QUESTION: With respect to future Enron guarantees, there are at least three issues to be addressed in addition to the pervasive objective of transitioning out of the parent guarantee: 1. Excluding the value of major equipment from the guarantee. I believe this is already being done for new bids. 2. Carving out at least part of the guarantee as within Enron's/Nepco's discretion to establish performance or other bonding instruments. 3. Negotiating transferability of the guarantee, i.e. the guarantee can be assumed by another credit-worthy entity with at least investment grade or, if necessary, at least a rating equal to Enron's at the time of assumption. Since the substantive financial protection afforded by an Enron parent guarantee to the contract value would not be compromised if these are implemented, Enron's corporate position is very likely to push very hard on these points. Logically, owners and project lenders should be willing to accept these structures--even though there undoubtedly would be strong initial pushback. On the other hand, there may be a real question whether to accept contracts that do not provide for these relatively small steps away from the traditional hell or high water parent guarantee that Enron has approved in the past. Discussion of these issues should be included in the DASH. In any event, each new contract requiring an Enron guarantee will have to be approved by Rick Buy personally.
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ANS: Enron parent guarantees
All: We have set up the following recurring meetings: 1. One hour on Thursdays with Mark Haedicke and his legal team 2. One half hour on Monday and Wednesday with Bill, Molly, Teresa, Sharon, Tracey, and Lisa. Also Rita Bohner, Paul Darmitzel and Ed Essandoh of EES legal will attend. This meeting will be primarily for the dealing with the high volume of small EES deals. The aim is to define the process and drill on implementation (notices, termination, physical disconnection, proofs of claim, etc.). Molly has made great strides here. 3. Sharon Sullo and Tracey Kozadinos are developing a standardized database for the effort. Debbie Brackett has gotten involved on system feeds. More to come on this. The initial thoughts with Mark Haedicke were to parse the debtors into two or three baskets. Smallest size would be a process. We are grappling with whether we need a mid size and a large size process. As not all these deals show up on the Hot Deals Report. I have scratched out the top ten, high touch, efforts below: 1. PG&E 2. Edison 3. 360 4. NPW 5. Polaroid 6. California PX 7. Global Crossing 8. DPC LNG 9. EPIK 10. Cuiab? Turbine 11 Regards,
Q: What is a potential subject line for this email?
answer: Getting organized
Hi Jeff - Here's the deal, I've had a cold for a few days. I'm probably past the contagious stage but this is not an exact science. I'm up for teaching today but I figure it's fair to let people know in case they're concerned. I'll see you at 4:30 unless I hear from you in which case I'll understand. Hey, thanks for facilitating this little DAW discussion group. I think I understand the procedure now. I had to hunt around a little for the "reply to all" command(not on my tool bar), but I found it. Now I'm ready. I'm still learning about a lot of this stuff. Later - Avram
Answer: today
Here is an email: Here's an outline of what I was thinking of using. Obviously, there are huge holes in it, but I wanted to see if I'm on the right track. Kay
What is a potential subject line for this email?
A: Peoples document
Q: Well, this shows the direction in which the "new" Commission is heading. The very good news, though, is that TW's proposal was included in both settlements (now that's hedging!). Thus, the benefits to TW were preserved under both proposals. Congratulations. That's fantastic--hard work that
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A: Bad Proposed Decision
Here is an email: Phillip, I will get a room for our Wednesday 10:00 meeting and e-mail you with the room number. FYI, our goal is to discuss the expert path (best answers) for the storage problem and to ask you some specific questions regarding storage. Also, if you have time, could you send me a definition of Intra-Month Risk? Thank you for your help.
What is a potential subject line for this email?
A:
Wednesday Meeting