Mr. Lay,

I understand that we may not be having the holiday party.  I think this would be a huge mistake!  We have worked hard all year and recently haven't had much to celebrate.  I know alot of women (myself included) who have already bought their dresses.  I think this could be our Enron Swan Song and go out with a bang!

I think what you did about your bonus was the most unselfish thing a man in your position could do.  I have been honored to work for a man of your caliber.  I hope my next CEO can live up to your very high standards!

Regards,

Michelle
Michelle Hargrave
Global Resource Mgmt.
(713)853-6023
e-mail: michelle.hargrave@enron.com