Mich,

I believe Anne Koehler led Greg to believe the estate couldn't hire from NETCO, but I thought you and I had discussed a clause that would allow the estate access to certain people they need who may be going with NETCO. May not be a non-solicitation clause but I'm sure it effectively allowed estate to get people back from NETCO if it needed them?

Can you confirm

David

-----Original Message-----
From: Piper, Greg 
Sent: Monday, December 31, 2001 8:27 AM
To: Oxley, David
Cc: Jones, Robert W.- HR Exec
Subject: RE: employee issues between NetCo and Estate


I will let you and/or Robert work with Beth's group on this.  Jay's group and Jenny's group are probably OK with communication.  I think that if Beth's people and everyone else understand that although it will be a voluntary quit if they are on the NetCo list and do not accept a job with NetCo, their compensation will most likely be equal or better and they will be working for a going concern that is A rated.  Also, it seems that the NetCo people on Beth's list will be working for Webb assuming a deal gets done and they move over, so maybe you and Robert can work with Webb on this so that he can communicate with them as well if you think that is positive.

On the non-solicitation, if I was buying the trading company, I would like a one way non-solicitation where I could hire from the estate but they could not hire from me.  But practically speaking, I don't see why there needs to be one either way.  My logic is that in the first year, the estate would only hire back from NetCo an employee that was not liking it over there or who's job had become smaller, etc. and assuming the estate even had a job for them to do.  It just leaves the door open for a few people who may, within a year, want to move on and that the estate could use.  The estate will be a bankrupt entity with no trading so it is not like we can attract anyone who is happy and real valuable to NetCo. If there was not a non-solicitation either way, NetCo would also be free to hire from the estate a person they could attract.

GP

-----Original Message-----
From: Oxley, David 
Sent: Saturday, December 29, 2001 7:08 PM
To: Piper, Greg
Cc: Jones, Robert W.- HR Exec
Subject: RE: employee issues between NetCo and Estate


They will go to NETCO on the same salary and in the position that you, Webb and Rub decide is appropriate, period. It may not have been in talking points but I think I made it reasonably clear in all the discussions I have had. I can't see any purchaser concluding that the way to make money with NETCO is to cut costs and since Webb and Rub will run IT and Bob Hall back office, they will be deciding who does what.

As to the no hire from NETCO I will look into it, but as a practical matter I can't see why the estate would want to be hiring or that a purchaser would be in agreement.

Sounds like we need to sit them down and get them back on the right track. I have a suspicion that since Beth in particular was dead against communicating anything that this was not handled well in Networks. I am not hearing any issues elsewhere.

David

-----Original Message-----
From: Piper, Greg 
Sent: Friday, December 28, 2001 9:07 PM
To: Oxley, David
Cc: Jones, Robert W.- HR Exec
Subject: RE: employee issues between NetCo and Estate


Webb is the one most concerned. The talking points said nothing about a point in time when the option of going to the estate is closed and after that point not accepting a job with netco is a voluntary quit. Therefore I don't think people have that info. Also an attorney today said that the deal does not allow the estate to hire from netco for a year but that there is nothing about netco not hiring from the estate. Don't you think it should at least go both ways?

I am not the person deciding the above two issue  I am fine with a no option back to estate past a certain deadline but if that is the deal I think we should let them all know it. 

Also the visa issue, I think, is not whether the new employer will accept them it is whether the new company makes them a bad offer and the option to go to the estate is closed andthey are forced to accept it or be on the street with the clock ticking on them to find a new job or leave the country 
Greg Piper