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With its roots in the utility business, the company enjoyed a solid reputation for old-economy stability. But unlike other energy companies that didn't get it, Enron thrust itself headlong onto the Internet. The business press ate it up; so did Wall Street, sending the stock into the stratosphere. At its peak, Enron was worth about $70 billion, its shares trading for about $90 each. All that came crashing down starting last October, when the company admitted that it had misstated its income and that its equity value was a couple of billion dollars less than its balance sheet said.
In 2000 base salary, Enron exceeded the peer group average by 51%. In bonus payments, it outdistanced its peers by 382%. The stock options granted that yearâvalued at the time of grant at $86.5 millionâexceeded the number granted by peers by 484%.