- Man accused of setting fire to Delta bar; posted photos of it burning on Facebook (9/17/17)5
- Owner of Mary Jane Burgers & Brew in Perryville to open new culinary concept in Cape (9/15/17)3
- McClure man accused of leaving children in hot truck while gambling in casino (9/19/17)1
- New boutique store advocates for special-needs people (9/19/17)
- Retailer may come to Jackson; rezoning needed first (9/17/17)2
- Planet Fitness to anchor Town Plaza shopping center (9/18/17)2
- Mo. conservation agents help fight fires in western U.S. (9/15/17)
- Jury finds Harris guilty of murder, 3 other counts (9/15/17)4
- Former major-league slugger Darryl Strawberry to speak at La Croix (9/20/17)
- Young entrepreneurs add fresh ideas, unique offerings for area market (9/18/17)
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.