Ironic dotcom golden-age profile of Enron’s CFO:
Despite the traditional rules of financing, Fastow reduced the balance-sheet debt, maintained the credit rating, and reduced the cost of capital while simultaneously growing the balance sheet. In just the last two years, Enron has nearly doubled its total assets from $16 billion to $30 billion–without shareholder dilution and without a drop in the company’s credit rating. “He has successfully financed billions of dollars in a manner that has held credit quality,” says S&P’s Barone. “And that is not an easy thing to do. It is a testament to Andy’s focus on cash flow and his ability to think outside the box.”
(via Blogaritavilla)