BNET Industries
Enron Corp. is in the Energy Industry
Latest News and Analysis
Handing off(shore) pension obligations.(Commentary)
Byline: Senior Editor Douglas McLeod Defined benefit pension plans are beginning to look like the tar pit that will swallow their dinosaur sponsors along with the U.S. Pension Benefit Guaranty Corp. Companies ranging from giant auto parts maker Byline: Senior...
At Deadline; Amerindo founders charged.(Late News)
Alberto Vilar, founder and president of Amerindo Investment Advisors, was arrested and charged with defrauding a client of $5 million, said Allan Weissmann, inspector and public information officer with the Postal Inspection Service in New York. The Alberto Vilar, founder and president of Amerindo Investment...
Money managers looking at new ways of setting compensation.(Briefs)(Alliance Capital Management L.P. and Enron Corp.)(PBGC and UAL Corp.)(Koninklijke Philips Electronics N.V. and Merrill Lynch Investment Managers)
NEW YORK - Money management firms surveyed by Sextant Search Partners and the Investment Advisor Association are considering new ways of measuring portfolio managers' performance and setting compensation packages. The 68 U.S. firms that participat NEW YORK - Money management firms surveyed by...
At Deadline; CapGuardian mulls changes.(Late News)
Capital Guardian Trust is considering "significant changes within the firm'' in response to concerns about the company's investment results in recent years, Stanley Mavromates, deputy CIO of the $32.6 billion Massachusetts Pension Reserves Inve Capital Guardian Trust is considering "significant changes within the firm''...
News Briefs; CalSTRS votes to span globe in choosing new investments for its private equity portfolio.
SACRAMENTO, Calif. - CalSTRS' investment committee voted to expand its international private equity investments to the entire globe. Staff at the $113 billion pension fund had recommended limiting the expansion to Japan and Australia only. Currently, SACRAMENTO, Calif. - CalSTRS' investment committee voted to expand...
News Briefs; Ohio withdraws from federal class actions, files solo lawsuits against WorldCom, Enron.(Brief Article)(Statistical Data Included)
COLUMBUS, Ohio - Ohio filed lawsuits in state court against WorldCom Inc. and Enron Corp., and will withdraw from federal class-action lawsuits against the companies, announced Betty Montgomery, Ohio attorney general. Ms. Montgomery said two lawsu COLUMBUS, Ohio - Ohio filed lawsuits in...
Late News.(industry briefs)(Statistical Data Included)
PBGC surplus declining The Pension Benefit Guaranty Corp., whose surplus had grown so large that benefit lobbying groups said it was time for Congress to lower premiums that employers pay the agency, now is seeing that surplus dwindle amid big pen PBGC surplus...
Additional Resources
Effects of Enron on future Russian business leaders: a time line survey
Russia has emerged as a new capitalistic country with a prior history of corruption under the state controlled regime. Will word of corruption in America stop efforts for an ethical business climate in the new Russia? Has the Enron scandal affected Russian views of business? In pursuit of the answer,...
Documentaries of all kinds
A rich array of documentaries can be found on DVD this fall, from the absurd and comical to the tragic. The Rape of Europa from Menemsha Films (www.menemshafilms.com; $29.95. not rated) is a thrilling film based on Robert M. Edsel's book, Rescuing Da Vinci , which details how the Nazis...
Constellation Energy Resumes Construction of 774-Megawatt Hillabee Energy Center, an Industrial Info News Alert
Researched by Industrial Info Resources(Sugar Land, Texas) -- Constellation Energy Group Incorporated (NYSE:CEG)(Baltimore, Maryland) resumed construction of the Hillabee Energy Centerthis month near Alexander City, Alabama, after receiving the final permitin September. The plant, which Constellation acquired from CalpineCorporation (NYSE:CPN) (San Jose, California) in February 2008, had stoppedconstruction in 2003...
Southwestern Energy Appoints New Senior Vice President
HOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- Southwestern Energy Company today announced the appointment of Jeffrey B. Sherrick as Senior Vice President - Exploitation of its subsidiaries, SEECO, Inc. and Southwestern Energy Production Company, effective today. Mr. Sherrick will be responsible for the company's North American oil and gas...
Former Enron lead prosecutor John Hueston tells his court tale
CORRESPONDENT DANVILLE -- John Hueston, former lead prosecutor in the Enron trial, talked to a riveted crowd Tuesday morning about how to spot ethical pitfalls in business Regaling his audience with details of the now infamous collapse of energy giant Enron, Hueston revealed the...
Eliminate Enron accounting
In a court settlement, quietly announced on Sept. 9, J.P. Morgan, Citigroup, Bank of America, Lehman Brothers and others agreed to pay $7.2 billion dollars to Enron shareholders. Being the masterminds behind "Enron accounting," is it any wonder that these companies spent the last decade infecting the entire global financial...
A ripsote to the Archbishop
When Rowan Williams and John Sentamu took up their crosiers against shortsellers, they chose strange company: Ken Lay, the disgraced chief executive of Enron, Dennis Kozlowski, the jailed boss of Tyco (who took out full-page ads against short-sellers, before his company sank under the burden of accounting fraud) and the...
Powers separation case may yield a blockbuster high court ruling
A dispute one appellate judge called the most important separation-of-powers case involving presidential appointment and removal authority in 20 years could reach the U.S. Supreme Court toward the end of the justices' current term. Whether this term or next, says an Oklahoma law professor, it could supply...
Upheaval in the Financial Markets Sharpens the Focus on Information Governance and Enterprise Transparency
Fuels Trend to Improve Oversight and Control of Enterprise Information to Proactively Mitigate Risk, Prepare for Next Wave of Compliance Pressures Improving Processes, Reducing Costs Keys to Success in Volatile Global Economy CHICAGO, Oct. 6 /PRNewswire-FirstCall/ -- While no one can predict the full impact...
Lehman 'may take 10 years to wind up'
The Lehman Brothers administration will not be completed until 2018 at the earliest, according to the man in charge of selling and winding down the failed bank's European assets. Tony Lomas, the chairman of business restructuring at PricewaterhouseCoopers PwC, said: "Based on industry experience, including cases like...
Credit crisis diary
After naked greed, just get naked Playboy magazine is hoping female City traders will lose their shirts all over again. It's looking for 20 models for a forthcoming "Women of Wall Street" feature that is meant to mark the credit crisis - and for hard-pressed ex-bankers, the...
This week's platinum picks
Taxi to the Dark Side ***1/2, 2008, ThinkFilm/Image, unrated, $28 Director Alex Gibney's Oscar-winning documentary beat No End in Sight, which would have been my choice. But Gibney also was executive producer of Sight after he directed Enron: The Smartest Guys in the Room. Did someone...
Enron Creditors Recovery Corp. Returns Additional $829 Million to Creditors in Latest Distribution
To date Estate has returned total of $21.428 Billion HOUSTON, Oct. 1 /PRNewswire/ -- Enron Creditors Recovery Corp., f/k/a Enron Corp., today announced its twenty-fourth distribution to creditors of Enron and its affiliated Debtor companies. Today's distribution to holders of allowed general unsecured claims and allowed...
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