Scandal

Another day, another corporate scandal. On Thursday, the target was Westar Energy Inc. Chairman David Wittig, who was indicted by a federal grand jury on charges of money laundering, conspiracy and four counts of submitting false books to a federally insured bank in Topeka, KS.

Another day, another corporate scandal. On Thursday, the target was Westar Energy Inc. Chairman David Wittig, who was indicted by a federal grand jury on charges of money laundering, conspiracy and four counts of submitting false books to a federally insured bank in Topeka, KS.

Without ever once mentioning the financial collapse or scandal that has pervaded Enron Corp., President Bush last Thursday called on federal regulators to mete out stiffer punishments to corporate officers who abuse their positions and provide “grossly inaccurate” information to investors. Bush also said he favored the creation of an independent board to oversee the accounting profession.

Without ever once mentioning the financial collapse or scandal that has pervaded Enron Corp., President Bush Thursday called on federal regulators to mete out stiffer punishments to corporate officers who abuse their positions and provide “grossly inaccurate” information to investors. Bush also urged regulators to create an independent board to oversee the accounting profession.

Nine federal agencies have begun a review of an estimated $70 million in existing government contracts with scandal-ridden Enron Corp. and Arthur Andersen LLP to determine whether they are being carried out “in accordance with contract terms and proper business practices.”

California’s debacle followed by Enron’s scandal has cast a broad shadow over state and federal energy initiatives this year, according to former U.S. Sen. Slade Gorton (R-WA), speaking last Thursday at a two-day industry conference in Seattle, “Buying and Selling Power in the West.”

California’s debacle followed by Enron’s scandal has cast a broad shadow over state and federal energy initiatives this year, according to former U.S. Sen. Slade Gorton (R-WA), speaking Thursday at a two-day industry conference in Seattle, “Buying and Selling Power in the West.”