Word: client
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Then again, where will you find a developer willing to pay for 40 stories of unprofitable frosting on his cake? Great architecture requires a great client, one who is committed to excellence in the design, even when other factors, like cost or convenience, stand in the way. Does anyone in this process have the willingness--and the authority--to assume that role? Stay tuned...
...much of 2001, the partners at Arthur Andersen battled behind closed doors over Enron, a demanding, rule-bending client that paid Andersen more than $50 million a year. At Enron's behest, an Andersen partner considered "too rule oriented" was taken off the account. But the head of the Andersen audit team based inside the Enron building, David Duncan, endured. He was privy to board meetings, conference calls and paper trails as Enron's web of deceit began to unravel--dragging Andersen down too. He's now the government's key witness in its obstruction-of-justice case against...
...summer of 2000 that "he was feeling frustrated with the complexity of the situation and concerned about what Andersen was doing and what was right." Duncan's pastor, Jim Jackson, says the accountant told him he had suggested to colleagues that Andersen should consider dropping Enron as a client...
...latest black eye for Pitt came with the revelation that on April 26 he met secretly with Eugene O'Kelly, the new chairman of accounting firm KPMG, which is under SEC investigation for its audits of Xerox. The accounting firm was Pitt's legal client for years, and the meeting prompted the Wall Street Journal and the Financial Times to run editorials saying Pitt may have to go. In an interview on CNBC last Friday, Pitt called his critics "misguided" and said, "I will serve as long as the President has confidence...
With Spitzer and, belatedly, the Securities and Exchange Commission pressing for reforms, analysts' opinions may again mean something someday. In the trove of e-mails that Spitzer uncovered are hints of revolt among analysts who would welcome an environment in which they were encouraged to put the client first. But that's for later. For now, investors should seek research outside the big brokerages--including among the analysts who have fled them...