Q: Last year money was to be set aside in reserves to cover the net amount needed to resolve these issues with Transco, BUG , LILCO and Enron. The total dollars required was approximately $4.25 million. An amount of $3.55 million needed for the Transco historical imbalance resolution. The remaining balance was needed for the BUG and LILCO accounting issues that Keyspan brought to our attention last year. Bob Hall has $3.5 million reserved in his area for the Transco historical imbalance. The remaining $50,000 for Transco and approximately $700,000 of additional funds for the accounting issues were to be reserved last year under "The Office of the Chairman". Sally Beck and Janet Dietrich arranged for this additional money to be reserved at the "Chairman" level since the additional funds were needed to correct an old accounting problem that should not hit the East Desk P&L. Also, the arrangement was that the reserve would be maintained until the settlement payments were made by Enron. As with most stories, there is some good news and some bad news. First, the bad news. After a great deal of investigation, it appears that there currently is no reserve at the "Office of the Chairman" for these additional funds. Now, the good news. Georgeanne will take the necessary steps to make sure there is money available so that we can quickly resolve these issues with Keyspan and Transco. If you have questions, please give me a call. Ruth x31667
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A: Transco Historical Imbalance & BUG/LILCO Accounting Issues

Q: Ladies and Gentlemen: Thank you for the constructive dialogue and feedback you have provided to the process of developing a charter for a Global Business Council at the WEF. As part of the process, we have solicited Council member feedback on the proposed role, structure, governance, activities and performance of the Global Business Council. A large number of members have responded through interviews, e-mail and faxes with their thoughts and perspectives. You have clearly communicated to us that in order to be a successful and high performing group, the Global Business Council needs to: - Have a clear and articulate purpose - Primarily serve as an advisory body - Work in a flexible and informal manner - Develop a balanced agenda of globally relevant business issues - Provide a forum to review these core issues in depth - Have meetings that provide substantive discussion to progress the core agenda. We have incorporated this thinking into a strawman charter for your review and feedback. We will include your comments on this strawman and develop the next iteration of the draft charter by November 2nd. As discussed, all responses and comments will be recorded without attribution to the member source. Thank you, again, for taking the time to support this exercise.
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A: GBC - Strawman Charter

Q: Tanya: I've been meaning to touch base with you about: In our form CSA, the Debt Rating Change is triggered ONLY off of S&P. I thought this was a carry-over from ENE's previous split rating. Does credit want to leave the trigger at "below BBB- by S&P" or also add in Moody's? Thanks. Sara
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A: general issues

Q: Reggie just brought around a whole stack of confirms of pulp & paper deals that came into the fax area. Is anyone looking for this stack of confirms? If not, I'll have Reggie walk them down to Joe Hunter.
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A:
Pulp & Paper Confirms