artwork, and is for leisure functions solely.”

Paperwork filed with the U.S. Patent and Trademark Workplace present that School Firm, an Arkansas-based LLC, owns the Enron trademark. The co-founder of School Firm is Connor Gaydos, who helped create a joke conspiracy idea that claims all birds are literally surveillance drones for the federal government.

What do former Enron staff consider the corporate’s return?

Peters stated that since studying in regards to the “relaunch” of Enron, she has spoken with a number of different former staff and they’re additionally upset by it. She stated the obvious stunt was “in poor style.”

“If it’s a joke, it’s impolite, extraordinarily impolite. And I hope that they understand it and apologize to all the Enron staff,” Peters stated.

Peters, who’s 74 years previous, stated she remains to be working in info know-how as a result of “I misplaced the whole lot in Enron, and so my Social Safety doesn’t all the time care for issues I would like carried out.”

“Enron’s downfall taught us essential classes about company ethics, accountability, and the results of unchecked ambition. Enron’s legacy was the staff within the trenches. Go away Enron buried,” she stated.

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Comply with Juan A. Lozano on X at https://x.com/juanlozano70