The Enron Corporation

Paper Summary:

The paper describes the series of scandals by the Enron company that involved irregular accounting procedures, bordering on fraud. The paper discusses how displaced Enron employees stood to learn from their experience. They can learn how working for a large and seemingly stable company, which promises a lot of incentives, benefits and security, is not an assurance that they will receive what the compan promises or offers. The paper concludes that the labor sector should continuously lobby for its interests in both Houses of government in response to these developments and in preparation for probable problems linked to these developments.

From the Paper:

"The Enron Corporation is an American energy company formed with the merger between Houston Natural Gas and InterNorth with Kenneth Lay as Chief Executive Officer in 1985 in Omaha, Nebraska (Wikipedia 2006). It was immediately renamed into Enron and its headquarters established in Houston, Texas. Its original business lines were the transmission and distribution of electricity and gas in the United States and the development, construction and operation of power plants, pipelines and other infrastructure worldwide. But right in its first year of operation as a merger, it went into a partnership with Spectrum 7, an oil well venture, whose chairman and CEO was George W. Bush, the son of the then US Vice President George H. W. Bush. In 1998, the company opened a water sector, Azurix Corporation, but which failed to break into the water utility market and Enron would, in April of 2001, announce that it would dissolve Azurix and sell its assets (Wikipedia)."

Sample of Sources Used:

• Cable News Network. (2002). FBI Talks to Enron Employees. AOL Time Warner Company. http://www.search.yahoo.com/search?ei=UTF-8&p=Enron+employees&fr=slv1-&b=11
• Hanson, E. (2002). Attorney General Orders Release of Ex-Enron Executive's Suicide Note. Houston Chronicle. http://www.chron.com/disp/story.mpl./special/enron/1361816.html
• Wikipedia. (2006). Enron Corporation. Media Wiki. http://en.wikipedia.org/wiki/Enron

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