Insider Selling by Enron Execs Speaks Louder Than Their Words

At Enron (ENE Quote), actions are speaking differently than words.

At the same time as Enron Chairman Ken Lay and Enron President and CEO Jeff Skilling were touting their company's stock as undervalued, both were in the process of selling hundreds of thousands of shares.

In an exclusive interview with TheStreet.com last November, Lay suggested that Enron stock -- then trading in the mid-$70s at nearly 50 times earnings -- was undervalued. "Comfortable that it's worth that [50 times earnings], yes," he said. "As a matter of fact, some of us here and, of course, many analysts would maintain that even that is undervaluing the company." ...