This is typical of deals that one sees all the time in the market. No logic from the point of view of shareholders but a large benefit to somebody else.
I saw the Enron film just after it was released. I recommend it to anyone investing in the stock market. It was good to see them throw the air open on the whole thing and expose the lies and deceit. But I was quite depressed when I left the cinema and I felt very sorry for the shareholders who had been treated so shamefully. In particular a large number of the former Enron staff who were told by management that there was no better place to put their retirement funds than in Enron shares. Many of those people were very loyal to the company and passionate about their work. Their reward was to lose their retirement savings.
LFE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
