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Published in:
2015 | OriginalPaper | Chapter
Enron
Authors : Desheng Dash Wu, David L. Olson
Published in: Enterprise Risk Management in Finance
Publisher: Palgrave Macmillan UK
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One of the primary reasons for the current emphasis on ethical business practice has been the history of the Enron Corporation. Enron was founded in 1985 to manage a natural gas pipeline. It expanded operations to include trading not only natural gas but also other energy commodities, including gas and electricity. This trading included derivatives on the price of gas, to hedge risk. Enron participated in a joint venture creating an online trading operation offering options and other derivatives to traders in the gas industry. By 2000 it was well known as a trading pioneer in that field, and this led to its stock doing well on Wall Street; in 2001 it was rated as 7th on the Fortune 500.