Skilling began his career as an analyst at First City Bancorporation inHouston,Texas. This was a bank that came under the large ownership of Enron and he was also a consultant for McKinsey and Company. Skilling worked with Enron in 1987 and he assisted the company in creating a forward market in natural gas stocks. Skilling’s performance was impressive and he was hired as CEO at Enron Financial Co. in 1990 and soon in 1991 he became chairman of Enron Gas Co.
Thus Enron financial and Enron gas merged. Then he became CEO and Managing Director at Enron Capital & Trade Resources. In 1997 he was made the COO at Enron Corporation. Skilling came up with a new idea that the company did not need assets and it can quote future figures in the balance sheet as present figures due to which the stock price shot up and the company made huge profits as a result. Thus he began an aggressive investment strategy as a result of the success. He often abused anyone who demanded the real balance sheets but he had a way with words. He abused Richard Grubman for demanding actual balance sheets but Skilling’s inappropriate behavior was taken in a humorous way and during the Enron California Energy Crisis he compared the subsidiary with Titanic and turned it into a popular joke that shot him to popularity (Fusaro,2002).
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