Vasant,

Yes, it's perfect. Please, indicate that the wording was unfortunate.

Vince





Vasant Shanbhogue
03/08/2001 11:20 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:  
Subject: RE: Weekly report

Hi Vince,

 regarding David Port's response to Kevin Kindall's email, I feel that I 
should respond, at least to make our position clear.  Please indicate if the 
following response is appropriate -------

"Hi David,

  I understand that you were slightly upset over a comment Kevin Kindall made 
in one of his weekly reports.  The intention was never to disparage anybody.  
It is just that since Research gets data from a large number of sources, we 
feel obligated to the data donor to ask any requester for clarification of 
need.  I completely understand that RAC typically has access to much 
sensitive information and they have a right to know much information.  We 
just want to make sure there is open flow of information (it is in 
everybody's best interests and the company's best interests) and that 
everybody is aware of how data is flowing.  

Best wishes,
 Vasant"

---------------------- Forwarded by Vasant Shanbhogue/HOU/ECT on 03/08/2001 
11:11 AM ---------------------------
From: David Port/ENRON@enronXgate on 03/08/2001 08:46 AM
To: Kevin Kindall/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Rudi 
Zipter/ENRON@enronXgate 
Subject: RE: Weekly report

Kevin - thanks for the update.

On the Stock option Plans, if your angle is what I suspect, I suggest you get 
with Rudi Zipter, who has done a great deal of work on this exposure, 
including characterising and actually booking the short option positions in 
Enron's equity system. We are already working with Ben Glisan's team firming 
up a hedging program. We are well advanced in this effort so if you get with 
my people it could save you a great deal of time.

Secondly, I am afraid I do take some exception to your references to Naveen's 
team in your last point. Generally in RAC I don't believe we are obliged to 
explain why we need information, except as a courtesy - otherwise that would 
compromise our role somewhat. Specifically, I am aware of the sensitivity of 
Raptor, just as I am of the sensitivity of all the information my group is 
privvy to on a daily basis. Again, we have done a good deal of work on these 
structures too (I see a position report daily). As I have discussed with 
Vince, Naveen's request would have been derived from a discussion we all had 
with Rick, concerning "meltdown" scenarios and their effect on, amongst other 
things, funding vehicles. 

But I would rather have had a conversation about this than see slightly 
disparaging remarks about my people in email traffic.

Rgds
DP 

 -----Original Message-----
From:  Kindall, Kevin  
Sent: Monday, March 05, 2001 8:19 AM
To: Kaminski, Vince; Shanbhogue, Vasant
Cc: Port, David
Subject: Weekly report

 << File: March 2, 2001 Report.doc >>