Message-ID: <23253042.1075845041224.JavaMail.evans@thyme> Date: Tue, 20 Jul 1999 04:09:00 -0700 (PDT) From: mark.haedicke@enron.com To: kevin.hannon@enron.com, kenneth.rice@enron.com, cliff.baxter@enron.com Subject: Accomplishments for the First Half of 1999 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mark E Haedicke X-To: Kevin P Hannon, Kenneth D Rice, Cliff Baxter X-cc: X-bcc: X-Folder: \Mark_Haedicke_Oct2001\Notes Folders\Sent X-Origin: HAEDICKE-M X-FileName: mhaedic.nsf 1. Legal Risk Report -- developed the concept of the legal risk report for ECT. I began reporting and managing the ECT legal risks on that basis. This resulted in a better understanding of legal risks such as the power contract risks. There will be many collateral benefits for the company as a result of this new technology for legal risks such as better decision making on transactions and faster focus on solving problems. 2. Developed and implemented new Chinese Wall Policy -- in the face of almost daily breaches of the then existing policy, a new policy was developed that is fashioned to fit the unique business of ECT. The traders and originators helped design the policy and have "bought in". Training was completed in June. This new policy should reduce our SEC risk, while at the same time, allow us to take advantage of certain information. 3. Lead power industry to develop a standardized form -- pushed ISDA and EEI to work with the major IOU's to jointly develop a standard master trading form for power. The form is now 80% complete and is modeled after the ECT form. The result will be a significant saving of legal time and effort and more transactions will be completed in the industry with less risk of an unintended default. 4. Cutting edge legal work -- identified and solved many cutting edge legal questions in connection with the start-up of many ECT businesses. These businesses include (i) the acquisition of competitive information, (ii) weather, coal, emissions, band- width and electronic trading, and (iii) acquisition of businesses through contract such as contemplated in the UI and the Peoples deals. 5. Carolina Power & Light -- after filing suit against CP&L, acheiving a settlement at 90% of the value, despite difficult legal issues. 6. Deals are Us -- lots and lots of deals done. Legal built a closer relationship with several difficult groups with improved results for the company.