Case summary – Enron Corporation’s Weather Derivatives Steve Haik‚ Dan Sleker and Bas van Bellegem – March 2003 Background In October Mary Watts‚ CFO of Pacific Northwest Electric (PNW) reviewed the forward plan for PNW’s 200-2001 season. PNW’s has been experiencing nearly no EPS growth since 1995 due to deregulation and warmer-than-average winter climate. The stock price had suffered accordingly‚ but there maybe a way to hedge the weather risk via a new “weather derivative” being proposed by Enron’s
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HOW WEATHER EFFECTS PEOPLE How weather effects peoples lives and activities. Weather‚ is the day to day change in conditions including the changes in the atmosphere‚ these changes include temperature‚ levels of precipitation‚ wind speed‚ wind direction and the change in air pressure. These measurements are usually taken and recorded at least once a day. Weather is the day-to-day changes in Earths atmospheric conditions. Climate‚ is the average conditions for an area or country recorded over a
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A.D. 300 and 600‚ Hawaii was visited in 1778 by British captain James Cook‚ who called the group the Sandwich Islands. Hawaii was a native kingdom throughout most of the 19th century‚ when the expansion of the sugar industry (pineapple came after 1898) meant increasing U.S. business and political involvement. In 1893‚ Queen Liliuokalani was deposed‚ and a year later the Republic of Hawaii was established with Sanford B. Dole as president. Following annexation (1898)‚ Hawaii became a U.S. territory
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Islands. The Hawaiian Islands were seen as a prospective inclusion as Hawaii had much considerable aspects‚ including obtaining a military base and spreading nationalism‚ and seen as great commercial and industrial advantages. But the fact of the matter is‚ truthfully‚ the United States had no right nor authority interjecting themselves into the lives of the Hawaiian people‚ fraudulently and unconstitutionally overthrowing Hawaii. Many of the methods used to obtain such a lovely country were unconstitutional
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Paper It was the year 1840 when the Kilauea volcano region became a place to stop for the tourists of Hawaii. There was a volcano house that would shelter the tourist passing through‚ if they did not wish to stay in the community bed there were huts provided and if that was not good for them they would need to provide tents to pitch as their shelter. This Volcano house went under reconstruction around the 1860s and was said to be able to hold at least forty people. It wasn’t until 1866 that
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In 2003 a year before I was born my parents had went to Hawaii. They always told me stories about how it was a family tradition. My mom would tell me about how the waves were so enormous and bold and how they would crash into the water and disappear. Before my parents separated I told my parents that I would go to Hawaii as to keep the tradition are family tree had made. Now that I have a chance to I will go to some of Hawaii’s main attractions. Such as…..volcanoes‚ the Blue Lagoon‚ and to see the
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How Business Sustainability changed me: Taking Business Sustainability course has changed me on a personal level. I’ve never had a deep connection with nature. As a kid I have spent many family vacations in the middle of a forest because of my father’s fascination with his job (He is a retired forest engineer/carried out forestry research). To be honest‚ I never really understood his relationship with trees and nature. Now I value nature more. I appreciate environment more. I acknowledge that
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the ways in which soldiers fill their time when they are not fighting. Yet Hemingway’s realistic approach to his subject does not rule out the use of many time-honored literary devices. For instance‚ weather is to this day a fundamental component of the war experience. Hemingway depicts weather realistically in A Farewell to Arms‚ but he uses it for symbolic purposes as well. Rain‚ often equated with life and growth‚ stands for death in this novel‚ and snow symbolizes hope: an entirely original
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Imagine leaving your house on the way to Hawaii. When we got to the airport I met this girl around my age and we became friends until we had to leave. It was a long flight but when we landed in Honalulu the pilot let me sit in the cockpit because I was the only kid on the flight. We checked in at the Waikiki Banyan for five nights. Later that night we went to the Luau which is a group of Hawaiian woman dress in grass skirts and dance at the beach. The next day we woke up pretty early to see
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doubled as fish ponds. Kalo farm in Hawaii. Lepchas There is no rigid division of labor based on sex; women‚ however‚ are strictly forbidden to kill any animals. Groups of women and men work side by side in the fields‚ and although men generally weave the baskets and mats‚ and women spin yarn‚ if one of the sexes were to try one or the other activity‚ no stigma would be attached to it. Hawaiians Most agricultural labor was performed by men in ancient Hawaii‚ as was woodworking and adz manufacture
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