Comments on: The Smartest Guys in the Room http://www.canadiancapitalist.com/the-smartest-guys-in-the-room/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bear Stearns’ Cautionary Tale http://www.canadiancapitalist.com/the-smartest-guys-in-the-room/#comment-122134 Bear Stearns’ Cautionary Tale Tue, 18 Mar 2008 23:01:42 +0000 http://www.canadiancapitalist.com/2006/05/29/the-smartest-guys-in-the-room#comment-122134 [...] is a sad, if familiar tale. A storied, blue chip company collapses and tales emerge of employees whose life savings have been [...] [...] is a sad, if familiar tale. A storied, blue chip company collapses and tales emerge of employees whose life savings have been [...]

]]> By: Stephen http://www.canadiancapitalist.com/the-smartest-guys-in-the-room/#comment-3364 Stephen Wed, 31 May 2006 14:48:15 +0000 http://www.canadiancapitalist.com/2006/05/29/the-smartest-guys-in-the-room#comment-3364 Sean gave us a great link. The New Yorker article is bang on in regards to what happen at Enron and a lot of other companies who followed the "war for talent" mentality. In fact, just look at the the type of people they get for the Apprentice (I know not a great example)and then they promote this as a good example of what is considered "talent". Many oil and gas industry publications, such as the Oil and Gas Journal, had similar questions and the only answer they were given by Enron, was that this is the new economy and the old rules don't apply because the had "talented" staff. Needless, to say many people experience with the oil and gas industry gave a very very very large berth to Enron. It was all the institutional investers and people hyped up on the easy money in the stock market who got caught by the Enron fall. Only after the fall, did the oil and gas people step in to pick up excellent and profitable assets for fire-sale prices. Sean gave us a great link. The New Yorker article is bang on in regards to what happen at Enron and a lot of other companies who followed the “war for talent” mentality.

In fact, just look at the the type of people they get for the Apprentice (I know not a great example)and then they promote this as a good example of what is considered “talent”.

Many oil and gas industry publications, such as the Oil and Gas Journal, had similar questions and the only answer they were given by Enron, was that this is the new economy and the old rules don’t apply because the had “talented” staff.

Needless, to say many people experience with the oil and gas industry gave a very very very large berth to Enron. It was all the institutional investers and people hyped up on the easy money in the stock market who got caught by the Enron fall. Only after the fall, did the oil and gas people step in to pick up excellent and profitable assets for fire-sale prices.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/the-smartest-guys-in-the-room/#comment-3347 Canadian Capitalist Wed, 31 May 2006 02:32:47 +0000 http://www.canadiancapitalist.com/2006/05/29/the-smartest-guys-in-the-room#comment-3347 Sean: Thanks for the link. It was a fascinating article. Awardtour: I checked out the review. I am going to read the book The Conspiracy of Fools. Sean: Thanks for the link. It was a fascinating article.

Awardtour: I checked out the review. I am going to read the book The Conspiracy of Fools.

]]> By: awardtour http://www.canadiancapitalist.com/the-smartest-guys-in-the-room/#comment-3305 awardtour Tue, 30 May 2006 19:05:15 +0000 http://www.canadiancapitalist.com/2006/05/29/the-smartest-guys-in-the-room#comment-3305 I was just about to link to the exact same New Yorker article. Though I enjoyed the movie, I found the book gave a much better picture of how Enron was a "perfect storm" of insanity. The crazy hiring and review practices, astronomical operating costs, mark-to-market accounting, illegal trading, etc, etc, etc. But if you don't want to commit to a 400 page book about corporate foolishness, the movie does a good summary. I actually have a longer review of the book on my site: http://awardtour.net/archives/2006/03/07/enron/ I was just about to link to the exact same New Yorker article.

Though I enjoyed the movie, I found the book gave a much better picture of how Enron was a “perfect storm” of insanity. The crazy hiring and review practices, astronomical operating costs, mark-to-market accounting, illegal trading, etc, etc, etc.

But if you don’t want to commit to a 400 page book about corporate foolishness, the movie does a good summary.

I actually have a longer review of the book on my site: http://awardtour.net/archives/2006/03/07/enron/

]]> By: Sean http://www.canadiancapitalist.com/the-smartest-guys-in-the-room/#comment-3289 Sean Tue, 30 May 2006 12:17:04 +0000 http://www.canadiancapitalist.com/2006/05/29/the-smartest-guys-in-the-room#comment-3289 I saw it over the weekend, too, by coincidence. I though it was well done. The power and corruption of the energy traders really surprised me. You might also like http://www.newyorker.com/fact/content/?020722fa_fact It's partly about Enron's hiring practices, and mentions some key people from the movie (Pai) Sean I saw it over the weekend, too, by coincidence. I though it was well done. The power and corruption of the energy traders really surprised me.

You might also like

http://www.newyorker.com/fact/content/?020722fa_fact

It’s partly about Enron’s hiring practices, and mentions some key people from the movie (Pai)

Sean

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