On this day

January 27, 2002

Revisit the music, news, notable people, and historical moments connected to this date.

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Headlines from January 27, 2002

In a New World, a Puzzling Directive From the S.E.C.

By Gretchen Morgenson

Gretchen Morgenson Market Watch column on Securities and Exchange Commission's letter to National Association of Securities Dealers directing its chairman Hardwick Simmons to drop suit it had planned for file against member, Island ECN, that is violating securities law; says at issue is practice of Island, nation's top electronic stock trading network, to withhold from overall market access to its best bid and offer prices on world's most heavily traded security, Nasdaq 100 tracking stock; notes Island makes its prices on this stock acessible only to its paying customers, not to overall market; holds Island says it wants to get its customers' bids and offer into national market, but Intermarket Trading System is too slow for Island's fast-trading clients; says there is growing sense of unease among investors that SEC, under new chairman Harvey L Pitt, may not be investor protector that Enron era requires, and that view appears to be justified; photo (M)

Money and Business/Financial Desk607 words
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A Fog Over Enron, And the Legal Landscape

By Diana B. Henriques With Kurt Eichenwald

Legal scholars say fundamental question about sprawling Enron Corp scandal is whether it is case of strong laws being violated by bad people, or weak laws rendering such violations necessary; Richard C Breeden, former chairman of Securities and Exchange Commission, says if company this size, advised by top-tier accountants and law firms, could conclude that our laws permit some of what happened here, then our laws are inadequate; quandry is particularly acute in case of Enron's partnership called LJM2, because it seemed to thrive on arrangements that were actually intended to protect investors; photo (M)

Money and Business/Financial Desk2265 words
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INSIDE

By Unknown Author

Saudi Defends Arafat Saudi Arabia's top intelligence official warned that any effort by the United States to weaken Yasir Arafat, the Palestinian leader, would ruin prospects for peace. PAGE 8 In Argentina, Political Feuds For Argentines, whose economy has largely ground to a halt, infighting among members of President Eduardo Duhalde's party has further weakened their faith. PAGE 8

Metropolitan Desk121 words
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Music on My Birthday

Billboard 200

The Top 50 albums for the chart week of January 23, 2002, covering January 27, 2002.

  1. 1
    Album cover for Weathered by Creed

    Weathered

    Creed

    Last week
    1
    Peak
    1
    Weeks
    8
  2. 2
    Album cover for [Hybrid Theory] by Linkin Park

    [Hybrid Theory]

    Linkin Park

    Last week
    2
    Peak
    2
    Weeks
    64
  3. 3
    Album cover for Word Of Mouf by Ludacris

    Word Of Mouf

    Ludacris

    Last week
    3
    Peak
    3
    Weeks
    7
  4. 4
    Album cover for Silver Side Up by Nickelback

    Silver Side Up

    Nickelback

    Last week
    4
    Peak
    2
    Weeks
    18
  5. 5
    Album cover for Stillmatic by Nas

    Stillmatic

    Nas

    Last week
    9
    Peak
    5
    Weeks
    4

Historical Events

2002An explosion at a military storage facility in Lagos, Nigeria, kills at least 1,100 people and displaces over 20,000 others.[†]

The Lagos armoury explosion was the accidental detonation of a large stock of high explosives at a military storage facility in the city of Lagos, Nigeria, on 27 January 2002. The fires created by the debris from this explosion burnt down a large section of Northern Lagos, and created a panic that spread to other areas. As people fled the flames, many stumbled into a concealed canal and drowned. The explosion and its aftermath are believed to have killed at least 1,100 people and displaced over 20,000, with many thousands injured or homeless. The government of Nigeria launched an enquiry, which blamed the Nigerian Army for failing to properly maintain the base, or to decommission it when instructed to do so in 2001.

Historical Context for January 27, 2002

In 2002, the world population was approximately 6,337,730,342 people[†]