Word: investive
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Long before the power crisis, California and Enron got along just fine. The California Public Employees' Retirement System (CalPERS), the nation's largest pension fund investor, had invested $250 million in one of the first of Enron's now-infamous off-balance-sheet partnerships - called JEDI - and got a 73 percent return over just three years. Small wonder then that when Enron execs came back in 1997 with JEDI II, a similar vehicle to invest in energy projects, including Enron's own Energy Services, CalPERS listened...
...members voted 10-1 to invest $500 million of pensioners' retirements in JEDI II, with one lone dissenter: California's state controller, Kathleen Connell. "I didn't feel comfortable about the deal," she told TIME. "It didn't pass the smell test...
Late last year, even before Enron began to dominate the headlines, House Speaker Dennis Hastert persuaded Bush to shelve until after the election his plan to privatize part of the Social Security program. Bush has not given up on the idea of letting people decide for themselves how to invest part of their Social Security taxes; he mentioned it again in his State of the Union speech. But the White House can't count on Republican congressional candidates to make that case on the stump this year. That's because when voters start thinking about retirement, it often means early...
...When Fastow and Skilling went back to CalPERS in 1997 with jedi ii, the natural gas projects had been replaced by unspecified energy projects. CalPERS pulled out of jedi ii in October 2000 to invest in something simpler and more transparent, and Fastow scrambled to set up an entity to take its place. Known as Chewco, it was a partnership controlled by Enron employees, including Kopper. According to the Powers report, Chewco and similar partnerships were engaged in shuffling assets to cover losses and create illusory profits. As a result, Enron overstated earnings by $1 billion from the third quarter...
...Wall Street Journal has wonderful tech coverage. You could also check out cnet.com and thedeal.com. If you’re short on time, all the financial news is easily accessible and concise at the financial Yahoo! and MSN sites as well. It’s also always good to invest in a stock. But if you can’t afford to do that, you should at least follow several stocks well...