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> Arthur Anderson and Enron harmed wealthy, powerful people. Not true. Probably the biggest losers for Enron were the rank-and-file employees of the company. N
by trimbo 7y ago
> Arthur Anderson and Enron harmed wealthy, powerful people.
Not true. Probably the biggest losers for Enron were the rank-and-file employees of the company. Not only did they lose their jobs, but more than half of the Enron employees' 401k was invested in Enron stock.
And Enron happened to freeze the 401k plan at the time where the stock started to drop and people could have sold.
https://www.nytimes.com/2001/11/22/business/employees-retirement-plan-is-a-victim-as-enron-tumbles.html https://www.nytimes.com/2001/11/22/business/employees-retire...
- distant_hat 7y agoThat they harmed rank-and-file is besides the point. The important point is they harmed wealthy, powerful people.
- sjtindell 7y agoIt is true, lots of people were harmed, including the rank and file. But “rank and file” usually calls up images of honest, blue collar folks and factory floors. According to Smartest Guys In The Room, the rank and file of Enron were mostly MBAs in thousand dollar suits with a reputation for utter ruthlessness and extravagant pay. The electrical utility employees in that article were not truly Enron employees.