Word: enronizing
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Dates: during 2000-2009
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ENERGY This industry has been scalded by the Enron scandal. The most compelling values are in natural gas (where Buffett has been buying). Typically, gas-company P/Es are slightly above the S&P multiple. Today the group trades at a 50% discount, Manley notes. Big oil companies don't look cheap, but domestic producers are trading below the market average, including Amerada Hess. Electric utilities are best valued by their dividend yields. Secure yields of 4% to 6%--as with FPL and Public Services Enterprises--are out there...
Curiously, the arrests anticipated for so long--at Enron--have yet to materialize. Given the Administration's links to the disgraced energy trader, there is a risk that it will be seen to be foot dragging on the prosecution of longtime Bush buddies (and supporters) such as former CEO Ken Lay. "There hasn't been anyone in handcuffs from Enron, and we don't know why," Senate majority leader Tom Daschle said last week. While declining to comment on the specifics, Deputy Attorney General Larry Thompson, who heads the corporate-fraud strike force, said that "some cases are more complex...
...Dallas hotel last week - men whose weathered faces spoke of long days riding tractors and branding cattle - was getting such a kick out of the afternoon's speaker, the African-American Democratic nominee for Senator? Ron Kirk had them applauding from the moment he told them, "I sure wish Enron ran their business the way y'all run yours." By the time he had finished up with his line about giving the capital a dose of "what it's like to be on the front lines of problem solving," some were ready to pledge their votes. "If there...
...Enron director Herbert S. “Pug” Winokur ’64-’65 resigned from the Corporation in April, explaining that his role at Enron was diverting his time and attention from Harvard...
...scandals will have a variety of curricular impacts, Summers said—the full extent of which have yet to emerge. But Summers said that “the real lesson of Enron and the like is not the need for more ethics courses,” but the need for “the creation of habits of mind and culture, where people who have questions about something feel free to raise them...