Ted, my comments are indicated below.

 -----Original Message-----
From: 	Murphy, Ted  
Sent:	Monday, May 14, 2001 9:19 AM
To:	Buy, Rick
Subject:	RE: London Assignment

Rick,
Amongst my concerns are:
	The budget calls for 54 heads to do the job in EEL-RAC. There are currently 31 with 3 offers on the table on 5/14.
	There was absolutely no on going recruiting effort here, therefore I have to start from scratch.
	The heads that are here are junior at best with little or no Enron or management experience.
	There is such a dearth of senior people here that there are almost no people to screen resumes or interview candidates
	There is no understanding of the role of RAC in Enron Europe.
[Buy, Rick]  
Agree, you are supposed to fix all of the above!
	The IT platform and operational problems put the risk management activities of our group back 3 years at least.
[Buy, Rick]  Agree this is an issue. 
	The Houston based RAC group (primarily credit) is provincial, uncooperative and boring.
[Buy, Rick]  At least they are in their seats working. Maybe you should send Rod back since he is a part of the Houston bore core. You have failed to build consensus in your credit initiative. Without buy-in it is almost impossible to implement change at Enron
	In addition to losing net 9 bodies here, the Market Risk group in Houston lost 4 and is poised to lose several more because of  
		disappointment  with the opportunity set within RAC.
[Buy, Rick]  I find it curious that our primary problem with turnover is in Houston Market Risk and London. Linkage?? If people aren't satisfied for the right reasons, they should leave. There is all kind of opportunity in RAC. People are going all over the world and doing different things. We have people in Portland, Sydney, Calgary, London. People have left the group and done well as well. We offer lifetime career satisfaction guarantees to no one. 
	We are uncompetitive with respect to all-in compensation, title, and resources to do the job as evidenced by an inability to recruit good talent.
[Buy, Rick]  Disagree. We did an extensive study last year and adjusted everyone that needed adjustment. It is difficult to recruit. It is one of the hardest things to do in management. It requires salesmanship, good timing and closing ability, especially when a group is in turmoil.
	I can rebuild this group but it is going to take longer than anyone thought because of poor previous management.
	Finally, I am trouble finding my own motivation.  I believe that I continue to do a good job for the firm yet I do not feel that I am recognized for the effort.
[Buy, Rick]  Memos, and other ill thought out outbursts like this are precisely why you are not recognized.
	This painful rebuilding process does nothing to make me smarter, more valuable or more interesting excep through a fairly monumental physical 			and emotional effort on my part.	
[Buy, Rick]  I would look at it as an opportunity to turn around a segment of the company that needs help which is precisely why you were sent to London. I don't particularly care what it does for Ted Murphy.

In  summary here, unless you had just a really bad day, you oght to consider an alternative assignment either in Enron or outside. You were sent to London to fix a problem the organization has. You are lucky in that there is agreement that there is a problem and resources are available ($) to fix them. This is not unlike Joe Gold taking over metals, or Delaney taking over EES. Big mess, needs fixing. People that do this are usually recognized.

[Buy, Rick]  You may want to discuss this tomorrow.   I'm fairly open. 
 Rick
I am interested in your commments
Ted


From:	Rick Buy/ENRON@enronXgate on 10/05/2001 17:38 CDT
To:	Ted Murphy/LON/ECT@ECT
cc:	 
Subject:	RE: London Assignment

I will think about it. We are achieving the correct outcome here but the timing is off. Concentrate on Caulfield and Oman. Get Brown involved to make sure we get those guys. Use Ene options as a currency to entice them. Upside much better than Chase/JP. Just a thought. Rick

 -----Original Message-----
From: 	Murphy, Ted  
Sent:	Thursday, May 10, 2001 6:35 AM
To:	Rick Buy/HOU/ECT@ENRON
Subject:	London Assignment

Rick
I am obviously at pretty close to an all-time low in my most recent career  at Enron. I need to talk to you about where this is going. I would appreciate it if you would think about this over the weekend and I will schedule some time to discuss with you next week.
Ted