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fyi- wasn't there a discussion on this at prc?
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rick
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please schedule
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Are your plans to stay on 28?
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We are doing some planning on office space.
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I have some people in 3 Allen that I would like to move over here but it is not a big issue.
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I had heard that you were moving.
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Tx Rick
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We are probably ok for now since we got the space from networks.
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Rick
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Yes we should present fx exposure at every meeting just like credit exposure tec.
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Format as before.
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Rick
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Tx Please stay on top of this and pass on info to Bradford for inclusion in our overall Calif. analysis.
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Rick
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wow!
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what's behind this, not that I think it isn't a very prudent decision.
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rick
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Are these numbers consistent with your expectations.
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We will submit to HR if no onjections.
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Traditionally Sutton has looked at the range and made the decision where to be inside the range.
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I don't know if Skilling will do the same.
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I have a voice mail into him to see.
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Rick
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Lets discuss this before we make offer.
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Rick
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You all should have received instruction from Sheila W. on the system for salaries.
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I need that info late today so I can look at over the weekend.
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Numbers are due Monday am.
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Rick
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Chip is assigned to North America primarily but we asked him to get up to speed on the India situation in case a new deal should arise there that requires RAC input.
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He is a sharp guy with lots of project finance experience and also worked in London for Eastern.
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If you don't want him involved and a transaction arises it will be difficult to get someone up to speed quickly, given the complexities.
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Rick
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Great!
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This is exactly how I want everything in RAC to work.
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Rick
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I will be unable to attend this meeting as I will be in Canada meeting with banks.
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Bill Bradford could attend in my absense if Dan thinks appropriate.
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Rick
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I go away for a day and come back to yet another $40 million of PGE exposure.
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I guess the lesson is to not go away.
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Where does this end?
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This is a painful way to learn about derivative credit exposure.
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Please inform all "deal doers" at EES that they better have RAC review their deals (Mercury) in detail before they sign.
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This is more out of control than anything else we have at Enron.
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Rick
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I like this slide from Tara.
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Can we use somewhere?
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Rick
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This is great.
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I want to use it at our upcoming credit conference.
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Thanks, Rick
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My daughter has reservations at Kingsway House, 71 Eardley Court.
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Can you see if anyone knows if this place is a disaster?
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She is going with a girlfriend that doesn't have hardly any money so they had to find a place that was cheap which worries me no end.
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Tx Rick
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Yeah, I heard.
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Childers informed me and rubbed it in that he was key in talking me out of that decision.
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I think I made the right decision ya think?
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Rick
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fyi, rick
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Maybe have her contact Ted since he is in London???
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Rick
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Craig, received another statement showing another service charge.
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We should probably cancel this account.
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Rick Buy
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Maybe have her contact Ted since he is in London???
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Rick
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Please be sure this is in some legal record or something so I don't have problems with this in the future.
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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
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A "Doorstep" inspection of this business was performed in accordance with our procedures and apparently this business is a disaster!!!
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We need immediate action on this up to and including shutting it down.
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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.
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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.
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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.
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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.
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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.
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Are banks reluctant to support KCS and could this cause a liquidity problem?
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