Word: ernsting
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Even as S&Ls were teetering on the brink of bankruptcy, their financial health was being certified by accounting firms. As a result, one company is now threatened with loss of its license in California. The state board of accountancy has charged Ernst & Young with negligence in auditing Charles Keating's Lincoln Savings and Loan, whose 1989 collapse could cost taxpayers $2 billion...
...board contends that Arthur Young, which later merged with Ernst & Whinney, improperly allowed the thrift to show a pretax profit in 1987 by violating generally accepted accounting principles. The firm, which severed its ties to Lincoln in 1988, denies this. Possible penalties include loss or suspension of license, or probation. "Audit firms are under pressure to please the client," says deputy attorney general Michael Granen. "They've got to learn to just...
...fork clatters to the floor when Ernst Untzinger clumsily tries to touch the hand of the overly handsome waiter Luke, a graduate student who may be having affairs with both Ernst and Ernst's wife. Luke hires himself out for parties so that he can supply guest lists to a ring of thieves who prefer to pull off their heists when no one is home. Hilda Damien, the self-made millionaire whose healthy glow gives her the look of "a mild sunset," is unavoidably detained and never shows up for dessert. About the time the creme brulee is served, Hilda...
...have gone into their subject with vast scholarly elan, mining arcana from the areas where art and life, under the impulse of a modernism striving to refresh itself, are layered. If you want to know what was the catalog model of Marcel Duchamp's urinal, which nursery book Max Ernst got a particular collage element from, or which frame panels from 1962 war comics drawn by Russ Heath were conflated by Roy Lichtenstein to produce Okay, Hot-Shot, 1963, you need look no further...
Ruge, whose father was killed in the war, studied history and political science, volunteered long enough for the army to get his parachute wings and then turned to journalism. Karl-Ernst Freitag and Artwin Priebisch studied marine engineering, spent a couple of summers sailing the high seas, only to drift into other endeavors: teaching for Freitag, business for Priebisch. Harm Smidt leaned toward the law but turned to the sciences and engineering and wound up a partner in a firm dealing with environmental-impact studies...