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Gold/Mining/Energy : Enron - Natural Gas Industry
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To: geoffrey Wren who wrote (1051)12/3/2001 5:21:16 PM
From: James Calladine  Read Replies (1) of 1433
 
PARTNERSHIP ACCOUNTING:

I have not seen a description that made sense to me, but my guesstimation/understanding is:

-- partnerships funded by ENE shares
-- partnerships paid for shares by notes
-- notes included as ENE assets
-- partnerships took on debt
-- partnerships operated in various ways

now:

-- ENE shares worth pennies
-- partnership notes not necessarily collectible
-- notes likely to be written off
-- creditors of the partnerships may be left standing

In other words the partnerships may be black holes of
vanished assets, major debt and large operating losses still to be calculated.

As stated, this is just guesstimation. Some one else I am sure has a clearer understanding.

Namaste!

Jim
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