Enron : An Overview Of The Corporation Essay

2236 WordsNov 3, 20169 Pages
An Overview of the Corporation Enron was a major commodities and energy company that was headquartered in Houston, Texas. It was a company once very respected and, in the eyes of the public, very profitable. It placed in the top 20 on the Fortune Global 500 in 2000, and its stock was considered at a time to be blue chip, guaranteed to make stable gains over time. Enron formed as a merger between two natural gas companies, Houston Natural Gas and InterNorth, officially becoming the company known as Enron in 1979, after newly appointed CEO Kenneth Lay moved the company’s headquarters and began a search for a name to replace the current operating name of HNG/InterNorth. Enron became one of the world’s prominent electricity and natural gas companies before its bankruptcy in 2001, employing over 20,000 employees. Its operations were largely focussed within the United States, but they had some international outreach. Upon officially becoming Enron, the company leadership slowly transitioned the focus of the company from energy production to trading and supply: making its profits off of margins of energy commodities it traded. It was named ‘America’s Most Innovative Company’ by Fortune for six consecutive years (1996-2001), largely because of the success of Enron Online, an electronic site that allowed users to trade energy commodities with the company. However, failures of Enron in the retail energy market, water market, and large investments into high-speed telecom that

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