Chris/Louise
 
While our obvious near-term priority should be to execute trading agreements with key CPs and jumpstart our trading, it seems to me another high priority should be to try to leverage UBS' investment banking/lending relationships to uncover incremental, near-term origination opportunities.  Given the many financial challenges facing the sector, in particular the merchant generation sector (sinking share prices, capital squeeze, shoring of balance sheets, etc.), I think there are probably some interesting value plays we could tap into combining our commodity skills with the financial services of UBS Warburg.  You've probably already covered this, but I was thinking that a strategy meeting in the near future with some of their folks in Stamford would make sense in order to assess what low-hanging fruit there might be within their investment banking/lending relationships.  This might be a means for our origination group to deliver greater value to the bank than what we could otherwise be able to accomplish given the startup leadtime and internal risk constraints we will likely face.  I would be very interested in discussing this further with you.
 
Regards
John