DePaul University professor of finance William Poppei says he teaches students to "decipher lies" in financial statements and search out revealing information buried in footnotes. Accounting giant Andersen, based here, has come under fire for its audits of the company whose stock price has plummeted from more than $80 to less than $1 per share.

"This just won't hit Arthur Andersen, but all of the Big Five accounting firms," Poppei says. "It even could move down to the Tier-Two and Tier-Three companies, and that could have an effect on real estate."

It certainly will have an effect on the economy, Poppei says, though he is unsure how Enron's nosedive will play out. "I think Enron will pull us down in ways we haven't thought of yet," he believes. Also, changes in accounting rules could make for even fuzzier corporate earnings pictures, Poppei warns.

Meanwhile, Poppei is concerned about the future of Elk Grove Township-based United Airlines. "The price of flying has risen," asserts Poppei, when the value of the traveler's time spent at the airport is added to the ticket cost. "The marginal flyer is going to drive. If (UAL) fails, it has a major impact on Chicago."