Word: enronization
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Dates: during 2000-2009
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...your weaknesses, and give a good reason for it.” If you know that something will cause them to question your ability—a lower GPA, for example—you should try to turn it into a plus by explaning that you were short-selling Enron instead of going to class...
After Enron’s collapse, Krugman also assailed Bush and Vice President Dick Cheney for doing fuzzy math of a different sort. He accuses Cheney of engaging in a less than immaculate collaboration with Enron when creating an energy plan. He excavates an embarrassing connection between the defense-contracting Carlyle Group, of which George H. W. Bush is an employee, and the bin Laden family. And he exposes Harken Energy’s fake profits and hidden losses, noting that George W. Bush had not only heavily invested in the company, but sat on its board of directors...
Herbert S. “Pug” Winokur ’64-’65, a director of Enron during its collapse, resigned in 2002, only two years after his appointment...
...nurture and train inexperienced employees. The B's can 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...
...fact, elements of the management structure championed by former Enron CEO Jeffrey Skilling, who instituted a "forced ranking" system, have infiltrated deep into corporate America. Such systems rank employees along a bell curve in which the top 10% typically receive an A grade or equivalent, the middle 80% earn a B, and the bottom 10% earn a C--and a send-off if they don't improve. Such "rank and yank" systems gained popularity in the 1990s, and about a third of companies now use them, up from 13% in 1997, according to the consulting firm DDI. "Of course...