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Book Title: Conspiracy of Fools: A True Story|
The author of the book: Kurt Eichenwald
Edition: Broadway Books
Date of issue: December 27th 2005
ISBN 13: 9780767911795
Format files: PDF
The size of the: 6.22 MB
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Reader ratings: 3.5
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Would YOU like to cause the biggest bankruptcy in American history? Sure you would! Well, Enron has already gone kablooey, losing billions of dollars, throwing more than 20,000 people out of work, and contributing to at least one suicide. But you can use the Enron approach to management at your company by following these easy rules.
* Don't keep track of how much money is coming in.
* Don't keep track of when your bills are due. Petty details are boooooriiiiing.
* Reward people for getting a deal done.
* Don't reward people for getting a power plant built or for doing anything else that leads to actual, physical changes in the real world. Focus on the numbers that are on the paper.
* When you make a deal, take credit for all the earnings that year, even if the deal is supposed to last 20 years.
* When the deals don't make as much money as you thought they would, make secret deals to pump up the balance sheet and keep the stock price high.
* Don't reward people for controlling costs.
* Don't reward people for doing stuff like buying insurance for the company. A monkey could do that.
* For key positions, hire underqualified, incompetent people, plus a few thieves. Trust them.
* When someone asks you to sign a document, if other board members have already signed, don't bother to look too closely into what you are signing. You can trust the others.
* Leave $10 million in checks lying around uncashed. You're at a Fortune 50 company, so don't sweat the small stuff.
* When an accountant from an outside firm tries to find out specific information about your deals and about how the company works, complain to that person's supervisor that the person is "too rules-oriented" and "uncreative." Threaten to take your business elsewhere unless that specific person is reassigned.
* When reporters begin investigating your company, say, "I don't care what you say about the company. Just don't make me look bad."
* Spend your time flying around the world in a corporate jet, shaking hands with presidents and business leaders.
P.S. This book is soon to be made into a movie starring Leonardo DiCaprio.
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