Mike said in the budget meeting that it bleeds every day and we cannot get off of it - I did not understand what that meant.

 -----Original Message-----
From: 	Shankman, Jeffrey A.  
Sent:	Tuesday, November 20, 2001 1:17 PM
To:	Fallon, Jim
Subject:	RE: 

what do you mean?

 -----Original Message-----
From: 	Fallon, Jim  
Sent:	Tuesday, November 20, 2001 1:15 PM
To:	Shankman, Jeffrey A.
Subject:	RE: 

What is going with the crude position?

 -----Original Message-----
From: 	Shankman, Jeffrey A.  
Sent:	Tuesday, November 20, 2001 1:01 PM
To:	Joyce, Mary; Fallon, Jim
Cc:	Oxley, David; Whalley, Greg
Subject:	

As you guys go through working up a severance program, I started thinking about some equity issues.  If the average tenure of an employee at Enron is about 3 years, why not come up with 2 plans--1 for long serving employees who have been long dedicated to the company, and a second one for the more recently hired?  It doesnt' make sense to me that someone who has been here under a year at $100,000 base should be entitled to 11 weeks even before they sign the waiver.  I would also not change the program in whatever form you ultimately settle on for the longer serving employees, rather just scale back the program for the newer employees.

Regards,

Jeff