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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (226520)	2/12/2002 12:58:54 PM
From: Bill	Respond to of 769670

I posted this on the Enron thread too. It's important to get a grip on the magnitude of "wrongdoing" here. The company stock lost $29 billion from this past summer when employees were still voluntarily investing. With 60,000 shareholders and 20,000 employees, is it possible that employees owned one-third of Enron? Sounds high, but for the sake or argument let's use it. Now, what part of the 401K investments did Enron contribute on behalf of the employee? One-half? Let's assume so. So, of the $29 billion loss, employee shareholders probably lost no more than one-half of one-third, or $5 billion. The other $24 billion was lost by the rest of us. That's a big loss for both shareholders and for the public. But it's not much in the context of the technology slump. By comparison, CSCO lost $350 billion in market cap during the past 2 years.