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Enron Mail |
I think this is a call Sally might be interested in being in on. Can you
make sure she is aware it is taking place? ---------------------- Forwarded by Shona Wilson/NA/Enron on 09/19/2000 01:04 PM --------------------------- Tim Poullain-Patterson@ECT 09/19/2000 12:39 PM To: Shona Wilson/NA/Enron@Enron cc: Subject: FYI: Trading v Origination to be resolved ---------------------- Forwarded by Tim Poullain-Patterson/LON/ECT on 19/09/2000 18:41 --------------------------- Richard Sage 19/09/2000 18:13 To: Mike Jordan/LON/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT, Naomi Connell/LON/ECT@ECT cc: Phil Redman/LON/ECT@ECT, Robert Soeldner/LON/ECT@ECT Subject: FYI: Trading v Origination to be resolved ---------------------- Forwarded by Richard Sage/LON/ECT on 19/09/2000 18:15 --------------------------- Nicole Scott 19/09/2000 17:20 To: Richard Sage/LON/ECT@ECT, Sharron Westbrook/Corp/Enron@ENRON, Jo Corbitt/NA/Enron@Enron cc: Subject: Conference call I would like to confirm the following conference call for Thursday 21st September at 10am Houston time, 4pm London time Attendees Rick Causey, Rick Buy, Richard Sage & Fernley Dyson Fernley will be calling into Rick Causey's number. Thanks Niki ---------------------- Forwarded by Nicole Scott/LON/ECT on 19/09/2000 17:17 --------------------------- Richard Sage 19/09/2000 00:02 To: Nicole Scott/LON/ECT@ECT cc: Kathryn Thomas/LON/ECT@ECT Subject: Conference call Niki, Can you arrange a conference call with Rick Causey and Rick Buy for Fernley and myself some time soon to discuss the below. Many thanks, Richard ---------------------- Forwarded by Richard Sage/LON/ECT on 19/09/2000 00:04 --------------------------- To: Richard Causey/Corp/Enron@ENRON, Rick Buy/HOU/ECT@ECT cc: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Fernley Dyson/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT Subject: Rick, Rick, There are three MG offices in North America outside New York which, previous to the acquisition by Enron, acted much as trading offices. They are very small. We have worked with the people in Metals to put in place extra controls so that they are not trading offices, for example having a trader in a designated Trading Office own each book and sign off on profit daily. This process has highlighted the fact that our non-trading offices are not all the same, and cannot reasonably all be the same. Some offices organise logistics things to happen on the ground, some originate (get a price from a Trading Office for every deal), and some execute for Trading Offices (are given a range within which they can execute trades). is a suggestion for how we can make this division explicit. Tab 'Office Models' shows which functions are performed in which type of office Tab 'Office List' shows the actual offices involved We propose to re-examine this methodology in 6 months' time. Buy-in has been obtained from the cc list and the people on the ground. It is worth noting that this approach would have caught Helsinki, except for the Contract-in-a-bottom-drawer, but no system of control can reliably catch that, as was evidenced by EOTT. Are you both happy with this approach? Are there any extra controls you would like to see in place? Thanks, Richard
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