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Thanks, Rick
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Karen- please print this out and file somewhere.
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tx rick
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Thanks- I am very interested in this business so if I can help let me know.
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Tx Rick
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Please print and file tx rick
dev12
10,209
A "Doorstep" inspection of this business was performed in accordance with our procedures and apparently this business is a disaster!!!
dev12
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We need immediate action on this up to and including shutting it down.
dev12
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This was the worst we have seen at Enron and I don't even want to put in this email what I heard was going on there.
dev12
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We need a coordinated solution here asap to avoid a real disaster, if there isn't one already.
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I'll speak with Rick Causey here about what immediate action we should take but the more you guys can dig into this the better.
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More to come.
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Rick
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Ted tells me you guys have already taken action on this which greatly relieves me.
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I did not want this procrastinated on.
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I have a meeting scheduled with Rick Causey and will get up to speed on what exactly what has transpired prior to that meeting.
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Thanks for giving this your immediate attention.
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Rick
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Karen- please print this out and file somewhere.
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tx rick
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The above transaction was presented to the Board on 1-29-2001.
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There was considerable discussion which I have summarized below.
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Returns: were the returns sufficient to syndicate the risk.
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I answered positively, which is what the capital price addresses.
dev12
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The dash return is a blended debt and equity return.(?) Was the $19 million excess proceeds enough to allow the company to operate.
dev12
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I answered yes since 85% of reserves are producing and little capital will be needed to develop pdnp and pud reserves.
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Is management capable of operating or will they be in chapter 11 again soon.
dev12
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I answered that the bankruptcy was a result of overpaying for Wyoming deal and low commodity prices last two years which resulted in a bb decrease below outstanding.
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We will have to watch this issue carefully.
dev12
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Are banks reluctant to support KCS and could this cause a liquidity problem?
dev12
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Answered that all creditors were made whole and likely that someone will come into credit but it was a risk, although for the time being they had enough cash to operate.
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This feedback is just for fyi but it does indicate that board is active and not a rubber stamp.
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Rick
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Please print and file tx rick
dev12
10,237
Thanks for your note.
dev12
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I want to wish you the best of luck in EES.
dev12
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As far as RAC's issues with EES, I would suggest getting together with Tribolet and getting some of the lists that have been put together as part of the task force.
dev12
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I would also suggest attending the task force meeting, providing EES management is agreeable, to get a better picture of what is going on.
dev12
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Again, I hate to see you go but it will still be value added to RAC and Enron.
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Have fun!!
dev12
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Rick
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I liked him alot.
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Seems ready, willing and able to make a move.
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What are your thoughts?
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Rick
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Sounds fine to me.
dev12
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Does it make sense to run resume past Brown and Sherriff prior to bringing him over?
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Also, is the idea he would be a director, sr director or vp?
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Each of these paths has consequences as you know.
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Rick
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Thanks for the feedback.
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I sent my best guy there so I hope there is improvement.
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We have been talking to a candidate for credit that Ted will be discussing with you soon.
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Hopefully we can make progress there also.
dev12
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I want complete buy in from you and John on this guy before we proceed.
dev12
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Separately, the scrap metals meeting we had with Causey went well.
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We will reconvene in two weeks to see where we are.
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Thanks again for the feedback.
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I was a little worried about Ted after the MD disappointment but it seems he has recovered.
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Rick
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thanks- now i just have to convince jeff-- rick
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This is fine by me.
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Rick Buy
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Since my daughter is going over to London it prompted me to see if that would be a good time for me to come as well.
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Then week of March 5.
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I could stay a day or two if needed.
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Any thoughts?
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Rick
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Check out this site.
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Rick
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thanks- now i just have to convince jeff-- rick
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This is fine by me.
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Rick Buy
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Check out this site.
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Rick
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What type of projects?
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If you give me a brief description of what you are referring to I can forward to the correct person.
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Thanks, R. Buy
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Please include Bill Bradford if possible.
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Tx Rick
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Please include Bill Bradford if possible.
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Tx Rick
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10,285
This was an excellent response.
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No need to take too much grief though.
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Rick
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Jeff- this guy sent me this email.
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Probably not any interest to you, but you can decide.
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Rick
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This was an excellent response.
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No need to take too much grief though.
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Rick
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Are you alive?
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How is your health?
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Is stress a big part of your life?
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Hope all is well.
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You are doing a great job there for us but if it gets to be too much we'll try to help.
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I noticed that west power has already made a fortune this year so it must be crazy.
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Rick
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You may have an interest in this.
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FYI Rick
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