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Enron Mail |
Gary:
Thanks. I will take a look at this and get back to you shortly. Carol Gary Taylor 06/28/2000 11:16 AM To: Carol St Clair/HOU/ECT@ECT cc: Subject: Bombardier memo Carol, I left you a message last week regarding the enclosed letter. You asked to see a copy... Background: Enron and Bombardier developed a promotional campaign to help sell snowmobiles. Retail customers who purchased snowmobiles from various retail vendors by October 1 were eligible for a $1,000 rebate from Bombardier if the subsequent November-March snowfall was less than 1/2 the average of the previous 3 years. In October, Bombardier reported to us the number of snowmobile sales in each city covered under our program and paid us a predetermined premium for each unit sold. In return, Enron was liable for potential payouts in each of the cities covered under the program (different payouts in each city depending on the number of Bombardier units that were sold in each city). The settlement date for the program was June 14 - allowing for true-ups by the various weather services. As of this date, we were responsible for payouts in 6 cities. We sent prompt payment to Bombardier. Current Issue: Bombardier has requested that we send a letter to to them, on our letterhead, specifying the actual Nov-Mar snowfall amount in each city covered under our contract with them. They plan to forward this letter to the stores that sold Bombardier snowmobiles under this program. The impetus for this letter is that some customers in cities where snowfall exceeded the strike (no rebate payments due to customers) thought/think that they may be entitled to a rebate. Here is the letter: Of course, I am waiting for your response before I send this letter out. Regards, Gary Taylor x31511
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