Since 1923 • For a greater Loyola

The Maroon

Since 1923 • For a greater Loyola

The Maroon

Since 1923 • For a greater Loyola

The Maroon

    Houston’s economy flushed by Enron

    Guest column

    When I came back from Houston to begin the spring semester, I was repeatedly asked about my break and how it went. Any hearing person on campus can tell you that I love Houston. But over the break, Enron turned Houston’s economic swimming pool into a toilet. I had hoped to have fun this winter, but there’s nothing fun about a toilet. During the past months, Enron has become a case study in bad management decision-making. Its executives’ decisions affected individuals, the Houston community and the nation – especially its economy. A share of Enron’s stock now sells for less than a bottle of water at the C-store, thanks to the company’s suicidal leap from $90 per share. But then again, there’s much to be said for distorted price-quality relationships at Loyola, especially when shopping at the C-store.Enron’s almost-obituary is one that’s making the front page of most major metropolitan newspapers with considerable regularity, as well as consuming entire sections of others, not to mention occupying guest columns in award-winning college publications. Much of what is being talked about in the national media has to do with the company not telling the whole story. A great example is what the company is saying and not saying when it describes its values. While taking a look at a few statements from that section of the company’s 2000 annual report, I decided to say what it could not.Enron on communication: “We believe that information is meant to move and that information moves people.”In this case, information moved people from their offices into the poor house. Not much else can be said for the housing market after many of Enron’s 21,000 employees have been forced to sell their homes, leading to a widespread drop in Houston-area property values.Enron on respect: “We treat others as we would like to be treated ourselves.”If that’s true, then Kenneth “Cash-Out” Lay should be getting a voice-mail message requesting that he gather his things and leave the building before the cleaning lady comes calling.The question is, will he be able to hear his voicemail over all that shredding?Enron on integrity: “We work with customers and prospects openly, honestly and sincerely.”The company will show you any documents it has. It’s not like it forgot to shred anything critical, excepting of course the memo mandating the shredding of anything with printing or writing on it. Hey, it even shredded on Christmas! Besides that memo, Enron did an excellent job.Enron on excellence: “We are satisfied with nothing less than the very best in everything we do.”When you do something, do it big. When you mess up, mess up big. Everything really is bigger in Texas. Texans are better than everyone at everything. There is definitely no denying that we have bigger mouths than anyone else. Just ask Enron.”We will continue to raise the bar for everyone. The great fun here will be for all of us to discover just how good we can really be.”Well, I don’t think too many companies can top Enron’s recent achievement. Only six companies were larger than Enron – before the layoffs, of course.There’s more to say, but would you be able to hear me over that immense flushing sound?

    Ravi Dubey is a management junior

    Leave a Comment
    More to Discover

    Comments (0)

    All The Maroon Picks Reader Picks Sort: Newest

    Your email address will not be published. Required fields are marked *