Friday, December 03, 2004

My take on Enron

I see in the paper today that there are 114 unindicted co-conspirators in the next phase of the Enron trials. This would be for the suits against Ken Lay and Jeff Skilling; the largest number of unindicted co-conspirators in history. While some see this as a vindication, or a gotcha, it just makes me sad.
You see, I had the pleasure of working for Enron. My brother still works for what is left, and for those interested, Enron has emerged from bankruptcy, but will probably flicker and die.
I was a Sr. Specialist on the electricity trading floor (Eastern US, the western US was traded in Portland, OR). I lead the group that developed the intranet for the traders. We delivered pricing and electricity demand information from over 500 points across the country every 5 minutes.
The culture was very entreprenurial. Anything we wanted to try - technology wise - we were allowed to try. If it made the information flow better we adopted it. Yes, it was very competitive, but that, I think, drove everyone to do their best. And we had some of the very best.
Now the corporation that I was so proud to be a part of, has a name that is synomous with greed and failure.
As far as my feelings for Ken Lay, I thank him for building a company that gave me the best and most enjoyable job a I have had to date (hopefully law will win out). He made some poor decisions and those decisions cost a lot of people a great deal of money. I understand that. But I hold him no ill will. He was always pleasant and humble when I would see him in the building.
After the fall I was fortunate. The power and gas trading groups were purchased by UBS Warburg. I stayed on for another 6 months until another big layoff caught me.
Thank the Lord for that because had I not been laid off I would not have entered law school. I really enjoy the law and cannot wait to practice.
So, as the rest of the nation prepares to receive their revenge on the evildoers of Enron, I take a minute to reflect on the glory that it once was; and to remember the friends that I made and fun we had.


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Faceprint Global Solutions (FCPG) is pleased to announce that its European partner, Keyvelop, has teamed up with IBM's Partner World Industry Networks to deliver customer software requirement solutions for the international healthcare industry.
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With traceability and security now deemed a serious business priority, companies are increasingly focused on employing procedures and controls designed to ensure the authenticity, integrity and confidentiality of electronic records.
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Buell Duncan, IBM's general manager of ISV & Developer Relations commented, "Collaborating with Keyvelop will ensure that we develop open solutions that are easy to maintain and cost effective for our customers in the healthcare and life sciences industry."
Among other things, this new software technology which is currently being used by a number of European healthcare companies, is used to send any file, regardless of format or size. Encryption keys, evidence of transmission integrity with fingerprint calculation, time-stamping of all actions and status record updating, pre-checking sender and receiver identities, validating file opening dates are part of Keyvelop features.
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FGS operates a business, which develops and delivers a variety of technology solutions, including biometric software applications on smart cards and other support mediums (apometric solutions). FGS's products provide biometric solutions for identity authentication and a host of smart card- and biometrics-related hardware peripherals and software applications. Apometrix, FGS's wholly-owned subsidiary, combines on-card or in-chip multi-application management solutions with best-of-breed 'in-card matching' biometrics. Keyvelop's secure digital envelope solution and Apometrix's on-card biometrics work together to produce the winning combination in the fields of security, traceability and identity management. FGS is headquartered in Fresno, California.

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All statements made are our express opinion only and should be treated as such. We may own, take position and sell any securities mentioned at any time. Any statements that express or involve discussions with respect to predictions, goals, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. This profile is in no way affiliated with the featured company. We were compensated one thousand dollars from third party (IR Marketing) to distribute this report. Forward looking statements in this action may be identified through the use of words such as: "projects", "foresee", "expects". in compliance with Section 17(b), we disclose the holding of FGS shares prior to the publication of this report. Be aware of an inherent conflict of interest resulting from such holdings due to our intent to profit from the liquidation of these shares. Shares may be sold at any time, even after positive statements have been made regarding the above company. Since we own shares, there is an inherent conflict of interest in our statements and opinions. Readers of this publication are cautioned not to place undue reliance on forward-looking statements, which are based on certain assumptions and expectations involving various risks and uncertainties that could cause results to differ materially from those set forth in the forward- looking statements. This is not solicitation to buy or sell stocks, this text is for informational purpose only and you should seek professional advice from registered financial advisor before you do anything related with buying or selling stocks, penny stocks are very high risk and you can lose your entire investment.

11:56 PM  

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