Notice # 01-156
May 9, 2001

TO:
All NYMEX Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
NYMEX Post-Close Trading Session Rules

DATE:
May 8, 2001
===========================================================

This Notice advises Members and Member Firms of changes to the two
post-close session rules applicable to the NYMEX Division.

!    As a result of amendments to both rules, the post-close sessions
generally offered Monday-Thursday will be the same as the Friday sessions
with two exceptions.

!    Monday-Thursday. These sessions will start at 3:25 p.m. and will be
two minutes long.

!    Fridays. These sessions will start at 3:30 p.m. and will be five
minutes long.

End of Week Post-Close Trading Session (Rule 6.57A)

As a reminder and as a follow-up to a Notice distributed last week, please
be advised that beginning on Friday, May 11, 2001, a number of amendments
to NYMEX Rule 6.57A, the NYMEX End of Week post-close trading session rule,
will become effective. The new version of this rule is attached below.

For Friday post-close sessions (and for post-close sessions the day before
a mid-week Exchange holiday) the following changes will be in effect:

(1)  Eligible contract months will be expanded from the first four to the
first 12 consecutive listed contract months.

(2)  The sessions now will be 5 minutes in duration.

(3)  The trading range for these sessions will be expanded by adding the
following ticks above (below) the
daily high (low) for the applicable contract month (provided that this
expanded trading range does not violate the maximum permissible price
fluctuation limits then in effect):

Crude Oil      20 ticks
Heating Oil         50 ticks
Unleaded Gas        50 ticks
Natural Gas         50 ticks

Monday-Thursday Post-Close Trading Sessions (Rule 6.57)

In addition, please be advised that beginning on Monday, May 14, 2001, a
number of amendments to NYMEX Rule 6.57, the Exchange's post-close trading
session rule for days other than Fridays, will become effective.  The new
version of this rule is attached below.

(1)  Eligible contract months will be expanded from the first four to the
first 12 consecutive listed contract months.

(2)  The trading range for these sessions will be expanded by adding the
following ticks above (below) the
daily high (low) for the applicable contract month (provided that this
expanded trading range does not violate the maximum permissible price
fluctuation limits then in effect):

Crude Oil      20 ticks
Heating Oil         50 ticks
Unleaded Gas        50 ticks
Natural Gas         50 ticks

(3)  Customer participation will be expanded to the same extent as is
permitted for the End of Week Post Close Session. Please note that any
order submitted during the RTH session, including but not limited to
resting orders such as stop orders, limit orders and good until cancelled
(GTC) orders, will be deemed to have expired as of the end of RTH for
purposes of this Session.  Accordingly, in the event that a market
participant with such an expired order seeks to participate in the Session,
a new order must be submitted.

(4)  As a consequence of the expanded trading range and customer
participation, trades done during this period will be price reported on
PRS.

Finally, please be advised that, as a matter of practice, the Exchange does
not currently offer post-close trading sessions for Propane futures
contracts.

If you have any questions concerning these changes, please contact George
Henderson, Vice President, NYMEX Floor Department, at (212) 299-2071; Rob
Stasi, Manager of Trading Floor Systems, NYMEX Floor Department, at (212)
299-2067, or Brian Regan, Senior Associate General Counsel, at (212)
299-2207.

NEW VERSIONS OF  NYMEX RULE 6.57("POST-CLOSE TRADING SESSION") AND
NYMEX RULE 6.57A ("END OF WEEK TRADING SESSION")

Rule 6.57.      ("POST-CLOSE TRADING SESSION")

Fifteen (15) minutes after the close of trading in all futures contracts,
or five (5) minutes after the closing range is established for all
applicable contract months other than contract months in the Sour Crude Oil
futures contract, whichever is later, trading shall resume for a period of
two (2) minutes (the ``Session'') in all energy futures contracts, subject
to the following conditions:

(A) Trading during the Session shall be limited to the first twelve listed
delivery months;

(B) Trades occurring during the Session for a particular contract month of
a futures contract shall be executed openly and competitively at a price
within the daily trading range of the applicable contract month for that
futures contract and as further expanded above the daily high and below the
daily low only for the contracts listed below provided however that no such
expanded trading range may exceed the price fluctuation limits in effect
for the applicable contract as of the end of the RTH session:

Contract                 Additional Ticks

Crude Oil                20 ticks
Natural Gas                   50 ticks
Unleaded Gasoline             50 ticks
Heating Oil                   50 ticks

(C) During the Session, Floor Members, Floor Brokers and their customers
may participate in the same manner as trading occurring during the regular
RTH session, except that any order submitted during the RTH session,
including but not limited to resting orders such as stop orders, limit
orders and good until cancelled (GTC) orders, will be deemed to have
expired as of the end of RTH for purposes of this Session.  Accordingly, in
the event that a market participant with such an expired order seeks to
participate in the Session, a new order must be submitted.

(D) Prices for trades executed during the Session shall be reported on
public ticker services as current market prices and trades executed during
the Session shall not be considered in determining any settlement price;
and

(E) Floor Members executing trades during the Session shall mark a line
across their trading cards prior to the entry of a Session trade.

Rule 6.57A.     END OF WEEK TRADING SESSION

On the last trading day of the calendar week, and, in any week when an
Exchange holiday falls on a Tuesday, Wednesday or Thursday on the trading
day preceding such midweek Exchange holiday, there shall be no post-close
trading session provided on the trading floor pursuant to Rule 6.57.
Instead, on such dates, an end of week trading session (the "End of Week
Session'') shall commence on the trading floor pursuant to this rule and
subsequent to the close.  Except as otherwise provided by the President or
the President's designee for a particular trade date, such End of Week
Session shall commence twenty (20) minutes after the close of trading in
all futures contracts and shall continue for a period of  five (5) minutes
in all energy and metals futures contracts, subject to the following
conditions:

(A) Trading during the End of Week Session shall be limited to the first
twelve listed delivery months;

(B) Trades occurring during the End of Week Session for a particular
contract month of a futures contract shall be executed openly and
competitively at a price within the daily trading range of the applicable
contract month for that futures contract and as further expanded above the
daily high and below the daily low only for the contracts listed below
provided however that no such expanded trading range may exceed the price
fluctuation limits in effect for the applicable contract as of the end of
the RTH session:

Contract                 Additional Ticks

Crude Oil                20 ticks
Natural Gas                   50 ticks
Unleaded Gasoline             50 ticks
Heating Oil                   50 ticks

(C) During the End of Week Session, Floor Members, Floor Brokers and their
customers may participate in the same manner as trading occurring during
the regular RTH session, except that any order submitted during the RTH
session, including but not limited to resting orders such as stop orders,
limit orders and good until cancelled (GTC) orders, will be deemed to have
expired as of the end of RTH for purposes of this End of Week Session.
Accordingly, in the event that a market participant with such an expired
order seeks to participate in the End of Week Session, a new order must be
submitted.

(D) Prices for trades executed during the End of Week Session shall  be
reported on public ticker services;

(E) Current market prices and trades executed during the End of Week
Session shall not be considered in determining any settlement price; and

(F) Floor Members executing trades during the End of Week Session shall
mark a line across their trading cards prior to the entry of an End of Week
Session trade.

      Carr Futures
      150 S. Wacker Dr., Suite 1500
      Chicago, IL 60606  USA
      Tel:  312-368-6149
      Fax:  312-368-2281
      soblander@carrfut.com
      http://www.carrfut.com


Keegan,  Please print out 6 executables of the following:

And 8 executables of the following:

Please FEDEX two original two each counterparty to the address listed in the contract.  Some counterparties are on both contracts, so they will recieve four originals for execution.  Let me know if you have any questions.

Sorry for the delay on this Jill, I was out sick yesterday.


Gentlemen

Attached is a fairly comprehensive list of companies in various sectors of the petroleum complex.  It is by no means comprehensive and I am sure there are several players that have been left out inadvertently.  I broke it down as follows:

Oil & Refined Products
Trading & Marketing Companies (Physical & Financial)
Financial Traders (Generally Financial only)
North American Refiners
Foreign Refiners w/ US Marketing Cos.
Asian Trading Houses
Convenience Store Operators (For rack marketing idea)
Crude Oil Producers (main business, not really into trading)
Oil Products Pipelines

Petchem, Chemical, and NGL
Gas Liquids Companies
Chemical & Petrochemical Companies
Industrial Gas Companies

Product List
List of products with perceived commodity products bolded

It is a bit difficult to put some companies into one bucket or another due to the cross over, but I tried.  I also should receive much better information tomorrow on the NGL companies that is more granular.  The list is intended to be a beginning and my intent was to begin eliminating companies to focus in on who are the dominant players in the major products in the various parts of the country.  Some players such as Global and Northville, for example are dominant in the Northeast, but not as much elsewhere.  Methanex, for example is the dominant Methanol producer/trader.  Enterprise is a big importer/storage owner in Mt. Belvieu so should be a good company to approach for the NGLs.  Once we refine the list a bit more, we will have a basis on who are the most likely candidates.

Let me know what you think, be forgiving of errors, and be mindful that this is a working document.  Before we start researching specific companies, let's whittle this list down considerably.

JC


Kim:

thanks for passing this on.  For my info, what is the minimum volume your
group likes to work with.  We have other customers and I want to make sure I
include you in other sourcing events as they fit your profile.

Derek:

when do you think you can get back to me on this?  Can you email me your
contact information.  Look forward to working with you.

Best Regards,

Walter Rogers
bluInc
(713) 942-0631 office
(832) 264-3222 cell
(413) 803-5661 e-fax
www.bluinconline.com
wrogers@bluinconline.com

****************************************************************************
***********************************
This message is intended only for the use of the Addressee(s) and may
contain information that is PRIVILEGED and CONFIDENTIAL. If you are not the
intended recipient, dissemination of this communication is prohibited.  If
you have received this communication in error, please erase all copies of
the message and its attachments and notify the sender.
****************************************************************************
***********************************

-----Original Message-----
From: Ward, Kim S (Houston) [mailto:Kim.Ward@enron.com]
Sent: Wednesday, June 27, 2001 10:24 AM
To: walter.rogers@insync.net
Cc: Kelly, Derek
Subject: RE:

Walter,

I was out sick most of the day yesterday.  Sorry.  These volumes are
really small for me to work with since I am on the Wholesale side of
Enron.  However, I have passed the information and your name on to Derek
Kelly who works with our retail customers out of the San Francisco
office.  If he is not able to help you - please let me know.

Thanks,

Kim

>  -----Original Message-----
> From: 	"Walter Rogers2" <walter.rogers@insync.net>@ENRON
> [mailto:IMCEANOTES-+22Walter+20Rogers2+22+20+3Cwalter+2Erogers+40insyn
> c+2Enet+3E+40ENRON@ENRON.com]
> Sent:	Tuesday, June 26, 2001 5:48 PM
> To:	Ward, Kim S (Houston)
> Subject:
>
> was the load info I sent you what you needed?
>
> Best Regards,
>
> Walter Rogers
> bluInc
> (713) 942-0631 office
> (832) 264-3222 cell
> (413) 803-5661 e-fax
> www.bluinconline.com
> walter.rogers@insync.net
>
> **********************************************************************
> ******
> ***********************************
> This message is intended only for the use of the Addressee(s) and may
> contain information that is PRIVILEGED and CONFIDENTIAL. If you are
> not the
> intended recipient, dissemination of this communication is prohibited.
> If
> you have received this communication in error, please erase all copies
> of
> the message and its attachments and notify the sender.
> **********************************************************************
> ******
> ***********************************
>
>
>  - winmail.dat << File: winmail.dat >>


Recently, Jeff McMahon, Executive Vice President and Treasurer of Enron
Corp., accepted the position of Chief Commercial Officer of Enron Net Works.
Jeff's many accomplishments at Enron Global Finance ("EGF") include over $30
billion of closed financings and an upgrade of Enron's credit rating by
Moody's to Baa1.  We wish Jeff well in his new endeavor.

Ben Glisan, Vice President and head of EGF's Structured Finance business,
will assume Jeff's responsibilities as Vice President and Treasurer of Enron
Corp.  Ben joined Enron in 1996 from Arthur Andersen where he was responsible
for managing structured transactions with Enron.  Prior to Arthur Andersen,
Ben worked at Coopers & Lybrand providing accounting and finance services
principally to financial institutions.  Ben will be a member of the Enron
Corp. Executive Committee.

For additional details regarding EGF's organizational changes, please see the
attached memo.


Thanks for the interest so many of you have shown in Trash Bash.  Several of
you are of the mistaken idea that TRASH BASH is tomorrow.  It is not until
SATURDAY, MARCH 31, 2001.   Registration will be in Sam Houston Park and
trash will be picked up along Buffalo Bayou from So. Shephard to the Wortham
Center.   The work areas will be divided into 8 to 10 Sections.  When you
check in, you will be assigned to a work section.  If you are going to work
at the Registration Desk, you need to be at Sam Houston Park by 7:30 AM.  If
you are going to pick-up trash, you need to be at Sam Houston Park by 8:00 AM.

There will be a pre-registration desk set up in the Lobby of the Enron Bldg.
sometime during the week of March 26th and I will let you know the exact
dates when they are given to me.  If you pre-register, you won't have to
stand in the long lines at Sam Houston Park.

Thanks again for your interest and help.

Anita


I think my bicycle is 52 centimeters.  I hope you have a tire pump, because I
don't and I haven't ridden the bike in about a year and I know the tires are
totally flat.

	"Patti Young" <pyoung@cliverunnells.com>
	02/28/2001 12:44 PM

		 To: <Tana.Jones@enron.com>
		 cc:
		 Subject: RE: Monday

Tana Lou,

I am back to bugging you about your bicycle.  Let me know when I can
schedule a test ride.

Patti

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Monday, February 26, 2001 8:10 AM
To: pyoung@cliverunnells.com
Subject: Re: Monday

Offer still good.  How goes things with the new beau?  Also, thanks for the
cooked meats.  They were delicious!

                    "Patti Young"
                    <pyoung@cliverun        To:     "Tana Jones"
<tana.jones@enron.com>
                    nells.com>              cc:
                                            Subject:     Monday
                    02/26/2001 12:08
                    PM

Morning, Glory,

Hope you are doing well and had a good weekend.

I am still considering the MS 150 and wanted to know if your offer is still
good for borrowing your bicycle.  If you have changed your mind, it is no
big deal.  Promise!

Patti


Christie,

Thanks for the invitation.
I shall see you on Friday.

Vince

Christie Patrick
01/10/2001 05:35 PM
To: Thomas E White/HOU/EES@EES, Judy G Smith/HOU/EES@EES, Terence H
Thorn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James Prentice/GPGFIN/Enron@ENRON,
Peter E Weidler/NA/Enron@Enron, Vince J Kaminski/HOU/ECT@ECT, Christi L
Nicolay/HOU/ECT@ECT, Peggy Menchaca/Corp/Enron@ENRON, Ted
Ryther/OTS/Enron@ENRON, Dom Izzo/HOU/EES@EES, Larry L
Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Anne Jolibois/FGT/Enron@ENRON,
Linda Harris/FGT/Enron@Enron, Ann M Schmidt/Corp/Enron@ENRON, Cindy
Richardson/Corp/Enron@ENRON, Alhamd Alkhayat/NA/Enron@ENRON, Traci
Warner/Enron Communications@Enron Communications, Dave
Schafer/NA/Enron@ENRON, Julia White/ET&S/Enron@ENRON, Gene
Humphrey/Enron@EnronXGate, James Saunders/FGT/Enron@ENRON, Philip
Bazelides/HOU/AZURIX@AZURIX, James M
Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lohit
Datta-Barua/OTS/Enron@Enron, Janice Hogan/GPGFIN/Enron@ENRON, Kenneth
Lay/Corp/Enron@ENRON, Larry Reynolds/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob
Walls/NA/Enron@Enron, Cindy Hodges/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Rockford Meyer/FGT/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Ken Rice/Enron
Communications@Enron Communications, Chris Holmes/HOU/EES@EES, Kelly
Allen/HOU/EES@EES, Carol Barcus/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick
Craig/OTS/Enron@ENRON, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron
cc:
Subject: Leonard Hilton Reception-DIRECTIONS-PARKING

Dear Friends,

Attached please find the EASIEST directions to   the University of Houston
Athletic/Alumni Center (from downtown).

I've also indicated the preferred parking areas.  The page looks large on
your screen, but prints normally.

Just to make sure everyone's set, I'm also attaching the invitation.

The PROGRAM will take place from 5:50 - 6:20, though the reception and track
meet will start before and continue thereafter.

I am very honored you will be able to join me.

Sincere thanks!

--Christie.


Here are my edits.  CV, I didn't see your pictures for the cash flow
statements.

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax
 - home depot memo.doc


He joined the group 2 weeks ago.   Put him in my cost center.

	From:  Edie Leschber                           01/02/2001 05:48 PM

To: John Arnold/HOU/ECT@ECT
cc:
Subject: Financial Group - Gas Team

John,
Is there a man by the name of Henry (Dutch) Quigley who will be working in
your group?  His name was not on the list I sent to you previously,
but he showed up on another list from HR as being assigned to your group.
Please let me know and I will make any necessary adjustments
to your cost center for him.

Thank you,
Edie Leschber
X30669


Yes.

 -----Original Message-----
From: 	St. Clair, Carol
Sent:	Monday, November 05, 2001 5:00 PM
To:	Heard, Marie
Subject:	RE: Master Netting Agreement Assignments

Marie:
I have a binder of Williams' contracts in my office on 45.  Do you need it?

Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-8537 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
carol.st.clair@enron.com

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, November  5, 2001 4:58 PM
To:	Aronowitz, Alan; Athena Alexander (E-mail); Clark, Morris; Cook, Mary; David Mitchell (E-mail); Davis, Angela; Del vecchio, Peter; Douglas, Stephen H.; Evans, Mark (London Legal); Gaffney, Chris; Gray, Barbara N.; Hansen, Leslie; Heard, Marie; Hendry, Brent; Hodge, Jeffrey T.; Johnston, Greg; Jones, Tana; Keohane, Peter; Koehler, Anne C.; Lech Kalembka (E-mail); Leite, Francisco Pinto; Marissa Morelle (E-mail); McCullough, Travis; Mellencamp, Lisa; Murphy, Harlan; Murray, Julia; Nemec, Gerald; Portz, David; Rick Antonoff (E-mail); Rohauer, Tanya; Sager, Elizabeth; Sayre, Frank; Shackleton, Sara; Simons, Paul; St. Clair, Carol; Van Hooser, Steve; Viverito, John; Von Bock Und Polach, Marcus; Williams, Jason R (Credit)
Subject:	Master Netting Agreement Assignments

Updated list of master netting agreement assignments.

	 << File: MASTER NETTING AGREEMENT ASSIGNMENTS.doc >>


Just so you had the latest matrices; although some of you directly received
these materials.  I anticipate being able to send you a revised draft of the
Purchase and Sale Agreement by next Tuesday morning.  No doubt, everything
will become clear in the next draft - materiality, Subject Companies,
required Authorizations, etc.  I anticipate circulating a full draft of the
Schedules by mid next week.  The plan would be to revise the draft schedules
based on the revised text of the Agreement and your further review of the
respective businesses generally.  We will also need to keep in mind some
sense of conformity as to how each unit is making their respective
disclosures.  The Schedules will not need to win an award for beauty at that
point, but do need to be well organized and make sense.  I encourage each of
the General Counsels to coordinate with Mary Joyce on HR matters, Frank Smith
or Dave Nutt on environmental matters, Cullen Duke on tax matters, Bob
Williams and Chuck Cheek on litigation matters, Rick Shapiro on regulatory
matters, and Jim Bouillion on insurance matters, just to make sure nothing
slips through the cracks.  Timing of course is critical.  The Disclosure
Schedules may become critical path items, and we may all hear that.    I
expect there will be great progress generally next week, and there will be
tremendous pressure to deliver a complete draft of the Schedules to Skadden
soon after the end of next week.  Your comments would likely need to be in by
the end of the week - sorry.  Please be aware that the Business Unit heads,
right before execution of the Agreement, are likely to have to sign-off on
the disclosures under the Agreement.  Truly, thanks for all the help.  Send
money or Disclosure Schedules.  Lance.
----- Forwarded by Lance Schuler-Legal/HOU/ECT on 07/21/2000 05:07 PM -----

	Nicole Alvino
	07/21/2000 12:22 PM

		 To: Bill Gathmann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Randy
Young/SA/Enron@ECT, John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Fred L Kelly/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathleen
Carnahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daniel
Castagnola/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricky Lynn
Waddell/SA/Enron@Enron, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeffrey E
Sommers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ananda
Mukerji/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christopher B
Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joseph Franz/Corp/Enron@Enron,
lbrasher@skadden.com, bhoghooghi@skadden.com, Sashby@skadden.com
		 cc: Cheryl Lipshutz/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Cullen
Duke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan Johnson/GPGFIN/Enron@ENRON,
Richard Shapiro/HOU/EES@EES, Lance Schuler-Legal/HOU/ECT@ECT, Shonnie
Daniel/HOU/ECT@ECT, Amit Walia/HOU/ECT@ECT, Ceci Torn/Corp/Enron@ENRON,
Patrick Conner/HOU/ECT@ECT, mspradling@velaw.com, jdilg@velaw.com,
wjoor@velaw.com, sbarber@velaw.com, ashouse@velaw.com, ckornreich@velaw.com,
jkamine@velaw.com, bweiland@velaw.com, jamie.welch@csfb.com,
david.munoz@csfb.com, Victor.gonzalez@csfb.com, bradley.aitken@velaw.com
		 Subject: Project Summer Matrices

Attached please find the latest and greatest ABC matrix and Gty, LC, and
affiliate contract matrix.  The information has been updated in red by
comments we have recieved from the EI business units.  The new transfer level
and sever level info came from the A/B/C structure task force.  (Please note
that the A/B transfer level is the same as the sever level unless ptherwise
noted.)  It still needs to be reviewed by both sides.  We are waiting for
final regulatory issues and action items this weekend after a collaborative
effort from both sides.  There are still pieces of info in these matrices
that the deal team needs that are highlighted in blue.  Please fill in TBD to
the extent you can determine and send it back in green.

Please review both matrices and send changes to Nicole Alvino and Bill
Gathmann.

Thanks so much for all your help!


-----Original Message-----
From: Siegel, Misha
Sent: Thursday, August 30, 2001 2:40 PM
To: Derrick Jr., James; Haux, Katrin; Kean, Steven J.; Kimberly, Kelly
Cc: Ventura, Cynthia; Olson, Cindy
Subject: FW: Good morning

Attached is a list of speakers that the Houston Forum is bringing to town.  Enron is a corporate member of this organization.  Each of the speakers has a different focus area, so I am routing this to each of you for your individual input.  If you think that we should underwrite any of these, please let me know.
Thanks for lending your expertise.
Misha
3-7682

 -----Original Message-----
From: Olson, Cindy
Sent: Thursday, August 30, 2001 2:22 PM
To: Siegel, Misha
Subject: FW: Good morning

Misha please handle.
-----Original Message-----
From: SSoloevent@aol.com [mailto:SSoloevent@aol.com]
Sent: Thursday, August 30, 2001 11:00 AM
To: Olson, Cindy
Cc: Kalmans, Elyse
Subject: Good morning

Dear Ms.Olson:

I was speaking with Missy Stephens yesterday and she told me you would be the
appropriate person to address this request.

I am excited to be working on many development and event projects, and it is
in that context that I write.

I know you are familiar with The Houston Forum's long-standing reputation as
the preeminent speakers forum in Houston. I know they welcome your support
and sponsorship in any way you deem appropriate, but we hope Enron is able to
participate as a program underwriter and/or sponsor. The following is a list
of the confirmed speakers over the next several months as well as those
pending for 2002:

1. The Honorable Alberto Gonzales, Cousel to the President George  W. Bush
will join us for a luncheon program on Sept. 7th at the Houston Club. This
program is being done in conjunction with the Houston Bar Association.

2. Robert Reynolds-Vice Chairman and COO of Fidelity Investments is
presenting on September 19th in a late afternoon event at the Junior League.

3. Septemeber 24th is our Energy Roundtable luncheon program-moderated by
Matt Simmons of Simmons & Co.-at the Hyatt Regency.

4. On October 3rd, we host Supachai Panitchpakdi of Thailand-the director
General of the World Trade Organization. This is a luncheon program to be
held at the Houston Club.

5. November 13th we will welcome presidential historian and analyst, Michael
Beschloss. Dr. Beschloss will discuss his most recent publication on the
tapes of President Lyndon Johnson. This will be a very popular event and
there are special sponsorship opportunities attendant with it.

6. On December 6th, we are pleased to host The Honorable David Ivry-Israel's
Ambassador to the United States. This afternoon program will take place at
the Junior League.

7. March 11, 2002, is the date for our luncheon program at the Hyatt Regency.
Our very special guest will be the Honorable James A. Baker III, 61st U. S.
Secretary of State. This event will certainly sell out.

8. State Senator Rodney Ellis will join us on April 28, 2002.

Robert Bartley, Editor of the Wall Street Journal, will be speaking in 2002,
but the date and venue are pending. We are also planning on hosting the
Honorable John Breaux, U. S. Senator, and Cabinet officials Paul O'Neill and
Spencer Abraham.

If I might, let me share with you the particulars of the sponsorships and
underwriting options available to  you.

A sponsorship of $10,000 will enable you or your designee to introduce the
speaker from the podium. You will also be given 8 memberships for a year and
2 tables for the luncheon that you particularly sponsor. Additionally, you
will have your logo on the program on the day of the event as well as on the
website that enumerates all of our programs. You and your designees will be
able to attend all private receptions before our events.

A $2,500 sponsorship will provide Enron program logo exposure on the day of
the event, a free table for 10 on that date, an invitation to the private
reception prior to the event and a presence on our website. Finally, you will
be given 4 complimentary memberships for a year.

A donation of $1,000 will enable you to place your logo on our program on the
day of the event.

All of your sponsorships/donations are tax deductible and you will be
identified as a sponsor in all of our corporate literature for a year.

The November 13th program with Dr.Beschloss provides, as mentioned, special
visibility. In addition to all things inherent in the $2,500 sponsorship, a
$7,500 donation gives that particular sponsor a chance to print and insert
corporate bookplates in all of our speaker's books to be sold at the event.
You will also be able to separately sponsor a dinner with Dr. Beschloss and
the guests of your choice.

Please let me know if you have any questions and I will be happy to visit
with  you in person if you would like. Again, thank you for your time and
consideration of these high profile programs. I will follow up on this note
in 2 weeks.

Sincerely,

Sherry Solomon
On behalf of The Houston Forum

Event Planners Plus, Inc.
11005 Francoise Blvd.
Houston, Texas 77042

713-785-8816 (office)
713-787-9678 (fax)
ssoloevent@aol.com (e-mail)
website-www.eventplannersplus.org


fyi...
Thanks.
---------------------- Forwarded by Sharon Tanner/GPGFIN/Enron on 05/30/2000
04:02 PM ---------------------------

GPG DSS
05/08/2000 11:06 AM
To: GPG Decision Support A-B, GPG Decision Support C-D, GPG Decision Support
E-HA, GPG Decision Support HE-MC, GPG Decision Support ME-Q, GPG Decision
Support R-S, GPG Decision Support T-Z
cc:

Subject: ACT: New DSS Change Password Procedure

To All DSS Users,

Currently there is no mechanism for changing your password on DSS.

On May 15, 2000, we will be putting a new procedure into effect that will
function similarly to the LAN change password procedure.  Passwords for DSS
users will begin to expire in early June, and every 60 days thereafter.  You
will be receiving 5 Password Expiration e-mails as the deadline approaches.
Each of these messages will notify you that your DSS password will expire in
the specified time interval.

These e-mails will be sent as follows:
E-mail  #1 - 2 weeks before expiration date
 #2 - 1 week before expiration date
 #3 - 2 days before expiration date
 #4 - 1 day before expiration date
 #5 - The day the password expires

We now have a new module that will allow you to change your password.  When
this module is executed, a window will display which will prompt you for your
current password, New password, and repeat New password.  There are certain
criteria that the new password must meet for it to successfully change.
Follow the instructions on this window to choose a new password.  You may run
this module anytime, but once you change your password, the module must be
closed before it can be run again.

Please Detach (double-click) the following module and save it in the location
that you normally save your DSS modules/databases.  This may be on your hard
(C:) drive or personal (H:) drive.  As long as you remember where it is, it
really doesn't matter where you save it.  When the time comes, Execute
(double-click) the module to change your DSS password.

If you have any questions or problems, please call the DSS HelpDesk at
x31555, option 6 OR Lotus Notes e-mail at GPG DSS.

Thank you.


Not dead yet.  Ozzie and Heather are looking at some other possibilities.
They don't want to lose momentum until it is clear that there aren't other
viable alternatives.

Kay

	Enron North America Corp.

	From:  Mitch Robinson                           09/06/2000 12:49 PM

To: Kay Mann/Corp/Enron@Enron
cc: Kevin M Presto/HOU/ECT@ECT

Subject: Re: Edgecombe PPA

Kay -

I heard yesterday that this deal was dead due to the flooded Westinghouse
generator.  Not true?

Mitch

	Enron North America Corp.

	From:  Kay Mann                           09/06/2000 12:13 PM

To: Jeffrey Keenan/HOU/ECT@ECT, John Moore/Corp/Enron@Enron, Reagan
Rorschach/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT, Mitch
Robinson/Corp/Enron@Enron, Herman Manis/Corp/Enron@ENRON, Brian
Kerrigan/HOU/ECT@ECT
cc:

Subject: Edgecombe PPA

FYI.
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/06/2000 12:11
PM ---------------------------

"Nancy Wodka" <nwodka@bracepatt.com> on 09/06/2000 11:56:47 AM
To: <heather.kroll@enron.com>, <kay.mann@enron.com>, <ozzie.pagan@enron.com>
cc:

Subject: Edgecombe PPA

Please see attached clean and blackline copies of the revised agreement for
your review, per my discussion with Kay yesterday.

 - CLN10.DOC
 - RED10.DOC


Attached is the update for today, which corresponds with my voicemail that I
left this evening.  I should have more content gathered for tomorrow's
update.

Also as an FYI, I did email the draft of the New Orientation presentation (on
a blue background) to Celeste for review first thing this AM.

I will be in touch.

Julie


ENE: Reiterate Buy; Believe Leadership Still Intact

* ENE has underperformed its peer group of Energy Merchants.  Stock
price down 39% from 52-week high ($90 on August 23) vs. peer group, up 1.9%.
* We reiterate our Buy rating on the stock, and believe the weakness
is largely due to concern over ENE's group-high P/E multiple and PEG ratio
of 27x and 1.3x, respectively (group average 19x and 1.0x), coupled with a
series of concerns over various parts of Enron's business: bandwidth, India,
etc.
* Our sense is that the bandwidth unit is performing on target, and is
likely to beat the strong numbers posted last quarter.  India, while a
significant issue, remains a small part of Enron's asset base (about 4%).
It is a legacy business, in our view, and does not materially affect our
overall view of the company.
* We see ENE's business fundamentals intact, and in fact, improving.
Growth rate expansion to 25% from 20%; growing returns on capital; bandwidth
trading all good reasons to own stock -- justify premium valuation.

 <<ENE 5-18-01 Reiterate Buy.doc>>  <<ENE 5-18-01 Reiterate Buy.pdf>>

Raymond C. Niles
Power/Natural Gas Research
Salomon Smith Barney
(212) 816-2807
ray.niles@ssmb.com

s

 - ENE 5-18-01 Reiterate Buy.doc
 - ENE 5-18-01 Reiterate Buy.pdf


Guys,

As of this morning, these are the counterparties that are not trading with us:

BHP Billiton--no coal, yes vessels

Koch-generally no crude and products, but they have traded some small weather products.

Shell  (Stasco, Equiva)--no trades

Bank of Montreal--no trades  (started several weeks ago)

Phibro--appear to be no trades, but hard to confirm

BP--no trades.

Diamond Shamrock has a very small spread position on with us, and asked us to find someone to stand between.

Sempra is looking at their exposure to us in physical products, and asking questions about our docs.

Innogy--In Europe, no longer trading weather with us.

ICE--The Majors have cut us off.

More info to follow as discovered.

Jeff


DAN:

Please find attached the force majeure provisions from the draft Sales and
Purchase Agreement between Enron Marketing and El Paso.  This represents
considerable effort to date to find a mutually acceptable alternative to the
Term Sheet language I forwarded to you as well.

Rightly or wrongly, this language does not address the issue of "operating
condition" as a similar concept to force majeure, specifically in terms of a
performance standard.  This may still come up with El Paso, but I am
certainly prepared to talk to the Southern Company about it and get their
views.

I started to redraft the force majeure provisions in terms of Enron as Seller
and Southern Company as Buyer, but it quickly exceed my capabilities, so I
went back to the language in the Enron/El Paso arrangement and included what
I felt was the appropriate comment in the overview, to the effect that the
Southern Company should look at the combined provisions as representing what
Enron would, in its own right, request as a starting point for evaluation.

Once you have had a chance to look at it and my notes and definitions, I
would like to send it on to the Southern Company for their review (sometime
tomorrow, if possible).

Sorry to have taken so long getting this to you.

Regards.
Les

PS - please feel free to make any changes you deem appropriate.  I see little
incentive to write up the new force majeure language until we get a signal
from the Southern Company.  I know they are looking for simplicity and I
think we need to be directionally responsive.  If we agree corporately, then
significant revision will be required in any event.


will you be holding his leash and cleaning up his mess?

 -----Original Message-----
From: 	"Elliott, Allan" <Allan.Elliott@enform.com>@ENRON
Sent:	Tuesday, November 13, 2001 5:08 PM
To:	Dunn, John; Wolfe, Jason; Cherry, Michael; Sample, Matt; Cherry, Beth; Gradney, Kevin
Cc:	'JWilkerson@reliant.com '
Subject:	RE: Do we play today?

Please include Devil Dawg (aka Dee-Dee) in your invite I believe he might be game this evening.
Allan Elliott
-----Original Message-----
From: Dunn, John
Sent: Tuesday, November 13, 2001 4:50 PM
To: 'Jason.Wolfe@enron.com '; Dunn, John; Dunn, John; Elliott, Allan; Cherry, Michael; Sample, Matt; Cherry, Beth
Cc: 'JWilkerson@reliant.com '
Subject: RE: Do we play today?
Hey, it isn't *that* quick!  I can take my time if I want to.
-----Original Message-----
From: Jason.Wolfe@enron.com
To: John.Dunn@enform.com; John.Dunn@enform.com; Allan.Elliott@enform.com; Michael.Cherry@enform.com; Matt.Sample@enform.com; Beth.Cherry@enform.com
Cc: JWilkerson@reliant.com
Sent: 11/13/2001 4:51 PM
Subject: RE: Do we play today?
I hear you are good at facilitating a quick "meating"
    -----Original Message-----
   From:   "Dunn, John" <John.Dunn@enform.com>@ENRON
   Sent:   Tuesday, November 13, 2001 4:45 PM
   To:     Wolfe, Jason; Dunn, John; Elliott, Allan; Cherry, Michael;
             Sample, Matt; Cherry, Beth
   Cc:     'JWilkerson@reliant.com '
   Subject:  RE: Do we play today?
   I'm playing.  I will be in the office at 5:30 for a quick meeting,
but I
   will join you after that.
   -----Original Message-----
   From: Jason.Wolfe@enron.com
   To: John.Dunn@enform.com; Allan.Elliott@enform.com;
   Michael.Cherry@enform.com; Matt.Sample@enform.com;
   Beth.Cherry@enform.com
   Cc: JWilkerson@reliant.com
   Sent: 11/13/2001 4:47 PM
   Subject: RE: Do we play today?
   Who is playing, and when should we start? Get back at me so I will
know
   when to show up.
   Thanks,
   DJ
       -----Original Message-----
      From:   "Dunn, John" <John.Dunn@enform.com>@ENRON
      Sent:   Tuesday, November 13, 2001 11:43 AM
      To:     Elliott, Allan; Cherry, Michael; Sample, Matt; Cherry,
Beth;
                Wolfe, Jason
      Cc:     ''''''''Jondaworky (JWilkerson@reliant.com) ' ' ' ' ' ' '
'
      Subject:  RE: Do we play today?
      I'm going to shave my team name in the back of my mullet.
      -----Original Message-----
      From: Elliott, Allan
      To: Cherry, Michael; Sample, Matt; Cherry, Beth; Dunn, John;
      '''''''''''''Jason.Wolfe@ENRON.com' ' ' ' ' ' ' ' ' ' ' ' '
      Cc: '''''''Jondaworky (JWilkerson@reliant.com) ' ' ' ' ' ' '
      Sent: 11/13/2001 11:35 AM
      Subject: RE: Do we play today?
      Ack!! Trying to catch up here after several days of vacation.
Quite
   a
      meandering collection of emails.  You should get your tee shirts
and
   why
      not go the whole 9 yards and get custom license plates... take
pride
   in
      your losing streak!!  Unfortunately I don't think I can make the
game
      tonight, but Thursday or Friday for an xbox demo would be cool.
      IT Traveler

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

**********************************************************************


-----Original Message-----
From: David J. Theroux [mailto:DJTheroux@independent.org]
Sent: Monday, December 24, 2001 5:48 PM
To: Lighthouse
Subject: THE LIGHTHOUSE: December 24, 2001

THE LIGHTHOUSE
"Enlightening Ideas for Public Policy..."
Vol. 3, Issue 51
December 24, 2001

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

IN THIS WEEK'S ISSUE:
1. Defunct "Stimulus" Package Is Uncle Sam's Unintended Gift
2. Ode to John Ashcroft and Civil Liberties
3. A Christmas Reflection
4. More Year-end Giving Tips -- plus a Bonus!

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

Welcome to The Lighthouse, the e-mail newsletter of The Independent
Institute, the non-politicized, public policy research organization
<http://www.independent.org>. If you know someone who would enjoy THE
LIGHTHOUSE, please forward this issue. If they like it, they can add
themselves to the list at
http://www.independent.org/tii/lighthouse/Lighthouse.html.

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

DEFUNCT "STIMULUS" PACKAGE IS UNCLE SAM'S UNINTENDED GIFT

Uncle Sam sent taxpayers an unexpected gift last week: an economic
"stimulus" package that never made it off Capitol Hill.

Many economists, critical of the proposed government spending
increases, have pointed out that the economy had already started to
show signs of recovery anyway. Other critics correctly point out that
the "stimulus" had enough pork to keep special-interest groups
hibernating high on the hog till next winter.

There is, however, another reason to have frowned at Washington's
"stimulus" proposals and to rejoice at their demise. Government
"stimulus" packages are not, as environmentalists might say,
"sustainable." They merely crowd out or postpone increases in private
investment -- the fuel of economic recovery. And when a government
"stimulus" is financed by inflation, it tends to undermine the source
of that fuel: capital formation.

This holiday season we can thank Congress for its inability to agree
to "help" the economy. But, unfortunately, we're still haunted with
visions of Christmas past, when bad legislation has gone back to
conference committees only to be return as even worse legislation.

Too bad Washington, DC, doesn't have a "no returns" policy.

For more on the economic benefits of political gridlock, see "Divided
We Stand, United We Fall," by Richard Vedder, senior research fellow
at The Independent Institute, at
http://www.independent.org/tii/news/9712Vedder.html.

Also see, "Is Macroeconomics Believable?" by Ben W. Bolch (THE
INDEPENDENT REVIEW, Spring 1998), at
http://www.independent.org/tii/content/pubs/review/TIR24_bolch.html.

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

ODE TO JOHN ASHCROFT AND CIVIL LIBERTIES

So long as Americans have freedom of speech, there is hope that the
flame of liberty will remain lit. In that spirit, we offer the
following ditty posted on the website of The Nonviolence Web.

    "Ode to John Ashcroft and Civil Liberties"
    (Sung to the tune of "Santa Claus is Coming to Town")

    You better watch out,
    You better not pout,
    You better not cry.
    I'm telling you why.
    John ashcroft's coming to town.

    He sees you with your lawyer.
    He listens to every phone;
    He reads everyone's email,
    and he locks you all alone.

    With little tin guns
    And tiny cellphones
    Rooty hoot, hoot, he's breaking in homes,
    Big Brother is coming to town.

    He knows when you are traveling.
    He knows who you're around;
    Tried in military courtrooms,
    Not a lawyer can be found.

    He's makin' a list,
    and checking for race,
    Gonna arrest those who are dark of face.
    Big Brother's coming to town.

    You better watch out,
    You better not pout,
    You better not cry.
    I'm telling you why.
    Big Brother's coming to town.

See http://www.independent.org/tii/lighthouse/LHLink3-51-1.html.

Also see:

"Looking Who's Looking," by Ron Gurantz, (10/22/01), at
http://www.independent.org/tii/news/011022Gurantz.html.

"Watching You: Federal Surveillance of Ordinary Americans," by
Charlotte Twight (THE INDEPENDENT REVIEW, Fall 1999)
http://independent.org/tii/content/pubs/review/TIR42Twight.html.

"Conning Congress: Privacy and the 1994 Commuications Assistance for
Law Enforcement Act," by Charlotte Twight (THE INDEPENDENT REVIEW,
Fall 2001)
http://www.independent.org/tii/content/pubs/review/tir62_twight.html.

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

A CHRISTMAS REFLECTION

Christmas, a holiday rooted in both Christianity and pre-Christian
celebrations of the winter solstice, is also an appropriate time to
reflect upon the secular values that have helped Western civilization
over the course of two tumultuous millennia. Among these values:
freedom of conscience, peace on Earth, and goodwill toward men.

These values transcend any particular religion; they are in fact
articulated in varying degrees by most of the world's religions. Yet
they have found their fullest expression in the West. Why?

Because in Western culture more than in any other, the individual counts.

"This empowerment of the individual is unique to Western
civilization," writes Paul Craig Roberts.

And it is this individualist precept -- respect for the dignity and
worth of each human life -- that holds the key to understanding the
unique institutions of the West.

The West's individualism, writes Roberts, "permits an individual
person to put his or her foot down, to take a stand on principle, to
become a reformer and take on injustice.... It has made the
individual a citizen equal in rights to all other citizens, protected
from tyrannical government by the rule of law and free speech."

Just as freedom in the West has unleashed in the marketplace the
progressive forces of what one economist termed "creative
destruction," so freedom in the West has unleashed a similar
phenomenon in the marketplace of ideas. This perhaps is the West's
supreme paradox (and achievement) -- its tradition of questioning
even tradition itself.

Concludes Roberts: "Be we religious or be we not, our celebration of
Christ's birthday celebrates a religion that made us masters of our
souls and of our political life on Earth. Such a religion as this is
worth holding onto even by atheists."

See "The Greatest Gift," by Paul Craig Roberts (12/19/01), at
http://www.independent.org/tii/lighthouse/LHLink3-51-2.html

Also see, "The Drama of Western Identity," by David Gress (THE
INDEPENDENT REVIEW, Winter 2000) at
http://independent.org/tii/content/pubs/review/TIR43Gress.html, and
"Freedom of Religion and Public Schooling," by James Otterson (THE
INDEPENDENT REVIEW, Spring 2000) at
http://www.independent.org/tii/content/pubs/review/TIR44Otteson.html.

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

MORE YEAR-END GIVING TIPS -- PLUS A BONUS!

Last week's LIGHTHOUSE item regarding making a year-end contribution
inadvertently omitted the qualifier *federal* taxes in discussing the
tax ramifications of gifting stock.  As state and local tax codes can
have varying provisions, be sure to check these -- and, as always,
with your own tax adviser -- prior to making a charitable gift
decision involving stock.

Remember, there are still seven days in which to take advantage of
possible savings off of your 2001 taxes by giving to The Independent
Institute.  Your support will help us continue producing our popular,
weekly, e-mail newsletter, THE LIGHTHOUSE, as well as pursuing
innovative and path-breaking solutions to today's pressing
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support with an additional year-end bonus contribution will help fuel
even greater efforts.

You may mail a check dated prior to the end of the year, or call,
email, or fax us your credit card number and amount of donation you
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If you prefer to give using securities, it's easy to do so via an
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Again, contributions to The Independent Institute are tax-deductible
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THE LIGHTHOUSE
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(510) 568-6040 fax


Rain,

I'd like to coordinate this with the other fellas (Hunter, Scott, etc.)
Let's see if we can all go to the same one!

Fletch

---------------------- Forwarded by Fletcher J Sturm/HOU/ECT on 07/10/2000
08:45 PM ---------------------------

	Enron North America Corp.

	From:  Ken Lay, Jeff Skilling & Joe Sutton @ ENRON
07/10/2000 05:47 PM

Sent by: Office of the Chairman@ENRON
To: All Vice Presidents and Above
cc:
Subject: United Way Executive Breakfasts

Please join us for one of the Executive Breakfasts at DePelchin Children,s
Center, our adopted agency for this year and one of the more than 80
community organizations supported by the United Way of the Texas Gulf Coast.
The Executive Breakfasts will focus on our 2000 campaign.  To reach our goal
of  $2,310,000, it will take the active leadership and support of each of
you. We look forward to seeing all of you at one of the breakfasts.

Event:  Executive Breakfast
Date:  Thursday, August 3, 2000 (hosted by Joe Sutton)
   or
  Friday, August 4, 2000 (hosted by Jeff Skilling)
Time:  7:45-9:00 a.m.
Location: DePelchin Children,s Center
  100 Sandman (close to Memorial and Shepherd intersection)

Transportation: Bus will depart from the Enron Building (Andrews Street side)
promptly at 7:30 a.m.

NOTE: Bus transportation is encouraged, due to limited onsite parking.
However, if you should need to drive, a map will be provided.

Please R.S.V.P. no later than Wednesday, July 26 to confirm your attendance
and bus transportation to Jessica Nunez
at 853-1918.


Jeff Skilling
Mike McConnell
Greg Piper
John Arnold

Thank you for agreeing to interview with Vijay Vaitheeswaran of the Economist on Tuesday.  Mike is scheduled for 12:30, Jeff for 2 p.m., Greg for 3 p.m. and John for 4 p.m.

Vijay is working on a story about old economy companies embracing the Internet.  He'll be testing the idea put forward by Erik Brynjolfsson of MIT that companies profiting most from the Internet are ones with a culture of openness.  As background, he has secured an advance copy of a new Harvard Business School case on EnronOnline, which basically outlines the advent of EOL.  It's a story that you all know well, and so you should not be disadvantaged if you don't have a copy of the study. (I can give you one if you want it.)

Specifically, he'll be probing:
How did the company begin to think about using the Internet?  Have our views altered?
What role models did we use?
What changes have worked best and why?
How far has success been dependent on changing corporate culture? Has it gone far enough?
What has been the impact on staffing?  Do we have the right people to do what needs to be done?
Has the Internet made -- or will it make -- substantial cost savings?  What is the scale of investment needed?
Will the Internet change the way we work with suppliers/distributors (where applicable).

Other companies on the list to be interviewed include GE, 7-Eleven, Siemens, Merrill Lynch, Cemex and Valeo.

Let me know if you have any questions.  Otherwise, I'll see you in the afternoon.

Vance Meyer


yea...probably get a little relief from the inspection report though


Dan,  Attached is a clean and redlined version of my changes.  As we
discussed, the letter is now non-binding.


Hi Sara.

With all due respect Sara, I have a constructive suggestion for both of us.
In Anna's view, and I agree, it is causing some unnecessary confusion that
you call her to negotiate provisions of the contract that I am negotiating
with her without my knowledge.  It makes both you and I look disorganized and
in doing so, I beleive it undermines our position in negotiating the terms.
As a practical matter, it is extrmemly difficult to negotiate a contract and
administratively organize the execution if I am not sure whether there is
someone else taking steps (especially with outside counsel that I am not
aware of.)   If you have asked me to negotiate an agreement -- as in the case
of Enron Credit Inc. -- and you have an update on the status -- having sat in
on the conference call on Friday, then why not let me do so?  At the very
least, could you call me first for an update or try to include me in the
call.

Equally important, while I am sure that it is not your intent, you are
undermining my morale.  I have constantly kept you updated  -- sometimes on
an hourly basis -- on the status of what is going on with all of the
administrative and legal tasks.   To call outside counsel under those
circumstances  comes across as a vote of no confidence in my work and efforts
which is baffling to me because I think I have worked hard and have
accomplished a tremendous amount with respect to the brokerage agreement
project.   I have negotiated these agreements with a great deal of
thoughtfulness and skill. I have gone above and beyond even to determine
applicable law that no one else was aware of.

Moreover on Friday (again without intending to do so) you undermined my
morale by telling me that there were administrative tasks that needed to be
done.  You said that you hope I know that the agreement does not just become
executed once we sign it.  Sara, it should be obvious to you that I know --
perhaps better than anyone else -- what administrative tasks need to be
accomplished to open this kind of brokerage account.  I have even figured out
that there are administrative tasks beyond what any one else is aware, for
example, in the case of the ancillary NASDAQ agreements, that no one else was
aware had to be completed.  I have proven already that I can execute all of
the administrative tasks in an expedited manner.

I want these comments to be taken in the spirit in which they are given --
which is that we both mean well and are working toward a common goal and that
everyone can learn from anyone.  I look forward to talking to you further so
that we do not let the frantic nature of our work make any one feel that
their efforts are not valued.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693


How many deals have you done????

"Junek, Daniel" <DJunek@aeglobalmarkets.com> on 05/14/2001 01:08:49 PM
To: "'chris.germany@enron.com'" <chris.germany@enron.com>
cc:
Subject:

Chris
 This in my new email address


This information is generated mostly using ISO information.  CERA numbers
will not be available until later in the weekend.


Note:  I'm sure you have this on your radar screen, but just in case you
don't...

PG&E Corp. announced that its National Energy Group will develop its first
Nevada project, a 1,000 MW natural gas-fired generating plant to be located
45 miles northeast of Las Vegas. The merchant plant's main purpose is to
supply Nevada, but when it is not needed there, it will add much-needed
supply to the western energy market. The group hopes to begin construction
during the fourth quarter of 2001, with completion expected in early 2004.
"Southern Nevada has one of the most rapidly growing economies in the
country," said Thomas B. King, president of PG&E NEG, West Region. "Because
of its location near Las Vegas, the Meadow Valley project will be ideally
positioned to efficiently serve that demand growth." Including the Nevada
project, PG&E National Energy Group has a total of 4,000 MW in development or
construction in California, Oregon, Nevada and Arizona.


A heads up for you gas folks that Enron will be on ComEd's side against Dynegy on this power issue at
FERC, since EES designates Firm LD contracts as sources on ComEd's network transmission system (Dynegy wants ComEd to only allow "capacity" contracts to be used).  We plan to file the Enron response on Friday.

 -----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Wednesday, October 24, 2001 8:58 AM
To:	Lindberg, Susan; Herndon, Rogers; Misra, Narsimha; Sharfman, Guy; Sager, Elizabeth; Murphy, Harlan; Steffes, James D.; Migden, Janine; Forster, David; Baughman Jr., Don; Stroup, Kerry; Roan, Michael; Kingerski, Harry; Shapiro, Richard; Novosel, Sarah; Fulton, Donna; Presto, Kevin M.; Sturm, Fletcher J.
Subject:	Dynegy v. ComEd update

Susan and I will circulate a draft response against Dynegy's position later today.  ComEd plans to file a lengthy answer disputing Dynegy stating that there are no transmission problems due to the use of the firm LD resources and that FERC precedent does not support a capacity payment requirement.

Enron will respond similarly and include an argument that Dynegy is actually trying to create an "icap/capacity" requirement where there is none (Dynegy's pleading states "ComEd's failure to enforce the network designation provisions of its OATT also deprives Dynegy of capacity payments to which it is entitled.)  We will also include statements that the continuation of the network v. PTP transmission tariffs perpetuates these types of issues and the market/tariff design that we advocate should be approved to stop these problems.

 -----Original Message-----
From: 	Lindberg, Susan
Sent:	Saturday, October 20, 2001 5:20 PM
To:	Nicolay, Christi L.; Herndon, Rogers; Misra, Narsimha; Sharfman, Guy; Sager, Elizabeth; Murphy, Harlan; Steffes, James D.; Migden, Janine; Forster, David; Baughman Jr., Don; Stroup, Kerry; Roan, Michael; Kingerski, Harry
Subject:	Dynegy vs. ComEd (EL02-6) -- further info

As I mentioned in my previous e-mail, on October 17 Dynegy filed a complaint against ComEd.  This proceeding may be of particular interest to Enron given EES's plans to offer physical delivery in Illinois in early 2002.  I've outlined Dynegy's principal arguments below.  Dynegy requested fast-track processing, so any intervention and comments we file are due Friday, Oct. 26.  In order to file a timely intervention (and meaningful comments, if we decide to comment), I need to know your thoughts on this as soon as possible.  Elizabeth and Harlan, I'm copying you because I would especially like to know what you think of Dynegy's characterization of the Firm LD product.

Main argument:
Dynegy challenges ComEd's published Business Practice that allows "marketer firm" (Firm LD) contracts to be designated as Network Resources.  Dynegy argues that this practice conflicts with the OATT provisions that 1) Network Resources are generation "owned, purchased or leased by the Network Customer designated to serve Network Load," and 2) a Network Customer "must demonstrate that it owns or has committed to purchase generation pursuant to an executed contract" in order to designate a Network Resource.

Dynegy's theory on why Firm LD should not be a Network Resource:

	- permits designation of network resources that are committed for sale to others, creating reliability problems
	- Firm LD under the EEI contract is not capacity-backed, nor is it a commitment to purchase generation
	- allows transmission customers to get the advantage of generation capacity without actually paying the cost of that capacity
	- since retail providers are allowed to rely on "over-the-counter" firm instead of securing long-term contracts, adequate reserves are not being carried to serve retail load

Dynegy claims that ComEd's practice has deprived DMG of payments for capacity and the ability to earn revenues for capacity properly designated as network resources.  It cites specific instances in which ComEd has accepted transmission reservation requests from New Energy and Cilco in which these parties designated Illinois Power as a network resource, when only a Firm LD contracts were in place with IP.

Susan Lindberg
713.853.0596


Ruth,
We made it back safely (about 1:00).  Thank you again for the evening...we had a great time!  It was great to finally meet you.  I guess the next time I'll see you is for Superbowl.

Talk to you soon,
Theresa


Susan and if she needs legal assistance, perhaps Cheryl.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

	Mary Cook
	05/02/2001 11:52 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Alcoa

Who do you think?

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com
----- Forwarded by Mary Cook/HOU/ECT on 05/02/2001 11:52 AM -----

	Carol St Clair
	05/02/2001 10:15 AM

		 To: Mary Cook/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 cc: Mark Taylor/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT
		 Subject: Alcoa

Mary and Sara:
Alcoa keeps sending us lists of their authorized traders.  I sent them our
form letter several months ago.  Could you please reassign this to someone?
Susan Bailey has the file.  Thanks.

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


This document will serve as a receipt for $89.00 paid in the month of January
for Parking.  The receipt is issued by Enron Property and Services, Parking
and Transportation Desk to TAYLOR,MARK E, Social Security Number
********* .  The company subsidy paid for the month of January is $50.00.


what is going on?  i call your husband about two weeks ago and he never
called me back.  i am leaving for cayman today so i will scope out the scene
this weekend.  tell max to give me a call.


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude19.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas19.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil19.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded19.pdf

Dec WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clz-qoz.pdf
Dec Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Dec Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Nov Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hux-hox.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Nov/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/hux-huh.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG19.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG19.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL19.pdf

Scott Oblander
312-762-1015
312-762-1014 fax
Carr Futures
150 S. Wacker
Suite 1500
Chicago, IL 60606


Dial in - 011 44 207 783 0508


As a reminder...there are several pieces of equipment that are set up on the 30th Floor, as well as on our floor, for the Disaster Recovery Team.  PLEASE DO NOT TAKE, BORROW OR USE this equipment.  Should you need to use another computer system, other than yours, or make conference calls please work with your Assistant to help find or set up equipment for you to use.

Thanks for your understanding in this matter.

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


Eric,

Thank you very much for taking the time to speak with Tom Moore and me.
Attached is the (only) contract which I have received from the EBS
origination team trying to close a deal with BMC Software.  Steve Morse and
Chaz Vaughan report to Brad Nebergall (VP, Central Origination, EBS), who
reports to Jim Crowder (VP, Enterprise Services, EBS).

Please review, and provide your feedback to me, the EBS origination team
(Chaz, Steve, and Brad Nebergall), and Tom Moore.

If there are any other EBS deals/contracts on the table involving BMC, I
would like to do whatever I could to help them close on this.  Please let me
know if I can do anything else for you!  You can reach me at (x55968) or Tom
at (x55552).  The origination team is at (Chaz: x58815, Steve: x37137, Brad:
x34714).  On a final note, the originators have repeatedly driven home the
point that they must have this deal closed with BMC by end-of-day this
Friday, December 15.  I am focused on helping them win the business however I
can.

Thank you,

Jeff

Jeff Youngflesh
Director, Business Development
Global Strategic Sourcing
Enron Corp.
333 Clay Street, 11th Floor
Houston, TX 77002
t:  713-345-5968
f:  713-646-2450
c:  713-410-6716

----- Forwarded by Jeff Youngflesh/NA/Enron on 12/12/2000 01:46 PM -----

	Stephen Morse@ENRON COMMUNICATIONS
	12/11/2000 03:20 PM

		 To: Chaz Vaughan/Enron Communications@Enron Communications
		 cc: Jeff Youngflesh/NA/Enron@ENRON
		 Subject: EBS Professional Services Agreement

Chaz,

I assume Jeff is running with this.  The contract needs to be in place by
Thurs. 6pm CST in coordination with the EBS agreement.

Thanks,

Steve

Steve Morse
Enron Broadband Services
713-853-7137-work
713-569-7912-cell
email:  stephen_morse@enron.net
----- Forwarded by Stephen Morse/Enron Communications on 12/11/00 03:24 PM
-----

	Jeremy_Aber@bmc.com
	12/08/00 03:35 PM

		 To: Stephen Morse/Enron Communications@Enron Communications, Chaz
Vaughan/Enron Communications@Enron Communications
		 cc: Ann_Munson@bmc.com, Joe_Young@bmc.com, Tari_Hoekel@bmc.com
		 Subject: EBS Professional Services Agreement

At the request of Ann Munson, attached is a revised draft of the Enron
Broadband Services Professional Services agreement.

This draft should replace any previous drafts sent.

 <<Enron Broadband Services Agreement 120800.doc>>

Jeremy Aber
Senior Legal Counsel
BMC Software, Inc.
Tel:  713/918-3743
Fax: 713/918-7306
jeremy_aber@bmc.com

The information contained in and transmitted with this e-mail is (a) Subject
to attorney/client privilege; (b) Attorney work product; and (c)
Confidential.

 - Enron Broadband Services Agreement 120800.doc


Forbes.com * http://www.forbes.com * Nov. 20, 2001
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The terrorist attacks have forced many to think about security
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BROOKS CLAIMS TAUBMAN INITIATED PRICE-FIXING
Diana Brooks testifies Alfred Taubman was in on auction house
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---------------------- Forwarded by John Arnold/HOU/ECT on 03/08/2001 09:46
AM ---------------------------
From: Ann M Schmidt@ENRON on 03/08/2001 08:11 AM
To: Ann M Schmidt/Corp/Enron@ENRON
cc:  (bcc: John Arnold/HOU/ECT)
Subject: Enron Mentions

Family Holding
Forbes, 03/19/01

The New Forecast For Meteorologists: It's Raining Job Offers --- Energy
Trading Firms Snap Up Grads of an Inexact Science; No Blow-Dryer? No Problem
The Wall Street Journal, 03/08/01

ENRON PROVIDES TRADING SERVICES TO MANX ELECTRICITY UNDER NETA
CRL, 03/08/01

Energy Trading Companies Pay Big for Weather Talent, WSJ Says
Bloomberg, 03/08/01

ENRON FAILS TO ATTRACT BIDS FOR 30 PCT STAKE IN INDIAN OIL FIELD
Asia Pulse, 03/07/01

SINGAPORE: PetroChina plans five gas, products lines by 2005.
Reuters English News Service, 03/07/01

Companies People Ideas
Family Holding
BY Phyllis Berman

03/19/2001
Forbes
102
Copyright 2001 Forbes Inc.

Lemuel Green, a flour mill owner, took the excess power from the water-turned
generator at his mill in 1908 and sold it between dusk and midnight to
anybody in Alton, Kan. who knew what to do with it. Soon he quit the milling
business and started stringing transmission lines across the western part of
the state. Before his death in 1930 he had built a utility that lit 56 Kansas
communities.
Kansas City's UtiliCorp United is perhaps the only fourth-generation
family-controlled electric utility in the country. Today the outfit, once
called Missouri Public Service, is headed by Lemuel Green's two
great-grandsons.
Richard Green, 46, took over as chief executive in 1985, three years after
his father's death. At the time Missouri Public Service served 200,000
customers in two states and had $245 million in revenues. Richard's brother
Robert, now 39, joined him three years later.
Standing pat was not an option. Deregulation was in the air, and the rules
were changing. The brothers remade the company. They spent $4 billion buying
utilities in other parts of the U.S., Canada, Australia and New Zealand.
UtiliCorp now serves 4 million customers in seven states and four countries.
More important, they veered off into other parts of the energy business. In
1986 they acquired gas properties from Peoples Natural Gas of Omaha and got a
two-person gas-trading operation as part of the deal. That little trading
operation, now a subsidiary called Aquila, turned into something almost as
valuable as all the rest of the company, with its 4,500 megawatts of power
generated in some 22 power plants around the country.
"My brother and I received strong advice that we would never be able to be
competitive in this business," says Bob Green. Oh, yeah? Aquila has 1,100
employees and competes with the likes of Duke, Dynegy and Enron. According to
Natural Gas Week, Aquila was the fourth-largest power-and-gas marketer in the
country last year. Aquila trades a host of other products as well-everything
from weather-condition hedges to bandwidth.
Problem: Trading operations require capital just as power plants do. The
solution, until now, has been what brother Bob calls "our 'asset lite'
strategy. We want to control the capacity, not own it." So Aquila may provide
the gas to power a so-called merchant plant, one that produces electricity to
sell in the market, in return for a claim on its production. But so far
Aquila has not been a big player in the most profitable parts of the
business-taking on big risk in larger transactions, the way Enron and Dynegy
do.
What to do? In mid-December UtiliCorp announced that it would offer 19.9% of
Aquila to the public, raising capital while creating a market value for its
trading operation, just as competitors Constellation Energy and Southern
Company are doing. The hope is that the new entity will garner a multiple of
20 to 45 times earnings. Then, if all were to go as planned, UtiliCorp would
spin off the rest of the operation in a tax-free distribution.
The timing looks good. Aquila has no material exposure in the California
market. Furthermore, the volatility in that market has been a bonanza for
many firms that trade power, including Aquila. Its trading subsidiary is the
reason UtiliCorp's earnings were up 28% last year, to $206 million, on $29
billion in sales. UtiliCorp's shares doubled in the past year to $30.
But will the California crisis nonetheless poison the market for an Aquila
stock offering? It might. And UtiliCorp cannot afford to hold its breath in
the capital markets forever. Even with its "asset-lite" strategy, the company
is far more leveraged than most utilities, with debt at 56% of capital,
versus the 50% norm for electric utilities. The offering is supposed to raise
$425 million or so that could be used to pay down a bit of the parent's $2.9
billion in debt.
If Bob Green is walking a financial tightrope, you could never tell it by
talking to him. "We see this company as our heritage," he says confidently.
This despite the fact that after seven equity offerings the family's share of
UtiliCorp is now 4%, down from 15% when Richard took over.
Might the Greens lose their heirloom in a takeover battle? They might, but
they might come out ahead anyway. Look at the family history. Lemuel sold
some of his utility assets for $6.6 million in 1927 and diversified into
California orange groves. The assets were resold to Samuel Insull, the
midwestern electricity magnate who came to a bad end when his pyramid of
holding companies collapsed during the Depression. Years later, after
Congress reacted with a law that busted up multistate electric utilities, Bob
and Rick's grandfather bought back Lemuel Green's utility properties for a
song.

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

The New Forecast For Meteorologists: It's Raining Job Offers --- Energy
Trading Firms Snap Up Grads of an Inexact Science; No Blow-Dryer? No Problem
By Chip Cummins
Staff Reporter of The Wall Street Journal

03/08/2001
The Wall Street Journal
A1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Two years ago, Bradley Hoggatt was heading for an academic career in
meteorology, intent on discovering more about how hurricanes form. But just
before he started working on a doctorate, a very different opportunity blew
in.
Now Mr. Hoggatt forecasts weather for a floor full of M.B.A.s who trade
billions of dollars in weather-sensitive energy commodities such as natural
gas and electricity for Aquila Inc., the trading subsidiary of a big Midwest
utility.
With no business background himself, Mr. Hoggatt is also trading complex
financial contracts based on his predictions. "I'm putting my money where my
mouth is," says the tall, square-shouldered 28-year-old.
Weathermen and women have become a hot commodity in the exploding
energy-trading business. While off-target forecasts on television may
frustrate parents and schools and embarrass politicians, as they did this
week on the East Coast, they can lose bundles for electricity and natural-gas
traders. So as trading has boomed, so has demand for trained meteorologists,
a profession that traditionally hasn't paid all that well and is often the
butt of jokes.
From Wall Street to Houston's Louisiana Street, where many energy companies
have set up shop, recent graduates are earning twice what they would earn at
the National Weather Service or in academia. "The appetite for weather is
insatiable," says James L. Gooding, director of meteorology at Duke Energy
Corp. A former NASA scientist, Dr. Gooding will be adding a fourth forecaster
to his Houston team in the next year.
Enron Corp., an energy-trading giant based in Houston, has more than doubled
its staff of weather forecasters to nine in the past three years, plucking
talent from places like the Weather Channel. Williams Cos., a Tulsa, Okla.,
competitor, is endowing university fellowships to lure meteorology students.
And since 1999, Aquila, which is owned by UtiliCorp United Inc., of Kansas
City, Mo., has hired two other meteorologists from Mr. Hoggatt's alma mater,
the University of Wisconsin, plus another scientist with a Ph.D. in
climatology.
That hiring paid off a bit during this week's winter storm in the Northeast.
While many on the East Coast were getting miscues from TV weathermen on a
pending, possibly historic blizzard that fizzled in New York and other
cities, traders at Aquila simply looked to Mr. Hoggatt.
Last Friday, Scott Macrorie, an electricity trader for the Mid-Atlantic
region at Aquila, stopped by to see how the storm was progressing. Mr.
Hoggatt's team told him temperatures in his region of interest would be lower
because of the storm, though the snowfall forecast on TV seemed a little
high. Sure enough, temperatures fell and snowfall in many cities was less
than predicted, lifting electricity prices and making Mr. Macrorie a profit
that he says was in the tens of thousands of dollars.
About 500 university students in the U.S. graduate each year with bachelor's
degrees in meteorology, according to the American Meteorological Society. An
additional 300 or so graduate with masters degrees or doctorates. Until just
a few years ago, those graduates didn't typically have many options: TV for
those who had the blow-dried look, back-office jobs with the government or a
handful of private consultants for those who didn't. Research was an option.
And some airlines and utilities kept a few meteorologists on staff to help
position airplanes or power-line repair trucks during storms.
Now, deep-pocketed trading companies are offering many meteorologists with
graduate degrees salaries ranging from $60,000 to $90,000. Performance and
trading bonuses can double or even triple the figure. That compares with the
roughly $33,000 the National Weather Service pays a junior forecaster with a
graduate degree.
"It's a bit unusual for meteorologists to have the prospect of lucrative
employment after graduation," says John Nielsen-Gammon, a professor of
atmospheric sciences at Texas A&M University. "This is a bit of a switch."
So far, there has been no dearth of meteorological talent available, partly
because the National Weather Service wrapped up a big expansion project in
the mid-1990s and slowed hiring. It hires only to replace people who leave,
about 30 to 50 meteorologists a year.
And the high-pressure world of billion-dollar commodity bets isn't for
everyone. When Carl Altoe graduated from Penn State, one of the nation's top
meteorology programs, he got a heavy sales pitch from Enron. "It's quite an
impressive place," he says of Enron's trading floor, but he wasn't sure
forecasting skills alone would be enough to make the grade. "I would be
afraid that if money wasn't made in a hurry, I'd be tossed," says Mr. Altoe,
who accepted a position with the National Weather Service in Marquette, Mich.
For others, having forecasts count puts a new thrill in the old art. After
two years as a manager at the Weather Channel's Latin American division in
Atlanta, Jose Marquez posted his resume on an Internet job site run by the
American Meteorological Society. Enron called.
"Have you heard about Enron?" Mr. Marquez remembers being asked. "And I said,
honestly, `No.'"
During a visit, Mr. Marquez, a 33-year-old Navy-trained meteorologist, found
Enron's trading floor exhilarating. Enron courted Mr. Marquez heavily,
tracking him down three times during his Christmas vacation in Puerto Rico.
Mr. Marquez decided the sprawling trading floor was just the sort of active
work place he was looking for. Also, he'd be getting a 10% to 15% boost over
his Weather Channel salary, before potential bonuses from Enron.
"I'm getting more money than I would anywhere else," he says.
Weather has long affected prices of everything from grain at Chicago's early
commodity markets to the stocks of retail companies on Wall Street. Jon
Davis, a meteorologist for Salomon Smith Barney in Chicago, started
forecasting the weather for agriculture traders back in 1985.
But volatile energy prices have raised the stakes for forecasters who are
able to gauge air-conditioning use in the summer or natural-gas demand during
the winter heating season. Meanwhile, all sorts of companies are turning to
energy traders and Wall Street for "weather derivatives," complex contracts
used to hedge financial risks associated with the weather. "With every
passing year, you do more energy and more energy," Mr. Davis says.
Despite big advances in data collection and modeling, betting millions of
dollars on weather forecasts can still be tricky business. Short-term
forecasts are pretty good. Predicting weather two weeks from now is chancy.
Most meteorologists get their data from the government, particularly the
National Weather Service. Many then tweak it with their own interpretations
or forecasting models.
Disappointed last year by poor long-term forecasts from 11 private
consultants, Aquila has a contest offering $100,000 to the meteorologist or
team that can best predict temperatures in 13 major U.S. cities over the
course of a year. "I call it the forecast bakeoff," says Mr. Hoggatt.
The high stakes also mean more pressure on forecasters. WSI Corp., a
Billerica, Mass., weather-forecasting firm, started an energy service last
year, and Jeffrey A. Shorter, a WSI vice president, says energy clients can
be less forgiving than his other clients in TV and aviation, especially when
the forecasts are wrong. But, he adds, "presumably, more often than not,
we're right."

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

ENRON PROVIDES TRADING SERVICES TO MANX ELECTRICITY UNDER NETA
2001-03-08 08:43 (New York)

     (The following is a reformatted version of a press release issued
by Enron and received via electronic mail. The release was not confirmed
by the sender.)

ENRON AND MANX ELECTRICITY ANNOUNCE POWER TRADING AGREEMENT

     London, March 8 -- Enron announced today that it has concluded a
long-term power trading agreement with the Manx Electricity Authority
(MEA), representing one of the first deals with an embedded generator
specifically designed for the New Electricity Trading Arrangements
(NETA). Under the agreement Enron will provide 24-hour trading services
to MEA under NETA in an innovative deal structured to maximise the value
of the electricity interconnector between the Isle of Man and UK
mainland.
     The A45 million interconnector runs between Bispham in Lancashire
and Douglas on the Isle of Man and is capable of carrying 40MW in each
direction. At 105km it is the longest AC interconnector cable in the
world.
     "The development costs of the interconnector to the UK placed us
under pressure to put the link to the highest and best economic use and
we feel our relationship with Enron has accomplished this" said Mike
Proffitt, Chief Executive of MEA.
     "Our commitment to reducing the price of electricity on the Isle of
Man is firmly embedded in MEA's five year plan and our trading
partnership with Enron will greatly assist us in achieving this goal."
     Richard Lewis, Managing Director of UK gas and power at Enron,
commented: "This is a great transaction for both parties and fits well
into Enron's trading portfolio. MEA will benefit from Enron's expertise
as one of the UK's leading energy traders and will provide us with their
skills as operators of their generation plant and the interconnector. It
is significant in that we believe it is one of the first embedded
generation transactions specially tailored for the new trading
arrangements."

Media Contacts:

Alex Parsons
Enron
Tel: 020 7783 2394

Alison Cottier
Manx Electricity
Tel: 01624 687798

(db)LO
                                     -END-
-0- (CRL) Mar/08/2001 13:43 GMT

Energy Trading Companies Pay Big for Weather Talent, WSJ Says
2001-03-08 06:47 (New York)

     Kansas City, March 8 (Bloomberg) -- The growth of energy
trading floors in the past several years has made meteorology a
glamour profession, even for forecasters who never even intended
to predict the weather on television, the Wall Street Journal
reported.
     Weather affects commodities trading and determines
electricity and natural gas supply and demand. That's why large
energy trading companies like Enron Corp., Williams Cos. and
UtiliCorp United Inc. recruit top weather-forecasting talent, the
paper said. Meteorologists with graduate degrees can command
$60,000 to $90,000 a year, far higher than the $33,000 the
National Weather Service pays a junior staffer.
     Energy traders use in-house weather forecasts to make quick
bets on the direction of electricity and natural gas prices. Fast
and accurate predictions can earn huge profits, the paper said.
     Many meteorologists say they like the pace and action of the
trading floor. While some in the profession work in broadcasting,
most meteorologists labor in the less visible and action-oriented
worlds of academia or government research, the paper said.

(Wall Street Journal 3-8 A1)

ENRON FAILS TO ATTRACT BIDS FOR 30 PCT STAKE IN INDIAN OIL FIELD

03/08/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, March 8 Asia Pulse - US energy major Enron Corporation's bid to
sell its 30 per cent stake in Panna-Mukta and Tapti oil and gas field has met
with lukewarm response primarily due to inherent problems with the project.
Several glitches in the joint venture agreement and disputes with other
partners in the joint venture, Oil and Natural Gas Corporation (ONGC) and
Reliance, have kept away international oil giants like Royal Dutch Shell,
British Petroleum and BHP of Australia, industry sources said.
While Enron is believed to have pegged the sale price of its stake in the
Indian venture at US$700 million, independent evaluations by various domestic
and international companies have discounted the figure between US$250 to
US$380 million factoring several pending agreements and unresolved issues,
sources said.
ONGC, which holds 40 per cent stake in the US$900 million venture, Reliance,
having 30 per cent interest in the gas fields, and Indian Oil Corporation
(IOC) are among the 4-5 companies that are left in the fray for acquiring
Enron Oil and Gas India Ltd (EOGIL's) stake in Panna-Mukta and Tapti fields.
Inspite of over three years of operation, Panna oilfield's processing tariff
has not yet been fixed with ONGC and the promoters have not yet reached a
final agreement on gas transportation cost from Tapti, sources said.
Besides, delivery point for Panna has not been determined which has resulted
in a 10 per cent revenue loss which the government deducts from the total gas
revenue of the company.
(PTI) 08-03 1002

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

SINGAPORE: PetroChina plans five gas, products lines by 2005.
By Chen Aizhu

03/07/2001
Reuters English News Service
(C) Reuters Limited 2001.

SINGAPORE, March 8 (Reuters) - PetroChina has mapped out plans for a massive
pipeline gridwork to be in place by 2005 and to ship huge hydrocarbon
reserves in China's west to its thriving east, government and industry
officials said on Thursday.
"A total of five pipelines are planned in the 10th five-year plan
(2001-2005), four gas and one for refined oil products," a senior industry
official told Reuters by telephone from Beijing.
Officials estimated total cost of the projects at 50 billion yuan ($6
billion) at least.
Topping the agenda and the largest of the five projects is the 4,200-km gas
trunk line winding eastwards from China's central Asian region Xinjiang to
the Yangtze River Delta.
Construction of the $4.8-billion project is set to start later this year.
Officials said construction would begin with the 1,600-km eastern section
from Jinbian in northwest Shaanxi province to Shanghai, where initial gas
supply is expected to land in 2003.
The longer western section connecting Tarim to Jinbian is slated for
completion by 2005, officials said.
PetroChina aims to move between 12 and 20 billion cubic metres (bcm) of gas
through the trunkline in 2005.
HUGE UNTAPPED RESERVES
Officials estimated about 720 bcm of recoverable gas reserves remain in the
Shan-Gan-Ning and Tarim basins. PetroChina's most recent big discovery in the
Sulige field in the northern Ordos basin has proven reserves of 220 bcm.
PetroChina is hoping to lure foreign firms to invest in the project,
including top three oil majors ExxonMobil , Royal/Dutch Shell Group and BP
Amoco .
Also under planning is a three bcm-per-year gas pipeline from Jinbian to
Beijing, Hebei and Shandong. Sources said Shell and PetroChina were jointly
studying the project.
A third gas line is planned from Zhongxian in the gas-rich southwest Sichuan
to Wuhan and Hunan provinces in central China, officials said.
U.S. gas and electricity firm Enron Corp is a joint developer in the Sichan
gas block, which will send supplies via the proposed 740-km line.
Sichuan, which produced 7.995 bcm of gas in 2000, is presently China's top
gas producer, according to official data.
The fourth gas pipe, stretching 953-km eastwards from Qaidam basin to Lanzhou
in the northwest, is expected to be operational in May with an annual
capacity of two bcm, according to Beijing-based industry newsletter China
OGP.
The project, which targets PetroChina's subsidiary refineries in Lanzhou,
will cost 2.25 billion yuan, China OGP said.
LONGEST PRODUCTS LINE TO MOVE OIL SOUTH
PetroChina also is set to build a 1,247-km refined products pipeline from
Lanzhou to oil-thirsty Sichuan to move surplus products out of the remote
northwest region.
A feasibility study for the line, which would be the longest products
pipeline in China, was approved recently, a senior official with the State
Development Planning Commission told Reuters from Beijing.
Officials said the project would replace rail transport and eventually cut
PetroChina's oil distribution cost.
"The railway system has a bottleneck which only allows a limited oil flow at
one time, and it's much more expensive (than pipeline)," said a Beijing-based
PetroChina official.
When built in 2005, PetroChina would be supplying five million tonnes a year
of mostly gasoline and diesel to Sichuan, one of China's most populous
province and which buys most of its oil by rail or ship from neighbouring
provinces.
($1=8.277 yuan).

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


Ben -

I have changed your supervisor in PEP from Jeff Donahue to L Don Miller per
your request.  When did Don become your supervisor?  (The Program database
shows Jeff Donahue).   Are you still in ENA Capital Structuring, CC#105729?

Terry


<<RE: Stepenovitch>> Your message

  To:      jls@fullenweider.com
  Subject: RE: Stepenovitch
  Sent:    Mon, 29 Oct 2001 13:17:04 -0600

was delivered to the following recipient(s):

Jonda Stowell on Mon, 29 Oct 2001 13:09:20 -0600

Message-ID: <OF2869DA75.7B0F8A80-ON86256AF4.0069F23B@enron.com>
From: Joe.Stepenovitch@enron.com
To: jls@fullenweider.com
Subject: RE: Stepenovitch
Date: Mon, 29 Oct 2001 13:17:04 -0600
Return-Receipt-To: Joe.Stepenovitch@enron.com
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
X-MS-Embedded-Report:
Content-Type: text/plain;	charset="iso-8859-1"


Sharon, I think it works best for only one of us to respond to these data requests.  Would you mind taking that role?  Thanks.  Michelle

-----Original Message-----
From: kevin.r.kosub@us.andersen.com@ENRON
Sent: Tue 11/20/2001 8:00 AM
To: Cash, Michelle
Cc:
Subject: RE: Employee List

Michelle,

It looks like my contacts have added more than one addition to our list of

possible Enron employees.  I am forwarding on this complete list w/ 25 more

possible employees to search.  Can you let us know if these people were

Enron employees and their dates of employment?   Sorry, I didn't send this

list with the request yesterday, but it was not generated at the time of

the request.

Thank you,

Kevin Kosub

(See attached file: Employee Search.xls)

*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If

you are not the addressee indicated in this message (or responsible for

delivery of the message to such person), you may not copy or deliver this

message to anyone. In such case, you should destroy this message and kindly

notify the sender by reply email. Please advise immediately if you or your

employer do not consent to Internet email for messages of this kind.

Opinions, conclusions and other information in this message that do not

relate to the official business of my firm shall be understood as neither

given nor endorsed by it.

 - Employee Search.xls <<Employee Search.xls>>


>===== Original Message From "Cary Wintz" <cdwintz@att.net> =====
Dear Kim,

Here is my translation of the minutes of the September 27 meeting.  Later
tonight,  I will leave a printed copy and your notes.  Please let me know
when we can get together to discuss this.  it should not lake more than a
few minutes.  Please keep all materials together; we neet to attach much of
this material to the minutes for the permanent record.

Cary

----- Original Message -----
From: "Kim & John Watson" <john.watson@pdq.net>
To: <cdwintz@worldnet.att.net>
Sent: Sunday, October 14, 2001 8:13 PM

> Carey,  Here are the minutes the the last board meeting.  Please call me
if
> you have any questions.  I would be happy to walk you through my notes.
>
> Thanks, Kim.
>
>
>