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ENRON - the “I” that appears, and disappears.

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(This is a continuation from Manuel's

original ANetOfJewels, before it was

restructured.)

 

 

 

Report: Enron Designed Fake Trading Floor

 

Former Employee Claims No Trades Transpired

Posted: 1:22 p.m. CST February 22, 2002

Updated: 2:41 p.m. CST February 22, 2002

 

HOUSTON -- The bankrupt energy giant, Enron Corp., designed

and maintained a fake trading floor at its Houston office.

 

According to former Enron employees, on the sixth floor of the

company's downtown headquarters was a set, designed to trick

analysts into believing business was booming.

 

" It was an elaborate Hollywood production that we went through

every year when the analysts were going to be there to be

impress them to make our stock go up, " former employee Carol

Elkin said.

 

Elkin worked for Enron for five years as an energy analyst. She

was once even commended by then-Chief Executive Officer

Jeffrey Skilling.

 

Elkin said that the phony trading room was staffed by her and

other employees to resemble a real trading operation.

 

" They would build out the sixth floor of 1000 Smith in what I

called a Hollywood set, " Elkin said. " They would build out a set

with a big, 36-inch flat panel screens and the teleconference

conference rooms. "

 

Elkin said that it was all an act, and that no trades were actually

made there. The people on the phones were talking to each

other.

 

" They would ask us to go alternately, in like hour shifts down to

the sixth floor, " Elkin said. " And sit and pretend that we lived and

worked there. "

 

Elkin said that it fit the company's culture that Enron couldn't just

be a good company -- it had to appear at least, to be the best,

even if the truth was all smoke and mirrors.

 

" It was absurd that we were doing this, " Elkin said. " But to me the

most absurd part was that it worked. "

 

Elkin is now one of many employees that are suing Enron,

hoping to recover 401k savings that were lost when the company

collapsed.

 

Enron did not comment about the fake trading room.

 

 

Copyright 2002 by Click2Houston.com. All rights reserved. This

material may not be published, broadcast, rewritten or

redistributed.

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