John Coffee
John Coffee
John R. Coffeewas an American planter and state militia general in Tennessee. He commanded troops under General Andrew Jackson during the Creek Warsand during the Battle of New Orleans in the War of 1812...
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Cendant was the unrecognized harbinger of financial disasters to come. It was the harbinger in the late 1990s of how the quest for higher stock prices led managers astray.
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There were no legal rules against spinning. The only question is one of ethics. And there, the question is this: Did Goldman see him as a future dispenser of future business? There's no way to know.
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A simple overhearing of information in an elevator, if that's what really happened, doesn't amount to a deceptive misappropriation.
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Enron in its simplest form was a stark and vivid lesson that a company could comply with generally accepted accounting principles and totally deceive investors at the same time.
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You have to show that he knowingly told a false statement, a statement that he did not believe to be true.
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This is not a populist demand for reduced compensation. This is a demand for more accountable compensation that in effect allows investors to relate pay to performance.
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This is not a classic setting where someone gets barred for conduct as a corporate officer. Everything Martha did was in her private capacity.
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Companies are resigned to the fact that Arthur Andersen is soon to be deceased.
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I would expect that both sides now are struggling to control the board. It may be that there are directors who were appointed by each side, but outside independent directors are not going to be loyal to someone if there is strong persuasive evidence that that person was involved in fraud.
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Causey has no defense. He's an accountant, and he was right there at ground zero.
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Business isn't necessarily committed to the same principles. Federalism cuts for or against them.
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One thing prosecutors can expect to get from Causey is testimony that he met with Ken Lay during that period and made him aware of how deep the plight was at Enron. By the time of Lay's return, Enron was almost like the Titanic after it hit the iceberg.
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NYSE will move from selling a single product to hosting a variety of products linked to its strong brand name.
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It's going to change the board from a prudential body and a restraining influence into a bunch of cheerleaders. It will give the board a strong incentive not to look too closely at the numbers. It puts directors on the same side as management.