metals recycling action - - - - - - - - - - - - - - - - - - - - - - forwarded by mike jordan / lon / ect on 30 / 01 / 2001 18 : 57
- - - - - - - - - - - - - - - - - - - - - - - - - - -
enron europe
from : naomi connell 29 / 01 / 2001 16 : 28
to : mike jordan / lon / ect @ ect
cc :
subject : metals recycling action
fyi
- - - - - - - - - - - - - - - - - - - - - - forwarded by naomi connell / lon / ect on 29 / 01 / 2001 16 : 32
- - - - - - - - - - - - - - - - - - - - - - - - - - -
enron europe
from : naomi connell 29 / 01 / 2001 16 : 28
to : fernley dyson / lon / ect @ ect , michael r brown / lon / ect @ ect
cc : joe gold / lon / ect @ ect
subject : metals recycling action
i have discussed further with joe .
update on african deal
we are still awaiting confirmation on the background checks for the
counterparty - it seems unlikely that there is any link to government
agencies .
there is no proof that the recycling management in hamburg gave any direct
authorisation on this deal . they do not see anything particularly wrong with
it either - to them this is completely different to the indian deals as they
were not involved with preparing the documentation , merely accepting it from
a third party . they see the car purchase ( second hand toyota ) as a simple
payment mechanism rather than a bribe .
the instructions that they gave to their team in october was to cease all of
the indian deals - they seem not to have applied an ethical motive to this ,
but more a specific dictate covering india .
doug imrie is currently reviewing all other international deals and is
working through with stephan scheppler ( the manager of the frankfurt office ) ,
what will and will not be acceptable going forward . a list of written
instructions will be issued following this review .
we do not believe that any action against stephan scheppler will help to
achieve anything in terms of improvement in management going forward . under
german law it would probably be very difficult to prove that he has acted
against instructions ( indeed he does not seem to have received the right
instructions ) .
we do believe that to tighten the top management organisation would provide a
firm and clear message to the management : we can do this in two ways :
1 . to nominate matz heil ( previously bergman ) to lead the 4 person
management team ( currently they are all equal and have individual approaches )
2 . to have him reporting directly into rob soeldner in order to give the
commercial direction an enron approach .
joe will take steps to implement this when he returns from ny at the end of
this week . at this point we will communicate the action to houston .
naomi
metals recycling action
- - - - - - - - - - - - - - - - - - - - - - forwarded by mike jordan / lon / ect on 30 / 01 / 2001 18 : 57
- - - - - - - - - - - - - - - - - - - - - - - - - - -
enron europe
from : naomi connell 29 / 01 / 2001 16 : 28
to : mike jordan / lon / ect @ ect
cc :
subject : metals recycling action
fyi
- - - - - - - - - - - - - - - - - - - - - - forwarded by naomi connell / lon / ect on 29 / 01 / 2001 16 : 32
- - - - - - - - - - - - - - - - - - - - - - - - - - -
enron europe
from : naomi connell 29 / 01 / 2001 16 : 28
to : fernley dyson / lon / ect @ ect , michael r brown / lon / ect @ ect
cc : joe gold / lon / ect @ ect
subject : metals recycling action
i have discussed further with joe .
update on african deal
we are still awaiting confirmation on the background checks for the
counterparty - it seems unlikely that there is any link to government
agencies .
there is no proof that the recycling management in hamburg gave any direct
authorisation on this deal . they do not see anything particularly wrong with
it either - to them this is completely different to the indian deals as they
were not involved with preparing the documentation , merely accepting it from
a third party . they see the car purchase ( second hand toyota ) as a simple
payment mechanism rather than a bribe .
the instructions that they gave to their team in october was to cease all of
the indian deals - they seem not to have applied an ethical motive to this ,
but more a specific dictate covering india .
doug imrie is currently reviewing all other international deals and is
working through with stephan scheppler ( the manager of the frankfurt office ) ,
what will and will not be acceptable going forward . a list of written
instructions will be issued following this review .
we do not believe that any action against stephan scheppler will help to
achieve anything in terms of improvement in management going forward . under
german law it would probably be very difficult to prove that he has acted
against instructions ( indeed he does not seem to have received the right
instructions ) .
we do believe that to tighten the top management organisation would provide a
firm and clear message to the management : we can do this in two ways :
1 . to nominate matz heil ( previously bergman ) to lead the 4 person
management team ( currently they are all equal and have individual approaches )
2 . to have him reporting directly into rob soeldner in order to give the
commercial direction an enron approach .
joe will take steps to implement this when he returns from ny at the end of
this week . at this point we will communicate the action to houston .
naomi