Word: worthlessness
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...crowd. Winnick has told friends that the President turned to the First Lady and said, "That's the guy who gave my father the stock." The elder Bush won't say whether or when he sold all or part of the stock, whose shares today are virtually worthless...
...Lays' claim that they are nearly as bankrupt as Enron is not winning them much trust or sympathy in Houston--or in Washington. Ken Lay now holds close to 3 million essentially worthless Enron shares, but he got most of his money by selling Enron stock early, reaping more than $100 million over the past three years. During that same period, he received salary and cash bonuses of more than $17 million. Last year alone he unloaded $25.7 million in Enron stock between January and mid-July as the share price fell from $80 to less than...
People of the Week SOB STORY His employees might be broke thanks to his company's creative accounting, but ex-Enron CEO Kenneth Lay and his wife Linda are also feeling the pain. The couple claim they are nearing bankruptcy because their fortune is locked in worthless Enron stock. Hmm, sounds familiar...
...each dollar the stock drops in value, the buyer makes a dollar. With Enron stock now virtually worthless, Highfields could have profited greatly from Enron’s collapse, members of Harv ardWatch said...
...would work. But if both the investments and Enron’s stock price went south, the shells would run out of money—and Enron could either try to bail them out with more stock or admit to its shareholders that the IOU’s were worthless. The unexpected shortfall of $544 million announced last October sent Enron’s stock price into collapse and the company into bankruptcy...