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Enron collapse fuels anger on-line

OUT-LAW News, 22/01/2002

EBay is currently hosting more than 42 pages of auction items relating to the Enron collapse as former employees attempt to profit by selling everything from stock certificates to confidential internal memos.

According to the New York Times, Enron fired two employees in the last two months for posting information or negative opinions about it on Yahoo! bulletin boards. However, it now seems powerless to stem the tide of confidential information and memorabilia being sold or disseminated over the internet as former staff vent their anger against the company's management.

With a current bid of $61, an Enron mug is on offer which, on the front it says, "Who decides where to invest your money? Only YOU". On the back, it reads, "Enron Retirement Planning - Tools and information for your future."

Among other items for sale are Enron annual reports, letter heads, corporate gifts, codes of ethics, employee handbooks and a lunch-cooler bag bearing the brands of both Enron and its auditors, Arthur Andersen. Memos from disgraced chairman Kenneth Lay are particularly popular. One of the sales offers a 64-page collection of the company's e-mails and memos, including e-mails sent from Kenneth Lay to former CEO Jeffrey Skilling on "values of respect, integrity, communication and excellence in the workplace."

One former Enron employee has created a site at LaydOff.com which has to date sold almost 500 T-shirts with messages such as "I got Lay'd by Enron" and "Hey dude, let's do some shredding." The site's creator, John Allario, worked with Enron for more than six years. Like many Enron employees, his pension plan was tied to the company's stock. It fell from a value of $108,000 to less than $500.

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