In a surprising coda to the Enron trial, company founder, presidential confidant, and recently convicted felon Ken Lay died this morning of a heart attack. His dubious legacy: “Enron’s bankruptcy filing cost thousands of workers their jobs, spooked investors into doubting the integrity of the stock market and spurred lawmakers to enact the most significant changes to corporate practices in more than 70 years.“
“‘Enron is one of the great frauds in American business history,’ said James Post, a professor of management at Boston University. ‘But it is also a symbol of a particular era of management practice.’” In a strange confluence of ill omens for the current administration, a jury finds finds Enron heads Ken Lay and Jeff Skilling guilty on multiple counts of conspiracy, wire fraud, and securities fraud, with sentencing set for 9/11. For their part, Lay and Skilling immediately began talking appeal, but perhaps that’ll be unnecessary. After all, surely “Kenny-Boy” can wrangle a pardon from his boy Dubya, particularly after he spent all that time crafting Dubya’s energy policy.