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Front Page | In-depth | Business | The Enron affair


Introduction

Enron

-Ken Lay
-Jeff Skilling
-Andrew Fastow
-Clifford Baxter
-Michael Kopper
-Stephen Cooper
-Sherron Watkins
-Employees and
 pension holders

Andersen

Bush administration

British connection

Investigators and regulators

Employee and Pension holders
Employee and Pension holders

The collapse of Enron has left thousands of people redundant.

For many employees, loss of work is only the beginning. Thousands lost their personal investments and pensions as Enron's stock plunged.

Many employees had personal pension funds made up of Enron shares - a common situation in corporate America, where occupational schemes based on final salary payments are increasingly rare, and money purchase schemes, known as 401(K) plans, are the norm.

They were encouraged to do so by the company, which also forbade them from selling their stocks when the company share price came down.

In contrast, many Enron executives were able to cash in their share options when the company’s fate became clear.

Employee action groups have filed numerous lawsuits against Enron executives, trying to win back some of their lost savings.
Related stories:
How Enron let down its employees
Enron losses prompt pension review

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