Word: bankrupting
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...Randy Schrieber, vice president of ABB's U.S. Power Technologies division. "But the impetus that the utility companies have shown from the blackout bodes well for us." This promising news and the streamlining instituted by Jurgen Dormann, the German CEO who was imported last year to save the nearly bankrupt company, have provided a jolt to ABB shares. Their price rose 75% from June to September...
...save companies from disastrous oversights and unethical corner cutting, since their ties to the firm tend to be stronger than those of free agents who hopscotch from job to job. And they know how to unjam the copier. One reason Enron, a company packed with hotshots, went bankrupt was that good, solid employees--like whistle-blower Sherron Watkins--were shunted aside in the gold rush. "B players strive for advancement but not at all costs. This attitude is anathema to most A players," DeLong and co-author Vineeta Vijayaraghavan recently wrote in the Harvard Business Review...
...could cost up to $200 million per bank. Expect a showdown at next month's Basel reunion of central bank heads. - By Peter Gumbel One Down, So Many To Go Ben Glisan, former treasurer of Enron, became the first executive to be imprisoned over the accounting scandal at the bankrupt energy firm. Glisan was sentenced to five years in a U.S. prison after pleading guilty to securities and wire fraud...
...what a surprise that the rich are getting richer under a Republican President. I personally think this country is spinning out of control under this Administration, with a war that nobody wants, a relaxation of environmental-protection laws and states and cities that are bankrupt. If Bush is a President of the people, I would like to know who those people are. I will be very active during the next presidential race working to remove this prancing peacock from office. FRANCES J. BELL Pittsburgh...
...Committee, then Bush?s reelection committee. Before deregulation, the state?s residents enjoyed the nation?s fifth lowest utility rates from Montana Power Company. But then the unregulated company sold off its generation and transmission equipment and plowed the $2 billion in profits into a telecom subsidiary that went bankrupt. The result: utility rates soared and are still going up as power lines collapse in the forest fires...