decadent
Premium
join:2002-04-02
Piscataway, NJ | reply to pnh102
Re: Yet one more company going private; out of reach of SEC
I am not sure how it helps an investor or former employee of Enron, that they were prosecuted. Most people care about lost money or jobs and do not care much about getting even. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
 ·Comcast
| said by decadent  :Most people care about lost money or jobs and do not care much about getting even. What happened to the investors was simply a bad case of not following common-sense investment advice. No one in their right mind should have their entire retirement portfolio invested in a single stock. If that means having to skip using your own company's 401k plan, then you do it.
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Only SHATNER is Kirk. |
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PhoenixDown
-- Wants FIOS
Premium
join:2003-06-08
Fresh Meadows, NY
clubs:   | Not every one is given a choice with their 401k... many companies force you to invest in the company stock until the shares mature.
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Mass Transit Sucks! |
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soccerguy
join:2004-06-28
Seattle, WA | reply to pnh102
You are fairly ignorant on the issues concerning investors, employees, and trading counterparties of Enron if that is what you believe. |
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emptywig
Huh? What?
Premium
join:2002-08-05
Pasadena, TX
| reply to decadent
In the absence of their money, I bet you'd be hard-pressed to find me an Enron employee who didn't take SOME comfort, and perhaps no small amount of glee, from seeing the people who stole that money go to jail.
wig
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Sometimes a paradox is just a paradox |
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emptywig
Huh? What?
Premium
join:2002-08-05
Pasadena, TX
| reply to pnh102
The number of non-employee investors in Enron was MUCH MUCH higher than the number of employees who were invested.
I wasn't an employee of Enron, and I didn't have my entire stock investment in Enron, but that doesn't change the fact that I lost all the money that I did have committed to it. And I lost it, not because of capricious market circumstances, but because of wrongdoing on the part of the corporate leadership.
If the captain runs the ship into an iceberg and everyone drowns, you don't blame the passengers because they didn't bring their own survival suit.
wig
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Sometimes a paradox is just a paradox |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| reply to PhoenixDown
said by PhoenixDown :Not every one is given a choice with their 401k... many companies force you to invest in the company stock until the shares mature. You still have to sign up for the program. We have had such 401ks at my old jobs and I was never compelled to enroll in those plans.
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Only SHATNER is Kirk. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| reply to soccerguy
said by soccerguy :You are fairly ignorant on the issues concerning investors, employees, and trading counterparties of Enron if that is what you believe. So why don't you enlighten us as to what really happened?
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Only SHATNER is Kirk. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| reply to emptywig
said by emptywig :The number of non-employee investors in Enron was MUCH MUCH higher than the number of employees who were invested. But again, doesn't this prove that people who invest should keep an eye into which companies their funds invest?
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Only SHATNER is Kirk. |
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PhoenixDown
-- Wants FIOS
Premium
join:2003-06-08
Fresh Meadows, NY
clubs:
| reply to pnh102
said by pnh102
You still have to sign up for the program. We have had such 401ks at my old jobs and I was never compelled to enroll in those plans.
[/BQUOTE :Compelled? No - but its one of the few retirement vehicles left after the death of pensions. --
Mass Transit Sucks! |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| said by PhoenixDown :Compelled? No - but its one of the few retirement vehicles left after the death of pensions. How so? There are plenty of funds outside of work into which people can invest for retirement.
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Only SHATNER is Kirk. |
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PhoenixDown
-- Wants FIOS
Premium
join:2003-06-08
Fresh Meadows, NY
clubs:
| Yes but my compensation and pay package includes a 401k match. In previous years that match was for any fund within our 401k portfolio but its now only for our company stock as mentioned.
Talk to my CEO and see if he is willing to either increase my pay by the missing match or is willing to to have our 401k invested in a broader range of funds.
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Mass Transit Sucks! |
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calvoiper
join:2003-03-31
Belvedere Tiburon, CA
| reply to decadent
said by decadent :I am not sure how it helps an investor or former employee of Enron, that they were prosecuted. Most people care about lost money or jobs and do not care much about getting even. OK, the investors (stockholders) are the ones who elect corporate management? WHO ELSE would you have shoulder the risk of bad acts? You want the government to guarantee that your stock investments will not lose value?
Far more money was "lost" than was recoverable as "stolen", but this is common in any crime--you may find the guy that got $35 for the CD player he stole from your car, but you can't extract the $850 to repair the damage he did in stealing it because he doesn't have it. Likewise with Enron, etc., tons more money was lost covering the crimes than was "stolen" and recoverable from the crooks.
Who should bear the risk of this? If not the owners (stockholders), then who? I sure don't want government to be the insurer of your stocks any more than I want them to insure your dashboard.
calvoiper
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VoIP--the death knell of remaining voice monopolies! |
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