FW: Your new CFO spot and the job I want Ken per my voice mail......thanks.

 -----Original Message-----
From: 	Watkins, Sherron  
Sent:	Wednesday, October 24, 2001 4:14 PM
To:	Olson, Cindy
Subject:	FW: Your new CFO spot and the job I want

Cindy, I sent this to Jeff McMahon today.  I wanted you to see it.  You can forward it to Ken if you'd like - I am very interested in speaking with him as soon as that can be arranged.  I very much appreciate your insightful and professional support of me in all of this from day one!  Thanks, Sherron.

 -----Original Message-----
From: 	Watkins, Sherron  
Sent:	Wednesday, October 24, 2001 4:12 PM
To:	McMahon, Jeffrey
Subject:	Your new CFO spot and the job I want

Jeff, Congratulations, you deserve the job and can do it superbly!  You know you will need to replace Ben Gilson as Treasurer - possibly with Bill Brown.  

My issue, and I feel very strongly about this, is that I want to be on the crisis management team to determine how we save our trading franchise.  It can disappear over night and I believe there's more bad news coming re: these raptor deals (ie, restatement).  I have clearly proven myself to be the only person at Enron that had the character, at great risk to my own career, much less personal risk, to go to Ken Lay and let him know what was going on here.  I resent all these late comers joining the band wagon - it's damn easy to make a statement now, when Ken has made the hard decision to unwind these deals and write them off.  Mainly I resent being stuffed into a holding tank, I should not be the pariah here!  Despite your comment to me several weeks ago when I told you that's how I felt and you replied "what did you expect?"  I have been professional in this 100%, I went to Ken and Ken alone, in contrast to yesterday's VP Jim S. who put Ken on the spot by asking unanswerable questions at the all employee meeting. I hope to meet with Ken Lay soon.  But I'd like to talk to you about my role in the 'inner circle', because I firmly believe I deserve it and have proven so by my past evaluations of the negative impact of these structures and then by my actions in doing something about it.  You can help me with your endorsement of me to Greg Whalley, Mark Frevert and Ken Lay.  I hope I have it.  Thanks and good luck in the new job, Sherron

 -----Original Message-----
From: 	Enron Announcements/Corp/Enron@ENRON   On Behalf Of Ken Lay- Chairman of the Board@ENRON
Sent:	Wednesday, October 24, 2001 3:50 PM
To:	All Enron Worldwide@ENRON
Subject:	Jeff McMahon Named CFO


Today we announced the appointment of Jeff McMahon as Enron's chief financial officer.  In my continued discussions with the financial community yesterday and today, it became clear that this move was required to restore investor confidence.  Jeff has unparalleled qualifications and a deep and thorough understanding of Enron.  He is already on the job and hard at work on the issues before us.  Andy Fastow will be on a leave of absence from the company.  

Jeff had been serving as chairman and CEO of Enron Industrial Markets. He joined Enron in 1994 and spent three years in the London office as chief financial officer for Enron's European operations.  Upon returning to the U.S., Jeff was executive vice president of finance and treasurer for Enron Corp.  In 2000, he was named president and chief operating officer of Enron Net Works.

I know all of you are concerned about the continuing decline in our share price.  I am too, and we are working very hard to turn it around.  Appointing Jeff as CFO is one important step in that process.  But most of the solution involves just continuing to do our jobs with excellence.  The fundamentals of our business are strong, and I think the market will begin to see that as we continue to perform.

Please join me in giving Jeff your full support, and thank you for all of your continued hard work.


