When Jeff Skilling took over as President and Chief Operating Officer of
Enron in June of 1990, he did so only after insisting that the company
convert from conventional accounting principles to a method preferred by
his former employer, McKinsey &Co.....
On Thursday (Oct. 8), nearly seven years into his administration, Gov. Bobby Jindal (R-Iowa, R-New Hampshire, R-Anywhere but Louisiana) rolled out a new accounting formula with an alarmingly familiar ring to it.
Jindal, like Skilling, is a McKinsey alumnus.
Commissioner of Administration/Surrogate Gov. Kristy Kreme Nichols announced that the state, instead of having a deficit of $141 million as claimed by State Treasurer John Kennedy, will suddenly have a surplus of $178.5 million, a gaping difference of $319.5 million.
Nichols: “I’m surprised the treasurer is not reporting this. The treasurer’s obligated to see that revenue available is reported to the public. The money is available, and it’s cash on hand. He should probably do a review of the accounts to ensure there are no more outstanding revenues he is not reporting.”Operating on the premise that she never has to explain, Nichols attacks anyone who disputes her policies or numbers. Jindal & Co. have skirted the edge between legal and illegal for so long that I hope they have crossed the line and someone or someones go to prison, and I don’t often say such a thing or say it lightly. If it's only one, I expect the one may not be Jindal. If the citizens of the state and their leaders ever have the will, it will take decades to repair the destruction wreaked by the Jindal maladministration on institutions and programs in Louisiana.
Kennedy: “The commissioner says the calculation has been inaccurate for years and it needs to be changed. They have to explain why we have been doing it wrong all these years and why the Revenue Estimating Conference is doing it wrong...I’m willing to listen”
Louisiana Voice has done brilliant reporting on politics in Louisiana, putting the local newspapers to shame.
