Enron, the notorious Texas energy company that collapsed after the largest corporate fraud in American history, resurfaced on Monday — as part of an elaborate prank by the brand’s new owner.
“We’re back. Can we talk?” A promotional video showing the Enron logo was shown Posted on x On the 23rd anniversary of the company filing for bankruptcy.
“In the modern world, you have to accept that change is the only constant. Learn to adapt. Sorry,” the video says. “To allow ourselves to create change in the world and within ourselves. We understand this better than anyone and we are here to lead by example.
The video – which featured a ballerina dancing on the beach, a boxer competing in the ring and a farmer working in the fields – turned out to be a parody backed by a T-shirt company.
trademark document show that an Arkansas-based LLC called The College Company purchased the Enron trademark for $275 in 2020.
College Company co-founder, Connor Gaydos, also created Birds Are Not Real with Peter McIndoe. The fake conspiracy theory suggests that the birds are drones created by the government as surveillance tools – a joke that pokes fun at conspiracy theories themselves, and Sells a lot of T-shirts branded “Birds Are Not Real” To Gen Zers.
CNN first reported New owners of Enron.
Enron did not comment on inquiries about its current owners, although the certificate of incorporation for Enron Corporation, obtained by The Post, was filed in Delaware earlier this year.
reddit user It was quick to speculate that the new Enron marketing efforts – including a billboard in Houston, Texas, where the parent company was headquartered – are headed for the Enron crypto token.
In a press release, the company hinted at its future involvement in cryptocurrencies, citing “permissionless innovation” as one of its key pillars going forward.
“Decentralized technology is moving forward and we will definitely have a role in it in the future,” the company said in a statement.
A banner running for seven days on the Enron website counted down the seconds to a “very special” announcement the following week.
For now, the plan is an elaborate prank to sell Enron-branded T-shirts, sweatshirts, “dad hats” and water bottles from the shiny new Enron website.
The new Enron is certainly paying attention to the scandalous history of the company’s name, which lists “repentance” as one of its core values.
“Admitting past mistakes and taking responsibility for them isn’t just for show – it reflects our commitment to ethical practices moving forward,” the company said.
Enron’s infamous collapse in 2001 led to executives including Kenneth Lay and Jeffrey Skilling being prosecuted for fraud-related crimes. An independent review published in 2002 revealed how he siphoned off millions from off-the-books schemes and lied to shareholders about company profits.
Le died of a heart attack in 2006 while he was awaiting sentencing. Skilling was released from federal custody in 2019 after serving 12 years in prison for conspiracy, insider trading, making false statements to auditors and securities fraud.
Enron had encouraged its employees to invest in the company’s shares just before the company’s stock declined, causing some employees to lose not only their jobs, but also their life savings. Workers later won $85 million in a class action settlement.
The troubles at Enron began in August 2001, when Sharon Watkins, then the company’s vice president, discovered an accounting scandal and told Lay, then Enron’s chief executive officer.
In October that year, Enron reported a massive third-quarter loss of $618 million and revealed that it had been overstating its earnings since 1997. Later that month, the company revealed that it was being investigated by the Securities and Exchange Commission.
The following month, the company announced a $9 billion acquisition by rival energy firm Dynegy. But weeks later, Dynegy said it had ended talks.
Enron filed for Chapter 11 bankruptcy protection at the end of the year and by January 2002, the U.S. Department of Justice had begun a criminal investigation into Enron’s death.
