Thanks for the email.  Reorganize and grow this business?  Not me??!  Upon 
first look, this business appears to have huge opportunities and ones that 
can be executed upon, especially if they consider themselves a core 
business.  It will  be a big challenge but we will make it work in a big 
way.  A lot of people have tried to make this business work.

I'll follow-up on Treasury Connect, thanks for the heads up.

By the way, science is Gary's passion and he has an undergraduate and MS in 
chemistry.  He might be an interesting guy to get involved (at least at the 
edges) with this project.  I told him about it and he really would like to 
get invited to the next meeting.  What do you think?  It always helps to have 
an avid supporter in a new business.

Mike




To: Mike McConnell/HOU/ECT@ECT
cc:  
Subject: Re: MEC  

Congrats!  Those guys better watch out, you might organize them.

FYI, we have an investment in a company called Treasury Connect that has an 
interest rate swap portal.  Gary is working with them to do a trade.  They 
are currently negotiating with the World Bank to provide a private label 
product to them.

TC's clients include Xerox, GE, Duke and us.  I know with the webification of 
everything that we will be looking at those markets, but I would like to make 
sure our guys evaluate their technology offering before you move to far into 
their market.  They are focused on the very low value, commoditized 
transactions, so I don't know if it is an area Enron will compete for.

Thanks,
Mark