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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