Enron Is Seeking Outside Investors As It Pursues Global Water Projects

Article Abstract:

To increase its international presence, Enron Crop. (Houston, TX) is expected to announce the name of its water subsidiary - called Azurix. This new unit will be based both in Houston, and London. The company is in the process of buying Wessex Water PLC for $8 billion. Enron was part of a consortium that bought an Argentinian water and sewer company. Enron is seeking funds to purchase companies in Brazil, and the U.S. However, Enron will provide no additional funds. Enron has used this method successfully in the past, when the California Public Employee's Retirement System invested in Enron's global energy projects.

Comment:

Enron names new unit to management worldwide water utility purchases, and seeks partners to help acquire more

Water Supply and Irrigation Systems, Company Planning/Goals, Alliances, partnerships, Water Utilities, Parent-to-subsidiary activities, Enron Corp., Article

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Iridium LLC is slashing its ad budget

Article Abstract:

Iridium LLC brings its ad budget from $145 million in 1998 to $12 million in 1999. The global satellite communications service claims 15,000 subscribers; it had hoped for 500,000 by the end of 1999. Iridium has discharged the agency of record Ammirati Puris Lintas and plans to narrow its marketing focus.

Radio & TV communications equipment, Advertising, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Advertising Activity, Satellite Communications Eqp, Column, Telecommunications equipment industry, Iridium L.L.C., Satellite communications systems

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