Here is an email: Phillip, I'm building a sheet for each person specifically for financial hedging. Each day it will pull in the previous days position and previous day price curve to calculate the mark to market. Then that day's transactions can be entered to calculate the P & L of transactions which close out previous positions, as well as to calculate the new open positions. Initially, I thought that daily P&L could be calculated by simply adjusting the P&L whenever a transaction was made by the difference between the bid/offer of the closed out position by the offer/bid of the new position (of course time value and storage costs would be included). However, this only works if the person is 100% hedged, meaning they do not have any open positions which require marking. As the seller of synthetic storage utilizing 100% hedging, I should be able to do this, except for the fact that I will have size limits on transactions that will probably leave me open here and there. The main question I have is simply, "Should I be calculating the P&L for each person's storage book for open and closed positions?" Then beyond that, if we do calculate the P&L's from the buyer side, it seems that if their storage is not hedged, I will have to develop the market value of the storage in the ground and the remaining capacity to mark to market it. So, I guess I could apply the model for that purpose. Does this make sense to you? Any comments are appreciated. Thanks. Mat
What is a potential subject line for this email?
A: Synthetic Storage
Here is an email: The Enron Oral History Project Continues... "Using History to Help Enron Become the World's Leading Company" How can an understanding of strategic choices, regulatory change and corporate culture help Enron achieve its vision? Speaker: Joseph Pratt, Cullen Professor of History and Business, University of Houston and Co-Director, Enron Oral History Project Thursday, June 7 11:30 a.m. to 12:30 p.m. EB 5C2 To Make a Reservation, Call 3-1941 and Select Option 1 Lunch will not be provided, but you are welcome to bring your own. Please inform us ahead of time if you need special accommodations to participate in this meeting. Call 3-9390.
What is a potential subject line for this email?
A: The Enron Oral History Project Continues
Here is an email: I am attaching a revised draft notice of intent to exercise the purchase option for the equipment for the CA transactions. We need two separate notices - one for CA I and one for CA II. Ben/Fred/Rebecca, could you please prepare a draft of the two exhibits? Lisa/Catherine/Rose, I revised the form of notice to make it track the participation agreement and the development and construction management agreement. I've tentatively dated the notice as of this Friday. By my calculations, Monday is our drop dead date since a waiver of the 5 day period is not an option, and the deal dies if not closed by the 15th. Ben mentioned that I should be drafting a "release letter" for the banks and/or DevCo. It would be a big help if someone could point me to the section in the documents which set forth the requirements of the release, since I'm still wading through it all and haven't found the relevant language yet. Also, please advise of the results of the conference call which you had with the lenders (?) and/or their lawyers regarding the issue. I am working on the assignment and assumption agreement. Thanks,
What is a potential subject line for this email?
A:
CA Development I and II notice of exercise of purchase option