Are these Enron employees?
----- Forwarded by Jon Trevelise/Houston/Eott on 10/24/2001 09:44 AM -----

	Robin Border 10/24/2001 08:28 AM 	   To: Lance Nash/Houston/Eott@Eott, Joe Richards/Houston/Eott@Eott, Jon Trevelise/Houston/Eott@Eott, Molly Sample/Houston/Eott@Eott, Susan Ralph/Houston/Eott@Eott  cc:   Subject: Darwin Awards

>It's that time again.....  They are finally out again.
>
>You all know about the Darwin Awards - It's  an annual honor given to
>the person who did the gene pool the biggest  service by killing
>themselves in the most extraordinarily stupid way. Last  year's winner
>was the fellow who was killed by a Coke machine which toppled  over on
>top of him as he was attempting to tip a free soda out of it.
>
>And the nominees are:
>
>9. A young Canadian man,  searching for a way of getting drunk
>cheaply, because he had no money with  which to buy alcohol, mixed
>gasoline with milk. Not  surprisingly, this concoction made him ill,
>and he vomited into the  fireplace in his house. This resulting
>explosion and fire burned his house  down, killing both him and his
>sister.
>
>8. A  34-year-old white male found dead in the basement of his home
>died of  suffocation, according to police. He was approximately 6'2"
>tall and weighed  225 pounds. He was wearing a pleated skirt, white
>bra, black and white  saddle shoes, and a woman's wig. It appeared
>that he was trying to create a  schoolgirl's uniform look. He was also
>wearing a military gas mask that had  the filter canister removed and
>a rubber hose attached in its place. The  other end of the hose was
>connected to one end of a hollow wooden tube  approx. 12" long and 3"
>in diameter. The tube's other end was inserted into  his rectum for
>reasons unknown, and was the cause of his suffocation. Police  found
>the task of explaining the circumstances of his death to his family
>very awkward.
>
>7. Three Brazilian men were flying  in a light aircraft at low
>altitude when another plane approached. It  appears that they decided
>to moon the occupants of the other plane, but lost  control of their
>own aircraft and crashed. They were all found  dead in the wreckage
>with their pants around their ankles.
>
>6.  A police officer in Ohio responded to a 911 call. She had no
>details before arriving, except that someone had reported that his
>father was not breathing. Upon arrival, the officer found the man
>face  down on the couch naked. When she rolled him over to check for a
>pulse and  to start CPR, she noticed burn marks around his genitals.
>After the  ambulance arrived and removed the man - who was declared
>dead on arrival at  the hospital - the police made a closer inspection
>of the couch, and noticed  that the man had made a hole between the
>cushions. Upon flipping the couch  over, they discovered what had
>caused his death. Apparently, the man had a  habit of putting his penis
>between the cushions, down into the hole and  between two electrical
>sanders (with the sandpaper removed, for obvious  reasons).
>According to the story, after his orgasm the discharge shorted out
>one of the sanders, electrocuting him.
>
>5. A  27-year-old French woman lost control of her car on a highway
>near  Marseilles and crashed into a tree, seriously injuring her
>passenger and  killing herself. As a commonplace road accident, this
>would not have  qualified for a Darwin nomination, were it not for the
>fact that the  driver's attention had been distracted by her Tamagotchi
>key ring, which had  started urgently beeping for food as she drove
>along. In an attempt to press  the correct buttons to save the
>Tamagotchi's life, the woman lost her own.
>
>4. A 22-year-old Reston, VA, man was found dead after  he tried to
>use octopus straps to bungee jump off a 70-foot railroad  trestle.
>Fairfax County police said Eric Barcia, a fast-food worker, taped a
>bunch of these straps together, wrapped an end around one foot,
>anchored  the other end to the trestle at Lake Accotink Park, jumped
>and hit the  pavement. Warren Carmichael, a police spokesman, said
>investigators think  Barcia was alone because his car was found
>nearby.
>"The length of the  cord that he had assembled was greater than the
>distance between the trestle  and the ground," Carmichael said. Police
>say the apparent cause of death was  "Major trauma."
>
>3. A man in Alabama died from  rattlesnake bites. It seems that he
>and a friend were playing a game of  catch, using the rattlesnake as a
>ball. The friend, no doubt a future Darwin  Awards candidate, was
>hospitalized.
>
>2. Employees  in a medium-sized warehouse in west Texas noticed the
>smell of a gas leak.  Sensibly, management evacuated the building
>extinguishing all potential  sources of ignition; lights, power, etc.
>After the building had been  evacuated, two technicians from the gas
>company were dispatched. Upon  entering the building, they found they
>had difficulty navigating in the  dark. To their frustration, none of
>the lights worked.
>Witnesses later  described the sight of one of the technicians
>reaching into his pocket and  retrieving an object that resembled a
>cigarette lighter. Upon operation of  the lighter like object, the gas
>in the warehouse exploded, sending pieces  of it up to three miles
>away.
>Nothing was found of the technicians, but  the lighter was virtually
>untouched by the explosion. The technician  suspected of causing the
>blast had never been thought of as 'bright' by his  peers.
>
>
>And the  winner ...
>
>The Arizona Highway Patrolman came upon a pile of smoldering  metal
>embedded into the side of a cliff rising above the road at the apex
>of a curve. The wreckage resembled the site of an airplane crash, but
>it  was a car.
>The type of car was unidentifiable at the scene. The lab finally
>figured out what it was and what had happened. It seems that a guy
>had  somehow gotten hold of a JATO unit (Jet Assisted Take Off -
>actually a solid  fuel rocket) that is used to give heavy military
>transport planes an extra  "push" for taking off from short airfields.
>He had driven his Chevy Impala  out into the desert and found a long
>and straight stretch of road.  Then he attached the JATO unit to his
>car, jumped in, got up some speed and  fired off the JATO! The facts
>as best as could be determined are that the  operator of the 1967
>Impala hit the JATO ignition at a distance of  approximately 3.0 miles
>from the crash site. This was established by the  prominent scorched
>and melted asphalt at that location. The JATO, if  operating properly,
>would have reached maximum thrust within 5 seconds,  causing the Chevy
>to reach speeds well in excess of 350 mph and continuing  at full
>power for an additional 20-25 seconds. The driver, and soon to be
>pilot, most likely would have experienced G-forces usually reserved
>for  dog fighting F-14 jocks under full afterburners, causing him to
>become  insignificant for the remainder of the event. However, the
>automobile  remained on the straight highway for about 2.5 miles (15-20
>seconds)before  the driver applied and completely melted the brakes,
>blowing the tires and  leaving thick rubber marks on the road surface,
>then becoming airborne for  an additional 1.4 miles and impacting the
>cliff face at a height of 125 feet  leaving a blackened crater 3 feet
>deep in the rock. Most of the driver's  remains were not recoverable;
>however, small fragments of bone, teeth and  hair were extracted from
>the crater and fingernail and bone shards were  removed from a piece
>of debris believed to be a portion of the steering  wheel.
>
>Epilogue: It has been postulated that this moron nearly reached  Mach
>I, attaining a ground speed of approximately 420 mph. Voila'.


Richard:

Please do not forward the Project Stanley email that we sent to you earlier
today.

I am making some revisions and will forward the revised document out to you
and the others.

Thanks.


Thanks for forwarding on the MSJ opinion.  Any objection to my sending it on
to our US counsel (Sullivan & Cromwell) who are coordinating many of these
issues for us?


NDA for COMYSY Information Technology Services, Inc.

-----Original Message-----
From: Tubach, Nick
Sent: Friday, October 05, 2001 9:04 AM
To: Jones, Tana
Subject: FW: NDA

Hi Tana,

I was told to pass this NDA info (below) to you.  Would you please email this to Vince Cook at his email address noted below with a cc to me?  Please let me know if you have any questions.

Thank you.

Nick

-----Original Message-----
From: Cook, Vincent [mailto:vcook@comsys.com]
Sent: Thursday, October 04, 2001 6:17 PM
To: Tubach, Nick
Subject: RE: NDA

Nick,
Assume you will send a soft copy so I can forward to legal for review.
Thanks,
Vince

COMSYS Information Technology Services, Inc.
4400 Post Oak Parkway
Suite 1800
Houston, TX 77027

Contact:  Vincent E. Cook, Senior Vice President & General Manager - West
Division

-----Original Message-----
From: Tubach, Nick [mailto:Nick.Tubach@enron.com]
Sent: Thursday, October 04, 2001 3:33 PM
To: Cook, Vincent
Subject: NDA

Hi Vince,

It was good to talk to you today.  I need the following for the NDA:
Exact legal name
Corp Address
Contact (if other than you) and title

Hopefully we can strike a mutually fruitful relationship.

Talk to you soon,
Nick

P.S.
Also, just a couple of suggestions for your web site team.
1.  Get rid of the "boing" mouseovers on the main page.That's awful!
2.  Under "Contact" it should be more than a form to email in.  Add
contact information.

Just my thoughts.  I liked your previous site (from a user-friendliness
perspective) better.

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Just FYI.  I got a call from Liz Orr [Wildhorse] who said per her acctg group
we have been flowing around 2,700 mcf/d for October and November.   Per the
production spreadsheet from Jim/Dan, the production has been around 3,000
mcf/d +/- 50 mcf/d for both months.  This is the same as 3,200 mmbtu/d [Btu
factor is 1.06 to 1.07].  Our nom on Wildhorse has been 3200 mmbtu/d.

I just found out that our nom on Wildhorse s/b in mcfs, not in mmbtus.  So,
that will confuse matters.  Per Wildhorse we have an imbalance of 500 per day
[3,200 mcf/d nom vs actuals of 2,700 mcf/d] - 16,000 for Oct.  Thus, per
Wildhorse, we need to reduce the nom to around 2,200 mcf/d in order to come
back in line.   The concern with reducing the nom should not affect the VPP
volumes, but it will affect the excess volume [pricing] because for the month
of November, Paul Lucci has sold the 3,200 mmbtu/d as baseload.  Stacy Brewer
[ENA scheduler] will discuss with Paul.  Thus, if we reduce our nom, it will
affect his baseload market and he will have to go out and buy gas in order to
keep his market whole, and prices have gone up mid month.  [Mark Whitt - I
know this is mixing mcfs and mmbtus and in reality it's not as simply stated
as above].

In discussions with Jim, Dan Reineke [sp?] will get Wildhorse's actuals from
their acctg group, then he will reconcile his numbers with theirs, and come
up with the final actual numbers.  Apparently that will take him about a
day.  So, we need to wait til actuals get reconciled in order to figure out
what our imbalance is.  We do need to reduce our nom from 3,200 mcf/d to
3,000 mcf/d, but Liz said to hold off on that for now.

Per disc with Jim Osborne and Liz Orr, 11/15 pm.

joan

---------------------- Forwarded by Joan Quick/HOU/ECT on 11/15/2000 03:54 PM
---------------------------
From: Joan Quick on 11/15/2000 03:55 PM
To: Stacey J Brewer/HOU/ECT@ECT
cc:
Subject: liz orr

hey,

per my ops guy, he will get wildhorse's actuals from their acctg group, then
he will reconcile his numbers with theirs, and come up with the final actual
numbers.  apparently that will take him about a day.  he still says we flowed
3,000 mcf/d +/- 50 mcf/d for both months.  i suppose we will know more
tomorrow.

i left liz a voicemail stating the above.
joan

---------------------- Forwarded by Joan Quick/HOU/ECT on 11/15/2000 03:37 PM
---------------------------
From: Joan Quick on 11/15/2000 03:37 PM
To: Stacey J Brewer/HOU/ECT@ECT
cc:
Subject: liz orr

just spoke with liz. first of all, our noms s/b in mcf, not in mmbtu.  so, we
s/b noming around 3,000 mcf/d on wildhorse.  i'm not sure how you transfer
from mcf to mmbtu in selling it for paul.  you know what i mean?  so, i
suppose we need to reduce the wildhorse nom from 3200 [or so] to 3000 mcf.  i
mentioned this to liz, and she said to wait, she's going to check things
out.  i also told her my operations people insist that the production is and
has been around 3000 mcf [not 2700].  she again said to wait and she's going
to check with her acctg group to make sure they've got all the charts and to
try to figure out why the discrepancy.  so, we're on hold, but i do for sure,
foresee that you will need to lower the nom to 3000 mcf, but this is the same
as 3200 mmbtu [btu factor is 1.06 to 1.07], which should not affect paul.

just fyi. i will be out of the office next week.
thanks.

---------------------- Forwarded by Joan Quick/HOU/ECT on 11/15/2000 03:19 PM
---------------------------
From: Joan Quick on 11/15/2000 03:13 PM
To: Stacey J Brewer/HOU/ECT@ECT
cc:
Subject: liz orr

i have 2 messages into liz - her voicemail does say she will be out for a
couple hours today.  i spoke with our operations person, and he is saying the
total flow has been around 3,000 mcf/d, and using mmbtu it's higher.  so, he
has no idea where she's getting that 2700 mmbtu/d number.  i have calls into
her to discuss.

joan


Any thoughts/comments to Nora Dobin's January 9th email?  Please advise.
(Also, let me know if you need another copy).
Thanks.
Jordan


-----Original Message-----
From: 	Herndon, Rogers
Sent:	Thursday, November 15, 2001 9:05 AM
To:	Presto, Kevin M.; Sturm, Fletcher J.
Subject:	FW: rh

Interesting article below about Calpine and others' 0 coupon convertible bonds with put options - due April '02.  This is ugly.

RH

-------------------

Fortune
November 26, 2001
SECTION: FEATURES/TOXIC BONDS; Pg. 131
LENGTH:  2242 words
HEADLINE: Headed For A Fall;
Companies issued special  zero-coupon bonds, assuming they'd never have to
pay them off. Now  shareholders could be on the hook for a $ 65 billion tab.
BYLINE: Janice  Revell
BODY:
It was an irresistible proposition: Borrow  billions of dollars,
pay no interest, reap millions in tax breaks, and then  wait for
the debt to simply disappear. That was the promise of
zero-coupon convertible bonds, and companies from Enron to
Merrill Lynch  binged on what seemed like free money.
But, of course, there was a  catch: For this scenario to play out,
a company's stock price had to rise  sharply--and quickly. That's
because investors bought the bonds in the hope  of converting them
into equity--if the stock tanked, the bonds would no  longer be
worth converting. So to make them more attractive to buyers,
companies had to build in an escape hatch: If the stock price
failed to  rise sufficiently, investors could "put" (that is,
sell) the bonds back to  the company--in many cases, after just one
year.
And that's exactly  what's about to happen--to the tune of some
$ 65 billion over the next three  years. Stock prices have fallen
so far that for at least half of these  special hybrids, the
prospect of conversion is now absurd. It simply won't  happen. So
bondholders are looking to get their money back the first chance
they can. And because of the put feature, that is possible.
Suddenly  companies like Tyco, Comcast, and dozens more are on
the hook for billions  of dollars in debt and interest they
thought they'd never have to pay.
That could be very bad news for shareholders of these companies.
After all, they're the ones who are going to be picking up the
tab when  all that debt comes due. Huge chunks of cash will
disappear from balance  sheets to repay bondholders. Companies
without enough cash--and the majority  fall into this camp--are
likely to face skyrocketing interest charges when  they borrow
money anew. That means sharply reduced earnings. Especially at
risk are investors in companies with poor credit ratings--prime
candidates for killer refinancing costs. Some companies may even
be  forced to issue stock to pay off the debt, creating
significant shareholder  dilution, especially at current
depressed prices. To make matters worse,  this is happening at a
time when the economy is barreling downhill and  corporate
profits are already shrinking. "This is a ticking time bomb,"
warns Margaret Patel, manager of the Pioneer High Yield Bond
fund, a  top-performing junk fund.
The seeds of this mess were sown in mid-2000,  when the stock
market started to falter. Companies in search of capital  balked
at the thought of selling stock while their share prices were
struggling. Zero-coupon convertible bonds presented an
attractive  alternative because companies didn't have to make
cash interest payments on  the bonds (hence the name "zero").
Instead issuers offered an up-front  discount--for instance,
investors would buy a bond for $ 700 and collect $  1,000 when it
matured.
Companies also gave investors the right to  convert the bonds
into a fixed number of common shares. But the bonds were
structured so that conversion would make sense only if the stock
price  rose significantly--in many cases, by more than 50%. With
that protective  feature (called the conversion premium), zeros
took off. Corporate issuers  would pay no interest, and once
their stock prices had climbed back to  acceptable levels, the
debt would be swept away into equity. "If the bonds  are
converted, it's a home run for everybody," says Jonathan Cohen,
vice  president of convertible-bond analysis at Deutsche Bank.
That  four-bagger, of course, depends entirely on the stock price
rising. If it  doesn't, the bondholders, armed with that handy
put feature, can simply sell  the bonds back to the company.
Great for bondholders, but not so hot for the  company or its
shareholders. But, hey, what are the odds of that happening?
"CFOs and CEOs believe that their stock will just continue to go
up,"  says Cohen. "They don't worry about the bond getting put."
If all this  seems a little complicated, that's because it is. A
real-life example should  help. California-based electric utility
Calpine issued $ 1 billion in zeros  in April to refinance
existing debt. At the time, the company's stock was  trading at
about $ 55 a share--severely undervalued in the opinion of
company management. "We really didn't want to sell equity at
that  point," says Bob Kelly, Calpine's senior vice president of
finance. So the  company instead opted to sell zeros, setting the
conversion premium at a  hefty 37%.
Still, with no cash interest payments and a stock price that  had
to rise significantly to make conversion worthwhile, the bonds
weren't exactly a screaming buy for investors. So Calpine added
the put  feature: Investors could sell the bonds back to the
company after one year  at the full purchase price, eliminating
any downside risk.
Things  haven't exactly worked out as management had hoped. The
stock has since  plummeted to $ 25, and it now has to triple
before conversion makes sense.  So it's looking as though Calpine
will be liable for the $ 1 billion in  borrowed money when
investors get the chance to put the bonds this April.  There's
also the refinancing cost. According to Kelly, Calpine's
borrowing rate could run in the neighborhood of 8.5%--an extra
$ 85  million per year in cash. "Obviously, nobody plans for their
stock to go  down," Kelly says. "I don't think there was one
person around who thought  the bond would be put."
Calpine's potential costs are particularly high  because its
credit rating is straddling junk. "If you are a borderline
investment-grade company, a financing of this nature is not
necessarily  the most appropriate thing in the world," notes
Anand Iyer, head of global  convertible research at Morgan
Stanley. The problem is, there are a slew of  companies with far
worse credit ratings out there: Jeff Seidel, Credit  Suisse First
Boston's head of convertible-bond research, estimates that  about
half of all zeros outstanding fall into the junk category. And
others are at risk of having their ratings downgraded before the
put  date. Today, with junk yielding as much as 5 1/2 percentage
points above  bonds rated investment grade, refinancing can be a
pricey proposition.
Contract manufacturer Solectron is one that could well get hit
by  the high price of junk. It has $ 845 million in zeros that it
will probably  have to buy back this January, and another $ 4.2
billion coming down the  pike over the next couple of years.
Because of slower-than-expected sales,  the company was recently
put on negative credit watch by three rating  agencies. And if
Solectron's credit is downgraded, the zeros would slide  into
junk status, a situation that could cost the company--and its
shareholders--tens of millions of dollars in refinancing charges.
Refinancing isn't the only worrisome cost associated with these
zeros. Companies pay hefty investment banking fees to sell their
bonds--up to 3% of the amount raised. If the debt is sold back,
many  will have spent millions for what essentially amounted to a
one-year loan.  "They're getting bad advice," claims one banker
who didn't want to be named.  "Look at the fee the banker earned
and look at the kind of financing risk  the company got into."
As if those potential consequences were not scary  enough,
shareholders can also get whacked when the bonds are first
issued. That's because some 40% are bought by hedge funds, which
short  the company's stock (sell borrowed shares with the
intention of buying them  back at a lower price) at the same time
that they buy the bonds. If the  stock goes down, the shorts make
money from their position. If it goes up,  they profit by
converting the bond to stock. This hedging strategy almost
always causes the stock to plummet, at least for a while.
Grocery chain  Supervalu, for example, recently lost 10% of its
market cap the day it  announced it was issuing $ 185 million in
zeros.
Despite all the  pitfalls, the love affair with such Pollyanna
bonds continues, thanks in  large part to the slick tax and
accounting loopholes they provide. In fact,  the hit on earnings
per share can be the lowest of any form of financing.  Even
better, thanks to a wrinkle in the tax code, companies can rake
in  huge tax savings by deducting far more interest than they're
actually  paying. All they have to do is agree to pay small
amounts of interest if  certain conditions prevail. Verizon
Communications, for instance, would pay  0.25% annual interest on
its $ 3 billion in zero bonds if its stock price  falls below 60%
of the issue's conversion price. In the eyes of the IRS,  oddly,
that clause enables the company to take a yearly interest
deduction, for tax purposes, of 7.5%--the same rate it pays on
its  regular debt. (Why? Trust us, you don't want to know.) That
adds up to an  annual deduction of more than $ 200 million, even
if Verizon never shells  out a dime in interest. Not
surprisingly, more than half of the zeros issued  in 2001 contain
similar clauses. "It's an incredible deal for them," says  Vadim
Iosilevich, who runs a hedge fund at Alexandra Investment
Management. "Not only are they raising cheap money, they're also
doing  tax arbitrage."
So despite the enormous risks to shareholders, companies
continue to issue zeros at a steady clip: According to
ConvertBond.com,  seven new issues, totaling $ 3.5 billion, have
been sold since Oct. 1 alone.  "I think the power of the tax
advantage is going to keep them around," says  CSFB's Seidel.
Call it greed or just blind optimism that the markets will
recover quickly--it doesn't really matter. Either way, it's the
shareholders who'll be left paying the bill.


IT IS RAINING!!!  I hope it is raining at the house.  It looks like it
probably is raining all over town.  Hope you get some there.

Neil's address is nmann@erac.com.  Paige's address is
recordp@southwestern.edu.  She can get her email from Houston (don't ask me
how).

We had a great time this weekend, too.  I'm glad it worked out so well.  I
thought it was very relaxing.  I would love to have the recipe for the beef.

I will probably go to North Carolina Wednesday, returning Thursday or Friday.

Take care!

Love,

Kay


I expected 1.  I guess they have less motivation to keep him happy now.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Tuesday, June 26, 2001 1:21 PM
To:	Miller, Don
Subject:	RE: Zisman
Sensitivity:	Confidential

Happy?
---------------------- Forwarded by Louise Kitchen/HOU/ECT on 06/26/2001 01:20 PM ---------------------------
From:	Mark E Haedicke/Enron@EnronXGate on 06/26/2001 11:27 AM
To:	Louise Kitchen/HOU/ECT@ECT
cc:

Subject:	RE: Zisman

He was ranked as a 2.   Mark

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Tuesday, June 26, 2001 9:04 AM
To:	Haedicke, Mark E.
Subject:	Zisman

Apparently, Stuart still gets ranked under Legal this time - do you have an idea of where he will rank out
Thanks
Louise


LaureL:  Please let me know where you end up (ENA, Enron Corp., ECT
Investments) so that I can be clear in Lotus Notes and the files for future
reference.  Thanks.  Sara


Over the past few weeks, we have not been receiving information from the risk
management groups on a timely basis.    This memo serves to convey our
deadlines to you and to reiterate deadlines for the risk management group.

Our reporting is as follows (Houston time):

7:45 - posting of preliminary DPR to website (needed to be done prior to RAC
8am meeting)
7:45 - 2:00 - preparation of the violation/notification memos
2:00 - finalization of the DPR & memos

In order to meet these deadlines we need the risk management departments to
meet the following deadlines (Houston time):

before leaving to go home (Houston): officialization of books (to ensure
information is captured in VAR engine and Credit AGG)
4:00 (London):  officialization and sending of feeds to IT
7:20 (all): export of preliminary information
7:20-3:00: support on explanations of violations/notification memos
11:00 (London only): export of final information (needed at that time for
Merchant Asset group)
12:00 (Houston only): export of final information

Everyday at least one group misses the deadline, which is unacceptable.
Please ensure deadlines are met going forward.  Remember, the DPR cannot go
out until all information is received and final so one group holds up the
whole process.

Thank you,

Shona Wilson


Non-smoking.

Suzanne Adams
09/27/99 12:14 PM
To: Alan Aronowitz/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Peggy
Banczak/HOU/ECT@ECT, Sandi M Braband/HOU/ECT@ECT, Teresa G
Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT,
Barton Clark/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Shonnie
Daniel/HOU/ECT@ECT, Peter del Vecchio/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT, Chris Gaffney/HOU/ECT@ECT,
Barbara N Gray/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT,
Dan J Hyvl/HOU/ECT@ECT, Monica Jordan/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT,
Travis McCullough/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Janet H
Moore/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT,
Gerald Nemec/HOU/ECT@ECT, Doug Pedigo/HOU/ECT@ECT, David Portz/HOU/ECT@ECT,
Michael A Robison/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT,
Mark - ECT Legal Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van
Hooser/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT, Stuart
Zisman/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Genia FitzGerald/HOU/ECT@ECT,
Susan Flynn/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT, Marie Heard/HOU/ECT@ECT,
Ed B Hearn III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Mary Ogden/HOU/ECT@ECT, Debra
Perlingiere/HOU/ECT@ECT, Robert Walker/HOU/ECT@ECT, Kay Young/HOU/ECT@ECT,
Merrill W Haas/HOU/ECT@ECT, Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Peter Keohane/CAL/ECT@ECT, Michael R Brown/LON/ECT@ECT, Karen E
Jones/HOU/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT,
Anita Fam/SIN/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Erica Braden/HOU/ECT@ECT,
Scott Sefton/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT, Paul Simons/LON/ECT@ECT,
Lou Stoler/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, David Mims@Enron, Laurie
Mayer/HOU/ECT@ECT, Greg Johnston/CAL/ECT@ECT
cc:
Subject: Smoking/Non-Smoking Rooms

Please advise which type of room you would prefer.  Thanks, Suzanne


Mark,  Attached are the letter agreement and Purchase and Sale Agreement.
Please review.  Note there is a blank date in the letter agreement which
needs to be provided.  If OK I will forward to TW.


I ran it by Mark and he has no strong feeling one way or another about the
comma thing, so whatever you prefer.

	Cheryl Johnson@ENRON
	02/26/2001 02:01 PM

		 To: Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 cc: Bill D Hare/HOU/ECT@ect, Marilyn Colbert/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT
		 Subject: Re: Minerals Management Service

Hi Mark and Tana,

I called the Dept. of the interior and was subsequently given the number to
the Director's office.  I was told that anyone there could help me. and I
asked the woman who answered the phone what the legal name is.  She stated
that the legal name is Minerals Management Service.  I asked if U.S. Dept. of
Interior should be included as part of the legal name.  She said that it
should appear as follows:

       U.S. Department of the Interior
       Minerals Management Service

I'm about to make the correction in Global Counterparty.   Do you have any
objection to putting a comma between them, because we do not have 2 lines to
set it up in GCP as written above?

Cheryl x33103

From: Tana Jones@ECT on 02/21/2001 01:57 PM
To: Cheryl Johnson/Corp/Enron@Enron
cc: Mark Taylor/HOU/ECT@ECT

Subject: Re: Minerals Management Service

Per the directions of Sam Schott, I am forwarding this email on to you.  I
discussed the counterparty name "Minerals Management Service" with my boss,
Mark Taylor, General Counsel of ENA, and he agreed that agencies and
departments of the US government should have the correct governmental
agency/department as part of the counterparty name.  You could say "Minerals
Management Service" is a dba for the US Department of the Interior.  We
generally do not like to contract with dbas, we want the legal entity as part
of the name.  A more appropriate name for this counterparty is "US Department
of the Interior Minerals Management Service".  The way the exposure rolls up
under the GCP System is an exposure issue, not a contract issue.  If you
disagree with this assessment, please call Mark Taylor at x37459.
----- Forwarded by Tana Jones/HOU/ECT on 02/21/2001 01:39 PM -----

	Samuel Schott
	02/21/2001 10:12 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Cheryl Johnson/Corp/Enron@Enron
		 Subject: Re: Minerals Management Service

Hi Tana,

I tend to agree with you, however, that's the verified name in the GCP
System. Exposure roll-up should be fine, being that it's Ultimate Parent is
the Government of the United States. If you have proof of a CP Name
discrepancy, it should be directed to Global SAP (Cheryl Johnson, x3-3101).

Have a Great Day Tana !!

Samuel x3-9890
(GCP_Enron Networks)

From: Tana Jones on 02/21/2001 09:14 AM
To: Samuel Schott/HOU/ECT@ECT
cc:
Subject: Re: EOL approvals, 2-20-01 _ GCP Response

I'm not so sure I agree with your name change for US Department of the
Interior.  I think as part of the name we've got to have that it's a govt
agency.  Anything else would be misleading to what it actually is.  I think
more appropriate would be United States Department of the Interior, Minerals
Management Service.

	Samuel Schott
	02/20/2001 05:43 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT,
David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Cynthia
Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT, Enron Europe Global Contracts
and Facilities@ENRON, Enron Europe Global CounterParty/LON/ECT@ECT, Stephanie
Sever/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Claudia Clark/HOU/ECT@ECT, William
S Bradford/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron,
Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT, Paul Maley/LON/ECT@ECT,
Sonya Clarke/LON/ECT@ECT, Lee Munden/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/HOU/ECT@ECT, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications@ENRON, EOL Call Center@ENRON
		 cc:
		 Subject: Re: EOL approvals, 2-20-01 _ GCP Response

GCP adjustments highlighted in red.

Rgds.

Samuel x3-9890
(GCP_Enron Networks)

Walter Guidroz@ENRON
02/20/2001 05:24 PM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Cynthia Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe
Global Contracts and Facilities, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT,
Claudia Clark/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Lisa
Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron,
Trang Le/HOU/ECT@ECT, Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Lee
Munden/LON/ECT@ECT, Tim Davies/LON/ECT@ECT, Karen O'Day/NA/Enron@Enron, Tanya
Rohauer/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Brian Lindsay/Enron
Communications@Enron Communications, EOL Call Center
cc:
Subject: EOL approvals, 2-20-01

Please see attached.


I may be wrong, but I believe the version sent to day is the same one I sent
to Rose, Lisa et al on April 24.

Kay

"Thompson, Peter J." <pthompson@akllp.com> on 05/01/2001 12:40:33 PM
To: "Williams, Bill" <Bill.Williams@enron.com>, "Mann, Kay"
<Kay.Mann@enron.com>, "THOMAS CONSTANTINE" <TCONSTAN@LLGM.COM>
cc: "Rasmussen, Dale" <Dale.Rasmussen@enron.com>, "Engeldorf, Roseann"
<Roseann.Engeldorf@enron.com>, "Bills, Lisa" <Lisa.Bills@enron.com>

Subject: RE: LV Co Gen

I have already incorporated Lee's comment in a new Version 7.  I am just
waiting for any additional comments.

-----Original Message-----
From: Williams, Bill [mailto:Bill.Williams@enron.com]
Sent: Tuesday, May 01, 2001 1:36 PM
To: Mann, Kay; THOMAS CONSTANTINE
Cc: Rasmussen, Dale; Thompson, Peter J.; Engeldorf, Roseann; Bills, Lisa
Subject: RE: LV Co Gen

Kay - I just checked the April 24th draft.  The addition is not there
now, and it need to be.  By this e mail, Tom and Peter, please
incorporate those comments.

>  -----Original Message-----
> From:    Mann, Kay
> Sent:   Tuesday, May 01, 2001 10:12 AM
> To:   THOMAS CONSTANTINE
> Cc:   Mann, Kay; Williams, Bill; Rasmussen, Dale; pthompson@akllp.com;
> Engeldorf, Roseann; Bills, Lisa
> Subject:   RE: LV Co Gen
>
>
> I sent this email from GE to Dale/Bill after I received it.  Since
> Peter's last draft was April 24, I'm I assume this wasn't included:
>
>
>
>
>
> Kay/Bill,
>
> Bill says he agrees and accepts our comments to the A&A.
>
> One change required to the Rev 5 document.  In Exhibit B, Add item
> "27)One
> additional Human Machine Interface (HMI) per Unit (desktop PC type)"
>
> Include these changes and we can get this done tomorrow.
>
> Thanks,
>
> Lee


Hi Laine,
 I am going to set up a conference call for you, Christaan, John Novak, our
outside counsel John Gardiner and me to discuss the force majeure
investigation and the process to follow to assure that any record created
supports our litigation strategy and position, and that we keep
communications about the investigation privileged.  Are you and Christaan
available Monday or Tuesday?  A half hour should be plenty.
Hope you are both doing well.
Kind regards,
Michelle
---------------------- Forwarded by Michelle Blaine/ENRON_DEVELOPMENT on
02/09/2001 04:59 PM ---------------------------

Michelle Blaine
02/08/2001 06:38 PM
To: Richard A Lammers/SA/Enron@Enron, Laine.A.Powell@enron.com, John
Novak/SA/Enron@Enron, Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Felipe Ospina/NA/Enron@ENRON, Christiaan
Huizer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rafael Rangel/NA/Enron@Enron, Rob
G Gay/NA/Enron@Enron, Federico Cerisoli/SA/Enron@Enron, Eddy
Daniels/NA/Enron@Enron, Gabriela Aguilar/SA/Enron@Enron, Mariella
Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter E Weidler/NA/Enron@Enron,
Gabriela Aguilar/SA/Enron@Enron
cc: Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B
Sanders@ECT

Subject: Furnas Litigation Arbitration/Strictly Privileged and
Confidential/Attorney Work Product/Attorney Client Communication

This is a very BASIC outline of the litigation/arbitration strategy with no
detail and the budget numbers are ballpark, subject to revision as we
determine which strategy to take.  If anyone needs something more detailed I
am happy to create that.  Keep in mind this is privileged material that
should not be shared outside the control group unless it is outside counsel.
If privileged material gets outside the group, the privilege is waived.  From
now on, please tag all emails, reports, memos, agendas or written
communications of any kind discussing any of the issues regarding the
consent, termination, force majeure, damages or anything relevant to the
issues that may be litigated or arbitrated with the notation
"CONFIDENTIAL/ATTORNEY CLIENT PRIVILEGED COMMUNICATION" and copy John Novak
or me on it so we can attempt to keep it privileged.

Laine, this is especially true with respect to the force majeure
investigation.  All communications/reports of any kind about this
investigation are to be done at the direction of counsel, in anticipation of
litigation to keep them privileged. This prevents us from having to produce
any results of the investigation to Furnas in the event of arbitration unless
we want to.  Therefore, please copy John Novak & me on all communications
regarding the investigation and direct any reports about the investigation to
me with the notation, "Prepared at the direction of counsel in anticipation
of litigation. DO NOT PRODUCE IN DISCOVERY."  If we need to hire any outside
consultants for this, I need to prepare a tasking letter for them so that any
reports or records they produce will be privileged, because it is being done
at the direction of counsel in anticipation of litigation.  If we fail to do
this, anything they say or write is fair game for the other side.  I'll give
you a call about this.

Everyone, think before you write things down and be especially careful with
email.  Remember you may have to produce notes, emails etc at some point.
Please call me if you have any questions or if I can assist any of you.
713-345-6159.
Kindest regards,
Michelle Blaine


Kam,

Many of the SW curves have become obsolete since losing Enron's obscure deals.  Therefore, we would prefer to reduce our curves to the following:

	BASIS				INDEX				GDI-Index			PHYS

	NGI-SoCal			NGI-SOCAL			GDP-CAL BORDER		NGI-SOCAL
	IF-ELPO/SJ			IF-ELPO/SJ			GDP-ELPO/SJ			IF-ELPO/SJ
					IF-ELPO/PERMIAN		GDP-ELPO/PERM		IF-ELPO/PERMIAN

Mike would like to kill Kingsgate in the NW.

Thanks

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Monday, February 04, 2002 3:00 PM
To:	Grigsby, Mike; Allen, Phillip K.; Ermis, Frank; Holst, Keith
Subject:	curve files

We have created six new curve files for UBS.  Could you please look at them and let me know if there is something in your files that you are not responsible for and we will move them.  Also, you can use these files to change or update your links.    O:\_dropbox\West Curves

We will probably be loading these on Wednesday for the first time to do our final testing so let me know if you have any questions or need our help with this.

Can you let me know when you have finished with yours so we can convert them to the new database?

Thanks

Kam

If you have already done this let me know, Phillip is out all week and I don't know where he left off.


June 20, 2000

ALJ Andrea L. Biren
California Public Utilities Commission
505 Van Ness Avenue
San Francisco, CA 92101

     RE: I.99-07-003

Dear Judge Biren:

Set out below are Dynegy!,s  lated filed transcript corrections for the above
captioned matter.

Volume 6

Page 802, line 27   Change !&Dynergy!8 to Dynegy

Page 803, line 7    Change !&Dynergy!8 to Dynegy

Page 803, line 16   Change !&Dynergy!8 to Dynegy

Page 803, line 23   Change !&Dynergy!8 to Dynegy

Page 804, line 19   Change !&Breach!8 to !&Beach!8

Sincerely,

Joseph M. Paul
Attorney for Dynegy, Inc.


Beverly, what do you think?

---------------------- Forwarded by Chris Germany/HOU/ECT on 02/05/2001 10:27
AM ---------------------------

Suzanne Calcagno@ENRON
02/05/2001 09:42 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Transco Meeting 2/8

Hey-

Are you available to go to a meeeting with me at Transco on Thursday at
12:30?  It's a special meeting,separate from the OneLine/637 meetings, that
was set up to discuss the operational control notices, and associated
penalties, they've proposed and issues relating to pooling.  I made the
request to be able to rank w/in a business party from a pool on the disag nom
which they seem to think they'll be able to accomplish.

I'll send out a summary of the Tetco and Transco meetings this afternoon.

Please let me know if you can attend or if you think it'd be better for
Victor (or whoever) to go.

Thanks!
Suzanne


As you know, we are planning a baby shower for Carol St. Clair on Friday,
June 9, 2000.  FYI . . . we are collecting money for a gift certificate/group
gift.  If you would prefer to make a contribution toward the gift
certificate/group gift in lieu of buying an individual gift, please call me
at ext. 3-3439 before Tuesday, June 6.

Thanks,

Carolyn


Dear Investor,

I know "hope springs eternal," but please don't let
it blind you to what's really going on.

Tech stocks have staged a very impressive rally since
October 1st.  So we're out of the woods, right?  We're
on our way to a new bull market, right?  And
everything is well in technology land, right?

WRONG!

And if you make the same mistake I see many investors
making -- and jump back in tech stocks like it's 1999
all over again -- you will likely lose your shirt.

YOU SEE, much of the rise in tech stocks is attributable
to "short covering" -- and it won't continue with the
breadth and power folks are dreaming of.  Why?  Because
the entire tech sector still has an erratic and
unpredictable earnings outlook.

To simplify it even further, earnings for most tech
companies STINK!

Tech companies -- with very few exceptions -- are drowning
in red ink.  And most won't have positive earnings news
for the next 7-to-10 months.  That's why most tech
stocks -- while they've popped off their lows -- offer
much greater risk than potential reward for the foreseeable
future.

IF YOU WANT to stay safe now -- but still earn handsome
profits you can take to the bank -- you must invest in
those companies I call "EARNINGS MONSTERS."

That's the term I use for companies bucking the current
trend...and GROWING their earnings anywhere from
30%-to-50%--while most companies are lucky to earn
anything at all.  These "EARNINGS MONSTERS" are the only
sort of stocks we own at my Blue Chip Growth Advisory.
And they're the only stocks that YOU should even think
of owning now.

I've written to you several times about out "Earnings
Monsters" over the last few months.  And I'm sorry you
haven't yet joined my roster of Blue Chip Growth clients
because you're MISSING OUT:

*Retailer Lowe's is one great example of the stocks we own
at Blue Chip Growth.  No razzle-dazzle.  Just strong
earnings growth.  It's already UP 103% for the year!

*PeopleSoft is one of the few tech stocks I own today.
Why?  Solid 30%+ earnings growth so far in 2001.  In fact,
3rd quarter profits "beat the street" by 25%.  The result?
The stock is UP 97% since October 1st.

*Tenet Healthcare is a great little company to own in times
like these.  It's a top-player in a virtually recession-proof
business.  It's up a nice, stomach-calming 36% YTD.

*What recession?  Chopper king Harley Davidson is hogging
all the profits.  The company announced chart-topping
earnings after-the-bell on October 9th, and its stock is UP
20% since.

*If you like HOME RUNS, our stock in Emulex has SOARED 251%
since the beginning of October.  Why?  Because it's one of
very few tech stocks that's still an EARNINGS MONSTER!

We own all these stocks -- and some twenty more like
them -- at Blue Chip Growth.  And those are the sort of
profits YOU'RE MISSING OUT on by not investing in the EARNINGS
MONSTERS I write about in my advisory.

Since I started my Blue Chip Growth advisory in late 1997,
our portfolio has beaten the S&P better than 2-to-1, thanks
to our commitment to earnings quality.  And the advisory I
started in the mid-1980's, MPT Review, has GAINED 3,850% in
the last 16 years, according to The Hulbert Financial Digest.

HERE'S THE KEY: I'm a very fickle guy.  As long as a company
keeps performing, I love it...things start looking iffy, I
take the profits and run.

We DUMPED EMC last year and pocketed 466% gains.  We SOLD
Lucent after it gained 158%.  We banked 209% gains overall
from Cisco; 189% in Home Depot; 121% in Microsoft; 179% in
Amgen; 113% in Wal-Mart; 320% in Dell Computer; 196% in
Vodafone Airtouch; and 316% in Nokia.  All stocks we SOLD
last year.

We owned them all while they were STILL EARNINGS
MONSTERS -- and sold them before they fell.  That's why I
urge you to invest the way we do at Blue Chip Growth.  It's
simply the SAFEST WAY to HUNT FOR PROFITS -- in any kind of
market.

So which companies qualify as EARNINGS MONSTERS now?

Find out by trying my Blue Chip Growth advisory RISK-FREE.
You'll make money -- or it won't cost you a dime.  I'll give
you six months to try the service risk-free -- set the bar
as high as you want.  Sign up now.  I'll introduce you to
the EARNINGS MONSTERS that are your best bet for 50%
gains -- or more -- over the next 6 months.  Go here now:
http://www.ppi-orders.com/index.htm?promo_code=1AJ193

Sincerely,
Louis Navellier
Blue Chip Growth

P.S. Overall, insider buying is the strongest it has been in
years.  That's great news -- but not for tech stocks.  In
fact, many tech insiders are SELLING to raise money for taxes
they owe on options conversions last year.  That'll just knock
many tech stocks for a loop again.  So stay away!  Buy our
EARNINGS MONSTERS instead.  Click here now:
http://www.ppi-orders.com/index.htm?promo_code=1AJ193

------------------------------------------------------

ACCOUNT MANAGEMENT

We hope this free digest of investing advice is
valuable to you. If you'd like to change your e-mail
address (DON.BAUGHMAN@ENRON.COM), or unsubscribe, please
do so by going to the following address:

http://www.investorplace.com/unsubscribe.php

Your name will be removed from our list within 7-10
working days.

------------------------------------------------------

Tuesday Jan 08, 2002 19:30:04


Please prepare draft ISDA's for Oakleaf Waste Management, L.L.C. and Bison
Building Materials Inc. based on the attached ISDA Swap Agreement Information
Sheets.

The first should go to Glenn Connors and the latter should go to Rob Scheuer.

Please call if you have any questions.  Thanks.


fyi we have 2 weeks to check this out without cost.  maybe we can get
additional ideas about how we incorporate capacity trading into EOL.
---------------------- Forwarded by Scott Neal/HOU/ECT on 10/24/2000 11:41 AM
---------------------------

Sean Boyle@ENRON
10/23/2000 03:23 PM
To: Dick Jenkins/HOU/ECT@ECT, Scott Goodell/Corp/Enron@ENRON, Steve
Gillespie/Corp/Enron@ENRON, Victoria Versen/HOU/ECT@ECT
cc: Scott Neal/HOU/ECT@ECT
Subject: Pipeline Capacity Service

Guys,
A friend recommended Capacity Center, a service that e-mails information on
capacity release, daily activity reports and system notices from pipelines on
a daily basis.  There is a filtering mechanism for each service by pipeline,
time frame and the critical nature of  the notices.  The cost is based on the
number of users and reports, for example if we signed up 3 users for 6 months
the cost would be approximately $3,000.  If you would like to check it out  I
have negotiated a free trial for 2 weeks (until 11/5/00).  Click here
http://www.capacitycenter.com/  the login name is sboyle@enron.com and
password is jackd.  Let me know if you would like an overview or see any
reports I can forward them to you via my e-mail.  Or you can call
Carol Christopher
CapacityCenter.Com
Business Solutions Manager
978-535-5868

Thanks,
Sean


--------- Inline attachment follows ---------

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DGIRON>
To: 'SSCHROED@us.ca-indosuez.com@ENRON', dgiron@enron.com, randy.g.kruger.jr@arthuranderson.com, mikeshaw@andrews-kurth.com, todd.w.taylor@bakernet.com
Date: Thursday, January 24, 2002 3:05:46 GMT
Subject:

Sorry.  I've got a UBS meeting all day.  Catch you later.  I was looking forward to the conversation.

DG

 -----Original Message-----
From: 	SSCHROED@us.ca-indosuez.com@ENRON
Sent:	Thursday, January 24, 2002 8:52 AM
To:	dgiron@enron.com; randy.g.kruger.jr@arthuranderson.com; mikeshaw@andrews-kurth.com; todd.w.taylor@bakernet.com
Subject:	Lunch

It seems everyone agreed to Ninfa's.  Let's meet at 11:45; let me know if a
different time is better.  Ninfa's is located in the tunnel under the JP
Morgan Chase Tower at 600 Travis.  See you there.

Schroeder


Was that you walking in this morn when I was?  How's everything?


After 26 years I thought I had a piece of the cheese!


ok


I know this is the same as before, but are interested after this week's
action?

Ricky and Warrick for Carter and Smith?


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/13/2000
05:01 PM ---------------------------

Francis Montalbano <F.Montalbano@msdw.com> on 03/13/2000 04:47:12 PM
Please respond to F.Montalbano@msdw.com
To: sshackl@enron.com
cc: Kathleen E Mooney <Kathleen.E.Mooney@msdw.com>
Subject: Morgan Stanley Documents

Hello Sara,

Please sign & complete the listed Morgan Stanley Documents. Also
please provide any necessary underlining documents.

Thanks,
Francis Montalbano
Prime Brokerage Compliance
Tele: 212-762-5019

 - Enron2.doc
 - W-9 Form.pdf
 - Proxy Disclosure Agr.doc
 - Authorization to Transfer Funds.DOC


That's ok - he always has done

 -----Original Message-----
From: 	Jafry, Rahil
Sent:	Thursday, October 25, 2001 10:48 AM
To:	Kitchen, Louise
Subject:	Today's meeting

Went VERY well.  Lots of positive vibes afterwards and goodwill towards both of you.  People most appreciated executives admitting to the fact that things were wrong and they were frustrated too, but everyone needs to get over it.  Big change from past history of blaming everyone but ourselves and just glossing over the real problems and making them sound better....

- R
Side note:  JL uses the word "I" a bit too much.


Due to the President's Day Holiday on next Monday, February 18, Steve will hold his staff meeting on Tuesday, February 19, same time, same location.

As a courtesy to all attendees, Steve is asking, once again, that all participants arrive by 2:30 pm allowing for a prompt start time and for discussions to flow in an effective manner.    Your contributions to the discussions are crucial and deserve to be heard by all concerned.  Achieving this objective is why we ask your cooperation.

Because our attendee list has grown significantly in the past few months, arrangements have been made with facilities to have a standing order of chairs available for your convenience.

Please call if you have any concerns or questions.

adr

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax


John,

Many thanks for agreeing to speak at our YPO session on April 24, 2001, in
Houston.  The meeting will be held at Enron Broadband Services, network
equipment staging building, which is close to downtown.  We anticipate
attendance of about 100 people.

Breakfast will begin at 7:30 a.m., and the program will run from 8:15 a.m. to
10:15 a.m.  The subject is "New Trends in Technology and Venture Capital."
You will be on a panel discussion with two other venture capitalists.  I
expect the tone will be highly informal, but I will schedule a conference
call (probably in early March) to provide more details and specific topics of
interest.

Again, John, thank you.  I look forward to seeing you in April.

Jeff


The report named: East P/L Totals <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=1&report_name=East+P/L+Totals&category_cd=1&category_name=EAST&toc_hide=1&sTV1=1&TV1Exp=Y&current_efct_date=10/09/2001>, published as of 10/09/2001 is now available for viewing on the website.


liz:
are the diamonds still available for tonight's game?


Steve January would be the point person from our group if we decided to
proceed.

Jeff--Were are we on this issue??

Thanks. Julia

	From:  Rich Jolly                           11/29/2000 06:59 AM

To: Julia White/ET&S/Enron@ENRON
cc: Jeffery Fawcett/ET&S/Enron@ENRON, Randy Rice/OTS/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Mary Kay Miller/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON

Subject: Re: Citizens request for proposal

I agree this should be the way to handle this. Just in case we want to do it
I'll get with Tiny and the Team and put some operation dollars together.
Julie if you want us to work with someone from your group let me know.
Thanks
Rich

Julia White
11/28/2000 07:58 AM
To: Jeffery Fawcett/ET&S/Enron@ENRON
cc: Randy Rice/OTS/Enron@ENRON, Rich Jolly/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Mary Kay Miller/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON

Subject: Re: Citizens request for proposal

Why would this be any different from TW operatiing the Blanco line for NW? We
would need to put together a joint budget between Operations and Market
Services exactly as we do for NW?

Julia

Jeffery Fawcett
11/27/2000 04:00 PM
To: Randy Rice/OTS/Enron@ENRON, Rich Jolly/ET&S/Enron@ENRON
cc: Susan Scott/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Mary Kay Miller/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON

Subject: Citizens request for proposal

Citizens Utilities is in the process of selling off all of its
non-telecommunications businesses throughout North America.  One of their
principal assets, Louisiana Gas Service (LGS) is one of those companies
recently sold by Citizens.  LGS provided gas control and operations services
to other non-LGS companies, including the Citizens Utilities LDC assets in
Arizona.  With the consummation of the sale of LGS, Citizens has told me
confidentially that they have no reasonable way of operating the
interconnect, metering and 1.5 mile lateral pipeline facilities that
interconnects TW and EPNG to the recently constructed Griffith Energy Power
Plant.   Therefore, Citizens is looking to possibly have a 3rd party provide
contract operations services under an operating agreement.  TW has been asked
in writing by Citizens to consider making a proposal to operate these
facilities.

Does TW have an interest in providing contract operations services for
Citizens?  In a related legal/regulatory question, does TW have the authority
to conduct contract services on behalf of others, or would we have to perform
these services as a separate legal entity?  If we do, does this present an
affiliate problem for us if we "share" operating employees?  If these
threshold questions can be accommodated, and TW is not only able to provide
contract operations services for Citizens, but has a commercial desire to do
so, what would we charge Citizens for this service?  Although it would appear
at first blush to be a relatively simple matter to operate these facilities,
remember that Citizens will be receiving gas (potentially) from both TW and
EPNG simultaneously, presenting not only a challenge to balance pressure
between the pipes, but to account for and reconcile deliveries and receipts
from both pipes as well as the plant site.

Although I'm the principal commercial representative for Citizens as regards
transportation matters, I'm certainly willing to step out of the middle of
this negotiation if Operations desires to handle it themselves.  I will be
happy to provide you a copy of the brief 1/2 page letter Citizens sent to me
on the 17th soliciting TW's interest.   Given the relatively short lead time
until LGS operations is sold, Citizens has requested expedited
consideration.  Please let me know how you want to proceed.  Call if you have
any questions.


can you please fax thing we were faxing yesterday to jeremy.  i'm much obliged.

-----Original Message-----
From: Blachman, Jeremy
Sent: Tuesday, December 11, 2001 9:35 PM
To: Dasovich, Jeff
Subject: Re: SUMMARY OF PUC INVESTIGATION INTO ENRON

Please fax to me at 7136468008
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


OK Cousins (and family):
 Here is the address for the newest most exciting site on the Internet
(Well, we hope it will become exciting)  It all depends on You All.  I've
registered the domain name "Thats-nice.com"  I tried to get "Thatsnice.com"
but it was already taken.  It leads to a non-public page so be careful when
typing the URL (Universal Resource Locater). Type it as
http://www.thats-nice.com and you should get there OK.  Ronnie had trouble
getting it right through her aol browser.  It finally worked by launching
Explorer and entering the URL there.  How's that for a novice (only had
computer three days)?
 It's now up to all of you to send me information and pictures to put on the
page.  We need to keep it a "World Class" psite, so I reserve the right to
discard objectionable material.  Objectional may be defined as anti-white,
anti-black, anti-asian, anti-male, anti-female, anti-pro-life,
anti-pro-choice, anti-gay, anti semitic, anti-yankee, anti-rebel,
anti-blonde, anti-brunette, anti-redhead, anti-democrat, anti republican..
or obscene materials. (well maybe not anti-republican).  You get the idea.
 Lets just not put anything on here that may be offensive to others in the
group.
 I just checked to seewhat happens when mail is sent to anyone
@thats-nice.com.  The result.. it gets returned to sender.  I'm going to get
that fixed so it will ultimately get to me at abarnett@mapus.com.  For now,
please send any e-mail to me at abarnett@mapus.com.  I'll try to get the
stuff up on the site within a few days.

 Please add to the mailing list:
Alan & Nancy Barnett  acsurfr@aol.com and kiteaze@aol.com
Lara Barnett lbarnett@cyberenet.net

Hope this finds you all in good health.

Arnold


INSIDE TRACK: Saving up for a rainy day: WEATHER RISK MANAGEMENT: This week's
storms have prompted businesses to face up to the need to hedge against
changes in the climate, says Toby Shelley:
Financial Times, Nov 2, 2000

		Arena foes, supporters battle it out
		HOUSTON CHRONICLE, 11/02/00

		Azurx Shareholder sues over deal's price
		Houston Chronicle, 11/02/00

		'Big-picture' strategy gives C.I. Global edge Growth-oriented, diversified
fund delivers on all fronts
		The Globe and Mail, 11/02/2000

		Calif Generators See FERC Ruling As Step, Not Solution
Dow Jones News Service, 11/01/00

		IN THE MONEY: Enron Looks To Un-Dip Its Toe From Water
Dow Jones News Service, 11/01/00

		USA: Transwestern N.M. gas line cut 25 pct on train derail.
Reuters English News Service, 11/01/00

		US Natural Gas Cash Prices End Up On Arbitrage Spreads
Dow Jones Energy Service, 11/01/00

		INSIDE TRACK: Saving up for a rainy day: WEATHER RISK MANAGEMENT: This week's
storms have prompted businesses to face up to the need to hedge against
changes in the climate, says Toby Shelley:
Financial Times, Nov 2, 2000, 763 words

		As emergency services brace themselves for more gales after the worst storms
since the hurricane of 1987, businesses and the public are beginning to
realise what climate change means: not just flood damage but also disruption
of infrastructure and transport.
		The Association of British Insurers says the bill for Sunday's storm will
amount to hundreds of millions of pounds. This comes on top of last month's
flood damage in Kent of Pounds 40m-Pounds 80m. Bad weather cost insurers
Pounds 861m in 1999.
		While the costs of flooding are fairly easy to quantify, the financial burden
in terms of business forgone is less obvious. Swimsuit and umbrella
manufacturers face an obvious weather risk (although a company making both
would be nicely hedged), but so do 70 per cent of all companies, according to
industry experts.
		As awareness of such risks increases among shareholders, chief executives are
less able to use the climate as an excuse for lower profits. As a result, a
growing number of companies are developing weather risk management using some
of the many instruments now available (see below).
		Europe is catching up with the US in developing mechanisms and tools to help
companies manage such risk. The London International Financial Futures
Exchange aims to launch weather futures contracts early in 2001; Societe
Generale is developing weather hedge funds; Enron, the US energy and trading
group, is launching another 17 sites in Europe around which to trade weather
risk; and Weather Risk Marketing is putting together an insurance programme
in the London market, aimed at FTSE 200 companies, with capacity of Pounds
100m per customer.
		The global market in weather risk derivatives is valued at Dollars
3bn-Dollars 8bn (Pounds 2bn-Pounds 5.5bn) and is mainly in the US.
		Gas and electricity market deregulation provided the impetus for UK energy
companies to enter the weather derivates market. Centrica, the UK-based
energy supplier, is particularly enthusiastic. Given a "normal" winter in
1999, Centrica's profits would have been Pounds 24m higher.
		Thor Lien, Enron's senior weather derivatives trader in Europe, values the US
market at about Dollars 3bn and believes growth next year in Europe could
double that. But there are a number of imbalances in the current market and
brakes to further development.
		The very enthusiasm of the energy sector means demand for derivative hedges
against warm winters far outweighs demand for hedges against cold winters.
		Nick Ward, weather risk broker at Spectron Futures, says higher winter demand
can leave the current derivatives market with characteristics of an insurance
market where risks have to be absorbed.
		Lack of liquidity in the market is limiting business, according to some,
although Mr Ward says the derivative market can look at Pounds 50m risks. An
active hedger agrees: "The derivatives and reinsurance markets are certainly
developing, with some larger transactions, which may be in the tens of
millions, being explored. Most deals, however, remain relatively small in
comparison with the overall level of risk that could be transferred in these
markets."
		SocGen is the only bank to have committed itself thus far to the weather risk
market and is developing a Dollars 145m hedge fund activity in Europe and
Asia. Diego Wauters, global head of insurance derivatives, says his team
often closes two or three deals a week worldwide. It has done about 60 deals
globally over the last 12 months, 70 per cent of them weather risks.
		Data pose a problem for some companies. Rob Preston, a director at Speedwell
Weather Derivatives, says the cost of access to UK weather data from the
government-owned Meteorological Office may be restricting the take-up of
weather risk management by smaller companies. For data from a local weather
site, the Met charges Pounds 1,500 for temperature and the same again for
rainfall.
		Another significant brake on market development is lack of awareness. Even
where treasurers are persuaded of the value of hedging weather risks, selling
the idea to the board can be difficult.
		Peter Blogg at Liffe does not expect a flood of interest when futures
contracts begin trading. Rather, the plan is to establish them as benchmarks.
At a conceptual level, protecting profits from the weather is accepted by
many chief executives but few are putting weather risk management into
practice.
		David Gamble, executive director of Airmic, the UK risk managers'
association, says there is a growing interest in the area, although few
non-energy companies have taken an interest so far. Retailers such as
Sainsbury and Tesco have no involvement, nor does Railtrack, the notoriously
weather-prone rail operator. Cargill, the global trading house, is active in
the US but maintains only a watching brief in Europe.
		The future structure of the emerging market remains unclear. Mr Preston
foresees a two-tier basis: a primary market in tailored deals accepted by
insurance and capital market companies; and a secondary market in wholesale
traded risks appealing to insurers and energy companies.
		For Enron, Mr Lien sees a rapidly growing wholesale market in Europe with the
extremes covered by insurers who will, increasingly, be able to hedge their
exposure on the derivative market. He says that big exposures require
syndicated insurance at present but in six months' time the derivatives
market will have more liquidity.
		Copyright , The Financial Times Limited

Nov. 2, 2000, 9:23PM
HOUSTON CHRONICLE
Arena foes, supporters battle it out
By JANETTE RODRIGUES
Copyright 2000 Houston Chronicle
With less than a week to go before the arena referendum is put to a vote,
supporters and foes put aside any niceties in favor of bare-knuckle brawling
during a debate Wednesday.
Both sides spent a lot of time pitching, spinning and trying to persuade
members of The Greater Heights Area Chamber of Commerce, which sponsored the
event.
The debate started out in classic point-counterpoint style, with a panel of
Houston television news anchors asking the questions. But both sides quickly
went into attack mode.
In the pro-arena corner were Harris County-Houston Sports Authority Chairman
Billy Burge and Don Jordan, the co-chairman of Let's Build It Together, the
pro-arena campaign group. Opposing them were Metropolitan Coalition President
DeWayne Lark and conservative activist Bruce Hotze.
"Les Alexander gets all the benefits," Hotze said. "If this was a marriage it
wouldn't last a week. It is not a good deal."
Burge retorted: "Mr. Hotze, you sound like Bill Clinton -- a half-truth is
the blackest lie of all."
After a few of Hotze's anti-arena comments received applause from the
audience, Jordan chided some of those gathered.
"You can be very confused and ... clap about the statements that are being
made to you that aren't exactly accurate," he said. "That is one of the
benefits of being here today. You can look beyond some of the advertising
that has gone up, 90 percent of which is incorrect."
Later, the event got even more colorful after KTRK-Channel 13 anchor Bob
Boudreaux asked anti-arena activists what they knew about the deal that
fiscally conservative U.S. Rep. Bill Archer, R-Houston, didn't know. Archer
is appearing in the pro-arena campaigns' most recent television commercials.
"I think the pro-arena campaign has been a Clinton-esque campaign of
misstatements and misleading, and I think they have told people that the
Rockets are going to pay their fair share," Hotze said. "They pay nothing up
front. I think if Bill Archer knew all the facts, Bill Archer would not come
out and endorse this."
Jordan responded: "That's an incredible statement. The only thing I know
about that might be more incredible than what you just heard is if anybody
out there believed it. Bill Archer knows what's going on about this arena
down here."
Opponents accused pro-arena forces of doling out corporate welfare at
taxpayers' expense, while proponents repeatedly criticized arena opponents'
statements as misleading and inaccurate.
Backers of the arena say it would spur downtown development, strengthen the
economy, boost good feelings about the city and cement Houston's position as
a world-class city.
Lark said that he supports a new arena, but that taxpayers shouldn't have to
foot the bill -- especially when a billionaire sports team owner stands to
benefit the most from the deal.

Nov. 2, 2000, 12:12AM
HOUSTON CHRONICLE
Briefs: City and state
Azurix shareholder sues over deal's price
A shareholder has sued Azurix Corp. and its parent Enron Corp. on grounds
that a $275 million plan to take Azurix private undervalues the water
company's shares.
Azurix spokeswoman Diane Bazelides said the company has not been served with
the papers and therefore is unable to comment on the lawsuit.
Houston-based Enron last week offered to provide financing to let Azurix
purchase its shares at $7 apiece. Enron owns a little more than a third of
the water company it created two years ago and controls another third through
an investor group called Atlantic Water Trust.
In one of six lawsuits filed in Delaware Chancery Court, Azurix shareholder
Thomas Turberg says Enron and Azurix's directors have violated their duties
to shareholders by agreeing to purchase the shares at a price that is less
than the water company is worth.
The defendants are trying to use their control of Azurix to force
shareholders "to sell their equity interest in Azurix at an unfair price, and
deprive Azurix's public shareholders of maximum value to which they are
entitled," the suit says.
Turberg asks the judge to grant class-action status to his case, stop the
transaction and award damages and legal fees.
Enron shares rose $1.19 to $83.25, while Azurix shares fell 19 cents to
$6.06. Azurix's shares have fallen more than 80 percent since Enron took the
company public last year.

Report on Mutual Funds Special Report
15-Year Review of Mutual Funds FUNDSCOPE
'Big-picture' strategy gives C.I. Global edge Growth-oriented, diversified
fund delivers on all fronts, Gordon Powers says
Gordon Powers
SPECIAL TO THE GLOBE AND MAIL

11/02/2000
The Globe and Mail
Metro
M3
All material copyright Thomson Canada Limited or its licensors. All rights
reserved.

Lured by historically stronger returns and a recent increase in RRSP
foreign-content limits, Canadian investors have poured a record $39-billion
into foreign securities so far this year.
And thanks to some excellent performance and strong brand loyalty among
financial advisers, a fair chunk of this exodus has been heading into several
funds sponsored by C.I. Mutual Funds Inc.
Consider the $3.2-billion C.I. Global Fund. Under the tutelage of long-time
manager William Sterling, the 14-year-old fund returned 21.1 per cent in
1997, 26.2 per cent in 1998 and 37.1 per cent last year.
Over the 10 years ended Sept. 30, these strong numbers propelled it to a
stellar compound average annual rate of return of 17.7 per cent, well above
the 13.7-per-cent average of its global equity-fund peers.
Against a backdrop of rising inflation, technology jitters and potential
interest-rate hikes, however, the fund has been struggling more recently.
Year to date, it has delivered barely a break-even return.
Despite this recent blip, though, fund analyst Stephen Kangas, managing
editor of Toronto-based Fundlibrary.com, calls mammoth C.I. Global a
"must-have" fund.
"Bill Sterling's big-picture strategy and [co-manager] Stephen Waite's
stock-picking have worked to put this fund not only in the first quartile but
right up there as a core offering within the global category," Mr. Kangas
says.
Mr. Sterling and his team, most recently working for C.I. through independent
Credit Suisse Asset Management LLC, now have a major stake in a new
portfolio-management partnership, New York-based C.I. Global Advisors LLP,
that manages several funds in the Toronto-based C.I. family.
This new partnership "means the management group is in place for the long
haul," says Mr. Kangas, who favours arrangements where managers have equity
stakes.
Driven by the big-picture themes outlined in his appealing book,
Boomernomics, and using discounted cash flow as his primary yardstick, Mr.
Sterling has created a growth-oriented, broadly diversified fund that seldom
has much in common with its benchmark, the Morgan Stanley World index.
It generally contains about 140 stocks, with the largest holding limited to
roughly 3 per cent of the portfolio and the top 10 stocks representing no
more than 20 per cent of the pie. "You really can't do it any other way," Mr.
Sterling says. "When it comes right down to it, nobody really knows who's
going to win all the battles. With technology in particular, you have to take
a much broader view."
Similarly, although currency movements are always a factor in any global
fund, Mr. Sterling makes little attempt to hedge his dollar exposure,
preferring to use it as another key criterion in determining his country
choices. "We're much more likely to back an exporter who's going to benefit
from a sliding currency than to try and play the currency itself. That's
really where you're going to benefit."
Although still sporting a positive outlook for the long term, Mr. Sterling
has been trying to reduce the risk in the portfolio in recent months. Despite
the increased promise of an economic soft landing in North America, he still
worries that U.S. corporate profits may fail to meet expectations.
"We've been feeling a bit defensive for a while now. As long as central banks
are raising rates -- and we think one or two quarter-point hikes in the U.S.
are still likely -- you're going to see continued volatility and uncertainty,
particularly in U.S. technology stocks."
Consequently, he's reduced the fund's holdings in the United States and, to a
lesser extent, in Europe. Right now, the fund has 52 per cent of its stocks
in the United States, 21 per cent in Europe and 7 per cent in Japan, with
roughly 13 per cent in cash. That's a far cry from the beginning of the year,
when the fund had roughly two-thirds of its money south of the border and
very little cash on hand.
Over the past 18 months, U.S. tech stocks have swung dramatically, almost
twice as much as the rest of the market. As a result, the securities of many
technology companies are priced more like options than stocks, Mr. Sterling
says. "And that means likely more volatility, rather than less. Prudent asset
allocation suggests that you diversify away from an asset class as its
volatility increases. Despite the very real merits of the sector, investors
shouldn't have all their eggs in some high-tech basket."
Although technology still plays a significant role in the fund -- big
holdings include PMC Sierra Inc., Broadcom Inc., Vodafone Airtouch PLC and
Cisco Systems Inc. -- Mr. Sterling quickly points to what he calls "the
leopards" within the fund's largest holdings.
Companies such as Corning Inc. are an increasing force in fibre optics, and
ones such as utility giant Enron Corp. are "changing their spots and looking
for new ways to succeed. But, unlike many younger tech companies, they still
make money in the process," he says.
For conservative investors looking to diversify their holdings, the fund is
"definitely a core fund for most portfolios," Mr. Kangas says.
"Put this C.I. fund together with, say, a strong offering like AGF
International Value, and you've got an excellent foundation to build upon.
Lower risk, strong returns, broad diversification -- I think this fund has
really delivered on all these fronts. Highly recommended."
C.I. Global
Category: Global equity Manager: William Sterling Load status: Optional Total
assets: $3.2-billion Management expense ratio: 2.4%
Globe 5-star rating: ***** Returns to Sept. 30, 2000 1-month simple rate of
return: 0.5% 3-month simple rate of return: 1.1% 6-month simple rate of
return: 0.0% 1-year compound annual rate: 39.0% 2-year compound annual rate:
29.1% 3-year compound annual rate: 20.5% 5-year compound annual rate: 20.2%
10-year compound annual rate: 17.7% Top 10 holdings To Sept. 30, 2000
1. Corning Inc 3.4%

2. Network Appliance Inc 2.0

3. General Electric Co 1.9

4. Microsoft Corp 1.8

5. PMC-Sierra Inc 1.7

6. Vodafone Airtouch Plc 1.7

7. Cisco Systems Inc 1.6

8. Enron Corp 1.6

9. Citigroup Inc 1.5

10. Skandia Foersaedrings AB 1.5
Telephone: 1-800-563-5181 Breakdown by country
USA 52.1%

Israel 0.1%

South Africa 0.5%

Canada 2%

Japan 6.8%

Cash 12.9%

Other 25.6%

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

Calif Generators See FERC Ruling As Step, Not Solution
By Christina Cheddar

11/01/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- California's power generators think federal regulators
took a big step toward improving what they see as a flawed market for
wholesale electricity, but may have stopped short of total solution.
Earlier Wednesday, a committee formed by the U.S. Federal Energy Regulatory
Commission released recommendations to revamp the Golden State's power
market.
The recommendations sprung from a probe conducted by the committee that
sought to explain why California power prices tripled this past summer.
Overall, companies supplying power to the state applauded the committee's
finding that market manipulation by power generators in the state wasn't to
blame, as some consumer groups had charged.
FERC is the third agency to agree that there was no price collusion in the
market this summer, said Duke Energy Corp. (DUK) spokesman Tom Williams.
Company officials also said they were pleased by the agency's recommendation
that California should allow its three utilities to buy power from a variety
of suppliers and buy power in the forward markets.
Previously, the utilities were required to buy and sell all power through the
state's Power Exchange at market prices.
The previous requirement, which bound the utilities to one supplier,
effectively created another monopoly, said Enron Corp. (ENE) spokesman Mark
Palmer.
"Utilities should be able to manage their own price risk," Palmer said.
Williams Cos. (WMB) spokesman Tim Thuston agreed. He said his company had
been advocating this change, and was pleased to see it included in the
agency's recommendations.
However, generators did raise concerns over a so-called soft cap. Under the
provision, a supplier who sells power above $150 a megawatt would be entitled
to receive the bidding price, however, the supplier would have to file
several reports to the FERC.
Previously, all bidders in a single-price auction had to pay the highest bid
paid, which was otherwise known as the market clearing price. Under the
committee's recommendation, the market clearing price will never exceed the
$150/MW cap.
The companies also were concerned about a provision that could lead to
refunds after October 1.
Reliant Energy Inc. (REI) spokesman John Stout a two-year refund window is "a
cloud hanging over the market."
During Stout's initial review of the voluminous FERC report, he said he
wasn't able to determine exactly how the FERC would establish what is the
right price for power.
He said Reliant would be paying attention to this provision, which he said
could have broad implications for the companies who operate in the state.
Other officials also noted that sometimes power is traded several times
before it reaches its end-users. In those cases, how would refunds be
determined, officials asked.
In sharing their initial reactions to the 100-page report, company officials
agreed there is still much work to be done. Officials said they plan to make
additional recommendations to the state's agencies in the days ahead.
The changes in the California power market are sure to affect the strategies
of the state's power generators.
Enron has already decided to back off plans to install 300 megawatts of new
generation in the state next spring, said Enron's Palmer. The generation was
part of a project proposed by the California Independent System Operator.
Enron and 13 other companies are in negotiations to build the capacity, which
would have operated during periods of peak demand, when prices are the
highest.
Palmer said the lingering uncertainty in the state's power market makes the
project less financially attractive.
Still, other financial opportunities could be created by the proposed
regulations. Palmer said Enron's price-risk management operations could get a
boost because the state's utilities will now be free to purchase power in the
forward markets.
Other trading companies also see an opportunity there, but none would
estimate its potential value.
Duke Energy spokesman Tom Williams emphasized the Charlotte, N.C., company's
commitment to California. Duke, which supplies 4% of California's power, has
already made a significant investment in the state, he said.
Duke expects to continue to spend money in the state. For example, Duke will
proceed with its plans to build its Moss Landing power plant in Monterey
County.
As for other power projects, Williams wouldn't provide specific details.
Still, many believe additional capacity is needed to meet the state's growing
power needs and lower prices.
According to Williams, the FERC recommendations don't do enough to encourage
new generation to be built in the state.
"I think the next two months are full of uncertainty," Williams said. He
added, as long as uncertainty persists in the market, companies won't want to
make the investment.
This point was echoed by other company officials.
As the companies continue to review the order and make recommendations, it is
likely officials will focus future debate on the soft cap and refund
provisions of Wednesday's proposals.
Still, the companies appeared encouraged that progress has been made toward
correcting the state's markets.
And a lot is at stake, according to Reliant's Stout. Not only is the
company's future strategy in California riding on these decisions, but states
like Nevada have slowed deregulation efforts in order to watch the events
unfolding in California, Stout said.
Stout said now is the time for consumer groups, power suppliers, utilities
and the state agencies to come together "to get this power market fixed."
-Christina Cheddar, Dow Jones Newswires, 201-938-5166
christina.cheddar@dowjones.com

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

IN THE MONEY: Enron Looks To Un-Dip Its Toe From Water
By Carol S. Remond

11/01/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

A Dow Jones Newswires Column

NEW YORK -(Dow Jones)- Sometimes it's easier to peddle a hard-sell when you
don't have everyone looking over your shoulder.
That's what appears to be the case with Enron Corp. (ENE) and what it's doing
with its majority stake in Azurix Corp. (AZX), the water company Enron
partially spun-off to the public two years ago.
In an unusual transaction, Enron has offered to loan Azurix $275 million so
that it can buy back its stock from the public for $7 a share - that is, any
and all shares owned by everyone except for those controlled by Enron.
Following some fancy financial footwork involving trusts that own some of the
Azurix stock on its behalf, the Houston, Texas energy and commodity trading
company appears to be priming Azurix for a sale after failing to clinch a
deal the more traditional way.
(In a letter to Azurix, Enron indicated that so far, four potential buyers
have presented themselves. But the top suitor, who offered $7 a share, seems
to have had a change of heart after taking an in-depth look at the company).
Details of the latest scheme are scant. All that is clear so far is that
Enron has hired Lehman Brothers as an adviser regarding its plans for Azurix.
Although Enron declined to comment on its plans, people familiar with the
matter suggested that a complex transaction is now in the offing.
One option Enron had was to do this in the more traditional manner: Buy back
Azurix shares itself. But that posed a problem. In doing so, Enron would have
owned more than 50% of the water company, forcing it to consolidate all of
Azurix' financials on its balance sheet - including a healthy $1.3 billion in
debt.
Instead, with a little wave of a financial wand, it appears Enron has found a
creative way around that problem.
Here's how it works: Enron loans $275 million to the management of Azurix so
it can repurchase the non-Enron related shares from the marketplace. That
leaves an entity called the Atlantic Water Trust continuing to hold 67% of
Azurix' shares. Atlantic Water is half-owned by Enron and another trust
called Marlin Trust Co. Enron has voting rights on Marlin's shares.
A person familiar with the situation suggested that the transaction, which
has yet to be made public, would include some form of sweetner to entice
management to back an Enron-arranged sale of Azurix to a third party.
"Instead of being a growth-oriented play on deregulation and privatization in
the water utility industry, Azurix will become a sort of quasi utility
company," said Anatol Feygin, J.P. Morgan's Enron analyst. "Once that is
done, Enron will be able to cut overhead and development activity and look
for a buyer."
An Azurix spokeswoman said Enron's offer is under consideration. She declined
to comment on Enron's assertion that the water company had retained two
advisers earlier this year to evaluate its strategic alternatives.
What's clear so far is that if Enron succeeds in taking Azurix private,
streamlining the decision making process by excluding private shareholders
and the need to report to the Securities and Exchange Commission, it won't be
able to sell the water business in parts and would likely look for a buyer
for the whole lot.
That's because the equity of Azurix's crown jewel, U.K.'s Wessex Water Ltd.
is used to back a GBP400 million credit facility.
"They can't sell Wessex first because to do so they would have to take that
facility out," said John Kennedy, a utility analyst at Standard & Poor's.
Azurix acquired Wessex in October 1998 for $2.4 billion. People familiar with
the matter suggested that Enron is now in the process of re-evaluating
Wessex, as well as smaller assets in Latin America. Analysts said that Wessex
may now bring in about $1.8 billion. (Taking out long-term debt that comes to
about $4.25 a share).
So why is Enron so eager to get out of the water business?
Trouble has been brewing for a while. In September, following months of
Azurix falling short of analysts' earnings, its high-profile chief financial
officer, Rebecca Mark, simultaneously resigned from her position and stepped
down from Enron's board.
The fact is that Azurix has fallen short of Enron's expectations. The
energy-trading giant appears to have misjudged the speed of privatization in
the water and waste-water industry. And now with projects behind, revenues
have been slow, some $1.3 billion in long-term debt has accumulated and Enron
appears to have given up on its plans.
At the end, Enron's seconds may soon fuel ongoing utility consolidation in
Europe. As least four large European water companies are believed to be
potential buyers: France's Vivendi's Generale des Eaux and Suez-Lyonnaise des
Eaux and Germany's E.On and RWE.
The price of Azurix shares slumped as low as $3.37 earlier this month, far
below its spring 1999 initial public offering price of $19. Azurix' stock was
recently trading at about $6.125. - Carol S. Remond; Dow Jones Newswires;
201-938-2074
-carol.remond@dowjones.com

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

USA: Transwestern N.M. gas line cut 25 pct on train derail.

11/01/2000
Reuters English News Service
(C) Reuters Limited 2000.

SAN FRANCISCO, Nov 1 (Reuters) - Gas flows through a Transwestern (TW)
natural gas pipeline in New Mexico have been cut by about 250 million cubic
feet, or 25 percent, while the line is checked for damage after derailed
train cars fell near the line, a Transwestern spokesman said Wednesday.
The freight train derailment occurred late Sunday but the company was not
informed the train cars had fallen near the gas line until Monday, when gas
flows were reduced, he said.
The TW pipeline, in northwestern New Mexico, feeds California gas markets and
normally operates at around one billion cubic feet a day.
The spokesman for Transwestern Pipeline Co., a subsidiary of Houston-based
Enron Corp. , was unable to say when the line would be back at normal
capacity.
No one was believed to have been hurt in the accident, he added.

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

US Natural Gas Cash Prices End Up On Arbitrage Spreads

11/01/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- U.S. natural gas physical prices mostly rose Wednesday
with the New York Mercantile Exchange futures board, but still held a 15- to
16-cent differential to the Nymex, one of the largest seen this year, traders
said.
The cost of carrying gas to storage blew out the differential, a Houston
trader said, as some pipelines refused to allow more gas into storage at this
late date. "Storage (and arbitrage) wasn't an option," a trader said.
That stagnated some non-incremental buying dead in its tracks, he said. He
expects the 15- to 16-cent differential to continue on Thursday.
Also, in the West, gas was looking for a home after some transportation had
to be redirected because of a force majeure on Enron's Transwestern East of
Thoreau line.
A train derailment in New Mexico had damaged the line, cutting back and
shifting gas deliveries from the East to the West, traders said.
The Nymex December futures gas contract settled Wednesday at $4.686 per
million British thermal units, up 19.6 cents as traders brushed aside an
apparently bearish American Gas Association storage report and bought gas in
preparation for possible wintry forecasts.
Although predictions were for a build in the 60-65 billion cubic feet range,
the AGA said 70 Bcf was added to storage last week, still within some
expectations and considered slightly bearish. The anticipated total fill of
about 2.7 trillion cubic feet has been a factor in driving prices down these
last few weeks, marketers said.
Swing physical gas for November at the benchmark Henry Hub in south Louisiana
rose 4 cents-8 cents to a $4.32-$4.48/MMBtu range. November index at the
Henry Hub is $4.50/MmBtu.
Transcontinental Gas Pipe Line at Station 65 deals rose 2 cents on the bid,
but fell 4 cents on the offer to a $4.35-$4.44 range. Index is seen at $4.51.
At Katy in East Texas, buyers paid $4.25-$4.39, up 1 cent on the bid, down 3
cents on the offer from the Transwestern outage. Index is seen at $4.43.
At the Waha hub, prices closed at $4.17-$4.27, down 5 cents-10 cents, also as
a result of the Transwestern outage. November index for the first of the
month is at $4.50, flat to the Henry Hub.
Prices in the West and California and New York moved above $5.00, traders
said. The California Border index is put at $5.19; PG&E Citygate at $5.33;
Transcontinental New York Zone 6 line at $5.10 and Texas Eastern's M3 line at
$4.96, traders said.
-By John Edmiston, Dow Jones Newswires,713-547-9209;
john.edmiston@dowjones.com

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


Start Date: 2/6/02; HourAhead hour: 13;  HourAhead schedule download failed. Manual intervention required.


-----Original Message-----
From: 	Fuller, Dave
Sent:	Monday, September 24, 2001 10:14 AM
To:	Whitt, Mark
Subject:	RE: Clatsaknie Proposal

 -----Original Message-----
From: 	Whitt, Mark
Sent:	Monday, September 24, 2001 11:12 AM
To:	Fuller, Dave
Subject:	RE: Clatsaknie Proposal

There was not an attachment on mine.

 -----Original Message-----
From: 	Fuller, Dave
Sent:	Monday, September 24, 2001 10:09 AM
To:	Whitt, Mark
Subject:	Clatsaknie Proposal

Mark,

Here's my proposal to Clatskanie, due tomorrow.

Dave


The following have been calculated.

1450836-1450840, 1451919-20


Please see attached letter.

Scott A. Turner
Blake, Cassels & Graydon LLP
Suite 2600, Three Bentall Centre
595 Burrard Street, PO Box 49314
Vancouver, BC  V7X 1L3

Tel:  604.631.3318
Fax:  604.631.3309
E-mail:  sat@blakes.com

This e-mail communication is confidential and legally privileged.  If you are
not the intended recipient, please notify me at the telephone number shown
above or by return e-mail and delete this communication and any copy
immediately.  Thank you.

 - LtrtoRSa.DOC


Donald,

Back in October we had the gas received by HPL at the above meter moved to
Strangers Gas pending a call from Coastal to renegotiate a contract for Sept
2000 gas.  Since volumes can no longer be allocated to stranger,s gas it has
been placed on an MJG deal which was the only valid deal available for Sept
2000.
I assume Coastal has not contacted Brian as of yet.  Is it possible to have a
deal created for Coastal with a price of zero?  I know that we definitely do
not want to pay MJG for this gas, but as long as the volume is sitting on
their deal there is a possibility that someone may inadvertently send the
payment out.  Let me know what you think.

Thanks,
Nick
x36454
---------------------- Forwarded by Nick Moshou/Corp/Enron on 01/29/2001
08:34 AM ---------------------------

Donald P Reinhardt@ECT
10/27/2000 11:09 AM
To: Mary Poorman/NA/Enron@ENRON
cc: Nick Moshou/Corp/Enron@ENRON, Anita Luong/HOU/ECT@ECT, Brian M
Riley/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT,
Melissa Graves/HOU/ECT@ECT, Vance L Taylor/HOU/ECT@ECT

Subject: Re: Coastal Ctr# 96008903 Meter 0984179 Sit#135714

Having discussed the matter with Brian Riley, HPL has no intention of
contacting Coastal to negotiate any type of deal affecting the gas received
in September at at Meter 4179.  It was Brian's opinion that the gas should be
considered Strangers gas since HPL has no contract or price.   It is
suggested that Nick Moshou contact his counterpart at Coastal, relaying this
information and suggesting Coastal's trader contract Brian Riley.

Donald

Mary Poorman@ENRON
10/27/2000 10:05 AM
To: Nick Moshou/Corp/Enron@ENRON
cc: Anita Luong/HOU/ECT@ECT, Brian M Riley/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT, Donald P
Reinhardt/HOU/ECT@ECT
Subject: Re: Coastal Ctr# 96008903 Meter 0984179 Sit#135714

Nick,

I understand that they terminated their agreement.  However, I don't feel
that we can confiscate their production.  We need to either pay them for the
gas, or cut a deal to redeliver a like volume to them at another meter.
Given the decrease in prices from September to current and prompt month, I
would guess that they want to be paid.  We won't know that until we call
them.  I don't know where the responsibility lies as far as calling to
explain to them that we took delivery of their gas until the meter was
shut-in.

Please let me know if I can do anything further to assist.

Mary


Is John also responsible for brokerage/futures?  Will he run through Ted?
Will we keep copies?
----- Forwarded by Sara Shackleton/HOU/ECT on 08/18/2000 08:16 AM -----

	John Viverito@ENRON
	08/18/2000 03:37 AM

		 To: Darren Delage/HOU/ECT@ECT
		 cc: Sara Shackleton/HOU/ECT@ECT, Jonathan Whitehead/AP/Enron@Enron
		 Subject: Re: brokerage agreements

Darren-

Currently, we have three ISDA Master Agreements under process.  Our potential
counterparties are Mitsui Marine and Fire Insurance Co., The Industrial Bank
of Japan and Sanwa Bank Ltd.  We have produced these documents based on the
credit worksheets prepared in Houston and in conjunction with Baker &
McKenzie, Tokyo.  Mark Taylor is reviewing the drafts prior to presenting
them to the potential counterparties.

I am not aware of any brokerage arrangements to which Enron Japan Corp. is a
party.  I note that I have copied Jonathan Whitehead on this correspondence,
as he may be able to provide insight regarding plans for entering into such
arrangements.

Best regards,

John

	Darren Delage@ECT
	08/17/2000 12:40 PM

		 To: John Viverito/Corp/Enron@Enron
		 cc: Sara Shackleton/HOU/ECT@ECT
		 Subject: brokerage agreements

Thanks for your response John, I think it provides the clarification that we
need to move forward.
I have one further question for you relating to current ISDA/exchange
agreements that we have in place in Enron Japan.

Below are all exisiting ISDA and brokerage agreements that Financial trading
currently has in place. Does Enron Japan have any ISDA/broker agreements in
place that we can use for the purpose of executing financial trades?
(perhaps with some of the names on the attached list?)If so, do you know what
sort of credit has been extended and/or whether there is netting versus other
commodity books or dedicated activity credit?

If we do not have any agreements in place which would allow us to conduct
trades, do you know who I should contact regarding necessary documentation?

Sincerely,
Darren

---------------------- Forwarded by Darren Delage/HOU/ECT on 08/17/2000 12:12
PM ---------------------------
From: Sara Shackleton on 08/17/2000 11:43 AM
To: Darren Delage/HOU/ECT@ECT
cc: Samantha Boyd/NA/Enron@Enron, Laurel Adams/HOU/ECT@ECT
Subject: brokerage agreements

Darren:  Laurel mentioned that you were interested in existing/pending
brokerage/futures agreements.  Attached are our most recent matrices by Enron
company.  ALL of these agreements are negotiated by legal and must be
executed by the business unit (VP or higher) and Ted Murphy.  Sheila Glover
always sends a request and explanation for new account to legal, compliance
and Ted Murphy.  Legal keeps a comprehensive listing by Enron company in an
effort to avoid confusion.  Legal updates authorized trader lists and trading
resolutions.  Let me know if you have any questions.  Sara


You are crazy.  Did you download that stuff like I told you?  Call me.

To: Dana.Davis@enron.com
cc:
Subject: Re: This email contains a attachment that will need to be

Hi Honey, I am sorry that I did not respond sooner, but I had to reinstall
the software, hopefully I have solved the problem. Will you marry me!!! 0)