Bush relaxes in Kennebunkport

KENNEBUNKPORT, Maine, July 5 (UPI) -- President George W. Bush and the first lady were relaxing Friday at his parents' vacation home in Maine before he travels to New York on Tuesday to speak to a Wall Street gathering on the WorldCom business scandal and corporate responsibility.

At Walker's Point, the 6-acre family compound in Kennebunkport, the first couple was to celebrate his 56th birthday Saturday, with help from his parents, his brother Marvin, sister Dora and other family members, including his twin daughters.

No public events were scheduled. White House Spokesman Ari Fleischer said the president and Laura Bush would most likely engage in a bit of swimming, fishing and maybe golf while at the compound.

"He's going to enjoy a lot of down time and family time and sports time," Fleischer said aboard Air Force while en route to Maine. "And he'll continue to have his intelligence briefings every day, of course.

"But beyond that, I think you can anticipate some quiet family time."

When not relaxing, Bush was expected to put finishing touches on the speech he was to deliver Tuesday to Wall Street executives in the wake of last week's disclosure by Clinton, Miss., -based WorldCom that it would restate $3.8 billion in earnings for 2001 and the first quarter of this year. The company said certain transfers from line cost expenses to capital accounts during this period were not made in accordance wioth generally accepted accounting principles.

The WorldCom scandal follows that of Houston-based energy giant Enron Corp., which was forced to declare bankruptcy in December, and the recent conviction of accounting firm Arthur Andersen LLP on a charge of obstruction of justice.

"He's got a draft of the speech ... and he'll continue to work it, and then he'll pick up the phone and talk to anybody as he deems necessary," Fleischer said.

The visit to Kennebunkport is Bush's first since the Sept. 11 terrorist attacks on the World Trade Center in New York and the Pentagon. Work breaks since the attacks have been taken at either Camp David in Maryland or at the president's ranch in Crawford, Texas.

The first couple, together with some relatives and friends, flew to Sanford Regional Airport in Maine from Andrews Air Force Base after departing the White House by Marine helicopter.