I saw this the other day.  The fun is just beginning.

bob

 -----Original Message-----
From: 	Reeves, Leslie  
Sent:	Tuesday, November 20, 2001 12:45 PM
To:	Hall, Bob M
Subject:	FW: New Enron methodology

Had to share this one with you.

 -----Original Message-----
From: 	Evans, Casey  
Sent:	Tuesday, November 20, 2001 10:50 AM
To:	Dahlke, Andrea; Albrecht, Kristin; Vinson, Donald Wayne; Hiemstra, Nick; Reeves, Leslie
Subject:	FW: New Enron methodology

now the jokes are starting....

 -----Original Message-----
From: 	Jason Ervin <jervin@spinexp.com>@ENRON  
Sent:	Tuesday, November  20, 2001 10:14 AM
To:	Casey Evans (E-mail)
Subject:	FW: New Enron methodology

 
Subject: New Enron  methodology
Enron Venture Capitalism 
You  have two cows. 
You sell three of them to your publicly listed company, using  letters of
credit opened by your brother-in-law at the bank, then execute  
debt/equity swap with an associated general offer so that you get  all
four cows back, with a tax exemption for five cows. The milk rights  of
the six cows are transferred via an intermediary to a Cayman  Island
company secretly owned by the majority shareholder who sells the  rights
to all seven cows back to your listed company. The annual report  says
the company owns eight cows, with an option on one more.