Many employees and former employees at Enron face meager retirements. Begin typing your search term above and press enter to search. Press ESC to cancel. Ben Davis July 12, Where is Andy Fastow now? What happened Cliff Baxter? What happened to Enron employees pensions?
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment. You should receive instructions for resetting your password. When you have reset your password, you can Sign In. Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards. Screen Name Selection. Only letters, numbers, periods and hyphens are allowed in screen names.
Please enter your email address so we can send you a link to reset your password. Your Comments. Sign In Sign Out. We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.
Subscriber Only. Tax avoidance: focus may move from companies to individuals. Surveillance tools like Pegasus should not be for sale. Inside Business. Latest Business. Airbus secures mega-order for narrow-body jets at Dubai Airshow Conglomerates are dead, long live conglomerates Taxpayers foot the bill for duplication of broadband services Will UK inflation hit the highest level in a decade? Sign In. Don't have an account? Fastow, once a poster child of corporate crime, delivers a professional, polished presentation for how one could technically follow the rules but end up doing unethical deals.
The former chief financial officer, 56, exploited loopholes and ended up in prison for six years. The topic: "Rules vs. Fastow does the right thing and admits that while he technically tried to follow the rules, he fell far short by never asking himself if he was doing the right thing.
But his speech is framed in such a way that he seems to rationalize his role by highlighting ways that so many others who did not do time are driven to push the limits — such as how companies juggle projected rates of return on pension funds and the latest financial flap at General Electric, including the latest news about an effort to improve optics around cash flow by tweaking GE's payroll system.
Since being released from prison in December , Fastow has been on the lecture circuit, doing dozens of speeches in a year.
He's spoken at community centers and college campuses, including Texas Christian University. He's even spoken before the Association of Certified Fraud Examiners. Not everyone wants to hear what Fastow has to say, unwilling to glorify one of the masterminds of the Enron fraud, which resulted in massive financial losses for the failed energy giant's workers who held Enron stock in their k plans and widespread financial pain in A few invited guests to Detroit's event declined to go.
Last fall, Fastow canceled his appearance at Sam Houston State University after five professors publicly objected to his appearance. He was invited by the accounting department and scheduled to speak on ethics to business students, according to a report in the student newspaper The Houstonian.
Sit and listen to financial fraudster Bernie Madoff over lunch? OK, maybe. Just as we're fascinated by wealth in this country, we can't seem to take our eyes off white-collar criminals. Fastow, whom Time magazine in referred to as a PowerPoint executive with number-crunching talent, offered a thoughtful review of how accounting rules aren't always black and white. His discussion was well received by many locally.
0コメント