Message-ID: <12864438.1075857077274.JavaMail.evans@thyme> Date: Wed, 16 Feb 2000 08:04:00 -0800 (PST) From: paulo.issler@enron.com To: vince.kaminski@enron.com, stinson.gibner@enron.com Subject: LJM Update Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Paulo Issler X-To: Vince J Kaminski, Stinson Gibner X-cc: X-bcc: X-Folder: \Vincent_Kaminski_Jun2001_9\Notes Folders\Untitledmartin X-Origin: Kaminski-V X-FileName: vkamins.nsf Vince/Stinson: I just came back from a meeting with Accounting (Ryan Siueck) and Credit (Rod Nelson - works with Bill Bradford) in which we presented the two-factor model for calculating credit loss on our LJM's position. Rod seemed positive with the model conceptual approach. He will position Bill Bradford on that. Accounting will have a meeting with AA to discuss the treatment on credit reserves on this deal tomorrow 9:00 AM. They feel my participation is not necessary. At year-end the difference on both valuations - without and with credit risk - indicates a credit loss of about 100 MM. Paulo Issler