Hello Jeff-
Talked with Larry Lawyer yesterday on proposal for EGM to take  on a small team from the Structured Finance Group.  Larry is on board with  the concept but reserves opinion on the scaleability of the business.  
 
We have retooled the business model to concentrate on bigger  return projects, resulting in a plan that better fits the Enron  formula.  Additionally the skill set of the team (3) will provide  additional value and leverage to existing EGM transactions-especially in the  area of moving assets off balance sheet. Jeremy Thirsk  has first hand knowledge as we have helped structure a Japan trade. Also, Ray Bowen will take on a small team at EIM, as he has bought into  the value return.
 
Larry suggests it is worthwhile for EGM to consider the  proposal further. To this end, I request a meeting with you anytime on  Tuesday or Wednesday next week. I return to London on Thursday.    
Please respond to george.delcanto@enron.com  .
Will forward revised business plan and background material  prior to meeting.
 
thanks and regards,
George