I just watched Memento the other day, and it's definitely become one of my favorites. As anyone knows who has seen it, it's quite complex and ambiguous. I don't have it 100% figured out yet, (Nolan claims there ARE definite answers) but I have a little theory that I think most people miss. potential spoilers. Teddy seems to be the owner of the discount inn, where Lenny is staying. It's pretty clear that Lenny has been at the Inn for a long time, and teddy wants to keep him there. Lenny was talking to teddy on the phone before he went to kill Jimmy, and we find out he was in the discount Inn. Teddy encourages Lenny to go get a room in the DI after lenny first leaves Natalie's house. Lenny then goes and gets another room. Later, the hotel desk worker accidentally takes him to his old room and says his boss instructed him to try and sell Lenny another room. At the beginning (chron end), Lenny calls Teddy "Officer Gammil" in the hotel lobby, and Teddy looks nervously at the desk worker to see if he noticed what Lenny called him. Furthermore, when Lenny asks to take Teddy's picture, Teddy insists that he stand where the hotel is not in view and asks that Lenny write his name as Teddy and not "officer Gammil." It seems that Teddy is running a drug dealing operation out of the Inn and is in competition with Jimmy/Ferdy's bar.