Greg, I've been helping the HR team draft this memo. Cindy asked that I run it by you prior to having it sent out. Any comments? As we continue to address a number of issues facing Enron, it is critical that the company remain focused on attracting, motivating and retaining our diverse and talented workforce. We strongly believe that our workforce is world-class - the best in any industry, so we will continue to develop and reward this tremendous talent base. Because the lasting strength of our company is determined by the strength of our workforce, we are elevating the role employee-focused functions play within Enron. We are pleased to announce that effective immediately Human Resources, Employee Responsibility, and Executive and Corporate Compensation will report directly to the Office of the Chairman. David Oxley, Vice President, will continue to oversee Enron's Global HR function. The lead HR representatives for the individual business units will report to David in addition to their respective Office of the Chairman. Besides managing Recruiting, Staffing, Training, Compensation and the Performance Evaluation Process, David will also add Payroll and Labor Relations to his list of responsibilities. Cindy Olson, Executive Vice President, will have responsibility for Employee Relations and Corporate Responsibility, which includes Social Responsibility, Community Relations, Diversity, Employee Relations, Redeployment, Alumni Relations, Employee Events and Programs, Benefits, Wellness, and Worklife. Mary Joyce, Vice President, will continue to have responsibility for Executive and Corporate Compensation in addition to Global Employee Information Management and Reporting and Analysis. David, Cindy and Mary will each report to the Office of the Chairman. A detailed organizational chart is attached. Please join me in congratulating them on their new responsibilities.
Q: What is a potential subject line for this email?
answer: Organizational Announcement
Along with Mike McConnell, I am active in recruiting for Enron's Analyst Program at the University of Oklahoma. We became involved in recruiting there two years ago when I learned about a targeted undergraduate program that seemed like it could be a good fit for our program. OU transformed their old PLM (Petroleum Land Management) program into the Energy Management Program in the School of Business. This undergraduate degree retains the geology, business law and other specialized classes that were part of the PLM program, but adds additional finance hours with a focus on derivatives and a trading floor course. With the added plus of many of these students growing up in or around "energy" families in Oklahoma or Texas, I thought that recruiting top graduates from this program could be beneficial to Enron. Our recruiting efforts at OU continue to be successful and our OU Energy Management graduates have done well at Enron. Our first hire from OU (and the top Energy Management student) was Jody Crook. He joined the analyst program last February after a December 1999 graduation. His first rotation has been on my team, working as a risk book administrator in gas trading. He is in the process of looking for a second rotation at the end of February, and I think that he is someone that you should consider for a rotation on your team. In addition to this last year's risk experience at Enron, Jody worked as a landman for two summers for Burlington Resources. I was very involved in recruiting Jody to Enron. I think very highly of him, and want to be sure that he has good rotations while in the Analyst program. His background and your business seem to be a good fit. Please visit with Jody as he contacts your group about a rotation. It will be well worth your time. Thanks.
Q: What is a potential subject line for this email?
answer: Analyst Rotation Recommendation - Jody Crook
Although I am still waiting for another Brazilian visa, I would like to pose several potential dates to meet with you regarding Enron North America Corp. trading issues. I am presently considering several time periods: September 9,10, 12-17,19-24 Obviously, I can be available at any time during the month of Septermber as well as future months. But I would like to get started as soon as possible. If you could kindly e-mail or call me (713/853-5620), I can elaborate further. Thank you. Sara
Q: What is a potential subject line for this email?
answer: Financial Trading Issues in Brazil
Meeting covered Market Power and Market Monitoring issues. First presenter was David Patton, from Potomac Economics. This firm has been jointly hired to provide technical support to SPP, MISO and Alliance. Many initial questions on what is market power, how can you define a well functioning market, etc. David envisions a market monitoring organization. If a problem emerges, it has to work with the RTO. IMM should not recommend power mitigation measures, but it should report any problems to FERC. It (has to go via FERC). General feeling is that Market Monitoring should be much more than market power, but to make sure that the market as a whole is functioning. It seems to me that the proposal is aligned with what Christi has advocated as part of the Southeast Mitigation. Multiple questions on how power market should be handled for must run, out of merit (constrained on and contrained off plants) and inflexible plants (e.g. hydro or take or pay gas contracts). Proposals to establish price caps were not accepted. Instead a proposal to deal with one or more generators with potential mkt power: they should have caps on bid prices. David proposed some market rules to deal with specific circumstances. It was generally accepted that demand side response should be used to mitigate market power. Other questions on how demand side bidding shold be operationalized (Mike: are there rules for DSB as part of the MISO Market Rules compendium?) Second Presenter - from WPPI. He raised serious concerns about potential market power in the region (Michigan Peninsula). Should utilities have approval to sell at market based rates? How should ATC be calculate to take into account counterflows? Issue is more pertinent until RTO enter into day 2 phase. Presenter's proposal, which faced a lot of resistance, was to assume that all Gs have market power, unless they prove otherwise (except must run agreements for reliability purposes). Roberto disagreed: this goes beyond MISO's authority. RTO has to work with IMM if market power is suspected. Dynegy requested David to further explore the situation of must run plants. David asked whether or not we had filed our position on MM for MISO. Mike: you may want to send him a copy, just as a courtesy. LM
Q: What is a potential subject line for this email?
answer:
MISO Meeting last week