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The strike that was
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<blockquote data-quote="Jones" data-source="post: 329796" data-attributes="member: 4805"><p>Here's a list of some the problems with with the way ENRON's fiduciaries administered their retirement plan: <ul> <li data-xf-list-type="ul">They invested all matching contributions in Enron stocks, without giving consideration as to whether it was prudent to do so.</li> <li data-xf-list-type="ul">They failed to monitor the administrative committee's performance of its responsibilities.</li> <li data-xf-list-type="ul">They failed to share critical adverse information about Enron's financial condition with committee members.</li> <li data-xf-list-type="ul">They failed to take steps to remove the committee members for failing to discharge their obligations before Enron's bankruptcy.</li> <li data-xf-list-type="ul">They violated their duties of loyalty and prudence to the plans and participants by misleading participants about Enron's financial health and encouraging them to imprudently invest plan assets in Enron <a href="http://www.investopedia.com/articles/analyst/011802.asp#" target="_blank">stock</a>, even as signs of danger increased.</li> </ul> <ul> <li data-xf-list-type="ul">Even when it was evident that Enron stocks were losing value, they kept the Enron stock fund as an investment option under the savings plan, and they continued to maintain an extensive portion of the plan balance in Enron stocks. <strong>For instance, at the beginning of 2001, over 60% of the plans' total assets consisted of Enron stocks.</strong> Yet, despite warnings from one of its executives, negative commentaries in the media about the price of Enron's stock and continued falling in price of its stock, no move was made to reduce or eliminate Enron's stock as an investment in the plan.</li> </ul><p>Source: <a href="http://www.investopedia.com/articles/analyst/011802.asp" target="_blank"><span style="color: RoyalBlue">Investopedia</span></a></p></blockquote><p></p>
[QUOTE="Jones, post: 329796, member: 4805"] Here's a list of some the problems with with the way ENRON's fiduciaries administered their retirement plan:[LIST] [*]They invested all matching contributions in Enron stocks, without giving consideration as to whether it was prudent to do so. [*]They failed to monitor the administrative committee's performance of its responsibilities. [*]They failed to share critical adverse information about Enron's financial condition with committee members. [*]They failed to take steps to remove the committee members for failing to discharge their obligations before Enron's bankruptcy. [*]They violated their duties of loyalty and prudence to the plans and participants by misleading participants about Enron's financial health and encouraging them to imprudently invest plan assets in Enron [URL="http://www.investopedia.com/articles/analyst/011802.asp#"]stock[/URL], even as signs of danger increased.[/LIST][LIST] [*]Even when it was evident that Enron stocks were losing value, they kept the Enron stock fund as an investment option under the savings plan, and they continued to maintain an extensive portion of the plan balance in Enron stocks. [B]For instance, at the beginning of 2001, over 60% of the plans' total assets consisted of Enron stocks.[/B] Yet, despite warnings from one of its executives, negative commentaries in the media about the price of Enron's stock and continued falling in price of its stock, no move was made to reduce or eliminate Enron's stock as an investment in the plan.[/LIST]Source: [URL="http://www.investopedia.com/articles/analyst/011802.asp"][COLOR=RoyalBlue]Investopedia[/COLOR][/URL] [/QUOTE]
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