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View Diary: Thoughts on the Enron decision from an ex-Andersen guy (240 comments)

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  •  Hear, hear (2+ / 0-)
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    clammyc, MarketTrustee

    I was with Price Waterhouse / PwC (consulting side) for 15 years.  I saw the quality of the firms' leadership decline considerably in the 1990s, and I remember distinctly when I thought it started to happen: About 1993 the overt message to partners became "Grow, grow, grow."  I think one result of the growth was a dilution of the culture of integrity that had existed before then when a partner would be more likely to walk away from a dishonorable client.

    The lack of couth by the partnership leadership team can be exemplified by this anecdote.  In early 2000, I was present at a forum when a senior partner was asked about the rumours of a collapse of the tech market. "No way, we have a huge backlog!" was the confident reply. Eighteen months later that same partner came to the same location during the firm's drastic layoffs, and said, "No one could have predicted this."  

    Such management malpractice. The best and the brightness were not running the ship.

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