[Congressional Record Volume 148, Number 76 (Tuesday, June 11, 2002)]
[House]
[Page H3421]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              ENRON EMPLOYEES PROVIDED SEVERANCE BENEFITS

  (Ms. JACKSON-LEE of Texas asked and was given permission to address 
the House for 1 minute and to revise and extend her remarks.)
  Ms. JACKSON-LEE of Texas. Mr. Speaker, just a few months ago in 
Houston, Texas, Enron filed bankruptcy. Hours after the bankruptcy 
filing occurred, 5,000 fellow Houstonians, many of whom were my 
constituents, were fired, terminated, with no relief and no benefits.
  Today, Mr. Speaker, I am very pleased to announce that a tentative 
settlement has been agreed to, yet to be approved by the court, to 
provide the ex-Enron employees with their needed and with their 
deserved and with their old severance pay.
  Let me acknowledge the work of the AFL-CIO and Rainbow/PUSH Coalition 
and Reverend Jesse Jackson, working in a collaborative effort to 
encourage the employees not to be silent.
  We made history today, Mr. Speaker. For the first time in a 
bankruptcy court proceeding, unsecured creditors were able to receive 
funding before any proceedings were to go forth. These employees, who 
basically have no standing in a bankruptcy proceeding, now with the 
creditors' committee, now with the lawyers, now with Enron as it 
presently stands, have agreed to provide this severance pay.
  I think this is a historic day. But it gives the Congress the 
opportunity to change the Bankruptcy Code, and the bankruptcy laws as 
well, to ensure that employees who are victimized and not at fault will 
have the opportunity to receive their benefits.
  I look forward to this Congress acting immediately. I would like to 
thank the minority leader, the gentleman from Missouri (Mr. Gephardt), 
and, of course, the leader of the other body for their help.

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