I tried to send this as a reply to both you and the Chairman of the Board b=
ut it came back. Your admin said to just mail it directly to you. I think y=
ou will be pleased (something you might need to feel right now?) at what I =
have to say...
From: =09Faircloth, Linda =20
Sent:=09Thursday, November 01, 2001 1:20 PM
To:=09'Ken Lay- Chairman of the Board@ENRON'
Subject:=09RE: Daily Update
This is an amazing letter and I am so happy that Mr. White stands behind us=
I was born and raised in Houston and worked in Houston through the good tim=
es and the bad. I agree wholeheartedly with his article and trust that our =
company is working hard to make things right. Whether I am laid off or allo=
wed to stay this year, I will always stand behind this company! I worked 1=
0 years at HL&P as an electrical field engineer from 1977 to 1987--through =
gas lines and recessions and all kinds of internal problems. I know what it=
's like to feel belittled because the media makes such a ruckus about compa=
ny policies that we had to paint over the HL&P bullet logo on our company c=
ars and say that we worked for Houston Industries, not Houston Lighting and=
Power. Shoot, I even had to face a double-barrel shotgun because I had on =
a company uniform with HL&P on it! Well, we made it through it and now HL&=
P is Reliant Energy, so restoration is always possible. I worked side-by-si=
de with those committed Enron employees (most I had never met) helping to c=
lean mud-laden homes from the tropical storm this year, and I was so proud =
to say to my friends that Enron allowed it's employees to be a part of the =
community clean-up. My daughter is a senior who volunteered her time during=
Earth Day festivities here and met other young, innovative people who beca=
me her new friends. I want her to keep this positive attitude about our com=
pany. I've worked for DuPont, Xerox and Baroid, MCI and Worldcom, and Lyond=
ell and other corporate giants in the past 10 years. Not one ever offered t=
he kind of monetary help (not to mention excellent benefits and raises) tha=
t Enron always provides.=20
I just want to say, Ken, keep up the good work! I'm proud to be an Enron e=
mployee, and yes, even an EBS employee!!
EBS - Global Network Management
From: =09Enron Announcements/Corp/Enron@ENRON On Behalf Of Ken Lay- Chair=
man of the Board@ENRON
Sent:=09Thursday, November 01, 2001 11:15 AM
To:=09All Enron Worldwide@ENRON
Today we announced another positive development in our efforts to regain sh=
areholder and market confidence, strengthen our balance sheet and help main=
tain our credit rating.
We have executed a commitment letter with two of our longstanding banking p=
artners, JPMorgan (the investment banking arm of JPMorgan Chase & Co.) and =
Salomon Smith Barney (the investment banking arm of Citigroup Inc.), that w=
ill provide us with additional secured credit lines worth $1 billion. Our =
Northern Natural Gas Company and Transwestern Pipeline Company will support=
these assets. The proceeds will be used to supplement short-term liquidit=
y and to refinance maturing obligations.
The pipelines are not being sold. Enron is only using these assets for thi=
s new credit line. Secured financing like this provides an expeditious way=
to increase liquidity and restore confidence. We also have the capacity t=
o increase this facility by an additional $200 million if we bring in addit=
ional banks to participate.
This money is in addition to the $3 billion in our credit lines we accessed=
last week to pay off short-term commercial debt and keep more than $1 bill=
ion in cash.
I know it is discouraging to read the negative media coverage about our com=
pany. On a positive note, there was an editorial in last Sunday's Houston =
Chronicle that I want you to read: <http://www.chron.com/cs/CDA/story.hts/=
editorial/outlook/1107504<. This is an extremely difficult time for everyo=
ne and I appreciate everything you do for Enron.
Don't forget to read our voice mail and e-mail transcripts covering these d=
evelopments on the Enron Updates intranet site at (<http://home.enron.com/u=