Friday, April 5, 2002

Nothing to Yahoo Over New E-Rules The new rules of Internet commerce are becoming increasingly public. As is your privacy. Internet users are being besieged with spam, spyware and snoopy websites that demand personal information and seemingly track users' every move. This has led e-business watchers and privacy advocates to wonder if their worst fears have been realized: that an uncertain economy has forced companies to push aside the already-fragile issue of privacy concerns in favor of the search for higher profits. [Wired] Corporate suicide in action, is what this all amounts to. By pushing these privacy issues, they are creating a backlash that will kill many more legitimate companies. The misuse of private information will serve to benefit no one and in the end will only worsen the magnitude of the dotbomb disaster...mj 8:19:49 AM

Memos: Enron pushed to muzzle auditor Enron pressured Arthur Andersen to muzzle an internal critic last year when he challenged too many of the company's accounting practices, according to documents released Tuesday. Carl Bass, an Andersen partner, was removed from his post on the firm's prestigious Professional Standards Group when Enron complained in March 2001 that he was being too critical. [Huston Chronicle] ...the widening stain. Paranoia and the refusal to see reality are endemic to the inner circles of most organizations and companies. The stories that get created to support the "social/corporate myth" do not allow for much wiggle room. Having been in this situation, I understand the seductiveness of corporate crack...mj 7:56:51 AM

Andersen sells to Big 5 rivals Arthur Andersen LLP agreed to sell part of its tax and auditing practices to rival Big 5 firms Deloitte & Touche and KPMG. Andersen said Thursday it signed a memorandum of understanding for a significant number of its U.S. tax partners and tax professionals to join Deloitte. Specifics will be refined during a review period but the deal is expected to close as early as April 30, Andersen said. [CNN/Money] The continued fall of the house of Andersen. It all comes down to trust. The most important comodity that an accounting firma has if trust...once that's gone...goodbye!...mj 7:46:39 AM

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