---------------------- Forwarded by Shanna Husser/HOU/EES on 11/08/2000 01:15
PM ---------------------------

"Cannizaro, Brandi BZ SSI-GRA" <BC202449@MSXSOPC.SHELL.COM> on 11/08/2000
01:14:31 PM
To: "'shusser@enron.com'" <shusser@enron.com>
cc:
Subject: RE: B-Day

No biggie ... give me a call back when you get a chance to chat some more
:))

Yep, we ate at the rainforest ... the atmosphere is AWESOME ... definitely
worth eating there for the experience ... but, the food is nothing special
... different stuff to choose from but a little overpriced for the tastiness
....
anyway ... that's my rating :))
the one in orlando is much better than the one in houston ............

-----Original Message-----
From: shusser@enron.com [mailto:shusser@enron.com]
Sent: Wednesday, November 08, 2000 12:36 PM
To: BC202449@MSXSOPC.SHELL.COM
Subject: Re: B-Day

Sorry I didn't get a chance to call you back yesterday- swamped over here-
especially after being gone all of last week.

Keep me posted on what ya'll want to do for Michelle's birthday.

Didn't you tell me that ya'll had eaten once at the Rainforest Cafe?  How
was that?  Eric was asking me about it- and I thought I remembered you
telling me that you had went awhile back.

"Cannizaro, Brandi BZ SSI-GRA" <BC202449@MSXSOPC.SHELL.COM> on 11/08/2000
10:47:10 AM

To:   "'Michelle Thompson'" <mthomps@enron.com>,
      "'Shanna.Husser@enron.com'" <Shanna.Husser@enron.com>
cc:
Subject:  B-Day

Well --  We've got another birthday coming up :)))  Yeah, Michelle !!
It's the 24th of this month, which is Thanksgiving time .... So, any
preferences to when you want to celebrate ??

do we do our usual cheesecake factory or should we try something new ??
It's up to you !! :))

Brandi Cannizaro
Systems Analyst, Computer Services
Office:  N/MOA 101 / Phone:  713-246-6231
Email:  bcannizaro@shellus.com
Shell Services International supporting Shell Deer Park Refining Company


FYI

 -----Original Message-----
From: 	Stark, Cindy   On Behalf Of Horton, Stanley
Sent:	Friday, August 31, 2001 2:41 PM
To:	'colin.skellett@wessexwater.co.uk'; Gibbs, Dana; Garrison, John L; Umanoff, Adam; Hughes, James A.; FOWLER, PEGGY; Smith, Gary; McCarty, Danny; Lowry, Phil; Hartsoe, Joe; Hayslett, Rod; Hotte, Steve; Fossum, Drew; Corman, Shelley; Cordes, Bill
Subject:	STAN HORTON'S CURRENT TOP TWENTY-ONE LIST
Importance:	High

FYI

Cindy Stark
Executive Assistant to Stan Horton
Tel:   713/853-6197
Fax:  713/345-7047
Cindy.Stark@enron.com


All,
THE CHANGE CONTROL CONFERENCE CALL WILL BE HELD ON
FRIDAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
THE CHANGE COTNROL CONFERENCE CALL WILL BE HELD ON
FRIDAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Attached are the change controls and questions for this FRIDAYs call.
Please review and be prepared to dicuss on FRIDAY morning.

NUMBER:    800.430.8190    # 5591
TIME: FRIDAY, 2/1/02,  10:00 AM

 <<Question1_2-1.doc>>  <<ChangeControl2002-242Tabled.doc>>
<<ChangeControl2002-252.doc>>  <<Question2_2-1.doc>>  <<Questions for
Wednesday Call at 10_2-1-02.doc>>  <<Question3_2-1.doc>>
<<ChangeControl2002-253.doc>>

Dave Odle
Retail Transaction Lead
ERCOT The Texas Connection
(512) 248-3948
(512) 567-2329 Mobile
dodle@ercot.com

 - Question1_2-1.doc
 - ChangeControl2002-242Tabled.doc
 - ChangeControl2002-252.doc
 - Question2_2-1.doc
 - Questions for Wednesday Call at 10_2-1-02.doc
 - Question3_2-1.doc
 - ChangeControl2002-253.doc


Jay:

In my travels looking for index 2 ways in the various rockies term markets you need I am running into several issues.  First off, as you are aware, these markets don't tend to change much from day to day especially for the more obscure points and longer dated periods.

Secondly, the time of year being the holidays is keeping most traders focused on Jan, Jan-Mar and April-Oct02 for the most part.  Getting traders to show numbers beyond that, much less getting them to do it every day is not productive or practical.

I suggest we keep in touch as we always do on a daily basis and I will pass on whatever we pick up in the market.  However, attempting to refresh 2-5 year index markets on a daily basis isn't going to yield much in the way of "new" news.

I look forward to seeing your shop get back on its feet down the road and to working with you.

Thanks,    Jim Kornmann - DataLine Energy


Rick,

Sue may have a slightly different version. I had only saved a "draft".
Consequently, I had to re-create some of these from scratch.

Best regards,

Donald

YR2000
Protect and Enhance Existing Assets and Positions
BLM/Forest Service Right-of-Way Issue
Day-to-day Global Risk Management support

Support Potential Transactions
Curtailment of USF, taxes and avoidance of common carrier regulation
Avoidance of "telecommunications service" regulation of Internet Apps, IP
Products and Media Cast

New Market Development
Domestic licensing initiative to support of BWT
International (Canada, MX and SA) and regulatory analysis and licensing to
support BWT and Media Cast

Create and Exploit Opportunities
Ability to obtain wholesale prices on bandwidth and interconnection

YR2001
Protect and Enhance Existing Assets and Positions
BLM/Forest Service Right-of-Way Issue
Continued day-to-day Global Risk Management support

Support Potential Transactions
Support Blockbuster VOD and other multimedia initiatives
Curtailment of USF, taxes and avoidance of common carrier regulation

New Market Development
Support new trading initiative, e.g., Spectrum and Advertising, etc.
Deregulation/regulatory forbearance in Latin America

Create and Exploit Opportunities
Establishment of certified national CLEC
Collaborate  with International Tax to mitigate tax exposure in the Americas


Gerald, FYI I understand that Exxon/Mobil is paying its 1st year summer
clerks
$7,500 per month and that Compaq is paying $30 per hour. Thanks, Bruce.

>>> Gerald.Nemec@enron.com 04/27/01 04:42PM >>>
Bruce,

Enron North America Corp.  selected 4 candidates for interview for
summer
clerkship positions from the resumes you forward.  Two were made offers
with both accepting the offers.  The two clerks we have working this
summer
are:

Alisha Mahabir - South Texas College of Law
Nabil Nachawati - University of Houston Law Center

Nabil will be working the 1st half of the summer and Alisha will be
working
the 2nd half of the summer.  Thanks for all your help with this process.
If you need any further information, please do not hesitate to call me
at
(713) 853-3512.

Gerald Nemec


Steve:
Enclosed is a revised draft of the Guaranty.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Philip:

	Enron Natural Gas Marketing Corp. is a wholly owned subsidiary of Enron North America Corp.

Jeff Hodge


Any GCP Adjustments will be highlighted in red.

Rgds.

Samuel x3-9890
(GCP_Enron Networks)

From: Aparna Rajaram/ENRON@enronXgate on 03/15/2001 03:30 PM
To: Camille Gerard/Corp/Enron@ENRON, Nicole Hunter/NA/Enron@Enron, Tana
Jones/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT
cc: Samuel Schott/HOU/ECT@ECT
Subject: Clickpaper, 03-15-01 ammendment

Please see attahced.

Regards,

Aparna Rajaram
ext. 5-4563


Mark Taylor has asked me to respond to your email.
The NYMEX considers the trades of ENA and its two other principal trading
affiliates (Enron Canada and Enron London), as well as any other affiliates,
to be one and the same as ENA.   The Annual Hedge Exemption applications
require that ENA represent whether its officers, employees, owners, or agents
have a power of attorney, control or have a financial interest in any other
related commodity future(s) account either individually or acting with
another person pursuant to express or implied agreement.as indicated in the
original email from Mark.   In order to make this representation we need to
do due duligence to establish whether our employees have any such accounts,
and if they have such an account, whether having so might raise any concerns
with the NYMEX.
This annual email has a secondary helpful control purpose.  It fleshes out
the trading of employees that might be in violation of the Company's Trading
Policy.   The Trading Policy prohibits Enron employees from trading any
products that the company trades.

	Mark Taylor
	06/26/2000 09:02 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Enron North America Corp. NYMEX Hedge Exemption Applications

----- Forwarded by Mark Taylor/HOU/ECT on 06/26/2000 10:01 AM -----

	Elliot Fullwood@ECT
	06/26/2000 07:38 AM

		 To: Mark Taylor@ENRON
		 cc:
		 Subject: Re: Enron North America Corp. NYMEX Hedge Exemption Applications

Mark,

I do not understand this.  Please explain.
-------------------------

Elliot Fullwood,

Enron Europe Finance and Trading Ltd.           Tel: +44 (0)20 7783 0000
40 Grosvenor Place                                                 Direct:
+44 (0)20 7783 6906
LONDON
Fax: +44 (0)20 7783 9018
SW1X 7EN

	Enron Capital & Trade Resources Corp.

	From:  Mark Taylor @ ENRON                           22/06/2000 01:39

Sent by: Enron Announcements@ENRON
To: Everyone_in_ECT_Calgary, Everyone_in_ECT_London, Everyone_in_ECT_Denver,
Everyone_in_ECT_Singapore
cc:

Subject: Enron North America Corp. NYMEX Hedge Exemption Applications

We are in the process of preparing applications for position limit exemptions
for ENA,s NYMEX energy commodities futures trading.  These applications
require that ENA represent whether its officers, employees, owners, or agents
have a power of attorney, control or have a financial interest in any other
related commodity future(s) account either individually or acting with
another person pursuant to express or implied agreement.

Please direct any responses to my paralegal, Tana Jones, via intercompany
email or call her at (713) 853-3399 by the end of business Friday, June 30,
2000 if you have any power of attorney, control or have a financial interest
in any commodity futures account (other than an ENA or other trading
affiliate account).

IF YOU DO NOT HAVE A COMMODITY FUTURES ACCOUNT, YOU DO NOT NEED TO RESPOND TO
THIS REQUEST.


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 04/26/2000
08:27 AM ---------------------------

"Jennifer Cutaia" <jcutaia@tupac.com> on 04/26/2000 08:10:52 AM
To: judy.hernandez@enron.com
cc:
Subject: [Fwd: Fwd: FW: You have to try this!]

>From: "Norma Chavez" <Norma.Chavez@enron.com>
>To: jcutaia@tupac.com
>Date: Thu, 20 Apr 2000 11:42:53 -0500
>Subject: Fwd: FW: You have to try this!
>
>
>
>
>---------------------- Forwarded by Norma Chavez/ENRON_DEVELOPMENT on
04/20/2000
>11:40 AM ---------------------------
>
>
>"patricia m" <patricia019@hotmail.com> on 02/18/2000 03:31:03 PM
>
>To:   Mezagirl2000@aol.com, KAMeza@Central.UH.EDU, ECValdez@Central.UH.EDU,
>      LHerrera@UH.EDU, mmeza@POP.UH.EDU, Norma.Chavez@enron.com,
>      mimi_ccc@yahoo.com, rosiecav@hotmail.com, LMMeza@Central.UH.EDU
>cc:
>
>Subject:  Fwd: FW: You have to try this!
>
>
>
>
>
>>From: RavishingM@aol.com
>>To: Algy2@aol.com, Andrety2@aol.com, SourThymez@aol.com, TigerTyte@aol.com,
>>        Patricia019@hotmail.com
>>Subject: Fwd: FW: You have to try this!
>>Date: Fri, 18 Feb 2000 13:15:07 EST
>>
>>
>>
>
>______________________________________________________
>Get Your Private, Free Email at http://www.hotmail.com
>
>Content-Transfer-Encoding: 7bit
>Return-Path: <KrisM@GABLES.com>
>Received: from  rly-yb02.mx.aol.com (rly-yb02.mail.aol.com [172.18.146.2]) by
>air-yb05.mail.aol.com (v67_b1.24) with ESMTP; Fri, 18 Feb 2000    11:12:15
-0500
>Received: from  atlex01.gablesnet.com (mail.gables.com [209.119.192.35]) by
>rly-yb02.mx.aol.com (v67_b1.24) with ESMTP; Fri, 18 Feb 2000 11:11:56  -0500
>Received: by atlex01.gablesnet.com with Internet Mail Service (5.5.2650.21)
id
><F1H504DA>; Fri, 18 Feb 2000 11:03:14 -0500
>Message-ID: <454AAA733BB6D211BF4000A0C9DFB8C13B7662@HOUEX01>
>From: Kris Marron <KrisM@GABLES.com>
>To: "Aunt Cindy (E-mail)" <cintar1@aol.com>,        "Beth Forrest (E-mail)"
><bforrest@stewart.com>,        "Jenny Alvarez (E-mail)"
<succuba@hotmail.com>,
>"JoAnne (E-mail)" <dhpooh@hotmail.com>,        "Linda Gonzales (E-mail)"
><Ligonzales@stewart.com>,        "Lollie Salinas (E-mail)"
><lsalinas@stewart.com>,        "Lynette M. Sosa (E-mail)"
<LSOSA@stewart.com>,
>"Mark & Kathy Marron (E-mail)" <krysjonasaurus@aol.com>,        "Michael
>Villasenor (E-mail)" <ravishingm@aol.com>,        "Mimi & Easy (E-mail)"
><productions@prodigy.net>,        "Ron & Denise Greenlaw (E-mail)"
><greenlaw@home.com>,        "Santiago (E-mail)"     <SantiagoNL@aol.com>,
>"Susie Stockholm (E-mail)" <sstockho@stewart.com>,        "Tracy Alvarez
>(E-mail)" <alvarez.tracy.r000@sysco.com>,        "Uncle Jerry & Aunt Elise
>(E-mail)" <gerelis1@swbell.net>,        "Uncle Robert & Aunt Gracie (E-mail)"
><grarob1@aol.com>,        Jerie Meza      <JMeza@GABLES.com>
>Subject: FW: You have to try this!
>Date: Fri, 18 Feb 2000 11:04:26 -0500
>Return-Receipt-To: Kris Marron <KrisM@GABLES.com>
>MIME-Version: 1.0
>X-Mailer: Internet Mail Service (5.5.2650.21)
>Content-Type: text/plain;     charset="iso-8859-1"
>
>Hey everybody!  This one really got me.  I couldn't believe it.
>
>-----Original Message-----
>From: Melanie Peterson
>Sent: Friday, February 18, 2000 9:52 AM
>To: Anna Watson; Houston Reception; Kris Marron; Veronica Lopez; Bill
>Hearn; Tom Thieme; Frank Nash; hsedept@tuboscope.com; newhouse@mail.com;
>RMM190@aol.com; rpasanen@blkbox.com; sppalermo@aol.com;
>xhiladoo@earthlink.net
>Subject: FW: You have to try this!
>
>
>This is cool!
>
>Subject: You have to try this!
>
>Are you the 2%?
>
>This is weird. Follow the instructions! NO PEEKING AHEAD! Free will
>or synaptic wiring? You be the judge.
>
>Do the following exercise, guaranteed to raise an eyebrow. There's
>no trick or surprise. Just follow these instructions, and answer the
>questions one at a time and as quickly as you can!
>
>Again, as quickly as you can but don't advance until you've done
>each of them ... really.
>
>Now, arrow down (but not too fast, you might miss something).
>
>
>
>
>
>Think of a number from 1 to 10
>
>
>
>
>
>
>
>Multiply that number by 9
>
>
>
>
>
>
>
>If the number is a 2-digit number, add the digits together
>
>
>
>
>
>
>
>
>Now subtract 5
>
>
>
>
>
>
>
>
>Determine which letter in the alphabet corresponds to the number you
>ended up with (example: 1=a, 2=b, 3=c, etc.)
>
>
>
>
>
>
>Think of a country that starts with that letter
>
>
>
>
>
>
>
>
>
>Remember the last letter in the name of that country
>
>
>
>
>
>
>
>
>Think of the name of an animal that starts with that letter
>
>
>
>
>
>
>
>
>Remember the last letter in the name of that animal
>
>
>
>
>
>
>
>Think of the name of a fruit that starts with that letter
>
>
>
>
>
>
>
>
>
>
>Are you thinking of a Kangaroo in Denmark eating an Orange? Told you
>this was FREAKY!!
>
>If not, you're among the 2% of the population whose minds are
>different enough to think of something else. 98% of people will answer
>with
>kangaroosin Denmark when given this exercise.
>
>Freaky, huh?
>
>Keep this message going. This one is actually worth sending on to
>others.  Forward it to people you know and see if they can see if they
>are
>usual or unusual.

------------------------------------------------------------
Tupac: the man, the legend...the free e-mail service.
Click here -------------------->  http://www.tupac.com


?
-----Original Message-----
From:  Robert MacLellan <skyy@rocketmail.com>
To:  Rob't MacLellan <skyrocket38@yahoo.com>
Date:  Saturday, March 24, 2001 9:14 AM
Subject: This is actually tough  to read

If you decide not to forward this, please send it back to me. I  know this is
too true and so dreadful. Oprah actually had a show about this  atrocity.
This is an actual petition, and "signatures" will be lost if you  drop the
line. Please take 3 minutes out of your life to do your  part.
Madhu, the government of Afghanistan, is waging a war upon women. Since  the
Taliban took power in 1996, women have had to wear burqua and have  been
beaten and stoned in public for not having the proper attire, even if  this
means simply not having the mesh covering in front of their eyes.
One  woman was beaten to death by an angry mob of fundamentalists for
accidentally  exposing her arm(!) while she was driving. Another was stoned
to death for  trying to leave the country with a man that was not a relative.
Women are not  allowed to work or even go out in public without a male
relative;  professional women such as professors, translators, doctors,
lawyers, artists  and writers have been forced from their jobs and restricted
to their homes.  Homes where a woman is present must have their windows
painted so that she  can never be seen by outsiders.
They must wear silent shoes so that they are  never heard. Women live in fear
of their lives for the slightest misbehavior.  Because they cannot work,
those without male relatives or husbands are either  starving to death or
begging the street, even if they hold Ph.D.s. Depression  is becoming so
widespread that it has reached emergency levels. There is no  way in such an
extreme Islamic society to know the suicide rate with  certainty, but relief
workers are estimating that the suicide rate among  women must be
extraordinarily high: those who cannot find proper medication  and treatment
for severe depression and would rather take their lives than  live in such
conditions.
At one of the rare hospitals for women, a  reporter found still, nearly
lifeless bodies lying motionless on top of beds,  wrapped in their bur qua,
unwilling to speak, eat, or do anything, but slowly  wasting away. Others
have gone mad and were seen crouched in corners,  perpetually rocking or
crying, most of them in fear. When what little  medication that is left
finally runs out, one doctor is considering leaving  these women in front of
the president's residence as a form of protest. It is  at the point where the
term "human rights violations" has become an  understatement.
Husbands have the power of life and death over their women  relatives,
especially their wives, but an angry mob has just as much right to  stone or
beat a woman, often to death, for exposing an inch of flesh or  offending
them in the slightest way.
Women enjoyed relative freedom: to  work, to dress generally as they wanted,
and to drive and appear in public  alone until only 1996. The rapidity of
this transition is the main reason for  the depression and suicide; Women who
were once educators or doctors or  simply used to basic human freedoms are
now severely restricted and treated  as subhuman in the name of right-wing
fundamentalist Islam. It is not their  tradition or 'culture,' but it is
alien to them, and it is extreme even for  those cultures where
fundamentalism is the rule.
Everyone has a right to a  tolerable human existence, even if they are women
in a Muslim country. If we  can threaten military force in Kosovo the name of
human rights for the sake  of ethnic Albanians, citizens of the world can
certainly express peaceful  outrage at the oppression, murder and injustice
committed against women by  the Taliban.
STATEMENT: In signing this, we agree that the current treatment  of women in
Afghanistan is completely UNACCEPTABLE and deserves action by the  United
Nations and that the current situation overseas will not be  tolerated.
Women's Rights is not a small issue anywhere, and it is  UNACCEPTABLE for
women in 2000 to be treated as subhuman and as so much  property. Equality
and human decency is a fundamental RIGHT, not a freedom to  be granted,
whether one lives in Afghanistan or elsewhere.
1) Giuliana D.  Black, Daly City,CA,USA
2) Mariam Nayiny, Palo Alto,CA,USA
3) Sunaina  Gulati-Ruh, Palo Alto,CA,USA
4) Megan McCaslin, Palo Alto,CA,USA
5)  Blake Hallanan, San Francisco,CA,USA
6) Kit Henderson, Sacramento,CA,USA
7) Sara Myers, San Francisco,CA,USA
8) Ellen Tilden, San  Fransisco,CA,USA
9) Vanessa Ross, San Francisco,CA,USA
10) Jenna Shaw-  Battista, San Francisco,CA,USA
11) Jeanne Racik, Berkeley,CA,USA
12)  Julie Silas, Oakland,CA,USA
13) Renee Longstreet, Tarzana,CA,USA
14)  Susan Johnson, Encino,CA,USA
15) Kenneth Johnson, Encino,CA,USA
16)  Terri Treas, Los Angeles,CA,USA
17) Amy Retzinger, North Hollywood,CA,USA
18) Babette Crooms, Los Angeles,CA,USA
19) Olivia Kienzel; Santa  Barbara,CA,USA
20) Sean Dexheimer, Los Angeles,CA,USA
21) Elio Chavez,  Jr., Pasadena,CA,USA
22) Gregory Kastigar, Los Angeles,CA,USA
23) Robert  Collie, Los Angeles,CA,USA
24) Jeff Garvin, Brea,CA,USA
25) Tricia  Allen, Sherman Oaks,CA,USA
26) Joleen Nordstrom, Hollywood,CA,USA
27)  Theresa Donahoe, Martinez,CA,USA
28) Jennifer Horn, Concord,CA,USA
29)  Roxanne Ryan, Alamo,CA,USA
30) Miriam Tyler, San Jose,CA,USA
31) John  Burns, San Jose,CA,USA
32) Kristin Lynn Minick, Fort Worth,TX,USA
33)  Jeff Neal, Marietta,GA,USA
34) Anna Neal, Marietta, GA,USA
35) Frances  Murley-Fort Worth,TX,USA
36) David Murley-London,England,UNITED KINGDOM
37) Jillian Dykhouse, Colleyville,TX,USA
38) Bonnie  Dykhouse,Colleyville,TX,USA
39) Nancy Williams, Colleyville,TX,USA
40)  Georgene Farr, Sterling Heights,MI,USA
41) Joanne Arensberg,  Riverview,MI,USA
42) Luann Ouellette, Vermillion,SD,USA
43) Sandie  Sullivan, Vermillion,SD,USA
44) Troy Nelson, Minneapolis,MN,USA
45)  Joseph Miller, Minnepolis,MN,USA
46) Kathleen Miller, White Bear Lake,MN,USA
47) Jerry Marquis, Mpls.,MN,USA
48) Jul ie Stokes, Coon Rapids,MN,USA
49) Tracy Ford, Blaine,MN,USA
50) Sheila Lawrence, Monticello,MN,USA
51) Brenda Kitchen, Westlake Village,CA,USA
52) Teresa Burke, Sherman  Oaks,CA,USA
53) Bruce Ehrlich, Sherman Oaks,CA,USA
54) Yllania Francis,  Los Angeles,CA,USA
55) Drew Hedin, Los Angeles,CA,USA
56) Laura Paridon,  Laguna Woods,CA,USA
57) Jeanie Hagedorn, Des Moines,IA,USA
58) Sue  Christensen, Des Moines,IA,USA
59) Sybil Finken, Glenwood,IA,USA
60)  Luke Finken, Earth
61) Doug Gerace, Lincoln,NE,USA
62) Cheryl  Gerace,NE,USA
63) Sheri Lew,CO,USA
64) Raven Grace,Boulder,CO,USA
65) Martha M.Mertz,EL,MI,USA
66) Colleen R. Cooper,Okemos,MI,USA
67)  Barbara J. Sawyer-Koch, East Lansing,MI,USA
68) Margaret A. Meyers,  Okemos,MI,USA
69) Mary Helen Espes, Okemos,MI,USA
70) Maureen Kirchhoff,  Allenspark,CO,USA
71) Bart Johnson, Err, FRANCE
72) Sharon O'Connor,  Olympia,WA,USA
73) Nancy Irving, Tbilisi, REPUBLIC OF GEORGIA
74) Martha  Lindley, Seattle,WA,USA
75) Judith Alexander, Woodinville,WA,USA
76)  Arlene B. Hawkinson, Seattle,WA,USA
77) Christine E. Mobley, Bothell,WA,USA
78) Trudie Breen,CA,USA
79) Catherine Standiford,CA,USA
80) Beverly  Truett,AZ,USA
81) Christine Meehan,AZ,USA
82) Janice Gilbert, Valley  Center,CA,USA
83) Dawna Upchurch, Anchorage,AK,USA
84) Roxanna Groves,  Olympia,WA,USA
85) Lynda Lynde, Helena,MT,USA
86) Constance Gelu,  University Place,WA,USA
87) Jodi Woolett, Tacoma,WA,USA
88) Lisa I.  Reeves- Lynden,WA,USA
89) Amanda James-Bow,WA,USA
90) Kelli J. Smith,  New Port Richey,FL,USA
91) Chris Poirier, Largo,FL,USA
92) Mike  Carpenter, Palmetto,FL,USA
93) Alice Pryor, Melbourne,FL,USA
94) Ellen  Catano, Manchester,NH,USA
95) Bevely Jennings, Cincinnati,OH,USA
96)  Linda Feely, Norwood,OH,USA
97) Sherry Stidham, Norwood,OH,USA
98)  Brittany Brown, Cincinnati,OH,USA
99) Sandy Brown, Cincinnati,OH,USA
100)Tim Br


Further to our telephone discussion today with Jason Peters who I couldn't
find on email. I did some checking around. The clause (which incidently
normally has a paragraph (d))seems  to be only found in the CBA Agreements.
Its purpose is a little uncertain. If the Broker was holding a Client's money
then by law he must account for it.

The reason why there ARN Ambro may be reluctant to accept the clause is
because the instances it addresses would probably fall within the definition
of an "undesirable market event" under the SFE rules. This would trigger
action by the Board of SFE to sort out the mess. It may uncertain as to how
these contractual would fit in


FYI - I would like to meet with both of you to discuss same (preferably after the 10/8 meeting).  Please let me know your thoughts.
Regards,
Ed

 -----Original Message-----
From: 	McMichael Jr., Ed
Sent:	Friday, October 05, 2001 9:19 AM
To:	Breslau, Craig; Lagrasta, Fred; Josey, Scott; Luce, Laura; Mrha, Jean; Redmond, Brian; Tycholiz, Barry; Vickers, Frank W.
Subject:	Gas Structuring Communication Session Agenda for 10/8 Meeting

Thanks againg for sharing your thoughts and opinions in our 10/3 meeting.  In an effort to make our 10/8 meeting as productive as possible, I have put together an agenda (attached) for the Monday afternoon meeting.  It would be most helpful if you could review the agenda prior to the meeting and come ready to discuss your thoughts related to the discussion items.  If the discussion items do not address your primary issues, please let me know so I can either modify the agenda or include it in the next meeting.  If you have any questions, plese ask.
Regards,
Ed


John, Please look into this.  Thanks.  Jeff
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/26/2000
12:18 PM ---------------------------

	From:  George McClellan                           10/26/2000 09:32 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: LPG for China

Jeff - Franz Klem of EVN is a good friend of mine - and most recently our
best customer for coal in Austria.  He is real pissed at the way our LPG team
has handled the Sinopec Jingling Petchem business, and made it clear to me
that he is looking for us to hop in and lend a hand.   EVN has done business
with the project, and apparently have had positive results to date.

The "Manfred" mentioned in his email is Manfred Ungetheum of our office in
Germany.  I would appreciate your checking into what is going on, and why we
are not paying proper attention to these guys.

I will be in on Monday.  Thanks.

George
---------------------- Forwarded by George McClellan/HOU/ECT on 10/26/2000
03:22 PM ---------------------------

Klemm Franz <Franz.Klemm@evn.at> on 10/26/2000 05:36:48 AM
To: "'gmcclel@enron.com'" <gmcclel@enron.com>
cc: "'hofer-austria@aon.at'" <hofer-austria@aon.at>
Subject: LPG for China

Dear George,

I was pleased to see you in Madrid unfortunately we had to less time for
some beers or wodkas. At the moment I am out of office for another two days,
today we have a state holiday and tomorrow I will take one day off. I have
to keep up my golfing a little bit.

George, you promised me to have a look at the LPG deliveries to China, the
situation again is as follows:

My very good friend Wolfgang Hofer has good contacts to the SINOPEC JINGLING
PETROCHEMICAL Corp., Najing, China. They plan the retrofitting and enlarging
of their polypropylen capacities for about 120.000 mtons/year. As a raw
material they need LPG and the production should start at the beginning of
2001. They want a longterm contract for 300.000 mt/y with increasing option
to 400.000 mt/y. Further they are looking for a delivery already this year
50 to 60.000 mt.
Mr. Cheng Zu Shan, the chief of planning and finance dept. was already in
Vienna and met Wolfgang Hofer. Manfred introduced Wolfgang to Tracy Wallace
and than to Eric Hanson and now we are waiting for any answer from ENRON
since weeks.

May be it is interesting for ENRON because there will be a second trading
option when Jingling offers you the products.

Please George have an eye on that business because Wolfgang has to answer
his Chinese partners very soon.

Herewith I send the name and address from Wolfgang, for the direct contact
to him:

Wolfgang Hofer
Plataverde Anstalt
Vertretungsb_ro in Tsterreich
Tel. +43 2622 663300
Fax. +43 2622 27631
GSM: +43 664 3553603
hofer-austria@aon.at <mailto:hofer-austria@aon.at>

Specification: LPG
Component VOL%
Ethane 0.31-1.15
Propane >95%
Iso-butane 0.91-1.31
n-butane 0.05-0.73
>C5 0-0.02
Copper corrosion Test 37.8 0C 1A
Total sulfide (ppm) <3
Hydrogen sulfide Nil
Free water Nil
Olefin hydrocarbon Nil
Density 15.6 0C 0.5050
Ageing Test ( 95% evaporate) 0F -40

Dear George, I thank you so much for your help, I wish you a nice weekend
and remain with best regards
Yours
Franz


Best of luck in your new endeavors--I imagine MA will be a beautiful
area

-----Original Message-----
From: Mary.Hain@enron.com [mailto:Mary.Hain@enron.com]
Sent: Friday, March 23, 2001 10:24 AM
Subject: I'm Leaving Enron

I am going to be the Senior Regulatory Counsel at ISO New England starting
on April 9, 2001.   My last day in the Portland area will be March 31,
2001.  I enjoyed working with you and wish you the best of everything.  My
new address will be:

Mary Hain
Senior Regulatory Counsel
ISO New England Inc.
One Sullivan Road
Holyoke, MA  01040-2841
(413) 535-4000
mhain@ISO-NE.com


Shirley,

No problem.

Vince

Shirley Crenshaw
04/18/2000 08:00 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Kevin G Moore/HOU/ECT@ECT, William Smith/Corp/Enron@ENRON
Subject: Vacation

Vince:

If it is allright, I would like to take two days vacation, Monday and Tuesday
April 24 and 25.

Please let me know.

Thanks!


do you want to go :>)?
---------------------- Forwarded by Eric Bass/HOU/ECT on 02/20/2001 01:37 PM
---------------------------

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 02/20/2001 01:03:57 PM
To: eric preston bass <Eric.Bass@enron.com>
cc:
Subject:

Good afternoon. Welcome home. Heard from your  Mother that they took some of
your money. That's too bad. I have never let them  take my money! By the way,
Uncle George is having an 80th birthday party this  Sat., Feb. 24, @ 5p.m. @
Luther's BBQ, 27752 I-45 N.,, across from the Woodlands  Mall. We are going.
You are invited. If you intend to go you should RSVP to Vera  @ 281-379-5252
or Rebecca @ 281-367-8470. Have a good  week.-Dad


---------------------- Forwarded by Darron C Giron/HOU/ECT on 09/05/2000
08:22 AM ---------------------------

Carlos Giron <cgiron@mindspring.com> on 09/04/2000 02:49:38 PM
To: Brian Subieville <BSubie@aol.com>, Dan Low <ddlow@hotmail.com>, Darron C
Giron <dgiron@enron.com>, Francine Mayers <luvnlifpt@aol.com>, Glenn Bohan
<gbohan@home.com>, Grant Whipple <grant.w@mindspring.com>, Jesssie Saucier
<JJSauce@aol.com>, Kent & Karen Pope <kwpope@pdq.net>, Lola Savannah
<lola@pdq.net>, Michael Massimi <massimi@hotmail.com>, Olivia Honn
<ohonn@tiger.lsuiss.ocs.lsu.edu>, Ronnie Giron <ronniegiron@yahoo.com>, Trudy
Mayers <Trudy_Mayers@urscorp.com>
cc:
Subject: friday dinner plans

Open word document and accompanying images.  Let me know if you have any
problems!

 - Friday dinner plans.doc


Neal:

Here is the price curve information.  It is responsive to Item 10 of the
previous requests.

Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 10/31/2000 08:40 AM -----

	Eric Boyt@ENRON
	Sent by: Eric Boyt@ENRON
	10/30/2000 04:07 PM

		 To: Jeffrey T Hodge/HOU/ECT@ECT
		 cc:
		 Subject:


So funny  !!!!!!!

 <<Snowman%20Show.pps>>

******************************************************************
This email and any files transmitted with it from El Paso
Energy 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.
******************************************************************

 - Snowman%20Show.pps


Hi again,

 Some of you have been kind enough to supply me with information that can be
used for the strategic plan (I am writing for Duffie).

 To assist you in gathering further information, it was suggested that I
forward a preliminary outline of this strategic plan to your attention.

Thanks in advance for your assistance,
Iris

Table of Contents

Executive Summary
Highlights

Introduction
What is Enron Credit?
What is the business plan?
What are the products planned?
Current status: what we currently trade, how we price.
What new models we need to achieve goals.
What attempts are being made internally and what external commercial sources
are available.

SWOT Analysis
Strengths
Weakness
Opportunities
Threats

Pricing Approach
A diagram illustrating how various models are tied together for the overall
objective of coming up with final CDS and DBS pricing.
Brief description of each model shown in the diagram.

Public Firm versus Private Firm
What we have as first cut for modeling primarily public firms.
Our understanding on public versus private firms, credit risk
characteristics, data availability and possible modeling approaches.
Our proposed approach/plan towards development of private firm model,
including comparative analysis, model development, etc..

Portfolio Level Business Feasibility Analysis
Accounting Breakeven Analysis
Portfolio Theory

Alternative (Short term) Measures
KMV, Private Firm  Model
Moody,s RiskCalc Model for Private Firms
Comparison of KMV vs Moody,s Private Firm model

Future Strategy
Development of private firm pricing models (short- and long- tenor models0
Completion of Parent/Subsidiary Model
Risk Management Model for ECT Business

References


Jay, Jeff received a call yesterday from a 2nd year HBS student and
co-founder of a B2B commerce company - Franz Edward Alphonse - who wanted to
speak to Jeff (for the ever-popular "5 minutes") about his company.  Jeff has
asked that you follow up with this gentleman.  His phone number is
617.493.5597.

(Karen, I'm copying you in the event you have any information on Mr. Alphonse
- i.e., did he interview w/Enron and if so, how did he do).

Thanks, Jay.  Please send Jeff a note with any update once you have spoken to
Franz.

SRS

PS - I'm back from Italy and ready to have that drink whenever it works for
you and Greg.  I understand he's out for a few weeks now while he moves his
family to Houston...


I actually am going on vacation this saturday and coming back next sunday.
How about the following saturday


We just opened the above counterparty to trade UK financial crude products
online.  Since the Enron counterparty for these products is ECTRIC we will
need to get a master in place between ECTRIC and Counterparty.  Justin Boyd
in London has graciously agreed to let us handle drafting and negotiation of
the master.  Could you please provide us with credit for this master.  I
don't know if we can just mirror the credit terms in the old master or not.
Since the old master is a Local Currency Master, we cannot do a simple dupe
and change it for UK issues.  I would suggest unless we really have problems
with issues, we more or less try to sign the same paper whenever possible.

Of course, send the credit worksheet for the new master to the paralegals for
the rotation.


Mike, Clint-

I've done some more research on water usage and have some revised consumption
rates which are less than what I told you last week.

Using the rates that I have listed below, if you run 5 days/week (weekdays),
16 hours/day (not 15 as I previously mentioned) say 6 am to 10 pm, at GE's
worse case consumption rate (+20% margin) , the tank will just be empty
Friday night (10 pm) at the end of the 16 hour run.  I then takes
approximately 42 hours to refill the tank.  (filling is completed by late
Sunday afternoon)

At GE's "expected" consumption rate (no margin), the consumption rate is so
much better that you could potentially run for 15 days straight, at 16
hours/day before you exhausted the tank.

Next week when we run the performance test, we will know exactly what the
actual consumtion rates will be.  In addition, I think (hope) that there
might be some additional capacity in the demin plant.  The 120 gpm number is
the guarantee from the vendor and at that rate the water quality is better
than what we need.  I'm going to see if I can get someone to increase the
flowrate until we are just at the limits for water quality.  I'll let you
know what that number is.

I do agree with you in that extra demin capacity is a no brainer.  Hopefully
by the end of next week, I will know exactly how much extra we would need.

By the way, there is one additional piece of info that I was informed of
today.  I been told that there is some language in the participation
agreement that says our variable O&M costs increases after we exceed 1300
hours of operation.

Hope this helps.  If you have questions, give me a call.  I'm in Austin all
week.

Thanks,
Eric Booth
x54683
(713) 412-6873 (c)

Consumption/Make-up Rates:
Demin plant make-up rate: 120 gpm
Demin Tank capacity:  300,000 gallons

Maximum or worse case Consumption rate of the plant with all four units
running full load:  236 gpm  (this has a +20% margin included by GE)
Therefor, when the plant is running, net drawdown rate on the tank is
(236-120) = 116 gpm

Expected consumption rate for the plant with all four units running at full
load:  197 gpm (this does not have any extra margin included)
Therefor, when the plant is running, net drawdown rate on the tank is
(197-120) = 77 gpm


Vince, Tani

FYI.

Steve
---------------------- Forwarded by Steven Leppard/LON/ECT on 10/11/2000
10:27 ---------------------------

	Calendar Entry

Research Meeting w/-Michael, John, Tani, Richard, Joe, Steve & Vince Kaminski
Brief description:
Date:
Time:

13/11/2000
15:00 - 15:45

Detailed description:

 Invitations

		Phone/Ext	Include
Chairperson:	John Sherriff/LON/ECT	37359	  Yes
Organised by:	Lauren Urquhart/LON/ECT		  No

Invitations sent to:	Tracie McCormack
Kirsten Nelz
Steven Leppard

This meeting repeats   starting on    (if the date occurs on a weekend the
meeting ).


Each of you have heard from either Mitch Taylor or myself regarding our
concerns about the terms of our offers for new analysts.  I am forwarding
this e-mail to each of you as further confirmation of the anecdotal evidence
we have heard concerning how low our offers are as opposed to banks,
consulting firms and even El Paso and Dynegy.  Steve and I have known each
other since our undergraduate days and as you can tell from the attached he
is a great Enron supporter on campus.  For everyone's information we have
made 4 offers to Baylor undergrads and I will be surprised if we get any
acceptances (one of the guys has already accepted with Chase for $20,000 more
than our offer and told me that El Paso and Dynegy are both offering about
$10,000 to $15,000 more than we are, not insignificant to an undergrad).  I
am concerned that if we are low at Baylor (where we have concentrated on
identifying the top 4 or 5 students) that the problem will be pervasive and
our acceptance rate will be very low or only improved by students who didn't
receive other offers (i.e. average performers).

Thanks for your time.

---------------------- Forwarded by Bill W Brown/HOU/ECT on 12/02/2000 10:14
AM ---------------------------

Steve Rich <Steve_Rich@baylor.edu> on 12/01/2000 03:59:11 PM
To: bill.w.brown@enron.com
cc:
Subject:

Hey Bill,

I've been asking around about job offers for some of our top students.  I
haven't talked to everyone who has received Enron offers but I thought you
might want to know that for everyone I've talked to thus far, Enron is the
low offer....sometimes by a large gap.  I know that one person got offered
one and a half times what you offered by another firm (not an investment
banker!).  I have heard through my sources that you were disappointed last
year that no one from Baylor accepted one of your offers.  I am also very
interested in you guys getting some Baylor folks.  I consider Enron to be a
premium place for our folks to go...for several reasons....including the
high praise I hear from my former students who have gone to work there.

The folks I talked to here didn't seem like they even wanted me to mention
this to you....but I wanted to make sure you knew that you were really
underbidding for our folks.

By the way...the 4 offers that Enron made to Baylor people (that I know of)
were all to top quality folks...but I guess you knew that.

Also, I hear you were promoted yet again.  Congratulations.

Steve Rich
Associate Professor of Finance
Baylor University


Please prepare a contract per terms of the attached credit worksheet.

thanks
brant


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It will have to be lunch.  We'll say Tuesday at noon.  I'm flying out for
good on the 1st.  I'll meet you on the thirteenth floor.  I'll try to bring
Pete too.

From: Douglas Nichols/ENRON@enronxgate on 03/25/2001 05:34 PM CST
To: Mary Hain/HOU/ECT@ECT
cc:
Subject: Re: Fwd: I'm back

That's really nice of you Mary.  I'd like to return the favor some time.  I'm
having a medical procedure Friday afternoon that I'd just as soon not describe
- except to say I might not be in too good a shape Friday evening.  Will you
guys be back in town after your trip East long enough to spend an evening with
you?  If not, let's at least do lunch some day next week - I have Tuesday thru
Thur open - and would love to have Pete join us - my treat.  dn

>>> Hain, Mary 03/25/01 04:09PM >>>
We're flying back East on Sunday.  You are invited to come over Friday
evening, if you like.  Some of our other friends have asked to get together so
we're inviting people for pot luck.  we'll supply the beer.  Feel free to
bring your mom too. Or we could do something else, before Sunday.

From:    Douglas Nichols/ENRON@enronxgate on 03/25/2001 05:02 PM CST
To:    Mary Hain/HOU/ECT@ECT
cc:
Subject:    Re: Fwd: I'm back

You're welcome.  I talked to Janet last night - would you and Pete be able to
make dinner at our house next weekend - perhaps Sunday night?  dn

>>> Hain, Mary 03/25/01 03:52PM >>>
Thanks for sharing.  She's just adorable!

From:    Douglas Nichols/ENRON@enronxgate on 03/24/2001 12:17 PM CST
To:    Mary Hain/HOU/ECT@ECT
cc:
Subject:    Fwd: I'm back

Mary,
I told you I had a picture of Stan's new addition - here it is.  dn

-----Original Message-----
Date:  03/09/2001  10:23 am  (Friday)
From:  "Berman, Stan " <SBerman@HEWM.com>
To:  "'douglas_nichols@pgn.com '" <douglas_nichols@pgn.com>
CC:  "'jim_piro@pgn.com '" <jim_piro@pgn.com>
Subject:  I'm back

Hi,

Over the past weeks, I have been staying at home with my new daughter (a
picture is attached, though it does not do her justice).  Monday, March 12,
I intend to return to the office.

My sense is that Paul Mohler has been doing a fine job running the rate
case.  I hope you agree -- if not, please tell me.  I intend to start
reintegrating myself into the RTO West/TransConnect work, and will call to
discuss -- I'm writing now to get you thinking about it.

Stan


At the request of Bob Shults, I am enclosing a clean and redlined copy of the
Non-Disclosure Agreement revised to include your comment.  If the enclosed
meets with your approval, please have the agreement executed and return a
copy to me via fax no. (713) 646-3490.  I will then have it executed by Enron
and return a copy to you via fax.


Janet, he can approve but can't sign as a director. You need to continue to
manage. This would take a board resolution to change (ie) he can not bind the
company as a director.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/09/2000
11:55 AM ---------------------------

Janet R Dietrich
10/08/2000 02:22 PM
To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT (bcc: David W Delainey/HOU/ECT)
Subject: Signature authority

Kay, as we discussed previously:

Effective immediately, I would like Ben Jacoby to have signature authority
for his team's expense reports as well as all documents whose capital
commitments are not greater than $250,000. Most documents will be
confidentiality agreements, exclusivity agreements, permit applications, and
land/equipment option agreements.

Please forward this (if need be) to the appropriate internal individuals who
get this set up. Thanks Kay.


Jennifer Sleboda
Silver Spring, MD 20910
jensleb1@yahoo.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,

Jennifer Sleboda


This is to nominate 75,000 MMBtu/d into Eastrans for 3/4/2000 and following.

We will deliver 50,000 into PG & E, 7,000 from Fuel Cotton Valley (continue
750
MMBtu/d sale),
and  18,000 MMBtu/d into your cartwheel agreement at Carthage.


Shirley,

Please, register me for this conference.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/21/2000
09:10 AM ---------------------------

Daniel Yergin <DanielYergin@CERA.com> on 11/16/2000 02:50:06 PM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: 20th Annual CERAWeek - "Shooting the Rapids: Strategies and Risks
for the Energy Future"

Mr. Vincent J. Kaminski
Managing Director
Enron Capital & Trade Resources Corp.

Dear Mr. Kaminski:

I am pleased to invite you to join my CERA colleagues and me at our 20th
annual Executive Conference, "Shooting the Rapids: Strategies and Risks for
the Energy Future" to be held February 12-16, 2001 in Houston, Texas.? This
is the premier international gathering offering senior executives new ideas,
insights and strategic thinking on the issues facing the global energy
industry.

I believe you will find the conference and related social events timely and
of considerable value.? Our focus will be on the critical implications of the
current market turmoil for energy strategies, investment, regulatory
backlash, competitive dynamics, and industry structure.? Presentations cover
all key regions and energy sectors -- oil, natural gas and power -- and their
interconnections.? The conference is the centerpiece of CERAWeek, a full week
of senior level meetings designed to foster exchange and learning, as well as
informal interaction and networking.? Last year's participants included some
1600 executives from over 57 countries.

Complete details on CERAWeek 2001 can be found at?
http://www.cera.com/cfm/track/mc.cfm?p=670&c=2804? . To register, please go
directly to http://www.cera.com/cfm/track/mc.cfm?p=781&c=2804? ; email
register@cera.com; or call us at 1 (800) 879-2372 ext. 800 (outside the U.S.
(617) 497-6446 ext. 800).? I hope you will join us!

Sincerely,

Daniel Yergin
Chairman, Cambridge Energy Research Associates

Should you experience problems reaching the web site using the links above,
please go to http://www.cera.com/ceraweek/
*****************************************************************
Our relationship with you is very important to us.? If you wish not to
receive future e-mail notifications, please send a reply to this message with
"DoNotEmail" as the subject of your message. (
mailto:info@cera.com?subject=DoNotEmail )? Please indicate whether you wish
to be removed from the conference list or alternatively from the list for any
future CERA notifications.

*****************************************************************


Here are possible Q's.  Dan W. will prepare first cut at answers.

Questions for January 31 Hearing

Price Gouging
?   On January 22, your company reported fourth-quarter results for
2000, in which you showed that profits from your energy trading unit rose
256 percent and your overall earnings rose 34 percent.  How much of this was
attributable to increased sales in California?  How much did you make from
sales in California?
?   What is the highest per kilowatt-hour price Enron charged on the
spot market?  What is the cost of production for that power?
?   In a recent Houston Chronicle article (January 23, 2001), Mr.
Skilling, your CEO was quoted as saying that not only had the California
situation not had an impact on earnings, but that "it may even turn out to
be a benefit in the long run."  Can you please explain the long-term
benefits you expect?
?   In a recent New York Times column by Paul Krugman, Ken Lay was
quoted as saying that California consumers "need to see the price signals
that is, pay much more and start modifying behavior to reduce demand until
we get more supplies."  What did Mr. Lay mean by this?  With the tremendous
profits that Enron is making in this situation, isn't it pretty brazen for
him to be suggesting that California consumers should pay more for their
power?

Market Manipulation
?   A number of generators and wholesalers, including Enron, have been
accused of withholding energy to drive up energy prices in the Western
states.  I understand that you are being sued in state court in San
Francisco for such activities and an independent monitor has supported these
allegations.  Does Enron currently have any generation assets off-line for
maintenance?  Did Enron make all of its generated power in the Western
states available for purchase by California utilities?  If not, why did it
withhold power?  How much did you withhold or sell in other states despite
knowing of the crisis in California?
?   At the time that the spot market collapsed and two of California's
largest utilities were teetering on the verge of bankruptcy, what price was
Enron asking for its power on the spot market?  What was Enron's cost of
producing that power?  How much profit did you make in December from sales
in California?
?   Did Enron ever refuse to sell power to a California utility because
of concerns about their credit worthiness?  Did your company ever tell
California utilities that it would not sell power to them because of credit
concerns?
?   Do you believe that Enron has any responsibility as a corporation in
a crisis such as occurred in California?  How do you justify making such
large profits, driving the utilities into bankruptcy and then refusing to
sell power to those same utilities because of their credit worthiness?

Utility Forbearance & Auction
?   California clearly has a significant problem with the potential
bankruptcy of two of its largest utilities.  How much money do those
utilities owe your company?  Has your company offered any payment
forbearance or forgiveness in light of the excessive prices that you were
charging them on the spot market for power?
?   California held an Internet auction last week for long-term
contracts for sale of power to the state.  Did Enron participate in the
auction?  What price did you offer for power in non-peak times?  What price
did you bid for power during peaking periods?
?   Your company has successfully gouged the utilities in California for
power on the spot market because long-term contracts were discouraged.  Now,
you are looking to enter into long-term contracts, which many experts
believe will be at rates far above the market in the future.  You really are
going to profit coming and going.  How can you claim that you are not price
gouging in this case?
?   In the past, you have offered power to California utilities in
long-term contracts at rates less than $.06 per kilowatt-hour.  How do you
justify previously offering power at much lower rates and now saying that
you are unable to provide it for less than a much higher price?

Role in California Deregulation
?   Your company was supportive of the California deregulation efforts
and has been a leading supporter of deregulation nationwide.  In light of
the "colossal failure" of the effort in California, do you still support
deregulation in other states or at the federal level?  What safeguards would
you support to protect against increased rates for consumers?

The Future
?   California is likely to enact a legislative fix to address this
problem.  What do you think will happen this summer during peak demand
periods?  Is there another crisis in the making in California or in other
states such as New York?

Political Contributions & Activities
?   Your company has been very active politically and according to press
reports, Mr. Lay is very close to President Bush.  Wasn't your company one
of the biggest donors to the Bush Campaign and the Inaugural Committee?  How
much money did your company contribute in soft money to the Bush Campaign
and the RNC?  How much money did your executives give in personal money to
the Bush Campaign and the RNC?  How much to the inaugural?
?   Has anyone from Enron participated in the Bush transition teams or
the so-called "advisory committees?"
?   What information and suggestions has your company or its officials
provided to the transition team or the new Administration regarding energy
deregulation or the California situation?
?   What discussions have officials from your company had with
Administration or Transition officials about the California situation?

Softball Questions

?   In the short term and then in the long term, what can California do
to fix its power supply system?
?   What do you believe are the flaws in the current California system?
The Power Exchange?  The Independent System Operator?
?   Why did deregulation fail in California?
?   Some people, including Governor Davis, have suggested that
out-of-state power suppliers, such as Enron, are to blame for this crisis,
is that true?
?   Some people in California have suggested that the State should take
over the power system.  Please comment on this proposal.  Is this a good
idea?
?   In which states has deregulation worked?  How do you explain the
success in those states in contrast with the failures in California?
?   This Committee will likely consider deregulation legislation at some
point in the future.  Should we undertake this effort?


This new version of the database will run 30% to 70% faster (depending on
your computer).

Please delete any shortcuts to the database that you may have on your desktop
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Regards,

Eugenio


I think that is for James W Lewis (Jay).
Jim

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Monday, November 19, 2001 2:14 PM
To:	Fite, Rebecca; Hughes, Evan; Black, Don; Keller, James; Wood, James M.; Gahn, Scott; Bertasi, Ron; Vanderhorst, Barry; Gustafson, Ken; Lewis, James C.; Sharp, Greg
Cc:	Sharp, Vicki; Montovano, Steve; Kingerski, Harry
Subject:	EEMC Gas License in MD - Agenda for 11/21

EEMC has filed in MD for a gas license.  It is on the calendar for this Wednesday.

There have been a number of letters sent dealing with "questions" on our license.  Govt Affairs is concerned that this will be voted down by the PUC given everything that is going on with the company and our incomplete record.  We would recommend that the agenda item be removed this week and we deal with the outstanding issues.

If anyone has a significant reason not to pull the item, please let me or Harry Kingerski know as soon as possible.

Thanks,

Jim


See last article, Squawbox.
 -----Original Message-----
From: 	Schmidt, Ann M.
Sent:	Thursday, October 25, 2001 1:22 PM
Subject:	Enron Mentions

Fitch Puts Enron On Rating Watch Negative
Bloomberg, 10/25/01

STOCKWATCH Enron higher after dismissing CFO Fastow
AFX News, 10/25/01

DJ Concerned Energy Cos Make Few Changes In Enron Dealings
2001-10-25 14:13 (New York)

Calif Guarantees Allow Williams To Book Power Revenues
Dow Jones Energy Service, 10/25/01
Stocks Expected to Open Lower, Hurt By Weak Economic News
Dow Jones Business News, 10/25/01

Kaplan Fox Seeks To Recover Losses For Investors Who Purchased E
Bloomberg, 10/25/01

Enron CNBC: Squawk Box,
10/25/01

Fitch Puts Enron On Rating Watch Negative
2001-10-25 13:49 (New York)

Fitch Puts Enron On Rating Watch Negative

Fitch-NY-October 25, 2001: Fitch places the following Enron
securities on Rating Watch Negative: senior unsecured debt
`BBB+'; subordinated debt `BBB'; preferred stock `BBB-`;
and commercial paper `F2'. Pipeline subsidiary `A-` rated
senior unsecured debt at Northern Natural Gas Co. and
Transwestern Pipeline Co., are also placed on Rating Watch
Negative.

The rating action primarily relates to the negative capital
market reaction to recent disclosures by the company. The
loss of investor and counterparty confidence, if it
continues, would impair Enron's financial flexibility and
access to capital markets, therefore, impacting its ability
to conduct its business. On Oct. 16, 2001, Enron announced
a $1 billion after-tax charge to earnings to be taken in
the third quarter of 2001 and a reduction of balance sheet
equity by $1.2 billion relating to the unwinding of
structured transactions. Since that time, there have been
several damaging news reports on the company and its
management. More importantly, investors have voiced
concerns. Enron's common stock price has plummeted and
spreads on its debt have widened.

The company has attempted to quell rumors and has publicly
stated that it has adequate liquidity to conduct its
business. Approximately $1.5 billion of unused liquidity is
available under committed bank lines.

An additional concern is that certain structured
transactions of the company including Marlin Water Trust II
and Osprey could unwind. While various sources of repayment
exist, such as the sale or liquidation of underlying
assets, or an equity offering, primary credit support is
derived from the Enron obligation to remarket mandatorily
convertible preferred stock if an amount sufficient to
repay the notes has not been deposited with the trustee 120
days prior to the maturity date or upon a note trigger
event. In the event that the issuance of the preferred
stock yields less than the amount required to redeem the
senior notes in either case, Enron is required to deliver
additional shares. If Enron cannot or does not deliver on
its obligation, then the amount of the deficiency becomes a
payment obligation of Enron, representing a general
unsecured claim. While trigger events include a downgrade
of Enron's senior unsecured debt below investment grade by
one of the major rating agencies in conjunction with
specified declines in Enron's closing stock price over
three consecutive trading days, Enron would have a
forebearance period of 60 days as long as an attempt was
being made to register the shares. The total amount of
Marlin and Osprey debt is approximately $3.2 billion. Enron
has not verified that the underlying assets have adequate
market value to fully pay down the associated debt.

While capital market uncertainties have escalated, Fitch
has no information to indicate that there are any
fundamental problems with Enron's core wholesale, retail,
and pipeline businesses. Fitch expects to be in contact
with the company on a continuing basis to both monitor
ongoing events and address strategic, longer-term issues.

STOCKWATCH Enron higher after dismissing CFO Fastow

10/25/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

NEW YORK (AFX) - Share of Enron were higher in opening trade, after the company dismissed its chief financial officer, Andrew Fastow, due to his past involvement in running two partnerships, in which Enron had invested, dealers said.
At 9.56 am, Enron was up 1.13 usd, or 6.95 pct, at 17.55. The DJIA was down 138.60 points at 9,207.52, the S&P 500 index was down 15.95 pts at 1,069.00 and the Nasdaq composite down 39.02 at 1,692.52.
Enron said it named Jeff McMahon CFO to replace Fastow, after announcing Monday that the Securities and Exchange Commission is looking into the Fastow-related transactions.
"In my continued discussions with the financial community, it became clear to me that restoring investor confidence would require us to replace Andy as CFO," said chief executive Kenneth Lay in a statement.
Enron shares have fallen sharply in recent days on concerns over financial transactions made with the two partnerships, LJM Cayman LP and LJM2 Co-Investment LP, which analysts said could affect future earnings and which have prompted class action suits against the company.
McMahon, who had been serving as chairman and CEO of Enron's Industrial Markets group, had quit his job as treasurer last year, after voicing concerns within the company about Fastow's role in running the two partnerships, according to the Wall Street Journal.
This morning, Salomon Smith Barney analyst Raymond Niles downgraded Enron to "buy- speculative," from "buy-high risk", to reflect his concerns that "lingering uncertainty over financial practices may begin to impair Enron's commercial operations."
"This is the least likely outcome, in our view, but one whose likelihood has increased over the last week as questions continue to be asked," he said.
ng/lj For more information and to contact AFX: www.afxnews.com and www.afxpress.com

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

=DJ Concerned Energy Cos Make Few Changes In Enron Dealings
2001-10-25 14:13 (New York)

   By Mark Golden, Kristen McNamara, Jon Kamp and John Edmiston
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Energy trading companies have concerns about the credit
quality of troubled Enron Corp. (ENE), but they have made almost no changes in
policies concerning the top trader of North American power and gas, the
companies said Thursday.

  The concerns have arisen because Enron, which accounts for about a quarter of
the trade in the country's power and gas markets, has seen its share price fall
by a third this week due to uncertainties about its extremely complex financial
structure.

  Moody's has put Enron's credit on watch for possible downgrade, and some of
the company's debt is trading like junk bonds in the secondary market this
week.

  "We have made no changes to our credit policy concerning Enron," said John
Sousa, chief spokesmann for Dynegy Inc. (DYN). "It's business as usual."

  Williams Cos. (WMB) spokesman Jim Gipson said that his company, too, has made
no changes and has no concerns about Enron's credit. Another Top 10 power and
gas trading company, Aquila (ILA), has also left Enron credit unchanged.

  Other companies expressed concern, though they've taken little if any action.

  "Like everyone else in the marketplace, we're proceeding with caution," said
Lora Kinner, director of credit for Tractebel Energy Marketing, the North
American subsidiary of the Belgian company Tractebel S.A.

  Kinner said the company is just looking for more information and doesn't
expect to make any drastic changes.

Calif Guarantees Allow Williams To Book Power Revenues
By Andrew Dowell
Of DOW JONES NEWSWIRES

10/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Clarifications by California as to what electricity transactions the state will back enabled Williams Cos. (WMB) to book $180 million in power sales from the previous period as third-quarter revenues, the company said Thursday.
The revenues came from power Williams sold through the California Independent System Operator, which runs the state's wholesale power market and clears and settles transactions.
The state of California has paid more than $11 billion for power bought directly from suppliers, but has yet to pay for any ISO power since it took over the job of buying power for the state's ailing utilities in mid-January. Two weeks ago, however, the state made clear for the first time which ISO transactions it would back.
"It's that fact that has allowed us for the first time to recognize dollars from sales to the California ISO," Williams Chief Operating Officer Steven Malcolm said on a conference call Wednesday.
Williams reported third-quarter net income of $221.3 million on revenues of $2.81 billion, up from $121.1 million on revenues of $2.33 billion in the same period the year before.
Williams is now in talks with California to secure payment for its ISO sales. The process is complicated by the state's role as guarantor of transactions undertaken on behalf of the utilities, which aren't creditworthy enough to buy power for themselves. The ISO didn't envision third-party guarantors when it set up its settlement process, and state accounting rules require more detailed bills than those sent out by the ISO each month, state power officials have said.
The state says it has set aside $1.2 billion to cover ISO transactions.
As reported, suppliers including Williams had charged the state with deliberately muddling the repayment issue to keep power flowing for free.
Willing To Renegotiate

Separately, Williams' officers also said the company was willing to discuss reworking its long-term contracts with California, provided the result benefited both parties.
California Gov. Gray Davis is under heavy fire for having locked the state into contracts running as long as 20 years at prices negotiated at the peak of a market that has since collapsed.
Both sides could potentially benefit from changes to the length of the term of the contracts or the specifics of power-supply obligations - perhaps freeing up supply that Williams thinks it could get more money for on the spot market, Malcolm said.
"We're always willing to sit down with a customer," Malcolm said.
Williams hasn't been approached by the state to renegotiate the contracts, Malcolm said.
Any attempt by California to force through one-sided changes is unlikely and could backfire for the state by disrupting plans for new power plants, he said.
"To the extent contracts are changed, financing is going to go away," he said.
Downplaying Enron Opportunities

Williams downplayed its ability to capitalize on the recent troubles of market-leader Enron Corp. (ENE), saying it focuses on large, long-term structured deals, not the high-volume, physical-market transactions that Enron dominates, Malcolm said.
Also, TradeSpark - the Internet-based energy exchange in which Williams is a partner - is limited for now in its ability to expand and take volume from Enron's proprietary system EnronOnline because of the horrific losses operator Cantor Fitzgerald (X.CFZ) suffered in the attacks on the World Trade Center.
"That's interrupted the rapid growth we were seeing," Williams Chief Executive Keith Bailey said on the call.
Enron, which accounts for about a quarter of the trade in the country's power and gas markets and which makes a market for those commodities on EnronOnline, has seen its share price fall by a third this week due to uncertainties about its extremely complex financial structure.
Those concerns have raised questions about the business model of EnronOnline, a platform on which Enron is the counterparty in all trades. Those concerns could eventually boost volume on neutral exchanges like TradeSpark.
"We continue to believe in the neutral platform that TradeSpark offers," Malcolm said.
TradeSpark LP was formed by eSpeed Inc. (ESPD), Cantor Fitzgerald (X.CFZ), Shell (RD) unit Coral Energy, Dominion (D), Koch Energy Trading Inc., TXU Corp.'s (TXU) TXU Energy unit and Williams Cos.' Williams Energy Marketing & Trading Co.
-By Andrew Dowell, Dow Jones Newswires; 201-938-4430; andrew.dowell@dowjones.com

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

Stocks Expected to Open Lower, Hurt By Weak Economic News

10/25/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

A Wall Street Journal Online News Roundup
Stocks are expected to open with losses Thursday, weighed down by disappointing U.S. economic news and the European Central Bank's decision to leave interest rates unchanged.
About an hour before the New York Stock Exchange opened, futures on the Standard & Poor's 500-stock index were sharply lower, suggesting that the Dow Jones Industrial Average will post a 94-point loss at the opening bell.
In one of a trio of negative economic reports, the Commerce Department said orders for durable goods, or products expected to last more than three years, tumbled 8.5% in September. That was a much steeper drop than the 0.9% decline forecast by economists surveyed by Thomson Global Markets.
Meanwhile, the Labor Department reported that the number of Americans filing new claims for state unemployment insurance rose to 504,000 for the week ended Oct. 20. That was more than the 500,000 jobless claims expected by economists.
The Labor Department also said that the employment-cost index rose 1% in the third quarter, slightly more than expected. The indicator measures changes in compensation costs, including wages and salaries, as well as costs for employee benefits.
Later, at 10 a.m. EDT, the National Association of Realtors is expected to say that 5.26 million existing homes were sold last month, down from the 5.5 million sold in August.
Prior to release of the economic news, S&P futures had pointed to a weaker opening on Wall Street, after the ECB left rates alone despite growing political pressure for another rate cut to help the stumbling European economy.
In addition to pouring over Thursday's economic reports, investors will spend much of the session sorting through a mountain of earnings reports, said Peter Cardillo, director of research at Westfalia Investments.
Among companies that announced quarterly earnings so far, Dow Chemical said third-quarter net income plunged 84%, hurt by weak demand, substantial price declines and a slew of charges mostly related to acquisition expenses and restructuring at Dow Corning.
Among other stocks to watch, Enron on Wednesday replaced its finance chief, Andrew Fastow, capping a tumultuous day in which the Houston powerhouse saw its stock price continue to fall sharply.
States suing Microsoft are hiring one of the nation's top trial lawyers, signaling they may seek a harsher antitrust remedy than the White House. Meanwhile, the software giant's Windows XP formally makes its debut Thursday.
In key overseas markets, stocks were mixed. London's Financial Times-Stock Exchange 100-Share Index was down 1.2% in intraday trading, while Frankfurt's DAX was 0.9% lower. Earlier in the day, Japan's Nikkei 225 average closed with a gain of 0.7%, and Hong Kong's Hang Seng Index rose 0.2%.
In Wednesday's session, Wall Street continued to shrug off disappointing earnings news, and focused instead on hopes that low interest rates and the government's economic-stimulus program will produce a recovery.
Technology issues saw much of the buying, with the Nasdaq Composite Index rising 27.10 points, or 1.6%, to 1731.54. The Dow industrials inched 5.54 points, or 0.1%, higher to close at 9345.62, despite substantial losses in two of its components, Eastman Kodak and AT&T, which issued weak outlooks.
In major U.S. market action Wednesday:
Major stock indexes advanced. But on the Big Board, where 1.34 billion shares traded, 1,374 stocks rose and 1,743 fell. On the Nasdaq, 1.89 billion shares changed hands.
Bonds gained. The 10-year Treasury note rose 13/32, or $4.0625 for each $1,000 invested. The yield, which moves inversely to price, fell to 4.588%. The 30-year bond was up 23/32 to yield 5.330%. Early Thursday, the 10-year note was up 10/32 to yield 4.553% while the long bond was 17/32 higher, yielding 5.303%.
The dollar was mixed. Late in New York, it traded at 122.87 yen, up from 122.68, while the euro rose against the dollar to 89.35 U.S. cents from 89.07. Early Thursday in New York, the dollar bought 123.17 yen and traded at 88.27 cents to the euro.
For continuously updated news from The Wall Street Journal, see WSJ.com at http://wsj.com.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Kaplan Fox Seeks To Recover Losses For Investors Who Purchased E
2001-10-25 12:07 (New York)

Kaplan Fox Seeks To Recover Losses For Investors Who Purchased Enron
Corp. Common Stock

NEW YORK, NY -- (INTERNET WIRE) -- 10/25/01 -- Kaplan Fox
(kaplanfox.com) has filed a class action against Enron Corp. and
certain of the Company's officers and directors in the United States
District Court for the Southern District of Texas.  The suit is
brought on behalf of all persons or entities who purchased the common
stock of Enron Corporation ("Enron") (NYSE: ENE) between January 18,
2000 and October 17, 2001, inclusive (the "Class Period").

The complaint charges Enron Corp. and certain of its officers and
directors with violations of the Securities Exchange Act of 1934.
The complaint alleges that during the Class Period, defendants
engaged in asset and securities sales to closely related affiliates
and interested parties, which disguised Enron's true financial
position.  Many of the details of these transactions were hidden from
the public.  Defendants used these asset sales to falsely improve
Enron's balance sheet, thereby maintaining Enron shares at an
artificially inflated price.  Certain Enron executives, who held
positions in the affiliates that presented clear conflicts of
interest, reaped millions of dollars in personal gains from these
transactions.

The complaint further alleges that during the Class Period, Defendants
made misleading statements regarding the potential value of Enron's
Broadband business, in order to artificially boost Enron's share
price.  With knowledge that Enron's Broadband business would never
post a profit and was seriously overvalued, Defendants continued to
make misleading statements about the Broadband business in order to
maintain the share price at its artificially inflated levels.
Defendants used the artificially inflated value of Enron's Broadband
business to hedge against, in order to gain millions of dollars in
financing.  Defendants failed to disclose the risk of these financing
arrangements.  Defendants hid the true nature of Enron's earnings,
its hedging, its businesses, and the correct state of Enron's
finances from its investors and the market, further artificially
inflating Enron's share price.  While the stock was artificially
inflated for the above reasons, Enron executives engaged in extensive
insider trading, gaining personal proceeds of approximately $482
million during the Class Period, before the public became aware of
the above practices.

Plaintiff seeks to recover damages on behalf of the Class and is
represented by Kaplan Fox & Kilsheimer LLP.  Our firm, with offices
in New York, San Francisco, Chicago and New Jersey has many years of
experience in prosecuting investor class actions and actions
involving financial fraud. For more information about Kaplan Fox &
Kilsheimer LLP, you may visit our website at www.kaplanfox.com

If you are a member of the Class, you may move the court no later than
December 21, 2001 to serve as a lead plaintiff for the Class.    In
order to serve as a lead plaintiff, you must meet certain legal
requirements.

If you have any questions about this Notice, the action, your rights,
or your interests, please e-mail us at mail@kaplanfox.com or contact:

Kaplan Fox & Kilsheimer LLP - 805 Third Avenue,  22nd Floor - New York,
NY 10022

Kaplan Fox & Kilsheimer LLP - 100 Pine Street, 26th Floor - San
Francisco, CA 94111

Contact: Frederic S. Fox, Esq., Kaplan Fox & Kilsheimer LLP
Phone: 800-290-1952
Fax: 212-687-7714
Email: mail@kaplanfox.com

    Date      October 25, 2001
    Time      07:00 AM - 08:00 AM
    Station   CNBC
    Location  Network
    Program   The Squawk Box

              Mark Haines, co-anchor:

              Joe Kernen, what's going on?

              Joe Kernen, co-anchor:

              We've got to shift gears into this Enron situation which
              has just been--you've been talking about it quite a bit,
              David--how could you not talk about it?  Seventy-six
              million shares yesterday, down fifty percent in the last
              two weeks.  This is a company with--what?--a hundred
              million in revenues.

              James Cramer, guest market commentator:

              Maybe.

              Kernen:  Yeah, right.  Anyone who does any trading in
              energy apparently, you know, uses Enron Online, so anything
              that destabilizes Enron to a great extent could destabilize
              the whole energy trading arena and...

              Cramer:  Go ahead, say it!  Say what you're thinking!  No
              one has said it yet.  We know the truth.  We believe that
              Enron caused a national short squeeze.  They knew every
              single number in this gas situation.  They wrecked the
              California utility system and profited from it.  That's my
              bet.  My bet that this--they had--look, they were the
              market maker.  Imagine if Instinet knew what you were going
              to be buying and took it ahead of you.  I think they
              cornered the market for electricity for about four months,
              made a huge fortune and now the company is unraveling and
              when someone--when the Justice Department gets in there
              we're going to discover this.

              Kernen:  Let's see what happened...

              Haines:  Now, wait a second...

              David Faber, co-anchor:

              Whoa, whoa, whoa!  The Justice Department, Jim?  Now, is
              that new?  Is that something--

              Cramer:  No, that would be, if I were a prosecutor,
              something...

              Faber:  OK, so they are not being investigated?

              Cramer:  Well, no, I'm actually being a little forward
              thinking.

              Kernen:  The SEC wants documents about the limited
              partnership transactions of Mr.--

              Faber:  Which is very different from what Jim is talking
              about.

              Cramer:  No, I'm saying that this is what, if I were an
              enterprising prosecutor, I would say, Did we have a
              nationwide short squeeze in electricity caused by one
              company that had access to all the screens and knew exactly
              what was happening with the electricity market which then
              wrecked the California utility system, cost the consumer
              billions of dollars, and is now being hushed up?

              Kernen:  Well, let's talk about the actual news.  Here's
              yesterday's trading--

              Haines:  Wait a minute.

              Kernen:  Well, I just want to say that the guy is gone now.
              That's the new news here.  Did you read--did you know that
              Fastow, after four--

              Faber:  Late yesterday.

              Kernen:  Yeah, after four o'clock, Fastow is gone.  What's
              interesting--

              Faber:  He's the CFO--

              Kernen:  But he's a new CFO.

              Faber:  --who benefitted personally from some of these
              off balance sheet partnerships.

              Cramer:  Mark, you know, I'm not on thin ice here, I'm not
              on thin ice.

              Haines:  I just want to make sure we understand that this
              is your theory.

              Cramer:  This is my theory.

              Haines:  OK.

              Cramer:  It is just a theory.  It is my opinion.  But I
              think we've got to find out more about that short squeeze
              that occurred.

              Haines:  OK.

              Cramer:  We need to find out whether it was orchestrated.

              Kernen:  The new CFO might help regain some credibility for
              the company because he was the old treasurer who left that
              position a year or so ago because of some disagreements
              with how Mr. Fastow was doing business apparently.  So now
              he's back as CFO and we'll whether that calms the market
              down.

              Faber:  Well, what they need to do-- Joe, they need to come
              clean.  I mean, that is what all the investors in Enron and
              those who've left the company as investors over this last
              week have wanted.  Let's see everything; be as transparent
              as you possibly can be; tell us exactly what we need to
              know.  And as much as they need to come clean with their
              investors, they need to come clean with their trading
              counterparties because that is really what people are
              concerned about.

              Kernen:  Why is the credit worthiness issue such a big
              deal?  Anyone who does trading with them, if their credit
              worthiness were to go--if their credit rating were to go
              down, how would that affect energy trading?

              Faber:  Well, you want to know that they're going to be
              there on the other side and make good on the trades.

              Kernen:  I guess you would, wouldn't you?

              Faber:  Right.  Not that they aren't, but why would you--if
              you can trade with seven other guys--seven other companies,
              maybe you cut back a little bit on your exposure there.

              Kernen:  Now, why would--

              Faber:  And that would hurt their core business.

              Kernen:  Why are people expecting some type of action from
              the credit agencies, not because of the stock price, right?
              Because of something that could unravel--

              Faber:  Because of something related to these liabilities
              they may have--

              Kernen:  That they don't know about at this point.

              Faber:  --that they may have with regard to funding some of
              these off balance sheet partnerships that they backstopped
              in terms of borrowing that went on at the project level at
              the off balance sheet partnership.  Will it be a liability?
              They don't know.  But that's one of the reasons--

              Kernen:  We're talking hundreds of millions or billions?

              Faber:  They don't know.

              Kernen:  But there were billions of dollars in limited
              partners?

              Faber:  Yes.  About three billion in financing, I think is
              what some analysts estimated.

              Kernen:  This is a pretty big number.

              Faber:  Yeah, they can get to most of that with the assets
              that they have in the partnerships themselves.

              Kernen:  I use a six month chart to show what's happened
              over the last two weeks.  You got to look at here.  But if
              we went back a year, you'd see eighty as far as the high
              for Enron.  Now we're at sixteen.

              Faber:  Everybody else took a hit yesterday.  Dynegy got
              hurt.

              Kernen:  Well, I got Dynegy next.  Don't--  Here we go.

              Faber:  I'm sorry.  I'm getting a little excited.

              Kernen:  You are.

              Faber:  Enthusiastic about your charts.

              Kernen:  There's a weekly chart of Dynegy, and you know
              what's coming next, don't you?  Now I'm worried about the
              utility average.  I've worried about the transportation
              average a lot in my career.  Mark, now the utilities have
              replaced my worries.  I'm angst-ridden.  Did you see this
              chart?  We're breaking below the--

              Cramer:  That's a positive, not a negative, Joe.

              Kernen:  What's wrong with Cramer today?  What happened?

              Cramer:  I'm all fired up!

              Faber:  He really is.  My, God, he's got the DOJ getting
              all crazy, the FBI, the CIA.  You going down to En--you
              going down to Houston yourself?

              Cramer:  I may just have to.  I may have to clean up that
              whole city.

              Kernen:  Jim, why would the--that's the--now getting down
              to the lows, I mean, the other averages have come back
              quite a bit from the post-attack lows, the utilities are
              retesting those.  That's not something to worry about?

              Cramer:  No, because I think there's a lot of money going
              into more cyclical issues.  I think the economy is showing
              signs of getting better.  The consumer is certainly much
              stronger than we thought.  The base book didn't say the
              corporate was strong, but the consumer is strong.  Much
              stronger than before.

              Kernen:  All right.  In the past people have worried about
              the utility averages being a leading indicator, though.  I
              don't--we're talking about four hundred to two-ninety at
              this point.  That's a long way.

              Cramer:  This average has got a lot of problems to it, but
              I still think that--

              Kernen:  It's no longer the--

              Cramer:  --you sell this as safety.  We don't want safety
              as much as we want a little bit more reciprocality.

                        # # #


Thank you all for signing up to be Team Leaders for our JDF Campaign this
year.  The first Enron JDF/Team Leader Luncheon is today, Wednesday,
September 13th, at 11:30 a.m. at the Met.  This will be a very important and
informative session and I hope that everyone will attend.

I look forward to seeing you at the luncheon.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

My sincerest thanks to all of you that were able to attend the JDF Kick-off
Luncheon on September 6th.  It was a great event and a wonderful opportunity
for those of you not familiar with JDF to find out what the JDF Walk is all
about.  For those of you that were not able to join us, we missed you and we
look forward to having you join us for our future sessions.

The Enron/JDF Team Leaders Kick-off Luncheon will take place on Wednesday,
September 13th, at the Houston Metropolitan Racquet Club (The Met) beginning
at 11:30 a.m.  I would like to encourage each of you to mark your calendar
and make plans to attend this very important luncheon meeting.  At this
kick-off meeting we will be distributing supplies and gift bags, reviewing
important details about our campaign, learning more about JDF, and discussing
our fundraising goal for this year's campaign.  Enron has been the number 1
walk team in Houston for 5 years in a row and we plan to continue in that
position and we need your help to make it happen!

Please take just a moment to RSVP your attendance via e-mail to Rachel Feldt
on the Corporate Lotus Notes directory or to rachel.feldt@enron.com.

The Steering Committee members for this year's campaign are listed below.
Please feel free to contact me or any Steering Committee member if you have
any questions or if you have friends that you would like to sign up to help
with our campaign.

Steering Committee Members:

Blanca Bollom X66091
Rachel Feldt  X57629
Deb Gebhardt X39606
Cathy Phillips X36898
John Walt  X35379
Debbie Yates X35305

I look forward to seeing all of you at the luncheon on Wednesday.  Thanks!

Mike McConnell


Yolanda:

Please find attached my comments on the documents that you sent to me
yesterday.

Jack

Jack Gibbons
Chair
Ontario Clean Air Alliance
625 Church St., Suite 402
Toronto, Ontario   M4Y 2G1

Tel:  416-926-1907 ext 240
Fax: 416-926-1601

-----Original Message-----
From: Yolanda Clegg [mailto:yolanda@ccemtl.org]
Sent: Wednesday, May 23, 2001 4:37 PM
To: cgsmith2@aep.com; stomasky@aep.com; aescofet@alesco.com.mx;
Pberle@audubon.org; rkelter@citizensutilityboard.org; skean@enron.com;
Elizabeth.moler@exeloncorp.com; Erika.pichardo@ge.mmc.ge.com;
tom.rawls@greenmountain.com; philip_sharp@Harvard.edu;
Klimpt.Jean-Etienne@hydro.qc.ca; rdrouin@mccarthy.ca;
rcavanagh@nrdc.org; Jack Gibbons; pmulas@servidor.unam.mx;
alesco@sisisa.podernet.com.mx; Bob_Page@transalta.com;
deansoffice.law@utoronto.ca; ron.daniels@utoronto.ca; Scenergy@web.net
Cc: Yolanda Clegg
Subject: documents for May 24 conference call

Dear Advisory Board Member,

Thank you for your continued support of NACECs Initiative "Environmental
Challenges and Opportunities of the Evolving Continental Electricity
Market".

Please find attached the following documents for your review and to be
further discussed during the conference call Thursday May 24 at 3:00
EST.

1) an Interim Note for the Secretariat report
2) a draft recommendations checklist (for initial discussion)
3)  a list of the advisory board members and bios (please note that we
have shortened some of the bios, if you have yet to submit a bio please
send a copy to yolanda@ccemtl.org )

Items to be discussed during conference call:
I) Secretariat update - progress, expert report, symposium
II) Process and approach for developing guidelines/recommendations
III) Initial discussion of guidelines/recommendations
IV) 2nd Advisory Board meeting date and venue

Details of the conference call:

Participants from Canada and the United States should dial:
1-877-633-5353 (toll free)

Participants from Mexico should dial:
0-1-800-123-0200 and ask the operator to charge this telephone call to
the telephone number: (1-514) 868-2558

then enter the following Code: 023405#

If there is any problem with the communication during the call  please
dial *0
(Conference call reference: C799250)

On behalf of my colleagues at NACEC,
Sincerely,

Yolanda Clegg

Yolanda Clegg, M.Sc.
Environment, Economy and Trade Program
North American Commission for Environmental Cooperation
393 rue St-Jacques Ouest, bureau 200
Montreal
Quebec
CANADA         H2Y 1N9

tel: 514-350-4368
fax: 514-350-4314
yolanda@ccemtl.org

http://www.cec.org

 - NACEC may 24, 2001.doc


Hi guys,

I've had a cancellation for tomorrow's intereviews at Wharton and was hoping you guys could fill in.  Please let me and Michele Nezi Marvin know as soon as you can either way.

Thanks.   Jeff


Hi Mark,

Looking forward to getting this information when you get a chance.

Jane

----- Forwarded by Jane McBride/AP/Enron on 2001/01/17 09:55 -----

	Mark E Haedicke@ECT
	2001/01/17 04:24

		 To: Jane McBride/AP/Enron@ENRON
		 cc:
		 Subject: Re: ISDA Electronic Document Available

Jane:

I have asked Mark Taylor to coordinate with you on this matter.

Regards,

Mark

	Jane McBride@ENRON
	01/14/2001 06:55 PM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc: Alan Aronowitz/HOU/ECT@ECT
		 Subject: ISDA Electronic Document Available

Dear Mark,

As per this letter from Bob Pickel, I wonder if you (assuming you are Enron's
"Primary ISDA contact") would be able to send me our Firm ID and password
when you have a chance so that I can access the online versions of the
documents.

Thanks very much and thanks for the card.  Hoping you and your family had a
happy holiday and wishing you all the best for 2001.

Jane McBride

----- Forwarded by Jane McBride/AP/Enron on 2001/01/15 09:50 -----

	"ISDA" <cgreasley@isda.org>
	2001/01/13 12:18
	Please respond to cgreasley

		 To: jane.mcbride@enron.com
		 cc:
		 Subject: ISDA Electronic Document Available

 - cover- non pcs.doc


Start Date: 4/26/01; HourAhead hour: 14;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042614.txt

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

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/26/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: CISO_EPMI_DESERT
  ENGY_TYPE: NFRM


Colleagues:  it turns out that at this hour I will be presiding over hearings
in
Wyoming on the disposal of wastes from nuclear weapons (your condolences are
gratefully accepted).  I hope to join the next meeting, whenever it is.  My
advice remains what I said at our Dec. 1 meeting:  let's try to help the
legislature stay focused for now on the most urgent electricity issues that
absolutely must be addressed now:  forward contracting in the wholesale
markets
to reduce customers' exposure to very high and volatile wholesale prices, and
a
rate stabilization plan to deal with the issues surrounding this year's
wholesale costs.  If we can help narrow the immediate issues to those, and
frame
the differences and decisions that remain, we'll have made a useful
contribution.

____________________Reply Separator____________________
Subject:    CESG Committee Meeting
Author: "Delaney Hunter" <dhunter@smithandkempton.com>
Date:       12/01/2000 1:47 PM

Folks-
Ok, so you are the chosen ones......
Just to reiterate the meeting will be on
Tuesday, December 5, 2000
at 10:00 am
CA Chamber of Commerce
1215 K Street, 14th Floor

Please give me a call if you have any questions or need further details.

Thanks,
Delaney

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From: "Delaney Hunter" <dhunter@smithandkempton.com>
To: "Aaron Thomas (E-mail)" <athomas@newenergy.com>,
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This person might qualify for the Enterprise-Wide  Risk Management effort.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/18/2000
02:07 PM ---------------------------

Jean-Sebastien Fontaine@ENRON_DEVELOPMENT
01/18/2000 10:14 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Rotation

Vince

Please find attached a copy of my resume.  I will call Shirley to arrange a
meeting with you and Stinson.
Thank you

Jean-Sebastien
Analyst
APACHI / Transaction Service
67115


I've made some changes, which I thought I would circulate internally for
comment before sending to GE.

I left Jeff Smith a voice mail asking how the initial payment is supposed to
be split between the on and offshore contracts since this document references
payments to both.

Comments?

Kay


Here it is (copy machine on the blink)
---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 06/15/99 01:50
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  apena@andrews-kurth.com                           06/14/99 09:06 AM

To: annscully@aol.com, Elizabeth Sager/HOU/ECT, Rodney Malcolm/HOU/ECT,
Stuart Zisman/HOU/ECT
cc:
Subject: Revised 1999 PPA

Attached is a revised draft of the PPA for the 1999 EDP's incorporating
Friday's comments.  Also attached is a blacklined copy.  Thanks, Hal.
 - 127239.DOC
 - PPARED.DOC