Word: arthur
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Half your business staff hired by Arthur Andersen after graduation...
...veritable Who's Who of the scandal: There's Lay, who resigned from Enron's board Monday night and decided not to show up before two Congressional committees Monday. Former CFO Andrew Fastow and aide Michael Kopper are expected to show up just long enough to take the Fifth. Arthur Andersen CEO Joseph Berardino is due today to talk about how much he didn't know. And so just as the cluster of Enron probes took a sharp turn over the weekend toward sending people "to the pokey," as Rep. Billy Tauzin put it Sunday, lawmakers are finding themselves either...
Some telecom companies are getting a second look, partly because more than a few use Arthur Andersen, Enron's auditor, but also because many achieved their once spectacular growth partly by immediately recognizing revenue from long-term contracts, analysts say. Qwest has received the most attention because its merger with US West opened the door to other accounting issues. Qwest has denied that it did anything wrong. "Think about a bottle of wine," former SEC chairman Arthur Levitt said in a speech two years ago. "You wouldn't pop the cork on that wine before it was ready. But some...
...years, Congress has aided the accounting industry's efforts to avoid new auditing rules. Torricelli is one of many lawmakers (including Connecticut Senator Joe Lieberman) who have pressured the SEC several times over the past decade to back off on tougher regulations for auditors. Clinton-appointed SEC chairman Arthur Levitt tried to enact rules that would have kept firms from auditing and consulting for the same clients and forced companies to publicly disclose more liabilities, such as executive stock options. Each time Congress quashed Levitt's efforts. But that opposition was gone at last week's hearing. "Perhaps...
DIED. JOHN ARTHUR LOVE, 85, former Republican Governor of Colorado and, under Richard Nixon, the nation's first energy czar; in Denver. Love, first elected in 1963 with scant political experience, served a record 10 years. He lured many businesses to Colorado, but as a moderate often differed with fellow Republicans on the environment and abortion...