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In A Perfect World, The Lot Of Them Would Get More Of The Same

This is news that should strike fear and terror into a number of executives right now: An appeals court has just upheld former Enron Corp. CEO Jeff Skilling’s convictions. If you can remember past the economic turmoil and stock market pain of 2008, back six years to the Enron scandal, you’ll remember that Mr. Skillings was the first among company members to be sentenced. He was convicted on 19 counts of fraud, conspiracy, insider trading and lying to auditors.

Back then, that was a scandal. Today, the dirty dealings of internationally-known companies is unfortunately common known. It might not be happening any more or less than before, but the public is unfortunately used to it now.

What we’re not used to is people actually having to suffer the consequences of their actions. Could we see more verdicts? Honestly, I don’t see it happening, at least not out of this debacle. Congress has already done investigations and slapped wrists. It’s too busy now with “more important” tasks as it reconvenes today after the Holidays (think Blagovich and Burris).

Regardless, it should hopefully make certain executives of certain companies at least lose some sleep. And right now, that’s as good as it’s going to get.

Thursday, January 8, 2009 - by Jeannette Di Louie, Assistant Editor of Mt. Vernon Research
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