Word: enronization
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...moral victory is won, says Steve Berman, a Seattle attorney representing some 21,000 employees who lost their pensions. "Now we hope to get them an economic victory." Banks like JPMorgan Chase and Citigroup, who financed Enron's schemes with stock and bond offerings, have already agreed to pay $7.3 billion in restitution to shareholders. They're getting nothing from Skilling and Lay, whom the feds are already dunning for more than $150 million. "There's little chance of recovery from them, but most will be satisfied that Skilling and Lay were convicted," says Robin Harrison of Houston...
...reporter caught me while I was sitting in the sanctuary of First Presbyterian Church awaiting the joyous and celebratory graduation services of my daughter's grade school. "What do you feel about the verdicts?" Since I had met with Ken Lay in August 2001 to warn him of Enron's shady accounting and Lay for the most part ignored my warnings, the reporter wanted to know, "Do you feel vindicated?" My mood did not remain joyous or celebratory. I stammered something about being satisfied that justice prevailed. What I couldn't convey in words is a sense of sadness, sadness...
...early 2001 Lay and Jeff Skilling, Enron's longtime leaders, unveiled a new mission statement. No longer would Enron strive to be "The World's Leading Energy Company"; we were going to be "The World's Leading Company." Why limit ourselves to energy? Enron was fast-paced, inventive, exciting; we epitomized the New Economy, able to innovate virtually overnight. Unfortunately, in life, our strengths can become our weaknesses. Just as the dark side of charisma is narcissism, the dark side of innovation is fraud. Enron fell victim to both. Our finance, accounting and legal departments pushed...
...fall of 2001 Lay was telling us that Enron's future had never looked better, even as he was cashing in his Enron shares. By taking care of himself, Lay violated one of Jesus' leadership lessons, found in Mark 9:35: "If anyone desires to be first, he must be last of all, and servant of all." We need to applaud the servant-leader, the one who clearly demonstrates that the interests of the organization and its customers, employees and investors (in that order) come first, not his own. Humility is a critically important trait in leaders. We have...
Watkins, one of TIME's Persons of the Year in 2002, is co-author of Power Failure: The Inside Story of the Collapse of Enron. She now lectures on leadership and ethics