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Enron Mail |
How about this for a business model for an origination and trading outfit.
salesperson talks to customer customer agrees to trade salesperson phones trading desk and gets price (trading desk is London or NY - NB: all lines are taped) salesperson tell customer customers says ok salesperson says "done" to customer and trading desk trading desk books deal, middle and back office processes kicks in, sends out and chases up confirm etc accounting process identifies value added by salesperson and gives them a piece of the price as a credit no bank accounts or signing authority in sales office no accountants, middle office people or other similar humans in the sales office, just sales people all hedging and risk taking resident in trading books in NY or London Can we not make this work ? DP To: Bjorn Hagelmann/HOU/ECT@ECT cc: Sally Beck/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Shona Wilson/NA/Enron@Enron, David Port/Market Risk/Corp/Enron@ENRON, Mike Jordan/LON/ECT@ECT, Robert Soeldner/LON/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT Subject: Re: Authorised Traders : Montreal & Chicago Bjorn As discussed, given Joe's comments below, a note to confirm that this being dealt with internally. Rob Soeldner has made it clear to Joe that: Enron places great importance on trading controls. These are non-negotiatable. The suggested course of action is not an option We aren't seeking to close any of the Agency offices given implemetation of these controls. Joe is not in yet - Rob will be discussing with him further when the US gets in. Of note - Joe is on the commercial side, Marcelo Parra who is responsible for the operational side is fully onboard for the operational changes made. Regards Andy ---------------------- Forwarded by Andrew Cornfield/LON/ECT on 09/11/2000 11:07 --------------------------- Joe Robertson@MGUSA 08/11/2000 20:38 To: Tim Poullain-Patterson/LON/ECT@ECT cc: Andrew Cornfield/LON/ECT@ECT, Lloyd Fleming/LON/ECT@ECT, Marcelo Parra/NYC/MGUSA@MGUSA, Michael Farmer/EU/Enron@ENRON@ECT, Naomi Connell/LON/ECT@ECT, Robert Soeldner/LON/ECT@ECT, Sam Hainsworth/EU/Enron@Enron@ECT Subject: Re: Authorized Traders : Montreal & Chicago As a practical matter the procedures outlined are not workable. We need to find a way to go forward that works and can satisfy all concerned. Either the people in these offices can be entrusted to transact and execute business or we should consider closing these offices and relocating some of the people which I do not believe makes any sense at all. Joseph E. Robertson, Jr. Enron Metals & Commodity Corp. 520 Madison Avenue 28th Floor New York, NY 10022 Tel: 212.715.5254 Fax: 212.715-2357 E-mail: joe.robertson@enron.com
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