QUESTION: Mark: Attached is my current workload report. I'm beginning to get nervous about meeting traders' expectations as I am taking vacation from June 14 - 22 (seven business days) and I don't know who will be able to pick up my emergencies and routine issues. I have some idea about Mary's and Frank's workload and I have the impression that Brent is constantly busy with weather. I'd like to briefly discuss Cheryl's workload I think it would be a good idea to have everyone submit a status report of sorts to you so that you can assess how much is "project" oriented vs. routine, specific commodity areas, and volume. FYI, I am trying to limit Cheryl's activity with Gary's group to brokerage agreements only. The huge volume of activity on the brokerage end was apparently the result of a recent audit by AA and effort to "cleanup" the agreement status. It should be winding down. I have encouraged Cheryl (as have Frank and Mary) to provide you with a workload report since we really want her to be trained in the swap basics. Also, I will try to schedule a conference call with David Mitchell, you and me before I leave (topic is online trading of credit derivatives). Currently, only ECL is offering the bankruptcy default swap online (and no one is hitting the product).
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ANS: attorney workload

QUESTION: Guys, notes from the morning meeting. Please review and comment. Specific action items: a) i)further calculation of ENA/Non- ENA capacity charges, ii) estimation of outside legal and iii) formulation of charge out/feedback process to the business units; b) need budget/review for competitive analysis, technical and restructuring. Regards
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ANS: ENA Group Expenses

QUESTION: In order to bring better legal coordination and standardization to Enron's Risk Assessment and Control (RAC) group, we have formed a new legal group, which will initially include Lisa Mellencamp (Finance), Marcus Nettelton (Power Trading), Carol St. Clair (Broadband/Power Trading), Mary Cook (Financial Swaps), Peter Keohane (Canada), Ed Essandoh (Retail), Paul Darmitzel (Retail) and Elizabeth Sager (Power Trading) (Team Leader). This group will focus on, among other things, managing Enron's exposures with bankrupt counterparties, working out credit solutions with distressed counterparties and standardizing our overall credit practices. The initial members in this group have been drawn from Enron's numerous legal groups in order to gain a broader perspective. Each of these members will provide support to this new group in addition to their current responsibilities. Within RAC, Michael Tribolet will focus on distressed counterparties, in conjunction with Bill Bradford, who continues to manage the Credit Risk Management group. Please join us in supporting the efforts of this new group.
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New Legal Team to Assist RAC