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Non-Tech : The ENRON Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Karen Lawrence who wrote (936)	1/21/2002 4:46:28 PM
From: jttmab	Read Replies (2) \| Respond to of 5185

Karen, Thanks. A well written piece. And even if the top people at Andersen had no involvement in the Enron affair, they must be held to account for their failure to keep a closer watch over and a tighter leash on their subordinates. At the very least, what does the Enron debacle say about the way the Andersen store is being run? I think most of the accounting/consultant houses are run in this manner. They set up separate and independent business units and are driven towards achieving revenue growth in any way they can. There is very little oversight beyond revenue growth and profit margins. Andersen could try to settle and then doggedly go it alone. It may seek sanctuary in Bankruptcy Court. Or it may attempt to merge all or some of its practices with other accounting firms. The CEO at Andersen has some very tough decisions to make. I think their best option is the last one, trying to sell off the business units to other consulting houses. But they'll have to make that decision immediately, while they still have the accounts to sell. Impressive how a "world class" accounting firm can turn to a pile of rubble in a just a few months. IMO, they deserve it. jttmab