Mandey and the rest of the group,
Please take the initiative to get these things done.  I am counting on you
and the others (Seniors in the group)
to get these things done.  We have 6 seniors in this group and I expect
things to get accomplished.  I am not
a babysitter.  Lets get this job done or I will find people who want to get
it done.  How about some team work
here!!!!!       Pat

Mandy MacKinnon@ECT
01/11/2000 07:38 PM
To: Pat Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT
cc:

Subject: Unresolved Issues for Jan 1.- Followup

Here is a followup to the memo sent on 12/31/99.  FYI

Enron Field Services   -  Has not been nominated since September 99.  Have we
stopped doing business on this pipe?  (Just an FYI - ?)  Do we need to get
this assigned?  I can find old
   notes and try to get this pathed if necessary.  Someone just needs to let
me know. Unresolved - appears to be unassigned?

Lavaca Expense Transport -  This is offsystem gas that HPLC Transports for
ENA.  ENA has no nom at meter 1000 in Pops for Jan 1. Unresolved

MidCon Texas Pipeline   -  There were deals left unpathed for Jan 1 (and
Dec?).  I brokered and nominated the obvious but we seem to have 10,000 with
transport contract to move this    gas on and no sale to broker to.  As it
stands, it looks like we have a long position.  Who is this assigned to?  I
thought Carlos was handling this one, but I could    be wrong.  Unresolved

Channel Industries Pipeline  -  Several issues here:

 1. All Deals with the exception of the long term Transport Expense were left
unpathed for Jan 1.  I viewed prior month transactions and pathed
appropriately.  Someone
  needs to review for accuracy. Also, there were deals that went to zero,
that were nominated for January.  Resolved but needs to be verified.

 2. We still do not have enough supply to meet our sales requirement.  This
issue has been left unsresolved since October 99.  Volume Management cannot
allocate was is
  not pathed and nominated.  Unresolved or Unpathed?

 3. There is a transaction for January that is once again not on our point
specific transport contracts.  (Rec Mtr 1-6366 10,000 to Del Mtr 2-6203
10,000).  This is a pathed pipeline. We have no rate.  We need to know the
rate and whether one of the expense contracts needs to be amended for this
transaction, we are not legally covered.  Carlos was handling this pipe in
Dec.  Who is this assigned to for Jan? Unresolved

HPL Operational -  This Shipper on HPL has been left unpathed for December
and January 1.  Who is this assigned to?  This can wait until we get back
next week.  If it is left     unresolved, I will get it pathed when I return.
I haven't had time to do this yet.  If we haven't figured out the assignement
then I will get to it asap.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/09/2001
05:02 PM ---------------------------

"MacMillan, Ian" <macmilli@wharton.upenn.edu> on 03/08/2001 01:47:27 PM
To: "'Vince.J.Kaminski@enron.com'" <Vince.J.Kaminski@enron.com>
cc:
Subject: RE: Lawyer

I will sign an agreement not to use the materials

-----Original Message-----
From: Vince.J.Kaminski@enron.com [mailto:Vince.J.Kaminski@enron.com]
Sent: Thursday, March 08, 2001 11:13 AM
To: macmilli@wharton.upenn.edu
Cc: Vince.J.Kaminski@enron.com
Subject: Re: Lawyer

Ian,

Sorry for a delay in getting back to you.
I have one challenge I did not anticipate
when I talked to you  the first time about our Real Options
internal seminar.

The materials were prepared in collaboration with a professor
from another school, and there is some  sensitivity regarding
the intellectual property rights and the ability to distribute the
materials
outside Enron.

Please, give me some time to find out if I can work
around this issue.

Vince

"MacMillan, Ian" <macmilli@wharton.upenn.edu> on 03/07/2001 06:46:28 AM

To:   "'Vince.J.Kaminski@enron.com'" <Vince.J.Kaminski@enron.com>
cc:
Subject:  Lawyer

I still have not heard from your lawyer.  I would like to see whar
materials you are using and assess how we could work on the topic of real
options with Enron


Many thanks Tana.  I'll look forward to getting the Schedule once agreed!!

Clare

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Monday, October 30, 2000 7:27 PM
To: Clare.Godson@AllenOvery.com
Subject: RE: FW: Deutsche Bank ISDA Master Agreements

Attached is the final version of the Enron Corp. Guaranty.  Unfortunately,
the ISDA Schedule is in the hands of Deutsche Bank and I need them to turn
around the revised draft.  I'm still working on it.

(See attached file: Deutsche Bank Enron Guaranty4.doc)

                    Clare.Godson@Alle

                    nOvery.com               To:     Tana.Jones@enron.com

                                             cc:     richard.sage@enron.com,
Denis.O'Connell@enron.com
                    10/20/2000 12:22         Subject:     RE: FW: Deutsche
Bank ISDA Master Agreements
                    PM

Tana,

Thanks for this.  It would be very helpful if you could send me the latest
versions of the Guarantee and the Schedule just indicating which is the
only
outstanding point.  That way we can prepare the versions for
EnronCredit.com
Limited based on these and get things as close to finalised pending the
outcome of this last credit point that you refer to.

My fax number is 0207 330 9999.

Many thanks for your assistance.

Kind regards,

Clare

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Thursday, October 19, 2000 7:40 PM
To: Clare.Godson@AllenOvery.com
Subject: RE: FW: Deutsche Bank ISDA Master Agreements

I bet you thought I forgot about you?!

The lawyer up at Enron Corp. just called me and said he just got off the
phone w/Deutsche Bank and they have come to an agreement as to the proposed
form of guaranty.  We have one more credit issue on the master that Credit
would like us to revisit with them, but otherwise I think we close to being
done.  If you would like me to coordinate the execution of the guarantees
you need with Enron Corp., I will be happy to assist you.

                    Clare.Godson@Alle

                    nOvery.com               To:     Tana.Jones@enron.com

                                             cc:

                    10/10/2000 12:57         Subject:     RE: FW: Deutsche
Bank ISDA Master Agreements
                    PM

Many thanks for the update.

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Tuesday, October 10, 2000 1:31 PM
To: Clare.Godson@AllenOvery.com
Subject: RE: FW: Deutsche Bank ISDA Master Agreements

We just received what we hope is a final draft of the documents from
Deutsche Bank, and I hope to respond back to you shortly, once I have had a
chance to confirm they made all the changes.

                    Clare.Godson@Alle

                    nOvery.com               To:     Mark.Taylor@enron.com

                                             cc:     Tana.Jones@enron.com

                    10/10/2000 04:33         Subject:     RE: FW: Deutsche
Bank ISDA Master Agreements
                    AM

Many thanks. Apologies for the error, I obtained Tana's e-mail details from
someone at Enron in London and they had misspelled it for me.

Thanks again for all your help.

Clare

-----Original Message-----
From: Mark.Taylor@enron.com [mailto:Mark.Taylor@enron.com]
Sent: Monday, October 09, 2000 6:00 PM
To: Clare.Godson@AllenOvery.com
Cc: Tana.Jones@enron.com
Subject: Re: FW: Deutsche Bank ISDA Master Agreements

Clare,

Thanks for your note.  Your e-mail trouble is due to the spelling of Tana's
name - should only be one 'n.'  I am forwarding this on to her.

Mark

                    Clare.Godson@Alle

                    nOvery.com               To:     mark.taylor@enron.com

                                             cc:

                    10/09/2000 04:50         Subject:     FW: Deutsche Bank
ISDA Master Agreements
                    AM

Mark,

I am having some problems sending this to Tanna.  her e-mail keeps bouncing
back.  Could you pass this on to her please?

many thanks for your help.

Kind regards,

Clare

>  -----Original Message-----
> From:   Godson, Clare:ICM (LN)
> Sent:   Friday, October 06, 2000 3:16 PM
> To:     'tanna.jones@enron.com'
> Cc:     Markus.Fiala@enron.com; Nicholas.J.Stephan@enron.com;
> Rod.Nelson@enron.com; 'Elaine.Bannerman-Sowah@enron.com';
> edmund.cooper@enron.com; denis.o'connell@enron.com; paul.simons@enron.com
> Subject:     RE: Deutsche Bank ISDA Master Agreements
>
>
> Tanna,
>
> Could you please give me an update on where things stand on the
> finalisation of the Guarantees and Schedule with Deutsche.  I understood
> that the guarantees were with Enron Corp. for final approval and
> signature.  Is the documentation now agreed? As you are aware the
> negotiation of the documentation with EnronCredit.com is dependent upon
> the finalisation of the documentation outstanding with Houston.
>
> Many thanks for your help.
>
> Kind regards,
>
> Clare
>  -----Original Message-----
> From:   Godson, Clare:ICM (LN)
> Sent:   Friday, September 22, 2000 3:06 PM
> To:     'tanna.jones@enron.com'
> Subject:     First Union National Bank (FUNB) ISDA Master Agreements
>
> Tanna,
>
> Thanks for your help on the Goldman Sachs and Deutsche negotiations.  If
> you could keep me posted on the timing of the Deutsche agreements being
> put in place that would be really helpful.  I also have another quick
> request and that relates to the ISDA Master Agreement with FUNB.  I have
> spoken to Delene Travella at FUNB.  They are negotiating an ECTRIC
> Schedule with you in Houston which they want to finalise before
commencing
> EnronCredit.com's negotiation.  Can you give me an update on where this
> negotiation stands and how long before it is likely to be finalised?
>
> Many thanks,
>
> Clare Godson

======================================================================

This email is confidential and may also be privileged.  If you are not the
intended recipient please notify us immediately by telephoning +44 (20)
7330 3000 and requesting the Technology Services Helpdesk. You should not
copy it or use it for any purpose nor disclose its contents to any other
person.

Allen & Overy
One New Change
London
EC4M 9QQ

Tel:+44 (20) 7330 3000
Fax: +44 (20) 7330 9999
General Email: Helpdesk@allenovery.com
www: http://www.allenovery.com

Allen & Overy is a solicitors' partnership.  A list of the names of
partners and their professional qualifications is open to inspection at the
above office.  The partners are either solicitors or registered foreign
lawyers.

======================================================================


Yep.  I'm a wild man now.

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Chain Letter-Read This. You Won't be Dissappointed.

Do you really want to take that chance to fine out?!!!!!

Chris Germany@ECT
03/24/2000 12:16 PM
To: Marde L Driscoll/HOU/EES@EES
cc:
Subject: Re: Chain Letter-Read This. You Won't be Dissappointed.

What do I get if I break the chain?


Just heard from Sean - says it should be 3/7/01 through 3/31/01.

Evelyn Metoyer@ENRON
03/05/2001 02:01 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 3/5/01 Checkout

Amerex

Sean Crandall:
deal 537943
Amerex shows term as 3/8-3/31......enpower has 3/7-3/31

Prebon
All deals checked out fine.

Bloomberg
All deals checked out fine.


I'l schedule it..

Thanks again

 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Wednesday, May 30, 2001 2:24 PM
To:	Hayden, Frank
Cc:	Tamarchenko, Tanya; Kaminski, Vince J
Subject:	RE: Project X

Frank,

I shall catch you tomorrow (Thu) morning with m feedback. I shall be glad to attend
any meeting on Thursday or Friday this week (I am still relatively open).

Sorry for the delay.

Vince
 -----Original Message-----
From: 	Hayden, Frank
Sent:	Wednesday, May 30, 2001 1:38 PM
To:	Kaminski, Vince J
Cc:	Tamarchenko, Tanya
Subject:	Project X

Vince,
I'm trying to organize a project X update.  Are there any times you would prefer? Also, below is an email form the power desk...it appears that they are going to post correlations...

Any ideas? Feedback?

Thanks,
Frank

 -----Original Message-----
From: 	Evans, Casey
Sent:	Wednesday, May 30, 2001 1:10 PM
To:	Hayden, Frank
Cc:	White, Stacey; Vinson, Donald Wayne; McIntyre, Burton
Subject:	VAR Engine question

Frank,

Concerning our ongoing discussions on the proper capture of ancillary and renewable energy credit positions in VAR, I have a proposed solution that I would like to run by you to ensure that proper valuation for these positions will be captured by your VAR engine.  As the positions are marked on their own curve but are valued for VAR purposes using the volatility curves and correlation factors for an energy curve, the VAR on these positions is obviously inaccurate.  As a result, the traders will be setting volatility curves and correlation factors today which will be unique for each ancillary/energy credit position.  All of the correlation factors will be zero and a majority of the volatility curves will be zero, as well.  I simply wanted to ensure that your model would not have a problem with volatilityies or correlations of zero.  I would appreciate your thoughts.

Thanks.
Casey


Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.

We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.

It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:

-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;

-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;

-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;

-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and

-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.

We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.

Core Businesses

Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:

-- Natural gas pipeline businesses;

-- Gas and power businesses in North America and Europe;

-- Retail businesses in North America and Europe; and

-- Coal businesses in North America and Europe.

The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.

I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.

Non-Core Businesses

Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.

We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.

Businesses Under Review

These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.

Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.

Credit Rating/10-Q Filing

We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:

-- Moody's at Baa3       "Under Review for Further Downgrade"

-- Fitch at BBB-             "Evolving Status"

-- S&P at BBB-              "CreditWatch Negative"

We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.

We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."

In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.

In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron.


Per Steve Kean, attached please find a filing at FERC that includes an
appendix identifying market abuses.

Please let me know if you experience any difficulties with the file.

Regards,
Elizabeth Linnell


Proposed pricing mechanism:

Dow Jones Electricity Indexes, specifically their NP15/SP15 indexes.
- the indexes are based on weighted average prices and total volumes
- they measure "bilateral one-day prescheduled, financially firm transactions"
=> therefore the Dow Jones Index more accurately reflects market pricing
- Dow Jones has the right to randomly audit the data providers

why not the ex-post ISO?
- generators are not selling to California's ISO because of the $150/MWh
price cap,
=> therefore prices coming out of the ISO do not reflect real market prices
- if generators are not selling into the market, there is no liquidity,
therefore prices are not reflective of the prices that buyers must pay

why not use the ex-post ISO price on an interim basis?
- because putting a false cap on the market price will result in price
increases to DA customers, contrary to AB1890, without due process
- Decision 99-06-058 set the foundation for the PX credit to reflect real
market prices, PG&E's proposal does not adhere to this.


Gina,

I shall be glad to speak with you. Shirley Crenshaw will call you to set up a
meeting.

Vince

From: Gina Corteselli/ENRON@enronXgate on 04/16/2001 01:12 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: PRC Feedback forms

Mr. Kaminski:

I would like to try to get on your schedule for a few moments this week to
discuss the draft  PRC 360 evaluation forms (provided below for your info) to
ensure that the criteria and skills and behaviors we have used are adequate
for your employee population.  The generic forms that were presented at the
PRC Committee meeting a week ago may best reflect commercial employees, and
to some extent commercial support employees, and may not be entirely
appropriate for employees in some of the specialized technical and technical
areas.  I would appreciate your input on this so that, if possible and time
permitting, we can try to tailor the form to suit needs across the
organization.

One simple solution may be to add a skills/behaviors block requesting
evaluation and feedback on the employees specific job and performance,
another solution would be to add job specific behaviors and descriptors to
the list of those already developed (second attachment below).  I would
welcome your thoughts and a few moments of your time to chat with you about
this.

Many Thanks,
Gina Corteselli
 Global Performance Management
713 853-3377
713 569-5589 (mobile)


The migration of the applications to Model Office will begin tonight and complete tomorrow by lunch.  The migration will be as follows:

1.  Tuesday Evening - PLE/TMS Migration
2.  Wednesday Morning - CMS/CRS/CAS Migration
3.  Wednesday Morning - Database Migrations

If you have any questions regarding these moves, then please let me know.

Thanks!

ab.

Andy Brady
Enron Transportation Service, IT
Work Phone - 713-853-7110
Work Fax - 713-853-6756


I'm sure he'll come down whenever we ask.  Should I tell him to get his butt down here and show us the love?

 -----Original Message-----
From: 	Shankman, Jeffrey A.
Sent:	Wednesday, October 10, 2001 3:13 PM
To:	Arnold, John
Subject:	RE:

when is brian tracy coming to town?  or does he use eol too, and we'll never see him again.

 -----Original Message-----
From: 	Arnold, John
Sent:	Monday, October 08, 2001 6:44 PM
To:	Shankman, Jeffrey A.
Subject:

that was pretty funny. Do not still have the double date thing.

I need a favor in return for interviewing your boys.  Remember Mark Findsen.  He's looking to get back into the business, possibly from the trading side.  I actually think he might make a better orig guy.  He has been in the crude and products markets for 10+ years.  Has no experiece in trading energy but has been day trading equities for past year.  He asked if he could get a round of interviews at Enron.  Could you set up a round for him?


COLOMBIA: Colombia sets new date for key utility privatization.
12/13/2000
Reuters English News Service
(C) Reuters Limited 2000
MARKET TALK: Reading Into Liquidty At Investment Banks
12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

MARKET TALK: Bush Tax Cuts May Get Pushed Through
12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

MARKET TALK: It's Not High Court, But HMOs Get Big Ruling
12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

MARKET TALK: Short-Term Gains On March S&Ps May Be Capped
12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

MARKET TALK: Technical Look at Toronto Exchange
12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

COLOMBIA: Colombia sets new date for key utility privatization.
12/13/2000
Reuters English News Service
(C) Reuters Limited 2000.

BOGOTA, Dec 13 (Reuters) - The embattled Colombian government on Wednesday
set a deadline of June 30 next year for its often delayed privatization of
state-run power generator ISAGEN.
The 1,636 megawatt generator, the country's third-largest and valued at about
$450 million, was most recently due to have been sold by Sept. 30 as part of
a year-old plan agreed with the International Monetary Fund to help boost
government revenues and meet tight budget targets.
But it was delayed indefinitely until just last week when the Council of
State - a tribunal set up to resolve disputes between the government and
private sector - struck down an injunction blocking the sale that was based
on a complaint from Empresas Publicas de Medellin (EPM), Colombia's largest
public utility.
EPM has argued that it has been unfairly excluded from the bidding process
for ISAGEN by government regulators, on grounds that its ownership of the
company would violate antitrust laws by giving it a virtual monopoly over
Colombia's power generating capacity.
Finance Minister Juan Manuel Santos said in September that the government was
determined to finalize the ISAGEN sell-off by the end of this year, once the
Council of State ruled as expected in the government's favor.
But Santos, who spoke to reporters as he emerged from a cabinet meeting at
the presidential palace, said legal loopholes, possible changes in the
price-tag for ISAGEN, and the need to update paperwork related to its
privatization would now postpone the deal until June 30.
"We have to restart this whole process. We're going to study the valuation
and reopen negotiations with possible buyers to see how we can put ISAGEN up
for sale at the best price as soon as possible," Santos said.
The sale of ISAGEN, considered one of the crown jewels in the government's
troubled privatization program, had originally been expected to take place
last December. It was later slated for the first half of 2000, at a time when
government sources said leading bidders included U.S. energy group Enron .
The sell-off in the first half of this year was delayed, until the elusive
Sept. 30 deadline, amid a flurry of attacks on the national power grid by
Marxist rebel saboteurs and legal challenges to the sale from ISAGEN's own
labor union.
MARKET TALK: Reading Into Liquidty At Investment Banks

12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201 938-5299; All Times Eastern)

MARKET TALK can be found using code N/DJMT

2:58 (Dow Jones) As credit quality concerns dog investors, Bear Stearns'
analyst Amy Butte says in a report Wednesday that investment banks are
increasing liquidity to historically high levels, which could be a sign of
either a more conservative bent or a premonition of risk, she said. (CWM)
2:48 (Dow Jones) Gridlock may put some of Bush's measures, such as school
vouchers and Social Security privatization, on hold. But rebel Democrats may
help pass all or most of Bush's tax cuts, says economist Ian Morris at HSBC.
That wouldn't prevent hard landing in 2001, but the stimulus will be felt by
2002. By 2003, Morris says, the surplus could be more like $250 billion than
CBO's projected $400 billion. (SV)
2:39 (Dow Jones) OK, so it wasn't an unprecedented ruling that determined our
next president, but there was a big ruling in the HMO arena concerning
provider lawsuits. Chase H&Q calls judge's decision granting certain parts
and denying other parts of various defendant's motions a minor victory for
HMOs. Ruling positive for Wellpoint (WLP) and Aetna (AET), mildly positive
for Cigna (CI) and United Healthcare (UNH), mixed for PacifiCare (PHSY), and
has no impact on Humana (HUM). (TG)
2:30 (Dow Jones) March S&Ps, which have spent all day in negative territory,
are focusing on the fundamentals now that the election outcome is more
certain. And the fundamentals don't look too bullish, given the earnings
warnings of recent days, particularly from computer and chip-makers,
off-floor traders say. "We probably won't be heading any higher tomorrow than
where we are today," he said. (ZHS)
2:20 (Dow Jones) The intraday low for Toronto's TSE 300 Index is 9103.95,
practically significant weekly support at 9103.64. The index is now pointed
up to about 9500 at least, if the intraday low holds. A daily close below
9103.64 means that the index is headed back to to the lower 8500 handle. (SC)
2:15 (Dow Jones) Lehman's Jeff deGraaf says that while he is not a big fan of
energy names currently, Ultramar Diamond Shamrock (UDS) has one of the best
looking charts in the sector. Nice base off which to rally, and shares are
above both 50-day and 200-day moving average. Stop under $26. (TG)
2:00 (Dow Jones) Tough day for Applied Materials (AMAT) and semi group.
Salomon, Merrill downgrade AMAT, and Prudential lowers estimates on company
and several other semiconductor names. Pru also has an "implied trough value"
for semi companies, and they're not pretty: AMAT $28-$27, KLAC $20-$26, KLIC
$8, LRCX $14-$18, NVLS $22-$31, and TER $15-$30. (TG)
1:45 (Dow Jones) Celestica (CLS) and NEC Corp. (NIPNY) could be about to hook
up again. TD Securities analyst Mark Lucey says Celestica is looking for
regulatory approval to buy a unit of NEC in the U.K. This after NEC said
Tuesday it is in talks to sell its mobile phone production facilities in the
U.K. and Mexico. In June, Celestica acquired NEC's manufacturing plant in
Brazil as part of a five-year, $1.2 billion supply agreement. In addition,
Nokia is looking to move into Brazil and said it will use Celestica to
manufacture GSM wireless base stations after securing contract wins,
according to Lucey. (SEW)
1:43 (Dow Jones) Said U.S. Rep. Lloyd Doggett, a Democrat from Austin, Tex.:
"With a mere one-person majority of the Court and a definiite minority of the
national vote, President-elect Bush is off to a tough start. All of us have a
stake in the success of his presidency. Now is the time to join with him,
without foresaking principle, to seek common ground in addressing the
nation's needs." (JC)
1:29 (Dow Jones) The chance of a rate cut at the next FOMC meeting next week
is modest, but on the rise and helping to fuel Tsys gains, says bond
strategist. Fed Funds futures showing 15% to 20% chance of rate cut on Dec.
19, strategist says. 30-year now at session high, up 22/32 at 111 3/32, yield
down 4 bp at 5.49%. (JNP)
1:22 (Dow Jones) Prudential Vector analyst Timothy Anderson lowered Alza
(AZA) to accumulate from strong buy because of valuation. With positive
prescription trends for attention deficit hyperactivity disorder medicine
Concerta and strong market shares of overactive bladder treatment Ditropan
XL, Anderson said Alza shares are "priced for perfection and expectations are
high - any slight upset could weigh heavily on the stock." Shares fell about
8.5%. (BMM)
1:13 (Dow Jones) Online and discount broker Charles Schwab Corp. (SCH) sees
meeting the 14 cents that analysts expected for its fourth quarter earnings
per share as a challenge, unless there is a big surge in trading activity or
the firm cuts costs sharply. Schwab shares are off 2.7%. (GFC)
1:10 (Dow Jones) Enron's (ENE) current chief executive and chairman, Kenneth
Lay, says he categorically won't be taking a job in a new presidential
administration. "I have no plans to go to Washington, and no plans to leave
Houston or Enron. I can say categorically that I won't be taking a job in a
Bush cabinet," Lay said in an interview. (MPG)
1:07 (Dow Jones) Vlasic Foods International (VL) apparently has received bids
for both the entire company and individual parts, according to Merrill
Lynch's Len Teitelbaum. The troubled pickle maker has been on the block since
March. Teitelbaum says a deadline of Feb. 28 has been set by the banks
involved. He estimates stockholders could reap proceeds of 89 cents to $1.00
a share at the completion of a sale. Teitelbaum is convinced that "the main
objective of (Vlasic's) management now is to make the bondholder whole." As a
result, the analyst no longer maintains an investment opinion on the stock.
(VL)
MARKET TALK: Bush Tax Cuts May Get Pushed Through

12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201 938-5299; All Times Eastern)

MARKET TALK can be found using code N/DJMT

2:48 (Dow Jones) Gridlock may put some of Bush's measures, such as school
vouchers and Social Security privatization, on hold. But rebel Democrats may
help pass all or most of Bush's tax cuts, says economist Ian Morris at HSBC.
That wouldn't prevent hard landing in 2001, but the stimulus will be felt by
2002. By 2003, Morris says, the surplus could be more like $250 billion than
CBO's projected $400 billion. (SV)
2:39 (Dow Jones) OK, so it wasn't an unprecedented ruling that determined our
next president, but there was a big ruling in the HMO arena concerning
provider lawsuits. Chase H&Q calls judge's decision granting certain parts
and denying other parts of various defendant's motions a minor victory for
HMOs. Ruling positive for Wellpoint (WLP) and Aetna (AET), mildly positive
for Cigna (CI) and United Healthcare (UNH), mixed for PacifiCare (PHSY), and
has no impact on Humana (HUM). (TG)
2:30 (Dow Jones) March S&Ps, which have spent all day in negative territory,
are focusing on the fundamentals now that the election outcome is more
certain. And the fundamentals don't look too bullish, given the earnings
warnings of recent days, particularly from computer and chip-makers,
off-floor traders say. "We probably won't be heading any higher tomorrow than
where we are today," he said. (ZHS)
2:20 (Dow Jones) The intraday low for Toronto's TSE 300 Index is 9103.95,
practically significant weekly support at 9103.64. The index is now pointed
up to about 9500 at least, if the intraday low holds. A daily close below
9103.64 means that the index is headed back to to the lower 8500 handle. (SC)
2:15 (Dow Jones) Lehman's Jeff deGraaf says that while he is not a big fan of
energy names currently, Ultramar Diamond Shamrock (UDS) has one of the best
looking charts in the sector. Nice base off which to rally, and shares are
above both 50-day and 200-day moving average. Stop under $26. (TG)
2:00 (Dow Jones) Tough day for Applied Materials (AMAT) and semi group.
Salomon, Merrill downgrade AMAT, and Prudential lowers estimates on company
and several other semiconductor names. Pru also has an "implied trough value"
for semi companies, and they're not pretty: AMAT $28-$27, KLAC $20-$26, KLIC
$8, LRCX $14-$18, NVLS $22-$31, and TER $15-$30. (TG)
1:45 (Dow Jones) Celestica (CLS) and NEC Corp. (NIPNY) could be about to hook
up again. TD Securities analyst Mark Lucey says Celestica is looking for
regulatory approval to buy a unit of NEC in the U.K. This after NEC said
Tuesday it is in talks to sell its mobile phone production facilities in the
U.K. and Mexico. In June, Celestica acquired NEC's manufacturing plant in
Brazil as part of a five-year, $1.2 billion supply agreement. In addition,
Nokia is looking to move into Brazil and said it will use Celestica to
manufacture GSM wireless base stations after securing contract wins,
according to Lucey. (SEW)
1:43 (Dow Jones) Said U.S. Rep. Lloyd Doggett, a Democrat from Austin, Tex.:
"With a mere one-person majority of the Court and a definiite minority of the
national vote, President-elect Bush is off to a tough start. All of us have a
stake in the success of his presidency. Now is the time to join with him,
without foresaking principle, to seek common ground in addressing the
nation's needs." (JC)
1:29 (Dow Jones) The chance of a rate cut at the next FOMC meeting next week
is modest, but on the rise and helping to fuel Tsys gains, says bond
strategist. Fed Funds futures showing 15% to 20% chance of rate cut on Dec.
19, strategist says. 30-year now at session high, up 22/32 at 111 3/32, yield
down 4 bp at 5.49%. (JNP)
1:22 (Dow Jones) Prudential Vector analyst Timothy Anderson lowered Alza
(AZA) to accumulate from strong buy because of valuation. With positive
prescription trends for attention deficit hyperactivity disorder medicine
Concerta and strong market shares of overactive bladder treatment Ditropan
XL, Anderson said Alza shares are "priced for perfection and expectations are
high - any slight upset could weigh heavily on the stock." Shares fell about
8.5%. (BMM)
1:13 (Dow Jones) Online and discount broker Charles Schwab Corp. (SCH) sees
meeting the 14 cents that analysts expected for its fourth quarter earnings
per share as a challenge, unless there is a big surge in trading activity or
the firm cuts costs sharply. Schwab shares are off 2.7%. (GFC)
1:10 (Dow Jones) Enron's (ENE) current chief executive and chairman, Kenneth
Lay, says he categorically won't be taking a job in a new presidential
administration. "I have no plans to go to Washington, and no plans to leave
Houston or Enron. I can say categorically that I won't be taking a job in a
Bush cabinet," Lay said in an interview. (MPG)
1:07 (Dow Jones) Vlasic Foods International (VL) apparently has received bids
for both the entire company and individual parts, according to Merrill
Lynch's Len Teitelbaum. The troubled pickle maker has been on the block since
March. Teitelbaum says a deadline of Feb. 28 has been set by the banks
involved. He estimates stockholders could reap proceeds of 89 cents to $1.00
a share at the completion of a sale. Teitelbaum is convinced that "the main
objective of (Vlasic's) management now is to make the bondholder whole." As a
result, the analyst no longer maintains an investment opinion on the stock.
(VL)
MARKET TALK: It's Not High Court, But HMOs Get Big Ruling

12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201 938-5299; All Times Eastern)

MARKET TALK can be found using code N/DJMT

2:39 (Dow Jones) OK, so it wasn't an unprecedented ruling that determined our
next president, but there was a big ruling in the HMO arena concerning
provider lawsuits. Chase H&Q calls judge's decision granting certain parts
and denying other parts of various defendant's motions a minor victory for
HMOs. Ruling positive for Wellpoint (WLP) and Aetna (AET), mildly positive
for Cigna (CI) and United Healthcare (UNH), mixed for PacifiCare (PHSY), and
has no impact on Humana (HUM). (TG)
2:30 (Dow Jones) March S&Ps, which have spent all day in negative territory,
are focusing on the fundamentals now that the election outcome is more
certain. And the fundamentals don't look too bullish, given the earnings
warnings of recent days, particularly from computer and chip-makers,
off-floor traders say. "We probably won't be heading any higher tomorrow than
where we are today," he said. (ZHS)
2:20 (Dow Jones) The intraday low for Toronto's TSE 300 Index is 9103.95,
practically significant weekly support at 9103.64. The index is now pointed
up to about 9500 at least, if the intraday low holds. A daily close below
9103.64 means that the index is headed back to to the lower 8500 handle. (SC)
2:15 (Dow Jones) Lehman's Jeff deGraaf says that while he is not a big fan of
energy names currently, Ultramar Diamond Shamrock (UDS) has one of the best
looking charts in the sector. Nice base off which to rally, and shares are
above both 50-day and 200-day moving average. Stop under $26. (TG)
2:00 (Dow Jones) Tough day for Applied Materials (AMAT) and semi group.
Salomon, Merrill downgrade AMAT, and Prudential lowers estimates on company
and several other semiconductor names. Pru also has an "implied trough value"
for semi companies, and they're not pretty: AMAT $28-$27, KLAC $20-$26, KLIC
$8, LRCX $14-$18, NVLS $22-$31, and TER $15-$30. (TG)
1:45 (Dow Jones) Celestica (CLS) and NEC Corp. (NIPNY) could be about to hook
up again. TD Securities analyst Mark Lucey says Celestica is looking for
regulatory approval to buy a unit of NEC in the U.K. This after NEC said
Tuesday it is in talks to sell its mobile phone production facilities in the
U.K. and Mexico. In June, Celestica acquired NEC's manufacturing plant in
Brazil as part of a five-year, $1.2 billion supply agreement. In addition,
Nokia is looking to move into Brazil and said it will use Celestica to
manufacture GSM wireless base stations after securing contract wins,
according to Lucey. (SEW)
1:43 (Dow Jones) Said U.S. Rep. Lloyd Doggett, a Democrat from Austin, Tex.:
"With a mere one-person majority of the Court and a definiite minority of the
national vote, President-elect Bush is off to a tough start. All of us have a
stake in the success of his presidency. Now is the time to join with him,
without foresaking principle, to seek common ground in addressing the
nation's needs." (JC)
1:29 (Dow Jones) The chance of a rate cut at the next FOMC meeting next week
is modest, but on the rise and helping to fuel Tsys gains, says bond
strategist. Fed Funds futures showing 15% to 20% chance of rate cut on Dec.
19, strategist says. 30-year now at session high, up 22/32 at 111 3/32, yield
down 4 bp at 5.49%. (JNP)
1:22 (Dow Jones) Prudential Vector analyst Timothy Anderson lowered Alza
(AZA) to accumulate from strong buy because of valuation. With positive
prescription trends for attention deficit hyperactivity disorder medicine
Concerta and strong market shares of overactive bladder treatment Ditropan
XL, Anderson said Alza shares are "priced for perfection and expectations are
high - any slight upset could weigh heavily on the stock." Shares fell about
8.5%. (BMM)
1:13 (Dow Jones) Online and discount broker Charles Schwab Corp. (SCH) sees
meeting the 14 cents that analysts expected for its fourth quarter earnings
per share as a challenge, unless there is a big surge in trading activity or
the firm cuts costs sharply. Schwab shares are off 2.7%. (GFC)
1:10 (Dow Jones) Enron's (ENE) current chief executive and chairman, Kenneth
Lay, says he categorically won't be taking a job in a new presidential
administration. "I have no plans to go to Washington, and no plans to leave
Houston or Enron. I can say categorically that I won't be taking a job in a
Bush cabinet," Lay said in an interview. (MPG)
1:07 (Dow Jones) Vlasic Foods International (VL) apparently has received bids
for both the entire company and individual parts, according to Merrill
Lynch's Len Teitelbaum. The troubled pickle maker has been on the block since
March. Teitelbaum says a deadline of Feb. 28 has been set by the banks
involved. He estimates stockholders could reap proceeds of 89 cents to $1.00
a share at the completion of a sale. Teitelbaum is convinced that "the main
objective of (Vlasic's) management now is to make the bondholder whole." As a
result, the analyst no longer maintains an investment opinion on the stock.
(VL)
1:00 (Dow Jones) Tech boutique Thomas Weisel Partners reiterated its buy
rating and raised its 2001 revenue projections for SonicWall (SNWL), to
$125.2 million from $106.4 million, saying the computer firewall maker's
acquisition of Phobos will boost market share in internal transaction
security as well as traditional firewall appliances. "Visibility and and
business momentum continue to be strong," said analyst Mark Edelen. (MER)
12:56 (Dow Jones) March Nasdaqs and S&Ps are incurring losses on
profit-taking, said floor traders, who were intrigued by their fall even when
it has become clear that Al Gore, whose defeat was seen as bullish for the
stock futures market, is reportedly going to concede. "There's no uncertainty
left in the market," quipped one floor trader. (ZHS)
12:40 (Dow Jones) Lehman opened up coverage on a passel of Internet
infrastructure service companies, with an outperform rating on Digex (DIGX),
Genuity (GENU) and InterNAP (INAP). Harry Blount is looking past current
turbulence in the stocks to a time of "powerful secular growth." The
companies, Blount says, "have among the most compelling business models of
any emerging growth sector in the stock market." Among the pluses he cites
are steady revenue, scalable business models and decreasing capital costs as
the companies reach critical mass.
12:21 (Dow Jones) Wounded Linux stocks rallying for second straight day after
IBM CEO Gerstner said Tuesday that Big Blue would invest $1 billion next year
commercializing the renegade operating system. After seeing their stocks drop
as much as 95% this year, Red Hat (RHAT), VA Linux, (LNUX) and Caldera (CALD)
are each up more than 20%. (MLP)
12:14 (Dow Jones) Stanley Furniture's (STLY) 4Q sales and earns warning comes
on same day that Commerce, in its retail sales report, said overall furniture
sales surged 1.5% in Nov. - biggest monthly jump in about a year. Maybe
coincidental, maybe a holiday phenom. But it's still interesting that sales
climbing amid clear signs of general earnings weakness in furniture business.
Stanley, a thinly traded stock, off 8% at 21.32. (GC)
12:10 (Dow Jones) Bond market issuance was down 25% during the first three
quarters of the year amid the Fed's interest rate hiking campaign, the Bond
Market Association says. Total issuance totaled $1.6 trillion through Sept.
to $15.6 trillion in outstanding debt. (MSD)
11:57 (Dow Jones) Veritas (VRTS) continues to feel pressure (shares down 6%)
amid concerns it will suffer from weakness in Sun Microsystems' (SUNW) server
business, which accounts for a chunk of its storage software sales. But
Merrill defends Veritas, saying it's on track to meet or exceed fourth
quarter targets and investors should use volatility to load up on Veritas.
(MLP)
11:51 (Dow Jones) A lot of news and bond friendly data today, but not any big
changes in sentiment. As tech names trade in negative territory, Treasurys
are holding a bid. But traders say flows are going both ways, suggesting that
a rebound in stocks will be enough to push Treasury prices back toward
unchanged on the day. (SV)L)
MARKET TALK: Short-Term Gains On March S&Ps May Be Capped

12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201 938-5299; All Times Eastern)

MARKET TALK can be found using code N/DJMT

2:30 (Dow Jones) March S&Ps, which have spent all day in negative territory,
are focusing on the fundamentals now that the election outcome is more
certain. And the fundamentals don't look too bullish, given the earnings
warnings of recent days, particularly from computer and chip-makers,
off-floor traders say. "We probably won't be heading any higher tomorrow than
where we are today," he said. (ZHS)
2:20 (Dow Jones) The intraday low for Toronto's TSE 300 Index is 9103.95,
practically significant weekly support at 9103.64. The index is now pointed
up to about 9500 at least, if the intraday low holds. A daily close below
9103.64 means that the index is headed back to to the lower 8500 handle. (SC)
2:15 (Dow Jones) Lehman's Jeff deGraaf says that while he is not a big fan of
energy names currently, Ultramar Diamond Shamrock (UDS) has one of the best
looking charts in the sector. Nice base off which to rally, and shares are
above both 50-day and 200-day moving average. Stop under $26. (TG)
2:00 (Dow Jones) Tough day for Applied Materials (AMAT) and semi group.
Salomon, Merrill downgrade AMAT, and Prudential lowers estimates on company
and several other semiconductor names. Pru also has an "implied trough value"
for semi companies, and they're not pretty: AMAT $28-$27, KLAC $20-$26, KLIC
$8, LRCX $14-$18, NVLS $22-$31, and TER $15-$30. (TG)
1:45 (Dow Jones) Celestica (CLS) and NEC Corp. (NIPNY) could be about to hook
up again. TD Securities analyst Mark Lucey says Celestica is looking for
regulatory approval to buy a unit of NEC in the U.K. This after NEC said
Tuesday it is in talks to sell its mobile phone production facilities in the
U.K. and Mexico. In June, Celestica acquired NEC's manufacturing plant in
Brazil as part of a five-year, $1.2 billion supply agreement. In addition,
Nokia is looking to move into Brazil and said it will use Celestica to
manufacture GSM wireless base stations after securing contract wins,
according to Lucey. (SEW)
1:43 (Dow Jones) Said U.S. Rep. Lloyd Doggett, a Democrat from Austin, Tex.:
"With a mere one-person majority of the Court and a definiite minority of the
national vote, President-elect Bush is off to a tough start. All of us have a
stake in the success of his presidency. Now is the time to join with him,
without foresaking principle, to seek common ground in addressing the
nation's needs." (JC)
1:29 (Dow Jones) The chance of a rate cut at the next FOMC meeting next week
is modest, but on the rise and helping to fuel Tsys gains, says bond
strategist. Fed Funds futures showing 15% to 20% chance of rate cut on Dec.
19, strategist says. 30-year now at session high, up 22/32 at 111 3/32, yield
down 4 bp at 5.49%. (JNP)
1:22 (Dow Jones) Prudential Vector analyst Timothy Anderson lowered Alza
(AZA) to accumulate from strong buy because of valuation. With positive
prescription trends for attention deficit hyperactivity disorder medicine
Concerta and strong market shares of overactive bladder treatment Ditropan
XL, Anderson said Alza shares are "priced for perfection and expectations are
high - any slight upset could weigh heavily on the stock." Shares fell about
8.5%. (BMM)
1:13 (Dow Jones) Online and discount broker Charles Schwab Corp. (SCH) sees
meeting the 14 cents that analysts expected for its fourth quarter earnings
per share as a challenge, unless there is a big surge in trading activity or
the firm cuts costs sharply. Schwab shares are off 2.7%. (GFC)
1:10 (Dow Jones) Enron's (ENE) current chief executive and chairman, Kenneth
Lay, says he categorically won't be taking a job in a new presidential
administration. "I have no plans to go to Washington, and no plans to leave
Houston or Enron. I can say categorically that I won't be taking a job in a
Bush cabinet," Lay said in an interview. (MPG)
1:07 (Dow Jones) Vlasic Foods International (VL) apparently has received bids
for both the entire company and individual parts, according to Merrill
Lynch's Len Teitelbaum. The troubled pickle maker has been on the block since
March. Teitelbaum says a deadline of Feb. 28 has been set by the banks
involved. He estimates stockholders could reap proceeds of 89 cents to $1.00
a share at the completion of a sale. Teitelbaum is convinced that "the main
objective of (Vlasic's) management now is to make the bondholder whole." As a
result, the analyst no longer maintains an investment opinion on the stock.
(VL)
1:00 (Dow Jones) Tech boutique Thomas Weisel Partners reiterated its buy
rating and raised its 2001 revenue projections for SonicWall (SNWL), to
$125.2 million from $106.4 million, saying the computer firewall maker's
acquisition of Phobos will boost market share in internal transaction
security as well as traditional firewall appliances. "Visibility and and
business momentum continue to be strong," said analyst Mark Edelen. (MER)
12:56 (Dow Jones) March Nasdaqs and S&Ps are incurring losses on
profit-taking, said floor traders, who were intrigued by their fall even when
it has become clear that Al Gore, whose defeat was seen as bullish for the
stock futures market, is reportedly going to concede. "There's no uncertainty
left in the market," quipped one floor trader. (ZHS)
12:40 (Dow Jones) Lehman opened up coverage on a passel of Internet
infrastructure service companies, with an outperform rating on Digex (DIGX),
Genuity (GENU) and InterNAP (INAP). Harry Blount is looking past current
turbulence in the stocks to a time of "powerful secular growth." The
companies, Blount says, "have among the most compelling business models of
any emerging growth sector in the stock market." Among the pluses he cites
are steady revenue, scalable business models and decreasing capital costs as
the companies reach critical mass.
12:21 (Dow Jones) Wounded Linux stocks rallying for second straight day after
IBM CEO Gerstner said Tuesday that Big Blue would invest $1 billion next year
commercializing the renegade operating system. After seeing their stocks drop
as much as 95% this year, Red Hat (RHAT), VA Linux, (LNUX) and Caldera (CALD)
are each up more than 20%. (MLP)
12:14 (Dow Jones) Stanley Furniture's (STLY) 4Q sales and earns warning comes
on same day that Commerce, in its retail sales report, said overall furniture
sales surged 1.5% in Nov. - biggest monthly jump in about a year. Maybe
coincidental, maybe a holiday phenom. But it's still interesting that sales
climbing amid clear signs of general earnings weakness in furniture business.
Stanley, a thinly traded stock, off 8% at 21.32. (GC)
12:10 (Dow Jones) Bond market issuance was down 25% during the first three
quarters of the year amid the Fed's interest rate hiking campaign, the Bond
Market Association says. Total issuance totaled $1.6 trillion through Sept.
to $15.6 trillion in outstanding debt. (MSD)
11:57 (Dow Jones) Veritas (VRTS) continues to feel pressure (shares down 6%)
amid concerns it will suffer from weakness in Sun Microsystems' (SUNW) server
business, which accounts for a chunk of its storage software sales. But
Merrill defends Veritas, saying it's on track to meet or exceed fourth
quarter targets and investors should use volatility to load up on Veritas.
(MLP)
11:51 (Dow Jones) A lot of news and bond friendly data today, but not any big
changes in sentiment. As tech names trade in negative territory, Treasurys
are holding a bid. But traders say flows are going both ways, suggesting that
a rebound in stocks will be enough to push Treasury prices back toward
unchanged on the day. (SV)
MARKET TALK: Technical Look at Toronto Exchange

12/13/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201 938-5299; All Times Eastern)

MARKET TALK can be found using code N/DJMT

2:20 (Dow Jones) The intraday low for Toronto's TSE 300 Index is 9103.95,
practically significant weekly support at 9103.64. The index is now pointed
up to about 9500 at least, if the intraday low holds. A daily close below
9103.64 means that the index is headed back to to the lower 8500 handle. (SC)
2:15 (Dow Jones) Lehman's Jeff deGraaf says that while he is not a big fan of
energy names currently, Ultramar Diamond Shamrock (UDS) has one of the best
looking charts in the sector. Nice base off which to rally, and shares are
above both 50-day and 200-day moving average. Stop under $26. (TG)
2:00 (Dow Jones) Tough day for Applied Materials (AMAT) and semi group.
Salomon, Merrill downgrade AMAT, and Prudential lowers estimates on company
and several other semiconductor names. Pru also has an "implied trough value"
for semi companies, and they're not pretty: AMAT $28-$27, KLAC $20-$26, KLIC
$8, LRCX $14-$18, NVLS $22-$31, and TER $15-$30. (TG)
1:45 (Dow Jones) Celestica (CLS) and NEC Corp. (NIPNY) could be about to hook
up again. TD Securities analyst Mark Lucey says Celestica is looking for
regulatory approval to buy a unit of NEC in the U.K. This after NEC said
Tuesday it is in talks to sell its mobile phone production facilities in the
U.K. and Mexico. In June, Celestica acquired NEC's manufacturing plant in
Brazil as part of a five-year, $1.2 billion supply agreement. In addition,
Nokia is looking to move into Brazil and said it will use Celestica to
manufacture GSM wireless base stations after securing contract wins,
according to Lucey. (SEW)
1:43 (Dow Jones) Said U.S. Rep. Lloyd Doggett, a Democrat from Austin, Tex.:
"With a mere one-person majority of the Court and a definiite minority of the
national vote, President-elect Bush is off to a tough start. All of us have a
stake in the success of his presidency. Now is the time to join with him,
without foresaking principle, to seek common ground in addressing the
nation's needs." (JC)
1:29 (Dow Jones) The chance of a rate cut at the next FOMC meeting next week
is modest, but on the rise and helping to fuel Tsys gains, says bond
strategist. Fed Funds futures showing 15% to 20% chance of rate cut on Dec.
19, strategist says. 30-year now at session high, up 22/32 at 111 3/32, yield
down 4 bp at 5.49%. (JNP)
1:22 (Dow Jones) Prudential Vector analyst Timothy Anderson lowered Alza
(AZA) to accumulate from strong buy because of valuation. With positive
prescription trends for attention deficit hyperactivity disorder medicine
Concerta and strong market shares of overactive bladder treatment Ditropan
XL, Anderson said Alza shares are "priced for perfection and expectations are
high - any slight upset could weigh heavily on the stock." Shares fell about
8.5%. (BMM)
1:13 (Dow Jones) Online and discount broker Charles Schwab Corp. (SCH) sees
meeting the 14 cents that analysts expected for its fourth quarter earnings
per share as a challenge, unless there is a big surge in trading activity or
the firm cuts costs sharply. Schwab shares are off 2.7%. (GFC)
1:10 (Dow Jones) Enron's (ENE) current chief executive and chairman, Kenneth
Lay, says he categorically won't be taking a job in a new presidential
administration. "I have no plans to go to Washington, and no plans to leave
Houston or Enron. I can say categorically that I won't be taking a job in a
Bush cabinet," Lay said in an interview. (MPG)
1:07 (Dow Jones) Vlasic Foods International (VL) apparently has received bids
for both the entire company and individual parts, according to Merrill
Lynch's Len Teitelbaum. The troubled pickle maker has been on the block since
March. Teitelbaum says a deadline of Feb. 28 has been set by the banks
involved. He estimates stockholders could reap proceeds of 89 cents to $1.00
a share at the completion of a sale. Teitelbaum is convinced that "the main
objective of (Vlasic's) management now is to make the bondholder whole." As a
result, the analyst no longer maintains an investment opinion on the stock.
(VL)
1:00 (Dow Jones) Tech boutique Thomas Weisel Partners reiterated its buy
rating and raised its 2001 revenue projections for SonicWall (SNWL), to
$125.2 million from $106.4 million, saying the computer firewall maker's
acquisition of Phobos will boost market share in internal transaction
security as well as traditional firewall appliances. "Visibility and and
business momentum continue to be strong," said analyst Mark Edelen. (MER)
12:56 (Dow Jones) March Nasdaqs and S&Ps are incurring losses on
profit-taking, said floor traders, who were intrigued by their fall even when
it has become clear that Al Gore, whose defeat was seen as bullish for the
stock futures market, is reportedly going to concede. "There's no uncertainty
left in the market," quipped one floor trader. (ZHS)
12:40 (Dow Jones) Lehman opened up coverage on a passel of Internet
infrastructure service companies, with an outperform rating on Digex (DIGX),
Genuity (GENU) and InterNAP (INAP). Harry Blount is looking past current
turbulence in the stocks to a time of "powerful secular growth." The
companies, Blount says, "have among the most compelling business models of
any emerging growth sector in the stock market." Among the pluses he cites
are steady revenue, scalable business models and decreasing capital costs as
the companies reach critical mass.
12:21 (Dow Jones) Wounded Linux stocks rallying for second straight day after
IBM CEO Gerstner said Tuesday that Big Blue would invest $1 billion next year
commercializing the renegade operating system. After seeing their stocks drop
as much as 95% this year, Red Hat (RHAT), VA Linux, (LNUX) and Caldera (CALD)
are each up more than 20%. (MLP)
12:14 (Dow Jones) Stanley Furniture's (STLY) 4Q sales and earns warning comes
on same day that Commerce, in its retail sales report, said overall furniture
sales surged 1.5% in Nov. - biggest monthly jump in about a year. Maybe
coincidental, maybe a holiday phenom. But it's still interesting that sales
climbing amid clear signs of general earnings weakness in furniture business.
Stanley, a thinly traded stock, off 8% at 21.32. (GC)
12:10 (Dow Jones) Bond market issuance was down 25% during the first three
quarters of the year amid the Fed's interest rate hiking campaign, the Bond
Market Association says. Total issuance totaled $1.6 trillion through Sept.
to $15.6 trillion in outstanding debt. (MSD)
11:57 (Dow Jones) Veritas (VRTS) continues to feel pressure (shares down 6%)
amid concerns it will suffer from weakness in Sun Microsystems' (SUNW) server
business, which accounts for a chunk of its storage software sales. But
Merrill defends Veritas, saying it's on track to meet or exceed fourth
quarter targets and investors should use volatility to load up on Veritas.
(MLP)
11:51 (Dow Jones) A lot of news and bond friendly data today, but not any big
changes in sentiment. As tech names trade in negative territory, Treasurys
are holding a bid. But traders say flows are going both ways, suggesting that
a rebound in stocks will be enough to push Treasury prices back toward
unchanged on the day. (SV)


Is there anything we need to get them to consent to?

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/19/2001 02:17:42 PM
To: "'gregorylang@paulhastings.com'" <gregorylang@paulhastings.com>,
"'iparker@freshfields.com'" <iparker@freshfields.com>
cc: "'kay.mann@enron.com'" <kay.mann@enron.com>, "Keffer, John"
<JKeffer@KSLAW.com>

Subject: ENA Agreement as to Forms of Agreements

 <<30b202!.DOC>>

Greg and Isabel:

Enclosed is the initial draft of a letter agreement by ENA consenting to the
form of the ENA Consent, the Promissory Note, the Security Agreement and the
Financing Statement, prepared along the same lines as the GE consent.
Please review and advise of any comments.   Thank you.

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

Enclosure 140366v2

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
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.

 - 30b202!.DOC


Drew, I'll fax you the information on the "Be a Spokesmodel...or Just Look
Like One" course they offer here in the Houston office.

	From:  Drew Fossum                           04/10/2000 03:31 PM

To: Tony Pryor/ET&S/Enron@ENRON
cc: Susan Scott/ET&S/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON

Subject: Re: TW Procedures re marketing affiliates

I'll defer to my distinguished colleagues, including the
now-quite-full-of-herself Susan Scott.  Perhaps next year we can all try to
get in the annual report!  DF

04/10/2000 11:14 AM
Tony Pryor
Tony Pryor
Tony Pryor
04/10/2000 11:14 AM
04/10/2000 11:14 AM
To: Drew Fossum/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Maria
Pavlou/ET&S/Enron@ENRON
cc:

Subject: TW Procedures re marketing affiliates

Just checking to see if anybody has any comments for me on my draft of the
petition for waiver, especially as to whether we just file revised procedures
or the petition.


POWER MARKETS 2002:  RISK AND REWARD

April 17-18, 2002 - Excalibur Hotel - Las Vegas, NV

Click Here to Download a Complete Conference Brochure:

http://www.pmaconference.com/markets2002.pdf

We will see record numbers of new powerplants coming on line this year. New, much larger RTOs promise dramatic increases in liquidity. The Enron fallout will continue to force balance sheet improvements-- perhaps more mergers and acquisitions. Price volatility will continue, and risk management techniques will continue to be honed.
Transmission and RTOs
Representatives from PJM, Cal ISO and Midwest ISO on their respective regions.

Insurance
Scott Ettien from NCM, Lynda Clemmons from Element Re and Pat Toner Goudarzi from ACE, on Credit Insurance, Weather-risk Insurance and Innovative Insurance Products, respectively

Exchanges
Monte Simpson of InterContinental Exchange and Brad Leach of NYMEX on the growth in the use of exchanges.	Credit
Susan Abbott of Moody's on evolving credit standards in our industry

Markets
Kevin T. Howell, President, Dominion Energy Clearinghouse, Dave Freeman of Panda and Mike Young of Aquila on the state of various aspects of the power markets.

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Cabell Poindexter of Wyndham Mills on job prospects! John OBrien of Skipping Stone on the outlook for Transmission! Henwood on outlook for powerplant construction! Adrian Palmer of Caminus Corp on European Markets!

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SIVY ON STOCKS from money.com
November 13, 2000

The tech wreck continues

Election chaos and lousy earnings news from companies
such as Hewlett-Packard are driving down tech stocks.
But don't rush to buy yet.

By Michael Sivy

There is no constitutional crisis. The presidential
election results will probably be sorted out within a
week, and certainly long before the electors cast
their votes on Dec. 18. Though the outcome of the
bitter fight in Florida is anybody's guess -- it
largely depends on technical legal issues -- the
lawyers I know think the chances of Al Gore getting
the count he wants are better than 50 - 50.

The electoral chaos is contributing to a decline in
the Dow and an even sharper selloff in the Nasdaq,
which was down to less than 2,900 at one point on
Monday - more than 40 percent off the March high.
Also a large factor in the selloff was Hewlett
Packard's third-quarter bomb. Although sales were up
almost 17 percent from year-earlier levels, earnings
came in 20 percent, or 10 cents a share, below analysts'
expectations. They attribute the profit shortfall
partly to the effects of the weak euro, but mostly to
expenses that were much higher than H-P expected. It
appears that to reach its ambitious sales goals, the
company let costs get out of hand.

 From a long-term perspective, there doesn't seem to
be anything seriously wrong with Hewlett-Packard's
business. With more attention to cost control, H-P's
sales might grow a little bit slower -- 15 percent
annually, say -- but profits would increase just as
fast. Trading at $34 a share, less than 17 times
earnings for the coming year, a sustainable 15
percent earnings growth rate makes H-P look extremely
cheap, and some analysts rate it a value buy. More
skeptical analysts, however, think that H-P's decline
could continue for a while. And that's my bet as
well.

The problem is that the tech group as a whole is in a
powerful downtrend. In fact, the biggest and
best-known tech stocks could be the hardest hit
between now and year end. Usually, money managers and
mutual fund executives try to finish their tax
selling by the end of October. But given the recent
uncertainty, portfolio managers may continue to cut
back on their big tech positions, hurting even such
tech blue-chips as Cisco and Oracle.

Tech stocks aren't the only ones with targets painted
on them. If Gore does gain the presidency, big drug
stocks could react quite negatively. Even though it
will be hard for Gore to do much to hurt the
industry, given the hostile and divided Congress he
would face, the drug stocks have been building in a
big Bush-victory premium over the past few
weeks -- and the group would therefore be susceptible
to a psychologically based selloff.

The investment that would likely profit most from a
Gore victory is fixed-income. He would face a
Republican Congress at least through 2002, and over
the next two years the surplus could total more than
$500 billion. With a sharply divided government, the
vast bulk of this money would go to paying down the
national debt, which could be reduced by 10 percent
to 15 percent over the two-year period. And even if
George W. Bush somehow manages to hang on, the
numbers would be similar.

Paying down the national debt is wildly bullish for
long-term Treasury bonds, and would also help the
bonds of government agencies -- like Ginnie
Mae -- and blue-chip corporations. A shrinking
national debt would likely slow the economy even
more -- it's the opposite of deficit spending after
all. That could contribute to a negative climate for
growth stocks and encourage the Fed to start lowering
interest rates at the first opportunity -- probably
early next year. The case for conservatism and
diversification has never been greater.

###

Post your comments on Michael's column at:
http://www.money.com/depts/investing/sivy/index.html

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us know by e-mailing us at <no_transfer@money.com>.


I'm forwarding to each of you a fascinating document--Langley's proposal to
the DOE.  It looks like he's already been fairly specific about the interest
that the tribes will have in the various entities and contracts.  He also
promised DOE a 10 % power cost reduction (before he even knew what they were
currently paying).  He may have made some promises that are pretty to hard to
deliver on.  Developers are amazing.  DF


Stacey,

Please find the attached May monthly power testing questions for our
meeting on Thursday.   As you discussed with Jenn Staton, we will be
reviewing the daily DPR's tomorrow morning to determine the May curve shift
reports that we would like to obtain.  Also, since earnings release has
been tentatively scheduled for July 12th, we would like to review the June
curve shift reports to date and make a portion of our June request now in
order to alleviate some of the burden on your group in July.  Let me know
if this poses any problems.

(See attached file: May Power Questions.doc)

If you have any questions, please feel free to call me at x56953.

Thank you,

Jennifer
*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If
you are not the addressee indicated in this message (or responsible for
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employer do not consent to Internet email for messages of this kind.
Opinions, conclusions and other information in this message that do not
relate to the official business of my firm shall be understood as neither
given nor endorsed by it.
 - May Power Questions.doc


---------------------- Forwarded by Tory Bracy/Corp/Enron on 12/13/99 05:14
PM ---------------------------

"Nyna K. Kent" <NK02@hou-metro.harris.tx.us> on 10/01/99 09:12:33 AM
To: Alina Bolua <AB02@hou-metro.harris.tx.us>, Angie Lathan
<apayne@galaxycable.com>, "Carla (Home)" <fordc@swbell.net>, "Debbie's Work"
<caruthers@studenthousing.com>, Evelyn Cherny <EC01@hou-metro.harris.tx.us>,
Irma Arevalo <IA01@hou-metro.harris.tx.us>, Tory Bracy/Corp/Enron@ENRON
cc:

Subject: obituary

> Kathy had just become a widow and needed to put an
> obituary in the paper about her late husband, Anthony.
>
> She called the newspaper and asked, "how much to put an
> obituary in the paper?"
>
> "The cost is $0.50 per word," said the newspaper editor.
>
> "Fine, please print "Bubba died."
>
> The startled newspaper editor explained that there was a
> 7 word minimum charge.
>
> Kathy thought for a moment, then said, "Okay, then, please
> print 'Bubba died. 1983 pickup truck for sale.'"
>


Lloyd,

Yes, I would be very interested.

Vince

Lloyd Will
10/24/2000 02:45 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: opportunities

Vince would you be interested in this professional.

I would be glad to facilitate a conference call.

Thanks.
---------------------- Forwarded by Lloyd Will/HOU/ECT on 10/24/2000 02:43 PM
---------------------------

"Sheble, G.B." <gsheble@iastate.edu> on 10/17/2000 04:52:57 PM
To: "'Lloyd.Will@enron.com'" <Lloyd.Will@enron.com>
cc:
Subject: RE: opportunities

Loyd

I tried to call yesterday, but you were out of the office.  My schedule
follows, would you want to pick a time for me to call you or send me a list
of times to pick?

Gerry

Fall 2000 Teaching Schedule
EE 553 MTWR 10 -11 AM Curtis Hall 308
ENGR 161 MW 2-4 Howe Hall 2228
Other Commitments
M 11-12 EP&ES
M 1-2 Office Hours
T 12-2 EP&ES Seminar
T 2-3 Office Hours
T 3-4 PSERC
T 5-6  EPRI-DOD
W 11-12 Office Hours
W 4-9 DSM
R 11-12 Office Hours
F 11-12 P&T
F 1-3 CAS
F 3-4 Departmental Meeting

-----Original Message-----
From: Lloyd.Will@enron.com [mailto:Lloyd.Will@enron.com]
Sent: Monday, October 16, 2000 8:00 AM
To: Sheble, G.B.
Subject: RE: opportunities

Give me a call any time to discuss things.

713-853-3383.

Thanks.

"Sheble, G.B." <gsheble@iastate.edu> on 10/15/2000 02:17:02 PM

To:   Lloyd Will/HOU/ECT@ECT
cc:
Subject:  RE: opportunities

Lloyd

I am attaching another resume for your review, please pass it along if
there
is any interest.

I would also like to discuss opportunities with you as I expect to graduate
with my MBA Summer 2001.

Cordially,

Gerry

===================================
Gerald B. Shebl,
Professor, Electrical and Computer Engineering
Director of Complex Adaptive Systems Program
1115 Coover Hall
Ames, Iowa 50011
voice: 515.294.3046
FAX: 515.294.4263
email: gsheble@iastate.edu
web: http://www.ee.iastate.edu/~sheble/
===================================


PRIVILEGED AND CONFIDENTIAL:  ATTORNEY-CLIENT COMMUNICATION, ATTORNEY WORK
PRODUCT

Matt,

Thanks for the heads-up on this issue.  I will confer with Janice and one of
us will get back to you.

Meanwhile, I think I may need further clarification about  what testing
methods were used by SGS at loadport and at discharge in Thailand and the
Phillipines.  My key area of concern is whether (as now appears unlikely from
your e-mail) SGS tested using both ASTM D3605 without ashing and ASTM D3605
with ashing at all the relevant points, and whether the test results were
consistent; e.g., whether the product was on-spec for both methods
immediately before loading, but off-spec for both methods at discharge in
Thailand and the Phillipines.  May I impose on you to provide one summary
chronology of the analysis done at loadport and both discharge ports, with
particular emphasis on (a) whether both testing methods (ASTM D3605 without
ashing and with ashing) were used, and the results, and (b) the results for
filterable dirt? (You have just sent something like this for the Thailand
cargo only, which I found very helpful).   Also, if SGS or anyone else has
made comment about the reliability or unreliability of the filterable dirt
analysis (or any other aspect of the testing done by SGS of this cargo),
please let me know about that as well.

I appreciate your good help.

    Britt

	Matthias Lee@ECT
	08/08/2000 06:39 AM

		 To: Janice R Moore/HOU/ECT@ECT, Britt Davis/Corp/Enron@ENRON
		 cc: Alan Aronowitz/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Angeline
Poon/SIN/ECT@ECT
		 Subject: D3605

Dear Janice / Britt

I know that Janice has kindly agreed to return to the team to advise and
coordinate with Mike Brown's team and myself in regard to the D3605 issue,
whilst I am to look to Britt's guidance for the contamination on the Elang
cargo. My apologies therefore for mixing the issues for the puposes of this
e-mail.

The joint testing of samples of the Elang cargo is planned to take place end
next week. The joint testing would include metals as well as filterable dirt,
so we would need to decide, in quite short order, on the test method we want
to propose for metals for relevant parties to agree.

Although we believe the contamination would be dramatically demonstrated by
the level of filterable dirt, the metals clearly would also be an important
factor. As you may be aware, the loadport sample results which we are
presently relying on to say that the cargo was on spec when loaded, was
tested with "ashing" for metals. We would not be able to say whether another
loadport sample would test on spec for metals using straight D3605. If it
doesn't test on spec at the joint testing using straight D3605, the vessel
owners would surely argue that the cargo would have been rejected by First
Gas anyway, independent of the filterable dirt. Although such as argument may
not defeat our case entirely, it is very likely to impact on the quantum we
would be able to recover.

It seems that the preferred test method for metals at the joint testing would
therefore be "ashing" to avoid conflict with existing loadport sample
results. We still have SGS's support for that, but we need to convince Minton
Treharne who acts for the cargo underwriters as well as the Owners/P&I Club.
Still, just in case details of our dispute with Mitsubishi become known to
Firts Gas, we may wish to avoid proposing a test method for joint testing
that would be inconsistent with the one we ultimately present to First Gas,
which for obvious long term objectives ought to be the CORRECT test method
acceptable to parties whether D3605 or "ashing" or some other method. That
said, I think if we are able to go with "ashing" for the joint testing, it is
not likely to jeopardize our position with First Gas.

I note Janice's preference for US experts over European experts for the D3605
issue. Have we been able to get any US experts' view on the right test to use
(whether D3605 or "ashing")? Has Enron formed a view on the "correct" test
method? If we have been able to source a "friendly" US expert, we may want to
have his input for the contamination issue.

Your views and guidance would be most appreciated.

Thanks and regards
Matt

I also note Janice's preference to source for US experts to assist us on the
D3605 issue over European experts and was wondering whether we have been able
to for


Randy:
We are still discussing internally the time period that should be specified
in the definition of Credit Support Provider.  We are not comfortable with
specifying October 2002 as the date.  What is the reason for this?  We are
trying to make this language as transaction specific as possible.  Is there
anything else that we can add to it to make it more precise?  Please call me
in the morning.  I'm in by 8:30.  Thanks.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


not yet but i will let you know

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 01/05/2001 11:08:23 AM
To: "'Eric.Bass@enron.com'" <Eric.Bass@enron.com>
cc:
Subject: RE: New Years

Eric,

Did you ever hear anything back from America West?

-----Original Message-----
From: Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent: Wednesday, December 27, 2000 9:49 AM
To: Bass, Jason
Cc: shusser@enron.com
Subject: New Years

Jason,

Shanna and I were wondering what you and Donnita were doing for New Years?

-Eric


Many thanks!

From: Suzanne Adams@ECT on 03/05/2001 11:07 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: C. Kay Mann - 2000 W2 Information

Kay, I've done the request and signed your name and faxed it out.  Let me
know if you get the W-2.  Thanks, Suz
----- Forwarded by Suzanne Adams/HOU/ECT on 03/05/2001 11:07 AM -----

	Norma Villarreal
	03/05/2001 10:58 AM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: C. Kay Mann - 2000 W2 Information

Per your request, here is the information regarding C. Kay Mann's W2.  Let me
know if you have further questions

Norma
X31545

---------------------- Forwarded by Norma Villarreal/HOU/ECT on 03/05/2001
10:42 AM ---------------------------

	Enron North America Corp.

	From:  Corporate Payroll @ ENRON                           01/26/2001 06:17 PM

Sent by: Enron Announcements@ENRON
To: All Eligible Enron Employees United States
cc:
Subject: 2000 W2 Information

The 2000 Form W-2 will be mailed to your address of record by January 31,
2001. If you have not received your form by February 20th, you may request,
in writing, for a duplicate copy to be sent to you. Please note that a
written request, including authorized signature is required.

When requesting a duplicate form, please specify the year for which you need
a copy, sign your request, and include the following information:

 Name
 Complete Mailing Address
 Phone Number
 Social Security Number

You may mail your request to:
 ENRON CORP
 EB 1528
 P O BOX 1188
 HOUSTON TX   77002

Or you may fax your request to 713-646-3755.

Your request will be processed within one week of receipt.

If you have a question regarding the information on your Form W2, please
contact the Payroll Call Center at 713-345-5555 option 1.

Thank you


Kay,  Please see the attached.  Thanks.


I received this a.m. a copy of PG&E's testimony and their proponent's
environmental assessment (PEA) on the auction.  It is a foot of paper.  Let
me know if you would like a copy.  I will be reading and summarizing it.

Tomorrow protests are due on the auction proposal.  I will forward our
protest and IEP's protest as well.


Sorry.  I just did.

DG


Linda:
I understand that Stacy will be coordinating with you tomorrow to get this
completed.  When it is done, I need for you to fax it to Harry Stout
(713-877-8006(phone))(713-877-1394 (Fax)) and Zachary May (212-310-8000 -
phone)(212-310-8007 - fax).  Thanks.

Carol


Do you think Janet wants to apply.


Anna,

I have reviewed the existing ECTRIC, Norweigan Branch HDD Swap GTC's.  In
contrast to the Financial GTC's which when read with the ETA are drafted on
the basis that the GTC's only apply if an ISDA has not been executed,  the
HDD Swap GTC's have been drafted to work in unison with the ISDA framework.
The HDD Swap GTC together with the specific documentation for each
transaction constitutes a Confirmation under the ISDA Master Agreement.   As
such every counterparty should be required to accept the GTC's regardless of
whether or not they have an ISDA Master Agreement in place.  If an ISDA
Master has been executed this will govern the HDD Swaps as modified by the
terms of the relevant GTC's.  If no ISDA Master is in place the GTC's will
govern.

I have made some drafting changes in respect of the existing HDD Swap GTC's
which I have forwarded to Mark and Justin for comments.  I will revert to you
in due course with respect to any changes.

Best regards,

Denis

Anna Gardiner
04/09/2000 09:48
To: Justin Boyd/LON/ECT@ECT, Denis O'Connell/LON/ECT@ECT
cc: Enron London - EOL Product Control Group/LON/ECT@ECT, Frank L
Davis/HOU/ECT@ECT

Subject: GTC's for weather

Justin/Denis

When we recently launched Swedish, UK, Norwegian and French weather HDD swaps
on EOL, there were three counterparties that were indicated as having ECTRIC
masters in place that would apply when trading  weather HDD swaps.  Dave
Forster's email below indicates that these masters should not be used for
weather transactions and that we should use either the GTC or a
weather-specific Master Agreement.

The counterparties that legal initially indicated as having masters in place
for weather transactions are as follows:

Morgan Stanley Capital Group Inc - ECTRIC master in place no. 96023172
J.Aron & Company - ECTRIC master in place no. 96033708
The Chase Manhatten Bank - ECTRIC master in place no. 96040163

Please could you confirm (as Dave states below) that these master agreements
should not apply for trading weather HDD swaps and that the above mentioned
counterparties should really have a weather-specific master in place or be
asked to accept the applicable GTCs online.

For your information I have attached the original counterparty profile list
reviewed by Edmund.  The master agreement numbers that are crossed out are
those masters that were applicable when the legal entity for HDD Swaps was
ENA. The legal entity is now ECTRIC, Norwegian Branch.

Please could you advise me as soon as possible.

Thanks

Anna

---------------------- Forwarded by Anna Gardiner/LON/ECT on 04/09/2000 09:23
---------------------------

Amita Gosalia
04/09/2000 08:19
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc:

Subject: GTC's for weather

Guys

Can you please check for our weather products.

A
---------------------- Forwarded by Amita Gosalia/LON/ECT on 04/09/2000 08:21
---------------------------
From: David Forster@ENRON on 01/09/2000 14:21 CDT
To: Frank L Davis/HOU/ECT@ECT
cc: Mark Dilworth/LON/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Amita
Gosalia/LON/ECT@ECT

Subject: GTC's for weather

It has come to my attention that when we have a Financial Master Agreement in
place, we have identified that a Master exists for the Weather Products.

This is not correct as the ISDA Masters do not properly cover weather. For
Weather transactions, we need to use either the GTC or a weather-specific
Master Agreement.

Frank: Could you please arrange to identify which companies have already
transacted on weather and have done so ostensibly under an ISDA?  Could you
please also coordinate with Mark as necessary to update Customer Profiles so
that customers with ISDA's will need to accept GTC's?

If we have customers who have ostensibly transacted already under their
ISDA's, let's identify who they are and then decide on a course of action for
their profiles.

Thanks,

Dave


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I will be working from home the rest of the day.   My work number will be
forwarded to my cell phone.  My home number is 281 866 8797.  If you want to
email me please copy me at my home email address as well which is
"bhendry@houston.rr.com".  My home fax number is 832 249 8654.  My cell
number is 832 368 3286.


Scott,

Just a quick note.  I believe you did a great job this afternoon in communicating with your group about Enron's "cluster."
Today I have found this overwhelming since of Pride for this company and I don't want it to fail.  So if there is ANYTHING I can do to help please let me know.  I am in for the challenge and the long haul.

Sincerely,
Sandra


At Lisa Mellencamp's request I am sending you the amendment agreements that
we have drafted with respect to the physical and financial masters between
KCS and Enron.  Drafts of these agreements were sent to Harry Stout earlier
this week and some changes have been made since then.  I am enclosing both
clean and marked copies.  If you have any questions, please call me or Lisa.
My number is 853-3989.
Carol