Andersen's survival hinges on Enron fallout layoffs
Andersen LLP announces 7000 job cuts reducing the US workforce of 26000 by more than a quarter amid Enron scandal fallout. The move targets audit and admin staff at HQ and major offices, with leadership citing market realities. Cleveland, Houston, Chicago, Atlanta, Los Angeles, New York offices hit hardest. Chicago officials express concern for local economy.
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Arthur ‘Andersen LLP
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Grover Wray
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Enron Corp
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St. Charles
Ill
Richard Daley
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Andersen official to plead guilty in Enron shredding case
Arthur Andersen LP’s chief auditor for the Enron account in Houston, David B. Duncan, is expected to plead guilty to a single obstruction charge and cooperate with prosecutors. Duncan, fired after massive shredding was acknowledged, would enter the plea in U S District Court in Houston.
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Houston
David B. Duncan
Ashish Nanda
Washington
Arthur Andersen LP
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Giuffra
Associated Press
McCain Feingold eye new campaign finance legislation
Senators John McCain and Russ Feingold push to strengthen enforcement and close loopholes after a hard won campaign finance law. They plan to overhaul the Federal Election Commission amid debates over its makeup and independence.
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Russ Feingold
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D-Wis
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Obrien
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FEC
Nancy Ives
Re Fec
Democracy 21
Mitch McConnell
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