i won't be in class tonite.  i'm open, too, but to tell you the truth, mark, 
the thought of comparing us and european accounting standards/practices makes 
me break out in a rash.  if there's any way that we can focus on strategy, 
valuation, or other sorts of financial analyses that we've focused on in the 
course, that would be preferable from my perspective.

best,
Jeff



	"Vavrek, Carolyn (US - San Francisco)" <cvavrek@deloitte.com>
	03/07/2001 08:13 PM
		 
		 To: Mark Guinney <Mark_Guinney@watsonwyatt.com>, Jeff.Dasovich@enron.com
		 cc: asama@yahoo.com
		 Subject: RE: Group Project

either day works for me and i am open to anything for the group project
if we do look at aol/tw we should probably limit our scope to a relatively
specific issue 
i'll think about this some more and perhaps we can talk at the end of break
tomorrow (say around 8-ish)

Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA  94105

phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com


-----Original Message-----
From: Mark Guinney [mailto:Mark_Guinney@watsonwyatt.com]
Sent: Tuesday, March 06, 2001 7:28 AM
To: Jeff.Dasovich@enron.com; cvavrek@deloitte.com
Cc: asama@yahoo.com
Subject: Re:Group Project


The Enron idea is intriguing but could be extremely difficult to do.  If
most of
the Wall Street analysts are havig difficultly seeing through the financial
statements than what chance do we have?

AOL/Time Merger is a good idea.  Also, we can look at a foreign company like
Daimler and see how their financial statements change as they have to
convert to
US GAAP and what this tells us about their foreign accounting.

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax


____________________Reply Separator____________________
Subject:    Group Project
Author: Jeff.Dasovich@enron.com
Date:       03/06/2001 12:29 PM

No rush, but thought I'd throw this out there just ot get the ball rolling:

   Looks at this point like any of the presentation dates work for me, so I
   don't necessarily have a preference.
   Options for project (and I'm really just throwing stuff out there to
   stimulate thought):
   Analyze AOL/Time Warner merger
   My company, Enron, is accused by some analysts of being nothing more
   than a Merrill-Lynch, or a Morgan-Stanley, or a Goldman-Sachs, etc.
   These analysts claim that we should therefore trade at multiples that
   are in line with the investment houses.  We differ in that view (for a
   lot of reasons that I won't go into here).  Might be interesting to
   analyze strategies, differences, etc.

Anyway, just some thoughts to get the ball rolling.  I'm open to just about
anything.

Best,
Jeff
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