- HOUSTON (Reuters) - The
turnaround veteran picked to guide Enron Corp. out of its financial morass
told employees on Tuesday he had seen companies in worse shape and
predicted
the ruined energy trader would survive bankruptcy.
-
- Stephen Cooper, named the company's interim chief
executive
officer on Tuesday, told employees that Enron was in much better shape
than some of the hundreds of other companies he and his partners have
represented
in bankruptcies and reorganizations.
-
- "They don't start with anywhere nearly as strong
a position as this company. They were able to emerge successfully from
bankruptcy and I'm confident that Enron will also," Cooper said in
a voice mail sent company-wide on Tuesday morning and which was made
available
to Reuters.
-
- Cooper, who is a managing principal at New York- and
Los Angeles-based restructuring firm Zolfo Cooper, said Enron has
sufficient
cash on hand and will generate enough in the future to stay afloat long
enough to restructure.
-
- "It doesn't appear as if we will have any liquidity
issues or liquidity crisis going forward," he said.
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