The ENRON Scandal Message Board

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Non-Tech : The ENRON Scandal

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To: Charles Tutt who wrote (90)	1/11/2002 2:23:31 PM
From: Mephisto	Read Replies (1) of 5185

Charles, Enron employees were forced to put Enron stock into their 401Ks, and they could not sell that stock. I believe they had to hold the stock until they were 55. The price of Enron stock closed below $1.00 yesterday so if you look at an Enron chart for the past year, you can see the enormous amount of their loss. Many large US companies force employees to put company stock in their 401K.. From what I've read in the past, the companies take this route because they do not have to pay taxes when the stock goes into the employee's 40lK. The congressional hearings will look at this issue. We may learn more about this practice and its implications form SI posters.

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