“We’re back. Can we talk?”: Enron’s unexpected rebrand

Enron’s former headquarters, now occupied by Chevron

Enron is back, and its resurgence has sparked many questions about its past shady dealings. However, the brand’s unexpected resurface appears to be pointed toward satire rather than a plea for forgiveness from public markets. 

December 2nd marked the 23rd anniversary of Enron’s collapse, and with such a glaring reminder of one of the biggest corporate scandals to date came an uninspired 1-minute video fuelled with stock footage and empty buzzwords, distributed across various social media platforms, such as X and Instagram, announcing its return, sending many into shock and confusion. The announcement on social media was followed up by a billboard taken out in Houston, Enron’s former home, stating, “We’re back. Can we talk?” Needless to say, people were confused...

Enron began as an energy supply company that mainly dealt with natural gas under the leadership of its founder, Kenneth Lay. However, it later ventured into broadband, trading in energy markets, and a number of other services, eventually building itself into the 7th largest company in the US at the time, according to Fortune magazine.

Its collapse resulted from a culture that had rewarded dishonesty and malpractice. Its tactics included SPE usage to hide debt and liabilities off their balance sheets, documenting inflated revenue of income statements, and a general lack of transparency from key executives, Jeff Skilling, Kenneth Lay, and Andrew Fastow, which eventually exposed the failings of the company and resulted in its bankruptcy declaration of 2001.

Despite initial thoughts surrounding Enron’s return, it has become more apparent that this rebirth is not what it appears to be. Enron’s trademark was repurchased in 2020 by individuals with no prior connection to the brand, and patent records in the last few months clearly show that Enron has been taken under new ownership. However, a closer look at its current leaders, Connor Gaydos and Peter McIndoe, could indicate humorous intentions behind the relaunch.

Gaydos and McIndoe are the faces behind the parody social movement Birds Aren’t Real, centring upon the idea that birds are assets of the government used to surveil and gather intelligence on civilians. Although it had garnered a significant amount of attention, it was later revealed that it was a stunt aimed at poking fun at conspiracy theorists and online movements through an absurdist lens. 

The Enron website has been a giveaway, stating in its terms and conditions that “THE INFORMATION ON THE WEBSITE IS FIRST AMENDMENT PROTECTED PARODY, REPRESENTS PERFORMANCE ART, AND IS FOR ENTERTAINMENT PURPOSES ONLY.”

It seems that the two in charge are doubling down further on the joke. They have since added a mission statement, career listings and plenty of futile jargon, such as “continuous innovation” and “forward-thinking approach”, to the site that adheres to the commercial sensibility present in corporate America.

It appears that investors who have found themselves in a giving (or forgiving, depending on how you look at it) mood this season will have to look elsewhere this Christmas since this Enron relaunch is nothing more than a performance art stunt capitalising on the tainted brand of the former energy giant’s corrupted legacy.

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