I do not know all of the details but I thought that they didn't have an option and that was the reason so many people were screwed. I may be wrong though.
There were many warning signs that employee's failed to realize due in part to sheer laziness. If they looked into the SEC mandated 10K filings they would have seen irregularities such as cash flow from operations not being present. With common financial sense if you see huge rises in net income followed with an imbalance of cash flow, you know something is not right. Furthermore, other smaller details such as balance sheets missing from profit statements were not there. The most glaring and obvious warning sign was the sudden departure of top CEO's like Skilling. At the time of his departure everything was rosy at Enron. It doesn't take a genius to figure out if a CEO with such a short tenure suddenly quits something may be going awry. As for pensions and stock sales not allowed, the Enron employees were given several chances to sell their stock before the ultimate collapse in share price. They were given an opportunity to sell when the share price was at $60, but few took the chance, because they happily believed the share price would rise back to $90. In investing you have to know when to cut your losses.
you see, OJ used to play football for the NFL. during his career, he played a few games in Houston. Houston is where Enron resides. Thus, OJ is the reason Enron collapsed, which caused him to murder his wife and friend.
I'm gonna admit this, trader_jorge schooled me on something about there was a point right before the collaspe that they had switched fund managers and there was a lock-out period that they couldn't change their plan distribution while the preverbial sh!! was hitting the fan.
401k's always have options. They could have chosen several different mutual fund portfolios. The fault on Enron's part was telling people that their wisest move would be to put all of their retirement money in Enron stock. Most employees do this because a lot of corporations will offer a "match" on their employees investment into the companies stock. To the employees credit, before the collapse, Enron stock looked mighty tempting.
that's pretty unfair, bigtexxx is the one who brought o.j. into this discussion for no reason. and as to the point, it is a legitimate question, who's worse a common criminal on the street who may end up murdering someone, or shady execs who ruin a whole fortune five hundered company bringing down hundreds of families. enron has had more impact on this country than the death's of nicole brown and ron goldman.
Yes, but to say former employees should be thanking him is silly. Maybe a secretary there was paid more than most secretaries somewhere else. I made just as much money at AA as I did at Enron (yes, bad example....but just trying to say a lot of the employees there were highly skilled and could have made big money at another company).
Fastow, Skilling, and Lay all deserve life in prison. Lying, cheating, greedy scum who betrayed thousands of employees and shareholders. What they did is equivalent to robbing millions of convenience stores.
someone used his as bait as a way to bring race into this equation the ideal being I would defend OJ because he is black and I would condemn skilling and Lay because they are not since as Fatty pointed out . . OJ was found Not Guilty I have no reason to defend him . . . Skilling and Lay will get their day in court Rocket River
QUESTION: Do you beleive Con Games should be illegal? following you logic. . if one is stupid enough to GET TAKEN in a Confidence game. . . oh well . . their loss Rocket River
exactly rocket river, whenever the question comes up on some defendant's guilt or innonance bigtexxx brings o.j. but you are the one labeled with the problem, when he's the guy who compared a murder trial to this trial. its ridiculous.
Well, it probably would have been best if you just said... What does OJ have to do with Enron? Or... OJ and the 2 people he killed have nothing to do with Enron. Or... Enron and the people they ****ed over have nothing to do with OJ. Or some other variation of that, instead of taking the bait.
Again those that fraudulently lied and inflated the value of the stock are the ones to blame, to try and blame the victims IMO is wrong. As for Skilling leaving that could have been due to having other opportunities, spending more time with the family etc. The other things you mentioned may or not tip someone off depending on their investing experience, and trust of their Employees. As you pointed Ken Lay had done many good things. Why not trust him? They would seemingly have every reason to. But blaming the victim because they were defrauded, lied to, and conned isn't logical.
