See how gloomy the weather was? Hmpt! Weather was not cooperating. Another flash flood warning later in the day. But I was determined to check the city right after our class. Afraid to get caught by the heavy downpour, I scratched plans to take the transit and visit some of the places along the major streets.
I’ve been meaning to have a picture taken in front of these buildings. They’re now Chevron. That guy I was talking to last night at the gay bar told me that these two glass towers used to be the Enron Buildings. Imagine how many families they ruined. Millions of savings and retirements disappeared.
What’s Enron?
Enron was formed in 1985 by Ken Lay. Other big names were Jeffrey Skilling and Andrew Fastow and together with other executives misled Enron’s Board of Directors and even pressured Arthur Andersen to ignore some of their practices. That scandal led to the dissolution of Arthur Andersen which was one of the largest auditing firms in the world. What were they doing at Enron that led to their collapse? They were using accounting loopholes, special purpose entities and poor financial reporting that they were able to hide billions in debts from failed projects and deals. Many of their executives were sent to prison. Andrew Fastow’s 10 year sentence was reduced to 4 years for having given “exceptional” assistance to the prosecutors. Jeffrey Skilling was sentenced to 24 years. Ken Lay died of heart attack before he could be sentenced.
From a high of $90 per share in mid-2000, their stock price hit less than $1 in 2001 and when SEC began an investigation, Dynergy offered to purchase Enron at a fire sale price. That deal fell through and Enron filed for bankruptcy on December 2001. At $64 billion, it was the largest corporate bankruptcy – until Worldcomm filed bankruptcy the following year.
Epic greed of evil proportions.
It was hard for me to forget Enron. This was part of my Ethics Class at Temple U in Philadelphia. I was in business school at the height of the scandal. We even dramatized the scandal in class. We were grouped into several “actors”. Although I don’t remember now the craziness we did, it was hilarious!
I continued walking – no destination. Everything here is big. And wide. But I think, I like Chicago better. I was curious why there are not that many people in this part of the downtown.
I mean, where is everybody?! Around this time, in downtown Philadelphia? Traffic. Here? I guess you can take a nap in the middle of the street?
Entrance to a hotel.
See that? Houston, Texas is energy city, using solar energy to power parking meters. I’ve never seen this anywhere else!
I saw a New York Pizza place. Ordered a slice of pizza. Here’s what they gave me.
This is insane! This is already the full 9 yards!
Hmmn… 8lb sirlon would be the whole cow?!
Full plate of caesar’s salad would be the entire orchard?!
In fact, that night I ordered Mexican food, this is what they gave me. Probably making amends for all the hunger and starvation I suffered yesterday, I’m now drowning with food.
I head back to the hotel. I can feel the rain is coming, else I start melting.
See, this is the problem with the internet. What you see on the web are pretty nice pictures. That’s why I chose this hotel! Hmpt! In reality? Electric posts are in the middle of the sidewalk. It’s a nice hotel with some very friendly staff. But there are no restaurants around the area. While this is about 10-20 minute walk from downtown, past the expressways you see there, would I dare walk this distance at night?!
Hell no!
The first night, when I saw this parking sign – Two ($2) dollars?! Immediately, what came into my mind was – where in the world am I?!~!@#$!!
In Philly, $2 parking is near the border with Canada.
Downtown, the parking rates were $10. Conclusion? The area I was at, was the outlier.
The storm came that night. Unbelievable rain. Was going to meet up with Antonio at Tony’s. Opted out. Decided to finish the rest of my materials.
The following morning, it was time to leave.
I saw the cleaning lady on the 4th floor, at the other end of the floor, while I was waiting for the elevator. “You leaving now?” she asks. I said yes.
The elevator stopped on the 3rd floor.
Guess who entered.
The cleaning lady I saw on the 4th floor! What was that?! How in the world could she possibly be on the same elevator with me that fast – on the 3rd floor – when I saw her at the other end on the 4th floor and there’s only one elevator here! Chika ang babaeng to! I swear, that was one lightning speed meter dash to catch me on the elevator on the 3rd floor. For a minute, I got a shock there!
She uttered something, but I did not really understand since I have my headphones, listening to music. But I think I know exactly what’s going on here! I stared at her for a minute. If she could only read my mind hahaha! Leche ka hahaha! Natakot ako dun bigla ha?! And she was $miling. She probably has not seen what I left in my room.
Samuel came on time, the taxi driver. As we head to the airport, I noticed some of the streets were flooded and it was still raining.
I have to go through that body scan again. More radiation levels.
It was pretty quiet when I arrived.
This airport is pretty pampered.
Especially for someone flying cheap.
I was headed back to Charleston.
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{ 1 comment… read it below or add one }
si arthur andersen ba ang andersen consulting which became accenture now? wow as in wow…yun pala yun. the top 3 exec you mentioned, i heard those names from my tita. kawawa boss nila na expat whose retirement is in enron stocks. pero sila kasi local hires at BOT kaya di masyado affected…
[Reply]
reynz Reply:
February 20th, 2012 at 10:56 am
andersen consulting, sila yon. di ko alam na accenture na pala sila ngayon.
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