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---------------------- Forwarded by Greg McClendon/HOU/ECT on 01/25/2001
02:35 PM ---------------------------

Kevin Whitehurst@ENRON
01/25/2001 08:17 AM
To: Greg McClendon/HOU/ECT@ECT, Laura Vuittonet/Corp/Enron@Enron
cc:
Subject: ClickAtHome Ordering

Greg and Laura:

Below is an invitation email that contains the links to the ordering
website.  Also, ordering has been extended through the 30th of January.
Please let me know if you have any questions....  Thanks, Kevin x54429

Internet Service is now available for ordering!  As a Pilot 3 Invitee of the
ClickAtHome program, you can now order your PC and Broadband Internet Service
through the ClickAtHome Pilot website, which may be accessed at
http://clickathomepilot.enron.com (launch through Internet Explorer only).
All Pilot participants are encouraged to place their PC order by January
25th.

Many of our Internet Service vendors are ready to begin providing service to
you today, while all vendors will be ready by late February.   The
ClickAtHome Internet Service Providers whom are currently available for
internet service are:

Time-Warner in Houston, (cable modem)
Kingwood Cable, (cable modem)
AT&T - Portland.  (cable modem)

MSN, providing both dial-up and DSL service nationwide, and Cox Cable -
Omaha, providing cable modem service,  will be available in late February.
We will provide further communication as soon as MSN and Cox Cable - Omaha
orders can be placed. We appreciate your patience in advance.

To pre-qualify and sign up for service in your area today with Time Warner
Houston, Kingwood Cable or AT&T- Portland, refer to
http://clickathomepilot.enron.com for specific provider information and
instructions on how to place your order.  If you have problems launching the
site, please copy and paste http://clickathomepilot.enron.com directly into
Internet Explorer.

The ClickAtHome Team is excited to bring you these options.

ClickAtHome Team


I can't open this--please fax or email to me in a format I can open.  thanks
df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 02/11/2001
07:44 PM ---------------------------
From: Shelley Corman/ENRON@enronXgate on 02/09/2001 05:12 PM
To: Drew Fossum/ET&S/Enron@ENRON, Dorothy McCoppin/FGT/Enron@ENRON, Janet
Place/NPNG/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Maria
Pavlou/ENRON@enronXgate, Dari Dornan/ET&S/Enron@ENRON, Frazier
King/FGT/Enron@ENRON, "Robert Kilmer (E-mail)"
<rkilmer@enron.com>@SMTP@enronXgate, Ray Neppl/NPNG/Enron@ENRON, Lee
Huber/ET&S/Enron@ENRON
cc:

Subject: INGAA's Answer in CP95-218

Please review INGAA,s proposed answer in support of the FERC,s Dec. 14 order
allowing pipelines to reserve capacity on other pipelines without advance
FERC approval.  I need to get comments back to INGAA by noon Monday, Feb. 12.


Rick Buy has requested that he receive the log of the book officialization
errors on a daily basis.  Previously, he was only receiving it weekly.
Because of this change, it will be necessary for risk contols to have a
complete explanation from your risk groups as to why errors happened.

The current process is as follows for Houston (using Houston time):
Books officialized in evening by risk management
7:30 am risk controls receives error listing (books which did not make it to
RisktRAC)
7:30 - 8:30 explanations obtained for error received from risk management
(Not all explanations are obtained by 8:30)
8:30 meeting to discuss previous night's officialization process and general
processes
9:00 close obtain explanations not obtained before meeting
Wed pm - weekly consolidated report sent to business controllers and RAC

The process needs to change so that we receive all explanations before the
8:30 meeting.  I know that many groups identify errors the night before via
the benchmark or reviews of RisktRAC.  Hopefully, all groups are moving in
this direction.  Since the log will go out each day, each of you need to look
at the current process you have in place and determine how you can get us the
information prior to the 8:30 meeting.

We are trying to put the following process in place (for Houston):
Books officialized in evening by risk management including risk management
ensuring RisktRAC has all required information, errors noted and an e-mail
sent to risk controls
7:30 am risk controls receives error listing (books which did not make it to
RisktRAC)
7:30 - 8:30 explanations obtained for error received from risk management (if
not received the night before) and log updated
8:30 meeting to discuss previous night's officialization process and general
processes
Log sent to bus. controllers, RAC - daily

Note:  I know that London, Sydney, and Japan have different processes.  We
have to work with your current processes to ensure that risk controls
receives info on time.


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If you would like to be excluded from receiving these types of
offers in the future, please send an email to members@thestreet.com
with the subject line "No Exclusive Offers."


<<InternetNews - Advertising Report -- Red Sky Interactive Axes 70.url>>
Hope colleen is ok.

 http://www.internetnews.com/IAR/article/0,,12_535071,00.html

 - InternetNews - Advertising Report -- Red Sky Interactive Axes 70.url


When is Stan available?  Probably will take no more than 2 hours.

 -----Original Message-----
From: 	Michael Anderson/HOU/AZURIX@AZURIX@ENRON   On Behalf Of Michael Anderson/HOU/AZURIX@ENRON
Sent:	Monday, October 01, 2001 10:46 AM
To:	Geaccone, Tracy
Subject:	Re: Azurix 2002 Plan Review

Yes we do.  We were thinking the week of the 15th.  Can you find us a time?

	Tracy Geaccone/ENRON@enronXgate 10/01/01 10:07 AM 	   To: Michael Anderson/HOU/AZURIX@AZURIX  cc:   Subject: Azurix 2002 Plan Review

Rod mentioned to me last week that we would only review Wessex on Wednesday.  Do we need to schedule something for the rest of Azurix?

Thanks

Tracy


Rick, I've been asked to supply your employment agreement to the Enron North Amercia HR team.  Please write back indicating your approval for this information to be sent.  THanks.

Pam


let's talk and figure out a time.  i'm off for school now.
Best,
jeff

	Cameron Sellers <cameron@perfect.com>
	04/12/2001 05:44 PM

		 To: "'Jeff.Dasovich@enron.com'" <Jeff.Dasovich@enron.com>
		 cc:
		 Subject: you & me & ian

I would love for you to meet our new VP of Professional Services (who is,
incidentally, now for all intents and purposes running our company).  I
think you will love him.  He is very interested in the idea of working with
Enron and I want you to meet him.  Can we set up a dinner for the three of
us sometime in the next couple weeks?  I know your schedule is busy with
school, so why don,t you tell me a couple nights that work (other than
Mondays) and I will make it work on our end.  Please oh please.

Love,

Your Pal Cameron

P.S.  Going to Colleen,s new (to me) place for some wine tonight.  I,ll tell
her hello for you(

Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)


John, I assume that you are doing the review for Vince Kaminski.

Thanks
Dave


Kate,

Has the paperwork been finalized yet?  Let me know if we've agreed a start
date yet.

Thanks,

Dale

Kate Bruges
18/07/2000 12:52
To: Dale Surbey/LON/ECT@ECT, Anjam Ahmad/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT

Subject: Sharad Agnihotri

I have just spoken to Alex Blair from Alexander Mann who met with Sharad this
morning.

Sharad has verbally accepted our revised offer and is expected to return the
paperwork tomorrow. I will let you know as soon as I get a start date from
him.

Regards
Kate


Please find attached a detailed briefing paper on the captioned order.  Ray
Alvarez


Jeff,

Let us discuss it sometime this week. I' ll be out next week.
Thanks.
Gia

Jeff Dasovich@EES
08/29/2000 05:14 PM
To: Gia Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: GA Value

Greetings.  Let me know when you would like to discuss the "value" that GA
brought to our pipeline group. (We discussed it when I was in Houston week
before last.)

Best,
Jeff


"John H Herbert" <jhh1@email.msn.com> on 12/04/2000 07:09:55 AM
To: "Vince J Kaminski" <Vince_J_Kaminski@enron.com>
cc:
Subject: Reprint Available "Alliance Gas Pipeline:

Early, Late, or Just in Time?

A story of big gambles, big assumptions, and spark spreads turned upside
down"

by John H. Herbert, published in the November 15, 2000 issue of Public
Utilities Fortnightly (PUF).

This article which contains five figures and is on the long side for PUF
also covers market issues that go beyond Alliance.

If you like to receive a reprint please send me your address.

Best regards,

JHHerbert
703-532-4544 (phone)
603-719-6675
2929 Rosemary Lane
Falls Church, Virginia    22042


I will be out of the office from 04/05/2000 until 04/11/2000.

I will respond to your message when I return. If it is urgent, please call
703/561-6469 and Charlie Dalphon can assist you.


Let's just leave the prudency stuff unhedged for now.


I spoke with Hunter this afternoon and he affirmed that the UBS folks that we met with Monday (2/4) ARE going to help with the gas curve validation process.  Hunter will have them get with their respective Estate regional leads (Brad/East, Kevin/Central, Joe/TX & West) to divide work and get going.  Please get together and get copies (paper and electronic) of broker quotes asap so we do not loose time.

Tim/Kathy,  you may need to have a meeting to organize, but I leave that with you.

Regards,
Ed


Start Date: 10/29/01; HourAhead hour: 4;  No ancillary schedules awarded.  Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102904.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/29/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_PAC
  ENGY_TYPE: NFRM
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 4 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/29/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_RED
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 4 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/29/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_BROWN
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 4 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/29/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_BLUE
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 4 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/29/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_BLACK
  ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/29/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_NW
  ENGY_TYPE: FIRM


Hi Mark,

We had our call with Dow today.  Needless to say Carlo Gaurino was very dissapointed in our moving forward.  Privately he mentioned to Nowlan that they are about to announce layoffs, and another crappy quarter.

We will be putting a banner headline on EOL announcing these products in the next week.

Regards,

Jeff


Hello all!

Just a little reminder that Todd Perry will be in the Mt. Hood conference room TODAY at 11:00am to discuss the Power Structuring position. If are interested in the position, or would just like more information, please stop by!

 -----Original Message-----
From: 	Fitzpatrick, Amy
Sent:	Friday, May 11, 2001 3:06 PM
To:	Portland West Desk
Subject:	Available Opening - Power Structuring

The below position has recently become available in the Portland office.

Power Structuring

This position reports to Todd Perry.  Todd will be holding an information session on Tuesday, May 15, 2001 at 11:00 am in Mt Hood.

As a power structurer, you will be responsible for the following duties.

?	Perform pricing of power purchase/sale transactions, including swaps, options, swaptions and embedded loans.
?	Provide financial analysis of Origination transactions, including power plant development efforts, contract monetizations and long-dated commodity transactions.
?	Work with Enron's Credit, RAROC, and Risk groups to qualify and quantify risks inherent in transactions.
?	Maintain a weekly pricing sheet to monitor changes in forward curves.
?	Work with Trading to track changes in new-build economics and power price fundamentals.
?	Create Excel-based models of innovative transactions much as cross-commodity swaps, weather derivative products, and physical and virtual tolling options.
?	Provide transaction structure feedback to middle marketers and originators.
?	Various other duties as assigned.

Additionally, a strong background in Excel, basic financial statement analysis, and familiarity with option pricing theory are preferred.

If you have any questions about this role or would like more information, please see or call Todd Perry.  If you are interested in this position, please submit your name to Amy FitzPatrick no later than close of business on Friday, May 18, 2001.


Please plan to attend a follow-up to Monday's meeting on Friday, December 14 at 1:30 p.m. (CST) in ECS 05990.  For those outside Houston, please call 1-800-711-8000, pass code 6796.

See you tomorrow.


On another "food for thought" note.  Eldon and Nancy:  Here's the WSJ editorial by Scott Simon--long-time NPR dude, credentialed lib, and Quaker--on "just wars."  Sort of thought-provoking.

Best,
Jeff

October 11, 2001
Commentary
Even Pacifists Must
Support This War

By Scott Simon, the host of National Public Radio's "Weekend Edition With Scott Simon."

Pacifists often commit the same mistake as generals: They prepare for the last war, not the next one. Many of the peace activists I have seen trying to rouse opposition to today's war against terrorism remind me of a Halloween parade. They put on old, familiar-looking protest masks -- against American imperialism, oppression and violence -- that bear no resemblance to the real demons haunting us now.

Pacifism has never been exactly popular. But when I became a Quaker as an adolescent in the late 1960s, pacifism seemed to offer a compelling alternative to the perpetuity of brute force. Mahatma Gandhi had overthrown an empire and Martin Luther King had overturned a racial tyranny with nonviolent marches, fasts, and boycotts that were nervy, ennobling and effective. Pacifism seemed to offer a chance for survival to a generation that had been stunted by the fear of nuclear extinction.

I worked as a war reporter, but I never saw a conflict between this and being a Quaker. If my reporting was sometimes drawn more to human details than to the box-score kind of war coverage, those details struck me as critical to explaining war. I never covered a conflict -- whether in Central America, the Caribbean, Africa or the Middle East -- that seriously shook my religious convictions. In fact, most conflicts seemed to prove how war was rotten, wasteful and useless. El Salvador's civil war killed 70,000 people over nine years. It was hard to see how the political compromise that ended the conflict could not have been reached after just six months.
But in the 1990s, I covered the Balkans. In Sarajevo, Srebrenica, and Kosovo, I confronted the logical flaw (or perhaps I should say the fatal flaw) of nonviolent resistance: All the best people can be killed by all the worst ones. I had never believed that pacifism had all the answers; neither does militarism. About half of all draft age Quakers enlisted in World War II, believing that whatever wisdom pacifism had to give the world, it could not defeat the murderous schemes of Adolf Hitler and his cohorts.

It seems to me that in confronting the forces that attacked the World Trade Center and the Pentagon, American pacifists have no sane alternative now but to support war. I don't consider this reprisal or revenge, but self-defense: protecting the world from further attacks by destroying those who would launch them.

Some peace activists, their judgment still hobbled by shock, seem to believe that the attacks against New York and Washington were natural disasters: terrible, unpredictable whirlwinds that struck once and will not reoccur.

This is wrong. We know now that there has been an ongoing violent campaign aimed at bringing down diverse nations, with none being more gloriously speckled than the U.S. People who try to hold certain American policies or culture responsible are trying to decorate the crimes of psychotics with synthetic political significance.

In 1933 the Oxford Student Union conducted a famous debate over whether it was moral for Britons to fight for king and country. The exquisite intellects of that leading university reviewed the many ways in which British colonialism exploited and oppressed the world. They cited the ways in which vengeful demands made of Germany in the wake of World War I had helped to kindle nationalism and fascism. They saw no moral difference between Western colonialism and world fascism. The Oxford Union ended that debate with this famous proclamation: "Resolved, that we will in no circumstances fight for king and country."

Von Ribbentrop sent back the good news to Germany's new chancellor, Hitler: The West will not fight for its own survival. Its finest minds will justify a silent surrender.

In short, the best-educated young people of their time could not tell the difference between the deficiencies of their own nation, in which liberty and democracy were cornerstones, and a dictatorship founded on racism, tyranny and fear.

And what price would those who urge reconciliation today pay for peace? Should Americans impose a unitary religious state, throw women out of school and work, and rob other religious groups of their rights, so that we have the kind of society the attackers accept? Do pacifists really want to live in the kind of world that the terrorists who hit the World Trade Center and Pentagon would make?

Pacifists do not need any lectures about risking their lives to stop wickedness. Quakers resisted slavery by smuggling out slaves when even Abraham Lincoln tried to appease the Confederacy. Pacifists sneaked refugee Jews out of Germany when England and the U.S. were still trying to placate Hitler. Many conscientious objectors have served bravely in gritty and unglamorous tasks that aided the U.S. in time of war.

But those of us who have been pacifists must admit that it has been our blessing to live in a nation in which other citizens have been willing to risk their lives to defend our dissent. The war against terrorism does not shove American power into places where it has no place. It calls on America's military strength in a global crisis in which peaceful solutions are not apparent.
Only American (and British) power can stop more killing in the world's skyscrapers, pizza parlors, embassies, bus stations, ships, and airplanes. Pacifists, like most Americans, would like to change their country in a thousand ways. And the blasts of Sept. 11 should remind American pacifists that they live in that one place on the planet where change -- in fact, peaceful change -- seems most possible. It is better to sacrifice our ideals than to expect others to die for them.

-----Original Message-----
From: eldon [mailto:eldon@direcpc.com]
Sent: Monday, October 15, 2001 1:45 PM
To: Cameron Sellers (E-mail); Dotty Hopkins (E-mail); Nancy Sellers
(E-mail); Nancy Sellers (E-mail); Prentice Sellers (E-mail 2); Rory
Sellers (E-mail); Scott Laughlin (E-mail); Dasovich, Jeff; William K.
Sellers (E-mail); cptjack@napanet.net
Subject: Having trouble 'getting back to normal'

- - - - - - - - - - - - - - - - - - - - - - - - - - - -
--Ethics Matters columnist Carlton Vogt on the ethical
implications of President Bush's decision that civilian
airliners that are perceived to be a threat to the general
population should be shot down.

http://www.infoworld.com/articles/op/xml/01/10/08/011008opethics.xml?1015mnl
v
- - - - - - - - - - - - - - - - - - - - - - - - - - - -

What do you think about this?  It seems to me that, while I don't at this
point vote either way, there is another factor in the equation that I don't
see mentioned.  What if you also  hypothesize that those identified people
are going to die anyway?  We have pretty good evidence that some of the
people on the plane that went down in Pennsylvania were thinking this way.


My contacts at The New Power company said you should call this number
1-888-926-9988.


Well, why aren't you here?  I'm ready to go!  Of course when ever you are.

Bobby Jackson <BJACKSON@SSWPC.COM> on 02/14/2001 05:24:21 PM
To: "'Dana.Davis@enron.com'" <Dana.Davis@enron.com>
cc:
Subject: RE: Are you still there?

No I'm not. I left at 12pm. . . .

-----Original Message-----
From: Dana.Davis@enron.com [mailto:Dana.Davis@enron.com]
Sent: Wednesday, February 14, 2001 5:24 PM
To: bjackson@sswpc.com
Subject: Are you still there?


I believe the committee has earned the right by its work to select the name. Jim

 -----Original Message-----
From: 	Walls Jr., Rob
Sent:	Monday, April 09, 2001 2:09 PM
To:	Derrick Jr., James
Subject:	FW: Legal Portal Name

any preference?

 -----Original Message-----
From: 	Obrecht, Paulette
Sent:	Monday, April 09, 2001 1:58 PM
To:	Walls Jr., Rob
Subject:	Legal Portal Name

We really need to get an official name for the Portal. The finalists are:

Enron Legal Edge
Enron Legal Net
Enron Legal Source
EnLaw
Enron Legal Ease (copyright issues?)

Who is going to pick this...Mr. Derrick, the GC's or the committee?

I understand that you will only have a few introductory comments on the Portal rather than a 15 minute presentation. I will be meeting with you Thursday, and we can talk about what type of slides I can prepare for you to go along with your comments. We will have a Portal Demo outside the ballroom where the participants can see the demo and be provided with information on the categories. We have a new graphic design for the Portal Header which you can see below. Let me know your thoughts?

http://www.jreese.com/files/legal.html


Power Projects on the Decline (At Least in the Near Term);
Opportunities for Consolidation May Increase (Scientech IssueAlert)

By Will McNamara
Director, Electric Industry Analysis

(Click on link below to view full article)

There's just over two weeks to go before CBI's 6th Annual "Profit from Merchant Plants" conference, which will be held on January 28-29, 2002 in Houston, TX. Take advantage of this chance to put the questions at the forefront of everyone's mind to senior players from the merchant power industry - their prognoses for the industry, their personal opinions of how Enron's departure will change the face of the market and what they and their companies are going to do to ensure they survive in a market downturn. Meet the author of the article above to discover the analysts' outlook for the industry and the prospects for the industry to emerge from the current boom-bust cycle. Book now to guarantee your place at this timely event and enter the merchant power debate...

To register or for more information on CBI's 6th Annual "Profit from Merchant Plants" conference, please call Luci Santillo toll free at 800-817-8601, e-mail l.santillo@cbinet.com or visit our website at <http://www.cbinet.com/events/pb207/index.html>  Mention priority code, PB207SCEM when registering and SAVE $300! (This is not to be combined with any other offer or discount and is for new registrations only.)

Click on the following link to view the full article <http://www.cbiglobalenergy.com/power_projects.htm>......

If you received this e-mail in error or would like to be removed, PLEASE CLICK HERE <mailto:cbi_mail@cbinet.com?subject=RemoveME 0000828940>

0000828940


Need to include Saguoro

 -----Original Message-----
From: 	Schield, Elaine
Sent:	Monday, October 01, 2001 10:54 AM
To:	Kitchen, Louise
Subject:	Asset Sales Chart

	Please see the attached file that reflects the multiple for each asset sale.  As you can see for assets that had losses, we show no multiple.  Additionally, there are some assets that have no EBITDA at all (that we are aware of), thus we show no multiple.  Please let me know if this is what you expected.  Thanks!

	 << File: 2001 Gain Calcs4.xls >>


Enron is proud to be a major sponsor of the galleryfurniture.com Bowl!

Don't miss your chance to witness college football history, as bowl fever
hits the City of Houston with the inaugural galleryfurniture.com Bowl game
Wednesday, December 27, 2000 at the Houston Astrodome. This is your
opportunity to see the Big XII Conference face off against Conference USA!

This Friday, December 1st at the Big E' Caf,, Community Relations will be
selling discounted tickets for $8 to all Enron employees from 11:30 am- 1:00
pm (no limit).
The purchase of a game ticket will also make a difference in the lives of
thousands. All proceeds from ticket sales will go to AIDS Foundation Houston
(AFH) Investment of a Lifetime program, which benefits Houstonians with life
threatening illnesses.
Everyone who purchases a ticket Friday will also receive a coupon for a
complimentary Chick-Fil-A sandwich, and will have the opportunity to pick-up
FREE bowl game merchandise the from the galleryfurniture.com Bowl promotion
truck.  In addition, Gallery Furniture will have a special offer to Enron
employees to register to win a brand new 36-inch Color TV!
Don't miss out on all the exciting action and being a part of Houston Bowl
Fever!


Hi Mark - I see Mark Greenberg is away until tomorrow , so would you be able
to help us out with this one? Just need to make sure we're okay to feed our
physical metals prices to Reuters.   Specifically, can you confirm we don't
have any agreements in place with NYMEX and/or COMEX which would restrict us
from doing so (specifically the same live bids/offers posted on
EnronOnline)?  The only reference to 'COMEX' in these products is in the long
description (see below).

Thanks,
Paul
x32310
---------------------- Forwarded by Paul Goddard/EU/Enron on 10/04/2001 10:09
---------------------------

Paul Goddard
09/04/2001 13:46
To: Mark Greenberg/NA/Enron@ENRON
cc: Justin Boyd/LON/ECT@ECT, Dave Samuels/hou/ect@ect, Imelda
Frayre/LON/ECT@ECT, Julie Ferrara/HOU/ECT@ECT

Subject: Quick Question RE: COMEX bid/offers for Reuters

Hi Mark - Justin suggested I contact you to see if there would be any issues
with us feeding our live EOL COMEX physical metals quotes to Reuters (as part
of our new deal with them to feed them various live bids/offers for various
markets).  Our sense is that this is fine, but we want to be sure.

Example Products (both Short and Long Description would be viewable on the
customer's Reuters terminal):

Product Short Description    Product ID
US Cu Phy Hi-Grd Whse  May 01  36916
US Cu Phy Hi-Grd Whse  Jul01  45368

Sample Long Description (references to COMEX)

Q1:  Do we have any restrictions on us that would preclude us from doing
feeding these 'COMEX' quotes to Reuters? (e.g. legal agreement with NYMEX /
COMEX in place ?)
We are hopeful that no such restrictions exist but want to make sure before
proceeding further.

Q2:  Are you aware of any other restrictions that would restrict us from
feeding quotes for any of our other physical metals products to Reuters?
(Unfortunately, we cannot post our financial LME quotes to Reuters as this
would violate LME rules, hence our desire to at least feed our Physical
quotes).

Sorry for the short notice but could you get back to me today on this?  We
are trying to finalize today the list of metals products which we can include
in the feed.
Many thanks,
Paul Goddard
EnronOnline
x32310

---------------------- Forwarded by Paul Goddard/EU/Enron on 09/04/2001 13:35
---------------------------

Paul Goddard
06/04/2001 18:12
To: Imelda Frayre/LON/ECT@ECT
cc: Dave Samuels/hou/ect@ect, Andy Zipper/Enron@EnronXGate, Michael
Bridges/NA/Enron@ENRON, Julie Ferrara/HOU/ECT@ECT

Subject: RE: COMEX bid/offers for Reuters

Just spoke with David Lilley and he is onside for us to post the 2 physical
US Cu products listed below (36916 and 45368), and if possible, the following
other Asian (Shanghai and Singapore) products as well:

41457
41465
41467
41469
41459

444513

He is also keen to add European copper soon , but needs to work on tightening
the spreads on these products first so would like to hold off just now.

Imelda/Julie - can you look at mapping these if there are no other issues?
One possible issue is that the long description for the 2 US Cu's may still
contain the reference to 'COMEX' .  Apparently legal had concerns with this ,
so they were planning to change this to 'CX' or similar.

Thanks,
Paul
x32310
---------------------- Forwarded by Paul Goddard/EU/Enron on 06/04/2001 18:04
---------------------------

David Lilley
06/04/2001 16:09
To: Paul Goddard/EU/Enron@Enron
cc: Imelda Frayre/LON/ECT@ECT, Dave Samuels/hou/ect@ect, Andrew R
Baldock/EU/Enron@Enron, Michael Farmer/EU/Enron@ENRON, Irma
Hunt/EU/Enron@Enron

Subject: RE: COMEX bid/offers for Reuters

I would very much like to have these product prices published on Reuters,
please call me on x32093 to discuss.

There are other physical products which I will show you if you would like to
come to my desk.

Rgds

Paul Goddard
06/04/2001 14:27
To: David Lilley/EU/Enron@Enron
cc: Imelda Frayre/LON/ECT@ECT, Dave Samuels/hou/ect@ect

Subject: RE: COMEX bid/offers for Reuters

Hi David - wanted to check with you to see if you would be okay with us
feeding live bids/offers to Reuters for the COMEX products shown below.
Originally, when I met with Joe Gold some weeks ago, we had intended to feed
many of our LME prices to Reuters, but due to the LME member rules
restricting us, we were precluded from doing so.

As such, we are hoping that we could at least feed the live quotes we have in
place for the 2 physical COMEX products (and , if possible , the financial
COMEX lookalike).  As part of our deal with Reuters, both we and Reuters are
very keen to feed some quotes for metals products. Also, if there are any
other non-LME restricted physical products you know of, we may be interested
in feeding these as well.

Could we have a quick chat about this before the end of today ?

Many thanks,
Paul
(Manager, EnronOnline)
x32310

Product Description     Product ID
US Cu Fin  COMEX Lookalike Jan01  31177
US Cu Phy Hi-Grd Whse  May 01  36916
US Cu Phy Hi-Grd Whse  Jul01  45368


Did not see your names below
---------------------- Forwarded by Kevin Sweeney/HOU/ECT on 03/08/2000 12:36
PM ---------------------------

Enron Europe General Announcement
03/08/2000 12:18 PM
Please respond to Fernley Dyson/LON/ECT
To: ECT London, ECT Helsinki, ECT Singapore
cc: Robert J Bonin/HOU/ECT@ECT, Kara L Boudreau/HOU/ECT@ECT, Matt A
Brown/HOU/ECT@ECT, Michelle Bruce/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT,
Olga Compean/HOU/ECT@ECT, Mary Jane Denson/HOU/ECT@ECT, Scott
Earnest/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT, Mark Fondren/HOU/ECT@ECT,
Sue Foust/HOU/ECT@ECT, Alexia Gonzales/HOU/ECT@ECT, Bjorn
Hagelmann/HOU/ECT@ECT, Kreg Hall/HOU/ECT@ECT, Mason Hamlin/HOU/ECT@ECT, John
Hayes/Corp/Enron@ENRON, Cindy Horn/HOU/ECT@ECT, Trisha Hughes/HOU/ECT@ECT,
Laura Karl/HOU/ECT@ECT, Nanette Kettler/HOU/ECT@ECT, Mark J
Leskowitz/HOU/ECT@ECT, James N Lessor/HOU/ECT@ECT, Linda K
Loukanis/HOU/ECT@ECT, Arlene Mendieta/HOU/ECT@ECT, Richard A
Miley/HOU/ECT@ECT, Michelle Nelson/Corp/Enron@ENRON, Frank G
Newman/HOU/ECT@ECT, Glenda D Mitchell/HOU/ECT@ECT, Chad Pennix/HOU/ECT@ECT,
Frank Prejean/HOU/ECT@ECT, Marilyn M Schoppe/HOU/ECT@ECT, James
Scully/HOU/ECT@ECT, Lynn E Shivers/HOU/ECT@ECT, Shirley Gail
Sidler/Corp/Enron@ENRON, Karen Snow/HOU/ECT@ECT, Alicia
Solis/EPSC/HOU/ECT@ECT, Patrick Stafford/Corp/Enron@ENRON, Leah
Stephens/Corp/Enron@ENRON, Shelly Stubbs/Corp/Enron@ENRON, Kevin
Sweeney/LON/ECT@ECT, John Swinney/HOU/ECT@ECT, Brandi
Wachtendorf/HOU/ECT@ECT, Nicole White/Corp/Enron@ENRON, Veronda
Willis/HOU/ECT@ECT, Sony Wilson/HOU/ECT@ECT, Joan Winfrey/HOU/ECT@ECT, Allen
B Childress/HOU/ECT@ECT, Suzanne B Clapp/HOU/ECT@ECT, Shannon
Cobb/Corp/Enron@ENRON, Dustin Collins/HOU/ECT@ECT, Andrea Frate/HOU/ECT@ECT,
Michael J Gasper/HOU/ECT@ECT, John H Harrison/HOU/ECT@ECT, Helen M
Jeschke/HOU/ECT@ECT, George R Lachner/HOU/ECT@ECT, Kristi I
Louthan/HOU/ECT@ECT, Dan Masters/HOU/ECT@ECT, Ina Norman/HOU/ECT@ECT, Michael
Philips/HOU/ECT@ECT, Peggy Rathmell/HOU/ECT@ECT, Rhonda Cyd
Reyes/HOU/ECT@ECT, Kathleen Salerno/HOU/ECT@ECT, Sharon
Stringfellow/HOU/ECT@ECT, Tomas Tellez/HOU/ECT@ECT, Jackie
Travis/HOU/ECT@ECT, Lisa Walker/HOU/ECT@ECT, Bill F Briggs/HOU/ECT@ECT, David
J Botchlett/HOU/ECT@ECT, Phil Clifford/HOU/ECT@ECT, Rudy Dautel/HOU/ECT@ECT,
Marc De La Roche/HOU/ECT@ECT, Wade Doshier/HOU/ECT@ECT, Steven M
Elliott/HOU/ECT@ECT, Alan Engberg/HOU/ECT@ECT, Douglas S
Friedman/HOU/ECT@ECT, Jim Goughary/HOU/ECT@ECT, Adam Gross/HOU/ECT@ECT, Paul
Henking/HOU/ECT@ECT, Wade W Hicks/HOU/ECT@ECT, Joong-Gie Hong/SIN/ECT@ECT,
Lee Jackson/HOU/ECT@ECT, Jung-Ah Kim/SIN/ECT@ECT, Joe King/HOU/ECT@ECT, Doug
Leach/HOU/ECT@ECT, Melinda Joyce Lynn/HOU/ECT@ECT, Patrick
Markey/HOU/ECT@ECT, John Mee Jr/HOU/ECT@ECT, Lisa Nemec/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, Petra Olvera/HOU/ECT@ECT, Ted Robinson/HOU/ECT@ECT,
Niambi Sablo/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT, Clayton
Seigle/HOU/ECT@ECT, Linda Shoup/HOU/ECT@ECT, S Craig Story/HOU/ECT@ECT,
Claude Straub/HOU/ECT@ECT, Helen Marie Taylor/HOU/ECT@ECT, Sameer
Vasudev/Corp/Enron@Enron, Spencer Vosko/HOU/ECT@ECT, Vickie J
Weaver/HOU/ECT@ECT, Bill White/Corp/Enron@Enron, Pavel Zadorozhny/HOU/ECT@ECT
Subject: Organisational Announcement - Tani Nath

I am pleased to announce that, effective immediately, Tani Nath, currently VP
in Asset Development in London, will be moving to take up a newly created
role as Head of Global Products Trading Support.

Tani will report to me and be responsible for leading and co-ordinating all
trading support functions for our world-wide operations in Global Products.
Kevin Sweeney and Tim Poullain-Patterson, Controllers in Houston and London
respectively, will report directly to Tani.

Please join me in congratulating Tani and welcoming her in her new role.

Fernley Dyson
Vice President
Chief Accounting Officer


Ben/Mike/Jeff,

Here is a quick update and a request for your assistance:

On Wednesday, November 22, ENA sent West LB a 5-day notice indicating our
intent to exercise the purchase option by Friday.
On Friday, November 30, ENA will execute the purchase option and at that time
own the 4 turbines for the Austin project.
Hopefully, by the end of the week, ENA and GE will execute the breakout
agreement which will ensure, primarily, that the GE warranties attached to
the 4 Austin turbines are completely conveyed to ENA.

Attached is the latest draft of the GE Breakout agreement between ENA and GE.
 In order to complete the breakout agreement, the lawyers need you guys to
review section 10 regarding site specific performance guarantees and provide
comments.  Also, please let us (Kay Mann and myself) know what Exhibit F and
U should contain.  The GE lawyers indicated they would provide the first
draft soon.

Let us know you thoughts as soon as possible.

Regards,

Eric

---------------------- Forwarded by Eric Boyt/Corp/Enron on 11/27/2000 11:15
AM ---------------------------

Kay Mann
11/27/2000 09:05 AM
To: Eric Boyt/Corp/Enron@Enron, Catherine Clark/HOU/ECT@ECT, Stuart
Zisman/HOU/ECT@ECT
cc: Sheila Tweed/HOU/ECT@ECT, Roseann Engeldorf/Corp/Enron@ENRON

Subject: City of Austin Agreement

FYI.  I hope to have a conversation with GE today regarding finishing this
document, including the exhibits.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 11/27/2000 08:58
AM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 11/22/2000 02:42:23 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>, "Cobb, Chris"
<chriscobb@akllp.com>

Subject: City of Austin Agreement

Attached please find a clean copy of the City of Austin Facility
Agreement, as well as a blackline showing changes to the document agreed
to by GE.  To complete the agreement the following needs to be inserted:

1. For the recitals, the kW capacity of its plant and  the location
of the plant.

2. All exhibits, including Exhibit N-3 (which is the original price
for each unit) and Exhibit U, which contains the Site specific material.
The Table of Contents should then be run to include all of the exhibits.

3. The agreement reference in 6.7.1

4. The payee and address for invoices in 6.7.2

5. The names, addresses, etc. for Sections 25.1 and 25.3
 <<Comparison of the Gas Turbine Agreement.DOC>>  <<Gas Turbine
Agreement Draft of 11/22/00.DOC>>
 - Comparison of the Gas Turbine Agreement.DOC
 - 00.DOC


They were not hopeful - making the call this am


The 15th is Enron's Management Conference and the 22nd is Thanksgiving.  Any other dates?

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Monday, October 22, 2001 6:29 PM
To:	Richter, Brad
Subject:	Meeting with Perfect

Hi Brad:
I finally got in touch with the people from Perfect.  They'll be in Houston on the 15th and the 22nd of November.  Either of those days work for you?  If so, any time preference?

Best,
Jeff


Member Services
Notice No. MS-23
April 20, 2001

COMMODITY EXCHANGE, INC.

TERMINATION OF AFFILIATION

Please be advised that effective the close of business, April 20, 2001, Eric
Zuccarelli (ZUKE-7441) will no longer be affiliated with J & B Commodities.
However, Mr. Zuccarelli will remain a member guaranteed Pioneer Futures, Inc.

 NOTICE OF INTENTION TO TRANSFER MEMBERSHIP

Notice of Intention to Transfer Membership has been posted on the bulletin
board of the Exchange by:

Steven DelGado (DLAS-6347)

In connection therewith, notification of any claims against the
aforementioned individual arising out of transactions executed on the
Exchange up to the close of business on April 20, 2001, must be submitted to
the Corporate Secretary's Office within ten (10) days.

Inquiries regarding the above should be directed to the Member Services
Department at (212) 299-2370.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(MS-23)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


27.5 Separate Advice or Assistance.  If Seller furnishes Purchaser with
advice or assistance which is clearly not required by this Agreement, Seller
shall not be subject to any liability whether in contract, warranty, tort
(including negligence or strict liability without regard to fault), indemnity
or otherwise in connection with Seller,s provision of such out of scope of
service advice or assistance, so long as such advice or assistance is given
in good faith and in accordance with industry standards.
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/21/2000 02:50
PM ---------------------------

Martin W Penkwitz
08/21/2000 11:18 AM
To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt
cc: Kay Mann/Corp/Enron@Enron, Sheila Tweed/HOU/ECT@ECT

Subject: GE Form - Revisions as to Indemnity and LOL

Scott:

Please see the attached redlined copy of the referenced provisions.  Please
review and give me a call with any questions you may have.

Marty

Martin Wm. Penkwitz
Enron North America Corp. - Legal
1400 Smith St.  Suite 3840
Houston, TX  77002
713.345-7101
Martin.W.Penkwitz@enron.com


INTERVIEW: New Enron CFO On Ambitions In Forest Products
Dow Jones Commodities Service, 10/30/01

Enron Shares Fall a Day After Moody's Lowers Rating (Update1)
Bloomberg, 10/30/01

Enron Bond Default Insurance Doubles on Credit Woes (Update1)
Bloomberg, 10/30/01

USA: UPDATE 1-Enron shares renew plunge, drop to eight-year lows.
Reuters English News Service, 10/30/01

USA: Enron shares continue slide.
Reuters English News Service, 10/30/01
STOCKWATCH Enron falls 18 pct on concerns about co's credit worthiness
AFX News, 10/30/01
USA: U.S. stocks slump on big drop in consumer confidence.
Reuters English News Service, 10/30/01
Analyst Report
CNNfn: Before Hours, 10/30/01
Waiting for Enron's Bottom
RealMoney.com, 10/30/01

GERMANY: German watchdog may sue firms over power charges.
Reuters English News Service, 10/30/01

INTERVIEW: New Enron CFO On Ambitions In Forest Products
By Zahida Hafeez
Of DOW JONES NEWSWIRES

10/30/2001
Dow Jones Commodities Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

CHICAGO -(Dow Jones)- While Enron Industrial Markets' trading of forest products has grown at a steady pace, Jeff McMahon, the new chief financial officer of Enron Corp. (ENE), said one of the "biggest obstacles" to the unit's even better performance remains strong publisher-producer relationships.
In an interview with Dow Jones Newswires on Oct. 23, when he was chief executive of Enron Industrial Markets and before his appointment as Enron CFO, McMahon said "we may end up changing that relationship" between producers and consumers. That may seem like a tall order in an industry which functions on decades-long ties, though sometimes ties based on a love-hate relationship.
However, judging from the steady growth so far in Enron's newsprint trading as well as expectations for growth by the end of 2001, Enron is making headway in the physical trading of forest products.
The volume of newsprint Enron bought and sold jumped from less than 5,000 metric tons in January to 60,000 tons in July. And by the end of the year, Enron officials expect their monthly newsprint transactions volume will have doubled July's levels to reach 120,000 tons.
However, even with such expectations for growth in the monthly transactions volume, becoming a major player in the forest products industry may take a while for Enron to achieve.
Enron's projected volumes for newsprint sales and purchases form a small portion of the total annual sales estimated at roughly 15 million tons for the North American region.
"In three years, will we look like an Abitibi? No, that's not our goal," said McMahon, referring to Abitibi-Consolidated Inc. (ABY), the world's largest newsprint-maker. "Our goal is to be (one of) the largest marketers of newsprint in North America...to fundamentally change the way newsprint is bought and sold in North America, in giving consumers and producers additional ways to manage their risks," he said.
The way the forest products industry currently manages price fluctuations - undesirable from both the producer and publisher standpoint - hasn't worked, whether it's through producers asking customers to trust them or through supply management, McMahon argued.
Referring to a graph of price fluctuations superimposed on inventory levels, McMahon said, "I wonder if inventory levels are a leader or follower of price change? It's the which-came-first-the-chicken-or-the-egg question."
"(The price volatility) has been around for 100 years, why will it be fixed in 2002?" he asked.
The best way to diminish price gyrations, McMahon said, is to lock in long-term prices through Enron's financial hedging tools. Even the company's physical trading end ultimately serves to promote a market for its hedging products.

Other Hurdles In Growing Newsprint Trading Volumes

For now, McMahon concedes that Enron Industrial Market's forest products operations have to overcome some hurdles. One other major hindrance has been the fact that Enron's message has been a hard sell to production managers at printing presses.
Some purchasing managers and production managers at U.S. publishers argue that their printing presses are very sensitive to the quality of newsprint and fear that Enron's newsprint may not be up to the mark.
Such thinking is misguided, Enron officials counter, because a majority of publishers across the country use printing presses made by the same maker, and yet, those who have tried Enron's newsprint are happy with its quality.
In any case, when more production managers start to get convinced of Enron's ability to provide product that will satisfy their printing presses' specifications, "That's where the evolution starts to happen," said McMahon.
Another way McMahon believes his company can accomplish its goals is to create a pricing benchmark.
Though the various qualities and grades of newsprint will still exist, "physical newsprint can price off that benchmark once that (standard) is achieved," he explained.

Former CFO Imbroglio Doesn't Affect Forest Pdts Arm

McMahon replaced Andrew Fastow as CFO last week amid an informal investigation by the Securities and Exchange Commission into the company's finances as well as talk of losses stemming from partnerships managed by Fastow and the subsequent plunge in Enron's stock price.
The energy giant said Monday it was lobbying banks for a new credit line as Enron struggles to bounce back from a disappointing third-quarter and the Fastow-related transactions.
Although McMahon was unavailable for an updated comment, Karen Denne, vice president of communications, said Enron Industrial Markets venture in forest products will stay on the same course without any pullback in capital despite the company's current struggles.
Enron began its physical trading of newsprint and other forest products more than a year ago, while it has been offering financial hedging tools in the sector for the past five years.
-By Zahida Hafeez, Dow Jones Newswires;
312-750-4132; zahida.hafeez@dowjones.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron Shares Fall a Day After Moody's Lowers Rating (Update1)
2001-10-30 13:19 (New York)

Enron Shares Fall a Day After Moody's Lowers Rating (Update1)

     (Updates with comment from AEP, Exelon and Northeast
Utilities on trading business starting in sixth paragraph.)

     Houston, Oct. 30 (Bloomberg) -- Enron Corp. shares fell as
much as 20 percent a day after Moody's Investors Service placed
the largest energy trader's rating for commercial paper on review
for downgrade and lowered its long-term debt to two notches above
junk status.

     Shares of Enron fell $2.60, or 19 percent, to $11.21 in early
afternoon trading. Earlier, they touched $11, the lowest price
since January 1993. The stock, down for the 10th day in a row, had
dropped 83 percent this year.

     Moody's lowered Enron's long-term credit rating to ``Baa2''
from ``Baa1'' yesterday. It also placed the company's ``P-2''
rating for commercial paper on review for possible downgrade.

     ``I think investors would have loved to have no downgrade or
a more stable outlook for the company,'' Commerzbank Securities
analyst Andre Meade said. ``Moody's left some uncertainty.''
     Meade doesn't own Enron shares and rates the company
``accumulate.''

     Executives from Exelon Corp., American Electric Power Co. and
Northeast Utilities said they still are trading with Enron.

                        `Watching Closely'

     ``Nervous is probably not the right word, but we are watching
very closely,'' AEP Chief Executive Officer Linn Draper said at an
energy conference in New Orleans. ``We are focusing our new deals
with them in the short term, November and December,''

     Columbus, Ohio-based AEP is the biggest U.S. electricity
generator. Traders often buy and sell power for delivery the next
day or for over a week, month, quarter or calendar year. The
Bloomberg Energy Service is quoting power prices for as far ahead
as September 2003.

     ``We are keeping a close eye on our exposure,'' Exelon Corp.
Co-Chief Executive Officer John Rowe said at the conference. ``We
are keeping a tight dollar limit on trades.'' He declined to
provide specifics.

     Chicago-based Exelon is the biggest U.S. nuclear-power
producer.

     ``Three weeks ago, we started monitoring our position with
Enron,'' Northeast Chief Financial Officer John Forsgren said at
the conference. ``Right now, we have a net payable to them, so
there's no exposure on our side, and we'll probably keep it that
way.''

     Northeast, based in Berlin, Connecticut, will continue to
trade with Enron as long as its debt ratings remain investment
grade, Forsgren said. Northeast is New England's biggest utility
owner.

                            SEC Inquiry

     The Wall Street Journal reported that a U.S. Security and
Exchange Commission inquiry into Enron's financial dealings with
affiliates, run by the company's former chief financial officer
Andrew Fastow, has moved to Washington, signaling the
investigation has become more serious.

      Investors say they are worried about $3.3 billion in
liabilities from the affiliates, which were formed to buy and sell
Enron assets. Houston-based Enron ousted Fastow on Wednesday amid
the SEC inquiry into the partnerships he ran that cost the company
at least $35 million.

     Other energy stocks also fell today as the price of natural
gas on the New York Mercantile Exchange dropped as much as 3.7
percent. The Standard & Poor's 500 Index as much as 2.3 percent as
consumer confidence in the U.S. economy dropped in October to the
lowest level in more than 7 1/2 years.

     Shares of Duke Energy Corp. fell $1.33 to $37.81. Dynegy Inc.
dropped $2.23, or 5.7 percent, to $36.70. El Paso Corp. fell
$1.44, or 2.8 percent, to $49.30. Exxon Mobil Corp. fell $1.15 to
$39.53.

--Mark Johnson in the Princeton newsroom, (609) 750-4662

Enron Bond Default Insurance Doubles on Credit Woes (Update1)
2001-10-30 12:58 (New York)

Enron Bond Default Insurance Doubles on Credit Woes (Update1)

     (Adds background on asset write-offs in seventh paragraph.)

     New York, Oct. 30 (Bloomberg) -- Insurance premiums have
doubled for Enron Corp. bondholders as investors seek protection
amid questions about whether Enron will pay its debts and keep its
investment-grade credit rating.

     A contract to protect against a default for the next 18
months has increased to an annual fee of between 13.5 and 16.5
percent of face value, up from 6.5 to 7.5 percent a week earlier,
according to CreditSights Inc.

     Enron shares fell as much as $2.74, or 20 percent, to $11.07.
The stock has lost 65 percent of its value since Oct. 17. Enron's
6.4 percent coupon bonds due in 2006 were bid at 74 cents on the
dollar, traders said, down as much as 6 cents from yesterday's
price of 80 cents. The debt now yields 14.1 percent, up from 12.1
percent yesterday and 10.8 percent on Friday.

     Banks are ``scrambling to hedge their exposure in the credit
protection market,'' said Peter Petas, a debt analyst at
CreditSights.

     John Tompkins, a trader at CreditTrade, a credit derivatives
brokerage, said there's interest among buyers, though not sellers
of Enron default swaps. He said there are bids for Enron credit
default swaps at 7 to 8 percent annually for five years'
protection and 12 percent annually on the three years' contract --
with no offers.

     ``Enron is atrocious today,'' he said.

                            Undisclosed

     The largest energy trader's troubles began two weeks ago when
it reported $1.01 billion in losses, including more than $544
million written off on a competitive energy supplier business and
a bandwidth trading business. Enron formed at least 18 affiliated
companies to buy and sell company assets, according to records
from the Texas secretary of state. Some of those affiliates
profited from buying or selling assets to Enron.

     The Houston-based company losses included $35 million from
partnerships set up by Chief Financial Officer Andrew Fastow.
Fastow was later fired and the U.S. Securities and Exchange
Commission has asked for information about the transactions.

     The disclosure has set off concern among investors about how
little is known about Enron's balance sheet and caused ratings
companies to examine the company.

     ``Investors are nervous about this name,'' said Freda Lam, a
credit strategist at J.P. Morgan Chase & Co. in New York.

                        Investor Relations

     Enron's long-term debt rating was cut yesterday to ``Baa2,''
two levels above junk, from ``Baa1.'' Moody's also placed the
Houston-based company's ``P-2'' rating for commercial paper --
borrowing for nine-months or less -- on review for downgrade.
Enron has been shut off from the commercial paper market since the
ratings agencies began the review.

     The lack of access to money markets makes it more difficult
for Enron to borrow the short-term cash needed to run its trading
businesses. Ahead of a potential cut, Enron took out bank lines to
repay $2 billion in commercial paper last week.

     Still, most of Wall Street expects Enron's bonds to be paid
and its stock price to bounce back.

     ``We suspect that Enron's share price will not likely recover
in the near term,'' Lam said. ``We ultimately expect this company
to be successful. But it needs to improve its investor relations
and its disclosure.''

--Tom Kohn in the London newsroom (44-20) 7330 7929

USA: UPDATE 1-Enron shares renew plunge, drop to eight-year lows.

10/30/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 30 (Reuters) - Shares of Enron Corp. on Tuesday dropped to eight-year lows, a day after the energy giant said it is seeking fresh credit and a rating agency cut some of the company's debt to two notches above junk status.
Enron's stock plunged $2.56, or more than 18 percent, to $11.25 in morning trading on the New York Stock Exchange. The shares have tumbled every day since Oct. 16, when North America's biggest marketer and trader of natural gas and power reported its first quarterly loss in more than four years.
The last time the shares traded below $12 was in January 1993.
After cutting Enron's senior unsecured debt rating on Monday, Moody's Investors Service warned it could lower the rating even further, as well as cut Enron's short-term debt status.
Also on Monday, Enron confirmed that it was seeking additional credit lines after tapping its $3.3 billion credit lines last week. However, the company declined to say how much it was asking its banks to extend.
Houston-based Enron has lost more than $15 billion in market capitalization in the past two weeks amid a series of disclosures about off-balance-sheet deals with partnerships run by a former chief financial officer.
Shares have plummeted amid concerns about the transactions the Securities and Exchange Commission said it was looking in to. In a move to bolster investor confidence, Enron last week ousted the CFO linked to the transactions and named a new one.
When Enron released its financial results two weeks ago, the company a day later said it was writing down shareholders' equity by $1.2 billion, a move that surprised investors.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

USA: Enron shares continue slide.

10/30/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 30 (Reuters) - Shares of Enron Corp. on Tuesday dropped to their lowest level in more than eight years, a day after the energy giant said it was lobbying banks for a new credit line and a rating agency downgraded the company's senior unsecured debt to two notches above junk status.
Enron's stock was down $1.06, or 7.68 percent, to $12.75, nearly an eight-year low, in early trading on the New York Stock Exchange. The last time the shares fell below $13 was in February 1993.
After cutting Enron's rating, Moody's Investors Service warned that it could lower the rating even further, as well as cut Enron's short-term debt status.
Houston-based Enron has lost about $15 billion in market capitalization amid a series of negative disclosures about off-balance-sheet deals with two partnerships. Investors looking for answers have abandoned Enron, which has firmly declined to provide details.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

STOCKWATCH Enron falls 18 pct on concerns about co's credit worthiness

10/30/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

NEW YORK (AFX) - Shares of Enron Corp were sharply lower in afternoon trade, losing over 18 pct, on concern over the company's credit worthiness, a day after it said it is negotiating with banks for a new credit line and Moody's Investor Service cut the company's senior unsecured long-term debt ratings, dealers said.
At 1.37 pm, shares of Enron were trading 2.47 usd lower, or 18.18 pct, at 11.34.
The DJIA fell 144.75 points to 9,124.75, the S&P 500 lost 17.57 points to 1,060.83, while the Nasdaq composite declined 33.72 points to 1,665.75.
On Monday, Moody's said it has lowered the senior unsecured long-term debt ratings of Enron Corp to Baa2 from Baa1 following a deterioration in the company's financial flexibility since it announced significant writedowns as well as equity charges in previously undisclosed partnership investments.
The long-term debt ratings remain on review for further downgrade, Moody's said.
In its third-quarter results two weeks ago, Enron announced a charge of 1.01 bln usd, or 1.11 usd per share, and an incremental 1.2 bln usd reduction stockholders' equity, related to the unwinding of investments with the LJM partnerships.
The Securities and Exchange Commission requested the company to provide information on these related-party transactions days later. Many analysts responded by cutting the shares ratings on concerns that dealings with the related LJM partnership, connected to its then chief financial officer, Andrew Fastow, may affect future earnings.
Fastow was dismissed by Enron's board last Thursday for his involvement in running the LJM partnerships, in which Enron had invested.
Enron's heavy investments in water, broadband and international energy have come under significant pressure in the wake of the current economic deterioration.
Following the company's third-quarter results, investors have been abandoning the stock in droves, worried that the valuation and credibility of Enron's core business, merchant energy, is at risk. "The Big Bets that Enron took on water and broadband were designed to overcome future limits to growth in its very successful energy merchant business and propel Enron into a new league of company.
"The Bets turned out to be too big, and regrouping after they failed is the root of the current confusion over Enron's forward prospects," said Duane Grubert, an analyst at Bernstein.
While Enron can survive on its own, its reputation and branding has been damaged, said Grubert, noting that a partnership might be the best long term solution for the energy trader.
The major issue for the company is maintaining its credit worthiness on long-term investment grade rating of its debt.
"If that rating is lost, the merchant business will not be able to transact with its normal addressable market, and income is likely to shrink quickly."
blms/lj For more information and to contact AFX: www.afxnews.com and www.afxpress.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

USA: U.S. stocks slump on big drop in consumer confidence.
By Denise Duclaux

10/30/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 30 (Reuters) - Stocks were rooted in negative ground at midday on Tuesday as consumer confidence in October tumbled to its worst level in more than seven years after the deadly Sept. 11 attacks left the nation reeling.
Fragile consumer sentiment added just one more layer of apprehension to Wall Street. Stocks began on a weak note amid dour outlooks from companies like software provider Openwave Systems Inc. , concern that Argentina will default on its $132 billion debt load and fear of more deadly attacks on the United States.
"The very weak consumer confidence numbers threw fuel on the fire, the market had already been sliding back from what had been fairly substantial gains," said Rick Meckler, president of investment firm LibertyView, which oversees $1 billion. "It just encouraged those people who had profits at all to take their profits now before the market is considerably lower."
The blue-chip Dow Jones industrial average slumped 120.62 points, or 1.3 percent, to 9,148.88, after falling 2 percent earlier. McDonald's Corp. , off $1.58 at $25.70, dragged on the Dow after the world's largest fast-food restaurant company projected 2002 earnings below Wall Street's forecasts.
The tech-laced Nasdaq Composite Index fell 27.04 points, or 1.59 percent, to 1,672.48, after dropping 3 percent. Juniper Networks Inc. lost 27 cents to $23.73 after Merrill Lynch cut its rating on the network equipment maker after its shares more than doubled in the last month.
The broader Standard & Poor's 500 Index lost 14.77 points, or 1.37 percent, at 1,063.53. On Monday, stocks suffered their steepest drop since the week after the Sept. 11 attacks.
Adding pressure to Wall Street, U.S. Attorney General John Ashcroft warned militants may be plotting new attacks on the United States at home and abroad in the next week.
Stocks sank on Monday after a rally last week stoked by hopes that lower interest rates and more tax cuts will revive the economy by 2002. Many economists are betting on an economic bounce next year, but they warn of grim news in the meantime.
"We are waiting for the economic news to indicate that the unprecedented levels of fiscal and monetary stimulus will have their desired impact, but it's going to be months before that can happen," said Tony Dwyer, chief market strategist at Kirlin Securities. "It's going to be choppy."
Losers trounced winners on the New York Stock Exchange by a ratio of 5 to 2 and 7 to 3 on Nasdaq. More than 630 million shares changed hands on the Big Board, and more than 930 million on Nasdaq.
U.S. consumer confidence plummeted in October to its lowest in more than seven years as growing numbers of Americans lost their jobs, according to a survey conducted after the Sept. 11 attacks on the United States.
The Conference Board, a private business research group, said its index of consumer confidence plunged for a fourth straight month to 85.5 in October, its lowest since February 1994.
The report, which was much worse than Wall Street expectations for a fall to 95.6, said a rebound in confidence was not likely any time soon. Fading consumer confidence could undermine consumer spending, which drives two-thirds of activity in an economy most believe is already in recession.
The third-quarter earnings reporting season is winding down, but Wall Street is girding for this week's heavy load of economic data. The data will include reports on jobs, manufacturing and third-quarter growth, which could point to a recession.
"The premise has been that sometime in the spring there will be an economic recovery, but now it's October and you can't play that game every day," said Larry Wachtel, senior vice president at Prudential Securities. "All the news continues to be bad. When we were oversold, we were able to get over it. But now we are overbought and it's a struggle every day."
Ford Motor Co. , the world's second largest auto maker, shed 3 cent to $16.18. The company ousted President and Chief Executive Jacques Nasser after more than a year of mounting troubles and will replace him with Chairman William Clay Ford Jr.
Openwave Systems Inc. sank more than 21 percent, or $1.89, to $7.10. The communications software provider warned of disappointing results and was restructuring and slashing jobs.
Enron Corp. lost $2.57 to $11.24, dipping below $12 for the first time since January 1993. The energy giant is lobbying banks for a new credit line and a rating agency chopped Enron's senior unsecured debt to two notches above junk status.
Philip Morris Cos. Inc. , the world's largest tobacco company, dropped $1.87 to $47.81. Investment house Goldman Sachs removed the Dow component from its recommended list, saying profit growth is likely to slow at its domestic and international tobacco operations.
The stock of Health insurer Anthem Inc. rose $4.56 to $40.56 in its debut on the NYSE, boosting hopes for a recovery in the moribund market for initial public offerings.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Business
Analyst Report
David Haffenreffer

10/30/2001
CNNfn: Before Hours
(c) Copyright Federal Document Clearing House. All Rights Reserved.

DAVID HAFFENREFFER, CNNfn ANCHOR, BEFORE HOURS: Welcome back. Investors are watching for the next move from the nation`s largest natural gas and power marketing company, Enron (URL: http://.www.enron.com/) . The battered energy trader attempting to establish credit lines. And Moody`s downgraded the company`s credit rating to just a couple of notches above junk status. Enron`s stock, take a look at this, plunged more than 10 percent, that was just yesterday. It has lost about 50 percent over the past two weeks.
How are Enron`s woes affecting the natural gas market? Joining us now is Robert Collins, the president of the New York Mercantile Exchange. And welcome back to the program.
J. ROBERT COLLINS, PRESIDENT, NYMEX: Thank you.
HAFFENREFFER: Certainly Enron is very much involved in the trading of natural gas. And this has got to where which trades on the NYMEX. How have the levels, the of high levels, of certainty surrounding this companies current problems affected that?
COLLINS: Well, any time that a company goes through a short term period of troubles, the industry surrounding that, that has an intricate layer of credit relationships, is concerned about their ability to be paid.
HAFFENREFFER: But for people who don`t know what Enron does, what role do they play in the trading of natural gas futures?
COLLINS: Well, they are a major counter-party in the natural gas industry in trading, selling and distributing natural gas. And so, they have an extensive network of credit relationship with virtually every natural gas company in the North American industry.
HAFFENREFFER: Are they involved, in some way, with almost every trade having to do with natural gas? Are they that big?
COLLINS: No. I wouldn`t say that they`re involved with every trade. They`re involved in a substantial amount of trading through their electronic market making system. But, no, they`re only a component of the market, and only do, perhaps, a percentage of what trades on the NYMEX.
HAFFENREFFER: So when trading takes place, and it`s very fast, there`s a lot of money changing hands all the time. There`s a lot of credit given to people trading and when a company like Enron has got some liquidity problems, or just even fears of liquidity problems, that can affect people who do trades with them.
COLLINS: Yes. Absolutely. It can cause people to retract from trading. It can cause disruptions in the natural flow of trading. It`s not unlike the financial markets at all. When you have a serious credit concern.
HAFFENREFFER: As result, the NYMEX is working at a faster clip to get a clearing service set up. Is that right? And explain what role will that have in easing people`s fears.
COLLINS: Well, last night, the board approved offering a new service called over-the-counter clearing. We`re extending it initially on our primary natural gas contract, the Henry Hub Natural Gas Futures. What that does is allow counter-parties that perhaps may question each other`s credit worthiness to place the trade on the exchange clearing mechanism. That`s a network of 50 financial institutions and has AA credit standard.
HAFFENREFFER: Real quick. It`s been about a month and a half since September 11th.
COLLINS: Yes.
HAFFENREFFER: Are things back to normal?
COLLINS: I wouldn`t say that they`re back to normal. Although every day gets a little better.
HAFFENREFFER: All right. Good to see you.
COLLINS: Thank you.
HAFFENREFFER: Bob Collins, NYMEX president.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Waiting for Enron's Bottom
By James J. Cramer <mailto:jjcletters@thestreet.com>

RealMoney.com
10/30/2001 09:17 AM EST
URL: <http://www.thestreet.com/p/rmoney/jamesjcramer/10003209.html>

You want to know when you can buy Enron (ENE:NYSE - news - commentary) ? It will have nothing to do with the fundamentals. I'm pretty sure that the investment banks will do whatever is necessary to keep this oil and gas version of Long Term Capital Management, the hedge fund that blew up, in business, if only because it was everybody's best client.
These days, though, when concentration of holdings among mutual funds is still the rage, as idiotic as it is, all you need to know about Enron's bottoming is when Janus is done selling it. Janus' aggressive buying -- the fund owned 50 million shares of this thing not long ago, which is a staggering concentration -- moved the stock up to begin with.
My sources indicate that Janus has been dumping the stock. I don't think you can possibly make a decision whether to buy it without knowing when Janus is done. That's the key material fact, not whether Enron gets the credit line.
The game wasn't always like this. Other than Ken Heebner in the '80s, most mutual fund managers didn't try to be bigger than the market. They didn't try to move up stocks by buying. And they certainly didn't wreck stocks on the go out.
Ah, but the years 2000 and 2001 have brought about a different paradigm. When these mutual funds dump, they dump terribly and really damage the stock, which then damages the company, which then damages the company's credit, which then further damages the stock again. It is a really vicious circle that starts with the selling by the funds that created the darling.
I wouldn't touch this stock unless I knew that Janus was done selling. Of course, that will be a big secret, because Janus sure isn't going to tell you, and the broker isn't going to tell you. I have had brokers on the sly tell me when these folks have finished, but I fear that Janus will finish with one broker then just go to another, as that is also their "style" of trading. I put quote marks on style because the reality is that a "style" would mean they know how to trade out of a big position, and these folks really don't.
Of course, what they should have done is gotten a bid for 50 million shares down two or three points rather than play this drib and drab game. But they never did learn to sell at that shop, which is another reason why you can't do business with them now that the market is no longer straight-up.
So there really will be no way of knowing until you see the volume of this stock rise and the stock itself start going up. For those of you who believe Enron will make it, it's best to miss the first two points just to be sure Janus is done. I will keep my eyes out for you, too.
We'll spot the bottom, if there is one, together.
Random musings: Think you are a good trader? Think you can trade with the big boys? Think you want to be able to catch on with a hedge fund? Want to pick up five G's in the interim? OK, then, enter our trading contest. That's right, we have a contest where there's real money on the line once you have entered it, real prize money. This could be the test, the verified test, you need to show guys like Berko, my old partner, that you know how to trade to make money. I can't tell you how valuable that validation can be for your career.
And you get paid to boot!
Sign up here for the contest. I do hope you join.

GERMANY: German watchdog may sue firms over power charges.
By Claire-Louise Isted

10/30/2001
Reuters English News Service
(C) Reuters Limited 2001.

FRANKFURT, Oct 30 (Reuters) - Germany's cartel office said on Tuesday it would take legal action against four utilities if they did not change the way they charge competitors for power used to keep the grid in balance.
"We have to wait for the reaction of the four companies to see if they will change their accounting system so that they do not hinder other competitiors," cartel office spokesman Stefan Siebert told Reuters.
"If they don't do that, then ultimately we could issue an injunction to force them to do so."
The competition authority said earlier in a statement it had received complaints that grid operators Bewag (BKLG.DE, EnBW , HEW and Veag that the four firms "charge their competitors unreasonable and partly fictitious costs" for balancing energy.
German grid operators have sole control over the purchase and sale of such power in their grid areas, which they control by temporarily switching on and off their power plants. This poses a potential threat to other power suppliers.
"New entrants to the German market, such as London's Enron Capital & Resources and Hamburg's LichtBlick, because of their small customer portfolios, cannot balance unplanned amounts of power withdrawn as well as the big utilitiy groups can," the statement said.
"Consequently they have a greater need for balancing energy (and) are threatened with the considerable burden of unreasonable prices for it."
The four utilities have argued that the accounting system they use for balancing energy corresponds to guidelines in the country's association agreement (VV2), which is due to be modified by next year.
"Illegal cartel conduct cannot be justified through the association agreement," said cartel office president Ulf Boege in the statement.
"References to the agreement show rather that there is an urgent need for action in VV 2, which is currently being modified, to develop regulations on the accounting of balancing energy that conform with cartel law," he added.
Utilities RWE and E.ON have introduced an auction system for their balancing energy needs to provide a market to other potential generators, as a condition of their respective mergers last year.
RWE Net's Regulating Power Manager Klaus Albers said last week that the system it introduced in April, which is based on a cartel office model, had not so far produced the lower prices it was designed to.
He said he expected all grid operators to introduce a market for their balancing energy needs within two years.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


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----- Forwarded by Steven J Kean/NA/Enron on 10/04/2000 09:06 AM -----

	Ann M Schmidt
	10/04/2000 08:44 AM

		 To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Mary
Clark/Corp/Enron@ENRON, Elizabeth Linnell/NA/Enron@Enron, Laura
Schwartz/Corp/Enron@Enron
		 cc:
		 Subject: Enron Mentions

Letters
Letters

10/09/2000
Time Magazine
Time Inc.
12+
(Copyright 2000)

Byzantine Practices?
I was flying over Bolivia's Chiquitano Forest as I read your article on the
"old-time gas company" Enron [BUSINESS, Aug. 28]. Over the past year, this
forest, the largest remnant of intact primary dry tropical forest in the
world, has been bisected by a 30-ft.-wide gash for construction of a gas
pipeline by Enron and Shell. Enron in its quest for profit has ignored the
scientific advice of conservation organizations to maintain the ecological
integrity of this endangered forest ecosystem. Enron and Shell decided to
open the 10 million- acre forest to fragmentation and deforestation by their
pipeline. Enron may be keeping pace with advancing technologies to plow ahead
in global markets, but its environmental practices are Byzantine and pose a
global threat to biodiversity. PATRICIA CAFFREY World Wildlife Fund-Bolivia
Santa Cruz, Bolivia

Arena foes launch bid to defeat new plan
By ERIC BERGER
Copyright 2000 Houston Chronicle
Wednesday, October 4, 2000
A handful of activists, including a Harris County Green Party official and
several low-tax proponents, launched an effort Tuesday to defeat a second
plan to build a downtown arena.
Unlike the 1999 opposition campaign, this year's anti-arena movement is not
seeking a better financing deal for taxpayers. These activists want no arena
at all.
Although this year's opponents lack the nearly $700,000 their higher-profile
predecessors spent last year, that has done little to diminish their
rhetoric.
"Should we spend our city's limited resources on building up rich guys, or do
we spend it building up our communities?" asked activist DeWayne Lark,
standing in front of City Hall. "There will be no more corporate welfare in
Harris County."
Pro-arena campaign officials said Tuesday's event, which came about three
weeks after their own kickoff, was more notable for who did not attend than
for who did.
Houston Aeros owner Chuck Watson, who funded a large chunk of last year's
anti-arena effort, has endorsed the new deal. Gracie Saenz, a former city
councilwoman and mayoral candidate who campaigned against the 1999 deal, also
supports the new agreement.
And although the Harris County Republican Party -- the primary organizer of
the 1999 anti-arena effort -- has declined to support the new deal, it has
not been as active in opposition as some of its members had hoped.
In the GOP's stead this year is the Harris County Green Party, represented by
Nathalie Paravicini, who said she rejects the argument that professional
sports are critical to a city's identity.
Arena boosters say a new downtown facility will promote Houston's image as a
world-class city.
"Civic pride is not measured by a sports team that is ready to leave town at
the drop of a hat," she said.
And organizers of the anti-arena campaign also suggested that conservative
political activist Bruce Hotze would announce plans Thursday to take a major
role in their efforts, possibly becoming campaign manager.
Although Hotze lacks the political and financial stature of the pro-arena
campaign co-chairmen, Enron Corp. Chairman and Chief Executive Ken Lay and
former Reliant Energy Chairman Don Jordan, he comes from a politically active
family that can raise large amounts of money.
Hotze has said he does not believe government should be involved in building
sports stadiums, but he has declined to say how much he was willing to get
involved in the anti-arena effort.
Lark said Hotze told him that he will actively raise funds to fight the
arena. The group is expected to form a political action committee this week
to collect contributions.
The philosophy of the anti-sports-arena efforts has reverted to its 1996
form, when a similar grass-roots effort coalesced to oppose the referendum to
build a baseball stadium, which voters approved. That underfunded effort also
opposed any public spending on stadiums, rather than merely trying to extract
a better deal from team owners.
Arena proponents this year have attracted most of their former foes, and
certainly the best-known, to their ranks by altering the original proposal,
which failed with voters last year by 10 percentage points.
Still, they acknowledge that there will always be opposition in high-profile
contests.
"We never expected this to be a unanimous vote," said Jordan, the co-chairman
of the pro-arena campaign, Let's Build it Together. "Some people will vote
against anything."

FRANCE: Europe online power markets seen pressuring brokers.
By Stuart Penson

10/03/2000
Reuters English News Service
(C) Reuters Limited 2000.

PARIS, Oct 3 (Reuters) - Online trading is set to sweep through Europe's
power markets, sending transaction fees sharply lower and piling the pressure
on traditional brokers, industry executives and consultants said on Tuesday.
Scores of web-based trading platforms, offering a variety of functions, are
expected to enter the European wholesale power market in the near term,
forcing brokers who work over the telephone to rethink their approach, they
told an energy conference.
"Transaction fees in Europe are already falling and I think we're going to
see a big decline over the next six months," said Gilbert Toppin, principal
of Deloitte Consulting's European e-business practice.
"Voice broking could become a distant memory," he told Reuters during the
Powerisk 2000 conference.
Leading the online charge in Europe's wholesale power market are EnronOnline,
which launched last year, and HoustonStreet.com, which started up last week
and is already planning to expand into Scandinavia.
EnronOnline is a bilateral market in which Enron is always one party to a
deal. HoustonStreet is a multilateral exchange.
The major advantages for online markets over telephone brokers are seen as
lower transaction costs and the ability to display a far wider range of
prices to clients.
Also, online trading is anonymous, which is attractive to traders, said Mark
Crosno, president of electronic trading services at Altra Energy Technologies
of the US.
Altra is a partner with National Grid in EnMO in the UK, a consortium which
runs a screen-based gas trading market and is planning to launch a power
exchange.
Many traditional brokers are still deciding how to respond to the online
challenge.
"A lot of brokers are scratching their heads because there are going to be 20
or 25 electronic exchanges out there," said Per-Otto Wold, managing director
of Natsource-Tullett Europe, one of Europe's biggest power brokers.
Wold argued that doing a trade over the telephone was still, in most cases,
the quickest method. And that would remain so until voice recognition enabled
traders to "talk" to the screens on their desks.
He expected brokers to focus on longer dated trades and options while online
markets would capture a greater share of trading in short term, high volume
contracts.
The provision of market information and traders' liking for personal contact
over the telephone would also help to preserve a niche for the voice brokers,
said Wold.
"The markets are still going to need somebody to massage the markets, and
that is where the brokers come in," he said.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


Here's the calcs I used for purposes of evaluating proposals for July - Oct,
EOT to PG&E (Mojave values should be similar):

Current basis

EPNG Permian    -$0.41
SoCal Border    +$0.12
 Gross Spread   +$0.53

Fuel 5%     -$0.18 NYMEX, $4.10 minus $.41 basis = $3.49/MMBtu
 SoCal Spread Net Fuel  +$0.35

Current market diff. SoCal v. PG&E -$0.20 (+/-) *variable according to market
maker
Spread value (financial)   +$0.15

Physical v. financial diff.   -$0.03 (+/-)
Spread value (physical)   +$0.12

USGT called back and said they'd be willing to do th $0.12.  I told them we'd
heard higher, maybe as high as something with a "two" in it.  She called back
and said they could maybe get to a mid-teens number, but certainly not 20's.


Dr . Kaminski,

Thank you for giving me an opportunity to talk with you and Zimin.  It's my
great pleasure to meet  with you
and your group members.

I met Zimin last week. We had a wonderful talk.  After our meeting, I  handed
in him my current resume.
He may already forwarded my resume to you.  If not, I will be very happy to
send you a copy.

By talking with you, Zimin  and by attending your presentation yesterday at
UH,  I find I am really interesting the
fields that you are working on .  I am deeply impressed by the research works
your team have done and I am
looking forward  I am able to become one of your members.  I am also looking
forward  to be able to do researches
under your guidance.

I strongly  feel that your research department  provides the kind of jobs and
environments that I have been looking
for a long time.  My career objective matches your research fields and
directions.  I believe my training in  mathematics
and computer science will provide me some necessary backgrounds in energy
risk management  .  I am also sure that
by working with you,   I can greatly expand my IT skills and experiences.  I
also can learn tremendously from
 you and your research teams.

Currently after finishing my programing work as an IT spcialist,  I am
reading John Hull's book and try to catch up necessary
background in Finance and related fields.  I am also readingyour "Managing
Energy Price Risk" book.
Thank you for giving me a copy of this book.

Again, thank you  for giving me this opportunity and I am looking forward to
working in your team.

John Hou
713-853-1600


As noted on the email I sent to you on November 16 on the subject of PRC
Deadlines and Meetings, I wanted to remind you that your Goals for 2001
document is due to your manager by Monday, December 11.

The goals should be a mixture of short-term and long-term goals.  For
example, a short-term goal could be to learn more about the functionality of
Enpower, while a long-term goal could be to move to the European office to
manage logistics.  It is important for management to know employee goals so
that management can help the employee get to where they want to go.

If you have any questions, ask your manager or me.


greetings.  could you please call me at 415.782.7822.  thanks.
Jeff


I will be impressed if they can close by July 15, when they don't have their
financing lined up on May 18.  Oh well.

I'll send the assignment doc to JS via email.

Ben, I'll be down shortly.

Kay

	From:  Chris Booth                           05/18/2001 03:05 PM

To: Ben Jacoby/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc:

Subject: NorthWestern Update

I was a finally able to talk to Mike Young and e advised that they are
looking at several financing options and are still on track to close on or
before 15 July 2001.  He said that there were no issues that needed to be
addressed between ENA and NorthWestern at this time.


did you talk to the person looking for cotton?

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: FYI

you're lightening up.  good deal.


Please join us for an informal lunch on Friday, July 21st in the dining room
in EB50M.   Rick Causey, Enron's executive lead for the Analyst Program, and
David Haug, Enron's executive lead for the Associates Program, have been
invited to join us as well.  We are interested in renewing acquaintances with
those of you whom we met on campus and in getting to know those of you whom
we did not see in the interview process.  We hope that you are enjoying your
summer assignments at Enron and we look forward to the opportunity to visit
over lunch.

Please let me know by return e:mail if you will be able to attend the lunch.


---------------------- Forwarded by Phillip M Love/HOU/ECT on 12/01/2000
10:17 AM ---------------------------

From:  Bryan Hull
12/01/2000 10:10 AM

To: Lorraine Becker/HOU/ECT@ECT, Harry Bucalo/HOU/ECT@ECT, Beth
Cowan/NA/Enron@Enron, Jennifer McQuade/NA/Enron@Enron, Teresa
Mandola/Corp/Enron@Enron, George Hope/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT,
Michael Walters/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Timothy
Blanchard/HOU/EES@EES, Matthew Lenhart/HOU/ECT@ECT, Lisa
Gillette/HOU/ECT@ECT, Adriane Moratto/NA/Enron@Enron
cc:
Subject: Fw: Fw: Bon weekend!

MAKE SURE YOU TURN UP YOUR MUSIC..
>
>
 - DANCEOFF.exe


Kathy,  I noticed I neglected to included the BBB- rating for your guarantor
on the draft.  Let me know if you have nay other changes.

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490

----- Forwarded by Debra Perlingiere/HOU/ECT on 04/05/2001 02:57 PM -----

	Debra Perlingiere
	04/05/2001 01:40 PM

		 To: kdirks@utilicorp.com
		 cc:
		 Subject: Master

Hi Kathy,

Please look closely over this version and let me know if you see any problems.

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Kim,
Cammi Mursch has asked for an e-mail from Enron authorizing an extension.
Can we do this?

Thanks,
JMF

 -----Original Message-----
From: 	Melodick, Kim
Sent:	Monday, October 15, 2001 1:20 PM
To:	Forney, John M.
Subject:	RE: Moving Expenses

No appology needed my friend!

 -----Original Message-----
From: 	Forney, John M.
Sent:	Monday, October  15, 2001 12:23 PM
To:	Melodick, Kim
Subject:	RE: Moving Expenses

kim,
thanks so much for checking into this for me.   sorry for the delay in submitting.

JMF

 -----Original Message-----
From: 	Melodick, Kim
Sent:	Monday, October 15, 2001 12:09 PM
To:	Kallus, Deborah
Cc:	Forney, John M.
Subject:	RE: Moving Expenses

Please authorize an extension for Mr. Forney's relo expenses as per the note below.

 -----Original Message-----
From: 	Kallus, Deborah
Sent:	Monday, October  15, 2001 12:06 PM
To:	Melodick, Kim; 'Camill_Mursch@afcc.com'; 'Derek_Bird@afcc.com'; Whiteurst, Lloyd
Cc:	Forney, John M.
Subject:	RE: Moving Expenses

Kim and John,
The benefits can be extended if they are expired.  If they are expired, all we would need is an email from HR stating the approval to extend.  John, contact your consultant, Cami Mursch at (800) 241-6529 and she will assist you in getting the expenses processed.
Thanks,
Deborah 3-1426

 -----Original Message-----
From: 	Melodick, Kim
Sent:	Monday, October 15, 2001 11:13 AM
To:	Kallus, Deborah
Cc:	Forney, John M.
Subject:	FW: Moving Expenses

Debra, can you advise?

 -----Original Message-----
From: 	Forney, John M.
Sent:	Monday, October  15, 2001 11:05 AM
To:	Melodick, Kim
Subject:	Moving Expenses

Kim,
I had mentioned that I had not completed submitting my expense for temporary housing,  etc.    I mistakenly thought that the deadline was one year.
Can I still get this in?   I think I have everything in order.

Thanks,
JMF