Tuesday, May 12, 2020

Northern Natural Gas Company Management - 1225 Words

Enron Corporation was once known as Northern Natural Gas Company, Founded in 1932 in Omaha, Nebraska as a provider of natural gas. Through its early stages, Northern Natural Gas Company was unsuccessful in their business venture. They experienced problems in persuading consumers to use natural gas to heat their homes because of fear that natural gas leaks lead to explosions. Thanks to the great depression, many people were taking the risk because of how relatively cheap natural gas was. As the company’s revenues and profit grew, northern began to acquire many of its smaller competitors resulting in their apparent growth as a company. In 1947 its stock was listed on the New York stock exchange, providing the company with more finances which it needed to continue its growth in acquiring its competitors to becoming the largest natural gas supplier in the United States. In 1980, Northern Natural Gas Company changed its name to InterNorth, Inc in which over the next few years the company management extended the scope of the company’s operations. InterNorth invested in oil exploration, chemicals, coal mining and fuel-trading operating but the company’s focus always remained the natural gas industry where it tried so hard to dominate in its industry. In 1985, InterNorth purchased Houston Natural Gas Company for 2.3 billion allowing them to achieve their long sought goal of becoming the largest natural gas company in the United States. In 1986, InterNorth went through its lastShow MoreRelated The Enron Scandal Essay803 Words   |  4 Pagesestablished in 1930 as Northern Natural Gas Company and joined with three other companies to undertake this industry. The four companies eventually began to break apart between 1941 and 1947 as a result of a public stock offering. In 1979, Northern Natural Gas was placed under new management when it was bought by InterNorth Inc. In 1985, Kenneth Lay, CEO of Houston Natural Gas Company devised a transaction for InterNorth to purchase Houston Natural Gas. Lay was named CEO of the new company and changed InterNorthsRead MoreUnethical Behavior at Enron862 Words   |  4 Pagesname was formerly Northern Natural Gas Company, which was formed in 1932 in Omaha, Nebraska. But in 1985, it bought the smaller Houston Natural Gas and finally changed its name to Enron. The â€Å"crooked E† logo was designed in the 1990s. Enron was well known for transmitting and distributing electricity and gas throughout the United States. Enron developed, built, and operated power plants and pipelines while dealing with the rules of law. They owned a huge network of natural gas pipelines which spreadRead MoreThe Merger Between Houston Natural Gas Company1077 Words   |  5 Pagesthe Omaha-based Northern Natural Gas Company, an interstate pipeline company formed in 1932. In 1979, the Northern Natural Gas Company merged under their holding company InterNorth. Accordingly, InterNorth branched into a more diversified energy company working in natural gas marketing, production, and transmission alongside plastics innovation and other energy-related products. In 1985, during the reorganization of the merger between Houston Natural Gas and InterNorth, the company named itself â€Å"HNG/InterNorthRead MoreEnrons Accounting Fraud1304 Words   |  6 PagesSCANDAL INTRODUCTION: Northern Natural Gas Company (the ancestor of ENRON) was established in 1930. In 1979, Inter North Inc. bought Northern Natural Gas Company and placed it  under a new management. 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Enron forerunner, Northern Gas Company was incorporated in Delaware on April 25, 1930. From this date through July 1985, Enron had hundreds of purchases and new sub-entity constructions when they acquired Houston Natural Gas Inc. (Kastantin, 2005). On April 10, 1986, the company changed its name to Enron Corporation. Enron was an interstate and intrastate natural gas pipeline company, then later in 1989 Enron started trading natural gas commodities (Sridharan

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