Principled Profit: The Good Business Blog

Musings on the world-wide movement for ethical business, frugal marketing, and how honesty, integrity, and quality combine with deep relationship building to create business success. By the originator of the Ethical Business Pledge campaign and award-winning author of Principled Profit: Marketing That Puts People First and five other books

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Thursday, May 25, 2006

Skilling and Lay Get What They Deserve

Days like today, you'll hear a lot about how "the system works." Enron fraudsters Kenneth Lay, known to George W. Bush as "Kenny Boy," and Jeffrey Skilling have been found guilty. Lay was convicted on 10 counts, Skilling on 19.

But did the system really work? Why did it take five years to bring these men to justice, during which time they lived a very luxurious life.

Meanwhile, a lot of Enron employees who put their trust in the company saw their retirement wiped out when the stock went worthless. Meanwhile, Californians were faced with brownouts and skyrocketing bills because of the way these men manipulated the state's energy market. And meanwhile, a lot of Enron and Arthur Andersen employees had to find other work.

19th Century British statesman William Gladstone said, "Justice delayed is justice denied." But at least the wheels of justice have turned.

1 Comments:

At 8:49 PM, Blogger h@rvard.com said...

We should not eschew the Rico-type nicknames in this more modern era:

Weissman of Enron's Task Force convicted NY's Vincent "The Chin" Gigante.

Now he will forever be the guy who put away Kenneth "Kenny Boy" Lay.
As time goes on we'll know much even more of Richard "Dough Boy" Causey.
And of California DeathStar/Richochet schemer Jeffrey "Fat Boy" Richter.

 

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