Word: enronizing
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HIDING DEBT This is where Enron got into trouble. Yet hundreds of companies shift liabilities off their books without breaking any laws or accounting rules. Many, like Enron, use special-purpose entities (SPE) that, as long as the entities receive at least 3% of capital from outsiders, can be left off the consolidated books of a parent company...
...impossible to find anyone on Capitol Hill these days opposed to new protections for 401(k)s. No members of Congress want voters to think they don't care about Enron employees who watched their retirement savings disappear into a black hole of creative accounting. Talking of how his mother-in-law lost $8,000 in Enron stock, President Bush put together a Cabinet team to study the issue. Senators Barbara Boxer and Jon Corzine are pushing a bill that would limit the amount of an employer's stock in its 401(k) plan and ease restrictions on how soon...
...Enron, which insured future gas deliveries with surety bonds, left J.P. Morgan Chase the task of claiming $2.5 billion from insurers that are fighting the bank in court...
There are plenty of management shortcomings to blame for K Mart's bankruptcy. But the discount chain got a good shove from the Sept. 11 attacks--and from Enron. Here...
...Karl Rove did land an Enron consulting job for Ralph Reed, one thing is certain: Reed didn't really need his help. Reed's choirboy looks notwithstanding, he was no neophyte trying to get into the business. By the time he stepped down as executive director of the Christian Coalition in April 1997, Reed, now 40, was considered such a shrewd political operator and grass-roots organizer that any number of FORTUNE 500 firms were knocking on his door...