Word: enronizing
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Enron’s bankruptcy last December was the largest corporate collapse in history. Thousands of employees of what was once America’s seventh largest company lost not only their annual income, but also a substantial amount of their retirement savings that was invested in Enron stock. Enron’s implosion raises questions about its business practices, about those of its auditor and about Enron’s cozy relationship with dozens of politicians. In addition, the presence of Harvard Corporation member Herbert S. “Pug” Winokur Jr. on Enron?...
...Enron collapsed when the labyrinthine network of subsidiaries and partnerships that it used to hide its losses and inflate profit reports unraveled. Though these practices are not unheard of in the corporate world, Enron appears to have taken them to a whole new level, and eventually its hidden losses caught up with...
...that wasn't going to excuse him from tending to the fault line that is slowly creeping into Bush's approval ratings - Americans are beginning to turn their attention to the economy, to their retirements, to the newspaper stories about Enron, and beginning to wonder if Bush should do the same. How much was Bush going to try to allay fears on the purely domestic fronts, in an address whose primary purpose was to revivify them, in the name of vigilance, on the national- and homeland-security ones...
...economy, making a long transitional stop on all that he was doing on homeland security - he even slipped up once on the organizing "security" theme and said "economic stimulus" instead. But once he got to money matters, Bush touched all the bases and didn't even skimp on Enron (though the name was never mentioned). New safeguards for 401k and pension plans, stricter accounting standards, tougher disclosure laws, making sure CEOs were "held to the highest standard of conduct...
...several months after Sept. 11, Americans have felt ourselves pulling together. But the Enron scandal has shown us or perhaps reminded us that when money is involved, we are truly...