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EnronBlack GoldP2P - Essay Example

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This is a documentary film that is based on the book "The Smartest Guys in the Room". Basically, it dramatizes the rise and fall of Enron. It is quite entertaining due to smart use of storytelling devices, imagery and soundtrack. …
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EnronBlack GoldP2P
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Download file to see previous pages This is a documentary film that is based on the book "The Smartest Guys in the Room". Basically, it dramatizes the rise and fall of Enron. It is quite entertaining due to smart use of storytelling devices, imagery and soundtrack. In fact, it is amazing to look on leading role played by banks, financial media, accounting firms and government. The film Enron is weak on clearing up how the company brought up its image from a simple gas pipeline business to a post-modern corporate megalith. One of the most important things regarding the film's strength is in its representation of the massive group thinking within and outside of the corporation that helped enormously to support the rise in Enron's. The film, explains how the earning loads of money by exploiting commodities trading and accounting methods at the same time how it is losing plenty of money in real world undertakings. In fact the film portraits beautifully and makes it understandable even for a lay man how Enron set up its first commodities trading desk to take advantage of on inside knowledge of the gas business, and then tried to implement the same model with water, broadband, electricity, etc. In reality as a trading firm, Enron avoided investment firm policy by portraying itself as an industrial firm. The films dramatization of Enron's role and the political manipulations behind the California energy-crisis is well portrayed.In fact through the film there is great deal of emphasis given on the fact that this can happen again. It has happened before for instance in the cases of leveraged buyouts, the Savings and Loan crisis, the burst Internet IPO bubble, the 1920s Stock Market crash etc and it can happen again in future. It can be said that Enron, the film, is a lesson on how one corporation recently stole from investors, employees and its "customers" (Independent Lens). Additionally, as an investigation of corruption in corporate sector the film gives a sensible look at the culture and the intrinsic problems within the companies. The movie provides a few mechanisms such as the vitality curve and the Milgram experiment. This is especially for attractive an immensely immoral and profit-driven corporate culture.
In fact the vitality curve represents the idea of invariable contest in the work place. To be more specific the individuals are ambitious to compete with each other because wherever possible the employees who are not performing will be thrown out of the company at any moment. In the film it is clearly shown how Enron constantly hired new staff just because of the reason that even with high profits it was firing people for production of less than 1000 times what they were being paid. Therefore the environment was such that it caused people to not only ignore the law, but also to take action competitively in breaking the law.
This film clearly shows that how the top officials of the company and the government play a role in bringing in an energy crisis in the state of California. In the film it is shown that the Enron employees makes plan for the transfer of electricity from the state of California into nodes in other states where there was a surplus and was not required at all. California had signed legislation allowing for a free market in energy and as an answer to this, Enron shaped a demand by causing blackouts across the state. As soon as this happened the price of electricity increased drastically, and Enron made billions and billons of dollars in profits to ship back the energy they took out of California back into California.
Breaking laws and doing illegal acts were encouraged in Enron. With a goal derived from the hunt of profit, Enron employees were always asked to break laws or perform acts that could be considered immoral. In fact it was seen that none of the Enron employees ever came forward to report the corruption. The factor that unavoidably led to people coming forward was a "sinking ship" feeling, resulting in some of the Enron executives ...Download file to see next pagesRead More
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