Enron

  • enron corporation
    former type
    public
    traded asnyse: ene
    industryenergy
    fatebankruptcy
    predecessor
    • internorth (northern natural gas company)
    • houston natural gas
    • merger in 1985
    successor
    • dynegy
    • prisma energy international
    • j.m. hansen corporation
    founded1985 (1985) in omaha, nebraska, united states
    founderkenneth lay
    defunct2001 (2001)
    headquarters
    1400 smith street
    houston, texas
    ,
    united states
    area served
    united states, india, caribbean, brazil
    key people
    • kenneth lay (founder, chairman and ceo)
    • jeffrey skilling (former president, coo, and ceo)
    • andrew fastow (former cfo)
    • rebecca mark-jusbasche (former vice chairman, chairman and ceo of enron international)
    • jason paxton (interim ceo and cfo)
    servicesenergy
    revenue$100.789 billion
    net income
    $0.979 billion
    total assets$67.503 billion
    number of employees
    29,000 (2001)
    divisionsenron energy services (ees) enron xcelerator
    websitewww.enron.com/ edit this on wikidata

    enron corporation was an american energy, commodities, and services company based in houston, texas. it was founded in 1985 as a merger between houston natural gas and internorth, both relatively small regional companies. before its bankruptcy on december 3, 2001, enron employed approximately 29,000 staff and was a major electricity, natural gas, communications and pulp and paper company, with claimed revenues of nearly $101 billion during 2000.[1] fortune named enron "america's most innovative company" for six consecutive years.

    at the end of 2001, it was revealed that enron's reported financial condition was sustained by institutionalized, systematic, and creatively planned accounting fraud, known since as the enron scandal. enron has since become a well-known example of willful corporate fraud and corruption. the scandal also brought into question the accounting practices and activities of many corporations in the united states and was a factor in the enactment of the sarbanes–oxley act of 2002. the scandal also affected the greater business world by causing the dissolution of the arthur andersen accounting firm, which had been enron's main auditor for years.[2]

    enron filed for bankruptcy in the southern district of new york in late 2001 and selected weil, gotshal & manges as its bankruptcy counsel. it ended its bankruptcy during november 2004, pursuant to a court-approved plan of reorganization. a new board of directors changed the name of enron to enron creditors recovery corp., and emphasized reorganizing and liquidating certain operations and assets of the pre-bankruptcy enron.[3] on september 7, 2006, enron sold prisma energy international inc., its last remaining business, to ashmore energy international ltd. (now aei).[4]

  • history
  • 2001 accounting scandals
  • insider trading scandal
  • california's deregulation and subsequent energy crisis
  • former management and corporate governance
  • products
  • enron prize for distinguished public service
  • enron's influence on politics
  • see also
  • references
  • bibliography
  • external links

Enron Corporation
Public
Traded asNYSE: ENE
IndustryEnergy
FateBankruptcy
Predecessor
Successor
Founded1985 (1985) in Omaha, Nebraska, United States
FounderKenneth Lay
Defunct2001 (2001)
Headquarters
1400 Smith Street
Houston, Texas
,
United States
Area served
United States, India, Caribbean, Brazil
Key people
ServicesEnergy
Revenue$100.789 billion
$0.979 billion
Total assets$67.503 billion
Number of employees
29,000 (2001)
DivisionsEnron Energy Services (EES) Enron Xcelerator
Websitewww.enron.com/ Edit this on Wikidata

Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded in 1985 as a merger between Houston Natural Gas and InterNorth, both relatively small regional companies. Before its bankruptcy on December 3, 2001, Enron employed approximately 29,000 staff and was a major electricity, natural gas, communications and pulp and paper company, with claimed revenues of nearly $101 billion during 2000.[1] Fortune named Enron "America's Most Innovative Company" for six consecutive years.

At the end of 2001, it was revealed that Enron's reported financial condition was sustained by institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal. Enron has since become a well-known example of willful corporate fraud and corruption. The scandal also brought into question the accounting practices and activities of many corporations in the United States and was a factor in the enactment of the Sarbanes–Oxley Act of 2002. The scandal also affected the greater business world by causing the dissolution of the Arthur Andersen accounting firm, which had been Enron's main auditor for years.[2]

Enron filed for bankruptcy in the Southern District of New York in late 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel. It ended its bankruptcy during November 2004, pursuant to a court-approved plan of reorganization. A new board of directors changed the name of Enron to Enron Creditors Recovery Corp., and emphasized reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enron.[3] On September 7, 2006, Enron sold Prisma Energy International Inc., its last remaining business, to Ashmore Energy International Ltd. (now AEI).[4]

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العربية: إنرون
تۆرکجه: انرون
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தமிழ்: என்ரான்
తెలుగు: ఎన్రాన్
Türkçe: Enron
українська: Енрон
中文: 安然公司