fyi...
---------------------- Forwarded by Karen Denne/Corp/Enron on 05/04/2001
07:34 PM ---------------------------
From: Gina Taylor/ENRON@enronXgate on 05/02/2001 02:52 PM
To: Karen Denne/Corp/Enron@ENRON
cc:

Subject: FW:  Kinder Morgan And Calpine Announce Plans to Develop New Natural
Gas Pipeline to California

fyi....

Gina

 -----Original Message-----
From:  Corman, Shelley
Sent: Wednesday, May 02, 2001 2:40 PM
To: McCarty, Danny; Harris, Steven; Hyatt, Kevin; January, Steven; Blair,
Lynn; Taylor, Gina; Fossum, Drew; Miller, Mary Kay
Cc: Horton, Stanley
Subject:  Kinder Morgan And Calpine Announce Plans to Develop New Natural Gas
Pipeline to California

FYI

Wednesday May 2, 2:11 pm Eastern Time

Press Release
SOURCE: Kinder Morgan Energy Partners, L.P. and Calpine Corporation

Kinder Morgan and Calpine Announce Plans to Develop New Natural Gas Pipeline
To California

Sonoran Accepts Binding Bid for 400,000 Dekatherms/day

HOUSTON, May 2 /PRNewswire/ -- Kinder Morgan Energy Partners, L.P. (NYSE: KMP
- news) and national independent power company Calpine Corporation (NYSE: CPN
- news) today announced plans to jointly develop the Sonoran Pipeline,
subject to a successful open season and all other approvals. As proposed, the
Sonoran Pipeline will be a 1,160-mile, high-pressure interstate natural gas
pipeline from the San Juan Basin in northern New Mexico to markets in
California. The project will provide much needed natural gas transportation
capacity to California to serve rapidly growing electric generation demand.
In addition, producers will be able to move more natural gas from the San
Juan Basin through the Sonoran Pipeline. This will benefit California
consumers, as access to these abundant natural gas supplies has been
constrained due to a lack of pipeline infrastructure.

The interstate pipeline will be evaluated and developed in two phases, which
will be subject to the jurisdiction of the Federal Energy Regulatory
Commission (FERC). The first phase will run from the San Juan Basin to the
California border, with the second phase extending from the California border
to the San Francisco Bay area. The first phase of the pipeline is expected to
be completed in the summer of 2003.

``This exciting project will enable us to grow our core business and extend
our natural gas transportation service into new markets,'' said Richard D.
Kinder, chairman and CEO of KMP. ``We don't currently transport natural gas
into California, but we do own and operate the largest independent products
pipeline on the West Coast, headquartered in Orange, Calif. We will utilize
our expertise as a major natural gas pipeline operator and transporter to
build the Sonoran Pipeline, and we look forward to expanding our relationship
with Calpine, one of the leading power plant developers in America.''

According to Pete Cartwright, chairman, president and CEO of Calpine, the
project will serve several important purposes for Calpine. ``The Sonoran
Pipeline will help ensure a diverse supply of natural gas in California. With
our existing plants in California, and our plans to bring on line an
additional 9,000 megawatts of capacity, it is essential that we have a
dependable, competitively priced source of natural gas. This important new
pipeline will allow us to better control our costs in the California market
to help lower energy prices and build needed generation. This project is a
great example of two energy companies joining forces and utilizing their
complementary strengths to provide real solutions to California's energy
crisis.''

The project is expected to be developed in two phases.

Phase One:

Phase One will consist of approximately 460 miles of 36-inch, high- pressure
natural gas interstate pipeline originating from interconnects with
TransColorado Gas Transmission Company, Transwestern Pipeline Company and
various points at the Blanco Hub in San Juan County, N.M. near the Colorado-
New Mexico state line; thus providing access to the major producing basins in
the western U.S. The pipeline will continue westward with delivery points on
the California/Arizona border near Needles with a 20-mile, 24-inch lateral to
Topock. The pipeline will initially transport up to 750,000 dekatherms (Dth)
of natural gas per day and can be economically expanded with compression to
transport up to 1.0 million Dth per day. A binding ``open season'' will be
held this month and potential shippers will be given the opportunity to
commit to firm capacity on the new line. Given sufficient shipper support in
the open season, Sonoran Pipeline, LLC (Sonoran) proposes an in-service date
in the summer of 2003. The estimated cost of phase one of the project is
approximately $624 million. The open season will seek at a minimum, 20-year
term commitments at a fixed transport rate of $0.39 per Dth for firm
transportation. Sonoran proposes to charge shippers actual fuel on Phase One
via a fuel tracker. Fuel is estimated at 1.3 percent. Sonoran has already
received an acceptable binding bid from Calpine Energy Services, L.P. for
400,000 Dth per day.

Phase Two:

Phase Two will be an extension of Phase One and consist of approximately 590
miles of 36-inch and 42-inch high-pressure interstate natural gas pipeline
continuing from Needles on the California border to points within California,
terminating near Antioch in Contra Costa County. Depending on shipper
interest, Phase Two will transport from 1.0 to 1.5 million Dth of natural gas
per day. A non-binding ``open season'' will be held on Phase Two simultaneous
with the Phase One open season, and potential shippers will be given the
opportunity to express their interest in obtaining firm capacity to
California delivery points. Sonoran has already received a non-binding bid
from Calpine Energy Services, L.P. for 500,000 Dth per day for Phase Two. The
estimated cost of Phase Two is approximately $1.1 billion.

The pipeline could connect with several gas pipelines, utilities and
suppliers, such as Kern River, Mojave, Elk Hills, Pacific Gas and Electric
Company, Southern California Gas and numerous gas-fired power plants,
including Calpine's, along its route. Additionally, Sonoran would consider
other potential connections in accordance with shipper requests.

After finalizing precedent agreements, in which shippers make binding
contractual commitments to capacity on the line, Sonoran Pipeline will file
an application for approval of the project with the FERC. Sonoran expects to
utilize existing right-of-way corridors as much as possible to minimize
potential environmental impact. Shippers seeking additional information on
the project should contact Vice President Scott Parker at (630) 691-3689 or
Project Director Ron Happach at (630) 691-3622.

Based in San Jose, Calif., Calpine Corporation is dedicated to providing
customers with reliable and competitively priced electricity. Calpine is
focused on clean, efficient, natural gas-fired generation and is the world's
largest producer of renewable geothermal energy. Calpine has launched the
largest power development program in North America. To date, the company has
approximately 31,200 megawatts of base load capacity and 6,800 megawatts of
peaking capacity in operation, under construction, and in announced
development in 28 states and Canada. The company was founded in 1984 and is
publicly traded on the New York Stock Exchange under the symbol CPN. For more
information about Calpine, visit its website at www.calpine.com.

Kinder Morgan Energy Partners, L. P. is the nation's largest pipeline master
limited partnership with an enterprise value of more than $7 billion. It owns
and operates one of the largest product pipeline and terminal systems in the
country. In addition, it is a major transporter of natural gas, operating
more than 10,000 miles of pipeline; is the nation's leading provider of CO2
for use in enhanced oil recovery projects; and is one of the largest
operators of bulk terminals, with 29 terminals which transload 40 million
tons of coal, petroleum coke and other products annually. The general partner
of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI - news), one of the largest
midstream energy companies in America, operating more than 30,000 miles of
natural gas and product pipelines. KMI also has significant retail
distribution, electric generation and terminal assets. Combined, the two
companies have an enterprise value of approximately $17 billion.

This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although Kinder Morgan believes that its expectations
are based on reasonable assumptions, it can give no assurance that such
assumptions will materialize. Important factors that could cause actual
results to differ materially from those in the forward-looking statements
herein are enumerated in Kinder Morgan's Form 10-K and 10-Q as filed with the
Securities and Exchange Commission.

This news release discusses certain matters that may be considered
``forward-looking'' statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, including statements regarding the intent,
belief or current expectations of Calpine Corporation (``the Company'') and
its management. You are cautioned that any such forward-looking statements
are not guarantees of future performance and involve a number of risks and
uncertainties that could materially affect actual results such as, but not
limited to, (i) changes in government laws and regulations, (ii) the results
of proceedings before regulatory bodies or courts with jurisdiction over the
project, (iii) commercial operations of the project that may be delayed or
prevented because of various development and construction risks such as the
inability to obtain financing and the necessary permits to operate, the
acquisition of rights-of-way, or the failure of third party contractors to
perform their contractual obligations, (iv) cost estimates are preliminary
and actual costs may be higher than estimated, which could adversely affect
the return on investment, (v) other market responses of competitors, (vi)
future demand for natural gas in the markets the pipeline proposes to serve,
(vii) the risks associated with engineering, designing and installing
pipeline parts and components, or (viii) delivery and performance risks
associated with pipeline parts and components attributable to production,
quality control, suppliers and transportation. You are also referred to the
other risks identified from time to time in the Company's reports and
registration statements filed with the Securities and Exchange Commission.

SOURCE: Kinder Morgan Energy Partners, L.P. and Calpine Corporation


People,

The Fundy site now has updated price indices for both the east and west
desks.  "EOM Price Index" is now "EOM East Price Index" and for the west
desk, it is Price Data/EOM West Price Index.  Feel free to give me a shout if
you have further queries.

Lindon
x57758

 -----Original Message-----
From:  Boyle, Sean
Sent: Tuesday, April 24, 2001 10:43 AM
To: Taylor, John Craig; DePaolis, Tammi; Versen, Victoria; Townsend, Judy;
Germany, Chris; Goodell, Scott; Junek, Dan; Hendrickson, Scott; Hodge, John;
Neal, Scott; Ring, Andrea; Pereira, Susan; Brawner, Sandra; Keavey, Peter;
McKay, Brad; Pimenov, Vladi; Barbe, Robin; Smith, Maureen
Cc: Colin Tonks/HOU/ECT@ENRON; Chiu, Lindon
Subject: W/A FP for May Ticker

The real time weighted average price for fixed price products for May can be
found on the Fundy site under Price Data/EOM Price Index.  Let me know if you
have any questions.
Note: If the product has not traded it will not show in the list.

Thanks to Colin Tonks and Lindon Chiu for your help.


From May 1st to May 6th you can reach me at 281-461-8597 after that you can
reach me at home 713-942-9571.
Thanks


Mark,
This is a FYI:

I ran across a Terms of Use Statement which is likely similar to what we may
need as part of our Enron customer internet site.  The statement is actually
part of Coral Energy's website.  You can access the terms of use statement by
going to the link below:

https://www.coralconnect.com/legal/TermsOfUse.asp

Let me know how things are going on the review and if I can be of assistance.

mike


Here is the VOM and FOM for the Entergy model.  Yvan Chaxel is using these
same numbers in his spread option value model.
VOM - $0.89
FOM (Annual $'s) - $ 915,000/year
I am still getting the model together.
Ben
3-7998


This request has been pending your approval for  37 days.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000057285&Page=Approval to review and act upon this request.

Request ID          : 000000000057285
Request Create Date : 8/30/01 5:59:30 PM
Requested For       : erik.simpson@enron.com
Resource Name       : Market Data Kobra Power
Resource Type       : Applications


Dear Subscriber,

     Your subscription is currently paid through August 2001.

     Thank you,

     Texas Monthly

     bm

______________________________ Reply Separator
_________________________________
Subject: Customer Service Request
Author:  New Media User ID <webster2@secmail.cdsfulfillment.com> at HEARST
Date:    1/11/2000 4:34 AM

       77062LVE012503JAS9
       plove@enron.com
       PHIL LOVE
       2503 JASMINE RIDGE COURT

       HOUSTON, TX 77062

       I have never received a bill and did not know that my subscription was
       expiring.  It shows on the previous page that
       my subscription does not expire until 2001. Please advise.


---------------------- Forwarded by Kayne Coulter/HOU/ECT on 04/11/2001 11:39
AM ---------------------------

Andrea Dahlke@ENRON
04/11/2001 11:37 AM
To: Kayne Coulter/HOU/ECT@ECT
cc:
Subject: Access to SVCE portfolio

Kayne-

These are the hourly traders that I've requested access to the new SVCE
portfolio for:

Keller Mayeaux   keller
Steve Olinde   solinde
Doug Miller   dmiller
Don Baughman   dbaughm
Pat Hanse   phanse_pc
Dustin Collins   dcollin
Chad Starnes   cstarnes
Narsimha Misra   nmisra
Joe Stepenovitch  jstepeno

I do not have Enpower ID's for the people listed below.  As soon as I get
them I will send in another access request.

Larry Jester
Joe Errigo
Chris Watts
Juan Hernandez
Rudy Acevedo
Miguel Garcia
Dean Laurent
Mauricio Trejo
J.D. Kinser
Juan Padron

Thanks Kayne!

Andrea


Start Date: 4/20/01; HourAhead hour: 12;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042012.txt

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 12 / Preferred: -800.00 / Final: -799.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/20/01
  TRADING_SC: DETM
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1


He spoke to you several weeks ago and you asked him to
research the model he has developed for the Power Mkt?

He has some exciting news!

His telephone # is 925-294-2552


Feast your eyes on Enron Business' cool and colorful new look.  You'll find
it in your mailbox at home and online at home.enron.com under Publications,
Enron Business, and "Volume 1, 2001".  (And if you're in Houston, you might
find a few extra copies at the Plaza Java in the lobby of the Enron Building.)

In this issue:
? Enron Industrial Markets invigorates an "old economy" marketplace by
creating transparent trading systems for paper, pulp and steel;
? Jeff Skilling takes a look back at 2000 and tells us what to expect in 2001
) and gives us a few intimate details about himself;
? LNG becomes a promising option;
? Enron salutes the 100th anniversary of Spindletop;
? The Insider takes at look at how gas trading books work;
? Find out what you told us should be Enron's 2001 New Year's Resolutions )
and enter our Word Search to win a $50 American Express gift certificate!
Don't dally ) the deadline for entries is Friday, March 30; and
? Have you got an extreme hobby?  We want to know about it!  For details,
start reading(


---------------------- Forwarded by Rob G Gay/NA/Enron on 02/12/2001 05:17 AM
---------------------------

Rob G Gay
02/12/2001 09:48 AM
To: boeh@opic.gov, "Kluesener, Frank" <frank.kluesener@kfw.de>, "Rivera,
Nancy A." <NRIVE@opic.gov>
cc:

Subject: GSA

On Friday we distributed  RFPs for securing bridge gas.   Letters went today
to Chaco, TotalfinaElf, Andina, Maxus, BritishGas and Petrobras for them to
quote us 6-month gas with our option to extend for another 6 months.  We have
given them until March 2nd to respond.

Pete Weidler will meet with YPF (hopefully with Ernesto Lopez Anad?n) the
week of the 19th.


Please forward to Advisory Committee
----- Forwarded by Steven J Kean/NA/Enron on 09/20/2000 09:47 AM -----

	Ann M Schmidt
	09/18/2000 08:59 AM

		 To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Mary
Clark/Corp/Enron@ENRON
		 cc:
		 Subject: Enron Mentions

Manager's Journal: Heir to Greatness
By Gary Hamel

09/18/2000
The Wall Street Journal
A38
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Sometime in the next few months, the board of General Electric will anoint a
successor to the world's most
celebrated corporate leader. Running GE may be, as Jack Welch claims, the
best job in the world, but his
successor may find it to be one of the toughest as well -- not because
anything is going wrong at GE, but because
so much is going right, and has been for so long.

Mr. Welch's successor will inherit a company that is already stupendously
valuable, that has already shed most of
its unwanted pounds, and has already set a string of performance records. How
do you do better than that?

This is more than a rhetorical question for GE's next chairman. Pity, for a
moment, a few other heirs to greatness.
Doug Ivester was gone just 25 months after following the legendary Roberto
Goizueta at Coca-Cola. Dale Morrison
lasted less than four years at Campbell Soup after taking over from
cost-cutter extraordinaire David Johnson. British
Airway's Bob Ayling got pushed out after he had struggled unsuccessfully to
fill the shoes of Colin Marshall. And
Durk Jager prematurely stepped down as Procter & Gamble's chairman after
failing to live up to the lofty standards
set by earlier P&G leaders.

Pretenders

None of the pretenders succeeded in building greatness on top of greatness.
In three of these cases, the board
brought back a recently retired CEO or chairman to shore up investor
confidence. Sadly, Goizueta, who died in
October 1997, could not reprise his earlier success at Coca-Cola.

GE's next chairman will have to exceed Mr. Welch's near-mythic
accomplishments if GE is to continue to fly high.
Like Cisco, Intel, Wal-Mart, Nokia and any other company that is exploring
the outer atmosphere, GE must struggle
ever harder to resist the laws that threaten to flatten the arc of success:
the law of large numbers, the law of
diminishing returns, and the law of averages.

-- The law of large numbers: Over the past decade GE's market value has
multiplied eleven-fold -- to more than $560
billion from $50 billion at the end of 1990. Sustaining such a breathtaking
pace of value growth gets progressively
harder as a company gets bigger. As the most valuable company on the planet,
GE would need to grow its market
cap to nearly $3 trillion over the next five years to match the 42%
compounded annual growth rate it has achieved
over the past half-decade.

One way of escaping the law of large numbers is to divide big things into
small things. One option for GE would be
to spin out its low-growth businesses as separate companies. Over the past
five years, profits in two sectors --
appliances and plastics -- were essentially flat. Holding these businesses
may generate a positive return on
invested capital, but no investor would keep them inside a growth portfolio.
Why should GE?

If GE's next chairman can't muster the courage to leave the dawdlers behind,
perhaps he -- or she -- should spin out
the stars. Of the eight large business segments for which GE reports results,
two -- GE Capital and NBC -- account
for nearly 50% of GE's five-year profit growth. Sure, GE Capital has
benefited from its parent's dirt-cheap cost of
capital, but from an investor's point of view, these advantages may be more
than offset by the drag of laggardly
earnings growth in other GE businesses. Looking beyond capital and
broadcasting, there are probably a dozen
other high-growth candidates for spin-outs in GE's other sectors.

Mr. Welch's successor shouldn't be afraid to disassemble GE. After all, the
goal is not to make GE the "world's
most valuable company," but to make its shareholders the world's most richly
rewarded. Shareholders don't care
whether GE's stock appreciates or whether it's the stock of companies that GE
has disgorged. Breaking up is hard
to do. But Mr. Welch's successor may find that turning GE into the world's
first $3 trillion company is even harder.

-- The law of diminishing returns: Even the most successful strategies lose
their potency over time. For most of Mr.
Welch's tenure, GE's strategies of choice have been cost cutting and
acquisitions. From its unflinching approach to
downsizing in the mid-1980s, to its more recent dedication to e-business, Mr.
Welch's GE has been imaginative
and unrelenting in excising waste. At the same time, GE's top line has been
buoyed up by a tidal wave of
acquisitions -- more than 300 in the past three years, many outside the U.S.

The payoff to all this cutting and deal making has been steadily accelerating
earnings growth. Net earnings grew
10.8% in 1996, 12.7% in 1997, 13.3% in 1998 and 15.3% in 1999. Looking
forward, power dieting and binge buying
may not be enough to keep GE's earnings escalator rising ever skyward.

There are already signs that GE may be nearing the asymptotic end of the
efficiency curve. Between 1981 and
1990, GE's revenue per employee increased by 187%. Yet over the last decade,
revenue per employee grew by a
more modest 55%, and has been essentially flat since 1996. And while
operating margins in GE's manufacturing
businesses have been steadily improving, GE's net profit margin, after all
adjustments, has remained pretty much
unchanged over the past five years.

What about acquisitions? While industry consolidation still has a way to run,
particularly outside the U.S., it seems
inevitable that it will become harder and harder for GE to find under-priced,
under-managed fixer-uppers. After all, at
the current furious pace of corporate coupling, the U.S. would be left with a
single company by 2010.

That leaves "e." E-commerce will drive new efficiencies into GE's business
processes, but GE is not alone in
striving to e-enable its businesses. E-commerce is rapidly becoming an
information technology arms race -- with
competitors making tit-for-tat investments to reap tit-for-tat efficiency
gains. And while efficiency-besotted CEOs are
counting on the Internet to shrink procurement costs, savvy customers will be
just as creative in using the Net to
beat down prices. Whether GE's enthusiasm for all things "e" produces
long-lasting, peer-beating profit growth
remains to be seen.

GE's next chairman may want to borrow a lesson or two from Enron, which has
been voted America's most
innovative company five years running and displaced GE as the "best managed
company" in Fortune magazine's
last "most admired" survey. Forty percent of Enron's $63 billion market value
comes from businesses the company
wasn't even in three years ago -- all of them are homegrown.

Forget acquisitions. With GE's powerful brand, global reach and fearsome
capacity for execution, there's no reason
GE shouldn't surpass Enron as a business-building champ. It is entirely
reasonable to expect that GE could create
10 to 20 new businesses over the next few years -- with each adding an
average of $5 billion to GE's market value.

Sooner or later GE is going to need an entirely new genre of wealth-creating
strategies -- and a much more
aggressive commitment to internally generated new business development may
well be the most promising
candidate.

-- The law of averages: Over the past five years, GE's price/earnings ratio
has tripled, from just over 16 to more than
48. The company is currently selling at a 65% premium to the market average
P/E. But being a standout performer
for more than a few years at a time is a daunting challenge for any company,
large or small. It seems that no
company can forever escape the steady tug of mediocrity.

At the end of 1999, the Standard & Poor's 500 included 326 companies that had
been in the index for the entire
decade. Fifty-five of these companies, among them GE, managed to deliver top
quartile shareholder returns in as
many as four years out of the previous 10. GE's top quartile results came in
1996, 1997, 1998 and 1999. If GE's
new chairman manages to extend this streak for another four years, GE will
set a new world record, for none of the
326 S&P veterans achieved top quartile returns in as many as eight years out
of 10 during the '90s, and only four
companies -- Oracle, Home Depot, Intel and Cisco -- cleared the bar seven
years out of 10.

If GE can fire up the entrepreneurial spirit in each of its employees, it
just might beat the odds. Like most large
companies, GE seems to be reluctant to encourage employees to start new
businesses by giving them equity
stakes in new ventures. While this isn't the only way to build businesses,
it's one that can't be ignored in a world
where talented employees are often lured away by the promise of a big chunk
of equity in a start-up. GE already
invests in start-ups via GE Equity -- to the tune of $1.5 billion in 1999.
Last year GE also repurchased $1.9 billion of
its own stock. One wonders just what kind of new wealth GE's own employees
might have been able to create if
they had been backed by this kind of capital?

To have any hope of escaping Mr. Welch's shadow, and matching his success,
GE's next chairman will have to
keep a simple truth in mind: If you're trying to achieve unprecedented ends,
you're going to need unprecedented
means. A break-up, a few major spin-outs, a bottom-to-top initiative focused
on making GE as good at creating bold
new businesses as it is at improving existing businesses, an absolute
commitment to doubling or tripling GE's
internal growth rate -- these are all potential candidates for the next big
thing at GE.

Maybe, just maybe, GE will continue to fly high with its current success
recipes. One could argue that as long as
there are companies around the world that aren't as well-managed as GE, Mr.
Welch's magnificent buy-and-improve
engine will have plenty of fuel. Or that GE's Web-smitten executives will
discover Net advantages no one else has
yet dreamed of.

After 20 years under Mr. Welch, GE is habituated to meeting new challenges.
Moreover, GE has a long history of
organizational and managerial innovation -- it was among the first to
decentralize along business unit lines, embrace
disciplined strategic planning, delayer its hierarchical organization, and
commit itself to becoming Webified from
stem to stern. Like the Internet, GE is diverse, global, flat, meritocratic
and non-hierarchical.

Maybe all of this will help GE to become one of the first companies to marry
the rule-busting, business-building
ethos of the "new economy" with the "old economy" virtues of scale,
efficiency and quality. If GE succeeds, there
will be no more talk of new economy and old economy, for GE will have managed
to create a perfect synthesis of
old and new. And the most perfectly developed specimen of the industrial age
will have become the archetype for
the post-industrial corporation -- a company that uses its size and
operational excellence to crush the upstarts, and
its industry-transforming innovation to constantly surprise the old farts.
This is a worthy, and necessary, aspiration
for the next leader of America's pre-eminent corporation.

Mr. Hamel is chairman of Strategos, a consulting company based in Menlo Park,
Calif. He is author of "Leading the
Revolution" (Harvard Business School Press, 2000).

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

Spiraling energy costs creating near-crisis situation
The heat is on consumers
Monday, September 17, 2000

By DAVID IVANOVICH
Copyright 2000 Houston Chronicle Washington Bureau

http://www.chron.com/cs/CDA/printstory.hts/topstory/670583

Abreast of the Market
S&P Index Seemed Tranquil This Year, but...
By E.S. Browning
Staff Reporter of The Wall Street Journal

09/18/2000
The Wall Street Journal
C1
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Amid the storm that has swept the Nasdaq Composite Index this year, the
Standard & Poor's 500-stock index
looks like a sea of tranquility.

Since Jan. 1, it has gone almost exactly nowhere, starting the year at
1469.25 and closing Friday at 1465.81.

But beneath the quiet surface, a furious battle is raging among the S&P's
components, with some of last year's
losers becoming this year's winners.

Some of the most amazing performers are the natural-gas companies, which are
up about 70% as a group so far
this year. "The natural-gas index looks like an Internet stock from a year
ago," says Richard Bernstein, chief
quantitative strategist at Merrill Lynch.

El Paso Energy is up 70% so far this year. KeySpan Energy is up almost 60%.
On top of its stock gain, KeySpan
offers something some investors aren't familiar with: a 5% dividend.

Now the big question is, should investors be plowing their money into the
recent winners, which also include drug
stocks, brokerage-firm stocks and bank stocks? Or is their surge a flash in
the pan that will evaporate as investors
get over their jitters in the fall?

Higher oil prices helped send utility stocks up on Friday, and most other
stocks down. The Dow Jones Industrial
Average fell 1.45%, or 160.47 points, to 10927.00, leaving the blue-chip
index down 2.62%, or 293.65 points, for the
week.

The Nasdaq Composite Index was down 2.01% on the day and 3.6% on the week.
The Dow Jones Utility Average,
however, rose 1.52%, or 5.94 points, on Friday to a record 397.04, leaving it
up 2.78% on the week.

The S&P 500, still the broadest of the major market indexes, dropped 1% on
Friday. But it is just 4% off its record
of 1527.46, set March 24. In contrast, the technology-heavy Nasdaq index is
down 24% from its March 10 high.

Within the S&P 500, though, there have been some dramatic moves. Utilities
are up an astounding 40%, just in the
time since the S&P peaked on March 24, according to Ned Davis Research.
Financials and drug stocks are up
about 16% each -- again, since the S&P hit a record.

Communications stocks, on the other hand, have fallen 25% in that period. The
S&P 500's big tech stocks are
down more than 19%.

Some analysts think the move that is under way is broader than a sector
rotation. Some of the least-wanted stocks
of 1999 have become desirable this year. As huge stocks, such as Qualcomm and
Yahoo!, have sagged, smaller,
once-neglected S&P companies, such as Reebok and Allied Waste, have soared.

The switch can be seen in an index called the Value Line Arithmetic Index.
That index tracks about 1,700
companies and doesn't give any extra weight to the ones with a larger market
value. It is a closer reflection of the
average company, rather than the biggest companies.

So far this year, it is up 13%, eclipsing the S&P 500. The S&P 500 is
weighted according to its members' market
value, which means that it is dominated by the larger stocks. The Value Line
index's strength compared with the
S&P 500 is a clear indication that some of the smaller stocks are making a
comeback, at least for now.

Some of the gains do seem to reflect special circumstances. Utilities have
been helped by an explosion in
natural-gas prices and by a search for stable investments in a turbulent
stock market. Many banks and brokerage
firms have benefited from takeover speculation: Merrill Lynch is up 66% so
far this year; Lehman Brothers is up
69%.

If takeover expectations fade, the brokerage stocks risk a slide. And energy
companies depend on oil and gas
prices, which can make them volatile. Natural-gas bulls note, however, that
natural-gas prices are expected to
remain high for some time, which could keep propelling that group ahead.

"Very few people thought energy prices would remain this high for as long as
they have," notes Donaldson, Lufkin &
Jenrette investment strategist Thomas Galvin. "So you still have people
underweighted both areas, energy and
utilities."

That means that there still are plenty of skeptics out there. If gas prices
stay high, the stocks have room to rise as
skeptics are won over.

But the real trick during the coming months may not be to be in the right
sector, but to be in the right stock, both
men say.

At a time when the economy is slowing and earnings growth will be more
difficult, "you probably want higher-quality
stocks, because they have more stable earnings," Mr. Bernstein says.

When tech stocks or utility stocks are in favor, it is enough to buy a stock
from the group and your stock will go up.
Now investors need to be more selective.

"El Paso and Duke Energy are extremely well managed," says Mr. Galvin, "as is
Enron. But the rising tide in
utilities has lifted all boats, and not all utilities are well enough managed
to take advantage of all opportunities."

The key is choosing the stocks that will withstand the more difficult times
to come, and that won't be easy. People
who bought Intel or Oracle at the start of this year probably feel as if it
wasn't that bad a year for tech. Both, despite
a recent sag, still are up almost 40% this year. Those who chose Microsoft or
Dell, however, took a bath: Microsoft
is down 45% since the year began, and Dell is down almost 30%.

Mr. Galvin thinks tech stocks will stage a fourth-quarter rally, as investors
look for companies that can continue to
build profits in a slowing economy. He points out that analysts expect tech
to post 38% earnings growth next year,
only a bit less than this year's 41%. But benefiting from any rally would
require picking the stocks that will have the
good earnings.

Another way of looking at the uncertain future, says Bob Bissell, president
of Wells Capital Management, is that
there could be some unexpected events. Companies whose stock prices have
fallen could be acquired, or forced to
restructure, which could provide a payoff for investors.

"I am thinking of companies like AT&T," he says. "Something has got to give
there. The stock is down to the low
30s," 47% down from its 52-week high of 61. "Something has got to happen. Do
you fragment the company?"

He also points to midcap stocks, another of the year's strongest performers.
"I call the category `the forgotten
prince,' " he says. The S&P Midcap 400 index is doing even better than the
Value Line index, up 22% since the
year began.

Some midcap companies deserve to be forgotten, of course. But the index also
contains some smaller banks that
could be takeover targets, and it has some fast-growing tech companies too.
"It is getting stronger as the
technological revolution moves companies rapidly from smallcap to midcap,"
Mr. Bissell says.

---

Friday's Market Activity

Soaring energy prices knocked market averages sharply lower.

American Express lost $1.50 to $59.31, Chase Manhattan dropped 1.66 to 49,
and General Electric, which has an
exposure to the group through its financial-services operations, gave up 2.13
to 56.69.

The group also suffered from a cooling in takeover speculation. Lehman
Brothers, for example, fell 8 to 142.50,
Goldman Sachs lost 4.25 to 124.75 and Bear Stearns gave up 4.75 to 65.

Higher oil prices helped Exxon Mobil rise 3.60 to 88.88. It reached a 52-week
high, its first since Dec. 9, while
Amerada Hess climbed 4.56 to 73.25, and touched a 52-week high of its own.

Database software company Oracle (Nasdaq) fell 6.63 to 78.31, with 60 million
shares changing hands. Despite
Oracle's announcement of strong quarterly earnings Thursday after the end of
normal trading, some analysts said
they were disappointed with the company's revenue growth.

Siebel Systems (Nasdaq), an Oracle competitor, added 4.19 to 99. However, i2
Technologies fell 3.69 to 172.19,
while Ariba lost 5.13 to 152.44, both on Nasdaq.

Red Hat (Nasdaq) lost 4.06 to 21.19. The Research Triangle Park, N.C.,
developer of open-source software products
posted a narrower-than-expected second-quarter loss, but left some analysts
disappointed.

Avon Products eased 50 cents to 41.19. The New York beauty-products marketing
concern said late Thursday the
Securities and Exchange Commission is investigating a $10 million charge the
company took in 1999 related to the
write-off of computer software.

Adobe Systems (Nasdaq) moved up 7.25 to 132.63. The San Jose, Calif.,
software developer reported fiscal
third-quarter earnings that topped forecasts.

Maytag fell 2.19 to 33.63, after the Newton, Iowa, home-appliance maker
warned about second-half earnings.

Ivax rose 2.38 to 43.63. The Miami pharmaceutical maker received final
approved from the Food and Drug
Administration for its generic equivalent of Bristol-Myers Squibb's cancer
drug Taxol.

Carnival Corp. gained 1.75 to 22.88, while rival Royal Caribbean Cruises
advanced 1.75 to 24.50. The stocks rose
on hopes that the withdrawal from the market of a smaller competitor will
ease excess capacity.

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

Politics & Policy
The Homestretch
By Gerald F. Seib

09/18/2000
The Wall Street Journal
A40
(Copyright (c) 2000, Dow Jones & Company, Inc.)

The Gore and Bush campaigns will argue over which did better in the debate
over debates, but one winner is clear:
PBS news anchor Jim Lehrer. Not only will he moderate all three presidential
debates sponsored by the bipartisan
Commission on Presidential Debates, but, under an agreement completed over
the weekend, he will do so under
rules giving him more flexibility than ever before. He will be free to bore
in on a specific subject and extend
discussion of it, rather than simply move on to other questions as in the
past. Under the debate agreement, the two
candidates will stand behind lecterns at the opening debate Oct. 3, sit
around a table in talk-show fashion on Oct.
11, and debate in a town-hall format on Oct. 17.

In other campaign developments:

-- Housing policy? In the closest thing yet to a campaign debate on housing
issues, the Republican party's Web
site is trying to entice listeners to dial in to radio talk shows and charge
that Democrats are running "The Slumlord
Ticket." Why? On top of a recent controversy over complaints by tenants of a
rental house in Tennessee owned by
Vice President Gore, the Web site touts the story of a similar headache now
faced by running mate Joseph
Lieberman. An immigrant mother was evicted when she was injured and fell
behind in rent payments at a property
owned by the estate of Mr. Lieberman's wealthy late uncle; Mr. Lieberman is
executor of the estate.

-- A fish story: To the list of the perils of holding public office, now add
the danger of flying fish. Just ask Rep. Helen
Chenoweth-Hage, an Idaho Republican, who was pelted with rotting salmon
thrown by a 20-year-old protester at a
hearing on Western wildfires held in Montana over the weekend. The protester
cried out that the conservative
congresswoman is "the greatest threat to the forest" and uncorked the salmon.
She wasn't hurt, but the Associated
Press reports that "the hearing was recessed while she cleaned salmon from
her hair and jacket."

--- Money Watch

Top "double givers" -- donors of soft money to both parties

In millions

DONOR DEMOCRATS REPUBLICANS TOTAL

AT&T $1.1 $1.8 $2.9
Microsoft 0.8 1.0 1.8
Enron 0.4 1.2 1.7
Freddie Mac 0.6 1.0 1.5
Philip Morris 0.2 1.4 1.5
SBC Comm. 0.7 0.5 1.2
America Online 0.6 0.6 1.2

Source: Common Cause

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

GE Tops Fortune's Ranking of the World's Most Admired Companies; Key To
Staying Ahead of the Pack Is Innovation

09/18/2000
Business Wire
(Copyright (c) 2000, Business Wire)

NEW YORK--(BUSINESS WIRE)--Sept. 18, 2000--For the third straight year,
General Electric, on the strength of its
management team and innovative global strategy, is No. 1 on FORTUNE's ranking
of the most admired companies
in the world. FORTUNE's third annual list of Global Most Admired Companies
consists of 379 companies in 27
industries, with 25 selected as "all-stars" for exemplifying leadership on a
global scale. Cisco Systems came in at
No. 2 on the all-star ranking (up from No. 8 in 1999); other repeat
performers in the top ten include Microsoft, whose
battles with government regulators on one flank and perceptions of a
foundering Internet strategy on the other
caused it to slip to No. 3 from No. 2; Intel (No.4); and Wal-Mart Stores,
which moved up to No. 5 from No. 7. The
complete list of FORTUNE's Global Most Admired Companies appears in the
October 2 issue of FORTUNE and is
available at www.fortune.com as of Monday, Sept.18, at 8:30 a.m.

According to Nicholas Stein's article, "The World's Most Admired Companies,"
the schizophrenic market conditions
of the past year offer one reason why the Most Admired list looks so
different this year. As Stein writes: "The
winners are companies that demonstrated a new-economy style growth strategy
while maintaining an old-economy
approach to fiscal responsibility." And, as Vicki Wright, global managing
director of the Hay Group consultancy that
helped produce the list with FORTUNE notes: "There is something new this year
in how we perceive companies. It
is the emphasis on how much companies are capable of looking forward. In a
year when old-economy companies
have not seen their share price perform, those that have managed to weather
both the old- and new-economy
storms will flourish."

Notable changes among this year's Global Most Admired list include Home Depot
leaping from No. 20 to No. 9,
Toyota moving up from No. 16 to No. 10, and Citgroup advancing from No. 25 to
No. 18. Strong demand for Sony's
flat-screen TVs, digital cameras, and PlayStation game consoles helped the
company move up from 14 to 6.
Newcomers to this year's list -- Enron, Nokia, Charles Schwab, UPS, and
Goldman Sachs -- all embody business
strategies that bridge the old and new economic worlds. Companies that lost
their all-star status -- IBM,
Hewlett-Packard, AT&T, Procter & Gamble, DaimlerChrysler -- have been plagued
with difficulties integrating new
business concepts.

Many of the industry categories also experienced significant turnover. Among
airline companies, Singapore Airlines,
which didn't even make last year's list, took the top spot from Southwest.
British Airways, hobbled by internal
conflict and heightened competition, fell from third to seventh. Though Intel
held on to the top ranking in the
computer hardware and software category, Sun Microsystems rode the dot-com
revolution to second place, up from
sixth last year, while Dell, facing a wireless (and PC-less) future, fell
from fifth to eighth. And in the white-hot
network communications and Internet technology sector, all-star newcomer
Nokia edged Cisco Systems for top
billing.

To find out what unique management qualities set these companies apart from
their peers, the Hay Group surveyed
the Most Admired Companies and their less admired peers about the performance
measures they use to chart the
progress of their companies.

According to their findings, Most Admired companies set more challenging
goals, link the compensation of their
executives more closely to the completion of those goals, and are generally
more oriented toward long-term
performance.

To complete the list of the world's most admired companies, FORTUNE consulted
the experts: the business
executives who run companies, and the analysts who study them. Global
companies were rated according to eight
criteria: quality of management; quality of products or services;
innovativeness; long-term investment value; financial
soundness; ability to attract, develop and retain talent; community
responsibility; and use of corporate assets. To
reflect this list's international scope, a ninth category was added: global
business acumen. A company's overall
ranking is the average of the scores of all nine attributes. Companies are
ranked within their industry, and the top 25
-- the All-Stars -- are culled from across all industry groups.

The October 2 issue is available on newsstands beginning September 25. For
more information, or to schedule an
interview with a FORTUNE writer or editor, contact Nyssa Tussing at
212/522-6724.
The 2000 FORTUNE Global Most Admired All-Stars

2000/1999 Company Industry
Rank

1/1 General Electric Electronics, electrical equipment
2/8 Cisco Systems Network Commun., Internet Tech.
3/2 Microsoft Computer hardware, software
4/4 Intel Computer hardware, software
5/7 Wal-Mart Stores Retail: general, specialty
6/14 Sony Electronics, electrical equipment
7/9 Dell Computer Computer hardware, software
8/NR Nokia Network Commun., Internet Tech
9/20 Home Depot Retail: general, specialty
10/16 Toyota Motor Motor vehicles
11/22 Southwest Airlines Airlines
12/11 Lucent Technologies Network Commun., Internet Tech.
13/NR Goldman Sachs Securities, diversified financials
14/5 Berkshire Hathaway Insurance: property, casualty
15/3 Coca-Cola Beverages
16/NR Charles Schwab Securities, diversified financials
17/17 Johnson & Johnson Pharmaceuticals
18/25 Citigroup Securities, diversified financials
19/15 Ford Motor Motor vehicles
20/13 Pfizer Pharmaceuticals
21/10 Merck Pharmaceuticals
22/21 Walt Disney Entertainment
23/19 American Express Securities, diversified financials
24/NR United Parcel Service Mail, pkg., freight delivery
25/NR Enron Energy transmission providers

NR = not ranked in 1999

CONTACT: FORTUNE, New York Nyssa Tussing, 212/522-6724

08:33 EDT SEPTEMBER 18, 2000

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


The 3.8 hours was added to the January and not Febuary OH term for WTG 11.
The 3.8 hours was added back because the Emergency Oil Loss was interpreted
by me to be a failure not directly due to the icing.  Icing alone shouldn't
cause an emergency oil loss.  I Added it back in to prevent double counting
of the turbine offlline.  If  the oil loss indication was directly due to
icing then we should lower the MAA availability for turbine 11 in January to
correct for 3.8 hours.   Let me know what you want us to do.

For the future, we analysts will always assume that a failure that occurs
during icing and that isn't reasonably due to icing alone will be treated as
a separate (independent) failure.   Please  indicate clearly in the manual
log that a turbine failure (or apparent failure) was directly related to
icing or other cause if the failure  isn't obviously expected due to icing
alone.  Breakage of anemometer cups is an example of a failure that would
clearly be expected as a result of icing alone.

Leonard Mason
04/09/2002 09:04 AM
To: Mark V Walker/EWC/Enron@ENRON
cc: Bo Thisted/EWC/Enron@Enron, Kurt Anderson/EWC/Enron@ENRON

Subject: OH Reference on February Monthly Report

Mark, you stated 3.8 hours was added to the OH hours of turbine #11 at the
bottom of the OH calculations sheet. I believe this was added because the
Emergency Oil Level Fault was not reset on that machine because of the icing
conditions we were experiencing at the time. Is this correct?


The New Power Company, the first national residential and small business
energy service provider in deregulated
markets was launched today with strategic investors and partners including
Enron, IBM and America Online.

H. Eugene Lockhart has been named President and Chief Executive Officer of
the company.  He was formerly President
of AT&T Consumer Services and Chief Marketing Officer of AT&T, as well as
President of Bank America's Global Retail
Bank and President and CEO of MasterCard International.  Lockhart is joined
by a number of high-level executives from
the telecommunications and financial services sectors as well as several
former Enron executives specializing in energy
commodity pricing, marketing, risk management and government regulatory
affairs.

The former Enron employees include Jim Badum, formerly Managing Director of
Consumer Services at EES, John Henderson,
formerly Vice President of Retail Risk Management for EES, Dave Eichinger,
formerly Vice President of Corporate Development
for Enron Corp., and Kathleen Magruder, formerly Vice President of Government
Affairs for Enron Corp.  Lou Pai, Chairman and
CEO for EES will serve as non-executive Chairman of The New Power Company.

Enron will provide The New Power Company with energy commodity pricing, risk
management, and government/
regulatory affairs.  Ken Lay is quoted in the news release, "We've studied
the residential and small business market
for several years and believe this is the optimal way to provide value to
these customers.  By assisting in setting up
an independent company, Enron is able to leverage its core competencies of
energy and risk management, while
partnering with other industry leaders to give The New Power Company
extraordinary and immediate depth and
capability."  Ken will also serve on the Board of Directors.

The New Power Company is scheduled to initially provide service in
Pennsylvania and New Jersey in the second half
of 2000.  The company will be headquartered in Greenwich, Connecticut, with
some operations in Houston.

For more information, please log onto their website at
http://www.newpowercompany.com.


Hi Kevin:  My sister, Michelle Otteman, suggested I forward my resume' to you for Enron's consideration.  As you can tell from the document my primary interest/background is Finance; however, in keeping with Enron's reputation for innovation, I am "open".

I appreciate your help.  Recently the temp in Michigan has been in the 90's; I think I could get used to Houston.
Thanks again,
Gene


Mark,

With the completion of the Senior Management Report for March now complete we
need to start on the April report.   Please fill in the EA numbers for April
when they are available and return this spreadsheet to me.

Thanks,
Hollis


IntercontinentalExchange
                                                                                Firm Power Price Bulletin
                                                                                For Power Delivered on Tuesday, November  27, 2001
                                                                                (Trade Date of Monday, November  26, 2001)
Click here to access index history


I will be out of the office visiting El Paso Electric and PNM through Friday evening. Please see Ryan with any questions regarding trading. I can be reached on my cell phone at 503-887-3449.
Thanks,

Bill


Bob and Matt just finished inputting deals.

Kerri Thompson@ENRON
11/27/2000 01:58 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: tfs checkout

missing deals for bob:

sells williams
94.00
50 mw
Q2
pv
peak

buys williams
90.00
50 mw
Q2
sp15
peak

missing deals for matt:

sells williams
94.00
25 mw
Q2
pv
peak

buys williams
90.00
25 mw
Q2
sp15
peak


Hi Kam,
I am working with Toni Graham in reviewing resumes for your Risk Management
position, Req. # 108785. I have reviewed all of the postings to date.  These
were the ones that  were worth sending to you.  Please review and let me know
which ones you would like me to phone screen. I will actively be looking for
more resumes tomorrow as well.

Thanks!

Imelda Trevino
Human Resources
ext.5-2539


----- Forwarded by Ricardo Charvel/NA/Enron on 02/08/2001 05:20 PM -----

	Ricardo Charvel
	02/08/2001 05:14 PM

		 To: Mario Max Yzaguirre
		 cc:
		 Subject:

Max,

Attached you will find a copy of the briefing document that Steve Kean and
Rick Shapiro asked me to prepare for Mr. Lay.  As you requested, I have kept
the information on commercial issues to projects which have been closed.

As you will see, the document is focused on policy and regulation.  I am
concerned about Mr. Lay having enough information on energy imports since it
is one of the points that the Secretary may touch upon.  If you consider it
appropriate, maybe you could inform Mr. Lay on this matter.

I sincerely regret that you feel that there is a misalignment of commercial
and regulatory interests.  Hopefully when deregulation happens and business
grows the perception of this misalignment will disappear.

I agree with you that communication has not been optimal in the last months.
As you have been concentrated on the Vitro deal, I myself was very involved
with the transition team.  I will be flying to Monterrey once a week to see
you so that we can share information on our meetings with different
government authorities as well as the commercial information that you think
is relevant for me.

Best,

Ricardo


Yeah, it's a long story but basically, he doesn't have a solid offer for me.
But he has connections with some REO directors of some good companies like
Advanta and he said he would give me great recommendations.  He has already
given my name and his recommendations to the REO director of Advanta and I
guess that guy wants to talk to me.

-----Original Message-----
From: Mark.Guzman@enron.com [mailto:Mark.Guzman@enron.com]
Sent: Tuesday, November 07, 2000 12:21 PM
To: Katie.Trullinger@wfsg.com
Subject: RE: FW: What's up?

The fact that you are moving down there has nothing to do with whether or
not I do.  I was just joking.  Stop be so over analytical.  :)   Did you
talk to Danny about the offer?


I'll be there.  I didn't sign up for the organized activities.  I'll just be
hanging out.  The Swap Group is having dinner Wednesday night, if you haven't
already made plans do you want to join us, we're about 15 in number right now!

	Andrea Calo@ENRON
	04/26/2001 01:07 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Hi!!!

Hey Tana,

I haven't seen you on any activity list for the conference.  Will  you be
attending?

Regards,

Andrea


since my team sucks so bad, i want to bet you $1000 that i have a better
record than you this year

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

Not really, since I had the chance to draft Stephen Davis and passed... While
I also asked to trade down 2 slots to get Stephen Davis, I am now very
pleased with the Kult, negotiations with the draftees seems to be going well
and we should have most with the exception of Bledsoe and Terrell in camp by
weeks end...

	Enron North America Corp.

	From:  Eric Bass                           08/21/2000 10:01 AM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

so you are basically saying that you wouldn't take stephen davis for gonzo

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

No sir...

	Enron North America Corp.

	From:  Eric Bass                           08/21/2000 09:40 AM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

i repeat, uou have no offer?

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

He was my number 2 pick, and I don't want to hear about me drafting him too
early, else we would not be having this correspondence...

	Enron North America Corp.

	From:  Eric Bass                           08/21/2000 09:22 AM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

so, there is nothing on my team that you are willing to give up gonzo for, i
find that hard to believe

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

I took a peek at your squad and no go... Thrill kill will rule this bitch...

	Enron North America Corp.

	From:  Eric Bass                           08/21/2000 09:09 AM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

i will give you walls and terrence wilkins

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Gonzalez

Your top wide receiver and tight end, and I might throw in my fourth
receiver...

	Enron North America Corp.

	From:  Eric Bass                           08/21/2000 08:57 AM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: Gonzalez

What do you want for tony gonzalez?


What's up with Laine and the incompetence routine?


Looks like some good news.

 -----Original Message-----
From: 	Maestas, Gary
Sent:	Wednesday, January 09, 2002 7:09 AM
To:	Gottsponer, Morgan; Alters, Dennis
Cc:	Pribble, Dan; Keller, John R.
Subject:	FW: Station 4 overhauls

FYI,
An innovative solution to resolve a major outage.  Jerry Graves and Darrell Schoolcraft were both tagged on the e-mail.  We plan on bringing the Bearing Manufacturer in to record alignment readings when the unit is scheduled down for testing safety devices. After the bearing is manufactured we will rescheduled the unit down to complete the bearing replacement and compressor work.  Just wanted to keep you guys in the loop.
Any questions, give me a call.
Gary
713-345-5191
 -----Original Message-----
From: 	Morse, Ronnie
Sent:	Tuesday, January 08, 2002 6:30 PM
To:	Gallup, Team; Gallup-Sta4, Team; Smith, Rick; Hendricks, Jonny; Johnson, Randy; Francis, Matt
Cc:	Jolly, Rich; Maestas, Gary; Graves, Jerry; Schoolcraft, Darrell
Subject:	Station 4 overhauls

Station 4 overhaul meeting.

  Today discussions took place in reference to the overhaul work scopes for all three units at station 4. Participants included  Jonny Hendricks, Randy Johnson, Rick Smith, Matt Frances, and myself. From the Gallup team we had Pat Troncoso, Walt Rhoda, and Robert Stearns. We also had Roy Smith on the Phone for discussion on unit 401.

  During discussions on unit 401 which is the line bore project we discussed option to correct bearing problems related to the alignment on unit 401. It was suggested  that the problem could probably be corrected by installing a custom built bearing in the journal that appears to be out of align with the rest. We are making arrangements to take the unit down so that measurement can be taken so the custom bearing can be built. By going this route the outage time required to complete will be significantly reduced as will as the overall cost. The original outage was 40 days. Now we should be able to complete the work indicated on the scope in about 14 days. We are still planning to complete the compressor work that was in the scope along with R&R on turbo coolers and some miner upper end work.

  Scope of work for unit 402, and 403 remains pretty much the same. The only thing that was changed from the original scope was the plan to change all main bearings on both units. At this time we do not see any reason for that so none will be changed. The Gallup team plans to boreascope the units during there upcoming outage for maintenance. If anything is identified by the team or by Matt during the analysis we will make the appropriate arrangements to cover that cost during our outage.

  Please take a look at the attached scopes to verify that the changes we discussed are complete and nothing is left out.

Thanks for everyone's participation!

Ronnie.....


Sorry, it was on the slow boat, in interroffice mail back from Steve, I just
got it.  I'll fax a copy back to the company today and follow with an
original by fedex this everning.

	Fred Philipson/ENRON@enronXgate
	05/30/2001 10:38 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: RE: NDAs for Pan Handle Eastern Pipeline co

Thanks.  Can you mail me when you get it?  If I don't hear from you by end of
week, I'll call Steve.

 -----Original Message-----
From:  Jones, Tana
Sent: Tuesday, May 29, 2001 9:19 AM
To: Philipson, Fred
Subject: Re: NDAs for Pan Handle Eastern Pipeline co

No, I have not received the fully executed document yet from Steve.

	Fred Philipson/ENRON@enronXgate 05/29/2001 09:14 AM 	   To: Tana
Jones/HOU/ECT@ECT  cc:   Subject: NDAs for Pan Handle Eastern Pipeline co

Tana,

Just a follow up.  Did you happen to receive the above from Steve Hotte of
ETS?  If so, has a copy been forwarded to Pan Handle Eastern Pipeline co?


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		Dec. 11, 2000 Volume 5.50

		Letter from the editor

		We're always tinkering with one area of the site or another trying to make it
better.

		This week, we've made some rather significant changes to the Deaths page on
the site. And we're working on several more.

		For starters, we've combined the pages with the news articles and the local
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is why we also are working on a routine to make the computers do this job.)

		Another ongoing programming task for this page is to develop a true archives
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		Mike Read
		Editor "Pro-Tem," HoustonChronicle.com News
		mike@chron.com

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John,

Thanks. Stinson will be able to join us for dinner. He is opting out of
the paper due to his big workload but we can get his perspective on
the last 8 years he spent at Enron.

Vince

"John D. Martin" <J_Martin@baylor.edu> on 11/28/2000 09:44:17 AM
To: vkamins@enron.com
cc:
Subject: 2001 FMA European Conference

Here's the info on the European conference.  Just for your files.

John

>Date: Tue, 28 Nov 2000 08:40:39 -0500
>From: Karen Wright <wright4u@earthlink.net>
>Subject: 2001 FMA European Conference
>To: kwright@fma.org
>X-Mailer: Mozilla 4.5 [en] (Win98; I)
>X-Accept-Language: en,pdf
>
>2001 FMA European Conference
>
>The Fifth Annual European Meeting of the Financial Management
>Association International (FMA) will be held May 31 and June 1, 2001 at
>the Hotel Sofitel (Rive Gauche) in Paris, France.  FMA,s European
>Meeting brings together academicians and practitioners with interests in
>financial decision-making. The meeting provides a forum for presenting
>new research and discussing current issues in financial management,
>investments, financial markets and institutions, and related topics.
>Keynote addresses and other special presentations will be held in
>addition to research paper presentations.
>
>Paper Submissions
>Research Papers.  The program includes traditional research paper
>presentations.  Criteria used to determine the suitability of these
>papers for the program include the nature of the research problem,
>implications of the proposed research, the quality of the research
>design, and the expected contribution of the research to the
>literature.  Please note that the purpose of these sessions is to
>present new and unpublished research.
>
>Submission Fee. There is no submission fee for the FMA European
>Conference.
>
>Submissions. Please follow these steps:
>Complete the Presentation Form that can be downloaded at
>www.fma.org/paris.htm.  Carefully select the subject code on the
>Presentation Form that most closely describes your research.  The code
>number you select will be used to select reviewers for your proposal.
>
>Send six (6) copies of your completed paper, along with the completed
>Presentation Form, to the FMA office (Financial Management Association,
>University of South Florida, College of Business Administration, Tampa
>FL 33620-5500, USA).
>Please note that only completed papers will be accepted for the FMA
>European Conference review process.
>
>The paper submission deadline is Friday, December 1, 2000.
>
>You will receive an electronic confirmation of your submission within
>six weeks of its receipt by the FMA office, and you will be notified of
>the results of the reviewing process by the middle of February, 2001.
>
>Competitive Paper Awards
>The Financial Management Association International is pleased to
>announce that four (4) $1,500 awards will be presented in conjunction
>with the 2001 FMA European Conference.  The "Young Scholars" award will
>be presented to the best paper authored by a Ph.D. student (or
>equivalent) or recent Ph.D. (or equivalent) graduate.  Three additional
>$1,500 awards will be presented to the papers deemed "Best of the Best"
>by the members of the 2001 FMA European Conference Competitive Paper
>Awards committee. Please note that these awards will be made only if, in
>the opinion of the FMA Awards Committee, a paper warrants such a
>decision. The decisions of the FMA Awards Committee are final.
>
>Accepted Papers. If your proposal is accepted, the version of the paper
>you submit will be sent to its discussant as soon as he/she is
>identified. You are obligated to send the final version of your paper to
>the discussant and session chair by April 27, 2001.  You also are
>obligated to present your paper in a professional manner at the assigned
>FMA program session.
>
>The collegiality of the meeting provides a very special opportunity for
>participants to share their work and to hear about the work others are
>doing.  Thus, individuals whose papers are accepted for presentation at
>the 2001 FMA European Conference will be expected to either chair a
>session or discuss a paper.
>
>Program Co-Chairs
>
>Francois Degeorge
>HEC Paris
>1 rue de la Lib,ration
>78351 Jouy en Josas Cedex
>France
>33-1-39-67-72-34 (ph)
>33-1-39-67-94-34 (fax)
>degeorge@hec.fr
>
>Kent Womack
>Dartmouth College
>Amos Tuck School
>Hanover, NH 03755
>1 603 646 2806 (ph)
>1 603 646 1308 (fax)
>kent.womack@dartmouth.edu
>
>Additional Opportunities For Participation
>
>Session Chairperson or Discussant.  If you wish to serve as the
>chairperson of a session or paper discussant, but are not submitting a
>paper, please complete the Participation Form which can be downloaded
>from www.fma.org/paris.htm.  Submit the completed form to the FMA office
>by December 1, 2000. Session organization will take place in March,
>2001.
>
>Deadline Summary
>
>Completed Papers:  December 1, 2000
>Chairperson/Discussant Requests:  December 1, 2000
>
>
>
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


Dear Mark; Thank you for your nice message.   The reference to Macomb
was my trip down to the Western U game on Nov 25.  I thought I told you about
the Lehigh runaway 37-7.  Uncle Dave went to Knox College in Galesburg and I
went thru the Knox campus and commented to Dave.  The game so inspired me I
went to the Delaware game on Dec 2 and came back to Earth as Lehigh lost
47-24.  The score was higher than the quality of the game Indicated but the
best team won.                          Delaware lost yesterday to Georgia
Southern  who will play Montana U next Saturday for the NCAA Class-11
Championship.
      I will be looking forward to the second newsletter.  Mother and I
cleared out last Friday as two young ladies came in to clean our Condo for
the first time.  They did a super job and we are going to have them come
every two weeks. We will not have to do any heavy work from now on.  I have
joined the Kiwanis Golden "K" which meets weekly and is a group of 'OVER 55"
retirees.  Should be fun as I already know many of them.
     I got a list of the    Senior Courses for the Spring semester.  I will
register early to make sure I get the computer course and learn how to use
this thing fully.
     I will on line again soon   Mother and I send LOTS OF LOVE AND KISSES.
DAD


Thursday, usual time?


Below is the draft of our governance which I think works.  Let me know your thoughts and possibly we can discuss at this morning's meeting.  I will be participating by phone from the airport as I am on my way to Stamford.

As we move forward we have two huge tasks to complete at the same time, the integration with UBS Warburg and the re-start of our business.    The UBS corporate governance facilitates the creation of several committees which will meet on a regular basis to resolve issues and report on progress.  Within the UBS framework we will be creating a 'Transitional Steering Committee',  'Integration Committee' and 'Gas and Power Operating Committee'.

UBS has already created the Integration Committee which we will merge into.

Dave Forster will be attending all of these groups in the early weeks to ensure consistency and good communication.  Dave will also act as our point person for Mark Bridges from UBS, ensuring the simplest and most effective methods of communication are in place for both parties.

This email outlines the governance structure that will be formalized with immediate effect:

1.	Transitional Steering Committee:
This committee will be responsible for the overall management and co-ordination of the integration efforts for both the initial Launch Date and the later Disentanglement Date at the end of 2002.
Committee Members:
Mike Hutchins (co-chair)
Greg Whalley (co-chair)
Louise Kitchen
Pat O'Donnell
Mike Bolin
Proposed Logistics:
This committee will meet on a weekly basis until shortly after the Launch Date, and then bi-monthly thereafter until December 31 2002.
Minutes will be distributed to senior UBS and Enron management only.
Proposed Time	- Wednesday 8:30am CST

2.	Integration Committee:
This committee will be responsible for the day-to-day management and co-ordination of the integration efforts for both the initial Launch Date and the later Disentanglement Date at the end of 2002.  Any issues, which this committee cannot resolve, will be escalated to the Transitional Steering Committee.

Proposed UBS Energy Committee Members:
Louise Kitchen (co-chair)
Pat O'Donnell (co-chair)
Mark Bridges
Sally Beck  - Operations
Mark Haedicke - Legal
Wes Colwell - Financial Operations
Bill Bradford - Credit
David Port - Market Risk
Jay Webb - IT
Jenny Rub - Infrastructure
Peter Keohane - Canada
David Forster - ubswenergy.com
UBS counterparties
Proposed Logistics:
This committee will meet on a weekly basis until reviewed at December 31 2002.
Minutes will be distributed to the Transitional Steering Committee and team members as appropriate.
Time - Thursday 9:00am CST

3. 	Gas and Power Operating Committee:
This committee will be responsible for the operational running of the Gas and Power Trading business.   The initial focus of this group will be the re-starting of the business. Following the relaunch the purpose of the Management Committees will be to push through its strategic plans and targets globally, to be able to react to market changes quickly, and provide a forum for communication across all locations.  These committees should also maintain, and develop further, any synergies between the Gas and Power Business and other UBS businesses.

Proposed Committee Members:
Louise Kitchen (co-chair)
Greg Whalley (co-chair)
Tim Belden
Chris Calger
John Lavorato
Kevin Presto
Hunter Shively
Rob Milnthorp
Plus ad hoc members of the Logistical support functions as and when required.
?Proposed Logistics:
This committee will meet on a weekly basis but not before March 2002.

Prior to March 2002, this committee will be replaced by two sub-committees - the Operational Re-start Sub-Committee and the Commercial Re-start Sub-Committee.

3(i)		Operational Restart Sub-Committee
This subcommittee will be responsible for ensuring that the support functinality is full available at the restart date.

Proposed Sub-Committee Members:
Louise Kitchen (co-chair)
Pat O'Donnell (co-chair)
Mike Bridges
Sally Beck  - Operations
Mark Haedicke - Legal
Wes Colwell - Financial Operations
Bill Bradford - Credit
David Port - Market Risk
Jay Webb - IT
Jenny Rub - Infrastructure
Peter Keohane - Canada
David Forster - ubswenergy.com
Proposed Logistics:
This sub-committee will meet weekly until disbanded.
Time Tuesday 8:00am CST

3(ii)	Commercial Re-start Sub-Committee
This subcommittee will be responsible for ensuring that the UBS Warburg Energy Counterparties are capable of transacting with our new company in the shortest time possible and in the most efficient way for both the counterparty and UBS Warburg Energy.

Proposed Sub-Committee Members:
Louise Kitchen
Bryan Murtaugh - UBS Legal
Mark Taylor
Elizabeth Sager/Leslie Hansen
Mary Cook/Jeff Hodge
Bill Glass
Bill Bradford
Peter Keohane
Barry Tycholiz
Frank Vickers
Laura Luce
Rob Milnthorp
Chris Calger
David Forster
Other members to be announced
Proposed Logistics:
This sub-committee will meet weekly until disbanded.
Time Tuesday 10:00am CST

Tammie will notify each of you of the rooms etc.


Mark Haedicke will be out of the office from Tuesday, May 15, through Monday,
May 21.  During his absence please contact Lance Schuler (extension 3-5419)
or Julia Murray (extension 3-4794) for assistance.  Mark can be reached as
follows:

May 16-17 (Wednesday and Thursday nights)
The Miyako Hotel - Kyoto
Sanjo Keage
Kyoto, 605-0052
Japan
Phone:  81-75-771-7111/Fax:  81-75-751-2490

May 18-20 (Friday through Sunday nights)
Imperial Hotel - Tokyo
1-1 Uchisaiwai - Cho
1 - Chome
Chiyoda Ku Tokyo, 100 8558
Japan
Phone:  81-3-3504-1111/Fax:  81 3 3581 9146

Enron Japan Corp.
Otemachi 1st Square Building
West 11th Floor
1-5-1 Otemachi, Chiyoda-ku
Tokyo 100-0004

Jane McBride:  Phone:  81-3-5219-4553/Fax:  81-3-5219-4510

Mark will return to the office on Tuesday, May 22.

Thank you.

Janette Elbertson
Enron Wholesale Services
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com


-----Original Message-----
From: 	Gonzalez, Esmeralda
Sent:	Wednesday, January 09, 2002 4:50 PM
To:	Deffner, Joseph; Haedicke, Mark E.; Miller, Don (Asset Mktg); Lavorato, John; Allen, Phillip K.; Beck, Sally; Belden, Tim; Bowen Jr., Raymond; Calger, Christopher F.; Colwell, Wes; Deffner, Joseph; Detmering, Tim; Duran, W. David; Gold, Joe; Hermann, Robert; Hickerson, Gary; Kaminski, Vince J; Mcclellan, George; McMahon, Jeffrey; Milnthorp, Rob; Murray, Julia; Redmond, Brian; Whalley, Greg; Arnold, John; Aronowitz, Alan; Arora, Harry; Baughman, Edward; Beyer, Michael J; Blesie, Brad; Bradford, William S.; Breslau, Craig; Brown, Michael; Bunnell, Don; Castleman, Kent; Collonges, Remi; Curran, Greg; Davis, Mark Dana; Dutt, Ranabir; Forster, David; Foster, Chris H.; Fox, Craig A.; Garner, Bruce; Gomez, Julie A.; Gonzales, Eric; Grigsby, Mike; Hedstrom, Peggy; Hermans, Greg; Herndon, Rogers; Hirl, Joseph; Hodge, Jeffrey T.; Hodges, Georgeanne; Holzer, Eric; Jones, Robert W.- HR Exec; Josey, Scott; Keel, Allan; Kelemen, Andy; Kinneman, Jeff; Kitagawa, Kyle; Knudsen, Sheila A.; Kohli, Sandeep; Krishnarao, Pinnamaneni; Lagrasta, Fred; Leach, Doug; Lemmons Jr., Billy; Lewis, James C.; Lewis, Richard; Luce, Laura; Lydecker Jr., Richard; Malcolm, Rodney; Martin, Thomas A.; McCullough, Travis; Mcdonald, Michael; McMichael Jr., Ed; Melendrez, Jesus; Miller, Don (Asset Mktg); Miller, Michael; Nath, Tani; Neal, Scott; Neyman, Jesse; Novak, John; O'Day, Nicholas; Oxley, David; Parquet, David; Patrick, Michael K.; Perlman, Beth; Pickering, Mark; Presto, Kevin M.; Quilkey, Paul; Reck, Daniel; Rexrode, Stuart; Roberts, Mike A.; Sager, Elizabeth; Sanders, Richard B.; Sandt, Jim; Sayers, Rod; Schuler, Lance (Legal); Schwieger, Jim; Sekse, Per; Seyfried, Bryan; Shanbhogue, Vasant; Shapiro, Richard; Shively, Hunter S.; Staley, Stuart; Sturm, Fletcher J.; Swerzbin, Mike; Tawney, Mark; Taylor, Mark E (Legal); Thompson, John (London); Tricoli, Carl; Tweed, Sheila; Tycholiz, Barry; Vickers, Frank; Wantschek, Lloyd; Whitt, Mark; Wiggs, Brett; Young, Steve; Zipper, Andy; Zufferli, John
Cc:	Daniels, Eddy
Subject:	Sent on behalf of Mark E. Haedicke

Respond by January 10, 2002 and no later than 4:00 p.m.

Enron North America Corp. and  Enron Net Works LLC are circulating this Questionnaire to their directors and officers to develop and verify information that will be used in connection with the proposed sale of all the business of wholesale trading of natural gas and electricity with customers in North America. In a nutshell, we need to disclose any transactions between you and Enron Corp., Enron North America Corp. or Enron Net Works relating to the trading business since September 30, 1999.

We expect to be in position to sign the purchase documents upon completion of the auction scheduled for Thursday, January 10, 2002.  Unfortunately, that means we need your responses to the questionnaire as soon as possible, and in no event later than 4:00 p.m. of January 10, 2002.

Regards,

Mark E. Haedicke


Please note:

Per Sally, the 9:00 AM Doorstep meeting scheduled for Friday (tomorrow) is
being shortened to 30 minutes (now 9:30-10:00 AM).

Thanks,
Patti x39106


the broker has 23,775 as total mws, and also has a fee of .0075.