Wednesday, July 10, 2002
South Oakland Resident Disgruntled with his Enron Stock
James Twilley, 24, of South Bouquet Street has been dealing with some difficult times recently as his Enron stock has plummeted to new lows over the past year and a half.
“It’s hard for me,” said Twilley. “That stock was my retirement nest egg. I had over four shares in the stock. Now it’s worth practically nothing, I don't know what I'm going to do.”
Twilley invested in the stock back in January of 2001 when the price was at an all time high of $80 per share. “It’s just hard to deal with,” explained Twilley. “You read about it in the papers, but once you experience it first-hand, it’s like nothing else you can imagine. Because of [Enron's] mismanagement, I lost over $320. That’s almost a week's worth of pay at CVS. It’s always the little guy who gets hurt. I bet my financial future on that stock. I was buying cases of Yuengling Lager non-returnable [bottles] and eating at Sorrento’s Pizza almost every night. Now I'm stuck buying that god-damn PBR and eating at ‘the O’.”
Former Enron CEO Kenneth Lay addressed Twilley’s loss at a press conference last Thursday.
“Mr. Twilley is emblematic of the American entrepreneur. He’s the low wage, hard-working individual who uses his intelligence in an attempt to better his life. I would go so far as to call him the symbolic backbone of our economic system. I feel very bad for Twilley and his loss. It’s stories like his which tug at the very fiber of this controversy. While his loss is a travesty, people need to realize that the stock market is a gamble. I would encourage Twilley to diversify his portfolio in subsequent investments and not be discouraged by this loss.”
“It’ll be a long time before I’m back on my feet,” Twilley concluded.