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Topic: Ken Lay


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In the News (Sat 5 Dec 09)

  
  Ken Lay Information   (Site not responding. Last check: 2007-10-28)
Ken’s door was always open, whether it was to help with college funds for a child, to help a former Enron employee pay their mortgage; to help young entrepreneurs make their dreams a reality, or to give a second chance when he believed in a person.
While Ken was the son of parents who did not have the opportunity to go to college, Ken graduated Phi Beta Kappa in 1964 from the University of Missouri with a Bachelor of Arts in Economics and a Master in Economics in 1965.
Ken’s legacy as a leader in energy regulation was rooted in his service with the Federal Power Commission from 1971 to 1972 where he served as a technical assistant to Commissioner and Vice Chairman of the Federal Power Commission.
www.kenlayinfo.com /public/default.aspx   (1254 words)

  
  Crime & Federalism: Ken Lay
Ken Lay lied to his shareholders when he said on two videos (that were later broadcast outside of Texas) that Enron was fiscally sound.
Ken Lay lied in a loan application about what he was going to do with the money he borrowed from Bank of America.
Lay's legal team asked that he be tried alone, and said he would forego his right to face a jury and leave his fate in a judge's hands if that would get a speedy trial.
federalism.typepad.com /crime_federalism/ken_lay   (3027 words)

  
 Kenneth Lay - Wikipedia, the free encyclopedia
Kenneth Lee Lay, Ph.D. (born April 15, 1942) is an American businessman and former CEO of Enron Corporation.
Lay was the CEO and chairman of Enron from 1986 until his resignation in January 23, 2002, except for a few months in 2001 when he was chairman and Jeffrey Skilling was CEO.
On July 7, 2004, Kenneth Lay was indicted by a grand jury in Houston, Texas for his role in Enron's collapse.
en.wikipedia.org /wiki/Ken_Lay   (518 words)

  
 Ken Lay's Nest Egg
What Linda Lay failed to tell viewers of NBC's Today show, however, was that she and her husband had shifted millions in personal assets to investments that are beyond the reach of creditors or legal judgments.
The Lays purchased the annuities almost two years before Enron filed for Chapter 11 bankruptcy protection on December 2 of last year and nearly 18 months before an Enron executive warned Lay of serious accounting problems at the company.
Lay, who was Enron's chairman and chief executive officer, is among the former executives of the company who are targets of shareholder lawsuits.
www.motherjones.com /news/feature/2002/02/enron_insure.html   (1118 words)

  
 Kenneth Lay -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-28)
Kenneth Lee Lay (born April 15, 1942) is an American businessman and former (The corporate executive responsible for the operations of the firm; reports to a board of directors; may appoint other managers (including a president)) CEO of (Click link for more info and facts about Enron Corporation) Enron Corporation.
Lay was the CEO and chairman of Enron from 1986 until his resignation in January 23, 2002 except for a few months in 2001 when he was chairman and (Click link for more info and facts about Jeffrey Skilling) Jeffrey Skilling was CEO.
Lay was charged, in a 65-page indictment, with 11 counts of securities fraud, (Click link for more info and facts about wire fraud) wire fraud, and making false and misleading statements.
www.absoluteastronomy.com /encyclopedia/k/ke/kenneth_lay.htm   (654 words)

  
 Former Enron CEO to Face Criminal Charges (washingtonpost.com)
Lay, who founded Enron and served as its longtime chairman, took over again as chief executive in August 2001, after the sudden resignation of his handpicked successor, Jeffrey K. Skilling.
Lay also sold millions of dollars of Enron stock back to the company between August and December 2001, using a revolving line of credit as an "ATM machine," in the words of one former board member.
Lay has strongly denied wrongdoing through his lawyer Michael Ramsey, who told The Washington Post last month that Lay had been duped by underlings and that he sold stock only to cover losses in volatile technology investments.
www.washingtonpost.com /wp-dyn/articles/A34720-2004Jul7.html   (879 words)

  
 USATODAY.com - Enron's Ken Lay: Cuffed but confident   (Site not responding. Last check: 2007-10-28)
"Ken Lay, along with the other responsible parties, needs to be stripped of their wealth and made to feel like the others who lost everything as a result of their greed," says Maritta Mullet, a former Enron worker who lost $100,000 from her retirement plan.
Lay's life was the classic, rags-to-riches yarn of a farm kid from Tyrone, Mo., making it big in Corporate America.
Lay's attorneys had hoped to ward off what they believe to be a weak indictment.
www.usatoday.com /money/industries/energy/2004-07-08-kenlay-cover_x.htm   (1329 words)

  
 Ken Lay, Enron and the US Public
Ken Lay finally took the "perp walk" down in Houston with his hands cuffed behind his back--an inconvenience for him and also for his old Texas buddy, George W. Bush.
Lay brought his minister with him to federal court, and the preacher invoked "God's blessing" for those who had been hurt.
Ken Lay faces trial, but most of his co-conspirators, especially from Wall Street, got away and remain at large, doing new deals and counting their blessings.
www.commondreams.org /views04/0709-05.htm   (697 words)

  
 HoustonChronicle.com - Lawyers say Lays did nothing wrong
The response from Lay's lawyers was filed in advance of a pre-trial conference in bankruptcy court this morning, when the parties will put most issues in the case on hold until Judge Arthur Gonzalez rules on the request to dismiss.
Linda Lay was included in the lawsuit for her role in the sale of two annuities to Enron for $10 million on Sept. 21, 2001.
In the arguments to dismiss the lawsuits, Lay's lawyers say the annuity agreement governing their sale states that in addition to the value of the annuities, Enron was also receiving the continued services of Lay to Enron.
www.chron.com /cs/CDA/ssistory.mpl/business/1998472   (535 words)

  
 U.S. Newswire : Releases : "FTCR: Indicting Ken Lay for Securities Fraud Is Not Enough..."   (Site not responding. Last check: 2007-10-28)
None of the 11 counts on which Lay were indicted addresses the manipulation of California energy market, the profiteering by his company during the state's crisis or any aspect of the conspiracy to use deregulation to gouge California taxpayers and ratepayers.
The Bush Administration's failure to prosecute that element of Ken Lay's apparent crime is likely the result of the administration's continued allegiance to the deregulation ideology proffered by Lay, FTCR argued.
The Bush Energy plan, key portions of which were likely drafted by Ken Lay and Enron employees, continues to advocate a complete decimation of the FDR-era utility regulation law, known as the Public Utility Holding Company Act, a consumer protection law reviled by Ken Lay and the energy industry.
releases.usnewswire.com /GetRelease.asp?id=156-07082004   (668 words)

  
 The Consortium
But the reality, as established by a wealth of historical record and recent disclosures, is that Lay and Enron were instrumental in Bush’s rise to power – and Bush played an important behind-the-scenes role in advancing Enron’s aggressive deregulation agenda, which helped the energy trader ascend to its lofty perch as the seventh-biggest U.S. company.
On Jan. 11, Bush told reporters that Lay "was a supporter of Ann Richards in my run in 1994." Bush implied that he had gotten to know Lay as a Richards holdover appointee to a Texas business council.
Lay joined one of Barbara Bush's charities to promote literacy as he served as the honorary chairman of the Celebration of Reading at Houston Wortham Theatre Center.
www.consortiumnews.com /2002/020602a1.html   (1545 words)

  
 kyw.com - Convicted Enron Founder Ken Lay Dies
Lay was scheduled to be sentenced Oct. 23.
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.
Lay was also convicted in a separate non-jury trial of bank fraud and making false statements to banks, charges related to his personal finances.
cbs3.com /national/topstories_story_186100510.html   (937 words)

  
 Enron's Ken Lay: I Was Fooled, Scott Pelley Interviews - CBS News
Lay and Skilling were pictured as giants, and Enron was named the most innovative company in America for six years in a row.
Lay golfed with President Clinton and was particularly close to George and Barbara Bush.
Lay doesn’t agree with that assessment and he doesn’t like the title of Eichenwald’s book, “Conspiracy of Fools.” But as he prepares for trial, Lay is trying to improve his image.
www.cbsnews.com /stories/2005/03/11/60minutes/main679706.shtml   (1982 words)

  
 Is Ken Lay A Criminal? - Mises Institute   (Site not responding. Last check: 2007-10-28)
The problem with the Lay indictment, according to Kerry, whose campaign advertisements tout his experience as a prosecutor, is that it did not come soon enough; Bush's friendship with Lay delayed what Kerry claimed should have been done three years ago.
Ken Lay is a political prisoner. To put it another way, the charges against him are political, not criminal in nature.
Lay and other executives that have been charged with crimes did not cause the recession—that is Alan Greenspan's accomplishment—but the government has been glad to jump on the "corporate crime wave" bandwagon and the lapdog press has followed suit.
www.mises.org /fullstory.aspx?control=1589   (2112 words)

  
 The Rest of Us :: Fact Sheets
She tromped Washington, and Ken Lay had his own personal hand-picked NAFTA supporter in congress.
Lay remains chairman of the board of directors.
Ken Lay's ability to put both Republican and Democratic friends into office caused a great deal of harm for Americans.
www.therestofus.org /factsheets/kenlay.html   (1589 words)

  
 BBC NEWS | Business | Enron ex-boss pleads 'not guilty'
Prosecutors led Mr Lay to court in handcuffs after he kept an agreement to turn himself in to the FBI in Houston.
Mr Lay has previously complained that his close friendship with fellow Texan millionaire Mr Bush, who is said to call him "Kenny Boy", would encourage prosecutors to charge him rather than face criticisms of a political cover-up.
Mr Lay has always said he was not aware of the accounting tricks used to disguise Enron's true position.
news.bbc.co.uk /2/hi/business/3875297.stm   (818 words)

  
 Kenneth Lay - Forbes.com   (Site not responding. Last check: 2007-10-28)
While never a very public figure, Lay was known as a risk taker and as a proponent of free markets.
In Houston, Lay was prominent in civic and charitable causes, and his company's name adorned the ballpark.
Lay's power might have flourished on the national stage: He was once mentioned as a possible future secretary of energy or commerce.
www.forbes.com /2002/03/19/klay.html   (629 words)

  
 TIME.com: Is Ken Lay a Victim Too? -- Page 1
Lay's dubious defense strategy was foreshadowed by his wife Linda in an ill-conceived appearance last week on NBC's Today show.
Lay's claim of ignorance is "as implausible as imagining that Richard Nixon did not know what was being done by his staff at Watergate," says David Beim, a professor of economics and finance at Columbia University Business School.
Lay knew all along about the possible ethical conflicts posed by the involvement of Enron chief financial officer Andrew Fastow in off-the-books partnerships with shell corporations, according to a confidential study conducted at Lay's request by the Houston law firm Vinson & Elkins.
www.time.com /time/business/article/0,8599,198880,00.html   (1040 words)

  
 HoustonChronicle.com - Lay interview, '94 campaign records at odds with Bush's claim
Lay also was an instrumental financial supporter of Bush's father, former President George Bush.
Lay was co-chairman of a 1990 host committee that was set up for then-President Bush's economic summit in Houston.
Lay also was tapped to head the local host committee for the 1992 Republican National Convention in Houston.
www.chron.com /cs/CDA/story.hts/business/1208785   (826 words)

  
 Rediff On The NeT Business Special: Kenneth Lay: The energetic messiah
After his speech, Mr Lay commented to an aide, with some surprise, that "some of these guys finally seem to get it." Yes, she responded smugly, "they were even using some of our language!" Spend long enough around top Enron people and you feel you are in the midst of some sort of evangelical cult.
And Mr Lay's boast last year about growing his company nine-fold once again, met with gasps at the time, certainly seems less outlandish now, especially when he maintains that "Enron's strongest growth is still ahead of us".
Mr Lay speaks glowingly of the heyday of Drexel and of its star trader, Michael Milken, whom he counts as a friend: they were accused of arrogance, he grouses, but they were just being "very innovative and very aggressive".
www.rediff.com /business/2000/jun/05enron.htm   (974 words)

  
 Whiskey Bar: Play It As It Lays   (Site not responding. Last check: 2007-10-28)
In 1984, Lay served as the Harris County (Houston) chairman of a one-thousand-dollar-a-plate Reagan-Bush fund-raiser, and by 1985-86, perhaps not surprisingly, the company that was metamorphosing into Enron had established some minor oil and gas business ties to Spectrum 7, the firm run by George W. Bush.
In addition to serving as co-chairman of the Bush reelection committee, Lay also steered a $250,000 contribution to the right-wing hate fest that was the 1992 Republilcan National Convention in Houston.
Lay announced that [Baker and Mosbacher] had agreed "to join us in the development of natural gas projects around the world," a business-seeking odyssey that would sweep them from the Persian Gulf to China, from Latin America to Turkmenistan.
billmon.org /archives/001593.html   (2201 words)

  
 cbs2.com - Convicted Enron Founder Ken Lay Dies
Lay was combative on the witness stand and in fact was hurt by his main lawyer's sudden illness.
Lay was convicted May 25 along with former Enron CEO Jeffrey Skilling 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.
Lay was born in Tyrone, Mo. and spent his childhood helping his family make ends meet.
cbs2.com /national/topstories_story_186100510.html   (976 words)

  
 Fool.com: Ken Lay Surrenders [The Motley Fool Take] July 8, 2004
Lay turned himself in to the FBI in Houston this morning and entered a not-guilty plea in court today on 11 charges, including insider trading, securities fraud, and other fraud charges.
The fact of the matter is that Ken Lay became a liability for the Bush administration -- it had no benefit in protecting "Kenny Boy." And there is no indication that it did.
Some have postulated, not implausibly, that such an action suggests that Lay was not nearly as engaged in the running of the company, or the ongoing fraud, as it appears on the outside.
www.fool.com /news/take/2004/take040708.htm   (2208 words)

  
 Ken Lay's Miracle Worker - Forbes.com   (Site not responding. Last check: 2007-10-28)
When Durst was acquitted in a Texas state court it was a shocker, and standing by his side was Michael Ramsey, the same lawyer now leading the defense of Kenneth Lay, the former Enron chief executive and chairman indicted yesterday in a Houston federal court on conspiracy, securities fraud and bank fraud charges.
Lay's defense is his ignorance: "As CEO, I accept responsibility for Enron's collapse," he told reporters at his press conference.
He may urge the jury to disregard all that Lay learned during his 16 years as Enron's chairman, and especially what was told to him after he returned as CEO in August 2001.
www.forbes.com /management/2004/07/09/cx_da_0709topnews.html   (1037 words)

  
 Salon.com Technology | Ken Lay's un-American activities
While they might agree that Ken Lay's actions are unethical and possibly illegal, they see his behavior as a consequence of decades of special-interest lobbying and not as a gross departure from acceptable entrepreneurial standards.
Lay's political connections in the service of partisan bickering is nothing but a mockery of justice, and an attempt to disguise the perfidiousness that is at the core of Enron.
Ken Lay's lawyer says he doesn't know his current whereabouts.
www.salon.com /tech/feature/2002/02/06/unamerican   (1085 words)

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