Posted on 01/10/2002 4:25:01 PM PST by Dane
A Chronology of Enron Corp.
By The Associated Press (AP omissions corrected by the Free Republic, in blue),
A chronology of Enron Corp.:
July 1985 - Houston Natural Gas merges with InterNorth, a natural gas company based in Omaha, Neb., to form the modern-day Enron, an interstate and intrastate natural gas pipeline company with 37,000 miles of pipe.
1989 - Enron begins trading natural gas commodities. Over the years, the company becomes the largest natural gas merchant in North America and the United Kingdom.
This is where the 11 year gap begins.(Betty Curry(Clinton's secretary) must have had her foot on the taping machine for 8 years))
August 1993 - Clinton chief of staff Mack McLarty arranged an invitation for [Enron executive Kenneth] Lay to play golf with Clinton in Vail, Colorado. This date irritated Oscar White, chief executive of Coastal, another natural gas company that had helped the Clinton election campaign raise funding.
1994 - Kenneth Lay named head of the Governor's Business Council [Texas] by Ann Richards?
November 1995 - President Clinton pens note about Enron's India travails to chief of staff Mack McLarty
November 1995 - Enron, the world's largest natural gas company, announced Monday that it had signed an agreement to build a gas pipeline from Mozambique to South Africa, despite Mozambican protests over alleged political pressure from top U.S. officials... Earlier this month the Houston Chronicle carried a detailed report alleging that Anthony Lake, President Bill Clinton's National Security Adviser, the U.S. Agency for International Development (USAID), and the U.S. Embassy in Maputo, have pressed the Mozambican government to sign with Enron.
December 1995 through August 1996 - McLarty closely monitors Enron's $3 billion power-plant project in India
June 1996 - four days before India granted final approval to Enron's controversial $3 billion power-plant project, Enron gives $100,000 to President Clinton's party.
June 1999 - HEP [Hrvatska Elektro-Privreda (HEP), Croatia's state electricity board] signed a $175-million, 20-year power sales agreement with Enron, which was to construct a 240-megawatt (MW) natural gas combined cycle independent power plant at Jertovec.
December 2000 - Enron announces that president and chief operating officer Jeffrey Skilling will take over as chief executive in February. Kenneth Lay will remain as chairman. Shares hit 52-week high of $84.87 on Dec. 28.
August 2001 - Skilling resigns after running the company for just six months; Lay becomes CEO again.
Oct. 15 - Lay talks to Commerce Secretary Don Evans while Evans is in Russia leading a trade mission. Commerce officials say the call dealt with an Enron energy project in India and did not cover Enron's financial troubles.
Oct. 16 - Enron reports a $638 million third-quarter loss and discloses a $1.2 billion reduction in shareholder equity, partly related to partnerships run by chief financial officer Andrew Fastow.
Oct. 22 - Enron acknowledges Securities and Exchange Commission (news - web sites) inquiry into a possible conflict of interest related to the company's dealings with the partnerships.
Oct. 24 - Enron ousts Fastow.
Oct. 28 - Lay talks by telephone with Treasury Secretary Paul O'Neill to inform O'Neill of the financial problems facing the company, according to O'Neill spokeswoman Michele Davis. Davis said the two also talked on Nov. 8. She said Treasury officials could detect no ripple effects in financial markets from Enron's troubles and O'Neill did nothing to help the company.
Oct. 29 - Lay talks by telephone with Evans. A Commerce spokesman says Lay asked Evans if he could do anything to influence a decision by Moody's Investors Service to downgrade Enron's credit rating. Evans, after talking to the general counsel at the Commerce Department (news - web sites), determines it would not be appropriate to intervene in a decision by a private credit rating agency, according to Commerce spokesman Jim Dyke.
Oct. 31 - Enron announces the SEC inquiry has been upgraded to a formal investigation.
Nov. 8 - Enron files documents with SEC revising its financial statements for past five years to account for $586 million in losses.
Nov. 9 - Dynegy Inc. announces an agreement to buy its much larger rival Enron for more than $8 billion in stock.
Nov. 19 - Enron restates its third-quarter earnings and discloses it is trying to restructure a $690 million obligation that could come due Nov. 27.
Nov. 20 - Concerns about Enron's ability to weather its spiraling financial problems send the company's stock down nearly 23 percent to its lowest level in nearly 10 years.
Nov. 21 - Enron reaches agreement to extend $690 million debt payment.
Nov. 26 - Enron shares fall 15 percent, to $4.01.
Nov. 28 - Dynegy backs out of deal after Enron's credit rating is downgraded to junk bond status. Enron shares plunge below $1 amid the heaviest single-day trading volume ever for a NYSE or Nasdaq-listed stock.
Dec. 2 - Enron files for Chapter 11 bankruptcy protection; sues Dynegy for wrongful termination of merger.
Jan. 9, 2002 - Justice Department (news - web sites) confirms it has begun a criminal investigation of Enron.
Jan. 10 - The White House discloses Lay sought the administration's help shortly before the company collapsed. The company's auditor, Arthur Andersen LLP, says it has destroyed some Enron documents. Attorney General John Ashcroft (news - web sites), who received campaign funds from the company for his 2000 Senate race, recuses himself from the investigation.
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Feel free to jump in with updates to this, michigander. We can post it on its own when we have it more fleshed out. I notice that the PLTs that wrote this obviously biased drek were too ashamed to put their names on it. :-)
No question mark needed. Another article, from the Washington Post (which the Drudgereport referred to) had mention that Ken Lay was made head of Governor's Business Council by Ann Richards. Ken Lay was a contributer to Ann Richards campaign against George W. Bush for Governor of Texas.
URL is: http://www.freerepublic.com/focus/fr/606197/posts
And the title is:
Ann Richards put Ken Lay (head of Enron) in charge of G.B.C.
where G.B.C. stands for Governor's Business Council...
Your post was an excellent post. I was just following up...
I hope some news outlet fills in the blanks(years).If not, Republicans should do it. Given the way Enron was cozied up to the Clinton Admin.,and the closeness of the election, I would expect Enron made at least as many (and probably more) contributions to Gore and Demos than to Repubs.
Thanks for the post.
vaudine
The Democratic Senatorial Campaign Committee collected three checks from Enron totaling $100,000. When the committee received the checks, Senate Democrats were busy crafting an energy bill, their response to a national energy strategy proposed by the White House and passed by the Republican-controlled House.
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