----- Forwarded by Jeff Dasovich/NA/Enron on 02/23/2001 04:53 PM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	02/23/2001 04:18 PM

		 To: IEP <jmunoz@mcnallytemple.com>
		 cc:
		 Subject: Governor Davis Announces Principles of Agreement with SCE

Jan will be responding to the attached remarks by Governor Davis during the
IEP press call at 3:00 PST.  Call in # is 1-800-374-2393, Pass code:
Independent Energy Producers.

Thanks,
Jean

--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)

PR01:065
FOR IMMEDIATE RELEASE
02/23/2001 02:05 PM

GOVERNOR DAVIS ANNOUNCES PRINCIPLES OF AGREEMENT WITH SOUTHERN CALIFORNIA
EDISON

LOS ANGELES

Governor Gray Davis today announced an agreement in principle with Southern
California Edison to keep the utility solvent.

"This is the framework of a good, balanced deal," said Governor Davis. "It's
not a final deal. There's a lot of work to be done. But we're making
progress.

"This is a complex transaction with a lot of moving parts. With these terms
in place, I'm confident we'll be able to hammer out a final agreement
shortly."

The State has agreed to purchase the utility's transmission lines for an
estimated $2.76 billion (2.3 times estimated book value) and allow Edison to
issue bonds for a substantial portion of its undercollection.

In exchange, Southern California Edison has agreed to:

*    Make payments from its parent company, Edison International, to the
utility of approximately $420 million;
*    Commit the entire output of the parent company's Sunrise Mission power
project at low "cost-based" rates for 10 years (a value to ratepayers of
$500 million over the next two years);
*    Provide cost-based rates from the generating facilities they own for
another 10 years;
*    Conservation easements on 20,000 acres of watershed lands for 99 years;
and
*    Drop their pending litigation against the Public Utilities Commission
that would have resulted in immediate higher electric rates for consumers if
they had prevailed in court.

Negotiations will continue during the next several days with the utility.

###


John Lavorato confirmed that UBS is indeed the winner.  As I understand it, UBS has come to an agreement with Enron for the purchase of the North America Gas/Power Trading and Marketing organization.  We either have received or are expected to receive approval from the Creditors committee today.  Creditors Committee approval is considered likely as they have been in the loop on this transaction all along.  It will most likely go in front of the judge on Monday.  Approval from the judge is expected.  I have a meeting in the next couple of hour where I will get more details.  Stay tuned ...

Tim


Scott,

I'm receiving faxes from you guys everyday, and would just like to be taken
off the global e-mail distribution.

Thanks,

Fletch Sturm
Enron


Muchas gracias!

From: Kathleen Carnahan/ENRON@enronXgate on 05/29/2001 03:17 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Midway

Good question.  I thought he was through with it last week.  I'll check up on
it.

 -----Original Message-----
From:  Mann, Kay
Sent: Tuesday, May 29, 2001 3:03 PM
To: Carnahan, Kathleen
Subject: Midway

How's Glenn doing with my binder?  Lots of Midway activity this week.

Thanks,

Kay


Ted Murphy wants you to call him next week to discuss "stuff".   Are you available to call at any of the following times?

Tuesday  10:00am - 11:00am EDT
Wednesday   9:30am- 11:00am EDT
Friday   8:00am - 9:30am EDT

Set up Risk Management meeting w/ Stan Horton, Vlady, etc. 3:30-4:30pm on Sept. 10.

FYI - Enron Management Conference is November 14, 15 & 16 in San Antonio.

Sarah Heineman trying to set up meetings Sept 11, 12 & 13 in Boston (Fleet & others), Banks in NYC & annual Toronto bank trip (you will be flying commercial)  shall I book you to Boston or somewhere up there close from Toronto on the return?


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 09/28/2000
01:09 PM ---------------------------

	From:  Phillip K Allen                           09/28/2000 10:56 AM

Liane,

 As we discussed yesterday, I am concerned there may have been an attempt to
manipulate the  El Paso San Juan monthly index.  It appears that a single
buyer entered the marketplace on both September 26 and 27 and paid above
market prices ($4.70-$4.80) for San Juan gas.  At the time of these trades,
offers for physical gas at significantly (10 to 15 cents) lower prices were
bypassed in order to establish higher trades to report into the index
calculation.  Additionally, these trades are out of line with the associated
financial swaps for San Juan.

 We have compiled a list of financial and physical trades executed from
September 25 to September 27.  These are the complete list of trades from
Enron Online (EOL), Enron's direct phone conversations, and three brokerage
firms (Amerex, APB, and Prebon).  Please see the attached spreadsheet for a
trade by trade list and a summary.  We have also included a summary of gas
daily prices to illustrate the value of San Juan based on several spread
relationships.  The two key points from this data are as follows:

 1.  The high physical prices on the 26th & 27th (4.75,4,80) are much greater
than the high financial trades (4.6375,4.665) on those days.

 2.  The spread relationship between San Juan and other points (Socal &
Northwest)  is  consistent between the end of September and
       October gas daily.  It doesn't make sense to have monthly indices that
are dramatically different.

 I understand you review the trades submitted for outliers.  Hopefully, the
trades submitted will reveal counterparty names and you will be able to
determine that there was only one buyer in the 4.70's and these trades are
outliers.  I wanted to give you some additional points of reference to aid in
establishing a reasonable index.  It is Enron's belief that the trades at
$4.70 and higher  were above market trades that should be excluded from the
calculation of index.

 It is our desire to have reliable and accurate indices against which to
conduct our physical and financial business.  Please contact me
anytime I can assist you towards this goal.

Sincerely,

Phillip Allen


Leonardo -- Please give me a call to touch base on progress.  Per a
discussion with Ed Baughman, please use the folllowing references for the
products:

 Summer 2000 Capacity & Energy
 Summer 2000-2002 Capacity & Energy

Thanks,
David

	Leonardo Pacheco@ENRON
	07/06/2000 02:29 PM

		 To: David Portz/HOU/ECT@ECT
		 cc:
		 Subject: Capacity Generation Auction website text

David,

Attached please find the website text for the Capacity Generation Auction. I
have made some changes and added a couple of new pages. Please review the
changes (marked). Furthermore, I added a Bid page and a Bid List. This two
pages are used as visual references by our developers. We need to make sure
that they are correct, so please verify the information on them. Also, you
need to come up with a short reference for your two products so they can fit
on the drop down boxes and in the Bid List.

Let me know if you have any questions.

Thanks!

Leonardo Pacheco
ext. 39938


Ditto Credit.

	Tana Jones@ECT
	03/21/2001 09:22 AM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: EOL approvals, 3-20-01

----- Forwarded by Tana Jones/HOU/ECT on 03/21/2001 09:22 AM -----

	Walter Guidroz/ENRON@enronXgate
	03/20/2001 05:30 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global Contracts and Facilities@ENRON, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ENRON, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications
		 cc:
		 Subject: EOL approvals, 3-20-01

Please see attached.


Here's the file from Jeff.
---------------------- Forwarded by Robin Rodrigue/HOU/ECT on 03/05/2001
04:21 PM ---------------------------

Jeffrey C Gossett
03/05/2001 04:22 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Historical Curves


USCAA Track & Field Championships, June 9, 2001
The Enron Running Club is seeking runners, sprinters, discus & shot put
throwers, and high jumpers & long jumpers to compete in the annual USCAA
Track & Field Championships on Saturday, June 9th at Rice University.
Participate in co-ed track relays & field events of all ages and abilities;
showcase your energy and talents in a challenging, competitive, and fun
environment; participate in an Enron tradition since 1994; experience
teambuilding and camaraderie like never before!  For more information or to
sign up, contact Cindy Richardson at x3-4770 or sprint to:
http://home.enron.com:84/erc/index.html

Heights Fun Run 5K
Join the Enron Running Club at the Heights Fun Run 5K benefiting The Houston
Heights Association,s Community Projects scheduled for Saturday, June 2nd.
If you,re interested in running or volunteering your time, please contact
Cindy Richardson at 713-853-4770 or Kelly Lombardi at 713-345-5841.  For more
information, run to: http://home.enron.com:84/erc/index.html.

Dad,s Day 5K
Join the Enron Running Club at the Dad,s Day 5K and 1 Mile Family Walk
benefiting The Prostate Cancer Research and Awareness scheduled for Saturday,
June 2nd.  If you,re interested in running or volunteering your time, please
contact Cindy Richardson at 713-853-4770 or Kelly Lombardi at 713-345-5841.
For more information, run to: http://home.enron.com:84/erc/index.html.

Stop by for some Texan BBQ, fresh air and Entertainment at Antioch Park

The Assist The Officer Foundation (ATO), a non-profit organization working
independently,  is inviting all Enron employees to come by Antioch Park  on
Friday, June 1st from 11am - 1pm and enjoy a delicious plate of BBQ for only
$5.  Come and listen to the tunes of KRBE with Gabe, their mobile DJ, and
raffles with many prizes will be given away.  Raffle tickets will be $2 each
or 3 for $5.  ATO is dedicated to assisting Houston peace officers injured or
disabled in the line of duty.  Please come out and support your local law
enforcement professionals.

The Caladium plants that are in the huge plant pots throughout the Plaza are
going to be replaced and will be available for purchasing on Monday, June 4th
for $4.00 in the Plaza by the up escalator from 11 a.m. to 12 p.m..

Join us in Dublin or Honolulu ----Joints in Motion is a marathon training
program for walkers and runners that is aligned with a fundraising effort for
the Arthritis Foundation.  The Dublin Marathon will be held Oct. 29 and the
Honolulu marathon will be December 9.  Please call for more information at
713-529-0800.

Volunteer for the Boys & Girls Club Summer Camp Weekends!!!
Kevin Hannon, Boys & Girls Club board member, invites you to join Enron
employee John Cote at a Boys & Girls Club summer camp who is looking for
commitment from a FEW GOOD ENRON MEN AND WOMEN:

WHAT:   2nd Annual Houston Boys and Girls Club / Enron Summer Camp Weekend (2
camps)

WHEN:   Boys Camp
  Friday afternoon (3:00 - 6:00pm), June 22 through Sunday afternoon, June 24
  --OR--
  Friday afternoon (3:00 - 6:00pm), July 20 through Sunday afternoon, July 22

  Girls Camp
  Friday afternoon (3:00 - 6:00pm), July 6 through Sunday afternoon, July 8
  --OR--
  Friday afternoon (3:00 - 6:00pm), July 13 through Sunday afternoon, July 15

WHERE: Willis, TX (75 minutes from downtown Houston -- just north of Conroe)

WHO:   6-8 counselors per camp to chaperone 75 boys (ages 7-16)

HOW:   Share all sports activities, including canoeing, hiking, fishing,
organizing a talent    show/bonfire/ghost stories, obstacle course, water
balloon fights, softball, basketball,   archery, football, etc.  (Cooking and
clean-up covered by the Houston Boys Club staff.)

CONTACT: John A. Cote at ext. 33830

SPREAD THE WORD.  SPOUSES & OFFICE COLLEAGUES WELCOME.
LAST YEAR'S CAMP WAS A HUGE SUCCESS!

Volunteers Needed for Bring Your Child to Work Day!

Bring Your Child to Work Day is Friday, June 29

Please email Jennifer Milligan if you are interested in volunteering and
indicate your preference in the below activities:

Registration Table
Houston Police Dept / Stranger Danger / Fingerprinting
Outdoor Activities (SPCA pets, Balloon King, kids crafts, etc.)
Business Etiquette class
Business Art (kids' resumes, etc)
Lunch ticket sales/coordination (in Antioch Park)

The Enron Running Club and the Houston Corporate Athletic Association are
seeking volunteers to assist at the annual USCAA Track & Field Championships
on Saturday, June 9th at Rice University.  There are many volunteer
opportunities requiring little or no experience including timers, scoring,
lane judges, cheering on athletes and more!  We are looking for employees,
families and friends that can contribute a few hours or who are willing to
spend the day benefiting a great cause.  If you are interested or would like
more information, please contact Kelly Lombardi at x3-8491.

Many volunteers are needed to help with the planned activities for the Enron
Children on June 29th.  If you're interested, send your name and phone
extension to workperks.enron.com.

Support KidSave and Help Miracles Happen. Every Summer.

Kidsave,s  Summer Miracles Program enables orphaned children ages 5 to 11 to
travel to the  US and Canada, live with families and attend day camp. The
program gives  families who may be concerned about the problems of adopting
an older child a chance to meet, get to know and in the best-case scenario,
fall in love with a  child. The program gives prospective parents an
opportunity to see and evaluate  first-hand the challenges and rewards of
adopting an older  child.

In 1999 and  2000 Kidsave and adoption agency partners placed 432 children -
96 percent of  children who participated in the program. Generally, 85 to 90
percent of  children who participate in the program find homes easily through
the program.  The remaining 10 to 15 percent require more work.

Kidsave  believes every child deserves a family. We are committed to placing
all children  who participate in the Summer Miracles Program in permanent
families or  family-like environments.

We are looking  for families to host children, and for others who want to
help us make the camp  program happen for these 250 children.   As a
non-profit organization, Kidsave depends on donations to raise the  money to
bring these children here and find them families.  Please call Tonya Hoppe at
281.286.8948  or tonya@tonya.cc to get involved in Houston,s  Kidsave
program.

Find Out how to Join The Downtown Club May 29 & 30!
The Downtown Club (formerly The Met-Business & Sports Club)Membership
representatives from The Downtown Club will be in the Enron Plaza
Tuesday-Wednesday, May 29-30, from 11 am - 1 pm to discuss membership, the
new "Signature Gold" program (see attached file for more information), and a
new membership referral program.  Don't miss out on this opportunity to join
the Downtown Club or to upgrade your current membership.  As a reminder, a
$200 initiation fee is required for new memberships.   For more information,
contact The Downtown Club Membership Services department at 713-652-0700 or
Georgia Fogo, ext. 3-5609.

http://home.enron.com:84/messaging/siggoldcourses.pdf

Enron and Kidventure Camps are proud to bring you Camp Enron Summer 2001.
Celebrating our third year, Camp Enron  will once again be providing summer
camp for children, ages 5-13, of Enron employees and contractors.

This year, camp will be May 29-August 10.  Ten, one-week sessions will be
available and families may choose to attend any or all sessions.  Each camp
week is Monday through Friday.

The cost is $150 per week and includes all transportation, field trips and
activities.  A deposit of $50 per week is all that is needed to reserve your
sessions.   The deadline to register is Monday, May 21.

To register, log on to: http://www.kidventurecamp.com/camp_enron.htm.
Spaces are limited.

Enron parents simply ride to work with  their children and check them in to
the Energizer in the morning with the Camp Enron Team.  Enron Campers are
loaded on Coach USA Buses and transported to our nearby camp. At the end of
the day campers are brought back to the Energizer for parents to check out.

It's that easy!

For more information please contact:

web site: www.kidventurecamp.com
call Kidventure: 713.960.8989
e-mail: camps@kidventurecamp.com

Have News to Share?
To post news or events in Enron In Action, please e-mail your information to
EIA@enron.com
no later than 12:00 noon the Thursday prior to the next Monday,s mailing.


Got a question about Enron or what our businesses are doing?  Ask Jeff Skilling!  Join him for an Office of the Chairman "open mike" session today (May 30) on eSpeak at 10 a.m. Houston time.
Can't make the live event?  No worries.  Go to eSpeak (http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your question.  Jeff will try to answer it during his event and you can read the transcript later.

Cost cutting ideas are still coming into the Thinkbank (http://nahou-lnapp01.corp.enron.com/eThink/Thinkbank.nsf/HomePage?OpenPage).  We know you've got some great ideas tucked away in that brainy head of yours -- deposit them into the ThinkBank!

There's some fiesty conversations going on in eMeet http://nahou-lnapp01.corp.enron.com/eThink/eMeet.nsf.  Start your own today!


Join Ken Lay on eSpeak at ethink.enron.com, Friday, July 14 at 10 a.m.
Houston time.  Enron's Chairman and CEO will conduct an "open mike" session
to answer whatever questions you have for him.

Are you at a remote location or can't make the event? Go into eSpeak now and
pre-submit your question(s) for Mr. Lay to answer during the scheduled
event.  We want to answer everyone's questions, but due to the high volume of
questions we anticipate on this session, it would be helpful if you can keep
your questions short and simple.  This will increase the opportunity for your
question to be answered.

eThink: Invest Your Mind


---------------------- Forwarded by Phillip M Love/HOU/ECT on 07/14/2000
02:01 PM ---------------------------

Jim Little
07/14/2000 02:04 PM
To: Cathy Sprowls/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT
cc:
Subject: Re: 05/00 Central Synthetic Storage

I looked into these deal and I have good reason to believe they should have
been flashed by economics under CPR PIPELINE EXCHANGE.  They will fall out as
a lone liquidation on the COMPARE REPORT, but only because CPR PIPELINE
EXCHANGE, while flashed on the desk is not included in the CPR detail for the
COMPARE REPORT.  They should be offset by the flashed detail or they should
be put into the economics section as an adjustment to the desk.

	From:  Cathy Sprowls                           07/14/2000 11:02 AM

To: Jim Little/HOU/ECT@ECT
cc:
Subject: 05/00 Central Synthetic Storage

Jim

I've identified the following deals that I believe are synthetic storage that
I will assign to Gas Accounting as reclasses to future months.  Please let me
know if you disagree:

Panhandle Eastern NG9695.3 1,479,927.04 looks like turnaround on leg 1 in
08/2000

Northern Natural Gas NG4225.3 59,250.00 looks like turnaround on leg 1 in
07/2000
Northern Natural Gas NG6882.3 29,625.00 looks like turnaround on leg 1 in
07/2000
Northern Natural Gas NH0933.3 177,749.98 looks like turnaround on leg 1 in
09/2000
Northern Natural Gas  NH7769.3 53,016.90 looks like turnaround on leg1 in
07/2000
Northern Natural Gas NI2881.3 29,625.00 turnaround leg 1 07/2000
Northern Natural Gas NI9625.3 88,874.99 turnaround leg 1 07/2000
Northern Natural Gas NJ1525.3 29,625.00 turnaround leg 1 07/2000
Northern Natural Gas NJ6166.3 29,625.00 turnaround leg 1 06/2000

Thanks for your help.

Cathy


Tanya,

No problem.

Vince

Tanya Tamarchenko
12/12/2000 01:28 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: Re: Tanya's vacation

Vince,
I was going to take afternoon off this Thursday.
Is it OK?

Tanya


CALENDAR ENTRY:	APPOINTMENT

Description:
	EDI DRA Omaha w/Sheila, Bob M, D. daze, F. Punts, Mary D, Jim S & Tammy L-J - 4102

Date:		11/10/2000
Time:		10:00 AM - 11:00 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Steve, if your information is important - please stop sending it to me.  You must set your e mail list correctly for <bill.williams.III@enron.com>.

I'm concerned that if you keep sending it to the wrong Bill Williams (me) - whatever needs to be reviewed or get accomplished won't happen.
Please take care of this.

If you have any questions - please call me.

Regards
Bill W. (not Bill III)

503-464-8958

 -----Original Message-----
From: 	Merris, Steven
Sent:	Sunday, June 24, 2001 7:41 PM
To:	EES Power Settlements,
Cc:	Williams, Bill
Subject:	EES Model for 6/24/01

 << File: 06-24.xls >>


How can you sell Enron for $9.50 per share?  We've already lost almost everything we have in our 401k and the only hope to recover anything is if Enron can battle back.  Is the company in such poor shape that it can't survive on its own?  If so, how did that happen?


John,
Scott Knowles in our  Denver office will have one of your techs delete some
tem files which should  resolve your problems.? In addition, he said you
should not upgrade.?  If you have tried to do this then we may need to
re-install CQG on your  system.
Eugene


Thanks

Vince

 -----Original Message-----
From: 	Leppard, Steve
Sent:	Friday, August 03, 2001 10:51 AM
To:	Kaminski, Vince J; Whalley, Greg; Lavorato, John; Gold, Joe
Cc:	Danilov, Viacheslav; Hewitt, Kirstee
Subject:	Prediction Company meeting minutes

Attached.

All the best,
Steve
 << File: Minutes 30th July 2001.doc >>


---------------------- Forwarded by Darron C Giron/HOU/ECT on 10/17/2000
10:14 AM ---------------------------

"hollyw" <hollyw@email.msn.com> on 10/17/2000 09:32:29 AM
To: "Sheri Thomas" <Sheri.Thomas@enron.com>, "Rochelle Smith"
<rochelle@waterengineers.com>, "Rick Couvillon" <julierickcouv@hotmail.com>,
"Raymond Paterson" <ray_paterson@hotmail.com>, "Nicol, Gary" <nicolg@bp.com>,
"Matt Frazier" <fraz2girls@ev1.net>, "Len" <bigusdickus70@hotmail.com>,
"KRISTI GIRON" <KRISTI.GIRON@cfisd.net>, "John Schmitz" <jschm@telxon.com>,
"Jim Miller" <jraggie1@pdq.net>, "Jim Henness \(E-mail\)" <jhennes@c2i2.com>,
"Darron C Giron" <Darron.C.Giron@enron.com>, "Ben Schulein"
<advantage@infovia.com.ar>, "Barbara Denson" <bbdenson@pdq.net>
cc:
Subject: Fw: FW: Does this skirt make my butt look big?

I'm sooooooo busted for not wearing  panties!!!!
?
----- Original Message -----
From: Burgess,  Diane
To: 'gmind@icsi.net'
Sent: Friday, October 13, 2000 3:47 PM
Subject: FW: FW: Does this skirt make my butt look big?

-----Original Message-----
From: Lisa  Bludau [mailto:lbludau@advtravel.com]
Sent: Thursday, October 12, 2000 12:43 PM
To: 'dburgess@owenhealth.com'
Subject: FW: FW: Does this skirt make my butt look big?

>? -----Original Message-----
> From: ??????? Claudia Osso?
> Sent: Thursday, October 12, 2000 12:32 PM
> To:?? Ann Pedersen; Lisa Bludau; Christene  Hayles
> Subject:????? FW:  FW: Does this skirt make my butt look big?
>
> HOLD ONTO YOUR CHAIRS !!!!!!!!!!!!!
>
> -----Original  Message-----
> From: Michele McCauley
> Sent: October 12, 2000 12:48 PM
> To:?? Anthony Cascio; Christopher Magee; Claudia Osso; Dan  Nevill; Darren
> Tordy; Debbie Hersh Helberg; Joe  Giannadeo; Michael Favichia; Murray
> Braver; Shalini  Vaswani; Will Chwalkowski; Jose Davila; 'Brendan M.';
> 'allie'; 'Bryan'; 'Carty'; 'Brendan'; 'Dan & Doreen'; 'Justin  Currie';
> 'Lee Lee'; 'Lisa'; 'Mark'; 'Nicole';  'Regan'; 'Roland'; 'Ryan'; 'Sheila';
> 'Todd';  'Tony'
> Subject:????? FW:  FW: Does this skirt make my butt look big?
>
>
> skirt make my butt  look big?
>
>?  <<Hoochie Mama.mpe>>?
>

?

 - Hoochie Mama.mpe


maine impossible to get to...next option?


Hi group,

I emailed Lari (who confirmed that we are on the reservation list, without
credit card numbers or deposit because she knows us ...) that we think we'll
have five for an all-day ride on Sat. (Pat, me, Cal, Pippa and Madeleine)
and six for a half day on Sunday (same plus Nora).  Jeff may join us.  Lari
is aware the actual number may be slightly more or less, but obviously if
you decide not to go, the earlier she knows, the easier for her.  We start
at 9:30 a.m. on Sat, and 10:00 a.m. on Sun.

Jeff, we hope you can make it.  If anyone else wants to join also, please
let me know.

Re hotel, right now there is moderate availability in Mendocino/Fort Bragg
for that weekend in Sept. (nights of 21-22), but most of the hotels up there
charge a cancellation fee of anywhere from 3% to $20.00, no matter how early
one cancels.  So it probably does not make sense to reserve rooms at several
places thinking we will decide later.

Please give your vote, which of these would you be interested in (or if you
have another suggestion, please feel free to offer it -- I'm overwhelmed
with the many other choices and have no personal experience with any to rely
on):

Cleone Gardens, recommended by Lari, literally across the street from the
ranch on the north end of Fort Bragg, with a number of rooms in the $85-$100
range, also some multi-bed rooms for a little more; it looks nice and
comfortable on the website though not really "fancy" (there are links from
Lari's site, www.horse-vacations.com).  Breakfast can be ordered.  Because
of proximity to ranch and town, this is my preference.

Howard Creek Ranch Inn (Madeleine's preference), in Westport, north of Fort
Bragg.  Very quaint renovated farmhouse B&B, Martha Stewart type garden,
private rooms are around $105, and some two-bed rooms are between $105 and
$160 if we don't mind sharing rooms/living room sleepers.   The upside is
the charm and ambience, the downside is the remote location and the distance
from Fort Bragg (30 minutes fast driving) and that we may therefore miss
breakfast both days.  They serve it at 9:00 a.m., and with the minimum
30-minute drive to the ranch, that makes getting to both breakfast and
riding on time unrealistic.  And, as we all know, rides may start late, but
they always end on time, so its important to be prompt to get our full
riding time!  I asked if the B&B is willing to do breakfast at another time
and they said no (they start cooking before 7:00 a.m. even to meet the 9:00
deadline, so I'm not sure how much earlier they could really do it).
(www.howardcreekranch.com)

Looking forward to hearing your thoughts!

Amy


That's a good idea, everybody likes salad and it would go good with sandwiches.
We could also make some bakes beans.  It would be like a barbacue/.  Ham
,polish sausage, macaroni salad and baked beans.  That wouild really make for
an interesting afternoon.  That will make sure Mrs. Alberg stays upstairs.

Jane.M.Tholt@enron.com wrote:

> macaroni salad?
>
>     -----Original Message-----
>    From:   John Maliszewski <jmalisz@qwest.com>@ENRON
>    Sent:   Tuesday, November 20, 2001 8:40 AM
>    To:     Tholt, Jane M.
>    Subject:  Re: Thanksgiving
>
>    What time do you think we should start?  Don't forget to make enough
>    double
>    baked potatoes for 2 days.
>
>    Jane.M.Tholt@enron.com wrote:
>
>    > No-really-the menu is not that big of a deal-the most important thing
>    to me
>    > is that we all share Christmas together.  We can eat weinies for all I
>    > care.
>    >
>    >     -----Original Message-----
>    >    From:   John Maliszewski <jmalisz@qwest.com>@ENRON
>    >    Sent:   Monday, November 19, 2001 3:20 PM
>    >    To:     Tholt, Jane M.
>    >    Subject:  Re: Thanksgiving
>    >
>    >    Sounds like you want to make a suggestion.  What is it?
>    >
>    >    Jane.M.Tholt@enron.com wrote:
>    >
>    >    > I'm easy-the menu is fine-you guys can also talk it over at
>    >    Thanksgiving
>    >    >
>    >    >     -----Original Message-----
>    >    >    From:   John Maliszewski <jmalisz@qwest.com>@ENRON
>    >    >    Sent:   Monday, November 19, 2001 2:41 PM
>    >    >    To:     Tholt, Jane M.
>    >    >    Subject:  Re: Thanksgiving
>    >    >
>    >    >    Yes, nothing is set in stone.  I really have not discussed the
>    menu
>    >    with
>    >    >    anybody.  What would you perfer?
>    >    >
>    >    >    Jane.M.Tholt@enron.com wrote:
>    >    >
>    >    >    > does it matter
>    >    >    >
>    >    >    >     -----Original Message-----
>    >    >    >    From:   John Maliszewski <jmalisz@qwest.com>@ENRON
>    >    >    >    Sent:   Monday, November 19, 2001 1:58 PM
>    >    >    >    To:     Tholt, Jane M.
>    >    >    >    Subject:  Re: Thanksgiving
>    >    >    >
>    >    >    >    Thanks-  Do you like my menu for Christmas?
>    >    >    >
>    >    >    >    Jane.M.Tholt@enron.com wrote:
>    >    >    >
>    >    >    >    > will bring you back some cajun chef at Chistmas
>    >    >    >    >
>    >    >    >    >     -----Original Message-----
>    >    >    >    >    From:   John Maliszewski <jmalisz@qwest.com>@ENRON
>    >    >    >    >    Sent:   Monday, November 19, 2001 11:42 AM
>    >    >    >    >    To:     Tholt, Jane M.
>    >    >    >    >    Subject:  Re: Thanksgiving
>    >    >    >    >
>    >    >    >    >    I like to make my own chili.  I load it up with
>    beans,
>    >    Sue
>    >    >    uses
>    >    >    >    pork and
>    >    >    >    >    beans(it's O.K.), but I like the beans mom used to
>    use.
>    >    I
>    >    >    was
>    >    >    >    told I
>    >    >    >    >    needed
>    >    >    >    >    to put a little more kick into my chili, so I
>    figured
>    >    that I
>    >    >    would
>    >    >    >    ask
>    >    >    >    >    the
>    >    >    >    >    best-JOE.
>    >    >    >    >
>    >    >    >    >    Hey, for Christmas, I will provide the Ham and all
>    the
>    >    >    >    >    beer,wine,pop,liquor,
>    >    >    >    >    pie,chips , nuts and bread. I will have Amy make
>    some
>    >    >    barbacued
>    >    >    >    weiners.
>    >    >    >    >    I will
>    >    >    >    >    need you to make double baked potatoes. I will have
>    Jean
>    >    bring
>    >    >    the
>    >    >    >    >    polish
>    >    >    >    >    sausage and corn/greenbeans.  I may get some
>    sourerkraut
>    >    and
>    >    >    >    dumplins
>    >    >    >    >    from
>    >    >    >    >    Stoysich also.  I will tell dad that he can pay for
>    the
>    >    ham.
>    >    >    >    >    I will have Joey bring a relish trey  and some
>    lasagne.(
>    >    I
>    >    >    thought
>    >    >    >    it
>    >    >    >    >    was
>    >    >    >    >    pretty good)
>    >    >    >    >    Do we need anything else? We are all off on that
>    day, so
>    >    we
>    >    >    can
>    >    >    >    start
>    >    >    >    >    the party
>    >    >    >    >    as early as 3P.M. or earlier if you think, my guess
>    is
>    >    that
>    >    >    you
>    >    >    >    will be
>    >    >    >    >    at the
>    >    >    >    >    casino that morning. Please advise.
>    >    >    >    >
>    >    >    >    >    Jane.M.Tholt@enron.com wrote:
>    >    >    >    >
>    >    >    >    >    > since when do you cook-Ithought Sue did everything
>    >    >    >    >    >
>    >    >    >    >    >     -----Original Message-----
>    >    >    >    >    >    From:   "John Maliszewski" <jmalisz@qwest.com>
>    @ENRON
>    >    >    >    >    >    Sent:   Thursday, November 15, 2001 2:14 PM
>    >    >    >    >    >    To:     Tholt, Jane M.
>    >    >    >    >    >    Subject:  Re: Thanksgiving
>    >    >    >    >    >
>    >    >    >    >    >    I need his recipe. We had a chili cookoff and I
>    made
>    >    my
>    >    >    own
>    >    >    >    chili
>    >    >    >    >    and
>    >    >    >    >    >    came in
>    >    >    >    >    >    3rd out of 5 people.  I beat 2 women, but My
>    chili
>    >    was
>    >    >    not
>    >    >    >    spicey
>    >    >    >    >    >    enough.
>    >    >    >    >    >
>    >    >    >    >    >    Jane.M.Tholt@enron.com wrote:
>    >    >    >    >    >
>    >    >    >    >    >    > Cajun Chef-can only get it here.  Too bad.
>    >    >    >    >    >    >
>    >    >    >    >    >    >     -----Original Message-----
>    >    >    >    >    >    >    From:   "John Maliszewski"
>    <jmalisz@qwest.com>
>    >    @ENRON
>    >    >    >    >    >    >    Sent:   Thursday, November 15, 2001 1:33
>    PM
>    >    >    >    >    >    >    To:     Tholt, Jane M.
>    >    >    >    >    >    >    Subject:  Re: Thanksgiving
>    >    >    >    >    >    >
>    >    >    >    >    >    >    You mean the stuff you buy or the gas that
>    >    comes out
>    >    >    of
>    >    >    >    my
>    >    >    >    >    butt
>    >    >    >    >    >    after I
>    >    >    >    >    >    >    make chili.  Speaking of chili, what does
>    Joe
>    >    put in
>    >    >    his
>    >    >    >    to
>    >    >    >    >    spice
>    >    >    >    >    >    it up.
>    >    >    >    >    >    >
>    >    >    >    >    >    >    Jane.M.Tholt@enron.com wrote:
>    >    >    >    >    >    >
>    >    >    >    >    >    >    > All the gas stocks getting hammered.
>    Natural
>    >    gas
>    >    >    is
>    >    >    >    >    bursting at
>    >    >    >    >    >    the
>    >    >    >    >    >    >    seams.
>    >    >    >    >    >    >    > Your bill should go way down
>    >    >    >    >    >    >    >
>    >    >    >    >    >    >    >     -----Original Message-----
>    >    >    >    >    >    >    >    From:   "John Maliszewski"
>    >    <jmalisz@qwest.com>
>    >    >    @ENRON
>    >    >    >    >    >    >    >    Sent:   Thursday, November 15, 2001
>    12:19
>    >    PM
>    >    >    >    >    >    >    >    To:     Tholt, Jane M.
>    >    >    >    >    >    >    >    Subject:  Thanksgiving
>    >    >    >    >    >    >    >
>    >    >    >    >    >    >    >    I ordered the pies for our big
>    >    Thanksgiving day
>    >    >    >    feast at
>    >    >    >    >    >    Jeanies.
>    >    >    >    >    >    >    Wish
>    >    >    >    >    >    >    >    you could be there.  Dad is bringing
>    the
>    >    beer,
>    >    >    he
>    >    >    >    said
>    >    >    >    >    one  12
>    >    >    >    >    >    pack
>    >    >    >    >    >    >    >    would do, I told him to bring a case,
>    just
>    >    in
>    >    >    case
>    >    >    >    >    someone
>    >    >    >    >    >    wants
>    >    >    >    >    >    >    more
>    >    >    >    >    >    >    >    that one can. I know that Joan is not
>    >    coming to
>    >    >    >    dinner.
>    >    >    >    >    >    Should we
>    >    >    >    >    >    >    >    invite her to Christmas or wait for
>    her to
>    >    >    call.
>    >    >    >    If
>    >    >    >    >    you
>    >    >    >    >    >    ever
>    >    >    >    >    >    >    talk to
>    >    >    >    >    >    >    >    her, you may want to mention that her
>    >    father is
>    >    >    >    still
>    >    >    >    >    alive
>    >    >    >    >    >    and
>    >    >    >    >    >    >    lives in
>    >    >    >    >    >    >    >    the same house that she was raised
>    in.  I
>    >    hope
>    >    >    she
>    >    >    >    comes
>    >    >    >    >    for
>    >    >    >    >    >    >    Christmas.
>    >    >    >    >    >    >    >    If she doesn't, I doubt that I will
>    ever
>    >    invite
>    >    >    to
>    >    >    >    >    anything
>    >    >    >    >    >    again.
>    >    >    >    >    >    >    But
>    >    >    >    >    >    >    >    that is that fucking Links "better
>    that
>    >    >    everybody
>    >    >    >    >    >    else"attitude.
>    >    >    >    >    >    >    I
>    >    >    >    >    >    >    >    might just turn that sideways and
>    stick it
>    >    up
>    >    >    his
>    >    >    >    German
>    >    >    >    >    ass.
>    >    >    >    >    >    Hey
>    >    >    >    >    >    >    our
>    >    >    >    >    >    >    >    stock is going up, how bout yours?
>    >    >    >    >    >    >    >
>    >    >    >    >    >    >    >
>    >    >    >    >    >
>    >    >    >    >
>    >    >    >
>    >    >
>    >
>    **********************************************************************
>    >    >    >    >    >    >    > 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.
>    >    >    >    >    >    >    >
>    >    >    >    >    >
>    >    >    >    >
>    >    >    >
>    >    >
>    >
>    **********************************************************************


---------------------- Forwarded by Lisa Shoemake/HOU/ECT on 11/16/2000 04:41
PM ---------------------------

Melissa Rodriguez
11/16/2000 12:37 PM
To: Maria Sandoval/HOU/ECT@ECT, Andrea R Guillen/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Leslie Smith/HOU/ECT@ECT,
Lisa Shoemake/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT, Noemi
Camacho/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jennifer
Cutaia/Corp/Enron@ENRON, Airam Arteaga/HOU/ECT@ECT, Adriana
Celedon/HOU/ECT@ECT
cc:
Subject: Re: Fwd: FW: 8 true friends(p.s. whats up to all my girls/???):)

---------------------- Forwarded by Melissa Rodriguez/HOU/ECT on 11/16/2000
12:13 PM ---------------------------
From: Maria Sandoval on 11/16/2000 10:45 AM
To: Elizabeth_Gutierrez@eott.com @ ENRON, Chantelle Villanueva/HOU/ECT@ECT,
Elizabeth Soto/HOU/ECT@ECT, Andrea R Guillen/HOU/ECT@ECT, Melissa
Rodriguez/HOU/ECT@ECT, Brenda Barreda/HOU/EES@EES, Phenicia
Olivier/HOU/ECT@ECT, Pamela Sonnier/HOU/ECT@ECT, Brenda
Flores-Cuellar/NA/Enron@Enron
cc:
Subject: Re: Fwd: FW: 8 true friends(p.s. whats up to all my girls/???):)

---------------------- Forwarded by Maria Sandoval/HOU/ECT on 11/16/2000
10:43 AM ---------------------------

Elizabeth_Gutierrez@eott.com on 11/16/2000 10:12:20 AM
To: Victoria_G_Martinez@eott.com, llkey@altavista.com,
rebecca_padfield@aimfunds.com, melissa_casas-walker@aimfunds.com,
Rosahernandez@pennzoil.com, Maria.Sandoval@enron.com, yvasquez@bcm.tmc.edu,
krvasquez@yahoo.com
cc:
Subject: Re: Fwd: FW: 8 true friends(p.s. whats up to all my girls/???):)

Elizabeth Ann Gutierrez
Sr. Accounting Clerk
(713) * 993-5515  / Fax (713) * 402-2753
Elizabeth.Gutierrez@EOTT.com

bject: Fwd: 8 true friends
> >
> >
> >
> >
> >> > > Subject: FW: 8 true friends
> >> > >
> >> > >
> >> > >
> >> > >
> >> > > > > 8 true friends
> >> > > > > I'LL JUST TAKE IT AS A HINT IF I DON'T GET
> >> > THIS BACK
> >> > > > > How many people actually have 8 true friends?
> >> > > > > Hardly anyone I know!
> >> > > > > But some of us have All Right friends and Good
> >> > friends!!! You have
> >> > been
> >> > > > > Tagged by the Friendship  Angel
> >> > > > >                             (\0/)
> >> > > > >                              /_\
> >> > > > > Which means you are a great friend!! You will
> >> > Have Good Luck For Two
> >> > > > >Years  if you send this to 8 people or more and
> >> > if this is sent back to
> >> > > you
> >> > > > >then you know that you are a true friend......
> >> > > > >You must send it in 5 minutes or your good luck
> >> > will
> >> > > > >be broken!!
> >> > >
> >> > > > > If this is sent to you it means you are a good
> >> > true friend.
> >> > > > >
> >> > > > >
> >> > > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> > >
> >> >
> >> >
> >>
> >>
> >
> >
> >
>
>
>--------------------------------------------------------------------------
>
>Why is College Club the largest and fastest growing college student site?
>Find out for yourself at http://www.collegeclub.com
>
>

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Tom Martin and Frank Hayden


forgot to tell you....

talked to Jennifer Bagwell yesterday and...she and Christian got engaged on the 28th.  she's very excited and sounded genuinely happy.  just thought i'd fill you in some good news.  and, yes, i do think it's a good thing.

also, i'm sure tori sent you an email...but, yesterday was her last day w/ ENE.  i'm truly thrilled for her too.  i think this is going to be a very good thing.

hasta


Attached is the GE override letter to accompany the facility agreements.

I'm trying to figure out the ABB form.

Kay


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This ticket was revised.  The index was changed.

	Enron Capital & Trade Resources Corp.

	From:  Jeff Harbert                           08/02/99 01:25 PM

To: Dale Neuner/HOU/ECT@ECT, Lucy Ortiz/HOU/ECT@ECT
cc: Steve Kim/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
Subject: Random House Drafts

Attached are draft deal tickets for transactions which could close today,
pending today's negotiations.

Please prepare updated drafts today if at all possible.

Earlier drafts were prepared on June 10, 1999 that were similar to each of
these tickets.

Thanks,

JH.


Ken & Jeff,

We would like to extend an invitation to you for an event at the Guggenheim
Museum in New York, honoring the Frank Gehry Exhibit which Enron is
sponsoring.   Frank Gehry, a celebrated architect whose building appears at
the end of our Ode to Why commercial, personifies innovation in the way he
has "asked why," challenging nearly every convention in his field.

Enron will have a table of 10 at the Trustee Opening Gala Dinner on May 16th,
with cocktails at 7pm and a seated dinner at 8:30pm.  The Gala starts with a
private viewing of the exhibition, followed by a seated dinner for 280 people
in the Rotunda of the museum. Attendees are comprised of Trustees, government
dignitaries, artists, curators and celebrities.

Several business unit executives are using this forum to take potential
customers and we would like to know if you are interested in attending.
Please advise.

Thanks, Steve


Ken,

It has been a pleasure serving on the Diversity Task Force for Enron and
sharing in your vision for all employees.  My membership on the team is being
transferred to someone else within our organization.  I trust that many of
the Diversity Action Steps  will be implemented and accomplished this year.

Thanks again,

Daler


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/23/2000
11:17 AM ---------------------------
Sandra R McNichols   08/21/2000 04:56 PM

To: Geraldine Irvine/HOU/ECT@ECT, Charlene Richmond/HOU/ECT@ECT, Willie
Harrell/HOU/ECT@ECT, Kathleen Speer/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT,
Leslie Smith/HOU/ECT@ECT, Juanita Marchand/HOU/ECT@ECT
cc:
Subject: Biggest Mathematical Miracle in the World

The Biggest Mathematical Miracle in the World!

Moses and his people were in the desert, but
what was he going to do with them?
They had to be fed, and fed is what he did,
according to the Quartermaster General in the
Army.  It is reported that Moses would have to have
had 1500 tons of food each day.

Do you know that to bring that much food each
day, two freight trains, each a mile long,  would be required!
Besides you must remember, they were out in the desert, so they
would have to have firewood to use in cooking the food.
This would take 4000 tons of wood and a few
more  freight trains, each a mile long,  just for one day.

And just think, they were forty years in transit.
And oh yes! They would have to have water. If they
only had enough to drink and wash a few dishes,
it would take 11,000,000 gallons each day, and a
freight train with tank cars, 1800 miles long, just to bring water!

And then another thing! They had to get across
the Red Sea at night. (They did?) Now, if they went on
a narrow path, double file, the line would be 800
miles long and would require 35 days and  nights
to get through. So, there had to be a space in the Red Sea,
3 miles  wide so that they could walk 5000 abreast to get
over in one night.

But then, there is another problem. Each time
they camped at the end of  the day, a campground
two-thirds the size of the state of Rhode Island was
required, or a total of 750 square miles
long...think of  it! This space just for nightly camping.

Do you think Moses figured all this out
before he left Egypt?

I think not!

You see, Moses believed in God.

God took care of these things for him.

Now do you think God has any problem taking
care of all your needs?
I ASKED THE LORD TO BLESS YOU.......
I asked the Lord to bless you As I prayed for you today,
To guide you and protect you As you go along your way....
His love is always with you,
His promises are true,
And when we give Him all our cares,
You know He will see us through.
So when the road you're traveling on
Seems difficult at best,
Just remember I'm here praying
And God will do the rest.

Pass this to at least 10 people you want God to bless, don't
forget to send it back to the one who asked
God to bless you first.
A POSITIVE  ATTITUDE CAUSES A CHAIN REACTION OF
POSITIVE THOUGHTS, EVENTS  AND OUTCOMES!!

"I can do all things through Christ who strengthens me."
              -Philippians 4:13


As far as I know, the Schedule for Nick Bambos is:

9-10  EB19c2 Meet with Paul Racicot and EBS research members

11:00   Leave for lunch at Vincent's
12:30  Return to Enron

1-2  EB46C2 Giuseppe P.  talk on IP pricing.
2-4  EB 43C2 Open Forum discussions with EBS traders

4:14   Nick departs for Hobby


Crude 24X7 WTI Marketing Effort

Trade Count:
 195  Trades
 9.4  Million Barrels
  7  Counterparties Transacting Today
 27 Counterparties Transacting to Date


Jim / Karen - Thank you.

We are not going to pull the trigger to turn back these customers without a
full review and the agreement of all appropriate teams at Enron.

Thanks - Dan

Karen Denne@ENRON
04/13/2001 12:30 PM
To: James D Steffes/NA/Enron@Enron
cc: Jeff Dasovich/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Sandra
McCubbin/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Janel
Guerrero/Corp/Enron@Enron, Mark Palmer/Corp/Enron@ENRON, Susan J
Mara/NA/Enron@ENRON, Peggy Mahoney/HOU/EES@EES, Harry
Kingerski/NA/Enron@Enron, Dan Leff/HOU/EES@EES
Subject: Re: CONFIDENTIAL - Residential in CA

Before any decision is made, I think we really need to weigh in with EES on
the ramifications (both PR and legislative) of turning back 16,000
residential customers.  I strongly believe that the public hit we will take
will be far greater than our actual out-of-pocket losses.  We will be
crucified by the public, media, consumer groups, legislators, governor,
attorney general, etc.,  and this action will reaffirm our reputation of
packing up and leaving when it's not in our interest.  The impact of this
action would be exacerbated since it is on the heels of UC/CSU.

I would also argue that this hurts our national dereg efforts.  If we're
advocating that competition and choice benefits consumers and then we turn
around and pull out of a market and abandon customers when we're not
"profiting," we'll kill any chances we have of ever serving retail customers
in California -- or in any other state.  We look foolish advocating for
direct access when we're not willing to serve our existing -- let alone
future customers

What about a preemptive strike that engages these 16,000 customers to weigh
in on direct access -- i.e. a letter that says "Enron may be forced to cancel
its contract -- call/write/send the enclosed postcard to your legislator and
tell them you want to keep your right to choose your energy service provider."

Our credibility is on the line.  Before we take this action, we need to be
cognizant of all the long-range strategic implications, and we need to
seriously weigh the negative impact this will have on our corporate
reputation, on our legislative abilities and on our commercial success going
forward.

kd

James D Steffes
04/12/2001 09:05 PM
To: Jeff Dasovich/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Sandra
McCubbin/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Janel
Guerrero/Corp/Enron@Enron, Mark Palmer/Corp/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON, Susan J Mara/NA/Enron, Peggy Mahoney/HOU/EES@EES,
Harry Kingerski/NA/Enron@Enron
cc: Dan Leff/HOU/EES@EES

Subject: CONFIDENTIAL - Residential in CA

In the meeting today, no decision was made about what to do with Enron's
16,000 residential customers.   Each of the contracts gives a basic 30 day
out right to Enron.

That being said, I think that we have a short window to push for DA before
any public action impacts us in Sacramento.

I realize that the ultimate action (which I think is inevitable) makes it
harder for our advocacy on DA, but real $ are flowing out of the company.

EES will give us notice when a decision is reached.

Thanks,

Jim


Shirley,

How are we doing on bringibg these people to Houston for an interview?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/11/2000
08:20 AM ---------------------------

Bryan Seyfried
05/10/2000 04:51 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Credit.com CV's

vince thanks for helping out.....we really need more dedicated assistance.
zak is probably more pure research and his son phil would possibly be on the
desk.....let's discuss after you have met them..

Vince J Kaminski
05/08/2000 10:46 PM
To: Rosalinda Resendez/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Bryan
Seyfried/LON/ECT@ECT

Subject: Re: Credit.com CV's

Rosie,

We are making arrangements to bring them to Houston for an
interview.

Vince

Rosalinda Resendez
05/08/2000 11:10 AM
To: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: Credit.com CV's

Vince,
I've been asked to forward these resumes to you.

rosie
---------------------- Forwarded by Rosalinda Resendez/HOU/ECT on 05/08/2000
11:06 AM ---------------------------
LOUISE
BRATBY
05/08/2000 10:11 AM

To: Rosalinda Resendez/HOU/ECT@ECT
cc:
Subject: Credit.com CV's

Rosalinda

I work with Melanie Doyle in London HR.  I have two candidates who I'm trying
to arrange (for Bryan Seyfried) to come in and see Vince Kaminski however I'm
finding it difficult to co-ordinate from this end.  Would it be possible for
you to forward these CV's on to Vince's assistant as I'm not sure who the
correct person is.

Thanks for your help and if you need more details my number is 44 20 7783
6945.

Regards
Louise


Stuart,

I have difficulties opening the attachment.
Please, resend as a  .doc file  or  a   .pdf file.

Vince

"Stuart Russell Hamel" <hamel@ruf.rice.edu> on 04/30/2001 04:52:12 PM
Please respond to <hamel@rice.edu>
To: <vince.j.kaminski@enron.com>
cc: <jason.sokolov@enron.com>
Subject:

Dr. Kaminski:

Please see our attached paper.

Thank you,
Jed Howard, Brian Nelson, and
Stuart Hamel
(713) 218-8903

 - winmail.dat


thanks please remind me if you see i forget.

 -----Original Message-----
From: 	Gonzalez, Esmeralda
Sent:	Thursday, August 02, 2001 11:23 AM
To:	Perlingiere, Debra
Subject:	PG&E matter

I have scheduled you in @ 11:00 a.m.

Esmeralda Gonzalez
Enron North America Corp.
Legal Department
1400 Smith Street, EB3815
Houston, Texas 77002
e-mail: esmeralda.gonzalez@enron.com
Phone: 713-345-7621
Fax: 713-646-3393


We do not need an ACA charge on any of the direct meters.
Please take these off deal #216184.  There are probably more,
but I will send them as they come up.  Thanks, Gloria


Thanks for all of the recent forwarded messages - they have all been mine.
Sorry for not getting back to you sooner but I've been out of town.


Hi Richard,

Will you please look over the attached MPR's and let me know if they look okay?

Thanks,
Mary


Vince,

From the sound of the articles, it appears ENE is ready to exit India, or
alternately to get into an arbitration battle.

I have scheduled some time with you at 10.30 to discuss.

Regards,
Sandeep.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
04/23/2001 07:59 AM ---------------------------

Nikita Varma
04/23/2001 07:20 AM
To: Nikita Varma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  (bcc: Sandeep Kohli/ENRON_DEVELOPMENT)

Subject: From The Enron India Newsdesk - April 23rd newsclips

April 23, 2001, http://www.financialexpress.com/fe20010423/fed3.html
Godbole,s report unearths absurd calculations , Maharashtra could use this to
wriggle out of the Dabhol project
Sucheta Dalal
------------------------------------------------------------------------------
----------------------------------------------------------
April 23, 2001,  http://www.financialexpress.com/fe20010423/news1.html
DPC board set to authorise president, Enron MD to issue notice of
termination, Sanjay Jog
Scrapping of Power Purchase Agreement
------------------------------------------------------------------------------
----------------------------------------------------------
Monday, April 23, 2001,
http://www.business-standard.com/today/corp8.asp?Menu=2
DPC seeks OK to exit power project , Tamal Bandyopadhyay & S Ravindran
------------------------------------------------------------------------------
----------------------------------------------------------

April 23, 2001, http://www.cybernoon.com/index.html
Enron winding up operations in India?
------------------------------------------------------------------------------
----------------------------------------------------------

State for consolidating all DPC arbitration notices, Sanjay Jog
Monday, April 23, 2001, http://www.financialexpress.com/fe20010423/news3.html
------------------------------------------------------------------------------
----------------------------------------------------------

Monday, April 23, 2001, http://www.economictimes.com/today/23econ04.htm
Maharashtra to set up experts panel on Enron

The article also appeared in the following newspaper

BUSINESS STANDARD
April 23, 2001, http://www.business-standard.com/today/state3.asp?Menu=32
Maharashtra to set up expert panel on Enron

------------------------------------------------------------------------------
----------------------------------------------------------
April 23, 2001, http://www.economictimes.com/today/23econ07.htm
 'Enron is a national problem'
------------------------------------------------------------------------------
----------------------------------------------------------
April 23, 2001, http://www.cybernoon.com/index.html
CM takes Enron to Delhi today
------------------------------------------------------------------------------
----------------------------------------------------------
Monday, April 23, 2001,
http://www.outlookindia.com/full.asp?fname=Enron+%28F%29&fodname=20010430&sid=
1

The Real Story Of Dabhol If a judicial probe, suggested by the committee, is
ordered into the Enron deal, it could embarrass three governments    RANJIT
BHUSHAN
------------------------------------------------------------------------------
----------------------------------------------------------

Monday, April 23, 2001,
http://www.business-standard.com/today/state2.asp?Menu=32
MSEB revenue collections up at Rs 968 crore in March , Renni Abraham
------------------------------------------------------------------------------
----------------------------------------------------------
THE FINANCIAL EXPRESS,April 23, 2001
Godbole,s report unearths absurd calculations , Maharashtra could use this to
wriggle out of the Dabhol project , Sucheta Dalal

It is finally Quit India time for Enron. Though the controversial
multinational has denied plans to sell its stake in Dabhol Power Company
(DPC), informed sources say that it has sent feelers to China Light & Power
and others to offload its majority holding.Getting out of India may be the
best course for Enron. Though it has threatened a fight and invoked political
force majeure, the Energy Review Committee headed by Madhav Godbole will
certainly weaken its case. The committee points out that the many
&infirmities8 in the DPC approval process brings into question the &propriety
of the decisions8.

 It is clear that the $20m that Enron spent on educating India,s
policy-makers and bureaucrats did not even teach them the basics of
techno-economic appraisal or due procedure with regard to large international
contracts. The committee says it is &troubled with the failure of governance
that seems to have characterised almost every step of the decision making
process on matters relating to DPC. The failure of governance has been broad,
across different governments at different points of time, at both the state
and the central level, and across different agencies associated with
examining the project and at both the administrative and political levels. It
strains belief to accept that such widespread and consistent failure to
execute assigned responsibilities is purely co-incidental8.

Though the committee decided that it is not the proper forum to investigate
these infirmities, its two key members, Mr Godbole, and former secretary in
the Ministry of Finance, EAS Sarma, have asked for a judicial inquiry into
the process of clearing the DPC project. Other members felt a judicial
inquiry would delay the negotiation process and &not serve any purpose8.
There may be some merit in an argument against a further delay in
renegotiating tariffs or facilitating Enron,s exit, but the report certainly
provides the Central Vigilance Commission (CVC) with all the grounds that it
needs to start an investigation.

CVC N Vittal has already received innumerable requests to investigate the
deal, especially the beneficiaries of its education campaign. Though the
political establishment may be reluctant to set up a judicial inquiry, the
CVC can establish whether there are lapses on the part of &government
functionaries including political executives8 and ensure &appropriate action8
against them. If it is indeed able to establish &undue influence8 in signing
the contract, then Maharashtra may be able to get out of a deal patently
against the public interest without any monetary liability.

The Godbole committee has vindicated the stand of anti-Enron activists who
have been opposed it since negotiations began in 1994. It establishes that
Enron power is expensive per se, and the project needs to be re-negotiated,
regardless of the causes for the Maharashtra State Electricity Board,s (MSEB)
financial distress. Also that DPC,s extortionate tariffs are not merely
because of the steep rise in petro-product prices and rupee depreciation, but
mainly on account of its sweetheart deal with the state government. Enron,s
contract is clearly one-sided; it deliberately uses expensive raw material
(ignoring World Bank warnings), has worked on fanciful demand-supply
estimates and several legal requirements and permissions.

In fact, the committee has found that the MSEB has been paying Enron Rs 930
crore more than it should every year. This comprises overcharging of Rs 253
crore on account of the large regassification plant of which only 42 per cent
of the capacity is used for DPC. There,s also a Rs 100 crore extra billing to
the MSEB for shipping and harbour charges although the cost of these
facilities had been included in the capital recovery charge. By charging more
than twice the operations & maintenance rate stipulated by the government of
India, Enron collects approximately Rs 246 crore extra every year. It has
also been collecting Rs 332 crore every year through inflated fuel
consumption claims. Enron has been charging at 1878 kcal/kwh under the power
purchase agreement (PPA) although the equipment manufacturer has guaranteed
it a much lower consumption rate. This gives it a fat fuel arbitrage
opportunity at the cost of the people of Maharashtra.

The committee has also pointed to the strange practice of using four
different exchange rates for different aspects of the project negotiation: a
rate of Rs 32 per dollar was assumed for calculating debt service of rupee
loans, Rs 34.5 per dollar as reference rate for Phase-I, Rs 39.35 per dollar
as reference rate for Phase-II and a curious Rs 42 per dollar for calculating
Government of India tariff. Forcing a reduction of these excessive charges
has nothing to do with contract cancellation. All it needs is tough
negotiation and public pressure on the political establishment.

The Godbole committee has established that DPC,s tariffs can easily be halved
if excess payments are eliminated and unfair conditions such as the
dollarisation of payments, the take-or-pay clause and escrow facility (which
is in fact hampering MSEB,s reform particularly in power distribution) are
scrapped.The security of future payments to DPC under the restructured tariff
would be based on increased cash flows from a reformed distribution system.
The committee also gives Enron a difficult escape route. It says that if the
multinational finds the conditions for restructuring too onerous, it should
free MSEB from its contractual obligations and find buyers outside
Maharashtra. The committee has tried to establish another precedent on all
projects negotiated by government: &The public has a right to know what is
being contracted on their behalf8 and has recommended that all documents,
including contracts related to all Independent Power Projects (IPPs),
particularly DPC, should be published by the Maharashtra government within
two months.

Also, having established that demand-supply estimates by the state government
were fanciful, the committee has asked MSEB to defer all negotiations with
power producers until demand levels in the state permit full absorption of
power generation from such IPPs. It recommends that such negotiations should
be in accordance with the least-cost plan spelt out by the report. This
should also end the hectic lobbying by Reliance (Patalganga), Mittals
(Bhadravati), the BSES (Saphale) and others to set up IPPs in Maharashtra.
------------------------------------------------------------------------------
----------------------------------------------------------THE FINANCIAL
EXPRESS, April 23, 2001
DPC board set to authorise president, Enron MD to issue notice of
termination, Sanjay Jog
Scrapping of Power Purchase Agreement

The board of directors of Dabhol Power Company (DPC), which has already taken
an aggressive posture, has proposed to authorise the Enron India managing
director K Wade Cline and DPC president and chief executive officer Neil
McGregor to issue notices for the termination of power purchase agreement
(PPA) and transfer of Dabhol project in view of continuing default by the
state and Central governments and Maharashtra State Electricity Board (MSEB).

The board of directors, which would meet on April 25 in London, also plans to
appoint Mr Cline as its &true and lawful Attorney-in-fact8 and authorise him
to represent the company in the negotiation of all project contracts and
financing agreements and their amendments and modifications.Top sources told
The Financial Express that DPC would authorise Mr Cline and/or Mr McGregor to
serve the preliminary termination notices and transfer notices to the state
and Central governments and MSEB under clause 17 and schedule 11 of the PPA.

&In response to the continuing default by the MSEB of its payment obligations
under the PPA, the failure of the Government of Maharashtra to honour
obligations under its guarantee and state support agreement and failure of
the Government of India to honour obligations under its counter guarantee,
the company has sought recourse to dispute resolution and has initiated
conciliation and arbitration proceedings,8 the company resolution said.
&Consistent with this recourse to contractual remedies, the company now seeks
the authority to serve preliminary termination notices and transfer notices
pursuant to clause 17 and schedule 11 of the PPA from time to time and at any
time upon the occurrence of an event giving rise to its right to serve such
notices as determined by the company,8 the resolution added.

According to the resolution, the directors, the company secretary and
officers of the company and each of them acting individually, are authorised
and empowered to execute and deliver such documents and instruments and take
such other actions as they deem fit to effect the purpose of the resolution,
in the name and for and on behalf of the company. Against this backdrop, the
state government and MSEB have been exploring the possibilities of issuing
termination notice to the DPC for its failure to meet the contractual
obligations under the PPA. The state government and MSEB sources said that
such a notice could be served by the MSEB as DPC has not paid the rebate
(penalty) of Rs 409 crore for misdeclaration and default on the availability
of power on January 28 and February 13.

The state government and MSEB, which reviewed its position on Saturday at a
meeting convened by the Chief Minister Vilasrao Deshmukh, are of the view
that they have a strong case and substantial grounds to slap the termination
notice to the DPC. The DPC,s move to appoint Mr K Wade Cline as its &true and
lawful Attorney-in-fact8 deserves importance especially when the state
government proposes to set up a negotiating committee to cut the per unit
cost and gauge the possibility of sale of Dabhol power to the power deficit
states.

Mr Cline would also be authorised to dispose of equipment that is worn out or
obsolete or other equipment or fuel no longer expected to be used in the
ordinary course in amounts exceeding Rs 64 crore or the equivalent in foreign
currency in any financial year. Furthermore, Mr Cline would be in a position
to enter into contracts and take any other actions for purpose relating to
the day-to-day operation of the company,s business or exercise its rights and
discharge its obligations under the project contracts and the financing
agreements
------------------------------------------------------------------------------
----------------------------------------------------------BUSINESS STANDARD,
Monday, April 23, 2001
DPC seeks OK to exit power project , Tamal Bandyopadhyay & S Ravindran

The Enron-promoted Dabhol Power Company (DPC) is seeking the approval of its
25 lenders to pull the plug on the $3 billion power project in Maharashtra
tomorrow (April 23).The meeting has been convened in London at the initiative
of the company. The meeting is crucial as the DPC board is meeting on April
25 in London to discuss the issue of serving a termination notice to the
Maharshtra State Electricity Board (MSEB).

DPC cannot go ahead with this unless it gets the go ahead from the lenders.
While bankers said the lenders, meeting is about the second phase of the
project, which is still under construction, state government officials
clarified that since there is only one PPA covering both phases of the
project, the lenders, decision will be applicable to the existing Phase I
also. The second phase of the project involves 1,444 MW generation capacity,
whereas Phase I of 740 MW is already operational.&According to the loan
agreement, even if only four per cent of the lenders agree to terminate the
contract then DPC can do so,8 highly placed sources in the lenders,
consortium said from London.

This in effect means that only one lender has to agree for DPC to serve a
preliminary termination notice.Following the notice, there is a cooling off
period of six months for both parties (the MSEB and DPC) to find a mutually
acceptable solution, which may take the form of a re-negotiated PPA, sources
added. Sources also said that there are two separate meetings scheduled with
lenders. The Monday meeting will be attended by all the lenders including
multilateral funding agencies like Japanese Exim Bank and OPIC. The second
round of meetings schedule for Tuesday will be only with the global loan
arrangers ANZ Investment Bank, CSFB, ABN -AMRO, Citibank and the State Bank
of India (SBI).Two representatives each from the Indian lenders, IDBI, ICICI
and SBI have already left for London.
------------------------------------------------------------------------------
----------------------------------------------------------
AFTERNOON, April 23, 2001
Enron winding up operations in India?

Marred by controversies since inception, the US-based energy major
Enron-promoted Dabhol Power Company (DPC) board will meet this Wednesday,
April 25, in London to decide the fate of its 2,184 MW project in Dabhol,
including winding up of its operations. "The top most item on the agenda is
to empower DPC Managing Director Neil McGregor to wind up operations in the
country," state government sources told PTI on Saturday. When contacted, DPC
spokesperson declined to comment on the agenda of the London meeting and
added, "I will not like to comment on speculations."

Sources said a team comprising three top officials of Maharashtra State
Electricity Board (MSEB) including chairman Vinay Bansal would attend the
high-profile board meet. Bansal told PTI that MSEB has decided to give a
"fitting reply" and present its case concerning the Rs. 401 crore penalty
that the loss-making board slapped on DPC on February 28, for not generating
required power within the stipulated time as per the Power Purchase Agreement
(PPA).

This London meet comes two days after the international and domestic
financial institutions sit together (April 23) to discuss DPC's future course
of action in the wake of non-payment of dues to the tune of Rs. 223 crore by
MSEB and also to take into account the aforesaid penalty.Over the payment of
dues of December 2000 and January of Rs. 102 crore and Rs. 111 crore
respectively, sources said, both the state government and MSEB had offered to
make a "protest" payment as per the PPA, but DPC, India's first fasttrack
power project, refused to accept on that condition.

Currently, Enron India holds 65 per cent in the US $900 million DPC project,
which includes MSEB's 15 per cent while General Electric and Bechtel hold 10
per cent each. The controversial "now on now off" project began in 1992 but
ran into rough weather after the Shiv Sena-BJP came to power and was scrapped
only to be revived after renegotiating the PPA. Fresh trouble arose in
October last when MSEB began defaulting over the "enormous" billing following
which DPC invoked the state and centre's counter guarantee and also recently
sent three international arbitration notices and invoked the political
"forced majeure" implying inability to conform towards any financial
commitment.

DPC had yesterday stated that it had no plans to reduce its stake below 50
per cent but according to Enron Corp's Chief Executive Officer Jeff Skilling
the company would be interested in talking to potential buyers for its stake.
Skilling, according to an international financial daily, said the
multinational continues to see strong growth in North America, Europe and
Australia indicating a possibility of exiting from India
------------------------------------------------------------------------------
----------------------------------------------------------
THE FINANCIAL EXPRESS, Monday, April 23, 2001
State for consolidating all DPC arbitration notices, Sanjay Jog

The Maharashtra government has decided to appeal to the Centre for
consolidating all arbitration notices served DPC for the &continuous default
of contractual obligations8 and name a common arbitrator for the state
government, the Centre and MSEB.The Maharashtra government team led by the
chief minister Vilasrao Deshmukh, at its meeting with the union finance
minister Yashwant Sinha and union power minister Suresh Prabhu on Monday,
also proposes for the appointment of a non-Indian arbitrator with a view to
cutting the cost substantially.

During arbitration proceedings initiated by the DPC after the repudiation of
Dabhol phase-I by the previous Shiv Sena-BJP government in 1995, a non-Indian
arbitrator, Mr Kumara Swami was appointed as an arbitrator after a suggestion
by a senior counsel Fali Nariman. State government sources told The Financial
Express that it would write a letter to the DPC regarding arbitration
proceedings after Monday,s meetings. The state advocate general Goolam
Wahanwati will be suggesting a suitable arbitrator for the state and central
government and MSEB.

The advocate general will also suggest solicitors and Queens Counsel, who may
be engaged in London for this purpose. Incidentally, Mr Prabhu, who was
present at the &janata darbar8 organised by the Thane branch of Shiv Sena,
told reporters that the Centre would provide necessary assistance to the
Maharashtra government to find a solution to the Dabhol
imbroglio.Furthermore, the state government would formally appeal to the
Centre to nominate its representative on the proposed committee to negotiate
with the DPC in a serious bid to reduce the per unit cost and assess the
possibility of sale of Dabhol power to deficit states. The government has
suggested the names of Housing Finance Development Corporation chairman
Deepak Parekh and former union energy secretary EAS Sarma, who were members
of the Godbole energy review committee.
------------------------------------------------------------------------------
----------------------------------------------------------
THE ECONOMIC TIMES, Monday, April 23, 2001
Maharashtra to set up experts panel on Enron

 IN order to resolve the imbroglio over payment crisis between the
Maharashtra State Electricity Board and US energy major Enron-promoted Dabhol
Power Company, Maharashtra will set up an expert committee for negotiations
even as the multinational is contemplating winding up of its operations in
the country. "We are now going for negotiations and will form an experts
committee in which Maharashtra expects the Centre to participate," chief
minister Vilasrao Deshmukh told reporters after attending a condolence
meeting to pay tributes to late Nasscom president Dewang Mehta here on
Sunday. "All the four parties -- namely the state, Union government, Enron
and MSEB -- should come together for negotiations; otherwise it cannot be a
complete exercise," he added.

Deshmukh and the MSEB team are scheduled to meet Union finance minister
Yashwant Sinha and power minister Suresh Prabhu on Monday in New Delhi to
discuss the stalemate and find a acceptable solution for the same. "I am
meeting Sinha and Prabhu to request them to take an initiative and send
representatives for the negotiations committee," he said. Deshmukh's meeting
with the Centre comes at a crucial stage as DPC's lenders would be meeting in
London, on the same day, to decide upon the future finances of the
controversy marred 2,184-mw project in Dabhol.

Moreover, the DPC board is also scheduled to meet on April 25 in London to
decide the fate of its $900 million project in Dabhol, including winding up
of its operations. The meeting would discuss the topmost item on the agenda,
which was to empower DPC managing director Neil McGregor to wind up
operations in the country. DPC has already slapped one conciliation notice on
the Centre and three arbitration notices on the state government over
non-payment of dues amounting to Rs 213 crore plus interest towards the bills
due for the months of December 2000 and January 2001.

Asked whether the Centre had send any feel over a possible clubbing together
of the arbitration and conciliation processes, Deshmukh replied in the
negative. Deshmukh said MSEB chairman Vinay Bansal along with two senior
officials would attend DPC's board meeting in London. Bansal had said on
Sunday that MSEB would present its case concerning the Rs 401-crore penalty
that the loss-making board slapped on DPC on February 28, for not generating
required power within the stipulated time as per the PPA. Currently, Enron
India holds 65 per cent in the $900-million DPC project, which includes
MSEB's 15 per cent, while General Electric and Bechtel hold 10 per cent each.
(PTI)
------------------------------------------------------------------------------
----------------------------------------------------------THE ECONOMIC TIMES,
April 23, 2001
 'Enron is a national problem'

UNION power minister Suresh Prabhu on Sunday said the Centre would render all
possible help to resolve the Enron crisis faced by Maharashtra which is
"haunting the entire country". Prabhu said he would meet the state chief
minister Vilasrao Deshmukh in New Delhi tomorrow to discuss stalemate over
the payments due to the US energy major-promoted Dhabol Power Company by the
Maharashtra State Electricity Board. Referring to Godbole committee report's
finding that DPC was keen on offering MSEB's 15 per cent stake to the
National Thermal Power Corporation, Prabhu said: "The Centre has not received
any such proposal regarding participation of the central power utility."
(PTI)
------------------------------------------------------------------------------
----------------------------------------------------------AFTERNOON, April
23, 2001
CM takes Enron to Delhi today

Chief Minister Vilasrao Deshmukh will discuss the Enron imbroglio with Union
Finance Minister Yashwant Sinha and Union Power Minister Suresh Prabhu in
Delhi today. He will request the Centre to appoint a representative to the
committee that the state government is setting up to carry on discussions and
negotiations regarding the Dabhol Power Project of the US-based Enron Power
Company. Today, a special meeting of representatives of all those finanicial
institutions which have extended loans to the Dabhol Power Project is also
being held in London. A meeting of its directors will be held on Wednesday to
discuss the fate of the $900 million project which has been under a cloud
ever since its inception.

Yesterday, Mr. Prabhu declared at a 'Janata Darbar' in Thane that the Centre
would extend all help to solve the Enron crisis. This is in the backdrop of
pending bills to the tune of Rs. 213 crore which the state fowarded to the
Centre against payments for the months of December 2000 and January 2001.
Confirming that there was no proposal from the state government to handover
the project to the Centre, Mr. Prabhu said that the situation of the
electricity boards in the country was precarious. The Centre had decided to
assist Maharashtra upto Rs. 250 crore every year to improve customer
services.
------------------------------------------------------------------------------
----------------------------------------------------------OUTLOOK, Monday,
April 23, 2001

The Real Story Of Dabhol If a judicial probe, suggested by the committee, is
ordered into the Enron deal, it could embarrass three governments    RANJIT
BHUSHAN

"The Committee has prima facie found infirmities in several decisions taken
in respect of the Enron project at different points of time by successive
governments and agencies in the Centre and state."
--Energy Review Committee headed by former home secretary Madhav Godbole

This could well be the real Enron story
A five-member high-powered committee headed by Madhav Godbole*and including
former Union economic affairs secretary E.A.S. Sarma, hdfc chairman Deepak
Parekh, teri chairman RajendraPachauri and Maharashtra government official
Vinay Mohan Lal*has recommended a judicial probe into the entire Enron power
project deal saying it signified "the utter failure of governance that seems
to have characterised almost every step of the decision-making process
relating to the Dabhol project". The report, which was submitted to the
Maharashtra government last fortnight and has been acquired by Outlook, is
severely critical of former chief minister Sharad Pawar (with the Congress
then), the 13-day bjp-led Union government which reworked the deal in 1996,
Shiv Sena supremo Balasaheb Thackeray and his government in Maharashtra
headed by Manohar Joshi

"The utter failure of governance seems to have characterised almost every
step of decision-making relating to the Dabhol project." Madhav Godbole
Committee Report

An investigation, if ordered, could embarrass at least these three
governments The report clearly upholds the allegations of money being paid by
Enron to politicians and bureaucrats for clinching the deal. According to the
committee, the deal reveals failure of governance, both at the Centre and
state, and across different agencies. "It strains belief to accept that such
widespread and consistent failure to execute responsibilities is purely
coincidental," the report said, proposing a set of measures to be implemented
if something of the project was to be retrieved. Godbole and Sarma also felt
that the panel should categorically recommend the government of India to
order a judicial inquiry. This was finally adopted by it. Says a Congress
leader: "Enron could well become the biggest political issue in Maharashtra
and put to question liberalisation, particularly in the power sector."

The proposal has already struck panic. Says ncp's Praful Patel: "If the Enron
decision has at all been detrimental, it is because of the haste with which
phase 2 was cleared by the Shiv Sena-bjp government. Now with the state
having already entered into an agreement with Enron, the important thing is
to resolve it amicably. A judicial inquiry will be an eyewash because it's
not an issue of corruption but that of perception."

Pro-market Congressmen privately admit that it was their governments at the
Centre and the state which invited Enron, even though the second phase was
cleared by the bjp-Shiv Sena combine. Says Congress spokesperson Jaipal
Reddy: "Right now we're too involved with the Parliament deadlock  over
Tehelka." Pro-liberalisation Congress MPs also fear that such witch-hunting
could send wrong signals to foreign investors. Non-Congress MPs from
Maharashtra, meanwhile, claim that the Godbole Committee was instituted with
the express purpose of politicising the Enron issue. "I think I know Vilasrao
Deshmukh's gameplan," says an MP from the state. But some MPs like Congress'
Prithviraj Chavan question the cloak of secrecy that's surrounded the deal:
"I've maintained for long that there should be a judicial committee to
examine this8.

The committee report also says that had the Enron project been subjected to a
techno-economic appraisal, as envisaged under provisions of the Electricity
supply Act of 1948 and related legislations, the infirmities could have been
avoided.Since this wasn't done, questions about a concerted effort towards
exercising undue influence at every stage of the project are bound to arise,
the exhaustive 93-page report points out.

"I'd highlight the speed with which the 13-day Vajpayee government cleared
the project minutes before it quit," says Congress MP Prithviraj Chavan.

The Enron project had been held out as an exemplar of the impending
liberalisation in the early '90s and, despite several controversies, is now
an established power project at Dabhol, 150 km south of Mumbai. In July 1992,
Enron signed an MoU with the Maharashtra State Electricity Board (mseb) to
set up a 2,550 MW station as part of the government's 'fast track' projects.

Subsequently, when the Shiv-Sena-bjp came to power in Maharashtra it filed a
writ against the project. This curiously led to renegotiations with Enron.
The committee has quoted a Bombay High Court order on the renegotiated deal.
"Once it (GoM) decided to revive the project, it acted in the very same
manner its predecessors in office had done. It forgot all about competitive
bidding and transparency. The speed with which the negotiating group studied
the project and made its proposal for renegotiatons, which was accepted by
Dabhol, is unprecedented." Says Chavan: "I would particularly like to
highlight the speed with which the 13-day Vajpayee government at Centre
endorsed the renegotiated project minutes before it resigned."

Since the commissioning of the plant in May 1999, the mseb has paid Rs 1,607
crore for the power it has bought from Dabhol. If the same watttage of power
had been bought from Indian-built power plants fired by indigenous coal, the
payment would have been approximately Rs 736 crore. In the first
year-and-a-half of its operation itself, the dpc had drained the Maharashtra
exchequer of nearly Rs 1,000 crore.

The Central Electricity Authority (cea), in fact, pointed out that the Dabhol
plant was not the least costly option. The mseb had other inexpensive
alternatives like the four units of Kaparkheda, but they were in a
preliminary stage. The report notes: "...if the mseb had made efforts to
seriously pursue these projects, they might not have remained in their
preliminary stages". It adds that the members were of the opinion that "the
mseb and the Maharashtra government erred seriously, based on information
available at that time, in proceeding with the dpc as a base-load factor even
when its capacity was reduced." The failure seems to have been compounded by
the laxity of the Union power ministry, finance ministry and the cea. It
quotes the cea as saying that since the Union finance ministry found the
tariff reasonable, no further examination was required

Strangely, Bal Thackeray's Shiv Sena, when it came to power together with the
BJP in Maharashtra, filed a writ in the court and then renegotiated the deal.

After the new Shiv Sena-bjp government took over, its CM, Manohar Joshi,
appointed a renegotiating committee in 1996 which made the right noises,
actually managing to reduce the tariff. But certain things remained
inexplicable. No fresh clearances were required from the cea, which also said
that "since no cost increase was involved...fresh formal clearance wasn't
necessary." Says the committee: "This only adds strength to the suspicion
that the cea didn't consider the economic aspects of the project at all.
Indeed, given the non-availability of any official record of the meeting on
June 24, 1994, with the Committee and the nature of this letter dated
December 23, 1994, the Committee is doubtful whether the economic aspects of
dpc were discussed at all.''

The credibility of the Shiv Sena-bjp government has been seriously
questioned. "The Committee finds it unexplicable (sic) why there was no
mention of any reduction in capital cost of the project from $2,828 million
to $2,501 million as agreed by dpc in the summary report of the renegotiating
committee," the panel observes.Says lawyer Prashant Bhushan: "It is strange
that the Shiv Sena-bjp government first filed a writ in the court and then
coolly renegotiated the deal." The committee further spells out the losses
incurred through the deal. "Subsequent to the commissioning of the dpc, the
financial deterioration of mseb has been rapid. While the mseb was in profit
in 1998-99, it plunged into huge losses of Rs 1681 crore in 1999-2000."

Significantly, the World Bank in 1993 had predicted the system's inherent
weaknesses. In a letter written to the then power secretary, R. Vasudevan, a
top bank official had said that "after a detailed review of the analytical
framework and costing assumptions, we reconfirm our earlier conclusion that
the Dabhol project, as presently formulated, is not economically justified"
and that in "our assessment the project is too large to enter the mseb system
in 1998. The proposed base-load operation could result in uneconomic plant
dispatch, as already existing lower variable cost coal power would be
replaced by the higher cost lng power."

Enron's persistence and the 'gullibility' of the Indian side can be gauged
from high-ranking Enron official Joe Sutton's letter to a key Indian
official, Ajit Nimbalkar: "I recently met with the World Bank and have been
following the articles in the India papers. I feel that the World Bank
opinion can be changed. We'll engage a PR firm and hopefully manage the media
from here on. The project has solid support from all other agencies in
Washington."

The key question in the Enron deal is whether a developed state like
Maharashtra needs outside intervention in the power sector at all? For the
first time the Godbole committee has raised objections about the viability of
such a project. According to the report, the mseb has been one of the better
performing boards in the country and has, despite a faulty transmission and
distribution (T and D) system, managed to consistently earn net revenue
surpluses on an accrual basis.

Maharashtra accounts for nearly one-fourth of the gross value of India's
industrial sector. It's one of the few states to achieve 100 per cent
electrification. Since '95, the mseb has been adding to its generation. "This
improvement, which has been largely due to renovation and modernisation
undertaken by the mseb, exceeded its own expectations at a time when the dpc
was being considered," the report points out. Following a policy of
cross-subsidy, roughly nine out of its ten users are subsidised.

But the gap between the average cost of supply and average realisation hasn't
been much. In fact, the subsidy claim decreased from Rs 630 crore in 1995-96
to Rs 355 crore in 1998-99, until in 1999-2000 it increased nearly five-fold
to Rs 2,084 crore due to the sudden increase in the gap by 26 paise per unit*
from 15 to 41 paise*an increase of 173 per cent. "The increase in the subsidy
claim by Rs 1,729 crore is due to the increase in the gap principally because
of the increase in power purchase costs," says the committee, adding:
"Without the dpc and without problems of T and D loss, the mseb could be
financially healthy."

But can that happen now since Enron is here to stay? The committee has come
up with some far-reaching recommendations: make public all Dabhol-related
documents and agreements, restructure the Dabhol project itself to bring down
the cost of power, restructure dpc financially, allow sale of dpc power
outside Maharashtra, re-examine ppas in accordance with least-cost plans, and
thoroughly reform the mseb.The committee know this can become reality only
with political consensus and through forming of public opinion. The question
is, can that be achieved in an unstable political environment?

With Priya Sahgal

Making Of A Scam

? 1992: Centre invites Enron to set up 'fast track' power project
? Dec 1993: First PPA signed with MSEB
? 1994: Enron starts construction
? 1995: Sena-BJP govt scraps Enron
? 1996: State govt renegotiates project
? 1996: 13-day Vajpayee govt approves counter-guarantee
? May 1996: State cabinet clears PPA
? May 13, 1999: Phase I commissioned
? Jul 1999: Financial closure for Phase II
? Oct 2000: MSEB defaults on payment, subsequently stops paying monthly bills
? Feb 6, 2001: Enron invokes Central government's counter-guarantee
------------------------------------------------------------------------------
----------------------------------------------------------BUSINESS STANDARD,
Monday, April 23, 2001
MSEB revenue collections up at Rs 968 crore in March , Renni Abraham

The Maharashtra State Electricity Board's (MSEB) revenue collections in March
2001 stood at a record Rs 968 crore. This was largely due to the
disconnection drive on defaulter connections -- pegged at nearly 20,000
disconnections a month -- which resulted in compliance by consumers. With the
Dabhol Power Company (DPC) monthly financial burden issue now a topic of
discussion among arbitrators on the negotiating table, the MSEB has turned to
putting its house in order.

As if to ward of any criticism of its fiscal condition that could be termed
as the facilitator to the entire DPC tariff crisis, the state electricity
board has put matters relating to its performance on record. For instance,
MSEB has recorded the highest power generation in the year ended March 31,
2001, at 45930 units, compared with the previous year's 45582 units, making
it the top SEB of the country in this respect. Similarly its power stations
recorded the highest availability percentage at 86.1 up from 84.6 per cent
last fiscal. Plant load factor is up to 72.78 per cent, compared with 71.7
per cent in 2000.

The Parli power station has recorded the highest ever generation in the ten
years of its life time in 2000 at 4545 million units, which made it eligible
for the meritorious productivity award under the eligibility guidelines
issued by the Government of India carrying a cash award of Rs 12.5 lakh. All
other power stations in the state, without exception, also fulfill the
eligibility criteria for the cash award, a senior MSEB official said.
Similarly, the Chandrapur power station became the first power station of any
state electricity board to get the ISO 9002 certification.

A senior MSEB official said: "Earlier MSEB was suffering from too much
interference in its day to day functioning. The agriculturists were touted as
the major reason for its deteriorating accruals, while theft of electricity
during the transmission and distribution stage was conveniently camouflaged
under this head. In the recent past, the government has authorised MSEB to
take steps to curb this misuse of power by its own officials, many of whom,
including a chief engineer have suffered suspensions


TASK ASSIGNMENT

Status:		completed

Task Priority:
Task Due On:
Task Start Date:	8/25/1998


Hi there,

Could one of you send me one email with the final (well, we hope) forms of
both of the two change orders we are working on for the BD turbine sets? I
want to make sure I'm looking at the right stuff.

Thanks,

Kay