Greetings Senator:

I'm informed that Mr. Lay is currently out of the country and that your
message has been forwarded to him.

In the meantime, I am attaching a document that Ken Lay distributed to
business leaders at meetings in Silicon Valley and Los Angeles about 2 weeks
ago.  It is the document referenced in the Dow Jones wire story and does
include the Company's view that a core/noncore market structure is the right
answer for California (though the document has not been shared with Speaker
Hertzberg).

Mr. Lay discussed the core/noncore proposal extensively during his trip to
Sacramento several weeks ago when, as you recall, he visited Sacramento and
met with a variety of legislators from both sides of the aisle to discuss
solutions to California's electricity crisis.

But unlike the Speaker's core/noncore proposal that I read about in today's
San Francisco Chronicle, Enron's the proposal does not shift all of Edison's
past due amounts from small consumers to California businesses. The Company
believes that all customers should be responsible for the costs that have
been incurred on their behalf.

I will be in Sacramento on Monday, June 4th and would like to discuss our
proposal with you further if you would find it useful and if your schedule
permits.  I'm also available to discuss the proposal further by phone if you
would like to talk before Monday.

If there's anything else I can do, or if you have any questions, don't
hesitate to contact me at 415.782.7822.

Best,
Jeff Dasovich


Julie,

Yes,  this is how we split this expense internally.
Please, send it to me.

Vince

"Julie" <julie@lacima.co.uk> on 10/31/2000 01:57:55 AM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: Re: Check

Vince,
?
Oh.? I sent an invoice to Habiba for AUS 5K a while back, and she  informed
me that she passed it along to the people who are handling the  agreement now
(I take that as Fiona Grant in London?).? I will then send  out another
invoice of AUS 5K in the next week or so for the remaining  balance.? Should
I have sent the invoice to you?
?
Thanks,
Julie
----- Original Message -----
From:  Vince.J.Kaminski@enron.com
To: julie@lacima.co.uk
Cc: Vince.J.Kaminski@enron.com
Sent: Monday, October 30, 2000 9:12  PM
Subject: Re: Check

Julie,

A clarification. We had an agreement with  Chris and Les to contribute? AUS
10,000
as a part of the  cost.

Vince

"Julie" <julie@lacima.co.uk> on 10/30/2000  12:32:14 PM

To:?? <Vince.J.Kaminski@enron.com>
cc:
Subject:?  Re: Check

Vince,

Thank you for your email.

We  will send you a copy of the book as soon as it is available, which we
are  now estimating to be around 21 November (no need to send us a cheque;
you  deserve it).

Just let us know if we should use a different address than  your office? in
Houston.

Thanks again for all of your  help.

Julie

----- Original Message -----
From:? Vince.J.Kaminski@enron.com
To:  julie@lacima.co.uk
Cc: Vince.J.Kaminski@enron.com
Sent:  Monday, October 30, 2000 2:16? PM
Subject:  Check

Julie,

This message was returned to me a few times  when? I sent it from my  home
address.

Vince

----------------------? Forwarded by  Vince J Kaminski/HOU/ECT on 10/30/2000
08:00 AM?  ---------------------------

VKaminski@aol.com on 10/28/2000  12:12:57? PM

To: julie@lacima.co.uk
cc: VKaminski@aol.com, vkamins@enron.com
Subject: ?  Check

Julie,

As the book is about to be released to  the? market, I would like to start
the
process to issue the check  to Lacima.? Who will be the payee (Lacima) and
what
is the?  address?

Vince


GT,  I will be taking Friday off.  Probably drive in Friday morning or early
afternoon.  What are your plans that day?  If you need any help setting up or
anything let me know.

G$

	Enron Capital & Trade Resources Corp.

	From:  "Townsend, George" <gtownsend@manorisd.net>
08/10/99 02:21 PM

To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: RE:

g,

The boat leaves at 6:00 pm from Carlos and Charlies. It would help if you
took a  day of vacation. We are going to have a blast. Check at work and let
me know what your plans are.

GT

> -----Original Message-----
> From: Gerald Nemec [SMTP:gnemec@ect.enron.com]
> Sent: Tuesday, August 10, 1999 12:40 PM
> To: Townsend, George
> Subject: RE:
>
>
>
> GT,  The theme of the party sounds excellent.  What time is the party on
> Friday
> and where does the boat leave?  I may take a day of vacation.  I have more
> than
> I can probably use this year.
>
> G$
>
>
>
>
>  (Embedded     Enron Capital & Trade Resources Corp.
>  image moved
>  to file:      From:  "Townsend, George"
>  pic21220.pcx) <gtownsend@manorisd.net>
>                08/09/99 04:37 PM
>
>
>
>
>
>
> To:   Gerald Nemec/HOU/ECT@ECT
> cc:
> Subject:  RE:
>
>
>
> Gerald,
>
> How are you brother? I'm doing fine. School is starting this Thursday so I
> am working my ass off. Kind of anyway. (You know us state employees) I
> look
> forward to Tailgate number 1. You are welcome to stay with me. Also, I am
> having a huge party on a double deck boat. The name of the party is "No Le
> Hace 99." That means "it doesn't matter" in spanish. (slang version means
> who gives a f___.)The date is September 3rd which is a Friday. See If you
> and Lisa can make it. You are welcome to stay at my house.
>
> Talk to you later and Hook em Horns
> GT
>
> > -----Original Message-----
> > From:   Gerald Nemec [SMTP:gnemec@ect.enron.com]
> > Sent:   Monday, August 09, 1999 11:39 AM
> > To:     gtownsend@manorisd.net
> > Subject:
> >
> >
> >
> > G,  How is it going?  Been a while since we spoke.  What have you been
> up
> > to?
> >
> > As for me, just a lot of work and little vacation worked in there.
> > Nothing real
> > exciting.  Finally finished the redo of that damn kitchen.  I don't
> think
> > I will
> > be undertaking any home repair projects on my own anytime soon.
> >
> > I am having Austin withdrawals and need to get back real soon.  It won't
> > be long
> > now though for football.  Sounds like Redding and Sims look pretty good
> in
> > practices so far.  That first game makes me nervous.  NC State is a
> pretty
> > good
> > passing team and we may have freshman cornerbacks starting.
> >
> > Now for the real subject.  Tailgating.  How is it shaping up this year?
> > Same
> > place, cold beer, good food.  I am definitely coming in for the NC State
> > game.
> > Lisa may or may not be with me.  Don't know yet.  Anyway I will be glad
> to
> > contribute to the cause.
> >
> > Drop me a note when you get a chance and fill me in.
> >
>
>  << File: pic21220.pcx >>


We should intervene based on our potential interest in serving customers pursuant to AB661(short answer=Paul's language).  It is possible that we may want to reduce revenue requirements by recommending the use of financial products to minimize utility revenue risk. We have intervened in the AB 661 regulation proceeding as Enron Energy Services, Inc. and Enron Power Marketing, Inc. If you think we can raise issues outside of "unbundling" we should limit our intervention to EES and EPMI.

 -----Original Message-----
From: 	"Bonnie Drinkwater" <bdrinkwater@Mcdonaldcarano.com>@ENRON
Sent:	Tuesday, October 23, 2001 11:58 AM
To:	Keene, Patrick; Kaufman, Paul
Cc:	Steffes, James D.
Subject:	RE: Intervention into Nevada Power rate cases

Pat,

Shall I use the language proposed by Paul or would you like me to say
something different?  Please let me know ASAP as I would like to get the
petition filed today.  Thanks.

Bonnie

-----Original Message-----
From: Keene, Patrick [mailto:Patrick.Keene@ENRON.com]
Sent: Tuesday, October 23, 2001 8:55 AM
To: Kaufman, Paul; Bonnie Drinkwater
Cc: Steffes, James D.
Subject: RE: Intervention into Nevada Power rate cases

We have intervened in certain cases where we may have an ongoing
commercial interest to require "rate unbundling" in anticipation of
direct access.  We also can intervene on behalf of EWS who may provide
risk mgt. products to reduce utility rates (i.e., weather derivitives to
stabilize rates and reduce utility-reated risk).  In this case we are
there to make sure rates are properly unbundled to facilitate AB 661.

-----Original Message-----
From: Kaufman, Paul
Sent: Monday, October 22, 2001 7:57 PM
To: 'Bonnie Drinkwater'
Cc: Keene, Patrick; Steffes, James D.
Subject: RE: Intervention into Nevada Power rate cases

By this e-mail, I'm forwarding this to Pat Keene.  He will be your main
contact on Nevada matters for a while.  I'm swamped processing the
filings for the sale of PGE.  My view is that it should be both ENA and
EES.  Our interest is:  (1) we are a potential new electric resource
under AB 661; and (2) these cases will influence whether we can serve
customers under the statute as the unbundled costs incurred by our
potential customers will be determined in this case.

Pat:  What do we say in other states where we intervene and there is no
direct access?  I'd rather not say that we that we are representing the
interests of several large consumers in Nevada.  It opens our deals up
for discovery.

-----Original Message-----
From: Bonnie Drinkwater [mailto:bdrinkwater@Mcdonaldcarano.com]
Sent: Monday, October 22, 2001 5:23 PM
To: Kaufman, Paul
Subject: Intervention into Nevada Power rate cases

Paul,

As I was preparing the petition to intervene, it occurred to me that
information has changed.  Do you want the petition to reflect both ENRON
ENERGY SERVICES, INC. and ENRON NORTH AMERICA.  Also, since you do not
own LV Cogen anymore, what would you like me to put as the reasons for
intervention for these entities.  I have attached a draft petition.  It
needs to be filed on Wednesday.

Thanks for your assistance.

Bonnie

**********************************************************************
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.
**********************************************************************


As luck would have, I have to leave town this week. I need to cancel this
class.

Thanks,

Kay

Ernie
07/12/2000 09:23 AM
Sent by: Stacey Dempsey
To: Kay Mann/Corp/Enron@CORP
cc:

Subject: Development Center Class Reminder  - Fundamentals of Corporate
Finance

You are scheduled to attend:

Fundamentals of Corporate Finance
Class Days and Times:
  7/20/2000  08:00:00 AM - 05:00:00 PM
  7/21/2000  08:00:00 AM - 12:00:00 PM
Room # & Location: EB552,  Houston
Participant Fee: $ 700
Note: Please bring a laptop and a financial calculator with you to class.

If you are unable to attend this class, the registration must be canceled by
5:00 p.m. on  July 17, 2000 to prevent a charge of $ 700 to your RC number.

 We look forward to seeing you at 08:00:00 AM on July 20 - 21, 2000.  Please
call the Development Center Team at 713-853-0357 if you have any questions.

 Thank you.


Reservation status has changed. Details of the reservation are listed below:
ASSIGNMENT_REF = 30097
SELLER_CODE = AZPS
SELLER_DUNS = 958982563
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/AZPS/AZPS-AZPS/FOURCORNE345 - PNPKAPS230//
POINT_OF_RECEIPT = FOURCORNE345
POINT_OF_DELIVERY = PNPKAPS230
SOURCE = FOURCORNERS
SINK = PNPK
CAPACITY = 0
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = OFF_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = WHEEL
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 04/17/2002
STOP_TIME = 04/18/2002
CEILING_PRICE = 1.95
OFFER_PRICE = 1.95
BID_PRICE = 1.95
PRICE_UNITS = $/mW
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = RECEIVED
STATUS_NOTIFICATION = lisa.gang@enron.com
STATUS_COMMENTS =
TIME_QUEUED = 04/15/2002

TIME_OF_LAST_UPDATE = 04/15/2002
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = call (503)464-5070 if problems
SELLER_NAME = AZPS
SELLER_PHONE = 602.250.1128
SELLER_FAX = 602.250.1155
SELLER_EMAIL = oasisadm@apsc.com
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = bill.rust@enron.com
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0


FYI.  Appears that the Davis administration has thrown down the gauntlet,
looking to position itself in a way that will allow it to blame the FERC/Bush
administration for California's electricity crisis, unless FERC agrees to the
ISO's price cap plan.

Best,
Jeff

----- Forwarded by Jeff Dasovich/NA/Enron on 03/08/2001 10:41 AM -----

	"Katie Kaplan" <kaplan@iepa.com>
	03/08/2001 10:44 AM

		 To: "'Alex Sugaoka (E-mail)'" <alex.sugaoka@uaecorp.com>, "'Bill Carlson
(E-mail)'" <william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Gates (E-mail)'"
<bob.gates@enron.com>, "'Carolyn A Baker (E-mail)'"
<cabaker@duke-energy.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'David Parquet'"
<david.parquet@enron.com>, "'Dean Gosselin (E-mail)'"
<dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Douglas Kerner (E-mail)'" <dkk@eslawfirm.com>,
"'Duane Nelsen (E-mail)'" <dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'"
<ed.tomeo@uaecorp.com>, "'Eileen Koch (E-mail)'" <eileenk@calpine.com>,
"'Eric Eisenman (E-mail)'" <eric.eisenman@gen.pge.com>, "'Frank DeRosa
(E-mail)'" <frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<frazier_blaylock@ogden-energy.com>, "'Greg Blue (E-mail)'"
<gtbl@dynegy.com>, "'Hap Boyd (E-mail)'" <Hap_Boyd@enron.com>, "'Hawks Jack
(E-mail)'" <jack.hawks@gen.pge.com>, "'Jack Pigott (E-mail)'"
<jackp@calpine.com>, "'Jim Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe
Greco (E-mail)'" <jgreco@caithnessenergy.com>, "'Joe Ronan (E-mail)'"
<joer@calpine.com>, "'John Stout (E-mail)'" <john_h_stout@reliantenergy.com>,
"'Jonathan Weisgall (E-mail)'" <jweisgall@aol.com>, "'Kate Castillo
(E-mail)'" <CCastillo@riobravo-gm.com>, "'Kelly Lloyd (E-mail)'"
<kellyl@enxco.com>, "'Ken Hoffman (E-mail)'" <khoffman@caithnessenergy.com>,
"'Kent Fickett (E-mail)'" <kfickett@usgen.com>, "'Kent Palmerton'"
<kent.palmerton@williams.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)"
<rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'"
<roger.pelote@williams.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Stephanie Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Steve
Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Susan J Mara (E-mail)'" <smara@enron.com>, "'Tony
Wetzel (E-mail)'" <twetzel@thermoecotek.com>, "'William Hall (E-mail)'"
<wfhall2@duke-energy.com>
		 cc: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'"
<andybrwn@earthlink.net>, "'Bob Weisenmiller (E-mail)'" <rbw@mrwassoc.com>,
"'Jan Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jean Munoz (E-mail)'"
<jmunoz@mcnallytemple.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, "'John Larrea (E-mail)'"
<john.g.larrea@williams.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'Katie
Kaplan (E-mail)'" <kaplan@iepa.com>, "'Kristin Vellandi (E-mail)'"
<kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>,
"Marie Moretti (E-mail 2)" <mmoretti@mccabeandcompany.net>, "'Marty Wilson
(E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Richard Hyde (E-mail)'"
<rwhyde@duke-energy.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom
Ross (E-mail)'" <tross@mcnallytemple.com>
		 Subject: FW: CAISO Notice - Draft Market Stabilization Plan

Greetings:
Late last night the ISO released a Market Stabilization plan that would
essentially impose cost based pricing control caps and apply a strict
California First Policy.

Here's ISO's 3-page sketch to impose cost-based pricing intended to control
costs on consumers on very short order.  Unit-specific cost-based bid caps
will apply to ISO markets.  ISO will have dispatch control over all CA
generation.  Capital costs and return appear to be excluded from the bid
caps.  ISO will pick of the day-ahead and day-of energy markets lot to the
demise of CalPX, thus ending the "market separation."  There appears to be
language that intimates direct unit dispatch, but the document is very thin
on this. ISO proposes payments based either on the "as-bid" up to unit bid
cap, or apparently a uniform market-clearing price based on marginal units
cap.  Out of state resources are paid California capped rates.  Settlement
will be on numbers other than those posted (so much for transparency).
There's looking to procure AS based on optimization, although this is not
spelled out well (it appears that self-provision is gummed up completely).

To prevent "MW Laundering" CA will required in-area generation to make all
capacity
available whenever Stage 1 or higher emergency (i.e., reserves below 7%).
This California
First! rule means the generation must be scheduled against CA loads or bid
into day-ahead
market.  If you don't bid your bid cap is applied.  There will be a capacity
element
similar to RMR.  This change will require FERC buy-in, which obviously will
be
litigation-central, and its likely to create a cascade of similar
requirements from other
states ...

Thanks Andy for the quick summary!

IEP will monitor the Friday call and review all documents to let people know
what is happening.

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499

-----Original Message-----
From: Woertz, Byron [mailto:BWoertz@caiso.com]
Sent: Wednesday, March 07, 2001 6:40 PM
To: ISO Market Participants
Subject: CAISO Notice - Draft Market Stabilization Plan

                ISO Market Participants:
                Attached is the ISO's draft market stabilization plan.  This
document will be the basis of our conference call on Friday, March 9th at
10:00.
                 <<Market Stabilization Draft 010307.doc>>
                Byron B. Woertz, Jr.
                Director, Client Relations
                (916) 608-7066

 - Market Stabilization Draft 010307.doc


======================================================
VENTUREWIRE --- Friday, October 13, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Urbanfetch Shuts Down B2C Service After Failed Kozmo Talks
o Scour, Embattled File-Sharing Service, Files For Chapter 11
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o Recommendation Platform Company TripleHop Gets Early Funds
o Workforce Portal eLabor.com Gets $40 Million Second Round
o Data Services Marketplace Bandwidth Place Raises Round One
o Digital Distribution Firm AudioSonix Gets $250,000 Seed
o Engineering Software Firm Numetrics Raises $1.2 Million
o ASP Delivery Managment Service Raises $20 Million Series B
o Home Networking Tech Creator Sage Closes $2 Million Series B
o Maritime ASP ShipServ Gets $5 Million in Second Round
o Automated Power Exchange Closes Third Round with $36 Million
o Disease Surveillance Tech Firm MRL Raises $25 Million
o Wireless Technology Firm VoxSurf Receives $5 Million
o Customer Relationship Management Service Raises $3.9 Million
o S3 Invests $12.5 Million in Youth-Focused Tech Firm KB Gear
o Asian Discount Brokerage Boom.com Secures $8.6 Million
o Ampal-American Invests $1.6 Million in Troubleshooter MuTek
o ESCO Capital Invests in Streaming Media Firm Nomad
o Online Investment Firm AccessBroker.com Gets Funding

New Products:
o Eastern Europe Auction Site Vatera Launches with eQuest Seed
o Wireless App Firm Pervasic Launches Pan-European Service
o U.S. Creative Changes Name to Ci2i, Expands Services
o Telecommunications Firm Unified Office Changes Name to Caleo
o ClothingAmerica Launches, Provides Donations to Charity

M&A:
o Dating Service MatchNet Acquires Messaging Firm doYOU2.com
o Bruce McGaw Graphics Buys Online Art Seller Artinside.com
o CarParts.com Acquires Software Firm CR Computing Solutions
o Law.com Buys Document Collaboration Site DocumentForum.com
o Securities Firm Siebert Acquires Women's Financial Network
o Writing Site eNovel.com to Buy AOL-Linked Novel Products

New Directors:
o PrecisionMatters Taps Ex-Precision Partners CEO for Board

New People:
o B2B Communications Firm Planet Exchange Names New CEO
o E-Commerce Site eScout Names Former Unbound COO as President
o Transport Management Firm DriverNet Appoints CEO and COO

VC Fund News:
o Bayerische Landesbank Founds New $89 Million VC Fund

VW Corrections:
o Cardinal Venture Capital
o Kamoon

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======= Top Stories =======

o Urbanfetch Shuts Down B2C Service After Failed Kozmo Talks

NEW YORK -- Urbanfetch.com will discontinue its
consumer delivery service following the failure
of merger talks with Kozmo.com. The company, which
had operations in New York and London, will focus
on its business courier service Urbanfetch Express
in New York. Urbanfetch CEO, Ross Stevens, said
in a statement that "Urbanfetch Express is... now,
in fact, more profitable and larger than our combined
New York and London B2C operations." Mr. Ross also
said that the company "would not rule out the possibility
of re-entering the B2C market if conditions change."
Both Urbanfetch and rival Kozmo have had signifcant
layoffs in recent months, and in August Kozmo.com
pulled its intended IPO. Urbanfetch is backed by
VantagePoint Venture Partners.
http://www.kozmo.com/
http://www.urbanfetch.com/
_____________________________________________

o Scour, Embattled File-Sharing Service, Files For Chapter 11

LOS ANGELES -- Scour, which provides a digital entertainment
search engine and file-sharing service through its
Web site, said it filed for reorganization under
Chapter 11. The company said it took the measure
to review and develop recapitalization and restructuring
plans to reposition itself. Scour, which laid off
52 employees last month, has been embroiled in a
legal battle with the Motion Picture Association
of America, the Recording Industry Association of
America, and the National Music Publishers Association
over issues of copyright infringement. Dan Rodrigues,
president of Scour, said that during the Chapter
11 process, which stays all pending litigation against
the company, all of Scour's products will continue
to be available. Scour is backed by the Yucaipa
Companies and Michael Ovitz, the founder of Creative
Artists Agency.
http://www.scour.com/
_____________________________________________

o Online News Software Providers IFN and EntryPoint Merge

NEW YORK -- Internet Financial Network (IFN), which
provides free downloadable software for customized
news information, said it merged with its competitor
EntryPoint to form a newly created entity called
Infogate. IFN previously used the Infogate-name
for its business, financial, and breaking-news Web
site. In the combined company, IFN chairman and
CEO Clifford T. Boro will serve as executive chairman,
EntryPoint president and CEO Francis Costello will
serve as CEO, and IFN president and COO Thomas Pace
will be president. Entrypoint, which acquired the
pioneering push technology developer Pointcast last
year, is backed by idealab!, Citigroup, The Trump
Group, Intel Capital and Eastpeak Partners, and
Moore Capital. IFN is funded by CitiGroup's Travelers
Insurance Co., Data Broadcasting Corp., and The
Trump Group.
http://www.infogate.com/
_____________________________________________

o KLA-Tencor Launches $50 Million Early-Stage Electronics Fund

SAN JOSE, Calif. -- Publicly traded KLA-Tencor,
which provides products and services to semiconductor
manufacturers, said it has created KT Venture Group,
a $50 million venture fund which will invest in
early-stage startup companies in the electronics
industry. The company said the fund will target
the industries that complement KLA-Tencor's line
of products and services, including the semiconductor,
wafer manufacturing, and data storage markets.
http://www.kla-tencor.com/
_____________________________________________

o In Strategy Shift, Desktop.com Cuts Back On Employees

ATLANTA -- Desktop.com, which provides a Web-based
service that enables users to create the equivalent
of a cutomized computer desktop on the Internet
that integrates sites, services, and applications,
said it is reducing its staff. The company would
not disclose how many of its employees will lose
their jobs, but said it currently has more than
80 employees. Desktop.com said the lay-offs are
a result of the company's changed focus from the
consumer to the business market. The new direction,
the company said, requires different resource and
personnel allocation. Desktop.com has raised $29
million from Accel Partners, Kohlberg Kravis Roberts,
and Sequoia Capital.
http://www.desktop.com/
_____________________________________________

o Overstock.com Buys Gear.com, Miadora and Jewelry.com Assets

SALT LAKE CITY -- Overstock.com, a company that
acquires excess inventory and liquidates it through
the Internet, said it has acquired ailing sporting
goods retailer Gear.com, and the assets of the recently
shut-down online jewelry retailer Miadora.com. Miadora.com
announced that it was ceasing operations last month.
Gear.com has been struggling, losing its president
and laying off employees. Overstock.com did not
disclose how much it was acquiring Gear.com for,
but put the Miadora.com deal at over $2.5 million.
Inventories of Miadora.com, as well as Jewelry.com,
which Miadora acquired earlier this year, are being
relocated to Overstock.com's warehouse in Salt Lake
City and will be available on its Web site by November
1. Miadora was funded by Freeman Spogli, Aesop Capital,
Capital Research and Management, HarbourVest, Oracle
Venture Fund, Pivotal Partners, and Sequoia Capital.
Amazon owned almost half of Gear.com, which was
also backed by Elliott Associates, Kellett Investment,
Madrona Venture Group, Sugar Mountain Capital, and
Westgate International. Overstock is backed by individual
investors.
http://www.gear.com/
http://www.overstock.com/

======= New Money =======

o Bioinformatics Incubator LaunchCyte Secures $2 Million Seed

PITTSBURGH -- LaunchCyte, a newly formed bioinformatics
incubator that supports the convergence of life
sciences and information sciences, said it completed
a $2 million round of funding. LaunchCyte plans
to create new companies to commercialize bioinformatics
technologies. The funding enables the company to
begin providing services and seed capital to early-stage
digital biology firms.
http://www.launchcyte.com/
_____________________________________________

o Ethernet Provider Lantern Secures $59 Million in Round Two

SAN JOSE, Calif. -- Lantern Communications, a developer
of optical access technology for operators of metropolitan
area networks, said it raised $59 million in its
second round of financing. The round was led by
the Goldman Sachs Group and included participation
from Madison Dearborn Partners, Menlo Ventures,
Integral Capital, Tyco International, and previous
investor Mohr Davidow Ventures. The company will
use the funds to develop its resilient optical packet
ring system, which delivers Ethernet services, and
to expand its new subsidiary Lantern Communications,
located in Ottawa, Canada.
http://www.lanterncom.com/
_____________________________________________

o MAILnet Spins Out of DataMarketing With $8 Million

NASHVILLE, Tenn. -- MAILnet Services, which helps
businesses deliver electronic messages and direct
mail for marketing campaigns, said it is spinning
out of DataMarketing Network, a mail fulfillment
company, after three years of incubation. As part
of its launch, MAILnet raised $8 million from Massey
Burch Capital and Mellon Ventures. MAILnet also
said it named Don Leyrer as president and CEO and
Phil Pfeffer as chairman of the board. Mr. Leyrer
was previously a senior vice president and general
manager at Comdata. Mr. Pfeffer is president and
CEO of Treemont Capital, an equity investment company.
The company's flagship offering is listcleanup.com,
a list processing service.
http://www.mailnetservices.com /
_____________________________________________

o Managed Security Firm Netsec Ups First Round by $3.8 Million

HERNDON, Va. -- Netsec, which provides commercial
and government organizations with managed security
services, said it received $3.8 million from E*Trade
Venture Capital, closing its first round of funding
with $15 million. Softbank Ventures earlier invested
$11.2 million in this round. The company will use
the funds to expand its services.
http://www.netsec.net/
_____________________________________________

o Recommendation Platform Company TripleHop Gets Early Funds

NEW YORK -- TripleHop Technologies, which provides
matching platforms and recommendation systems for
Web sites, call centers, mobile and voice portals,
said it received an undisclosed amount of funding
from Artificial Life Ventures, the investment subsidiary
of Artifical Life, a publicly traded provider of
intelligent software robots for the Internet. The
company will use the funds to develop joint applications
with Artificial Life. TripleHop is the fund's first
investment. TripleHop said it will close its Series
A round of funding in the fall.
http://www.triplehop.com/
_____________________________________________

o Workforce Portal eLabor.com Gets $40 Million Second Round

CAMARILLO, Calif. -- Elabor.com, which provides
labor, contractor, and project management services,
said it has raised $40 million in its second round
of funding led by Lehman Brothers. The round also
included Redpoint Ventures and Microsoft. This investment
adds to the $7.5 million secured in the first round
from Brentwood Venture Capital.
http://www.elabor.com/
_____________________________________________

o Data Services Marketplace Bandwidth Place Raises Round One

CALGARY, Alberta -- The Bandwidth Place, an online
site where buyers can request quotes for Internet
data services, said it received an undisclosed amount
of first round funding from an individual investor.
The company will use the funds to expand marketing
and develop its Web site tools. The Bandwidth Place,
created in 1999, recently re-designed its site,
which includes bandwidth meters, online forums,
tutorials, and articles.
http://www.bandwidthplace.com/
_____________________________________________

o Digital Distribution Firm AudioSonix Gets $250,000 Seed

WASHINGTON -- AudioSonix, a Web-based service for
the distribution of digital content packages, said
it received $250,000 in its seed round from undisclosed
individual investors. AudioSonix will use the funds
for product development and sales and marketing.
AudioSonix is seeking an additional $2 million in
funding.
http://www.audiosonix.com/
_____________________________________________

o Engineering Software Firm Numetrics Raises $1.2 Million

SANTA CLARA, Calif. -- Numetrics Management Systems,
which provides Internet-based engineering management
software for electronics companies, received $1.2
million in early-stage funding from a group of individual
investors that includes Cadence Design Systems co-founder
Glen Antle. The company said it will use the funds
for further product development.
http://www.numetrics.com/
_____________________________________________

o ASP Delivery Managment Service Raises $20 Million Series B

MARLBOROUGH, Mass. -- Xevo, which provides infrastructure
technology, said it raised $20 million in its Series
B round of funding. New investors in the round include
Cisco Systems, KPMG Consulting, and Portal Software.
Previous investors Prism Venture Partners, Advanced
Technology Ventures, and Catalyst Health and Technology
Partners also contributed to the funding. The company
said it will use the funding for marketing and services,
expand internationally, and continue to develop
its product. Xevo's technology enables its users
to manage delivery of application services online.
http://www.xevo.com/
_____________________________________________

o Home Networking Tech Creator Sage Closes $2 Million Series B

ALAMEDA, Calif. -- Sage Systems, an intelligence
technologies developer, said it closed a $2 million
Series B round of funding led by Cardinal Venture
Capital. Existing shareholders and principals at
Costella Kirsch, which provides lease financing,
also participated in the round. Sage is the developer
of Aladn, a home networking technology that links
devices like light switches and thermostats to each
other and to the Internet. The company said it will
use the funds for product development. Derek Blazensky,
a founding partner of Cardinal, joins Sage's board
of directors.  Previous investors include Kaufman
& Broad Home, Kensington Investment Group, and Kenetech.
http://www.sagesys.com/
_____________________________________________

o Maritime ASP ShipServ Gets $5 Million in Second Round

SAN FRANCISCO -- ShipServ, a provider of Web-based
business-to-business applications for the global
maritime shipping industry, said it received more
than $5 million in its second round of financing.
Ionian Ventures, an investment group backed by Fenway
Partners; CNF Ventures; and Thomas Miller, a mutual
insurance manager, led the round. Temasek Holdings,
a group within the Singaporean Government, and Jan
Leschly, a board member of American Express, A.P.Moller,
Ventro and Viacom/CBS also participated in the round.
ShipServ said the funding will go toward global
expansion and product and services development.
Previous investors include senior executives from
Amazon.com, Sybase, CMGI/@Ventures, and Boston Consulting
Group.
http://www.shipserv.com/
_____________________________________________

o Automated Power Exchange Closes Third Round with $36 Million

SANTA CLARA, Calif. -- Automated Power Exchange,
a provider support services to the electric power
industry, said it received an additional $2.5 million
from Nissho Iwai, closing its third round with $36.1
million. Previous investors in this round included
Woodside Fund, Tokyo Electric Power, Itochu, Ontario
Hydro, Bechtel, Kinetic Ventures, Onset Ventures,
and Technology Partners. The company will use the
funds to expand in North America, Asia and Europe.
http://www.apx.com/
_____________________________________________

o Disease Surveillance Tech Firm MRL Raises $25 Million

HERNDON, Va. -- MRL, which develops technologic
services and products for the study, surveillance
and testing of infectious diseases, said it completed
a private placement, raising $25 million. Sprout
Group, the venture capital affiliate of Donaldson,
Lufkin & Jenrette, led the financing, with participation
from Global Health Care Partners and DLJ's Merchant
Banking Partners III and its affiliates. The Sprout
Group also purchased all non-management, equity
shares held by MRL's former parent company Focus
Technologies. The funds will be used for acquisitions
and expansion of the company's surveillance network.
http://www.mrlinfo.com/
_____________________________________________

o Wireless Technology Firm VoxSurf Receives $5 Million

DUBLIN -- VoxSurf, a developer of voice and wireless
application protocol technology for communications
infrastructure providers, said it raised $5 million
in a round of funding led by Delta Partners that
included BancBoston Capital and Murray Johnstone.
The funds will be used for development of new applications
and marketing.
http://www.voxsurf.com/
_____________________________________________

o Customer Relationship Management Service Raises $3.9 Million

SAN DIEGO -- V2Commerce, a provider of online customer
relationship management services, said it raised
$3.9 million in its Series B funding. Investors
in the round include Vanguard Atlantic, Mclean Watson
Capital, and private individuals. The company said
it will use the capital to support the continuing
development of the operation, technology, and distribution
of its services. Stanley Chan, of Mclean Watson,
Fred Applegate, founder of Nicolas Applegate Capital
Management, and Hugh Teitjen, founder of Computer
Intelligence, will take seats on the company's board
of directors following the round of funding.
http://www.v2commerce.com/
_____________________________________________

o S3 Invests $12.5 Million in Youth-Focused Tech Firm KB Gear

SANTA CLARA, Calif. -- The publicly traded digital
media company, S3, said it invested $12.5 million
in KB Gear Interactive, a developer of computer-enhanced
products for young people, in its fourth round of
funding. As part of the alliance, S3 will help with
KB Gear's international product distribution.  KB
Gear said it expects approximately another $8 million
in funding before the close of this round. KB Gear
has just launched a product line of digital cameras,
music players, and Web graphics as an extension
of its Web site, jamonline.com. KB Gear is also
backed by Point West Ventures.
http://www.s3.com/
http://www.kbgear.com/
_____________________________________________

o Asian Discount Brokerage Boom.com Secures $8.6 Million

HONG KONG -- Hong Kong-based Boom.com, an online
discount stock brokerage for the Asia Pacific region,
said Oversea-Chinese Banking Corp. (OCBC Bank) has
taken a minority stake in the company. The $8.6
million investment caps a $22 million round of financing
that includes investments from Australia and New
Zealand Banking Group (ANZ) and previous investors.
J.F. Shea Ventures, and WR Hambrecht & Co. have
also backed Boom.com.
http://www.boom.com/
_____________________________________________

o Ampal-American Invests $1.6 Million in Troubleshooter MuTek

NEW YORK -- Ampal-American Israel, said it has invested
$1.6 million in MuTek Solutions, a developer of
remote-troubleshooting technology for software professionals.
The investment was made as part of MuTek's $15 million
round of funding. Ampal holds approximately 6.3%
equity interest in MuTek. Other investors who participated
in the round include Star Ventures Enterprises,
Evergreen International Investments, Clal Venture
Capital and Mofet Israel Technology Fund. MuTek
is also funded by Early Bird and Nippon Investment.
Telephone 919-878-3717.
http://www.mutek.com/
_____________________________________________

o ESCO Capital Invests in Streaming Media Firm Nomad

ZURICH -- Nomad Media, a European streaming media
company, announced it has received an undisclosed
equity investment from ESCO Capital Management,
a private investment and management firm. Gayle
Eassary, principal of ESCO and chairman of Streamedia.net
will join Nomad's board of directors. Ms. Eassary
also has made an undisclosed equity investment in
the company.
http://www.nomad.ch/
_____________________________________________

o Online Investment Firm AccessBroker.com Gets Funding

DALLAS -- AccessBroker.com, which provides online
investing and trading services for self-directed,
active equity investors and traders, said it has
received an undisclosed amount of funding from PSINet
Ventures. AccessBroker, formerly 1800DayTrade.com,
said it will use PSINets's Web hosting facilities
to keep its Web site available 24-hours every day.
http://www.accessbroker.com/

======= New Products =======

o Eastern Europe Auction Site Vatera Launches with eQuest Seed

ATHENS, Greece -- Vatera.com, an online auction
site that will focus on Eastern European markets,
announced it has launched. EVision, the venture
capital arm of Latin America auction site DeRemate.com,
and CEO Panagiotis Gomopoulos founded the new site.
Vatera has raised $2 million in seed funding from
U.S.-based eQuest Partners, a venture capital fund
created by Edgar Bronfman of Seagram Co. and Alejandro
Zubillaga of Venezuelan broadband services provider
Veninfotel. The funds are earmarked for expansion
in Turkey, Hungary, Poland, and the Czech Republic
by the end of the year. In addition to DeRemate,
eQuest has invested in approximately ten firms in
Eastern Europe and Latin America, including Loquesea.com,
a Latin youth site, and healthcare site Salutia.
http://www.vatera.com/
_____________________________________________

o Wireless App Firm Pervasic Launches Pan-European Service

LONDON -- Pervasic, which provides wireless application
services, said it was launching its service in London
and across Europe. The company raised its initial
funding from the Wireless Internet Portfolio, a
fund supported by Carphone Warehouse, and E-vestment.
The rollout began in London and will continue in
major metropolitan areas across Europe including
Paris, Frankfurt, Amsterdam, and Stockholm. Pervasic
founder and CEO, Mark Potts, has developed a number
of Internet and technology initiatives including
Document Technologies and RAIR. Mr. Potts previously
worked as a consultant for International Computers,
Xerox's Palo Alto Research Center, and the World
Intellectual Property Association. Both investing
firms hold seats on the Pervasic board of directors
as a result of their initial financing.
http://www.pervasic.com/
_____________________________________________

o U.S. Creative Changes Name to Ci2i, Expands Services

SAN FRANCISCO -- U.S. Creative, an online provider
of creative marketing services, said it changed
its name to Ci2i. The company also said it will
evolve into an online infrastructure provider for
management of creative marketing projects. Ci2i's
core product, Streamline, an online integrated workflow
and collaboration system for broadcast, print, and
Web projects, is set to launch early next year.
Ci2i is funded by Convergence Partners and Sanchez
Capital Partners.
http://www.uscreative.com/
_____________________________________________

o Telecommunications Firm Unified Office Changes Name to Caleo

AUSTIN, Texas -- Unified Office, a telecommunications
and software company, is changing its name to Caleo
Networks and expanding its services to include business-to-consumer
products along with its current business-to-business
services. The company offers telecommunications
providers and carriers with communication applications,
such as voicemail, fax services, interactive voice
response, unified messaging, and other appplications.
Caleo's services also combine local phone and Internet
voice services. Caleo is funded by Mercury Ventures.
http://www.caleonetworks.com/
_____________________________________________

o ClothingAmerica Launches, Provides Donations to Charity

SAN JOSE, Calif. -- ClothingAmerica, an online clothing
portal for individuals, retailers and distributors,
announced its launch. Some of the company's vendor
partners pay the company a 3% to 18% commission
on every ClothingAmerica purchase, which in turn
gets donated to a charity that helps provide clothing
to underprivileged children and the homeless. The
company said short-term plans include a reselling
distribution channel from clothing manufacturers
to international retailers. ClothingAmerica is backed
by individual investors and raised approximately
$100,000 in seed funding.
http://www.clothingamerica.com/

======= M&A =======

o Dating Service MatchNet Acquires Messaging Firm doYOU2.com

BEVERLY HILLS, Calif. -- MatchNet, a publicly-traded
online dating services provider, said it acquired
doYOU2.com in a stock transaction. Terms of the
deal were undisclosed. DoYou2 has developed patented
annonymous messaging and matching technology for
teens. Founder and CEO of doYOU2 Gil Sudai will
remain with the company throughout the transition.
DoYou2 is funded by CAP Ventures and Capital Group.

http://www.doyou2.com/
http://www.matchnet.com/
_____________________________________________

o Bruce McGaw Graphics Buys Online Art Seller Artinside.com

SAN FRANCISCO -- Bruce McGaw Graphics, which publishes
and distributes print and poster images, said it
is acquiring Artinside.com, an art retail site that
provides technology for viewing art before purchase,
for an undisclosed amount of stock. The companies
said the acquisition enables Artinside.com to strengthen
its position in the market with the addition of
5000 new pieces of art. Bruce McGaw, the founder
and co-owner of Bruce McGaw Graphics will be the
chief executive officer of the combined entity.
Artinside.com's founder and acting CEO Rengan Rajaratnam
will be the president. The company said roughly
three employees at Artinside.com will be laid off
as a result of the acquisition. Artinside.com was
funded by Galleon Group, Redwood Ventures and Galaxy
Ventures.
http://www.bmcgaw.com/
http://www.artinside.com/
_____________________________________________

o CarParts.com Acquires Software Firm CR Computing Solutions

EL SEGUNDO, Calif. -- CarParts.com, which sells
automotive parts and accessories online, said it
acquired CR Computing Solutions in a stock transaction.
Financial terms of the deal were undisclosed. CR
is a provider of business management systems for
warehouse distributors in the automotive aftermarket
parts industry. Chuck Ruban, founder and former
CEO of CR, will remain with the company as vice
president of business development. CarParts is funded
by RHO Management, @Ventures, Barnard & Co., Investor
AB Group, Brand Equity, St. Paul Venture Capital,
and Ravenswood Capital.
http://www.carparts.com/
http://www.crcs.com/
_____________________________________________

o Law.com Buys Document Collaboration Site DocumentForum.com

SAN FRANCISCO -- Law.com, a Web site for legal professionals
and law students, said it acquired DocumentForum.com,
a provider of real-time document collaboration services,
for an undisclosed amount. Law.com recently acquired
application service provider PMT and realLegal.com,
an electronic transcript service for the legal community.
The company is majority owned by U.S. Equity Partners,
a private equity investment fund sponsored by Wasserstein
Perella & Co., and Softbank Capital Partners.
http://www.law.com/
_____________________________________________

o Securities Firm Siebert Acquires Women's Financial Network

NEW YORK -- Siebert Financial, a publicly-traded
securities firm, announced the acquisition of Women's
Financial Network (WFN), a financial Web site targeted
to women. Financial terms were not disclosed. The
site will become a subsidiary of Siebert and be
called Women's Financial Network by Siebert. WFN
founder and chief executive officer Jennifer Openshaw
will serve as the company's vice chairman. The site
will include online trading, free checking, online
bill-paying, and other financial management services.
WFN is backed by New Vector.
http://www.wfn.com/
http://www.siebertnet.com/
_____________________________________________

o Writing Site eNovel.com to Buy AOL-Linked Novel Products

RICHMOND, Va. -- ENovel.com, a site for aspiring
authors, said it intends to acquire Novel Products,
which owns The Amazing Instant Novelist site available
on the Web and through America Online, for an undisclosed
amount. ENovel said the acquisition gives it access
to AOL's 26 million members. Enovel.com is backed
by individual investors and is presently seeking
additional venture capital.
http://www.enovel.com/
http://www.instantnovelist.com/

======= New Directors =======

o PrecisionMatters Taps Ex-Precision Partners CEO for Board

SAN FRANCISCO -- PrecisionMatters, a developer of
specialized online collaborative marketplaces for
engineers, buyers, and suppliers of precision components
within vertical industries, said it appointed James
Ashton as the fourth member of its board of directors.
Mr. Ashton formerly served as chairman and CEO of
Precision Partners, a company that offers contract
mechanical manufacturing services to original equipment
manufacturers. Precision Partners is not affiliated
with PrecisionMatters, which recently introduced
its first product, PartQuoteMedical, a database-driven
online marketplace for precision medical device
components. The company is backed by individual
investors.
http://www.precisionmatters.com/

======= New People =======

o B2B Communications Firm Planet Exchange Names New CEO

KING OF PRUSSIA, Pa. -- Planet Exchange, which provides
business-to-business communications technology,
said it promoted vice president of sales,  Joseph
Rose, to CEO. Mr Rose replaces Ron Rock, who left
the company in September. Planet Exchange is backed
by Unified Communications.
http://www.planetexchange.com/
_____________________________________________

o E-Commerce Site eScout Names Former Unbound COO as President

LEE'S SUMMIT, Mo. -- eScout.com, an Internet commerce
site for independent businesses and banks, said
its board elected Jude Dieterman as president.
Mr. Dieterman previously served as president and
COO of Unbound Communications, a Vtech Holdings
company.  Mr. Dieterman replaces Sandy Kemper who
will become eScout's chairman and CEO. In addition
to an equity position held by UMB Financial, eScout
is backed by Mayfield Fund Oak Hill Venture Partners,
Tarrant Venture Partners, and Commerce One.
http://www.escout.com/
_____________________________________________

o Transport Management Firm DriverNet Appoints CEO and COO

KANSAS CITY, Mo. -- DriverNet, which provides Internet
and intranet network management services to the
transportation industry, said it appointed David
Buckley as its first CEO and Tad DeOrio as its first
president and COO. Mr. Buckley was previously the
senior vice president and e-business leader for
Transport International Pool (TIP). Mr. DeOrio was
promoted from CFO. Backers for DriverNet include
GE Capital, a wholly owned subsidiary of General
Electric Company.
http://www.drivernet.com/

======= VC Fund News =======

o Bayerische Landesbank Founds New $89 Million VC Fund

MUNICH, Germany -- German banking firm Bayerische
Landesbank said it launched a new DEM 200 million
venture capital fund, BayTech Venture Capital Partners.
The fund willl operate internationally with its
headquarters established in Munich. Bayerische Landesbank
leads all investors in the fund with financing of
DEM 100 million. The European Investment Bank contributed
DEM 50 million to the new fund. Investors expected
to follow suit include Bayerische versicherungskammer
and the French bank Caisse des Depots et Consignations.
The fund will invest in information and communications,
life sciences, and industrial technologies. Bayerische
Landesbank has selected Rolf Schneider-Gunther,
former general partner of Atlas Venture in Germany,
to manage the fund.
http://www.bayernlb.de/

======= VW Corrections =======

o Cardinal Venture Capital

NEW YORK -- An item in yesterday's VentureWire about
a new $75 million fund created by Cardinal Venture
Capital contained an incorrect dateline. Cardinal
Venture Capital is located in Menlo Park, Calif.,
not Seattle.
_____________________________________________

o Kamoon

NEW YORK -- Due to incorrect information provided
by the company, an item in Thursday's VentureWire
incorrectly listed the BRM Group as the lead investor
in Kamoon. The lead investor was Patricof. Also,
Apax Partners was an investor, not Apex.

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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/06/2001
05:52 PM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 03/25/2001 08:24:07 AM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: Request

Vince,

I'm glad you liked it.  My next "Enron" task is to try and develop a better
understanding of the way you describe the use of BTU swaps to create a
synthethic multi-fuel plant.  I understand the basic concept but want to
learn more about the swaps (duration, cost, etc) which will impact a
company's decision to build a single vs multi-fuel generator.  Do you have
some example transactions or analyses that I might look over to learn more?

See ya in April (we're going to learn to "rope" calves this year).

Your friend,

John

At 06:03 PM 3/23/01 -0600, you wrote:
>
>John,
>
>Yes, I did. Looks great.
>Vince
>
>
>
>
>
>"John D. Martin" <J_Martin@baylor.edu> on 03/23/2001 05:02:05 PM
>
>To:   Vince.J.Kaminski@enron.com
>cc:
>Subject:  Re: Request
>
>
>Thanks Vince.  This is great.
>
>By the way, did you get copies of the journal with our paper?
>
>John
>
>At 04:59 PM 3/23/01 -0600, you wrote:
>>
>>John,
>>
>>No problem.
>>I look forward to it.
>>
>>Vince
>>
>>
>>
>>
>>
>>"John D. Martin" <J_Martin@baylor.edu> on 03/23/2001 09:04:44 AM
>>
>>To:   vkamins@enron.com
>>cc:
>>Subject:  Request
>>
>>
>>Vince,
>>
>>Would you mind making a few luncheon comments to the Texas Finance
>Festival
>>group at our sat luncheon?  I struck out with Andy and Sheridan thought
>>that you could relate very well to the group.  How about it?
>>
>>John
>>
>>John D. Martin
>>Carr P. Collins Chair in Finance
>>Finance Department
>>Baylor University
>>PO Box 98004
>>Waco, TX 76798
>>254-710-4473 (Office)
>>254-710-1092 (Fax)
>>J_Martin@Baylor.edu
>>web:    http://hsb.baylor.edu/html/martinj/home.html
>>
>>
>>
>>
>John D. Martin
>Carr P. Collins Chair in Finance
>Finance Department
>Baylor University
>PO Box 98004
>Waco, TX 76798
>254-710-4473 (Office)
>254-710-1092 (Fax)
>J_Martin@Baylor.edu
>web:    http://hsb.baylor.edu/html/martinj/home.html
>
>
>
>
John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Attached is the link that will allow you access to referenced database.
Please note, that we have just upgraded the database to add the ISDA
definitions, branch offices approved for trading, and market disruption
provisions.  This information should be inputted for the new master swap
agreements on a going forward basis, but we still need to go back and
repopulate the data for the existing master swap agreements.

Also, FYI, the "See" drop down is our nickname for the name changes and
mergers reference.  If an item is filled in for that entity it should show
you any prior or new names for the counterparty.

If there is anyone else who would like the link, please let me know and I
will forward it to them.

We hope you find the information provided in this database helpful.

Link -->


I promised to send you the arbitration case we discussed. It's IP Timberlands
Operating Co. Ltd. v Denmiss Corp., 726 So.2d 96 (Miss. 1998). Please send me
the cite to the case you were referring to.

Thanks


Charlie,

Thank you for taking the time to meet with me on such short notice.  I am
really looking forward to hearing about your MBA experience at UT.  I have
taken the liberty of attaching my resume for your review.

I look forward to meeting you this afternoon!

Connie Lee
Enron Broadband Services
713/345-8227 (W)
713/419-2728 (C)
connie_lee@enron.net


My vote is to kill it.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 12/02/2000
10:11 AM ---------------------------

Raymond Bowen@ECT
11/30/2000 12:18 PM
To: David W Delainey/HOU/ECT@ECT
cc: Dorie Hitchcock/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg
Whalley/HOU/ECT@ECT

Subject: Re: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM

Dorie,
I share Dave's skepticism.

Ray Bowen

David W Delainey
11/30/2000 11:26 AM
To: Dorie Hitchcock/HOU/ECT@ECT
cc: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg
Whalley/HOU/ECT@ECT
Subject: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM

Dorie, I have to question the effectiveness of this program.  Over the years,
it appears that more spots are being filled by Enron people then customers.
The effectiveness of this forum from a customer point of view is
questionable.  I vote to kill it.

Please forgive the approach - but I would like to provoke a discussion with
my partners.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/30/2000
11:20 AM ---------------------------

	From:  Dorie Hitchcock                           11/30/2000 06:40 AM

To: Sylvia S Pollan/HOU/ECT@ECT, Robyn Zivic/NA/Enron@Enron, Andrew H
Lewis/HOU/ECT@ECT, Geoff Storey/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT,
Patrice L Mims/HOU/ECT@ECT, Kevin Ruscitti/HOU/ECT@ECT, Kelli
Stevens/HOU/ECT@ECT, Tom Donohoe/HOU/ECT@ECT, Joe Parks/Corp/Enron@ENRON,
Janet H Wallis/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, Jill T
Zivley/HOU/ECT@ECT, Brian Bierbach/NA/Enron@Enron, John Craig
Taylor/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Daniel Reck/HOU/ECT@ECT,
George McClellan/HOU/ECT@ECT, Mark Tawney/HOU/ECT@ECT, Jere C
Overdyke/HOU/ECT@ECT, Larry Lawyer/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT,
Eric Gonzales/LON/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT, Doug Leach/HOU/ECT@ECT, Bryan
Burnett/HOU/ECT@ECT, Wendy King/Corp/Enron@ENRON, Tim Battaglia@Enron,
Douglas B Dunn/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT, Billy
Lemmons/Corp/Enron@ENRON, David Howe/Corp/Enron@ENRON, Mark
Frevert/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron, David W
Delainey/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Jeffery Ader/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT,
Tim Belden/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, Derek Davies/CAL/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT,
Joseph Deffner/HOU/ECT@ECT, Paul Devries/TOR/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Scott
Josey/Corp/Enron@ENRON, C John Thompson/Corp/Enron@ENRON, Fred
Lagrasta/HOU/ECT@ECT, Eric LeDain/CAL/ECT@ECT, Laura Luce/Corp/Enron@Enron,
Thomas A Martin/HOU/ECT@ECT, Jonathan McKay/CAL/ECT@ECT, Michael L
Miller/NA/Enron@Enron, Rob Milnthorp/CAL/ECT@ECT, Jean Mrha/NA/Enron@Enron,
Scott Neal/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT,
Beth Perlman/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Brian
Redmond/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, James D
Steffes/NA/Enron@Enron, Fletcher J Sturm/HOU/ECT@ECT, Bruce
Sukaly/Corp/Enron@Enron, Mike Swerzbin/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron, Barry Tycholiz/CAL/ECT@ECT, Frank W
Vickers/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON,
John Zufferli/CAL/ECT@ECT, Deirdre McCaffrey/HOU/ECT@ECT, Jennifer
Shipos/HOU/ECT@ECT
cc:
Subject: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM

Winter is just around the corner and the new ski season will be opening
soon.  Please review the proposed information below, regarding the
ENA/EGM/EIM Customer Ski Program, to help us determine what our needs will be
for the 2001 season.

Location:  Beaver Creek, Colorado
Preliminary Dates:  February 21 - March 14, 2001
Approximate Cost Per Person:  $2,600 (based on 82 participants)

The preliminary dates have been divided into 6 trips:
TRIP	DATES	TOTAL # OF BEDS
Trip 1	Wed, February 21 - Sat, February 24	11
Trip 2	Sun, February 25 - Wed, February 28	17
Trip 3	Wed, February 28 - Sat, March 3	13
Trip 4	Sun, March 4 - Wed, March 7	13
Trip 5	Wed, March 7 - Sat, March 10	13
Trip 6	Sun, March 11 - Wed, March 14	15

The program cost per person includes:
? Four days/three nights accommodations in luxurious private homes in the
premier Holden Road/Borders Road area of Beaver  Creek with daily maid service
? Animated invitation with on-line registration
? Round-trip airport ground transportation
? Experienced property hosts
? Daily lift tickets and ski instruction
? Ski equipment rental
? Catered dinner two nights
? Catered breakfast daily
? Off-site dinner coordination
? Alternate activity coordination
? Private vans at each house
? One massage with experienced in-house massage therapists
? Enron promotional gift item
? Pre-program administration and coordination
? On-site operation

If you are interested in participating in the 2001 ski program, please submit
an email  request to me no later than Friday, December 8th, including the
following information:
Name
Company
Department
Telephone
Fax
Number of People
Choice of Dates (1st, 2nd & 3rd)
Company #
RC #

The week of December 11th, all requests will be compiled for review and final
approval.

Questions should be directed to my attention at (713) 853-6978.


---------------------- Forwarded by Steven J Kean/NA/Enron on 05/11/2001
01:58 PM ---------------------------

eserver@enron.com on 05/11/2001 01:50:41 PM
To: "Steven.J.Kean@enron.com" <Steven.J.Kean@enron.com>
cc:

Subject: <<Concur Expense Document>> - JS5/8/2001

The following expense report is ready for approval:

Employee Name: James Steffes
Status last changed by:  Automated Administrator
Expense Report Name: JS5/8/2001
Report Total: $9,865.42
Amount Due Employee: $9,865.42

To approve this expense report, click on the following link for Concur
Expense.
http://xms.enron.com


Greg-

Just to let you know that I am a phone call away.

When the going gets tough, the tough gets going!

Always Ready!

Antonio Jenkins-Lara
Director of Logistics
Reliant Energy Broadband
*********************************
Office   (713) 207-5476
Mobile (713) 417-7439
Fax       (713) 207-9639
Ajenkins-lara@reliant.com
Ajenkins-lara@imcingular.com


jhernan3
---------------------- Forwarded by Juan Hernandez/Corp/Enron on 04/10/2001
01:48 PM ---------------------------

	From:  Kayne Coulter @ ECT                           04/10/2001 11:11 AM

To: John Kinser/HOU/ECT@ECT, Rudy Acevedo/HOU/ECT@ECT, Juan
Hernandez/Corp/Enron@ENRON, Miguel L Garcia/NA/Enron@ENRON, Joe
Stepenovitch/Corp/Enron@Enron, Joe Errigo/Corp/Enron@Enron, Doug
Miller/Corp/Enron@Enron, Larry F Campbell/NA/Enron@Enron, Keller
Mayeaux/Corp/Enron@Enron, Chad Starnes/Corp/Enron@Enron, Dean
Laurent/HOU/ECT@ECT, Don Baughman/HOU/ECT@ECT, Christopher
Watts/NA/Enron@Enron, Steve Olinde/Corp/Enron@Enron, Larry
Jester/Corp/Enron@ENRON, Juan Padron/NA/Enron@Enron, Benjamin
Rogers/HOU/ECT@ECT, Narsimha Misra/NA/Enron@Enron, Patrick Hanse/HOU/ECT@ECT,
Mauricio Trejo/Enron@EnronXGate, Dustin Collins/HOU/ECT@ECT
cc: Andrea Dahlke/NA/Enron@ENRON

Subject: enpower user id's

Everyone needs to e-mail your enpower ID to Andrea Dahlke, please do so ASAP.

Thanks
Kayne


CALENDAR ENTRY:	APPOINTMENT

Description:
	Hasan/On Call Support (Lynn's Office)

Date:		8/18/2000
Time:		3:30 PM - 4:30 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


_______________________________________________________________

This message and any attachments are intended for the individual or entity
named above.  If you are not the intended recipient, please do not read,
copy, use or disclose this communication to others; also please notify the
sender by replying to this message, and then delete it from your system.
Thank you.
_______________________________________________________________

The following discusses the regulatory issues raised at our June 14 meeting
with Peoples.                                           1. Expanded
termination right for unacceptable "Regulatory Approval".  As discussed
prior to the meeting, language of Sects. 1.1, 1.11, 10.2 and 15.1(f) was
changed to provide a termination right in the event that an unacceptable
regulatory order is issued after initial approval of the Agency Agreement,
but during its term. Peoples explained at the meeting their view that a
termination right should exist in the event of an adverse rate order (e.g.,
Illinois Commission order imputing what Peoples believes to be an
unreasonably high level of Hub revenue and, therefore, unaccpetably
lowering retail gas rates) or FERC determination that, based on Hub
operations, Peoples is in jeopardy of losing its status as a Hinshaw
pipeline. These were examples of the types of orders Peoples has in mind.
As proposed in our draft, either party would have a termination right in
the event that the Agency Agreement is not initially approved by the ICC on
acceptable terms. Under our approach, however, the parties would have to
live with ;later adverse regulatory orders unless an order had the effect
of revoking the Hub's operating authority. My view is that we could
reasonably agree to a termination right (similar to Sect. 11.1 (vi) and
(vii) of the LLC Agreement) which grants a termination right, "in the event
that a Jugment determines that, as a result of Hub Transactions, Peoples is
subject to comprehensive rate regulation as a natural gas company or public
utility by the FERC; or loses its status as an exempt Hinshaw pipeline
under Section 1(c) of the Natural Gas Act." I would suggest that we
otherwise stay with our original language re regulatory approvals. Once
Peoples obtains an order from the ICC which both parties accept, Peoples
should be willing to assume the risk (which,in my opinion is minimal) that
an adverse rate decision would cause it to wish to terminate the Agency
Agreement. (David suggested at the meeting that, as another option, we
could agree to a termination right due to an adverse regulatory order if
Peoples chooses to discontinue all Hub Transactions, but I am not sure that
we need to offer this at this stage.) The word "required" should be
restored to Definitions 1.1 and 1.11.              2. Extended Hub
Services. Peoples agreed at the meeting that there should be compensation
after termination of the Agreement for an extended Hub Service presented
during the Agreement's term. To make this clear,the words "during the term
of this Agreement" should be deleted from Sect. 7.1(ii). The deleted
wording of 7.2 should be restored, and to that Section we could add a
sentence: "The right to compensation established under Section 7.2 (ii) for
an Extended Hub Service shall survive the termination of this Agreement."
Also, in Section 15.4, I believe the reference to Sect. 3.3 should be to
7.2.                     3. "Hub Services"-Sect. 1.17. Based on discussion
at the meeting, I understand that there is a need to address the "two
county rule" in the Agreement.  In connection with this, there was
discussion of the need to change the description of the Hub Services to
make clear that the services are incidental to the primary uses of the Hub
Facilities. As I understand it, the description of the services both for
the Agreement and the GTC may be changed to replace the existing references
to transportation services a reference to "wheeling" serivces. This should
be addressed when the revised terms of the GTC are available. I believe the
business people also are discussing a procedure for approval of
transactions to ensure compliance with the two county rule, and are
preparing a list of types of transactions which will be pre=approved.
4.
Adjustment of Administrative fee for refunds. Our position, as discussed at
the meeting, is that Sect. 7.3 which provides for retroactive adjustment of
the administrative fee in the event of a refund should be deleted. In
support, we point out that MEH relies on a specific fee value in seeking
out transactions and the fee shouldn't change after-the-fact as the result
of a refund. Peoples argues that a revenue-based fee should be adjusted if
there is a change in the realized level of revenue. This was left as an
open point. Peoples acknowledged at the meeting that the proposed fee
adjustment would occur only due to a rate refund. This means that the
administrative fee could be adjusted retroactively only if a transaction
occurs under a newly proposed rate which is part of the Operating
Statement, but subject to refund at a level higher than the previously
approved rate but lower than the maximum price under the new rate. The only
portion of the fee which is at risk is the portion produced by use of a
rate above the previously approved level. If, for example, a 10% increase
is proposed and made effective subject to refund. A risk arises only if the
negotiated price is at 90% of the maximum or above. If it is, the refund
risk to MEH is its percentage of the revenue produced by the rate above the
90%above. If the rate is 95% of the maximum, the amount at risk is 5% of
MEH's 20% portion of the revenue, or 1% of the fee. A refund at this level
would occur in the example only if FERC approves no rate increase and
requires a refund of all subject to refund revenue. If FERC approves all or
part of the increase, the refund risk is reduced. Therefore, the decision
should not greatly effect the economics of the deal. If we decide to allow
some adjustment of the fee for refunds, the language should make clear that
we are including only "refunds related to a finding by FERC that a rate in
effect subject to refund is excessive and should be reduced."

5. Also with respect to refunds (required for any cause), Peoples agreed at
the meeting to provide the necessary funds. We could adjust the language of
Sect. 3.3 to read: "Peoples will pay to MEH all funds necessary to effect
such refunds on or before the earlier of : (i) the date prescribed by a Law
or Judgment for payment of such refunds; or (ii) ten (10) business days
after receiving written notice of the need for such payment." (Note:
Because refunds are required by FERC Order, Peoples would always know when
the refund has to be paid.)
6. Admin. Fee. After the business discussion of intended coverage
of the monthly fixed fee, we should reconsider the deleted language in 18.3
regarding reimbursement of costs incurred by MEH on Peoples' behalf.
7. Nomination and
Scheduling on Pipelines. Sect. 2.5. Peoples proposes to delete the language
we added which requires Peoples to make any necessary nominating or
scheduling changes on interstate pipelines for receipt and delivery of gas
at its city gate for its own account in order to effectuate Hub
transactions. The language went on to also require Peoples to arrange for
delivery of gas at a secondary delivery point by Displacement Delivery. At
the meeting, Peoples took the position that it is already required to
handle nominations and scheduling on pipelines by terms of the GTC. Peoples
also indicated that, due to the nature of the Hub Facilities and
transactions, the Delivery Points must be on Peoples' system and that
Displacement Delivery to a point which Peoples can access under one of its
pipeline agreements is not feasible for a Hub Serivce. (Note: In the
Northern Illinois Gas Hub Agreement, the utility agreed to the provision we
proposed.) With regard to the second part of our proposed sentence re
delivery by displacement at a secondary point off-system, I agree that the
GTC seems to contemplate delivery on Peoples system for the various types
of transactions covered. Perhaps we can delete section "(b)" of our
proposed sentence. I would like to know whether the business people have
comments on this. With regard to the part (a) (the requirement that Peoples
make nominanting and scheduling changes needed to effectuate Hub
transactions), however, I do not find any language in the GTC which makes
clear that this is Peoples' responsibility. Also, at our preliminary
meeting, Laura indicated that this was an important provision to restore.
(I believe Laura mentioned only part a, but need to check this.)
Therefore, I believe we should propose, at least, to restore the sentence
through part a, subject to verification with Laura and Gregg.
8. Grounds to Refuse Trransaction. Also, in 2.5, Peoples
included as one of the grounds to refuse a Hub Service presented by MEH, a
conclusion by Peoples that "Hub Capacity is deemed unavailable by Peoples
due to the service requirements of Peoples' utility customers." We pointed
out at the meeting that the GTC (Sect. 8) specifies all circumstances when
a Hub Serivce can be refused and that this provision is not one of the
specified situations. Once a firm transaction is established under the GTC,
it has equal scheduling priority with other firm interstate and intrastate
firm transactions. Peopels agreed that this item (Item 3) can be deleted. I
believe Peoples wishes to revise (1) to read: " permitted by the terms of
the GT&C, or required by any Law and Judment:.               9. Sect. 3.5.
Peoples proposes to delete our proposed Section 3.5 which requires Peoples
to use its best efforts to minimize imbalances experienced by Hub Shippers
through use of management services offered under pipeline tariffs. Such
services should be offered soon under Order 637 compliance filings. This
provision was inserted as part of a paragraph in Peoples' initial draft
which would have required MEH to compensate Peoples for imbalances
experienced on pieplines as a result of Hub Transactions. Peoples had taken
this provision from the NIGAS Hub agreement. In response, we had included
the wording of 3.5 to, at least, require best efforts to minimize
imbalances on the pipelines. Peoples now proposes to delete all of this on
the ground that imbalances on the pipelines are the responsibility of the
Hub Shippers, and not of Peoples or MEH. The GTC has provisions covering
the responsibility of shippers to address imbalances on the Hub Facilities,
and Peoples points to the Parking and Loaning  Service for Shippers to
address imbalances. In reviewin g this, I believe Peoples is right. Because
the language requiring MEH to address imbalnaces on the pieplines has been
deleted, I think we can delete the language of 3.5 requiring Peoples to use
best efforts to minimize those imbalances.
10. Sect. 2.2 Responsibility
for regulatory compliance. Peoples proposed changes to the language we
inserted in 2.2 in the second sentence from the end which indicated that
Peoples is responsible for compliance with the GTC. Peoples proposed that
each party be responsible. At the meeting, we explained that this language
was included to recognize FERC precedent requiring that, in circumstances
such as this, the agreement must identify the party responsible for
regulatory complaince and that party must be the certificate holder.
Peoples agreed at the meeting that our original language for this sentence
should be restored.      11. The Agreement (6.1) presently provides that
Peoples, in its sole discretion, may propose changes in the GTC. David
indicated at the meeting that, at a minimum, MEH should be advised of
changes in advance and provided with an opportunity for comments before
such changes are proposed. Peoples agreed to include such a provision.
Also, Peoples agreed that Section 5.1 should include a representation that
Peoples has provided MEH with a current copy of the presently effective
GT&C.
12.  Section 1.13. GTC.  Peoples agreed at the meeting that
the definition of GT&C  should be changed to end after the words "from time
to time". (This eliminates the refernce to  modification in Peoples' sole
discretion.)                                                           13.
Section 1.22 and 1.26. Peoples agreed that the definitions should refer
only to MEH and Peoples (and not to "controlled" persons)              14.
Section 1.15. Peoples agreed that the definition of Hub Capacity could be
changed to eliminate the reference to determination by Peoples in its sole
discretion. The determination should be "in accordance with the GT&C."
Peoples suggested that a standard of "good faith"  or "commercially
reasonable" would be acceptable.
15. Section 5.1. Peoples
agreed at the meeting that Section 5.1 could be revised to eliminate the
refernce to Laws and Judgments with a materially adverse effect. Peoples
agrees that there should be a representation that the Agreement does n ot
violate "any Judgment or Law applicable to it",as originally proposed.

16. Section 2.9. The discussion at the meeting indicated
that Peoples may accept use of a standard of "commercially reasonable" with
regard to its judgment under 2.9(i) and MEH's obligation to perform in
accordance with the Operating Statement, Laws and Judgments in 2.9(ii). I
was surprised that Peoples suggested this re 2.9. As I understand it, the
concern is that MEH should not be liable for contract damages in the event
that it acts in a commercially reasonable manner, but cannot, for some
reason, comply with the GTC or a Law or Judgment. I wonder if we can
accomplish this result with language in a later section of the Agreement
regarding liability. My concern is that a provision indicating that MEH's
responsibility for compliance with regualtory requirements, Laws and
Judgments is limited to best efforts or items it knows about may raise a
red flag for the regulators. I would like to discuss whether there is
another way to deal with potential liability without changing 2.9(ii) to
refer to "best" or "commercially reasonable" efforts. Let's discuss
tomorrow.                                17. Section 10.1. Filing for
Governmental Approval. At the meeting, Peoples indicated that, although it
believes it should have sole control over regulatory filings, Peoples will
agree to include a provision indicating that:"Prior to the filing of
applications, pleadings or testimony related to approval for operation of
the Hub, Peoples will provide copies of such materials to MEH, and consider
comments provided by MEH." We should discuss with the business peoples
whether this is sufficient, and how specific this provision should be. The
language here would be comparable to that inserted in 6.1 regarding the
right to review and comment on changes to the GTC.
18. Dissolution of
MEH. Peoples agreed that a portion of our proposed 15.1(f), up to the word
"terminated" on line 2 should be restored. Peoples only concern in
proposing deletion was that the LLC Agreement might be requested by the ICC
Staff due to the reference. As revised, the reference is removed.
19. Confidentiality. Peoples agreed to re-think the provisions of 17.1 re
confidentiality of the compensation provions of Articles 3 and 7. This was
not confidential in the NIGAS approval proceeding. Because the ICC Staff
will be aware of the provisions, I do not know why Peoples proposes to
require the procedures needed to maintain confidentiality of these
provisions in the approval proceeding.
20. Section 18.4. Peoples agreed to mutual review and agreement re
forward-looking statements re the Hub.                            21.
Section 2.4. At the meeting, Peoples agreed that the third sentence is
confusing and should be revised. I would suggest: " Peoples will inform MEH
promptly after it learns of information indicating that a revision to
information regarding Hub Capacity should be made or proposed in accordance
with this Section."
Tomorrow, I will re-review my notes to
make sure that I have covered the regulatory areas. I have notes on other
sections also if you have any need for them. I'll give you a call tomorrow
after I return from a morning hearing around 11:00am.


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Statements made in this advertisement should not
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Just in case I forget to mention it, I need to move our SF visit to Friday
am, due to travel plans.  Is this still ok with you?

Kay


----- Forwarded by Steven J Kean/NA/Enron on 10/16/2000 09:58 AM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	10/13/2000 05:10 PM

		 To: skean@enron.com, James D Steffes/NA/Enron@Enron, Tim Belden/HOU/ECT@ECT,
Christopher F Calger/PDX/ECT@ECT, David Parquet/SF/ECT@ECT, Laird
Dyer/SF/ECT@ECT, Sandra McCubbin/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES,
Paul Kaufman/PDX/ECT@ECT, Susan J Mara/SFO/EES@EES, Robert
Badeer/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON,
Joe Hartsoe/Corp/Enron@ENRON, Margaret Carson/Corp/Enron@ENRON, Rob
Bradley/Corp/Enron@ENRON
		 cc:
		 Subject: Dow Jones Reports that PG&E Buys Forward for 5.6 cents for two years


Dear Power Outage Database Customer,

Attached you will find an excel document. The outages contained within
are
rescheduled outages. Your daily delivery will still contain these
outages.

In addition to the excel document, there is a dbf file that is formatted
like the
daily delivery you receive nightly. This will enable you to
load the data into your regular database. Any questions please let me
know. Thanks.

Greg Elliott
IIR, Inc.
713-783-5147 x 3481
outages@industrialinfo.com

THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND
CONFIDENTIAL
INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY NAMED
ABOVE.  YOU
ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION, OR
COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS STRICTLY PROHIBITED. IF
YOU HAVE
RECEIVED THIS E-MAIL IN ERROR, PLEASE DELETE IT.

 - 020602R.xls
 - OUTAGE.dbf


Hey!  So should I drive tomorrow?  Or are you going to be tied up with dinner?  Let me know.  Hope everything is going ok at home.

M
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Mr. Lay,

I only heard part of the employee meeting as I had to leave for the airport to return to Puerto Rico but wanted to say that I have all the confidence in the world that under your leadership Enron will return to the great company it is.

We have all been through tough times (I use to be a land drilling contractor from 1979 to 1988). This company is sound, with good people who with the right leadership & direction can achieve the goal of  being the best company in the world.

I have been working with Enron as a contractor since March 99 in Panama, Puerto Rico and the Bahamas (LNG project).  I report to Mariella Mahan and  Greg Curran.   I really enjoy working with Enron and can assure you that you and Enron will always have my loyalty & confidence.

I am proud to say I work with Enron and want to do my part to bring this company back.

Sincerely,

Larry Kelley
(787) 562-9302 cell # in Puerto Rico


El Paso Tests Market for Mainline Expansion
El Paso Natural Gas apparently got the message when its last open season for 1.2 Bcf/d of firm transportation capacity attracted bids for 14.4 Bcf/d. The pipeline has announced an open season to test market interest in a mainline expansion and to satisfy regulatory concerns that something needs to be done to relieve the apparent capacity constraint at the California border.
El Paso has been under significant pressure from regulators and shippers to expand because of enormous demand and skyrocketing prices in California. In a Jan. 3 letter to the pipeline, Daniel M. Adamson, director of FERC's Office of Energy Projects, urged El Paso to consider modifying its Line 2000 project to "assist the difficult situation" now facing the California gas market. Specifically, the Commission recommended El Paso amend a pending application in which it seeks to acquire an existing 30-inch diameter, 1,088-mile crude oil pipeline from Plains All American Pipeline L.P., and convert part of it to natural gas transportation service. The line extends from McCamey, TX, to Bakersfield, CA. El Paso plans to convert to gas service a 785-mile segment from McCamey to Ehrenberg, AZ. El Paso proposed the Line 2000 project as a loop line to replace existing compression, and not as a system expansion.
El Paso Vice President Al Clark told the commission that market demand for an expansion would have to be evaluated first. He said the open season for 1.2 Bcf/d of capacity being held by affiliate El Paso Merchant Energy would give the first indication whether such an expansion was needed.
Following such a resounding wake-up call, El Paso is holding a new open season to determine interest in additional capacity on the mainline or in relinquishing mainline space. The open season will end March 23.
El Paso officials said they will consider requests for firm transportation service originating in any receipt basin and delivered to any location on its system. If a new load can be matched to an existing shipper's offer of release or relinquishment, El Paso will attempt to facilitate the transfer of the capacity between the parties prior to proposing an expansion. Upon receipt of non-binding expressions of interest, they will begin to identify appropriate facilities to possibly expand the system.
Clark previously told FERC the pipeline could add compression to the proposed Line 2000 project or replace or recommission the compression that the pending application proposes to abandon. Another option, he said, would be to add new compression to the existing system or loop either the existing system or Line 2000 project. The economics of the project will determine the eventual form.
For more information on the open season visit El Paso's web site <http://tebb.epenergy.com/ebbEPG/ebbmain.asp?sPipelineCode=EPNG> or call Jerry W. Strange, director of transportation marketing, at (915) 496-3139.


Please forward this to your groups. Thanks.
---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 12/11/2000
10:38 AM ---------------------------

From: Shona Wilson@ENRON on 12/11/2000 10:35 AM
To: Bob M Hall/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT, Peggy Hedstrom/CAL/ECT@ECT, Kathy Reeves/CAL/ECT@ECT,
Stacey W White/HOU/ECT@ECT, Monica Lande/PDX/ECT@ECT, David
Maxwell/HOU/ECT@ECT, Martha Stevens/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT,
Scott Earnest/HOU/ECT@ECT, Michelle Bruce/HOU/ECT@ECT, Sheila
Glover/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT,
Michael E Moscoso/HOU/ECT@ECT, Kristin Albrecht/Enron Communications@Enron
Communications, Gary Stadler/Enron Communications@Enron Communications,
Meredith M Eggleston/HOU/EES@EES, James New/LON/ECT@ECT, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan-Erland Bekeng/AP/Enron@Enron,
Jay Knoblauh/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Mike
Jordan/LON/ECT@ECT, Chris Abel/HOU/ECT@ECT, Kenneth
Thibodeaux/NA/Enron@ENRON, Michael Benien/Corp/Enron@ENRON, Burton
McIntyre/HOU/ECT@ECT, Susan D Trevino/HOU/ECT@ECT, Nancy
Hernandez/NA/Enron@ENRON, Debbie R Brackett/HOU/ECT@ECT, John D
Powell/HOU/ECT@ECT, Ganapathy Ramesh/HOU/ECT@ECT, Joel
Henenberg/NA/Enron@Enron, Matt A Brown/HOU/ECT@ECT
Subject: How do officialized books make it to credit?

In the past few months much focus has been put on understanding VAR and how
it is calculated (through RisktRAC).  However, everyone should note that the
credit department also receives our information.  Market risk and credit risk
are inherently different, with different requirements.  This memo serves as a
reminder of what some of the key differences are, how the credit system uses
RisktRAC differently from market risk, how this affects us, what some key
problems are in the credit system caused by our data, and changes to be made
by risk management groups.

differences are between credit and market risk - you all know this, but many
of your ba's don't.
when a book is flat it still has an effect on credit.  Flat books must be
officialized
market risk is keyed off positions and curves.  When we make money, market
risk is reduced.  Credit risk is keyed off positions with customers.  When we
make money, credit risk is increased, as people owe us more money.

how the credit system uses RisktRAC differently from market risk
Market risk picks up all officialized books.  If a book is not officialized
it does not pick the book up.
Credit picks up all officalized books.  If a book is not officialized, it
picks up the previous day's position.  Therefore, if positions in book A are
moved to book B, and A is no longer officialized, credit picks up the
previous day's position for book A.  As a result, if a book is no longer
used, please officialize it the first day it is no longer used, so credit
will pick up 0 on a go forward basis.
Market risk is not concerned with counterparty codes and names.
Credit needs correct counterparty codes and names.  In recent months, the
counterparty information has deteriorated.  Enron official counterparty names
need to be used so they flow properly to credit.

what are some key problems in the credit system caused by our data
As referenced above: correct counterparty names and books with 0 positions
not being officialized so credit picks up previous day info.
As a takeaway from this message please ensure only correct counterparty names
are used and that if a book has 0 positions that it is officialized the first
day it has 0 positions.

If you have specific questions about credit, please call Debbie Brackett, at
X35856.


Stinson,

Great! I'm looking forward to a very productive collaboration.
I'll immediately start doing Giuseppe's papers, for him to work
on the Enron/Stanford program.

Many Thanks to you and Vince, and I hope to see you soon at Stanford
or Enron. If I remember correctly, Vince is visiting Stanford in
October.

Best Regards,

Nick

Stinson.Gibner@enron.com wrote:
>
> Nick,
>
> I spoke with Paul Racicot, head of trading for  EBS, North America this
> morning.   He said that he is happy to send the $100,000 for your program
> from his budget.   I have forwarded to him the draft letter to accompany
> the funds and will try to follow up to make sure that the money is sent
> promptly.
>
> --Stinson