When many people hear the word Enron, they immediately associate it with the most significant accounting scandal of our lifetime. Enron was an American gas company that began life as the Northern Natural Gas Company in 1931. Internorth, a holding company headquartered in Omaha, Nebraska, purchased the Northern Natural Gas Company and reorganized it in 1979. Enron was born from the 1985 merger of Houston Natural. Gaz and Internord. After building a large new headquarters in Omaha, in 1986 the new Enron named former Houston Natural Gas CEO Kenneth Lay as CEO of the newly merged company, and quickly moved the headquarters to 'Enron in Houston, Texas. As Enon continued to grow, they discovered in 1987 that New York oil traders had overrun the company's accounts by almost a billion dollars. The company ultimately reduced this loss to $142 million. This led Enron to develop a myriad of services to help reduce the risk of price fluctuations in everything from gas to advertising space. The following year, Enron opened its first overseas offices in England to take advantage of the country's privatization of its electricity industry. The company's major strategic shift to pursue unregulated markets in addition to its regulated pipeline business is revealed to executives at a gathering known as the "Come to Jesus" meeting. After becoming the new top executive, Lay later became chairman of the board, and in 1989 hired Jeffrey Skilling as chief executive officer. The move helped Enron launch its Gas Bank, a program under which buyers of natural gas can secure long-term supplies at fixed prices. The company is also beginning to offer financing to oil and gas producers. About three years later, Enron acquired Transportador... middle of paper......t before the fall, it's a legitimate thing to do. It is an extremely important thing to do to be a whistleblower. Why take the risk of putting your own future and life on the line for a few dollars. If I were an executive, I've already made enough money to support myself, so sticking around to make more wouldn't be a smart thing for me to do. Work Cited 1) American Wind Energy Association, http ://www.awea.org/ pubs/documents/globalmarket2001.PDF2) Definition of market value, http://www.investorwords.com/2996/mark_to_market.html3) The collapse of Enron; Potter, Jeff - Clark, Kevin - http://www.franklincollege.edu/pwp/jporter/Enron%20Case%20Study.pdf4) Enron Creditors Recovery Corp. http://www.enron.com/5) Enron-the smartest guys in the room, www.enronmovie.com