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To: Amy J who wrote (172634)	1/28/2003 9:04:12 AM
From: GVTucker	Respond to of 186894

Amy, RE: Why not hire Watkins (an Enron VP who pressed the issues at Enron) at $167k (her Enron salary) or Cooper (of Worldcom), save money and get the job done right? I don't know much about Cooper, but in regard to Watkins, just because she ended up blowing the whistle doesn't mean that she didn't have a hand in the problems of Enron.

To: Amy J who wrote (172634)	1/28/2003 9:04:47 AM
From: Dan3	Respond to of 186894

Re: Why not hire Watkins (an Enron VP who pressed the issues at Enron) at $167k (her Enron salary) or Cooper (of Worldcom), save money and get the job done right? LOL!! Brilliant post!

To: Amy J who wrote (172634)	1/28/2003 10:13:03 AM
From: The Duke of URL©	Read Replies (1) \| Respond to of 186894

You are correct to point out that the salary level for the sec reflects the impotence of that agency being relied upon for action AFTER the damage happens. But you are not correct about Sharon Watkins. Here memo discloses that she did not have a clue as to what was wrong. She was, after all, the Chairperson of one of Enron's biggest "SPEs", (an off-balance sheet entity) for three friggin' years. The issue was disclosure to the shareholders, she thought, the issue was gain on stock, which of course she was dead wrong. The internal revenue code, (362?) is quite clear, no gain (or loss)is recognized by a corporation in dealing with its own stock. This was not a tax issue, it was a disclosure issue. It would have been found years before it could do massive harm if private attorneys and their clients, had not been effectively PREVENTED from filling small civil suits by congressional legislation. By the way, how's that legislation on campaign finance reform doing, say wasn't that passed about six months ago??? :)

To: Amy J who wrote (172634)	1/28/2003 10:30:50 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 186894

Hi Amy, the US Accounting Board is hiring members at $400k a pop Amazing! The President of the USA makes about half that. How about KMart giving the outgoing CEO $3.6M and the incoming CEO $1M is salary to run a bankrupt company! All the while thousands of people are being axed while numerous stores are shuttered. Disgusting is too polite a word for these people and the boards which approve it. Oh, the best part of all is that if this new CEO returns the company to profitability(I believe this could be one cent), then he gets paid a $1M bonus......excuse me, isn't this a part of his job? Otherwise, exactly what is he being brought in for? Brian