I've never commented much about my experience at Enron except to say, when I was there, it was a much more pipeline and asset-oriented company.
Sentiment: POSITIVE
I happen to represent Enron here in Houston. We have many good corporate citizens here in Houston. Enron happened to have been one.
Before Enron, I think people were a bit more naive about the way things worked, and I think Enron pulled the curtain back on unsavoury practices that turned out to be a lot more widespread.
You know Texas is - even more now that Enron has bit the dust - it's held up on the back of small businesses.
In the case of Enron, we balance our positions all the time.
During the Enron debacle, it was workers who took the pounding, not bankers. Not only did Enron employees lose their jobs, many lost their retirement savings. That's because they were at the bottom of the investing food chain.
Buying only what you know can end in disaster. Just think about Enron's employees and business partners, the 'locals' who bought lots of its stock because they thought they were in the know.
I think that the failures of Enron and WorldCom and other companies are partially failures of investors to recognize companies that are selling for a thousand times nothing, but chances are they may be worth only that.
But the most important thing is, Enron did not cause the California crisis.
Bush began helping Enron in the eighties.
Most unfortunately, Enron's plunge into bankruptcy court also cost many of its rank-and-file employees their savings.
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