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Enron Mail |
Tracy, our current forecast includes a gross bonus accrual of $13m for the
full year (Note that a portion of this amount is capitalize through our labor loading process - about 33%). This is significantly below our target level for the year ($16.5m) and last year's actual payout of $16.7m. We reduced these amounts based on our lower that expected performance in Q3 that we've been discussing. Early this year we we're accruing at a maximum amount of $17.6 since our forecasts looked better at the time. Here' s the layout of how this falls by quarter in the forecast: Q1 - $4.4 Q2 - $4.4 Q3 - $1.0 (forecast) Q4 - $3.2 (forecast) $13.0 Based on how Q4 results look, we will reassess our accrual levels at that time. Let me know if you have any questions. <<< Geaccone, Tracy 09/19/01 10:46AM <<< I only need bonus data. Don't worry about 4Q data today. Please send directly to me. Thanks -----Original Message----- From: Schwarzbach, Stephen Sent:Tuesday, September 18, 2001 5:56 PM To:Killen, Faith; Geaccone, Tracy; Smith, Stephanie; Davoli, Jim; Tran, Agatha; Lee, Dana; West, Terry Subject:URGENT REQUEST Hello everyone. Management has begun to look toward the 4th quarter and is requesting certain information from each business unit. I need to know, by 10:30am Wednesday: a. Total bonus accrual for 2001 b. Amount of bonus accrual that is (or will be) accrued YTD through September 2001 c. Amount remaining to be accrued in 4th Qtr 2001 Additionally, each CAO* has been asked to compile a list of potential hurdles/challenges/clean-up items for the 4th Qtr. that will be discussed at an offsite this week. You may want to touch base with them and make sure they are aware of this and come prepared. I have sent a reminder message to them today also. Thanks, Steve *with the exception of EGEP (Jim call me if you want to discuss) PS - Faith and Tracy - I'm assuming you guys will coordinate for wholesale and stan's world respectively. If you'd like me to contact any group directly, let me know.
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