On this day

February 26, 2002

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

Historical Context for February 26, 2002

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

Notable Deaths

Lawrence Tierney

2002Lawrence Tierney, American actor (born 1919)[†]

Lawrence James Tierney was an American film and television actor who is best known for his many screen portrayals of mobsters and "tough guys" in a career that spanned over fifty years. His roles mirrored his own frequent brushes with the law. In 2005, film critic David Kehr of The New York Times described "the hulking Tierney" as "not so much an actor as a frightening force of nature".

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Headlines from February 26, 2002

Panel to Hear The Variations On the Theme Of Enron's Fall

By Richard W. Stevenson and Richard A. Oppel Jr

Enron Corp's former chief executive Jeffrey K Skilling is scheduled to appear before Senate Commerce Committee on Feb 26 and will no doubt be subjected to intense, skeptical questioning about his role in company's collapse; Skilling, in House subcommittee testimony, portrayed himself as unaware of details of financial arrangements central to Enron's collapse and as supporting subordinates who brought their concerns to him; vice president Sherron S Watkins, who raised questions about transactions at time Skilling resigned last August, is also scheduled to appear before Senate committee; she testified to House subcommittee that Skilling was aware of details of transactions and that he had power to keep Enron's board in dark about what was happening; her account is likely to be supported by friend and ally in Enron's internal wars, president Jeffrey McMahon, who is also scheduled to appear before committee; McMahon has already told Congress that he confronted Skilling nearly two years ago about conflicts of interest in Enron's finances--account disputed by Skilling; photos (M)

Business/Financial Desk1182 words

At Enron, Lavish Excess Often Came Before Success

By This story was reported by Neela Banerjee, David Barboza and Audrey Warren and Was Written By Ms. Banerjee

Enron Corp for years thrived on spending big, and even as late as October, with warnings of financial problems, no one at Enron saw any reason to change; company set aside $1.5 million for Christmas party at Enron Field hoping to match sumptuous gatherings of earlier years; only in mid-November, when ruined Enron was headed for bankruptcy and trying to sell itself Dynegy, was celebration called off; former employees say company's spending reflected go-go corporate culture in which top executives cast traditional business controls by wayside; photos (M)

Business/Financial Desk1508 words

When Humans Became Human

By John Noble Wilford

Article on disagreement that continues among scientists over when, where and how anatomically modern humans became fully human in behavior as well as body and when and where human culture was born; tradition has held that modern behavior began 40,000 years ago, when Homo sapiens moved into Europe, but some researchers point to several recent discoveries in Africa and Middle East that show more gradual evolution of modern, non-Eurocentric behavior; photos; timeline; maps (L)

Science Desk2574 words

On the Path to Fame, Butler Takes a Detour

By Lena Williams

New York City high school basketball star Niesha Butler has fallen out of favor with Georgia Tech, after college career marked by injury, suspensions and problems with coach Agnus Berenato ended abruptly when Butler quit team and offered no explanation; career traced; photo (M)

Sports Desk1463 words

In Manila, Trading Words Over Rates

By Wayne Arnold

Clubby Philippine banking industry is pitted against central bank governor Rafael Buenaventura, who has accused some bankers of breaking promise to lower their interest rates in step with cuts in benchmark rate, rate at which central bank lends to them; many banks are still charging loan customers as much as 20 percent while overnight rate is 7.5 percent; while Buenaventura says bankers agreed to keep lending rates no more than five percentage points above yields on government three-month Treasury bills, now about 7 percent, executive director of bankers' association, Leonilo Coronel, remembers it differently, saying 'there is a gentleman's agreement, but it covers prime clients without any weaknesses'; Buenaventura says bankes are being 'intellectually dishonest'; analysts have tended to side with banks, saying banks are in no position to ease credit terms; photo (M)

Business/Financial Desk552 words

Argentine Government Says It Can't Pay Its Workers

By Larry Rohter

Argentine government says it cannot pay full monthly salaries of more than half million government employees who are expecting to be paid this week; says that because of worsening economic crisis, tax receipts plummeted 19 percent in January and may fall another 12 percent this month; Pres Eduardo Duhalde's decision has infuriated government employees and civic groups that have been leading street protests in Buenos Aires against austerity, not least because of its timing; Duhalde raised his net salary and those of other top officials by 13 percent to maximum permitted by law, $1,500 per month; Rodolfo Daer, leader of main labor confederation, warns tht any move by government to withhold or delay pay of government workers could 'set off a big explosion'; Argentine Research, economic consulting firm, says at very least, 'the government will confront a complicated week of political negotiations' and that any 'economic recovery is highly unlikely in the short run'; Duhalde says he favors 'special one-time tax' on corporations to close government's cash gap; photo (M)

Business/Financial Desk761 words

BUSINESS DIGEST

By Unknown Author

Former Enron Treasurer Said to Cooperate in Inquiry A senior official from Enron's finance division, himself a subject of the criminal inquiry into the company's collapse, has begun cooperating with federal officials, people who have been briefed on the situation said. Ben F. Glisan Jr., Enron's former treasurer, who played a central role in the establishment and operation of a byzantine series of affiliated partnerships, has offered information and evidence to both criminal and regulatory investigators, these people said. Government officials are said to consider Mr. Glisan a key participant in the demise of Enron. [Page A1.] A partnership managed by Andrew S. Fastow, the former chief financial officer of Enron, bet money on a deal that did not turn out well, then returned the investment to Enron. [C7.]

Business/Financial Desk611 words

Closing the Gender Gap Without Much Conviction

By Anne Midgette

Anne Midgette Critic's Notebook column reviews two concerts of women's music: recital by pianist Jenn Lin and inaugural performance of pianist and composer Beata Moon's self-named music ensemble, conducted by Sarah Ioanides; photos (M)

The Arts/Cultural Desk722 words

Struggling College and Columbia Join Forces to Train Diplomats

By Karen W. Arenson

Columbia University teams with Hostos Community College, one of weakest links in CUNY system, to try to increase number of Hispanics and other minority-group students going into Foreign Service; unlikely pairing enrolls 15 people at Columbia's School of General Studies, on scholarships, to earn bachelor's degrees and then master's degrees at School of International Studies; Repr Jose E Serrano arranges program with federal funding (M)

Metropolitan Desk796 words

World Business Briefing | Asia: Japan: Trade Surplus Expands

By Ken Belson (NYT)

Japan's trade surplus expanded in January, first rise in 19 months, as imports fell by more than 9 percent; surplus was 188 billion yen ($1.4 billion), reversing deficit of 96 billion yen year earlier; exports fell 1.8 percent; surplus with US rose 14.9 percent (S)

Business/Financial Desk87 words