Subject: Quick Update
From: [email-masked]
To: [email-masked], [email-masked], [email-masked]
Cc: [email-masked]
Date: Mon, 12 Nov 2001 11:54:20 -0800 (PST)

Bill and Friends:
FYI,
things are still quite tight here.  signed a number of netting agreements and some collateral as well towards the end of last week.
Fri nite signed 'ring-type' trade with Innogy which is one reason they came out in press saying that they were trading with us.
Also, signed netting and all but one point on collateral agreement with JAron.

Downgrade to Baa3/BBB- increases margin requirments by about ?19mm - primarily credit trading (solution to this being worked on but not imminent)

Priorities are producers of gas and power in UK.
In particular global counterparties.
cna you please provide brief update of following from your side for our 7:30 am meeting tomorrow (any quick insight/status appreciated)
Hess
Duke
AEP
EKT

Also, any news of status of secured bank facility, L/C capacity, when do we expect wire from Dynegy, S&P had ugly headlines(comments?)

We are starting to get some noise from regulators (FSA, OFGEN) and exchanges (UK px, lpx and apx) -not big numbers but hasssle and bad optics

Your bretheren here are stressing a little so any sympathy/empathy/encouragement/good news you can throw to Pat/Minna/Rod/Christine would be good

Of course, the only thing that keeps us from whining to you guys is that you have it about 10x worse - trust me we appreciate how hard you are all working.  We will remember you in the afterlife.

Thanks

Ted and acquantances