Word: enronizing
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Dates: during 2000-2009
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...meet former Enron founder Ken Lay in an elevator he's a kind, cordial, grandfatherly guy. But under cross-examination this week in the Enron fraud and conspiracy trial, Lay appeared to be an angry, defiant, defensive man. It was the demeanor people had expected when co-defendant Jeff Skilling testified, not from...
...Jurors swiveled their seats 45 degrees to the left so they could look directly at Lay as he testified about being "on the battlefront" in the final months of Enron before it collapsed under a pile of debt in 2001. Lay blamed Enron's collapse largely on his former CFO Andy Fastow and described a witchhunt to destroy the company led by Wall Street Journal reporters and short sellers...
JEFFREY SKILLING, former Enron CEO on trial for conspiring to defraud shareholders, responding to charges that he lied to investors...
...Other experts point out that Skilling's credibility has already been damaged over charges of insider trading. He and his ex-wife Susan and soon-to-be-wife Rebecca all unloaded millions of dollars' worth of stock when Enron's fortunes started to plummet. When the prosecution pressed him about the coincidence, Skilling denied talking to them about the company's fortunes, testimony that his ex-wife confirmed, somewhat unconvincingly, in court. (The jury tittered when she said she "didn't pay much attention" to her ex.) "They directly impeached him on insider trading. His story's just not credible...
...brutal as Skilling's questioning got at times, Lay could be in for a harder time on the stand. Whistleblower Sherron Watkins has testified that Lay continued to tout the company to investors and employees even after she gave him dire warnings about the Enron's finances. Skilling met with Lay the same day as Watkins, but he swears the two never discussed her allegations. If Lay doesn't contradict his co-defendant, it raises the question of why he didn't bring up the issue himself with Skilling. Did he not believe Watkins? Or not trust Skilling...