Enron Mail

Subject:FW: delainey discussions
Date:Thu, 31 May 2001 03:25:00 -0700 (PDT)

I'm getting really really tired. If the company's intent is for me to just
run a trading operation let me know.

-Original Message-----
From: Belden, Tim
Sent: Thursday, May 31, 2001 9:32 AM
To: Lavorato, John
Cc: Calger, Christopher F.
Subject: delainey discussions

highlights of my discussion with dave:
? he wants an "opportunity" to originate out of the ees positions. for
example, the harrah's deal generated approximately $16 million relative to
the mid, of which $4 went to ees. he wants a chance to back this deal with
his sourcing group.
? he was unable to offer any definition around what the word "opportunity"
means. one interpretation of "opportunity" is that they get a head start,
say three months to back a deal where neither west mm or west orig works on
that deal for three months. another interpretation is that west mm and west
orig aren't allowed to talk to certain wholesale customers, for example the
generators. both of these are bad ideas.
? i asked him why enron would want to keep its most talented origination
resources on the sidelines for any period of time in order to let the kid
brother (ees) have a "fair" chance at winning a deal. i also asked him if he
thought his crack squad could compete with the capabilities that we have
developed in the west. his answer was no.
? i told dave that as the manager of the retail risk book i don't care who
originates out of the transaction. my thinking is that i give a copy of the
harrah's contract to calger, foster, and delainey. whoever gets us out first
gets paid orig. if people want to coordinate then that's fine. if they want
to compete head to head then that's fine. speaking for portland, i would
expect that west mm and orig would coordinate.
? dave then said that he "gave" us the risk function and insinuated that we
owed him something in return. i indicated that i was willing to give it back
and return to my simple life managing the west wholesale trading desk if
that's what he wanted. i think he took offense to that comment.
? we hung up with no resolution. dave called me back and proposed that we
let anyone originate out of the position. however, the origination dollars
would go to ees profit center with the west mm or origination person getting
the credit for that. he talked about ees and the stock price and the billion
dollar business. my guys (i'm not speaking for chris here) don't care where
the origination dollars go to so long as they get paid for bringing value.
? i suggested that he work it out with you and that i would be looking for
direction from you.

i'm pretty sure that dave will characterize our conversation as though we are
in a agreement and that we are ready to move forward. i would say that we
agree that we need to get the best people originating out of these deals. i
would rather that the money for orig stay with whoever originated it. i can
live with a variety of outcomes. i'll sit tight and wait for direction from

-----Original Message-----
From: Lavorato, John
Sent: Thursday, May 31, 2001 5:44 AM
To: Vickers, Frank W.; Lagrasta, Fred; Tycholiz, Barry; Luce, Laura; Duran,
W. David; Calger, Christopher F.; Wolfe, Greg; Foster, Chris H.; Wolfe, Greg;
Belden, Tim; Presto, Kevin M.; Mrha, Jean; Baughman, Edward D.
Cc: Kitchen, Louise

Delainey and I started initial discussions reguarding EES and the customers
and products they plan to market. These were initial discussions. Dave is
writing something up to send to me. Before I agree on anything I will talk
to all of you. Some of the meeting that are happening may be a little