Word: auditioned
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Dates: during 2000-2009
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...director, without apology? Bush received subsidized loans from Harken to buy company stock--a practice he now wants to ban. In 1989 Harken concealed losses by selling most of a subsidiary to an off-the-books entity controlled by company insiders. Bush was on the audit committee, which, at least in theory, approved the deal. It's the same tactic used by Enron--on a massive, more pernicious scale--before it imploded...
...fall of 1990 and forced the company to restate its earnings early the next year. The $3.3 million loss became a $12.6 million loss. White House officials say Bush was clueless about the tricky accounting. "They gave discretion to the CEO," says communications director Dan Bartlett. He adds, "Audit committees were different then than they are now." Bush, who last week called on directors to "ask tough questions about accounting methods," doesn't hold himself to that standard. Harken's case, he told reporters, was one in which "the rules aren't as specific as one would expect, and therefore...
...Justice to impose a €158,250 fine on France for each day it refuses to lift its ban on British beef. The French government has ignored the court's earlier ruling that the ban is illegal. BOTTOM LINES "If you saw something, you stopped it. Oh, a good audit was a beautiful thing." Al Bows, 88, retired Andersen senior partner, on accountancy when Arthur Andersen hired him in 1935 "It looks to me like spring, when the snow melts and you see the dog shit that's been there all winter." John Malone, chairman of Liberty Media...
...Wendy Gramm, the wife of Texas Senator Phil Gramm. As a top federal regulator during the previous Bush Administration, Wendy Gramm promoted a lucrative regulatory exemption that benefited Enron, and then became a director of the company months later, in 1993. She also served on Enron's crucial audit committee as the board "knowingly allowed Enron to engage in high-risk accounting." Another of the report's conclusions is that Enron directors were aware of everything from extensive off-the-books deals to conflicts of interest and excessive compensation for senior executives--and did little or nothing about the alleged...
...director, without apology? Bush received subsidized loans from Harken to buy company stock-a practice he now wants to ban. In 1989 Harken concealed losses by selling most of a subsidiary to an off-the-books entity controlled by company insiders. Bush was on the audit committee, which, at least in theory, approved the deal. It's the same tactic used by Enron-on a massive, more pernicious scale-before it imploded...