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Enron Mail |
---------------------- Forwarded by Mike Jordan/LON/ECT on 30/01/2001 18:57
--------------------------- Enron Europe From: Naomi Connell 29/01/2001 16:28 To: Mike Jordan/LON/ECT@ECT cc: Subject: Metals Recycling action FYI ---------------------- Forwarded by Naomi Connell/LON/ECT on 29/01/2001 16:32 --------------------------- Enron Europe From: Naomi Connell 29/01/2001 16:28 To: Fernley Dyson/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT cc: Joe Gold/LON/ECT@ECT Subject: Metals Recycling action I have discussed further with Joe. Update on African deal We are still awaiting confirmation on the background checks for the counterparty - it seems unlikely that there is any link to government agencies. There is no proof that the Recycling management in Hamburg gave any direct authorisation on this deal. They do not see anything particularly wrong with it either - to them this is completely different to the Indian deals as they were not involved with preparing the documentation, merely accepting it from a third party. They see the car purchase (second hand Toyota) as a simple payment mechanism rather than a bribe. The instructions that they gave to their team in October was to cease all of the Indian deals - they seem not to have applied an ethical motive to this, but more a specific dictate covering India. Doug Imrie is currently reviewing all other international deals and is working through with Stephan Scheppler (the Manager of the Frankfurt office), what will and will not be acceptable going forward. A list of written instructions will be issued following this review. We do not believe that any action against Stephan Scheppler will help to achieve anything in terms of improvement in management going forward. Under German law it would probably be very difficult to prove that he has acted against instructions (indeed he does not seem to have received the right instructions). We do believe that to tighten the top management organisation would provide a firm and clear message to the management: We can do this in two ways: 1. To nominate Matz Heil (previously Bergman) to lead the 4 person management team (currently they are all equal and have individual approaches) 2. To have him reporting directly into Rob Soeldner in order to give the commercial direction an Enron approach. Joe will take steps to implement this when he returns from NY at the end of this week. At this point we will communicate the action to Houston. Naomi
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