October 17, 2002
In related news

Dynegy, which once considered buying out Enron before the full extent of the fraud was known, is getting out of energy trading and preparing layoffs. With their stock at 81 cents, though, the question may just be when to call the undertaker. Good thing for Chuck Watson he got that golden parachute when he did, eh?

If you look up the phrase "anti-climax" in the dictionary today, you'll probably see a pointer to this story, in which Arthur Andersen is fined $500,000 for obstructing justice in the Enron case. This graf says it all:

The once world-class firm, with 28,000 employees in the United States alone, now has fewer than a thousand employees, most of them in the Chicago area, closing out leases, dealing with litigation and running a training center.

To paraphrase from the musical Les Miserables, a little fall of rain can hardly hurt them now.

Actually, as Mac notes, Andersen was also assessed $400 in court costs. That does make all the difference.

Posted by Charles Kuffner on October 17, 2002 to Bidness