A decade after Enron declared bankruptcy, several chief executives are still in prison for fraud — and former employees of the energy firm, once the nation’s seventh-largest company, are still trying to regain the financial security they used to enjoy. George Maddox, a former plant manager with the company, who was retired at the time of the bankruptcy, lost $1.3 million in retirement savings and has had to return to work, mowing pastures in rural East Texas to make ends meet. It’s not an easy job at 78. Maddox says he believes in forgiveness but still harbors anger at the executives who ruined the lives of so many employees. Others who lost their jobs have continued fulfilling careers elsewhere or moved on to start their own entrepreneurial ventures, but still remember how the company’s collapse wiped out thousands of jobs and more than $2 billion in pension plans.
The groups are working to get the Secure Act out of neutral.
The companies say a distributed ledger system could be useful in reinsurance.
The publicly traded China Oceanwide unit says it needed cash partly because of the state of the economy.
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