25 Feb '11, 7am

13 Biggest Business Blunders Of All Time

13 Biggest Business Blunders Of All Time

The Enron name became such a dirty word, Houston’s MLB team, the Astros, changed their ballpark name from Enron Field to Minute Maid Park after the business scandal. Formerly one of the largest and most influential energy, commodities and services company in the world, the Texas-based company suffered a massive scandal that resulted in powerful executives going to jail and even dying as a result. Enron Finance Corp. CEO and eventual Enron CEO Jeffrey Skilling — who’s drudging through year five of a 24-year prison sentence — began exploiting the deregulated energy market in the 1990s and brought the company staggering profits, earning over $130 million himself in one year. But when he and other executives got into even shadier business — controlling the energy market in California to keep prices insufferably high — Enron ultimately fell to bankruptcy and a congressional inv...

Full article: http://www.youngupstarts.com/2011/02/25/13-biggest-busine...

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