Okay "Superman" how many tickets can you really use?

"Buffy - The Vampire Slayer"

To: Greg Whalley/HOU/ECT@ECT
cc:
Subject: Re: Opening Game @ Enron Field - 4/7

"Superman" needs 74 tickets for he and his superhero buddies. Don't ask me
all their names.  Thanks in advance
Jim

Greg Whalley
04/05/2000 05:13 PM
Sent by: Liz M Taylor
To: Gary Hickerson/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, Daniel
Reck/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Jim Fallon/HOU/ECT@ECT,
Jeff Donahue/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT, Jay
Fitzgerald/Corp/Enron@ENRON, Mark E Haedicke/HOU/ECT@ECT, Jeffrey
McMahon/HOU/ECT@ECT, Louise Kitchen/HOU/ECT@ECT, Greg Piper/Corp/Enron@Enron,
Vince J Kaminski/HOU/ECT@ECT, Jere C Overdyke/HOU/ECT@ECT, Brian
Redmond/HOU/ECT@ECT
cc: Stella L Ely/HOU/ECT@ECT, Angie Collins/HOU/ECT@ECT, Lucy
Marshall/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Kimberly
Hillis/HOU/ECT@ect, Janette Elbertson/HOU/ECT@ECT, Sue Ford/HOU/ECT@ECT,
Lydia Cannon/HOU/ECT@ECT, Tina Spiller/Corp/Enron@Enron, Shirley
Crenshaw/HOU/ECT@ECT, Donna Baker/HOU/ECT@ECT, Katherine Benedict/HOU/ECT@ECT
Subject: Opening Game @ Enron Field - 4/7

Greg Whalley has rented out the Rooftop Deck & Clubhouse at Union Station for
Opening Game on Friday, April 7.  You are cordially invited to party with
Greg "the Green Hornet" Whalley, with game time beginning @ 7:05p.m. - Astros
vs. PHI.

Please contact me about the numbers of tickets you will need.  We may be able
to accommodate some members of your team.    The rooftop can hold up to 75
people.

Many Thanks,

Liz Taylor x31935


Please put this on my calendar.  I don't know if I will make it there, but I
would like for it to be on my calendar.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 09/22/2000 04:44 PM
---------------------------
 Office of the Chairman
From: Office of the Chairman@ENRON on 09/21/2000 10:52 PM
To: All Worldwide Enron
cc:
Subject: Enron All-Employee Meeting Notice

Please join us at an all-employee meeting at 10 a.m. Tuesday, Oct. 3, in the
Hyatt Regency's Imperial Ballroom. We will review our financial and operating
highlights and discuss in more detail the strategy behind Enron Net Works and
our wholesale marketing efforts.  The meeting will be streamed live on IP-TV
to employees in Houston, Omaha, Portland, New York, Calgary, Toronto, London,
Stockholm, Frankfurt and Amsterdam.  For the first time, we will broadcast
the meeting via video teleconference to employees in Sao Paulo, Rio de
Janeiro, Buenos Aires and San Juan.

As always, we welcome your questions and will answer any questions submitted
in advance.  Please send them to Mary Clark by e-mail, fax (713-853-6790) or
interoffice mail (EB4704C).  The deadline for advance questions is Wed.,
Sept. 27.  Of course, we also welcome and will answer any questions raised at
the meeting.

We look forward to seeing you there.

Ken, Jeff and Joe


WHALLEY, LAWRENCE G,
?
You have been selected to participate in the Mid Year 2001 Performance
Management process.  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 a request for feedback, access PEP at http://pep.enron.com and
select Complete Feedback from the Main Menu.  You may begin providing
feedback immediately and are requested to have all feedback forms completed
by Friday, May 25, 2001.
?
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 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@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.  NOTE: YOU WILL
RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.
?
Employee Name:
DETMERING, TIMOTHY
DOSHIER, RAYMOND
HAEDICKE, MARK
KITCHEN, LOUISE
PORT, DAVID
THOMPSON,


Jeff,

I would like to type a business plan for the group.   This plan will encorporate what the others discussed in their individual plans.  Also, I will try to address how we can sharpen the focus of the individual traders and narrow the scope of their trading.   I'm flying tomorrow and will do this on the plane.  My suggestion is we go over all of this thursday afternoon after the markets have closed.  Let me know if that time suits you.


You'd probably better tell me what day works for you....you're the one with the family.  I'll give you a call as soon as I can find a phone down here.

 -----Original Message-----
From: 	May, Larry
Sent:	Tuesday, February 12, 2002 1:53 PM
To:	Scott, Susan M.
Subject:	RE: Hello

Sounds great, let me know which day, give me a call, something else I want to speak with you about.

 -----Original Message-----
From: 	Scott, Susan M.
Sent:	Tuesday, February 12, 2002 12:16 PM
To:	May, Larry
Subject:	Hello

Hi Larry,

Just wanted to see how you're doing these days.  I'm glad to hear things are finally up and running and that you all have stuff to do now.  I'm with the rest of the lepers down on the fourth floor these days.  We'll have to round up a group to grab a drink after work sometime.

Susan


He is officially a scheduler now.  This is how the East Desk fared.
Scott Neal, Judy, Chuck - associate, Andy Rind, Sandra Brawner, Brad McKay, John McKay.
Frank Vickers, Craig Taylor, Jared.
Scheduling - Victor, Clarissa, Chris Ordway, Meredith, Scott Goodell.

Vickie and Scott Loving were moved to the estate team.  If you didn't get a job offer you are considered part of the estate team.

 -----Original Message-----
From: 	"Franklin, Cynthia" <Cynthia.Franklin@ElPaso.com>@ENRON
Sent:	Monday, January 21, 2002 3:41 PM
To:	Germany, Chris
Subject:	How Is Everyone?

Chris,
Someone here said that letters were passed out last Friday. If you received
a letter you were being asked to stay and if you didn't get a letter I guess
that was official notification that you weren't employed any longer. Do you
know how Goodell fared?

Cindy Franklin
Transportation Services
Work:832.676.3177
Fax: 832.676.1329
Pager: 1.888.509.3736

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


570011 - Prebon said it's their deal
570023 - broker was changed to Prebon
570801 - I'm waiting until after the calc to change del.point to NP
570473 - waiting for calc to add .005 broker fee
570444 - waiting for calc to add .005 broker fee
569957 - changed in CAPS but not Enpower - waiting for calc

Sorry about all those unfinished ones, but Risk started calcing a while
before I got your e-mail, and they're still going. I'll let you know when
these deals have been corrected.

Thanks,
Kate

Evelyn Metoyer@ENRON
04/04/2001 02:58 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 4/4 Checkout

PREBON WEST

Chris Mallory
deal 570011
Prebon does not recognize

deal 570023
Broker should be Prebon not APB

deal 570801
location s/b NP not SP

AMEREX WEST
All deals are fine.

BLOOMBERG

DEAL 570473
bloomberg shows fee of .005

deal 570444
bloomberg shows fee of .005

deal 569957
Bloomberg shows cp as Allegheny Energy and we show Duke Energy
P.S. if this did should be Duke the correct entity should be Duke Power, a
division.......not Duke Energy Marketing..


Paul Leanza with Clinton may have a market for the Peoples Gas.  Dick wanted
me to talk to you to see if it sounds ok.  Give me a call when you get a
chance.


Helen,

I forwarded your message to my associate Stinson Gibner
whom I can wholeheartedly recommend.

Vince

"Helen Evans" <helen@risk.co.uk> on 12/06/99 10:29:39 AM
Please respond to "Helen Evans" <helen@risk.co.uk>
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: New EPRM Speakers

Vince,

I'm currently looking to broaden EPRM's speaker base and would like to find a
speaker for a training course I am producing on the Monte Carlo technique. I
was wondering if you might be able to recommend somebody new from Enron who
might like to speak on this subject. I'd really appreciate any help you could
give me.

Many Thanks

Helen Evans
Producer, EPRM Conferences & Courses
 - att1.htm


Vince,

We would like to continue to receive the IIF service for a cost to the
Research Group of $15,000 per annum.  Can I ask you to approve this charge?
Please let me know if you'd like to discuss.  We decided to cancel the Oxford
Analytica service (daily country briefs and access to the website) as we are
getting consensus forecasts for FX and inflation from another source, so we
will not be subject to the $10,000 fee referenced below.

Thanks,

Gwyn

---------------------- Forwarded by Gwyn Koepke/NA/Enron on 02/13/2001 01:55
PM ---------------------------

Robert Johnston@ECT
02/13/2001 09:46 AM
To: Maureen Raymond/HOU/ECT@ECT, Gwyn Koepke/NA/Enron@Enron
cc: Scott Tholan/Corp/Enron@Enron

Subject: IIF/OxAn

Hi Maureen and Gwyn-

On the Oxford Analytica front, I'm glad you have found the service useful.
Our contract with them has expired and we are currently negotiating for more
users to have access.  Our current contract is for $50K or $10K per user per
year.  We can charge $10K back to you.

On the IIF front, the invoice for $47K is due at the end of the month.  Here
I would propose that we pay two thirds (to cover our costs and the costs of
our Competitive Analysis colleagues in London), leaving $15K for you to cover.

Since we took on these services last year, we have expanded our range of
sources and projects and are consequently trying to do more with less. Thus I
need to allocate some of our costs from OxAn and IIF to other projects.

Let me know what you think about this proposal.  Maureen, congratulations on
your secondment to Enron Metals (Gwyn mentioned it to me).  FYI, our
colleague Jim Roth is providing Competitive Analysis support to Joe Gold and
John Sherriff on that project from London.

RJ


I thought you might find the attached article of interest.  The article
notes that Jose Mendoza Fernandez sold Bufete Industrial to Sergio Bolaos
Quezada of Grupo Serbo for a mere $1,000 pesos!

 <<R E F O R M A - Venden en mil pesos Bufete Industrial.htm>>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
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 - R E F O R M A - Venden en mil pesos Bufete Industrial.htm


Please call Sheila and let her know we've made some progress with GE.  Please
see if there is time she wants to talk prior to 300 CST.

Thanks,

Kay


Zimin,

Can you call Cantekin to discuss the details?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 09/19/2000
08:44 AM ---------------------------

Vince J Kaminski
09/18/2000 05:50 PM
To: <cantekin@mail.utexas.edu>
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: part-time work

Cantekin,

I shall call you tomorrow to discuss the details.

Vince

"Cantekin Dincerler" <cantekin@mail.utexas.edu> on 09/18/2000 02:59:41 PM
Please respond to <cantekin@mail.utexas.edu>
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: part-time work

Hi Vince,

I promised to get back to you on the part-time work issue. Sorry for the
delay, I got back to Austin only last week. I talked to Ehud about this and
he is OK with it. Just wanted to let you know.

Best,

 ---------oOOo-----oOOo----------
Cantekin Dincerler

Doctoral Candidate
The University of Texas at Austin
Graduate School of Business
Department of Finance
office: (512) 471-1676
fax   : (512) 471-5073
home  : (512) 472-5356
cell  : (512) 680-5355
http://uts.cc.utexas.edu/~cantekin
 -------------oooO-----Oooo----------


I've redlined the document against the previous version, but I don't think I
picked up all the changes.  In addition to the marked changes, there are
these changes:

D.  third line, added "Original" before LM6000.  This change is made
throughout the document.
D. pentultimate line, replaced EECC with ENA.
Dated everything December 15; added "with respect to the Subject LM6000
Turbines after "Original Turbine Contract" throughout
E.  Added "and" between rights obligations in (iii)
2 (c) Added the Pastoria One-Train Turbine Contract in (ii) and (iii).

Kay

Kay Mann
12/08/2000 12:15 PM
To: michael.barnas@ps.ge.com, kent.shoemaker@ae.ge.com
cc: Roseann Engeldorf/Corp/Enron@ENRON

Subject: Winston & Strawn Comment: Consents to Assignment

OK with you guys for me to add this?
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/08/2000 12:13
PM ---------------------------

"Taylor, Rob" <robtaylor@akllp.com> on 12/08/2000 12:12:37 PM
To: "Roseann M Engeldorf (E-mail)" <Roseann.Engeldorf@enron.com>, "Kay Mann
(E-mail)" <kay.mann@enron.com>, "Sheila Tweed (E-mail)"
<Sheila.Tweed@enron.com>, "Lisa Bills (E-mail)" <Lisa.Bills@enron.com>
cc: "Bunk, Sean" <seanbunk@akllp.com>

Subject: Winston & Strawn Comment: Consents to Assignment

Winston & Strawn has asked that the following be added to the Consents
to Assignment (e.g., in the "Successors and Assigns" paragraph):

"WestLB is an express third-party beneficiary of this Consent."

Please forward the revised draft of the GE Consent to Winston & Strawn
(toxley@winston.com).

Regards,

Rob Taylor
Andrews & Kurth L.L.P.
600 Travis Street
Suite 4200
Houston, Texas  77002

Tel: (713) 220-4436
Fax: (713) 238-7273
e-mail: robtaylor@andrews-kurth.com

This e-mail is privileged and confidential and is intended only for the
recipient(s) named above.  If you are not the intended recipient, please
(i) do not read, copy, use or disclose the contents hereof to others
(any of the foregoing being strictly prohibited), (ii) notify the sender
immediately of your receipt hereof, and (iii) delete this e-mail and all
copies of it.


much grass

From: Kathleen Carnahan/ENRON@enronXgate on 06/01/2001 04:11 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Blue Dog

Marisa has the Cert of Incumbency and signature page (3 originals) of the
Escrow Agreement.

Kathleen Carnahan
Enron North  America Corp.
1400 Smith Street, EB 3146d
Houston, TX 77002
Phone - (713) 345-3386
Fax - (713) 646-3037


Bob and Sara -

 As we discussed, I enclose the cover page from the lengthy CFTC
policy paper relating to regulation of Ag Options.  This paper was never
approved by the full Commission and does not represent CFTC policy.  I also
enclose:

 (i) An outline of the application for designation as a contract
market (a recent example is the application of BrokerTec Futures Exchange
LLC, published at 65 F.R. 36667 (June 9, 2000));

 (ii) Excerpts from a report by the General Accounting Office
discussing issues relating to the reauthorization of the CFTC (May 1999).
(This represents much of the seed work for S. 2679 and deals with certain of
the issues we discussed yesterday.); and

 (iii) Introductory notes to CFTC revisions to its Rules relating
to agricultural trade options (December 6, 1999).

The exemption we discussed was for an entity called SwapClear, referred to
in the GAO report.  During one of our conversations, Bob referred to
multilateral transaction execution facilities.  The Commission has proposed
regulations on this subject.  They are reported at 65 F.R. 38985 (June 22,
2000) (CCH Commodity Futures Law Reporter paragraph 28,153).

Regards.

- Larry

 <<~att341.uni>>

 - ~att341.uni

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

This e-mail is sent by a law firm and may contain information that is
privileged or confidential.  If you are not the intended recipient, please
delete the e-mail and any attachments and notify us immediately.


I don't want mark to market I want accrual.

 -----Original Message-----
From: 	Ishikawa, Guy
Sent:	Wednesday, May 23, 2001 7:55 AM
To:	Lavorato, John
Cc:	Kishkill, Joe; Collonges, Remi; Wiggs, Brett; Cunha, Ricardo; Mucci, Ricardo
Subject:	New Petrobr?s MTM Sensitivity

John,

Please, see attached MTM sensitivity for Petrobr?s deal (flat curve from R$ 0 / MWh to R$ 600 / MWh).

Regards,
Guy Ishikawa

 << File: PB MTM Sensit (May 23, 2001).ppt >>


Oh yeah, and by the way here are the rankings . . .

http://louisianastate.rivals.com/default.asp?sid=40&p=58&sp=1
---------------------- Forwarded by Eric Bass/HOU/ECT on 01/03/2001 04:06 PM
---------------------------

	Enron North America Corp.

	From:  Eric Bass                           01/03/2001 04:06 PM

To: Timothy Blanchard/HOU/EES@EES
cc: Matthew Lenhart/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Chad
Landry/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
Subject: Re: FW: Big commitment

Wilkerson is the number 3 prospect in the country at lineman behind Johnathon
Scott a commitment of guess who - Texas.

http://louisianastate.rivals.com/default.asp?sid=40&p=3&sp=1&pl=-13604
                      Wilkerson
http://longhornlink.rivals.com/default.asp?sid=798&p=3&sp=1&pl=-12695
                           Scott

To: Eric Bass/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
cc:
Subject: FW: Big commitment

Raiding Texas baby!
---------------------- Forwarded by Timothy Blanchard/HOU/EES on 01/03/2001
03:44 PM ---------------------------

David Fontana
01/03/2001 03:42 PM
To: Timothy Blanchard/HOU/EES@EES
cc:
Subject: FW: Big commitment

Go Tigers!!!!!!!!!!
---------------------- Forwarded by David Fontana/HOU/EES on 01/03/2001 03:42
PM ---------------------------

ZamettoM@gtlaw.com on 01/03/2001 03:36:50 PM
To: David.Fontana@enron.com, Alex_Dmytraczenko@radian.com,
Mark_Locke2@es.adp.com
cc:
Subject: FW: Big commitment

-----Original Message-----
From: Scott Cullen [mailto:scullen@dwyercambre.com]
Sent: Wednesday, January 03, 2001 4:22 PM
To: Turner (E-mail); Bras (E-mail); Mark Zametto (E-mail)
Subject: Big commitment

We got a huge commitment today from big Ben Wilkerson, center out of
Hemphill, TX.  He is rated by Rivals as the #1 lineman prospect in the
country, and it is very rare for a center to rate so high on their list.
They keep rolling in; Marcus Spears is expected to announce on Friday.

This e-mail contains information that is confidential/privileged or both.
This information is intended only for the use of the individual or entity
named on this e-mail transmission.  Any disclosure, copying, distribution or
use of this information by any person other than the intended recipient is
prohibited.  If you have received this e-mail in error, please destroy
immediatley and contact sender.


Hi again,

I checked my maps of DC, and it looks like the Hotel Washington might be a
good alternative.  Could you see what they have for Mon/Tues night?  Also,
please check back with the Willard to see if they have had any cancellations.

Could you email me your telephone number and the afterhours number?

Due to the shortage of time, please call me with any information you might
have.  I should be in my office from 830 until 930.  Ex 57566  If I'm not
there, I'll be checking messages.

Thanks,

Kay

Diane Fitzgerald <diane.fitzgerald@travelpark.com> on 08/04/2000 04:08:27 PM
To: "'KAY.MANN@ENRON.COM'" <KAY.MANN@ENRON.COM>
cc:

Subject: Please review your following upgraded itinerary. Have a nice tri p!

                                          MANN/C KAY
                                          ATTN SUZANNE ADAMS
                                          713 853-7340
  ENRON CORP                  3AC SUITE 400

  DATE:  AUG 04 2000

SERVICE               DATE  FROM           TO             DEPART  ARRIVE

CONTINENTAL AIRLINES  07AUG HOUSTON        WASHINGTON     1053A   0252P
CO 1460    A          MON   G.BUSH INTERCO R REAGAN NAT
                            TERMINAL C     TERMINAL B
                            LUNCH                         NON STOP
                            RESERVATION CONFIRMED         2:59 DURATION
                  AIRCRAFT: BOEING 737-500
                            SEAT 03B NO SMOKING CONFIRMED MANN/C KAY(IDS8
                    FIRST CLASS UPGRADE IS CONFIRMED.

HOTEL                 07AUG FOUR SEASONS WASHINGTON
                      09AUG 2800 PENNSYLVANIA AVENUE NW
                             WASHINGTON, DC 20007
                            UNITED STATES OF AMERICA
                            TELEPHONE: 202-342-0444
                            FAX: 202-944-2076
                            TELEX: 904008
                            CONFIRMATION: 89115111
                            SINGLE KING SIZE BED
                            RATE: COR USD 305.00 PER NIGHT
                            GUARANTEE GIVEN
                            CANCELLATION POLICY: REQUIRES CANCEL BY 6PM
                            DAY OF ARRIVAL
                            ENRON CORP RQST NONSMKG
     TO AVOID NO SHOW BILLING. CANCEL 6PM HOTEL TIME DAY OF ARRIVAL

CONTINENTAL AIRLINES  09AUG WASHINGTON     HOUSTON        1130A   0133P
CO 1837    A          WED   R REAGAN NAT   G.BUSH INTERCO
                            TERMINAL B     TERMINAL C
                            LUNCH                         NON STOP

                            RESERVATION CONFIRMED         3:03 DURATION
                  AIRCRAFT: BOEING 737-300
                            SEAT 03B NO SMOKING CONFIRMED MANN/C KAY(IDS8
                    FIRST CLASS UPGRADE IS CONFIRMED.

MISCELLANEOUS         08OCT HOUSTON
                      SUN   ** THANK YOU FOR USING THE TAP **

MANN/C KAY(IDS8C061MR102049)

CO  FREQUENT FLYER COHG770475
LIL BAILEY 345-6275
INTL TVLRS: CARRY SOS WALLET CARD W/ENRONASSISTANCE INFO
CALL SOS: IN U.S 800 523-6586/INTL 215 245-4707 (COLLECT)
*******************************************
THIS IS THE PASSENGER RECEIPT FOR YOUR ELECTRONIC TICKET.
PLEASE CHECK-IN WITH PHOTO IDENTIFICATION AND WITH
EITHER (1) THIS RECEIPT OR (2) YOUR CONFIRMATION NUMBER.
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YOUR ETKT CONFIRMATION NUMBER IS: O 2 G 5 D 5


Enron Troubles Only the Tip of the Iceberg?
TheStreet.com, 10/26/2001

Under the Radar: Enron's Flickering Bulb
TheStreet.com, 10/26/2001

DJ Enron Unit,New England Market Downplay Report Of Default
Dow Jones, 10/26/2001

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
Bloomberg, 10/26/01

Enron Executives Sent Requests for Details of Affiliate Profits
Bloomberg, 10/26/01

Enron Still Target in California Amid Other Problems (Update1)
Bloomberg, 10/26/01

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
Bloomberg, 10/26/01

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees
Business Wire, 10/26/01

Enron Troubles Only the Tip of the Iceberg?
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
TheStreet.com
10/26/2001 05:23 PM EDT
URL: <http://www.thestreet.com/markets/detox/10003083.html>

Dealings with a related party have tarnished Enron's (ENE:NYSE - news - commentary) reputation and crushed its stock, but it looks like that case is far from unique.
The battered energy trader has done business with at least 15 other related entities, according to documents supplied by lawyers for people suing Enron. Moreover, Enron's new CFO, who has been portrayed by bulls as opposing the related-party dealings of his predecessor, serves on 12 of these entities. And Enron board members are listed as having directorships and other roles at a Houston-based related entity called ES Power 3.
The extent of Enron's dealings with these companies, or the value of its holdings in them, couldn't be immediately determined. But the existence of these partnerships could feed investors' fears that Enron has billions of dollars of liabilities that don't show up on its balance sheet. If that's so, the company's financial strength and growth prospects could be much less than has generally been assumed on Wall Street, where the company was long treated with kid gloves.
Enron didn't immediately respond to questions seeking details about ES Power or about the role of the chief financial officer, Jeff McMahon, in the various entities. Enron's board members couldn't immediately be reached for comment.
Ten Long Days
Enron's previous CFO, Andrew Fastow, was replaced by McMahon Wednesday after investors criticized Fastow's role in a partnership called LJM, which had done complex hedging transactions with Enron. As details of this deal and two others emerged, Enron stock cratered.
The turmoil that resulted in Fastow's departure began two weeks ago, when Enron reported third-quarter earnings that met estimates. However, the company failed to disclose in its earnings press release a $1.2 billion charge to equity related to unwinding the LJM transactions. Since then, investors and analysts have been calling with increasing vehemence for the company to divulge full details of its business dealings with other related entities. Enron stock sank 6% Friday, meaning it has lost 56% of its value in just two weeks.
Enron's End Run?
New financial chief's involvement in Enron business partners
Enron-Related Entity	Creation DateMcMahon Involved?

ECT Strategic Value Corp.4/18/1985	Yes
JILP-LP Inc.	9/27/1995	Yes
ECT Investments Inc.	3/1/1996	Yes
Kenobe Inc.	11/8/1996	Yes
Enserco LLC	1/7/1997	Yes
Obi-1 Holdings LLC	1/7/1997	Yes
Oilfield Business Investments1/7/1997	Yes
HGK Enterprises LP Inc.	7/29/1997	Yes
ECT Eocene Enterprises III Inc.2/20/1998Yes
Jedi Capital II LLC	9/4/1998	Yes
E.C.T. Coal Company No. 12/31/1998	Yes
ES Power 3 LLC	1/7/1999	Yes
Enserco Inc.	3/25/1999	No
LJM Management LLC	7/2/1999	No
Blue Heron I LLC	9/17/1999	No
Whitewing Management LLC2/28/2000	No
Jedi Capital II LLC	4/16/2001	No
Source: Detox
However, Enron has yet to break out a full list of related entities. The company has said nothing publicly about McMahon's participation in related entities, nor has it mentioned that its board members were directors or senior officers in ES Power 3. (Nor has it explained the extensive use of Star Wars-related names by the related-party companies.) It's not immediately clear what ES Power 3 is or does. So far, subpoenas issued by lawyers suing Enron have determined the names of senior officers of ES Power 3 and its formation date, January 1999.
Among ES Power 3's senior executives are Enron CEO Ken Lay, listed as a director, and McMahon and Fastow, listed as executive vice presidents. A raft of external directors are named as ES Power 3 directors, including Comdisco CEO Norman Blake and Ronnie Chan, chairman of the Hong Kong-based Hang Lung Group. A Comdisco spokeswoman says Blake isn't commenting on matters concerning Enron and a call to the Hang Lung group wasn't immediately returned.
Demands, Demands
Rating agencies Moody's, Fitch and S&P recently put Enron's credit rating on review for a possible downgrade after an LJM deal that led to the $1.2 billion hit to equity. Enron still has a rating three notches above investment grade. But its bonds trade with a yield generally seen on subinvestment grade, or junk, bonds, suggesting the market believes downgrades are likely.
If Enron's rating drops below investment grade, it must find cash or issue stock to pay off at least $3.4 billion in off-balance sheet obligations. In addition, many of its swap agreements contain provisions that demand immediate cash settlement if its rating goes below investment grade.
Friday, the company drew down $3 billion from credit lines to pay off commercial paper obligations. Raising cash in the CP market could be tough when investors are jittery about Enron's condition.
This week, a number of energy market players reduced exposure to Enron. However, in a Friday press release, CEO Lay said that Enron was the "market-maker of choice in wholesale gas and power markets." He added: "It is evident that our customers view Enron as the major liquidity source of the global energy markets."
McMahon reportedly objected to Fastow's role in LJM, allegedly believing it posed Fastow with a conflict of interests. But he will need to convince investors that the 12 entities he's connected to don't do the same. Enron has said that its board fully approved of the LJM deals that Fastow was involved in. Now, board members will have to comment on their own roles in a related entity.

Under The Radar: Enron's Flickering Bulb
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
10/26/2001 05:08 PM EDT
URL: <http://www.thestreet.com/comment/chrisedmonds/10003075.html>

While the bulb at Enron (ENE:NYSE - news - commentary) may not have burnt out, it's clearly flickering. To date, investors aren't sure whether Chairman and CEO Ken Lay is up to the task of re-energizing the company he once built to greatness.
What's happened at the Houston energy giant-turned-dwarf could've been imagined with any number of ne'er-do-well companies during the well-chronicled bubble. But this is Enron. As one longtime Enron bull and shareholder said, "I never had to worry about Enron's ability to survive until this week. I still find it hard to believe."
Peter Eavis has done an exceptional job of chronicling Enron's adventures for some time. If you'd listened to him earlier this year, you'd have profited from his knowledge. His reporting on Enron's partnership shenanigans to the departure of Chief Financial Officer Andrew Fastow has been outstanding.
The rumors -- from a pending bankruptcy to a Justice Department investigation -- are, for now, just that. And, Enron did not single-handedly cause the California power crisis, nor is Royal Dutch/Shell (RD:NYSE - news - commentary) about to make a bid to buy the company. Sources do tell me that head-count reductions are likely through employee buyout offers and the company is set to refocus on its core energy business. And, while former CEO Jeff Skilling shares culpability for the current mess, his departure appears only indirectly related to Enron's current woes.
Now, Enron faces the daunting challenge of rebuilding both its business and, more importantly, its reputation.
The Company's Challenge
But what does Enron do now? It's very simple. Come clean, clean up the mess and refocus on its core business: wholesale energy markets, risk management and retail energy services. They support each other and create a platform that can be plenty profitable without a lot of gimmicks.
"Our gut feel is that Enron can pull it off, and long-term investors should hold firm, as eventually the stock gets valued on earnings, with upside potential to $25 per share over the next 12-18 months," says Jeff Dietert, power analyst at Simmons & Co. and a member of the TSC Energy Roundtable. "We believe new money with high risk tolerance should wait until Enron announces its intentions for communicating a clear path to recovery."
Dietert outlines four challenges for Enron. One, management must regain the Street's confidence and persuade investors that it can resolve balance-sheet strength and generate the expected earnings and cash flow. Two, Enron must maintain its investment-grade credit rating. Three, Enron must successfully execute its divestiture plans. Four, Enron must control the timing of the recognition of the write-down in the value of any assets where market value is less than book.
Straightforward? Yes. Easy to accomplish? No.
Although Enron says additional write-downs are unlikely -- except a $200 million charge early next year as the result of an accounting change -- analysts aren't so sure. They're focused on the company's Global Assets portfolio, sporting $6 billion in book value but generating an EBIT (earnings before interest and taxes) loss of $18 million over the past 12 months.
The divestitures include $390 million in exploration and production assets in India, $250 million in a Puerto Rico power plant and $250 million in a Brazilian power plant in the fourth quarter as well as the pending sale of Portland General, which is set to close in 2002. There will likely be others. However, Enron has to execute here, and given the current state of its affairs, the seller will feel the pressure.
The credit-rating issue is a fine line. The current ratings, BBB+ from Standard & Poor's and Baa1 from Moody's, are three levels above non-investment grade. However, both rating agencies now have Enron on their radar screens for possible downgrades. Dietert estimates that Enron's debt-to-market cap will be about 48% by year-end, and the company has interest coverage (EBITDA/ interest expense) of about 3.5 times. By comparison, the average S&P BBB-rated company has a debt-to-cap of 47.4% and interest coverage of about 6.1 times. The average BB company has debt-to-cap of 61.3% and interest expense of 3.8 times.
Frankly, everything falls on Enron's management team and its ability to reassure investors. "If Enron's management does not step up to calm investor fears, these fears could become a self-fulfilling prophecy," Dietert says. "In the potentially vicious cycle, investor fears could drive stocks down; the lower stock prices force the rating agencies to consider downgrades; potentially lower credit ratings force counter-parties to reduce exposure to Enron, limiting Enron's ability to generate earnings and cash flow."
It's time for Enron to grow up. Despite a lot of uncertainties and risk, I think it will. Investors with risk capital should do their homework on the stock and think about strategy. It's a tough call that requires strict, individual discipline.
There's an irony to this whole story, especially in Enron's lack of candor in reporting its financial results. In a much-lauded advertising campaign, Enron, looking to challenge conventional wisdom, asks the simple question, "Why? Ask why."
Investors are now asking. It's time for Ken Lay to answer.
First Things First
Many readers have asked about my relative quietness this week. Thank you for your concern. My father has fallen ill after fighting the effects of a brain tumor for more than a decade.
The choice was easy. I'm with him and my family.
Enjoy your weekend with family and friends.

DJ Enron Unit,New England Market Downplay Report Of Default
2001-10-26 17:14 (New York)

   By Kristen McNamara
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Enron Corp.'s (ENE) retail sales unit defaulted on its
credit requirement in New England's wholesale power market this month, but the
event was neither unique nor newsworthy, the energy company and the
organization that developed the market's rules said Friday.

  The operator of the region's wholesale power market informed Enron Energy
Services last week that, for the third time in 12 months, it had traded a
greater volume of electricity than allowed by the bond it had posted and was at
risk for expulsion from New England's market.

  But it was administrative mixups, rather than financial problems, that
triggered the warning, which a few other companies have also received in the
past, the market's rulemaker said.

  "I can state with considerable confidence that there have been other
participants" that have defaulted on their credit agreements, "and it's never
been in the news," said David Doot, secretary and general counsel for the New
England Power Pool, which developed the policies governing the region's
electricity market. "My instinct is that this is blown way the hell out of
proportion."

  News of the Enron unit's default appeared in a trade publication and a major
metropolitan newspaper this week, as Enron's dealings with partnerships headed
by its former chief financial officer contributed to a plunge in the company's
stock and bond prices.

  Enron Energy Services never received word that it had defaulted on its
bonding requirement twice before, because both times it corrected the problem
within a day, spokeswoman Peggy Mahoney said.

  The letter sent by ISO New England, which operates the region's power market,
to notify the Enron unit of its third violation was addressed to the wrong
person, delaying the company's response, Mahoney said.

  "Clearly, it was an administrative error that we immediately took care of to
ensure that we would never exceed the volume limit," Mahoney said.

  The company resolved the problem by Oct. 19, Mahoney said. ISO New England
spokeswoman Ellen Foley confirmed Friday that the company had cured its
default.

  It's rare for a company to default three times, but it has happened on
occasion, Foley and Doot said.

  "I won't say it's commonplace, but I won't say it's unusual for a participant
to find itself out of compliance," Doot said. "Those things have in fact
happened from time to time."

  -By Kristen McNamara, Dow Jones Newswires; 201-938-2061;

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
2001-10-26 16:47 (New York)

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN

     Houston, Oct. 26 (Bloomberg) -- Enron Corp.'s lawsuit
alleging Microsoft breached a contract for broadband services
could temporarily block the largest software company's high-speed
Internet service in some U.S. regions.

     Microsoft said the dispute temporarily blocks the company
from providing the high-speed service in areas where Enron
provides broadband access, leaving MSN fully operational only in
the 14 states where Qwest Communications International Inc.
operates, said Bob Visse, director of marketing for MSN.

     Enron's lawsuit was filed yesterday. Microsoft had planned to
offer fast Internet access in 45 cities beginning yesterday to
give the largest software company access to potential customers in
29 million homes. Microsoft, the No. 2 U.S. Internet provider, is
making a push to win customers from AOL Time Warner Inc.

     ``We are trying to resolve the issues with Enron as quickly
as possible and at the same time we are evaluating other
providers,'' Visse said.

     Officials at Houston-based Enron, the largest energy trader,
did not immediately return calls for comment.

                         The Agreement

     Enron in June signed an agreement with Microsoft to provide
bandwidth for MSN Internet service. Under the agreement, Enron
isn't required to deliver operational broadband services if
Microsoft hasn't first provided a billing and ordering system, Dow
Jones newswire reported.

     Enron claims in its lawsuit that Microsoft failed to deliver
the ordering and billing system required in the initial phase of
the deal, Dow reported.

     Enron's lawsuit comes after Microsoft said in an Oct. 23
letter that Enron will have breached the contract if it hasn't
provided an operational bandwidth system by Oct. 25, allowing
Microsoft to recover damages.

     Shares of Redmond, Washington-based Microsoft fell 36 cents
to $62.20, while Enron shares fell 95 cents to $15.40.

--Joyzelle Davis in Los Angeles (213) 617-0582, or

Enron Executives Sent Requests for Details of Affiliate Profits
2001-10-26 15:36 (New York)

Enron Executives Sent Requests for Details of Affiliate Profits

     Houston, Oct. 26 (Bloomberg) -- Lawyers for a shareholder
suing Enron Corp. are asking executives of the largest energy
trader to disclose any income they made from their involvement
with affiliated companies that bought and sold Enron assets.

     Lawyers have made the requests to President Greg Whalley,
Vice Chairman Mark Frevert and Chief Financial Officer Jeff
McMahon and 83 other employees arrived at Enron's Houston offices
this week, said Paul Paradis, a partner in the New York law firm
Abbey Gardy. Requests also were sent to 17 Enron partnerships such
as Whitewing Management and Marlin Water.

     Paradis represents Fred Greenberg, an Enron shareholder who
is suing the company's board for allowing former Chief Financial
Officer Andrew Fastow to run partnerships that cost the company at
least $35 million in cash and $1.2 billion in lost shareholder
equity.

     The requests are aimed at determining if Enron executives
benefited financially from roles as officers and directors of
partnerships that bought and sold company assets. Enron formed at
least 18 such affiliated companies, listing executives and
employees as officers and directors of the partnerships, according
to Texas secretary of state records.

     Under Texas law, failure to respond to the document requests
will result in subpoenas being issued. Subpoenas could go out next
week if responses don't arrive by then, Paradis said. Enron
spokeswoman Karen Denne didn't respond to requests for comment
about the document requests.

     The executives earned no income from the partnerships, Enron
spokesman Mark Palmer has said. ``There are no financial interests
in the structures themselves for any Enron employee,'' Palmer
said. He said it's common for a company to name its executives to
the boards of affiliates.

                       Affiliates Have Debts

     Texas records show Chief Executive Officer Kenneth Lay,
Frevert, Whalley, McMahon and dozens of other people who list
their address as Enron's corporate headquarters serving as
officers and directors of limited liability companies and foreign
business corporations.

     The document requests ask Enron executives for information on
any form of compensation or benefit received from any of the
affiliates, including stock grants and options. They also ask the
executives to disclose any equity or partnership interests in the
affiliates.

     Enron formed many of the affiliates to buy company assets
such as power plants and natural-gas pipelines. That allowed Enron
to move debt associated with those projects off its books.

     The affiliates bought the assets with borrowed money. They
plan to repay the debt by eventually selling the assets. Enron
might be liable for any shortfall between the sales proceeds and
the debt. That could amount to at least $3.3 billion if the assets
don't generate any money, a remote possibility, the company has
said.

                            Few Answers

     Investors and analysts pressed Enron Chief Executive Officer
Kenneth Lay for details on the finances of the partnerships in a
conference call Tuesday.

     Today, Enron spokeswoman Karen Denne didn't respond to
questions about one of them, ES Power 3 LLC.

     Texas records list 78 Enron executives and employees as
officers, directors and managers of ES Power 3 LLC. The entire
Enron board is also listed.

     Shares of Enron $1.15 to $15.20 in late trading.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Enron Still Target in California Amid Other Problems (Update1)
2001-10-26 16:15 (New York)

Enron Still Target in California Amid Other Problems (Update1)

     (Updates with closing share price in last paragraph.)

     Sacramento, California, Oct. 26 (Bloomberg) -- Enron Corp.,
facing an inquiry by federal securities regulators into
partnerships run by the former chief financial officer, remains a
target of investigations and lawsuits in California.

     California lawmakers and regulators have accused power
providers of manipulating the state's energy market to raise
prices. Enron, the biggest energy trader, and other power sellers
have denied the charges repeatedly.

     Next month, a California Senate committee investigating the
power market plans to hold a hearing to determine if Enron and
other generators are complying with subpoenas for trading
documents. Enron has been filing documents in Sacramento,
California.

     ``They are still putting documents in their depository, and I
don't think they've completed that process,'' said Alexandra
Montgomery, a consultant to the committee. It ``remains to be
seen'' whether Enron is complying with its subpoena, she said.

     The suits and inquiries came after wholesale power prices in
California soared, leaving the state's two largest utilities
insolvent. Under California's plan to open its electricity market
to competition, the utilities of PG&E Corp. and Edison
International weren't allowed to pass rising costs to customers.

     ``I know that we're doing our best to comply with what the
committee is asking for,'' Enron spokesman Mark Palmer. ``We are
putting documents in the depository, and we're looking forward to
a speedy resolution.''

     Shares of Houston-based Enron have fallen by more than half
since Oct. 16. The company ousted Andrew Fastow as the chief
financial officer Wednesday amid a U.S. Securities and Exchange
Commission inquiry into a partnership he ran that cost Enron $35
million.

                            Grand Jury

     Enron also is one of the companies being investigated for
civil and criminal violations by California Attorney General Bill
Lockyer, who convened a grand jury in June.

     Lockyer has been criticized by Enron officials for telling
the Wall Street Journal in May that he would like to put Enron
Chairman Kenneth Lay in ``an 8 x 10 cell that he could share with
a tattooed dude who says `Hi my name is Spike, honey.' '' Lockyer
later apologized for the remark.

     The attorney general's investigation is proceeding, Lockyer
spokeswoman Sandra Michioku said. Michioku said she didn't know
when civil or criminal charges against Enron or other power
providers might be filed.

     ``Our investigation is still being pursued,'' she said. ``We
had to go to court to get Enron to turn over documents, so that
slowed things down a bit.''

     Enron's Palmer said he didn't know the status of the attorney
general's investigation.

     ``I think the attorney general demonstrated his willingness
to take a fair and impartial look a long time ago when he made his
vulgar and unfounded remarks about our chairman,'' Palmer said.

                           More Lawsuits

     Enron, along with other major power providers such as Duke
Energy Corp. and Dynegy Inc., face at least five lawsuits alleging
they manipulated California energy prices in violation of
antitrust laws.

     The cases, which include separate complaints filed by the
City of San Francisco, California Lieutenant Governor Cruz
Bustamante and various consumers, currently are in state courts
awaiting a coordination proceeding, said Michael Aguirre, a lawyer
representing Bustamante. The lawsuits should be assigned to a
judge by the end of next month, he said.

     If the complaints succeed, the companies might be ordered to
repay profits from any illegal activities and pay fines, including
triple damages.

     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,
declining for the eighth day in a row. The shares have fallen 80
percent in the past 12 months.

--Daniel Taub in Los Angeles, (323) 801-1261 or

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
2001-10-26 16:18 (New York)

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)

     (Adds investor comment in fourth paragraph.)

     Houston, Oct. 26 (Bloomberg) -- Enron Corp. bonds and shares
fell after the largest energy trader tapped a $3 billion credit
line because it has been shut out of the leading market for low-
interest, short-term loans.

     The company's stock has fallen 54 percent in the past 14 days
after investors questioned its transactions with affiliates run by
Enron's former chief financial officer. The shares fell 95 cents,
or 5.8 percent, to $15.40 today.

     Chief Executive Officer Kenneth Lay has failed to reassure
investors that the company's credit rating won't be cut, investors
said. Enron can no longer borrow in commercial paper markets,
where short-term loans carry lower rates than banks offer.

     ``Do they have the financial flexibility they once had? No,''
said John Cassady, who helps manage $3 billion in bonds at Fifth
Third Bancorp. ``People are questioning the credibility of
management.''

      The company will use its credit line to pay off $2.2 billion
in commercial paper it has outstanding, Enron spokesman Mark
Palmer said.

                            Bonds Drop

     Enron's 6 3/4 percent bonds, which mature in 2009, declined 1
1/2 points to a bid of 84 cents on the dollar and an offer of 86
cents. At that price, the bonds, which carry a rating of ``BBB+,''
yield 9.53 percent.

     Investors have grown concerned that the company's credit
rating will be cut after $1.01 billion in third-quarter losses
from failed investments. Enron needs good credit to raise cash
daily to keep trading partners from demanding collateral and to
settle transactions.

     Enron's decision to tap its credit line was ``a smart
financial move,'' said Stephen Moore, a vice president at Moody's
Investors Service who follows the company. ``It took away the
hassle and time-consuming nature of rolling commercial paper and
insured access to capital.''

     Though Enron's bonds have investment-grade ratings, their
yield at current prices is higher than those of industrial bonds
that carry junk ratings. According to Bloomberg data, companies
with ``BB'' ratings pay on average 9.16 percent to borrow for
seven years.

     A lower credit rating may also force Enron to buy back
holdings in other partnerships with its stock, diluting the value
of Enron investors' stock.

     Partnerships called Whitewing, Marlin and Yosemite own Enron
assets they bought with borrowed money. Enron sold the assets to
the partnerships to keep related debt off its books. The
partnerships plan to repay the borrowed money by selling the
assets.

                         Other Liabilities

     If Enron loses investment-grade rating, the borrowed money
comes due earlier, leaving less time for the partnerships to find
the best price for the power plants and other assets. Enron would
have to make up any shortfall between what the assets would sell
for and the amount of the debt.

     One way would be issuing common shares to exchange for Enron
preferred convertible shares held by the partnerships. That would
thin out the holdings of every other investor.

     Of the two main bond-rating companies, Moody's and Fitch have
Enron on watch for possible downgrade, and Standard & Poor's
lowered Enron's long-term credit outlook to negative. Egan-Jones
Rating Co. today lowered its rating on Enron's debt to ``BB+,''
one notch below investment grade, from ``BBB-.''

     Enron's liabilities associated with the partnerships amount
to at least $3.3 billion, the company has said.

     Enron ousted Chief Financial Officer Andrew Fastow on
Wednesday amid a Securities and Exchange Commission inquiry into a
partnership he ran that cost the company $35 million in direct
losses. Enron also bought back 62 million shares from the
partnership, reducing shareholder equity by $1.2 billion.

     ``It looks like the guy who was supposed to do everything for
the benefit of shareholders was running partnerships for the
benefit of himself,'' Fifth Third's Cassady said.

     Jeff McMahon, head of Enron's industrial markets group, was
named CFO in a bid to restore investor confidence, Lay said in a
statement.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees

10/26/2001
Business Wire
(Copyright (c) 2001, Business Wire)

SEATTLE--(BUSINESS WIRE)--Oct. 26, 2001--Seattle's Keller Rohrback L.L.P. is currently investigating potential ERISA claims on behalf of participants and beneficiaries of Enron's retirement and 401(k) plans.
The investigation period covers January 2000 through October 2001. The investigation focuses on concerns that, under the law interpreting ERISA, Enron and its plan administrators may have breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, it may be alleged that Enron and the plan administrators may have withheld and concealed material information, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in company stock and the Plans. This investigation is being conducted in light of recent events.
On Oct. 16, 2001, Enron surprised the market when it announced that the Company was taking "non-recurring charges totaling $1.01 billion after-tax, or ($1.11) loss per diluted share," in the third quarter of 2001. Enron later revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships, controlled by Enron's CFO, and that the Company would be eliminating more than $1 billion in shareholder equity as a result of its unwinding of the investments. As this news began to be assimilated by the market, the price of Enron common stock dropped significantly. In addition, several recently filed securities suits allege that Enron executives engaged in extensive insider trading, gaining millions of dollars in personal proceeds. Enron retirees have lost a substantial portion of their retirement earnings due to the drop in value of their retirement assets.
If you are a member of an Enron retirement plan, wish to discuss this announcement, or have information relevant to the investigation, you may contact paralegal Liza Catabay, or any member of our team (Britt Tinglum, Liza Catabay, or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Seattle's Keller Rohrback L.L.P. has successfully represented shareholders and consumers in class action cases for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Liza Catabay, 800/776-6044 investor@kellerrohrback.com www.SeattleClassAction.com
15:16 EDT OCTOBER 26, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


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Marshall Peterson
394 Ansley Brook Drive
Lawrenceville, GA 30044
mdpeterson@siriusimages.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Marshall Peterson


I have just finished the draft for our internal legal review and sent it around.  There are still a lot of work to be done but I do not know when everyone will have time to look at this considering how much other work there is.  How should we respond considering she has copied Tom Gros?
 -----Original Message-----
From: 	Cordes, Kathryn
Sent:	Thursday, October 25, 2001 5:12 PM
To:	Hansen, Leslie; Shackleton, Sara; Hendry, Brent
Cc:	Greenberg, Mark; Eller, Erik; Gros, Thomas D.
Subject:	Amendments Status
Importance:	High

Leslie Sara, and Brent:

Could I get an update on were we are with the top 20 customer amendments.  Last week we got 5 amendments for power physical but we still haven't received any amendments for financial.  Entergy-Koch is very interested in ConfirmLogic and have asked for the amendments.  When can we get the amendments for Entergy-Koch completed?

Thanks,
KC


Dana,

     All I know is take 45 south to Galveston.  Take the first(61 st) exit
(you will see the sign for Moody Gardens).  Turn right at the light.  Take
it all the way to the Seawall Blvd (which is the acutal seawall).  Turn left
on the Seawall.  It will down on your left hand side.  The Galveston Hilton
Resort and Conference Center  5400 Seawall Blvd.

Denise

-----Original Message-----
From: Dana.Davis@enron.com [mailto:Dana.Davis@enron.com]
Sent: Tuesday, October 17, 2000 10:42 AM
To: denise.moore@dhs.state.tx.us
Subject: Request for Directions

Morning -
     Would you mind terribly, taking a few minutes to jot down a brief set
of directions to our retreat in Galveston please, sweetie, little kitty?

Thank you!

DD


------------------------------------------------------------------------------
------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

March 2, 2001 5:00pm through March 5, 2001 12:00am
------------------------------------------------------------------------------
------------------------

SCHEDULED SYSTEM OUTAGES:    ENA

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON NORTH AMERICAN LANS:
Impact:  EES
Time:  Fri 3/2/2001 at  10:00:00 PM CT thru Sat 3/3/2001 at  12:15:00 AM CT
 Fri 3/2/2001 at    8:00:00 PM PT thru Fri 3/2/2001 at  10:15:00 PM PT
 Sat 3/3/2001 at  4:00:00 AM London thru Sat 3/3/2001 at  6:15:00 AM London
Outage:  Re-IP of the 12th floors
Environments Impacted:  EES
Purpose: Migrate users to new router
Backout: Change connections back, re-ip switches
Contact(s):  Vincent Fox    713-853-5337

Impact:  CORP
Time:  Sun 3/4/2001 at  10:00:00 AM CT thru Sun 3/4/2001 at  3:00:00 PM CT
 Sun 3/4/2001 at    8:00:00 AM PT thru Sun 3/4/2001 at  1:00:00 PM PT
 Sun 3/4/2001 at  4:00:00 PM London thru Sun 3/4/2001 at  9:00:00 PM London
Outage:  Clean up of 110 environment at Ardmore
Environments Impacted:  Corp
Purpose: Jumbled mess is impossible to trace out connections and looks
terrible.  We also need to consolidate the connections on to fewer blades.
Connections will be unplugged for less than 1 minute.
Backout: none
Contact(s):  Steve Hardy  713-853-9294  713-415-0672

Impact:  500 Jefferson
Time:  Sun 3/4/2001 at  10:15:00 AM CT thru Sun 3/4/2001 at  5:00:00 PM CT
 Sun 3/4/2001 at    8:15:00 AM PT thru Sun 3/4/2001 at  3:00:00 PM PT
 Sun 3/4/2001 at  4:15:00 PM London thru Sun 3/4/2001 at  11:00:00 PM London
Outage:  Re-routing 500 Jefferson
Environments Impacted:  500 Jefferson
Purpose: To stop routing across OC3 and route accross GIG
Backout: Set routing back on HOUCX1 and HOUCX2
Contact(s):  Tomas Mendez      713-345-3250

Impact:  600 Jefferson
Time:  Sun 3/4/2001 at  10:00:00 AM CT thru Sun 3/4/2001 at  5:00:00 PM CT
 Sun 3/4/2001 at    8:00:00 AM PT thru Sun 3/4/2001 at  3:00:00 PM PT
 Sun 3/4/2001 at  4:00:00 PM London thru Sun 3/4/2001 at  11:00:00 PM London
Outage:  Re-routing 600 Jefferson
Environments Impacted:  600 Jefferson
Purpose:
Backout: keep routing from Ardmore
Contact(s):  Tomas Mendez    713-345-3250

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING:
Impact:  EI
Time:  Fri 3/2/2001 at  9:00:00 PM CT thru Sat 3/3/2001 at  1:00:00 AM CT
 Fri 3/2/2001 at  7:00:00 PM PT thru Fri 3/2/2001 at 11:00:00 PM PT
 Sat 3/3/2001 at  3:00:00 AM London thru Sat 3/3/2001 at  7:00:00 AM London
Outage:  EI Notes Server Maintenance
Environments Impacted:  EI Local/Domestic/Foreign Sites
Purpose: Scheduled @ 2 week interval
Backout: N/A
Contact(s):  David Ricafrente    713-646-7741

Impact:  Corp Notes
Time:  Fri 3/2/2001 at  9:00:00 PM thru Sat 3/3/2001 at  1:00:00 AM
 Fri 3/2/2001 at  7:00:00 PM PT thru Fri 3/2/2001 at 11:00:00 PM PT
 Sat 3/3/2001 at  3:00:00 AM London thru Sat 3/3/2001 at  7:00:00 AM London
Outage:  cNotes Server Reboots
Environments Impacted:  All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval
Backout: Make sure server comes up.
Contact(s):  Trey Rhodes  (713) 345-7792

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEM         SysAdmiral-Batch Scheduling
 Impact:  CORP
Time:  Fri 3/2/2001 at  8:00:00 PM CT thru Fri 3/2/2001 at  9:00:00 PM CT
 Fri 3/2/2001 at  6:00:00 PM PT thru Fri 3/2/2001 at  7:00:00 PM PT
 Sat 3/3/2001 at  2:00:00 AM London thru Sat 3/3/2001 at  3:00:00 AM London
Outage:  SysAdmiral Agent Reinstall.
Environments Impacted:  Corp
Purpose: Credit Aggregation file dependencies are no longer working and it
has been troubleshot that the Agent on Quark is corrupted. No jobs will be
scheduled or executed during this outage.
Backout: Restore the backup directory structure.
Contact(s):  Rusty Cheves    713-345-3798         877-499-0610(ips)

SITARA:
Impact:  Sitara Production
Time:  Sat 3/3/2001 at  5:00:00 PM CT thru Sun 3/4/2001 at  12:00:00 PM CT
 Sat 3/3/2001 at  3:00:00 PM PT thru Sun 3/4/2001 at  10:00:00 AM PT
 Sat 3/3/2001 at 11:00:00 PM London thru Sun 3/4/2001 at  6:00:00 PM London
Outage:  Sitara
Environments Impacted:  Sitara Users
Purpose: East Desk Split
Backout: Restore database/system.
Contact(s):  Sitara on Call    713-288-0101

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

SCHEDULED SYSTEM OUTAGES:   ESA
Impact:  ESA
Time:  Sat 3/3/2001 at  4:00:00 PM CT thru Sun 3/4/2001 at  4:00:00 PM CT
 Sat 3/3/2001 at  8:00:00 PM Brazil thru Sun 3/4/2001 at  8:00:00 PM Brazil
 Sat 3/3/2001 at  2:00:00 PM PT thru Sun 3/4/2001 at  2:00:00 PM PT
 Sat 3/3/2001 at  10:00:00 PM London thru Sun 3/4/2001 at  10:00:00 PM London
Outage:  Maintenance to the electrical systems
Environments Impacted:  Sao Paulo Office
Purpose: Security maintenance
Backout: Back to the original project.
Contact(s):  Nilson Busto    7910-1347

------------------------------------------------------------------------------
-------------------------------------------------------
FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center
(713) 853-5536   Information Risk Management

Specific Help:
Unify On-Call      (713) 284-3757  [Pager]
Sitara On-Call     (713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS   (713) 639-9726  [Pager]
OSS/UA4/TARP    (713) 285-3165  [Pager]
CPR      (713) 284-4175  [Pager]
EDI Support      (713) 327-3893  [Pager]
EES Help Desk     (713)853-1741 OR (888)853-9797


Detailed below are the project teams identified in yesterday's meeting.  We would like to run these by Greg asap to begin pulling them together and wanted to run this current list by each of you.  We specifically wanted to make sure that you felt we would only be requiring Greg to go get Deirdre, Heather, Jim and Kristen from other business units.

Please let us know by the end of today if you have any additions or deletions to this list.

Thanks

Wade


Jeff, you will be missed by many, many people here at Enron.  I know that I and the rest of the internal communications team (Sarah and Courtney) will miss working with you and will miss your engaging management style.  You helped us raise employee communications to a fresh new level, and you'll be a hard act to follow at floor meetings, breakfasts, videos, etc.

I wish you the best in everything you do going forward.  Have fun, take care and God bless.

Mary E. Clark
Director, Internal Communications
Phone:  713-853-7325
Fax:  713-853-6790
e-mail:  mary.clark@enron.com


-----Original Message-----
From: 	djcustomclips@djinteractive.com@ENRON [mailto:IMCEANOTES-djcustomclips+40djinteractive+2Ecom+40ENRON@ENRON.com]
Sent:	Friday, June 08, 2001 4:46 AM
To:	303439@mailman.enron.com
Subject:	E Nymex: Market Forces - Problems in cyberspace.

Market Forces - Problems in cyberspace.

06/08/2001
Energy Compass
(c) 2001 Energy Intelligence Group. All rights reserved

When the New York Mercantile Exchange (Nymex) announced last May it was
building an electronic trading platform, it said its eNymex trading system
would be up and running by the autumn. The aim was to steal some of the
thunder from the launch of the Big Oil-backed IntercontinentalExchange (ICE),
which was set to start up around the same time.

In the event, ICE launched on time last October and has since built up trading
volumes and attracted new participants. It has also won support for its offer
to buy London's International Petroleum Exchange (IPE), giving it more
firepower in the e-trading sector.
Nymex, meanwhile, continues to struggle, and has repeatedly pushed back its
launch date. More recently, the exchange's problems have been legal. It has
filed a breach-of-contract lawsuit against one of the partners that was
helping build the eNymex trading system, prompting some observers to speculate
that the electronic trading platform will suffer more delays.

A big piece of eNymex was being developed by GlobalView Software. The
Chicago-based firm was picked to build the software connection between the
trading engine, designed by start-up technology company Kiodex, and the web
page layout, developed by Fry Multimedia. Nymex said in a filing with the US
Securities and Exchange Commission that it terminated the relationship with
GlobalView because of performance issues under the contract. Shortly after
kicking GlobalView off the project, Nymex filed the suit in the New York State
Supreme Court. GlobalView is now preparing a countersuit in New York.

Although GlobalView was announced as an eNymex partner in March, the company
had begun work back in December. GlobalView chief executive Jon Olson says
that "almost immediately there were issues." He adds: "Our view is they were
financial issues." With GlobalView gone, Nymex is reviewing its options, which
include choosing another software provider.

Nymex has also dismissed consulting firm Accenture (formerly Andersen
Consulting), which had helped manage the New York exchange's transition to an
electronic trading platform from the early days. A Nymex spokeswoman says that
Accenture's work was complete. One observer, however, characterizes Nymex's
recent actions as cost-cutting moves.

Despite the setbacks, Nymex continues to say that testing of the system will
be complete this summer, with a full-scale rollout planned soon after. With
eNymex, none of the exchange's existing futures contracts will be switched to
the new platform. Instead, eNymex will focus on derivatives, new territory for
the New York exchange. Some smaller oil futures contracts will also be put
online. Nymex has fired early shots at the ICE/IPE duo, recently announcing
plans to launch a Brent futures contract that will compete with the IPE's
flagship product (EC May 4, p3).

Although Nymex's electronic trading system has yet to launch, the platform has
already been picked by US technology consultants Forrester Research as one of
the few energy e-trade winners. But one executive at a rival exchange wonders
how Forrester can say that eNymex will succeed when the system has yet to be
tested in the market.

By Jeff Gosmano, Houston.

Folder Name: E Nymex
Relevance Score on Scale of 100: 97

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact your local sales representative.)
______________________________________________________________________

Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved


IT	FT	Fuel		FT Demand
Onshore-Mainline	.0387	.004	.697%		$1.0603 = $.0349 per day

Mainline-Leach		.1225	.0191	2.902%		$3.145 = $.1035 per day

All rates include ACA but no GRI.


FYI.
----- Forwarded by Alan Aronowitz/HOU/ECT on 03/12/2001 03:32 PM -----

	"elaw@bakernet.com" <elaw
	03/11/2001 10:36 PM
	Please respond to elaw

		 To: undisclosed-recipients:;
		 cc:
		 Subject: "Baker & McKenzie E-Law Alert"

Global E-Law Alert
 - jid6283112001.htm


Let's add Bob Mustard to the list.


This book is set up.  The physical book is also set up in Sitara.  Please
contact me if you have any questions/comments.

Thank you,
Susan
x3-1462


---------------------- Forwarded by David W Delainey/HOU/EES on 05/17/2001
08:47 AM ---------------------------

Ken Rice@ENRON COMMUNICATIONS
05/16/2001 09:34 AM
To: David W Delainey/HOU/EES@EES
cc: Kevin Hannon/Enron Communications@Enron Communications
Subject: FW: DARWIN AWARDS

Delainey

Why is it that a Canadian always seems to win the Darwin Awards?

Ken

----- Forwarded by Ken Rice/Enron Communications on 05/16/01 09:26 AM -----

	donrs@donrs.com
	05/16/01 08:46 AM

		 To: RMSherrill@duke-energy.com, lance_riley@anadarko.com, Ken Rice/Enron
Communications@Enron Communications, alinbeck@redstonegroup.com
		 cc:
		 Subject: FW: DARWIN AWARDS

-----Original Message-----
From: Bob and Sharyn Perkins [mailto:bsbprkns@jump.net]
Sent: Tuesday, May 15, 2001 9:04 PM
To: Undisclosed-Recipient:;
Subject: Fw: DARWIN AWARDS

Read it and shake your head in wonder.
> Subject: FW: DARWIN AWARDS
>
>
> >> Hot off the press! The 2000-2001 Darwin Awards
> Are Here!! > The latest
> >> Darwin Awards update....
> >> 1.  A Canadian man, searching for a way of
> getting drunk cheaply, because
> >> he had no money with which to buy alcohol, mixed
> gasoline with milk. Not
> >> surprisingly, this concoction made him ill, and
> he vomited into the
> >> fireplace in his house. This resulting explosion
> and fire burned his house
> >> down, killing both him and his sister.
> >> 2. A 34-year-old white male found dead in the
> basement of his home died of
> >> suffocation, according to police. He was
> approximately 6'2" tall and
> >> weighed 225 pounds. He was wearing a pleated
> skirt, white bra, black and
> >> white saddle shoes, and a woman's wig. It
> appeared that he was trying to
> >> create a schoolgirl's uniform look. He was also
> wearing a military gas
> >> mask that had the filter canister removed and a
> rubber hose attached in
> >> its place. The other end of the hose was
> connected to a one end of a
> >> hollow wooden tube approx. 12" long and 3" in
> diameter. The tube's other
> >> end was inserted into his rear end for reasons
> unknown, and was the cause
> >> of his suffocation. Police found the task of
> explaining the circumstances
> >> of his death to his family very awkward.
> >> 3. Three Brazilian men were flying in a light
> aircraft at low altitude
> >> when another plane approached. It appears that
> they decided to moon the
> >> occupants of the other plane, but lost control of
> their own aircraft and
> >> crashed. They were all found dead in the wreckage
> with their pants around
> >> their ankles.
> >> 4. A police officer in Ohio responded to a 911
> call. She had no details
> >> before arriving, except that someone had reported
> that his father was not
> >> breathing. Upon arrival, the officer found the
> man face down on the couch,
> >> naked. When she rolled him over to check for a
> pulse and to start CPR, she
> >> noticed burn marks around his genitals. After the
> ambulance arrived and
> >> removed the man - who was declared dead on
> arrival at the hospital - the
> >> police made a closer inspection of the couch, and
> noticed that the man had
> >> made a hole between the cushions. Upon flipping
> the couch over, they
> >> discovered what caused his death. Apparently the
> man had a habit of
> >> putting his penis between the cushions, down into
> the hole and between two
> >> electrical sanders (with the sandpaper removed,
> for obvious reasons).
> >> According to the story, after his orgasm the
> discharge shorted out one of
> >> the sanders, electrocuting him.
> >> 5. A 27-year-old French woman lost control of her
> car on a highway near
> >> Marseilles and crashed into a tree, seriously
> injuring her passenger and
> >> killing herself. As a commonplace road accident,
> this would not have
> >> qualified for a Darwin nomination, were it not
> for the fact that the
> >> driver's attention had been distracted by her
> Tamagotchi key ring, which
> >> had started urgently beeping for food as she
> drove along. In an attempt to
> >> press the correct buttons to save the
> Tamagotchi's life, the woman lost
> >> her own.
> >> 6. A 22-year-old Reston, VA man was found dead
> after he tried to use
> >> octopus straps to bungee jump off a 70-foot
> railroad trestle. Fairfax
> >> County police said Eric Barcia, a fast-food
> worker, taped a bunch of these
> >> straps together, wrapped an end around one foot,
> anchored the other end to
> >> the trestle at Lake Accotink Park, jumped and hit
> the pavement. Warren
> >> Carmichael, a police spokesman, said
> investigators think Barcia was alone
> >> because his car was found nearby. "The length of
> the cord that he had
> >> assembled was greater than the distance between
> the trestle and the
> >> ground", Carmichael said. Police say the apparent
> cause of death was
> >> "Major trauma".
> >> 7. A man in Alabama died from rattlesnake bites.
> It seems that he and a
> >> friend were playing a game of catch, using the
> rattlesnake as a ball. The
> >> friend - no doubt, a future Darwin Awards
> candidate - was hospitalised.
> >> 8. Employees in a medium-sized warehouse in west
> Texas noticed the smell
> >> of a gas leak. Sensibly, management evacuated the
> building, extinguishing
> >> all potential sources of ignition lights, power,
> etc. After the building
> >> had been evacuated, two technicians from the gas
> company were dispatched.
> >> Upon entering the building, they found they had
> difficulty navigating in
> >> the dark. To their frustration, none of the
> lights worked (you can see
> >> what's coming, can't you?). Witnesses later
> described the sight of one of
> >> the technicians reaching into his pocket and
> retrieving an object, that
> >> resembled a cigarette lighter. Upon operation of
> the lighter-like object,
> >> the gas in the warehouse exploded, sending pieces
> of it up to three miles
> >> away. Nothing was found of the technicians, but
> the lighter was virtually
> >> untouched by the explosion. The technician
> suspected of causing the blast
> >> had never been thought of as 'bright' by his
> peers.
>
>


---------------------- Forwarded by David W Delainey/HOU/ECT on 05/11/2000
02:28 PM ---------------------------

David W Delainey
05/11/2000 02:28 PM
To: Jere C Overdyke/HOU/ECT@ECT, John Thompson/LON/ECT@ECT
cc:
Subject: Producer Insurance Targets

Gere, just following up on the offsite - have you all agreed on the target
producer list for the insurance product?

How is the peaker product developing?

Regards
Delainey


Dave give me a call. Some of the data looks odd.

Also It seems that old reports still have Arnolds future contract included.

John


A typical utility luncheon.
---------------------- Forwarded by Steven J Kean/HOU/EES on 12/09/99 05:40
PM ---------------------------

	Enron Energy Services

	From:  Michael Harris                           12/09/99 05:03 PM
	Phone No: 713-345-7557

To: Steven J Kean/HOU/EES@EES
cc:
Subject: How about lunch?

 - Lunch(1).jpg


Do we have a gisb contract with them


---------------------- Forwarded by Michael Burke/Houston/Eott on 02/17/2000
02:47 PM ---------------------------

Molly Sample
02/17/2000 02:08 PM
To: Michael Burke/Houston/Eott@Eott, Dana Gibbs, Mary Ellen
Coombe/Houston/Eott@Eott, Cutty Cunningham/Houston/Eott@Eott, Robert
Sanford/Houston/Eott@Eott
cc: Walt Zimmerman, Steve Duffy/Houston/Eott@Eott, Susan Ralph

Subject: Re: Spill in Louisiana

PRIVILEGED AND CONFIDENTIAL-ATTORNEY/CLIENT COMMUNICATION

Paul Newman provided me with this information, setting out the facts of a
spill which occurred today in the Caddo Lake area.  I am forwarding this
information for your review and information.
---------------------- Forwarded by Molly Sample/Houston/Eott on 02/17/2000
02:03 PM ---------------------------

Paul Newman
02/17/2000 01:42 PM
To: Molly Sample/Houston/Eott@Eott
cc:

Subject: Re: Spill in Louisiana

PRIVILEGED AND CONFIDENTIAL - ATTORNEY/CLIENT COMMUNICATION

At approximately 11:30 a.m. today 2/17/00, there was a release of
approximately 80 barrels of crude oil.  The crude oil entered an unnamed
tributary near the Northwest corner of Caddo Lake.  The release was contained
approximately 50 yards from the lake entrance.  The release occurred from a
3" or 4" infield gathering line between a production facility and EOTT's
Trees Station.  The release occurred approximately one mile east of Trees,
LA.  The pipeline integrity was compromised by a tree limb.  It is believed
that during the last freeze the tree limb fell on the gathering line.  This
gathering line has not been run since before the freeze.  All appropriate
agency notifications have been made.  The following EOTT personnel have been
verbally notified: Cutty Cunningham; Mary Ellen Coombe; Molly Sample.  I
suggest this be forwarded to Mike Burke, Cutty Cunnungham, Mary Ellen Coombe,
Dana Gibbs and Robert Sandford

Molly Sample
02/17/2000 01:27 PM
To: Paul Newman/Houston/Eott@Eott
cc:

Subject: Spill in Louisiana

Please send me a report summarizing the facts as you know them for the spill
which occurred today in Louisiana.  In your summary, please tell me who else
you think should be aware of this matter and I will forward your email
accordingly.  Thank you.

Molly


thanks Bob!!!!!!!!!!!!!!!!

 -----Original Message-----
From: 	Bandel, Bob
Sent:	Wednesday, February 27, 2002 12:58 PM
To:	Hyatt, Kevin; McCallister, Dean; Clark, Scott; Mobley, Randall; Monahans, Team
Subject:	RE: Potential sale of Gomez lateral pipe

Kevin,
Dean McCallister said he would be the point for this project.  You will need to get with Roger Westbrook(Houston) about the ROW records.  Dean will also contact Trevor Davidson in Albuquerque to get a print out of MCS that addresses all the other maintenance records.
Dean McCallister
Office 	915-943-3297 or 3298
Cell		915-940-7401
Pager	800-587-0631
The advisor that works with the Monahans Team is Randall Mobley:
Office	915-884-2586  ext. 10
Cell		915-638-5163
Pager	800-511-5382
However; do not hesitate contacting me anytime:
Office	915-943-2480
Cell		915-940-1515
Pager 	800-999-6710   pin 9929946
GUNG HO my friend~~
Bandel

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Wednesday, February 27, 2002 11:57 AM
To:	Monahans, Team; Bandel, Bob; Baker, Robert
Cc:	Schoolcraft, Darrell; Gadd, Eric
Subject:	Potential sale of Gomez lateral pipe
Importance:	High

Dear Team--

	We are evaluating the potential sale of TW's existing 20-inch diameter Gomez lateral in Pecos and Ward County, Texas and have executed a confidentiality agreement with the proposed buyer (Pioneer Gas Pipeline).  The buyer would like to begin the due diligence process as early as possible and has asked to review  info related to the following:

	1) Maintenance records for last 3 years
	2) right-of-way / easement agreements

The potential benefits to TW of this transaction include 1) monetizing an asset that today is generating zero value and 2) creating a new source of gas supply into TW from the buyer.

Questions I have are:

	a) Can we designate a "point" person from the Monahans Team that I can coordinate with and who would that be?
	b) Where / who has the records & documents for the items above?

Your timely response is greatly appreciated.  Please coordinate with me all questions / concerns.  I ask that no information (verbal or written) be passed to any interested outside party without prior clearance with me.

thanks for your help!!  I can be reached in Houston at 713-853-5559.

Kevin Hyatt
Director, Asset Development


-----Original Message-----
From: 	Staab, Theresa
Sent:	Thursday, May 24, 2001 4:33 PM
To:	sscott5@enron.com
Subject:	Questar Deal

Susan,
I see you entered this deal.  Can you verify this for Elizabeth?  Thanks.

Theresa
(303) 575-6485
----- Forwarded by Theresa Staab/Corp/Enron on 05/24/2001 03:32 PM -----

	Elizabeth L Hernandez/ENRON@enronXgate 05/24/2001 03:03 PM 	   To: Theresa Staab/Corp/Enron@ENRON  cc:   Subject:

Please verify price on deal 803604.  Customer sent the confirmation back showing the price to be Inside Ferc Monthly Index.


Now you're committed!
m

Shanna Funkhouser@ENRON
01/16/2001 09:22 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT
cc:
Subject: voicemail

You will both be glad to know that I finally figured out how to change the
header to my voicemail to say "EGM HR".  Sorry for the delay.

Shanna


Start Date: 12/23/01; HourAhead hour: 14;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122314.txt


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

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

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

Please call if you have any concerns or questions.

adr

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


Yes, it is working, you're up early this morning, it's not even noon yet.
You must be feeling good today!


My trip cancelled, so I'm around.  I can pick Michael up at your place if
this is easier for you.

Kay


Here is a response from Shemin regarding the gas that we received on MRT from Duke Field Services. I would like to know if I can seek the necessary approvals to pay Duke for the volumes.

Thanks
Joe

-----Original Message-----
From: Proctor, Shemin V. [mailto:sproctor@akllp.com]
Sent: Wednesday, March 20, 2002 3:49 PM
To: Parks, Joe
Cc: mark.ellenberg@cwt.com; melanie.gray@weil.com
Subject: Duke Field Services

Joe,

Based on our discussions, the facts are as follows: Prior to 12/2/01,
ENA sold gas to One Oak.  During the period 12/4-12/31/01, Duke Field
Services inadvertently flowed gas on the MRT pipeline to ENA. ENA used
the gas received from Duke Field Services to fulfill its obligations
under the sales agreement to One Oak.

ENA is obligated to pay Duke Field Services for the gas it received and
later delivered to One Oak because this event occurred post-petition and
benefited ENA.

Shemin


You regulatory folks may have already seen this. . . .

Posted at 12:27 p.m. PDT Monday, Aug. 6, 2001
FERC chairman to resign
WASHINGTON (AP) -- Curtis Hebert, a target of congressional Democrats and California's governor over his handling of the Western power crisis, is resigning at the end of the month as chairman of the Federal Energy Regulatory Commission.
White House spokeswoman Ann Womack said Monday that Hebert submitted his resignation in a letter to President Bush delivered to the White House on Friday. The resignation takes effect Aug. 31.
The resignation had been expected amid indications for months from the White House that the president wanted Patrick Wood III, a state regulator from Texas, to head the federal agency that oversees wholesale electricity markets and interstate natural gas transportation.
``The president appreciates Curtis Hebert's service as chairman of the FERC. He has worked hard to balance the need for just and reasonable rates with the need to encourage adequate new supplies of energy,'' Womack said.
Bush is expected to appoint Wood, an old associate from when Bush was Texas governor, as the commission's new chairman. Bush nominated Wood, who had been chairman of the Texas Public Utility Commission since 1995, to the FERC earlier this year. The Senate confirmed him May 25.
Hebert, a Republican from Mississippi and close friend of Senate Republican leader Trent Lott, was named FERC chairman by Bush in January. At the time, Hebert was the only Republican on the five-member commission because of two vacancies.
Although Hebert was said to have considered the appointment as a permanent one, word quickly emerged from the administration that the president wanted Wood, with whom he had worked in Texas, to head the agency that has been at the center of the California electricity controversy.
Hebert, a strong free-market advocate, has defended electricity deregulation and vigorously opposed FERC's imposing price controls in California even as his critics said the Western electricity markets were out of control and not working.
He frequently clashed with one of the commission's Democratic members, William Massey, over FERC's role in assuring that just and reasonable prices are charged by Western power marketers. Massey wanted some additional price restrictions.
California Gov. Gray Davis and the state's two senators -- Democrats Dianne Feinstein and Barbara Boxer -- have blamed Hebert for FERC's failure to move aggressively in curtailing power prices in the West and its refusal to demand tens of billions of dollars in refunds of high prices charged California for power.
Hebert argued that price controls will add to the power supply problem in California by stifling power plant construction. He also insisted that FERC has been aggressive in seeking refunds when evidence of price gouging has been found.
In June, after Wood and another Bush nominee, Nora Brownell of Pennsylvania, joined the commission, FERC issued price caps on electricity in California and other Western states.
Since then, electricity prices have eased in the California market. While the lower prices have been largely attributed to a combination of mild weather and a push for conservation, the FERC-imposed price restrictions also are widely believed to have played a role.
Send us feedback <http://www.bayarea.com/c/rc/support/email.htm> | Discuss this story <http://forums.bayarea.com/webx/cgi-bin/WebX?13@175.1pfXaJCTaP5%5E1@.ee6b61f> | When we update </c/breaking/update_info.html>


Tim:

At you request,  we are pleased to provide you an additional draft of
the Master Agreement originaly sent September of 2000. Please do not
hesitate to give me a call should you have any questions regarding this
matter.

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


We can discuss and decide over the break.

Best,
Jeff

	"Mark Guinney" <Mark_Guinney@watsonwyatt.com>
	03/14/2001 09:35 AM

		 To: "Vavrek; Carolyn (US - San Francisco)" <cvavrek@deloitte.com>,
"vavrek@haas.berkeley.edu" <vavrek@haas.berkeley.edu>,
"sama@haas.berkeley.edu" <sama@haas.berkeley.edu>, "jdasovic@enron.com"
<jdasovic@enron.com>
		 cc:
		 Subject: Re:RE: Group Project

Anil,

Questions for you:  Is Zircom in an easily definable industry so we can make
comparable studies and valuations?  Is their much public history of the firm?
Will such an acquisition have a significant influence on Intel's earnings (my
guess is no since Zircom's latest annual revenue was only $500 million versus
Intel's $20+ billion revenue)?  Can we make reasonable future estimates of
Zircom's financial statements and business lines?

I, for one, have little knowledge or confidence in myself of analyzing a tech
company.  Given the fact that Anil is the only person in the industry from our
group we would be heavily reliant on him to give us strategic insight on the
companies and their businesses.  My preference- an industry that is relatively
more stable and simple for all of us to understand.  While we don't have to do
Amazon specifically, I would like an industry or company that won't require an
immersion of readings just to understand the product, sales distribution,
clients, distributors, etc.  Remember, we have to make guestimates about the
future of the industry and predict sales, costs, etc.  The nice thing about
Amazon (or a similar company) is that it is merely an Internet twist on an
industry with a very long history and an easy to understand business model.
Webvan could be another example.

Another idea:  Trying to value Fidelity Investments- a private company.  The
nice thing about this exercise is that there is a lot of data on comparable
companies (T. Rowe Price, Zurich Scudder, Franklin Templeton) and some public
information on Fidelity.  A good portion of our valuation would be based on
assumptions which means that as long as we can support our assumptions we
can't
be wrong.

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax

____________________Reply Separator____________________
Subject:    RE: Group Project
Author: cvavrek@deloitte.com (Vavrek; Carolyn (US - San Francisco))
Date:       03/14/2001 1:03 PM

My vote is for analyzing the Intel purchase because we have access to some
inside info, Anil is well versed in this industry (I assume) so we could do
some good comps analysis and it seems like the right size case for us.  We
could easily send Sarah the link Anil sent us and say that we are going to
analyze this acquisition.  I am also open to the Amazon analysis, although I
am not as excited about analyzing such a popular issue.

Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA  94105

phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com

-----Original Message-----
From: Mark Guinney [mailto:Mark_Guinney@watsonwyatt.com]
Sent: Tuesday, March 13, 2001 5:11 PM
To: vavrek@haas.berkeley.edu; sama@haas.berkeley.edu; jdasovic@enron.com
Subject: Group Project

I was just brainstorming on potential projects.  I thought that an
interesting
and fairly relevant topic could be a current evaluation of Amazon.com and
how
the projected revenues & profits relate to the current stock price.  We
could
also provide some historical perspective on all realistic Amazon's stock
price
was a year or two ago relative to a discounted cash flow.  I can fairly
easily
get my hands on some Wall Street analyst research reports that could provide
us
with some insights and hints as to what Wall Street is expecting.  Most of
our
time can be spent creating a discounted cash flow model similar to what we
have
been doing in class.  Since the jury is still out on Amazon's business
model, I
think it would make for some interesting debate in class when we present our
model.

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax

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Further to our discussion this morning. There is still one item outstanding
(see attached checklist) .It involves is the trading of other products apart
from power (ie those not covered by our exempt market declaration). Is there
a way forward to overcome the restriction on transacting standard weather
products through EnronOnline?

For those not familiar with the issue it is summarised in my attached 24
December 1999  memo under the heading ASIC approvals.


Not much has happened with the federal filings since we submitted them (SEC
application was filed on February 4, FERC application was filed on March 3).
Ann has been keeping everyone updated on the DOJ review of the HSR filing.

With regard to the FERC filing, FERC separated the section 203 merger
application from the section 205 joint open access tariff filing.
Interventions and protests to the joint transmission tariff (which will be
used by the merged companies once the merger occurs), were due to be filed at
the end of March.  Interventions and protests to the section 203 application
are due May 3.

One party asked FERC to extend the deadline for interventions and protests on
the tariff to be extended to May 3, and FERC granted that request.  However,
several parties filed interventions before FERC granted the extension, so
some comments have been filed.  The only significant substantive comment came
from the Public Utility Commission of Nevada (PUCN).  PUCN opposes the
merging parties' license plate rate proposal and instead favors a rolled-in
rate structure (where the rates of the three individual systems -- Nevada
Power, Sierra Pacific, and Portland General) are averaged together so that
transmission customers on any of the three systems would pay the same
transmission rate, regardless of which system they use.

We have some answers to this protest.  First, one of FERC's main concerns
with regard to transmission rates is the elimination of pancaked rates
(paying multiple transmission rates for moving over multiple systems).  The
joint open access tariff eliminates pancaking and uses instead a license
plate approach (pay the rate of the system where the power is being delivered
and have transmission access over all three systems for that one rate).
Second, if the rates are averaged together, rate payers in the low cost
region will pay a higher transmission rate.  Third, depending on the RTO
configuration, PGE could be in a separate RTO from Sierra and Nevada, so
different rates, at least for PGE, would be warranted.

We plan on filing an answer to the PUCN protest at the same time we file an
answer to the other protests and comments that will be filed on May 3.   FERC
does not typically allow answers to protests, so we did not want to submit
multiple answers to the various pleadings.  We expect the majority of
protests to be filed in the section 203 merger application docket.  Once we
see the extent of the protests, we will have a better idea of whether FERC
should be able to issue an order on the merger by the end of July (before
they leave for August recess).

The SEC proceeding has been quiet.  There are four major mergers ahead of our
application (AEP/CSW, Energy East, NSP/New Century, ComEd/PECO), so we do not
expect the SEC to focus on our filing until they are closer to ruling on
these other mergers.

We will keep you posted on any significant events on the federal side.  In
the meantime, please call or email me if you have any questions.

Sarah


Hello Everyone:

Due to database difficulties in Houston, the EnronOnline Europe Marketing Report for the week ending June 6, 2001 could not be produced today.  The report will be distributed as soon as data becomes available. Apologies for any inconvenience this may cause.

Regards,
Jennifer Oliver