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Non-Tech : The ENRON Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Karen Lawrence who wrote (746)	1/17/2002 2:14:51 PM
From: Karen Lawrence	Respond to of 5185

Enron workers sell, sell, sell company stuff online By DANIEL J. VARGAS Copyright 2002 Houston Chronicle Newsflash: Enron is turning a profit. On eBay, that is. Associated Press Former Enron employee Matt Mitchell saw his risk management manual (originally free) top $300 Wednesday on the eBay trading Web site."I didn't think there would be so much interest that someone would pay $300 for it," Mitchell, 29, said. "I did it as a joke. I wanted to make light of the situation. To get some laughs." Former and current employees of the troubled Houston energy company are successfully selling company trinkets as collectibles and reminders of the largest bankruptcy in U.S. history. On the auction block are items ranging from yo-yos to code of ethics books to a risk management manual, which on Wednesday was commanding more than $300. To help put this capitalistic endeavor in perspective, the company's stock last traded at 67 cents a share before being suspended earlier this week. As of Wednesday afternoon, almost 200 Enron-related items were going to the highest bidder. And many were willing to buy a piece of history. Need an Enron candy dish? Not a problem, unless you don't have $100 to spare. An Enron koozie? That's $20. How about a computer stressball? $15. Wednesday afternoon, current Enron trader, Eric, who asked that his last name not be used, had 14 auctions under way, including golf balls, crystal Enron cubes, lapel pins and a Tiffany sterling silver key ring. He bought most of the items at the company store, which is now closed, and posted them on eBay. "Things are going for ridiculous prices," the 25-year-old said. "It's things people had lying on their desks." Well, when they had desks. So far, Eric has sold a dozen golf balls for $200 (originally about $15) and two crystal cubes (originally $11 each) for $90 each. "It's sort of out of control," he said. Sort of like the company's books. Associated Press A Tiffany sterling silver key ring like this one is among many Enron trinkets on the eBay auction block. Former Enron employee Matt Mitchell watched his computer screen Wednesday as his risk management manual (originally free) topped $300. Bidding ends today. "I didn't think there would be so much interest that someone would pay $300 for it," the 29-year-old said. "I did it as a joke. I wanted to make light of the situation. To get some laughs." He listed the manual this way: "Enron Smoking Gun: Risk Management Manual." Mitchell included this teaser in the item's description: "From the manual: Attain Favorable Accounting Treatment. By using certain structures, companies can re-categorize expenses in such a manner as to improve the perceived financial performance." Mitchell, who worked 14 months as a senior sales engineer for Enron, was among scores of others from Enron's money-losing broadband services who were laid off last July -- months before Enron filed for bankruptcy and 4,500 employees lost their jobs in December. Karen Denne, Enron spokeswoman, said there's evidently a market for everything. "It makes you look around your desk a lot differently," she said. Mitchell, who has found another job with a small Canadian-owned software firm, said he is considering putting other items up for auction including coffee mugs, shirts and bags. "Considering how well this one (the manual) has done, it is a possibility," he said. At least for the moment, Enron is making money again. Return to top