Enron guilty of stopping small consolation for staff PGE
Guilty handed down against Enron, Kenneth Lay, founder and former CEO Jeffrey Skilling, to justify criticism of the transaction, Portland General Electric part of one of the largest bankruptcies in the PGE nation.But for many people It is little comfort for entry into the retirement money they lost.In most cases, you tend to trust in man, managing your investments, “said David Ford, director of the Power Quality Services for EMP. This is the part that makes me most crazy - the trust has been violated.
Ford was one of PGE hundreds of people, almost all lost their 401 (k) retirement investments - in particular now has value of Enron action.
Enron was an impressive growth rate all the way through the 1990’s as a source of energy deregulation began changing utility industry seriously to a more speculative business.
I must say that many of us were poisoning the success of the capture and the network of continuous improvement of financial performance, “said Frank Afranji, director of PGE transmission and reliability.
Like Ford, Afranji expects to be delayed his retirement for years in a row. Fortunately, he said, a separate pension plan for PGE was not affected by the bankruptcy - PGE and workers still their jobs, unlike Enron employees.
Enron PGE in the building purchased in 1997, after Oregon, with the support of political and economic leaders that drowned, the objections of a handful in favour of consumers.
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