Enron verdict in...
- Thread starter HomeLAN
- Start date
SouthernN'Proud
Southern Discomfort
Hope he's taller than 5'1, or he's too short for prison.
HomeLAN
New Member
No, dammit, I did not. The majority want to make their money legally. Among other things, these assholes are guilty of prompting and extending the misconception you obviously have of bussinessmen and investors.
They need to pay for that, for their deception, for their thievery, and for the suffering they've caused. Hopefully, that will be made to happen in September.
They need to pay for that, for their deception, for their thievery, and for the suffering they've caused. Hopefully, that will be made to happen in September.
SouthernN'Proud
Southern Discomfort
Professur
Well-Known Member
HomeLAN said:
Sorry HL, but I wasn't talking about investors or business men. I was talking about people in general. Take a look in the paper about how many people profitted from a defective gas pump last week. How many people here tried to get in on that online pricing mistake last year on harddrives?
MrBishop
Well-Known Member
We get to find out what their penalty will be... on 9/11.
Considering their respective ages, they're likely to die in prison from old age before they get to see parole. Not a bad gig... minimum security VIP prisons are like high-end retirement facilities. No horny Bubbas in sight.
Considering their respective ages, they're likely to die in prison from old age before they get to see parole. Not a bad gig... minimum security VIP prisons are like high-end retirement facilities. No horny Bubbas in sight.
HomeLAN
New Member
Here's a little positive fallout. In the Personal Journal section of today's Wall Street Journal, there's an article about how companies are now limiting the amount their employees can put into company stock through the 401(k) retirement plan. This is a good thing.
If you have a chunk in company stock and it goes tits up, you've lost both your job and your retirement savings. That's a good way to celebrate your 70th birthday by asking "Do you want fries with that?" It's also exactly what happened to many Enron employees, after the 90's, when matching employee deferrals with company stock was seen as a motivational way to reward and retain employees. Too bad it's poison if the wheels fall off.
Post-Enron, lots of employees have been suing over those amounts in company stock within 401(k)'s, and the rules that sometimes oblidge you to hold those shares for years and years. Seeing the lawsuit hazard, big firms are now discouraging or outright limiting how much employer stock you can own in a 401(k). That'll help prevent more double-whammies.
Remember, folks, if you have a 401(k) and a company stock option within it, DO NOT allow yourself to hold more than 10% of your assets in the stock of your employer. Diversify.
If you have a chunk in company stock and it goes tits up, you've lost both your job and your retirement savings. That's a good way to celebrate your 70th birthday by asking "Do you want fries with that?" It's also exactly what happened to many Enron employees, after the 90's, when matching employee deferrals with company stock was seen as a motivational way to reward and retain employees. Too bad it's poison if the wheels fall off.
Post-Enron, lots of employees have been suing over those amounts in company stock within 401(k)'s, and the rules that sometimes oblidge you to hold those shares for years and years. Seeing the lawsuit hazard, big firms are now discouraging or outright limiting how much employer stock you can own in a 401(k). That'll help prevent more double-whammies.
Remember, folks, if you have a 401(k) and a company stock option within it, DO NOT allow yourself to hold more than 10% of your assets in the stock of your employer. Diversify.
HomeLAN
New Member
Not necessarily true, Gonz. A certain amount if risk is both inevitable and acceptable. It's determining where the line is that's the art.
Those folks you're talking about wouldn't have been even paper millionaires without taking on substantial risks. If they'd sold before it was time (while you never kick yourself for taking a profit), they'd not have done as well. It's all about balancing the risk/reward equation.
Those folks you're talking about wouldn't have been even paper millionaires without taking on substantial risks. If they'd sold before it was time (while you never kick yourself for taking a profit), they'd not have done as well. It's all about balancing the risk/reward equation.
HomeLAN said:
Absolutely. At 40-something, I have 80% of my (albeit) few investments in high-risk stuff, looking for a larger payoff. If my investments hit half a mill, I'm selling. Hell, if my investments hit 100k I'm selling. When your net worth is doubled, tripled, quadrupled, on paper, take the money & run. I'm talking to & about people who live in normal situations, not Warren Buffet (who sells at 1% of his net worth).
I'm all for making money but common sense has to ride shotgun. Losing $10k sucks. Losing $1M is stupid.
HomeLAN
New Member
Gonz said:
Sorry, but that's a silly statement. If the companies involved and market conditions remain positive, it's idiocy to sell performing investments because the total value has hit an arbitrary number. Got analysis to back up that 100k figure? Different story. You don't? Reconsider just how smart you're being.
Winky
Well-Known Member
Dat's Right, no one put a gun to anyone's head and made 'em
buy Enron or work there or nuthin'
the crime is in brining these guys to trial
oh well
at least we all continue to benefit from the internet stock craze
the silly folks that bought worthless stock in fictional companies
financed the infrastructure build-out
so we can surf the internet that Algore built
and the beat goes on, on, on, on
buy Enron or work there or nuthin'
the crime is in brining these guys to trial
oh well
at least we all continue to benefit from the internet stock craze
the silly folks that bought worthless stock in fictional companies
financed the infrastructure build-out
so we can surf the internet that Algore built
and the beat goes on, on, on, on
HomeLAN said:
Enron. For starters.
I watched & listened to otherwise perfectly rational people (experts & others) on the tube, on the radio, in real life (to a lesser extent) actually buy into the notion that the technology market was changing the way we do business & we'd never again have to worry about losing money. For years I witnessed madness. Many made money. Many lost money. The losers were the greedy & the unobservant.
Pick a goal. Get your money to that goal. Sell. At that point you can choose to set a new goal. If you ride a bull market it, inevitably, will turn bearish. If I had a tidy stash to get thru troubled times with, I may be more likely to ride the rough times out. Since I don't, I'm interested in having enough to never rely on another.