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Fall of Enron Free Essay, Term Paper and Book Report

In 2001 Enron Corporation, energy and commodities trading company, became the largest company ever to file for Chapter 11 bankruptcy protection. Many people lost their jobs, retirement and in one case their life. This is the story behind it. In 1985 two of the largest natural gas companies in the United States merged together to form what, in 1986, became known as Enron Corporation. InterNorth, a gas pipeline company out of Omaha, Nebraska, and Houston Natural Gas of Texas joined together to form the largest natural gas company in the United States. The newly formed Enron had roughly 37,000 miles of natural gas pipeline throughout the mid-west and into Texas. The new company, which was centered in Houston, named Kenneth Lay the chief executive officer and began to expand rapidly. Enron lied about the company’s profits and concealed debts so that they would not show up in the their companies accounts. Enron’s decline began after it revealed that much of its profits and revenues was the result of deals with limited partnerships which it......

Word Count: 503
Page Count: 2  (250 words a page / double spaced)

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