Message-ID: <15094717.1075862888597.JavaMail.evans@thyme> Date: Tue, 13 Nov 2001 22:59:53 -0800 (PST) From: wjheilman@worldnet.att.net To: kenneth.lay@enron.com Subject: Upset stockholder Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: "Wayne Heilman" @ENRON X-To: Lay, Kenneth X-cc: X-bcc: X-Folder: \KLAY (Non-Privileged)\Lay, Kenneth\Inbox X-Origin: Lay-K X-FileName: KLAY (Non-Privileged).pst I have found the events of the last two months to be among the most unsett= ling in my 15 years of owning stock in public companies. I have sold my 1= ,800 shares of Enron Corp. because I no longer have faith in the board to = be a good watchdog for the best interests of the shareholders. I just don= 't understand how senior managers can manipulate the financial results of = the company for the past five years and only recently be discovered. I ex= pect the board to act as more than a lap-dog for senior management. I am = encouraged you turned down the chance to accept a $60 million payday for t= his merger that salvages what little shareholder value remains in Enron. = I would expect the board to seek repayment of any and all bonuses paid to = senior managers based on these inaccurate financial results, including the= estimated $30 million paid to the CFO, who allegedly is the architect of = this scheme to defraud stockholders. Had I known the company was apparent= ly built on smoke and mirrors, I would have sold my stock long ago and not= be forced to watch my children's college fund be pocketed by executives = who have little regard for the stockholders they were hired to serve. I g= uess the only lesson I can take from this is that no company, no matter ho= w large or prestigious is safe from dishonest management. I do not includ= e you in this group, but I do believe you and the board bear some blame fo= r allowing this happen for the past five years. =20 Wayne Heilman Former Enron Stockholder