Subject: Re: Trading Support Operations - London
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Tue, 8 Feb 2000 08:30:00 -0800 (PST)

Fernley,
As we discussed earlier this year, I have serious concerns about Barry that I 
think are both well-founded and reasonably well documented.  To be fair, I 
will say that since Q1 of last year, I have not seen any FURTHER 
"prosecutable" offenses and he has made some attempts at being more 
communicative.  However, I am clearly unwilling to stake my career on his 
transformation, particulary with as influential person as John Sherriff in 
charge of the office.  Probably more to the point,
it continues to concern me that London has not developed an operations team 
that is not so Barry-dependent.  Evidence to this effect are, the fact that 
he is your only candidate for the Global Products position, that someone from 
Houston has to be part of the "World Tour"  in Europe (Brent Price), that 
your candidates  for a senior interim operations head in Helsinki was David 
Port or Richard Sage, and that your suggestion for additional depth is Steve 
Young.

Further for the record, I believe that I am not the only one with whom Barry 
has a credibility issue - Arthur Andersen, other Global Products personnell, 
and other risk people in London have expressed similar concerns to me - I 
just happen to be the most vocal.
Ted

Fernley Dyson
02/08/2000 04:07 PM
To: Richard Causey/Corp/Enron@ENRON
cc: Rick Buy/HOU/ECT@ECT, John Sherriff/LON/ECT@ECT, Ted Murphy/HOU/ECT@ECT, 
Sally Beck/HOU/ECT@ECT 
Subject: Trading Support Operations - London

Rick,

Not wishing to delay the comprehensive review of our trading support 
function, particularly as it relates to our Global Products business, we 
already have Barry Pearce taking a lead in this area.

The issue of concern is whether this should be an interim measure or a more 
permanent solution.  Well - nothing is permanent in Enron and I think Barry 
understands this as well as anybody. If we had a more suitable candidate, we 
would give him/her the job. 

I have seen Barry develop and mature over the last 12 months along with the 
team that we have built around him. I'm convinced that he can add significant 
value by drawing the Global Products support functions 'in to the fold'. 
However, he clearly has a credibility issue with Ted in particular and, 
whilst I do not share Ted's views, I do not hold Barry out as a saint and I 
can see recurring problems if such a key relationship is not well grounded.

I suggest that we continue to search for a candidate - known and trusted 
within Houston, who can instill confidence there. Steve Young (head of RAC in 
London) may be an interesting option, although I'm sure he would not be easy 
to replace. In the meantime we need Barry to take things forward and I will 
be monitoring the situation very closely.

Regards

Fernley.