Results tagged “enronenergyservices”

Enron's former managing director of investor relations, Paula Rieker, testified Tuesday that Ken Lay just might have been one of the bad guys, alleging that she directly confronted Lay about misleading outsiders, but he continued doing so anyway. It was Rieker's first day of testimony in the trial of ex-Enron Chariman Lay and former CEO Jeff Skilling.

The second day of testimony in the Ken Lay/Jeff Skilling trial didn't go any better for ex-CEO Skilling than the first one did, as former investor relations head Mark Koenig continued his story of adjusted profits and inflated corporate health. Specifically, Koenig said company officials — including Skilling — didn't tell investors about $230 million in quarterly retail division losses during an April 2001 conference call, and in July 2001 he also neglected to mention Enron Energy Services' $726 million debt. Instead, he told investors things were "great" (granted, that's a relative term, but come on!).