Message-ID: <11159120.1075854427391.JavaMail.evans@thyme>
Date: Mon, 26 Jun 2000 11:07:00 -0700 (PDT)
From: darron.giron@enron.com
To: dgiron1@pdq.net
Subject: NSS Narrative
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---------------------- Forwarded by Darron C Giron/HOU/ECT on 06/26/2000 
06:07 PM ---------------------------
   
	
	
	From:  Kevin P Radous @ ENRON                           06/26/2000 11:13 AM
	

To: Darron C Giron/HOU/ECT@ECT
cc:  
Subject: NSS Narrative

Darron,

I am forwarding to you some info on the NSS transaction.  I don't know if you 
are interested or not but here it is.

 
---------------------- Forwarded by Kevin P Radous/Corp/Enron on 06/26/2000 
11:11 AM ---------------------------
   
	
	
	From:  Kevin P Radous                           06/22/2000 09:49 AM
	

To: t.allen@pecorp.com
cc:  
Subject: NSS Narrative

Tim,

The document attached directly below this verbage is what I included to our 
risk folks as we discovered
that the way we were booking NSS was not correct.  Below this attachment is 
our risk director's independent
solution to the problem; you will note that it is the same conclusion that we 
(Richard and myself) came up with
(see the e-mail I sent at the very bottom of this e-mail).  

Hopefully this will help.

Kevin




---------------------- Forwarded by Kevin P Radous/Corp/Enron on 06/13/2000 
09:06 AM ---------------------------
To: Kevin P Radous/Corp/Enron@ENRON
cc:  
Subject: Re: Proposed Change to correct the flaws regarding the NSS program  

Kevin, your not going to believe me but as soon as I got your revised E-Mail, 
I had the answer for you.






   
	
	
	From:  Kevin P Radous @ ENRON                           06/12/2000 06:35 PM
	

To: Kam Keiser/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Steve 
Jackson/HOU/ECT@ECT
cc: Richard Tomaski/Corp/Enron@Enron, Lee Fascetti/Corp/Enron@Enron, Carrie 
Hollomon/HOU/ECT@ect, Laura Luce/Corp/Enron@Enron 
Subject: Proposed Change to correct the flaws regarding the NSS program

Richard, Lee, and myself met this afternoon and reviewed the memo I prepared 
intending to find and propose a solution
to our existing valuation problem.   We think we have the answer.  We would 
appreciate any comments from our risk experts.

The following change to our existing deal is what we think will solve the 
problem.  All that we are doing is changing the fixed
price on Legs 2 and 3 to 0.  If you refer to the example mentioned in my 
earlier memo, you will note that the p/l attributable to 
this deals should be 52,777; by changing these legs to 0 we accomplish this 
end result.  

     

I look forward to any feedback any of you may have to offer.