Mr. Skilling has reviewed your communications and has determined that Enron
is not interested in pursuing at this time. Thank you for the opportunity.
Assistant to Jeff Skilling
Lance Stuart <LStuart@erehab.com< on 01/28/2000 07:56:14 PM
To: Jeff Skilling/Corp/Enron@ENRON
cc: Cory Christensen <CChristensen@erehab.com<
Subject: Follow-up re: e-rehab
Just a quick update and follow up to my previous e-mail.
My colleague, Cory Christensen (another McKinsey alum), and I met with IBM
regarding a potential strategic relationship. That meeting went far better
than expected. A similar document to the one I sent to you has now reached a
number of their senior executives. Tom Bouchard, SVP of Human Resources, for
example, reacted by saying, "They're (e-rehab) addressing a huge problem. I
would love to talk to them." one of their senior healthcare VPs stated,
"This is exactly the kind of thing IBM would like to do. This is not the
only big thing we're looking at, but this is definitely big. It's right on!"
The table has turned. IBM is now pushing us with information requests and to
move the process along.
We told IBM that e-rehab is most interested in them as a customer, as is the
case with Enron and another half dozen blue-chip companies with which we
have initiated a dialogue. However, because IBM has come to recognize the
relevance and potential value we can deliver, they are now keenly interested
in becoming a minority investor (assuming that we clear their due diligence
The meeting with IBM last Friday was in Stamford Connecticut so I arranged a
meeting just prior to that with Steve Denning in Greenwich. Our visit was
meant to be purely social, but Steve reacted quite positively to our
business and would be interested in considering an investment by General
Atlantic Partners (GAP) if we sign up an IBM ... or one or more companies of
similar stature, such as Enron. Aside from GAP and our current investors, we
are not considering traditional funding sources. GAP is an exception because
of their potential non-monetary value-added.
In any case, the purpose of this note is to solicit a reaction to my earlier
e-mail. In other words, would Enron have an interest as a potential (early
adopter) customer and/or strategic investor? I would not have approached you
in the first place unless I was convinced that our services would be of
great benefit to Enron. If you have an interest in exploring this
opportunity, I'd like to determine and schedule next steps. I apologize. I
don't mean to be pushy, but I'm anxious and feel a great deal of urgency.
I'll place a call to your office next week to get a read on your
temperature. Look forward to getting a response.
949-488-8820 ext. 238