Word: investor
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Dates: during 2000-2009
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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...
Highfields, an investment firm started by Richard Grubman and former Harvard Management Company (HMC) investor Jonathan S. Jacobson, received an initial investment of $500 million from the University...
...committee compromises the report’s appearance of objectivity. Representatives holding hearings on Enron have publicly questioned Winokur’s role, and the board-commissioned report could be interpreted as a whitewash, designed to shift attention away from the directors just in time for Congressional hearings and investor lawsuits. As a result, we may wait years to learn the full story on who knew what and when...
...readily to the average salaryman is because they aren't real shares. You can't turn them into cash until you're 60 (in the meantime not paying taxes on the money they represent), and thus they don't come with the same rights as shares that an outside investor actually pays hard currency for. Neither are they like the gobs of shares that top executives routinely get as part of their agreed-upon compensation (again, it's about competitively luring talent). When Linda Lay was crying for the cameras last week about how she and her husband lost everything...
...This isn't just the usual rumormongering. The stakes are frighteningly high. Another EDSA would be disastrous, no matter who took over. The country is struggling to emerge from the damage Estrada caused to Ramos' reforms at home and investor confidence abroad. Another People Power, and the nation's image could be downgraded from shaky to basket case...