ok; will call you in about 15 minutes. I am on with Scott right now & will
see if he is also available.

> -----Original Message-----
> From: Sara.Shackleton@enron.com [SMTP:Sara.Shackleton@enron.com]
> Sent: Wednesday, February 07, 2001 6:52 PM
> To: schernick@bear.com
> Subject: RE: enhanced stock loan
>
>
> How about 9 am Houston (10 am New York)?   Why don't you call me?  It
> might
> be helpful for Scott to be available (we could conference him in if
> necessary).  Let me know if this works.  SS
>
> Sara Shackleton
> Enron North America Corp.
> 1400 Smith Street, EB 3801a
> Houston, Texas  77002
> 713-853-5620 (phone)
> 713-646-3490 (fax)
> sara.shackleton@enron.com
>
>
>
>
>                     "Chernick,
>
>                     Sharon               To:
> "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>
>                     Confidential         cc:
>
>                     Memo-Counsel         Subject:     RE: enhanced stock
> loan
>                     (Exchange)"
>
>                     <schernick@be
>
>                     ar.com>
>
>
>
>                     02/07/2001
>
>                     05:34 PM
>
>
>
>
>
>
>
>
>
> I will call you in the am.  I am free until 11:30 NYT. What works for you?
> Do you want a business person like Scott Talento on the line with us?
>
> > -----Original Message-----
> > From:   Sara.Shackleton@enron.com [SMTP:Sara.Shackleton@enron.com]
> > Sent:   Wednesday, February 07, 2001 2:44 PM
> > To:     schernick@bear.com
> > Subject:     Re: enhanced stock loan
> >
> >
> > Sharon:
> >
> > I'm on my way out of the office for an appointment but will be back
> around
> > 4 or 4:30 Houston time.  I'd like a quick chat this evening or tomorrow
> > morning (before 11 am Houston, if possible).  I understand that the
> > dynamics of this deal were discussed by Russ and Jeff Kinneman/Sheila
> > Glover.  The Enron party is Enron North America Corp. ("ENA", formerly
> > named "ECT") and the $25million Enron Corp. guaranty is for the purpose
> of
> > securing payment of the 20%plus margin requirement for  illiquid
> > securities
> > held by ENA in its Bear account ("stock loan account").  I'm not sure if
> > other agreements are necessary and I was hoping that we could discuss.
> >
> > Feel free to email or call.  Thanks for your help.
> >
> > Sara Shackleton
> > Enron North America Corp.
> > 1400 Smith Street, EB 3801a
> > Houston, Texas  77002
> > 713-853-5620 (phone)
> > 713-646-3490 (fax)
> > sara.shackleton@enron.com
> >
> >
> >
> >
> >                     "Chernick,
> >
> >                     Sharon               To:
> > "'sara.shackleton@enron.com'" <sara.shackleton@enron.com>
> >                     Confidential         cc:     "Talento, Scott
> > (Exchange)" <STALENTO@bear.com>, "Miron, Russel
> >                     Memo-Counsel         (Exchange)" <rmiron@bear.com>
> >
> >                     (Exchange)"          Subject:     enhanced stock
> loan
> >
> >                     <schernick@be
> >
> >                     ar.com>
> >
> >
> >
> >                     02/07/2001
> >
> >                     01:17 PM
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Sara:
> >
> > I have made some inquiry and verified that the Bear Stearns Stock Loan
> > enhanced leveraged product is indeed what is under consideration.
> >
> > As promised, I have a brief step-by-step  explanation of such a stock
> loan
> > transaction, which is appended to this message.  There are actually two
> > possible scenarios: one where cash collateral is used for the stock
> loan,
> > the other where actual securities are used as collateral.  We understand
> > that, at least initially, you will be using bonds as collateral.
> >
> > The Stock Loan Agreement is used in connection with our current form of
> > Institutional Account Agreement which ECT may not have signed.  I
> > therefore
> > also append that agreement to this message.
> >
> > I expect you waill wnat to review these attachments before we speak
> again.
> > Again, as a reminder, I will be on vacation from Friday the 16th through
> > the
> > following week.  If you would like to speak before hand, or if you have
> > any
> > questions regarding any of the documents, please let me know.
> >
> > Regards,
> >
> > Sharon
> >
> >  <<Enhanced Stock Loan-explained.doc>>
> >
> >  <<IAA_ 9-8-00rev_clean.doc>>
> >
> > (See attached file: Enhanced Stock Loan-explained.doc)
> > (See attached file: IAA_ 9-8-00rev_clean.doc)
> > ***********************************************************************
> > Bear Stearns is not responsible for any recommendation, solicitation,
> > offer or agreement or any information about any transaction, customer
> > account or account activity contained in this communication.
> > ***********************************************************************
> >
> >  << File: Enhanced Stock Loan-explained.doc >>  << File: IAA_
> > 9-8-00rev_clean.doc >>
>
>
> ***********************************************************************
> Bear Stearns is not responsible for any recommendation, solicitation,
> offer or agreement or any information about any transaction, customer
> account or account activity contained in this communication.
> ***********************************************************************
>
>
>


***********************************************************************
Bear Stearns is not responsible for any recommendation, solicitation,
offer or agreement or any information about any transaction, customer
account or account activity contained in this communication.
***********************************************************************