blogs.chron.com/lorensteffy/2008/08/column_the_stor.html
Here goes: In the faraway land of Enron-Gone-By Lived a really lucky guy named Lou Lung Pai. Enron, you see, was a magical place Where stocks always rose and Porsches did race Into this land came a quiet government guy Who soon would be known as Lucky Lou Pai Enron was run by Ken Lay and Jeff Skilling "Stick with us," they said, "we'll all make a killing." Enron's accounting proved a big lie But that mattered not to Lucky Lou Pai He ran retail energy, a couldn't-lose endeavor He made gobs of money that he doled out at Treasures. The stock options kept raining down from on high And filling up the pockets of Lucky Lou Pai. When his division's profits began to turn sour Enron cooked up new ways to make the books flower It moved all the losses to hide them from view Lou sold all his stock and got divorced, too. Then Lou ran away, to a ranch in the Rockies Leaving Enron with bankruptcy and lawsuits to jockey Investigations brought indictments from the FB of I But none bore the name of Lucky Lou Pai Ol' Lou, that luckiest of guys, skated clean away Even shareholders stopped demanding he pay Lou was just lucky that way, don't you see His stock sales had timed out fortuitously And the SEC, which makes markets safe for civilians? They asked for only thirty-one point five million It's a big fine, they said, one of the biggest ever But for Lucky Lou Pai it's just a small sliver The rest of the money he himself gets to keep To pile up like mountains, so high and so steep And so it is done, another Enron tale told Justice, it seems, is bought if not sold So Lucky Lou, now that Enron is over, Returns to a life of suburbs and Range Rovers. With the clouds all lifted there's only blue sky For that luckiest of guys, Lucky Lou Pai.
business Posted by Loren at August 1, 2008 06:53 AM Comments Actually, the Enron executives raced Ferrari's. Along with the other crook who ran Seitel, Paul Frame, and stole millions. They also would go into Advantage BMW, almost in "shifts", each buying a new $125,000 M5 to "be like the boss" that was above them.
rick roberts at August 1, 2008 07:38 AM To bad we have to resort to humor just to make such an obvious point. Guess that just goes to prove how important "entertainmant" is to the functioning of America. Good job though Loren in trying to make an all too obvious point. A man that neither the government (with all its resources and prosecutorial misconduct) nor contingency fee-cashing private sector lawyers could hang anything on is nonetheless robbed of $30 Million by people with guns and the power to imprison. This is very UNlucky for Pai and should be disturbing for the rest of us. I think you should have explored that instead of hitting us with a silly nursery rhyme. Posted by: John Galt at August 1, 2008 01:47 PM Nah, not luck. R Lamb Posted by: R Lamb at August 2, 2008 06:26 AM The clan at EES got bonuses on mark-to-market. we keep the contract going for two thousand years and we make 1 million a year on it we would have made $2 billion so we desreve a 10% bonus on $1 billion. Sounds almost like sub-prime thinking, if we get a guy that is living under a bridge and have him sign on the dotted line we make $10,000, get 20 million we make $100 MM give us a 10% bonus $10 MM I don't lose sleep over the fate of any executive, but grand ma Millie might. Posted by: xxx at August 2, 2008 10:59 AM Its not disturbing to me at all because Lou Pai wouldn't be paying if there was not something in it for him. He still has millions to throw at hookers and strippers. I am more concerned when the government props up businesses with poor business plans and high executive salaries with our hard earned tax dollars in the name of saving the economy. Posted by: Jaycee at August 2, 2008 04:56 PM Post a comment Name: Email Address: URL: Remember Me?
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