Hi Jeff,

Actually, I totally agree with the analysis.  The company is within the
bounds of the accounting rules.  It is up to the analysts to figure out the
details.

At 09:10 AM 9/17/00, jdasovic@enron.com wrote:

>Greetings.  Here's the case with 1,3 and 4 compiled.  I took some editorial
>license with 1 and 4--hope I didn't butcher what you were conveying Jimmie
>and Dylan.  Check it out.  Still need to determine if folks are comfortable
>with my conclusion in #3, i.e., look, the biz model and the info provided
>in the 10K may be crap, but from a strictly technical perspective, Patten's
>justified in using the sales as opposed to the installment method.  Let me
>know.  Kim's up and running on #2.
>
>Best,
>Jeff
>
>(See attached file: Patten case 1and3and4.doc)


Kimberly Kupiecki
Senior Account Executive
A&R Partners
kkupiecki@arpartners.com
(650) 762 2800 main
(650) 762 2825 direct
fax (650) 762 2801