Enron's Lay: "Categorically" Not Taking Job In Cabinet 


Updated: Wednesday, December 13, 2000 11:43 AM?ET 

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NEW YORK (Dow Jones)--Enron Corp's (ENE, news, msgs) current chief executive 
and chairman, Kenneth Lay, said Wednesday that he categorically won't be 
taking a job in a new presidential administration. 
Lay, a strong supporter of Texas Gov. George W. Bush, has been rumored to be 
a potential candidate for a cabinet position in the event of a Bush 
administration. Those rumors were further fueled Wednesday when Enron 
announced that Lay would be stepping down as chief executive of the company 
effective Feb. 12, though the company said Lay would remain chairman of the 
board. 







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"I have no plans to go to Washington, and no plans to leave Houston or Enron. 
I can say categorically that I won't be taking a job in a Bush cabinet," Lay 
said in an interview. 
Lay also put to rest rumors that the company has made enormous unexpected 
profits this quarter trading natural gas in the western U.S. 
"We've done well there, but it's been a good quarter for us in all our areas 
across the country. We are happy with the 35-cents estimate for the quarter 
that Wall Street has at the current time," Lay said. 
Some gas traders have said that Enron has been the biggest beneficiary of the 
sharp rise in gas prices in the West the past three months. Spot prices for 
natural gas in California peaked at $67 per million British Thermal Units 
Monday, about 20 times the spot price a year ago. 
Jeffrey K. Skilling, currently Enron's president and chief operating officer, 
will replace Lay as chief executive and retain his current titles. 
-By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com