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Word: shells (lookup in dictionary) (lookup stats)
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...classy, intimate birthday party for New Quincy resident Francesca D. Thanklin ’03 was invaded by “hordes of [Undergraduate Council] nerds” Friday night. Shell-shocked witness David B. Stevens ’03 provides a blow-by-blow account of the chilling dork attack: “I was talking with some people I met at the party when the door opened and about 20 of the sorriest-looking kids I’ve ever seen stumbled in. Within two minutes, they’d insulted the host and spilled a handle...

Author: By Gossip Guy, | Title: Gossip Guy! | 2/14/2002 | See Source »

...eerie beginning to the web site for Coincidence Design, a Chicago-based company that promises to exhaustively research the woman of your dreams and arrange a succession of seemingly chance encounters, with the ultimate goal of marriage between you and the chased individual. The catch? You must shell out $80,000 to have experienced detectives implement their scheme...

Author: By Jasmine J. Mahmoud, | Title: Love Me Tender, Love Me True | 2/14/2002 | See Source »

...knew all along about the possible ethical conflicts posed by the involvement of Enron chief financial officer Andrew Fastow in off-the-books partnerships with shell corporations, according to a confidential study conducted at Lay's request by the Houston law firm Vinson & Elkins. On Nov. 5, 1997, as first reported by the Wall Street Journal, the executive committee of Enron's board voted to provide hundreds of millions of dollars in loan guarantees to a partnership known as Chewco. Then, in June and November of 1999, the board waived the company's ethics code to allow Fastow to serve...

Author: /time Magazine | Title: Ignorant & Poor? | 2/11/2002 | See Source »

...didn’t help Enron that the outsiders were actually insiders; former Chief Financial Officer Andrew S. Fastow allegedly made millions from these partnerships. But the bigger problem was in the accounting gimmick itself. If Enron stock went up more than the bad investments went down, the shell companies could cover the loss and the trick would work. But if both the investments and Enron’s stock price went south, the shells would run out of money—and Enron could either try to bail them out with more stock or admit to its shareholders that...

Author: By Stephen E. Sachs, | Title: Harvard's Enron Investigation | 2/5/2002 | See Source »

Generally accepted accounting principles prohibit firms from using their rising stock price as a form of income. But that’s exactly what some of these shell companies were designed to do. As the report states, the transactions were just “transfers of economic risk from one Enron pocket to another, apparently to create income that would offset [losses] on Enron’s income statement...

Author: By Stephen E. Sachs, | Title: Harvard's Enron Investigation | 2/5/2002 | See Source »

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