Word: harkens
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...questions about his own past. He had joked his way through a 30-minute prep session earlier in the day, as if to assure his aides, Not to worry; he had this stuff under control. But he did not. "In the corporate world," he declared when pressed about how Harken Energy had hidden losses while he was on its board, "sometimes things aren't exactly black and white when it comes to accounting procedures." It was a defense that only an Arthur Andersen executive could love. The President whose wartime rhetoric runs to all or nothing was making a case...
...once the questions began, Bush looked like a 5-year-old losing a battle with an ice-cream cone on a summer day. His sale of stock as a director of Harken Energy in 1990, a once scrutinized deal that had faded into obscurity, was now alive in a much less forgiving environment. Bush dumped $848,000 worth of Harken stock two months before the company announced a $23.2 million loss; he was 34 weeks late in filing a form the Securities and Exchange Commission required to record the sale. Old news, the President said, noting that the SEC investigated...
Some on Capitol Hill have questioned Bush’s own business history, however, including scrutiny of questionable accounting procedures of Harken Energy Corporation, on whose executive board Bush served in the early 1990s...
...something to settle the uncertainty," says one senior official. But before the White House could address the string of scandals that have sapped confidence in American business, it has had to answer old questions about the president's own run-ins with the corporate cops while a director of Harken Energy...
...apples and oranges," insists Communications Director Dan Bartlett comparing the accounting practices at WorldCom and Enron and those that led to a 1990 SEC investigation and restatement of Harken's earnings. The distinction, say administration officials, is not only that Harken's restatement was in millions, not billions, but also that the company was merely caught being aggressive, not fraudulent. Many corporate executives currently under the bright lights are saying a version of the same thing...