revised organizational changes enron north america corp cliff baxter kevin hannon july part enron north america ena reorganization implementation several objectives highlighted critical continued growth ena including 1 accelerate development people 2 significantly expand customer network associated markets 3 accelerate enhance information flow groups within ena across enron consistent objectives corporate goal fostering b downstream coverage origination groups focus delivering broad range products services heavy industrial customers including pulp paper chemicals plastics refined products metals mining heavy manufacturing industrial gases fertilizers transportation textiles glass manufacturing eastern western u midstream coverage origination groups focus energy finance industries downstream coverage origination energy deregulation continues north america becoming clear heavy industrial segment important customer market ena enron corp clear ena significantly expand industrial customer network create innovative industrial solutions group deploy capabilities enron corp backdrop downstream coverage origination function expand product offering include ena existing energy commodities energy services finance assets pulp paper capabilities also ees energy outsourcing capability global fuel chemicals plastics refined products risk management capability additional capabilities offered conjunction ees global fuels groups given size importance enron initiative greg piper returning portland manage business greg leadership downstream origination effort segmented three sub groups given nature industries product offering pulp paper edward ondarza continue manage coverage activities pulp paper business group responsible provision innovative products services pulp paper industry including provision paper risk management products b chemicals plastics refined products asked jim ajello lead coverage activities business group responsible provision innovative products services chemicals refined products industries c non integrated industrials bruce garner formerly leader bankers trust global metals mining group london joined ena lead coverage activities business group responsible provision innovative products services metals mining heavy manufacturing industrial gases fertilizers transportation textiles glass manufacturing industries midstream coverage origination eastern coverage origination group activities focus energy finance power development solutions electric gas utilities municipals co ops energy service companies eastern interconnect asked janet dietrich assume leadership group b western coverage origination group activities focus energy finance power development solutions electric gas utilities municipals co ops energy service companies wscc also continue manage qualified facilities qf restructuring opportunities western u asked chris calger assume leadership coverage group chris relocate portland calgary currently leads canadian downstream origination efforts c ipp merchant coverage origination group activities focus provision structured energy finance asset solutions emerging merchant power generators control large portfolio merchant power generation either development acquisition asked mike miller assume leadership group addition mike continue manage power development activities eastern interconnect eastern qf restructuring group focus qf restructuring opportunities eastern interconnect including existing restructuring capitalization east coast power assets asked dave duran assume leadership business greg blair formerly enron asia development group doug clifford formerly citizens power dick lydecker formerly cogen technology join newly formed business 2 commercial transactions commercial transactions group ctg co headed ray bowen jeff donahue formed provide centralized resource execution transactions within ena thereby improve ena efficiency executing transactions free origination groups increase intensity client coverage ctg consists six primary functions transaction development capital structuring portfolio management commodity structuring transportation transactional support accounting technical analysis upstream asset management transaction development group responsible deal leadership execution optimization aspects transaction conjunction originator function divided four teams dedicated two four origination groups dedication specific groups provide closer link better service greater accountability origination groups however ctg resources designed fungible flexible resource allocated highest value transactions across coverage functions midstream transaction development dedicated eastern western coverage origination groups senior members group include billy lemmons george mccormick erin norris russ porter billy lemmons joined enron 1992 recently vice president capital structuring risk management ees russ porter joins us today dynegy manager responsibilities power origination b downstream transaction development dedicated ena industrial origination efforts pulp paper petrochemicals refining environmental energy metals mining industries coverage established senior members team include rodney malcolm jay boudreaux finley biggerstaff chris helfrich anticipate announcing two four additions team within next weeks c generation transaction development dedicated ipp merchant services power plant development qf restructuring groups senior members team include thomas suffield andy kelemen kelly mahmoud john house thomas suffield joined enron 1996 recently vice president origination latin american group azurix anticipate announcing two additions team within next weeks upstream transaction development dedicated producer finance coal gas assets groups senior members team include brad dunn john curtin chris hilgert hope announce addition least one vp group prior yearend ray bowen primary oversight responsibilities upstream downstream transaction development teams jeff donahue primary responsibilities midstream generation teams andrea reed continue head capital structuring portfolio management junior commercial resources within transaction development teams dual responsibilities transaction development teams capital structuring group remaining four groups within ctg remain largely unchanged addition origination transaction development teams respective origination groups located together believe changes significantly enhance market coverage industry knowledge ena markets particularly industrial markets also provide closer partnership accountability coverage origination groups ctg groups please help us continuing build success enjoyed north america working us implement changes