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To: JDN who wrote (47432)2/16/2002 5:39:26 PM
From: John Koligman  Respond to of 64865
 
Throw in some greed and the formula is about right. Article in today's NY Times says Lay took just around 200 million out of Enron since 1998, with around 180 million of that in stock sales and 23 million in salary and bonuses. The fact that he claims he is now in financial distress after booking that kind of payout says....??? On the other hand, you have good 'ol Bernie Ebbers, he is on the hook for 300 million in margin, but of course his firm has 'bailed him out'. Perhaps like many on SI, some of these execs expected the 'tech miracle' to last forever...

Regards,
John



To: JDN who wrote (47432)2/16/2002 6:30:50 PM
From: Charles Tutt  Read Replies (1) | Respond to of 64865
 
I don't think one needs to be stupid to not understand the fine points and esoterica of accounting. Otherwise, why are accountants so well paid (or overpaid)?

Charles Tutt (TM)