Yes, I've seen the movie "Wall Street," but the difference here is that ENE wasn't some pink sheet biotech or whatever, I mean this outfit had blue chip status. It's just tragic, not just that the stock is nearly worthless, but what happens with regard to any company pension plans, medical coverage, etc.? What about the retirees? At least there's COBRA and other programs that can help some. Undoubtedly, thousands of people worked there for years and cherished the job security and the comfort of working at a large, stable company. And, yes, certainly, many on the inside had to know that this was just going to fall apart. That it all happened so fast just leaves me dumbstruck.
PB |
