The New York Times published on Sunday a very favorable report on Ken Lay. In it, they argue that he was, at least in part, wrongly chastised for his role in the Enron affair. Apparently, we are to believe that the CEO didn't know what was going on inside the company he ran. After news of the report appeared in numerous U.S. media earlier this week, the BBC today counterattacks brutally (although perhaps not intentionally), describing some of the most ruthless Enron practices - like placing the combined total salary of the top 200 executives salary at one and a half times the company's total earnings (Lay's went from 15m to 164 mil in that period). My question is simple: just what is going on here?
"Mr. Magoo." Just the man to run the Army in a two-front Middle Eastern war, right? username: metafilter password: metafilter via rc3.
NY Times Reporter Jumps to His Death: Matt Drudge reports that New York Times Business reporter/editor Allen Myerson jumped to death at the NY Times building in New York City on 43rd Street this morning. Myerson was the Weekend Business Editor at the NY Times and a member of the Business Journalism Advisory Council. Among other things, Myerson reported on Enron. An abstract of a Myerson article that appeared in the newspaper last December says, "Enron Corp's failure is having repercussions not just on nation's energy industries, but is being felt through retailing, real estate, insurance, banking, Internet services, newspaper publishing, plastics and glass manufacturing, all of which Enron touched in its boundless appetite for risk and growth."
What do Greenspan, Enron and the number 11 all have in common? Economist and NYT colimnist Paul Krugman notes with not too much irony that "Just one month ago the James A. Baker III Institute presented Alan Greenspan with its Enron Prize." (a big wince over regretable timing, and the emphasis is mine) No big conspiracy here, but the general thrust of Krugman's column (NYT link) is that somethings got to give if things are to again get real (good). Lots of interesting under-reported economic factoids in the article make for enlightening reading.