Monthly Archives: September 2009
If Joe Hirko Were CFO of Enron Corporation
When Portland General was acquired by Enron Corporation, Joe Hirko was CFO. As CFO, he had a reputation for being honest, scrupulous, and conservative. I wonder if Jeff Skilling had fired Fastow and put Hirko in the CFO chair at … Continue reading
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Skilling Tells Enron Jury He’s Innocent (April 10, 2006)
[I posted this on April 10, 2006. I'm feeling nostalgic, I suppose.] Former Enron Corp. Chief Executive Jeffrey Skilling told jurors in his fraud and conspiracy trial Monday that he abruptly resigned from the energy trading company a few months … Continue reading
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Enron Primer: Hedging & The Origin of LJM1
[This is a re-post from 2004.] In this section we’re going to clarify exactly what hedging is and how Enron used hedging in its financial strategy. But first, let’s clarify the very basic terms of securities. Security positions are referred … Continue reading
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Joe Hirko’s Sentencing
Joe Hirko looked exhausted at his hearing this morning. Still good looking, of course, but tired, like he’d been up all night. I felt like I was still asleep. I just kept thinking… it’s a dream. It isn’t happening. But … Continue reading
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Joe Hirko Gets 16 Months In Prison
Joe Hirko, CEO of Enron Broadband Services, was sentenced to sixteen months in prison. I did not want to write this and I have nothing else to say about it right now. Later, when the grey dull sickness passes, maybe … Continue reading
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Today In Enron History
Today in 2006, Andy Fastow, the former CFO of Enron Corp., was sentenced to six years in prison. Fastow pleaded guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit securities fraud, and … Continue reading
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The Enron Play
Credit where credit is due…. this actually looks pretty good. There is something “Jeff-like” about that actor – at least in the first scene. The scene where he says, “They’re standing around celebrating their ignorance,” no, that’s not Jeff-like at … Continue reading
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Another Insider Trader The EFT Wasn’t Interested In Prosecuting
Oh lookie, this evening I found more confessions of insider trading. I guess if it’s not going to be prosecuted anymore, we can all do it, right? I have written about David Reece before so I guess this is a … Continue reading
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Ken & Linda Lay’s Condo For Sale
The Chron has the scoop — sort of. The article speculates about almost everything, from what the interior looks like to why Mrs. Lay is selling. And it has this weird sentence about Mrs. Lay: She grieved when he died. … Continue reading
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Enron The Movie
I’ve avoided discussing this because it annoys me. But Perez Hilton is even talking about it so I guess I need to at least mention it lest I appear to be oblivious. Via Perez: The sold-out show is doing so … Continue reading
Cliff Stricklin: Whiny Little Bitch
As I peruse some of the official record of the Broadband Trial, I noticed an exchange which makes me want to karate chop Cliff Stricklin in the face. Here’s the setup: During a pre-trial conference, David Angeli, Hirko’s attorney, is … Continue reading
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Enron Conpiracies: How Stupid People Like To Spend Their Time
I fucking hate Enron conspiracies. I don’t allow those Enron conspiracy nuts to post comments on my blog, I don’t answer their emails, and I ban them for life. In the entire time I’ve been blogging about Enron, I have … Continue reading
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LA Times: Enron Knew How To Throw A Party
A blogger at the LA Times had a funny way of describing an Emmy party: HBO’s Emmy parties have become the stuff of legend over the years and last night’s over-the-top affair was no exception. It might as well have … Continue reading
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The Kevin Howard Case Explained
The original broadband trial involved five defendants: Joe Hirko, Rex Shelby, Scott Yeager, Michael Krautz, and Kevin Howard. The “Broadband Three” are Rex Shelby, Scott Yeager, and Joe Hirko. These guys were all involved in the technology of the company. … Continue reading
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Honor Matters
In seven years of courts, crises and trials, the Broadband Three never turned on each other. The DOJ tried mightily to get them to finger each other as the bad guy. For instance, in Joe Hirko’s 302 Notes, the FBI … Continue reading
Filed under Enron Broadband Services
