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It was a dangerous move—as a company spokesman later put it, "the risk was huge." In the end, it proved disastrous. Aquila's decision to join Enron, Reliant Energy, and the other heavy-hitters in the energy trading markets would ultimately wipe out 94 percent of Aquila's stock value between 1999 and 2004. The company also faced criticism for using some of the same trading tricks that Enron did as a way to puff up its stock price, the lawsuit says. That included using "roundtrip" trades, a scheme in which Aquila would sell a trading partner some energy and then that partner would sell the same amount back to Aquila, a deal that canceled itself out. In the end, nothing actually changed hands. But it boosted Aquila's trading volume and revenue, sending a positive signal to the markets. The company also engaged in megawatt laundering, or "ricochet" trading, the lawsuit alleges. In such transactions, Aquila and other companies would buy energy from California at a lower capped price, move that energy out of the state, then re-sell it back to California at a higher price for a tidy profit.
1985: $325 million[iii] (720 stores)
Pillsbury assigns Herman Cain to run Godfather’s Pizza in April 1986
1986: $275 million[iv] (640 stores)
1987: $260 million[v] (605 stores) (sales per store $414,000)[vi]
1988: $242.5 million[vii] (563 stores) Pillsbury sells Godfather’s Pizza to Cain and management group in a leveraged buyout for $40 million.
1989: $225 million[viii] (509 stores)
1990: $229 million[ix] (512 stores)
1991: $231 million[x] (525 stores)
1992: $242 million
1993: $249.5 million
1994: $244 million[xi] (514 stores) (sales per store 490,000)
1995: $260 million (525 stores)
1996: $265.5 million (540 stores) (sales per store $500,000) Cain becomes CEO of the National Restaurants Association in 1996, but was still on Godfather’s Management Board.
1997: $270.8 million[xii]
1998: $280 million
1999: $280 million
2000: $288 million[xiii]
2001: $280 million
2002: $287 million (560 stores) (sales per store 502,200)[xiv] Cain steps down from Godfather’s Management Board
Cain name-checked Richard Lowrie during Tuesday night's Republican debate on economic policy, and his campaign confirmed to HuffPost that Richard Lowrie Jr., a Wells Fargo employee in Pepper Pike, Ohio, outside of Cleveland, was the official adviser to his campaign who hammered out the "9-9-9" plan.
According to Lowrie's LinkedIn profile, his education tops out with a Bachelor of Science in accountancy from Case Western University. He has no formal training in economics, and there is no indication that he has ever worked on public policy. According to that same profile, Lowrie's political experience includes working on the board of advisers for Americans For Prosperity, a hardline conservative outfit founded by the Koch Brothers, until 2008. In 2011, the group ran into trouble for posting fake eviction notices on the doors of Detroit families. Lowrie's LinkedIn profile also says he works on the volunteer advisory panel for the American Conservative Union.
Originally posted by eLPresidente
Richard Lowrie Jr., a Wells Fargo employee in Pepper Pike, Ohio, outside of Cleveland, was the official adviser to his campaign who hammered out the "9-9-9" plan.
According to Lowrie's LinkedIn profile, his education tops out with a Bachelor of Science in accountancy from Case Western University. He has no formal training in economics, and there is no indication that he has ever worked on public policy.