He Called Every Bull And Bear Market In Crypto Since 2012 ... Here's What He Says Is Next

Juan Villaverde may be America's top crypto expert. According to Juan's timing model, we are entering what could be the biggest bull market in crypto's history. With America's first crypto president in office, it could be the biggest gains the market has ever seen. And one special coin could skyrocket.

Is Enron back? If it's a joke, some former employees aren't laughing

JUAN A. LOZANO
December 03, 2024

HOUSTON (AP) -- An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001.

If its return is comedic, some former employees who lost everything in Enron's collapse aren't laughing.

"It's a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?" said former Enron employee Diana Peters, who represented workers in the company's bankruptcy proceedings.

Here's what to know about the history of Enron and the purported effort to bring it back.

What happened at Enron?

Once the nation's seventh-largest company, Enron filed for bankruptcy protection on Dec. 2, 2001, after years of accounting tricks could no longer hide billions of dollars in debt or make failing ventures appear profitable. The energy company's collapse put more than 5,000 people out of work, wiped out more than $2 billion in employee pensions and rendered $60 billion in Enron stock worthless. Its aftershocks were felt throughout the energy sector.

Twenty-four Enron executives, including former CEO Jeffrey Skilling, were eventually convicted for their roles in the fraud. Enron founder Ken Lay's convictions were vacated after he died of heart disease following his 2006 trial.

Is Enron coming back?

On Monday -- the 23rd anniversary of the bankruptcy filing -- a company representing itself as Enron announced in a news release that it was relaunching as a "company dedicated to solving the global energy crisis." It also posted a video on social media, advertised on at least one Houston billboard and a took out a full-page ad in the Houston Chronicle

In the minute-long video that was full of generic corporate jargon, the company talks about "growth" and "rebirth." It ends with the words, "We're back. Can we talk?"

Enron's new website features a company store, where various items featuring the brand's tilted "E" logo are for sale, including a $118 hoodie.

In an email, company spokesperson Will Chabot said the new Enron was not doing any interviews yet, but that "We'll have more to share soon."

Signs point to the comeback being a joke.

In the "terms of use and conditions of sale" on the company's website, it says "the information on the website about Enron is First Amendment protected parody, represents performance art, and is for entertainment purposes only."

Documents filed with the U.S. Patent and Trademark Office show that College Company, an Arkansas-based LLC, owns the Enron trademark. The co-founder of College Company is Connor Gaydos, who helped create a joke conspiracy theory that claims all birds are actually surveillance drones for the government.

What do former Enron employees think of the company's return?

Peters said that since learning about the "relaunch" of Enron, she has spoken with several other former employees and they are also upset by it. She said the apparent stunt was "in poor taste."

"If it's a joke, it's rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees," Peters said.

Peters, who is 74 years old, said she is still working in information technology because "I lost everything in Enron, and so my Social Security doesn't always take care of things I need done."

"Enron's downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron's legacy was the employees in the trenches. Leave Enron buried," she said.

__

This story was corrected to fix the spelling of Ken Lay's first name, which had been misspelled "Key."

___

Follow Juan A. Lozano on X at https://x.com/juanlozano70

Continue Reading...

Popular

Billionaire Stanley Druckenmiller: Selling This AI Stock Was a 'Big Mistake'

Hedge fund manager Stanley Druckenmiller regrets the decision to sell his fund's stake in Nvidia.

SpaceX launches colossal Starship rocket and catches it for 2nd time with robotic arms

For the second time, used giant mechanical arms to catch its Starship rocket back at the pad minutes after liftoff Thursday.

The Stock Driving iGaming's Success - Ad

iGaming is thriving, with NJ hitting $2.4B in revenue. One company leads the pack with 20% retention rates, 60% growth, and expansion into new markets. Tight insider ownership make this stock a standout.

Two private lunar landers head toward the moon in a roundabout journey

CAPE CANAVERAL, Fla. (AP) — In a two-for-one moonshot, SpaceX launched a pair of lunar landers Wednesday for U.S. and looking to jumpstart business on .

Trump promotes new meme coin before taking office on pro-crypto agenda

President-elect Donald Trump has launched a new token that is soaring in value – and potentially boosting his net worth – just before his inauguration. It’s the latest norm-defying promotion by Trump, who has also helped sell branded gold and diamond-encrusted .

NJ iGaming Hits $2.4b--What's Next? - Ad

New Jersey's $2.4B iGaming milestone highlights an exploding market. One company, focused on VIP players, delivers $2.13 revenue per $1 spent, 20% retention rates, and 60% growth. With a tight share float and LatAm expansion, this stock is a rare gem.

Elon Musk's DOGE Co-Lead Vivek Ramaswamy Expected To Exit Trump Admin Task Force Amid Ohio Governorship Bid

Vivek Ramaswamy, co-leader of President-elect Donald Trump's Department of Government Efficiency, is expected to step down from his position, potentially complicating the administration's ambitious federal spending reduction goals.

Spain's leader wants the EU to 'make social media great again.' Here's how

DAVOS, Switzerland (AP) — Spanish Prime Minister is launching a crusade against what he sees as the downsides of .

Retirement Planning for 2025 -- Act Now! - Ad

Make sure your retirement strategy is in place before 2025 rolls in. Let Datalign Advisory help you take charge of your financial future and get your ducks in a row before the year's end.

Rashida Jones stepping down as MSNBC president on eve of Trump inauguration

MSNBC President Rashida Jones says she is stepping down after four years leading the liberal news network — an announcement thtat takes place on the eve of a second Trump administration and after changes in corporate ownership.

US lawsuit accuses Pepsi company of price discrimination that favored Walmart over smaller stores

The Federal Trade Commission sued on Friday, alleging that it has engaged in illegal price discrimination by giving unfair price advantages to one large retailer at the expense of other vendors and consumers.

FORGET Crypto, FORGET Stocks... Do THIS Instead... - Ad

With everyone scrambling for the next hot AI stock or cryptocurrency... One man is saying FORGET them all. Because his strategy could lead to bigger gains than you'd see from stocks, crypto or anything else you might be seeing. It's shown his readers gains of 85% in 14 days... 55% gains in 2 days... And even 222% in 8 days!

Can he do that? Lawyers and lawmakers debate if Trump has authority to suspend the US TikTok ban

On the eve of his inauguration, President Donald Trump said an executive order suspending would be among his . The social media platform and app's ardent users waited Monday evening to learn if he would follow through and if so, what the order might say.

Donald Trump And JD Vance's Official Portraits: Mugshot Meme Vs Smiling Boy Scout?

President-elect Donald Trump and his incoming VP JD Vance debuted their new presidential and vice presidential portraits last week and, well, they could not have been more different.

Get Your Retirement Plan in Shape in 2025 - Ad

The clock is ticking -- make the most of Q1 to set up a retirement plan that works for you. Datalign Advisory can help you get everything in order before tax time.

Progressives are frustrated by Biden's final-days warning of billionaire influence

NEW YORK (AP) — The Democratic Party's left wing has warned for decades that America is moving toward in which a handful of billionaires controls much of the nation's wealth and political power.

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

5 Defense Stocks to Buy for Trump 2.0

Trump plans to increase the defense budget by $50 billion, prioritizing areas like missile defense systems, autonomous drones, and cybersecurity. 5 companies to benefit are Huntington Ingalls, L3Harris, Lockheed Martin, General Dynamics, and Northrop Grumman.

Top 3 Industrials Stocks Which Could Rescue Your Portfolio This Month

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.

Critical Metals: The Linchpin of the Energy Transition - Ad

As EVs and AI take center stage, critical metals like copper, nickel, and PGMs are becoming the linchpin of clean energy and technological advances. One Canadian company's high-grade polymetallic discovery in Quebec is drawing comparisons to Russia's Norilsk Mine--one of the richest deposits globally. Backed by industry titans, this story is just beginning.

Mohamed El-Erian Warns Trump 2.0 Economic Agenda Could Struggle Due To Maxed-Out Credit Cards

Prominent economist Mohamed El-Erian cautioned that President Donald Trump's second-term economic initiatives could face significant challenges from persistent inflation and widening global growth disparities.

Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover

President Donald Trump named Mark Uyeda, a Republican member of the U.S. Securities and Exchange Commission (SEC), acting chair of the agency.

This Coin Could Surge Like Bitcoin Did Back in 2013... - Ad

A new coin is emerging in the crypto world. And investing in it now could end up like Bitcoin or Ethereum during their first bull runs.

Content creators respond to TikTok's uncertain future in the US

TikTok content creators who make a living promoting their businesses and personal brands on the app were afraid Sunday that they would have to find new ways to engage consumers and make money as the app's future in the United States remained uncertain.

He Called Bitcoin to $100k... Now He Says This Coin Is Next - Ad

Juan Villaverde may be America's top crypto expert. According to Juan's timing model, we are entering what could be the biggest bull market in crypto's history. With America's first crypto president in office, it could be the biggest gains the market has ever seen. And one special coin could skyrocket.

Poland's leader accuses Russia of planning acts of terror against 'airlines over the world'

WARSAW, Poland (AP) — Polish Prime Minister Donald Tusk accused Russia on Wednesday of planning acts of sabotage worldwide that included “acts of air terror” against airlines.

Crypto Stocks Surge Amid Market Boom - Ad

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Dating Coach Shares Why She Walked Away From a Deal With Mark Cuban

The CEO of online dating coaching company Dating by Blaine has detailed why she declined an offer from billionaire Mark Cuban after initially accepting the deal on "Shark Tank."

Get Your Retirement Plan in Shape in 2025 - Ad

The clock is ticking -- make the most of Q1 to set up a retirement plan that works for you. Datalign Advisory can help you get everything in order before tax time.

Cathie Wood's Ark Invest Is Betting Big On This AI Darling And No It's Not Nvidia

Ark Invest made significant trades involving Tempus AI, CRISPR Therapeutics, UiPath, Roblox, Reddit, Accolade, and Ibotta. ARKG and ARKK funds bought shares, while ARKW and ARKF funds sold shares.

Apple Eyes Barclays And Synchrony To Replace Goldman Sachs As Credit Card Partner: Report

Apple is exploring partnerships with Barclays and Synchrony to replace Goldman Sachs as its credit card partner as Goldman scales back its consumer finance ambitions.

Get Your Financial Strategy in Place for 2025 - Ad

There's still time to make smart financial moves as we enter a new year. Work with Datalign Advisory, a trusted partner who can help you optimize your plans and start 2025 on the right foot.

Stock market today: Asian stocks follow Wall Street's retreat, oil prices surge

HONG KONG (AP) — Asian stocks retreated on Monday after U.S. stocks fell as raised inflation worries.

Solar farms are booming in the US and putting thousands of hungry sheep to work

BUCKHOLTS, Texas (AP) — On rural Texas farmland, beneath hundreds of rows of solar panels, a troop of stocky sheep rummage through pasture, casually bumping into one another as they remain committed to a single task: chewing grass.

NJ's $2.4B iGaming Boom: One Stock to Watch - Ad

The iGaming market is rewriting the rules, with New Jersey hitting $2.4B in revenue last year. One company stands out, delivering $2.13 for every $1 spent and expanding into lucrative markets.

Carnival Corp's Private Island Strategy Poised For Significant Expansion, Says Analyst

Analyst Lizzie Dove from Goldman Sachs maintained a $35 target for Carnival Corp, citing the company's expanding private island strategy, focus on optimizing sales from existing ships, alongside a slower pace of newbuilds.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service