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InterNorth

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 1987

    Employee stock ownership plan share repurchase controversy

    Historical accounts of the successor company state that Ken Lay used more than $400 million from an employee stock ownership program to repurchase shares held by corporate raider Irwin Jacobs and address other losses. The account also states that the plan was subsequently frozen for seven years except for retirement or death benefits. This episode occurred after the InterNorth–Houston Natural Gas combination and is relevant to InterNorth's corporate legacy.

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