8. Pressures.
The Gas delivered by Shipper to the Receipt Points hereunder shall be
delivered at a pressure sufficient to overcome the operating pressure
existing in Houston's facilities from time to time; provided, however, in no
event shall such pressures ever exceed the Maximum Allowable Operating
Pressure ("MAOP") and Shipper shall at its sole cost and expense ensure that
all documentation and data required by the applicable regulatory authority
with regard to Shipper's or Shipper's supplier's overpressure protection
facilities upstream of the Delivery Point are made available and updated on
an annual basis throughout the term of this Agreement.  If Shipper fails to
comply with the foregoing covenant, Houston may, at Shipper's sole cost and
expense, install such overpressure protection facilities (either upstream or
downstream of the metering facilities, as Houston may elect) in order to
ensure compliance with applicable laws and regulations.  The Gas delivered by
Houston to the Delivery Points shall be delivered at the pressure existing in
Houston's facilities from time to time.
9. Quality.
Shipper agrees that all Gas received by Houston at the Receipt Points
hereunder and Houston agrees that all Gas delivered hereunder to or for the
account of Shipper at the Delivery Points hereunder shall be merchantable Gas
which shall:
a. Have a total heating value of not less than nine hundred fifty (950)
British Thermal Units per cubic foot when saturated with wator vapor (gross
basis);
b. Be commercially free of all dust, hydrocarbon liquids, water, suspended
matter, all gums and gum forming constituents and any other objectionable
substances;
c. Not contain more than twenty (20) grains of total sulfur, nor more than
one-fourth (1/4) grain of hydrogen sulfide per one hundred (100) standard
cubic feet at the Receipt Points nor more than one (1) grain of hydrogen
sulfide per one hundred (100) standard cubic feet at the Delivery Points;
d. Contain no more than two percent (2%) by volume of carbon dioxide, two
tenths of one percent (0.2%) by volume of oxygen, and three percent (3%) by
volume of total inerts;
e. Have a temperature of not more than one hundred twenty degrees Fahrenheit
(120F.) or less than forty degrees Fahrenheit (40F.);
f. Not contain more than seven (7) pounds of entrained water vapor per
million cubic feet; and
g. Have a hydrocarbon dewpoint of 45"F or less at pipeline operating
pressures between 200 psig and 1100 psig.
Shipper shall be responsible for odorizing any part of the Gas delivered
hereunder to or for Shipper's account which is diverted and/or used by
Shipper for any purpose for which odorization is required pursuant to
regulations of the Railroad Commission of Texas.
Should the Gas delivered to either party hereunder fail to meet the quality
specifications above, either party shall notify the other and the party
responsible for the deficiency shall make a diligent effort to correct such
failure.  The party receiving the deficient Gas shall have the right to
refuse to accept such Gas for so long as the other party is unable to deliver
Gas conforming to such specifications, or either party may accept delivery of
such Gas or any part thereof during such period.  Should either party's
tender of deficient Gas hereunder extend for a period greater than sixty (60)
Days, the receiving party shall have the right and option at the end of such
sixty (60) Days, and as long thereafter as the other party continues to
tender such non-conforming Gas, to terminate this Agreement on twenty-four
(24) hours advance written notice to the other party stating the effective
date of such termination.
10. Metering Facilities and Measurement.
Except as otherwise agreed by Houston, the metering facilities to measure the
volumes of Gas delivered at each Receipt Point and Delivery Point shall be
maintained and operated or caused to be maintained and operated by Houston.
The Btu content of the Gas shall be determined by the facilities at the
Receipt Points and Delivery Points.  Such facilities and measurement data
with respect to the Gas covered hereby shall at all reasonable times be
subject to joint inspection by the parties hereto.  Gas volumes measured with
the use of orifice meter(s) shall be determined in accordance with the
provisions of the Gas Measurement Committee Report No. 3 of the American Gas
Association, as revised in 1985 and as amended and/or supplemented from time
to time, and Gas volumes measured with the use of positive meter(s) shall be
determined on the basis of Gas Measurement Committee Report No. 7 of the
American Gas Association, as revised in 1981 and as may be amended and/or
supplemented thereafter from time to time.  The unit of volume for
measurement of Gas delivered hereunder shall be one (1) cubic foot of Gas at
a base temperature of sixty degrees Fahrenheit (60F.) and at an absolute
pressure of fourteen and sixty-five one hundredths (14.65) pounds per square
inch absolute.  Atmospheric pressure for each of the Receipt Points and
Delivery Points shall be assumed to be the pressure value determined by
Houston for the county in which such point is located pursuant to generally
accepted industry practices (but not less than 14.1 psia nor more than 14.7
psia) irrespective of the actual atmospheric pressure at such points from
time to time.  Temperature shall be determined by a recording thermometer of
standard make.  If recording charts are used, the arithmetical average of the
temperature recorded during periods of flow for each chart, the factor for
specific gravity according to the latest test therefor, and the correction
for deviation from Ideal Gas Laws applicable during each chart period shall
be used to make proper computations of volumes hereunder.  If electronic flow
measurement is used, continuous temperature, static pressure and differential
pressure monitoring will be applicable.  If electronic measurement is used in
conjunction with on-site chromatograph, continuous monitoring of specific
gravity will be applicable; otherwise the volumes computed using a fixed
value specific gravity factor shall be corrected to reflect the actual
specific gravity of the flowing Gas as determined by a chromatographic
analysis of the sample accumulated during the same period of flow or, in the
case of spot samples, the specific gravity factor determined by
chromatographic analysis shall be applied to volumes delivered during the
succeeding chart periods.  The correction for deviation from the Ideal Gas
Laws shall be computed and applied to volumes calculated by electronic
measurement devices.  Specific gravity and Btu shall be determined by such
methods as may be developed by Houston through use of a continuous Gas sample
accumulator, on premises analysis, or by spot samples taken at the Receipt
Points and Delivery Points at intervals determined to be appropriate by
Houston.  Results from a continuous sampler shall be used to calculate
volumes delivered during the same period in which the sample was accumulated;
provided, however, that Houston reserves the right to adopt the practice of
using the Btu content measured for a period prior to the Month of Gas flow in
calculating the quantity of Gas transported during a given Month.  Results
from a spot sample shall be used to calculate volumes during the subsequent
period until another sample is taken.  The arithmetical average of the
continuous temperature recorded during each chart period, the factor for
specific gravity according to the latest test therefor, and the correction
for deviation from Ideal Gas Laws applicable during each chart period shall
be used to make proper computations of volumes hereunder.  The gross heating
value (Btu content) used shall be determined by adjusting the Btu content
measured to reflect the actual water vapor content of the Gas delivered at a
temperature of sixty degrees Fahrenheit (60F.) at an absolute pressure of
fourteen and sixty-five one-hundredths (14.65) pounds per square inch
absolute.  If the water vapor content of the Gas delivered is equal to or
less than seven (7) pounds per one million cubic feet (1,000 Mcf), the Gas
shall be considered dry.  The volume of Gas measured shall be multiplied by
the applicable Btu content for such Gas (either that measured for the Month
of Gas flow or for the designated period of Btu measurement that may occur
prior to the actual Month of Gas flow) to determine the total volume of Gas
in MMBtu.  In the event that the aggregate quantity of Gas tendered by
Shipper and accepted by Houston under this Agreement during any Month at a
given Receipt Point equals a quantity less than the product of (i) 300 MMBtu
per Day times (ii) the number of Days in the Month during which Shipper
tendered Gas to Houston in accordance with a confirmed nomination, then
Houston may, at its election, charge Shipper a metering fee ("Metering Fee")
of $350 for such Month with respect to each such Receipt Point.

Eric Gillaspie
713-345-7667
Enron Building 3886


The report named: West VaR and Peak Position Report By Trader <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=26&report_name=West+VaR+and+Peak+Position+Report+By+Trader&category_cd=6&category_name=WEST&toc_hide=1&sTV1=6&TV1Exp=Y&current_efct_date=10/25/2001>, published as of 10/25/2001 is now available for viewing on the website.


I made a few small changes to the storage balances on CGAS.  I had to create
a new deal ticket starting Sep 1st because the name changed from CES to "The
New Power Company".

Joanne,  I made a change to Aug 31st.

Kyle, I think you need to change tagg.

Let me know if anyone has questions.


While incentivizing the deal may be helpful from a business perspective, I'm
not sure it will do much with the timing at the SEC.  As you know, there are
two major issues: (i) the integration, which we believe we have more or less
under control, and (ii) the capital structure of the resulting system, which
is dependent in the first instance on the timing of the Sierra auction.

The cap structure is a very serious issue.  There is a perception on the part
of the staff that Sierra is significantly overextended.  As you know, the SEC
generally requires registered holding companies to maintain a minimum of 30%
common equity.  Currently, the best that Sierra can offer is that they will
be at 20.8% common equity at closing, with a representation that Sierra will
increase its consolidated common equity to approximately 29 percent as a
result of: (a) proceeds from the sale of generating assets of Sierra Pacific
and Nevada Power aggregating approximately $1 billion, 100 percent of which
will reduce debt of the consolidated company; (b) proceeds from divestiture
of non-core assets, or some combination of common equity and divestiture of
non-core assets, which together would be approximately equivalent to the
issuance of $260 million in terms of impact on Sierra Pacific's equity ratio;
(c) issuance of up to $600 million of hybrid securities; and (d) increased
retained earnings realized from the combined operations of Sierra and PGE
aggregating approximately $80 million in 2000 and $100 million in 2001.

In other matters, the SEC staff has indicated that it would give "credit"
toward equity capitalization if the company has executed definitive
agreements for sale of the subject assets.  What is the status of the Sierra
auction, and how quickly will they have signed agreements?

Concerning state issues and the intervenorts, Steve Oldham and the folks from
Skadden are meeting with the GC of the Nevada Commission (at his request)
next week to clean up the Nevada issues so I don't think that will be a
problem.

What remains is the monkey wrench intervenors throw into any 1935 Act
proceeding.  Regardless of how successful we are on the above issues, the
presence of the California intervenors means that the matter must be
presented to the full SEC for consideration.  Because of the delays inherent
in that process, we will need all FERC and state issues resolved by
September, or early October at the latest, in order to have a realistic
chance at a year-end order.

The only other thing that might prove helpful would be a price escalation
provision so we could tell the SEC that there is a significant cost
associated with their failure to act in FY 2000.  There are a number of
concerns with this approach: among other things, we would have to explain to
the SEC why we're inserting it now.

I realize this is a bit long-winded but it seems we're getting close to our
last best shot at year end and I'd think we'd want to plan our strategy
carefully.

Best,

Joanne

>>> <Dwight.Larson@enron.com> 08/16/00 10:20AM >>>
A meeting with Walt Higgins has been scheduled for Thursday in Las
Vegas and attendees from Enron will be Mark, Mitch and Steve.  The
discussions will probably be more global than specific, however I'ld like
everyone to forward to me their wish list  of items so I can summarize them
for Mark prior to their meeting.  I'ld also appreciate input from everyone
on the impact of amending the stock purchase agreement ( i.e. incorporating
some incentive type payment if the deal closes this year) and the
sensitivity to the timing of that amendment. What is the impact if it is
done 1) prior to OPUC settlement, 2) prior to the Oregon Commission ruling,
or 3) before or after the FERC addresses our filing.
After collecting peoples input, I'll circulate the summary this
afternoon.
Paul , could you please forward this to Mike Morgan - I didn't have
his e-mail address.
thanks
dwight


TODAY'S HEADLINES
The New York Times on the Web
Tuesday, February 5, 2002
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com

QUOTE OF THE DAY
=========================
"I got 3,500 over 10 years, but our friend, Kay Bailey
Hutchison, she got 99,000. Heck, I'm the chairman of the
committee. That wasn't a contribution. That was an insult."
-ERNEST F. HOLLINGS, chairman of the Senate Commerce Committee, when asked if he
had received contributions from Enron.

http://www.nytimes.com/2002/02/05/business/05ENRO.html?todaysheadlines

NATIONAL
=========================
Bush's Aggressive Accounting

In short, the administration's strategy is to prevent
criticism of what amounts to a fiscal debacle by wrapping
its budget in the flag.
http://www.nytimes.com/2002/02/05/opinion/05KRUG.html?todaysheadlines

-----

Cutting Taxes Faster Would Help Everyone

Government can't inject money into an economy unless it
first   takes the money out.
http://www.nytimes.com/2002/02/05/opinion/05MITC.html?todaysheadlines

-----

Security Kicks in Before the Winter Games

With opening ceremonies just four days away, all the plans
to keep the Winter Olympics  safe are kicking in.
http://www.nytimes.com/2002/02/05/olympics/05UTAH.html?todaysheadlines

-----

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INTERNATIONAL
=========================
Annan Cautions Business as World Forum Ends

The United Nations chief closed the World Economic Forum by
telling business leaders that "business cannot afford to be
seen as the problem."
http://www.nytimes.com/2002/02/05/international/05FORU.html?todaysheadlines

-----

Iraq Proposes U.N. Talks, and Gets a Wary Reply

Iraq's offer for talks had all the hallmarks of an attempt
by its leader, Saddam Hussein, to build up international
resistance to an American attack.
http://www.nytimes.com/2002/02/05/international/middleeast/05NATI.html?todaysheadlines

-----

Israeli's Dual Job: Chief of Defense, and Dissent

The man proposing to lead a coalition to unseat the prime
minister is also in charge of leading the military methods
the coalition is attacking.
http://www.nytimes.com/2002/02/05/international/middleeast/05ISRA.html?todaysheadlines

-----

MORE INTERNATIONAL NEWS:
http://www.nytimes.com/pages/world/index.html?todaysheadline

BUSINESS
=========================
Senators to Vote to Issue Subpoena to Ex-Enron Chief

Republicans and Democrats on the Senate Commerce Committee
said they would vote Tuesday to issue a subpoena to compel
an appearance by Kenneth L. Lay.
http://www.nytimes.com/2002/02/05/business/05ENRO.html?todaysheadlines

-----

Deal at Enron Gave Insiders Quick Fortunes

A small group of insiders at Enron made millions in profits
in secret deals with some of the partnerships that
ultimately brought the company to its knees.
http://www.nytimes.com/2002/02/05/business/05SOUT.html?todaysheadlines

-----

Ernst & Young Latest Auditor Moving to Alter Some
Practices

Ernst & Young said that it would stop selling
information technology services to companies it audits and
that it would no longer serve as internal accountant and
external auditor at the same company.
http://www.nytimes.com/2002/02/05/business/05ACCO.html?todaysheadlines

-----

MORE BUSINESS NEWS:
http://www.nytimes.com/pages/business/index.html?todaysheadline

TECHNOLOGY
=========================
Hewlett Lifts Profit Outlook and Each Side in War Exults

Both sides in the spirited proxy contest over
Hewlett-Packard's plan to buy Compaq Computer pointed to
HP's performance, which was better than expected, as proof
of their claims.
http://www.nytimes.com/2002/02/05/technology/05HEWL.html?todaysheadlines

-----

Williams Companies Lists Possible Steps to Bolster Rating

The Williams Companies said that it planned to step up asset
sales and that it might issue shares to strengthen its
balance sheet and retain its investment-grade credit
rating.
http://www.nytimes.com/2002/02/05/business/05WILL.html?todaysheadlines

-----

Muslims Feel Sept. 11 Chill as Mecca Plays It Safe

The Saudis have begun collecting personal data from Muslim
visitors to start a system for tracking and identifying
them.
http://www.nytimes.com/2002/02/05/international/middleeast/05SAUD.html?todaysheadlines

-----

MORE TECHNOLOGY NEWS:
http://www.nytimes.com/pages/technology/index.html?todaysheadline

POLITICS
=========================
As Troubles Multiply, the Budget Equation Changes

On Monday, President Bush sent Congress a new budget plan,
which has little extra money for anything other than
national security and tax cuts.
http://www.nytimes.com/2002/02/05/national/05ASSE.html?todaysheadlines

-----

Senators to Vote to Issue Subpoena to Ex-Enron Chief

Republicans and Democrats on the Senate Commerce Committee
said they would vote Tuesday to issue a subpoena to compel
an appearance by Kenneth L. Lay.
http://www.nytimes.com/2002/02/05/business/05ENRO.html?todaysheadlines

-----

Anti-Tax Leader Confesses He Used Campaign Money

Tim Eyman, a businessman who was the champion of several
tax-cutting initiatives in Washington State, said on Monday
that he had profited personally from political fund-raising
drives.
http://www.nytimes.com/2002/02/05/politics/05REFE.html?todaysheadlines

-----

MORE POLITICS NEWS:
http://www.nytimes.com/pages/politics/index.html?todaysheadline

SPORTS
=========================
When Push Came to Shove, Patriots Did Both

The Patriots exerted their will on the Rams and forced the
Super Bowl to be played on their terms.
http://www.nytimes.com/2002/02/05/sports/football/05GRID.html?todaysheadlines

-----

Introverted Coach Finally Out of His Shell

As a winning Super Bowl coach, the Patriots' Bill Belichick
has attained a stature that for years was thought to be
beyond his personality.
http://www.nytimes.com/2002/02/05/sports/football/05ANDE.html?todaysheadlines

-----

In Great Matchup, Only Nets Are Great

Led by Keith Van Horn's 25 points, the Nets took apart the
Kings, who had the N.B.A.'s best record entering the
lopsided game.
http://www.nytimes.com/2002/02/05/sports/basketball/05NETS.html?todaysheadlines

-----

MORE SPORTS NEWS:
http://www.nytimes.com/pages/sports/index.html?todaysheadline

ARTS
=========================
Restoration of a Leonardo Is Ruled Out

Critics of the proposed restoration of "The Adoration of the
Magi" see the decision as a moral victory and a personal
vindication.
http://www.nytimes.com/2002/02/05/arts/design/05ARTS.html?todaysheadlines

-----

WNYC-FM Reassesses Program Format

Station managers are studying whether to cut back
permanently on classical music as part of a larger plan to
revamp all of its programming.
http://www.nytimes.com/2002/02/05/arts/05STAT.html?todaysheadlines

-----

A Dead Man's Failed Muse and Lost Women

Athol Fugard's "Sorrows and Rejoicings" is a   play about
irrevocably divided selves.
http://www.nytimes.com/2002/02/05/arts/theater/05SORR.html?todaysheadlines

-----

MORE ARTS NEWS:
http://www.nytimes.com/pages/arts/index.html?todaysheadline

NY REGION
=========================
Electricity Crisis Eases in New York

New York City, which faced an electricity crisis last
summer, now has all the energy it needs through at least
mid-2003 and perhaps beyond, experts say.
http://www.nytimes.com/2002/02/05/nyregion/05POWE.html?todaysheadlines

-----

So Long New York, and Thanks for a Mostly Well-Ordered Bash

In the end, the World Economic Forum went off so smoothly
that  aside from some minor traffic inconveniences  the
lives of most New Yorkers were unaffected.
http://www.nytimes.com/2002/02/05/nyregion/05RESU.html?todaysheadlines

-----

In Albany, School Boards Lose Backing

Black and Hispanic members of the State Assembly are saying
New York City's community school boards have failed
minority communities.
http://www.nytimes.com/2002/02/05/nyregion/05BOAR.html?todaysheadlines

-----

MORE NY REGION NEWS:
http://www.nytimes.com/pages/nyregion/index.html?todaysheadline

OP-ED
=========================
Bush's Aggressive Accounting
By  PAUL KRUGMAN
In short, the administration's strategy is to prevent
criticism of what amounts to a fiscal debacle by wrapping
its budget in the flag.
http://www.nytimes.com/2002/02/05/opinion/05KRUG.html?todaysheadlines

-----

The Wrong Lessons of the Somalia Debacle
By NICHOLAS D. KRISTOF
With luck, Afghanistan will again prove that helping
war-torn third-world countries is a smarter policy than
running away from them.
http://www.nytimes.com/2002/02/05/opinion/05KRIS.html?todaysheadlines

-----

Is the Human Rights Era Ending?
By MICHAEL IGNATIEFF
If Washington   turns away, the human rights movement loses
the   one government whose power can be   decisive in
stopping human rights   abuses.
http://www.nytimes.com/2002/02/05/opinion/05IGNA.html?todaysheadlines

-----

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Cindy,

Here is the gty for execution.

Thanks for your help!!!

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


Jeff,

I took care of the Executive Viewer.  I talked to Frank and apparently
Lavorato wants to see the Canadian breakout next week.  I already have
everything set up to do the positions, but we need to work on Canada to get
the P&L.  Intra-Canada has a breakout but it's only in Canadian dollars.  I
left a message for Kathy to call me.  Just wanted to give you a heads up.

Talk to you Monday.
Robin

Jeffrey C Gossett
11/18/2000 12:40 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Urgent!!!!!!!

---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 11/18/2000
12:33 PM ---------------------------

John J Lavorato@ENRON
11/18/2000 12:28 PM
To: Jeffrey C Gossett/HOU/ECT@ECT
cc:
Subject:

Jeff

My management line is hidden on my hard copy report but not on the executive
viewer.  Make sure its hidden on the executive viewer.


Andy,

I have not received comments from Jay yet.  I called him this morning, but we have not connected yet.

Drew

 -----Original Message-----
From: 	Zipper, Andy
Sent:	Monday, January 29, 2001 11:02 AM
To:	Ries, Drew
Subject:	RE: Kiodex/EOL Co-Marketing Agreement

Drew did you recieve Jay Webb's comments regarding what we discussed. If not I can mark up doc and send back.


Russ:

A couple of questions
1- Check the DOE Northeast Heating season  report.   There seem to be a lot
of LNG terminal and facilities in the Northeast. How do they work? What are
the logistics of transportation etc...

2- Arnold's buddy has been looking into the logistics of  trucking LNG to CA.
Is this possible? Can investigate the probability?

Thanks
JF


PJM is also confirming 78 MW HE 14; I'll fix my deal - thanks....

 -----Original Message-----
From: 	Cashion, Jim
Sent:	Wednesday, August 15, 2001 9:13 AM
To:	Campbell, Larry F.
Cc:	Mansfield, Marci
Subject:	8/13

Larry........Deal 729346, NY trans id 5079112, NY is showing that HE 14 was 78 mw not 100. I made changes to enpower for deal 729346.

Marci........For PJM the deal is 729345 and enpower is showing 100 mw as well for you.  Could you please check to see what amount PJM is showing for this hour.

Jim Cashion
Enron
Volume Management
713-345-2714


thanks

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 2:03 PM
To:	Maggi, Mike
Subject:	RE:

you are weird!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 03, 2002 2:03 PM
To:	Nelson, Michelle
Subject:	RE:

um, i dont know

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 2:03 PM
To:	Maggi, Mike
Subject:	RE:

so why are you now?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 03, 2002 2:03 PM
To:	Nelson, Michelle
Subject:	RE:

i wasnt

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 2:02 PM
To:	Maggi, Mike
Subject:	RE:

everyone.  i thought that you weren't talking to me for a while?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 03, 2002 2:02 PM
To:	Nelson, Michelle
Subject:	RE:

everyone,  who is down there

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 2:02 PM
To:	Maggi, Mike
Subject:	RE:

he he i am so funny!  and you are still a big jerk!  who all is up there?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 03, 2002 2:01 PM
To:	Nelson, Michelle
Subject:	RE:

thanks

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 2:01 PM
To:	Maggi, Mike
Subject:	RE:

don't want to

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 03, 2002 2:00 PM
To:	Nelson, Michelle
Subject:	RE:

why

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 1:58 PM
To:	Maggi, Mike
Subject:	RE:

um no

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 03, 2002 1:58 PM
To:	Nelson, Michelle
Subject:	RE:

no i did so come up and visit

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Thursday, January 03, 2002 1:54 PM
To:	Maggi, Mike
Subject:

did you not think that was funny?


-----Original Message-----
From: 	kdavis@manfinancial.com@ENRON
Sent:	Friday, November 02, 2001 11:06 AM
To:	Arnold, John
Subject:	RE: Positions

734 and we're done

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Friday, November 02, 2001 5:09 PM
To: kdavis@manfinancial.com
Subject: RE: Positions

we have already done the aug 03, how many may 02 do you want us to do?

    -----Original Message-----
   From:   kdavis@manfinancial.com@ENRON
   Sent:   Friday, November 02, 2001 10:54 AM
   To:     Arnold, John
   Subject:  RE: Positions

   John

   The simplest thing would be to disregard the 926 Aug'03 instructions and
   to
   do the 1660 May 02 only....

   Your call

   Kevin

   -----Original Message-----
   From: Davis, Kevin (LDN Int)
   Sent: Friday, November 02, 2001 4:48 PM
   To: 'John.Arnold@enron.com'
   Subject: RE: Positions

   The answer would be yes if it were the only ex-pit instructions we
   received
   today.

   Given that you have instructed us already to ex-pit the 926 August 03
   position, we would only want you to transfer 734 of the May 02 futures.

   If you only do the 1660 May 02 or, if you do the 926 august 03 and 734
   May
   02 then YES, we will wire the money immediately after one or other of
   those
   expits are achieved.

   Kevin

   -----Original Message-----
   From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
   Sent: Friday, November 02, 2001 4:43 PM
   To: kdavis@manfinancial.com
   Subject: RE: Positions

   Will you wire the money immediately when this is done?

       -----Original Message-----
      From:   kdavis@manfinancial.com@ENRON
      Sent:   Friday, November 02, 2001 10:10 AM
      To:     jarnold@enron.com
      Cc:     Wesner-Soong, Sarah; Deffner, Joseph
      Subject:  Positions

      Dear John

      In place of the original transfer of options that we sent you
   yesterday,
      I
      propose the following transfer instead. You will note that it
   includes
      no
      options at all.

      short 1660 May 2002 futures

      Please understand that this entire affair is making me as
   uncomfortable
      as
      it is clearly making you.

      Kind regards
      Kevin R Davis

   **********************************************************************
   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
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   copies of the message. This e-mail (and any attachments hereto) are not
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   a
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   **********************************************************************


Dan,

I can't remember if I have sent this to you already but take a look at it.
We will need to discuss this tommorrow.
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 11/29/2000
09:06 AM ---------------------------

Phil DeMoes
11/28/2000 09:46 AM
To: amkilpat@southernco.com
cc:

Subject: ENRON TRANSPORTATION REQUIREMENT

Alan,

Did your attorney have any opinion on this language ?
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 11/28/2000
09:43 AM ---------------------------

Les Webber @ ENRON_DEVELOPMENT

11/09/2000 04:32 PM
To: Amkilpat@southernco.com
cc: Phil DeMoes/Corp/Enron@ENRON

Subject: ENRON TRANSPORTATION REQUIREMENT

Alan:

Thank you very much for talking today with Phil and myself.  We want to
continue this dialogue as we attempt to resolve our quality issues at Elba
Island with Southern LNG (and El Paso Merchant Energy).

I wanted to send you, on a confidential basis, the firm transportation
obligations as set forth in our arrangements with El Paso Merchant Energy, in
order to determine how they might complement any you might have with respect
to your natural gas demand load upstream of the Elba facility on the Southern
Natural Gas pipeline system.

"If Enron Americas nominates gas for transportation on the SNG pipeline
system, (i) Enron Americas or an affiliate thereof must have subscribed
(directly from SNG) to firm transportation on the SNG system for a term not
less than the lesser of ten (10) years or the then-remaining term of the
Agreement, (ii) the Elba Island Facility must be, and remain during the
duration of such firm transportation, the primary receipt point for such firm
transportation, and (iii) such firm transportation (in MMBtu per day) shall
be for a quantity equal to the quantity of gas (in MMBtu per day) nominated
in the Redelivery Notice to be redelivered to Enron Americas on the SNG
system ((i), (ii) and (iii) collectively, the "Firm Transportation
Requirement")."

After you have had a chance to evaluate these provisions, I would like to
discuss the matter with you.

Regards.
Les Webber


Bob -

Here are the BETA and Fee Agreement for TFS.

Mark
Senior Counsel, EWS
Phone:     713-345-8897
Facsimile: 713-646-3490
E-Mail:      Mark.Greenberg@enron.com


I cannot attend.


A luncheon meeting to revise revenue model has been set for tomorrow, May 10, from 12:00 Noon - 1:30 PM.  Sorry about the late notice, but it was a real challenge to find time in Sally's calendar this week.  Sally realizes that some of you may not be able to attend because of the short notice, but if you are available, please respond back to me by email for a lunch headcount.  Location will be EB 1336.

Thanks,
Patti x39106


F.P.,

Do you have your schedule yet?  Let me know as soon as you can.  I need to
schedule a trip with work and I'll schedule it around your visit.  Looking
forward
to seeing you.

KR


industrial demand the scary thing.  no question there are some steel mills
and auto factories and plastics plants that were on last november that arent
coming up now and its not due to gas prices.  the economy sucks and it will
affect ind demand.

slafontaine@globalp.com on 02/28/2001 08:03:43 AM
To: John.Arnold@enron.com
cc:
Subject: Re: mkts

at least a myn dollars-need to talk to pira on that. excellant point. need to
do
some margin analyses . having said all that look at corporate earnings from
last
year to this year regardless of natgas costs as a feed industrials will be
running slower and consumers just now feeling the pinch as rate increases have
only just recently gotten approved and passed to the likes of us and people
less
fortunate than us.

John.Arnold@enron.com on 02/27/2001 11:05:40 PM

To:   Steve LaFontaine/GlobalCo@GlobalCo
cc:
Fax to:
Subject:  Re: mkts

but that's my point.  the demand destruction roared its ugly head beginning
of Jan.  The price level was $9.  Of course there is a lag.  Let's make up
a lag time...say one month.   On Dec 1 cash was trading $6.70.  Probably a
similar lag on the way down.  Cash is $5.20 today.  How much lost demand
will there be in a month if we're still $5.2?   million dollar question if
you can answer that.

slafontaine@globalp.com on 02/27/2001 08:12:32 PM

To:   John.Arnold@enron.com
cc:
Subject:  Re: mkts

off the cuff i wud say tho same goes for 5.00 gas-currently 6-7 bcf/day
swing y
on y too much, to buy this level you need to take the view that industrial
america and residential and end users will be able to get back on their
feet and
recocover a lion share of the 4-4.5 bcf/d demand destruction(this assumes
as
current. very little if any dist fuel switching. i think the answer is
no-not
unless the economy was jump starter quickly-2nd q is gone,so maybe th 4q.
 remember the demand destruction and industrial shit really just started
only 6
weeks ago-me thinks it will take longer than that to get back into full
swing.
we all trade the y on y gap...all things remaining equal(ie term px for the
summer), starting april we'll have a surplus the other way by july barring
a
greenhouse in the ohio valley
    good to hear your view pt as always-even if it is wrong!!! ha

John.Arnold@enron.com on 02/27/2001 08:23:22 PM

To:   Steve LaFontaine/GlobalCo@GlobalCo
cc:
Fax to:
Subject:  Re: mkts

Good to hear from you.
After a great F, had an okay G.  Held a lot of term length on the
risk/reward play.  Figured if we got no weather, all the customer and
generator buying would be my stop.  It was.  Amazing that for the drop in
price in H, the strips have really gone nowhere.  just a big chop fest.
i here your arguments, but think they are way exagerated.  Agree with 1.5-2
bcf/d more supply. Call it 2 with LNG.  Imports from Canada should be
negligible.  Now let's assume price for the summer is $4.  No switching,
full liquids extraction, methanol and fertilizer running.  Electric
generation demand, considering problems in west and very low hydro, around
1.5 bcf/d greater this year with normal weather.  Means you have to price 2
bcf/d out of market.  Don't think $4 does that.  What level did we start
really losing demand last year?  It was higher than 4.   concerned about
recession in industrial sector thats occuring right now.
Think gas is fairly valued here.  Dont think we're going to 7.  But I think
fear of market considering what happened this past year will keep forward
curve very well supported through spring.  we're already into storage
economics so the front goes where the forward curve wants to go.

slafontaine@globalp.com on 02/26/2001 04:48:06 PM

To:   jarnold@enron.com
cc:
Subject:  mkts

its been a while-hope all is well. not a great few weeks for me in ngas-not
awful just nothing really working for me and as you know got in front of
march/apr a cupla times, no disasters.
   well im bearish-i hate to be so after a 4 buck drop but as i said a
month ago
to you-and now pira coming around. 5.00 gas is a disaster for the natgas
demand.
now production up strongly y on y...you guys agree on the production side?
  i know youve been bullish the summer-think im stll in the minority-but
here
you go, we have y on y supplly up 2/bcf+ demnad loss 3.5bcf/d, 5.5 bcf/day
y on
y swing . then i submit as we started to see due huge rate increases R/C
demandd
energy conservation will be even more dramatic this summer which will
effect
utilty demand/power demand ulitmately.  if pira rite we lost 1.56 in jan
for
this factor i say it cud be bigger this summer as ute loads increase, power
pxes
rise and consumers become poorer. there will be more demand flexibilty in
the
summer part in the midcon and north as AC is more of a luxury item than
heat. i
say 5-6% lower use in residentail/utilty power consumption due rationing is
another .7/1bcf/d loss.
  put all this together we wud build an addional 1284 apr thru oct on top
of
last years 1715  build basis last year temps and todays prices. takes us to
3.6
tcf or so. what am i missing my man-summer has to go to 4 bucks or lower to
restore demand??? thots.

as far as that other thing, the p&c its still alive, shud know more soon
and ill
keep you posted.


Pre-FOMC and the market is, to quote Joe Cocker, "Feelin' Alright". The Dow
Industrials shot up over100 points in the morning and hovered there to close
up over 135. The Nasdaq followed suit in the morning, came in in the
afternoon, and rose again in the last hour to close up over 65. The street
liked the MO NA deal - MO (Philip Morris) up over 15%; NA (Nabisco Holdings)
also in the green - lots of the food stocks joined the party - HNZ (HJ
Heinz), DOL (Dole Food), DLM (Del Monte Foods), KBL (Keebler Foods) and RAL
(Ralston Purina) all closed in the green. President Clinton mid-day
celebration of the  completion of the Human Genome mapping had mixed results
for the space - CRA (PE CP Celera) down over 12, BGEN (Biogen Inc) down over
4, PDLI (Protein Design) down over 14 while GENE (Genome Therapy), AMGN
(Amgen Corp),  DNA (Genentech) and IMNX (Immunex) all closed up...Things
weren't very chipper with INTC (Intel), MOT (Motorola) and AMD (Advanced
Micro Devices) all closing in the red - guess that Celeron news was abit of
a yawn. But it wasn't all grim in tech with ORCL (Oracle), SUNW (Sun
Microsystems), CA (Computer Associates), AAPL (Apple Computer) all up over
4% and MSFT (Microsoft), DELL (Dell) and IBM up over 2%. There were a couple
of tech blow ups with INKT (Inktomi) down over 25 on news that YHOO (Yahoo)
isn't using there search engine for the main site anymore - in addition HLIT
(Harmonic Inc) pre-announced negatively after the close and is trading down
25% in after hours. In the CEUT Universe - CTAC* (1800 Contacts) continues
the climb - up over 2.... BWAY* (Breakaway Solutions) down over  3 1/2...
PSEM* (Pericom Semiconductors) down over 3, ZRAN* (Zoran Corp) up 5... CATT
(Catapult Communications) up over 10%... JDSU* (JDS Uniphase) up over 2, NT*
(Nortel Networks) up over 3... ANCR* (Ancor Communications) up over 3, NTAP*
(Network Appliance) up over 5, PRCM* (Procom Tech Inc) up over  3... PROX*
(Proxim) up over 2 and GOAM* (Goamerica) up over 2 (over 16%) on the day and
continuing to rise in after hours after announcing a deal with HWP
(Hewlett-Packard) to use  their tech. - Jason Tsai was very bullish on both
these names in the  morning meeting.... MERQ* (Mercury Interactive) down
almost 3, MUSE* (Micromuse) up over 9, VRTS (Veritas Software) up
3...GILTF* (Gilat Satellite) up over 2, GMH* (General Motors H) down over 4,
LLL* (3-L Communications) down over 1 1/2, PGTV+ (Pegasus) up over 2... SIMG
(Silicon Image) up over 3.... WCII (Winstar Communications) down over
2......... In IPOland - lots coming Tues. - Click Commerce (CKCM) b 2 b e-
commerce for manufacturing co. - priced mid-range; Marvell Tech (MRVL) -
circuits for comm. markets - priced mid-range; Stratos Lightwave (STLW)
broadband optical components - priced above range; eFunds Corp. (EFDS)
-electronic debit payment - priced below range/ General feeling is no hike
now but who knows come August.

European Regulators nix WCOM, FON deal.

Webvan buys Homegrocer.

Ariba buys SupplierMarket.com

Liberty Media joins MSFT to offer high speed access in Japan.

Loudcloud - Marc Andreessen's new venture to aid co.s going to net - gets
$120 million in new funding.

Dow Jones - following NY Times in holding off on net tracking stock (market
conditions).

Lycos - buys MetroSplash owner of Matchmaker.com.

COM21 - broadband access systems - buys BitCom Inc. engineering firm.

ATHM (Excite@Home) - new click video service - broadband app to show video
content (Atom Films, Mondo Media, Bloomberg, iFilm.....) has animated host
"Baily" - girl next door.

DCLK - more privacy concerns - collected data on people going to government
anti - drug site.

MobileLogic (mobile data producer) - buys Katahdin consulting - strategic
tech services provider.

page 1 WSJ - post mortum on Boo.com

VSAT+ - addition to army contract.

WSJ Heard - AMZN* - how much is it really worth?

AETH - wireless data service deal with MSFT.

NPIX - revenue shortfall.

Q replaces US West in S&P 500.

Scient down 20% as customer goes bankrupt.

Freeserve - down over 15% on Deut T news.

Consumer Union - doesn't like T purchase of MediaOne.

Palm - expansion slot on new models - gadgets coming soon (like
Handspring?).

INTC - worldwide e-commerce testing labs/ expansion in Israel.

Dell - online service to small and med. business - do your e-mail and
purchasing services with us.

Mattel - selling Cyber Patrol (net filtering).

eMotion - $34 million round (dig. media management).

Italy's Bipop buying Germany's Entruim - formation of Pan-European online
bank.

YHOO - over 4% stake in ChinaTimes.com

NNDS (soft for pay tv) - software for settop box which monitors your viewing
habits - could customize programming for viewer.

VC Fund Emicom Group - $57 million VC fund for Israeli telecom and net co.
(main US Investor is Divine Inter Ventures also Charles Wang of CA).

First Union - dumping Money Store.

US Judge to hacker Mitnick - no lecture tour - column must be surpervised.

E*Trade - deal with Cahoot (IM software).

C. E. Unterberg Towbin: Bill Dering marketing in Boston/ Futurelink Roadshow
in San Diego-LA/ Infovista NY-Lunch.

There is talk: GTW for MUEI?/ MAIL - good news coming?/

The information contained herein is obtained from sources we believe to be
reliable but its accuracy and completeness, and that of the opinions based
thereon, are not guaranteed. C.E. Unterberg Towbin, or one or more of its
partners, may have a position in any of the securities discussed herein. All
rights reserved by C.E. Unterberg Towbin. May not be reproduced in whole or
in part without prior written authorization. This report is not an offer to
sell or solicitation of an offer to buy the securities mentioned herein.
*C.E. Unterberg Towbin makes a market in this security and/or has analyst
coverage.
+C.E. Unterberg Towbin makes a market in this security and has been involved
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_____________________________
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================================================================


Attached is the Transwestern Capacity Release Report that lists all capacity release transactions for the period effective 2/1/2002 forward.

A couple of things to note:
PG&E released two separate packages of gas for 25,000/day from Bloomfield to CA [one was at a fixed rate and the other is index based].
Socal indicated that the core customers they provided capacity via capacity release protested a ruling by the CPUC and won; therefore, these monthly prearranged releases are back on for now.  Because the decision came in late, Socal was not able to release for the full month of February.
ENA's capacity on K #24924 was again successfully released for February with TW collecting marketing revenues.

If you have any questions, please let me know.

Thanks,
Elizabeth


Start Date: 4/21/01; HourAhead hour: 5;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042105.txt

---- Generation Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  UNIT_ID: HARBGN_7_UNITS

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  TIE_POINT: SLVRPK_7_SPP
  INTERCHG_ID: EPMI_CISO_ERNIE
  ENGY_TYPE: WHEEL

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 5 / Preferred: -700.00 / Final: -699.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  TRADING_SC: WESC
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 5 / Preferred:   0.42 / Final:   0.39)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE1
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  SC_ID: EPMI


Dear ClickAtHome Participant,

ClickAtHome is interested in making sure you have the latest security tools available to you.  As part of the ClickAtHome program, you may download and update Norton Anti-Virus and BlackICE Defender software from the ClickAtHome Portal.

Norton AntiVirus software repairs computer virus infections automatically.  It scans and cleans your hard drive, diskettes and both incoming and outgoing email.
BlackICE Defender is an industrial-strength anti-hacker system that protects your PC by scanning your DSL, cable modem, or dial-up Internet connection looking for hacker activity. When it detects an attempted intrusion, it automatically blocks traffic from that source, keeping intruders from accessing your system.
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Instructions for accessing the Portal and downloading the software are provided below.
If you have any questions or wish to provide feedback, please email clickathome@enron.com.  Thank you for your participation in ClickAtHome.
The ClickAtHome Team!
__________________________________
To download the software:
1)  Visit the ClickAtHome Portal at www.clickathome.net from your ClickAtHome PC.
2)  Logon to the Portal with your personally created Portal User ID and Password, or create a new account if you have not created a user ID and password by selecting "Create a NEW Account" at the top left corner.  The Portal User IDs and Passwords are created by you.  The Enron Help Desk is not able to assist with Portal support, but if you need any assistance, please send an email to "clickathome@enron.com".
3) Once you have logged on, select "Tools" from the top menu bar.
4) Under the "Secure Download" heading, click on "BlackICE" or "Norton" and log on to the download page using your SAP ID and Date of Birth.
5) Follow the directions provided on screen.


1.   Met with Ron Tapscott, Jim Studdert and Scott Laidlaw, primary subject
insurance claim status.  Scott Laidlaw gave Jim a letter from Siemens in
which Siemens says the generator is a total loss (or cost to repair is
greater than a new one).   Jim will use this to give to the adjustor to get
the survey and adjusting process going again.   Jim needs a point of contact
at Westinghouse to get access to the generator and get it unboxed for the
adjustor to look at.   The generator that is shown in the report is the 2nd
generator in the hold and is not ours.  Apparently our generator has not been
unboxed and thus not directly observed.   Rumor has it that the water line is
not as high on the Enron box as it was on the box of the generator that is
not Enron's.

In my conversation with Mark T this morning I asked him for the name and
telephone number of the Westinghouse point of contact for the adjustor so
that the adjustor can arrange to see the generator.   He stated he would have
SW PM provide us that point of contact.   I will sent Mark an Email reminding
him of such.

At the risk of making anyone or everyone nervous- but I think it is important
for everyone to understand, I believe getting the pay-out value from the
insurance adjustor is a vital element of the Calpine- SW deal.   If the
adjustor comes back with something less than the replacement value (other
than the deductible) because he asserts that the generator was not (as a
result of the water- but is now because it sat in a box unattended) a total
loss, or presently is not  viewed as a total loss then SW will go to full
battle stations asserting the loss occurred when Enron had risk of loss and
damage.

2. Mark T and I talked status.    Mark T asked if we thought that Calpine
would buy the Unit.   Mark T indicated that he spoke with Mike Costa and per
Mike C SW is one to two days away from reaching a deal with Calpine on the
Nov Unit.   I queried Mark on whether SW has other customers for the Nov
Unit.   He was properly evasive, indicated that SW did not, but said
opportunities always come along.  Mark T indicated he questioned whether the
April delivery would work for Calpine- he agreed that an April delivery of
the generator would get them on line in time, but as he saw it he wondered if
Calpine had an engineer in line to build the plant.   In the midst of the
conversation he wondered whether NEPCO would even have the capacity to get it
on line given other work.   I  am not sure whether that was a deliberate
query to see if we were interested in having NEPCO build the plant.

Ben  Summary of conversation-  if we Enron as sure we have a sale with
Calpine, then I think Mark was saying we can do the deal.   I think the ball
is our court to flush out Calpine  (am I spelling it correctly?)- within the
next 24 to 48 hours.

3.  Update on expedited shipment by air.   Cost would be in the order of
magniture of $275,000  +/-  (versus $30- $50K by vessel) , problem- latest
information is that as configured it will not fit on an airplane.  We had
people looking to see if anything can be taken off the generator to get it on
the airplane.   I mentioned this to Mark T, he questioned airplane transport
in that he felt SW transportation people would have already suggested it.

4.  Ron and James.   I queried Mark T to determine whether  SW had gone after
the shipper.  I put it in the context that we did not want to inadvertently
upset what SW might be doing with the shipper.  He did not know.  I doubt we
will get any information on that front.


Find attached the most recent version of the Enron Working Group List

     Please let me know if there are any additional changes

     Ryan

 - wgl.doc

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Hi, Robbi!

How are things going?  Any more news?

We have finally decided on our fabric and the amount of yardage.  What's the next step?

Thanks!

Marie


----- Forwarded by Jeff Dasovich/NA/Enron on 04/20/2001 05:43 PM -----

	"Julee Malinowski-Ball" <jmball@ns.net>
	04/20/2001 05:33 PM
	Please respond to "Julee Malinowski-Ball"

		 To: "Jan Smutny Jones" <smutny@iepa.com>, "Steven Kelley" <steven@iepa.com>,
"Katie Kaplan" <kaplan@iepa.com>
		 cc: "William Hall" <wfhall2@duke-energy.com>, "Tony Wetzel"
<twetzel@thermoecotek.com>, "Tandy McMannes" <mcmannes@aol.com>, "Sue Mara"
<smara@enron.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Steve Iliff"
<siliff@riobravo-gm.com>, "Stephanie Newell"
<stephanie-newell@reliantenergy.com>, "Scott Sadler"
<sadlersa@earthlink.net>, "Roger Pelote" <roger.pelote@williams.com>,
"Richard Hyde" <rwhyde@duke-energy.com>, "Randy Hickok"
<rjhickok@duke-energy.com>, "Rachel King" <rachel.king@elpaso.com>, "Paula
Soos" <paula_soos@ogden-energy.com>, "Nam Nguyen" <nam.nguyen@powersrc.com>,
"Marty McFadden" <marty_mcfadden@ogden-energy.com>, "Lynn Lednicky"
<lale@dynegy.com>, "Larrea, John" <John.g.Larrea@williams.com>, "kent
Palmerton" <kent.palmerton@williams.com>, "Ken Hoffman"
<khoffman@caithnessenergy.com>, "Kate Castillo" <ccastillo@riobravo-gm.com>,
"Kassandra Gough" <kgough@calpine.com>, "Jonathan Weisgall"
<jweisgall@aol.com>, "John Stout" <john_h_stout@reliantenergy.com>, "Joe
Ronan" <joer@calpine.com>, "Joe Greco" <jgreco@caithnessenergy.com>, "Jim
Willey" <elliottsa@earthlink.net>, "Jeff Dasovich" <Jeff.Dasovich@enron.com>,
"Jack Pigott" <jackp@calpine.com>, "Jack Hawks" <jack.hawks@gen.pge.com>,
"Hap Boyd" <rboyd@enron.com>, "Greg Blue" <gtbl@dynegy.com>, "Frazier
Blaylock" <frayblay@aol.com>, "Frank DeRosa"
<fderosa@sanfrancisco.usgen.com>, "Eric Eisenman"
<eric.eisenman@gen.pge.com>, "Eileen Koch" <eileenk@calpine.com>, "Ed Tomeo"
<ed.tomeo@uaecorp.com>, "Duane Nelson" <dnelsen@msn.com>, "Doug Fernley"
<fernley.doug@epenergy.com>, "Dean Gosselin" <dean_gosselin@fpl.com>, "David
Parquet" <dparque@ect.enron.com>, "Curtis Kebler"
<curtis_l_kebler@reliantenergy.com>, "Curt Hatton" <Curt.Hatton@gen.pge.com>,
"Craig Chancellor" <craigc@calpine.com>, "Cody Carter"
<cody.carter@williams.com>, "Carolyn Baker" <cabaker@duke-energy.com>, "Bob
Gates" <bob.gates@enron.com>, "Bob Escalante" <rescalante@riobravo-gm.com>,
"Bob Ellery" <bellery@spi-ind.com>, "Bill Woods" <billw@calpine.com>, "Bill
Carlson" <william_carlson@wastemanagement.com>, "Alex Sugaoka"
<alex.sugaoka@UAECORP.COM>, "Bob Szymanski" <rjszymanski@powerworksinc.com>,
"Chris Ellison" <CTE@eslawfirm.com>, "Andy Brown" <ABB@eslawfirm.com>, "Doug
Kerner" <dkk@eslawfirm.com>, "Jean Munoz" <jmunoz@mcnallytemple.com>
		 Subject: Legislative Status Report Week Ending 4/20

Date: 4/20/01
To: Jan Smutny-Jones, Steven Kelly, Katie Kaplan
Cc: IEP Board of Directors
From: Julee Malinowski-Ball, Edson + Modisette
RE: Legislative Status Report Week Ending 4/20

RECENT EVENTS:

-- IEP with the help of Chris Ellison has been at the negotiating table most
of the week dealing with the most recent amendments to SB 28x.  SB 28x
(Sher/Battin) makes various changes to the siting process including many
IEP-sponsored proposals.  As you will recall, two new provisions were added
to the bill at the last minute before going to the Assembly Floor dealing
with both retrofit schedules and environmental dispatch of generating
facilities.  Per the direction from IEP member companies, IEP has decided
not to negotiate on the environmental dispatch issue. If the provision
remained in the bill, IEP would continue to push the Republicans to hold
their opposed position. We were, however, given the authority to negotiate
on the retrofit issue as long as we were only talking about facilities that
already have retrofit requirements.  I will be faxing out the agreed upon
language which in essence says the ARB shall set a schedule for the
completion of any mandated retrofits.  It does not expand the authority of
the air districts and ARB to mandate retrofits under existing law. The
schedule would require completion of the retrofits by July 1, 2004 or such
later date as the ISO determines is necessary to maintain reliability.

With these amendments, including some clean-up language, SB 28x will be
voted-on on the Assembly floor on Monday and go to the Senate for
concurrence on Tuesday.  The final version will include the following
IEP-sponsored proposals:

? Conforming the timing of offsets for power plants to Clean Air Act
requirements
? Substituting CEQA-style hearings for the trial-like proceedings of the CEC
? Streamlining the permit process for the modernization of existing power
plant sites
? Giving consideration to the positive environmental impacts of a proposed
project.
? Improving the timeliness and coordination of state and local agency
review.
? Extending the current deadlines for the expedited review process
established in AB 970.

Since SB 28x is only a first step in making changes to the siting process,
IEP member should now be thinking about what is next.  IEP proposals still
on the table include:

? Permitting local agencies to make zoning changes or other decisions for
power plants contingent upon CEC CEQA Compliance
? Giving deference to other state and regional agencies
? Easing the threshold for override of local land use requirements.
? Making the ISO responsible for determining interconnection requirements

-- Bad news on the &California First8 issue quickly followed the good news.
The CEC staff analysis which said the State can't require builders of new
power plants to sell electricity here, even as a trade-off for expedited
permitting, was countered by another staff analysis that says the state can.
Both documents cannot be obtained due to attorney-client privilege.  This
issue is coming to a head next week with a decision pending by the CEC to
include a California First clause on the approval of an expedited AES power
plant project.

AB 60x (Hertzberg), which ties to the siting process the requirement that a
developer enter into a contract to sell power to specified California
entities, is still poised to be heard in the Senate Energy committee.  IEP
members company lobbyist should continue to lobby against this measure
regardless of the CEC,s decision on AES, although our arguments are
definitely strengthened if the addition of the clause at the CEC is denied.

-- IEP has finalized negotiations with Senator Burton,s office on amendments
attempting to solve our problem with the eminent domain provision in SB 6x
(Burton), which is the State Power Authority measure.  Attached is a copy of
the bill in PDF form.  The agreed upon language, which clarifies that the
Authority,s purpose is to supplement existing generation activities, can be
found on pages 6-7 (Section 3310), 13 (Section 3341.1) and 16-17
(Section3352). Considering the inflammatory remarks made by Senator Burton
in the press lately regarding seizing generation assets, this was most
likely the best we could get.

-- The first of Senator Dunn,s hearings with the Senate Select Committee to
Investigate Price Manipulation of the Wholesale Market occurred this week.
This week and next week,s topics will be to go over previous investigations
into market power. The committee heard or will be hearing testimony from:
Frank Wolak, Chairman Market Surveillance Committee, CAISO; Eric
Hildebrandt, Manager Market Monitoring, CAISO; and, Elaine Howle, State
Auditor.

--  The Assembly Electricity Oversight Subcommittee met this week and
focused on the issue of natural gas collusion. Testifying before the
committee were representatives from Dynegy and El Paso, commenting on the
rise of natural gas prices and whether illegal market manipulation and
collusion occurred.  The subcommittee plans on putting together a package of
bills related to natural gas issues, which would be the culmination of the
committee,s hearings over the last two months.  This package will be up for
consideration first by the whole special Assembly Energy committee.

-- Governor Davis came out this week supporting the construction of the
Calpine Metcalf Energy Center, the 600-megawatt power plant proposed for the
San Jose region.  The Governor urged the CEC to approve the plant siting so
that construction can begin.

-- Two long-term contracting bills are scheduled for hearings next week.
IEP counsel is currently reviewing AB 57 (Wright) and SB 997 (Morrow) and
will comment on their provisions as soon as possible.

--  Attached is the most recent legislative tracking reports, both the
special session and regular session.  Please let me know if you need copies
of any of these bills.

UPCOMING EVENTS:

MONDAY, April 23rd
Assembly Utilities and Commerce Committee
AB 57 (Wright) ) long-term contracting reasonableness review

TUESDAY, April 24th
Senate Energy Committee
SB 997 (Morrow) ) long-term contracting reasonableness review

WEDNESDAY, April 25th
Assembly Appropriations Committee
AB 62x (Cohn) ) California First
AB 63x (Florez) ) Sale of Kern Power Plant

THURSDAY, April 26th
Select Committee to Investigate Price Manipulation of the Wholesale Market
Informational hearing on the overview of investigations, studies, and
reports regarding the energy crisis.

MONDAY, April 30th
Senate Appropriations Committee
SB 1x (Soto) ) excess profits tax

Assembly Revenue and Taxation Committee
AB 128x (Corbett) ) excess profits tax

ON THE ASSEMBLY FLOOR
SB 6x (Burton) ) State Power Authority
SB 28x (Sher/Battin) ) siting

--end--

Julee Malinowski-Ball
Senior Associate
Edson + Modisette
916-552-7070
FAX-552-7075
jmball@ns.net

 - 2001 Tracking Report.doc
 - 2001 Tracking Report.special session.doc
 - sbx1_6_bill_20010419_amended_asm.pdf


Dale, Richard,

I am ready to cover the cost of Steve's trip to Houston (one month in the
summer).
I think very highly of Steve and think about coaching him a bit to expand his
horizons. I see him as a very valuable asset of Enron and a great leader
in not too distant future. He needs exposure to more diverse business
problems and areas of research. I think it will be in the best interest of
the company
to devote some resources to foster his development.

Vince


Dear Power Outage Database Customer,
Attached you will find an excel document. The outages contained within are forced or rescheduled outages. Your daily delivery will still contain these outages.
In addition to the two excel documents, there is a dbf file that is formatted like your daily deliveries you receive nightly. This will enable you to load the data into your regular database. Any questions please let me know. Thanks.
Greg Elliott
IIR Energy
713-783-5147 x 3481
outages@industrialinfo.com
THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY NAMED ABOVE.  YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION, OR COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS E-MAIL IN ERROR, PLEASE DELETE IT.
 - OUTAGE.dbf
 - 020502R.xls
 - 020502.xls


The Methanol Plant is still on target to begin making spec methanol on
Friday, July 28.   The plant may start taking some natural gas late Tuesday,
July 25.

Because of dredging at the Oxy dock, no barges can be loaded July 31 to
August 3.


Needs you ASAP in his office.


see the doc below for making revisions.  ss
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/05/2000
02:49 PM ---------------------------

Tanya Rohauer
12/08/99 11:14 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Cargil Guaranty

---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 12/08/99 11:14
AM ---------------------------

Russell Diamond
12/08/99 10:32 AM
To: Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Cargil Guaranty

These are the changes that Cargill wanted to Enrons outgoing form of
Guaranty.  I also attached the redline version of the draft with Cargill's
changes.

1.  In the WHEREAS clause, a number of Cargill entities and a number of
Enron entities are listed, as are a number of different types of
transactions.  You should review this carefully to make certain all
appropriate entities are listed, as are all different types of
transactions.

2.  Paragraph 1 - Third Line - add after "Counterparty" ",its successors and
assigns,".

3.  Paragraph 1 (b) - add the following after "($20,000,000.00)" ", together
with reasonable attorney fees (and other reasonable out-of-pocket costs and
expenses) of Counterparty incurred in the enforcement of this Guaranty."

4.  Paragraph 6(b) before "presentment" add "dilligence".

5.  Paragraph 6 - Third Paragraph - Second line - delete "immediately".
 Also - typo at end of line.

6.  Paragraph 6 - Third Paragraph - 5th line - Replace "five (5)" with
"fifteen (15)".

7.  Paragraph 6 - 5th line Delete "such".

8.  Replace Paragraph 7 with the following:  "The Guarantor further
agrees that all payments made by the Company to Counterparty on any
Obligation hereby guaranteed will, when made, be final and agrees that
if any such payment is recovered from, or repaid by, Counterparty in
whole or in part as a result of any final court order in any
bankruptcy, insolvency, or similar proceeding instituted by or against
the Company, this guarantee shall continue to be fully applicable to
such obligation to the same extent as though the payment so recovered
or repaid had never been originally made on such obligation.  However,
in no event shall this provision be interpreted to allow Counterparty
to recover more from the Guarantor, Company, or any combination of the
payments from both such parties, than the Company's total obligations
under the Agreement hereby guaranteed."

9.  Paragraph 8 - Replace "Texas" law with "New York" law.


Brian T. Hoskins
Enron Broadband Services
713-853-0380 (office)
713-412-3667 (mobile)
713-646-5745 (fax)
Brian_Hoskins@enron.net

----- Forwarded by Brian Hoskins/Enron Communications on 12/01/00 09:17 AM
-----

	Denise Naiser@ENRON_DEVELOPMENT
	12/01/00 08:41 AM

		 To:
		 cc: (bcc: Brian Hoskins/Enron Communications)
		 Subject: FW: Crime at Christmas

 - RABBIT.jpg


Thank you to those who have already RSVP'd for this informative brown bag
session.  This is one of the last opportunities you'll have to gain more
insight into our business.  Please RSVP ASAP, Okay?

Jen Fraser, Director of Origination in EGM - December 5 from 12 to 1 in 30C1


Thank you!

-----Original Message-----
From: Davis, Dana
Sent: Friday, October 19, 2001 8:14 AM
To: Engler, Adrianne
Subject: FW: Phone Interview Results

-----Original Message-----
From: Davis, Mark Dana
Sent: Thursday, October 18, 2001 5:17 PM
To: Davis, Dana
Subject: RE: Phone Interview Results

carl zavaretti is the only recommendation i would give.

-----Original Message-----
From: Davis, Dana
Sent: Thursday, October 18, 2001 4:36 PM
To: Davis, Mark Dana
Subject: FW: Phone Interview Results

-----Original Message-----
From: Engler, Adrianne
Sent: Thursday, October 18, 2001 4:30 PM
To: Arnold, John; Ermis, Frank; Forney, John M.; Davis, Dana; Gilbert-smith, Doug
Subject: Phone Interview Results

Good Afternoon!

Please send me the results of your phone interviews.

I need to begin to contact these candidates to arrange their transportation to Houston.

Please e-mail a yes or no for your candidates.

John Arnold - Michael Scarlata/Donald Timpanaro/Jeffrey Zaun
John Forney/Frank Ermis - Brandon Cochran/Ruben Lorenzo/Nicholas Watson
Dana Davis - Carl Zavaretti/Sam Zhou/Yvan Go
Doug Gilbert-Smith - Augustin Leon/Brian McNamara/Zoya Raynes

Thank you!!!

Adrianne
x57302


Artie-- very humorous, although no mention was made of the teasippers from
Austin.

Kevin

-----Original Message-----
From: Art Kretz [mailto:akretz@glasgowmedicalcenter.com]
Sent: Friday, September 21, 2001 5:34 AM
To: SMU Betas
Subject: [smu-betas] Fw: For college football fans

A bit of levity during these trying times..... my apologies to all you Big
12 fans in Okie-land ..... -kai- bros.    Artie

----- Original Message -----
From: "WAYNE GARRAWAY" <WSGARRAWAY@prodigy.net>
To: <Undisclosed-Recipient:@pimout4-int.prodigy.net;>
Sent: Friday, September 21, 2001 8:15 AM
Subject: Fw: For college football fans

>
> ----- Original Message -----
> From: <REllis9747@aol.com>
> To: <ron.ellis@abnamro.com>
> Cc: <WSGARRAWAY@prodigy.net>; <JJPSU93@aol.com>; <Caymus007@cs.com>
> Sent: Friday, August 31, 2001 10:14 AM
> Subject: Fwd: For college football fans
>
>
> >
> >
>

At Homecoming 2000, the BETA TENT had the biggest crowd by far.  Stay
connected and consider a future homecoming BETA reunion.  It's
incredible...forget the 20 years in between...everyone just seems to pick it
up right where they left off years ago.

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/

------------------------ Yahoo! Groups Sponsor ---------------------~-->
Get your FREE credit report with a FREE CreditCheck
Monitoring Service trial
http://us.click.yahoo.com/MDsVHB/bQ8CAA/ySSFAA/Vk9qlB/TM
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At Homecoming 2000, the BETA TENT had the biggest crowd by far.  Stay connected and consider a future homecoming BETA reunion.  It's incredible...forget the 20 years in between...everyone just seems to pick it up right where they left off years ago.

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/


-----Original Message-----
From: 	"Eva Pao" <epao@mba2002.hbs.edu>@ENRON [mailto:IMCEANOTES-+22Eva+20Pao+22+20+3Cepao+40mba2002+2Ehbs+2Eedu+3E+40ENRON@ENRON.com]
Sent:	Wednesday, May 23, 2001 11:58 PM
To:	jarnold@enron.com
Subject:	FW: Follow up on the Chung Guy

>  -----Original Message-----
> From: 	Anand R. Radhakrishnan
> [mailto:aradhakrishnan@mba2002.hbs.edu]
> Sent:	Tuesday, May 22, 2001 7:07 PM
> To:	gkoundinya@hotmail.com; Donald Edward Lacey; Eva Pao; Catherine
> Olson; Eileen Shy; David Hayes; Matt Crossland; Kim Scott; Heidi von
> Allmen
> Cc:	Mike Stanton; ewong@thecarlylegroup.com
> Subject:	Follow up on the Chung Guy
>
> So, this story is now officially everywhere.  New York Times, Washington
> Post, NY Post, Bloomberg, etc...
>
> Anand
>
> The Carlyle Group's Scarlet Letter
>
> By Lloyd Grove
> Washington Post Staff Writer
> Tuesday, May 22, 2001; Page C03
>
>
> The Carlyle Group, the Washington-based global investment firm, boasts an
> enviable roster of world-class financiers, including former defense
> secretary Frank Carlucci, former secretary of state James Baker, former
> budget director Richard Darman and former British prime minister John
> Major.
> But as of last Friday, it no longer enjoys the services of junior analyst
> Peter Chung, whose international fame is starting to rival that of his
> elders and betters.
>
> The Post's Carrie Johnson reports that the 24-year-old Chung -- a 1999
> economics graduate of Princeton University who had worked for Merrill
> Lynch
> in New York before joining Carlyle -- was ordered to resign from his job
> in
> the firm's Seoul office after he sent a shockingly vulgar e-mail detailing
> his sexual ambitions in South Korea. After it was sent last Tuesday,
> Chung's
> e-mail proliferated all over the Internet (headlining the online industry
> newsletter PrivateEquityCentral.net) and made the grayly eminent Carlyle
> Group blush deep crimson.
>
> "So I've been in Korea for about a week and a half now and what can I say,
> LIFE IS GOOD," Chung e-mailed a dozen friends. "I've got a spanking brand
> new 2000 sq. foot 3 bedroom apt. . . . Why do I need 3 bedrooms? Good
> question. . . . the main bedroom is for my queen size bed . . . where
> CHUNG
> is going to [bleep] every hot chick in Korea over the next 2 years (5
> down,
> 1,000,000,000 left to go). . . . the second bedroom is for my harem of
> chickies, and the third bedroom is for all of you [bleepers] when you come
> out to visit my [butt] in Korea. . . . CHUNG is KING of his domain here in
> Seoul."
>
> Last Thursday, when Chung's e-mail found its way back to headquarters, the
> ax fell quickly. Carlyle Managing Director David Rubenstein told The
> Post's
> Johnson: "I can confirm on the record that he's no longer an employee."
> Chung's former colleagues remained puzzled yesterday by his message. A
> Carlyle source told Johnson: "He'd only been here five days. Ask Merrill
> Lynch if he did anything like this."
>
> Merrill Lynch spokesman Joe Cohen told us: "We have no comment on any
> statements made or activities taken after Mr. Chung left Merrill Lynch."
> But
> Cohen confirmed that Chung was a summer intern in 1997 and 1998 and then a
> full-time employee in New York from July 1999 to April 2001. Our calls to
> Chung were not returned yesterday. His younger brother, Patrick, told us:
> "We have no comment at this time. . . . He's still in Seoul."
>
>
>
> May 22, 2001 (New York Times)
> An E-Mail Boast to Friends Puts Executive Out of Work
> By ANDREW ROSS SORKIN
>
> Hold on. Do not press send.
>
> A young click-happy financial executive is wishing that he had never
> touched
> his computer's left mouse button last Tuesday.
>
> Paul Chung, a recently hired associate at the Carlyle Group in its office
> in
> Seoul, South Korea, was forced to resign on Friday after boasting about
> his
> sexual exploits and lavish lifestyle in an e-mail message to 11 buddies at
> Merrill Lynch in New York, where he used to work.
>
> Unfortunately for Mr. Chung, a 24- year-old Princeton graduate who had
> moved
> to Seoul three days earlier to start his job, the message was forwarded or
> passed on to thousands of people on Wall Street and wound up being sent to
> his bosses at Carlyle, the private equity firm.
>
> Mr. Chung was given the option of resigning or being dismissed, a Carlyle
> executive said.
>
> The message, which was retitled "Amazing Cautionary Tale" by a banking
> analyst, meandered in and out of e-mail boxes around the world.
>
> "I know I was a stud in N.Y.C., but I pretty much get about, on average,
> 5-8
> phone numbers a night and at least 3 hot chicks that say that they want to
> go home with me every night I go out. I love the buy side," Mr. Chung
> wrote
> in the message using the company's network. He bragged about his "spanking
> brand new 2000 sq. foot, three bedroom apt. with a 200 sq. foot terrace."
> He
> bragged that he used one bedroom for his "harem" and another for other
> sexual exploits.
>
> Mr. Chung also boasted about his job. "I have bankers calling me every day
> with opportunities," he wrote, "and they pretty much cater to my every
> whim
> - you know (golfing events, lavish dinners, a night out clubbing)."
>
> Reached by telephone in Seoul, Mr. Chung said: "It's devastating. I really
> can't comment. Sorry."
>
> Mr. Chung is the latest in a string of employees to lose their jobs or be
> publicly embarrassed by a sexually explicit e-mail message that was
> forwarded to others. In a much publicized e-mail message last year that
> made
> its way to hundreds of thousands of in-boxes, an employee of a British
> Internet provider wrote to her boyfriend about a sex act. Employees of
> many
> different companies that passed the message along to friends were
> dismissed.
>
>
> David M. Rubenstein, a founder and managing director of the Carlyle Group,
> had no comment. The Carlyle Group is known for its investments in military
> companies and its prominent list of advisers, including Arthur Levitt, the
> former chairman of the Securities and Exchange Commission, and James A.
> Baker III, the former secretary of state.
>
> One analyst that passed along the message to his investment banking
> colleagues attached this prophetic message: "Rule No. 1 we learned in I.B.
> training: If you don't want it published in the NYT, don't write it."
>
>
> Date: Mon, 21 May 2001 14:47:08 -0400
>
> Carlyle Fires Associate After E-mail Sex Boast, Web Site Says
> 2001-05-21 13:36 (New York)
>
> Washington, May 21 (Bloomberg) -- The Carlyle Group Inc. told a recently
> hired associate in South Korea to resign after he boasted of sexual
> exploits
> in an e-mail that was sent to investment banks worldwide, according to
> PrivateEquityCentral.net, an industry Internet news service.
>
> Peter Chung, working in Carlyle's Seoul office, boasted that he needed a
> three-bedroom apartment because he needed one bedroom to house his ``harem
> of
> chickies'' and the other to house his visiting friends, according to the
> e-mail.  Chung, who resigned Friday, wrote that he was going to sleep with
>
> ``every hot chick in Korea over the next 2 years (5 down, 1,000,000,000
> left
> to go).'' Chung sent the message May 15 to 11 friends via the Carlyle
> e-mail
> system, according to PrivateEquityCentral.net.
>
> Carlyle founding partners Bill Conway and David Rubenstein couldn't
> immediately be reached to comment on the Internet report. The
> private-equity
> firm, with more than $13 billion under management, has one of its largest
> investments in Korea, where it spent about $300 million to buy a stake in
> KorAm Bank, the country's eighth-largest commercial lender.  Carlyle,
> whose
> owners include the California Public Employees' Retirement System, counts
> former President George Bush and former Prime Minister John Major of Great
>
> Britain among its advisers.
>
> Chung asked that condoms be sent by Federal Express because he was running
>
> out and that he goes out to Korea's finest clubs, every other week night
> and
> both weekend nights -- much of it paid for by the investment banks seeking
>
> advisory fees from Carlyle.
>
> ``I think in about 2 months, after I learn a little bit of the buyside
> business I'll probably go out every night on the weekdays,'' Chung's
> e-mail
> said.
>
> Carlyle Contacts
>
> Washington, D.C.-based Carlyle has zoomed to prominence partly through its
>
> contacts. At its annual meeting in September, speakers included General
> Electric Co. Chairman John Welch, AOL Times Warner Inc. Chairman Steve
> Case
> and Citigroup Inc. Chairman Sanford I. Weill.  Among Carlyle advisers are
> Arthur Levitt, former chairman of the Securities and Exchange Commission,
> former Secretary of State James Baker and former Philippine President
> Fidel
> Ramos. The Chairman Frank Carlucci is a former U.S. defense secretary.
>
> Last year's investments included an airplane parts factory complex bought
> from Northrop Grumman Corp. for $1.2 billion and a plastic laminate maker,
>
> Panolam Industries Holding Inc., for $402 million.
>
> --Mark Pittman in the New York newsroom (212) 893-3767 or e-mail at
> MPittman@Bloomberg.net/jk/jdh/bw
>
> CARLYLE'S E-MAIL STUD BYTES THE DUST
>
> By ERICA COPULSKY - NY POST
> --------------------------------------------------------------------------
> --
> ----
>
> May 22, 2001 -- Subject: The Story (Gone Awry) of a Private Equity "Stud"
> Another Wall Streeter apparently fell victim to the perils of the Digital
> Age last week, when an associate from prominent Washington, D.C.,
> investment
> firm Carlyle Group reportedly was forced to resign after a risqu? e-mail
> he
> sent to friends became a chain letter among investment banks around the
> world.
>
> The incident began innocently enough when a Peter Chung, who represented
> himself to be a junior staffer in Carlyle's Seoul office, sent an e-mail
> to
> 11 friends boasting of the lavish lifestyle and sexual exploits he is
> enjoying in his new buy-side position.
>
> In a May 15 e-mail, obtained by The Post, "Living Like A King," "Chung"
> brags in lewd detail about how he gets "on average, 5-8 phone numbers a
> night" and how "at least 3 hot chicks that want to go home" with him every
> time he goes out.
>
> He goes on, saying he loves the buy-side because "bankers pretty much
> cater
> to my every whim - you know (golfing events, lavish dinners, a night out
> clubbing)."
>
> He concludes the e-mail by asking his friends to send him condoms by FedEx
> because he was running out of them.
>
> The executive was forced to resign from Carlyle Friday, less than two
> weeks
> after his hiring, according to 'Net news service PrivateEquityCentral.net.
>
>
> Carlyle partner David Rubenstein did not return repeated phone messages.
> "Chung" could not be reached. However, in a May 17 e-mail purportedly sent
> by him to a friend, he denied writing the e-mail that sparked the
> controversy.
>
> That e-mail quickly circulated to hundreds of eager readers, who in some
> cases added their own mocking commentaries. One reader called the e-mail
> "kind of a 'pimpin' aint easy' version of the Uberconsumer from several
> years back." Another marked it as "a lesson of why one should never put
> anything in print . . ."
>
> The most biting satire, entitled "The True Story of a Private Equity
> Stud,"
> urged recipients of the e-mail to contact former Secretary of State James
> Baker, a senior counselor at Carlyle.
>
>
> Carlyle Associate Resigns Following Raunchy E-Mail Incident
> By David Snow
> May 21, 2001
>
> A junior professional in The Carlyle Group's Seoul office was forced to
> resign Friday after a raunchy e-mail he sent to friends was forwarded to
> thousands of people around the world.
>
> The junior professional, an associate, sent the message on May 15 to 11
> friends via his Carlyle e-mail account. In the message, the associate
> expressed excitement about his new position with the Washington,
> D.C.-based
> private equity giant. But the associate mostly described, in bawdy detail,
>
> the lavish lifestyle and various sexual conquests he enjoyed as a young
> "buyside" professional.
>
> The e-mail made its way to thousands of financial professionals and others
>
> around the world and two days later made it to top partners at The Carlyle
>
> Group, according to a source familiar with the situation. Carlyle
> executives
> found the e-mail "totally inappropriate," the source said, and were
> particularly concerned about the mocking commentary that accompanied the
> message as it was sent from person to person. One lengthy commentary
> described private equity professionals as "arrogant" and "profiting from
> the
> hoarding of capital," and satirically urged recipients of the forwarded
> message to contact Carlyle senior counselor James Baker. "The e-mail
> highlighted the firm in a very negative way, and it was taken very
> seriously," the source said.
>
> The associate resigned last Friday after having been employed by Carlyle
> for
> less than two weeks.  The Carlyle incident is similar to the "Brad and
> Claire" incident that originated in London late last year, in which an
> employee of law firm Norton Rose forwarded to friends an explicit e-mail
> from
> his lover. The message was forwarded to an estimated 10 million people and
>
> eventually made it to the front pages of the British tabloids. The Norton
> Rose employee was subsequently disciplined but not fired.
>
> In his e-mail, the Carlyle associate bragged about having investment
> bankers
> "cater to my every whim - you know (golfing events, lavish dinners, a
> night
> out clubbing)." He said his goal was to sleep with "every hot chick in
> Korea."
>
> Carlyle's Seoul office, responsible for leading Carlyle's $300 million
> investment in KorAm Bank of South Korea last year - its largest deal ever
> is
> headed by managing director Michael Kim.
> Copyright (c)2001, PrivateEquityCentral.net
> PrivateEquityCentral.net is a division of Links Securities LLC
>
>
> Anand Radhakrishnan
> Harvard Business School - Class of 2002
> 14 Trowbridge Street #1
> Cambridge, MA  02138-5307
> home: (617) 491-0525  mobile: (617) 899-0026
> aradhakrishnan@mba2002.hbs.edu
>

 - winmail.dat


It just upsets me so!

-----Original Message-----
From: Mann, Kay
Sent: Thursday, December 27, 2001 9:54 AM
To: Adams, Suzanne
Subject: RE: FW: Thursday

How completely horrible.
--------------------------
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