Subject: RE: DASH Classification - "Proceed - See Other RAC Comments"
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Thu, 13 Sep 2001 16:45:42 -0700 (PDT)

Dave: If agreeable with you, we will remove "See Other RAC Comments" from the DASH template and library as an ongoing classification option.  I assume you will communicate with Underwriting and IV personnel about the  philosophy of the change and implementation.  Please let me know if my group can do anything else.  Thanks,  Rick C.

 -----Original Message-----
From: 	Gorte, David  
Sent:	Thursday, September 13, 2001 6:13 PM
To:	Carson, Rick L.
Cc:	Buy, Rick
Subject:	RE: DASH Classification - "Proceed - See Other RAC Comments"

Rick,

I agree with Rick that three categories are sufficient--if the issues are substantive, they should either result in an increase in the capital price and a "Return below Capital Price" or a "Do Not Proceed" recommendation.  "Other RAC Comments" should highlight any issues succinctly, but are not a substitute for a recommendation and should be read irrespective of being highlighted on the cover page of the DASH.

Regards,

Dave

 -----Original Message-----
From: 	Carson, Rick L.  
Sent:	Thursday, September 13, 2001 5:54 PM
To:	Buy, Rick; Gorte, David
Subject:	RE: DASH Classification - "Proceed - See Other RAC Comments"

 Rick:  Are you saying that you just want three DASH categories, i.e. 1) Proceed, 2) Do not Proceed and 3) Returns Below Capital Price  with no category for Issues, RAC Comments, etc.  RC

 -----Original Message-----
From: 	Buy, Rick  
Sent:	Thursday, September 13, 2001 5:45 PM
To:	Carson, Rick L.; Gorte, David
Subject:	RE: DASH Classification - "Proceed - See Other RAC Comments"

i don't like this. we must make a decision. rick

 -----Original Message-----
From: 	Carson, Rick L.  
Sent:	Thursday, September 13, 2001 2:38 PM
To:	Buy, Rick; Gorte, David
Subject:	DASH Classification - "Proceed - See Other RAC Comments"

As we discussed yesterday, in our review of our DASH recommendation vs. actual performance we found 36 DASHes that have been approved since late 1999 that carry the recommendation "Proceed - See Other RAC Comments".  Typically the RAC Comments describe substantial issues that must be resolved if the transaction is to be successful.

Given RAC's increased visability and accountability for portfolio performance, perhaps a more forceful description than "See Other RAC Comments" would be desirable which could be  something like: 

		"Issues - Sr. Management Approval Required" 

Therefore, the four DASH categories would be as follows:

	___  Proceed with Transaction

	____ Issues - Sr. Management Approval Required

	____ Returns Below Capital Price

	____ Do Not Proceed

The "See other RAC Comments" could be used as a footnote with an asterisk placed on any of the above categories where we wanted to call the reader's attention to our comment section.  We would, however, eliminate "See other RAC Comments"  as an official DASH classification category.  

Please let me know what you think.  We can instantly make this change or any variation you would like in both the DASH Template and Library.     
							Regards!
							Rick C.