Enron - Enron Prize For Distinguished Public Service

Enron Prize For Distinguished Public Service

During the mid-1990s, Enron established an endowment for the Enron Prize for Distinguished Public Service, awarded by Rice University's Baker Institute to "recognize outstanding individuals for their contributions to public service". Recipients were:

• 1995: Colin Powell.
• 1997: Mikhail Gorbachev.
• 1999 (early): Eduard Shevardnadze.
• 1999 (late): Nelson Mandela.
• 2001: Alan Greenspan.

Greenspan, because of his position as the Fed chairman, was not at liberty to accept the $10,000 honorarium, the $15,000 sculpture, nor the crystal trophy, but only accepted the "honor" of being named an Enron Prize recipient. The situation was further complicated because a few days earlier, Enron had filed paperwork admitting it had falsified financial statements for five years. Greenspan did not mention Enron a single time during his speech. At the ceremony, Ken Lay stated, "I'm looking forward to our first woman recipient." The next morning, it was reported in The Houston Chronicle that no decision had been made on whether the name of the prize would be changed. 19 days after the prize was awarded to Greenspan, Enron declared bankruptcy.

During early 2002, Enron was awarded Harvard's (in)famous IgNobel Prize for 'Most Creative Use of Imaginary Numbers.' The various former members of Enron management all refused to accept the award in person, although no reason was given at the time.