Third report on Helsinki office

Steve,
I am still a little out of it from my travels, but let me take a first shot
at my reaction to this:
I think we ought to at least challenge the notion that the mark-to-market
exposure is so arcane as to be dismissed. Generally, time is of the essence
in most contractual relationships and the value of that time should take into
account both time value of money and the value of the underlying at critical
times.
I think that RAC should be deeply involved in setting negotiating strategy
and be part of any decisions made.
I will add to this if and when the haze clears up.
Ted
---------------------- Forwarded by Ted Murphy/HOU/ECT on 02/20/2000 04:15 PM
---------------------------

Robert Quick
02/18/2000 11:11 AM
To: Michael R Brown/LON/ECT@ECT
cc: John Sherriff/LON/ECT@ECT, Rob Walls/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Steve W Young/LON/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT
Subject: Third report on Helsinki office

Michael, here is my third report. The password is green.

The Appendices are also attached and the password for them is grey. tks

Robert