Word: tyco
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...Tyco's former CEO, Dennis Kozlowski, already charged with evading $1 million of sales tax, was indicted anew, accused of tampering with evidence. He allegedly lifted a shipping document from a file before turning it over to prosecutors in New York City. He pleaded not guilty to the latest charges...
...culprits of Enron and Tyco, WorldCom and Wall Street are now being described as the largest gang of upper-income banditti since the Ponzi, Insull, bank and bucket shop defendants of the early thirties. The recent peak-to-trough decline of nearly 75% in the tech-heavy Nasdaq also happens to represent the steepest decline in a major stock market index since the Dow Jones Industrial Average fell more than 80% between...
...someone in the Oslo office. But now that its creative work on Enron's books has turned Arthur Andersen into a global pariah, the consulting firm's name change looks like a stroke of genius. And it's being emulated. PricewaterhouseCoopers--whose accounting work for K Mart and Tyco has been criticized--is spinning off PricewaterhouseCoopers Consulting in August. And so eager is the new firm to separate from its parent that it has announced it will rename itself "Monday." Why Monday? CEO Greg Brenneman says it's a "real word, concise, recognizable, global...
...know? And when did she know it? These are hardly the most pressing questions to emerge from the collapse of yet another stock and the disgrace of one more CEO, this time at the once high-flying biotech firm ImClone. But after the scandals and meltdowns at Enron and Tyco and the self-serving stock recommendations at Merrill Lynch, the shamed corporate hero has become positively pedestrian. It takes a celebrity touch to hold our interest, and with ImClone we're getting the full weight of high society...
...borrowed billions. In each case, shareholders have been left holding the bag. So let's change the rules. Executives get paid well; let them go to the bank and put their home in hock like the rest of us. And end the practice by which executives at Enron and Tyco have sold stock back to the company, rather than on the open market, to avoid legally disclosing the sale for as long as a year--while exhorting others...