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Roughly two-thirds of the litigation stems from the epic savings and loan scandal. Accounting firms, along with lawyers and others, face thousands of lawsuits by investors and government regulators, including the Federal Deposit Insurance Corporation. Accountants' financial liability in S&L cases could exceed $9 billion, not counting compensatory damages. Last week Ernst & Young agreed to pay $63 million to settle claims that its negligence helped S&L honcho Charles Keating Jr. defraud some 23,000 investors in Lincoln Savings & Loan. The settlement came two weeks after the largest U.S. accounting firm, Arthur Andersen, paid $22 million for fraud...
Book bills that regularly exceed $300 have become as beloved a Harvard tradition as the Quantitive Reasoning Requirement. But some Harvard administrators and publishing experts are already hinting that next fall's book bills will lighten even the heaviest wallets...
...most ambitious attempt so far to cut urban air pollution. Under the plan, businesses will be issued shares in the region's overall emissions, and together they must reduce smog-forming hydrocarbons by 5.8% a year, nitrogen oxides by 8% and sulfur dioxide by 8.5%. Companies that exceed the reductions can sell emission "credits" to other firms. The market covers 2,800 businesses that account for one-fourth of the pollution in Los Angeles, Riverside, San Bernardino and Orange counties...
...will probably meet, and may exceed that goal," Aceti said. "I think most people see recycling as a good idea and want to participate...
...have met our targets in most, but not allareas," says FAS Assistant Dean for AcademicPlanning Joseph J. McCarthy, who co-authored theFAS section of the plan. "While the FAS wouldcertainly like to meet and exceed the goal of fullutilization, it appears unlikely that we will, bynext year, meet all of our present targets...