Enron The Largest Energy Trader - 1669 Words

Enron was the largest company for energy and natural gas made possible through the merging of Houston Natural Gas and InterNorth based in Omaha. The merger made Enron the largest energy trader in the country and the seventh largest in the world. The company advanced into new fields of business by launching a broadband service unit and Enron online, where people can go to trade commodities. Enron rose quickly to become one of America’s most valuable company. It had a peak of $100 billion in revenue and it was taking the market by storm. The company had many major projects and had plans to expand into foreign countries. With the much celebrated success, Enron would have a greater fall than its rise because of mismanagement and poor accounting practices. The company was known for hiring the smartest individuals in the country, but that did not prevent the company from its embarrassing collapse. Enron collapsed with millions of dollars of pension funds and about 5600 people were u nemployed. The company that was thought to be performing in the eyes of the public was actually in deep trouble behind the curtains. The big question many people ask is what caused Enron’s collapse? The truth of the matter is that, Enron’s collapse was not caused by just one thing, it was caused by many things such as theft, lies, poor accounting practices, lack of auditing, political factors, and conspiracy. This is what Enron represented about a decade after the merger, this is how the company becameShow MoreRelatedEnron 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. 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