fw : currency hedging - - - - - original message - - - - -
from : shankman , jeffrey a .
sent : monday , october 22 , 2001 1 : 29 pm
to : lavorato , john
subject : re : currency hedging
i don ' t have all the facts to agree or disagree . until john z has approval to trade currency , i wouldn ' t think you would want to go down this path . in addition , i ' m sure you know hegding currency this big and late of fridays is tough .
- - - - - original message - - - - -
from : lavorato , john
sent : monday , october 22 , 2001 11 : 50 am
to : shankman , jeffrey a .
subject : fw : currency hedging
by the way , i agree with zufferli on this .
- - - - - original message - - - - -
from : zufferli , john
sent : monday , october 22 , 2001 11 : 46 am
to : hickerson , gary ; stuart iii , william ; lavorato , john ; milnthorp , rob
subject : currency hedging
given the volatility in the gas market ( which is the sole impact on the canadian power book ' s us dollar exposure ) and the exhorbitant cost involved in hedging multi - year cashflows ( i . e . as evidenced by friday 10 / 19 / 2001 trade of - $ 1 , 200 , 000 cdn new deal value for the 14 year swap that i entered into ) , i will manage the currency exposure of this book myself , i will hedge appropriately when i see fit and will not accept hedges forced on enron canada because of arbitrary position limits set by your department .
john zufferli
fw : currency hedging
- - - - - original message - - - - -
from : shankman , jeffrey a .
sent : monday , october 22 , 2001 1 : 29 pm
to : lavorato , john
subject : re : currency hedging
i don ' t have all the facts to agree or disagree . until john z has approval to trade currency , i wouldn ' t think you would want to go down this path . in addition , i ' m sure you know hegding currency this big and late of fridays is tough .
- - - - - original message - - - - -
from : lavorato , john
sent : monday , october 22 , 2001 11 : 50 am
to : shankman , jeffrey a .
subject : fw : currency hedging
by the way , i agree with zufferli on this .
- - - - - original message - - - - -
from : zufferli , john
sent : monday , october 22 , 2001 11 : 46 am
to : hickerson , gary ; stuart iii , william ; lavorato , john ; milnthorp , rob
subject : currency hedging
given the volatility in the gas market ( which is the sole impact on the canadian power book ' s us dollar exposure ) and the exhorbitant cost involved in hedging multi - year cashflows ( i . e . as evidenced by friday 10 / 19 / 2001 trade of - $ 1 , 200 , 000 cdn new deal value for the 14 year swap that i entered into ) , i will manage the currency exposure of this book myself , i will hedge appropriately when i see fit and will not accept hedges forced on enron canada because of arbitrary position limits set by your department .
john zufferli