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Enron Mail |
Dear Cassandra,
In looking at the comments below there are several errors made buy us, one in the template itself, and some suggestions. At your request, we have started to prepare this in addition to the normal word violation/notification memos and our other work. As you have certain requests and requirements, it would be helpful for someone in your group to review it before it went out to ensure it meets your requirements. Please let me know if this is workable and who the reviewer should be. Thanks, Shona To: Michael Benien/Corp/Enron@ENRON, Chris Abel/HOU/ECT@ECT, Shona Wilson/NA/Enron@Enron, Daniel Falcone/Corp/Enron@ENRON cc: Veronica Valdez/HOU/ECT@ECT Subject: 12/5 Limit Violations and Notifications - Comments I realize this has already gone out, but I see a few errors that we should correct - and actually, I think we should call Skilling and Lay's (and Buy's) assistants (Veronica will handle this) and see if we can just hand deliver to them a corrected version early this morning, e-mail is OK for Ted, David and I. I have a few other suggestions on format/reporting changes as well. The NA Power VaR of $51MM was not 105% over its VaR limit of $50 - that would have been $52.5 to require a report to Skilling, (but if we had had to report it, don't use "WSCC", try to spell out or just don't use) UK Gas's VaR limit is not $4, it's $7.5MM I can't tie in UK Gas' QTD and YTD P/L - shouldn't it be what's on the DPR, adjusted for the portion of the structured derivatives that is gas - call over to that Yeo person and get the info. from them please The 2nd item for NA Gas shouldn't be listed like that as it looks like another violation - the comment re: the VaR increase was mean to go at the bottom under RAC comments The Finance Committe Chairman notification for Agg. VaR is not 100%, it's 115% (notification requirement box) EES had a VaR violation - $7.5 vs. 7 - that is a Skilling level violation Let's have the "Re:" say "Limit Violations and Notifications for December 5, 2000" Let's number them all sequentially rather than starting over at each level Veronica will call you to coordinate re-distribution. Going forward, we need to increase our level of review for these as they're getting a lot of scrutiny given market dynamics and our increasing risk. Thank you, Cassandra. ---------------------- Forwarded by Cassandra Schultz/NA/Enron on 12/07/2000 07:38 AM --------------------------- Michael Benien 12/06/2000 07:08 PM To: Kenneth Lay/Corp/Enron@ENRON, Rosalee Fleming/Corp/Enron@ENRON, Jeff Skilling/Corp/Enron@ENRON, Sherri Sera/Corp/Enron@ENRON, Rick Buy/HOU/ECT@ECT, Karen K Heathman/HOU/ECT@ECT cc: Cassandra Schultz/NA/Enron@Enron, Ted Murphy/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON, Chris Abel/HOU/ECT@ECT Subject: 12/5 Limit Violations and Notifications
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