35 Burst results for "Enron Enron"
The Dan Bongino Show
Kyle Seraphin: Personal Thoughts on How to Fix the FBI
"If you were in charge tomorrow kind of a king for a day like a proffer session but what you say in that proper that's it that's going to be gospel right What would you do to fix the FBI and bring it back to an organization we can all be proud of rather than sadly where we've come through now So I grew up in a household My dad was a marketing guy and there's a point when your brand is so tarnished that you got to rebrand it You got to just shut it down I don't think you could reopen an enron today like no one's going to go into that there And I think the FBI has done a thing that is maybe an insurmountable optical to their brand At least with half this country And so you know given the opportunity I would shut the thing down and I would move people into places where they belong you know potentially even open up just a pure straight law enforcement entity to do it But if we're not going to do that and I don't think there's any political will to do so Breaking off that domestic intelligence mission it has to go away and it can't be part of law enforcement That doesn't mean they can't communicate with law enforcement But you can't have people that were in my job who have a law enforcement oath a badge and a gun and the authorities to go do it You know doing intelligence work domestically It's incredibly dangerous and it's going to lead to overstep And there's something I'm going to leave you with which I think is really powerful I talked to a guy named George Hill the other day former NSA retired FBI analyst So he was an Intel guy And his statement to me is very profound I think it's the problem that we have in one sort of basic sense Before 9 11 the concept of national security meant to continuation of our federal republic and the protection of the constitution as its guiding document And after 9 11 on September 12th 2001 national security meant nobody dies from terrorism in America And that is an unsustainable goal because you end up with the Chinese state of welding people into their house and the padded room and giving them Netflix and giving them Amazon deliveries And then everybody has to just stay home and hide Because you just can't have freedom and overall 100% safety I think it's a really really interesting thing that Americans need to reflect on and decide how much risk are they willing to accept and they've got to accept more if they want freedom
Stuff You Should Know
"enron " Discussed on Stuff You Should Know
"Was apparently at a time where you could legally do that and not be indicted for it. But that was not a good look when it came out that Arthur Andersen was the auditors of this company were shredding tons of documents. And the SEC got wind of this and they said that they're going to start investigating. Finally, the special purpose entities that fast out had set up. And so enron fired fast out that same day. And I think that was in November or late October of 2000 2001. And right after that, on November 8th, enron said, hey everybody. Do you remember all of our, all that money we said we made? Going back to 1997, we're going to need to restate our earnings. One of the first things they did was they reported a $618 million loss for Q three of 2001. Q one, they posted a $406 million profit. Q two, a $404 million profit, Q three, a $618 million loss, so they finally came clean. They finally said this accounting is off, and this is how radically it's off. Yeah, I mean, if a company is restating their earnings for that period of time, at all, like a mistakes can happen, but that's a real bad sign. They almost got a lifeline in, I guess, late October of that year when they tried to merge with a company called Dina G incorporated. And that deal that deal fell apart on November 28th. They backed out of the deal. Dina G did. And then what is this four days later on December 2nd, enron filed for the largest chapter 11 bankruptcy in U.S. history. Up to that time, $65.5 billion company. Filed for bankruptcy. That just did not happen. If you had that kind of money, you could have a fire sale and sell off stuff for way less than you paid for it, but you could still survive.
Stuff You Should Know
"enron " Discussed on Stuff You Should Know
"Guess what, why? Because you should know. Let's have a little note. Okay, chuck, so one question that people might be asking is, how were these guys allowed to use this accounting and get away with it? Why were people even investing in buying shares of this company? When it was just so fraudulent and just ridiculously fraudulent too, not even subtly fraudulent. And the answer is the company was such a Wall Street darling that financial analysts would not understand what they were hearing on these earnings reports, but would still give it a stamp of like buy. The other thing that really, really helped was the banks Wall Street banks were very much complicit in this as well. And then the thing that helped the most was Arthur Andersen, the venerable 80 plus year old accounting firm. The oldest one in the country. Yeah, that was the third party accountant to enron. Was so cozy that they actually hired all of enron's internal auditing staff. Made them Arthur Andersen staff and then opened a 150 person office for enron in enron's own enron's headquarters. An Arthur Anderson office in enron's headquarters made up of former enron auditors. That's who was watching the show. And so Arthur Andersen had such a good reputation that because they were signing off on this because the Wall Street analysts are saying, yeah, to buy, people were just like, I'm buying. I'm buying and it kept the stock prices going up and up and up. Because nobody was paying attention enough. Yeah, there was one person in the dock that said that kind of crystallized it, which was like, I'm paraphrasing, but he was talking about the fact that when this kind of stuff pops up in corporations, like it's not like this, the en runs are everywhere. There is all kinds of malfeasance for sure in the corporate world, but he basically said somewhere along the way, it doesn't get this big because a legal team says you can't do this or your accountant say you can't do this or the bank say we can't get involved in this. And enron seem to be one of those sort of unicorns where every person along the way just zip their mouth shut, even though the numbers weren't adding up and was complicit in this. Right. And there is a trader that was interviewed in the documentary. You said it was ironic that enron's slogan was asked why. Why does something happen like that? Why can't we do it that way? And that this trader said, I didn't ask myself why, because I didn't want to know. I suspected things were weird or awry and I just didn't want to know because it was my job. I was making tons of money. And I think you could probably get that excuse out of just about anybody who is complicit in this large or small. But Arthur Andersen, that was the one that really, really helped things along. And as we'll see, they didn't manage to survive the scandal. Yeah, there were, oh man, that was that one part of the documentary where they were talking about fast styles, shell companies. And he was in a meeting that was secretly taped in there basically like, well, wait a minute, it looks like you're on the buying and selling sides of these transactions.
ToddCast Podcast with Todd Starnes
Rep. Ralph Norman: Sam Bankman-Fried and the Dangers of Crypto
"FTX, the cryptocurrency exchange, you've got them donating, or you got the federal government, Joe Biden sending tens of millions of dollars to Ukraine, Ukraine takes that money invest in FTX, and then FTX invest tens of millions of dollars in democratic candidates for the midterm elections. You want to be able to talk to the guy behind it all, Sam bankman fried, but just hours before he was supposed to testify, he gets arrested. Coincidence, sir? No, they did the right thing. I mean, this was intentional. It happened the stark thing Todd, it happened in basically 24 months, 24 to 26 months. Enron was over a ten year time frame. But no, it was sitting in the hearing and hearing the testimony about the fact that we think it's 80 billion in this loss is probably more no bookkeeping, no governor board that oversaw what Sam was doing. But no, it's a serious it's a serious fraud. And it shows you the dangers of cryptocurrency. And it shows you the other thing was apparent to me. People thought the MIT graduate fit major in physics very bright book wise, but you can't regulate honesty and you can't legislate morality. And to say he didn't do it intentionally, it's just laughable. And that's kind of what the hearing was all about. Are
AP News Radio
Bankman-Fried to face off with lawmakers over FTX collapse
"The former CEO of the failed cryptocurrency firm FTX will testify before a congressional committee. Sam bankman fried is scheduled to testify remotely from The Bahamas before the House financial services committee. FTX is crypto second largest exchange, and it filed for bankruptcy about a month ago after running out of money in the cryptocurrency equivalent of a bank run. Bankman freed is under criminal investigation by U.S. and bahamian authorities, also testifying his FTX currency, John rig the third. He has said in court filings, the financial conditions at FTX were worse than enron and prepared remarks, ray says the blame for FTX group's collapse appears to fall on a very small group of grossly and experienced and unsophisticated individuals who fail to implement virtually any of the systems or controls for a company entrusted with other people's money or assets. Ed Donahue, Washington.
The Doug Collins Podcast
FTX: Beyond the Headlines With John Berlau
"Quick detour here because you brought this up and I was just reading this this morning. This environmental government issue that we're talking about ASC stuff is there's a lot of concern among Wall Street right now, especially going into directors meetings and elections or directors and some of the rulings that they can't block the groupings of here's the directors that the company is pushing here, the ones that the activist, if you would push, is this something that, again, any sort of branches all from what semi free was doing, is this a concern on or is it just mainly just fear of companies, but is there a real concern that activists and others who are pushing these agendas could get footholds on some of these large boards buying more than others? There is a real concern and it's going to be on top of sarbanes oxley and you know which the rush through after enron, which I've written about and affected earlier and died Frank, it's going to mean less companies go public in the first place or only go public when they're very big and who loses out from that. You know, mom and pop investor. And again, these agendas are going to be at the expense of the financial well-being of Joe and Jane for four-o-one-ks. It was kind of two sides at the same time. They allowed the SEC allowed fraud and an ESG firm to apparent fraud in ESG firm like FTX to faster and they're having their encouraging all these agendas that harm investor return.
Bitcoin Magazine Podcast
"enron " Discussed on Bitcoin Magazine Podcast
"Street, one of the power brokers of Wall Street. And now they have a stain on their face BlackRock. Invested in this, like if I'm an investor with any product, that Tiger invested into or BlackRock invested into or rather those company, I forget this private equity firm. I'm going to be like, hey, is your due diligence that you did on this investment, the same due diligence process you ran on that Ponzi scheme that you all invested into and promoted? This is a really bad look on these firms. I haven't even quite gotten to grips yet with the legal contagion that's about to happen from the bankruptcy cases that are about to happen in the class action lawsuits that are going to happen. Somebody just sent me a DM talking about the what happened to Citi banks and JPMorgan share price after enron got caught. This is the level of fraud that we're dealing with. This is enron times two, like this is going to be how we still talk about the dot com era and enron really kind of was like the closing out of the dot com era if I'm getting my timeline right here. This is what the meme that's about to be created in mainstream culture about crypto
AP News Radio
New CEO Calls FTX 'Unprecedented' Mess in Filing
"The executive who cleaned up enron says FTX is even worse John ray the third has experienced dealing with corporate meltdowns He had to sort out the mess at enron when it failed Ray was named the new CEO at FTX following the dramatic collapse of the cryptocurrency exchange earlier this month In the filing he describes a complete failure of a multi-billion dollar business with compromise integrity with control concentrated quote in the hands of a very small group of inexperienced unsophisticated and potentially compromised individuals Ray says after the company's short billions of dollars was hit with the digital equivalent of a bank run only $740 million in cryptocurrency has
Mark Levin
Politico: Judge Tosses Obstruction Charge Against Jan. 6 Defendant
"But here's another one in Politico Judge tosses obstruction charge against January 6th defendant The judge ruled that ambiguities in the federal law required him to narrow the case against Garrett Miller Whose facing multiple felony charges connected to the attack on the capitol The federal judge has thrown out an obstruction charge about breaching the capital on January 6th a ruling that could reverberate across hundreds of cases Under the narrow interpretation judge Nichols ruled defendants can be charged with obstruction only if they directly attempt to affect a document record or other object on quote in order to hamper the ability of Congress to count electoral votes Nicole said that because prosecutors are not alleged that Miller took such direct action rather the department says he simply joined the large mob on January 6th The obstruction charge against and must be dismissed In other words you have to take specific actions Among the people nickel cited to bolsters interpretation as president Joe Biden the judge noted that Biden said the lawn question passed on 2002 following the enron scandal was aimed at making a crime to shred documents
Marketplace Morning Report with David Brancaccio
"enron " Discussed on Marketplace Morning Report with David Brancaccio
"This marketplace podcast is supported by pegasus adams. Pekka builds innovative technology solutions that eliminate business complexity. So your entire enterprise can work smarter faster and more efficiently pegase low code software will help you. Automate and simplify complicated. Processes get rid of time consuming manual tasks and solve customers problems in real time. You and your team will be free to focus on the work. That really matters. Are you ready to go. Find out more at pegu dot com slash marketplace. We're watching one documentary on marketplace themes each month for our econ extra credit project this time. It's enron the smartest guys in the room about the collapse of that darling of investors. The energy company enron enron's accounting was a work of fiction and unlike the mortgage crisis seven years after that senior executives did go to jail. I'm joined now by bethany. Mclean a financial journalist. Who was onto enron early. She co authored a book that very much informed. This oscar-nominated documentary were watching. We talk at a time here. That a big trial is going on about another apparent innovator accused of pulling the wool over the world's is thank you for joining us bethany. Thanks for having me. Do you see possible parallels to the blood testing machine company. Theranos i mean allegations are theranos was also fake it till you make it over there. Maybe fake it till you make it works for lots of companies but we don't get these scandals unless it all goes wrong. The interesting thing to me is what you hit on. Which is what is the line between a visionary in a fraudster and sometimes i think the only real difference is that the visionary is able to prevail through these periods where. They're faking it. And they're able to keep getting money from investors so that they can get to the making it's hedge and then nobody ever investigates to say. Yeah but for this period of time. They were actually faking it. When you look back to enron enron headed division called enron broadband. And that really was net flex ahead of its time and sometimes i think if enron had been able to keep getting money from the markets could enron have been net flicks. I don't know it's an interesting. It's an interesting question. Right gets to the whole culture of innovation now. The cfo fast. Oh went to jail. Enron's former ceo skilling went to jail the former and chairman. Ken lay was awaiting sentencing when he died. We didn't get to see similar scenes. Played up people going to jail after the mortgage crisis that came seven or so years after enron. Is it apples and oranges two different types of disasters now. I actually think it's apples and apples. I think the line between what happened at enron and what happened in the global financial crisis is much blurrier than people might think. Both were examples of lots of manipulating the rules and figuring out how to make money for themselves out of something that was pretty much destined to collapse and leave economic wreckage for a lot of others in their wake and both were arguably quite legal. There was just a different appetite for prosecution in the wake of enron. I think one part of it is that what happened. After enron actively scared the justice department from prosecution because they did successfully prosecute arthur andersen the big accounting firm. It went bankrupt. Destroyed tons of jobs and people said a wait. If we prosecute these big companies than a lot of innocent people at these companies lose their jobs so it'd be it maybe enron was the last of a breed where people go to jail if the company is big enough. I worry that it was. I think justices. It's not a lot of it. Depends on time and place in the appetite for going after things and so you'd like to believe that when something goes wrong the people who did bad things would pay the price for it. But i don't think that's the way it works. Bethany mclean is a financial reporter who was onto enron before most people co author of the book along with peter l. Kind entitled the smartest guys in the room. The amazing rise in scandal is fall of enron. Bethany always good to talk to you. Thank you so much for having me on one documentary film. A month on marketplace issues can watch along with us if you like by signing up for our econ extra credit newsletter if you haven't already that's marketplace dot org slash newsletters. I'm david brancaccio with our morning. Report from apm american public media..
America First with Sebastian Gorka Podcast
Julie Kelly Describes How Trump Supporters Are Being Turned Into Convicted Felons
"Kelley welcome to america. First one on one. Thank you for having me. One an intro. So i know the invoice in the mail. So what did you talk about. Yes there was a topic of your panel. Just a little snippet so the subject that i've been covering for the last several months as you know we've talked about is january six out of laughed and the biden regime the media weaponising it against not just the people who were there that day but everyone on the right by extension almost seventy five million trump voters and so How that investigation is accelerating and how it is ensnared now over six hundred americans and they have been even more. Recent arrests have not every week. There are new arrests so with the justice department. Continues this what. I call terror crusade. We could we probably jihad against maga. It is it is. I mean this is what you see. So that the panel discussion yesterday was vaccine mandates and then january six. You could see the convergence relation vaccine mandates The the hunt for the quote unquote insurrectionists criminalising conservatives is it not criminalizing conservatives and criminalizing dissent so that is really what they're doing now the vaccine mandates mandates et cetera. Et one thing But what they're really doing with the january sixth investigation Prosecuting people for trespassing adding felony charges. Keeping now about sixty people behind bars denied bail under pretrial detention dot by. Let's stop here. Sixty people who is any one of them charged with insurrectional revolution. Yeah so what are they challenged with. Julie mostly trespassing civil disorder conspiracy a felony charge. That's very common is obstruction of official proceeding. Which more the two hundred people face. That charges never been applied to a political protests. Ever and never was. It's a two thousand two statute that was posted. Enron that would stop people from interfering in congressional inquiries. It was never intended for people who walked in the capital when they were certifying electoral college. But this is the way that they are turning trump supporters in to convicted
Reality Life with Kate Casey
'The Inventor' Documentary Investigates the Rise and Fall of Theranos
"Week. Marks the beginning of the elizabeth homes trial the case. Us versus homes began on tuesday with jury selection. One of my most favorite documentaries on my all time. Favorite list is the inventor executive produced by academy award winner. Alex gibney who also did enron the smartest guys in the room and hbo's emmy winning going clear scientology in the prison of beliefs this. Hbo documentary investigates the rise and fall of theranos the one time multibillion dollar healthcare company founded by elizabeth homes in twenty four elizabeth holmes dropped out of stanford to start a company that was going to revolutionize healthcare in twenty fourteen theranos was valued at nine billion dollars making her touted as the next steve jobs. The youngest self made female billionaire in the world but just two years later. Theranos was cited as a massive fraud by the sec and its value is less than zero so if convicted elizabeth holmes faces up to twenty years in prison plus two point seven five million dollars in fines as well as restitution to be paid out to victims drawing on extraordinary access to never before seen footage and testimony from key insiders. The inventor tells a silicon valley tale. That was too good to be true. It examines how this could have happened. And who is responsible while exploring the psychology of deception
American Scandal
"enron " Discussed on American Scandal
"To make tricky s. p. e. appear totally legal but he didn't know where to turn until he came up with an ingenious solution he'd put up the money and just make it look like it. Came from outside. Investors leah who worked at enron at the time helped with the record keeping and the to make money off the deal later. They filed jointly and naturally neglected to declare the income of course when the enron task force found out. They threaten the couple with criminal tax charges. What happened next was predictable. He was the one they really wanted. So they said plead guilty right now and drop the charges against your wife fast outfield. They didn't have enough to convict him so he told them to go to hell. But after leah was indicted and it became clear the government would likely win fast. I realized he had to change his tune. His two young sons might grow up with both their parents behind bars. Fastow couldn't allow that prosecutors returned with a new offer cooperate and will unsurely does no more than a year. This time fast out took the deal. The judge amerson fast out pretends to listen..
American Scandal
"enron " Discussed on American Scandal
"No clothes walking straightens. In her seat she leans forward into the microphone and speaks directly. Yes i do believe that. That mr skilling and mr fastow along with two very well respected firms did dupe. Ken lay in the board. The saying around. Enron was that heads. Mr fastow wins. Tails enron loses And i was highly concerned that that Not only had the titanic at the iceberg. But we were already tilting. But jeff skilling has no opportunity to respond until he joins walk ins. And jeff mcmahon before a senate subcommittee twelve days later. Mr chairman distinguished senators My name is jeff skilling. I worked at enron for ten years spending my last six months there as ceo. I left the company in august of two thousand and one as i did when i appeared before congress. I want to apologize to all of those affected people for what enron has come to symbolize before we start. There are few things i think..
American Scandal
"enron " Discussed on American Scandal
"But we just don't see the criminal angle yet. We see it. More as a disclosure case call considers this but fbi special agent show ford projects. Well frankly. I think it's highly unlikely there's no criminal case given the speed and severity of enron's meltdown caldwell nuts. I agree the magnitude strongly suggests. There is a criminal case here but but obviously that doesn't mean anything until we can prove it so keep digging someone on their side is gonna slip up and when they do we'll be reading in los angeles reporter john. Ms wiler with the wall street journal types as fast as he can he cradles his phones handset against his shoulder trying to keep up with a voice on the other end of the line. He's not sure who he speaking to. But the man knows his stuff claiming to be an associate of andy fastow. The informant wants to remain anonymous. And that's fine with them schweiler. Before publishing he'll check all the facts with.
American Scandal
"enron " Discussed on American Scandal
"To hang your curtains you can even higher a proud organizer messy closet. Yep there are people in your city who specialize in that. I actually just downloaded the thumb tack up. And i could feel my apartment. Breathe of relief. Hello fresh paint and an ac unit that actually works on the thumb tack app. You can compare. Prices read reviews and chat with pros directly. When you found the right person. You can book them with just tap. All of those annoying projects will just disappear. Maybe it is a little magic. Download them tack and start your next project today from wondering. I'm lindsey graham and. This is american scandal distrusted by the banks abandoned by shareholders and ron's history of deception finally caught up with it on december. Second two thousand one. The day declare bankruptcy soon. After both investigators in enron's disgraced executives acted fast. Law enforcement officials worked to ascertain just what crimes company had committed. And who to hold accountable. Meanwhile and ron's most prominent leaders were looking for ways to turn the tables on their accusers. The outcome of this decisive legal battle will determine the personal fates of anti fast out..
American Scandal
"enron " Discussed on American Scandal
"After nine am in early december sherron. Watkins arrived at enron headquarters. She squeezes past local news. Crews as they set up tripods she takes home to gaze. The various cameras trained on reporters. Standing patiently with their microphones in hand. Ready to go live walking. Shakes her head. She never thought she'd lived to see the day. When the downfall of a corporation would attract the same level of coverage as a natural disaster she and hers and ron's main lobby. She expected a grim scene but nothing could have prepared her for this shell shocked former. Employees had towards the doors in a mass exodus their personal effects piled into cardboard boxes. Any of them have put their boxes on the seats of eight hundred dollar office chairs. They're wheeling out like shopping carts. Men and women weep openly the layoffs have begun walk walking systems. Sure where to go what to do or who to talk to. She's waiting for the elevator. When a man approaches she recognizes him. I can't remember from where as they step into the elevator. He reminds her that. He's one of the company's lawyers now that enron is bankrupt. He says with a smirk. It's lawyers are the only ones with job. Security walk ins wonders. Exactly what that means for her as the doors open to her floor. He tells her not to worry her job safe for another month at least walk ins asks. Why man raises his eyebrows. As if he's just been asked the dumbest question in the world and ron still needs her. He says she'll probably be asked to appear in court as lawsuits against enron begin to land in the coming weeks after all. You're the one who tried to warn. Lay the company was in danger right. You're famous
American Scandal
The Downfall of Enron
"After nine am in early december sherron. Watkins arrived at enron headquarters. She squeezes past local news. Crews as they set up tripods she takes home to gaze. The various cameras trained on reporters. Standing patiently with their microphones in hand. Ready to go live walking. Shakes her head. She never thought she'd lived to see the day. When the downfall of a corporation would attract the same level of coverage as a natural disaster she and hers and ron's main lobby. She expected a grim scene but nothing could have prepared her for this shell shocked former. Employees had towards the doors in a mass exodus their personal effects piled into cardboard boxes. Any of them have put their boxes on the seats of eight hundred dollar office chairs. They're wheeling out like shopping carts. Men and women weep openly the layoffs have begun walk walking systems. Sure where to go what to do or who to talk to. She's waiting for the elevator. When a man approaches she recognizes him. I can't remember from where as they step into the elevator. He reminds her that. He's one of the company's lawyers now that enron is bankrupt. He says with a smirk. It's lawyers are the only ones with job. Security walk ins wonders. Exactly what that means for her as the doors open to her floor. He tells her not to worry her job safe for another month at least walk ins asks. Why man raises his eyebrows. As if he's just been asked the dumbest question in the world and ron still needs her. He says she'll probably be asked to appear in court as lawsuits against enron begin to land in the coming weeks after all. You're the one who tried to warn. Lay the company was in danger right. You're famous
American Scandal
"enron " Discussed on American Scandal
"Yourself without the board's approval no as president of enron. Did you ever intentionally deceive the board or the company's investors with the use of misleading accounting documents no minor concentrates as he marched up the.
American Scandal
"enron " Discussed on American Scandal
"It's november nineteenth two thousand one and jeff mcmahon wonders. If this is how it feels to attend your funeral the waldorf astoria new york is heated of course but mcmahon's shivering as if he's outside on the snowy sidewalk man standing next to gregg wally their midway through a two hour presentation before an audience seventy-five lenders and two hundred bangers. The purpose of this presentation is to outline one by one. The challenges currently confronting enron mcmahon. And wally listened problems at a document and handed copies to all the attendees. It's sixty five pages. Long mcmahon and wally stick to the script they present themselves as the faces of the new enron. The old enron was purely earning string. Big man says with a deal shop mentality. The old enron justifiably earned it's dubious reputation as a black box as a result all creditor investor confidence has been lost. The company has no access to capital. It's debt has outpaced cash flow. it's lost too much. Money relied on. Faulty and misleading off-balance-sheet entities mcmahon promises enron has changed the new enron is dedicated to financial transparency open communication. There is no possibility that the executives and employees retained following the merger with dynegy will regress to the ways of old and ron mcmahon looks at the impassive faces of the bankers and lenders. He doesn't feel like anyone's buying this dog and pony show but he soldiers on he doesn't mention it here but he knows that this torturous day is far from over enron is scheduled to file its quarter report by nightfall and with it will come more admissions of guilt. Chuck watson will not be happy the following week. Ken lay arrives at another enron board meeting. Feeling point yes. The third quarter report landed with a thud last week. The company took a higher-than-expected loss of six hundred sixty four million and prospects looked him for the next quarter two of its. Sp's have more death assets. The debt collectors are demanding immediate payment of more than one billion dollars. Enron doesn't have that in its coffers. Chuck watson was furious when he saw the q. Three report and told lay that the only way he'd consider moving forward with merger now was if lay stepped away from the company once and for all but today lay has a plan. He has decided that he's not going to step down. And he thinks that watson will be okay with it. He believes that the light at the end of the tunnel is growing brighter and brighter. By the minute. He is convinced what he built is too strong too important. And simply to meaningful to america and the global energy business lay is one of the most well known corporate leaders in the world. Watson won't pass up and opportunity to acquire enron simply because lay wants to remain as chairman board members not in support lanes back in his chair. He believes he's pulled it off. Enron was pushed to the brink but because he held on dynegy will take over handle the debt and everyone will be able to move on as if two thousand one never happened. He reminds himself. The dynegy was always like enron's little brother short made money but never on enron scam. Watson was never on the cover of business magazines watson close with the bushes and shore and ron has its issues but with this acquisition watson can catapult himself into a whole other week he should feel grateful. Lay out the window at the surrounding skyscrapers. He's happy to be at the top of enron corporation. There's no place he'd rather be. It's morning on wednesday november. Twenty eighth when chuck watson calls ken lay. You was up until nearly midnight talking with banking officials. They all told him. Enron's debt load is beyond anything they could have anticipated and there will be no more loans which means enron can't borrow another dime from anyone in the world except dynegy but dynegy's not in the lending business when watson asked. Ken lay of there anymore. Shoes drop lay assured him there were none now the q. Three statement has led watson to conclude. Lay is stupid. Or liar and watson doesn't think lay stoop plus there are now rumours lay has changed his mind about stepping down and enron's ratings are in the toilet just morning. Snp downgraded and ron two notches. Moody's took snp's lead and downgraded enron as well fitch ratings followed suit. Everyone seems to agree. Enron is junk so watson keeps his conversation with. Ken lay short simple to the point. Can i've decided to terminate the merger. I'm disappointed this didn't work out. And i wish you the best of luck but if lays taken the news hard he doesn't show it. I'm disappointed to he replies motionless. I'll move onto our other alternatives. Watson hangs up..
American Scandal
"enron " Discussed on American Scandal
"It's late at night. And sharon walk ins in her kitchen again. Listening to a voicemail that jeff mcmahon just left on her machine. he's read her memo. He says they all hear her loud and clear but a massive restatement of earnings even if it's not related to core businesses will cause a major credibility issue with the investor community and in case she's not aware enron is already dealing with major credibility issues. Shareholders tend to be forgiving but not lenders. He says a restatement results in some nasty stuff. What he's getting at here. Is that a new guy. Might be able to come in and fix it all. That's a possibility but he's not so sure that the old guy can hang around and say whoops sorry for what i did. Things will be better from now. On mcmahon wants watkins to think about that. Watkins just stanton her kitchen. She knows he's right. Restatement of financial reporting is a confession of guilt companies. It all the time and survived but customarily the top management does not the executives admit. They were wrong and then they perform the corporate equivalent of harry carey. Walk ins hasn't realized until this very moment that should enron pursue recommended course of action. Ken lay and jeff. Mcmahon will both have to resign. Jeff skilling tried to escape but he couldn't you went to florida. His wife said the beach would help them relax but it was impossible to pick up a paper or turn on cnn without being reminded of the fact that enron was imploding. Skilling thought he'd be less depressed after he left the company and for a time he was. He thought that he was doing the right thing when he quit. Not just for himself but for enron he really believed that the bad stock price was obviously a reflection on his leadership. So it should have rebounded once he resigned. Lay return to the hell but enron's fortunes haven't improved things actually got worse now the. Sec is all over the company the idea that these people would criticize enron over a few stumbles with all the good. The company has done for the average consumer is outrageous. Meanwhile enron his emerging more and more cash every day there's a term for what's happening to enron death spiral skilling assure. That really is only one option. So he cuts his vacation short and charter jet back to houston after a few days. He's ready to make the call. Takes a deep breath picks up the phone dials and talks to ken. Lay can you gotta bring me back. He says he tells lay. He's been thinking about it long and hard and he can return as interim ceo consultant. He lay and company president. Greg wally will fly to new york immediately. And once they're skewing knows he can convince chase to offer enron alone the three to four billion dollar range. It's time to fire up the engine. Skilling says it doesn't dismiss the idea outright tells skilling he s ago and he'll considerate get back to them. Skewing just stands there feeling more alone than ever. He can't understand why they didn't jump the offer. All skilling wants what's best for the company and if that means returning he's willing to do it skilling frowns puts down the phone deflate in waller too blind to see that they need his help. Then this truly is. The beginning of the end for enron. American scandal is sponsored by sleep number. You like sushi. Your partner prefers she me no problem. You like rom coms. They liked sci-fi no problem but at the end of the day after cheerfully negotiating. All of your differences. You can't agree on this. Nine out of ten couples prefer different mattress firmness. But i found a way to compromise by going into a sleep number store. Sleep number beds adjust from feather soft to firm so you can set each side to the perfect sleep number setting for both of you. I tested several models and my sleep number three sixty i. Ten smart bet is arriving soon. 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American Scandal
"enron " Discussed on American Scandal
"Scandal is sponsored by audible. Chasing d'alene is a new investigative podcast hosted by veteran journalist. Vicky ward been covering the jeffrey epstein saga for nearly twenty years when ward i interviewed epstein in. Two thousand two. She didn't how close she came to uncovering the web of secrets. Wealth and connections that protected him for decades one of epstein's closest and concerning connection is disgraced heiress gallon maxwell epsteins ex-lover former employees alleged co-conspirator. Maxwell is now awaiting trial could hold the key to unlocking the truth behind epstein featuring new interviews as well as previously off the record. Insights chasing d'alene is a real life geopolitical thriller that will reframe and redefine the epstein. Saga chasing glenn is available exclusively on audible to start listening go to ottawa. Dot com slash. Chasing that's audible dot com slash chasing on october twenty. Third two thousand one. Andy fastow can see. The ken lay is beginning to crack under the pressure. Lay plods into the room. Sits down and rubs dark rings under his eyes. fastow's not sympathetic. Laid did this to himself. Maybe if they had promoted fas- out a coo. Instead of listening to sharon walk ins enron would be in better shape miserably lay sits at the head of the boardroom. Table set to begin. Another grim analysts. Call the pr department has written up an official explanation regarding the circumstances that led to the creation of algerian. It all sounds perfectly. Logical ron ashton. A fat lawyer from vienna chimes he proposes an edit that identifies fast hours the founder of the investment fund fastow can't contain himself. It was skilling. He screams everyone just stares at him. Even lay fast decides. Sit down the others. Do as well lay begins. The call lay tells those on the line that he's disappointed the stock prices so low especially since things were going so well. At the company pastel stifles a snort. Lay recites the prepared remarks regarding. Ljm it was an investment fund created counteract volatility related to various tech deals fastow voluntarily terminated his vomit with l. jam when it became apparent that his prominent position both in belgium and enron made some investors uncomfortable lay then adds that he has the highest confidence and fast down and thinks he's an outstanding cfo. It's a polite remark. Fastow acknowledges it with a flight not. It's his turn to talk now and keep things cheerful. No one needs to worry about. Enron's liquidity its banks still supported plus enron hasn't needed to dip into the three billion to keep socked away for emergencies lay asks if there are any other questions. Kurt launer of cfsp wants to see a balance sheet. When will it be available later. Shrugs the next balance sheet will be available at the usual time about a week or two after earnings are announced. Launer asks if the balance sheet can be distributed sooner lay says sure possibly and leaves it at that fast enroll says is. There's no chance of that happening. Dave fleischer from goldman sachs is next on the line and he doesn't it's words. The company's credibility is being severely questioned. He appreciates it's difficult for to go into details. But now is the time for full disclosure. There's an appearance that enron is hiding. Something make no mistake. And ron is in crisis and lay will need to have a conference call like this. Perhaps every morning from now on until investor confidence is fully restored lay holds up his hands and response. We are trying to be as transparent as we can. We are trying to provide information. We're not trying to conceal anything. We're not hiding anything. The next person to take over the conference call is richard grubman. Fast our remember some well. He's the guy that skilling called an asshole just a couple of months ago grubbing says that he did some calculations and think that enron correctly recognized all the losses taken when asterix went belly-up grubman says it appears enron took a bigger hit for mavericks than it's leading on chief accounting officer rick causey response and says that it's nothing to worry about enron created an. Sp called marlin designed to contain the asterix debt. So everything's fine. But grubman says he doesn't buy he's aware marlin and it has no value as an sp at all. Marlins simply does not have the financial resources required to cover the large debts generated by the failure of as arik causey begins to respond. But ken lay cuts him off. He tells grubman. I know you want to try the stock price down. And you've done a good job of doing that. But i think that's that let's move onto the next question. Fast down raises an eyebrow so the old man still got some fight left in him. Fast looks forward seeing how they will fare later that morning when he has to. Face enron employees lay enters. The houston. high in. The hotel's ballroom is packed. Wall to wall people that work for him. His crisis management team propose this they told lay. It was time to face employees directly to tell them that there was no reason to panic that enron would prevail like. It always has such reassuring. Words would mean a lot coming from the founder and ceo of the company lay weaves his way towards the podium. He tries to make eye contact with as many people as he can says. Good morning to each of them. He's going for confident. Convivial in control but the crowd is agitated to lay. They sound like a swarm. Angry hornets lay climbs steps that lead to the microphone then pauses momentarily. Usually at this point. He be greeted with thunderous applause and a standing ovation. But not today and runs workers. Sit and impatient silence. They're scared. And ron stock is trading at nineteen dollars. A share. Their retirement savings going up in smoke. They are desperate for a reason to believe in this company again so with a thoughtful non les surveys the crowd and begins good morning there. It is now. We've got a packed house. And i appreciate that now in any other circumstance i would probably have a few words to say to you regarding september eleventh on the many heroes. The roast the occasion on that awful day. But of course we're here to talk about enron because just like america's under attack by terrorism. I think we're under attack lay hold for applause but there is none which is odd. He thought that statement would get more. Support lay motion for enron president and ceo. Greg wally to approach the microphone may smiles. As wally lists enron's many business units and describes in detail the ways in which each unit is performing admirably lay. Takes over again. Thank you greg. Let's have a round of applause for greg wally..
American Scandal
"enron " Discussed on American Scandal
"It's august two thousand one. An enron ceo. Jeff skilling has left the building. sharon walking sits patiently outside rex. Rogers office she still can't believe the one energy trading company in america is heading into a hurricane and captain has abandoned ship. This tells walk ins few things as ceo skilling knows what she knows and resigned because enron engaged in illegal activity and will soon get caught. The irony of this is that watkins herself plan to the very same day. She pictured herself breaking the news to andy fastow than marching back to her office collecting her belongings walking out the front door never to return but skilling beat her to it the man businessweek put on its cover the man who had drunkenly declared i am enron at a company party. People don't know that the good ship enron spout the hit the shoals and skilling left them the face the consequences of what he done. He didn't try to make it right. He just ran away. The moment skilling announces resignation walk ins made a decision. She would do what she could to make this right. And that's why she wrote the memo. Sarah commit rex. Rogers is an enron attorney. Dour pale man with thinning hair. He does not offer to shake her hand. Dusty books and paperwork are stacked all around his office and it smells like mildew rogers clears his throat and begins. So you're the one. I'm the one. I'm sorry i don't think i please. You wrote the memo. Sorry but around here. Non mus would be whistleblowers. Don't stay anonymous was hard to trace this document to you. trust me. Rogers puts on his glasses and begins to read. Dear mr lay has enron become a risky place to work for those of us who didn't get rich of the last few years can we afford to stay. Skilling's abrupt departure will raise suspicions of accounting improprieties. And so on and so on. Rogers looks up briefly registers watkins astonishment and then continues skilling. Is resigning quote for personal reasons. But i think he wasn't having fun. Look down the road and new. This stuff was unfixable and would rather abandon ship now than resign. Shame in two years and on and on. I'm incredibly nervous. You said that we will implode in a wave of accounting scandal. Sharon was all this really necessary. Yes rex. I believe it was well. If that's true. How come rick. Causing andy fast. Out and general counsel. Don't think it's anything to worry about. Listening fastow's been enriching himself through. Ljm for years. That's a problem when his rafters collapse. The losses for enron will be enormous lay. Doesn't understand the danger facing the company and frankly rex sounds like you. Don't either. I really don't and i don't know what i'm supposed to do with all this what i would like. Rex's for you to arrange a face-to-face between me and lay. I can help him. I have a plan. I know we can save the company. You won't be easy. It won't be neat but we but we can do this. Enron employs nearly ten thousand people. They don't deserve to lose their jobs. And pensions and maybe everything they own over this masking for your help. Please rogers removes. His glasses leans in lowers his voice. Let me ask you something share. You really want to take your concerns. To lane. Vincent in elkins arthur andersen. They all signed off on these deals and the fast hours a smart guy. He knows what he's doing. He's not this croc you made him out to be. Why would he our accountants and our law firm risk. Everything they have on something. Only you say is illegal. Walk ins swallows. The answer is so obvious. She's embarrassed to say it out loud. They did it out of greed. Watkins realizes that she will receive no help from this man he will bury her concerned under one of the moldy stacks of paper in his office and deny she was ever here. She's at a dead end. She tried her best tried to redeem enron and failed tears of frustration. Earning her eyes. Rogers takes notice. She looks down. She senses that rogers taken aback. A hey sharing less. I do think you're blowing things a little out of proportion. But i'm not part of some sort of cover up if that's what you're worried about your important to this company share. If you wanna talk to ken lay. You're entitled to do it now or engine. Walk ins manages a tentative smile. I appreciate that rex. He stands. I have a meeting coming up. I walk you at the door. Roger stops and waits for her is to meet his. I need to warn you may may be a while before hear anything. These are sensitive matters and things take time walking. smile fades. Time is the one thing. And ron doesn't have american. Scandal is sponsored by malware. Bytes like your privacy. Tired of being tracked by ads for sites. You visited use public wifi at the coffee shop airport. Sounds like you could use. Malware bytes cyber protection for everyone maui. Bites is complete cyber protection that keeps all your devices and personal info safe from threats so you can shop play and connect online without a second thought and their privacy. Vpn takes your security to the next level. It's a super fast next gen. Vpn that protects your online privacy and secure your wifi it helps you become invisible to tractors eavesdroppers and cybercriminals so your private information like passwords bank details and even that surprise birthday gift stays private. Start your free trial of malware bytes privacy today at malware bytes dot com slash. Vpn american scandal is sponsored by claudio. Attention ecommerce founders entrepreneurs side hustler's marketers and growth hackers. If you're working round the clock to build your dream ecommerce business. You need an e commerce marketing platform that works just as hard as you do. That means unique. Clave you with clavijo. You'll delight customers and drive revenue at the same time with personalized email. An sms marketing campaigns. That you can design and send in minutes plus building. A marketing campaign is drag and drop easy. You can get started with your first campaign in under an hour and easily build from there with clave ios best-performing templates to get started with a free trial of you. Visit clave yo dot com slash. Listen that's k. L. a. v. i. Yo dot com slash. Listen from.
American Scandal
Enron: The Black Box
"Enron chief financial officer. Andy fastow was about to kill an alligator. That's what former enron ceo rich kinder used to call it. He said that enron's problems we're like alligators and to fix them. You had to get in the swamp kick out all the alligators than kill them. One by one fast. Al likes to remind himself of this every time. Someone at enron becomes a problem and when that happens. It's time to go alligators fast. Out gets out of his chair paces with each passing second. He gets a little angrier. Then there's a knock at the door. Today's alligator has arrived. It's open jeff. Mcmahon enters enron corporate treasurer glorified accountants more. Like it and fastow hates him. You wanted to see me andy. Yeah how'd you meeting with jeffco my meeting with killing the slip your mind. You don't remember speaking jeff behind my back and do we really have to do this. Your problem talk right now. Fine the current situation with l. J. m. is completely untenable is it. Yeah you're enron. Cfo but separately. You run j. An investment fund. That does all its business with enron. Yeah so so. This is a conflict of interest about bankers at maryland. I union calling me you've launched. Ljm two now and you want them to provide debt financing and you're threatening to pull enron's business altogether if they won't do it and also enron employees are telling me that when they negotiate with ljm. It strongly implied that if they fight for themselves too hard they'll be punished with negative performance. Reviews over at enron andy. This is completely out of control. Fastow clinches and unconscious his fist in feel the heat in his face knowing he's turning red wonders what would happen if he just hit mcmahon right here in the office he could probably get away with it.
American Scandal
"enron " Discussed on American Scandal
"Of millions of dollars a month to come next on american scandal. Enron plays games would california and the state descends into an energy crisis. Sharon watkins strikes a faustian bargain with andy fast down and jeff skilling learns to be careful what you wish for from under this episode one of enron for american scandal. If you like our show please give us a five star rating and leave a review and be sure to tell your friends follow. American scandal on apple podcasts. Spotify amazon music the wondering for wherever. You're listening right now. Listen ad free by joining one. Plus you'll also find some links offers from our sponsors and the episodes supporting them helps us keep offering our shows for free another way. You can support the show by filling out a small survey at one. V dot com slash. Servants tell us what topics we might come next. You can also find us and me on twitter search for hashtag american scandal. Follow me at lindsay. Adrian lindsey with an a middle english way. Be sure to listen to my other. Podcast to american history tellers and business. Movers a quick note about our reenactments in most cases. We can't know exactly what was said. But all are based on historical research if you'd like to learn more about enron. We recommend the books. Power failure by meany source was sherron watkins. The smartest guys in the room by bethany mclean and peter l. kind conspiracy of fools by kurt. I can walk and twenty four days. By rebecca smith and john m schwelm. American scandal is hosted edited and executive produced by me. Lindsey graham for airship sound designed by derek music by lindsey graham. This episode is written by hannibal. Ds our senior producer and editor karen. Low executive producers are stephanie. Jen's jenny lower beckmann and her non lopez for wondering for over one hundred years. General motors was america's automaker but after the two thousand eight financial crisis the storied car company. Nearly died hi. I'm lindsey graham host of wondering show business. Movers we tell the true stories of business leaders who risked at all the critical moments that define their journey and the ideas that transformed the way we live our lives in our latest series. An hr executive named mary barra rises to become general motors. First female ceo. Just in time to save the company from ruin. But as mary fights to lead general motors into the future tragedy strikes. Listen to general motors back from the dead from business. Movers on apple podcasts. Amazon music or the wondering. Join one re plus in the wondering how to listen at free..
American Scandal
"enron " Discussed on American Scandal
"Its december nineteen ninety-five and sharon walk in sits behind her desk and stretches. She's about to walk out to tell the young accounting associates that he can head home when he staggers through the doorway cradling stack documents as if it's a severed limb. He's in shock. Walk ins asked what happened. The associated overseas the interest rate books on the trading desk. He hedges the interest rate risk. So that ec trading position stays well balanced between losses and gains usually. The cash flow doesn't vary from day to day but today's different today. They're seventy million dollars missing from his rate book. Walk ins isn't ready to panic. She picks up the phone and calls the head of accounting her about the missing seventy million dollars. They count and tells walk ins not to worry sounding like an affable customer service rep and ron is doing just a little fine tuning and correcting of its books. The company made more money during the fiscal year than it actually needed. So it decided to move seventy million into next year's earnings book for now in early nineteen ninety-six the money will simply flow back into the young accountants. Records walk ins. Thanks the head of accounting for the explanation hangs up somewhat wilder and she explained to the young man what she was just. He's relieved watkins's disturbed. What the head of accounting just explained to her is earnings manipulation not really illegal but frowned upon and hidden from investors but enron didn't get to be where it is by being like the rest of the business world walk ins has to remind herself.
American Scandal
"enron " Discussed on American Scandal
"On. Tuesday august fourteenth. Two thousand one. The restaurant on smith street in houston is jam-packed with the lunch crowd sherron. Watkins looks around. She recognizes most of the faces of her coworkers at enron and. They seem oblivious. Walk ins has seen the numbers and she knows what they mean. The ship has hit the iceberg. It's sinking and there aren't enough lifeboats. She pushes her plate away having lost her appetite her friend. Cathy looks concerned. Sharon what's up you fairly touch your salad and expecting us back in fifteen. Can't keep the boss waiting. Walk ins. trust. Kathy lynn. A former enron vp. Now at the subsidiary. Ljm and she's a friend so watkins lowers for voice and leans across the table. Yeah about andy. Since june he's had me reviewing assets boring stuff but he's trying to figure out how to get some cash flowing in within the next couple of years. But here's the problem. We have these assets fiji hanover new power. All hedged with this financial entity called raptor to she'll losses right least the appearance of losses. Bow no raptors floral. We have several of them. So yeah i'm unfamiliar with the rapids. Well familiar with the fact that they lose hundreds of millions of dollars a year. Because i wasn't until i looked into it. Enron energy services sent two guys my office. They stood at a whiteboard and broke it down. Turns out these raptors lose money every day so to keep them afloat. Enron stuffing them with hundreds of millions of enron stock. Look sharon complex transaction yes but no if those raptors go bankrupt it could trigger huge losses for the l. jam division. I looked at last year. Statements guess what enron actually lost a half billion dollars but because those losses are hidden in the rappers no one knows not the stock analysts not the investors and cheeses fisting gets out sharing. It's okay all right. First of all the accountants arthur andersen they signed off. You've got kidding me. Yeah and even if the rappers do go bankrupt. And he doesn't care. He doesn't mean anything to l. gm he's structured the deal so he can pull all of his money out first. Sharon's head is spinning kathy. It matters to enron ljm and the raptors might not have anything risk but enron sure does and whoever else invested in these things any created if the raptors go bankrupt which they probably will all the money will be gone but lynn just shrugs the walk seated firmly in her chair. She feels like she's falling. She just told lynn her friend. That she's uncovered the worst accounting fraud. She's ever seen in. Linda shrugged as watkins looks around. Everyone's on their phone talking at once. All the people from enron and one by one the column drains from their faces then reaches for her own. She recognizes the number answers. Hello oh my god. What i sharon now yeah runaway then hangs up and swallows. Hard walk in leans forward. What is what happened jeff. he just resigned. Walk and stares back jeff. Skilling the ceo of enron one of the most famous corporate executives in history is abruptly done with the company. He helped build. he must know what walk ins house. And at that moment watkins realizes there can be no more rationalizations. No more procrastination. Her company is corrupt sinking fast. It's time for her to get out. American scandal is sponsored by clovio. Attention ecommerce founders entrepreneurs side hustlers marketers and growth hackers. If you're working round the clock to build your dream ecommerce business. You need an e commerce marketing platform that works just as hard as you do. That means unique. Clave you with clovio. You'll delight customers and drive revenue at the same time with personalized email. Sms marketing campaigns. That you can design and send in minutes plus building. A marketing campaign is drag and drop easy. You can get started with your first campaign in under an hour and easily build from there with clave ios best-performing templates to get started with a free trial of you. Visit clovio dot com slash. Listen that's k. L. a. v. i. Yo dot com slash list. American scandal is sponsored by priceline. It seems remarkable to say it but travel might be back and to celebrate. Priceline is having a huge sale. The freedom sale. I think of what that freedom could mean. A wise mount holyoke allah to maine's mount katahdin anywhere other than home. You can always get incredible deals on travel at priceline. Everyone knows that but right now there are even more deals plus get an instant twenty dollar discount on your flight hotel and rental car with coupon code freedom. Twenty only at priceline during the freedom sale of priceline every trip is an even bigger deal.
Kinda Funny Games Daily
Indiana Jones Bethesda Game - Official Teaser
"Enron this morning a little small indie company by the name of edessa decided to wake up in chooses violence. They've announced a new indiana jones game. I'm pulling directly from their twitter Kevin i have the twitter link. Create a poll up. If you wanna show the teaser that they tweeted out this morning for the indiana jones game between a follow up tweet reads like this. A new indiana jones game with an original story is involvement from our studio machine games. It'll be executive produced by todd howard in collaboration with lucasfilm games. It'll be some time before we have more to reveal but we're very excited to share today's news on those your reaction confusion because they didn't look rebrand yesterday and they're already like coming out swinging like i remember everyone thinking. I wonder if this means like indiana jones games like. Yeah maybe when they do movie sure but like i did not expect the day after they did. The rebranding like yeah. No lucas like indiana jones as well and machine games really good. Pick i would. I am excited for them to stretch our legs a little bit like get into different. Ip it like really see what they can do with this game.
Environment: NPR
What Stops Western States From Intentional Burning As A Way To Prevent Wildfires?
"A historically destructive wildfire season across much of the western US has renewed debate over intentional burns. Those managed wildfires would help clear forests and grasslands of dangerous levels of vegetation built up over decades of fire suppression. But experts say we will need to intentionally burn many more acres to get the West's wildfire problem check NPR's Eric Westervelt reports in Colorado three of the state's five largest wildfires in history have burned this year in California. Five of the biggest on record have occurred just since August fire colleges say that while people right now might not WanNa hear it. The most effective prevention strategy is to use. More, fire to fix the region's wildfire problem people might say that you know they're scared of doing for stripe fire but you know I'm scared what will happen in the next ten years if we don't prescribe fire, let's Kate Wilkin a fire a columnist with the Wildfire Interdisciplinary Research Center at San Jose state she recognizes how awful it's been for many in recent years people who've lost loved ones and homes the fear stress in smoke-filled air drifting hundreds of miles. But in terms of forest health will says California is supposed to burn. So in the state top four, million acres burned earlier this month Wilkin. Thought Wow. We're actually getting into the ballpark how many acres used to bring California just shortly remembers me four, point, four, million and twelve million acres to burn every year contrast. California in the last few years has intentionally burned just over fifty thousand acres on public lands federal and California officials recently signed an agreement to try to boost that significantly to treat about a million acres a year with combined thinning and controlled. Burns but critics say that's nowhere near enough to meet this moment Malcolm North is a research scientist with the US Forest Service. He says a major. To expanding controlled Burns is institutional inertia in these large risk, averse state and federal agencies like the one he works for it's not something in which incremental cautious decisions are going to solve the problem. So you need to have a cultural shift in the public's understanding about the inevitability of fire, but you also need a cultural shift within the agencies to be more supportive of the. USA Fire if historically flawed forest management is half the problem here battling most fire. The other half is the world's warming climate with hotter drier conditions igniting a century of built up fuel says Michael Warren with Stanford Woods Institute for the Environment. The problem has kind of turned from this thing that we can manage to a monster and taming that monster through intentional fire war says. is vital yet costly. It's estimated that thinning and prescribed burns can cost up to two thousand dollars per acre coming up with the money to do this at scale has always been a major obstacle we need to stained federal and state financial support. If we're going to have any hope of moving the needle other barriers to doing more intentional burns, include tough environmental rules and liability. Laws and then their safety. The vast majority of these fires are done without harm to people or property, but they're not risk free. For example, a Park Service controlled burn twenty years ago near Los Alamos New Mexico got out of control when high winds picked up some four hundred homes burned the federal nuclear lab. There was threatened withering criticism and congressional hearings followed the plan was flawed. The higher ups rubber-stamped it. The burn boss was not qualified to do fire this big that Los Alamos fire became the Enron of controlled Burns a rare but spectacularly, botched event whose effect is still felt today across federal agencies despite the long bitter fights in Washington over how to manage the nation's forests they're currently several bills in the US Senate would significantly boost federal funding for intentional fires. One of them even has some bipartisan support. Eric. Westervelt NPR news.
UN News
COVID-19:infections areworseningeverywhere, warnsUN agency for Palestine refugees
"Covid nineteen infections at bay among Palestinian refugees has never been so crucial as the new school year gets underway the UN. Relief. and Works Agency unrehearsed said in an interview with you and uses Daniel. Johnson. Agency spokesperson tomorrow I'll refi explains how the agency's put changes in place to try and keep safety five point six million people at AIDS across Jordan, Lebanon Syria, and the West Bank including East Jerusalem and the Gaza Strip. Well, Anura has just launched an appeal to raise funds for it to be able. To continue responding to the consequences of covid nineteen, the immediate emergency of course is a health emergency and making sure that the Palestinian refugee community and the staff are all safe. The other immediate emergency is making sure that the Palestinian refugee community has access to all the critical services that's on your what gifts them even though the way we deliver these services has changed. So for instance, needs to have access to medical services, but they can no longer come to the Anura health centers instead on health staff, proceeds through telemedicine and home delivery of. Drugs, right. So people are getting their essential health needs but I think what was most alarming about what you said over the weekend was that the number of covid infections really are starting to spike alarmingly could you make a bit more detail about that owner is very concerned about the spike in numbers of covid nineteen across the countries we work, and so we've seen a spike in the West Bank over the last few weeks but also a spike in Lebanon recently, spy can Gaza with until not very long ago was relatively contained. We also saw a spike in Jordan and Syria would the conflict we hear about. But there is very little data and information coming from there. So everywhere we work seems to be becoming worse and the point is that you're able to keep it at bay if you like the infections of this new corona virus, because you were helping some of the five point, six million registered Palestine Refugees in the middle, East with what they needed to stay at home and keep away from others. So therefore preventing transmission of the virus, but that has now changed because people just literally have to. Get back to work only able to contain largely the outspread of Covid nineteen because we were able to convince people to stay home convinced them meaning delivering to their homes, what they needed whether it's food assistance or whether it's medicine or whether it's distance learning the problem is when the situation took much longer than we thought people needed to go back to work and to their livelihoods Palestine refugees say things like we rather catch covid nineteen than go hungry. Yeah, and you can understand that you of course. You can understand that given the scale of the social economic impact of Covid, nineteen around the world it's only worse on vulnerable communities like refugee communities and in particular Palestinian refugee communities. Another element of your work is obviously education and I know that you commissioner general is very proud of the educational support that you give to what five, hundred thousand Palestinian refugee children. Maybe you could tell me about how they're back to school challenges have panned out whether they're doing remote learning the actually backing class the. Early, signs are all very exciting and very positive students across the fields we work at. Enron are extremely excited to go back to school. We're talking about half a million girls and boys in over seven hundred schools. We're talking about a big cohort of people and a bit cohort of people who work committed in the last academic year to continuing their learning even though it was remote and often difficult. When you're a Palestine refugee, you don't necessarily have an individual tablet and constant internet coverage and yet the. Students that went on learning. Last year was really high and this is something we are very proud of this year. We have several scenarios in place either the children go fully back to school physically while respecting social distancing in hygiene rules and everything where they have a blended approach. So they go for three days to school and they study remotely for three days. We also have a scenario in case the situation gets worse and we have another lockdown where students fully lauren remotely. So we're looking at all scenarios where prepared to mix and match just to continue education and what Would you say in terms of covid exposing the weaknesses of the system of you like we've seen all over the world it's exposed the frailties of already mentioned of people with chronic illness those who don't have a job with some welfare support. What would you say in the five the five areas under works East Jerusalem Gaza Strip Lebanon Syria the West Bank and Jordan let in every crisis. The most vulnerable are the ones who are most put to the test and in the case of Covid nineteen as you said, a lot of the weaknesses of difference systems whether it's health education. Welfare were tested however, some of the strengths of some institutions were also tested in the case of Anura because we have a very long and solid experience and education in emergencies for example, were able to shift very quickly to distance learning and to supporting students and families, and the teachers and the education staff to continue education the same for health services we do have that experience, which unfortunately we took from various wars and conflicts and emergencies, but it's an experience that's helped us well in this lockdown and closure face because of covid nineteen.
The CheapWineFinder Podcast
Two Angels Petite Sirah 2017
"This. Is Dave from. SHEEP WIND DOT COM. Come and again with another one. And this one is kind of an interesting one is this a? Ten dollar one. Or is it a twenty four, a gallery one? And the answer is depends on where you by. The. Angels. Petite Surat twenty seventeen, which I picked up at Costco. For Nine Ninety nine. You go elsewhere. Check the Internet out and it's selling for twenty, three, twenty, four, twenty, five. So it's like this is a ten dollar wine or is this the upscale wide? It's a petite derived from the Red Hills Aba in lake. County Lake County is due north of Napa Valley. And it's On the end of clear lake up there up about two thousand feet or more. From The Becker Mecca. Famous. Mountains I'm not quite sure where. But. It's high elevation, which is interesting. It's got You know the lakes helping things spot canucks soils. Really Cool. Groin area. It's one hundred percents. nine months in French Oh, twenty percent new. Is this deep dark rich bulbs, Bisi. Why it's kind of funny I'm drinking on a hot and sticky. August nights in the mood. A bit out of place but in about three weeks when it cools down at night. It's going to be just the wine you're looking for. And it's big bold. It's both silky smooth events ICS got tons of spies. Yeah And like I said, is this a one? There's this twenty, four dollar one. It's it's rich extracted. It's got a lot of flavors. Usually like the Tannin's and the acidity talk about that. But there's so much flavor they take back sheets everything that's going on. Off The teeth Sarah's kind of a weird grip kind of explain that a little bit. Back in the eighteen hundreds late eighteen hundreds, France at all sorts of problems with Pest and disease in vineyards, and when you're having problems with wine and France, it's a big problem. And the Sarah Grapes? Enron valley we're having some problems. So man named Europe. But Together With I think person? I'm it's a great that I think might be extinct nowadays or just almost never planet. To kind of create this hardy. Healthy. Sarai substitute. And by the time he did. The problems in the vineyard solved the no one wanted the. Ceron. Somehow showed up in Australia where it's called the roof. And California, and it wasn't a big wine from California until lately. It's everywhere. If you grab the Zinfandels, probably got some Petite Saran there and In other if you grab a red wine, it's the hidden member the. Used to. Flavor you. Come to expect. It always gives the wine a little bit of a boost unexpected boost. The teat psoriasis come into his own. This is a really, really nice petite up. that. If you feel like going upscale spend some money, well, you can go to any other store you want to. But if you want to spend ten bucks, go to COSCO and if you don't have a membership card, you talk to your neighbor does. Toss him twenty bucks or so and promise to share it with them. Drum breakdown. And you're in luck in I don't know what to say about this wine then it tastes great. Spice it's a big red wine. You like big boy red wines a big girl red I don't want to be. I don't WANNA be. Hurt anyone's feelings.
The Energy Gang
What Caused Californias Blackouts?
"What caused California's outages last week, short-term blackouts role the cross and overheated California as the grid operator said, there was not enough power to meet demand. This wasn't supposed to happen again not after the Enron scandal not after nineteen years of reforms we have a very different grid now and renewable skeptics including president trump are seizing on the. Incident what really happened then coal power in the US plunged thirty percent in just the first half of the year. What about Asia that's for eighty percent of gets burn. Now, what hope is there for a cold decline there and last the case for clean energy transition just keeps making itself when you look at new research on air pollution and combine it with cheap renewables turns out the health benefits alone pay for our energy changeover joining me to talk about these topics are my co hosts, Jigger Shah and Melissa Lot Jigger. Is the president of generate capital. Speaking of health benefits. How is your health today jigger? I'm feeling a lot better with the cool air of Deep Creek Lake in Maryland yeah, you have a new background behind you deep creek lake That's where you're vacationing. Yeah. You know it's still in Maryland. So I'm not violating quarantine issues with schools I mean it's crazy right? You can't actually leave the state you have to quarantine for fourteen days if you leave the state before your kid can go to school. Dr Melissa Lot is back with us. She's an Austin Texas. She's our guest co hosts in a senior research scholar at the center on Global Energy Policy at Columbia University. How are you? You seem to be enjoying the conversation you're still back for a third week in a row. Scared me off yet. So let's get now I seriously enjoying this a lot also will enjoy hearing. Catherine back at the live event next week. So that will be fun but things are good here in Austin it's it's hot. I will admit to being very jealous of one of my colleagues Kirsten Smith who's up in Vancouver right now the pictures they just made me so jealous but it's good here in Austin. Well, it's brutal there in California for sure with wildfires raging in the north AH pandemic still gripping the stay in now blackouts last week It's a really dismal situation there in the state so you may have all heard about the blackouts in California. Last week. Now let's be clear. We're not talking about. Days or even a week without power like thousands of people who went through this in the Midwest last week after the show or the folks on Long Island after the recent tropical storm this was something else these were small-scale our blackouts the grid operator calls based on moment inability to meet demand. It's been super hot all across the West. So California couldn't just call an Oregon or Arizona to import power and the problem struck at the same time each day as the sun sank down below the horizon m solar power generation stopped or slowed. So that took several gigawatts along with it even with an intense large-scale. Heatwave was this. The Best California can do the state has dramatically built out new capacity much of it renewable since the energy crisis in two thousand one but it's been closing a lot of gas plants. What role did both play? Let's start off with the perspective of the California Grid Operator let's clip from Severin Bornstein who is on the case Oh board of directors. He's also a faculty director at the Energy Institute at the UC Berkeley Haas business school. Here he is talking on air talk from KPCC we have gone down the road of putting more and more renewables on the grid and have not taken as. As we need to the constraints on those renewables the fact that they can disappear. Well, they do disappear on the sun goes down the solar but that the wind can suddenly stopped blowing, which is what happened Saturday and caused what we thought was going to be an okay but close night actually require rolling blackouts. So we really need to look in a much more refined way at what can. We count on from these renewables and figure out how we can fill in when they're not there. So this is a slightly technical version of what people like president trump are claiming on twitter that Democrats are using energy green energy to bring down the grid and your way of life. Now, to be clear severin born scene is not claiming that but I think he's channeling an argument that lot of. People who are skeptical of renewables are making, which is the more nose we put on the grid, the more these blackouts or going to happen So let's talk about the actual nuance of what happened in California Melissa to the best of our understanding what did happen. Yes. So to what we understand right now and to just for a moment back up and say we're going to it's going to be. A while before we know exactly what happened we need to do a full postmortem of this to understand really what went wrong wear for this type of situation to occur.
Accelerate Your Business Growth
Innovating How You Lead
"So I wanNA jump right in. I would love it if you would explain what is innovative leadership. So the idea. For me, personally as I've worked with some a lot of leaders who are highly successful and unfortunately, many leaders because they're so busy working on the work of the business, don't step back and innovate or update how they lead. They update their awareness of the technology. They use of the products and services of supply chain management they they get smarter on a regular basis about a lot of content in the business, and yet as leaders are primary role is leading obviously. And yet many of us don't invest the time and energy to to think about how the field of leadership is evolving, and how we must evolve to match the changes in the outer world and. My exam or yeah, my example, I guess, is we. We wouldn't none of us carry a flip phone anymore. I'm guessing or you're listening to PODCASTS A and yet. There are leaders who still think about leading the way they did when they under flip phone, and what what is heartbreaking for me as to see people who were recruited as absolute rockstars, and then they're asked to exit, because they are no longer rockstars, their leadership skills have depreciated while they're working incredibly hard for the organization, and they are left without employment and the need to. Retool to find the next high impact role. I would think they. Would struggle with realizing. Why they were let go. Is that fair? In some cases, yes. Having Lost a job a twenty years ago when our I was in the utilities industry when we went through the Enron crisis animal. My business was I worked for a large consulting firm and my role was helping set up trading floors. Losing that job to me, even though I wasn't. Involved in creating this crisis was blue devastating. Even for people who are incredibly introspective, it's hard to hard to figure out what's me. What's them what do I need to change? Struggling with the sense of broken, versus it wasn't my fault, so so once someone is invited to exit for whatever reason and I'm sure. Many of your listeners are either the ones doing the inviting which I have also done to come an alumni of the firm, and then having at happen is just at least for me. One of the most emotionally difficult challenges I've had a and so offering people a proactive path that increases their probability of being successful. Is Part of what we offer I don't I don't like to come at it from the negative, but but in a world where we have constant disruption, we have machine learning robotics Continual change in mergers and acquisitions, most of us will face a significant change in employment, and for many it'll be against their will. So how do we increase our own probability of success and increase the probability of the organization's success? Right and that's that's the work we offer. So how is? Innovative leadership different from traditional leadership. Great question so. The example of what we're seeing now the many leaders that got us to where they are traditional leaders, and they have done an exceptional job of it in the US and globally creating an economy that has has. Delivered, US most of us a lifestyle that our grandparents couldn't imagine. What we're talking about in the the leadership, literature is called Post. Conventional are beyond the conventional leadership. And it invites leadership. Leaders to bring on board things we know about, but don't necessarily integrate so becoming more emotionally intelligent. What does that mean for how I hey? What does it mean for how I collaborate it? In the midst of the black lives matter context post pandemic, we are facing how we deal with diversity
Dressed: The History of Fashion
an Interview with Costume Designer Mona May
"Are Seven billion people in the world. We all have one thing in common. Every day. We all get dressed. Welcome to trust the history of fashion podcasts where we explore the WHO when of why we wear, we are fashion, historians and your host April Kellyanne. Cassidy sacree so dress listeners, please accept this interruption to our regularly scheduled fashion history mystery, because we are bringing you a very special interview with the costume designer behind one of the most iconic fashion films of all time and April, as you know my personal, favorite clueless, which just this past Tuesday July nineteenth turned twenty five years old. And I have to say you guys. You all know someone who's very excited about this. Today we are joined by Mona, May, whose prolific career in film and television spans over three decades, clueless might be Mona's most famous film, but her work includes also rummy. Michele's high school reunion never been kissed a night at the Roxbury haunted mansion, and really the list just goes on and on. And April listeners please excuse me while I full on fan girl out because I mean I don't even know where to start, but my admiration and awe of Mona make goes back decades and is really threefold. I have seen clueless. Over one hundred times. At least an I can quote it from beginning to end I know there's a lot of people who were there with me, and then there's this added layer of me being costume designer myself. But also a fashion film lover I mean from Azzedine. Alaya to Calvin. Klein to that unforgettable yellow plaid suit clueless a fashion levers, dream and one that still resonates to this very day cast. You are not alone in your excitement for today's guests, so let's get to it Mona. Welcome dressed Mona. We are talking to you this week in celebration of the twenty fifth anniversary. Anniversary of one of the most iconic fashion flicks ever clueless, which debuted twenty five years ago this past Tuesday and which you, as a costume designer played such a central part. You and your work is currently getting so much well deserved attention. Yes, I'm really happy. I'm just you know. I'm just kind of flying high on all the kalisz diversity and you has been. I mean. My instagram is blowing up. which is so cool, you know it's funny because it's people are discovering ym in the weird way. God washrooms. Are you did that Enron Michelle and never been kissed and wedding singer? You know so like Sh-. The lavas pouring and it's so nice I mean the numbers are jumping up and it's just really great to you. Know we as cautioned designers, we are behind the scenes, and nobody really knows what our job really titles I think. It's kind of hard. You know what war goes into it in the preparation, and really all the creativity that has really come from Ma to create these characters from pages of the script they. They really just kind of very vaguely are described to us, and we really have to kind of be the psychologists kind of like a you know a detective to find out who they are deeply. You know their psychology were they went to. School may be no place in live there in right now and you know where they shop apartment they have you know once their journey right now in the film you know. Article to character to you know so. It's really a lot of lot of details that goes into. People don't really understand you know I think it's. It's one of a mysterious job in the way Oh. Yeah, absolutely so I. Mean You said you're making the rounds? You're all over vogue. You're all over instagram. People are are recreating favorite clueless moments. And I mean what does it feel like to have been part of a film that is still so much a part of pop culture even to this day after two decades it still so fresh and so relevant, and so loved is incredible I mean it's truly it's like A. One lifetime situation lighting that one can have that that something. Do you do out of love? You know because you don't set up to do the best session film of the universe but right. Thing, you know you, you I mean I. Am at fashion designer from training, and then I got into the question. Quebec doorway, and you know when I met amy on the pilot pilot and get picked up tablet. We creatively just connected so strongly. She loved it I was in Europe. I grew up in Europe. Seven different point of view fashion more European, and that's what the film needed. So when she wrote she called me, said the girl. I really want you to do this. To bring something so fresh and fashion forward something that's not on the street. Because of the time it was all grunge. She knows all everybody was wearing their. PLATIN- Baggy Pants, and was oh. Kurt Cobain Nirvana and of fashions in the street, so those nothing to go from everything had to be invented, not taken from the runways Paris Amina Milan share. Would the only probably daddy flew her there? She probably had the tickets in the on the day and was able to know things that she liked then everything had to be translated into the high school. Because you know amy is director of the night. I want this to be very useful, very. Very very sweet, very feminine. You know girly and that's kind of what we are changing from French fashion. Forward. Of course, it had to felt high school's head to sell their young girls because they had to feel pick, and I think part of the love for this film to the, even though they're a high fashion, and that is amazing of funded. As they felt authentic, the they really were beloved in the end that you knew who share was nearly the aunt was and out of. That feeling that emotional feeling thing, and that's why the film has lived so long because it's such emotional connection that people have to film you know with the fashion with kind of making you feel good. You know talking with a friend the other day like where does movies? We need more of those you know. The never been kissed. Michelle held to lose a guy in ten days. Almost fun movies. Movies that which none of watch and feel good, and it's okay, and it's a little bit of mystery and fun, and and Automo-. I miss those movies. You know I will miss those yeah,
Oh No Ross and Carrie
Ross and Carrie are Falsifiable
"Hello and welcome to Oh no Ross and Carrie the show where we don't just report on for in science rally and claims of the paranormal, but take part ourselves. Yup, and they make the claims we show on to carry poppy and I'm raw spot sure, and this is a little updates and corrections episode. We've been meaning to do that for a long time because it's been a while since we've Enron, we've updated ourselves in corrected ourselves. Well. We do that off and on anyway, so we've released lots of little mini corrections along the way, because whenever relevant and not to off-topic. We like to let you know when we messed up. Set things wrong or just update every body. Right? 'cause there's all. All these little things that continually happened after investigations they never fully leave us. We are left with newsletters. We are left with new bell respondents video obsessions right yet new subscriptions to youtube channels. That's kind of the danger of the show in our format is we cover so many topics and we try to stay kind of tapped into all of them. That's at ten on the danger rating is. Youtube Rabbit Hole! Danger Ratings from all the investigations. Just add them up. You'll probably notice when we get to corrections that a lot of these corrections are like. When did they ever even talk about that bright? I don't remember that it's not important to me well. It was important to someone who emailed us a lot of the Times. It'll be something that we sort of tangents. Head tangent all. The most dangerous territory when I remember hearing about this thing Blah Blah well anyway. Moving on that's when I get things wrong than when we hear about him, but this is good. We WanNA. Know when we're wrong. There's nothing wrong with being wrong. We're always going to be wrong. Everybody's wrong about things all the time and the way you find out to to get them right in change, you know sometimes people right and say well. You got this thing wrong here you. Are you getting mad? Mad, at other people for getting things wrong. Yeah, the this fine people get things wrong. There's a difference when you're making a claim. That's part of Your Business. Your Job Your profession, your promoting Brung ideas, and there's also another thing where you know you learn, and you stop saying things and say Oh. Sorry, oops! I was wrong about that. I won't get that wrong again. I think. How central is that thing to your point? The theme of whatever you're doing. Quite a bit his. Your whole thing is that you're the world's most supported medical medium. Most supported most backed by the scientific establishment I. Don't know. Maybe you should know what a double blind study is. It's that whole maximum of extraordinary claims require extraordinary evidence. There's kind of a similar scale there. Where there's a level of importance to the thing you're saying. Yeah, and how much rides on you getting correct anyways. We want to clear the air when we get things wrong so mostly people write very nicely. Yes, that's when we really appreciate that all right anyway. I update and or correction So, we cured cove Ed. That's what my notes say. Okay, so this is in relation to our recent homeopathy for covid nineteen class that we took. Yeah, so we offhandedly asked what hydrotherapy is because she kind of went quickly passed that I guess in a slide and we were like what's bad. Things with water. Is that drinking water? What is that? We're going to be bothered? Yeah, there is I mean so much flies by in that class. It's wild, but a few people wrote in or tweeted. Let us know what it is, so we're right. It's using water for pretty much anything. It's a big catch all term for some things varying levels of repute. Yeah, so that's one of the problems is that it's so widely applied that. Up Studies about like a hundred therapies real. Does it work including like using an ice pack? You know like on a sprained ankle as an example of water therapy. Therapy. Okay that works saying well yeah yeah. Agree Fun of the thing that comes to my mind is Charles. Darwin had a water cure that he was really into and Thurston is run. A good cure for Thursday's to drink water. Yes, very good Charles Darwin I didn't find out about this until I saw the two thousand nine film creation with Paul Bet knee playing Charles. Darwin and there was this whole scene where he takes his daughter to this practitioner, and they dumped just tons of water on him, and I'm watching the movie thinking he didn't do that. That's crazy. Turns out he did. He had a series of terrible complaints of all kinds of things going wrong with his body. Body he was vomiting, he had nausea. He had I think headaches and eggs, Emma and just everything was wrong with Charles. Darwin Poor Guy People now think it was maybe some problem with his autonomic nervous system. That's like the system that runs all of your unconscious functioning of your body so newest poor guy. He was miserable all the time, and so he would have like water dumped on him and Yeah, he had a doctor trying out the on, and he didn't buy into that so much. Charles Darwin because it was pretty new at the time. anyways. That's what I think. When I think of water therapy, you were saying. Well we've also of course heard. It applied to colonic hydrotherapy, which is right, shooting water up here, but for various reasons, and that's definitely on the less supported by the evidence