The meeting has been moved to tommorow at 11:00 am.   We can discuss these issues before the meeting.

 -----Original Message-----
From: 	Herndon, Rogers  
Sent:	Thursday, October 18, 2001 8:44 AM
To:	Presto, Kevin M.
Subject:	FW: Presentation: URM

Kevin -

I will be in Dallas today and will miss our weekly meeting.  Dale has a very good presentation for the group.  If you would like Berney to attend on my place let him know.  

Other issues:  

I left Janet a voice mail y-day on LSE's and she returned it saying she wanted to discuss with me this am and that they have already allocated those LSE's to deals.  I have asked Joe to come up with all of our alternatives in order to get additional LSE's and to provide me with detailed reasons why we need them.  I don't want to make this into too big of a deal so we will assess all options.  
Site Profile:
Vlady and Woulfie feel that they need to be able to buy/sell shaped swaps to manage their "risk".  I don't think so.  Essentially, they had proposed that they can look at all commodity deals that get executed and "keep" part of the deal for their book.  I told them that this was ludicrous.  They even indicated that they might want to just buy certain hours for certain megawatts.  My position is that 1) they do not need to trade swaps - shaped or not - to manage their portfolio as the forecast should always contain their best view of the market and outright swaps would be VAR increasing, 2) only one desk - the commodity desk - should manage shape, 3) i do not offer shaped products as a tradeable product at this time 4) they already will own/manage products that best mitigate their risks and that I would have to buy to cover - DG, Load Curtailment, DSM, etc.  Anyway, I have had several discussions with them and I think Vlady understands where I am coming from.  In case this comes up you will know my thoughts.

Load Forecasting:  I need to spend some time with Tim, Jeff, Ozzie, Vlady, Woulfe, but I really would like to see us roll Retail Load Forecasting (Mike Frazier) into ROC.  Who officially owns ROC (Lloyd?).

I will be available buy cell or pager if you need me.

RH




 -----Original Message-----
From: 	Furrow, Dale  
Sent:	Thursday, October 18, 2001 7:46 AM
To:	Lavorato, John
Cc:	Belden, Tim; Herndon, Rogers
Subject:	Presentation: URM

John,
Tim and Rogers asked me to put together a presentation on URM for you and the Thursday meeting.  I'm finishing it now.  If we have time on the agenda (figure about 1/2 hour--14 slides) I'd like to do it today.  Please let me know.

Thanks,
Dale