Message-ID: <741106.1075840290218.JavaMail.evans@thyme> Date: Thu, 19 Apr 2001 11:37:00 -0700 (PDT) From: rosalee.fleming@enron.com To: jeffrey.garten@yale.edu Subject: Re: Final Draft -- SEC Report on Valuation Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Rosalee Fleming X-To: "Garten, Jeffrey" X-cc: X-bcc: X-Folder: \Kenneth_Lay_June2001\Notes Folders\All documents X-Origin: LAY-K X-FileName: klay.nsf Ken Lay said to let you know he does sign off on this draft. Rosalee "Garten, Jeffrey" on 04/09/2001 05:21:48 PM To: "'Len@shv.com'" , "'jdoerr@kpcb.com'" , "'robg@real.com'" , "'HHK@sprintmail.com'" , "'tim_koller@mckinsey.com'" , "'kenneth.lay@enron.com'" , "'blev@stern.nyu.edu'" , "'nperetsman@allenco.com'" , "'carlsonl@blackstone.com'" , "'depowell@cisco.com'" , "'David.L.Shedlarz@pfizer.com'" , "'rick.sherlund@gs.com'" , "'stiglitz@stanford.edu'" , "'hal@sims.berkeley.edu'" cc: "'avalles@kpcb.com'" , "'Lliming@real.com'" , "'carolyn_hubbard@mckinsey.com'" , "'rosalee.fleming@enron.com'" , "'kboles@allenco.com'" , "'dryan@cisco.com'" , "'jeanne.motte@gs.com'" , "'josephstiglitz@hotmail.com'" , "'lucy@sims.berkeley.edu'" Subject: Final Draft -- SEC Report on Valuation Attached please find the final draft. Tim Koller and I hope it reflects all the changes suggested on the last conference call. Of course, we will never be able to satisfy everyone to the last detail, but I think we came as close as we will get. There is still some proof reading and minor editing to do, and we are working on that even as we send this off. To the best of my knowledge there may now be two "individual views" to go into what is now Attachment D. Len Baker may feel that the language on Safe Harbor doesn't go far enough. Baruch Lev feels that the SEC should not only issue a "concept release" to solicit broad public comments on a "supplementary framework for reporting intangibles," but it should create a task force to do the work. (Most of the group feels this approach is too close to asking the SEC to mandate change.) Baruch also feels that in relying so much on voluntary disclosure, we are exaggerating what companies will, in fact, disclose. My suggestion, Len and Baruch, is to write a paragraph or two for Attachment D, if you wish. Hopefully, both of you will begin with a sentence supporting the report in general, but if you feel strongly that the report doesn't reflect all your views, please do state them for the record. Before we schedule a final call for last minute details, etc, I'd like to request an e-mail, fax or phone call from each of you letting me know if you can sign-off on the report. I'd appreciate this by Monday, April 16th. Thanks a million. Best regards, Jeff <> <> - SEC Task Force Draft 04092001.doc - SEC Press Release 4-06-01.doc