graphic
graphic  
graphic
News  
graphic
Lay to open secondhand shop
Wife of Enron's former CEO plans to open an antique store that will sell some family items.
April 30, 2002: 1:07 PM EDT

NEW YORK (CNN/Money) - The Kenneth Lay family is downsizing.

Linda Lay, the wife of Enron Corp.'s former chief executive, is opening an antique and secondhand shop called Jus' Stuff and will sell items including the family's personal property and furniture from its rental property, Lay family spokeswoman Kelly Kimberly said.

graphic
graphic graphic
graphic
"She determined that some of these furnishings were just stuff and could be sold. Families and friends agreed," Kimberly said.

Lay and her daughter Robin also will sell items belonging to family and acquaintances, along with some new merchandise and design services.

A lamp fashioned from antique street lights, a mahogany bed, an antique reproduction desk, artwork and a bright yellow pair of metal fighting cocks are among the wares to be up for sale when the store opens in early May.

An Enron executive warned Kenneth Lay of the company's serious financial problems in August, long before the energy trader filed the largest bankruptcy in United States history on Dec. 2. Lay resigned in January.

Enron, once one of the largest companies in the United States, allegedly used thousands of off-the-book partnerships to hide nearly $1 billion in debt and inflate profits.

Lay has denied knowledge of the deals and declined to testify at a Senate hearing in February, invoking his Fifth Amendment right against self-incrimination. Subsequent hearings were canceled after he said he would not testify.

Since Houston-based Enron descended into bankruptcy, the Lays have been selling off assets. They have jettisoned second homes in Aspen, Colo., and Galveston, Texas, as well as commercial properties.

The store will be opened in a building owned by Lay's real estate company, Kimberly said. She said Lay earlier considered using the space as storage for friends moving to smaller homes, but then decided to open a business.

"She's worked all her life," Kimberly said of Linda Lay, who once worked for her husband at Enron.  Top of page


-- from staff and Wire reports






  graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.