Prosecutors paint picture of corporate 'time bomb' as Enron trial commences

ENRON was a "ticking time bomb" in its final months as top executives lied to the public about the billions of dollars in losses it faced, prosecutors said yesterday at the start of the trial of former chief executives Ken Lay and Jeffrey Skilling.

But Skilling's lawyer, speaking to jurors as the trial began in a case that could last four months, said his client built Enron into a world-class corporation, never broke the law or stole a single nickel and would testify in his own defence.

"I'm committing to you right now that this man will take the witness stand," Skilling's lead defence attorney, Daniel Petrocelli, said during his opening statement in a federal courtroom in Houston just blocks from the gleaming towers where the two men once reigned over Enron.