Q: Hi Jeff, I was cleaning off the desk of one of my coworkers who was laid off and found two letters from KeySpan that she had not handled. They were both from Charles Daverio, KeySpan Utility Services LLC as agent for The Brooklyn Union Gas Company. One letter is a termination of a master agreement between ENA and The Brooklyn Union Gas Company, dated 12/01/88, with the termination effective 10/31/04. The other is an alternative contract quantity election effective 11/01/01 for a master agreement dated 12/08/88. I cannot locate either of these agreements in our system. KeySpan Utility Services LLC, as agent or otherwise, is not set up in the Global Counterparty system at all. None of our Brooklyn Union agreements even come close in date to the ones referenced in these letters. In light of our current situation, I wanted to check with you to see if you knew anything about either agreement being referenced. I certainly do not wish to call the counterparty and it probably does not even matter at this point. I do plan to send these documents to the file room, but without a contract number to file them under, the file room will not know what to do with the documentation. Please advise. Thanks,
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A: KeySpan agreements

Q: Adam, To follow-up on our discussion from last week: With regards to the need for equity/certificates at the Trust level, this is really a function of the requirements posed by the investors. Our tax group would defer to the underwriters. If the note investors can tolerate equity treatment (for tax purposes), then there should be no need for certificates in the structure. In previous transactions, the presence of certificates has allowed the notes to be treated as debt for tax purposes and therefore the payments treated as interest income. With regards to cross-default, a default in the Enron note does not result in a default of the swap between Enron and the third party entity or a default of the swap between Enron and the financial institution. Attached is a diagram of the prepay structure, as discussed last week. Feel free to call with any questions. Regards,
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A: Yen CLN follow-up

Q: pink collar (PINGK KOL-uhr) noun Pertaining to the type of jobs, such as telephone operator or secretary, traditionally held by women. [From the color pink, traditionally associated with women, on the model of phrases white collar or blue collar.] "Ever on the alert for social shifts among the power elite, the New York Times pointed out the other day that this is the year in which women entering law school may, for the first time, outnumber men. The Times drafted a number of learned observers to speculate on the meaning of it all: Perhaps the atmosphere of law schools will become more 'teamlike'; ... But the most interesting comment in the article came from one Deborah Rhode, a Stanford law school professor who worries that the law may become a 'pink collar ghetto,' like other professions that have traditionally welcomed women." Marjorie Williams, Woman's Place Is At the Bar, The Washington Post, Apr 4, 2001. This week's theme: words with color as metaphors. ............................................................................ The devil can cite Scripture for his purpose. -William Shakespeare, poet
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A: A.Word.A.Day--pink collar

Q: Jay, what are we doing with questar positions? Are you managing this index point? I have an April position and Mark Whitt is working on a term deal. Thanks,
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A:
Questar positions