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Enron Mail |
Missed your call today and I will be in RAC PRC all day tomorrow. Basically
Jeff said we must get this exposure down but gave no parameters to the statement. He did ask if any recent issue is causing us concern to which we said no, and I also said we know more about this company than any other exposure we have (which we should). I also spoke with M. Kopper today and he thinks the proposed deal w/ TXU to pay slightly more for a plant with the proviso that we get a cleaner contract is a good idea, rather than paying a lot of money to an investment bank. Moral of story in my opinion is to try and improve deal structure with TXU through the plant purchase or other structured deal. Do no more (large) deals with TXU that significantly increase credit exposure ($10mm??) unless we buy a derivative that reduces exposure simultaneously. Continue to stay on top of TXU with frequent meetings with their management to maintain a close relationship with good communication. Lets try and discuss Wed if possible.
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