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They killed Kenny!

In a quite puzzling story fronting today's Washington Post, we read what a terrible time Ken Lay had as Enron was collapsing, and what a good man he is.

A few excerpts:

Ken, the man of principle: "As part of the Dynegy deal, Lay was scheduled to get a 'golden parachute' -- a payoff that amounted to $60 million to buy out his three-year contract. But on Nov. 13, after the perk was disclosed by Bloomberg News, Lay announced that he would forgo it. It didn't look good at a time when many of his employees and investors were losing millions as the company's stock plunged."

Ken, well, the man of principle: "Lay shouldered responsibility for the mismanagement and concealment that marred the company's performance. Investigations were continuing and might turn up new facts but the culture of secrecy had ended, he promised."

Ken the martyr: "Ken Lay was alone. He drew back a privacy curtain in the emergency room of St. Luke's Episcopal Hospital and padded into view bare-legged, wearing a half-tied hospital gown, slippers and a confused expression.... 'There were six rooms in the emergency room," Blumenthal said. "All six were filled with patients. Everybody had somebody with them, a wife, a husband, a couple of kids. He was the only one who was all alone.'"

Ken Lay left Enron with having made $246.7 million. That's Alex Rodriguez money, except ARod hasn't bankrupted anybody's retirement plans.

Sorry if I don't feel badly for Ken Lay. He has a quarter of a billion dollars, has a friend in the White House, and will jet around the country and the continent for the rest of his life. Spending other people's money. If he felt really bad... if he really was responsible... he'd give the money back.


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This page contains a single entry from the blog posted on August 1, 2002 12:34 PM.

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