The company boasted $880billion in products bought and sold online within two years, although remanded silent whether or not the transactions were profitable. Around this time is when Enron has been suspected of using accounting techniques to show that the business was still making a lot of money by covering debts by counting them as independent partnerships. Enron was also taking investment money flowing into Enron from new partnerships and recording them into their books as a profit even though it was linked to specific ventures that were not yet up and running. .
Summer of the year 2000, Enron's stock was up to 90 dollars a share and its annual reported revenue reached 100 billion dollars. President Bush was up for election. Knowing that Bush would want to revise the energy policies that existed, Enron would want to keep in good standings with the up coming political parties. Both Enron and Kenneth Lay himself donated 100,000 dollars to Bush's inaugural committee fund. The incoming President Bush then asked Lay to become an advisor for his transition team. After Bush was elected for presidency, Vice-President Dick Cheney headed the energy review. As predicted, the review went over favorably for Enron.
On August 14th, 2001, Jeff Skilling resigned from Enron as its chief executive of Enron and Kenneth Lay retook the position as chief executive. Skilling claimed that his reasons for leaving the company so unexpectedly were personal Many investors in the company were shocked at the sudden and unexpected change within the company and as result the investors began to sell their Enron stock. By the end of the first week of the change the Enron stock dropped 4 dollars a share. When the stock dropped below 40 dollars a share, the public began to worry, even though Kenneth Lay insisted that the company was doing fine.
Then in May of 2001, Clifford Baxter, the Enron executive left the company.
