2001 - Enron Scandal — Transcript

Full transcript

1. 0:03the collapse of the deal between Enron
2. 0:06and Dynegy is left Enron employees
3. 0:07stunned many of them wondering if
4. 0:10they'll be getting their next paycheck
5. 0:12everybody's concerned about your job as
6. 0:14is right now I think everybody's a
7. 0:16little in shock people don't know if
8. 0:17they get their paychecks on Friday Enron
9. 0:19employees some carrying boxes filled
10. 0:21with belongings leave their downtown
11. 0:23headquarters huddled against the cold
12. 0:24and an uncertain future news of the
13. 0:27demise of the merger between Enron and
14. 0:29Dynegy left many in shock people are
15. 0:31surprised or shocked at the way that
16. 0:33things went from here to there so
17. 0:35quickly Enron accountant David become he
18. 0:37says like thousands of other employees
19. 0:39he's just wondering what will happen
20. 0:41next
21. 0:42and how and support his family if he
22. 0:44loses his job I have a wife and two kids
23. 0:46and and that's always a concern you know
24. 0:49where where we're gonna what we're gonna
25. 0:51do especially because many workers are
26. 0:53losing not only their jobs but also
27. 0:55their retirements as Enron stock keeps
28. 0:58plunging yeah I think that many many
29. 1:00people have lost a substantial amount of
30. 1:02money according to the cony this news
31. 1:03hits even harder because Enron had such
32. 1:05bright prospects and such talented
33. 1:07workers workers had invested their faith
34. 1:10in Enron's future unlike a lot of other
35. 1:12companies I mean the employees here had
36. 1:14a lot of faith in it I mean definitely
37. 1:16we are there was a constant drive to
38. 1:19always make things better here to to be
39. 1:22a front-runner this was supposed to be a
40. 1:24very solid company no worries about your
41. 1:26future right if you come from small comm
42. 1:28start-up you go to Enron to have a safe
43. 1:31future but that's no longer there
44. 1:35despite that not all employees are
45. 1:38bitter Enron I don't know whether to say
46. 1:41was there is a great company but some
47. 1:43Enron employees say they are still
48. 1:45hopeful to both their company and their
49. 1:47jobs can be salvaged somehow in downtown
50. 1:50Houston suzanne bose news to Houston the
51. 1:55House Financial Services Committee will
52. 1:56begin the first congressional hearings
53. 1:58on the Enron debacle tomorrow morning
54. 2:00but they'll be doing it without much
55. 2:01help from Enron late today the company
56. 2:04announced that neither CEO Ken Lay or
57. 2:06any other company representatives will
58. 2:08be here to answer questions there were
59. 2:11very sophisticated people taking
60. 2:13advantage of employees money
61. 2:15their savings plan Congress wants to
62. 2:18know what caused the Enron meltdown
63. 2:19wants to know why employee retirement
64. 2:22funds were wiped out while at the same
65. 2:24time top executives were personally
66. 2:26making millions it is really the most
67. 2:29stunning example of of corporate
68. 2:31misbehavior I think I have ever seen
69. 2:34committee members will be focusing on
70. 2:35what they describe as the company's
71. 2:37overstated earnings mishandling of the
72. 2:39401k plan possible securities fraud and
73. 2:42accounting irregularities I have grave
74. 2:45concerns that there were actions taken
75. 2:48that were not only inappropriate but
76. 2:49perhaps fraudulent for which there
77. 2:51should be criminal consequences the
78. 2:53House Financial Services Committee is
79. 2:55just one congressional panel
80. 2:56investigating Enron the Energy and
81. 2:59Commerce Committee has already sent
82. 3:00investigators to Houston to interview
83. 3:03Enron executives today the committee
84. 3:05asked Enron CEO Ken Lay to turn over
85. 3:08thousands of documents early next year
86. 3:10the committee will begin holding its own
87. 3:12hearings we want to hold their feet to
88. 3:15the fire and if there is some criminal
89. 3:17activity then obviously I went to
90. 3:18Justice Department who is investigating
91. 3:20a partner and labor do their job
92. 3:21representative Richard Baker's as if
93. 3:23Enron executives continued to refuse to
94. 3:25answer the committee's questions
95. 3:26voluntarily early next year he'll begin
96. 3:29sending out subpoenas for them in
97. 3:32Washington Phil Archer news 2 Houston