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I have a feeling I might be publishing quite a bit more about Enron. The NY Times (free registration required) has an article that sheds further light on Enron's partnerships.
Getting to the bottom of Enron's 3,000 or so partnerships and subsidiaries, nearly 900 of which are offshore, will not be easy. What is known is that the dealings between Enron and the various partnerships were not conducted at arm's length, as the company contended until questions arose last fall. In some partnerships, Enron's shareholders were responsible for partnership debts even though they did not benefit from the entities.
The bolding is mine. Where's the shareholder line to sue CEO Ken Lay? I'm hoping it's pretty long. Some of these partnerships were partially owned by Enron management. They were using shareholder value to enrich themselves. I'm just awe struck that Enron had so many of these partnerships. I've read about four of them so far. How many others are as screwed up as JEDI, Chewco, Condor or Raptor? At least they have cool names!
posted on Friday, January 18, 2002 9:26 PM Print
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