Word: enronize
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Dates: during 2000-2009
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...thought I was being a hero for Enron." ANDREW FASTOW, former Enron CFO testifying against former chief executives Jeffrey Skilling and Kenneth Lay, on why he took part in secretive transactions that inflated the company's earnings?and padded his own bank account...
Watching former Enron Chief Financial Officer Andrew Fastow in the Enron trial this week was, at times, like attending a business school seminar. On the witness stand, testifying for the prosecution against his former colleagues Ken Lay and Jeffrey Skilling, he spoke slowly and clearly, using easy-to-understand metaphors. When asked a question he often backtracked to give fuller, more detailed answers. His testimony was like a crash course in the financial shenanigans that led to Enron's collapse. One lawyer in the audience said listening to Fastow testify for one hour was like reading about the company...
...demands for yes or no answers to stark did-you-or-didn?t-you questions, such as "Isn?t it true you want to make sure Jeff Skilling is found guilty?" and "Isn?t it true that you don?t want to be blamed for what went wrong at Enron...
...market needs enough competitive players to make it work. So while Brussels might cheer consolidation in some sectors - cross-border banking, for example - in others, like utilities, it's more of a headache. Remember the deregulated U.S. market of the late '90s, when a handful of big utilities, Enron among them, were able to dominate, sending prices skyward? Kroes admitted last month that high industry concentration and feeble cross-border competition added up to "a rather gloomy picture." Consumer groups put that view more sharply. The specter of further consolidation among Europe's utilities "can only reinforce our worries regarding...
This week will see the beginning of the trial of former Enron boss Ken Lay, and, in all likelihood, the confirmation of Samuel Alito to be the newest associate justice of the Supreme Court. On Sunday, Americans will tune in to watch the Pittsburgh Steelers and Seattle Seahawks go head to head at the Super Bowl in Detroit-and Mick Jagger strut at the half-time show. But even the Rolling Stones won't be able to upstage the biggest news event of the week, when President Bush delivers his State of the Union address on Tuesday...