Jeff,

I could be in a tough situation at the desk with personnel.  Right now Daren Farmer is evaluating an opportunity with AEP.  If he stays and if we get pressure for another round of cuts; I may be in a situation that I have to do something with Dave.  If Daren leaves then Dave is really the only one remaining with Waha experience, that is why I decided to move him to the desk.  Bottom line to me is that based on discussions with you in the past and my experience, Dave is definitely a keeper for Risk and has gained some physical experience in the last six months that will help me out particularly if Daren leaves.  Needless to say there are a lot of variables to manage here but I thought you should be aware it, particularly if I end up in a situation where I have to make more cuts.

I am sure you are in a similar situation with some of your folks so you can probably relate to what I am going through.  I will catch up with you as this unfolds but if possible don't completely put Dave out of your plans at this point.  I have explained this situation to him and I think he understands given he is new to trading.

Any thoughts?

Tom