-----Original Message-----
From: 	Vela, Valerie  
Sent:	Thursday, September 27, 2001 2:04 PM
To:	Ortiz, Lucy
Subject:	FW: Heartland Steel exposure at COB Jan. 24, 2001

Here you go, Lucy...it WAS Jason Williams.

 -----Original Message-----
From: 	Vela, Valerie  
Sent:	Wednesday, August 01, 2001 3:10 PM
To:	Williams, Jason R (Credit)
Subject:	RE: Heartland Steel exposure at COB Jan. 24, 2001

Jason,

There is a net receivable of about $75,000. Do I remember you saying yesterday that your mark-to-market exposure calculation is including the contract termination fee or not? Chuck Jacobs was given this $890,930 number. It was included in the Jan invoice, but HS did not pay it. This fee was never entered in Sitara and Unify never generated an invoice for it. So, we won't see that as an outstanding receivable in SAP. Does this number get included? Please see my attachment and call if you need anything else. One more issue, there is approximately $92,177.09 (11,319.01 on sale side & $80,858.08 on the purchase side) that we owe them for vol adjustments on MGT following Jan 24. My thought is that this number should be included during negotiations on a final number. Do you want backup (pipe support) showing this credit is in fact valid? 

 

Thanks,
Valerie 

 -----Original Message-----
From: 	Williams, Jason R (Credit)  
Sent:	Tuesday, July 31, 2001 8:31 PM
To:	Enerson, John; Vela, Valerie; Mellencamp, Lisa
Subject:	Heartland Steel exposure at COB Jan. 24, 2001

John, Valerie and Lisa -

I have run the calculations on Heartland Steel's mark-to-market exposure as of close of business on January 24, 2001.  The figure I have calculated is $1,078,209.

Please note that this number does not represent the entire termination payment.  We also need to include the net payable/receivable as of COB 1/24/01 to determine the complete termination payment.  I recall that we had a net receivable from Heartland, but I do not recall the amount.  It should have been somewhere in the neighborhood of $700,000 ( ~$305,000 for December gas and ~$395,000 for January gas to that point).  Valerie, can you pull records to indicate what the receivable was on that date?

Please call me if you have any questions.


 << File: Heartland Steel Termination Pmt COB 01242001.xls >>