As Final Exams Begin, Power Is a Big Question
The New York Times, 05/13/01

British Telecom
The Times of London, 05/12/01

Houston needs to think small about future technology
Houston Chronicle, 05/13/01

Panel plots new course for area's future / Education, economics, quality of
life top group's list of needed improvements
Houston Chronicle, 05/13/01

MSEB not to pick up 15 pc in DPC after phase II completion
Press Trust of India Limited, 05/13/01

Enron plans to pull out of Gulf gas project: MEED
Agence France-Presse, 05/13/01

SMALL BUSINESS / Pleasure cruisin' / Yacht fleet owner offers customers what
amounts to limo service on the lake
Houston Chronicle, 05/13/01

More power to reform agenda
The Economic Times, 05/13/01

India Power Min: New Power Deal With Enron Unit Possible
Dow Jones International News, 05/12/01

India: Talks begin on Dabhol issue
Business Line (The Hindu), 05/12/01

India to allow 3rd party sale if DPC, MSEB jointly approach
Press Trust of India Limited, 05/12/01

DEFAZIO CALLS FOR STATE TO BUY PGE TO PROTECT RATES
Portland Oregonian, 05/12/01

Congressman suggests state buy PGE
Associated Press Newswires, 05/11/01

National Desk; Section 1
As Final Exams Begin, Power Is a Big Question
By JODI WILGOREN

05/13/2001
The New York Times
Page 16, Column 4
c. 2001 New York Times Company

For final exams, prepared students pack extra pens, calculators, bottled
water, granola bars. And, at the University of California's Berkeley campus
this year, a flashlight.
As state officials and utilities struggle to maintain the power supply during
California's continuing energy shortage, administrators and professors at the
31,000-student campus are planning for the possibility that rolling blackouts
may disrupt exams, which began on Friday and run through next Saturday.
''People here are used to interruptions,'' Sara Abbas, 21, a senior
communications major, said with a shrug as she studied in a cafe near campus.
''People walking in, people running around buck naked and whatnot. People
have cut the power lines. They just reschedule.''
In an e-mail message sent Wednesday, the executive vice chancellor, Paul R.
Gray, advised instructors to use ''individual discretion to decide the
disposition of their examinations once the exam has started.'' Among the
options: delay the test until the lights return; postpone it until a
Saturday; grade the incomplete test; or cancel the exam altogether.
Professors are also encouraged to check a Web site to see if their exam rooms
have windows. ''In some classrooms,'' Mr. Gray noted, ''students may have
sufficient natural light.''
The rolling blackouts could hit most of the campuses of the University of
California and California State University. The two systems are embroiled in
a legal dispute with Enron Energy Services, a Houston-based company that, in
February, cut short a four-year contract to provide electricity directly to
the universities. For now, the two systems -- among the largest energy
consumers in the state -- are being supplied by Pacific Gas and Electric and
Southern California Edison.
Though several medical centers and the Davis, Los Angeles and Riverside
campuses of the University of California system are exempt from the
blackouts, the rest of the campuses have been put on alert.
At Berkeley, the warning from Mr. Gray only heightened pre-exam stress
levels.
''Stopping in the middle of a final would be detrimental to my grade because
I save the hardest questions until the end,'' said Heidi West, 20, a
sophomore majoring in political science.
Aaron Chung, a senior studying cognitive science, said it would be unfair to
grade half-finished exams because he often circled answers instinctively,
planning to return later with more care. ''The only thing I don't have a
problem with is if the professors give everyone A's,'' Mr. Chung, 23, said.
''You have to be under a lot of duress for that to happen.''
Gary L. Firestone, a biology professor, said he would move his 500-member
class out into the sunshine and tell students to spread their blue books on
the grass. But Jeff Good, a graduate student who teaches Introduction to
Syntax and Semantics, said he would probably cancel the exam because the
final counts for only 20 percent of the grade.
That is what Michelle Chen, a junior linguistics major in Mr. Good's class,
is hoping for.
''I would love a blackout,'' Ms. Chen said. ''I'm going to turn on my
air-conditioner. My toaster, too.''

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

Business
British Telecom
Patience Wheatcroft

05/12/2001
The Times of London
News International
Final 4
55
(Copyright Times Newspapers Ltd, 2001)

BRITISH TELECOM has inflicted enough damage on itself in the past year. But
others are still lining up to put the boot in. Hours after the company
announced a Pounds 5.9 billion rights issue and the separation of cash-hungry
BT Wireless, Moody's Investors Service lowered BT's credit rating. This
thumbs-down will cost BT an extra Pounds 35 million a year on existing loans
as well as making future working capital more expensive.
The timing is odd. One of the two other main agencies presented with the same
BT proposals maintained its rating and the other edged it down so little that
change-of-rating clauses were not triggered. In the meantime, the market
prices of BT debt have been rising. The Enron Cost of Credit, which measures
the overall risk premium on BT borrowing, has halved since mid February. Such
costly inconsistencies must focus more critical attention on the agencies,
whose power has grown out of proportion to their accountability.
Moody's verdict is, however, peanuts compared with the cost to BT of the
whims of Stephen Byers and the UK competition authorities. Moody's will no
doubt be aghast to learn that Yell could be worth Pounds 1 billion less as a
result.
In 1996 the Monopolies and Mergers Commission found that BT's Yellow Pages
had an 85 per cent monopoly of its market and made it sign undertakings to
cut prices by 2 per cent a year in real terms. The Office of Fair Trading has
reviewed this report; predictably, it has found that the enforced price cuts
have kept competition down and kept Yell's market share up.
The reasoning behind OFT advice that annual real price cuts should be doubled
is closed to scrutiny until Mr Byers has a new BT undertaking. But it appears
to argue that the market is still a monopoly, so Yell must be charging too
much, so prices should fall further.
The result, according to those formerly eager to buy Yell, is that a growth
business has been turned into a stagnant one, losing all momentum. This
sounds typical of the dead hand of UK regulation. It must strengthen the
resolve of BT's new leaders to remodel what the authorities so hate to the
greater advantage of shareholders.

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

OUTLOOK
Outlook
Houston needs to think small about future technology
WILLIAM DYLAN POWELL

05/13/2001
Houston Chronicle
2 STAR
4
(Copyright 2001)

OK, it's test time - sort of like a breakfast-time Rorschach test for Outlook
readers. Here we go: What's the first thing that comes to mind when someone
mentions Houston?
Time's up. Your answers may have been energy, medicine or seemingly random
acts of highway closure. But how about something very, very small? While
Houston may not exactly be synonymous with all things tiny, we may want to
start giving more mind share to the world of the miniature. As technology
advances, Houston may owe a great deal to the study of small substances.
Nanotechnology is the study of creating functional structures on a molecular
scale (the prefix "nano" means one billionth, or 10 to the ninth power
numerically). Its theories and practices give scientists the means to
construct useful entities using the smallest known particle of unaltered
matter.
Before your eyes glaze over in a terminology-induced science class flashback,
you should hear some of the possibilities that this technology could afford
residents of the Bayou City and their respective commercial enterprises. The
possibilities give the works of science fiction author Ray Bradbury a run for
their money, and include producing computers the size of viruses or factories
that could fit neatly on your desk. Cancer-destroying robots could roam a
patient's innards like mounted police at a spring break celebration.
Eventually, all diseases and mutations could be eliminated. And all
manufacturing processes would become waste-free, both in terms of the
environment and from a business process standpoint.
Sound like science fiction? Maybe, but truth is rapidly catching up with
fiction. A team of university researchers recently figured out how to make a
functional switch out of a single organic molecule. Discoveries such as these
have spawned several branch fields of study including nanobiotics, NEMS
(nanoelectromechanical systems) and nanomedicine.
This technology would surely change the world. But it would especially affect
Houston. Applications for nanotechnology are a great fit for Houston's
economic landscape. The chemical industry already has begun conducting
research in small-sizing certain chemical compounds. And the energy industry,
still our darling, has great interest in the power management possibilities
of nanotech. This could be Houston's next great vehicle for economic
development.
Nay-sayers have expressed caution regarding progress in this field on two
separate fronts. First on how distant potential commercial offerings remain;
and secondly on the potential dangers of combining genetic engineering,
nanotechnology and robotics (for fear of creating self-assembling intelligent
machines as often portrayed in science-fiction movies). But too much
technological progress is happening at once for the possibilities not to whet
the appetites of the entire scientific and business communities.
Already, developmental overtures have been heard from Houston's little sister
to the north. The Dallas-Fort Worth region and its growing base of
semiconductor, light assembly and defense industries are keeping a close eye
on developments in small science. In March, a private-sector company donated
$2.5 million to the University of Texas at Dallas for nanotech research. And
a handful of Dallas-area groups have been quietly conducting research of
their own. This money augments the federal government's nearly half-billion
dollar allotment of 2001 research funding for nanotechnology. Houston has its
own projects, but they receive far less publicity.
Houston's public nanoscience efforts have been centered mostly on Rice
University's grand Turks of academia. Pushing the envelope of academic
excellence as usual, Rice's heavyweight research barons continue to generate
and distribute knowledge on the many potential applications of this exciting
technology. But as successful as they are, they receive far less publicity
and support than other less commercially significant disciplines.
On May 29, leaders from the energy, medical and technology sectors will
converge at the Houston Technology Forum to discuss various technology trends
that will affect Houston's future. Will the keynote speakers (chief
executives from Compaq, the Texas Medical Center and Enron) address the issue
of what Houston is doing to prepare for advances in nanotechnology and its
potential economic impact on the region?
I certainly hope so. Energy, medicine and technology are the terra firma of
Houston's economy. Each of these industry sectors could reap profound
benefits by bringing nanotechnology's concepts to light.
Sure, the fruits of this nascent science are still a long way off. But it's
going to become remarkably important sooner than we think. So while
Houstonians are well known for our love of largeness, it's time to think
small. Let's take a careful evaluation of what this technology could mean to
our city and its economic development.

Drawing

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

A
Panel plots new course for area's future / Education, economics, quality of
life top group's list of needed improvements
MIKE SNYDER
Staff

05/13/2001
Houston Chronicle
4 STAR
33
(Copyright 2001)

A group of prominent business executives, worried that Houston's reputation
as an unpleasant place to live imperils its future, is developing a plan to
transform the city's educational system, urban design and economic base.
The work of the Center for Houston's Future, a nonprofit group affiliated
with the Greater Houston Partnership, reflects growing concern that Houston
must reposition itself as a vibrant, desirable destination if it is to
compete in an economic climate that empowers skilled workers to live wherever
they choose.
Creating such a "livable city," leaders of the effort say, would in turn
enrich the lives of every Houstonian.
"The interests of the business community are fully aligned with the interests
of the community at large," said Eugene H. Vaughan, a money management
executive and board chairman of the Center for Houston's Future.
A report prepared for the organization by a business-based task force
recommends that local leaders challenge long-held assumptions that have
discouraged meaningful land-use planning. It sketches a vision of Houston 20
years from now in which technology and other tools have revolutionized public
education, "livable city centers" have changed the physical landscape and
current civic leaders have groomed a new, more diverse generation of
successors.
The report argues that the business community's traditional leadership role
in Houston's civic affairs should continue. But it suggests the models of
business influence that prevailed in "the old days" should be re-examined.
"Those were the days when oil was king, and Houston was the energy capital of
the world - the days when a handful of `big' leaders, including CEOs of major
corporations, could meet in a room together and decide on the future of
Houston," the report states.
"But times have changed, and there is far less tolerance in Houston's highly
diverse, egalitarian society for a hidden oligarchy to run things, no matter
how benevolent those leaders might be."
The center's board includes top executives of some of Houston's most
successful and influential companies, including Enron Chairman Ken Lay; Ned
Holmes, chairman and CEO of Parkway Investments/Texas Inc.; James Royer,
president and CEO of Turner, Collie & Braden Inc.; William White, president
and CEO of WEDGE Group Inc.; and Jim Kollaer, president and CEO of the
Greater Houston Partnership.
Vaughan said the stature of the board members is an indication that the group
is not likely to generate plans that will simply sit on a shelf.
"They've got so many demands on their time that they're not going to fool
around with something that is ill-conceived," he said.
Rice University sociology professor Stephen Klineberg, one of the experts who
advised the task force that generated the report, agreed that the center's
work could be very influential.
"This is the first time there's been a systematic, coordinated effort on the
part of the business community" to improve Houston's quality of life,
Klineberg said.
The Center for Houston's Future was created in the early 1990s primarily as a
source of research information for the partnership, Houston's premier
business organization. But its role changed about two years ago, Vaughan
said, when Holmes became chairman of the partnership and encouraged the
center to take an aggressive approach to planning for the region's future.
Last summer, the center organized three workshops attended by 36 people
representing a cross section of the business community. These 10-day,
seven-night events, led by professional facilitators and featuring various
guest speakers, produced a report outlining four possible future Houston
scenarios.
James D. Calaway, a member of the center's board, said the details outlined
in the four scenarios are intended to be "illustrative" and are not
necessarily the actions the organization ultimately will recommend. However,
they provide insight into the direction of the group's thinking, he said.
In the first scenario, based on the assumption that local planning and
decision-making proceed much as they have in the past, the workshop
participants speculate that tension between the city and suburbs increases to
the point that the Legislature strips Houston of its annexation power.
Development is greatly restricted because of failure to meet clean-air
standards, property values plummet and the City Council must pass a large tax
rate increase.
Houston becomes a stronghold of low-wage, service-sector employment, and the
gap between rich and poor widens: "For many who live there, it's simply a
large urban sprawl, adrift in the global economy, or it's a three-year
hardship post on the way to something more desirable."
Scenario two suggests that Houston's leaders transform the educational system
by developing a "Teacher Network" that delivers Internet-based educational
resources into every classroom and teacher's home in the region. This in turn
leads to a communitywide electronic educational network, with every home in
the Houston area connected to the Internet by 2007.
These efforts, combined with universal, full-day preschool care, lead to
state-of-the-art local schools by 2010, with almost universal high school
graduation rates and 75 percent of these graduates going on to college or
technical training programs.
The report does not estimate the cost of these measures or identify how they
would be funded. Potential sources, Calaway said, include local, state and
federal tax money, private grants and reallocation of funds now being spent
on more traditional educational programs.
In scenario three, local leaders take bold steps to overcome Houston's
reputation for sprawl, dirty air and lack of green space - perceptions that
hamper efforts to attract the talent needed to keep the region economically
competitive.
These leaders develop a vision of Houston based on the creation of "livable
city centers" - major activity centers targeted for redesign and
redevelopment - and the connection of these centers through "personal and
public transport in corridors that delight the eye."
Within the centers, streets are reconstructed to better accommodate
pedestrians. Financial incentives prompt developers to provide a wide range
of housing styles, including substantial affordable housing. The Main Street
light rail line is built, succeeds spectacularly and is followed by more rail
lines extending in various directions.
To accomplish these goals, the report states, local leaders must overcome
their "ingrained suspicion of planning," and the City Council must adopt
"new, more prescriptive development standards" within the livable city
centers. Early successes lead to a public referendum authorizing the
expenditure of $8 billion over 20 years to create the "livable city."
Scenario four focuses on making Houston a "crossroads of the world economy."
The city's business leadership becomes broader and more diverse, and it turns
its energy toward diversifying the economy.
The energy industry, adapting to the new economic climate, transforms its
business model and creates new, high-tech enterprises. Space, nanotechnology
and biotechnology research help launch hundreds of companies that quickly
become significant global players.
The workshop participants concluded that Houston must accomplish key elements
of scenarios two, three and four if it is to become a "true world-class city
in which to live and conduct business."
Calaway and Vaughan said the next steps will include designating committees
to develop specific recommendations in each of the broad areas studied, such
as education and quality of life. Working groups then will be established to
begin translating these ideas into policy, they said.
Although the center is focused on the long term, they said, it must produce
results as soon as possible.
"If we do not get serious about this, 20 years from now we're going to be a
low-wage environment, putting people in very, very dead- end jobs," Calaway
said during a recent presentation on the group's work to members of the
nonprofit Gulf Coast Institute.
"We've got to get the quality of life right, but we've also got to make sure
that we educate these kids for our future."

Mugs: 1. Ken Lay (p. 45); 2. Ned Holmes (p. 45); 3. James Royer (p. 45); 4.
Jim Kollaer (p. 45)

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

MSEB not to pick up 15 pc in DPC after phase II completion

05/13/2001
Press Trust of India Limited
(c) 2001 PTI Ltd.

Mumbai, May 13 (PTI) Maharashtra State Electricity Board (MSEB) has decided
not to pick up the remaining 15 per cent equity in Enron-promoted Dabhol
Power Company (DPC), which it was earlier supposed to, after the complete
construction of the entire USD three billion power project in Dabhol.
"It is true that we had promised to take the 15 per cent, translating into
infusion of around USD 65 million and given the serious financial stress the
board is facing, it is not going to be possible for us to participate in the
phase II of the project", a senior MSEB official told PTI here Sunday.
Currently, Enron International owns 65 per cent, MSEB -15 per cent, General
Electric and Bechtel 10 per cent each.
However, MSEB is yet to send an official intimation to DPC in this regard,
the official said adding the board would inform the company soon after the
completion of the project.
DPC's USD 1.87 billion phase II would be fired on June seven, 2001, thus
marking completion of the 2,184 MW project.
DPC, which received a Foreign Investment and Promotion Board clearance in
last December for its 10.83 billion foreign Direct Investment, has not been
able to scout an alternative fifth partner for MSEB's equity.
The company had decided to off load the 15 per cent of its current holding of
65 per cent to a new entity, as according to the company's global
debt-consolidation it needed to maintain its stake at 50 per cent in DPC
after its completion.
In order to avoid any delay, Enron had agreed to meet up with the equity
shortfall as per the former's agreement with its lenders.
(THROUGH ASIA PULSE) 13-05 2001

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

Enron plans to pull out of Gulf gas project: MEED

05/13/2001
Agence France-Presse
(Copyright 2001)

DUBAI, May 13 (AFP) - Enron Corp. of the United States plans to pull out of a
project to deliver Qatari gas to the United Arab Emirates (UAE), Middle East
Economic Digest (MEED) reported on Sunday.
Enron is a partner in the Dolphin Energy project along with the
Franco-Belgian company TotalFinaElf and the Abu Dhabi government- owned UAE
Offsets Group (UOG). Its role is to build a pipeline under the Gulf between
Qatar and Abu Dhabi.
"The profit margin for Enron would be low. At present, the Dolphin project is
being developed primarily as an upstream venture," an industry source told
MEED.
Another industry publication, Middle East Economic Survey (MEES), reported
last week that the two other partners regarded Enron's estimated cost for
constructing and laying the 350-kilometre (220- mile) undersea pipeline as
too high.
"There is talk of new partners," a source with TotalFinaElf, whose role is to
develop a block in Qatar's giant North Field, told MEED. "But whatever
happens, we are staying."
On March 14, Qatar and the UAE inked a 25-year term sheet agreement on the
project, setting the volume at two billion cubic feet (20 million cubic
metres) of natural gas per day.
Differences over pricing and volumes had put back the signing of the
agreement for two years after a first statement of principle for Dolphin was
inked by Qatar and UOG in March 1999.
According to MEES, Qatar Petroleum and UOG have finally agreed on a gas price
formula of 1.3 dollars per million BTU (British thermal units) following
"high-level political intervention from Qatar and Abu Dhabi".
TotalFinaElf and Enron are strategic partners in the multi- billion-dollar
project, each holding a 24.5 percent share in Dolphin Energy Limited (DEL),
with UOG retaining a controlling 51 percent stake.
From Abu Dhabi, the gas is to be distributed inside the emirate and on to
Dubai and Oman. An extension to Pakistan through an undersea pipeline is also
planned, as part of a regional gas network.
hc/rp

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

BUSINESS
SMALL BUSINESS / Pleasure cruisin' / Yacht fleet owner offers customers what
amounts to limo service on the lake
CAROL RUST
Special to the Chronicle

05/13/2001
Houston Chronicle
2 STAR
1
(Copyright 2001)

KEMAH - Tom Lober trundled home from second grade with a three- tiered wooden
box he'd made at school.
"This is my houseboat," he told his mother 35 years ago. "When I grow up, I'm
going to live on a boat."
His practical-minded mother put the "boat" to work as a patio plant stand
until it finally rotted from a decade of exposure.
On a recent evening, Lober stood on the bow of one of his four charter
yachts, enjoying the sunset-tinted water and a mild breeze as the 100-foot
luxury boat moved quietly from Clear Lake into Galveston Bay.
"This is what I love," Lober said, scanning a horizon dotted with distant
boats. "The others are here to party, but this is it for me."
The founder and owner of Star Fleet Entertainment Yachts spoke calmly against
the din of a mini-Mardi Gras heating up on middeck, where bead-clad
executives were letting their hair down at their annual appreciation party
for a major customer. A Mae West look- alike hired for the event meandered
among them, handing out cigars and sultry comments in her mermaid-cut white
dress studded with faux pearls and a white feather boa twirled about her
neck.
In the eight and one-half years since the 42-year-old Lober started Star
Fleet, he's seen everything from fire-eaters to hula dancers as entertainment
on the hundreds of custom cruises his staff of 70 puts together each year.
Last year, the company booked 400 cruises, which translated into $2.3 million
in gross sales, in events ranging from Gulf Coast versions of company picnics
to a bat mitzvah with a Gilligan's Island theme. One guy recently plunked
down $2,000 to charter an entire boat for a date.
One of Lober's seven captains is, handily, a licensed minister for weddings.
Star Fleet staff recently added squirt guns, Hula Hoops and limbo sticks as
regular on-board equipment.
"It's a bizarre business," Lober said. "Nothing seems unusual anymore."
Nearly all Star Fleet's cruises include dinner. His kitchen staff does the
prep work for hors d'oeuvres and main courses on land near the marina,
transferring them to a generous galley on board before customers arrive. The
galley crew does the final cooking.
Star Fleet Entertainment Yachts is one of about a dozen businesses of its
size in the country that provides strictly private charter yacht cruises, but
Lober has hundreds of competitors locally.
"I'm competing with caterers, hotels, restaurants - anyone in the eating,
drinking and party business," he said. "People say there are two things
you're never supposed to own: a boat and a restaurant. I put a restaurant on
a boat."
Last month, he launched what he believes is the first-ever water limousine, a
30-foot yacht complete with wet bar, sound system, leather couches, TV and
VCR that takes small groups to waterfront restaurants and bars, just like a
limo does on land.
Sometimes, his clients hop off and dine at one of the restaurants on the
Kemah Boardwalk while the limo is anchored beside it. In other cases, waiters
deliver the food to the boat, equipped with removable dining tables that can
seat 14, and the customers dine while cruising Clear Lake.
Lober was a natural shoo-in for a career on the water. His father owned a
supply boat business in Houston and a fleet of shrimp boats based in
Trinidad. He eventually became president of his dad's supply boat business
after getting a master's degree in maritime management from Texas A&M
Maritime Academy in Galveston in 1981.
But he still had that idea from second grade that grew from living on a boat
to providing exclusive entertainment on the water.
In 1986, he joined the Passenger Vessel Association, a national group of
vessel owners that provides public or private cruises for gaming, ecotourism
or other entertainment. He attended seminars, talked to boat owners,
researched trends in the industry and tried to figure out what it would take
to float his idea.
Lober drew up plans for a boat big enough to accommodate up to 150
passengers, but with a three-foot draft to keep from running aground in the
notoriously shallow Clear Lake and Galveston Bay.
"I wanted to be able to take that boat anywhere on the lake," which is five
feet deep in places, he said.
Bankers were skeptical when he approached them for a loan.
"This was a new business in Houston that had never been done before," Lober
said. "They had no confidence.
"I finally got to the point where I'd just take my business plan into a bank
and say, `I know I'm not going to get a loan - just look at what I've got and
tell me what it needs,' " he said.
Even without a loan in place, Lober began hands-on research. During the week,
he still worked at his father's supply boat business, but flew to Fort
Lauderdale, Fla., on weekends to work as a deck hand and food server for a
charter yacht company to learn the business from the bottom up.
After a year of loan seeking, he found a lender at the Passenger Vessel
Association's annual meeting. Caterpillar Finance agreed to lend him 60
percent of the $950,000 in construction costs if he installed Caterpillar
engines on the boat.
Construction took a year, during which Lober continued his research, serving
drinks on weekends aboard a charter boat on the Detroit River and Lake St.
Clair.
Finally, Lober launched Star Gazer in October 1993.
The maritime academy might have taught him how to navigate by the stars, but
it didn't prepare him for marketing.
"I didn't know what I was doing," Lober said. "The first year, I spent
$125,000 in marketing blunders," including a $50,000 mass mail campaign that
he called "a total flop."
Marketing was twice as expensive as he thought it would be and took twice as
long for potential customers to understand the concept he was trying to sell,
he said. Meanwhile, his boat sat in the stall for up to three weeks at a
time.
Lober had a $30,000 monthly overhead in debt service, office rental,
insurance and slip fees, and "I still had to pay it if the boat didn't leave
once," he said.
Panicked, he joined the Greater Houston Partnership to seek out ideas, and he
got one: target marketing.
He and his small staff scrutinized every detail about the people who used the
boat and set out to find more like them. He set his sights on the corporate
client, which makes up about 70 percent of his business today. Corporate
customers include Enron, Exxon Mobil, Shell, Continental Airlines and Katy
Mills mall.
"We have had our party with Star Fleet every year for five years," said Ravi
Lal, director of ethylene division of Technip, based in San Dimas, Calif.
"The first year, I wanted to do something special that I hadn't seen before.
Everybody likes it, and everybody wants to come back."
Business slowly began to build, and word spread. Lober added the 90-foot Star
Cruiser in 1997, the 74-foot Star Spirit in 1999, and brought in a fourth,
the Lake Limo, last month. Also in 1999, he bought 6 acres with 600 feet of
waterfront and built Star Fleet Marina. While part of that land is still
undeveloped, it eventually will become a parking lot for 500 cars when Lober
adds a fifth large yacht, Star Ship, sometime in the future.
"We plan to add Star Ship when we're turning down enough business from the
other boats," he said.
After more than eight years, Lober has yet to take home a salary, putting
everything back into the business.
The more he puts back, the more business he can accommodate.
But Lober and his staff still keep close tabs on their customers.
"We track everything - which individuals, what type of event, whether they
prefer sit-down dinners, how they heard about us - you name it," he said.
It's a lot of details. He knows that blackout shades, pull-down projector
screens and multiple microphone jacks are needed for presentations, and that
some clients like to be picked up at one of the Galveston hotels or other
locations on the Houston Ship Channel.
If a customer hires a deejay, a crewmember provides padding to put underneath
the CD player on the bandstand because dancing on the steel dance floor
causes the player to bounce.
Lober's three full-time cruise consultants handle charter buses to and from
the marina, limos, menus, photographers and decorations. They work with Star
Fleet's in-house florist and theme designer to provide floral arrangements
for sit-down dinners and Hawaiian leis of fresh orchids and hibiscus for a
major retailer's party, for which the florist helped transform the boat's
stanchions into palm trees.
And consultants have their own suggestions, such as bestowing captains' hats
instead of the usual corsages to employees with top sales who were being
honored at a recent floating awards banquet.
Lober believes his company's custom service brings customers back.
"They handle all the details once, and after customers go on that first
cruise, they're sold on the concept," he said. "People love something
different. We provide a different kind of party. If they do it once, they
usually want to do it again."
But cruises aren't limited to parties, Lober said. Customers have chartered
boats for banquets, retreats, new product introductions, incentive awards
dinners and for scattering loved ones' ashes.
About 60 percent of Star Fleet's business is repeat and referral. The recent
corporate party featuring the Mae West look-alike was the fifth the company
has chosen to have with Star Fleet.
Part of Lober's initial marketing problem - which continues today - is that
Houstonians just don't realize how close to the water they are.
"It's not like Fort Lauderdale, where water is part of the landscape," he
said. "In Houston, there's no high-visibility location to see the water, just
one spot on Loop 610 that overlooks the Port of Houston. Even in Clear Lake,
there are only one or two places when you drive around the lake that you can
actually see the water. We don't have a San Francisco Bay or New York Harbor.
So people have to be reminded."
He also has to deal with the misconception that only the very rich can afford
cruises, Lober said.
"Some people think they can't afford a luxury yacht, but when they compare
our complete package with upscale restaurants, hotel banquet facilities,
country clubs and wedding manors, we are quite competitive," he said. "And
our food is gourmet quality. Just like a five-star hotel, we never cut
corners."
Event cruises start at $40 per guest including food, bar, entertainment, tax
and gratuities.
Lober depends heavily on customer surveys to develop the service he and his
crew provide. And customers informally give Star Fleet staff new ideas with
some of the extras they bring aboard, such as the squirt guns, Mardi Gras
beads, Hula Hoops and limbo sticks.
"We learn a lot from our customers," he said. "We see what they do, take the
best and give it back to them."
Because customer surveys indicate that about 20 percent of Star Fleet's
business comes from being seen on the water, Lober and his captains make
their crafts as visible as possible whenever they take them out. The real
opportunity for hot-dogging comes when a customer charters two or three
boats, and they raft up to become the Star Fleet flotilla, with customers
moving from one boat to another. A three-boat charter can handle up to 375
guests.
But one boat can still do a lot of advertising.
At the recent corporate party, Mae West joined the other revelers who were
slinging Mardi Gras beads at al fresco diners as Capt. Tony DeFore edged Star
Gazer close to the Kemah waterfront. They may not have known it, but they
were doing a little of Lober's public relations work for him.
As the boat pulled back into the Star Fleet Marina, Lober pointed out a barge
under construction. When it is finished - by the end of the year, he hopes -
the bottom floor will be a galley for food preparation, the second the Star
Fleet office and the third floor an 1,800-square-foot apartment.
It will kind of resemble that three-tiered wooden box he brought home from
school years ago, Lober says.
And he's going to live at the top.

Photos: 1-2. Left: Star Gazer, first of the Star Fleet Entertainment Yachts,
launched in 1993, sets sail for Southshore Harbor earlier this month. From
left to right are bartender Bridget Byous, server Leona Clark, Cruise
Director Edith Mitchell and President Tom Lober. Below: Cruise Director Edith
Mitchell unties the Star Gazer's bow line (color); 3. Star Fleet
Entertainment yachts President Tom Lober watches server Leona Clark polish
silverware for a buffet dinner aboard the Star Gazer. Last year, the company
booked more than 400 cruises, generating $2.3 million (color, p. 4)

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

More power to reform agenda
Soma Banerjee

05/13/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

THE electricity industry is often identified as the black sheep in the
infrastructure sector which has continued to lag behind despite an overdose
of government support.
Despite being one of the earlier industries to be opened up, private
investments in this sector have failed to take off.
Worse, the only sizeable project which was something to write home about
Enrons Dabhol Power plant in Maharashtra is currently a under cloud with its
promoters involved in a legal battle with the state entity and its sole
consumer for non-payment of bills. Policy makers and investors in the energy
sector are still groping to find ways and means to improve the performance of
this key industry.
Although private investments were expected to come in a big way in creating
new capacities, policy uncertainties and above all the poor financial health
of the consumer, in most cases the SEBs, have posed major problems for power
plant developers.
After about ten years of liberalisation, the private sector has to its credit
only about 5000 MW and according to projections by experts investments in
greenfield projects are unlikely before four to five years.
The factors that have been taken into consideration in the current projection
are almost inbuilt into the system. For one, there is a general agreement
that stressing on generation alone without doing much on the distribution
front has eroded the financial health of most SEBs.
``Private power developers cannot be expected to invest in projects till they
are assured that they will be paid for the energy produced, experts say.
But like the recent Montek Singh Ahluwalia report maintains, such reforms
cannot be done overnight and will require minimum five to seven years before
they break even.
The sector has already seen major exits like Cogentrix and Powergen and if
the current trends are anything to go by it would not be long before Enron
too says Sayonara India, claim sources in the power industry.
IPPAI, an association for private power investments, feels that the flip-flop
by the government as far as power policies are concerned have made it
difficult for investors to take decisions.
``Take this as an example at one time there were more than 200 MoUs signed up
for private power projects, the government provided counter guarantees for
eight projects, of which only three have taken off. Of this the Enron project
is already facing problems of nonpayment, says a senior source.
According to estimates drawn up by financial institutions like Power Finance
Corporation an organisation responsible for monitoring the financial health
of the SEBs and helping them with their reform programmes almost all the SEBs
have registered a negative turnover. Which is why the financing or
escrowability of SEBs across the country has been reduced to zero.
According to Union power minister Suresh Prabhu, the states are now
responsive to changes and reforms and the recent drive initiated by the
Centre to work with the state governments was expected to yield results.
But this sector has seen far too many committees which have failed to yield
much hope and it is only sheer determination of SEBs and political will that
can help this backbencher.

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

India Power Min: New Power Deal With Enron Unit Possible
By Himendra Kumar
Of DOW JONES NEWSWIRES

05/12/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- India is hopeful the Maharashtra State Electricity
Board's power purchase agreement with the U.S. energy company Enron Corp.'s
(ENE) Indian unit Dabhol Power Co. can be renegotiated and the DPC's dispute
over payments be settled, the country's federal Power Minister Suresh Prabhu
said.
In a weekend interview with Dow Jones Newswires, Prabhu said the very fact
that the DPC had come to the negotiating table for discussions on its power
price was an indication that Enron was keen to save its India project.
A special panel, set up by the Maharashtra state government, met with
representatives of the DPC, for the first time Friday and agreed to another
meeting May 23.
Friday's meeting lasted for more than two hours.
"I am of the view that a negotiated settlement is possible since the first
meeting of DPC with the Maharahtra state expert panel went off well. There
has been a positive response both from the DPC and the MSEB after the
meeting. The central government will also reciprocate by participating in a
meaningful dialogue. The next meeting will really decide on how it all goes,"
Prabhu said.
Earlier this week, in an e-mail to Dow Jones Newswires from Houston, Enron
Vice President John Ambler however, said, "While we have constantly
maintained that we are open to continuing a dialogue towards resolving
issues, this (Friday) meeting should in no manner be construed as an open
offer from DPC to renegotiate the terms of the contract."
The Maharashtra state government contends that the price paid for electricity
from the Dabhol power plant, India's biggest-ever foreign investment at $2.9
billion, is "unaffordable" and seeks to renegotiate tariffs.
A recent committee appointed by the government, the Godbole panel,
recommended that the power purchase agreement be renegotiated.
Dabhol has come under fire because of the relatively high cost of its power.
Critics object to Dabhol charging 7.1 rupees ($1=INR46.8825) a kilowatt-hour
for its power, compared with INR1.5/kwh charged by other suppliers.
The 2,184-megawatt DPC project in Maharashtra has been mired in financial
disputes after the Maharashtra State Electricity Board, its main customer,
failed to pay the December 2000 and January bills. The Godbole panel is
working toward lowering the DPC's power tariff and allowing the sale of
excess power to the federal government or its utilities. A restructuring of
the DPC's stakeholding may also be on the agenda.
The Maharashtra government has asked the committee to try to negotiate a
revised agreement within a month. The DPC currently operates a 740-megawatt
naphtha plant contributing about 0.7% to India's installed capacity. Enron
has maintained that work will be completed by the year-end in the second
phase of the Dabhol project that will add 1,444 MW to its capacity. The plant
will switch from naphtha to liquefied natural gas as a fuel source in 2002.
Texas-based Enron has a 65% stake in the DPC and is the project's largest
shareholder. Other shareholders include the MSEB with 15%, and General
Electric Co. (GE) and Bechtel Enterprises (X.BTL) with 10% each.
-By Himendra Kumar, Dow Jones Newswires; 91-11-461-9427;
himendra.kumar@dowjones.com

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

India: Talks begin on Dabhol issue

05/12/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

MUMBAI, May 11. OFFICIALS of Enron India today met the expert committee
headed by Dr Madhav Godbole to discuss the fate of Enron's Dabhol Power
Company.
Mr A.V. Gokak, Union Government representative, who was appointed only last
night, could not attend the meeting due to the short notice.
Lenders to the project who were to attend the meeting stayed away.
Instead, Mr A.G. Karkhanis, former Executive Director, Industrial Development
Bank of India, attended as observer on behalf of foreign and Indian lenders,
Mr Vinay Mohan Lal, Energy Secretary, told reporters here after the meeting.
When asked about Enron's reluctance to renegotiate, Mr Lal said: "They are
coming again on May 23. What does that mean?"
Though none of those present at the meeting was willing to give more details,
senior State Government officials had earlier told Business Line that the
State would be willing to discuss phase II only after a decision on the
rebate slapped on DPC.
"Basically our strategy will be to bring the Rs 401- crore rebate payable by
DPC to the centre-stage," the official said. "The company has not mentioned a
single word about the rebate in any of their letters to either the MSEB or
the State. And we, on the other hand, have discussed anything but the rebate
in our letters to DPC," he said.
Mr Wade Cline, Managing Director, Enron India, did not comment on whether the
company would issue the preliminary termination notice.
The Maharashtra State Electricity Board (MSEB) Chairman, Mr Vinay Bansal, and
Mr Lal had last evening briefed the Democratic Front constituents about their
stand vis-a-vis Enron.
They are understood to have told the political brass of the State that MSEB
does not need the second phase of the Dabhol power project.
They categorically said MSEB would not buy power from DPC-phase II, it is
learnt.
MSEB also reiterated its stand that DPC should adjust the dues owed by it
against the non-performance penalty.
Senior MSEB officials said the board had replied to the arbitration notice
issued by DPC and made its position clear. The board is of the opinion that
DPC should adjust Rs 213 crore - the December and January bills - against the
Rs 401 crore penalty for performance default.
The State Government also has backed the MSEB in its replies to the three
arbitration notices served on it. It has said that since MSEB does not accept
the charges - non-compliance with the power purchase agreement (PPA) -
leveled against it, the State is not bound to pay.
The Centre too is understood to have backed MSEB in its preliminary reply to
the conciliation notice from DPC.
Today's meeting was attended by Mr Cline, Mr Neil McGregor, President, DPC,
Mr Mukesh Tyagi, Vice-President, DPC, and Mr Sanjeev Khandekar, VP, DPC, and
Mr Mohan Gurunath, Chief Financial Officer, DPC.
Among the renegotiation panel members, Mr Deepak Parekh, Mr E A S Sarma and
Mr Kirit Parikh were also unable to attend. The next meeting is scheduled on
May 23, Mr Lal said.
Gokak nominated to panel: The Government has nominated former fertiliser and
telecom secretary, Mr A.V. Gokak, to the arbitration committee involving
Dabhol Power Company (DPC).
The Power Ministry had earlier mooted the additional solicitor general, Mr
Harish Salve's candidature for the job.
The conciliation process, however, has been hanging fire as the third
conciliator is yet to be appointed. Dabhol Power Company had written to the
Centre last month seeking six names for selection of a mutually acceptable
conciliator to kick- start the conciliation process.
DPC's letter to the Finance Ministry was seen in the context of the
substantial delay between the initiation of the conciliation process three
weeks ago and the finalisation of the conciliators. Soon after the
conciliation process was initiated, DPC decided to invoke political force
majeure and moved in for arbitration - a prelude to termination of the
project.
Our Bureau

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

India to allow 3rd party sale if DPC, MSEB jointly approach

05/12/2001
Press Trust of India Limited
(c) 2001 PTI Ltd.

Mumbai, May 12 (PTI) The Federal Government will allow sale of power to a
"willing buyer" if the Enron-promoted Dabhol Power Company (DPC) and
Maharashtra State Electricity Board (MSEB) will together approach the power
ministry with a concrete proposal for their 2,184 mw project in Dabhol.
"I will give whatever status they want, including a mega project one, if DPC
and MSEB jointly approach the Centre (Federal Government) for the same",
Indian Power Minister Suresh Prabhu told reporters here Saturday.
He said the Indian Government would extend its cooperation to the Maharashtra
government (western state) "in every way" to resolve the imbroglio between
MSEB and DPC.
When pointed out that both the state government and DPC were of the opinion
that federal power utility National Thermal Power Corporation (NTPC) should
buy the power, Prabhu said NTPC cannot do so as it was power selling entity
and not buying one.
"There is no question of NTPC buying power from the project since long term
power purchase agreements (PPAs) have been signed by NTPC with the buying
states", he reiterated.
Prabhu said the Indian Government would also try and find out potential
buyers of DPC power "if other states were willing to buy the same".
Earlier in his meeting with state chief minister Vilasrao Deshmukh, the
latter had suggested that NTPC sell the excess power over and above the
300-400 MW needed for the state from the 740 MW phase-I and soon to be
commissioned phase-II of 1,444 MW, to other needy states.
(THROUGH ASIA PULSE) 12-05 2001

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

LOCAL STORIES
DEFAZIO CALLS FOR STATE TO BUY PGE TO PROTECT RATES
DAVE HOGAN AND JEFF MAPES of the Oregonian Staff

05/12/2001
Portland Oregonian
SUNRISE
C01
(Copyright (c) The Oregonian 2001)

Summary: The suggestion generates little enthusiasm and critics suspect it's
motivated by the lawmaker's possible race for governor
"I believe this is an extraordinary opportunity and a way that we can
insulate almost a quarter of our population and a core of Oregon's business
community from the craziness that is going on in the energy wholesale
markets." -- U.S. REP. PETER DeFAZIO D-ORE.
The state of Oregon should consider buying investor-owned Portland General
Electric to help protect Oregonians from gyrations in the electricity market,
U.S. Rep. Peter DeFazio declared Friday.
Gov. John Kitzhaber reacted politely and said he'll explore the idea, but
others said it's a long shot because of political, financial and timing
factors.
Critics said the proposal appeared aimed more at attracting attention to
DeFazio's potential candidacy for governor than anything else.
Several companies already are considering buying the utility, but DeFazio
said state ownership could help keep PGE customers' electricity rates low and
generate profits that could help the rest of Oregon.
"I believe this is an extraordinary opportunity and a way that we can
insulate almost a quarter of our population and a core of Oregon's business
community from the craziness that is going on in the energy wholesale
markets," said DeFazio, D-Ore.
PGE serves about 725,000 retail customers, mostly in the Portland area, and
is owned by Houston-based Enron Corp. PGE's sale to Nevada's Sierra Pacific
Resources for $3.1 billion officially fell apart last month. Other possible
buyers include Northwest Natural and ScottishPower, which owns PacifiCorp.
While Enron and PGE officials declined to comment Friday, legislative leaders
showed no particular enthusiasm for DeFazio's idea.
"I appreciate his efforts, but I don't think it's the right idea at this
time," said House Speaker Mark Simmons, R-Elgin. He said the state already
has a package of bills aimed at spurring more energy production and
conservation.
Senate President Gene Derfler, R-Salem, said he'd be willing to sit down and
talk with DeFazio. "I would not just shut the door," he said, but he doesn't
plan to devote much work to the proposal. Derfler questioned whether state
government could run a utility as efficiently as a business.
DeFazio said a PGE purchase would offer several benefits. State ownership
would put control of PGE in local hands instead of those of a faraway
corporation such as ScottishPower. For PGE customers, state ownership would
provide some protection and stability in electricity rates. It also would be
a good investment that would pay for itself and perhaps pump revenue back
into the state's coffers.
The purchase could be financed with tax-exempt bonds sold by the state.
DeFazio said state Treasurer Randall Edwards had told him the idea was "in
the realm of possibility."
DeFazio's idea is an intriguing one and could provide some benefits, said Bob
Jenks, executive director of the Citizens' Utility Board, which represents
customers of investor-owned utilities such as PGE.
Jenks said the primary benefit would be that, if the state bought PGE, the
utility would be able to buy lower-priced electricity from the Bonneville
Power Administration, which is required to sell power at lower rates to
publicly owned utilities. However, a publicly owned PGE wouldn't be able to
buy the lower-priced BPA power for about five years because of electricity
sales contracts that already are in place.
And even if PGE were able to buy lower-priced BPA power, that wouldn't
necessarily translate to lower electricity bills for PGE customers, Jenks
said. In addition, he said it could increase rates for other publicly owned
utilities because the BPA has a shortage of cheap hydropower.
The state Public Utility Commission would have to approve any sale of PGE,
but outgoing PUC Chairman Ron Eachus criticized DeFazio's proposal, saying it
had the potential to increase rates both for PGE customers and for publicly
owned utilities. He also said it seemed designed to get political attention
for DeFazio's potential candidacy.
"I think we're in the political season where people are proposing grandiose
schemes that aren't very well thought out, and this seems to be one of
those," Eachus said.
DeFazio conceded that a high-profile proposal focused on a Portland-area
issue such as the ownership of PGE would be a good way for a candidate to
build support for a run for governor, but he said that had nothing to do with
his plan.
You can reach Dave Hogan at 503-221-8531 or by e-mail at
davehogan@news.oregonian.com.

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

Congressman suggests state buy PGE
By CHARLES E. BEGGS
Associated Press Writer

05/11/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SALEM, Ore. (AP) - Congressman Peter DeFazio on Friday proposed that the
state buy Portland General Electric as a way to hold down power costs.
The Democrat outlined his plan after presenting it to Gov. John Kitzhaber,
who said he would ask his energy advisers to analyze it.
PGE is Oregon's biggest electric utility, serving more than 700,000
customers. DeFazio said a state purchase of the company could insulate many
Oregonians from "the craziness in power markets."
DeFazio said the state could buy the company by issuing revenue bonds and
have the utility operate as a public power entity.
He said the purchase would give the state a diverse mix of transmission
rights along with hydropower, gas, coal and renewable energy sources.
"While I have not exhaustively researched the proposal, it does appear to be
feasible," said DeFazio, an opponent of electric deregulation.
Enron Corp., the Texas-based owner of PGE, is trying to sell the utility.
Sierra Pacific last month abandoned its plan to buy PGE for $3.1 billion,
citing increasing difficulties in the current market and the political
environment in the West.
Kitzhaber said he's not opposed to the idea of the state buying a private
utility, as long as it would benefit consumers.
DeFazio said PGE has been a profitable company, and putting it in public
ownership could give it preference over private utilities for the Bonneville
Power Administration's hydropower.
The congressman's suggestion wasn't welcomed by the Legislature.
"Thanks, but no thanks," said House Speaker Mark Simmons.
"Philosophically, I think it's the wrong approach," he said. "We have a
bipartisan package of bills dealing with the issue."
Among those are his measure to delay partial electric deregulation for large
businesses and a bill to speed up the process for siting temporary generating
plants.
Senate President Gene Derfler didn't reject the idea, but said the
Legislature doesn't have enough time in the current session to take on a job
like a utility purchase.

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


Do we want to position this as "let the market do it, cuz it can do it better
than Socalgas; but the market ain't going to do anything if you don't create
an hospitable investment climate?"


We are making a number of significant organizational changes.  These changes
are intended to accomplish four key objectives:

First, we need to realign all our wholesale businesses around the successful
business model developed over the last decade in North America and Europe.
This model relies on extensive physical and transactional networks built
around a relatively small strategic asset position.

Second, we need to significantly streamline corporate reporting
relationships.  Particularly with Joe Sutton,s departure, the ability to
directly manage the day-to-day activities of 15 independent business units
has become increasingly difficult.

Third, we need to accomplish these changes without, in any way, compromising
the ongoing profitability of all our businesses and without delaying or
hindering our effort to monetize a significant portion of our lower-yielding
asset positions.

And fourth, as always, we need to take advantage of the reorganization to
redeploy our talent into our highest value opportunities.

ENRON WHOLESALE SERVICES

Today, we are forming Enron Wholesale Services (EWS) which will consolidate
our global wholesale businesses.  The closer alignment of our wholesale
businesses will accomplish the following: (1) enhanced communication and
coordination across business units, (2) more rapid deployment of people to
higher valued opportunities, (3) more effective prioritization of
opportunities across the wholesale business, and (4) more rapid extension of
Enron,s wholesale business model and capabilities into new industries and
markets.

Enron Wholesale Services will include our current North American, European
(including Japan and Australia), Global Markets, and Industrial Markets
operations, and will be expanded to include Enron,s Net Works business unit
as well as a new unit ) Enron Global Assets.  In addition, Enron,s merchant
businesses outside of North America and Europe will be integrated into this
new structure as described below.

Mark Frevert, currently Chairman of each of our wholesale units, will assume
the role of Chairman and CEO of Enron Wholesale Services.  Greg Whalley,
currently Chairman and CEO of Enron Net Works, will join Mark in the Office
of the Chairman as President and Chief Operating Officer.

Providing further impetus for these organizational changes, several of our
international business unit leaders have elected to move into new leadership
positions:

Rebecca McDonald, currently CEO of Enron APACHI, will join EWS as President
and CEO of Enron Global Assets. Enron Global Assets will have responsibility
for managing all of Enron,s existing energy asset portfolio outside of North
America and Europe.  Joining Rebecca in the Office of the Chairman as COO
will be Jim Hughes, currently COO of Enron APACHI.  Rebecca and Jim will
report to the EWS Office of the Chairman.

Sanjay Bhatnagar, currently CEO of Enron India, has joined EBS as CEO for the
Middle East and Asia region.  Sanjay will be responsible for building our
broadband business in this region and the current EBS team in this region
will report to Sanjay.  In this role, Sanjay will report to the EBS office of
the Chairman.  In addition, Sanjay will continue to remain responsible for
Enron,s wholesale energy business in India and will transition this business
into Enron Global Assets in the near future.

Diomedes Christodoulou, currently Co-CEO of Enron South America, has joined
EBS as Chief Commercial Officer.  Diomedes will be located in London and will
focus his origination activities on global opportunities, with near term
attention to the wholesale and enterprise sectors.  Diomedes will report to
the EBS Office of the Chairman.

Jim Bannantine, currently Co-CEO of Enron South America, will be joining EES
to lead EES, commercial efforts outside North America and Europe.  In order
to ensure a smooth transition for our South American businesses and to
facilitate our asset sales activities, Jim will remain in South America for
at least the next several months and continue to serve as CEO of Enron South
America.  Throughout the transition, Jim will report to Cliff Baxter and to
the Office of the Chairman of Enron Wholesale Services.  Following the
transition, Jim will join EES.

In addition to these changes in our international asset operations
activities, we are making the following changes in our merchant wholesale
businesses and the commercial support functions:

Enron Net Works
Louise Kitchen will assume Greg,s previous responsibilities as President and
CEO of Enron Net Works, reporting into Mark and Greg.

Enron Americas
Concurrent with the transfer to Enron Global Assets of responsibility for
operating Enron,s South and Central America asset base, all trading,
marketing, and new asset development activities in these regions will report
into a new entity, Enron Americas.  Enron Americas will have responsibility
for all wholesale merchant businesses across North, Central and South
America.  Dave Delainey, President and CEO, and John Lavorato, Chief
Operating Officer will comprise the Office of the Chairman for Enron
Americas.

Enron Europe
The Enron Europe organization, which includes Enron,s businesses in Australia
and Japan, and Enron Metals, remains unchanged under the leadership of John
Sherriff, President and CEO, and Michael Brown, Chief Operating Officer.

Enron Global Markets
Enron Global Markets, under the leadership of Mike McConnell, President and
CEO, and Jeff Shankman, Chief Operating Officer, will continue to have
responsibility for Enron,s Middle East and LNG operations.  With the
exception of Ecoelectrica in Puerto Rico, all operating power plants and
associated personnel in the Caribbean and Central America will transfer to
Enron Global Assets.  Enron Global Markets will also continue to manage the
commodity businesses in crude and products, coal, weather, insurance,
equities, interest rates, foreign exchange, and agricultural products.

Enron Industrial Markets
Enron Industrial Markets, organization, under the leadership of Jeff McMahon,
President & CEO, and Ray Bowen, Chief Operating Officer, remains unchanged.

Commercial Support for EWS
The commercial support functions for EWS will remain with, and be managed by,
the individual business units.  We are creating no incremental overhead in
the creation of EWS, and in fact hope to reduce our operating costs by more
efficient utilization and sharing of resources across EWS.

To this end we have asked several people to take on an expanded role across
EWS in addition to their ongoing roles within their business units.  These
newly defined roles are as follows:

Mid and Back Office Operations ) Sally Beck will lead Mid and Back Office
Operations across EWS.  These services will become part of Enron Net Works,
with Sally reporting to Louise Kitchen and Rick Causey, Executive Vice
President and Chief Accounting Officer.  This alignment creates a coordinated
services organization with IT and e-commerce platforms to support the
wholesale businesses and to maximize opportunities to commercialize these
services.  Mid and Back Office services for all commercial activities will
continue to be organized with dedicated operations controllers responsible
for specific commodities and/or geographic locations.
Legal ) Mark Haedicke will serve in the role of General Counsel for EWS.
Regulatory and Government Affairs ) This function will remain organized on a
regional basis.  Rick Shapiro will support all EWS businesses operating in
the Americas, and Mark Schroeder, who is based in London, will support all
European and Eastern Hemisphere operations.  Rick and Mark will also continue
to support all other Enron businesses operating in their respective regions
and will continue to report to Steve Kean, Executive Vice President and Chief
of Staff.
Public Relations ) This function is also organized primarily on a regional
basis.  Eric Thode will have responsibility for North American activity,
Enron Net Works, and Enron Industrial Markets.  Jackie Gentle will continue
in her role for Enron Europe (including Japan and Australia) and John Ambler
will have responsibility for activity outside North America and Europe as
well as providing support for Enron Global Markets and Enron Global Assets.
These individuals will also continue to have a split reporting relationship
to Mark Palmer, Vice President of Communications.
Business Analysis and Reporting ) Wes Colwell will expand his role to cover
EWS reporting in addition to his current role in North America.

Attached for your review is an organization chart for Enron Wholesale
Services which summarizes the changes described here.  As this organization
continues to evolve we will keep you informed of any additional changes.

ENRON GLOBAL EXPLORATION AND PRODUCTION
AND ENRON WIND

 As part of our company-wide initiative to examine our assets and investments
around the world, we are considering a variety of options with respect to
EGEP and EWC.  As a consequence, we are putting these businesses under Cliff
Baxter,s direction.  Jeff Sherrick, CEO of EGEP, and Jim Noles, CEO of Enron
Wind, will report to Cliff.

CORPORATE STAFF

 We are consolidating the corporate staff functions: Human Resources,
Government Affairs, Public Relations/Communications and Administration.  In
that regard, Cindy Olson, Executive Vice President of Human Resources and
Community Relations, will report to Steve Kean, Executive Vice President and
Chief of Staff.

COMMITTEE STRUCTURE

 In light of the increased leadership opportunities created by Enron,s
growth, the Executive Committee will be expanded to include more of our
business unit leaders.  The primary role of this committee will continue to
be the communication of relevant information across Enron,s businesses and
the coordination of activities across those businesses.  We will also be
drawing on this group to lead company-wide initiatives such as the
performance review process and evaluation and creation of new businesses.
The Executive Committee membership is shown on the attached list.

 We are also forming a new committee ) the Enron Corporate Policy Committee.
This group will be responsible for overall corporate policy, personnel
management policy and corporate strategy.  The Enron Corporate Policy
Committee membership is also shown on the attached list.

 We are confident that these changes will align our talent and our capital to
our highest return opportunities.  Please join us in congratulating and
supporting all of these individuals in their new roles.


John,

This is the update on what I have done for the LNG transactions.

1. I was not involved in the LNG ship project. I shall  read the DASH
and give you my comments. Without looking at the details, I think that the
decision
to charter a tanker removes one significant risk we have at the Elba Island
project (please, see point 2).

2. Elba Island. I am working with Doug Rotenberbg, Brad Hitch, Scott Earnest
(Sally Beck's organization) and RAC to set up the book for the Elba Island
transaction. The next step
will be to expand the book to capture all the Enron's LNG-related  positions
in one place and
to look for natural risk offsets and possible hedges. A working group is
meeting to close a few
remaining gaps  tomorrow (Tuesday) at 8:30.

A few comments on the book design and my view of the project:

a. The current thinking is that LNG will be sourced for the Elba Island
facility
by buying marginal cargos on the fob basis. Marginal cargos will represent
supply from excess capacity that has not been committed under long-term
contracts or became available due to some short-term frictions.

The fob cargos are typically selling at a significant discount to the
long-term
contract prices. The economics of the deal, as represented by the book we are
setting up, will reflect the assumption that not only we can locate marginal
cargos
but that we shall be able to do it on a regular basis, arranging shipping and
coordinating
the facility schedule and natural gas transactions in the US. In other words,
we have a significant logistical and operational risk in this transaction.

b. The transaction will cover the period of 17 years (with an extension
option of
5 years). Even if we can lock-in the LNG volumes over this time period, we
have no ability to lock-in the other side of the spread (US gas prices) for
such a long tenor. This is
essentially a tolling transaction with exposure to the LNG - nat gas spread
and
I would not recommend locking-in only one leg of the spread.

One solution would be to  cover, let's say, 50% of he LNG volumes for the
first
5 years and lock-in the nat gas side on the US market side.

c. The book we are setting up will be based on many managerial assumptions
regarding sources of LNG, shipping rates, schedules, etc. I would set up a
big prudence reserve
in case we mark it to market.

d. My group will work on valuation of some options we have in the Elba Island
deal
(that are good for Enron) and on the hedging strategy for the LNG positions.
Long-term LNG contracts are typically based on the Japanese Crude Cocktail
that
correlates very well with Brent.

Vince

John Sherriff
05/14/2000 01:40 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Lauren Urquhart/LON/ECT@ECT
Subject: LNG May 19 decision

Vince

I haven't spoken to you for awhile but hope the world is treating you well.
Anyway with Greg moving to his
new role I have (I hope only temporarily) staff trading oversight for the
Eastern Hemishere plus LNG.

I understand that your group is taking a first cut at developing curves for
LNG and LNG ship values.   I also understand
that another LNG ship decision is on the dockets for May 19 (not very far
away).  Anway I understand this
is a big decision but I still have gotten very little info yet.  Can you
please let me know where you stand now?

I will ask my assistant Lauren to set up a time that I can speak with you in
the next couple of days and if you
have anything for me to review before then she can get it faxed to me as well.

Look forward to connecting with you Vince.

John


Start Date: 1/28/02; HourAhead hour: 18;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012818.txt


Karim Rashid Inc.
357 W 17th Street
New York NY 10011
p 212 929 8657
f 212 929 0247

www.karimrashid.com

----------
From: Jennifer Keller <jkeller@surfacemag.com>
Date: Wed, 09 May 2001 11:47:53 -0700
To: Karim Rashid <karim@karimrashid.com>, David Shearer
<david@totemdesign.com>, Cathryn Davis <cdavis@magnetcom.com>
Subject: Invite for T.A.G TEAM New York

Hello,

Attached please find the only kind of invite we have left--(we mailed to the
guest lists you provided a week ago.) Forward this to whomever you wish.

<< When printing select the LANDSCAPE format>>

 - invite jpg


Thanks, Kevin
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Don Baldridge indicated that they would prefer to front-load the re-priced swap, with a higher price next year and a market-based price for '03-'05 and no lump sum payout this year.  This structure probably works better for us also due to the increased focus on funds flows.

I also have John Disturnal (ENA Canada) pricing up an at the money swaption for '03-'05, which might be an attractive hedge for Crestone.  Don is going to run some traps on his end and get back to me this afternoon.

T

 -----Original Message-----
From: 	Whitt, Mark
Sent:	Friday, September 14, 2001 7:45 AM
To:	Tycholiz, Barry
Cc:	Harrison, Tyrell
Subject:	RE: Crestone Restructure

Tyrell was to follow up with Crestone yesterday.  I do not know where they stand but I know we have been working on structures and they need to do something before the end of the quarter.
Tyrell, can you give us an update?

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Friday, September 14, 2001 7:17 AM
To:	Whitt, Mark
Subject:	Crestone Restructure

Mark, Good Morning.

Any updates on Crestone structure ( re-price of deal), also, Paul discussed the Northern Border deal with potentially the producers underpinning... pls keep me posted on status.

BT


The NYISO is reserving hours beginning 12:00 and 17:00 in the January 26,
2002 Real-Time Market.

In addition, the NYISO is reserving hour beginning 18:00 in the January 26,
2002 Hour-Ahead locational reserve market.

Prices in the January 27, 2002 Day-Ahead Market are correct.

Please note that Market Monitoring will no longer be reserving prices due
to ECA-B.  Code modifications were made on December 20th to incorporate
into the Real-Time price, the BME price in the presence of congestion.  The
incorporation is now an automatic process that is prescribed by the NYISO
tariffs.  This message will appear in price reservation announcements
through January 31, 2002.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm

---
You are currently subscribed to nyiso_tie as: benjamin.rogers@enron.com
To unsubscribe send a blank email to leave-nyiso_tie-628650Q@lyris.nyiso.com


Here's the latest info. on unit #26 at Sublette.

Jerry

 -----Original Message-----
From: 	Boothe, David
Sent:	Thursday, January 10, 2002 9:35 AM
To:	Bonnstetter, Mike; Burrows, Sid; Good, Chuck; Graves, Jerry; Keller, John R.; Kilgore, Ken; Noyes, David; Pribble, Dan; Smith, Tony; Stephens, LD; Sublette, Team
Subject:	Latest update on Sublette 26

 Sublette 26 made test on the third try last night. All area's of the test were successful. The unit will ship to Sublette Sunday and the Solar Rep's will be on sight Monday morning to install the unit. We will have Lormar Reclamation on sight Tuesday t clean the oil reservoir, piping and oil itself. Team Rep (Mike Burnham) made it home late last night and is back on sight at Sublette making the final arrangements for the installation process. I want to thank Mike for all his efforts throughout this process. He did an excellent job.


Sean Boyle has now been banned.

 -----Original Message-----
From: 	Information Risk Management,
Sent:	Thursday, May 31, 2001 12:39 PM
To:	Huble, Amanda
Subject:	Re: Complete (lb)

User added to group requested.

Thanks,
Leola
Corp IT Security

From:	Amanda Huble/ENRON@enronXgate on 05/31/2001 10:06 AM
To:	Information Risk Management/HOU/ECT@ECT
cc:
Subject:

Please add the user

Sean Boyle

to the group Web_GasFundyBanned.

Thank you,

Amanda K. Huble
Gas Fundamentals
Phone: (713) 853-4384
Pager: (877) 482-0772
Fax: (713) 646-8453


SHirley,

Can you, please, contact her regarding the time of the meeting?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/31/2000
11:50 AM ---------------------------

"Faiz, Soussan" <faizs@texaco.com> on 03/30/2000 02:31:18 PM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: Houston visit

Dear Vince,

Greetings from NY & hope all is well.  As you may recall from the ROG real
options conference in NY, I'd indicated the opportunity to visit with you
next time I'm in Houston.  I'll be there during 4/18-4/21 & wonder if we can
pls meet on Wed. 4/19 in your offices.  Would appreciate it if you can pls
let me know whether you're available then (I'm flexible on the schedule
particulars).  If not, pls let me know whether 4/18 (afternoon), 4/20
(afternoon), or 4/21 (morning) will work for you.

I really look forward to the opportunity & would appreciate to learn more
about how you've instigated the real options thinking in Enron and
especially its integration within the organizational & incentive matters.

Many thanks,
Soussan Faiz
Mgr. of Global Valuation Services
Texaco Inc.
(914) 253-4187


To all with email addresses circulated by David Anderson of PG&E in his
email of June 19 at 9:56 a.m. in this proceeding, attached is an Acrobat
version of:

PROTEST OF CALPINE CORPORATION
TO APPLICATION FILED BY PACIFIC GAS AND ELECTRIC COMPANY

filed today.  The paper version being served by first-class mail has full
letterhead and signatures.

 <<Calpine Protest 062001.PDF>>

Barbara L. Nielsen
Paralegal
Davis Wright Tremaine LLP
One Embarcadero Center, Suite 600
San Francisco, California  94111-3611
415-276-6553 direct - 415-276-6500 office-wide
415-276-4853 direct facsimile - 415-276-6599 office-wide facsimile
barbaranielsen@dwt.com

 - Calpine Protest 062001.PDF


I will be working on both documents

I told him I would work on both (take the Financial Services Agreement as far
as I could, with him filling treasury info; and the CA).  He has two
suggestions as to the form of CA and they are:

1. Since Peoples will want our employees to sign a similar agreement can we
make it sort of Bilateral to include Peoples (for the sake of having two CA's
per employee).  What do you think about both ENA and Peoples being defined as
("Protected Party")

2. Would like to have the term until October 4, 2004 if possible.

What room are you in?  I'm in 511.

K-


sticky wicket (STIK-ee WIK-it) noun

   A difficult, awkward or uncertain situation.

[From cricket, when the ground is partly wet, resulting in the ball
bouncing unpredictably.]

   "British Prime Minister Tony Blair, maneuvering his way through the
   sticky wicket of the Middle East, wanted to stress the need to maintain
   an international coalition."
   William Safire, Fog of War: Von Clausewitz Strikes Again, The New York
   Times Magazine, Nov 18, 2001.

Somehow I wasn't born with the sports gene. Sure, I've played an innings
or two of cricket but that's about it. Since I'm never one to listen to
running commentaries on radio or watch live telecasts on TV, my exchange
with other sports enthusiasts typically goes like this:

Person in the checkout line: So what do you think of last night's
game between the Yankees and the Flying Ducks?
I: Yes.

Well, this sports-challenged temperament doesn't have to stop one from
using the words of sports. There are countless terms from the world of
sports we use metaphorically every day, whether it's when we exhort
someone to "be a sport" or when we chatter about the economy, saying
that it's not dead "by a long shot".

This week's AWAD brings together a few words from the world of cricket,
football, baseball, and other games and sports, that are used in real
life as well.                                                     -Anu

Today's AWAD is sponsored by NannyTax, Inc., providing tax compliance
services to employers of domestic help. For useful information and
a free consultation, please visit: http://www.nannytax.com
AND
Eastern Informatics, providers of information technology solutions to
the healthcare enterprise. Visit us at http://www.easterninformatics.com

............................................................................
Perfection is attained by slow degrees; it requires the hand of time.
-Voltaire, philosopher (1694-1778)

This is a reader-supported publication. If you'd like to contribute,
visit http://wordsmith.org/awad/friends.html . Send your comments to
anu@wordsmith.org. To unsubscribe, subscribe, change address, or to send
a gift subscription, visit http://wordsmith.org/awad/subscriber.html

Pronunciation:
http://wordsmith.org/words/sticky_wicket.wav
http://wordsmith.org/words/sticky_wicket.ram


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/27/2000
08:52 AM ---------------------------

RealPlayer News <news@real-net.net> on 03/24/2000 07:04:32 AM
To: vkamins@ect.enron.com
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: NEWS *Boost Your PC's Performance*

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++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
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You are receiving this email because you downloaded our
RealPlayer and indicated a preference to receive product
news, updates and special offers from RealNetworks.

To remove your name from future email communications,
simply visit the following URL and click on the Remove
button:
==> http://ml.real.com/mlr/vkamins@ect.enron.com

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or products listed herein are trademarks or registered trademarks
of their respective owners.


I will still kick your ass anyday of the week - dirtbag!  I have done three
times as many races as you virginboy, so put that in your pipe and smoke it.


John,

I wouldn't ordinarily send these past you but are you OK with below for
Calgers guy in San Fran? The numbers seem ok given it is equity rather than
cash.

David

Amy FitzPatrick
01/22/2001 05:26 PM
To: David Oxley/HOU/ECT@ECT
cc:
Subject: Re: Employment Agreement - Samuel Wehn

He is a technical Senior Director (promoted from Director year-end, ranked
Superior) working in the San Francisco office - his main responsibility is a
power plant developer.

Let me know if you need more information!

Thanks and have a great day.
Amy

David Oxley
01/22/2001 02:47 PM
To: Amy FitzPatrick/PDX/ECT@ECT
cc:
Subject: Re: Employment Agreement - Samuel Wehn

What does he do?

Amy FitzPatrick
01/22/2001 04:18 PM
To: David Oxley/HOU/ECT@ECT
cc:
Subject: Employment Agreement - Samuel Wehn

David -

Can you please advise the status of this agreement?

Thanks!
Amy
---------------------- Forwarded by Amy FitzPatrick/PDX/ECT on 01/22/2001
04:30 PM ---------------------------

Amy FitzPatrick
01/11/2001 03:23 PM
To: David Oxley/HOU/ECT@ECT
cc:
Subject: Employment Agreement - Samuel Wehn

David -

Please see revised - Chris wanted to add $50,000 equity on 1 year anniversary.

Thanks!

Amy

---------------------- Forwarded by Amy FitzPatrick/PDX/ECT on 01/11/2001
05:34 PM ---------------------------

Amy FitzPatrick
01/10/2001 09:07 AM
To: David Oxley/HOU/ECT@ECT
cc:
Subject: Employment Agreement - Samuel Wehn

David -

Chris would like to offer Sam Wehn an employment agreement.

Can you please review the attached and let me know if you approve?  Also,
does Lavo approve employment agreements for Chris or does Delainey?

Thanks!
Amy


Dear Power Outage Database Customer,
Attached you will find an excel document. The outages contained within are forced or rescheduled outages. Your daily delivery will still contain these outages.
In addition to the two excel documents, there is a dbf file that is formatted like your daily deliveries you receive nightly. This will enable you to load the data into your regular database. Any questions please let me know. Thanks.
Greg Elliott
IIR, Inc.
713-783-5147 x 3481
outages@industrialinfo.com
THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY NAMED ABOVE.  YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION, OR COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS E-MAIL IN ERROR, PLEASE DELETE IT.
 - OUTAGE.dbf
 - 012202R.xls
 - 012202.xls


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We are currently upgrading out networks at this time.  We apologize for
any errors, delays, or inconveniences that may result from network
problems.  Thank You

In this issue: Feature: Reconciling the Telecom Money Pit.  News
Highlights: Calpine cuts FY02 estimates and places US$2 billion worth of
projects on hold.  All the news, commentary, and earnings reports, plus
price performance and valuation charts.

Best regards,
Cary, Peter and the Team


fyi.  Please call ME.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/29/2000 10:12
AM ---------------------------

Kay Mann
11/29/2000 10:11 AM
To: "Brashear, Charlotte" <cbrashear@velaw.com>
cc:

Subject: Re:

I'll have to ask Neil for Michael's SS#.  I don't have it on me.

I know Neil's boss and his boss' boss will have parties.  I think one in on
the 16th and the other on the 30th (stupid day for a party).  Are those good
days for you? I just can't get interested in going to the Enron parties - too
many people.  We could really stand some shopping time (bah humbug), also.

Kay

"Brashear, Charlotte" <cbrashear@velaw.com> on 11/29/2000 09:50:45 AM
To: "Mann Kay (E-mail)" <kmann@enron.com>
cc:

Subject:

   When you have a chance, please send me Michael's Social Security
number.

   I'll be glad when you and Neil start going to some Christmas
parties.

   Thanks.
          ++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You


Revision 1:

 - WorldHungerAssignmentOct18Rev1.doc


Sorry for the late notice but I was just informed that Jen Fraser has
cancelled her brown bag presentation for today from 12 to 1.


> >Heart Doctor & Mechanic
> >
> >A mechanic was removing a cylinder head from the motor of a
> >Harley, when he spotted a world-famous heart surgeon in his
> >shop. The heart surgeon was waiting for the service manager
> >to come take a look at his bike. The mechanic shouted across
> >the garage, "Hey Doc can I ask you a question?"
> >
> >The famous surgeon, a bit surprised, walked over to the
> >mechanic working on the motorcycle.
> >
> >The mechanic straightened up, wiped his hands on a rag and
> >asked, "So Doc, look at this engine. I also can open hearts,
> >take valves out, fix 'em, put in new parts and when I finish
> >this will work just like a new one. So how come I get a
> >pittance and you get the really big money, when you and I
> >are doing basically the same work?"
> >
> >The surgeon paused, smiled and leaned over, and whispered
> >to the mechanic...
> >..."Try doing it with the engine running!"
>
>
> _________________________________________________________________
>
>
 -


<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">

<META content="text/html; charset=iso-8859-1" http-equiv=Content-Type>
<META content="Microsoft FrontPage 4.0" name=GENERATOR>

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---------------------- Forwarded by Randall L Gay/HOU/ECT on 09/18/2000 01:53
PM ---------------------------

"The Associate and Analyst Programs" <axisteam@enron.com>@enron.com> on
09/15/2000 06:14:43 PM
To: "rgay@enron.com" <rgay@enron.com>
cc:
Subject: IMPORTANT NOTICE: YEAR-END PRC PREPARATION

Good afternoon Supervisors of Associates and Analysts:

As you may be aware, the Year-End PRC for 2000 is quickly approaching and
your assistance is needed in ensuring a smooth process.  It is imperative
that the
Performance Management team obtains the correct reviewing supervisor for the
Associates and Analysts in order to facilitate the PRC process.  The reviewing
supervisor is the person that will provide the Associate/Analyst their
year-end
individual performance feedback.  You will be considered the reviewing
supervisor if you employ the individuals listed below as of October 1, 2000.

A comprehensive list of the Associates and/or Analysts currently in our
database
indicates that you are the supervisor of the individuals listed below.  Please
examine the list and reply with "No Changes" if the data is correct.  If
Analyst in your response. If you will not be the reviewing supervisor as of
October 1st, please let us know so that we may follow up with the Associates
and
Analysts.

In order to meet the Performance Management Team's deadline, your reply is
needed by Friday, September 22, 2000. We appreciate your assistance in this
matter.

Our records show the following Associates and Analysts under your PRC review.

Joana  Ryan, Associate
Tracee  Bersani, Associate

Thanks in advance for your cooperation.   Please feel free to call Shelly
Butler @
713-853-4584 or Jana Giovannini @ 713-853-9233 with any questions you might
have.


Teco Tap       29.167 / HPL IFERC

LS HPL LSK IC       40.000 / Enron


not lately

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 19, 2001 2:31 PM
To:	Rybarski, Amanda
Subject:	RE:

yes i am

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Monday, November 19, 2001 2:31 PM
To:	Maggi, Mike
Subject:	RE:

you are no fun at all!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 19, 2001 2:30 PM
To:	Rybarski, Amanda
Subject:	RE:

i cant because i need eol to beep when it trades

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Monday, November 19, 2001 2:29 PM
To:	Maggi, Mike
Subject:

If you don't like the noise, mute your computer.


The report named: East Power Desk Daily Position Report <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=14&report_name=East+Power+Desk+Daily+Position+Report&category_cd=5&category_name=EAST&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=10/19/2001>, published as of 10/19/2001 is now available for viewing on the website.

(Revision: 2)


Tanna,

Thanks for your help on the Goldman Sachs and Deutsche negotiations.  If you
could keep me posted on the timing of the Deutsche agreements being put in
place that would be really helpful.  I also have another quick request and
that relates to the ISDA Master Agreement with FUNB.  I have spoken to
Delene Travella at FUNB.  They are negotiating an ECTRIC Schedule with you
in Houston which they want to finalise before commencing EnronCredit.com's
negotiation.  Can you give me an update on where this negotiation stands and
how long before it is likely to be finalised?

Many thanks,

Clare Godson

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now that's funny.  hey, we're going to tahoe.  maybe if things work out, we
can stop by and say hi on sunday on the way back, if we get back early
enough.


Attached is the presentation I distributed during this morning's meeting.

It is best viewed in color.

Raul


The following meeting has been arranged:

  Date:  August 4, 2000
    Friday

  Time:  1:00 pm - 2:30 pm

  Location: EB 3314

  Topic:  HLP

  Attendees: Mark Frevert
    Dave Delainey
    John Lavorato
    Wes Colwell
    Tim Detmering
    Brian Redmond

If you have any questions/conflicts, please feel to call me.

Thanks,

Kay 3-0643


This is a message from Kerry.

I just converted and moved Larry Campbell (lcampbe) to the W2K server.  He
uses ESIS.  I successfully converted the tables and have the links corrected
(logged in as kgramse), however Larry cannot use the system.  I received a
message while logged in as Larry stating that the data/application was
"Read-Only" when I attempted to re-link the tables.

Please check the permissions on GTROS-FS01P\APPSRW

Thanks,

Kerry


---------------------- Forwarded by Don Miller/HOU/ECT on 11/21/2000 03:36 PM
---------------------------

Don Miller
11/21/2000 11:48 AM
To: Jinsung Myung/Corp/Enron@Enron
cc:
Subject: Caledonia Directions

---------------------- Forwarded by Don Miller/HOU/ECT on 11/21/2000 11:47 AM
---------------------------

Ross Newlin@EES
11/21/2000 11:23 AM
To: Don Miller/HOU/ECT@ECT
cc:
Subject: Caledonia Directions

Per your request
---------------------- Forwarded by Ross Newlin/HOU/EES on 11/21/2000 11:23
AM ---------------------------

Cecilia Ramirez
11/21/2000 10:52 AM
To: Ross Newlin/HOU/EES@EES
cc:
Subject: Caledonia Directions

Caledonia
Contact is:
Pat Cathers - Plant Manager  (662) 356-4109  office  (662) 386-2284 Cellular
Ron Dennison - Plant Supervisor  (662) 386-1125
Plant Address: 2278 Caldwell Rd. Caledonia, MS 39740

Driving Instructions:
1.  Fly to Birmingham, Ala
2.  Drive to Columbus, Miss
3.  From Columbus, Travel north on highway 45. Your turn-off is about 10
miles north of Columbus
4.  From the Tupelo/Aberdeen or Points North,  Travel south on hwy 45.  Your
turn off is about 5-7 miles
     south of Hamilton.
5.  The turn off landmark is a BP station located on the east side of the
highway. Turn onto Caledonia-Koklola Springs Road
6.   You will immediately Encounter a Y in the road.  Take the right hand Y
onto spruill Road.
 **Note:  There may be a sign that identified the road as Ridge Road, however
the maps say it is Spruill
7.  Travel 1/2 miles and take a left on Spruill and across the railroad
tracks.
8.  Follow Spruill to the end and turn left onto Wolf road
9.  Take the first right onto Williams road
10. Follow Williams To Caldwell  (Williams will turn into Caldwell)
11.  Follow Caldwell Around the substation to the plant (entrace on the
right)


Hi Mike

Dede and my husband and I are all bringing our racquets hoping to get in some
tennis on either or both Wed and Thurs? Can you join us?  Let me know.