McLean talks about Enron experience
Bethany McLean, the Fortune writer who was one of the first business journalists to question the accounting at Enron, spoke Monday at Cleary University in Michigan, according to a story in the Livingston Press & Argus.
The story stated, “‘The surprising thing was most people didn’t really know,’ McLean said of Enron’s employees. ‘I think that tells the story of life in corporate America.’
“Few questioned how the company was making money, even when it appeared to be spending money in large amounts.
“For example, McLean said, in 1998, the company’s top 200 employees made up $193 million of the payroll. By 2000, that was up to $1.4 billion.
“Enron got away with so much for so long, McLean said, partly because people were intimidated by the intelligence of several company executives and, thus, were afraid or ashamed to ask questions.”
Read more here. McLean wrote a book with Fortune writer Peter Elkind about Enron called “The Smartest Guys in the Room.” It was later made into a movie.
