Chapter NineCorporate Structure and Power


IN DECEMBER 2001, shock waves rippled first through the business world and then through all segments of society. The front-page story of almost every newspaper in every country shifted from the war on terror to another: one of the most dominant and successful energy companies in the world had suddenly filed for bankruptcy. Enron Corp., once celebrated as the leader of a new wave of innovative enterprise, had managed to spearhead the conversion of electricity provision in much of the United States into a privatized speculative commodity, contributing to big energy problems in California while avoiding government oversight. It had also brilliantly contributed toward and then exploited the global deregulation ...

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