My management book is going to take this $1.45 million hit

-----Original Message-----
From: White, Stacey W. 
Sent: Thursday, September 27, 2001 5:03 PM
To: Presto, Kevin M.
Subject: FW: New Albany Loss Calc


Kevin,
 
Please let me know what you have found out about the following costs (see red section below) related to New Albany.  I have to account for these by Monday afternoon (final month-end DPR), at the latest, so I need to know if you are taking the hits in your book or if Lavo is reimbursing you from office of the chair.
 
Thanks,
Stacey
-----Original Message-----
From: Vos, Theresa 
Sent: Tuesday, September 25, 2001 4:30 PM
To: White, Stacey W.
Subject: FW: New Albany Loss Calc


FYI - estimate for Unit 3 Repair $1.45MM.  Also, attached is the $1.1MM loss on sale calc.
 
theresa
 
-----Original Message-----
From: Zisman, Stuart 
Sent: Tuesday, September 18, 2001 8:42 PM
To: Vos, Theresa; Hoff, Jonathan
Cc: Pierce, Jody; Hardy, Trey; Helton, Susan; Hodges, Georganne
Subject: RE: New Albany Loss Calc


Theresa,
 
I think that it might make sense to visit briefly about your calculation.  As you mentioned, OEC is supposed to be paid certain amounts and will have various obligations to pay significant portions of the amounts paid to it to third parties.  In addition, the latest estimate of the costs to fix the Unit #3 generator is $1.45 million (without any reimbursement from insurance proceeds).  I just want to make sure that your calculation has everything in it because a few minor things have changed.
 
Finally, relative to the possibility of a third quarter close, we are at the mercy and timing of the FERC and cannot close without the required regulatory approval even if both Duke and Enron desire to do so.
 
Regards
 
Stuart
 

-----Original Message----- 
From: Vos, Theresa 
Sent: Tue 9/18/2001 9:54 AM 
To: Zisman, Stuart; Hoff, Jonathan 
Cc: Pierce, Jody; Hardy, Trey; Helton, Susan; Hodges, Georganne 
Subject: New Albany Loss Calc



Stuart/Jon - I have updated the Loss calc for New Albany with actuals thru August.  Forecasted Loss is $1.1MM.  Please let me know if you have any changes to the reserve.  Any OEC costs associated with closing the facility will be accrued in September to the LLC and are not included as part of this calc.  Please call me with any questions.

Trey/Susan - I just found out yesterday that they are trying to close this next week - 3rd quarter deal. 

theresa 
x58173 
<<New Albany Gain Calc.xls>>