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RAIN 01/27: Andersen Update Part 1



There are 13 stories in this posting.

Wall Street Journal 01/21/02
Second Andersen executive says firm sent reminder about documet-disposal policy
http://online.wsj.com/article/0,4286,SB1011569230341899480.htm

by Tom Hamburger and Jonathan Weil
WASHINGTON -- Bolstering the account of a fired Arthur Andersen LLP auditor, an executive in the accounting firm's Houston office told congressional investigators that an e-mail from headquarters reminding employees of Andersen's document-disposal policy was unprecedented, people familiar with his interview say. The Oct. 12 e-mail arrived shortly before Houston personnel began destroying papers relating to Enron Corp.



Wall Street Journal 01/22/02
Employees, angry and broke, offer Enron's secrets for sale on the Web
http://online.wsj.com/article/0,4286,SB1011739317134424800.htm

by Elliot Spagat
Enron Corp. may be out of the trading business, but many of its former employees are all too happily making a market in the energy company's documents.



Wall Street Journal 01/23/02
Ex-Andersen official says he may take Fifth
http://online.wsj.com/article/0,4286,SB1011720717387048280.htm

by Tom Hamburger
The Arthur Andersen LLP executive fired for destroying documents related to Enron Corp. has told a House committee through counsel that he may invoke his Fifth Amendment right against potential self-incrimination to avoid testifying at a hearing Thursday, people familiar with the matter say.



Wall Street Journal 01/22/02
Three ex-Enron employees after documents were shredded after start of investigation
http://online.wsj.com/article/0,4286,SB1011633448213180080.htm

by Tom Hamburger, John R. Emshwiller, Rebecca Smith and Jonathan Weil
Three former Enron Corp. employees say documents were shredded in the accounting department of the company's Houston headquarters after federal investigators had begun a probe into possible illegalities at the energy giant.



ABCNews.com 01/21/02
Cover-up
http://abcnews.go.com/sections/wnt/DailyNews/enron_shred020121.html

Document-shredding continued at Enron's headquarters up until at least last week, despite federal subpoenas and court orders since last October forbidding the destruction of documents, a former Enron executive told ABCNEWS in an exclusive interview.



Associated Press 01/21/01
Feds may subpoena Enron accountant
http://dailynews.yahoo.com/h/ap/20020121/bs/enron_investigation_54.html

by Pete Yost
WASHINGTON (AP) - A House panel plans to issue subpoenas if necessary to compel testimony from Enron's accounting firm and the auditor it fired for the destruction of thousands of documents.



St. Louis Business Journal 01/21/02
Arthur Andersen turns to Bryan Cave for help
http://stlouis.bcentral.com/stlouis/stories/2002/01/21/story1.html

by Marilyn Vise and Margie Manning
A team of attorneys from St. Louis-based Bryan Cave has been retained by beleaguered Arthur Andersen to review its document retention practices and procedures.



Bloomberg News 01/21/02
Arthur Andersen liability at hundreds of millions, experts say
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&refer=topfin&T=markets_bfgcgi_content99.ht&s2=blk&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APEwzHRa7QXJ0aHVy

by David Voreacos
New York, Jan. 21 (Bloomberg) -- Arthur Andersen LLP may have to pay hundreds of millions of dollars to resolve civil lawsuits over the accounting firm's audits of Enron Corp., and its survival might be threatened, legal and bankruptcy experts said.



New York Times 01/25/02
Editorial: Certified Public Scapegoat
http://www.nytimes.com/2002/01/25/opinion/_25FRI1.html

Accountants are trained to make complicated corporate situations neat and easily comprehensible, and that is just what representatives of Arthur Andersen tried to do at yesterday's Congressional hearings into the destruction of Enron documents. A panel of employees of the accounting giant testified that the fault for what now appears to be a truly huge document-shredding project, spread out over months and perhaps involving scores of workers, lay entirely with a single man, David Duncan, who has been fired as an Andersen auditor.



Chicago Tribune 01/25/02
Andersen officials grilled
http://www.chicagotribune.com/news/nationworld/chi-0201250356jan25.story?coll=chi%2Dnewsnationworld%2Dhed

by William Neikirk
WASHINGTON -- A House investigations panel on Thursday bluntly challenged the Andersen accounting firm's claims that its fired auditor, David Duncan, was the main culprit in the destruction of thousands of Enron Corp.-related documents last October.



KPIX 01/25/02
Computer Forensics could hold clues to Enron Case
http://dailynews.yahoo.com/h/kpix/20020125/lo/2309_1.html

by Sue Kwon
Finding and piecing together thousands of shredded documents in the Enron case may be close to impossible.
But recovering computer files is a different story.



Electric Light & Power 1/21/02
Enron says it notified employees to retain documents
http://elp.pennnet.com/Articles/Article_Display.cfm?Section=OnlineArticles&SubSection=HOME&PUBLICATION_ID=34&ARTICLE_ID=133125

by Sylvie Dale
HOUSTON, Jan. 21, 2002 -- Enron Corp. said today it had emphatically instructed all its employees to save all documents that might refer to subsidiaries being investigated by several government groups, including the Securities and Exchange Commission.



ABCNews 01/22/02
Serving Papers
http://abcnews.go.com/sections/business/DailyNews/enron_020122.html

A congressional committee announced today it will subpoena top Arthur Andersen officials, in an attempt to compel them to testify at hearings about Enron's catastrophic collapse.
The House Energy and Commerce Committee said it would send subpoenas to Andersen's chief executive officer, Joseph Berardino, and David B. Duncan, the partner in charge of Andersen's audit of Enron. The committee intends to hold a hearing on Thursday.


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