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Enron Mail |
Ted,
We have had discussions about Barry in the past and I have followed-up on specific instances you have mentioned - I believe they date back to 1998 and prior to my first hand experience of working with Barry throughout 1999, and the people who raised concerns then acknowledge that the environment has changed since then. We are not so Barry-dependent. We have a team of quality risk management professionals as evidenced by the fact that it is the primary recruiting ground for the RAC team (David Port, Oliver Gaylard). Barry's role is much less hands-on now and he is not our candidate for the Global Products position - this will continue to be Kevin Sweeney. The role I suggest for Barry is the high level co-ordination of the operations team - his energy, enthusiasm and ability to execute on a plan, combined with his considerable institutional knowledge, making a superior candidate difficult to find. Frankly, I suggested Steve Young not for additional depth, but to address the relationship issue that clearly exists - I do not belittle this issue, and while I don't think that anyone can point to any "prosecutable" offences that Barry may have committed in recent history, his management style doesn't help to promote the view that he is totally impartial and objective. I will say that he has always been open and frank (very frank) with me - indeed if Mally and Sweeney had been as open we may have had a different story to tell on Helsinki. As an aside, I have not been involved in or consulted on the 'World Tour', although I know that Barry suggested this sort of thing to Sally a few weeks back. I think it is great that Brent Price is involved, but we would be happy to contribute staff to this too. Regards Fernley To: Fernley Dyson/LON/ECT@ECT cc: Rick Buy, Sally Beck/HOU/ECT@ECT Subject: Re: Trading Support Operations - London Fernley, As we discussed earlier this year, I have serious concerns about Barry that I think are both well-founded and reasonably well documented. To be fair, I will say that since Q1 of last year, I have not seen any FURTHER "prosecutable" offenses and he has made some attempts at being more communicative. However, I am clearly unwilling to stake my career on his transformation, particulary with as influential person as John Sherriff in charge of the office. Probably more to the point, it continues to concern me that London has not developed an operations team that is not so Barry-dependent. Evidence to this effect are, the fact that he is your only candidate for the Global Products position, that someone from Houston has to be part of the "World Tour" in Europe (Brent Price), that your candidates for a senior interim operations head in Helsinki was David Port or Richard Sage, and that your suggestion for additional depth is Steve Young. Further for the record, I believe that I am not the only one with whom Barry has a credibility issue - Arthur Andersen, other Global Products personnell, and other risk people in London have expressed similar concerns to me - I just happen to be the most vocal. Ted Fernley Dyson 02/08/2000 04:07 PM To: Richard Causey/Corp/Enron@ENRON cc: Rick Buy/HOU/ECT@ECT, John Sherriff/LON/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT Subject: Trading Support Operations - London Rick, Not wishing to delay the comprehensive review of our trading support function, particularly as it relates to our Global Products business, we already have Barry Pearce taking a lead in this area. The issue of concern is whether this should be an interim measure or a more permanent solution. Well - nothing is permanent in Enron and I think Barry understands this as well as anybody. If we had a more suitable candidate, we would give him/her the job. I have seen Barry develop and mature over the last 12 months along with the team that we have built around him. I'm convinced that he can add significant value by drawing the Global Products support functions 'in to the fold'. However, he clearly has a credibility issue with Ted in particular and, whilst I do not share Ted's views, I do not hold Barry out as a saint and I can see recurring problems if such a key relationship is not well grounded. I suggest that we continue to search for a candidate - known and trusted within Houston, who can instill confidence there. Steve Young (head of RAC in London) may be an interesting option, although I'm sure he would not be easy to replace. In the meantime we need Barry to take things forward and I will be monitoring the situation very closely. Regards Fernley.
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