---------------------- Forwarded by Charles Yeung/HOU/ECT on 05/15/2001 09:08
AM ---------------------------

"Julie Morgan" <Julie.Morgan@nerc.net> on 05/15/2001 08:13:47 AM
To: "Gene Gorzelnik" <efg@nerc.com>
cc:
Subject: NERC Releases its 2001 Summer Reliability Assessment

Ladies and Gentlemen:

For Immediate Release:

The North American Electric Reliability Council (NERC) released its 2001
Summer Assessment today.  "The assessment concludes that California will
experience difficulties meeting its projected electricity demand this
summer," said Michehl R. Gent, NERC President and CEO, "and California
electricity users will experience rotating blackouts, much more so than
last summer or this winter."  The report also states that extreme
drought conditions throughout the Pacific Northwest will affect the
available output of hydroelectric resources.  "We expect that utilities
in the Pacific Northwest will be able to serve all of their firm demands
this summer," he added, "but they will not have electricity available to
export to California and elsewhere."

For your convenience, a copy of the press release announcing the 2001
Summer Assessment is shown below. In addition, this press release as
well as the subject reports are available from the NERC web site
www.nerc.com.

If you have any questions, let me know.

Sincerely,

Julie Morgan

=========================
Contacts: Ellen P. Vancko
evancko@nerc.com or
Eugene F. Gorzelnik
efg@nerc.com

May 15, 2001

NERC Releases its 2001 Summer Reliability Assessment

The North American Electric Reliability Council (NERC) released its 2001
Summer Assessment today.  "The assessment concludes that California will
experience difficulties meeting its projected electricity demand this
summer," said Michehl R. Gent, NERC President and CEO, "and California
electricity users will experience rotating blackouts, much more so than
last summer or this winter."  The report also states that extreme
drought conditions throughout the Pacific Northwest will affect the
available output of hydroelectric resources.  "We expect that utilities
in the Pacific Northwest will be able to serve all of their firm demands
this summer," he added, "but they will not have electricity available to
export to California and elsewhere."

In addition, the report cautions that New England, New York City, and
Texas should be closely watched, despite having adequate resources to
meet demand.  New England and New York City are particularly sensitive
to long-term heat waves and higher-than-expected generating unit forced
outages.  Texas will undergo a major shift in its operation in June when
it opens up to full retail access and consolidates ten control area
operations into one.  The report concludes that generating capacity
resources should be adequate to meet projected electricity demands in
other areas of North America this summer.

 The assessment also points to concerns regarding north-to-south
transmission transfer capability in the eastern portion of the United
States, particularly east of the Mississippi River.  The ability to
transfer electricity from the north to the south in the Eastern
Interconnection was severely tested last summer, spurred by cool
temperatures in the north and hot temperatures in the south, as well as
high fuel prices in the south.  Early indications are that key
transmission interfaces used to transfer electricity from north to south
are already fully subscribed going into this summer, and that
transmission congestion will again be prevalent in this area throughout
the summer.

 As a supplement to its 2001 Summer Assessment report, NERC also
published a 2001 Summer Special Assessment.  This document is an
in-depth, independent examination of the expected summer conditions in
both California and the Pacific Northwest, and is based on interviews
with experts from both the California Independent System Operator
(CAISO) and the Northwest Power Pool (NWPP).

 NERC's CAISO assessment agrees with the overall conclusions of
both the CAISO and the Western Systems Coordinating Council (WSCC) ? the
CAISO will not have sufficient resources to meet expected demand this
summer and involuntary curtailments of firm customer demand (rotating
blackouts) are expected.  NERC expects supply deficiencies to be greater
than those expected by the CAISO.  NERC anticipates that firm demand may
be curtailed for about 260 hours over the course of this summer, with an
average firm demand curtailment of about 2,150 MW.

 NERC expects that electric utilities in the NWPP will be able to
serve all their firm electricity demands this summer.  However, NWPP
will not have the ability to export the amounts of electricity it
traditionally has to California or elsewhere due to limited energy
output from hydroelectric facilities resulting from one of the worst
water years on record.

The independent reports, prepared by NERC's Reliability Assessment
Subcommittee, assess the projected demand and the resources available to
meet that demand this summer, as well as transmission reliability
issues.  The reports are posted on NERC's web site at www.nerc.com.  The
web site also includes information on NERC and its transformation into
NAERO, and the electric industry's electricity supply and delivery
programs and activities.

*********************
NERC is a not-for-profit company formed as a result of the Northeast
blackout in 1965 to promote the reliability of the bulk electric systems
that serve North America. It works with all segments of the electric
industry as well as customers to "keep the lights on" by developing and
encouraging compliance with rules for the reliable operation of these
systems. NERC comprises ten Regional Reliability Councils that account
for virtually all the electricity supplied in the United States, Canada,
and a portion of Baja California Norte, Mexico.


Sorry! I meant Tuesday October 23rd. Monday is the grand dinner

-----Original Message-----
From: MacMillan, Ian
Sent: Monday, October 15, 2001 3:06 PM
To: 'vkamins@enron.com'
Subject: dinner invitation

Dear Vince

I would like to invite you to join me for dinner on October 22, 2001 at 8:30  We will be joined by other respected scholars attending the Strategic Management Conference.  We will be dinning at "The Stinking Rose" on North Beach.

Please let me know if you are able to attend.

Many thanks

Mac


Geynille,

Thanks for calling in list to me yesterday.  Sally is trying to juggle her
calendar in order that she will be able to attend presentation on Sept. 28.
Her plan at this point, is to attend dinner & presentation on 28th but not
dinner on the 27th.  Unfortunately, her schedule will not allow her to be out
on Thursday.  She was also wondering about details of dinner - said in the
last meeting it had been discussed to possibly do a western theme - with
jeans (?).  Is that still on?  If not, is dinner to be held at Stone Davis
Hall?  Can I get the address of Stone Davis & address, phone, & fax for
Wellesley Inn for Sally's itinerary.

Thanks,
Patti x39106

Geynille Dillingham
09/21/2000 12:34 PM
To: Cindy Olson/Corp/Enron@ENRON, Jean Mrha/NA/Enron@Enron, Mariella
Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sally Beck/HOU/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Christie Patrick/HOU/ECT@ECT, Carol Jean
Marshall/HOU/ECT@ECT, Elizabeth Shim/Corp/Enron@ENRON, Kelly H
Boots/HOU/ECT@ECT, Jennifer Fraser/HOU/ECT@ECT, Stephanie Goldman/Enron
Communications@Enron Communications, Grace Kim/NA/Enron@Enron, Richard
Schneider/Enron Communications@Enron Communications, bryan_garret@enron.com,
Kim Wilkie/ET&S/Enron@ENRON
cc: Bobbie Power/Corp/Enron@ENRON, Melissa Jones/NA/Enron@ENRON, Patti
Thompson/HOU/ECT@ECT, Twanda Sweet/HOU/ECT@ECT, Mary Border/Corp/Enron@Enron,
Laura Schwartz/Corp/Enron@Enron, Zulie Flores/Corp/Enron@ENRON
Subject: Wellesley Information

Please review the following attachments for details regarding the
Presentation.  I have attached the Itinerary, along with details regarding
the event.  We have changed the interview dates again.  The next possible
dates to have the interviews are November 28th and 29th.  Anything after that
would have been the last week of the semester in December or  in February.  I
have attached the strategy also for your review.

Please don't hesitate to call me with questions.  I will be on the road and
can be reached via my cell phone.
The number is 713-417-2236.

Thanks, Geynille


Notice No:  01-71
February 27, 2001

COMMODITY EXCHANGE, INC.
CANDIDATES, FORUM

Please be advised that a Commodity Exchange, Inc. candidates, member forum is
scheduled to be held on MONDAY, MARCH 5, 2001 at 2:45 p.m. in the Seminar
Room of the Exchange, One North End Avenue, New York City.

At that time, each candidate will be given the opportunity to address the
membership regarding the 2001 Annual Elections scheduled to be held on
Tuesday, March 13, 2001.

Inquiries regarding the aforementioned may be directed to Donna Talamo at
(212) 299-2372.

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

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(01-71)"

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


Receipt point: Dawn (Ontario)
Delivery points: Chicago - LDC's (Illinois), ANR ML7 (Wisconsin), Mich.-Consum. Energy (MIchigan)

Competing pipelines: ANR, Panhandle Eastern, NGPL, Trunkline

 -----Original Message-----
From: 	Zipper, Andy
Sent:	Wednesday, June 06, 2001 11:38 AM
To:	Carter, Carl
Cc:	Forster, David; Shults, Bob
Subject:	RE: Vector Pipeline

looks good. what are vector's major receipt and delivery points ?


i hate notre dame.  tim, i need to get down to your office today.


Here is your HR/SAP/Personal Number: P00503900.

Thanks Tjae


Colleen and I have been trying to figure out a date for dinner and I thought
it might be nice if we all had dinner together at our house next week
(Colleen and I will cook - don't be scared).  We figured out Thursday works
for us both, so I hope it works for all of you.  Scotty, I realize you might
not be at home until 8:30 or so, but that's ok.

OK??

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

-----Original Message-----
From:  Colleen Silva [mailto:Csilva@redsky.com]
Sent: Wednesday, May 09, 2001 12:00 PM
To: 'Cameron Sellers'
Subject: RE: hi baby girl

yes yes yes! next thursday is perfect, but not too expensive.... trying to
conserve money in case i get laid off, ouch ouch ouch, but a real
possibility, wow!


These deals were in under Prebon - 509009/010 have been changed to APB.

Tom does not recognize last deal.

K

Kerri Thompson@ENRON
01/30/2001 02:33 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb checkout

missing deals for tom a

sell srp
31st
50 mw
260.00
pv

sell sempra
feb
25 mw
240.00
sp-15

buy sempra
feb
25 mw
245.00
pv

thanks


Here is my little angel.

http://hometown.aol.com/trogg522/myhomepage/index.html

http://www.growingfamily.com/webnursery/babypage_view.asp?URLID=0U0X1E7K6M

The first web site is my aol homepage and some people have a hard time pulling this one up.


Once the Arcos plant in Spain is financially closed (expected in Q2 of this
year) Eric Gonzales will be moving back to Houston to work exclusively on
co-managing Enron's LNG markets.   We are very appreciative of Eric's efforts
in Europe since early 1998 and look forward to continuing to work very
closely with his LNG team in the coming years.  From this point forward Eric
will focus his remaining time in Europe exclusively on financially closing
Arcos.

We are therefore making the following changes immediately.   The origination
responsibility for Italy will be moved under  Eric Shaw.  Ricardo Bortolloti
will continue in the role as Italian Country Manager and will report to Eric
Shaw.   Mariano Gentilini will become our Country Manager for Spain and
Portugal and will report directly to the Enron Europe Office of the Chairman.

The Arcos Power Project is likely to create a large gas to power spread
position and so we have asked Paul Mead to assume the added responsibility
for our natural gas risk positions in Spain.  This position is much more
likely to be supplied and influenced by LNG rather than Continental Gas
markets and Paul will  work quite closely with both Enron Global Markets and
the Continental Gas team.

Ross Sankey who has been managing our marketing efforts in Holland will also
head a new organization that will focus on subsea interconnector and power
transmission opportunities across Europe.   Among the prospects his team will
pursue include projects  from Norway to the UK,  Sweden to the Continent,
and bidding on existing French interconnector capacity.   He will report  to
Eric Shaw for the Holland markets and to Richard Lewis for the Transmission
responsibilities.

Finally the Continental Gas team is interacting far more with our UK gas team
than our power teams on the Continent.  Therefore David Galagher who manages
our Continental Gas team  will now report directly to Richard Lewis.

We have aggressive income targets for this year and anticipate that  these
changes will create the right links to optimize our performance.  Please help
make these changes as smooth as possible.

John Sherriff
Michael Brown


(See attached file: FOMC Meeting.pdf)

      Carr Futures
      150 S. Wacker Dr., Suite 1500
      Chicago, IL 60606  USA
      Tel:  312-368-6149
      Fax:  312-368-2281
      soblander@carrfut.com
      http://www.carrfut.com
 - FOMC Meeting.pdf


Jeff (CES) and I just had a nice chat about the Choice program. Jeff
mentioned the "famous contracts" that should be used for Choice Peaking
outside the SST. I double checked with Joann and these contracts are being
used for CES Endusers (C&I customers) as follows:

37956 600 CES EU
61822 4000 CES EU
61825 8000 CES EU
61838 1000 CES EU
61990 2000 CES EU
65402 13400 CES EU (contract total is 20,000)
65418 500 CES STOI
66931 4000 Jeff this is Enron's transport. The Paulding contract went away
effective 4/1/2000.
67693 1200 CES EU
 Rest  CHOICE
38021 19041 CES EU (note... we are using Dayton, because not enough capacity
for CES EU)
38021 27,000 STOI

If you want us to use these contracts for Choice, we would have to cut the
CES EU volumes to 0. This would impact about 40 nominations on TCO side. You
would have to ask Kara/Heidi/Kim/Donna... how many nom's on their side.
Because of the labor involved and the general consensus not to cut CES EU
markets, we have always left these nom's alone. We have found other capacity
for Choice gas above the SST capacity (54,000 now and 134,000 in the winter).
There are many different options... and we can discuss them over a conference
call.

The other item to consider, the Choice program requires us to have some STOW
to use to balance Choice burns. Currently, I have been doing 50/50 to 60/40
split (pool/stow). The baseload target is 20,000. Actual STOW for April has
been 2400 to 42,000 depending on mother nature. This is up for discussion...
I used to discuss this with Paul and Noel on daily basis. Now, I'm just doing
it on my own.

Lastly, our target for net STOI is 36,000 a day. We have been calling for
overinjections, caused by mother nature and choice actuals. My understanding
is that CES had a different goal for net STOI... we just need this clarified
and can move forward for the rest of the month. We have typically tried to
meet the EOM goal, not necessarily a daily goal because of choice actuals
cause havoc. Therefore, we can get the net STOI back in line... with the
remainding days.

Hope this covers it.

Chris Germany@ECT
04/11/2000 02:01 PM
To: dkinney@columbiaenergygroup.com, jporte1@columbiaenergygroup.com
cc: Joan Veselack/Corp/Enron@ENRON, Molly LaFuze/HOU/ECT@ECT

Subject: Storage

Hey gang.  Joanie is still working on current day activity.

Joanie, please call Jeff Porter at 703-561-6447.

I will try to update this worksheet every other day if not every day.
---------------------- Forwarded by Chris Germany/HOU/ECT on 04/11/2000 01:26
PM ---------------------------

Chris Germany
04/11/2000 07:31 AM
To: dkinney@columbiaenergygroup.com
cc:
Subject: Storage

Here is a quick and dirty worksheet.  I've been trying to come up with a
total daily activity worksheet on "Sheet 2".  The storage numbers and choice
numbers are on "Sheet 3" and the proxy numbers with the daily storage volumes
are on "Sheet 1".


Per our conversation.   Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 10/24/2000 09:08 AM -----

	Mark E Haedicke
	10/23/2000 04:53 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Daniel R
Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julia Murray/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT
		 cc:
		 Subject: TOP TEN Risks

Please start working on a top ten legal risks list.  I want to include that
list for each of your companies (EGM, EIM and ENW) in the monthly report.
This list should be in bullet format.  If you have any questions, please give
me a call.

Mark


Robert:

I believe that Sylvia Sauseda usually handles these matters.  Please let us
both know the date you will be arriving with as much notice as possible so
that we can have things ready for you.  We're looking forward to seeing you!

Robert Quick
02/17/99 12:42 PM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: RE secondment

Mark, my secondment is coming up in a few weeks time. Sorry to trouble you
about mundanities  but whom do I contact about arranging a desk, telephone pc
etc. HR have told me it would be one of the assistants in ECT Legal. Any
ideas? tks


All MDQ and negotiated rate and fuel should be entered on the Primary ticket.

d.n.

Chris Germany
05/04/2000 03:38 PM
To: Scott Mills/HOU/ECT@ECT, Thomas Engel/HOU/ECT@ECT, Dave
Nommensen/HOU/ECT@ECT
cc: Scott Goodell/Corp/Enron@ENRON, Judy Townsend/HOU/ECT@ECT, Dan
Junek/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Brenda H
Fletcher/HOU/ECT@ECT
Subject: Capacity question

I have fuel waivers on my CNG transport contracts.  I am entereing these fuel
waivers on the primary capacity deal in Sitara.  Do I need to enter them on
the secondary capacity deal ticket?

Also, I have an IT discount on one of my Tennessee contracts on gas flowing
from the Gulf (East Region) to CNG (Market East Region).  Which transport
capacity deal ticket should I enter the discount on?


Jeff --

You are scheduled to do a 30-minute telephone interview today at 2:30 p.m. with Fast Company magazine for an article about teaching.  The underlying premise for the article is that to be an effective leader, you must be an effective teacher within your organization.  The reporter, Chuck Salter, was referred to you by David Garvin at Harvard and by a Portland Oregonian reporter.  Given that you transformed how Enron does business by teaching the organization a new business model, this is an ideal opportunity for you and to highlight our non-traditional culture.  For the article, Chuck is also interviewing top executives at Pepsi, Yellow Warp, National Geographic and the Philadelphia Inquirer.

The interview questions are likely to include the following:

Tell me about the teaching you do at Enron, either formally or informally. What do you teach? Whom do you teach?
Why is it important to you?
What are the principles that guide your teaching?
What do leaders need to know, think about, and do to be better teachers?
How do you measure or evaluate teaching within a corporation?
Tell me about someone who has benefited from your teaching.
Tell me about your favorite teachers and what you learned about teaching from them.

I will come to your office at 2:30 to place the call.

Thank you.
Karen


Member Services
Notice No. MS-28
May 4, 2001

COMMODITY EXCHANGE, INC.

NOTICE OF INTENTION TO TRANSFER MEMBERSHIP

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

Stephen Willner (SPW-247)

 In connection therewith, notification of any claims against the
aforementioned individual(s) arising out of transactions executed on the
Exchange up to the close of business on October 20, 2000, must be submitted
to the Corporate Secretary,s Office within ten (10) days.

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

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

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(MS-28)"

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


I am sorry Ladies - But I cant see you guys this week.


OPEN IN PRIVATE

AND BE CAREFUL.... MINE OPENED UP ON ALL FOUR SCREENS.... YOUCH !!!!!!

>
>
>

 - Sluts.pps


Last evening we discussed with Robin Gibbs an e-mail we would send to the
"List of 100," telling them to be circumspect with electronic mail
communications.  I prepared a short e-mail and had Barrett Reasoner take a
look and approve it
last night.  Here it is:
_________________________________

You have been identified as a person possibly having contact with the power
situation in California.  This e-mail is to remind you that the dissemination
of information should be given careful consideration.  You should be prudent
in the circulation of electronic mail relating to your work and activities.

__________________________________


Hi, my name is Kay, and I'm a Diet Coke addict.

From: Suzanne Adams@ECT on 08/22/2000 05:21 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Edgecombe Energy and Capacity Contract

Don't you drink Diet Coke?

	Kay Mann@ENRON
	08/22/2000 05:19 PM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: Re: Edgecombe Energy and Capacity Contract

At least drinks and coffee. Thanks for thinking of it.

From: Suzanne Adams@ECT on 08/22/2000 05:12 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Edgecombe Energy and Capacity Contract

I sent an email to everyone (actually just replied to your email but to all)
that the meeting will be held in 27C1.

Since it's a 2 hour meeting, would you like coffee and soft drinks and
breakfast food?  Please advise.

	Kay Mann@ENRON
	08/22/2000 05:06 PM

		 To: John Moore/Corp/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Mitch
Robinson/Corp/Enron@Enron, Larry Soderquist/HOU/ECT@ECT, Herman
Manis/Corp/Enron@ENRON, Matthew F Gockerman/HOU/ECT@ECT
		 cc: Heather Kroll/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, (bcc: Suzanne
Adams/HOU/ECT)
		 Subject: Edgecombe Energy and Capacity Contract

In an effort to pull the pieces together, a meeting has been scheduled to
discuss the draft energy and capacity contract (formerly the PPA).  It is
scheduled for Thursday, August 24th, at 900am.  We are still in the process
of locating a conference room, so the location is TBD.

Thanks,

Kay

Here are the most recent comments from VEPCO:

Some of you may have received this already.  I have not compared it against
what we last sent them.


Jeff  I know you are  a crazily  busy  man.  This  is  a Q and A  format of
the  3 page  text of a serious
brochure for  customers of  ENA  and  EES  and  other Enron publics  answering
tough questions  on  today's  high  gas prices  and Calif. power market
chaos.
I know you  are extremely  busy   but  when you can get to it  I would like
your  frank comments.  It has been  reviewed  so far  by Janine Migden and
Rob  Bradley and
I have trheir  comments included  in this   document draft  # 8.   The  A B
C  notations  you see tie to
graphics  that  support these points. I can send the graphics  too if  you
wish  ...thx and regards  Margaret


Dan,

Per our conversation on Friday regarding HPL, please coordinate with Clement
to issue a new guaranty.  As you recall, Aquila Energy Marketing Corporation
has $50MM of exposure from HPL and they have requested additional security
above the amount in the current guaranty listing HPL (gty2846.doc).  Please
issue a new guaranty for HPL covering Aquila Energy Marketing Corporation for
physical natural gas in the amount of $50MM.  In addition, please put
language in this guaranty which would amend the existing guaranty
(gty2846.doc) that would remove HPL.

Thank you,

Russell


Salerno Swap Agreement ) Discussion Timeline
Salerno deal: 6 months, Nov ,00 ) Apr ,01, LLDPE swap sold at 39.5 cpp basis
CMAI mid.
Deal discussed Oct 2-6, verbal agreement was reached on the 5th.  Faxed
non-binding indication sheet initialed by Bob Lampo on Oct 5.

10/03, Tues: Salerno calls requesting quote, we quote verbally a couple hours
later that same day.

10/05, Thur: Conversations during which Bob negotiates price and we hold
firm.  Also conversations during which I question him about whether or not he,
s back to backing the deal and what are his motivations for entering into the
deal.  He wouldn't elucidate on any of the questions.  Finally discussions
regarding the need for a credit check, and the likely requirement for an LC.
He asked at that point how large an LC would be required, I informed that I
didn,t know but that it depended on credit,s review of his business and of
our forward view on the market.  We agreed on price and all commercial
terms.  I informed that I would fax an indication sheet and that he should
initial it then return it to me by fax to indicate his approval of the deal.
He did so.

10/11, Wed: conversation regarding financial docs being sent to credit
(details in tape transcript).

10/17, 19 or 20: messages from Bob asking for clarification on the confirm.
Message from me roughly explaining the salient points of the confirm.
Subsequent conversation sharing the good news that he,d been granted a credit
line of $250k and for exposure beyond that he,d have to post an LC.  No
indication of any refusal of our terms at that point (details once tapes
reviewed).

10/23-27: no conversations that I can recall

10/30, Mon:  Received Salerno message communicating intention to renege
(vacation day)

10/31, Tue: Legal advised.  Bob,s message forwarded

11/1, Wed: travelling..msg left with Bob Lampo at Salerno stating that our
position was that a deal was in place as he faxed to us our term sheet with
his initials and we had done a credit check giving him a line of credit.

11/2, Thu: Confirms sent to legal

11/3, Fri: Legal calls Salerno.  Message left.

11/6-9, Mon to Thu: messages traded with legal

11/10, Fri: Legal recommends pulling the tapes.

11/14, Tues: Legal calls Salerno.  Message left.  Bob responds with his own
message.  Bob doesn,t dispute price but does dispute credit terms and uses
this as basis to drop the deal.   Tapes received.   Transcripts of Nov 11
conversation made.  Additional tapes requested for 10-16, 19, 20.

11/16, Thur: Meeting with Richard, Sara, Jay, Doug and Alan.  Message left
with Bob Lampo informing that we were willing to work with him on addressing
his credit issues.  Call not yet returned.


Kay:

The enclosed documents provided by Isabel Parker appear to be consistent
with the discussions in our conference call yesterday and are fine with me.
Per Isabel's request, you may wish to quickly review these documents to
ensure that they are in accord with Enron's discussions with GE.  Isabel
advises that she has not yet forwarded these documents to GE.

Carolyn M. Campbell
King?& Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

-----Original Message-----
From: PARKER, Isabel [mailto:isabel.parker@freshfields.com]
Sent: Tuesday, April 17, 2001 6:10 PM
To: Carolyn Campbell (E-mail)
Cc: Gregory F. Lang (E-mail); O'BRIEN, Lisa
Subject: Pegasus - GE Consent and Letter Agreement

This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status.  Please notify
us immediately by reply e-mail and then delete this message from your
system.  Please do not copy it or use it for any purposes, or disclose its
contents to any other person:  to do so could be a breach of confidence.
Thank you for your co-operation.  Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email ITHelp@freshfields.com
if you need assistance.

Carolyn

As discussed, we attach for your comments a clean and blacklined copy of the
GE consent, showing the changes from the version last circulated, and a
draft of the letter agreement to be signed by GE, to which the agreed forms
of the GE documents will be annexed.
We have not yet sent these documents to GE.  We would be grateful if you
could confirm that the timing contemplated in the GE letter agreement is in
line with Enron's agreement with GE.

With respect to the ENA Consent, I would be very grateful if, to save time,
you could send me a mark-up of the language Enron proposes relating to
submission to jurisdiction.

Please call me with any questions (212 277 4025)

Kind regards
Isabel

                    Confidentiality Notice
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exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - COMPARE001.DOC
 - NY003699615.DOC
 - NY003700961.DOC


Andrea, Hilary, Marnie & Rena has sent you an Evite Invite!

To view your Invite, simply click the following Web address:
http://evite.citysearch.com/r?iid=OTLSJRRUFPVETQSRVOVJ

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* Updated 01/09/01.


-----Original Message-----
From: Oland, Kristen
Sent: Monday, June 11, 2001 2:24 PM
To: Cherry, Beth; Lindner, Fred; Landry, Ashley
Subject: FW: NYTimes
Houston Totals Damage and Casualties From Tropical Storm
By ROSS E. MILLOY
HOUSTON, June 10 - As storm-weary residents emerged from their waterlogged
homes here today, they faced highways littered with jack- knifed 18-wheeled
trucks, roads lined with abandoned cars, trash and tires and whole
neighborhoods underwater.
Tropical Storm Allison, which caught just about everyone off guard when it
struck with renewed strength on Friday and early Saturday, hammered
southeast Texas for nearly a week, leaving at least 15 people dead and about
10,000 homes and 5,000 buildings damaged. One person also died in Louisiana
as a result of the storm.
With the threat of rain easing today in Texas, Gov. Rick Perry toured the
area by helicopter with Mayor Lee P. Brown and officials from the Federal
Emergency Management Administration. Mayor Brown has estimated that at least
5,000 buildings in Houston were damaged by water, with losses perhaps
reaching $1 billion.
In light of the storm's devastation, President Bush has declared Harris
County and 27 other southeast Texas counties a federal disaster area,
eligible for loans to local governments and individuals.
"We're still assessing just how much damage we've got, and it may be some
time before we've got an accurate count," said Paul Bettencourt, the Harris
County tax assessor who estimated that 10,000 homes had been damaged. "Many
areas are still flooded and we haven't been able to get into them yet."
At the world's largest medical facility, the Texas Medical Center near
downtown - a complex of more than a dozen hospitals and research
laboratories - dozens of volunteers worked furiously today to unload crates
of dry ice to cool laboratory specimens put at risk by power failures over
the weekend.
Claire Bassett, a vice president at the Baylor College of Medicine, said
thousands of laboratory animals, mainly rats and mice, had been killed when
storm waters flooded their facilities overnight Friday.
"We won't know just how bad the loss is until we can get in there, but we're
estimating the losses of lab animals throughout the Texas Medical Center at
several thousand," Ms. Bassett said. But worse, she said, was the loss of
scientific research and specimens flooded or destroyed when the power
failed.
One of those most affected by the loss was Dr. Bonnie Dunbar, a professor of
molecular and cellular biology at the college, who said she lost more than
20 years worth of laboratory specimens and clones. "It's all gone, more than
20 years of work, and there are hundreds of other like me," Dr. Dunbar said.
"We've lost meticulous research, doctoral theses, experiment records,
biological samples, all gone."
Dr. Dunbar, who was to have left for Kenya on Monday as part of a Fulbright
scholarship program to perform pediatric H.I.V. research in Africa, has also
been displaced from her home: the rains knocked out power and telephones in
her 40-story apartment building, and she has been forced to move.
In the hard-hit northeastern part of the city, more than 3,300 people took
refuge on Saturday night in the Lakewood Church, which eventually became the
largest refugee center of more than 30 across the city.
"People just started coming and kept on coming because they had no place
else to go," the church's pastor, the Rev. Joel Osteen, said. "Eventually,
city workers started dropping people off here in dump trucks because they
were the only vehicles that could get through the water."
Short of food by Saturday morning, Mr. Osteen recruited two brothers- in-law
with Chevy Suburbans and a family friend for a visit to Sam's Discount Club,
where they spent $3,000 on ingredients for sandwiches.
"Every time we returned with a load of food, the crowd of people would have
gotten larger and we'd have to go make another trip," he said.
But by today, the local news media had reported about food shortages at the
church, and area residents bearing food, diapers, clothing and bottled water
created a traffic jam in the streets outside the church.
Signs of the flooding were apparent in the neighborhoods of the Lakewood
area, with soaked carpets, furniture and clothing strewn in dozens of muddy
yards.
In addition to the staggering job of cleaning up after the flood, there was
also the burden of mourning, as details of the deaths the city sustained
over the weekend emerged.
One couple, walking along the banks of White Oak Bayou, were swept away by a
rapidly rising torrent, their bodies later found in the branches of nearby
trees.
A man trying to save a television set was electrocuted when he reached for
its antenna; his mother also was electrocuted as she tried to help him.
At least five drivers died after being caught by high water in their
vehicles.
But one of the most shocking accounts was the death of Kristie Lee
Tautenhahn, 42, a clerk at a downtown law firm. Warned that vehicles in the
Bank of America building's underground garage should be moved to higher
ground, she took an elevator down to get her car from the fourth level of
the garage early Saturday morning.
At the third level, water flooded into the elevator, shutting off power, and
Ms. Tautenhahn drowned there, alone.
"To die in an elevator is just tragic," John Tautenhahn, her cousin, told
The Houston Chronicle. "This is just devastating."
Much of downtown remained crippled today, without power or working
telephones. Parts of the dozen miles of tunnels beneath the city, built to
help downtown office workers escape the summer heat and filled with food
courts and stores, were flooded.
At the Harris County Jail, which is adjacent to Buffalo Bayou, 3,000 inmates
had to be moved to other facilities when the floods knocked out electricity
and water.
Continental Airlines, based in Houston, resumed flights today after
canceling more than 1,000 flights on Saturday.
And all across the city, as the sun finally poked through still-cloudy
skies, residents shared stories of what they are calling the "Great Flood of
2001."
Jennifer Brazzel, an artist and interior designer, was stranded when she
tried to drive her Toyota 4-Runner five miles to a friend's house on Friday
night. Her car flooded just off Rice University's campus and a block from
the Rice Village Shopping Center.
"I was trying to drive to my friend's house and all of a sudden Rice
Boulevard was like a river," Ms. Brazzel said. "Water was over my dash."
Ms. Brazzel managed to get the car door open, and fought her way to higher
ground, although the current knocked her down several times along the way.
The sun had risen before she got home.
Linda Gomez's husband was moving cars to higher ground when Ms. Gomez heard
a noise in the backyard and saw water bursting from a manhole cover. When
she went to investigate in the dark, she slipped into the hole. The water
was only a foot deep but the lid was stuck and the current was strong. She
was treated for bruises and scrapes at a hospital on Friday.
"When I got home the water was starting to rise," she said. She disconnected
electrical appliances and began to move furniture higher, but by 10:30 that
night the water had started coming into the house.
"By then it was too late," Ms. Gomez said. "The water came into the house so
fast. We were trying to get things up. There was no way to get out."
As the water continued to rise in the one-story house, to an eventual height
of almost five feet, they moved to the attic.
"Neighbors were screaming on both sides," Ms. Gomez said. "The homeless men
who sleep in the park across the street were screaming for help. I told my
husband we have to figure out a way to make a hole in the roof."
She eventually reached her son, who works with the Sheriff's Department, by
cell phone. "I told him I don't think we'll make it out of here," Ms. Gomez
said.
About 8 a.m. Saturday, a Houston Fire Department boat evacuated Ms. Gomez
and her family.
Today, they returned to find their home filled with mud and debris. As she
surveyed the damage, Ms. Gomez said: "I was raised in this house. I'm 54
years old. And I've never seen anything like this."
Christina Grosu
Shell Global Solutions [U.S.]
Fluid Flow & Flow Assurance - Project Analyst
ext-48116


At you convenience, please give me a call re Virginia Power.

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


Liz:

I'm interviewing at Constellation tomorrow and was planning to  use your name as a reference.  I'm sure you don't mind, but wanted to give  you a heads up.  The position is a regulatory attorney w/ David  Perlman.

Regards,

Andrew S. Katz


Start Date: 2/3/02; HourAhead hour: 15;  HourAhead schedule download failed. Manual intervention required.


I have spoken with  Sara re. amending our current Chase ISDA to reflect
rehypothecation. She is quite happy to move forward with this but requires
Credit's approval to amend the doc.

Additionally I have asked her to also look at the ISDA that Enron has with
Mahonia to ensure that our doc also permits rehypothecation. She is working
with Teresa Bushman on this.

Given that both docs require review, & amendments will require credit
approval, it will be beneficial for us all to meet to discuss any outstanding
issues. I have asked that a meeting be arranged early next week.to that end.

Regards,

Soma


lisa found this to pump us up
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/13/2001
10:39 AM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Def Leppard

Please forward to mitch and all others attending the Rodeo's concert of the
year.
---------------------- Forwarded by Lisa Gillette/HOU/ECT on 02/12/2001 05:54
PM ---------------------------

From:  Bryan Hull
02/12/2001 05:46 PM

To: Lisa Gillette/HOU/ECT@ECT
cc:

Subject: Def Leppard

Gotta love these guys....


can i read this at work dude?


Merry Christmas Everyone!


-----Original Message-----
From: 	Kitchen, Louise
Sent:	Monday, April 30, 2001 12:38 PM
To:	Killen, Faith
Subject:	Re: Metrics

Can you send the cover sheet too please

From:	Faith Killen/ENRON@enronXgate on 04/30/2001 12:25 PM
To:	Louise Kitchen/HOU/ECT@ECT
cc:

Subject:	Metrics

Hi Louise,
Hopefully this is what you requested. If you prefer the other presentation (by team as per the bound book Wes gave you) I can send that as well.

 -----Original Message-----
From: 	Hardy, Trey
Sent:	Monday, April 30, 2001 8:37 AM
To:	Killen, Faith
Subject:
Importance:	High


That's fine.  I don't need AEP.

 -----Original Message-----
From: 	Quezada, Daniel
Sent:	Wednesday, February 20, 2002 3:52 PM
To:	Germany, Chris
Subject:	FW: Request Submitted: Access Request 000000000083213

	You were not given access to AEP.

 -----Original Message-----
From: 	ARSystem <ARSystem@mailman.enron.com>@ENRON
Sent:	Wednesday, February 20, 2002 3:33 PM
To:	Quezada, Daniel
Subject:	Request Submitted: Access Request 000000000083213

This resource request has been rejected. You can view the details of the  request by clicking http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000083213&Page=MyReq.

Request ID          : 000000000083213
Approver Type       : Data
Signature           : tommy.j.yanowski@enron.com
Comments            : Chris should have access to Enron Estate portfolios only.  He should not need access to any AEP portfolios.
Request Create Date : 2/20/02 3:28:38 PM
Requested For       : chris.germany@enron.com
Resource Name       : Sitara Houston Production AEP Edit Trader
Resource Type       : Applications


FYI

 -----Original Message-----
From: 	"Edling, Andy" <Andy_Edling@kindermorgan.com>@ENRON
Sent:	Tuesday, November 20, 2001 1:35 PM
To:	Pollan, Sylvia S.
Subject:	NSS Storage Contract #114846

Sylvia, NGPL sent a letter to your attention dated 11/5/01 to notify you
that this contract is up for renewal (expires 6/2/2002) and Enron needs to
notify us by 12/5/01 if it wants to go thru the right-of-first-refusal
(ROFR) process.

This morning a revised letter was faxed in error which stated that the
notification date is now 12/31/01.

PLEASE DISREGARD THIS FAX!

I called and spoke with Lindsey Culotta since you are out today but I wanted
to make sure you got the word that you should disregard this fax and stick
with the original notification date as stated in the 11/5/01 letter.

Please call if you have any questions.

Andy Edling
Account Director
Natural Gas Pipeline Company
713.369.9306 - Tel
713.369.9305 - Fax
andy_edling@Kindermorgan.com


I stopped by several times today during my breaks.  Sorry I missed you.  I will be here on Friday.  See you then.

 -----Original Message-----
From: 	Grigsby, Mike
Sent:	Thursday, October 18, 2001 1:30 PM
To:	Bike, Anne
Subject:	RE: Wednesday's P/L

The Broker report looks incorrect to me.  Please stop by and we can go over some of the trades.

Thanks,
Mike

 -----Original Message-----
From: 	Bike, Anne
Sent:	Wednesday, October 17, 2001 10:41 PM
To:	Grigsby, Mike; Mike Grigsby @ Home (E-mail)
Cc:	Gossett, Jeffrey C.
Subject:	Wednesday's P/L

Mike:  Everything in the P/L looks good to me.  I have attached the cover sheet and the reconciliation.  The estimate was off on the gas daily curve shift because Monte Lost connection to Randy's files. This meant that on the estimate, the liquidated day was incorrect.  When I run it, we are much closer (within $20,000), but this is not the # you went home with.  This issue will be resolved tomorrow ensuring that the estimate will be more accurate.

The next largest item on the reconciliation is the transport model.  There is not one deal that stands out as the culprit.  I need to do some more investigating as to how to improve the transport model estimate.  It may be discounting.  The curves and the spreads are all accurate.

The status of the three items we discussed today are:

1. I am working away at the new deal model.  Kieth and I are in agreement as to the basic form.
2. I gave you the broker report.; and
3.  Jeff is working with confirmations to get you both the broker confirms and our confirms so that you can sign off on them.
3a. I am also working on the desk to desk physical report.  I was unable to run the report I initially had in mind.  I will let you know.

I am trying very hard to provide the information you need in a timely accurate fashion.  If you have any suggestions as to how Monte and I can improve, please tell me.

See you tomorrow.

Anne

 << File: newCurrentDay10_17_2001_MIKE.xls >>  << File: P&L_Mike.xls >>


This is a reminder of Enron's Email retention policy.  The Email retention policy provides as follows:

Message Location - Maximum Retention
Inbox - 30 days
Sent Mail Folder - 30 days
Trash/Deleted Items - Rollover from Inbox for one day
Folders - All Email messages placed in folders will be destroyed after one calendar year. This includes public folders in Outlook.

Furthermore, it is against policy to store Email outside of your Outlook Mailbox and/or your Public Folders.  Please do not copy Email onto floppy disks, zip disks, CDs or the network.  Such actions are prohibited and will not be supported by the IT Department.

There will be no exceptions to this policy.


The change as to Japan and Australia, as you know, was expected.

I would like to discuss with you the legal support for these offices. I would
then think we would want to have a discussion with Mark Evans to make sure we
are all on the same page.

Alan.
----- Forwarded by Alan Aronowitz/HOU/ECT on 09/07/2000 08:54 AM -----

	Office of the Chairman@ENRON
	09/06/2000 05:10 PM

		 To: All Enron Worldwide
		 cc:
		 Subject: Organizational Changes
 Office of the Chairman
In support of Enron,s continuing efforts to increase its return on invested
capital and direct resources towards our highest return businesses, David
Haug, Chairman and CEO of Enron CALME, Jim Hughes, President and COO of Enron
APACHI, Joe Kishkill, Managing Director of Enron South America, and Frank
Stabler, formerly a Managing Director of Enron CALME, will join Mark Metts in
a corporate wide effort, to help monetize some of Enron,s assets.  David will
help transition the CALME business activities into other parts of Enron while
working with Mark on the asset monetization projects.  David will continue as
an Executive Vice President for Enron Corp and a member of Enron,s Executive
Committee.  Cliff Baxter will oversee this effort.

Consistent with these changes, the CALME group will be divided as follows.
Enron Global LNG and Enron,s Caribbean Basin activities will become part of
the new Enron Global Markets (EGM) group headed by Mike McConnell.  Rick
Bergsieker, President/COO of LNG will continue in that role and in his dual
role as President/COO of Enron Middle East, which will also join EGM. Shawn
Cumberland, President and COO of the Caribbean Basin unit and his executive
team will carry out the transition process for the Caribbean business unit's
people and businesses as part of EGM.  Management of its Colombia and
Venezuela businesses will transfer to Enron South America and its LNG-related
activities to EGM as described above.

The EES related initiatives and people will be transferred to those units.
All of the various international businesses will participate as usual in the
upcoming budget process with their new alignment and continue to meet their
plan targets for 3rd and 4th quarters.

Concurrently, we are consolidating our trading and merchant activities in
Japan and Australia into Enron Europe.  Joe Hirl and Paul Quilkey will report
to Enron Europe,s Office of the Chairman.

We congratulate David Haug and Rebecca McDonald for proposing these
realignments, which we agree, will maximize both the financial and
intellectual capital in Enron.  Over the coming weeks, specific assignments
and reporting relationships will be determined and communicated.


Mary Solmonson, one of my direct reports, has been out of the office since
March 1, 2001 and it is not readily known when she will return to work.  All
business voice mail messages require a prompt response from our business
unit.  Therefore, I am requesting your assistance in completing the following
tasks:

1)  Please grant Vanessa Schulte access to Mary Solmonson's voice mail so
that she change the access code for retrieving messages so that she can
review any incoming voice mail messages and deliver appropriate business
responses.

2)  Please work with Vanessa Schulte on the process of forwarding all
incoming calls on Mary Solmonson's line (713-853-6079) to Vanessa's line
(x35565) if she so chooses.  She may prefer the ability to check voice mail
messages on Mary's line to having Mary's line automatically forwarded to her
line.  If she chooses not to forward Mary's line to hers, she will create a
new message on Mary's line that can direct callers to Vanessa.

Thanks in advance for you help on this.


Attached please find the Hours Survey and Instructions for the month of May,
2000.

I am sending the survey out this time as an opportunity to introduce myself
to those of you I have not yet met.  I am being asked to take a direct roll
in the further development and rollout of the Operations Pricing Model (fka
Transaction Cost Model).  In the past, I have directed the implementation of
several pricing systems based on activity based costing similar to the
Operations Pricing Model (OPM).  Over the past couple of weeks my
observations of the Model have lead me to be concerned with the quality of
data used in the model.  It will take efforts by both you and the OPM team to
get to a satisfactory level of data quality.  This process can start with
this months data collection efforts.  Please pay particular attention this
month as the "bar is being raised" by the management of Energy Operations for
data quality and timeliness.

While completing the survey, take this time to review last month's numbers.
Please return these surveys to Shari Mao by end of day Friday, June 2.

Please note the following changes:
The Nat Gas RC's will now see deal validation and transportation rate
activities therefore, these surveys will be notably longer but will not
necessarily take more time

If the survey does not contain an activity that your team spends time on,
PLEASE DO NOT TYPE ANY ACTIVITIES IN THE SURVEY.  Contact Jennifer Reside at
#35971 to discuss how to proceed.

If you have any questions relating to the model or this survey, or are unable
to meet the survey due date, please call Jennifer Reside at #35971 (Shari is
on vacation this week).


====================================================
from Gilder Publishing
THE FRIDAY LETTER
e-mailed weekly, for friends and subscribers
====================================================
| www.gilder.com |

Issue 10.0/June 1, 2001

HEADLINES:

* Better Medicine -- Cheaper?Faster?Smarter?
* The Week/Asterisk for Alan?
* In The Digital Power Report/Photon Power
* In New Economy Watch/Opportunity Knocks
* Friday Feature/Money For Nothing
* Poll Question/Is Television Toast?
* Readings
* Conference Calendar
~~~~~~~~~~~~~~~
BETTER MEDICINE -- Cheaper?Faster?Smarter?

Have you been wondering how you will benefit from the latest medical
discoveries?the human genome project?proteomics?and other increasing
complex bio-medical developments?  Then join Gilder's newest analyst, Dr.
Scott Gottleib for a look at the market prospects in a half hour live
webcast Tuesday June 12th at 2 pm.  There is no fee to attend this
webcast.

Dr Scott Gottlieb is a physician and former Wall Street health care
analyst. He completed his medical degree at the Mount Sinai School of
Medicine, where he did research on enzyme deficiencies utilizing
transgenic mice, and continued his medical training in internal medicine
at the Mount Sinai Hospital, New York where he now practices.

Please join us! For more information, please go to http://www.gilder.com/

~~~~~~~~~~~~~~~
THE WEEK/Asterisk for Alan?

"In 1961, Roger Maris hit 61 home runs to break Babe Ruth's 1927 record.
Unfortunately, it took him eight more games than Ruth. For the next thirty
years, an asterisk differentiated his record from Ruth's 60 home run
total, denying Maris the satisfaction of his accomplishment.

"Today, as Alan Greenspan winds down his career, his otherwise stellar
record is threatened with an asterisk as well. After a record-breaking
recovery, high-tech stocks have crashed, the economy is closer to
recession than it has been in over a decade, and many think that inflation
is returning.

"The Fed has cut rates faster in 2001 than at any time since 1982, when
the economy was in the worst recession since the Great Depression and
inflation was rising at double-digit rates. Greenspan is managing the
economy on the run, reacting to economic developments, not anticipating
them. After years of seeming in control, the Fed looks out of control."

Brian Wesbury updates the Greenspan legacy in The American Spectator's
June issue. Read the full text at www.gilder.com, and subscribe online at
50% off the annual cover price.
~~~~~~~~~~~~~~~~
IN THE DIGITAL POWER REPORT/Photon Power

"Low-power lasers can handle most bit-moving, think-and-see applications
just fine. Indeed, too much power becomes a problem when the objective is
to send a beam through the very narrow core of a strand of glass, or down
to the micron-sized pits on a compact disk. But our economy moves atoms,
too, and atoms are a lot heavier than bits. If it's powerful enough,
highly ordered light lets us move atoms--stuff--a million times better
than the old tools of the thermal and mechanical world. It permits
ultra-fine heating, soldering, drilling, cutting, and materials
processing, with fantastic improvements in speed, precision, and
efficiency. Nothing can move atoms more finely than photons can.

"Highly ordered light has already transformed the think/see
telecommunications legacy of Alexander Graham Bell. The industrial
legacies of Thomas Edison, George Westinghouse, and Henry Ford come next.
The move laser is destined to become as ubiquitous in the atom-moving
economy as its low-power counterpart already is in CD players and desktop
printers. The second photonic revolution is at hand."

Peter Huber and Mark Mills go photonic in June's Digital Power Report,
posting online next week. Subscribe now or log in at
www.digitalpowerreport.com.
~~~~~~~~~~~~~~~~~
IN NEW ECONOMY WATCH/Opportunity Knocks

"It took Microsoft's antitrust trial to convince Silicon Valley that
Washington DC had not already lapsed into the irrelevance it may well
someday achieve. That's clearly not the case at Enron, where CEO Ken Lay
(a former official of the old Federal Power Commission, it's worth noting)
isn't given to underestimating either the sharpness of political teeth or,
more importantly, the potential gold mines in deregulation. Lay was the
2000 Bush campaign's largest single contributor, which undoubtedly had
nothing whatsoever to do with the half-hour chat he got with Dick Cheney,
just as the Vice President was putting together the White House's new
energy initiative. Top of Lay's agenda: creation of an open national
electricity grid, where a markets-based innovator like Enron can skate
rings around entrenched local and regional utilities. No prizes for
guessing what's front and center in the Bush administration's energy
plans.

"But all that said, ENE's roller-coaster performance over the past six
months shows the kinds of curve balls that regulation (or in this case,
the mere threat of it, from California) can throw. And the energy circus,
for that matter, is a walk in the park compared with the professional
wrestling underway in telecom, featuring Beltway heavyweights such as
Austin-based SBC, the rest of the Baby Bells and AT&T, all demanding their
(often mutually exclusive) due. Rookie FCC referee Michael Powell is
making all the right deregulatory noises. What he needs now is Jesse
Ventura."

June 2001's New Economy Watch is hitting mailboxes now, featuring Jeff
Stambovsky on telecom debt and wide-ranging insights from across the
investment landscape. Subscribe now at www.neweconomywatch.com.
~~~~~~~~
FRIDAY FEATURE/Money For Nothing

In  those famously heady days of 1999, first-day IPO run-ups left an
amazing $37 billion "on the table"--in the pockets of those lucky enough
to get a pre-market share allotments, rather than in the coffers of the
companies ostensibly raising money to fund their future growth. In the
first six months of 2000, another $20 billion followed--roughly twice what
the underwriters earned in fees, and an infinite multiple of many of the
issuers' actual earning prospects. Divide that by various burn rates, and
a lot of now-famous belly-ups might still be around.

"Money on the table" has fuelled much gnashing of investor teeth, and
plenty of conspiracy theories as well. It's also the raison d'etre for our
good friends at W.H. Hambrecht & Co, whose Dutch auction-style IPO
underwriting is getting renewed attention in today's more
efficiency-conscious markets. In "Why Don't Issuers Get Upset About
Leaving Money on the Table in IPOs?"  Notre Dame's Tim Loughran and Jay
Ritter of the University of Florida run the numbers on the whole amazing
business, and offer some theories about why it won't be going away anytime
soon. Download the full monograph at
http://bear.cba.ufl.edu/ritter/parnov.htm.

(A tip of the hat to our friend and FT columnist Peter Martin for spotting
the report. Kudos as well to the excellent Review of Financial Studies
Online, a treasure trove of investment-related research available free at
http://www3.oup.co.uk/revfin/contents/.)
~~~~~~~~~~~~~~~~~~~~~~
THIS JUST IN/Gilder.com Poll Results 16 May-1 June 2001

Question: Is television toast?

Yes: 55%
No: 45%

Up next: Do you own AT&T? Lucent? Weigh in at www.gilder.com.
=-=-=-=-=-==-=-=-=-=advertisement =-=-=-=-=-=-=-=-=
Get a FREE Trial Issue of Forbes! Special online offer--click on the URL
below to order today.

https://commerce.cdsfulfillment.com/FRB/subscriptions.cgi?IN_Code=IK03FTA
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READINGS

Chairman Powell Speaks
www.ft.com/fcc

Lucatel Deal Goes South: "Optics" Uber Alles
http://www.nytimes.com/2001/05/31/technology/31LUCE.html
(registration required)

Bell Labs: Still Brilliant After All These Years
http://www.nytimes.com/2001/05/30/technology/30BELL.html
(registration required)

Hot Ticket: ATT Broadband
http://www.inside.com/jcs/Story?article_id=31901&pod_id=13

Breaking Up Is (Siill) Hard To Do
http://www.msnbc.com/news/578467.asp

Vodafone: Too Good To Be True
http://www.nytimes.com/2001/05/30/business/30PLAC.html?searchpv=day01
(registration required)

DoCoMo's 3G (Barely) Airborne
http://www.thestandard.com/article/0,1902,26756,00.html?nl=mg

Wa's Up? Steven Levy in Cyber Japan
http://www.msnbc.com/news/578408.asp

Mutually Assured Destruction: Interactive TV
http://www.economist.com/business/displayStory.cfm?Story_ID=631675
(registration required)

Symbian: Not Over Til The Opera Sings
Http://www.internetworld.com/news/archive/05292001b.jsp

IBM Quadrupling Disk Space
http://www.cnn.com/2001/TECH/ptech/05/22/ibm.disk.idg/index.html

L.E.D.s Go Organic
http://www.nytimes.com/2001/05/31/technology/31NEXT.html
(registration required)

Mister Softee for Hire
http://interactive.wsj.com/articles/SB991262507858687130.htm
(subscription required)

Streaming Media Wars
http://cnnfn.cnn.com/2001/05/30/technology/aol/

More Moore's Laws
http://www.nytimes.com/2001/05/27/technology/27FIVE.html?ex=992146996&ei=1&en=9cfaae1f195d5f67

(registration required)

Pocket Picking on Wall Street
http://www.economist.com/finance/displayStory.cfm?Story_ID=635389
(registration required)

Tech Bonds Rock
http://interactive.wsj.com/articles/SB991247888963735777.htm
(subscription required)

The Napsterization of Mutual Funds
http://www.efinanceinsider.com/email53101.htm

Tax Bill Bonus: Computer Write-offs
http://www0.mercurycenter.com/business/top/007362.htm

NSA: Hearing Aids Wanted
http://interactive.wsj.com/archive/retrieve.cgi?id=SB990563785151302644.djm&template=pasted-2001-05-23.tmpl

(subscription required)

ET Home Hacked!
http://www.space.com/searchforlife/setihome_cheats_010524.html

Hormel Gives Up on Banning "Spam"
http://www.wired.com/news/business/0,1367,44111,00.html

You've Got Madonna!
http://www.nytimes.com/2001/05/31/arts/31POPL.html
(registration required)
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----- Forwarded by Tana Jones/HOU/ECT on 08/16/2000 05:23 PM -----

	Bradley Diebner
	08/16/2000 05:14 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia
Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global
Contracts and Facilities, Enron Europe Global CounterParty, Stephanie
Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Claudia Clark/HOU/ECT@ECT
		 cc:
		 Subject: EOL Credit Responses 08/16/00

The EOL approvals for 08/16/00 are attached below.

Regards,
bd


I set it as my new wallpaper.  The file was too big - SU wouldn't let it come
in.


_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp

 - 11-21 0900 Report.xls


-----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Monday, October 22, 2001 11:59 AM
To:	Kitchen, Louise; Dietrich, Janet; Delainey, David; SMITH, Douglas; Lavorato, John; Black, Don; Forster, David; Duran, W. David; Belden, Tim; Calger, Christopher F.; Foster, Chris H.; Black, Tamara Jae; Aucoin, Berney C. ; Furrow, Dale; Meyn, Jim; Harvey, Claudette; Presto, Kevin M.; Jacoby, Ben
Subject:	FW: RTO week--State Commissioners

FYI.

TJ and Claudette -- please send to your groups.
Thanks

 -----Original Message-----
From: 	Landwehr, Susan M.
Sent:	Thursday, October 18, 2001 6:19 PM

Thursday Morning session----Meeting with State Commissioners

This session was generally known to be the occasion for state commissioners to vent their frustrations at FERC taking action without including them in the decision making process.  Although the panel notice showed that 5 state commissioners would attend, upon arriving in the hearing room we found that 27 state commissioners were there and ready to claim their 15 minutes of fame.  It was a long morning!  I will include comments or highlights from some of the commissioners below as well as some general thoughts.

Approximately 35 to 40% of the commenters were supportive of FERC and urged them to keep moving forward with their efforts.  Most of these comments came from the Midwest and were somewhat muted or rational in their support.  Everyone else was fairly verbal against FERC, primarily citing that fact that they had been left out of the process, that FERC was moving too quickly, and there was no evidence that there was a benefit to their citizens.  In particular, the commissioners from Maryland and North Carolina delivered highly charged rhetoric. While many would think that the session was extremely negative (our friend Sarah Novosel thought it was disgusting!) in my mind it was similiar to a legislative hearing--allowing alot of whining and then addressing the main themes of discontent such as performing a cost benefit analysis.

Here's some individual comments:

Catherine Riley/Maryland---she started out talking about the fact that she had taken a solemn oath to uphold the constitution when she joined the MAryland commission and immediately implied that FERC was not as diligent or honest as she was in upholding the values of protecting citizens (she was way overboard in the dramatics department).  She then stated that she was not at the meeting to "help you (FERC) backfill your woefully inadequate evidentiary record".  It went on like this for about 15 minutes.  The good part is that she was so personally negative, that her comments will not only be discounted but may be used against her.

Sam Ervin/NOrth Carolina---he was also very negative and he does not believe that there are any benefits to his citizens, that customer choice is never coming to his state, so he will never benefit from an RTO, that his current statutes do not allow any transfer of transmission to an RTO (and I bet if they do, he'll work to change the statutes!) and that the bulk of state commissions are not supportive of FERC. His comments were also pretty brutal, but sugar coated just a bit with southern humor.

Arnetta McRae/Delware---she kept on saying "show me" where the benefits for consumers are.  She also repeatedly talked about how short of a time frame they had to respond to the order.

Rory McMinn/New Mexico---repeatedly talked about how the west was different, how he is not convinced that there is a benefit to his consumers, how the FERC commissioners needed to come out west to see how different they were.

Carl Wood/California--tried to portray himself and California as representing the west as a whole, and even brought along a statement from the Washington commission echoeing his comments. He delivered the same messages that we've been hearing forever---FERC should have acted sooner on price caps, etc etc.

Glen Thomas/Pennsylvania---he was the first positive commenter and talked about how his state has taken great strides to bring it's energy system into the new century...that by opening it's markets they have had an explosion in green power, they have reduced costs all across the state, etc. He was very supportive of PJM (makes sense because it's in his back yard) and stated that for any RTO to be effective it must have independent governance.

Judy Jones/Ohio---was very parochial in her discussion, but echoed Don Svanda's comments from earlier in the week that one RTO for the midwest was necessary and encouraged the FERC to make a decision and get on with it so that regulatory uncertainty would be removed.

Ed GArvey/Minnesota---he got the gold star for the day.  After very very lengthly comments from about 15 commissioners, he took about 1 minute and said "FERC--just get it done"....in essence telling them to go ahead with what they are doing and move forward.

Other Commissioners who talked were:  Arthur/Connecticut, Hadley/Indiana, Huelsman/Kentucky, Nugent/ Maine  all on the positive side.  Other negative commentors were two guys from DC and Jim Irvin from Arizona who had a rambling conversation that never really pinpointed what he wanted to do.

From the FERC commissioner standpoint, the gold star went to Massey.  After hearing over and over again about how the commisioners didn't feel that they had been included and that FERC had not consulted them enough, he stated that he was going to express his frustration right back, saying the "there has been 7 years of process, and he wants a process that comes to an end....you've been talking for 7 years and never could agree..."

Call me if I can provide any further insights into the individual comments or the tenor of the meeting.  Sue.  #612-339-4599


Yes Steve Kean will be able to come to DC for the Feb 6 mtg.  I will
rearrange his calendar to make it work.  I will let you know his itinerary as
soon as I have finalized it.

	Tom Briggs
	01/25/2001 12:55 PM

		 To: Steven J Kean/NA/Enron@Enron, Maureen McVicker/NA/Enron@Enron
		 cc:
		 Subject: Minister hain

Steve,

If you are available, the new UK Energy Minister Peter hain has asked to meet
with Enron at 3pm on 6 February here in our DC offices.  If you or another
senior Enron official cannot make it or do not want to make it, please let me
know ASAP as I will scratch the date from his diary.  Schroeder thought it
would be useful for you to do it.


Sam:

Yesterday morning I needed to locate the latest ENA consent for authorized
trading.
Is it possible for you to keep a current set of these resolutions in a
labelled notebook where everyone can access at all times?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


There is a 30 minute meeting every morning on the 28th floor at 8:30 about
systems issues from the prior night and to discuss what books were not
officialized.  I have gone to this meeting this week, and I think that we
should always have a representative in the meeting.  Here is what I propose:
We alternate weeks going to this meeting.

Week of :
Dec. 4   - Jeff Gossett
Dec. 11 - Darron Giron
Dec. 18 - David Baumbach
Dec. 25 - Will Kelly
Jan. 1    -  Kam Keiser
Jan. 8    - Errol Mclaughlin

And then we will start over again.
If you can not go,  make sure that someone goes in your place.

Thanks

Irena and Elizabeth -  Can you please add these daily meetings to the
appropriate calender?

Thanks


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/22/2000
05:02 PM ---------------------------

Sandeep Kohli@ENRON_DEVELOPMENT
12/21/2000 04:33 AM
To: Vince J Kaminski@ECT
cc: Pinnamaneni Krishnarao@ECT
Subject: LNG Hedging

Vince,

FYI.  This is something the team has been working on with Krishna.

Regards,
Sandeep.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
12/21/2000 04:03 AM ---------------------------

Sandeep Kohli
12/21/2000 04:00 PM
To: James A Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: LNG Hedging

Jim,

I am attaching below a small draft note prepared by Anshuman on LNG hedging.

It talks of two products:
(1) Volumetric Options (where we buy a call on 100% of the volumes and sell a
put on 50% of the volumes to finance the call), and
(2)  Ratio Derivative where we buy two calls at a higher price, and sell one
at a lower price to finance it.  This is not one that the traders agree to,
since at the upper price, the calls bought are just at the money, while the
sold call is in the money, and will cost the seller.

Hence, only Option 1 is useful.  It could provide risk mitigation in the high
price scenario, while allowing some participation in low prices.  To test it,
we used March 2001 period.  To have it cost neutral, we would buy a call at
$26, and sell the put at $25.15.

As we bounce these ideas, I think it is very important that we work closely
with the Global Markets group.  The team on the ground knows the contracts
better, and maybe able to give you insights on what can be sold to MSEB.

Would love to discuss the same with you.

Regards,
Sandeep.


Melanie Gray
713-546-5045


Are you and Herman ok with this?

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/11/2001 12:46
PM ---------------------------

Scott Laidlaw@ENRON_DEVELOPMENT
04/11/2001 12:37 PM
To: redelman@roe.com, emiller@roe.com
cc: Renee Alfaro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Golden/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay Mann/Corp/Enron@Enron, Bob
Carter/HOU/ECT@ECT, Carlos Sole/NA/Enron@Enron, Kathleen
Carnahan/NA/Enron@Enron

Subject: coal initiative - request for short fuse support

burns & roe - greetings.

our understanding is that our current PSA with you has lapsed.
however, ms. renee alfaro has sent an extension letter to extend that PSA.
at this time, enron's position is that we are unable to use the
lapsed/extended PSA for work on the coal initiative - i.e., accounting rule
requirements.

however, we'll be sending you soon a cc of a PSA that is compliant with our
off-balance sheet accounting requirements.  plz stay tuned.

but, in the interim, let's get started on the "short fuse" request for info
from enron using just a tasking letter with a not-to-exceed without prior
approval price of $10,000 and a commitment from enron to pay said related
invoice(s).

attached is a copy of the tasking letter that we discussed on the phone.  plz
sign, date and return fax this tasking letter back to me.  upon receipt, i'll
sign, date and fax you back a record copy.

plz call with any questions.

regards.  scott.


Sally,

Thanks. The name of the person is at the bottom of this sequence of messages.

Vince

	Enron North America Corp.

	From:  Sally Beck                           01/05/2001 09:27 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Benchmarking Study

I passed this information along to some of my direct reports for their
thoughts, and truthfully didn't hear back from anyone and didn't follow up.
Two years ago, we agreed to be part of a benchmarking study that was done by
AA's Houston office (interestingly enough, Wes Colwell was the AA partner who
led this effort) and we had mixed results.  The study was designed to cover
gas and power.  Despite our involvement in the steering committee, the study
itself was very, very detailed, such that it was troublesome to complete.
Jim Fallon at the time refused to submit information on the majority of the
questions surrounding power, so our survey data for power was not very
useful.

I would agree that at this time we will pass on this request.  Thanks for
passing it along, however.  I would be happy to convey this directly  to the
person that has contacted you.  Just let me know his/her name and number and
I will follow through on that if you would like.

Hope that your holidays was enjoyable and that the new year will be a good
one for you.  --Sally

Vince J Kaminski
01/03/2001 03:29 PM
To: Sally Beck/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Benchmarking Study

Sally,

I gave you some time ago a brochure on this benchmarking study request.
They renewed their request for Enron's participation.

What is your view on this? Do you think the benefits of knowing what's
going on offset the loss due information released and time spent on the
project.

My recommendation is to forget it.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/03/2001
03:28 PM ---------------------------

"Theresa Sanders" <TSanders@eei.org> on 12/27/2000 01:32:18 PM
To: <vkamins@enron.com>
cc:
Subject: Benchmarking Study

Dear Vince,

Peter Nance and I wanted to follow-up our discussion of Enron's participation
in our benchmarking study.  Have you discussed Enron's participation in the
project with your colleagues?

Here is a small sample set of metrics that were taken from a comprehensive
list of over 700 metrics.  The study group will decide which metrics to use.

With EEI's credibility and Teknecon's technical expertise, we intend to
become the industry standard in benchmarking.  We would very much like to
have Enron participate in the study.

I would be happy to set up another meeting with you and your colleagues with
Peter Nance if you think that would be helpful.

Best regards,

Theresa Sanders
Director of Business Development
Alliance of Energy Suppliers
Edison Electric Institute
Tel: 202-508-5183

 - EEI metrics-short list.xls
 - ebrochure.doc
 - RiskBenc.ppt


ENRON ADMITS IT'S REALLY ARGENTINA
Now Massive Ineptitude, Corruption Make More Sense, Analysts Say
Houston, Texas - Collapsed due to gross mismanagement and insurmountable
debt, energy company Enron today confessed to what many observers had
long suspected: it is actually Argentina.
Congressional leaders, who have called for an investigation into the
biggest corporate failure in U.S. history , immediately dismissed
Enron's claim, but Argentinians weren't so sure. "The shady deals. The
crazy debt. I knew there was something familiar about those guys," said
Banco del Argentina director Ernesto Caballo.
Enron chairman and CEO Kenneth Lay, speaking through an interpreter via
phone from Buenos Aires, apologized for any confusion the subterfuge may
have caused, and noted that as a sovereign nation, the company was
immune from U.S. prosecution. Lay also insisted that he had not "fled"
to Argentina, but had returned home to the capital to visit "mi
familia."
While not directly stating it, Lay also hinted that he might in fact be
Argentinian President Fernando de la Rua. Reached in Buenos Aires, de la
Rua admitted he couldn't rule that out. "Things are pretty crazy around
here. Who can say?"
But Enron creditors, clients, and shareholders, who stand to lose
billions over their exposure to the company, weren't buying any of it.
"While they may act like it, they are not a South American country, and
Ken Lay is not the President of Argentina," declared J.P. Morgan Chase
spokesman Alex Firtilly. "They are a malfeasant U.S. corporation that
has potentially caused us to lose $500 million. And Ken Lay is from
Missouri."
"?Como?," Lay replied. "No hablo Ingles."
Recently ranked as high as No. 7 on the Fortune 500 list of the largest
U.S. companies, Enron literally ran itself into the ground  by fudging
its books, making secretive deals that enriched company insiders, and
relying too heavily on debt. Though it was formed in 1986 with the
merger of Houston Natural Gas and InterNorth, Enron became Argentina
only recently, said Lay, "on the advice of our attorneys."
That counsel came none too soon. As a South American state, all pending
U.S. and European lawsuits are rendered harmless. And the company
escapes what had been a daily fusillade of scorn from its former home.
Indeed, much as the French were baffled by America's obsession with
President Clinton's sexual affairs, many South Americans say they don't
understand why Enron and its leaders have been vilified. As former
Colombian President Ernesto Samper explained: "In the United States, you
look at corruption as an abomination We look at it as an art."
EXTRADITION DENIED
The U.S. State Department has refused to recognize Enron as Argentina,
and a spokesman said the Bush administration has officially requested
the extradition of Lay and the officers who allegedly fled with him.
Argentina, however, denied the request, explaining that an entire
country cannot be extradited. And besides, they added, Lay had pledged
to help pay off the nation's $132 billion debt.
Asked where the bankrupt Enron got such a sum, Lay explained that after
proclaiming its nationhood status, the company had received an emergency
IMF loan. An IMF spokesman later confirmed the payment.
"From what we knew of their fiduciary practices, Enron appeared to have
all the hallmarks of a typical IMF fundee," said IMF communications
director Nestor Svingen. "At first, we did balk when they asked for $232
billion, but when they explained that some of the money would go to
repay overdue IMF loans, we thought, 'Oh, that's all right then.'"
"Not that we actually expect to see any money from anyone," Svingen
added. "It's just this little game we all play. Great fun if you like
numbers. Do you enjoy quadratic equations? I could do them all day."
Asked what Enron/Argentina had pledged to do with the extra $100 billion
it requested, Svingen said the application had specified funding for
"civic infrastructure improvements."
"That usually means the president is going to build a palace," Svingen
explained.


Jeff / Michelle,

Here's the Daily Update for the 5th ...
Despite all those irons in the fire you have right now, hope you both
get a chance to enjoy your weekend.

Suzanne

 - IGSUpdate.xls


I have redone the attached list to open up Equitable for everything but
physical power.


-----Original Message-----
From: 	Crenshaw, Shirley
Sent:	Thursday, October 25, 2001 2:15 PM
To:	Black, Tamara Jae; Rangel, Ina; Coneway, Betty J.
Subject:	Presentation Announcement

Hello everyone:

Would you please forward this announcement to your groups?  I really appreciate your help!

Thanks!

Shirley Crenshaw

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

You are invited to attend the following presentation:

PSIM: A Power Simulation Tool

PSIM is a proprietary model developed by Enron Research Group.

?	It takes Power, Gas, Weather and demand information into consideration and
	uses Monte-Carlo simulation to assess the expected deal value and risk distribution.
?	It evaluates complex electricity related contracts such
as Full Requirement  and load following contract.
?	It also provides a valuation tool for power assets and asset management deals.
?	It works for both deal specific or portfolio issues.

In this presentation we will show how the model can be used to deal with various types
of contracts, explain the model structure and point out further applications.

Date:		October 30, 2001
Time: 	4:00 pm
Location: 	EB5C2
Presenter: 	Alex Huang

Registration is required for a head count.
Please call Shirley Crenshaw at 3-5290 to register.

Pizza and soft drinks will be served.


Make sure we attend these sessions.
---------------------- Forwarded by Kevin M Presto/HOU/ECT on 12/11/2000
05:11 PM ---------------------------

Felicia Doan
12/11/2000 05:07 PM
To: Rudy Acevedo/HOU/ECT@ECT, Diana Allen/Corp/Enron@ENRON, Russell
Ballato/NA/Enron@Enron, Ted Ballinger/NA/Enron@Enron, Don
Baughman/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Corry
Bentley/HOU/ECT@ECT, Robert Benson/Corp/Enron@ENRON, Tamara Jae
Black/HOU/ECT@ECT, Lisa Burnett/Corp/Enron@Enron, Paul J
Broderick/HOU/ECT@ECT, Richard Broussard/Corp/Enron@Enron, Larry
Campbell/ET&S/Enron@ENRON, Mike Carson/Corp/Enron@Enron, Jason
Choate/Corp/Enron@ENRON, Lawrence Clayton/Corp/Enron@Enron, Kevin
Cline/Corp/Enron@Enron, Terri Clynes/HOU/ECT@ECT, Keith
Comeaux/Corp/Enron@Enron, Karla Compean/HOU/ECT@ECT, Kayne
Coulter/HOU/ECT@ECT, Jason Crawford/Corp/Enron@Enron, Mike Curry/HOU/ECT@ECT,
Oscar Dalton/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Clint
Dean/Corp/Enron@Enron, Todd DeCook/Corp/Enron@Enron, George
Diaz/Corp/Enron@ENRON, Felicia Doan/HOU/ECT@ECT, Chris Dorland/HOU/ECT@ECT,
Tom Dutta/HOU/ECT@ECT, Joe Errigo/Corp/Enron@Enron, David
Fairley/HOU/ECT@ECT, Miguel L Garcia/NA/Enron@ENRON, Gerald
Gilbert/HOU/ECT@ECT, Doug Gilbert-Smith/Corp/Enron@ENRON, Joe
Gordon/Corp/Enron@Enron, Gautam Gupta/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT,
Brent Hebert/HOU/ECT@ect, Juan Hernandez/Corp/Enron@ENRON, Rogers
Herndon/HOU/ECT@ect, Wayne Herndon/Corp/Enron@ENRON, George
Hopley/HOU/ECT@ect, Jim Homco/HOU/ECT@ECT, Richard Hrabal/HOU/ECT@ect, Rika
Imai/NA/Enron@Enron, Alton Jackson/Corp/Enron@Enron, Larry
Jester/Corp/Enron@ENRON, Gary Justice/NA/Enron@Enron, Mike E
Kelly/NA/Enron@Enron, Grace Kim/NA/Enron@Enron, Jeff King/Corp/Enron@Enron,
John Kinser/HOU/ECT@ECT, Madhup Kumar/Corp/Enron@ENRON, Dean
Laurent/HOU/ECT@ECT, Justin Laverell/Corp/Enron@ENRON, Chris
Lenartowicz/Corp/Enron@ENRON, John Llodra/Corp/Enron@ENRON, Matt
Lorenz/HOU/ECT@ECT, Gretchen Lotz/HOU/ECT@ECT, Peter Makkai/NA/Enron@Enron,
Dave Mangskau/Corp/Enron@ENRON, Posey Martinez/HOU/ECT@ECT, Tom
May/Corp/Enron@Enron, Keller Mayeaux/Corp/Enron@Enron, Doug
Miller/Corp/Enron@Enron, Jeffrey Miller/NA/Enron@Enron, Narsimha
Misra/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Steve
Olinde/Corp/Enron@Enron, Andy Pace/NA/Enron@Enron, Juan
Padron/NA/Enron@Enron, Ricardo Perez/NA/Enron@Enron, Joseph
Piotrowski/NA/Enron@Enron, Laura Podurgiel/HOU/ECT@ECT, Kevin M
Presto/HOU/ECT@ECT, Cyril Price/HOU/ECT@ECT, Joe Quenet/NA/Enron@Enron, Mitch
Robinson/Corp/Enron@Enron, Bill Rust/HOU/ECT@ECT, David
Ryan/Corp/Enron@ENRON, Eric Saibi/Corp/Enron@ENRON, Zachary
Sampson/NA/Enron@ENRON, Anna Santucci/NA/Enron@Enron, Janelle
Scheuer/HOU/ECT@ECT, Kyle Schultz/HOU/ECT@ECT, Erik Serio/Corp/Enron@Enron,
Doug Sewell/HOU/ECT@ECT, Robert Stalford/NA/Enron@Enron, Chad
Starnes/Corp/Enron@Enron, Joe Stepenovitch/Corp/Enron@Enron, Mark
Symms/Corp/Enron@ENRON, Ramanarao Tamma/NA/Enron@Enron, James E
Terrell/HOU/ECT@ECT, Garrett Tripp/TOR/ECT@ECT, Greg Trefz/Corp/Enron@ENRON,
Larry Valderrama/HOU/ECT@ECT, Maria Valdes/Corp/Enron@Enron, Jewell
Wade/NA/Enron@Enron, Joseph Wagner/NA/Enron@Enron, Christopher
Watts/NA/Enron@Enron, Lloyd Will/HOU/ECT@ECT, Jay Wills/Corp/Enron@ENRON,
George Wood/Corp/Enron@Enron, Richard Broussard/Corp/Enron@Enron, Keith
Comeaux/Corp/Enron@Enron, Jason Crawford/Corp/Enron@Enron, George
Diaz/Corp/Enron@ENRON, Brent Hebert/HOU/ECT@ect, Jim Homco/HOU/ECT@ECT, Alton
Jackson/Corp/Enron@Enron, Justin Laverell/Corp/Enron@ENRON, Chris
Lenartowicz/Corp/Enron@ENRON, Steve Olinde/Corp/Enron@Enron, Mitch
Robinson/Corp/Enron@Enron, Erik Serio/Corp/Enron@Enron, Felicia
Doan/HOU/ECT@ECT, Paul D Thomas/NA/Enron@Enron, Alan Chen/Corp/Enron@Enron
cc:
Subject: Vendor Demos for ERCOT ISO

There will be Vendor Demos for ERCOT ISO on the following days:

Day/Date  Time   Vendor Name    Location

Tuesday, 12/12  9AM - 11:30AM  Altra/Majors Caldwell   EB3125B
Tuesday, 12/12  3PM - 5PM  Structure Consulting/Loen Winstead EB3125B
Wednesday, 12/13 9AM - 11:30AM  Alston ESCA/Lawrence Ferry  EB3125B
Thursday, 12/14  9AM - 11:30AM  ABB/David L'Anson   EB3125B

If you need additional information, please contact Madhup Kumar at ext.
3-0608.

Many Thanks,

Felicia
for Madhup Kumar

---------------------- Forwarded by Felicia Doan/HOU/ECT on 12/11/2000 04:51
PM ---------------------------

Madhup Kumar@ENRON
12/08/2000 12:32 PM
To: Lloyd Will/HOU/ECT@ECT, Thresa A Allen@ECT, Corry Bentley/HOU/ECT@ECT,
Smith L Day/HOU/ECT@ECT, Steve Olinde/Corp/Enron@Enron, Doug
Gilbert-Smith/Corp/Enron@ENRON, Mike Curry/HOU/ECT@ECT, Felicia
Doan/HOU/ECT@ECT
cc:
Subject: Vendor Demos for ERCOT ISO

Following is the schedule for vendor demos for ERCOT ISO:

12/12/00  9 am to 12pm   Tue day Altra   Majors Caldwell 713-419-3461
12/12/00  3 pm to 5 pm Tue day Structure Consulting Loen Winstead
919-349-3997
12/13/00  9  am to 12 pm  Wed day Alstom ESCA  Lawrence Ferry 206-465-3358
12/14/00  9 am to 12 pm  Thurs day ABB   David I'Anson    919-621-5742

Felicia will let us know the conf room.

Felicia,
Please schedule the rooms at least 1 hr earlier so that vendors can setup the
equipment.

Thanks.
Madhup


Attached is a summary on the effort to place the mobile units for use in today's conference call (1PM PDT, 3 PM CDT).  Please call me if you have any questions.

Jim

Jim Buerkle
Manager
West Origination
Enron North America
121 SW Salmon St. 3WTC 0306
Portland, OR 97204

(503) 464-3832 (Office)
(503) 702-4604 (Mobile)
(503) 464-3740 (Fax)
jim.buerkle@enron.com


Attached please find the notes for the last lecture.
Due to scheduling conflicts of several students, I will hold office hours
from 4:30pm to 6:00pm on Saturday in stead of Sunday.
 - review.doc

Xiao-Jun Zhang
Assistant Professor
U.C. Berkeley, Haas School of Business
545 Student Services Building, #1900
Berkeley, CA  94720-1900
Tel: (510) 642-4789,  Fax: (510) 642-4700
E-Mail: xzhang@haas.berkeley.edu


Charlie,

Large cap growth stock to consider is Concord EFS.   Ticker is CEFT.
Provides
electronic authorization services for purchases, settlement services,
clearing
house operations, and funds transfers.  Steady uptrend over the last three
years
with little sensitivity to  market swings.   Very highly recommended stock
with
10 strong buy recommendations.   EPS growth in 30-40% range, and PEG of
1.5.
Looks like a good stock to dampen volatility while still getting positives
of the
growing e-commerce volume/dollars/transaction numbers.

Paul


Karen,

It has been determined that the only valid deal is a wellhead purchase from
Texlan at meter # 6788 in 11/00 and 12/00 production.  Please reallocate the
meter to give all volume to Texlan.  Thanks.

Bob


Daren:
I have several months that need to have the demand charges either added or
adjusted.  When Katherine gave you the numbers the first time, there were
some spot deals included in the exchange deals.  The volumes have now been
moved to the correct deals and the demand charges need to be corrected.  I
have listed the changes below.  Let me know if you would like to see the
spreadsheets.

Deal 157278
3/00 Add demand charge of $73,403.47 for excess charge
4/00 Change demand fee from $1,507.56 to $1,966.93
6/00 Change demand fee from $1,129.99 to $359.97

Deal 157288
3/00 Change demand fee from $3,526.98 to $245.82

Thanks,
Megan


---------------------- Forwarded by Darron C Giron/HOU/ECT on 08/22/2000
09:18 AM ---------------------------

Dawn C Kenne
07/28/2000 01:14 PM
To: Pam B Boxx/HOU/ECT@ECT, Michelle Bythewood <rbwood@ix.netcom.com>,
"Bythewood, Richard" <rbythewood@txi.com>, Linda J Ewing/HOU/ECT@ECT,
ExeterWest@aol.com, maxnbev@wesnet.com (Max Fledderjohann), mafrit@cvtv.net
(Marie Fritsche), Darron C Giron/HOU/ECT@ECT, "Jinnette, Reed"
<Reed.Jinnette@compaq.com>, "Keeling, Ingelisa" <ikeeling@velaw.com>, Bryon
Kenne <bryon@cai-info.com>, plmichaud <plmichaud@pdq.net>, "Rivera, Susan J"
<RiveraSJ@aetna.com> @ ENRON, "Mark Troyer" <mtroyer@computron.net>, "Ray
Vincent" <raylvincent@hotmail.com> @ ENRON, Eric Wardle/HOU/ECT@ECT, Gary
Wilson <gxwilson@us.oracle.com>, "Tracey Wilson"
<twilson@officefurnishings.com> @ ENRON, Ed Zajicek <e.zajicek@pentasafe.com>
cc:
Subject: FW: Do you remember.........

---------------------- Forwarded by Dawn C Kenne/HOU/ECT on 07/28/2000 01:13
PM ---------------------------

"PATTI DESMARAIS" <pmdesmar@earthlink.net> on 07/28/2000 10:11:10 AM
Please respond to pmdesmar@earthlink.net
To: "ANN MCMILLAN" <amcmillan@fscu.org>, "DAWN" <Dawn.c.kenne@enron.com>,
"HLStein" <HLStein@compuserve.com>, "JULIE" <ASKJMK@AOL.COM>, "KAY"
<garywgarrett@email.msn.com>, "POOLE Mike" <Mike.Poole@FINA.com>, "STEVEN
&BECKY" <bnorris2@prodigy.net>, "TERRI" <Conway321@AOL.COM>, "TRACEY"
<TRACEY.STINNETT@FINA.com>
cc:

Subject: FW: Do you remember.........

> [Original Message]
> From: SMITH, MARIE-FRANCE A. (JSC-OC) <marie-france.a.smith1@jsc.nasa.gov>
> To: pmdesmar@earthlink.net <pmdesmar@earthlink.net>
> Date: 7/28/00 10:49:32 AM
> Subject: FW: Do you remember.........
>
> Have a great weekened!!!
>
>
> -----Original Message-----
> From: TETLEY, SANDRA J. (JSC-BJ)
> Sent: Friday, July 28, 2000 9:32 AM
> To: ROLLINS, GAIL A. (JSC-CB); ROLLINS, WILLIAM A. (BILL) (JSC-XA); SMITH,
> MARIE-FRANCE A. (JSC-OC)
> Subject: FW: Do you remember.........
>
>
> Subject: Do you remember.........
>
>
>
> Subject. . . . . What a difference 30 years makes
>
>
> 1970: Long Hair
>
> 2000: Longing for hair
>
>
> 1970: The perfect high
>
> 2000: The perfect high yield mutual fund
>
>
> 1970: Keg
>
> 2000: EKG
>
>
> 1970: Acid Rock
>
> 2000: Acid Reflux
>
>
> 1970: Moving to California because it's cool
>
> 2000: Moving to California because it's warm
>
>
> 1970: Growing pot
>
> 2000: Growing pot belly
>
>
> 1970: Watching John Glenn's historic flight with your parents
>
> 2000: Watching John Glenn's historic flight with your children
>
>
> 1970: Trying to look like Marlon Brando or Elizabeth Taylor
>
> 2000: Trying NOT to look like Marlon Brando or Elizabeth Taylor
>
>
> 1970: Seeds and stems
>
> 2000: Roughage
>
>
> 1970: Popping pills, smoking joints
>
> 2000: Popping joints
>
>
> 1970: Our president's struggle with Fidel
>
> 2000: Our president's struggle with fidelity
>
>
> 1970: Paar
>
> 2000: AARP
>
>
> 1970: Killer weed
>
> 2000: Weed killer
>
>
> 1970: Hoping for a BMW
>
> 2000: Hoping for a BM
>
>
> 1970: The Grateful Dead
>
> 2000: Dr. Kevorkian
>
>
> 1970: Getting out to a new, hip joint
>
> 2000: Getting a new hip joint
>
>
> 1970: Rolling Stones
>
> 2000: Kidney stones
>
>
> 1970: Being called into the principal's office
>
> 2000: Calling the principal's office
>
>
> 1970: Screw the system!
>
> 2000: Upgrade the system
>
>
> 1970: Peace sign
>
> 2000: Mercedes logo
>
>
> 1970: Parents begging you to get your hair cut
>
> 2000: Children begging you to get their heads shaved
>
>


Per the request of Stephanie Sever, I am attaching a list responding to her
request to confirm the attached counterparties ability to trade financial
power products online.  Stephanie, the ones I said "OK to open" you will need
to go in and open for financial power (from Legal only).

Call me if you have any questions about specific counterparties.


Gwyn,

Congratulations.

Vince

 -----Original Message-----
From: 	Koepke, Gwyn
Sent:	Thursday, August 09, 2001 6:16 PM
To:	Kaminski, Vince J
Subject:	CFA results

Vince,

I wanted to let you know that I passed Level I, and with no small thanks to you for giving me the opportunity to spend time out of the office preparing for the exam.

Thank you again for your support.

Gwyn