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Enron Mail |
Richard,
I attended the deposition of Michael Watchorn, a bond fund manager at Oaktree Capital, on August 1, 2000.? Dan Lefler representing SDI? took the lead, and was primarily interested in how Watchorn's group and Oaktree determine whether to invest in a company or not.? Lefler focused on Watchorn's experience in valuing steel mills, and what Watchorn looked at to determine whether it was a good investment.? Specifically, Lefler brought up what Watchorn analyzed and for what purpose, i.e. EBITDA determine the gross cashflow in the company and lays out the over all costs of the company. Watchorn only attended the road show because K. Murphy at Natwest invited him and told him that Busse would be there.? Busse ultimately did not come.? Watchorn is in the bond group and only invests in N. America, so he was not interested in investing in the steel mill.? He remembers attending the road show, but he did not know who the presenters were, he didn't read the preliminary offering memo, the supp. offering memo or the final, and he never received them.? He didn't discuss the road show with anyone.? Watchorn seemed like a very bright guy.? The only interesting part of the depo. was when Natwest was clearly trying to get Watchorn to say that Natwest did not call up to solicit Watchorn to attend the road show.? Please call me if you have any questions.? This e-mail message may contain legally privileged and/or confidential information. If you are not the intended recipient(s), or the employee or agent responsible for delivery of this message to the intended recipient(s), you are hereby notified that any dissemination, distribution or copying of this e-mail message is strictly prohibited. If you have received this message in error, please immediately notify the sender and delete this e-mail message from your computer.
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