- Cape man gets 8 years for robbery, his first offense (12/7/16)8
- Post-election taunts reported at Jackson schools (12/2/16)28
- Abuse suspect tries to take cop's gun; officer zaps him with Taser and punches his face (12/7/16)3
- Man sentenced to 103 years for murder of Cape woman (12/6/16)4
- Cape may allow residents to keep chickens; residents at meeting push for measure (12/6/16)33
- Burglary suspect apprehended inside Jackson garage (12/4/16)
- Poplar Bluff man accused of enticement, child porn in Scott County sting operation (12/4/16)
- Group seeks to create a neighborhood park on Cape Girardeau's south side (12/7/16)14
- Lt. Gov. Kinder weighs in on Trump's win, his future plans (12/4/16)13
- Cape police warn of 'Grandparent Scam' (12/4/16)
Arthur Andersen CEO quits
CHICAGO -- Arthur Andersen chief executive Joseph Berardino resigned Tuesday, bowing to mounting pressure as a result of the accounting firm's role in the Enron scandal.
His announcement came four days after former Federal Reserve chairman Paul Volcker urged top management to step aside so he can install and head an independent board in a last-ditch plan to save the company.
Berardino disclosed his decision as Andersen partners, in internal company e-mails, stepped up pressure on him to quit. He said he would remain in charge until a successor is chosen.
"I felt I had to take this step today to put an exclamation point behind the voices of our people, to say that we are serious and we're a serious firm that deserves to continue here in the United States," Berardino told CNN.
Yet of the 89-year-old firm, he said: "We're in deep stress."
The key element of Volcker's plan is the dismissal of a federal indictment against Andersen alleging obstruction of justice for destroying Enron-related documents. The Justice Department has not said whether it would consider such a move.
Andersen has lost more than 70 clients this year and overseas affiliates have been bolting to rival firms. Industry experts are doubtful whether Volcker's plan or any other can prevent the firm from folding.