Rick, I disagree - the DASH had an implication unsubstantiated that the 
current deal on the table is a bad one.  I believe that RAC should provide a 
clear opinion or say directly that the analysis is deficient.

It is too easy to state the obvious.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/29/2000 
11:17 AM ---------------------------
From: Rick Buy on 09/29/2000 10:18 AM
To: David W Delainey/HOU/ECT@ECT
cc: David Gorte/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Richard 
Lydecker/Corp/Enron@Enron, Raymond Bowen/HOU/ECT@ECT 
Subject: Re: Basic  

In my opion this DASH did exactly what it was supposed to do - prompt a 
dialog on whether we are getting an adequate price for this asset. My 
understanding is that no model was built to value an alternative nor was 
there any effort to market the company. If we want to "take the money and 
run" (whhich in this case is probably the right decision) fine, but we should 
know what we are leaving behind, especially given the current commodity price 
environment.  Rick