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Enron Mail |
We need your help ASAP.
-----Original Message----- From: Chandler, Bob Sent: Tuesday, November 13, 2001 12:47 PM To: Fossum, Drew Cc: Hayslett, Rod; Saunders, James Subject: FW: ownership Importance: High We need your help ASAP. ENBT Delaware and Potomac Capital are shown in Secretariat as being owners of preferred stock in Organizational Partner, Inc. a wholly owned sub of Enron. Mike Moran had previously advised us that these entities were third parties and that they had 25% of the voting interest in Organizational Partner, Inc. After sifting through the layers of subs between NNG/TW and Enron Corp. we calculated that if we ascribe 25% "ownership" in Organizational partner to third parties, then Enron owns 99.5% of NNG and TW. On this foundation Mike Moran had advised us to refer to NNG and TW as majority-owned subs of Enron in our GAAP financial statements (notes) and FERC Form 2 filings. As per the note below, Andersen is trying to verify that the two preferred stock owners are indeed third parties, and not subs of Enron. Can you have some appropriate individual confirm this for us. Heather needs the info for Andersen's review letter associated with the Revolvers. -----Original Message----- From: heather.l.mueck@us.andersen.com@ENRON <mailto:heather.l.mueck@us.andersen.com@ENRON< Sent: Tuesday, November 13, 2001 12:15 PM To: Fossum, Drew Cc: Chandler, Bob Subject: ownership Drew - Bob Chandler said you were looking into the ownership structure questions. If ENBT Delaware and Potomac Capital are truly third parties and not Enron entities, I just want to make sure Enron does not control these entities, because if Enron does, then we should probably say "wholly" owned in our opinion rather than "majority" owned. Thanks for your assistance! Heather *******************Internet Email Confidentiality Footer******************* Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message (or responsible for delivery of the message to such person), you may not copy or deliver this message to anyone. In such case, you should destroy this message and kindly notify the sender by reply email. Please advise immediately if you or your employer do not consent to Internet email for messages of this kind. Opinions, conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it.
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