Today was the deadline for Arthur Andersen to plead guilty to obstruction of justice charges for shredding Enron documents. They refused, and they’ve been indicted. if they lose in court, they’ll be barred by the SEC from auditing public companies. If that happens, it’s all over for them. Just the fact that they’ve been in legal trouble has already cost them several big clients. Andersen was trying to find someone to buy them out, but couldn’t find any takers, which makes sense. Would you buy the company knowing that there’s a good chance you can just poach their best employees and clients as the company circles the drain?