Power Failure

  • by MiMi Swartz, Sherron Watkins
  • Narrated by Karen White
  • 16 hrs and 38 mins
  • Unabridged Audiobook

Publisher's Summary

From inside the walls of Enron, a lone whistleblower attempted to avert the course of events leading to the largest bankruptcy in American history. On August 16, 2001, Sherron Watkins wrote an anonymous letter to Enron's Chairman, Ken Lay, laying out problems with Enron's use of partnerships to hide debt. She warned of a possible scandal that could topple the company if investors and the news media learned of the operations. Then, she revealed her identity and confronted Lay directly. Lay did nothing, and the scandal broke, sending Enron's stock price into the basement and wiping out the life savings of many thousands of people. Hear how Enron's culture of greed and the relentless cutting of moral corners led to the ultimate disaster, as told by an insider.

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What the Critics Say

"Paints the most detailed portrait yet of the company's ambitious executives and toxic culture." (BusinessWeek)

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Customer Reviews

Most Helpful

A Truly Compelling Look at Greed and Arrogance

This excellent, well-researched story lays out in great detail the little corruptions that turn into bigger corruptions, resulting ultimately in a sad story of staggering financial losses not by the fat cats that led Enron, but by their workers for whom Enron was a paycheck and a shot at a nice retirement, not a slot machine. The spirit of greed and arrogance that corrupted Lay, Skilling and Fastow, along with a host of Enron officers and the accountants and attorneys who were supposed to be providing adult supervision, should never be allowed to ressurect itself in Corporate America.
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- Kevin Christy

Absolutely Spellbinding.

OUTSTANDING. Incredibly well researched and solidly written in a way that informs, but doesn't financially overwhelm. I cannot recommend it highly enough and urge anyone interested in this story, to purchase it. You will find it enthralling, educational, unbelievable and plain addictive. It is brilliant.
Brian, I note that you gave the book just one star stating that it contained errors of fact.
Whilst I respect your viewpoint; unless you can actually back it up with fact, then your review that could have been really useful, is in fact, worthless.
If there are factual errors, tell us what they are. Are you talking about some major financial details being incorrectly reported? If so, what should they be and why.
For all we know, you might just be talking about that Ken Lay got for Christmas in 1981.
You clearly posted that the book has errors. If so:
1. What ARE the errors you are speaking of? If there are too many to list, just provide us with the top five mistakes, for example.
2. Tell us why you are correct in your views, and convince us to believe you by providing at least some basic factual back up and how the issue should have been reported.
3. Once I have this - I am listening big time.
4. What frustrates me is that you spend 3 minutes posting some flippant and unqualified statements which may have an impact on either its author reader. These feedback reviews are critical to most of us. Yes, it is our right to state our opinion (and thank goodness for it), but without a constructive and informed argument, your words are worse than useless; even if you have some valid points.
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- Claire

Book Details

  • Release Date: 07-28-2004
  • Publisher: Books on Tape