Word: oversights
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...most we can say is he and other members of Enron’s board essentially failed in their duty of oversight. That is obviously an embarrassment, but it doesn’t suggest any activity that is shady,” Hayes said...
...problem for directors,” Hayes said. “They are likely to be sued by any number of parties with grievances, and the other thing that is troublesome is the reputational cost of this debacle, because the board’s role is to provide comprehensive oversight of [Enron’s] operations...
...proper use of Harvard’s intellectual prowess and vast financial resources would be to concentrate on developing curricula, strategies and oversight techniques to use in training low-skilled and illiterate workers. The first people to use these curricula-in-development would be the participants in Harvard’s Bridge to Learning Program. After that, Harvard could make them available for municipalities, other universities and even private businesses to use to train their own low-skilled employees...
...more than a decade, Enron spent lavishly to untether itself from government oversight. But it became so notorious that it gave up any chance of a political lifeline. Last fall, when the company was begging for rescue, Bush Administration officials say it was unanimously rebuffed. Enron had hired the best lobbyists--powerhouses such as Republican chairman Marc Racicot and Bush adviser Ed Gillespie, who can usually make things happen--but they too are distancing themselves, saying they were kept in the dark about the depth of the company's problems. For the first time, what Enron needs is more than...
...there's only one witness capable of putting butts in congressional seats - David Duncan, the fired lead Enron auditor who led the shredding at Arthur Andersen, did appear Thursday under subpoena in front of Greenwood's oversight gang. But Duncan, with all Andersen's fingers pointed squarely at him, took the Fifth and will hold out until he gets an immunity deal. So as the House got under way Thursday, fed live to the cable news networks, it was Andersen partner C.E. Andrews, and in-house lawyer Nancy Temple splitting hairs about when Justice called and the shredding stopped...