Jonathan Weil, a Wall Street Journal writer in Dallas, is credited with breaking the story of Enron's financial misdeeds in September 2000. Rebecca Smith and John R. Emshwiller covered the topic on a daily basis and wrote a book about it, 24 Days. It was published by Doubleday in 2002.
Weil had been working on a story for several months before it was published. He used information from company documents, interviews, and testimony to write an article that made its way through the Journal's editorial process and was published on September 18, 2000. The article was titled "Enron's Losing Battle With Money Men," and it described how the energy giant had failed to adequately monitor partnerships created by then-CEO Jeffrey Skilling to invest in companies and industries including oil and gas drilling, electricity generation, and communications services.
The article also reported on an investigation being conducted by the Securities and Exchange Commission into whether Enron had properly disclosed material facts about these partnerships to investors. In addition, it mentioned that Enron's stock price had fallen nearly 50 percent since January 2000. After the publication of this article, Enron announced that it would be firing its chief financial officer, which Weil said showed that executives were worried about the story.
Weil's work at the Journal led to another big story for him.
Synopsis and definition: The Enron Scandal broke in October 2001, when it was revealed that America's seventh largest corporation had been implicated in corporate wrongdoing and accounting fraud. ENRON stockholders lost $74 billion in the run-up to the company's bankruptcy, and its employees lost their jobs as well as billions in pension payments. The scandal also caused public concern about other large corporations who used similar methods to hide their financial problems.
The story began in December 1995, when Houston-based energy trading company Enron announced a major change in its management team. Ken Lay, an experienced energy executive who was previously the CEO of another Houston-based company, Dynegy, and Jeff Skilling, an ambitious young executive who had recently left the Royal Dutch/Shell Group, were hired as Co-CEOs of Enron. They proposed a strategy called "creating value from chaos" to guide Enron's business practices.
Lay and Skilling believed that traditional energy companies such as Enron needed to expand into new markets and create more efficient processes if they were to remain competitive. Enron set out to do this by acquiring other businesses, some of which were already successful in these markets (such as Broadband Solutions), and some of which needed additional help (such as Dabhol Power). In addition, Enron invented several new businesses, including a website design company called EOL (which would later become EnronOnline), and a company called Broadband Solutions.
So started a series of events that would erupt in Washington for two years, result in the first resignation of a U.S. president, and permanently alter American politics. The topic piqued the interest of two young reporters on The Washington Post's staff, Carl Bernstein and Bob Woodward, who were brought in to work on it.
The controversy occurred in the 1970s, following a break-in at the Democratic National Committee headquarters at the Watergate office complex in Washington, D.C. The controversy was not a single incidence, but rather a series of incidents centered on the aforementioned break-in.
Bob Woodward is an American journalist and novelist who broke and reported on the Watergate crisis for The Washington Post alongside Carl Bernstein. Woodward later covered important events such as the September 11 attacks, and he published famous books about many presidents' administrations. His latest book is titled "Fear: Trump in the White House."
He began his journalism career at the Washington Post in 1969, working on the city room staff. He was promoted to assistant editor in 1970, deputy editorial page editor from 1973 to 1976, and editorial page editor from 1976 to 2003. In addition, he wrote a number of influential articles for the paper's magazine section.
Woodward has been awarded two George Polk Awards for newspaper reporting, including one for his coverage of the Watergate scandal. He has also won the National Book Award for Nonfiction twice, for All the President's Men and Bush Family Records.
After leaving the editorial page office, he continued to write about the presidency with several more best-selling books including one about Barack Obama called "The Agenda: Inside Obama's White House"; another about Donald Trump called "Fear: Trump in the White House"; and a novel set during the Vietnam War called "Wired: The First Life of John Belushi."
Meanwhile, veteran watchers, such as Sarah Ellison, a former Wall Street Journal writer and author of the book War at the Wall Street Journal about Murdoch's acquisition of the daily, are not shocked by what has occurred to Murdoch's paper under Trump. Rupert Murdoch speaks to a packed Wall Street Journal newsroom in New York on December 13th, 2007.
The cast (in credit order) has been verified as full. Sheen, Charlie Bud Fox. Tunie, Tamara Cover, Carolyn, and Franklin
Monday through Saturday, The Wall Street Journal is published. WSJ.com publishes new articles every day. The print edition is published Monday through Saturday by the Dow Jones Newspaper Company.
The Wall Street Journal was first published on March 2, 1889. It originally was called the New York Evening Journal and it was owned by Adolph Ochs who also owned the New York Times. In 1960, both papers were bought by Rupert Murdoch's News Corporation. They merged their printing operations that year and now print both newspapers at several locations. In 1995, they changed the name of the newspaper to the Wall Street Journal.
Here are some other important dates in the history of The Wall Street Journal:
1889-March-2 First issue begins publication.
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The Wall Street Journal is a long-standing news institution. It has been in continuous print since July 8, 1889. Charles Dow, Edward Jones, and Charles Bergstresser created the periodical. Some of those names may be familiar to you. Dow went on to found the Dow Jones stock market index, a widely used measure of the performance of the stocks markets. Edward Jones is a prominent investment firm that is still owned by the family that founded it in 1945. Charles Bergstresser was an attorney who left his job at a large New York law firm to start his own practice. He eventually decided that writing and publishing articles was more fun than arguing cases before judges so he started his own newspaper as a side business.
After it began publication, Mr. Bergstresser's paper was not successful so he joined with another editor who had some experience running a newspaper called The Evening News to form the Wall Street Journal. They moved their operation to New York City because that's where the money was. There were already several other newspapers competing for readership so they decided to focus on quality rather than price. This is one of the keys to the Journal's success today; it strives to be a quality product rather than just another news outlet.
Mr. Dow and Mr. Jones each held equal shares in the company but only Mr. Dow is credited with creating the "Wall Street" portion of its name.