Word: enronizing
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...AGGRESSIVE ACCOUNTING] [Thoroughly rotten] Enron used hundreds of off-balance-sheet partnerships to hide billions in debt. The firm also sold dubious assets to these partnerships at jacked-up prices to create bogus income...
...INSIDER STOCK SELLING] [Strong stench] Lay unloaded more than $100 million of Enron stock in the past three years. Last year alone, he sold $25.7 million in company stock as the share price fell from $80 to less than...
...AVOIDANCE] [Thoroughly rotten] Enron paid no income taxes in four of the past five years. It reportedly saved $1 billion in taxes by using a series of loans and transfers with some of its 600 subsidiaries in the Cayman Islands...
...BOARD INDEPENDENCE] [Strong stench] Enron made generous payments to its directors and institutions linked to them. A board member, who resigned in May 2001, made nearly $200,000 a year consulting for Enron...
...CONTRITION] [Thoroughly rotten] Before pleading the Fifth, Lay told Congress about his "profound sadness about what has happened to Enron." He sent his tearful wife Linda to tell viewers on NBC that "we've lost everything...