The fall and rise of El Paso Corporation

摘要

The financial scandal and subsequent bankruptcy of American energy company Enron in 2001 caused significant disruption across the whole American energy sector. One of the companies affected by the subsequent whole-of-industry shake-up and intense scrutinisation was one of North America's largest natural gas companies El Paso Corporation, whose stock plunged from $US72 to $US3. By 2003, the company was on the verge of collapse; it had a lot of debt and was selling off assets to pay down its debt, some wanted the management team thrown out, and shareholders and employees were understandably very angry and frustrated.