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Before the company officially went bankrupt, Lay, who had earned admiration for his unpolished, affable manner, had lost his loyal fan base. In late October--a day after Enron acknowledged that the SEC had opened an investigation of its accounting practices--Lay tried his best to raise the spirits of his downtrodden workforce. At a company gathering caught on videotape, the son of a Missouri minister promised that there wouldn't be any layoffs and that Enron would rise again. For once, though, the rank and file weren't drinking Ken's Kool-Aid. As one disgruntled worker...
...ranking of woman-owned businesses. But Ken Lay didn't just set an example for his sister--his company sent lots of deals her way. From 1996 through 2000, Sharon Lay's company (renamed Alliance Worldwide in December) received $6.8 million in commissions from Enron travel, according to SEC documents. Enron commissions reportedly accounted for half the travel company's revenue...
Documents filed with the SEC yesterday show that HMC lost at least $10 million and as much as $18 million due to Enron’s collapse...
Yesterday, the Securities and Exchange Commission (SEC) was asked to investigate whether Enron’s directors should be removed from the boards of other public companies. There’s no word on whether the SEC will comply, or how long such an investigation might take. But as the SEC considers the request, Harvard should embark on its own investigation—whether Harvard Corporation member Herbert S. “Pug” Winokur ’64-’65, an Enron director since 1985, should remain on the University’s highest governing body...
...Guests like SEC Chairman Harvey Pitt, who spent Monday afternoon before the House Financial Services Committee telling his questioners that the SEC was not only capable of getting to the bottom of the Enron mess but of also being a friendlier place for corporate accountants to come with questions about what they should and shouldn't do. And for all Pitt's genially droning delivery, and all the time he spent dodging grandstanders digging for pungent quotes on Bush's budget priorities, at least the general theme of the exchange was figuring out - and fixing - the real problem...