NYT,pg1:Reform Effort at Businesses Feels Pressure (with note re. Khephra)

[DeepModem Mom]

I have been away from my computer for a few weeks, and returned just in time to contribute to the DU fund in Khephra's honor. I dedicate this post, my first LBN post since his death, and all subsequent posts here, to him -- to his inspiration, his passion for our cause, his hard work, and his kindness.



Reform Effort at Businesses Feels Pressure
By KURT EICHENWALD
Published: January 14, 2005


....It must seem, at least to courthouse watchers, that the sweeping effort to clean up corporate America begun over three years ago in the aftermath of the Enron collapse is still going strong, perhaps even picking up steam. But in the boardroom and executive suites, away from the gavels and juries, a different tale has begun to emerge.

The white-hot movement to overhaul corporate governance has cooled in recent months in Washington and beyond, according to lawyers, institutional shareholders, executives, directors and other experts. On that there is much agreement. But the interpretations of this sudden, little-discussed shift vary widely.

Some experts complain that reform is slowing just as it is reaching what they say is a critical stage, while others argue that the change is the natural consequence of an effort that went too far in the first place....

***

What has emerged, experts from many sides of the issue said, is an intensifying battle over future efforts to revamp corporate governance further. It is one that pits influential members of the business community, including giant organizations like the United States Chamber of Commerce and the Business Roundtable, against institutional investors pushing for greater power over the direction of troubled companies. And it is an effort to handcuff regulators who, from the time of Enron until just the last few months, have been able to issue new directives with little fear of confrontation....


http://www.nytimes.com/2005/01/14/business/14trials.html?pagewanted=all&position=

[Karenina]

1. America has a serious problem

with the concept of the Überklass being HELD RESPONSIBLE for their crimes on EVERY LEVEL.

RIP Kef. :cry: