Word: enronizing
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Dates: during 2000-2009
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...dodging "corporations who move their headquarters to Bermuda and their jobs to China." But the Boston Globe reported last month that as Governor, Dean expanded a complicated tax shelter for captive insurance--in which companies set up specialized subsidiaries that provide them with below-market insurance coverage. Enron was among 500 companies to take advantage of it, and though the Clinton Administration tried to eliminate the break, Dean publicly declared his intention to "overtake Bermuda" as the world's biggest center for captive-insurance subsidiaries...
...totals €7 billion and may turn out to be far larger. Seven other executives were arrested last week, and Tanzi's son Stefano was questioned by prosecutors. The size of the alleged fraud could make Parmalat the biggest corporate scandal ever in Europe, easily on a par with Enron or WorldCom in the U.S. Parmalat filed for bankruptcy on Christmas Eve, and corporate-turnaround expert Enrico Bondi is trying to salvage what he can of the firm, which has 36,000 employees in 30 countries and top-selling brands including Parmalat uht milk and Archway cookies. On Friday, dozens...
...firm Donaldson, Lufkin & Jenrette. Blackstone is a powerhouse, with $14 billion raised for private-equity investment, including a recent move into the pub division of British beermaker Scottish & Newcastle. It has also raised $4 billion for real estate investment and claims a top-tier restructuring advisory group that counts Enron and Xerox among its clients. As Blackstone tries to achieve its next goals--expanding in Europe, beefing up its mergers-and-acquisitions practice and adding new businesses--it will need the guiding hand of a manager like James. Some believe that James, whose average-guy nickname, Tony, fits his amiable...
When he walks into a room, Rex Tillerson radiates competence and stability. In a world grown weary of the shenanigans of energy companies like Enron, the oilman commands respect--and earns it--by pumping twice as much oil out of the ground as Kuwait does. As ExxonMobil's senior vice president for exploration and production, he was responsible for 80% of the $11 billion profit generated last year by the world's largest private oil company. The challenge: Can Tillerson, 51, ride that success to become...
...stock funds in Europe - with an estimated $40 billion under management - which only invest in companies they consider to be socially responsible. But there's also a far larger universe of mainstream institutional investors in both the U.S. and Europe who have started to look at corporate behavior post-Enron as part of their overall performance reviews. Total is playing to this crowd. "Investors want the best possible investment. Even if ethics is not their cup of tea, they consider companies that take into account good ethical principles to be well managed," says Jean-Pierre Cordier, the senior Total executive...