The answer to your question is that all emissions reported on the emissions
inventory should be included in the calculation of emissions fees. This leads
to another question-what emissions should be reported on the emissions
inventory?

I discussed this issue with a TNRCC emissions inventory team leader. He
informed me that that is no written guidance on how to report upset,
maintenance, start-up, and shutdown emissions on the emissions inventory, and
as a result be included in emission fees. He did indicate that at previous
emissions inventory workshops, attendees were verbally told to only include
"reportable" (emissions that exceed RQ) on their inventories, and not
"recordable" (non-reportable) emissions. He also mentioned that one ton/year
would also be an acceptable threshold for including emissions in the
inventory.

He is aware that  upset, maintenance, start-up, and shutdown emissions are an
important issue, now that they are included in fees. He indicated that TNRCC
will be putting out definitive information on this issue in future emissions
inventory workshops and guidance, in preparation for submittal of calendar
year 2001 inventories that will be due in 2002.

 -----Original Message-----
From:  Loveless, Rick
Sent: Monday, September 24, 2001 9:36 AM
To: Phillips, Marc
Cc: Purvis, Kyle; Campbell, Larry; June, Marilyn; Nichols, Leo; Riedel, Mike;
Melton, Richard ; Jensen, Ruth; Kendrick, William
Subject: Re: TNRCC Emission Fees

Are emission fees paid only on reportable emissions; or are they also payable
on recordable?

From: Marc Phillips/ENRON@enronXgate on 09/21/2001 10:53 AM
To: Kyle Purvis, Larry Campbell/ET&S/Enron@ENRON, Rick
Loveless/ET&S/Enron@ENRON, Marilyn June/ECF/Enron@Enron
cc: Leo Nichols/ET&S/Enron@ENRON, Mike Riedel/ET&S/Enron@ENRON, Richard
Melton/ENRON@enronXgate, Ruth Jensen/ENRON@enronXgate, William
Kendrick/ENRON@enronXgate

Subject: TNRCC Emission Fees

In the last session, legislation was passed in Texas that requires the
payment of emission fees for upset, maintenance, start-up, and shutdown
emissions. Previously these emissions were required to be included in
emission inventories, but not when calculating the fees. Funds generated by
the inclusion of these emissions are to be used by TNRCC for enforcement and
monitoring activities for air quality permitting, air quality assessment and
planning, and enforcement and compliance support.
TNRCC is requiring that the additional fees for upset, maintenance, start-up,
and shutdown emissions be included in the fees that are due this Fall for
calendar year 2000 emissions. Industry groups are questioning the legality of
TNRCC requiring the added fees for 2000 emissions since the effective date of
the legislation was September, 2001. TNRCC is being requested to change this
and legal action is being considered. I will keep you updated as this issue
develops.

Marc N. Phillips
Director, Regulatory Technical Analysis
713-646-7646 (cell 713-594-6919)
marc.phillips@enron.com


sure i do.  give me a ring when you can. i can't wait to talk to you


Yes, he is required to put any existing sidewalks back in place (obviously,
with new ones, if he tears them out).  He's not required to put sidewalks in
where there were none.

Since he's planted grass instead, I suggest you call the City--there's a new
director of Public Works, but Amy has some contact names down there.  If they
don't push the issue, then call your new Council Member, Ada Edwards, because
she's eager to make herself helpful to Montrose.

Good luck.

Gayle Ramsey

thezistlers wrote:

> Is anyone familiar with the requirement in providing sidewalks along
> a public street?  The fellow that tore up our brand new Welch street
> back in October has torn up the sidewalks on Welch and planted grass
> in their place.  Isn't he required to keep the sidewalks that existed
> before?  There are sidewalks on both sides of Welch all the way from
> Taft to Montrose with the exception of the stretch in front of his
> new townhomes.
>
> Frank & Lorraine Zistler
>
>
> To unsubscribe from this group, send an email to:
> emca-unsubscribe@egroups.com
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/


I spoke to Don Shindler about your comments.  We will hold the contract and
any discussions with the Seller's attorney pending your approval following
discussions with your Accounting Department.  As per Rusty's email, we will
provide for a 12 month post-expiration/termination extended triggering
period.  As to the specific performance issue, we have agreed to this in the
past after the exercise of the option in the event the ENA entity was in
default of its obligation to acquire the property.  The alternative seems to
be to provide for some additional payment as liquidated damages for a
failure to close over and above the option consideration.  Re:  the zoning
issue.  Fred:  if there is any thought to using the Fehr property as a
laydown construction site or other use, we will need to address this issue.
Let's discuss.  Please let us know how you would like us to handle this.  To
discuss, please call me or Don.  Thanks.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

> -----Original Message-----
> From: Kay.Mann@enron.com [SMTP:Kay.Mann@enron.com]
> Sent: Monday, September 18, 2000 3:50 PM
> To: Rusty.Stevens@enron.com
> Cc: karen.way@piperrudnick.com; Fred.Mitro@enron.com
> Subject: Re: Fehr Option Agreement
>
>
> Here are my observations:
>
> I agree with Rusty re: the put option complicating things for us.  Second,
> there has to be an absolute end to this agreement at some point. If we
> want
> to have an automatic extension by commencing construction, there still
> needs to be a date certain after which we can go forward without them no
> matter what.  In other words, if we want to add the language Rusty
> suggested, it should be limited to x months after the expiration of the
> option agreement.  We'll need to run this back through Accounting.
>
> I really don't like the inclusion of the language in paragraph 5. If we
> add
> the language requested in paragraph 5, we need to run this agreement back
> through Accounting, and we may need to add some other additional language.
>
> I don't know if Rusty and Fred think we may need a zoning change for this
> parcel.
>
> Kay
>
>
>
>
>
>
> Rusty Stevens
> 09/14/2000 04:45 PM
>
> To:   karen.way@piperrudnick.com, Kay Mann/Corp/Enron@Enron
> cc:   Fred Mitro/HOU/ECT@ECT
>
> Subject:  Fehr Option Agreement
>
> I am in receipt of the Fehr's comments to our option agreement.  In
> reviewing them, I have the following comments:
>
>    The paragraph (2) change that says they can compel us to buy their land
>    upon a Triggering Event occurring is not going to work, because this is
>    a put option on their part which hurts our hard cost avoidance issues.
>    We carefully reworded previous put option language to avoid this.
>    Also, how can we be bound to a deal when the agreement has expired ?  I
>    think we would need to say that "if we decide to build the plant after
>    the option period expires, then that would serve to extend the term of
>    this agreement, however, if the option agreement expires unexercised
> for
>    a one year period then we won't be bound to the deal.
>
>    If the provisions of his comment (5) are indeed parallel to another
>    similar paragraph in the document I don't have a problem with it, but
>    "specific performance" scares me in general.  Your (collective) call.
>
>
> Lets wrap this one up fast.  I want to resolve it soon so I can use it as
> leverage with Ledford and not have him influence them.  He picked a good
> to
> go on vacation, but is back in on Monday.  I also told the Fehr's that if
> we could do this before the 15th I would go for $185,000 vs. $175,000.
> Since we were about five days longer than promised, I can justify the
> delay
> to end of next week, but I don't want them to think I was just blowing
> smoke on the extra $10,000.
>
>
> Fred :  Refresh my memory on who I need to go to for the option payment
> check ?
>
>
>
____________________________________________________________________________
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1999.  Please update your records.

The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
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____________________________________________________________________________


How low goes the stock?
--------------------------
Rick S.

-----Original Message-----
From: 7409950@skytel.com <7409950@skytel.com>
To: Shapiro, Richard <Richard.Shapiro@ENRON.com>
Sent: Sun Oct 21 13:55:53 2001

Reply Message:
Reply from PALMER MARK  is tough -M. Palmer to Text message

Original Message:
Richard.Shapiro@enron.com||How goes it?
--------------------------
Rick S.

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


Hi- Thanks for the note. Remember that Karen reads all my mail so don't send
anything too personal. Time to get back into studying. It will be over before
you know it and the four years is a small fraction of your working life so
keep at it.

I will look into London for your spring break. Send me the exact times you
have off. Love Dad.


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 10/18/2000
10:33 AM ---------------------------

"SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM> on 10/18/2000 09:21:45 AM
To: <Judy.Hernandez@enron.com>, <smanzanales@jw.com>, <Maria.Soliz@ppfa.org>,
<bandama@ssa.co.orange.ca.us>, <maryloulou@yahoo.com>
cc:
Subject: Fwd: Barney Can't Compete

Content-Transfer-Encoding: quoted-printable
Date: Wed, 18 Oct 2000 09:34:41 -0400
From: "Barbara Monte" <BMONTE@LLGM.COM>
To: "SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM>
Subject: Barney Can't Compete
Mime-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Disposition: inline

Barney Can't Compete
In the Minneapolis Star-Tribune (1/17/98) Judy Zmerold writes:

Three-year-old Katie was taken to her pediatrician during a recent
bout with the flu. As the doctor examined her ears, he asked, "Will I find Big
Bird in here?"

Apprehensively, Katie replied, "No."

Then, before examining her throat, he asked, "Will I find the Cookie
Monster in here?"

Again, "No."

Finally, listening to her heart, he asked, "Will I find Barney in here?"

With innocent conviction, she looked him directly in the eye and
said, "No, Jesus is in my heart. Barney is on my underwear."


Its non specific - the trades are there but with no counterparty names.

-----Original Message-----
From: Steffes, James D.
Sent: Tuesday, January 29, 2002 8:25 AM
To: Kitchen, Louise; Forster, David
Subject: RE: Description of UBS Deal

The Master Agreement and License Agreement mention that you have "Customer Data".  Is this wrong?

Jim

-----Original Message-----
From: Kitchen, Louise
Sent: Tuesday, January 29, 2002 6:46 AM
To: Steffes, James D.; Forster, David
Subject: RE: Description of UBS Deal

Simply

People, systems and floor space.

Back to front applications with no specific counterparty data.  WE have historical pricing etc but no counterparty names.  You could get most of it from Reuters.

-----Original Message-----
From: Steffes, James D.
Sent: Mon 1/28/2002 1:59 PM
To: Forster, David; Kitchen, Louise
Cc:
Subject: Description of UBS Deal

How would you describe (in terms that a regulator would understand) what is transfered to UBS?  I am asking because I want to make sure that I have a good grasp of what is going to UBS before our FERC pre-meeting.

My understanding is that we are providing software code to is used (a) for all backoffice applications and (b) for a trading platform.  Anything else?

Jim


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FYI
-----Original Message-----
From: Lees, Lisa
Sent: Thursday, October 25, 2001 3:05 PM
To: Gray, Barbara N.
Subject: FW: Texas Monthly (November 2001): How Enron Blew It

-----Original Message-----
From: Denny, Jennifer
Sent: Wednesday, October 24, 2001 1:43 PM
To: Lees, Lisa
Subject: FW: Texas Monthly (November 2001): How Enron Blew It

-----Original Message-----
From: Puthigai, Savita
Sent: Wed 10/24/2001 11:11 AM
To: Engel, Thomas; Denny, Jennifer
Cc:
Subject: FW: Texas Monthly (November 2001): How Enron Blew It

 -----Original Message-----
From:   McKinney, Lara
Sent:   Wednesday, October 24, 2001 8:43 AM
To:     Enron London - EOL Product Control Group; Puthigai, Savita
Subject:        FW: Texas Monthly (November 2001): How Enron Blew It

FYI - it is a good article

 -----Original Message-----
From:   Connelly, Angela
Sent:   24 October 2001 10:59
To:     McKinney, Lara
Subject:        FW: Texas Monthly (November 2001): How Enron Blew It

This is a long one - but definitely worth reading.

Cover title: Enron's Cutthroat Culture
*******************************************************************************************************************************************************************

How Enron Blew It
Less than a year ago, the Houston-based energy behemoth had everything: money, power, glitz, smarts, new ideas, and a CEO who wanted to make it the most important company in the world. Now its stock is down, wall street is bearish, and the CEO is gone. What went wrong?

by Mimi Swartz < <http://www.texasmonthly.com/mag/issues/authors/mimiswartz.php>>
THE ENRON SKYSCRAPER NEAR THE SOUTH END OF HOUSTON'S DOWNTOWN feels like the international headquarters of the best and the brightest. The lobby in no way resembles the hushed, understated entryways of the old-fashioned oil companies, like Shell and Texaco nearby. Enron, in contrast, throbs with modernity. The people hustling in and out of the elevators are black, white, brown; Asian, Middle Eastern, European, African, as well as American-born. They are young, mostly under 35, and dressed in the aggressively casual uniform of the tech industry-the guys wear khakis, polo shirts, and Banana Republic button-downs. Almost preposterously fit, they move through the building intently, like winners. Enron is nothing if not energetic: A Big Brother-size TV screen frantically reports on the stock market near a bank of elevators, while another hefty black television relaying the same news greets people entering from the garage. A sculpture of the corporate symbol, an E tipped at a jaunty angle, radiates colors as it spins frenetically on its axis; a Starbucks concession on the ground floor keeps everyone properly caffeinated. Multicolored, inspirational flags hang from the ceiling, congratulating Enron on its diversity and its values; one more giant banner between elevator banks declares Enron's simple if grandiose goal: "From the World's Leading Energy Company to . . . The World's Leading Company!"

For a while, that future seemed guaranteed, as Enron transformed itself from a stodgy, troubled pipeline company in 1985 to a trading colossus in 2000. It was a Wall Street darling, with a stock price that increased 1,700 percent in that sixteen-year period, with revenues that increased from $40 billion to $100 billion. "The very mention of the company in energy circles throughout the world creates reactions ranging from paralyzing fear to envy," notes a 2001 report from Global Change Associates, a firm that provides market intelligence to the energy business.

This Enron was largely the creation of Jeff Skilling, a visionary determined to transform American business. Hired sixteen years ago as a consultant by then-CEO Ken Lay, Skilling helped build a company that disdained the old formula of finding energy in the ground, hauling it in pipelines, and then selling it to refineries and other customers. Instead, it evolved into a company that could trade and market energy in all its forms, from natural gas to electricity, from wind to water. If you had a risky drilling venture, Enron would fund it for a piece of the action. If you wanted your megacorporation's energy needs analyzed and streamlined, Enron could do the job. If you were a Third World country with a pitiful infrastructure and burgeoning power needs, Enron was there to build and build. Basically, if an idea was new and potentially-and fantastically-lucrative, Enron wanted the first crack. And with each success, Enron became ever more certain of its destiny. The company would be the bridge between the old economy and the high-tech world, and in February of this year, Skilling reaped his reward when he succeeded Lay as chief executive officer. Enron, says Skilling, "was a great marriage of the risk-taking mentality of the oil patch with the risk-taking mentality of the financial markets."

The Enron story reflects the culture that drove American business at the end of the twentieth century. Like the high-tech companies it emulated, Enron was going to reinvent the American business model and, in turn, the American economy. Maybe it was natural that this Brave New World also produced a culture that was based on absolutes: not just the old versus the new, but the best versus the mediocre, the risk takers versus the complacent-those who could see the future versus those who could not. The key was investing in the right kind of intellectual capital. With the best and the brightest, a company couldn't possibly go wrong.

Or could it? Today Enron's stock trades at around $35, down from a high of $80 in January. The press cast Enron as the archvillain of California's energy crisis last spring, and Skilling caught a blueberry pie in the face for his relentless defense of the free market. A long-troubled power plant project in India threatened the company's global ambitions. Telecommunications, in which Enron was heavily invested, imploded. Wall Street analysts who once touted the company questioned its accounting practices. Some of the change in Enron's fortunes can be attributed to the economic downturn in uncertain times that has afflicted all of American business. But the culture that the company created and lived by cannot escape blame.

ENRON, JEFF SKILLING SAYS, HAD "a totally different way of thinking about business-we got it." At Enron, in fact, you either "got it" or you were gone-it was as simple as black and white. It is not coincidental, then, that the color scheme of Skilling's River Oaks mansion mirrors the corporation he once headed. Here, the living room's white walls shimmer against the mahogany floors. Black leather trims the edge of snowy carpets. Billowy sofas set off the jet-black baby grand. In the entry, white orchids cascade from a black vase on a black pedestal table that in turn pools onto cold, white marble. There is only one off-color note: After almost twenty years, Jeff Skilling is no longer associated with Enron, having resigned abruptly after just six months as CEO. Once, Skilling was hailed as the next Jack Welch (General Electric's masterful CEO), as one of Worth magazine's best CEO's in America (anointed in 2001), and even as a daredevil who hosted the kind of unchained adventure junkets in which, a friend told BusinessWeek, "someone could actually get killed." Today, he sounds more like Ebenezer Scrooge on Christmas morning. "I had no idea what I'd let go of," Skilling says of all the personal sacrifices he made while retooling Enron.

From a black chair in the white library, across from a huge black and white photograph of his daughter and two sons, Skilling clarifies. The demands of working 24-7 for Enron caused him to ignore his personal finances. Divorced, he lived in a 2,200-square-foot house without a microwave or a dishwasher. He almost missed his brother's wedding. "Learning a foreign language-I never learned a foreign language!" he exclaims. He never once took his youngest son to school. "I'm interested in the kids. You don't do kids in fifteen-minute scheduling." Travel: "You can't go to Africa for a week and get anything out of it!" Skilling includes the study of architecture and design on his list of missed opportunities, then he stops and sighs. "I'm not sure that fulfillment in life is compatible with a CEO's job," he says, finally. Then his eyes lock on mine, and his voice, which had softened, regains its pragmatic edge. "It would have been easy to stay," he says. "But that would not have been good for me."

He's a smallish, ruddy-faced man who keeps himself at fighting weight, handsome in the way of corporate titans, with piercing cheekbones and that assiduously stolid gaze. But the impatience Skilling once reserved for cautious underlings and dull-witted utility company executives is now targeted at reporters who have labeled his resignation "bizarre" and associates who are bitterly skeptical of his need for family time. His shrug stretches the limits of his shimmering blue button-down, and his matching blue eyes look put upon. "I'm surprised," he says, "that people have so much trouble understanding this."

PEOPLE WHO PASSED THROUGH DOWNTOWN HOUSTON in the late eighties or early nineties couldn't help but notice a funny and, for its time, novel scene unfolding throughout the workday at the base of the Enron Building. From nine to five and before and after, you could see people slipping out of the pristine silver skyscraper to smoke. They perched on the chrome banisters or lurked near the glass doors at the entry, puffing like mad. They always looked hurried and furtive, even ashamed. Whatever people knew about Enron in those days (and most people didn't know much), it was often associated with that scene: Enron boasted one of the first nonsmoking corporate headquarters in Houston, and there couldn't have been clearer evidence of its break with the energy world of the past. What macho engineer would have put up with such humiliation?

But this company was a child of another time, that period in the mid-eighties when chaos enveloped the gas business. Federal deregulation of natural gas turned a steady, secure industry, in which gas pipeline companies frequently enjoyed a monopoly in portions of the areas that they served, into a volatile free-for-all. The situation was compounded five years later by federal deregulation of the pipeline business. So it happened that a gentlemanly gas pipeline company, Houston Natural Gas (HNG) found itself under attack from Coastal Corporation, Oscar Wyatt's less than gentlemanly firm. HNG was then run by Lay, a sturdy, taciturn former economics professor and Transco chief operating officer who had a passion for military strategy. (His doctoral thesis at the University of Houston was on supply and demand in the Vietnam War.) Lay, who was from Missouri and never succumbed-at least outwardly-to Texas brashness, had done well enough: Thanks to canny expansions, HNG's pipelines stretched from Florida to California and throughout the state of Texas.

HNG fended off Coastal, but to protect the company from other takeover attempts, Lay nimbly engineered the sale of HNG in 1985 to a friendly Nebraska pipeline concern called InterNorth, one of the largest pipeline companies in the country at the time. Then, a funny thing happened: HNG started acting in a way that would characterize the company for years to come-a lot like Coastal. What the Nebraskans blithely labeled "the purchase" was being called "the merger" back in Houston, and before long, following some particularly brutal politicking between Omaha and Houston, the company's center of gravity started shifting toward Texas, and shortly after that, Ken Lay was running a new company called Enron. "Over time it became clear that Lay had a better vision of the future," says one person associated with Enron at that time. "He never fought change. He embraced change."

Lay had won, but what exactly did that mean? Enron was saddled with massive debt from the takeover attempt, and thanks to deregulation, no longer had exclusive use of its pipelines. Without new ideas-for that matter, a whole new business plan-the company could be finished before it really even got started.

LIKE MANY PEOPLE WHO TEAMED UP WITH ENRON IN THE EIGHTIES, Jeff Skilling had spent a lot of time in the Midwest, and he was self-made-at fourteen he had been the chief production director at a start-up TV station in Aurora, Illinois. (His mother would drop him off there every day after school.) "I liked being successful when I was working, and I was smart," he told BusinessWeek earlier this year. But unlike many of his Enron colleagues, Skilling wasn't deliberate and soft-spoken and happy to go home at five o'clock; he was anxious and excitable, and nothing, but nothing excited him more than what he would come to call "intellectual capital." He loved being smart, and he loved being surrounded by smart people. He graduated from Southern Methodist University, went into banking-assets and liability management-and took on Harvard Business School, where he graduated in the top 5 percent of his class. Then Skilling took the next step on what was then the new, souped-up path to American success: He joined Manhattan's McKinsey and Company as a business consultant, and that is where Ken Lay found him in 1985.

It is often said of Lay that his instincts for hiring the best are flawless, and his choice of Skilling probably saved the company. Skilling was above all an expert at markets and how they worked. While everyone else was worrying about the gluts and the shortages that defined the gas industry, he alone saw the parallels between gas and other businesses. And so in a world where credit was nearly impossible to come by, Skilling came up with what he called the Gas Bank, which contractually guaranteed both the supply and the price of gas to a network of suppliers and consumers. Enron would not be a broker but a banker. It would buy and sell the gas itself and assume the risk involved. And Enron would make money on transactions, much like an investment bank would.

Skilling worked up some numbers and found them "absolutely compelling." Then the McKinsey consultant took the idea to a meeting of about 25 Enron executives. He had a one-page presentation. "Almost to a person," Skilling says, "they thought it was stupid." Almost. After Skilling left the meeting dejected, he walked Ken Lay to an elevator and apologized. Lay listened and then said, "Let's go."

The Gas Bank was not an overnight success. For months Skilling woke up in a cold sweat, sure he had ruined not only his career but the careers of dozens of colleagues who had assisted him. In fact, he had come upon one of those divides that seem to define his life: "I believed this whole world would be different, a huge breakthrough" is the way Skilling puts it today, and even if he is typically immodest, he was right. Fairly soon after launching, the company sold $800 million worth of gas in a week. True to Skilling's character, success turned out to be a matter of old versus new: He says the joke around Enron was that if a company's CEO was under fifty, "We were in." And he was in too: In 1990 Skilling finally left McKinsey and joined Enron as the head of Enron Finance Corporation, a new division created just for him. In 1991 that company closed a deal that earned $11 million in profit. After that, says Skilling, "we never looked back."

Skilling and Lay also realized that the Gas Bank couldn't work unless it had a trading component. Myriad trades were needed to build the market that would make the project go. But by buying and selling enormous quantities of gas, Enron not only constructed a market but almost instantly came to dominate it. The company had the best contacts, the best intelligence, and the best access to supplies. That, in turn, attracted more customers who wanted to be part of the play. With so many customers in its pocket, Enron could better predict the direction of the market and could use that knowledge to make trades for its own benefit-Enron could in effect bet on which way the price of gas would go, as one might do with pork bellies or soybeans, but with startling accuracy, thereby generating profits higher than anyone could have ever imagined.

THIS CHANGE COULD NEVER HAVE OCCURRED without another change Skilling had made: He created, within Enron, a new culture to match its new trading business. The idea was to build a "knowledge-based business," which demanded a skill set not exactly prized by Enron's employees from the old HNG days. Most were deliberate, cautious, responsible, somewhat defensive people, most of them men, of course-the kind of people you'd expect to find working in an industry regulated by the federal government. But now the company needed bolder people for its bold new era: that included anyone who wanted to make money-lots of money-for themselves and for the company. "Enron was going to create a niche for itself or die," one former executive explains. "The people who had narrow views eventually were forced out, because if they had narrow views about other things, they had narrow views about the market."

Skilling wanted smart people but not just any smart people. He wanted the smartest people from schools like Harvard, Stanford, and maybe, Rice. And because his firm was now acting more like a bank than a pipeline company, he wanted to draw from the pool of recruits that would be attracted to the biggest and best investment banks, like Merrill Lynch or Credit Suisse First Boston. In addition to being smart, Enron people were also supposed to be "aggressive." You were right for Enron if you didn't want to wait until you were thirty to close your own deals or move up in an organization.

You could see what he was looking for on "Super Saturdays" at the Houston headquarters: eight fifty-minute interviews with ten minute breaks in between-the company might herd as many as four hundred people through in just one day. They were scored from 1 to 5 on their smarts, their problem-solving ability, their passion for hard work, and what at Enron was called "a sense of urgency." People who scored less than 2.5 were scratched. The shrewdest candidates knew how to work Enron before they were even hired: These were the types that automatically turned down the company's first offer, knowing Enron would come back with more. The starting salary was around $80,000. Maybe it wasn't a fortune-yet-but the signing bonus, about $20,000, was more than enough for a lease on the obligatory Porsche Boxster or one of the lofts being renovated close to downtown. (Enron people didn't live in far-flung suburbs. Suburbs were uncool and too far from the office.)

For the lucky winners, Enron offered the corporate equivalent of a gifted-and-talented program. New associates learned the latest techniques for structuring energy deals, and there were rotations at Enron offices around the globe. The hours were long, but every possible need was taken care of. A company concierge handled all the things important people couldn't be bothered with: picking up dry cleaning or prescriptions, shining shoes, cleaning the house, planning a vacation. Of course, a lot of people who worked for Enron never got to take vacations-they were too busy making money-but they could use the company gym and the company's personal trainers. If they were overweight or wanted to quit smoking, they could join Enron's Wellness Program. Massages were offered six days a week, from seven in the morning until ten at night. "They were so cutting edge," rhapsodizes someone involved with the company health care program at the time. "They really thought about the psychology and what it took to keep these people going."

Skilling handed out titles analogous to those at Wall Street firms-analysts, associates, directors, and managing directors-but everyone knew that those titles didn't really matter. Money did. Instead of competitive salaries and decent bonuses, Enron offered competitive salaries and merit-based bonuses-with no cap. "If you really worked hard and delivered results, you could make a lot of money," says Ken Rice, who stayed with Enron for 21 years until resigning recently as the head of the company's faltering broadband division. Or, as the saying goes, you got to eat what you killed. Gas traders with two or three years of experience could wind up with a $1 million bonus. And the more you produced, the closer you got to Jeff: Real hot dogs joined him glacier hiking in Patagonia, Land Cruiser racing in Australia, or off-road motorcycling in a re-creation of the Baja 1,000 race, ending at a spectacular Mexican villa. "Every time he'd speak, I'd believe everything he'd say," one loyalist says.

And why not? By 1995 Enron had become North America's largest natural-gas merchant, controlling 20 percent of the market. But at a company where the buzzword was "aggressive," that was no place to stop: Skilling and Lay believed the Gas Bank model could easily be applied to the electricity business. Firmly committed to the notion that a deregulated market meant better service at lower prices for consumers (and untold profits for Enron), they began barnstorming the country, pressing their case with entrenched power company presidents (who, with their multimillion-dollar salaries and monopoly service areas, had little incentive to change) and energy regulators (who were somewhat more receptive, thanks in part to Enron's generous lobbying efforts).

But the biggest winner of all was probably Jeff Skilling. In 1997 Ken Lay made him the president and chief operating officer of the company. By then, the division known as Enron Capital and Trade Resources was the nations largest wholesale buyer and seller of natural gas and electricity. The division had grown from two hundred to two thousand employees, and revenues from $2 billion to $7 billion. "Mr. Skilling's experience so far with the turmoil in the industry has convinced him that he is on the right track," the New York Times noted. Everyone would certainly have thought so: Enron and Skilling had totally transformed one industry and were well on their way to transforming another.

"FIRING UP AN IDEA MACHINE; Enron Is Encouraging the Entrepreneurs Within," sang the New York Times in 1999. "In the staid world of regulated utilities and energy companies, Enron Corp is that gate-crashing Elvis," crowed Fortune in 2000. Wall Street was demanding tech-size growth on a tech timetable, and Enron, in 2000, obliged with second quarter earnings of $289 million, up 30 percent from the previous year. That year the company seemed to discover a market a minute: Under Skilling, Enron was trading coal, paper, steel, and even weather. No one blinked when a London wine bar became an Enron client. People drank more in warm weather than cold, so why not buy a hedge against the usual winter downturn?

But most exciting to the financial world was Enron's entry into high-tech communications. Because of the company's marketing dominance, EnronOnline became another overnight success, handling $335 billion in commodity trades online in 2000. Enron, as usual, made its money on the spread between the bid price and the asking price. Then there was the broadband business: To Enron, trading excess capacity in large, high-speed fiber-optic networks (empty lanes on the fabled information highway) wasn't that different from trading the capacity of natural gas pipelines. So Enron created a market for what the industry calls bandwidth. Soon after, it also announced a twenty-year deal with Blockbuster to deliver movies on demand electronically to people in their homes. Enron looked like a company that couldn't lose. "Its strategy of building businesses, shedding hard assets, and trading various commodities can help it do well even in an uncertain market," BusinessWeek insisted.

There was, however, another reason Enron did so well in such a short time: the company's hard-nosed approach toward its customers. The old notion of customer service was based on the long haul-you had to nurse and coddle customers to keep them. But Enron had new markets and new ideas-customers had to come to it. Over time, the company stopping referring to its business clients as customers and began calling them "counterparties."

Skilling wanted the biggest profits on the shortest timetable: Gains were maximized by creating, owning, and then abandoning a market before it became overtaxed and overregulated. So if you wanted to launch a high-risk venture quickly-such as Zilkha Energy's new high-tech approach to drilling for oil-you got your financing from Enron because a bank would take forever to underwrite the project, if it ever would. But because Enron invented its markets and subsequently dominated them, Enron could set the terms of its deals, from the timeline to the method of accounting to whether the deal happened at all.

While many businesses used what was known in the industry as "mark-to-market accounting," for instance, Enron used it on an unprecedented scale. The company priced their deals at current market value-but it was always Enron's idea of the market value; companies that balked at their pricing didn't get deals. And while old-fashioned companies spread their profits out like annuities over a period of years, Enron took most of its profit up-front. However many millions would be made on a deal that covered several years, they went on the books in the current year. If a few analysts thought there might be something fishy about what they called "subjective accounting," investors didn't particularly care as long as the profits rolled in. As the market fluctuated and the landscape changed, the company might abandon a project that had been in the works for months because its profit margins weren't going to be high enough. "Enron is known for leaving people at the altar," says one former employee. Winning the highest possible profits for the company could even extend to Enron's attitude toward charity. When a fundraiser for the Houston READ Commission, a literacy group, called on Enron for a contribution, it was suggested that he start raising money for Enron's competing literacy charity: "Even the person who was supposed to give money away for Enron was supposed to make money for Enron," he says.

As Enron became more and more successful, the culture Skilling had created took on a dark side: The competition turned inward. As one member of the Enron family put it, "It became a company full of mercenaries." The change started at the bottom. As Enron's domination of the energy market grew, most of the recruiting frills fell away. New associates were treated much like the commodities the company traded. Global Change's Enron spies reported overhearing orders like "I need a smart person-go buy me one" or "Buy me an intelligent slave, quick." Enron had never been the kind of place where people sang to you on your birthday, but now the workaholism bordered on self-parody: A Random Acts of Kindness program lasted only a few months. It was too disruptive. People couldn't get their work done.

And, of course, Enron had a program for institutionalizing creative tension. The Performance Review Committee, which had initially been installed by Skilling in the Capital group, became known as the harshest forced ranking system in the country. Employees were rated on a scale of one to five, and those with fives were usually gone within six months. (The PRC's nickname quickly became "rank and yank.") It was a point of pride that Skilling's division replaced 15 percent of its workforce every year. As one Skilling associate put it, "Jeff viewed this like turning over the inventory in a grocery store." Skilling's approach to business-get in and get out-had become Enron's attitude toward its workers. In time, it would become many workers' attitude toward the company. Teamwork, never that valuable in a trading culture, went the way of the eyeshade and the abacus. If protocol required an Enron higher-up to come from Europe to help with a project in the Third World, he might help-or he might not, depending on whether another, potentially more lucrative project was pending elsewhere.

Everyone felt the pressure to perform on a massive scale at massive speed: "They were so goal oriented toward immediate gratification that they lost sight of the future," says one former employee. Anyone who couldn't close deals within a quarter was punished with bad PRC scores, as were the higher-ups who had backed them. Past errors and old grudges were dredged up so often as new ammunition in PRC meetings that the phrase "No old tapes" became an Enron clich?. "People went from being geniuses to idiots overnight," says one former Enron executive.

In such a hothouse, paranoia flowered. New contracts contained highly restrictive confidentiality agreements about anything pertaining to the company. E-mail was monitored. A former executive routinely carried two laptops, one for the company and one for himself. People may have been rich at Enron, but they weren't necessarily happy. One recruiter described the culture this way: "They roll you over and slit your throat and watch your eyes while you bleed to death."

BEFORE JEFF SKILLING COULD TRANSFORM ENRON from the world's leading energy company into the world's leading company, he had to make one more change: Just as he had done ten years before, Skilling had to purge the company of its remaining old order. Where Enron once prized cautious executives who dealt with tangible assets like pipelines, it now valued bold executives who dealt with intangible assets. Pipelines, power plants-they may have been Enron's pride, but Skilling wanted them gone. Expensive, long-term building projects had no place when Wall Street was devoted to quick profits and enormous returns on investment capital, and Skilling knew it. "It wasn't the time for long-term approaches," an Enron executive says of Wall Street's mood. "It was the technology era."

To rid Enron of the last vestiges of its past, Skilling had to take on Rebecca Mark, long considered his rival for the CEO's job. Mark was for many years the poster child for the Enron way: Young, attractive, aggressive-her nickname was Mark the Shark-she came from sturdy Midwestern stock but had the requisite Harvard MBA. Mark was largely responsible for the success of Enron International, the asset-heavy side of the company where she developed $20 billion worth of gas and power plants, which accounted for 40 percent of Enron's profits in 1998. For this she reaped breathtaking compensation-one Enron executive estimated $10 million-and adoring press clips, including two appearances on Fortune's list of the fifty most powerful women in corporate America.

But then Mark ran into trouble with a gas-fired power plant in Dabhol, India, one of the largest ever constructed. She had played the game the Enron way: Taking Enron into a new market, she had finagled low import taxes (20 percent instead of the usual 53) and hung in through 24 lawsuits and three changes in government. But the time and expense needed to make India and other Enron plants around the globe successful did not mesh with Enron's goals, and Skilling's impatience with Mark grew.

Forcing Mark out, however, was no easy matter. Key executives left, divisions were dismantled, but she remained. The truth was Enron didn't mind firing lower-level employees, but it hated to fire the kind of aggressive, relentless people it tended to promote. The company preferred humiliation-keeping a director in his cubicle, say, but failing to include him in the glamour deals, or kicking someone upstairs with a fancy title. (One particularly difficult executive won a few years at graduate school, gratis.) A company as smart as Enron could probably deduce too that dispatching one of the most visible businesswomen in the country would provoke a public-relations disaster. So Lay and Skilling did something classically Enronian: They gave Mark her own company. Despite Skilling's contempt for asset-heavy businesses, Enron spent more than $2 billion to buy a run-of-the-mill British water utility that could serve as Enron's entry into the emerging world of water privatization. Mark was put in charge of making Enron, yes, the world's greatest water company. Azurix, as the new business was called, looked like another sure thing: Its IPO in 1999 raised $695 million.

But Mark had to succeed on Enron's increasingly abbreviated timetable in a business fraught with political and emotional complexities. Water is not like gas or electricity-owners and governments are a lot less willing to give it up, even for lots of money. The company stumbled, layoffs commenced, and confidence evaporated. By August 2000 the stock price, which had started out at $19, had fallen to $5. Mark's resignation followed, and Azurix, much diminished, was folded into Enron. "I think it's best for Rebecca to start afresh," Lay, who had been a mentor to Mark, told the Wall Street Journal. Or as one critic put it, "They were more interested in destroying the old culture than running a business."

As 2000 drew to a close, Skilling was in total command. In December Ken Lay announced the inevitable: "The best time for the succession to occur is when the company is doing well," he told the press. "Enron is doing extremely well now." In February 2001 Jeff Skilling took over the CEO's job.

ALMOST IMMEDIATELY THE TROUBLE STARTED. Enron's domination of the electric-power market made it an instant target in the California deregulation debacle. Both PBS's Frontline and the New York Times took on Enron, portraying the company as a heartless colossus that used its influence in Washington (Lay and Enron's political action committee are the top contributors to George W. Bush) to force old people on fixed incomes to choose between buying food or electricity. Skilling and Lay appeared on camera singing belligerent anthems to the free market, while another memorable scene juxtaposed one of the company's jackallike traders against a hapless state employee in California, as both tried to buy power online. The Times reported that Lay had tried to persuade a new federal commissioner to change his views on energy deregulation. The bad press was, to say the least, ironic: Just as the media was pounding Enron for its omnipotence, Wall Street was discovering its weaknesses. By late March the stock price had slid to $50 a share from $80 in January.

Within Enron, the asset-based divisions took the rap for the decline. (The India plant continued to be enormously costly, at least in part because of constant turnover within Enron's management team.) But the California situation was more visible and therefore more damaging, despite Enron's claim that the state had never built enough power plants to service its population and never properly managed those it had. "For three months Gray Davis did a very good job of blaming us," says Mark Palmer, a vice president for corporate communications. "We were a Texas company. There was a Texan in the White House. California was a state that didn't put him in office, and his biggest contributor was a Texas energy company. Performance is going to take care of our stock price. The truth will take care of Gray Davis." (California utilities still owe Enron $500 million, another reason stockholders might be panicky.) But more problematic than the crisis itself was Skilling's all too apparent lack of contrition. Facing down his critics, he cracked a joke comparing California with the Titanic. ("At least the Titanic went down with its lights on.")

But the biggest problem was Enron's telecommunications division, which had been responsible for at least one third of its heady stock price. Investors believed that Enron could revolutionize high-speed communications, just as it had revolutionized gas and power. Enron estimated the global market for buying and selling space over fiber-optic cable would grow from $155 billion in 2001 to $383 billion by 2004-but then the tech bubble burst. So too did the much-hyped movies-on-demand deal with Blockbuster. For the first time in its confoundingly successful life, Enron had nothing new to take to market. Like the popular high school girl who suddenly packs on a few pounds, Enron suddenly looked less alluring to Wall Street.

Skilling launched a campaign to keep Enron's most important cheerleaders, the stock analysts, in the tent, but he wasn't cut out to be a supplicant. During the reporting of first quarter profits, he called an analyst who challenged Enron's financial reporting an "asshole." When the company reported hefty second quarter profits, many analysts questioned whether those profits had come from the generation of new business or from the sale of old assets. Ignoring the growing chorus critical of Enron's accounting, Skilling promised, as he always had, that innovations were just around the corner. "There wasn't any positive news," Carol Coale, of Prudential Financial, says now. "Basically, he talked me out of a downgrade."

The business press, so generous in the past, turned surly. Fortune had asked in March whether Enron was overpriced. ("Start with a pretty straightforward question: How exactly does Enron make its money?") The routine cashing in of stock options that were about to expire by key executives was portrayed in the media as a fire sale. (Skilling had sold $33 million worth, Ken Lay and Ken Rice close to four times that amount.) Then the Wall Street Journal reported on a fund run by the CFO that had been a source of strife within the company. (It was essentially risk management against Enron's possible failures.) Every negative story seemed to produce a concurrent drop in the stock price: By late August it had fallen below $40. Enron, so institutionally unforgiving, finally got a taste of its own medicine. "When Wall Street is in love with a stock, they're forgiving of something like accounting," says Carol Coale. "When a company falls out of favor, all these issues carry more weight."

This fact was not lost on people inside the company, who suddenly started experiencing an attack of conscience. Those who had looked the other way as the most powerful Enron executives dumped their wives and married their secretaries or carried on flagrant interoffice affairs now saw the error of their ways. "It just created an attitude," one executive still at Enron says. "If senior people are doing that, why are we held to a higher standard? There was a real culture of 'We're above everyone else.'"

Loyalty had never been prized at Enron, so there was no reason to expect it now. An old-fashioned, slow-moving company like Exxon could demand hardship duty in Baku with the promise of greater rewards down the road. "But," as one Houston oilman explains, "if you have to negotiate a hardship duty with someone who doesn't have loyalty and has money, then you have a corporation that's better suited for good times than bad."

As it turned out, that description applied to Jeff Skilling too. As the stock price stubbornly refused to ascend, he made no secret of his unhappiness and frustration. Then, after a trip to visit the families of three employees killed at a plant in England, he had an epiphany: Life was short; for him, Enron was over. Ever stoic, Ken Lay returned to the CEO's office, named a new president, arranged a trip to New York to calm analysts and investors, and promised a kinder, gentler Enron in the future. Trading anything and everything was out. The company, Lay says, will still innovate but "innovate much closer to our core." As for the culture: "Things like the Performance Review Committee, I think we could have applied better. By trying to categorize people into so many different categories, you ended up creating a morale problem."

That Skilling's supposedly brilliant colleagues were as shocked at the news of his departure as the rest of the business community may be testament to their lack of emotional intelligence. Despite Skilling's lengthy tenure with Enron, he'd always been contemptuous of the long haul; he'd always believed in cutting losses and moving on. But now that he was abandoning them when the company was in trouble, it was different. "Even Jeff's biggest detractors wouldn't have wanted him to walk out the door," one loyalist admits.

But on the day we meet, Skilling is looking forward, not back. "Look," he says with finality, "ninety percent of my net worth is in Enron. Were my interests aligned with the shareholders? Absolutely."

Free of falling stock prices and shareholder pressures, he is nestling himself back into the world of ideas. His eyes flash as he talks about new technologies. "The first wave never gets it right," he says. "The stand-alone dot-coms didn't work, but the technological applications will create a second wave that will change the world." Houston, he promises, will become the world's center of commodity trading, and he intends to be a part of it. In fact, he is already shopping for office space.

"This is the second wave, and Enron's got it," he says, almost breathless. "There are thousands of people running around the streets of Houston that get it."


Bend like a reed in the wind? It's funny you should say that, since I've been
reading a lot about Buddhist philosophy lately. I stayed with a couple in
London who practice Buddhist meditation pretty regularly. Ever since then
I've thought something like that would do a world of good for my mental
health, being that I've always been more of a giant steel piling than a reed
when the wind kicks up. I did let her have it, don't worry; but my Catholic
guilt always gets the best of me, and I assure you I'll be extending all
kinds of undeserved compassion by this evening.

As far as the sick thing goes - screw that. That's one occasion you cannot
take lying down, or bending like a reed as it were. You sabotage that thing
with vitamin C and some uber-multi-vitamin and echinacea and hot water with
lemon and honey and 14 hours of sleep a night UNTIL IT RUNS SCREAMING FROM
YOUR BODY. I hate being sick...almost as much as I hate bending like a reed.

Speaking of Woody Allen - I saw his new one, "Small Time Crooks," last night.
I'd give it an unenthusiastic "mediocre." Rent it if you've exhausted all
other options. Tonight I think we're going to check out "Traffic" - I've
heard rave reviews. Or otherwise it's "Cinema Paradiso" for the
sixty-thousandth time, but this time on the big screen. The deciding factor
will be money, and beer. "Traffic" will cost twice as much as "Cinema," but
the theater showing "Cinema" has comfy couches and serves beer, so I'll end
up spending twice as much as I would at "Traffic." Do you see the moral
dilemma here?

I'm sorry to ramble, but today happens to be alarmingly devoid of surprises.
Having said that, I'm practically positive some catastrophe will occur in the
next 30 seconds, so I'm going to go now.

Kate

"jordan mackay" <jordanmackay@hotmail.com> on 02/20/2001 10:40:01 AM
To: Kate.Symes@enron.com
cc:

Subject: Re:

I can't believe that bitch would just wander into the house full of ire and
phasers set to kill. I hope you let her have it. Some friend! She was just
trying to get your goat. Knows to how to press your buttons and will continue
to until she grows up. If I were you I'd follow the Buddhist path--extend
compassion to her, don't let your state of mind be controlled by what she
does, bend like a reed in the wind, etc. Anyhoo . . .

I started to get a little sick last night. Think I might have been running a
fever, so I came home and went to bed early. But I don't always sleep so
well. The bed I'm?using gives me the distinct impression that I'm sleeping on
a grade, that I'm slipping into a pit or a valley. My dreams?are always about
climbing out of things. And then Hector the dachshund sleeps on the bed with
me and even though he's only about a foot and a half long, it always seems
like he takes up all the room. Oh, I'm just complaining. Cross your fingers
that I don't get sick.

"Croupier " I've always wanted to see. Glad you give it the thumbs up. I
think I'm going to head downstairs and watch a movie myself. Perhaps Woody
Allen's "Manhattan," an old fave I haven't seen in years.

Talk to you soon. Oh yes, and about the weekend. Of course I give you the
"flaky"?time allowance you need. I would demand the same for myself. If you
decide to come down, you don't even have to tell us until Friday or Saturday.
You don't even have to tell us at all. You could just come and not see us and
head back Sunday if you want. We are that tolerant of flakiness here. No,
seriously, if you feel like coming it would be wonderful to see you. If not,
another time will come.

jordan

Get your FREE download of MSN Explorer at http://explorer.msn.com


I think we need to get a lot closer together - I expect Geoff (and the
analyst working for Geoff on this) to be spending a lot more time down on the
IT floors.  If we integrate at a much earlier stage we might not see any
divergence from how Geoff sees the end result to what actually appears.

Could you consider how to get your team spending much more time with Geoff -
I would suggest you have a daily time when you all (developers included) sit
down around a desk to look at progress.

Let me know what you think?

Louise

From: Zhiyong Wei/ENRON@enronXgate on 04/06/2001 06:55 PM
To: Louise Kitchen/HOU/ECT@ECT, Geoff Storey/HOU/ECT@ECT, Colleen
Sullivan/HOU/ECT@ECT, Philippe A Bibi/ENRON@enronXgate, Beth
Perlman/ENRON@enronXgate, Stephen Stock/ENRON@enronXgate
cc:

Subject: Inception Document for GTV II phase II

Attached please find the Inception Document for Gas Trading Vision II Phase
II. I would appreciate your comments. I will be circulating the document for
signatures on Wednesday. Please provide your inputs by then.

Thanks

Zhiyong


Dear Richard,

As per my conversation with Jeff Skilling last week in which he suggested that I contact you, I would like to request the names of the companies who we outsource some of our accounting needs to.  I would like to target them for our latest product: Data Storage Capacity.  Please let me know how you would like me to proceed regarding this matter.  Thank you.

Shalesh Ganjoo
Senior Analyst
(713) 853-5807
(713) 417-3034 (Cell)


Yes.  If you called 713 973 6325, it is the number my computer is on.  I'll
log off before 1000 so you can call on that number when you are ready.

Kay

	From:  Scott Healy @ ECT                           10/27/2000 09:26 AM

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

Subject:

In case I called the wrong telephone number, can we do a call today at 10:00
AM to discuss the PO?


Here is the our version of the Confidentiality Agreement.  Please let me know
if you have any questions.

Also, I talked to Scott Chambers and he said that he recently talked to you
and sent you some information.  Hope it helped.
Ben


FYI.

This background came out of one of our Govt Affairs - East Power Team
meetings.  Highlights the importance of spot energy markets for Kevin's
business.

Jim

----- Forwarded by James D Steffes/NA/Enron on 03/05/2001 09:35 AM -----

	Christi L Nicolay@ECT
	03/02/2001 09:46 AM

		 To: Jeff Brown/NA/Enron@Enron, Ron McNamara/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Aleck
Dadson/TOR/ECT@ECT, Daniel Allegretti/NA/Enron@Enron, Howard
Fromer/NA/Enron@Enron, Joe Hartsoe/Corp/Enron@ENRON, Donna
Fulton/Corp/Enron@ENRON, Tom Hoatson/NA/Enron@Enron, Steve
Montovano/NA/Enron@Enron, Jean Ryall/NA/Enron@ENRON, Tom Chapman/HOU/ECT@ECT,
Janine Migden/NA/Enron@Enron, Dave Mangskau/Corp/Enron@ENRON, Dan
Staines/HOU/ECT@ECT, Mike Roan/ENRON@enronXgate, Joe Connor/NA/Enron@Enron,
Kerry Stroup/NA/Enron@Enron, Steve Walton/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT,
Alan Comnes/PDX/ECT@ECT, Susan J Mara/NA/Enron@ENRON, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, jader@enron.com, Michael
Brown/NA/Enron@Enron, mark.bernstein@enron.com, scott.healy@enron.com,
john.llodra@enron.com, janelle.scheuer@enron.com, George
Wood/Corp/Enron@Enron, David Guillaume/Enron Communications@Enron
Communications, joe.gordon@enron.com, splauch@enron.com,
jennifer.n.stewart@enron.com, tom.dutta@enron.com, Posey
Martinez/HOU/ECT@ECT, Jim Meyn/NA/Enron@Enron, Berney C Aucoin/HOU/ECT@ECT,
Pearce W Hammond/Corp/Enron@ENRON, ozzie.pagan@enron.com,
heather.kroll@enron.com, david.fairley@enron.com, george.mccormick@enron.com,
wjennin@enron.com, joseph.wagner@enron.com, elizabeth.johnston@enron.com,
bill.rust@enron.com, Reagan Rorschach/NA/Enron@Enron, Edith
Cross/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, steve.wang@enron.com,
ebaughm@enron.com, terri.clynes@enron.com, oscar.dalton@enron.com,
doug.sewell@enron.com, kcompea@enron.com, mike.e.kelly@enron.com,
gary.justice@enron.com, patrick.hanse@enron.com, Brad Morse/HOU/ECT@ECT,
Berney C Aucoin/HOU/ECT@ECT, Bill Rust/HOU/ECT@ECT, bruce.sukaly@enron.com,
mike.curry@enron.com, jducote@enron.com, drew.tingleaf@enron.com,
cahn@enron.com, Russ Porter/Corp/Enron@ENRON, Jason R Wiesepape/HOU/ECT@ECT,
Berney C Aucoin/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Dave
Kellermeyer/HOU/ECT@ECT, Jeffrey Keenan/HOU/ECT@ECT, Rusty
Stevens/Corp/Enron@ENRON, Rebecca Walker/NA/Enron@Enron, John
Moore/Corp/Enron@Enron, Fred Mitro/HOU/ECT@ECT, Raimund
Grube/Corp/Enron@ENRON, Chris Booth/NA/Enron@Enron, Greg
Krause/Corp/Enron@Enron, Mathew Gimble/HOU/ECT@ECT, Steven
Krimsky/Corp/Enron@Enron, Michelle Zhang/HOU/ECT, Ron Tapscott/HOU/ECT@ECT,
Jeff Williams/Corp/Enron@Enron, W David Duran/HOU/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Dennis
Benevides/HOU/EES@EES, Suneet Sharma/HOU/EES@EES, John Zurita/HOU/EES@EES,
Kevin M Presto/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, W David
Duran/HOU/ECT@ECT, Mitch Robinson/Corp/Enron@Enron, Lloyd Will/HOU/ECT@ECT
		 cc:
		 Subject: Kevin's RTO Ideas for East

The East desk's No. 1 priority for RTOs is The Real Time Energy Market (no
day ahead balanced schedule requirement).  This means that the RTO should
post the supply and demand curve with real time prices (the best example at
this time is PJM's real time market).  A real time energy market is
fundamental for customers to get proper real time price signals upon which to
base their decisions to hedge or not on a forward basis.  It also provides
the proper price signals to the market on where generation and transmission
is needed.  Getting a real time energy market would advance Enron's ability
to provide more financial tools to customers.  This market can be nodal (or
zonal) in order to send location based price signals (for example, to NY
City), with the ability to aggregate from nodal to zone determined "proxy
buses."

While Kevin prefers the physical flowgate model with an option to collect
congestion revenues (rather than an obligation, similar to the PJM FTRs now),
the method of determining the congestion management is secondary to the
establishment of the real time energy market.  Regulatory people should use
their judgment (and talk with the desk) when determining how far to push
option-type flowgates, rather than obligation-type FTRs.  Such a physical
market transmission/congestion market can support a financial trading overlay.

If you do have an FTR type system, there should be an upfront allocation to
load.  Ideally, the load should have an "network" right from the generator to
their load (or from load to the "hubs") in order to have the ability to
manage the congestion risk in the forward market when serving end use
customers (EES) or for the ENA full requirements deals.  The nodes should be
grouped into logical "zones" and congestion within a zone should be uplifted.
This allocation to customers (or full blown auction of all rights) becomes
critical in Enron's ability to serve load and all requirements customers.
Without the proper allocation (not to incumbent utilties), the risk premium
to serve these customers becomes too high and can't be priced.

Finally, the market should have no price caps and preferably no icap market
like NEPOOL (prefer PJM's system where the load has to show the RTO that it
has contracted for enough reserves.)  We have urged the FERC in Florida to
adopt a reserve monitoring system, whereby customers are not penalized for
lack of icap unless they actually go under the reserve requirement, then they
are required to purchase icap for a certain amount of time until they
demonstrate continued compliance.

Bottom line -- "Do not let the perfect be the enemy of the good."  Congestion
does not need to be perfectly allocated to each load if that mechanism is
done in a manner that precludes Enron and others from developing efficient
real time energy markets that send a locational hourly price signal to the
generation (supply) and the load (demand).  This type of market will provide
greater services to customers and allow Enron to grow its business.

Finally, as we work toward this goal, remember that in the absence of a
real-time energy market, we need to continue to focus our efforts on
non-discriminatory treatment with respect to transmission (no native load
exception) and parking and lending, scheduling flexibility, etc.


John,

I have received your message regarding Mike Roberts. I could not
agree more. Mike deserves to be compensated for his exceptional
contribution.

Additional recommendation. I think that all weather forecasting support
should be consolidated under Mike (including the weather guys supporting
power trading). In my view, it was a mistake to remove Mike from
power support. It would also mean a lot to him personally.

Vince


Jay,

Does your group have space?

 -----Original Message-----
From: 	Gaskill, Chris
Sent:	Friday, February 01, 2002 1:59 PM
To:	Shively, Hunter S.
Cc:	Lavorato, John
Subject:	David Woodstrom

Hunter,

As I mentioned this morning, since Zach McCarroll turned down the offer we would like to explore the possibility of keeping David Woodstrom on the IT team to fill the open position.  The Fundamentals IT team has been cut to a minimum support staff, and the addition of David would facilitate more development of fundamentals content.  David has been focusing on the operational capacity reporting (morning ops reports) by creating better ways to access the operational data (real time query tool vs. standard reports).  David also has been responsible for maintenance and development of the commodity fundamentals website since he joined the group in early 2000.  He built and maintains the current message board system used by gas trading and as well as the critical notice alerts for pipelines.  He has also worked closely with the West desk and Portland on various real time load and outage reports.  David Dronet and I both feel that the addition of David Woodstrom will allow the fundamentals team to continue producing innovative products instead of providing only support for current operations.  Let me know if you have any questions.

Chris


_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp

 - 10-11 1000 Report.xls


Thanks Jeff, ETS Operations would be glad to look at these and any other
"potential" opportunity to operate 3rd party facilities. Don Hawkins is
heading up the "endless possibilities" for us. I did copy him on this reply,
Don is based in Houston.

I 'am currently in Amarillo Texas with the SW Operation Directors and I will
discuss this with Rich.

THANKS for the partnership.
R2

	Jeffery Fawcett
	11/27/2000 04:00 PM

		 To: Randy Rice/OTS/Enron@ENRON, Rich Jolly/ET&S/Enron@ENRON
		 cc: Susan Scott/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Mary Kay Miller/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON
		 Subject: Citizens request for proposal

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

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

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


Please find attached this week's publication of the Global Markets Monitor
for 08 December 2000.

Maureen Raymond-Castaneda and
Gwyn Koepke


David,

I got a phone call from Summit energy, through whom I supply full requirements gas to Smurfit Stone Container Corporations plants in southern California.  Smurfit has a couple of plants in El Paso, Texas, on the Southern Union System, that Summit is looking to obtian bids for.  The contact at Summit is Jason Ramsey and his number is 502-429-3800.  Their load is about 100,000 MMBtu annually.  Is there someone at EES that would be interested in working on this transaction?  Let me know if EES is not interested and I will let Jason know.

Thanks,

Kim Ward


At the request of John Griebling, I am forwarding the following information
regarding Sycamore Networks' acquisition of Sirocco Systems.  You may listen
to a playback of today's teleconference by dialing the highlighted numbers
below and entering the reservation number.  Please note that playback is only
available through 6:00 p.m. (EDT) on June 7.

Thank you,
Michael Salinas

ADVISORY/ Sycamore Networks Teleconference to Discuss Acquisition of Sirocco
Systems
	June 6, 2000 08:23 AM Eastern Time
	--(BUSINESS WIRE)--

WHAT:      Sycamore Networks (NASDAQ:SCMR) will discuss acquisition of
           privately held Sirocco Systems.  All media and industry
           analysts are invited to call into the teleconference.

WHO:       Daniel E. Smith, president and CEO of Sycamore Networks
           Jonathan Reeves, president and CEO of Sirocco Systems

WHEN:      Tuesday, June 6, 2000
           10:00 am EDT

WHERE:     Via teleconference
           800-670-3536      Domestic
           212-748-2817      International

           Playback information
        800-633-8284 or 858-812-6440
        Reservation # 15458146

           The call will be available for replay from 11:25 am EDT
           on June 6, 2000 through 6:00 pm EDT on June 7, 2000

	CONTACT: Sycamore Networks Rich Williams 978-250-2909 (wk) 978-764-8371
(mobile) or Melissa Morales 978-250-2972 (wk) 603-315-9404 (mobile)

Michael Salinas
Enron Broadband Services
Office:  713-853-3481
Cell:  713-417-8737


Cards win indeed. I like them for the series.
Are you cleaning fishing boats, too?

 -----Original Message-----
From: 	"Eric Ellwanger" <eellwanger@triumphboats.com>@ENRON
Sent:	Thursday, October 11, 2001 12:02 PM
To:	Wolfe, Jason
Subject:	Cards Win!

Hey there cheese dick. How's life in H-Town? This is my new work e-mail. I'm
doing accounting work at this boat manufacturer. If you're in the market for
a nice fishing boat you let me know. Capron filled me in on your quest for a
Vegas trip. Doesn't look good. Due to my recent bout of unemployment, I
don't think gambling would be a good use of my available fundage. Tara and I
will be in Houston Nov. 15th thru 18th for Curry's wedding. Plan on throwing
back a few that weekend when we get some spare time. Are you and Beth
together or apart at this time? I really could just flip a coin and get as
accurate an answer as you would give me, huh? Take it easy hombre. Go Cards!

--Eric


Attached is the HL&P spreadsheet for January.


Are these documents completed. BT
---------------------- Forwarded by Barry Tycholiz/CAL/ECT on 11/06/2000
11:50 AM ---------------------------

Barry Tycholiz
11/03/2000 04:34 PM
To: Dan J Hyvl/HOU/ECT@ECT
cc:
Subject: Re: Crestar Document

Basically the intent of this condition is as follows:  On the replacement
gas, we will purchase or sell this gas based on a GDDI but in the event that
this index is unavailabe at the time of the transaction or the index has
separated from the fixed price for that day then the counterparties have
agreed that we can buy/sell on a fixed price.  In either scenerio, when ECC
is acting as the agent, we shall be held harmless from a price exposure..

If this explanation is not clear enough... give me a call.

Barry


Hey Pavarotti,

Hope you day is going well and that everything is coming together for the big
presentation tomorrow.  My day is going significantly better than yesterday
so I am pleased.  Plus, my friend just emailed me from San Diego to inform me
that she can get us a great table to see the Symphony's last performance of
the season on Navy Pier...so I've got that going for me, which is nice.  By
the way, what did you end up deciding to do about this weekend - or haven't
you decided yet (the latter would not surprise me in the least...you're a fly
by the seat of your pants kind of guy or a slight procrastinator - - I always
get the two confused).

Now for the rule-breaking.  I realize it's already Wednesday but I wanted to
see if you had any interest in going to grab a bite to eat or just a drink
after work tomorrow or Friday night (in light of our heavy work loads, etc. I
hope you can forgive my rudeness).  Both you and Darren looked pretty whipped
last night and I'm sure tonight will be more of the same...You better be
careful, I think this project is starting to give you gray hair.

Shorty

- - I forgot to tell you last night that my 5 yr. old niece got in trouble on
the way to school yesterday because she punched a little boy in the eye.
Evidently, he was bothering she and her friend Reagan...I think my sister's
biggest fears have now been confirmed, little Sally may have taken after her
Aunt Sue Sue a little too much.


I WOULD PREFER TO REEXECUTE IF THERE IS TIME.  OTHERWISE, YOU CAN SUBSTITUTE PAGES AND GIVE ME A FULL COPY.  THANKS.


Gentlemen,

As our March cargo has been diverted to Lake Charles I do not see the need
for a conference call today. I will nominate tentative date for April and May
which we can revise next month. As an  indication I will nominate the 1-5
April followed by another cargo 35-40 days later. These dates are consistent
with the current planned outage and a dispatch rate of between 76% and 85%.
If anybody has and any questions or comments please let me know.

TP


hard to offend me

 -----Original Message-----
From: 	"Notestine, Kerry" <KNotestine@littler.com>@ENRON [mailto:IMCEANOTES-+22Notestine+2C+20Kerry+22+20+3CKNotestine+40littler+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 2:06 PM
To:	Cash, Michelle
Subject:	RE: Serious Health Condition based on Certification from a Nutrit ioni st

Sometimes you never know.  Sorry if I overreated.

Kerry E Notestine
Littler Mendelson, PC
1900 Chevron Tower
1301 McKinney Street
Houston, Texas 77010
713.652.4748
713.951.9212 (fax)
knotestine@littler.com
www.littler.com

-----Original Message-----
From: Michelle.Cash@enron.com [mailto:Michelle.Cash@enron.com]
Sent: Thursday, August 23, 2001 2:07 PM
To: KNotestine@littler.com
Subject: RE: Serious Health Condition based on Certification from a
Nutrit ioni st

Of course -- I was just giving you grief!

    -----Original Message-----
   From:   "Notestine, Kerry" <KNotestine@littler.com>@ENRON

[mailto:IMCEANOTES-+22Notestine+2C+20Kerry+22+20+3CKNotestine+40littler+2Eco
m+3E+40ENRON@ENRON.com]

   Sent:   Thursday, August 23, 2001 11:42 AM
   To:     Cash, Michelle
   Subject:  RE: Serious Health Condition based on Certification from a
             Nutrit ioni st

   I wouldn't put it exactly that way but ...  Sometimes you need to let
   them
   know that if they give a good response, the client can be billed a
   quarter
   hour.  Otherwise, we may not get a response.  I also do not want to bill
   for
   cursory or not well reasoned statements.

   Kerry E Notestine
   Littler Mendelson, PC
   1900 Chevron Tower
   1301 McKinney Street
   Houston, Texas 77010
   713.652.4748
   713.951.9212 (fax)
   knotestine@littler.com
   www.littler.com

   -----Original Message-----
   From: Michelle.Cash@enron.com [mailto:Michelle.Cash@enron.com]
   Sent: Thursday, August 23, 2001 11:35 AM
   To: KNotestine@littler.com
   Subject: RE: Serious Health Condition based on Certification from a
   Nutritioni st

   So, my question goes to the highest bidder . . .

       -----Original Message-----
      From:   "Notestine, Kerry" <KNotestine@littler.com>@ENRON

[mailto:IMCEANOTES-+22Notestine+2C+20Kerry+22+20+3CKNotestine+40littler+2Eco
   m+3E+40ENRON@ENRON.com]

      Sent:   Thursday, August 23, 2001 9:25 AM
      To:     #All Attorneys Firmwide
      Cc:     Cash, Michelle
      Subject:  Serious Health Condition based on Certification from a
                Nutritioni st

      Client received an FMLA leave request based on a Certified
      Nutritionist's
      completion of the serious health condition form.  This does not
   appear
      to be
      a person authorized by the regs to certify a person as having a
   serious
      health condition.  Any thoughts on how to respond to this leave
   request.
      Billable credit for the most helpful response(s).

      Kerry E Notestine
      Littler Mendelson, PC
      1900 Chevron Tower
      1301 McKinney Street
      Houston, Texas 77010
      713.652.4748
      713.951.9212 (fax)
      knotestine@littler.com
      www.littler.com

      ----
      This email may contain confidential and privileged material for the
   sole
      use of the intended recipient(s). Any review, use, distribution or
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      recipient (or authorized to receive for the recipient), please
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      the sender by reply email and delete all copies of this message.

      To reply to our email administrator directly, send an email to
      postmaster@littler.com

      Littler Mendelson, P.C.
      http://www.littler.com

   **********************************************************************
   This e-mail is the property of Enron Corp. and/or its relevant affiliate
   and
   may contain confidential and privileged material for the sole use of the
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   This email may contain confidential and privileged material for the sole
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   To reply to our email administrator directly, send an email to
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This email may contain confidential and privileged material for the sole use of the intended recipient(s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender by reply email and delete all copies of this message.

To reply to our email administrator directly, send an email to
postmaster@littler.com

Littler Mendelson, P.C.
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Hello,

The first edition of the weekly new generation report is available at:

O:_Dropbox/West New Gen/Weekly/1_10_19_01.

This is the first edition of a new report that is designed to provide Enron employees with the latest media reports and market analysis on issues affecting new power plant construction in the WSCC.  If you have any questions or comments about this new report, don't hesitate to bring them to my attention.  Thanks and enjoy,

James Bruce
Enron North America		(503) 464-8122
West Power Desk		(503) 860-8612 (c)
121 SW Salmon, 3WTC0306	(503) 464-3740 (fax)
Portland, OR 97204		James.Bruce@Enron.com


-----Original Message-----
From: 	Koehler, Anne C.
Sent:	Friday, October 19, 2001 5:59 PM
To:	'dannysullivan@akllp.com'; Jones, Tana
Subject:	Bin Laden's special song

 -----Original Message-----
From: 	Leite, Francisco Pinto
Sent:	Friday, October  19, 2001 5:30 PM
To:	Koehler, Anne C.
Subject:	FW: FW: [Fwd: FW: Message from Boeing]

Francisco Pinto-Leite
Enron Americas
1400 Smith Street, EB 3888
Houston, TX 77002-7361

Tel: 713-345-7942
Fax:713-646-3490
fleite@enron.com <mailto:fleite@enron.com>

 -----Original Message-----
From: 	dstoldt@kayescholer.com@ENRON <mailto:dstoldt@kayescholer.com@ENRON>
Sent:	Friday, October 19, 2001 8:38 AM
To:	PMorreale@McKeeNelson.com <mailto:PMorreale@McKeeNelson.com>
Cc:	addisd@anz.com <mailto:addisd@anz.com>; cray@omg-law.com <mailto:cray@omg-law.com>; davanzo-morreale@worldnet.att.net <mailto:davanzo-morreale@worldnet.att.net>; Leite, Francisco Pinto; jmartin@schiffhardin.com <mailto:jmartin@schiffhardin.com>; jmorr55@aol.com <mailto:jmorr55@aol.com>
Subject:	Re: FW: [Fwd: FW: Message from Boeing]

That was good but this tops it.

Clearly the best one so far.

Enjoy!

<http://www.gotlaughs.com/funpages/bin2.cfm>

________________________________
Derek M. Stoldt
Registered Foreign Lawyer
Kaye Scholer LLP
10th Floor
88 Wood Street
London EC2V 7RS
(T) 011-44-(0)-20-8528-1407
(F) 011-44-(0)-20-8528-1206
or 212-836-6532 (direct to computer)
-------------------------------------------------------------------------------

THIS EMAIL AND ANY ATTACHED FILES ARE CONFIDENTIAL AND MAY BE LEGALLY
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A list of the names of the partners and their professional qualifications
is open to inspection at the principal office 88 Wood Street London EC2V
7RS.  The partners are either solicitors or registered foreign lawyers.


I think that the deal it should go with is 516942.  Thanks.
PL


Chris, I don't believe that this is real. Sounds like a CES system mistake.
Let
us know what you find Scott. Thanks.

cgerman@ect.enron.com on 01/12/2000 07:27:18 PM
Please respond to cgerman@ect.enron.com

To: Noel Bartlo/CES/ColumbiaGas@COLUMBIAGAS, Paul Drexelius
[NOTES.pdrexel]@LMSOV
cc: csulliv@ect.enron.com, jtownse@ect.enron.com,
sgoodel@columbiaenergygroup.com
Subject: Equitrans

I have very little info on this deal.  Who pays for the FT on Equitrans?
Contract 270, volume=1,000/day, start date = 7/1/97, max demand, all receipts
and all deliveries, AND the end date is 10/31/2099 (looks suspicious to me).
Scott is trying to find the term of this deal from Equitrans.  I believe
Equitrans did say this is a capacity release deal.

Scott, I'm going to list this as a wholesale deal for now.  It was not on my
wholesale transport worksheet from Mark Breese.  Please email everyone with
the
end date when you find out.  Also, please find out who the releasing shipper
is
and the primary receipt and delivery points.

Thanks


Hi,
	FYI here is an updated spreadsheet summarizing the data vendor research and model development.

	Please let me know if any thing is missing, wrong, should be deleted, etc.

Thanks,
Iris

 -----Original Message-----
From: 	Salmon, Scott
Sent:	Monday, April 09, 2001 2:15 PM
To:	Dhar, Amitava
Cc:	Mumford, Mike; Kirkpatrick, Eric; Mack, Iris
Subject:	Re: Data for private firm model

Great work Iris!  This gets us heading down the right direction and we'll have some project scope documentation ASAP.

Cheers,
Scott

Amitava Dhar
09/04/2001 19:25
To:	Scott Salmon/EU/Enron@Enron, Mike Mumford/LON/ECT@ECT, Eric Kirkpatrick/EU/Enron@Enron
cc:	Iris Mack/ENRON@enronXgate

Subject:	Data for private firm model

The enclosed spreadsheet contains a summary of preliminary data search plan prepared by Iris.  We will talk about further progress during our conf. call on Wednesday.

 << File: Credit Modeling-Derivatives.xls >>

<Embedded Picture (Device Independent Bitmap)>


You should be ok, try again.

	Enron North America Corp.

	From:  Michael Walters                           07/21/2000 01:25 PM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: League Site Available

After selecting my name, the system "does not recognize who I am."   Am I
registered?

Mick

	Enron North America Corp.

	From:  Eric Bass                           07/20/2000 11:25 AM

To: Jason.Bass2@COMPAQ.com, Phillip M Love/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, lqcolombo@aol.com, Michael
Walters/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Harry Bucalo/HOU/ECT@ECT,
Gary W Lamphier/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Hector
Campos/HOU/ECT@ECT, Lenine Jeganathan/HOU/ECT@ECT, Brian Hoskins/HOU/ECT@ECT
cc:
Subject: League Site Available

Our League Site has been set up.  It is the same site as last year.  Please
take some time to Change your team name and logo.  In addition, for those new
players, the rules are listed on the site.

Let me know if you have questions.

The league abbreviation is kourn.

http://football0.commissioner.com/mp/splash/join-mgmt

Eric


Thanks man!

Fletch


Join Enron Federal Credit Union and The Foundation for Financial Literacy,
for our 4th in a series of 5 Financial Wellness Workshops:

      Financial Wellness Workshop
      Rating them by Risk Versus Reward: Investments:
      Wednesday, September 27
      11:30 a.m. - 12:30 p.m.
      Doubletree - Allen Center  (LaSalle A Room)
      Cookies and soft drinks will be served.

Our last workshop of the year is:
Tuesday, October 24  Topic:  Living too Long, Dying too Soon, Disability or
Impairment:  Estate Plans

You may reserve your seat for both of our workshops by sending your
reservation to Jennifer.Wilson@enron.com.  We look forward to seeing you!


Happy New Year.

Here's to a better 2002.

Wade


I still have not released the 700 dth of capacity from VNG to Nabisco on
CGAS.  I just spoke with Henry Riewerts at Nabisco.  He does not have a
navigator ID and password.  This will be the only CGAS activity he has and he
has not bought any gas for Nov either.  I think he needs someone to handle
this for him.

Is this the type of thing we can pass on to EES?


This Transco cheatsheet was created from our regulatory group within logistics...THANKS

 -----Original Message-----
From: 	Molinaro, Jeffrey
Sent:	Friday, October 05, 2001 9:08 AM
To:	Lamadrid, Victor; Kinsey, Lisa; Sullivan, Patti; Smith, George F.
Cc:	Olinger, Kimberly S.; Calcagno, Suzanne
Subject:	Rates Cheatsheets

Hello all,

In an effort to make rate information more accessible, I have created Rate Cheatsheets for Transco, ANR and Transwestern.  The chestsheets include rates for basic Firm and Interruptible transportation service as well as fuel percentages, surcharges, cash out provisions and overrun information.

More pipelines will be added in the near future.  Let me know if you have any comments or questions.

Thanks,

Jeff