Word: enronization
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...grilling of ex-Enron CEO Jeff Skilling is over. Next up is what prosecutors hope will be the filleting of company founder Ken Lay, who will take the witness stand Monday in the ongoing fraud and conspiracy trial...
That doesn't mean you should dismiss Wall Street research out of hand. Much of what analysts produce is helpful, especially if what you seek is broad background on an industry. Occasionally, analyst conclusions are earth moving. Recent testimony in the trial of former Enron top dogs Kenneth Lay and Jeffrey Skilling revealed it was an analyst who first questioned the company's finances, prompting Skilling to fret aloud, "They...
...Staff Eric Shinseki, was a lame duck 15 months before his term was slated to end. "It was condescending and a little bit cruel," says Barry McCaffrey, a retired four-star Army general. A month later, Rumsfeld loyalists made it clear that Army Secretary Thomas White, a former Enron executive who vainly tried to thwart Rumsfeld's decision to kill the Crusader, was one more mistake away from losing his job. "It's pretty clear that the Army is going to be the big loser," says Lawrence Korb, a top Reagan-era Pentagon aide. "If it were...
Ultimately Rao is counting on his students to create a more genuine ethic of business, one that would not allow a scandal like Enron to take root. He likes to imagine what a generation of other-centered businesspeople could do for the world. "In about a decade, my students will be in leadership positions," he says with a satisfied smile. "And they will ask, What can I do to make things better...
...ignorance defense has not worked for other board chairmen in trials this past year, Androphy says. He believes that Skilling's defense will argue that all the deals at Enron started off perfectly legit and legal-until people like Fastow, the former chief financial officer, committed crimes-but that all along he believed the company was following the letter...