CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Mutual Funds Taxes Ask the Expert Money 101 Autos Loan Center Best Places to Live Ask the Expert Millionaires in the Making Ultimate Guide to Retirement Retirement Calculators Best Funds Ask the Mole Best Places to Retire Personal Tech Big Tech Blog Techland Blog Sectors and Stocks Fortune 500 Techs Tech Talk 100 Best Places to Launch Ultimate Resource Guide Small Biz Makeovers FSB 100 Ask & Answer Fortune 500 Technology Investing Management Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts
Ex-Enron workers rejoice after verdicts
Former employees say the jury did the right thing in convicting Ken Lay and Jeff Skilling.
By Christian Zappone, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) - Reactions from former Enron employees to Thursday's verdict in the Enron criminal trial were swift and unambiguous.

"Fantastic! Fantastic!" said Deborah Perrotta, who worked as an administrative assistant in Enron India's Houston-based office.

Photo GallerylaunchSee more photos
Find out who you might have seen at the Enron trial, how they got involved, and what they're doing now.
Launch gallery
Photo GallerylaunchSee more photos
Koslowski and Waksal are in. Martha and Madden are out. Ebbers and Fastow are waiting. See who's where, and who's headed for hard time.
Launch gallery

"It's a victory to show that corporate America can't get away with misleading the public and employees for their own personal gain," said Perrotta, who lost her job after the company filed for bankruptcy.

Enron founder Kenneth Lay was found guilty on six counts of conspiracy and fraud and former CEO Jeff Skilling was found guilty on 19 counts by a Houston jury in the biggest of the corporate fraud cases.

"Thank God," said Debra Johnson, another former Enron worker, "because the jury saw fit to punish them for what they did."

"The sentence may not be to everyone's liking," said Johnson, who worked as a coordinator in the Enron International office until the company's 2001 bankruptcy. "But the verdict is about being fair to everyday working people."

"Skilling and Lay thought the money, the power was everything," said Johnson. "This will let executives at other corporations know that it can happen to them. This is a milestone. And it's well deserved. We waited long enough. I'm smiling as I talk to you. I wish I'd been able to be there."

In a separate bench trial, Judge Sim Lake ruled Lay was guilty of four counts of fraud and false statements. Both Lay and Skilling could face 20 to 30 years in prison, legal experts say. (Full story).

"We're never going to get our money back," said Perrotta, who now works as a representative for the Texas Federation of Teachers in Dallas. "We're not going to reap from this. It's just the satisfaction. It helps me close the book on the Enron debacle.

"It closes the door. Now I can start a new chapter in my life," she said.

"I'm thrilled about it but disappointed I have to wait till September for sentencing," said former administrative assistant Rita Hennessy. "If it was me or you they'd have taken us off immediately."

Hennessy, who worked under former Enron chief risk officer Rick Buy and lost all of her retirement savings when the company collapsed, said, "Unless they serve time for what they've done, the verdict doesn't matter. You can tell a child they're guilty but it won't mean anything unless you give them punishment. What lesson is learned if you don't?"

Hennessy now works for a pipeline company in Houston.

"Justice has been served," said Roger Boyce, who worked in human resources at Enron's pipeline business. "I'm satisfied with the verdict but I'm happy for all of us employees and retirees that a just verdict has been reached."

Boyce, who retired the year before the company collapsed and was a plaintiff in an employee-stock option civil trial against the company, said he was a little surprised by how quickly the verdict came back. "But they seemed to do a conscientious job. Obviously they examined the evidence carefully, coming back with 19 convictions against Skilling."

He added: "The verdict gives a very strong message that corruption in corporations has got to stop. It sets up a strong precedent that companies can't get by with corporate greed."

The reaction from a Lay supporter was just as straightforward, but less jubilant.

"Lay has been the YMCA's friend and supporter," said Trazanna Moreno, a spokeswoman for the YMCA of Greater Houston, an organization to which Lay had contributed.

"Having said that, we understand, believe in and support our legal system and the juries that have to make the decisions they do," Moreno said.

--------------------------------------

Lay, Skilling found guilty. Full story.

Ex-Enron employees: Give 'em 'hard time.' Top of page

YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?
© 2008 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.