July 2002 Vol.5, No. 6 Contents The Majority: Unknowing, Unaware and Unconcerned by John Ross Schroeder Restoration: Greed Is the News of the Day by Darris McNeely Is Britain Rediscovering the Commonwealth? by Melvin Rhodes Ever Increasing Crime--Will It Ever End? by Graemme Marshall A Deadly Epidemic by Cecil E. Maranville In Brief...World News Review by Bill Eddington, Cecil E. Maranville, Darris McNeely, John Ross Schroeder and Jim Tuck This Is the Way... When the Walls Come Tumbling Down by Robin Webber July '02 Main Restoration: Greed Is the News of the Day Darris McNeely In the parable of the unjust steward Jesus said, "The sons of this world are more shrewd in their generation than the sons of light" (Luke 16:8). Looking at some of the recent spectacular business failures in the American economy reminds me of this biblical story of a businessman who let his brilliant talent become tarnished by greed and power. Last November it was Enron, the Houston, Texas, based energy company, which collapsed almost overnight when accounting fraud overestimated profits by $600 million. The stock drastically dropped in value, thousands lost jobs and millions of dollars were lost by investors both large and small. Arthur Andersen, Enron's auditor, lost business and credibility when it was revealed that documents were shredded to cover up major bookkeeping mistakes. Andersen was one of America's largest and most respected firms. Its fall is part of a mounting credibility gap spreading over much of corporate America. In late June WorldCom, the second-largest long-distance company in the United States admitted that the company had claimed regular operating expenses as capital expenses over five consecutive quarters in 2001 and 2002. This allowed the heavily indebted company to overstate earnings by $3.8 billion, artificially inflating the company's value. The U.S. Justice Department will launch a criminal investigation against WorldCom, and the company is laying off 17,000, or 28 percent of its staff. Read the full article at www.wnponline.org/wnp/wnp0207/restoration0207.htm Related Information on UCG Sites: Table of Contents that includes "Greed Is the News of the Day" Other Articles by Darris McNeely Corruption: _Increasing Poverty In Today's Technological World? _'Mr. Smith' Takes on Washington _African Debt--Is Wiping the Slate Clean a Good Idea? _The World Is Watching Nigerian Elections _Ghana at 50 _Lessons From the Titanic _Morality in Government: A Worldwide Crisis _Corruption: A Way of Life for Much of the World _The Scourge of Corruption _An Overview of Conditions Around the World - Sep/Oct 2002 _Dictatorships: Why Are They So Common? Money: _Prepare Like Joseph Did _Avoiding Financial Black Holes _Seeking God's Blessings _Teach Your Children About Finances _The Power of Compounding _The Greatest Inheritance _Introduction (MF) _Money in Marriage _What Is Money? _The Eye of a Needle _Determining Your Net Worth _The Right Use of Money _A Buying Self-Test _Keys to Successful Money Management _Financial Security and Peace of Mind _Family Finances: a Biblical Guide _Do You Know How to Use a Credit Card? _God, Money and You _The Debt Trap: How Do I Get Free? _'Some Things Are Better Than Money' _Money & Teens _Where Lions Stand Guard _Manage Your Family Finances the Bible Way _Money Problems _Credit Counseling Services _Managing Your Finances _A Source of Timeless Financial Advice _Making the Most of Your Dough _God and Mammon _Managing Your Finances in Tough Times: Five Steps You Can Take _Lessons From Survivors of The Great Depression U.S. economy: _The Achilles' Heel of Global Banking _Global Economics: From Kosovo to McDonalds _Deutschland AG Versus Corporate America _World News Review Dec 2000 _World News Review Aug 2001 _Hope Beyond the Headlines _Mortgage Bubble About to Burst? _A Looming EU-U.S. Trade War? _World News Review July 2004 _U.S. Troop Withdrawals -- What Do They Mean? _The Source of America's Bounty _A Downsized Lifestyle Is Coming - Will You Make the Adjustment? _When the Gas Pumps in Europe Run Dry _The Housing Bubble: Making of a Banking Crisis? _Gross Domestic Product: Is It the Measuring Stick of Success? _Energy Costs, the Mideast and Illegals Are Americans' Biggest Concerns _Are Things Really Better Than We Think? _World News Review January 2007 _Is America in Financial Decline? _Generation Debt _Are We Living in a "9/10" Economy? _What's Behind the Falling Dollar? _World News Review February 2008 _World News Review March/April 2008 _Coping With the Current Housing Crisis _The Wealth of a Nation _"In God We Trust" _What Will the Next President Face? _Farewell to America as a Financial World Power _Mama Told Me... _Prayer for Success _Waves of Destruction _The Meaning of the Mortgage Meltdown _Map: Captivity Routes _The Global Economy's Uncertain Future _Sept. 11 Aftermath Highlights U.S. Strengths and Weaknesses _When Do I Get a Break? _Our World Is Rapidly Changing - in Ways Foretold by Bible Prophecy _World News and Trends - November/December 2006 _What Will It Mean for the West if Radical Islam Triumphs? _Are We Living in a '9/10' Economy? _Coping With a Growing Economic Crisis _World News and Trends - May/June 2008 _The Growing Economic Crisis: A Biblical Perspective _World News & Trends - November/December 2008 _Dealing With Fear _When Nations Fall _Hands of Confusion _Could the Dollar Fall? _Vantage Point _America's Hope for Recovery: Real or Merely an Illusion? _An American Thanksgiving _Discerning This Time Search Our Site Key Subjects Index General Topics Index Biblical References Index Good News Magazine Index Booklets and All Literature Index Home Page of this site