Posted by LV on February 20, 2004 at 17:14:45:
In Reply to: Re: Re: Re: Re: Barenboim Leaving CSO posted by Rick Denney on February 20, 2004 at 16:27:35:
As I understand it, many employees of Enron, admins, custodians, up on through management, bought stock and invested in the company (as in life savings...) via internal plans on the word and trust in several top players in the the company. They received a lot of smoke and mirrors and now some literally have nothing. I have a lot of sympathy for these folks.
The top players were fiddling as Rome burned, but with mal-intent.
At one point, corporate America could require employees to buy company stock if they wanted to participate in the sponsored 401k plan (this is now illegal). Too little, too late.
I also have a great deal of sympathy for the out sourcing of jobs to places like India. My job (automotive engineering) is being very hard hit. I have personally had some first hand experience with this problem (I'm make plans to get out on my own accord).
FWIW
LV