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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: inesa who wrote (46199)	1/11/2002 2:04:00 AM
From: stockman_scott	of 65232

Tonight on MSNBC I saw some interesting profiles of the current Enron Management team... Ken Lay (the CEO and Captain of the ship) is still living like a king --> he owns the entire penthouse floor of a famous Houston high rise...He only eats at exclusive restaurants and golfs at private clubs. I wonder how he sleeps at night...? I haven't heard that he's admitted to anyone that Enron's got a serious problem. Mr. Lay sold off over $100 Million in stock options in the last few years while most of his employees didn't enjoy such a huge windfall (that may have been illegal since hundreds of millions of Enron's profits never existed). The same MSNBC show had a segment where several Enron employees testified in Washington about losing virtally ALL of their 401-k's --> some of these folks are well over 60 and have lost hundreds of thousands (and even millions of dollars) since they couldn't sell the stock at an ideal time (like Mr. Lay and his management team could)...I have a hunch that Ken Lay knows MUCH MORE than has been revealed and the buck stops with him. If fraud and criminal wrongdoing can be proven then he should be forced to return ALL of his gains from the illegal stock sails, spend time in prison thinking about what he has done AND do some serious community service. Many CEOs and executives from around the country will closely be watching the Enron investigations...Lets hope Mr. Lay and his team are held accountable for their actions. Congress needs to change the way 401-k's are administered too. A lot can be learned from this tragic company's situation. WAS MR. LAY A GOOD STEWARD OF THE RESOURCES HE WAS SUPPOSED TO MANAGE FOR ALL OF HIS STAKEHOLDERS...??? He made out like a bandit BUT he ruined the careers and retirement possibilities for thousands....What a legacy he is leaving. Just my views. Regards, Scott

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