What is expected for the Tuesday bid? I would guess the most critical from a 
timing perspective will be a response centered on price and 
commercial/technical issues. Michael indicates below he would like a 
timetable for internal approvals to a closing. Do we have any indication how 
pressed he is to close and fund versus agreeing on economic terms quickly and 
allowing us to review the form of contract to ensure compliance with 
accounting and finance guidlelines along the lines of our discussion earlier 
this week? Thanks.


 -----Original Message-----
From:  Jacoby, Ben  
Sent: Thursday, May 31, 2001 5:59 PM
To: Mann, Kay; Schneider, Chip; Bills, Lisa; Manis, Herman; Engeldorf, Roseann
Cc: Booth, Chris; Rose, Steven; Virgo, Robert; Duran, W. David
Subject: FW: GE Turbines

All:

FYI, tomorrow I should receive turbine contracts for the 3 GE 7FAs being sold 
by Site. Please see the e-mail below from Sithe's advisor regarding the 
transaction schedule. Kay and I plan to initially review the contract, and I 
have a technical team (Booth / Rose) ready to review the contracts as well.

From an accounting / finance perspective, I am interested in how we should 
proceed given the circumstances. Kay and my initial plan is to review the 
contracts from a technical / legal / commercial perspective and submit a 
revised indicative number by Tuesday in consultation with Duran. Between now 
and then, it would be helpful to know from accounting / finance how we should 
proceed given that we are in a bidding situation (with I'm told three other 
bidders). Herman / Rose / Lisa - please let me know your thoughts on this.

Chip - I would like Chris Booth to work with you on putting a draft DASH 
together.

In the meantime, I will forward turbine contracts to everyone as soon as I 
receive them.

Regards,

Ben 

 -----Original Message-----
From:  MKolman@rcgroup.com@ENRON 
[mailto:IMCEANOTES-MKolman+40rcgroup+2Ecom+40ENRON@ENRON.com] 
Sent: Thursday, May 31, 2001 2:40 PM
To: Ben.F.Jacoby@enron.com
Subject: Re: GE Turbines


Ben:

Per our conversation today, the turbine contract and LTSA are being sent
via Fed Ex to your office in Houston.

Final bids are due next Tuesday, June 5th via fax to 781-270-0055.  Bids
should include best price and a closing schedule (date by which bidder will
have all internal approvals necessary to enter into a binding agreement
with Seller subject only to consent from GE).

Thanks again for you patience and please call me if you have any questions,

Michael

================
Michael A. Kolman
Principal
Navigant Capital
(781) 564-9774 (direct)