Good morning, Whitewater.
We’ll have an even chance of snow showers today, on a day cloudy skies and a high of thirty-six. Sunrise is 7:07 and sunset 4:21, for 9h 14m 10s of daytime. The moon is a waning gibbous with 57.5% of its visible disk illuminated.
On this day in 2001, Enron files for bankruptcy. It wasn’t just any company – it was a fraud repeatedly and falsely touted by prominent officials as an innovation leader. Honest to goodness, marketing doesn’t make the man:
Enron Corporation (former New York Stock Exchange ticker symbol ENE) was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,000 staff and was one of the world’s major electricity, natural gas, communications, and pulp and paper companies, with claimed revenues of nearly $111 billion during 2000.[1]Fortune named Enron “America’s Most Innovative Company” for six consecutive years.
At the end of 2001, it was revealed that its reported financial condition was sustained substantially by an institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal. Enron has since become a well-known example of willful corporate fraud and corruption. The scandal also brought into question the accounting practices and activities of many corporations in the United States and was a factor in the enactment of the Sarbanes–Oxley Act of 2002. The scandal also affected the greater business world by causing the dissolution of the Arthur Andersen accounting firm.[2]
Enron filed for bankruptcy in the Southern District of New York in late 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel. It ended its bankruptcy during November 2004, pursuant to a court-approved plan of reorganization, after one of the most complex bankruptcy cases in U.S. history. A new board of directors changed the name of Enron toEnron Creditors Recovery Corp., and emphasized reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enron.[3] On September 7, 2006, Enron sold Prisma Energy International Inc., its last remaining business, to Ashmore Energy International Ltd. (now AEI).[4]
On this day in 1954, Wisconsin’s Sen. McCarthy fares poorly:
1954 – McCarthy Censured by Senate
On December 2, 1954, the United States Senate voted to censure Wisconsin Senator Joseph McCarthy. Declaring his behavior “contrary to senatorial traditions,” the 1954 Senate resolution officially condemned McCarthy…
Here’s the midweek game from Puzzability:
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This Week’s Game — November 30-December 4
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The Possessive Filmfest
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This week features some very personal movies. For each day, we’ll give you a series of clues, each of which leads to a word. You must drop one letter out of each of these answer words and put them together (in order), adding spaces as needed, to get the title of a movie that starts with a possessive first name.
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Example:
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Container for groceries / improved / out of danger / when dessert is served in a meal
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Answer:
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Babette’s Feast (bag / better / safe / last)
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What to Submit:
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Submit the movie’s title and the smaller words (as “Babette’s Feast (bag / better / safe / last)” in the example) for your answer.
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Wednesday, December 2
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