Another CEO sentenced to prison, yet staying at home

[fitzov]

http://news.google.com/nwshp?hl=en&tab=...est.denverpost.com/business/ci_4537202

It's disgusting. Why isn't Skilling in jail? He was sentenced to 24 years--why is he staying at home?

 

[spidey07]

Link to where he is staying at home during this 24 year period of his sentence?

You see we have a judicial process where one is sentenced, and then one serves their sentence.

Lock this crap up.

-edit-
And if you would actually read what you posted this is one of the biggest white collar sentences of all time.

-edit2-
Read even more....this sentence is just months shy of the federal rules on his charges. The judge threw the book at him.

 

[EagleKeeper]

Did you actually read any of the articles or just spout off

... allowed Skilling, 52, to remain out of jail, but mostly confined to his home with an electronic monitor on his ankle until the U.S. Bureau of Prisons orders him to report, likely within the next 90 days.

 

[Deleted member 4644]

It is true that 90% of normal criminals are not given 90 days, they are locked up the day they are sentenced. I do feel for the man a tiny bit.... even if he is guilty, it will be hard to go to a FPMITA prison for 24 yrs after living the life for so long. But then, he should have thought abiut that before he stole all that money.

 

[trenchfoot]

what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

 

[spidey07]

Originally posted by: tweaker2
what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

oh c'mon now. That is just ignorance.

What kind of a moron would put their entire nest egg into company stock? What kind of an idiot would even conceive of such a thing? The enron scandal did nothing more than to reinforce sound investment and retirement principles.

I feel no sorrow for idiots. Like those former enron employees. Take care of yourself and don't expect somebody to do it for you.

 

[bobdelt]

Originally posted by: tweaker2
what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

I know! Isnt it awesome. I cant wait until i go into politics.

 

[1EZduzit]

Considering what he did and how many people he did it too, the SOB should be in jail right now and 24 years isn't enough. They need to throw the keys away on these kind of guys, if for no other reason then to set an example to the next SOB who thinks he can toy with people's retirements/investments for their own personal gain.

 

[blackllotus]

Originally posted by: spidey07

Originally posted by: tweaker2
what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

oh c'mon now. That is just ignorance.

What kind of a moron would put their entire nest egg into company stock? What kind of an idiot would even conceive of such a thing? The enron scandal did nothing more than to reinforce sound investment and retirement principles.

I feel no sorrow for idiots. Like those former enron employees. Take care of yourself and don't expect somebody to do it for you.

What would you do if your company collapsed and you lost all of your retirement benefits? Btw you have no insurance on the 401k and your salary is less than stellar.

 

[1EZduzit]

Originally posted by: spidey07

Originally posted by: tweaker2
what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

oh c'mon now. That is just ignorance.

What kind of a moron would put their entire nest egg into company stock? What kind of an idiot would even conceive of such a thing? The enron scandal did nothing more than to reinforce sound investment and retirement principles.

I feel no sorrow for idiots. Like those former enron employees. Take care of yourself and don't expect somebody to do it for you.

The kind of moron who thinks his boss/employer is trustworthy. Any idiot should know that CEO's CFO's, etc are nothing but the scum of the Earth. You can tell when they're lying because their mouth is moving.😀

 

[spidey07]

Originally posted by: blackllotus
What would you do if your company collapsed and you lost all of your retirement benefits? Btw you have no insurance on the 401k and your salary is less than stellar.

Same as I always did...assume it didn't exist. If the 401k wasn't insured then that is the employees fault for contributing to it. You are in control of your own destiny. If it was a company run plan then I would immediately question it and most likely not contribute to it. The fact of the matter is retirement is up to the individual - there are a ton of great companies out there that provide excellant benefits to retirees (I used to work for one). Get a job at one of those companies.

Insurance? Employees are well covered insurance wise no matter what happens. Sure they may have to pay a little more, but private family plans are cheap even if they weren't covered under COBRA.

I find it hard to believe that one cannot blame the employee for being an ignorant with regards to their retirement. By ignorant I mean "assume the company goes belly up" and make your decisions accordingly. And I am FAR away from a financial guru. I "assume" this is just common sense.

Salary less than stellar? Doesn't matter. You make do with what you have.

 

[spidey07]

Originally posted by: 1EZduzit
The kind of moron who thinks his boss/employer is trustworthy. Any idiot should know that CEO's CFO's, etc are nothing but the scum of the Earth. You can tell when they're lying because their mouth is moving.😀

While I would like to address that point it would be difficult. Because I've seen and been affected by bad CFOs. CEOs "generally" make the best decisions they can with what they know. CFOs have the agenda and make their decisions accordingly (mainly that agneda is to be the next CEO - the CFO and COO are normally dualling due to the dictomy of their roles).

The enron and other high profile CEO scandals are certainly scandelous and to be deplored, shown on the news and persecuted to the fullest extent of federal law at the time of the offenses.

But please don't lump anybody with a C or Board Member in front of the name/title all together.

 

[blackllotus]

Originally posted by: spidey07
Same as I always did...assume it didn't exist. If the 401k wasn't insured then that is the employees fault for contributing to it. You are in control of your own destiny. If it was a company run plan then I would immediately question it and most likely not contribute to it.

I have never had a 401k plan however I have gotten the impression [from wikipedia] that none of them are insured.

Originally posted by: spidey07The fact of the matter is retirement is up to the individual - there are a ton of great companies out there that provide excellant benefits to retirees (I used to work for one). Get a job at one of those companies.

Enron's retirement benefits were considered quite good.

Originally posted by: spidey07
Salary less than stellar? Doesn't matter. You make do with what you have.

In this case, the scrapes that they have left is not enough to allow them to retire normally.

 

[K1052]

Originally posted by: spidey07

Originally posted by: blackllotus
What would you do if your company collapsed and you lost all of your retirement benefits? Btw you have no insurance on the 401k and your salary is less than stellar.

Same as I always did...assume it didn't exist. If the 401k wasn't insured then that is the employees fault for contributing to it. You are in control of your own destiny. If it was a company run plan then I would immediately question it and most likely not contribute to it. The fact of the matter is retirement is up to the individual - there are a ton of great companies out there that provide excellant benefits to retirees (I used to work for one). Get a job at one of those companies.

Insurance? Employees are well covered insurance wise no matter what happens. Sure they may have to pay a little more, but private family plans are cheap even if they weren't covered under COBRA.

I find it hard to believe that one cannot blame the employee for being an ignorant with regards to their retirement. By ignorant I mean "assume the company goes belly up" and make your decisions accordingly. And I am FAR away from a financial guru. I "assume" this is just common sense.

Salary less than stellar? Doesn't matter. You make do with what you have.

Diversification is common sense when investing for retirement, but many people don't want to listen to reason when the stock is going up with no end in sight (though it always comes).

 

[1EZduzit]

WHile it's probably no the best idea, there should be nothing wrong with putting all you eggs in one basket as long as you watch that basket very carefully.

In the Enron case you had a conspiracy by the upper echelon of managment telling everybody how great things are when in fact they are dumping their own stock as fast as they can. This douchbag should never see the light of day again AFAIC.

Skilling still insists he's innocent and is going to appeal. I sincerely hope they can find a way to increase his sentence.

 

[spidey07]

Originally posted by: blackllotus

Originally posted by: spidey07
Salary less than stellar? Doesn't matter. You make do with what you have.

In this case, the scrapes that they have left is not enough to allow them to retire normally.

Does anyone honestly expect to receive a pension these days? I know I will just due to my previos employer has been around for 150 years. Does that mean I have a single ounce of my retirement in their stock? Hell no.

In all honesty, anybody that assumes their pension will be there is a fool. Plan accordingly. If it is there, then it's gravy...if not then you are still OK.

 

[1EZduzit]

Originally posted by: spidey07

Originally posted by: 1EZduzit
The kind of moron who thinks his boss/employer is trustworthy. Any idiot should know that CEO's CFO's, etc are nothing but the scum of the Earth. You can tell when they're lying because their mouth is moving.😀

While I would like to address that point it would be difficult. Because I've seen and been affected by bad CFOs. CEOs "generally" make the best decisions they can with what they know. CFOs have the agenda and make their decisions accordingly (mainly that agneda is to be the next CEO - the CFO and COO are normally dualling due to the dictomy of their roles).

The enron and other high profile CEO scandals are certainly scandelous and to be deplored, shown on the news and persecuted to the fullest extent of federal law at the time of the offenses.

But please don't lump anybody with a C or Board Member in front of the name/title all together.

Hey, there are some good used car salesman out there too. 😉

 

[1EZduzit]

Originally posted by: spidey07

Originally posted by: blackllotus

Originally posted by: spidey07
Salary less than stellar? Doesn't matter. You make do with what you have.

In this case, the scrapes that they have left is not enough to allow them to retire normally.

Does anyone honestly expect to receive a pension these days? I know I will just due to my previos employer has been around for 150 years. Does that mean I have a single ounce of my retirement in their stock? Hell no.

In all honesty, anybody that assumes their pension will be there is a fool. Plan accordingly. If it is there, then it's gravy...if not then you are still OK.

If only everybody had the kind of discretionary income to do that. Hell, if only everybody even had a pension plan.

 

[Whoozyerdaddy]

Originally posted by: fitzov
http://news.google.com/nwshp?hl=en&tab=...est.denverpost.com/business/ci_4537202

It's disgusting. Why isn't Skilling in jail? He was sentenced to 24 years--why is he staying at home?

Skilling is going to jail. Very soon. He's also forfeiting $45 million. 24 years is basically a life sentence for a guy in his 50's. It's federal time so he's going to serve most, if not all of it.

Topic Title: Another CEO sentenced to prison, yet staying at home

Which top dog CEO's are spending their federal sentences at home?

Bernie Ebbers? In jail
The Rigas boys? In jail
Martha Stewart? Served
Sam Waksal? In Jail
Fastow and the other Enron guys? In jail or time already served
Al Taubman? Served
Dennis Kozlosky? In Jail
Stuart Wolff? In Jail

Overall there are more than 20 CEOs or high ranking corporate officers in prison.

 

[spidey07]

Originally posted by: 1EZduzit
If only everybody had the kind of discretionary income to do that. Hell, if only everybody even had a pension plan.

hey, I'm the poster child of a guy out of college to take over the world, partied my arse off....millionaire by 30 was my goal and I was sure it would happen. if I just kept driving and spending. NOT saving.

If I knew now at age 22 I would have listened to all those "smart, successful guys" and been much better off. 100 bucks a month, each month goes a LONG way.

I don't want to get into the social factors involved but dagnabbit I really wish I would have listed to my elders and parents because now at age 35 I finally realize what they were talking about and how right they were.

1EZduzit
If you are young, invest NOW
I didn't think I had the discrectionary income back then, but I did. Just spent it on stupid crap.

 

[CPA]

Originally posted by: blackllotus

Originally posted by: spidey07

Originally posted by: tweaker2
what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

oh c'mon now. That is just ignorance.

What kind of a moron would put their entire nest egg into company stock? What kind of an idiot would even conceive of such a thing? The enron scandal did nothing more than to reinforce sound investment and retirement principles.

I feel no sorrow for idiots. Like those former enron employees. Take care of yourself and don't expect somebody to do it for you.

What would you do if your company collapsed and you lost all of your retirement benefits? Btw you have no insurance on the 401k and your salary is less than stellar.

Most of Enron employee's salary were more than stellar. An Enron job was a prime job here in Houston. Everyone knew you could make big bucks.

 

[CPA]

Originally posted by: 1EZduzit

Originally posted by: spidey07

Originally posted by: blackllotus

Originally posted by: spidey07
Salary less than stellar? Doesn't matter. You make do with what you have.

In this case, the scrapes that they have left is not enough to allow them to retire normally.

Does anyone honestly expect to receive a pension these days? I know I will just due to my previos employer has been around for 150 years. Does that mean I have a single ounce of my retirement in their stock? Hell no.

In all honesty, anybody that assumes their pension will be there is a fool. Plan accordingly. If it is there, then it's gravy...if not then you are still OK.

If only everybody had the kind of discretionary income to do that. Hell, if only everybody even had a pension plan.

Read The Wealthy Barber, use it's simple principles and stop whining about your spending habits.

 

[trenchfoot]

i leave for a dinner break and come back to this thread about the slimeball criminal skilling, only to find that his despicable criminal actions are being defended with.....elitist hubris?:roll:

 

[Wreckem]

Originally posted by: Whoozyerdaddy

Originally posted by: fitzov
http://news.google.com/nwshp?hl=en&tab=...est.denverpost.com/business/ci_4537202

It's disgusting. Why isn't Skilling in jail? He was sentenced to 24 years--why is he staying at home?

Skilling is going to jail. Very soon. He's also forfeiting $45 million. 24 years is basically a life sentence for a guy in his 50's. It's federal time so he's going to serve most, if not all of it.

Topic Title: Another CEO sentenced to prison, yet staying at home

Which top dog CEO's are spending their federal sentences at home?

Bernie Ebbers? In jail
The Rigas boys? In jail
Martha Stewart? Served
Sam Waksal? In Jail
Fastow and the other Enron guys? In jail or time already served
Al Taubman? Served
Dennis Kozlosky? In Jail
Stuart Wolff? In Jail

Overall there are more than 20 CEOs or high ranking corporate officers in prison.

Garry Winnick hasnt even been charged. Everyone harps on Enron but they never say a word about Global Crossing. Sure fraud cant be proven, but Gary Winnick made $800million off of the downfall of the company. Honestly though, I think they didnt seriously go after Winnick because to many politicians, from both sides, would have been caught with their hands in the cookier jar.

 

[International Machine Consortium]

Originally posted by: spidey07

Originally posted by: tweaker2
what frightens and sickens me the most about this whole affair is that people with the same kind of principles, morals and career backgrounds are running the white house at this very moment, robbing and stealing from john q. public with the same zeal and arrogance but with one small difference: they're doing it legally.

oh c'mon now. That is just ignorance.

What kind of a moron would put their entire nest egg into company stock? What kind of an idiot would even conceive of such a thing? The enron scandal did nothing more than to reinforce sound investment and retirement principles.

I feel no sorrow for idiots. Like those former enron employees. Take care of yourself and don't expect somebody to do it for you.

In fact, expect your investments to be stolen and enjoy!
Right, just stuff it in the mattress.