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Enron's Kenneth Lay Dies

Don420 writes "This morning the biggest corporate criminal in modern history, Kenneth Lay, died of a massive coronary before he could receive his sentence. Lay was found guilty of being in charge of the scheme that had many lose their live-savings through a scheme of complex offshore holdings and is to thank for our having to live with Sarbanes-Oxely." From the article: "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."

82 of 868 comments (clear)

  1. How Convenient... by TripMaster+Monkey · · Score: 4, Interesting

    Kenneth Lay tragically passes away due to a massive heart attack before he receives his sentence. Impeccable timing...

    Two possible scenarios (in addition to the official version of events) come immediately to mind:

    • Ken was going to roll over on Dubya & Company, and was 'neutralized',
        - or -
    • Ken faked his own death and is currently laughing himself sick under a palm tree somewhere.


    Either scenario seems equally likely, and much more likely than 'Ken keeled over because he couldn't keep his LDLs in check'.
    --
    ____

    ~ |rip/\/\aster /\/\onkey

    1. Re:How Convenient... by rhsanborn · · Score: 5, Insightful

      You're kidding right...? The guy is 64 years old and has been dealing with a high stress situation for 5 years. I don't suppose that could have anything to do with it.

      But hey, let's jump to the completely absurd conspiracy assumption as "much more likely" than the fact that "coronary heart disease (CHD) is the single leading cause of death in America." (American Heart Association, 2003 study).

      I'll leave open the possibility of suicide, but I think it unlikely. There are far more convenient ways to kill yourself.

    2. Re:How Convenient... by Anonymous Coward · · Score: 5, Funny

      "not everything is a conspiracy"
      That's EXACTLY what THEY want you to think!

  2. I won't believe it.... by dr_strang · · Score: 4, Interesting

    until I see a body. Just a little too convenient. /where the hell's my tinfoil hat?

    --
    This is a sig. It is like every other sig in the world, except that it is mine, and it is different.
    1. Re:I won't believe it.... by WindBourne · · Score: 4, Informative

      And even then, do not believe it. It is fairly easy to substitue another body with a little bit of makeup. If you really wish to know, then you only have one way to know; DNA.

      --
      I prefer the "u" in honour as it seems to be missing these days.
  3. Re:Another perspective on Ken Lay... by calbanese · · Score: 5, Insightful

    Ted Bundy was polite and charming too.

  4. Ding dong, the witch is dead by Buran · · Score: 3, Interesting

    Why is it that the ones who deserve the most punishment for what they've done always conveniently die or vanish before they can be punished?

    Resurrect him, I don't care how, then punish him most painfully, then re-kill him, as far as I'm concerned.

    Oh, and let's parade photos of his dead body through the streets just like we did with that dead terrorist a few months ago.

    Prove he's dead.

    1. Re:Ding dong, the witch is dead by vought · · Score: 4, Insightful

      A person who puts all their money into one security isn't investing or saving, they're gambling.

      So, when your company handles your 401(k) and your Employee Stock Purchase Program, then urges you by incentives to put more and more of your liquid capitol into the company's sinking stock...because it's such a good deal right now... whose fault is that?

      If we're going to treat corporations as people in the eyes of the law, then we should have every right to take punitive action against the "person" who caused all the misery. Enron defrauded stockholders and customers - that means they lied about the actual worth of their stock and assets. Fuck the "should have known better" crowd.

      When companies start telling employees to stay out of the ESPP because it's a bad deal, then you can talk about "they should have known better" - but most companies push their own stock on employees like day-old bread, and employees for the most part are content to sit there and lap it up. There's no time or much interest in "individual investing" when companies make it so easy these days.

    2. Re:Ding dong, the witch is dead by Yekrats · · Score: 5, Informative
      Where did it all go, friend?

      Well, I know you will be shocked (SHOCKED!) to find out that a good chunk of dough (to the tune of several hundred-thousand dollars) went to Mr. Bush and Mr. Cheney.
      --
      Ceci n'est pas une pipe.
    3. Re:Ding dong, the witch is dead by jdray · · Score: 3, Informative

      It's a lesson learned. The stock devaluation was hard to swallow, but, as you say, made by greed. What about the part where we were locked out of our 401K accounts when the stock was worth $22 a share and plummeting? We could have recovered some, or at least stopped the bleeding. By the time we were allowed back into our accounts to redistribute the money, there wasn't any left.

      --
      The Spoon
      Updated 6/28/2011
  5. they're right! by Trailer+Trash · · Score: 4, Funny

    So, now everybody here who keeps saying "Ken Lay did blah blah blah and never faced any jail time" is actually right.

    I hope BSD isn't really dying...

    1. Re:they're right! by whoever57 · · Score: 3, Insightful

      Exactly right. Personally, I'm against the death penalty. Rotting in jail for the rest of someone's life, with the only prospect of dying there is worse (or it should be worse).

      --
      The real "Libtards" are the Libertarians!
  6. In related news... by Anonymous Coward · · Score: 5, Funny

    Construction has begun at the Hope Memorial Cemetery to install new drainage tiles in anticipation of the 4,000+ people expected to arrive within the next week to piss on Mr. Lay's grave.

  7. I just heard some sad news by caluml · · Score: 5, Funny

    I just heard some sad news on talk radio - Ethical paragon Kenneth Lay was found dead in his Colorado home this morning. There weren't any more details. I'm sure everyone in the Slashdot community will miss him - even if you didn't enjoy his work, there's no denying his contributions to business culture. Truly an American icon.

    1. Re:I just heard some sad news by Scaba · · Score: 3, Funny

      At least we know he's in heaven now, with all of the other rich white guys.

    2. Re:I just heard some sad news by Minwee · · Score: 4, Funny

      "Truly an American icon."

      I think there's an extra 'I' somewhere in that statement.

  8. Looks like instead of prison time.... by gmb61 · · Score: 3, Funny

    God opted for the death penalty.

  9. Life Insurance by Yoda2 · · Score: 4, Interesting

    Interesting that any life insurance he held will still go to any named beneficiaries and cannot be tapped to help settle for any judgments/judgements against him.

  10. Re:Another perspective on Ken Lay... by jcr · · Score: 4, Insightful

    So were Carlon Ponzi and Reed Slatkin. It's a common trait among perps in the con game.

    -jcr

    --
    The only title of honor that a tyrant can grant is "Enemy of the State."
  11. Damn Right! by fm6 · · Score: 5, Insightful

    Sure, nobody just keels over and dies from a heart attack. That never happens. And anybody who talks about "stress factors" like being pilloried in front of millions of people or facing spending the rest of his life in prison, is just spreading misinformation. And if you mention the fact that he was in his 60s, you've just got your head up your ass.

  12. Doubt it's faked... by Churla · · Score: 4, Insightful

    I doubt it's faked.
    I doubt it was the government, because they want to see him punished as a way of showing that they're "tackling" the problem.
    I doubt it was cholesterol either... as he would have been on any medication around to stop that.

    My bet is that facing a very probable "rest of your life in real actual PMITA prison" (A 20 year sentence would ahve effectively been life for a man of his age) the stress got him.

    At least he saved us the tax dollars it would have cost to shelter and feed him.

    --
    I'm a fiscal conservative, it's a pity we don't have a political party anymore
    1. Re:Doubt it's faked... by Bastian · · Score: 4, Informative

      I doubt it was cholesterol either... as he would have been on any medication around to stop that.

      It seems to me that you're suggesting that people who are on cholesterol medication never die of coronary heart disease. Really, they only lower the mortality rate by about 10%, making them less effective than a good cholesterol reduction diet. Of course, neither is a magic bullet - he could have been on Lipitor and eating Ornish and he'd still be under a high risk of dying from heart disease if he already had off-the-wall cholesterol levels.

  13. Biggest Corporate Criminal? by ackthpt · · Score: 3, Interesting

    Really, Lay wasn't the architect, he just covered it up until he could figure out how to get away from the mess without it sinking him. If you want to know more about who really created the fiasco, watch Enron: The Smartest Guys in the Room and see. Also see how the present administration was complicit in the California Energy Crisis.

    --

    A feeling of having made the same mistake before: Deja Foobar
    1. Re:Biggest Corporate Criminal? by DigiShaman · · Score: 3, Informative

      Also see how the present administration was complicit in the California Energy Crisis.

      Explain please. Sounds like your spreading FUD. Wiki covers this issue fairly well here.

      --
      Life is not for the lazy.
  14. Re:Another perspective on Ken Lay... by vancondo · · Score: 5, Funny

    Ted Bundy was polite and charming too.

    Well that does it! No more hanging around polite charming people for me. From now on I'm only going to associate with people that have demonic beady eyes and fresh blood dripping from their chin.

    ..unless the polite charming people also have a lot of money

    --
    -
  15. Re:Another perspective on Ken Lay... by MrSquirrel · · Score: 3, Informative

    He did not grow Enron from nothing, it was simply a merger of two large energy corporations:
    "Lay worked in the early '70s as a federal energy regulator. He then became undersecretary for the Department of the Interior before he returned to the business world as an executive at Florida Gas. By the Reagan administration, when energy was deregulated, Lay was already an energy company executive and he took advantage of the new climate by merging Houston Natural Gas Co. with Nebraska-based Inter-North to form Enron in 1985."
    http://en.wikipedia.org/wiki/Ken_Lay

    --
    A computer once beat me at chess, but it was no match for me at kick boxing.
  16. Playing the trump card by El_Smack · · Score: 4, Funny

    God for the win!!!

    --


    There are 01 kinds of cars in the world. The General Lee, and everything else.
  17. Is there *ANY* event... by Quiet_Desperation · · Score: 4, Funny
    ...these days that does not bring out the conspiracy yahoos?

    Seriously, some days I just want to punch all the cryptoloons in the balls. And if they don't have balls, I'll graft donor balls onto them and punch those.

    Damn, I need more vacation.

  18. At least.. by MImeKillEr · · Score: 4, Insightful

    .. he saved the state some $ now that they don't have to warehouse him in jail.

    I wonder how much that was...

    --
    Cruising the internet on my TI-99/4A @ a whopping 300 baud!
  19. That's nice... now stamp those plates! by TopShelf · · Score: 5, Insightful

    Sometimes, it's the rags-to-riches types who go to these extremes, because they're deluded by their own success into believing that they can pull off just about anything, and even in their darkest hour, they've got a plan for wriggling out and turning things around. I'm sure at some point in this whole saga, Lay and Skilling and the rest had a few moments of trepidation when they were crossing the legal line, but a few rationalizations later, they're off and running and all that is in the rearview mirror.

    That hard-working, affable manner doesn't excuse their crimes in the least. Let 'em put those skills to work in federal, PMITA prison.

    --
    Stop by my site where I write about ERP systems & more
  20. Re:Another perspective on Ken Lay... by 93,000 · · Score: 4, Funny

    Well that does it! No more hanging around polite charming people for me. From now on I'm only going to associate with people that have demonic beady eyes and fresh blood dripping from their chin.

    Hello new friend! Wanna go throw rocks at my neighors cat?

  21. Re:I bet God can't take just one! by lbrandy · · Score: 4, Insightful

    Dear God, for the sake of humanity, please take the rest of those corrupt Republican potato chips!

    PS. God, no need to worry about the Democratic corrupt. We recognize that red-state/blue-state is really the fight between good and evil, and, as such, in times of people losing their entire life's savings and others dying young, the most important thing is whether or not another state switches to my color. GO TEAM GO

    /sarcasm

  22. Whats so bad about Peace, Love and Sarbanes-Oxley? by Tiger4 · · Score: 5, Insightful

    OK, everybody knows they can do anything better than anyone else, and there is no real point to following rules created by others. But, in order to end the fighting and constant bickering, we put up with these little annoyances called rules, regulations, and laws. Given that they are silly and pointless, what Other Reasons could there be to not increase corporate financial accountability?

    Seems to me anything that puts the CEO, COO, CFO and every other cheif of a company right in the line of fire for criminal and civil liability is a good thing. The Board Officers should be there too of course. To me, the CEO and Chairman are like the Captain of a ship or a Genereal on the battlefield. You Are in Charge and You Are Responsible. If you say the company is in XYZ condition, it damn well ought to be and if we can prove you lied about it, you go to prison. Youd don't get to hide by saying, "the underlings run the company and I don't have a clue". Nothing should be hidden from "conventional interpretation" by some warped usage of accounting and bookkeeping practices. If you want to create a high risk, closed box operation, there are legal ways to do that without hiding it from your investors.

    Sunlight and visibility in all the operations should be normal operating procedure, not an inconvienience to be endured.

    --
    Behold, this dreamer cometh. Come now, and let us slay him... and we shall see what will become of his dreams.
  23. Re:Another perspective on Ken Lay... by Pope · · Score: 4, Insightful

    In other words, total bullshit. http://en.wikipedia.org/wiki/Ken_Lay

    "Lay worked in the early '70s as a federal energy regulator. He then became undersecretary for the Department of the Interior before he returned to the business world. He became an executive at Florida Gas. By the Reagan administration, when energy was deregulated, Lay was already an energy company executive and he took advantage of the new climate by merging Houston Natural Gas Co. with Nebraska-based Inter-North to form Enron in 1985,

    Lay was one of America's highest-paid CEOs, earning (for example) a $42.4 million compensation package in 1999.[1] Lay sold large amounts of his Enron stock in September and October of 2001 as its price fell, while encouraging employees to buy more stock, telling them the company would rebound. Lay liquidated more than $300 million in Enron stock from 1989 to 2001, mostly in stock options."

    Yeah, that's a real "built the company from nothing" story. Where's my rolleyes smiley?

    --
    It doesn't mean much now, it's built for the future.
  24. Do you remember brownouts? by myth_of_sisyphus · · Score: 5, Informative

    At the end of the dotcom bubble I was working in downtown San Francisco. We used to have rolling blackouts and everybody would leave the building for a couple hours and enjoy themselves. Anyways, the servers weren't running and nobody was making money (except for the CEOs, they always make money.)

    I asked my brother, an electrician at a Bay Area biotech, what the hell was going on and he didn't know.

    It turns out that this fucking company Enron was turning off power-plants willy-nilly so they could profit off the spike in energy consumption somehow. So, while hospitals and grandma Millie are sitting in the dark these jackasses in Texas are laughing their asses off all the way to the bank.

    It also turns out that our pussy governor could have sent the National Guard to ONE fucking powerplant and took it over. When the assholes from Enron call to take it offline they would pick up the phone: "could you turn the power off so we can spike the grid and make a lot of money?" "Uhhhh, this is Col. Soandso of the California National Guard. Who's this?" "Nevermind..." hangup. (Enron stops shenanigans.)

    Oh well, Ken Lay, may you rot in the eighth circle of Dante's Hell: reserved for those guilty of deliberate fraudulent evil.

    1. Re:Do you remember brownouts? by AK+Marc · · Score: 5, Insightful

      One of the main problems is the enviros in Cal prevented new power plants from being built in the state since the 1970's.

      Currently, there are no new plants in CA, no Enron, no blackouts. Since there was only one variable changed, I think I can guess the one most closely correlated with the blackouts.

    2. Re:Do you remember brownouts? by sheldon · · Score: 5, Funny

      Umm...

      I'm not quite sure where Enron fits in there but certainly they were not the only companies messing with the market, and in the end it was the regulators' fault for allowing the market to be messed with in the first place.

      LOL!

      Where do the Enron Traders who were taped by the Snohomish Public Utility fit into this?

      I think it's funny how you start off your argument claiming the problem was not enough deregulation, and then you end it by blaming the regulators for not regulating enough.

      You sound like a Republican... can't tell the difference between his head and his ass.

    3. Re:Do you remember brownouts? by calstraycat · · Score: 5, Informative

      Anyway, the main reason for those California blackouts was poor public policy: Holding residential rates constant while forcing companies to buy power on the spot market, often selling power at a loss. Meanwhile prohibiting building new power plants to satisfy the environmental lobby.

      How did this steaming pile of lies and deflection of true responsibility get moded to 5?

      The "it's the environmentalists fault" explanation has been completely discredited. The state has more than enough capacity. Enron and other energy-related concerns were deliberately shutting down generating plants to create a phony energy shortage.

      But, go ahead and continue to spread the lies. Given the moderation you received, many still want to believe that fault lies with it's those damned tree huggin' hippies rather than criminals like Lay.

    4. Re:Do you remember brownouts? by Jah-Wren+Ryel · · Score: 3, Insightful

      Only one variable changed?

      You are ignoring the context of his post. He was responding to a post that essentially blamed "enviros" for the california energy crisis. Since the "enviros" have presumably not gone away, yet the energy crisis is ancient history, it is hardly plausible that the "enviros" were the cause in the first place.

      --
      When information is power, privacy is freedom.
  25. Re:Another perspective on Ken Lay... by g_adams27 · · Score: 4, Interesting

    The world may never know exactly how much Ken Lay was involved in the whole Enron fiasco. But although he probably wasn't nearly as devious and manipulative as CEO Jeff Skilling or CFO Andy Fastow, Ken Lay was still the captain of the ship and deserves much of the blame for Enron's collapse.

    From what I've read of him, Ken had several flaws:

    1. He was far more interested in the trappings of power (luxury homes, expensive jets, etc.) than running a multi-billion-dollar company. So he let his underlings do it for him.
    2. He had a great aversion to interpersonal conflicts, so he rarely ever told anyone "no". It was common knowledge among the top execs that Ken was a pushover - just threaten to quit, and you could have whatever you wanted.
    3. Because of #1 and #2, he wouldn't or couldn't control the executives under him, who ran wild as a result.
    4. I tend to suspect that the oh-so-clever accounting techniques and special purpose entities Andrew Fastow cooked up to keep Enron's debts off their books was far more complicated than Ken could understand. (They're certainly too much for my little brain.) But instead of asking tough questions, Ken just shrugged and signed off on them.

    So although Ken may not have been the greedy manipulator that his underlings were, he reminds me a lot of a pleasant, but wimpy and passive dad who's let his children run wild with no discipline from their earliest days, then protests that he's not to blame when they turn into terrors 10-15 years later.

    For a fascinating account of the rise and fall of Enron, I would highly recommend the book The Smartest Guys In the Room. You don't have to understand all the arcane ins-and-outs of accounting to follow the story, which really is pretty fascinating. (I believe there's a documentary movie based on the book as well...)

  26. "He Didn't Fall..." by Philip+K+Dickhead · · Score: 4, Interesting

    "He was pushed... They "Cliff Baxter'd" Kenny. You know Cliff, he's the guy who committed suicide with the wildly innacurate and seldom lethal shot cartridges, that also make it forensically challenging to plot ballistic trajectory.

    Kenny-boy suggested the VP role for Cheney to the Shrub. He was part of the "energy taskforce" that they are so desparate to keep under wraps. Like Dr. Kelly... Like... The list is big and convenient.

    Or did his poor heart break, because it was too good for this world? I don't think so!

    Another crony about to sing like a Canary to cop a plea...

    --
    "Speaking the Truth in times of universal deceit is a revolutionary act." -- George Orwell
    1. Re:"He Didn't Fall..." by Thalagyrt · · Score: 5, Funny

      He had a heart attack because his arteries were embezzeling mass amounts of blood from his capillaries!

      *badum ching*

      --
      Buffalo buffalo Buffalo buffalo buffalo buffalo Buffalo buffalo!
  27. Slashdot perspective by KeeghanMacAllan · · Score: 3, Funny

    "This morning the biggest corporate criminal in modern history, Kenneth Lay, died of a massive coronary before he could receive his sentence."

    Now THAT is what I call a karma mod!

  28. Farewell Ken by Keichann · · Score: 5, Funny

    Posterity will ne'er survey
    A nobler grave than this:
    Here lie the bones of Kenneth Lay:
    Stop, traveller, and piss.

  29. Re:Show some humanity by Oz0ne · · Score: 5, Insightful

    Hi. Respect is EARNED.

    What value would respect have if it was given freely and equally regardless of what a person is or does? What would be the point. This man was a criminal, and through his direct actions and deceipt harmed thousands of lives. Why should anyone respect that?

    Perhaps people should respect his family, but this man dug his grave years ago.

  30. Re:Another perspective on Ken Lay... by Ebirah · · Score: 5, Funny

    Oh my god, they killed Kenny!

    --
    It's never so bad that it can't get worse.
  31. Re:Another perspective on Ken Lay... by ObsessiveMathsFreak · · Score: 4, Insightful

    A guy eulogizes someone who he had a good deal of respect for and you piss on his grave.

    Need anyone be reminded of the thousands of employees, shareholders and suppliers that the late Mr Lay metaphorically urinated, on as he profited from their misfortune? Who eulogizes for them?

    --
    May the Maths Be with you!
  32. His end was too good for him by bluemeany271828 · · Score: 3, Informative

    After seeing "The Smartest Guys in the Room" and learning about how he screwed honest people out of their life-long savings, this SOB should be rotting in a jail cell. One worker in the movie had $300,000 in company stock (his entire life savings) in his 401k - and had to cash it in for $1200. The guy was in his late 50's. I'm just sad nobody choked him like a bitch before he died. A heart attack was just too easy for this scumbag.

  33. Re:As a republican, I'd like to say... by Mister+Whirly · · Score: 3, Insightful

    As a human being, I'd like to say the same...

    --
    "But this one goes to 11!"
  34. Re:Another perspective on Ken Lay... by fermion · · Score: 4, Interesting
    First, there are many rich people in Texas. Many of these people have more pathetic rag to riches stories than Ken Lay. Rising from nothing to person of wealth is nothing extremely inteseting. It is the American dream, and is possible for those who wish to work. The thing with Ken Lay was, as oppossed to most wealthy people in Texas, is he appered to have no morals or humility.

    Second, I have never though of being the child as a preacher as a necessary asset. A preacher asks for money in the name of god, not for the value of a direct service or product. There was a time when this was ok, like for a King or a Lord or something, where the sefs starved while one sat in a guilded highrise. But America now mostly knows that work is what brings wealth, and there is no cosmic cash machine. However, if one is raised on the principle of entitlement, then one might do anything to insure that entitlement.

    Third, independent persons with knowledge knew Enron was bad juju. I myself was told by those in the know to stay away. It was not just that Enron was encoraging staff to buy Enron stock, almost every company was guilty of that practice. It was not just that Enron was booking and paying commission on sales that generated not positive cashflow. Again, that was a standard dot com practice. Rather, it was the products made no sense and there was no core direction. As was suspected before the fact, and known after, the products were shills of productivity.

    In the end Ken Lay was nothing special except for his cluelessness and lack of humility. Many people realized he was simply incompetent, and would have accepted a statement of responsibility and an apology. Rather, he his behind technicalities and avoided the responsiblities that were ultimately his as the head of the enterprise.

    --
    "She's a scientist and a lesbian. She's not going to let it slide." Orphan Black
  35. Oh, the irony by PCM2 · · Score: 5, Insightful
    I read down to the very bottom of the page and read today's randomly-generated quote:
    Dishonor will not trouble me, once I am dead. -- Euripides
    --
    Breakfast served all day!
  36. Re:What The F!CK by dracphelan · · Score: 3, Interesting

    Let's see. While this person who has done no physical harm (and is a first time offender) is awaiting sentencing which murederer, rapists or other violent felon should we kick out to make room for him. (At a cost of almost $3000 a month.) I have a friend whose husband threatened her and her son's life and had a 7 hour stand-off with the police. The stand off ended after the police had fired over 12 rounds of tear gas in the house. He got out of jail less than a month later on a plea bargain. In a court hearing today on a protective order, he again threatened her and this time included her friends. Who is the one who needs to be in jail more? Yes, Ken Lay and many other people harmed the finances of many people. However, IMO, there are people walking around free who deserve prison time much more than they do.

  37. Re:Show some humanity by K8Fan · · Score: 4, Insightful
    Assuming that he is in fact dead, aren't we forgetting something? Irrespective of what he presided over and did, he was a human being. He doubtless had people who cared about him, who will be mourning his death.

    And how many people's lives did "Kenny-Boy" (GW Bush's nickname for him) destroy with his evil fun? How many people died of heat stroke because their manipulation of energy prices? How many committed suicide because their savingand retirement was wiped out?

    He was evil. And the theft he committed was so senseless because he HAD millions, and wanted billions. This was not a man stealing to feed his family, this was an already rich man stealing and more importantly building a huge criminal enterprise and corrupting others to steal far more than any person could ever possibly spend in a thousand lifetimes.

    He was an evil troll, and I think the possibility exists that his death was faked is credible. He hurt more Americans than Zarqawi, and an honest tally would likely show that he was responsible for more deaths. Pissing on his grave is the least of the insults he deserves. Until these bastards who steal billions actually face the death penalty "business ethics" will remain an oxymoron.

    --
    "How perfectly Goddamn delightful it all is, to be sure" Charles Crumb
  38. Re:Show some humanity by SeattleGameboy · · Score: 4, Insightful

    Did Kenny Boy show respect for people who lost their life savings? I am sure there were MANY people who died in similar fashion to Kenny Boy after realizing their life savings were gone. Did he show repect for them? As to their family, his wife KNEW his husband was a fraud and in trouble, did she show respect for others who can't afford to spend millions on their birthday party? Did he kids who financially benefitted GREATLY from their "good ol" dad, return some of their ill-gotten gains to those who lost everything? HELL NO!!! The world is a better place now that Kenny Boy is no longer with us. And if his greedy bastard family is upset about that, so WHAT???

  39. I Don't Think So... by Greyfox · · Score: 5, Insightful
    It's not Karma when someone dies. Everyone dies eventually.

    What's Karma is when you have everything you worked your entire life to build destroyed before your eyes because you got greedy and stole a lot of people's money. Which was in the process when he died. I suspect that a large portion of the fortune he's leaving behind will go to the US Government instead of his surviving family.

    Ken Lay fucked up the lives of a lot of people. Thousands of Enron ex-employees will not be able to retire thanks to his actions. I doubt those people will feel vindicated by his death. I suspect that there will be some very bitter Wal-mart greeters in the next 20 years. Even his heirs won't be on solid ground given the controversy over his fortune. I'd suggest striking his name from the history books except that those who do not learn from history are doomed to repeat it.

    --

    I'm trying to teach myself to set people on fire with my mind... Is it hot in here?

  40. Another side effect of Lay's death by Scareduck · · Score: 5, Interesting
    According to the Wall Street Journal Law Blog , Lay's death might cause his conviction to be expunged.
    Question: What happens to Lay's conviction?

    Answer: Lay's conviction might be expunged, says criminal law professor Peter Henning in a fascinating post on the White Collar CrimeProf blog. Citing Fifth Circuit law (the federal jurisdiction encompassing Houston), Henning says that when a defendant dies before appellate review of a conviction, the death "abates, ab initio, the entire criminal proceeding." In a recent Fifth Circuit decision, United States v. Estate of Parsons, the court explained that "the appeal does not just disappear, and the case is not merely dismissed. Instead, everything associated with the case is extinguished, leaving the defendant as if he had never been indicted or convicted." The Fifth Circuit explained the rationale for the rule: "The finality principle reasons that the state should not label one as guilty until he has exhausted his opportunity to appeal. The punishment principle asserts that the state should not punish a dead person or his estate."

    --

    Dog is my co-pilot.

    1. Re:Another side effect of Lay's death by cpu_fusion · · Score: 3, Interesting

      Will this protect his estate from civil cases, I wonder.

      If so, it would inspire suicide intended to clear one's name, and protect one's $$$ from being taken from offspring.

  41. Re:As a republican, I'd like to say... by grammar+fascist · · Score: 3, Insightful

    As a human being, I'd like to say the same...

    I admire your humanity and deep sense of empathy.

    --
    I got my Linux laptop at System76.
  42. Re:Ken Lay -- serial killer? by dsgitl · · Score: 3, Insightful

    Give. Me. A. Break.

    Working stiffs need to diversify their portfolio? Sure. How many 9-to-5ers do you think putting away $60 a paycheck had the wherewithal to take investing classes for their $10,000 retirement kitty? How many of them do you imagine had financial consultants on payrool?

    Please. If I mug you the day you happen to have your laptop, iPod, cellphone, PSP, and engagement ring for your girlfriend on you, is it your fault? All those Cambodians get blamed because they put all of their eggs (i.e. their lives) in one basket by living in Cambodia?

    Don't be an apologist stooge. It's unbecoming.

  43. Re:Another perspective on Ken Lay... by badmammajamma · · Score: 5, Insightful

    Ken Lay was a piece of shit. I couldn't care less if he blew sunshine up the ass of people who worked around him to make them think he was a great guy. Personally, I'm deeply saddened that the thieving fuck won't rot in jail the rest of his life like he fucking deserves. Of course, a better sentence would have been to put him in a room for 30 minutes with all the people he fucked over but that's of no avail now either. If it were up to me, I'd open a monument on his grave that invites people to come piss on it.

    Oh, and anyone who respected Ken Lay deserves to get pissed on too.

    *anxiously awaits to get modded down* :)

    --
    Any man who afflicts the human race with ideas must be prepared to see them misunderstood. -- H. L. Mencken
  44. Re:I Miss Monica - Ode to an Intern by ScentCone · · Score: 4, Interesting

    The Republicans are just more blatant about it

    Blatant? How about a sitting senator that considers naming everything in West Virginia after himself to be his top priority? That, and having his friends in the road business pave it over with your tax dollars. That is pretty blatant... but it's not nearly as delicious as a congressman with $90,000 in his freezer. No, blatancy is not peculiar to one party or the other.

    --
    Don't disappoint your bird dog. Go to the range.
  45. Re:Show some humanity by kahei · · Score: 3, Insightful

    Irrespective of what he presided over and did, he was a human being.

    Well, arguably.
    That was a joke.

    no matter what sins he committed in life, we should show some respect

    Why?
    That was serious.
    I suppose showing respect to him now would be a good way to piss on the people he defrauded and the society he helped make a little more unjust -- but I guess I don't see why you'd want to that.

    --
    Whence? Hence. Whither? Thither.
  46. Re:Show some humanity by Himring · · Score: 4, Insightful

    Fair enough I suppose. Let he who hath no sin cast the first stone and all that....

    In the end, we judge others and actually judge ourselves. The former CEO of Enron was, understandably, a modern type of monster. You're hard-pressed to find much good to say about him other than, "he was human." But so is every death row inmate.

    I find the older I get, the more careful I am in judging simply because I've been through a certain amount of crap and I also realize that, as my southern grandfather used to put it, "you gotta walk that lonesome valley.... You gotta walk it by yourself."

    Lay emerged on the world scene like the rest of us, and like the rest of us he struggled to climb to the top. Along the way, as most of us do, he compromised. A time came when he compromised big, and then he kept on compromising until that little voice we all have simply wasn't there anymore. He had to know he was destroying lives as he built his personal pile.

    I'm reminded of what the news paper tycoon said to the young Orson Wells as his life was ending in public shame, indebtedness and legal turmoil: "my fight with the world is ending. Yours is just beginning."

    While the vitriol makes perfect sense right now, we just gotta be careful. We, too, will screw up either in a big or small way in this world. Hopefully, not that big. Still, the man is dead.

    Frodo: "It's a pity Bilbo didn't kill him when he had the chance."
    Gandalf: "Pity? It was pity that stayed Bilbo's hand. Many that live deserve death. Some that die deserve life. Can you give it to them, Frodo? Do not be too eager to deal out death in judgment. Even the very wise cannot see all ends. My heart tells me that Gollum has some part to play yet, for good or ill before this is over. The pity of Bilbo may rule the fate of many."

    Let's have a smidgen of pity boys....

    --
    "All great things are simple & expressed in a single word: freedom, justice, honor, duty, mercy, hope." --Churchill
  47. Sentencing? by MrCopilot · · Score: 4, Interesting
    IANAL but,

    He dies before sentencing, Now we have no yardstick for similar crooks in the future, no order of restitution to be paid. Inheritance gets whatever he had left + life insurance benefits (which I bet is a pretty good chunk of any state budget)

    A Republican friend of mine mockingly said "How dare he die before we get a chance to punish him." What he say in jest, I say in earnest.

    Personally, I would have liked to see him live a long, long, long life breaking rocks in the hot sun. Since he probably would have ended up at Club Fed, I hope it hurt a tenth as much as losing your retirement and life savings overnight.

    As an Atheist, I get no satisfaction from him keeling over. I literally feel robbed, and I had no money in their company. The people who did probably feel robbed all over again.

    --
    OSGGFG - Open Source Gamers Guide to Free Games
  48. Re:As a republican, I'd like to say... by Mister+Whirly · · Score: 3, Funny

    Not as much as I admire your sarcasm... ;)

    --
    "But this one goes to 11!"
  49. "I'm not Dead Yet!" by doublem · · Score: 3, Interesting

    Is he REALLY dead?

    Most of his cash "vanished" shortly before his arrest, and his assets were never frozen.

    When Lay collapsed, his personal assistant called Lay's personal doctor, not an ambulance. It was Lay's personal physician who pronounced Lay dead.

    Lay's will, revised just a couple of months ago, calls for his cremation, and his widow was out of the country when he died. She's reportedly having medical complications from "The shock of her belove husband's sudden death." As a result, she's not expected to return to the states for the funeral.

    Details on who signed the death certificate are fuzzy, but there are no plans for an autopsy. He's scheduled for cremation tomorrow morning.

    Any bets there's no actual body in the casket, or if there is, it's not Ken Lay's?

    Billions are now being spent nationwide by American CEOs on similar contingency plans for faking one's own death and moving vast financial resources to a safe location out of the country.

    Ken Lay has become quite a roll model for Corporate CEOs all over the country. He made a vast fortune, and despite being caught, manged to keep a large number of his cohorts from facing any real repercussions while escaping with his own fortune largely intact.

    --
    "Live Free or Die." Don't like it? Then keep out of the USA
    1. Re:"I'm not Dead Yet!" by aztektum · · Score: 3, Informative

      It says right in the article "In a statement, the Pitkin County Sheriff's office said a coroner's autopsy is pending and autopsy results will be available later this week."

      --
      :: aztek ::
      No sig for you!!
  50. Re:Another perspective on Ken Lay... by GigG · · Score: 3, Funny

    Well that does it! No more hanging around polite charming people for me.

    That's why I hang around /.

    --
    Is buying a Harley Davidson as your first motorcycle since you were 16 at age 49 a midlife crisis issue?
  51. Re:Whats so bad about Peace, Love and Sarbanes-Oxl by seanadams.com · · Score: 3, Insightful

    what Other Reasons could there be to not increase corporate financial accountability?

    The down-side to Sarbox is that it massively increases accouting burden and raises the bar in terms of funds and overhead required for any small company to go public. This both reduces the benefits of going public and limits the IPO opportunity to larger, better funded corporations, at the expense of many more interesting younger companies. It puts the opportunity further out of reach of smaller entreprenuers.

    Most venture investors and entreprenuers feel that Sarbox goes too far. You seem to be speaking strictly from the perspective of a (rather uninformed) public shareholder, and frankly you seem to lack the necessary insight into the costs of Sarbox compliance to form a balanced viewpoint. Increasing penalties for (and actually enforcing) SEC rules would have gone a long way without having to add new requirements.

  52. Re:Another perspective on Ken Lay... by smellsofbikes · · Score: 3, Insightful

    I disagree. Putting him in jail for life is incarceration, not rehabilitation, and does diddly squat for all the people he harmed. I think accountants and auditors should've gone over his financial records and penalized him all the money he made during his time at Enron, plus another, oh, say, $50mil, and put all that money into a fund split up among the people who were screwed over by his selfishness. Plus five years in jail and, most importantly, a five-ten year parole in which he was prevented from being an officer of any corporation or member of the board of directors of any corporation. Take away his livelihood, like he did to other people, keep him from doing more damage, and repay, as best possible, some fraction of the people whom his actions affected.

    Nobody should get more time in prison for cooking the books (or for copyright infringement) than a person who murders. Criminal penalties should fit the crime. But so should the financial penalties, and his financial crimes were large indeed.

    I'd say the same thing about Skilling and the world.com people, while I'm at it. Hit them where it hurts: get them working at McDonalds to make their car payments, and use their ill-gotten gains to help those they harmed.

    Consider it a different version of "an eye for an eye": their punishment is to supply from what they have, what they've made another lose. Which, by the way, is what I believe "an eye for an eye" originally was intended to do: if you blind someone, you must then act as that person's eyes.

    --
    Nostalgia's not what it used to be.
  53. Simple explanation by It's+all+Krista's+Fa · · Score: 3, Funny

    God called. He wants to know where his pension is.

    --
    It's all Krista's Fault.
  54. Re:Another perspective on Ken Lay... by greg_barton · · Score: 4, Funny
    Need anyone be reminded of the thousands of employees, shareholders and suppliers that the late Mr Lay metaphorically urinated, on as he profited from their misfortune?


    Dude! You miss the point. That's called "trickle down economics."
  55. Re:Whats so bad about Peace, Love and Sarbanes-Oxl by Wah · · Score: 5, Insightful

    PUBLIC CORPORATIONS ARE NOT PEOPLE!!!!11!!!!

    Any metaphor drawn from that cloth is fundamentally flawed.

    The "innocence" you say must be proved is, in reality, reports on how much money the corporation has/owes/and is owed. As these numbers HUGELY influence how real people invest their own money, it is requisite for our entire system of finance that these numbers be accurate and trusted.

    SOX might be a bit onerous, but that's only because things had become so lax....and Lay was the perfect example of how they were so lax that CEO's could try and argue in court they had no idea how much the company has/owes/and is owed.

    I'll not touch your liberaltarian ranting that follows...I hear they're infectious.

    --
    +&x
  56. Re:As a republican, I'd like to say... by jdray · · Score: 3, Insightful

    I suspect what the parent was saying is that Lay caused a lot of problems for the GOP. The economic crisis that he touched off, as well as his ties to the current administration, have caused a lot of heartburn for a party trying to maintain their controlling position.

    I, for one, won't really mourn his passing except in the abstract sense (the humanist in me). I'm not a Republican or a Democrat (or a member of any other party), though I am an employee of a company formerly owned by the big E.

    --
    The Spoon
    Updated 6/28/2011
  57. Re:Another perspective on Ken Lay... by geekoid · · Score: 4, Funny

    he Ken Lay memorial urinal has a nice ring to it.

    --
    The Kruger Dunning explains most post on /. http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect
  58. update by RelliK · · Score: 4, Funny
    He was pronounced dead at a hospital.

    After moving to a better hospital, his condition was upgraded to "alive".

    --
    ___
    If you think big enough, you'll never have to do it.
  59. Re:Show some humanity by Maxo-Texas · · Score: 3, Insightful

    I disagree. If you kill a person, does it matter if you cut their knife with a throat or ruined them financially so they can't get medical care?

    Ken Lay basically died of shame and being caught. I believe that many of his victims died similar deaths to him from his actions.

    And I think you are ignoring the fact that Zarqawi probably only *personally* killed less than a hundred people (maybe less than fifty). The rest were all based on his organizations actions. We say he is responsible for the deaths caused by his organization-- I think we can extend deaths caused by corporate actions just as well.

    When you knowingly pollute and cover it up and people die, they died.
    When you work people to death with excessive hours, they are still dead.
    When you take an excessive salary that means your people can't get medical care (which your salary would have covered) then you traded your happiness for their lives and they are still dead.

    Historically, we have drawn a line that said if a person dies because of business, then it is not murder. Corporations have become so powerful and so corrupt, that I think it is time to redraw that line.

    --
    She was like chocolate when she drank... semi-sweet at first and then increasingly bitter.
  60. Won't someone please think of the children? by Khammurabi · · Score: 4, Informative
    Good Riddance.
    Um, does anyone know whether the gov't seized all his assets before he croaked? Because if they didn't, his heirs might just try to take what's left "while the body's still warm". I haven't heard of passing a sentence on a dead body before, but I'm sure there's a legal battle in there somewhere that lawyers are chomping at the bit to get in on.

    I'd hate for "Kenny-Boy" to get the last laugh on America, you know, by dying early.
    1. Re:Won't someone please think of the children? by wtansill · · Score: 3, Interesting
      Um, does anyone know whether the gov't seized all his assets before he croaked? Because if they didn't, his heirs might just try to take what's left "while the body's still warm". I haven't heard of passing a sentence on a dead body before, but I'm sure there's a legal battle in there somewhere that lawyers are chomping at the bit to get in on.

      I'd hate for "Kenny-Boy" to get the last laugh on America, you know, by dying early.
      He might just. As I was driving home this evening a blurb came over the radio that the 5th cirtcuit court (I think that's what they said -- I only snapped to attention on the next sentence) has a history of "extinguishing" the conviction of a person who dies before their appeals are exhausted. It would be as if the trial, or even the indictment, never happened. Now that's from the crimial side of things (and at present it's only the newscaster's speculation), but any pending civil suits could still proceed regardless of what the criminal court does or does not do. First I've heard of such "extinguishment"...
      --
      The contest for ages has been to rescue liberty from the grasp of executive power. -- Daniel Webster
  61. Reinventing the past is common for psychopaths by Moraelin · · Score: 3, Interesting
    Reminds me of the Is Your Boss A Psychopath story, that was linked to last year on Slashdot.

    Now I don't know enough about Ken Lay to proclaim whether he was a psychopath or not, but it sorta makes me wonder. I mean we already know that he had no remorse in shafting the investors, the employees and everyone, but the GP's moving testimony just makes some more pieces fall into place.

    Here are some relevant paragraphs:

    In contrast, corporate psychopaths typically grew up in stable, loving families that were middle class or affluent. But because they're pathological liars, they tell romanticized tales of rising from tough, impoverished backgrounds. Dunlap pretended that he grew up as the son of a laid-off dockworker; in truth, his father worked steadily and raised his family in suburban comfort.


    Does it sound yet like Ken Lay telling employees a rags-to-riches story about creating the company from nothing?

    Also worth remembering:

    Psychopaths succeed in conventional society in large measure because few of us grasp that they are fundamentally different from ourselves. We assume that they, too, care about other people's feelings. This makes it easier for them to "play" us. Although they lack empathy, they develop an actor's expertise in evoking ours. While they don't care about us, "they have an element of emotional intelligence, of being able to see our emotions very clearly and manipulate them," says Michael Maccoby, a psychotherapist who has consulted for major corporations.

    Psychopaths are typically very likable. They make us believe that they reciprocate our loyalty and friendship. When we realize that they were conning us all along, we feel betrayed and foolish.


    So in a way I'm not surprised that someone would be manipulated to the point of respecting the guy who shafted him. Psychopaths are _good_ at that kind of thing. Damn good. _Incredibly_ good. Unless you happen to be the direct target of their mind games or power games or intimidation games (they do all that a lot), you could live next to one for a decade and respect the heck out of him.
    --
    A polar bear is a cartesian bear after a coordinate transform.
  62. Re:Show some humanity by macsimcon · · Score: 5, Insightful

    Superman, is that you? You must have used your x-ray vision to look through the masks of the men in the video footage. Even if Zarqawi claimed responsibility, that's what? Two dead Americans? Versus how many thousands with ruined retirement accounts, millions of dollars lost? We have no way of knowing how many deaths, let alone injuries, Lay's activities caused.

    I'd say it's a safe bet that he injured more than two Americans however. See, I live in California, and I personally have been injured by the actions of Enron, the company Lay oversaw.

    Presumably, you have links from the AP regarding these AQ funded labs? I have this link

          http://www.washingtonpost.com/wp-dyn/content/artic le/2006/06/09/AR2006060902040_2.html

    which depicts Zarqawi as wanting to ally himself with AQ, but not being embraced by the terrorist organization's leadership. Furthermore, I have yet to find a mainstream media outlet which claims AQ was operating from Iraq before the war.

    There is nothing absurd about calling Republicans traitors, it is indisputable: they seek to undermine the Constitution of the United States, and do not support the Constitution, the document upon which almost all of our laws depend. In so doing, they hope to destroy the United States, and are hence traitors, QED. There is nothing in the Constitution which allows violation of amendments one, five, or six, but there are the Republicans, supporting their violation each and every day.

    Traitors all. To paraphrase the Traitor-in-Chief, "you're either with us, or you're with the Republicans."

    You don't _have_ to be a traitor, you know. You can always read the Constitution, and educate yourself about this country's founding, and the ideals behind it.

  63. Re:Another perspective on Ken Lay... by DavidTC · · Score: 3, Insightful

    Three words for these fuckers: Financial Death Penalty.

    Take every single goddamn dime away from them. Everything they own, period. Including assets in other countries, jail them until they turn them over. Everything single thing they own, everything their spouse owns, everything their minor kids own. (We, however, will give the kid's stuff back when they hit 18.)

    And just like a divorce, if it looks like did something to try to keep something afterwards, like selling your car for 'one dollar and other considerations' to a friend or putting the deed to your house in the name of your 16 year-old son...no. We grab that too.

    We'll let them stick, say, a thousand dollars worth of family heirlooms and photo albums and paintings their kids did in storage and they can buy them back if they ever get enough money, and the rest goes to auction. (Most of the actual personal stuff like photographs is technically valueless, so they should be able to buy all their memories back for 20 bucks or so, before anyone whines about that.)

    And then, of course, we aren't completely heartless. We'll give them one of those 'out of prison' outfits and fifty bucks, just like anyone walking out prison gets.

    And before anyone says 'What about the children?', there are plenty of poor children in this country. They can always apply for food stamps. Any proposed consideration shown to those kids better apply to kids born to families with almost nothing, or you subconsciously think rich kids 'deserve' more.

    --
    If corporations are people, aren't stockholders guilty of slavery?