How Texas firm outfoxed state, PG&E

Kevin Fagan, Bernadette Tansey, Chronicle Staff Writers
		?
		Sunday, May 13, 2001

		El Paso Energy was facing ruin.
		It was the mid-'90s, and California's energy overseers were sure deregulation
was going to drive the cost of natural gas through the floor. So Pacific Gas
and Electric Co., with the happy acquiescence of the state, dumped a huge,
long-term gas contract with El Paso.
		For the state, the decision was a no-brainer: PG&E was buying more space on
gas pipelines than it needed.
		For El Paso, though, it was a disaster. The company started handing out pink
slips like they were candy.
		But in the long run, it wasn't El Paso that would end up on its knees. It
would be PG&E and the state of California.
		That pipeline space that the utility and regulators saw as unnecessary would
soon become precious -- and El Paso, led by a law-sharp chairman with
bare-knuckle smarts, would turn itself into the biggest natural gas firm in
the world.
		So big, in fact, that in the eyes of vengeance-minded lawmakers and
regulators, El Paso has become a poster monster for how Californians came to
be plagued by rolling blackouts and sky-high energy bills.
		"They didn't mind seeing all of us at El Paso being dealt a terrible blow
back then," said Randy Wu, an El Paso manager then. "And now . . . well,
let's just say they should have planned better." -- -- --
		It's not like El Paso was some new kid on the block.
		The company was founded in Texas in 1928 and stayed a local concern until
1947, when it laid out 700 miles of pipeline to deliver gas to California.
		It grew steadily from there until 1964, when the U.S. Supreme Court decided
El Paso was getting too big and ordered it to divest its pipeline holdings in
the Northwest. That set off a long tumble that William Wise, who had started
at the company as a general counsel in 1970, set out to reverse when he took
over as president in 1989.
		Wise, a 56-year-old whose lean build reflects both his passion for running
and his reputation for driving himself hard, is a rare bird in the world of
oil.
		The University of Colorado law school graduate has mastered both the legal
side of his "litigious" industry, as he once called it, and its hardball
economic strategies -- skills he honed by surfing the bust-boom cycles of his
business at its epicenter, Texas.
		Those skills came in handy when El Paso got the hammer blow from PG&E in 1996
and 1997.
		PG&E had been buying extra space on pipelines crossing into the state at the
Arizona ghost town of Topock -- enough to import a whopping 1.1 billion cubic
feet of natural gas a day.
		The trouble for El Paso was that when PG&E dropped the contract for the
pipeline space, $170 million of the company's annual revenue was erased.
		"It seemed like everyone thought the company was toast," said Wu, the former
El Paso manager. "Of course, California didn't care at all."
		But Patrick Power, the attorney hired by El Paso to plead the pipeline
company's case before the state Public Utilities Commission back in 1996,
could see trouble looming for the state.
		If PG&E and other utilities didn't keep the pipeline capacity to meet future
needs, he warned, they would probably regret it later. His words fell on deaf
ears.
		"The mentality at the PUC, PG&E and Southern California Gas was, 'This will
be El Paso's problem,' " Power said. -- -- --
		Wise reacted to the loss of the PG&E contract by taking no salary himself for
a year and freezing his executives' pay, Wu said. While laying off more than
one-third of the company's workers, he and his staff negotiated a hefty
settlement from PG&E and other companies in exchange for their having dropped
the pipeline space.
		Then Wise set off on a plan to absorb other pipeline companies so he could
expand his system of delivering natural gas throughout the United States.
		"Bill Wise knew California had turned its back on the company, so he had to
get creative," Wu said of Wise, who has declined interview requests from The
Chronicle.
		"Attorneys generally don't have a lot of common sense in my mind, but Bill -
- he's got extra," said former El Paso Mayor Larry Francis. "He cuts his
losses in a hurry, and he recognizes when he has to move on. And so he
moved."
		Within a few years, Wise stretched the now Houston-based company to full
"wellhead to wire" operations, running everything from natural gas drilling
to electric generation plants. Before El Paso embarked on this expansion,
California constituted fully two-thirds of El Paso's natural gas sales --
much of that to PG&E.
		The strategy was that if the state was going to ditch El Paso, El Paso would
make sure its reach became so extended in other directions that it would
never be dependent on one market again.
		Wise's company scooped up interests in 40 electric power plants in 11 states
by April 2000. Along the way, it spent billions acquiring enough pipeline
companies to spread the El Paso reach along 58,000 miles of pipe nationwide,
from Bakersfield to Boston.
		"The company was a very traditional gas company until then," said Fred
Pickel, a Los Angeles energy consultant who has observed El Paso since the
1970s. "Wise, though, understands the street-level complexities of the
business, and what he had the company do was partly smart and partly logic.
		"He was just able to see the possibilities that nobody here in California was
able to see."
		But some believe that what El Paso did to take advantage of those
possibilities took unfair advantage of California.
		In his cluttered downtown San Francisco office at the PUC, staff attorney
Harvey Morris thought he "smelled a rat" as long as three years ago.
		Morris, a natty 47-year-old graduate of Boalt Hall School of Law, takes on
the look of a determined terrier when he outlines his suspicions about El
Paso -- and he's been carrying that look a long time now.
		After losing PG&E, El Paso leased the utility's entire block of pipeline
capacity to another Texas gas and electricity giant, Dynegy. Gas experts were
stunned that one firm would bid for all that space -- but they, and Morris,
were even more surprised by what followed.
		Dynegy didn't behave the way PG&E and California officials had expected
energy companies to behave in the era of deregulation.
		Like PG&E, Dynegy didn't need all that pipeline space to serve its own
customers. But unlike what PG&E did when confronted with all that extra
space, Dynegy didn't resell it at a huge discount. In fact, Dynegy didn't
sell any of the space. Instead, it raised the price so high that seemingly
nobody wanted to buy it.
		Competing gas marketers were alarmed. They suspected that Dynegy was
collaborating with El Paso to constrict the supply of gas flowing into
California so prices would rise. Great for anyone with space reserved on the
pipeline -- but disastrous for those left out in the cold.
		In 1998, having convinced his bosses at the PUC that what El Paso was doing
on the Dynegy contract was anticompetitive, Morris filed the first of many
complaints with the Federal Energy Regulatory Commission. He's still pursuing
them.
		As it turned out, spot prices didn't rise while Dynegy held the contract; gas
shippers could still find space on other pipelines for less money. Dynegy let
the contract lapse in late 1999.
		Not long afterward, the pipeline contract wound up with El Paso's market
affiliate, El Paso Merchant Energy. And that's when things started to get
really serious, Morris says.
		El Paso's own marketing arm now controlled more pipeline space heading into
Southern California than any other trader by far -- just as the demand for
gas was about to soar.
		In his many filings, in which the PUC has been joined by Southern California
Edison and others, Morris contends that El Paso Merchant Energy prevented
pipeline space from being used.
		"They basically kept so much of the capacity to themselves, the prices went
through the roof," he said. "It was the same as closing off part of the
pipeline."
		El Paso officials, for their part, say market rates started soaring in 2000
simply because the demand for gas overwhelmed supply. They say they never
charged more than what industry rules allowed, and that attempts to prove
otherwise are preposterous.
		And thus far, except for a mild rebuke here and there on technicalities, the
free-market-minded Federal Energy Regulatory Commission has not concluded the
company did anything wrong -- though a commission hearing is set for tomorrow
on the latest allegations filed by PG&E, Edison and the PUC.
		Edison estimates that El Paso's "manipulation" at Topock jacked up rates all
over the industry so badly that state gas buyers had to pay $3.8 billion more
than they should have just in the past year.
		Whatever the reason, the bottom line is that gas prices in California have
been anywhere from two to 10 times as expensive as on the other side of the
border in Arizona, and in almost every other state.
		Once prices started to rise at Topock, gas marketers throughout California
followed suit -- and the ripple spread quickly.
		Gas prices for consumers started going up. The rise also propelled
electricity costs skyward, because three out of every five electricity plants
in California run on natural gas.
		The firms that own those plants then jacked up electricity prices to the
utilities, like PG&E, which had shed many of their own plants as part of
deregulation.
		The problem for PG&E and other utilities is that they couldn't pass those
higher electricity costs on to their customers, because electricity rates
were still regulated.
		So the red ink started to gush, in the hundreds of millions of dollars. And,
		with gas prices still higher here than anywhere else, it is still gushing.
		But not for El Paso. -- -- --
		El Paso Energy rose from its financial emergency in 1996 to become not just a
survivor, but a $50 billion behemoth involved in virtually every aspect of
the energy industry in California and much of the rest of the United States.
		The company, renamed El Paso Corp. this February, is now practically printing
money. The company's revenue shot from $1 billion in 1995 to $22 billion last
year; its profit last year alone was $652 million, its highest ever. Wise's
compensation package reportedly totaled $20 million.
		And it's not just with gas that El Paso is making its money. Among its
holdings are 19 small power plants serving PG&E and Southern California
Edison.
		Under El Paso's contracts, the price of that electricity automatically rises
when the price of gas rises. That's true even at the power plants that don't
use any natural gas.
		All told, in just a bit more than one year alone, consultants for Edison say
El Paso earned an extra $85 million thanks to electricity produced by those
plants.
		And all this is blossoming for El Paso while PG&E wallows in bankruptcy
court, billions of dollars in debt with no relief in sight.
		The one cloud on El Paso's horizon: A host of California legislators,
industry experts and state regulators suspect that El Paso's sunny profit
picture owes a lot to what happened with that huge block of space on El
Paso's natural gas pipeline that PG&E had been so happy to surrender.
		The hearing before federal regulators is looming tomorrow, and just last
month the state Assembly Subcommittee on Energy Oversight dragged three top
El Paso executives -- but not Wise -- to Sacramento to testify on the matter.
		It was the first time the company has ever felt such heat in this state. And
though the executives grimly waved off reporters' questions as they strode
from the room, company spokeswoman Norma Dunn stayed behind to insist that
the accusations will blow over, "because there's nothing to them.
		"The thing to remember is that we have been in this state for more than 50
years, and we want to continue being here," Dunn said. "We take this matter
very seriously. . . . We want to be cooperative."
		Accusations that El Paso caused price spikes by maneuvering to hold pipeline
space hostage amount to "nothing but conspiracy theories," she said.
		The Assembly panel, however, concluded that both El Paso and Dynegy had
manipulated the market at an enormous cost to California consumers.
		"The numbers tell the truth," the subcommittee said in a report obtained by
The Chronicle. "The exorbitant prices cannot be defined away by regulators
and bureaucrats, or explained away by corporate lawyers' wordplay." The
report was produced by three Assembly Democrats and two Republicans.
		Wise, when he addresses the accusations, says he is mystified why state
lawmakers are mad. He points to company plans to expand pipelines heading
here and to even build a power plant at San Francisco International Airport.
		When it comes to California, "El Paso has always tried to be a part of the
solution, not the problem," he told a gas industry newsletter in December.
		State lawmakers' attempts to pry extensive hard numbers from El Paso have
been met with resistance from the company, which calls them proprietary
information. And judging by Morris' experience, chasing El Paso to the ground
may take the Legislature quite a while, if that's what it decides it wants to
do.
		Morris found that as he filed complaint after complaint against the company,
the Federal Energy Regulatory Commission would either rule against the PUC or
put the filings off so long that they were moot when they came up.
		The Assembly subcommittee's report was scathing in regard to the commission,
		saying its approval of El Paso pipeline contracts "raises serious questions
about whether it met its statutory duty under the federal Natural Gas Act to
protect consumers from unjust and unreasonable rates."
		The commission did not send anyone to the Assembly hearings and has refused
to comment on its rulings.
		By the time the El Paso Merchant Energy contract expires May 31, opening the
crucial block of pipeline capacity to what critics say is true competition
for the first time in more than three years, it will be far too late, Morris
said.
		"The damage was done long ago," Morris said. The state and its utilities are
on the hook for billions in debt, money for last winter's bills has already
left consumers' pockets -- and regulators fear prices are unlikely to come
down soon.
		"The market got set, and now we're in trouble," Morris said. -- -- --
		PG&E, for its part, sees the whole mess through the eyes of a victim.
		The utility had paid $560 million to hold its excess El Paso capacity from
1993 to 1997, and the PUC had forbidden the company to recover $167 million
of that through customer rates. And in 1996, the PUC and ratepayers were
clamoring for lower power bills, and there was a huge amount of pipeline
space in the state that wasn't being used.
		So when you're trying to cut costs, what better to cut than something you
don't need? said Dan Thomas, PG&E's director of gas transmission.
		"I still think it was the right decision to relinquish the capacity," he
said.
		Still, there's no denying the numbers. At latest count, PG&E owed El Paso
more than $150 million for gas and electricity.
		As Morris sees it, El Paso is "this big, 800-pound gorilla at the border and
can limit supplies as they wish. It's outrageous, and there wasn't a thing
anybody could do to stop them."
		El Paso officials, of course, put it differently.
		"All we did was good business, smart business, and people keep dishing dirt
about us, but we just don't see ourselves in it," company spokesman Mel Scott
said.
		"It's pretty obvious to the analysts and to us that California set up this
faulty deregulation system, and if (PG&E and Southern California utilities)
had been in their right minds and signed up for long-term natural gas
contracts back in 1996 and 1997, they wouldn't be in this trouble."
		Nobody official at El Paso is publicly gloating, but pleasure over the turn
of events is never far from the surface. Those who can speak more freely
don't mind putting the boot in a bit.
		"Everything bad that's happening right now (in the pipeline fight) could have
been prevented if PG&E just hadn't gotten rid of that contract back then, "
Wu said. "But I have yet to hear anyone in this state say that.
		"In fact, I have yet to hear anyone even at PG&E say that, and that's sad."
		What it all comes down to is this: El Paso figured out how to play
California's energy game better than California.
		"Those laws your boys passed there in California -- well, they just left you
wide open to anyone who wanted to make an enormous profit," said Tom "Smitty"
Smith, director of the Austin headquarters of Public Citizen, a consumer
rights group.
		"You can't fault the horse for eating hay when you lead it to the barn and
put the bale right in front of its face, now can you?"
California's 'energy island'
		There are just four points at the border where natural gas comes into
energy-starved California. The main one, owned by El Paso, is at the Colorado
River. The pipelines originate in the Southwest. They wind 1,000 miles
through several states to pop up right where Route 66 used to cut over the
Colorado River on its famous arched steel bridge. Today two of El Paso's
pipelines are all that use the old bridge.

Kenneth Shulklapper
Media Risk Management
Enron Media Services
(713) 853-7009 (phone)
(713) 646-8436 (fax)


I just reviewed a vacation report that covers vacation up through 8/15/01.

	There are still a lot of people with a large amount of vacation.  I made an assumption
	everyone is carrying over 40 hours (which is the max) to 2002.  There was still a lot
	of vacation to be taken.

	I would like to meet with a member from each team Friday, September 14, at 2:00
	to review your teams schedule for the rest of the year.  We can meet in my office.

	Thanks. Lynn


yo bro.  this is my new email address.  save it.
Aggie_chic02@hotmail.com.
Love you, lacy
______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com


Jodi and Gaylen,

Please see the list below.  Would you please look at what timeframe you could get the equipment listed below.  Our preliminary investigation suggests that we may not be able to obtain the equipment quick enough to meet a May in-service date.  If your engineering department has any questions about this list, please feel free to have them call Earl Chanley at the number below.  And, of course, if you have any questions of me, please feel free to call me at (713) 853-3098.

Thanks, Kim.

 -----Original Message-----
From: 	Chanley, Earl
Sent:	Thursday, February 07, 2002 3:37 PM
To:	Watson, Kimberly
Cc:	Abdmoulaie, Mansoor; Spalding, Norm
Subject:	Questar Materials

Kim

In a effort to expedite the materials for Questar I/C, can Questar look at what their time frame for getting the following material is to see if it would assist in getting the interconnect in service sooner.
If they have any questions on material, have them call me.

1) 10" UltraSonic meter with Gallagher flow conditioner, tubes and calibrated. flow one direction.
2) Denials single stream chromatograph, Model 2350, with test gas, Heater box for test gas, and controls.
3) Bristol 3330 EFM with panel box std.
4) MECO H20 Monitor
5) Building with heat/ac, general gas monitor, breaker with shunt, prewired. 10X10 Explosion proof
6) 12" full opening W X W hot tap valve 600# - Cooper valves are preferred vendor by material management on all valves.
7) 3 - 8" full opening ball valves 600#
8) 2 - 10" full opening ball valves with operators 600#
9) Rosemont's smart transmitters for pressure, diff and temp.
10) 8" Becker flow control valve 600#
We are checking delivery on the items currently, but if they can expiate, it would help.

Thanks
Earl Chanley
505-625-8031


The attached reflect Marketing's request to have interest, overheads, and AFUDC split out for all line items.  The revision also includes recent additional input by Engineering.  If you have any question, please call.

Ron M.


Entergy has joined the SE Trans RTO (Southern, etal).  I will review the FERC filing; however, an Entergy rep called me today to ask for Enron's support stating that the new RTO proposal includes:

-- Independent Market Operator (he said such as PJM)
-- No Day Ahead Balanced Schedules
-- LMP
-- One OASIS and one Tariff (no separate tariff for Entergy's ITC)
-- One Security Coordinator
-- Initial license plate rate within Entergy area
-- local planning in Entergy footprint

He also said that they are trying to have the GridSouth group agree to use the same Independent Market Operator so there would be one market structure for the Southeast.

Hopefully, the filing reflects this -- more later.  Christi

-----Original Message-----
From: Connor, Joe
Sent: Monday, November 26, 2001 1:51 PM
To: Nicolay, Christi L.
Cc: Staines, Dan; Nord, Sue; Robinson, Marchris
Subject: SeTrans Update

Attached is an announcement on SeTrans adding Entergy as a member and setting dates for meeting in Atlanta in Jan. 2002 to form stakeholder group.  I haven't seen the update they provided to FERC.  I'll find it and get you a copy.


This will be fine


This is the wording required for employment contracts for Canada which resolves the tax issue.  Please discuss and include with Buyers

Thanks
 -----Original Message-----
From: 	Cappelletto, Nella   On Behalf Of Milnthorp, Rob
Sent:	Wednesday, December 19, 2001 1:49 PM
To:	Kitchen, Louise
Cc:	Keohane, Peter; 'wys@blakes.com'
Subject:	Rider
Importance:	High

Please see the attached memo.

Regards, Rob


I'm not sure why this came to me, but I thought I would share it anyway.
---------------------- Forwarded by Kay Mann/Corp/Enron on 07/24/2000 01:52
PM ---------------------------

"Carmen Halsell" <CHalsell@winston.com> on 07/20/2000 06:22:06 PM
To: <robtaylor@andrews-kurth.com>, <kay.mann@enron.com>,
<lisa.bills@enron.com>, <rengeld@enron.com>, <frederik_aldin@westlb.com>
cc:

Subject: Sections 7.2(f) and 8.4 of GenPower and Mitsubishi ADAs

Pursuant to the request of Fred Aldin, attached are marked copies of
both the GenPower ADA and the Mitsubishi ADA showing the changes to
Sections 7.2(f) and 8.4.

 - Mitsubishi ADA2.doc
 - GenPower ADA2.doc
 - Mitsubishi ADA1.doc
 - GenPower ADA1.doc


1 Cindy Skinner
2 Chonawee
3 Martin
4 Praveen
5 Lawyer
6
--------------------------vince kaminski


Richard,

After going throught the numbers on this peaker. I can only pay 4-5 cents for
a 10 day peaker at Chicago. That would be a net payment to you of
$604,000.

You are giving me 6.6% of the underlying days and I will pay 10% of the
underlying price to get the optionality.  As a relative value NYZ6 or Socal
is worth much more.  Alliance seems to have taken all of the strong interest
out of this market. Hunter won't pay any additional premium as Chicago is too
liquid physically to justify a premium for the molecules.

Call me to go over the numbers if you want

Pete


Please remember that timecards are due today (1/16) no later than 3pm.
Don't forget to code Jan. 1st as a Company Observed Holiday.

Sonia Hennessy
Enron Networks
Phone# 713-345-4858
Fax# 713-646-2443
Location:  EB3103g
sonia.hennessy@enron.com


Mark,

A reminder to forward Dave Matson and Rich Simon the May Curtailment
information in a format similar to Feb 02.

If you fill out the request and forward to Julie she can put a # on it.  I'm
not sure if there was already a WR for this, but if not and we do additional
work this new one could cover that work.

JD


This call has been changed to 3 pm (Houston time) which is 5 pm (Sao Paulo
time).  Please let me know if you would like for me to conference you in.
Sara


Thanks for the memo.

Regards,

Mark


Steve,
In addition to Eric's questions below, I have an even more fundamental question, are the two scenarios (3 frame 6's, 2 frame 7's) additive or cummulative?  In other words, are we looking at planning on 130,000 lb/hr or 190,000 lb/hr?  Obviously, all these considerations make a difference in terms of design/cost.

---------------------- Forwarded by Jeffery Fawcett/ET&S/Enron on 02/02/2001 11:09 AM ---------------------------

	Eric Faucheaux 02/02/2001 10:53 AM

To:	Jeffery Fawcett/ET&S/Enron@ENRON
cc:

Subject:	Belen NM - Cogeneration

Regarding the information that was provided from Steve Rutherford/API, please answer or have answered the following questions that are presented below:

RE: Maximum pressure and volume ".... initially 3xGE 6B - 60,000 lb/h (aprx. =31MMcfd) @ 350 psig."
-  is 60,000 lb/h for each unit or times 3 for total of 180,000 lb/h?
-  is 60,000 lb/h rate the sum of 3 GE 6B volumes and is this maximum the hourly rate not a sum divided by 24 hr?
-  what is minimum turndown flow rate?

RE: Maximum pressure and volume ".... future possible 2xGE 7FA - 130,000 lb/h (aprx. =68MMcfd) @ 500 psig."
-  is the 130,000 lb/h incremental to the 60,000 lb/hr for 3xGE6B or is 130,000lb/hr the new total?
-  is 130,000 lb/h for each unit  or times 2 for total of 260,000 lb/h?
-  is 130,000 lb/h rate the sum of 2 GE 7FA volumes and is this maximum the hourly rate not a sum divided by 24 hr?
-  what is minimum turndown flow rate?


Cas:
See you at 9.  Lisa and I have been dealing with a ratings protest all week.
I'll fill you in tomorrow.  Looks like I have to decide between playing on
either our Sunday night team or our Tuesday night team!

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"Moll, Cas" <CMoll@loomisfargo.com>
	06/08/2001 11:16 AM

		 To: "'Carol St. Clair'" <carol.st.clair@enron.com>, "'Christie Black'"
<christines.black@energizer.com>
		 cc:
		 Subject: Tennis Sat

Hopefully the weather will be kind to us.? Don't remember if I  mentioned
but we are starting at 9:00 am Court 4  (not 930am).
?
See ya,
?

Cas Moll
Tel:713-435-6704
Fax: 713-435-6905
Email:? cmoll@loomisfargo.com
?


Mark

This memo was sent to the Executive Committee, all ENA VPs and all ENA
lawyers.

Thanks

Elizabeth
36349


Start Date: 10/22/01; HourAhead hour: 1;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

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Are you inviting your woman to this?  I may need to extend an invitation to
Ingrid.

---------------------- Forwarded by Chris Germany/HOU/ECT on 06/19/2000 10:34
AM ---------------------------

Joan Veselack@ENRON
06/12/2000 11:43 AM
To: bkadams@ceg.com, Robert Bailey/GCO/Enron, briant.baker@enron.com,
Charles_Ballmer@enron.com @ INTERNET, jbarker@enron.com,
bartlon@epenergy.com, tbowen@enron.com, mbray@energystorehouse.com,
marty.brinkman@dhcmail.com, cburnette@columbiaenergy.com,
hchoate@ect.enron.com @ INTERNET, "Frnka D (Dawn)" <DFrnka@equiva.com>,
rdempsey@energyusa.com, paul.drexelius@cinergy.com,
matthew_b_fleming@ees.enron.com, kgarde@mjksales.com, mgarred@enron.com,
jhamilton@tmh.tmc.edu, jillk@wjet.com @ INTERNET, blarnich@aol,
mckolosseus@dow.com, scott.kraynak@mwk.com, LANDRYC@GGC.COM,
lennon@sugar-land.dowell.slb.com, smcarthur@welcom.com, mccuenk@epenergy.com,
eric.mcmurry@engageenergy.com, maluis@equiva.com, cybr@ti.com, "Ziba Mehra"
<zibam@theticketcompany.com>, clmiller@shellus.com,
mmoorehead@networkoil.com, "Morrissette, Vince" <MorrissetteV@EpEnergy.com>,
estate@infohwy.com, flyyfsher@aol.com, roupes@pge-energy.com,
Samandjulie855@cs.com, asayegh@enron.com, sascherwitz@dow.com,
carolyn_a_shelton@reliantenergy.com, jrs@shellus.com,
james.thompson@equistarchem.com, tudor@shellus.com, "Gloria Uria"
<guria@statoilenergy.com>, bvanderh@enron.com, aevigil@dow.com,
cawagner@shellus.com, kwilliams@columbiaenergygroup.com,
swilliams01@coral-energy.com, kolinge@enron.com, Joann
Collins/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT, Christina
Sanchez/Corp/Enron@ENRON, Sabra L Dinari/HOU/ECT@ECT, Joe A
Casas/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT,
vlamadr@enron.com, Steve Gillespie/Corp/Enron@ENRON, Jesse
Villarreal/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Clarissa
Garcia/HOU/ECT@ECT, Cindy Vachuska/HOU/ECT@ECT, Phillip
Villagomez/Corp/Enron@ENRON, Cynthia Franklin/Corp/Enron@ENRON, Meredith
Mitchell/HOU/ECT@ECT, Beverly Beaty/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT,
Alvin Thompson/Corp/Enron@Enron, Molly Johnson/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Chris Germany/HOU/ECT@ECT, Judy
Townsend/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, Tammi DePaolis/Corp/Enron@ENRON,
Jared Kaiser/HOU/ECT@ECT, Susan W Pereira/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT,
Robin Barbe/HOU/ECT@ECT, Maureen Smith/HOU/ECT@ECT, Scott
Hendrickson/HOU/ECT@ECT, Sarah Mulholland/HOU/ECT@ECT, Sandra F
Brawner/HOU/ECT@ECT, Kate Fraser/HOU/ECT@ECT, Morgan Sharifi/CES/ColumbiaGas,
Darren Espey/Corp/Enron@ENRON, Cora Pendergrass/Corp/Enron@ENRON, Mark L
Schrab/HOU/ECT@ECT, Jacqueline P Adams/HOU/ECT@ECT, Alex Saldana/HOU/ECT@ECT,
Ami Chokshi/Corp/Enron@ENRON, Janet Edwards/Corp/Enron@ENRON,
maluis@equiva.com, Jennifer Shipos/HOU/ECT@ECT, Anita K Patton/HOU/ECT@ECT,
ofarrsc@texaco.com, Shawna Johnson/Corp/Enron@ENRON
cc:
Subject: ICE LUGE PARTY - IT'S FINALLY HERE

Last summer my pool was being renovated... and no ice luge... but it's
back!!! Just in time to celebrate Summer 2000.

WHEN:  Saturday, June 24th, 8 pm to Midnight (yes... ends at midnight... pool
rules)

WHERE: Joni's Pool at 1100 Augusta Drive, Woods on Augusta (directions below)

WHAT:  Ice Luge (bring your favorite shots in plastic containers... glass not
allowed in the pool area)
  Kegs of Shiner and Bud Light (if don't like... tough.... bring your own)
  Snacks will be provided

BRING:  Swim Suit and Towel for Hot Tub and Pool (okay.... your rubber ducky
too)

NEEDED: Tunes... I have a radio/CD player.... but no CD's.... who wants to be
D.J.???

DIRECTIONS:

From I-10:  Exit south on Chimney Rock. Pass Memorial and Woodway. First
light after Woodway is Sugar Hill. Turn west (right) on Sugar Hill. Pass
Bering. Pass Kelsey Seybold on the left. Next Stop Sign is Augusta. My
Complex is "Woods on Augusta" on the southwest corner of Sugar Hill and
Augusta. Please park outside the complex. Walk-in gates on Augusta and Sugar
Hill. My Apartment is #33. We will be at the pool, in the middle of the
complex... just follow the noise.

From 59: Exit north on Chimney Rock. Pass Richmond, Westheimer, and San
Felipe. First light after San Felipe is Sugar Hill. Turn west (left) on Sugar
Hill. Pass Bering. Pass Kelsey Seybold on the left. Next Stop Sign is
Augusta. My Complex is "Woods on Augusta" on the southwest corner of Sugar
Hill and Augusta. Please park outside the complex. Walk-in gates on Augusta
and Sugar Hill. My Apartment is #33. We will be at the pool, in the middle of
the complex... just follow the noise.

From 610: Exit east on Woodway (outside the loop). Pass Post Oak and Sage. At
Chimney Rock turn south (left). First light on Chimney Rock is Sugar Hill.
Turn west (right) on Sugar Hill. Pass Bering. Pass Kelsey Seybold on the
left. Next Stop Sign is Augusta. My Complex is "Woods on Augusta" on the
southwest corner of Sugar Hill and Augusta. Please park outside the complex.
Walk-in gates on Augusta and Sugar Hill. My Apartment is #33. We will be at
the pool, in the middle of the complex... just follow the noise.

If I left someone out... it was unintentional!!

Please pass the invite to mutual friends. Because of limited accommodations,
please don't invite all of Houston!!!


Dear Power Outage Database Customer,

Attached you will find an excel document. The outage contained within is
a forced outage. Your daily delivery will still contain this outage.
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.

 - 101101U.xls
 - OUTAGE.dbf


John,

Are you ready to learn your first control function.  The controls group is going to let us set up the new books we need for Netco today.  When you are ready let me know and we'll go down there, or they will come up here or whatever.

Kam


Jason,

There was a problem with the request. I could not approve it (the system would
not let me do it). There must have been a  mistake in the way it was
submitted).
Please, ask Shirley to resubmit.

Vince

	From:  Jason Sokolov                           01/28/2000 08:51 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Additional Bloomberg terminal for weather group on 31st floor

Vince,

A few weeks ago we talked about installing an additional Bloomberg terminal
on the 31st floor for Mike's weather team.
 I have submitted a security request, and we are now waiting for your
approval.
Could you, please, go over that request and give Mike Roberts and me your
feedback?

Jason Sokolov


Attached please a write up of the transactions/dispositions currently underway that may require consent for completion from Dynegy or, in some cases, consent for continuing discussions. All of these are very urgent as they give the possibility to raise cash - please call me to discuss (01144 7887 660 817) if you have any questions.
Thanks, Marcus


Market East needs to recognize $24,200 of Middle Market -East Originations
granted by the Pipe Options book.

Thanks,
Robin


---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 02/23/2000
08:17 AM ---------------------------

Clement Lau
02/17/2000 03:33 PM
To: Mathew Gimble/HOU/ECT@ECT, Doug Sewell/HOU/ECT@ECT, Benjamin
Rogers/HOU/ECT@ECT
cc:
Subject: Presentation

When you have time, please help provide feedback on the presentation. Thanks.


Pete,

I have a question.  Is it necessary for the amount of consideration to be
listed in the final lien form (exhibit R or S, something like that)?  If so,
what amount goes in there?  Will this defeat what we are trying to do in
keeping the original price a supposed mystery?

Thanks,

Kay


Attached is a clean and a blacklined draft of the BETA.  This draft was
created using the new BETA form, and the blackline compares this draft
against the form.  I have also attached a blackline from the intial draft we
sent counterparty to the draft we are sending counterparty now, in case you
want to show them all the changes from that draft.  That blackline is called
prebon.red below.


Good Morning,

Mike Purcell has accepted a position in the Volume Management group and will
be joining that team effective April 23rd.

Mike has worked on the Preschedule desk for over a year scheduling the
Northwest, and has done a fine job representing Enron to our counterparties.
His technical ability and grace under pressure will be missed as we roll into
the summer months!

Please join me in wishing Mike well in his new position.

Cara


<<5-21-01.pdf>>
Richard Costigan, III
Chief of Staff
Office of the Assembly Republican Leader
California State Assembly
Phone:(916) 319-2005

 - 5-21-01.pdf


Thought you'd like this one...

---------------------- Forwarded by Susan M Scott/HOU/ECT on 11/20/2000 10:50
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Travis David Kelley" <tdkelley@ev1.net>
11/15/2000 09:54 PM

Please respond to "Travis David Kelley" <tdkelley@ev1.net>
To: <Susan.M.Scott@enron.com>, "Chuck Scott" <cscott_korea@yahoo.com>
cc:
Subject: Fw: Priceless

?
----- Original Message -----
From: Michelle Eppright
To: RUSS EPPRIGHT ; Russell  Eppright ; MARGARET LAYCOCK ; LIBBA ; KATHY &
TRAVIS KELLEY ; ANITA CUNNINGHAM ;  AMY KOPP ; CINDY  PRICE
Sent: Tuesday, November 14, 2000 3:28 PM
Subject: Fw: Priceless

?
 - Priceless.jpg


Hello,

Please let me know any time that you may be out of the office for the months of November
and December.  Please respond by Monday, the 29th.

Thanks,
Brandee Jackson
713-345-4013


PSE&G just called and want to trade natural gas online and want to make sure
that they can trade it under the GISB.  They want to amend the ETA to that
effect.  I'm not sure how we want to handle this.  Get Stacy/Jeff's approval
that their gas trades can go under the GISB, and then amend the ETA?  The
woman who called is Denise Pocius at (973) 430-8181.


T O D A Y    G O D    I S    F I R S T
Marketplace Meditations
by Os Hillman

The Door of Full Surrender

But He knows the way that I take; when He has tested me, I will
come forth as gold.
- (Job 23:10)

I was recently sitting with the leader of a marketplace
organization as he described a question he poses to
businesspeople. "What if there were two doors to choose from;
behind one door was the complete will of God for your life and
behind the other door was how life could be according to your own
preference. Which door would you choose?" The struggle for most
lies in the desire to follow God completely and the fear of what
might be behind the door of full surrender. Most of us desire to
follow God, but few of us will do it at any cost. We do not
really believe that God loves us to the degree that we are
willing to give Him complete permission to do as He wills in us.

If we desire to fully walk with Christ, there is a cost. We may
give intellectual assent and go along with His principles and do
fine; however, if we are fully given over to Him and His will for
our life, it will be a life that will have adversity. The Bible
is clear that humans do not achieve greatness without having
their sinful will broken. This process is designed to create a
nature change in each of us, not just a habit change. The Bible
calls it circumcision. Circumcision is painful, bloody, and
personal.

If God has plans to greatly use you in the lives of others, you
can expect your trials to be even greater than those of others.
Why? Because, like Joseph who went through greater trials than
most patriarchs, your calling may have such responsibility that
God cannot afford to entrust it to you without ensuring your
complete faithfulness to the call. He has much invested in you on
behalf of others. He may want to speak through your life to a
greater degree than through another. The events of your life
would become the frame for the message He wants to speak through
you.

Do not fear the path that God may lead you on. Embrace it. For
God may bring you down a path in your life to ensure the reward
of your inheritance. "For our light and momentary troubles are
achieving for us an eternal glory that far outweighs them all" (2
Cor. 4:17).

-----------
This daily devotional is published and distributed by
Crosswalk.com.  It is written by Os Hillman, president of
Marketplace Leaders, located in Atlanta, GA.  His email address
is <os@marketplaceleaders.org>.  For more articles and books
by Os Hillman you may visit his web site at
http://www.marketplaceleaders.org.

Additional devotionals are available from Crosswalk.com:
<http://devotionals.crosswalk.com>
-----------
To read the Current Feature Story from ReligionToday,
go to http://religiontoday.crosswalk.com/CurrentFeatureStory/

For today's complete News Summary from ReligionToday,
go to http://religiontoday.crosswalk.com/CurrentNewsSummary/

-----------
For Copyright Terms go to http://www.crosswalk.com/info/copyright

____________________SUBSCRIPTION INFO_______________________

* You subscribed to Marketplace Meditations as:
< jeff.king@enron.com >
* To unsubscribe from this newsletter immediately, click here:
< http://link.crosswalk.com/UM/U.ASP?A3.12.261895 >
If that link is not clickable, simply copy and paste it into
your browser window.
* To change your address:  unsubscribe your old address
and then subscribe your new address.
* To subscribe, send an email to:
< SUBSCRIBE-marketplace@lists.crosswalk.com > or go to
< http://www.crosswalk.com/lists > for a complete list of
our newsletters.
* Copyright , 2001 Crosswalk.com, Inc. and its Content
Providers. All rights reserved.

____________________________________________________________


Congratulations on your promotion.  You deserve it!!!!

Kay


Welcome to the New Year! This week, we discuss
reviewing your finances to ensure that you will
achieve your targets, and what to do if you are going
to come up short. Also this week, lowering the risk of
bond investing.

***************************************************************
You are receiving this mail because you have registered for
Multex Investor. To unsubscribe, see bottom of this message.
***************************************************************

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==============================================================

Below
---------

- Investment ideas
- Personal finance
- Monthly matters
- Fund watch
- Online advice and chats
- Free and sponsored reports

Investment ideas
-----------------------------------------

1. INVESTMENT IDEAS
Analysts predict solid 2002 for cable TV stocks
Consolidation and EBITDA growth will be the year's major themes

by John Filar Atwood, equity research columnist

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Analysts are projecting a strong year for cable companies, predicting
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WORD FROM OUR SPONSOR
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Personal finance
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1. Retirement on MultexPF

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New Year's resolutions

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Monthly matters
-----------------------------------------

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

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click here:
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I would like to see the resumes.


Please click on the link below

SAVE THE DATE


---------------------- Forwarded by Mike Grigsby/HOU/ECT on 04/05/2001 10:05
PM ---------------------------

"mike" <mgrigsby@swbell.net>@sfgate.com> on 04/05/2001 10:12:00 PM
Sent by: <nobody@sfgate.com>
To: "Mike" <mike.grigsby@enron.com>
cc:
Subject: SF Gate: Text of Gov. Gray Davis' energy speech

----------------------------------------------------------------------
This article was sent to you by someone who found it on SF Gate.
The original article can be found on SFGate.com here:
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/04/05/state2
108EDT0315.DTL
----------------------------------------------------------------------
Thursday, April 5, 2001 (AP)
Text of Gov. Gray Davis' energy speech
The Associated Press

   , , -- (04-05) 18:08 PDT Here is the text of Gov. Gray Davis' televised
speech on energy Thursday, as prepared for delivery:
   "Good evening. I'm speaking to you tonight from Sacramento on the most
difficult issue facing California: our energy crisis.
   "Simply stated, we have two problems: supply is too low and costs are too
high. Both result from the flawed deregulation scheme created in 1996. But
no matter how we got into this mess, you hired me to solve problems. And
that's what I'm doing.
   "The only long-term solution is to build more power plants. We must also
cut back on consumption and stabilize the utilities. But prices won't fall
and supply won't be truly reliable until we generate more power than we
consume.
   "Yet in the 12 years before I took office, not a single major power plant
was built in California. Not one. Since I became governor, we've licensed
12 major power plants. Ten more are in the pipeline. And we're doing this
without weakening our commitment to clean air and clean water.
   "Deregulation required the utilities to sell off many of their power
plants to independent generating companies. The generators are free to
charge whatever they want because they're governed only by federal
regulators who refuse to control wholesale energy prices.
   "This past winter, the prices charged by the generators shot through the
roof, driving the utilities to the brink of bankruptcy.
   "In January, with the feds still refusing to do their job, California
stepped in to purchase the power the utilities could no longer afford to
buy. We didn't take over to save the utilities. We took over to keep the
power on and the economy strong. That's not all:
   -- We also negotiated long-term contracts for electricity at vastly lower
prices.
   -- I used my emergency powers to seize control of low-cost power contracts
the utilities were about to forfeit to the generators.
   -- We began negotiations to buy the utilities' transmission system.
   -- We cut red tape and offered cash incentives to speed up construction of
power plants.
   -- We're launching an $800 million conservation program.
   -- We're moving to establish a public power authority to build more power.
If the private sector fails to build all the plants California needs,
we'll build them ourselves.
   -- And because I share your concern that the generators are ripping us
off, we're using every legal remedy to root out and punish illegal
conduct.
   "We can't fix 12 years of inaction overnight. But we're making real
progress.
   "Now, as you know, I have fought tooth and nail against raising rates.
It's become increasingly clear, however, that with rising natural gas
prices, the feds' failure to control costs, and the state's lack of
supply, that some rate increases are needed to keep our lights on and our
economy strong.
   "But I remain committed to protecting average Californians from massive
rate hikes. So I'm urging the Public Utilities Commission to adopt a plan
that will protect average consumers, reward those who conserve and
motivate the biggest users to cut back.
   "Under my proposal, more than half of you won't pay a penny more. For the
rest, the average increase will be 26 1/2 percent. For many of that group,
rates will rise only about 10 percent. The heaviest users will see their
rates rise 34 1/2 percent on average. That includes business paying their
share. This is in addition to the 9 percent surcharge we've all been
paying since last winter.
   "But all Californians can reduce their bills through conservation.
   "Here's the point: The more you use, the more you pay. The more you
conserve, the more you save. Conservation is our best short-term weapon
against blackouts and price-gouging. By flexing your power, you'll help
secure our energy future.
   "Unlike the PUC, my plan includes funds to restore the utilities to
financial stability -- if they agree to three main conditions:
   "They must provide low-cost regulated power to the state for 10 years.
Agree to sell us their transmission system. And dismiss their lawsuits
seeking to double your electricity rates.
   "My proposal raises rates fairly, assures us of long-term power,
stabilizes the utilities and promotes conservation.
   "Our emphasis on conservation is critical. In order to make it through the
summer, we must cut demand by at least 10 percent.
   "Already we've launched programs to cut back commercial lighting, and
reduce consumption in office buildings, schools and government facilities.
   "Friends, we have a power shortage but we are far from powerless. We are
34 million strong and if each of us does our part, we can minimize
disruptions and get through the summer. We are Californians. We've
withstood earthquakes, floods, fires, and droughts.
   "Yes, this mess is man-made, but with your help and God's blessing, we'll
get through this as well.
   "Thank you and good night."

----------------------------------------------------------------------
Copyright 2001 AP


https://taim.transmission.bpa.gov/cwi/tsched

userid :  enron5   pw Oregon123


---------------------- Forwarded by Rufino Doroteo/HOU/ECT on 04/21/2000
01:24 PM ---------------------------

	From:  Marilyn Rivera                           04/21/2000 01:17 PM

To: Rufino Doroteo/HOU/ECT@ECT, rebeccar@bcm.tmc.edu, mmartinez@tmh.tmc.edu
cc:
Subject: FW: (GAMES)

games
---------------------- Forwarded by Marilyn Rivera/HOU/ECT on 04/21/2000
01:15 PM ---------------------------

Joel Rivera <Joel.Rivera@Halliburton.com> on 04/21/2000 12:25:34 PM
To: "'Marilyn Rivera'" <Marilyn.Rivera@enron.com>
cc:
Subject: FW: (GAMES)

-----Original Message-----
From:?? Corey Boudreaux
Sent:?? Monday, April 17, 2000 3:41 PM
To:???? Joel Rivera
Subject:??????? FW: (GAMES)

-----Original Message-----
From:?? Paul Lightfoot
Sent:?? Monday, April 17, 2000 11:22 AM
To:???? Corey Boudreaux
Subject:??????? FW:

-----Original Message-----
From:?? Angela Willis
Sent:?? Tuesday, March 21, 2000 1:14 PM
To:???? Paul Lightfoot
Subject:??????? FW:

has some different ones

ANGELA
?angela.willis@halliburton.com?
? (713) 676-8572

-----Original Message-----
From:?? Linhoff, Connie S. @ Houston Galleria
[SMTP:clinhoff@cbrichardellis.com]
Sent:?? Tuesday, March 21, 2000 1:07 PM
To:???? 'Angie'
Subject:??????? FW:

-----Original Message-----
From:?? Kapalski, Stephen @ Houston Galleria
Sent:?? Tuesday, March 14, 2000 4:52 PM
To:???? Linhoff, Connie S. @ Houston Galleria
Subject:??????? FW:

-----Original Message-----
From:?? McClymonds, Reagan @ Houston Galleria
Sent:?? Tuesday, March 14, 2000 4:48 PM
To:???? Kapalski, Stephen @ Houston Galleria
Subject:???????

<<Airhock.exe>> <<Sticks.exe>> <<Sol.exe>> <<Same.exe>> <<Hangman1.exe>>
<<Jacks.exe>> <<Frogger.exe>> <<Blocks.exe>> <<Yacht1.exe>>

Reagan McClymonds
 <<Airhock.exe>>  <<Sticks.exe>>  <<Sol.exe>>  <<Same.exe>>
<<Hangman1.exe>>  <<Jacks.exe>>  <<Frogger.exe>>  <<Blocks.exe>>
<<Yacht1.exe>>

 - Airhock.exe
 - Sticks.exe
 - Sol.exe
 - Same.exe
 - Hangman1.exe
 - Jacks.exe
 - Frogger.exe
 - Blocks.exe
 - Yacht1.exe


See attached

From: Karen Denne/ENRON@enronXgate on 07/12/2001 08:33 PM

To: Jim Fallon/Enron Communications@Enron Communications, Ken Rice/Enron
Communications@Enron Communications

cc: Mark Palmer/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron, Kelly
Kimberly/Enron Communications@Enron Communications

Subject: EBS Article for eBiz

Jim and Ken --

Attached is an article for eBiz (our biweekly online newsletter), which we
are scheduled to launch at 7:30 a.m. Friday.  Kelly Kimberly has reviewed it,
but has asked that you view the article as well.  Since only EBS employees
received your memo about the restructuring -- and the rest of the employees
did not receive any communication -- it is extremely important to provide
information through this vehicle.

Please let me know of your approval or if you have any questions.

Thank you.
Karen
x39757


Paul- please find out  what you can from the DOJ. Thanks.
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 12/21/99
01:12 PM ---------------------------

"Tetrault, Charles D." <ctetrault@velaw.com> on 12/20/99 03:28:44 PM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: DOJ

Paul Yde  (EEE' dee) will call you within the hour.

Charles D. Tetrault
Vinson & Elkins L.L.P.
ctetrault@velaw.com
(202)-639-6551
(202)-639-6604 [fax]

 - att1.unk


SIVY ON STOCKS from money.com
December 4, 2000

=========================================
CHAT TONIGHT:
Monday, December 4 at 8pm ET, 5pm PT
Michael Sivy identifies sectors and stocks that
possess true value in a rocky market.
AOL users go to Keyword: Live
http://www.money.com/chat/
=========================================

Nasdaq crash victim

Applied Materials has fallen to fire-sale prices.

By Michael Sivy

The Dow may be down only 10 percent from its 52-week high, but the Nasdaq
is in the middle of a screaming bear market, down nearly 50 percent from
its high in March. Computer stocks have been among the hardest hit,
particularly PC makers: Compaq is down 34 percent from its peak, Dell is
off 68 percent and Gateway, 76 percent.

The weakness extends down the food chain. Intel, which counts on PC makers
for a large slice of its semiconductor sales, has lost 56 percent. And
Applied Materials [AMAT], the leading producer of semiconductor equipment,
is off 66 percent.

I don't believe that the outlook for these stocks is nearly as bleak as
their recent performance suggests. It's true that the crucial
fourth-quarter season isn't looking very bright. And the most pessimistic
analysts argue that PCs are becoming like television sets -- commodities
distinguished only by price. Without the ability to charge premium prices
for added bells and whistles, the thinking goes, already-thin profit
margins will deteriorate even more. But over the next five years, sales for
top companies in the PC sector are projected to grow 12 percent to 15
percent annually, and earnings could rise 16 percent to 20 percent or more.

The next few months may be trying, but they should offer investors great
long-term buying opportunities. And the best one, to my mind, figures to be
Applied Materials, which is capable of growing profits an average of 25
percent a year.

The stock's big drawback is its extraordinary volatility. Even when it
looks cheap, it's capable of falling further if the technology sector is
doing poorly. And since two-thirds of sales come from overseas, Applied
Materials is fully exposed to the vagaries of international economics, from
the weak euro to Asian financial problems. In fact, I've recommended the
stock several times before at higher prices, only to watch it go even lower.

At this point, however, I don't see how it could fall much more. Analysts
have reduced earnings estimates for the current fiscal year (ending Oct. 1,
2001) from $3.50 a share two months ago to as little as $2.10 today. But
even based on these reduced estimates, at $38.50 a share the stock is
trading at less than 19 times earnings, or just 0.8 times its long-term
growth rate.

Business conditions may well be tough through the first half of 2001, and
some analysts see the stock going as low as $33 or $34 before bottoming.
But business conditions should improve by the second half. Given that the
stock could easily trade at more than double today's price in a more
favorable market, the potential upside looks 10 times greater than the
downside.

###

Post your comments on Michael's column at:
http://www.money.com/depts/investing/sivy/index.html

To subscribe or unsubscribe to Sivy on Stocks, go to:
http://www.money.com/email/

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For the latest corporate earnings releases and online conference
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We may, from time to time, contact you with offers for Time Inc.
products and services which we think may be of interest to you.
If you would prefer us not to contact you in this manner, AND
YOU DID NOT INDICATE THIS PREFERENCE AT THE TIME YOU SIGNED UP
for the Sivy on Stocks online newsletter or any other Time Inc.
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Additionally, from time to time we may provide your e-mail
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newsletter or any other Time Inc. online newsletter, please let
us know by e-mailing us at <no_transfer@money.com>.


OK


NOW PLAYING IN A THEATER NEAR YOU!!!

 - grinch.jpg


Mark,

FYI. Any decisions regarding our involvement with
John?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
04:44 PM ---------------------------

"John McCormack" <jmccormack@sternstewart.com> on 03/19/2001 01:11:02 PM
To: <vince.j.kaminski@enron.com>
cc:
Subject: Journal of Applied Corporate Finance

Vince:

I hope you received the Winter issue of the JACF. Your article was great.
Many of the issues and themes raised in that piece can be expanded upon. The
same holds for the Round Table discussion which included Gene Humphrey.
Finally. I would love to get your assessment of the real option article I
wrote with Gordon Sick.

Best Regards,

John L. McCormack
SVP, Stern Stewart & Co.
212-261-0740

Note: The information contained in this message may be privileged and
confidential and protected from disclosure.  If the reader of this message is
not the intended recipient, or an employee or agent responsible for
delivering this message to the intended recipient, you are hereby notified
that any dissemination, distribution or copying of this communication is
strictly prohibited. If you have received this communication in error, please
notify us immediately by replying to the message and deleting it from your
computer.  Thank you.  Stern Stewart & Co.


Kim, Have you asked Brian to review it as well?  I think his input would be
valuable.  Michelle

	Kimberly Rizzi
	06/09/2000 02:37 PM

		 To: Bob Sparger/Corp/Enron@Enron, Michelle Cash/HOU/ECT@ECT
		 cc:
		 Subject: Needs Improvement Memo

Bob/Michelle,

This is a memo that has been proposed to be given to the employees who are
needs improvement to clarify their status and probabtionary situation.  Let
me know if wording changes need to be made.

Thanks,
Kim


FYI------Guadalupe had a plant go down today 2/27, and therefore had to get
some gas off Oasis, so they took all 40.0 from AEC back into the Aquila
Header, so I moved the deals to reflect this on WGR (Aquila Header ).
Guadalupe deals:  594527 & 578932.

They said there is a chance they will have to do it again tomorrow.

Let me know if you have any questions.

Mark


Today Enron and EDEN (an AES Co.) signed the ISDA Master Agreement and
immediately after executed the first financial power swap transaction with an
LDC.

Terms & Conditions:
Volume: 66 MWh (24 hours/day, 7 days /week)
Term: 1 year, starting February 1st 2000
Fixed Price: US$20.90/MWh
Floating Price Payer: Enron North America
Fixed Price Payer: Eden S.A.

Thanks, Rolo


what number are we on?
---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 09/12/2000 11:04
AM ---------------------------
From: Samantha Boyd@ENRON on 09/12/2000 10:39 AM
To: Andrea R Guillen/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Celeste
Cisneros/NA/Enron@Enron, David P Dupre/HOU/ECT@ECT, Derek
Bailey/Corp/Enron@Enron, Diane Anderson/NA/Enron@Enron, Gordon
Heaney/Corp/Enron@Enron, Janie Aguayo/HOU/ECT@ECT, Jarrod Cyprow/HOU/ECT@ECT,
Jefferson D Sorenson/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@Enron, Larry Joe
Hunter/HOU/ECT@ECT, Laurel Adams/HOU/ECT, Lesli Campbell/HOU/ECT, Scott
Tackett/Corp/Enron@Enron, Adnan Patel/Corp/Enron@Enron, Amber
Ebow/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Bill D Hare/HOU/ECT@ECT, Bridgette Anderson/Corp/Enron@Enron, Carrie
Southard/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT,
Dianne Seib/CAL/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT,
Karen Lambert/HOU/ECT, Leslie Reeves/HOU/ECT, Lynn E Shivers/HOU/ECT, Marilyn
Colbert/HOU/ECT, Stacey Richardson/HOU/ECT, Brent Hendry/NA/Enron@Enron,
Carol St Clair/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT,
Robert Bruce/NA/Enron@Enron, Samantha Boyd/NA/Enron@Enron, Sara
Shackleton/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Stephanie
Panus/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Brad
Schneider/Corp/Enron@Enron, Brant Reves/HOU/ECT@ECT, Debbie R
Brackett/HOU/ECT@ECT, John Suttle/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Paul Radous/Corp/Enron@Enton, Tanya Rohauer/HOU/ECT@ECT, Tracy
Ngo/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@Enon, Wendi
LeBrocq/Corp/Enron@Enron, William S Bradford/HOU/ECT@ECT
cc:
Subject: The Tudor BVI Global Portfolio Ltd.

We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   May 31, 2000

Enron Entity:   Enron North America Corp.

Counterparty:   The Tudor BVI Global Portfolio LTD.

Transactions Covered:  Approved for all products with the exception of:  Pulp
and Paper


In response to the attached email, I told Hal that I would prefer the
Assignment, Bill of Sale and Conveyance.  To me, that is easier and cleaner
(a tax auditor would likely be more comfortable with a simple document that
unconditionally demonstrates conveyance of title).  It is also consistent
with our discussion of the other day (except now ENA is conveying the
remaining interest in Enron Sandhill Limited Partnership (which actually
makes sense)).

Please provide any comments that you might have ASAP.

Stuart

----- Forwarded by Stuart Zisman/HOU/ECT on 12/12/2000 05:32 PM -----

	"Haltom, Hal" <halhaltom@akllp.com>
	12/12/2000 05:21 PM

		 To: <stuart.zisman@enron.com>
		 cc:
		 Subject: Austin Energy Amendments

Attached are two approaches to transferring title from ENA, as
contractor, to Austin Energy and Sandhill, as owner, to the equipment
and other materials to be incorporated into the project. I believe
either approach works.

1. Assignment, Bill of Sale, and Conveyance.  This document transfers
title from ENA to Austin Energy and Sandhill in the percentages that
they own the facility under the Participation Agreement. It would be
executed only by ENA.

2. Second Amendment to EPC Contract.  I have added a new paragraph 4 to
the existing proposed Second Amendment to EPC Contract. This paragraph
amends Section 7.8(a) of the EPC Contract to provide that title passes
when the owner pays ENA for the equipment but no later than December 15,
2000.

Please let me know which approach you believe would be preferable.

Thanks, Hal.

 <<Second Amend.doc>>  <<Asmt, Bos, Con.doc>>
 - Second Amend.doc
 - Asmt, Bos, Con.doc


The e-mail I sent yesterday has an attachment that installs the new version
of the database.  It worked well in the four computers we used to test it.
Nevertheless, it failed on Bob Shults's computer (maybe because of a slightly
different configuration of his computer).  We rewrote the attachment to fix
the problem.

If the attachment gave you trouble, or if you have not launched it yet,
please use the one below instead.

Sorry for the inconvenience,

Eugenio


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

F O R

November 17, 2000 5:00pm through November 20, 2000 12:00am
------------------------------------------------------------------------------
------------------------

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: SEE ORIGINAL REPORT

EI: SEE ORIGINAL REPORT

ENRON NORTH AMERICAN LANS:  No Scheduled Outages.

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

LOTUS NOTES: No Scheduled Outages.

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS: SEE ORIGINAL REPORT

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:
Impact:  CORP
Time:  Sat 11/18/2000 at  6:00:00 PM CT thru Sun 11/19/2000 at  8:00:00 AM CT
 Sat 11/18/2000 at  4:00:00 PM PT thru Sun 11/19/2000 at  6:00:00 AM PT
 Sun 11/19/2000 at  12:00:00 AM London thru Sun 11/19/2000 at  2:00:00 PM
London
Outage:  Unify
Environments Impacted:  Unify Users
Purpose: Rebuilding all the indexes and changing the number of partitions for
better performance
Backout: Restore from Backup
Contact(s):  William Mallary  713-345-3485
------------------------------------------------------------------------------
-------------------------------------------------------
FOR ASSISTANCE

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

Specific Applications Help:
Unify On-Call      (713) 284-3757  [Pager]
Sitara On-Call     (713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS   (713) 639-9726  [Pager]
OSS/UA4/TARP    (713) 285-3165  [Pager]
CPR      (713) 284-4175  [Pager]
EDI Support      (713) 327-3893  [Pager]
All Other Systems    (713) 563-5797  [Pager]
      or (713) 563-5987  [Pager]


This transation is for delivery on ANR Pipeline Company's Mainline 7 Segment,
and as such,  all deliveries shall be made utilizing firm transportation to a
designated secondary delivery point (Buyer's choice") on ANR's system.  In
the event that Enron is unable to deliver to the designated secondary
delivery point , Buyer shall be responsible for designating an alternate
delivery point.


I think harassing me is a very popular pass time around here.

Gabriel Monroy
02/20/2001 10:08 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re:

hey, not much here.  None of my bosses are here, however, Tim left me some
work to do and I am having a hard time comparing my results to what the
analysts say they should be.  Tim would be disappointed if this is not
finished by tomorrow. At least that is what I think, so I am keeping myself
busy.  I have time to check my e-mail though, so keep writing.   For example,
you can lie to me about how beautiful Lake Charles is, oopsss.  I think Jeff
enjoys harassing you very very much.

Anyways, if you find something interesting to tell me, let me know.


We have received the executed EEI Master Power Purchase and Sale Agreement
dated 5/2/01 for the referenced CP.  Copies will be distributed to Legal and
Credit.


While we are continuing to work with Ted Murphy, etc, regarding component
VAR, expiry phenomena, and the other issues that are crucially important to
be able to effectively manage risk, (and prevent frequent violations), you
should know this is the most important immediate issue we face.  Even with
the IT constraints, which Beth Perlman has done a good job addressing for me,
our organization is willing to do anything to help manage this process.  I
have committed to Beth that will we help her find people with the ultimate
goal or being able to run real time VAR calculations.  Rick's idea of
allocating VAR in times like this would certainly be helpful (while we work
to perfect our risk management capabilities), but is only a short term
solution.

On another note, I really believe we will see gas prices significantly higher
this year, and have been working with Gary Hickerson to identify the best
equity plays as well.  Is there a way to further capitalize on our view, that
is, can Enron do anything structurally to capture more of this opportunity?
This gas move might be one of those once in a 100 year environments. (Board
permission, special vehicle, asset purchase, etc?)

Just as an FYI, even if all the ammonia and methane plants go down, the Nukes
run at +95% capacity, and there are no events to interrupt supply, we think
gas storage will end up at 2.55-2.6 Tcf at the end of the injection cycle.

I'd appreciate any ideas.


as at 2:00 pm, May 8

Les


While we don't need to do any lobbying on this bill, if anyone hears any
information about chances for success it would be good to get the info to
me.  Enron Wind has an interest in seeing this bill move forward.

Thanks,

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/28/2001 07:52 AM -----

	Alan Comnes@ECT
	02/27/2001 10:32 PM

		 To: David Parquet/SF/ECT@ECT, Michael Etringer/HOU/ECT@ECT, Christopher F
Calger/PDX/ECT@ECT, Mark Fillinger/SF/ECT@ECT, Sandra
McCubbin/NA/Enron@Enron, Hap Boyd/EWC/Enron@Enron, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT
		 cc:
		 Subject: QF Meeting Today--Highlights

Despite the fact the bill, by itself, does not guarantee payment for overdue
receivables, the QFs on today's call decided to go forward and push for SBX
47 irrespective of the progress on SBX 33.  A press conference is planned for
Friday by IEP.  Bowen, who heads up the first committee that this bill will
go through will have hearings on this bill on Tuesday at the earliest.

Jan S-J asked every QF to fax to IEP a description of all QF generation and
the zip code of each project so that they can begin lobbying specific
legislators.  A significant PR push is planned.

SBX 47 is opposed by SCE.  PG&E's position appears more ambivalent.  One
angle would be to try to get PG&E to support Enron's swap/SC language and
make inclusion of such language a condition of PG&E's support.

GAC


Nelson,
 Please use the above.  Don't forget to add your language in the last
paragraph.  Call me if you have any questions.


Shelley, Just wanted to pass on to you, Becky Cantrell and I met
	with Alfredo today to review our discussions with Mr. Formaggio.
	We had a very good conversation and Alfredo may be calling in the future
	for more information.  If you have any questions, please let me know.
	Thanks. Lynn

 -----Original Message-----
From: 	Huertas, Alfredo
Sent:	Thursday, August 30, 2001 12:01 PM
To:	Cantrell, Rebecca W.; Blair, Lynn
Subject:	FW: Open Access in the USA - A visit
Rebecca/Lynn

Thanks for your time spent with Mauro. I am today and tomorrow in Houston, and I would like to have a chance to see you and briefly discuss the issues you touched with him. Mauro is sending me a memo with the topics by end of today.

tx,
-----Original Message-----
From: Mauro Formaggio [mailto:MFORMAGGIO@autorita.energia.it]
Sent: jueves, 30 de agosto de 2001 3:19
To: Huertas, Alfredo; Keenan, Amber; Greco, Fabio
Cc: Claudio Di Macco
Subject: Open Access in the USA - A visit

Dear Amber, Alfredo and Fabio,
many thanks for the opportunity of visiting Enron in Houston.
Your colleagues provided me with a great lot of information and advice.
Rebecca Cantrell and Lynn Blair were very kind and helpful, in sparing their time with me and in organizing other meetings with colleagues.
They are very fine and I appreciate.
Maybe we would discuss, should the occasion come, some of the aspects of open access in the USA and their appropriateness for the italian case.
Best Regards
Mauro Formaggio


Terrific -thanks, Paul!

>  -----Original Message-----
> From: 	Savage, Paul (Assoc-Mia-App)
> Sent:	Friday, November 16, 2001 11:25 AM
> To:	Reetz, Ryan (Shld-Mia-LTIntl)
> Subject:	Enron DOAH proceedings
>
> Ryan:
>
> The JA just called me at the direction of Judge Alexander (Deerfield) to
> say that judge verifies that there has not been a ruling and to verify
> that today is our last day.
>
> Paul Savage
> Appellate Department, Miami
> Extension 0720
> Suite 2316
>
>
>
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Mary, Christi.

Thanks for your good comments on the draft interconnection procedures.
Attached is a memo addressing your comments.

Michele Farrell will have the pen to make the changes and to supervise the
filing while I'm out this week.

Jay.

-----Original Message-----
Date:  03/16/2001  12:28 pm  (Friday)
From:  Jim Eden
To:  Dave Lamb;  Frank Afranji;  Jack Todd;  MICHELE FARRELL
CC:  Gary Lindland;  JAY DUDLEY
Subject:  Re: Comments on Interconnection Procedures

I agree with Dave.  I'd agrue for 120 if I thought I could get away with it.

>>> Dave Lamb 03/16/01 11:16AM >>>
Frankly, I am more comfortable with 90 days.  Its easier to complete a
project early and send out the info prior to the due date, then to have to go
back and ask for more time.  Depending on the size of the plant and location,
we may be faced with a lot of checking equipment records and field checks to
verify ratings.  I'll ask Gary Lindland how he feels about reducing the time
line.

>>> MICHELE FARRELL 03/16/01 11:02AM >>>
Any feedback on Enron's comments on our draft interconnection procedures that
Jay sent out last night?  Jay and I are trying to get the DC attorneys on the
phone to incorporate some changes.  In particular, Enron wants us to put in a
shorter time for completing the Interconnection Facilities study (60 rather
than 90 days).  Enron says we would still have the flexibility to take longer
if we notify the customer that we need more time.  How do Dave and Jim feel
about that proposal?


HI, MELINDA! COULD YOU SEND THE DEAL NUMBERS TO THE RELIANT ENERGY SERVICES
CONFIRMS THAT NEED TO BE RE-FAXED. THANK YOU. JUDY


This raises some interesting questions around a global support model.

I had a concern that we are throwing a global metals business into a regional
support control process in London. Indeed, I am asking myself what support
model should exist for Asia - supposedly the key growth area for the new
Enron Global Markets business.

Would you have time to discuss/ brainstorm this - or do we think we have time
to prepare ( my worrry is that there are senior executives planning global
expansion which the support model ( Houston and London ) can not cope with )

Or am I paranoid

Regards

Mike
---------------------- Forwarded by Mike Jordan/LON/ECT on 02/08/2000 14:30
---------------------------
 Office of the Chairman
From: Office of the Chairman@ENRON on 31/07/2000 18:07 CDT
To: All Enron Worldwide
cc:
Subject: Organisational Announcement - Introducing Enron Global Markets

As evidenced by an exceptionally strong performance in the second quarter,
Enron,s wholesale energy businesses in North America and Europe continue to
experience tremendous growth.  The opportunities to continue to grow our
natural gas and power businesses have never been better and it is critical to
Enron,s future success that we remain focused on expanding these businesses
and maintaining the strong momentum we have in these markets.

It is equally important that we continue to develop new businesses outside of
gas and electricity, which can make significant contributions to our earnings
growth.  We have made significant progress in developing these businesses in
North America, Europe, and most recently in our new Net Works business unit.
Included in these global businesses are our efforts in crude and products,
coal, emissions, insurance, currency, equity trading, interest rates, credit
trading, paper and pulp, and metals.

While significant progress has been made in these efforts we need to
accelerate the growth of these new businesses while continuing to
aggressively expand our core gas and electricity businesses in North America
and Europe.  In order to accomplish these two objectives and to capitalize on
the increasingly global opportunities in these new businesses we are today
announcing the formation of a new business unit ) Enron Global Markets.  This
new business unit will focus on markets and commodities which are global in
scope, but outside our traditional gas and power markets.  This new core
business unit will operate in parallel with and in close coordination with
the North American and European businesses.

Enron Global Markets will be headed by Mike McConnell, President and Chief
Executive Officer, and Jeff Shankman, Chief Operating Officer.  They will
report to Mark Frevert who will be Chairman of Enron Global Markets.  Mark,
Mike and Jeff will comprise the Office of the Chairman for Enron Global
Markets.

Included in this new business unit and reporting to the Office of the
Chairman will be the following businesses and their leaders:
- Global Crude and Products:     John Nowlan
- Coal:         George McClellan
- Currency, equities, interest rate and agricultural trading:  Gary Hickerson
- Insurance and weather:      Jere Overdyke

Enron,s metals business and Enron Credit.com will remain the responsibility
of Enron Europe. The Paper and Pulp business will continue to reside in North
America.

With the departure of Mike McConnell from Enron Net Works, we are pleased to
announce the following appointments in that business unit:
- Jeff McMahon: President and Chief Operating Officer
- Louise Kitchen: Chief Commercial Officer
- Philippe Bibi:  Chief Technology Officer

Jeff, Louise and Philippe, along with Greg Whalley,  will comprise the Office
of the Chairman for Enron Net Works.

With Jeff Shankman,s departure from Enron North America,s natural gas
operation, all of Jeff,s direct reports will report to John Lavorato.

We are also pleased to announce the following changes to the Enron North
America Office of the Chairman.  John Lavorato will join the ENA Office of
the Chairman as Chief Operating Officer.  Dave Delainey will assume the role
of President and Chief Executive Officer.  Mark Frevert will retain his role
as Chairman of Enron North America in addition to his role as Chairman of
both Enron Global Markets and Enron Europe.

Please join us in congratulating everyone in their new assignments and in
supporting the new Enron Global Markets organisation.


at least i am up 12,500 on the trade from Sat. b/c my team sucked
but i did beat john in the uhffl

do we need to start doing anything for the tail gate ???

dq


No, deal 156071 is good for days 7-29.

To: Daren J Farmer/HOU/ECT@ECT
cc: Sherlyn Schumack/HOU/ECT@ECT
Subject: Re: Deal 156071 Feb 00

Daren,

 There are only two deals on PGEV pipeline: Deal #156071- valid 02/01/00 -
02/29/00, and Deal # 208083 - valid for 02/01/00 - 02/06/00.  Should there be
another deal for days 7-29??  Thanks

Thu

Daren J Farmer
03/23/2000 11:19 AM
To: Thu Nguyen/HOU/ECT@ECT
cc:
Subject: Re: Deal 156071 Feb 00

The actuals should be allocated to the new ticket which has been nom'd,
tracked. and balanced.

D

	From:  Thu Nguyen                           03/22/2000 07:33 PM

To: Daren J Farmer/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT
Subject: Deal 156071 Feb 00

Daren,

This is one of the deals which you told me to zero out.  Unfortunately, I do
not allocate PGEV.  Also,  Sherlyn has actualized PGEV and she has the
support from the pipeline for the 1746918 volume.  Please let me know if I
had missed something in our conversation.  Thanks

Thu


Thanks for the offer!  Lets see when we get this event scheduled and I may be
able to take you up on it.  Looks like you Utilicorp guys need to get
coordinated or I may have to play golf twice.  That would be brutal.  DF

"Hooker, David" <DHooker@UtiliCorp.com> on 05/16/2000 02:53:49 PM
To: "'Drew.Fossum@enron.com'" <Drew.Fossum@enron.com>, "Peldner, Patrick"
<PPeldner@utilicorp.com>
cc: dhill@wrf.com

Subject: RE: Golf

afternoon of June 1 works great with me.  I've "inked" you in.  Drewski,
plan to stay at the house that evening as well.  same for you David Hill if
you can make it.

no, but would love to here the story.

> -----Original Message-----
> From: Drew.Fossum@enron.com [SMTP:Drew.Fossum@enron.com]
> Sent: Tuesday, May 16, 2000 2:21 PM
> To: DHooker@UtiliCorp.com; PPeldner@UtiliCorp.com
> Cc: dhill@wrf.com
> Subject: Golf
>
> How about Thursday or Friday, June 1 or 2 for a round of golf?  I'm in HOU
> all wk and the end of the wk looks pretty light.  I'd be happy to venture
> out west to your Katy/San Antonio nick of the woods if you guys are
> available.  Hill, are you gonna be in Houston around then?  If so, can you
> sneak the clubs past your wife?  Please advise.  DF
>
> PS:  I met with Paul Bieniawski and his new storage group today.  Do you
> guys know how he parted terms with the Frogs?


asdfasd


So that we continue to drive our activities with our Public Affairs strategy,
we have asked Alhamd to coordinate our material and project timeline.  We are
also asking Jeanie Mandelker to take the lead in working through our
different material to put into one look and feel.

Please let Alhamd know of your activities so that we are able to better
coordinate any bottlenecks.  Also, please forward to Alhamd and Jeanie all
prior work that has been done so that they are in the loop.

Attached the original gameplan.

Jim