-Caveat Lector- From http://disc.server.com/discussion.cgi?id=149495&article=17466
}}}>Begin Click Here to Visit Our Sponsor APFN A REPORT ON HARVARD’S ENRON ENTANGLEMENTS Thu Jan 31 23:49:05 2002 68.3.132.0 TRADING TRUTH: A REPORT ON HARVARD’S ENRON ENTANGLEMENTS SUMMARY OF FINDINGS QUESTIONABLE FINANCIAL TRANSACTIONS AND INTERLOCKING DIRECTORATES http://www.harvardwatch.org • Herbert "Pug" Winokur is a member of the Harvard Corporation, the university’s seven-member self-selecting governing body, and a longtime member of the Board of Directors at Enron Corporation. He is currently the chair of the board’s Finance Committee. In this capacity Winokur reportedly approved the creation of more than 3,000 partnerships and subsidiaries which were allegedly used by Enron to hide debt and avoid taxation. Winokur’s position on the board’s Finance Committee gave him unique access to Enron’s financial structure and should have alerted him to the company’s imminent collapse. • During the period in which Enron executives touted the company’s stock to employees, Harvard’s main private investment fund — Highfields Capital —shortsold several million shares of Enron stock for an estimated profit of $50 million. Mr. Winokur’s leadership positions at Enron and Harvard raise questions regarding Highfields' massive short-selling transactions, which benefited the Harvard endowment. There has been insufficient investigation into the possibility that Highfields operated with inside information when it short-sold millions of Enron shares. • Highfields Capital manages an estimated $2 billion of Harvard’s endowment. Jonothan Jacobson, the co-founder of Highfields Capital, previously worked under Mr. Winokur’s directorship at Harvard Management Company. Highfields Capital was founded with $500 million of Harvard’s endowment. INSTITUTIONAL CAPTURE—HOW ENRON SHAPED HARVARD’S RESEARCH AGENDA • Through financial incentives and personal connections, Enron influenced Harvard’s research agenda. Harvard’s academic resources were consistently used to support Enron’s unsustainable business plan. • Robert Belfer, a director of Enron and the largest individual shareholder of the company’s stock, is a major donor to Harvard, and served on the Committee on University Resources (COUR) for 9 years and on the Visiting Committee at the Kennedy School of Government (KSG). He re-endowed the Kennedy School’s Belfer Center, previously called the Center for Science and International Affairs. • Enron and board members including Winokur and Belfer have contributed millions of dollars to Harvard and have aided in the creation and funding of research centers, which have consistently advocated an agenda of deregulation in the energy industry. The research produced at Harvard’s Kennedy School of Government by the Harvard Electric Policy Group (HEPG), the Environment and Natural Resources Program (ENRP), and the Belfer Center exemplify Enron’s influence over Harvard’s research agenda. • These centers have collaborated with Enron and its consultants and have defended the company and other energy industry monoliths against assertions of price manipulation and other illegal activities. Academic rationales for deregulation produced at Harvard were essential cover for the short-lived success of the Enron business model. • Enron has cultivated deep relationships with the Harvard Business School (HBS). Five HBS case studies have touted the Enron model as innovative and worthy of replication. Glowing studies of Enron were produced by HBS as recently as August of 2001, just before the company imploded. • HBS professors have received compensation for services provided to Enron. Professors have also co-authored major works on Enron with senior company executives. • Herbert Winokur, a director of both Enron and Harvard, has also funded several reports recommending privatization of defense services. Winokur is a leading investor in Dyncorp, a major defense contractor. The Herbert Winokur Fund at the KSG provides another example of how Winokur influenced Harvard’s research agenda for corporate and personal enrichment. • Mr. Winokur’s relationship to Dyncorp has raised concerns among those investigating Enron, since Dyncorp manages e-mail and information systems for many of the leading investigative agencies, including the Department of Justice and the Federal Bureau of Investigation. RECOMMENDATIONS 1. Harvard University should initiate a credible investigation into alleged financial improprieties regarding the management of the university’s endowment. The investigation should be undertaken by a representative body that has the confidence of the entire Harvard community 2. Pending the outcome of the investigation, Herbert Winokur should be suspended effective immediately from the Harvard Corporation. Harvard University must send a strong and unequivocal signal to the academic community by distancing itself from the failed leadership at Enron Corporation. 3. Harvard University should initiate a comprehensive re-evaluation of corporate funding that threatens its academic integrity and independence. The acceptance of a narrow research agenda and tilt imposed by corporate donors such as Enron today poses a formidable threat to its academic mission. 4. As part of its investigation, Harvard University should immediately disclose information on its ties to the Enron Corporation over the past 10 years. This includes, but is not limited to: • Funding from the Enron Corporation, its executives, and its directors to Harvard University. This includes direct contributions to Harvard as well as any of its schools and centers, including the Harvard Electric Policy Group, the Belfer Center and the Harvard Business School. • Provision of consulting services by researchers at Harvard University and its various Centers to Enron Corporation—including the nature of such services and the compensation paid by Enron. • A list of all financial transactions conducted by Harvard Management, its subsidiaries, and Highfields Capital involving Enron or any of its partnerships. • Disclosure of any Harvard investments in private companies, partnerships or special purpose entities affiliated with Herbert Winokur. • A full account of any contact or communication between fund managers at Harvard Management and its officers and Highfields Capital regarding Enron or its subsidiaries. • A full account of contact or communication between officers of Harvard Management Company or Highfields Capital and Enron executives and officers. • Disclosure of the participation of Enron executives and board members at sessions at HEPG and the ENRP. 5. Harvard University should outline a participatory process for selection of Harvard Corporation members. This should involve all stakeholders—faculty, workers, and students. Additional revelations about Herbert Winokur's role in the Enron scandal http://www.washingtonpost.com/wp-dyn/articles/A64820- 2002Jan30.html ================================================= Enron Directors Backed Moving Debt Off Books By Kathleen Day and Peter Behr Washington Post Staff Writers Thursday, January 31, 2002; Page A01 The Oct. 12, 1999, minutes show that outside director Herbert Winokur -- now a member of the board's special investigating committee -- recommended that the board approve Fastow's participation in the LJM2 partnership. Highfields' investments Institutional Investment Manager Filing this Report: Name: Highfields Capital Management LP Address: 200 Clarendon Street, 51st Floor, Boston, MA 02117 ------------------------------------------------------------------------------------------- --------------------------------------- Enron Corp COM 293561106 18,653 685,000 SHRS PUT OTHER 01/02 X ------------------------------------------------------------------------------------------- --------------------------------------- Enron Corp COM 293561106 408 15,000 SHRS PUT OTHER 01/02 X ------------------------------------------------------------------------------------------- --------------------------------------- Enron Corp COM 293561106 43,568 1,600,000 SHRS PUT OTHER 01/02 X http://www.people.fas.harvard.edu/~skomarov/harvardwatch/ highfields.txt ====================================================================== . ENRON-BUSH-WTC-OIL-CONNECTION Enron Oil & Gas names President and CEO and board-members Halliburton Corporation's Brown and Root is one of the major components of the Bush-Cheney drug empire By Michael C. URL: http://www.apfn.org/apfn/enron_bush.htm 2. The Story of ENRON The Story of ENRON "The story of Enron is the story of unmitigated pride and arrogance." G Sightings from ~ o ~ STATEMENT OF SENATOR BYRON DORGAN AT HEARING ON THE COLLAPSE OF URL: http://www.apfn.org/apfn/enron.htm 3. ENRON-BUSH-WTC-OIL-CONNECTION Phil Gramm's Skeleton Closet - Savings & Loan Scandal - Helped get a convicted drug dealer out of jail - Laundered Illegal Campaign Contributions URL: http://www.apfn.org/apfn/enron_bush2.htm 4. ENRON'S Kenneth L. Lay ENRON'S Kenneth L. Lay FIRSTROW, FROM LEFT, Ken L. Harrison, John A. Urquhart, Robert A. Belfer, Norman P. Blake, Jr., Robert K. Jaedicke, Ronnie C. Chan, Jeffrey K. Skilling, URL: http://www.apfn.org/ENRON/lay.htm 5. ENRON-BUSH-WTC-OIL-CONNECTION ENRON-BUSH-WTC-OIL-CONNECTION Part Three Part One Part Two Judicial Watch ENRON: JUDICIAL WATCH LAWSUITS AGAINST BUSH Thu Jan 17 02:46:40 2002 From: Judicial Watch [mailto:info@ju URL: http://www.apfn.org/apfn/enron_bush3.htm 6. Bank of Credit and Commerce International. Bank of Credit and Commerce International [Follow the money!] (B.C.C.I) THE BCCI AFFAIR EXECUTIVE SUMMARY 1. BCCI CONSTITUTED INTERNATIONAL FINANCIAL CRIME ON A MASSIVE AND URL: http://www.apfn.org/apfn/BCCI.htm 7. ENRON'S Jeffery K. Skilling ENRON'S Jeffery K. Skilling FIRSTROW, FROM LEFT, Ken L. Harrison, John A. Urquhart, Robert A. Belfer, Norman P. Blake, Jr., Robert K. Jaedicke, Ronnie C. Chan, Jeffrey K. URL: http://www.apfn.org/ENRON/skilling.htm 8. The Matter of Howard Hughes The Matter of Howard Hughes The curious facts, posed in the form of the questions below, and the further information in the attached/linked pages relate to the Matter of Howard URL: http://www.apfn.org/ENRON/hughes.htm 9. ENRON'S Ken L. Harrison ENRON'S Ken L. Harrison FIRSTROW, FROM LEFT, Ken L. Harrison, John A. Urquhart, Robert A. Belfer, Norman P. Blake, Jr., Robert K. Jaedicke, Ronnie C. Chan, Jeffrey K. Skilling, URL: http://www.apfn.org/ENRON/harrison.htm 10. RED CHINA and THE AMERICAN PRESIDENTIAL ELECTIONS RED CHINA and THE AMERICAN PRESIDENTIAL ELECTIONS Monday, 15-Jan-01 20:35:03 THIS IS VERY IMPORTANT INFORMATION TO UNDERSTAND THE CORRUPTION! NOW WHAT TO DO ABOUT IT? URL: http://www.apfn.org/apfn/redchina.htm Promotion, Popularity. Does your website have it? — Server.com Sponsor The Harvard-Bush Connection — APFN, Fri Feb 1 00:05 >Ralph Nader's Statement on Trading Truth at Harvard — Ralph Nader, Fri Feb 1 00:31 Lord Wakeham faces Enron questions — APFN, Fri Feb 1 01:16 Enron scandal: Wakeham quits PCC role to face inquiry — Andrew Grice, Fri Feb 1 04:41 ENRON AND THE CORRUPT-O'CRAT'S: — Roger Fredinburg, Fri Feb 1 05:21 End<{{{ ~~~~~~~~~~~~~~~ Forwarded as information only; no endorsement to be presumed + + + + + + + + + + + + + + + + + + + + + + + + + + + + In accordance with Title 17 U.S.C. section 107, this material is distributed without charge or profit to those who have expressed a prior interest in receiving this type of information for non-profit research and educational purposes only. + + + + + + + + + + + + + + + + + + + + + + + + + + + + + The only real voyage of discovery consists not in seeking new landscapes but in having new eyes. -Marcel Proust + + + + + + + + + + + + + + + + + + + + + + + + + + + + "Do not believe in anything simply because you have heard it. 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