Very bizarre. Got very lucky and sold in January not because I had anything against Enron, but because I gave up on individual stocks in general. I got in high so I made next to nothing. I saw a story in the Chronicle about a poor 54 year old Enron employee with arhtritic knees who hurts everyday as he climbs utility poles. His consolation was that he had 400 k in his retirement account all in Enron stock. Last week they said he had only 40 k left. If the poor b*stard stayed in it is now worth about 4k. I saw a story that said the Enron retirement plan had a higher than usual concentration of its own stock prior to the collapse. There have to be some desperate people especially in Houston due to this. I'm surprised we haven't seen more local stories like this. To think Enron paid if I remember 100 million for the naming rights of the baseball field. The whole company is only worth several times that now.
I read that same column and was outraged by it. On the bright side, he almost certainly has a pension to look forward to. This is strictly an "it could be worse" reminder. I feel bad for the guy. On the other bright side, he's filed a lawsuit, so I imagine he'll end up making out fairly well.
At least they're working. My wifes company just shut down and spilled who knows how many thousands of people into the street. Big steel mill... No...she's not a grunt. She's an engineer....
Unbelieveable. I took quite a bath on that stock. Thought about selling many times, but Dynegy deal kept me in it. Whats worse is I bought more right before the deal was made. At least I have 700 peices of toliet paper now.
When your credit rating is cut to "junk" your stock has to fall. http://money.cnn.com/2001/11/28/companies/v_enron_analyst/
Good question, but if it is paid, I don't think so.....Just imagine, the next generation will wonder what this "Enron" is suppose to mean....sad.
Word of Advice Fellow BBSers, Stay the hell away from Enron Stock. Though the stock has fallen from close to $90 to $.30, that does not mean its a bargain. My thoughts are that the company will go bankrupt. Enron divulged most of its physical assets to become a trading mechanism, and the only real asset, its northern pipeline, will be bought by Dynegy based on the contract if the deal falls through. All Enron "had" was its reputation through its trading market and that is ruined. Its a sad tale of Arrogance, deception and greed that brought one of the companies that was going to change the world to its demise. STAY AWAY AT ANY PRICE When you can't trust the management of a company, its financials means nothing. And fundamentally, the firm is done.
didn't ken lay just turn down a 60 million dollar severence package? what an idiot. all of california must be laughing now.
Ken Lay should be thinking about hiring Johnny Cochran right about now. I smell prison time for Mr Lay.
Similar to what Timing mentioned above, one reason I have heard for his turning down the package is to look good when the trial comes. So while he is an idiot and evidently a pretty big scumbag, he isn't an idiot for turning down the severance package, nor did he do it out of the kindness of his heart...
