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News > Companies
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Enron 'E' going, going, gone!
Bankrupt energy trader auctions off a logo as it tries to raise money.
September 25, 2002: 4:33 PM EDT

NEW YORK (CNN/Money) - An Enron "E," one of the energy trader's five-foot stainless steel logos, has been auctioned off for $44,000 as the bankrupt company tries to satisfy its lenders by raising money.

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Witness Enron's "E" -- the five-foot stainless steel logo -- being auctioned off.

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The buyer, Jimmy Luu, 28, was bidding for his boss, who owns Micro Cash, a computer retailer that plans to display the "E" outside its store in Houston.

In an effort to recoup some cash to pay off creditors, the bankrupt company is auctioning excess furniture, computer equipment and marketing products Wednesday and Thursday.

Enron put at least 10,000 items from its offices on the block, drawing more than 2,000 people to the auction. An additional 10,000 people, mostly curiosity seekers, are on line.

Need a 5-foot E?  
Need a 5-foot E?

A similar "E" piece from Enron Europe sold for $15,000 at the company's first surplus auction in London. Auctioneers expected about $25,000 to $30,000 for the one that sold Wednesday.

Enron spokeswoman Karen Denne said the auction is expected to raise "several million dollars."

For those interested in obtaining some Enron memorabilia, there are three ways to bid: go to the auction site in Houston, bid via a Webcast using a telephone, or place an absentee bid.

Enron's army of Aeron chairs are up for sale  
Enron's army of Aeron chairs are up for sale

Former Enron employees can place bids, but the sale is off limits to directors, corporate officers and outside consultants.

Houston-based Enron filed for bankruptcy in December after revealing that it overstated millions of dollars in profits by using off-the-books partnerships to mask debts and hide losses.  Top of page


--from staff and wire reports




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