Thanks for the update.  I will be out due to the holidays through monday, but 
call me on my cell at 713 854 4952.  Where do you see the spv reporting, and 
clearly between you, me, gary, and mike, we can think this through.  

Jeff




Paul Quilkey@ENRON_DEVELOPMENT
11/19/2000 04:11 PM
To: Jeffrey A Shankman@ECT
cc:  
Subject: Project X

Jeff

Below please see response from Chris Talbot regarding portability of system.  
To clarify my discussion with you last week, while Gary's oversight is a key 
part of the deal I am uncomfortable with Gary's comments to Chris that I have 
simply introduced the deal and that Gary will make the sole decision on this 
deal.

Jeff, these guys have been introduced to me on a personal basis and the 
discussions are based on a large element of trust.  I see the strongest 
potential for this project working under the SPV structure outlined in our 
discussions.  More importantly, I see a unique opportunity to develop the 
trading technology in a setting  removed from the typical structure (but not 
from controls).  To this end, I do not see the SPV reporting directly to Gary 
nor do I see viability of this project residing solely with Gary.

I will call you Monday to discuss the way forward including the final due 
diligence required to move forward or kill this project.

Paul





To:
quilks@yahoo.com
Subject:
Re: Update
Date:
Fri, 17 Nov 2000 21:00:46 GMT
	
	

	
	Add Addresses 
	
	


Hi Paul,

First, it is good news that the deal is not dead.

I have already asked (as part of my own due diligence) if CSFB would 
cooperate (without mentioning names) and the answer was a clear yes.

We have a new file server and some software fixes in place and the 
system 
platform makes the one you saw look like horse and buggy speed - it is 
very 
fast now. Pity Gary did not see it - it would have 
completely 
knocked his socks off.

Hope the Texas pow-wow was enjoyable.

I look forward to talking on Monday. Electricity got more expensive 
last 
week!

Chris