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Ruud van Nistelrooy enjoys winning start with LeicesterHOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001. If its return is comedic, some who lost everything in Enron’s collapse aren’t laughing. “It’s a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?” said former Enron employee Diana Peters, who represented workers in the company’s bankruptcy proceedings. Here’s what to know about the history of Enron and the purported effort to bring it back. Once the nation’s seventh-largest company, Enron filed for bankruptcy protection on Dec. 2, 2001, after years of accounting tricks could no longer hide billions of dollars in debt or make failing ventures appear profitable. The energy company’s collapse put more than 5,000 people out of work, wiped out more than $2 billion in employee pensions and rendered $60 billion in Enron stock worthless. Its aftershocks were felt throughout the energy sector. Twenty-four , including , were eventually convicted for their roles in the fraud. Enron founder Ken Lay’s convictions were vacated after he died of heart disease following his 2006 trial. On Monday — the 23rd anniversary of the bankruptcy filing — a company representing itself as Enron announced in a news release that it was relaunching as a “company dedicated to solving the global energy crisis.” It also posted a video on social media, advertised on at least one Houston billboard and a took out a full-page ad in the Houston Chronicle In the minute-long video that was full of generic corporate jargon, the company talks about “growth” and “rebirth.” It ends with the words, “We’re back. Can we talk?” Enron’s new website features a company store, where various items featuring the brand’s tilted “E” logo are for sale, including a $118 hoodie. In an email, company spokesperson Will Chabot said the new Enron was not doing any interviews yet, but that “We’ll have more to share soon.” Signs point to the comeback being a joke. In the “terms of use and conditions of sale” on the company’s website, it says “the information on the website about Enron is First Amendment protected parody, represents performance art, and is for entertainment purposes only.” Documents filed with the U.S. Patent and Trademark Office show that College Company, an Arkansas-based LLC, owns the Enron trademark. The co-founder of College Company is Connor Gaydos, who helped create a joke conspiracy theory that claims all birds are actually surveillance drones for the government. Peters said that since learning about the “relaunch” of Enron, she has spoken with several other former employees and they are also upset by it. She said the apparent stunt was “in poor taste.” “If it’s a joke, it’s rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees,” Peters said. Peters, who is 74 years old, said she is still working in information technology because “I lost everything in Enron, and so my Social Security doesn’t always take care of things I need done.” “Enron’s downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron’s legacy was the employees in the trenches. Leave Enron buried,” she said.
PWHL Roundup: Charge rout Fleet, Frost edge Sirens in pre-season playMike McCarthy makes clear statement over Dallas Cowboys future as Jerry Jones locker room interaction is spotted by fansMEXICO CITY (Reuters): Amid a fresh wave of violence, Mexico’s President Claudia Sheinbaum has sent her security chief and thousands of troops to stem a bloody escalation of drug cartel crime in Sinaloa state, signaling a shift in security strategy in the Latin American nation. On the campaign trail, Sheinbaum had promised to largely continue the security policy of her mentor and predecessor Andres Manuel Lopez Obrador, which prioritized addressing the root social causes of crime rather than attacking the cartels – an approach nicknamed “hugs not bullets” after a catchphrase of the former president. But initial signs from her first months in office suggest a more aggressive approach with the most substantial deployment in at least six years of military and naval troops, as well as special forces and heavy weaponry to Sinaloa since an intra-cartel war broke out in September. High-profile arrests and large drug seizures have followed, including a record bust of over a ton of fentanyl. That more front-footed strategy could align well with President-elect Donald Trump, who has called on Mexico to do more to stop the flow of drugs, and migrants, to the U.S. But it also risks further inflaming violence and homicides, as a more confrontational position has done in the past in a country where cartels are heavily armed with military-grade weapons. Sheinbaum’s office did not reply to a request for comment. “There is a change without a doubt ... we are seeing signs that the strategy of hugs and not bullets is on the way out,” said Vicente Sanchez, a security expert and member of Mexico’s National System of Investigators, a government agency that works to improve the quality of Mexican research. Security experts said they believe the new strategy is partly a response to Trump’s threat to impose 25 percent tariffs on products from Mexico if the country does not curb drug trafficking and the illegal crossing of migrants into the United States. Some have also taken it as an indirect admission that Lopez Obrador’s less confrontational strategy did not work, with many experts saying it helped organized crime groups entrench power in vast swaths of the country. The U.S. ambassador to Mexico, Ken Salazar, publicly criticized the approach, saying it had “failed” and “Mexico is not safe.” MILITARY TO THE STREETS Some security experts have drawn comparisons between the operations in Sinaloa and the military war waged on the cartels by then-President Felipe Calderon in 2006. That triggered a spiral of violence to which many analysts trace the continued high homicide rates Mexico. The United Nations has repeatedly criticized the use of the armed forces in the fight against crime in Mexico, arguing that it encourages human rights violations. The Mexican government denies that security in the country has been militarized or that human rights abuses are common. Key to Sheinbaum’s crime-fighting strategy is her new security chief Omar Garcia Harfuch, an experienced policeman who worked for the president while she was mayor of Mexico City. Sheinbaum sent Garcia Harfuch to Sinaloa to oversee operations. “We know how difficult it is to pacify the country,” he said last week after an investigator from his ministry was killed in Sinaloa. The confrontation between rival groups in Sinaloa, which intensified on Sept. 9, has so far killed some 650 people, with more reported missing. In an attempt to contain the conflict, the local security chief was replaced by a military officer over the weekend. In the same week, at least three soldiers were killed by land mines laid by organized crime in two separate locations in the western state of Michoacan. For some experts there is a danger if Sheinbaum seeks to replicate her strategy in Sinaloa across the country. “Each one (criminal group) has its own personality, its own mark, and we have to find the part that hurts them,” said Tomas Guevara, an expert on security issues in Sinaloa.
By TOM KRISHER, Associated Press DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.
Global campaign to end violence against women continues