QUESTION: Joe, Mike, Please check with PR first if we want too talk to her and run it by Mark. I think it is in our interest to be quotes extensively in the press. Vince
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ANS: Report Research

QUESTION: It's not looking good for getting back to you today on this - shaping up to be a very bad day and we need to coordinate with Credit for their responses as well. I have a call in to John Suttle and have forwarded the revised draft to him. We'll do what we can. I saw your reply to my previous note. On this one point: It strikes me as disingenuous to say that they don't have the internal systems for csa's with nonfinancial counterparties - the same systems would work for nonfinancial parties as well as financial parties. IBJ is the most sophisticated Japanese player in the derivative market and one would believe that they could handle the documentation for both financial and non-financial entities. I note, I have heard that it is not market practice for Japanese financial institutions to provide collateral to non-financial institutions, so it may be very difficult for them to alter their position. I understand. My view is just that it is probably not a systems issue but a position and it irks me to have the point made as a systems issue when it is not. As we both agree, the issue may be moot depending on what Credit thinks.
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ANS: IBJ

QUESTION: Hi Lindy. Sorry I've not yet set up the meeting on imbalances...I feel I am still lacking focus so thought I'd run this by you for your comments before inviting people. First of all, I believe the general topics we wanted to address were: - imbalance netting & trading - mandatory use of Park N Ride service for out of balance operators - hourly determination of imbalances Is this correct? Next, the list of attendees: you, me, Darrell, Richard Hanagriff, Sheila Nacey (or someone else she designates). Anyone else? As far as timing, I am very flexible, so let me know what works for you, and I'll get it set up.
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ANS:
imbalance meeting