Word: enronize
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Issue ? Topics include Michael Jordan, the debate over a national ID card, award shows and Enron's downfall...
Congressional investigators are out one potential star witness in the Enron scandal. Former Enron vice-chairman Cliff Baxter was found dead in his car early Friday morning in the Houston suburb of Sugar Land, with a Fort Bend County justice of the peace ruling Mr. Baxter's death a suicide by midday. (There was apparently a note, whose contents have not been disclosed...
...Baxter, who left Enron last May for the same official reasons Jeff Skilling did in August - "to spend more time with his family" - had complained internally to fellow execs about the company's risky accounting practices, and was mentioned prominently in Sherron Watkins' fiery letter to then-CEO Ken Lay. In other words, it's likely Baxter not only knew about Enron's bad bookkeeping habits, but whose idea they were, who kept them hidden and who, by extension, might deserve to go to jail when Congress, the SEC and the Justice Department finish their scrutiny of the affair...
...dead - with an Enron ID still in his pocket eight months into retirement - and he'll tell no tales. Meanwhile, congressional hearings-holders, having debuted in unimpressive fashion Thursday with Arthur Andersen auditor David Duncan taking the Fifth in the House and former SEC Arthur Levitt wearily reciting to the Senate what he'd told them two years ago about conflicts of interest in the financial system, took the day off Friday to update TV news channels on the state of the scandal. The subpoenas are in the mail and the show will only get better, but for now lawmakers...
...with a brief stopover in Sugar Land that will surely yield some titillating follow-ups, the Enron scandal turned back toward whence it came - Wall Street. The Wall Street Journal led Friday with a story that everyone might have been talking about if anyone could understand it - how investment bank JP Morgan held Enron's hand all the way to the Jersey Channel Islands to set up one of the company's offshore partnerships/tax havens/accounting dodges - and could stand to lose $1 billion on the deal. Implication: That something rotten you're smelling in the state of business is probably...