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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,
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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
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The Texas
Commission l
date for Class
campaign mal
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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
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