Word: enronizing
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...could still cull a comely quintet of nominees from the current gang of 15--including Enron: The Smartest Guys in the Room, Mad Hot Ballroom, Murderball, Rize and, of course, March of the Penguins. Perhaps Herzog can take solace in the fact that, as those penguins proved, persistence is everything...
...some extent, that public hostility is well deserved. The bankruptcies of Enron and WorldCom in the U.S. and Parmalat in Italy have focused attention on corporate sleaze on both sides of the Atlantic. Revelations about how Washington lobbyist Jack Abramoff allegedly bought influence in Congress have made a mockery of claims to clean government. The U.N. is struggling to recover from its own high-level corruption scandal relating to the oil-for-food program in prewar Iraq...
...name Enron may now be synonymous with lost jobs, ruined retirements and galling corporate fraud. But the company--whose former CEOs Kenneth Lay and Jeffrey Skilling go on trial in Houston next week--also left a legacy of bright ideas. Here are three we can (grudgingly) thank...
...LOWER ELECTRICITY BILLS Yes, Enron's market manipulation triggered California's rolling blackouts in 2000, but its unceasing push for deregulation of power markets made an impact. "The trading aspect of their business actually solved a problem," says Brian Hamilton, CEO of Sageworks, a research firm in Raleigh, N.C. Deregulation doesn't work unless traders manage the hour-to-hour gaps between supply and demand and keep those markets efficient. In states like Pennsylvania that have well-designed systems, retail prices have fallen as much as 30% since deregulation took effect...
What would he testify about? Causey was with Lay and Skilling at meetings in which Enron's mounting debt and losses were discussed. He can also connect the dots for the jury, explaining Fastow's complex hidden deals...