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The Enron Corporation- Dilemma in the Workplace The Enron Corporation Enron was once one of the worlds leading energy companies In December 2001 Enron filed the largest corporate bankruptcy claim in United States history The collapse led to investigations of both Enron and Arthur Andersen an accounting firm employed by Enron Investigators focused on charges that Enron deliberately concealed its financial problems misled investors and failed to pay income taxes Enron has taken a downward slide since January making their stock worthless today With corrupt executives and the help of their auditing firm they have been able to provide investors with false financial information which gave them a false picture of the companys true state of affairs The collapse of Enron has made thousands of employees lose their life savings in 401k plans and company stock holdings Investors were defrauded out of billions of dollars and everyone is asking the questions How did this happen and can we prevent this from happening again Company Background In 1930 Northern Natural Gas a Nebraska-based gas pipeline company was founded By 1950 the company had doubled in size A decade later it started processing and transporting natural gas liquids The company was renamed InterNorth in 1980 and bought Belco Petroleum three years later InterNorth also helped build the Northern Border Pipeline to link Canadian fields with the United States markets C-Spancom 2002 Houston Natural Gas HNG formed in 1925 as a South Texas natural gas distributor The company started developing oil and gas properties in 1953 It bought Houston Pipe Line Company in 1956 and Valley Gas Production in 1963 HNG sold its original distribution properties to Entex in 1976 In 1984 HNG dealt with a hostile takeover attempt by a competitor and as a result brought in a former Exxon executive as Chief Executive Officer CEO The executive refocused HNG on natural gas and added Transwestern Pipeline and Florida Gas Transmission WashingtonPostcom
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