Sato MOU and Deal List

Mike/Jeff,
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Jeremy will be sending you the updated internal deal list to give you a fee=
l for the types of things we are working on and where we stand. We'd like =
to discuss this further with you. I think you will see from the types of t=
ransactions and the relative value that the 2002 plan numbers are not unrea=
listic. However, in order to achieve these numbers will require some stron=
g support from Houston and additional expat staff. We have focused on reas=
onableness of the size of transactions that we are seeing to date and what =
we would additionally plan to see. We have also focused on trying to do mo=
re with less (Sato proposition) and shooting for just north of break even. =
Additionally, I am under the belief that you are stretching all of the gro=
ups and anything less than covering costs would not be acceptable. While S=
ato would not be required to achieve these numbers, it would certainly be e=
asier with them. (... don't mean for this to be interpreted that we should=
have higher numbers with Sato...).
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Sato:
We'd like to set a time to speak with you about Sato MOU your Thursday (our=
Friday). Our 0730 is your 1730. Would this work for you? =20
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Joe