No, you're correct.  In the spreadsheet, there were three sorts of "items":  
discontinued ops, unusual items, extraordinary items, and accounting 
changes.  The sale of the assets came about in the attempt to "trim the fat" 
(or manage earnings, you make the call).  Here's the line item from my 
spreadsheet:



It came right after the entries for the "unusual loss from the government 
ban."  I included it with the "unusual" items (right after discontinued ops 
and right before extraordinary items.  Big question is, is it included 
already.  I assumed not, since (though it's confusing), the problem makes is 
sound like none of the additional "agenda items" were accounted for.  I don't 
think it's a huge deal, though.  The questions left a lot of room for 
ambiguity.

Best,
Jeff



	Dylan Windham <dwindham@uclink4.berkeley.edu>
	11/20/2000 02:16 PM
		 
		 To: Jeff.Dasovich@enron.com
		 cc: 
		 Subject: Re: This Week's case

Maybe I am confused.  I thought that the sale of the assets was separate 
from the discontinued operations of the Feed division.  Unfortuneatly I do 
not have my book here to check.

Dylan



At 10:30 AM 11/20/2000 -0600, you wrote:

>See attached.  Just a couple of typos corrected in strike-out-underline.
>Question:  Thought I'd included the gain on sale as "unusual" as opposed to
>"extraordinary."  If we leave it out, are we assuming it's already included
>in the $9.5MM?  If so, we might want to include a note at the bottom of the
>spreadsheet like, $9.5 MM figure includes $750,000 gain on sale of certain
>assets completed in 1995."  Or am I just totally out lunch on this one.
>
>Thanks.  This one was a little messy.  You did a great job of pulling it
>together.
>
>Best,
>Jeff
>
>(See attached file: Agrofeed Final Version 1120.doc)