 This lasted until April 1994, when KP discovered a $350 million "accounting glitch," and assigned responsibility for the glitch to one of its managing directors, Joseph Jett.KP (and its corporate parent, General Electric) made sweeping cutbacks in their trading operations as a result.Both Carney and Malcolm—neither of whom had anything to do with Jett's accounting trickery—were out of jobs, and they went their separate ways.