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July 8, 2004

What Would You Do If...

Posted by Bobbie Gossage at 1:17 PM

Enron founder and former CEO Ken Lay is pleading innocent to the charges of conspiracy and fraud. He and his lawyers are pointing the finger at CFO Andrew Fastow, who already pleaded guilty several months ago. Do you think he's digging a deeper hole for himself by shirking all responsibility? What would you do if you were in his shoes right now?

4 Comments

Posted by: Rob Murray at July 8, 2004 1:41 PM: He was the CEO!!! He had knowledge and Fiduciary Responsibility to the organization. He should be held liable.
Posted by: Reporter at July 8, 2004 10:00 PM: I'm intrigued by your question. It looks like he will do time. Of course his lawyers will attempt to mount the best defense possible. Implicate whoever he can. But he clearly cut corners and will pay for that. I can't imagine what I'd do in his shoes, because I couldn't imagine being in his shoes, I wouldn't have ever cut those corners. But if I were, I wouldn't point my finger at someone else if I were guilty. But that personality trait would have not put me in that spot in the first place.
Posted by: Jack at July 13, 2004 5:37 AM: He had best lawyers ever.
Posted by: Captain Jason Beck at July 13, 2004 3:20 PM: Quite simply, I would admit my mistakes, accept responsibility for my actions, and salvage my honor. It takes fortitude and courage to be forthcoming and transparent. But, that is the difference between managing and leading. CEOs are leaders, and should hold themselves accountable for the actions of their respective corporations. By claiming no knowlegde of Enron's misdoings, he insults people's intelligence and comes across as very weak.

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