Dear Dr. Lay: As a stockholder, I am as upset as you, most Enron employees and other co-shareholders are given Enron's recent performance due to questionable management by scrupulous officers at Enron. As an ex-employee, I have seen many signs of a major collapse, given the fact that Enron's values (such as Respect, Integrity, Communicatons and Excellence) were simply not followed by Enron's officers and senior members of management. There are examples, such as in Panama, Palestine, and the Dominican Republic. One bad deal after the other with questionable economics and accounting to make each deal look good for the personal benefit of one individual in charge. It is about time that you get rid of these individuals and bring Enron back to what you have built over the years to be a successful company. Regards,
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answer: stockholder comments
Mark, Jeff is in London and asked me to make the requested changes to the Contract. I have taken the redline version that he previously provided and added the additional changes. The changes that I made were in 4.2 (15 days), Art. 5 (deleted "but for no longer period"), and in Arbitration (added language for independent arbitrators based on the amount in controversy), and changed (Texas to New York in the 12th line). I have also attached a clean copy which accepted all of the redline changes. If acceptable, please print 2 originals of the clean copy, have them signed, fax me a copy of the signed signature page at 7136463490, and mail the two signed originals to me. Once I receive the faxed signature page, I will let Jennifer know so that she can have any subsequent transactions entered into pursuant to the terms of this contract. Please call me at 7138536895 if you have any questions.
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answer: Master Firm Purchase/Sale Agreement
Mark, I was talking to Jay on Friday and he was telling about Kerr McGee shutting down their operations. Is there any play here for you guys.? BT
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answer: Kerr McGee/ Cinergy Structure
Ken and Jeff: Glen Darden, the President and CEO of Quicksilver Resources, Inc., is a longtime personal and professional friend of mine. Recently, he has asked whether I would consider serving as an outside Director on the Board of Directors of Quicksilver. Before meeting with Glen to discuss this further, I want to make sure that Enron does not have any objections. Headquartered in Fort Worth, Texas, Quicksilver is a natural gas and crude oil production company engaged in the development and acquisition of long-lived producing natural gas and oil properties. Quicksilver began trading publicly in March of 1999 on the American Stock Exchange (KWK). Quicksilver has a long standing business relationship with Enron. Enron has historically entered into pre-pays and hedging transactions related to natural gas production and continues to do so today. Enron (via JEDI) also provided some financing at the time of the merger of Quicksilver and Mercury Exploration and was a significant shareholder of Quicksilver at the time of its initial public offering. I believe JEDI has since divested this stockholding. If I were to serve on the board of Quicksilver, I expect that there will be related party transactions of a routine ongoing nature that would need to be disclosed and which I would need to abstain from voting on as a member of the board. However, I do not feel there would be any material conflicts of interest as Quicksilver's core business is complementary to Enron, not competitive with Enron. As a personal matter, it is an experience that would be beneficial and would provide valuable personal visibility in our industry. I am scheduled to meet with Glen and others at Quicksilver later this month to further discuss this possibility. Would each of you please let me know after due consideration whether you have any objection to or concern with the position. Please do not hesitate to call me (x67713) if you have any questions or wish to discuss this further. Thanks.
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answer:
Quicksilver Resources