-----Original Message-----
From: 	Pehlivanova, Biliana
Sent:	Monday, November 12, 2001 10:54 AM
To:	Rohmer, Gisselle; Beylin, Anya; Marolo, Massimo; Velez, Luis; Ramirez, Jose A; Guzman, Julio; Lombard-Benito, Giselle; Mills, Bruce; Kulic, Sladana-Anna; Cardenas, Catalina; Gupta, Gautam; Khandker, Dayem; Gandhi, Sachin
Subject:	FW: Highlights from this morning's ENE/DYN analyst conference call

 -----Original Message-----
From: 	Tucker, Patrick
Sent:	Monday, November 12, 2001 10:25 AM
To:	Pollan, Sylvia S.; Culotta, Lindsay; Murrell, Russell E; Plachy, Denver; Cuilla, Martin; Storey, Geoff; Yawapongsiri, Virawan; Mahmassani, Souad; Donohoe, Tom; Ruscitti, Kevin; Shively, Hunter S.; Lewis, Andrew H.; Giron, Darron C.; Frihart, Bryant; Tucker, Patrick; Roberts, Linda; Luce, Laura; Hogan, Irena D.; Vickers, Frank; Williams, Jason (Trading); Mims, Patrice L.; Simpson, James; Hodge, John; Keavey, Peter F.; Mckay, Brad; Mckay, Jonathan; Pereira, Susan W.; Pimenov, Vladi; Ring, Andrea; Savvas, Leonidas; Townsend, Judy; Versen, Victoria; Barbe, Robin; Concannon, Ruth; Goodell, Scott; Jones, David; Kaiser, Jared; Loving, Scott; Bates, Kimberly; Muhl, Gil; Smith, Maureen; Smith, Shauywn; Taylor, Craig; Willis, Jim
Subject:	Highlights from this morning's ENE/DYN analyst conference call

Listened in on the analyst call this morning.  Here are my notes.  Did not yet have a chance to organize them, so they're simply in chronological order.

The call began with Watson, Bergstrom, and Whalley reading from prepared statements.  Watson spoke for c. 10 minutes, Bergstrom for 5, and Whalley spoke for perhaps 30 seconds.  Dynegy management was noticeably in control of the call.  Enron executives spoke when questions were directed to them.

Specific points:
EES will be a part of the new company.
Enron assets will be revalued at closing.
The investment in Northern Natural takes the form of convertible preferred.  If the merger does not go through, Dynegy has the right to acquire Northern for 'very little' additional consideration.  If DYN terminates the merger and ENE 'has sufficient liquidity', ENE has right to repurchase the convertible preferred.
Debt/equity of combined company expected to be <45%.
Both companies will remain on RatingsWatch negative.
ChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.
Watson reiterates that going forward, the new entity will be run with a focus on transparent and clear financial structure and disclosure, with a significant reduction in on- and off-balance-sheet leverage.
In what was termed a "new approach", the new entity will be run with a focus on cash flow rather than earnings.
Rumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron <$50MM.
Lay says that Enron had other options, 'particularly financial'.
All of the discussion and activity has taken place over the last two weeks.
Lay acknowledges that the number for exposure to securities lawsuits may be 'pretty big', but that the companies feel they're able to appropriately value this exposure.
Lay says we have nothing else to hide, but internal investigation still under way.
Lay:  had the SPEs been capitalized with perhaps $30MM more of risk capital, there would have been no question that they would have qualified for off-balance-sheet treatment and there would have been no need to restate earnings last week to reflect consolidation of the SPEs.
Dynegy says that 'several' internal investigations continue at Enron, and thus DYN/ENE cannot say with certainty that there's absolutely nothing else out there.
Doty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.
Osprey will be unwound late next summer. Marlin will be unwound after closing.
Many of the off-balance-sheet structures, including the credit-linked notes, are expected to be unwound/redeemed or at least significantly reduced prior to closing.
With regard to ENE asset dispositions, these will be accelerated to the extent possible.  However, Doty says that 'our backs are not against the wall', and the company will continue to focus on getting value for its assets as well as cash.
ENE will renew its 364-day facility (believe this is the $3Bn facility that we drew down a couple of weeks ago) within the next 6-8 weeks.
BBB-flat most likely rating for combined entity, according to initial comments from ratings agencies.
McMahon says 'no comment' to WSJ article indicating that ENE's banks are preparing to make an equity infusion into ENE in the next few weeks.
Consolidation of trading activity: Mid- and back-office consolidation will see substantial progress prior to closing, such that only the front office / trading books will need to be combined at closing.  EES, NNG and TW have no real overlap with existing DYN activity, so there won't be much integration work required there.  The big integration effort will be ENA.
Watson says that the 'creative financing' surrounded non-core assets.  Doty adds that, 'frankly', DYN assigned zero economic value to non-core businesses in their valuation model.  They bracketed the maximum expected exposure from the non-core assets/businesses and left it at that.
Watson mentions that DYN would not have gotten involved with Enron had they not been approached by 'Enron's top three executives', who said that they thought a combination with Dynegy made the most strategic sense for both companies.  Says that their approach evidenced a  willingness to work with DYN to integrate the two companies that made a big difference in Dynegy's deliberations on proceeding with the merger.
Watson/Doty said that they're NOT 100% sure that no surprises remain in Enron's books--but that the risk/reward offered by the combination was compelling.
The deal does have material-adverse-change outs for Dynegy, covering any MAC regarding Enron's assets or businesses.  Dynegy's lawyers indicated that the MAC language was a 'blunt instrument' under which it would be difficult to bring a case, so Dynegy inserted a specific paragraph that gives Dynegy the right to terminate the merger if the Enron's total legal liability (from any source or cause of action) tops $3.5Bn prior to closing.
McMahon adds that there 'could' be more restatements, but he 'does not expect' there to be more restatements.
ENE international hard assets definitely on the asset disposition list.
The merger structure calls for a new entity to take over Enron.
Enron is planning to hold an Enron-specific conference call in the next few days, tentatively scheduled for Wednesday.
Initial reaction of ratings agencies 'very positive' to combined entities.
McMahon acknowledges that Enron would have had to have an additional equity infusion prior to year-end, had the merger not materialized.
Dynegy's earnings guidance places Enron-related earnings accretion at $0.90-0.95, which represents a '25% haircut' to Enron internal estimates.  Doty says that this is all operating earnings--figure does not include any amounts from expected synergies.
Doty says that both Enron and Dynegy's books, as far as he understands, are relatively short-term in weight, and this will continue to be the weighting of the new entity.  Says a 'very very substantial' portion of future trading earnings will be expected to be cash.
ChevronTexaco's investment in Dynegy was calculated at a 5% discount to public prices on the date of negotiation (not disclosed).  Given the runup in Dynegy stock last week, ChevronTexaco's investment is now at a 'more substantial' discount to market prices.  ChevronTexaco has provision to get 'different prices at closing if those prices are substantially better'.  (No further clarification given).
Whalley believes that 'we'll retain' the Enron traders and marketers. They're used to being part of a winning team, and the combined entity will definitely be a winner.  They have talked with most of the Enron business leaders, and they are 'very excited' by the combination.  They will be working with the Enron business leaders to ensure talent is retained.  Whalley was asked if there will be any key employee retention provisions.  He says that 'to the extent necessary, yes.'
Watson says that the trading strategy of the combined entity will be a combination of DYN and ENE--there will be more of an asset-backed trading focus, but by the same token the new Dynegy will be involved in much more financial market-making trading than the Dynegy of today.
Watson says that if there were to be any change in culture, he's a strong team player.  He does not want to see an individual do well if the company or division does not do well.

Patrick Tucker


Nina,

We shall contact you for a phone interview.

Vince

nina knirel <knirel@yahoo.com> on 11/20/2000 05:13:47 PM
To: Vince.J.Kaminski@enron.com
cc:
Subject:

708 Graham Place #207
Austin, TX 78705
November 20, 2000

Dear Mr. Kaminski:

I read with interest your company,s description on the
Web page. I was highly impressed by the work that
ENRON Corporation does and would like to inquire about
employment opportunities with your company.

Enclosed is a copy of my resume that details my
academic qualifications and practical experience. I am
excited about stepping into a position, which will
utilize my technical, analytical, and interpersonal
skills in a fast paced environment, and look forward
to expanding my horizons with new challenges and
opportunities that ENRON Corporation   will offer. I
know from customer and supervisor feedback that I have
the interpersonal skills imperative to building a
successful career at the ENRON Corporation and am
motivated to do so. Your firm has an excellent
reputation and I genuinely look forward to becoming a
part of the ENRON Corporation community.

I know you must be busy during this time of the year,
but I would sincerely appreciate a few minutes of your
time. I plan to call you within the next seven days to
discuss how my education, practical skills, and
background would qualify me as a member of your
company. In the meantime, if you need to contact me,
my daytime and nighttime number is (512) 474-6683 and
my e-mail address is knirel@mail.utexas.edu.

Thank you very much for your time and consideration. I
look forward to talking to you.

Sincerely,

Nina Knirel

__________________________________________________
Do You Yahoo!?
Yahoo! Calendar - Get organized for the holidays!
http://calendar.yahoo.com/
 - knirel resume final[1].doc


It is our responsibility to pay the fees, which I hope will need to be paid
today.

Thanks,

Kay

From: Theresa Vos/ENRON@enronXgate on 04/25/2001 08:24 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Citibank's billing wire instructions

Is Enron responsible for paying these fees?  If so, when do they need to be
paid?

thanks,
theresa

 -----Original Message-----
From:  Mann, Kay
Sent: Tuesday, April 24, 2001 2:17 PM
To: Vos, Theresa
Cc: Thome, Stephen
Subject: Citibank's billing wire instructions

Hi Theresa,

I'm not sure if Steve Thome mentioned this to you, but Enron is opening an
escrow account in connection with a transaction with Delta Power.  He
suggested that I forward the wiring instructions for the payment of the
escrow fee of $10,500.  Please let me know what other info you need to tee
this up.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/24/2001 02:13
PM ---------------------------

"Lawrence, Estelle A" <estelle.a.lawrence@citi.com> on 04/24/2001 02:08:44 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc:

Subject: Citibank's billing wire instructions

Kay,

As per Steve's request, please find below our wire instructions for the
fees.  Feel free to give me a call should you have any further questions.
Thanks.

Citibank, NA
ABA 021000089
A/C 3611-3293
F/B/O 795184, Enron/Pegasus Escrow

Estelle Lawrence
Citibank Agency & Trust
111 Wall Street, 14/3
New York, NY 10005
T: 212.657.2076
F: 212.657.3862


Scott,

I'm handling outside counsel, and spoke with him this week.  I'm prepared to
give legal advice on the issue.

Scott Laidlaw@ENRON_DEVELOPMENT
12/15/2000 10:00 AM
To: Kay Mann@ENRON
cc: Chris Booth@ENRON, Dan Shultz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ben F
Jacoby@ECT

Subject: westinghouse 501D5A gtg, with damaged generator - outside counsel

plz provide name, address, phone number of outside counsel.  i'd like to set
up a meeting for early next week between scott, chris, kay, and outside
counsel to outline the issues and establish the framework for an expedited
legal opinion on enron's position.  plz advise.  thanx.  scott.


Thanks.  do i need to do anything with the form?


CALENDAR ENTRY:	APPOINTMENT

Description:
	PRC-Interview

Date:		1/25/2001
Time:		8:00 AM - 5:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Mr. Hines -

To get back with you re: your question about some kind of Futures/Options
market in the commercial space market, Ken Lay said that to approach Jeff
Skilling about it is absolutely the right approach.

Rosalee

Jeff_Hines@hines.com on 08/28/2000 06:05:38 PM
To: Kenneth.Lay@Enron.com
cc:
Subject: Arena

I wanted to make sure you were aware of something that has come up since
the last breakfast meeting regarding our group financing the Arena parking
garage.  Baker & Botts put us in touch with the Rockets to discuss Hines
being the Development Manager on the Arena and garage.  Although not fully
agreed, there is strong interest on both sides.  Besides help on the
development front, we think there may be value in our acting as a bit of a
buffer between the Sports Authority and the Rockets and coordinating any
issues involving the new convention hotel(where we are also providing
development management).  The Rockets(Mike Goldberg-Baker & Botts) have
talked to Ric Campo and supposedly he is enthusiastic but thinks this
should "be the Authority's idea.".  One issue is how much of our fee would
apply to the garage, which presumably the city would pick up, and how much
would apply to the Arena.  Since this is a fast moving issue, I wanted you
to know about this. Obviously the discussions are all very confidential.
If you have any thoughts in advance of the next breakfast meeting, please
give me a call at 713-966-2606.

Also, on another topic, we have been doing a tiny bit of pie in the sky
brainstorming on the concept of creating some kind of Futures/Options
market in the commercial space market.  I will approach Jeff Skilling
unless you would recommend elsewhere within Enron.


I thought that the recruiting championship was the only one that mattered.

To: Eric Bass/HOU/ECT@ECT, Luis Mena/NA/Enron@Enron, Matthew
Lenhart/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT,
Chad Landry/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT
cc:
Subject: Very Interesting


Please respond to
Vince,

Attached is our  team's term paper in pdf format.  Please let us know if you still problem  opening the file.
Thank you very  much.

Best Regards,
Winny So

Rice University
Jesse H. Jones Graduate School of  Management
MBA Candidate, Class  of 2001

2018 Richland Court
Sugar Land, TX 77478
Home:   (281) 265-3522
Mobile:  (281) 989-8417
E-mail:  so@rice.edu> http://www.ruf.rice.edu/~so/
  - Modeling Project.pdf


Fine

Ina Rangel
08/22/2000 02:08 PM
To: Phillip K Allen/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Thomas
A Martin/HOU/ECT@ECT
cc: Kimberly Brown/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT, Becky
Young/NA/Enron@Enron, Laura Harder/Corp/Enron@Enron
Subject: ENA Fileplan Project - Needs your approval

Carolyn Gilley who is a department head in our records management group has
hired the firm, Millican & Assoicates to come in and compile all of our
current and archived files into a more suitable fileplan.  Enron has given
permission for this firm to handle this, but they need further approval from
each one of you to deal with your backoffice people and with your assistants
in compiling this information to complete their project.  Below is a more
detailed letter from the firm explaining their work here.

Please respond to me that I have your approval to give for them to complete
your project.

Thank You,

Ina Rangel
---------------------- Forwarded by Ina Rangel/HOU/ECT on 08/22/2000 01:56 PM
---------------------------

Sarah Bolken@ENRON
08/22/2000 08:17 AM
Sent by: Sara Bolken@ENRON
To: Ina Rangel/HOU/ECT@ECT
cc:
Subject: ENA Fileplan Project

Ina, here is information concerning the scope and purpose of our project:

We are records and information management consultants from Millican &
Associates, who have been hired by Carolyn Gilley, ENA's Records Manager, to
formulate a Fileplan for all of ENA's business records. The approach we're
taking to develop this Fileplan is to perform a generic  inventory of each
ENA organization's records. Now, we generally meet with an executive (usually
a vice president, director or manager) within each group to first explain
this project and seek permission to perform the inventory. We'll then ask
that executive to designate someone within his/her area to serve as our
working contact. The contact is usually someone who is very familiar with
their department's record, and can be a manager or support staff.

There are a number of reasons we are working on this ENA Fileplan Project.
Enron, as I am sure you know, creates volumes of paper and electronic
records--much of it has never been captured on a records retention schedule.
Many departments are keeping records well beyond their legal retention
requirements, taking up valuable and expensive office space. The Fileplan,
once completed, will document what is being created, who has responsibility
for it, and how long it must be maintained.

Enron has also invested in a software product called Livelink. Livelink is an
imaging system whereby you can scan your documents into it, index them, and
then use the "imaged" document viewable from your computer as the working
copy. After scanning, the paper can either be destroyed or transferred to
offsite storage, depending upon its retention requirements.

During our inventory we will attempt to capture both paper and electronic
records. We'll also try to identify any computer systems your area uses, i.e.
MSA, SAP, etc.. The inventory itself is painless and non-invasive, in that we
do not open or look into file cabinets or desk drawers. It's simply an
interview process where the contact answers a few easy, simple questions.

 If you have any additional questions, please feel free to give me a call.
Thank you.

Sara Bolken
X35150


Robert, please check on this with the TCO schedulers and let me know what you
find out.

Thanks
---------------------- Forwarded by Chris Germany/HOU/ECT on 12/28/99 09:38
AM ---------------------------

pdrexel@columbiaenergygroup.com on 12/28/99 07:52:26 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: January 2000 Volume

This is to offset TCO volumes only.

Chris_Germany@enron.com on 12/27/99 09:26:37 PM
Please respond to Chris_Germany@enron.com

To: Paul Drexelius/CES/ColumbiaGas@COLUMBIAGAS
cc: Dan_Junek@enron.com

Subject: Re: January 2000 Volume

What pipe is this off of or is it split up between several??

pdrexel@columbiaenergygroup.com on 12/27/99 02:03:03 PM

To:   Dan Junek/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc:
Subject:  January 2000 Volume

---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on
12/27/2000 02:09 PM ---------------------------

Heidi Boyd
12/27/99 02:04 PM

To: 8145895507&Lori Bunce&BeldonBlake@mailfax
cc: Noel Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas, John Singer/CES/ColumbiaGas@ColumbiaGas
Subject: January 2000 Volume

Hi Lori,

I believe we are still pulling our Local Production from you behind NYSEG,
please let me know ASAP if you disagree.

I am going to pull    1620 dth's/day  , again, let me know if this creates a
problem for you.

Thanks!


There have been growing concerns regarding the copying and distribution of
licensed and copyrighted materials among various groups within Enron.  For
example, if you are a subscriber to Petroleum Argus, Intelligence Press,
Energy Intelligence, Opis, or any other information source, it is unlawful to
copy and distribute that information among others if only one
license/subscription is ordered.

Such activity exposes Enron to legal ramifications and reflects poorly on our
reputation as a professional and ethical company.

If you have copyrighted material that you would like distributed, please
contact either Bruce Ferrell at 853-4815, or Julie Pechersky at 853-9225 in
Market Data, to address the issue.

Thank you for your cooperation in this matter.


Kelly,

I got you address from an e-mail from Meg and thought I would say hi. How is
work going? Still in boston? I'm still plugging away at ENE. Buy the stock.
It's the next CSCO.

Gotta hop!

w/b

Chris


Following please find the Daily EnronOnline Executive Summary.

EnronOnline Executive Summary for 11/15/00
Transaction Summary
External Transactions Today	5,085
Average Daily External Transactions (30 day Trailing Avg)	3,419
Total Life to Date Transactions	440,459

EnronOnline Daily % of Entity's Total Transactions for 11/15/00	Trans	Percent
Enron North America	4,620	81%
Enron Europe Limited	111	29%
Global Products	125	19%
Enron Metals	229	16%

EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg)	49%

Gross Notional Value of EnronOnline Transactions	Total
Today	4,000,299,356
MTD	31,761,370,240
LTD	245,193,054,918
Average Daily Notional Value (30 Day Trailing Avg)	2,372,511,738

Notional Revenue from Physical Flows to Date	16,671,661,790

Counterparties, Users, and Products Offered
Counterparties having transacted to date	565
New Counterparties transacting for the first time today	5
Number of Products Offered Today	1,280
Total Number of External Users Logged on Today	2,923
Average # of External Users logged on (30 day Trailing Avg)	2,733


Welcome back.
PL


I just sold CES 8980 day for 1st and 2nd at the CGAS pool for International
Paper - deal 159101.


This meeting has changed to 10:30 a.m.  It will be held in the same conference room.

Thanks,
Amanda

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 3:57 PM
To:	Neal, Scott; Ring, Andrea; Ames, Chuck; Townsend, Judy; Mckay, Jonathan; Brawner, Sandra F.
Subject:	RE: trading plan and products, etc meeting

The meeting will take place in ECS06100.

Thanks,
Amanda

 -----Original Message-----
From: 	Neal, Scott
Sent:	Thursday, January 31, 2002 2:22 PM
To:	Ring, Andrea; Ames, Chuck; Townsend, Judy; Mckay, Jonathan; Brawner, Sandra F.
Cc:	Rybarski, Amanda
Subject:	trading plan and products, etc meeting

I would like to get together Monday, February 4 at 9:30am to discuss the startup of our business
including products, points, responsibilities etc.

Amanda will notify you with the location.

Thanks,

Scott


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/31/2001
03:44 PM ---------------------------

"Andreas Simou" <andreas.simou@garp.com> on 01/30/2001 08:24:38 AM
To: <Vince.J.Kaminski@enron.com>
cc: <Shirley.Crenshaw@enron.com>
Subject: The GARP Convention: Instructions to Chair

Dear Vince
?
The GARP 2001 Convention is nearly upon us! At this  time, I would like to
send you some information concerning the Convention and  the stream that you
will be Chairing on Tuesday 13th February.
?
When you arrive at the Convention, please make your  way to the Convention
Registration desk, where I will greet you and register you  for the event. I
will then show you to your conference room. As speakers arrive,  I will
introduce them to you.
?
As Chair, you will introduce and sum-up?the  stream.?You will also introduce
individual speakers. Attached are the  biographies of the speakers that will
be presenting during your stream. May I  recommend that you read these in the
meantime and also bring them with you on  the day so as you can introduce the
speakers prior to their presentations. Below  is an outline of the order of
speakers in your stream.
?
I have allocated 40 minutes per session, with five  minutes between sessions
for change around time between speakers. Most speakers  will speak for 30-35
minutes and allow about 10 minutes for Q and A. Should a  speaker?seem like
they are reaching the limits of their time, the Chair  will bring this
to?their attention prior to the last?5 minutes  allocated to them.?It is also
the role of the Chair to?ask the  delegates for questions, asking each
questioner?for their name and the  organisation they represent. Should
delegates be a little slow on?the Q and  A take-up, often the Chair will have
some thought-provoking questions to put  forward. I shall ensure that there
are GARP people in the room with microphones  to hand to delegates with a
question.
?
There may be occasion for the Chair  to?announce some housekeeping on behalf
of GARP.
?
If you have any questions?please do not  hesitate to contact me, otherwise I
look forward to meeting you in a couple of  weeks.
?
Kind regards
?
Andreas?

?

TRACK ) 4 ENERGY  RISK

Measuring Energy Risk )  Tackling Price Volatility, Adapting VaR, Scenario
Modeling and Regulatory  Requirements

Vince Kaminski, Enron  NA

Energy Credit Risk  Management

Baxter Gillette, Ameren  Energy

The Volatility Challenge:  Efficient Modelling of Price Volatility for  Energy

Spyros Maragos, Dynegy  Inc.

Lunch

TRACK ) 4 CORPORATE RISK

Modeling Corporate Risk at  Ford ) Risk Management from a Shareholder Value
Perspective

Freeman Wood, Ford Motor  Company

Enhancing Shareholder Value  through Alternative Risk Transfer ) A
Manufacturer,s  Perspective

Ash Srivastava, Bombardier  Inc.

Coffee  Break

All Bets are On: Enterprise  Risk Management 2001

James Lam,  Erisk

Understanding the Scope of  Reputational Risk Events ) Whether Prevention is
Possible, Risk Indicators  and Establishing a Risk-Conscious Culture

Peter Schofield, American  Express

_____________________________
Andreas Simou
GARP, Conference  Director
Tel? +44 (0)20 7626 9301
Fax +44 (0)20 7626  9900
andreas.simou@garp.com
?
Don't miss the GARP 2001 Convention,
program details via  our web site
www.garp.com
 - Gillette-bio.doc
 - Wood-bio.doc
 - Srivastava-Bio.doc
 - Lam-bio.doc
 - Schofield-bio.doc


Are you going to get a Palm Pilot?


Rose M. Berkowitz
26 Johnson Road
Somerset, NJ 08873-2930
rmberkowitz@att.net

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Rose M. Berkowitz


Start Date: 4/27/01; HourAhead hour: 17;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042717.txt


Sara,

Please review the following collar transaction.  (Special notice of the
premium payment added.)

Any comments

Fax of deal ticket to follow....

Bernice


That plan seems good to us.

See you then.

Pete


Martin  Jerome Pathon 11 pts
Martin   Jerry Rice   16 pts
Tony  James Allen  35 pts
Kaz  Troy Brown     0 pts


I wanted to clarify our game plan for the next couple of weeks.

1.  Tomorrow a meeting is taking place with FuelCells to resolve some major
outstanding business issues.  At this meeting, the point is going to be made
that in order to maintain the desired schedule, FCE is going to have to
increase its technical effort.  Presently, we are concerned that the
technical aspects of the purchase order are not in sufficient order to
finalize a purchase order by next week (we want to make certain that our deal
with FuelCells is largely defined before we make a state filing).  We are
going to emphasize to FCE that both sides need to devote their technical
resources to this goal.  One of our priorities is to bring the technical
portions of the purchase order up to the level necessary to finalize an
order.  I need the Tony Leo list today so I can show FuelCells all the
information that they owe us before this meeting.

2.  We have redrafted the purchase order.  However, the P.O. needs refinement
to reflect the resolution of the outstanding business terms and to make
certain that the technical information and procedures are clearly defined
(much of the information that I sent you).  Given 1) the proposed payment
mechanics and 2) FCE's lack of mature documents, we are concerned that FCE
will try to get by with loose technical language to avoid acceptance and
ultimately payment issues.  Also, we are concerned that once we make our
state filing that our negotiating leverage with FCE will go down. One of our
major focuses jobs between now and 11/3/00 is to make certain that the
technical sections of the P.O. are properly defined.

3.  With regard to the BOP cost estimates, I would like to get the revised
estimates no later than tomorrow.  Our current plan is to make a state filing
(CRRA will make the filing and the filing will be the source of the funding)
which clearly defines our basic assumptions in coming up with these estimates
(we will not show the complete estimates) and to show conservative ranges.
You will be given the opportunity to review and comment on the cost and
technical information provided in the filing.  A draft of the filing is to be
sent to CRRA by 11/3.  Given this approach, it is less important that we go
to the sites next week.  Our focus should be on getting the purchase order
into shape (from a technical point of view) and making sure that the state
filing is accurate as to our base technical assumptions.

4.  The state filing is expected to be made by CRRA in the subsequent week.

Please give me a call if you have any questions.


THANKS A BUNCH!

"Moore,Denise I" <denise.moore@dhs.state.tx.us> on 11/03/2000 12:05:53 PM
To: ddavis@enron.com
cc:
Subject: Mailing list

Dana,

     Here is a partial list of addresses I had here at work.  I will have to
go home and find the others.  Do you have a fax machine at home?

Denise

 <<SEEDSLAB.WPD>>

They are already set up as labels in WP6.0 and these should be transferable
to Word.

 - SEEDSLAB.WPD


Please hold October 12, 2000 (10a to 3:00p) on your calendars for an offsite meeting to discuss wholesale and retail power systems.  Logistics are forthcoming.

Attendees
Tim Belden
Don Black
Anthony Dayao
Kenny Ha
Rogers Herndon
Steve Nat
Murray O'Neil
Beth Perlman
Kevin Presto
Jeff Richter
Lloyd Will

Optional Attendees
Todd Busby
Louise Kitchen

Thank you.


-----Original Message-----
From: Matt Rogers [mailto:mrogers@earthsat.com]
Sent: Monday, April 08, 2002 8:30 AM
To: Schockling, Gregory
Subject: RE: Weather repiort

Greg,

No problem. I'm attaching this morning's basic for you. If you want, we can
keep those products coming to you regularly this week as a free trial until
you've decided.

Take care,

Matt

-----Original Message-----
From: Schockling, Gregory [mailto:Gregory.Schockling@bridgeline.net]
Sent: Monday, April 08, 2002 9:24 AM
To: Matt Rogers
Subject: RE: Weather repiort

Thanks Matt I will get back with you later today, I think the basic package
with the noon update will be what we're looking at.  Just wighing our
options.

Thanks

Greg Schockling

-----Original Message-----
From: Matt Rogers [mailto:mrogers@earthsat.com]
Sent: Monday, April 08, 2002 8:18 AM
To: Schockling, Gregory
Subject: RE: Weather repiort

Greg,

Good morning. Enron was paying for a pretty large weather package from us,
so it may be a steep cost to get the entire package. Were there just certain
products you were using? For example, our basic package, which includes the
1-15 day maps, the 16-city forecasts, the 30-day outlook, and phone access
is $450/month. The noon update would be an additional $150/month. Since you
are a smaller group, I can apply a discount as well...perhaps as much as
20%. Let me know what products you were using from the site and I can put
together a package and quote for you fairly quickly. I'm attaching our
standard price sheet for your reference as well.

Take care,

Matt Rogers
Energy Weather Manager
Earth Satellite Corporation
(301)231-0664 (Phone)
(301)231-5020 (Fax)
mrogers@earthsat.com

-----Original Message-----
From: Schockling, Gregory [mailto:Gregory.Schockling@bridgeline.net]
Sent: Monday, April 08, 2002 9:09 AM
To: mrogers@earthsat.com
Subject: Weather repiort

Matt,

My name is Greg Schockling and I work for Bridgeline Gas Marketing, a
parternship between Chevron/Texaco and Enron.  We previously received your
energy weather via Enron and effective the 5th we stopped receiving it.  I
was wondering what you wouyld charge for us to pick up the service.  Weare a
small shop of 5 traders, we operate a pipeline in Louisiana and want to
continue the service.

Can you quote me what the cost would be to continue the service.  My phone
nummber is 832-851-2806.

Thanks

Greg Schockling

************************************************************************
This e-mail is the property of Bridgeline Holdings, L.P. and/or its relevant
affiliate(s) 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 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
Bridgeline Holdings, L.P. (or any of its affiliates) and the intended
recipient or any other party, and may not be relied on by anyone as the
basis of a contract by estoppel or otherwise. Thank you.
************************************************************************

************************************************************************
This e-mail is the property of Bridgeline Holdings, L.P. and/or its relevant
affiliate(s) 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 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
Bridgeline Holdings, L.P. (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.
************************************************************************


Teresa,

Thanks.

Vince

Teresa Bien @ ENRON   05/16/2000 11:56 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT, Shirley
Crenshaw/HOU/ECT@ECT
Subject: Re: S. Tamarchenko

Thanks for the note Vince!

I will get with Tanya first thing tomorrow morning to go over details on her
daughter's hire.   Swamped this afternoon!  THX


attached is info for credit contact w/ PPL

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490

----- Forwarded by Debra Perlingiere/HOU/ECT on 03/23/2001 10:48 AM -----

	geshay@pplweb.com
	03/20/2001 07:30 AM

		 To: Debra.Perlingiere@enron.com
		 cc: aclovett@pplweb.com
		 Subject: RE: Re: Enron/PPL GISB?

Debra,

Ok, we're getting there.  Please see comments below.

1. Good, please prepare the draft Master Agreement and send it to my
attention.
 We've been doing business with Enron since 1996, so the credit review
shouldn't be a problem.  You can probably find everything you need on our home
page (www.pplweb.com) or call Alan Babp at (610) 774-6129 {
aababp@pplweb.com}.

2. We're at a stalemate on the confirmations.  I have checked with out
electrical side and their negotiated contract with Enron uses "Seller
Confirms".  For Gas GISB contracts while we prefer "PPL Confirms", we
recognize
that almost everyone wants to be the confirming party so we have been
accepting
"Both".  But if you can't accept either of them, I suppose we can live with
"Seller Confirms", since our electrical side has accepted it.  Those are our
choices, in order of preference.

3. Good, I'm pleased you agree to the "redundant" language.  I know it will
help my Trading Controls people.

Please advise...again, I think we're close.
Gary  Shay

-----Original Message-----
From: Debra.Perlingiere@enron.com [mailto:Debra.Perlingiere@enron.com]
Sent: Monday, March 19, 2001 01:00 PM
To: Shay, Gary E.
Subject: Re: Enron/PPL GISB?

Gary,

Thank you for your e-mail of 15 March,  my comments  are as follows:

1. PPL EnergyPlus, LLC:    we will be happy to prepare a draft of a Master
Agreement for your consideration pending ENA credit review;

2. Confirmations:  ENA will NOT agree to both parties confirming,  unless
ENA's confirm is controlling.  If agreed  PPL may also send a confirm with
this understanding;

3, Disclaimer:  we will agree to included  verbiage as requested in the
disclaimer.

Best regards,
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


The report named: NG - Price P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=10&report_name=NG+-+Price+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=11/20/2001>, published as of 11/20/2001 is now available for viewing on the website.


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

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

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


The e-mail should suffice as an official policy. Let me know if you need
anything more.

	Robert Knight
	10/03/2000 08:10 AM

		 To: Dan Dietrich/CAL/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 cc: Mike McClain/PDX/ECT@ECT, Darren P Adamik/HOU/ECT@ECT, Bruce
Smith/HOU/ECT@ECT
		 Subject: Re: Retention Policy on Trading Tapes

Richard,

Will there be an official amendment to the retention policy or should we use
this email as our documentation?

Thanks,  Robert

	From:  Dan Dietrich                           10/03/2000 06:23 AM

To: Robert Knight/HOU/ECT@ECT
cc: Mike McClain/PDX/ECT@ECT, Darren P Adamik/HOU/ECT@ECT, Bruce
Smith/HOU/ECT@ECT
Subject: Re: Retention Policy on Trading Tapes

Will there be an official amendment to the current tape policy?

Have/are you implementing a document which the head trader and legal counsel
can fill out and sign to request call be retained and for what period it is
to be obtained? If so, can Mike and I get a copy of it?

Thanks!

Robert Knight
09/28/2000 03:10 PM
To: Keith Dziadek/NA/Enron@Enron, Jenny Rub/Corp/Enron@Enron, Dan
Dietrich/CAL/ECT@ECT, Mike McClain/PDX/ECT@ECT, Per Sekse/NY/ECT@ECT, Andy
Cowx/LON/ECT@ECT, Robert Shiring/HOU/ECT@ECT
cc: Darren P Adamik/HOU/ECT@ECT
Subject: Re: Retention Policy on Trading Tapes

fyi

From: Mark E Haedicke on 09/27/2000 05:17 PM
Sent by: Janette Elbertson
To: Tim Belden/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Christopher F
Calger/PDX/ECT@ECT, W David Duran/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Jeff Donahue/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, C John
Thompson/Corp/Enron@ENRON, Scott Josey/Corp/Enron@ENRON, Rob
Milnthorp/CAL/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON, Beth
Perlman/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, David
Oxley/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, Jordan Mintz/HOU/ECT@ECT,
Jeffrey A Shankman/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT, Greg
Wolfe/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT,
Bob Crane/HOU/ECT@ECT, Robert Knight/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT
cc: Mollie Gustafson/PDX/ECT@ECT, Felicia Doan/HOU/ECT@ECT, Ina
Rangel/HOU/ECT@ECT, Kimberly Brown/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT,
Christy Chapman/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Marsha
Schiller/HOU/ECT@ECT, Lillian Carroll/HOU/ECT@ECT, Tonai
Lehr/Corp/Enron@ENRON, Nicole Mayer/HOU/ECT@ECT, Darlene C
Forsyth/HOU/ECT@ECT, Angela McCulloch/CAL/ECT@ECT, Jennifer
Burns/HOU/ECT@ECT, Pilar Cerezo/NA/Enron@ENRON, Cherylene R
Westbrook/HOU/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Nicki
Daw/NA/Enron@Enron, Kimberly Hillis/HOU/ECT@ect, Patti Thompson/HOU/ECT@ECT,
Tammy R Shepperd/HOU/ECT@ECT, Debra Davidson/PDX/ECT@ECT, Peggy
McCurley/HOU/ECT@ECT, Jewell Wade/NA/Enron@Enron, Debra Davidson/PDX/ECT@ECT,
Becky Young/NA/Enron@Enron
Subject: Retention Policy on Trading Tapes

Effective October 15, 2000, the retention period on tape recordings of trades
done by telephone will be reduced from four months to one month.  The tapes
regarding significant transactions may be retained for such longer period as
approved in writing by both the Head Trader and the General Counsel.  Please
propose those significant transactions on which you may wish to retain the
tapes, prior to October 15, 2000, since the tapes on conversations older than
one month (except with respect to litigation matters) will be destroyed on
that date.  If you have any questions, please contact Mark Haedicke or
Richard Sanders.

John Lavorato and Mark Haedicke


Good morning to my sweet honey..
Hope your day goes well...I really hope
that I did not come across as insensitive in our
discussion to try to get the townhouse back in the
event we get a contract on our lot, I just want what is best
given the levels of stress we deal with day in and day out
So- I would like to talk further about it- because if it makes sense
to try and keep going on that new construction then maybe we should- I guess we would
have "down time" while it was being built... just hope the lead on our
lot comes through.
love you
k-kay


See below

 -----Original Message-----
From: 	Perez, Irma
Sent:	Thursday, September 20, 2001 10:41 AM
To:	Hill, Robin; Muchmore, Nancy; Scrudder, Tami; Santos, Claudia; Trevino, Maricela; Karathanos, Gina; Cook, Mary; Hankins, Barbara; Hearn III, Ed B.; Maxwell, Matt; Funk, Brenda L.; Tidrow, Norma; Abrams, Clement; Heinitz, Mary J.; Almoina, Denise; Braddy, Martha; Hagerty, Lauren; Flores, Nony; Vassel, Sandra; Kelly, Sue; Ogden, Mary; Korkmas, Deb; Carnahan, Kathleen; Henton, Alvin; Buckley, Cindy; Delahay, Julie; Merone, Aline; King Jr., Frazier; McSpadden, Carol; Eickenroht, Robert; Heard, Marie; Panus, Stephanie; Duron, Rosy; Mckeever, Darlene
Cc:	Callahan, Teresa
Subject:	updating information

We are trying to update our information and I would really appreciate if you all could help me by giving me the most current information........

Name:   [Heard, Marie]  Marie Heard

Location: [Heard, Marie]    EB3801B

Phone Number: [Heard, Marie]    853-3907

Group Name: [Heard, Marie]    Financial Trading - ENA Legal

Fax Number: [Heard, Marie]    (713) 646-3490

Asst. Name: [Heard, Marie]    Joanne Rozycki

Asst. Location: [Heard, Marie]    EB3880D

Asst. Ph. Number: [Heard, Marie]    853-5968

On behalf of Teresa Callahan and myself I would like to thank you all for your time and help. If you have any questions please feel free to contact me by e-mail (iperez@enron.com) or at Ext. 3-9228. If I left any specialist or legal assistants out of this list please forward this e-mail to them as well. Once again I would like to thank you all for your help.

										Irma L. Perez :)


Aaron:  You never told me who in London negotiated the EnronCredit.com Ltd.
agreement with Morgan!  I can try to work off of that ISDA.  Thanks.  Sara


SK - I printed this & put it & attachments in your meeting folder.  mm

Alan Comnes will fax to your attention the EIA reports on Wyoming.  Susan
Landwehr has faxed to you Gov. Geringer's statement before Congress and other
pertinent materials.  We are searching for a recent presentations by Belden
in Santa Fe.  Attached is a presentation Tim made re:  power supply that is
somewhat out of date--note date of 8/14/00.

Sue Landwehr will also prepare a briefing paper for you on the Gov. including
a summary of the positions he has taken recently at WGA and RGA functions.

Attached is a presentation prepared by Steve Walton on transmission
activities in the West.  While I did not present Steve's slides, I used them
as an ouline for remarks I made at the last WGA meeting on transmission.
Gov. Geringer participated in the meeting and appeared to agree with our
approach for adding transmission in congested areas.

I've also attached a copy of a presentation put together by Jeff Dasovich on
energy needs of the high tech industry.  He prepared these at your request
last fall.

Have a good weekend.


Yes, we will be having it at Pastor Beth's.  Do you need directions?  It's at
7:00 pm.

	"Preisinger, Andrea" <PREISINGER@tmh.tmc.edu>
	05/09/2000 03:55 PM

		 To: "'Tana.Jones@enron.com'" <Tana.Jones@enron.com>
		 cc:
		 Subject: RE: This weekend

I didn't get it.  Are we dining at Pastor Beth's?

I know how that software changeover thing can be...

> -----Original Message-----
> From: Tana.Jones@enron.com [SMTP:Tana.Jones@enron.com]
> Sent: Tuesday, May 09, 2000 3:00 PM
> To: PREISINGER@tmh.tmc.edu
> Subject: Re: This weekend
>
>
> I just forwarded directions to Pastor Beth's and a note about the number
> of
> people.  Did you get it?  We just got Windows 2000 and I'm having trouble
> with my emails...
>
>
>
>
>                     "Preisinger,
>
>                     Andrea"               To:     "'Tana Jones'"
> <Tana_Jones@enron.com>
>                     <PREISINGER@tm        cc:
>
>                     h.tmc.edu>            Subject:     This weekend
>
>
>
>                     05/09/2000
>
>                     02:35 PM
>
>
>
>
>
>
>
>
>
> Just wondering how many people we will be serving.  Also, are you going to
> send directiosn to you house?
>
> Thanks-
>
> Andrea
>
>


Shirley,

Vince decided to have Rabi De for a formal interview.  Could you co-ordinate
with HR
to arrange this ? Thanks.

Zimin

---------------------- Forwarded by Zimin Lu/HOU/ECT on 07/26/2000 11:01 AM
---------------------------

Vince J Kaminski
07/07/2000 05:03 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Zimin Lu/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
Subject: Rabi De phone interview

Shirley,

Let's act on it.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/07/2000
05:07 PM ---------------------------

Zimin Lu
07/07/2000 01:51 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Rabi De phone interview

Vince,

We had phone interview with Rabi De.  My impression is good. We should invite
him for a formal interview.

He is a hands on person with wide range of experience ( energy financing,
derivatives trading, hedging, etc).
He communicates very well and expressed interest in financial engineering &
modeling.

Zimin


Please see attached. More detail hs been provided on this as we thought
there was a high probability of detailed questions...

Seabron

This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(617) 354-0060 and permanently delete the original and any copy of any
e-mail and any printout thereof.

Seabron Adamson
Frontier Economics Inc
Two Brattle Square
Cambridge, MA 02138 USA
Ph:  (617) 354-0060
Fax: (617) 354-0640
seabron.adamson@frontier-economics.com

 - 01-01-29-SS Briefing note on market power.doc


-----Original Message-----
From: 	Ratcliff, Renee
Sent:	Thursday, October 25, 2001 12:05 PM
To:	Allen, Phillip K.
Subject:	Distribution Form

Phillip,

Pursuant to your request, please see the attached.

Thanks,

Renee


Kim

Besides my chair - here is a list of stuff to chase down while I'm away.

Principal investing Miller owes me a hi - lo valuation of his investments and a meeting alone with him.  I thought that was going to be last week.  Set up the meeting for this week.

Set up the Oxley - Louise meeting is Friday moring, I need some time to prepare for it.

Car Phone

House Computer


The last article...

---------------------- Forwarded by Eric Thode/Corp/Enron on 10/17/2000 08:43
AM ---------------------------

Karen Denne
10/17/2000 07:15 AM
To: Eric Thode/Corp/Enron@ENRON
cc:

Subject: Enron Mentions

fyi, TVA article... are you the spokesman?
---------------------- Forwarded by Karen Denne/Corp/Enron on 10/17/2000
07:17 AM ---------------------------

	From:  Ann M Schmidt                           10/17/2000 07:11 AM

To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Mary
Clark/Corp/Enron@ENRON, Laura Schwartz/Corp/Enron@Enron, Elizabeth
Linnell/NA/Enron@Enron
cc:

Subject: Enron Mentions

Enron's Third-Quarter Profit Rises 31 Percent as Sales Surge
10/17/0 7:36 (New York)

Enron's Third-Quarter Profit Rises 31 Percent as Sales Surge

     Houston, Oct. 17 (Bloomberg) -- Enron Corp., the world's
largest energy trader, said third-earnings rose 31 percent as
revenue more than doubled.
     Net income rose to $292 million, or 34 cents a share, from
profit from operations of $223 million, or 27 cents, in the year-
earlier quarter. Enron was expected to earn 32 cents a share, the
average estimate of analysts polled by First Call/Thomson
Financial. Revenue rose to $30 billion from $11.84 billion.
     Revenue from Enron's wholesale energy operations and services
unit, which consists of marketing energy commodities and investing
in energy-related assets, more than doubled to $28.2 billion from
$11.1 billion. Revenue from its retail energy services business
almost tripled to $1.48 billion from $542 million.
     In the year-earlier quarter, a gain of $345 million, or
44 cents a share, and a charge of $278 million, or 36 cents, made
net income $290 million, or 35 cents.
     Shares in the Houston-based company rose 50 cents to $80
yesterday. They've risen 80 percent this year.

--Per H. Jebsen in the New York newsroom (212) 893-3368, or
pjebsen@bloomberg.net, through the Princeton newsroom (609) 279-
4000/als

Story illustration: To see the breakdown of Enron's annual sales,
see {ENE US <Equity> DES6 <GO>}.

USA: Enron earnings rise 31 percent, beat expectations.

10/17/2000
Reuters English News Service
(C) Reuters Limited 2000.

HOUSTON, Oct 17 (Reuters) - Enron Corp., North America's biggest buyer and
seller of electricity and natural gas, said on Tuesday its third-quarter
earnings rose 31 percent, beating Wall Street's expectations as online
trading helped drive strong growth at its wholesale energy operations.
Recurring net income rose to $292 million or 34 cents per share from $223
million or 27 cents in the third quarter of 1999. Wall Street analysts had
expected earnings of 32 cents a share, according to First Call/Thomson
Financial.
"Our wholesale and retail energy businesses have achieved record-setting
levels of physical deliveries, contract originations and profitability," said
Chairman and CEO Ken Lay.
"We operate in some of the largest and fastest growing markets in the world,
and we are very optimistic about the continued strong outlook for our
company," Lay added.
Enron, which has recently branched out beyond energy into fields such as
broadband telecommunications and metals trading, said third-quarter revenues
rose 154 percent to $30 billion compared with the same period of 1999. The
company's stock has risen some 80 percent so far this year.

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

Oct. 16, 2000, 10:35PM
Arena-backers promote plan to group of Hispanic leaders
By JANETTE RODRIGUES
Copyright 2000 Houston Chronicle
Pro-arena forces did some direct marketing to the Hispanic community Monday,
pitching the $175 million plan to a grass-roots group of Latino leaders.
More than 150 community activists and leaders, precinct judges and
civic-association members attended an informational meeting and
get-out-the-vote rally for the Nov. 7 arena referendum. The rally was
sponsored by the Let's Build It Together political action committee.
"By having our Hispanic community come out in force for issues like this, it
empowers us," said Celina Garza-Ridge, a Harris County-Houston Sports
Authority director. "It's very important to be able to say the Hispanic
community made a difference, and we are exactly in that position."
George Postolos, the Houston Rockets' chief operating officer, said the team
is actively courting the Hispanic community.
The pro-arena committee, headed by former Reliant Energy Chairman Don Jordan,
and Ken Lay, Enron chairman and chief executive officer, does not want a
repeat of the 1999 referendum.
Voters last November soundly defeated the previous arena proposal. The sports
authority is a governmental body whose members are appointed by the city and
county to oversee and develop sports venues.
The Rockets made a 30-percent participation commitment, similar to the one
made four years ago by the Houston Astros for Enron Field, to fairly share
the new arena's design and construction jobs with minorities and women.
The team also promised to distribute up to $50,000 a year in neighborhood
improvement grants of up to $1,000 each to worthy grass-roots, nonprofit
organizations and civic clubs in inner-city Houston. The new program targets
the Hispanic community, Postolos said.
The new arena plan is being endorsed by a cross-section of Latino leaders,
including City Councilmen John Castillo and Gabriel Vasquez, state Rep. Mario
Gallegos, the Hispanic Chamber of Commerce and others.
Vasquez told meeting attendees that the city, and the Hispanic community, is
getting more tangibles this time around.
He said, "When you consider that our community will get 30 percent
affirmative action, that our youth will be taken care of through youth
outreach programs and our neighborhoods will be taken care of as well, this
is a really good deal for Houston and this is a really good deal for the
Hispanic community."
Mercedes Alejandro, who represents Parents for Public Schools of Houston,
heard the details of the plan for the first time.
"It's good if it creates jobs for the community, and opportunities to rebuild
the community," she said. "We want it to be good for the whole, not the few."
Humberto Barrera, president of the Mexican American Sheriffs Organization,
was critical of Hispanic leaders, not the arena plan.
"I think Hispanic leaders should be more concerned about issues like pay
raises for teachers, health care and public safety, than building arenas for
rich entrepreneurs," Barrera said.
Richard Torres, director and CEO of the Hispanic Chamber of Commerce, told
attendees that the Rockets are committed to doing the right thing.
Sergio Davila, president of the Eastwood Civic Association, brought up the
lack of Latinos in leadership positions on the team's staff. Postolos
acknowledged that the team needs to do better.

TVA Says Enron Breach Of Power Sales Pact Cost $140 Mln
By Bryan Lee

10/16/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

OF DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- The nation's top two power providers are battling in
a U.S. court over an unexecuted power sales agreement.
The Tennessee Valley Authority (TVA) has filed a claim against the power
marketing unit of Enron Corp. (ENE) alleging breach of a power sales
contract.
TVA cited the alleged breach of contract in documents provided to its
distribution utility customers earlier this month outlining unforeseen
expenses contributing to the government-owned utility's inability to meet its
debt-reduction forecast.
According to the documents, obtained by Dow Jones Newswires, the alleged
breach of contract contributed to a $140 million shortfall during fiscal year
2000.
TVA was initially reluctant to divulge information on the case, which is
under a court protective order.
"A major power provider elected not to perform under the contract," said
David Smith, TVA's chief financial officer, when asked Friday to elaborate on
the line item in the information provided to TVA's distribution utility
customers.
But after consulting with attorneys, Smith revealed that Enron was the
subject of the claim.
TVA alleged breach of contract after Enron sought a declaratory judgment
order from the U.S. District Court in Chattanooga, Tenn., in February,
stemming from a dispute over a long-term sales agreement, an Enron spokesman
said Monday.
In March, TVA filed a counter claim with the court alleging breach of
contract, a TVA spokesman said Monday.
But the two parties declined to discuss the terms of the contract, or to
elaborate further on the dispute, citing the judge's protective order. TVA
said Enron sought the court seal.
The dispute is the latest example of bad blood between the Houston-based
energy giant and TVA, a government-owned utility that ranks among the largest
U.S. power producers.
The relationship deteriorated after the two began squabbling over access to
the lucrative U.S. Midwest power market, which saw extreme price spikes
during hot weather in the summers of 1998 and 1999.
After the summer of 1998 - in which power that typically sells for between
$30 and $50 per megawatt-hour spiked as high as $7,000 per megawatt-hour -
Enron cited a study showing that TVA's power grid represented the only
unconstrained transmission pathways into the Midwest.
TVA experienced an increase in revenues for the period when power prices were
spiking upward.
Enron built gas-fired peaking power plants with an eye toward capitalizing on
the volatility in summer power markets by purchasing transmission access
across TVA's system.
After the summer of 1999 saw a repeat in extreme price volatility, Enron
began complaining that TVA was unfairly denying transmission service by
failing to act in a timely manner in response to transmission service
requests.
A TVA spokesman said the contract dispute was unrelated to the disagreement
over the government utility's handling of transmission-access requests.
But the filing of the court case occurred at the same time Enron went public
with its complaints about TVA's transmission service.
In February, Enron released a letter to Energy Secretary Bill Richardson
asking for the government's help, charging that TVA was unfairly giving its
own power marketer transmission service on a timely basis while Enron's
requests were gathering dust.
Enron later dropped the matter, saying that TVA was processing its
transmission service requests on a timely basis. -By Bryan Lee, Dow Jones
Newswires, 202-862-6647,
bryan.lee@dowjones.com

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


we are going to a concert and will be home about 10:30 - the dog is very
friendly and won't bite

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Friday, June 01, 2001 10:54 AM
To: Nancy.Sellers@RobertMondavi.com
Subject:

Talked to Prentice.  She's up for golf, so expect us Saturday night.

Best,
Jeff

P.S. Don't forget to water!


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---------------------------------------------------------------------
This message has been provided free of charge and free of obligation.
If you prefer not to receive emails of this nature please send an
email to remove@commissioner.com.  Do not respond to this email
directly.

This message was sent to: plove@enron.com
---------------------------------------------------------------------


The T3 new disk storage technology and new database server for TAGG/ERMS
database were successfully implemented last weekend. No problems have been
reported. Nagesh and Ramesh reported performance improvement of CPR and
RisktRAC. Although users have not noticed significant improvement of the
system, we believe that performance gain will be seen when system load is
high and that the new disk storage technology will provide us with better
fall-tolerance and better performance in the long run.

I want to thank everyone involved in the implementation for the good work.
Special thanks go to Michael Barber for his sacrifice of first two days of
his vacation to configure the new server and disk and for his excellent work
during the implementation. Many thanks also go to the DBAs, Alex Hsieh, Brian
Ngo, Soo-Lian Ervin and Mable Tang for their diligent work in making database
migration and performance measurement and in making sure of a smooth database
migration. I want to specifically thank Nagesh Kavi for his great efforts of
coordinating all system testing among development groups. I also want to
thank Malcolm Wells, Wilford Stevens, Terry Sanvido, Dave Commensen and Jay
Krish for their active support during the implementation. Many thanks also go
to the Ganapathy Ramesh, Jeremy Wong, Ed Calderon, Dave Wei, Senthil
Mayilsamy, Narasim Kasaru, Nayan Dattani, Ron Nolte and Mike Swain for their
hardworking in testing all applications of related systems. Special thanks
also go to Unify team for having made the implementation by the end of year
2000 possible by swapping the server and the new T3 disks with TAGG/ERMS and
for their cooperation during the implementation. Last but not least, I want
to thank Jeff Gossett, Kam Keiser, Errol Mclaughli, Michelle Bruce, Shifali
Sharma, John Swinney and Stacey White for their efforts of performing user
acceptance testing on the New Year Eve day.

Thanks

Zhiyong


See Below.
----- Forwarded by Deb Korkmas/HOU/ECT on 08/30/2000 01:59 PM -----

	Mary J Heinitz
	08/30/2000 01:54 PM

		 To: Deb Korkmas/HOU/ECT@ECT
		 cc:
		 Subject: Missing File

The original documentation delivered in connection with the First Amendment
to Indenture dated as of March 26, 1999 among Brigham Exploration Company,
Chase Bank of Texas, Joint Energy Development Investments II Limited
Partnership and ECT Merchant Investments Corp. has been removed from the
Legal Dept. file room, although the empty file folder was left on the
shelf.   Please check your office and return the contents of this file to me
AS SOON AS POSSIBLE.

We are having a penalty-free week for return of files.  Please help them find
their way back to the file room.


The quantity adjustment should be 398,487 per the attached spreadsheet.
Please confirm.

Edward Terry
09/08/2000 09:55 AM
To: Susan W Pereira/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Andrea
Ring/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT
cc:
Subject: ENA Adjustment at Nville

FYI,

Per the memo, ENA's storage account will be REDUCED by 420,588 mmbtu!!!!!!

---------------------- Forwarded by Edward Terry/HOU/ECT on 09/08/2000 09:52
AM ---------------------------

Robert D Morgan
09/08/2000 09:36 AM
To: Harold Bertram/HOU/ECT@ECT
cc: Randall Curry/Corp/Enron@ENRON, Hugh Connett/Corp/Enron@ENRON, Robert
Shiring/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Anita K Patton/HOU/ECT@ECT
Subject: ENA Adjustment at Nville

The results of the February 26th PVT test conducted on Nville have been
discussed with each of you over the last three months.  As we have
discussed....effective Sep 13th,  Anita will make the adjustments to Enron's
inventory and pad gas to reflect the February 26th results.

I talked with Gary Wilson, and he confirmed that the revised values are
correct.  Attached is a spreadsheet that contains the values.

The correction to the working gas includes TWO corrections.  The results of
the February 26th test reduces the working gas by 398,487MMBTU.  In addition,
there is a reduction of 22,101MMBTU which is the difference between the SCADA
values (Best Available) that Anita showed on the February 29th Storage Sheet
and the "official" February 29th values that Gary Wilson received from MIPS.

To summarize:
 Enron's pad gas will now be 3,993,310MMBTU, instead of 4,223,000MMBTU.
 Enron's working gas will be reduced by 420,588MMBTU.

Call me if there are any questions.


Both 457489 and 459812 were logged in Mike's trade book with "no broker fee"
written in the margin. I checked with Mike Driscoll, who helped Swerzbin
enter the deals, who verified that these are sleeves of other deals and do
not require broker fees.

Let me know if Natsource still disputes this.

Thanks,
Kate

Kerri Thompson@ENRON
11/28/2000 12:52 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: natsource fees

did you even find out about deals 457489 and 459812?

thanks

   Kate Symes @ ECT                11/22/2000 11:51 AM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: natsource fees

I've checked with Matt Motley and changed 458712 and 458718 to reflect broker
fees of .0075.

I've left a message for Mike Swerzbin to double-check. He has 457489 entered
in his log book with no broker fee, but 459812 says nothing either way; so
I'd like to get ahold of him before I change anything.

Thanks,
Kate

Kerri Thompson@ENRON
11/22/2000 09:19 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource fees

458712 .0075
458718  .0075
457489  .0075
459812  .0075

the broker shows the fees on these trades, we have 0.  can you check this out?

thanks


-----Original Message-----
From: 	Hillier, Bob
Sent:	Wednesday, May 02, 2001 7:46 AM
To:	Webb, Jay
Subject:	FW: Victoria Storey's Baby

fyi . . . . .

bbh

 -----Original Message-----
From: 	Wu, Barbara
Sent:	Tuesday, May 01, 2001 3:56 PM
To:	Hillier, Bob; Bowling, Chris; Nguyen, Mai; Cummins, Douglas; Gonzales, Francis; Harrell, Dan; Burks, Andrew; Sablatura, James; Lim, Kenneth; Moen, Steve
Subject:	Victoria Storey's Baby

Vicki called me today to announce that her baby boy has arrived!

Cameron James Storey
4:29 AM - April 28th
 7 lbs. - 19 inches

Vicki looks forward to going home today, as she and Cameron are doing well.

<Embedded Microsoft Clip Gallery>


Many of you have inquired about January reimbursements to 2002 flexible spending accounts.  Aon Consulting, Enron's flexible spending account administrator, has experienced some processing delays.  Aon has encountered difficulty in retrieving spending account deduction information, and some deductions are not appearing in Aon's records.  Enron Benefits is working with our IT group to help Aon resolve this issue.  Also, unprecedented activity at the end of 2001 flooded Aon with year-end claims.  Aon has assured us that 2001 reimbursements are now up-to-date, and that they began processing 2002 reimbursements on Monday, February 4.

Questions regarding flexible spending accounts can be directed to georgia.fogo@enron.com.


Unplanned Losses - ($1942.41)
Static Sch Fees - $374.00

Total - ($1568.41)

ERCOT Sch Fees - $418.00


Oops I forgot to cc you guys... sorry!
----- Forwarded by Meredith Philipp/Corp/Enron on 10/05/2000 02:35 PM -----

	Meredith Philipp
	10/05/2000 02:33 PM

		 To: Kenneth Lay/Corp/Enron@ENRON
		 cc: Rosalee Fleming/Corp/Enron@ENRON
		 Subject: Worth Magazine interview details

Worth Magazine is doing a stock profile on Enron.  Enron is listed in the
Worth Portfolio - top stock picks selected by Worth's editors as the best
representatives of the new economy.

The magazine states that the "editors chose the companies listed here on the
basis of their sound business plans, high-quality plans, high-quality
products, solid finances, efficient operations and capable managers.  The
companies must operate in markets with the potential for explosive growth."
The Worth Portfolio list includes:  Applied Materials, Broadcom, Cisco,CMGI,
eBay, ENRON, Millennium Pharm, News Corp., Nokia, Oracle, Charles Schwab &
Co., Sun Microsystems, Sycamore Networks and Worldcom.

The reporter writing the profile, Jeff Schlegel, has already completed
interviews with several executives and is scheduled to interview you by
telephone at  10:30-10:45am on Monday, 10/9.  I will come to your office to
place the call.  A quick photo shoot will immediately follow from
10:46-11:00.

Schlegel will ask the following questions:

What are your views on how Enron has evolved, both operationally and
culturally, from a pipeline company to a new economy powerhouse?
What has your role and vision been in selecting top managers and senior
executives?
Where do you see Enron in the next 5 years?


please fill people in the attached floor plan


Thanks.  SS

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Wednesday, September 26, 2001 11:02 AM
To:	Shackleton, Sara
Subject:	RE: ISDA Master Agreement

Sara,

Currently we have a blank "sample" for our Paragraph 13s which are attached to our sample ISDAs for (a) US Corporate, (b) Hedge Funds, (c) Municipal.  I will extract the one for the US corporate Paragraph 13 and email to your contact @ First Union Securities.

The sample includes our "caveat", so it should be fine.

Susan

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Wednesday, September 26, 2001 10:57 AM
To:	Bailey, Susan
Cc:	Rohauer, Tanya
Subject:	FW: ISDA Master Agreement

Susan:  While Tanya is reviewing credit, can you please send a "blank form Paragraph 13" for this master.  Just our standard.  Caveat:  subject to credit review even though there are blanks.  Thanks.  Sara

 -----Original Message-----
From: 	"Suchdev, Vijay" <vijay.suchdev@funb.com>@ENRON [mailto:IMCEANOTES-+22Suchdev+2C+20Vijay+22+20+3Cvijay+2Esuchdev+40funb+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Wednesday, September 26, 2001 10:14 AM
To:	Shackleton, Sara
Cc:	Gray, Steven
Subject:	RE: ISDA Master Agreement

First Union Securities, Inc.

Hi Sara,

I just wanted to follow up on whether you will have a chance to send a draft
Credit Support Annex (similar in form to the one previously executed with
ENA).  I understand you may not have credit approval yet so perhaps we can
leave the appropriate sections blank in the meantime.

Thanks and regards,

Vijay K. Suchdev
Vice President
Equity Derivatives
First Union Securities, Inc.
Telephone: (212) 909-0951
Facsimile: (212) 891-5042
email: vijay.suchdev@funb.com <mailto:vijay.suchdev@funb.com>

	-----Original Message-----
	From:	Shackleton, Sara [SMTP:Sara.Shackleton@enron.com]
	Sent:	Tuesday, September 25, 2001 3:27 PM
	To:	Vijay.Suchdev@funb.com
	Subject:	ISDA Master Agreement

	Vijay:

	I've been trying to call you for about an hour, but the circuits are
all
	busy.  Sometimes it's easier for NY to call out than for us to call
NY.
	I'll be in my office for about an hour before meetings.  Also, I am
free
	in the morning.  We'll need to recall exactly where we were at the
	beginning of August.  Thanks.  Sara

	Sara Shackleton
	Enron Wholesale Services
	1400 Smith Street, EB3801a
	Houston, TX  77002
	Ph:  (713) 853-5620
	Fax: (713) 646-3490

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

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

This is for your information only and is not an offer to sell, or a solicitation of an offer to buy, the securities or instruments mentioned.  The information has been obtained or derived from sources believed by us to be reliable, but we do not represent that it is accurate or complete.  Any opinions or estimates contained in this information constitute our judgement as of this date and are subject to change without notice.  First Union Securities, Inc. (FUSI), or its affiliates may provide advice or may from time to time acquire, hold or sell a position in the securities mentioned herein.  FUSI is a
subsidiary of Wachovia Corporation and is a member of the NYSE, NASD and SIPC.  FUSI is a separate and distinct entity from its affiliated banks and thrifts.


I guess I would be in, what is the fee going to be.  It is a crap load of
work.
PL


We'll take the lesson on the 25th at 11 am.

Thanks,

Susan Pereira

Hermannpk@aol.com on 11/14/2000 07:10:50 PM
To: Susan.W.Pereira@enron.com
cc:
Subject: Re: Riding lessons

I can get you a lesson for sure on Sat. 25th probably about 11AM. I'll let
you know about this weekend.

Helen Peters


Ben, I have a reference document called Gas Turbine World Handbook in which I
look up these type of answers as well for ballpark info. They are the
"preliminary answer" to your question and should be treated as so. Please
keep in mind that these are numbers from a magazine, not from our internal
Performance/Cycles group under Gary Bush (within EECC). They are the dept
that the Dev Engineer typically consults with to arrive at a project's
capacity and efficiency, both from a new & clean standpoint and an average
degradation standpoint. The depts within EECC/NEPCO also come up with the
total installed costs. It is their numbers that are the ones that we
typically bid in a proforma, as such, they are a part of the deal approval
process (DASH). Their buy in is important because in addition to the numbers
that OEM's provide us, they factor in experience, judgement, unique project
characteristics, design basis, intake/exhaust losses, etc. They also look at
the net power for the Plant, not just the equipment itself. Having caveat'ed
these numbers, I would respond to your questions below as follows:

1. PG7241FA Capacity: 171,700 kW each @ generator terminals (ISO conditions,
gas fired @ baseload) -- does not include auxiliaries usage, duct losses
2. 1,060 MW Net Plant @ ISO, gas fired
3. 6,040 Btu/kWh LHV @ ISO, gas fired
4. Plug figure for GTG may be $32,500,000 each. No idea on the ST, swag at
$175/kW. Power island turnkey for 2x1 may be $375/kW (does not include alot
of stuff such as add'l options, development costs, tie-ins, permitting,
spares, etc, etc, etc)

Hope this is useful to you somehow, but please go to the source (described
above) for anything that we are going to hang our hat on.

Benjamin Rogers@ECT
02/04/2000 09:39 AM
To: Scot Chambers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject:

With regards to our conversation yesterday, I am loking for basic economics
regarding GE 7FA's.  Such as, 1. output per turbine; 2. output for 4 7FA and
2 steam turbines; 3.  Heat Rates; and 4. cost per turbine and steam turbine.
Total plant output will need to be 1000 MW's and will be run as a combined
cycle facility.  If you could get me these numbers by the end of the day or
call me to discuss what you currently have that would be great.  This project
is not due till Wednesday.  Thanks
Ben


Hey there:
I will call his assistant and will let you know where and when to pick them
up.  How is everything going?  Is the planning going along smoothly?  Talk to
you soon.
Ben


The following is the weekly deal report covering 5/31 - 6/6.


That should be easy enough.   Paige needs some glasses, and that could run
$200-$300.
Dental is also covered, if we have any uncovered dental expenses.  I'm going
to guess we might have another $100 in prescriptions to fill this year as
well.  I could stand some new glasses also.

Your Eckerd's glasses can also be submitted.

We need to forecast for next year, as open enrollment starts soon.

Kay

"Neil Mann" <nmann@erac.com> on 10/16/2000 02:39:52 PM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE: reimbursement

Election was $2400. Paid to date is $784 and I have an additional $712 to
submit. Hopefully they will pay even though the insurance declined to cover
it. So, that leaves a balance of $904 and we will owe Sharon $200 or so by
the end of this month. Depending on what happens after that we might have
another $250 or so from Sharon by the last of December. Best guess, $500 or
so we need to cover somewhere.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, October 16, 2000 1:49 PM
To: nmann@erac.com
Subject: Re: reimbursement

Does that take into account that more money may be going into the spending
account?  I think we have a total of $2500 allocated for the year.  My
records indicate that I've put in $1900 as of my last paycheck.

Love,

Kay

"Neil Mann" <nmann@erac.com> on 10/16/2000 01:08:08 PM

Please respond to <nmann@erac.com>

To:   "C. Kay Mann (E-mail)" <Kay.Mann@Enron.com>
cc:

Subject:  reimbursement

I just received the EOBs back on Sharon Seals. They will not pay. If the
reimbusement account pays it will leave about $900.00 in the account. I
will
try to get the form completed tonight and in the mail tomorrow.
NM


Per my voice mail, attached is the resume for Aram Sogomonian.  Please
schedule a telephone interview with John Lavorato and Aram Sogomonian.  If
you have any questions please let me know.

Norma Villarreal
Sr. Human Resource Represenative
X31545

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
11:02 AM ---------------------------

"Sogomonian, Aram" <Aram.Sogomonian@pacificorp.com> on 10/11/2000 12:03:16 PM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: FW: ARAM G. SOGOMONIAN

 - aram g2.doc


Hi Don,
Hope you were not effected by Allison this past weekend.  I was almost caught in it on Friday.  Kirit Purbhoo and I were up there with your guys and luckily we left in time.  Just as soon as we got off 45 (going North), they started to shut it down.  Anyway, it was still a close call.

 I just wanted to drop you a note to let you know how thankful I am to you and the guys (Joe, Reese & Steve).  By the way , Joe Errigo has given me permission to use him for reference.  It was a great opportunity to get some hands on training.  I really enjoyed the fast paced environment.  Now more than ever I am convinced that this is exactly what I want to do.  The opportunities which are available in your area (shift work and learning to trade and move power) is  very appealing to me and  I am eager to start.  Where I lack in experience, I more than make up for with ambition and dedication.  I can sincerely say that I will do whatever it takes to learn the position and learn it well.  I anxiously wait for an opportunity to interview with you and other managers on the 24 hour desk.   Hoping to hear from you soon.

Sincerely,

Zarin Imam


Susan: My bad!  Maybe the payment combines two Williams entities and that would explain why they amount exceeds our invoice amount.

Shielah: Angelo gave me your name as a contact that could help with regard to cash inflows.  Please provide detail about the cash inflow from Williams on 3/5/02.  Specifically, which Williams company(s) provided the payment?  Thanks

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Thursday, March 07, 2002 1:48 PM
To:	Dicarlo, Louis
Subject:	RE: Daily Direct Cash Flow

Louis,

I have entered into the Demand Log the cash payment information for the counterparties listed below.

I have one question:

	According to the Cash Flow report -- the payment is noted from "Williams Energy Services Company", do we know for a fact that the monies relate to ENA's relationship with Williams Production RMT????

Susan

 -----Original Message-----
From: 	Dicarlo, Louis
Sent:	Thursday, March 07, 2002 12:59 PM
To:	Bailey, Susan
Cc:	Shackleton, Sara
Subject:	Daily Direct Cash Flow

 << File: 030602daily direct cash flow.xls >>
The above attached file contains validation of payment from:

Cross Oil's on 3/5/02 for the full demand letter amount
San Diego Gas & Electric on 3/5/02 for the full demand letter amount
Stone Energy Corporation on 3/6/02 for the full demand letter amount
Williams Production RMT on 3/5/02 for an amount considerably larger than the demand letter amount ($0.75M paid vs. $0.64 demand)

Please update the Demand Letter Log to reflect that their payment was received.  No termination letter will go to these CPs at this time.

Thanks

Louis R. DiCarlo
ENA Gas Structuring
Phone: 713-345-4666
Email: louis.dicarlo@enron.com


Enron Bonds Subject To Market Jitters, Not Buyout Talk
Capital Markets Report- 11/05/01
Market Views Enron Takeover Rumors With Skepticism
Dow Jones News Service- 11/05/01
No Excuses for this Enron Board
RealMoney.com- 11/05/01
This Market Deserves Your Well-Placed Optimism
RealMoney.com- 11/05/01

Enron Bonds Subject To Market Jitters, Not Buyout Talk
By Michael C. Barr
Of DOW JONES NEWSWIRES

11/05/2001
Capital Markets Report
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Reports over the weekend that embattled Enron Corp. (ENE) might be the object of a takeover bid failed to move the company's bonds Monday.
On Sunday, the Independent in London reported that Royal Dutch Petroleum Co. (RD) planned to mount an $11 billion offering for the company. And Barron's stated that there was speculation that Enron might attract takeover interest from either Royal Dutch or Warren Buffet's Berkshire Hathaway Inc. (BRKA).
Enron's bonds are quoted in dollar prices and not in terms of a spread in relation to Treasury bond issues.
A $74 bid and a $77 offer was quoted as the market for Enron's 7-7/8% bonds of 2003 Monday morning, similar to Friday's levels.
"The company's bonds were quoted in the low- to mid-70s on Friday and the rumors have not shown up in that pricing," said Wayne Schmidt, portfolio manager, Advantus Capital Management, St. Paul, Minn.
"Market perception and not takeover rumors impact the pricing of the bonds," said Eric Bergson, portfolio manager, Northern Trust Global Investments, Chicago.
Even an Enron bond with a very short time to maturity is not trading at par, traders said.
The 6.45% coupon bond due on November 15, 2001, less than two weeks away, was bid at a dollar price of 99.
"Some investors don't want to own anything with a downside risk," said Harold Rivkin, principal, H. Rivkin & Co., a distressed debt brokerage firm, Princeton, N.J. The bonds could lose a lot of value in that time frame, with little upside potential gain, he added.
There is "very little liquidity in the company's bonds," said Rivkin. Enron's bonds will follow the company's stock movements, he added. Enron closed Monday at $11.03, down $0.27 from Friday's close of $11.30.
Enron officials weren't immediately available to comment.
Crisis Of Investor Confidence

The Houston-based energy services company has faced a crisis of investor confidence since it reported a $618 million third quarter loss and a $1.2 billion reduction in shareholder equity last month.
And last Wednesday, the company said that the Securities and Exchange Commission had elevated to a formal investigation its inquiry into Enron's financial dealings with partnerships headed by its former chief financial officer, Andrew Fastow.
The ratings agencies have reacted to the company's liquidity problems brought about by the loss in investor confidence. Fitch downgraded Enron's senior unsecured debt Monday to triple-B-minus, from triple-B-plus. It's now just a notch away from junk bond status.
Last week, Standard & Poor's Corp. lowered the credit rating to triple-B, while Moody's Investors Service lowered the rating to Baa2.
Shell May Have Interest, But

Royal Dutch Shell may have an interest in Enron, say analysts.
"Shell has a very sophisticated trading operations and has been looking to expand in North America and Latin America," said Tina Vital, equity analyst, Standard & Poor's.
Enron is known for its trading prowess.
And Enron could also be attractive if it could be bought cheaply, since "Shell has a history of not overpaying for its acquisitions," Vital said.
But, "no one is going to buy the company unless it squares up its equity issues," she added.
The company is not perceived by the markets as having been forthcoming in its financial reporting, analysts said.

-By Michael C. Barr, Dow Jones Newswires; 201-938-2008; michael.barr@dowjones.com

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

Market Views Enron Takeover Rumors With Skepticism
By Christina Cheddar
Of DOW JONES NEWSWIRES

11/05/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- With each day shedding light on new revelations about Enron Corp.'s (ENE) financial dealings, it is difficult to put odds on the company as a takeover target.
But speculation has been persistent that Royal Dutch/Shell Group may use Enron's weakened position to launch either a friendly or hostile takeover.
Over the weekend, the British newspaper, The Independent, fanned the flames of speculation again by saying that Shell was expected to offer $11 billion for the Houston energy trader.
A Shell spokesman wasn't immediately available.
Surely, Enron's thousands of miles of pipeline assets would provide a company such as the Anglo-Dutch oil giant with a great advantage in the U.S. natural gas market, where Shell has maintained it wants to increase its presence.
However, a great deal of study would be needed to uncover the potential liabilities lurking in the company's financial structure. Enroll has used a web of off-balance sheet financing vehicles to fund its growing business and preserve its credit rating thereby lowering its borrowing costs.
Some have also alleged the company used the structure to shift losses off its balance sheet.
Several arbitrageur traders said it is unlikely a conservative company such as Shell would want to make an acquisition while a Securities and Exchange Commission investigation is pending.
As for Enron's core franchise - its energy marketing and trading business - it could be easily argued that the most valuable asset there is Enron's staff. As a result, it would help if deal were friendly because such a transaction could protect against the attrition sometimes associated with hostile transactions.
Shell has been growing its own position in the wholesale energy marketing and trading sector through its Coral Energy unit, and the acquisition of Enron could give it instant clout in the market. Also, Shell's strong balance sheet would provide the market will necessary assurance of creditworthiness.
Traders and those who follow corporate mergers and acquisitions agreed it would be better for any prospective buyer to wait it out until the situation calmed and more details of Enron's business are uncovered.
A growth-fund manager, who requested anonymity, also said it is important to know where the rumors are coming from given the decline in Enron's stock price. He speculated that some hedge fund managers might be attempting to use the rumor to stir up interest in the battered stock.
Enron shares recently traded at $11.14, down 16 cents, or 1.4%. The stock began the day in positive territory, and traded as high as $12.20 intraday.
The stock has declined more than 60% since the company in mid-October posted a third-quarter charge of more than $1 billion. The company also later disclosed an additional $1.2 billion reduction in shareholders' equity caused by the early termination of controversial outside partnerships run by its former chief financial officer Andy Fastow.
In the weeks that followed the disclosure, Enron's credit rating was downgraded by Moody's Investor Service, Standard & Poor's, and Fitch.
-By Christina Cheddar, Dow Jones Newswires; 201-938-5166; christina.cheddar@dowjones.com

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

No Excuses for This Enron Board
By James J. Cramer <<mailto:jjcletters@thestreet.com>>

RealMoney.com
11/05/2001 03:27 PM EST
URL: <<http://www.thestreet.com/p/rmoney/jamesjcramer/10003517.html>>

The more I look at this board of directors at Enron (ENE:NYSE - news - commentary) , the more puzzled I am. I thought that the directors would be somewhat typical of the "professional" board members that predominate at large companies, busy people who wouldn't know a derivative if it walked into them and hit them along side the head with a two-by-four.
It's just the opposite. Let me rip down some of these folks' bios, and you can be as puzzled as I am. Let's take them alphabetically.
Robert Belfer ran Belco Petroleum, and comes from a sophisticated family of oil operatives. He should be able to spot anything that even smacked of chicanery in the oil business from just his old-boy ties. I know this family; they are very smart and very wise to the ways of Wall Street, Main Street and the oil patch.
Norman Blake is a gent I met years ago at USFG, before he sold it at a huge profit. This man has recently served as CEO of Comdisco, a leasing company that is not only comfortable with debt and financing, it is wallowing in it.
Blake has General Electric training. This man can smell things that are not so right from miles away. Where was he in all of this? Stuck in Comdisco hell?
Ronnie Chan is a longtime kingpin in Hong Kong, a place where financial originality is always on display. Chan certainly would have understood how unseemly all of these 17 partnerships would have appeared. He's seen everything over in Kong.
John Duncan is an energy investment guy, a director of EOTT Energy, and a seasoned pro who knows oil and gas financing and accounting. Again, very sophisticated.
Wendy Gramm regulated derivatives. She was the chairman of the CFTC and a director of the Chicago Mercantile Exchange. How could she not have spotted this obvious conflict and probed what these partnerships entailed? That was part of her old job.
Robert Jaedicke was a professor of accounting at Stanford Business School, where he was also dean. This guy wrote the book on this stuff and really should have seen it coming.
(I am skipping Ken Lay, the CEO.)
Charles Lemaistre and John Mendelsohn, two execs from the University of Texas M.D. Anderson Cancer Center, can't be expected to catch this stuff, and therefore gets a pass from me.
Paulo Ferraz Pereira is a former president and chief executive officer of the State Bank of Rio de Janeiro. That's probably put him in more than his fair share of difficult financial situations. How could he not raise a word about it?
Frank Savage serves as chairman of Alliance Capital Management International, perhaps the most sophisticated company in the world of money management. I am sure Savage never saw a situation as bad as Enron's looking through his own company's portfolio of investments.
Jeffrey Skilling, the man who resigned as CEO, needs to be heard from. We know that he is a director of the Houston branch of the Federal Reserve Bank of Dallas, a sinecure that slouches and undervigilant execs don't get hold. What did he know and when did he know it?
John Wakeham, Lord Wakeham to everybody, is perhaps the most financially sophisticated Brit to serve in Parliament. He managed a large private practice as a chartered accountant. He's big and powerful and smart.
Herbert Winokur is a longtime financial hand who also has run investment partnerships and used to serve as a director of Penn Central, a place that saw more than its share of ups and downs and tricky financial situations.
In short, this is the most sophisticated, hands-on group of folks I have come across. I can't believe they checked off on this stuff. I have to believe they didn't know, or if they knew of the partnerships, I believe they had no idea what they were doing.
I want so badly to presume that these partnerships were simply set up to take down a lot of debt and not hurt Enron's credit rating with the agencies -- not that that's such an ethical setup. But at least it makes me think that the board might have been confused or not focused because it would have seemed unimportant, as they might not have known how big and how extended the partnerships were.
Still, let's not fool ourselves. This was a powerhouse, fantastic, upright board of people who know a thing or two. I can't believe they let this stuff occur. I think they knew nothing.
Which is pretty terrible in its own right.

This Market Deserves Your Well-Placed Optimism
By James J. Cramer <<mailto:jjcletters@thestreet.com>>

RealMoney.com
11/05/2001 10:32 AM EST
URL: <<http://www.thestreet.com/p/rmoney/jamesjcramer/10003495.html>>

D?j? vu circa 1991. That's what I keep thinking about. I recall that time vividly. Bank of Boston, Chase, Chemical, Citibank, they all started rallying. We bears would call each other and joke about it. We would say that it was a ridiculous move, that it should be shorted and shorted aggressively, because there was no way that any of these banks would make it.
Heck, Bank of Boston was teetering on insolvency. Citibank was technically bankrupt already. The Jim Grants of the world (more powerful now than they were then because he didn't have as many years of being dead wrong but erudite under his belt) would be alerting everyone to the absurdity of the common stocks of the banks rallying.
I would call the analysts, and they wouldn't know anything either -- the ones who liked the banks all the way down, who still liked them and who had no credibility at all. The ones who hated them didn't want to get off the winning horses. They didn't know that the race was over and that a new one had begun.
Or, to put it the brutal way that I now know was right: No one with a brain was long any of these.
Turns out, of course, that brains were one of those commodities that was wildly overvalued at the bottom. What you had to do was check your skepticism and embrace optimism, because at certain points in history optimists get it right.
That's how I feel about this market. I think the time to be skeptical was before all of the damage occurred. I think we will look back at this period and say the following: The great bear market started in March 2000 and was continuing to run rampant until Sept. 11, the crisis that triggered a massive influx of liquidity and lower interest rates that turned things around. Most of the brains at the time were thinking that nothing really could change and that we were going to slide into a Japanese recession or that no turn would ever come. They were wrong, just like they were in 1991.
We get so caught up in the "Is Cisco bottoming?" or "Is Intel breaking out?" minutiae that we forget that the market has been pretty good for some time now, pretty good since that crescendo selloff two months ago.
You would think that we'd have converted more bears to bulls by now, but like in 1991, it didn't happen until well into the turn.
Don't confuse my optimism with some cold hard realities. I think that, for example, XO Communications is going to fail, and when it does, there will be the requisite selloff and setbacks to tech. I think that McLeod is going to fail and we will see the same. There are a ton of companies that won't get through this period, just like there were a ton of banks and savings and loans that failed long after the turn came in 1991.
And I reserve the right to hate individual stocks. I can't get my arms around how Ford comes back; I don't understand the Enron fiasco at all. I am not even sure that Qwest can staunch the bleeding.
But that doesn't make me bearish.
Understand that I am strictly a Pavlovian creature. Had I not lived through the giant financial short squeezes of late 1990 and early 1991, had I not personally been "bought in" on a half-dozen banks I was shorting and had I not later on seen those banks get big bids from super-regionals not long after I, too, would be suspicious and want to bet against the market. I can't, though, because my capacity for loss remembrance is so much greater than my ability to remember my wins that the pattern stays in my head like a hot stove that I don't want to get burned by again.
Believe me, I am a cold-blooded individual about these things. If I thought the short side was the right side here, I would be all over it. We have had a huge bounce off the bottom; there would be nothing "unpatriotic" about saying "get out now."
But I don't think that's right. I think this market's going to keep working here.
If it doesn't, people will email me and harangue me and make fun of me, and I will say, c'est la vie, I took a stand; it was wrong. Taking stands, however, is what it is all about. Knowing your context and making money with that context is what I do and have done for 20 years. If you don't have a context, if you don't have a view, there's only one thing to do: Give your money to others who do.
Random musings: Glenn Curtis's Era of Value Newsletter has been making me money. When something makes me money I talk about it. Check it out here. Curtis and Gary B. Smith both are doing some terrific things. Understand, I get all of the newsletters out there. I see the hype that a Navallier or a Murphy puts out and I want to puke. This stuff is nothing like that, nothing at all. It is honest, candid and doesn't guarantee that you will shoot the lights out, like those who you know can't ... On my radio show, it's Mutual Fund Monday, where we will fix your 401(k)). Call me at 1-800-862-8686 from 3 p.m. to 4 p.m. ET.