Tag: Enron

Give Pedro Zapeta His Money Back

Pedro Zapeta Have you heard of this one? It’s all over the ‘sphere. The long and short of it is a dishwasher Guatemalan immigrant named Pedro Zapeta who worked for 11 years and managed to scrape together $59k in savings. He tried to walk into an airport to cart his cash haul home. The Feds seized the money because it was undeclared and now this guy is back to washing dishes… that is, until the Feds come back to toss him out of the country.

It’s too easy to be cynical and look to law and order as a reason for putting this bloke in so much pain. He isn’t a criminal – he doesn’t even have a parking ticket. He didn’t shirk the law any more than the next working stiff and he’s certainly no Enron corporate hack working at the behest of Kenneth Lay. No… Pedro came here with the best intentions of doing a job that few Americans will do – he cleans our dinner plates for a buck.

I did the math. If Pedro trimmed his living expenses to 50% of income, worked a steady 8 to 10 hours per day, 6 days a week (accounting for about 25 days off per year besides Sundays and perhaps some down days when he couldn’t find work, he could have easily accumulated $59k in savings after 11 years.Two things come to mind. One: I earn almost ten times what this guy earned per year and can barely scrape together enough to meet the IRS minimum for my IRA exemption. Two: most people I know earn at least 10 times what this poor guy earned and are struggling to pay their mortgage and Beemer lease payments. I’m certain that there are folks out there who think that there’s a deeper more sinister story here. But I assure you, there isn’t. Perhaps we’re all fed by the same lopsided American consumerist attitude; what doesn’t make instant sense makes us so cautious that we become overly judgmental and cruel.We should be able to figure out how to give this guy a break. Yeah, okay; force him to pay income tax; at his bracket that might be around 20% of gross. Maybe fine him a little for trying to walk through the airport with all that cash. But he should at least walk away with about $30k – definitely not empty handed.

This story assails our sense of fairness in so many ways. On one side are folks to believe that the letter of the law must be observed; in their mind, fairness comes from equal application of punishment. But this view ignores the ‘global effect’ of our current economic activities. It is no secret that we are the primary beneficiaries of a thick web of offshore supply and demand – in terms of products and services, but also in blood, sweat and tears labor. Our actions clearly affect the emotions and attitudes that are directed toward us; as a country and as a society; individually and severally. Therefore, it is in our best interest to at least show some kindness from time to time. Are WE THE PEOPLE blind-minded bureaucrats, hard-nosed executors for the rule of law? Or are we a grateful citizenry, obedient to another, much higher order of law that requires us to acknowledge the sacrifices of those who come to this country to do the work that none of us want to do, e.g, wash our dirty dishes for a buck.

By the way, if you disagree with the ruling of US District Judge James I. Cohn (the guy who exacted justice on Mr Zapeta), let the Hon. Judge Cohn know what you think. Hold him accountable for his cruelty. Call 1-954-769-5490, then press 6 and either talk to his staffer or leave a message.Or you could write him: this is his address: 299 East Broward Boulevard, 203F, Ft. Lauderdale, FL 33301

Convict Skilling

I love this photo. It’s a nice portrait of Jeffry Skilling – yet another self-important elitist, before his post-career retirement at Sing-Sing. What I would pay for an “after” shot 20 years from now. Vaya con Dios, dickhead – you’re FIRED.

Update from Wikipedia:

Jeffrey Keith “Jeff” Skilling is the former president of Enron Corporation, headquartered in Houston, Texas. In 2006 he was convicted of multiple federal felony charges relating to Enron’s financial collapse, and is currently serving a 24-year, four-month prison sentence at the Federal Correctional Institution in Englewood, Colorado.[1][2] The Supreme Court of the United States heard arguments in the appeal of the case March 1, 2010.[3][4] On June 24, 2010, the Supreme Court vacated part of Skilling’s conviction and sent the case back to the lower court for further proceedings. In April, 2011 a three judge 5th Circuit Court panel ruled that the verdict would have been the same despite the legal issues under discussion, and Skilling’s conviction was upheld.[5] Skilling appealed this new decision to the Supreme Court,[6] but was denied certiorari.[7]

Chairman of the Boredroom

What of those high-rolling CEOs who are fond of saying, “You journalists have no idea what it’s like to run aKen Lay Fortune 500 company.”  Those hefty salaries are to compensate them for managing all the risks they take, they say. No big bucks, no big dividends.

Kenneth Lay must have thought that… once.

But, Ken buddy, you can rationalize greed any way you want, but what you did at Enron is still a crime. If you claim ignorance or if you knew every detail, what you did was a crime. So suck up, pal. You’re going to the slammer. And if you write a book, may it be about your grief over the misery and anguish you allowed to happen.

Update:

Kenneth Lee “Ken” Lay, an American businessman, best known for his role in the widely reported corruption scandal that led to the downfall of Enron Corporation. Lay and Enron became synonymous with corporate abuse and accounting fraud when the scandal broke in 2001. Lay was the CEO and chairman of Enron from 1985 until his resignation on January 23, 2002, except for a few months in 2000 when he was chairman and Jeffrey Skilling was chief executive officer (CEO). He took a regional natural gas pipeline business and turned it into a energy conglomerate with a market capitalization of $70 billion, betting the future on unregulated energy markets.[1]

On July 7, 2004, Lay was indicted by a grand jury on 11 counts of securities fraud and related charges.[2] On January 31, 2006, following four and a half years of preparation by government prosecutors, Lay’s and Skilling’s trial began in Houston. Lay was found guilty on May 25, 2006, of 10 counts against him; the judge dismissed the 11th. Because each count carried a maximum 5- to 10-year sentence, legal experts said Lay could have faced 20 to 30 years in prison.[3] However, he died while vacationing in Snowmass, Colorado, on July 5, 2006, about three and a half months before his scheduled October 23 sentencing.[4] Preliminary autopsy reports state that he died of a heart attack caused by coronary artery disease. As a result of his death, on October 17, 2006, the federal district court judge who presided over the case vacated Lay’s conviction.[5][6] There have been conspiracy theories surrounding his death.[7]