boo

 -----Original Message-----
From: 	"Zerilli, Frank" <fzerilli@POWERMERCHANTS.COM>@ENRON [mailto:IMCEANOTES-+22Zerilli+2C+20Frank+22+20+3Cfzerilli+40POWERMERCHANTS+2ECOM+3E+40ENRON@ENRON.com]
Sent:	Thursday, September 06, 2001 1:48 PM
To:	PMG Principals; Dennis, Robert; Lynch, Justin; Marcotte, Tom; Leo, Andre
Cc:	Arnold, John
Subject:

ICE Melts Resistance ToOil Swaps.

09/03/2001
PetroleumIntelligence Weekly
P1
(c) 2001 Energy Intelligence Group. All rights reserved
The oil hedging business is poised to take another step up the evolutionary ladder, after the upstart IntercontinentalExchange(ICE) confirmed plans to offer clearing services for its over-the-counter contracts from the fourth quarter of this year. With similar moves also planned by the New York Mercantile Exchange (Nymex), OTC contracts such as swaps are increasingly moving into the mainstream. Long regarded as the wild cousins of regulated futures, OTC oil contracts were distinguished by their fuzzy legal status, lack of standardization, and absence of clearing services. Changes in USlaw and the spread of electronic trade have pretty much eroded the first two differences, and the ICE initiative will deal with the third. The main differences now lie in regulation and settlement (40#02-06). ICE'sclearing services will be provided by the London Clearing House (LCH) - the clearinghouse for London's International Petroleum Exchange (IPE), which was taken over by ICE last month. ICE will now be able to offer a one-stop hedging shop for cleared futures and derivative contracts, allowing traders to use a single location to conduct full hedging strategies and to pool their risk. One advantage is that it will allow net margining between IPE Brent futures and other ICE products, such as West Texas Intermediate swaps. Clearinghouses offer financial risk protection, acting as a central party to shield traders against counterparty default. Derivatives trade at ICE is currently conducted between companies on the basis of bilateral credit agreements.
ICE'sinitiative in part reflects its increasingly fierce competition with Nymex. The New Yorkexchange will this week launch its new Brent crude futures and options contracts, as a direct challenge to the merged ICE-IPE (40#35-04). In return, ICE will first introduce clearing services for two actively traded USproducts, involving West Texas Intermediate crude oil swaps and Henry Hub natural gas swaps. These swaps are the planned centerpiece for Nymex'slong-delayed internet platform, eNymex(40#04-05). They also pose a potential challenge to Nymex'stwo core futures contracts, if trade migrates to swaps. Some traders view swaps as more effective hedging tools. Calendar-month WTI swaps, for example, are widely used to hedge against producer or refiner supply contracts, which use average prices during calendar rather than contract months.
The evolution of swaps is also part of a deeper market trend, which has been actively encouraged by the USgovernment and some big energy companies. The UShas been working to give derivatives a stronger legal framework since the late 1990s, after Russiadefaulted on its debt and the Long-Term Capital Management hedge fund came to the brink of collapse. That effort culminated in legislation late last year giving derivatives a stronger legal footing, thus eliminating the chance that parties might renege on unfavorable contracts by claiming they were really unauthorized futures deals. The spread of electronic trade - particularly on ICE - has accelerated the change, by encouraging liquid trade in standardized products. This is no accident. In an interview with PIW a year ago, John Browne, chief executive of BP - one of ICE'sfounders - said that the platform had been set up in an attempt to create "a real exchange market for swaps, rather than simply one-off, over-the-counter activity." This would make hedging more transparent and efficient, while eroding the role of intermediaries, he said. Browne drew parallels with the earlier evolution of interest-rate swaps in financial markets, into "a standardized business." (39#27-08).Last week, ICE Chief Executive Jeffrey Sprechersaid the exchange wants "to try to change the way the market works."


We're trying to get a demo setup - probably for lunch time one day this week.

 In the meantime, you can view the homepage at
http://test.entelligence.enron.com

Security will prevent you from going any further until you have been setup.
If you wish to gain access, please submit a request through erequest at
http://itc.corp.enron.com.  Currently, you can only request test access.
Production access should be added later this week.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/28/2000
02:38 PM ---------------------------

Robert Brooks <rebrooks@earthlink.net> on 04/28/2000 12:11:11 PM
Please respond to "rebrooks@rbac.com" <rebrooks@rbac.com>
To: "'GPCM Distribution'" <rebrooks@rbac.com>
cc:
Subject: Can Supply Grow Fast Enough to Meet Increased Demand?

For GPCM Modelers from http://www.enerfax.com:

Natural Gas Supply Chasing  Demand

    Natural gas suppliers face a tough challenge in meeting strong growth in
demand in the near future, experts told an industry conference in Houston
yesterday. The MMS and the National Petroleum Council have projected that
demand for natural gas could rise to 30 Tcf a year by 2010 from current
levels of 22 Tcf. Finding and delivering enough natural gas to meet such an
increase, even if demand takes another ten years to reach such levels, will
be not be easy, the conference was told. The Gulf of Mexico currently
provides about a quarter of the nation's natural gas requirements and is
expected to generate the majority of future production growth. The MMS says
that natural gas production from the Gulf of Mexico would likely rise from
about 5 Tcf a year now to a peak of 6.1 Tcf in 2005 and then start to
decline.  At best, production would peak at 6.7 Tcf in 2010 then bedin to
decline. Chevron says that to meet demand of 30 Tcf by 2020, average daily
gas production in the Gulf of Mexico would have to rise to 22 Bcf cubic feet
from about 14 Bcf now. The GRI says it expects the Gulf of Mexico and Canada
to be 'key pillars' in meeting US demand for natural gas. The GRI projects
that Gulf of Mexico production can reach 8 Tcf a year by 2015, while Canadian
imports will rise to 4 Tcf a year from 3 Tcf. Over the same period the GRI
forecasts that supply in the lower 48 states can grow by 5.7 Tcf, with the
Rocky Mountains region contributing a third of the increase. Ziff Energy said
planners and forecasters might be taking too pessimistic a view of production
decline rates from mature gas wells in the shallow waters of the Gulf of
Mexico. Those wells usually show a rapid decline in production in the early
years of their life but then they tend to maintain stable output for
relatively long periods. Also, the MMS said new technologies such as
gas-to-liquid conversion, could help to harness stranded gas in remote
locations where pipeline systems cannot be built. Storage will also play an
increasingly important role.

Offshore Drillers Beginning to Recover

    The offshore oil and natural gas drilling sector has enjoyed a modest
upturn in fortunes for the first quarter, but their mood remains far from
jubilant as earnings lag well behind the peak levels of 1998. The benefits of
the strong recovery in oil prices over the past year have been slow to
trickle down to drilling contractors because most large producers have not
raised their drilling budgets. Over the last week most US drilling companies
have reported sharp earnings declines for the first quarter of 2000, compared
to a year ago. However, many of them posted better numbers than in the final
quarter of 1999 and even managed to better Wall Street's estimates of
earnings per share by a few cents. Although earnings are still showing scant
upward momentum, their stock prices have performed strongly since last year
in anticipation of a gradual improvement. The Philadelphia Stock Exchange
oilfield services index, rose 66.8% in 1999 and is up another 31% so far this
year. So far, the recovery has been largely confined to the shallow waters of
the Gulf of Mexico, fueled by a scramble to produce more natural gas.
Day-rates for Gulf of Mexico jackups have risen 30% compared with the final
quarter of 1999, with utilization rising to 99% from 87%. Day-rates for
jackups in the North Sea and Asia, however, have fallen with utilization of
down to 77% from 81%.

Bob Brooks
GPCM Natural Gas Market Forecasting System


---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/19/2001
10:13 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 04/19/2001 10:05 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--4/19/01


Rick

As you know, the energy sector is facing several challenges: MAE
intervention, rationing, drafting a new market agreement and the like. It is
all happening as we speak.

In my capacity of President of the Brazilian Association of Energy Traders, I
have defended correct economic  signals, have a functioning MAE, keeping
market rules stable, creating wholesale and retail competition, honoring
contract sanctity, and the like. More importantly, that rationing should not
be an excuse for "revoking" supply and demand

Those are not ideologic positions only. They represent, in my view, the best
interest for Enron in the short, medium and long terms.  We have already
agreed on that in a recent Enron executive commitee. That means, I am in fact
wearing Abraceel hat to defend Enron's best interests.

Just two examples on how those principles are linked to our interest (among
many others)

a) By defending contract sanctity, we defended Elektro's contractual position
on Annex V, which sets a formula on how financial contracts  decline during
rationing. Simulations have indicated that our long position, even during the
deepest rationing will offset loss of revenues. On the contraty, w/o Annex V
loss of EBITDA may be US$ 60 million in 2001

b) By defending the integrity of MAE, spot prices and the like, we are paving
the road for Eletrobolt's success.

Needless to say, Abraceel message has been  consistent "across the board".
For example, if one believes on markets, we have to defend the use of market
signals (economic incentives/penalties) during rationing. And prices to
allocate a scarce resource. Also, as a corollary, no intervention in spot
prices, which will, in turn, make our Eletrobolt merchant plant feasible.

I feel very comfortable in defending Enron's interests and wearing my
Abraceel hat. There is a positive synergy.

However, Orlando is the President of ABRADEE, the Brazilian Association of
Distributors. The interests of ABRADEE are not always the interests of free
market (seldom are); nor they are the interests of Enron. For example,
ABRADEE as a group, criticizes the government for changing MAE governance;
they wanted rolling black-outs instead of economic signals; they advocate
caps on spot and the like.

Needless to say, there is a [potential] crash here, with some internal
reverberations.

Today,  the government announced the  rationing plan. It is based on quotas
with an overlay of economic signals (tied to wholesale prices). This is
consistent with markets and what ABRACEEL has been saying on and on. However,
ABRADEE wanted rolling black-outs.  (paving the road for eliminating MAE
rules and setting caps on spot to avoid exposures)

Guess what happened? Orlando is being pressured by his peers to criticize the
plan and kill it. I am convinced that the government made the right decision
(and we helped influence it)

The subject has received a lot of press coverage on TV, radio and other
media. Abraceel has been viewed as one of the champions of market forces.
Last Tuesday, I was invited to express our views to the "Minister of the
Rationing" and I think I was quite persuasive in showing that there is
elasticity in demand, MAE should work asap, intervention was necessary,
government should refrain from the temptation to set caps on spot, etc. Most
of those statements where contrary to what Abradee had stated in the very
same meeting. The plan the Government announced today embeds several elements
of market forces. It was a sudden shift from the plan announced a few days
ago, where market signals were completely neglected. (CERA has recently
referred to it as a "step away from market forces"). And it was indeed.

Internally, we have been managing this tension in a productive way for Enron.
However, the situation is getting more complicated, as tension increases.
Orlando is getting a little uncomfortable because his peers perceive Luiz
Maurer as someone against the interest of the distribution business.

In sum, there is an internal issue going on. I do not want to be a trouble
maker. However, I feel that we have now a window of opportunities to make
things work. (or at least to try to) Our relationship with ANEEL and with the
powerful Ministry of Rationing has been excellent. I feel we should take
advantage of it and put a stick on the ground. That is our culture.

 I think that spending too much time and energy in building consensus among
different stakeholders is not going to lead us anywhere (beside, we know that
we do not want markets). That is what we have been doing at COEX in the last
two years, with no material results. We have remained silent in key issues
waiting for this consensus to happen. This has been the case for the market
intervention. The market is misinterpreting our views. For example, there was
a  press article today, stating that Enron, together with AES, were
dominating COEX and are trying to revert the situation back to the old regime
(stakeholder board). What a gross misinterpretation of our views !!
Informativo Regulatorio #  3 has conveyed  the opposite message and it has
inspired ANEEL to start fixing the mess !! They gave us the credit. We are
still silent on our view, waiting for  consensus to happen.

May be I am in too much of a hurry, because I am leaving soon. But I feel
that we have a window of opportunity to make things happen (or at least
knowing that they are not going to happen any time soon). And we are not
taking advantage of it.

I am not expecting any immediate action from you. Just for you to be aware on
what is going on and  share some concerns.  If you have any comments or any
advise, please let me know.  I have even considered to resign Abraceel
leadership to avoid future internal conflicts.

Luiz Maurer


Mr. Bicker:

Pursuant to Frank Sayre's request, I am attaching a clean and blacklined copy of the draft Schedule to the ISDA Master Agreement, together with the draft Paragraph 13 to the Credit Support Annex, which drafts incorporate the latest comments and revisions.

Please do not hesitate to contact us with any questions or comments.

Thank you!

Marie Heard
Senior Legal Specialist
Enron North America Corp.
Phone:  (713) 853-3907
Fax:  (713) 646-3490
marie.heard@enron.com


Attached is a redlined version of the Spot GTC (without credit) that shows
the changes that were made.  The same changes were made to all of the other
GTCs.  Hope this helps.

Stacy


Pretty cute - makes me want to open a roll of cookie dough when I get home today!!

Happy New Year! --Sally

 -----Original Message-----
From: 	"Cindy White" <piropos@austin.rr.com>@ENRON
Sent:	Monday, December 31, 2001 9:43 AM
To:	Cara White; Beck, Sally
Subject:	A little humor for the new year....

 Obituary

The Pillsbury Dough boy died yesterday of a yeast infection and
complications
from repeated pokes in the belly.  He was only 71. Dough boy was buried in a
lightly greased coffin.  Dozens of celebrities turned out to pay their
respects, including Mrs.Butterworth, Hungry Jack, the California Raisins,
Betty Crocker, the Hostess Twinkies and Captain Crunch.

The grave site was piled high with flours, as longtime friend Aunt Jemima
delivered the eulogy, describing Dough boy as a man who never knew how much
he was kneaded.  Dough boy rose quickly in show business but his later life
was filled with turnovers.  He was not considered a very smart cookie,
wasting much of his dough on half-baked schemes.  Despite being a little
flaky at times, he even still, as a crusty old man, was considered a roll
model for millions.  Toward the end it was thought that he would rise again,
but alas, he was no tart.

Dough boy is survived by his wife, Play Dough, two children, John Dough and
Jane Dough, plus they had one in the oven.  He is also survived by his
elderly father, Pop Tart.
 The funeral was held at 3:50 for about twenty minutes.


print
----- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/29/2001 10:35 AM -----

	Rick Bergsieker@ENRON_DEVELOPMENT
	01/28/2001 03:04 AM

		 To: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman@ECT
		 cc: Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Summary of DPC Project Update Call

FYI, attached is a very complete 4-page summary of the Dabhol situation.  No
action needed on your part---information only
---------------------- Forwarded by Rick Bergsieker/ENRON_DEVELOPMENT on
01/28/2001 03:03 AM ---------------------------

Daniel R Rogers
01/17/2001 04:24 PM
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bill
Gathmann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Neil
McGregor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Mark E Haedicke@ECT, Alan Aronowitz@ECT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert
Mathis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, lbrasher@skadden.com,
jgewirtz@linklaters.com, ssalt@linklaters.com (bcc: Rick
Bergsieker/ENRON_DEVELOPMENT)

Subject: Summary of DPC Project Update Call

Wade, Bill & Neil,

Attached please find a summary compilation of the various issues and
discussions that occured on the Dabhol project status update call that was
presented to the LNG vessel interests.  I initially put this together as a
way of organizing my notes, as well as communicating the latest status to
Mark Haedicke and Alan Aronowitz in EWS/EGM Legal, who have asked to be kept
advised of developments affecting the LNG contracts.  However, in discussions
during this morning's Dabhol project lawyers' call, the issue was raised
whether any written record of the discussions would be sent on to the
shiplenders or the Greenfield sponsors.   I offered to make this summary
available to the group if it would be of any assistance, my offer was
promptly accepted, and that's why you see all the "cc" names in the address
line above.

Of course, this summary is derived from my notes and somewhat contemporaneous
recollections of the call, and as such I'm quite open to any suggested
revisions to ensure the record is set as straight as possible.

Kind regards,
Dan


The PRELIMINARY DPR reflects violations for EOL Crude Trading in the following amounts:

Net Open Position
	Limit:			2.0 Mil Bbls WTI
	Maturity Gap Risk:	(3.0) Mil Bbls WTI

Daily Loss
	Limit:			$3.0 Mil
	Loss: 			$3.3 Mil


Recently, the CAISO filed Amendment 31 to its  tariff.? Amendment 31 asks
FERC to grant authority to the CAISO to remove  the existing sunset date for
its purchase price cap authority, thereby  essentially granting to the CAISO
the authority to set the price cap and  determine its duration.? Attached is
a memo from Ellison & Schneider  which addresses the amendment.
?
While IEP does not believe that contesting the  authority of the CAISO to
impose price caps makes sense, we have concerns that  the CAISO Amendment 31
fails to provide any transparent, objective critieria for  determining if,
when, and where purchaser price caps would be removed.?  This concern is one
we have raised orally and in writing to the CAISO as part of  its Congestion
Reform/Market Redesign Project.? As noted in the Ellison  & Schneider memo,
this is an important issue which needs to be addressed in  order to provide a
"roadmap" to market participants as to if, when, and where  price cap
authority may be removed.
?
As we noted in our previous email related to CAISO  Amendment #30, IEP's
Restructuring/Transmission Special Fund is essentially  depleted.? We are
interested in determining whether the membership wishes  us to proceed with
developing comments on CAISO Amendment #31 addressing the  points raised in
the Ellison & Schneider memo.? Equally important, we  are interested in
determining whether sufficient funding support exists to  accomplish this
outcome.? Responses to the CAISO Amendment #31 filing are  due October 2.
?
If you are interested in funding IEP's effort in  this regard, please let me
know by responding to this email ASAP.?  Thanks.
 - 000920_IEP_mmo_CAISO_Amnd_31.doc


I'll be in Sao Paulo this week.  You still didn't send me a mailing address.
SS

SamChawk@aol.com on 11/20/99 09:57:37 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Update

Sara - Leica is doing extremely well. She will be 11 at the end of this month
and is still as frisky and active as she was 10 years ago. I suppose sooner
or later she will mimic her owner and slow down! I trust Chloe and her
sibling are doing wel also.   I still own my condo in New Orleans but lease
it to the world's best tenant- a fagotski eye surgeon who pays a lot of rent
and is only there about 10 days a month.When I go down in Dec. (I'll be there
from Dec. 7 to the 27th-will you be there?) , I am planning on staying at the
Avenue Plaza on St. Charles. I'll have plenty of room if you'd like to  join
me.
      I still have Corky's in N.O. which is run by Alan Diamond. We are going
to the Beau Rivage Resort at Biloxi on Dec. 6 for our manager's party. Want
to join me? Am I invited on your family's annual Xmas trip?  Where are we
going? How is your family?
 My mother continues to do well. Bev is in Memphis with a boyfriend and Helen
is in Pensacola and a little more stable these days.
      Mr. Casey and I now have 13 Wendy's in Fla. and are trying to buy/build
more. Want to go inspect them? How is work?
      How are you? Do you miss me? I miss you!     Sam


The Bond Legislation
The Democrats in the Assembly and Sentate have agreed to language to create a Dedicated Rate Component to repay the budget and de-link the bonds from the DWR contracts.
But the Republicans have still not agreed to go along.
The bill would require a 2/3's vote to keep the bond issuance on schedule, so Republican votes are necessary.
The Republicans are trying to meet tonite or tomorrow to determine whether to go along.

The Conference Committee
Senator Burton does not like the idea of a conference committee and at this point prefers to use the existing committee structure to hear the core/noncore proposal.
Using the existing committee structure could take longer to produce a bill than using the conference committee structure, but how much longer is uncertain.
No sense yet of when hearings on the core/noncore proposal---in conference committee or otherwise--will take place, though Burton continues to say that he wants to "give it a chance."

The Core/Noncore Legislative Language
The negotiating group continues to work on the language.
The language was supposed to be delivered to Hertzberg by COB today, but more work needs to be done and it is now scheduled to be delivered first thing tomorrow morning.

Senator Dunn's Investigative Committee Hearing
The hearing's been moved from tomorrow to Wednesday.

Best,
Jeff


FYI

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 01/04/2001 05:30 PM -----

	Gustavo Junqueira
	01/04/2001 02:32 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: CMPC - ISDA Agreement

Sara,
I have talked to Alejandro in Chile regarding where to send the ISDA
agreement. He would rather receive it by email but if it is not possible,
please fax it to him at 011 56 2 671 0621. Please let me know as soon as you
send it.
Thanks,
Gustavo


I have received reactions from several of the other Enron operating companies
(EBS, EES and GPG) requesting that the following entities be placed on the
Restricted List for credit derivatives Reference Entities:

AT&T Corp.
Baltimore Gas & Electric Company
Bell Atlantic Corporation
BellSouth Corp.
Cable & Wireless plc
Comdisco, Inc.
Cox Communications, Inc.
Intel
IBM
Lucent Technologies
Monsanto
SBC Communications
Sun Microsystems
Union Carbide
Viacom
Wisconsin Electric Power Company
Wisconsin Gas Company

These companies were those on the attached list (forwarded to the various
General Counsels on 2/28) which were found to be objectionable for one reason
or another.  I have not yet heard from the former EI companies.


Welcome to UBS Warburg Energy, LLC

All UBS Warburg Energy, LLC employees are invited to join us for breakfast and happy hour on
Friday, February 8, 2002.

Breakfast, 8:15 a.m., here on the 3rd floor.

Happy Hour, 3:00 p.m., appetizers and drinks (2),
Fernando's Hideaway, 824 SW First Avenue (upstairs)

We hope you will join us!
Chris and Tim


?
----- Original Message -----
From: Jerzy  Seremak
To: vkaminski@aol.com
Sent: Tuesday, November 28, 2000 7:49 PM
Subject: Praca dyplpmowa V edycja MBA

Dzie? Dobry Panie Doktorze !
?
Przesyam Panu ca? pracc dyplomow? z  finans?w.
Czc~+ pracy zostaa Panu przesana w  pa
dzierniku.
Wykresy bcd? kolorowe i ujcte w  pracy.
Obrona pracy jest zaplanowana w luty  br.
Je_eli jest to mo_liwe to proszc o  recenzjc
?
?
Z powa_aniem
?
Jerzy Seremak
V edycja MBA
Wy_sza Szkoa Handlu i Finans?w  Micdzynarodowych?w Warszawie?a_j_seremak@pro.onet.pl? - I- IV rozdzia pracy - MBA.doc
 - IV - rozdzia pracy - schemat - MBA.doc? - Rozdzia 5.1.tabele.doc
 - Rozdzia V 5.1. opis.doc? - Rozdzia V 5.2.,podsumowanie, biografia i spisy.doc
 - Strona tytuowa i spis tre~ci.doc
 - Wstep.doc


COLUMBIA GAS TRANSMISSION CORPORATION
                        NOTICE TO ALL INTERESTED PARTIES
                                NOVEMBER 20, 2001

Notice ID: 3283
5 - NO RESPONSE REQUIRED

SUBJECT: CAPACITY ALLOCATION-TIMELY NOMINATION CYCLE FOR NOVEMBER 21, 2001

PLEASE NOTE THAT ALL ALLOCATIONS ARE SUBJECT TO CHANGE BASED ON THE RECEIPT OF
ANY NEW NOMINATIONS OR INTRADAY NOMINATIONS.

RECEIPTS:

ALLOCATIONS DUE TO LONG WALL MINING OF LINE SM-123:  For the following MLI
points: There is no capacity for IPP customers.  There is no capacity for ITS
customers.  There is no capacity for secondary firm customers.  There is no
capacity for overruns.

        Equitable Hi Hat       MLI F3
        KYWV Beaver Creek      MLI H1
        CNR Boldman            MLI CNR02
        CNR Conoway            MLI CNR03
        CNR Johns Creek        MLI CNR08
        CNR Canada             MLI CNR09, CNR10
        CNR Stafford           MLI CNR11
        CNR Thacker/Majestic   MLI CNR12
        CNR Briar Mtn.         MLI CNR13
        CNR Huff Creek         MLI CNR14
        Conoco Grant           MLI P1

KA-1 LINE (819288 AND 827280):  There is no capacity for IPP customers.  There
is no capacity for ITS customers.  There is no capacity for secondary firm
customers.

INTERNAL CONSTRAINT:

LANHAM:  There is no capacity for IPP customers.  There is no capacity for ITS
customers.  There is no capacity for secondary firm customers.

Excess MDWQ               Available +
ISS Withdrawals           Available
SIT Withdrawals           Available
Imbalance Drawdowns       Available

Excess MDIQ               NOT Available +
ISS Injections            NOT Available
SIT Injections            NOT Available
Imbalance Paybacks        NOT Available

PAL Lends/Unparks         Available
PAL Parks/Loan Paybacks   NOT Available

+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.

Columbia Gas Transmission has completed allocating all of its receipt and
delivery points for the gas day of November 21, 2001.  You may now view the
quantities you are authorized to flow on November 21, 2001.  On the Internet
NAVIGATOR, view Nominations, Scheduled Quantity, Scheduled Quantity for Service
Requestor-Summary, Nominations to be Viewed, and select Reduced Nominations.
The quantities confirmed to flow for your account are available on the Internet
NAVIGATOR after 5:30 p.m. Eastern Time on Tuesday, November 20, 2001.

If you have any questions, please contact your Account Representative.


YOUR BUDDY
 -----Original Message-----
From: 	"Jerry Bowyer" <jerrybowyer@home.com>@ENRON [mailto:IMCEANOTES-+22Jerry+20Bowyer+22+20+3Cjerrybowyer+40home+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, August 10, 2001 1:57 PM
To:	jerrybowyer@home.com
Subject:	Gover Norquist on Reagan and Rick Santorum on Stem Cells

Monday on Jerry Bowyer in the Morning:
?        Monday is the 20th anniversary of Reagan's signing his famous tax cut bill, and Americans for Tax Reform's Grover Norquist is here to talk about what it has meant for our economy.
?        Senator Rick Santorum responds to President Bush's decision on stem cell research funding.
?        Brian Wesbury gives us the economic news.
Listen Monday morning and every weekday morning, from 6-9am, on Pittsburgh's New Talk Radio, 1360 WPTT.
Call with your comments, at (412) 333-1360
To comment on the program, e-mail me at susan@jerrybowyer.com .
To unsubscribe reply to jerrybowyer@home.com  with "remove" in the subject line.
Jerry Bowyer
Pennsylvania Newsmakersseen across the state on these television stations: www.jerrybowyer.com/coveragemap.php
The Jerry Bowyer Programon WPTT radio in Pittsburgh, 1360am: www.1360wptt.com/bowyer
Focus on the Issueson Cornerstone Television
Audio clips from these programs can be heard at www.jerrybowyer.com/audio.php
412.771.2282 phone
412.771.2363 faxjerrybowyer@home.com


I am forwarding some Wall Street comments from Kathryn Corbally related to
the Transmission buyout.

Looks like they view it as very favorable - not a major hit against EPS tied
to full recovery of remaining undercollection.

Not sure yet if they incorporate the going forward - maybe SCE doesn't want
any merchant obligations?

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/27/2001 08:18 AM -----

	Kathryn Corbally
	02/26/2001 04:47 PM

		 To: James D Steffes/NA/Enron@Enron
		 cc:
		 Subject: CaliforniA

Jim, Have sent you three notes that show some level of support to activity in
California
- its probably a little bias since there are a few reports out there that say
quote the 'devil is in the details' and quote
'the odds of bankruptcty remain in the 50% range.'

Note1
09:42am EST 26-Feb-01 ABN AMRO Inc. (Ford,Daniel F. 212/258-1548) CPN DYN EIX
One Down Two to Go

One Down Two to Go
ABN AMRO -- Research Notes
Subject: Power
Companies Mentioned: CPN, DYN#, EIX, PCG, SRE

Analyst:  Daniel F. Ford, CFA  212/258-1548
          Po Cheng, CFA  212/258-1709
==============================================================================
=
Date:     February 26, 2001
------------------------------------------------------------------------------
-
Highlights:
-  On Friday (2/23), Governor Davis triumphantly announced that the State of
   California and Edison International had reached an agreement in principle
   for the sale of its electric transmission system as part of a financial
   recovery package. He also commented that "good progress" was made with
   Sempra Energy and "some progress" with PG&E Corp.
-  The preliminary terms of the agreement call for the State to buy Edison's
   transmission system for approximately $2.76 billion (2.3x estimated book
   value) and allow for the securitization of "a substantial portion of its
   undercollection".
-  In exchange, Edison would: 1) make payments of approximately $420 million
   to its utility subsidiary, Southern California Edison; 2) commit the
entire
   output of an Edison Mission project at cost-based rates for 10 years; 3)
   provide cost-based rates from native generation for another 10 years; 4)
   give conservation easements on 20,000 acreas of watershed lands for 99
   years; and 5) drop a pending lawsuit against the California Public
   Utilities Commission.
-  We view this agreement as a positive development. Based on the 2.3x
   purchase price, the EPS hit from the loss of the transmission lines would
   be approximately $0.10 lower than our worst case estimate (at 1.5x) of
   $1.90 . The agreement, however, is not final and additional details need
to
   be worked out before being submitted to the legislature.
-  Events to watch over the next couple of weeks include: 1) a definitive
   agreement with Edison; 2) deals with PG&E Corp. and Sempra Energy; 3) a
   package that the legislature can accept (which could include concessions
   from generators); and 4) terms that are acceptable by the FERC.
-  In our opinion, the proposed deal is reasonable for EIX shareholders and
   renews the hope for a resolution to the crisis. While our optimism is
   tempered by the shortening timeframe, we are encouraged by the governor's
   recent statements, which have been more positive than negative. As such,
we
   maintain our Buy ratings on Edison International and PG&E Corp as well as
   on the generation companies: Calpine and Dynegy.

Other News:
In other related news, on Friday (2/23) Edison announced that all of its banks
have agreed to extend their forbearance until March 14.

Note 2

05:16pm EST 26-Feb-01 Goldman Sachs (NEWYORK) EIX PCG ACTION
EIX agrees to deal in principle with Gov Davis.PCG still negotiating.Buy
EIX...

                 Goldman, Sachs & Co. Investment Research

EIX agrees to deal in principle with Gov Davis.PCG still negotiating.Buy EI

*  On February 23, EIX and Governor Davis reached an agreement in principal
   in which the state would agree to buy the transmission grid and allow
   for recovery of a 'substantial portion' of unrecovered cost in return
   for EIX refunding money from its parent to the utility and dropping
   pending litigation.  This settlement appears to be a  reasonable 'shared
   pain' scenario and is consistent with the 'buyout vs. bailout'
   structure we have been anticipating. To be enacted the deal needs to be
   finalized and approved by the EIX board and the California Legislature.
   FERC also must approve the asset sale.
*  EIX agreed to sell a portion of its electric transmission system to the
   state of California for $2.76 billion and transfer $420 million cash to
   its utility subsidiary from the parent.  In return, the state would
   allow EIX to recover a substantial portion of its under-collected power
   costs and drop pending litigation in which the company is pursuing rate
   hikes.  If approved by the EIX board and California legislature this
   agreement, in concert with passage of ABX1-1, would eliminate the
   overhang that has depressed EIX shares.
*  Although dependent on several factors, we believe the net impact on
   earnings from the settlement will not be as high as the current EIX
   stock price implies.  We believe post-settlement EPS in 2002 will likely
   total at least $2.00/share, which supports a conservative valuation of
   $20 share (10X '02 EPS, a 20% valuation discount to the peer group).
*  Also late last week, PCG issued a press release indicating they had met
   with the Governor, had submitted proposals, and discussions were
   ongoing.  With the framework already established for EIX, we expect a
   PCG settlement could be announced in the near future. PCG's negotiating
   flexibility is limited relative to EIX because their generation rates
   are lower, their under-recovered balance is higher, and the potential
   cash 'refund' from parent to subsidiary being requested by the
   government is probably larger.
*  PCG's transmission system has a book value of roughly $1.5 billion.  At
   2.3X book value, these assets could potentially be worth $3.5 billion.
   Assuming a parent company to utility cash transfer proportional to the
   one proposed for EIX, we estimate PCG would refund $780 million. PCG's
   stock price also reflects an earnings impact more punitive than implied
   by a settlement of this nature. We believe a deal like this would
   support post-settlement EPS of at least $2.50/share which supports a
   conservative valuation of $25/share (10X '02 eps, a 20% valuation
   discount to the peer group).
*  Because EIX has a 'deal in principle' the stock is trading at a premium
   to PCG despite having lower potential 2002 earnings power. Those
   investors who believe PCG will strike a deal that is similar in
   structure and proportional to EIX's settlement should purchase PCG over
   EIX at this juncture.

NOTE 3

09:17am EST 26-Feb-01 Merrill Lynch (S.Fleishman (1) 212 449-0926) EIX PCG
UTILITIES-ELECTRIC:California: One Goes Forward, But Need All Three

    ML++ML++ML     Merrill Lynch Global Securities Research     ML++ML++ML
                             UTILITIES - ELECTRIC
                California: One Goes Forward, But Need All Three
                      Steven I. Fleishman (1) 212 449-0926
Reason for Report:  Governor reaches preliminary agreement with Edison; PG&E
up
in the air; Need all 3 utilities to move forward

Investment Highlights:
o    On Friday, Governor Davis announced a preliminary agreement with Edison
International (EIX; D-2-2-9; $14.69) on a financial resuscitation plan.  The
plan follows the basic framework previously outlined by the Governor.

o    The state will purchase Edison's transmission assets for $2.76B, or 2.3x
book value.  This would help pay off some of Edison's net $4.1B of
undercollections (a number agreed upon with the Gov.)  The remainder will be
recovered through a bond financing tied to a dedicated rate component to be
carved-out of Edison's rates.

o    In exchange, Edison will agree to: 1) Drop the lawsuit against the PUC,
2)
Invest $420M back into the utility from the parent, representing tax
overcollections , and 3) Sell power from its hydro and nuclear assets at cost-
based rates for the next 10 years.  Edison also agreed to sell power from its
unregulated Sunrise plant, currently under construction, at cost-based rates
for 10 years.

o    A number of uncertainties remain in Edison's deal, and it is still
preliminary.  The exact terms and language will be very important,
particularly
given the need to issue securitization bonds.  It is impossible to provide
exact earnings guidance based on this deal, but the only loss of earnings
power
would appear to come from lost transmission earnings (-$0.20-$0.25/share) and
potentially lower generation earnings depending on the terms of cost-based
rates.

o    This is a significant step forward for Edison and the resolution of the
CA
power credit crisis.  However, it could be for naught if the other utilities
cannot work out deals.  We believe Sempra Energy (SRE; B-2-1-7; $22.10) is
relatively close, but PG&E's (PCG; D-2-2-9, $13.70) talks were flailing last
week.  We continue to see little chance that this plan can move forward and
pass through the legislature unless all the utilities are on board.

o    We believe PG&E is willing to work a deal within this framework.
However,
the simple problem is that PCG's undercollection numbers are much bigger.  At
YE 2000, PCG's net undercollection was more than $5B and we believe this may
have reached $7B by the end of January.  Selling the transmission for 2.3x
book
would provide only $3.5B, leaving the other half to be recovered though the
dedicated rate component/securitization.  It may be that the only way the
numbers can work is with a rate increase.

Despite the significant hurdles that remain, we believe the momentum toward a
constructive outcome is improving.  To that end, we maintain our Accumulate
ratings on EIX and PCG for high rate accounts.


Company: 002909     Arng: 39229-13012     Eff Date: 2001-10-30

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                         0                15,448
Working                           0                15,448
Capacity Allocation               0                15,448
Confirmed                         0                10,891  CBL

Company: 002909     Arng: 39229-15097     Eff Date: 2001-10-30

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                    10,000                     0
Working                      10,000                     0
Capacity Allocation          10,000                     0
Confirmed                     5,297  CBL                0

Company: 002909     Arng: 39229-15098     Eff Date: 2001-10-30

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                    10,000                     0
Working                      10,000                     0
Capacity Allocation          10,000                     0
Confirmed                     5,297  CBL                0

Company: 002909     Arng: 39229-15099     Eff Date: 2001-10-30

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                     1,371                     0
Working                       1,371                     0
Capacity Allocation           1,371                     0
Confirmed                       726  CBL                0

Company: 002909     Arng: 39229-15100     Eff Date: 2001-10-30

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                     4,533                     0
Working                       4,533                     0
Capacity Allocation           4,533                     0
Confirmed                     2,402  CBL                0


Going down for some work, but hanging out for the weekend to see friends, etc.

be travelling alot this month...  don't know how dad does it.

love,
coop

	Enron Capital & Trade Resources Corp.  From:  Richey Holly <Richey_Holly@prc.com>                           05/17/2001 06:29 AM

To:	"'Cooper.Richey@enron.com'" <Cooper.Richey@enron.com>
cc:
Subject:	RE: Weather This Weekend

Coop:  What are you doing in Portland?  Luv, Mom

-----Original Message-----
From: Cooper.Richey@enron.com [mailto:Cooper.Richey@enron.com]
Sent: Wednesday, May 16, 2001 6:20 PM
To: Richey_Holly@prc.com
Subject: Re: Weather This Weekend

except i'll be in portland this weekend...  trying to line up a game for
the next weekend, though.  i'll let you know...

love,
coop

 (Embedded     Enron Capital & Trade Resources Corp.
 image moved
 to file:      From:  Richey Holly
 pic24750.pcx) <Richey_Holly@prc.com>
               05/16/2001 01:41 PM

To:   "'Cooper Richey'" <crichey@ect.enron.com>
cc:
Subject:  Weather This Weekend

Coop:  Just checked the Calgary weather.  Looks like it'll be good for golf
this weekend.  Luv, Mom

Holly Richey
Litton PRC, a Subsidiary of Northrop Grumman
703.556.3634


Still waiting to hear from you guys on this before I send it out.

Tana/Leslie: I need to get an official approval from Legal

Houston PCG: I need to know if Houston Credit/Legal will be reviewing for US
products.  Please let me know.

Imelda
---------------------- Forwarded by Imelda Frayre/LON/ECT on 04/12/2000 16:32
---------------------------
From: Imelda Frayre on 01/12/2000 09:04
To: Tana Jones/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Claudia
Clark/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Karen O'Day/NA/Enron@Enron, Paul
Maley/LON/ECT@ECT
cc: Enron London - EOL Product Control Group/LON/ECT@ECT, Alan
Jamieson/EU/Enron@Enron

Subject: Re: New Counterparty - President & Fellows of Harvard College

Hi Everyone

I apologize for all the e-mails going back and forth but hopefully we can put
this one to rest soon.  London Credit have approved this CP for financial
metals and I need to confirm if they are approved from a legal perspective as
well.  I spoke to Justin Boyd (London legal) and he asked that I clear this
with Houston Legal before setting them up.

In addition, I want to see if Houston Credit/Legal will be reviewing this
counterparty for US products as well.  Please let me know as soon as you can.

Thank You

Imelda Frayre
---------------------- Forwarded by Imelda Frayre/LON/ECT on 01/12/2000 09:00
---------------------------

Alan Jamieson@ENRON
30/11/2000 17:55
To: Imelda Frayre/LON/ECT@ECT
cc: ECT London Credit, Enron London - EOL Product Control Group/LON/ECT@ECT

Subject: Re: New Counterparty - President & Fellows of Harvard College

Approved for financial metal products only with collateral - MGS Code IVY

To: Justin Boyd/LON/ECT@ECT, ECT London Credit, Enron Europe Global
CounterParty
cc: Enron London - EOL Product Control Group/LON/ECT@ECT, EOL Marketing
Europe@ECT, Lindsay F Edmonds/EU/Enron@Enron, Hamish M Scutt/EU/Enron@Enron,
Diana Higgins/LON/ECT@ECT, Alan Jamieson/EU/Enron@Enron, Britta
Dinnendahl/LON/ECT@ECT, Alex Heath/LON/ECT@ECT, Robert Brewis/LON/ECT@ECT,
Chris Shapland/LON/ECT@ECT

Subject: New Counterparty - President & Fellows of Harvard College

Hi

We've received a PA registration form from President & Fellows of Harvard
College  for EnronOnline.  I've entered the customer details in the customer
database (s:/access database).  Please review and confirm via return e-mail
once approval is completed.  Attached is the PA registration form for your
review.

Regards

Imelda Frayre

---------------------- Forwarded by Imelda Frayre/LON/ECT on 21/11/2000 07:53
---------------------------

London Fax System
20/11/2000 22:07
To: Enron London - EOL Product Control Group/LON/ECT@ECT
cc:

Subject: New fax received (Likely sender: 713 646 8511).

You have received a new fax from 713 646 8511

The image contains 3 page(s).


thanks for setting it up.

Greg Whalley
11/20/2000 04:04 PM
Sent by: Liz M Taylor
To: Daniel Reck/HOU/ECT@ECT
cc: Jody Underwood/NA/Enron@ENRON
Subject: Dinner w/I2 & Freight Matrix - 11/21

Dan,

You and Greg are dining w/Greg Brady, President of I2 & Mark Skoda, CEO of
Freight Matrix @ 7:00p.m. tomorrow night.

   McCormick & Schmick's Seafood (713-840-7900)
   1151 Uptown Park Blvd
   (between San Felipe & 610 Loop - Galleria Area)
   Reservation under: Whalley

Liz


The Quality System documentation (Procedures and Instructions) are located on
the network.  Please take time to review the applicable documents to see how
they affect you.

The easiest method of accessing the documents is to first create shortcuts on
your computer desktops to the Excel spreadsheets.  To perform this one time
setup, do this:

FOR INSTRUCTIONS
Select (double click) Network Neighborhood application
Select (double click) Ewtesting server
Select (double click) Quality folder
Select (double click) Quality Mgt System folder
Select (double click) Operating Instructions Doc 100003 folder
Click and hold the left mouse button on the Excel file Operating Instructions
Master List and drag the file to your desktop.  Release the mouse button when
your cursor is over the desktop

FOR PROCEDURES
Select (double click) Network Neighborhood application
Select (double click) Ewtesting server
Select (double click) Quality folder
Select (double click) Quality Mgt System folder
Select (double click) Operating Procedures Doc 100002 folder
Click and hold the left mouse button on the Excel file Operating Procedures
Master List and drag the file to your desktop.  Release the mouse button when
your cursor is over the desktop

To review a specific instruction, open the Excel file Operating Instructions
Master List and click on the hyperlink in the DOCUMENT column.

To review a specific procedure, open the Excel file Operating Procedures
Master List and click on the hyperlink in the DOCUMENT column.

As documents are revised, the people / organizations affected will receive an
email notice of the change.  These changed documents will be accessible
through the Excel spreadsheets listed above.  People are responsible for
reviewing the  revised documents.  If you have any questions concerning the
documents, please contact me.

Mitch Thomas


I thought that someone retrieved the originals (which has been signed by GE
but not Enron) while I was in Ft. Worth for my dad's surgery. Marty mentioned
that you were looking for them, so I thought  he had given them to you (he's
out this week).  I have not seen the termination agreement since I returned.
Did you and John leave fully executed termination agreements in my office?
Maybe someone else picked them up.

I can't tell you what's going on with the assignment.  Perhaps Peggy Banczak
can help out with that.

Kay

Brian D Barto@ENRON_DEVELOPMENT
07/17/2000 08:00 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Vitro/Termination agreement

Schroeder and I left two signed originals with you, so what does "processed"
mean.  Yes, thankyou for asking, GE has received their fully executed
original, and therefore should be prepared to issue the invoice to
Purchaser.  But I have not seen the invoice yet.

What is the status of the assignment of the GE contract to Mitsui?  Did the
invoice go to them?

To: Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peggy
Banczak/HOU/ECT@ECT
cc:

Subject: Vitro/Termination agreement

I haven't seen a signed copy of the termination agreement cross my desk.  I
just want to make sure that the fully executed document has been processed.

Thanks,

Kay


fyi

 -----Original Message-----
From: 	CustomerNotices, WGPHOU [mailto:WGPHOU.CustomerNotices@Williams.com]
Sent:	Wednesday, December 19, 2001 2:51 PM
Subject:	Gas Merchantability Reminder

December 19, 2001

Notice to: All Producers, Receipt Point Operators,
Interconnecting Pipelines and Shippers on the Transcontinental
Gas Pipe Line Corporation (Transco) System

 Subject: Gas Merchantability Reminder

Transco has been receiving gas with a slightly higher heating
content (btu/cf) in its mainline over the past week and feels
this is the result of processing plants scaling back their
operations due to poor economics. Transco reminds Producers and
Shippers on its system to ensure that processing arrangements
are in place and that the gas received by Transco meets its
merchantability requirements.

These gas merchantability specifications are outlined in
Transco's gas merchantability notice, most recently re-posted
July 27, 2001.

If you have any questions concerning this notice, please contact
the following at Transco: Ron Doyle, 713-215-2921 or Terry
Fitch, 713-215- 3361.


fyi
 -----Original Message-----
From: 	Ambler, John
Sent:	Thursday, December 06, 2001 5:38 PM
To:	Lay, Kenneth; Whalley, Greg; Frevert, Mark; McMahon, Jeffrey; Bowen Jr., Raymond; Derrick Jr., James; Oxley, David
Cc:	Kean, Steven J.; Palmer, Mark A. (PR); Joyce, Mary
Subject:	Proposed Employee Letter on Retention Program

Attached is a proposed letter to employees, which has been prepared in cooperation with Mary Joyce and Weil, Gotshal &  Manges.  We believe it is important to get this letter out Friday morning.  If you have any comments, please send them to me by 9:00 a.m. on Friday.  If you have an objection to sending the letter, please call Steve Kean, Mark Palmer or me (ext. 66423).


Carrie -

I have made the couple of changes you requested to the document and provided
both a black line and clean version.

Please let me know if you should need anything further.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Brenda,
	Hope this addresses your needs, I will continue to gather information on this action item.

	If you have any question please give me a call at 503-807-8959

					Chris


Reagan,

FYI, it would bother me if Marvin called our outside counsel.  If you want
me to call David,  just ask.  I'll be glad to do it, although I don't suggest
bugging the other parties' counsel too much.  It uses up relationship
capital, and it causes the counterparty to incur expenses they may not want
to incur.

Another FYI -  I don't much like Enron commercial folks calling Enron outside
counsel unless we've discussed it in advance.  It violates Enron policy.  So
once we have outside counsel on board, you still deal directly with me, and
I'll manage the outside resources.  It really works better that way.

Kay

From: Reagan Rorschach/ENRON@enronXgate on 03/19/2001 10:10 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Clarksdale

Kay-

I just called David Hunt and actually got him on the phone.  He said he was
reviewing Marvin's and Bob's comments on His changes.  He committed to
getting those to us directly.

 -----Original Message-----
From:  Mann, Kay
Sent: Monday, March 19, 2001 9:08 AM
To: Rorschach, Reagan
Subject: RE: Clarksdale

Reagan,

I don't suggest it, especially since this is not an "off the shelf" deal.
There are so many moving parts to this deal it could slow it down in the long
run to get someone else involved for a few days. It is like getting a new
commercial guy involved for 4 days. I'll defer to the great and powerful Oz.

I should be available most of the day, so let's see how things go.

Kay

From: Reagan Rorschach/ENRON@enronXgate on 03/19/2001 08:34 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Clarksdale

Kay,

Marvin is out of pocket right now.  If we do not hear from David Hunt this
morning, is there someone running backup for you?

 -----Original Message-----
From:  Mann, Kay
Sent: Monday, March 19, 2001 8:12 AM
To: Rorschach, Reagan
Subject: RE: Clarksdale

Federal jurisdiction and limit of liability verbage.  That's what comes to
mind at this point.

Could you email me the most current version (I think it was March 3)?

Thanks,

Kay

From: Reagan Rorschach/ENRON@enronXgate on 03/19/2001 08:00 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Clarksdale

You were reading my mind.  What is the list of things he owes us?  David F.
and I will call Marvin to report on the status.

Thank you,

Reagan
713.345.3363
 -----Original Message-----
From:  Mann, Kay
Sent: Monday, March 19, 2001 7:55 AM
To: Rorschach, Reagan
Cc: Pagan, Ozzie; Fairley, David
Subject: Clarksdale

Reagan,

I haven't received an email from David Hunt yet.  I will make the changes you
and I discussed last week, and perhaps we will get David's changes sometime
today.

Kay


My vote is to kill it.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 12/02/2000
10:11 AM ---------------------------

Raymond Bowen@ECT
11/30/2000 12:18 PM
To: David W Delainey/HOU/ECT@ECT
cc: Dorie Hitchcock/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg
Whalley/HOU/ECT@ECT

Subject: Re: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM

Dorie,
I share Dave's skepticism.

Ray Bowen

David W Delainey
11/30/2000 11:26 AM
To: Dorie Hitchcock/HOU/ECT@ECT
cc: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg
Whalley/HOU/ECT@ECT
Subject: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM

Dorie, I have to question the effectiveness of this program.  Over the years,
it appears that more spots are being filled by Enron people then customers.
The effectiveness of this forum from a customer point of view is
questionable.  I vote to kill it.

Please forgive the approach - but I would like to provoke a discussion with
my partners.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/30/2000
11:20 AM ---------------------------

	From:  Dorie Hitchcock                           11/30/2000 06:40 AM

To: Sylvia S Pollan/HOU/ECT@ECT, Robyn Zivic/NA/Enron@Enron, Andrew H
Lewis/HOU/ECT@ECT, Geoff Storey/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT,
Patrice L Mims/HOU/ECT@ECT, Kevin Ruscitti/HOU/ECT@ECT, Kelli
Stevens/HOU/ECT@ECT, Tom Donohoe/HOU/ECT@ECT, Joe Parks/Corp/Enron@ENRON,
Janet H Wallis/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, Jill T
Zivley/HOU/ECT@ECT, Brian Bierbach/NA/Enron@Enron, John Craig
Taylor/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Daniel Reck/HOU/ECT@ECT,
George McClellan/HOU/ECT@ECT, Mark Tawney/HOU/ECT@ECT, Jere C
Overdyke/HOU/ECT@ECT, Larry Lawyer/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT,
Eric Gonzales/LON/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT, Doug Leach/HOU/ECT@ECT, Bryan
Burnett/HOU/ECT@ECT, Wendy King/Corp/Enron@ENRON, Tim Battaglia@Enron,
Douglas B Dunn/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT, Billy
Lemmons/Corp/Enron@ENRON, David Howe/Corp/Enron@ENRON, Mark
Frevert/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron, David W
Delainey/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Jeffery Ader/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT,
Tim Belden/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, Derek Davies/CAL/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT,
Joseph Deffner/HOU/ECT@ECT, Paul Devries/TOR/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Scott
Josey/Corp/Enron@ENRON, C John Thompson/Corp/Enron@ENRON, Fred
Lagrasta/HOU/ECT@ECT, Eric LeDain/CAL/ECT@ECT, Laura Luce/Corp/Enron@Enron,
Thomas A Martin/HOU/ECT@ECT, Jonathan McKay/CAL/ECT@ECT, Michael L
Miller/NA/Enron@Enron, Rob Milnthorp/CAL/ECT@ECT, Jean Mrha/NA/Enron@Enron,
Scott Neal/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT,
Beth Perlman/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Brian
Redmond/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, James D
Steffes/NA/Enron@Enron, Fletcher J Sturm/HOU/ECT@ECT, Bruce
Sukaly/Corp/Enron@Enron, Mike Swerzbin/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron, Barry Tycholiz/CAL/ECT@ECT, Frank W
Vickers/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON,
John Zufferli/CAL/ECT@ECT, Deirdre McCaffrey/HOU/ECT@ECT, Jennifer
Shipos/HOU/ECT@ECT
cc:
Subject: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM

Winter is just around the corner and the new ski season will be opening
soon.  Please review the proposed information below, regarding the
ENA/EGM/EIM Customer Ski Program, to help us determine what our needs will be
for the 2001 season.

Location:  Beaver Creek, Colorado
Preliminary Dates:  February 21 - March 14, 2001
Approximate Cost Per Person:  $2,600 (based on 82 participants)

The preliminary dates have been divided into 6 trips:
TRIP	DATES	TOTAL # OF BEDS
Trip 1	Wed, February 21 - Sat, February 24	11
Trip 2	Sun, February 25 - Wed, February 28	17
Trip 3	Wed, February 28 - Sat, March 3	13
Trip 4	Sun, March 4 - Wed, March 7	13
Trip 5	Wed, March 7 - Sat, March 10	13
Trip 6	Sun, March 11 - Wed, March 14	15

The program cost per person includes:
? Four days/three nights accommodations in luxurious private homes in the
premier Holden Road/Borders Road area of Beaver  Creek with daily maid service
? Animated invitation with on-line registration
? Round-trip airport ground transportation
? Experienced property hosts
? Daily lift tickets and ski instruction
? Ski equipment rental
? Catered dinner two nights
? Catered breakfast daily
? Off-site dinner coordination
? Alternate activity coordination
? Private vans at each house
? One massage with experienced in-house massage therapists
? Enron promotional gift item
? Pre-program administration and coordination
? On-site operation

If you are interested in participating in the 2001 ski program, please submit
an email  request to me no later than Friday, December 8th, including the
following information:
Name
Company
Department
Telephone
Fax
Number of People
Choice of Dates (1st, 2nd & 3rd)
Company #
RC #

The week of December 11th, all requests will be compiled for review and final
approval.

Questions should be directed to my attention at (713) 853-6978.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/16/2001 02:52 PM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 03/06/2001 12:01:35 PM
To:	Ben Esty <besty@hbs.edu>, Greg Willard <gwillard@mit.edu>, aagrawal@cba.ua.edu, Andres Almazan <Andres.Almazan@bus.utexas.edu>, bethel@babson.edu, Murat Binay <mbinay@mail.utexas.edu>, abutler@finance.bus.lsu.edu, Tyrone.Callahan@bus.utexas.edu, Murray Carlson <carlsonm@mail.utexas.edu>, chapman@eco.utexas.edu, Kent Daniel <kent@kent.kellogg.nwu.edu>, fdiebold@mail.sas.upenn.edu, lederington@ou.edu, Harper1@U.Washington.edu, sgillan@tiaa-cref.org, Stuart Gillan <sgillan@tiaa-cref.org>, Denis Gromb <dgromb@mit.edu>, grullon@rice.edu, jarradh@oregon.uoregon.edu, jhartzel@stern.nyu.edu, Jhund@mail.utexas.edu, daveike@rice.edu, jegadees@uiuc.edu, Cindy.Justice@enron.com, Matthias Kahl <matthias.kahl@anderson.ucla.edu>, Vince.J.Kaminski@enron.com, zkhokher@mail.utexas.edu, alynch@debit.stern.nyu.edu, Andras Marosi <Andras.Marosi@bus.utexas.edu>, "John D. Martin" <J_Martin@baylor.edu>, Maxwell@ba.ttu.edu, Beth Miertschin <Beth.Miertschin@enron.com>, metrick@Wharton.upenn.edu, "Thomas H. Noe" <tnoe@mailhost.tcs.tulane.edu>, Parrino@mail.utexas.edu, Bill Petty <Bill_Petty@baylor.edu>, manju puri <mpuri@Stanford.EDU>, Ramnath@rice.edu, rampini@nwu.edu, steve_rich@baylor.edu, eronn@mail.utexas.edu (Ehud I. Ronn), Kemal Saatcioglu <KemalS@mail.utexas.edu>, Akin Sayrak <asayrak@katz.pitt.edu>, sirri@babson.edu, Laura Starks <lstarks@mail.utexas.edu>, suarez@cemfi.es, "A. Subrahmanyam" <asubrahm@anderson.ucla.edu>, Stice@mailhost.tcs.tulane.edu, Titman@mail.utexas.edu, stathis.tompaidis@bus.utexas.edu, wangfa@rice.edu, hong.yan@bus.utexas.edu, Beth Miertschin <Beth.Miertschin@enron.com>, "Karin S. Thorburn" <Karin.S.Thorburn@Dartmouth.EDU>
cc:
Subject:	Hello all

Update:

Preparations for the upcoming Texas Finance Festival III are about complete
and I just wanted to update you on the hotel reservations information.  You
will need to make your reservation before March 20 to be assured of getting
a room in our reserved block.  Also, for "counting" purposes I need
everyone's registration form completed.  Many of you (and a lot of new
faces) have already sent them in but some may not have, so . . .

Lots of fun stuff is planned so come prepared for a very relaxing and
productive weekend!

John

 - announcerev.doc

John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Thanks for sending down the ISDA.  MDS


IN THE LEAD: Ranking Systems Gain Popularity but Have Many Staffers Riled
By Carol Hymowitz

05/15/2001
The Wall Street Journal
B1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

MANY CHIEF EXECUTIVES, from General Electric's Jack Welch to Enron's Jeffrey
Skilling and Ford's Jacques Nasser, swear by the process. Many of their
employees swear about it.
It is known as the performance review ranking system and it requires managers
to rank employees against each other on a bell curve. At GE, which has used
the system for several years, this means that 20% of salaried, managerial and
executive employees are rated outstanding each year, 70% "high-performance
middle" and 10% in need of improvement.
At Enron, where some have nicknamed the system "rank and yank," employees are
put in one of five categories: 5% are identified as superior, 30% excellent,
30% strong, 20% satisfactory and 15% "needs improvement."
And Ford, which began using rating systems last year, dictates that 10% of
the auto maker's 18,000 managers will get A grades, 85% Bs and 5% Cs.
(Initially, it asked for 10% Cs.) Those who receive a second consecutive C
can be fired.
Executives who aim to improve their staffs' performance and weed out deadwood
say the grading systems force their managers to frankly assess and inform
employees about their work, and chances for promotions. Otherwise, they say,
managers tend to push along poor performers with deceptively inflated
reviews.
"Not removing that bottom 10% early in their careers is . . . a form of
cruelty because inevitably a new leader will come along and take out that
bottom 10% right away, leaving them, sometimes midway through their careers,
stranded," GE Chairman Mr. Welch wrote in his annual letter to shareholders
in February.
THE GRADING SYSTEMS, however, are based on subjective judgments and often
produce skewed results, critics say. Employees who belong to a particularly
talented or productive unit, for example, may receive poorer grades than they
would get in a less-talented unit. And while employees who are either
outstanding or weak usually stand out, trying to strictly quantify each group
can be a problem. "Once you start attaching a number or percentage to this
group, they no longer fit the definition of exceptional," says Mary Jenkins,
a Brighton, Mich., business consultant.
At the same time, trying to distinguish among the vast majority of employees
in the middle who rates a three and who rates a four, for example, may be
impossible. "There's an assumption that a manager can know the precise
performance level of an employee, when this sort of ranking is really a very
subjective judgment that depends on many factors," says Tom Coens, an East
Lansing, Mich., labor attorney and co-author with Ms. Jenkins of the book
"Abolishing Performance Reviews."
Among these factors are a manager's own biases about the qualities he values,
and the fact that management is so often in transition. Also, ranking by a
single grade tends to blur the range of talents and deficits within one
person.
Moreover, the grading systems pit employees against each other, undermining
teams, which are often intentionally put together with varying talents in
mind. In Internet chat rooms, scores of employees complain they've been
graded unfairly, feel angry and unappreciated, and don't want to collaborate
with co-workers with higher grades.
The grading systems also have triggered employee lawsuits at Ford, Conoco and
Microsoft. One class-action lawsuit filed against Ford in February alleges
that the grading system discriminates against older workers. A second suit
alleges it discriminates against older white males.
DEFENDING THE SYSTEM as fair and necessary in a competitive industry, Anne
Marie Gattari, a Ford spokeswoman, says that in the past employees "weren't
given honest and frank feedback that they could use to improve themselves. It
wasn't a good system for them as much as it wasn't a good system for the
company." But some Ford employees in their 50s and older who received Cs
believe the grading system is a way to get rid of them.
"They've gotten excellent written evaluations for years and all of a sudden
they get a C," says Michael Pitt, a Royal Oak, Mich., attorney who is
representing nine Ford employees.
Even employees who have received high grades question their value. Steve
Carpinelli, a former research analyst at EDS, says he was graded in the top
1% of his peers, yet was laid off about 18 months ago when the company cut
staff and dissolved his business unit. "It was confusing because no one ever
clearly communicated what the ratings would be used for," he says.
An EDS spokesman, noting that more than 13,000 jobs were cut in the
reorganization, said, "Unfortunately, even for some good employees, there
were not always other positions available."
Defenders of grading systems acknowledge that their fairness and usefulness
depend largely on how they are implemented. GE initially assigned employees
one of five grades but streamlined that into three grades. "We had a system
where 90% of employees felt demoralized," says Bill Conaty, senior vice
president of human relations.
GE tries to make sure the bulk of managers who fall in the middle ranks don't
feel demoralized by rewarding many of them with stock options. "These people
may not be highly promotable but they may be your best plant manager or your
best design engineer," he says.
---
E-mail comments to inthelead@wsj.com. To see other recent columns, go to
CareerJournal.com.

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


Tom:

Per my discussion with you this morning, please coordinate with each of the book administrators (and other appropriate personnel) and explain the process for compilation of the counterparty trading exposure data for the EGM commodity trading businesses. The attachments are the templates for listing the counterparties and corresponding trading exposure data. This approach will put the EGM information on the same playing field with power and gas. This will also help with the forthcoming Ernst & Young/Creditors' Committee discussions about valuations and potential settlements with counterparties.

Alan

 -----Original Message-----
From: 	Nettelton, Marcus
Sent:	Friday, December 14, 2001 11:12 AM
To:	Aronowitz, Alan; Cook, Mary; Gresham, Wayne; Hall, Steve C. (Legal); Hansen, Leslie; Hendry, Brent; Hodge, Jeffrey T.; Koehler, Anne C.; Leite, Francisco Pinto; McCullough, Travis; Moore, Janet H.; Murphy, Harlan; Nemec, Gerald; Nettelton, Marcus; Nicolay, Christi L.; Portz, David; Sager, Elizabeth; Shackleton, Sara; St. Clair, Carol; Taylor, Mark E (Legal); Van Hooser, Steve; Yoder, Christian; Mellencamp, Lisa
Cc:	Miller, Don (Asset Mktg)
Subject:	Non-Terminated Contract Review
Importance:	High
Sensitivity:	Confidential

Further to our meeting yesterday attached is an Excel spreadsheet and a form for document review for non-terminated contracts. In order that the review we do of the contracts and information we obtain can be put to best use for both legal and commercial purposes, you will need to input information into BOTH the spreadsheet and the document review form.

Don Miller will be advising shortly as to the contact person in his team to whom all the completed spreadsheets and document review forms, in electronic form, should be sent. In addition the document review form should, once completed, be printed out and attached to the front of the relevant contract. For the moment please keep all contracts assigned to you until we decide who should keep and manage these contracts going forward.

We are working towards a Monday close of business deadline for the East for completion of this legal review process. I understand that the contracts for the West have not arrived yet and therefore propose that we obtain an update from Christian and Steve on their progress on Tuesday, recognising that Monday is an unrealistic deadline for them.

Marcus


So sorry, I thought I had sent out this e-mail on my last day 9-6-00. Instead
I had saved it as a draft. Some of the information is out of date, but useful
for reference.

Interconnection Workshop Report:  The supplemental CEC Draft Committee Report
was issued 9/1/00. The Report will be heard at the CEC on 9/7. We will have
an opportunity to file written comments on the draft report if the issue is
not fully addressed at the hearing.  Written comments must be served on the
99-DIST-GEN(2) service list and received by the Energy Commission by 5:00 pm,
Pacific Daylight Time on September 15, 2000.  No late filings will be
accepted under any circumstances.  For purposes of meeting the deadline,
however, you can e-mail your comments to Scott Tomesheski at
tomashe@energy.state.ca.us by the above-mentioned deadline. We will still
need to file an original and 10 sets of written comments to the Energy
Commission docket office.

The Siting Committee is expected to release a revised report by September
29th.  The full Commission anticipates considering the supplemental
recommendation for approval at its October 18th business meeting.

 Bob Frank has been added to the distribution list.

Interconnection Rules: The interconnection rules do not address Exporting.
They do not prevent Exporting. This is good because modification to the rules
would have to be done by petition to modify the final decision

Interconnection Agreement: We managed to not exclude Exporting from the DG
interconnection Agreement. however, the agreement does not explicitly
address. Exporting. It allows for supplemental agreements to be attached to
the extent that they are under the CPUC jurisdiction. If the CPUC asserts
jurisdiction over the retail wheeling, the agreement will be valid and will
need additional attachments. Modifications to this document can be done by
Advice Letter filing.

Interconnection Application: This document does not include exporting, except
if you are QF and exporting under 100 kW. Once approved, modifications to
this document to this document can be done by Advice Letter filing. We may
want to address this issue in written comments by 9/7. We may also want to
wait how the CPUC rules on retail wheeling and then address the issue.

ISO issues: The ISO will be filling at the FERC metering and scheduling
requirement for DG units - Participating Generators or other. The ISO intends
to file at FERC shortly. I asked Jeanne Sole of the ISO to contact Sue with
the schedule.In short the ISO would like to require that gross Load and
generation be Scheduled by the ISO at the transmission as well as
Distribution level. The ISO intends to require all participating generation
of 1 MW and above and all Generation of 10 MW and above to meter there gross
generation (whether for self consumption or export. They intend to require
telemetric meters, resulting in high installation, purchase and operational
costs. They also intend to apply GMC and TAC on gross generation including
generation for self consumption.


worse for SCE and generators, who have to eat the small guy share of the undercollection
between them. No transmission sale.

D

Jeff.Dasovich@enron.com wrote:

> better or worse than ours?
>
>
>                     Dorothy
>                     Rothrock             To:     Jeff.Dasovich@enron.com
>                     <drothrock@cm        cc:
>                     ta.net>              Subject:     Re: Sher Shops Alternative Edison
>                                          Bailout Plan
>                     07/11/2001
>                     12:20 PM
>
>
>
> let me know if delaney doesn't send to you...
>
> d
>
> Jeff.Dasovich@enron.com wrote:
>
> > Thanks.  415.782.7854.  Better or worse than ours?
> >
> >
> >                     Dorothy
> >                     Rothrock             To:     Jeff.Dasovich@enron.com
> >                     <drothrock@cm        cc:     Ann.Cohn@sce.com,
> "'Barbara Barkovich
> >                     ta.net>              (E-mail)'"
> <brbarkovich@earthlink.net>, "Dominic
> >                                          DiMare (E-mail)"
> <dominic.DiMare@calchamber.com>,
> >                     07/11/2001           "'John Fielder (E-mail)'"
> <fieldejr@sce.com>,
> >                     11:54 AM             "'Phil Isenberg (E-mail)'"
> <isenberg@hmot.com>,
> >                                          "'Jeff Dasovich (E-mail)'"
> <jdasovic@enron.com>,
> >                                          "'Keith McCrea (E-mail)'"
> <kmccrea@sablaw.com>,
> >                                          "'Linda Sherif (E-mail)'"
> <lys@a-klaw.com>,
> >                                          "'Linda Sherif (E-mail 2)'"
> <lysherif@yahoo.com>,
> >                                          "'Gary Schoonyan (E-mail)'"
> <schoongl@sce.com>,
> >                                          "'John White (E-mail)'"
> <vjw@cleanpower.org>,
> >                                          dhunter@s-k-w.com,
> Rick.Simpson@asm.ca.gov
> >                                          Subject:     Re: Sher Shops
> Alternative Edison
> >                                          Bailout Plan
> >
> >
> > I have the plan.....who wants it? send your fax number (and $10 for
> > shipping
> > and handling....just kidding)
> >
> > D
> >
> > Jeff.Dasovich@enron.com wrote:
> >
> > > Folks:  Please see highlighted sections.  Anyone seen Byron's plan?
> Know
> > > where it's headed, etc.?
> > >
> > > Best,
> > > Jeff
> > >
> *************************************************************************
> > > Power purchase bills exceed $7.5 billion
> > >
> > > Published Tuesday, July 10, 2001, in the San Jose Mercury News
> > > BY MARK GLADSTONE, NOAM LEVEY AND DION NISSENBAUM
> > >
> > > Mercury News Sacramento Bureau
> > >
> > > SACRAMENTO -- Six months after jumping into the electricity business,
> the
> > > Davis administration on Monday provided the first detailed glimpse of
> > > California's daily power purchases, showing more than $5 billion in
> > > payments, much of it to government-owned utilities and private
> companies
> > > that state officials have branded as price gougers.
> > >
> > > The state spent an additional $2.5 billion on a variety of contracts
> and
> > > other electricity services designed to stabilize the volatile energy
> > > markets, according to documents that the state agreed to release last
> > week
> > > amid a legal dispute over public access to the data.
> > >
> > > In roughly the first five months of the year, the state shelled out
> $1.2
> > > billion to Atlanta-based Mirant, the most any company was paid for
> > > electricity, followed by $1 billion to Powerex, the marketing arm of BC
> > > Hydro in British Columbia. It also paid $331 million to the Los Angeles
> > > Department of Water and Power.
> > >
> > > The documents raise questions about some of the common assumptions that
> > > have arisen around the electricity crisis. For instance, almost 40
> > percent
> > > of the state's purchases have come from government-run power generators
> > in
> > > California and elsewhere, but not Texas; some of the biggest suppliers
> > are
> > > from the Northwest.
> > >
> > > Gov. Gray Davis, who has ambitions to run for the White House, has put
> > much
> > > of the blame for the soaring costs of power on energy companies based
> in
> > > President Bush's home state.
> > >
> > > The figures are tucked inside 1,770 of pages of invoices that Davis has
> > > resisted divulging, saying disclosure would encourage suppliers to
> charge
> > > more. The state, which last month released information on its long-term
> > > electricity contracts worth $43 billion, agreed Thursday to release the
> > > first quarter details.
> > >
> > > Short on explanation
> > >
> > > The figures were disclosed late Monday by the California Department of
> > > Water Resources, which buys power for the state's financially strapped
> > > major utilities, and seem to buttress the administration's contention
> > that
> > > the price of power is gradually dropping but offer little or no
> > explanation
> > > for what prompted the decrease.
> > >
> > > In January, for instance, the average price for power on the spot
> market
> > > was $321 a megawatt hour. It peaked in April at $332 and dropped to
> $271
> > in
> > > May.
> > >
> > > One megawatt powers about 750 homes.
> > >
> > > Davis spokesman Steve Maviglio said the price data supports the
> > governor's
> > > assertions that California has been gouged. ``The bad guys are clearly
> > the
> > > out-of-state generators,'' Maviglio said. ``There has been a
> significant
> > > shift of money out of California.''
> > >
> > > But the documents fail to shed much light on whether, as the
> > administration
> > > contends, the price drop was due to long-term power contracts
> negotiated
> > by
> > > the state earlier this year. Critics contend that the Davis
> > administration
> > > panicked and rushed into deals that commit the state to pay high prices
> > for
> > > many years.
> > >
> > > Used for support
> > >
> > > Republican officials used the price information to bolster their
> attacks
> > > against Davis, a Democrat, for signing long-term contracts with power
> > > generators even as the price of power on the spot market was coming
> down,
> > > partly because of the declining price of natural gas used to fuel many
> > > plants.
> > >
> > > ``It's more clear than ever that the long-term contracts are a bad
> > deal,''
> > > said Assemblyman Tony Strickland, R-Camarillo. ``The governor's really
> > hurt
> > > the ratepayers for the next five or 10 years.''
> > >
> > > The newly released bills highlight the volatility of California's
> energy
> > > market, where the price per megawatt hour ranged from $70 to $1,000. On
> > any
> > > given day, the records show, the prices from seller to seller varied
> > > widely, with some of the highest prices being charged by public
> utilities
> > > and companies outside Texas.
> > >
> > > On one day in February, for example, San Diego-based Sempra Energy was
> > > charging $165 per megawatt hour, the Eugene Water and Electric Board
> was
> > > charging nearly $500 and Duke Energy, a North Carolina company, was
> > > charging up to $575.
> > >
> > > The state's daily spending peaked May 10 at $102.4 million for all
> power,
> > > including the spot market and contracted power.
> > >
> > > The state began buying power in mid-January on behalf of the state's
> > major
> > > utilities, which were unable to borrow money to buy power after
> amassing
> > > enormous debts for electricity.
> > >
> > > San Jose-based Calpine Corp., which is building several new power
> plants
> > > around California including one in South San Jose, did only $29 million
> > > worth of business with the state in the first five months of the year,
> > > according to the figures.
> > >
> > > The state began buying power in mid-January when Pacific Gas & Electric
> > Co.
> > > and Southern California Edison Co. were on the ropes financially. PG&E
> > > later went into bankruptcy.
> > >
> > > On Monday, state lawmakers took another shot at trying to cobble
> together
> > a
> > > plan to rescue financially ailing Edison.
> > >
> > > While most concede that a rescue plan Davis worked out with Edison will
> > not
> > > win the necessary support in the Legislature, lawmakers have created
> > > several working groups to come up with alternatives.
> > >
> > > Compromise plan
> > >
> > > On Monday, state Sen. Byron Sher, D-Redwood City, unveiled the latest
> > > compromise proposal that seeks to protect average ratepayers and small
> > > businesses from further rate increases and forces everyone else to help
> > > finance the Edison bailout.
> > >
> > > The ``shared pain'' proposal would force power producers, owed about $1
> > > billion, to take a 30 percent ``haircut'' and agree to forgive about
> $300
> > > million in Edison debts. Edison would be asked to swallow $1.2 billion
> --
> > > about a third of its debt. And big users would be asked to pay off the
> > > remaining $2 billion in debts, possibly by paying higher prices for
> > power.
> > >
> > > In exchange, large companies would be given the opportunity to buy
> power
> > on
> > > the open market, a system that would allow many of them to sign cheap
> > > energy deals.
> > >
> > > Sher presented the proposal to Senate Democrats Monday afternoon, but
> it
> > > remains unclear how much support the framework will receive in the
> > > Legislature.
> > >
> > > Contact Mark Gladstone at mgladstone@sjmercury.com or (916) 325-4314.


I am in an all day PRC meeting on Tuesday. Thanks.

Susan Scott
11/30/2000 10:24 AM
To: Steven Harris/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON
cc: Drew Fossum@ENRON

Subject: Max rate issue on TW

Steve and Lindy, as I mentioned in our staff meeting, it is probably not
going to be possible to solve our max rate cap dilemma by making a tariff
filing unless we can 1) get FERC to change its mind about its policy that
recourse rates always be available as an alternative to negotiated rates or
2) prove that Transwestern lacks market power and should therefore be allowed
to charge market based rates.

The following is a very brief outline of what would be required to prove lack
of market power.  A warning:  lack of market power is very difficult to
prove.  Koch, a pipeline that most in the industry would agree does lack
market power, tried and failed.  The deck is already stacked against us in
TW's case given the withholding of capacity by El Paso's affiliate and the
price conditions in California.  However, we do need to analyze the
possibilities for TW, if not to the Cal. border, then on other parts of our
system.  Additionally, we need to discuss acceptable incentives for shippers
to pay negotiated rates if we do not end up changing our tariff.

Would you be availabile on Tuesday to discuss this?  Please let me know.  In
the meantime, here is a summary of FERC's policy on market based rates.

***

To obtain authority to charge market based rates, TW would first have to
request a declaratory order, and in its application provide information
showing it meets the requirements outlined below.  If the Commission finds
all requirements have been met, it will issue an order and TW would then make
the appropriate tariff filing to put market based rates into effect.

Application for declaratory order must include:

1.  Detailed description of the services proposed for market-based rate
treatment.  I assume in our case it would be firm transportation service.

2.  A statement defining the relevant product and geographic markets
necessary for establishing the applicant lacks market power with respect to
the services at issue.  The Commission requires a narrow definition of the
market("firm transportation" is probably narrow enough, but for our purposes
we might want to narrow it down more (i.e., firm transportation East of
Thoreau).  We have to define substitute services available to shippers(other
pipelines are a "good substitute" only if shippers can obtain the same
quality of service on a timely basis, and if the other pipelines offer such
service at a price that would deter TW from raising its prices more than
10%.  All relevant "origin markets" must be defined (Panhandle; West Texas)
as well as "destination markets," and alternatives for shippers in those
markets identified.  Transportation alternatives are only good alternatives
if they provide a netback to shippers that is roughly the same as if they
used TW.  Note that the Commission has rejected capacity release as a good
alternative since it does not guarantee a shipper its desired contract
quantity.

3.  Market share and HHI calculations; discussion of other relevant
competitive factors.  Commission looks at size of market share, mitigating
factors such as ease of entry, and market concentration as measured by HHI.
Market concentration has to be calculated for each relevant receipt point and
delivery point.  HHI is calculated by adding up the total market share and
squaring it.  There is a presumption of no ease of entry for transportation
services  because of the expense involved in constructing facilities.

4.  Proposal for accounting for costs and revenues.


Dennis's phone number is (602) 728-3156.

Kimberly Hundl@ENRON
03/01/2001 02:36 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Need Contact Info...

Hi Kate,
Can you please give me a contact info for Dennis St. Jean, or whoever I'm
supposed to contact, at Tosco Refining Company (Deal #533134)?
Thanks!
Kim


These changes are ok.  In addition, please add "Transporter"  after
"Seller's" in line 8 of "8.5" (1).

dp


Plucci, are you Italian?  Just wondering.  How is this match on-line luv' stuff going for you anyway?

Laura

Click the following link to view the sender's profile:
http://www.match.com/doubleblind/showprofile.asp?UserID=48494947464F47&trackingid=0

The following is my profile text:

I would describe myself as extremely comfortable with who I am, mostly because I have an unsually close family. Most people can't believe how non-dysfunctional we are. I guess that is why I have managed to stay single so long. I am not in a hurry to rush into something just because it's the thing to do. I like sports both spectator and participation. Av's. Broncos, Pioneers etc. I really could do without the Nuggets and Rockies, even though I was mesmerized by the World Series this year. I like to bike, ski, golf etc. I read a lot, but it goes in spurts. I'll read three books in a week and then wait 3 weeks to pick up another book. I love to cook. I would like someone who can go out and mix in a lot of different situations, or hang out at home, and do absolutely nothing.

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

ADDITIONAL TIPS from Love@Netscape by Match.com:

Our anonymous re-mailer will strip away your real email address, so
that it will NOT appear in the 'From:' line.

You may also contact this person from their Love@Netscape by Match.com profile by
clicking 'Contact this person' and composing your message directly from the
site.

However:

* Check to ensure that your email address is not in the BODY of your
message as we are unable to remove these.

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your email. And note that you cannot use 'Cc:' or 'Bcc:' if you want
your email to remain anonymous.

Love@Netscape by Match.com does not monitor private email between members, nor are we
liable for the content of these messages. All members are bound by our
Love@Netscape by Match.com Service Agreement.


Reminder:

The ENW staff meeting will be held on Thursday, October 25, 12:00 pm, in ECS4075.  Assistants, please let me know if your executive will be attending, not attending or participating via teleconference.

Thanks,
Katherine Chisley
x58463


Sara,

Maybe a conference call with Gregg would be the most productive way to go.

Kay

From: Sara Shackleton@ECT on 08/23/2000 05:19 PM
To: Kay Mann/Corp/Enron@Enron
cc: Gregg Penman/Corp/Enron@Enron

Subject: Midwest Energy Hub LLC ("Midwest")

Kay:  I left you a voice mail yesterday at Sheila's suggestion regarding
Midwest.  Greg and I discussed the use of ENA's format of ISDA documentation
by Midwest and I have a couple of questions about how our docs will be used,
whether Midwest will be competing with us and who will be negotiating hedge
agreements on behalf of Midwest (i.e., will ENA swap lawyers be involved?).
Please call me so that I can comply with Greg's request..
Thanks.  Sara

Greg:  I will have the boilerplate sent to you separately.


FERC's press release on today's refund order.  As Ray noted, a written order may not be out for several days.

Note the very last paragraph where it states that the PNW will be put on the "same footing" as California w.r.t. refund considerations.

GAC


Add Wes to these notes.

Thanks John


Should this deal be extended?

---------------------- Forwarded by Chris Germany/HOU/ECT on 01/22/2000 10:55
PM ---------------------------

Brenda H Fletcher
01/14/2000 02:59 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Deal # 124250 -Norse Pipeline

Chris,
Does this deal end 11/30/99 or should the stop date be extended?
Thanks,
Brenda


Reminder
The Enron Oral History Project Continues...

"Using History to Help Enron Become the World's Leading Company"

How can an understanding of strategic choices, regulatory change and
corporate culture help Enron achieve its vision?

Speaker:
Joseph Pratt, Cullen Professor of History and Business, University of Houston
and
 Co-Director, Enron Oral History Project

Thursday, June 7
11:30 a.m. to 12:30 p.m.
EB 5C2

To Make a Reservation, Call 3-1941 and Select Option 1

Lunch will not be provided, but you are welcome to bring your own.

Please inform us ahead of time if you need special accommodations to
participate in this meeting.  Call 3-9390.


I have compiled a list based on the RTU variance for current mo., and the
imbalance report.  Please verify, add or update the information based on your
desk's activities.

File location :  o:logistics\admin info\mtdbal03-01.xls.  Please let me know
if you have trouble accessing the file, or have any questions.

Thank you,

Mary


The eThink Team

Do you know what's included in Enron's Code of Ethics?  Do you know what
policies affect corporate conduct?  Ask Sharon Butcher, Assistant General
Counsel of Corporate Legal, all your questions about our corporate policies
today (June 5) on eSpeak at 10 a.m. Houston time.
Can't make the live event?  No worries.  Go to eSpeak (
http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your
question.  Sharon will try to answer it during her event and you can read the
transcript later.

Stop what you're doing!  Go to the Thinkbank (
http://nahou-lnapp01.corp.enron.com/eThink/Thinkbank.nsf/HomePage?OpenPage)
now!  Notice anything different?


Subject:	FW: Happy Birthday Don Jr.

	> Dear Friends and Family
	>
	> Come Join the Fun!
	>
	> Don Baughman Jr. Will be 31!
	>
	> Sunday November 18, 2001 3:00 P.M.
	>
	> Baughman Home- Iowa Colony
	>
	> Bar -B-Q by Travis
	>
	> Given by: Mom, Dad,Travis,Andrea, Troy, and Shelby
	>
	> RSVP: 281-431-2987
	>
	> See Ya'll Soon!


FYI - we will probably be asked what historical information is needed in our
shop from a Logistics perspective. I would suggest asking the new CES
employees to give us a list of what they know we would probably need to deal
with historical questions on pipeline and customer physical imbalances as
well as any other information that helps support some of the large customer
and asset transactions.

Have each of them put together a list that we can consolidate and forward to
the IT folks.

Thanks - Bob

---------------------- Forwarded by Robert Superty/HOU/ECT on 01/06/2000
07:56 AM ---------------------------

	Enron Technology

	From:  Inja Chun                           01/05/2000 01:21 PM

To: Susan Harrison/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT
cc: Brent A Price/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Robert
Superty/HOU/ECT@ECT, Tommy J Yanowski/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT,
Larrissa Sharma/HOU/ECT@ECT, Anthony Dayao/HOU/ECT@ECT, Lawrence R
Daze/HOU/ECT@ECT, Richard Burchfield/HOU/ECT@ECT, jpeople@columbiaenergy.com,
Tommy J Yanowski/HOU/ECT@ECT, Beth S Perlman/LON/ECT@ECT, Philippe A
Bibi/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Bob
Klein/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT,
Rita Wynne/HOU/ECT@ECT
Subject: Columbia Energy History Data

The following summarizes the decisions made during our  user & IT joint
meeting today regarding the handling of CES historical data.

A.  Bryce Baxter will coordinate with all user groups to identify CES reports
that need to be actually printed as hard copy or transfered to files that
will be accessed               via the Electronic Document Management system.
B.  Jeff Peoples will be working with Bryce Baxter to produce reports using
CES system via ISDN line at Enron building - this will continue to be part of
his duty until  the job is done (Jeff joined ENA as a member of Sitara group).
C.  Larry Daze will be working with Jeff Peoples and Bryce Baxter to ensure
all reports are loaded on our EDMS with proper indexing.
D.  No need for manupulating CES history data is necessary  (i.e. downloading
on spreadsheets).  Therefore, no data will be kept on the disk other than
EDMS.


Sharon,

Friday at 10 am is great.

Thanks,

Errol McLaughlin


Please send me any dates you plan to be out of the office during the Month of
August.


Session 6:  Letters of Credit, Guaranties and Equity Structures


Red Rock capital spend estimated $72 million for the 120,000/d


- 1130optsheet.xls


Thank you!

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Tuesday, March 05, 2002 9:54 AM
To:	Spencer, Becky
Subject:	RE: Form

Credit.  Tom Moran, Veronica Gonzales or Bjorn Hagelmann.

 -----Original Message-----
From: 	Spencer, Becky
Sent:	Tuesday, March 05, 2002 7:33 AM
To:	Shackleton, Sara
Subject:	Form

Sara,

I talked with Brent Hendry late yesterday.  He would like to be e-mailed a form template called "Credit Review Sheet" because he is implementing something at his new job similar to what we have.  Who would I call to get such a form?

Thanks!
Becky
x37599


Need to be there by noon to attend Ashok's staff meeting.
Fredericksburg A room

Your Continental flight leaves at 9:45.


As requested at the 11 October PRC Committee, attached is a comprehensive overview of the proposed PRC process (360  feedback, PRC and bonus compensation) for year-end 2001,  by Business Unit and Function.  We look forward to comments, amendments or concurrence.

In addition, as regards employment agreement provisions with target bonus amounts based on performance, we have included the bonus language contained in the majority of such agreements.

Should you have any questions please don't hesitate to contact me,

Gina Corteselli


Mary Cook has requested that you attend a meeting tomorrow morning (Tuesday, October 30) from 10:00 to 11:00 in EB38C2  to discuss master netting agreements.  The directive Mary has presently been given is that we will be preparing various master netting agreements and she would like to solicit as much additional help as she can.  If the directive changes before the meeting tomorrow, we will advise everyone.

Please review the below attachments prior to the meeting if your schedule allows.

Thanks!

Marie