Word: networked
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Dates: during 2000-2000
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...market loves Enron because Skilling and CEO Kenneth Lay seem to have come up with a business model that works for just about anything. They provide a service to their customers by packaging a supply of name your commodity and then using the efficiency of their vast network to beat most prices. They arrived at this model back in the mid-1980s almost out of desperation, when crude-oil prices had collapsed, natural-gas deregulation had thrown that market into chaos, and the Peruvian government had just nationalized Enron's offshore properties. Figuring they might as well leverage deregulation instead...
...leader in the booming telecommunications business. The plan isn't to go head to head with established fiber-optic carriers such as AT&T, Qwest and Williams Communications. Instead, Enron wants to use new switching technology and its expertise in trading pipeline access to transform a modest telecom network into a powerful arbiter of bandwidth. Enron's bet is simple: supply and demand will increase exponentially, turning bandwidth into a tradable commodity, just like gas and electricity. Along the way, why not partner with companies such as Blockbuster and use this new technology to offer content--like movies--and blow...
...transported and marketed natural gas. Then, as energy deregulation threatened profit margins in the gas business, Enron discovered it could make billions by trading and brokering packages of energy the way Midwesterners do pork bellies. Now Enron is moving into the telecommunications business, with a national fiber-optic cable network and a floor bulging with Sun supercomputers...
...this year, that has meant $120 billion in transactions. And when you're running the network, all sorts of profitable opportunities arise. Last week, when word spread that natural-gas prices would spike this winter, Enron's in-house traders saw their gains surge as customers raced to lock in future supplies at today's prices. And Enron's stock price? It hit $90 last week, tripling its value of a year ago. Kind of like an Internet play, only better...
...Four journalists in Liberia working for Britain's Channel 4 network on a documentary about diamond smuggling are headed home after a week in jail on charges of spying. Their ticket out: recantation...