Enron Mail

To:darron.giron@enron.com, phillip.love@enron.com, kam.keiser@enron.com,jeffrey.gossett@enron.com, o'neal.winfree@enron.com
Subject:RE: Star VPP
Date:Mon, 14 May 2001 00:38:00 -0700 (PDT)

FYI ... Pam Becton had a problem with when Starr VPP showed up on the GL ...
here is Whiting's meeting notes with her.
---------------------- Forwarded by David Baumbach/HOU/ECT on 05/14/2001
07:34 AM ---------------------------
From: Greg Whiting/ENRON@enronXgate on 05/04/2001 11:40 AM
To: David Baumbach/HOU/ECT@ECT
Subject: RE: Star VPP

Met with Pam and here is the deal. Pam wants the P&L for the April deals to
show up in May GL. What I suggested to her was that rather than do anything
for the deals in risk or Portfolio that Pam defer the P&L on her company and
release it the next month. This keeps things normal in our worlds and Pam
controls when she sees the P&L on her company. She has agreed to do this.

There will be a new twist starting in July. Starr is supposed to become 3rd
party and the payment date is supposedly two months after the fact. Pam is
checking with legal to see if there is to be a complete unwind and rebooking
because of structure changes to make the deal 3rd party or if we can just
change the counterparty on the deals. I'm sure we will be the last to know
as usual.

Greg x35399