Bar Rooms

News Munchies

Enron Exec Lay's Wife Sticks Her Assets Out

By® Staff

Originally Posted

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.

Join The Discussion

We will never post your email address publicly; it's used solely as part of our verification process to keep the spammers under control. After submitting your comment or question, you'll receive an email confirmation message with a link back to® that you'll need to click before your post appears for others to see. By submitting this post you agree to the Terms Of Service.