Indeed, opening arguments by the defense hinted at the existence of nary a wart in Lay and Skilling's character--or even their management of Enron.

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In a statement, its management board said it "took note of the friendly character of this offer" and would meet again to give its opinion, following a report on the bid by independent analysts.

BBC: Club Med investors in takeover bid

The careful, bland, risk-averse, character-free character of its on-air product is a direct result of a leadership-by-committee management culture.

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