[Torie]

Here's a bit on the 401k thing on the Anderson thread (it appears Edwards may be correct, at least as to the matching contributions):

Can 401(k)s be protected?

There has been some movement in congress for reform, spurred by the plight of Enron workers who had, on average, 62% of their 401(k) savings tied up in Enron stock. Those savings were largely wiped out because the plan offered little opportunity to diversify. Like many corporate plans, Enron's didn't allow participants to transfer stock that had been given to them as part of a matching contribution until age 50. And Enron officials actively encouraged workers to buy Enron stock. In a memo in August, Lay told employees he'd "never felt better about the prospects of the company. Our growth has never been more certain." Enron workers were further hamstrung by Enron's switching of plan administrators and freezing of all asset shifting within 401(k) accounts for at least 10 days, just as Enron stock was taking its dive. The result was ruin, as Enron sank from $90 to under $1.

[Howlin]

Brooks Jackson's report on CNN today directly contradicts that. He said 89 percent of the stocks held by employees was voluntarily bought and could have been sold. We shall see.

[SW6906]

"Enron workers were further hamstrung by Enron's switching of plan administrators and freezing of all asset shifting within 401(k) accounts for at least 10 days, just as Enron stock was taking its dive. The result was ruin, as Enron sank from $90 to under $1. "

The plot is reply #160 puts the lie to this statement.

[Wphile]

Of the 62% in Enron stock, how much was the result of the Company match? Not much I bet. During the 10 day lock-out period, the stock went down approximately $3.

If they want to claim that they should be awarded the cash equivalent of the stock as it was contributed to the plan, fine. That would be at the price the stock was at the time of the contribution. A lot would be at very low prices, probably. Some may be at the higher end.

The stock slide from $90 to 1 is not all that unusual, unfortunately. Look at JDSU, Lucent, Rambus, Global Crossing, Real Networks, etc. Remember the NASDAQ was at 5,000 in February of 1999.

[Sungirl]

You say during those 10 days of lockout, enron stock fell 90 bucks?

this guy says this:
Moreover, he pointed out that the 401K was only locked for 10 trading days in October (employees had been notified about this change in February). During the lockout, ENRON fell about $3 to $4 per share.

and someone else said that 90% of the stco fell during August 2001 ...BEFORE they called the Bush Admin for help. Why so many differing opinions? What's fact?