Like Tree0Likes

Top Enron Exec. commits suicide

Reply
Old 01-25-2002, 01:02 PM
  #1
Platinum Member
Platinum Member
Thread Starter
 
Join Date: Nov 2000
Location: Greenwich CT USA
My Boats: fast boats
Posts: 193
Post Top Enron Exec. commits suicide

Evidently, this guy was a big player in the "offshore" accounts of Enron...CHeck out the Story on Yahoo
waterspeed is offline  
Reply With Quote
Old 01-25-2002, 01:07 PM
  #2
Registered
 
Tantrum's Avatar
 
Join Date: Oct 2000
Location: USR, NJ
My Boats: Stray Cat Statement Marine
Posts: 4,000
Post

I geuss he figured he do it himself before someone else got to him.
Can you imagine the investigation if it was a little sketchy, "Now Mrs So & So, did your husband have any enemies, anyone who may wish him harm for being such a stand up guy?"
Tantrum is offline  
Reply With Quote
Old 01-25-2002, 02:16 PM
  #3
Registered
 
seanclong's Avatar
 
Join Date: May 2001
Location: Chesapeake Bay
Posts: 798
Talking

Yep. Every President is allowed one 'suicide'. Heh, Heh The names might change but the game stays the same...

Sean
seanclong is offline  
Reply With Quote
Old 01-25-2002, 02:33 PM
  #4
Registered
 
Shane's Avatar
 
Join Date: Oct 2000
Location: Niskayuna, NY
My Boats: 2009 FORMULA 292
Posts: 5,543
Post

Friday January 25, 1:24 pm Eastern Time
Ex-Enron Exec An Apparent Suicide
Ex-Enron Executive Found Shot to Death, Apparent Suicide; Had Challenged Company Practices
By KRISTEN HAYS
Associated Press Writer
HOUSTON (AP) -- A former Enron Corp. (NYSE:ENE - news) executive who reportedly challenged the company's questionable financial practices and resigned last May was found shot to death in a car Friday, an apparent suicide.


Police in the suburb, Sugar Land, confirmed the death of 43-year-old J. Clifford Baxter, a former Enron vice chairman. He was shot in the head.

A suicide note was found, police said, but its contents were not disclosed.

``We are deeply saddened by the tragic loss of our friend and colleague, Cliff Baxter. Our thoughts and prayers go out to his family and friends,'' the company said in a statement. Spokesman Mark Palmer had no additional comment.

Baxter was vice chairman of Enron when he resigned in May 2001, several months before the energy company's collapse.

Baxter was identified by name in the explosive warning that Enron executive Sherron Watkins wrote last August to company chairman Ken Lay.

``Cliff Baxter complained mightily to (then-CEO Jeff) Skilling and all who would listen about the inappropriateness of our transactions with LJM,'' one of the partnerships that kept hundreds of millions of dollars in debt off Enron's books.

Watkins identified Baxter in a section of her letter stating there is ``a veil of secrecy around LJM and Raptor,'' another entity involved in the partnerships.

Watkins' letter to Lay stated that ``we will implode in a wave of accounting scandals'' unless the company changed its ways.

Enron's public downfall began in mid-October with the announcement of a $618 million third-quarter loss and a $1.2 billion reduction in the company's equity. Then the partnerships that kept debt off the books were revealed.

The company -- once No. 7 on the Fortune magazine list of the 500 largest companies -- rapidly descended into bankruptcy, the largest in history, on Dec. 2. Its chairman, Kenneth Lay, resigned this week. He has been one of President Bush's strongest supporters over the years.

Baxter's body was found around 2:30 a.m. Friday by a police officer checking on a car parked in a residential area in Sugar Land. He was in the driver's seat. Identification he was carrying indicated he worked for Enron.

Jim Richard, a Fort Bend County justice of the peace, ruled Baxter's death a suicide.

Baxter's family could not be reached for comment. His home telephone number is unlisted.

Baxter was one of 29 former and current Enron executives and board members named as defendants in a federal lawsuit. Plaintiffs' lawyers said the executives made $1.1 billion by selling Enron stock between October 1998 and November 2001.

It said Baxter had sold 577,436 shares for $35.2 million.

At the time his resignation was announced, Skilling said Baxter had made ``a tremendous contribution to Enron's evolution, particularly as a member of the team that built Enron's wholesale business.''

It said his primary reason for resigning was to spend more time with his family.

Skilling himself abruptly resigned in August, citing personal reasons.

Baxter had joined Enron in 1991 and was chairman and CEO of Enron North America prior to being named chief strategy officer for Enron Corp. in June 2000 and vice chairman in October 2000, the company said.

He was born in 1958 in Amityville, N.Y., and graduated from New York University in 1980. He was a captain in the U.S. Air Force from 1980-85 and received an MBA from Columbia University in 1987, according to the company.
Shane is offline  
Reply With Quote
Old 01-25-2002, 02:45 PM
  #5
Registered
 
seanclong's Avatar
 
Join Date: May 2001
Location: Chesapeake Bay
Posts: 798
Talking

All kidding aside, it really is a shame. You really have to feel for someone who's situation has gotten so bad that death seems to be the only way out....

Sean
seanclong is offline  
Reply With Quote
Old 01-25-2002, 02:57 PM
  #6
Enjoy the show
VIP Member
 
Ron P's Avatar
 
Join Date: Feb 2001
Location: The Joisey Shore
Posts: 10,353
Post

Or was it meant to look like a suicide?
Ron P is offline  
Reply With Quote
Old 01-25-2002, 02:58 PM
  #7
Enjoy the show
VIP Member
 
Ron P's Avatar
 
Join Date: Feb 2001
Location: The Joisey Shore
Posts: 10,353
Post

I wonder how many of these execs got rich by shorting the stock on the way down.
Ron P is offline  
Reply With Quote
Old 01-25-2002, 02:59 PM
  #8
Registered
 
seanclong's Avatar
 
Join Date: May 2001
Location: Chesapeake Bay
Posts: 798
Talking

Boy-o-boy, Ron that's too pesimistic for me on such nice Friday afternoon. That's more like Monday morning talk. LOL

Sean
seanclong is offline  
Reply With Quote
Old 01-25-2002, 06:55 PM
  #9
Registered
 
kaamacat's Avatar
 
Join Date: Dec 2000
Location: Cumming,GA,USA
My Boats: 1986 Wellcraft KAAMA Excalibur Cat 30
Posts: 482
Thumbs down

I hope they had 100 of the poor folks that lost all their retirement money (and who will probably suffer greatly for it)holding a long string that blew the hole in his head. (one way tug of war)
kaamacat is offline  
Reply With Quote
Old 01-10-2004, 05:25 PM
  #10
Charter Member #232
Charter Member
 
Audiofn's Avatar
 
Join Date: Oct 2000
Location: Carlisle, MA USA
My Boats: 1979 Formula 302, 99 Formula 353, 81 Donzi 18 2+3 with 454
Posts: 18,379
Default

I do not even feel remotely bad for the guy. I feel for the people that got RAPED by these azzholes. For all the lives that these execs ruined they should all be in jail for life.

Jon
__________________
Put your best foot forward!
Audiofn is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
TRL505
Fountain
8
06-20-2007 07:53 PM
betitbig
General Q & A
1
03-19-2006 02:21 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 08:24 PM.


Copyright 2011 OffShoreOnly. All rights reserved.