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HOUSTON (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 former employees 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 Enron executives , including former CEO Jeffrey Skilling , 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. This story was corrected to fix the spelling of Ken Lay’s first name, which had been misspelled “Key.” Follow Juan A. Lozano on X at https://x.com/juanlozano70
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Could comeback spark winning streak for West Virginia or NCCU?Mikael Thalen is a tech and security reporter covering social media, data breaches, hackers, and more.Could comeback spark winning streak for West Virginia or NCCU?
Caprock Group LLC lifted its position in shares of ContextLogic Inc. ( NASDAQ:WISH – Free Report ) by 859.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 98,243 shares of the company’s stock after buying an additional 88,000 shares during the quarter. Caprock Group LLC’s holdings in ContextLogic were worth $535,000 at the end of the most recent quarter. A number of other hedge funds have also recently bought and sold shares of WISH. Jacobs Levy Equity Management Inc. lifted its stake in shares of ContextLogic by 61.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 355,129 shares of the company’s stock worth $2,021,000 after purchasing an additional 135,692 shares during the period. SG Americas Securities LLC acquired a new position in shares of ContextLogic during the 2nd quarter valued at $519,000. Vanguard Group Inc. lifted its stake in shares of ContextLogic by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,194,834 shares of the company’s stock worth $6,799,000 after purchasing an additional 54,834 shares in the last quarter. AYAL Capital Advisors Ltd lifted its position in ContextLogic by 560.7% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 679,028 shares of the company’s stock worth $3,483,000 after acquiring an additional 576,259 shares in the last quarter. Finally, Capricorn Fund Managers Ltd boosted its stake in shares of ContextLogic by 1,210.6% in the third quarter. Capricorn Fund Managers Ltd now owns 220,000 shares of the company’s stock valued at $1,199,000 after purchasing an additional 203,214 shares during the period. Institutional investors and hedge funds own 46.05% of the company’s stock. ContextLogic Price Performance NASDAQ:WISH opened at $6.96 on Friday. The stock has a market cap of $169.81 million, a P/E ratio of -0.58 and a beta of 2.09. ContextLogic Inc. has a 1-year low of $3.55 and a 1-year high of $9.90. The firm has a 50-day moving average of $6.06 and a two-hundred day moving average of $5.70. ContextLogic Company Profile ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects consumers to merchants. It also provides marketplace and logistics services to merchants. ContextLogic Inc was incorporated in 2010 and is headquartered in San Francisco, California. Featured Articles Want to see what other hedge funds are holding WISH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ContextLogic Inc. ( NASDAQ:WISH – Free Report ). Receive News & Ratings for ContextLogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ContextLogic and related companies with MarketBeat.com's FREE daily email newsletter .LOS ANGELES (AP) — Southern California quarterback Miller Moss is entering the transfer portal after losing the Trojans' starting job last month. Moss made his announcement on social media Monday. Moss started the Trojans ' bowl victory last season and their first nine games this season before coach Lincoln Riley replaced him with Jayden Maiava in early November. “Being a USC Trojan was a lifelong dream of mine,” Moss wrote. “Putting on the cardinal and gold and competing on behalf of my teammates and school is something I will forever take pride in. I poured everything I have into this — body, heart, mind and soul — and am humbled by and proud of what my teammates and I accomplished.” Moss, who was born in Los Angeles and went to high school in the San Fernando Valley, signed with USC before Riley arrived at the school. Moss also stayed with the Trojans after Caleb Williams transferred from Oklahoma to rejoin Riley, and he served as Williams’ backup for two seasons before getting his chance to play with six touchdown passes in last year's Holiday Bowl. Moss completed 64.4% of his passes this season for 2,555 yards with 18 touchdowns and nine interceptions. After a spectacular 378-yard performance to beat LSU in the Trojans' season opener, Moss didn't play poorly as a starter, but he also wasn't a difference-maker while USC stumbled to a 4-5 record. Moss threw seven interceptions in his final five starts before losing the job to Maiava. The Trojans went 1-4 in that stretch under Moss, who plays as a more traditional pocket passer while Maiava has the mobility usually favored for quarterbacks in Riley's spread offense. “Looking towards the future, I'm unwaveringly committed to becoming an even better quarterback and leader, and to achieving this at the next level,” Moss wrote. Moss has already graduated from USC, putting him in the portal as a graduate student. USC (6-6) is headed to a lower-tier bowl game again to finish this season, its third under Riley. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
Joe Biden's pardon of his son Hunter spurs broader discussion on who else should be granted clemencyUSC QB Miller Moss enters transfer portal after losing starting job to Jayden MaiavaDaniel Penny doesn't testify as his defense rests in subway chokehold trial
Five Below Stock Rises Ahead Of Q3 Earnings: Retail’s CautiousDETROIT (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.
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A small asteroid was visible in northern Siberia on Tuesday, as it closed in on its collision course with Earth. It's first of two expected flybys this week. The European Space Agency issued an alert for the 27-inch asteroid at 4:27 a.m. ET, with the agency saying the celestial rock would create a visible fireball in the sky but that "the impact will be harmless." The asteroid, temporarily named C0WEPC5, has become Earth's fourth detected asteroid strike of the year and just the 11th of all time. Detected strikes are known as "imminent impactors," according to the Kitt Peak National Observatory in Arizona, which identified the fast-moving asteroid ahead of its arrival. The space rock entered Earth's atmosphere at 11:15 a.m. ET over Yakutia in northeastern Siberia, creating a massive fireball witnessed by people in the region, according to the agency. Video posted to social media on Tuesday shows the bright, fast-moving fireball darting through the sky before dissipating. It's currently unknown how much, if any, of the asteroid debris landed on Earth. Flyby asteroids are common, and astronomers' ability to detect them has rapidly increased with technological advancements. According to NASA , 132 known asteroids have passed closer to Earth than the moon is since October 2023. Overall, there have been upward of 36,000 asteroid flybys, the agency reported. Adding to the solar system show this week, another asteroid, known as 2020 XR, will fly by Earth at 12:27 a.m. ET on Wednesday, according to NASA's Jet Propulsion Laboratory . Significantly larger but much farther away from impact than Tuesday's asteroid, 2020 XR is approximately 1,200 feet in diameter -- roughly the same as the height of New York City's Empire State Building -- but will pass Earth at a comfortable distance of 1.37 million miles, according to NASA. While the massive asteroid will unlikely have any impact, and is not considered a threat by officials, NASA designates any object that comes within 4.6 million miles of Earth as "potentially hazardous."
LOS ANGELES (AP) — Southern California quarterback Miller Moss is entering the transfer portal after losing the Trojans' starting job last month. Moss made his announcement on social media Monday. Moss started the Trojans ' bowl victory last season and their first nine games this season before coach Lincoln Riley replaced him with Jayden Maiava in early November. “Being a USC Trojan was a lifelong dream of mine,” Moss wrote. “Putting on the cardinal and gold and competing on behalf of my teammates and school is something I will forever take pride in. I poured everything I have into this — body, heart, mind and soul — and am humbled by and proud of what my teammates and I accomplished.” Moss, who was born in Los Angeles and went to high school in the San Fernando Valley, signed with USC before Riley arrived at the school. Moss also stayed with the Trojans after Caleb Williams transferred from Oklahoma to rejoin Riley, and he served as Williams’ backup for two seasons before getting his chance to play with six touchdown passes in last year's Holiday Bowl. Moss completed 64.4% of his passes this season for 2,555 yards with 18 touchdowns and nine interceptions. After a spectacular 378-yard performance to beat LSU in the Trojans' season opener, Moss didn't play poorly as a starter, but he also wasn't a difference-maker while USC stumbled to a 4-5 record. Moss threw seven interceptions in his final five starts before losing the job to Maiava. The Trojans went 1-4 in that stretch under Moss, who plays as a more traditional pocket passer while Maiava has the mobility usually favored for quarterbacks in Riley's spread offense. “Looking towards the future, I'm unwaveringly committed to becoming an even better quarterback and leader, and to achieving this at the next level,” Moss wrote. Moss has already graduated from USC, putting him in the portal as a graduate student. USC (6-6) is headed to a lower-tier bowl game again to finish this season, its third under Riley. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
End of an era: Deion Sanders reflects on coaching sons before Alamo Bowl vs. BYUHalf of Australians live with chronic health conditions, over a third forced to leave their jobs as a result
Could comeback spark winning streak for West Virginia or NCCU?The Kansas Jayhawks scored on every possession in the first half on Senior Day against the Colorado Buffaloes, but some end-of-drive mistakes have left too much on the table. The home team leads at the half 23-14 after holding the ball for 21 of 30 first half minutes. Here are three things that stood out to me from first half play: No Backing Down The Jayhawks came into this game feeling good about themselves with the improvement in the back half of the schedule, but they are facing a supremely talented Colorado team. But it's clear in this one that Kansas isn't intimidated, and they are wanting to make sure the Buffaloes know it. There was no better example in the first quarter than when Doug Emilien stood his ground against Dominiq Ponder after running route. Colorado has looked flustered quite a bit already in this game, and the physicality and attitude of the Jayhawks has a lot to do with that. Ball Control, Need to Finish Kansas is absolutely destroying the Colorado defense, but a few missteps in the red zone has cost them a total of 12 points already. Some poor running on a first quarter trip and then two bad incompletions late in the first half both killed excellent touchdown opportunities. The Jayhawks are dominating time of possession and limiting the chances that Shadeur Sanders has to affect the game, but they can't afford to keep leaving points on the table. The final drive of the first half was very Kansas-esque for the Colorado defense, but three poor plays on 1st and goal fro the 3 to end the half destroyed another Kansas chance for a touchdown. Travis Hunter Deserves the Heisman Much like Devin Neal is the guy that can break one at whatever moment that is needed for the Jayhawks, Hunter has absolutely been the catalyst for basically everything the Buffaloes have done here. He weaved his way through the Kansas defense for a 51 yard score, and he has been able to get open all over the field. On defense, he hasn't had as big of an impact, but the only really big play that went against him specifically was a 15-yard Jalon Daniels run late where he collided with the referee. He has absolutely put on a show and it's easy to see in person why he should be the runaway favorite for the Heisman trophy.
A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said this month that at least eight telecommunications companies, as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, the deputy national security adviser for cyber and emerging technologies, told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China's hacking sophistication. The hackers compromised the networks of telecommunications companies to obtain customer call records and gain access to the private communications of “a limited number of individuals." Though the FBI has not publicly identified any of the victims, officials believe senior U.S. government officials and prominent political figures are among those whose whose communications were accessed. Neuberger said officials did not yet have a precise sense how many Americans overall were affected by Salt Typhoon, in part because the Chinese were careful about their techniques, but a “large number" were in the Washington-Virginia area. Officials believe the goal of the hackers was to identify who owned the phones and, if they were “government targets of interest,” spy on their texts and phone calls, she said. The FBI said most of the people targeted by the hackers are "primarily involved in government or political activity.” Neuberger said the episode highlighted the need for required cybersecurity practices in the telecommunications industry, something the Federal Communications Commission is to take up at a meeting next month. “We know that voluntary cyber security practices are inadequate to protect against China, Russia and Iran hacking of our critical infrastructure,” she said. The Chinese government has denied responsibility for the hacking.WASHINGTON (AP) — President Joe Biden's decision to break his word and pardon his son Hunter has spurred a broader discussion about what else he should be doing with the broad clemency powers of the presidency before he leaves office in January, including whether he should be pardoning Donald Trump. Biden on Tuesday ducked questions about his son, ignoring calls for him to explain his reversal as he was making his first presidential trip to Angola . He dismissed shouted questions about the matter with a laugh during a meeting with Angolan President João Lourenço at the presidential palace, telling the Angolan delegation: “Welcome to America.” Biden was not scheduled to take questions from the press during his trip to Africa, and he has largely avoided interactions with reporters since President-elect Trump’s victory last month. Biden’s decision to offer his son a blanket pardon for actions over the past 11 years has sparked a political uproar in Washington, after the president repeatedly had said he would not use his extraordinary powers for the benefit of his family. Biden claimed that the Justice Department had presided over a “miscarriage of justice” in prosecuting his son, using some of the same language that Trump uses to describe his own legal predicaments. Biden's reversal drew criticism from many Democrats , who are working to calibrate their approach to Trump as he prepares to take over the Oval Office in seven weeks. There is concern the pardon — and Biden's claims that his son was prosecuted for political reasons — will erode their ability to push back on the incoming president’s legal moves. And it has threatened to cloud Biden's legacy as he prepares to leave office on Jan. 20. Hunter Biden is the closest presidential relative ever to be granted clemency, but other leaders have pardoned family members and close friends. Bill Clinton pardoned his brother Roger for drug charges after Roger Clinton had served his sentence. By the time Trump left office after his first term, he had issued 144 pardons, which included Charles Kushner , the father of his son-in law, Jared Kushner. He also pardoned fervent supporters Steve Bannon, Roger Stone, Paul Manafort, Michael Flynn and other people convicted in special counsel Robert Mueller’s Russia investigation. In the months after the 2020 election, Trump and his allies were trying to overturn his loss, a failed effort that culminated in the violent riot by his supporters at the Capitol on Jan. 6, 2021. There were discussions at the time over whether Trump would preemptively pardon some of those involved in the effort — and maybe even himself — before he left office. But that never happened. Now, Democrats are having similar discussions about preemptive pardons on their side because of Trump's rhetoric on the campaign trail. He's made no secret of his desire to seek revenge on those who prosecuted him or crossed him. He talks about "enemies from within." He's circulated social media posts that call for the jailing of Biden, Vice President Kamala Harris, former Vice President Mike Pence and Sens. Mitch McConnell and Chuck Schumer. He's also taken aim at Liz Cheney, a conservative Republican who campaigned for Harris, promoting a social media post that suggested he wanted military tribunals to punish her because she was guilty of treason. Sen. Ed Markey, a Massachusetts Democrat, said last week on Boston Public Radio that Biden might consider broad pardons to protect people against whatever wrath Trump may seek, but also as a way to move the country past this acrimonious and divided time. “I think that without question, Trump is going to try to act in a dictatorial way, in a fascistic way, in a revengeful first year at least of his administration toward individuals who he believes harmed him,” Markey said. Presidents enjoy expansive pardon powers when it comes to federal crimes . That includes granting clemency to people who have not yet been charged, as President Gerald Ford did in 1974 when he pardoned his predecessor, Richard Nixon, over the Watergate scandal. The decision at the time caused an uproar but has been seen in the ensuing decades as a move that helped restore order. Markey cited Ford's pardon as a way for the country “just to close that chapter and move on to a new era.” Biden could do the same, Markey said, to help the country move on “to an agenda that deals with the ordinary families.” Sen. Joe Manchin, the Democrat-turned-independent from West Virginia, took it a step further and suggested Biden should even pardon Trump for his efforts to overturn the 2020 election, federal charges that are now evaporating with Trump's upcoming return to the White House. “Why don't you go ahead and pardon Donald Trump for all his charges?" he said in an interview with CNN. “It would have gone down a lot more balanced. I'm just saying, wipe them out.” At the same time, Democratic lawmakers and criminal justice reformers are pushing Biden to grant pardons to broad groups of Americans. Democrats Ayanna Pressley, Jim Clyburn and Mary Gay Scanlon wrote to Biden on Nov. 20, asking him to use his clemency powers to "address longstanding injustices in our legal system, and set our nation on the path toward ending mass incarceration.” The letter, also signed by 61 others, suggested Biden could use his powers to send a powerful message of criminal justice reform and "rectify unjust and unnecessary criminal laws passed by Congress and draconian sentences given by judges.” “We encourage you to use your clemency powers to help broad classes of people and cases, including the elderly and chronically ill, those on death row, people with unjustified sentencing disparities, and women who were punished for defending themselves against their abusers,” they wrote. So far, Biden has pardoned 25 people. Most presidents tend to grant a flurry of clemency requests at the end of their terms, and it's likely Biden will do the same. White House press secretary Karine Jean-Pierre has said Biden is “thinking through that process very thoroughly.” Weissert reported from Luanda, Angola.