postbot/aeslc_kw huggingface dataset:
Subject: Oldco RAC

I would see the primary responsibilities:   1.
Develop with Fallon a written process for the valuation of terminated contracts.
We will most likely only have Bjorn for a short period of time given his reluctance to go to NETCO.
While no one appears to care about the fact that we have no way to render a correct value for financial statement purposes, this would be a priority if I was managing the estate.
There is no metric for the approval of comprises internally.
Our curves say one value, the counterparties quotes say another.
Differences in value may be a better metric that notional settlement amounts.
2.
With IT, assure that the terminated contracts are frozen in value.
The book is currently floating, rendering an open position which is unmeasured as to VaR.
Examine ways, if any, to manage this uncovered market risk.
3.
Valuation of assets held for sale and DASH process.
It would appear that we should work backwards from the summary of sale that the Unsecured Creditors Committee wants.
There have already been complaints about multiple forms (DASH, transaction review committee for).
This would require revamping the DASH process and TAP.
4.
Revaluation of International assets.
5.
To the extent EES performs post petition, value this book and the associated  ongoing costs associated with it.
6.
My understanding is that the billing on performing accounts is behind.
Manage and develop a process to collect these past due amounts.
Collectibility does not improve with time.
7.
Ongoing review of business unit's cash requests.
8.
Develop a systematized IT solution to payments and transfers made 90 days prior to bankruptcy (in process).
9.
Manage the bankrupt counterparty portfolio.
10.
Collect amounts owed by PG&E and So Cal Edison ($545 million notional).
11.
Maintain a pipeline report.
Subject: Carol North

Dear Rick,  I quickly wanted to send you my new contact information as well as ask you about my Cash Balance Plan.
My fifth anniversary with Enron is coming up this Sunday, December 9.
The Cash Balance Plan vests after five years and I want to make sure that HR's comments to me regarding the plan are right.
HR (Sheila Walton) told me last week that I need not to worry about vesting in the plan since we will officially still be Enron employees as long as we are getting paid severance.
With the latest information we got this seems to be questionable now.
HR and Benefits do not seem to know what is going on now; all my questions remained unanswered when I called them this morning.
Benefits stated that as long as my termination date was after the 9th of December I would vest.
HR doesn't seem to know when my official termination date is.
If needed, I have more than 10 days of unused vacation; I could be deemed on vacation and terminated after the 9th.
I would like to ask you to help me with this matter and try to set my termination date after December 9, i.e.
at the earliest next Monday.
I feel that the company has left us with absolutely nothing but an extreme lack of information and loads of unanswered questions.
I do not see myself in a position where I want to give my Cash Balance Plan up.
Subject: Enron Board of Directors Meeting to be rescheduled

We are in the process of rescheduling the Enron Corp. Board of Directors meeting (originally scheduled for December 10-11, 2001).
We will confirm new dates as soon as possible.
Please call me if you have any questions at 3-6485.
Thank you.
Subject: tentative 8 am meeting with Bill Glass, Chief Credit Officer

I work for Jeff Donahue in corporate development.
I spoke to Bill Glass, Chief Credit officer of UBSW and hed like to meet tentatively at 8 am tomorrow morning in 49c2/c3 at 8 am.
Hopefully, you are available to address their questions.
I understand that you have been speaking directly to Bill heretofore.
Regards
Subject: 11/30 and 12/3 DPR - update

With all of the events of yesterday, information for the DPR for the above dates is not yet complete.
At the present time, we are planning to issue a final DPR for the 30th of November as well as a preliminary and then final for the 3rd of December.
However, we do not yet have an estimated time for these to be issued.
I will keep you up to date when I have additional information.
If you have any questions, please call me at 713 853 9123.
Best regards
Subject: Letter to Mariner Board Members

Please see attached letter from Scott Josey.
Thank you.
Donna M. Cagle Executive Administrator to President & CEO Mariner Energy, Inc. 580 WestLake Park Blvd., Suite 1300 Houston, TX  77079 281/584-5511 (phone)     281/584-5515 (fax) dcagle@mariner-energy.com   <<Board Letter 12-4-01.doc>>
Subject: US Interests in Europe

Rick, As follow-up to our discussion of today, we would like to explain our concerns.
EEL entities are under control of an administrator - Price Waterhouse - who represents the interest of the creditors of those entities.
All decisions regarding those entities are being made by the administrator.
Michael Brown, Fernley Dyson, John Sherriff are not in the building and to the best of my knowledge have resigned all directorships.
Most of the remaining employees (300) are working for the administrator.
There are, however, interests of Enron Corp which are housed in Enron House may not be getting the attention they deserve or , potentially more concerning, are being used or eyed by the locals for their benefit.
Examples are : 1) the contractual assets in ECTRIC which include financial trades, weather derivatives, nordic energy, some crude and products trading.
2) large in the money pumped storage trade which is in a US-based LLC - in the money by a net $50MM 3) Enron Direct is being offered for sale (JV with EES) 4) The TXU VPS contracts (currently under termination dispute) is being negotiated solely by administrators and their employees  Transactions are being terminated by counterparties, deals are being cut between the administrators and commercial for the dispostion of assets, and value is being eroded because no support staff will work without a reasonable expectation of being paid.
Finally, the administrators have been here for several weeks and seem woefully prepared to take on the task at hand.
We suggest that the Houston-based 'investor' (whether that is current managment or a trustee) ought to reconstitute some form of governance over its activities in Europe so that it can be assured of receiving maximum value for its assets here.
Currently, we have little capability to cause the local staff to provide us with the information and access to make informed decisions.
Please give us a call so we can discuss a course of action, if any, you would like us to take.
Ted
Subject: Contact List

Mr. Buy,  Please find attached the list of UBS Warburg Credit Risk Control  contacts as described by Bill Glass during today's phone conversation.
We are looking forward to working with you and your staff.
Kind regards,
Subject: Emergency Contact Procedures

Per Rick Buy's request, we are developing procedures so that the head of each RAC department will have a current list of emergency contact numbers for all RAC employees.
I have outlined the plan below:  The Assistant in each group will be responsible for updating home telephone numbers, cellular phone numbers and home addresses for each member of their group.
Rita Hennessy will consolidate the list for all of RAC on a monthly basis.
The monthly update will be emailed to the personal email address of each department head or their designee.
This update should be stored on a personal computer until the next monthly update is received.
Two hard-copies of the monthly update will be maintained in a file at the home of Rick Carson and at the home of Sharon Sullo.
If this plan is acceptable to you, please let me know the personal email address to use.
Please call me with comments or questions.
Thanks,
Subject: Risk Officers Roundtable

Rick - this is the event that Cal Payne spoke to you about several weeks ago.
He indicated to me that you would be interested in attending.
I am David Johnson - a partner with Andersen and we are sponsoring the Risk Officers Roundtable.
This is not a training seminar or an event with an audience.
This group has been meeting for a couple of years and recently asked Andersen to take the lead in facilitating the group.
The objective of this group is to focus on issues that each of you are facing as risk officers or leading energy trading organizations.
The ideas and issues dicussed will remain confidential.
This is a forum for people facing similar issues to bounce ideas off of each other and to discuss topics of mutual interest.
From an anti-trust perspective, competitive approaches as an industry or similar initiatives will not be discussed.
The group will meet about 4 times a year  Our plans for the next meeting are as follows:  Location  - Las Vegas (Bellagio currently has rooms for $129/night)  Date - Monday November 12 and Tuesday November 13  Agenda - We will get with each attendee and formulate an agenda.
This will be circulated prior to the meeting.
Attendees -  Confirmed - Eddie Meche, Reliant, Philip Chesson - Williams, Glen Labhart - Dynegy, Cal Payne - UtiliCorp Invitations extended to Rick Buy - Enron, Rich Osborne - Duke, Mark Randle - Sempra and Bob Andersen - ElPaso.
Subject: RAC Credit Offsite - Del Lago Resort - November 9

Many of you have not signed up for an afternoon activity for the RAC Credit Offsite @ Del Lago Resort on Friday, November 9.
The sign-up sheets are on the countertop at my desk.
Please choose your activity by this Friday so that arrangements can be made at the resort.
Activities available are:  golf scramble, massage, pontoon fishing, boat ride, volleyball, tennis, racquetball, horseshoes, shopping at the outlet mall, pool tables or lounge by the pool/bar.
Karen
Subject: Memo to RAC

I want to thank everyone for their hard work during these trying times.
Lots of our efforts in the past building systems, procedures and infrastructure pay off in times like these.
Feedback from both Citibank and JPM/Chase and Enron's Board members has been very positive relative to RAC.
Congratulations to all.
On another note I want to caution everyone in the group from making negative statements in the presence of ours and other groups, especially more junior members of these groups.
Because they come from RAC they are not considered idle commentary and can be, and have been, damaging to morale to these people.
We all speculate about the state of affairs and it is a good stress relief but we can not be a part of morale reducing behavior.
Things are not back to normal but they are improving.
Upon receipt of commitment from banks, hopefully later today or early tomorrow, our short term issues should be resolved.
Lots of activities are underway to address medium term and long term solutions.
In the mean time, keep smiling.
Rick
Subject: Meeting with Duke Energy

Louise has asked me if you are available to meet with Duke Energy on Friday November 2nd at 3pm.
Please let me know your availability.
Thanks  Sue  TIM: can you make sure that Jeff gets this message.
Thanks.
Subject: RAC's Roles

Rick,  Dave asked me to send you the attached file to use as a starting point for the "RAC's Roles" project that you mentioned in the meeting.
This presentation was prepared a few weeks ago.
Thanks,
Subject: Enron Board Meeting

Pls.
plan to join the Enron Corp. Board of Directors meeting scheduled for Friday, November 2, at 3:30 p.m., CST.
For planning purposes, your placement on the agenda is as follows: Jeff McMahon		#1 Rick Buy			#2 Mark Haedicke+Others 	#7  It makes sense for Jeff and Rick to be there at 3:30.
We will call Mark at his office a few minutes before his session and the rest of his team will join via teleconference at that time.
Please call me or Kelly Johnson (36485) if you have any questions.
Thanks.
Subject: EIM steel transactions pipeline update

Attached is the updated status of the steel trades/transactions that have potential LOC/cashflow impact in the next few months.
According to Kent, who had a direct conversation with Bowen late yesterday, all new steel trades/structured transactions not yet agreed to will require Bowen approval prior to being reviewed by RAC.
In summary, the commitment status for the Kibar and EDZK trades is yet to be determined, upon reviewing the taped conversation between the traders and the counterparties.
Duferco payments for the final 100,000 ton slab purchase and the $40,000 option are up for restructuring next week with the company.
Please let me know if you have any questions/concerns.
Thanks.
Subject: Board Mtg.

The Board meeting is confirmed for tomorrow, Sunday, Nov. 4, at 3 p.m. CST in the Board Room.
Most of our Board will be here in Houston.
If you are not available and would like to call in, please contact me (either at the office or via cell phone at 713 962 2109).
Ken may chose to hold an executive session at the beginning and the end of the meeting, but at this time I expect the business discussion to be an open session if you chose to attend.
'Will keep you advised if that changes.
Thanks, Paula
Subject: Credit Story

Rick/Bill/David, Generally, we have managed to keep our main counterparts transacting, but things are tight.
We are signing netting agreements and agreeing to collateral threshholds, but we are negotiating hard where we think that we will be so close to collateral lines in the next few months that we would actually have to post.
As we go into this week, we need to hold on to those we have, incrementally open up a few more, and start to get people to business as usual.
Amongst the things that continues to be missing are the OFFICIAL STORY (we have access to the newspaper here, too), good communication regarding global relationships, and calendar and status of new developments regarding credit facilities, equity issuance/raising.....  Not that some of it is getting through, it just comes through random channels and we know very little more than our counterparts that have a subscription to the Wall Street Journal.
To that end, it has been suggested here that Houston (PR?)
with RAC/Finance develop a daily script of talking points for the masses.
We have traders and credit people talking all day to counterparts - they really could use a strong story to tell without have to think about it.
I am very confident that I can tell a reasonable story myself, but I am concerned that I do not have all the facts at my disposal and my guess is that the average trader/credit specialist is probably at a greater disadvantage.
Thoughts?
Ted
Subject: EOGIL DASH

Conferring with Gorte, we need a new DASH for the India sale due to  1) the time since signing (5 months) 2) downward change in purchase price 3) general change in circumstances of Enron   In addition to updating the numbers (as we discussed this morning), we should include an ownership structure diagram and a legal risk memo concerning what bankruptcy  related approvals are required (if any).
Whether or not Board approval is required is possibly an open issue.
We will research.
Subject: 2001 Management Conference

During this critical time, it is imperative that our management team remain focused on our business and continue to address the challenges currently facing our company.
For that reason, I have decided to postpone the Enron Management Conference.
The Conference will now be held Friday, February 22 - Saturday, February 23, 2002 at the Westin La Cantera Resort in San Antonio.
While the Saturday meeting allows some Enron executives who cannot be away from the office during business hours to attend the Management Conference for the first time, I also recognize that it requires many of you to forfeit additional personal time on behalf of Enron.
I truly appreciate your sacrifice and I sincerely encourage your attendance.
The new agenda, while still being finalized, will be abbreviated but every bit as informative and worthwhile as previously planned.
We'll be in touch soon with more details.
Regards,
Subject: Annual Compliance Meeting

As a reminder, the mandatory Annual Compliance Meeting was rescheduled to Thursday, November 8, 2001 from 8:30 - 10:00 am at the Doubletree Hotel, LaSalle Room B.
The agenda is as follows:  		Robert George			Board Seats 		Richard Lauer			ECT Securities LP  		Cassandra Schultz		Risk Management Policy 		Bob Bruce			Chinese Wall Policy 		Chip Schneider			Transaction Approval Process 		Rick Carson			RAC Reporting Tools  Please confirm your attendance at this year's meeting either by responding to this email message or contacting Donna Wackerle at ext.
39755.
If you have already RSVP'd, thank you and we will see you Thursday.
If you have any questions, please contact me directly at ext.
31939.
I look forward to seeing you this year.
PLEASE FORWARD THIS MESSAGE TO YOUR ADMINISTRATIVE ASSISTANT TO ENSURE IT IS SCHEDULED ON YOUR CALENDAR.
Subject: RAC Directory

Attached, please find the emergency contact information for the RAC group.
In the event of an emergecy, please use the list to contact the members of your group.
It will be updated on a monthly basis and distributed by the 10th day of each month.
Please keep this list at your home until the next update is received.
Thank you
Subject: Committee Meeting Poll

We are in the process of determining the Committee meeting schedule for December 10, 2001.
Please let us know approximately how much time you may require for your agenda in order to ensure the appropriate allotment of time.
Thanks.
Subject: Expense Reports Awaiting Your Approval

The following reports have been waiting for your approval for more than 4 days.
Please review.
Owner: Karen K Heathman Report Name: Brad Larson Days In Mgr.
Queue: 6
Subject: Haina Note

Dan,  Rod Hayslett has agreed to support the sale of the Haina note.
Please proceed.
1)	I want a DASH on the transaction.
RAC signoff on any asset sales is policy.
I view the sale of a note as policy.
2)	I want to make sure that Enron is not making any substantive reps or warranties that could bite us.
3)	I want to know who the buyer is.
Ray
Subject: Qwest Note

Steve,  Make sure that we circulate a DASH on the disposition of the QWEST note which we discussed on Friday.
I want to reinforce the concept of RAC signoff of asset sales, including the sale of financial assets such as notes and receivables.
When can we close the sale?
Thanks.
Subject: Quick Update

Bill and Friends: FYI, things are still quite tight here.
signed a number of netting agreements and some collateral as well towards the end of last week.
Fri nite signed 'ring-type' trade with Innogy which is one reason they came out in press saying that they were trading with us.
Also, signed netting and all but one point on collateral agreement with JAron.
Downgrade to Baa3/BBB- increases margin requirments by about ?19mm - primarily credit trading (solution to this being worked on but not imminent)  Priorities are producers of gas and power in UK.
In particular global counterparties.
cna you please provide brief update of following from your side for our 7:30 am meeting tomorrow (any quick insight/status appreciated) Hess Duke AEP EKT   Also, any news of status of secured bank facility, L/C capacity, when do we expect wire from Dynegy, S&P had ugly headlines(comments?)
We are starting to get some noise from regulators (FSA, OFGEN) and exchanges (UK px, lpx and apx) -not big numbers but hasssle and bad optics
Subject: URGENT NOTICE FOR TODAY'S TRADING PRACTICE COMMITTEE MEETING.

ISDA International Swaps and Derivatives Association, Inc. 600 Fifth Avenue  Rockefeller Center - 27th floor New York, NY 10020 U.S.A.
URGENT!!
URGENT!!
URGENT!!
URGENT!!
URGENT!!
URGENT!!
URGENT!!
Please note that the Trading Practice Committee Meeting scheduled for this evening at 6:00 at the offices of Bank of America has been postponed until further notice.
Kindly acknowledge by replying to this message.
**IF YOU HAVE CONFIRMED TO ATTEND ON BEHALF OF YOURSELF AND/OR YOUR COLLEAGUES, KINDLY FORWARD THIS MESSAGE TO THEM IMMEDIATELY**
Subject: Rescheduled:  Enron Bank Meeting

Tuesday, November 13, 2001  Enron will be hosting our previously scheduled bank meeting on Monday, November 19th at 2:00 p.m. EST.
The meeting will take place at the Waldorf Astoria Hotel in midtown Manhattan.
As previously stated, this meeting will be for Enron's bank relationship and credit officers only.
As such, identification will be checked at the door.
If you have not already returned your institution's Confidentiality Agreement, please fax it back to Mary Border's attention at 713.646.3422 by noon, Friday, November 16th.
Please note that there will not be a call-in number or video-conference for this meeting.
Please reconfirm your attendance with Mary either by email (mary.border@enron.com) or by phone (713.853.0941) as soon as possible.
We will be covering information on the pending merger, our current financial situation, and more details on our structured financings.
I realize that all of you have requested more information than we have been able to provide over the last few weeks.
Thanks for your patience and I look forward to seeing you Monday.
Regards,
Subject: Weekly Money Market Rates

Attached please find the rates for Tuesday, November 13, 2001.
Money Markets did not trade or price on Monday due to the Veteran's Day holiday.
The prices for the auction rate preferred (ARP) stock are as of Friday.
The ARPs traded on Friday in lieu of Monday's close.
If I can be of any assistance, please feel free to call me at 713-853-2386.
Thanks, Julie
Subject: phone number

Rick:  You can call Travis Mueller who owns a barber shop around the corner (next to Luther's BBQ) if you want.
He's quick, cheap and good.
His number is 713-650-1960.
Steven
Subject: Exchange ratio prices and probability

I have received questions about interpreting the ratio.
Let me use yesterday's closing price.
The merger probability is derived from a two scenario test, merger closure or merger non closure (there is also a competing offer scenario in reality).
Let's use a closing DYN price of $46.20 yesterday (note I had a typo), at the exchange ratio, (not taking into account timing and dividends), this yields a merged ENE price of $12.40 ($46.20 * .2685).
ENE closed at $10.00 yesterday.
Thus if the market thought there was complete certainty of merger, the prices would converge at $12.40.
Now comes the artful part, the non merger ENE price.
I included another tab (Merger) to sensitize this.
Say we pick an ENE price with no merger of $4.00.
Looking at a deterministic probability, one can look at the distance (difference) in dollars to calculate the probability.
For instance:  ENE merged           12.40 ENE close 14-Nov   10.00 ENE no merger         4.00  Probability of merger = (1-((12.40-10.00) / (12.40 - 4.00))) or 71.4%.
Said another way, there is a 71.4% chance of being worth $12.40 and a 28.6% chance of being worth $4.00, which yields a weighted price of $10.00  ($12.40 * 71.4%)+($4.00 * 28.6%).
I also included a $1 distressed ENE price and a $7 previously observed low end ENE price as scenarios.
Regards,
Subject: Securities Litigation

As you may have become aware, the company received notice yesterday that you have been named as defendants (along with Enron Corp., Ken Lay, Jeff Skilling, Andy Fastow, and Arthur Andersen) in one of the federal securities class actions.
I will forward to you a copy of the Complaint.
We are in the process of determining who would be the most effective counsel for you.
If you wish to have separate representation, please let me know.
I cannot guarantee that the D&O carrier will reimburse you for the cost of separate counsel.
I am setting up a meeting with counsel for Enron Corp., Susman & Godfrey, to discuss this litigation with you as soon as possible.
Please do not hesitate to call me with any questions.
Thank you.