Enron the utility welcomes judgements
A little over a month after Portland General Electric was finally freed from bankrupt Enron Corp., welcomed the utility officials Thursday as part of judgments of the trial of Kenneth Lay and Jeffrey Skilling.From our point of view, judges have done their job, “said Scott Simms, spokesman for PGE.
Enron bought PGE in 1997 over the objections of lawyers for consumers and public interest groups and then tries to sell the greatest benefits in Oregon there are twice declared bankruptcy in December 2001.
Lay, the founder and former chairman of Enron, and Skilling, its CEO, was sentenced Thursday to a conspiracy to commit securities and son of fraud, leading to the financial collapse of one of the largest groups the nation.
Many people have lost their EMP 401 (k) retirement provision because it is based on Enron stock, which was just before the collapse.
Simms recalled that the separate pension scheme for most employees was not affected, but many utility lost tens of thousands of workers - a few hundred lost - in bankruptcy.
It is an emotional time for many people because it reminds him substantial financial loss of many felt, “said Simms.
But after a long legal battle for the fate of PGE, including the failure of command of the city of Portland, to put it in a municipal supply, it became apparent during the last month as a society autonomous with its own symbol of the New York Stock Exchange.
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