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Enron is the world's leading energy company, with more than $100 billion in revenues
in 2000 -- making us #7 on the Fortune 500. We have a global reach, and a
worldwide reputation for getting things done in markets where others fail.
Our trading expertise rivals that of Wall Street's
leading financial firms, and our innovation and entrepreneurial spirit are those
of a dot-com -- without the instability often associated with new businesses.
But that description fails to convey what we're really about --
changing the way the world does business, using our financial and technological
savvy to create new products and markets in ways most people thought impossible.
Today, 80 percent of our net income comes from businesses that didn't exist
10 years ago.
Enron had its start in the natural gas pipeline industry, focused mainly on
the transportation and delivery of product. But then we began to ask ... Why?
Why do cities and regions experience
energy shortages and wild price fluctuations when there is surplus capacity elsewhere?
Why should
businesses be disrupted by large fluctuations in the prices of commodities they use -- or
by adverse or extreme weather?
Why can't
businesses with excess communications bandwidth sell it to others who need it?
We first began answering these questions by transforming the
natural gas industry when that industry was deregulated.
We have led similar transformations in other
formerly inefficient industries.
Today, we've evolved into a company with
a unique combination of three strengths:
Risk Management
Enron has mastered the art and science of evaluating, mitigating and managing
risk, through economic and scientific research, superior market information and
the innovative use of technology. We've invented and deployed groundbreaking and
sophisticated derivative financial instruments to manage risk for our company
and our customers.
Commoditization
Our unmatched risk management expertise has given us the freedom to pursue a bold
vision -- transforming
products and services that are bought and sold in static,
inefficient, highly regulated markets into true commodities. We create liquid
markets for these products, trading them in standardized forms and units and hosting
transparent pricing and exchange systems for other buyers and sellers.
E-Commerce
Today we're bringing those same markets, and that same vision, to a medium that's
absolutely ideal for our data-based business model: the Internet. Through our
e-commerce site EnronOnline,
we trade energy products and other commodities globally,
giving customers 24-hour, instantaneous pricing and trading capability and opening
huge potential markets for trading techniques we've already perfected offline.
Next stop: Enron's Work Culture
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