>
>
> Dr. Levine:
>     I found this article quite useful in understanding the evolution of
> the U.S. monetary policy.  Do you think this is appropriate for the
> entire class?
> Thanks,
>
> -Jay Iyer
>
> http://www.frbsf.org/econrsrch/wklyltr/wklyltr99/el99-04.html
>
>
> Economic Research
>
>
>
>
>
>
> FRBSF Economic Letter
>
>
>
>
>
>
> Number 99-04; January 29, 1999
>
>
>
>
>
> ----------
>
>  <../index.htm>Economic Letter Index
>
> The Goals of U.S. Monetary Policy
>    * The evolution of the Fed's legislative mandate
>    * The debate about the Fed's current mandate
>    * References
>
> ----------
> The Federal Reserve has seen its legislative mandate for monetary policy
> change several times since its founding in 1913, when macroeconomic policy
as
> such was not clearly understood. The most recent revisions were in 1977 and
> 1978, and they require the Fed to promote both price stability and full
> employment. The past changes in the mandate appear to reflect both economic
> events in the U.S. and advances in understanding how the economy functions.
> In the twenty years since the Fed's mandate was last changed, there have
been
> further important economic developments as well as refinements in economic
> thought, and these raise the issue of whether to modify the goals for U.S.
> monetary policy once again. Indeed, a number of other countries--notably
> those that adopted the Euro as a common curency at the start of this
> year--have accepted price stability as the new primary goal for their
> monetary policies.
>
> In this Letter, we spell out the evolution of the legislation governing U.S.
> monetary policy goals and summarize the debate about whether they could be
> improved.
>
> The evolution of the Fed's legislative mandate
>
> The Federal Reserve Act of 1913 did not incorporate any macroeconomic goals
> for monetary policy, but instead required the Fed to "provide an elastic
> currency." This meant that the Fed should help the economy avoid the
> financial panics and bank runs that plagued the 19th century by serving as a
> "lender of last resort," which involved making loans directly to depository
> institutions through the discount windows of the Reserve Banks. During this
> early period, most of the actions of monetary policy that affected the macro
> economy were determined by the U.S. government's adherence to the gold
> standard.
>
> The trauma of the Great Depression, coupled with the insights of Keynes
> (1936), led to an acknowledgment of the obligation of the federal government
> to prevent recessions. The Employment Act of 1946 was the first legislative
> statement of these macroeconomic policy goals. Although it did not
> specifically mention the Federal Reserve, it required the federal government
> in general to foster "conditions under which there will be afforded useful
> employment opportunities ... for those able, willing, and seeking to work,
> and to promote maximum employment, production, and purchasing power."
>
> The Great Inflation of the 1970s was the next major U.S. economic
> dislocation. This problem was addressed in a 1977 amendment to the Federal
> Reserve Act, which provided the first explicit recognition of price
stability
> as a national policy goal. The amended Act states that the Fed "shall
> maintain long run growth of the monetary and credit aggregates commensurate
> with the economy's long run potential to increase production, so as to
> promote effectively the goals of maximum employment, stable prices, and
> moderate long-term interest rates." The goals of "stable prices" and
> "moderate long-term interest rates" are related because nominal interest
> rates are boosted by a premium over real rates equal to expected future
> inflation. Thus, "stable prices" will typically produce long-term interest
> rates that are "moderate."
>
> The objective of "maximum" employment remained intact from the 1946
> Employment Act; however, the interpretation of this term may have changed
> during the intervening 30 years. Immediately after World War II, when
> conscription and price controls had produced a high-pressure economy with
> very low unemployment in the U.S., some perhaps believed that the goal of
> "maximum" employment could be taken in its mathematical sense to mean the
> highest possible level of employment. However, by the second half of the
> 1970s, it was well understood that some "frictional" unemployment, which
> involves the search for new jobs and the transition between occupations, is
a
> necessary accompaniment to the proper functioning of the economy in the long
> run.
>
> This understanding went hand in hand in the latter half of the 1970s with a
> general acceptance of the Natural Rate Hypothesis, which implies that if
> policy were to try to keep employment above its long-run trend permanently
> or, equivalently, the unemployment rate below its natural rate, then
> inflation would be pushed higher and higher. Policy can temporarily
reduce the
> unemployment rate below its natural rate or, equivalently, boost employment
> above its long-run trend. However, persistently attempting to maintain
> "maximum" employment that is above its long-run level would not be
consistent
> with the goal of stable prices.
>
> Thus, in order for maximum employment and stable prices to be mutually
> consistent goals, maximum employment should be interpreted as meaning
maximum
> sustainable employment, referred to also as "full employment." Moreover,
> although the Fed has little if any influence on the long-run level of
> employment, it can attempt to smooth out short-run fluctuations.
Accordingly,
> promoting full employment can be interpreted as a countercyclical monetary
> policy in which the Fed aims to smooth out the amplitude of the business
> cycle.
>
> This interpretation of the Fed's mandate was later confirmed in the
> Humphrey-Hawkins legislation. As its official title--the Full Employment and
> Balanced Growth Act of 1978--clearly implies, this legislation mandates the
> federal government generally to "...promote full employment and production,
> increased real income, balanced growth, a balanced Federal budget, adequate
> productivity growth, proper attention to national priorities, achievement of
> an improved trade balance . . . and reasonable price stability..." (italics
> added).
>
> Besides clarifying the general goal of full employment, the Humphrey-Hawkins
> Act also specified numerical definitions or targets. The Act specified two
> initial goals: an unemployment rate of 4% for full employment and a CPI
> inflation rate of 3% for price stability. These were only "interim" goals to
> be achieved by 1983 and followed by a further reduction in inflation to 0%
by
> 1988; however, the disinflation policies during this period were not to
> impede the achievement of the full-employment goal. Thereafter, the
timetable
> to achieve or maintain price stability and full employment was to be defined
> by each year's Economic Report of the President.
>
> The debate about the Fed's current mandate
>
> The Fed then has two main legislated goals for monetary policy: promoting
> full employment and promoting stable prices. With this mandate, the Fed has
> helped foster the exceptional performance of the U.S. economy during the
past
> decade. Still, some have argued that the Fed's mandate could be improved,
> especially in looking ahead to future attempts to maintain or
> institutionalize recent low inflation. Much discussion has centered on two
> topics: the transparency of the goals and their dual nature.
>
> The transparency of goals refers to the extent to which the objectives of
> monetary policy are clearly defined and can be easily and obviously
> understood by the public. The goal of full employment will never be very
> transparent because it is not directly observed but only estimated by
> economists with limited precision. For example, the 1997 Economic Report of
> the President (which has authority in this matter from the Humphrey-Hawkins
> Act) gives a range of 5 to 6% for the unemployment rate consistent with full
> employment, with a midpoint of 5.5%. Research suggests that there is a very
> wide range of uncertainty around any estimate of the natural rate, with one
> prominent study finding a 95% probability that it falls in the wide range of
> 4 to 7-1/2 % (see Walsh 1998).
>
> Price stability as a goal is also subject to some ambiguity. Recent economic
> analysis has uncovered systematic biases, say, on the order of 1 percentage
> point, in the CPI's measurement of inflation (see Motley 1997). In this
case,
> actual price stability would be consistent with measured inflation of 1%. In
> addition, at any point in time, different price indexes register different
> rates of inflation. Over the past year, for example, the CPI has risen about
> 1-1/2%, while the GDP price index has risen about 1%. Still, a transparent
> price stability goal could be specified as a precise numerical growth rate
> (or range) for a particular index (which could take into account any
biases).
> However, economists have also suggested other ways to enhance the
> transparency of policy. For example, publishing medium-term inflation
> forecasts might help to clarify the direction of policy (Rudebusch and Walsh
> 1998). Because the central bank has some control over inflation in the
medium
> term, its forecasts would contain an indication of where it wanted inflation
> to go.
>
> A second recent proposed modification to the Fed's goals involves focusing
to
> a larger extent on price stability and de-emphasizing business cycle
> stabilization. Some economists have argued that having dual goals will lead
> to an inflation bias despite the Fed's best attempts to control inflation.
> This argument stresses that the temptation to engineer gains in output in
the
> short run will overcome the central bank's desire to control inflation in
the
> long run. As a result of elevated inflation expectations of the public,
> inflation will end up being higher than the central bank intended, despite
> its best efforts. This "time-inconsistency" argument, as economists call it,
> coupled with the pain incurred in the 1970s as inflation skyrocketed and in
> the early 1980s as inflation was reduced to moderate levels, persuaded many
> that the primary goal of the central bank should be to stabilize prices.
>
> This view is embodied in the charter for the central bank in the new
European
> Monetary Union: "The primary objective of the European System of Central
> Banks is to maintain price stability. Without prejudice to the objective of
> price stability, the ESCB shall support the general economic policies in the
> Community." Among these latter policies are "a high level of employment" and
> "a balanced development of economic activities."
>
> Economists remain divided on the importance of the time inconsistency
problem
> and on the need to put primary emphasis on price stability at the expense of
> output stabilization. Some stress the fact that the central bank is the only
> entity that can guarantee price stability, and that this goal is not likely
> to be attained for long unless price stability is designated as the primary
> goal. Others find the arguments for time inconsistency implausible because
> policymakers, who are aware of the arguments about an inflationary bias and
> see the implications for inflation, can conduct policy without an
> inflationary bias (McCallum 1995). Still others argue that the abdication of
> other goals is irresponsible (Fuhrer 1997). Also, a good deal of empirical
> research using simulations of models of the U.S. economy suggests that a
> focus on dual goals can reduce the variance of real GDP (i.e., smooth the
> business cycle) while achieving an inflation goal as well (Rudebusch and
> Svensson 1998).
>
> While these issues are not yet resolved, the experience of the past two
> decades provides some support to those who think dual goals that lack
> transparency can function successfully. It is true that some countries
around
> the world have reduced inflation over this period while putting primary
> emphasis on explicit inflation targeting. But at the same time, with its
> current legislative mandate, the Fed also has had success in reducing
> inflation, while maintaining the flexibility of responding to business cycle
> conditions.
>
> John P. Judd
> Vice President and Associate
> Director of Research
>
> Glenn D. Rudebusch
> Research Officer
> References
>
> Fuhrer, Jeffrey C. 1997. "Central Bank Independence and Inflation Targeting:
> Monetary Policy Paradigms for the Next Millennium?" New England Economic
> Review January/February, pp.20-36.
> Keynes, John Maynard. 1936. The General Theory of Employment, Interest, and
> Money. Harcourt, Brace, and Company: New York.
>
> McCallum, Bennett. 1995. "Two Fallacies Concerning Central Bank
> Independence." American Economic Review Papers and Proceedings, vol. 85,
no. 2
> (May), pp. 207-211.
>
> Motley, Brian. 1997. "Bias in the CPI: Roughly Wrong or Precisely Wrong."
> <../el97-16.htm>FRBSF Economic Letter<../el97-16.htm> 97-16 (May 23).
>
> Rudebusch, Glenn D., and Lars E.O. Svensson. 1998.
> <http://www.iies.su.se/data/home/leosven/papers/rs.pdf>"Policy Rules for
> Inflation Targeting." NBER Working Paper 6512.
>
> Rudebusch Glenn D., and Carl E. Walsh. 1998. "U.S. Inflation Targeting: Pro
> and Con." <../wklyltr98/el98-18.htm>FRBSF Economic
> Letter<../wklyltr98/el98-18.htm> 98-18 (May 29).
>
> Walsh, Carl E. 1998. "The Natural Rate, NAIRU, and Monetary Policy."
> <../wklyltr98/el98-28.htm>FRBSF Economic Letter
> <../wklyltr98/el98-28.htm>98-28 (September 18).
>
> ----------
> Opinions expressed in this newsletter do not necessarily reflect the views
of
> the management of the Federal Reserve Bank of San Francisco or of the Board
> of Governors of the Federal Reserve System. Editorial comments may be
> addressed to the editor or to the author. Mail comments to:
>>
>> Research Department
>> Federal Reserve Bank of San Francisco
>> P.O. Box 7702
>> San Francisco, CA 94120
>
>

David I. Levine                 Associate professor
Haas School of Business    ph: 510/642-1697
University of California    fax: 510/643-1420
Berkeley CA  94720-1900                            email:
levine@haas.berkeley.edu
http://web.haas.berkeley.edu/www/levine/


We have a deal that's a sale to Virginia Power Energy Marketing, Inc. for
Jan-01 production. Virginia does not show the deal in their system. Can you
give me the name of Virginia's marketeer. The deal information is as follows:

Deal # 557929
Pipe: Tenn Gas
Day: 1/5/01
Volume: 2,690
Price: $10.00

Thanks,

Pamela Chism
5-8292


Please send me the time you have worked for the first of the month so that I can fill out your time sheet.

Thank you,

Amanda Rybarski
Gas Fundamentals
Office: (713) 853-4384
Fax: (713) 646-8453
Pager: (877) 482-0772
Cell: (713) 560-0934


Just a few comments on the Text:

You may wish to specify throughout that all time references are to "GMT"
The examples given for the offline nominations procedures imply that
nominations/re-nominations made by the customer are NOT effective until Enron
has  responded affirmatively - this is not how the underlying GTC reads
(under which such customer nominations/re-nominations become effective
without subsequent Enron's "confirmation")
On the last page , I would remove the reference to a Master, since this does
not currently apply to EnBank trades
Presumably , you are not now proceeding on the basis of a separate ATA (i.e.
Auctions Trading Agreement governing EOL access)?

Otherwise, I am happy with the form of Text.

Justin

Haakon Olafsson
14/02/2000 09:38
To: David Forster/LON/ECT@ECT
cc: Justin Boyd/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Jonathan
Whitehead/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT

Subject: Re: revised version

Just a couple of changes form the version Dave sent out at the weekend.

Rgds.

Haakon

David Forster
12/02/2000 23:59
To: Jay Webb/HOU/ECT@ECT, Rahil Jafry/LON/ECT@ECT, Awais Omar/LON/ECT@ECT,
Paul Goddard/LON/ECT@ECT, Justin Boyd/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc: Dave Samuels/LON/ECT@ECT, Haakon Olafsson/LON/ECT@ECT, Jonathan
Whitehead/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT, Amita
Gosalia/LON/ECT@ECT, Bob Shults/HOU/ECT@ECT

Subject: Site documentation

Jay: Here is the latest site documentation and the site map. Please call me
at any time if you have questions (cell: 713 562 8678)

Awais/Rahil/Paul: If you have any comments on the text, please let me know.
Note that this text has been approved by legal (mostly) and we are short on
time, so text changes will only be made for pressing reasons.

Justin/Mark/Haakon/Jonathan: Changes from last version appear redlined.

Thanks,

Dave


Ernest:

Happy New Year!  Is it too late to call on behalf of your wife?  I was
swamped in December and never got to it.  Let me know.

Take care.

Mark


Content-Transfer-Encoding: quoted-printable
Date: Mon, 07 May 2001 16:00:17 -0500
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "Justin Long" <jlong@bracepatt.com>, "Paul Fox" <pfox@bracepatt.com>
Cc: "Dan Watkiss" <dwatkiss@bracepatt.com>, "Ronald Carroll"
<rcarroll@bracepatt.com>
Subject: Calif. Gov. says near deal to buy SDG&E power grid
Mime-Version: 1.0
Content-Type: text/plain; charset="us-ascii"
Content-Disposition: inline

FYI

Monday May 7, 4:37 pm Eastern Time

Calif. Gov. says near deal to buy SDG&E power grid

LOS ANGELES, May 7 (Reuters) - California Gov. Gray Davis, seeking to piece
together a takeover of the state's power transmission grid, said Monday he
hoped to have an agreement by the end of the week to buy the high voltage
power lines owned by Sempra Energy (NYSE:SRE - news) utility subsidiary San
Diego Gas & Electric (SDG&E).

``I think that will be resolved, hopefully before the week is out ... I
believe we are very, very close to resolving that issue,'' Davis told a news
conference here.

Davis has made state ownership of the transmission grid a key part of his
plan to solve the state's energy crisis and revive its three cash-strapped
investor owned utilities.

SDG&E owns about 1,800 miles (2,897 km) of transmission lines. The deal is
believed to be priced at roughly $1 billion plus the assumption of around 200
million of debt, which equates to around 2.3 times book value

Davis has reached a tentative agreement to buy Edison International (NYSE:EIX
- news) unit Southern California Edison's transmission grid for $2.76
billion, also roughly 2.3 times its book value.

Similar talks to buy the grid belonging to San Francisco- based Pacific Gas
and Electric Co., a unit of PG&E Corp. (NYSE:PCG - news) collapsed in early
April when the utility put itself into voluntary bankruptcy protection.


Louise -

The attached is a very rough summary of the technology comparison.  We should be able to provide more information depending on your desired level of detail.

Regards,

Mitch Robinson
x33957


You are welcome.  What a neat idea - electronic thank you cards.

-----Original Message-----
From: Apple iCards [mailto:erb@mac.com]
Sent: Monday, October 29, 2001 2:51 PM
To: Corman, Shelley
Subject: Stacy Erb has sent you an Apple iCard

This iCard has been sent to you from Stacy Erb


The  Packers beat the Vikings 21  to  7 on Oct 2, 2000


For anyone else who needs it.

Bev
---------------------- Forwarded by Beverly Beaty/HOU/ECT on 11/27/2000 11:01
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Victor Haley" <Victor.Haley@dvn.com>
11/27/2000 11:27 AM

To: <beverly.beaty@enron.com>, <carlos.j.rodriguez@enron.com>
cc:
Subject: CO-OWNER VOLS 12/00

CO-OWNER VOLS  12/00

 - 1200Co-Owners Volumes to Enron.xls


Becky - I will read tonight, please call me tomorrow morning to dsicuss.  I
will be in by 7 am (853-4350).

Thanks - Jeff

Becky L Merola
08/24/2000 10:07 AM
To: Tom Hoatson/HOU/EES@EES, Robin Kittel/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Jeff
Dasovich/SFO/EES@EES, Jeff Brown/HOU/EES@EES
cc: SATaft@vssp.com, Janine Migden/DUB/EES@EES, Richard Shapiro/HOU/EES@EES
Subject: FW: Tech. Req. for Single & 3 Phase, 8-15-00.DOC

Hi Folks:
For those of you who have more technical expertise in electricity,  if you
could look at the attached document and provide me with your comments by
August 29th it would be greatly appreciated.  If there is anyone else that
you feel may be of assistance in this matter please don't hesitate to forward
this document.  Thank you for your help.
---------------------- Forwarded by Becky L Merola/DUB/EES on 08/24/2000
10:56 AM ---------------------------

"Taft, Sheldon A." <SATaft@vssp.com> on 08/24/2000 09:47:18 AM
To: "'bmerola@enron.com'" <bmerola@enron.com>, "'pmikuls@wpsr.com'"
<pmikuls@wpsr.com>, "'bkorandovich@newenergy.com'"
<bkorandovich@newenergy.com>, "'mayer@taftlaw.com'" <mayer@taftlaw.com>,
"'kurt@theoec.org'" <kurt@theoec.org>
cc: "Petricoff, M. Howard" <MHPetricoff@vssp.com>
Subject: FW: Tech. Req. for Single & 3 Phase, 8-15-00.DOC

Here are the Technical Requirements proposed by the utilities at the August
23 PUCO Workshop on Interconnection.  Please have your technical people
review these and share with us any issues or problems that marketers would
have with them.  We will need to identify these issues and problems and to
propose alternatives before the next workshop meeting on August 30.

-----Original Message-----
From: Colbert, Paul [mailto:pcolbert@Cinergy.com]
Sent: Thursday, August 24, 2000 10:40 AM
To: Taft, Sheldon A.
Subject: Tech. Req. for Single & 3 Phase, 8-15-00.DOC

 <<Tech. Req. for Single & 3 Phase, 8-15-00.DOC>> Here it is.  Thank you.

From the law offices of Vorys, Sater, Seymour and Pease LLP.

CONFIDENTIALITY NOTICE: This e-mail message is intended only for the person
or entity to which it is addressed and may contain confidential and/or
privileged material. Any unauthorized review, use, disclosure or distribution
is prohibited.  If you are not the intended recipient, please contact the
sender by reply e-mail and destroy all copies of the original message.  If
you are the intended recipient but do not wish to receive communications
through this medium, please so advise the sender immediately.

________________________________________________________________________

 - Tech. Req. for Single & 3 Phase, 8-15-00.DOC


Gerald,

I met with Roger Westbrook on Friday about the Bridgeline easements.  We figured out what info we already have and what we still need.  Attached is an email from Roger to Joel Milliet from Bridgeline regarding what we still need.

I am working with Roger on putting together the ROW agreement.  I will send it to you for review once we were are done.  Roger is out of town this week so you can probably expect something from us by the middle of next week.  In the meantime, could you please put together the special warranty deed for the sale of the 2.82 acres to Bridgeline?  The price agreed on is $6500/acre.

Talk to you soon,

Rakhi
x3-7871

 -----Original Message-----
From: 	Westbrook, Roger
Sent:	Friday, October 19, 2001 3:06 PM
To:	'millija@texaco.com'
Cc:	Israni, Rakhi
Subject:	Bridgeline at Crawfish

See attached file.

Roger Westbrook
Enron Transportation Services
Right of Way Dept.
(713) 646-7329 voice
(713) 646-7247 fax
roger.westbrook@enron.com


Start Date: 1/22/02; HourAhead hour: 8;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012208.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


Janet, please meet with Denise (tomorrow if possible) to:

- explain filing system
- hand off filing projects you are working on (anytime between tomorrow and
next week is fine)
- explain how you do service lists for FERC filings.

Also, one of you will need to contact the appropriate person to get Denise
access to my Lotus Organizer.
Don't know how to notify the mailroom people to deliver my mail to Denise's
station but see if you can do this also.

I spoke with Mike, and Emily is going to handle moving the phones.

Merci beaucoup!


Has legal received a credit worksheet on this counterparty?  Please give me a
call (or John!).  Thanks.  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 08/10/99 03:48
PM ---------------------------
From: "John J Shoobridge/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL on
08/10/99 08:21 PM
To: Sara Shackleton@ECT
cc: Rodolfo Freyre AT ENRON_DEVELOPMENT@CCMAIL, Federico Cerisoli AT
ENRON_DEVELOPMENT@CCMAIL, "Gabriela Aguilar/ENRON_DEVELOPMENT" AT
ENRON_DEVELOPMENT@CCMAIL
Subject: Total's Master Swap Agreement

Sara:

Can you give me an update on this deal. The customer is calling and need to
let him know where are we standing on legal side of the business.

Regards
---------------------- Forwarded by John J Shoobridge/ENRON_DEVELOPMENT on
08/10/99 04:18 PM ---------------------------

John J Shoobridge
08/05/99 07:20 PM

To:   Patricia Cini@ENRON_DEVELOPMENT, Sara Shackleton@ENRON_DEVELOPMENT cc:
 Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Federico
Cerisoli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gabriela
Aguilar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don
Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject:  Total's Master Swap Agreement

Pat,

I have faxed to you the financial statements of  Total Austral S.A..

We are potentially entering into a MSA with this customer. The first
transaction we are thinking about is a financial Swap to hedge their
Propane-Butane production in Caadon Alfa according to the following details:

1. Swap                            Prices                         Prices
|------------------------+------------------------+------------------------|
| SWAP (cents/ gallon) - |         1 year         |        6 months        |
|          Bid           |                        |                        |
|------------------------+------------------------+------------------------|
|        Propane         |         35 3/4         |         38 3/4         |
|------------------------+------------------------+------------------------|
|         Butane         |         40 3/4         |         43 1/2         |
|------------------------+------------------------+------------------------|

2. Put Option
|--------------+--------------+--------------+--------------+--------------|
|  Put Option  |   1 year -   |   1 year -   |  6 months -  |  6 months -  |
|(cents/gallon)|   Premium    |    Strike    |   Premium    |    Strike    |
|--------------+--------------+--------------+--------------+--------------|
|   Propane    |     2.5      |    32 3/4    |      2       |    35 3/4    |
|--------------+--------------+--------------+--------------+--------------|
|    Butane    |     3.0      |    37 3/4    |    2 3/8     |      42      |
|--------------+--------------+--------------+--------------+--------------|

Propane
Volume: 45.000 metric tons.
Starting date: Nov 1
Butane:
Volume: 19.000 metric tons.
Starting date: Nov 1

Sara: Would you please start drafting an MSA with Total Austral S.A.? Please
let me know if you need any aditional information.

Regards

John Shoobridge


Joe - great news - ........forgot to ask you how the Aeroflot (sp?) service was on your first trip over.  Is it true the Matthew Scott Company is doing some promotional/incentive partner programs with them ....led by MMMMMMMMAACCCKKKKERRR!!!!
Joseph G.Galea wrote:  Diane and I are thrilled to announce that we will be travelling to Russia for the 2nd and final time (for a few years anyway) to pick up our son, Yanic! We will be leaving on Friday June 15th, with our court appearance on June 19 and our flight home to Toronto on June 22! Thanks to all for your kind words and sentiments over the last few months. REGARDS,  Joseph Galea
McGown Intermac Inc.
160 Bloor Street East
Suite # 1124
Toronto, Ontario  M4W 1B9
Ph. # 416-966-1622
Fax. # 416-966-1434


Transwestern Pipeline Co. posted new notice(s) since our last check at
12/13/2000 1:30:01 PM, the newest notice looks like:

 Capacity Constraint, Dec 13 2000  1:48PM, Dec 14 2000  9:00AM, Dec 15 2000
8:59AM, 2237, Allocation - SOCAL NEEDLES

Please click the following to go to the web site for detail.

http://ios.ets.enron.com/infoPostings/shared/et_noncritical_notice.asp?company
=60


Rick, what are you doing for tommorow.  I would love to go out early before
it gets to crowded and then maybe go somewhere a little more mellow later in
the afternoon/evening.  Also, are you guys doing anything this evening? Let
me know.


Thanks for the resume.  I do not need a regulatory lawyer at this time.
Mark


I had the IT guys reschedule my outlook migration.  They should call you
tues.  How about doing it wed night when I'm on a plane?  thanks df


-----Original Message-----
From: Wesner-Soong, Sarah
Sent: Thursday, November 01, 2001 10:30 AM
To: Arnold, John; Quigley, Dutch
Subject: FW: EDF Man
Importance: High

Do you know anything about this?
-----Original Message-----
From: Gosnell, Gerri
Sent: Thursday, November 01, 2001 9:21 AM
To: Hodges, Georganne; Whiting, Greg
Cc: Reeves, Leslie
Subject: EDF Man

Hi Greg and Georganne,

Per our statement from EDF Man today, it appears that we have excess on our account of $9,535,870.00.  Upon speaking to Paul at EDF Man, he told me that no money would be transfered.  He said that someone in their office was speaking to Marty Timmins in our office..???  Have either of you heard anything regarding the wire for today?

I thank you for your help in this matter.

gg


This request has been pending your approval for  62 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


NYMEX Membership Services
May 4, 2001
Notice # MS-32

NOTICE OF INTENTION TO TRANSFER

Please be advised that effective with the close of business, May 4, 2001, he
following member(s) have given notice of intention to transfer their sole
Membership within the Exchange:

Terence A. Mullervy
(Glencore, Ltd.)

NOTICE OF INTENTION TO SWITCH QUALIFYING CLEARING MEMBER

 Please be advised that effective with the close of business, May 3, 2001,
Rosenthal Collins Group LLC, will no longer guarantee the following member(s):

Mark Nordlicht (MAN-8138)

 However, the above mentioned will remain a member guaranteed by Man
International, Inc.  In connection therewith, notification of any claims
against the aforementioned individuals arising out of transactions executed
on the Exchange up to the close of business May 3, 2001, must be submitted to
the Corporate Secretary,s Office within (10) ten days.

TERMINATION OF TRADING PRIVILEGES

 Please be advised that the Exchange has been notified by Rosenthal Collins
Group LLC, that effective with the close of business, May 3, 2001, it will no
longer guarantee the membership(s) of:

David Boim (BOIM-5215)

 Members and Member Firms have (10) days from the date of this notice to
advise the Corporate Secretary,s Office of any claims in accordance with Rule
2.51.

 Inquiries regarding the above should be addressed to the Member Services
Department at 212-299-2379.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(MS-32)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Start Date: 12/31/01; HourAhead hour: 21;  HourAhead schedule download failed. Manual intervention required.


quit pressuring them    i want to sell some too.  actually sold a few at 9 on
the close

slafontaine@globalp.com on 01/31/2001 12:40:07 PM
To: John.Arnold@enron.com
cc:
Subject: Re: v/x

i hate hate that sprd-at 8 cts i think its such a good bearsprd-hope it keeps
coming in. ill tell you why later


Louise,
Please let me know if you have any questions. Thanks!


Included is an updated diagram of the proposed Chase prepay that includes
Stoneville - please let me know if you have any questions.  With regard to
Stoneville, Enron Hydrocarbons Marketing Corp. entered into an agreement in
December 1994 whereby Enron would sell to Mahonia and buy-back from
Stoneville (Stoneville Aegean Ltd) - a transaction very similar to this
prepay.  Thanks.

Michael


* Make Better Whoopee! *
TURBO-BOOST your sex drive, dramatically INCREASE your staying
power, MAGNIFY your response, counter impotency. This breakthrough,
all natural herbal sex enhancer is SAFE with NO SIDE EFFECTS!
100% money back guarantee!


Nothing has happened, it seems like he's trying to stick close to home.  I
came in on Monday night and went upstairs, because I frankly, did not want to
talk and did not want to get mad in front of Jordan.   I was furious and I
still am furious.  Last night we had choir rehearsal, so he was in bed when i
came back.  I really don't want to talk to him right now.   I'll keep you
posted, because I will be doing it hopefully, tonight!

See you later.


I have asked my paralegal, Linda Guinn, to get you this information.

	Tom Bauer@ENRON
	Sent by: Sabrina Whaley@ENRON
	10/11/2000 09:05 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Jennifer Stevenson/AA/Corp/Enron@ENRON
		 Subject: Legal Circularizations

As a follow up to our meeting that was held on 9/25 regarding year end legal
circularization, I would like to obtain a list of the outside legal firms
utilized and the associated legal matter.  Please forward this information to
me or Jennifer Stevenson at your earliest convenience.  We will be providing
this to our corp team as they prepare for their required year-end procedures.

Thank you for your help.  Please give either myself (3-6109) or Jennifer
(3-4793) a call with questions.


>From: "Scott Fraser" <Scott_S_Fraser@yahoo.com>
>Reply-To: "Scott Fraser" <Scott_S_Fraser@yahoo.com>
>To: mtaylo9@lsu.edu
>Subject: Are You Ready to Make a Fortune?
>Date: Sun, 18 Nov 2001 19:45:22 -0800
>
>Dear Investor Friend,
>
>As you may know, I have been making my subscribers rich for over a decade.
>
>As a best-selling investment author, ON24 Analyst, and award-winning
>editor of The Natural Contrarian financial publication, I have made
>thousands of investors mega-rich over the years.
>
>Just 10 weeks ago I told my Elite Subscribers about a stock which was
>trading at $2.76. Within 10 weeks it hit $5.06 -- a gain of 83%.
>
>Amazing? Maybe.
>
>But vast profits are commonplace for my Elite Subscribers.
>
>To put it simply, my Elite Subscribers have been making money
>hand-over-fist. And they are about to become even richer.
>
>You see, the stock I just told you about -- the one that shot up 83% in 10
>weeks -- will soon be going higher. Much higher.
>
>I will tell you more about that at a later date -- but first let me tell
>you about my track record.
>
>My last 3 oil and gas stock picks made 660%, 230%, and 915%. In fact, I am
>receiving constant "thank you" emails from my followers who have become
>multi-millionaires buying and selling my oil and gas stock picks over the
>last several months.
>
>Just think how your stock portfolio would look today if you had:
>
>* bought shares in Pennaco Energy at $2.50 and sold at $19
>* took a position in Atlas Pipelines -- before it lept over 230%
>* purchased Ultra Petroleum 11 months before it shot-up 915%
>
>In fact, if you had been one of my Elite Subscribers you would have made
>vast profits on Pennaco, Atlas and Ultra -- plus you would have racked up
>multiple triple-digit stock gains back-to-back.
>
>As you can see, many of my Elite Subscribers have become mega-rich. That's
>why they pay me $1,000 -- year in and year out.
>
>But my bottom line is this: even though you are not one of my Elite
>Subscribers (yet), I still want you to become rich.
>
>As one of my free subscribers, you won't receive the ultra-secret stock
>picks that I share with my Elite Subscribers. But once in awhile, I will
>tell you about a stock that will create vast profits for you.
>
>On one condition.
>
>I want you to promise to reserve some of your profits to become one of my
>Elite Subscribers.
>
>That's a fair deal, right?
>
>But remember, this gift has strings attached: I want you to promise that
>you will reserve $1,000 of your profits to become one of my Elite
>Subscribers.
>
>So get ready for my next email.
>
>And get ready to make a fortune.
>
>Yours,
>
>Scott S. Fraser
>Editor, The Natural Contrarian Investment Publication
>Best-selling author
>ON24 Analyst
>
>---
>You are currently subscribed to scott_fraser as: mtaylo9@lsu.edu
>To unsubscribe send a blank email to Scott_S_Fraser@yahoo.com with the
>words -- REMOVE mtaylo9@lsu.edu -- in the subject line

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


We have seven as of now.  If you want to play, you will play the whole game.

Let me know.

Bryan Hull
03/23/2000 05:09 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Monday's Game

If you need me I'll play, but if I'm going to sit on the sidelines I'll skip
it.

	Enron North America Corp.

	From:  Eric Bass                           03/23/2000 03:02 PM

To: Brian Hoskins/HOU/ECT@ECT, Luis Mena/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Amir Ahanchian/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Timothy
Blanchard/HOU/EES@EES, Bryan Hull/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT,
O'Neal D Winfree/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, Kenneth
Shulklapper/HOU/ECT@ECT
cc:
Subject: Monday's Game

The game is at 8:45 on Monday@ the Post Oak YMCA.

Let me know if you can make it.


Anyone interested in PAINTBALL ... on the 10th June (Sunday) ?

Cost: Approx $40, includes equipment, food but not paint or clothing.

Forward this to anyone who you think would like to go.

http://maps.yahoo.com/py/maps.py?Pyt=Tmap&addr=15550+Grant+Rd&city=Cypress&state=TX&slt=30.024000&sln=-95.651000&name=&zip=&country=us&BFCat=&BFClient=&mag=5&desc=&cs=9&newmag=6&poititle=&poi=


Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.

We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.

It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:

-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;

-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;

-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;

-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and

-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.

We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.

Core Businesses

Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:

-- Natural gas pipeline businesses;

-- Gas and power businesses in North America and Europe;

-- Retail businesses in North America and Europe; and

-- Coal businesses in North America and Europe.

The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.

I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.

Non-Core Businesses

Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.

We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.

Businesses Under Review

These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.

Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.

Credit Rating/10-Q Filing

We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:

-- Moody's at Baa3       "Under Review for Further Downgrade"

-- Fitch at BBB-             "Evolving Status"

-- S&P at BBB-              "CreditWatch Negative"

We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.

We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."

In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.

In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron.


Rod:  Is this one ready to go?  Please talk to Susan.  Thanks.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 04/18/2000
06:20 PM ---------------------------

Julian Poole@ENRON_DEVELOPMENT
04/18/2000 03:58 PM
To: Sara Shackleton@ECT
cc:
Subject: Re: Capex

Sara, were you able to advance with the Master Agreement for Capex?

Julian

Brent Hendry
04/14/2000 12:22 AM
To: Rod Nelson/HOU/ECT@ECT
cc: Andrea Calo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julian
Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sara Shackleton@ENRON_DEVELOPMENT
Subject: Re: Capex

For the time being Sara is handling the Swap Master Agreements for South
America since they are ENA transactions.

To: Andrea Calo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Capex

Attached is credit terms for Capex master trading contract (per Julian's
request).

Andrea,

I hoped your credit questions were answered concerning adequately in the
recent contract negotiations with Pluspetrol.  I apologize if I wasn't
sufficiently responsive.  I'm working on unloading other responsibilities so
that I can focus purely on Southern Cone.

Rod


I have 2 incredible tickets for the Brooks and Dunn concert on Friday. Do you
want them?

Chris


Attached are ClickPaper approvals for November 6, 2000.


Explain to me why Don S. went golfing at 3 pm and you have this huge var
violation in his book?  I'm not sure that was the best idea he's ever had.


The first email was what I sent to Burton and Susan.  This is the
confirmation from them that the book was set up.

DG    3-9573
---------------------- Forwarded by Darron C Giron/HOU/ECT on 11/06/2000
09:57 AM ---------------------------

Susan D Trevino
10/30/2000 01:25 PM
To: Debbie R Brackett/HOU/ECT@ECT, John D Powell/HOU/ECT@ECT, Michael
Swaim/HOU/ECT@ECT, Ron Nolte/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Scott
Mills/HOU/ECT@ECT, Michael E Moscoso/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT,
Todd Warwick/HOU/ECT@ECT, Chris Abel/HOU/ECT@ECT, Tracey Irvin/HOU/ECT@ECT,
Frank Cernosek/HOU/ECT@ECT, Daniel Falcone/Corp/Enron@ENRON, Manfred
Roenz/Corp/Enron@Enron, Clara Carrington/HOU/ECT@ECT, Minal
Dalia/HOU/EES@EES, Homan Amiry/LON/ECT@ECT, Christian
LeBroc/Corp/Enron@ENRON, Xochitl Figueroa/NA/Enron@Enron, Joyce
Kuo/NA/Enron@Enron, Burton McIntyre/HOU/ECT@ECT, Kevin Lee/Corp/Enron@Enron,
Kenneth D'Silva/HOU/ECT@ECT, Rebecca Ford/HOU/ECT@ECT, Gregory
Carraway/Corp/Enron@Enron, Bjorn Hagelmann/HOU/ECT@ECT, Sunil
Dalal/Corp/Enron@ENRON
cc: Darron C Giron/HOU/ECT@ECT, Jennifer Bagwell/NA/Enron@ENRON, Anne
Bike/Corp/Enron@Enron, Carole Frank/NA/Enron@ENRON, Jason
Wolfe/NA/Enron@ENRON, Chris Walker/HOU/ECT@ECT
Subject: Book Request 593

This book is set up.  Please contact me if you have any questions.

Thank you,
Susan Trevino
x3-1462


----- Forwarded by Steven J Kean/NA/Enron on 03/15/2001 10:22 AM -----

	eserver@enron.com
	03/12/2001 12:24 PM

		 To: "Steven.J.Kean@enron.com" <Steven.J.Kean@enron.com>
		 cc:
		 Subject: <<Concur Expense Document>> - General Expenses

The following expense report is ready for approval:

Employee Name: John Hardy Jr Jr.
Status last changed by:  Automated Administrator
Expense Report Name: General Expenses
Report Total: $12,435.04
Amount Due Employee: $89.90

To approve this expense report, click on the following link for Concur
Expense.
http://nahou-wwxms01p


Just wanted to make sure you received this.

---------------------- Forwarded by Chris Germany/HOU/ECT on 01/28/2000 10:09
AM ---------------------------

	From:  Joan Veselack @ ENRON                           01/27/2000 07:38 PM

To: hboyd@columbiaenergygroup.com, kdestep@columbiaenergygroup.com
cc: mstiles@columbiaenergygroup.com, knovsek@columbiaenergygroup.com, Chris
Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Scott Hendrickson/HOU/ECT@ECT,
Katherine L Kelly/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Joann
Collins/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT
Subject: TCO STOW Overage - 1/24

Kara/Heidi, please give this to Brian and Melissa.

Because the burns significantly increased on 1/24 from the forecasted amount
(+16749). Contract #63281 was over-run and Storage #51407 was over-withdrawn.
Contract over-run is $.21 per dkt and storage over-withdrawls are $10 per dkt.

Because the forecast was lower, I let Joann use the extra space for CES
Enduser Market. TCO will let me cut gas to CES Enduser Markets as a retro.
Not sure if you want this gas to flow or try to make it up over the weekend.
If you need the gas to flow because of OFO penalties, maybe the storage
over-withdrawal is cheaper than incurring OFO penalties. Please tell me what
you want me to do. Need to do the retro's ASAP while TCO is still feeling
generous.

FYI, the traders at Enron talked to Noel Bartlo on Tuesday. Noel said any
costs over the space that retail had (134,710 for choice), Enron had the
right to pass on the costs. I really hope the Noel communicated that to CES
Retail. I would hate to have a huge misunderstanding between Enron and CES
Retail. Remember, we schedulers are caught in the middle... and don't try to
cause unnecessary pain.

63281/236 coh 7-1  2934/2872
63281/170 coh 7-5  1922/1881
63281/99 coh 5-2  427/418
63281/221 cpa8-35 1639/1604
63281/220 cpa8-35 511/500

Total    7433/7275


alright, no williams

can i interest you in a receiver and say lamar smith for robert smith or ron
dayne


Kim

Can you handle this and start working with these guys?

C
---------------------- Forwarded by Chris H Foster/HOU/ECT on 01/01/2001
09:45 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Paxton, AM (Arnold)" <Arnold.M.Paxton@akzo-nobel.com>
          12/20/2000 09:05 AM

To: "'Chris.H.Foster@enron.com'" <Chris.H.Foster@enron.com>
cc:
Subject: 2001 natural gas forecast

Chris,

I need a forecast from you for natural gas prices for 2001by month as you
normaly do for me. Can you get this to me by friday 12/22/00?

thanks in advance.          Arnold Paxton


Richard and Scott; I look forward to hearing from  you on Marc.
?
Lauren Eaton Prescott
Prescott Legal Search
713-439-0911
?
 - stone marc enron.doc
 - stone marc.doc
 - stone marc.doc


MilePoint Newsletter

[IMAGE]	 Refinance with MilePoint Long-term interest rates have hit their lowest level in years.  In fact, the 15-year rate is currently at its lowest level on record!  There is no better time than now to help reduce your monthly expenses and help our country's economy get back on track.   What are the top 5 reasons to purchase or refinance a home?  In today's market, purchasing a home may be less expensive than renting If you currently own a home, refinancing may lower your monthly payment Refinancing with a "cash out" option can help payoff or consolidate higher interest rate debts By refinancing, you can convert an Adjustable Rate Mortgage (ARM) to a low fixed rate Refinancing to a shorter term loan (from a 30-year to a 15-year loan), can save you thousands of dollars in interest  PLUS, you can use miles to save even more on your next mortgage or refinancing with Chase and CitiMortgage!   [IMAGE]   As a MilePoint member, you can choose to redeem your miles and points for automatic savings of up to $500 on mortgage settlement costs when you choose Chase Manhattan for your home financing needs.  So whether you are purchasing your first home or a vacation home, or just considering the refinance of your current mortgage, Chase can help save you time and money.   Of course, you'll receive all the other benefits of being a Chase customer, including a Free Affordability Estimate or Refinance Savings Analysis. We offer a Passport-To-Purchase Preapproval
 Program so you can shop with confidence knowing Chase Manhattan, the nation's leader in mortgage lending, already approves you. This can increase your negotiating power with the seller and help you close the loan more quickly.    Chase also offers expanded qualifying ratios, some of the most flexible in the industry, so that with sufficient equity, you may be able to finance a larger home! You can lock in an interest rate right over the phone so that you are protected, should rates rise. For a nominal fee, you also have the option to float down to a lower rate, should interest rates fall while your loan is being processed.   Tell me more ?     [IMAGE]   Use miles for $500 closing cost savings, or a 1/4% reduction in loan origination point(s).   We specialize in working closely with companies like MilePoint to give you mortgage financing advantages you won't find anywhere else. Our wide array of mortgages gives you many choices, so you can find the one that meets your needs perfectly. You'll also be able to save money when you choose from our superior group of financial solutions. Call us today at 1-800-353-7989.     Benefits  As a MilePoint Member, you will receive...  Either $500 off your closing costs or 1/4% reduction in loan origination point(s), by applying 25,000 miles  Preferred Interest Rates  No PMI (Private Mortgage Insurance) with less than 20% down  National School Report helps you choose the right school for your child  Guaranteed on-time closing or you receive $400 toward closing costs  Access to a wide variety of Citigroup products and services  CitiQuik
 provides a mortgage loan approval in just minutes from start to finish and cuts the paperwork to a bare minimum.  SureStart
 helps you shop with the confidence of a cash buyer. We'll let you know up front how much financing you qualify for, saving you time and legwork.   Tell me more ?   	[IMAGE]
		[IMAGE]


We need to send someone.

Thanks.

 -----Original Message-----
From: 	"Laxmi Mrig" <lmrig@qwest.net>@ENRON [mailto:IMCEANOTES-+22Laxmi+20Mrig+22+20+3Clmrig+40qwest+2Enet+3E+40ENRON@ENRON.com]
Sent:	Wednesday, June 13, 2001 11:41 AM
To:	"Undisclosed-Recipient" <>@ENRON
Subject:	Upcoming Conferences and Just Published Conference Proceedings

Distributed  Generation Conferenceand  Workshops
August 7-10, 2001 Denver,  Colorado
   Overview

The distributed generation (DG) market is growing  rapidly, estimated to reach 25-30 gigawatts by 2010. Join us at the Distributed  Generation Conference and hear the lates information and overview of the  business and technical prospects for distributed generation. Our panel of expert  speakers will address the economics of distributed generation, evolving  regulatory policies, market projections, interconnection challenges, pricing  issues and much more. The Conference will also debate the role of distributed  generation (where and how), and identify the strengths and weaknesses of the  different generation technologies.
Distributed Generation - Basics of  Evaluation and Selection, August 7, 2001. Denver, Colorado.http://www.euci.com/Conferences/dgbaug01.htm
 Distributed Generation  Conference, August 8-9, 2001. Denver, Colorado.http://www.euci.com/Conferences/dgcaug01.htm
 Distributed Generation Power Quality  Solutions, August 10, 2001. Denver, Colorado.http://www.euci.com/Conferences/dgpaug01.htm
 Distributed Generation Interconnection  Challenges, August 10, 2001. Denver, Colorado.http://www.euci.com/Conferences/dgiaug01.htm

  List  of Other Upcoming Events
Electric  Power Market Performance Conference and
Power  Market Design Workshop

September 19-21,  2001, Denver, Colorado
Power Market Design  Workshop
http://www.euci.com/Conferences/pmdsept01.htm
Electric Power Market Performance  Conference
http://www.euci.com/Conferences/epmsept01.htm

List of Recently  Published Conference Proceedings

Electric  Utility Consultants, Inc. has just published the proceedings for the following  recently-held conferences/workshops:
What to  Expect in Western Power Markets This Summer Conference, May 1-2,  2001
Table of Contents: http://www.euci.com/Proceedings/wtemay01.htm
Transmission  Grid Expansion and System Reliability Conference: Focus on Regulation,  May 21-22,  2001
Table of Contents: http://www.euci.com/Proceedings/Tge_formay01.htm
Transmission  Grid Expansion and System Reliability Conference: Focus on Pricing,  May 23-24,  2001
Table of Contents: http://www.euci.com/Proceedings/Tge_fopmay01.htm

If you are  searching  for a job or would like  to post a job in the electric utility industry, please visit www.UtilityHQ.com
Kindly  forward this announcement to your colleagues who might benefit from attending  these conferences/workshops/courses.
Best  regards,
L.  Mrig
Electric Utility Consultants, Inc. (EUCI)
5555 Preserve  Drive
Greenwood Village CO 80121
(303) 770-8800Lmrig@euci.com
Send  us a note if you do not wish to receive these announcements.


The most famous Vassigh quote is
"Say Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh my Colorado Coonass ho"

Just like a weasel to not acknowledge that your proud statements about LSU
and smack at Texas has now blown up in your face, instead you point out the
obvious that I am a Fat dude.
I did not smack at the obvious about you - living in Montrose - the way you
tan year round.

I am sure glad I am not an LSU fan - it must be depressing.

We need to bet more often - I am not doing so good betting ON LSU on
WSEX.COM.
Your are my little Colorado Coonass Pulse Machine.

Your Texas Idol

            Matthew.Lenhart@enron.c
            om                             To:     Brian R. Vassigh/Internal/Accenture@Accenture, Val
                                           Generes/Internal/Accenture@Accenture, Chad.Landry@enron.com, Matthew J.
            10/29/2001 01:57 PM            Garver/Internal/Accenture@Accenture, Elliot J.
                                           Green/Internal/Accenture@Accenture, Kevin
                                           Labban/Internal/Accenture@Accenture
                                           cc:
                                           Subject:     RE: Lousyanna State vs. Texas - Pretenders vs. Contenders

famous vassigh quotes:

"pass the butter"
"you gonna finish that?"
"if loving this cake is wrong, i don't want to be right"
"i can eat twice as much of this ice cream b/c it is fat free"
"food in lousyana is overrated.  texas food rules"
"texas biscuts rule the world"
"i like my cookies texas size"
"don't mess with texas banana splits"

    -----Original Message-----
   From:   brian.r.vassigh@accenture.com@ENRON   On Behalf Of
             brian.r.vassigh@accenture.com
   Sent:   Sunday, October 28, 2001 7:56 PM
   To:     Val.Generes@accenture.com; Lenhart, Matthew; Landry, Chad;
             matthew.j.garver@accenture.com; elliot.j.green@accenture.com;
             kevin.labban@accenture.com
   Subject:  Lousyanna State vs. Texas - Pretenders vs. Contenders

   Well, Well, Well,
   I am writing this note to all the smack talking coonass LSU fans who
   enjoy
   banging on The University of Texas Longhorns with smug smack like
   "Overrated, Overrated".
   I usually use the BCC field when sending smack notes like this so
   everybody
   won't get barraged with weak Reply All's from recipients who think they
   can
   go toe to toe with me in e-mail smack (i.e. Val and his weak shit he
   likes
   to send).
   This time is different because I think y'all should know who your fellow
   pathetic smack talking LSU fans are.
   Y'all can start a new support group - called "Vassigh's College Football
   Smacked down Bitches - that got their cakeholes shut by Chris Simms,
   Cedric
   Benson, and Roy Williams et al"
   Y'all have dished it all out, so I do not feel bad for rubbing salt into
   the fatal wound that Ole Miss delivered you and your team Saturday
   night.

   Here a couple of smack statements made by some if not all of the cajun's
   included in this e-mail header.
      "Simms sucks, how could he be a preseason heisman candidate?" - Over
   his
      last three games, Simms is 59-of-88 (67.0 percent) for 698 yards and
   12
      touchdowns passing 2 touchdowns rushing with just one interception
      (176.41 rating).  He has just started about ONE full seasons worth of
      games recently and is coming into his own.  Simms will be a top NFL
   pick
      as will Roy Williams and Cedric Benson.  I can't think of any College
      Football team in history with the high caliber triple threat that UT
   has
      with Simms, Benson, and Williams.
      "The SEC is the best conference in football, the Big XII Sucks" -
   What a
      joke that statement is.
      "LSU would whip UT"  - Yeah right - LSU Could not beat Rice.
      "UT is the most overrated team in college football" - interesting
   since
      they are higher ranked now in November than they were in the
   preseason
      polls.
      "Mack Brown can only recruit - he can't coach worth a damn - Nick
   Saban
      is better" - Mack Brown has one loss - he hasn't lost in Austin since
   he
      has been coach - while Saban has led LSU to three losses - 2 in the
   Red
      Stick - just THIS SEASON.

   Every college football analyst would agree no conference compares to the
   Big XII.
   The BIG XII have 3 TEAMS RANKED IN THE TOP 5 early November -
   unbelievable!
   Two of the top ranked BIG XII team's only losses were to the other top
   ranked BIG XII school.  UT loss to OU and OU loss to Nebraska.
   The only way the best teams in the Big XII lose is when they have to
   play
   against each other.
   The highest ranked SEC team (Florida) lost to Auburn which lost to
   pathetic
   Arkansas.

   All football players worth a damn have left y'alls God Forsaken state.
   Peyton to Tennessee, Marshall Faulk to SDSU, the newest Manning to Ole
   Miss
   that just whipped up on y'alls 3rd world state university in the Red
   Stick
   on national television on a cool October Saturday night.
   Cajuns like Jake Delhomme and Bobby Bouchieaux stay in Lousyanna to play
   college ball though - that's some encouraging news for y'all.
   I can't think of one LSU player that has ever done shit in the NFL.
   NFL teams have gotten screwed every time they drafted a Lousyanna State
   football player.
   David Lafleur, Kevin Faulk, Harvey Williams, Eddie Kennison - the list
   goes
   on and on.  It is really pathetic.
   Texas has just RECENTLY produced dominating hausses like Ricky, Tony
   Brackens, Dan Neil, Shaun Rogers, Leonard Davis, Priest Holmes, Blake
   Brockermeyer, Bryant Westbrook, and many others.  Look at Eric Metcalf
   in
   his first game back to the NFL for the Redskins - breaking NFL records.
   Texas players are magic baby.
   Not to mention legends like the Tyler Rose, Tom Landry, Bobby Layne, and
   Tommy Nobis

   I hope y'all enjoy Shreveport on a cold December night while y'all
   attend
   Lousyanna States bowl game against Fresno State at the Independence
   bowl.
   At least you can enjoy the New Years holiday by watching the NFL like
   offense of The University of Texas Longhorns play in a BCS bowl and God
   willing with some magic from TAMU over the Texas Traitor filled roster
   of
   OU and some other help - watch UT vs. Miami in the Rose Bowl.

   I guess that smack from Elliot saying Rohan was better than Simms seems
   pretty foolish to you now doesn't it.
   That dude needs to play linebacker if he wants to get in the NFL.  He
   might
   have a decent arm but he has no clue in the pocket,  The difference
   between
   how Eli Manning ran the passing game and Rohan did for LSU Saturday
   night
   showed LSU's deficiency at the QB position.  Fumbling, bumbling,
   stumbling
   is the best way to describe his play.

   CKL - you better buy your family Christmas gifts from the dollar store
   because you need to save your money to pay on the $500 bet you made with
   me
   the night of Val's wedding in that little bar in Natchez, Mississippi.
   You
   boldly put your soon departed money where your mouth was all night,
   since
   all you were ranting was "tiger bait, tiger bait" any time I was trying
   to
   tell you how UT would whip up on LSU like the 3 lesser ranked teams have
   already done this season.
   The bet for $500 was to go to the person whose team would be ranked
   higher
   at the end of the 2001 College Football season: Me = University of Texas
   You =  LSU.
   Well since UT is in the top 5 and with a worst case scenario would not
   finish out of the top 15 this year and the fact that LSU will not even
   finish the season ranked - you need to start saving your extra pocket
   cash
   - or we can work out an installment plan.
   Lenhart was a witness as well was another of Val's amigos (I forgot the
   name but know the face).

   It looks like history will keep on repeating itself with the Great State
   of
   Texas always being superior in every facet over it's little cajun
   neighbor
   to the east - Lousyanna.
   Texas has the winningest NFL team of all time in the Dallas Cowboys, the
   3
   time champions and top 4 ranked Texas Longhorns.
   Conversely Lousyanna has the losingest NFL team of all time in the
   Aints,
   and the doormat of the pathetic SEC west Lousyanna State university.
   The last Governor of Texas is the President of the United States and
   leader
   of the free world.
   The last Governor of Lousyanna is in prison licking Boudreaux's balls
   for
   the next 15 years or so.
   And the bottom line is that y'all are in my State working because there
   are
   no jobs outside of casinos and bars in Lousyanna

   Even the only bright spots in the pathetic history of y'alls only
   professional sports franchise is provided by Texas players - Earl
   Campbell
   and Ricky Williams.

   He who laughs last laughs best.
   Man this note is a classic.  I think I will be sending it to Jim Rome.

   Hook 'Em

   Val forward this note all over the Red Stick and all over that God
   Forsaken
   land east of the Sabine.
   The Truth shall set your people free.

   Brian

   This message is for the designated recipient only and may contain
   privileged or confidential information.  If you have received it in
   error,
   please notify the sender immediately and delete the original.  Any other
   use of the email by you is prohibited.

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

This message is for the designated recipient only and may contain
privileged or confidential information.  If you have received it in error,
please notify the sender immediately and delete the original.  Any other
use of the email by you is prohibited.


---------------------- Forwarded by Mike Grigsby/HOU/ECT on 10/18/2000 12:53
PM ---------------------------

	Enron North America Corp.

	From:  Kenneth Shulklapper                           10/16/2000 11:04 AM

To: Mike Grigsby/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect
cc:
Subject: (no subject)

---------------------- Forwarded by Kenneth Shulklapper/HOU/ECT on 10/16/2000
11:04 AM ---------------------------

Dave Karson <dkarson@emeridianequities.com> on 10/16/2000 10:56:01 AM
Please respond to dkarson@emeridianequities.com
To: kenneth.shulklapper@enron.com
cc:
Subject: (no subject)

enjoy

 - Olivia Newton John - Physical.mp3


Hi sorry to bother you, but could you please print this out for me?  Thanks a
bunch.

Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/14/2001 09:29 AM -----

	bbailey@duke-energy.com
	02/14/2001 09:28 AM

		 To: Jeff.Dasovich@enron.com
		 cc:
		 Subject: Re:

I'll try it again.  See you in a few hours.

(See attached file: Harris County EBA Speech (1-12 Draft).doc)

Brent Bailey
713-627-5307 (p)
713-627-5550 (fax)
bbailey@duke-energy.com
 - Harris County EBA Speech (1-12 Draft).doc


<http://www.energynewslive.com/ImageLogServlet/content/email/graphic s/header.jpg?email=Mike.Grigsby@enron.com>

 	  	 Dear Mike,

Senate Energy Committee Chairman Jeff Bingaman (D-NM) says he is unsure whether an energy bill will reach the Senate floor this year. Washington Bureau Chief Peter Cook says Senator Bingaman is also downplaying the chances that a new Republican energy proposal will alter the debate significantly. The bureau will have the latest from the Hill on Friday.

Also from Washington on Friday, Executive Director of the International Energy Agency Robert Priddle will discuss the world's energy supply within the context of the campaign against terrorism. Priddle is speaking at the Center for Strategic and International Studies tomorrow, and the Washington bureau will bring us all the details.

Energy Markets Washington Editor Jack Belcher will join us from the Washington bureau on Friday. Belcher is stopping by during the
9:00 a.m. ET newscast to discuss the EPA's new boutique fuels proposal.

The Independent Petroleum Association of America will continue a three-day meeting in Houston on Friday. Interior Secretary
Gale Norton and Energy Secretary Spencer Abraham are among those attending the meeting. Houston Correspondent Kim Benestante will have details on the meeting from the Houston bureau on Friday.

Also from Houston, Spinnaker Exploration CEO and Founder
Roger Jarvis will discuss his company's third-quarter earnings results. Join us during the 1:00 p.m. ET newscast for the Jarvis interview. And catch Simmons & Company International Vice President of Research
Mark Meyer as he talks about how oil stocks are doing this quarter. We'll bring you these interviews from Houston on Friday.

From the West Coast bureau on Friday, ENL's Kym McNicholas will bring us a report on the extra security measures being taken to protect the Hoover Dam. The dam has 17 generators, each capable of supplying electricity to 100,000 households. Catch the Hoover Dam report from the West Coast bureau tomorrow.

Keep in mind things are subject to change at a moment's notice. Occasionally guests cancel or change time slots. We'll continue to do our best to keep you updated on future interviews and events.

Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

 	   <http://www.energynewslive.com/content/email/graphics/signature.jpg>
 	 Jay Rickerts, EnergyNewsLive.com Anchor

View today's Energy Wrap video <http://www.energynewslive.com/NavController?referer=email.jsp&acti on=dailyWrap&email=Mike.Grigsby@enron.com>
(Requires Windows Media Player <http://www.microsoft.com/windows/mediaplayer/en/download/Win32IE4x 86.asp> or Real Player <http://www.real.com>)

Experience all that Williams Energy News Live has to offer! <http://www.energynewslive.com>

If you are receiving this letter for the first time and wish to continue,
subscribe now <mailto:join-enl-members-html@estutenws11.energy.williams.com>

To stop receiving this letter, unsubscribe now <http://www.energynewslive.com/unsubscribe.jsp?type=H&email=$subst( 'Recip.EmailAddr')>

If you are having trouble receiving this e-mail, please let us know <mailto:ecenter@energynewslive.com> or call
(800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.

Comments? Suggestions? Let us know <mailto:ecenter@energynewslive.com> or call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.

Copyright 2001 Williams Energy News Live, LLC. All Rights Reserved.


-----Original Message-----
From: 	Charles Jones <jonesc@superior-sdc.com>@ENRON
Sent:	Thursday, December 06, 2001 6:56 AM
To:	'jeffshankman@hotmail.com'
Cc:	Shankman, Jeffrey A.
Subject:	My work email

The email address you have been using for me is one of my personal accounts
which I cannot access during work hours.  I can access this account
(jonesc@superior-sdc.com) at any time.

Charlie Jones
Manager, Systems Architecture
SDC Information Services
4256 Ridge Lea Rd
Suite 101
Amherst, NY 14226

Phone: 	716-835-8735 ext 252
Fax: 	716-835-1417
Mobile:	716-432-1421
jonesc@superior-sdc.com


For your review. Please advise if I can be of assistance.

-----Original Message-----
From: McCartney, William [mailto:William.McCartney@ElPaso.com]
Sent: Thursday, January 10, 2002 12:06 PM
To: Frihart, Bryant
Cc: Brown, Chuck; Coyle, Kevin; Fishbeck, Don
Subject: NGPL Storage Transfer

Bryant,

El Paso Merchant Energy (El Paso) is pleased to respond to Enron North
America's (Enron) request seeking parties interested in NGPL storage
inventory dated December 19, 2001.  El Paso would be interested in an
"inventory transfer" that abides by the terms detailed in the attached
document.  We appreciate the opportunity to participate in this bidding
process and look forward to your response.  If you have any questions,
please contact me.

Bill

 <<ENA NGPL NSS Transfer.doc>>

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


Do you all have comments?


As per your query the attached marked products are fine.

Justin Timothy
25/08/2000 08:37 AM
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: EOL Credit Responses 08/24/00

Yeah they sent in a PA out of the blue on the 8/8

David Minns
08/25/2000 09:32 AM
To: Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: EOL Credit Responses 08/24/00

where did Straits Resources come from.
---------------------- Forwarded by David Minns/ENRON_DEVELOPMENT on
25-08-2000 08:36 ---------------------------
From: Tana Jones@ECT on 24-08-2000 04:50 CDT
To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT,
David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Shari Stack/HOU/ECT@ECT
cc:

Subject: EOL Credit Responses 08/24/00

----- Forwarded by Tana Jones/HOU/ECT on 08/24/2000 04:50 PM -----

	Bradley Diebner
	08/24/2000 04:48 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia
Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global
Contracts and Facilities, Enron Europe Global CounterParty, Stephanie
Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Claudia Clark/HOU/ECT@ECT
		 cc:
		 Subject: EOL Credit Responses 08/24/00

The EOL approvals for 08/24/00 are attached below.

Regards,
bd


You should receive the FEDEX package today.  I also had a short page of
bullet points for insertion (which I'll e-mail) but I was waiting to hear
back from Chris Foster.   Thanks.  Sara


You know I was just teasing, right?  And, no dating is definitely not a bad
thing.  As for being or not being fortunate enough, just remember...your good
enough, your smart enough and dog-gonnit people like you.  Have fun tomorrow
night and try up that fortune.

Darren Maloney@ENRON
08/02/2000 02:18 PM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: Re: Coming To Houston

I didn't say who it was.................  Hey, dating isn't a bad thing.
I actually do it when I am fortunate enough.

Susan M Scott@ECT
08/02/2000 01:16 PM
To: Darren Maloney/Corp/Enron@ENRON
cc:

Subject: Re: Coming To Houston

I don't know what your talking about...

(By the way, thanks for the public outing.)


Maria and Drew, this is a long-winded e-mail but please bear with me...

The problem:

As you probably remember, several months ago several of us met to discuss the
following language in the ROFR portion of Transwestern's tariff: "if the rate
bid exceeds the maximum tariff rate, then the rate will be considered to be
the maximum tariff rate," and the additional frustrating language "[a]ll
available capacity shall be allocated under these procedures . . .."  At our
last meeting, we concluded that probably the best way to ensure that TW could
capture the true value of the capacity would be to link the negotiated rate
to index prices.  However, since this usually involves an unacceptable amount
of risk to both the shipper and TW, the marketers haven't done any
index-based rates and have no current plans to enter into any such deals.  I
have been asked by the Commercial Group to revisit this issue and to think of
other ways we could increase our ability to charge more than the maximum
rate.   Ideally they would like to eliminate the language I've quoted above.
However, my research has indicated that absent our 1) bringing about radical
change in the way FERC thinks about recourse rates or 2) showing that TW
lacks market power, we are probably stuck with this language.

Why the problem exists (you may already know):

Steve Stojic and I did some looking into why the language is in our tariff in
the first place.  In the Alternative Rates Policy Statement (RM95-6-000), the
Commission explained that it is willing to entertain individual requests for
negotiated rates, but only where customers retain the ability to choose a
cost-of-service based tariff rates.  "[T]he availability of a recourse
service would prevent pipelines from exercising market power by assuring that
the customer can fall back to cost-based, traditional service if the pipeline
unilaterally demands excessive prices or withholds service.  Thus, the
recourse rate mitigates market power."

The Commission went on to confirmed that under ROFR provisions the highest
rate that an existing shipper must match if it wishes to continue its
transportation arrangement is the maximum tariff rate. This policy is clearly
not limited to ROFR situations:  when capacity is constrained, a shipper
willing to pay only the recourse rate cannot lose access to capacity merely
because someone else is willing to pay a negotiated rate.  "When there are
more requests for capacity than there is capacity available, then the
pipeline must allocate capacity among those shippers willing to pay either
the negotiated rate or the maximum recourse rate, for example on a pro rata
basis if required by its tariff."  The example cited by the Commission:  If a
pipeline has 100 Dth/d available and two shippers request that capacity, one
who is willing to pay no more than the recourse rate of $5 and another a
negotiated rate of $6, then each would be allocated 50 Dth/d on a pro rata
basis (assuming the tariff provided for pro rata allocation and not some
other allocation method such as lottery).

When TW filed for authority to charge negotiated rates, it voluntarily added
the statement that "if the rate bid exceeds the maximum tariff rate, then the
rate will be considered to be the maximum tariff rate."  Presumably we had
concluded that we needed to add this recourse rate related provision in order
to receive negotiated rate authority.

Solutions??

I would like to know whether you concur that changing our tariff language
outright is probably out of the question.  I feel as if I've really been
chasing my tail here.  I have owed Lindy an answer for some time now.  But I
keep coming back to our having to prove lack of market power (which, Drew, is
where I believe you were headed when we talked about this in mid-October).
Steve Harris has asked whether we can just start small and remove the
recourse rate cap as to only a portion of our system.  I think we would still
have to show lack of market power in order to do this.  Do you agree?  Stojic
warns that proving lack of market power is a lengthy and expensive
proposition.  Might be worth it to us, though.

Another idea is to somehow provide shippers with an incentive to pay more
than max rate.  After all, we do have authority to charge negotiated rates.
We've seen one instance in which one of our marketers was able to get more
than max rates for IT space based on good customer relations alone.  However,
despite our wonderful relationships with most of our customers, it's unlikely
we can pull this off with any consistency.  We wondered whether we might be
able to get more than max rates in the context of an auction procedure.  But
I just am not convinced we could get around the Commission's requirement that
recourse rates be available.  That requirement has not changed.  Have either
of you seen anything to the contrary?

I would like to meet with you two, plus several others I have in mind, to
discuss this, preferably early this week (Tues. or Wed.), but would like to
discuss briefly with you first.  Please call me so we can talk for a few
minutes.  Thanks.


Kevin,

I would greatly appreciate if you could help me in this case. Yaron's father
helped me
a lot to open many doors at Berkeley.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/25/2000
05:39 PM ---------------------------

Charlene Jackson@ENRON
10/24/2000 05:15 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Kevin Hannon/Enron Communications@Enron Communications, Kristin
Gandy/NA/Enron@Enron, Shelly Jones/HOU/ECT@ECT
Subject: Re: Yaron's Resume

Vince,
Kevin Hannon is the executive lead for Cornell and he needs to approve.   I
am not sure if they have already interviewed on campus.  He should go through
the on-campus screening process before attending a Super Saturday.  We are
reserving the Super Saturday weekend for individuals that are highly likely
to receive an offer.  I will forward this to Kevin and Kristin Gandy.
Although they are responsible for Graduate recruiting at Cornell, perhaps it
is possible for him to interview when they go on campus.
Charlene

Kevin and Kristin,
Please see Vince's message below. Would it be possible for an undergraduate
to interview while you are at Cornell?  Please let me know.

Thanks

Vince J Kaminski@ECT
10/24/2000 04:37 PM
To: Charlene Jackson/Corp/Enron@ENRON
cc: Mary Alison Bailey/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT

Subject: Yaron's Resume

Charlene,

Please, help. This is a son of a professor at Berkeley who helps me a lot in
the recruiting process.
His son goes to Cornell. Can we invite him (the son, not the professor) to a
Super Saturday? I really want
to repay the debt to his father who is very instrumental in  my recruiting
efforts.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/24/2000
04:40 PM ---------------------------

"Shmuel Oren" <oren@ieor.berkeley.edu> on 10/23/2000 04:37:25 PM
To: <vkamins@enron.com>
cc:
Subject: Yaron's Resume

?
 - Yaron-RESUME3.doc


UC Berkeley Entrepreneurs Forum
Thursday, November 29, 2001
6:30 - 8:30 PM
Haas School of Business
Arthur Andersen Auditorium
_________________________________

Topic:          The Indus Connection: East Meets West In Silicon Valley
Speakers:       Dr. Kailash Joshi, President, TiE World-wide; Vani Kola,
CEO & Founder, NthOrbit; Kumar Malavalli, Co-Founder & VP Technology,
Brocade; Moderated by Gurmeet Naroola, Author, The Entrepreneurial Connection.

Silicon Vallley's rapid growth and vibrant development has benefited
significantly from new entrants from all over the world.  Over 30% of new
ventures in the Valley since 1980 have been founded by Indian and Chinese
emigrants.  Unusually open and meritocratic, the Valley's strong network
-based culture has provided a home for many bright young engineers seeking
to establish themselves in the United States.  Natural risk takers, having
already chosen to emigrate to the U.S., they often opt to found their own
companies if careers in big firms do not prove rewarding.  Mutual support
and networking groups of all kinds enhanced the ability of these new
entrants to succeed- and succeed they did!  On November 29, we are happy to
host a panel of entrepreneurs who exemplify this important phenomenon.

Registration:
You may pre- register until Tuesday, November 27, 2001 at 4 PM. The pre-
registration fee is $35. The fee for on-site registration will be $45.
Note: On-site registration is subject to space available. The
pre-registration by MC/Visa may be faxed to (510) 642 4110 or you may call
(510) 642 4255 and pre-register over the phone. Our office hours are Monday
through Friday 8-12 and 1-5.

REMEMBER TO PRE- REGISTER!!!!!

Parking:
Throughout the time of pre-registration you can request a parking
reservation. You will be charged an additional $15 for reserved parking.

Information:
For more information on the series, please visit our web site at
http://www.haas.berkeley.edu/groups/lester/bef.html
If you wish to read more about this particular event, please go to
http://www.haas.berkeley.edu/groups/lester/nov01.html


FYI, from the EIA:

The United States consumed 19.5 million bbl/d of oil in 1999. Of this, 8.4
million bbl/d (or 43% of the total) was motor gasoline, 5.0 million bbl/d
(26%) "other oils," 3.6 million bbl/d (18%) distillate fuel oil, 1.7 million
bbl/d (9%) jet fuel, and 840,000 bbl/d (5%) residual fuel oil. U.S. oil
demand is expected to increase by about 110,000 bbl/d (0.6%) in 2000.

and

Continued lower U.S. crude oil production combined with strong oil demand led
the United States to import 10.6 million bbl/d of oil in 1999, representing
54% of total U.S. oil demand. Around 46% of this oil came from OPEC nations,
with Persian Gulf sources accounting for about 23% of U.S. oil imports during
the year. Overall, the top suppliers of oil to the United States for 1999
were Canada (1.67 million bbl/d), Saudi Arabia (1.46 million bbl/d),
Venezuela (1.45 million bbl/d), and Mexico (1.30 million bbl/d).

and from Reuters:

WASHINGTON (Reuters) - The United States decided on Friday to release oil
from its Strategic Petroleum Reserve to damp decade-high energy prices, the
first time the stockpile has been tapped for a national emergency since the
1991 Gulf War.

Energy Secretary Bill Richardson said the U.S. government would release 30
million barrels of oil over a 30-day period from its 571-million-barrel
reserve created after the 1973 Arab oil embargo that choked off world growth.

``We are prepared to take further action if necessary,'' he told a hastily
convened news conference after an all-day meeting of administration officials.

The announcement by Richardson followed an intense and unusually public
debate by Clinton administration officials in recent days that raised
accusations the White House was trying to help Democratic presidential
candidate Vice President Al Gore (news - web sites) win the Nov. 7 election.

The debate intensified after Gore urged President Clinton (news - web sites)
on Thursday to release oil from the reserve in batches of 5 million barrels.

Gore's call, made within weeks of the November election, was criticized by
his Republican rival George W. Bush (news - web sites) as ``bad policy''
motivated by the need to assure Gore's victory.

``It's a bad idea because the Strategic Petroleum Reserve needs to be used in
case of war or a major disruption,'' Bush told reporters, in response to
Richardson's announcement, at a campaign stop in Tampa, Florida.

``I believe that the vice president has made this decision with the
president's support to achieve short-term political gain,'' he added.

that's enough oil for 1 day and 14 hours, or reducing for one month by 10%
the amount we need to import--this is not a solution.  our oil reserves cover
100% of our export needs for 54 days--this may not be the best use.  bush
(steve aside from the ferc complaints) may want to focus on the following
from msnbc regarding gasoline prices:

? ? ?In the Midwest, the nation,s most expensive gasoline market this week,
oil companies blamed the $2-a-gallon-plus prices on taxes and the cost of
introducing new federally-required cleaner fuel this month. The price spike
prompted the Federal Trade Commission to open a formal investigation into
possible price gouging and collusion, and has led Indiana,s governor to
suspend the state,s gasoline sales tax for 60 days.

realizing that only 43% of gas pump price is composed of crude oil--the rest
28% taxes and 29% refining costs, distribution costs, and profits.

Alhamd Alkhayat
+1(713)853-0315


oh yea

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 19, 2001 10:30 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

so YOU watched it??

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 19, 2001 10:28 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

They tried not to show their back-ends-it was rather bazarre

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 19, 2001 10:20 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

i did hear that it was rather revealing

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 19, 2001 10:09 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

no-just a real man

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 19, 2001 10:07 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

missed it - you must think i am a perve

how is the new floor

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 19, 2001 10:06 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

Did you watch the Victoria's Secret Fashion Show last week

 -----Original Message-----
From: 	Evans, Ted
Sent:	Friday, November 16, 2001 7:27 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

i thought felicity was supposed to be a good girl??

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Thursday, November 15, 2001 8:41 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I missed half of it but it was pretty good.  Ben found out thatDFelicity cheated on him

 -----Original Message-----
From: 	Evans, Ted
Sent:	Thursday, November 15, 2001 8:04 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

how was felicity??

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Wednesday, November 14, 2001 10:27 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

probably

 -----Original Message-----
From: 	Evans, Ted
Sent:	Wednesday, November 14, 2001 9:51 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

you would be so bored

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Wednesday, November 14, 2001 9:39 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

Lucky for me that retirement is also an option

 -----Original Message-----
From: 	Evans, Ted
Sent:	Wednesday, November 14, 2001 9:25 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

so - are you going to sign on with reliant or eprime or cinergy or who??

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Wednesday, November 14, 2001 9:06 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

possibly-in my old age

 -----Original Message-----
From: 	Evans, Ted
Sent:	Wednesday, November 14, 2001 7:42 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

a little fiesty this morning??

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Wednesday, November 14, 2001 7:38 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

It was really good.  Next wek you can watch Jennfer Lopez-I bet you can watch her bits and pieces.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Wednesday, November 14, 2001 7:32 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

bits and pieces - you?

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Wednesday, November 14, 2001 7:00 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

Did you watch Michael Jackson yesterday?

 -----Original Message-----
From: 	Evans, Ted
Sent:	Tuesday, November 13, 2001 11:41 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

um yeh - - me too,  can i fit in your suitcase??

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, November 13, 2001 10:43 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

My resume is finished and the job offers are pooring in

 -----Original Message-----
From: 	Evans, Ted
Sent:	Tuesday, November 13, 2001 10:26 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

no overlap in EES - have you written yours, or are you just going to retire...

ha ha

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, November 13, 2001 10:18 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

you should be working on your resume

 -----Original Message-----
From: 	Evans, Ted
Sent:	Tuesday, November 13, 2001 9:57 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

actually forced myself to read last night - trying to get smart

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, November 13, 2001 9:55 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

They have some cute guy lawyers this year-but I bet you probably watch that manly Monday night Football.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Tuesday, November 13, 2001 9:55 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

bits and pieces - never really got into Ally

i assume you did..

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, November 13, 2001 9:53 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

Did you watch Ally last night?

 -----Original Message-----
From: 	Evans, Ted
Sent:	Tuesday, November 13, 2001 9:50 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

such a tough life

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, November 13, 2001 9:49 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I saw the tv advertisement last night for Temptation Island for Thursday.  I think it may conflict with Will and Grace.  Could be a tough night.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 4:00 PM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

it looks to be on Thursdays at 8

http://www.fox.com/temptation2/home.htm

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 3:45 PM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I was looking in the TV guide and did not see where it is on this week let me know if they changed the date and time.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 11:49 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

um.....no....sorry - i guess he is why you are watching?

aren't there good looking boys on the island?

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 11:20 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

Have you seen Ben on Felicity?

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 11:01 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

i don't understand how you put Felicity on the same level at TI2...

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 10:45 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I am a desperate person for entertainment-what can I say.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 10:35 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

that is horrible - i am embarrassed for you...

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 10:31 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

it's on the sasme night as Felicity

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 10:30 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

that's no fun

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 10:27 AM
To:	Evans, Ted
Subject:	FW: How good is Temptation Island 2

 -----Original Message-----
From: 	Evans, Ted
Sent:	Friday, November 09, 2001 7:46 AM
To:	Tholt, Jane M.
Subject:	How good is Temptation Island 2

I'm not sure I'm going to watch it.  None of the people really interest me


I have received an inquiry through one of our employees (David Barr)
from Chicago Partners, a consulting firm in Chicago. They specialize, among
other
things, in regulatory economics and could be useful as experts in our
discussions with
the government and regulatory agencies.

One of the partners, Christopher Culp, is a well known commodity markets
expert.

Please, let me know if you are interested.

Vince Kaminski


The following reports have been waiting for your approval for more than 4 days.  Please review.

Owner: Justin K Rostant
Report Name: Rostant 112001
Days In Mgr. Queue: 6