Message-ID: <23818465.1075840955019.JavaMail.evans@thyme> Date: Mon, 4 Feb 2002 15:05:17 -0800 (PST) From: john.llodra@enron.com To: f..calger@enron.com, louise.kitchen@enron.com Subject: Leveraging UBS' financial services Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: Llodra, John X-To: Calger, Christopher F. , Kitchen, Louise X-cc: X-bcc: X-Folder: \ExMerge - Kitchen, Louise\Inbox X-Origin: KITCHEN-L X-FileName: louise kitchen 2-7-02.pst Chris/Louise =20 While our obvious near-term priority should be to execute trading agreement= s with key CPs and jumpstart our trading, it seems to me another high prior= ity should be to try to leverage UBS' investment banking/lending relationsh= ips to uncover incremental, near-term origination opportunities. Given the= many financial challenges facing the sector, in particular the merchant ge= neration sector (sinking share prices, capital squeeze, shoring of balance = sheets, etc.), I think there are probably some interesting value plays we c= ould tap into combining our commodity skills with the financial services of= UBS Warburg. You've probably already covered this, but I was thinking tha= t a strategy meeting in the near future with some of their folks in Stamfor= d would make sense in order to assess what low-hanging fruit there might be= within their investment banking/lending relationships. This might be a me= ans for our origination group to deliver greater value to the bank than wha= t we could otherwise be able to accomplish given the startup leadtime and i= nternal risk constraints we will likely face. I would be very interested i= n discussing this further with you. =20 Regards John