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Enron Mail |
Anthony,
As always, thank you! Sorry for the confusion on the spreadsheet, I know they were not duplicate contracts, but that the contract numbers were duplicated on the report (meaning multiple counterparty names riding on the contract) - - - - sorry for being so vague. Did you encounter any problems on the physical side? Thanks again!! Cyndie Enron North America Corp. From: Anthony Campos @ ECT 05/16/2001 10:03 AM To: Cyndie Balfour-Flanagan/Corp/Enron@ENRON cc: Susan Elledge/NA/Enron@Enron, Bridgette Anderson/Corp/Enron@ENRON, Sharon Gonzales/NA/Enron@ENRON, Sylvia A Campos/HOU/ECT@ECT, Marlene Hilliard/HOU/ECT@ect, Stacey Richardson/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Bill D Hare/Enron@EnronXGate, Stacy E Dickson/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT Subject: Re: Division/Tradename Audit (part deux) Cyndie, 95000243 - Transammonia, Inc., acting through it division Trammochem (actual name on Master); Trammo Gas, a division of Transammonia, Inc. (division allowed to trade per Legal); Trammo Gas & Petrochemicals Company (division allowed to trade per Legal) Note: To your indication of both Trammo Gas records labeled "duplicate contract" - are in fact NOT duplicates of the Transammonia Master. Under no circumstances should anyone assume a Financial Global record is a duplicate without verifying with Georgi, myself, or Tana Jones and her Financial team. 96043502 - Cargill Incorporated (actual name on Master); Cargill Energy, a division of Cargill, Incorporated (division allowed to trade per Legal) 96045659 - Northern Illinois Gas Company d/b/a Nicor Gas Company (actual name on Master) Nicor Gas Company (name agreed to trade by GCP and Legal) 96030588 - Ashland Specialty Chemicals Company (This record is an OnLine GTC, name was given per Bob Bowen) Please let me know if I may be of further assistance. Thank You, Anthony 3-7911 Cyndie Balfour-Flanagan@ENRON 05/15/2001 02:39 PM To: Susan Elledge/NA/Enron@Enron, Bridgette Anderson/Corp/Enron@ENRON, Sharon Gonzales/NA/Enron@ENRON, Anthony Campos/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Marlene Hilliard/HOU/ECT@ect cc: Stacey Richardson/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Stacy E Dickson/HOU/ECT@ECT Subject: Re: Division/Tradename Audit (part deux) Okay folks. We are starting in on the Division/Tradename audit (our side of the equation). As it stands, we are not going to terminate any existing contracts with counterparties that are classified as "Division" or "Tradename". However, what we are going to do is to verify that the name on any existing master contracts matches the name as it exists in the Global Counterparty database. So, what we need to do is to view all of the attached master contracts (please note that the attached spreadsheet has 3 tabs: Physical, Financial & Transportation) and verify how the names are listed on the contract & how the counterparty executed the contract. Please email me any differences you come across. Remember - - - - watch for name change notices, assignment notices, etc while reviewing these contracts. Anthony: Since Georgi is out would you mind verifying the Financial contracts (only 4)? Sylvia/Marlene: I know that in many cases your records won't have master contracts or actual paper; however, there is a tab for transportation related contracts & many of them are status "executed". Where at all possible, please verify counterparty names - - - - primarily, any changes made on the financial or physical side can impact any executed agreements we may have on the transport side (name might be one way on a phy contract & another way on a transport contract). Then we can at least make sure that changes won't negate anything we have on either side. Please try to get this done as soon as possible. I'd like to have all variations by end of the day tomorrow (Wednesday, 5/16/01). If you are working on something else at the moment - - - - please let me know & I'll add the contracts to my list to review. This project is fairly important & we need to wrap it up as soon as we can. Thank you all!! Cyndie Stacey Richardson@ECT 05/15/2001 11:04 AM To: Cyndie Balfour-Flanagan/Corp/Enron@ENRON cc: Linda S Bryan/HOU/ECT@ECT, Kim S Theriot/HOU/ECT, Bill D Hare/HOU/ECT@ect, Stacy E Dickson/HOU/ECT@ECT Subject: Re: Division/Tradename Audit (part deux) Oh yes, this will be a choice project... So Credit or Legal hasn't requested the number of deals attached to any of those contracts? I assumed that would be part of the original evaluation. I'd be concerned with which of those masters we're trading under now as well as how many deals, volume, etc. Once you hear from Legal and we have an idea of what needs to be done, then let's all set up a meeting to discuss within Global Contracts. We can then follow up with Credit and Legal at that point. Just keep us posted! Thanks, SBR Cyndie Balfour-Flanagan@ENRON 05/15/2001 10:54 AM To: Stacey Richardson/HOU/ECT@ECT cc: Linda S Bryan/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Stacy E Dickson/HOU/ECT@ECT Subject: Re: Division/Tradename Audit (part deux) We really don't have anything to divide until Legal decides if it is a 'contract/legal' issue or a Credit Business Process issue. Stacy Dickson was checking with Jeff H. to see what their position was on it. If it does come down to a "kill" the record scenario - - - the fastest way will probably be to do a mail merge format letter from list to create termination letters where necessary or mail merger to create amendments (adding additional counterparty names to existing master contracts). However, I have a feeling it won't be that easy & will come down to a business process challenge instead. For us, if it comes down to it, I think the big issue will center around GTCs (at least with Master contracts you have, or usually have, better default/remedies & have a fairly good chance at either a security provision or a collateral provision existing in the contract) . We can potentially end up with multi layer GTC records where we do not have master contracts. This will be the only way to guarantee that new GTCs (especially GTC Spots which are 'masterized') from being generated. Even then, it can't be a 100% guarantee since I can't see ENA stopping customers & traders from executing transactions with CPs other than the 'parent' company - - - - we may have to look more closely at the CP set-up info share with GKs (we will have no controls to prevent GTCs or Master contracts from being established with CPs established as Division, Tradename, ect..... unless we want to commit to checking the CP database before we establish a new contract record (master K or GTC)). Then, is the GCP group ready to be 100% accountable for how they have been & are now classifying the CP records (headquarters, division, tradename, ect.) & are the current records 100% accurate. With all the turnover (contractors) and the CES scenarios, I'd say it would be impossible to have done a 100% double check on all the records (we are even still weeding out & cleaning up data in our system). THEN, how do we want to handle the records classified in the GCP database as "New - Needs DnB" which are records that have not had their status established in the database yet ????? Either way, much fun lies ahead for this one. Cyndie Stacey Richardson@ECT 05/14/2001 10:01 AM To: Cyndie Balfour-Flanagan/Corp/Enron@ENRON cc: Linda S Bryan/HOU/ECT@ECT, Kim S Theriot/HOU/ECT, Bill D Hare/HOU/ECT@ect, Stacy E Dickson/HOU/ECT@ECT Subject: Re: Division/Tradename Audit (part deux) When Linda gets back in, let's all meet on how to split this up and run the Sitara reports. I'd like to get a total as soon as possible for Credit and Legal. I'm not sure how you want to divide the work, but considering the potential exposure with Credit, I think this should be the top of our priority list. However you want to run this project is OK with me, but let's get everyone working on this one. Thanks! SBR Cyndie Balfour-Flanagan@ENRON 05/11/2001 03:16 PM To: Linda S Bryan/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT cc: Stacey Richardson/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Stacy E Dickson/HOU/ECT@ECT Subject: Division/Tradename Audit (part deux) Okay, Fred re-ran the report to pull all maintenance groups. Instead of splitting into two separate reports - - - the attached report has three tabs. The first tab shows ALL active Global records for ALL Global Maintenance Groups, the second tab shows only 'our' maintenance groups (Hougas, Aruba & Financial-North America), and the third tab runs a subtotal on all maintenance groups. In total there are 473 global records tied to counterparties that have a Division or Tradename classification in Global Counterparties & 186 for 'our' maintenance groups. Please let me know if you have any additional report 'views' you would like to be included (data sort or subtotaled by counterparty, by contract type, ect....). Fred is running a report against the list we received today for all counterparties classified as "Agent" in Global Counterparties. I should be able to have this report to you all on Tuesday as I will be out of the office on Monday.
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