you know its a mouth burger, boca is spanish for mouth

-----Original Message-----
From: Brian Constantine [mailto:brianc@saltgrass.com]
Sent: Thursday, January 03, 2002 12:52 PM
To: Erik Wollam; knipe3@msn.com; jparks1@houston.rr.com; Parks, Joe
Subject: RE: Ought 2

Could someone explain to me what a boca burger is?

-----Original Message-----
From: Erik Wollam [mailto:erwollam@hotmail.com]
Sent: Thursday, January 03, 2002 10:38 AM
To: knipe3@msn.com; jparks1@houston.rr.com; Brian Constantine;
joe.parks@enron.com
Subject: Re: Ought 2

I'll take care of all Henry items on my own. (Milk, hot dogs/boca
burger/juice) Just make sure there is a loaf of bread so I can make him
peanut butter sandwiches.
Pecan Pie?? yes.
Fruit?? a half dozen good apples.
Skip the baileys (i'm sure joe will agree) there may be some left.
No need for gatorade, water and beer and scotch is all i need. No juice,
we
can steal some of Henry's.

>From: "chad knipe" <knipe3@msn.com>
>To: "EriK Wollam" <erwollam@hotmail.com>, "Joe Parks"
><jparks1@houston.rr.com>, "Chet Fenner" <chet_fenner@bmc.com>, "Brian
>Constantine" <brianc@saltgrass.com>, "Joe Parks" <joe.parks@enron.com>,

>"Brian & Terry Constantine" <btconstantine@aol.com>
>Subject: Re: Ought 2
>Date: Thu, 3 Jan 2002 09:37:08 -0600
>
>I will go to store:
>
>Fri a.m./day: Starbucks, Rudy's, urinate, aforementioned can beer(not
>driving), urinate, urinate again at gate, go sleep in stand.
>Fri p.m.: Lasagna, pre-packed salad, beer,red wine, scotch--take out of

>frezer tonight(Thur) to begin thawing process.
>Sat a.m.: Egg goop, coffee, beer, toilet paper,pudding---will also get
some
>sort of sugared loaf item.
>Sat day: Tort Chips, I'll get wife to pre-make queso, bread/meated
items,
>beer,pudding
>Sat p.m.:  Steaks OK with everyone? Organ Meat? Baked potatoes
>w/fixins?beer,red wine, scotch. Suggestions.
>Sun a.m.: coffee,whatever is left, pudding
>
>Suggestions: Gatorade, juice, pseudo-Baileys,fruit, shit tickets, PECAN

>PIE??.   Erik-- any Henry related items needed??
>
>PIG: What $$ do I owe you? ....borrowed $10 at Midway, Keg $, What
else? Do
>I owe anyone else?
>
>----- Original Message -----
>From: Erik Wollam
>Sent: Thursday, January 03, 2002 8:58 AM
>To: knipe3@msn.com; jparks1@houston.rr.com; chet_fenner@bmc.com;
>brianc@saltgrass.com; joe.parks@enron.com; btconstantine@aol.com
>Subject: Re: Ought 2
>
>Food: I have a deer sausage lagsana frozen and ready to go. That takes
care
>of dinner one night. If we want steaks for second night, I'm ok with
that.
>Chad, its your turn to go to the groc. We have yet to even up for the
>season
>as far as I know B still needs to get even on Keg 1 and 2 and whatever
food
>from last trip. I've got about 70 into the thanksgiving food trip.
>
>I think there is plenty of keg beer left, but, i have some canned bud
light
>i can bring just in case. no need to buy more. I don't know the scotch
>status, but i think there is plenty left. I can bring a back up bottle
from
>the house.
>
>Chad if you are doing the shopping, plan on breakfast/lunch for 2
mornings
>(your stuff and a breakfast roll), small amount of sandwich meat and
bread,
>sides for dinners (if wanted...salad)chips and velveta ( there is
plenty of
>salsa I believe).
>
>We do not need to worry about ice, couple of bags should do. temps will
>allow hanging of game.
>
>really would prefer am depart tomarrow. e.
>
>
> >From: "chad knipe" <knipe3@msn.com>
> >To: "Joe Parks" <jparks1@houston.rr.com>, "Chet Fenner"
> ><chet_fenner@bmc.com>, "EriK Wollam" <erwollam@hotmail.com>, "Brian
> >Constantine" <brianc@saltgrass.com>, "Joe Parks"
<joe.parks@enron.com>,
> >"Brian & Terry Constantine" <btconstantine@aol.com>
> >Subject: Re: Ought 2
> >Date: Thu, 3 Jan 2002 07:49:50 -0600
> >
> >Not too worried about oven bugs--hospitals sterilize at about 270
>deg.--if
> >I remember the thermostat doesnt work and that oven runs at about 800

>deg.
> >
> >Departure: E says he is better off leaving Fri a.m.(4 hunts) w/ Sun
>return.
> >  I was thinking Fri p.m. for more relaxed Monday return(4
hunts)--I'm OK
> >either way, but I need to let John know if I'm out Fri or Mon.
> >
> >C.
> >
> >----- Original Message -----
> >From: Joe Parks
> >Sent: Thursday, January 03, 2002 7:32 AM
> >To: chad knipe; Chet Fenner; EriK Wollam; Brian Constantine; Joe
Parks;
> >Brian & Terry Constantine
> >Subject: Re: Ought 2
> >
> >dont for get about the oven issues on the heating of the egg fest.
dont
> >need any weird viruses.
> >
> >What time are we leaving?
> >Chad reply to joe.parks@enron.com yes i have to go to work. shit!
> >----- Original Message -----
> >From: chad knipe
> >To: Chet Fenner ; EriK Wollam ; Brian Constantine ; Joe Parks ; Joe
Parks
>;
> >Brian & Terry Constantine
> >Sent: Wednesday, January 02, 2002 10:47 PM
> >Subject: Re: Ought 2
> >
> >
> >I think I remember promising to eat dead, raw heart
> >meat...........a..an..and ..I'll
> >do it man !!!
> >
> >Most importantly, how did ya'll leave the keg last time--I damn sure
>don't
> >want to show up Fri. p.m. after being "IN" for four hours and have
>nuthin'
> >but a cup of dust waiting!!
> >Lets plan ahead on the Al K. Hall issue, remember I'm drinking for
two
> >now..(Pig and I).
> >
> >Food Issue:  Just because Piggy ain't cookin' doesn't mean we have to
eat
> >like alternate/persons.  I say we do it right at least on Sat
> >night.(i.e.ribeyes.......)
> >Sat. a.m.: I made a Mex. egg/cheese/& stuff casserole for x-mas
morning
> >that was pretty damn good---I can pre-make it and all we have to do
is
>heat
> >& eat.
> >
> >...other than that: Scotch, coffee, and firearms.
> >
> >My $.02
> >
> >C.
> >
> >----- Original Message -----
> >From: Fenner, Chet
> >Sent: Wednesday, January 02, 2002 3:09 PM
> >To: 'Erik Wollam'; brianc@saltgrass.com; knipe3@msn.com; Fenner,
Chet;
> >joe.parks@enron.com; jparks1@houston.rr.com; btconstantine@aol.com
> >Subject: RE: Ought 2
> >
> >Can't "pull-off" this weekend.  Libby, Libby, Libby on the label,
label,
> >label is coming in this weekend w/ the boys for a belated xmas
gathering
> >and
> >have a party planned.  Or, maybe it's just that I don't want to be
forced
> >to
> >eat more heart-meat.
> >
> >-----Original Message-----
> >From: Erik Wollam [mailto:erwollam@hotmail.com]
> >Sent: Wednesday, January 02, 2002 2:52 PM
> >To: brianc@saltgrass.com; knipe3@msn.com; chet_fenner@bmc.com;
> >joe.parks@enron.com; jparks1@houston.rr.com; btconstantine@aol.com
> >Subject: RE: Ought 2
> >
> >
> >As far as I know, Chad, Joe, Erik and Henry going. Either Friday am
to
> >sunday pm or friday pm to monday am. I have invited Chet and not
heard
>from
> >him. Chris McComb cannot go. Kieth cannot go and has not been despite
> >planning on going the last two weekends. He intends to go during the
> >extended doe and spike season.
> >No other guests invited.
> >Are you planning on going???????
> >Don't know about Jim McComb. e.
> >
> >
> > >From: "Brian Constantine" <brianc@saltgrass.com>
> > >To: "chad knipe" <knipe3@msn.com>, "Chet Fenner"
<chet_fenner@bmc.com>,
> > >"Joe Parks" <joe.parks@enron.com>, "Joe Parks"
><jparks1@houston.rr.com>,
> > >"EriK Wollam" <erwollam@hotmail.com>, "Brian & Terry Constantine"
> > ><btconstantine@aol.com>
> > >Subject: RE: Ought 2
> > >Date: Wed, 2 Jan 2002 14:43:50 -0600
> > >
> > >OK...who's gonna go "Man Off" in Schleicher County this weekend?
Roll
> > >Call please. Anyone taking any "guests" to  help "downsize the
herd" ?
> > >
> > >-----Original Message-----
> > >From: chad knipe [mailto:knipe3@msn.com]
> > >Sent: Monday, December 31, 2001 11:21 PM
> > >To: Chet Fenner; Joe Parks; Joe Parks; EriK Wollam; Brian
Constantine;
> > >Brian & Terry Constantine
> > >Subject: Ought 2
> > >
> > >
> > >Happy New Year '02 boyz!!!!
> >
> >
> >
> >
> >_________________________________________________________________
> >Join the world's largest e-mail service with MSN Hotmail.
> >http://www.hotmail.com
>
>
>
>
>_________________________________________________________________
>Send and receive Hotmail on your mobile device: http://mobile.msn.com

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Nancy

GISB has posted the amended by-laws for industry comment by mid-November.
Is there a coordinator for Enron comments?

Charles
 -----Original Message-----
From: 	Hetrick, Nancy
Sent:	Monday, October 29, 2001 3:19 PM
To:	Steffes, James D.; Yeung, Charles; Kingerski, Harry; Nicolay, Christi L.; Cantrell, Rebecca W.; Shelk, John; Novosel, Sarah
Cc:	Shapiro, Richard; Kingerski, Harry; Floris, Vinio
Subject:	GISB Status Update

FYI!
 << File: GISB status report 10-29-011.pdf >>

Nancy A. Hetrick
Enron Corp.
Director, Government Affairs
Phone:  712-366-3399
Pager:   888-912-1426


Please find attached Risk Pool Report as of 9/24/01


For a Netherlands incorporated counterparty wanting to do a weather option
transaction, on the list you sent me earlier for the approved products for
european countries, you had no options or swaptions for commodity
derivatives, but nothing on weather.  What's the scoop on weather options?


Mark,

I did not get the password. David Miller and John Lapham said, they will
create a user with administrative privilege,
which I can use for administration. In the meantime I will come to your desk
to take a look at the problem.

Thanks

Rabi

Mark Fisher
04/25/2002 01:44 PM
To: Rabi Sahoo/EWC/Enron@ENRON
cc: Patricia Hunter/EWC/Enron@ENRON, Hollis Kimbrough/EWC/Enron@ENRON

Subject: StatServer Administration

Rabi,

I have done some further exploration of the timeout problem on the
StatServer. I have tested the ASP page timeout and that does appear to exceed
5 minutes. Therefore the problem may be in the statserver configuration.
There is a setting labeled "Request Timeout interval" that might be causing
the problem. If it is set for 5 minutes that would explain the problem.

Have you been able to get the new administrator password so that you can look
at how the software is configured?

If this is not the problem could there be something limiting how long the
connection to Oracle remains open?

Anyway, a couple of more ideas.

Mark


For all new book requests (gas or power), we need to denote in the Subject line that it is for EAST Power to eliminate any confusion between the East/West power division.

Thanks!
Casey


----- Forwarded by Elizabeth Sager/HOU/ECT on 04/26/2001 09:31 AM -----

	Sheila Tweed
	04/26/2001 09:00 AM

		 To: Elizabeth Sager/HOU/ECT@ECT, Karen E Jones/HOU/ECT@ECT, Dale
Rasmussen/HOU/ECT@ECT
		 cc:
		 Subject: California Energy Update--FYI

----- Forwarded by Sheila Tweed/HOU/ECT on 04/26/2001 08:49 AM -----

	EFeo@milbank.com
	04/26/2001 12:35 AM

		 To:
		 cc:
		 Subject: California Energy Update

1.? Members of the Assembly Energy Costs and Availability Subcommittee
opened? hearings today on the Memorandum of Understanding (MOU) between
Southern California Edison Company (SCE), Edison International (EIX), and the
California Department of Water and Power (CDWR).? Testifying on behalf of SCE
were SCE Vice President Bob Foster and Ann Cohen.? Additional hearings will
be scheduled next week at which time the subcommittee will hear from
representatives of the Governor, the Attorney General, and CDWR.? Among other
things, committee members questioned the wisdom of acquiring the transmission
system, particularly on an "as is" basis, the price to be paid, alternative
structures that would not require an acquisition by the state, and the rate
of return on new investment in the utility.

2.? Also in Sacramento, the Senate Select Committee to Investigate Price
Manipulation of the Wholesale Energy Market is scheduled to continue its
investigation Thursday on market manipulation.?

3.? Governor Davis' representatives have been negotiating a transaction with
Sempra, the parent company of San Diego Gas and Electric Co., to buy the
utility's transmission assets.? The Governor's representatives expect to have
an agreement within one to two weeks.

4.? Also today, Governor Davis announced the appointment of Richard Sklar to
head a team that will speed the construction of power plants in the state.?
The "Governor's Generation Implementation Taskforce" will work to bring
electrical generation facilities on line by coordinating state permitting,
siting, finance, design, and construction efforts in a "one stop shop."

5.? At its open meeting this evening, the Federal Energy Regulatory
Commission (FERC) approved an order addressing market monitoring and
mitigation for California wholesale power markets.? Based on the FERC staff
presentation and discussion during the meeting, it appears that the market
monitoring and mitigation plan for California includes the following:

(1)? a requirement that all generators which entered into a Participating
Generator Agreement with the ISO, and all non-public utilities in California
that sell into the ISO's real-time market or use the ISO transmission grid,
must offer all available electric capacity during all hours to the ISO
real-time market, except for hydroelectric units.

(2)? all public utility load serving entities in California must submit
demand bids in real-time markets during all hours.

(3)? all sales by market participants that have been granted authority by the
FERC to sell power at market-based rates are subject to a refund condition to
prevent anti-competitive bids into real time markets.

(4)?? the ISO is required to submit weekly reports to the FERC on scheduled
outages and bid data to facilitate market monitoring.

(5)?? all sales into the ISO real-time market during a period of reserve
deficiency (i.e., during Stage 1, 2 or 3 emergencies) will be subject to
price mitigation.? The FERC order will include a formula that the ISO will be
required to apply for purposes of calculating a proxy price for all such
sales.

The order will also enhance the ISO's ability to coordinate and control
planned outages.

The mitigation plan will be in effect for a one-year period, and will be
subject to periodic review.? The FERC is also requiring the ISO and the
investor-owned utilities to submit a filing by June 1, 2001, to form a
Regional Transmission Organization (RTO).? If an RTO filing is not submitted
by that date, then the market monitoring and mitigation plan will terminate
automatically.? The FERC is also directing the parties to work with RTO West
(an RTO approved for the Pacific Northwest) to develop a plan for including
California within RTO West, with a goal of ultimately creating one RTO for
the entire western interconnection.? Finally, the FERC is instituting an
investigation under Section 206 of the Federal Power Act with respect to
wholesale power sales throughout the western interconnection.? Apparently,
potential refund liability would apply to wholesale power sale transactions
in the western interconnection entered into for a period of 24 hours or less
and made when reserve deficiencies are 7.5% or less.

FERC also approved the formation of RTO West, an eight-state RTO combining
the transmission assets of nine utilities in the Pacific Northwest.? The FERC
asked the RTO to make a submission to it by December 1 of this year on its
plans for including Canadian transmission and widening the scope of its
operations in a broader regional system. RTO West first submitted its plans
to the FERC last October. It includes nine electric utilities serving eight
western states with some 50,000 miles of transmission lines. The nine
utilities include Avista, BPA, Idaho Power, Montana Power, Nevada Power,
PacifiCorp, Portland General Electric, Puget Sound Energy and Sierra Pacific.
The states where the RTO West would operate are Washington, Oregon, Idaho,
Nevada, Utah and parts of Montana, Wyoming and California.

A more detailed analysis of the FERC orders will be provided in tomorrow's
update.

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
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If you have received this message in error, please immediately notify
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Nancy Sheed <nancy_sheed@BUSINESSWEEK.COM> on 03/22/2001 06:00:18 PM
Please respond to robert_pondiscio@BUSINESSWEEK.COM
To: BWINTERNATIONAL@LISTSERV.BUSINESSWEEK.COM
cc:
Subject: BusinessWeek's International Alert: 2 April, 2001

===========================================
BusinessWeek,s International Alert
A Preview of Major Stories and News Exclusives
in Tomorrow,s International Editions of BusinessWeek
http://www.businessweek.com/
===========================================

THIS WEEK:

- Europe and U.S. Cover Story:? Alan Greenspan*Feeling the Heat
- Asia Cover Story:? Asia,s Big Chill
- Asia Is Catching The Japanese Disease

ALSO IN THE 2ND APRIL ISSUE OF BUSINESS WEEK

- Has Germany Jumped the Rails?
- Commentary:? The European Central Bank Needs to Cut Rates Too
- The White Knight, Domingo Cavallo, Rides Again in Argentina
?

Does someone forward BusinessWeek,s International Alert to you?
Get your own free copy every week: send your name, company name, title and
email address to: robert_pondiscio@businessweek.com
?

U.S. and EUROPE COVER STORY(ALAN GREENSPAN: FEELING THE HEAT
Can he fight off a new economy recession?
By Peter Coy in New York, with Rich Miller in Washington, Linda Himelstein
and Jim Kerstetter in San Mateo, Jeff Green in Detroit, Marcia Vickers and
Pete Engardio in New York, and bureau reports

Federal Reserve Chairman Alan Greenspan has guided and presided over the
longest economic expansion in the history of the U.S.? But now, the
75-year-old Greenspan faces an agonizing challenge: an abrupt economic
slowdown that neither he nor anyone else fully understands. All of Greenspan,
s training and experience have taught him how to cope with conventional
downturns. And so far, he,s dealing with this one in the conventional manner*
by cutting short-term interest rates in quick but measured steps. That may
well prove to be the right course. But there,s a risk that this downturn is
different and that far steeper cuts in interest rates are needed to keep the
New Economy from tumbling into a long and painful recession.
In short, Alan Greenspan is feeling the heat of a market in tatters and an
economy that, by some measures, appears to be on the brink. And after riding
triumphantly astride the economic boom times, his very legacy is suddenly at
stake.
?

ASIA COVER STORY: ASIA,S BIG CHILL
Caught between Japan,s weak-yen policy and the steep U.S. downturn, the
region,s fragile economies may see their recent gains swept away
By Brian Bremner in Tokyo, with Frederick Balfour in Bangkok, Michael Shari
in Singapore, Moon Ihlwan in Seoul, and Pete Engardio in New York

The U.S. is clearly worried about Japan falling into a catastrophic slide.??
But, Washington may not have a clear view of another huge problem: How
decisions in Tokyo could undermine the precarious economic state of other
Asian nations.?? In South Korea and also in Southeast Asia, the export-led
recovery of the past two years is starting to slow because of the downturn in
the U.S. economy.?? Growth in Korea, Thailand, Malaysia, Singapore, and
Indonesia is expected to slow this year to between 3% and 4%.?? The last
thing these economies need is to compete for a dwindling export market with a
Japan now reliant on a weaker yen.?? Many of the economies of East and
Southeast Asia are trying to shake off a triple blow: The U.S. slowdown is
putting a dent in exports.? Second, Japan is yanking investment from the
region, and now there,s the yen threat.? Finally, China is soaking up a
growing slice of foreign investment, a trend that will accelerate once it
enters the World Trade Organization.

?
ASIA IS CATCHING THE JAPANESE DISEASE
Commentary by Pete Engardio

It,s a terrible malady for young economies.? The symptoms: banks that have
money but don,t lend.? Lots of exports but no profits.? A teaming workforce
with dim prospects.? Politicians who know urgent measures are needed but who
won,t act. Call it Japan disease ) and it,s starting to set in across the
once-booming emerging markets of East Asia.?? Unfortunately, East Asia has
not used the nearly four years since its financial meltdown wisely.? Lulled
by a U.S.-driven export boom and a short-lived bounce in equity markets, the
region has failed to finish the reforms that could have cleansed their
financial system of billions of dollars of nonperforming assets.??? Most of
Asia can arrest Japan disease before paralysis sets in. But politicians seem
to have lost their will to force sales of distressed assets, close failed
banks, and open their markets wider to foreign investors.
?

HAS GERMANY JUMPED THE RAILS?
Germany,s stalled reforms are slowing growth
By Jack Ewing in Frankfurt, with Christine Tierney in Frankfurt and Carol
Matlack in Paris

Since its last recession ended a decade ago, the Germany economy has
struggled to get out of first gear.? Growth averaged a mediocre 1.4% in the
l990s.?? Economists, business people and politicians thought the sorry
performance was a temporary product of West Germany,s costly and badly
managed reunification with the ex-Communist East.? But what if they are
wrong?? There have been worrying economic indicators, including nine months
of sinking business confidence, an uptick in unemployment and a collapse in
car sales.? Germany,s 82 million people account for a third of gross domestic
product among euro countries.? No regional boom is possible without them.?
Optimists think its slower growth is a temporary effect of economic malaise
in the U.S., Japan and other world markets.? Pessimists think the problems
relate to Germany,s persistent welfare state, its coddled workers, maybe even
its risk-averse culture.?? Some tough times lie ahead ) for Germany, and for
the entire Continent.
?

RATES: EUROPE NEEDS A LIFT-OFF, TOO
Commentary by David Fairlamb

The economy of the 12-nation euro zone is slowing, just like its counterparts
in the U.S. and Asia. But don,t look to the European Central Bank to follow
the U.S. Federal Reserve with interest rate cuts just yet. The monetary
conservatives who dominate its 18-member governing council see their role as
fighting inflation rather than stimulating growth. So with prices rising at
an annualized 2.6%*well above the 2% upper limit the ecb says is consistent
with price stability*the central bankers aren,t in a rush to push the price
of money down below the current 4.75 But there are plenty of reasons why it
should. A cut now would give the European economy a much needed boost. Euro
zone growth peaked at only 3.5% last summer and will likely fall to 2.8% for
all of 2001.? Tax cuts worth 0.8% of the euro zone,s gross domestic product
have bolstered domestic demand a bit, but not enough to make up for the
effects of the global slowdown. The ECB insists Europe won,t be badly hurt by
the economic downturn in the U.S. and East Asia. But businesspeople aren,t
convinced.
?

THE WHITE KNIGHT RIDES AGAIN IN ARGENTINA
But can Domingo Cavallo cure what ails the economy?
By Colin Barraclough in Buenos Aires, with bureau reports

On Mar. 20, Argentines awoke to the news that the 54-year-old Harvard
University-trained economist who rescued their country from hyperinflation
more than a decade ago was back in his old job. Cavallo is the third man to
hold the post of Economy Minister in as many weeks.? To win the support of
opposition politicians, Cavallo must take a different tack than L?pez Murphy.
Cavallo has already abandoned his predecessor,s plan to push through
draconian spending cuts. Instead, he aims to narrow Argentina,s fiscal
deficit by $3 billion this year by rekindling growth, thereby boosting tax
collection. Possible measures include cuts in some corporate tax rates to
promote the reinvestment of profits, and a reduction in banks, reserve
requirements, which would free up money for loans.
?

WHO,S KILLING ERICSSON?? ITS OWNERS
Shareholders have no say under its ownership system
By Stanley Reed in London, with Ariane Sains in Stockholm

Sweden,s Ericsson has just two main owners, the Wallenberg family and a group
of holding companies and a fund connected to Handelsbanken, a Stockholm bank,
maintaining an iron grip with a minimal amount of capital.? They do so by
holding Ericsson A shares, which have 1,000 votes more than the B shares of
which foreign shareholders have a majority.?? Now that Ericsson is struggling
in global markets, a quick turnaround is needed.? The current two-tier stock
system should be reviewed.
?

THE BANK OF JAPAN,S REAL MESSAGE: REFORM NOW
Commentary by Brian Bremner in Tokyo

On Mar. 19, Bank of Japan Governor Masaru Hayami appeared to abruptly reverse
course by announcing measures that will effectively drive the overnight call
rate back down to zero and pump up the money supply to push the consumer
price index up. Markets are now abuzz with speculation that Japan will
deliberately ramp up inflation past 3%, and that Hayami is a convert to the
cause of fast reflation. But Hayami has not given up on the other part of his
agenda: to press for real restructuring inside the banks and corporations. So
Hayami is signaling that he will ease up on his hard-money ways in exchange
for some real action by the banks: &While we are doing our part, we hope the
government and the financial system will do what,s necessary on their side,8
says Deputy BOJ Governor Yutaka Yamaguchi in an interview with BusinessWeek.
?

RUMBLE OVER TOKYO
As Airbus aggressively pitches its superjumbo, Boeing moves to protect its
turf
By Stanley Holmes in Seattle, with? Chester Dawson in Tokyo and Carol Matlack
in Paris

For nearly 50 years, Boeing and Japanese airlines JAL, All Nippon, and Japan
Air System have had a fruitful business relationship, thanks in part to the
aircraft maker,s deference to Japanese customs. Boeing,s planes now account
for 84% of Japan,s commercial fleets, the world,s third-largest national air
market after the U.S. and China. From 1970 to 1998, jal alone spent $14.4
billion on those planes. But that lead is now under fierce attack from Boeing,
s archrival, Airbus Industrie. Japan has become the key battleground as the
European aircraft consortium seeks to launch its superjumbo A380 jet, which
can hold 555 to 800 passengers. The Airbus offensive will force Boeing, which
recently announced it will move its headquarters out of Seattle as part of a
major corporate overhaul, to fight like never before.
?

IS A NEW WAR BREWING IN THE BALKANS?
International Outlook by Christopher Condon in Budapest, with Ren,e Cordes in
Brussels, Heidi Dawley in London, and Stan Crock in Washington

It,s another Balkans mess, and it could prove to be a dangerous test for
President George W. Bush and the 37,000 NATO troops stationed in Kosovo.
After six days of fighting between insurgents and Macedonian forces near the
city of Tetovo from Mar. 14-19, NATO officials announced plans to bolster
patrols on the Kosovo border with Macedonia.? Both European and U.S.
diplomats hope Macedonian forces will subdue the rebels. But if the fighting
keeps up, pressure will grow on NATO to play a more active role. That could
involve a controversial decision to send NATO troops to combat rebels in
Macedonia. Washington, however, wants to avoid an escalation.? Still,
strangely, NATO troops could find themselves increasingly under fire from the
very people they were sent to protect*ethnic Albanians. With no quick
solution to the latest Balkan conflict in sight, that,s not a pleasant place
to be.
?

SWISSAIR: PINNING ITS HOPES ON +SUPER MARIO,
The new CEO will have tough time fighting the flag carrier
By Christine Tierney in Frankfurt and Carol Matlack in Paris

It has been a shock to investors to witness Swissair,s mounting disarray.??
SAirGroup,s CEO Philippe Bruggisser, who had charted the expansion strategy
that plunged the company into the red last year, has been jettisoned.? Then
Moritz Suter, the airline division chief bailed out, and then 9 of the
company,s 10 supervisory board members quit, including Chairman and interim
CEO Eric Honegger.??? Enter Super Mario.? The new CEO, Mario Corti, is the
chief financial officer of Swiss food giant Nestle and the only board member
left at the airline.? It,s not that SAirGroup,s expansion strategy was
totally flawed.? SAirGroup went wrong when it invested heavily in second-tier
partners, many of which are in trouble.??? Corti is expected to unveil a new
strategy in a special shareholders, meting in September.
?

RUSSIA: A LITTLE-KNOWN PLAYER,S GRIP ON NATURAL GAS
Gas supplier Itera,s clout extends across the old Soviet empire
By Catherine Belton in Moscow, with Dan Carney in Washington

Western investors ) especially energy giants ) are likely to be hearing more
about a mysterious Russian company called Itera.? It is the fourth-largest
holder of gas reserves on the planet with a virtual monopoly on gas trading
in two key former Soviet republics, Georgia and Ukraine, that lie at the
gateway for transporting the region,s energy resources to the West.?? Itera
President Igor V. Makarov says he holds the key to the Caspian for any
foreign energy company wanting to get a foothold in the region ) considered
one of the hottest oil plays anywhere.? &Today, we are the only company that
can turn joint ventures with U.S. enterprises into real businesses,8 he says
) and that,s quite a claim.?? But even as Itera seeks recognition and funding
from the West, law enforcement officials in Europe and the U.S. are
scrutinizing Itera's activities for possible money-laundering.?? Itera,s rise
from barter trader to global-gas giant is raising questions inside Russia,
too.
?

A SOCIALIST WHO,S BETTING ON THE NEW ECONOMY
President Lagos talks about how to keep Chile on track
Q&A with Mexico Bureau Chief Geri Smith and Chile correspondent Louise Egan

Ricardo Lagos, the first Socialist to rule Chile since the 1973 military
overthrow of Salvador Allende, recently completed his first year in office,
amid growing concerns that the country,s much-vaunted economic &miracle8 is
losing its luster. Lagos, 63, who holds a doctorate in economics from Duke
University, says that Chile, which led Latin American nations in adopting
free-market reforms two decades ago, must now bet big on attracting high-tech
industries. He also is pushing hard to seal a free-trade agreement with the
U.S. On Mar. 19, Lagos sat down with Mexico Bureau Chief Geri Smith and Chile
correspondent Louise Egan in his office in La Moneda, the presidential
palace, to discuss his plans for what remains of his six-year term.
?

INDIA: DON,T LET SCANDAL DERAIL REFORM
Commentary by Manjeet Kripalani

The Indian government stands on the brink of collapse. The event that did the
damage: a sting operation by an online magazine, which caught leading
politicians and military officials on camera accepting bribes in connection
with what they thought were military contracts. Defense Minister George
Fernandes has since quit, along with the head of the Bharatiya Janata Party.
Raucous opposition legislators closed Parliament for six days, insisting that
the government step down.? The administration should be embarrassed. But it
would be a huge mistake for the opposition to initiate a new era of political
turmoil. The principal casualty would be much needed reform.? Yet India
desperately needs to get its house in order. Last year, it took in only $2.6
billion in foreign direct investment.? Most important are the proposed
reforms of the labor laws, which for the first time would permit companies
with fewer than 1,000 employees to hire and fire without government
permission. Freed from these restrictions, business owners could invest in
promising new ventures, instead of wallowing in sunset industries. So instead
of seeking to stall change, the opposition would do well to embrace it.

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?

INTELLECTUAL PROPERTY: NEW ANSWERS TO NEW PROBLEMS
Economic Viewpoint by Jeffrey E. Garten

For more than a century, our system for protecting intellectual property
rights has fostered the creativity of artists and inventors. But now it is
being challenged by two major global forces: the Internet, which can act as a
gigantic international copying machine, and a global health crisis in which
patented miracle drugs are too expensive for developing countries. It is time
to reexamine how the intellectual property rights regime works.?? There are
many issues to be addressed. Is there a way to better codify the space for
private use and experimentation on the Internet? Should governments use their
powers of eminent domain to buy up critical pharmaceutical patents and better
distribute the underlying products? There may be much better approaches than
these, but relying only on relentless enforcement of existing laws isn,t one
of them.
?

PATIENCE INVESTORS, THE FED IS NOT DONE
But economic data, not the stock market, will dictate policy
Business Outlook by James C. Cooper and Kathleen Madigan

At nine yards long, the Federal Reserve,s oval table is too big for poker.
But on Mar. 20, policymakers entered into a high-stakes game. The pot: an
economic rebound in the second half.? At its second policy meeting of 2001,
the Fed lowered its benchmark federal funds rate by a half-point, to 5%,
eschewing Wall Street,s clamor for a supersize cut of three-quarters of a
point.? In effect, the Fed made it clear that it will not follow the stock
market,s timetable for policy decisions. The Fed,s action implicitly says
that economic conditions did not justify a larger, more radical move.?
Investors were so focused on the idea that &size matters8 that they
completely ignored the meeting,s most obvious positive: The Fed left open the
door for more cuts*perhaps even before its next meeting on May 15.? The key
remark was: &In these circumstances, when economic conditions could be
evolving rapidly, the Federal Reserve will need to monitor developments
closely.8 That language should sound familiar. It is similar to what the Fed
said after its Dec. 19 meeting, prior to the surprise intermeeting cut on
Jan. 3. It,s Fedspeak for: &We may not wait until May 15.8
?

A DEFINITE +SELL,?? GIMME 100 SHARES
Brokerage calls keep missing the mark ) and then some
By Mara DerHovanesian in New York

Who says you can,t make money by following a Wall Street analyst,s
recommendations? Just do exactly the opposite of what they say, and you,ll
make out like a bandit.? And we,re not talking about the stocks these
analysts are plugging, either. Granted, the Street has a tough time telling
investors to sell stocks anyway, but when they do, you,d think it would be a
no-brainer to pick a loser in this bear market. Instead, these calls are
defying gravity.? BusinessWeek takes a look at how Credit Suisse First Boston
has fared with its sell recommendations so far this year. First, only 11 U.S.
stocks of 1,328 stocks Credit Suisse covers are on the sell list, according
to Zacks Investment Research. The irony is that many of those stocks have
outperformed the company,s buy recommendations. Credit Suisse isn,t the only
one with egg on its face. UBS Warburg has four current &reduce8 ratings on
the 1,015 U.S. stocks it covers. Three of those*KMart, DaimlerChrysler, and
New Plan Excel Realty Trust*are up 64.2%, 9.3% and 17.9% this year through
Mar. 20.
?

DON,T BET THE BANK ON EARLY-HOURS TRADING
Conventional wisdom aside, futures aren,t crystal balls
By Pallavi Gogoi in Chicago, with Susan Zegel in New York

By jumping in early, are fund managers helping to shape market trading that
day? Not really. The small group of big investors around the world who trade
in stock index futures prior to the U.S. markets opening aren,t even setting
the stage for whether the equity markets will rise or fall in the first 15
minutes of trading. Contrary to the conventional wisdom, repeated daily on
CNBC, Bloomberg Radio, and local TV and radio stations*that the futures
predict the day,s market performances*an examination of the data by
BusinessWeek shows hardly any correlation. That may come as a big surprise to
market players who,ve been taking it as an article of faith that the futures
offer a solid guide to the day,s trading. To some longtime traders, the lack
of predictive power in the futures is not so surprising. They say the number
of investors playing the markets in the big index contracts is small.
Nonetheless, some investors swear by them.
?

NO CARTWHEELS FOR HANDSPRING
Rich rivals race to erase the company,s handheld edge
By Cliff Edwards in Mountain View, Calif.

The handheld market has become one of the fastest-growing corners of techdom.
Researcher IDC expects sales of the gizmos to soar 52% annually until 2004,
to $10.7 billion from $2 billion in 2000, far outstripping PC growth. And
Handspring is becoming a player to beat. In the past 18 months, the company
has sold more than 1 million of its Visor computers, giving it 28% of the
handheld market in February, up from zilch a year earlier. Now, Handspring
has to deliver a convincing second act*something it,s attempting with its new
Visor Edge, introduced Mar. 12. Problem is, the company may be losing its
innovation lead. Handhelds are outgrowing their roots as electronic
organizers and mutating into Net appliances and wireless communication tools.
That could tip the advantage to players using Microsoft,s PocketPC operating
system, a slim variant of Windows that makes the Palm operating system
Handspring uses look long in the tooth.
?

A GRAB FOR CONTROL OF FORMULA ONE
Upfront by Christine Tierney

Mercedes and Ferrari, the carmakers with the leading auto racing teams, are
threatening to quit Formula One and form an alternative racing group if they
can,t buy in. The brouhaha comes as control of the Formula One holding
company is about to change hands, from F1 supremo Bernie Ecclestone to German
media magnate Leo Kirch.? But the Euro racers want a stake, too. The group,
also including BMW, Jaguar, and Renault, had been talking to Ecclestone about
getting into the biz themselves before Kirch came on the scene. They worry
Kirch will try to boost his KirchPayTV network by restricting Formula One
races, which are now on commercial channels, to the pay channel. The
carmakers have invested billions in Formula One, and they insist the event be
professionally run and freely broadcast to give them maximum public exposure.
Mercedes chief J_rgen Hubbert expects negotiations with Kirch to begin soon:
&We,ve sent a clear message.8? If Kirch balks...well, there,s always the 1978
precedent in the U.S., when team owners broke from the U.S. Auto Club to form
Championship Auto Racing Teams.
?

HANDBAGS, COGNAC ) AND WATER
By Gerry Khermouch

What,s the latest trend item for your Louis Vuitton bag? Glac,au Vitamin
Water or Fruit Water. The chic-set drinks, which sell for about $1.50, are
made by tiny Energy Brands in Whitestone, N.Y. And they were the? last of the
up-and-coming &healthy8 beverages available to be snapped up after others
(Gatorade, SoBe, and Snapple) were bought by beverage giants such as
PepsiCo.? But now France,s lvmh Mo%t Hennessy Louis Vuitton is buying into
Glac,au*its first drinks foray beyond champagne and cognac. Both sides are
keen for cross-promotions linking the low-cal Waters to Givenchy fashions,
tag Heuer watches, and the group,s other luxury brands.? Neither side would
give details, but sources say LVMH put up $5 million for a minority stake and
a board seat. The cash will fund Glac,au,s expansion to the rest of the U.S.
?

U.S. NEWS IN BUSINESSWEEK,S INTERNATIONAL EDITIONS

WILL REFIS HELP REFLOAT THE ECONOMY?
Equity into Cash(So far, homeowners are spending, not paying down debt
By Stephanie Anderson-Forest in Dallas with Ann Therese Palmer in Chicago,
Douglas Robson in Silicon Valley, Laura Cohn in Washington, D.C. and bureau
reports

Thanks to competition among mortgage lenders, falling transactions costs, and
a push from the Federal Reserve to trim interest rates, mortgage rates are
way down. Rates on 30-year fixed mortgages have dropped from a five-year high
of 8.64% in May to 6.82%*near the lowest level in two years. And that,s
spurring a refinancing boom. Though there are risks in the boom*overindebted
homeowners could be taking on too much debt*for now, many economists argue
that it is offering a much needed boost to consumer spending. And that could
give a hand to the ailing economy as well. &This is the best way to get money
into people,s purses and pocketbooks immediately,8 says Mark M. Zandi, chief
economist at market forecaster Economy.com Inc.
?

SURPRISE*THE TECH INDUSTRY IS A CYCLICAL
Meltdown Redux: 1985 was bad, but this time more industries are affected
By Peter Burrows, with Jim Kerstetter and Linda Himelstein in Silicon Valley

It,s a frightening picture, all right. Hordes of brash high-tech startups,
all intent on grabbing a 20% share of vast emerging markets, getting
massacred, their dreams crashing back to earth. Even the most respected tech
companies are being forced to lay off staffers and slash spending as earnings
fall miles short of analysts, projections. The press is stuffed with scary
&end of history8 articles about the death of the tech revolution. Venture
capitalists, who just months before were throwing around money like so much
birdseed, are nowhere to be found. Sound familiar? All this happened back in
1985, in what was then the biggest tech meltdown ever. Yes, as the world has
again learned painfully, tech can be a very cyclical business.? 1985 offers a
reminder that stretches of tech prosperity have always been sandwiched
between deep, painful valleys. Thanks to the cash pumped into everything from
fiber-optic parts to huge computers in recent years, this could be the
deepest valley yet.
?

WHILE WASHINGTON FIDDLES(
Why the Beltway hasn,t gone into panic mode
Commentary by Lee Walczak, with Rich Miller, Howard Gleckman, Richard S.
Dunham, and Lorraine Woellert in Washington D.C., and Ann Therese Palmer in
Chicago

What,s Washington doing while the world,s financial fabric frays and risks of
a painful U.S. downturn grow? Debating. Mulling. Maneuvering. Even as an
increasingly urgent chorus of voices outside the Beltway insists that the
Bush Administration and Congress need to come up with a fiscal stimulus
package pronto, few in Washington are acting with anything remotely
suggestive of impending danger. Instead, Bush continues to push for a tax cut
that most agree won,t benefit the economy for at least a year, and Congress
is content to play political &gotcha.8? Bizarre as it may seem to many with
business ties, the gulf between the real economy and Washington,s insular
political culture has seldom been greater. Up to now, many of the city,s pols
seemed confident that a benign spirit*Saint Alan of C Street*would ward off
the evil of a recession. But over at the Federal Reserve, Greenspan,s halo
has slipped.?? Bush,s advisers are having intense discussions over what one
aide describes as a &rifle-shot8 rate cut that would provide quicker
stimulus. Also being explored: a one-time tax rebate that could put money
into consumers, hands fast.
?

A &FIRST FRIEND8 WITH CLOUT
Commerce Secretary Don Evans, longtime ties to Bush give him unusual access
By Paul Magnusson in Washington
?
Commerce Secretary Donald L. Evans has two jobs in Washington. The official
one comes with a government limo, a spacious paneled office, a tropical fish
tank, and a $3 billion budget. The second is a round-the-clock role as First
Friend.? That easy intimacy makes Evans, 54, potentially one of the most
powerful Commerce chiefs in many years. As Bush,s campaign chairman, he
raised a record-breaking $100 million for his pal, a job that put the Texan
on a first-name basis with many corporate chieftains. But in his first major
interview, the Commerce Secretary insists that he,s leaving the world of
political fund-raising behind. His new concerns: helping to sell the big Bush
tax cut, battling unfair trade practices abroad aimed at industries such as
steel and aerospace, and boosting the government,s long-range research
efforts.
?

END OF THE CEO GRAVY TRAIN?
Surprise! Exec pay seems to be slipping*though some underperformers are doing
remarkably well
By Louis Lavelle in New York

For many of the nation,s chief executive officers, 2000 will likely be a year
to forget. After nearly five years of double-digit growth in CEO
compensation, early indications are that their pay actually fell last year.
Of the 130 corporate proxies so far available for the biggest U.S. companies,
the compensation of the 15 best-paid CEOs shows the slowing economy has taken
a toll on earnings. When salary, bonus, and options exercised last year were
taken into account, compensation for those CEOs fell nearly 5% from 1999. The
reason: The market,s nosedive made it a bad time for many corporate kingpins
to exercise their options, often the largest part of remuneration.? According
to a proxy analysis by Standard & Poor,s Institutional Market Services, a
division of The McGraw-Hill Companies, total compensation for the 15 highest
earners averaged $88.7 million, a $4.4 million drop.
?

THE BEST SHAREHOLDERS CAN GET?
The AG-Prudential deal isn,t sweet, but there,s no white knight in sight
By Emily Thornton, with Pamela L. Moore in New York and Heidi Dawley in
London

Ever since American General Corp. Chairman and CEO Robert M. Devlin first
announced a stock-swap with British insurer Prudential PLC on Mar. 12, then
valued at $26.5 billion, Wall Street has thought that the Houston insurer,s
shareholders were getting the short end of the stick. Prudential,s stock
price has tumbled 16% since, and American General,s about 4%, thus crushing
the premium American General shareholders will receive to 5% from 22%. And
that could put the kibosh on the merger.? Clearly, this is not what
shareholders hoped for. Still, this deal may be the best shareholders can
get. When the Prudential deal was first announced, Wall Street was abuzz with
rumors that heavyweights such as Sanford I. Weill at Citigroup or Maurice R.
&Hank8 Greenberg at American International Group? Inc. might swoop in with a
counterbid. Unlikely, say investment bankers, because American General has
had informal talks with both in the past two years. Devlin insists
discussions were never serious enough to reach his board.
?

SOUTHWEST: AFTER KELLEHER, MORE BLUE SKIES
Southwest,s model shone in an embattled industry*and it looks brighter than
ever
Commentary by Wendy Zellner

In three decades of building low-fare legend Southwest Airlines Co., CEO
Herbert D. Kelleher has made nary a misstep. Until Mar. 19, the one chink in
his armor appeared to be the question of how Southwest would replace him.
Finally, the answer: Two Southwest veterans steeped in the company,s
traditions will man the controls.? On June 19, James F. Parker, 54, general
counsel, and Colleen C. Barrett, 56, executive vice-president for customers,
will become CEO and President, respectively. And as Parker and Barrett might
tell you, they are inheriting a devilishly simple playbook: Keep costs down.
Focus on customers. Keep employees happy. And keep it simple. While Southwest
has tweaked its formula over the years*adding more long-distance flights, for
instance*it,s still mainly a point-to-point, short-hop airline that uses one
aircraft type to simplify training and maintenance.
?

BUYING A NEW PC?? NOT SO FAST
Upgrading to Microsoft,s coming XP system will be such a challenge that it
makes more sense to wait until new computers come with it
Technology & You by Stephen H. Wildstrom

Microsoft Corp.,s Windows XP, which is just entering its final stage of
large-scale field testing, is the most important consumer software product to
appear since the Windows 95 operating system. The prospect of waiting for XP
poses a difficult choice for anyone in the market for a new computer. Nearly
all consumer PCs sold today are outfitted with Windows ME, the last gasp of
the Windows 95 line. It seems reasonable to buy a new computer with Windows
ME and move to XP when it,s available. But I don,t recommend it. Why? The
upgrade will be challenging. Even moving from Windows 95 to 98 was often
difficult, and going from ME to XP will be a much bigger transition.
Microsoft and battered computer makers will hate me for saying this, but I
suggest that you make your old computer last nine more months or so until XP
is ready.
?

CAN GM,S JOHN DEVINE KEEP HIS PROMISE?
The new CFO pledges bigger earnings, but much depends on building sales in a
slowing economy
By David Welch in Detroit

Only someone as confident as John Devine, the new vice-chairman and chief
financial officer of General Motors Corp., would promise that America,s
largest auto maker will earn $2.3 billion this year, about a third more than
some analysts predict. And only someone as respected as Devine would be taken
seriously.
Chief Executive G. Richard Wagoner Jr., a 23-year GM veteran, broke with
tradition by hiring Devine*rarely has GM gone outside to fill a senior job.
Devine could even become chief operating officer in the next few years,
according to GM insiders. As one board member puts it: &You don,t bring in a
guy like John Devine and expect it to be business as usual.8 Good thing for
GM. The company that once was regarded as the country,s most innovative
carmaker has been in decline for three decades. Its U.S. market share has
fallen from 33% in 1995 to 28% last year.? A lot has to go right at GM*and in
the economy*for Devine,s predictions to come true.
?

THE SEC IS TOO HUSH-HUSH
Commentary by Christopher H. Schmitt

When the Securities & Exchange Commission issued rules in January to shore up
the independence of outside directors who oversee mutual funds, some SEC
watchers were caught by surprise. Why? One reason: The commissioners didn,t
meet in public. Under former Chairman Arthur Levitt Jr., the SEC went out of
its way to shake up the status quo and avoid donning the mantle of apologist
for the industry it oversees.? And yet the SEC hasn,t changed its own
practices much. There,s more that needs fixing than the SEC,s nonmeeting
meetings. In a confusing process closed to public view, the SEC handles
thousands of exemption and guidance requests each year. It,s supposed to make
them*and its replies*public, though it doesn,t always do so promptly. Of
course, there is a need for some confidentiality*and exemptions and guidance,
too. But that doesn,t mean the SEC can,t be more forthcoming about its
business.
?

McLATTE AND CROISSANT?
Upfront by Michael Arndt

Just when it? seemed McDonald,s couldn,t possibly cram another restaurant
into the U.S., the burger giant has come up with a new way to expand: coffee
bars. BusinessWeek has learned McDonald,s will open its first,? McCaf,, in
Chicago,s Loop in April. It will sell pastries, perhaps prewrapped
sandwiches, and premium coffee.? Sound familiar, Starbucks fans? But whether
aficionados will give up their grande skim latte for a McCappuccino is a good
question. McDonald,s won,t say how many McCaf,s it plans, but based on their
success overseas, the rollout could be swift and wide. There are 300 McCaf,s
in 17 countries, from Australia and Japan to Brazil and Greece. Each sits in
or near a McDonald,s, with its own staff and equipment. In the U.S., look for
comfy couches, too.
?

The following stories have been posted on BusinessWeek Online
http://www.businessweek.com/
?
EURO-TECH: Will Americans Answer This Call?
By Stephen Baker
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010321_069.htm
Phone service in the U.S. is good. So good that many Americans have little
incentive to embrace wireless
with Europe's fervor

REPORTER'S NOTEBOOK: What's French for Dimpled Chad?
By Carol Matlack
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010321_277.htm
Parisians may be right to think Palm Beach can't happen here. Still, you have
to wonder why they ended up counting votes on cell phones

ONLINE ASIA: The Curse of Dr. M
By Bruce Einhorn
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010319_935.htm
Malaysia's Mahathir has been so bad for his nation that his name has become a
verb, meaning "to wreck a country's fortunes"

NEWS ANALYSIS: Here Come Talk 'n' Toss Cell Phones
By Olga Kharif
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010322_621.htm
Sensing a big potential market, two companies are hoping to add a new kind of
disposable to your shopping list

STREET WISE: Eight Options for Amazon
By Amey Stone
http://www.businessweek.com/technology/content/mar2001/tc20010322_039.htm
From partnering with Barnes & Noble to bringing in Jack Welch, here are some
ideas that could help the e-tailer become profitable

NEWSMAKER Q&A: Why the Fed Didn't Go Further
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010320_645.htm
S&P's Michael Englund explains the probable reasoning behind the half-point
rate cut and says April could see more easing

NEWS ANALYSIS: A Downturn in CEO Pay, Too?
By Louis Lavelle
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010320_205.htm
Early results for 2000 show the slumping market is slowing the growth of top
bosses' take-home, which might even decline

NEWS ANALYSIS: AOL Time Warner: Who's Laughing Now?
By Amy Borrus in Washington
http://www.businessweek.com/bwdaily/dnflash/mar2001/nf20010319_866.htm
The newly merged company is -- all the way to the bank -- while its critics
and rivals eat its dust, and a lot of crow
?

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See Riordon note below.
----- Forwarded by Jeff Dasovich/NA/Enron on 05/11/2001 09:52 AM -----

	Steven J Kean
	05/11/2001 08:35 AM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Sandra McCubbin/NA/Enron@Enron, Paul Kaufman/Enron@EnronXGate, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Susan J
Mara/NA/Enron@ENRON
		 Subject:

Ken Lay spoke with several California CEOs this morning and urged them to get
personally involved in pushing for a comprehensive set of reforms.  Three
expressed willingness to help.

Scott McNealy (Sun):  contact person - Piper Cole (piper.cole@sun.com);
scott.mcnealy@engeng.sun.com.  Mcnealy wants, by close of business today, a
"cheat sheet" of the talking points to use with politicians (the "8 or 10
elements of the solution") with the expected comeback he may hear from the
political leaders and our response to that comeback.  He says he hasn't spent
time working on issues in Sacremento so we may also want to include a list of
suggested contacts.
Kevin Sharer (Amgen): contact person - Sarah Jensen, VP of Engineering and
Operations (805.447.6785); ksharer@amgen.com.  Sharer wants the same
information as McNealy and he and McNealy both indicated their willingness to
call a meeting of other California CEOs.  Sharer will also be having
breakfast with Hertzberg one week from today.
Robert Day (Trust Co of the West):  said that he is very close to the mayor
of Los Angeles.  He urged Ken to call the mayor (mentioning Day).  Ken would
like some talking points for that call.

Jeff - please put these items together.


Absolutely.

Kay

"Wilson Montjoy" <wmontjoy@brunini.com> on 05/24/2001 04:41:29 PM
To: <Kay.Mann@enron.com>
cc:

Subject: Re: MDEA

I'll be happy to do so, but can I please, please beg off until nest week?
Several large matters have conspired to hit at the same time and I'm
currently snowed.

>>> <Kay.Mann@enron.com> 05/24/01 04:28PM >>>
Hi Wilson,

We discussed asking the counterparties for opinion letters.  Could you
outline what you think we should ask for, or alternatively, just draft it?

Thanks,

Kay


Kay,

I am glad you liked it.
Merry Christmas.

Vince

	From:  Kay Chapman                           12/19/2000 10:11 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Holiday Gift

Thank you so much for your thoughtfulness....This basket is absolutely
beautiful.....Thanks again for your thoughtfulness and for thinking of
me......

You have a wonderful Holiday......

Kay


Daren-

Do we have the buy/Sell deal for El Paso ( formerly Teco)  for January 01
Prod?
The old deal numbers were 235670 for the sale and 137870 for the purchase.

---------------------- Forwarded by Katherine Herrera/Corp/Enron on
02/23/2001 03:59 PM ---------------------------

	From:  Megan Parker                           02/23/2001 03:57 PM

To: Katherine Herrera/Corp/Enron@ENRON
cc: Michael Olsen/NA/Enron@Enron

Subject: Meter 986884 for 1/2001

Mike: this is Katherine Herrera's.
---------------------- Forwarded by Megan Parker/Corp/Enron on 02/23/2001
03:55 PM ---------------------------

Michael Olsen
02/23/2001 03:52 PM
To: Megan Parker/Corp/Enron@ENRON
cc:

Subject: Meter 986884 for 1/2001

Megan,

I was unable to extend the deal for Teco # 137870 and #235670 becaus e it has
been suspended.  Teco is no longer the counterparty.  Has the name changed?

---------------------- Forwarded by Michael Olsen/NA/Enron on 02/23/2001
03:48 PM ---------------------------

	From:  Sherlyn Schumack @ ECT                           02/23/2001 03:26 PM

To: Michael Olsen/NA/Enron@Enron
cc: Edward Terry/HOU/ECT@ECT

Subject: Meter 986884 for 1/2001

Mike,
Have you heard anything about extending the buy/sell ticket for TECO yet?
Today is the last day we can make changes in the system.


Since I left, I don't know where this project stands. However, thought you
might want to see this.

Hope all is well.

Regards,

Stephanie
---------------------- Forwarded by Stephanie Miller/Corp/Enron on 03/15/2000
10:54 AM ---------------------------

trobison@prosRM.com on 03/15/2000 10:38:31 AM
To: smiller@enron.com
cc:

Subject: Williams Licenses prosRM Capacity Management System from PROS
Revenue Management

Tina Robison
Corporate Communications
PROS Revenue Management
713-335-5397 - fax
713-335-5813 - phone
trobison@prosRM.com

 - WILLIAMS.PROS.PDF


Imagine, if you can, a world in which information is disseminated as rapidly
as it is received.  A world in which news reaches you before you even have a
chance to wonder about it, much less speculate with your colleagues at the
water cooler.

A world in which the barriers to timely communication of important facts are
erased like last month's unfiled emails.

Sounds too good to be true in "Corporate America", doesn't it?  Well, hold on
to your hats; there's a new online publication in town.

The dot is coming.


to be sent to

Jeff Rawls
Director, Fuels Management
Calpine Fuels Texas Corporation
700 Louisiana Street, Suite 2700
Houston, Texas 77002

cc: Ricky A. Archer - Calpine


Added to the general agenda:

1. CPUC draft order suspending direct access
2. SB 39X
3. Role of other Western Governors on state ownership of transmission?
4. Time for daily call?


&The 'new-era' doctrine - that 'good' stocks (or 'blue chips')  where sound
investments regardless of how high the price paid for them -- was at  bottom
only a means for rationalizing under the title of 'investment' the  well-nigh
universal capitulation to the gambling fever( Why did the investing  public
turn its attention from dividends, from asset values, and from earnings,  to
transfer it almost exclusively to the earnings trend? The answer was, first,
that the records of the past were proving an undependable guide to
investment;  and secondly, that the rewards offered by the future had become
irresistibly  alluring ... The notion that the desirability of a common stock
was entirely  independent of its prices seems incredibly absurd. Yet the
new-era theory led  directly to this thesis. If a stock was selling at 35
times the maximum recorded  earnings, instead of 10 times its average
earnings, which was the pre-boom  standard, the conclusion to be drawn was
not that the stock was too high but  merely that the standard of value had
been raised. Instead of judging the market  price by established standards of
value, the new-era based its standards of  value on the market price.8

- Benjamin Graham & David Dodd, Security Analysis,  1934.


***************************************************************
Did you know Julius Caesar moved January to the head
of the year? Click here for your guide to word histories.
http://www.m-w.com/book/literead/wordhist.htm
***************************************************************

The Word of the Day for January 5 is:

facile   \FASS-ul\   (adjective)
     1 a : easily accomplished, handled, or attained
*b : superficial
     2 : readily manifested and often insincere
     3 : ready, fluent

Example sentence:
     The book is well-organized, but the conclusions and
interpretations are often unduly facile.

Did you know?
     Would you have guessed that "facile" and "difficult" are
related? They are! "Facile" comes to us through Middle French,
from the Latin word "facilis," meaning "easy," and ultimately
from "facere," meaning "to make or do." "Difficult" traces to
"facilis" as well, but its history also involves the negative
prefix "dis-," meaning "not." "Facile" can mean "easy" or
"easily done," as befits its Latin roots, but it now often adds
the connotation of undue haste, shallowness, or oversimplifi-
cation, as in "facile answers to complex questions."

*Indicates the sense illustrated in the example sentence.

----------------
Brought to you by Merriam-Webster, Inc.
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----------------

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Write to: word@Merriam-Webster.com

(c) 2002 by Merriam-Webster, Incorporated


I think we ran into this problem before where the California schedulers, for
whatever reason, didn't pull the .8 Riverside deal into their sheet, and
therefore I didn't see it or add it to the EES sheet. Let me just check with
Phil on this to make sure he didn't do it for a reason; then I can amend the
sheet and re-send it.

And on the Wed./Thurs. generation volumes - I can only assume that Phil spoke
with Riverside at some point about the change to .55, but again I need to
speak with him to verify this. He should be in the office soon, and I'll let
you know as soon as I find out.

Thanks,
Kate

Daniel Kang@EES
04/18/2001 06:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Daily EES Positions through 4/19

Hey Kate,

For 4/15 and 4/16, our schedules that we sent you show a Riverside
Generatioin component of 0.8 every hour (SP15).  This is not reflected in
your current April update.  The EnPower columns for these days should be
increased by 0.8 for every hour.  Right?

Also, The generation component that I sent you for Wednesday and Thursday
(which I sent Monday morning) had a generation component of 0.8.  In reality,
it was actually 0.55.  I didn't have the generation schedule from Riverside
and had to assume a value so I assumed it would be 0.8 because that's where
it had been for a while.  In your current file, you have the correct value of
0.55.  How did you know this?  Did Riverside call you to tell you they were
at 0.55 instead of 0.8?  Let me know.  Thanks.

Dan


We have been working on improving our current EnronOnline Intranet site.
Take a look if you have a chance!

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 03/01/2001 11:07
AM ---------------------------
From: Keith Clark@ENRON on 02/22/2001 05:57 PM
To: Sheri Thomas/HOU/ECT@ECT
cc:
Subject:

When you get a chance take a look at http://eolinfo.dev.corp.enron.comand see
what we did . . . :-)


For your reading pleasure...

AOL/Time Warner Merger:  12/13/00
http://news.cnet.com/news/0-1005-200-4134177.html?tag=st.ne.ron.lthd

Margo Reyna
Regulatory Analyst
Enron Corp., Government Affairs
Phone:  713-853-9191


[IMAGE]
Untitled Document


Jeff,

At the conclusion of our meeting yesterday you re-iterated your interest in
contributing to our efforts regarding the HTC Energy Initiative and in
helping develop the forum for the symposium tentatively scheduled for late
October.  In response, I wanted to let you know Paul, Lloyd, Joe Avila
(McKinsey) and myself will be meeting with Matt Simmons tomorrow, Thur 9/6.
I would like to schedule a follow-up meeting with you to discuss Matt's
input and gain further insight from you regarding the event.  Please let me
know a time that is convenient for you.  I am open to breakfast and dinner
times as well if that works better for you.

Regards,
Robert Cossick
Houston Technology Center
Dynegy Loaned Executive

HTC       (713) 658-1750
              rcossick@houstontech.org

Dynegy  (713) 767-8045
             robert.cossick@dynegy.com

Cell        (281) 744-4219


This is just to remind everyone that bunko is at my house on Monday April
9th.  Please let me know as soon as you can if you are not going to be able
to make it.  Thanks and I look forward to seeing all of you there.


Please review the order below entered by the United States Bankruptcy Court of the Southern District of New York regarding document preservation.  You are instructed to comply with this order, effective immediately.

The order requires that we retain all documents (in paper or electronic form) in existence on February 15.  Documents created after February 15 must be retained if, as the order states, the document contains information relevant to:  (1) any claim or defense that may be asserted in the bankruptcy by Enron or a party-in-interest; (2) the financial condition or otherwise in connection with the reorganization of Enron under the Bankruptcy Code; or (3) any governmental investigation or litigation now underway or commenced prior to the termination of this order concerning (a) Enron or any Enron-related affiliates or individuals, (b) present or former directors or officers of Enron, or (c) any affilitiates, subsidiaries, partnerships or joint ventures or other entities which, to Enron's knowledge, Enron or any Enron-related entity participated.

Please regard the terms of the Order as applying to all Enron companies, not just companies that are a part of the bankruptcy proceeding.  If you are uncertain whether you should retain any particular document, please call Bob Williams at extension 5-2402.  You should err on the side of retaining the document.

This order and email instruction supersede the previous order of the Bankruptcy Court and email to employees dated January 14, 2002.

Thank you.

The text of the order follows:

UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
------------------------------x
In re:                        :
                              : Chapter 11
ENRON CORP., ET AL.           :
                              : Case Nos. 01-16034 (AJG)
                              :
              Debtors.        : Jointly Administered
                              :
------------------------------x

STIPULATION AND CONSENT ORDER PURSUANT TO 11
U.S.C. ?? 105 AND 541 BY AND BETWEEN ENRON CORP.
AND ITS AFFILIATED DEBTORS-IN-POSSESSION AND THE
OFFICIAL COMMITTEE OF UNSECURED CREDITORS
REGARDING DOCUMENT PRESERVATION AND RETENTION

WHEREAS, Enron Corp. and its affiliated debtors-in-possession in these jointly administered Chapter 11
cases (collectively, "Enron") recognize that they have an
obligation to preserve all of the assets of their estates;

WHEREAS, Enron's documents, as that term is
defined in Rule 7026-1 of the Local Bankruptcy Rules for
the Southern District of New York, Civil Rule 26.3(c)(2) of
the Local Rules of the United States District Courts for
the Southern and Eastern Districts of New York and Rule
34(a) of the Federal Rules of Civil Procedure (see
Attachment A hereto) in Enron's possession, custody or
control (hereinafter "Documents"), constitute assets of
Enron's estates; and

WHEREAS, Enron recognizes that it must preserve
all of its Documents during the pendency of these Chapter
11 cases;

WHEREAS, Enron has represented that it has by
various e-mails, including one dated as recently as January
14, 2002, Enron has restated its Document retention
policies to all of its officers, directors and employees
and explained the need to preserve Enron's Documents in
accordance with then-existing policies;

WHEREAS, Enron has represented that it has placed
under lock-and-key all paper shredding machines located at
its headquarters in Houston, Texas;
WHEREAS, the Court, on consent of Enron and the
Creditors' Committee, issued an order dated January 25,
2002 relating to document preservation (see Attachment B
hereto).

IT IS HEREBY STIPULATED AND AGREED THAT:
1. Enron, and its officers and directors, shall
make reasonable efforts to ensure that none of Enron's
Documents shall be destroyed or wrongfully removed from
Enron's premises in a manner inconsistent with the terms of
the Order.

2. To the extent that Enron's Documents are in
the possession of its agents, accountants or any other
party which maintains documents for, on behalf of or for
the benefit of Enron, Enron shall in writing instruct such
persons to preserve Enron's Documents within ten (10)
business days of the date of this Order, such notice to
include a copy of this Order.

3. All Documents that were in the possession,
custody or control of Enron prior to the date of this
Order, shall be preserved and maintained by Enron and each
of its directors, officers and employees.

4. All Documents that come into the possession,
custody or control of Enron from and after the date of this
Order that contain information (i) relevant to any claim or
defense thereto that may be asserted in these chapter 11
cases by Enron or a party-in-interest, (ii) relevant to the
financial condition or otherwise in connection with the
reorganization of Enron under chapter 11 of the Bankruptcy
Code, or (iii) relevant to any governmental investigation
or litigation concerning Enron or any Enron-related
entities or individuals, present or former directors or
officers of Enron, and any affiliates, subsidiaries,
partnerships or joint ventures or other entities in which,
to Enron's knowledge, Enron or any Enron-related entity
participated (collectively, "Affiliated Entities") now
underway or commenced prior to the termination of this
Order, shall be preserved and maintained by Enron and each
of its directors, officers and employees, provided,
however, that this Order does not bar the ordinary course
disposal of Documents that come into Enron's possession or
are created by Enron after the date of this Order having no
reasonable or apparent connection to the items listed in
subparts (i), (ii) or (iii) of this paragraph.

5. Nothing contained in this Order shall: (a)
prevent Enron from using any Documents in the ordinary
course of business for any purpose necessary to the
reorganization effort; or (b) entitle any entity to
discovery other than pursuant to applicable law.

6. To the extent the Federal Bureau of
Investigation ("FBI") discloses to Enron its findings or
conclusions in connection with its investigation of alleged
document destruction on Enron's premises, and to the extent
the FBI permits Enron to disclose such findings or
conclusions, Enron shall report to the Court such findings
or conclusions concerning (a) whether Documents of Enron or
Affiliated Entities have been removed or destroyed since
the commencement of these Chapter 11 cases, and (b) in the
event the FBI investigation discloses that such Documents
were removed or destroyed, (i) the nature of such
documents, (ii) the person(s) responsible for such
destruction or removal, and (iii) measures being taken to
retrieve or restore such documents.

7. Within ten (10) business days after entry of
this Order, Enron's two most senior legal officers, two
most senior accounting officers, and its three other most
senior officers shall submit affidavits stating that such
persons have reviewed this Order, understand its terms, and
will make reasonable efforts to comply with the provisions
of this Order.

8. The terms of this Order shall supercede and
control any prior policy or announcement by Enron
concerning document preservation or destruction to the
extent such policy or announcement is less restrictive than
the terms of this Order.

9. Enron shall immediately post a copy of this
Order on Enron's intranet in such a way as to ensure that
this Order can be reviewed by all of Enron's officers,
directors and employees.

10. This Order shall be effective immediately
and shall remain in effect until modified by further Order
of this Court.

/s/ Luc Despins
The Official Committee of
Unsecured Creditors

By its counsel:

Luc A. Despins
Milbank, Tweed, Hadley & McCloy LLP
1 Chase Manhattan Plaza
New York, New York 10005

/s/ Martin Bienenstock
Enron Corp. and its affiliated
debtors-in-possession

By its counsel:

Martin A. Bienenstock
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, New York 10153

IT IS SO ORDERED on this 15th day
of February, 2002

s/Arthur J. Gonzalez
Arthur J. Gonzalez
United States Bankruptcy Judge


All,

We will be scheduling interviews for the Trading Track, Wednesday, May 30th from 1.00 pm to approximately 4.00 pm with a debrief afterwards.    We will be interviewing approximately 12 - 16 candidates (both internal and external).

Please reserve this time in your calander.    If you are unable to particpate please let me know otherwise you will be contacted with regards to location/confirmed times/resumes/etc shortly.

Any questions please do not hesitate to contact me.

Kind regards,

Karen.
x54667


Attached for you review and comments is a revised policy narrative.  We have incoprorated the recommendations from the N-Form group and the ideas provided by Neil and his team.  Please note the new title: Talent Deployment as well as other changes. As always please feel free to shoot your comments back. Regards, Rj.


Want a NEW high speed computer?

866 MHz Pentium III Processor FAST enough?

Want High Speed internet?
Broadband,
Cable Modem,
DSL,
Satellite.

Then Get READY...
All Eligible U.S. Employees get innovative at HOME beginning March, 2001.

Go to http://clickathome.enron.com to LEARN more about the offerings.

Non-U.S. Eligible Employees get innovative at home beginning late 2001 and
2002.


Remi,

No problem. My assistant Shirley Crenshaw will call you Friday to set up a
meeting.

Vince

Remi Collonges@ENRON_DEVELOPMENT
02/24/2000 09:10 AM
To: Vince J Kaminski@ECT, Grant Masson@ECT
cc:
Subject: curves for South America

Vince and Grant,

I have been made responsible for all gas and power curves in South America
(plus books development, reporting, .......).  I have somewhat started but,
since I am new on the job, I'd love to receive advice, guidance (and at some
stage help) from you.  Would you be available for a meeting next week,
preferably Thursday or Friday?   I'm planning to be in Houston these days.

Remi Collonges
(55) 11 5503 1200


TUFCO has agreed to remove the exception to consequentials for breach of
quality provisions.  They are preparing executables and will forward to HPL
for execution.  Thanks for your help.

---------------------- Forwarded by Gerald Nemec/HOU/ECT on 06/16/99 10:45 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Gerald Nemec                           06/15/99 03:14 PM

To: Steve -HPL- Schneider/HOU/ECT@ECT
cc: Ted C Bland/HOU/ECT@ECT, Robert D Morgan/HOU/ECT@ECT, Barbara Gray, Janet
H Wallis/HOU/ECT@ECT
Subject: TUFCO Trawick I/C

Steve,  We are currently negotiating an interconnect agreement for an upgrade
of an existing interconnect off the Trawick System into TUFCO.  The
interconnect is solely a delivery to TUFCO.  We are down to one point of
difference in the agreement.

Typically HPL disclaims any liability for consequential damages to the other
party.  TUFCO is asking for an exception for any violation of gas quality
specifications.  This would mean that if HPL delivered off spec gas to TUFCO
which required cleanup of their pipeline system or caused damage to a
customer of TUFCO's HPL would be liable under this Agreement.

From a legal standpoint, we can make this exception, but I wanted to make
sure everyone understood and agreed with the acceptance of this potential
liability.  Assuming we are properly monitoring all our receipts there
shouldn't be an issue.

Please let me know what you think about this situation.  I can forward a copy
of the interconnect agreement if you do not currently have one.


Either the location, or the number of locations has changed on revision number 7. The hedge associated with this deal needs to be re-evaluated.


It may be too late now, but I would like to meet with them.  Mark

	Peter Keohane
	03/12/2001 06:00 PM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: Visit By Donahue Ernst and Young

As I mentioned DEY representatives will be in Houston March 19/20 and wanted
to meet with you and Jim Derrick.  Jim is not available, but they were
wondering if they could meet with you.  Given Jim's position on these types
of firms, Jim's unavailability, and your schedule do you have any interest in
meeting with them?  Peter.


Hi, Edmund!

Can you assist me in obtaining copies of some confirmations?  I just need a copy of one representative confirmation for the following:

Conoco (UK) Limited and Enron Capital & Trade Resources Limited
Conoco International Inc. and ECTRIC
Conoco Limited and ECTRIC
Societe Europeenne de Carburants N.C. and ECTRIC.

You can either fax them to me at (713) 646-3490 or e-mail.

THANKS!!!!!!!!

Marie


Dear class,

Here is the exam schedule.  Regardless of your regular class day, you can
take the exam either Wednesday 12/15 (start holidays early) or Thursday
12/16 (get that extra 24 hours of studying).  The exam is scheduled from
6:05 to 9:30, but should take far less time than that.

The locations are:
 Wed. C125 for computer users and C135 for handwritten.
 Thurs. C210 for computer users and C220 for handwritten.

Computer users should email me a copy of the exam and (just to be sure)
hand me a diskette as well.

See you soon,
- David

David I. Levine                 Associate professor
Haas School of Business    ph: 510/642-1697
University of California    fax: 510/643-1420
Berkeley CA  94720-1900                            email:
levine@haas.berkeley.edu
http://web.haas.berkeley.edu/www/levine/


ISO Market Participants:
SC Settlements Contacts:

As you are aware, Pacific Gas & Electric Company ("PG&E") and the California
Power Exchange ("PX") have filed petitions for relief in the United States
Bankruptcy Court that are the subject of ongoing proceedings.  As we have
advised in prior Market Notices, each of these parties is substantially in
default of obligations -- pre-petition and/or post-petition -- incurred on
its behalf in one of more of the ISO markets.  The amounts owing have
resulted in a substantial reduction in monies paid out by the ISO to market
participants.  Accordingly, Market Participants likely have claims or other
legal rights they may wish to assert in either or both of the bankruptcy
proceedings.
Attached is a Market Notice that discusses the ISO's and Market
Participants' responsibilities to file such claims with the  bankruptcy
court.  Market Participants should consult their own legal COUNSEL as to
their respective rights and proofs of claims in the bankruptcy cases of the
PX and PG&E.
 <<PGE Bank -- FINAL Mkt Notice 0807.doc>>


Dear Larry Campbell:

Don't let this rocky market bring you down!

The market's recent drop has scared many investors, but it has also
brought down the valuations of many of the market's strongest
companies and now is a great time to reevaluate your portfolio. Enter
The Motley Fool Rule Maker Top 25 report*. The Motley Fool's Rule
Maker Portfolio has become well-known for its investments in cash-rich
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services to food and beverage to technology.

Also, each of these stocks is a candidate to achieve the Rule Maker
Portfolio's goal of doubling in price over the next five years. No one
can say for sure how these companies will perform in the next year, but
they represent great starting points as you plan your portfolio.

For a limited time, STREAMER USERS can purchase this report for $25 --
that's 36% off the cover price. Visit The Motley Fool to learn more
about this exclusive offer.

Sincerely,

Ed Nicoll
Chairman and CEO
Datek Online Holdings Corp.
www.datek.com

Legal and Disclosure Notices

Privacy Policy

Customer Agreement

*3rd Party Research Disclosure Notice

Streamerc is a registered trademark of Datek Online Holdings Corp.

-Not all securities, products, or services described are available in
all countries, and nothing on this site constitutes an offer or
solicitation of these securities, products, or services in any
jurisdiction where their offer or sale is not qualified or exempt
from registration.

High volume of trading and volatility may result in executions at
prices significantly away from the price quoted or displayed at the
time of order entry.

System response and access times may vary due to market conditions,
system performance, and other factors.

This email is just one of the ways that we keep you and other
Streamerc real-time quote users up-to-date about product and service
innovations and beta testing at Datek Online. These communications may
also spotlight special incentives that we hope will motivate you to
consider trying something new at Datek. Please let us know if you'd
prefer that these emails not continue.
http://datek1.m0.net/m/u/dtk/d.asp?e=lcampbel%40enron.com

, 2001 Datek Online Brokerage Services LLC, Member NASD/SIPC

CC-DA18 / #61772


How much to you have?!  SRS

Kevin Hannon @ ENRON COMMUNICATIONS on 04/20/2001 08:03:14 AM
To: Jeff Skilling/Corp/Enron@ENRON
cc:

Subject: Re:

OK Sherri how much do you want?

Kevin

	Jeff Skilling@ENRON
	Sent by: Sherri Sera@ENRON
	04/19/01 05:18 PM

		 To: Cliff Baxter/HOU/ECT@ECT, Rick Buy/HOU/ECT, Ben Glisan/HOU/ECT@ECT,
Steven J Kean/NA/Enron@Enron, Jeffrey Sherrick/Corp/Enron, Philippe A
Bibi/HOU/ECT, Michael Brown/NA/Enron, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James A Hughes/ENRON_DEVELOPMENT,
Louise Kitchen/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT, Greg
Piper/Corp/Enron, John Sherriff/LON/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Janet
R Dietrich/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Matthew
Scrimshaw/LON/ECT@ECT, David Cox/Enron Communications@Enron Communications,
Kevin Hannon/Enron Communications@Enron Communications, Rod
Hayslett/FGT/Enron, Stan Horton/Houston/Eott@Eott, Danny
McCarty/ET&S/Enron@Enron
		 cc:
		 Subject:

I know how incredibly busy you all are, so I'm sure that making a pledge to
Jeff for the MS150 has simply slipped your mind.  Well the ride is this
weekend, time is running out and we need you!

Enron's goal is to raise $700,000, and Jeff's personal goal is to raise
$50,000.  As of today, we are a little better than half way there.  Won't you
consider helping him reach his goal?

Thanks for your consideration.  I look forward to hearing from you tomorrow...

Sherri :-)


Hi Liz -

Your Father wrote:

"Elizabeth -

The Republican Convention is July 31 - August 3.  Although there are no
guarantees I expect I can get you tickets and reservations.

Love,

Dad"

Liz, I have sent an e-mail to our Washington office to ask for assistance in
obtaining hotel reservations and credentials.  We don't yet have reservations
for Ken as everything is locked up by the Republicans, but I have been
assured they will be forthcoming.  We asked for the same hotel as your Dad
will have, so hopefully that will work.

Rosie

Elizabeth Lay <lizard_ar@yahoo.com> on 04/07/2000 10:25:47 AM
To: Kenneth Lay <kenneth_lay@enron.com>
cc:
Subject: Go Astros!

Dad,

Just wanted to e-mail and wish you all the best on the
Openning day, you'll do GREAT! I wish I were there,
I've been getting updates from Kay and Kathy,
particularly about the free doghnuts and Duck Soup!

On another note, when is the Republican Convention? I
would really like to attend if possible.

Best of luck!!!!!
I love you,
Liz

p.s. let me know what the feed back is in regards to
campaign help!

__________________________________________________
Do You Yahoo!?
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No Meeting This Week

This is a reminder !!!!!  There will NOT be a Friday Meeting November 10,
2000.

    Date:  November 10, 2000  (cancelled)
      Friday

    Time:   2:30 pm - 4:30 pm

    Location:  30C1

    Topic:   ENA Management Committee

If you have any questions or conflicts, please feel free to call me (3-0643).

Thanks,

Kay 3-0643


There is no documentation to evidence this, it is an operation of law.  Being
a legal incorporated entity means you are embodied as a legal entity after
filing or creating certain organizational documents under state or federal
laws (you could be a corporation, partnership,  governmental entity or other
type of entity).   A division is not a separate legal incorporated entity.
It is one and the same entity as the incorporated entity.   It is a "dba"
(which means "doing business as") or "assumed name" for an incorporated
entity. Any division of an incorporated entity can, and usually should, trade
under the same master as the incorporated entity (unless the company gives us
some reason elsewise).  Frequently, the dealmakers at the company may not
understand that a division and incorporated entity are one and the same, or
there may be a corporate policy that prohibits their trading from being
aggregated.That is why we always want the name of the incorporated entity as
part of the counterparty name when we transact with a division.  Examples
might be "Tana Jones Inc., acting through its TLJ Company Division" or "Tana
Jones Inc. d/b/a TLJ  Company" or "TLJ Company, a division of Tana Jones
Inc."  Frequently, the dealmakers at the company may not understand that a
division and incorporated entity are one and the same (and we may have to
talk to them), or there may be a corporate policy that prohibits their
trading from being aggregated with the corporate entity.  Legal and/or Credit
should direct you when a division should trade under the legal entity's
master.

P.S. Susan Flynn is on an extended leave of absence.

	Stacey Richardson
	07/20/2000 05:36 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Anthony Campos/HOU/ECT@ECT, Bridgette Anderson/Corp/Enron@Enron, Karen
Lambert/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT,
Frank L Davis/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT
		 Subject: Clarification of Cargill issue

Tana,

I'm hoping you can clarify some information I received second-hand on
Cargill, Incorporated, and Cargill Energy, a division of Cargill,
Incorporated.   It is my understanding that Cargill Energy, a division of
Cargill, Incorporated, is allowed to trade under the ISDA (contract
96043502) between Cargill, Incorporated and ENA.   Based on the information
in the Legal Financial Trading Agreement database, there is no information to
indicate that this affiliate is also covered by the Cargill, Incorporated
master .  Also, the email from Susan Flynn  does not include any information
on additional parties covered under this contract.  Finally, Part 4(b) of the
schedule to the agreement specifies that for Section 10(c) of the contract ,
neither party is a multibranch party.  This is all the information that
Anthony Campos has received to date on this contract.  Based on this
information, and from previous requests from Legal for Global Contracts to
refer any interpretations to Legal, the Global Contracts group could not make
any assumptions regarding other counterparties not specifically listed on the
contract or schedules.

I wanted to verify if what I had heard about Cargill Energy, a division of
Cargill, Incorporated, was correct and to obtain the pertinent documentation
if so.  Also, does Legal have any specific "policies" regarding affiliate
relationships?  Is there any documentation we should have been aware of?

I just want to make sure that there are no EOL issues in the future and that
we have not misinterpreted any information.  Please let me know how Legal
handles such an issue and what actions Global Contracts can expect.

As usual, thanks for you help and patience.

Stacey x30569


Dear John

We Really need those Affidavits to be filled and turned in to fraud dept as
soon as possible in ofder to bring your account up to zero balance.

We would really appreciate it.

Yours, ameer.


I may be able to help with the California crisis also. ?

The Joseph L Richards Limited Company provides managementand consulting
services exclusively to the power industry. ?We assist EPC Contractors,
Equity Owners, Insurers and OEM clients in managing the complex issues
related with Co-Generation,Independent Power, Merchant and Utility types of
power projects. ??

Our U.S.A. and International experience includes pulverized coal; gas and
oil
fired utility grade plants, combined cycle, co-generation,diesel, and wood
fuel, waste to energy, dismantling and relocation of powerplants.

We utilize our power industry experience and resources inthe areas of:

Intervention and Mitigation of &troubled8 power projects that suffer from:
o ?????Project delays
o ?????Bad designs
o ?????OEM technology related failures
o ?????Overloaded project management
o ?????Stalled startup
o ?????Inappropriate project schedule

Power Project Insurance Loss Recovery
o ?????Claims preparation and evaluation
o ?????Delayed Opening, DSU, AOLP and BII

Dispute Resolution Support for Equity Owner, EPCContractor and Vendor
related
arbitration, claims, litigation and mediationactions.
o ?????Plant Operations evaluation and profiling
o ?????Schedules and documentation forensic research
o ?????As-Occurred schedule preparation
o ?????Project Delay assignment
o ?????Identification of concurrent project delays

Power Project Evaluation and Due Diligence
o ?????Audit services of power project designs andspecifications to identify
over- ???????design, excessive equipment and impropermaterials to assure a
cost-effective design product and lower the installedcosts of the new
project. ?
o ?????Project schedule evaluation
o ?????Monitoring of EPC Contractor,s performance
o ?????Identification and certification of mechanical andsubstantial
completion events ?
o ?????Close out of Final Acceptance issues
? ??????Special Assignments


Please review the attached language which was drafted to conform to the two
(2) EOL BOFC par forward products.

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