first_imgThe World Council of Credit Union Incorporated (WOCCU) in collaboration with the Liberia Credit Union National Association (LCUNA) has disclosed plan to train staff of the newly established credit union bank in Ganta, the commercial hub of Nimba County.The training, according to WOCCU Chief of Party (COP), Patrick Muriuki, will enhance the productivity of staff as well as provide better services to their customers.Mr. Muriuki’s comment was contained in a speech he delivered recently at a dedicatory ceremony of the Trust Savings Credit Union Bank in Ganta, Nimba County.“As per our commitment to the revitalization process, for the next three years, WOCCU and LCUNA will continue to train staff of the bank to better serve the members as well as the customers.”According to him, executives of the bank will eventually organize members of the credit union as well as other members of the association to inform them about their products and services where they would in return provide feedback from them.“We will organize members’ education days to inform our people about the credit union products and services; and to get feedback from Nimba, Bong and Lofa counties, because these are areas we need to improve our services better,” he said.Mr. Muriuki noted that the credit union is a not-for-profit making cooperative, but able to offer lower loan rates to their members, who want to venture into business.The credit unions, Mr. Muriuki said, are democratic, member-owned cooperatives, which ensure that members have power to direct credit union policy, but not-for-profits.  “Our organization is there to help raise Liberians out of poverty, by empowering them through business establishments,” said Muriuki.He said that surveys have shown that members are more satisfied with the services they received from their respective credit union organizations than customers of banks.However, the WOCCU COP added that the union is poised for positive, economic and social change that is currently providing significant value to both developed and emerging nations.At the same time, the WOCCU boss used the occasion to inform members of the union that, if majority of the members are dissatisfied with the directors because of bad policies, they have the right to replace them.Credit union elections are based on a one-member, one-vote structure, this structure is in contrast to for-profit, public companies where stockholders vote according to the number of shares they own, he added.He concluded by presenting the Ganta Trust Savings Credit Union Bank to members of the entire region three, comprising Nimba, Bong and Lofa Counties. The bank is to be used as headquarters to benefit and serve all members equally in the region.Meanwhile, The Trust Savings Credit Union is one of the four credit unions bank formed under the micro-lead program funded by the United Nations Capital Development Fund (UNCDF) and implemented by the World Council of Credit Union, Inc. (WOCCU).The program started in April 2013 for the purpose of revitalization of Credit Unions in Liberia.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more


first_imgWith the downsizing of the sugar industry leaving over 7000 workers without jobs, Guyana’s employment rate could see a dramatic increase. This is according to outspoken political commentator and economist Ramon Gaskin who on Wednesday said Government has no comprehensive policy for job creation. His comments are being made as the Guyana National Bureau of Statics (GNBS) gears up to release its unemployment numbers for 2018, which will serve as a marker to the economic status of the country. The quarterly Labour Force SurveyOutspoken political commentator, Ramon Gaskinfor July to September 2017 had revealed that the unemployment rate for persons aged 15 and above was 12 per cent, with the situation for women being substantially worse than that for men.At that time, thousands of now dismissed East Demerara, Rose Hall and Skeldon sugar workers were employed up to December 31, 2017 and taking into consideration of their contention relating to inconsistent employment, Gaskin’s estimation of an increased unemployment is likely to reflect the reality.However, as the official numbers are being finalised, Gaskin from his assessment of the economy, intimated that youth unemployment is also significant with reference to the magnitude of persons present at the recent job fair at the soon to be opened MovieTowne Guyana establishment earlier this week.“The unemployment rate is quite high, there are no jobs in this place; people are coming out of school and are looking for work; nobody opening any jobs, besides MovieTowne; there are no other jobs available…the Police, Army, public service are employing people but in the Private Sector there are no jobs,” Gaskin suggested.No concrete policyIn this light, he was questioned on the need for a shift in Government policy should the employment drop. Gaskin thereafter indicated his dissatisfaction with the presentation of Finance Minister Winston Jordan’s 2019 Budget wherein he contended that there was no concrete policy for job creation.“The Government has no policy for job creation; the Finance Minister Budget had no provision for job creation – he talked about entrepreneurship, training people in the interior and small business enterprise programme but there are no jobs available for employees. He cannot tell you where jobs are being created,” Gaskin pondered. Moreover, he indicated that the public service payroll has increased, saying that large contingents of persons are seeking employment with the State.” It’s packed up with people; all of them going there to see if they could get lil work.”Gaskin also related that Chinese-contracted building projects such as the one near the Chinese embassy have a majority of foreign workers in addition to the Cheddi Jagan International Airport (CJIA) expansion Project. He called for more locals to garner employment on such projects. After seven years, the CJIA expansion remains incomplete due to several delays.The 2017 survey was done from a total population of 550,831 – persons 15 years and above, with some 72.2 per cent living in urban areas. From this figure, only 271,068 comprised the total employed population during the time of the quarterly survey, with males having accounted for 166,873 and females 104,195. The survey’s findings had revealed unemployment among women was 15.3 per cent and among men 9.9 per cent. The youth unemployment rate among 15 to 24-year-olds was almost twice that of adults, with 21.6 per cent. Young women had seen 28 per cent of them being unemployed.The employment rate for persons 15 and above was 49.2 per cent, with 62.1 per cent being males and 36.9 per cent being females. It had been also noted that the percentage of employed people in time-related underemployment was 4.2 per cent, with 72.2 per cent of the underemployed being based in urban areas.The survey also found that 28.4 per cent of the labour force is underutilised, while between 48.3 per cent and 52.6 per cent of the persons employed hold informal jobs.Prior to the 2017 estate closures, the Wales Sugar Estate was shuttered in December 2016 and many workers in that community say they have faced a decline in finance. Given the decrease of jobs in rural areas over the two-year period, it remains to be seen what the numbers in the 2018 survey will reflect.last_img read more


first_imgENCINO – He stands on his little balcony, his tiny body belying the powerful aura engulfing his two visitors below. One of them, a huge college basketball fan, immediately develops this eerie vision of the pope, looking down upon the masses who worship him. The only difference is John Wooden doesn’t look down on anyone. He still lives here in the same suburban apartment he moved into with his beloved wife, Nell, in 1973. The name “WOODEN” remains on the apartment directory. His home is as ostentatious as a vinyl welcome mat. Right off Highway 101 as it snakes into the San Fernando Valley, the four-room apartment is in a simple, beige, two-story apartment complex, the kind you see in a thousand middle-class suburbs. It’s far from a Malibu castle befitting a man who won a record 10 NCAA titles for UCLA, built a record 88-game winning streak, revolutionized the game with his zone press and remains – possibly forever – the greatest coach the college game has known. Nell, whom he met at a carnival when he was 14 growing up in Martinsville, Ind., died March 21, 1985. To this day, on the 21st of every month, he writes a note to her and places it under her pillow. He didn’t attend a Final Four for 10 years after her death. “It doesn’t get any easier, does it?” he is asked. Wooden shakes his head. During a 45-minute interview, it’s the only question he doesn’t answer with words. But Wooden stays too active to dwell on the past, both good and bad. He speaks 30 times a year at the Arco Building in downtown Los Angeles for American Funds. He speaks at fundraisers for schools and churches, and attends nearly every UCLA home game, sitting in the same seat behind the bench where he patiently signs autographs before tip-off. Basketball remains his passion and he remains as sharp – if not as agile – as the slender little man with the rolled-up program who made Hall of Famers from Lew Alcindor to Bill Walton jump at his calm commands. Wearing a blue cardigan sweater over a blue denim shirt and gray slacks, John Wooden sits back and discusses the game and life he still loves. He says he attributes his longevity to only two meals a day – one at VIP’s, of course – and a lifetime of abstaining from alcohol. He smoked only briefly in the Navy. He also attributes an attitude he thinks more people, young and old, should have. “I’ve always tried to teach and practice: Don’t be affected by either the highs or lows,” he says. “Don’t let either one bother you. I’ve said the two most important words – and they’re in my bookcases – one is love and the other is balance. They are the two most important words in our language. Just keep things in perspective.” Maybe that was as big a key as Alcindor’s hook, Walton’s passing or that withering UCLA press. If any reader is old enough to remember Wooden’s national titles in the 1960s and 1970s, do you recall Gail Goodrich or Sidney Wicks or Marques Johnson jumping up on a scorer’s table with the net around his neck? Didn’t think so. “I never wanted excessive celebrations at all for myself or my players,” Wooden says. “On each of my 10 national championship teams, we had the game won before the last few seconds. I had a timeout. I’d tell my players, `Now, I know you want to get the nets but let’s don’t make fools out of ourselves. Let the student body and alumni make fools of themselves.’ ” Wooden always did, and always will, refer to himself more as a teacher than a coach. In an era when youth rebelled against authority, Wooden and the Bruins were in their prime. Walton marched against the war. Alcindor, later Kareem Abdul-Jabbar, spoke up for minority rights. The best college players in the land were also among the most engaging, free-spirited interviews. “I wanted them that way,” Wooden says. “I’ve said to young people, `If you want to be heard, you have to listen.”‘ While Wooden let players be themselves off the court, they were all his on it. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!center_img He has just returned from VIP’s, the 1960s-style diner in nearby Tarzana where he still goes four to five mornings a week at 8:30 sharp. He moves slowly around his cozy apartment – the end result of an artificial hip and no cartilage left in his knees. Then again, John Wooden is 96. What his legs have succumbed to, his mind has not. He points to the NCAA President’s Gerald R. Ford Award and the U.S. Medal of Freedom, the highest honor given to an American citizen, from President George W. Bush. He holds up his most prized possession, a bronze medal for academic and athletic achievement from his senior year at Purdue in 1932. He then points to a painting of his most beloved memory. No, it’s not one of his 10 national champions, pictures of which form a pyramid on a den wall. It’s a painting of himself and Nell. He was 16; she was 15. “She was the only girl I ever went with,” he says proudly. last_img

first_imgWe’re into the second quarter of the Premier League season now but the excitement is never ending after more interesting results this weekend.Chelsea lost again in a game which saw Liverpool boss Jurgen Klopp claim his first victory, while Steve McClaren’s Jekyll and Hyde Newcastle side were denied three valuable points by a stoic Stoke.Arsenal are continuing their march to top, while Manchester City are stumbling but keep getting results to ensure they remain on top of the table.But who were the stand out stars of the weekend? Click the right arrow above to see our XI… Attacking midfield – Arouna Kone (Everton) – After a terrible time with injuries and poor form, the ex-Wigan man is finally proving why Roberto Martinez has had so much faith in him. He claimed a brilliant hat-trick and an assist as Everton beat Sunderland 6-2 and was an absolute handful for the Black Cats who couldn’t deal with him. Attacking midfield – Philippe Coutinho (Liverpool) – If Jurgen Klopp’s side are going to start claiming more Premier League victories, the Brazilian must become a match-winner. Often the skilful star can go absent in games before displaying glimpses of his class. Performances like his two-goal showing against Chelsea need to happen more often. Attacking midfield – Mesut Ozil (Arsenal) – Currently in his best spell as a Gunner, Ozil popped up with two more assists to add to his tally as they ran out 3-0 winners over Swansea City. Now the challenge for the German is to keep this form going. Goalkeeper – Jack Butland (Stoke). Find out who else makes the team – just click the arrow above! – The England star is in good form this season and another superb display managed to keep Newcastle out at the weekend. He pulled off a number of stunning stops to deny the Magpies and he’ll be hoping this can get him another England cap in the upcoming friendlies with Spain and France. 11 Centre-back – Nicolas Otamendi (Manchester City) – The Argentine centre-back has settled well in Manchester and grabbed the opening goal of the game at the Etihad Stadium. His defensive contribution was key though as he won five headers and made six tackles to deny Norwich City. 11 Centre-back – Chancel Mbemba (Newcastle) – In the air and on the deck, the man known as the Chancellor is becoming a reliable figure at the back for the Steve McClaren’s side. He won five aerial duels and made three tackles to keep out Stoke on Saturday, while remaining tidy in possession and managing two efforts on goal. 11 11 Defensive midfield – Etienne Capoue (Watford) – It didn’t work out for the Frenchman at Tottenham but he’s been doing a good job for the Hornets so far this season. Against West Ham he was heavily involved and impressed talkSPORT pundit and ex-Arsenal star Ray Parlour who was cooing over the midfielder’s performance. Striker – Odion Ighalo (Watford) – If the Hornets avoid relegation back to the Championship this season it will be down to their strike partnership of Ighalo and Troy Deeney. The duo work well in tandem and the Nigerian’s double, which downed West Ham, continues to show he’s one of the most clinical forward’s currently in the Premier League. 11 Defensive midfield – Fernandinho (Manchester City) – When on form, the Brazilian is one of the most formidable midfielders in the Premier League. Against Norwich City he was imperious in possession, misplacing just five of his 125 passes as Manuel Pellegrini’s men won 2-1. 11 Right-back – Seamus Coleman (Everton) – It was a brilliant team performance from the Toffees as they dispatched Sunderland 6-2 at Goodison Park but Coleman finally looks to be regaining his form after injuries hampered his progress. Left-back – Nacho Monreal (Arsenal) – Usually in the shadow of Hector Bellerin on the opposite flank, Monreal has been a solid and steady performer for Arsene Wenger this season. Against Swansea City he was exceptional going back and forward as he had three successful dribbles, won four aerial duels and put in four tackles. 11 11 11 11 11last_img read more


first_img1 Remi Garde Remi Garde will be backed in the transfer market by Aston Villa in a bid to save them from the drop.The boss flew to America with chief executive Tom Fox to meet owner Randy Lerner this week with Villa eight points from safety.They are rock bottom of the Barclays Premier League and are on a club record run of 15 league games without a win.Fox appointed Garde as Tim Sherwood’s replacement in November and said Garde will get the funds next month if he needs them. “It’s up to Remi. If he decides he needs something he has the chairman’s ear and his support, absolutely,” he said.“The transfer window hasn’t opened. Remi has only been here for five games.“He will take every game he has to ascertain…I don’t think it makes any sense to predict what he might need come January 2.“It’s not something that I have an opinion on.“My job is to assist him when he decides there is something he might need.“Right now the focus is on the players we have and getting the results in these next games over the Christmas period. “He’s had a few games under his belt and he’s got some very important ones coming up, too. I don’t think even he will be able to tell you what he’s thinking right now.”Fox also insisted Garde has the final say over any deals in January and believes the 13 players Villa signed under Sherwood in the summer are good enough.He said: “Remi Garde has (the) complete and final say over players who are brought in and that situation hasn’t changed between the last manager and this current one.“What’s most important to me is that the manager is happy with the players, the squad and the business we did over the summer. The manager is very positive on the business.“He knows a lot of the players not only the French players but the English players as well.”last_img read more


first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.Getting a project built at the site has been years in the making. The property changed hands, and developers unveiled plans first for a gas station and then a strip mall. Residents opposed both. What they are getting instead is a $12.5 million project that slopes down, standing two stories tall at one end, with more than a dozen shops, a couple of restaurants and a parking structure. When it opens in 2009, the Town Center will have 43,000 square feet of retail, restaurant and office space, compared to the original proposal of 16,000. Residents hope it will serve as a gathering place, as it was decades ago when Commerce Avenue was the town’s bustling main street, when the site was known as The Garden of the Moon. Located in a grove of oak trees, the center attracted visitors in the 1920s and ’30s with an outdoor dance floor and temporary boxing rings, said Lloyd Hitt, president of the Little Landers Historical Society, a Sunland-Tujunga group. The developer, Kiong-Su Han, said he is also happy with the project, even though it will cost him nearly twice as much to build as the U-shaped mall he originally proposed. “It’s kind of hard at the beginning of the project to convince the developer to work with the community,” said Samuel Cho, the project’s architect. “But at the final stage, the developer understood the community’s needs, so I think this is one of the good examples of how the developer worked with the community together.” The lovefest stands in stark contrast to the same community’s battle against the Home Depot. That proposal called for the home-improvement store to be built where a Kmart once stood on Foothill. In August, the City Council told Home Depot to conduct a full study of the project’s environmental and traffic impacts before it can go forward, a major victory for residents. Now, with the Town Center, they have a project everyone can be proud of. “When Sunland-Tujunga decides to draw the line,” said local artist Charlotte Leu, “they dig in their heels and good things happen.” alex.dobuzinskis@dailynews.com (818) 546-3304160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SUNLAND-TUJUNGA – To the casual observer, a fenced-off hole in the ground at one of this area’s most prominent intersections looks like any other construction site. But to local residents, the excavated 2-acre lot at Foothill Boulevard and Commerce Avenue is a sign of progress and compromise. While residents of Sunland-Tujunga sport bumper stickers opposing a proposed Home Depot – a project they helped delay – their wariness of overdevelopment didn’t apply to the Foothill Commerce Town Center, which will be more than twice as big as originally proposed, because that’s what the locals wanted. “How often do you hear about that?” said Debby Beck, a local artist and designer who became the community’s point person on the project. “People are so happy, they’re so happy to see that dirt getting dug up. It’s just amazing.” last_img read more


first_imgSchwarzenegger then turned serious, highlighting the important role the newest alternate-fuel and hybrid vehicles play in reducing greenhouse-gas emissions.“It is fantastic to see that the world’s automakers are developing the technology to help us meet our goals in California. These cars come in every size and shape, and they prove that we can give consumers the choices they want and still protect the environment,” he said.Chevy’s Hybrid Tahoe uses a two-mode hybrid system that merges the automatic transmission with the hybrid technologies. Larger vehicles get lower gas milage because they weigh more, so something was needed to boost it.“An equalizer has been needed, and the two-mode system in the Tahoe is clearly that equalizer,” Cogan said.The Tahoe beat out hybrid versions of the Chevrolet Malibu, Mazda Tribute, Nissan Altima and Saturn Aura.greg.wilcox@dailynews.com818-713-3743160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREStriving toward a more perfect me: Doug McIntyre While that might not sound impressive, this SUV puts out fewer tailpipe emissions than its gasoline-powered counterpart.“We’re thrilled to receive this recognition,” Chevrolet General Manager Ed Pepper said in a statement. “We’ve felt that the Tahoe Hybrid represents the best of both worlds – great utility you’d expect from a Tahoe with fuel economy on par with today’s mid-size cars.”Voters included editors at the magazine, talk-show host Jay Leno and car designer Carroll Shelby. Environmental groups also participated.Chevrolet got its green trophy 30 minutes before Gov. Arnold Schwarzenegger stepped up to a microphone in front of the center’s South Hall and stole the spotlight from the gleaming cars.“I haven’t seen this much technology since I did my ‘Terminator’ movies,” the governor said while standing in front of a row of next-generation electric and fuel-efficient vehicles from foreign and domestic manufacturers. “I’ve changed a lot of technology on my cars, whether it is my Hummer or my other cars.” What do you call a full-size SUV that can seat eight people comfortably, can tow 6,200 pounds without straining and has 60 cubic feet of cargo space? Well if it’s the Chevrolet Tahoe Hybrid, you call it the 2008 Green Car of the Year.Surprised it’s not a plug-in all-electric car? Don’t be.“We look for cars that will move the bar forward and be available for sale by January of the award year,” said Ron Cogan, editor of the Green Car Journal, as he announced the winner on Thursday at the Los Angeles Auto Show.The Hybrid Tahoe is powered by a 6.0-Vortec V-8 that provides 30 percent better fuel efficiency than a Tahoe powered by a standard V-8. Gas milage is estimated in the range of 14 city and 20 highway.last_img read more


first_imgDenise with her mum Ethel after being chosen as there Perth Rose last night.A Donegal woman has just been selected as the Perth entry for the upcoming Rose of Tralee contest.Denise Quigley was a hugely popular winner of the contest which was held last night Down Under!Denise is pictured with her mum Ethel Quigley who is from Frosses. The bus from Frosses is already fuelled and ready to go to Tralee for the finals!Good luck Denise.DONEGAL WOMAN CHOSEN AS THE PERTH ENTRY FOR ROSE OF TRALEE was last modified: April 24th, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Denise QuigleyPerthRose of Traleelast_img read more


first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE11 theater productions to see in Southern California this week, Dec. 27-Jan. 2For prosecutors, and perhaps for a public eager for someone to pay the price for the business scandals, Enron and Lay and Skilling loomed over all the rest. And on Thursday, they were snared: Lay and Skilling were convicted of federal fraud and conspiracy charges. “Obviously, I’m disappointed. But that’s the way the system works,” said Skilling, who was convicted of 19 counts of conspiracy, securities fraud, lying to auditors and insider trading. Lay was convicted of conspiracy, wire fraud, securities fraud, bank fraud and lying to banks. Enron’s rise was a remarkable story: An edgy energy trading company, the seventh-largest company in the country at one point. A glad-handing CEO pocketing hundreds of millions of dollars who was the toast of Houston and had the ear of President George W. Bush. Its fall was just as remarkable, too: Thousands of jobs and billions of investor dollars down the tubes. Implode is precisely what Enron did. And in the age it came to define, Enron had some striking similarities to, and notable differences with, the other white-collar scandals that followed it. HOUSTON – Enron was always the big fish. Sure, there was Martha Stewart, whose celebrity and pitch-perfect homemaking talents made a public spectacle of her trial and conviction for lying about a curiously timed stock trade. And there was Bernard Ebbers, the folksy former chief executive of WorldCom Inc., who was convicted of presiding over an $11 billion accounting fraud, the biggest in the scandal-pocked years since the dot-com boom went bust. But make no mistake: All along there was one company, and two men, that came to symbolize an era of corporate fraud in America. The company was Enron Corp., and the men were Kenneth Lay and Jeffrey Skilling, its former CEOs. As in the fraud cases involving WorldCom, cable giant Adelphia Communications Corp. and HealthSouth Corp., federal prosecutors worked slowly to wring guilty pleas from lower executives, then used those as leverage to win indictments against the bosses. All four cases were demonstrations of the significant power prosecutors wield with cooperating witnesses, who must work – sometimes for hundreds of hours – to help the government build its case, or risk far lengthier prison terms. “They treated this like a mob case, or a drug deal, where they get the captains first,” David Berg, a Houston civil litigator, said in an interview before the jury returned its verdict. “And they did a brilliant job of simplifying this case.” In the Enron case, eight former executives with government deals testified against Lay and Skilling. Defense lawyers derided them – unsuccessfully, it turned out – as “shellacked” and untrustworthy because of their incentive to help the prosecutors. Lay and Skilling employed an interesting defense, arguing in the face of widespread public opinion that there was simply no widespread fraud at Enron – only lesser crimes by the former finance chief, bad press and market pressures that took it down. It was a departure from what has been called the “Sgt. Schultz defense,” after the I-know-nothing character from the 1960s TV show “Hogan’s Heroes.” Other CEOs, most notably Ebbers and ex-HealthSouth chief Richard Scrushy, claimed that while there may have been fraud, they were unaware. Federal jurors in New York didn’t buy it with Ebbers, who was convicted of fraud and sentenced to 25 years; he is appealing. Alabama federal jurors let Scrushy walk in the government’s highest-profile white-collar defeat. Ultimately, the jury in Houston was unwilling to believe Lay’s and Skilling’s line of defense that Enron may have failed, but not because of overarching criminal activity. The Enron trial was also a demonstration of the enormous gamble corporate executives, like all criminal defendants, take when they decide to testify in their own defense. Ebbers was convicted after he testified he “just didn’t see” documents that raised alarms about WorldCom’s finances. Tyco International Ltd. ex-CEO L. Dennis Kozlowski was convicted in a New York state court after testifying he was “not thinking” when he left a $25 million bonus off his 1999 tax return. Lay entered the trial with a reputation as the affable CEO, and Skilling as a temperamental manager who was brilliant at building the company but less comfortable running it during the six months he served as CEO in 2001. On the witness stand, they reversed roles. During cross-examination, Skilling simmered – and Lay boiled over, snarling and quarreling. Asked by a prosecutor whether he had ever engaged in name-calling at Enron, Lay shot back: “Are you considering yourself on that list?” And now, Lay and Skilling become just the latest high-powered business figures to take the stand and pay for it. “You never know how that kind of temperament plays with a jury,” said Robert Mintz, a former federal prosecutor now in private practice. He said Lay appeared “to be perhaps too bitter, too out of touch with what was going on at the company.” Corporate scandals did not begin with Enron’s end, of course. One need only think back to the insider trading and savings-and-loan debacles to of the 1980s to remember that. And just this week, federal regulators put out a scathing report about mortgage giant Fannie Mae, including charges of lying to investors and shady accounting designed to enrich executives. As long as there are companies in America, there is likely to be corporate wrongdoing, even if the Enron era – bookended by the company’s bankruptcy in 2001 and the convictions Thursday – is finally over. A chronology of the Enron case 1985 – Houston Natural Gas merges with InterNorth to form Enron, HNG CEO Kenneth Lay becomes CEO of combined company the following year. 1989 – Enron begins trading natural gas commodities. 1990 – Lay hires Jeffrey Skilling to focus on commodities trading in the deregulated markets. Andrew S. Fastow is one of Skilling’s first hires. 1997 – Skilling named president and COO. Fastow creates Chewco, a partnership, to buy the University of California pension fund’s stake in another joint venture dubbed JEDI, but Chewco doesn’t meet requirements to be kept off Enron’s balance sheet. First step toward similar financial moves to hide debt and inflate profits that fuel Enron’s downfall. 2001: Aug. 22 – Finance executive Sherron Watkins meets privately with Lay to discuss concerns of murky finance and accounting. Oct. 16 – Enron announces $638 million third-quarter losses and $1.2 billion reduction in shareholder equity stemming from writeoffs. Oct. 19 – SEC launches inquiry into Enron finances. Dec. 2 – Enron goes bankrupt, thousands of workers laid off. 2002: Jan. 9 – Justice Department confirms a criminal investigation. Jan. 10 – White House discloses Lay sought help from two Cabinet members shortly before the collapse, but neither offered aid. The company’s auditor, Arthur Andersen LLP, says it has destroyed tons of Enron documents. Jan. 23 – Lay resigns as chairman and CEO. March 14 – Arthur Andersen indicted on charges of destroying Enron-related documents. June 15 – Andersen convicted. Oct. 16 – Andersen sentenced to probation and fined $500,000. 2004: July 8 – Lay surrenders after being indicted. He pleads innocent. 2006: Jan. 30 – Lay, Skilling trial begins. May 25 – Lay and Skilling are convicted of conspiracy to commit securities and wire fraud. Lay is convicted in a separate bank fraud case.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more


first_img1 Thomas Christiansen is the new head coach of Leeds United Leeds United have confirmed the appointment of Thomas Christiansen as their new head coach.The former APOEL Nicosia boss succeeds Garry Monk, who resigned from the Elland Road hotseat last month.The Danish-born former Spain striker steered APOEL to the last 16 of the Europa League and to the Cypriot first division title last season, but was released by the club on the same day that Monk departed Elland Road.He previously spent two years in charge of AEK Larnaca FC, leading them to consecutive second-place finishes in the Cypriot top-flight.Christiansen’s appointment ends Leeds owner Andrea Radrizzani’s three-week search for a new head coach.Predecessor Monk departed on May 25 after just one season at Elland Road and less than 48 hours after Radrizzani had completed his full takeover of the club.Leeds managing director Angus Kinnear said: “We are delighted to make this announcement today as it successfully concludes what has been a thorough and extensive search, following a huge level of interest from all over the football world.“We wanted to appoint someone who can help us create a winning culture at the club and unite everyone connected with Leeds United, from the players to the supporters, ultimately taking the club back to where we all feel we belong.“Thomas was someone who had been on our radar from the very early stages of the process and quickly established himself as the outstanding candidate.“We are confident we have found a man with who can work with us to take the club to the next level.”last_img read more