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The
Predicament of Power addendum.
Report:
In
a January 26th 2002 article (1),
the New York Times reported that William Powers Jr., received
the final part of a $250,000 Enron donation in February of 2001 for the University
of Texas School of Law, where he is dean. Powers was asked by Enron in
October of that same year to join the Enron board to
head an internal investigation regarding any questionable practices the
energy company may have been involved in, and
to report the findings to the SEC.
Enron was a major donator to University of Texas School of Law.
Although
colleagues view Mr. Powers as an honest and “unswerving” person,
others question why a good individual as himself would expose his
character to allegations of being 'paid off' , and why he “opened
himself up” to this apparent “web of conflict” (1).
On
January 22nd 2002, RadioRote predicted:
The
history of Enron and their influential supporters
reflects a pattern
of questionable and rather unethical schemes. Their influence and
downfall expanded well beyond their headquarters in Houston. Their
influence peddling and support system follows a trail from Austin where
both the Texas Governors office and the University of Texas are located,
to the Legislative and Executive branches in Washington DC, to the off
shore shell corporations across the globe….
Are
key people involved in the Enron investigation "objective,"
or do their personal and professional ties make it in their best
interest to ‘cover each others backs?’ …Although William Powers jr.,
the dean of the University of Texas law school, probably envisions his
investigative task as one of an "honest broker," the
relationship and questionable practices amongst those with whom he
must now associate himself with at Enron, will create a credibility gap
between the future Powers committee report and how the general public will
perceive it -- it will raise public doubt about the validity of the
investigation before the report reaches its own final conclusions.
Even
if Enron, Andersen and the investigators "come clean" on the
final report and find, in an honest effort, that no major wrong-doing was
discovered -- the history between the investigators, the interested
parties and those they represent will end up damaging the case by
default (2).
It’s
not often one “scoops” other media outlets, let alone one of the
world’s greatest newspapers (3).
RadioRote
will strive to make it somewhat of a habit.
1. Schwartz, John. "Questions Arise on Law School
Dean's Enron Duties". New York Times. 01/26/02
2. RadioRote. "Enron: Is 'The Fix ' In? "
01/22/02
3.
RadioRote initially released the prediction on 1/14/02 -- but modified and
edited it to its current edition on 01/22/02
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