Ed and Gerald, Brian and I spoke with Randy Curry of Bridgeline earlier today regarding a deal that we are trying to put together in order to sell the pad gas (in place) from Storage Caverns #13/#14. During that conversation, Randy indicated that: (i) ENA's default under its storage and transport agreements with Bridgeline impacts the Bridgeline partnership itself (and that there are certain side agreements that spell this out) and (ii) Bridgeline would reject any efforts by ENA to remove its gas inventories from storage facilities owned by Bridgeline. Bridgeline contends that ENA is permitted to pay all past due amounts and provide adequate assurances for future payment on its storage and transport deals as there is a bankruptcy order in place that allows the debtors to pay common carrier liens and warehouseman's liens. I asked Randy whether he had sought a lawyer's opinion regarding whether Bridgeline could be properly classified as a common carrier and/or warehouseman - he said that he had. Gerald please advise regarding Randy's assertions above. Ed, please let me know if you are already looking into either of these matters. If not, my guess is that you will be interested in hearing more. Regards
Answer: Bridgeline Partnership and Storage/Transportation Deals
All: I have once again revised the confirm for the EBS Raptor deal. There will be only one swap transaction: Harrier I LLC/Talon I LLC. Please note the following changes: (1) the Initial Equity Notional Amount has been corrected (2) I have expanded the definition of Cash Dividends (3) I have ADDED a provison for "Payment Obligations" to avoid confusion for those of you unfamiliar with the 1996 Equity Definitions. Since I have removed the interest payment feature, the only payments changing hands will be upside/dividends and downside. The "Equity Amount Payer" pays the upside (difference between Initial Price (on the relevant Valuation Date) and Final Price) and dividends; the other party pays the downside. (4) I have retained the concept of multiple optional termination dates. (5) Kevin: I NEED the Harrier account/notice information. This confirm should serve as a template for additional Raptor equity share swaps so please review and comment. Thanks. Sara
Answer: Raptor swap
Kim, The info I have on the ferry is this: It is not much more expensive to have a deluxe cabin. Since one never knows about Italian accomodations, I would go with it. It is the old ferry boat that goes this route on Oct 7. Departs at 20.45 (8:45pm) and arrives at 06.30 (6:30am) on the 8th. The deluxe cabin is 105,000 ITL each (approx 50.00 USD). It is not clear. but it seems that the reservations fee is 94,000 ITL (about 45.00 USD) While the cabin rate is per person, the res fee is per cabin, I believe. The regular cabin is 47.00 each and 42.00 res. The car rate is 56.00 and res fee is 53.00. Now, I am guessing on this, as their is no clear explanation. It could be that there is a discount if you make a res ahead of time, i.e. 42.00 for prior res and 47.00 if you show up at departure time. Same as passenger/cabin fee. It may mean 45.00 with prior res or 50.00 if you show up. I'll let you know when I receive an answer. It may be next week as I just e-mailed the request this morning. Regards, Dee
Answer: Ferry
Good news for Body Shop members! The Body Shop will reopen Monday, January 7, 2002. While we recognize that the Body Shop is a tremendous asset to all of our employees' health and wellness, we must reopen it without an Enron subsidy. Therefore, the membership fee will increase from $25 to $30 per month for all Enron employees and contractors. Spouse memberships will remain at $15 per month. Locker fees will remain at $10 per month and members may keep their current locker. (If you emptied your locker after the Body Shop closed in December, please notify the Body Shop reception desk that you would like to reoccupy it.) The overall price increase, coupled with reduced expenses, will enable the Body Shop to reopen and remain open on a cash-neutral basis to meet creditors' requirements. Payroll deductions will be reactivated with the January 15th payroll and will include the increased fee. If you do not wish to continue your membership, please contact the Body Shop to cancel your membership via email only at <mailto:Body.Shop@enron.com>. Membership information and enrollment forms can be accessed below: The Body Shop's new hours will be 6:00 a.m. - 7:00 p.m. Monday through Thursday, and 6:00 a.m. - 6:00 p.m. on Friday. Saturday hours are not offered at this time. Although laundry service has been discontinued, towels will continue to be available for your convenience. Once the ongoing membership base and associated revenues have been stabilized to support staffing and housekeeping, exercise classes will be scheduled. We anticipate exercise classes to be available within a few weeks. Massage therapy services will continue and are available by appointment by calling extension 3-3047. Whether you are a continuing member or considering new membership, there is no better time for you to take advantage of the Body Shop and to take care of your personal health and well being than right now, at the beginning of 2002. Your continued support is greatly appreciated.
Answer:
FROM CINDY OLSON, COMMUNITY RELATIONS: Body Shop Reopening