Vol 2 Chapter 629: Finally collapsed
Wall Street investment banks headed by Bear Stearns, Goldman Sachs, Merrill Lynch, Morgan Stanley, etc., are now like wolves with drooling eyes, staring at Enron and taking a bite anytime, anywhere.
Do not!
To be precise, a bunch of evil wolves are already in action!
The Gale Capital under Zhu Ke's name is also one of the new forces that will destroy Enron.
November 12.
Enron's stock price fell again, and when the stock market closed that day, only less than $11 remained.
Extremely tragic!
Compared with its stock price in early 2001, Enron's stock price was as high as 80 US dollars, even more than 90 US dollars, but in just ten months, the stock price suffered an avalanche decline. Not only that, Standard & Poor's, Moody's Investor Services, and Fitch Ratings Corporation, as the world's three major credit rating agencies, have lowered Enron's credit rating several times in the following period.
A+ credit rating?
That was Enron at the beginning of 2001.
Grade B is the credit rating of Enron when it bought in early November.
But what about now?
Enron, known as the world's sixth largest energy giant, had only only one credit rating on November 12.
Undoubtedly, this further pushed Enron into the abyss.
Kenneth Lay, the founder and former chairman of Enron, held a press conference since Enron exposed the time when a major false profit report was made, but the results were useless at all.
In the following days, he successively accepted interviews from many media.
He said: "Enron has encountered a problem, but we are confident to tide over the difficulties."
However, no one believes his remarks anymore!
On November 13, Enron's stock price continued to fall;
On November 14, Enron's stock price fell below the $10 mark for the first time!
Enron's single share price is only less than $10, which undoubtedly indicates that Enron is on the verge of bankruptcy.
"New Finance" published an article: "As we all know, Enron was once the world's sixth largest energy giant and one of the world's largest energy service providers. It has more than 3,000 subsidiaries worldwide and has been repeatedly recognized by Fortune. ", "New Finance" and other media rated as "blue chip stocks" and "innovative stocks"."
"Also, since 1997, Enron has been at the forefront of the top 500 American companies."
"The best result is to be ranked 7th among the top 500 Americans!"
"Only in the United States, Enron monopolizes more than 20% of the natural gas supply and 27% of the electricity supply. It is an out-and-out global energy giant."
"However, now... it's dying!"
An Ran really couldn't bear it anymore.
Since entering November, especially since the incident of major false profit reporting was exposed, in just a few days, Enron (Europe) branch announced the closure, and as many as 780 subsidiaries closed their doors.
In North America, more than 400 subsidiaries of Enron also closed down.
Thousands of subsidiaries under Enron closed down and their functions ceased, which undoubtedly brought great inconvenience to the lives of residents in many places.
"Damn Enron Company!"
"Its stock is about to fall to death for the time being, but it suddenly closed as many as thousands of subsidiaries, causing serious natural gas and electricity supply difficulties in many towns in our Texas."
"Now the local government has activated an emergency plan, but what's the use?"
"After night fell at 6 o'clock in the evening, the town I was in was completely plunged into darkness. The lively night market in the past is not visible at all."
The people are complaining.
However, the major investment banks on Wall Street, including Zhuke's Gale Capital, have all opened champagne to celebrate in the near future.
Make money!
In just a few days, Dafeng Capital once again took away hundreds of millions of dollars from Enron.
Bear Stearns, Merrill Lynch, Goldman Sachs, Morgan Stanley...
Which one is not full of profits?
Goldman Sachs: "Thanks Enron!"
Bear Stearns: "Thank you Kenneth Lay, if it weren't for this old boy to make a mistake, it would definitely not be easy for us to make such a large amount of money. The special investigation team, let's work harder."
Merrill Lynch: "Enron's current stock price is less than $10. Believe us, as long as we work hard, we can definitely turn it into a penny stock (less than $1/single share)."
The major investment banks on Wall Street are jubilant.
.......
There is a saying that goes well, titled: "Plans cannot keep up with changes, and surprises often come suddenly!"
November 15th.
At around 2 o'clock in the afternoon that day, the special investigation team once again exposed a major news.
"Since 1997, Enron has manipulated as many as 22 illegal insider trading, involving more than 1.39 billion U.S. dollars!"
As soon as the news came out, the outside world was shocked.
Zhu Ke said dumbfounded: "An Di, I remember the current global exposure of ‘illegal insider trading’ involving the highest amount of US$920 million."
"Ok!"
CEO Andy Chelop nodded heavily and said: "Undoubtedly, Enron has created another historical record."
MMP!
Enron would rather not have such a historical record.
Where is this honor?
Obviously it was engraved on the pillar of shame!
From the time the news was exposed at about 2 pm that day to the close of the stock market in the evening, in just a few hours, Enron's stock price fell extremely severely, almost cut in half.
Closing price: only 4.9 US dollars / single share.
boom!
Kenneth Lay, the founder and former chairman of Enron, stood up in his home and raged with anger. His whole person was like a wounded bull in anger.
"Asshole!"
"A bunch of **** bastards!"
"Before I kept saying that I was my best friend, now I am facing difficulties and I beg them, but they are better, and all of them shunned~"
He was really lost, he could only furious incompetently.
However, does he have any money?
Then he is indeed rich!
In the recent past, Kenneth Lay ranked 209th on the "Forbes" magazine's "Top 400 American Rich" list, with a total personal wealth of up to 580 million U.S. dollars.
But... how did this money come from?
At least more than half of Kenneth Lay’s huge personal wealth is obtained illegally. Together with Kisling and others, he emptied An Ran and fattened his own pockets.
......
Time is passing fast~
The dilemma encountered by Enron has not been alleviated ~www.wuxiaspot.com~ but has become more serious.
A piece of unfavorable news followed one after another.
As of today, that is, on November 30, Enron's stock price has dropped to US$0.24, and its market value has dropped from nearly US$100 billion at its peak to US$200 million.
$0.24/single share?
That's right, it's worse than the $0.26 per share in the original time and space. After all, Zhuke's gale capital is very powerful.
A large number of investors are eager to cry without tears.
Tears have already drained.
On December 2, Enron officially filed for bankruptcy protection in the bankruptcy court, becoming the second largest bankruptcy case in the history of the United States.
"" The first update is sent.
