I remember Enron well and when deregulation of the utilities and communication industry took effect I was working at a telecommunication company in upstate NY at the time in a corporate manager position. I remember there was a company wide meeting where the CEO and CFO said there were going to be major changes besides a name change the structure of the company would change. The Union spoke at the meeting and was clearly upset and concerned about the workers.

Over the next few years executive collected fat bonuses and we're living the high life. Within five years the company would sold off to another communication company and would also go multiple bankruptcy filings with a well deserved reputation of mismanagement and abusive conduct which I know personally and now my pension might equal a 1/2 of gas.