July 9, 2004-Former Enron CEO Kenneth Lay is indicted and enters a not guilty plea. In the years since Enron's collapse, the Justice Department has been working overtime in its pursuit of holding the key figures accountable. Many former executives, after initially vowing to fight in court, ended up pleading guilty, most notably former CFO Andrew Fastow, Fastow's key lieutenants Michael Kopper and Ben Glisan, former Enron North America trader Timothy Belden (for his role in aggravating the 2000 California energy crisis and raking in money over the citizens' pain), and former Enron Broadband head Kenneth Rice (for pushing an image of a business focused on trading bandwidth capacity and rolling out streaming video in a glitch-free and affordable manner that wasn't even close to coming true), With the exception of Glisan, all the above will testify against other defendants in trials, in addition to all of them disgorging ill-gotten financial gains and serving prison sentences no longer than ten years. Lay and former COO (and short-lived replacement CEO) Jeffrey Skilling, who was indicted and entered his own not guilty plea back in February, still intend to seek vindication in trial, and push the blame for the crisis squarely on the shoulders of Fastow and the financial press for "triggering a run on the bank."
July 11, 2004-Disney CEO Michael Eisner announces two key developments. Firstly, former key Miramax executive Meryl Poster is now being named the chair of Walt Disney Studios. "Meryl has proven herself quite formidable and talented in her own regard, and she was the only person who could buck trends at Miramax and not suffer for it. Her instincts are very much welcomed, and we expect her to lead the studio for many, many years to come." Interim studio chair Dick Cook, who was named to the post after the resignation of Peter Schneider, will be her right-hand man. The other announcement is confirmation of what had long been rumored. Eisner announces that he will leave The Walt Disney Company in 2008, at which time Bob Iger will succeed him as CEO. "Bob has shown that he has what it takes to get the job done, and he's definitely been proven to be effective in a crisis situation. In my remaining years here at Disney, I will naturally be giving Bob more and more power, little by little, while working to get my creativity on overdrive. I know that the next few years will be important for The Walt Disney Company, and I'm going to ensure it's done right."