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Fahad Saif
10/20/2013 1
Enron
What was Enron?
Enron was an American energy conglomerate based in Houston, Texas. During the 1990s, it was considered one of the most powerful and successful corporations in the world. Enron was created in 1985 through the merger of two natural gas companies at the behest of Houston executive Kenneth Lay. Lay remained the chief executive of Enron throughout its existence. Government deregulation of power utilities allowed Enron and similar companies to amass huge profits during the 1990s. Soon it was involved in a wide variety of industries, including electric power production, oil by-products, shipping, the Internet, and paper production. Numerous entities, including Fortune magazine, cited Enron as a model company for its high profitability and wideranging successes.