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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 789 |
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Over the next year questions began to arise about the LMJ partnerships. The stock began to rollercoaster from $80 to just below $50. But on November 1, 2001 Enron announced that J.P. Morgan Chase and Citi Group would provide them $1 billion in additional loans. This announcement again shot the stock in an upward spiral and almost doubled it at around $85...
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But in reality Enron was not being successful. They were only making one cent for every dollar they accounted for which is not profitable for any company.
In the month of November Enron began to restate their profits from 1997 to 2000. In 1997 they reported $105 million in profit while in reality it was only $77 million...
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