Enron - Kenneth Lay

Kenneth Lay

Ken Lays vision for Enron was to lobby for deregulating in the energy industry. In 1985 Houston Natural Gas and InterNorth integrated to form Enron. This merge created the longest pipeline network in the country. (That would give anyone a big ego) As chairman and top dog executive of Huston Natural gas Ken Lay helped ordain the steal and was named chairman and chief executive of Enron as a result.

By early 1987, problems at Enron emerged. Despite the evidence of capability financial misconduct by top execs at Enrons oil trading unit in Valhalla, N.Y., Lay allowed the execs to affect at the company. Months later, those same execs were found to have committed another(prenominal) improper acts that opened the company up to as much as a billion dollars in losses. As a result, the office doors in Valhalla were closed. Although this pales in comparison to the scandal 15 years later it does have eerie similarities. Prosecutors at the ravel argued that the Valhalla episode should have been presented as evidence against Lay stating that he had a pattern of tolerating this behavior.

In the early 1990s, Congress (under big(a) pressure, I mean lobbying, by Enron) passed legislation that began to open up electricity sales to groceryers. This was the beginning of the end.



Enron quickly dominates the energy market and adopts a new accounting method. The smartest guys in the room fooled us for a while but before long Enron was beingness blamed for massive blackouts and price hikes in California.

In positioning of their pending demise Lay announces that Enron stock is an incredible deal and that the company was doing great. In October 2001, the Securities Exchange Commission opened an doubt into Enrons many limited partnerships. Lay continues to communicate lies to Enron employees as well as the general public. He says his executives are nothing but ethical. Less than a month later, on November 28, 2001, Enron filed for loser protection. In January 2002,...If you want to get a full essay, vagabond it on our website: Orderessay



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