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- Subject: enron net works
- it is becoming increasingly clear that the development of ecommerce will have
- a significant and continuing impact on the conduct of business in a broad
- array of industries . through enrononline , enron has quickly become a major
- catalyst for the transition to the web in the gas and electric industries .
- enrononline has been an enormous success since its launch . since launch , we
- have completed 67 , 043 transactions on line , with a total dollar value of over
- $ 25 billion . enrononline is now the largest ecommerce site in the world .
- we believe that the competitive success of enrononline is due to one very
- specific reason . in addition to providing a web - based platform for
- transactions , enron acts as principal to provide direct liquidity to the
- site . we stand ready at all times , in any market conditions , to buy and sell
- at the posted price . this converts a & bulletin board 8 ( the more typical
- ecommerce concept ) into a true market . there are very few , if any ,
- competitors that can provide this capability .
- we are increasingly convinced that this competitive advantage can be
- dramatically expanded to other products and other geographies . if we are
- correct , this could provide an enormous new opportunity for growth for enron .
- accordingly , we are initiating a major new effort to capture this
- opportunity . effective today we are creating a new business , enron net
- works , to pursue new market development opportunities in ecommerce across a
- broad range of industries . it is likely that this business will ultimately
- be our fifth business segment , joining transmission mike
- mcconnell , chief operating officer ; and jeff mcmahon , chief commercial
- officer . these individuals will comprise the office of the chairman for
- enron net works and remain on the executive committee of enron corp .
- replacing greg whalley as president and chief operating officer of enron
- north america is dave delainey , who will also join enron , s executive
- committee .
- global technology will remain intact but will now be a part of enron net
- works . it will maintain all of the same businesses and services as it did as
- an enron global function . philippe bibi will remain the chief technology
- officer for all of enron corp . and continues to be responsible for the
- development of worldwide technology standards and platforms .
- enrononline , headed by louise kitchen , will also remain intact and will now
- be a part of enron net works . the success of enrononline enables us to
- utilize this site as a model as we explore other markets . in addition , the
- following individuals are included in enron net works along with their
- current ecommerce initiatives : harry arora , public financial securities ; jay
- fitzgerald , new markets identification ; bruce garner , metals ; and greg piper ,
- pulp and paper .
- over the next several weeks we will complete staffing and organizational
- design and will provide full details on this exciting new business
- opportunity .
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