Business Services Industry
Andersen could break for want of tough love.
Australasian Business Intelligence, March, 2002
Mar 23, 2002 (The Sydney Morning Herald
ABIX via COMTEX) -- Andersen should be indicted, according to the former chairman of the US Securities & Exchange Commission, Richard Breedon. Breedon has said Andersen did too little, too late in the collapse of Enron, failing to change staff, appoint a new chief executive officer, or a new chief auditor. He compared the situation with that of Salomon Brothers, which was involved in a similar scandal in 1991. However, on that occasion Warren Buffett promised the US Government that he would make major reforms in the company, and admitted liability. It survived through acquisition to become Salomon Smith Barney, a subsidiary of Citigroup. Originally published in "The New York Times".
ANDERSEN: ENRON CORPORATION:...
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