Louise,  

This is a lot of text including the attatched files, but is the summary gist of what I have tried to communicate internally and am asking to discuss with you this morning.  

---------------------- Forwarded by D'Arcy Carroll/SA/Enron on 02/09/2001 02:14 PM ---------------------------


D'Arcy Carroll
11/09/2000 06:20 PM
To:	David W Delainey@ECT, John J Lavorato/Corp/Enron@Enron
cc:	Kay Chapman@ECT 

Subject:	Brazil Commercial - ** Update Version, delete previous **

David/John - understand the trip will be delayed.    

Proposal Outline has two texts - I. Commercial Strategy and II. Historical Perspective.  The Org Charts will need some discussion - particularly in regard to the strengths and weakness of employed personnel and urgent need for an improved structure. 

Over the FH 2000 and within the new structure with Brett and Joao Carlos Albuquerque in place, the Wholesale group and Trading desk seems to have made some important strides forward in terms of recruiting some good individuals and, in trading terms,  finally executing some fundamental market supply, demand and transmission analysis. 

To get into the game quickly and aggressively, though, I think the commercial group needs to hire some senior, local trading expertise.  I apoligize, but was unable to get in contact with either of these two guys to set up a possible meeting this week.  However, they have the local knowledge, trading competencies and management experience which I consider needed to catalyze the regional effort: 

Axel Hinsch	- 	Argentine and Cargill employee with several years and broad commodity and financial trading, business development and management 			experience, including senior trader for the Bear Stearns Emerging Markets equity desks in the late 1980s/early 1990s. Straight up, no ego
			Argentine Country Manager. 

Mark Hoffman	-	Swiss/Brazilian and Glencore employee with several years energy, energy distribution and sugar sector experience; applied commodity 			and financial arbitrage experience in the Brazilian market.   Lot less straight forward, but applied knowledge and expertise.
			Senior Originator/Trader.

Please forward any input about your interest in scheduling a meeting either open here or in Houston during the week of Nov 20. 

  

For some perspective on my experience at Enron, let me explaing that I have been working in Enron Networks in the region from Q2 '00 and therefore much less formally invovled with the trading (Brazil spot market) and Wholesale pricing, tarrif issues etc.,.. than at the end of FY1999 when I was directly involved in developing our effort to get in the game in understanding the spot price formula calculations and exploring arbitrage opportunities in the wholesale market.   

I've attached my resume for some perspective on my background and capability to critically review the commercial (trading and marketing) and managerial issues involving the past and future opportunities.