A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 2 : America in the Twentieth Century  Encyclopedia of American Wealth

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  Part III - Chapter 18 : CEOs  > The Enron Story  :  « Previous  1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10 - 11 - 12   Next »

Enron : Climax of executive greed and deception 

Page entitled : Enron's cash flow problems and more creative accounting

Content of this page is about :
How Andy Fastow, new CFO, solved Enron's cash flow problems by borrowing and hifing losses and debt in off-balance sheet special purpose entities (SPE).


Extract :
... a ruling by a London court ordering Enron to pay $440 million to its North Sea gas suppliers, the necessary restructuring of JEDI put Enron face to a serious financing issue .

Fastow’s answer to the the JEDI issue was the creation of a new special purpose entity, named Chewco Investment LP for another Star Wars character, which would replace CalPERS as the limited partner in the JEDI structure.  ...

 

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