Word: enronizing
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Dates: during 2000-2009
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Tyco, of course, is only one of many corporations--Enron, Global Crossing, Adelphia, Dynegy--that have recently been tainted by scandal, visibly damaging the confidence of investors and weighing on the stock market. "People have real fears and concerns about the integrity of the marketplace," says Patrick McGurn, vice president of Institutional Shareholder Services, a firm that advises big investors like pension funds...
After looking for accounting irregularities, the Securities and Exchange Commission gave Tyco a clean bill of health two years ago. But in the wake of the Enron scandal, the company's complex books--filled with footnotes about thousands of offshore subsidiaries--sent a lot of shareholders to the exits. In February, company filings revealed that Kozlowski and his top deputy, chief financial officer Mark Swartz, had between them sold more than $500 million in stock back to Tyco since 1999, even as they publicly declared that they rarely, if ever, unloaded their shares. Around the same time, Tyco disclosed that...
...Byzantine world of the criminals, focusing on D'Angelo Barksdale (Larry Gilliard Jr.), a midlevel captain who wants to rise in his organization but questions its pointless violence. The two men are enemies, yet both, says Simon, are "middle managers ... in a world where everybody's working for Enron. Whatever you commit to as an institution bigger than yourself, in the modern world, it will...
...daring and timely one. We responded to 9/11 with a national narrative of teamwork: unite behind our institutions, and let's roll. (Waco? Diallo? Old news.) The rhetoric of good and evil was ascendant; anything in between smacked of moral equivalence. And yet the news since then has been Enron, the FBI, the church: institutions failing their charges...
...Winokur announces he will resign from the Harvard Corporation at the end of June. As a result of the Enron scandal Winokur, in a letter to Summers, says he feels the scandal is diverting attention from Summers’ agenda for Harvard and from the work of the Corporation and University...