Word: enronize
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...sickening to hear executives from Enron invoke the Fifth Amendment and refuse to testify before Congress after they have stripped people of their life savings [NATION, Feb. 18]. Those people who gained personally at the expense of others should be treated the same as the al-Qaeda terrorists: they should be sent directly to prison. PHILIP MONGEAU Montreal...
...million Amount paid by the Houston Astros to buy back the naming rights to the former Enron Field...
...only peripheral connections to asbestos, among them media giant Viacom, baby-products maker Gerber (a subsidiary of Novartis) and Gallo Winery. If the cascade of litigation continues, according to a recent Tillinghast-Towers Perrin study, its financial toll could reach $200 billion, more than the damage attributed to the Enron debacle. "The liability--both projected and actual--is far in excess of Enron," says David Austern, general counsel for the Manville Trust, which was created from bankrupt asbestos maker Johns-Manville in 1988 to administer claims against the company. "Yet there seems to be very little congressional interest in this...
...Noted "Trust and reputation can vanish overnight. A factory cannot." ALAN GREENSPAN, chairman of the U.S. Federal Reserve, on how the collapse of Enron shows the fragility of companies lacking tangible assets...
Person of the Week OFFSIDE Dicey finances, hints of bribery, a financial collapse?FIFA president Sepp Blatter might have done well at Enron. Though he says all's well with football's ruling body, many in the sport see the launch of an internal investigation into FIFA's finances as tantamount to a yellow card for Blatter...