On behalf of the employees, may I request that you exempt them from the moron designation? They had no choice in the matter as far as their 401k was concerned. The entire employer contribution component was in Enron stock and they couldn't sell it until they were 50 years old even if they left the company. That created an retiremement portfolio oveweighted in Enron whether they liked it or not.
You can put whatever you want in a 401k.
My portfolio is overweighted toward shares of employer as well - it's a form of compensation.
The remedy for this is to sell shares as they vest in order to diversify.
If people had their life savings in the stock these means one of two things: they failed to diversify by selling shares of stock that had vested or they took savings they already had and deliberately overweighted their portfolio toward Enron stock.
Neither was wise.