Daniel, these are the notes I took from Friday's floor meeting.


Dan Leff floor presentation on Friday March 22nd, 10:00 AM
came here 5 years ago, Mechanical enigeer, sold his business FMES in 1997 to EES and been with EES every since.

we have about 1,000 people left in wholesale and retail
about 800 people in support groups
we've lost about 7,000 people since Dec 2nd.

3 things
1.  where is the business now
we know where we are, where we are going, retention\
pooled wholesale and retail resources
figure out how to get the people together

we've completly revamped the sr management team
target recovery of $6 billion dollars for the estate team, this is not a book value or firesell value.
$3 bill in ENA, $1.4 EES  $600 mill enron canada.....so forth.
stan hortin   mike mcconnel looking at packaging deal and assets together to develope a new reorganized company.

2.
we are important, the people that is
all the difficult times are behind us
he understands our urge to leave
take a deep breath, think about how what you do will enhance career.

retention plan should be presented next week, will be filed next week with the bankruptcy court.
creditor's committee has approved the retention plan

plan brings substantial amount of money to bear 
jobs may change
email will go out next week detailing plan
management will talk to people before next friday about how the overall retention plan will impact us and our coworkers


Liquidation bucket - people settleing terminated positions, assets, primarily commercial oriented.  Commision type environment.
Retention Pool - cetain amount of money is paid on a qtrly basis.
Severeance plan - safety net for people not in retention or liguidation bucket.
anyone in severance plan will have their monies offset by any monies they recieve  on one of the other plans.

3.
personal message 
be positive
have some fun
get a bounce back in your walk
you can be part of fixing it
take next year or 2 years to learn and develope.

queston:  what is the goal of the company
we are selling books of business, assets, and substantial amount of backoffice work needs to be done to do the settlements.
we are not going to try and develope new business.

question:  org chart?
We should be developing one over the next few weeks.

came here 5 years ago, Mechanical enigeer, sold his business FMES in 1997 to EES and been with EES every since.