Message-ID: <18977211.1075852346803.JavaMail.evans@thyme>
Date: Mon, 22 Oct 2001 10:33:44 -0700 (PDT)
From: david.delainey@enron.com
Subject: ServiceCo
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X-From: Delainey, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=28FC501B-22D3A001-62569FB-57CAAA>
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Kevin, given the track record of mis-behaviour, I don't fault you with the =
premise of guilt before understanding.  But I would like to assure you that=
 despite the high valuations externally, which I probably agree are fantasy=
, The Facility Services Group has a clear vision/market; it has a quality m=
anagement team; it will be under my thumb and it is conservatively valued i=
n the books.  It is much more that a Blockbuster or other like structure.  =
If you would like to discuss in detail do not hesitate to give me a call an=
d I will take you through it - both overall strategy and tactics.  Even tho=
ugh it has been a confluence of events which has caused our problems, the f=
undamental root of most issues is an inactive management team which hasn't =
managed the detail as well as we would like.  New Power in my view would no=
t have been as big a loser if we had kept it private and managed it closely=
 as a key part of the business.  Instead we took it public and let it run a=
mok.  I think you can see parallels across the company.  Initially well int=
entioned and thought out strategies fall apart when not managed appropriate=
ly.

Regards
Delainey