Very few lawyers have been the targets of criminal prosecution in any of the corporate collapses of the last year, he added.
On Dec. 2 Enron would go into the record books as the largest corporate collapse in the nation's history.
One hopes that corporate collapses will not become commonplace.
Following corporate collapses in Australia around the same time, working groups were established to develop standards for corporate governance.
The culprit this time is not the banks or a major corporate collapse, but the coldest summer in a decade.
These corporate collapses focused investors' awareness on quality, which may vary from stock to stock.
The severest market penalty for under-performance is loss of office following corporate collapse, or, more probably, a change in control.
When the company finally sought bankruptcy protection, it marked the biggest, fastest corporate collapse in American history.
These corporate collapses have a common thread.
He also wrote a number of books on prominent Australian corporate collapses and goings on.