He had said during the trial that his net worth was now negative. INSKEEP: What was left of Ken Lay's fortune at the end of his life? And that was when people began to feel that the odds of a conviction were inching ever higher. That is, until he got on the stand, and a different side of Ken Lay emerged during his testimony. Ken Lay was widely regarded as a very gracious man, and he certainly - even through the stress of the trial - acted that way. He had a major impact in Houston - one of the things that was cited at the trial and that was well-known about Lay was the extent of the money that he and his wife Linda gave away to various philanthropic causes, when he had the money to give away.
This was a guy who, at his height, really got in the community and was a very positive presence, or tried to seem like one.
INSKEEP: You know, during the trial I paid a visit to Houston and was talking with a room full of people and asked how many people had met Ken Lay, and it seemed like most of people in the room raised their hands. But it was exactly that optimism bordering on cheerleading that, in the end, brought him down because the jury convicted him on charges that he lied to employees and lied to investors about Enron's financial condition in its final months. I think Lay's lawyer thought to cast his optimism as the great strength of a businessman, a necessary quality to be a businessman. MCCLEAN: That's a great way to look at it. INSKEEP: I feel like in that clip we just heard - the great strength, as well as the great weakness of Ken Lay - always putting a positive spin on events, even the worst ones. BETHANY MCCLEAN (Reporter, Fortune Magazine Author): Thanks for having me. She is a reporter for Fortune magazine and co-author of The Smartest Guys in the Room: the Amazing Rise and Scandalous Fall of Enron. INSKEEP: One person who followed Ken Lay's career is Bethany McClean. But despite what happened today, I am still a very blessed man. KENNETH LAY (Founder and Former Chairman, Enron): I firmly believe I'm innocent of the charges against me. After the guilty verdict, Ken Lay spoke to reporters. Lay had just been convicted on May - along with former Enron CEO Jeffrey Skilling - of defrauding investors and employees by lying about Enron's financial state in the months before the company collapsed in 2001.
He reportedly suffered a massive heart attack. A family spokesman said Lay died early this morning in Aspen, Colorado, where he frequently vacationed. INSKEEP: Kenneth Lay, the founder and former chairman of Enron has died. The business news starts with the death of a one-time business giant.
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