Market Destroys Andersen

Chicago Tribune ^ | June 2, 2002 | Andrew Countryman and Delroy Alexander

[bloggerjohn]

As Chicago-based Andersen fights for its corporate life in a Houston courtroom, the accounting giant has been hemorrhaging clients at a breathtaking rate, reinforcing serious questions about what, if anything, will be left to carry on, even if it wins its legal battle.

Since the scandal surrounding Enron Corp. exploded and Andersen was indicted on a federal obstruction-of-justice charge, auditing clients have been leaving in droves--nearly 600 in the past three months alone.

[bloggerjohn]

Yes, the market does work; but only if the public is allowed to find out what is going on. So the only thing standing in the way of a truly working free market is a rotten media.

[dts32041]

Andersen has nothing to worry about, it will always do business in chicago.

You see daley trusts them to handle to financing of millinemum park and solider field.

[dts32041]

And daley will help them make up the billion in two years.

[Asclepius]

Even people in leadership positions at Andersen are now firming up where they are going to go when the lights finally go out.

Do you want fries with that?

[Glenn]

BS. The designs of an ambitious lawyer at the (Republican controlled!) JD killed Andersen. It was uncalled for. I hope the government loses this case.

[Kozak]

Maybe they can go into a new line of work -- blackmail. They must have lots of nasty stuff that didn't get shredded.
"Thats right for only a modest fee our company will not reveal that your corporation has been padding the books for the last 5 years"......

[steve50]

No big deal. A couple low level number crunchers do 6 months and the company pays a relatively small fine. I'd say they made out like bandits.

[Bill Davis FR]

Bull...Anddersen destroyed itself...

[Maelstrom]

bump
ANOTHER article showing how Capitalism enforces Morals