My Thoughts 
I am not sure, that in any of the calls that we have had during the crisis surrounding Enron, that I have been able to fully express the depth of my gratitude to each of you.  I am as grateful as one can be.  Like many of you, I loved this place and feel an immense sense of loss at what is occurring.  My heart also aches for the financial losses that so many have suffered, not only in our group, but also throughout the company, particularly given how much all of us have given to this place, some for many years.  I have been searching for a way to capture what we've done here and was reading a book the other day about Teddy Roosevelt, former President of the United States, and saw a quote that I thought was appropriate to our group and circumstancesï¿½the quote is, 

"the credit belongs to the person who is actually in the arenaï¿½who strives valiantly, who knows the great enthusiasms, the great devotions and spends himself in worthy causes.  Who, at best, knows the triumph of high achievement and who, at worst, if he fails, fails while daring greatly so that his place shall never be with those cold and timid souls, who knew neither victory nor defeat."

The work that we did here was great.  The way we did it, I believe, sets an example for those who will attempt to fill our shoesï¿½and we fought for the right cause, i.e., competitive markets around the world.  Our victories were many and often directly due to our presence and leadershipï¿½the failure that we are experiencing as a company, however, that is so deep and so thorough, was not of our making.  I don't know exactly what the days and weeks ahead hold for any of us, but I am quite confident that the good work that we do and the way that we do it, and the sense of community that we were able to create in this group, will show up in new places and new companies all around the world over the next months and years.  I hope to speak to many, if not all of you, on a one to one basis over the next several weeks to express my thanks and gratitude for having had the opportunity to work with you, but I also want to take this opportunity to wish each of you the best in the future and during this holiday season.

Thank you



