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    GORISK

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    Angelgraceregalado

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    © All Rights Reserved
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    GORISK

    Uploaded by

    Angelgraceregalado
    3 views1 page

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    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    3 views1 page

    GORISK

    Uploaded by

    Angelgraceregalado

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Background:

    Enron was an energy based company formed in 1986 following merger between Houston Natural
    Gas Company and Omaha-based InterNorth Incorporated. After the merger, Kenneth Lay, who had
    been the chief executive officer (CEO) of Houston Natural Gas, became the chairperson of Enron’s
    company.

    Enron Corporation

    Lay quickly rebranded Enron into an energy trader and supplier. Deregulation of the energy markets
    allowed companies to place bets on future prices. In 1990, Lay created the Enron Finance
    Corporation and appointed Jeffrey Skilling, whose work as a McKinsey & Company consultant had
    impressed Lay, to head the new corporation. Skilling was then one of the youngest partners at
    McKinsey.

    Enron company divided operations in several major departments, including:


     Enron Online: In late 1999, Enron built its web-based system to enhance customer
    functionality and market reach.
     Wholesale Services: Enron offered various energy delivery solutions, with its most robust
    industry being natural gas. In North America, Enron claimed to deliver almost double the
    amount of electricity compared to its second tier of competition.
     Energy Services: Enron's retail unit provided energy around the world, including in Europe,
    where it expanded retail operations in 2001.
     Broadband Services: Enron provided logistical service solutions between content providers
    and last-mile energy distributors.
     Transportation Services: Enron developed an innovative, efficient pipeline operation to
    network capabilities and operate pooling points to connect to third parties.

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