PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: RON BL who wrote (217743)	1/12/2002 8:47:26 PM
From: Arthur Radley	Read Replies (5) of 769667

The evils of government and those scandalous Democratics that want to "start a witch hunt" that the Repubicans "now" think the nation doesn't want. Did I hear something about millions of dollars being spent to look into Clinton's sex life as opposed to thousands of American citizens losing their entire retirement savings when Kenny Lay was doing the following... lying to his employees... Lay touted company’s stock to employees just before fall ASSOCIATED PRESS WASHINGTON, Jan. 12 — In a pair of e-mails to his employees in August, the chairman of now-bankrupt Enron touted the company’s stock and declared that the energy trader giant’s growth “has never been more certain.” ‘It appears that you misled your employees into believing that Enron was prospering and that its stock price would rise.’ — REP. HENRY WAXMAN, D-CALIF. Letter to Lay “OUR PERFORMANCE has never been stronger; our business model has never been more robust. ... We have the finest organization in American business today,” Ken Lay said in an Aug. 14 e-mail just two months before Enron’s long-hidden financial problems surfaced. In an Aug. 27 e-mail, Lay announced the details of an employee stock option program which spoke of “a significantly higher price” for Enron stock in the future. Selling for $37 a share in August, Enron stock now sells for 68 cents. The stock was at $83 a share a year ago. “It appears that you misled your employees into believing that Enron was prospering and that its stock price would rise,” Rep. Henry Waxman, the ranking Democrat on the House Government Reform Committee, said in a letter Saturday to Lay. Waxman released the e-mails along with the letter to Lay, whose political donations along with those of other Enron executives have made the company President Bush’s biggest financial supporter through two governor’s races and the presidential election. " Here Lay is touting the company stock, while at the same time he and 28 of his henchmen were dumping over ONE BILLION dollars of their holdings in Enron stock.

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