Word: managerized
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Fastow sat at the crossroads of Enron's duplicity, and Richard Buy, Enron's chief risk manager, found himself increasingly at odds with Fastow as the pressure to do deals mounted. "Rick's group and the dealmakers were constantly in conflict," says a former finance executive. In the past couple...
No wonder Michael Shanahan, chairman of Capital Research & Management Co., the nation's third largest mutual-fund manager, thinks of dividends as a defense mechanism. "Dividends act as a check on corporate hubris," he explains. "Giving some money back to shareholders gives the shareholders the ability to decide what to...
Complications can arise if one or both of the former lovers are married. Debbie Wells was happily married with two kids when Bill Wade, her fiance at age 18, called. He had been in the service, her parents disapproved, and they broke up. Now, 24 years later, a married veterinary...
Emily Findlay Brown, 66, and Jerry Willingham, 68, met while roller-skating in Alexandria, Va., at 16 and 18. "We went together one year," recalls Brown, a psychotherapist, "and then he dumped me." "She was going to go to Stanford," explains Willingham, a retired manager of airline mechanics, "and I...
So Japanese are now shopping at second-hand stores; residents in upper-class districts comb through their neighbors' trash for used furniture. Potential entrepreneurs, the Akio Moritas of the future, are doomed to remain dreamers: the banking system is so swamped with the remembrance of debts past it doesn't...