(It seems my blog is being hacked as I type. sowy)http://www.theatlanticwire.com/global/2011/09/what-were-russian-special-forces-doing-bps-offices/41987/
Excerpt:
What Were Russian Special Forces Doing in BP's Offices?
Special forces raided BP's offices in Moscow on Wednesday looking for documents containing words like "Arctic" and "oil." The unexpected visit is linked to an ongoing lawsuit with shareholders in Siberia over money lost in BP's failed deal with Russia's state-owned oil company Rosneft to drill in the Arctic. One shareholder's lawyer told The Guardian that the raid came in response to BP's failure to deliver documents related to their $2.75 million compensation claim to court. However, the black-clad commandos carried assault rifles and roughed up the staff a little bit. BP condemned the raid, saying that Russian authorities had no legitimate grounds for such an aggressive move. "Did they expect to meet any resistance here?" wondered BP's Russian spokesman.
http://edition.cnn.com/2011/BUSINESS/08/31/russia.bp/index.html?eref=edition (video)
http://edition.cnn.com/2011/BUSINESS/08/31/russia.bp/index.html?eref=edition (video)
Russia raids BP offices, prompting oil giant's anger
August 31, 2011 -- Updated 1537 GMT (2337 HKT)
http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/bps-moscow-offices-raided-by-armed-forces/12039
Excerpt:
http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/bps-moscow-offices-raided-by-armed-forces/12039
Excerpt:
BP’s (http://www.theaustralian.com.au/business/world/russian-special-forces-raid-bps-moscow-office/story-e6frg90o-1226127095742
Excerpt:
Special forces raid BP's Moscow office
- From: The Times
- September 01, 2011
Headquarters of BP's Russian operations in downtown Moscow Source: AP
BP's troubled relationship with Russia sank to a new low yesterday after special forces raided its Moscow office and its partners in a joint venture escalated their campaign against the company.
The raid came a day after BP suffered the humiliation of being usurped by ExxonMobil in a landmark alliance with the Kremlin-controlled Rosneft, a deal that BP had claimed as its own.Police armed with assault rifles searched for documents relating to the dispute between BP and a minority shareholder in its Russian joint venture TNK-BP.
http://en.wikipedia.org/wiki/Shelf_corporation
Excerpt:
A shelf corporation, shelf company, or aged corporation, is a company or corporation that has had no activity. It was created and left with no activity - metaphorically put on the "shelf" to "age". The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a new one.
Common reasons for buying a shelf corporation include:
- To save the time involved in taking the steps to create a new corporation.
- To gain the opportunity to bid on contracts. Some jurisdictions require that a company be in business for a certain length of time to have this ability.
- To give a false appearance of corporate longevity in order to attract consumers or investors.
- To gain access to corporate credit.
http://www.corporationstoday.com/aged.html?gclid=CN6Q2K65iKsCFUsaQgodmjw72Q
Excerpt:
  | |||||||||||||||||||||||||
  Here is a list of the companies that we currently have for sale. This list changes without notice. These are shelf companies that we formed and put on the shelf, they have not been used. They come with Certificates Of Good Standing from the state, Certified Articles of Incorporation from the state, the corporate kit which includes 20 pre-printed stock certificates, corporate seal, suggested meetings minutes and one year of Registered Agent Services. All state fees are paid through the renewal date of the company. If you need other services see our other services here. If you are looking for a Publicly Traded company go here. If you want an aged LLC go here. Click here for the list of all 36 other states.
|
*Kit in hand
12/10
Aged corporations are guaranteed to be clear of any debts or liabilities. The name of the company can be changed for a fee.
http://www.inclegals.com/ShelfCorp.html?gclid=CJK4iv26iKsCFSBCgwodRnXLzA
Excerpt:
Call 1-800-535-3629 or 702-990-0511 (DST)
Nevada Shelf Entities by Inc Legal Services
To understand a Nevada Shelf you must understand the Why Nevada and Domicile. Then read on. Warning never buy a shelf corporation if the company representing the entity is not the incorporator!
Previously formed companies are known by a number of terms; i.e. Shelf or shell (usually refers to publicly traded) or aged or seasoned companies, corporations, limited liability companies or partnerships or combinations of terms. Irrespective of the term, a shelf companies offers unique opportunities. Perhaps the leading reason for acquiring an aged entity in general is credibility. An answer to the most common question, yes you may merge your history with an aged entity.
Business relationships are frequently influenced by the length of time a company has been in existence. This is often true when establishing financial and client/vendor relationships. See ILS's 18 years on the left "Since 1993".
The fact that ILS's Shelf Entities have never or had limited operation, that all stock or member shares remain intact, gives intrinsic value to that entity. The limited existence of shelf companies should, therefore, not be unexpected. ILS's shelf companies date from 1992 to 2010. Most of these entities have Federal EIN numbers and have or had business checking accounts. Note it is no longer possible to take over existing bank accounts. Therefore, a new account is opened with a reference to the existing account
Collateralized debt obligation
Excerpt:
A few academics, analysts and investors such as Warren Buffett and the IMF's former chief economist Raghuram Rajan warned that CDOs, other ABSs and other derivatives spread risk and uncertainty about the value of the underlying assets more widely, rather than reduce risk through diversification. Following the onset of the subprime mortgage crisis in 2007, this view has gained substantial credibility. Credit rating agencies failed to adequately account for large risks (like a nationwide collapse of housing values) when rating CDOs and other ABSs with the highest possible grade.
Many CDOs are valued on a mark to market basis and thus experienced substantial write-downs as their market value collapsed during the subprime crisis, with banks writing down the value of their CDO holdings mainly in the 2007-2008 period.
http://en.wikipedia.org/wiki/Collateralized_loan_obligation
Excerpt:
Collateralized loan obligations (CLOs) are a form of securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches. A CLO is a type of collateralized debt obligation.
http://en.wikipedia.org/wiki/Synthetic_CDO
Excerpt:
http://www.radicalreference.info/referenceshelf/corporations
Excerpt:
http://en.wikipedia.org/wiki/Mark-to-market_accounting
Excerpt:
Mark-to-market or fair value accounting refers to accounting for the fair value of an asset or liability based on the current market price of the asset or liability, or for similar assets and liabilities, or based on another objectively assessed "fair" value. Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s, and has been used increasingly since then.
http://www.sourcewatch.org/index.php?title=Emily_M._Norris
Excerpt:
Emily Mohajeri-Norris -- "is the Community Programs Director at NAFSA Association of International Educators. She also Serves on the Board of the Tahirih Justice Center, an organization providing legal services to immigrant women. She has worked as a consultant for Higher Education at the Landegg Academy in Switzerland. She also has a wide range of experience in the education field including, teaching, teacher training, evaluation, curriculum development, counseling, grassroots community development, and youth empowerment. She received her Masters at Harvard University in Education-Administration, Planning and Social Policy." [1]
- Director, Council for Global Education
Resources and articles
Related Sourcewatch articles
References
http://ir.hillintl.com/releasedetail.cfm?releaseid=197773
Excerpt:
Hill International Promotes Peter F. Nassab to Senior Vice President in Charge of Business Development for its Construction Claims Group
Prior to joining Hill, Nassab served in various capacities with Enron Corp. Most recently, he was Vice President of Industrial Services with Enron Energy Services, Inc. and prior to that he was Vice President of Commercial Services with Enron Engineering & Construction Co. Before joining Enron, Nassab spent 13 years with Raytheon Engineers & Constructors, Inc., most recently as Vice President of Operations for Raytheon's Process and Industrial business units. Nassab earned his B.S. in Business Administration from the University of New Hampshire.
http://www.bizjournals.com/houston/stories/2002/09/30/story2.html
Excerpt:
The energy analyst Enron couldn't buy
Houston Business Journal by Monica Perin , Houston Business Journal
Date: Sunday, September 29, 2002, 11:00pm CDT
John Olson was a persistent and irritating thorn in the sides of Enron Corp. Enron Corp. Latest from The Business Journals BofA?s flailing stock hits worker 401(k)s hardTexas Business Journals Roundup 8-31IRS loses bid to snare .9M from Ken Lay estate Follow this company chieftains Ken Lay and Jeff Skilling throughout the energy company's go-go days.
The veteran Houston energy analyst would not issue the "buy" rating Enron demanded and got from most other industry analysts.
http://www.upenn.edu/gazette/0302/0302pro3.html
Excerpt:
Olson is senior vice president and director of energy research at the Houston-based investment firm of Sanders Morris Harris, and while it wasn’t his longstanding professional skepticism that punctured the giant energy firm’s hot-air balloon, it did get under the skin of its now-disgraced chairman and CEO, Kenneth Lay.
http://www.prweb.com/releases/2011/3/prweb8205204.htm
Excerpt:
Sanders Morris Harris Changes Name to The Edelman Financial Group
New Name Reflects Focus of Nationally Recognized Wealth Management Firm with $17 Billion in Assets Under Management
I believe our growth will enable us to provide even more value to our clients and shareholders
Fairfax, VA (Vocus/PRWEB) March 15, 2011
Sanders Morris Harris Group Inc. (NASDAQ: SMHG) today announced that the firm is changing its name to “The Edelman Financial Group”, subject to shareholder approval.
http://www.sourcewatch.org/index.php?title=Daniel_J._Edelman,_Inc.
Excerpt:
Daniel J. Edelman is the founder and chairman of Daniel J. Edelman Public Relations, also known as "Edelman." Edelman is the largest independently owned PR company with 46 offices and 50 affiliates around the world. [1]
http://www.edelman.com/news/ShowOne.asp?ID=134
Excerpt:
| Getting the Maximum Benefits from Multi-Site Energy |
Rolling blackouts in California; PGE and Enron declares bankruptcy; Rates are up over 50% in California; Deregulated power available for less in some states ...
Excerpt:
Bankruptcy
With little generating capacity of its own, and unable to sell electricity to consumers for more than it could buy it on the open market, PG&E entered Chapter 11 bankruptcy April 6, 2001. The state of California bailed out the utility, and the cost worsened an already bad state budget situation. This played an important part in the eventual recall of California Governor Gray Davis.
PG&E emerged from bankruptcy in April 2004, after distributing $10.2 billion to hundreds of creditors. Its 4.8 million electricity customers are expected to pay an average $1,300 to $1,700 each in above-market prices through 2012.[citation needed]
http://docs.cpuc.ca.gov/published/NEWS_RELEASE/6279.htm
Excerpt:
http://money.cnn.com/2001/04/06/news/pacificgas/index.htm
Excerpt:
Energy deregulation has caused blackouts throughout the state of California. Soaring utility rates have been the subject of much debate in California as the wholesale prices of electricity have skyrocketed, jumping from an average of $30 per megawatt hour last year to $330 in January.
http://www.linkedin.com/in/stevehiggins
Excerpt:
http://www.cheappower.org/PUD_business_friendly.htm
Excerpt:
http://www.pbs.org/wgbh/pages/frontline/shows/blackout/california/
Excerpt:
What, exactly, happened in California? Some have attributed the state's energy woes to the "perfect storm" theory: California fell victim to a number of different problems that, taken individually, wouldn't have equaled a crisis, but through a combination of a flawed deregulation scheme, the effect of the drought, and several other extenuating circumstances, California was caught in the eye of a storm. Here are the views of business professor Severin Borenstein; U.S. Vice President Dick Cheney; California Governor Gray Davis; Robert Glynn, CEO of PG&E Corp.; consumer advocate Nettie Hoge; Enron Chairman Ken Lay; California's chief regulator, Loretta Lynch; Duke Energy CEO Richard Priory; former Secretary of Energy Bill Richardson; Enron CEO Jeff Skilling; and Stanford economics professor Frank Wolak.
For more on the roots of the crisis, see this overview from the San Francisco Chronicle.
http://www.referenceforbusiness.com/biography/F-L/Glynn-Robert-D-Jr-1942.html
http://www.cheappower.org/dead_peasants.htm
http://www.texassportfishing.com/editorial2.htm (I wonder if Enron got Dead Peasant Insurance on Kenneth Lay? What about J. Clifford Baxter?) ...cal
Excerpt:
In violation of Texas law, Wal-Mart has been taking out life insurance policies on its employees without their knowledge and naming the company as beneficiary. Another prominent user of these "dead peasant" insurance policies is, you guessed it, Enron.
http://en.wikipedia.org/wiki/Dabhol_Power_Company
Excerpt:
The Dabhol Power Company was a company based in India, formed to manage and operate the Dabhol Power Plant. The Dabhol plant was built through the combined effort of Enron, GE, and Bechtel. GE provided the generating turbines to Dabhol, Bechtel constructed the physical plant, and Enron was charged with managing the project through Enron International.
Excerpt:
http://en.wikipedia.org/wiki/General_Electric ( Enron, GE, and Bechtel)
Excerpt:
http://articles.economictimes.indiatimes.com/2009-01-12/news/28480232_1_satyam-team-satyam-computer-services-outsourcing-vendors
Excerpt:
GE, the largest client for Satyam, is learnt to be evaluating options of inducting the Satyam team working on its IT project or convincing other IT vendors to merge this team with their resources to ensure continuity of work. A source familiar with the matter said talks are on with other outsourcing vendors. Satyam's bigger rival Tata Consultancy Services (TCS) already provides services to GE.
http://timesofindia.indiatimes.com/topic/Ramalinga-Raju
Excerpt:
Ramalinga Raju (born September 16, 1954), a management graduate from Ohio University, founded Satyam in 1987 and shocked investors in January 2009 when he said the firm's profits had been overstated for years and assets falsified in a fraud allegedly worth over $1.5 bn. Raju, now facing investigation by multiple agencies including the CBI, is lodged in the Chanchalguda jail under judicial custody. Raju may face life imprisonment if convicted of misleading investors. Satyam was sold to IT firm Tech Mahindra, majority-owned by automaker Mahindra & Mahindra and partly owned by British telecoms operator BT Plc. It was subsequently renamed Mahindra Satyam, which is also listed in New York. The firm counts General Electric Co, Citigroup, Cisco Systems and GlaxoSmithKline among its clients. He was chosen as Ernst & Young Entrepreneur of the Year for Services in 1999. Raju is married to Nandini. They have two sons, Teja Raju and Rama Raju and a daughter, Deepti.
(Excerpt:
http://www.reuters.com/finance/stocks/overview?symbol=GE.NWith little generating capacity of its own, and unable to sell electricity to consumers for more than it could buy it on the open market, PG&E entered Chapter 11 bankruptcy April 6, 2001. The state of California bailed out the utility, and the cost worsened an already bad state budget situation. This played an important part in the eventual recall of California Governor Gray Davis.
PG&E emerged from bankruptcy in April 2004, after distributing $10.2 billion to hundreds of creditors. Its 4.8 million electricity customers are expected to pay an average $1,300 to $1,700 each in above-market prices through 2012.[citation needed]
http://docs.cpuc.ca.gov/published/NEWS_RELEASE/6279.htm
Excerpt:
CONTACT: | Kyle DeVine | April 6, 2001 | CPUC - 35 | |
| 415-703-1366 | kyl@cpuc.ca.gov | |||
STATEMENT OF CPUC PRESIDENT LORETTA LYNCH REGARDING PG&E'S BANKRUPTCY FILING
Today PG&E made a business decision to cut off serious negotiations to resolve the electricity crisis and instead sought formal bankruptcy protection. PG&E, as of April 4, 2001, possessed $2.3 billion in cash. It clearly chose to go to court rather than continue to seek a negotiated solution to the issues California faces. http://money.cnn.com/2001/04/06/news/pacificgas/index.htm
| PG&E seeks bankruptcy | |
| California's utility says bankruptcy won't affect service, no layoffs planned | |
Energy deregulation has caused blackouts throughout the state of California. Soaring utility rates have been the subject of much debate in California as the wholesale prices of electricity have skyrocketed, jumping from an average of $30 per megawatt hour last year to $330 in January.
http://www.linkedin.com/in/stevehiggins
Excerpt:
http://www.cheappower.org/PUD_business_friendly.htm
Excerpt:
http://www.pbs.org/wgbh/pages/frontline/shows/blackout/california/
Excerpt:
What, exactly, happened in California? Some have attributed the state's energy woes to the "perfect storm" theory: California fell victim to a number of different problems that, taken individually, wouldn't have equaled a crisis, but through a combination of a flawed deregulation scheme, the effect of the drought, and several other extenuating circumstances, California was caught in the eye of a storm. Here are the views of business professor Severin Borenstein; U.S. Vice President Dick Cheney; California Governor Gray Davis; Robert Glynn, CEO of PG&E Corp.; consumer advocate Nettie Hoge; Enron Chairman Ken Lay; California's chief regulator, Loretta Lynch; Duke Energy CEO Richard Priory; former Secretary of Energy Bill Richardson; Enron CEO Jeff Skilling; and Stanford economics professor Frank Wolak.
For more on the roots of the crisis, see this overview from the San Francisco Chronicle.
http://www.referenceforbusiness.com/biography/F-L/Glynn-Robert-D-Jr-1942.html
http://www.cheappower.org/dead_peasants.htm
http://www.texassportfishing.com/editorial2.htm (I wonder if Enron got Dead Peasant Insurance on Kenneth Lay? What about J. Clifford Baxter?) ...cal
Excerpt:
January 10, 2003
Editorial
Wal-Mart shows evidence of "collective psychopathy" when it takes employee exploitation to ghoulish heights with "dead peasant" life insurance policies.by
R.H. Meyer
http://en.wikipedia.org/wiki/Dabhol_Power_Company
Excerpt:
The Dabhol Power Company was a company based in India, formed to manage and operate the Dabhol Power Plant. The Dabhol plant was built through the combined effort of Enron, GE, and Bechtel. GE provided the generating turbines to Dabhol, Bechtel constructed the physical plant, and Enron was charged with managing the project through Enron International.
Excerpt:
http://en.wikipedia.org/wiki/General_Electric ( Enron, GE, and Bechtel)
Excerpt:
"GE" redirects here. For other uses of "GE", see GE (disambiguation).
Not to be confused with the former British company General Electric Company.
http://articles.economictimes.indiatimes.com/2009-01-12/news/28480232_1_satyam-team-satyam-computer-services-outsourcing-vendors
Excerpt:
GE, the largest client for Satyam, is learnt to be evaluating options of inducting the Satyam team working on its IT project or convincing other IT vendors to merge this team with their resources to ensure continuity of work. A source familiar with the matter said talks are on with other outsourcing vendors. Satyam's bigger rival Tata Consultancy Services (TCS) already provides services to GE.
http://timesofindia.indiatimes.com/topic/Ramalinga-Raju
Excerpt:
Ramalinga Raju (born September 16, 1954), a management graduate from Ohio University, founded Satyam in 1987 and shocked investors in January 2009 when he said the firm's profits had been overstated for years and assets falsified in a fraud allegedly worth over $1.5 bn. Raju, now facing investigation by multiple agencies including the CBI, is lodged in the Chanchalguda jail under judicial custody. Raju may face life imprisonment if convicted of misleading investors. Satyam was sold to IT firm Tech Mahindra, majority-owned by automaker Mahindra & Mahindra and partly owned by British telecoms operator BT Plc. It was subsequently renamed Mahindra Satyam, which is also listed in New York. The firm counts General Electric Co, Citigroup, Cisco Systems and GlaxoSmithKline among its clients. He was chosen as Ernst & Young Entrepreneur of the Year for Services in 1999. Raju is married to Nandini. They have two sons, Teja Raju and Rama Raju and a daughter, Deepti.
(Excerpt:
"GE" redirects here. For other uses of "GE", see GE (disambiguation).
Not to be confused with the former British company General Electric Company.)
http://www.carlyle.com/media%20room/news%20archive/2004/item6704.html
Excerpt:
http://www.carlyle.com/media%20room/news%20archive/2004/item6704.html
Excerpt:
| July 19, 2004 #2004-073 The Carlyle Group Buys Garrett Aviation from General Electric Company; Garrett to Be Combined with Piedmont Hawthorne | ||||||||
Washington, DC - Global private equity firm The Carlyle Group today announced that it has signed a definitive agreement with General Electric Company to acquire Garrett Aviation Services, a leading provider of aftermarket services to the general aviation industry. http://www.carlyle.com/Media%20Room/News%20Archive/2006/item7099.html Excerpt:
GENERAL ELECTRIC CO |
General Electric Company (GE.N)
http://en.wikipedia.org/wiki/Euronext
Excerpt:
NYSE Euronext.
[edit] Attempted Merger with Deutsche Börse
On November 25, 2008, Deutsche Börse and NYSE Euronext began merger talks which involved creating a holding company to buyout Deutsche Börse shareholders, then use Euronext to merge into the new corporation.[13] [14] A deal was reportedly not struck due to valuation differences. However, such a merger would create the largest exchange in history. [15]http://en.wikipedia.org/wiki/Fitch_Group
Excerpt:
Criticism
See also: Credit rating agency#Criticism
Credit rating agencies such as Fitch Ratings have been subject to criticism in the wake of large losses in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch.[3] However, differently from the other agencies, Fitch has been warning the market on the constant proportion debt obligations (CPDO) with an early and pre-crisis report highlighting the dangers of CPDO's.[4]http://www.carlyle.com/Team/item6047.html
Excerpt:
Matthew Cottrell is a Director focused on European Structured Credit. He is based in London.
Prior to joining Carlyle in May 2006, Mr. Cottrell was with Fitch Ratings. While at Fitch Ratings, Mr. Cottrell was a Director in the CDO group and covered cash flow arbitrage and synthetic CDOs. Previously, Mr. Cottrell worked in Fitch Ratings’ credit policy group and also in the leveraged finance group where he was responsible for rating and analyzing European leveraged loan and high yield bond transactions. Prior to Fitch Ratings, he practiced as a banking lawyer in the international finance group at Ashurst, an international law firm.
Dirty Laundry Bittersweet
http://www.youtube.com/watch?v=CnJ0xGK8dC4
http://en.wikipedia.org/wiki/Collateralized_debt_obligation
Collateralized debt obligation
Excerpt:
A few academics, analysts and investors such as Warren Buffett and the IMF's former chief economist Raghuram Rajan warned that CDOs, other ABSs and other derivatives spread risk and uncertainty about the value of the underlying assets more widely, rather than reduce risk through diversification. Following the onset of the subprime mortgage crisis in 2007, this view has gained substantial credibility. Credit rating agencies failed to adequately account for large risks (like a nationwide collapse of housing values) when rating CDOs and other ABSs with the highest possible grade.
Many CDOs are valued on a mark to market basis and thus experienced substantial write-downs as their market value collapsed during the subprime crisis, with banks writing down the value of their CDO holdings mainly in the 2007-2008 period.http://en.wikipedia.org/wiki/Collateralized_loan_obligation
Excerpt:securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches. A CLO is a type of collateralized debt obligation.http://en.wikipedia.org/wiki/Synthetic_CDO
Excerpt:http://www.radicalreference.info/referenceshelf/corporations
Excerpt:http://en.wikipedia.org/wiki/Mark-to-market_accounting
Excerpt:
Mark-to-market or fair value accounting refers to accounting for the fair value of an asset or liability based on the current market price of the asset or liability, or for similar assets and liabilities, or based on another objectively assessed "fair" value. Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s, and has been used increasingly since then.http://www.sourcewatch.org/index.php?title=Emily_M._Norris
Excerpt:
Emily Mohajeri-Norris -- "is the Community Programs Director at NAFSA Association of International Educators. She also Serves on the Board of the Tahirih Justice Center, an organization providing legal services to immigrant women. She has worked as a consultant for Higher Education at the Landegg Academy in Switzerland. She also has a wide range of experience in the education field including, teaching, teacher training, evaluation, curriculum development, counseling, grassroots community development, and youth empowerment. She received her Masters at Harvard University in Education-Administration, Planning and Social Policy."
[1]Council for Global Education
↑ Directors, Council for Global Education, accessed November 17, 2008. http://ir.hillintl.com/releasedetail.cfm?releaseid=197773
Excerpt:
Hill International Promotes Peter F. Nassab to Senior Vice President in Charge of Business Development for its Construction Claims Group
Prior to joining Hill, Nassab served in various capacities with Enron Corp. Most recently, he was Vice President of Industrial Services with Enron Energy Services, Inc. and prior to that he was Vice President of Commercial Services with Enron Engineering & Construction Co. Before joining Enron, Nassab spent 13 years with Raytheon Engineers & Constructors, Inc., most recently as Vice President of Operations for Raytheon's Process and Industrial business units. Nassab earned his B.S. in Business Administration from the University of New Hampshire. http://www.bizjournals.com/houston/stories/2002/09/30/story2.html
Excerpt:
The energy analyst Enron couldn't buy
Houston Business Journal by Monica Perin , Houston Business Journal
Date: Sunday, September 29, 2002, 11:00pm CDT
John Olson was a persistent and irritating thorn in the sides of Enron Corp. Enron Corp. Latest from The Business Journals BofA?s flailing stock hits worker 401(k)s hardTexas Business Journals Roundup 8-31IRS loses bid to snare .9M from Ken Lay estate Follow this company chieftains Ken Lay and Jeff Skilling throughout the energy company's go-go days.
The veteran Houston energy analyst would not issue the "buy" rating Enron demanded and got from most other industry analysts. http://www.upenn.edu/gazette/0302/0302pro3.html
Excerpt:
Olson is senior vice president and director of energy research at the Houston-based investment firm of Sanders Morris Harris, and while it wasn’t his longstanding professional skepticism that punctured the giant energy firm’s hot-air balloon, it did get under the skin of its now-disgraced chairman and CEO, Kenneth Lay.http://www.prweb.com/releases/2011/3/prweb8205204.htm
Excerpt:
Sanders Morris Harris Changes Name to The Edelman Financial Group
New Name Reflects Focus of Nationally Recognized Wealth Management Firm with $17 Billion in Assets Under Management
I believe our growth will enable us to provide even more value to our clients and shareholders
Fairfax, VA (Vocus/PRWEB) March 15, 2011
Sanders Morris Harris Group Inc. (NASDAQ: SMHG) today announced that the firm is changing its name to “The Edelman Financial Group”, subject to shareholder approval. http://www.sourcewatch.org/index.php?title=Daniel_J._Edelman,_Inc.
Excerpt:
Daniel J. Edelman is the founder and chairman of Daniel J. Edelman Public Relations, also known as "Edelman." Edelman is the largest independently owned PR company with 46 offices and 50 affiliates around the world. [1]http://www.edelman.com/news/ShowOne.asp?ID=134
Excerpt:
http://en.wikipedia.org/wiki/Pacific_Gas_and_Electric_CompanyChapter 11 bankruptcy April 6, 2001. The state of California bailed out the utility, and the cost worsened an already bad state budget situation. This played an important part in the eventual recall of California Governor Gray Davis.
PG&E emerged from bankruptcy in April 2004, after distributing $10.2 billion to hundreds of creditors. Its 4.8 million electricity customers are expected to pay an average $1,300 to $1,700 each in above-market prices through 2012.[]citation neededhttp://docs.cpuc.ca.gov/published/NEWS_RELEASE/6279.htm
Excerpt:
Collateralized debt obligation
Excerpt:
A few academics, analysts and investors such as Warren Buffett and the IMF's former chief economist Raghuram Rajan warned that CDOs, other ABSs and other derivatives spread risk and uncertainty about the value of the underlying assets more widely, rather than reduce risk through diversification. Following the onset of the subprime mortgage crisis in 2007, this view has gained substantial credibility. Credit rating agencies failed to adequately account for large risks (like a nationwide collapse of housing values) when rating CDOs and other ABSs with the highest possible grade.
Many CDOs are valued on a mark to market basis and thus experienced substantial write-downs as their market value collapsed during the subprime crisis, with banks writing down the value of their CDO holdings mainly in the 2007-2008 period.http://en.wikipedia.org/wiki/Collateralized_loan_obligation
Excerpt:securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches. A CLO is a type of collateralized debt obligation.http://en.wikipedia.org/wiki/Synthetic_CDO
Excerpt:http://www.radicalreference.info/referenceshelf/corporations
Excerpt:http://en.wikipedia.org/wiki/Mark-to-market_accounting
Excerpt:
Mark-to-market or fair value accounting refers to accounting for the fair value of an asset or liability based on the current market price of the asset or liability, or for similar assets and liabilities, or based on another objectively assessed "fair" value. Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s, and has been used increasingly since then.http://www.sourcewatch.org/index.php?title=Emily_M._Norris
Excerpt:
Emily Mohajeri-Norris -- "is the Community Programs Director at NAFSA Association of International Educators. She also Serves on the Board of the Tahirih Justice Center, an organization providing legal services to immigrant women. She has worked as a consultant for Higher Education at the Landegg Academy in Switzerland. She also has a wide range of experience in the education field including, teaching, teacher training, evaluation, curriculum development, counseling, grassroots community development, and youth empowerment. She received her Masters at Harvard University in Education-Administration, Planning and Social Policy."
[1]Council for Global Education
↑ Directors, Council for Global Education, accessed November 17, 2008. http://ir.hillintl.com/releasedetail.cfm?releaseid=197773
Excerpt:
Hill International Promotes Peter F. Nassab to Senior Vice President in Charge of Business Development for its Construction Claims Group
Prior to joining Hill, Nassab served in various capacities with Enron Corp. Most recently, he was Vice President of Industrial Services with Enron Energy Services, Inc. and prior to that he was Vice President of Commercial Services with Enron Engineering & Construction Co. Before joining Enron, Nassab spent 13 years with Raytheon Engineers & Constructors, Inc., most recently as Vice President of Operations for Raytheon's Process and Industrial business units. Nassab earned his B.S. in Business Administration from the University of New Hampshire. http://www.bizjournals.com/houston/stories/2002/09/30/story2.html
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The energy analyst Enron couldn't buy
Houston Business Journal by Monica Perin , Houston Business Journal
Date: Sunday, September 29, 2002, 11:00pm CDT
John Olson was a persistent and irritating thorn in the sides of Enron Corp. Enron Corp. Latest from The Business Journals BofA?s flailing stock hits worker 401(k)s hardTexas Business Journals Roundup 8-31IRS loses bid to snare .9M from Ken Lay estate Follow this company chieftains Ken Lay and Jeff Skilling throughout the energy company's go-go days.
The veteran Houston energy analyst would not issue the "buy" rating Enron demanded and got from most other industry analysts. http://www.upenn.edu/gazette/0302/0302pro3.html
Excerpt:
Olson is senior vice president and director of energy research at the Houston-based investment firm of Sanders Morris Harris, and while it wasn’t his longstanding professional skepticism that punctured the giant energy firm’s hot-air balloon, it did get under the skin of its now-disgraced chairman and CEO, Kenneth Lay.http://www.prweb.com/releases/2011/3/prweb8205204.htm
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Sanders Morris Harris Changes Name to The Edelman Financial Group
New Name Reflects Focus of Nationally Recognized Wealth Management Firm with $17 Billion in Assets Under Management
I believe our growth will enable us to provide even more value to our clients and shareholders
Fairfax, VA (Vocus/PRWEB) March 15, 2011
Sanders Morris Harris Group Inc. (NASDAQ: SMHG) today announced that the firm is changing its name to “The Edelman Financial Group”, subject to shareholder approval. http://www.sourcewatch.org/index.php?title=Daniel_J._Edelman,_Inc.
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Daniel J. Edelman is the founder and chairman of Daniel J. Edelman Public Relations, also known as "Edelman." Edelman is the largest independently owned PR company with 46 offices and 50 affiliates around the world. [1]http://www.edelman.com/news/ShowOne.asp?ID=134
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http://en.wikipedia.org/wiki/Pacific_Gas_and_Electric_CompanyChapter 11 bankruptcy April 6, 2001. The state of California bailed out the utility, and the cost worsened an already bad state budget situation. This played an important part in the eventual recall of California Governor Gray Davis.
PG&E emerged from bankruptcy in April 2004, after distributing $10.2 billion to hundreds of creditors. Its 4.8 million electricity customers are expected to pay an average $1,300 to $1,700 each in above-market prices through 2012.[]citation neededhttp://docs.cpuc.ca.gov/published/NEWS_RELEASE/6279.htm
Excerpt:
CONTACT: | Kyle DeVine | April 6, 2001 | CPUC - 35 | |
| 415-703-1366 | kyl@cpuc.ca.gov | |||
STATEMENT OF CPUC PRESIDENT LORETTA LYNCH REGARDING PG&E'S BANKRUPTCY FILING
Today PG&E made a business decision to cut off serious negotiations to resolve the electricity crisis and instead sought formal bankruptcy protection. PG&E, as of April 4, 2001, possessed $2.3 billion in cash. It clearly chose to go to court rather than continue to seek a negotiated solution to the issues California faces. http://money.cnn.com/2001/04/06/news/pacificgas/index.htm| PG&E seeks bankruptcy | |
| California's utility says bankruptcy won't affect service, no layoffs planned | |
- Director,
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Rolling blackouts in California; PGE and Enron declares bankruptcy; Rates are up over 50% in California; Deregulated power available for less in some states ...
Excerpt:
Bankruptcy
With little generating capacity of its own, and unable to sell electricity to consumers for more than it could buy it on the open market, PG&E entered
With little generating capacity of its own, and unable to sell electricity to consumers for more than it could buy it on the open market, PG&E entered
General Electric Company (GE.N)
[ Attempted Merger with Deutsche Börse
On November 25, 2008, Deutsche Börse and NYSE Euronext began merger talks which involved creating a holding company to buyout Deutsche Börse shareholders, then use Euronext to merge into the new corporation. A deal was reportedly not struck due to valuation differences. However, such a merger would create the largest exchange in history.
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