SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: Mr. Palau who wrote (270828)7/7/2002 10:52:32 AM
From: Arthur Radley  Respond to of 769670
 
The Enron board, the Enron Executives and Shrub.....
all a bunch of crooks and to think, Shrub is going to give a speech on Tuesday to "slap" their hands:

This is what the Enron board allowed:

According to the report, evidence collected by the Senate panel showed:

¶That the board had warnings that the company's accounting was very risky. In February 1999, for example, the panel found that the board's audit committee was told by auditors from Arthur Andersen that Enron's accounting methods were "at the edge" and "pushing the limits." Also, in May 2000, the board's finance committee was told that partnerships headed by the company's chief financial officer, who at the time was Andrew S. Fastow, had produced a "remarkable" $2 billion in "funds flow" for Enron in just six months, yet no director asked how this had been accomplished.

¶That the board, "with little debate," granted Mr. Fastow a waiver allowing his partnerships to do business with the company in a manner that ultimately enriched him but helped lead to Enron's collapse. Had the board simply reviewed the partnership documents — one director even received them in the mail as an investment pitch — they would have noticed that two other senior Enron finance executives, Ben F. Glisan Jr. and Michael J. Kopper, eventually joined Mr. Fastow in the partnerships, though neither man obtained the required waiver.

¶That the board "knowingly allowed Enron to move at least $27 billion or almost 50 percent of its assets off balance sheet." One "accounting gimmick" used to artificially bolster Enron's financial statements was the creation of partnerships known as Raptors, which directors knew carried huge risks for the company. Among other things, a chart shown to the board's finance committee in April 2001 outlined how Enron could be forced to issue tens of millions of new shares, if its stock price declined, because of these transactions.

¶That the board allowed senior executives to enrich themselves improperly. For example, the report cited how the former chairman, Kenneth L. Lay, effectively sold $77 million in company stock by "abusing" a line of credit, allowing him to delay the disclosures normally required for such sales



To: Mr. Palau who wrote (270828)7/8/2002 2:47:52 AM
From: greenspirit  Respond to of 769670
 
Remembering Ted Williams
George Will July 8, 2002
townhall.com

WASHINGTON--There is no joy in Red Sox nation, aka New England, or in any heart where baseball matters. When Ted Williams arrived in Boston at age 20 in 1939, a spindly 6-foot-4, the Splendid Splinter said, ``All I want out of life is that when I walk down the street folks will say, 'There goes the greatest hitter that ever lived.''' When he died Friday at age 83, many people did say that, and no one said they were foolish.

When, as a 12-year-old in San Diego in 1930, he heard that the Giants' Bill Terry had batted .401, ``I got my little bat, ran out to our little back yard, and began to swing.'' His swing became baseball's gold standard.

In 1939, a golden moment on the eve of dark years, Bob Feller, Williams and Joe DiMaggio were 20, 21 and 24 respectively. ``I can't stand it, I'm so good,'' Williams used to exclaim in his youthful ebullience.

In 1941, when DiMaggio mesmerized the nation with his still unmatched 56-game hitting streak, Williams did what has not been done in six decades since--batted over .400. Batting .3995 going into the season's last day, a doubleheader in Philadelphia against the Athletics, he went 6-for-8, finishing at .406.

There was no sacrifice fly rule in effect that year (today a batter is not charged with an at-bat if he hits a fly that scores a runner). Had there been, his average would have been about 10 points higher. Biographer Ed Linn says that had Williams not lost the four and a half years he spent as an aviator in the Second World War and Korea, he probably would rank first or second in runs, runs batted in, total bases, extra-base hits and perhaps home runs.

An alloy of innocence and arrogance, young Williams came to Boston when it had four morning and four evening local newspapers engaged in perpetual circulation wars. He became grist for their mills, and his wars with the sportswriters brought out the worst in him, and cost him. He won two Most Valuable Player Awards and finished second four times. Several of those times he would have won had he not had such poisonous relations with the voting press. A writer said that when Williams retired, Boston knew how Britain felt when it lost India--diminished, but relieved. He is one of only two players (the other was Rogers Hornsby) to win a triple crown (highest batting average, most home runs and runs batted in) twice, and he would have won a third if the Tigers' George Kell had not beaten him for the 1949 batting title .3429 to .34275. If the sacrifice fly rule had been in effect that year, Williams would have beaten Kell, who would have had one fewer sacrifice fly. Williams won six batting titles, including one hitting .388 in 1957, when his 38-year-old legs surely cost him five infield hits, enough to put him over .400 again.

He used a postal scale to check that humidity had not added an ounce to the weight of his bats. Challenged to find from among six bats the one that was half an ounce heavier than the others, he quickly did. He once returned to the maker a batch of his Louisville Sluggers because he sensed that the handles were not quite right. The handles were off by five-thousandths of an inch.

Like many great players, he remembered, obsessively. That grand slam home run in Minneapolis before coming to the big leagues? ``Fifth inning, three-and-two count, low fastball.''

He hit a home run in his last time at bat--twice. He assumed his career was over--and he homered--when the Marine Corps called him to Korea (where No. 9 flew an F-9 jet as wingman for a squadron commander named John Glenn). And on Sept. 26, 1960, in the final at-bat of his final game, in Boston's gray autumnal gloom, he homered. Among the only 10,454 fans was John Updike, who wrote ``Hub Fans Bids Kid Adieu'': ``For me, Williams is the classic ballplayer of the game on a hot August weekday before a small crowd, when the only thing at stake is the tissue-thin difference between a thing done well and a thing done ill.''

Never, not even after that farewell home run, did Williams tip his hat to the cheering fans. ``Gods,'' wrote Updike, ``do not answer letters."

Late in life Williams said that often he fell asleep hearing in his head three songs--``The Star-Spangled Banner,'' ``The Marines' Hymn'' and ``Take Me Out to the Ball Game.'' An American life.