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Topic: Enron Raptor

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	[No title]
		Raptors I, II and III were structured with a 6 month put on Enron stock to provide LJM2's return of and return on capital when the put expires.
		Raptor II was completed on July 3, 2000 and cash settled early on October 4, 2000 for $41.05 million.
		Raptor III was executed on September 15, 2000 and was cash settled early on January 26, 2001 for $40.5 million.
	www.usdoj.gov /enron/exhibit/03-07/BBC-0001/OCR/EXH027-00183.TXT (2381 words)

	Timeline of the Enron scandal - Wikipedia, the free encyclopedia
		Enron board of directors waive conflict of interest rules in order to allow Andrew Fastow to run private companies that do business with Enron.
		November 19 Enron announces the payment of a $690 million note is nearly due as a result of the descent of its credit rating.
		November 18 Enron announced that it was selling its subsidiary PGE to a group of investors headed by former Oregon governor Neil Goldschmidt and funded by Texas Pacific Group for $2.35 billion.
	en.wikipedia.org /wiki/Timeline_of_the_Enron_scandal (2571 words)

	Hoyle CPE - Enron
		Enron also used the 30,000 miles of pipeline the company owned as a right-of-way in which to install 15,000 miles of fiber optic cable to transport digital data when officials noted that capacity in a particular area was not met.
		Remember, Enron was an active participant in the derivatives market, so if it had made those same purchases itself all of the gains and losses from those trades and the changes in income would have to be reported in operating income because those investments would correctly be labeled as "trading" investment activity.
		Enron's use of Raptor as a "special entity" to transfer risky investment activity off the balance sheet was an accounting choice that is often labeled as "off-balance sheet financing." Usually such techniques are used to avoid the parent company booking a liability.
	www.hoylecpa.com /cpe/lesson001/Lesson.htm (3341 words)

	Enron Metatheatre:A Critical Dramaturgy Analysis of Enron’s Quasi-Objects by David M. Boje, New Mexico State ...
		Enron’s LJM partnerships are an example of quasi-objects, the hybrid of theatrics to economics that sustains fraud in ways that seduce spectators to suspend their disbelief.
		Enron’s quasi-object is ‘Enrononomics,’ a fictive-economics (an interpenetration of metatheatre and economics).
		Enron from 1985 to 2001 enrolled characters in an inscription of discourse (genres), in annual reports, gala parties and Presidential and gubernatorial inaugurations, and “trading floor” metatheatrics that disseminated a globalization of deregulation discourse in ways that colonized and appropriated local energy discourses in India, Dominican Republic, as well as Texas, Washington D.C., and California.
	cbae.nmsu.edu /~dboje/papers/enron_theatre_LJM.htm (9369 words)

	ENRON
		Though much of it concerns the close ties between Enron and partnerships that had not been disclosed to shareholders until recently, he said that what is new are the references to the $500 million generated to Enron by Raptor and the $800 million generated to Enron by Condor.
		Andersen is Enron's auditor, and the partner at the firm who oversaw the Enron account has been fired for directing the destruction of documents relating to Enron's financial statements.
		Raptor, which was financed and backed by Enron shares, appears to have been a vehicle that invested in publicly traded stocks.
	www.shockandawe.us /archives/Enron/020117b.htm (1212 words)

	Antenarrative Trajectory Dynamics Theory and Method by D. Boje Ph.D.
		Enron had 3500 subsidiaries and partnerships, and paid no income taxes in four of the past five years because it was able to transfer assets among 881 subsidiaries that were set up abroad in tax-sheltered countries.
		Murrell (2002) argues in Enron Disclosure Issues that, "Overall, Enron failed to disclose facts that were important for an understanding of the substance of the transactions." The Powers Report (2002) and subsequent reporting gives you some idea of the complexity of the the rhythms of partnerships opening and closing, and Enron's loans, unwindings, and buys.
		The Enron partnerships are contextualized and sustained in interpretive ambiguity in an ensemble of competing antenarratives.
	cbae.nmsu.edu /~dboje/enron/antetd.htm (5990 words)

	Thoughts on Enron: What Happened, Why, and How It Can Be Avoided Again
		Enron may have been just an energy company when it was created in 1985, but by the end it had become a full-blown OTC derivatives trading firm.
		Enron got the best of both worlds in accounting terms: It recognized its gain on the technology stocks by recognizing the value of the Raptor loan right away, and it avoided recognizing on an interim basis any future losses on the technology stocks, were such losses to occur.
		Enron disclosed that it used "value at risk" (VAR) methodologies that captured a 95 percent confidence interval for a one-day holding period, and therefore did not disclose worst-case scenarios for Enron's trading operations.
	www.fenews.com /fen26/enron2.html (8019 words)

	TESTIMONY
		Enron also paid several hundred million dollars in fees to investment and commercial banks for work on various financial aspects of its business, including fees for derivatives transactions, and yet none of those firms pointed out to investors any of the derivatives problems at Enron.
		Enron paid substantial fees to its outside law firm, which previously had employed Enron’s general counsel, yet that firm failed to correct or disclose the problems related to derivatives and special purpose entities.
		Enron noted in its most recent annual report that its “continued investment grade status is critical to the success of its wholesale business as well as its ability to maintain adequate liquidity.” Many of Enron’s debt obligations were triggered by a credit ratings downgrade; some of those obligations had been scheduled to mature December 2001.
	www.senate.gov /~gov_affairs/012402partnoy.htm (7983 words)

	Sherron Watkins eMail to Enron Chairman Kenneth Lay - itmWEB Feature - 01/20/02
		Enron entered into several equity derivative transactions with the Raptor entities locking in our values for various equity investments we hold.
		Raptor looks to be a big bet if the underlying stocks did well, then no one would be the wiser.
		Enron hedged New Power, Hanover and Avici with the related party at what now appears to be the peak of the market.
	www.itmweb.com /f012002.htm (2152 words)

	ENRON CORP
		Enron, was (from inception through July 2001) the managing member of the general
		Fastow as a non-executive officer of an Enron division.
		Enron recognized $3 million in revenue from an existing commodity contract.
	www.enron.com /corp/sec (4821 words)

	SEC v ANDREW S. FASTOW - Legal Case Documents
		The Commission is seeking disgorgement of all ill-gotten gains, including all compensation received subsequent to the commencement of the alleged fraud, civil money penalties, a permanent bar from acting as a director or officer of a publicly held company, and an injunction from future violations of the federal securities laws.
		This was done, according to the complaint, for self-enrichment and to mislead analysts, rating agencies, and others about Enron's true financial condition.
		As to Fastow's role in RADR, Chewco, and Southampton, the complaint alleges that Fastow secretly nominated certain of the owners of these entities, funded certain of their investments through undisclosed loans, collected undisclosed fees, and demanded and received under-the-table payments, including payments to himself and his family members disguised as yearly $10,000 non-taxable gifts.
	www.legalcasedocs.com /120/254/085.html (650 words)

	Raptors Explained? - In the Pipeline - Coverage of the Enron Trial
		Former Enron chief executive Jeffrey K. Skilling, on the stand for his second day of cross-examination, agreed.
		Though he has testified he was not entirely familiar with the mechanics of the Raptors.
		The biggest connection out here really is the ongoing litigation between the Snohomish County PUD and Enron, because Sno PUD was one of the utilities ripped off by Enron, and Enron just threw a real lowball settlement figure that Washington senator Maria Cantwell called insulting.
	blog.washingtonpost.com /enron/2006/04/raptors_explained.html (471 words)

	[No title]
		4.) Raptor was a partnership formed by Enron.
		What assets were transferred to Raptor by Enron?
		C.) require tax rebates for employees who lost pension money in the Enron bankruptcy.
	www.hoylecpa.com /cpe/lesson001 (268 words)

	Committee News Release: (Site not responding. Last check: 2007-10-30)
		Washington (April 2) — House Energy and Commerce Committee Chairman Billy Tauzin (R-LA) and Oversight and Investigations Subcommittee Chairman James Greenwood (R-PA) today released more than two dozen internal Andersen memos and e-mails related to the accounting firm’s Enron audits.
		“These documents were obtained by the Committee from Andersen, as part of our comprehensive investigation into the financial collapse of Enron.
		The Committee had planned to hold a hearing with Andersen personnel two weeks ago to discuss the matters referenced in these documents, which build on matters raised during our initial hearing with Andersen personnel in January.
	energycommerce.house.gov /107/news/04022002_527.htm (249 words)

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