erc financing spend money pull together market info determine enough residual value liquidity data support story loan would secured original message deffner joseph sent thursday october 25 2001 3 22 pm calger christopher f kitchen louise cc lewis jim subject erc financing regards existing deal setup costs timeline primarily result working kinks legal accounting structures find deal structure sides could live would hope costs would lower future additions said though underlying inventory items would evaluated lenders residual value liquidity degree underlying asset would support less book value upon quick liquidation put call price protection embeds enron risk financing current environment less confident could sell unsecured enron piece shortly jim stay point exercise ercs items thanks sent blackberry wireless handheld www blackberry net