six years running, it was voted Most Innovative among Fortune magazine's
Most Admired Companies. Enron operated under the belief that it could
commoditize and monetize anything, from electrons to advertising space.
By the end of the decade, Enron, which had once made its money from hard
assets like pipelines, generated more than 80% of its earnings from a
vaguer business known as "wholesale energy operations and services."
From 1998 to 2000, Enron's revenues shot from $31 billion to more than
$100 billion, making it the seventh largest company on the Fortune 500.
And in early 2000, just as broadband was becoming a buzzword worth billions
in market value, Enron announced plans to trade that too. Then, the company
went down as the biggest bankruptcy in U.S. corporate history.
was incorporated on the June 16, 1947, 9:15 am CST, in Houston, Texas*
with a Saturn and Pluto conjunct its Leo Ascendant. It is apt for a company
that metamorphosed its identity from a gas trader to a gigantic network
of energy outsourcing and distribution network, to have a Gemini Sun and
Taurus Moon. Pluto rising also meant that its identity underwent many
fateful mergers and transformations over the years.
T-square between a Moon-Mars conjunction, the Saturn-Pluto conjunction
and Jupiter gives us the blueprint of Enron's staggering rise and meteoric
fall. Fixed T-squares often suggest astute business capability and organizational
expertise. In cardinal Tenth and Fourth Houses, the combination suggests
a financially clever and ambitious organization. Jupiter in Scorpio can
be a very shrewd and materialistic placement for a company. No wonder
there were financial irregularities involved in the saga of Enron's debacle.
The T-square gives the three aspects to the story-mergers, expansion and
Consolidation and Innovation
the former CFO of Enron Global Power & Pipelines, which was spun off
in 1994, says about the company, "The common theme is hubris, an
overweening pride, which led people to believe they can handle increasingly
exotic risk without danger."
case of overestimation of self-worth (Sun-Uranus conjunction in Eleventh
House), unfettered arrogance and pride (Jupiter-Pluto square) is vested
in the Enron saga. Enron's ambition was driven by its new technology systems
and versatile operations, both characterized by the Sun-Uranus combination.
Pluto's transit through Scorpio from 1984 to 1998 marked a period of unrivaled
expansion and innovation for the company. This is peculiar, as in Enron's
case the Fourth House is important not only from the point of view of
Jupiter's magnanimous and rather shrewd presence, but also the opposition
to the powerful combination of Moon-Mars in the Tenth and quincunx to
the innovative Sun-Uranus combination in the Eleventh Houses. This promises
an ambitious but rather irreverential (inconjunct) growth, driven by cutting-edge
technology signified by the Eleventh.
Jupiter transited Enron's Ninth House from summer of 1998 to 2000, kicking
off a prosperous and ambitious phase of overseas exploration, energy exports,
telecommunications business and major thrust fueled by inflationary energy
Crisis and Accounting Misdemeanors
investments in international pipelines and plants reaching from India
to Brazil during 1999-00 and over-optimistic financial allocations reduced
its profits drastically beginning near the end of 2000. This period is
very crucial. Uranus hit 10 degrees of Aquarius to form an opposition
with the Saturn-Pluto conjunction on the Ascendant. Along with earnings
uncertainties came a more potent crisis. The partnerships, in which Enron
had invested its capital, began to default on debt repayments and dues,
a fact amply suggested by transiting Uranus in the Seventh House of partnerships
and auditing were being manipulated bringing into stark revelation the
importance of the Saturn-Pluto Leo presence in the Twelfth House of deceptions,
deceit and secret machinations. The impact was to be stunning.
infamous October 16 2001, press release-the one that really marked the
beginning of the end-announced a $618 million loss, but failed to mention
that it had written down shareholders' equity by a stunning $1.2 billion
and Moody's was considering a downgrade of Enron's debt. On that day,
the Moon and Uranus sitting on the Seventh House cusp made a final aspect to Jupiter and Pluto.
the catastrophe was building up when transiting Pluto and Saturn made
a perfect opposition across the 13 degrees Sagittarius-Gemini axis, on
the cusp of Enron's Fifth-Eleventh Houses. This aspect suggests revelation,
restructuring and reformation. Pluto in the Fifth House with major oppositions can be a destroyer of all that is impure and improper.
28 2001, with Uranus and Neptune present in the natal Seventh, the Dynergy
deal ended. On that day Standard & Poor's downgraded Enron's debt
below investment grade, triggering the immediate repayment of almost $4
billion in off-balance-sheet debt, which Enron couldn't pay. The collapse
Phoenix Restructures Itself
overwhelmingly humbled, the Goliath seems to be alive and kicking. As
Saturn proceeds on its unshakable journey towards Sun-Uranus combination
of transparency and idealism, and Pluto keeps a silent watch from the
Fifth House, characterized by business restructuring, Jupiter will move
on the Saturn-Pluto combination in February 2003. That's the period when
the negative will be behind the corporation and revitalization will start.
We can expect a fighting comeback by Enron by June 2003 as a sunny Jupiter
in Leo moves into Enron's First House. We definitely haven't seen the
last of the phenomenon called Enron.
formerly known as Lone Star Trading Company until October 1975. Later,
it changed its name to Houston Gas Company, which merged with InterNorth,
an Omaha based company in July 1985, finally christening the entity Enron
corporation. The date of incorporation of the original entity is of paramount
importance as it lay the foundation for its future exploits.