Enron The World s Largest Energy Company - 1778 Words

Introduction and Company Background – ALI - DONE Enron was incorporated as an energy company in 1985. Headquartered in Houston, Texas, Enron was the world’s largest energy company by the end of 2001, responsible for 25% of the world’s contracts for energy trading. Enron was a strong company, holding a steady position in Fortune’s 100 best companies to work for and a sign in the company’s lobby that read â€Å"WORLD’S LEADING COMPANY†. Being an employee of Enron definitely had its perks as well. â€Å"Employees at Enron’s headquarters had access to an on-site health club, subsidized Starbucks coffee, concierge service that included massages, and car washes, all for free. Those employees with Enron Broadband received free Palm Pilots, free cell phones, and free wireless laptops† (Jennings 233). It appeared as though the company had everything going for them, but it wouldn’t be long before the company took a tur n for the worse. In late 2001, â€Å"a week following credit agencies’ downgrading of its debt to ‘junk’ grade, Enron filed for bankruptcy,† the largest recorded bankruptcy in the United States ($62 billion) at that time (Jennings 233). Enron was the result of a merger of Houston Natural Gas and Internorth. The company benefitted from being the first mover in their market, setting an internal growth strategy at an aggressive increase in revenue of 15% per year. â€Å"It became the largest energy trader in the world, with $40 billion in revenue in 1998, $60 billion in 1999, andShow MoreRelatedEnron‚Äà ´s Demise ~ Where There Warning Signs?1408 Words   |  6 PagesBaldwin Management Decision Making-Summer 2013 C. Forest Guest July 14, 2013 Executive Summary Enron is a company which headquarters is located in Houston, Texas. Enron was first headed by Samuel F. Segnar. Enron was the result of InterNorth’s acquisition of Houston Natural Gas in 1985. Under the new terms of this acquisition, the company was headed by Kenneth Lay on the first day of 1997. Enron offered employment for 20,600 employees in four major segments over the U.S., South America. Asia,Read MoreEnron Corporation : The Largest Energy Trading Essay1131 Words   |  5 PagesEnron Corporation is the largest energy-trading located in Houston, Texas. It was founded by Kenneth L. Lay in 1985. Enron has been form through the merger between Houston Natural Gas and InterNorth Incorporation and initially named it as HNG/Inter-North Incorporation, before renames it as Enteron. In 1986, the company name has been shortened to Enron Corporation. At the beginning of the operation, Enron only involved in the transmission and distribution of electricity and gas throughout the Unit edRead MoreBusiness Failure Paper1045 Words   |  5 Pagesbusiness failure of one of the largest energy companies in the world, Enron Corporation. I will discuss the leadership, management, and organizational structure of the company and how this failure could have been prevented. Company Overview Enron Corporation was an American energy company in downtown Houston, Texas. Enron employed more than 22,000 workers and was one of the largest companies dealing with electricity, natural gas, and communications. In the year 2000, Enron claimed revenues of overRead MoreEnron And Its Impact On Corporate Business Practices1124 Words   |  5 PagesEnron Enron is a company infamous for one of the largest scandals in American corporate history. Over twenty thousand employees and thousands of outside investors had billions of dollars worth of shares in the company that positioned the company to be valuated at about 70 billion dollars with shares trading at about 90 dollars a share in 2001. However, from August to November 2001 Enron s stock value dropped to $0.26, and those who had invested in Enron lost billions of dollars within a coupleRead MoreEnron Of Enron And Enron1387 Words   |  6 PagesEnron was formed in 1985 from the merger of two gas companies from Texas and Nebraska. Enron became the first company with all-American network of gas pipelines. In 1997 Enron bought power generating company Portland General Electric Corp. worth $ 2 billion. Before 1997 ended, the management turned the company into Enron Capital Trade Resources which became the largest American companies that trade in natural gas and electricity. Revenue increased dramatically from $ 2 billion to $ 7 billionRead MoreEnron And The Enron Scandal1588 Words   |  7 PagesEnron was a corporation located in Houston, Texas and in just fifteen years the US energy trading and utilities company grew to become one of America’s largest and more successful cooperation’s. Enron suffered a major fall. After being one of the most successful corporations Enron became the biggest company to file b ankruptcy in history. In this research paper it will discuss about the history of Enron, the fraud committed and who is to blame. The historical development of white collar crime in theRead MoreEnron Was The Largest Trader Of Electricity, Energy And Natural Gas1139 Words   |  5 Pages Alessia Scolaro Accounting II Before its collapse, Enron was the largest trader of electricity, energy and natural gas in the world. Founded in 1985 by businessman Kenneth Lay, Enron quickly became one of the largest corporations in America. It was a company who claimed to valued itself on integrity and truthfulness and whose main goal was to try to change the way the world bought and sold energy. Unfortunately, greed and arrogance along with accounting fraud lead to its ultimate demise.Read MoreEssay on Overview of the Enron Scandal1217 Words   |  5 Pages Enron Corporation was an energy company founded in Omaha, Nebraska. The corporation chose Houston, Texas to home its headquarters and staffed about 20,000 people. It was one of the largest natural gas and electricity providers in the United States, and even the world. In the 1990’s, Enron was widely considered a highly innovative, financially booming company, with shares trading at about $90 at their highest points. Little did the public know, the su ccess of the company was a gigantic lie, and possiblyRead MoreJaclyn Givens. Kathy Osburn. Management 101. 5/8/17. The1400 Words   |  6 PagesJaclyn Givens Kathy Osburn Management 101 5/8/17 The Enron Era â€Å"Just as character matters in people, it matters in organizations,† says Justin Schultz, a corporate psychologist in Denver. The Enron scandal had a big exposure in 2001 confirming the big secret to the increase in billions. In July 1985, Enron formed the merger of Houston Natural Gas and Omaha-based Inter North. The Enron corporation was an American energy company based in Houston Texas. The corporation’s catastrophe in 2001 signifiesRead MoreEnron Scandal And Its Impact On The Economy Essay1305 Words   |  6 PagesThe Enron scandal was the largest corporate financial scandal ever when it emerged. It took the economy the better part of a year to recover from the damage the Enron controversy caused to the US as a whole. Enron is not fully responsible, but it was a large contributor to the collapse of the stock market in the early 2000’s. In the year following the 9/11 hit to our country and economy the DOW lost close to 4500 points; down to 7500 from almo st 12000, it did gain some back, but considering the great