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| Fri, 26 May 2006 12:00:00 EST Enron execs were their own worst enemies |
| If nothing else, it was poetic justice. Ken Lay and Jeffrey Skilling ignored conventional wisdom, scoffed at warnings of failure, and relished the wildly risky business bets that turned their obscure gas pipeline operator into one of the country's biggest, most innovative, and most admired companies. Then the two executives scoffed at critics who wondered if Enron's accounting wasn't too innovative and shrugged off insiders who warned of worsening finances and ethical lapses. Finally, at their fraud trial, Lay and Skilling ignored conventional legal wisdom. They took the stand and swore to the jury that Enron failed not because of any fraud but because attacks by short-sellers and journalists destroyed financiers' faith in the company. |
| Thu, 25 May 2006 16:00:00 EST A "3-basket"approach to Iran diplomacy |
| Pressure on the Bush administration for direct talks with Iran is increasing with the news that Iran itself is seeking direct contact and with Europeans pressing for the same. As the political directors from six foreign ministries gather in London to discuss incentives for Iran to halt its enrichment of uranium, a senior European diplomat called for greater Bush administration involvement. So far, the administration has refused to conduct direct, bilateral talks with Iran on the nuclear issue and refused to join a group dubbed the EU-3 (Britain, Germany, and France) in their talks with Tehran. The EU-3, with the general endorsement of the United States, Russia, and China, has been developing a package of incentives and sanctions – if Iran refuses to comply. The senior official, along with others from other countries speaking separately, say that diplomacy's best chance is for the administration to set aside its qualms and join the Europeans in dealing with Iran. The Iranians are believed to want, above all else, security guarantees that can come from the United States. |
| Thu, 25 May 2006 16:00:00 EST Trading in an ARM for the long haul may still make sense |
| There may still be time to trade in that adjustable-rate mortgage for a decent fixed-rate loan. |
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| Sun, 28 May 2006 02:50:50 GMT Powerful Indonesia quake kills over 3,500
(AP)
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 AP - Desperate relatives searched rubble for survivors Saturday after a powerful earthquake flattened nearly all the buildings in this rice-farming town while residents slept, killing more than 3,500 people on Indonesia's densely populated Java island.
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| Sun, 28 May 2006 03:00:13 GMT 1 dead in Oklahoma City mall shooting
(AP)
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| AP - A young man opened fire in a busy mall Saturday, injuring a teen before the man was shot and killed by an off-duty sheriff's deputy, authorities said. |
| Sun, 28 May 2006 02:01:04 GMT Iraqi athletes killed for wearing shorts
(AP)
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 AP - An Iraqi tennis coach and two of his players were shot to death this week in Baghdad because they were wearing shorts, authorities said Saturday, reporting the latest in a series of recent attacks attributed to Islamic extremists.
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