Kenneth Lay says his underlings did bad things, but he was ignorant of them. The media frenzy sparked by Enron’s collapse is why the Justice Department is after his scalp. California’s power woes? California’s deregulation scheme caused them. Not Enron.
Coincidentally, Duke Energy, another utility that bilked California, is paying off a $207.5 million settlement with that state and Washington and Oregon.
In my next incarnation, I want to be CEO of a major corporation. They get megabucks no matter how the company fares. fawning portraits in Fortune, Forbes and Business Week write fawning portraits of them as swashbuckling leaders. They are winded and dined at the White House, no matter what party occupies the Oval Office.
And - this is the best part - when things go wrong, they explain they were ... ahem ... poorly informed.
Posted by mark justice hinton at July 17, 2004 01:16 PM