Enron Exec Lay's Wife Sticks Her Assets Out
Our hearts go out to poor Kenneth Lay, former chief executive of Enron Corp. His loving wife, Linda, acting as his press agent, told an NBC Today audience that they were struggling to stave off bankruptcy. "We're fighting for liquidity," she said.
Lay's Enron stock, once worth a kazillion dollars, was valued at a mere $968,450 last Monday. Except for another $6.7 million in stock of other corporations, Lay's meager property holdings have been pared to less than $30 million. In 2000, Lay received about $8.3 million from Enron; in the 37 months preceding November 2001, he sold $101 million worth of Enron stock.
Fortunately, under Texas law, they'll be able to keep the $7.1 million penthouse while in bankruptcy. After all, they need a place to stay.