Word: enron
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Dates: during 1990-1999
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...saddled with high-cost plants, particularly nuclear facilities, just as lower-cost competitors are moving in. So high-cost outfits like Boston Edison and the New England Electric System in Massachusetts are selling off their generating plants to deliver power produced by other companies. Brash newcomers such as Enron Corp. of Houston, one of the country's largest distributors of natural gas, are buying megawatts of electricity on the open market and selling them around the country. It's called wheeling...
...electric companies can match the Texas-size swagger of Enron, which vows to overpower its stodgy utility rivals. "What other industry in America still sends agents into your home to read meters just as they did in 1935?" asks Enron spokesman Mark Palmer. Enron is putting its money where its boasts are: gearing up for wireless metering and building a billing center near Columbus, Ohio, with the capacity to produce statements for no fewer than--count 'em--30 million customers...
...Enron is also running up its own electric bill: the Houston company is paying $3.2 billion to acquire Oregon's Portland General Electric Co. in a deal that will give Enron access to low-cost hydroelectric power, 650,000 customers and an opportunity to go to school on retail operations...
Many of Huggins' patients continue to swear by his treatments. Kenneth Lay, chairman of Enron Corp. in Houston, and his wife Linda had their amalgam fillings removed at the Huggins Center in 1991. Her chronic fatigue disappeared, as did an unexplained numbness he was experiencing. "I know what his critics say," comments Lay, "but I'm convinced that he does a lot of good for a lot of people...
...sharpest blow to multinationals came in the state of Maharashtra, where right-wing politicians on Aug. 3 canceled the largest overseas investment ever made in India-a $2.8 billion electric-power plant that Enron Corp. of Houston was building near Bombay. Enron, which broke ground in March and stands to lose $300 million if it abandons the venture, is seeking talks aimed at permitting work to resume. "This is typically Indian," says Barton Biggs, chairman of Morgan Stanley Asset Management, which runs an Indian mutual fund. "For every three steps forward, they take two steps back...