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Dates: during 2000-2009
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...seemed unlikely that anything so complex could be widespread. But with WorldCom, as House Financial Services Committee chairman Mike Oxley, an Ohio Republican, says, it looks like "good old-fashioned fraud." Oxley's committee subpoenaed Sidgmore, Sullivan, Ebbers and Jack Grubman, telecom analyst for the Salomon Smith Barney unit of Citigroup, to a July 8 hearing. Not to be outdone, House Energy and Commerce Committee chairman Billy Tauzin, a Louisiana Republican, announced his investigation and ordered that by July 11 WorldCom turn over all records relating to its internal audit and five years' worth of accounting-related documents...

Author: /time Magazine | Title: WorldCon | 7/8/2002 | See Source »

...taking two military helicopters on the voyage to ferry fuel and food to the stranded ship. An Argentine icebreaker was also heading from Buenos Aires to help. MALAYSIA In or Out? In a bizarre political drama, Prime Minister Mahathir Mohamad said he was quitting all his posts in the United Malays National Organisation party and the ruling National Front coalition. An hour later, officials said he had changed his mind after protests from other senior politicians. Opponents labelled Mahathir's announcement, made live on national TV from the annual UMNO conference, a "desperate attempt to fish sympathy and votes." CHINA...

Author: /time Magazine | Title: World Watch | 6/23/2002 | See Source »

Israeli security officials seem confident, however, that the curtain will serve their purposes. "With this fence, we'll be able to stop 100% of terrorist infiltrations," asserts Brigadier General Israel Yitzchak, who heads the Border Police unit responsible for patrolling the seam line between Israel and the West Bank. A fence constructed around the entire Gaza Strip in 1994 has proved valuable. According to Avi Dichter, head of the Shin Bet, Israel's domestic-security agency, not one suicide bomber has entered Israel from the Gaza Strip since the current uprising began. The new barrier, at least initially...

Author: /time Magazine | Title: Fencing Off Terrorists | 6/17/2002 | See Source »

...nothing like the movies - no guns, no sirens, no man on a megaphone telling Jon Johansen, 16, to come out with his hands up. "It was very nice and quiet," Johansen says, recalling the day when three officers - two from ?kokrim, Norway's economic-crime investigation unit, and one local policeman - visited his house in Steinsholt, a small town about an hour and a half southwest of Oslo. They went into his basement office and confiscated two computers, some data CDs, a cell phone and its charger. What had Johansen done? He'd just watched some movies. Later this year...

Author: /time Magazine | Title: Enemy At The Gates? | 6/16/2002 | See Source »

...acts like Britney Spears, exercised a "put" option that forced Bertelsmann to buy. Jacking Up Fiat Signaling major restructuring ahead, Fiat CEO Paolo Cantarella resigned. He was replaced by Paolo Fresco, who learned his management style under Jack Welch at General Electric. No Trade Is An Island Instinet, a unit of British media group Reuters, will buy rival electronic-trading firm Island for $508 million in stock. The deal combines NASDAQ's two biggest rivals. French Attack Shares in MobilCom fell 46% to ?7.25 when France Telecom said it was severing relations with the German phone operator for refusing...

Author: /time Magazine | Title: The Next New Thing? The Old Economy | 6/16/2002 | See Source »

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