Enron's Ken Lay: "There's No Other Shoe to Fall"

As the energy giant's stock tumbles after Jeffrey Skilling's sudden resignation, the new CEO tries to reassure investors

Enron Corp.'s Jeffrey K. Skilling dropped a bombshell on Aug. 14, when he abruptly resigned as the company's president and CEO, citing "entirely personal reasons (see BW Online, 8/15/01, "Jeffrey Skilling's Surprising Split from Enron"). Skilling has since allowed that the precipitous 50% drop in the Houston-based energy giant's stock this year had something to do with his decision. Meanwhile, Enron's stock has fallen an additional 14%, to around $36, following Skilling's resignation (for a Q&A with the former CEO, see "We Built a Heck of a Business").

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