Harmful Enron Practices Widespread,
Scott Klinger, United for a Fair Economy
The Enron fiasco’s only silver lining, perhaps, is that it
highlighted questionable practices that drive profit-hungry
companies. However, as financial analyst Scott Klinger reports in
United for a Fair Economy, many of the manuevers that led to
Enron’s collapse, like tax dodges, undue risks for workers and
excessive rewards for executives, are not only legal, but widely
practiced. Klinger cites several companies that employ Enron-like
means to pad profits, including Coca-Cola, Boeing and
Vice-President Cheney’s former company, Halliburton. To combat
these harmful practices, Klinger suggests a ’12-Step Recovery
Program’ that would include stronger disclosure requirements and a
higher audit rate. Until then though, these companies can enjoy
their status as the prideful recipients of Klinger’s ‘Enny’
award.
–Julie Madsen
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