Word: xeroxers
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...formerly WorldCom), which recently announced that the pretax income it reported for 2000 and 2001 was just a tad off--$74.4 billion less than it had said, after writedowns and adjustments. Outside auditors have signed off on bogus earnings reports and balance sheets at companies from Rite Aid to Xerox. In some cases, auditors dealt with corporate brass intent on concealing thievery; WorldCom's ex-CFO, Scott Sullivan, recently pleaded guilty to fraud and conspiracy charges, for instance. In other cases, auditors simply lacked spine: again and again, they failed to police the books aggressively for fear of losing...
...when Ursula Burns was executive assistant to Xerox's then CEO, Paul Allaire, she sat in on a high-level meeting about changing an employee-benefits policy and after a while raised her hand. "I don't get it," she remembers saying, "but from what I could get, I don't like it." The reaction to her unsolicited feedback--the executives realized they needed to stop using corporatespeak if they wanted employees to embrace the new policy--had a profound effect on Burns, who recalls thinking, Hey, I didn't get slapped down. Speaking up has helped Burns, who grew...
Burns' division is responsible for products that bring in more than 80% of Xerox's sales, including high-end publishing systems that helped the ailing copier-and-printer company return to profitability last year after major restructuring and a $10 million fine for accounting fraud. Burns, 45, says climbing the corporate ladder has also taught her to shut up a bit more. "If you give people a chance to speak, they probably will," she says. As for nabbing Xerox's top job? "The responsibilities I have today will keep me busy and keep me learning for quite a while...
...Lufkin & Jenrette. Blackstone is a powerhouse, with $14 billion raised for private-equity investment, including a recent move into the pub division of British beermaker Scottish & Newcastle. It has also raised $4 billion for real estate investment and claims a top-tier restructuring advisory group that counts Enron and Xerox among its clients. As Blackstone tries to achieve its next goals--expanding in Europe, beefing up its mergers-and-acquisitions practice and adding new businesses--it will need the guiding hand of a manager like James. Some believe that James, whose average-guy nickname, Tony, fits his amiable demeanor...
...desire: to experience the ultimate techno-geek dream. As the hundreds of thousands of attendees of CeBit America 2003 entered the massive glass and steel lobby of the Jacob Javits Conference Center on Manhattan’s West Side, they were accosted by signs and logos of companies from Xerox to Siemens and prompted by convention staff to register at the appropriate bank of LCD panel kiosks...