News briefs (Jan. 28, 2002)

By
|Canadian HR Reporter|Last Updated: 02/21/2002

ENRON COLLAPSE PROMPTS U.S. PENSION LAW REVIEW

Washington, D.C. — U.S. President George Bush’s administration is launching a review of retirement plan regulations in the wake of the collapse of Enron Corp. In December, the energy firm filed the largest bankruptcy in U.S. history. This month, the government launched a criminal investigation of Enron that will determine if the firm broke laws by deceiving investors — including employees whose retirement plans were hurt when company stock included in their plans plummeted but they were barred from selling it — by hiding severe financial problems.

THREE-YEAR UNEMPLOYMENT HIGH