Enron

Enron Corporation

Logo (designed by Paul Rand) used from 1997 to 2001. This was Rand's final major logo before his death in November 1996.
Company type	Public
Traded as	NYSE: ENE
Industry	Energy
Predecessor	InterNorth (Northern Natural Gas Company) Houston Natural Gas merger in 1985
Founded	July 16, 1985; 38 years ago (1985-07-16) in Omaha, Nebraska, U.S.
Founder	Kenneth Lay (for the Houston National Gas branch)
Defunct	March 1, 2007; 17 years ago (2007-03-01) November 28, 2016; 7 years ago (2016-11-28) (as Enron Creditors Recovery Corporation)
Fate	Chapter 11 bankruptcy (as an effect of accounting fraud)
Successor	Dynegy Prisma Energy International J.M. Hansen Corporation
Headquarters	1400 Smith Street Houston, Texas , United States
Area served	United States, India, Caribbean, Brazil, and Canada
Key people	Kenneth Lay (founder, chairman and CEO) Jeffrey Skilling (former president, COO, and CEO) Andrew Fastow (former CFO) Rebecca Mark-Jusbasche (former vice chairman, chairman and CEO of Enron International) Jason Paxton (interim CEO and CFO)
Services	Energy
Revenue	$100.789 billion
Net income	$979 million
Total assets	$67.503 billion
Number of employees	20,600 (2000)
Divisions	Enron Energy Services (EES) Enron Xcelerator
Website	Archived official website at the Wayback Machine (archived 2000-06-20(Date mismatch))

Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded by Kenneth Lay in 1985 as a merger between Lay's Houston Natural Gas and InterNorth, both relatively small regional companies. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,600 staff and was a major electricity, natural gas, communications, and pulp and paper company, with claimed revenues of nearly $101 billion during 2000.^[1] Fortune named Enron "America's Most Innovative Company" for six consecutive years.

At the end of 2001, it was revealed that Enron's reported financial condition was sustained by an institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal. Enron has become synonymous with willful corporate fraud and corruption. The scandal also brought into question the accounting practices and activities of many corporations in the United States and was a factor in the enactment of the Sarbanes–Oxley Act of 2002. The scandal also affected the greater business world by causing, together with even larger fraudulent bankruptcy WorldCom, the dissolution of the Arthur Andersen accounting firm, which had been Enron and WorldCom's main auditor for years.^[2]

Enron filed for bankruptcy in the Southern District of New York in late 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel. It ended its bankruptcy in November 2004, pursuant to a court-approved plan of reorganization. A new board of directors changed the name of Enron to Enron Creditors Recovery Corp., and emphasized reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enron.^[3] On September 7, 2006, Enron sold its last remaining subsidiary, Prisma Energy International, to Ashmore Energy International Ltd. (now AEI).^[4] It is the largest bankruptcy due specifically to fraud of all time.^[5]