The recent Enron scam left nearly 5,000 employees jobless. Worse, people lost millions of dollars when the stock plummeted from $90 to 63 cents per share.
But those affected aren't taking it lying down. They are going online!
Former employees have set up the enronX.org site that enables all victims of the corporate tragedy to share information and help. Besides Enron's ex-employees, the site welcomes staff of those companies 'impacted by Enron's domino effect'.
Those in charge of this online rally say, "Whether you are in need of a new job position, legal counsel, health insurance or simply want to voice your thoughts with other fellow former co-workers in your same situation, please use this site as a resource to recover."
Jose Lazo, a 21-year-old, who had worked at Enron for two years, has spearheaded this campaign. "I have spoken with numerous co-workers and I feel their pain, especially on the loss or their insurance coverage, benefits and loss of compensation. I'm trying to bring a little happiness," he says.
Lazo realised the need for community building: "My friends and I are desperately seeking new job opportunities and feel that it is our personal obligation to right the wrongs of a handful of individuals who have destroyed our careers."
The official Enron site shows a trim cyclist, an image of energy in action. EnronX.org has spoofed this on its homepage: it shows a potbellied sportsman, standing akimbo. Lazo explains that the image symbolises Enron as "a huge company standing still".
The site's banner reads 'discover the power of WHY NOT' in straightforward defiance of Enron's slogan 'Discover the power of Why'.
EnronX.org's highest priority is helping former workers find jobs. Something even Lazo is struggling with. It invites companies to post notices of vacancies on the site: "We are looking for hiring companies, recruiters, financial planning advisors and other supporting business professionals." A lot of job listings can already be found on this section.
Moreover, with the help of a Houston-based networking organisation called Techxans, the site planned a pink slip party last month that drew companies having vacancies. Techxans Chairperson Lisa Hoot called upon recruiters, HRD personnel and companies that are looking to hire, to "be a part of this effort in helping to find jobs for these unfortunate individuals".
The site also links to law firms that have filed class-action suits against Enron. One firm, Hagens Berman, believes that "Enron employees are victims of breaches of fiduciary duty by those who were running the Enron retirement plans."
Another firm claims that Enron's officers and directors reaped huge profits through a scheme that artificially inflated the price of its stock. "The Company's executives are accused of dumping $1.1 billion of their own Enron stock at the same time they were falsifying Enron's financial condition. The investigation has expanded to include issues surrounding Enron's benefit programs, such as whether its officials breached their fiduciary duties in the administration of the company's 401(k) plan." Those affected are invited to be members of the class action.
EnronX.org also posts news on the latest Enron-related happenings. Besides, a message board promotes interaction and support among former employees and well-wishers. The usernames they choose reflect their tragedy: fullofbile, looking4work77089, goodbyeenron and BitterLemon28. Yet they appear to be a close-knit community, each helping in their own little way. "My wife is giving free hair cuts to all X-Enron employees. She will be doing this for the next 4 weeks," says Tom Madaras.
Polls on the site give a snapshot of the situation: 12 per cent claim to have lost over $5 million in personal wealth. Only 12 per cent claim to have found a better paying job, while 71 per cent say they are still unemployed. A vast 65 per cent feel Enron has absolutely no chance of coming out of bankruptcy and, interestingly, 30 per cent say they would switch from Republicans to Democrats in the upcoming elections.
The site is also considering setting up 'The EnronX Fund' that will "mobilise financial resources to respond to the immediate and longer term needs of the ex-Enron employees affected by the recent events". Lazo expects the fund to receive donations from concerned companies and individuals.
"We want to be the enabler that assists ex-Enron employees to get back on their feet," he said. "Since we are the trusted source and maintain an active database reaching almost 6,000 members, we are confident that we have the power and understand the sentiment to help individuals in need."
Ex-employees claim to have received calls supporting their efforts from most major US cities and even places like Moscow!
Now only if they can get some jobs.

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