Enron demanding money back from former employees

[musette_sf]

Source: KHOU Houston

Enron demanding money back from former employees
07:34 PM CDT on Thursday, May 15, 2008
By Kevin Reece / 11 News

HOUSTON -- The financial implosion of Enron cost thousands of Houstonians tens of millions of dollars. A class-action lawsuit recovered some of the losses for former employees who lost more than their jobs in the company’s collapse.

Now, the painful memories of seeing their jobs and retirement plans go up in smoke have a new twist.

Former Enron employees say they've been getting letters from Enron, demanding they pay back some of the settlement money.

Read more: http://www.khou.com/topstories/stories/khou080515_tj_enronfolo.103f14c56.html

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when an ex-employee was asked "How insulting is that", she replied, "I don't know. Kick your a--, bend over and let me do it again".

squeezing the last drop of blood before Kenny Boy's good buddy 'n' pal is out the door....

[Hugin]

1. I remember thinking when I first saw the Enron ads... With the SaturnV launching and "I've got a...

Friend in Jesus" blaring away. "This is -not- going to end well."


Also, I recall wondering what the hell Enron produced.

[Robbien]

2. Every big business is getting away scott free with fraud these days.

Appears Enron doesn't feel it fair they had to pay.

[nichomachus]

3. They all know they've only got 258 more days to steal everything they can

[BrklynLib at work]

4. Kenny-boy's family putting anything back into the pot???? hahahahahaha

[Baby Snooks]

14. But they did nothing wrong...

Linda Lay still maintains they did nothing wrong. So why on earth would she and her family be asked to put something back into the pot?

This is so appalling but expected by those who watched the politicians pander to this administration mainly out of fear that the investigation might be reopened and everyone might see how they sold themselves to Ken Lay and sold out the American people so that he might feed his greed a little further. Disgusting country we live in that people can actually be ripped off twice by the same person. It's a new precedence called legal fraud. Being upheld by even the Supreme Court.

[BrklynLib at work]

15. Until the SCOTUS loses the Repuke influence, it cannot be looked upon as the arbiter it was supposed

to have been as designed by the Constitution. It's current makeup is strictly one that will support big business over everyone else.

[FloridaJudy]

5. What next?

Is Dr. Mengele going to send Holocaust survivors a bill for medical services? Jeez, just when I thought predatory capitalists couldn't sink any lower.

These guys could limbo under a railroad track. A model railroad track, at that.

[unblock]

6. ALL the money is going to victims of enron's fraud

well, plus the lawyers who are helping to achieve some semblance of justice on their behalf.

there apparently were errors in figuring out who gets what. so some will get more, others will get letters like holloway got asking for some money back.

i can certainly understand how pissed off recipients of the letter must be, and there's no excuse for whatever sloppiness led to the incorrect distribution in the first place.

but ultimately, the money is going to EVEN MORE DESERVING victims, employees who lost even more and/or who were otherwise more harmed than holloway was. it's a sucky situation, to be sure, but the headline is misleading in that it suggests that enron will wind up with the money, when in fact they'll just have to turn around and pay it to other victims of their historic fraud.

[Riddler]

7. It must be costing Kenny-boy more to live in disguise on his tropical island than he thought

[liberalhistorian]

16. If she lost most of her retirement, 80 THOUSAND

dollars, and only received 700 bucks in the settlement, why in the hell should she have to pay one penny back? I'd tell them where to put it and what to do with it, they wouldn't get a dime from me no matter what they did. If they miscalculated, it isn't hers or the other victims' fault. It's their problem.

And, like the article says at the end, they can do what Enron did after it threw their employees under the bus. They can file a waiver saying they have no money to pay, just like Enron told the employees.

[unblock]

17. no. there's someone else who lost twice as much money and got half as much

THAT'S the person who really got screwed.

at this stage "enron" only has money for to give to its victims and their lawyers. the squabbling about money as about WHICH victims get how much. if one victim gets too much money, some other victim is getting too little.

and no, it's NOT enron's problem AT ALL. enron isn't making a dime regardless. someone keeps too much, all it means is that much less for someone more deserving.

[mbperrin]

19. You know what? If this woman doesn't deserve $700 out of $80,000

and if it took Enron and their lawyers a year or more to get around to it AFTER figuring it out YEARS later, well


FUCK THEM!


Who exploded the company anyway? THAT's the bastids that need to pay and also take a good horsewhipping in the public square.

[unblock]

20. why is no on hearing me? fuck them, sure. absolutely, they're bastards.

and they're not getting a nickel and hopefully those who aren't yet dead may rot in prison.

what does this have to do with the distribution of whatever peanuts are left to the victims?

[Hannah Bell]

21. they got plenty.

[Festivito]

24. I agree with you. This is a GOOD THING.

Although I'd like the janitor to get more than the analyst who could possibly have seen the edge of the cliff. Certainly I'd like all of the losers to receive a retirement equal to everyone else's. And, age could be used to determine how close to minimum wage in retirement they might receive.

Leave it to Republicans to make a mess of the original action, and, sadly, they may be in charge of this distribution. Arrrrrgh!

[Tempest]

8. I'd tell them to shove it up their ass

Make Enron go to court to get it back. No way would it ever be approved.

[loves_dulcinea]

9. that has to be a story by the onion...n/t

[musette_sf]

12. sadly, no.... n/t

[flor de jasmim]

10. And I was hoping they meant the ones at the top with the golden parachutes...

[bluestateguy]

11. I didn't know Enron still existed

Years ago, we would have found her among the thousands fired when Enron folded. Her Enron retirement plan also went under that day.

"I'd say (I lost) $70,000 or $80,000," Holloway said.

11 News: That just vanished?

Holloway: "Poof, the magic dragon. Gone”

Two years ago, she got some of that money back. A class action settlement got her $726.22.

MOst of of the class action suit money ends up going to attorneys, and rarely comes close to fair compensation.

[Cobalt-60]

13. Tell the zombie of Enron to f*ck itself

[peacetalksforall]

18. I have this theory going around in my head - I feel that Enron was

as much a part of this Administration as Halliburton or Karl Rove, Libby, Cheney, Abraham, Frist - a broad band of culprits. The feeling focuses on huge debts and the attempt to build a wide defense fund. Many people went way off the legal cliff

I think they have stolen from us in every way possible, bt it is not enough.

There seems to be some desparation builing.

Just a gut feeling.

Imagine Bush going back to Saudi Arabai after being told NO the last time he was there (NO to increasing output). That begs on begging. And who turns down Bush. Our dilemna is affecting some other countries.

Also consider that Saudi Arabia and Israel want/wanted us to invade Iran. We might be telling them we can't do it and they are holding us hostage until we do. Sunni-Shite stand off with oil involved? Who knows - madmen are in charge.

There are so many cuts and slicing of funds, so many departments of the government at risk. Billions already stolen. Debt to China. A set back to China looming.

If anyone knows of a list where someone is tracking these - please post.building that there is some desparation.

[goforit]

22. Kenneth Lay Dead???.......Not at all!! Faked his death and lives in luxury !!!

Thanks to his buddy old pal GHWB

[martymar64]

25. We need the nazi hunters to go find him and bring him back

Since the nazis are dying of old age, the hunters need something to do. First place to look, the Santa Cruz white supremacist enclave in Bolivia. Or the bush compound in Paraguay.

[dysfunctional press]

26. i picture him and osama playing some tennis, and then relaxing with drinks by the pool...

until poppy and khashoggi show up for their doubles match- but they blow that off and decide to take the boat out for some sport-fishing instead.

it's good to be rich.

[yurbud]

23. shouldn't they arrest anyone who still claims to represent the company?

[Canuckistanian]

27. Why does Enron even exist as an entity?

The only reason for it's existence should be the dissolution, sale and disbursement of it's assets to those who lost their life savings.

Then it's corporate charter should be revoked.

[emperor124]

28. I can't believe that Enron has this kind of nerve

If I were them I'd just want to disappear off the face of the Earth and never been heard from again

[superconnected]

29. When they do, do that, it's for the wrong reasons.

ask kenny boy.