Re "Collapse of Merger Pushes Enron to Brink of Ruin," Nov. 29: Enron Chairman Kenneth L. Lay not only stuck it to California electricity consumers, he also was one of the main players in the current Bush-Cheney energy policy developed behind closed doors that will favor oil and energy producers and bleed consumers all over the U.S. for years to come.
Lay has been a good friend of former President George Bush's for many years, and this friendship has made Lay much more money than the $145 million that he cheated his own employees in order to get. Lay was one of the biggest contributors to George W. Bush in his races for governor of Texas and president. He helped finance George W. Bush's inauguration bash.
\o7 Manhattan Beach
Enron's impending bankruptcy reeks of a classic mob-style bust-out. First, the setup: energy deregulation in California. Next, the sting: price-gouging and profiteering during California's energy crisis. Then, the bust-out: Enron executives sell massive personal stock holdings at $80-plus per share. And last, the fallout: bankruptcy, with common shareholders of Enron and the citizens of California wondering what happened.
Hey, Kenneth Lay, can you say "RICO"?
\o7 Van Nuys
Thank you for "Enron's Many Victims" (editorial, Nov. 28). It is an outrage that while thousands of Enron's hard-working employees found their hands tied by management as their retirement accounts were decimated, the company's corporate chieftains--whose "leadership" destroyed the once-mighty entity--will be able to lead the rest of their lives in indescribable luxury. Even more outrageous is the sad fact that this scenario has almost become the rule and not the exception. How long before employees and shareholders alike take action against this near-criminal philosophy so ingrained in today's corporate culture?
\o7 Los Angeles