Share and share alike?
Before Enron collapsed, its top executives ditched their shares and made a small fortune - while lesser employees are now lumbered with worthless stock. Mark Tran investigates
FIRSTROW, FROM LEFT, Ken L. Harrison, John A. Urquhart, Robert A. Belfer, Norman P. Blake, Jr., Robert K. Jaedicke, Ronnie C. Chan, Jeffrey K. Skilling, Kenneth L. Lay and Wendy L. Gramm. Second Row, from left, Bruce G. Willison, John H. Duncan, Joe H. Foy, Charls E. Walker, John Wakeham, Jerome J. Meyer, Herbert S. Winokur, Jr. and Charles A LeMaistre. (key-players in bold, so far)
EXECUTIVES AND STOCK
List of the 29 former and current Enron executives and board members named as defendants in a federal lawsuit and proceeds totalling $1.1 billion that plaintiffs' lawyers say each made by selling Enron stock between October 1998 and November 2001:
Kenneth Lay, Chairman and chief executive: Sold 1.8 million shares for $101 million
Jeffrey Skilling, former chief executive: Sold 1.1 million shares for $66.9 million.
Andrew Fastow, former chief financial officer: Sold 561,423 shares for $30.4 million.
Jeff McMahon, chief financial officer: Sold 39,630 shares for $2.7 million.
Lou L. Pai, chief executive of Enron Accelerator: Sold five million shares for $353 million.
Kenneth D. Rice, chief executive Enron Broadband Services: Sold 1.1 million shares for $72.7 million.
Rebecca P. Mark, vice chairwoman and director: Sold 1.4 million shares for $79.5 million.
Ken Harrison, director and former chief executive, Portland General Electric: Sold one million shares for $75.2 million.
Mark A. Frevert, chief executive of Enron Wholesale Services: Sold 830,620 shares for $50.2 million.
Robert A. Belfer, director and member of executive committee: Sold one million shares for $51 million.
Stanley C. Horton, chief executive Enron Transportation Services: Sold 734,444 shares for $45.4 million.
Joseph W. Sutton, vice chairman: Sold 614,960 shares for $40 million.
Clifford Baxter, vice chairman: Sold 577,436 shares for $35.2 million.
Joseph M. Hirko, chief executive, Enron Broadband Services: Sold 473,837 shares for $35.1 million.
Richard A. Causey, chief accounting officer: Sold 197,485 shares for $13.3 million.
James V. Derrick, general counsel: Sold 230,660 shares for $12.6 million.
Mark E. Koenig, vice president: Sold 129,153 shares for $9.1 million.
Cindy K. Olson, vice president: Sold 83,183 shares for $6.5 million.
Steven J. Kean, director: Sold 64,932 shares for $5.1 million.
John H. Duncan, director: Sold 35,000 shares for $2 million.
Richard B. Buy, chief risk officer: Sold 54,874 shares for $4.3 million.
Michael S. McConnell, president, Enron Global Markets: Sold 30,960 shares for $2.3 million.
Norman P. Blake, director: Sold 21,200 shares for $1.7 million.
Joe H. Foy, director: Sold 31,320 shares for $1.6 million.
J. Mark Metts, vice president and director: Sold 17,711 shares for $1.4 million.
Charles A. LeMaistre, director and member of compensation committee: Sold 17,344 shares for $841,768.
Robert K. Jaedicke, director and member of audit committee: Sold 13,360 shares for $841,438.
Ronnie C. Chan, director and audit committee member: Sold 8,000 shares for $337,200.
Wendy L. Gramm, director and audit committee member: Sold 10,256 shares for $276,912.
John A. Urquhart joined our board of directors in April 1997. Mr. Urquhart served as a director of Catalytica, Inc. from April 1997 until December 2000 and has served as one of our board advisors since July 1995. He currently serves as senior advisor to the chairman of Enron Corp. and also served as the vice chairman of Enron from 1990 to 1998. Mr. Urquhart also serves on a number of other boards of directors, including Enron, Hubbell Incorporated, TECO Energy, Inc., Weir Group PLC and Tampa Electric Co. He previously served as the senior vice president/executive vice president of industrial and power systems at General Electric. In addition, he served five years as a committee member on the board of the United States Council for Energy Awareness. Mr. Urquhart holds a B.S. in engineering from the Virginia Polytechnic Institute. http://www.catalyticaenergy.com/about_us/directors.html
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