07/19/02: Army Secretary White makes $60 million, but doesn't know how!

Posted By: convenor


Apparently, Thomas "E for Enron" White, who is currently working a fixed wage job for the government, did a little better in his last job: CEO for a division of Enron, during which time he made about $60 million in various forms of compensation:

http://www.nytimes.com/2002/07/19/business/19ENRO.html

However, he's not quite sure, at least as of yesterday, just how much he made, and certainly has no idea why he was paid all that money. When the Senate Committee asked him about the finer points of Enron's strategies such as Fat Boy of gouging the public, he couldn't imagine why Enron would do those things! After all, if his division was buying back energy from another division of Enron, it wouldn't make any sense -- they'd be losing money!

And those phone calls last year to his friends at Enron? Just calling up to say hello. Couldn't have been more than ten or dozen. There were 77 calls? Uhhhhhhhhh, no idea. Can't remember. So sorry. We talked about the weather.

But he's real, REAL sorry about all this. Truly. He's not giving back any of the money, but gosh, there sure were a lot of people who lost their jobs and retirement funds, not to mention the West Coast ratepayers who got rogered by Enron's double dealing. Just awful, says the Sixty Million Dollar Man.

When a real military man, Sen. Max Cleland who left a few limbs back in Vietnam, confronted White about his personal profiteering at the expense of his staff, reminding him that in combat, officers eat last, White did admit that he was ashamed . . . of what happed to Enron.

Boy, you gotta figure that with this sorry testimony, the SEC or the FERC will crank up and start an investigation of Mr. White some time soon. Doesn't that figure?


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