Douglas Foshee CEO of El Paso Corp. and former employee of Halliburton
3 EXCERPTS:
1) Prior to joining El Paso in 2003, Foshee served as executive vice president and chief operating officer for Halliburton. He joined Halliburton in 2001 as executive vice president and chief financial officer.
2) Douglas L. Foshee is chairman, president, and chief executive officer of El Paso Corporation, which owns North America’s largest natural gas pipeline system and one of North America’s largest natural gas producers.
3) Foshee serves on the boards of Cameron International Corporation, Texas Business Hall of Fame Foundation, Central Houston, Inc., and Greater Houston Partnership. He also chairs the board of directors of The Federal Reserve Bank of Dallas, Houston Branch. From January 2009 until February 2010, Foshee was appointed by the U.S. Treasury and the Federal Reserve Bank of New York to serve in a leadership role as an independent trustee of the AIG Credit Facility Trust. The Trust was established by the U.S. Treasury to hold the 77.9-percent equity interest in American International Group (AIG).
El Paso Corp. and donations to Republicans
EXCERPT:
The El Paso Corporation, which gave $750,000 to the Republican campaign, is now under investigation for manipulating the California power market.
Charles D. Rice commits suicide
EXCERPT:
HOUSTON -- A high-ranking energy executive died in an apparent suicide over the weekend, officials said Monday.
El Paso Corp. Senior Vice President and Treasurer Charles Dana Rice was found dead at his southwest Houston home Sunday, company officials said.
Rice, 47, had been employed by the company for 25 years . El Paso Corp. officials said that the employees are deeply saddened by Rice's death.
Corp/CEO scandal
EXCERPT:
El Paso/ William Wise Identified 125 "round trip" trades used to bolster revenues and market share. SEC, CFTC, Houston US Attorney's office Deloitte & Touche LLP to Democrats: $0; $0 CEO; to Republicans: $277,569; $8,558 CEO $39,286,780 salary stock option grants
William A. Wise of El Paso Corp. takes mucho $$$ when he leaves and some of his family benefited as well
EXCERPT:
Friday, April 18, 2003
Wise leaves El Paso with bountiful booty
Former leader took home $50 million during last three years, could get $840,000 annually in retirement
Read more: Wise leaves El Paso with bountiful booty - Houston Business Journal
NOTICE THE DATE
El Paso Corp. August, 2001
EXCERPT:
In their second allegation, authorities claim that the company withheld pipeline capacity into California to jack up prices illegally; a judge's ruling is expected in October. Regulators note that spot prices for natural gas in Southern California spiked to more than double national spot rates. "A big reason for the increase in consumers' electricity bills is because El Paso manipulated prices at the California border," alleges Harvey Y. Morris, the state utilities commission attorney arguing the case before FERC.
El Paso Corporation
EXCERPT:
The Ruby Pipeline is owned by El Paso Corporation who are no strangers from scandal and legal proceedings. In August, 2006 the company was involved in a securities fraud claim resulting in fines and restitutions amounting to $285,000,000. Shortly after the suicide of Enron executive Clifford Baxter, who had been in the middle of being questioned about El Paso Corporation, another executive Charles Rice was found dead with a gunshot wound to his head. Authorities labeled Rice's death as a suicide also. El Paso paid 15.5 million dollars to the State of California to settle the Enron scandal claiming that El Paso had manipulated power sources and prices in California.
The El Paso Corporation was fined 2.3 million, the largest fine ever levied against a pipeline company for the 2006 accident and death of Bobby Ray Ownens, Jr. of Louisiana. Owens was a bulldozer operator working in the Rockies Express Pipeline when his machinery struck a buried 36" natural gas pipeline owned by El Paso Corporation. Owens was killed, and the explosion and fire devoured 600 acres. An investigation revealed that federal requirements which require pipelines to be specifically marked as to location to provide protection for American workers had not been done.
The list of complaints continue from non-compliance with New Jersey's Air Pollution Control Act with a fine of 1.1 million dollars to complaints in Kentucy for releasing PCBs without permits.
So how much are the wild horses really impacting the environment as the BLM contends? Ginger Kathrens, Executive Director of The Cloud Foundation states, " The BLM is spending more than $30 million dollars to quickly eradicate an irreplaceable piece of American living history. I ask myself, what's the rush? Is it only pressure from ranchers? Does the BLM fear the ROAM Act will pass? Is it to clear the land for the Ruby Pipeline project, or is it something else?
Judge steps down that owned stock in El Paso Corp.
EXCERPT:
The judge has an investment in Ocean Energy valued between $15,001 and $50,000, which produces interest valued between $1,001 and $2,500.
Other holdings include investments in Provident Energy Trust, El Paso Corp., Energy Transfer Equity, Basic Energy Services, Valero Energy Corp. and Crosstex Energy LP.
An Associated Press analysis has found that more than half of the federal judges in districts where the bulk of Gulf oil spill-related lawsuits are pending have financial connections to the oil and gas industry. This could complicate the task of finding judges without conflicts to hear the cases.
El Paso Corp. Wikipedia
EXCERPT:
El Paso Corporation (NYSE: EP), provides natural gas and related energy products and is one of North America's largest independent natural gas producers. It is headquartered at 1001 Louisiana Street in Downtown Houston, Texas. United States.[1]
The company owns North America's largest natural gas pipeline system which goes from border-to-border and coast-to-coast. The system includes Colorado Interstate Gas, El Paso Natural Gas, Southern Natural Gas, and Tennessee Gas Pipeline. The El Paso Corporation also owns fifty percent of Great Lakes Transmission and Florida Gas Transmission and employs 6,000 people. Florida Gas is part of Southern Natural Gas. In 1999 the company doubled in size when it merged with Birmingham, Alabama based natural gas giant Sonat.[citation needed] The company's major offices are located in Houston, Texas, Birmingham, Alabama and Colorado Springs, Colorado. The company's current CEO is Douglas L. Foshee.
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