Harken Energy
In 1990, the US energy company Harken Energy entered into a business partnership with Harvard University which ultimately became the vehicle by which Harken Energy could transfer $20 million in debt to Harvard. Though made public, investors did not directly equate the transferred debt as a decrease in equity, allowing the share value of Harken stock to rise, and senior Harken managers liquidated their shares.
It is seemingly identical to the modus operandi of most recent US Corporate accounting scandals, though a Bush spokesperson denied any connection to Enron's practices, citing that Harken did not conceal its partnership with Harvard.
George W. Bush formerly held several top positions at Harken Energy, primarily as Chairman and CEO.
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Referenced By
2002 State of the Union Address | Accountancy scandals | Accounting scandals | Baby Bush | Bush 43 | Bush Junior | Bush administration | Corporate accounting scandal | Corporate accounting scandals | Dubya | Environmentalism (Critique of George W. Bush's politics) | Environmentalism and George Bush | G. W. Bush | G. W. Bush administration | GW Bush | GeorgeWBush | George Bush, Jr. | George Bush Jr | George Bush Jr. | George Dubya | George W | George W. Bush | George W. Bush (Environmentalism) | George W. Bush administration | George W Bush | George Walker Bush | Gerorge W. Bush | President George W. Bush's anger and resolve | Shrubya
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