We should keep it in mind the points you mentioned:
"1. Creditors fired Lay.....he resigned "in cooperation" with the committee, and remained on the board long enough to arrange his
severance.
2. Creditors immediately installed Cooper......it was made to appear that they rubber stamped him, but any way you call it, he is
their boy.....and his 15 man goon squad is as well. Enron Corp is paying well over a million a month for their services plus their
expenses for what they are doing! Big bonus if they do it right, too.
3. The frightened old Board of Director resignations were announced immediately......these people cooperated for good reason....by
design or default they contributed to creating the demise.
4. Cooper & Company (of 15) are choosing the “new” Board of Directors. Does anyone believe that he will choose Directors with a
view to reduce the debt and save the existing company and common equity by any means possible? I don't!
5. McMahon has sold out. He has gone from saying "shareholders" to "stakeholders", and referring to a new company. His reward
is that he will one day be the new and genuine CEO when Coopers task is done.
6. Make no mistake......the creditors are running things.....They have the upper hand in Court, and they are running the company
and influencing the Enron tactics as well, IMO. We are on a hellbound train traveling at "light speed" to a nice clean conclusion
without a fair look at what really happened!
7. There is no way to stop what has been set into motion except to go into Court and say "not so fast, lets take a good look".
8. The immunized testimony of Duncan and Glisan (and hopefully others) will reveal some creditor dirt, IMO. Congress is looking
at this issue somewhat. But will these things come to light in time to influence the re-org plan to be submitted or its approval?
"Light Speed", right??
9. We need to move the Bankruptcy Court to slow down.....once re-org actually happens, it is over! "
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