...spokespeople failed to return calls for comment; Born also refused to comment because her law firm now represents several Enron creditors. But observers argue that the CFMA essentially let Enron move forward with its plan to aggressively court derivatives...
...Kenneth Lay died of a heart attack before he could be sentenced. "The company should still be here today," Hueston said about Enron. He described the winds of a perfect storm of ethical failures that ruined the company and inflicted horrific financial losses...
...after the merger with Internorth, Lay hired the consulting firm, McKinsey & Co., to help develop a business strategy for Enron. One of the consultants assigned to the Enron study was Jeffrey Skilling. Lay subsequently hired Skilling to develop new business...
...all Enron-like deals began to founder in the market. Dominion Utilities had a bond, Dominion Fiber Ventures, that was an Enron-like structure. It was only 3% of their capital structure, though, so unlike Enron, it wouldnât kill them. We quietly bought as much...
...to try to sort something like this out," said John Beard, a former Enron accountant who was featured in the 2005 documentary, Enron: The Smartest Guys in the Room. "If I get anything, it's going to be found money as far as I'm concerned." Thursday's meeting...
...We learned that the company was a house of cards with jokers for managers. Four factors sum up the problems surrounding Enron. With few constraints, top managers engaged in self-dealing, including high salaries, huge stock options, and lots of perquisites...
...my wonderment to headquarters, which expressed its own shock in response, and I left after a few weeks. It turned out that Enron had purchased companies on the relative cheap, which, if Enron were successful with its Kyoto gambit, would prosper â possibly...
...the last decade, Vickers writes, the public SEC filings of Citigroup and J.P. Morgan Chase failed to reveal the controversial Enron transactions and even âthe scant informationâ provided after the companyâs bankruptcy was woefully inadequate âand failed, even...
...two people in this country are more responsible for enabling this sordid behavior than the power couple Phil and Wendy Gramm. Enron, lest we forget, was their baby. Then-Sen. Gramm sponsored the Commodity Futures Modernization Act of 2000, which allowed Enron's...
...UBS Warburg bought Enron's energy trading operations. UBS PaineWebber which is a subsidiary of UBS Warburg, was in charge of Enron's employee stock option program. In 2000 those terms were known only to a small circle of investment bankers and brokers who...