THE ARCHIVES: February 12, 2002
Group Lobbies Companies Not to Renominate Enron
Kemba J. Dunham
Staff Reporter of THE WALL STREET JOURNAL
drubbing of Enron Corp.'s board members isn't
over workers and union pension funds harmed by
the collapsed Houston energy company, the
AFL-CIO is lobbying 21 companies not to
renominate 11 Enron directors serving on their
boards. Last month, Richard Trumka,
secretary-treasurer of the labor group, sent out
a letter to the companies, calling for the
removal of the directors who are unable to prove
how they tried to protect shareholders.
companies include Comdisco, Motorola and
Lockheed Martin. Some are in the process of
deciding on board renominations. "This has
to be a difficult moment because I think this
impulse will be to stand by their directors to
preserve the relationship," says William
Patterson, director of the AFL-CIO's Office of
Investment. "That's the culture of
corporate America; board members stick
the AFL-CIO has received eight written
responses. ("Nothing substantial,"
says Mr. Patterson.) One company's chief
executive, however, called the labor group and
said he would pressure the board member to
resign if it's discovered that the director did
nothing to protect Enron's shareholders.
despite the lackluster responses to the AFL-CIO,
there have been some resignations since the
letter went out. On Jan. 30, Enron director
Robert Jaedicke resigned from California Water
Service Group's board where he had served since
1974. A representative of the utility said Mr.
Jaedicke resigned on his own. Last week, Wendy
Gramm announced her resignation from the fund
boards of Invesco Funds Group Inc., a Denver
mutual-fund unit of Amvescap PLC, where she had
served as an independent director since 1997. An
Invesco spokeswoman declined to comment on
whether it was Dr. Gramm's decision to resign.
Dr. Gramm didn't return calls seeking comment.
Enron Chairman Kenneth Lay and James Derrick, an
executive vice president and general counsel,
are both "in the process of resigning"
from the board of NewPower Holdings Inc., says a
company spokeswoman. She adds that both are
leaving the Purchase, N.Y., energy retailer on
AFL-CIO is taking other steps. Last week, it
wrote a letter asking the Securities and
Exchange Commission to determine whether Enron's
directors should be banned from serving on all
corporate boards. The SEC acknowledged the
letter, but would only say that Enron remains
University of Buffalo School of Pharmacy and
Pharmaceutical Sciences has created a master's
degree in the arcane field of "pharmacometrics"
to meet growing demand in the drug industry.
Pharmacometrics uses data analysis to examine
factors that determine patient exposures and
responses to drugs. Though the Buffalo, N.Y.,
school has offered a doctorate degree in this
field for 30 years, it only recently created a
one-year master's program.
Jusko, professor of pharmaceutical sciences,
says that he gets weekly calls from several
major drug companies, which are looking for
graduates with this background. Starting
salaries range from $55,000 to $80,000.
executives expect business conditions within
their companies to improve in the next six
months. But they aren't as optimistic about
hiring, concludes a new survey of more than 145
senior managers by
the Broadmoor Group, a Dallas
the surveyed retail executives say business will
pick up at their companies in the next six
months. Results also were strong in other
industries: 90% of financial-services
executives, 80% of energy/utilities executives
and 80% of automotive executives also expect a
pickup in business.
none of the surveyed retail and energy/utility
executives expect hiring to increase in their
companies, the study found. Only 31% of
financial-services executives, 20% of automotive
executives and 16% of telecom executives are
optimistic about hiring at their companies
within the next six months.
Federation of Fly Fishers is casting for an
11,000-member nonprofit seeks to enhance the
sport of fly-fishing through conservation and
education. It educates people about casting,
fly-tying and flies, and works with
environmental groups to help preserve natural
fisheries. It hosts an annual fly-fishing show;
the next one will be in August in Livingston,
Mont. Its 1,000 certified casting instructors
teach less-experienced anglers the sport's fine
executive director will lead a staff of six but
also needs to energize volunteers, says Greg
Pitts, the group's president. The new hire will
be based in Bozeman, Mont., and earn a salary in
the mid-to-high five figures, he says.
you looking for someone who can tie his or her
would be a bonus. What we are really looking for
is someone with a nonprofit background who has a
passion for outdoor environmental issues."
tests will the executive director face?
want to grow in terms of membership, make our
organization more visible in the press and other
areas, and increase our funding capacity."
special perks might lure someone to the job?
your job located among some of the finest
fly-fishing in the world is one of the best
perks we could offer... Some of the best fishing
in the lower 48 will be within a two- or
are you hoping to reel someone in?
hoping to have someone on board within 60
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