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Enron Management Put on Upbeat Stock Front for Workers.
Byline: Jeff Manning
Jan. 13--In August 2001, Enron was just weeks away from one of the biggest business collapses of all time. Yet, senior Enron executives repeatedly reassured employees that the company remained strong, and its stock was destined to climb in value soon.
"I want to assure you that I have never felt better about the prospects for the company," Enron Chairman Kenneth Lay wrote in an e-mail to employees on the day his top lieutenant, Enron Chief Executive Jeffrey Skilling, unexpectedly resigned.
"Our performance has never been stronger," Lay said. "Our business model has never been more robust; our growth has never been more certain; and most importantly, we have never had a better nor deeper pool of talent throughout the company. . . . Together, we will make Enron the world's leading company."
Of course, Enron entered an irreversible nose dive in October after the company divulged it had inflated earnings and concealed debts over the previous four years. The stock went into free-fall, descending…
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Source: HighBeam Research, Enron Management Put on Upbeat Stock Front for Workers.
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