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Raptor Review Meeting
March 15, 2001 - 2:00 PM
Participants: Ken Lay, Jeff Skilling, Andy Fastow, Vincent Kaminski, Risk Team
14:00:05 Ken Lay: Welcome everyone to this review meeting. Let's start with Vincent's presentation.
14:00:15 Vincent Kaminski: Thank you. I've prepared a detailed analysis of the Raptor transactions. There are several concerns I need to raise about the accounting treatment.
14:00:30 Andy Fastow: Before you proceed, I want to note that these structures have been reviewed and approved by our auditors.
14:00:45 Vincent Kaminski: I understand, but the numbers don't add up. The hedges aren't properly structured, and there are significant risks being hidden.
14:01:00 Jeff Skilling: Let's focus on the facts. The market understands our strategy, and these structures are standard practice.
14:01:15 Risk Team: We've identified several red flags in our review. The risk exposure is much higher than reported.
14:01:30 Ken Lay: This is concerning. Andy, can you address these specific points?
14:01:45 Andy Fastow: The structures are complex, but they're fully compliant. I can provide additional documentation.
14:02:00 Vincent Kaminski: The documentation doesn't match the actual transactions. We need to disclose these risks.
14:02:15 Jeff Skilling: Let's take this offline. We'll schedule a follow-up with the auditors present.
14:02:30 Ken Lay: Agreed. Meeting adjourned. Thank you all for your time.
14:02:45 [Meeting Ended] Duration: 2 minutes 45 seconds
14:30:00 [New Meeting Started] Emergency Board Meeting - Raptor Concerns
14:30:15 Ken Lay: I've called this emergency meeting to address the concerns raised about Raptor. We need to ensure we're handling this properly.
14:30:30 Board Member 1: What exactly are these concerns? We need full transparency.
14:30:45 Vincent Kaminski: I've prepared a detailed report showing how the Raptor transactions are masking significant losses. The hedges are not properly structured.
14:31:00 Andy Fastow: I must object to these allegations. All transactions are properly documented and approved.
14:31:15 Board Member 2: We need an independent review. This is too important to ignore.
14:31:30 Jeff Skilling: I agree with the need for review, but we must maintain market confidence during this process.
14:31:45 Ken Lay: We'll commission an independent review. In the meantime, let's ensure all documentation is properly maintained.
14:32:00 [Meeting Ended] Duration: 2 minutes
Slack
# general
# raptor-discussion
# risk-assessment
# board-updates
# finance-team
# general
Company-wide announcements and work
KL
Ken Lay Today at 9:30 AM
Good morning team! Let's have a great day ahead.
JS
Jeff Skilling Today at 9:32 AM
Morning everyone. Quick reminder about the Raptor review meeting at 2 PM.
VK
Vincent Kaminski Today at 9:35 AM
I'll be presenting my concerns about the accounting treatment. Please review the documentation I shared earlier.
AF
Andy Fastow Today at 9:40 AM
Looking forward to addressing any questions. The structure is solid.
RT
Risk Team Today at 9:45 AM
We've completed our preliminary review. Some red flags to discuss.
JS
Jeff Skilling Today at 9:47 AM
Let's keep the discussion focused on the facts. The market will understand our strategy.
VK
Vincent Kaminski Today at 9:50 AM
I've shared a detailed analysis in the #raptor-discussion channel. The numbers don't add up.
AF
Andy Fastow Today at 9:52 AM
The accounting treatment is approved by our auditors. Let's discuss this in person.
KL
Ken Lay Today at 9:55 AM
Team, let's maintain professionalism. We'll address all concerns in the meeting.
RT
Risk Team Today at 9:57 AM
Moving this discussion to #risk-assessment. Please join us there.
Message #general
Jira
In Progress
High
ENRON-123
Review Raptor accounting treatment
Assigned to: V. Kaminski Updated 2h ago
Blocked
Critical
ENRON-124
Fix Raptor documentation discrepancies
Assigned to: A. Fastow Updated 1d ago
To Do
Medium
ENRON-125
Schedule risk assessment meeting
Assigned to: Risk Team Updated 3d ago
Done
Low
ENRON-126
Update quarterly financial projections
Assigned to: Finance Team Updated 1w ago
In Progress
High
ENRON-127
Review board meeting minutes
Assigned to: K. Lay Updated 4h ago
Blocked
Critical
ENRON-128
Audit Raptor transaction records
Assigned to: Internal Audit Updated 2d ago
To Do
High
ENRON-129
Prepare SEC filing documentation
Assigned to: Legal Team Updated 5h ago
In Progress
Medium
ENRON-130
Update risk management policies
Assigned to: Risk Team Updated 1d ago
Done
Low
ENRON-131
Archive old transaction records
Assigned to: Records Team Updated 3d ago
Blocked
Critical
ENRON-132
Review special purpose entity structures
Assigned to: V. Kaminski Updated 6h ago
PagerDuty
Incidents
Services
Teams
Schedules
Active Incidents
Critical
Raptor Transaction System Down
Raptor Core Assigned to: Andy Fastow Started 15m ago
Critical
Database Connection Pool Exhausted
Database Cluster Assigned to: DBA Team Started 5m ago
Warning
High Latency in Risk Assessment API
Risk Management Assigned to: Vincent Kaminski Started 45m ago
Warning
Memory Usage Above 85%
Trading Servers Assigned to: Infrastructure Team Started 30m ago
Info
Scheduled Maintenance: Database Upgrade
Infrastructure Assigned to: IT Team Starts in 2h
Info
New Deployment: Risk Assessment v2.1
Deployment Assigned to: DevOps Team Scheduled for 4h
Resolved
Trading Platform Authentication Issue
Trading System Resolved by: Jeff Skilling Resolved 1h ago
Resolved
Network Latency Spike
Network Resolved by: Network Team Resolved 2h ago
March
15
2024
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