The Enron Story: Its Rise and Fall
Enron Corporation is a classical fairytale story where company reach to dramatic
heights only to fall. It is a complicated story that how in an overnight one of the
largest and hottest company of US disintegrated. It is one of the classical examples
of accounting gimmicks and fraud. Enron bankruptcy is considered as the 6th largest
bankruptcy in the world till the year 2010. Enron, was once a sleepy pipeline firm
but in a decade became world’s largest energy trader which was in 2001 by its rival
Dybegy Inc. who believes in ethical way of working and teamwork contrasting to
Enron.
Birth of Enron
Enron came into existence in the year 1985 when two pipe line companies InterNorth
and Houston Natural Gas merged to form Enron Corporation with Ken Lay as CEO.
Work Style & Rise
Company work in autonomous way where employees were allowed form and set
their own salaries and bonuses. Lay used to encourage people to take more risks and
