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Politics : PRESIDENT GEORGE W. BUSH
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To: TimF who wrote (253460)5/7/2002 6:22:13 PM
From: Mr. Whist  Read Replies (2) of 769670
 
I guess the key question, in Enron's case, is: Was the company (a) actually losing money, or (b)"losing money" on paper because of accounting sleight-of-hand?

My guess would be (b).

Re: "In the end the company fell apart because it was producing losses not profits." Enron was a pyramid scheme with the pointed top of the pyramid sticking in the ground. It collapsed under its own weight. I read with amusement this week on how the company plans to reorganize. After the California attorney general's office gets done with Enron in state court in Sacramento for bilking the taxpayers of California, there won't be anything left of Enron except for the big building in Houston and Kenny Boy's airplane that he used to shuttle GWB around the country.

Re: "A better example for your argument might be some profitable company which is avoiding taxes."

You're correct.
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