May 25, 2006
The Straw that Broke the Camel's Back...Enron Verdicts in
The long awaited verdicts are in folks. Kenneth AKA "I Know Nothing" Lay and Jeffrey "It was Fastow's Fault" Skilling have been convicted by a jury of their peers. No wait. Ladies and Gentlemen these are not their peers. This would be impossible.
How could any of us be compared to "the smartest guy in the room" Skilling or "no nothing" Lay. They were found guilty even without the benefit of Sarbanes-Oxley (which was implemented after their fraud was perpetrated). It has been against the law to lie and deceive investors since, maybe 1933!
These guys are an example of what many people have unfortunately come to believe are "average business people". Fortunately, these Enron execs are the exception not the rule in business.
But those of us in business needed this conviction to reaffirm that this behavior is not acceptable and not the norm. The unprecedented arrogance had to be punished.
The Sarbanes-Oxley Act of 2002 which they are blamed for is an important piece of legislation that lets the average investor out there know that this behavior is not acceptable. Good companies would do well not to whine too much about SOX. Just do the work, benefit from it and move on to making money.
Thanks to the Enron trial Jury. Good job!
"Jury: Enron CEOs Lay, Skilling found guilty of fraud
Last Update: 12:12 PM ET May 25, 2006
HOUSTON (MarketWatch)-- A jury on Thursday found Enron founder and former CEO Kenneth Lay guilty on all six counts of fraud and conspiracy charges while former CEO Jeffrey Skilling was found guilty on all securities fraud counts but acquitted of insider trading charges." From Marketwatch.com
If your company needs to rapidly and cost effectively comply with Sarbanes-Oxley or MI-52-109, see www.issuescentral.com to learn more about the Compliance Playbook(tm) and www.compliancepartner.ca to learn more about Compliance Partner(tm).
How could any of us be compared to "the smartest guy in the room" Skilling or "no nothing" Lay. They were found guilty even without the benefit of Sarbanes-Oxley (which was implemented after their fraud was perpetrated). It has been against the law to lie and deceive investors since, maybe 1933!
These guys are an example of what many people have unfortunately come to believe are "average business people". Fortunately, these Enron execs are the exception not the rule in business.
But those of us in business needed this conviction to reaffirm that this behavior is not acceptable and not the norm. The unprecedented arrogance had to be punished.
The Sarbanes-Oxley Act of 2002 which they are blamed for is an important piece of legislation that lets the average investor out there know that this behavior is not acceptable. Good companies would do well not to whine too much about SOX. Just do the work, benefit from it and move on to making money.
Thanks to the Enron trial Jury. Good job!
"Jury: Enron CEOs Lay, Skilling found guilty of fraud
Last Update: 12:12 PM ET May 25, 2006
HOUSTON (MarketWatch)-- A jury on Thursday found Enron founder and former CEO Kenneth Lay guilty on all six counts of fraud and conspiracy charges while former CEO Jeffrey Skilling was found guilty on all securities fraud counts but acquitted of insider trading charges." From Marketwatch.com
If your company needs to rapidly and cost effectively comply with Sarbanes-Oxley or MI-52-109, see www.issuescentral.com to learn more about the Compliance Playbook(tm) and www.compliancepartner.ca to learn more about Compliance Partner(tm).
