RE: Time Warner

So was his angle, the shareholders should take the $175 and run?

Dylan Windham <dwindham@uclink4.berkeley.edu<
05/01/2001 11:39 AM

To: "Guinney, Mark" <Mark_Guinney@watsonwyatt.com<,
"\"Jeff.Dasovich@enron.com\" " <Jeff.Dasovich@enron.com<,
"\"JcjCal02@aol.com\" " <JcjCal02@aol.com<
cc: "\"guinney@haas.berkeley.edu\" " <guinney@haas.berkeley.edu<,
"\"jjackson@haas.berkeley.edu\" " <jjackson@haas.berkeley.edu<
Subject: RE: Time Warner

Remember, we wrote it from the selfish standpoint of the Time CEO.

At 09:14 AM 05/01/01 -0400, Guinney, Mark wrote:
<Seeing as our recommendation in the memo was counter to everything our
<beloved
<professor supported, it will be interesting to see how he grades us on this
<one.
<
<**********************************************
<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