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 HOUSTON (AP) - Nine months before Enron Corp. flamed out in bankruptcy, some investors were questioning the strength of its businesses despite public assurances from company founder Kenneth Lay and former CEO Jeffrey Skilling that all was well, jurors in their fraud and conspiracy trial learned Wednesday.
Those questions and a stock price that dropped to less than $60 per share from its high of $90 in August 2000 prompted Skilling to hold a conference call in March 2001 to reassure Wall Street that Enron was healthy.
"I have no idea why the stock is down," Skilling told analysts who influenced the stock price. "I know this is a bad stock market, but Enron's in good shape."
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