Hey, I did just as you said you said and it worked! Thanks for posting this you are a life saver
OK. I searched a few other resources and I was able to solve my dilemma (I'm sure I will have future dilemmas though ).
As I understand it, and I could be wrong, when NMM is installing itself, it wants to install in a folder called 'Games'. I had manually created that folder this morning, in response to the prompt of the error that was generated (see my first post). After looking around a bit more on the web, what I decided to do was to delete the NMM and start over, keeping the C:\Games folder I created this morning. When I re-installed NMM, everything extracted as it should and it opened correctly.
I suspect that NMM assumes that every PC has a folder named 'C:\Games', which may not be the case when one purchases 90% of one's games from Steam (as I do).
So for anyone else that may have this problem, try creating a folder called 'Games' on your C drive, deleting your initial install of NMM and try re-installing it.
Thanks again for the help Harry1982.
My pleasure themoonbear45. I am glad I was able to contribute. Enjoy Skyrim.