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Sava
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GO GO GO!
Mar 2001
time: 23:24
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http://ap.tbo.com/ap/breaking/MGAE2QBRS9D.html
quote:
Dec 16, 2002
6-Year-Old Tape From Enron Company Party Has Parallels to Scandal; Exec Joked About Accounting
The Associated Press
HOUSTON (AP) - Five years before Enron collapsed in a big accounting scandal, an executive joked at a party about making "a kazillion dollars" through something he humorously dubbed "hypothetical future value accounting," the Houston Chronicle reported Monday.
Videotaped jokes by some former Enron executives at a January 1997 party bear ironic parallels to events that helped bring down the energy conglomerate, the newspaper said.
The videotape, of a going-away party for former Enron President Rich Kinder, features nearly half an hour of absurd skits, songs and testimonials by executives and prominent citizens - including President Bush, the newspaper reported.
Enron, which two years ago ranked No. 7 on the Fortune 500, declared bankruptcy on Dec. 2, 2001, haunted by shady accounting, hidden debt and inflated profits. Stock that had traded at $90 in August 2000 plummeted to pennies. Thousands of people were laid off.
The Chronicle did not identify the source of the videotape.
At the party, then-Texas Gov. George W. Bush pleaded with Kinder: "Don't leave Texas. You're too good a man." And his father, former President Bush, told Kinder, "You have been fantastic to the Bush family. I don't think anybody did more than you did to support George."
In one skit, former administrative executive Peggy Menchaca played the part of Kinder receiving a budget report from then-President Jeff Skilling, who played himself.
When the pretend Kinder expressed doubt that Skilling could pull off 600 percent revenue growth for the coming year, Skilling described how it could be done.
"We're going to move from mark-to-market accounting to something I call HFV, or hypothetical future value accounting," Skilling joked as he read from a script. "If we do that, we can add a kazillion dollars to the bottom line."
Skilling abruptly resigned from Enron in August 2001 before news of its troubles surfaced, and has professed ignorance about much of what went on under his watch.
Three Enron workers have pleaded guilty to charges ranging from fraud to false tax returns, and former chief financial officer Andrew Fastow has been indicted on 78 charges.
On the tape, Richard Causey, the former chief accounting officer, referred jokingly to a practice that is frowned upon by securities regulators.
"I've been on the job for a week managing earnings, and it's easier than I thought it would be," Causey said. "I can't even count fast enough with the earnings rolling in."
AP-ES-12-16-02 1341EST
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I would like to ask Bush if it's reasonable to follow his 'guilt by association' assertion that he made during the whole "terrorist speech".
"If you harbor a corporate criminal... if you associate with a corporate criminal... if you feed a corporate criminal..."
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JimmyCracksCorn
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Macedonia - Sovereign country north of Greece.
Dec 2002
time: 05:24
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quote:
Originally posted by Sava
It's more than a company cheating on its taxes Mr. DL... a lot of hardworking people had their life-savings stolen from them. And the principality of "guilt-by-association" is the same either way. Go troll elsewhere. |
I was simplifying the situation to emphasize how it is in no way related to the war on terrorism.
And how is the principality of "guilt by association" as you put it the same either way?
And notice, no one is interested in your left wing communist rhetoric... you might have guessed seeing as I'm the only one to post in this thread besides you thus far. All you do is complain and never offer anything more than self serving unsubstantiated rubbish.
And good call on the DL thing... anyone who disagrees with you must, obviously, be a DL.
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JimmyCracksCorn
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Macedonia - Sovereign country north of Greece.
Dec 2002
time: 05:24
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quote:
Originally posted by Sava
When all of a sudden a new member appears and is blatantly attacking me in multiple forums and obviously has past knowledge of my political views, yeah, he's a DL. 
Anyways, if you had knew anything about me and my history of posting you'd know I'm not a commie. And I'm curious as to how posting an article about an incident involving Enron like this is self-serving?
Where's the left-wing rhetoric as well? I always thought that getting rid of corporate crime was something that concerned both sides. Oh well, I should probably quit wasting my time with you. I bet you're one of those people that yells at the newspaper political cartoons that mock Bush.  |
Well, if you had read my first post, I said clearly that I am a long time lurker (since before you came here) and a first time poster... so even though I'm new to posting, I know very well the kind of incessant crap you post.
And as for being self serving... I wish I knew how it was, but you obviously find some kind of personal worth in posting stuff like this in every concievable thread you can get your little head to come up with. Otherwise, why would you post it?
quote:
I bet you're one of those people that yells at the newspaper political cartoons that mock Bush |
Which means what exactly? Anyone that ever supports what the government does is an idiot? Which implies that anyone who always disagrees always holds the intellectual highground? See, thats mindless.
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27-12-2002 22:05
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