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Enron Mail |
For all that have missed the floor meeting, we have been downgraded to "junk" status, ending our merger plans and crushing our stock price. A likely scenario would have us declaring bankruptcy within a few days. Payroll is said to be funded until the end of the month, at least. If bankruptcy is filed, payroll should be covered. Another very real option is that the trading floor could be parcelled and sold to an outside company. There are discussion underway that deal with this possibility. Currently, we are not trading. We need to continue to report to work and keep a log of Real Time prices. Continue to update the Hourly Prices sheet for a record of prices. We may need these prices as support for liquidated damages. More counterparties will be defaulting and cutting schedules. Please make note of such cuts and prepare to bill LD's. We have prepared a cut log for this purpose. JMF
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