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Enron Mail |
huh? Gary booked almost nothing on this from what i can see. who forced what? I asked hickerson and zufferili to get me details.
-----Original Message----- From: Lavorato, John Sent: Monday, October 22, 2001 2:12 PM To: Shankman, Jeffrey A. Subject: RE: Currency Hedging they forced him to trade on Friday. I want my money back -----Original Message----- From: Shankman, Jeffrey A. Sent: Monday, October 22, 2001 1:29 PM To: Lavorato, John Subject: RE: Currency Hedging I don't have all the facts to agree or disagree. Until John Z has approval to trade currency, I wouldn't think you would want to go down this path. In addition, I'm sure you know hegding currency this big and late of Fridays is tough. -----Original Message----- From: Lavorato, John Sent: Monday, October 22, 2001 11:50 AM To: Shankman, Jeffrey A. Subject: FW: Currency Hedging By the way, I agree with Zufferli on this. -----Original Message----- From: Zufferli, John Sent: Monday, October 22, 2001 11:46 AM To: Hickerson, Gary; Stuart III, William; Lavorato, John; Milnthorp, Rob Subject: Currency Hedging Given the volatility in the gas market (which is the sole impact on the Canadian power book's US dollar exposure) and the exhorbitant cost involved in hedging multi-year cashflows (i.e. as evidenced by Friday 10/19/2001 trade of -$1,200,000 Cdn new deal value for the 14 year swap that I entered into), I will manage the currency exposure of this book myself, I will hedge appropriately when I see fit and will not accept hedges forced on Enron Canada because of arbitrary position limits set by your department. John Zufferli
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