How many employees did enron have

But the former Enron workers who spoke this week say punishment for former Enron executives was not their primary concern. It's all about getting back what they stole from us. We'll notify you here with news about. Turn on desktop notifications for breaking stories about interest?

Comments 0. Top Stories. CEO who threw chair inside Capitol on Jan. Former employees could try to recover some of the money, but they would have to show that the company made illegal "preferential payments," or payments just before a bankruptcy filing that obstructed creditors from getting their fair share.

Nonetheless, representatives of former workers and shareholders responded angrily after the disclosure, accusing Enron's senior managers of essentially raiding the company's coffers while leaving their clients with a pittance. Other executives who shared in the pay and awards were former chief executive Jeffrey Skilling and former chief financial officer Andrew Fastow, whose names have also been closely tied to the scandal.

Lay was found guilty on six counts of fraud and conspiracy and four counts of bank fraud. What changed after Enron? The Enron scandal in early forever changed the face of business. Eventually Enron cost employees and investors billions of dollars after the company was exposed and forced to go into bankruptcy. But what made the Enron scandal so compelling was the fact that it brought down accounting giant Arthur Andersen, too.

What caused the downfall of Enron? The deregulation of energy traders led to overconfidence in investments that Enron made because they thought they were in control. Arrogance caused them to risk more than they could afford, and when the market didn't end up how they thought, it caused the collapse. What happened to Arthur Andersen after Enron? Arthur Andersen, which traces its history back to , shredded Enron audit documents amid an investigation into covering up billions in losses at the energy firm.

The accountant was subsequently found guilty of obstructing justice, effectively putting an end to all its audit activities in What happened to Enron board of directors? The Enron Board of Directors failed to safeguard Enron shareholders and contributed to the collapse of the seventh largest public company in the United States, by allowing Enron to engage in high risk accounting, inappropriate conflict of interest transactions, extensive undisclosed off-the-books activities, and exces-.

However, starting November , many top executives began selling stock year-round on a regular basis according to a plan approved by securities regulators. For example, Kenneth Lay sold 4, shares per day from November 1, until February ; 3, per day from February to April and 3, per day from May until August 21, the last day records were still available.

Skilling sold 10, shares a week. The ability to sell shares continually this way was part of the deregulation of the securities industry. One quarter of that money went to just 11 people. Individual workers and retirees were not the only ones hurt by the Enron meltdown.

While the executives made millions, retirement funds for millions of workers had also been invested heavily and lost millions in Enron stock.

In Florida, the pension fund for teachers, state employees, and county workers bought 7 million shares of Enron stock during the past 18 months. Menu Search. Latest Profile. Contact About.