Word: houstons
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...shareholders, who ultimately lost their life savings." And it's not just the Waxmans of the world that Bush has to worry about. Louisiana Republican Billy Tauzin, chairman of the House Energy and Commerce Committee, the first to announce a formal congressional probe, has already sent investigators to the Houston offices of both Enron and its accounting firm, Arthur Andersen...
...forces have seen relatively little action during that time, while the "not quite professional" Afghan troops have cleared out the Taliban and al-Qaeda. Such insensitivity to others and a tendency to self-aggrandizement often lead to hatred of the U.S. in other parts of the world. FRANK BENITEZ Houston...
...pushing the envelope on accounting rules that aren't very clear anyway. Last week, two days after Time reported that Andersen ordered the destruction of documents in October, the company sent ceo Joe Berardino out in public to strike a contrite tone. Andersen placed three auditors in its Houston office on leave and took out full-page ads in the newspapers promising to "deal with these issues, candidly and directly ... Without question, this is the most difficult and challenging episode in our firm's history...
...abruptly fired David Duncan, who managed the Enron account in Houston, saying he had "without any consultation with others in the firm" organized the destruction of documents as Enron's losses mounted in October. Seeking to put as much distance as possible between the home office and a wayward Houston branch, the company pointed out that all shredding had ceased once the sec issued a subpoena in the Enron matter. As a former Andersen partner in Chicago told Time, "The issue of document deletion is entirely dependent on when the organization was aware that there might be a liability issue...
...worse--much worse--for Andersen a few days later, when it was revealed that officials at the company's headquarters in Chicago had discussed the questionable Enron accounting very early in the game--in a conference call last Feb. 5. Enron was no longer a problem that Andersen's Houston office had kept to itself. Nor were the top Andersen officials worrying about the actions of some low-level, rogue Enron trader back on Feb. 5. What concerned the auditors that morning was how to account for losses piling up in an off-the-books partnership between the company...