Word: shellful
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...board. According to the report, in the late 1990s Enron had made risky investments that threatened to drag down the company’s stellar earnings. The company wanted to prevent potential losses on these investments from tarnishing its New Economy image. Enron therefore transferred the investments to shell companies with names like “Raptor,” selling them Enron stock in exchange for IOU’s. Since 3 percent of the companies belonged to outsiders—whose investments, to sweeten the deal, were insured against loss—the companies wouldn?...
...feeling of awe probably orginiates from my experiences at Harvard games. Lavietes Pavilion, our 2,195-seat facility, would barely be able to hold just the student section of Cameron. In addition to that, there is an upper level of 7,000 more seats of alums and locals who shell out big bucks to watch amateur kids half their age play basketball for free...
...personal tragedy for its workers. Bush's first challenge is to convince Americans that he didn't use his influence to protect one of his biggest campaign contributors. His larger one is to convince them he will use that influence from now on to protect them from future corporate shell games. --With reporting by James Carney and Adam Zagorin
...than explosive. On Dec. 23, Pakistan lobbed an 81-mm mortar into Chand's courtyard, the first time such heavy ordnance has been used in the area since 1971. The mortar landed in mud and failed to detonate. Now army engineers are trying to extricate it, whacking around the shell with heavy pickaxes. "If that thing had burst," says Chand, observing from a few feet away, "nothing would have survived...
...seasoned hand, Josh Hochberg, head of the fraud section and the first to listen to the FBI tape of Linda Tripp and Monica Lewinsky in the days leading to the case against President Clinton. The probe will address a wide range of questions: Were Enron's partnerships with shell corporations designed to hide its liabilities and mislead investors? Was evidence intentionally or negligently destroyed? Did Enron executives' political contributions and the access that the contributions won them result in any special favors? Did Enron executives know the company was sinking as they sold $1.1 billion in stock while encouraging employees...