Word: enronizing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...fall of the house of Enron has reached the political phase...
This year's shocking irony: the lights are on in California, but there's nobody home at Enron. Earlier this year energy shortages caused rolling blackouts that shut down factories and stranded people in elevators. A half-baked foray into deregulation caused the state to pay unbudgeted billions of dollars to energy producers to wheel some juice its way. GOVERNOR GRAY DAVIS blamed the shortage on out-of-state corporate "pirates," such as Enron and Entergy...
That could be difficult, since Enron is now bankrupt. Other utilities are also suffering. One reason: investors fear there will be too much electricity available...
Marc Racicot raised some eyebrows in Washington when he announced he would be keeping his day job after taking over as G.O.P. national committee chairman in January. The former Montana Governor lobbies for interests critically affected by government policy, among them electric utilities, railroads and, until recently, Enron, the bankrupt energy concern. Racicot's decision could pose an ethical challenge for the Bush team: can Administration officials say no to a man who will be piling up campaign cash for their boss and spinning for the party...
Such was the case for Tom Padgett, a lab technician at a subsidiary of energy-trader Enron. As Enron's high-flying stock dived from $90 to less than $1, his account balance fell from $650,000 to $11,000. Last week two Democratic Senators, Barbara Boxer of California and Jon Corzine of New Jersey, introduced a bill to limit 401(k) assets to no more than 20% in a single stock. Many plans have more than 50% in one stock; some, more than 80%. Workers everywhere are on notice that the risks are great for anyone with one large...