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Enron Founder Dead

By The Admiral ·
""Ken Lay passed away early this morning in Aspen," Lay family spokeswoman Kelly Kimberly said in a statement.

Lay, 64, was awaiting sentencing later this year and was expected to face decades in prison for his convictions in the Enron collapse.

Lay and former Enron Chief Executive Jeffrey Skilling were convicted of fraud and conspiracy for hiding the financial ruin at Enron, which tumbled into bankruptcy in December 2001. "

From Reuters.

My question is - should we care? We know and understand that Lay was the epitome of every single CEO out there who hides information pertaining their corporation, and his downfall, made public. But should we care that he died in his Vacation home? I mean after all, this dude filed for bankruptcy and kept most of his assets, then passed away.

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I'm not dancing on anyone's grave

by maecuff In reply to Enron Founder Dead

I'd never celebrate the death of another human. With that being said, Sarbox compliance has been my life for over a year now. However, with every argument I've had with an auditor, every stupid, useless control I've had to put in place, I've wanted to kick Ken Lay in the, well, you know. And that is just my little world. I'm sure the Enron employees who were screwed over by the guy have even stronger feelings on the subject.

Sorry the guy had to go, but we all do sometime. Guess he won't have to worry about that lengthy prison sentence he had looming over head.

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I don't think I will weep for him

by Tig2 In reply to Enron Founder Dead

Perhaps a prayer for his soul would be fitting.

I think that it bites that he will never serve time. I think is it outrageous that he was the epitome of what is wrong in America- the wages of sin are about $5M.

Hopefully all Lay will be remembered for is that which he did wrong.

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But Admiral

by jdclyde In reply to Enron Founder Dead

That is exactly what bankruptcy IS. PROTECTION from your creditors so you DON'T lose all of your assets.

As for Lay himself, his death is news only for the people that know nothing of the case but still wanted his head on a pike. 98% of the people that want his head on a pike are too stupid and/or lazy to even know what it is Lay did in the first place.

I am surprised the stress of all this didn't finish him off a long time ago, either from heart failure or some bizare hunting "accident".

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In the News Article I read

by j.lupo In reply to But Admiral

his preacher in Texas said it was a heart attack although the doctors and family are keeping quiet right now.

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But Nuttin!

by The Admiral In reply to But Admiral

Yeah, I agree - but I have a fundamental problem with someone who says they are broke and they take their $600 Million Dollar Yacht out for a week trip.

Or they pass away in their million dollar Vacation home.

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I read in one of the news reports

by j.lupo In reply to Enron Founder Dead

that this may cause a problem with them getting the 43+ million back that they were going after him for. Once he was found guilty they were trying to get some of the money back even though he filed for Bankruptcy. This will make it much harder since now they have to go after his estate which is bankrupt.

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Lucky him

by SciFiMan In reply to I read in one of the news ...

I don't know about Texas probate, but an estate is usually the same as a person, requiring paying taxes and certain other obligations. Although the rich usually have advantages in this beyond normal men.

To bad he died before serving time. But other than a few years of some stressful days, it worked out very well for him. His family remains rich off the backs of others. If he has kids I sure hope they don't go into business.

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I would have liked to see compensation

by WingedMonkey In reply to I read in one of the news ...

for those that lost too much.
My mother lost $30,000 when Enron went down. Bless her soul, thankfully she was able to keep her home, car and pets.

Oh who am I kidding, I'm only peeved cause I was looking to grabbing a chunk of that in her Will.

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Send it all to auction!

by The Admiral In reply to I read in one of the news ...

I have an auctioneer license that I am willing to put to use to recover the 43 million from his assets.

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Yeah well the prosecutors are

by j.lupo In reply to Send it all to auction!

still looking for a way to get the 43 million, it just complicated their case with him dead. Figures he would find a way to "screw" with everyone right at the end.

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