Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Editor dies in fall from New York Times office building
Associated Press | 8/22/2002

Posted on 08/22/2002 11:59:55 AM PDT by ArcLight

NEW YORK (AP) -- A longtime business editor at The New York Times fell to his death from the 11th floor of the newspaper's Times Square office building Thursday in what police called a possible suicide.

Allen Myerson, whose title was assistant business editor/weekends, fell from the West 43rd Street building around 9:45 a.m., police said. His body landed on the roof of a nearby garage.

The newspaper's spokeswoman, Catherine Mathis, confirmed his death. She said Myerson, 47, had worked at the Times since 1989.

Times publisher Arthur Ochs Sulzberger Jr. sent an internal memo to employees announcing Myerson's death and saying that police were investigating the circumstances. Police Sgt. Kevin Hayes said police were treating the death as a possible suicide.

"As with any family, we're called on to endure our share of tragedies," Mathis quoted Sulzberger as saying in the memo. "This is one of those times and our support for one another will help all of us get through it."

Myerson is survived by his wife, Carol Cropper Myerson, who works at BusinessWeek. They had no children.

Myerson wrote frequently on energy-related issues. In January, he edited "The New Rules of Personal Investing," a compilation of essays offering investing tips from top business writers at the newspaper.

Myerson joined the Times after working for the Lexington Herald-Leader and The Dallas Morning News.


TOPICS: Breaking News; Culture/Society; News/Current Events
KEYWORDS: nytimes; suicide
Navigation: use the links below to view more comments.
first 1-5051-100101-133 next last

1 posted on 08/22/2002 11:59:55 AM PDT by ArcLight
[ Post Reply | Private Reply | View Replies]

Comment #2 Removed by Moderator

To: ArcLight
This is a lesson on spin. He doesn't jump to his death he--- falls. He doesn't commit suicide; its seemingly possible; meaning possibly we cannot spin it completely
3 posted on 08/22/2002 12:04:49 PM PDT by Naspino
[ Post Reply | Private Reply | To 1 | View Replies]

Comment #4 Removed by Moderator

To: ArcLight
anybody got a link to this thing?
5 posted on 08/22/2002 12:05:34 PM PDT by Types_with_Fist
[ Post Reply | Private Reply | To 1 | View Replies]

To: ArcLight
Doing a quick google search, it appears that Myerson's area of "expertise" was primarily in the Energy field. He was anti-oil, and from my quick check, he seemed to espouse all the usual liberal beliefs in that regard.
6 posted on 08/22/2002 12:05:52 PM PDT by berned
[ Post Reply | Private Reply | To 1 | View Replies]

To: ArcLight
Besides compassion, some other things to consider are that Myerson was disabled, a business editor, a member of a hard-left political group, and a reporter who covered Enron.

Considering the news that is gradually emerging about Enron's close ties with the Clinton administration, it isn't too difficult to put together a theory on his motivation...

7 posted on 08/22/2002 12:05:58 PM PDT by Southack
[ Post Reply | Private Reply | To 1 | View Replies]

To: ArcLight
http://webcenter.newssearch.netscape.com/aolns_display.adp?key=200208221411000267643_aolns.src
8 posted on 08/22/2002 12:07:27 PM PDT by Types_with_Fist
[ Post Reply | Private Reply | To 1 | View Replies]

To: paulklenk
Call me dumb but...why are you laughing about this? I don't understand.
9 posted on 08/22/2002 12:07:31 PM PDT by cubreporter
[ Post Reply | Private Reply | To 2 | View Replies]

To: cubreporter
why are you laughing about this? I don't understand.

Because some people like acting like a dumba$$ to get attention.

10 posted on 08/22/2002 12:10:29 PM PDT by BureaucratusMaximus
[ Post Reply | Private Reply | To 9 | View Replies]

Comment #11 Removed by Moderator

To: paulklenk
I've read the story three times, and I've failed to read anything in it that was funny. Sad, but not funny.
12 posted on 08/22/2002 12:10:56 PM PDT by usastandsunited
[ Post Reply | Private Reply | To 2 | View Replies]

Comment #13 Removed by Moderator

To: Southack
"Myerson was disabled, "

That was not mentioned in the article. Do you have a source for that?

14 posted on 08/22/2002 12:13:41 PM PDT by billhilly
[ Post Reply | Private Reply | To 7 | View Replies]

To: cubreporter
Never mind, my bad. Sorry.
15 posted on 08/22/2002 12:15:12 PM PDT by paulklenk
[ Post Reply | Private Reply | To 9 | View Replies]

To: Naspino
This is a lesson on spin. He doesn't jump to his death he--- falls.

You are absolutely correct!
Were this a prominent Conservative, he would have "Leapt to his death out of frustration and despair in the bungling of the Bush adminstration".

16 posted on 08/22/2002 12:15:34 PM PDT by grobdriver
[ Post Reply | Private Reply | To 3 | View Replies]

To: Southack
Another Clinton-related death...
17 posted on 08/22/2002 12:17:47 PM PDT by My2Cents
[ Post Reply | Private Reply | To 7 | View Replies]

To: Southack
Why Southack,
If I didn't know better, I'd say you were suggesting a conspiracy! :~D
18 posted on 08/22/2002 12:18:42 PM PDT by cuz_it_aint_their_money
[ Post Reply | Private Reply | To 7 | View Replies]

To: My2Cents
Another Clinton-related death...

You were able to deduce that conclusion from the article. I am impressed. [/sarcasm]

19 posted on 08/22/2002 12:21:04 PM PDT by ProudAmerican2
[ Post Reply | Private Reply | To 17 | View Replies]

To: ArcLight
Work near there didn't hear no sirens or police around the area
20 posted on 08/22/2002 12:21:20 PM PDT by shined1
[ Post Reply | Private Reply | To 1 | View Replies]

To: ArcLight
Very sad. I wonder if their is the possibility that he was pushed. That might explain the "fell" instead of "jumped." Could it have been an accident? Suicide is not a given it doesn't sound like to me--yet.
21 posted on 08/22/2002 12:21:41 PM PDT by RAT Patrol
[ Post Reply | Private Reply | To 1 | View Replies]

To: Southack
Yesterday the Department of Justice announced that Kopper had pled guilty and was cooperating with the Enron investigation. Last night the Feds froze the assets of Skilling. And today a reporter covering Enron kills himself. Some coincidence.
22 posted on 08/22/2002 12:22:24 PM PDT by LarryLied
[ Post Reply | Private Reply | To 7 | View Replies]

To: ArcLight
Sorry for lack of link. I posted it right off the AP wire here at my newsroom. I hadn't seen it on the Web yet.

I originally expressed doubt that the Drudge flash was correct. Let that be a lesson to me. Sorry, Matt.

God bless the poor fellow and his family.
23 posted on 08/22/2002 12:22:53 PM PDT by ArcLight
[ Post Reply | Private Reply | To 1 | View Replies]

To: LarryLied
hmmmmm
24 posted on 08/22/2002 12:24:58 PM PDT by nonstatusquo
[ Post Reply | Private Reply | To 23 | View Replies]

To: usastandsunited
My apologies to you, too. (What was I thinking?!)
25 posted on 08/22/2002 12:25:12 PM PDT by paulklenk
[ Post Reply | Private Reply | To 12 | View Replies]

To: ArcLight
The New York Times


View Related Topics


August 23, 1998, Sunday, Late Edition - Final

SECTION: Section 3; Page 4; Column 1; Money and Business/Financial Desk

LENGTH: 1053 words

HEADLINE: INVESTING IT: FOCUS ON ELECTRIC POWER -- THE COMMODITY;
A 20,000% Bounce: Now That's Volatility

BYLINE: By ALLEN R. MYERSON

DATELINE: HOUSTON

BODY:
AS president of the Enron Corporation, which trades more electricity than anyone else, Jeffrey S. Skilling presumably knows all the risks. But he is the first to acknowledge that he is still learning just how this most volatile of all commodity markets bounces. And he has 14 mathematicians with doctorates to help him.

Which helps explain why companies with less expertise in trading electricity and futures are taking huge hits, while Enron made modest, though undisclosed, profits. Just a few weeks ago, the LG&E Energy Corporation of Louisville, Ky., announced losses of $225 million -- about $315 million before taxes -- from trading electricity and then shutting most of its trading operations. Its shares fell $3, or 10.9 percent, in four weeks, to $24.5625; it closed on Friday at at $26.4375. Other companies, including First Energy of Akron, Ohio, and Illinova of Decatur, Ill., also said their earnings had been dented as a result of volatile prices, although not so much. The fallout continues. Just last week, Power Company of America L.P., a privately held electricity trading company in Greenwich, Conn., which had defaulted on some contracts, filed for bankruptcy reorganization.

No wonder investors might also be at a loss in assessing the risks companies are taking. The deregulation of electricity and the birth of trading in it have multiplied the perils for the utilities and their shareholders. Few companies disclose enough to allow even full-time analysts to say who is trying to learn this new form of poker by playing at the high-stakes tables.

There are some ways, however, to tell the difference between the Enrons and the LG&E's. First, scorekeepers should understand that electricity is nearly impossible to store, with demand soaring in unpredictable stretches of hot weather. The nation's power grid has so many bottlenecks that regional squeezes can become severe. That means prices can go wild, more than for any other commonly traded commodity.

Thus, in late June, power temporarily traded at wholesale for as much as $7,500 a megawatt-hour, more than 200 times the normal level. If utilities could pass this cost on to customers, the owner of even a modest home would pay about $400 a day in air-conditioning bills.

But they can't. So companies like LG&E, which had contracted to supply power to other utilities over the long term at fixed prices, had to buy at high short-term prices. It was not unlike the fix that savings and loans got themselves into by lending long-term and borrowing short-term.

Steven A. Parla, an analyst at Credit Suisse First Boston, therefore favors companies that are already experienced in trading natural gas, which was deregulated years before electricity.

"The players who have spent the last 10 years trading what has been the most volatile widely traded commodity on earth, which is natural gas, will be the most successful at trading what will become the most volatile widely traded commodity on earth over the next 10 years, which is electricity," Mr. Parla said.

In this category, he and several other analysts and industry executives put not only Enron, but also Duke Energy and Dynergy, which recently changed its name from the NGC Corporation. Duke Energy has gained its expertise through buying Panhandle Eastern and Louis Dreyfus Natural Gas. Dynergy, like Enron, has long been occupied primarily with natural gas.

Unlike LG&E, these companies are all large enough to withstand a few jolts. "LG&E is among the bigger companies in power trading, but among the smaller utilities," said Barry Abramson, an analyst at Paine Webber. "So when things go bad, it has a very big impact."

Analysts advise investors to try to determine whether companies trading electricity are betting on the direction of prices. It can be hard for outsiders to know. But LG&E had disclosed that it had long-term, fixed-price sales contracts, implying a bet that cheaper electricity would allow it to fulfill those contracts profitably.

Enron aims to supply electricity, financing, risk management and other services while limiting its own exposure to price movements. It is a complicated task, requiring computer systems, statisticians and financial controls sufficient for constant assessment of the combined effects of a company's generating capacity, sales and purchase agreements and financial instruments. The payoff is the ability to stay on top of the game. "Being a winner in electricity does not mean being on the right side of the market," said Kurt Launer, an analyst at Donaldson, Lufkin & Jenrette. "Being a winner in electricity means being able to provide a service to customers in a deregulated environment."

Almost all companies trading electricity say they have sufficient controls, as did LG&E, although it acknowledged in two previous quarters that its electricity trading had left it with unspecified losses. John R. McCall, an executive vice president, said that though prices might never return to $7,500, they would remain volatile enough to harm other utilities that are still trading.

For the time being, however, companies trading electricity appear to be able to hide some of their mistakes behind accounting standards better suited to the stable, plodding electricity providers of yore than to today's gunslingers. Few follow Enron's example of reporting the current market value of its positions every quarter; instead, most utilities report gains or losses only after they close out their futures positions and long-range contracts.

Another sign of risk is when a utility lacks enough generating capacity both to supply its own customers and to fulfill its contracted commitments to other utilities. When the city of Springfield, Mass., defaulted on a contract to supply power to LG&E, the utility was forced to pay high spot market rates for enough power to deliver to the Oglethorpe Power Company of Georgia.

Enron executives, sometimes accused by analysts of taking untoward risks, try to reassure investors. But in recent weeks, they have found themselves denying rumors not of losses but of electricity trading gains of as much as $750 million.

"It ain't going to happen," Mr. Skilling said. "That's not the way we manage the business. Conversely, we're not going to lose $750 million either."
26 posted on 08/22/2002 12:27:46 PM PDT by tallhappy
[ Post Reply | Private Reply | To 1 | View Replies]

To: paulklenk
Actually, I have begun to think about his wife and children. If this is seen as a suicide, then they might not be eligible for life insurance benefits, so that might be a reason to say it wasn't a suicide.........

maybe.....
27 posted on 08/22/2002 12:28:50 PM PDT by nonstatusquo
[ Post Reply | Private Reply | To 25 | View Replies]

To: ArcLight
The New York Times


View Related Topics


July 25, 1998, Saturday, Late Edition - Final

SECTION: Section D; Page 2; Column 1; Business/Financial Desk

LENGTH: 708 words

HEADLINE: INTERNATIONAL BUSINESS;
Enron to Buy British Water Company

BYLINE: By ALLEN R. MYERSON

DATELINE: DALLAS, July 24

BODY:
The Enron Corporation, in a stroke of business alchemy meant to turn its electricity and natural gas expertise into know-how about water, announced a $2.2 billion cash purchase today of a British water and sewage company as a base for global expansion.

Some analysts said that Wessex Water P.L.C., though profitable and efficient, was too limited in potential growth to be worth that price. But Kenneth L. Lay, Enron's chairman, called the purchase essential for his company to enter the water market, where privatization and annual investments around $100 billion are just beginning. "We think there are tremendous opportunities, probably a lot more opportunities than there are companies able to take advantage of them," he said in an interview. As in the deregulation and privatization of global natural gas and electricity businesses, he said, "Getting in early and getting in in a very substantial way can give you a strong competitive position." In just a few years, Mr. Lay added, Enron's water business could be as big as its gas or electricity operations. While the company also plans to exploit possible plans by many American cities to privatize their water services, it intends to focus on Europe, Latin America and Asia.

Enron's offer of $10.33 a share, or £6.20, is 26 percent above Wessex's Thursday closing price of £4.93 in London. Wessex shares surged today to £6.115, while Enron fell $1.25 to close at $55.25. Enron will also assume $255 million in Wessex debt.

Enron, based in Houston, has been a pioneer in turning natural gas and electricity into global businesses. But some analysts said the water and sewage industry was different in ways that Enron might not expect.

Where Enron's energy projects have often been fresh starts, its water investments are likely to require the purchase of existing companies with their current systems and employees. Enron might have to lay off half the employees and spend heavily to upgrade systems, said Richard Smith of Deutsche Morgan Grenfell in London. Enron's dealings with foreign leaders in its energy investments might prove of limited value because water commonly is managed locally. "At this stage the international water market isn't as easy as the international electricity market," Mr. Smith said.

Enron also faces two huge French competitors, Suez Lyonnaise des Eaux and Vivendi, which have long head starts in water projects around the world. Enron quietly entered the business last month with a group that paid $150 million for 70 percent of a newly privatized water and sewer company in Mendoza province of Argentina. But it lost a project in China to Suez Lyonnaise des Eaux.

Enron's admirers point out that it has already shown the ingenuity to apply lessons learned in the natural gas business. David Fleischer of Goldman, Sachs compares the Wessex purchase to Enron's $2.9 billion acquisition last year of the Portland General Corporation, Oregon's largest power provider, as a base for attacking the electricity market.

In water services, Mr. Fleischer said, "Enron has a lot of capabilities, and the Wessex deal gives them the capabilities they didn't have."

In Wessex, Enron would get a water company too small to realize its own foreign ambitions but with managers who have greatly improved its efficiency. "The track record of Enron married to the experience of Wessex is a formidable combination," said Nicholas Hood, who will remain the Wessex chairman. He will also become vice chairman of the new water division of Enron, which will be managed by Rebecca P. Mark, Enron's vice chairwoman.

Although Enron said the acquisition would improve its earnings next year, British regulators are considered likely to trim the company's rates in 2000. Wessex, based in Bristol, provides water for an area of 1.1 million people and sewage services for an area of 2.5 million, both in southwestern England. Its sale is subject to the approval of its shareholders and British regulators. While British water companies were privatized in 1989, American cities, including Atlanta, are just in the process of privatizing their services.

Enron said that other cities, including New York, Los Angeles and Chicago, were considering whether to follow.
28 posted on 08/22/2002 12:28:54 PM PDT by tallhappy
[ Post Reply | Private Reply | To 1 | View Replies]

To: tallhappy
So clearly Myerson had spoken to Skilling, precisely on the subject of Enron's accounting. Was Kopper already Skilling's right-hand man when Myerson was working on this article?
29 posted on 08/22/2002 12:31:56 PM PDT by aristeides
[ Post Reply | Private Reply | To 26 | View Replies]

To: ArcLight
Any relation to the kleptomaniac Bess Myerson?
30 posted on 08/22/2002 12:32:49 PM PDT by Consort
[ Post Reply | Private Reply | To 1 | View Replies]

To: RAT Patrol
News can be spun any way.

Earlier this year the last remaining flyable Boeing 307 airliner crashed into Seattle Bay after the dumb sh*ts flying it managed to run the four-engine antique out of gas. Volunteers had spent years and hundreds of thousands of private dollars to restore this beauty to flying condition. You really need to read the whole accident report to get the full flavor, but my point is that the official cause of the crash is "air in the fuel lines."

Well, DUH! Of course, when you've drained the tanks dry, there then appears air in the fuel lines. The cheap b*st*rds only put an hour's worth of fuel in the plane for its first test flight.

I wonder what we'll learn about today's death in NY.

31 posted on 08/22/2002 12:32:51 PM PDT by pabianice
[ Post Reply | Private Reply | To 21 | View Replies]

To: ArcLight
Okay, what did he know about Hillary and when was he planning to publish it?
32 posted on 08/22/2002 12:33:22 PM PDT by brbethke
[ Post Reply | Private Reply | To 1 | View Replies]

To: LarryLied
Hmmm, all of this seems Clintonesque...
33 posted on 08/22/2002 12:33:35 PM PDT by Nachum
[ Post Reply | Private Reply | To 22 | View Replies]

Comment #34 Removed by Moderator

To: pabianice
Excellent point in your post #31.
35 posted on 08/22/2002 12:38:41 PM PDT by RAT Patrol
[ Post Reply | Private Reply | To 31 | View Replies]

To: ArcLight
Does anyone know where I could find a picture of this guy?
36 posted on 08/22/2002 12:43:14 PM PDT by roses of sharon
[ Post Reply | Private Reply | To 1 | View Replies]

To: tallhappy
I remember seeing Enron ads on TV and reading articles like this. My opinion then was that their primary operation, stripped to its essence, was that of a middleman. Middlemen have been squeezed relentlessly out of most industries and I concluded then that their prosperity would not last. Historically, IMHO, when companies like Enron go on a merger binge, they're trying to cover a fundamental flaw in their business plan.

In case anyone's keeping track, this would appear to be the second Enron-cide.

37 posted on 08/22/2002 12:54:19 PM PDT by SteamshipTime
[ Post Reply | Private Reply | To 26 | View Replies]

Comment #38 Removed by Moderator

To: SteamshipTime
In case anyone's keeping track, this would appear to be the second Enron-cide.

And let's not forget that Goldman Sachs guy that jumped out of a window a couple of weeks ago.

39 posted on 08/22/2002 12:58:24 PM PDT by aristeides
[ Post Reply | Private Reply | To 37 | View Replies]

To: ArcLight
Personally, I haven't a shred of sympathy for suicides. It is the ultimate "poor me the victim" cop-out.

As is noted in this thread, however, at this point (and maybe never) we really don't know whether he jumped or was pushed.
40 posted on 08/22/2002 1:03:21 PM PDT by WaterDragon
[ Post Reply | Private Reply | To 1 | View Replies]

Comment #41 Removed by Moderator

Comment #42 Removed by Moderator

To: SteamshipTime
SteamshipTime: ___I remember seeing Enron ads on TV and reading articles like this.___

Interesting observation. Here is another article by Myerson.

(BTW, I am not implying anything with these posts).

The New York Times


View Related Topics


January 14, 1997, Tuesday, Late Edition - Final

SECTION: Section D; Page 6; Column 1; Business/Financial Desk

LENGTH: 922 words

HEADLINE: THE MEDIA BUSINESS: ADVERTISING;
Enron, seeking to be a household name, plans to start its campaign on Super Bowl Sunday.

BYLINE: By Allen R. Myerson

DATELINE: HOUSTON

BODY:
EVEN IF it is the nation's largest independent natural gas company and even if it does aim to dominate an electricity market that is larger than the nation's telecommunications market, the Enron Corporation has found that just telling people what it is can pose unexpected challenges.

Simply choosing an appropriate replacement for the name "Houston Natural Gas/Internorth" almost foundered in the mid-1980's when Kenneth L. Lay, the chief executive, learned days before the public rollout that the first choice, "Enteron," meant the digestive tract -- not exactly the image a natural gas company craved. Today, Enron plans to announce its first major advertising campaign to build its image, starting with television spots before and after Super Bowl XXXI on Jan. 26, in markets including New York, Washington and Houston. Two-page newspaper spreads will follow the next day, with advertisements in business magazines and on cable television as well.

The goals: to persuade Americans to demand faster deregulation of the electricity industry, teach them the Enron name and then win them over as customers.

To match the new image, Enron is striving to transform itself from a natural gas and electricity trader, transporter and wholesaler into a competitive electricity retailer as well, with a brand name as familiar as AT&T, MCI or Sprint.

"Enron is not a household name; we know that," Mr. Lay said at his office yesterday. "But we have a chance to create an AT&T for the electricity business."

Starting with a system that serves about 5,000 wholesale customers, Enron is installing enough telephones and billing systems to handle as many as six million retail customers, more than any electricity company has, the company said.

An initial advertising budget of $25 million to $30 million for about six months is likely to exceed $200 million annually -- roughly what a company like Sprint spends to court telephone customers -- in five years, as companies like Enron are allowed to compete for electricity customers in more states, the company said.

The advertisements feature customers around the nation and the world testifying that Enron has brought them cheaper, cleaner, more reliable energy. The television ads will explain how the company helped citizens in Peterborough, N.H., cut their electricity bills by 10 to 20 percent; allowed the Columbus, Ohio, school district to save millions, and enabled businesses and residents in the Philippines to avoid chronic, aggravating power failures.

"Nobody likes a monopoly, and particularly in a place where the state motto is 'Live Free or Die,' " one Peterborough customer says in the ad.

Then an announcer concludes, "You can choose your neighbors, and soon you may choose your energy company: Enron.".

To reach opinion leaders, Enron will run 30-second Super Bowl spots in New York and Washington as well as in a few other cities, including Houston, where Enron's employees are concentrated. The six print advertisements will be distributed in three more localities. When focus groups responded to these advertisements by asking how they could sign up, Enron added an "800" number. Operators will tell callers how they can switch to Enron or help lobby for speedier deregulation.

Several states, including Massachusetts and California, will begin to open their electricity markets to competition within about a year. New York lawmakers are likely to debate the matter this year. Enron, pressing Washington to mandate nationwide competition, predicts that the nation's $200 billion electricity market will be entirely open in about a decade.

Many utilities, however, are lobbying to delay deregulation, which they say would force them to swallow the costs of power plants that were built with regulators' encouragement.

Enron's approach would benefit Enron, not the public, said John M. Castagna, a spokesman for the Edison Electric Institute in Washington, which represents utility companies. "You can't act in a thoughtful, prudent manner if you're racing into a burning building, which may be what this particular company is doing," he said.

Analysts, though, applauded Enron's initiative. Given the brawl over deregulation, Curt N. Launer, an analyst at Donaldson, Lufkin & Jenrette, said, "it's critically important to do this now."

To carry out its offensive, Enron named Elizabeth Arendall Tilney, a former Ogilvy & Mather executive, as marketing chief a year ago. Her former company created the advertising and ran the campaign until Shell Oil, another client, complained of a possible conflict of interest.

On Jan. 1 the account went to Conquest, which made Enron the first client for its New York office. Conquest, based in Paris, is, like Ogilvy & Mather, a unit of the WPP Group, based in London.

The company also has a colorful new logo, featuring a tilted E. It was the last design by the late Paul Rand, who had also done logos for I.B.M., ABC and Westinghouse Electric.

Enron plans a Hollywood-style campaign debut at a hotel ballroom in Houston today. But besides fireworks, searchlights and celebrity impersonators, the company will demonstrate that it is not taking all this too, too seriously. In a five-minute film to be shown at the event, responses from people around the world who are asked to define an Enron range from a cosmetics company that nearly went bust to "something from 'Star Trek' -- a Klingon would use it as a weapon." Mr. Lay then plans to say that the company has its work cut out for it.



43 posted on 08/22/2002 1:04:11 PM PDT by tallhappy
[ Post Reply | Private Reply | To 37 | View Replies]

1995 puf piece on Lay by Myerson

The New York Times


February 12, 1995, Sunday, Late Edition - Final

SECTION: Section 4; Page 2; Column 1; Week in Review Desk

LENGTH: 775 words

HEADLINE: February 5-11;
A Natural-Gas Man Has a Certain Something

BYLINE: By ALLEN R. MYERSON

DATELINE: HOUSTON

BODY:
IN the energy world, the geeks are pushing out the sheiks. OPEC ministers, old-line oil executives and Texas wildcatters are no match for the balding economists, scientists and engineeers, dripping with graduate degrees, who run the natural gas companies.

While Saudi Arabia wallows in debt, companies nobody has ever heard of are building multibillion-dollar pipelines across mountain ranges, deserts and seas, and multibillion-dollar liquefaction plants to ship gas where even the pipelines can't go. As a result, owlish executives like Kenneth L. Lay, (Ph.D., economics), the chairman of Enron, are global diplomats. Pipelines across the Andes are tying together Latin American countries that had been chilly neighbors. Japan is balancing its exports to Southeast Asia with imports of liquefied natural gas. By next summer, a pipeline under the Straits of Gibraltar will feed Spain and Portugal natural gas from Algeria by way of Morocco.

And where are many Middle Eastern nations turning for help in developing and marketing their own natural gas? To Israel. Jordan and Egypt have agreed to build natural-gas pipelines to Israel, and Qatar is trying to negotiate a shipping deal.

As Amos Ron, director general of Israel's Ministry of Energy and Infrastructure, put it in an interview, "Such projects like natural gas pipelines are important stakes for the tent of peace, to hold it on the ground."

Dr. Lay's ambition is to match the global scope of the corporate oil titans, perhaps casting himself as the next Rockefeller. "Our vision is to provide the same kind of technical, marketing and financial skills to the natural gas business worldwide that the oil majors provided in the early part of this century," he said above the static from his jet's telephone.

For the natural gas geeks, the competition has a long head start.

Oil can be sent anywhere on anything. Natural gas fields must be tied to urban markets by costly pipelines and processing plants. Shipping natural gas requires liquefaction in plants as expensive as emirate palaces, although costs are falling.

Back in the 1970's, the United States lumped oil and natural gas together as petroleum products that electric utilities should shun. Having discovered since then that major natural gas producers like Kansas and Oklahoma don't even belong to OPEC, policy makers changed their minds. Natural gas, which burns far more cleanly than coal or oil, has become the Clinton Administration's favorite fuel.

Deregulation at home and improved techniques for finding and transporting natural gas globally have lowered prices. Whoever stuck much of the crude under a collection of religious zealots, medieval-style monarchs and petulant warlords, wisely spread natural gas more evenly around the world. And in 1993, the United States for the first time produced more natural gas, in dollar value, than oil.

Surging international demand for electricity, especially in developing nations, has prompted companies like Enron to create their own markets by building gas-fired power plants. Israel plans to generate half its electricity from natural gas in a decade, up from nothing now.

But natural gas still lacks popular appeal. The geeks may have billions of dollars and much of the world's energy supply at their disposal, but they are not as flashy as the wildcatters or as easy to vilify as Arab despots. Hollywood gave us James Dean as Jett Rink in the film "Giant," but Johnny Depp will never play Ken Lay. For the natural gas companies, it seems that the only bursts of publicity come when the pipelines burst, as in Edison, N.J., last year.

Natural-gas company bosses love to chat about complex engineering and byzantine finance. Michael E. J. Phelps, chief executive of Westcoast Energy, says his wife never forgave his decision to quit criminal law for the natural gas business. "I used to come home and talk about murder, rape, robbery and sodomy," he told his colleagues at a Cambridge Energy Research Associates conference last week. "But demand commodity toll design doesn't make for the same dinner table conversation."

Besides which, natural gas smells funny. (Not our fault, say the natural gas guys. The scent is added for safety).

What to do? Learn how the computer nerds recast themselves as business geniuses able to put their products on every desktop and kitchen table. Maybe sign them up as partners. "In the future," says Oliver G. Richard 3d, chief executive of New Jersey Natural Gas's parent company, "you will probably find someone from Bill Gates's group at Microsoft trying to sell you natural gas in your home."
44 posted on 08/22/2002 1:07:00 PM PDT by tallhappy
[ Post Reply | Private Reply | To 1 | View Replies]

To: tallhappy
So Myerson's been covering Enron for over 7 years? That's a long time.

First time I've seen Ken Lay called "Dr. Lay," by the way. Highly unusual for Ph.D.'s to use the title.

45 posted on 08/22/2002 1:13:03 PM PDT by aristeides
[ Post Reply | Private Reply | To 44 | View Replies]

To: BureaucratusMaximus
"Because some people like acting like a dumba$$ to get attention."

Thank you
46 posted on 08/22/2002 1:28:03 PM PDT by SEGUET
[ Post Reply | Private Reply | To 10 | View Replies]

To: nonstatusquo
Actually, I have begun to think about his wife and children. If this is seen as a suicide, then they might not be eligible for life insurance benefits, so that might be a reason to say it wasn't a suicide.........

Unless he was married before it states here that they had no children

Myerson is survived by his wife, Carol Cropper Myerson, who works at BusinessWeek. They had no children.

47 posted on 08/22/2002 1:32:30 PM PDT by Kaslin
[ Post Reply | Private Reply | To 27 | View Replies]

To: ArcLight
His body landed on the roof of a nearby garage.

This line sounds odd assuming that "body" means dead body. It could be interpreted that he was dead before the fall. Or did he die during the fall by some other means, and thereafter his "body" landed on a garage.

48 posted on 08/22/2002 1:32:32 PM PDT by Undivided Heart
[ Post Reply | Private Reply | To 1 | View Replies]

To: roses of sharon
He looks a little like this (now):


49 posted on 08/22/2002 1:33:26 PM PDT by robertpaulsen
[ Post Reply | Private Reply | To 36 | View Replies]

To: ArcLight
To me, this is an obvious Arkancide; the dude's been fostered. He knows Enron. He has discovered all sorts of proof linking Willie, Hillie, Notsobright, McAuliffe, Rubin and several other leftists to the Enron criminal activities. He goes to his bosses at the Times and they forbid him to say anything about their guys. He protests, citing freedom of the press and the peoiple's right to know. They order him to turn in his notes, tapes, and files for "editorial review." He refuses and threatens to go up the journalistic food chain to the National Enquirer. The editors call Wille; Willie calls a couple of former Arkansas state troopers and some homies from around his office and, viola, we got a flying reporter/editor. Same as Foster. We'll never see the notes/records he had accumulated. The disgusting part will be all the pious words that will come from all the media sewers about "losing on of the great ones."
50 posted on 08/22/2002 1:34:27 PM PDT by Tacis
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-100101-133 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson