Sunday, May 28, 2006


People would believe a doctor's medical advice, but they can
get second opinion. On the other hand, if it is the CEO who's
to advice the employees to buy stocks of the company, most likely
they are also going to believe his words without ifs and buts.
But the Enron chief executives lied and for those lies,they are
now convicted that would send to lifetime imprisonment.

Read the entire story here.

Excerpt of the news in case the link does not work.

Former Enron employees shed no tears for Lay
Houston -- Enron Corp. employees who lost their jobs or saw their life savings wiped out in the energy trader's spectacular collapse found bittersweet relief in the convictions of former chief executives Kenneth Lay and Jefferey Skilling.

And some who had been willing to give Lay the benefit of the doubt when he professed innocence to charges of conspiracy and fraud found that his own words during trial turned them against him.

Ashmore, 30, knew Lay as a philanthropist before he knew him as a boss. When he was in high school, Lay gave him a scholarship, and later, a job at Enron. As Lay's criminal trial neared, Ashmore said he was conflicted about his former boss who had been so good to him.

But the trial changed all that.

"The most damning thing," Ashmore said, "was when Ken Lay took the stand and was so combative. I thought, man he just slipped his own noose."

Ashmore said he was shocked to hear Lay testify that "there's only so much he could do for the employees."

Lay was referring to the fall of 2001, when he encouraged workers to buy more Enron stock while selling off his own. Enron's eventual collapse vaporized $2.1 billion in company pension plans and retirement savings, along with 5,600 jobs and $60 billion in company market value.


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