Word: cfo
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...asked, was chief financial officer Andrew Fastow sharing the stage--and gainfully employed--considering that he had just blown half a billion dollars mismanaging several Enron partnerships and earned $30 million doing it? Lay put his arm around Fastow and proclaimed his "unequivocal trust" in the CFO. The partnership accounting was complex stuff, Lay explained, but Fastow was on top of it--or he'd be in big trouble. A day after that buddy-buddy display, Fastow was history...
...send to jail and toward discussing how to fix the real problems. The people dodging House microphones are a veritable Who's Who of the scandal: There's Lay, who resigned from Enron's board Monday night and decided not to show up before two Congressional committees Monday. Former CFO Andrew Fastow and aide Michael Kopper are expected to show up just long enough to take the Fifth. Arthur Andersen CEO Joseph Berardino is due today to talk about how much he didn't know. And so just as the cluster of Enron probes took a sharp turn over...
...senior financial executives had previously worked for Andersen in Houston: Richard Causey, Enron's chief accounting officer, and Jeffrey McMahon, chief financial officer. Although it's not unusual for auditors to be subsequently hired by their clients, Andersen has an unusual history-in Waste Management's case, supplying every CFO from...
HELMUT PANKE Car Guy The ultimate driving machine soon will have a new master. Panke, 55, was named CEO of BMW after Joachim Milberg announced he would retire in May 2002. Panke, now the CFO, has been with BMW for 19 years; in the 1990s, he was head of U.S. operations. He plans to retain BMW's strategy of staying small--and profitable--unlike larger, ailing competitors such as Ford...
...holdings in LJM allowed it to maintain partial control of the assets. Problems arose when Enron began holding back information from investors. Analysts also began to question if there was a possible conflict of interest for Jeff Skilling, who was the managing partner in LJM and the Enron CFO, and was believed to be making a personal profit from the deals...