Most Powerful Women in Business: The Power Fifty - Louise Kitchen No. 17
Fortune, 10/15/01
Drop in Natural-Gas Prices May Be Good For Consumers but Hinder New Production
The Wall Street Journal, 10/02/01
Enron leases part of Mumbai estate to Citibank
Business Standard, 10/02/01
Carly Fiorina Tops FORTUNE's List of 50 Most Powerful Women in Business for Fourth Year
Business Wire, 10/01/01

Most Powerful Women in Business: The Power Fifty - Louise Kitchen No. 17
Fortune, 10/15/01
http://www.fortune.com/indexw.jhtml?channel=list.jhtml&list_frag=survey_results.jhtml&person_id=222001017&_DARGS=%2Ffragments%2Flist%2Flist_5columns_powerwomen.jhtml_A&_DAV=list.jhtml

Drop in Natural-Gas Prices May Be Good For Consumers but Hinder New Production
By Alexei Barrionuevo
Staff Reporter of The Wall Street Journal

10/02/2001
The Wall Street Journal
C7
(Copyright (c) 2001, Dow Jones & Company, Inc.)

In the wake of last month's terrorist attacks, natural-gas prices have slid below $2 per million British thermal units, frustrating any hopes that prices will rebound this year to levels that would encourage more investment in natural-gas projects.
Analysts predict that with prices at current levels, projects to bring more liquefied natural gas into the U.S. could be shelved or canceled.
Natural-gas prices, which reached highs of nearly $10 per million BTUs last December, had held to around $3 to $5 per million BTUs for much of the year. At $2 per million BTUs and below, producers have a hard time justifying exploration and new production.
Analysts blamed the drop on weak industrial demand, fueled by the struggling chemicals and metals industries and by weaker electric-utility demand. Nearby November futures fell 36 cents yesterday to $2.208 on the New York Mercantile Exchange.
In the Boston area, however, different concerns could lead to higher prices for that region. Last week, the U.S. Coast Guard, under pressure from local lawmakers, indefinitely banned LNG tankers from entering Boston Harbor. LNG makes up 15% of New England's gas supply and nearly half of its supply on very cold days. The Coast Guard and Department of Transportation are studying concerns that a LNG tanker could become a bomb for terrorists.
Already, relative to other areas, natural-gas prices have inched higher in New England, where natural-gas pipeline constraints have long hampered the market. The spread between prices in New England and the Gulf Coast widened last week by 30 cents to $1.30 per million BTUs, said a spokeswoman for Distrigas, a unit of Belgium's Tractebel SA. But the lack of LNG isn't likely to become a big issue until winter hits and natural-gas storage is used up.
Richard Grant, CEO of Distrigas, says LNG has a 30-year safety record at the company's Everett, Mass., terminal. While LNG is flammable, he says it is unlikely to explode. He adds that "there are a lot of things being said right now that are just not factual. But until we answer the concerns, we won't be able to bring a ship in here."
Deutsche Banc Alex. Brown was among several brokerage firms downgrading fourth-quarter projections for natural-gas prices last week. "Prior to Sept. 11, we were seeing signs that a lot of industrial demand was coming back," said Jay Saunders, a Deutsche Banc analyst. "But all that is out the window now." Deutsche Banc is now estimating a 20% drop in winter demand in the industrial sector, which accounts for more than a quarter of total U.S. natural-gas consumption. The slack demand has resulted in supplies that have practically overflowed storage, which is on pace to be full by the end of October.
While prices that are close to historical levels are good for consumers, such low prices could scare many producers away from making investments to ensure future natural-gas demand is met. Lower prices have already led energy companies to slow their drilling and some firms, such as EOG Resources Inc., plan to moderate production in the next two months. Gas drilling-rig counts fell to 953 last week from 1,030 at the end of August.
Even with the increased natural-gas drilling of earlier this year, overall natural-gas supply is expected to increase just 1% this year, as the country's mature wells continue to be depleted faster than companies can replace them. The tight supply picture has analysts optimistic that prices will rebound next year amid lower interest rates, increased defense and relief spending and returning consumer confidence.
Still, the downturn could cause some firms to rethink or postpone projects to import gas in a liquid form. With prices high last winter, El Paso Corp. and Enron Corp., among others, said they would build a dozen or so receiving terminals for liquefied natural gas, which is gas compressed and frozen to minus-260 degrees Fahrenheit. "You will see some cancellations and some delays," predicts Marshall Adkins, an analyst with Raymond James & Associates in Houston.
Natural-gas prices need to average $3 per million BTUs on the East Coast and $3.50 on the West Coast to justify bringing in LNG to those areas, said Ronald Barone, an analyst with UBS Warburg.
A spokeswoman for El Paso, Houston, says the company is moving forward with at least three terminals for the U.S. market. Enron said it is also pushing ahead with a terminal in the Bahamas that would pipe the gas to Florida starting in 2004.

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

Enron leases part of Mumbai estate to Citibank
Freny Patel MUMBAI

10/02/2001
Business Standard
5
Copyright (c) Business Standard

After months of scouting for a buyer for its one lakh square feet office space at Wockhardt Towers in Bandra-Kurla Complex, Enron has been able lease out 10,000 square feet of it to Citibank NA.
Against an expected realisation from Rs 130 crore for the outright sale of its four floors, Enron will get around Rs 1.2 crore a year by leasing out one floor to Citibank.
The deal was struck recently by the global real estate consultant, Cushman & Wakefield, at a monthly rental of Rs 100 per square foot.
With property prices in Mumbai having slumped and with no reprieve expected in the
short run, companies are increasingly opting to lease space instead of blocking funds in illiquid assets.
Property consultants say that if Enron manages to lease out the entire four floors, it will be easier for it to sell the property to a buyer, as the buyer would be assured of a fixed income.
Enron had eyed a deal of Rs 130 crore when it mandated global real estate consultants to sell the premises at around Rs 12,000 per square foot.
This is despite the fact that real estate at Bandra Kurla currently fetches Rs 8,000 to Rs 9,000 per square feet. In June 2000, the US energy giant had shelled out Rs 125.75 crore when it acquired the four floors, plus car park space, from Wockhardt, the pharmaceutical company.
The deal was struck at Rs 10,500 per sq ft, and included parking space for 101 cars.
Industry sources said that Enron had spent a sum close to Rs 150 crore to acquire the property, and pay for the interior furnishings of two of the four floors it had acquired.
In order for it to break even, it would have had to sell its real estate at the rate of Rs 13,000 per square foot.
Four to five global real estate consultants have been appointed by Enron for the sale of its premises. A leading consultant said that it has been difficult to find any buyers for such a large property.
"Most international buyers prefer to take property on lease instead of an outright purchase," he added.
Moreover, the inefficiency of the building in terms of the super built-up area is another reason why corporate entities are not too eager to acquire the premises, and Enron's proposition continues to go abegging, said the consultant.

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

Carly Fiorina Tops FORTUNE's List of 50 Most Powerful Women in Business for Fourth Year

10/01/2001
Business Wire
(Copyright (c) 2001, Business Wire)

NEW YORK--(BUSINESS WIRE)--Oct. 1, 2001--

Lower-Profile Women Topple More Well-known Names From Tech and
Internet Sector; Ranking Includes 14 Newcomers

Though Hewlett-Packard lost $65 billion in market value in a year, CEO Carly Fiorina hasn't lost her nerve, and for the fourth consecutive year holds the No. 1 position on FORTUNE's ranking of the 50 Most Powerful Women in Business.
The complete list and accompanying stories are in the October 15 issue of FORTUNE, available on newsstands October 8 and at www.fortune.com at 12:00 p.m. on October 1.
In the No. 2 spot is eBay CEO Meg Whitman, who runs an Internet company that actually makes money: $85 million in the last four quarters on $582 million in revenue. Oprah Winfrey, the Queen of Media, is mightier than ever, and holds the No. 3 spot, up from No. 15 last year. She produces movies, brings comfort and advice to millions of TV viewers, propels books to bestsellerdom, and, last year, teamed up with Hearst Magazines' Cathie Black (No. 28 on the list) to publish O, The Oprah Magazine-by some measures the most successful magazine startup ever. At No. 4 is Andrea Jung, Chairman and CEO of Avon, who has breathed life into ailing Avon. Mirant CEO Marce Fuller-the only newcomer in the top five-holds the No. 5 position. Inside a stodgy utility, Southern, Fuller built a high-growth trading and marketing unit, which was spun off in April.
In these new, more tempered times, patience may be about to reap its reward. In FORTUNE's annual survey of the 50 Most Powerful Women in Business, there is a clear emergence of women who came to power slowly. Says FORTUNE senior writer Pattie Sellers in "Patient But Not Passive," the story that accompanies the list, "By patience, we mean staying with a company, steadily building influence there, and rising to power through determination and insider knowledge, not promises and self-promotion."
Fiorina, who has claimed the top spot each year since FORTUNE's inaugural list in 1998, heads the biggest company ($48 billion in revenues last year) run by a woman. And she is still as audacious and impatient as ever. Wall Street practically heckled her latest move-a bold bet to buy Compaq-but Fiorina, 47, remains defiant. In difficult times, "people who drive change are the subject of great scrutiny," she says.
As always, the list is a snapshot of power at a moment in time. Last year, power resided in the technology and Internet sectors, but that influence was fleeting. Gone from the list this year: Deborah "Hurricane Debby" Hopkins, who pushed her agenda too ambitiously at Lucent and lost her CFO job in May; Ellen Hancock, who failed at the startup, Exodus; and Morgan Stanley's Mary Meeker, who influenced so many to buy into the Internet fizz. But one Web warrior looks better than ever: Meg Whitman, No. 2 on the list. She has never overpromised to investors; instead she has diligently delivered above-target profits every single quarter.
Fourteen newcomers join the list this year: Marce Fuller, President & CEO, Mirant; Louise Kitchen, COO, Enron Americas; Colleen Barrett, President & COO, Southwest Airlines; Betsy Bernard, President & CEO, AT&T Consumer; Anne Stevens, VP, North America Vehicle Operations, Ford Motor; Maria Elena Lagomasino, Chairman & CEO, J. P. Morgan Private Bank; Susan Desmond-Hellman, EVP and Chief Medical Officer, Genentech; Janet Robinson, SVP, Newspaper Operations, New York Times Co.; Carol Tomi, EVP and CFO, Home Depot; Carrie Cox, EVP and President, Global Prescriptions, Pharmacia; Carole Black, President and CEO, Lifetime Television Networks; Janet Davidson, Group President, Integrated Network Solutions, Lucent; Larree Renda, EVP, Retail Operations, Safeway; and Louise Francesconi, VP and GM, Missile Systems, Raytheon.
While the economy and its points of power change, the criteria we use to evaluate power remains the same. Says Sellers: "We consider the size and importance of a woman's business in the global economy, her clout inside her company, and the arc of her career-where she has been and where she is likely to go. When appropriate, we also weigh the woman's influence on mass culture and society. That factor lifts Oprah Winfrey to No. 3 on this year's list." The shifts on our list this year are dramatic, with 14 newcomers. But one trend is especially intriguing: Women are taking on bigger businesses than ever. A few years ago, responsibility for a $3 billion business almost automatically earned a woman a spot on this list. No more. This year's FORTUNE 50 includes several women who lead businesses with annual revenues of $20 billion or more, which is a first.
In a related story, "It Took a Lady To Save Avon," Katrina Brooker looks at Andrea Jung, Chairman and CEO of Avon. Says Brooker, "Jung knows what women want and how to sell it to them. And that's what has made her one of the most successful CEOs-male or female-in recent years." Over the past 20 months she has overhauled nearly everything about the way Avon does business: how it advertises, manufactures, packages, and even sells its products, and she has done it not by abandoning the seemingly outdated Avon Lady, but by reviving her. The result: growth in revenues, operating profits, and operating margins.
In addition, FORTUNE includes an international list of the 50 powerful women in business. The top ten, featured in the magazine, are Marjorie Scardino, CEO, Pearson (Britain); Anne Lauvergeon, Chairman, Areva (France); Mary Ma, Senior VP & CFO, Legend (Hong Kong); Marianne Nivert, President & CEO, Telia (Sweden); Lien Siaou-Sze, Vice President, Hewlett-Packard (Hong Kong); Patricia Barbizet, CEO, Artemis (France); Eiko Kono, President, Recruit (Japan): Belinda Stronach, CEO, Magna International (Canada); Marina Berlusconi, Vice Chairman, Fininvest (Italy); Christine Tsung, President & CEO, China Airlines (Taiwan). You can read about the other forty at www.fortune.com or in the international editions of FORTUNE.
2001 FORTUNE 50 Most Powerful Women in American Business

2001 2000
Rank Rank Name Title Company
1 1 Carly Fiorina Chairman and CEO Hewlett-Packard
2 3 Meg Whitman President and CEO eBay
3 15 Oprah Winfrey Chairman Harpo
Entertainment
4 10 Andrea Jung Chairman and CEO Avon
5 new Marce Fuller President and CEO Mirant
6 18 Anne Mulcahy President and CEO Xerox
7 14 Karen Katen EVP and President
Pharmaceutical Group Pfizer
8 39 Pat Woertz President, Chevron Products Chevron
9 23 Betsy Holden Co-CEO Kraft Foods
10 43 Indra Nooyi President and CFO PepsiCo
11 7 Shelly Lazarus Chairman and CEO Ogilvy & Mather
Worldwide
12 50 Abigail Johnson President Fidelity
Management and
Research
13 9 Martha Stewart Chairman and CEO Martha Stewart
Living OmniMedia
14 12 Patricia Dunn Global CEO Barclays Global
Investors
15 16 Judy McGrath Chairman and CEO, MTV Group Viacom
16 17 Sherry Lansing Chairman, Motion Picture
Group, Paramont Viacom
17 new Louise Kitchen COO Enron Americas
18 19 Lois Juliber COO Colgate-Palmolive
19 18 Marilyn Carlson
Nelson Chairman and CEO Carlson Companies
20 new Colleen Barrett President and COO Southwest
Airlines
21 21 Ann Moore EVP, Time Inc. AOL Time Warner
22 22 Judy Lewent EVP and CFO Merck
23 new Betsy Bernard President and CFO AT&T Consumer
24 31 Stacey Snider Chairman, Universal Pictures Vivendi
Universal
25 30 Dina Dublon EVP and CFO J.P. Morgan Chase
26 10 Pat Russo President and COO Eastman Kodak
27 new Anne Stevens VP, North American Vehicle
Operations Ford Motor
28 11 Ann Livermore President, HP Services Hewlett-Packard
29 28 Cathleen Black President Hearst Magazines
30 24 Linda Sanford SVP and Group Executive,
Storage Systems IBM

31 33 Amy Brinkley Chairman, Credit Policy Bank of America
32 4 Donna Dubinsky CEO Handspring
33 38 Marjorie Magner Senior EVP, Consumer Group Citigroup
34 13 Nancy Peretsman EVP and Managing Director Allen & Co.
35 25 Dawn Lepore Vice-Chair, EVP, and CIO Charles Schwab
36 27 Gail McGovern President, Fidelity Personal
Investments Fidelity
37 new Maria Elena
Lagomasino Chairman and CEO J.P Morgan
Chase Private
Bank
38 new Susan
Desmond-Hellman EVP and Chief Medical Officer Genentech
39 new Janet Robinson SVP, Newspaper Operations New York
Times Co.
40 new Carol Tome EVP and CFO Home Depot
41 46 Jamie Gorelick Vice-Chair Fannie Mae
42 45 Vivian Banta EVP and CEO, U.S. Consumer Prudential
43 new Carrie Cox EVP and President, Global
Prescriptions Pharmacia
44 47 Anne Sweeney President, ABC Cable Networks
Group Disney

45 new Carole Black President and CEO Lifetime
Television
Networks
46 44 Marion Sandler Co-Chairman and Co-CEO Golden West
Financial
47 new Janet Davidson Group President, Integrated
Network Lucent
Solutions
48 new Larree Renda EVP, Retail Operations Safeway
49 new Louise
Francesconi VP and GM, Missile Systems Raytheon
50 8 Abby Joseph
Cohen Chief Market Strategist Goldman Sachs

FORTUNE's International 50 Most Powerful Women

Rank Women Title Company Country
1 Marjorie Scardino CEO Pearson Britain
2 Anne Lauvergeon Chairman Areva France
3 Mary Ma Senior VP and CFO Legend Hong Kong
4 Marianne Nivert President and CEO Telia Sweden
5 Lien Siaou-Sze Vice President Hewlett-Packard Hong Kong
6 Patricia Barbizet CEO Artimis France
7 Eiko Kono President Recruit Japan
8 Belinda Stronach CEO Magna International Canada
9 Marina Berlusconi Vice Chairman Fininvest Italy
10 Christine Tsung President and CEO China Airlines Taiwan
11 Maureen Kempston
Darkes President GM Canada Canada
12 Mary Minnick President and COO Coca Cola Asia U.S.
13 Nita Ing Chairman Taiwan High-Speed
Railway Taiwan
14 Barbara Kux Executive Director Ford Europe Germany
15 Ho Ching Chairman Singapore
Technologies Singapore
16 Sari Baldauf President Nokia Networks Finland
17 Judy Boynton CFO Royal Dutch/Shell
Group Britain
18 Maria Silvia
Marques Bastos CEO Companhia
Siderurgica
Nacional Brazil
19 Clara Furse CEO London Stock
Exchange Britain
20 Linda Cook CEO Shell Gas & Power Britain
21 Val Gooding CEO BUPA Britain
22 Agnes Touraine Vice Chairman and
CEO Vivendi Universal
Publishing France
23 Margaret Jackson Chair Qantas Australia
24 Kathleen Bader President Dow Styrenics &
Engineered
Prod. Switzerland
25 Kathleen O'Donovan CFO Invensys Britain
26 Wanda Rapaczynksi President Agora Poland
27 Juliet Wu Shihong Executive Director TCL Holdings China
28 Vivienne Cox Group Vice
President BP Britain
29 Marma Asuncisn
Arambruzabala
Larregui Vice Chairman Grupo Modelo Mexico
30 Yoshiko Shinohara President TempStaff Japan
31 Lalita Gupte Managing Dir.
and COO ICICI India
32 Sawako Noma President Kodansha Japan
33 Imre Barmanbek CEO Dogan Group Turkey
34 Nina Wang Chair Chinachem Hong Kong
35 Li Yifei General Manager MTV China China
36 Gail Cook-Bennett Chairperson Canada Pension
Plan Inv. Bd. Canada
37 Marluce Dias da
Silva Director General Rede Globo Brazil
38 Anna Cheng
Catalano Group Vice
President BP Britain
39 Rose Marie Bravo CEO Burberry Britain
40 Britta Steilmann CEO Steilmann Group Germany
41 Galia Maor President and CEO Bank Leumi Israel
42 Magda Salarich Managing Director Citrokn Spain Spain
43 Marjorie Yang Chairman Esquel Group Hong Kong
44 Teresita Sy President SM Philippines
45 Dominique Heriard
Dubreuil Chair and CEO Remy Cointreau France
46 Gianna
Angelopoulos-
Daskalaki President Athens Olympic
Committee Greece
47 Naina Lal Kidwai Vice Chairman J.P. Morgan Stanley India
48 Barbara Cassani CEO Go Britain
49 Irene Charnley Commercial
Director M-Cell South
Africa
50 Katijah Ahmad Chair and CEO KAF Discounts Malaysia

CONTACT: For FORTUNE Terry McDevitt, 212/522-4788 terry_mcdevitt@timeinc.com Carrie Welch, 212/522-6724 carrie_welch@timeinc.com Caroline Plauche, 212/522-2134 caroline_plauche@timeinc.com
12:24 EDT OCTOBER 1, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Debra,

Can work with Lachon on the GISB?

Thanks,
Judy

 -----Original Message-----
From:  lellman@eqt.com@ENRON
[mailto:IMCEANOTES-lellman+40eqt+2Ecom+40ENRON@ENRON.com]
Sent: Wednesday, June 06, 2001 3:30 PM
To: Thorne, Judy
Subject: FW: GISB

Judy:

EE prefers a neutral state for choice of law...NY law. You will see some
changes marked to the special provisions. Please review & reply.  Please
make any additional comments, if necessary.  Attached, you will find EE's
special provisions.

If you have any questions, please feel free to contact myself at
412-395-2623 or via e-mail.

Thanks,
Lachon R. Ellman

-----Original Message-----
From: Ellman, Lachon R.
Sent: Tuesday, June 05, 2001 10:28 AM
To: Reich, Henry
Subject: FW: GISB

Henry:

Will you review the special provisions?  I've already noted the State Choice
of Law...Texas, which I will propose a neutral state.

If you have any questions, please let me know.

Thanks,
Lachon

-----Original Message-----
From: Thorne, Judy [mailto:Judy.Thorne@enron.com]
Sent: Wednesday, May 30, 2001 9:48 AM
To: lellman@eqt.com
Cc: Perlingiere, Debra; Thorne, Judy
Subject: GISB

Lachon,

Per our conversation,  I am forwarding for your review the attached
sample of Enron Upstream Company, LLC's GISB.   Please do not hesitate
to give me a call with any questions you may have regarding the
enclosed.

 <<Equitable Energy (GISB ENA Upstream).doc>>

Thanks,
Judy Thorne
ENA Upstream Company, LLC

 - Equitable Energy (GISB ENA Upstream).doc
 - SPECIAL PROVISIONS.doc


Is it really necessary to change the book names just to avoid confusion?  Who
is confused?  Can't we just inform those who need to know that the Denver
books are simply another desk that rolls up into the West Region?  I don't
want to be difficult, but it will require a great deal of time and effort to
change every deal in the Denver books to a new name.  Let me know what you
think.

DG    3-9573

	From:  Shona Wilson @ ENRON                           03/30/2001 11:55 AM

To: Burton McIntyre/Enron@EnronXGate, Susan D Trevino/HOU/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, Patrick Ryder/NA/Enron@Enron
cc: Mark Whitt/NA/Enron@Enron
Subject: Denver FT and IM books

Is this possible to do easily?

---------------------- Forwarded by Shona Wilson/NA/Enron on 03/30/2001 10:54
AM ---------------------------
From: Mark Whitt on 03/30/2001 10:53 AM
Sent by: Mark Whitt
To: Phillip K Allen/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Jay
Reitmeyer/HOU/ECT@ECT, Paul T Lucci/NA/Enron@Enron, Barry
Tycholiz/NA/Enron@ENRON, Tyrell Harrison/NA/Enron@Enron, Theresa
Staab/Corp/Enron@ENRON, Nicole Cortez/NA/Enron@Enron
cc: Shona Wilson/NA/Enron@Enron

Subject: Denver FT and IM books

As part of the Doorstep project, (internal audit) it has become apparrent
that we should rename the Denver trading books in order to avoid confusion in
regards to who manages the risk in those books.  Since we have completed the
transfer of those books to Houston and Jay is now managing those books I
think it is appropriate to remove Denver from the title so people outside of
the West Group don't think we are trading in Denver.  Of course we will
continue to support Jay in whatever he needs and provide the middle market
and origination coverage to the customers associated with the deals in this
book.

Let me know if anyone has any concerns regarding this and Shona Wilson can
make the name changes if we let her know what name to change it to.

Mark


----- Forwarded by Jeff Dasovich/NA/Enron on 05/31/2001 05:09 PM -----

	Scott Govenar <sgovenar@govadv.com>
	05/31/2001 05:03 PM

		 To: Jeff Dasovich <jdasovic@enron.com>
		 cc:
		 Subject: MIsc.

Jeff,

Regarding your voice mail, here is information on today's Dunn hearing:

While today's hearing is still going on, here is what transpired with
Edward Kahn as of 2:40 p.m..

Kahn went over his previously released SCE sponsored report on
withholding.  He discounted the Mirant sponsored Hogan report as
inconclusive and indicated that he will be releasing a response
shortly.  Kahn indicated that Tim Belden refuted his report at a meeting
in Santa Fe but that Tim would not "predictably" release hard copies of
his report.  Kahn also referenced an Enron document addressing his
report contained in an Enron FERC filing.  Senator Dunn told his staff
to make note of Tim's name and the reports.

Senator Dunn indicated that the committee is now in possession of
confidential ISO documents.

Regarding Pescetti, he called Smutney, Gary Ackerman and I into a
meeting.  Gary did not show up.  Anthony discussed four items he is
considering legislatively:

1) Edison deal minus the assets with a rate cap.  He is concerned that
if SCE goes under the state will implement the PPA through drastic
measures.
2) Establishing a 15 month cost-plus rate cap with one condition, the
state must build 10,000 mw within the 15 months or the cap will be
lifted.
3) Direct access (I told him to talk to Dave Kelley before he does
anything)
4) Expedited Path 15 legislation, perhaps with partial generator
funding.

He expressed interest in real time metering as a means to increase
conservation.  Smutney suggested using part of the PPA money to install
meters for all customers.  I told him Enron used these meters with great
success for the industrials.  Anthony had some concern with reliability
so I told him I would get information.  I'm working with Elizabeth
Linell on this.

He also expressed interest in buy-down so I gave him Enron's plan.

Anthony said he is working alone on these proposals.

Scott


This is super fantastic!!!  See, it all pays off!  I can't wait to talk with
you and find out more about it!  Let me know if you are rolling tonight!


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/23/2000
04:30 PM ---------------------------

"SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM> on 08/23/2000 11:39:11 AM
To: <Judy.Hernandez@enron.com>, <irenepepe@hotmail.com>,
<smanzanales@jw.com>, "A. SUE GONZALES-GUEVARA" <AGUEVARA@LLGM.COM>,
"CATHERINE BROWN" <CLBROWN@LLGM.COM>, "ELIZABETH TRUJILLO"
<ETRUJILL@LLGM.COM>, "JESSICA VEGA" <JVEGA@LLGM.COM>, "VIVIAN FARRELL"
<VFARRELL@LLGM.COM>, <Maria.Soliz@ppfa.org>, <bburrell@tmh.tmc.edu>
cc:
Subject: Fwd: FW: "Erma's Angel

   To the special women friends in my life.  Some of
>>     this you'll understand all too well and other parts you
>>     may not have experienced yet, but I think it's good
>>     advice no matter what point you're at in your life.
>>
>>                 Erma's Angel
>> > > >
>> > > > I would have talked less and
>> > > > listened more.
>> > > >
>> > > > I would have invited friends over to
>> > > > dinner even if the carpet was
>> > > > stained and the sofa faded.
>> > > >
>> > > > I would have eaten the popcorn in
>> > > > the "GOOD" living room and
>> > > > worried much less about the dirt
>> > > > when someone wanted to light a fire
>> > > > in the fireplace.
>> > > >
>> > > > I would have taken the time to
>> > > > listen to my grandfather ramble
>> > > > about his youth.
>> > > >
>> > > > I would never have insisted the car
>> > > > windows be rolled up on a
>> > > > summer day because my hair had just
>> > > > been teased and sprayed.
>> > > >
>> > > > I would have burned the pink candle
>> > > > sculpted like a rose before it
>> > > > melted in storage.
>> > > >
>> > > > I would have sat on the lawn with my
>> > > > children and not worried
>> > > > about grass stains.
>> > > >
>> > > > I would have cried and laughed less
>> > > > while watching television and
>> > > > more while watching life.
>> > > >
>> > > > I would have gone to bed when I was
>> > > > sick instead of pretending the
>> > > > earth would go into a holding
>> > > > pattern if I weren't there for the day.
>> > > >
>> > > > I would never have bought anything
>> > > > just because it was practical,
>> > > > wouldn't show soil or was guaranteed
>> > > > to last a lifetime.
>> > > >
>> > > > Instead of wishing away nine months
>> > > > of pregnancy, I'd have
>> > > > cherished every moment realizing
>> > > > that the wonderment growing inside
>> > > > me was the only chance in life to
>> > > > assist God in a miracle.
>> > > >
>> > > > When my kids kissed me impetuously,
>> > > > I would never have said,
>> > > > "Later.  Now go get washed up for dinner."
>> > > >
>> > > > There would have been more "I love you's"
>> > > > and more "I'm sorry's"
>> > > > ....but mostly, given another shot
>> > > > at life, I would seize every
>> > > > minute.....look at it and really see
>> > > > it ... live it ... and never give it back.
>> > > >
>> > >  > ~~ In honor of women's history month
>> > > > and in memory of Erma Bombeck
>> > > > who lost her fight with cancer.
>> > > > Here is an angel sent to watch over you ...
>> > > >
>> > > >                    * (\ *** /) *
>> > > >                   ** ( \(_)/ ) **
>> > > >                    *  (_/ \_) *
>> > > >                     ** /___\ **
>> > > >
>> > > >           Pass this on to five women that you
>> > > >           want watched over. If you don't
>> > > >           know five women to pass this on to,
>> > > >           one will do just fine.
>> > > >
>>
>>__________________________________________________
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>
>


Here is the final declaration.  Fax signature page to me at 213.624.0643 and
to Al Bedecarre at 415.986.5707, who is helping us with the filing.

Again, mail the original to me.
Thanks Jeff.

 - 0347511_.doc


Shirley,

Please, subscribe.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/05/2001
08:43 AM ---------------------------

"The Power Marketing Association" <pma-marketplace@mgfairfax.rr.com> on
04/04/2001 04:51:16 PM
To:
cc:
Subject: Platts Energy Trader-Special Rate

Dear Energy Professional:

We hope you enjoyed your recent free trial to Platts Energy Trader, which
provides comprehensive daily coverage of both electricity and natural gas
markets, along with such unique features as forward price assessments, spark
spreads and regular outage tables.

Though your trial has ended, you still have a chance to save $500 off the
regular rate of $1,995 by becoming a charter subscriber.

To subscribe, please fill out and return the attached form, or call our sales
department at 877-286-8897 or 212-904-2004; e-mail, info@platts.com. Be sure
to mention the charter rate.

We look forward to hearing from you.

Sincerely,

Richard Schwartz
Marketing Director

 - et040401.pdf


Hi Ken,

Great job today! I was very proud of you.

I was thinking about 15 years ago. Wow! How much you have accomplished.

Please give Linda my love.

Warmly,

Alex


Take a look.  Interesting stuff.  I'd say it further adds to our momentum.
----- Forwarded by Jeff Dasovich/NA/Enron on 05/11/2001 12:03 PM -----

	Scott Govenar <sgovenar@govadv.com>
	05/11/2001 11:49 AM

		 To: Hedy Govenar <hgovenar@govadv.com>, Mike Day <MDay@GMSSR.com>, Bev
Hansen <bhansen@lhom.com>, Jeff Dasovich <jdasovic@enron.com>, Susan J Mara
<smara@enron.com>, Paul Kaufman <paul.kaufman@enron.com>, Michael McDonald
<Michael.McDonald@enron.com>, Sandra McCubbin <Sandra.McCubbin@enron.com>,
Rick Shapiro <rshapiro@enron.com>, Jim Steffes <james.d.steffes@enron.com>,
Alan Comnes <acomnes@enron.com>, Steven Kean <Steven.J.Kean@enron.com>, Karen
Denne <kdenne@enron.com>, "Harry.Kingerski@enron.com"
<Harry.Kingerski@enron.com>, Mike D Smith <msmith1@enron.com>, Leslie Lawner
<Leslie.Lawner@enron.com>, Robert Frank <rfrank@enron.com>, Ken Smith
<ken@kdscommunications.com>, Janel Guerrero <Janel.Guerrero@enron.com>,
Miyung Buster <Miyung.Buster@enron.com>, Jennifer Thome
<Jennifer.Thome@enron.com>, Eric Letke <eletke@enron.com>, Mary Schoen
<Mary.Schoen@enron.com>, David Leboe <David.Leboe@ENRON.com>
		 cc:
		 Subject: Press Conference

Attached, please find a transcript of Governor Davis' press conference
following his meeting with the generators/ marketers.  Governor Davis
released an additional press release in connection with the meeting in
which he concurs with Mirant's explanation about the shut down of their
Pittsburgh plant.

http://www.governor.ca.gov/state/govsite/gov_htmldisplay.jsp?BV_SessionID=@@@@
0095446820.0989599291@@@@&BV_EngineID=jalklhemgmmbemfcfkmchcgi.0&sCatTitle=Pre
ss+Release&sFilePath=/govsite/press_release/2001_05/20010510_Transcript_Meetin
g_with_generators.html&sTitle=TRANSCRIPT+OF+AVAILABILITY+AFTER+GENERATOR+MEETI
NG%09%0aGOVERNOR+GRAY+DAVIS%0aMAY+9,+2001%0a&iOID=14744


Reservation status has changed to CONFIRMED. See attachment.

ASSIGNMENT_REF = 30821
SELLER_CODE = AZPS
SELLER_DUNS = 958982563
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/AZPS/AZPS-AZPS/FOURCORNE345 - PNPKAPS230//
POINT_OF_RECEIPT = FOURCORNE345
POINT_OF_DELIVERY = PNPKAPS230
SOURCE = FOURCORNERS
SINK = PNPK
CAPACITY = 25
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = OFF_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = WHEEL
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 06/16/2002
STOP_TIME = 06/16/2002
CEILING_PRICE = 3.13
OFFER_PRICE = 3.13
BID_PRICE = 3.13
PRICE_UNITS = $/mW
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = CONFIRMED
STATUS_NOTIFICATION = lisa.gang@enron.com
STATUS_COMMENTS =
TIME_QUEUED = 06/14/2002
RESPONSE_TIME_LIMIT =
TIME_OF_LAST_UPDATE = 06/14/2002
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = FOR INFO CALL (503)464-5070
SELLER_NAME = AZPS
SELLER_PHONE = 602.250.1128
SELLER_FAX = 602.250.1155
SELLER_EMAIL = oasisadm@apsc.com
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = bill.rust@enron.com
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0
REASSIGNED_START_TIME =
REASSIGNED_STOP_TIME =


Katy,

Thanks for the list, however, I do not have word perferct and cannot open the document.  Can you convert it to a Word document and re-send?

Sorry for the trouble.

Thanks,

Kim.  :>)

-----Original Message-----
From: Katy Nielson [mailto:KatyN@questar.com]
Sent: Wednesday, March 06, 2002 12:43 PM
To: Watson, Kimberly
Subject: Questar Pipeline Co. Customer Mtg.

Kim--
Attached is a list of our customers who are attending the customer meeting for the second session.


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Brenda Herod is in charge of Energy Operations for EIM and should be included
in the invitation list.  Brent Price fulfills two roles for EGM - CAO and
head of operations, so he is appropriately included covering both fronts.
Also, I had added Bob Hall to the previous Hot List meeting.  He is a VP in
Energy Operations for Enron Americas.  I would like for him to be on the list
for this meeting as well.  He and I will cover for each other on this
Wholesale Deal Meeting.  You may get both of us in attendance on occassion,
but usually it will be one or the other of us to cover operations for EA.
Thanks. --Sally

	Enron North America Corp.

	From:  Michele Beffer @ ENRON                           02/21/2001 12:53 PM

To: Brent A Price/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Kerry
Roper/GPGFIN/Enron@ENRON, Jeffrey E Sommers/ENRON_DEVELOPMENT, Kent
Castleman/NA/Enron, Roger Ondreko/HOU/ECT@ECT, Cris Sherman/HOU/ECT@ECT, Alan
Quaintance/Corp/Enron@ENRON, Stephen H Douglas/HOU/ECT@ECT, Sally
Beck/HOU/ECT@ECT, Mary Cilia/NA/Enron@Enron
cc: Chantelle Villanueva/HOU/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON,
Diane Latson/NA/Enron, Sonnia Reyes/ENRON_DEVELOPMENT, Kim Weldon/Corp/Enron,
Alisha Guerrero/HOU/ECT@ECT, Shelley Grover/Corp/Enron@Enron, Monica
Butler/Corp/Enron@Enron, Patti Thompson/HOU/ECT@ECT, Virginia
Dennard/Corp/Enron@Enron
Subject: Wholesale Deal Meetings

The following is from Mike Patrick:

Wes Colwell's Hot List Meetings have previously been held on Thursdays at
1:30pm and attended by various parties.  This meeting has been replaced by
the Wholesale Deal Meeting to be held at the same time and location.  The
attendees will be comprised of each Wholesale Business Unit's CAO,
Transaction Support lead, Tax lead and Energy Operations management.  The
meeting will be held bi-weekly and will be adjusted as necessary.   Please
note that the first meeting will be held tomorrow, Thursday February 22 at
1:30pm in EB3321.

The purpose of this meeting is :

1) For the CAO/Transaction support lead to summarize the Top 3 deals for the
quarter in each business unit, focusing on any potential issues that might
derail the closing of the deal, and

2) For the Transaction Support team to update the group on any global
accounting issues, and

3) To create/maintain a "Wholesale Critical Deal Sheet" comprised of
Wholesale's Top Ten critical deals

The meeting is not intended to be a business unit administration meeting
(i.e., floor space, SAP, etc.).  I believe Wes still plans to hold a
Wholesale CAO meeting to discuss other non-deal issues.

Following are the dates of the upcoming meetings.  The meetings will be held
from 1:30pm - 2:30pm in EB3321.

February 22
March 8
March 22
April 5
April 19
May 3
May 17
May 31
June 14
June 28
July 12
July 26
August 9
August 23
September 6
September 20
October 4
October 18
November 1
November 15
November 29
December 13
December 27


Chris,

Jeff and I have spent some time discussing Sempra issues and decided to use
the meeting delay as an opportunity to develop some power price structures
that may be interesting to them. This is all driven by PG&E's recent move to
fix prices for upwards of 1,000 MW's.  The pressure will be on SDG&E and SCE
to do likewise.

 I will be in Portland on Monday and hope to get some time with you to
discuss this but wanted to provide you with a preview.

Jeff and I discussed some structures that might be attractive to Sempra given
the regulatory and shareholder risk they face should they (1) continue to buy
power at market prices and/or (2) lock in a fixed price:
(a) costless collar,
(b) fixed price coupled with writing long-dated puts, and
(c) price cap.

These structures are intended to address Sempra's risk exposure.  Our
underlying understanding is:
1)  Continued purchases @ market exposes Sempra to substantial regulatory and
shareholder risk,
2)  Fixing the price mitigates both of these risks,
3)  A costless collar arguably keeps Sempra in the market limiting their
exposure to higher prices but allowing them to benefit from lower prices,
4)  Writing the put generates a premium which can be applied to lower a fixed
price, and
5)  Holding a call eliminates their exposure to high prices and allows them
to benefit from lower prices.

With that said, I expect the cost of the call to be huge.  However, the
costless collar and fixed price with a put could be attractive.  The only
problem with collars is that our bid-offer spread typically skews the band
such that if the underlying price were $50, a cap with a $70 strike would be
associated with a $40 strike on the put.

Our thought was to get some notional prices and but together a few plots to
illustrate how these products work.

What do you think?

Laird


Please be advised that the CalPX has received a subpoena from the California
State Senate Select Committee to investigate price manipulation of the
wholesale
energy market.  The subpoena is posted on the CalPX Web site and is available
through the link below.  The subpoena seeks confidential information,
including
materials that are confidential under Section 19.3.2 of the CalPX tariff.
Confidential materials provided by the CalPX in response to this subpoena will
be treated by the Senate Select Committee in accordance with the terms of the
May 15, 2001 letter from Senator Joseph L. Dunn that is also posted on the
CalPX
Web site.  The date for production by the CalPX of the requested materials has
been extended beyond the May 18, 2001 deadline stated in the subpoena and
letter.

If you desire to assert a claim of confidentiality or privilege, you should
direct your written statement by Tuesday, May 22, 2001, to the name and
address
below:

Larry Drivon
Special Counsel to the Select Committee
Office of Senator Dunn
State Capitol
Room 2080
Sacramento, CA  95814
Tel:  (916)445-5831
Fax:  (916)323-2323
E-mail:  alexandra.montgomery@sen.ca.gov

You may also deliver a copy of your statement to the CalPX as follows:

Lisa Urick
Managing Attorney
California Power Exchange Corporation
200 South Los Robles Avenue
Suite 400
Pasadena, CA  91101
Tel:  (626)537-3100
Fax:  (626)537-3159
E-mail:  lgurick@calpx.com

Thank you.

http://www.calpx.com/news/newsreleases/CA%20Senate%20Subpoena%205-10-01.pdf


Start Date: 1/14/02; HourAhead hour: 5;  HourAhead schedule download failed. Manual intervention required.


Please add these dates and times to your calendars.....
Wed. Dec. 6th 49c4                             Noon - 2:00
Thurs. Dec. 7th 50 M Dining Room         11:30 - 1:30
Fri. Dec. 8th 50 Floor Board Room     11:30 - 1:30

Carolyn and Dwight Dawson of the Teamleadership Center are hosting 3 Team
Building sessions for everyone in Information & Records Management.  Lunch
will be provided each day.

The surveys we handed out to some of you are for those who missed our first
session with Dwight earlier this year.   Please have them back to me Friday
morning.   Thanks everyone!

Sandy x3-6766
PS - please pass the word to anyone not working on a PC ---Thanks


Content-Transfer-Encoding: quoted-printable
Date: Fri, 16 Mar 2001 09:06:49 -0600
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "Paul Fox" <pfox@bracepatt.com>
Cc: "Ronald Carroll" <rcarroll@bracepatt.com>
Subject: Calif. regulators postpone key ruling on power spending
Mime-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Disposition: inline

Thursday March 15, 4:48 pm Eastern Time

Calif. regulators postpone key ruling on power spending

SAN FRANCISCO, March 15 (Reuters) - California regulators postponed a
decision on Thursday on how much money the state will tap from monthly
utility bills to finance badly needed long-term power purchases -- projected
at $43 billion.

The state Public Utilities Commission (PUC) postponed the issue to its March
27 meeting.

An estimated $10 billion state bond issue to help finance the power purchases
is a key part of the rescue plan.

State Treasurer Philip Angelides hopes to close the initial bond issuance by
the end of May but needs the PUC to decide how much electricity bill revenues
will go to the state.

Long-term deals to buy cheaper power from independent energy companies are a
key part of California's emergency rescue plan to stabilize its chaotic power
market and keep its two big investor-owned utilities from bankruptcy.

To help pay for that power, the PUC, which sets gas and electric rates, must
decide an amount to take from the bills paid to PG&E Corp.'s (NYSE:PCG -
news) Pacific Gas and Electric unit and Edison International's (NYSE:EIX -
news) Southern California Edison subsidiary.

The two companies supply electricity to about 24 million Californians.

The money is to go to the state's Department of Water Resources, the agency
charged by Gov. Gray Davis with negotiating and signing contracts to buy
power at locked-in prices well below the prices paid in the volatile
wholesale spot market.

PG&E and SoCal Edison want all of their generating costs covered before any
dollars are tapped for state purchases.

So far, Davis has announced 40 separate agreements and contracts with 20
energy companies which add up to $43 billion in supplies to be delivered over
a few months to 10 years. The supplies total almost 9,000 megawatts -- enough
electricity for about 9 million homes.

Under California's flawed scheme to deregulate its power industry, PG&E and
SoCal Edison were forced to buy power in the costly spot market but were
barred from collecting that price from customers because of a rate freeze
that runs to March 31, 2002.


----- Forwarded by Jeff Dasovich/NA/Enron on 04/30/2001 04:26 PM -----

	Jeffery Fawcett/ENRON@enronxgate
	04/30/2001 10:17 AM

		 To: Lorna Brennan/ENRON@enronXgate, Kevin Hyatt/ENRON@enronxgate, TK
Lohman/ENRON@enronxgate, Michelle Lokay/ENRON@enronXgate, Lorraine
Lindberg/Enron@enronXgate, Lisa Fawcett/HOU/EES@EES, Jeff
Dasovich/NA/Enron@Enron, Susan Scott/ENRON@enronXgate,
mbaldwin@igservice.com@SMTP@enronXgate
		 cc:
		 Subject: California Sing-along

And to start off the week.....

California's new State Song! The Rolling Blackout Theme Song
(To the theme music from the TV western "Rawhide")
Rollin', rollin', rollin',
Though the state is golden,
Keep them blackouts rollin', statewide.
A little colder weather,
And we all freeze together,
Wishin' more plants were on the line.
All the things I'm missin',
Like lights and television,
Are waiting 'til we can pay the price.
(Chorus)
Turn 'em on, turn 'em off,
Shut 'em down, block 'em out,
Turn 'em on, turn 'em off, statewide!
Brown 'em out, black 'em out,
Charge 'em more, give 'em less,
Let the pols fix the mess, statewide!
Keep movin', movin', movin',
Though they're disapprovin',
Keep them rates a-movin', statewide.
Don't try to understand 'em,
Just raise, charge, and collect 'em.
Soon we'll be livin' high and wide.
My heart's calculatin',
Nuclear plants will be waitin',
Be waitin' at the end of my ride.
(Chorus)
Turn 'em on, turn 'em off,
Shut 'em down, block 'em out,
Turn 'em on, turn 'em off, statewide!
Brown 'em out, black 'em out,
Charge 'em more, give 'em less,
Let the pols fix the mess, statewide!
STATEWIDE! Hyaah!


No record here and I was here at that time.  He may have done it with Janet.

Daren J Farmer
03/21/2001 01:21 PM
To:	Gary W Lamphier/HOU/ECT@ECT
cc:	Aimee Lannou/HOU/ECT@ECT
Subject:	Central Power & Light

Gary,

Do you have any record of this?

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 03/21/2001 01:20 PM ---------------------------
Aimee Lannou   03/20/2001 01:38 PM

To:	Daren J Farmer/HOU/ECT@ECT
cc:	Juliann Kemp/ENRON@enronXgate, Rebecca Griffin/NA/Enron@Enron
Subject:	Central Power & Light

Daren - was there a deal for 5.000 at CP&L on Feb. 21?  CP&L shows 5.000, but I have looked in MOPS and there is not a deal.  Can you verify whether or not there was a deal for that day?  Thanks.

Aimee

---------------------- Forwarded by Aimee Lannou/HOU/ECT on 03/20/2001 01:39 PM ---------------------------

Rebecca Griffin@ENRON
03/20/2001 01:18 PM
To:	Aimee Lannou/HOU/ECT@ECT
cc:
Subject:	Central Power & Light

Aimee,

I received a call from CP&L about the February 2001 production invoice.  They are showing 5,000 mmbtu on February 21 for HPL.  We are not showing anything for HPL on that day.  Could you verify if this is correct?

Thanks for your help.

Rebecca


this is fantastic!!
---------------------- Forwarded by Steven J Kean/NA/Enron on 08/22/2000
04:57 PM ---------------------------

	From:  Ann M Schmidt                           08/22/2000 09:03 AM

To: Steven J Kean/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Paula
Rieker/Corp/Enron@ENRON
cc: Mark Palmer/Corp/Enron@ENRON

Subject: Time Magazine - Enron Plays the Pipes....

This article is forwarded to you per Mark Palmer's request...

Business
Enron Plays The Pipes This old-time gas company is trading fuel for a future
as a new-economy
superpower. Will the swap work?
Frank Gibney Jr./Houston

08/28/2000
Time Magazine
Time Inc.
38+
(Copyright 2000)

It's Saturday night, and the only thing between you and a movie from
Blockbuster Video is the unpaid late fee for
last week's rental. If that sounds familiar, then you'll appreciate this:
next year Blockbuster plans to offer up to 500
movie titles online in more than a dozen major cities around the U.S. That's
right, video on demand (not the
frustrating no-rewind, no-pause pay-per-view offerings of today) for anyone
with a DSL line at home.

What's remarkable is that Blockbuster's partner happens to be an energy
company called Enron. At a time when
so many old-economy companies seem helpless against the dizzying pace and
technology of the digital age,
Enron is demonstrating why FORTUNE magazine keeps voting it the most
innovative large company in America.
For years the Houston-based firm simply produced, transported and marketed
natural gas. Then, as energy
deregulation threatened profit margins in the gas business, Enron discovered
it could make billions by trading and
brokering packages of energy the way Midwesterners do pork bellies. Now Enron
is moving into the
telecommunications business, with a national fiber-optic cable network and a
floor bulging with Sun
supercomputers.

In fact, Enron may be the most interesting old-economy company around. Since
moving its trading operations from
the phone to the Web eight months ago, the company has doubled revenues to
more than $30 billion. Most of that
is made through trading everything from energy and paper to weather risk
derivatives and now bandwidth--more than
800 offerings in all. Think of eBay, but instead of auctioning $5 used Baby
Gap pajamas, the company trades
$600,000 blocks of natural gas--and pockets commensurately huge commissions.
Boasts Enron president Jeffrey
Skilling: "In terms of dollars transacted, we're the world's largest online
site by a factor of 10."

So far this year, that has meant $120 billion in transactions. And when
you're running the network, all sorts of
profitable opportunities arise. Last week, when word spread that natural-gas
prices would spike this winter, Enron's
in-house traders saw their gains surge as customers raced to lock in future
supplies at today's prices. And Enron's
stock price? It hit $90 last week, tripling its value of a year ago. Kind of
like an Internet play, only better.

The market loves Enron because Skilling and CEO Kenneth Lay seem to have come
up with a business model that
works for just about anything. They provide a service to their customers by
packaging a supply of name your
commodity and then using the efficiency of their vast network to beat most
prices. They arrived at this model back
in the mid-1980s almost out of desperation, when crude-oil prices had
collapsed, natural-gas deregulation had
thrown that market into chaos, and the Peruvian government had just
nationalized Enron's offshore properties.
Figuring they might as well leverage deregulation instead of succumbing to
it--call it business judo-- Skilling, a
McKinsey & Co. consultant at the time, came up with a plan called the Gas
Bank, to buy up reserves of natural
gas, then package them for sale, with various prices and conditions for
different customers. When electricity
markets deregulated a few years ago, the company did the same. It's the
oldest concept in business: buy low, sell
high.

Enron also leverages its assets and expertise to provide services to big
customers. Since 1997, companies like
Owens Corning and Chase Manhattan Bank have signed long-term,
multibillion-dollar contracts with Enron
subsidiary Enron Energy Services (EES) that lock in their energy costs for up
to 10 years and provide Enron with a
steady revenue stream. What's more, Enron is beginning to actively manage its
clients' heating and cooling plants,
installing new equipment when necessary and monitoring it all over the
Internet.

Skilling's latest gambit is to apply the same principles he learned in the
power and energy sectors to making Enron
a leader in the booming telecommunications business. The plan isn't to go
head to head with established fiber-optic
carriers such as AT&T, Qwest and Williams Communications. Instead, Enron
wants to use new switching
technology and its expertise in trading pipeline access to transform a modest
telecom network into a powerful
arbiter of bandwidth. Enron's bet is simple: supply and demand will increase
exponentially, turning bandwidth into a
tradable commodity, just like gas and electricity. Along the way, why not
partner with companies such as
Blockbuster and use this new technology to offer content--like movies- -and
blow it through existing, underutilized
pipe? "They are jump- starting an application [telecom content] with a
potential market of $200 billion a year," says
Tom Nolle, president of the telecom consulting firm CIMI.

Other new-economy players are also beginning to see the power merchant as a
prize partner. IBM and AOL have
joined with Enron to form the New Power Co. (TNPC), an independent start-up
that will offer pricing schemes and a
choice of power and gas service for residential and small-business customers.
Enron provides the electricity; AOL
enables customers to buy it via the Web; and IBM takes care of the billing.
"It's ludicrous that we're in the 21st
century, and you still have people jumping over fences to read meters," says
Skilling, pointing out that the
technology exists to offer real-time pricing for gas and electricity. In
deregulated markets, TNPC will allow
consumers to switch power companies as easily as they do phone companies.

Despite all Wall Street's enthusiasm for Enron's bold plans, there are still
plenty of skeptics. Critics point out that
there is barely a market today for the company's bandwidth trading exchange.
They also stress that pushing digital
signals through pipe is a world away from routing natural gas. Although there
is plenty of cable across the country,
carriers are not set up to mix and match access to it. "It's a very, very
difficult concept," says Nolles. Even the
Blockbuster venture is risky: technology aside, there is also the highly
political question of digital rights. How do
you satisfy Hollywood that its content is secure?

But Skilling and his lieutenants are quick to counter that everyone thought
they were crazy to try to make markets
in gas and electricity. And Enron, after all, is a company that thrives on
entrepreneurial defiance of convention.
Many of its new ventures were started because managers simply set new ideas
in motion without waiting for
approval from the top. Even the online operation was cobbled together in a
mere seven months. Skilling and Lay
found out about EnronOnline only two weeks before it went live.

Is taking risks really a part of a gas-pipeline company's culture? Just ask
John Arnold, the 26-year-old chief of
natural-gas derivatives, who after nine hours and $1 billion in trades last
Wednesday had this to say: "You can't turn
away for a minute or you get picked off." That has happened to too many
traditional companies because they were
unable to find a niche in the new economy. Enron, however, has traded its way
into a starring role, and now it
hopes it is ready for the movies.

[BOX]

THE PIPELINE OF PLENTY --Natural-gas production --Electric-power generation
--Enron Online: global-trading
system for 800 commodity products; $120 billion in trades so far in 2000
--Enron Energy Services: contracts with
institutional customers to manage all power needs at fixed, long-term prices.
Ultimate aim is control, via the Web,
of heating, ventilation and air conditioning --Enron Broadband Services:
trades bandwidth capacity to fill customers'
transmission needs. Offers bandwidth to content providers like Blockbuster
and AtomFilms.com

COLOR PHOTO: GREG GIRARD--CONTACT PRESS IMAGES THE KING OF REINVENTION
Desperate conditions
in the '80s forced Enron's president Skilling to come up with a new and
highly adaptable business model COLOR
PHOTO: PAUL S. HOWELL--LIAISON AGENCY FOR TIME POWER MERCHANT Even as it
trades commodities
from coal to bandwidth, Enron continues to expand its gas and electric
production around the globe COLOR
ILLUSTRATION: ILLUSTRATION FOR TIME BY BILL SCHWARTZ

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


Please make every effort to attend this meeting as it relates to the work you
will be doing with bonuses this week.

Date:  Today - Tuesday, January 9, 2001
Time: 1:30 - 2:30 PM
Place: EB 30C1
Subject: Results from Market Compensation Study by Todd Burke
Attendees: Sally & Brent's Direct Reports (Operations only) + HR

Thanks,
Patti x39106


i think going to ny is in your best interest

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:15 AM
To:	Maggi, Mike
Subject:	RE:

see you cannot be trusted.  and how is that looking out for your best interests?  should you change your thinking sir?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:13 AM
To:	Nelson, Michelle
Subject:	RE:

youre right, im sorry, i think i was looking out for me

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:10 AM
To:	Maggi, Mike
Subject:	RE:

why would you want to do that?  how is that looking out for me?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:10 AM
To:	Nelson, Michelle
Subject:	RE:

i think so

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:09 AM
To:	Maggi, Mike
Subject:	RE:

are you trying to get me in trouble charlie brown?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:08 AM
To:	Nelson, Michelle
Subject:	RE:

really?

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:07 AM
To:	Maggi, Mike
Subject:	RE:

you find me the explanation to all and i will find the day!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:06 AM
To:	Nelson, Michelle
Subject:	RE:

i am serious, you can find one day

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 9:59 AM
To:	Maggi, Mike
Subject:	RE:

are you being serious?  i am not my own boss you forget.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 9:58 AM
To:	Nelson, Michelle
Subject:	RE:

you tell me, my schedule is pretty open

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 9:57 AM
To:	Maggi, Mike
Subject:	RE:

ok when?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 9:54 AM
To:	Nelson, Michelle
Subject:	RE:

cant we just go for one day

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 9:51 AM
To:	Maggi, Mike
Subject:

they are lighting the tree on wednesday in ny!  we are going to miss it.


Start Date: 1/30/02; HourAhead hour: 14;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002013014.txt


I suggested yesterday that you ask Sheila about the timeframe, and you told
me you would just go ahead and do it.  I'll just tell her it isnt' ready. It
doesn't matter to me.

Kay

From: Suzanne Adams@ECT on 05/16/2001 09:44 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: GE books

I asked you yesterday when you needed these binders.  It's a good thing I had
them almost done.  I would appreciate it in the future if you would give me a
heads up on what is happening.  This morning Dan, Sheila and you are all
needing things, and I'm only one person.

	Kay Mann@ENRON
	05/16/2001 08:57 AM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: GE books

There is a 130 phone call today regarding the stuff you are putting together
re GE.  It would be helpful if it was ready a couple of hours in advance.

Thanks,

Kay


For our argument that the market is responding to expected new supplies.

----- Forwarded by Linda Robertson/NA/Enron on 06/15/2001 03:51 PM -----

	Jeffrey Oh/ENRON@enronXgate
	06/15/2001 03:11 PM

		 To: Linda Robertson/NA/Enron@ENRON
		 cc:
		 Subject: New Gen Report

Jeffrey Oh
Enron North America   503.464.7789
West Power Desk    503.708.1760 (c)
121 SW Salmon Street 3WTC0306  503.464.3740 (fax)
Portland, Oregon 97204   jeffrey.oh@enron.com


Jimmy/Steve -

Attached is the updated version of the BETA based upon Jimmy's comments and
our subsequent discussion.  Also attached is the updated fee agreement.
Since we anticipate signing the BETA as a formal document, I have modified
the Fee agreement accordingly.

Bob will forward the product exhibit to the fee agreement under separate
e-mail.

Please let me know if you should need anything further.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


I have tried but cannot get the attachment to open to look at the report
produced by London.  Do you have a hard copy that I can see?  I can get it
from you during the Risk Forum luncheon today.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 11/14/2000 09:55 AM
---------------------------

From:  Cassandra Schultz @ ENRON
               11/14/2000 08:37 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: Rick Buy report

Sally - Plse see the attached summary that Risk Ops prepares for
Frevert/Sherriff/Brown on Enron Europe every week.  Do your business unit
controllers prepare something like this for the Americas, EGM, & EIM that we
could use in our weekly briefing to Rick Buy?  What's happening is we try to
prepare our own analysis of the trading P/L, and it really doesn't make much
sense to do that since Ops is probably already doing it.  I'd love to get
looped in to similar analyses for the other business units.  Also, do you
know who I'd contact in  EES?  I'll call Barry Pearce for EBS.

Thank you,
Cassandra.
---------------------- Forwarded by Cassandra Schultz/NA/Enron on 11/14/2000
08:30 AM ---------------------------

Homan Amiry@ECT
11/14/2000 05:52 AM
To: Cassandra Schultz/NA/Enron@ENRON
cc: Bjorn Hagelmann/HOU/ECT@ECT

Subject: Re: Rick Buy report

Attached is a copy of the latest European Trading Summary.
As this report contains the same information as the Rick Buy report, I
suggested to Ted that we stop duplicating work and simply use this report.

The report is usually produced on Monday mornings UK time, so should be ready
when the Rick gets in the office.
People to contact wrt co-ordination are, Michael Kass or his superior James
New.

Please let me know if this report will be used in this week's Rick Buy report.

Homan Amiry

From:  Cassandra Schultz @ ENRON
               13/11/2000 19:56

To: Homan Amiry/LON/ECT@ECT, Jitendra Patel/Market Risk Management/LON/ECT@ECT
cc:

Subject: Ops Weekly Update

Ted mentioned to me that you guys receive or participate or just know of some
type of weekly Enron Europe update on Fridays for Sherriff??? or some top guy
over there, and that Risk Operations (New/Jordan etc.) prepare a report for
that update.  Meanwhile, back in Houston we (MRM) independently prepare a
weekly update for Rick Buy on Thursdays.  I'd like to get a copy of the
report done last week, and talk to whoever in MRM participates, if anyone
does, or if it's just Ops then whoever that is.  I think Ted was thinking we
could leverage off this report and maybe move Rick Buy's weekly update back a
day to coincide.

Do you know what I'm talking about?  Or should I talk to Lloyd or Oliver? I'd
like to discuss after the morning meeting tomorrow if you have a minute -
maybe you can also fax or e-mail the report?

Thanks,
Cassandra.
work 713 853 0429
fax 713 646 2194


NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

Houston: 1.713.853.4777, Option 4
London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
CHRISTIANSEN, SUZANNE D         RANDALL L GAY                   Nov 01, 2000
FRANK, CAROLE C                 DARRON C GIRON                  Nov 01, 2000
GAY, RANDALL L                  ROBERT A SUPERTY                Nov 01, 2000
LENHART, MATTHEW F              PHILLIP K ALLEN                 Oct 31, 2000
LUCCI, PAUL T                   MARK WHITT                      Nov 02, 2000
WOLFE, JASON                    DARRON C GIRON                  Nov 06, 2000


[IMAGE]	[IMAGE]
	 [IMAGE]      Sunfinder Vacations Newsletter (03/02)   Dear Subscriber:  This month we're pleased to offer a subscriber exclusive to one of our favorite resorts in Cancun, the Hilton Cancun Beach & Golf Resort . This resort offers very reasonable prices for a resort of its quality. To sweeten the deal, we're offering $50 off your final payment for any air-inclusive Hilton Cancun package that you book with us this month. After booking online, just mention the code "Viva Mexico" when you call one of our friendly reservation agents to arrange payment. This exclusive offer is valid for new bookings made between 3/12 and 3/31 only.  ===== March Sweepstakes =====  This month's vacation sweepstakes prize is a certificate for a six-night stay at the new Royal Solaris  resort in Los Cabos, Mexico. This deluxe all-inclusive resort is a great place to escape from the daily grind and unwind. Click here to enter!   ===== Vacation Specials =====  Caribbean Sale! For a limited time you can save up to 35% on travel to the Caribbean. You'll find savings on a wide variety of hotels in conjunction with air on American Airlines, US Airways, Continental Airlines, Delta Airways, and Air Jamaica. Check pricing and availability now  because space is limited. Valid for travel April 15, 2002 through August 31, 2002. Book by March 31, 2002.   Find more package specials at http://www.sunfinder.com/vacation_specials.htm     ===== Deals & Resources =====  Cruise Vacations : Great deals on vacations at sea! Farebeater : Find low airfares quickly and easily. Hotel Reservations : Negotiated rates at over 2,000 properties. Discount Car Rental : Find great rates from leading rental car companies. Travel! Guard : America's #1 travel insurance online. Hilton BounceBack Weekends : With full breakfast daily for two. Travel Finder : Find travel around the corner or around the globe. Florida Travel : Visit the Sunshine State! Adventure Travel : Off the beaten path. Golf Travel : Fore fun!    ===== To Unsubscribe =====  This newsletter is sent only to subscribers and those who have booked travel or created accounts through Sunfinder Vacations and our partner sites. You can  unsubscribe by clicking here ,  or by going to http://www.sunfinder.com/newsletter/unsubscribe.php   and typing in the e-mail address sscott5@enron.com.  ===== Happy Travels! =====  We appreciate your support. Thank you!  Sunfinder Vacations http://www.sunfinder.com/  vacations@sunfinder.com CST#2044781-40


On 6/2/00, Enron participated in EPSA's comments on FERC's Notice of Interim
Procedures to Support Industry Reliability Efforts for the summer
(attached).  On 5/17/00, FERC issued streamlined market based rates filings
for industrials with on-site generation to sell into the grid, decreased
approval requirements for utility deals with customers to interrupt load,
more FERC hotline staff, and better updates of ATC.  In addition to FERC's
proposals and requests for additional ideas, EPSA commented:
Need robust competitive market to incentivize new generation
Overall big requests--eliminate CBM, require independent ATC calculations,
require independent Security Coordinators, and native load under same tariff
Specific suggested fixes for this summer:
 (1) Require transmission providers to give written notice to FERC and post
within 24 hours of using CBM the specific details of the "emergency"
 (2) Require random FERC OASIS audits of TLRs and ATC
 (3) Require retention of data confirming system conditions existing at the
time of a TLR

FERC has not acted on these comments yet.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 06/05/2000
04:49 PM ---------------------------

"Julie Simon" <JSIMON@epsa.org> on 06/05/2000 01:36:56 PM
To: <Christi.L.Nicolay@enron.com>
cc:
Subject: Re:

sure.  They're attached.

Julie Simon
Director of Policy
Electric Power Supply Association
202-789-7200
jsimon@epsa.org

 - short-term reliabilty comments.doc


As usual, the lawyers are the last to know.

Stuart is working on a transaction to sell the asset (Gleason), and therefore
this ageement needs to be documented asap, which means in the next few days.
Please review the attached and give me a call.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/10/2000 09:52
AM ---------------------------

	Enron North America Corp.

	From:  Mitch Robinson                           11/09/2000 06:05 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: SWPC Agreement

Kay -

I've reached a verbal agreement with Westinghouse on the LD issues.  I've
attached a letter outlining the agreement.  Could you review from a legal
standpoint?  Call me with questions.

Thanks,

Mitch


> The Institute of International Finance will hold its 2001 Spring
> Membership Meeting on Thursday and Friday, May 31 and June 1, at the Hong
> Kong Convention and Exhibition Centre in Hong Kong.  Please mark your
> calendar and plan to join us.  Additional details will be provided before
> year's end.


Please advise your team members who:

1.  Have accepted an offer/contract from UBS or
2.  Intend to sign an offer/contract from UBS

to please attend a meeting at the Houstonian on Wednesday, 1/23/02 from 10:00 am to 1:00 pm for a welcome and overview presented by UBS senior management.  Breakfast treats will be served starting at 9:00 am.

The meeting will begin at 10:00 am sharp - please encourage your teams to attend.

If you have any questions, please see Amy or Jeanie.

Thanks.


For once his is not a Panenergy question.  For sale deal 707274, DEFS says the price on 4/4 should be 5.25 and we have 5.20 in Sitara.  Can you confirm this price for me?

Megan


Stephanie,
I need to get an ISDA set-up with Delphi Automotive (NYSE DPH). Ken Curry is looking into credit limits. As soon as you have it ready, thanks for forwarding to me the two copies (I am now located in Enron South at 04848). I want to forward it with other documents to the client.

Many Thanks

ext 55885


I had heard that the big E bought out the minority investors last summer.
Hadn't seen this coming.  So what's next for Azurix?


I will give you my 2nd, 5th, 8th  for your 2nd & 6th


Stephanie,

We are breaking up our Central Midcon region into two books beginning July
1.  To facilitate this, Sitara has set up two new internal books:  ENA-IM Mid
Central South & ENA-IM Mid Central North.  It would be helpful if we could
have any physical June EOL deals continue to be booked to ENA-IM Central but
all physical July-out deals booked to the new books.  The two traders
involved are Kelli Stevens and Ed Smith.

 Kelli Stevens ENA-IM Mid Central South
 Ed Smith ENA-IM Mid Central North

Please let me know if there is anything else I need to do to expedite this
request.  Thanks for your help.

DG    3-9573


----- Forwarded by Tana Jones/HOU/ECT on 09/20/2000 03:03 PM -----

	Janelle Scheuer
	09/20/2000 10:33 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: RE: New York Power Authority

Hi Tana....here's the latest add'l info.  Can we get on this right away, so
hopefully we can execute a transaction on Friday.  Thanks.
---------------------- Forwarded by Janelle Scheuer/HOU/ECT on 09/20/2000
10:32 AM ---------------------------

"Carey, Michael" <Michael.Carey@nypa.gov> on 09/20/2000 10:26:08 AM
To: "'Janelle.Scheuer@enron.com'" <Janelle.Scheuer@enron.com>
cc:
Subject: RE: New York Power Authority

Janelle:  My Law people tell me we'll want to use the "Multi-Currency, Cross
Border" ISDA with the NYPA version of the Confirmation (that I sent to you).
In addition, they want New York law to govern not Texas law.  Re the
guaranty,  we want to send you our draft on that account for your review and
will do so this PM. Can Enron accommodate all this? Thanks, MIKE.

-----Original Message-----
From: Janelle.Scheuer@enron.com [mailto:Janelle.Scheuer@enron.com]
Sent: Tuesday, September 19, 2000 1:16 PM
To: Carey, Michael
Subject: New York Power Authority

Hi Mike!
A parent guaranty is no problem.  I'm attaching a copy, so you know what it
looks like.
We have a standard "long form" confirm ourselves, that is used until an
ISDA is signed.  I attached a draft below so you could see it as well.
We typically send these standard confirms to all our customers, so it may
expedite things if NYPA doesn't have any aversion to this confirm.  What
are your typical procedures? Would you accept our confirm, or should I go
head and get our documentation people to get started looking over yours?
Was the annual report on the web site sufficient, or would you like me to
Fed-Ex one? Let me know what else can do.
Janelle

(See attached file: long form financial draft.doc)
--
(See attached file: ENRONCORPGUAR.doc)


Attached is a modified version of the proposed PPA.   (Assuming this is still
the format) I have attempted to modify the table to better reflect a proposed
contract for the West power projects.  Look this over and let me know your
comments.


I wasn't sure if you got a copy of this.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/07/2000 05:09
PM ---------------------------

Chris Herron
09/07/2000 01:36 PM
To: Kay Mann/Corp/Enron@Enron, Ozzie Pagan/HOU/ECT@ECT, Heather
Kroll/HOU/ECT@ECT
cc: Lisa Bills/Corp/Enron@ENRON

Subject: Review of Jordan Capacity and Energy Agreement Revised Draft 9/6/00

All:

Below are Lisa Bills' and my comments on the Capacity and Energy Agreement
Revised Draft 9/6/00.  Please call me if you would like me to clarify or
expand upon any of our points.  There may be points that Lisa Bills can
address more thoroughly than I can.  I will seek her input on any question or
concern you may voice.

Chris Herron

Article 1.1 Consistent use of quotation marks: Commercial Operation Date;
Deliver; Delivered; Dispatch Order.

Article 1.1 "Facility Substation": Do rights to access this meter by Seller
need to be stated, or does Article 8.3 give the Seller rights to the data
generated by the meter?

Article 2.2/3 Commencement Date and Commercial Operation Date are different.

Article 2.3 (b) (i)  Seller commencing construction of the Facility on or
before December 31, 2000 will render the off-balance sheet treatment of the
turbines provided by Turbo Park void.

Article 3.4 (c) Third sentence: misspelling of schedule.

Article 3.4 (c) (i)  Close parenthesis needed after "... with Section 8.3."

Article 4.2 Monthly is capitalized, but is not defined in Articles 1.1 and
8.1.

Article 5.1 (b) Reference should be to Buyer not Virginia Power.

Article 12 Does this article allow to disclose the terms of the Agreement
and/or relevant facts about the Facility to prospective purchases of either
the Agreement or Facility?

General  Use of day versus Day versus Business Day.  See Articles 2.1, 2.3
(b), 3.4 (d), 3.4 (g), 4.7, 7.1 (a), etc., for examples.

General   Use of convention to spell numbers immediately followed by the
numerals.  See Articles 1.1, 2.1, 3.4 (e), 4.6, 14.2, etc., for examples.


Attached are  EES's Volumetric NYMEX and Basis positions for today.

Thanks,

Kyle


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


----- Forwarded by Mark E Haedicke/HOU/ECT on 11/03/2000 04:48 PM -----

	John Schwartzenburg@ENRON_DEVELOPMENT
	11/02/2000 03:34 PM

		 To: Sandeep Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Randy Young@ECT,
John Novak/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, paul.kraske@enron.com,
mark.evans@enron.com, Mark E Haedicke@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Deborah Culver@EES
		 cc: Rob Walls/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Vicki Sharp@EES
		 Subject: New Security and Human Rights Policy - Legal Comments

Rob has asked me to collect legal department views on the attached statement
of principles regarding Security and Human Rights that Enron Corp is
considering endorsing. These have been worked out over the past several
months by a task force of the US and UK governments, along with
representatives of industry (including Enron) and NGOs (including Amesty and
Human Rights Watch) under the auspices of Secretary fo State Albright and
Foreign Secretary Cook.  As a result, we really don't  have the ability to
change the text, which is fixed.

As you know, Enron is very concerned about human rights issues because of
their intrinsic value and their community relations impacts.These guidelines
would be in addition to the Human Rights Policy Statement the Enron board
adopted last year, which really do not touch on security matters as such. I
have sent this to each of your since your business units are those that have
the most extensive operations in the developing countries in which these
issues are of primary concern.  (I am separately collecting comments/concerns
from within EES and EECC.)

The Enron effort on this guideline project has been lead by Lauren Goldblatt
of the Corp. PR group. Lauren has run the attached drafts past Mike Hicks and
Pete Vandergam at Corp. Security for their views of whether this can be
implemented by Enron.  We as the legal department have been asked to express
our view on are the following:

(a) Are there any show stoppers that would argue that Enron should not
publicly express its "endorsement" of these polices?
(b) If Enron were to express its endorsement of the policy statement, what if
any material problems do you think your business line might encounter in
implementing the policy?
(c) Do you see any unintended practical or legal consequences that might
arise from Enron publicly adopting or endorsing this as policy?

Please take an hour few hours to read through the materials, or have one of
your lawyers do so. You might need to consult with your operation personnel
for their practical views as well.   I would be grateful if you could express
any concerns you may see with the guidelines by November 7 (Wednesday) so
that I can coordinate comments and get the responses out.   (The deadline for
Enron and other companies to express their endorsement of the policy has been
extended from the November 8 deadline expressed in the attached to November
15. To allow time for Enron to deal with responses, we have been asked to get
our feed back to Lauren by November 8 (Thursday).)

You cane-mail your comments or phone them to  me at 713-646-6309. If I get
suffucient expressions of interest for a conference call by Monday, I will
set up a call in number for Wednesday morning US.

Thanks, I appreciate your views and comments.

----- Forwarded by John Schwartzenburg/ENRON_DEVELOPMENT on 11/02/2000 02:06
PM -----

	Vicki Sharp@EES
	10/26/2000 10:26 AM

		 To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Deborah
Culver, Sarah Gregory/LON/ECT@ECT
		 cc: Lauren Goldblatt/NY/ECT@ECT
		 Subject: Security and Human Rights

John, Rob and I have talked and   Rob would like you to take the lead on
this.  Deborah, I need you to work  with  John S. to see how our
international EES business (Europe, Mexico, etc.) might be   affected by this
and whether we take this position.  I am sure Rob and JOhn will  have the
history and expert opinion as to how this should be handled, and my guess is,
this issue primarily affects EECC at this time.  Maybe one of the Apache
lawyers can take the lead for the traditional EES business.   Rob will be in
next week and then going out of town and I will pick up for him then.
---------------------- Forwarded by Vicki Sharp/HOU/EES on 10/26/2000 09:56
AM ---------------------------

Lauren Goldblatt@ECT
10/25/2000 05:44 PM
To: Rob.Walls@enron.com, Vicki.Sharp@enron.com
cc: Kelly.Kimberly@enron.net
Subject: Security and Human Rights

Rob and Vicki:

Over the past few months we have participated in an initiative aimed at
developing a voluntary set of guidelines governing human rights and security
arrangements.   I would greatly appreciate your thoughts, review, and sign
off on the guidelines.

Should we agree to endorse the principles, we must send a letter to the U.S.
State Department by November 8, 2000.     I have attached a fact sheet as
well as the revised principles for your review.

The principles and signatories will be announced by Madeline Albright and
Secretary Robin Cook in November.

Thank you for time and consideration on this.  Please do not hesitate to call
with any questions.  I can be reached either by cell phone (917) 821-0724 or
by  voicemail at 212-702-3916.

Best Regards,

Lauren

 - corp_resp__20_Sept_[2].doc


Further to our telephone conversation of 7 June, please find attached a draft
Schedule to the above ISDA Master Agreement.

Please note (1) that, in transferring the document to our system we have made
some minor changes to e.g. layout and punctuation (2) that I am liasing with
our
NY office and our client with regard to some of the points discussed, and
accordingly not all of these are reflected in the attached.

I look forward to receiving your thoughts on those issues which you were to
conider further, and in particular on the form of Guaranty.

Regards

James Coiley

(See attached file: EnronSchedule.doc)

 - EnronSchedule.doc


Just a reminder about Tori's baby shower next Thursday (May 19 @2:30).  If
you would like me to shop for you (at Babysrus), just let me know or you can
donate to a pool of money and I will pick out some items.

cc:
Subject: You're Invited


Closeups of the WTC...

-----Original Message-----
From: Steve & Debbie Barone [mailto:sandbar1@optonline.net]
Sent: Wednesday, October 24, 2001 10:41 AM
To: Glenn Wylie; Watson, Dan; Wasilewski, Paul; Tarallo, Dan; Stadtman,
Chuck; Kevin Sorce; Rick Schroeder; Harry Roch; Rebecca Quenet; Matt
Oleary; Nick Nesto; Diana Miller; Bobby & Josephine Menendez; Mantione,
Charles; Chris Little; Krambach, Tom; Laura Giampietro; Rich Flynn; Joe
Fanelli; Drews, Richie; Draper, Daniel; Domenic, Matt; John Dodge;
Joseph Dick; Dennis Villanueva; Dean Delitta; Suzette Cushman; Cushman,
John; Ken Cherasaro; Busichio, John; Daniel Burrer; Buck, Charlie; Ron
Bartke; Terry & Lenore Barone; Brian Barone
Subject: Fw: The FIRST Warning Sign

> FBI have uncovered the very first warning sign that was from one of the
WTC
> towers.
>
>

 - advertencia.pps


I hadn't even thought of that...that must be what he was doing.

Dawn C Kenne
12/04/2000 03:53 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: Unbelievable

No way..I missed it.  He was probably giving my performance review.....

Robin Rodrigue
12/04/2000 03:32 PM
To: Dawn C Kenne/HOU/ECT@ECT
cc:

Subject: Unbelievable

Dawn,

I can't believe it...I just saw Phillip Allen laugh!!!  Like laugh out loud!
Shocking isn't it?  I don't know what caused this phenomenon but I thought
you'd like to know about it.

Later,
Robin


we will cancel these weekly meetings until we get some marketing contracts signed.  Any updates will be taken care of via weekly reports or in Steve Harris' weekly staff meeting.

By now you've probably heard that Kinder-Morgan shelved their Sonoran project.

Susan, please cancel any conf room reservation.

let me know if you have questions.

kh


The enclosed spreadsheet shows the net online position by product, by counterparty, for a number of liquid gas products.  Each column represents the life-to-date position generated on that product, for that customer, through the date in the heading of the column.

I don't see an immediate indication of these customer closing out of positions.

If I can put this into a more convenient form, let me know what would help.

Thanks!
 -jay


Please check the attached list to confirm that these are all the lines we
have of which you are aware.  Thanks Mary
----- Forwarded by Mary Cook/HOU/ECT on 08/22/2000 11:40 AM -----

	Sarah Wesner@ENRON
	08/22/2000 11:33 AM

		 To: Mary Cook/HOU/ECT@ECT
		 cc:
		 Subject: Re:

---------------------- Forwarded by Sarah Wesner/Corp/Enron on 08/22/2000
11:33 AM ---------------------------

Sarah Wesner
08/22/2000 11:10 AM
To: John Arnold/HOU/ECT@ECT
cc: Dutch Quigley/HOU/ECT@ECT

Subject: Re:

Futures' information - will work with Dutch, may take several days

Margin Financing Agreement terms:

Warren Tashnek left me a message today saying that the Soc Gen documents were
coming.

John Arnold@ECT
08/22/2000 07:04 AM
To: Sarah Wesner/Corp/Enron@Enron
cc: Dutch Quigley/HOU/ECT@ECT

Subject:

Sarah:
Can you create a spreadsheet summarizing Enron's open futures interest broken
down by commodity and broker, including maintenance and initial margin for
all commodities (including rates, currencies, gas, crude, etc).
Also, can you create a list of all margin financing agreements in place and
the rates we pay.
Thanks,
John


FYI, note the top of the right-hand column of page 3 of today's Morning
Report (attached).  A local Republican newsletter has suggested that Lockyer
apologize to Dr. Lay and "return $10,000 in campaign cash."

 - Report.pdf


Anthony Campos asked that I re-send this email that was distributed in late
April.
----- Forwarded by Pat Radford/HOU/ECT on 06/08/2000 02:48 PM -----

	Anthony Campos
	04/25/2000 10:09 AM

		 To: Pat Radford/HOU/ECT@ECT
		 cc: Sylvia A Campos/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Marlene
Hilliard/HOU/ECT@ect, Stacey Richardson/HOU/ECT@ECT, Cyndie
Balfour-Flanagan/Corp/Enron@ENRON, Connie Sutton/HOU/ECT@ECT
		 Subject: Legal Documents - Delivery

The following is for ENA Physical / Transport / Financial contracts ONLY.

Please have an available clerk deliver all contract related documents to the
attention of Julissa Marron EB 3761.  For those materials that are addressed
to someone specific, please deliver to their respective locations.  Below is
a list of the usual suspects in our group:

ENA -

Connie Sutton -    EB3766
Anthony Campos -   EB3768A
Stacey Richardson -   EB3769A
Cyndie Balfour-Flanagan -  EB3767A
Sylvia Campos -   EB3764
Linda S. Bryan -   EB3769
Marlene Hilliard -   EB3760

Thank You as always for your help and cooperation,
Anthony
Global Financial Contracts


This is an automated function of Deal Blotter. I have called Will Smith to
let him know it's malfunctioning; but all deals not using NP15, SP15, or ZP26
should default to Firm Energy. I've also changed the energy to Firm in Deal
#458255. If you could let me know the other deal numbers that need to be
changed, I'll follow up with those too.

Thanks,
Kate

Stephanie Piwetz   11/14/2000 02:16 PM

To: Carla Hoffman/PDX/ECT@ECT, Kate Symes/PDX/ECT@ECT
cc:

Subject: Mark Fischer

Hello-
Looks like alot of Mark Fischer's west deals are coming over as CAISO firm
energy, for example deal 458255.01.  Please change, needs to be Frim Energy,
we will need to revise the Confirmation Letter.  CAISO energy on NP 15, SP
15, and Zp 26 delivery points only.

Thank you
Stephanie


I received a call from Tom Favinger at PG&E today.  He is looking for the
responses to his questions from last week and also has a new question.  He
would like to get a breakout of the $10.25 million item in the Pastoria
capital budget labeled Pre-Commercial Operations Costs.

I also spoke to Darryn O Llegas from PECO today.  They are planning to bid
on the peakers and LV Cogen on Friday.  His questions are:

Peakers

* Will Enron's control area dispatching/scheduling software be
included in the property conveyed with the peakers?
* Do the Peaker's permits make any allowance for combined cycle
operation or would they need to re-start the permitting process?
* They would like clarification concerning the joint ownership of gas
interconnects - what is owned, cost to maintain, etc.

LV Cogen

* Update on status of Phase II permitting?
* Update on status of development process?
* Are there any tax abatements of any type for the Phase II project?

Additional Comments from PECO:

* Don't have price curves yet for all of the peakers markets - will
need to develop prior to final bid.
* May have a concern re: market power for the peakers as a result of
the PECO/Unicom merger.  They will be comfortable enough to bid this week
and don't expect it to be a concern for the final bid.
* They will probably submit a bid with separate values for: Wheatland;
other peakers together; LV Cogen.
* They are working their bid from two perspectives: replacement cost
plus a premium and discounted cash flow.  DCF will obviously change as they
get their price curves updated.


Our friends....

Nothing to do on the Saturday before Halloween?  Bored of the same ol'
costumes and Bridge 'n Tunnel crowd down in the Castro?  Want to strangle
the next guy you see dressed up as the Golden Gate Bridge?  Well then, have
we got a bash for you!   It's Rob and Madeleine's last minute Halloween
fiasco.  Sure to be a hit for all ages and attitudes.  Think about
it.....when you combine Madeleine's penchant for over-supplying good food
and drink, insistence on bringing in outside help and making sure everyone's
happy....with Rob's delight for doing the strange and unexpected (especially
with pumpkins!) on his favorite holiday....then this is sure to be a hit.

....and if it's not, we'll at least I've had practice with good creative
copywriting.

Here are the details.

When:  Saturday October 28.  6:30 - ? (We're starting early so those who
want to see the gawkers with cameras in the Castro can get there by mid
evening).

Where:  1228 Grove #1 (and maybe #'s 2-6 if my friendly neighbors open their
doors to make this a big building party).  We're located at the edge of
Alamo Square Park near the corner of Scott and Grove.

Why:  Because I love Halloween and Madeleine loves bobbing for apples.
And...because you're never to old to have Halloween fun.

What Happens:   Basically anything you want to.  But we'll be encouraging...

Creative pumpkin carving in our special carving room (bring your own pumpkin
and carving utensils, and we'll supply the newspaper and votive candles to
light up your scary creation....Generous, aren't we.)

Marshmallow roasting on our neighbor's home-made grill pit in the back yard
(a Weber stacked with wood)

Wine tasting and beer quaffing (free entry to the one who finds a good
pumpkin wine).
All night food snacking (not a formal dinner, but should be enough goodies
to compliment a few glasses of your favorite venom)

Informal costume judging (costumes not required, but c'mon, it's
Halloween....relax, have fun, live a little, dress up!)  No parading around
for this one, simply tap the ghoul on the shoulder you think has an
outrageous get-up and give 'em some credit for putting it on.

Devilish music (we're thinking a deluge of Wagnerian movements (Faust
anybody?)...but bring some of your own to share as well)

What to bring:  Yourself, hopefully a costume (no, you're not required), a
pumpkin if you wish and one small thing to share with a few others to imbibe
or devour (we'll supply the lion's share).  Be creative!

RSVP?  Absolutely...we need to now if we should notify the police of the
impending ruckus!   Use this e-mail (roblevy@earthlink.net or
madeleinet@earthlink.net).  Do so by the 23rd if you can.

Cheers!

Rob and Madeleine (Levy and Todd)
415-296-2124


Attached is the revised draft memo:

Joyce for Steve