Enron Corporation
Before filing for bankruptcy in 2001, Enron Corporation was one of the largest integrated natural gas and electricity companies in the world. It marketed natural gas liquids worldwide and operated one of the largest natural gas transmission systems in the world, totaling more than 36,000 miles. It was also one of the largest independent developers and producers of electricity in the world, serving both industrial and emerging markets.
Timeline
Enron began as Northern Natural Gas Company, organized in Omaha, Nebraska, in 1930. The company's founding came just a few months after the stock market crash of 1929, an unusual time to launch a new venture. Several aspects of the Great Depression actually worked in Northern's favor, however. Consumers initially were not enthusiastic about natural gas as a heating fuel, but its low cost led to its acceptance during tough economic times. High unemployment brought the new company a ready supply of cheap labor to build its pipeline system. The 1940s brought changes in Northern's regulation and ownership. The Federal Power Commission, created as a result of the Natural Gas Act of 1938, regulated the natural gas industry's rates and expansion.
1944: Acquires the gas-gathering and transmission lines of Argus Natural Gas Co.
1945: Argus properties are consolidated into a subsidiary called Peoples Natural Gas Co
As time went on Northern kept expanding through acquisitions. First in 1967 it made an acquisition with Protane Corporation, a distributor of propane gas in the eastern US and the Carribbean. In 1976, Northern formed Northern Arctic Gas Company, a partner in the proposed Alaskan arctic gas pipeline, and Northern Liquid Fuels International Ltd., a supply and marketing company.
1980: Northern changes its name to InterNorth, Inc. Its attempted hostile takeover of Crouse-Hinds Co., an electrical products manufacturer, is thwarted by Cooper Industries. Northern Overthrust Pipeline Co. and Northern Trailblazer Pipeline Co. are set up to participate in the Trailblazer pipeline. Creates two exploration and production companies, Nortex Gas & Oil and Consolidex Gas and Oil Ltd.
1982: Forms Northern Intrastate Pipeline Co. and Northern Coal Pipeline Co. Establishes InterNorth International, Inc. to oversee non-U.S. operations
InterNorth made an acquisition of enormous proportions in 1...
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...d then they reported a $ 1 million charge in total. Then there was the project to build a natural gas 900 kilometer pipeline in Mozambique to Gauteng, South Africa which cost $700 million. Enron's contract is now considered overpriced. Nevertheless, Enron must pay for the gas even if it does not take possession of it and Enron has no customers for the gas. I feel that Enron had luck on it’s side for a while and were able to conquer all these different markets for a while. But they wanted too much power and money, much too fast for some of the markets they entered they had to dish out billions of dollars in up front capital investments on hard assets. . These capital investments were not expected to generate significant earnings or cash flow in the short term. This put pressure on Enron’s balance sheet.
I would of not tried to expand so rapidly and gave time for my projects, mergers and aquasitions to progress and then expand instead of rushing. I would of not spent so much time and money on contributions to political parties trying to gain deregulation and to stop gov’t oversight. I would of done things properly and legally that way gov’t oversight would of not been a problem.
This segment consists of the three natural gas pipelines: Panhandle Eastern, Trunkline, and Sea Robin, natural gas storage assets, and the Trunkline LNG terminal. The three pipelines have a total length of approximately 10,000 miles and transport 5.5 Bcf/d of natural gas. The Panhandle Eastern pipeline transports natural gas from the Rocky Mountains and Midcontinent supply areas to...
None of the competition knew what the rates were for the rebates or the rates that Rockefeller was paying the railroad. This made it hard for the competition to keep up with the Standard Oil Company. The consequences led to many oil companies being secretly bought out by Rockefeller. All in all, 25 companies surrendered to Rockefeller's relentless expansion, which was 20% of the oil industry in America.... ...
As America’s first billionaire, few individuals in history can compare with John D. Rockefeller Sr. His wealth around the turn of the 20th century would be worth roughly twenty-two billion dollars in modern United States dollars. It is undeniable that Rockefeller changed the landscape of the American petroleum industry by defining the nature of oil production. By 1883, Rockefeller was laying the foundations for what we now know as the vertically integrated company and the modern multinational. The fruit of Rockefeller’s labor, the Standard Oil companies, controlled ninety five percent of petroleum refining and transport by 1880. It would not come as a surprise, given Rockefeller’s opulence, to find Standard Oil and its business practices under close scrutiny by his competition as well as the federal government. Rockefeller’s ruthless and legally questionable business tactics threatened the well-being of the United States’ capitalistic economy. Although the federal government had a prepared response to monopolies, the Sherman Antitrust, it was not enforced to its fullest potential because of the overwhelming influence possessed by Rockefeller due to his wealth. At the time of Standard Oil’s dissolution, their prominence was already waning, providing an entry point for powerful trust busters, such as Theodore Roosevelt and influential writer, Ida M. Tarbell. Standard Oil was allowed to exist for over a decade because of the economical, political, social, and legal complications in separating Rockefeller’s companies and the oil industry. The proper environment for a dedicated antitrust effort existed only after Standard Oil’s initial decline in influence.
In 1958 Alberta gas finally reached Toronto and imports of Texas gas ended. Canada 's population was booming during the 1950s, and energy scarcities were becoming challenging. Canadian company TransCanada Pipelines Ltd. was incorporated in 1951 to undertake the creation of a natural gas pipeline across Canada. The financing of the project was split 50-50 between American and Canadian interests. This was a substantial operation in Canada because extra work was temporarily available to be able to create the pipeline. Canada has now become a self-sufficient country and stopped relying so much on other countries for oil. This was the activation of not only the Alberta oil industry booming and thriving, but also a nation as a
...mpanies, it eventually came to the point where they couldn’t keep up and eventually became a part of Standard Oil. By the time Rockefeller had reached the age of 40, his company had controlled all national oil refining by 90% and about 70% of international export of said oil.
Intuitive Surgical all begin when a surgeon that turned entrepreneur observed surgeries and invented the idea robots performing the task. Intuitive Surgical reaches out to key institutions such as academic and community hospitals. When a hospital purchases a robotic system, Intuitive Surgical will educate surgeons and the patients on the benefits of using the robotic systems. When a hospital can obtain the maximum use out of one Intuitive Surgical’s robotic system, and the a patient is satisfied, then the chance of purchasing another system in the future will
In the play, Puritanism and their beliefs and values ruled Salem. Puritanism are a close community that follow a strict set of rules; there is little freedom for individuals. Individuals who are independent or do not conform to their values are immediately seen as threats to the community. The character of John Proctor is an example of a non-conformist as he believes in justice. Proctor’s sarcastic remark against Reverend Parris: “I like not the smell of this ‘authority,’” highlights his disagreement with Parris’s power and values. The sensory imagery emphasises Proctor’s non-conformist attitude and shows his deviance towards Parris, who is considered the highest power in society as he is the man closest to God. Proctor’s blasphemous exclaim: “I say God is dead!,” is a subversion of the Puritan society and theocratic values. The high modality emphasises his rebellion against Puritanism and emphasises his nonconforming nature. His refusal to conform to the Puritan values ultimately ends in his demise. The ripping of his confession and death symbolises his refusal to conform and his integrity; he does not want to be used to justify the witch hunt and the injustices the court has done. He does not want the other people to be seen as guilty for their crimes, when they weren’t; he does not want to be seen by others as a symbol of falseness
Enron Corporation started back in 1985. It was created as a merger of Houston Natural Gas and Omaha based InterNorth as a interstate pipeline company (CbcNews). Kenneth Lay was the former chief executive officer of Houston natural gas merged his company with another natural gas line company, Omaha Based InterNorth. During the time of the merger there were many arguments amongst the two companies and in the end Ken Lay the former C...
However, Dominion acquired three natural gas companies in the year of 1995. In 1996 Dominion combined with Chesapeake Paper Products to construct a cogeneration facility to expand natural gas
Enron started about 18 years ago in July of 1985. Huston Natural Gas merged with InterNorth, a natural gas company. After their merge they decided to come up with a new name, Enron. Enron grew in that 18-year span to be one of America's largest companies. A man named Kenneth Lay who was an energy economist became the CEO of Enron. He was an optimistic man and was very eager to do things a new way. He built Enron into an enormous corporation and in just 9 years Enron became the largest marketer of electricity in the United States. Just 6 years after that, in the summer of 2000 the stock was at a tremendous all time high and sold for more than 80 dollars a share. Enron was doing great and everything you could see was perfect, but that was the problem, it was what you couldn't see that was about to get Enron to the record books.
In healthcare it is very important to have strong leaders, especially in the nursing profession. A nurse leader typically uses several styles of leadership depending on the situation presented; this is known as situational leadership. It is important that the professional nurse choose the right style of leadership for any given situation to ensure their employees are performing at their highest potential. Depending on which leadership style a nurse leader uses, it can affect staff retention and the morale of the employees as well as nurse job satisfaction (Azaare & Gross, 2011.) “Nursing leaders have the responsibility to create and maintain a work environment which not only promotes positive patient outcomes but also positively influences teams and individual nurses” (Malloy & Penprase, 2010.) Let’s explore two different leadership styles and discuss how they can enhance or diminish the nursing process.
From the 1970s to the 1990s, pipelines became far more versatile than before. More pipelines were being used to transport natural gas, such as carbon dioxide for oil recovery and other natural gas liquids for a growing heating industry. Pipelines were being constructed to gather oil and gases more than a mile beneath the bottom of the
Another problem that Pacific Oil Company faced was their own internal research and development of expanding the ...
The Enron Corporation was an American energy company that provided natural gas, electricity, and communications to its customers both wholesale and retail globally and in the northwestern United States (Ferrell, et al, 2013). Top executives, prestigious law firms, trusted accounting firms, the largest banks in the finance industry, the board of directors, and other high powered people, all played a part in the biggest most popular scandal that shook the faith of the American people in big business and the stock market with the demise of one of the top Fortune 500 companies that made billions of dollars through illegal and unethical gains (Ferrell, et al, 2013). Many shareholders, employees, and investors lost their entire life savings, investments,
Typically, people become associated with organizations early in life (Bailey, Module Five). Most of us take part in churches or clubs at a young age, and then into formal school organizations by age five or six, and if we are lucky, we get to head off to college and then enter into the employment market were we get to experience numerous conflict resolution channels. We also get to experience being creative with others, and collaborating to achieve goals as a team. Organizations are truly an amazing form of life (Bailey, Module