"The George Dynasty's decisive handling this time is not bad, and the doubts about the domestic security situation have begun to disappear. Last month, Harry Potter's hot show in the Western world has restored the confidence of the film industry..."
The elected but not yet inaugurated Shinco New York Mayor Bloomberg hosted the top dinner on Wall Street. Song Ya was also present. He was talking to Samuel of PricewaterhouseCoopers, his partner for many years. Out of such a big basket."
"Yes, capital's confidence in us has dropped to a trough."
Arthur Andersen, who dared to be absent from the congressional hearing, recently tried to dump the pot to its Houston branch senior partner David Duncan alone, but that couldn’t convince the public. Although the partnership system does make the accounting firm more like a loose alliance. , But Arthur Andersen is not only responsible for Enron’s internal and external audits, but also its consulting business. According to Enron’s false accounts that were so rampant to “bad acting”, such as throwing huge debts to the so-called client company named after the comic hero. , Arthur Andersen Chicago headquarters cannot be so white lotus.
Investors sued, and the U.S. Securities Commission and various relevant departments have also launched investigations into Enron and Arthur Andersen. The latest data is that Anran company has recruited hundreds of employees with Arthur Andersen work experience, including chief accountants and financial institutions. Director and other important positions, even if the top five gold-plated qualifications have always been a springboard to gold-collar positions, this number is too exaggerated.
Arthur Andersen and Enron were embarrassed to kill countless investors for treacherous pitfalls. They also caused the credibility of the other four major accounting firms and multinational companies to fall to the bottom. Investors also had a crisis of trust in the accounting, consulting industry, and the U.S. securities industry.
Although multinational giants such as Vivendi Global and WorldCom, which have in-depth cooperation with Arthur Andersen, have been placed under a magnifying glass for inspection, are the other four really so clean? The U.S. stock market has fallen for more than a year. Which company does not have a bunch of customers who have suffered a rapid decline in market value during the stock market crash, suspected of illegal cashing out, and financial fraud?
Samuel nodded: "We need to be decisive and immediately rebuild trust. The disaster cannot spread, otherwise the consequences will be disastrous."
The accounting industry has always been shaped as a neutral and upright institution. It is a supervisor, a gatekeeper, and an economic policeman. If the industry collapses, the company’s market value will have no credibility. The entire modern corporate system based on securities trading will be Facing a deep crisis.
In fact, Song Ya didn’t want to appear in the same frame as Samuel, who is in charge of most of the company’s business at this point. Sloan opposed it. Believing such a big thing, she said that it is not a good idea to rush to see the chairman of the US division of PricewaterhouseCoopers at this point, and it will make current turbulent investors have bad associations.
But Samuel insisted on the invitation, seeking support for the PwC CEO, who was vacated by his competition next year. Under the partnership system, owning a number of companies such as 3DFX and Littman Media is the biggest one for Samuel. One of the clients, who can show and stabilize himself in the current sensitive moment, will be the capital and backing for him to compete for higher positions within the company.
Song Ya agreed after consideration. He and Samuel have always cooperated happily. Samuel is right. After the Enron Andersen Thunderstorm, if the problem of false accounts spreads to the other four major players, not only the U.S., but the entire capital world. Faced with a deeper crisis, the securities market is already very difficult, so governments of all countries will not sit back and PwC should not be too dangerous.
"On the 12th, the House of Representatives Financial Services Committee will once again summon the top executives of Enron and Arthur Andersen to participate in the hearing, and Arthur Andersen will not go again this time, right?" Song Ya asked.
"Should, now it is unrealistic to want the Houston branch to shoulder all the responsibilities." Samuel replied.
"Do you know their French branch?" Song Yanian never forgets Vivendi Universal.
"The boss over there is Aldo Padoso, who is also a senior partner in charge of Vivendi's global business. Others..."
Ten years of cooperation, Samuel knows that this young client who has seen his own'seeing the big since childhood' has the character of revenge and revenge from morning till night, what he wants to do at a glance, "What do you want to know?"
"Just...you know, hehe." Song Ya scratched his head and smiled.
"OK, I will send the information to your mailbox later." Now that I have to ask for help, Andersen is sure to be unlucky again. As usual, Samuel will never do this kind of dismantling the same channel.
"Don't, just give paper copies."
"Ok."
"Thank you."
"Little things..."
The two huddled together, and other guests at the dinner looked at this side from time to time. The whole Wall Street is now afraid of the Enron incident causing a series of thunderstorms. People are in panic. Everyone is trying their best to observe even the slightest disturbance.
"It looks like they are both in a good mood?" a fund manager asked a friend next to him.
"Well, Samuel is expected to succeed the original CEO next year and become the boss of PricewaterhouseCoopers. He served APLUS when he was a senior partner in the Chicago branch."
"That was nearly ten years ago, right?" The fund manager recalled and whispered: "APLUS was only a teenager?"
"Well, do you remember that he sold Barn's more than 100 million dollars to Dow? I remember that Barn's audit consulting business was Yongdao before it merged with PricewaterhouseCoopers. Without Samuel's escort, APLUS absolutely He will not grow up to be the black pharaoh of today."
"Hehe, Black Pharaoh... Lucky boy, he didn't choose Arthur Andersen whose headquarters is in Chicago."
"It is said that Andersen's quotation was a little higher than that of Yongdao at that time, so..."
"Rumor, hehe..."
The fund manager looked at Song Ya with envy and jealousy, "Seriously, this kid has a hand in creating gods for himself. I heard from friends in Hollywood that his A+ entertainment money-making projects will claim to be led by him. Yes, if you lose money, you leave the blame to the poor CEO Yeremov, and a large number of black celebrities simply advertise that he is a prophet and blatantly engage in a cult that deceives people... It is really disgusting. He Litman Media The broken novel website under its umbrella was almost forced to delist, but no one mentioned it. Who knew that PricewaterhouseCoopers and him did not secretly fake things like Arthur Andersen and Enron."
"Come on, he just appeared at the XBOX conference with the world's richest man last month. With the ultra-high shipments of XBOX on Black Friday, 3DFX is now a star company in the mourning Nasdaq listed company. Look. …" His friend Nuzui, and the two saw the former chairman of the Nasdaq Stock Exchange Madoff walking towards Song Ya.
"I just saw Robert of Goldman Sachs looking for you, APLUS."
The Nasdaq Index fell like this, and Madoff also left not long ago. Of course, this does not affect his fund to continue to provide stable investment income.
"OK, thanks to Mr. Madoff."