Thursday

White Blogule to the UT Watch - UTIMCO - The Texas chain not only saw but also did the massacre

Archives 20040817 (see blogules 2004)

Praise UT Watch for keeping an eye on UTIMCO* and maybe leading to a few changes.
How about the portfolio ? Enron, Carlyle, KKR... you name it ! Note that Vinso & Elkins didn't blink as UTIMCO lost about $1 bn on Enron in a year : they were working eyes wide shut for that company as well.

Hicks wouldn't have blinked either : he overpaid Dubya for the Rangers years ago, and now funds the Bass family who overpaid Dubya for Harken Oil. There is always someone to pay for their smart moves : here the state university, elsewhere the taxpayers or the boys in the quicksands ot Iraq.

Take some time and see the Texas connection at work through the maze of cross-fundings. Pick up any name you come across and pull the thread.

SM on a forum

* "The University of Texas Investment Management Company (UTIMCO) was formed in March of 1996 by the special efforts of Tom Hicks and Vinson and Elkins. It is contracted by the UT Board of Regents to manage and invest the University's funds."

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