As some of you have heard, I have gotten back into the energy business.  I
finished my work in the private equity world with IGP and recently started
with Reliant Resources, the unregulated merchant business of Reliant
Energy.  The company is scheduled to IPO the first week in February with a
distribution of remaining shares some ten months later.  It's a great
challenge to build a business in the face of the upcoming electricity
deregulation in Texas.  For some of my Enron friends that were around when
ECT started trading power and really started growing, the challenge is very
similar.  I'm looking forward to it and I think it will be a lot of fun.

I'm head of a group called Transaction Development & Support focusing
primarily on the large C&I customers.  This group will be responsible for
structuring (that overused word again) deals, keeping the originators
focused on the proper segments of the market, getting the deals sold out
the back door and then tracking the remaining portfolio.

My new contact info is:

tel - 713.207.3170
cell - 713.898.9481
james_r_easter@reliantenergy.com

Now... for those of you looking for a good stock tip and who isn't, I would
strongly advise shorting Starbucks.  As I will no longer be consuming vast
quantities of overpriced latte while digesting the daily Arts section of
the New York Times, I fear for their ongoing viability.

Stay in touch and best wishes to you and your families for the Holidays.

Jim