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"the rise and fall of enron"
the rise and fall of enron
Author:
Rebecca Wyant
When the word "Enron" comes to people's minds all they can think about is words such as cheaters, fraud and con artists. It wasn't always this way. Kenneth Lay started this company in the 1980's when they merged two gas pipeline firms, the Houston Natural and InterNorth, which were natural gas companies. Kenneth then changed the name to Enron and provided both oil and natural gas. Stocks started at less than nine dollars a share. In 15 years Enron developed a company that was the 21st largest in the world, employing over 21,000 people all over the world. Stocks were as high as 90 dollars a share. With a half of America invested in the stock market, the economy was great. Money was being spent and earned. For Enron and Kenneth Lay things were great, but like everything all good things must come to an end.

For quite some time Enron had some concerns about the large amount of money they were investing into projects and not enough profits coming out them. People also worried that if enough of these wrong investments were made, it would add up to a lot of debt. Enron started to lie about their profits and hide the debts by putting them in small corporations with the intent to pay them back at a later time. Stock prices started to drop to about 30 dollars a share and people investing in Enron got worried. Some started to get out and Enron had no choice but to file for chapter 11 bankruptcy. Stock prices dropped to a whopping decrease with one share being worth less than a dollar. The most human face of Enron's fall were the many workers from below the executive ranks who had invested their entire 401(k)s in Enron stock and would see their...

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essay on the rise and fall of enron
Pages:
4 (890 words)
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Added:
03/04/2012
Category:
Politics
Plagiarism level of this essay is: 91%
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