Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling never broke the law, never stole any money and never lied to the public about hiding billions of dollars in losses, defense attorneys told jurors last week as the trial of the former top executives took center stage in Houston. The prosecution, however, relying on actual statements and an eyewitness, began to show how the ex-executives attempted to deceive the public in the months preceding Enron’s implosion.
Billions
Articles from Billions
Prosecutor Says Lay, Skilling ‘Chose to Lie’
Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling never broke the law, never stole any money and never lied to the public about hiding billions of dollars in losses, defense attorneys told jurors Tuesday in opening statements. However, the prosecution claimed the opposite is true, supported by actual statements and eyewitnesses, which demonstrate how the ex-executives attempted to deceive the public in the months preceding Enron’s implosion.
Gas-Dominant Sempra Views Coal-Fired Generation as Hedge
Despite billions of dollars of current and future natural gas projects, San Diego-based Sempra Energy expressed a new appreciation for coal last week in responding to newly organized local opposition to its very early plans to develop a major coal-fired power plant 100 miles north of Reno, NV. It is a “strategic” location with access to serving load centers in California, the Pacific Northwest and Nevada, a corporate spokesperson told NGI/Power Market Today on Thursday.
Independents Encouraged to Spend More on Exploration
The top North American exploration and production (E&P) companies have stashed away billions from higher oil and natural gas prices in recent months, but very few are returning to what made them great in the first place — exploration — two oil and natural gas executives said Wednesday.
Independents Encouraged to Spend More on Exploration
The top North American exploration and production (E&P) companies have stashed away billions from higher oil and natural gas prices in recent months, but very few are returning to what made them great in the first place — exploration — two oil and natural gas executives said Wednesday.
Duke Keeps Dividend But Takes Billions in Charges, Plans Plant Sales
Duke Energy defied analysts’ expectations by announcing last Wednesday that it would maintain its $1.10/share annual dividend. However, new CEO Paul Anderson outlined a major restructuring plan and said the company would have to take a $3.3 billion fourth quarter 2003 pretax charge as a result of asset impairments.
Duke Keeps Dividend But Takes Billions in Charges, Plans Plant Sales
Duke Energy defied analysts’ expectations by announcing Wednesday that it would maintain its $1.10/share annual dividend. However, new CEO Paul Anderson outlined a major restructuring plan and said the company would have to take a $3.3 billion fourth quarter 2003 pretax charge as a result of asset impairments.
Portland General Electric Fights Off Stigma Left by Enron
While the Chapter 11 Enron Corp. bankruptcy drama with tens of billions of dollar at stake ever-so slowly unfolds in a New York City bankruptcy court, in the Pacific Northwest Portland General Electric (PGE), the only utility owned by Enron, operates with solid financial footing, but an increasingly shaky political foundation that is testing the $2 billion utility’s mettle. PGE has reached out to state lawmakers in an attempt to hold off city officials who are trying to force a municipal takeover of the utility.
Billions of Dollars in Energy Investments Await PUHCA Repeal in Energy Bill
Berkshire Hathaway Inc. (BHI) has $15 billion burning a hole in its pocket to invest in the energy industry and there is $100 billion of other investors’ money “waiting on the sidelines” to see if Congress passes a broad energy bill this year that repeals the Public Utility Holding Company Act (PUHCA), MidAmerican Energy’s David Sokol told a natural gas strategy conference in Denver last week.
Billions of Dollars in Energy Investments Await PUHCA Repeal in Energy Bill
Berkshire-Hathaway has $15 billion burning a hole in its pocket to invest in the energy industry and there is $100 billion of other investors’ money “waiting on the sidelines” to see if Congress passes a broad energy bill this year, which includes repeal of the Public Utility Holding Company Act (PUHCA), MidAmerican’s David Sokol told a natural gas strategy conference in Denver this week.