Word: enronizing
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...best, then, forensics is an uncertain business, the onion-peeling exercise of investigating a crime using everything from shoe-leather detective work to the forensic accounting applied to Enron-type cases. Crimes of passion or violence, however, require a whole different set of tools, and it's here that much of the new science is found...
...attacking, among other things, Gekas' support for nafta. Democrats, having some fun with Gekas' 1998 sponsorship of a measure allowing bankrupt property owners in five states, including Texas, to shield the full value of their homes from creditors, produced a flyer that features a shot of former Enron ceoKen Lay, who owns a multimillion-dollar Houston penthouse...
...back on Europe last week, withdrawing a $700 million lifeline and signaling that it may sell the division, which has over 5.7 million customers. But who would want it? Firms in Germany, France and the U.K. have serious energy gluts, a relic of frenzied plant building during the heady Enron days. In Britain, where supply now exceeds peak demand by 25-30%, power prices have plunged 40% in the last 18 months and generators routinely spend $63 to produce a unit of energy that sells for $26. One potential buyer for TXU Europe is Germany's E.On...
...astonishing episode," says Raymond Langendries, president of the commission. As America's business scandals resonate throughout Europe - triggering a slew of safeguards meant to improve corporate transparency and accountability - the unmistakable sound of tut-tutting can be heard across the Continent: many business leaders contend that Enron-style abuses simply couldn't happen on their turf. "Our situation is profoundly different from the American one," says Daniel Bouton, CEO of the French bank Société Generale and head of a corporate governance group set up by French business. "We already have the supervision here that is now being...
...community supervision. Just over six months ago, Herbert S. “Pug” Winokur resigned from the Harvard Corporation—the self-selecting secretive seven-member body with ultimate say over all of Harvard’s actions—because of his close ties to Enron. At the same time as he was chairing Enron’s finance committee as it suspended ethical standard after ethical standard, he was, ironically, also chairing Harvard’s Committee on Shareholder Responsibility. Sadly enough, Winokur could have kept chairing that committee for years longer if the Enron...