Word: enronizing
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...culprits of Enron and Tyco, WorldCom and Wall Street are now being described as the largest gang of upper-income banditti since the Ponzi, Insull, bank and bucket shop defendants of the early thirties. The recent peak-to-trough decline of nearly 75% in the tech-heavy Nasdaq also happens to represent the steepest decline in a major stock market index since the Dow Jones Industrial Average fell more than 80% between...
...cusp of change? Conceivably. Since 2000 the count of U.S. billionaires and millionaires has declined. Wealth momentum and hubris are slowing and possibly reversing. Enron et al may be crystallizing the beginning of a new popular suspicion of corporations. Debate, at least, is finally being joined...
When Arthur Andersen, the accounting giant, and Andersen Consulting went their separate ways last year, the smaller firm endured a lot of teasing for changing its name to Accenture--a handle suggested by someone in the Oslo office. But now that its creative work on Enron's books has turned Arthur Andersen into a global pariah, the consulting firm's name change looks like a stroke of genius. And it's being emulated. PricewaterhouseCoopers--whose accounting work for K Mart and Tyco has been criticized--is spinning off PricewaterhouseCoopers Consulting in August. And so eager is the new firm...
...Proposed maximum individual compensation for some 4,500 laid-off Enron employees, as determined in a preliminary agreement between Enron and labor lawyers...
...million Total amount Enron paid to 140 top executives last year, according to new legal filings by the company...