html Feds Want To See Enron Videotape
President Bush Also Takes Part In Skit December 17, 2002
HOUSTON -- Skits and jokes by a few former Enron Corp. executives at a
party six years ago were funny then, but now border on bad taste in light of
the events of the past year.
A videotape of a January 1997
going-away party for former Enron President Rich Kinder features nearly half
an hour of absurd skits, songs and testimonials by company executives and
prominent Houstonians, the Houston Chronicle reported in its Monday
editions.
The collection is all meant in good fun, but some of the
comments are ironic in the current climate of corporate scandal.
In
one skit, former Administrative Executive Peggy Menchaca played the part of
Kinder as he received a budget report from then-President Jeff Skilling, who
played himself, and Financial Planning Executive Tod Lindholm.
When the
pretend Kinder expressed doubt that Skilling could pull off 600 percent
revenue growth for the coming year, Skilling revealed how it could be done.
"We're going to move from mark-to-market accounting to something I call
HFV, or hypothetical future value accounting," Skilling joked as he read
from a script. "If we do that, we can add a kazillion dollars to the bottom
line."
Richard Causey, the former chief accounting officer who was
embroiled in many of the business deals named in the indictments of other
Enron executives, made an unfortunate joke later on the tape.
"I've
been on the job for a week managing earnings, and it's easier than I thought
it would be," Causey said, referring to a practice that is frowned upon by
securities regulators. "I can't even count fast enough with the earnings
rolling in."
Joe Sutton and Rebecca Mark, the two executives credited
with leading Enron on an international buying spree, did a painfully awkward
rap for Kinder, while former Enron Broadband Services President Ken Rice
recounted a basketball game where employees from Enron Capital & Trade
beat Kinder's Enron Corp. team, 98-50.
"I know you never forget a
number, Rich," Rice said.
President George W. Bush, who then was
governor of Texas, also took part in the skit, as did his father.
At
the party, the younger Bush pleaded with Kinder: "Don't leave Texas. You're
too good a man."
The governor's father also offered a send-off to
Kinder, thanking him for helping his son reach the governor's mansion.
"You have been fantastic to the Bush family," the elder Bush said. "I
don't think anybody did more than you did to support George."
Federal investigators told News2Houston Tuesday that they want to take a
closer look at the tape.
Investigators with the House committee on
government reform are in the process of obtaining a copy of the tape,
according to News2Houston.
Former federal prosecutor Phil Hilder said
that what was a joke could become evidence for federal investigators.
"There's matters on there that a prosecutor may want to introduce as
evidence should it become relevant," Hilder said.
Former employees
were shocked to see the tape.
"It's too close to the truth, very close
to the truth," said Debra Johnson, a former Enron employee. "I think there's
some inside truth to the jokes that they portrayed."