Enron Mail

Subject:Upset stockholder
Date:Tue, 13 Nov 2001 22:59:53 -0800 (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.
Wayne Heilman
Former Enron Stockholder