Enron

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Enron

An energy company that perpetrated one of the largest accounting frauds in history. Established in its latest form in 1985 in Omaha, it moved its headquarters to Houston and provided oil, natural gas, electric, water, and bandwidth products. Its share price eventually climbed to $85 because it used what it termed "innovative" techniques, including weather futures, to build its profit. In 2001, however, it was revealed that many of its assets were either overpriced or completely fictional; losses were hidden in offshore subsidies; and most profits were fraudulent. Its share price collapsed to $0.30 and Enron filed for bankruptcy in December 2001. See also: Arthur Andersen, WorldCom, Tyco International.
References in periodicals archive ?
THE ENRON CORPORATION WAS RIFE WITH CONSPIRACY AND CORRUPTION.
ERISA: Not surprisingly, Enron Corporation is among the 44 cases covered in the hefty.
The collapse of the Enron Corporation and the resulting loss of employee retirement savings highlighted several key vulnerabilities in the nation's private pension system.
But f it is the Enron corporation, it could lead to problems.
The economic and psychological shocks from the collapse of the Enron Corporation, once the seventh-largest company in the U.
Stratton's nomination must be considered by the Senate Commerce Committee, which has been busily investigating allegations of corruption at the Enron Corporation.
Enron Corporation 2000 Corporate Responsibility Report, p.
The plan to build a 39-turbine windfarm at Cefn Croes, near Devil's Bridge, in Ceredigion, has been backed by Enron Wind Overseas development, a division of the beleaguered Enron Corporation.
UK power group Innogy, which owns Birmingham-based electricity and gas retailer npower, yesterday shrugged off the imminent collapse of US-owned Enron Corporation.
According to the Associated Press, Enron Corporation of Houston is "among a handful of a new generation of independent electric power brokers and producers that have reaped revenue increases from California's power shortages and higher prices nationwide.
For example, when Enron Corporation paid Arthur Andersen more than $25 million to do the audit, that could have altered the independence between the firm and Enron.
A former in-house accountant for the Enron Corporation and a former vice president at Merrill Lynch & Co.