Is Qantas the next Enron??

[rudderless1]

Enron: The Smartest Guys in the Room

Smart? Depends on how many years they get.

Enron, the now-bankrupt energy trading company, had a motto: “Ask Why.” Ostensibly it meant that Enron employees were expected to look at complicated situations and “Ask Why” they couldn’t turn them into profits. A documentary set for release tomorrow, Enron: The Smartest Guys in the Room, catalogs the multitude of instances where Enron’s motto was interpreted as “Ask Why we can’t break the law,” and “Ask Why we have to follow proper accounting regulations.” The result, of course, was one of the largest corporate implosions in history.

Enron was born out of Kenneth Lay‘s evangelical belief in deregulation. Through his own quotes and analysis from experts like Kevin Phillips, it becomes clear that Enron’s business model was only possible thanks to the easing of restrictions on energy companies that resulted from political connections and intense lobbying.

The above from this site

Enron: The Smartest Guys in the Room — 1115.org (http://www.1115.org/2005/04/21/enron-the-smartest-guys-in-the-room/)

So many similarities:(

[Sunfish]

Never attribute to conspiracy something that can be explained by ordinary stupidity.

I don't think Qantas management is doing anything illegal, just perverse.

The idea that QF can just walk into China, generate revenue and then walk out with profits for their Australian shareholders is just the latest example of such behaviour.

[ohallen]

Agree entirely re Asia, there doesn't seem to be much doubt that universally it beggars belief save in the minds of the Board, Execs and a few shareholders (so far).

Stupidity is one thing, but stupid acts often end in tears. It is how the architects of the original stupidity respond to those consequences that often (but not always I concede) lead to illegal acts as the desperation levels to hold their jobs increases. I have personally witnessed once corporate giants turn to entirely different beings in these situations.

This game is not over yet except for the staff who are being sacrificed for the folly.

[Xcel]

GD and LC might have thought they were running the next enron, but the little leprechaun is just an idiot puppet and is really just out of his depth. Clutching at straws in a fanciful display of greed gone bad. He's a dreamer and an idiot!