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Online NewsHour: A Time Line of the Rise and Fall of Enron Online NewsHour: A Time Line of the Rise and Fall of Enron. January 2002 In less than two decades, Enron grew from a small midwestern gas pipeline company into the world's largest energy trader with a pipeline business on the side. The following timeline charts the company's rise and fall. Nov. 29, 2001: What made Enron collapse? Online NewsHour Report on Energy Deregulation Browse the NewsHour's coverage of: business 1985 Enron is formed when a Houston-based natural gas company merges with a gas provider in Nebraska to operate a natural gas 37,000-mile pipeline. 1986 Former Exxon executive, Kenneth Lay, becomes chief executive officer of Enron. Enron begins operating its Northern Natural Gas Pipeline, a 64,000-mile pipeline linking the Great Lakes with Texas. 1996 The Federal Energy Regulatory Commission initiates the deregulation of energy markets. The meteoric rise of Enron: 1998-2001 1998 Enron acquires Wessex Water and enters the water and waste waterforms market through its Azurix subsidiary. Azuriz manages and owns utilities primarily in South America, North America, the United Kingdom and Canada. 1999 Enron begins selling broadband Internet services as a wholesale commodity. That spring, the Houston Astros announce the name of Houston's new ballpark, "Enron Field." Enron's Azurix subsidiary begins commercial operations through its 1,860-mile natural gas pipeline running from Bolivia to Brazil. By this time, Enron has foreign investments and assets valued over $20 billion and subsidiaries operating in over 50 countries. In November, Enron launches EnronOnline, an energy and commodities trading site. Dec. 2000 Enron files its annual report in which it claims to have tripled its revenues since 1998. Jan. 2000 Fortune magazine ranks Enron no. 24 among the "100 Best Companies to Work for in America." Feb. 2001 Kenneth Lay hands the chief executive position to Jeff Skilling, who served as Enron's president and chief operating officer since 1997. Full Article: http://www.pbs.org/newshour/bb/infrastructure/power/enron_time.html |
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