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Ken Lay dead

Obituaries Ken Lay 2006

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#1 Nonny

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Posted 05 July 2006 - 09:32 AM

No details.  Just heard it on NPR.  

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#2 Nonny

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Posted 05 July 2006 - 09:40 AM

Enron Founder Ken Lay, 64, Dead of Heart Attack

Quote

HOUSTON -- Kenneth Lay, founder and vilified former chairman of scandal-ridden Enron Corp., died of a heart attack this morning. He was 64.

Nicknamed "Kenny Boy" by President Bush, Lay led Enron's meteoric rise from a staid natural gas pipeline company formed by a 1985 merger to an energy and trading conglomerate that reached No. 7 on the Fortune 500 in 2000 and claimed $101 billion in annual revenues.

He was convicted in May 25 of defrauding investors and employees by repeatedly lying about Enron's financial strength in the months before the company plummeted into bankruptcy protection in December 2001.

Some guy on NPR is calling him a "tragic victim" of the Enron mess.   :blink:   Geez.

edited to add: this link now goes to the updated article.

Edited by Nonny, 05 July 2006 - 11:14 AM.

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The once and future Nonny

"Give a man a gun and he can rob a bank, give a man a bank and he can rob the world." Can anyone tell me who I am quoting?  I found this with no attribution.

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Stupid is stupid, this I believe. And ignorance is the worst kind of stupid, since ignorance is a choice.  Suzanne Brockmann

All things must be examined, debated, investigated without exception and without regard for anyone's feelings. Diderot

#3 Bobby

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Posted 05 July 2006 - 09:56 AM

He's a victim?  When you sign on to be leader of anything you take the credit for the good and the flak for the bad.  I find it hard to believe he didn't know what was going on at Enron.  If he didn't then he wasn't a very good CEO either way.  What was his role to play golf and look pretty?

#4 Tricia

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Posted 05 July 2006 - 11:07 AM

I have trouble perceiving him as a victim.

He should have known what was going on at Enron.  He was getting paid the big bucks to run the show.  To me, that means keeping your fingers in all the pots and not turning a blind eye to any possible wrongdoing.

Quote

Prosecutors in Lay's trial declined comment today, both on his unexpected death and what may become of the government's effort to seek a $43.5 million judgment from Lay that they say he pocketed as part of the conspiracy


A local (Houston)  legal analyst said that they can not proceed with attempts to seek this judgement.  That the whole case disappears with his death tho they can seek a civil judgment against the estate.

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#5 Balderdash

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Posted 05 July 2006 - 12:53 PM

My momma taught me that "if  you can't say anything nice don't say anything at all."  It was either my momma or I saw heard it in the movie "Bambi".  :blink:  Anyway, I got nuthin' nice to say about Ken Lay, dead or otherwise.  :p

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#6 Hibblette

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Posted 05 July 2006 - 01:43 PM

Here's the Chicago Trib article

http://newsblogs.chi...th_lays_go.html

Proof that you can be successful and still be an idiot. :glare:
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#7 Captain Jack

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Posted 05 July 2006 - 02:12 PM

Gee...what a shame.  Not.  I hope there is a special place in hell for him.  ;)
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#8 Zwolf

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Posted 05 July 2006 - 02:23 PM

And a collective sigh of relief goes out across Washington, knowing that there won't be any "tell all" books forthcoming from Kenny Boy.

And the ground is richer by one sonofab*tch.

Cheers,

Zwolf
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#9 Rhea

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Posted 05 July 2006 - 04:27 PM

Too bad - I would have much rather seen him survive, do jail time and pay the judgement.
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#10 Lord of the Sword

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Posted 05 July 2006 - 04:50 PM

Call me a cynic but I think the boy took his own life. There are many, many, drugs out there that can cause heart attacks. The fact of the matter is that the boy was looking at spending the rest of his life as some inmate's b*tch! He knew that.

He was probably also aware that since he hadn't been sentenced yet, that with his death the conviction would have to be overturned. Because he wouldn't be able to get an appeal.

So the conviction gets overturned, and on paper he is an innocent man. The boy got off easy if you ask me.
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#11 Broph

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Posted 05 July 2006 - 04:57 PM

Well, he wouldn't be the wife of an inmate. If he was going anywhere, it would have been to Club Fed where he would have conjugal visits and the like. Not quite up to his normal standard, but he wouldn't be happy.

#12 Tricia

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Posted 05 July 2006 - 05:09 PM

View PostLORD of the SWORD, on Jul 5 2006, 09:50 PM, said:

He was probably also aware that since he hadn't been sentenced yet, that with his death the conviction would have to be overturned. Because he wouldn't be able to get an appeal.

So the conviction gets overturned, and on paper he is an innocent man. The boy got off easy if you ask me.

The conviction is not overturned just because he died.....if that legal expert is to believed then it just disappears.  It doesn't mean he was never convicted just that he did not survive to receive sentence.  He is still not innocent.

oops...checked on the Houston Chronicle's website

Quote

Lay had not been sentenced and the appeal process had barely started. That means a final judgment has not been issued and the conviction will be set aside, said Richard Barnett, a San Diego attorney who specializes in forfeitures.

Now the civil suits filed by former employees and likely even the federal government can still proceed and the conviction can still be used against his estate in those cases.  His death does put some limitations on those cases also tho.

CNN

Quote

But Lay's family may still face the music when it comes to the barrage of civil lawsuits filed against him.

Jacob Zamansky, principal at Zamansky & Associates, a law firm that represents shareholders, said Lay's estate is still liable for damages.

"Lay's passing isn't going to have any material effect on the civil suits," Zamansky said. "His testimony is still out there."

Quote

And Joel Androphy, partner at Houston-based law firm Berg & Androphy, said that if a defendant is deceased, civil claimants can't seek punitive damages. Any civil lawsuits would have to be limited to compensatory damages, or those losses that were actually incurred by an individual, he said.

Edited by trikay, 05 July 2006 - 05:30 PM.

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#13 Lord of the Sword

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Posted 06 July 2006 - 03:35 AM

View PostBroph, on Jul 5 2006, 05:57 PM, said:

Well, he wouldn't be the wife of an inmate. If he was going anywhere, it would have been to Club Fed where he would have conjugal visits and the like. Not quite up to his normal standard, but he wouldn't be happy.

True...But even that kind of jail would've been good enough for someone like him. But by dying like he did, the boy got off easy.
"Sometimes you get the point of the sword, sometimes the edge, sometimes the flat of the blade (even if you're the Lord of the Sword) and sometimes you're the guy wielding it. But any day without the Sword or its Lord is one that could've been better  " ~Orpheus.

The Left is inclusive, and tolerant, unless you happen to think and believe different than they do~ Lord of the Sword

Looks like the Liberal Elite of Exisle have finally managed to silence the last remaining Conservative voice on the board.

“The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. It is it’s natural manure.” ~Thomas Jefferson

#14 scherzo

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Posted 06 July 2006 - 03:51 AM

Eh...guy probably faked his death Jack Bauer style. His accomplice is injecting the "corpse" with the revival serum as we speak, and flight coordinates to the French Riviera have just been delivered to a fully fueled private jet somewhere.

It'll be crepes and lattes on the poolside balcony by Saturday morning. :cool:

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#15 Bobby

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Posted 06 July 2006 - 09:15 AM

View Postscherzo, on Jul 6 2006, 03:51 AM, said:

Eh...guy probably faked his death Jack Bauer style. His accomplice is injecting the "corpse" with the revival serum as we speak, and flight coordinates to the French Riviera have just been delivered to a fully fueled private jet somewhere.

It'll be crepes and lattes on the poolside balcony by Saturday morning. :cool:

-scherzo(well that's what I'd do anyway)

That conspiracy theory did cross my mind when I first read it.  He'll be like Elvis.

#16 DWF

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Posted 06 July 2006 - 03:24 PM

I guess he'll miss that hunting trip with Dick Cheney now.
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#17 Captain Jack

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Posted 06 July 2006 - 03:53 PM

'Ole Dicky ain't worried.  I'm sure he's got a few more folks on his list to keep him...occupied.  :)
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#18 Cheile

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Posted 07 July 2006 - 11:38 AM

who says he gets off scot-free?  take his estates and fortune, put his b*tch wife and brats into the poorhouse where they belong to pay all those ripped off victims back.

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