I'm better off ... [was "Re: Why they hate us..."]
Tue, 5 Mar 2002 22:10:36 -0800
Well, it certainly looks like the execs at Enron need to be fried. Once
upon a time I'd heard that Lay kept a lot of his stock. Now I learn he
started dumping in earnest after warned about accounting scandals. That
certainly meets my definition of insider trading.
But as far as the employees losing their retirement, they have gotten far
more attention than they deserve. To the extent they bought stock with
their own money, they have the same claims as other investors. Indeed, the
retirement funds of _other_ employees that invested indirectly in Enron are
more of a problem.
To the extent that their paper profits on corporate matching funds were
lost - easy come easy go. They got a gift that showed a huge paper profit
that disappeared. It isn't like they lost their own money.
www.opinionjournal.com mentioned one Enron employee that was complaining
about her loses. What is interesting is that she was participating in the
'fake trading room'. So lets get this straight - she was investing in a
company she knew was deceiving analysts and she was in on the scam. Feel
sorry for her? No. She should feel lucky the investors won't come after
her. In general, Enron employees had a better appreciation for the quality
of their company that outsiders could have.
From: email@example.com [mailto:firstname.lastname@example.org]On Behalf Of Michael
Sent: Tuesday, March 05, 2002 2:09 PM
To: Marty Halvorson
Subject: Re: I'm better off ... [was "Re: Why they hate us..."]
I bet you do have some anger at the priveledged. If you are not angry at the
Enron execs making off with millions while the rest of the employees lost
their retirement, well then I really don't know what to say