[NY TIMES] Kenneth L. Lay, Ex-Chairman of Enron, Dies link HOUSTON - Enron's founder and chairman, Kenneth L. Lay, died of a heart attack at his vacation home in Colorado, according to his spokeswoman. "Ken Lay passed away early this morning in Aspen. The Lays have a very large family with whom they need to communicate. And out of respect for the family, we will release further details at a later time," Kelly L. Kimberly said in a statment this morning. In May, Mr. Lay was found guilty on six counts of fraud and conspiracy and four counts of bank fraud. The former chief executive, Jeffrey K. Skilling, was convicted of 18 counts of fraud and conspiracy and one count of insider trading. For years, Enron's gravity-defying stock price made it a Wall Street darling and an icon of the ''New Economy'' of the 1990's. But its sudden collapse at the end of 2001 and revelation as little more than a house of cards left Enron, with its crooked E logo, the premier public symbol of corporate ignominy. Investors and employees lost billions when Enron shares became worthless. Enron's fall had a far greater impact than on just the energy industry by heightening nervousness among average investors about the transparency of American companies. ''The Enron case and all the other scandals and cases that trailed after it may have finally punctured that romance with Wall Street that has been true of American culture for a while now,'' said Steve Fraser, a historian and author of ''Every Man a Speculator: A History of Wall Street in American Life.'' At Enron, Mr. Skilling was the visionary from the world of management consulting who spearheaded the company's rapid ascent by fastening on new ways to turn commodities, like natural gas and electricity, into lucrative financial instruments. Mr. Lay, the company's founder, was the public face of Enron. Known for his close ties to President Bush's family, he built Enron into a symbol of civic pride and envy here in its hometown of Houston and throughout the financial world.
Wow. Just heard it too. I wonder if he killed himself. Either way I think he lucked out by not having to serve jail time.
Ken Lay Dies Of Massive Heart Attack POSTED: 9:00 am CDT July 5, 2006 HOUSTON -- Former Enron Corp. chairman Ken Lay died of a massive heart attack, KPRC Local 2 reported Wednesday. Lay, 64, was admitted to the Aspen Valley Hospital overnight with a massive coronary, sources told KPRC. Doctors said his heart simply "gave out" and the death was unexpected. Lay was found guilty on May 25 on six counts of conspiracy to commit securities and wire fraud in a case born from one of the biggest business scandals in U.S. history. He was to be sentenced on Sept. 11.
Does this justify the verdict? I guess he was truly guilty, and he did cheat all those people and Enron itself.
I keep picturing that scene near the end of Casino where that one dude dies instantly of a heart attack when he realizes he going away for a long time.
Olivia Newton-John My mouth is dry, my legs are weak I'm thinking this cause I can't speak I'm looking at you, you're looking at me You must think that I'm just crazy If you only knew what you're putting me through It feels like a heart attack You're giving me a heart attack Heart attack You're giving me a heart attack Must have died and gone to heaven What a way to go I can't catch my breath You must be a dream But you're the cutest thing I've ever seen I'm way past the point of recovery You're gonna be the death of me If you only knew what you're putting me through It feels like a heart attack You're giving me a heart attack Heart attack You're giving me a heart attack Must have died and gone to heaven What a way to go A heart attack You're giving me a heart attack Heart attack You're giving me a heart attack You're giving me a heart attack You're giving me a heart attack
