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--------------------T O P S T O R I E S--------------------

Top Stories (April 3)

WHITE HOUSE MOVING QUICKLY ON ENERGY POLICY BLUEPRINT
The White House energy policy task force headed by Vice President Dick Cheney
is moving as rapidly as possible to develop its recommendations and will
issue its final blueprint no later than June, an administration official said
Tuesday.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
04/03/eng-djn/eng-djn_150044_69_3577501340769

AMEREN EXPECTS 676-MW OF NEW ILLINOIS POWER ONLINE BY SUMMER
Ameren Corp.'s nonregulated power affiliate expects to bring about 676
megawatts of new natural-gas-fired power in Illinois online this summer, a
company spokesman said Tuesday.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
04/03/eng-djn/eng-djn_180055_91_8908775527962

DOMINION, PEOPLES 750-MW ILLINOIS POWER PLANT DUE UP IN SUMMER
A 750-megawatt natural gas-fired power plant near Chicago planned by Dominion
Resources Inc. and Peoples Energy Corp. will start operations this summer as
planned, a Dominion spokesman said Tuesday.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
04/03/eng-djn/eng-djn_200104_36_9225209020078

CON ED, OLD DOMINION TO BUILD 1,020-MW POWER PLANT IN MARYLAND
Old Dominion Electric Cooperative and Con Edison Development, an unregulated
subsidiary of Consolidated Edison Inc., will jointly build a 1,020-megawatt
natural-gas-fired peaking power plant in northeast Maryland.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
04/03/eng-djn/eng-djn_210102_202_823272445239

LOUISIANA'S RETAIL ELECTRIC PLAN DRAWS WIDESPREAD CRITICISM
Widespread opposition has been expressed to a proposal from the staff of the
Louisiana Public Service Commission to introduce electric deregulation in
early 2003, but only for large industrial power consumers.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
04/03/eng-djn/eng-djn_220051_125_552907767706

OHIO UTILITY WATCHDOG SAYS ELECTRIC COMPETITION SLOW, BUT STEADY
A state-appointed advocate for Ohio utility rate-payers said Tuesday that
electric competition has been slow to develop in the state, three months
after Ohio opened markets to retail competition.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
04/03/eng-djn/eng-djn_220103_55_0384336779825

----------------------------------------------------------------------
DOW JONES NEWSWIRES
----------------------------------------------------------------------
Access stories online at:
http://199.97.97.79/IMDS|PMADJN0,PMADJN1,PMADJN2,PMADJN3,PMADJN4|index

Ohio Util Watchdog Says Elec Competition Slow, But Steady

FERC Appointees Wood, Brownell Meet With US Senators

Louisiana's Retail Elec Plan Draws Widespread Criticism

Con Ed, Old Dominion To Build 1,020-MW Power Plant In Md.

Dominion, Peoples 750-MW Ill. Pwr Plant Due Up In Summer

EU Ministers Seek To 'Pressure' US On Kyoto Protocol

Ohio Pwr Coop Sues Cinergy, Alleges Anticompetitive Move

Iowa State House Passes Incentives For New Pwr Plants

Nextel To Fund Export Unit's Cash Needs This Year >NXTL

Florida Power & Light Sr Sec Confirmed Aa3 By Moody's

6 Entergy Units Outlook Now Stable Vs Positive - Moody's

Ameren Expects 676-MW Of New Ill. Power Online By Summer

PRESS RELEASE: Moody's Outlook For FPL Group Is Stable

PRESS RELEASE: Moody's Outlook For 6 Entergy Units Stable

TXU Europe Sells 19.2% Of Cantabrico To Adygesinval

Montana Power/10-K Delay -2: Recorded 3Q $10M Provision

White House Moving Quickly On Energy Policy Blueprint

Montana Power Reviewing Acctg For Previous Loss Prvsn

Buffett Reveals Holdings In Gap, Costco, GPU Inc. >GPS

Avon Energy/GBP360M Eurobond -2: Reoffer 99.814

PRESS RELEASE: S&P Rates Avon Energy GBP360M Issue BBB+

Avon Energy Prices GBP360M Eurobond; Gilts +1.68

Avon Energy GBP360M Bond Issue Gets BBB+ Long Rtg: S&P

Entergy Estimate -2: First Call 1Q Net View 38c/Shr >ETR

Entergy Sees Yr Operational Earns $3-To-$3.20 A Share

Entergy Puts 1Q Operational Earns 10%-15% Above Views

FREE TRIAL: For a free trial of the Dow Jones Energy Service go to
www.dowjonesnews.com, and click "create account," or call
1-800-223-2274.

----------------------------------------------------------------------
N A T I O N A L
----------------------------------------------------------------------
Access stories online at: http://www.powermarketers.com/pma-nat.htm

Rising Energy Costs Prod State to Cut Use Agency Officials Say Savings of
$36.5 Million Are Possible Each Year.

Energy Measures Run Low on Steam Few May Pass: Lawmakers Have Second Thoughts
About Bills

Berkshire Filing Shows Reshuffling Omaha-Based Conglomerate Buys Stake in
Utility And Tells of Other Changes in Its Portfolio

Utah Businesses Reeling from Higher Energy Bills

Cpuc Officially Exempts Bart from Rolling Power Outages

Power Supplier Files Lawsuit Against Pacific Gas And Electric Company;
Dynamis, Inc. Seeks to Suspend Power Purchase Agreement in Order to Provide
Power to Grid

Reliant Energy Reduces Stake in Itron to 8.38% (Itri)

Henwood Releases 'Northeast Markets: Survival of the Fittest' As Part of Its
Comprehensive Suite of Northeast Power Market Advisory Services

Luscar Re-Establishes Coal Valley Sales to Ontario Power

Energy Ventures Inc. And Sre Controls Inc. Agree to Produce A Ready-to-Market
Direct Methanol Fuel Cell System

Nuvera Fuel Cells Demonstrates Natural Gas Fuel Cell Powering Verizon

Peace Software Teams with Exolink to Deliver Efficient B2b Solutions for
Energy Retailing

Clayton Williams Energy Announces South Louisiana Well Tests And 3-D Seismic
Agreements

Repeats: Energy Volume And Open Interest Totals-APR 3

Tiny Energy CO-OP Sues Cinergy Corp. (Cin) for $26 Million, Alleging
Conspiracy to Scuttle Choice Program

Fpl Expects Sufficient Generation to Meet Summer Demand, Files Annual 10-Year
Update with Florida Public
Service Commission

CMS Energy Announces Regulatory Approval for Expansion of Its CMS Trunkline
LNG Terminal

Environmental Power Corporation Not to Declare A Quarterly Dividend

Sempra Energy Solutions Powers 'Arena of the Year'Energy Services Company
Recognized for Its Contributions to The Award-Winning Venue

Wssc Taps Constellation Energy Source to Develop Energy Savings Program

Applying a Bit of Energy

Enron, JC Penney in energy management deal; to buy 600 mln usd of commodities

Allen Introduces Measure to Cut Power-Plant Emission

California Crisis Underscores Need for Hedging Energy Price Risk

Retail Electric Choice: What It Means for Psnh Customers

New Energy Pricing Tool Needed to Stave Off Capital Starvation for Energy
Companies

Massey Energy Company's Martin County Coal Preparation Plant Reopens

Public Power Renewable Energy Action Team Launched; Non-Profit Center for
Resource Solutions Assumes Management Responsibilities

GE Power Systems Makes Acquisition to Expand Air Emissions Testing And
Monitoring Services

Former Bush aide sees more nuclear power key to avoiding deeper energy crisis

Electronic Energy Trading Begins to Take Hold

Ohio Consumers' Counsel Issues Status Report on First Three Months of Retail
Electric Competition in OhioDespite Few Choices for Electric Consumers,
Education Efforts Must Continue

Enron And Jcpenney Announce Long-Term Energy Management Agreement

Sempra Energy Solutions Picks Excelergy's Energy Software to Handle
Restructuring Energy Markets
WorldwideExcelergy's New Complex Billing Component Helps It Beat Competing
Vendors to Provide Software to One of World's Largest Energy Companies

Montana Power Announces Delay in Filing Form 10-K

Gemini Energy Corp: Ultra Petroleum Corp - Gemini Updates Warbonnet
Development

Sempra Energy Solutions Picks Excelergy's Energy Software to Handle
Restructuring Energy Markets Worldwide

Landlords Unite on Energy Issue

Media Advisory - Ontario Power Generation, Nuclear Report Cards Released

Anadarko Reports Outstanding Central Texas Well Results; Perseverance
Uncovers New Upside Potential And Valuable Natural Gas

Tnmp Customers May Now Choose Wind Energy Option

Utc's International Fuel Cells to Power World's Largest Fuel Cell Installation

Citizens Gas & Coke Utility Selects Planalytics' Weathernomics Gas Buyer to
Help Manage Natural Gas Buying And Hedging

Emex Corp. Plans to Build Natural Gas Synthesis Plant, Negotiating $100
Million Financing -- Company Plans to Build Five Natural Gas Synthesis Units

As California Braces for Summer Power Shortages, CNN Newsroom Airs Powering
The Planet

Motorola Energy Systems Group Teams with Nexergy, Inc. to Provide A Complete
Portfolio of Energy Systems Based on Lithium-Ion/Polymer Technology to An
Expanded Customer Base of Original Equipment Manufacturers

Boost for 45,000-Homes Wind Farm

Bush Trades Global-Warming Concerns for Energy Profits

Falcon Acquires Hill-Lake Natural Gas Storage Facility

Green Mountain Energy Company Announces 100% Clean Wind Power Product for
Texas Electric Customers

Deadline Looms for Richland Power Deal

GE Power Systems Acquires Programma Electric Ab

Us: First Residential Earthsafe(Tm) Solar Electric System Installed

Myutility Inc. Acquires Utility.Com's Assets; Energy Information And
Efficiency Solutions Provider Buys Utility.Com's Web Platform & It Staff

Calpine Breaks Ground on the Calgary Energy Centre250-Megawatt Natural
Gas-Fired Electricity Generating Facility to Enter Commercial Operation in
December 2002

Georgia Power Race Discrimination Lawsuit: Company 'Lying,' Says Cochran

----------------------------------------------------------------------
I N T E R N A T I O N A L
----------------------------------------------------------------------
Access stories online at: http://www.powermarketers.com/pma-intr.htm

Ontario Securities Commission: Arc Energy Trust: Arc Resources Ltd: Startech
Energy Inc: Impact Energy Inc - OSC Re Arc Energy Trust Exemptive Relief
Applications

Top Energy Summaries - Tuesday, April 03, 2001 - 2:36 PM

Top Energy Summaries - Tuesday, April 03, 2001 - 12:20 PM

Tengasco Inc - Signs 20-Year Natural Gas Sales Contract - with British
Aerospace at Holston Ammunition Arsenal

Arthur D. Little Wins Contract to Advise on Restructuring of Saudi Arabian
Electricity SectorGovernment-Owned Electric Utility Is Largest in The Middle
East, Providing Power to More Than 3 1/2 Million Customers

Trimol Group to Participate in Fuel Cell ConferencesChief Scientific Officer
Presents Ground Breaking Aluminum-Air Fuel Cell Developments

LongBow Energy Corp. Announces It Has Entered Into a

Electrabel sees wind power projects slowed by planning, military restrictions

Tengasco Signs 20-Year Natural Gas Sales Contract with British Aerospace at
Holston Ammunition Arsenal

Peru: New Destination for Bolivian Natural Gas

Peru: Edelnor Signs Power Purchasing Contract with Egenor

Chile: El Paso Energy And Repsol Ypf Consider Gas Pipeline Extension

Energy Conservation Technology Spread in China

UK Government: Advance Energy Statistics

Corus, Amec, Northern Electric in study on UK wind farm project

STOCKWATCH: International Power rises as Deutsche Bank upgrades to 'buy'

Vietnam Completes Contract for Phu My Power Plant Additions

Japan to lend 16.68 bln yen to Costa Rica for power plant

Jpmorgan Hires Paul Horsnell to Head Energy Research

RPT: KEPCO transforms 6 power generation plants into wholly owned subsidiaries

China West-East Power Transmission Beneficial to All Sides

China's Liaoning Chooses 8 Sites for Wind Power Development

Coal firms exempted from full fuel price hike

----------------------------------------------------------------------
KRT DAILY ENERGY NEWS
----------------------------------------------------------------------
Access stories online at http://www.powermarketers.com/pma-krt.htm

Norfolk, VA., Consumers Will Have Choice of Energy Providers in 2003

Tennessee Valley Authority Chairman Retires with `Mixed Record'

Unfinished Nuclear Power Plant in Hollywood, ALA., May Become Coal Plant

More Jobs to Be Cut Through Chicago, Philadelphia Energy Firms' Merger

California Energy-Saving Program Pays $75 to Recycle Old Refrigerators

Decreased Snowpack Won't Ease Summer Energy Woes in California

California Consumers Question Government's Skill in Dealing with Energy Crisis

Seattle Electric Utility Reduces River Flow to Aid Salmon

Washington State Lawmakers Zap Energy Package

Sacramento, Calif., Power Board Keeps Eye on Utility's Request to Raise Rates

California Revenue Directive Worries Utilities

The Sacramento Bee, Calif., Jack Sirard Column

Alternative Generators Declare War Against Big Utilities in California

California Memo Indicates State Will Fall Short of Power Plant Goal

Frustrated California Consumers Seek Promised Rebate for Energy Efficiency

California Governor Blasts Republicans Over Energy Crisis

California Utilities Underestimated Impact of Rate Hike

Virginia Consumers Prepare for Electricity Deregulation

California Power Officials Reiterate Need for Line in Riverside County, Calif.

Rate Hikes Are Better Than Blackouts, Expert Tells Ontario, Calif., Area

Colorado Utility Companies Discuss Effect of California Crisis

Orlando, Fla., Utilities Customers to See Increase in Power Bills

California Experts Say More Needed to Solve Energy Crisis

California Governor Meets with Fellow Democrats to Discuss Electricity Crisis

Costa Mesa, Calif.-Based Engineering Firm Capitalizes on Electricity Crisis

Hampton Roads, VA.-Area Consumers Prepare to Choose Their Own Power Company

Florida Utility Executives Retain Incentives for Defunct Merger

Florida Energy Company Calls Off Merger with New Orleans Utility

Florida-, Louisiana-Based Power Companies Abandon Merger

Hydrogen Cell Fuels Valencia, Calif., Manufacturer's Optimism

Massachusetts Electric Company Increases Rates

Natural Gas Costs May Worsen California Energy Crisis, Experts Tell Lawmakers

Natural Gas Woes to Continue Throughout Summer in California

Entergy Merger Plan Just Latest Could-Have-Been for Fpl Utility Executives

Detroit Free Press Mike Wendland Column

Michigan Utilities Keep Ahead of Power Shortages, Executives Say

Iowa Utilities Board Considers Extending Winter Moratorium

Labor Unions, Seniors Oppose Iowa Power-Plant Bill

The Bakersfield Californian Decisionmakers Column

Merger between Electric Utility Firms in Beaumont, Texas, Area Falls Through

Portales, Texas, Electric Cooperative Receives Federal Loan for $2.2 Million

----------------------------------------------------------------------
REUTERS
----------------------------------------------------------------------
Access stories online at:
http://news.powermarketers.com/news/articles/ElectricPower.html

UPDATE 1-Calif. regulators approve order on power bonds

Dynamis sues PG&E for $3 mln in past-due payments

Kaiser Aluminum to consider smelter restart this fall

UPDATE 1-Calif. ends alert as power supplies return to grid

UPDATE 1-Edison gets more time; Calif. may sell $14 bln bonds

Ontario's nuclear plants exceed targets

U.S. confident of innovations on climate change

EU official says US can't kill global warming accord

Canada natgas prices rally on better supply balance

Five groups bid for Moroccan wind power farms

NRC considers plan to convert plutonium to reactor fuel

Enron unit, J.C. Penney sign $600 mln energy deal

UPDATE 1-Xcel Energy sees 1st half topping analysts' view

New Issue-Rochester Gas & Electric sells $200 mln notes

Dutch lower house okays energy distributor sales

TEXT-S&P rates NRG ENERGY notes BBB-minus

S&P rates Zapadoceska Energetika l-t, s-t ratings

Morocco asks Siemens for final talks on power plant

TEXT-S&P affirms Green Mountain Power BBB rtg

New Issue - NiSource Finance sells $300 mln 2-yr notes

Green Mountain to provide 100 pct. green power in Texas

EU ministers set to clip Commission on telecoms

UPDATE 1-Entergy sees Q1 eps well above estimates

UPDATE 1-Edison, PG&E may take $6.8 bln charges

Japan nuclear body says inflated budget request

HEADLINE STOCKS - U.S. stocks to watch on April 3

Lithuania utility in 1-yr export deal with Russia UES

Atmos Energy lowers Q2, full-year view

*********************************************************
NEW on the POWERMARKETERS.COM TRAINING PAGE
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Access all online presentations at: http://www.pmaconference.com

Coming soon! PMA Power Markets 2001 presentations, taped at the Aladdin
Hotel, Las Vegas, March 15-16, 2001.

Don't forget you can choose to stream the presentation immediately over the
web, or download it to your computer for later viewing-- Free!

RealVideo-based powerpoint-based presentations, with the accompanying audio.
Running about 30 minutes each, selections include:

ELECTRONIC TRADING. Power is following natural gas to become an
electronically-traded commodity. The products, the technology and the future
of electricity transactions. Kevin Sluder, Vice President, HoustonStreet
Exchange.

NUTS AND BOLTS OF RETAILING. What it takes to put an energy retailing
operation together-- the cash and credit requirements, back office,
information technology, staffing, marketing, sales and organizational
considerations. Andrew Serri, Vice President, AmerenEnergy Marketing.

RETAIL: WHAT WENT WRONG, HOW TO FIX IT. Retail electric deregulation has thus
far been an underwhelming success, but a great deal has been learned, and it
is eminently fixable. By Dr. John O'Brien, Principal, Skipping Stone

MANAGING BILLING. The complex requirements for managing billing and
commodities in the deregulating energy industry cannot be met with current
CIS and CRM technology. Energy Retailers must embrace the next evolution of
energy customer management (ECM) solutions. Paul Grey, Chief Technology
Officer, Peace Software.

THE INTERNET AND THE VELOCITY FACTOR. Greater price transparency, faster
execution, reduced transaction costs, increased number and frequency of
transactions and increased specialization are just some of the changes to
energy markets wrought by the web, and it's just beginning. Implecations of
the internet for energy markets. E. Russell "Rusty" Braziel, Chairman and
Director, Altra Energy Technologies.

Access all online presentations at: http://www.pmaconference.com

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Mike

Thanks for the info.


Savita

In our testing we have found the inability to manage our wing-strikes risk.  The way it works for power markets is that most traders would be unwillling to trade more than 250MW of a wing strike without widening out the bid offer.  Similarly the risk at some point can get high enough to suspend wing strikes. In the current option manager, the only possibility is to increase or decrease the ATM suite vol (which has little effect on the wing strikes anyway).

For that reason we need a volumetric control for each strike. The volumeteric control could be a toggle which could be turned on or off. If the volumetric control toggle si on, corresponding to each strike, there would be  a maximum volume.  If  the strike is hit or lifted by that volume, that strike is automatically suspended and the trader notified. This allows the individual strike risk to be limited.  This also allows us to put some less liquid markets out there - where the price discovery is evolving. In those products we can put the volume to be limited at 100 MW for each strike making the risk more manageable.

Pls give me a call, so that we can discuss this further.

Harry Arora


I think it's a good idea, but we will need a different summary ... either
limit the summary to a couple of key points or provide an explanation, in
layman's terms, of the practical effect of each of the changes.

Cindy Olson
04/26/2001 01:46 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Pension Reform Bill

Steve, what do you think?????
---------------------- Forwarded by Cindy Olson/Corp/Enron on 04/26/2001
01:42 PM ---------------------------

Mikie Rath
04/26/2001 01:12 PM
To: Cynthia Barrow/HR/Corp/Enron@ENRON, Cindy Olson/Corp/Enron@ENRON
cc:

Subject: Pension Reform Bill

What do you think of us sending out a U.S. Domestic employee mass e-mail
asking our participants to lobby
for passage of this very important bill.  I tried to make it more interesting
than dry toast.

Let me know since this is heating up as you can see from the bulletin just
received below.

p.s.  Obviously, I didn't get in enough protesting during my hippie years!

"In related news, the House Ways and Means Committee voted
35 to 6 to expand tax breaks for retirement savings plans.
The bill, which will go to the full House next week, would
increase the contribution level for IRAs from $2,000 to
$5,000, increase the annual dollar limits for 401(k) plans,
and allow employees over age 50 to "catch up" on pension
contributions they may have skipped when they were younger.
(The New York Times, 04/27/2001, National ed., p. A16; The
Wall Street Journal, 04/27/2001, Midwest ed., p. A22 ; The
Washington Post, 04/27/2001, p. A1)"


Paul

As discussed the buy approval, from the legal perspective only relates to the
US entity, not the Canadian entity.

Regards,

Marcus

	Paul Radous/ENRON@enronXgate
	05/30/2001 10:53 AM

		 To: Tana Jones/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON
		 cc:
		 Subject: FW: Engage (2 Entities) Open for All US Phys Power

I have left Deb Robinson of Engage (403-297-1477) a voice mail indicating
legal's need for a power marketing license if they want to sell power to us,
but that buying is fine.  From a credit perspective, however, we are not
changing our EOL enabling profile.

 -----Original Message-----
From:  Moran, Tom
Sent: Wednesday, May 30, 2001 10:24 AM
To: Sever, Stephanie; Jones, Tana
Cc: Lebrocq, Wendi; Radous, Paul
Subject: Engage (2 Entities) Open for All US Phys Power

Stephanie/Tana,

Could you please expedite the following amendment the profiles of Engage
Energy America LLC and Engage Energy Canada L.P. as soon as possible this
morning.  Paul Radous is opening both of these entities up to trade all US
East and West Phys Power products and I have made the changes in Profile
Manager.

Thanks for your help !
tm

30-May	Paul Radous		94109	Engage Energy America LLC	US	Y	Amended	Amend profile to allow US
East and West Power Phys for 12 months
30-May	Paul Radous		53341	Engage Energy Canada L.P.	Canada	Y	Amended	Amend profile to allow US
East and West Power Phys for 12 months


I've received a message from the confirms group that the following deals need
unit names in the comment section. If you e-mail them back to me, I can enter
them into the deals.

586090 - LADWP
586092 - EWEB
587312 - SRP
587314 - EWEB
587316 - EWEB

Let me know if you have any questions or need assistance.

Thanks,
Kate


Is it possible to reschedule the commercial meeting from Wednesday.
Wednesday is the busiest day of the week for the gas floor.   Please advise,
John

Jeanie Slone
11/02/2000 03:56 PM
To: Fred Lagrasta/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT
cc:
Subject: Final Gas and Power Trading PRC meeting

Mark you calendars for the Gas and Power Trading PRC meetings to be held
Wed. November 29 (Commercial) and Mon. December 4(Commercial Support)  You
will receive specific information regarding times and locations soon.
If you would like additional members of your staff to attend the meeting to
provide feedback, please submit their names to me by November 10.
A formal Gas pre-ranking meeting is not scheduled.  However, if you are
interested in conducting a pre-PRC meeting, please contact me by November 10.

Best regards,
Jeanie
X5-3847


Ben

Attached is a short form estimate I had on Pittsburg which is a 2 X 1 GE7FA
plant. Also included is Linden 6 (which is a 7FA with an HRSG supplying steam
to an existing facility, i.e. no steam turbine). Pittsburg is an outdoor
plant so should represent a fairly competitive deal.

I also have some place a 1 X 1 that we just got on Coyote Springs.

Bruce


Muchas gracias, mi amiga.  Un gran besito a vos.

Carolina Waingortin@ENRON
05/10/2001 04:05 PM
To:	Scott Neal/HOU/ECT@ECT
cc:
Subject:	! ! ! ! ! !

Happy birthday to youuuu Happy birthday to youuuu Happy birthday dear frieeeeeeeeennnnnd
Happy birthday to youu.

C. =)

(besitos)


fyi
----- Forwarded by Elizabeth Sager/HOU/ECT on 03/01/2001 03:17 PM -----

	drusso@reliantenergy.com
	Sent by: Nina_Tillett@reliantenergy.com
	03/01/2001 11:42 AM

		 To: losullivan@isda.org
		 cc: hemu@dynegy.com, elizabeth.sager@enron.com
		 Subject: ISDA Conference - March 6th in Houston

Liz,

? ? ? ? Attached is RES' Master Netting Agreement. ?I would also like to
include this in my package of materials I previously sent to you for
distribution to the attendees for the March 6th conference in Houston. ?If
this poses a problem, please give me a call.

? ? ? ? Thanks.

-Dede Russo
(713) 207-5240

 - RES Master Netting Agreement 030101.doc


Vince,

I will call Paul Racicot tomorrow.  Can you try and do the same?

Thanks,

Stinson

---------------------- Forwarded by Stinson Gibner/HOU/ECT on 10/10/2000
07:59 PM ---------------------------

Nick Bambos <bambos@stanford.edu> on 10/09/2000 12:04:19 AM
To: Stinson.Gibner@enron.com
cc:
Subject: Re: Enron/Stanford Program

Hi Stinson,

I am under pressure from the Department to wrap up Giuseppe's RAship,
and I am probing to see how things are going on this matter on your
side. I'm deep in the red in terms of the deadline - way beyond it!
Would it be possible to wrap this up this week?

Many Thanks,

Nick

Stinson.Gibner@enron.com wrote:
>
> Nick,
>
> I spoke with Paul Racicot, head of trading for  EBS, North America this
> morning.   He said that he is happy to send the $100,000 for your program
> from his budget.   I have forwarded to him the draft letter to accompany
> the funds and will try to follow up to make sure that the money is sent
> promptly.
>
> --Stinson


Vlady,

Here is the P&L breakout you requested.  If you have any questions give me a
call.

Robin
x57478


Make sure that all curves are downloaded by the end of simulation, 11:00 CST, tomorrow.  Ideally, the 2/7/02 curves should be marked in the morning prior to simulation.  We have been instructed to kick the calculation off as close to 11:00 CST as possible.  This is to ensure that ALL downstream systems are able to run through the simulation.

Please forward to all applicable traders.

Thanks,
Stacey


You have received this email because you signed up to receive valuable email offers from RadioStakes or one of our marketing partners.

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Susan Fallon ext. 5-8431


Hi Ben,

No problem if you want to invoice me.  I'm not ready for you to ship the
goods to me, though, and probably won't be for a few weeks, as I move into
the new digs.  Still thinking about the lamp and desk.....

Best,

Jeff

"Ben Macklowe" <Ben@macklowegallery.com> on 10/10/2000 06:17:34 PM
To: <Jeffrey.A.Shankman@enron.com>
cc:
Subject: Re: many things

the dragonfly table (I already sold the other one), the pair of Guimard
pots, and the Robalbhen ceramic apple.  Also on the list:
1. Galle "saggitaire" tri-cornered table, which has been sold (blame my dad)
2. the Tiffany lotus bell lamp, which was 59,000 and we told you 52.
3. The very tall Rozenburg iris vase, which was 14,000 and we told you 12.
4. The Rozenburg with 2 butterflies that looks like Gustav Klimt, $6,500 to
$5,750.
5. The Mougin ceramic of 3 mice and a bug, 1,950-1,700
6. The Galle desk that has waited for you 95-79 and that's a lot of love.

what do you think?
----- Original Message -----
From: <Jeffrey.A.Shankman@enron.com>
To: <Ben@macklowegallery.com>
Sent: Tuesday, October 10, 2000 6:35 PM
Subject: Re: many things

love to catch up tomorrow.  What did I buy from you in this most recent
batch?  (I remember the table and the guillmard pots).....

Jeff

"Ben Macklowe" <Ben@macklowegallery.com> on 10/10/2000 05:23:42 PM

To:   <jeff.shankman@enron.com>
cc:
Subject:  many things

Dear Jeff:

Hello! I wanted to make a bill for you for  the table and ceramic pieces,
is that ok?

Can you be in Washington on October 28?   There's a great day-long
symposium in conjunction with the Art Nouveau show  (which I saw on Friday,
and which is, incidentally, much bigger and better than  the one in London
was) which I'm going to, and I would love to be able to tour  around the
show with you. Also, Macklowe Gallery is having a cocktail  party that
night for our clients, friends, experts, and assorted fabulous  hangers-on.
You'll get an invite in the mail, but I wanted to give  you advance notice
since I know how hectic your schedule is.

I hope it was an easy and meaningful fast for you,  and that this year
brings you happiness beyond your wildest  imagination.
Tell me what's up
love.
ben


We have received the following executed documents from counterparty:

1.  First Amendment to ISDA Master Agreement dated as of 04/27/99 between ECT
and Engage Energy US, L.P. (i) making certain changes to setoff provisions
and (ii) changing Counterparty's exposure threshold; and

2.  ISDA Master Agreement (Multicurrency-Cross Border) between ECT Canada and
Engage Energy Canada, L.P. executed 05/03/99, effective as of 01/31/97.

Copies will be distributed.


Dear Eric,  Henwood Energy Services Senior Project Manager George Given talks about the Texas power market from the Houston bureau on Monday. Henwood Energy Services is forecasting the ERCOT power market is overbuilt.  The Houston bureau will bring us details next week.   We'll also hear from Niagara Mohawk Energy President and CEO Philip VanHorne next week as he talks about the negative effects of Enron on the national power industry.  Catch VanHorne's comments on Monday from Houston.   Amalgamated Bank of New York is trying to freeze the assets of some Arthur Andersen executives.  We'll have coverage of the federal court hearing on Tuesday taking place in Houston.   The two major stories in Washington next week are the return of Congress and the ongoing investigations into Enron.  Lawmakers return on Wednesday and will immediately begin new hearings on the embattled energy company.  The first hearing is scheduled for Thursday in Senator Joe Lieberman's Governmental Affairs Committee.  The Washington bureau will be covering the hearing next week and examining the impact the Enron situation could have on the overall energy debate in Congress.   Washington Bureau Chief Peter Cook will sit down next week for an exclusive interview with Interior Secretary Gale Norton.  Peter says he'll ask her about a host of issues including the future of energy production on federal lands and her view on the pending debate in Congress over drilling in Alaska's Arctic National Wildlife Refuge.   ENL's Kym McNicholas talks with California Assemblyman Joe Nation on Monday.  He'll discuss a new bill offering more incentives for renewables.      Harvard Economist William Hogan will also join Kym next week to discuss the California ISO's new Market Design Project 2002. Hogan says the plan is a major step forward in the California electricity market.  Catch him during the 2:00 p.m. ET newscast on Tuesday.    Closing Prices for Friday, Jan. 18, 2002    Crude: $18.00/bbl +$0.03   Unleaded: $0.5392/gallon +$0.0031   Heating Oil: $0.5141/gallon -$0.0004   Gas: $2.236/mmBtu -$0.018   Fwd uE(Feb.): $3.60/mmBtu -$0.05   Scheduling Note: I want to let everyone know that though the markets are closed, we'll be live from 9:00 a.m. ET to 5:00 p.m. ET Monday.   Keep in mind things are subject to change at a moment's notice. Occasionally guests have to reschedule or change time slots.  We'll continue to do our best to keep you updated on future interviews and events.     Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

	 	Jay Rickerts, EnergyNewsLive.com Anchor  View today's Energy Wrap Video Windows Media Player: 56K  | 100K  | 300K  Real Player: 56K  | 100K  | 300K  (Requires Windows Media Player or Real Player )   Experience all that Williams Energy News Live has to offer!   If you are receiving this letter for the first time and wish to continue, subscribe now    To stop receiving this letter, unsubscribe now    If you are having trouble receiving this e-mail, please let us know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Comments? Suggestions? Let us  know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Copyright 2001 Williams Energy News Live, LLC. All  Rights Reserved.


I am so sorry that we keep missing one another.  Are you available at any
time tomorrow so I can come visit to talk about Carnegie Mellon recruiting
this fall?

Kristin

Vince J Kaminski@ECT
08/23/2000 05:33 PM
To: John B Gordon/NA/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Kristin Gandy/NA/Enron@Enron

Subject: Re: Recruiting at Carnegie-Mellon

John,

I haven't received the invitation yet to the Sep 13th meeting.
I shall contact you Thursday regarding the CMU presentation.

Vince

John B Gordon@ENRON
08/23/2000 05:01 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Recruiting at Carnegie-Mellon

Vince:

I understand that you are the lead recruiter for CMU.  As you know, I am the
only alum from that school in Enron's Associate Program.  I assume I will be
joining you for our corporate presentation on 9/13 at 7:30am.  Please let me
know what I can do to help prepare for this event.  Enron and GSIA are a
great fit, so I want this recruiting effort to go well.

Are you also giving a talk/lecture to the computational finance students?  If
so, what time?  Maybe we can schedule a lunch with Duane Seppi.  I look
forward to hearing from you.

John Gordon


Shirley,

No problem.

Vince

 -----Original Message-----
From: 	Crenshaw, Shirley
Sent:	Tuesday, July 17, 2001 8:47 AM
To:	Kaminski, Vince J
Cc:	Dupont, Anita; Garza, Christina
Subject:	Personal Day

Vince:

I have several repairs that need to be done at home.  May I please
take a 1/2 day personal tomorrow afternoon and next Monday, the
30th in the morning?

Thanks!

Shirley


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/16/2001
11:01 AM ---------------------------

Al Arfsten <arfsten@bflassociates.com> on 02/16/2001 09:50:11 AM
To: vkamins@enron.com
cc:
Subject: More problems for blood banks

Vince:  An associates sent me this online news story: below.
http://dailynews.yahoo.com/h/ap/20010216/ts/us_mad_cow_5.html     Do you
know if Mark Lay has any further interest?  Regards, Al Arfsten 713 965
2158


Please see attached.

Regards,

Wendi Lebrocq
3-3835


Start Date: 4/14/01; HourAhead hour: 7;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041407.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 7 / Preferred:  50.00 / Final:  49.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_EPE
  ENGY_TYPE: FIRM


---------------------- Forwarded by Maria Sandoval/HOU/ECT on 11/27/2000
07:49 AM ---------------------------

Yolanda Sandoval <Yolanda.Sandoval@Halliburton.com> on 11/27/2000 07:14:57 AM
To:
cc:
Subject: FW: Christmas Story

Yolanda Sandoval
KBR Legal Dept.
*713-753-5986
 *713-753-7626
* yolanda.sandoval@halliburton.com

This email, including any attached files, may contain confidential and
privileged information for the sole use of the intended recipient(s).  Any
review, use, distribution or disclosure by others is strictly prohibited.
If you are not the intended recipient (or authorized to receive information
for the recipient), please contact the sender by reply email and delete all
copies of this message.  Thank you.

> > > A NICE ONE TO PASS ONE.
> > >
> > > If this doesn't set you straight about Christmas, nothing will:
> > > In September 1960, I woke up one morning with six hungry
> > > babies and just 75 cents in my pocket. Their father was gone.
> > > The boys ranged from three months to seven years; their sister was
> two.
> > >
> > > Their Dad had never been much more than a presence they feared.
> > > Whenever they heard his tires crunch on the gravel driveway
>     they would scramble to hide under their beds.
> > >
> > > He did manage to leave $15 a week to buy groceries. Now that he
> > > had decided to leave, there would be no more beatings, but no
>     food either.
> > >
> > > If there was a welfare system in effect in southern Indiana at that
> >   time, certainly knew nothing about it. I scrubbed the kids until
>     they looked brand new and then put on my best homemade dress.
>     I loaded them into the rusty old 51 Chevy and drove off to find
>     a job. The seven of us went to every factory, store and restaurant
>     in our small town. No luck. The kids stayed, crammed into the car
>     and tried to be quiet while I tried to convince whomever would
> > > listen that I was willing to learn or do anything. I had to have a
> job.
> > >
> > > Still no luck. The last place we went to, just a few miles out of
> > > town, was an old Root Beer Barrel drive-in that had been converted to
> a
> > > truck stop. It was called the Big Wheel. An old lady named Granny
> owned
> > > the place and she peeked out of the window from time to time at all
> >   those kids.
> > >
> > > She needed someone on the graveyard shift, 11 at night until seven in
> >   the morning.  She paid 65 cents an hour and I could start that night.
> > >
> > > I raced home and called the teenager down the street that baby-sat for
> > > people. I bargained with her to come and sleep on my sofa for a dollar
>     a night.  She could arrive with her pajamas on and the kids would
>     already be asleep.
> > >
> > > This seemed like a good arrangement to her, so we made a deal.
> > > That night when the little ones and I knelt to say our prayers we all
> > > thanked God for finding Mommy a job. And so I started at the Big
> Wheel.
> > > When I got home in the mornings I woke the baby-sitter
> > > up and sent her home with one dollar of my tip money - fully half of
> >   what I averaged every night. As the weeks went by, heating bills added
> >   another strain to my meager wage. The tires on the old Chevy had the
>     consistency of penny balloons and began to leak. I had to fill them
>     with air on the way to work and again every morning before I could go
> home.
> > >
> > > One bleak fall morning, I dragged myself to the car to go home and
> found
> > > four tires in  the back seat. New tires! There was no note, no
> nothing,
> > > just those beautiful brand new tires. Had angels taken up residence in
> > > Indiana? I wondered. I made a deal with the owner of the local service
>     station.  In exchange for his mounting the new tires, I would clean up
>     his office. I remember it took me a lot longer to scrub his floor than
>     it did for him to do the tires.
> > >
> > > I was now working six nights instead of five and it still wasn't
> > > enough. Christmas was coming and I knew there would be no money
> > > for toys for the kids. I found a can of red paint and started
> > > repairing and painting some old toys. Then I hid them in the basement
>     so there would be something for Santa to deliver on Christmas morning.
> > >
> > > Clothes were a worry too. I was sewing patches on top of patches on
> the
> > > boys pants and soon they would be too far gone to repair. On Christmas
> >   Eve the usual customers were drinking coffee in the Big Wheel.
>     These were the truckers, Les, Frank, and Jim, and a state trooper
>     named Joe. A few musicians were hanging around after a gig at the
>     Legion and were dropping nickels in the pinball machine. The regulars
>     all just sat around and talked through the wee hours of the morning
> and
>     then left to get home before the sun came up.
> > >
> > > When it was time for me to go home at seven o'clock on Christmas
> > > morning I hurried to the car. I was hoping the kids wouldn't wake up
> > > before I managed to get home and get the presents from the basement
>     and place them under the tree. We had cut down a small cedar tree
>     by the side of the road down by the dump. It was still dark and I
> couldn't
>     see much, but there appeared to be some dark shadows in the car or was
>     that just a trick of the night?  Something certainly looked different,
>     but it was hard to tell what.
> > >
> > > When I reached the car I peered warily into one of the side windows.
> >   Then my jaw dropped in amazement. My old battered Chevy was filled
>     full to the top with boxes of all shapes and sizes. I quickly opened
>     the driver's side door, scrambled inside and kneeled in the front
>     facing the back seat.  Reaching back, I pulled off the lid of the top
> box.
> > >
> > > Inside was a whole case of little blue jeans, sizes 2-10! I looked
> >   inside another box: It was full of shirts to go with the jeans. Then
>     I peeked inside some of the other boxes: There were candy and nuts
>     and bananas and bags of groceries. There was an enormous ham for
> baking,
>     and canned vegetables and potatoes. There was pudding and Jell-O and
>     cookies, pie filling and flour.  There was a whole bag of laundry
> supplies
>     and cleaning items. And there were five toy trucks and one beautiful
>     little doll. As I drove back through empty streets as the sun slowly
>     rose on the most amazing Christmas Day of my life, I was sobbing with
>     gratitude. And I will never forget the joy on the faces of my little
>     ones that precious morning. Yes, there were angels in Indiana that
>     long-ago  December. And they all hung out at the Big Wheel truck stop.
> > >
> > > THE POWER OF PRAYER
> > > When you receive this, say a prayer. This prayer will do. That's all
> you
> > > have to do. There is nothing attached. This is powerful. Just send
> this
> >   to four people and Do not break this, please.  Prayer is one of the
> best
>     free gifts we receive. There is no cost but a lot of rewards. Let's
>     continue praying for one another. Father, I ask you to bless my
> friends
>     reading this right now. Lord, show them a new revelation of Your love
> and
> power.
> > >
> > > Holy Spirit, I ask You to minister to their spirit at this very
> moment.
>     Where there is pain, give them Your peace & mercy. Where there is self
>     doubting, release a renewed confidence in Your ability to work through
>     them. Where there is tiredness, or exhaustion, I ask You to give them
>     understanding, patience, & strength as they learn submission to Your
>     leading. Where there is spiritual stagnation, I ask You to renew them
> > > by revealing Your nearness, and by drawing them into greater intimacy
> >   with You. Where there is fear, reveal Your love, and release to them
>     your courage. Where there is a sin blocking them, reveal it, and break
> > > its hold over my friend's life. Bless their finances, give them
> greater
> > > vision, and raise up leaders, and friends to support, and encourage
> >   them.  Give each of them discernment to recognize the demonic forces
>     around them, and reveal to them the power they have in You to defeat
> it.
>     I ask You to do these things in Jesus' name. Amen.
> > >
> > > Passing this on to anyone you consider a friend will bless you both.
> > >
> > > Passing this on to one not considered a friend is something I know
> >   Christ would do.
>  <<Internet HTML>>

 - att1.htm


Andrew,
This free service is brought to you by Stockscape.com
( http://www.stockscape.com )

THE FAGAN REPORT / http://www.faganreport.com
OPT-IN EMAIL SERVICE
TRADE ALERT #14
GUIDANT CORPORATION (NYSE - GDT)
June 5, 2001
11:45AMET - emailed to TFR Trade Alert Subscribers

NOTE - DELAYED DELIVERY: This information was previously distributed
to Fagan Report Trade Alert Subscribers at the above noted time and
date. Due to ever-changing market considerations - it may or may not
be applicable at this time.

TRADE ALERT #14 - Speculative Buy / Guidant Corporation (NYSE - GDT),
currently trading at $38.00 with a target above $45.00 and a stop-
loss at $34.20.

Guidant Corporation (GDT) is a global leader in the medical
technology industry providing innovative, minimally invasive, and
cost-effective products and services for the treatment of
cardiovascular and vascular disease. In short, GDT is involved with
just about everything and anything used to prevent and treat heart
attacks. With over 8,000 employees worldwide, it posted revenues in
excess of $2.5 billion for FY00. Net earnings after tax were $374.3
million. Earnings per share came in at $1.24 on a fully diluted
capitalization of 307,722,000 issued shares. Q1/01 numbers, for the
three month period ended March 31/01, are on track to produce similar
or slightly better results for FY01. Working capital at March 31/01
was $454.6 million. Total current and long term liabilities were $1.2
billion of which $350 million is expected to be paid off from cash
flow during FY01. At its current price of $38.00, it has a P/E of 32.
The only way to understand GDT is to spend an hour or two on its
website (www.guidant.com)

My thinking on this trade is that GDT will more than likely produce
better numbers this year than it did last year. Yet, at its current
price of $38.00 it is trading about 15% less than its 1999/2000 low
of $45.00. If it gets back to $45, there will be a 20% gain on the
trade. GDT's 52-week high/low stock price is $71.81/$33.00. As money
continues to rotate out of the tech sector and other economy
sensitive stocks, established medical companies like GDT should trade
higher.

Some subscribers get extra nervous trading higher priced stocks like
GDT. Remember that price is not an important consideration. The only
considerations that matter are the dollar amount of the trade and the
resulting percentage gain or loss. If you normally limit your trades
to $5,000 per transaction that's fine. Buy 130 shares of GDT. We have
a 10% stop loss limit on this trade so you are risking about $500.
The next reporting period for GDT is for the three-month period
ending June 30, 2001. If the numbers come in better than expected, we
could make 15% to 20% in 60 to 90 days. I'd be very happy with that
on this trade.

SUBSEQUENT NOTE: Wednesday morning, June 6, a day after this Trade
Alert was issued, CNBC reported that Bank of America had just
released a Buy recommendation on Johnson & Johnson. One of the
reasons given for the recommendation was that J&J has increased its
market share of the "heart surgical stent" market at the expense of
GDT. I think that is the reason for the weakness in today's GDT
market. The above recommendation on GDT remains unchanged, but one
should try to get the best entry price possible.

NOTE / DISCLAIMER All information published by The Fagan Report is
for informational purposes only. As Editor, I, Brian Fagan, tell you
what I am or would be doing if I had sufficient capital to do so. You
read and/or subscribe to receive this information for whatever
personal reasons you may have to do so. Nothing more is implied or
intended. Nothing in this communication is, nor should it be
construed to be an offer or solicitation for the purchase or sale of
securities. Please see our complete disclaimer statement at:
http://www.faganreport.com

COPYRIGHT: Fagan Report Trade Alerts are copyright material. It is
unlawful to duplicate, forward, or disseminate this information in
any form whatsoever, without the written permission of the publisher.
For copyright waiver, email your request to: info@faganreport.com .

Wishing you all the best,
The Fagan Report,
Brian Fagan
**********************************************************************
THE FAGAN REPORT
OPT-IN EMAIL SERVICE
June 5, 2001

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http://www.thestreet.com/pf/markets/detox/10000506.html

Trade Winds Blowing Enron Further South
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
08/30/2001 02:45 PM EDT
URL: <http://www.thestreet.com/markets/detox/10000506.html>

Enron (ENE:NYSE - news - commentary) appears to be relying on asset sales to offset weakness in its high-profile energy trading operation.
A billion-dollar sale of power plants likely made a hefty contribution to the energy giant's second-quarter profits, which are supposed to owe their rapid growth to the company's well-publicized trading acumen. A smaller sale of impaired assets to an affiliate company also may have helped nudge second-quarter numbers past Wall Street earnings estimates. One energy market source alleges the price tag on this deal was inflated. Complicating matters, Enron's financials make it difficult to determine exactly how much these deals may have contributed to earnings.
For its part, Enron flatly denies that it used one-time gains to meet estimates or that the price of the impaired-assets sale was inflated. But dependence on asset sales would mark a big step backwards for Houston-based Enron, which has long told investors that trading is its future. By shrewdly capturing a dominant position in the nation's fast-growing energy market, Enron has expanded trading profits exponentially over the last couple of years. Operating earnings from trading surged 160% in 2000 to $1.6 billion, causing the stock to double.
Now there's chatter that Enron's swashbuckling traders were caught out by the second quarter's unexpected drop in the prices of power and other energy commodities. In addition, the company booked a large loss in its broadband unit. If asset sales can't be repeated and trading income weakens, earnings could crater, observers say, which could pull Enron's already battered stock down even lower.
In fact, fear that Enron's prodigious profits growth won't be sustained is the chief reason its stock price has dropped by half this year. Other factors have contributed as well: Investor dissatisfaction over Enron's opaque and confusing financial statements have risen throughout the year, and earlier this month CEO Jeff Skilling quit after only six months on the job. Skilling's departure sparked all sorts of dark theories about the real reason for his sudden move.
Enron Chairman Ken Lay, who has now reassumed the CEO post, said this week that he aims to improve Enron's disclosure. He has moved to allay concerns over top-level instability by promoting two experienced Enron executives to the positions of president, also vacated by Skilling, and vice chairman.
But skeptics remain unconvinced. "I think the second-quarter performance was bad in the trading operations and was covered up by asset sales," says Mark Roberts, director of research at Off Wall Street, a Cambridge, Mass.-based stock analysis firm that doesn't do underwriting. (Off Wall Street issued a critical report on Enron in May.) For the quarter, Enron made 45 cents a share, 3 cents more than analysts had expected.
Details, Details
One transaction investors want details on is the sale by Enron North America of three gas-fired power plants to Allegheny Energy Supply, a unit of Allegheny Energy (AYE:NYSE - news - commentary) , Hagerstown, Md. The deal took place in May for a price of $1.05 billion, according to Allegheny's recent Securities and Exchange Commission disclosures. (Allegheny declined to comment on the deal.)
Enron's second-quarter earnings got a huge boost from the sale of these three so-called peaker plants, says Roberts. He believes the gain on the sale may have been as high as $500 million. An energy company analyst at a Wall Street brokerage thinks it may have been closer to $300 million. (His firm hasn't done recent underwriting for Enron.)
Enron's financial statements don't specify the size of the gain from the peakers, so called because they supply power when demand is strong. The company declines to offer a number, saying the gain figure is hard to isolate because it must be netted against gains or losses on contracts associated with the assets sold.
However, Enron's public disclosure states that proceeds from the sale are included in its commodity sales-and-services line, which is by far the biggest contributor to Enron's earnings, producing $762 million in operating profits in the second quarter.
The problem is that the firm's trading profits also are booked in this segment. As a result, investors can't know how much of the quarter's blowout commodity sales-and-services earnings came from the peaker sale and how much from straight trading. If Roberts' $500 million estimate is correct, trading may have accounted for only $262 million in second-quarter operating profit.
Partners Indeed
The other deal that's raising eyebrows is the sale in June by Enron of Texas-based assets that are used to produce MTBE (methyl tertiary-butyl ether), the chemical compound added to gasoline to make it burn more efficiently.
The assets were sold for $120 million by one subsidiary of Enron to another subsidiary, called EOTT Energy Partners (EOT:NYSE - news - commentary) , chiefly a marketer and transporter of crude oil. Any gain on the sale would have been booked in Enron's wholesale line.
The issues with the deal are plenty. It took place on June 30, right at the end of the second quarter. This could be construed as a sign that Enron pressed EOTT to do the deal then so it could include any gain in second-quarter results.
Then there's the question of price. Enron took a $440 million impairment charge against these MTBE assets at the end of 1999, responding to what it described at the time as "significant changes in state and federal rules regarding the use of MTBE." Some environmental authorities believe MTBE to be a dangerous substance and claim the MTBE content in drinking water has reached unacceptably high levels.
Skeptics ask: How can Enron turn around 18 months after a massive impairment charge and sell the assets for $120 million?
In addition, an executive at another energy company that talked to Enron about buying the MTBE assets claims they're worth $50 million at most; he claims Enron has long been trying to sell them for around $150 million.
Put bluntly, did Enron stuff EOTT with overpriced assets to meet earnings expectations?
An Enron spokeswoman responds: "EOTT views buying these assets as an expansion from its core business. It makes good business sense."
And a recent EOTT SEC disclosure states that EOTT's audit committee, made up of three directors who aren't employees or officers of any Enron affiliate, as well as an investment bank, judged the sale price to be fair. However, the chairman of the audit committee, Daniel Whitty, is a director for two other Enron subsidiaries. He declined to comment on the deal.
A person familiar with Enron's business adds that it was EOTT that wanted to get the deal done before the end of the second quarter so it could include the assets in third-quarter numbers.
This person also says the gain was "immaterial" to Enron's second-quarter numbers, since there wasn't a big difference between the fair value the assets were marked down to and the price at which they were sold. Most important, this person insists, the $120 million price isn't based only on the assets sold. EOTT is also paying for a contract with Enron that gives EOTT 10 years' worth of MTBE-related business. What's more, Enron has agreed to retain the price risk associated with the commodities involved in MTBE production, this person states.
Whatever the case with the MTBE assets, Enron would go a long way toward fulfilling Lay's promises of glasnost by breaking out asset-sale gains. "They need to put their disclosure where their mouth is," concludes Off Wall Street's Roberts.

Know any companies that the market may be misvaluing? Detox would like to hear about them. Please send all feedback to peavis@thestreet.com <mailto:peavis@thestreet.com>.
In keeping with TSC's editorial policy, Peter Eavis doesn't own or short individual stocks. He also doesn't invest in hedge funds or other private investment partnerships.


i'll be available

fletch


3 nights out in a row would be a bit much for this ol girl.
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/20/2001 01:10
PM ---------------------------

Kay Mann
04/20/2001 12:55 PM
To: "Clark Thompson" <cthompson@bracepatt.com>
cc:

Subject: Re: Astros Diamond Box Tickets

Thanks for the offer (and the call) but I haven't been able to secure a
sitter for Michael.

My schedule should be getting better (famous last words), and I hope we can
get together soon.  I would like to introduce you to Carlos Sole, if you
haven't met him yet.

Thanks again,

Kay

"Clark Thompson" <cthompson@bracepatt.com> on 04/20/2001 12:47:05 PM
To: <alan.aronowitz@enron.com>, <Barbara.N.Gray@enron.com>,
<carlos.sole@enron.com>, <dan.lyons@enron.com>, <jordan.mintz@enron.com>,
<kay.mann@enron.com>, <lisa.mellencamp@enron.com>, <Sheila.Tweed@enron.com>,
<steve.van.hooser@enron.com>, <Stuart.Zisman@enron.com>
cc:

Subject: Astros Diamond Box Tickets

I noticed this morning that the firm's Diamond Box seats for tonight's game
against St. Louis had not been claimed and so claimed them.  I apologize for
the late notice, but if you would be interested in going tonight, I would be
happy to make them available to you and your spouse, date, etc.  I'm still
trying to arrange my schedule to go, but wanted you to have the opportunity,
even if I couldn't make it.  Please call me or my secretary, Becky, at your
earliest convenience to let me know if you would like to use these tickets.

cgt

Clark G. Thompson, Jr.
Bracewell & Patterson, L.L.P.
711 Louisiana, Suite 2900
Houston, Texas  77002-2781
Phone: 713.221.1477
Fax:      713.221.2116
email:    cthompson@bracepatt.com

CONFIDENTIALITY STATEMENT:
This information is intended only for the use of the individual or
entity to which it is addressed and may contain information that is
privileged, confidential, and/or exempt from disclosure under applicable
law.  If you are not the intended recipient, you are hereby notified
that any dissemination of this information is strictly prohibited.  If
you have received this information in error, please notify us
immediately by telephone at (713) 221-1477 or by fax at (713) 221-2116,
and confirm that you have destroyed this information and any copies.
Thank you.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/28/2000
04:33 PM ---------------------------

Biliana Pehlivanova <pehlivanova@sugar-land.oilfield.slb.com> on 01/28/2000
11:54:58 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: AIESEC

Dear Mr. Kaminski,

The following are the  personal and work e-mail addresses of the Polish
trainees in College Station.

Sylwester Rutkowski  sylwesterr@usa.net, sylwester.rutkowski@destia.com
Patricia Dalecka  pdalecka@hotmail.com, patrycia.dalecka@destia.com
Danusia Mas   danusia.mas@destia.com
Lidia Olczyk   lolczyk@usa.net, lidia.olczyk@destia.com
Robert Lyczak   rlyczak@yahoo.com, robert.lyczak@destia.com

I would like to invite you to join us for a paintball game next Saturday,
Feb 5th. The purpose of this event is to develop team building among our
student members, Board of Advisors, and corporate clients.

In addition, I would like to invite you to participate in our Mock
Sales day on Saturday, Feb. 12th.  During this day, the new members will
first receive training on AIESEC sales/knowledge and then role play with our
Board of Advisors and alumni acting as company
representatives. Sharing your AIESEC and work experience would be a
valuable contribution to our training program.

I will get in touch with you regarding these events in the beginning of
next week, as soon as I have the time and place finalized.

I appreciate your interest in working with us.

Best regards,

Biliana Pehlivanova
Vice President of Incoming Exchange
AIESEC Houston


Just a reminder that the EGM weekly staff meeting will take place on Monday,
December 18th, from 8:30 - 9:30 a.m., in videoconference room EB 32C2.  Due
to the company holiday schedule, please note the following schedule of
meetings for the next three weeks.

 Monday, December 18th 8:30 - 9:30 a.m.  EB 32C2
 Monday, December 25th CANCELLED
 Tuesday, January 2nd  8:30 - 9:30 a.m.  EB 30C1

The staff meetings will resume on Monday, January 8th, in EB 32C2, as
regularly scheduled and will continue on a weekly basis on every Monday at
the same time and location unless notified otherwise.

Please let me know if you will be unable to attend the meeting on Monday,
December 18th.  I will send reminders for both the January 2nd and 8th
meetings as the dates approach.  Thank you.

Cathy Phillips
X-36898


PLEASE COME TO THE INFORMATION  SESSION ABOUT:
?
THE LATIN AMERICA  TRIP
?
WHEN:??? OCTOBER 3RD.,  12:30-2:00
?
WHERE:??? ROOM C135
?
WHAT:??? ??? ALL YOU  WANT TO KNOW ABOUT THE TRIP
?
FOOD:??? ???  YES!!!
?
?
?
Hope to see you there...
?
?
?
The Latin America Business Club
?
?
?


Sally,
 I tried to get on your calendar but you are busy this week so I decide to
send you a very important e-mail. You told me to contact you if I was ever
considering leaving my current job so I am doing so at this time. I want to
say that I have thoroughly enjoyed working with you and you are the most
impressive employee at Enron at any level. I feel comfortable speaking with
you and appreciate all of your advice. I am not totally unhappy with the
recruiting part of my job, I just feel that I do not "buy into" everything
that is happening in my group. There are many necessary changes that are
needed and I feel that the program is heading in an excellent direction. I
just want to get into more of a sales oriented part of Enron because I feel
that my strength is selling. I would like to at least get an interview with
Enron Broadband because I know that they are filling up there retail sales
groups. Although I do not have all the technical experience, I know people
who have gone over there with no technical or no sales experience. As you
know, it is who you know and I do not have a relationship with David Cox or
any of the
retail folks in broadband. I was hoping that you would give David a call and
see if he could at least give me an interview in one of the retail groups.
Brent has called over to David and I feel if you were to call also, it would
help.
 Sally, let me know if this will be ok and I would like to get on your
calendar to discuss further. Nobody in my group knows that I am looking for
another job so please keep this confidential. I can not tell  how much I
value your opinion and advice in matters especially  like these. Thank you so
much and I look forward
to hearing from you soon.
   George Hope


keeping my fingers crossed.....

Carol St Clair
11/04/99 02:07 PM
To: Mark Taylor/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT
cc:
Subject: Bankruptcy bill

Mark and Jeff:
FYI.
Carol
---------------------- Forwarded by Carol St Clair/HOU/ECT on 11/04/99 02:07
PM ---------------------------

	Enron North America Corp.

	From:  Jeffrey Keeler @ ENRON                           11/04/99 10:15 AM

To: Mary Nell Browning/LON/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Julia
Murray/HOU/ECT@ECT, jwest@velaw.com, elevinso@cwt.com
cc: Cynthia Sandherr/Corp/Enron@ENRON, Joe Hillings/Corp/Enron@ENRON, Chris
Long/Corp/Enron@ENRON
Subject: Bankruptcy bill

I just received notice that the Senate Bankruptcy Bill (S. 625) will be on
the Senate floor around 3:00 pm today.
As of a meeting I had yesterday afternoon, all of our issues look like
they're in good shape.

Just to re-cap for everyone:

1)  DOI proposal on oil & gas leasing -- will not be in managers' amendment
and should not be offered on the floor.
2)  Enron's techincal correction on production payments -- is safely in the
bill and will pass if the whole bill passes.
3)  Enron's additions/changes on derivatives language -- should be inserted
at Senator Nickles' behest into the managers' amendment before the bill goes
to the floor this afternoon...will get confirmation soon.

I'll be in touch shortly with updates.....

Jeff


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 01/25/2000
10:48 AM ---------------------------

	Enron North America Corp.

	From:  Maria Sandoval                           01/25/2000 09:22 AM

To: Andrea R Guillen/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, Pamela Sonnier/HOU/ECT@ECT, Cassandra S Dutton/HOU/ECT@ECT,
Melba Lozano/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT
cc:
Subject: Fwd: Fwd: Do ya love me?

---------------------- Forwarded by Maria Sandoval/HOU/ECT on 01/25/2000
09:21 AM ---------------------------

	From:  Andrea R Guillen                           01/25/2000 09:11 AM

Sent by: Andrea R Guillen
To: Maria Sandoval/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT, Melissa
Rodriguez/HOU/ECT@ECT, Elizabeth Soto/HOU/ECT@ECT, Phenicia
Olivier/HOU/ECT@ECT, iguillen@aglife.com, lgarza@jcpenney.com, Chantelle
Villanueva/HOU/ECT@ECT
cc:
Subject: Fwd: Fwd: Do ya love me?

---------------------- Forwarded by Andrea R Guillen/HOU/ECT on 01/25/2000
09:09 AM ---------------------------

Cecilia Olvera
01/25/2000 09:00 AM
To: Andrea R Guillen/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT, Alex
Saldana/HOU/ECT@ECT, Hannah Ortiz/HOU/ECT@ECT, Heather Choate/HOU/ECT@ECT,
Lynn Tippery/HOU/ECT@ECT
cc: A Olvera <mariachifrontera@yahoo.com> @ ENRON
Subject: Fwd: Fwd: Do ya love me?

I love you too Al !

Guys- don't freak out that's my brother.  : )

C
---------------------- Forwarded by Cecilia Olvera/HOU/ECT on 01/25/2000
08:57 AM ---------------------------

A Olvera <mariachifrontera@yahoo.com> on 01/25/2000 07:56:53 AM
To: Adriana Aguilar <vivgaytan@yahoo.com>, Diana Degollado
<dldegollado99@hotmail.com>, Susana Jones <susanacha@yahoo.com>, Josie
<thewayiam0@aol.com>, Albert Martinez <agmjr86736@aol.com>, Cecilia
Olvera/HOU/ECT@ECT, Hugo Perez <hcperez_99@yahoo.com>, Jaime Salas
<segio@aol.com>
cc:
Subject: Fwd: Fwd: Do ya love me?

Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Talk to your friends online with Yahoo! Messenger.
http://im.yahoo.com

X-Apparently-To: mariachifrontera@yahoo.com via web3201.mail.yahoo.com
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Received: from Unknown/Local ([?.?.?.?]) by shared1-mail.whowhere.com; Mon
Jan 24 12:09:03 2000
To: mariachifrontera@yahoo.com
Date: Mon, 24 Jan 2000 15:09:03 -0500
From: "Adriana Aguilar" <vivgaytan@eudoramail.com>
Message-ID: <EKFCPNCFHBDGAAAA@shared1-mail.whowhere.com>
Mime-Version: 1.0
X-Sent-Mail: off
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Subject: Fwd: Fwd: Do ya love me?
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Content-Type: text/plain; charset=us-ascii
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--

--------- Forwarded Message ---------

DATE: Thu, 20 Jan 2000 00:03:00
From: Ashram11@aol.com
To: vivgaytan@eudoramail.com

 >>> > > >   HOPE YOU SEND THIS BACK!!
 >>> > > > The way to love anything is to realize that it
 >>> > > > might be lost!
 >>> > > >
 >>> > > >  Hello everyone, this is to show people you love
 >>> > > >  them and to see how many people love you!!!!!!
 >>> > > >
 >>> > > >   Don't feel embarrassed because only you will get
 >>> > > >  the results.
 >>> > > >
 >>> > > >  First send it to every friend that you have
 >>> > > >   on-line.
 >>> > > > If they send it back then they truly are your friend.
 >>> > > > If they delete it then they never were.
 >>> > > >
 >>> > > >   Good Luck
 >>> > > >
 >>> > > >
 >>> > > >   PS -- Also send this to whoever sent it to you
 >>> > > >   because obviously they love
 >>> > > >  you and you are their friend. If you love them
 >>> > > >  and are friends with
 >>> > > >  them....send it back to them.
 >>> > > >
 >>> > > >
 >>> > > >   IF THIS LETTER IS SENT BACK TO YOU:
 >>> > > >
 >>> > > >   0 TIMES =YOU NEED TO WORK ON YOUR "PEOPLE SKILLS"
 >>> > > >
 >>> > > >   2 TIMES =YOU ARE NICE BUT NEED TO BE MORE OUTGOING
 >>> > > >
 >>> > > >   4 TIMES =YOU ARE COOL
 >>> > > >
 >>> > > >  6 TIMES =YOU ARE ALMOST POPULAR
 >>> > > >
 >>> > > >   8 TIMES =YOU HAVE PICKED YOUR FRIENDS WELL AND ARE ON THE ROAD
 >>>TO
 >>> > > > "SUCCESS"
 >>> > > >
 >>> > > >   10 TIMES OR MORE =YOU ARE TOTALLY AWESOME
 >>> > > >
 >>> > > >   *NOTE: YOU CAN ONLY COUNT A LETTER SENT BY THE
 >>> > > >   SAME PERSON ONCE.
 >>> > > >
 >>> > > >
 >>> > > >

--------- End Forwarded Message ---------

Join 18 million Eudora users by signing up for a free Eudora Web-Mail account
at http://www.eudoramail.com


---------------------- Forwarded by Darron C Giron/HOU/ECT on 12/08/2000
10:51 AM ---------------------------

Stacey Vallejo
12/07/2000 08:13 PM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Deals in the MGMT-WEST book

Hi Darron,

I'm not sure if this message is to go to you, and if it needs to go to
someone else could you please forward it to them, but there are several deals
in the MGMT-WEST book that need to be flipped to the FT-US/CAND-ERMS book in
the morning.

Q88422.1
Q87046.1
Q87271.1
Q87419.1
Q92337.1
QB4026.1
QB4210.1
QB4991.1
QB5037.1
QB5039.1
QB5129.1
Q87016.1

These are all December deals with companies that ECC has master swaps with,
and I should be settling them all on Friday December 8th.  Could you please
make sure that there aren't any more deals with ECC and a third counterparty
in this book as it messes up invoicing and settlement.

Please call me if you have any questions on this.

Thanks for your help
Stacey


Start Date: 3/10/01; HourAhead hour: 7;  HourAhead schedule download failed.
Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001031007.txt
!!!General SQL error.
Couldn't update; currently locked by user 'admin' on machine 'ECTHOU-BPS4'.
Table
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.


Seems like one or each desk could participate.  The problem would be the unrecorded line.

To:	Mark Fischer/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT
cc:
Subject:	Morning Gas Call

A few weeks ago Lavorato requested that the west power desk sit in on his morning meeting with the different desk heads.  I suggested that one of the cash traders sit in on the meeting as you guys have the best handle on what is likely to happen in the short term markets and you guys are always here at 5:45.  Jeff Richter has been sitting in on these meetings for the last couple of weeks.  I don't care how you guys handle it.  I originally thought that rotating between you guys might make sense.  These calls should be made on a regular line that is not recorded.  Let me know how you want to work it out.  If you are going to rotate, I would like to put together a schedule that I could have for myself and forward to Lavorato.  Thanks.  Let me know your thoughts.


FYi
---------------------- Forwarded by Susan Scott/ET&S/Enron on 03/22/2000
04:44 PM ---------------------------

Colleen Raker
03/22/2000 04:44 PM
To: Susan Scott/ET&S/Enron@ENRON
cc:

Subject: Calpine O&M Section 5.4

The attached electronic version of Section 5.4 integrates the changes noted
by underline on the hard copy I left in your office the other day.  I took
this opportunity to also divide Section 5.4 into 2 subparagraphs for
clarity's sake.  I also inserted a new  sentence at the end of subparagraph A
which was suggested by Enron Risk Management at a meeting I had with them
yesterday.  I will be adding this insert in the standard Limitation of
Liabilitysection in the GPG O&M forms of agreement.  Please replace the
currect section 5.4 in the Calpine O&M with the attached.


------------------------------------------------------------------------------
------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

March 16, 2001 5:00pm through March 19, 2001 12:00am
------------------------------------------------------------------------------
------------------------

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON NORTH AMERICAN LANS:  No Scheduled Outages.

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING:
Impact:  Corp Notes
Time:  Fri 3/16/2001 at  9:00:00 PM CT thru Sat 3/17/2001 at  1:00:00 AM CT
 Fri 3/16/2001 at  7:00:00 PM PT thru Fri 3/16/2001 at  11:00:00 PM PT
 Sat 3/17/2001 at 3:00:00 AM London thru Sat 3/17/2001 at  7:00:00 AM London
Outage:  cNotes Server Reboots
Environments Impacted:  All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval
Backout: Make sure server comes up.
Contact(s):  Trey Rhodes  (713) 345-7792

Impact:  EI
Time:  Fri 3/16/2001 at  9:00:00 PM CT thru Sat 3/17/2001 at  1:00:00 AM CT
 Fri 3/16/2001 at  7:00:00 PM PT thru Fri 3/16/2001 at  11:00:00 PM PT
 Sat 3/17/2001 at 3:00:00 AM London thru Sat 3/17/2001 at  7:00:00 AM London
Outage:  EI Notes Server Maintenance
Environments Impacted:  EI Local/Domestic/Foreign Sites
Purpose: Scheduled @ 2 week interval
Backout: N/A
Contact(s):  David Ricafrente    713-646-7741

MARKET DATA:
Impact:  Market Data
Time:  Fri 3/16/2001 at  4:30:00 PM CT thru Fri 3/16/2001 at  5:30:00 PM CT
 Fri 3/16/2001 at  2:30:00 PM PT thru Fri 3/16/2001 at  3:30:00 PM PT
 Fri 3/16/2001 at  10:30:00 PM London thru Fri 3/16/2001 at  11:30:00 PM
London
Outage:  Telerate Plus Monthly Maintenance Reboot
Environments Impacted:  Telerate Plus Users - Equity and FX Traders
Purpose: Preventive maintenance.
Backout:
Contact(s):  Paul Jordan    713-853-0320

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS:
Impact:  CORP
Time:  Fri 3/16/2001 at  7:00:00 PM CT thru Fri 3/16/2001 at  7:15:00 PM CT
 Fri 3/16/2001 at  5:00:00 PM PT thru Fri 3/16/2001 at  5:15:00 PM PT
 Sat 3/17/2001 at  1:00:00 AM London thru Sat 3/17/2001 at  1:15:00 AM London
Outage:  Tibco Rendezvous Client update
Environments Impacted:  All Development Groups. Sitara, TDSLaunchpad,
TDSTradeBlotter, Unify, Enpower, Equity Trading System, QuickTrade, &
Moneypenny
Purpose: New in House development has been started using the new client.
Tibco v 5.x is not supported under Windows 2000
Backout: replace \\enehou-appw1\apps_admin\scripts\tibco.vbs with
\\enehou-appw1\apps_admin\scripts\Scripts to Delete\tibco.vbs  Edit
\\enehou-appw1\apps_admin\scripts\SetupSvc\SetupSvc.ini.   Change the entry
for tibco to Tibco="%szAppinst%\Tibco\5.2\Tibco_LM.exe"
Contact(s):  Michael S White  713-398-6602  713-708-9841

Impact:  SAP
Time:  Fri 3/16/2001 at  6:00:00 PM CT thru Sun 3/18/2001 at  3:00:00 PM CT
 Fri 3/16/2001 at  4:00:00 PM PT thru Sun 3/18/2001 at  1:00:00 PM PT
 Sat 3/17/2001 at  12:00:00 AM London thru Sun 3/18/2001 at  9:00:00 PM London
Outage:  SAP Production Builds
Environments Impacted:  SAP
Purpose: Integration of new companies and business functionality into current
configuration
Backout: Stop the build and/or restore the systems
Contact(s):  Michael Vu    713-345-5574

Impact:  Test
Time:  Fri 3/16/2001 at  7:00:00 PM CT thru Fri 3/16/2001 at  9:00:00 PM CT
 Fri 3/16/2001 at  5:00:00 PM PT thru Fri 3/16/2001 at  7:00:00 PM PT
 Sat 3/17/2001 at  1:00:00 AM London thru Sat 3/17/2001 at  3:00:00 AM London
Outage:  NFS O/S upgrade - (Calvin / Hobbes)
Environments Impacted:  All Development Groups
Purpose: Stability
Backout: Reinstall previous o/s version.
Contact(s):  Wilford Stevens    713-853-7564
  Michael Barber     713-853-5530

Impact:  CORP
Time:  Sat 3/17/2001 at  8:00:00 AM CT thru Sat 3/17/2001 at  8:00:00 PM CT
 Sat 3/17/2001 at  6:00:00 AM PT thru Sat 3/17/2001 at  6:00:00 PM PT
 Sat 3/17/2001 at  2:00:00 PM London thru Sun 3/18/2001 at  2:00:00 AM London
Outage:  Rmsprod Maintence
Environments Impacted:
Purpose: Overall performance
Backout: Restart in normal mode.
Contact(s):  Emmett Cleveland    713-345-3873

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages
The Lucent switch ATM conversion has been postponed until 3-30-01 at 10:30 pm.

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

------------------------------------------------------------------------------
-------------------------------------------------------
FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center
(713) 853-5536   Information Risk Management

Specific Help:
Unify On-Call      (713) 284-3757  [Pager]
Sitara On-Call     (713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS   (713) 639-9726  [Pager]
OSS/UA4/TARP    (713) 285-3165  [Pager]
CPR      (713) 284-4175  [Pager]
EDI Support      (713) 327-3893  [Pager]
EES Help Desk     (713)853-9797 OR (888)853-9797


DUE TO THE RECENT TRAGEDY AND DAMAGE IN NEW  YORK WE ARE EXPERIENCING SOME LOCAL INTERNET CONNECTION PROBLEMS. WE APOLOGIZE  FOR ANY INCONVENIENCE THIS MAY CAUSE.

KUDLOW'S TAKE
By Lawrence Kudlow

THE PRICE WE MUST PAY
We are at war.  And  war changes everything.

After today's heinous crimes committed by  terrorists against the U.S. and the
rest of civilized humanity, there must  be a sea change in American policies
if we are to effectively play the rough  hand that God has dealt us.

We are at war. And war changes everything,  including policies. We must now
embrace war policies.

Among the carnage and massive human suffering there  is an important wake-up
call that must be heeded by Democrats and  Republicans alike: We live in a
dangerous world, and we must never forget  how utterly important it is to
maintain our defenses in order to preserve  freedom and democracy and our way
of life.

The terrorist invasion of the U.S. mainland  underscores the urgent need to
rebuild the defense and national security  structure that has slowly but
steadily eroded in recent years. Barbaric  terrorists have revealed
significant flaws in our intelligence systems and  in our security
arrangements at home. This will all have to be changed. The  threat of
terrorist use of nuclear or other weapons of massive destruction  hammers home
the urgent need for strategic defense measures and a general  technological
rebuilding of our defense posture.

In financial terms, this will cost hundreds of  billions of dollars. So be it.
It's a drop in the bucket for the defense of  freedom. We will sell bonds to
finance military security. Bonds will finance  investment in freedom.

In economic policy terms, today's terrorist  invasion similarly changes
everything. To backstop national security  recovery we must take aggressive
actions to stimulate economic recovery. It  was Reagan who argued 20 years ago
that U.S. economic decline in the 1970s  stimulated Soviet adventurism and
expansionism. Reagan knew that economic  recovery at home would insure
international recovery abroad.

In an interesting book by Professor Gary Dean Best,  entitled Pride,
Prejudice, and Politics, a similar point was made about the  linkage between
domestic economic policy and international security policy.  Prof. Best noted
that the failure of the U.S. to recover from the Depression  - where even as
late as 1940 the unemployment rate was 14.6% - created an  image that the
economically-plagued U.S. would be a weak player on the world  political
scene. Quite simply, Best argued that economic weakness at home  encouraged
Hitler and Japan abroad.

In today's terms, one cannot help but wonder  whether Mideast-based terrorist
groups do not think that their  energy-producing state government sponsors can
simply turn the dial, tighten  oil production, and thereby weaken the American
economy even more. Is it  entirely a coincidence that the terrorist actions
aimed at closing down Wall  Street, closing down the Pentagon, and even
closing down the U.S.  government, have occurred in the immediate aftermath of
worsening economic  news and slumping stock market performance?

No matter what the cost, the U.S. must be prepared  to restore its economy.
Phony lockboxes must be thrown out the window.  Unnecessary obsessions over
debt retirement must be driven away. Now is the  time for aggressive fiscal
and monetary stimulus to promote growth and  finance freedom. Substantial tax
cuts on individuals, businesses, capital  investment, and equipment
depreciation should be immediately put into place.  Lower tax rates across the
board will aid recovery by reducing production  and investment costs while
stimulating an entrepreneurial economic return.  The Federal Reserve Board
must substantially increase the volume of bank  reserves to reliquefy the
financial system and the economy. Steps to promote  energy production must be
taken aggressively.

Here in New York, with the destruction of the World  Trade Center, those of us
in the financial community will grieve over the  sad and tragic loss of
husbands and wives who worked Downtown. So many of us  involved in politics
and government will know people who lost their lives in  the plane hijackings.
While we grieve sadly, our anger will demand immediate  U.S. retaliation to
clean out the terrorist criminals and the states that  sponsor them. We know
who they are. We know where they are. And we will hope  and pray that
president Bush takes immediate and effective actions.

But amidst the grieving and the anger, none of us  should lose sight of the
long-term goal of preserving our freedom and  democracy. This is a national
security goal, and it is also an economic  security goal. What happened today
changes everything. Lord give us the  strength to learn from it and take the
right actions to preserve it.


The Enron Health Center has received its shipment of flu vaccine.  Shots will be given on a first-come, first-served basis.  NO APPOINTMENTS WILL BE ACCEPTED.

	When:	Beginning Tuesday, November 13
	Time:	8 a.m. until 4 p.m.
	Where:	Enron Health Center, EB-312
	Cost:	Free to Enron employees, spouses, retirees, and EDS
		$10 for contractors

For more information email:  mailto:health.center@enron.com.


Thanks for the invite.  I won't be able to golf for awhile.

---------------------- Forwarded by Chris Germany/HOU/ECT on 03/13/2001 12:30
PM ---------------------------

"Carol I. Hochman" <cihochman@duke-energy.com> on 03/13/2001 11:28:09 AM
To:
cc:
Subject: Duke Energy Gas Transmission Golf Event

Duke Energy Gas Transmission would like to invite you to attend our annual
Marketer/Producer Golf Tournament on Wednesday, April 4 in Sugar Land, TX.

Click on the link below to open your personal invitation for a fun golf
event!

If you have already responded to the RSVP either by e-mail, phone or fax -
NO NEED TO RESPOND AGAIN!

http://www.duke-energy.com/internet/golf/

Carol I. Hochman
Duke Energy Gas Transmission
(713) 627-5533     Office Phone
(713) 989-1519     Fax

e-mail: cihochman@duke-energy.com


If you guys remeber, I reminded you all last Tuesday, 5/30, in our staff
meeting to be on the look-out for the attached message from James re: 5/00
hours.  The deadline was Friday, 6/2, and unfortunately, very few of you
responded.  I understand how busy each of you are and you have expressed your
concerns on the process burdening you.  However, there are pressures
internally to provide information to Sr. Management on a more timely basis.
We need to do our part.  Please respond ASAP, but no later than Thursday,
6/8.  Please contact Jennifer or Shari if you have any questions or need any
help.

Additionally, for those of you who are involved in Bridgeline, we will be
preparing a bid for our services going forward per a discussion I had with
Trevor yesterday.  Therefore, the May drivers are very critical to that
process also.

So everyone, please get your info in ASAP.  I appreciate your help.
---------------------- Forwarded by Brenda F Herod/HOU/ECT on 06/07/2000
03:26 PM ---------------------------

James Scribner@ENRON
05/30/2000 11:54 AM
To: Brenda F Herod/HOU/ECT@ECT, Diane H Cook/HOU/ECT@ECT, Mary M
Smith/HOU/ECT@ECT, Carolyn Gilley/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT,
Kathryn Cordes/HOU/ECT@ECT, Jefferson D Sorenson/HOU/ECT@ECT, Michael E
Moscoso/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT, Kristin Albrecht/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT,
Donna Greif/HOU/ECT@ECT, John Jacobsen/HOU/ECT@ECT, Scott Pleus/HOU/ECT@ECT,
Mary G Gosnell/HOU/ECT@ECT, Carrie Hollomon/HOU/ECT@ect, Jeff
Harbert/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT,
Bryce Baxter/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Cheryl D King/HOU/ECT@ECT,
Judy Barnes/HOU/ECT@ECT, Tony Harris/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Michael Eiben/HOU/ECT@ECT,
Pat Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT, Lisa
Csikos/HOU/ECT@ECT, Irene Flynn/HOU/ECT@ECT, Denae Umbower/HOU/ECT@ECT,
Juanita Marchand/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT,
Eugenio Perez/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, Thresa A
Allen/HOU/ECT@ECT, Roy Lipsett/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT, Dan
Houston/Corp/Enron@Enron, Steve Jackson/HOU/ECT@ECT, Daren J
Farmer/HOU/ECT@ECT
cc: Lisa B Cousino/HOU/ECT@ECT, Shari Mao/HOU/ECT@ECT, Jennifer
Reside/HOU/ECT@ECT, Elmo Gore/Corp/Enron@ENRON
Subject: May Hours Survey

Attached please find the Hours Survey and Instructions for the month of May,
2000.

I am sending the survey out this time as an opportunity to introduce myself
to those of you I have not yet met.  I am being asked to take a direct roll
in the further development and rollout of the Operations Pricing Model (fka
Transaction Cost Model).  In the past, I have directed the implementation of
several pricing systems based on activity based costing similar to the
Operations Pricing Model (OPM).  Over the past couple of weeks my
observations of the Model have lead me to be concerned with the quality of
data used in the model.  It will take efforts by both you and the OPM team to
get to a satisfactory level of data quality.  This process can start with
this months data collection efforts.  Please pay particular attention this
month as the "bar is being raised" by the management of Energy Operations for
data quality and timeliness.

While completing the survey, take this time to review last month's numbers.
Please return these surveys to Shari Mao by end of day Friday, June 2.

Please note the following changes:
The Nat Gas RC's will now see deal validation and transportation rate
activities therefore, these surveys will be notably longer but will not
necessarily take more time

If the survey does not contain an activity that your team spends time on,
PLEASE DO NOT TYPE ANY ACTIVITIES IN THE SURVEY.  Contact Jennifer Reside at
#35971 to discuss how to proceed.

If you have any questions relating to the model or this survey, or are unable
to meet the survey due date, please call Jennifer Reside at #35971 (Shari is
on vacation this week).


Hi Vince,
I have been working on and/or planning to work on the following projects:
1.  Finished a gas daily swing option model for commodity structuring
group (Sanjeev Khanna).  The model uses American Monte Carlo
Simulation and dynamic programming techniques.

2. Continue working on PSIM model. This includes reading power generation
and operation books as well as thinking about ways to model power plant and
its operation. The standard approach (i.e. turn the plant on if power
price>total
generation cost, else turn the plant off) is not particularly good if the
regional
demand is very high and the plant still has some un-utilized generation
capacity.
That is, the generation criteria is quite different depending on we model
power
plant from regional point view or from plant point of view.  Plan to have
meetings
with Tom and Lance.

3.  Started working on stochastic process parameter estimation.  I will
concentrate
on four processes: GBM, mean reverting, jump diffusion, and jump diffusion
with
mean reverting.  I have looked at Tanya's earlier  work and decided to
discretize
the processes slightly differently.  It is hoped that this will give a more
stable
estimation.

Best,
Alex