FW: New Enron methodology

I saw this the other day. The fun is just beginning.

bob

-----Original Message-----
From: Reeves, Leslie
Sent: Tuesday, November 20, 2001 12:45 PM
To: Hall, Bob M
Subject: FW: New Enron methodology

Had to share this one with you.

-----Original Message-----
From: Evans, Casey
Sent: Tuesday, November 20, 2001 10:50 AM
To: Dahlke, Andrea; Albrecht, Kristin; Vinson, Donald Wayne; Hiemstra, Nick; Reeves, Leslie
Subject: FW: New Enron methodology

now the jokes are starting....

-----Original Message-----
From: Jason Ervin <jervin@spinexp.com<@ENRON
Sent: Tuesday, November 20, 2001 10:14 AM
To: Casey Evans (E-mail)
Subject: FW: New Enron methodology

Subject: New Enron methodology
Enron Venture Capitalism
You have two cows.
You sell three of them to your publicly listed company, using letters of
credit opened by your brother-in-law at the bank, then execute
debt/equity swap with an associated general offer so that you get all
four cows back, with a tax exemption for five cows. The milk rights of
the six cows are transferred via an intermediary to a Cayman Island
company secretly owned by the majority shareholder who sells the rights
to all seven cows back to your listed company. The annual report says
the company owns eight cows, with an option on one more.