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To: Logain Ablar who wrote (2514)	10/23/2001 2:03:10 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 2850

I have a standard policy of selling a stock if the CFO resigns out of the blue. Sounds like a similar thought process on your part.

To: Logain Ablar who wrote (2514)	10/23/2001 2:47:48 PM
From: John Pitera	Read Replies (1) \| Respond to of 2850

Hi Tim, you could be right, It's possible that they may have some derivatives type losses somewhere, it's very true that the margins have been going down on much of their business This post outlines the negatives. Message 15779874 One observation is that you want to sell a stock when the CFO or President leaves and the stock has a rich valuation and it has not sold off yet. ENE was selling for 90 this year, and you did want to sell it when the CFO left and when the President left. There have been negative articles on ENE in the WSJ every day for a week it seems? a rhetorical question is have we seen the the major impact on stock price from the very prominent page one bad news. Also holders of ENE who take a week to hear news of this short should have had a chance to sell by now. there has been a fair bit of talk in Houston as to why the President left, but there is some sentiment that it was for personal reasons, also I don't think that he would have been able to qualify for the full value of that severance package, I'll look into that. Cramer is very negative on ENE, says he would not touch it. but I'm not sure if he's followed the company that closely and his closing comment (for those who are students of the Cramer psychology indicator) of it may never get nice, seems like he's a bit too bearish. In the meantime, I wouldn't touch this stock with a 10-foot pole. This one's gonna get real nasty before it gets nice. If it ever does. which he can be at inflection points. I do hear you on your comment of just avoiding situations like this It's intriguing, I was planning on buying more on a move to the teens, maybe I'll have to think much hard on that. ------------------------------------ James J. Cramer Enron's Excuses Sound Familiar By James J. Cramer 10/23/2001 01:43 PM EDT URL: thestreet.com Click here for the latest from James J. Cramer. If you disclose something that is wrong, and you get accountants to check off that wrong deed, and outside lawyers to check off on that wrong deed, is it therefore right? That's what Enron (ENE:NYSE - news - commentary) is asking us to believe. By telling us that its ridiculous dealings with the chief financial officer and his private partnership were all sanctioned by outside professionals, they have simply compounded the error. Next they will tell us that Janus, the largest shareholder, knew and wanted those partnerships to generate upside surprises! What they are doing at Enron is, well, positively -- here we go -- '80s! In the '80s, you had all of these savings-and-loan jokers pleading that the outside accountants and lawyers checked off on massive chicanery. Somehow it was supposed to make the chicanery kosher. Nope. What it ended up doing was getting the lawyers and accountants in trouble. The government ended up going after them, too, for abetting the travesties. Enron didn't use taxpayers' money, so it is arguably not as clear-cut. But the more we probe this Enron, the more we check it out, the more we know it really stinks and that Jeffrey Skilling didn't leave because the stock got hammered, or some other authentic Wall Street gibberish, but because of this nasty, unseemly situation. We don't want an SEC probe here. We want a Justice Department probe. This isn't about unclear disclosure. This could end up being about fraud. In the meantime, I wouldn't touch this stock with a 10-foot pole. This one's gonna get real nasty before it gets nice. If it ever does.