I want to see Enron survive, and for that to happen we need someone at the helm, who can focus his hundred per cent efforts on reorganising the company and preserving value for our creditors and hard-working employees, Mr Lay (59) said in a statement released by Enron on Wednesday night.
Mr Lay founded the company in 1986 and led it grow onto one of the largest in America and then saw it collapse.
He will face Congressional hearings on the unconventional, possibly illegal, methods betrayal of its investors and employees as it tried to hide its losses and debts through unknown subsidiaries and partnerships, the friendships and political influence he built through huge political donations to republicans, including the US President George W Bush, and democrats Enron followed.
DPC contract is a sanctity issue: Envoy
NEW DELHI: Is Enron finally bad news enough for the Bush presidency Bad enough for his administration to stop seeing the companys failed contract in India as a five letter word in the Indo-US relationship
US ambassador Robert D Blackwill side-steps the first part, but his answer sets at rest any misplaced hope that the Enron ghost in India will miraculously disappear once the parent company drowns in troubles of its own creation.
The inquiries will cover not only Enrons methods, but also the failure of Arthur Andersen, one of the big five auditing and accounting firms in the United States, to reflect the true state of the company in the public records signed by the auditors.