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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jan 15, 2002
Page
1
UBS Warburg will acquire Enron's energy trading business without upfront cash and share a third of pretax profits with Enron and its creditors for at least two years. After three years UBS may buy one third of Enron's stake and later buy remaining shares. Court approval needed.
Officials feared a conflict in the Enron case as the company generated about 90 percent of its $101 billion revenue in 2000. The deal excludes Enron's existing power supply contracts valued at $6 to $7 billion. Trading of Enron shares is noted on page 2A.
Blanton Elementary students visit the Ellen Noel Art Museum of the Permian Basin to study Carmen Lomas Garza’s papel picado and paintings. They observe color, motion, and cultural themes from life in a South Texas barrio and Garza’s childhood image El Milagro.
In Zawar Afghanistan villagers report intense U S airstrikes targeting Taliban and al Qaida forces hidden in mountain caves. Civilians flee with women and children sent to safety in Khost as nights bring the strongest blasts and fear. Local residents describe improvised shelters and ongoing rebuilding amid the two week campaign.
Texas Attorney General John Cornyn formally began his bid to replace retiring Senator Phil Gramm. He outlined a pro family and pro education platform at campaign stops in San Antonio Houston Dallas and Austin. He cited lowering taxes to spur growth and highlighted Cadeco Industries in East Houston as a successful example of American enterprise.
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