A Quote by Robert Kiyosaki
During the Enron debacle, it was workers who took the pounding, not bankers. Not only did Enron employees lose their jobs, many lost their retirement savings. That's because they were at the bottom of the investing food chain.
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The only beef Enron employees have with top management is that management did not inform employees of the collapse in time to allow them to get in on the swindle. If Enron executives had shouted, "Head for the hills!" the employees might have had time to sucker other Americans into buying wildly over-inflated Enron stock. Just because your boss is a criminal doesn't make you a hero.
The CEO of Enron, Jeffrey Skilling, married one of the Enron secretaries this week. It's amazing how romantic these Enron guys can be when they realize that wives can't be forced to testify against their husbands. Skilling said today she was the best secretary Enron had ever had. She could shred 950 words a minute. ... I guess they are on their honeymoon right now. That's going pretty well. Hey, he's used to screwing Enron employees.
Many Enron employees lost 70 percent to 90 percent of their retirement assets after the company indicated that it would re-state profit reports.
Most unfortunately, Enron's plunge into bankruptcy court also cost many of its rank-and-file employees their savings.
Enron's president, Ken Lay, passed away last week. So, I guess even God lost money on that Enron deal. I believe the official cause of death was listed as "karma." The family asked in lieu of flowers, please send some elderly retiree's entire life savings.
I remember when I did my Enron film, my executive producers at the time felt very strongly that I should mock the Enron executives more viciously because everybody wanted that moment.
Before the New York Times starts running "Portraits in Grief" of former Enron employees, it's worth remembering that even after the collapse, Enron stock is still worth more than the entire Social Security "trust fund."
I happen to represent Enron here in Houston. We have many good corporate citizens here in Houston. Enron happened to have been one.
Buying only what you know can end in disaster. Just think about Enron's employees and business partners, the 'locals' who bought lots of its stock because they thought they were in the know.
Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case.
Before Enron, I think people were a bit more naive about the way things worked, and I think Enron pulled the curtain back on unsavoury practices that turned out to be a lot more widespread.
The not-quite-sort-of lie works here too - often an ad will announce that "Congressman Johnson voted for a bill that gave tax breaks to companies like Enron." True - although the bill allowed all companies to accelerate depreciation of copying machines. Yes, Enron benefited, but Enron also benefited from the revolution of the Earth around the sun. Hardly an argument to freeze the planet in one spot.
When top executives get huge pay hikes at the same time as middle-level and hourly workers lose their jobs and retirement savings, or have to accept negligible pay raises and cuts in health and pension benefits, company morale plummets. I hear it all the time from employees: This company, they say, is being run only for the benefit of the people at the top. So why should we put in extra effort, commit extra hours, take on extra responsibilities? We'll do the minimum, even cut corners. This is often the death knell of a company.
In the Enron scandal, whistleblower Sherron Watkins is now calling herself Enron Brokovitch. She testified Ken Lay was duped by the other executives. Oh, yeah. When is the last time you got duped and made $100 million?
The Houston Astros want to change the name of Enron Field where they play. I guess the Enron name could cause problems for them. Like players could steal a base and then deny it.
It turns out Enron workers were not only shredding documents at work, they were having sex at work. Having sex and shredding documents. Those are two things you don't want to get mixed up.
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