Wednesday, March 16, 2005

 

The Shaw Group's Real Financial Performance

Inside word is that officials of this company that has had serious business problems are talking about the company's "cooking of the books" to make its financial situation look much better than it really is. Not surprising, considering the failure of the company to win major new contracts in its Environment & Infrastructure division, especially from the Department of Energy, where it makes its greatest profits. Personnel turmoil is rampant, with many unhappy and nervous senior people working hard to get out, including the Wash.,DC head of DOE business trying to get a position in the Department of Energy, despite having a Democratic background. Time for the Securities and Exchange Commission to discover another Enron and WorldCom-type corporate scandal in this bastion of good old southern boys playing games in Baton Rouge.
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