Word: enronization
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...have sympathy for all shareholders of Enron who lost so much in the company's collapse. A point to consider for future investing: Warren Buffett, unquestionably a savvy investor, follows a simple rule of never investing in a business he doesn't understand. My guess is that only a small percentage of Enron investors understood the energy-trading business the company was in. How many losses could have been avoided if these investors had just adhered to Buffett's easy-to-follow rule. DANIEL MCADAM Poultney...
...sense of deja vu. "For a minute there I thought we were back at the Clinton White House." "Your cover would have passed the bias test if it had substituted the Capitol building for the White House," suggested a New Jerseyan, "as both Democrats and Republicans were beneficiaries of Enron's greed." A Nebraskan pressed her charge more bluntly: "The article is about Enron, but the picture is of the White House. You're learning from the tabloids...
Your article "Under The Microscope" [THE ENRON SPILLOVER, Feb. 4] did a disservice to EDS [Electronic Data Systems] by implying that our company has hidden liabilities. We do not. EDS does not engage in off-balance-sheet debt transactions. The contingent obligation you referred to relates to a small part of our business in which we arrange financing on behalf of our customers with third-party financial institutions for capital assets. We use third-party financing principally to reduce EDS's risk. The financial institution assumes all credit risks associated with the repayment of these customer obligations. The only exposure...
...include Pantene and Head & Shoulders shampoos, admitted Dumpster diving for information about Anglo-Dutch conglomerate Unilever, makers of Finesse and Helene Curtis. Dumpster diving is also practiced by identity thieves, who seek credit-card information. Fear of Dumpster diving has helped fuel the growing popularity of shredders--even before Enron gave them such high visibility...
...profits--up from the normal 20%--may not be so cocky going forward, notes Steven Galante, president of Asset Alternatives, a Wellesley, Mass., research firm. And for those who put their money in private equity, the corporate books allow the kind of transparency that stock-market investors crave post-Enron. To secure seed money for start-ups and spin-offs, companies grant private managers broad disclosure...