Doesn't he at least owe his former employees and the country and explanation...???
*If Mr. Lay is as innocent as he and his family claims he is then he should come forward and make his case...IMO, Hiding behind lawyers sends the wrong message. Mr. Lay may have made hundreds of millions of dollars and been voted into The Horatio Alger Association BUT did he deserve this...?? Has he really added a lot of value for all his stakeholders in an honest and ETHICAL way...?? What kind of legacy is he leaving...?? Can he sleep well at night...?? His former employees really want to hear from him and are having a tough time forgiving him. Former Enron CEO Kenneth Lay was the Captain of 'a Titanic in our economic system' and he needs to explain why the ship went down...we need to hear his perspective. Eventually The Justice Department and The SEC will. They have their ways to compell people to talk.
If Kenny Boy wants to ever be forgiven he needs to be a real man and speak out about what has happened. He CAN NOT claim that he was unaware of all of the illegal activity...Honesty goes a long way when you are trying to build OR re-build a reputation.
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Enron's Ex-Employees Disappointed Former CEO Kenneth Lay Refused to Testify
By KRISTEN HAYS
Associated Press Writer
Monday February 4, 6:09 am Eastern Time
HOUSTON (AP) -- Like so many other laid-off Enron Corp. (ENE - news) employees, Sue Nix had been looking forward to hearing its embattled former leader explain what happened.
Those hopes were dashed when former CEO Kenneth Lay decided against giving his first public statements about the collapse on Monday before two of the 11 congressional committees investigating Enron's downfall.
``I think it's a shame that he can't say anything,'' Nix, a former Enron accountant, said Sunday. ``I just feel like this is really letting everybody down now.''
Many former employees left jobless after the former energy giant's stunning collapse were forced to cancel ``Watch Kenny'' get-togethers and said they were disappointed that his public silence will continue.
``He owes us a public statement in a public forum and something that's not so legally crafted,'' said John Moore, who had worked for Enron since 1985. ``Why not just come out and tell the truth and get it over with? This is just legal maneuvering.''
Lay's attorney, Earl Silbert, sent letters to the House Financial Services Committee and the Senate Commerce Committee on Sunday that said the tone of investigations had become ``prosecutorial,'' and that he had advised Lay to back out of his voluntary agreement to appear.
Others expressed similar sentiments, wondering why Lay couldn't just ignore legal advice and make some effort to address the company's downfall and its devastating effect on employees, particularly those who lost 401(k)s loaded with Enron stock.
``We're not afraid to talk about how we were affected by it,'' said Rebekah Rushing, a former employee who is managing a fund to help former employees pay bills and mortgages. ``I don't understand why he can't go ahead and testify.''
Nix said workers still want an explanation from the man who assured workers that the company was strong even after it had entered its death spiral last year.
``Why did he lie to us and tell us everything was just great when it was not?'' she said. ``People can accept the truth. The constant lies are what is hard.''
Other former executives, including Jeff Skilling, former chief executive, and Andrew Fastow, former chief financial officer, were scheduled to appear Thursday.
Fastow will invoke his rights under the Fifth Amendment and will not answer questions on Thursday, Rep. Billy Tauzin said Sunday on ``Meet the Press.''
Ken Johnson, a spokesman for the House Energy and Commerce Committee, said Sunday that if Lay refuses to testify, ``he'll be subpoenaed like everyone else.''
The Securities and Exchange Commission is investigating the collapse and the Justice Department is in the midst of a criminal probe.
Lay also is being sued by employees and shareholders in a multitude of lawsuits filed against Enron officials, including several seeking money the executives gained by selling stock before the company crashed. Lay sold $101 million in shares from October 1998 through November last year.
Enron, once No. 7 on the Fortune 500, crashed last year amid revelations of questionable accounting practices and restated earnings that erased millions of dollars in profits dating back to 1997. |
