Catch Up ,
 I got the message that you couldn't meet this afternoon.  Thought I would do 
a quick note to bring you up to date on some things. 

Commercialization Efforts- Services:  Delayed by several days due to the 
unexpected absence of Mary Solmonson for health reasons.  I learned about 
this when I returned to the office on Tuesday, and have worked to replace her 
as best we can during this market sizing phase.  Jennifer Denney (who was in 
Dallas with us and works under Sheri Thomas in the EOL Product Control Group) 
will partner with James Scribner in Mary's absence to help us run down 
additional data on potential customers.  Beth Apollo will be working closely 
with James and Jennifer.  They will welcome Rahil's help and will continue to 
work with Jennifer on developing the revenue model.  

Commercialization Efforts - Consulting:  Bjorn Hagelman in the RAC group made 
a presentation at the Risk Forum luncheon last week outlining a plan for 
providing risk consulting services to external customers.  Some of his ideas 
overlap the ideas around consulting that we fleshed out in our Dallas 
meeting.  Some of his ideas included providing services from my risk 
operations team.  I want this to be a concerted and not disjointed effort.  
Bjorn's vision is to create an Enron sub that will be the consulting 
company.  Our team in Dallas saw wisdom in partnering with an 
accounting/consulting firm - established marketing arm, existing customer 
contacts, proven consulting skills, depth of resources, etc.  There could be 
a play to get a hefty sum up front from a consulting firm to partner with us 
- we impart our risk knowledge, they get the edge in the marketplace from 
pairing with us, we take our upfront payment, they do most of the grinding 
work - not necessarily a bad model.  Bjorn seems to be in a hurry, as he has 
identified a shipping company in Europe that is in need of risk consulting 
and is ready to pay.  Probably okay for him to start this effort in that 
way.  Prove concept, and then we can consider the wisdom of partnering with 
someone else.  I spent some time with him today.  I want to be sure that he 
doesn't commit my team to provide a service without our understanding and 
being in agreement with the fee structure.  We are okay for right now.  I 
will be following what Bjorn is doing and looking for ways to work together 
if there is a good upside.  I will keep you posted.  

Commercialization Efforts - Internal Marketing:  We have to change some 
business practices within Enron and create a mind shift when originators are 
selling operational services to their customers.  We must price those and we 
must have a mechanism for granting the appropriate income to Operations.  
Deal is in the works through power origination team - they priced our 
services to customer without our involvement- pricing may not even be 
sufficient to cover our costs.  We are researching.  To do's here are to 
create an internal marketing document to review with lead originators and to 
change DASH process so that Operations has a sign-off.  I met with Louise 
today on this.  I will plan meetings with origination teams during the week 
of March 19.  Would love to get your input on our presentation to the orig 
teams.  I will get you a draft for your comments. 

Operational Risk:  Key focus this week has been on rebuilding a risk team in 
Portland.  Have worked with Stacey White (my power risk director) and Tim 
Belden to make sure we have a short term and long term plan that will work.  
I am comfortable that we have devised a good plan.  (We lost the manager of 
that group last week - a planned move to London to follow her husband to an 
Enron job there.  Our unexpected change this week was the resignation Monday 
of another risk book administrator from Portland.) 

Operational Risk:  Another key area that we are focusing on is the HPL sale.  
End of day today we will know which employees are going to AEP.  We are 
working on a smooth transition plan and how we will handle trailing issues 
with customers after the sale effective date.  We expect to eliminate 46 
positions with the sale.  This number was much larger earlier in the year 
(around 70), but have had a lot of attrition with the news of the sale.  Bob 
Hall is focused on the details around this issue.  

Operational Risk:  We completed a Doorstep Review on the Monterrey office 
last week.  (This is the review of operational controls and procedures.)  
Went well - Max was skeptical about the process at first, but pleased in the 
end.  I will forward and e:mail to you from Max proclaiming his support of 
these reviews.  We overhauled this week the Doorstep Review schedule for the 
remainder of the year and reviewed that today with Rick Causey.  He likes the 
revisions that we have made.  Beth Apollo on my team is leading this effort.  

Spring Break Plans:  My children are on Spring Break the week of March 12 and 
the nanny has the week off.  We will be out of town through Wednesday, March 
13 with the whole family looking at colleges for Meagan.  Patti has contact 
numbers for me if needed.  I may decide to come back into the office on 
Thursday and Friday.  I will let Patti know when we get back in town.  I will 
either see you the end of next week, or back on Monday, March 19.  See 
separate e:mail for contact names and numbers in Operations while I am out.
greg.piper@enron.com