Word: winokurã
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...letter, addressed to William C. Powers, who is head of Enron’s special committee, details Winokur??s possible involvement in approving Enron affiliates which contributed to the company’s downfall...
...letter then points to Winokur??s role as chair of the board of directors for Azurix Corp., a failed water company set up by Enron...
...HarvardWatch report calls for the University to launch an investigation into whether Winokur??who worked with Jacobson for two years as a director of HMC—leaked information to Jacobson about Enron’s impending demise...
...Winokur??s part in the Enron debacle is illustrated by a fascinating report released last Friday, written by a special investigating committee appointed by Enron’s 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?...
...risk was that Enron stock would go down, in which case (according to an Enron internal memo) the program would “terminate early and may return credit risk to Enron.” But that risk was not always adequately disclosed to the shareholders whom it was Winokur??s duty as a director to represent. They stayed invested in the company even when the Raptor vehicles were collapsing and Enron’s losses piled up unseen...