Tim, lets not worry about margin at this point - we are trying to get a 
handle on headcount and direct expenses/capital charge first.  You will have 
your day in court to discuss margin soon.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/10/2000 
12:46 PM ---------------------------
   
	
	
	From:  Tim Belden                           11/10/2000 12:32 PM
	

To: David W Delainey/HOU/ECT@ECT
cc:  
Subject: 2001 Plan


---------------------- Forwarded by Tim Belden/HOU/ECT on 11/10/2000 09:34 AM 
---------------------------
From: Tim Belden on 11/10/2000 10:31 AM
To: John J Lavorato/Corp/Enron, Dave Delainey
cc:  
Subject: 2001 Plan

I received the 2001 plan that Dave sent up here.  Chris and I talked and are 
working through all of the questions that Dave had.  I noticed that the gross 
margin plan for west power trading was $170 million.  When you were here I 
talked about $100 million total and then you talked me up to $120 million 
total with $100 from the trading efforts and $20 from middle 
market/services.  Why the change from $120 to $170?  Perhaps it was a 
typo?????  While I intend to make as much money as I possibly can next year, 
the $170 number seemed high.  Particularly given the regulatory freak show 
that is going down in California right now.