Enron

7 Pages 1757 Words

Enron Corp. is one of the world's largest energy, commodities and services company. Before its Chapter 11 bankruptcy filing, it marketed electricity and natural gas, delivered energy and other physical commodities, and provided financial and risk management services to customers worldwide.
Based in Houston, Texas, Enron was formed in July 1985 by the merger of Houston Natural Gas and InterNorth of Omaha, Nebraska. Initially a natural gas pipeline company, Enron rapidly evolved from delivering energy to brokering energy futures as energy markets were deregulated. The company began marketing electricity in 1994 and entered the European energy market in 1995.
In 1999, Enron launched a plan to buy and sell access to high-speed Internet bandwidth, and it launched EnronOnline, a Web-based commodity trading site, making it an e-commerce company.
The company reported revenues of $101 billion in 2000. It has stakes in nearly 30,000 miles of gas pipeline, owns or has access to a 15,000-mile fiber optic network, and has a stake in electricity generating operations around the world. Aftershocks in Europe
Enron's collapse will hit many markets.

Enron is the largest bankruptcy in United States history, and cost thousands of people their retirement and jobs. They used different accounting tricks to deceive their employees and the public on how good their financial situation really was. How could such a giant, thriving company go from worth around $60 billion dollars to bankruptcy in such a short period of time with no major warning signs? What could allow such a huge financial scandal to take place? How will the Enron scandal affect the current business world and the way that businesses are run in the future? These are all questions that are currently trying to be explained.
The story of Enron is still constantly unwinding more and more everyday. The small Houston based company that was started in 1985 when Houston Natural Gas combi...