Problem: BODY: Jordan, in response to your questions concerning the issuance of letters of credit starting today, I think that the response needs to address two situations: the committed lc facilities [Chase and West LB] and the uncommitted facilities. Since the uncommitted facilities involve minimal representations, they are not typically an issue [although we still need to review each circumstance individually], and unless there is a specific representation to Enron Corp.'s audited financials for the period 97-00 being prepared in accordance with GAAP, we should be able to issue letters of credit from an uncommitted facility. However, sections 4.1(d) of each of the West LB Facility and the Chase Facility contain a representation that Enron Corp.'s financial statements were prepared in accordance with GAAP. This representation was false when made, and will always be false. Thus, there is an issue with an officer being able to make the representations and warranties necessary for an issuance of a letter of credit under one of these facilities [or for an extension of an existing letter of credit]. In order to utilize the committed facilities, it will be necessary to obtain an amendment or waiver of this representation, since simply adjusting the representation on an officer's certificate gives the agent a defense to issuance on the face of the certificate. [An amendment is preferable from Enron's perspective.] [Note that as we previously discussed, there is not an event of default under the facilities, since that provision has a materiality qualifier.]
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A: SUBJECT: Issuance of Letters of Credit

Problem: BODY: Executive Search Partners Inc. Thanks for taking the time to speak with me. I appreciate the opportunity to introduce myself to you. As you are well aware, a quality recruiter can be an invaluable resource to you, especially with the current state of energy industry. Executive Search Partners, Inc. provides national recruiting services across diverse business sectors. I specialize in the placement of Traders and Risk Management positions within the financial services and energy industries. Having spent over 15 years in the trading profession, including a position as one of the top Head Long Treasury Traders for Merrill Lynch Canada and an owner-operator of a Commodities Trading Company, I know the industry and am qualified to assist you in your job search. The relationships with my client firms in the energy industry have helped me successfully place candidates at all levels in the risk area. We understand the need to receive proper representation from your recruiter as it is a reflection of you in your job search. With intensive and daily exposure to the market, we seek potential job opportunities and most often know of positions before they're posted. By analyzing your own needs and objectives, career goals and philosophy, we develop with you a target profile for an ideal company and position. Candidates have found that having us assist during final discussions and negotiations with the prospective company provides them third party sensitivity and objectivity, so often necessary to close the deal. Our proven methods for helping people will give you a step up on other candidates in this ever-changing market, where time and timing are everything. As someone that knows and understands your business, I feel strongly that I am qualified to help you. I look forward to working with you to explore job opportunities that can enhance your career. Sincerely,
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A: SUBJECT: Exceutive Search Partners

Problem: BODY: George, I would like to have a brief (30 minute) meeting about the noise in the political system about synfuel and reaffirm Jordon's viewpoint on Section 29 credits. This is big issue and without this reaffirmation I believe we will have approval issues with RAC and others. I want Jeff and/or I in the meeting. Thanks,
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A:
SUBJECT: Synfuel