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Lou Lung Pai (Chinese: 白露龍; pinyin: Bái Lòulóng) (born June 23, 1947) is a Chinese-American businessman and former Enron executive. He was CEO of Enron subsidiaries Enron Energy Services [5] and Enron Xcelerator, a venture capital division. [2] He left Enron with over $250 million.
Dec 2, 2021 · Lou Pai, ex-CEO of Enron Energy Services. Pai ran Enron’s retail energy unit, arriving at the company after stints at ConocoPhillips and DuPont. He left Enron six months before it collapsed in late 2001, pocketing more than $265 million from exercising Enron options and selling stock.
- What Happened?
- Lessons Learned
- Where Are They Now?
- The Bottom Line
The bankruptcy threw thousands at Enron out of work, and, worse yet, emptied the company’s pension fund—costing more than 20,000 employees their life savings. At the time, Enron’s $63.4 billion in assets was the largest U.S. bankruptcy case in history (later superseded by the 2002 bankruptcy filing by WorldCom). In addition to Enron’s own implosion...
Given the size of the $63.4 billion Enron bankruptcy at the end of 2001, and the subsequent larger WorldCom bankruptcy in 2002, Congress finally took notice and passed the Sarbanes-Oxley(nicknamed SOX) corporate governance legislation. The SOX lawwas designed to make it harder to mislead investors and regulators about corporate financial reporting....
The Enron accounting scandal was the culmination of years of fabricating financial reports, using third-party entities and special purpose vehicles, and misleading the Enron board and investors. The principal agents behind the fraud were all tried and convicted, but other important personalities were secondary actors. Below, we’ll run you through t...
To this day, Enron remains the poster child for accounting malfeasance. Not that the senior executives at the time minded much, as they were getting rich off of Enron stock, which was being propped up by those same accounting subterfuges. Hence the negative feedback loop of more accounting ruses leading to a higher stock price and more executive co...
May 17, 2006 · Lou Pai is the real mystery man in the Enron scandal. A former executive of the energy trading firm, he cashed in an estimated $270 million in stock and left the company before it collapsed...
- Madeleine Brand
May 9, 2006 · They included some of the more familiar names in the Enron scandal: Lou Pai, former head of Enron Energy Services; Greg Whalley, who ran the company's wholesale energy business; and David...
Dec 3, 2021 · It’s been 20 years, to the day, since Enron Corp. filed for bankruptcy, marking one of the most spectacular financial collapses in history and forever cementing its legacy as the poster child of...
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Mar 26, 2009 · March 26, 2009. I mentioned last week, after watching the excellent Enron documentary The Smartest Guys in the Room, that one of the questions it provokes is whatever became of Lou Pai. He is the...
