Enron: The fall of an Empire

Table of Contents

Introduction...........................................................................................2

History..................................................................................................2

Influential Individuals................................................................................3

The Decline............................................................................................3

Losses and the SEC...................................................................................4

The Scandal............................................................................................6

The Legendary Letter.................................................................................7

Other Primary Factors................................................................................8

The Fallout..............................................................................................9

New Legislation....................................................................................10

Conclusion...........................................................................................11

Illustrations..........................................................................................13

Works Cited..........................................................................................14

Introduction

Websters dictionary defines fraud as: deceit, trickery, perpetuated for realise or to gain some unfair or corrupt advantage. Enrons origin practices were in every way, the definition of fraud. Despite Enrons family business practices, they were the worlds primary producer of electricity, born(p) gas, and communications companies. Prompted by the dealings of Enron, many changes in business practices such as laws and decree have occurred. Naturally, the entire world of business has experienced a great deal of change since the surfacing of the Enron scandals. People entangled in the business world may never all understand all the dynamics involved in such a disastrous global company leader meltdown. Basically, Enron has apt(p) new meaning to the saying, What goes up must come down.



But, the disbelief is why and how did it come down the way it did? Thus, it is time to affect and reflect the history, decline, and fallout of this financial market giant.

History

As an American capability company based in Houston, Texas, Enron employed 21,000 people. Enron produced materials such as plastics, steel, Petrochemicals, streaming media and Broadband products. The Enron Corporation developed from a natural gas pipeline company into a global trade empire. First, Enron competed in the business of acting as a federal agent between energy suppliers and buyers. Then, Enron expanded its position as a broker of non-energy transactions. In essence, Enron became the seventh largest corporation in the fall in States until 2001. Fortune Magazine named the Enron Corporation Americas Most Innovative Company. later all these successes, Enron became involved with some risky investments. Accordingly, Enron declared revenues of $111 one million million in the year 2000...

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