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Don... Chuck updated me on the status of our discussions re.
trading and creating a TradersNews Energy product on EOL.
I fully understand that corporately, you have a lot on your plate right now and we will be patient.
I would like to meet with you in a few weeks when the dust settles a bit.
I do have a one quick question.... My sources indicate that Enron has agreed to place a Megawatt-Daily Cinergy Hourly product on EOL within 2 weeks.
Is this a true statement?
| Hang in There! |
Let's look at their lifestyle: No premarital sex.
No oral sex.
Giving or receiving.
Never.
No booze.
None.
No TV.
No cable TV.
No Spice channel.
No Playboy channel.
No Hooters.
"What is this Hooters of which you speak ?!?"
No titty bars.
No organized sports of any kind.
That's right-no sports.
The women have to wear baggy dresses and veil's.
Women have to cover up everything!
Very, very, very few cars.
Camels.
Many camels.
Sand.
Fucking sand everywhere!
More sand.
Ever fish at an oasis?
Rags for clothes and hats.
Bar-B-Q's are cooked over burning camel dung chips.
Eating with your right hand only-because you wipe your ass with your left hand.
Constant wailing from the asshole next door ... no wait, is that music?
Shit!
I can't tell.
Oh, by the way, when you die it all gets better!
| Taliban life |
I am putting the MAPP machine between you and Mark at 413/412.
The Dynegy PC is setup on your 4th monitor.
You will have 3 other monitors for your normal system.
Is this all correct?
Let me know,
| MAPP/Dynegy PC's |
Here is a reminder about the Holiday Ball ticket.
To those of you on Pat's list I apologize for the duplication of information.
Mary G. Strickland Dear family and friends, The Tickets for the Holiday Ball are going fast.
If you have not thought about it or just have not gotten around to it, please remember; The third annual, League City Historical Society Ball November 17, 2001 South Shore Harbour Resort Hotel Cocktails and General visiting, 6:46pm Gourmet Dinner, Program beginning at 7:30pm Master of Ceremonies, The Honorable Sheriff of Galveston County Gean Leonard, and his co-hort in crime the more Honorable Cheryl Leonard special appearance by the "well surprise entertainment" well ok, Dr. Doug Yost, a hypnotist of renown, and very funny!!
Silent Auction: Dixie Chicks Rodeo Tickets, Astro opening game tickets, Resort homes on the Beautiful Guadalupe River, Tremont Hotel Package, and more and more and more!!!!!!!!!
Dancing to the 107.5 oldies band Dress is everything from "Let it snow attire to After 5, Black tie optional, (but some of us are wearing the tux, its the only time of year to do so, hahahaha) Tickets are only $50.00 and a chance to see and be with all your friends.
| Holiday Ball |
Pat Hallisey ws kind enough to pass on this information.
Just a note that our good friend Cathy Pauls (acacia north) passed away yesterday morning.
Visitation is at 10-11 Sat.
morning with a mass at St. Mary's catholic church at 11:00am.
This is all the info I have but Cathy was loved by all that new her.
She will be sadly missed.
Pat Our thought and prayers are with the family.
Mary G. Strickland
| Kathy Pauls Visitation/Mass |
On November 17, 2001 between 01:00 and 05:00 Entergy will be switching to an OASIS node provided by ESCA.
During the outage customers will NOT have access to the current OASIS site provided by MAIN.
Once the OASIS comes back online there will be a link at the current OASIS site provided by MAIN that will direct customers to the new OASIS site provided by ESCA.
Once the new OASIS node is up, the customers should not have any trouble accessing the site.
You have received this email because your email address is listed as a valid customer email with Tradewave.
If you feel you have received this email in error, please contact your system administrator and have your profile changed or removed from Tradewave.
Entergy Transmission Operations
| Subject: Entergy OASIS outage between 01:00 and 05:00 CST on 11/17/2001 |
Don, Wanted to e-mail you what schedulers are doing what regions so your hourly guys will know for scheduling problems.
Cinergy- Pat Hanse TVA/SOCO/Florida/JEA- Larry Campbell Comed- Ashish Mahajan Entergy- Gretchen Lotz MAPP- Matt Lorenz PJM- Lisa Burnett Nepool- Anubhav Aggarwal I back up every region, so when in doubt, they can call me.
Thanks,
| scheduler's by region |
=20 INVESTools FREE REPORT: 10 Stocks to Help You Make It All Back!
LAST-BES= T Buying Opportunity of the Decade!
Are you still listening to the Bea= rs of Wall Street?
Or telling yourself to wait until it's "safe" to jump ba= ck into the market?
If so, be warned: at this very moment, the Bears are= taking maximum advantage of your fears and uncertainty about the market!
= The smart money on Wall Street has an obvious strategy: To keep YOU out= of the market as long as possible while institutional money managers and m= utual fund managers scoop up all of the great stocks at fire sale prices.
O= nly after they have properly positioned themselves in the market will they = announce that they're bullish (but by that time, it will be too late for yo= u to get your share of the pie, and grab the best profits from the recent m= arket drop.)
"The next Bull Market is already underway," begins Don Rowe, = editor of The Wall Street Digest.
"And investors who are fully invested in = the right stocks have a chance to double their wealth in Phase Two of this = amazing Technology Revolution!"
"Since the market first bottomed on Ap= ril 4th, 335 stocks have posted 100% to 1,700% gains.
Since the September = 21st bottom, 130 stocks have posted 100% to 1,905% gains.
Right now, the t= echnical indices and fundamentals are more bullish than they've been in 25= years: paving the way for an "Economic Superboom" over the next five year= s!"
-- Don Rowe - Wall Street Digest In a Special Investment Rep=
| 10 Stocks to Help You Make It All Back! |
Don, AEP has informed us over the past couple of nights that they MUST HAVE tag numbers in order to do next day checkouts.
They claim that this has always been the case but we know that in the past we have not needed the tag #'s in order to check out.
It appears AEP enjoys being difficult.
So it looks like going forward we will need tag numbers from the schedulers in order to check our properly with AEP.
Seely
| Next Day Checkouts with AEP |
As of 11/21/01 I will be moving on.
I consider it to be a honor to have had the opportunity to work with such fine people.
I hope that we will all keep in touch.
Sincerely
| adios |
All, The Enpower Database is in need of some routine maintenance and clean-up.
The work is designed to improve performance and expandability for the future.
We were hoping to utilize the Thanksgiving holiday to perform some of this work.
What we need from you guys is permission to have some agreed upon downtime for Enpower over the holidays so we can run some clean-up jobs on the database.
However, we do need to execute the jobs in such a way as to have a minimal impact on the Real Time trading desks.
Here is our plan as was previously discussed with David Poston: Wed Nov 21, 8pm - 10pm Central (6pm - 8pm Portland), for unrelated hardware maintenance Beginning Saturday thru Sunday, rolling 3 hour outages: (NOTE: during the below times, the system may not actually be totally down, but error messages may occur so don't be alarmed) Starting Saturday morning at 10am (8am Portland Time) we will be contacting the East & West Real Time Desks to determine if they can afford a 3 hour down-time window.
When the clean-up job is completed, we will contact the related desks that the Enpower application is now available.
We will then want to keep the environment stable for at least an hour to allow the traders to catch up from the down-time.
We will repeat this process during the following time periods.
Saturday, November 24nd from 10am (8am Portland) - Saturday, November 24th @ 6pm (4pm Portland) Saturday, November 24nd from 8pm (6pm Portland) - Sunday, November 25th @ 8am (6am Portland) Sunday, November 25th from 10am (8am Portland) - Sunday, November 25th @ 6pm (4pm Portland)
| Enpower weekend maintenance - down times |
=09 =09 Dear Don, The Washington bureau will have a full plate when we= return from Thanksgiving break.
Congress returns with many lawmakers urgi= ng action on energy legislation before the end of the year.
Washington Bur= eau Chief Peter Cook says there's a long list of legislation ahead of energ= y in the Democrat-controlled Senate, but Republicans are threatening to for= ce a vote through a filibuster.
In turn, Democrats are saying they'll fili= buster any energy bill containing a provision to open Alaska's Arctic Natio= nal Wildlife Refuge to drilling.
The legislation battle continues next wee= k. Peter also says the Washington bureau will continue to follow the FERC= 's major decisions regarding how it assesses market power.
The Commission = announced a major change this week that will impact many of the large and s= mall utilities across the country.
Also next week, we'll see what Energy = Daily Publisher Llewellyn King has to say about Pat Wood's performance as C= hairman of the FERC.
And rumors are flying about DOE Secretary Spencer Abr= aham - on Monday, King talks about the whispers he's hearing in Washington.= ENL's Gale Smith will have a report from the Houston bureau next week on= a Louisiana company that uses rice hulls to create power.
Agrilectric Inc= orporated consumes some of this power, but most of the electricity is sold = to an area utility company.
We'll have details next week.
Also, Houston = Correspondent Kim Benestante will bring us coverage from the Alaska Resourc= es Conference taking place next Thursday and Friday.
We'll also bring you = details on the final report regarding the chosen route of the Arctic natura= l gas pipeline.
The report is due to Alaska's Governor on November 30.
W= e'll hear from Center for Energy Efficiency and Renewable Technologies Exec= utive Director John White next week.
ENL's Kym McNicholas will speak with = White about his organization's opposition to the state's long-term power co= ntracts.
Catch White from the West Coast bureau next week.
Closing Price= s for Nov. 21, 2001: Crude: $18.96 Unleaded: $0.5273 Heating Oil:= $0.5342 Natural Gas: $2.813 Keep in mind things are subject to change= at a moment's notice.
Occasionally guests have to cancel or change time sl= ots.
We'll continue to do our best to keep you updated on future interview= s and events.
Have a great Thanksgiving break!
We'll see you on Monday.
=
| Williams Energy News Live -- today's video newscast |
The last I heard, the MISO is supposed to begin offering service on their OASIS tomorrow for service starting January 1.
I wanted to let all of you know a bit about where we stand with regards to that process.
I have been working with several different folks here and at the MISO to ensure that we are ready to do business with the MISO and request service.
The MISO OASIS seems to be accepting our Tradewave Certs, so we just need to get our MISO login for their systems.
Today, the MISO will be sending out logins to their systems via FedEx, and should arrive prior to 10am.
Christi Nicolay will be receiving this information and distributing it as soon as it arrives.
Unfortunately, the MISO has been (as you probably know) cutting things closer and closer to the edge.
This login was supposed to be delivered a couple weeks ago, but they have just gotten around to sending it out.
Hopefully, we will not have any problems with it once it arrives.
As I understand it, there should be only one login set up for "EPMI 24-Hour Operations," with a login of "Enron."
The password is currently only known by the MISO, but should be contained in the letter we receive tomorrow.
This login is a temporary one until we complete our final registration.
This final registration has been a bit more of a pain, as it has involved contractual agreements and credit obligations.
I am still working with our Legal, Credit, and AP folks to get everything set up.
Again, the MISO sent the final documents out fairly recently, and we have not had a great amount of time to review, analyze, and negotiate their terms.
Hopefully, we will have come to agreement with MISO about those items, and be able to file that final application soon.
If you have any questions or concerns, you can reach me at my desk (X53771) or via my cellular (713-927-4680).
Obviously, you can also call Christi (X37007) or Susan Lindberg (X30596) as well.
| MISO Registration |
In regards to the billing of Enron related OATI services please complete the following starting February 1st.
Entity EPMIE - Enron Power Marketing, Inc. PSE Name EPMIEA.
Please change the billing contact from Lloyd Will to Bob Hall (7138536956), the billing address is the same.
Please also reduce the number of accounts from 40 to 10.
Entity MDEA - Mississippi Delta Energy Agency.
PSE Name MDEA.
Please change the billing contact from Lloyd Will to Bob Hall (7138536956), the billing address is the same.
OATI WebOasis tool Please change the billing contact from Lloyd Will to Bob Hall (7138536956), the billing address is the same.
(Used for TVA, Big Rivers, Associated & East Kentucky.)
Entity ENSE - Enron SE .
CA Name ENNA We no longer have these control areas but require access to the account for final reporting reasons.
Please change the billing contact from Lloyd Will to Bob Hall (7138536956), the billing address is the same.
Please contact me at 713-853-3383 with any coordination or additional details.
Thanks.
| OATI SERVICES |
I WAS GOING TO DRIVE JESSICA OUT TO CALI- JAN 27-FEB 1 (THIS IS ALREADY IN THE SCHEDULE) .
LET ME KNOW IF YOU WOULD LIKE ME TO WORK ANY OTHER SHIFT BEFORE JAN 27TH.
IT'S NO PROBLEM, ESPECIALLY WITH THE CURRENT SITUATION.
I WOULD BE BACK ON SAT FEB 2ND FOR WORK.
IN MID FEB, MY FOLKS ARE COMING IN FEB 17 AND LEAVE ON THE 24TH.
IF YOU NEED ME DURING THAT WEEK IF YOU'RE IN A BIND, WITH THE EXCEPTION OF FEB 19-21, I'M PLANNING ON BEING IN NEW ORLEANS.
I'M FLEXIBLE.
THANKS AGAIN, JOE
| DON--I THOUGHT I WOULD GIVE YOU MY TIME OFF NEEDED |
Transmission Customers: Since FERC did not act on our September 11, 2001, PJM West compliance filing (Docket No.
RT01-98-000) at its December 19th meeting, Allegheny Power (AP) will need to delay the start of the PJM West arrangement until March 1, 2002.
In order to accommodate the further delay in the start date, AP will need to sell transmission service under the AP OATT and on the AP OASIS for the month of February 2002.
To accomplish this, AP will do the following: * AP will attempt to call the Transmission Customers that have "confirmed" point-to-point transmission service reservations on the PJM OASIS for the paths that are not currently valid for PJM (AEP and DLCO) by 4:30 p.m. on December 21 to determine if they need comparable service on the AP system.
If that is the case, AP will honor the "confirmed" reservations and the PJM OASIS timestamps.
* Yearly service that was not given the option to exercise roll-over rights on the PJM paths (AP to PJM and PJM to AP) will be given the option to extend that service through the month of February.
AP will attempt to call these Transmission Customers by 4:30 p.m. on December 21.
* ATCs for the month of February will be uploaded to the AP OASIS starting at 8 a.m. on December 24.
The upload will include all valid AP paths (AEP, PJM, VAP, FE and DLCO).
* Transmission Marketing will post a message on the OASIS when the ATC upload is started and when it is complete.
* Transmission service beyond March 1, 2002, will continue to be sold by PJM per the Interim Coordination Agreement that was filed with FERC on February 12, 2001.
* January 30, 2002, is the last scheduled FERC meeting in January.
If FERC does not act on our filing at that time, the start of the PJM West arrangement may then be delayed until April 1, 2002.
Further information will be provided at that time, if necessary.
| PJM West Implementation Delay to March 1, 2002 |
Hey Don!
How are you doing?
Feeling o.k.
today.
It was nice meeting you!
I wanted to follow up on our conversatian regarding the in house counsel that you may know.
Any info.
that you could send my way would be tremendous help.
I realize there might be a slim chance to get into anybody but it doesn't hurt to try huh?
I'm actually fasinated that you are still employed with Enron.
That has to be a huge success for you right now.
I wanted to fresh your memory on what I'm exactly looking for.
I am looking for the person who is in charge of vending out Enron's litigation support.
Who will be doing the copying of the documents that Enron has.
If you could poke around for me, that would be awesome!
My phone # is below so if you need to call me please do so.
If you want to e-mail that is fine too.
Have a great day off and thanks again for your help!
| follow up |
All, We have migrated many Enpower applications successfully on Saturday the Dec 8, 2001 for Pwr_Deal_Strips table change.
Please re-login to Enpower system for updates.
For further queries, please call me at X57926.
Thanks.
| Please re-login to Enpower Application |
I have spoken with Calger about us going through the West Power contracts with his team next Tuesday through Friday.
They are gathering an extended set of information (including the items on the current matrix) on their top 25 exposures.
The top 25 exposures include the top exposures under Master agreements and in many cases include numerous contracts.
Chris said that the 26th exposure was about $10MM and one would need to get to about the 50th exposure to get below $1MM.
I asked him to forward down whatever they had completed to date so we could get educated and keep a central file.
He is also going to forward a call in number for a conference call tomorrow so we can begin to get educated on the current effort.
Lorraine Becker (ext.
31680) will be handling travel arrangements.
Please forward your credit card # so she can complete the reservations.
(P.S.
Piper is getting verification from Bowen regarding travel expenditures.)
| West Power |
Once again we have had some vandalism in CCV.
It is a shame to put all of your hard work into lighting up the yard and have you decorations vandalized.
Police reports have been made and extra patrols are being added.
Please call the police and let us know if you see or have any vandalism.
This time Peggy Zahler has had her light wires cut twice.
It is not the time taken to put up the lights or the money and time required to get new lights, it is the aggravation and the simple feeling that you are being taken advantage of.
We take pride int the fact that Clear Creek Village attracts a lot of attention during the holidays because you all do such a wonderful job of decorating.
Please be watchful and call League City PD.
Thank you.
Mary G. Strickland
| Vandalism in the village |
You have received this message because someone has attempted to send you an e-mail from outside of Enron with an attachment type that Enron does not allow into our messaging environment.
Your e-mail has been quarantined and is being held at the MailSweeper server.
Sender:
| An Inbound Message For You Has Been Quarantined |
Hello ATW User Group!
OATS WILL BE UNAVAILABLE DECEMBER 29 Below is a message that was sent out by Alex Salpter of the EPA this morning.
The scheduled shut down of the OATS system should be planned on so that you don't find yourself in a last minute attempt to transfer allowances online and not be allowed.
As mentioned below, this especially affects NOx compliance since December 31, 2001 is the last day to transfer allowances in NATS.
Please review and prepare.
Best Regards,
| Access to EPA systems - OATS and ETS |
Subs are needed for Bingo on Saturday, January 12, from 2-3:30 p.m. at the Artia.
Call Diana Denton at (281) 580-6310 (work) or (281) 370-6765 (home).
Thanks.
| Atria sub needed for Saturday (tomorrow) |
Guys, I want to clear up a couple of points: a) if you had received a retention payment in early December with a date that expires Feb 28 - that retention payment will not be at risk in any way if you do not work for NETCO or if you choose to join the effort towards NewCo.
That payment was made on behalf of the Enron estate to ensure critical operations are completed and key people are retained; b) we are working to provide, as per our discussion this am, a new retention package for estate (and NewCo) employees for the next 90 days that should be forthcoming in the next several weeks; c) you are not in breach of your employement agreement by working towards NewCo versus Netco or the overall estate regardless of which company wrote or sponsored your original contract (ie) ENA , EES, EGM, etc.
These are all Enron assets; and d) I envision that NewCo upon it formation will have its own compensation plan which will provide competitive base salaries, a bonus program consistent or better than Enron's or possibly similar to what is being discussed about Netco, an equity participation plan, employment agreements and a competitive benefits package.
By copy to Jeff McMahon, I wanted everyone to know this is consistent with the overall message that I have been receiving.
Regards
| Retention Payments et al |
The 2001 results of Natural Gas Marketer Customer Satisfaction by Mastio & Company.
Mastio & Company's Vice President, Bart Thedinger recently appeared on Williams Energy News Live to discuss the results of Mastio's most recent report on Natural Gas Marketer Customer Satisfaction.
Which gas marketers excel in customer service?
Click here (www.mastio.com/press/mk5video.html) to discover the results of what key decision makers who purchase nearly 90% of the natural gas sold in North America think.
"Customer Satisfaction Matters with Winning Companies"
| Williams Energy News Live Interview on Mastio's Natural Gas Marketer Customer Satisfaction Study |
Fallon has requested a DPR be prepared 2X a week for positions that we are executing on (active/live positions only, no terminations or deals we are not executing on).
We have put together the shell of how this DPR will look.
To start this process we are planning to present to him positions (column E) and PRM value (column X) as of 1/23.
To do this, we have laid out the following steps: - we need to get the PRM values directly from you (column X) - we will run the benchmarks and need to work with you to ensure you are happy with the benchmark numbers we have pulled from RMS (the exception is gas, we need the gas risk group to provide the gas bench to us) - we need all of then exceptions/qualifications to your numbers - we will need the other information in the schedule to be reported to us starting next week, but not for this exercise Please confirm to me/Shona that you can get us this info by 230 pm today.
Lastly, I am attaching the unofficialized book list as these books will not make it into the benchmarks and need you to confirm that there are no 3rd party positions in these books.
Thanks in advance
| DPR reporting for 22nd trading due today - request by Fallon |
Sally - Thanks for your call.
Attached is the Gas Risk data Jeff provided me today.
I may not have mentioned it in our conversation, but Louise is also looking for a brief explanation as to why a person should be nominated for a promotion.
For any promotions you propose, please develop a few bullets to explain the reasons for this action.
Please call if you or Bob have any questions.
Thanks - Tana
| Gossett Promotion Data |
Here is the final schedule.
I believe our next step will be to split this information by counterparty.
I'll get back to you with a plan on how to do this.
If you have any last minute changes, let me know.
Also, please review the qualifications tab for further information.
Thanks for all your work.
Regards
| Final 11/30 for today |
Just a quick note to all that these employees are finally getting somewhere and getting the much needed forms and information they need.
Thanks to all who helped!
Sabra Dinari
| Benefits for Terminated Employees |
Bob, We all realize these are difficult times and we must all adjust and work together but I would like to make you aware of the recent support changes that pose some issues for Logistics.
We are told that the Solution Center is not available after 7:00 p.m. Monday through Friday nor are they available on the weekend.
We are continuing to schedule gas in Logistics albeit on a limited basis during these after hours so is there anyway IT can manage to provide some level of support?
We appreciate your efforts to work with us to develop a solution.
Regards,
| IT Support |
Attached is a document relating to confirmations and settlements functions, opportunities, and key dates.
Let me know what changes you would like to see and we can incorporate into the document.
Thanks, Leslie
| NETCO presentation |
On Friday January 11, 2002 from 8:30 a.m. till 1:00 p.m. we will be meeting in room 49C4 of the 1400 Smith Street Enron Building.
This is the first of several meetings between the Dynegy and Enron Information Technology (IT) departments.
The purpose of the January 11th meeting is to discuss the IT services to be provided by Enron and its affiliates to Dynegy/NNG under the transition agreement.
The term of the transition agreement is from February 2002 through June 2002.
This meeting will give us the necessary details to begin activities beginning the first of February, subsequent meetings will prepare us for June activities.
A document has been prepared incorporating the following information for discussion: ETS Pipeline Map ETS Business Process Flow ETS Core Application Environment ETS Systems Diagrams ETS Server Summary ETS Business Continuity Plan Summary Ardmore Data Center Layout ETS IT Organization Chart Appendix ETS Reliability Monthly Report (template) ETS Application Volumes Application Inventory ETS Server Inventory ETS Server Inventory Software List Other items for this discussion will include: software licensing interfaces (i.e.
from NNG to Dynegy for financial consolidation) security and system access, especially as related to those Enron employees who will become Dynegy employees on February 1, 2002 When our Dynegy guests arrive please ask the security desk to call Lillian Villarreal (713) 853-7092, to escort you to the meeting room.
Thank you.
| NNG Transition Meeting. |
Sally - I have talked with Jeff Gossett and Bob Superty regarding possible promotions in their groups, but have not talked to any other group leaders.
Please let me know if you would like to be the contact for any of the groups or if you would like me to get that information from group Directors.
You can reach me on my cell at 713-503-7912 and I will be working late tonight.
Thanks for your help - Tana
| Promotion Request |
I left off three Operational Analysis people who recently moved to ECS from ECN.
They are at the bottom.
Hopefully this is the last change!
| ENW in ECS - Revised Again |
Would you be available to meet on Friday, Jan 11th at 10am to review the new cash approval tool and the associated processes?
We are trying to get everyone up to speed the week in an effort to implement starting Monday.
Location: EBN 2750 Please advise Sheila
| Meeting to Review New Cash Approval Tool & Processes |
Sally, I know that we added Leslie Reeves, Christina Valdez adn Israel Estrada on Thursday but I was not sure who they replaced.
Can you provide me with the names of the employees that they replaced.
Thanks Sally!
Mandy
| Changes to List |
Sally, As we briefly discussed yesterday - can we chat about identifying ENW resources for each of the Business Units in Jim's world.
Basically in 3 groups - IT Infrastructure, IT Systems Development/Maintainence and Operations Spport.
I'm trying to compile a overall Headcount Summary - by Business Unit.
Both bodies & $.
We also need to touch base on the 3/4 EBS move planning stuff.
B.
| Networks Support for Wholesale Business Units - Headcount & $ |
We are in the process of preparing a list of all changes to the NETCO as of Friday.
These would most likely be people that were offered jobs, turned them down and were replaced.
I don't think we have had very many of these yet but I just wanted to verify.
If you could get back with me today that would be great.
John Lavorato is wanting this report by Tuesday am.
Please feel free to call me if you have any questions at 713-516-0324.
Thanks!
Mandy Curless
| Changes since Friday |
We met with Mike Deville on Friday and discussed issues surrounding ENW's cash forecast.
As a result of updated information, we would like to amend our cash forecast as shown in the attached.
The attached file has also restated salaries and related expenses to reflect Netco employees in January (as you had adjusted our file).
The file does not reflect any allocations out.
Kerry Roper (x5-4895)
| Revised ENW Cash Forecast |
Looks like we have an issue with RisktRAC access.
In order to be able to set up books in RisktRAC, the only role that currently exists is the Risk Controls group, who has access to all books, hierarchies etc (all groups, all commodities).
With NetCo coming on line, the Risk Controls group has been asked to approve RisktRAC access to the new NetCo controls group so they can set up the new gas books that have been requested.
I am uncomfortable granting access to NetCo personnel, as they would be able to see all the estate info, including Europe, EIM, EGM, ENA etc.
Also, it is my understanding that the IT groups are working on splitting out the systems but will not be able to do so until after these books have to be set up (deadline for them is next Monday).
As such, I recommend the following: In order to ensure there is a segration between NetCo and the estate, until the systems are segregated, the IT groups should be responsible for setting up books, curves etc.
How does that sound?
Thanks
| NETCO access to RisktRAC |
I hope you are all having a nice weekend.
With everything going on these days, I'm not sure if you have someone earmarked for taking over the responsibility for gas risk.
I would like to let you know I would like to perform that function in addition to my regular responsibilities.
Thanks,
| gas risk |
Want to clarify if the Estate has the right to do a services deal with a 3r= d party with our copy of the licenses after the NetCo deal is done.
=20 =20 Here is the issue (as per an old draft of the Assignment and License Agreem= ent).
=20 In the current deal, Enron assigns, sells, transfers and conveys to NetCo a= ll of the rights, title and interest in and to the software and intellectua= l property rights.
In other words, NetCo will be the owner of the Enron de= veloped applications or software including EOL, TAGG, ERMS, DCAF, Sitara, U= nify, EnPower, etc.
Enron or the estate gets back a worldwide, perpetual, = irrevocable, nonexclusive, fully paid-up, royalty free license of all of th= em for any purpose.
I am not sure why the original deal was done this way = as opposed to Enron continuing to own all the software and just granting a = perpetual, royalty free license to all the applications to NetCo, but I rea= lize we are in the 11th hour.
=20 What it also says is that Enron shall not have the right to grant any subli= cense to any third party for use within the field of "wholesale trading of = natural gas and electricity within North America."
It also says that NetCo= can't, as long as Enron owns 20% of NetCo, assign or license the software = to any third party or use the software for any of the prohibited commoditie= s. =20 Is trading the act of buying and selling of the commodities?
Once a NetCo = deal is completed, we want to have NetCo and the estate agree that trading = is buying and selling, not service or fulfillment.
I would like the Estate= to maintain the right and ability to sub-license all the applications asso= ciated with logistics and settlement (not EOL or those systems associated w= ith buying and selling and order capture) to a third party that would have = the opportunity to build a mid and back office processing and service busin= ess around those sub-licenses in all commodities, including gas and power i= n North America.
The Estate may even outsource to this 3rd party and take = back a service agreement from this 3rd party as well as some of the future = profit it generates from this service company.
This would allow the estate= to get value for the applications and associated employees on a service de= al.
NetCo should not be concerned about fulfillment as being defined as co= mpetition.
Also, the estate is keeping CommodityLogic and it is much more = valuable as a tool within a complete services entity.
=20 I have not heard whether the final purchase and sale agreement has a non-co= mpete or not.
If there is not one, then doing the above should be no issue.
=20 Need an answer quick on if we need to change anything or if you think that = we have this right as written or if you think NetCo has an issue.
=20 Also, I assume that we can use our licenses within the estate and its affil= iates and subs any way we want in all commodities.
=20 Thanks.=20
| Licenses, services and NetCo Deal |
Thanks for coming over this afternoon.
Thought I would jot down what we heard from the meeting.
Please add, delete, modify as you see fit.
Thanks,
| Summary of Meeting |
George - This note is to confirm that Murray O'Neil's latest expense report (roughly $2,000) was for valid, POST-petition business.
He travels from Portland where he is based, to Houston, as needed, to work on Power settlements and volume management for EES, and these expenses are for airfare, hotel and meals for the week prior to the Christmas holiday.
Per our discussion, I assume that these were held up by the system due to the $5,000 limitation, for further review.
Please have a member of your team expedite the review of this expense report, so that it can be released today, if possible.
I assume that they will confirm to us that the report has been released so that Murray will no longer be behind in his expense reimbursements, since he will be traveling to Houston again (and therefore incurring expenses) on Monday.
I understand that Enron is not issuing cash advances, but that once the initial backlog of expense processing is done, that reimbursement will occur much more quickly, now that we are in the post-petition environment.
Thanks so much,
| Murray O'Neil's expenses |
Steve will be on vacation Monday January 7, returning to the office on Tuesday.
Scott Abshire will be in charge during Steve's absence.
Scott will be available by email on Blackberry, his office phone is 713-853-1460, and his cell phone number is 713-853-6780.
Steve will be available by email on Blackberry.
Thank you,
| Steve Hotte Vacation 01/07/02 |
Dave Delainey has asked me to set up a meeting for Sunday, January 20, 2002.
Please call Kay Chapman @ 3-0643, if you are unable to attend.
Thanks,
| Strategy/Infrastructure/People |
This org.
chart head count totals 135, with an additional 34 that should be included from Peggy Hedstrom's org.
chart sent from the Canada office which totals 169 for NETCO Energy Operations.
If you have any questions please contact Leslie Reeves @ X37962.
Thank you,
| NETCO Org. Chart |
Sally, FYI...
The attached spreadsheet details the funds I have gotten in from our Prime Brokers since October 25th.
$180 million relates to Gary Hickerson's Equity Trading area.
$80 million relates to other business units.
Sheila Summary Total 10/25-12/1 12/2- current Equity Trading 180,569,077 152,765,815 27,803,262 Other accounts 79,425,478 36,508,039 42,917,439 All accounts 259,994,555 189,273,854 70,720,701
| Prime Broker Cash Back to Enron entities |
Following is a very basic list of contracts we are currently expecting to perform to/serve as an ongoing concern in the estate.
This is not nearly the detail you need, but it's a start: Gas Retail Gas Book (900+ contracts behind 18 LDC's) Enovate/Peoples Contracts FPL Gas Agreements Midland Cogen Keyspan (Lilco) Dominion Oklahoma City of Tallahassee Oxy Miscellaneous wholesale contracts TBD Power West Retail Book (140+ Contracts, All-Requirements, avg.
1000MW load) West Whlse Book (32 Contract groups identified, @ 1000MW load too) Nepool Retail East Wholesale(Currently 19 contracts) Miscellaneous wholesale contracts not yet identified Other There will be numerous other "physical" assets that will be a part of this including: generation development sites Bridgeline/LRC Napoleonville Storage Michigan Asset Mgmt.
Sithe contracts East Coast Power contracts LNG contracts etc.
Sally has a hard-copy with a little more detail.
Several of us will be getting together either tomorrow or Sunday to put together as much of the infrastructure together as possible.
We're going to need at least a draft of the backoffice people and boxes.
We'd also like you to be a part of it if possible.
We'll send out an email/voicemail to let everyone know when/where.
| Infrastructure platform |
I have heard through several sources that AEP has purchased the Enron Nordic team in Oslo.
This creates several issues that we must address: Did AEP purchase any systems and/or contracts?
Are these employees still located in our office and if so are they assuming the building lease and associated expenses?
Do they still have access to our systems?
Who, if anyone, was not included in the AEP purchase?
Many of the deals were executed under ECTRIC - Nordic Branch; is this treated similar to ECTRIC?
Since ECTRIC still has not declared bankruptcy, we need to evaluate these portfolios immediately.
We probably do not have Commercial leadership in Oslo; therefore, we need to develop an action plan for that office.
I believe that there were only Power and Weather transactions managed by Thor Lien in the Oslo office.
If you have any questions or additional information for me, call at Ext.
31957.
Todd Hall
| Enron Nordic |
Dear Sally & Beth, We are already getting questions from different groups on how things will work in the new company (books, ERV, DPR).
They are all assuming that we are going with the new company.
I'm telling each of these groups that we are staying with the estate and as such, really don't know the answer to these qu's and are directing them to ask Jeff/Stacey.
Please let me know if either of you hear any info that would be of help.
Thanks
| questions that we are receiving |
Miss Meagan Worthing Beck.
Meghan's escort is Michael Austin Lyons.
Meagan's parents are Sally & David Beck.
Meagan is being presented by her father, David Beck.
Meagan & her mother, Sally, have participated in NCL for 6 years.
Meagan's offices include Vice President of Activities and she has received the Perfect Attendance Award.
Northwest Assistance Ministries was Meagan's favorite philanthropy.
In particular, she will remember helping distribute food to victims after Tropical Storm Allison and experiencing the immediate difference it made to the recipients.
NCL has allowed her to become friends with many different girls, whose friendships she will value forever.
As a student at Klein High, Meagan was a member of the Bearkadettes Drill Team and Spanish Honor Society.
She also is a member of Sugar Plum Cotillion.
Her college plans will include either the University of Texas, SMU or the University of Oklahoma.
She plans to major in Advertising.
Ladies & Gentlemen: Miss Meagan Worthing Beck
| Senior Commentary |
The target date specified in an open audit observation has been reached.
Click on the document link below to view the observation / action step(s).
Please provide action step implementation detail along with completion date and submit return response to Donna Lowry.
If you should have any questions relating to this audit, please call the Observation Contact listed in the following observation (document link).
Thank you.
NOTE: EACH E-MAIL REPRESENTS A SEPARATE AUDIT OBSERVATION.
Click on this link to view document -->
| "Project DoorStep" TARGET DATE |
Hi Sally, Wish you & your family a very Merry Christmas and a wonderful new year!
Hope everything is going well for you & you have been able to get sometime with your family during the holiday season.
I hate to bother you with this request because I realize you must be very busy; I was wondering if you had a chance to forward my resume to Ginger Gamble (at Reliant) and Carol Scherer (at Duke Energy).
The job market is really terrible right now and your recommendation will mean a lot for me.
Pl.
do let know if you would like me to resend my resume to you.
Best Regards,
| Merry Xmas & Happy New Year! |
Greg, Just as a follow up to our conversation, I have serious concerns about the estate's ability to service IT requests.
The number of people that remain in the estate, that understand the gas and power systems, is limited (and we're receiving resignations now).
With this in mind, I would like to have the ability to outsource the IT department (applications, infrastructure) and potentially the back office staff to a consulting company (potentially Accenture or CGEY).
We would need to move the estate employees into this company and incentivize them to stay.
The consulting company could then supplement the staff and the Enron estate employees could now have a career path at the consulting company.
To make this deal attractive, the consulting company would like to have the ability to create a services company and offer IT and fulfillment and processing services to other companies.
By the way, this could be done for other commodities outside gas and power.
The deal would have to include royalty payments to the estate for each additional services agreement.
The intent is to make the services company into a thriving business.
We would also want to sell Commodity Logic (IP included) to round out the services offering.
We could consider selling the IP to our EGM and EIM systems as well.
All in all, the intent is to bring value to the estate and support the estate while the businesses wind down or start up.
We must make sure that the NETCO agreement allows the estate to license the gas and power software in some capacity and continue to develop the applications.
As an aside, the estate cannot perform on the Bridgeline or AEP deals.
There are not enough resources that fully understand the system, therefore, we cannot maintain a fully operational production quality system.
These deals must either be moved to NETCO or we need to find another alternative (the above referenced services company or selling the software to AEP and Bridgeline).
I know this is long winded, but I needed to get these points down on paper.
I am on vacation next week, but can be reached on my cell phone at 713-240-0919 or at my house in Kiawah at 843-768-6651.
I'll also have my Blackberry but reception is poor on the island!
Have a great holiday.
Beth
| IT Plans for Estate |
I copied you on what I sent to Corp, but the attached file has more detail you might be interested in.
Let me know if you would like to sit down this morning and go over it.
Kerry
| Cash Forecast |
Greg (Adams), Attached is our cash forecast.
There are several important points to keep in mind with this forecast: 1.
This is our best guess at this point.
As other business units clarify their business plans, it will affect our activity.
Once their plans are set and communicated to us, we can better forecast our numbers.
2.
This forecast represents the estate only.
(Since that is what we discussed in the meeting on Monday) We have made no attempt to forecast NETCo since that has already been done and is seperate.
3.Infrastructures numbers are somewhat soft due to the Outlook problems experienced yesterday.
As they firm up or we get additional information, we can update numbers.
4.
We have not included any future severance or retainage payments as we discussed.
5.
I have included a tab which attempts to segregate costs by business unit.
Again, this is soft and will be better defined as the business units define their plans.
6.
I will be out of the office after today for a while.
If you have questions after today, contact Mike Galvan (x3-5439) or Kevin May (x5-2508) 7.
I have not put this file on the O: drive since it is being emailed.
Let me know if I need to.
Kerry (x5-4895)
| ENW Estate Cash Forecast |
Following up on today's meetings, it is critical that we have your revised 19-month Cash Budget as early in the day on Tuesday, December 18th as possible.
(This format file has been revised to correct some formulas on the first page.)
Revised/Detailed 19 Month Cash Budget - Due December 18th ASAP As with the version you submitted earlier this week, revenues, expenses and other items need to be presented on a "cash basis".
WE NEED A SUBMISSION FOR EACH BUSINESS UNIT EVEN IF THERE IS NO PLANNED CASH MOVEMENT WITH CORP. With the exception of payroll, benefits and related items, there should be no allocations in your expense figures.
Networks is working on an overall budget for the organization, and Corporate will budget for rent and insurance expenses (allocations back to the business units will be done at a later date).
If you have not done so already, please confirm with Corporate HR your current payroll and headcount levels and make any adjustments from that level going forward.
For those business units that have some entities in bankruptcy as of 12/12/01, we will need one file that consolidates all those entities in bankruptcy, and one file that consolidates those that are not.
If as part of the initial submission you had broken out your business units into different segments, please do so for this plan as well.
Where it is requested or noted (*) please provide detailed back-up information on the appropriate sheets.
Please do not add any rows or columns to the first sheet labeled "format" or "O&M_Detail".
We are hopeful that most of the additional information requested is readily available.
If you have any questions please call myself (3-3887) or Mike Deville (5-7852)
| 19 Month Cash Budget - Due December 18th |
Sally, here is the latest org.
chart for the NETCO Logistics team.
If the promotion recommendations I made are followed through then a few title changes will be necessary.
Let me know if you have any questions, tks - Bob
| NETCO Logistics Org. chart |
Please see the attached file for your respective area (by your last name) and make sure you're comfortable with your latest forecast numbers (excluding salaries).
I have added a Capex section for any groups that will plan on spending capital dollars.
Please be as detailed as possible.
Assume forecast dollars are only reflective of the estate.
For those ENW groups likely to have resources moving to NETCo, please include those forecast dollars in the "NETCo" tab.
E.g., If we need a total picture of Jenny's spend, we'll add the "Rub" tab (estate) with the "NETCo" tab Jenny submits.
Jenny/Beth P., A license / maintenance renewal schedule was obtained from GSS.
We put together a summary tab called "Lic-Main Breakout".
These dollars are reflected in your respective forecasts.
Please review for completeness and ensure we are not double counting any dollars already included by your folks.
Please confirm your respective numbers and reflect any changes you know of by end of day today.
Thanks,
| 19 Month Forecast Review |
Andrew, etal I wanted to provide an update on what people should expect on monday in respect to payment proposals.
We initiated test files on Thursday & Friday, to validate the distribution list and allow the BU Approvers & Delegates to get a feel for the data We experienced some email address issues that have been corrected.
There are some additional names that were provided late Friday that will be added on Monday.
If your name was added by Andrew on Friday, you will not receive the files until Tuesday.
Expect data by Company type.
Non-dip companies - Reports will include all unpaid open items that have not been blocked for payment.
You should be marking the items that you DO NOT WANT to pay in the file & forwarding it to George Wasaff.
We will only release the items authorized by the BU & the cash committee.
Dip Companies - We will not be running a proposal for the DIP companies on Monday.
We are still working with the BU's to ensure that they have properly blocked the pre-petition open items posted to the commodity vendors before sending the proposals for approval.
We expect to finalize this on Monday so we can start the process on Tuesday.
It is imperative that this activity be completed before initiating this daily process.
When we run these on Tuesday, I would not really expect that many items.
We have not begun to process the post-petiton non-trade invoices.
We have been working to establish a process for segregating these invoices as well and have blocked posting of December activity until everyone was ready.
We expect to open up December on Monday.
I feel very confident that we will be ready to initiate this process for the Dip Companies on Tuesday.
If you have any questions or concerns, please give me a call at 5-5301 or drop me email.
Thanks
| Status of monday's payment proposal runs |
Attached is a revised Credit Watch listing as of 4/23/01.
Please note that NUI Utilities, Inc. has been placed on "No Trades".
If there are any personnel in your group that were not included in this distribution, please insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond at x5-7095, or Brant Reves at x3-9897.
| Credit Watch List--4/23/01 |
Attached is an updated transitions list.
Please review and send any changes so I can update.
I will update again Thursday and will include a column for status.
We are in the process of drafting procedures which will have to become a formal protocol for AEP.
These are: Request for New/maintenance of counterparties.
Once Web page is developed, procedures will be completed.
Request for new portfolios (books) after close.
Drafting procedures.
Request for new employee security.
Request to change curve mapping in ERMS/CPS.
Drafting procedures.
Also, it appears the IT service agreement may have to be amended to cover the Web pages used to push operational data to customers (If AEP wants to continue the service) and the Tariff filing system we just put into production.
Also, we will need to resolve how we handle counterparties that Enron credit has request we suspend trading when AEP wants to continue trading.
We have had discussions with AEP about all of these issues and procedures.
| AEP_HPL Transition Issues |
As part of the HPL transition, we are reviewing imbalances on shipper contracts.
Attached below is the list and where we stand on reconcilations.
About 50% are reconciled, meaning that the counterparty agrees with our number.
Most we are waiting on information from the counterparty.
The big items are the imbalances with Duke Energy, Gulf Energy, and Tejas.
Rita and I have people working with these counterparties to get good information.
thanks
| HPLC Imbalance File |
Sally, Trying to remember your email so I can give you new contact info...here it is.
Sorry I missed your call.
I was here 'til after 10--you'd think
| Is this your email? |
Sally, One of the things that Greg Piper has asked me to do is to take a look at the rest of the year and get each of the VP's to assess their margins and EBIT for the remainder of 2001.
For Energy Operations, that is usually very easy since there has been no revenues, and all of the costs are allocated out, so there should be zero EBIT if nothing changed.
Given your present direction, however, you may be generating some margin in 2001.
Do you have a feel for an amount I can put into our analysis and will 100% of your costs continue to be billed out or will some be applied to this new activity?
I am hoping to put something together next week, so if you or a designate could let me know in a few days I would appreciate it.
Kerry Roper (x5-4895)
| Forecast for 2001 |
Sally, Here's the first draft of a presentation geared toward prospective customers for our mid and back office services.
The message is more of a fact-finding than sales message.
Would appreciate your feedback.
(Jeff Harbert has not given me his take on it as of yet.)
Thanks,
| Customers - Getting the Requirements.ppt |
In order to maximize the potential synergies between the various mid- and back- office functions, to decrease replication errors, and to increase communication standards; are there any plans of creating a platform or reference center to bridge the differences between the systems, processes, and terminology of the various departments.
Perhaps a common resource center offering access to on-line system manuals and business unit overviews (which currently exist only in paper form or in some cases within the actual system database).
The reason: With Enron's size and transaction volume, many of the functions and the data managed by various groups within Enron (i.e.
credit, risk, settlements, volume management, global contracts, global counterparties, global rates, and the commercial systems) are fragmented.
Having participated in various process reviews and trouble-shooting/clean-up projects there seems to be a large disconnect between groups operating in various systems.
These disconnects; rather they be lack of information or understanding of how data flows between systems, how the data managed within each system impacts other upstream or downstream systems, or how the business processes within one group/system impacts the overall functionality of other groups, create large cracks producing an opportunity for mismanaged data, incomplete business reports, and increased risk to Enron.
The ideal objective; increase communication standards through a better understanding of system data functions/requirements and business processes, decrease system downtime and replication errors through a better understanding of the data relationships between systems, maximize department-to-department synergies (left hand knows what the right hand is doing), eliminate repetition, and further reduce potential risks to Enron due to information/business process oversight.
| Additional New Works; 5/2/01 Floor Meeting, 37th Floor |
Please review and abide by the following travel policy and best practices.
Feel free to call either Tina Spiller or Peggy McCurley if you have any travel policy questions.
Thank you.
| Enron Net Works' T&E Policy and Best Travel Practices |
Sally, You had mentioned in a voice mail that you have a spreadsheet that helps track the assets that NewCo is looking at.
I would like to work off the same sheet for consistency.
Also, when you get the chance I'd like to sit down and discuss Dave's plan of moving all the 'risk mgmt' team on the 31st floor of ECN.
Regards,
| file |
Hi all, Please find attached the main model assumptions as discussed yesterday.
I have not included the IT Hardware and Software assumptions since we need to come up with a new set of numbers based on real expenditures.
I am also attaching a table that Fred forwarded me with a more accurate counterparty count (including the breakdown by type).
This includes the total companies for the North American Market and we need to determine the targeting criteria within each group.
This number should allows us to obtain a better estimate of the total market size.
It'll be great if you can take a look and let me know what makes sense, what doesn't, what do you think is missing, etc.
I can be reached at extension 54658.
Thanks!
| Back Office Model Assumptions |
Sally, Thanks for taking the time to discuss origination opportunities in EWS.
Per our discussion, I have attached a few presentations we have used during executive briefings with customers.
I have also attached a copy of my resume'.
Regards,
| Delivery Presentations |
Hi Sally - Just wanted to let you know that I have recently begun collaborating with an ebusiness consultant from CGI - a large Canadian systems integrator with an energy practice - on a demand-generation piece that should be published in the trades in a few months.
The slant is on the scaling systems - IT and people - and the reduction in costs brought about by mid and back office systems affected by a sharp increase in online trading in the energy sector.
Eventually, will probably be looking for some quotes and input from you or your ops people.
I'll keep you up to date.
Thanks,
| FYI - Article in process |
Sally, Attached is the updated of the headcount file I sent you on Friday.
I misunderstood the original request and provided December 31 plan for all four years.
I have now updated the file with December 31 actual headcount numbers for 1998 through 2000 and plan for 2001.
I have also updated the EGM numbers and inserted a summary tab.
If you have any questions, let me know.
Thanks,
| Updated '98 - '01 Headcount File |
ttached are the revenues and the volumes per counterparty that you requested.
Please note that the revenue and OPM cost information is in Canadian dollars.
I will be forwarding a copy of our MSA Agreement template shortly.
Please call me once you've had a chance to review the information.
| Calgary outsourcing information |
Due to the announcement Friday of the new organization of the trading groups to EWS, and the decision to include the risk control groups as part of Enron NetWorks, please hold off on making any of the below noted moves until we have resorted everything out.
We will endeavor to have this clarified by mid-week to enable us to make everything effective as of April 30.
Thanks
| Holdup on EES Transfers to EWS |
Kerry, As you are probably aware, the EES Risk Control organization is moving under Sally as of April 30, 2001.
Our initial thought was we would keep all the former EES employees together in a new ENA accounting entity, but have now decided that the Risk Control group needs to be captured as part of Enron NetWorks.
These were previously set up under a new ENA company number (#1596).
I don't know if within SAP we can simply repoint the profit and cost centers set up below to roll-up under ENW now instead of ENA, if not, we will need five new ones set up as follows: Executive (Meredith Eggleston)-27101 [Simper, Keith] ,150260 Risk Analytics (Neil Hong)-27102 [Simper, Keith] ,150261 Strategic Operations, Process & Systems (Scott Mills)-27103 [Simper, Keith] 150262 Deal Capture/Confirmation (Meredith Eggleston)-27104 [Simper, Keith] ,150263 Global Data Management (Mark Evans)27105 [Simper, Keith] ,150264 Thanks and don't hesitate to call with questions.
Thanks
| Transfer of EES Risk Control Employees |
Sally, I am also working with the Commodity Logic people, and we thought it will be great if we can sit down with the CL Module Managers and some of your people (maybe James Scribner, Beth Apollo and Leslie Reeves) to talk about the pricing assumptions and estimates for Commodity Logic.
I think your group can add a lot value here by validating prices (would you be willing to pay x dollars for the product?, etc.).
Do you think a meeting is a good idea?
If not, can you think of a better way to capture this valuable input?
Thanks for your help!
| Commodity Logic |
All, Here's a presentation outline that can be used to spark conversation at an initial customer meeting.
Please forward any comments back and I'll incorporate them.
Thanks,
| Customers - Getting the Requirements.ppt |
These guys are new - system is ready for beta testing.
Offering an ASP solution for mid and back offices, including lots of reporting and credit.
May 3, 2001---A new middle and back office Application Service Provider (ASP) solution has been launched by Derigen Consulting.
The Derigen Trade Center is designed to provide small and mid-sized trading and marketing operations an entry point into a comprehensive trading system.
(5/4/2001)
| Article detailing a new competitor in the back office outsourcing space |
Folks have been asking just who is participating in the 2002 Business-Civic Leadership Forum that starts tonight.
Here is the roster.
Marilou A. Schopper Senior Vice President Center for Houston's Future
| The Center -- Winter 2002 Business-Civic Leadership Forum -- Class Roster |
I wanted to take a minute to commend all of you on a job well done in successfully integrating WebModal and implementing the operational processes for Freight Markets in a very short period of time.
I have been involved in several acquisitions over the years here at Enron and I have never seen one that went as well as WebModal from an operational standpoint.
Everyone came together as a team and ensured that integration timelines were met and that the business was allowed to continue its daily operations with minimal problems internally or to our external counterparties.
Again, congratulations on a great job.
Thanks for all of your hard work.
Brent
| EFM Operations |
The following is an update of the last two meetings of the FASB and decisions made regarding goodwill and intangible assets: The Board reiterated that they intend to release the statement in final form in June 2001 despite publicity to the contrary.
The Board decided that goodwill should be tested for impairment annually rather than on an events-and-circumstances basis as previously proposed.
Additionally, goodwill should be tested for impairment during interim periods if an event or circumstance occurs between annual tests that might reduce the fair value of a reporting unit below its book value.
It should also be tested for impairment on an interim basis when (1) a more-likely-than-not expectation exists that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, or (2) a significant asset group within a reporting unit is tested for recoverability under SFAS 121.
The Board changed the proposed method for determining the amount of goodwill to be included in the net assets to be disposed of.
Under the new method, a portion of the reporting unit's goodwill will be allocated to all divestitures.
I do not believe that the Board gave full consideration to all of the issues surrounding this decision.
In particular, they did not address application to divestitures that result in a loss prior to or as a result of goodwill allocation and disposals of equity, cost or fair value method investments.
additionally, the calculation itself is arbitrary and onerous in that fair values of the reporting unit and its recognized and unrecognized assets and liabilities will have to be determined each time a divestiture is done.
I will be consulting with AA on this to see if they can encourage the Board to give thought to these issues prior to releasing the final statement since they do not intend to discuss the issue further at this time.
The Board changed the proposed method of allocating goodwill upon an acquisition to allow for allocation of goodwill in an acquisition to a reporting unit even if none of the assets or liabilities of the acquired company have been allocated to that reporting unit.
Please feel free to call me if you have any questions on the latest developments.
Thanks.
Mary
| Goodwill Update |
Meredith, We have done some more work on this PRC attendee list.
Sally added: Mark & Colette to Global pre-meeting You, Neil & Scott to Risk Mgmt pre-meeting You & Mark to final meeting.
Please let me know Monday, if possible, if this is okay, or if any other changes need to be made.
Thanks for your help!
!
| PRC Attendee Lists |
The Board decided in today's meeting to delay the effective date for adoption of the goodwill and intangible asset portion of the business combinations exposure draft to fiscal years beginning after December 15, 2001, permitting early adoption for fiscal years beginning after March 31, 2001 if financial statements for the first quarter have not yet been reported.
This means that goodwill amortization will continue through year-end.
Discussion is continuing on when the first impairment analysis will be required given the new adoption date and whether or not initial impairments may be reported as a change in accounting principle.
Adoption of the business combinations portion of the exposure draft is still anticipated to be required for acquisitions subsequent to June 30, 2001.
The main implication of this is that more excess purchase price is expected to be allocated to identifiable intangible assets rather than goodwill for acquisitions completed after this date.
The pooling-of-interests method of accounting for business combinations is still anticipated to be eliminated as of June 30, 2001.
| Goodwill Exposure Draft |
There seems to be some confusion around which DPR captures credit reserve and consumption premium reserves and which balance sheet these items fall on.
My understanding in talking with both Don and Kevin is that since EES is, on a go-forward basis, being granted origination (which would be the residual after all reserves are applied) that all prudency/reserve items will rest on the WhEES DPR.
The EES DPR will be just a single line net origination number.
We do need to capture the activity related to DSM in the EES DPR (including some portion of credit reserve and drift) but until we have the system capability to capture this it may just have to be part of the whole WhEES bucket.
This tracks with the idea that all future exposures (be they be wholesale price movement, tariff movement, credit exposure, etc.)
be borne by EWS.
If so, they need the reserves to properly offset any realized activity.
The balance sheet reserves associated with these items already rest in the ledgers that are rolling up underneath EWS now.
Reflecting the positions on the WhEES DPR will make them consistent with how we are capturing them from an accounting perspective.
If anyone disagrees with this treatment, please respond to all the parties above so we can resolve this issue.
If there are no objections I would recommend moving the credit reserve over at the next possible point.
Wade P.S.
This thinking only reflects how things are currently contemplated, if the mix around what is with EWS vs. EES (i.e., accounts receivable) we may want to rethink the credit reserve portion.
| Credit Reserve |
I am due to get the revised Risk Management reorganization groupings this afternoon.
At that point, additional cost centers may need to be set up so it will probably be the first of next week before any transfers could begin to happen.
Given that it will be the third week of May at that point, the effective date will probably have to be June 1, 2001 for SAP cost center reporting (correct)?
In any event, to enable us to have as clean a cut-off as possible for financial reporting purposes, I would like to wait and make these moves effective July 1, 2001.
That way their existing cost centers are pure for a full quarter and the new cost centers start off clean in a new quarter.
This will also help us from a planning perspective in developing a clean go-forward budget for these groups.
This will have no impact on our financial reporting, we will simply allocate costs to EWS from EES, rather than EES receive a charge from EWS for the entire second quarter.
Unless I hear strong objection to this, we will work toward a July 1, 2001 cutover.
Wade
| People Transfer |
This mail is the third in the series regarding the acceptance of RiskTrac VaR for UK Power.
Please see the previous 2 days which will provide the history.
Essentially we have now reached the stage where we can explain the jump in VaR from moving from the VaR spread sheet to RiskTrac based largely on the good work that Fergus Trenholme - London Risk Management and Stig Faltinsen - London Research have done (it has been a team effort as many others have been called in as appropriate and I would like to thank them too).
A full analysis is contained in the note from Fergus and Stig below but the key points to note are: the changing of the input parameters partially explains the difference in the VAR number between the 2 systems but not completely (including the change in factor loadings) the vast majority of the difference in the VAR numbers between the 2 systems is caused by the splitting of the volumetric position into the (primary and secondary) component curves in RiskTrac.
In RiskTrac PPP is currently set as the primary curve even though 75% of the position is on the station gate curve where as in the spreadsheet the whole position is against the PPP curve As a result of us now being able to isolate and explain the jump in VaR from moving to RiskTrac we will be reporting this number from now on.
That said does the VaR number sound right ?
The numer is theoretically but is the theory close to reality in the Uk Power market ?The RiskTrac calculated $25m VaR is a 1 day VaR and the methodology would imply it should be broken 1 in 20 business days.
Based on historical P&Ls this has not been the case and so it does not pass the "sense check".
(note that the original $13m VaR was only broken once or twice in the last year).
There are many potential explanations why, but if we think about how the price and volatility curves move they typically only move at the short end (ie only the first 2 years) and the component VarR for this period is in the order of $8m.
This could therefore imply that the volatilities we are using to calculate the VaR are too high.
The book undoubtedly contains significant risk but due to market illiquidity more consideration should be given to "jumps" or "shocks".
The book does posses increased fat tail risk at this lower VaR level which is not captured in the current VaR calculation.
Outstanding issues / work Based on the second bullet point above consideration needs to be given to changing the primary and secondary curve settings as well as the correlations and factor loadings for and between all the curves.
The impact of any such changes will need to be quantified.
Fergus and Stig aim to work with Houston research and the business on this over the next few days / week(s) and will be providing a regular update to those on this mail list.
Additional work needs to done to assess whether the VaR number / methodology being calculated / employed by RiskTrac truly represents the expected volatility and performance of the portfolio and truly represents the 1 day earnings risk for 19 out of 20 days.
It would also be appropriate, given the nature of the market and the term structure of the portfolio, to assess the fat tail risk being run.
I am away for the next 2 weeks so Fergus and Stig will be sending regular progress updates.
| PLEASE READ -Analysis of variance between spreadsheet VaR and RisktRAC VaR for UK Power |
Hello Sally, This e-mail is to confirm the message I left for you earlier this morning.
I have attached the speaking sessions below.
Please let me know as soon as possible the session that you would be interested in conducting for the NABA Conference.
Also, two of your employees are interested in participating at the conference Mark McClure and Errol McLauglin.
You have a total of four conferences passes to utilize for your group.
Please let me know if you would like them to attend for career development purposes.
They are both willing to recruit at the conference.
NABA is expecting over 2,000 professional participants this year.
Thank you for your support for the organization.
This will be a wonderful new partnership for Enron and your organization.
Please call me if you have any questions.
Meliza Evason Associate, HR X57855
| NABA Techical Speaking Sessions |
Hello, everyone.
I'm hoping you know of someone who would be a good fit fo= r an interesting opportunity in Market Risk Management in RAC: We're looking for a director level accountant or risk management operations= person who can join the Strategic Risk Management (SRM) group within Marke= t Risk Management to work on the Asset/Liability piece of Enterprise Risk M= anagement project as we team up with Vince Kaminski's Research group on thi= s challenging new initiative.
The ideal candidate would have Enron experience and be a good project manag= er, accustomed to working in self-directed situations, able to work with an= d gain the team support of mid and upper level management in research, ac= counting, risk management operations, finance, treasury, RAC, the business = units, etc..
They would need to be able to articulate for top support and = commercial management any project issues and implementation challenges, and= would be working with risk mgmt operations and the business units on the i= mplementation efforts and process design.
Someone able to take full respon= sibility for this long term project from its infancy through completion, de= signing a plan of attack, and then leading the implementation effort.
This= person might also act as a consultant for SRM's other initiatives that imp= act accounting.
Ideally, of course, this person would understand risk mana= gement (risk books, trading operations, etc.
), but someone who understands = the different types of risks inherent in our strategic assets and accrual a= ccounting contracts might also be a good fit if they're self-motivated and = willing to dig in and learn the risk management business.
I think it's a great opportunity for someone to broaden their resume and ga= in market risk management expertise.
We've met with top risk management co= nsultants, and this is a cutting edge initiative that will put us head and = shoulders above our peers.
If you want to forward this to potential candidates, below are some links t= o websites that may provide some overview information on asset-liability / = EW risk management (I haven't reviewed the sites myself yet).
Also, Vince'= s outline on Enterprise Risk Management from early last year is attached be= low.
=20 Please call me if you know of someone who might be interested.
Thanks for your help,
| Enterprise Wide Risk Management |
Hi Sally, I hope this message finds you well.
Just a short note to let you know that I have settled into my workspace at EB 3089F.
I am very excited about my summer internship with Enron, and when you have a free moment, let me know; I would like to stop by and say "hi".
Feel free to contact me at (713) 853-4750 or at [email protected] with any questions.
I look forward to hearing from you soon.
Have a great day, Michelle
| Summer Contact Information for M. Yee |
Dear New Dynegydirect User, Per our conversation, this email is being sent as a confirmation of your new Dynegydirect ID and password.
Your ID must be typed in all caps and the password must be in lowercase.
You will be prompted to change the password to one of your choosing during the initial login.
Below is your ID and password which must be entered exactly as shown.
Dynegydirect ID- EGLSBECK PASSWORD- password1 The following requirements must be used when changing your password and setting up new users.
Password requirements: Minimum: 6 Maximum: 15 Must contain alpha/numeric characters UserID requirements: Minimum: 6 Maximum: 30 Required Format: User ID should consist of: ?
First 3-characters identifies the company (usually represented by the company's ticker symbol ( i.e., WRI) ?
The first letter of the users first name followed by the first 4 letters of the last name (i.e., WRIGUMSC) all upper case ?
Duplicates can be identified with a number ( i.e.,WRIGUMSC1) During our conversation, you provided an authentication answer.
Please verify the accuracy of the following information.
Authentication Question: What is your mother's maiden name?
Authentication Answer: XXXXXXXXX If you experience problems logging into Dynegydirect, contact an e-care representative at the number below.
| Notification of Dynegydirect New User ID |
Sally, I hope the information in the attached document clarifies how I see myself participating / helping in the task at hand.
If you have any questions please feel free to give me a call.
I look forward to hearing from you.
Thanks - MO
| Murray's Role In EES Risk Function Transition to EWS |
I had an idea for a project which might eventually do away with the need to have 15 people in a room at 8.30 every day to talk about, amongst other things, data feed timings, content etc.
and I would love your input.
Don't know if you have seen the application they use in the Gas Control Center for monitoring flows etc but it occurred to me that we might like to build something similar that showed all the upstream systems, processes etc, and data feeds to the risk aggregation tools, summary DPR, which would serve as a diagnostic tool for us to assess our risk process every day.
As you know we have been using 3 dimensional real estate to depict market and credit risk like this and I am experimenting with this concept from a process flow angle, because when looking at this stuff it would be nice to get a feel for the "freshness" of the data and the status of the various tasks in the chain.
Views ?
DP
| Those 8.30 meetings.... |
Sally Thanks for all your time in Houston and I'd be delighted to continue discussions around commercialisation whenever you want.
As promised, please find attached examples of our monthly management reporting.
They are still evolving - at the moment they are missing aged debtors / creditors reporting (we should get in for June reporting once the function moves back into my area) and anything on Enron Credit.
However, comments and thoughts welcome!
Kind regards
| Settlements Management Reports |
Sally, Thank you for your continued support of Avistar.
As you probably know Brent Price has approved additional Avistar equipment for his direct reports in Houston, London and Singapore.
We will begin to install these additional desktop conferencing units within the next couple weeks.
I know we had also discussed a possible deployment to Stace and Jeff's groups.
I am in Houston this week if you would like to discuss their possible project and get a sense of the budget requirements.
Please feel free to reach me on my cell phone if you have any additional questions, 650.281.3860.
Thanks
| update on Avistar |
The EnronOnline Audit is scheduled to begin the week of June 4, 2001 and is expected to take approximately two months to complete.
The audit will be executed by Arthur Andersen and led by Jennifer Stevenson and Russ Bouwhuis.
We will schedule an opening meeting with you the week of June 4, 2001 to discuss audit scope and any concerns or suggestions you may have.
The objective of the audit will be to determine whether procedures and controls exercised over activities are adequate and operating effectively.
Results of the audit will be discussed with you and other appropriate personnel both during the audit and at the audit closing meeting.
We will endeavor to conduct this audit in a manner that will minimize interruption of your normal business activities and we look forward to working with you and your personnel.
Please call me at x5-4554 if have any questions.
Mechelle Atwood Director, Enron Assurance Services Enron Wholesale Services
| Enron OnLine Audit Notification |
30 days remain prior to the target date specified in an open audit observation.
Please click on the document link below, review the observation / action step(s) / responsible person(s), and provide completion / progress report, updates, and revised target date, if any.
NOTE: EACH E-MAIL REPRESENTS A SEPARATE AUDIT OBSERVATION.
Click on this link to view document -->
| "Project DoorStep" 30-DAY REMINDER |
All, Just wanted to touch base with you to see if you have had a chance to review the full time Analyst resumes that were delivered to you on May 14th.
Please see the list below of remaining Analysts and let me know ASAP if you would like one of them for your group: Andrew Bermack Bali Bukenya Belinda DeLa Cruz Deborah Freire Neeloofar Haghighat Blake Lasuzzo Jaryn Levitas These Analysts will be starting on July 17th and be attending orientation for a couple of weeks.
There are also three real time Analysts that were recently interviewed and made an offer to join Enron as a full time Analysts: Timothy Weil - will be starting July 17th with the other full time Analysts Vacharapol (Eddie) Sanguanruang - He will be able to start as soon as his visa is transferred which is already in progress Nat Kreamer - He would be able to start June 4th if needed We will be forwarding resumes to each of you on the real time candidates and if you have an immediate need, please let me know.
Thanks in advance for you consideration.
| Full Time Analysts |
Tina, Attached is the Global Risk Management Operations Update for the Philippe and Greg Weekly Report, for the week ending May 30.
If you have any questions, please let me know.
Thanks,
| Global Risk Management Operations Weekly Operating Report |