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May 23rd, 2024
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Enron founder Ken Lay dies, 64
#161408
07/05/06 10:39 AM
07/05/06 10:39 AM
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Joined: Feb 2004
Posts: 5,453
California
XDCX
OP
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OP
Joined: Feb 2004
Posts: 5,453
California
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From CNN.com NEW YORK (CNNMoney.com) -- Enron founder Kenneth Lay died early Wednesday in Aspen, Colo., a family spokeswoman said.
Lay, 64, was awaiting sentencing after being found guilty of conspiracy and fraud in the Enron trial in May.
In a statement, spokeswoman Kelly Kimberly said, "The Lays have a very large family with whom they need to communicate, and out of respect for the family we will release further details at a later time."
CNN affiliate KPRC in Houston said Lay was admitted to the Aspen Valley Hospital overnight with a massive coronary.
On May 25, Lay was found guilty of 10 counts of fraud and conspiracy related to the collapse of Enron, the energy company he founded that eventually grew into the nation's seventh largest company before it imploded after an accounting scandal.
It was an astounding fall from grace for the Houston businessman who was once nicknamed "Kenny Boy" by President Bush. Lay had raised funds for Bush earlier in his political career.
In the Enron trial, Lay was accused of lying to investors and Wall Street about the health of Enron in late 2001 even as he enriched himself by selling millions of dollars in stock.
Lay was scheduled for sentencing on Oct. 23 along with Enron's former chief executive Jeffrey Skilling, who was found guilty of conspiracy, fraud, making false statements and insider trading.
Both men faced 25 to 40 years behind bars, legal experts said.
Presiding Judge Sim Lake originally scheduled sentencing for Sept. 11.
Enron filed for bankruptcy in December 2001 after investigators found it had used partnerships to conceal more than $1 billion in debt and inflate profits. Enron's downfall cost 4,000 employees their jobs and many of them their life savings, and led to billions of dollars of losses for investors.
The collapse was the first of the high-profile corporate scandals that later rocked WorldCom, Global Crossing, Adelphia and Tyco.
The wave of fraud led to the passage of the Sarbanes-Oxley legislation meant to tighten oversight of how American companies were audited. A massive coronary seems pretty convenient...
"Growing up my dad was like 'You have a great last name, Galifianakis. Galifianakis...begins with a gal...and ends with a kiss...' I'm like that's great dad, can we get it changed to 'Galifianafuck' please?" -- Zach Galifianakis
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Re: Enron founder Ken Lay dies, 64
#161412
07/05/06 01:16 PM
07/05/06 01:16 PM
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Joined: Jul 2001
Posts: 14,900
Beth E
Crabby
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Crabby
Joined: Jul 2001
Posts: 14,900
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Originally posted by goombah:
This was one despicable human being. If there was any justice in this world, all the Enron employee's he helped bilk should all receive money from his estate, life insurance, etc. instead of his family. I was thinking the same thing. Justice will not be served, and it will be a crying shame if his wife and kids buy luxury cars and expensive gifts off of the money Kenneth ripped off of people. There should be a trust set up where the victims can get some of their money back.
How about a little less questions and a lot more shut the hell up - Brian Griffin
When there's a will...put me in it.
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Re: Enron founder Ken Lay dies, 64
#161414
07/05/06 02:43 PM
07/05/06 02:43 PM
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Joined: Dec 2001
Posts: 2,907
Born on the Bayou
Saladbar
Underboss
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Underboss
Joined: Dec 2001
Posts: 2,907
Born on the Bayou
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Originally posted by dontomasso:
In the words of Willie Cicci : "That wasn't no heart attack." Probably some sort of suicide with an insurance angle... one last scam from him! OH well...all that cheating, making money, scamming did him a lot of good. We all end up the same way. Maybe he tried to buy his way into heaven at the end and left in his will $$$ for all the families he ripped off
"Patriotism is supporting your country all the time and your government when it deserves it"
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Re: Enron founder Ken Lay dies, 64
#161415
07/05/06 03:05 PM
07/05/06 03:05 PM
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Joined: Jul 2003
Posts: 4,273
Hell
Mike Sullivan
Underboss
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Underboss
Joined: Jul 2003
Posts: 4,273
Hell
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Well. That's one way to get out of being Bubba's little bitch. Congratulations to him. I hope he burns in hell.
Madness! Madness!
- Major Clipton
The Bridge On The River Kwai
GOLD - GOLD - GOLD - GOLD. Bright and Yellow, Hard and Cold, Molten, Graven, Hammered, Rolled, Hard to Get and Light to Hold; Stolen, Borrowed, Squandered - Doled.
- Greed
Nothing Is Written
Lawrence Of Arabia
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Re: Enron founder Ken Lay dies, 64
#161418
07/05/06 05:31 PM
07/05/06 05:31 PM
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Joined: Aug 2001
Posts: 18,238
The Ravenite Social Club
Don Cardi
Caporegime
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Caporegime
Joined: Aug 2001
Posts: 18,238
The Ravenite Social Club
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Originally posted by MistaMista Tom Hagen:
Wow, a lot of animosity for a white-collar criminal. Wow, a white collar criminal who just happened to wipe out the retirement accounts of all those who worked under him. Wow, a white collar criminal who's greed and theivery just happened to wreak havoc on an entire nation's economy. Yeah, go tell the gentleman who worked 30 years and 'thought' that he had $200,000 in pension money coming to him but wound up with a big fat 0 that there is a lot of animosity towards someone who is, in your words, ONLY a white collar criminal. I retract what I said earlier when I posted that he should have died ten years ago. What I should have posted instead was that He should have died at birth. The son of a bitch. Don Cardi 
Don Cardi Five - ten years from now, they're gonna wish there was American Cosa Nostra. Five - ten years from now, they're gonna miss John Gotti.
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Re: Enron founder Ken Lay dies, 64
#161420
07/05/06 05:34 PM
07/05/06 05:34 PM
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Joined: Feb 2004
Posts: 5,453
California
XDCX
OP
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OP
Joined: Feb 2004
Posts: 5,453
California
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Originally posted by Don Cardi:
[quote]Originally posted by MistaMista Tom Hagen:
[b] Wow, a lot of animosity for a white-collar criminal. Wow, a white collar criminal who just happened to wipe out the retirement accounts of all those who worked under him. Wow, a white collar criminal who's greed and theivery just happened to wreak havoc on an entire nation's economy. Yeah, go tell the gentleman who worked 30 years and 'thought' that he had $200,000 in pension money coming to him but wound up with a big fat 0 that there is a lot of animosity towards someone who is, in your words, ONLY a white collar criminal. I retract what I said earlier when I posted that he should have died ten years ago. What I should have posted instead was that He should have died at birth. The son of a bitch. Don Cardi [/b][/quote]  Somebody get this man a drink! Whaddya take, Cardi? 
"Growing up my dad was like 'You have a great last name, Galifianakis. Galifianakis...begins with a gal...and ends with a kiss...' I'm like that's great dad, can we get it changed to 'Galifianafuck' please?" -- Zach Galifianakis
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Re: Enron founder Ken Lay dies, 64
#161422
07/05/06 06:42 PM
07/05/06 06:42 PM
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Joined: Jul 2006
Posts: 50
Martin Joseph
Button
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Joined: Jul 2006
Posts: 50
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Originally posted by Don Cardi:
[quote]Originally posted by MistaMista Tom Hagen:
[b] Wow, a lot of animosity for a white-collar criminal. Wow, a white collar criminal who just happened to wipe out the retirement accounts of all those who worked under him. Wow, a white collar criminal who's greed and theivery just happened to wreak havoc on an entire nation's economy. Yeah, go tell the gentleman who worked 30 years and 'thought' that he had $200,000 in pension money coming to him but wound up with a big fat 0 that there is a lot of animosity towards someone who is, in your words, ONLY a white collar criminal. I retract what I said earlier when I posted that he should have died ten years ago. What I should have posted instead was that He should have died at birth. The son of a bitch. Don Cardi [/b][/quote]So then what about those company's that are forfieting on their pension plans even today? There was something in West Virginia, or someplace like that where these workers who were getting ready to retire had no money because of their company. They had to go find other jobs because of this. So Enron and Ken Lay were not, and are not the only ones stealing from the employees.
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Re: Enron founder Ken Lay dies, 64
#161426
07/05/06 08:12 PM
07/05/06 08:12 PM
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Joined: Jul 2006
Posts: 50
Martin Joseph
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Posts: 50
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Originally posted by xXx_DoN_CoRLeOnE_xXx:
[quote]Originally posted by Martin Joseph:
[b]So then what about those company's that are forfieting on their pension plans even today?
There was something in West Virginia, or someplace like that where these workers who were getting ready to retire had no money because of their company. They had to go find other jobs because of this.
So Enron and Ken Lay were not, and are not the only ones stealing from the employees. Please...tell us where in that post does Don Cardi (or anybody else in this thread, for that matter) label Ken Lay and Enron as the only company to embezzle money. [/b][/quote]No body said Ken Lay or Enron were the only ones, and I was simply saying that there are so many other company's doing this very thing. I was not saying that what Don Cardi posted was wrong, I was simply saying that they are not the only ones.
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Re: Enron founder Ken Lay dies, 64
#161427
07/05/06 08:16 PM
07/05/06 08:16 PM
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Joined: Jul 2006
Posts: 50
Martin Joseph
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Originally posted by bogey:
[quote]Originally posted by Martin Joseph:
[b] So then what about those company's that are forfieting on their pension plans even today?
There was something in West Virginia, or someplace like that where these workers who were getting ready to retire had no money because of their company. They had to go find other jobs because of this.
So Enron and Ken Lay were not, and are not the only ones stealing from the employees. I do believe you might be talking about my hometown there. I've got a full rant prepared, but I don't want to do it unless you're talking about Weirton. That, and I don't want to hijack xDC's thread. [/b][/quote]I'm in college and a student who is from there mentioned it, but I'm not sure where. He said, but I can't remember, so it could be the same place.
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Re: Enron founder Ken Lay dies, 64
#161431
07/06/06 12:20 AM
07/06/06 12:20 AM
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Joined: Jan 2003
Posts: 1,886
Folsom Prison
DonFerro55
Underboss
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Underboss
Joined: Jan 2003
Posts: 1,886
Folsom Prison
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My Theory:
He actually paid off certain government officials and left the country. I want to see a dead body. Otherwise he'll be scamming Jamacians out of Conch Shell sales and Ganja in no time at all.
Listen to Warren Zevon's "Mr. Bad Example" to see what I mean.
The Doc
And you liar, teller of tall tales: you trample all the Lord's commandments underfoot, you murder, steal, commit adultery, and afterward break into tears, beat your breast, take down your guitar and turn sin into a song. Shrewd devil, you know very well that God pardons singers no matter what they do, because he can simply die for a song.
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Re: Enron founder Ken Lay dies, 64
#161432
07/06/06 08:35 AM
07/06/06 08:35 AM
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Joined: Mar 2003
Posts: 12,724
Double-J
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Joined: Mar 2003
Posts: 12,724
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Originally posted by Don Cardi:
[quote]Originally posted by MistaMista Tom Hagen:
[b] Wow, a lot of animosity for a white-collar criminal. Wow, a white collar criminal who just happened to wipe out the retirement accounts of all those who worked under him. Wow, a white collar criminal who's greed and theivery just happened to wreak havoc on an entire nation's economy. Yeah, go tell the gentleman who worked 30 years and 'thought' that he had $200,000 in pension money coming to him but wound up with a big fat 0 that there is a lot of animosity towards someone who is, in your words, ONLY a white collar criminal. I retract what I said earlier when I posted that he should have died ten years ago. What I should have posted instead was that He should have died at birth. The son of a bitch. Don Cardi [/b][/quote]...as well as the stockholders who watched their stocks go from booming to zero in an instant, and lost billions in the process.
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