In a matter of fifteen short years, America's 7th largest company, Enron, employing 21, 000 in more than 40 countries, collapsed and filed Chapter 11 reorganization bankruptcy. Confidence plummeted once the news emerged about the company's tremendous financial liability. A number of investigations have ensued-four being done by Congress, one by the financial regulator, the Securities and Exchange Commission, and one by the Labor Department.
             Enron's inception took place in July 1985 when Houston Natural Gas merged with InterNorth, a natural gas company based in Omaha, NE. Kenneth Lay, formerly CEO of Houston Natural Gas, became the now-named Enron's first Chairman and CEO in February 1986. This deal combined several pipeline systems, which established the first nationwide natural gas pipeline system. As early as 1987, Enron realizes that oil traders in New York have overextended the company's accounts by almost $1 billion. In 1988, Enron seizes the opportunity to expand overseas in England due to the privatization of the power industry in that country. A major shift takes place, at this juncture, to pursue unregulated markets in addition to the regulated pipeline business. In 1989, Jeffrey Skilling joins the team of Enron executives. He initiates the Gas Bank program. Under this program, buyers of natural gas can lock in long-term supplies at pre-determined set prices. In December 1996, Skilling is elected president and Chief Operating Officer and continues his role as Chairman and CEO of Enron Capital & Trade Resources.
             Unfortunately, Enron's success story is nothing but an elaborate scam. Simply put, profits were inflated and debts were concealed as special purpose entities, which didn't show up on the balance sheet. Disclosures in Enron's filings with the Securities and Exchange Commission revealed that three previously unconsolidated special purpose entities should have been co
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