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FOR IMMEDIATE RELEASE
JULY 24, 2002
5:00 PM
CONTACT:  Working Group on Corporate Accountability
John Cavanagh of the Institute for Policy Studies, 202-297-4823 (cell)
Charlie Cray of CitizenWorks, 202-497-3763 (cell)
Steve Kent of Kent Communications, 845-424-8382 or 914-589-5988 (cell)
Abby Luby of Kent Communcations, 914-528-0743 or 914-671-9590 (cell)
Compromise Corporate Reform Bill Does Not Go Far Enough to Reassure Investors, Analysts Fear
 
WASHINGTON - July 24 - News Advisory:

EDITORS: Interview opportunities for July 24-26, 2002

WHAT: The Working Group on Corporate Accountability, a coalition of some 120 NGOs, labor, environmental and civic organizations, has assembled informed experts who can analyse the corporate reform bill now emerging from committee, with a vote expected Thursday. Experts worry the final bill will be too weak to restore public confidence. It stiffens criminal penalities and offers some auditing reforms and whistleblower protections. But it ignores such basic issues as tax havens, pensions, reporting of stock options, corporate governance, and energy company practices, and even auditing reforms are weaker than in the Senate version.

WHO: These interview resources include members of Congress, laid off WorldCom and Enron workers and leading independent experts who can discuss technical and political dimensions of the emerging compromise bill. They include include, among many others:

Rep. Maxine Waters (D-Calif.) -- named to the House Senate conference committee now working on the reform bill and on the the Financial Services Committee, she is the lead sponsor of the Enron Employee Pension Recovery Act.

Rep. Lloyd Doggett (D-Texas) -- member of the House Ways & Means Committee and a longtime proponent of reforming corporate tax shelters.

Rep. Dennis Kucinich (D-Ohio) -- a leader of the Progressive Caucus and outspoken advocate of stronger corporate reform.

Rep. Jan Schakowsky (D-Ill.) member of Financial Services Committee and Progressive Caucus, chief deputy whip

WorldCom workers across the U.S. via Kathy Roeder of the AFL-CIO, which is working with the overwhelmingly non-union workers laid off by WorldCom and Enron.

Ralph Estes -- former Arthur Anderson partner, expert on accounting reform , professor emeritus at American University author, Tyranny of the Bottom Line, Why Corporations Make Good People Do Bad Things, http://www.ips-dc.org

Ralph Nader -- former Green Party presidential candidate, consumer advocate and founder of Citizen Works, http://www.citizenworks.org

John Cavanagh -- director, Institute for Policy Studies, expert on globalization, can comment on options reporting regulations, analogies to 1929 market crash, co-author, Global Dreams: Imperial Corporations and the New World Order and A Field Guide to the Global Economy, http://www.ips-dc.org

Ed Mierzwinski and Alison Cassady -- Consumer Program Director and Research Director, respectively, US Public Interest Research Group, http://www.enronwatchdog.org

Barbara Roper and Travis Plunkett, Director of Investor Protection and Legislative Coordinator, respectively, at the Consumer Federation of America which has closely tracked reform legislation. http://www.consumerfed.org

Tom Devine, Government Accountability Project (GAP), and Beth Daley at the Project on Government Oversight (POGO), both experts on whistleblower provisions of corporate reform legislation. http://www.whistleblower.org

WHEN & WHERE: These and many other interview resources are based in major cities, can conduct interviews via phone or remote, or in-studio. They are available now. For more information or to book interviews, call the contacts above.

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