Steve--

I hope things are going well for you.  LaRence Snowden told me he met with 
you last week to discuss opportunities for him within the Regulatory group.  
As a courtesy follow-up to that meeting, I wanted to tell you about him and 
the skills I think he possesses.  LaRence spent 2000 working for 3 different 
bosses in EBS, and when the music stopped with me at the helm, he had not 
produced enough identifiable work product for any one of us to be able to 
fall on our sword for him.  The double whammy was that he was at the point of 
aging out of the Associate program and in need of a commercial position.  In 
my opinion, LaRence was not suited to the type of work I need my people to do 
in EBS Structuring, and I had to pass on a promotion for him.  His ranking 
stems from the fact that he couldn't keep up with the other Associates in the 
group with respect to hard-core models and business analysis.  We eventually 
put him in the role of implementation, where his main objectives have been to 
identify and overcome barriers to getting a deal up and running, which 
everyone agrees is his strength.  He has good internal networking skills, is 
a hard worker, knows Enron, and communicates the essentials to management.  
If that's what your team needs, he may be a fit.  Hopefully this goes without 
saying, but please don't think of this as a "no-look pass."  LaRence needs to 
find a home on his own merits.  I just promised him that I would tell people 
the background details of his situation when appropriate.

Thanks for talking to him and please call me if you have questions,
Brad Richter