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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (March 21, 2002)
©2002 Ernst & Young up 4B Thursday, March 21, 2002 Despite cutbacks, Lonely Planet to lay off employees OAKLAND, Calif. (AP) — Guidebook publisher Lonely Planet is laying off 15 percent of its work force, mostly in the United States, because of slumps in travel and the economy. To forestall a reduction last fall, the com pany had offered its 500 workers a chance to wander the world on reduced-pay leave. About 100 employees took 15 percent pay for up to five months and now may lose jobs they were promised they could keep. “It’s something we’re trying to sort out how to handle,” Lonely Planet co founder Tony Wheeler said. The company saved more than $515,000 in payroll, but the leave pro gram wasn’t enough. Most of the cuts will come from the U.S. operation in Oakland, which employs 150 editors, mapmakers and designers. A handful of the 75 jobs will be lost at the London offices. Over several months the company will consolidate at its Melbourne, Australia, headquarters. Wheeler said travel jitters after September’s terrorist attacks, a global economic slowdown and the high cost of doing business in the San Francisco Bay area led to the cuts. Industry analysts said last fall’s losses were too much for small publishers such as Lonely Planet to absorb. “There’s a lot of competition out there for those guides,” said Stephanie Oda, a co-publisher of Subtext, a publishing newsletter. Work., . Work., . Work., . Why have, . 0 Leisure. Leisure. Leisure. not both? FORTUNE* What does a job at Ernst & Young give you? The best of both worlds. After all, 100 BEST the focus of our business has always been its people, and we are devoted to helping COMPANIES § TO WORK FOR ^ them realize their career goals while encouraging their personal aspirations. The result is you’ll be challenged, but you’ll also be rewarded. Maybe that’s why we’ve been named one of the “100 Best Companies to Work For,’’ four years in a row. So why not bounce on over and see for yourself? ey.coi n/us/careers H Ernst & Young From thought to finish: NATION THE BATTALION Andersen pleads m innocent HOUSTON (AP) - Accounting firm Aril® Andersen pleaded innocen Wednesday to charges it shrei ded documents and deletei computer files related to Enro Corp., and was granted ik quick trial it had been seek® “I plead not guilty,” Cck Frauenheim, managing partnc of the Houston office for ft Chicago-based firm, told U.S. magistrate. The grand jury indictme: unsealed last week accused ti; Big Five firm of obstruction justice. U.S. District Jud: Melinda Harmon set a trial da; of May 6. Andersen attorney R® Hardin blasted the goven ment’s case and said a speed trial would help the firm sum and salvage its reputation. “An indictment is just; bad as a conviction in tens of the company’s reputat. unless we get a quick trialaa' vindication," he said. He said the indictme; ended talks with tl Securities and Exchant Commission over a $500mi lion settlement to compensi: investors who suffered t; losses when Enron collapse last year. “They wanted Artk Andersen to roll over, as; they wanted its employees!) roll over." Hardin said prosecutors. “Enron is tl object of their investigatioi They were willing to taketli company down to get there a An indictments just as bad as a con viction in terms of the company's repu tation unless we get a quick trial and vindication. — Rusty Hardin Andersen attorney u The Texas Commission l date for Class campaign mal "damn," "pim | childish for a s decide individ candidate sho tions should b Election Con rent guideline senate and giv to decide if ca r lation of a can There is no j l political speed example in its by what it dee qualification if Sarandis' act anteed by the supervision. As adults, stu common ethic: body should b support withou Perhaps in tf individual stud< when deciding personal camp, iem if he is no dates are expec mission should THE Managing Edit Opinion Edit News Edit News Edit - fte Battalion '»il include the a 'Keives the right :f| l i n person at 0 Wiled to: 014 Re ^-Ull. Fax: The firm also is losing high- profile clients. BB&T Corp-. one of the nation’s largest! sumer banks, said Wednesday^ has dropped Anderson after^ years as its independent audiW Houston-based energy market® Dynegy Inc. dropped Andersel on Tuesday after 15 years. Samuel Buell, one of ^ federal prosecutors on thecasj said the firm was respi for its problems. “I totally agree that this indictment! somehow the death penalty Arthur Andersen,” Buell sai Before the arraignment, L.'.i - ,, dreds of Andersen employe® ijv stood across from the fedet* 4 c courthouse chanting, “Sa'j Andersen!” and “Drop indictment! ” “I was not involved !• |{ Enron and I bet you couldn 1 ’ find six people here #pSte of tim were,” said Chariot!) Williams, a 21-year Andersen employee who, like *'E. wi,h <h°usaii wore a black T-shirt that “I Am Arthur Andersen” 1(i 'Pposed to be orange letters. “We’re if necessary. The company also took on 1 e hope of making full-page advertisements i 81 Piping others disapi ? tying mule! leading newspaper Wednesday, headlined “w ^ idea of help^n! we’re fighting back.” It calk 1 Jtying mo^ the government’s action “j furniture so the' tragically wrong indictment® 1168 party, it's not cl our whole firm.” Internal company email 1 have urged employees to sit their anger and pride, and tit! have responded. Letters, email and phone calls have been sf f! to the U.S. Capitol, and similar to Houston’s tookplai in Chicago, New W Philadelphia and Washington The indictment again' Andersen is the Justin Department’s first related to collapse of energy trader EnrOj —. which declared bankruptcy ! December amid questions abo 1 ® its accounting practice; Andersen had been Enrofllj, auditor for 16 years. Event is This I* 5 to participate "’'tiunity to stay until the lights go $ '°fears my^fdend- U P to do lok r 6 ^ been 'ft rh 7 d for |0 " n ^ s could c liA the mterio 10011 633 't has lost its a i things Tfcetofmj, n *0 article: