IN: The Commission at today's FERC meeting voted out orders in the three Southeast region RTOs - Grid South, SETrans and SPP. It was reported at the meeting that the orders will find that it is necessary for a single Southeast region RTO. A separate order will be issued in a new docket RT01-100 initiating mediation before an ALJ (Judge Bobbie McCartney) to facilitate the formation of the single Southeast RTO. Within one week, the settlement proceeding will begin and will continue for 45 days. The judge thereafter must report to the Commission within 10 days including an outlline of a Southeastern RTO, milestones for completion of intermediate steps and a deadline for submitting a joint proposal. The Commission will review the report and may issue further orders as needed. Grid South, SE Trans and SPP are required to participate and Grid Florida is encouraged to participate in the mediation. All parties to any of these RTOs should also participate. The Grid South order will also include language requiring an independent board. After the independent board is established, it should choose an operator of the RTO. This language should further support the idea set out in a prior SPP order granting Enron's clarification that the RTO should not make major capital expenditures for software or operating systems prior to the establishment of an independent board. The Grid South order should also include language supporting the establishment of interconnection standards.

Generate a subject line.

OUT: Southeast Region RTOs
IN: This is an email
Ken, Greg and Mark, I wanted to provide you a suggested agenda for the rescheduled Management Conference. After working with Joannie Williamson to coordinate open dates on your calendars with hotel availability, here is what we are proposing: Location: Westin La Cantera Resort, San Antonio (The Woodlands still will not have enough rooms to hold our group in February. We are concerned that if we don't have people committed to stay over, especially on a weekend, we risk weak participation. Also, by rebooking with the Starwood property, we hope to potentially recoup some of the loss incurred by canceling our November date and maintain a positive relationship with the company.) Dates: Friday, February 22 and Saturday, February 23 (We received feedback that employees may not appreciate being asked to sacrifice a weekend right now. However, these are the dates that the hotel is available. Available dates the previous week would interfere with Valentines Day and coincide with the peak of the Winter Olympics in Salt Lake City.) Agenda: DAY 1 Friday, February 22 2pm - 5pm Registration 6pm - 9pm Reception and Chairman's Dinner Speaker: General Norman Schwarzkopf (The General is currently available on this date, but has not accepted the engagement. I feel that, if we can reschedule him, he would be a significant draw to ensure people arrive in time for the evening activities.) DAY 2 Saturday, February 23 8am - 2pm Business Agenda (I will keep Ken and the brief business unit presentations/panel on the agenda. I also hope to reschedule Gary Hamel. Otherwise, I will remain flexible on the agenda.) 2pm Meeting Adjourns No planned activities (The activities are perceived as an unnecessary extravagance at this time.) We'd like to issue a memo about postponing the Management Conference to invitees as soon as possible. While details on the agenda can be resolved later, please let me know if you are comfortable with the dates and location so we can include that information in the memo. Regards,

What is the subject?

OUT: Rescheduled -- Management Conference
QUESTION: POSREP HOEGH GALLEON, DATE: 10-May 12:00 9:00 (UTC) A) Position at noon: N 12 25 E 044 29 B) Dist. From last noon: 443 nm C) Dist. To go to next port: 1199 nm D) ETA next port: Qalhat 13 0900 LT E) 1: Average sea/wind Sea: SW 4 Wind: SW 3 2: Average speed 18.46 kn 3: BOG consumed 0 m3 4: BOG Total 0 m3 5: F.O Consumed 164 m3 6: G.O. Consumed 0 m3 Brgds Knut Bentzr?d Master LNG/C "Hoegh Galleon" E-mail: master.gall@hoegh.no Teleph: Inmarsat tel.no.+873 330853910 Fax : Inmarsat fax no.+873 330853913 Telex : Inmarsat B telex no.+583 330853915 Telex : Inmarsat C telex no.+583 430853910 (24hrs.watch)
Propose a subject line for this email?
ANS: POSREP 10 MAY
The following is an update of the last two meetings of the FASB and decisions made regarding goodwill and intangible assets: The Board reiterated that they intend to release the statement in final form in June 2001 despite publicity to the contrary. The Board decided that goodwill should be tested for impairment annually rather than on an events-and-circumstances basis as previously proposed. Additionally, goodwill should be tested for impairment during interim periods if an event or circumstance occurs between annual tests that might reduce the fair value of a reporting unit below its book value. It should also be tested for impairment on an interim basis when (1) a more-likely-than-not expectation exists that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, or (2) a significant asset group within a reporting unit is tested for recoverability under SFAS 121. The Board changed the proposed method for determining the amount of goodwill to be included in the net assets to be disposed of. Under the new method, a portion of the reporting unit's goodwill will be allocated to all divestitures. I do not believe that the Board gave full consideration to all of the issues surrounding this decision. In particular, they did not address application to divestitures that result in a loss prior to or as a result of goodwill allocation and disposals of equity, cost or fair value method investments. additionally, the calculation itself is arbitrary and onerous in that fair values of the reporting unit and its recognized and unrecognized assets and liabilities will have to be determined each time a divestiture is done. I will be consulting with AA on this to see if they can encourage the Board to give thought to these issues prior to releasing the final statement since they do not intend to discuss the issue further at this time. The Board changed the proposed method of allocating goodwill upon an acquisition to allow for allocation of goodwill in an acquisition to a reporting unit even if none of the assets or liabilities of the acquired company have been allocated to that reporting unit. Please feel free to call me if you have any questions on the latest developments. Thanks. Mary
Q: What is a potential subject line for this email?
answer: Goodwill Update
Q: Dave: One item that was left open after my meeting with Mark D. this morning was what the Index should look like and how much input we have had from the confirm desk. My inclination was that the index should be the same language that we currently use in the confirmation on the theory that the GTC taken together with the long description should result in a complete, unambiguous contract. Mark felt that the index should provide a more complete description than the short description abbreviation but that the full legal text could wait for the paper confirm. Given Mark's view as to how this field should be dealt with, it may be that the confirm desk has in fact looked at all of these and said they look fine as far as they go and has not attempted to correct them with the full legal language. Mark said he would be contacting you himself but I thought it might make sense to give you my version as well. What are your thoughts? If you'd like to discuss, I will be in by 9:00 tomorrow but have a meeting at 10 and then the meeting with all of the lawyers and Mark to discuss the further long description review at 11. Mark
Propose a subject line
A:
Long Descriptions - Indexes