Democrats Prepare to Duel Bush Over Energy Price Caps in West
The Wall Street Journal, 06/01/01

Electricity Trading Is Target of State Probe Regulation: A special Senate
panel is investigating alleged price manipulation of power transactions.
Los Angeles Times, 06/01/01

Companies Rush to Purchase Their Indian Units, Boosting Share Prices of
Concerns With Foreign Ties
The Wall Street Journal, 06/01/01

Exxon, Shell Poised to Win Saudi Deals --- They Appear Favored To Lead Key
Projects In Coveted Gas Sector
The Wall Street Journal, 06/01/01

NEW PACKAGE TO RESOLVE DPC, INDIA'S MSEB SITUATION: OFFICIAL
Asia Pulse, 06/01/01

GLOBAL INVESTING: Betting on better times for utilities
Financial Times; Jun 1, 2001

INTERNATIONAL ECONOMY, MIDDLE EAST & AFRICA: Hopefuls await details of Saudi
gas deal Financial Times; Jun 1, 2001

FITCH PLACES INDIA ON NEGATIVE RATING OUTLOOK ON FISCAL CONCERNS
Asia Pulse, 06/01/01

Thomas E. White becomes Secretary of the Army
M2 Presswire, 06/01/01

Some light at last!
The Economic Times, 06/01/01

Calif. investigations focus on whether out-of state wholesalers manipulated
energy prices
Associated Press Newswires, 06/01/01

California Lawmakers Eye Billing Businesses for Edison Rescue
Dow Jones Business News, 05/31/01

Construction of power plant in DeSoto County is underway
Associated Press Newswires, 05/31/01

Politics & Policy
Democrats Prepare to Duel Bush Over Energy Price Caps in West
By John Harwood and Jeanne Cummings
Staff Reporters of The Wall Street Journal

06/01/2001
The Wall Street Journal
A16
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- If you talk to economists, many will say President Bush is on
solid ground in opposing caps on soaring electricity prices in California and
elsewhere. But if you talk to voters, many will suggest he has political
problems.
And now that Democrats control the U.S. Senate, they are poised to make those
problems a lot worse.
Mr. Bush got a taste of what is coming in his widely touted showdown with
California Gov. Gray Davis in Los Angeles this week. The Republican president
repeated his familiar argument that capping wholesale electricity prices
would do nothing to curb demand or increase the supply of power for
California. But the Democrats' Mr. Davis, fortified by polls showing that 70%
of Californians favor price caps, managed to get equal billing during Mr.
Bush's visit for his argument that they are needed to keep the state from
slipping into recession and threatening the national economy in the process.
Because Sen. Jim Jeffords of Vermont left the Republican Party last week and
changed control of the Senate, Democrats now have a more effective national
platform to press the same arguments -- and to threaten Mr. Bush's political
standing beyond the already hostile turf of California. The incoming chairman
of the Senate Energy and Natural Resources Committee, Democratic Sen. Jeff
Bingaman of New Mexico, says he plans to move soon on legislation capping
prices for California and other Western states, a bill that has attracted
some GOP support as well.
"I think it's clear to anybody that the prices being charged for wholesale
power are excessive," said Sen. Bingaman, in an interview while he was
heading toward California on a fact-finding mission. "I don't believe it's
going to be adequate to get us through this summer, to just continue saying
that eventually supply will come into line with demand and the problems will
be resolved."
Meantime, the incoming chairman of the Permanent Subcommittee on
Investigations, Democratic Sen. Carl Levin of Michigan, plans to investigate
the role of oil companies in higher gas prices. "This is the manipulation of
prices, and we've got to investigate it because our people in Michigan are
absolutely furious," Sen. Levin says. Just as Republicans once used the
machinery of Congress to probe then-President Clinton's problems, Democrats
see ripe opportunities for embarrassing an ex-oilman president with strong
links to Texas energy-producing companies that are profiting from today's
supply squeeze.
During the 2000 presidential campaign, five of the major companies now
supplying power to California -- Duke Energy Corp., Dynegy Inc., Enron Corp.,
Reliant Energy Inc., and Williams Cos. -- gave some $3.6 million to Mr. Bush
and the GOP, more than triple the amount donated to Democrats. Three of those
companies are based in Mr. Bush's home state of Texas, which only adds to the
political tensions.
The Democratic offensive has the GOP worried. Price caps amount to "terrible
policy, but good politics," frets Republican pollster Neil Newhouse. Mr. Bush
now faces "a difficult job" overcoming the Democratic arguments for caps, he
adds, because "control of the Senate has given them a megaphone on issues
that they just didn't have before."
That doesn't necessarily mean Mr. Bush ultimately will suffer grave damage.
As congressional Republicans learned to their chagrin in battles with Mr.
Clinton, the presidential bully pulpit remains the most potent weapon in
American politics for framing policy debates. Even with that advantage,
though, the Clinton administration found that the initial appeal of arguments
on issues such as tobacco regulation and prescription drugs faded under
sustained counterattack by Republicans and affected industries.
And so far, polls are showing that Mr. Davis also is paying a political price
in California for the crisis. Still, Mr. Davis, who faces re-election next
year and may later seek the 2004 Democratic presidential nomination, believes
he can limit the damage by emphasizing his efforts to expand supply and
spotlighting the actions of energy companies in Texas and elsewhere. On CNN's
"Larry King Live" this week, he complained that "money sucked out of this
state" amounts to "a massive transfer of wealth" from Californians to the
industry.
Whatever the political ramifications, they aren't limited to California.
Consumers in Washington, Idaho and Montana that are serviced by the same
electric grid have seen 30% increases in their utility rates. That is why Mr.
Davis, with support from some GOP governors in the West, is asking the
Federal Energy Regulatory Commission to impose short-term wholesale price
caps to help protect electricity consumers from soaring rates until new power
plants approved for construction in California increase supply enough to
bring prices down through market forces. California Democratic Sen. Dianne
Feinstein and Oregon Republican Sen. Gordon Smith are offering legislation to
accomplish that in the committee that Mr. Bingaman now will chair.
As a matter of policy, most economists probably would agree with Mr. Bush's
free-market position on price caps, though that sentiment is hardly
unanimous. As he met with the president this week, Mr. Davis released a
letter from 10 prominent economists backing price caps as a temporary remedy
for a market "not characterized by effective competition." One of the
signatories was Alfred Kahn, architect of airline deregulation under
President Carter.
But Bush economic advisers, heeding the free-market arguments that have held
the high ground in regulatory policy debates since the Reagan era, insist
that such caps would distort the energy market and be difficult to abandon
even when market conditions turn more favorable for consumers. "Price caps do
nothing to reduce demand, and they do nothing to increase supply," Mr. Bush
said in California this week.
Mr. Davis says the Federal Energy Regulatory Commission is obliged under law
to assure "just and reasonable" prices, and he says he will sue the agency to
force it to act despite the dismissal earlier this week of a similar lawsuit
filed by California's Democratic legislative leaders. Whether the governor's
effort succeeds, it could provide another forum in which supporters of price
caps can make their case. In discovery, for instance, California attorneys
may be able to get industry data on how much the wholesalers are paying to
produce electricity and their real costs of delivering it.
Such transactions are drawing attention because of the significantly higher
prices being charged in California compared with other states. This week, for
instance, the price of a million British Thermal Units of natural gas in the
San Juan Basin in New Mexico was $2.80, said one economist for the Senate
Energy Committee. But when that gas arrived at the Southern California
border, she said, the price was $10.20 per million BTUs.
Mr. Bush himself voiced concern about such differentials in his meeting with
Mr. Davis, and ordered the FERC to step up monitoring for price gouging. He
has designated Pat Wood, a recent FERC appointee who headed the Texas Public
Utilities Commission during his governorship, as the administration's lead
liaison to California.
Mr. Wood, in fact, could end up an increasingly important player as the
crisis in California and other Western states plays out this summer. Mr.
Wood, who supported some price caps in Texas, is considered more flexible on
the issue than is FERC's current chairman, free-market champion Curtis
Hebert. During his confirmation hearings, Mr. Wood said it may be too late
for price caps because the commission would need months to study materials
and determine an appropriate market rate.
If the administration continues resisting caps, Democrats vow to score
political points heading into the 2002 congressional elections. "Bush is the
individual who ginned this up into a crisis" by frequently calling attention
to the nation's energy problems, says Jim Jordan, executive director of the
Democratic Senatorial Campaign Committee. "Yet the administration won't
consider any serious short-term action to alleviate the problem for the
public."
--- Energy Problems?

Public views of President Bush and energy problems, nationally and
among Californians:

Nationally
Q: In general, do you approve or disapprove of the way President Bush
is handling his job as president?

Approve 52%
Disapprove 38%

Q: Based on what you have read or heard, do you favor or oppose
President Bush's plan to deal with the country's current energy
problems?

Poor job 49%
Good job 38%

Q: How do you think President Bush is handling energy?

Oppose 42%
Favor 38%
Unsure 20%

In California
Is it a good or bad thing for the federal government to cap energy
prices?

GOOD THING BAD THING NO OPINION

All adults 70% 24% 6%
Registered voters 68 26 6
Democrats 79 17 4
Republicans 57 37 6
Other 63 29 8

Sources: National poll numbers from CNN/Time poll; California numbers
from the Field Poll

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

California; Metro Desk
Electricity Trading Is Target of State Probe Regulation: A special Senate
panel is investigating alleged price manipulation of power transactions.
RICH CONNELL; ROBERT J. LOPEZ
TIMES STAFF WRITERS

06/01/2001
Los Angeles Times
Home Edition
B-1
Copyright 2001 / The Times Mirror Company

California officials are probing a vast private network of electricity
trading floors suspected of being a central culprit in California's spiraling
energy prices.
A special state Senate panel investigating alleged manipulation of the energy
market is zeroing in on hundreds of thousands of secretive transactions each
year that help determine whether California will have the power it needs--and
what it will have to pay to get it. Those activities also are central to a
lawsuit by the San Francisco city attorney, who has accused power companies
of using unfair business practices to reap huge profits from the state's
volatile and vulnerable energy market.
A single electron may be traded nearly a dozen times, often at escalating
prices, before reaching California. By then, the actual cost of producing the
electricity may have no relation to its price.
Unlike other commodity and stock exchanges, the frenzied daily activity on
the energy trading floors escape any independent oversight, which critics
contend makes the operations ripe for collusion and price-fixing.
"They're playing the California power game," said attorney Michael Aguirre, a
former federal prosecutor now suing power companies on behalf of Lt. Gov.
Cruz Bustamante. "The trading is the epicenter of the whole enchilada. They
trade and inflate the value."
Power company representatives say their trading floors operate legally and
ethically. "I don't think there has ever been the slightest shred of evidence
[of] something illicit or wrongdoing," said Gary Ackerman of the Western
Power Trading Forum, an industry trade group.
Ackerman and players in the market say prices are not always ratcheted up
through the trading. Often, they say, traders can match supply and demand to
help stabilize prices through daily transactions and long-term contracts.
Still, Aguirre and others say, these sophisticated trading operations have
outmaneuvered bureaucrats at Cal-ISO and the state Department of Water
Resources, the agencies responsible for buying billions of dollars worth of
power over the past several months.
The sprawling trading floors, scattered across the country, are marvels of
high technology. Amid banks of computers and huge wall screens that track
weather, electricity prices and demand across vast regions, mathematicians,
meteorologists and rows of gung-ho traders try to optimize profits buying and
selling one of the world's most volatile commodities.
"These are trading floors that are well outside any regulatory format," state
Sen. Joseph Dunn (D-Santa Ana) said Thursday. "What impact do these trading
floors have on the situation in California?"
Plant Operations Also Scrutinized
Although trading floors are an important focus of state authorities, the
probes of the power companies include an array of issues. Investigators are
digging into the operations of power plants to determine whether unnecessary
shutdowns have been used to tighten supplies and hike prices. Dunn, a onetime
consumer attorney, is heading the Senate investigation panel that is trying
to unravel these issues and the role of the trading floors, operated by the
nation's largest power marketers: Enron, Mirant, Duke Energy, Dynegy Inc.,
Williams Cos. and Reliant.
The committee is seeking records that could determine whether the power
companies have swapped information on trading tactics to maximize prices.
Among dozens of categories of documents Dunn's committee has requested--and
may ultimately subpoena--are computer records from trading floors, recordings
of communications between traders for different companies and training
manuals for traders.
"We know one product of that trading is it drives up the price. . . . What
are you trading for, other than to drive up the price?" Dunn said in a recent
interview.
His committee, which has yet to uncover any wrongdoing, is battling with the
power companies to obtain information the firms insist is confidential.
San Francisco City Atty. Louise H. Renne also is focusing on trading-floor
activity.
"That is a central concern of ours," said Owen Clements, Renne's chief of
special litigation. Clements suspects power traders may be "churning"
megawatts through repeated sales and boosting prices.
"If everyone passes it around and makes a profit, and the ratepayer and the
state of California are stuck with the bill . . . that certainly looks like
an unfair business practice," he said.
A spokesman for Houston-based Enron, which operates one of the busiest
trading operations, said critics misunderstand the energy market, where
profits are not necessarily tied to high prices.
"We're agnostic about the direction of prices," Mark Palmer said. "We make
money one way or the other." He said the trick is in having a diversified
portfolio--and offering unique risk services--to absorb the changing market.
Palmer said those implying misconduct on the trading floors are "100%
politically motivated. . . . These are folks who want to return California to
[power] regulation."
Still, some industry officials acknowledge that some additional oversight of
trading floors may be needed. Ackerman, of the power trading association,
said his members have asked federal regulators to consider an auditing
program to review trading activities.
"If people don't have confidence in trading floors," Ackerman said, "that's a
problem."
*
Times staff writer Miguel Bustillo contributed to this story.

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

World Stock Markets
Companies Rush to Purchase Their Indian Units, Boosting Share Prices of
Concerns With Foreign Ties
By Jesse Pesta
Staff Reporter of The Wall Street Journal

06/01/2001
The Wall Street Journal
C11
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -- Foreign companies are on a shopping spree in India's stock
market, buying up their own affiliates and hoping to take them private.
In recent weeks, companies ranging from Otis Elevator Co. and Carrier Corp.,
both of Farmington, Conn., to Hoganas AB of Sweden, a player in the global
iron-powder business, have made open offers for the shares of their Indian
units, sometimes at prices that suggest they consider themselves a bargain.
Boston chemicals maker Cabot Corp. offered 100 rupees ($2.13) a share for
Cabot India Ltd. at a time when it was trading around 55 rupees.
Royal Philips Holland has offered to buy the 17% of light-bulb maker Punjab
Anand Lamp Industries it doesn't already own, according to Punjab. Otis and
Carrier, which are units of United Technologies Corp., Hartford, Conn., have
offered to buy all shares outstanding of their Indian affiliates, Otis
Elevator Co. (India) Ltd. and Carrier Aircon Ltd. The price for Carrier
shares was a nearly 100% premium to the stock's price prior to the offer.
The buybacks have triggered a surge in the stocks of other companies with a
foreign pedigree. Companies including Rayban Sun Optics India Ltd. (a unit of
Bausch & Lomb Inc., Rochester, N.Y.) and Philips India Ltd. (a unit of Royal
Philips Holland) have seen share prices rise as much as 40% or more since the
mid-May offers for Otis and Carrier, which were two of the early ones in the
current wave.
Both Rayban and Philips India deny open offers are planned. In any case,
Philips already boosted ownership in its Philips India unit to 83% from 51%
late last year.
In contrast to the surging shares of multinationals since mid-May, the Bombay
Sensitive Index has risen only 1.56%. It closed yesterday at 3631.91, down
30.13.
The trend has several drivers. For one thing, Indian stocks remain battered
after a rash of big market scandals earlier this year. Meantime, taking a
company private means it no longer is required to share as much information
about its business either with the market or a local partner. "In tough times
it will safeguard your interest," says Jignesh Shah, strategist at Ask-RJ
Investment Management in Bombay.
But most significantly, India has slowly made it easier in recent years for
foreigners to invest. Indeed, the buyback trend contrasts with the feud
between Dabhol Power Co. and its customer, the Maharashtra State Electricity
Board, over unpaid electricity bills. Dabhol, which is 65%-owned by Houston's
Enron Corp., is India's largest foreign investment and an emblem of the
difficulties foreign companies have encountered through the years. But the
buyback trend "works against the story of negative foreign-investment
environment" in India, one analyst notes.
As a rule, the companies play down the importance of stock price. Hoganas's
buyback for instance reflects the company's global strategy, but reflects as
well on a liberalizing India: Everywhere else in the world Hoganas owns 100%
of its subsidiaries, even Japan and China, says Virendra Sud, managing
director. But India didn't allow full foreign ownership 15 years ago, when
the company came here, he says, or else "we would have done it then." It's
purely coincidental that the buyback comes just as the stock market "has sort
of hit rock bottom," he says.
Otis attributes its buyback partly to India's growing appetite for more
sophisticated elevators, which means transferring advanced designs here.
Technology transfer heightens the need for closer cooperation with the
parent, says Managing Director Ashok Malhotra. But the company's reason for
going public in the first place sheds light on the regulatory cycle playing
out today in India. In the 1970s, India went through a phase of requiring
foreign companies to be part locally owned, so Otis made the public offer
that it is trying to undo today. "You have to work under the rules of the
time," Mr. Malhotra says.
---
Yesterday's Market Activity
Nasdaq's losses overnight pressured markets throughout Asia as Tokyo blue
chips tumbled 1.7% and South Korea's benchmark index fell 2.6%. European
markets rebounded somewhat from the previous day's declines, though volume
was thin. Overall, the Dow Jones World Stock Index rose 0.10%, or 0.20, to
195.33. Excluding the U.S., the index fell 0.68%, or 0.96, to 141.08.
In TOKYO, the Nikkei Stock Average was down 1.7%, or 231.21 points, to
13262.14. Nomura Securities downgraded its ratings on Fujitsu, Toshiba and
NEC, causing a broad slump in technology shares. Fujitsu ended down 2.8% at
1,543 yen, NEC slumped 3.9% to 1,947 yen, and Toshiba fell 3.6% to 675 yen.
In HONG KONG, the Hang Seng Index ended down 1.8%, or 245.72 points, at
13174.41. China Mobile fell 2.8% or 1.1 Hong Kong dollars to close at
HK$37.80. Property concern Cheung Kong dropped 3.4% to HK$85 and Sun Hung Kai
finished down 2.4% at HK$72.75.
In LONDON, the FTSE 100 Index slipped 0.01%, or 0.8 points, to 5796.10.
Services company Rentokil Initial surged 12.9% to 215 pence after it said
sales from continuing businesses were up 7.1% and operating profit was up 9%
year on year. It also said it has bought back 120 million of its own shares
since March. Invensys closed 6% higher at 142 pence after posting results in
line with expectations. Retailer Boots ended 3.5% higher at 597 pence after
posting earnings results in line with expectations.
In PARIS, the CAC 40 Index closed up 0.2%, or 9.92 points, to 5454.19.
Alcatel closed up 2.4% to 29.95 euros following the release Wednesday of
weaker-than-expected results and the demise of merger talks with Lucent
Technologies. J.P. Morgan cut its earnings-per-share forecast for the
communications-equipment supplier. Deutsche Bank also expressed negative
sentiment about the company, saying an industry turnaround is unlikely before
the fourth quarter of 2001. Car maker Renault closed down 1.1% to 55.15
euros. Lehman Brothers cut its 2001 earnings forecast, citing exposure to
falling demand in U.S. and Europe.
--- MSCI Indexes

% FROM
May 30 May 29 12-00

U.S. ........... 1183.7 1201.5 -5.3
Britain ........ 1723.9 1744.4 -6.4
Canada ......... 1030.8 1049.4 -10.9
Japan .......... 828.4 844.2 +2.5
France ......... 1763.4 1794.3 -7.3
Germany ........ 755.2 767.4 -7.7
Hong Kong ...... 6844.0 6920.0 -11.0
Switzerland .... 939.5 946.6 -7.6
Australia ...... 700.3 702.9 +9.4
World Index .... 1120.6 1136.4 -8.2
EAFE MSCI-p .... 1325.6 1342.7 -11.2

As calculated by Morgan Stanley Capital International Perspective,
Geneva. Each index, calculated in local currencies, is based on the
close of 1969 equaling 100.

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

International
Exxon, Shell Poised to Win Saudi Deals --- They Appear Favored To Lead Key
Projects In Coveted Gas Sector
By Bhushan Bahree
Staff Reporter of The Wall Street Journal

06/01/2001
The Wall Street Journal
A11
(Copyright (c) 2001, Dow Jones & Company, Inc.)

PARIS -- Exxon Mobil Corp. and the Royal Dutch/Shell Group appear poised to
win coveted leadership roles this weekend in a historic reopening of Saudi
Arabia's energy industry.
People familiar with developments said that barring last-minute upsets,
Exxon, the world's largest publicly owned oil company, will be named operator
of the largest opening being offered by the Saudis, the South Ghawar
natural-gas project that will require investment of $15 billion and is named
after the world's largest oil field, in the country's eastern province. But,
they cautioned, because Shell has been competing hotly for South Ghawar,
nothing can be taken for granted until the Saudis officially name the winners
and sign memorandums of understanding on Sunday.
As of late last night, Shell, the second largest company, was expected to win
the second prize: leadership of the Shaybah gas project, which requires
investment of $5 billion and is named after a recently developed oil field in
the kingdom's remote Empty Quarter, a southeastern desert region. Saudi
Arabia already has named Exxon leader of the third and last gas project
opened to foreign investment, the Red Sea project that requires investment of
as much as $5 billion.
Saudi Arabia's energy industry was nationalized in the 1970s, but over the
past two years has been reopened to foreign investment, prompting a fierce
contest among the world's largest oil companies. The people familiar with
developments cautioned that until the choices have been endorsed by an
11-member ministerial committee headed by Saudi foreign minister Prince Saud
al-Faisal, and given the final nod by Saudi Crown Prince Abdullah, they
couldn't be considered final.
The people said the ministerial committee met late yesterday ahead of a
formal signing ceremony planned for Sunday in Jeddah, the Saudi city on the
Red Sea coast. Such is the importance of getting into Saudi Arabia that the
chief executives of the eight companies chosen to participate in the gas
projects are flying to Jeddah to sign the memorandums, a prelude to
negotiations about fiscal and other terms. Final agreements aren't expected
until year's end at the earliest.
Officials of Exxon, Shell and the Saudi government declined to comment on the
choices made by the kingdom, which has the world's largest crude reserves and
is fifth in the natural-gas reserves after Russia, Iran, Qatar and the United
Arab Emirates. A leadership role -- or operatorship in industry parlance --
brings the opportunity to set the pace of the project and create local
networks that can prove valuable for future projects.
The kingdom still isn't allowing foreign companies into its crude-oil
business, which is run by the state-owned Saudi Aramco, but foreign oil
companies hope they eventually will be allowed into that sector, too. Indeed,
Aramco is expected to participate in the gas projects opened to foreigners,
with voting rights that have yet to be determined. The projects are
wide-ranging and encompass a long chain from exploration and production of
natural gas, to its transportation and use to generate electricity and in
water desalination plants.
Last month, Saudi Arabia named eight foreign companies, from a list of 11, to
take part in three consortiums for these projects. Besides Exxon and Shell,
they are BP PLC, TotalFinaElf SA, Conoco Inc., Phillips Petroleum Corp.,
Occidental Petroleum Corp. and Enron Corp. The three companies that sought
but failed to get a place are Chevron Corp., ENI SpA, and Marathon Oil Canada
Inc.
Industry officials say the competition was some of the fiercest ever. Said a
senior industry executive: "Everybody is looking 10 years down the road, and
the place to be is in Saudi Arabia."

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

NEW PACKAGE TO RESOLVE DPC, INDIA'S MSEB SITUATION: OFFICIAL

06/01/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, Jun 1 Asia Pulse - A new package 'acceptable to all' is being
evolved to resolve the seven-month old wrangle between Enron promoted Dabhol
Power Company and the Maharashtra State Electricity Board (MSEB) over the
issue of cost of power and payment of bills, A V Gokak, the federal
government's representative in Maharashtra's negotiation committee said
today.
"Things are moving in the right direction and government is serious to
resolve the crisis," Gokak told PTI after a meeting with the Finance
Minister, Yashwant Sinha, here.
Gokak said none of the parties to the dispute are in favour of closure of the
$3 billion project.
Earlier, the Indian government had asked Central Electricity Authority (CEA)
to explore possibility of selling the DPC power to deficient states. But the
Power Minister, Suresh Prabhu, had ruled out possibility of National Thermal
Power Corporation (NTPC) lifting DPC power.
Prabhu had stated that the government would make all efforts to settle the
matter in consultation with the stake holders.
Asked if any time frame has been set to break the impasse, Gokak said "delay
is in nobody's interest, but there are no readymade solutions."
The negotiating committee, headed by Madhav Godbole, has held two rounds of
negotiations with the last round held earlier this week being termed
"positive" by both DPC and the MSEB.
Gokak is believed to have put forward alternative solutions in resolving the
crisis.
(PTI) MYB 01-06 2030

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

		GLOBAL INVESTING: Betting on better times for utilities
Financial Times; Jun 1, 2001
By JOHN DIZARD

		The share price of one large electron-pushing company is up nearly 70 per
cent this year, but could be in line for another pop to the upside.
		That may sound like a report from Mary Meeker, the formerly omniscient
internet stock guru, or like your broker's stock-of-the-week pitch.
		Well, neither will be making such a claim at the moment - their legal
departments have them on too tight a leash. And the stock I have in mind is
not a technology stock in the sense of a silicon basher or programmer farm.
It is Edison International, the California electric power holding company,
whose Southern California Edison utility has been very publicly hovering at
the edge of bankruptcy for several months.
		The day after President George W. Bush made his "You're on your own,
California" speech, Edison's share price dropped more than 5 per cent. And
while the year-to-date rise, from Dollars 6.25 to Dollars 10.50 this week,
has been impressive, share-holders have seen a 46 per cent loss year on year.
		So why should anyone be optimistic about the chances for the common
shareholders in the holding company? Essentially because the state
legislators are being terrified into coming up with a bail-out plan - not
exactly the plan of Gray Davis, the governor of California, but one that will
preserve some value for the holding company shareholders and give them a more
predictable future.
		By now every one knows that the California utilities were squeezed by fixed
retail rates and rising wholesale costs. Edison has said it has Dollars 3.5bn
in "undercollected" wholesale power purchase costs. The state of California
(and its taxpayers) stepped in to buy power when the utilities ran out of
borrowing capacity in January. PG&E, the other big investor-owned utility,
filed for Chapter 11 protection back in April. Edison held off from filing,
preferring to try to get a state government bail-out.
		Much is missing from the standard account. For example, consumer groups
believe there is a lot of padding in the "undercollect", and that the holding
company should cough up billions in assets paid for with dividends supplied
by the SCE subsidiary. Many of the California public believe that the
merchant generators such as Duke Energy and Enron should pay back overcharges
rather than get any back bills paid.
		And yet the legislative tide is turning in Edison's favour. Within the next
couple of weeks, I expect the Democrats - who control both the state Assembly
and Senate - to come up with a bail-out plan for Edison that has a good
chance of passing both houses and being signed into law by the governor. The
reason is the the distinction they have begun to make between ratepayers and
taxpayers.
		To a legislator, tax payments, as distinct from utility rates, are things
that run through their hands and go to favoured programmes. Taking over the
payment of electric wholesale costs did not look too scary back in January,
when Governor Davis said it would go on for a few weeks and be easily covered
with the cash on hand. Well, the state has paid out nearly Dollars 8bn and
its cash reserves will be under increasing pressure until a Dollars
12bn-Dollars 13bn bond issue can be floated some time after August 15. A
decline in tax receipts is putting even greater stress on the state
government's resources.
		So the legislators want to get as far out of the power business as they can,
as fast as they can. That means saving Southern California Edison from
Chapter 11.
		The deal being negotiated within the Democratic leadership looks something
like this. The state will make a large loan, call it Dollars 1bn, against the
security of Edison's transmission system, to be repaid either through a sale
of the system to the state or a deduction from the allowed return on the
towers and wires. The holding company will pay out about Dollars 400m to prop
up the subsidiary. The rest of the undercollect will be paid for by a
"dedicated rate component", or charge to ratepayers - mostly commercial,
industrial and large users - that cannot be revoked by the Public Utility
Commission. The generators can get 70 cents on the dollar for their back
bills right away, or they can litigate forever.
		There are a few details that lawyers will quibble over, such as the
constitutionality of retroactively raising rates. And some may ask if it is
not cheaper just to let Edison go into Chapter 11, because even with the plan
it will not be able to take the state's place as a wholesale buyer at any
time soon. But I would bet on its passing anyway. And that would be good news
for Edison International shareholders, since they will have held on to most
of the holding company's assets, and still have an ongoing business in the
subsidiary.
		Don't bet the rent money on it, but it looks closer to me than a comeback in
spending on semiconductors. Maybe the children's college money - if you lose
it, they should work harder anyway.
		Copyright: The Financial Times Limited

		INTERNATIONAL ECONOMY, MIDDLE EAST & AFRICA: Hopefuls await details of Saudi
gas deal Financial Times; Jun 1, 2001
By ROBIN ALLEN and MATTHEW JONES

		ExxonMobil and Royal Dutch/Shell are the favourites to lead two of Saudi
Arabia's multi-billion dollar upstream gas projects to be opened to foreign
companies, according to industry observers in the Middle East.
		A committee of Saudi ministers responsible for the developments was due to
meet late last night. The companies are expected to learn the size of their
stakes either late today or early tomorrow, an official close to the projects
said.
		Saudi Arabia, which has excluded foreign companies in upstream operations
since 1975, last month announced the selection of eight oil groups to
participate in three gas projects requiring initial investment of around
Dollars 25bn.
		Exxon has already been appointed leader of Core Venture 2, on the Red Sea
coast, which also includes Occidental Petroleum and Enron Corp of the US. The
partners in Core Venture 3, the Shaybah development in the south-eastern
quarter of the kingdom, are Shell, TotalFinaElf of France and Conoco of the
US.
		Analysts and industry experts in Riyadh and Abu Dhabi said Exxon was expected
to be named leader of South Ghawar, also known as Core Venture 1, with a 35
per cent stake. BP and Shell would each be awarded 25 per cent shares while
Phillips would receive 15 per cent.
		Exxon was expected to be given a 70 per cent share of Core Venture 2, with
the remainder split equally between Occidental and Enron. Shell was tipped to
lead Core Venture 3 with 40 per cent of the project, while Total and Conoco
were expected to win 30 per cent each.
		One analyst said there was an outside chance that BP would be awarded
leadership of Core Venture 1 for political reasons.
		A BP official last night said the group had had no indication of the
decision, but added: "Even if we are not selected we will still have a very
significant part in a huge project. The important thing is to be there."
		Additional reporting by Robin Allen in Dubai
		Copyright: The Financial Times Limited

FITCH PLACES INDIA ON NEGATIVE RATING OUTLOOK ON FISCAL CONCERNS

06/01/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, June 1 Asia Pulse - International ratings agency Fitch has changed
the Rating Outlook on India's sovereign ratings from Stable to Negative,
citing well-flagged concerns about fiscal policy, privatization and the
deterioration in the foreign investment climate.
Fitch currently rates the foreign and local currency obligations of India at
BB+ and BBB- respectively.
The negative rating outlook reflects the slow progress of the government in
implementing privatization and addressing the weaknesses in public finances.
The fiscal-monetary policy mix in India remains unfavorable, resulting in
relatively high real interest rates and crowding out of private sector
investment.
Until the authorities display a concerted willingness to address fiscal
imbalances, India will remain locked in a stop-go cycle of growth and the
sovereign could slip into a debt trap, Fitch said in a press statement.
The recent corruption scandal, involving the ruling Bhartiya Janata Party
(BJP)-led coalition government, threatens to exacerbate these trends and slow
economic reform.
India's general government fiscal deficit at over 9 per cent of GDP is among
the highest in the realm of rated sovereigns.
Persistently high fiscal deficits have led to a build-up of the general
government's debt burden, estimated to be over 60 per cent of GDP.
In addition, the government has guarantees outstanding amounting to 9 per
cent of GDP.
Fitch reiterates the point that such guarantees, issued to back mainly
infrastructure projects, are contingent liabilities of the government.
This has most recently been borne out in the case of Enron, where the US
power company has invoked a central government guarantee for payment arrears
accumulated by the Maharashtra State Electricity Board.
ASIA PULSE 01-06 1609

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

Thomas E. White becomes Secretary of the Army

06/01/2001
M2 Presswire
Copyright 2001 M2 Communications, Ltd. All Rights Reserved.

Thomas E. White became the 18th secretary of the Army today after being
nominated by President George W. Bush on May 1, 2001, and confirmed by the
Senate on May 24.
White expressed his gratitude to the president and the secretary of Defense
for their confidence and trust in him. During his confirmation hearing before
the Senate Armed Services Committee on May 10, White identified four
objectives he will pursue as secretary of the Army in support of the
president and the secretary of Defense: to invest in people, to assure
readiness, to transform the entire Army and to adopt sound business practices.
The secretary of the Army is the U.S. Army's senior civilian, responsible by
statute for all matters relating to Army manpower, personnel, reserve
affairs, installations, environmental issues, weapons systems and equipment
acquisition, communications and financial management. The secretary leads a
work force of some one million active duty, National Guard and Army Reserve
soldiers and 225,000 civilian employees. The department has an annual budget
of approximately 70 billion dollars.
Before his appointment as secretary of the Army, White was the vice chairman
of Enron Energy Services, the Enron corporation subsidiary responsible for
providing energy outsource solutions to commercial and industrial customers
throughout the United States.
White began his service to the nation in 1967, after graduating from the U.S.
Military Academy at West Point. His distinguished career as a commissioned
Army officer included two tours in Vietnam and service as commander, 1st
Squadron, 11th Armored Cavalry Regiment; commander, 11th Armored Cavalry
Regiment, V Corps; and executive assistant to the chairman, Joint Chiefs of
Staff. He retired from the Army in 1990 with the rank of brigadier general.
For additional information, see the Army web site at
http://www.dtic.mil/armylink or contact Army Public Affairs at (703)
697-7550.
((M2 Communications Ltd disclaims all liability for information provided
within M2 PressWIRE. Data prepared by named party/parties. Further
information on M2 PressWIRE can be obtained at http://www.presswire.net on
the world wide web. Inquiries to info@m2.com)).

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

Some light at last!

06/01/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

NEW Delhis intervention in the tussle between Enron and the Maharashtra
government is a welcome development. The government wants the Central
Electricity Authority to find out whether electricity generated by Dabhol
Power Company can be sold to states which need power badly if it cant be used
by Maharashtra.
This is a good idea India is seriously short of reliable, quality electricity
supply. Maharashtra claims that it doesnt need even the 740 MW now generated
by DPC at going rates. This creates further trouble: the lower Maharashtras
offtake, the higher the unit price of DPC power. Once other power hungry
states start buying up electricity from DPC, the price per kilowatt hour will
fall sharply.
The first step to getting DPC out of the hole that Enron, Maharashtra and
successive Indian governments have dug it into, is to allow the utility to
sell power to anyone who wants to purchase it at going rates. However, asking
central utilities like the fledgling Power Trading Corporation to evacuate
DPC power for sale outside Maharashtra wont solve the hassles of the sector
for all time.
The government should modify electricity laws to allow generating companies
to sell electricity to all users immediately. An ordinance passed by New
Delhi will do the trick power is a concurrent subject, with central
legislation overriding states.
But even if that happens, it is doubtful if there will be too many buyers for
Dabhol power at its present price about Rs 4 per unit with the plant running
at high capacities. If the price is to be brought down further, the deal with
MSEB will have to be renegotiated.
The Godbole Committee says that some financial restructuring, de-dollarising
of debt and equity, and so on can bring prices down by about 30 per cent from
DPCs minimum Rs 4 per unit rate today.
Otherwise, as the GC points out, it will be impossible for the project to be
viable at current tariffs. India desperately needs electricity to grow. For
the power sector to grow, reforms are necessary at every level
renegotiations, yes, but also changes in laws and the rules of the game.

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

Calif. investigations focus on whether out-of state wholesalers manipulated
energy prices
By MICHAEL LIEDTKE
AP Business Writer

05/31/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SAN FRANCISCO (AP) - State energy regulators say they are close to finishing
probes into whether electricity wholesalers illegally aggravated the state's
power squeeze.
In one year, California's power crisis has raised customer rates by $5.7
billion and dumped a $13 billion bailout bill on taxpayers. State officials
hope to recover the money if they find evidence that out-of-state wholesalers
manipulated the market to illegally driving up prices.
The wholesalers say they are being turned into scapegoats for a 1996
deregulation law sculpted by California lawmakers and the state's two largest
utilities, Pacific Gas and Electric and Southern California Edison.
The utilities have reported a combined $8.2 billion in losses since June
2000.
Two legislative committees are investigating allegations that wholesalers
created artificial supply shortages that drove wholesale electricity prices
as high as $1,900 per megawatt hour. Before June 2000, wholesale prices for
energy sold under similar terms rarely climbed above $150 per megawatt hour.
At least five lawsuits, including one filed by San Francisco City Attorney
Louise Renne, seek damages from wholesalers on behalf of all Californians.
"I don't think these are going to be very hard cases to make," said Owen
Clements, chief special litigator for San Francisco. "Even if they didn't
break the letter of the law, they clearly have violated the spirit of the
law."
Attorney General Bill Lockyer is offering multimillion-dollar rewards to
power plant workers and energy traders who provide the state with inside
information about wholesaler's decisions.
"Everyone feels like they're being ripped off. There's a lot of emotional
belief that unfair things have been done, but we're still working through the
case," said Lockyer, a Democrat who voted for the deregulation law when he
served in the state Senate.
The state utilities commission is inspecting power plant documents that may
show whether some facilities shut down unnecessarily to diminish supply. The
commission and Lockyer are investigating whether the plants then increased
production to reap big profits.
Power wholesalers maintain that the plants, many of which are 30 to 40 years
old, shut down for legitimate equipment repairs and maintenance.
"No one in our industry cuts back on production so a competitor can make more
money. It just doesn't happen, at least not on planet Earth," said Gary
Ackerman, executive director of the Western Power Trading Forum, a trade
group.
The Federal Energy Regulatory Commission earlier this year alleged that
Tulsa, Okla.-based Williams profited from the closure of two Southern
California power plants owned by a business partner, Arlington, Va.-based AES
Corp.
Without admitting wrongdoing, Williams refunded $8 million to settle the
charges.
California's investigations are examining the conduct of Williams, as well as
several other prominent power wholesalers, including Houston-based Enron
Corp., Dynegy Inc., and Reliant Energy, Charlotte, N.C.-based Duke Energy and
Atlanta-based Mirant Corp.
Cohen said the utilities commission could file a civil lawsuit against the
wholesalers by the end of June. Lockyer expects to wrap up an investigation
in late July at the earliest.
---
On The Net:
California Public Utilities Commission: http://www.cpuc.ca.gov
California Attorney General: http://www.caag.state.ca.us
http://www.enron.com
http://www.reliant.com
http://www.dynegy.com
http://www.duke-energy.com
http://www.williams.com
http://www.mirant.com

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

California Lawmakers Eye Billing Businesses for Edison Rescue
By Jason Leopold

05/31/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Dow Jones Newswires
LOS ANGELES -- California lawmakers are mulling yet another set of ideas for
rescuing embattled Southern California Edison, and this time businesses would
be on the hook.
In an attempt to deflect charges of a bailout that have thus far stymied
efforts to restore the utility to solvency, legislators are now considering
ways to shift the burden of financing the rescue from residential ratepayers
to the state's largest businesses, aides to key state lawmakers said this
week.
The ideas being worked over by Senate President Pro Tem John Burton, Assembly
Speaker Robert Hertzberg and Assemblyman Fred Keeley have yet to take shape
as formal proposals. But an aide to Burton said some key lawmakers are so
"desperate" to keep Edison International (EIX) utility Southern California
Edison from following PG&E Corp. (PCG) unit Pacific Gas & Electric into
bankruptcy court that they are willing to consider anything that will takse
residential consumers out of the equation.
"The idea is that the large industrial customers are the ones who pushed for
deregulation in the first place, so they should be responsible for bailing
out Edison," the aide said. "We're looking to take the burden off of
residential ratepayers."
The premise of a plan discussed by lawmakers on a conference call Thursday is
to designate Southern California Edison's largest commercial ratepayers as
non-core customers. Those customers -- some 3,600 users of more than 500
kilowatt-hours a month -- would be responsible for financing the cost of
power the utility must purchase or have purchased for it in the wholesale
market. The non-core customers would also help the utility recoup most of its
$5.5 billion in unrecovered power costs through a surcharge on their bills.
Core residential customers would be protected from the wholesale power market
as the primary beneficiaries of the low-cost power the utilities generate
themselves or have locked up in long-term contracts.
Enron Pushing Access to Customers
Separately, Enron Corp. (ENE) has been lobbying lawmakers for several weeks
to win approval to sign power-supply contracts with Southern California
Edison's largest commercial customers, leaving the utility to serve just its
residential customers and small businesses, aides to Gov. Gray Davis, Messrs.
Burton and Hertzberg said.
An Enron executive confirmed that the company sent a four-page proposal to
Mr. Hertzberg proposing that Southern California Edison's large industrial
customers sign so-called direct-access contracts with Enron. Enron also has
recently made a presentation about direct access to some members of the
California Chamber of Commerce.
Under the proposal, heavy users would be required to contract directly with
companies like Enron for their power.
Direct access was a key part of the state's 1996 deregulation plan, but was
scrapped early this year when the state started buying wholesale power in
place of the utilities.
The core/non-core proposal is one of several being discussed by lawmakers as
alternatives to a memorandum of understanding Mr. Davis struck with Edison in
April. The MOU -- which doesn't vary much from an agreement in principle
reached in February -- has been called dead on arrival by some lawmakers, who
have been mulling various alternatives rather than moving the agreement
forward.
State Sen. Debra Bowen, a Redondo Beach Democrat and chairwoman of the Senate
energy committee, said there are so many "Plan B's" floating around the
Legislature that, "We're going to need to hire an apiculturist."
Steve Maviglio, a spokesman for the governor, said the Davis administration
is still dedicated to seeing legislation to enact the memorandum of
understanding move through the Legislature, but said separating the utility's
"core and non-core" customers would be at the forefront of new discussions.
It was too early to say whether the governor would support the plan, he said.
Dominic DiMare, a lobbyist with the California Chamber of Commerce, said the
chamber has told the Davis administration that shifting the burden of the
Southern California Edison bailout to businesses is "a very bad idea" that
could cost the state billions of dollars in economic activity.
"This [plan] would really screw businesses," Mr. DiMare said. "We just got
hit with a 50 to 90% rate increase. We're dangerously close to losing our
businesses to other states."
Write to Jason Leopold at jason.leopold@dowjones.com
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved

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

Construction of power plant in DeSoto County is underway
By TIMOTHY R. BROWN
Associated Press Writer

05/31/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

JACKSON, Miss. (AP) - A North Carolina-based independent electric power plant
developer and operator has started construction on a $490 million generating
facility in DeSoto County.
Cogentrix Energy Inc. will build the 800-megawatt power plant in Southaven on
40 acres next to existing TVA and Entergy electric substation facilities. The
plant is the largest economic development project in the history of the north
Mississippi county.
The second largest project is a $150 million power plant currently being
built by Duke Energy.
Both are expected to be operational in 2003.
The National Energy Production Corporation, a subsidiary of the Enron Corp.,
is serving as the engineering and construction contractor for the Congentrix
project.
"It is in construction as we speak," Jeff Freeman, Congentrix vice president
for corporate communications, said Thursday. "NEPCO is mobilized on site and
they are doing earth work. It will probably take them 24 to 27 months to get
the plant in commercial operation."
Freeman said the Charlotte, N.C., company found several reasons why building
a plant in Southaven, a fast-growing city located just south of Memphis,
Tenn., was a good investment.
"The first thing that we look for in any project is a basic need for the
commodity that we produce, which is electricity," Freeman said. "The area
served by the transmission systems, TVA and Entergy, at this location provide
access to areas that need electricity."
The plant will use natural gas as fuel and will include the latest in
environmental and combustion control technologies, Freeman said.
Cogentrix owns all or part of 27 facilities with a capacity to generate about
7,000 megawatts in 14 states.
Southaven Mayor Greg Davis said both plants will generate about $300,000 to
the city, in lieu of taxes, and about $1 million each to the county school
system.
Davis said the plants will not employ many workers so traffic in the area
will not increase. He also pointed to the positive impact of temporary jobs
during construction.
"Then, road and bridge tax that they will be paying is substantial also,"
Davis said. "So from a financial impact we will see a great return in the
investment."
---
On the Net:
Congentrix: http://www.congentrix.com
Duke Energy: http://www.duke-energy.com

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


FYI- This is an email from ERCOT with all of our ESI IDs that are pending meter reads or have been cancelled already.  I just wanted to make sure that we have sent out a letter to our customers letting them now they are being switched to the POLR.

 -----Original Message-----
From: 	"Richter, Tracy" <trichter@ercot.com>@ENRON
Sent:	Wednesday, December 05, 2001 3:44 PM
To:	Parsons, Mark; Hafner, Allyson; dharris1@txu.com; Wagner, Joseph
Cc:	Bergman, Karen; Mingo, Sonja; Brinegar, Craig; Kassel, John; Adams, Jack; McCarty, Mike; Richter, Tracy
Subject:	Enron Energy Services drop to POLR (TXU TDSP)

Attached is a spreadsheet showing the 12 Enron Energy Services ESI-ID's.  Two of them have been cancelled.  There are 10 which we have received  the 814_10 and are In Review status.
 - Enron status 12-5-01.xls


My mistake!  I sent out the wrong talking points file.  Sorry for the error.


Thanks to those of you who have already repsonded.  The last opportunity to
enjoy lunch with the A&A brown bag sessions is here.  Please consider this a
reminder of the program tomorrow:
12:00 to 1:00 Room EB30C1
Berney Aucoin, Director of Commodity Structuring

Berney will be accompanied by an analyst who can give a unique first hand
account of a structuring rotation.

Please RSVP if you're planning to attend.

Thanks,

Tom Wilbeck
57536


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/20/2000
05:29 PM ---------------------------

"NW Whitepapers Download" <Whitepapers@bdcimail.com> on 04/20/2000 04:20:48 PM
Please respond to "Whitepapers Download Help" <NWReplies@bellevue.com>
To: <vkamins@enron.com>
cc:
Subject: Whitepaper Download

NETWORK WORLD FUSION FOCUS: Whitepaper Download newsletter
04/20/00

Dear Wincenty Kaminski,

Go behind the headlines with Network World
editors at a FREE webcast!

Join John Gallant, Doug Barney, Paul McNamera, and Mark Gibbs, as they
dig deep behind the headlines to examine "real" network challenges.
FREE, interactive webcast premieres May 5 at 1:00 p.m. ET. Register now
at:
http://www.itworld.com/itwebcast/nw

Today's Focus: Whitepaper Download
---------------------------------------------------------------
By Keith Shaw

We,re back again with more white papers to whet your appetite! Our
continuing mission is to provide you with the latest technology and
product information, right from the vendors themselves, as well as a
quick summary and link to the white paper itself.

This week we,ve got white papers on Windows 2000 migration, IP version
6 and SNMP version 3, Layer 4 switching and Web switching, and how to
integrate security for your e-business. Enjoy!

InstallShield Software Corp.
NetInstall and Microsoft Windows 2000

Windows 2000 offers built-in client management capabilities,
collectively known as the &IntelliMirror8 technologies. But if you,re
going to realize the complete benefits of these technologies, you need
a complete implementation of Win 2000 across your enterprise. If you,re
going to have a mixed mode environment (Windows 2000 and Windows NT 4
servers or others) on the server or in a client-setting (Windows
95/98/NT clients), you may need NetInstall software products.

This paper looks at the Windows 2000 software installation process, as
well as the evolutionary path for enterprises going from non-Windows
2000-based to a mixed environment or a pure Windows 2000 environment.
http://www.nwfusion.com/go/wp042000_install.html

ArrowPoint Communications
Testing Stateful Networking Devices for Web Applications

A new generation of networking products has emerged for the specialized
task of server load balancing or Web traffic management. Examples of
these devices are known as Layer 4 switches and Web switches.
This paper looks at the differences between LAN switching, Layer 4
Switching and Web switching, as well as do,s and don,ts when testing
Web switches.
http://www.nwfusion.com/go/wp042000_arrow.html

DigiNet Corp. (produced in association with Network World Technical
Seminars)
Dealing with the Growth of the Internet

For most network managers, the explosive growth of the Internet isn,t
breaking news; they,ve lived with these issues on a daily basis. The
question now is how to manage it and plan for future growth.

This paper provides some insight into two significant architectural
enhancements to Internet technologies that promise to greatly enhance
the way we administer and manage internetworks and intranetworks in the
future  IP version 6 and SNMP version 3.
http://www.nwfusion.com/go/wp042000_tcp.html

CheckPoint Software / OPSEC Alliance
Integrated Security Now: Solutions for Securing E-business

The challenges of e-business, an increasingly mobile workforce, and the
trend toward greater collaboration between corporate partners have
created new requirements for security.

This white paper looks at several solutions provided by Check Point
Software and the Open Platform for Security (OPSEC) Alliance, covering
topics ranging from content security, high availability, reporting and
analysis, public key infrastructure (PKI), deployment servers, network
appliances and managed services. Members of the Alliance present their
offerings to help you secure your network.
http://www.nwfusion.com/go/wp042000_checkpoint.html

Looking for more white papers? Visit our Vendor White Paper area of
Network World Fusion:
http://www2.nwfusion.com/cgi-bin/gate2?nwfusion|wp/bydate.html

The white papers in this newsletter are provided by vendors who sponsor
their white papers on the Network World Fusion Web site. If your company
would like to sponsor its white papers on Fusion and in this newsletter,
call Sales Manager Jamie Kalbach at 610-971-1588.
??Subscription Services??To subscribe or unsubscribe to any Network World e-mail newsletter, go?to?http://www.nwwsubscribe.com/news/scripts/notprinteditnews.asp??To change your e-mail address, go to:?http://www.nwwsubscribe.com/news/scripts/changeemail.asp??Subscription questions? Contact Customer Service by replying to this?message.??Other questions/comments??Have editorial comments? Write Keith Shaw at kshaw@nww.com??Network World Fusion is part of IDG.net, the IDG Online Network.?IT All Starts Here:?http://www.idg.com??Copyright Network World, Inc., 2000?


Faith,

Attached is information regarding the Texas Desk as it relates to the current
Texas market, EOL performance metrics, and Post HPL Action Plan.

Please do not hesitate to call with questions.

Thanks,

Eric
x3-0977


Hello David.

 I just received a call from ENA legal (EOL) requesting a copy of the
executed Duke Energy Trading & Marketing Pty Limited ISDA with the executed
guarantee attached.  I told them that you had sent me a copy, but it did not
include the guarantee.  From a Credit perspective, I have approved this cp to
trade on-line effective immediately.  However, when you have a chance, please
send a copy of the contract to Tana Jones in ENA Legal.

Also, the same people are looking for a copy of the Citipower Pty ISDA.  I
was not sure that this contract had been executed.  When this contract is
executed, please copy ENA Legal (Tana I suppose) with the guarantee
attached.  Again, from a Credit perspective, Citipower is approved to trade
on-line effective immediately.

Thanks, David.

Rod


Everyone,

In an effort to protect our computing systems from viruses and other potential threats, we have disabled the ability to get to external e-mail sites (AOL, Yahoo, Hotmail, etc.) while you are using an Enron computer connected to our network.

If you are using a particular external e-mail site for valid business reasons and this action we have taken has impacted your business, you can contact your Resolution Center for assistance.  Each case will be analyzed for validity and exceptions granted based on business related needs.

Thank you for your understanding that protecting our revenue generating systems is our highest priority.

Enron Global Technology


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/22/2000
04:07 PM ---------------------------

Kate Lucas
12/22/2000 02:56 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Vasant Shanbhogue/HOU/ECT@ECT, Nelson Neale/NA/Enron@Enron, Mauricio
Mora/NA/Enron@Enron
Subject: CORRECTION: interim report to Gary Hickerson for ag trading

Apologies. Please note that I pasted the wrong graph in the previous version
I sent. This is the correct version.

Thanks,
Kate
---------------------- Forwarded by Kate Lucas/HOU/ECT on 12/22/2000 02:56 PM
---------------------------

Kate Lucas
12/22/2000 02:27 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Vasant Shanbhogue/HOU/ECT@ECT, Nelson Neale/NA/Enron@Enron, Mauricio
Mora/NA/Enron@Enron
Subject: interim report to Gary Hickerson for ag trading

Vince,

Please find attached the interim report on agricultural commodity trading for
Gary Hickerson. Your comments are welcome as we would like to send this to
Gary as soon as possible.

Regards,
Kate
ext 3-9401


brutal!

Susan M Scott
03/09/2000 01:56 PM
To: val.generes@ac.com, Timothy Blanchard/HOU/EES@EES, Eric Bass/HOU/ECT@ECT,
Nick Hiemstra/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Ilan
Caplan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthew Lenhart/HOU/ECT@ECT,
Christopher Coffman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Misti
Day/HOU/ECT@ECT, Benjamin Markey/HOU/ECT@ECT, Carrie Southard/HOU/ECT@ECT,
Christa Winfrey/HOU/ECT@ECT, Brian Hoskins/HOU/ECT@ECT, Robert
Norton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bryan Hull/HOU/ECT@ECT, Stephen
Plauche/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan Feather/HOU/EES@EES, Heather
Alon/HOU/ECT@ECT, Sheetal Patel/HOU/ECT@ECT, Hang Bui/HOU/ECT@ECT, Kreg
Hall/HOU/ECT@ECT, Michael Kolman/HOU/ECT@ECT, Mason Hamlin/HOU/ECT@ECT,
Jennifer Reside/HOU/ECT@ECT, Tobin Carlson/HOU/ECT@ECT, Alicia
Perkins/HOU/ECT@ECT, Nicholas J Stephan/HOU/ECT@ECT, Benjamin
Freeman/Corp/Enron@ENRON, Lisa Gillette/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT,
Victor Guggenheim/HOU/ECT@ECT, Daniel Falcone/Corp/Enron@ENRON, Shanna
Husser/Corp/Enron@Enron, Yvette Parker/Corp/Enron@ENRON
cc:
Subject: Our country's 28th President

For those of you who aren't history buffs, the individual in question would
be Woodrow Wilson.  Now, if you all are the reasonably intelligent
individuals I believe you to be you will have already guessed where I'm going
with this...  Anyway, given the impending heat wave that will soon be
striking our fair city, it is my recommendation that we take this opportunity
to enjoy one more pleasant evening on Woody's deck.  Same Bat time, same Bat
channel (9:30-10:00).


Thanks So much for the info , Have a great weekend and good luck with you new job.

Dutch

-----Original Message-----
From: "Tori Kuykendall" <tori.Kuykendall@rweamericas.com>@ENRON [mailto:"Tori Kuykendall" <tori.Kuykendall@rweamericas.com>@ENRON]
Sent: Fri 1/18/2002 1:24 PM
To: Quigley, Dutch
Cc:
Subject: RE:

okay - here's what i know -- we are trying to hire some of the best

people out there at whatever they may do -- one position that we are

looking at is kinda what you are already doing -- our nymex trader is

bob shiring -- take that however you wish -- but that's who you  would

be working directly with so that's who you would need to talk to.  i

know this position is in the budget for this year but i'm not sure what

the time frame is.  bob's email is bob.shiring@rweamericas.com -- you

can tell him that you got his name from me and then i'm sure he'll

approach me about it -- that is, of course, if you are interested and to

the extent that you do not have any contractual issues in talking to us.

-----Original Message-----

From: Dutch.Quigley@enron.com [<mailto:Dutch.Quigley@enron.com>]

Sent: Friday, January 18, 2002 10:00 AM

To: Tori Kuykendall

Subject: RE:

Hey Tori,

First of all Congrats on the new job.

Thanks for telling Susan and thinking about me.

So tell me a little about what the opportunity is all about.

If there another person that I should talk to just email me

the Name and number and I can talk to them.

Dutch

713-853-9216

**********************************************************************

This e-mail is the property of Enron Corp. and/or its relevant affiliate

and may contain confidential and privileged material for the sole use of

the intended recipient (s). Any review, use, distribution or disclosure

by others is strictly prohibited. If you are not the intended recipient

(or authorized to receive for the recipient), please contact the sender

or reply to Enron Corp. at enron.messaging.administration@enron.com and

delete all copies of the message. This e-mail (and any attachments

hereto) are not intended to be an offer (or an acceptance) and do not

create or evidence a binding and enforceable contract between Enron

Corp. (or any of its affiliates) and the intended recipient or any other

party, and may not be relied on by anyone as the basis of a contract by

estoppel or otherwise. Thank you.

**********************************************************************


Located at:

M:\Electric\Miller\P&L\Historical Analysis - Nepool.xls

You may need some "add-ins" to use this model, as it queries the database.

Good Luck,

Jeff


i don't listen to nsync.  i like color me bad more.  they are more my speed.
they have a more mature sound.  you don't know what a boondoggle is?  a
boondoggle is where another company takes you on trip to discuss business
over golf and booze.  they pay for it all and it is usually fairly
extravagant.  they make this job worth it.  i am having a shitty day.  i am
losing a shit load of money.  do you go out every night or something?  you
are living the wild life.  what are you taking the gre for?  what the fuck is
the gre for anyway?  is that the grad school test?  what is your major?  i
can't remember what you told me.  speech something?  where are you going to
grad school? lsu?  talk to you later.


Enclosed is the Stratus Ca that we discussed earlier.  Here are the main
differences between our agreement and theirs:

1. Our term is 1 year.
2. Our agreement resolves disputes by arbitration, although it allows them to
go to a court to obtain injunctive relief.
3. Our agreement has a much narrower definition of Confidential Information
4. Our agreement has no "use" restriction
5. Our agreement has different procedures for returning/destroying
confidential information.

I will have hand delivered to Lucy the CA on ENA letterhead with my initials.
Carol


I have a full set of the briefs filed in the DC Circuit regarding the FERC
notice issue raised by PCA.  I assume Enron's regulatory counsel, LeBoeuf,
Lamb, has provided you with a set. If, however, you'd like me to send a
complete set over, just let me know.  Thanks.

**********NOTE**********
The information contained in this email message is intended only
for use of the individual or entity named above.  If the reader
of this message is not the intended recipient, or the employee or
agent responsible to deliver it to the intended recipient, you
are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited.  If you
have received this communication in error, please immediately
notify us by telephone (713-546-5000), and destroy the original
message. Thank you.


Legal Issue & List - nothing yet. I have a meeting scheduled for tomorrow
with Don Hollingsworth's point man (Dennis Thompson) and will acquire these
two items ASAP.

Exec Recruiter -
Ted Bland has found three Executive Recruiting firms willing to assist us in
our search:
 Kenneth Kern & Associates - Ken Kern
 Korn Ferry International - Bruce Peterson & Bob Loftland
 David Preng & Associates - David Preng
I forwarded to him a copy of the City's Advertisement with all specifics,
including qualifications and salary offered, and a list of 35 potential
candidates which I have compiled based on my research. I have also made him
aware that the city absolutely will NOT offer a contract.

Lisa


-----Original Message-----
From: 	Hill, Garrick
Sent:	Wednesday, June 12, 2002 12:53 PM
To:	Barbe, Robin
Cc:	Bills, Lisa; McMichael Jr., Ed
Subject:	RE: ponderosa plant service events for gas days june 4, 5, 6

Let's plan to meet in ECN 2868 at 10 am tomorrow.  Please pass the location along to anyone else from your group that is attending.

 -----Original Message-----
From: 	Barbe, Robin
Sent:	Friday, June 07, 2002 11:48 AM
To:	McMichael Jr., Ed; Schneider, Chip; Sharp, Greg; McConnell, Mike
Cc:	Germany, Chris; Miller, Don (Asset Mktg); Darmitzel, Paul; Hill, Garrick; Mazowita, Mike
Subject:	RE: ponderosa plant service events for gas days june 4, 5, 6

Ed,

Rick is out of the office until the 13th.  I am meeting with him at 10:00 on the 13th.  I had a conversation with Mike Mazowita at White Pines Energy.  Mike
is the liason between the plant and ENA.  He informed me that Ponderosa Pines Energy Partners (the plant) and ENA have a management agreement.
He said that ENA gets reimbursed based on time spent on behalf of the plant.  Apparently the agreement was never executed but the two companies
transacted as if it was executed.  I am out this afternoon and Paul Darmitzel is out this afternoon.  I am going to get Paul involved on Monday to see if the estate can be reimbursed for hours ENA employee spend on behalf of the plant.

Robin

 -----Original Message-----
From: 	McMichael Jr., Ed
Sent:	Thursday, June 06, 2002 6:45 PM
To:	Schneider, Chip; Sharp, Greg; McConnell, Mike
Cc:	Barbe, Robin; Germany, Chris; Miller, Don (Asset Mktg); Darmitzel, Paul; Hill, Garrick
Subject:	RE: ponderosa plant service events for gas days june 4, 5, 6

Yes it is, and we will try Rick.  However, I assumed this was part of Op-Co or an ENA asset in your world.  I think Rick is doing power terminated book recovery.

 -----Original Message-----
From: 	Schneider, Chip
Sent:	Thursday, June 06, 2002 6:21 PM
To:	McMichael Jr., Ed; Sharp, Greg; McConnell, Mike
Cc:	Barbe, Robin; Germany, Chris; Miller, Don (Asset Mktg); Darmitzel, Paul; Hill, Garrick
Subject:	RE: ponderosa plant service events for gas days june 4, 5, 6

I know nothing about any Enron relationship with Lonestar.  Is this possibly related to the Cornhusker plant in Cleburne?  If so, Rick Hill is the contact.

 -----Original Message-----
From: 	McMichael Jr., Ed
Sent:	Thursday, June 06, 2002 9:03 AM
To:	Schneider, Chip; Sharp, Greg; McConnell, Mike
Cc:	Barbe, Robin; Germany, Chris; Miller, Don (Asset Mktg); Darmitzel, Paul
Subject:	FW: ponderosa plant service events for gas days june 4, 5, 6

I do not know which, if any, of you guys is the right one to note this, but I wanted to forward for the appropriate person's attention.  If not you, could you please advise me of the right Enron person.

That said, I recommend that the person within Enron responsible for this deal make sure that liability to Enron under the fuel  management deal be fully understood.  We are doing what we can to minimize penalties or costs, but we are quite limited in options due to the bankruptcy.  Please let me know your thoughts.

Regards,
Ed

 -----Original Message-----
From: 	Barbe, Robin
Sent:	Wednesday, June 05, 2002 4:11 PM
To:	Brady, Kevin; Mazowita, Mike
Cc:	Germany, Chris; McMichael Jr., Ed; Barbe, Robin
Subject:	ponderosa plant service events for gas days june 4, 5, 6

Below is a summary of events over the last couple of days.  I hope we don't need.

Events of June 3

Gas service to the plant has been challenging.  Lonestar Pipeline is running a pig for June 4,5,&6.  Lonestar told us that roughly 60% would be cut. Apparently Friday, May 31, Kevin communicated to his scheduling counterparties the maintenance information.  He also indicated that our Lonestar	rep said the only safe scheduling points for the gas to come into their system was Lonestar-Carthage and Lonestar-Katy Plant.  Neither of the plant's suppliers -Apache/Cinergy or Williams provided gas at those points for gas day June 4.   Cuts did occur as we were warned.  Of the total nomination of 45MM, 17.1 MM flowed for today's gas flow.  The supplier breakout is Apache/Cinergy -20MM and  Williams-25MM.   Yesterday, Jeff Smiron at Lonestar said they would allow the plant to pull from their imbalance account for today's flow but they we had to have flowing gas for June 5 & 6.

I communicated the situation to Mike Mazowita at White Pines on June 3.  I also inquired about alternative fuel capability as a back-up.  The plant can burn No.6 low sulfur fuel oil.  Mike indicated that the plant would not want to do that and hadn't burned oil in quite some time.  I told Mike that I would use the possibility of alternative fuel replacement costs as leverage with the suppliers.  He inquired if I knew how Lonestar would cut back the plant.  I told him that I 	wasn't familiar with Lonestar specifically but based on my experiences in gas control from a previous life that for a plant of it's size they probably have remote control capabilities.  If not they would sent a field worker out to the meter station to adjust the valve.

The Apache and Williams supply contracts mirror each other in language.  The way I interrupt the contract language is that the supplier has the right to choose the supply point/points into Lonestar's system from a list of primary or secondary points in Exhibit A.  If the plant's transportation contract gets interrupted then the supplier has the obligation to deliver gas into Lonestar's system at a location that will flow on the plant's transportation agreement.  If the supplier shorts theplant then the supplier is obligated to pay for replacement costs for either gas or alternate fuels.  Yesterday, I communicated my interpretation of the agreements to Frank Fields at Williams and to Michelle Morgan and her boss Tom Strickland at Cinergy.  Tom indicated that there had been an amendment and I told him I didn't have a copy of the amendment.   Sounds like the amendment may have changed some of the delivery points.  I told Tom at Cinergy that 	my primary concern was flowing gas supply to the plant.  Tom was suggesting that this may be a force majuere event.  I told him I didn't interpret	the force majuere language that way.  The force majuere language addresses freeze-offs and line breaks but not maintenance.  I also told him that the contract has a provision for transportation interruption.

In any case I told Tom time was of the essence and I was focusing on the operational issues and not monetary issues.  I told him we could address the 	financial resolution per the contract after the event was over.  I told him that the financial resolution of replacement gas for three days was minimal in comparison to any potential damages incurred by the plant due to the pipe cutting back their gas supply.

Events of June 4

This morning I spoke with Michelle Morgan at Cinergy.  They are supplying 12.9MM at Aquila-Katy into Lonestar for June 5.  Williams is buying 10MM at Carthage and 5MM at HLPL for June 5.  Per Lonestar this should be OK for June 5.  Michelle had said she would pay back the shorted volume from June 4 after the pigging was completed.  They will  pay back the volume ratably for the remainder or in a day.

Russ Brown at Lonestar contacted Kevin around 12:30 to say the plant needed to cut back to the 17.1MM flowing gas volume for today.  The plant's burn rate was causing the pig to run to fast.  Russ is the manager of the transportation administration department at Lonestar.  I called Russ back at 1:10pm to inquire about the problem.  I asked him to call gas control and see when the pig run would be over and to see if there was a point that we could bring gas in intraday to help alleviate the problem.   I also called Mike to inform him of the new events.  Russ called back and said the run would be over at 12:00pm tonight and that the only interconnect location that could help was El Paso Field Services-Ennis.  He also indicated that the pressure had stabilized and the plant may be able
to make it through the run without the incremental gas.  I called Cinergy and Williams to see if they could make gas available intraday at the point.  Frank at Williams said they could not and Michelle at Cinergy said she would let me know.  At 3:30 Michelle indicated that they could buy the gas and the cost would be $0.95 to $1.00 more than the contract price.  She said that they didn't think Apache was liable for the costs because the requested meter is not on the delivery point lists in the contract.  They would buy the gas if we would agree to pay the price.  I called Mike at White Pines and ask him what he wanted to do.  He indicated that he wanted us me to buy the gas.  I called Russ to get an update and see if we could still do the nom.  Russ said the plant was burning more.  Now they were burning 48MM and requested they cut back to their nominated volume of 45MM.  I told Russ I didn't think that they could be I would call.  Mike confirmed that they could not.  He said had already called Brazos to see if they could back off even 20 to 30 MW.  He said Brazos is "playing chicken" and are requesting everything they have.   I told him I would call Cinergy and see if I could get them to nominate the gas and agreed to settle the financial side per the contract after the pigging event is completed.  I called Michelle with my proposal and she said she needed to talk to Apache and would call me back.  We agreed to nominate the intraday gas and work out the financial part after the event was over.  Michelle called back and said the gas was going to come from storage and due to pressure problems the gas could not be delivered.

Events of June 5

The plant made it through the June 4 gas day on gas.  I spoke with Michelle and she indicated that they were planning on serving gas day June 6 the same as June 5.  She said that Apache didn't think they were liable to make up the gas they shorted us for June 4.  She said I could talk with Pat Green at Apache regarding the issue.  Williams moved their gas from Carthage to HPL for June 6.  I left a message for Russ at Lonestar to check on the point.  I requested that 	Kevin do the same with his Lonestar contact.  Neither of us has had a return call from our corresponding Lonestar counterparties.  We will have to address the 	issue intraday if necessary.

I will keep everyone posted of any new developments.


You need to get set up on msn messenger. I takes 2 seconds. Ask an IT guy.

 -----Original Message-----
From: 	Holst, Keith
Sent:	Wednesday, October 17, 2001 2:16 PM
To:	Dorland, Chris
Subject:	FW: Fundies Call

 << File: mtg.xls >>

 -----Original Message-----
From: 	Rangel, Ina
Sent:	Wednesday, October 17, 2001 11:53 AM
To:	Holst, Keith
Subject:	Fundies Call

Who needs to participate from Calgary and Portland so I can email them the AT&T conference call number and participant code.

-Ina


I have tried to approve this a few times, but it does not appear to work.
What is the process to approve this in the system?

Daren


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 01/25/2000
01:22 PM ---------------------------

	From:  Michelle Neville                           01/25/2000 01:04 PM

To: Alicia Jones/HOU/ECT@ECT, Paula Pierre/HOU/ECT@ECT, Cassandra
Moses/HOU/ECT@ECT, Rhonda Robinson/HOU/ECT@ECT, amelia_hinton@valic.com,
danaa@corbettstaff.com, Judy Hernandez/HOU/ECT@ECT, Sandra R
McNichols/HOU/ECT@ECT, Paul Ramirez/HR/Corp/Enron@ENRON
cc:
Subject: Fwd: So Very True...

---------------------- Forwarded by Michelle Neville/HOU/ECT on 01/25/2000
01:00 PM ---------------------------

Jessica Anaya
01/25/2000 08:47 AM
To: Leslie Linares/Corp/Enron@ENRON, Claudia Meraz/HOU/ECT@ECT, Etelvina
Guerra/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michelle Neville/HOU/ECT@ECT,
Angela Barnett/HOU/ECT@ECT, sbellard@hotmail.com
cc:
Subject: Fwd: So Very True...

---------------------- Forwarded by Jessica Anaya/HOU/ECT on 01/25/2000 08:46
AM ---------------------------

Helen Martinez <helenmar1980@yahoo.com> on 01/24/2000 09:01:56 PM
To: Jessica Anaya/HOU/ECT@ECT, Monica Anaya <madaa@swbell.net>, Yanett Anaya
<Yanett2121@hotmail.com>, Keziah Apura <kweenpobby@aol.com>, Carmen Cantu
<ccantu_79@yahoo.com>
cc:
Subject: Fwd: So Very True...

Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Talk to your friends online with Yahoo! Messenger.
http://im.yahoo.com

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From: "Rios Belinda" <b_line78@hotmail.com>
To: lmsol@aol.com, mmederes@yahoo.com, bryan.snoddy@scott.af.mil,
neh21@alltel.net, shelbeekay@aol.com, arreliz@aol.com,  helenmar1980@yahoo.com
Subject: Fwd: So Very True...
Date: Mon, 24 Jan 2000 15:26:43 PST
Mime-Version: 1.0
Content-Type: text/plain; format=flowed
Content-Length: 4268

>From: "Beverly Wehmeyer" <BWehmeyer@gpsolaw.com>
>To: <ALeon57383@aol.com>,<Lybw1@aol.com>,
><melly4260@aol.com>,<Jennifer.Diaz@cna.com>, <b_line78@hotmail.com>
>Subject: So Very True...
>Date: Mon, 24 Jan 2000 17:14:46 -0600
>
> >> Subject:     So very true. Everyone must read this. It's beautiful
> >>
> >> Happiness......
> >>
> >> We convince ourselves that life will be better after we get married,
>have
>
> >> a
> >> baby, then another. Then we're frustrated that the kids aren't old
>enough
>
> >> and we'll be more content when they are. After that, we're frustrated
>that
>
> >> we have teenagers to deal with. We'll certainly be happy when they're
>out
>
> >> of
> >> that stage.
> >>
> >> We tell ourselves that our life will be complete when our spouse gets
>his
>
> >> or
> >> her act together, when we get a nicer car, are able to go on a nice
> >> vacation,  when we retire.
> >>
> >> The truth is, there's no better time to be happy than right now. If not
> >> now,
> >> when?
> >>
> >> Your life will always be filled with challenges. It's best to admit
>this
>
> >> to
> >> yourself and decide to be happy anyway.
> >>
> >> One of my favorite quotes comes from Alfred D. Souza.  He said, "For a
> >> long
> >> time it had seemed to me that life was about to begin - real life. But
> >> there
> >> was
> >> always some obstacle in the way, something to be gotten through first,
> >> some
> >> unfinished business, time still to be served, or a debt to be paid.
> >>
> >>
> >> Then life would begin.  At last it dawned on me that these obstacles
>were
>
> >> my
> >> life."
> >>
> >> This perspective has helped me to see that there is no way to
>happiness.
>
> >> Happiness is the way.  So, treasure every moment that you have and
> >> treasure
> >> it more because you shared it with someone special, special enough to
> >> spend
> >> your time with...and remember that time waits for no one.
> >>
> >>
> >> So, stop waiting until you finish school, until you go back to school,
> >> until
> >> you lose ten pounds, until you gain ten pounds, until you have kids,
>until
>
> >> your kids leave the house, until you start work, until you retire,
>until
>
> >> you
> >> get married, until you get divorced, until Friday night, until Sunday
> >> morning, until you get a new car or home, until your car or home is
>paid
>
> >> off, until spring, until summer, until fall, until winter, until you're
> >> off
> >> welfare, until the first or fifteenth, until your song comes on, until
> >> you've had a drink, until you've sobered up, until you die, until
>you're
>
> >> born again to decide that there is no better time than right now to be
> >> happy.
> >>
> >> Happiness is a journey, not a destination.
> >>
> >> Thought for the day:
> >> Work like you don't need money,
> >> Love like you've never been hurt,
> >> And dance like no one's watching.
> >>
> >>
> >> An Angel To Watch over You
> >> Some people  come into our lives  and quickly go..
> >> Some people  become  friends  and stay a while.. leaving beautiful
> >> footprints on our  hearts and we are never quite the same because we
>have
>
> >> made a good friend!!
> >>
> >>
> >> Yesterday is history.
> >> Tomorrow a mystery.
> >> Today is a gift.
> >> That's why it's called the present!
> >>
> >> I think this is special.....
> >> live and savor every moment.....
> >> this is not a dress rehearsal!
> >>
> >>
> >>   (\           /)
> >>   ( \  __  / )
> >>    ( \ (  ) / )
> >>    (( /<>\ ))           TAKE THIS LITTLE ANGEL
> >>    ( / \/\/  \ )           AND KEEP HER CLOSE TO
> >>      (       )             YOU SHE IS YOUR GUARDIAN
> >>      (       )             ANGEL SENT TO WATCH
> >>      (       )             OVER YOU~~~~~~
> >>
> >>
> >> THIS IS A SPECIAL GUARDIAN ANGEL... YOU MUST PASS THIS ON TO 5 PEOPLE
> >> WITHIN
> >> THE HOUR OF RECEIVING HER..AFTER YOU DO MAKE A WISH....IF YOU HAVE
>PASSED
>
> >> HER ON, YOUR WISH WILL BE  GRANTED AND SHE'LL WATCH OVER YOU
>FOREVER....IF
>
> >> NOT..HER TEARS  WILL FLOW AND NO WISHES WILL BE GRANTED....
> >>
> >> Now don't delete this message,because it comes from a very special
>angel.
>

______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com


Larry,

The copy of the article I mentioned.

Vince


Please see revised agreement let me know if you want me to forward same to
Cutter.

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


Dr. Kaminski:

Please see our attached paper.

Thank you,
Jed Howard, Brian Nelson, and
Stuart Hamel
(713) 218-8903

 - winmail.dat


We have had an overwhelmingly favorable response to the May19 Church
Gourmet.  I have already added one extra party to accomodate the additional
guests.  We now have 48 participants and need a place at the table for 2 or 4
of them.  Is there any way that Tana or Kleta could add a couple of chairs to
their tables to squeeze in two more?  Poor Lisa Kennedy has found herself
with a potential for 16 guests in her townhouse and is not sure where they
will all fit.

If Henry and I could move to Tana's house and Kleta could pick up Dan and
Andrea Goodwin, this would solve the problem.

This is a great problem to have - more than half of the participants in the
dinner are new members at CTK - I hope you can help out.

ALG

P.S.  We can loan you extra chairs if necessary..


We should set up a call to discuss the comments.  I am available at any
time today or tomorrow.
Thanks,
Chris

-----Original Message-----
From: Greg.Krause@enron.com [mailto:Greg.Krause@enron.com]
Sent: Wednesday, June 06, 2001 11:09 PM
To: Boehler, Chris; Kay.Mann@enron.com; laymand@gtlaw.com; Inoff,
Darren; Ann.Elizabeth.White@enron.com
Subject: My comments to David Layman's letter

please see attached

(See attached file: Midway Laymans letter re POA docs.DOC)


Will you please do it, Colin?  Ken is in Japan.

Rosie

Colin Skellett@AZURIX
10/31/2000 10:59 AM
Sent by: Lisa Hobbs@AZURIX
To: Kenneth Lay/Corp/Enron@ENRON
cc:
Subject: Re: Duchess of Northumbria's request

Rosie

Thanks for the message.  Does Ken want me to contact the Duchess or will he?

Colin

Kenneth Lay @ ENRON on 31/10/2000 13:48:05
Sent by: Rosalee Fleming@ENRON
To: Colin Skellett/BTH/AZURIX@AZURIX
cc:

Subject: Re: Duchess of Northumbria's request

Hi Colin -

Ken Lay asked me to advise you that this is fine with him.

Rosie

Colin Skellett@AZURIX
10/26/2000 10:20 AM
Sent by: Lisa Hobbs@AZURIX
To: Kenneth Lay/Corp/Enron@ENRON
cc: catriona.ritchie@pcc.org.uk
Subject: Duchess of Northumbria's request

Ken

Thanks for sending me the request from the Duchess of Northumbria for help
with her garden project.  I have discussed this with John Wakeham and our
view is that unless you have any other reason for helping with this, we
should say a polite "no".

The background is summarised on the attached briefing note from Mike O'Neill,
Managing Director of Lurgi Invent.

Alnwick Castle is several hundred miles out of the Wessex region so it really
is difficult to justify any Wessex help.  Lurgi Invent has done a little work
for the Duchess in providing water features for the garden.  However, this
business currently loses o1 million a year so we would be reluctant to see
any sponsorship out of Lurgi Invent.

Given the nature of the project, the approach from the Duchess and the fact
that she can clearly afford to pay for it herself, we really do believe no is
the right answer.

Please let me know if you want any further information or if you want me to
correspond direct with the Duchess.

Best wishes.

Colin


Thursday, April 26, 2001

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*  IAH-JFK   FROM: HOUSTON-BUSH INTERCO (IAH)
             TO:   NEW YORK KENNEDY (JFK)
   PRICE:    NEW PRICE      WAS      DIFFERENCE
             ---------    -------    ----------
             $158.00      $198.00     -$40.00

*  LGA-IAH   FROM: NEW YORK LAGUARDIA (LGA)
             TO:   HOUSTON-BUSH INTERCO (IAH)
   PRICE:    NEW PRICE      WAS      DIFFERENCE
             ---------    -------    ----------
             $158.00      $198.00     -$40.00

*  IAH-LGA   FROM: HOUSTON-BUSH INTERCO (IAH)
             TO:   NEW YORK LAGUARDIA (LGA)
   PRICE:    NEW PRICE      WAS      DIFFERENCE
             ---------    -------    ----------
             $158.00      $198.00     -$40.00

See below for important information on these fares.
===========  OF SPECIAL INTEREST ==============

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========  Travelocity Hotel Value Rates  =============

Travelocity.com offers Value Rates at great hotels in:

NEW YORK KENNEDY (JFK) starting at just $69
Click:
http://dps1.travelocity.com:80/hotsrqst.ctl?mode=2&airport=JFK&rate_cat=V

HOUSTON-BUSH INTERCO (IAH) starting at just $55
Click:
http://dps1.travelocity.com:80/hotsrqst.ctl?mode=2&airport=IAH&rate_cat=V

NEW YORK LAGUARDIA (LGA) starting at just $69
Click:
http://dps1.travelocity.com:80/hotsrqst.ctl?mode=2&airport=LGA&rate_cat=V

===================   VACATIONS AND CRUISE PACKAGES ======

VACATION DEALS! Hot deals to the Caribbean, LAs Vegas, and more!
Check out our daily offerings of deals for vacation packages and tours.
See all of the great deals right now at
http://leisure.travelocity.com/RealDeals/0,2942,TRAVELOCITY_VAC,00.html

CRUISE DEALS! Don't miss a look at our incredible Cruise Deals!
Updated daily, this area features the best cruise rates to a host of fabulous
ports of call.  Find the voyage that suits your budget at
http://leisure.travelocity.com/RealDeals/0,2942,TRAVELOCITY_CRU,00.html

=====================   EXCLUSIVE MEMBER BENEFITS     ================

Introducing the Travelocity Preferred Traveler Program.
Get exclusive members-only savings including: 5% off Travelocity GoodBuy
Fares, airline club lounge passes, $15 off Hertz weekly rentals, up to 20%
off at 7,000 restaurants nationwide, and much more.  Receive a free weekender
bag when you enroll today.
Visit http://leisure.travelocity.com/preferredtraveler/?source=PM.
 .
The NEW Travelocity World MasterCard
Earn points towards free travel with the new Travelocity World MasterCard!
You'll earn 1 point for every dollar spent.  Earn 8,000 points and you'll
receive $100 off your next Travelocity.com booking.  Well spot you 4,000
points to get you started, so you're already half way there! Visit
http://www.travelocitycard.com to apply.

=====================   CUSTOMER SERVICE  ==================

IMPORTANT FARE INFORMATION:
  All fares are quoted in US Dollars.  Fares shown are for one
  adult round-trip between your selected cities and are subject
  to additional charges, including, but not limited to, Passenger
  Facility Charges (ranging from $2-$18), Federal Segment Fees of
  $2.75 per segment (defined as a takeoff and a landing), and
  taxes/fees associated with international itineraries of up to
  USD $113 or local currency equivalent. Fuel surcharges, if applicable
  are included in the fees listed.

  Total fare per passenger, including all charges, will always
  be displayed to you prior to final ticket purchase. Please note
  that fares are subject to restrictions, may not be available on
  all flights, and may change without notice. For detailed descriptions
  of the fare rules, click on the corresponding rules link.

HOW DO I:

* CHANGE OR CANCEL MY SUBSCRIPTION TO FAREWATCHER EMAIL?-

http://dps1.travelocity.com:80/fwemsub.ctl?Service=TRAVELOCITY

* sPDATE MY EMAIL ADDRESS?

http://dps1.travelocity.com:80/fwemsub.ctl?Service=TRAVELOCITY

* RETRIEVE MY PASSWORD?

http://dps1.travelocity.com:80/lognpwdform.ctl?Service=TRAVELOCITY


The FBI has uncorroborated evidence of possible terrorist attacks against the United States.  Reportedly, unspecified groups are targeting suspension bridges on the West Coast beginning Friday, Nov. 2 and continuing through Wednesday, Nov. 7, 2001.

No further information about this alleged attack is known at this time.  The FBI is attempting to verify the validity of this report.  In the meantime, California officials are increasing security at the state's suspension bridges, and the National Guard has been authorized to assign troops to protect the bridges.

We shared this information with our West Coast employees earlier in the day.  In the current circumstances, we are likely to see these bulletins fairly frequently.  We don't want to alarm you, but we do want to keep you informed, so we will continue to disseminate this information.


whatever you think - just let me know
-----Original Message-----
From: Jason Bass [mailto:JBass@stdauto.com]
Sent: Tuesday, November 27, 2001 4:00 PM
To: Bass, Eric
Subject: DVD player for Mom and Dad

<http://www.bestbuy.com/detail.asp?e=11064102&m=1&cat=32&scat=244>

or this is the best one for the money.

<http://www.amazon.com/exec/obidos/ASIN/B00005AK8U/104-2782814-1135955>

What do you think?