ONE FOR YOU, NINETEEN FOR ME
Enron ... announced late Monday that it had settled lawsuits brought by employees and the U.S. Labor Department accusing it of mismanaging worker retirement money. The company agreed to set aside $356.25 million in its bankruptcy case to pay retirement plan claims.
...Lynn L. Sarko, one of the lead attorneys representing Enron employees in the class-action lawsuit, estimates workers eventually will see about 27 cents on the dollar with the settlement -- after Enron finishes paying other creditors.
--The Oregonian yesterday
Enron Directors Vote for Pay Raise
The five-member Enron Corp. board of directors has voted for pay raises that boost salaries by as much as $1 million.
In a filing with the New York bankruptcy court that oversaw the company's reorganization last year, the board said it voted to increase its compensation retroactively to the beginning of June.
It raises the annual salary of Chairman John Ray III, a Wheaton, Ill., bankruptcy specialist, from $200,000 to $1.2 million.
Three other board members had their pay double to $300,000, while vice chairman Robert Deutschman, a Santa Monica, Calif., investment banker, now gets $420,000 annually, up from $150,000.
The board, none of them Enron employees, was chosen by creditors last year as part of the bankruptcy reorganization plan....