Word: enronizing
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Every week, TIME writers and editors chat on AOL about the news. This week we look at homeland security, the collapse of energy giant Enron, and the highly anticipated debut of the top-secret invention Ginger. Go to AOL, Keyword: Live...
...GOODGAME directs TIME's coverage of business and the economy, including this week's story on the spectacular collapse of energy-trading firm Enron and a special report on the 25 most influential global business leaders, available on TIME.com at time.com/influentials Chat with him live on Monday...
...Optimism is everywhere - about the recession being short and not too bitter, about tech stocks leading the way back to profits, about the war in Afghanistan, about the economic stimulus package. Even about Enron - up 26 cents to $1.16 - which may actually live to trade weather futures another day with the help of its self-interested rescuers at J.P. Morgan Chase...
...Like Enron, many other big firms match employee contributions with company stock. Your allocation to that one investment can grow very quickly. And you might not be allowed to reallocate those matching funds into other investments until age 50 to 55. At the end of last year, a whopping 39% of total assets in profit sharing and 401(k) plans were invested in the stock of the sponsoring company. Among employees who are allowed to hold their employer's stock in their 401(k) account, 18% invested half or more of their savings in that stock...
...Here's One Country That Believes in Miracles Enron Corp., Your New CEO Has Been Located