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

To: Baldur Fjvlnisson who wrote (3080)	2/26/2002 5:49:34 AM
From: Baldur Fjvlnisson	Read Replies (1) \| Respond to of 5185

Bush mulls tougher rules for CEOs Penalties could be brought for carelessness, not just fraud By Jacob M. Schlesinger THE WALL STREET JOURNAL Feb. 25 — The Bush administration is exploring ways to make it easier for the government to punish corporate officers and directors accused of misleading shareholders in the post-Enron world, weighing new penalties for mere carelessness, even if an executive doesn’t commit outright fraud. msnbc.com

To: Baldur Fjvlnisson who wrote (3080)	3/2/2002 8:29:29 AM
From: Mephisto	Read Replies (1) \| Respond to of 5185

Andersen Offers Enron Settlement, Reports Say Thursday February 28 12:42 AM ET dailynews.yahoo.com WASHINGTON (Reuters) - Embattled auditor Andersen is offering a total payment of $750 million dollars to settle lawsuits stemming from its association with the fallen Enron Corp, newspapers reported Thursday. The Washington Post and USA Today said that under the settlement, $250 million would come from an insurance company co-owned by Andersen and its global affiliates with the remaining $500 million to be paid out in $100 million increments over the next five years. An Andersen spokesman had no immediate comment on the reports. Andersen has come under fire for its auditing role at Enron amid questions about the energy company's accounting for certain partnerships that were off its balance sheets. USA Today said Andersen's New York law firm, Davis Polk & Wardwell, outlined the proposal Wednesday in a meeting with the Securities and Exchange Commission (news - web sites). The newspapers, citing sources close to the talks, said the settlement would cover all Enron-related legal actions threatening the accounting firm, including a federal class-action lawsuit filed by investors, a lawsuit on behalf of 401 (k) retirees and any SEC enforcement action. The Washington Post cited a source close to the firm as saying Andersen was also seeking to persuade the U.S. Justice Department (news - web sites) not to indict the firm. The paper cited a source close to the firm as saying Andersen was anxious to get the Enron litigation settled, within two weeks, before corporations send out annual ballots asking shareholders to ratify their choice of independent auditors. Both newspapers said SEC and Andersen representatives declined comment on the settlement efforts. Andersen has been saying that under the Enron cloud its very survival was threatened because it could have difficulty holding on to corporate clients and top talent. When Enron collapsed, Andersen's professional judgements became the subject of federal, civil and criminal investigations. dailynews.yahoo.com

To: Baldur Fjvlnisson who wrote (3080)	3/2/2002 8:34:11 AM
From: Mephisto	Read Replies (2) \| Respond to of 5185

<'A DUTY TO TELL THE TRUTH' "During the question-and-answer period, O'Neill elaborated slightly, saying that corporate leaders have a responsibility to those whose money they use for their business endeavors." ``They have a duty to tell the truth and tell all of the truth,'' he said. ``It's not OK to live by omission.'' >>>>>>>>>>>>>>>>>>>>>>>>> (LOL) Baldur, Paul. H. O'Neill should put those words on a gold plaque and present it to his boss, W Bush!!!!