Word: hap
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Dates: during 2000-2009
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...Harvard became more heavily invested in Harken, it took on an even larger role as an investor when it helped to create Harvard Anadarko Partnership (HAP) in December 1990—a move which helped Harken to remain solvent and which HarvardWatch has compared to the off-the-book shadow companies and partnerships used at Enron...
Meyer says HMC formed HAP because it only wanted to focus on Harken’s oil and gas properties, and not its other businesses—including convenience stores for gas stations and gas pipelines...
HarvardWatch claims in its October report that “following the transfer of Harken’s debts into HAP, Harken experienced the largest increase in its stock price for the six-year period between...
...There’s no doubt the debt removal was a good thing for Harken, but we didn’t set up HAP to inflate the stock price,” he says...
HarvardWatch considers this sale evidence of the unethical nature of HAP...