Word: enronization
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That Prince is a lawyer who has functioned as Weill's Mr. Fix-It says a lot about financial institutions these days. Citi is still stinging from a string of ethical lapses related to its financing of Enron and to the tainted stock research of former telecom analyst Jack Grubman that helped feed the stock-market bubble. There's also plenty of skepticism, even inside the firm, that Prince is anything more than a seat warmer to get through this turbulent period. A quiet man and a consummate insider, Prince also faces a personal challenge: he will have to step...
...Enron...
COMPANY: After its market cap fell $60 billion, Enron is mostly scrambling to pay back creditors...
...Enron controversy spreads to Harvard as Corporation member Herbert S. “Pug” Winokur ’64-’65 receives a subpoena from the Senate’s Permanent Subcommittee on Investigations for his connection with Enron’s collapse. He was then the chair of Enron’s finance committee...
Winokur announces he will resign from the Harvard Corporation at the end of June because he feels the Enron scandal is diverting attention from Summers’ agenda for Harvard and from the work of the Corporation and the University...