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Enron Mail |
-----Original Message----- From: =09Shields, Jeff =20 Sent:=09Wednesday, November 07, 2001 8:30 AM To:=09'Ken Lay- Chairman of the Board & CEO@ENRON' Subject:=09RE: Daily Update On Behalf of Jeff Shields So when is Ken Lay going to tell us something with substance in these repor= ts. This morning I listened as four different co-workers came in and logged= on and snickered or made other negative remarks in response to today's ema= il on behalf of Ken Lay. One person said she wished we would stop getting t= hese emails because they are "empty." All we are getting are generalities a= nd hollow comments about yesterdays news. Lets hear some positive statement= s from Ken Lay making clear that the financial actions of Enron are clean. = I would appreciate being told exactly what it is that the SEC is looking f= or. Many in the Portland office are asking just who are these Board members= and what is it that drives our Senior Management? We know their names, we = don't understand their values. I want to see leadership. Where is Ken and t= he Board? Mayor Guiliani got out in the public after the World Trade Center= disaster and reassured the public. He became a leader. He didn't sit in hi= s office and have a ghost writer send empty emails to city employees.=20 I watched as Rite Aid went through something similar to what Enron is going= through. Enron would be well served to study the Rite Aid situation and le= arn from their experience. Rite Aid stumbled along for 6 months while the B= oard and CEO defended their actions and were not able to face reality until= the company stock fell from $50 to $3. You need to make dramatic changes i= n the management structure or else management needs to step out and publicl= y restore confidence. It does NO GOOD for the Board and Ken to stand behind= management and business groups only to turn around and put individuals "on= leave" or close those business groups you stood behind a day earlier.=20 I noticed how little confidence the top executives at Enron had in this com= pany when they sold off hundreds of millions of dollars in stock between No= vember and February. Many of us see that as the beginning of the moral bank= ruptcy at the top of Enron. We put our retirement in your hands and you pil= fered it. I had so much faith in Enron's management that I have taken my an= nual bonus in stock options. To me that is a duty to demonstrate my commitm= ent to Enron. Rumors are circulating in the Portland office that the Board = is not likely to fund a bonus pool this year. Now that is inspiration! Is t= hat true?=20 You MUST instill confidence in your employees TODAY. You claim that Enron e= mployees are your most valuable assets. You had better treat them as such. = Email such as this one DO NOT INSPIRE confidence. This is not Enron's proud= est moment. I enjoy working for the company. I take pride in my work and do= my job honestly and open. The deals I bring in to this company are done in= the spirit of mutual benefits with our counter parties. I was disappointed= to get a copy of a PR piece in my home mail yesterday with interviews and = profiles of "Three Men." Reading their values and accomplishments led me t= o believe these guys are motivated not by family and ethics but rather by m= aterial possession. This is the intellect of failure. If your driven simply= to own a boat and your measure of success was recognized when you bought a= big house, there is a very high probability that you will breech the line = of ethical (and perhaps legal) financial actions in order to have more.=20 Please send us a statement from Ken Lay and the Board telling us about the = Cultural Values they are going to strive to instill in the company. I think= a huge statement would be made by having the Board of Directors and Ken La= y personally reinvest the hundreds of millions of dollars that you have tak= en out of this company back in Enron stock TODAY.=20 Ken Lay should come to Portland and give us reassurance that the earnings f= rom this business unit mean something. Ken needs to be a leader. Please, no= more ghost emails. -----Original Message----- From: =09Enron Announcements/Corp/Enron@ENRON On Behalf Of Ken Lay- Chair= man of the Board & CEO@ENRON Sent:=09Tuesday, November 06, 2001 8:23 PM To:=09All Enron Worldwide@ENRON Subject:=09Daily Update Today was a very difficult day for us as market uncertainty continued. Rec= ent news reports, including The Wall Street Journal article today, have spe= culated about possible mergers, takeovers and equity investors as options t= hat Enron is considering. The reason you have not seen us responding to th= ese reports is that it is our corporate policy not to comment on market spe= culation. However, I will tell you that we are evaluating all options to p= rotect the financial stability of this company. I will keep you updated on= developments as they occur.
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