Several months ago a compensation survey was commissioned by Rick Causey to see how Enron's accounting compensation compared to our peers, with our main objective being to retain and attract the best possible talent.   The survey was comprehensive, including Fortune 100 companies and two big-5 accounting firms.  The results of the survey have highlighted that some of our salaries are below today's market. So ... we set out to fix that. 
We spent a significant amount of time looking at individual salaries benchmarked against the survey results of positions with similar responsibilities and experience levels.  Existing internal equity issues were also considered.
Early next week, we will contact everyone to discuss where your current salary falls in our new ranges. If your salary is going to be adjusted, we will communicate your new salary at that meeting. We will also give you your new Enron Wholesale Services - Financial Operations shirt ( yes.. we have changed our name back to Financial Operations). All salary adjustments will be effective September 1st. 
I know that this has been a busy and challenging year for everyone and is likely to remain that way for awhile. We have made tremendous progress toward our major goals this year of cleaning up our accounts, understanding our balance sheet, getting our arms around our cash flow, dealing with tremendous volume growth in trading and building timely and value-added management reporting products. I recognize and appreciate all of your efforts.