Word: junk
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...News of the merger leaked out Nov. 9, when Enron was valued around $9 billion. By Nov. 28th, when the S&P downgraded Enron to junk status, it was worth $2 to $3 billion at most, says Watson, but none of Enron's bankers were willing to put up enough money to soothe his fears about $18 billion in debt coming due in the next few years. In an attempt to keep the deal going, Watson had pulled three all-nighters in the last week of negotiations -something he hadn't done since his college days...
...afraid of my kitchen still. It is not such a bad kitchen. It is functional. There is a nice island-counter top in the middle that collects things like junk mail and form letters from the Vermont Society of Bar Examiners and now, since it is holiday season, pictures of smiling children and beautifully groomed dogs whom no one has ever met. The linoleum floor is swept frequently and, like I said, the Cuisinart is first-rate. But for so long so much of the food in that kitchen was off-limits or bad or would lead to inevitable disappointment...
...price from over $80 in January to $30 in October to less than $4 at Wednesday?s opening bell - and punctuated only hours later with the one-two punch that looks to have finished Enron off. That would be the downgrade Wednesday morning of Enron?s corporate debt to "junk" status - a bit of paperwork that instantly adds something like $10 billion in debt to Enron?s towering stack of bills - and the abrupt termination by Dynegy of the planned rescue...
...Sometimes a company's best deals are the ones they didn't do," Watson said Wednesday - especially if you?ve already gotten what you wanted. Once Enron's credit rating went "junk" Wednesday - essentially condemning Enron to a takeover or bankruptcy - Dynegy didn't see anything left to buy that it couldn't get cheaper at the gone-out-of-business sale, including the thousands of Enron traders and other employees for whom the commute to the Houston office is already a daily routine...
...chiefly to its "gag" format, begins to feel like the same note being hit over and over. It lacks the rich development of the Jimmy Corrigan series. Still, Ware's single note resonates like a tuning fork for America. After putting down "Acme" 15 I opened a piece of junk mail soliciting satellite TV that began, "Bring joy into your life." The Wareian "gag" completed itself in my head: the dish on the window sill, and me alone on the couch in my underwear staring at Jessica Alba...