ANDERSEN REFUSED A PROBATION DEAL.

Discusses accounting firm Arthur Andersen's refusal to consider deferring prosecution by publicly acknowledging that it had illegally destroyed documents in the Enron investigation. Reasons for the decision by Andersen officials; How the U.S. Justice Department indictment has led to defections by clients and partnerships, putting Andersen's survival at risk; White collar-cases where deferred-prosecution agreements were made; Outlook for Andersen as it names a new management team.