I just wanted to pass you a note on these guys, since we had you call Bob Nardelli a couple of months ago to see what we could get going. Home Depot issued and RFQ and we responded with a non-conforming bid. We have, however, been chosen to exclusively negotiate with them (beat out Reliant and TXU) for their energy spend west of the Mississippi. We are focusing on a spend of about $50mm a year. We are also looking to help them with some of their problems in California, They entered into a number of 1-2 year deals with third party providers that were brokered for them by SRI and as they expire, they don't want to go back to the utilities.
Just wanted to let you know that we are making progress, and at the right time I may ask you to make another call to Nardelli.
- I also have hooked up with Liz Flynn at Chase. She is an executive vice president and reports directly to Shapiro. She will look to me as the senior Enron contact for our deal and is aware and supportive of the corrective actions we are taking as well as the need for some restructuring.
- As you know, we have recently closed 3 deals with Sam Zell's Equity Office Properties. We did 5 year deals for their Chicago, NY and Boston based properties. We are in the midst of looking at other regions as well as negotiating a term sheet for an off-balance sheet partnership that would perform DSM and look at Distributed Generation opportunities at their properties. I think it would be great to have you call Sam and say how great it is that we were able to begin doing business together. I will send sheri a note with his number and some deal details if that is acceptible to you.