Enron’s collapse was the result of unethical practices; alas‚ such practices had a long‚ ignominious presence. The Enron story begins with CEO Kenneth Lay‚ who in 1986 combined his Houston Natural Gas company with several other entities. Until 1996‚ Enron primarily sold natural gas. Yet‚ in a sign of trouble to come‚ in 1987 Lay overlooked evidence of financial misdeeds in the company’s Valhalla‚ NY unit as executives Louis Bourget and Thomas Mastroeni greatly inflated profits while embezzling
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down too fast. In 1985‚ Enron was created by a merge between Houston Natural Gas and InterNorth by Houston’s Natural Gas’s CEO Kenneth Lay. It was considered one of the world’s leading electricity‚ natural gas‚ communications‚ and pulp and paper companies before becoming bankrupted in 2001. Enron incurred in a massive debt and in order to survive Kenneth Lay hired McKinesy & CO who assigned Jeffrey Skilling whom had a background in banking and asset and liability management. Kenneth was so impressed
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Southern Methodist University in applied science‚ and in 1979 received his M.B.A. from Harvard. He was hired by McKinsey & Company as a consultant and in 1987 began working with Enron to help create a forward market in natural gas (wikipedia.org). Ken Lay hired Skilling in 1990 as chairman and chief executive officer of Enron Finance Corp. and in 1991 he became the Chairman of Enron Gas Services Co. Also‚ he was appointed CEO/managing director of Enron Capital & Trade Resources. Skilling was promoted
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small company from Texas‚ after years Enron became in the seven largest business in the U.S. with a smarts an experts employees working for Enron. The founder was Ken Lay a smart executive. The company was leader for many years the culture of Enron was very maleness they needed “Guys with spikes”. So Enron did have the smartest guys. Ken Lay hire as CEO Jeffrey Skilling and J. Clifford Baxter‚ an intelligent executive he committed suicide‚
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Frito Lay Frito Lay is a division of Pepsi Co and is based in New York. It is known as a world leader in the manufacturing and marketing of snack chips‚ capturing nearing 50% of retail sales in the category. It offers we renown brands like Lay’s‚ Ruffles‚ Fritos‚ Doritos‚ Cheetos‚ Sanitas ‚ etc. Snack Food Industry Frito Lay holds 13% of sales of the US snack food industry which includes candy‚ crackers‚ sun chips‚ nuts and other assorted items. The company is working on introducing a new product
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Frito Lay created a rainbow colored chips through their Doritos tortilla brand in support of the gay and lesbian teens. The multicolor nacks are made to bear with the It Gets Better Project which is helping the bullied young homosexuals. According to Fox News‚ the company unveiled the limited edition Doritos Rainbows on Thursday. It comes with a Cool Ranch flavor with hues of green‚ blue‚ purple‚ red‚ and orange nibbles inspired by the Gay Pride flag. The E! Online noted that the corporation is celebrating
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competition in the energy market increased‚ gas and energy prices began to fluctuate greatly. Over time‚ Enron incurred massive debts and no longer had exclusive rights to its pipelines. It needed some new and innovative business strategies. Kenneth Lay‚ chairman and CEO‚ hired the consulting firm McKinsey & Company to assist in developing a new plan to help Enron get back on its feet. Jeff Skilling‚ a young McKinsey consultant who had a background in banking and asset and liability management
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movie‚ Enron: The Smartest Guys in the Room‚ provided additional information‚ details‚ and context regarding the individuals‚ decisions‚ and factors that contributed to Enron’s downfall (McLean & Elkind‚ 2003). To begin with‚ the movie delved into Ken Lay and Jeff Skilling’s personal‚ educational‚ and professional background and provided context regarding how their backgrounds influenced their decisions as Enron executives. Subsequently‚ I was able to better understand how their character flaws of selfishness
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well known brands are five that generate annual sales of$1billioneach: Lay’s‚ Ruffles‚Doritos‚ Tostitos &Chee –tos. In addition to its dominance of the potato chip‚ tortilla chip‚& corn chip sectors (the last of these led by the Fritos brand)‚Frito-Lays has major brands in other categories such as Rold Gold pretzels‚ Craker Jack candy- coated popcorn‚ & Grandma’s cookies. About $4billion of the company’s overall net sales are generated outside the United States‚ with sales in 42 countries. Lay’s
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stakeholders include; consumers‚ local community‚ and business and financial analyst. Economic/Non-Economic Business Decisions Over a numbers PepsiCo was able to acquire quite a few other giants in the beverage and food sectors of business such as; Frito Lay‚ Quaker‚ Gator Ade‚ Lipton‚ and Tropicana. These acquisitions gave PepsiCo the opportunity to add more revenue and a bigger profile to the company. On the negative side‚ whenever a company acquires other companies‚ someone is always going to lose
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