Enron Leads Pack With Dumbest Moments in Business | AccountingWEB

Enron Leads Pack With Dumbest Moments in Business

No doubt you have your own story about the dumbest thing that ever happened to you during your years in the business world. But can you top these? Earlier this Spring, Business 2.0 put together a list of the "101 Dumbest Moments in Business" (pre-WorldCom scandal, which surely would be added to the list).

In today's business climate, it seems like there's something new to add to this list nearly every day. So far, nearly 200 people have added their own "Dumbest Moments" and the list is growing. Feel free to add your own comments at the bottom of this story, or click over to the Business 2.0 story and post your experiences there.

Not surprisingly, the number one dumbest moment on the list is Enron's overstatement of earnings due to the hidden debt buried in off-the-book partnerships, all the while assuming they could get away with such shenanigans. Enron actually makes several appearances on the list, accompanied by the firm's now defunct auditor, Arthur Andersen LLP.

Reminiscent of candidates for the famous Darwin awards, those dubious honors bestowed on people who attempt to improve the worldwide gene pool by finding ways to foolishly remove themselves from it, executives at Burger King recently suffered severe burns after walking over hot coals while participating in a team-building workshop.

Or perhaps you heard about the Newspaper Association of America awarding Kmart its prestigious "Retailer of the Year" tribute - one day before Kmart filed for Chapter 11 bankruptcy protection.

If you've got time for a break, take a few minutes to relax and enjoy the blunders of others in the business world.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.