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Non-Tech : The ENRON Scandal
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To: opalapril who wrote (4308)8/5/2002 1:29:37 PM
From: Raymond Duray  Read Replies (2) of 5185
 
DAHBOL

opalapril,

I'm not familiar with Yellow Kid Weil, but I assume he wasn't good news.........

"""""""""""""""""""""
Here's a historical piece on the blow-up of the house of cards in Dahbol, India:

rediff.com

<Snip>

The Enron crisis reaches a flash point
It has been an eventful week for the financially strapped Maharashtra government. Having decided not to help the Maharashtra State Electricity Board pay for Enron's expensive power, the consequent default led to a two-notch downgrade in the state's credit rating. It also led to Enron invoking its sovereign guarantee and asking the central government to pay the controversial Dabhol Power Company.

Not paying DPC's extortionate bills is a good idea, but it has to be followed up with a tough and credible action plan to free the government from its commitment and the political will to follow it through. The DPC project is one of the worst examples of political greed and naiveté - right from the negotiation of a one-sided contract by one political party, to its cancellation and re-negotiation of a much larger project by another set of political parties. A third political formation is now left to clean up the mess and face the political consequences of paying steep power bills to it.

<Continues........>
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