Revised Cover Memo ,
 John and Louise,
 
I have taken John's draft and added a few thoughts, including the issue of what happens if there is not a new agreement with counterparty (the Enron agreement remains in effect), the possibility that the new entity may not hire everyone, and the concept that they transfer to the new entity upon closing.
 
Let me know your thoughts.
 
Michelle
john.lavorato@enron.com, louise.kitchen@enron.com