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Gold/Mining/Energy : Enron - Natural Gas Industry
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To: buffaloha who wrote (1293)1/15/2002 8:59:02 PM
From: jjs_ynot   of 1433
 
Well your "cash cow" has creditors writing off 100% of their loans to ENE and that was before they got nothing for their trading business. UBS wouldn't even let them keep any equity position, just a promise of possible future profits.
Withou ownership, ENE can't control (cook the books) the accounting of profit.

Have you ever noticed that movies never show a profit, so that all of the people with a percentage of the profit never see anything?
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