Ken Lay is dead

[spdirty]

http://drudgereport.com/

[Spider]

http://drudgereport.com/
any other source reporting this ?

[Spider]

I guess it is true ........ http://www.msnbc.msn.com/
meh .Anything else going on ?

[spdirty]

any other source reporting this ?

Saw it on Fox News, so you could turn the channel...Does it mean that he is actually alive and well, since Fox and Drudge are reporting this?

[cbs1177]

any other source reporting this ?
cnn pipline just emailed me

[spdirty]

Oh here we go, got another source for you...http://newsmax.com/money/archives/articles/2006/7/5/101303.cfm?s=br

[Spider]

I went to MSNBC , good enough , I know SPdirty that you are not telling me Drudge is reliable , we both know better .........

[footstepsfrom#27]

Wonder if he knew something he shouldn't have...?

Let the conspiracy theories begin...8')

[spdirty]

Wonder if he knew something he shouldn't have...?

Let the conspiracy theories begin...8')

His wife poisoned him.

[BroncoInferno]

Bastard got off easy. The fact that he still had a vacation home to croak in while many of his rank-and-file employees were left penniless and unemployeed is the real tragedy.

[cbs1177]

Bastard got off easy. The fact that he still had a vacation home to croak in while many of his rank-and-file employees were left penniles and unemployeed is the real tragedy.

I laughed really hard on the movie dick and jane when it said thanks to ken lay in the credits. It is sad for us middle and lower classes that some hot shot could do such a thing. But at least our names are not written in history as a scandal and someone who steals from those less well off then thee.

[bendog]

It's only a shame that the heart attack was not brought on by use of a cattle prod.

[Spider]

I laughed really hard on the movie dick and jane when it said thanks to ken lay in the credits. It is sad for us middle and lower classes that some hot shot could do such a thing. But at least our names are not written in history as a scandal and someone who steals from those less well off then thee.
i saw the original Fun with Dick and Jane enjoyed the hell out of it , I realy dont like remakes , was this one good ? i do like Jim Carey ........

[cbs1177]

i saw the original Fun with Dick and Jane enjoyed the hell out of it , I realy dont like remakes , was this one good ? i do like Jim Carey ........

I saw it on a date and it was really really funny. Also a side note the date i took to the movies she didn't call me back until three weeks later and her excuse was I was busy working and all. Wow give me three weeks and I have a better excuse then that. Spider it is a renter but enjoyable. I laughed really hard a couple of times.

[cbs1177]

It's only a shame that the heart attack was not brought on by use of a cattle prod.

it was brought on by the thought of prison sex

[Spider]

I saw it on a date and it was really really funny. Also a side note the date i took to the movies she didn't call me back until three weeks later and her excuse was I was busy working and all. Wow give me three weeks and I have a better excuse then that. Spider it is a renter but enjoyable. I laughed really hard a couple of times.
right on thanks for the review .......sorry about the date ......

[Rohirrim]

http://www.undergroundozarks.com/gallery/albums/acidtunnel/acid01.jpg
Come on in, Kenny Boy!

[cbs1177]

right on thanks for the review .......sorry about the date ......

The date before that said her neighbors had to do laudary at her house so she had to wrap up the date in two hours. Needless to say i drove an hour to see her and pay for a luncheon on a Saturday which I only have about maybe two saturdays off a year. Her excuse was I found myself falling in love with you too fast. OKAY. But even after a bad date and saying a movie is funny should be some kudoos. A renter not a movie going experience.

[Spider]

The date before that said her neighbors had to do laudary at her house so she had to wrap up the date in two hours. Needless to say i drove an hour to see her and pay for a luncheon on a Saturday which I only have about maybe two saturdays off a year. Her excuse was I found myself falling in love with you too fast. OKAY. But even after a bad date and saying a movie is funny should be some kudoos. A renter not a movie going experience.
;D I was dating a gal from Morision back in the day , she was talking marriage , So I said take a trip with me , we didnt have the fancy road machines we do now .... we got outside of Oklahoma City and decided marriage wasnt for us ;D
so i gave her 300.00 dollars for bus fair , food , to get home on .........
PS> i didnt kick her out of the truck ..... but i didnt object to her taking a bus either ;D

[cbs1177]

;D I was dating a gal from Morision back in the day , she was talking marriage , So I said take a trip with me , we didnt have the fancy road machines we do now .... we got outside of Oklahoma City and decided marriage wasnt for us ;D
so i gave her 300.00 dollars for bus fair , food , to get home on .........
PS> i didnt kick her out of the truck ..... but i didnt object to her taking a bus either ;D

I even did eharmony but that hooked me up with a girl who dated some one in my bowling league who was the exact opposite of me. He never complete a bowling season with the same girlfriend. Plus she was divorced for three months before she was sending ads and that doesn't include the time she dated the guy from bowling. So I am still single as we speak but still no drama is better then that garabage.

[alkemical]

how can a man with no heart, die of a heart attack?

[Spider]

I even did eharmony but that hooked me up with a girl who dated some one in my bowling league who was the exact opposite of me. He never complete a bowling season with the same girlfriend. Plus she was divorced for three months before she was sending ads and that doesn't include the time she dated the guy from bowling. So I am still single as we speak but still no drama is better then that garabage.
I maybe old Fashion , havent dted in years , but how I used to met women , was a grocery store ......find a islewith women in it , act completely clueless to cooking , but show off if you know how to pick good Water melons , Cantelope etc......;D

[W*GS]

Cheney had him "silenced"...

[NOLA Bronco]

It wasn't a heart attack. It was a house, and the munchkins sang.

[Atlas]

Good.

Due crooks like him go to hell?

[Crushaholic]

Cheney had him "silenced"...

So they went on a hunting trip?:thumbs:

[W*GS]

Due crooks like him go to hell?

They certainly do - but they stand on the shoulders of politicians.

[L.A. BRONCOS FAN]

Ken Lay is dead

Darn!

I was hoping he was gonna get a chance to meet Tyrone. :pity:

[TheDave]

how can a man with no heart, die of a heart attack?

Excellent Question ^5

[Spider]

i wonder if god needed someone to run the energy dept in heaven ?

[cbs1177]

i wonder if god needed someone to run the energy dept in heaven ?

No the devil took him b/c he needed someone to help shovel all the shredded documents in the hot furnance.

[L.A. BRONCOS FAN]

No the devil took him b/c he needed someone to help shovel all the shredded documents in the hot furnance.

:laugh:

[Traveler]

Not to speak ill of the dead, but rumor was he found out Bush wasn't going to pardon him and he couldn't handle it.:holyguac! Sorry!:-X

[Spider]

the son of a Bítch got away with it ..................His Family did also .........
http://www.nytimes.com/2006/07/06/business/06legal.html?ex=1309838400&en=9d2f51a49236b5f7&ei=5088&partner=rssnyt&emc=rss
HOUSTON, July 5 — In yet another bizarre twist to the Enron saga, the sudden death of Kenneth L. Lay on Wednesday may have spared his survivors financial ruin. Mr. Lay's death effectively voids the guilty verdict against him, temporarily thwarting the federal government's efforts to seize his remaining real estate and financial assets, legal experts say.

[alkemical]

I love America!

[Billy Clyde Puckett]

What most overlook in the "Enron Scandal" is what it has taken out of everyone's pocket. The reaction to Enron and Worldcom by Congress was to pass the Sarbanes Oxely legislation. We can debate the pros and cons of that legislation, but one thing that is not in question is the cost of complience. In the two years since this law has been in place, the average cost for all public companies has been about $8 million each. This cost is passed directly on to the consumers. Since the law only applies to US companies, foreign companies gain another cost advantage. When you think about the opportunity costs, the impact is staggering. Had that money been invested in productive assets, it would have provided a much needed boost to our economy.

The impact to the stock market has been even more incredible. Research suggests the cost to shareholders has been $1.4 TRILLION. That cost has been born by anyone who owns stock in a public companies directly or through Mutual Funds or corporate retirement funds. In light of the looming "retirement crisis", this loss will be hard to overcome. Again, this impact is confined to US companies, giving foreign companies another advantage.

[NOLA Bronco]

What most overlook in the "Enron Scandal" is what it has taken out of everyone's pocket. The reaction to Enron and Worldcom by Congress was to pass the Sarbanes Oxely legislation. We can debate the pros and cons of that legislation, but one thing that is not in question is the cost of complience. In the two years since this law has been in place, the average cost for all public companies has been about $8 million each. This cost is passed directly on to the consumers. Since the law only applies to US companies, foreign companies gain another cost advantage. When you think about the opportunity costs, the impact is staggering. Had that money been invested in productive assets, it would have provided a much needed boost to our economy.

The impact to the stock market has been even more incredible. Research suggests the cost to shareholders has been $1.4 TRILLION. That cost has been born by anyone who owns stock in a public companies directly or through Mutual Funds or corporate retirement funds. In light of the looming "retirement crisis", this loss will be hard to overcome. Again, this impact is confined to US companies, giving foreign companies another advantage.

Yeah, implementing the SOA has cost a lot of money, but at the same time, maybe the accounting firms should have been doing some of the compliance work they do now, all along.

[L.A. BRONCOS FAN]

Yeah, implementing the SOA has cost a lot of money, but at the same time, maybe the accounting firms should have been doing some of the compliance work they do now, all along.

Yep.

Consider the cost just another part of Kenny Boy's (and his best friend Dubya's) legacy to America.

[L.A. BRONCOS FAN]

http://www.bartcop.com/kennyboy_Hell.jpg

[Cito Pelon]

What most overlook in the "Enron Scandal" is what it has taken out of everyone's pocket. The reaction to Enron and Worldcom by Congress was to pass the Sarbanes Oxely legislation. We can debate the pros and cons of that legislation, but one thing that is not in question is the cost of complience. In the two years since this law has been in place, the average cost for all public companies has been about $8 million each. This cost is passed directly on to the consumers. Since the law only applies to US companies, foreign companies gain another cost advantage. When you think about the opportunity costs, the impact is staggering. Had that money been invested in productive assets, it would have provided a much needed boost to our economy.

The impact to the stock market has been even more incredible. Research suggests the cost to shareholders has been $1.4 TRILLION. That cost has been born by anyone who owns stock in a public companies directly or through Mutual Funds or corporate retirement funds. In light of the looming "retirement crisis", this loss will be hard to overcome. Again, this impact is confined to US companies, giving foreign companies another advantage.

$8 mil each to siimply provide accountability among top executives? Come on. $8 mil each funneled into top executive golden parachutes.

[Bronco_Beerslug]

$8 mil each to siimply provide accountability among top executives? Come on. $8 mil each funneled into top executive golden parachutes.

How Much Does Sarbanes-Oxley Cost?
in Economy | Finance | Investing | Markets | Politics

There's a meme circulating now amongst the sloping forehead crowd that Sarbanes-Oxley costs exceed $1.4 trillion dollars. The way that was calculated was the drop in stock market market capitilization during July 2002 when the legislation was passed.

Somehow, SOX gets the entire responsibility for that July 2002 sell off; Even more amusing, SOX gets none of the credit for any subsequent rise in market capitilization since then -- it simply gets ignored; Further, this researcher thinks that the only factor impacting market action was Congressional legislation -- and not all legislation, just SOX. (Recall we previously addressed that analytical foible in Single vs. Multiple Variable Analysis in Market Forecasts).

That's quite a neat analytical trick (putting aside false assumptions, and a more or less total ignorance of what actually drives markets).

I have no stake, and less of an opinion, in Sarbanes Oxeley. But I have zero tolerance for intellectual dishonesty. So let's take one more review this bit of misdirection:
>

How Much Did Sarbanes-Oxely Impact Markets?

Market Action Leading up to the Legislation's Debate and Passage (1/99-12/02)

http://bigpicture.typepad.com/photos/uncategorized/nasdaq_chart_sox.gif

Source: BigCharts

Market's Performance Since Sarbanes Oxley (7/02-6/05)

http://bigpicture.typepad.com/photos/uncategorized/post_sox_nasdaq_chart.gif

The charts prove how ridiculous the assertion is that SOX cost the market's a over a trillion in cap:

a) intelligent and experienced investors know that no single factor can take credit for what the markets do;
b) The prior trend pre-SOX was a long and relentless slide down;
c) Nasdaq was in the process of bottoming around the same time;
d) the Nasdaq has doubled since Sarbanes Oxley passed!

Let me again reiterate my long standing belief that no single variable accurately predicts market behavior as discussed here: Single vs. Multiple Variable Analysis in Market Forecasts.

Further, as I discussed extensively in Lose the News, headlines do not drive markets, as the news reporting tends to be rearward looking and already discounted by markets.

Additionally, I point you to Gary B. Smith's analysis of major events, which supports the argument that even extremely significant news events -- The Pearl Harbor attack, the Assassination of JFK, and the September 11th Terrorist Attacks -- do little than temporarily roil the markets for a relatively short period of time. After the immediate impact of these events, markets subsequently resume their prior, pre-event course.

Lastly, have a look at the WSJ's "Numbers Guy". Carl Bialik took a look at SOX. Not surprisingly, he found the analytical rigor of this study wanting:

The $1.4 trillion in market losses [Rochester accounting graduate student Ivy Xiying Zhang] identifies came almost entirely during three periods, all in July 2002: the Senate's debate of the bill from July 8-12, during which time President Bush delivered a speech backing corporate reforms; a period from July 18-23 when the House and Senate wrangled over competing versions of the bill; and a period from July 24-26 when the Senate and House reached agreement. The market tanked in that second period, reflecting about three-quarters of Ms. Zhang's estimated losses.

If are all really, really lucky, than perhaps Ms. Zhang will be on the other side of our trades in the future. Let's hope she knows more about accounting than she does about how the markets work.

http://tinyurl.com/zxjb9

[Cito Pelon]

En-Lay is ed-day. Sorry, couldn't resist. Been trying to hold it back, but I'm feeling mean today.