Word: avicious
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Watkins learned Enron was losing money on two equity investments: network-equipment supplier Avici lost 98% of its value, and another, New Power, an energy retailer that had Ken Lay on the board, dropped more than 80%. Because both firms were backed by Enron stock, Watkins knew their downfall was dragging down Enron too. None of that was being reflected in the company's public filings, as far as she could tell. As her lawyer Philip Hilder explains, "The numbers just didn...
...Watkins learned Enron was losing money on two equity investments: network-equipment supplier Avici lost 98% of its value, and another, New Power, an energy retailer that had Ken Lay on the board, dropped more than 80%. Because both firms were backed by Enron stock, Watkins knew their downfall was dragging down Enron too. None of that was being reflected in the company's public filings, as far as she could tell. As her lawyer Philip Hilder explains, "The numbers just didn...
...such as Juniper and Ciena, are each up more than 50% this year. Last Friday, despite a vicious market sell-off, Corvis, an optical-equipment maker, launched its IPO at $36; it closed at $85. Corvis has no revenue and three corporate customers. High-end router-and-switcher company Avici launched...