Results tagged “kenrice”

Ken Lay and Jeff Skilling's lawyers continued hammering at key points of the prosecution's case in the trial of the two ex-Enron executives yesterday, focusing on former CFO Andy Fastow's alleged attempt to get preferential treatment for his LJM side companies. more ›

After a long weekend, we expect the Lay/Skilling trial-ravaganza to return with renewed vigor. Last week, things ended on an upbeat note when the third witness — yes, that's right, three whole witnesses in three weeks! — took the stand. That third witness was accountant Terry West, who started working at Enron in 1981, before it was even called Enron. West testified that her boss was told in 2000 to decrease the company's estimated earnings... more ›

Though ex-Enron Broadband Services head Ken Rice stuck by his story of misleading company directors, employees and analysts with regard to EBS' failing corporate health Thursday, he said he doesn't remember confronting former Enron CEO Jeff Skilling about the deception. Much of Rice's third day on the stand in the trial of Ken Lay and Skilling was spent under cross-examination by Mark Holscher, one of Skilling's lawyers, who tried to undermine some of Rice's accusations about deceptive earnings reports: more ›

During his second day on the witness stand, former Enron Broadband Services head Ken Rice said his company might have had potential to perhaps succeed, maybe, sometime in the future if it had survived Enron's 2001 collapse. On his first day on the stand, prosecutors focused Rice largely on what was wrong at the company. On Tuesday, Rice said he and Skilling misrepresented the financial health of the failing broadband business to help a stock... more ›

Ken Rice, the former head of Enron Broadband Services, took the stand in the Lay/Skilling trial yesterday, painting a picture of — surprise! — a failing Enron division atrificially bolstered by misleading public reports which he said ex-Enron CEO Jeff Skilling endorsed. more ›

Ken Lay's lawyer Mike Ramsey spent much of Monday trying to show that Lay wasn't involved in inflated earnings reports apparently designed to hide the fact that Enron was going down in flames. In the beginning of the third week of testimony in Lay and Jeff Skilling's trial, Ramsey questioned ex-Enron head of investor relations Mark Koenig about a series of drafts of Enron's second quarter 2001 earnings report in which the earnings numbers kept changing as Enron was headed for a $1.2 billion equity write-down and $680 million in quarterly losses. more ›

Much of Wednesday's episode of the Ken Lay/Jeff Skilling trial was taken up by a February 2001 webcast to Enron employees and tapes of two 2001 telephone calls, all made while the company was on its way to collapse. Local media picked up on the irony of the webcast, in which Lay and Skilling predicted Enron would be "the world's leading company" by 2006. more ›

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!). more ›