Ken Lay

Just wanted to pass along a conversation I had recently with a senior
Treasury Department official about Ken Lay. My former colleague is
extremely savvy and a leading thinker on the financial markets. He pointed
out that with Jack Welch's retirement in late 2001 there will be a very large
void in the corporate community. Welch, for many years, has been considered
in the financial markets and public at large, as the preeminent CEO figure in
corporate America. He is, in essence, the spokesperson and symbol of this
community. With his departure, there will be a process to figure out who
steps in these shoes, and my Treasury friend believes there are only about a
handful of CEOs in the running. He believes Ken is in this group. You've
probably thought about this or you may want to put this email in the "for
what it is worth" pile. I believe that this is worth further thought.