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RAIN 01/21: Andersen update Part 3



Due to the large number of stories about Arthur Andersen and the records shredding at Enron I have put them all together into several postings. There are 11 in this posting.


Houston Chronicle 01/17/02
Enron workers sell, sell, sell company stuff online
http://www.chron.com/cs/CDA/story.hts/special/enron/1215116

by Daniel J. Vargas
Newsflash: Enron is turning a profit.
On eBay, that is.
Former and current employees of the troubled Houston energy company are successfully selling company trinkets as collectibles and reminders of the largest bankruptcy in U.S. history.



Houston Chronicle 01/17/02
Andersen attorneys tell judge documents won't be destroyed
http://www.chron.com/cs/CDA/story.hts/metropolitan/1216527

by Jo Ann Zuniga
Attorneys for auditor Arthur Andersen reassured a Houston judge Thursday that it will destroy no more documents relating to Enron's financial collapse, the first such declaration in open court.
In a hearing before state District Judge Caroline Baker, attorney Rusty Hardin said he would not enter the statement as an official agreement, because he believes that federal courts have jurisdiction.



Contra Costa Times 01/17/02
Information sought on destroyed files
http://www.contracostatimes.com/biztech/stories_business/0calenron_20020116.htm

by Andrew LaMar
SACRAMENTO -- A state Senate committee wants to know whether documents destroyed by accountants working for Enron Corp. last fall contained information sought by legislators investigating California's electricity market.
The committee, led by state Sen. Joe Dunn, D-Santa Ana, is seeking depositions from Enron and its accounting firm, Arthur Andersen, to verify the contents of the documents.



CNN/Money 01/18/02
Houston, we have a problem
http://money.cnn.com/2002/01/18/companies/enron/

by Luisa Beltran
NEW YORK (CNN/Money) - Officials at Andersen's head office in Chicago were involved in frequent conversations with auditors in the Houston office and discussed the need to comply with audit and document retention policy in the Enron audit, a source familiar with the situation told CNN/Money.



Houston Chronicle 01/18/02
Ex-Andersen employees doubt Duncan acted alone
http://www.chron.com/cs/CDA/story.hts/business/1216564

by Mike Tolson
When the glare of publicity suddenly found him, David B. Duncan was cast as a rogue accountant, panicked into a shredding frenzy by the thought of investigators sifting through his auditing team's paperwork.



The Straits Times 01/19/02
Internal memos turn into collectors' items
http://straitstimes.asia1.com.sg/money/story/0,1870,97597,00.html?

by Ann Williams
ENRON Corp's shares are all but worthless - not so its company memorabilia, which are selling like hot cakes on eBay's Internet auction site.
The website had more than 600 Enron items up for grabs, mostly company souvenirs inscribed with the Enron logo, now transformed into 'collectors' items'.



The Times 01/19/02
Andersen recovers missing Enron files
http://www.thetimes.co.uk/article/0,,5-2002031302,00.html

by Chris Ayres and Jon Ashworth
ANDERSEN, the accountancy firm caught in the Enron scandal, has recovered thousands of electronic files relating to the Enron audit.
The recovery of back-up files - including e-mails and duplicates of paper documents that were shredded - will help the investigation into the collapse of the Houston-based energy trading group. Andersen admitted on January 10 that individuals in the firm had disposed of a "significant but undetermined" number of electronic and paper documents relating to Enron.



The Indian Express 01/19/02
Editorial: The Unaccountables
http://www.indian-express.com/ie20020119/ed5.html

by Sunil Jain
Scanalised by how Arthur Andersen could destroy thousands of e-mails and paper documents related to its audit of Enron and the energy major's more than unconventional accounting methods? Don't know whether to believe it was just a rogue partner acting on his own accord, or whether the lead partner on the Enron account, David Duncan, was just following instructions - a person close to Duncan told The Wall Street Journal that, on October 12, an Andersen lawyer advised the Enron auditors to follow company procedure that allows for the disposal of many documents.



The Independent 01/20/02
Andersen: Auditors' reputation went through the shredder too
http://news.independent.co.uk/business/news/story.jsp?story=115349

by Jason Nisse'
The scene in the Houston office of Andersen must have been like the US embassy in Saigon in 1975 as the North Vietnamese army moved in. The accounting giant's shredding machines, which turned the most incriminating documents into unreadable mush, whirred into action, destroying data relating to its most controversial client, Enron.



Washington Post 01/20/02
Testimony is sought on file shredding
http://www.washingtonpost.com/wp-dyn/articles/A9072-2002Jan19.html

by Susan Schmidt and Kathleen Day
A House subcommittee will require top officials from Andersen LLP to testify Thursday about the accounting firm's destruction of Enron Corp.-related documents last fall, after the firm knew Enron was being investigated by federal regulators.



Sun Sentinel 01/14/02
Enron admissions deal blow to auditor
http://www.sun-sentinel.com/news/local/palmbeach/sfl-pandersen14jan14.story?coll=sfla%2Dnews%2Dpalm

by Jerry Hirsch and James F. Peltz
National Correspondents
Accounting firm Arthur Andersen's admission that it destroyed thousands of documents involving Enron Corp. might deal a crippling blow to one of America's oldest accounting companies, accounting experts say.





Peter A. Kurilecz CRM, CA
pakurilecz@aol.com
Richmond, Va