[Shermy]

Makes sense. The employees were competitors with Lay and the upper brass. The employees were massive holders of Enron stock, as did the upper brass. If the employees started selling off stock, Lay and the brass would get less on the stock they were selling off. It was a profitable move on Lay's part.

[fleur-de-lis]

I have gotten a bunch of similar sounding letters from companies I have worked for over the years. Sometimes the company continued to do well, sometimes it did not. Do we think companies will ever send employees gloomy letters?

Finally, any stock sales by principals is a matter of Federal public record AND the internal company rumor mill is very effective at circulating stories of upcoming problems. Did everyone think that the Enron stock price dropping from $83 on Jan. 1, 2001 to $24 on Oct. 1, 2001 and $14 on Oct. 29 was just a fluke? Get serious!

[christianswindler]

Fact #1: "Lay sold $40 million of Enron stock between January and August last year,"

Fact #2: "In a pair of e-mails to his employees in August, the chairman of now-bankrupt Enron touted the company's stock and declared that the energy trader giant's growth `has never been more certain.'"

If these two facts are indeed true, GWB will not come to Lay's defense no matter how close they have been.

[mrsmith]

Heck, look what he was saying in September:
corphilanthropy.org
"Enron announced today that it is donating $1 million to support the relief and recovery efforts arising from the tragic events of Sept. 11. The $1 million corporate donation will include:
· $500,000 to the American Red Cross
· $500,000 to organizations set up by the city of New York to assist affected families of police, fire and emergency medical services departments
"...We are joining the efforts of numerous companies and organizations that stepped forward, and we hope to set an example for our employees."
Enron is also encouraging its 18,000 global employees to make personal donations up to $15,000, which Enron will match and double. "

LOL If it gets too hot Lay might have a good insanity defense.

[Arleigh]

"A [BLANK] and his money are soon parted."

"If it looks too good to be true, it probably is."

While in NO WAY excusing the perfidy of the Enron management, anybody that puts their entire savings in one stock is an idiot. And to invest your savings in the SAME company you work for is double folly.

These people were blinded by greed. They thought they had found the road to easy wealth. Their ruin is a perfect metaphor (and omen) for the 1990's.