Word: enronizing
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...finally raises his right hand in a Senate hearing room this week, one of the things his interrogators will want to know is just how close the former Enron CEO was to George W. Bush. Their relationship dates back to before Bush was Governor of Texas. Bush sent Lay a chummy note on his 55th birthday in 1997 ("Wow! That is really old," Bush wrote. "It's a good thing your wife is so young and beautiful"). But last week in Texas, Bush allies claimed Bush never fully trusted Lay, and they portrayed Lay as a classic cowboy type...
Whatever Bush may have thought of Lay, there's no doubt that each was useful to the other. As a free-market conservative, Bush championed causes dear to Lay's heart: energy deregulation and tort reform. And Enron has been Bush's largest campaign donor. Lay hired James Baker and Robert Mosbacher, prominent members of the first Bush Administration, after they left office. During George W.'s run for the White House, the candidate's staff and family used Enron jets 14 times (though Bush himself never...
...Clay Johnson, the White House personnel director, with a list of some eight candidates to be considered for presidential appointments. And Bush duly named two of Lay's picks to the Federal Energy Regulatory Commission, which oversees the nation's electricity and gas markets. Since they are where Enron made most of its money, this...
...White House has not disclosed who else was on Lay's list. But there's no question that Lay was focused on the FERC and its influence over Enron's markets. Pat Wood, whose name was on the list Lay gave the White House, is a respected former Texas regulator who has been backed by Enron since the early 1990s. The company first warmed to him because of his support for deregulation. Last week Lay's 1994 "Dear George" letter endorsing Wood was made public. After receiving the letter, Bush appointed Wood to the Texas Public Utility Commission. To Enron...
...Past Issues Breast Cancer Feb. 18, 2002 ----------------- Olympic Preview Feb. 11, 2002 ----------------- The Enron Mess Feb. 4, 2002 ----------------- Your On Your Own Jan. 28, 2002 ----------------- Staying Healthy Jan. 21, 2002 ----------------- Apple's New Core Jan. 14, 2002 ----------------- Person of the Year...