Anybody else looking forward to see how the case against Jeff Skilling and Ken Lay unfolds? I can't wait. It's taken four years since the bankruptcy for this trial to take place, and there have already been many convictions, with a few people already in jail (Ben Glisan and Lea Fastow, who already finished her 1 year sentence). Andy Fastow has already been convicted and is awaiting sentencing, as is Richard Causey. Both will testify against Skilling and Lay and should make for quite a spectacle. I can't wait for Skilling to take the stand. After watching him humiliate Senators (Barbara Boxer, *snicker*) during the Senate hearings, I think it's a given that he will have some very strong opinions. Should be good fun! If you haven't seen the Smartest Guys in the Room movie, it's now out on DVD and would make a nice prep for the trial. I saw it and thought it was a great documentary that sums up the events of Enron in a couple of hours.
Ahh, that's right. The trial starts on Monday. I've been swamped the past two weeks with back to back trials but was meaning to keep an eye on how my federal counterparts try that case. I've also been meaning to check out the Smartest Guys in the Room. Bigtexx, is the DVD available only for purchase or can you find it at Blockbuster/Hollywood Video?
LOL, yeah, most decent cross-examiners are real afraid of a talkative defendant/witness who likes to give strong opinions and tell how smart he is.....please don't throw me in that briar patch....
Sam, Jeff Skilling has set aside over $20 million for his legal team. I'm sure his opinions will be well informed and calculated according to the advice of his legal advisors. Would you be up to the task of going up against such a strong legal team? Perhaps you could offer up some pro-bono work for the prosecution.
I had preordered it off of Amazon. I would suspect that the video rental houses would have it, but I'm not sure.
Then he would be wise to listen to their advice, which will invariably be TO SHUT THE F- UP UNLESS YOU WANT TO GET ARSE POUNDED IN JAIL FOR TWO DECADES when being cross-examined. Regrettably, I resume employment on Monday thus my services are accounted for.
Ben Glisan's brother is a good friend of mine (he might be getting out very soon) - he's been prepping for the trial for quite a while now and should be quite a thorn.
Yes, probably good advice to be quiet. If I'm not mistaken, if convicted, Skilling would serve time in the federal prison system, which is much safer than the violent and dangerous state prison system. Probably wouldn't face much risk of violence/rape in there.
The DVD is pretty good, although they don't really go into much detail. Granted, that's a lot of information to try and cram into a 2 hour movie but I was hoping to get some more info on Fastow and all of the funds he ran (LJM, LJMII, etc). They seem to almost give him a free pass almost (although there is an interesting and rare video of him selling investors on one of his funds) while the book spends a lot of time on him. I guess it's because they didn't have any pictures of him with the President... One thing they don't really spend much time on is the aftermath. The movie pretty much ends on the day Enron filed for bankruptcy. So did the book, come to think of it. I would have liked to see more about what happened to all those Enron and Arthur Anderson employees that got canned. The movie only had a short interview with 1 ex-employee and a couple of ex-traders.
I've been following the Enron case closely for quite awhile. I predict Jeff Skilling is going to be convicted of most charges and get a pretty heavy sentence. I think Ken Lay will be found innocent on the most serious charges and be convicted on a few of the lesser ones, he will receive a lighter sentence.
Yes, I think Ken Lay has done a much better PR job than Skilling has to date. He's really been going for this innocent bystander portrayal who wasn't aware of what the underlings were up to. I personally think that couldn't be further from the truth. Ken Lay is a very sharp individual and has a PhD in economics. He's no fool and I think that he was more involved than he is letting on.
Yes, I agree I think he definitely knew what was going on prior to coming back as CEO, but unless i'm mistaken the government isn't accusing him of any wrongdoing prior to him taking over for Skilling. So I think he's going to get off easier because most of his crimes were "after the fact". You're right, he is very good at PR. Listening to him speak, I almost feel sorry for him. Then I have to remind myself that the guy still has more money than I'll ever see in my life.
pretty good article in the most recent Fortune regarding the case. Skilling seems to be the mastermind behind a lot of this, but Lay apparently had several opportunities in his brief tenure as CEO to at least try and rememdy the escalating situation. both, however, (Lay and Skilling) will try to place the blame on Fastow's malicious accounting tactics... which on the surface seems reasonable since it was Fastow's private, un-accounted partnerships that were inflating Enron's earnings. however..... those partnerships, which both Skilling and Lay will try to argue really brought down the company, were authorized several times by both. it'll be interesting how this thing turns out... reportedly, Lay and Skilling loathe each other... seeing them team up will be a hoot.
Interesting that there are more women than men on the jury. I agree with the sentiment here....Lay will be convicted of lesser charges than Skilling and will receive a lesser sentence. He has done a better PR job than Skilling. And I agree....there is no way Lay is as "innocent" and "unknowing" as he claims to be. It's absolute ridiculousness. And definitely see "Smartest Guys in the Room". I believe you can rent it at Blockbuster. On a sidenote....I ran into Lea and Andy Fastow in October at a community function. I've known Lea off and on since I was in elementary school (she and I are the same age), although we run in very different circles now, and she barely recognized me. My Mom and her father are fairly close and work together on community issues. Her father, Jack Weingarten, is an absolutely wonderful man. Very wealthy, biggest real estate portfolio in the city (Weingarten Realty), yet he treats everyone with respect and acts in a humble manner like any regular guy you would meet in a bar or a gas station. In RMT's opinion....Lea is a very nice woman who comes from a wonderful family but unfortunately has absolutely piss poor taste in husbands. She has been very lucky to have the family she does as she went through being in jail. To me, Lea chose a real loser as a husband. Andy is an egotistical, smarmy, greedy horses ass. Before Enron's collapse, Andy's personality was such that whenever he met a new person, the first thing he wanted to know is what they did for a living and how much money they earned. If the person was a regular working Joe, he would basically spin on his heels like a sorority b**** and walk away. Andy is the absolute 180 degree opposite of his father in law. What goes around, comes around, I guess. I wonder if he'll behave that way in the federal pen? OK, I'm off my soapbox now!
I predict neither will serve more than 2 yrs the rest will be probation They will be sipping Mai Tai and chilling on the retirement money they took not later than the end of 2008 Rocket River for the most part. . I think they skate free
Gawd, that has to be the most boring trial ever. No cool crime scene photos, no murder weapons, just hours and hours of boring depositions, spreadsheets, phone conversations, etc...
