Word: andersens
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Dates: during 2000-2009
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...Burns is something of a pioneer. An avid hiker who likes to spend time at her North Carolina cabin, she became the first female CFO of a major airline two years ago, after becoming the first woman partner in the Atlanta office of accounting firm Arthur Andersen. "Most airlines echo the military structure, where many of the executives used to come from," she says, "but Delta has evolved into an organization that you might say is more welcoming to a female style. We reach across the company and use a team approach. And we don't follow the chain...
...under control. But he did not. "In the corporate world," he declared when pressed about how Harken Energy had hidden losses while he was on its board, "sometimes things aren't exactly black and white when it comes to accounting procedures." It was a defense that only an Arthur Andersen executive could love. The President whose wartime rhetoric runs to all or nothing was making a case for relativism; his business experience was being channeled not into a call for probity but into an excuse for conduct he would declare unethical in a speech the next...
...downturn driven not just by a sick economy but by disillusion over everything from Vietnam to Watergate. This too is a summer not of one scandal but of many-the Roman Catholic Church, and the FBI, and Major League ballplayers on steroids. Comedians joke that Arthur Andersen tries to cover up corruption by rotating accountants from diocese to diocese, that Enron and K Mart will merge so Martha Stewart can design the prison uniforms. In each case it is the mighty who have fallen. The church scandal was as much about complicit Cardinals as about wayward priests; the FBI field...
...Securities and Exchange Commission. The SEC has filed fraud charges and is launching an investigation--as is the Justice Department, at least two congressional committees and the state of Mississippi, where WorldCom is based. All current and former employees, along with WorldCom's ex-accounting firm, Arthur Andersen, have been ordered to refrain from Enron-like paper shredding. Investigators are especially eager to hear from WorldCom founder Bernie Ebbers, who resigned as CEO in April, not long after it was revealed that he owed the company $366 million in low-interest loans. Ebbers had worked closely with Sullivan, whose office...
...WorldCom's auditor--Arthur Andersen, the firm convicted of obstructing justice in the Enron case--somehow missed it. Andersen, which was paid $4.4 million a year to certify that WorldCom's books were honest, says WorldCom CFO Sullivan never handed over the material Andersen requested. "That's like a police officer saying the criminal didn't turn himself in," scoffs analyst Patrick Comack of the brokerage Guzman...