Word: jedi
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Dates: during 2000-2009
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...There is nothing inherently sinister about special-purpose entities, and Enron's initial investors did well because the deals were straightforward. CalPERS, the California state pension system and one of the nation's largest institutional investors, put $250 million into an spe called jedi i, which invested in natural gas projects. CalPERS got back $433 million, a spiffy 73% return over four years...
...When Fastow and Skilling went back to CalPERS in 1997 with jedi ii, the natural gas projects had been replaced by unspecified energy projects.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...
...company fell so far so fast, taking with it the jobs and pension savings of thousands of workers and inflicting losses on millions of individual investors. At the heart of Enron's demise was the creation of partnerships with shell companies, many with names like Chewco and JEDI, inspired by Star Wars characters. These shell companies, run by Enron executives who profited richly from them, allowed Enron to keep hundreds of millions of dollars in debt off its books. But once stock analysts and financial journalists heard about these arrangements, investors began to lose confidence in the company's finances...
...must be the sun-baked, post-apocalyptic desertscape in Franklin J. Schaffner?s original. The planet on which Mark Wahlberg crashes is dark, moody and marshy - in fact, it?s alarmingly similar to the one in "Empire Strikes Back," in which men are ruled by wrinkled green Jedi instructors - and that?s OK. Dark and moody is Burton?s thing, and he does it well; take what...
...last year's CeBIT technology exhibition in Hanover, Germany, Juha Christensen spoke about Microsoft as if it were the Evil Empire. As a cofounder of London-based Symbian, he saw himself as a Jedi Knight, intent on European technology winning the day and becoming the Windows of the handset market. Several months later the 36-year-old Swede switched camps. Now, he is helping design the mobile strategy for Symbian's nemesis out of the U.S. as vice president of marketing and services for - you guessed it - Microsoft's mobility group...