Enron Mail

From:peter.keohane@enron.com
To:elizabeth.sager@enron.com
Subject:Master Agreements - Cherry Picking
Cc:mark.haedicke@enron.com, william.bradford@enron.com, jeffrey.hodge@enron.com,shari.stack@enron.com, greg.johnston@enron.com
Bcc:mark.haedicke@enron.com, william.bradford@enron.com, jeffrey.hodge@enron.com,shari.stack@enron.com, greg.johnston@enron.com
Date:Mon, 13 Nov 2000 06:58:00 -0800 (PST)

Elizabeth, I am responding to your voice mail that today's meeting is
canceled. I agree with your suggestion that you, Mark, Jeff, Bill and Shari
can come to a conclusion and just let us know.

I believe the issues come down to:

1. risk of intentional default by our counterparty

2. risk of unintentional default by us

3. what the market is doing

As agreed at our last call, I reviewed the issues commercially here, and I
believe the commercial preference is to maintain cherry picking for the
reasons in 1 above. Please let Greg and mw know what is decided.