Press Releases

NEWARK, DE - U.S. Senator Tom Carper will lead a discussion on the impact of the Enron investigation this afternoon as the keynote speaker at the University of Delaware's day long seminar, Post Enron Implications and Challenges - Where Do We Go From Here? Carper is a member of the Government Affairs, Energy and Banking Committees, all three committees investigating the Enron collapse. The Senate Banking Committee is set to vote on accounting reform legislation tomorrow. "Keeping the confidence of the world's investors is key," Carper said. "From the family investing for their kids' college fund to the largest corporation handling employees pensions, we must have their faith and confidence. As trillions of dollars move through the investment community, our markets must remain an attractive place to invest those funds." Enron was the seventh biggest company in the country, with a stock market value of $60 billion before it filed for Chapter 11 bankruptcy. Enron employees who were prohibited from diversifying their portfolios saw their pensions disappear as the value of the company's stock dropped from $98 a share to less than one dollar a share. Millions of dollars in retirement funds no longer exist. WHO: U.S. Senator Tom Carper, who sits on three committees investigating aspects of the Enron collapse, will talk about the impact of the Enron investigation both locally and in Washington. WHAT: Seminar on accounting, auditing and corporate governance after Enron: Post Enron Implications and Challenges - Where Do We Go From Here? WHEN: Monday, June 17th 12:30 p.m. WHERE: University of Delaware, Clayton Hall, Newark Call 302-831-1259 for additional information on the location or log onto www.audit.udel.edu