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Enron Corporation was an American energy, commodities, and services company based in Houston, Texas.
At the end of 2001, it was revealed that its reported financial condition was sustained by institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal.
Enron has since become a well-known example of willful corporate fraud and corruption.
Inter North was ultimately unsuccessful as Cooper bought out Crouse-Hinds.
Cooper and Inter North feuded over numerous suits over the course of the takeover that were eventually settled after the transaction was completed.
A new board of directors changed the name of Enron to Enron Creditors Recovery Corp., and emphasized reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enron.
One of Enron's primary predecessors was the Northern Natural Gas Company, which was formed in 1930, in Omaha, Nebraska just a few months after Black Tuesday.
Although most of the acquisitions conducted were successful, some ended poorly.
Inter North competed with Cooper Industries over a hostile takeover of Crouse-Hinds Company, who manufactured electrical products.
Towards the end of the 1970s HNG's luck began to run out with rising gas prices forcing clients to switch to oil. Matthews briefly took over as CEO in a 3-year stint with initial success but ultimately saw a big dip in earnings that led to his exit.
In addition, with the passing of the Natural Gas Policy Act of 1978, the Texas market was more difficult to profit from and as a result the profits of HNG fell. In 1984, Kenneth Lay succeeded Matthews and inherited the troubled, but large diversified energy conglomerate.
The subsidiary Northern Natural Gas operated the largest natural gas pipeline company in North America.Tags: Adult Dating, affair dating, sex dating