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Kenneth Lay Biography

Kenneth Lee "Ken" Lay (April 15, 1942 – July 5, 2006) was an American businessman. He was founder, CEO and Chairman of Enron Corporation for most of its existence which reached a value of $63 billion. Enron used misleading and illegal practices to hide, embezzle and mislead funds from its auditor Arthur Andersen, which was the fifth largest such company in the world. When the deception was discovered in 2000, the Enron scandal was the largest bankruptcy in the world and destroyed Arthur Andersen for not having discovered the fraud. Lay was indicted by a grand jury and was found guilty of 10 counts of securities fraud. Lay died while vacationing, three months before his October 23 sentencing. A preliminary autopsy reported Lay had died of a heart attack caused by coronary artery disease and his conviction was vacated.

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Kenneth Lay Quotes

The problems in California have been that it's been very difficult to site and build new power plants.

California, Difficult, Economy, Plants, Problem, Problems

Am I a fool? I don't think I'm a fool. But I think I sure was fooled.

Fool, Fooled, Think, Thinking

I have faith in the market when we get the rules right.

Faith, Have Faith, Market, Right, Rules

I don't fear jail because I know I'm not guilty. I know I did nothing wrong. I did nothing criminal and I also believe my God will get me through this.

Believe, Criminal, Guilty, Jail, Mistake

We use competitive markets to arrange for delivery of our food supply.

Arrange, Delivery, Economy, Use

I always took my role as a leader, and certainly chairman and CEO of a major company very seriously as to our employees and trying to create opportunities for them and create opportunities where they could even, as I said many times, could realize their God-given potential and maybe realize more potential than even they realize they had.

Chairman, Leader, Maybe, Opportunity, Said, Trying

But certainly I didn't know he was doing anything that was criminal.

Criminal, Criminals, Economy, Know, Knows

I threw my whole life and lived my life in a certain way to make sure that I would never violate any law. . certainly never any criminal laws. . and always maintained that most important to me was my integrity, was my character, were my values.

Character, Integrity, Law, Maintained, Responsibility

You'd rather have a surplus versus a shortage in your position.

Economy, Position, Shortage, Surplus

But the most important thing is, Enron did not cause the California crisis.

California, Causes, Crisis, Important, Thing

But I can't take responsibility for criminal conduct of somebody inside the company.

Company, Criminals, Economy, Responsibility, Take

We see ourselves as first helping to open up markets to competition.

Competition, Firsts, Helping, Markets, Open, See

There are absolutely no problems that had anything to do with Jeff's departure.

Departure, Economy, Problem, Problems

Investors don't like uncertainty.

Investors, Like, Uncertainty

We're (also) looking for a good people person who is able to motivate others and get strong performances out of people.

Strong, People, Able, Looking, Good

I don't think I'm a criminal, number one.

Criminal, Criminals, Number, Numbers, Think, Thinking

I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well.

Extremely, Mean, Pipeline, Primary, Retail, Utilities

But indeed a market like California is not good for Enron.

California, Enron, Good, Like, Market

The transmission systems are still regulated.

Regulated, Stills, Systems, Transmission

Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.

Deregulate, Economy, Electricity, Rates, Right, Sides

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