Stockman Scott's Political Debate Porch Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: stockman_scott who wrote (49432)	6/20/2004 10:54:14 PM
From: nz_q	Read Replies (1) of 89467

Ken Lay, former CEO Enron The Kingpin. Lay presided over one of the largest corporate bankruptcies and schemes to defraud investors that America has ever seen. Shareholders, workers and pensioners lost BILLIONS of dollars while Lay lined his pockets with millions of dollars in stock option gains; Lay had total compensation of over $100,000,000 in 2001 alone. Advised employees to buy Enron stock after he was informed Enron was ready to implode wallstreetmostwanted.com and then this: Enron's last-minute bonus orgy Days before filing for bankruptcy, the scandal-ridden company rewarded some executives with million-dollar bonuses as laid-off workers were denied severance packages... "According to one former senior executive, Enron's original severance package -- subsequently scrapped -- cost $120 million and would have provided each employee approximately $30,000 in severance on average. That plan was reduced, then discarded. Instead, at least $105 million was distributed in executive bonuses. "What I'd like to know is why the creditors' committee is letting them get away with this," the former executive asks. "What about this new CEO, Stephen Douglas, doesn't he need that money to operate? This is outright fraud and theft." salon.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next