----- Forwarded by Mark Whitt/NA/Enron on 03/27/2001 08:59 AM -----

	Mark Whitt
	Sent by: Mark Whitt
	02/26/2001 01:23 PM

		 To: clancy.aschbrenner@coastalcorp.com, steven.saye@coastalcorp.com
		 cc:
		 Subject: WIC Medicine Bow Release - Revised

Thanks for catching my mistake guys.  The package #2 with Huber should have
been 42,377.  In addition we did discuss not revealing the bid package until
the open season begins.

We will contact you soon about arranging the release.

Thanks for the help.

Mark
----- Forwarded by Mark Whitt/NA/Enron on 02/26/2001 01:20 PM -----

	Mark Whitt
	Sent by: Mark Whitt
	02/20/2001 11:03 AM

		 To: clancy.aschbrenner@coastalcorp.com, steven.saye@coastalcorp.com
		 cc: Paul T Lucci/NA/Enron@Enron, Gerald Nemec/HOU/ECT@ECT, Stephanie
Miller/Corp/Enron@ENRON
		 Subject: WIC Medicine Bow Release

As we discussed, ENA is going to release a portion of it's Medicine Bow
capacity to 2 different parties.  We would like to begin this process and
make sure we follow the proper procedures in the WIC tarriff.  In addition we
want to make sure that the releases are properly coordinated and go off
without a hitch.  The following are the terms of the releases and the
counterparties.

1.  Counterparty:  J M Huber Corp.
 Quantity:  10,336 MMbtu/d
 Term:   November 1, 2001 - the term of the contract
 Contract #   41066-000

2. Counterparty:  J M Huber Corp.
 Quantity:  42,337 MMbtu/d
 Term:   November 1, 2002 - the term of the contract
 Contract #   41066-000

3. Counterparty:  CMS Transmission and Storage
 Quantity:  7,172 MMbtu/d
 Term:   January 1, 2002 - the term of the contract
 Contract #   41066-000

4. Counterparty:  CMS Transmission and Storage
 Quantity:  1,015 MMbtu/d
 Term:   December 1, 2002 - the term of the contract
 Contract #   41066-000

5. Counterparty:  CMS Transmission and Storage
 Quantity:  1,015 MMbtu/d
 Term:   January 1, 2002 - November 30, 2002
 Contract #   41075-000 ( Volumetric Firm)

Each of these releases would be done with the following terms:

1.  First bidder meeting minimum terms
2.  Permanent release
3.  Hide the minimum rate
4.  The release will be at the contract rate
5.  The release will be recallable
6.  ENA will then follow up with a notice to WIC that we are giving up our
recall rights at a later date

Please let me know if this looks ok to you and let me know if each of these
parties are authorized to do capacity releases with WIC.

Thanks for your help.

Mark


login   kkindal
 password marketcredit!


The attached paper by Dr. Moore of the Reason Institute was sent to me as a
final draft -- when in fact it still has edit marks.  Please do not use this
version.  I will have the appropriate individuals send me the true FINAL
version and will resend it to you asap.  sorry for the inconvenience!!

Ginger Dernehl
04/27/2001 08:45 AM
To: Alan Comnes/PDX/ECT@ECT, Aleck Dadson/TOR/ECT@ECT, Allison
Navin/Corp/Enron@ENRON, Amy Fabian/Corp/Enron@ENRON, Barbara A
Hueter/NA/Enron@Enron, Bernadette Hawkins/Corp/Enron@ENRON,
Bevin.hunter@enron.com, Bill Moore/NA/Enron@Enron, Carolyn
Cooney/Corp/Enron@ENRON, Charles Yeung/HOU/ECT@ECT, Chauncey
Hood/NA/Enron@ENRON, Chris Long/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Dan Staines/HOU/ECT@ECT, Daniel
Allegretti/NA/Enron@Enron, Dave Mangskau/Corp/Enron@ENRON, Donald
Lassere/NA/Enron@Enron, Elizabeth Linnell/NA/Enron@Enron, Eric
Benson/NA/Enron@ENRON, Frank Rishe/NA/Enron@Enron, Geriann
Warner/NA/Enron@Enron, Germain Palmer/Corp/Enron@ENRON, Ginger
Dernehl/NA/Enron@Enron, Gloria Ogenyi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Harry Kingerski/NA/Enron@Enron, Howard Fromer/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Janel Guerrero/Corp/Enron@Enron, Janine
Migden/NA/Enron@Enron, Jean R Dressler/NA/Enron@Enron, Jean
Ryall/NA/Enron@ENRON, Jeff Brown/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Joe Allen/NA/Enron@Enron, Joe Connor/NA/Enron@Enron,
Joe Hartsoe/Corp/Enron@ENRON, Joseph Alamo/NA/Enron@Enron, Kathleen
Sullivan/NA/Enron@ENRON, Kathy Mongeon/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Kerry Stroup/NA/Enron@Enron, Kirsten Bellas/NA/Enron@Enron, Lara
Leibman/NA/Enron@Enron, Laurie Knight/NA/Enron@Enron, Leslie
Lawner/NA/Enron@Enron, Linda J Noske/HOU/ECT@ECT, Linda
Robertson/NA/Enron@ENRON, Lindsay Meade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Lisa Yoho/NA/Enron@Enron, Lora Sullivan/Corp/Enron@ENRON, Lysa
Akin/PDX/ECT@ECT, Marchris Robinson/NA/Enron@Enron, Marcia A
Linton/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Maureen
McVicker/NA/Enron@Enron, Melinda Pharms/HOU/ECT@ECT, Michelle
Belzak/TOR/ECT@ECT, Mike Roan/ENRON@enronXgate, Mona L
Petrochko/NA/Enron@Enron, Nancy Hetrick/NA/Enron@Enron, Patrick
Keene/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Rebecca W
Cantrell/HOU/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Robert Frank/NA/Enron@Enron, Robert
Hemstock/CAL/ECT@ECT, Robert Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Robin Kittel/NA/Enron@Enron, Ron McNamara/NA/Enron@Enron, Roy
Boston/HOU/EES@EES, Rubena Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Sandra McCubbin/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Scott
Bolton/Enron Communications@Enron Communications, Stella
Chan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen D Burns/Corp/Enron@ENRON,
Steve Montovano/NA/Enron@Enron, Steve Walton/HOU/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Sue Nord/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON,
Susan M Landwehr/NA/Enron@Enron, Terri Miller/NA/Enron@Enron, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom Briggs/NA/Enron@Enron, Tom
Chapman/HOU/ECT@ECT, Tom Hoatson/NA/Enron@Enron, Tracy Cooper/Enron
Communications@Enron Communications, Vinio Floris/Corp/Enron@Enron, Xi
Xi/Enron Communications@Enron Communications, Jeffrey
Keeler/Corp/Enron@ENRON, Stacey Bolton/NA/Enron@Enron, Mary
Schoen/NA/Enron@Enron, Lisa Jacobson/ENRON@enronXgate, Miyung
Buster/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth Linnell/NA/Enron@Enron,
Lynnette Barnes/NA/Enron@Enron, Linda L Lawrence/NA/Enron@Enron, Earlene
O'Connell/Enron@EnronXGate, Margo Reyna/NA/Enron@Enron, Gus
Perez/Corp/Enron@Enron, Angela Wilson/NA/Enron@Enron, Sharonda
Stephens/Corp/Enron, Eric Benson/NA/Enron@ENRON, John Shelk/NA/Enron@Enron,
Larry Decker/NA/Enron@Enron, Margaret Huson/ENRON@enronXgate
cc:

Subject: White Paper on Why Price Caps are Bad

gngr
713-853-7751
----- Forwarded by Ginger Dernehl/NA/Enron on 04/27/2001 08:43 AM -----

	Janel Guerrero
	04/26/2001 05:31 PM

		 To: Ginger Dernehl/NA/Enron@Enron
		 cc:
		 Subject: White Paper on Why Price Caps are Bad

Ginger:'

please email this to everyone in the Govt Affairs Group.  Thanks!


Mark,

For your views/thoughts...

Thanks

Justin

---------------------- Forwarded by Justin Boyd/LON/ECT on 02/06/99 11:09
---------------------------

Elena Kapralova
02/06/99 11:03
To: David Port/LON/ECT@ECT, Louise Kitchen/LON/ECT@ECT
cc: Jay Webb/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
Subject: GTCs Related Issues

Clifford Chance prepared a first draft of GTCs for UK traded commodities.
There are couple general issues emerged from our discussion today that are
relevant to all commodities:

1. Drafted GTC state that "the transaction shall be deemed executed at the
time that Enron sends electronic  message of acceptance" later referred as
Electronic Confirmation to the counterparty and "the parties may also
complete a written confirmation". "But in the event of any conflict Enron's
electronic records or paper copies" of them  shall prevail.

The question (David? Louise?)  is whether it makes sense to continue sending
written confirmations in this case? I know that the current business
processes assume that deals done Online, after they hit the Books, are
processed in the exactly same manner as deals done over the phone. However,
in case of the online trades when one paper record already exists, additional
written confirmation may be redundant.(?)

2. As it was decided not to modify Masters on a client by client basis, the
text on the screen asking to accept GTCs as well as electronically generated
Confirmation text should say that  the customer accepts that this transaction
is governed by GTC (available onlie) unless there is a Master Agreement in
place.

regards,
ek


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/08/2000 06:50
PM ---------------------------

Kay Mann
12/08/2000 06:49 PM
To: Ben Jacoby/HOU/ECT@ECT, jkeffer@kslaw.com, ccampbell@akllp.com
cc:

Subject: Timing this weekend

We would like to have the conference call at 200 CST on Sunday.  Any
problems?  If not, can you get the word out?

My number at home is 713 973 6325.

Kay


It is hard for me to say how this would work on behalf of all of my direct
reports.  Sometimes it is tough to have all assistants out at once.  To meet
at 3:00, you all would have to leave around 2:30, which could be early in the
day for some groups to lose assistants.    Would it work to start a little
later in the afternoon?  If before 5:00, I think that all assistants will
have to check with their managers on the convenience of an earlier departure
time.  --Sally

	Enron North America Corp.

	From:  Lynn Tippery                           04/26/2000 11:12 AM

To: Sally.Beck@enron.com
cc:
Subject: Congrats to Patti Thompson!!!

Hi Sally
Hope you had a great Easter!
Are you okay with us leaving the office early on Wed May 3rd?
Sometimes it is hard for some to break for lunch and others can't do a dinner
after work.  I thought mtg at 3pm would be inbetween.  And give everyone a
chance to relax without thinking about coming back to work.
I wanted to check with you before I asked for RSVP's.
Thank you
Lynn

---------------------- Forwarded by Lynn Tippery/HOU/ECT on 04/26/2000 11:05
AM ---------------------------

	Enron North America Corp.

	From:  Lynn Tippery                           04/18/2000 10:30 AM

To: Lorraine Becker/HOU/ECT@ECT, Heather Choate/HOU/ECT@ECT, Yvette G
Connevey/Corp/Enron@ENRON, Irena D Hogan/HOU/ECT@ECT, Marvia
Jefferson/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT, Sandra R
McNichols/HOU/ECT@ECT, Xochil Moreno/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT,
Ragayle Pellum/HOU/ECT@ECT, Kimberly Perkins/HOU/ECT@ECT, Alex
Saldana/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT, Lisa Shoemake/HOU/ECT@ECT,
Kelly Templeton/Corp/Enron@ENRON, Patti Thompson/HOU/ECT@ECT, Lynn
Tippery/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT
cc:
Subject: Congrats to Patti Thompson!!!

Hi Ladies,
If you don't know already, Patti Thompson (Sally's Assistant) is now an
official Enron Employee!!!!  Yeah!!!!!  I couldn't be more pleased and would
like to arrange a get together to welcome her to our group!  Plus, we haven't
all gotten together for awhile!  Instead of having lunch or dinner, maybe we
can meet in between.

 How about this?
Little Papasito's (on Westhiemer and Kirby) or Tilah's (on West Dallas)
Wednesday, May 3rd
Meet at the restaurant at 3:00pm
There is one thing about this. . . .no returning to the office!
(It hasn't been decided whether to go to Papasito's or Tilah's, place your
vote!)

I  would love to accommodate as many assistants as possible.  So if this
conflicts with many of your schedules, we can be flexible on the date.
Please let me know what you think as soon as you can.  I'll keep everyone
posted!
Lynn


Start Date: 4/5/01; HourAhead hour: 6;  HourAhead schedule download failed.
Manual intervention required.


Please check on the actual storage capacity volume on FSS contract 63304.
I'm showing 7,503,838 dth and I'm thinking it might be closer to 7,000,000.

Thanks


k - St Louis - 2

if gone - bye week replacement
San Francisco
Atlanta
Detroit


Following please find the Daily EnronOnline Executive Summary.

EnronOnline Executive Summary for 12/11/00
Transaction Summary
External Transactions Today	3,781
Average Daily External Transactions (30 day Trailing Avg)	4,357
Total Life to Date Transactions	515,690

EnronOnline Daily % of Entity's Total Transactions for 12/11/00	Trans	Percent
Enron North America	2,932	77%
Enron Europe Limited	171	35%
Global Products	195	36%
Enron Metals	483	15%

EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg)	55%

Gross Notional Value of EnronOnline Transactions	Total
Today	2,754,492,066
MTD	30,628,446,748
LTD	309,798,863,793
Average Daily Notional Value (30 Day Trailing Avg)	3,411,749,354

Notional Revenue from Physical Flows to Date	20,508,644,681

Counterparties, Users, and Products Offered
Counterparties having transacted to date	603
New Counterparties transacting for the first time today	1
Number of Products Offered Today	1,107
Total Number of External Users Logged on Today	3,328
Average # of External Users logged on (30 day Trailing Avg)	2,963


INTERNET STOCK NEWS[tm]
http://www.123jump.com
ISN Ones to Watch 1/29/2002:Plain Vanilla Or Rocky Road?
________________________________________________________________
TABLE OF CONTENTS

1. Overall Sentiment
2. Observations
3. Portfolio Results & Changes
4. Alexander, Iliana and Maneva
5. The Paradox of the Fed
6. From the Readers
7. Sonny T's Latest Picks
8. Basing Patterns
9. Comment Welcomed

----------------------------SPONSOR-----------------------------
Get a FREE Interactive CD Guide to Selecting Winning Stocks...

and 10 FREE issues of Investor's Business Daily!
No obligation. Nothing to cancel. Offer available in the U.S.
only. Subscribers within the last six months are not eligible.
http://www.123jump.com/partners.htm?id=86
------------------------------***-------------------------------

1. Overall Sentiment

The financial press spent the prior weekend while I was in
South Beach "apologizing" for Alan Greenspan's Jan. 11
remarks concerning the dim prospects for an economic
recovery in 2002.

Stocks continued to decline.

It took an actual appearance by the Maestro himself to give
stocks a boost. In an appearance before a Senate committee,
the Fed Chairman practically repeated his Jan. 11
statements. However, he also asked that the market
interpret them in a bullish light.

It did.

The result was three straight days of rally following a
sell-off on Tuesday in the holiday-shortened week of Jan.
21-25.

Those up days helped the popular indexes close out the week
with slight gains.

The value of my ShareBuilder plan of 33 stock positions
also closed out the week with a slight gain of less than
1%.

The big winner in this passive, buy-and-hold portfolio, for
the week was Alliant Tech (ATK).

In the sake of fairness, the biggest loser was Micro
General (MGEN).

That's encouraging, of course. But, where will investors,
mainly the institutional crowd, decide to place client
money after the flood of Q4 earnings results subsides?

Investor's Business Daily this past week noted that there
were net inflows of money into the overall market during
October and November. December's preliminary figures
indicate some net outflow of funds from both stocks and
bond funds.

Indeed, the rally since Sept. 21 appears to have stalled,
particularly for the larger capitalization issues in the
Dow 30 and the S&P 500. The mid and small cap averages,
although down from levels reached earlier this month, have
been hit less hard.

IBD also notes that money continues to flow into value and
small cap stock funds and away from large cap and growth
funds.

In the paper's "20 Rules for Investment Success" section,
Rule 19 says, "Find out if the market currently favors big-
cap or small-cap stocks."

A check of the daily new highs list does corroborate the
trend that smaller capitalization issues remain in favor.

First Data Corp. (FDC), an S&P 500 component, and currently
held in my ShareBuilder account, did reach new highs last
week.

That has been the exception rather than the rule.

Wednesday's CNBC Squawk Box segment featured a regular
guest economist from a Wall Street firm (can't recall the
firm, but does it really matter?)

The economist opined that that the "plan vanilla small and
mid cap companies" would treat investors well in 2002,
while the Big Dogs would experience a rough and rocky road.

Unless they're in the industry, many investors don't know
about these small and mid cap stocks. We tend to shy away
from the unfamiliar and prefer to stick with the familiar.

This worked during the roaring 90's. The bear market of
2000 and 2001, though, has taught us that celebrity stocks
can experience periods where only the most devoted of fans
stick with them.

The question investors must answer is: Will the market
continue to like plain vanilla, or it will gravitate to
chocolate, strawberry and the more exotic flavors?

More important, though, is how many scoops of plain vanilla
becomes one scoop too many?

For investors closely watching their "investment calories,"
it is something to ponder.

2. Observations

On my weekly Saturday taxi ride to the supermarket, the
price for a gallon of regular gas at the convenience store
on Market Street was $1.03.99, down a whole penny from last
week.

Perhaps prices have stabilized for the moment. In fact,
we're hearing the word 'stabilized" a lot these days in the
guidance offered by tech companies during the current
Earnings Season.

Tellabs (TLAB), the telecom equipment firm, comes to mind.
Reports by major brokers concerning the semiconductors,
particularly the equipment-making sector, maintain they
have seen the bottom.

When it cones to flavorings, in my view, it should be taken
with the seasoning of your choice.

Each Earnings Seasons also tends to produce some choppy, or
erratic, trading in stocks. Companies can report bottom-
line results that beat the forecast. Still, they sell off.

The usual excuse is that the speculators bought much
earlier on the rumor and sold on the news.

Sometimes, a good stock with rosy prospects will pull back
after reporting results because some Big Dog stock analyst
will say something like, "Yes, earnings beat our forecast,
but the profit margin for the past quarter was down 0.1%
from the prior quarter, and that has us worried."

So what else is new from Wall Street?

Meanwhile, IBD has begun a regular segment, "The Smart
Investor," that profiles individual investors who practice
its investing and analytical disciplines.

After reading this segment for the past few months, I have
come away with the understanding that these folks don't
practice the buy-and-hold approach - as I understand it.

Instead, they constantly look for opportunities to buy a
stock that is just beginning its initial break out to new
highs. Then they monitor its progress from a standpoint of
how volume relates to price.

This means that on average, they aren't strictly buy-and-
hold investors, intending to stick with a position for more
than a year, much less several years.

In its most general of terms, the best way I know how to
explain this approach is to remind regular readers of a
situation way back in the early 70's when I used to hang
out in a branch office of a regional retail brokerage firm
in a small town in North Carolina.

A broker was on the phone with a customer. He told the
customer, "A good stock is one that's going up, and a bad
stock is one that's going down."

William O'Neil, IBD's publisher, puts it this way: "All
stocks are bad. They're only good as long as they're going
up."

3. Portfolio Results & Changes

In his books, audio, and video productions, Bill O'Neil
advises that individual investors should maintain a
portfolio of just a few stocks.

This goes against the grain of what is known as "Modern
Portfolio Theory," an investment strategy that stresses
broad diversification.

Quite often, I hear the pundits on the TV stock market
channels say that an investor should put no more than 5% of
available capital into any one position.

What they are stressing is Modern Portfolio Theory, a
concept that was created in 1990.

This strategy is certainly suited for the so-called
"passive investor," or a person that doesn't have the time
to spend hours watching the CNBC tape or reading the three
sections of the Wall Street Journal from front page to back
page every day.

Indeed, diversification is a passive investor's best
friend.

Over-diversification, however, is a hazard for an active-
investor, or a person seeking short-term performance in his
or her positions.

The market only provides the active investor so many
opportunities to enter and exit with a nice gain. When that
opportunity is missed, due to watching too many stocks, the
overall results often suffer.

The stocks from the Ones to Watch Model Portfolio that I
inherited in February when I was assigned the task of
writing this newsletter, was eventually whittled down to
six stocks.

These six were purchased at the market open July 25. Six
months have passed.

Let's see how they've done, based on the Jan. 25 closing
price:

SEI Investments (SEIC), from 46.45 to 41.72, down 10%
Alloy Inc. (ALOY), from 15.37 to 19.74, up 28%
Pharmaceutical Product Development (PPDI), from 36.76 to
28.85, down 22%
Daktronics (DAKT), from 9.12 to 7.06, down 23%
EarthLink (ELNK), from 16.42, to 9.30, down 43%
SonicWALL (SNWL), from 20 to 20.36, virtually unchanged.

After six months, there is only one winner, Alloy Inc.,
which is somewhat of a surprise.

Internet fans should be familiar with EarthLink. Perhaps
that is the problem facing this sector of the economy and
the stock market.

The company continues to report deals and good news about
itself, but the bottom-line results from the quarter ended
Dec. 31, and the guidance says this ISP that has to
constantly has to compete against giant America Online
won't pass muster, despite favorable court rulings that
allows it access to the same POP telecom lines dominated by
AOL.

Daktronics is a micro cap company that makes electronic
scoreboards, a business that does well when times are good.

However, times aren't so good, and the company continues to
issue guidance that says future results, like EarthLink's,
that will fall short of Wall Street expectations.

I have to give up these stocks to what I suppose are the
bottom-fishers.

As the saying goes, "One man's junk is another man's
treasure."

As for the replacements that I hope will make up for a 43%
loss and a 23 ,respectively, here are the picks that I will
"purchase" at the market open on Wednesday, Jan. 30 (the
second day of a two-day FOMC meeting!):

Internet content company eUniverse (EUNI), a micro cap
company that is beginning to hit the so-called "radar
screen" of institutional type investors (read: micro cap
funds).

In a PR dated Jan. 24 from Los Angeles, the company
reported a Q3 profit versus a year-old loss and raised
guidance for both revenue and earnings for Q4 ending March
31, and for fiscal 2003.

The company recently acquired for between $50-$55 million
online advertising firm L90 (LNTY).

The second pick is PETsMART (PETM), the No. 1 pet products
chain. Tuesday, Jan. 22, the Phoenix-based firm raised
guidance for its fiscal Q4 sales growth and said that it
will consolidate its PETsMART.com into its overall
operations.

This company has been running a lot of TV ads lately to
retail customers, but the company is certainly more diverse
than that, having catalog operations that sell products to
the horse market.

Believe it or not, the U.S. horse market is bigger than one
might think. Giddy-up!

My water-stock portfolio purchased Aug. 1 - Tetra Tech
(TTEK), American Water Works (AWK) and SCP Pool (POOL) -
are all in the black, with the AWK being the best
performer, up some 30%.

I also initiated a position in Philadelphia Suburban (PSC),
a water utility, in my ShareBuilder plan on Jan. 22. I also
intend to add more shares in 2002.

The two retail positions taken on Jan. 3 - long Bed, Bath &
Beyond (BBBY) and short Tiffany & Co. (TIF) - have thus far
been an embarrassment.

BBBY was bought at 33.49 and closed Jan. 25 at 32.40 for a
paper loss of 3.25%. TIF was sold short at 31.05 and closed
Jan. 25 at 35.38 for a paper loss of 14%.

Bill O'Neil has said the stock market is neither efficient
nor rational.

Here's BBBY, a consistent 30% grower in the home furnishing
market giving positive future guidance, with a trailing 12-
month P/E ratio of 47 that I'm paying a 17% premium to own.
Meanwhile, TIF, famous for its Robin's egg blue gift boxes,
sells at a trailing 12-month P/E of 31, even though the
management projects a growth rate in 2002 in the single
digits.

I still track this Sweet 16? portfolio of high-profile tech
stocks that was created in late July. Space limitations
won't permit me to report on the latest results, but I will
provide a list of the group:

Business Objects (BOBJ), Veritas Software (VRTS), i2 Tech
(ITWO), Micromuse (MUSE), Alcatel (ALA), Nokia (NOK),
Comverse Tech (CMVT), Vodaphone Group (VOD), Genentech
(DNA), Network Appliance (NTAP), Check Point Software
(CHKP), EMC Corp. (EMC), Juniper Networks (JNPR), CIENA
Corp. (CIENA), BEA Systems (BEAS), Corning Corp. (GLW).

4. Alexander, Iliana & Maneva

A trio of 123jump.com correspondents recently issued
thoughtful reports on its home page.

Alexander Vantchev reported Jan. 15 on BEA Systems (BEAS),
which I track through the Sweet 16? In an e-mail, I
provided Alex with this group of 16 stocks and also made
particular mention of Business Objects (BOBJ), the French
business intelligence software firm.

Alex views BEAS as a survivor niche player in the
enterprise software space that can manage to hold its own
versus the Big Dogs - Oracle (ORCL), International Business
Machines (IBM) and, of course, Mr. Softee (MSFT).

BEAS is scheduled to report earnings in February, since it
operates on a fiscal that is one month after the
traditional periods that end in Dec.-March-June-Sept.

The URL for Alex's report:

SEE: http://www.123jump.com/story.htm?tory_id=13979

In some brief e-mail correspondence with Alex, I asked him
about the Russian stock market, the best performer of all
the world's exchanges in the past 12 months.

"And don't even look at Eastern European markets," Alex
replied, "if you don't know more than a lot about them.
They are not real, or at least they are much, much
different from those in the West. These numbers can be
anything local lords want them to be. Russian economy's
margins are virtual. Nickel Paladium (Norilsk Nickel) is
produced in Siberia by what is very close to slave labor.
Gas (Gazprom (OGZPF) just runs down a pipe and someone
controls the tap. In the East, the politicians control the
business and not the other way round as elsewhere."

Given what has happened with Enron (ENE), American
investors might tend to quibble with that last statement in
Alex's e-mail.

Speaking of the non-traditional fiscal year, the
overwhelming majority of American retail companies complete
their fiscal year Jan. 31.

They do this because of what they like to call the
Christmas Sell-Through Season that also accounts for the
period in January when they mark down items in order to rid
their shelves of excess (read: the stuff that didn't sell)
inventory.

In other words, when it comes to retail, investors should
be mindful of what I like to call the "Philadelphia
Department Store Marketing Philosophy" - Get it off the
shelf, it's been on the shelf too long.

Come February, 123jump.com's retail correspondent, Iliana
Sahandjieva, will have her hands full digesting the latest
financial results from this broad and diverse group that
actually makes up two-thirds of the U.S. economy.

On Jan. 22, Iliana issued a report on three discount
retailers, each with the name "Dollar" in their corporate
monikers.

SEE: http://www.123jump.com/story.htm?story_id_13985

Given what has happened to K-Mart (KM), one group of
financial pundits is saying that Wal-Mart (WMT), Target
(TGT) and the up-and-comer Kohl's (KSS), will continue to
take market share from the original creator of discount
retail, which was first known as E.J. Corvette's.

The other group of pundits is saying that by declaring
bankruptcy, K-Mart is a great speculation.

But, the same has already been said about Enron and Exodus
Communications. Monday, Global Crossing (GX) joined the
growing list of companies seeking Federal protection from
creditors.

Meanwhile, the retail distributor of lottery tickets gets a
little cut from each purchase.

In other words, buy it at 2 cents, sell it at 4 cents.

It's something to ponder. When it comes to getting that
"little cut from each purchase," I'll stick with the
position in my ShareBuilder plan of First Data Corp. (FDC).

Moving on to 123mump.com's third correspondent, Vanya
Maneva, we come to an emerging branch of technology known
as "nanotechnology."

SEE: http://www.123jump.com/story.htm?story_id=13983

In a report issued Jan. 21, I would have to agree with
Vanya's assessment of this technology that it is something
for the future, something along the lines of at least 10
years into the future.

Going back to an earlier time in 2000 when I used to
correspond with a colleague (prior to its purchase by
123Jump.com) about the biotech industry, I mentioned that
Watson & Crick discovered the double helix in 1954.

My colleague commented that it took nearly 40-45 years for
this scientific breakthrough to actually become a profit-
making enterprise for only a handful of biotech firms.

I think Vanya has provided a balanced, yet factual,
approach to this emerging branch of technology.

Of course, folks that have an interest in this field would
like to see Wall Street bring these companies public on an
ASAP basis, much like the dot-com mania IPO market of 1999.

So far, Wall Street is taking a "wait and see" approach.

Don't hold your breath for nanotech.

5. The Paradox of the Fed

As was promised in an earlier newsletter that I would make
comment about the Federal Reserve System, which we now
usually refer to as simply, "The Fed," it seems that the
more things change, the more that they appear the same.

Yes, we all know that Alan Greenspan, former Jazz musician,
has been at the helm of the world's most powerful Central
Bank for something like 18 years.

Still, I want to remind readers that the Federal Reserve
System was created through an act of the U.S. Congress in
1912.

There are what I would term "constitutional sticklers"
among the readership who maintain that this legislation,
were it ever to reach the U.S. Supreme Court, could
actually be declared unconstitutional.

We all know this won't happen - at least in the years that
I left as an inhabitant on the Big Blue Marble.

Given the recent comments from Alan Greenspan and how it
affected the stock market, I think that it is appropriate
that I include a passage from Richard Ney's "The Wall
Street Jungle," a book that was published in 1970, and is
now only available through used-book sources:

"Because the Fed is part of the 'financial community' under
the aegis of the Stock Exchange (see Chapter 9), the values
and the ideology of the Exchange have become absolute and
now impose themselves on the credit policies of the nation.
The Fed's wisdom in raising interest rates is now revealed
as no more than a myth: in the words of Congressman Wright
Patman, 'for the Fed to raise interest rates in order to
cure inflation is like pouring gasoline on a fire to put it
out.'"

I find it interesting that during 2000 and 2001, Alan
Greenspan constantly "bitched" about inflation as it
pertained to the price of a gallon of regular gas before
the various branches of the U.S. power structure, while
also providing his usual oblique explanations as it
pertained to the economic concept of "wage push inflation."

6. From The Readers

Larry W. e-mailed with the following comment about a stock
he's strong on (as is Wall Street) these days:

'I enjoy your comments and have been getting your e-mails
for a couple months. When you bought MIMS for your nieces,
I checked it the next day and [it] started down and I
placed a buy order at 10 to think to steal it on the way
down. It never filled and I now I kick myself for not
accepting the good fundamental and just buying with stops.
I later saw it in IBD highlighted in yellow."

Larry W. continues: "Another yellow stock is UTSI, which is
a California company with a near pure play on the wireless
market in China. Last fall, I did a tour of the major Asian
cities and could see the great amount of development. UTSI
has Asian officers in their mid-forties and a growth rate
of about 40%, but also a PE above that level. They report
earnings and have a webcast on Jan. 28, 1:30 PST. Visit
www.utstar.com. Keep up the reports and weekly trips to the
store.

Meanwhile, here's a URL, courtesy of Yahoo! Finance of
UTSI:

SEE:
http://finance.yahoo.com/q?s=UTSI&d=c&k=c1&a=v&p=s&t=6m&l=on&z=m&q=b

7. Sonny T's Latest Picks

Our ex-IBM employee turned full-time trader e-mails me
nearly every day about his stock picking/stock trading
system.

Sonny T wrote Sunday, Jan. 27, that his system is
increasing his positions from $10,000 to $11,000 per
position from a couple of weeks ago "to put the profit to
work.

In my view, this is a good trading strategy. Using the
profit to buy more stock actually results in what we are
all seeking: The Power of Compounding.

Or, as Albert Einstein put it: "The most powerful force in
the Universe (at least from an investment standpoint) is
the power of compound interest."

When it comes to investing, there are winners and losers.

For those folks who read IBD, particularly as it pertains
to the Smart Investor segment, there are folks out there
who make a personal commitment to be consistent winners.

Or, as Sonny T puts it in his latest e-mail: "My goal is to
make money. This system provides great opportunity, but the
trick is to refine a way to make money with it
consistently."

I like the way Richard Ney, as it pertains to investment
success, defined consistency: "Better a steady dime, than a
seldom dollar."

As for the picks, Sonny T says his system currently likes
AVNT, BZH, CHBS, CTX, DFXI, DHI, FCN, FRED, GISX, GTK, LEN,
MIM, RGIS, RIT, TTIL.

I find it fascinating that his system has picked Regis
Corp. (RGIS), a nationwide chain of hair salon studios.

Talk about a "plain vanilla stock"!

8. Basing Patterns

A colleague, Bob Howard, who publishes a monthly fee-based
newsletter from Springfield, MO that I receive for free,
calls his product, "Positive Patterns."

Bob is a buy-and-hold guy who won't back off from his stock
picks. One of them is a food stock, Smithfield (SFD). Talk
about a company that is "shareholder friendly," if you're a
person, to use the term this TV celebrity chef Emeril
LaGasse uses, "Pork Fat Rules," then Smithfield is the
stock for you.

As for this Basing Patterns business, Richard D. Wyckoff,
an early pioneer in technical analysis, was always on the
lookout for stocks moving sideways within a narrow range.

Investor's Business Daily often writes about stocks
displaying stock charts in basing patterns.

Like IBD, Wyckoff, who published a newsletter in the first
20 years of the 20th Century, was picky as it pertains to
"basing patterns.

Wyckoff and IBD share a common analytical criterion:
"tight", as opposed to "sloppy" base patterns.

In other words, the base should be in a rather narrow
range, which indicates that speculators are avoiding the
stock. It also implies that professional investors are
making careful bids for the purpose of accumulating a good
line of shares at a price that falls within a certain
target range.

Here are charts, courtesy of Yahoo! Finance, that display
what I like to call "Wyckoff Patterns."

SEE:
http://finance.yahoo.com/q?s=IMNY&d=c&k=c1&a=v&p=s&t=6m&l=on&z=m&q=b

SEE:
http://finance.yahoo.com/q?s=eclp&d=c&k=c1&t=6m&a=v&p=s&l=on&z=m&q=b

----------------------------SPONSOR-----------------------------
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and 10 FREE issues of Investor's Business Daily!
No obligation. Nothing to cancel. Offer available in the U.S.
only. Subscribers within the last six months are not eligible.
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------------------------------***-------------------------------

9. Comment Welcomed

A resident of Wilmington, NC, Dave Jennings performs market
research for Ticker magazine, a monthly publication for
financial professionals. Dave enjoys receiving reader
comment and replies to all e-mails. He can be reached at
djennings@ec.rr.com and djennings@ticker.com.

-----------------------------------------------------------
INTERNET STOCK NEWS (ISN) (c) 2001
Disclaimer: The material herein is for informational
purposes only and should not be deemed an offer or
solicitation on our part with respect to the sale or
purchase of any securities.
http://www.123jump.com/disclaimer.htm
-----------------------------------------------------------

-----------------------------------------------------------
You are currently subscribed to  Internet Stock News Daily as: alewis@enron.com
To Cancel your subscription please go to:
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To Change your subscription please go to:
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We are launching a number of committees to perform key functions across
Enron.  Enron,s breadth of activities and nonhierarchal organization make it
increasingly necessary to broaden the participation of Enron,s next
generation of leadership in the important decisions affecting the company.
Broadening participation will result in increased access to information as
decisions are made and will allow committee members to extend their working
relationships and influence throughout the company.

The committee charters and memberships are set forth below.  Not everyone
listed has been contacted in advance.  We urge you to serve if at all
possible, but, if you cannot, please contact the committee chair.

VP PRC

The VP PRC will continue to be responsible for evaluating the performance of
Enron,s Vice Presidents, determining promotions to Vice President, and
recommending promotions to Managing Director.  Additionally, the VP PRC will
review and propose changes to the PRC process, the performance evaluation
criteria and the promotion criteria.

The VP PRC will be chaired by Dave Delainey and its membership is as follows:

Tim Belden	Ben Glisan	Danny McCarty
Michael Brown	Joe Gold	Jeff McMahon
Rick Buy	Mark Haedicke	Rob Milnthorp
Wes Colwell	Jim Hughes	Matthew Scrimshaw
David Cox	Louise Kitchen	Jeff Shankman
Janet Dietrich	Michael Kopper	Richard Shapiro
Dave Duran	John Lavorato	Marty Sunde
Jim Fallon	Dan Leff

Analyst/Associate PRC

The analyst/associate PRC will be divided into 3 groups.  Enron Europe will
have the same committee evaluate analysts and associates.  This group will be
chaired by John Sherriff and its membership is as follows:

Pierre Aury	Kevin Heffron	Andreas Radmacher
Rob Bayley	Joe Hirl	Stuart Rexrode
Paul Chivers	Chris Mahoney	Marcello Romano
Markus Fiala	Christopher McKey	Bjarne Schieldrop
David Gallagher	Roy Poyntz	Ron Slimp
Bruce Garner	Paul Quilkey	Rob Stewart

The associate PRC for the Americas will be chaired by Stan Horton and its
membership is as follows:

Sally Beck 	Troy Henry	Kevin Presto
Jeremy Blachman	Sean Holmes 	Brad Richter
Don Black	Sean Long 	Stewart Seeligson
Dan Castagnola 	Rodney Malcolm	Hunter Shively
Joe Deffner	Scott Neal 	Jim Steffes
Kevin Garland	John Nowlan 	Andy Zipper
David Gorte	Ozzie Pagan

The analyst PRC for the Americas will be chaired by Steve Kean and its
membership is as follows:

Federico Cerisoli 	Mark Jackson 	Everett Plante
Jennifer Fraser 	Ben Jacoby 	Paul Racicot
Derrick Davies	Steve Jernigan 	Angela Schwarz
Scott Gahn 	Jay Lewis 	Ed Smida
Rod Hayslett	Cheryl Lipshutz 	Jon Thomsen
Rogers Herndon 	Michael Mann	Emilio Vicens
Brenda Herod 	Ed McMichael 	Frank Vickers
Kevin Howard 	Steve Meyers

Analyst/Associate Program

The most essential determinant of Enron,s continued growth is our ability to
attract and develop new talent.  The analyst/associate program has been the
biggest contributor to our success in this area.  Charlene Jackson, currently
leading our analyst/associate program, has taken a commercial position in
EES, account management organization.  We thank Charlene for her hard work
and many contributions to the program.  Going forward, this program will be
administered by a committee chaired by John Sherriff, CEO of Enron Europe.
The members of this committee are listed below.  Billy Lemmons, currently
Vice President of Enron Global Markets, will lead the day-to-day operations
of the program. Billy joined Enron in 1992, and has served in a variety of
commercial capacities across the company and has been an active participant
in the Associate /Analyst program.  Please join us in congratulating Billy on
his new responsibilities.

Phillip Allen	Andy Fastow	Eric Shaw
Robina Barker-Bennett	Kevin Garland	Hunter Shively
Rick Causey	Ken Rice	Stu Staley
Joe Deffner

Culture

We are combining the vision and values, diversity and corporate
responsibility committees into a single corporate culture committee chaired
by Ken Lay.  Cindy Olson, Beth Tilney and Kelly Kimberly will serve as
executive directors of this committee.  This committee will focus on
leadership and work-life issues (making it easier to attract and retain the
best talent), in addition to continuing the work of the vision and values,
diversity and corporate responsibility task forces.  The members of this
committee are as follows:

Greg Adams	Louise Kitchen	Mark Palmer
Shelley Corman	Michael Kopper	Paula Rieker
Janet Dietrich	Richard Lewis	Jeff Shankman
Jeff Donahue	Sean Long	Mitch Taylor
Gene Humphrey	Dan McCarty	Mike Terraso
Robert Jones	Jean Mrha

The Corporate Policy Committee will conduct the MD PRC and review the
recommendations of the other committees, giving substantial deference to the
decisions of those other committees.  We will be forming other committees to
deal with other significant functions, tasks and issues facing the company.


Could you please schedule a meeting for Wednesday, Thurs, or Friday with the
usual parties?

Thanks,

Eric
---------------------- Forwarded by Eric Bass/HOU/ECT on 01/31/2000 08:21 AM
---------------------------

Sean Kiehne@ENRON
01/29/2000 11:10 AM
To: Eric Bass/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, David
Oliver/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT
cc: Jennifer Stevenson/AA/Corp/Enron@Enron, Sharon Roest/AA/Corp/Enron@Enron,
Brent A Price/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Mark
Friedman/HOU/ECT@ECT
Subject: January earnings

We would like to meet with each of the regional desks to discuss gas January
earnings.  Please email or call Sharon Roest to schedule a meeting time.

Please call with any questions.

Thank You,

Sean
3 3928


Our Sacramento correspondent just exited a news conference from
Gov. Davis, FERC chair Hoecker, DOE Sectretary Richardson and
others outlining several emergency measures, including west-wide
price cap. As soon as her report is filed, we'll be sending it to your
attention. I expect that will be around 2:30 pm.


you bet.

	Nancy Sellers <Nancy.Sellers@RobertMondavi.com>
	03/19/2001 10:26 AM

		 To: Cameron <cameron@perfect.com>, Jeff Dasovich <Jeff_Dasovich@enron.com>,
"Prentice @ Berkeley" <PSellers@haas.berkeley.edu>, Prentice Sellers
<PSellers@pacbell.net>, Scott Laughlin <scottwl@hotmail.com>
		 cc:
		 Subject: TY

thanks for coming home - it was so fun to see you all!  Do you think a couple
of us could carry on a 3 pack of wine so we could have a little more than 1
case for the 6 of us??
Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


Benjamin:

>My name is Ben Rogers and I am currently applying to
The Texas Business School.
I am coming to visit the
school on Friday, Feb. 18th and was wondering if you had time to talk to
me about the Energy/Corporate Finance Program.

I would be pleased to meet with you in the morning hours of Fri.

Ehud Ronn

==============================================
     Ehud I. Ronn
     Department of Finance
     College and Graduate School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


ethology (ee-THOL-uh-jee) noun

   The study of animal behavior in their natural environments.

[From French ?thologie, coined by Isidore Geoffroy Saint-Hilaire, zoologist
(1805-1861).]

   "Field biologists such as Poole and Goodall, who've each spent decades
   studying the behavior of animals in their natural habitats, do not doubt
   that elephants, chimpanzees and other creatures feel intense, humanlike
   emotions - from happiness, sadness and anger to perhaps even love and
   embarrassment... Research by (Marc) Bekoff and others - in fields
   ranging from ethology to neurobiology - is beginning to provide
   scientific support for the notion that animals feel a wide range of
   emotions."
   Laura Tangley, Natural Passions, International Wildlife (Vienna),
   Sep/Oct 2001.

This week's theme: coined words.

Today's AWAD is brought to you 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
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............................................................................
God Himself, sir, does not propose to judge a man until his life is over.
Why should you and I? -Samuel Johnson, lexicographer (1709-1784)

Send your comments to anu@wordsmith.org. To subscribe or unsubscribe, send
a message to wsmith@wordsmith.org with "Subject:" line as "subscribe <Name>"
or "unsubscribe". Archives, FAQ, gift subscription form, bulletin board,
and more at http://wordsmith.org/awad/

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


Jeff;  I returned home from a weekend visit to New Kensington and Pittsburgh
as I attended my 60th High School Reunion.  About 60 class members were there.
         The houses I grew up in and the old Neighborhoods are much smaller
than I remember;  the hills are higher and steeper than I remember; and my
former classmates are much older than I.  I have slept 10-12 hours each night
since I am back and am almost rested.  Thank goodness I flew to Pittsburgh as
I would really would have been a basket case if I had driven.  I did have a
good time.
        Jeff, I have been keeping up with your problems in California thru
various business web sites.  The pie incident sure points out the mentality
of some of Enron's critics.  You may end up a martyr before it is all over.
From what I can observe the Californians are getting little sympathy outside
their own state.  I am sure Enron is getting a lot of undeserved criticism
but I believe most think it is their own fault.  I only hope the whole mess
blows over so you can turn your full attention to you normal pursuits.
       Both Mother and I send our love          DAD


Attention All:

TrizecHahn (building property management) will be turning off the 12th floor water to restrooms and
water fountains at 6pm this evening.

They're doing demo work on another floor and need the water turned off temporarily.
The water supply should be restored by tomorrow morning.

Thank you,

Laura L. O'Keefe
Executive Assistant
Bridgeline Holdings, L.P.
333 Clay St., Suite 1200
Houston, TX  77002
(832) 851-2802 Direct
(832) 851-2772 Fax


This is an automatic confirmation of the order you have placed using IT
Central.

Request Number:   ECTH-4RSTT6
Order For:               Vince J Kaminski

1 x ( OPTION: 128MB UPGRADE FOR DESKPRO EN 6600     $129 )
1 x ( Standard Desktop     $1262 ) Enron IT Purchasing


Cant - I have friends coming in from Calgary.       I went to a great course yesterday;   Glenloch Farms is not too far from the Woodlands and was a cool layout.   We will have to go when I get free.

JMF

 -----Original Message-----
From: 	"Jacobucci, Scott" <Scott.Jacobucci@ElPaso.com>@ENRON [mailto:IMCEANOTES-+22Jacobucci+2C+20Scott+22+20+3CScott+2EJacobucci+40ElPaso+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, September 04, 2001 12:33 PM
To:	Forney, John M.
Subject:

John, are you planning on playing any golf this weekend?

Scott Jacobucci, P.E.
Project Engineer
El Paso Merchant Energy
office(713)420-1287 cell(713) 594-7924

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


Hello everyone,

Attached is the market wrap for the week of November 2nd. If you have any questions or need additional information you can contact me at ext. 5-1510.

thanks and have a nice day,
Monika Causholli


Hi Sara and Ed!
ConEd wants to get going on an ISDA , in parallel to adjusting as necessary
the long form for the upcoming transaction.  They believe that the ISDA will
not be negotiated in time for when they want to execute, thus the parallel
documents.
Regarding the annex, the uncoming deals could potentially be swaps, collars,
or participating swaps.
I think they are quite eager to hear our response.
Thanks,
Janelle
 -----Original Message-----
From:  "Forte, Michael" <FORTEM@coned.com>@ENRON
[mailto:IMCEANOTES-+22Forte+2C+20Michael+22+20+3CFORTEM+40coned+2Ecom+3E+40ENR
ON@ENRON.com]
Sent: Tuesday, April 10, 2001 4:00 PM
To: Scheuer, Janelle
Subject: Con Edison Form of ISDA Agreements

  Janelle,

>     Attached for Enron's review are Con Edison's form of the ISDA Master
> Agreement Schedule, Credit Support Annex, Form of Guarantee, and Letter of
> Credit Form.
>
>              <<Con Edison - ISDA Schedule 041001 draft.doc>>  <<Con Edison
> - Credit Annex 041001 draft.doc>>  <<Con Edison Form of Guarantee.doc>>
> <<Con Edison Letter of Credit Form 041001 Draft.doc>>
>
Thank you and have a great day!
Michael

 - Con Edison - ISDA Schedule 041001 draft.doc
 - Con Edison - Credit Annex 041001 draft.doc
 - Con Edison Form of Guarantee.doc
 - Con Edison Letter of Credit Form 041001 Draft.doc


Please print, place in folder (surprise, not a binder!) labeled CRRA Fuel
Cell Agreements.  Thanks!!
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/11/2000 03:34
PM ---------------------------

Stephen Plauche
09/11/2000 12:35 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: LOI and Development Agreement re: CRRA

FYI...

Stephen
---------------------- Forwarded by Stephen Plauche/Corp/Enron on 09/11/2000
12:35 PM ---------------------------

	From:  Lisa Zarsky @ ECT                           09/11/2000 12:03 PM

To: Stephen Plauche/Corp/Enron@Enron
cc:

Subject: LOI and Development Agreement re: CRRA

---------------------- Forwarded by Lisa Zarsky/HOU/ECT on 09/11/2000 12:02
PM ---------------------------

Brenda Whitehead
09/08/2000 10:41 AM
To: Scott Healy/HOU/ECT@ECT
cc: Barton Clark/HOU/ECT@ECT
Subject: LOI and Development Agreement re: CRRA

per the request of Bart Clark, please see these attachments:


Make sure Rogers is at this meeting.

 -----Original Message-----
From: 	Gilbert-smith, Doug
Sent:	Friday, September 28, 2001 12:57 PM
To:	Presto, Kevin M.
Subject:	RE: Cities Aggregation Power Project Visit - Monday, October 1

this goes back to my question on the portfolio. We cannot serve these customers from the get go as effectively as the incumbent portfolios so we are going to have to make the decision somewhere that we want the load and that we will need some 'loss-leaders'. I am working on this for our own deals and this will be reflected in our curves.

I have not heard anything more on the deals lost since the last report showing we were pretty competitive. If they have a problem with the curves I would like to hear it directly. I have a meeting with Janet next week and I will go over this issue and the Ader issue then.

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Friday, September 28, 2001 12:51 PM
To:	Gilbert-smith, Doug
Cc:	Curry, Mike
Subject:	RE: Cities Aggregation Power Project Visit - Monday, October 1

We are losing lots of deals in ERCOT on price.  This is part of the reason they are being so aggressive with customers and alternative suppliers.   I have received this feedback directly from Rogers and Janet.

 -----Original Message-----
From: 	Gilbert-smith, Doug
Sent:	Friday, September 28, 2001 12:40 PM
To:	Presto, Kevin M.
Cc:	Curry, Mike
Subject:	RE: Cities Aggregation Power Project Visit - Monday, October 1

thanks for the info.

Until we straighten this out internally we will just look ridiculous in front of the customer. Once again, this is an obvious wholesale product. I am happy to compete on price, the question is how much damage does this do externally.

Doug

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Friday, September 28, 2001 11:50 AM
To:	Curry, Mike; Gilbert-smith, Doug
Subject:	FW: Cities Aggregation Power Project Visit - Monday, October 1

Looks like Ader & Co. at work in ERCOT.   I view this as a big problem.   These customers need to be covered by wholesale.   Both of you should take this as a slap in the face.

 -----Original Message-----
From: 	Brockwell, Jennifer
Sent:	Friday, September 28, 2001 10:31 AM
To:	May, Tom
Cc:	Presto, Kevin M.; Black, Tamara Jae
Subject:	Cities Aggregation Power Project Visit - Monday, October 1

Tom,
Will you be available for the following visit?  This is another large group...  In order to keep this from being disruptive, we were thinking of dividing the group into two for two separate overviews.  These overviews should only be 10 minutes in length.  One would be at 11:00 am and the other at 11:15 am.

Let me know if this is a possibility.

Thanks.
Jennifer

Date:		Monday, October 1
Time:		11:00 am
Visitor:		Cities Aggregation Power Project (17 of them)
Enron Host:	Michelle Robichaux, Representative National Energy Sales

Value Prop:	EES is looking to provide electric commodity savings off the PTB for an aggregated load of 70 Texas municipals.

Objectives:	I would like CAPP to leave knowing just how different Enron is from its competitors.  This would include Enron's risk management expertise and size and scope of marketing of gas power and other commodities.

Jennifer Brockwell
Enron Corporate Marketing
1400 Smith Street
Houston, TX 77002
713-345-7358
713-853-6790 fax
jennifer.brockwell@enron.com


i will try to call and talk you thru this


You forget that I have a sister-in-law with many single women friends beyond
the age of 30 who actually have attempted to change their dating luck with
this book.  I think the very fact they read/apply this book is a great
indication of why they are still unattached.  Everybody knows the fastest way
to a man's heart is through espn and college football the prerequisite being
of course the lady has the Southern charm/accent, blonde hair and preferably
blue eyes (but hazel will do in a pinch assuming everything else is there).
See, men are not that selective or demanding.


FYI.  Commonwealth Energy is adding a new meter to their existing contract.
The meter number is not know at this time.  The well name is Goodwin and is
located in Barbour County, West Virginia.  This meter will be behind the
Bridgeport Agg point and is expected to do about 15 dths a day.

Thanks,
Heidi


Shirley,

Voucher # 0100015652  for  $359.78

Vince


Please be advised that a manual adjustment will need to occur on ENA's contract 24924.  The deal was structured whereby TW would receive a marketing fee equal to 50% of the rate negotiated in excess of the original contracted rate between ENA and TW; the other 50% goes to ENA.

Here's the basics:
ENA's contract with TW is at a daily rate of $0.0600 (one-part)
The release to Burlington is at a daily rate of $0.1020 (demand only plus applicable commodity and fuel based on usage)
TW will bill Burlington through normal course of business (reservation of $71,400 [$0.1020 x 25,000 x 28days] plus applicable commodity fees)
ENA demand invoice will need to be adjusted so that they only receive a capacity release credit of $56,700 [($0.1020 - $0.0210) x 25,000 x 28 days] Amy -  please do an adjustment of the capacity release rate by inputting a discount of $0.0210 for this line item on the manual invoice.
Richard - When payment is received from Burlington for their acquisition, please process the credit amount of $14,700 to ENA.
TW will need to book marketing fee revenues of $14,700 [$0.0210 x 25,000 x 28 days]  Richard - Has a separate account been established for these revenues?

If you have any questions, please let me know.

Elizabeth

 -----Original Message-----
From: 	Brown, Elizabeth
Sent:	Wednesday, February 27, 2002 8:29 AM
To:	Giambrone, Laura; Hernandez, Bert; McEvoy, Christine; Miller, Beverly; Miller, Christopher L; Minter, Tracy; Mulligan, Amy; Ward, Linda; Donoho, Lindy; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Watson, Kimberly; McConnell, Mark; Y'barbo, Paul; Buchanan, John
Cc:	Dietz, Rick; Lee, Dennis
Subject:	Transwestern Capacity Release Report for February 2002 Reservation Invoices

Attached is the file to be used for demand invoice verification for January 2002 capacity release transactions.  If you have any questions, please feel free to contact me.

FYI - Based on the flash invoices I generated last night for the capacity release transactions and global settlement contracts, please note the following:
ENA K #24924 Res - manual rate adjustment is needed for the 50/50 split of marketing fees for capacity released to Burlington
Conoco K #20748 Res - delete the Thoreau to E. Thoreau line item
Conoco K #20835 Comm - delete authorized overrun line items and roll volumes up to the commodity charge type
Texaco K #25923/25924 Comm - when verifying fuel rate of 4.5% between the lateral and mainline contract sched volumes, there is a ldifference that could not be attributed to rounding.  Need to verify if difference is caused by makeup volumes; and if delivery makeup scheduled, then invoice should be adjusted accordingly.

Please remember that the notes above are based on data as of 2/26/02.  I will review again on the 1st.

Schedulers -  Please provide a final copy of the delivery tolerance report to both me and Marketing so it can be determined if makeup will affect the rate to be charged [some contracts are based on calculations, especially when charging incremental fees for alternate point usage].

 << File: TW2002.02.XLS >>

Thanks,
Elizabeth
x3-6928


Please disregard the referenced meeting notification, this is a managerial
staff meeting.

Nicole


-----Original Message-----
From: Gil Cisneros [mailto:coa@attglobal.net]
Sent: Monday, January 14, 2002 1:54 PM
To: ****Gil Cisneros
Subject: COA's newest member: Welcome Rocky Mountain Transload, Inc.

Rocky Mountain Transload, Inc., is a full service freight transportation
source serving the Western United States.  Based in Denver, Colorado, they
specialize in rail and truck transportation of industrial minerals,
agricultural products, and manufactured goods.  Throughtout their network
of rail facilities and trucking companies they can deliver throughout the
United States and Canada.

Goal of becoming a member of the Chamber/Americas:  to foster trade among
the residents of these countries.  Their more specific goal would be to
develop rail or container shipments between the Rocky Mountain region of the
United States and Latin America.

Contact:  Walter L. Sanders, President, Rocky Mountain Transload, Inc.,
303.808.4607, Fax:  303.554.8385, walt@rmtransload.com
www.rmtransload.com

Gilberto (Gil) M. Cisneros
President & CEO
Chamber of the Americas (COA)
12211 West Alameda Parkway, #203
Denver, CO  80228-2825
Tel:  303.986.9410
Fax:  303.986.9405
Cel:  720.296.8461
Toll Free:  1.800.375.8884, X-219
coa@attglobal.net
www.chamberoftheamericas.com


The attached word document summarizes the discussion of a possible steel
futures contract at our meeting on 12/13/00.  Please respond with any
comments or suggestions.  Thank you for your help.

Art  Bieser


Centerline description

> -----Original Message-----
> From:	Melanie Arnold [mailto:marnold@mphinc.com]
> Sent:	Wednesday, September 26, 2001 9:29 AM
> To:	'KWebster@eprod.com'
> Subject:	EXHIBIT "B" (DONALD BLANCHARD)
>
>  <<EXHIBIT B 09-26-01.doc>>

 - EXHIBIT B 09-26-01.doc


Did you get my message about the books?


Attached.

Have a great week!

Michelle
(403) 299-3862


I was forwarded a copy of Fernley's announcement regarding your new role for
Global Products Trading Support.  Your discussions in Houston last week must
have swayed you to accept the challenges that are there.  Congratulations on
your new role.  As you step into your new position, please let me know how I
can best support you in my role over Global Risk Management Operations.  I am
forwarding  a copy of the announcement regarding my expanded role that was
sent out in January.  Assuming that you were not paying particular attention
to trading operations issues at that point in time, this may be one of those
e:mail messages that you skipped.  I thought that it might be helpful for you
to understand the focus that I will have in working with trading operations
groups around the globe.  I certainly will look forward to working with you,
Tim and Kevin.

I understand that Kevin will move into a role that is focused full-time on
systems implementation.  Who will assume the day-to-day lead responsibility
for Global Products trading operations in Houston and how will that
individual report in to you?

I will be in the London office during the week of March 20.  I will leave
Houston on Sunday evening, so that I should be in the office by noon on
Monday.  I plan to be there through Thursday evening.  Let me know if you
will be in town that week, so that we can schedule some time together.
--Sally

---------------------- Forwarded by Sally Beck/HOU/ECT on 03/09/2000 09:55 AM
---------------------------

	Enron North America Corp.

	From:  Rick Causey @ ENRON                           01/17/2000 06:04 PM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: Global Risk Management Operations

Recognizing Enron,s increasing worldwide presence in the wholesale energy
business and the need to insure outstanding internal controls for all of our
risk management activities, regardless of location, a global risk management
operations function has been created under the direction of Sally W. Beck,
Vice President.  In this role, Sally will report to Rick Causey, Executive
Vice President and Chief Accounting Officer.

Sally,s responsibilities with regard to Global Risk Management Operations
will mirror those of other recently created Enron global functions.  In this
role, Sally will work closely with all Enron geographic regions and wholesale
companies to insure that each entity receives individualized regional support
while also focusing on the following global responsibilities:

1. Enhance communication among risk management operations professionals.
2. Assure the proliferation of best operational practices around the globe.
3. Facilitate the allocation of human resources.
4. Provide training for risk management operations personnel.
5. Coordinate user requirements for shared operational systems.
6. Oversee the creation of a global internal control audit plan for risk
management activities.
7. Establish procedures for opening new risk management operations offices
and create key benchmarks for measuring on-going risk controls.

Each regional operations team will continue its direct reporting relationship
within its business unit, and will collaborate with Sally in the delivery of
these critical items. The Houston-based risk management operations team under
Sue Frusco,s leadership, which currently supports risk management activities
for South America and Australia, will also report directly to Sally.

Sally retains her role as Vice President of  Energy Operations for Enron
North America, reporting to the ENA Office of the Chairman.  She has been in
her current role over Energy Operations since 1997, where she manages risk
consolidation and reporting, risk management administration, physical product
delivery, confirmations and cash management for ENA,s physical commodity
trading, energy derivatives trading and financial products trading.

Sally has been with Enron since 1992, when she joined the company as a
manager in Global Credit.  Prior to joining Enron,  Sally had four years
experience as a commercial banker and spent seven years as a registered
securities principal with a regional investment banking firm.  She also owned
and managed a retail business for several years.

Please join me in supporting Sally in this additional coordination role for
global risk management operations.


Anne,

Actually, I'm not sure whether I want Gas Daily Index's or Physical Index's...Gas Daily preferably.  A list or the file you use would be great.  Thanks.

Mat

 -----Original Message-----
From: 	Bike, Anne
Sent:	Thursday, September 27, 2001 2:10 PM
To:	Smith, Matt
Cc:	Frank, Carole
Subject:	RE: curve codes

Sure I can have Carole give you a list, or show you the file we use to load the index curves.  I assume you mean physical index.

 -----Original Message-----
From: 	Smith, Matt
Sent:	Thursday, September 27, 2001 1:27 PM
To:	Bike, Anne
Subject:	curve codes

Anne,

Hey, do you know where i might get a list of the curve codes in the Oracle database for west index curves?

Mat


Just a note  that all Michcon deals need to be entered as MICH/Michcon Other/1130.  This is the generic meter we are using for all buys and sells on Mich.  Thanks!

I have changed the following deals:

810123
810126
810128
810130

Cora


Not clear if you all received this directly.
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Nancy,

Attached is a document in draft form addressing some of the issues discuss in
our recent meeting.

(See attached file: Draft contract changes july24.doc)

 - Draft contract changes july24.doc


Hook 'em!


__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/
 - viccam1.jpg


Lucy:
I heard back from Mark and he seemed receptive to our suggestion to consider
you for the legal asst. position.  Sounded like he wnted to think about it
over the weekend.  I'll keep you posted.
Carol


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

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

OPEC Basket of Crude     http://www.carrfut.com/research/Energy1/opec50.pdf

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


FOLLOW ME TO FINANCIAL FREEDOM!!

I Am looking for people with good work ethics and extrordinary desire to earn at least $10,000 per month working from home!

NO SPECIAL SKILLS OR EXPERIENCE REQUIRED. We will give you all the training and personal support you will need to ensure your success!

This LEGITIMATE HOME-BASED INCOME OPPORTUNITY can put you back in control of your time, your finances, and your life!

If you've tried other opportunities in the past that have failed to live up their promises, THIS IS DIFFERENT THEN ANYTHING ELSE YOU'VE SEEN!

THIS IS NOT A GET RICH QUICK SCHEME!

YOUR FINANCIAL PAST DOES NOT HAVE TO BE YOUR FINANCIAL FUTURE!

CALL ONLY IF YOU ARE SERIOUS!

1-800-533-9351 (Free, 2 minute message)

DO NOT RESPOND BY EMAIL AND DON'T GO TO SLEEP WITHOUT LISTENING TO THIS!

" The moment you commit an quit holding back, all sorts of unforseen incidents, meetings and material assistance will
rise up to help you. The simple act of commitment is a powerful magnet for help." - Napoleon Hill

To be REMOVED from this list, simply click reply and submit.


Has the deal between you and Patrice been booked?

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 06/24/2000
09:14 PM ---------------------------

Richard Tomaski@ENRON
06/13/2000 05:37 PM
To: Patrice L Mims/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT
cc: Laura Luce/Corp/Enron@Enron, Russell E Murrell/Corp/Enron@Enron
Subject:

After discussion with Patrice, here is the finalized agreement for the
day-ahead purchase deal (between ENA-central desk and EMW) for the Wilton
Plant.

Location:  Northern Border (Wilton) to become MEH pooling point
Price:        GD chicago large end-users plus $.015 or GD northern border
chicago point if one becomes available
Term:        6/1/2000 thru 9/30/2004
Volume:  0-75,000 mmbtu/daty
Notification: by 9:15 am of trade date

Any volumes greater than 75,000 up to 120,000 will be priced at Patrice's
purchase price plus $.015

I will draft a simple letter for both parties to sign, as a matter of record
keeping.  Call me if you have any questions.  Thanks

Richard


----- Forwarded by Jeff Dasovich/NA/Enron on 02/08/2001 10:13 AM -----

	Susan J Mara
	02/08/2001 12:47 AM

		 To: Jeff Dasovich/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Paul
Kaufman/PDX/ECT@ECT
		 cc: Joseph Alamo/NA/Enron@Enron
		 Subject: RE: LA Times story

Good story on retail -- as a direct result of ARM's hiring of Edelman.  Some
good Lay and Robert Michaels' quotes.
----- Forwarded by Susan J Mara/NA/Enron on 02/07/2001 10:42 PM -----

	"Counihan, Rick" <rick.counihan@greenmountain.com>
	02/07/2001 01:09 PM

		 To: "'Allen, Stevan'" <stevan.allen@edelman.com>, "Counihan, Rick"
<rick.counihan@greenmountain.com>, "Aaron Thomas (E-mail)"
<athomas@newenergy.com>, "'ARM List Serve'" <Arm@phaser.com>
		 cc: "Warner, Jami" <jami.warner@edelman.com>, "Beiser, Megan"
<Megan.Beiser@edelman.com>, "Fairchild, Tracy" <tracy.fairchild@edelman.com>
		 Subject: RE: LA Times story

This story is fantastic!!  It is the best single piece I have seen on the
retail market in California and it is in the newspaper of record.  I think
we should make copies and hand them out in our press packets and all
meetings we have.  I think this is a concrete example of a payoff from
working with Edelman.

-----Original Message-----
From: Allen, Stevan [mailto:stevan.allen@edelman.com]
Sent: Wednesday, February 07, 2001 9:31 AM
To: 'Rick. Counihan (E-mail); Aaron Thomas (E-mail)
Cc: Warner, Jami; Beiser, Megan; Fairchild, Tracy
Subject: LA Times story

http://www.latimes.com/business/reports/power/lat_retail010207.htm

This piece ran front page of this morning's LA Times. It refers to provision
of AB1X we are concerned about. Also, Enron gets a lot of attention. I will
have this forwarded to the entire team later this morning. Thanks.

Stevan

PS - Bryson is having a news conference this morning in Sac. Will keep you
posted.

Deregulation Didn't Foster Competition

By NICHOLAS RICCARDI and STEVE BERRY, Times Staff Writers

The way people scrambled for a stake in California's power market three
years ago, you'd have thought it was the second coming of the Gold Rush.
Politicians and free marketers boasted that they were freeing millions of
customers from their monopolistic utilities so they could shop for cheaper
electricity. The state ordered an $87-million publicity campaign, promising
a brave new energy world bustling with competition.
But those dreams of capitalism unleashed never materialized, dashed by
provisions in the 1996 deregulation law that effectively undermined
competition and gave the utilities a substantial edge over newcomers. In the
end, only 1.7% of the utilities' residential users switched to other
providers, many opting to pay more for "green" energy.
Although the chaos swirling around California's electricity crisis has
chiefly focused on soaring wholesale prices, the virtual absence of
competition at the consumer level has played a key role in deregulation's
undoing.
Had competition among retailers flourished, garnering the millions of
customers deregulators expected, prices might never have reached today's
unprecedented peaks and the turmoil might have been tempered, economists and
retailers say.
Retail competition "would not have prevented a crisis, but it would have
toned it down," said Richard Counihan, spokesman for Green Mountain Energy,
which has returned most of its 50,000 customers to the utilities' ranks.
Now even the prospect of competition is gone. A measure enacted by the
Legislature last week, which made state government the biggest electricity
buyer in California, suspended further retail competition, preventing anyone
from underbidding the state.
"That buries us," said Tony Wayne, president of UtiliSource of Brea, which,
under the new law, can keep its relatively small number of customers but is
barred from entering into new contracts.
Few thought it would come to this.

High Hopes Collide With Reality
Almost 300 firms registered with the state to sell electricity to consumers.
Many of them, quick-buck hucksters or small-time operations, were scared off
by background checks, fingerprinting and the $25,000 deposit required to
enter the market.
But then there were the likes of giant Enron Corp., which predicted that the
new market would pull 700,000 customers from the utilities in the first few
weeks. Another firm deployed 400 salespeople, nabbing residential and
business prospects by the thousands.
They quickly discovered that the structure of California's landmark
deregulation effort erected protective barriers preventing most retailers
from beating the prices of the big three utilities--Southern California
Edison, Pacific Gas & Electric and San Diego Gas & Electric.
For example, deregulation law allowed the utilities to keep their 9 million
customers until each took the initiative to switch. Any ratepayer who used a
moderate amount of energy and wanted to change companies had to pay $600 for
a new meter--unless the retailer wanted to eat the cost itself.
In contrast, Pennsylvania, where deregulation has been more successful than
in California, requires most of its utilities to surrender some of their
customers. Last year, 300,000 customers of one utility were auctioned off to
the retailer who could promise them the most savings. All together, close to
1 million customers have switched from utilities to retailers, with savings
estimates ranging from a few dollars to $15 per month.
In California, the next barrier was expressly designed by deregulation
architects to keep new retailers at bay, at least temporarily.
Before throwing utilities into a free-for-all, lawmakers felt obligated to
give them time to pay off debts that would hurt their ability to offer
competitive prices. The Legislature froze customer prices at 1996 levels,
well above what the utilities were then paying for electricity. The
difference would be used to pay their debts.
The hitch for prospective retailers was that their customers--like those
remaining with utilities--would be charged the extra amount too. That
seriously hurt the retailers' ability to shave prices for their customers
without taking a hit themselves.
Utility executives say the so-called competition transition charge
accomplished its intent: providing some protection against new players until
the utilities could shed their debt and compete on an even field.
According to those executives, the plan went awry when wholesale electricity
prices soared before the special debt charge was lifted and competition had
a chance to flourish.
"We haven't had enough time for this market to work," said Denise Grant,
director of the Edison division that works with retailers. She said Edison
expected to lose 150,000 customers annually--a far cry from what has
happened.
Retailers say they faced other obstacles that seemed designed to help the
utilities keep as many of their customers as possible.
One of the biggest was a newly created energy marketplace called the Power
Exchange.
Under the exchange's rules, all buyers--little guys with a few hundred
customers and mammoth utilities with millions--paid the same price for
electricity. Once again, retailers were stymied in their search for ways to
cut their customers' bills.
Retailers had no place else to shop for energy because suppliers could make
more money selling in high volume to billion-dollar utilities on the Power
Exchange, rather than cutting small deals with upstart companies.
Wayne, the president of UtiliSource, learned the hard way. He was peddling
electricity in California in early 1997, before the state created the Power
Exchange. After arranging a good, but informal, deal with a Washington
generator, he sent out hundreds of salespeople, took to the road himself and
soon cornered 10,000 customers.
But the birth of the exchange caused the death of his deal, Wayne said. The
generators pulled out when they realized how much money they could make
selling on the open market.
"That was an oh-my-god. They said, 'Why should we give you a discount when
we can sell it to the Power Exchange ourselves?' " he said.
Retailers say the state protects the utilities in subtler but no less
damaging ways. That includes billing customers who switch companies for
certain overhead costs of their old utilities, such as weather forecasters
and accountants involved in procuring electricity.
In late 1999, a coalition of retailers filed a complaint with the Public
Utilities Commission arguing that their customers should not be forced to
pay costs for utilities they had decided to leave.
Earlier this month, the PUC finally reached a decision that favors the
retailers' argument but accepts the utilities' calculations of the expenses
borne by retailers, an amount critics say is far too low.
In dissenting, Commissioner Richard A. Bilas called the decision's paltry
award to retailers another strike against them.
"We cannot keep stymieing retail competition if we are seeking rational
markets," he said. "Energy service providers [retailers] have left the state
in droves. . . . They need all the encouragement we can give them."

Retailers Found Little Opportunity
Be they multinational giants or kitchen-table entrepreneurs, retailers are
dismayed by their experiences with deregulation.
Enron spent $5 million trying to sell electricity in 1997 and the spring of
1998. But, unable to offer enticing discounts, the firm picked up only
30,000 customers.
In a recent meeting with reporters and editors at The Times, Enron Chief
Executive Kenneth Lay suggested that the framers of deregulation kept market
forces pinned down in the retail sector. As a result, there was little money
to be made and little incentive to stick around.
"The more customers you signed up," Lay said, "the more [money] you lost."
Last week, Enron returned a number of its remaining electricity contracts to
PG&E. "In the end," Lay said, "we couldn't change the rules and we pulled
out."
On the other end of the spectrum, Paul Oshideri is now a one-man operation
since he laid off his seven employees during his unprofitable two years
trying to entice customers to Cucamonga Energy.
"You don't have that many options," said Oshideri, who is still holding on
to his 250 customers and vows not to quit. "What can you do? You can't do
anything right now."
Only when it came to businesses and big institutions such as universities
were retailers able to make a dent in the market. The small price reductions
they offered translated into huge savings for those large users of
electricity. The retailers also offered a variety of other services,
including aid to help businesses become more energy efficient.
Although fewer than 2% of all residential customers have switched to new
energy companies, 13% of industrial users have done so, according to the
Public Utilities Commission.
"If they'd structured this differently they would have had households able
to make big savings just like industrials," said Cal State Fullerton
economist Robert Michaels.
There is some dispute among deregulation critics over whether legislators
designed the law to protect the utilities from an onslaught of competition,
or it just turned out that way.
Jesse Knight, a former member of the Public Utilities Commission who
dissented on the panel's deregulation plan, said the law is biased against
retail competition.
"But I don't think it was the legislation's intent to protect the monopoly,"
Knight said.
There is general agreement, however, that not enough attention was paid to
the mechanics of the retail market.
Much of the deregulation legislation deals with generation, transmission and
wholesale prices of electricity. The only provisions on the retail end
simply allow consumers to shop for deals.
Lay, the Enron executive, recalled that the utilities fought hard to
maintain their customer base. The irony is that, with wholesale prices
skyrocketing over the last six months, buying electricity for all those
customers has driven the utilities to the brink of insolvency.
"With 20-20 hindsight, I expect they wish they'd agreed to more choice at
the customer level," Lay said. "Then maybe they wouldn't be in the
circumstances they're in."
   News </news> Politics </news/politics> Entertainment
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Copyright 2001 Los Angeles Times

STEVAN ALLEN
Vice President
Edelman Public Relations Worldwide
1215 K Street - Suite 970
Sacramento, CA 95814

916/442-2331 - phone
916/447-8509 - fax
stevan.allen@edelman.com
 <<Allen, Stevan.vcf>>


what the fuck are the highlands


The report named: NG - Price P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=10&report_name=NG+-+Price+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=10/18/2001>, published as of 10/18/2001 is now available for viewing on the website.


We may be creating another problem.

I'll have Heather set up a meeting for next week.

thanks

bob

---------------------- Forwarded by Bob M Hall/NA/Enron on 03/29/2001 11:34
AM ---------------------------

	Enron North America Corp.

	From:  Rita Wynne @ ECT                           03/29/2001 11:05 AM

To: Bob M Hall/NA/Enron@Enron
cc:

Subject: New Profit Centers

Bob,

Per our conversation -  on this past Tuesday, a group met from VM, Gas Acctg.
and East Risk to discuss the recording of the 12 east desks and 7 central
desks to SAP. Effective with March flow, each desks for Central and East will
record to its own profit center in SAP (the wellhead desks and Texas were
done in Feb.'s g/l).  According to Gas Acct., they will calculate UA for each
of the profit centers (19 in total).  As we discussed, VM does not have the
appropriate Unify reports or manpower to  support this level of accounting at
this time and for this month will continue to tie UA4 out as we have in the
past using our same reports - Gas Acct. will have to sum their side of the
UA4 calc. to match us.  With the foresight of eventually going to profit
center level accouting and reporting, there will need to be significant
changes to our current back end systems and processes to handle this lower
level of reporting.  I believe the flash is already being done at the
different profit centers, but all the downstream groups are still performing
their analysis at a more consolidated level.  There were discussions in the
meeting that OA would not go to this lower level, but I am of the opinion
that we all need to be consistent in our analysis and reporting across the
organization - so if this is the path we take, then everyone's process will
need to be able to handle this level of detail.  Of course, no decisions were
made in our meeting, and as I stated, for now, VM's process will remain
unchanged for this month.  Please let me know if you want to discuss
further.  Thanks!


Brian,

No problem.

Vince

"Brian Corbett Nelson" <nelsonb@ruf.rice.edu> on 04/26/2001 08:15:14 PM
Please respond to <nelsonb@rice.edu>
To:	<Vince.J.Kaminski@enron.com>
cc:
Subject:	RE: Term Project:

Vince, I finally joined a team that only had two members.  It looks like our
paper will only be about 13 to 15 pages.  We were wondering that since our
team is less than half the size of some of the other teams, if you could
possible relax the length requirement?

Thanks,
Brian Nelson

-----Original Message-----
From: Vince.J.Kaminski@enron.com [mailto:Vince.J.Kaminski@enron.com]
Sent: Wednesday, April 11, 2001 3:54 PM
To: nelsonb@rice.edu
Subject: RE: Term Project:

Brian,

The last class + plus a few days (depending on when I have
to submit the grades).

Vince

"Brian Corbett Nelson" <nelsonb@hydrant.ruf.rice.edu> on 04/11/2001
03:35:14 PM

Please respond to <nelsonb@rice.edu>

To:   <Vince.J.Kaminski@enron.com>
cc:
Subject:  RE: Term Project:

Mr. Kaminski,

I had an interview last Thusday in Dallas and could not attend class.  Did
you set a project deadline?

Thanks,
Brian Nelson

-----Original Message-----
From: Vince.J.Kaminski@enron.com [mailto:Vince.J.Kaminski@enron.com]
Sent: Wednesday, April 11, 2001 3:22 PM
To: isranir@rice.edu; demianen@rice.edu; tbal93@yahoo.com;
maue@rice.edu; loughrid@rice.edu; jblantonjr@yahoo.com;
gjohnson@rice.edu; emchombo@rice.edu; nazareth@rice.edu;
vanstone@rice.edu; ganguzza@rice.edu; nelsonb@rice.edu;
sssmith@rice.edu; wheelock@rice.edu; westmore@rice.edu;
gaudette@rice.edu; otaylor@rice.edu; dikeman@rice.edu; jettke@rice.edu;
litton@rice.edu; chilkina@rice.edu; helms@rice.edu; wankhade@rice.edu;
monfan@rice.edu; kostya@rice.edu; pcp@rice.edu; yueguo@rice.edu;
nlwbio@rice.edu; zhangn@rice.edu; rishad@rice.edu; yoshiura@rice.edu;
howard@rice.edu; dayangd@rice.edu; wuwei@rice.edu; so@rice.edu;
wooddy@rice.edu; lamas@rice.edu; tbalestrery@houston.rr.com;
hingoran@rice.edu; planck@rice.edu
Cc: vkaminski@aol.com; Vince.J.Kaminski@enron.com;
Jason.Sokolov@enron.com
Subject: Term Project:

This is the list of projects for the members of the "quant" team.
If you are working on different project, please, ignore this message.

Please, develop in a spreadsheet solutions/examples for the following:

1. Black-Scholes formula
2. Black's formula
3. Develop a spreadsheet to simulate price trajectory using:
     a. GBM
     b. GBM + jump (Formula 2.16 in the book, Figure 2.7)
     c. Mean reversion + jump (Formula 2.17, Figure 2.8)
4. Schwartz Single Factor Model (Formula 6.12)
5. Develop models corresponding to the Figures 7.1, 7.3, 7.5, 7.6, 7.8

Vince


Thank you for contacting Charles Schwab Signature Services.  We have received
your e-mail and will be responding to it as quickly as possible.

At Charles Schwab & Co., Inc., we strive to maintain a goal of responding to
all e-mail inquiries within 24 hours.  In order to meet this high quality
standard, we respond to customer inquiries in the order in which they are
received.

We look forward to assisting you.  Again, thank you for contacting Charles
Schwab & Co., Inc.

0099-8985


Congratulations on your promotion to Senior Director.  That makes all of the
life juggling seem a little more worthwhile, doesn't it?!


---------------------- Forwarded by Cara Semperger/PDX/ECT on 04/24/2001
03:00 PM ---------------------------

Cara Semperger
04/24/2001 02:52 PM
To: Portland Shift, Donald Robinson/PDX/ECT@ECT
cc:
Subject: Schedule cut at COB to run real time

Our upstream is Sempra, our Downstream is Mirant, it is a llh schedule that
was cut by 1 mw HE 4-6, 23-24.  Mirant is taking it to real time, and
Snohomish who is generating agrees with this.

Please call Mirant for the hours above to make sure everything is being
handled.  The path is marked in lotus notes with a cut symbol.

Cara


I'd be happy to talk to either of you about NNG's experience or work I did in
my former life for my old client Market Hub Partners on requests for market
based rates for their Egan Louisiana, Moss Bluff, Texas and Tioga
Pennsylvania projects.

	From:  Tom Shelton @ ECT                           04/20/2000 12:38 PM

To: John Allario/HOU/ECT@ECT
cc: Drew Fossum/ET&S/Enron@ENRON

Subject: Market based storage rates

Shelley Corman tells me that Drew Fossum (General Counsel of NNG) was
primarily responsible for working up the part of NNG's rate case insofar as
the (unsuccessful, I'm afraid) request for market based storage was
concerned.  Shelley has graciously volunteered to talk to you about the
general  background on the concept, and is sending you part of the NNG
filings that dealt with the market based storage request.  Feel free to call
her, and Drew might also be a valuable, if willing, resource.


---------------------- Forwarded by Bob M Hall/NA/Enron on 03/09/2001 12:05 PM ---------------------------
From:	Leslie Reeves@ECT on 03/07/2001 03:35 PM
To:	Bob M Hall/NA/Enron@Enron
cc:

Subject:	Latest Frontera Doc

FYI - latest and greatest.  I'll keep you posted.  Gas responsibilites are discussed beginning on pg 13.
----- Forwarded by Leslie Reeves/HOU/ECT on 03/07/2001 03:33 PM -----

	Edith Cross 03/07/2001 11:04 AM 	   To: Leslie Reeves/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT, Thresa A Allen/HOU/ECT@ECT  cc:   Subject: Latest Frontera Doc

I haven't had a chance to look at this yet.  Sorry!

E

---------------------- Forwarded by Edith Cross/HOU/ECT on 03/07/2001 11:03 AM ---------------------------

Bruce Sukaly@ENRON
03/07/2001 08:15 AM
To:	Jason R Wiesepape/HOU/ECT@ECT, Edith Cross/HOU/ECT@ECT
cc:
Subject:

---------------------- Forwarded by Bruce Sukaly/Corp/Enron on 03/07/2001 08:14 AM ---------------------------

"Stuart Zisman" <zisman@hotmail.com> on 03/07/2001 06:32:25 AM
To:	bruce.sukaly@enron.com, mike.curry@enron.com, jason.wiesepape@enron.com
cc:

Subject:

Attached is my cut at a mark up.  Please review so that we can discuss at
9:00 this morning.

Stuart

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

 - Frontera Agreement.doc


CALENDAR ENTRY:	INVITATION

Description:
	DOCTOR'S APPT

Date:		7/5/2000
Time:		3:00 PM - 5:00 PM (Central Standard Time)
Not for public viewing

Chairperson:	Stacey W White

Detailed Description:


Lorie -

Please see the attached version of the LOI.  I have added a paragraph - paragraph 6 - as a non-solicitation provision.  Be aware that these usually are negotiated to be mutual and, in that event, I will be required to obtain approval of a mutual provision at three different levels, including Corp.  This is current policy within the company to ensure we do not bind other divisions or groups to a non-solicit that we cannot comply with.

Let me know your thoughts.

Mark


Hi, Tori.

We're writing to verify that the email address you listed on
Classmates is still valid. We send this quarterly note to
members in order to ensure that our directory remains up-to-date.
You don't need to reply.

Sincerely,
The Staff at Classmates
http://www.classmates.com/go/e/90754601/QV100/QV1


We will be holding floor meetings on the following dates.  Please join us for
a general overview and Q&A session on one of the following floors:

Tuesday, 4/17/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2711

Wednesday, 4/25/01 - 2:00 - 3:00 p.m. Location:  In front of EB2265

Thursday, 4/26/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2556

Philippe & Greg

Please disregard the email sent on 4/6/01.  We apologize for any
inconvenience.


ENE @ 9.90?  I don't think I will be able to eat for a week.  Maybe you should bring a bullet next week and put me out of my misery.

 -----Original Message-----
From: 	"buylow" <buylow@houston.rr.com>@ENRON
Sent:	Tuesday, November 06, 2001 9:07 AM
To:	Farmer, Daren J.
Subject:	Re: Lunch

That's fine with me. As always, my calendar is extremely flexible.

Ken

----- Original Message -----
From: "Farmer, Daren J." <Daren.J.Farmer@enron.com>
To: <buylow@houston.rr.com>
Sent: Tuesday, November 06, 2001 7:56 AM
Subject: Lunch

hey Ken,

Let's do lunch next week.  We are moving into the new building this
weekend.  I'll be able to show you around (if I'm still here).

We had a tough football weekend.  It's about time we got beat.  We
didn't deserve the wins we had.  Anyway, I've got to get to work.
Trying to break $12.00 today.  It's kind of odd...moving into a brand
new building when your stock price has reached an all-time low...

D

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


brad hitch

Rick Bergsieker@ENRON_DEVELOPMENT
09/23/2000 10:12 AM
To: Jeffrey A Shankman@ECT
cc:
Subject: Online LNG Trading

Who should Clay and  V V be working with to get started on the Malaysia/Enron
web page?
---------------------- Forwarded by Rick Bergsieker/ENRON_DEVELOPMENT on
09/23/2000 10:11 AM ---------------------------

Rick Bergsieker
09/23/2000 10:10 AM
To: Jeffrey A Shankman@ECT
cc:

Subject: Online LNG Trading

fyi
---------------------- Forwarded by Rick Bergsieker/ENRON_DEVELOPMENT on
09/23/2000 10:10 AM ---------------------------

Daniel R Rogers
09/21/2000 02:38 PM
To: Clay Harris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, V V Rao@ECT, Rick
Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wayne
Perry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Nancy Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ned E
Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Online LNG Trading

Hopefully Brunei LNG/Shell won't beat us to the punch.  You can bet that Mr.
Damit at Brunei LNG gets his intelligence from Shell who no doubt are working
on this already
(Shell is in a JV that just rolled out an online shipping capacity/freight
trading business this month).
The first one to launch an LNG Trading internet platform will have an
incredible advantage over all others.

Dan

06:19 GMT  14 September 2000

PATTAYA, Thailand (Dow Jones)--Online liquefied natural gas trading is on the
way and will challenge the way business in the industry is done,
Mohammed Damit, head of LNG marketing for Brunei LNG Sdn Bhd, said this week
at a gathering of gas industry executives.

"It's only a matter of time before we see energy trading activities on the
net," Damit said, adding that the biggest LNG online opportunities are
in ship chartering and spot LNG trading.

Damit said online trading would result in greater price volatility.

LNG prices are currently indexed to crude oil prices, in term contracts for
as long as 20-30 years, that tend to smooth out price fluctuations
over the life of the contract.

Damit added that online traders will use standardized documents, simplifying
trading.

-By Lucy Hornby, Dow Jones Newswires; 65 421 4811; lucy.hornby@dowjones.com


You have received this email because you are listed as a security approver.
Please click
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Approval to review and act upon this request.

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she was just asking what i do at enron and if i am nice or an asshole.  she
is just looking out for you.  hopefully these guys didn't bury me to bad.
you know you loved that movie so don't pretend that you didn't.  it sounded
like it was the 7th or 8th time you saw it.


In addition to the EES length in NP-15 for 04-20, we also have ST-CALI length
in PGE3 for 04_20 and 04_21.  ST-CALI is 40 mws long in PGE 3 on peak
beginning HE 7.  We will sell this energy off under ST-CALI's book and figure
out a cost basis later.

Thanks.
Bill