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Enron Mail |
I just got changes from Anil that showed me the message I sent last night did
not pick up my final version of the document for some entirely bizarre reason (perhaps I had the file open when I attached the document and it only sent the most recently saved version?).? Here is the file again - please review and let me know if okay to finalize. Sorry for this confusion! Carolyn M. Vavrek Manager - Human Capital Advisory Services Deloitte & Touche 50 Fremont Street San Francisco, CA? 94105 phone: 415-783-5137 fax: 415-783-8760 e-mail: cvavrek@deloitte.com -----Original Message----- From: Mark Guinney [mailto:Mark_Guinney@watsonwyatt.com] Sent: Thursday, February 08, 2001 6:27 AM To: Jeff.Dasovich@enron.com; cvavrek@deloitte.com Cc: asama@yahoo.com Subject: Re[2]: Home Depot Memo - Revised I don't think it frees up any money.? The footnote is only indicating that they have $50 million in lease obligations for the upcoming year.? I may be missing something but what this would potentially affect is the asset turnover and leverage ratios since non-capitalized leases are off-balance sheet items and so don't get included in the Total Assets category. ********************************************** Mark D. Guinney, CFA Consultant Watson Wyatt Investment Consulting 345 California Street, Ste. 1400 San Francisco, CA? 94104 (415) 733-4487 ph. (415) 733-4190 fax ____________________Reply Separator____________________ Subject:??? Re: Home Depot Memo - Revised Author: Jeff.Dasovich@enron.com Date:?????? 02/08/2001 11:13 AM Gang: Quick question.? Does the lease-buy-back free up $50M of funds for 1987? Mark, is that captured in the 1987 cash flows?? Don't think that should change our recommendation, but ran across it in the case and was wondering if we captured it. Best, Jeff - This message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law.? - If you are not the intended recipient, you should delete this message and are hereby notified that any disclosure, copying, or distribution of this message, or the taking of any action based on it, is strictly prohibited. ? ? - memo on home depot.doc
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