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Enron Mail |
Hi Tracy!
Man! What a revolving door lately! (Got your resume ready?) George George F. Vaughn Budget/Planning Analyst ExxonMobil Global Services Company GIS / Infrastructure Services / Americas & Global Operations / P&C 1301 Fannin #2080, Houston, TX 77002 Phone: (713) 656-4680 Fax: (713) 656-2076 e-mail: George.Vaughn@ExxonMobil.Com ----- Forwarded by George F Vaughn/B/Houston/ExxonMobil on 10/25/01 12:53 PM ----- George F Vaughn To: jlin@enron.com cc: 10/25/01 12:55 Subject: Would I buy Enron? PM Judy -- We're seeing Enron sell off just like a lot of other companies. The CEO (Skilling) and CFO (Fastow) have recently removed themselves and enough cash to remain comfortable for some time. There may be a good reason for the sell-off. Various accelerators on the way up could have turned into brakes on the way down. It looks like Enron has been bitten by too much leverage and creative financing -- recently it appears that there are contingent liabilities related to its water utility deals. There is a lot of off-balance sheet financing and potentially undisclosed risk. So I would not be surprised to see the stock continue to fall and not recover much unto perceptions are set right with investors. This isn't going to happen overnight. Anyway, I'm out of the stock market a) until AAA corporate bonds start to turn up, indicating increased prospects for corporate profitability b) until it's clear that the middle east blowup is under control c) maybe next year at this time - the 15 months from Oct - Dec before an election year are best for the stock market. I think there's still too much risk, prices are too high, and the bond market may be the best choice for a few more years. And I've been really, really busy. George George F. Vaughn Budget/Planning Analyst ExxonMobil Global Services Company GIS / Infrastructure Services / Americas & Global Operations / P&C 1301 Fannin #2080, Houston, TX 77002 Phone: (713) 656-4680 Fax: (713) 656-2076 e-mail: George.Vaughn@ExxonMobil.Com
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