Kevin, given the track record of mis-behaviour, I don't fault you with the premise of guilt before understanding.  But I would like to assure you that despite the high valuations externally, which I probably agree are fantasy, The Facility Services Group has a clear vision/market; it has a quality management team; it will be under my thumb and it is conservatively valued in the books.  It is much more that a Blockbuster or other like structure.  If you would like to discuss in detail do not hesitate to give me a call and I will take you through it - both overall strategy and tactics.  Even though it has been a confluence of events which has caused our problems, the fundamental root of most issues is an inactive management team which hasn't managed the detail as well as we would like.  New Power in my view would not have been as big a loser if we had kept it private and managed it closely as a key part of the business.  Instead we took it public and let it run amok.  I think you can see parallels across the company.  Initially well intentioned and thought out strategies fall apart when not managed appropriately.

Regards
Delainey


I think that the goal of Govt Affairs should be to (1) ensure that customers
never on utility service post Jan 17 should not pay, and (2) try and find a
compromise with the other parties to allow customers who leave by some date
certain will only pay for the unrecovered cost  on a $/mwh basis.

Basically I am arguing that Enron should require DWR to calculate its unpaid
balance on some date certain and determine the appropriate surcharge.   I
know that this is a very long shot.  We should make this recommendation as a
help to our business teams even if we are going to lose.

Do  we need a conference call with Lobbyists to work through this on Thursday?

Jim

 ---------------------- Forwarded by James D Steffes/NA/Enron on 07/03/2001
02:30 PM ---------------------------

Scott Stoness@EES
07/03/2001 09:33 AM
To: Harry Kingerski/NA/Enron@Enron
cc: Don Black, James D Steffes/NA/Enron@Enron, James W Lewis/HOU/EES@EES

Subject: Draft Bond Legislation Language

As discussed, we have two possible approaches:
1) Home Run Strategy: The following change: The commission shall, within 30
days from the date of the application, issue a bond financing order
establishing a DWR Bond Charge that shall be applicable to all electric power
delivered in California by electric corporations subject to the jurisdiction
of the commission, with the exception of electric power delivered by
suppliers other than the utility, who contracted for such delivery prior to
the effective date of this legislation.
We use San Diego large customers as our example of customers who should be
exempt from a surcharge because they have been off bundled rates for the
duration of the turmoil.
Risk is that our customers will not be fully on until about August 15.  Thus
if the wording gets changed to "who are taking delivery as of the effective
date of this legislation" we have failed.
Positive is that it removes the CPUC (anti enron) discretion.

2) 1st Base Strategy: The following change: c) The commission shall conduct
such proceedings as it deems necessary to inform the public of the revenue
requirements  and to establish rates to enable the department to recover the
revenue requirement.  Such rates will be designed  i) such that the bond
revenue requirements will be recovered, and ii) to reflect the amount of DWR
bond costs that the customer or customer class caused.
Risk is that the CPUC will interpret these words unfavorably to us.  ie.  If
we touch the system once we pay the whole surcharge.

Scott

---------------------- Forwarded by Scott Stoness/HOU/EES on 07/03/2001 09:14
AM ---------------------------

Scott Stoness
07/03/2001 08:40 AM
To: Harry Kingerski/NA/Enron@Enron
cc: Don Black, James D Steffes/NA/Enron@Enron, James W Lewis/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES
Subject: Draft Bond Legislation Language

Harry.  I read through the proposed legislation.  In summary it:
Imposes a DWR Bond surcharge applicable to all electric power delivered in
California .... subject to the jurisdiction of the commission.
The commission would approve the adjustments to the DWR Bond Charge as may be
necessary to ensure timely recovery....
The commission would conduct hearings to establish rates to allow the DWR to
recover their revenue requirements.
The DWR Bond Charge shall take precedence over all other costs and
disbursements to be padi from the fund and shall be paid from revenue derived
from rate levels in effect on July 31, 2001.

Although we could live with this legislation the issues I see are:
IBM would not escape a surcharge even though they may not have caused any DWR
costs.
SImilarly, large San Diego customers, who have not caused any DWR costs,
would be subject to a surcharge.
I am having a hard time understanding what they intended to achieve with the
clause "The DWR Bond Charge shall take precedence over all other costs and
disbursements to be paid from the fund and shall be paid from revenue derived
from rate levels in effect on July 31, 2001."
Does the 2nd half of this sentence freeze the Jul 31, 2001 rates until the
bond is paid off; or
Is it just an attempt to define that rates should not go up to pay for the
bonds; or [this is the most likely meaning in my mind]
Is it just defining that the act comes into effect on July 31, 2001

If it is possible, we should advocate:
Regarding, SDG&E, customers who did not contribute to DWR costs:
Imposes a DWR Bond surcharge applicable to all electric power delivered in
California .... subject to the jurisdiction of the commission.
The commission would conduct hearings to establish rates to allow the DWR to
recover their revenue requirements.  Such rates will be designed  i) such
that the bond revenue requirements will be recovered, and ii) to reflect the
amount of DWR costs that the customer or customer class caused.

And we should get a legal interpretation of  "The DWR Bond Charge shall take
precedence over all other costs and disbursements to be paid from the fund
and shall be paid from revenue derived from rate levels in effect on July 31,
2001."  To make sure that we are not going to get surprised.

Scott


Attached are the presentations from the Government Affairs-The Americas dept.
meeting which was held on Friday, December 8.  For those of you who missed
the special presentation for Rick, it is attached for your viewing pleasure
(see luggage).

gngr
713-853-7751


I don't think that the doorstep reviews are the right venue for this.  I
believe that to address what seems to be David's concerns would be better
handled with an appropriate person deemed to lead a special project in a
directed timeframe with a well defined scope.  We purposefully utilize
differing personal on the doorstep reviews and it would seem that concerns
over proper valuation should be addresses in a timeframe that is not
dependent on the schedule of doorstep reviews around the world.

From:  David Port @ ENRON
        01/12/2001 12:49 PM

To: Shona Wilson/NA/Enron@Enron
cc: Cassandra Schultz/NA/Enron@Enron, Bjorn Hagelmann/HOU/ECT@ECT, Rudi
Zipter/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT, Oliver Gaylard/LON/ECT@ECT,
Lloyd Fleming/LON/ECT@ECT, Ted Murphy/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT
Subject: Re: Doorstep and Risk Reviews

Whatever we need to do, we should do.

Shona Wilson
01/12/2001 12:26 PM
To: David Port/Market Risk/Corp/Enron@ENRON
cc: Cassandra Schultz/NA/Enron@Enron, Bjorn Hagelmann/HOU/ECT@ECT, Rudi
Zipter/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT, Oliver Gaylard/LON/ECT@ECT,
Lloyd Fleming/LON/ECT@ECT, Ted Murphy/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT

Subject: Re: Doorstep and Risk Reviews

Doorstep is a joint MRM RAC and Energy Ops review process.  If we want to
include a full review of all the mtm methodologies we need to start building
this into the doorsteps by ensuring that the RAC person attending the
doorstep has the relevant experience to perform this review and that the time
scheduled to do the review is adequate.

To: Cassandra Schultz/NA/Enron@Enron, Shona Wilson/NA/Enron@Enron, Bjorn
Hagelmann/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT,
Oliver Gaylard/LON/ECT@ECT, Lloyd Fleming/LON/ECT@ECT
cc: Ted Murphy/LON/ECT@ECT

Subject: Doorstep and Risk Reviews

I am getting a strong sense that there are many holes, patches and
workarounds in the upstream risk systems, relating to their ability to
reflect accurately the valuation, and the risk attached to the products that
get traded.

I would like to use the doorstep process and the risk review process to
establish precisely what those holes are, if we don't already know. Here is
an example:

 "All of our systems value options at-the-money, regardless of moneyness."
True or False ?

Can you please include this concept in those exercises. The aim is, at least
by the end of Q1 we can put our hands on a summary of everything.

Thanks
DP


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

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

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

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

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

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

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

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

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

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

Stevan

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

Deregulation Didn't Foster Competition

By NICHOLAS RICCARDI and STEVE BERRY, Times Staff Writers

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

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

Retailers Found Little Opportunity
Be they multinational giants or kitchen-table entrepreneurs, retailers are
dismayed by their experiences with deregulation.
Enron spent $5 million trying to sell electricity in 1997 and the spring of
1998. But, unable to offer enticing discounts, the firm picked up only
30,000 customers.
In a recent meeting with reporters and editors at The Times, Enron Chief
Executive Kenneth Lay suggested that the framers of deregulation kept market
forces pinned down in the retail sector. As a result, there was little money
to be made and little incentive to stick around.
"The more customers you signed up," Lay said, "the more [money] you lost."
Last week, Enron returned a number of its remaining electricity contracts to
PG&E. "In the end," Lay said, "we couldn't change the rules and we pulled
out."
On the other end of the spectrum, Paul Oshideri is now a one-man operation
since he laid off his seven employees during his unprofitable two years
trying to entice customers to Cucamonga Energy.
"You don't have that many options," said Oshideri, who is still holding on
to his 250 customers and vows not to quit. "What can you do? You can't do
anything right now."
Only when it came to businesses and big institutions such as universities
were retailers able to make a dent in the market. The small price reductions
they offered translated into huge savings for those large users of
electricity. The retailers also offered a variety of other services,
including aid to help businesses become more energy efficient.
Although fewer than 2% of all residential customers have switched to new
energy companies, 13% of industrial users have done so, according to the
Public Utilities Commission.
"If they'd structured this differently they would have had households able
to make big savings just like industrials," said Cal State Fullerton
economist Robert Michaels.
There is some dispute among deregulation critics over whether legislators
designed the law to protect the utilities from an onslaught of competition,
or it just turned out that way.
Jesse Knight, a former member of the Public Utilities Commission who
dissented on the panel's deregulation plan, said the law is biased against
retail competition.
"But I don't think it was the legislation's intent to protect the monopoly,"
Knight said.
There is general agreement, however, that not enough attention was paid to
the mechanics of the retail market.
Much of the deregulation legislation deals with generation, transmission and
wholesale prices of electricity. The only provisions on the retail end
simply allow consumers to shop for deals.
Lay, the Enron executive, recalled that the utilities fought hard to
maintain their customer base. The irony is that, with wholesale prices
skyrocketing over the last six months, buying electricity for all those
customers has driven the utilities to the brink of insolvency.
"With 20-20 hindsight, I expect they wish they'd agreed to more choice at
the customer level," Lay said. "Then maybe they wouldn't be in the
circumstances they're in."
   News </news> Politics </news/politics> Entertainment
<http://www.calendarlive.com> music <http://www.calendarlive.com/music>,
movies <http://www.calendarlive.com/movies/>, art
<http://www.calendarlive.com/art/>, TV <http://www.calendarlive.com/tvent/>,
restaurants
<http://www.calendarlive.com/top/1,1419,L-LATimes-Restaurants-X!Front,00.htm
l>    <<...OLE_Obj...>>    Business </business> Travel </travel>
Classifieds </class> jobs </class/employ>, homes </class/realestate>, cars
<http://www.cars.com/carsapp/latimes/?srv=parser&act=display&tf=/index-defau
lt.tmpl>, rentals </class/rentals>    <<...OLE_Obj...>>    Sports
<http://sports.latimes.com> Commentary </news/comment/> Shopping
<http://www.latimes.com/class/2shop/menus/>     <<...OLE_Obj...>>
 <<...OLE_Obj...>>
Copyright 2001 Los Angeles Times

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

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


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Rick:  unfortunately, the stand alone reliability legislation DOES have a
"reasonable chance of passing."  To block this possibility, we are pursuing
two strategies simultaneously.  #1 the Stakeholder letter with the message
that the bill does little for reliability and provides no real political
inoculation so should not be passed; and #2 the lack of consensus on the
technical language contained within the bill makes passage problematic.  If
the bill were to be able to move, the bill must be considered "consensus"
otherwise it  will pose political problems for the Calendar.  Today, there is
still lack of bill consensus.  We should consider a strategy of asking for
reasonable legislative provisions beyond the current language which would
improve the bill (and continue to keep true consensus from occurring.)  Of
course, we cannot be obvious on this approach.

Part of the reason I was pushing to get one or our CEO's to play golf with
Congressman Tauzin on the 22nd is he is the key Member pushing the House
Leadership to pass the stand-alone bill now to "politically inoculate
Republicans."  As the likely new House Commerce Committee Chairman; he
carries sway.  Another approach would be for us to call Entergy to give
Congressman Tauzin the same message.

And our #3 strategy.....pray that the temperature cools down so the issue
dissipates.....and/or they run out of time......

Richard Shapiro@EES
08/10/2000 09:16 AM
To: Cynthia Sandherr/Corp/Enron@ENRON
cc:

Subject: RE: Draft Letter to Congress on Wynn Reliability Legislation

Why are we communicating technical problems ?( do we think it has a
reasonable chance of passing?) Reliability-only  legislation is bad policy. I

Cynthia Sandherr@ENRON
08/09/2000 07:09 PM

To: Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Joe
Hillings/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Tom
Briggs/NA/Enron@Enron, dwatkiss@bracepatt.com, cingebretson@bracepatt.com,
ed@buckham.com, bpaxon@akingump.com, Allison Navin/Corp/Enron@ENRON
cc:
Subject: RE: Draft Letter to Congress on Wynn Reliability Legislation

As discussed, should Congress upon its return after the Labor Day recess
appear ready to move H.R. 4941, Congressman Wynn's stand-alone reliability
legislation; a large group of stakeholders would sign and send the attached
letter.  Although Enron would like the letter to be stronger, this letter
went through many revisions to reach the consensus language necessary for a
larger group to sign.  Thus, while not a perfect letter, it would send a
stronger message with a multitude of signatures.

The status of the letter is that it is being "held in our back pocket" should
it become necessary.  Pre-approval has been given and it stands in an
"almost" final form.  Should you have any grave problems with the letter, let
me know, and I will see what's possible given the constraints posed by the
group.

On a separate but related note, we are working with Joe and Dan to prepare a
short white paper to detail the "technical problems" still remaining with the
Wynn legislative language and will communicate these problems, Enron's
opposition and lack of bill "consensus" to the Hill shortly (as soon as this
paper is ready.)  I believe ELCON, EPSA and CMA will continue to share our
opposition although confusion remains on the Hill as to the exact reasons for
our opposition given the numerous versions of the legislation circulating.
thanks.

 - 08_04_00_Draft_Stake_ltr_WJL.doc


Our gifts to you this week: Several reports that offer insight into the
current market rally. Other topics of discussion include: a way to tap
your life insurance benefit if you're terminally ill, and how to combine
your retirement accounts the right way.

Charles Payne, principal analyst of Wall Street Strategies, explains why
he remains upbeat on stocks despite the lack of a potent Santa Claus
rally, and lifts his glass to the prospect of seeing Osama bin Laden's
head on a platter.

Also, equity research columnist Carla Drysdale explains the future
potential of a new Web-based technology that might have venture
capitalists drooling.

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Below
--------

- Investment ideas
- Personal finance
- Special reports
- Free and sponsored reports

Investment ideas
-----------------------------------------

1. INVESTMENT IDEAS
Watch out for Web services
Venture capitalists count the many ways of metaware

By Carla Drysdale, columnist

As technology and the information age continues to both enrich and
complicate our lives, chief information officers are becoming more
excited about an emerging field that promises to smooth out some of the
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The technology would allow a company to send updates to software
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Click here to read more.
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2. INVESTMENT IDEAS
Heads up!
While a Santa Claus rally did not materialize, it's worth
paying attention as we head into a brave new year

By Charles Payne, principal analyst, Wall Street Strategies

The market, especially technology stocks, had been priced for perfection,
but the utopian world that investors hoped for is still a work in progress.
That point was driven home via bad news from Juniper (JNPR),
Solectron (SLR) and Jabil (JBL), to go along with a series of
disappointments during the previous week.

Economic data that came down the pike during the week also painted a
picture of slow recovery at best. Yet there are reasons for investors to
feel optimistic while knocking back the eggnog (no doubt spiked a little
heavier than usual) this Christmas Day. Last week the initial jobless
claims came in lower than the previous week, stretching this trend to
three weeks. Now, the four-week average is 438,000, not below the
pivotal 400,000 but significantly lower than the 508,000 posted just a
few weeks ago. I know that just because people aren't losing jobs doesn't
mean they're findi

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=5422&nd=1222

WORD FROM OUR SPONSOR
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---------------------- Forwarded by Cassandra Schultz/NA/Enron on 11/08/2000
06:18 PM ---------------------------

From:  David Port
11/08/2000 05:14 PM

To: Shona Wilson/NA/Enron@Enron
cc: Cassandra Schultz/NA/Enron@Enron, Ted Murphy/HOU/ECT@ECT

Subject: Re: Doorstep meeting

Shona

How odd ? I came away with the impression that:

we would look at the outgoing commercial instructions to see whether they
support the activity of the guys in Chicago with phones in their hands, and
are in themselves wholly appropriate;
we would address the issue of not having taped lines;
we would address the issue of segregation of duties in the office, other than
in Powerpoint
we would get to the bottom of the difference between the AS400 and "Local
Access Database"
we would see a business model that defines how the office functions as an
"origination only" office
we would see a revised timeline for the resolution of the other issues in the
review

DP

	From:  Shona Wilson                           11/08/2000 04:37 PM

To: David Port/Market Risk/Corp/Enron@ENRON, Cassandra Schultz/NA/Enron@Enron
cc:

Subject: Doorstep meeting

---------------------- Forwarded by Shona Wilson/NA/Enron on 11/08/2000 04:41
PM ---------------------------

Mike Jordan@ECT
11/07/2000 06:45 AM
To: Shona Wilson/NA/Enron@Enron
cc: Sally Beck/HOU/ECT@ECT, Fernley Dyson/LON/ECT@ECT, Marcelo
Parra/NYC/MGUSA@MGUSA, Tim Poullain-Patterson/LON/ECT@ECT, Andrew
Cornfield/LON/ECT@ECT

Subject: Doorstep meeting

Shona

Thanks for the meeting yesterday - I think the process does improve the
transparency and accountability of issues raised.

After the call I mentioned to Ted that the meetings might be 'more efficient'
if the specific issues identified during doorstep visits - that underpin
report comments - were validated by the direct controller on 'point' for the
office/business - in this case Marcelo. Ted replied that no harm came from
the current approach and to a certain degree I agree that it is good to get
an immediate collective response to issues raised !However, I thought we
could discuss this for future meetings ( it could be part of the 'how to do a
doorstep review' that my guys requested so they are ready to do their
individual reviews next year ) -will call later

Additionally, I thought I would confirm with you the actions I took down

Marcelo and yourself to identify/communciate the specific control concerns
identified that were not part of the core tasks transfered
Marcelo to add these to existing process efficiencies ( such as systems
improvements etc ) and give a full timeline for all 'doorstep' issues
Tim to send details of outward bound Commercial instructions and to validate
that no specfic exceptions have been recorded to date.
Marcelo to validate that no existing business activities conflict
systematically with the above instructions
All to prepare for full NY review so as to validate compensating controls
exist and function in NY
Marcelo / Me to identify if any cultural issues are left from recent business
communications on roles and responsibilities
Myself to ensure that doorstep issues are included within database and
monitoring process ( on timelines ) happens

Will call later

Mike


What's the first day you have free for lunch?

 -----Original Message-----
From: 	Mahan, Mariella
Sent:	Monday, October 22, 2001 10:52 AM
To:	Hayslett, Rod
Cc:	Sommers, Jeffrey E.
Subject:	Finance Support

Hi Rod,

I know you will be looking into cost and support issues relating to the services we get from Enron Global Finance.  I am of the opinion that the dedication of a talented Global Finance professional will provide us with a much better work product (service) at a significantly lower cost, if we can get EGF to allocate 100% of the cost of the employee and eliminate their allocation to us entirely.

I would like to suggest that you consider Dan Castagnola as the dedicated resource.  Not only is Dan very familiar with all or a majority of our projects from both the commercial as well as the finance perspective, but in my experience working with him, he is an extremely creative and talented business person.  I would feel very fortunate to have Dan on my team.

Just a recommendation ...

Thanks, Mariella

ps: Jeff has worked with Dan so he can also give you his independent perspective.


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Hi, Jaime:

Attached for your further handling are the draft Schedule to the ISDA Master Agreement, together with Paragraph 13 to the ISDA Credit Support Annex.  Please attach the pre-printed form ISDA Master Agreement and the pre-printed form Credit Support Annex to the attached drafts before sending to the counterparty.  Let me know if you have any questions or need anything else.

Marie

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


Please post on internal site
----- Forwarded by Steven J Kean/NA/Enron on 03/13/2001 12:12 PM -----

	Peggy Mahoney@EES
	03/13/2001 09:21 AM

		 To: James D Steffes/NA/Enron@ENRON
		 cc: Elizabeth Ivers/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, Elizabeth Linnell/NA/Enron@Enron
		 Subject: Re: TALKING POINTS UC/CSU

Two documents:
First is the external document we faxed to certain reporters.
This is what Steve is referring to.

Second is the talking points which reflect all changes to date.
I am waiting legal approval - which I'm expecting any minute
(I emailed Mike Smith your changes last night).

We should put both on website as soon as I track down Mike or Vicki.

Thanks,
Peggy

From: James D Steffes@ENRON on 03/13/2001 07:59 AM
To: Peggy Mahoney/HOU/EES@EES
cc:
Subject: Re: TALKING POINTS UC/CSU

Peggy --

My understanding is that you and Steve Kean finished these talking points.
Can I please get the final copy?

Jim

	Peggy Mahoney@EES
	03/12/2001 10:31 PM

		 To: Sandra McCubbin/NA/Enron@ENRON
		 cc: James D Steffes/NA/Enron@Enron
		 Subject: Re: TALKING POINTS UC/CSU

From: Sandra McCubbin@ENRON on 03/12/2001 04:56 PM PST
To: James D Steffes/NA/Enron@Enron
cc: Peggy Mahoney/HOU/EES@EES
Subject: Re: TALKING POINTS UC/CSU

could we have this finalized by tomorrow am...also, understand CSU issued
press release,  could we see it asap..thanks


-----------------------------------------------------------------------------
NATIONAL JOURNAL'S TECHNOLOGY DAILY AM EDITION
is now available at http://nationaljournal.com/pubs/techdaily/
-----------------------------------------------------------------------------

MORNING HIGHLIGHTS:

ON THE HILL: Sen. James Jeffords' party switch could have an impact on
broadband legislation, the privacy debate and other tech issues.

PRIVACY: A European Parliament committee downplayed the extent of the
"Echelon" e-surveillance system.

ON THE HILL: The Senate confirmed Theodore Olson to be the Bush
administration's solicitor general.

INTELLECTUAL PROPERTY: The recording industry filed a
copyright-infringement lawsuit against the Aimster file-sharing service.

ALSO ON NATIONALJOURNAL.COM:
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http://nationaljournal.com/members/buzz/scene.htm

-- Ad Spotlight: N.J. Gov Candidate Jim McGreevey (D) Runs Early Ad
http://nationaljournal.com/members/adspotlight/2001/05/0525jmnj1.htm

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Please send the following e-mail addresses and telephone #s to bwhite@
pureresources.com:

me
Bruce Oakley at B&P
Steve Pruett at Enron


Pani Agato,

Dwa punkty:

1. Pytania
2. Dodatkowe komplikacje.

I. Pytania

Controlling wprzedsiebiorstwie

1. Prosze przedyskutowac podzial funkcji miedzycontrollingiem i
rachunkowoscia.
Czym rozni sie controlling odwewnetrznego i zewnetrznego auditing.
2. Prosze omowic zalety? oraz wady &rachunku kosztow dzialan8 (ABC).

Analiza wskaznikowa

1. Prosze przedyskutowac ograniczenia analizy wskaznikowej.
2. Prosze omowic istote analizy piramidalnej. Jakie informacje o stanie
finansowym przedsiebiorstwa mozna uzyskac stosujac te metode?

Pezentacja instrumentow analizy finansowej

1. Prosze omowic metody przewidywania potencjalnego? bankructwa firmy przy
zastosowaniu analizy wskaznikiwej.
2. Prosze przedyskutowac klasyfikacje wskaznikow ekonomicznych
wykorzystywanych do ocenyprzedsiebiorstwa.

II. Komplikacje.

We wtorek, 3 kwietnia rano, wylatuje do Filadelfii. Powinienem dotrzec do
hotelu okolo godziny 12 czasu lokalnego, czyli godziny 6:00 wieczorem czasu
polskiego. Roznica czasu w stosunku do Houstonu jest 7 godzin, ?w stosunku
do
wybrzeza wschodniego jest 6 godzin.

Jutro przesle szczegolowy plan podrozy, ktory bedzie zawierac adres i numer
hotelu. Prosze przeslac mi numer, na ktory moge zadzwonic, by podac numer
pokoju, lub zadzwonic z samolotu w przypadku opoznienia lotu.

W. Kaminski


Rob, Paul is scheduled to come to Calgary early next week.  He should have a
good idea of how Enerconnect went then.  I'm assuming your in, if you are not
please call Paul and reschedule.  I'm in Houston for the rest of the week.


To make sure that Enron is not missing any opportunities to make our points
on competition, we need to develop some key message points and facts.

My understanding is that the key story line is that  "COMPETITION IS WORKING
AND SHOULD BE PUSHED FORWARD".
We need to be able to give examples of what is happening - deregulation
customers are winning.  For example, our CSU customers are just fine even
with higher energy markets.

I think that are some key questions that we need to consider when we put
these together:

Who is the audience?  My answer - California policymakers, key stakeholders,
FERC, federal government.

Can we use this in the FERC Investigation on Markets?  My answer - we have
to; California is too big and important not realize that California will play
a role in FERC's discussions.

What is the timing of message?  My answer - Wherever and whenever; needs to
be coordinated.  This CA legislative process (next 2.5 weeks) may be a
possibility.  FERC Investigation.  Taking the story nationally is good if we
have the facts from CA.

Who will deliver the message?  My answer - Everyone on the Enron team needs
to have the same message all of the time.  We can't let any opportunity pass
us by.

Do we demonize the utilities?  My answer - if necessary; we just need to make
sure that we have as many facts to prove our points if we do attack.

How do we prove that "rolling back" to regulation is ridiculous?  My answer -
retain LEGC to develop the hypothetical of what would have happened?  NEEDS
TO BE DISCUSSED INTERNALLY - LEGC MAY NOT BE THAT FRIENDLY.

Next Steps:  Jeff Dasovich needs to put out first cut based on our earlier
notes and any incremental information from our analysis teams (e.g., TCA,
McNally / Temple).

Thanks,

Jim


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Start Date: 4/14/01; HourAhead hour: 19;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041419.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 19 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SPP
  ENGY_TYPE: WHEEL

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 19 / Preferred: -125.00 / Final: -124.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TRADING_SC: SETC
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 19 / Preferred:  25.00 / Final:  24.92)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TRADING_SC: PGAE
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 19 / Preferred: -60.00 / Final: -59.98)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TRADING_SC: NCPA
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1


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Welcome to Enron Center South. As you have probably already noticed, things look a little different here. We wanted to orientate you to your new environment and inform you about the future technology coming on-line in the coming weeks.

Occupancy Guidebook To Enron Center South
You will find this handy guide on your desk; it contains information concerning the enhanced printer environment, the new easy access keyboards and telephony procedures.

NEC Monitors
The NEC monitors have an internal anti-glare screen to help reduce eye strain and eliminate the need to install an additional screen cover.  Additionally, an integrated speaker has been installed on one monitor for each desk.

Turret Users
An "Alliance MX turret quick reference guide" has been placed on your desk; this includes important information about the new features such as "Caller ID" and "Voicemail Indication".

Increased Information Access
There are many NEC 50" Plasma screens installed on the 5th and 6th floors.  While many of these will be displaying information designed for the specific unit, others will be displaying various television channels.  The audio to these television channels can be accessed via any of your telephony equipment.  Here's how:

Ten audio channels have been set up for access from your either your Avaya telephone, Stentophon, or IPC Turret.  The channels have been defined on Page 15 of your Turret.  To access the audio from either your Avaya or Stentophon, simply dial the extensions shown in the table below:

Channel	Avaya	Stentophon
Weather Channel	12401	801
CNN Headlines News	12402	802
CNN Financial News	12403	803
CNBC	12404	804
MSNBC	12405	805
Bloomberg	12406	806
Financial News Network	12407	807
CNN	12408	808
Fox Sports	12409	809
ESPN1	12410	810

Wireless Telephony
You may notice the cellular phone coverage is not consistent across the floor, and some areas have virtually no coverage at all.  We are implementing a multi-network "in-building" system to provide consistent high quality service for the campus, keeping you in touch while you are on the move.

Wireless LAN
The infrastructure to support Wireless LAN technology is in place and is being tested. We will be implementing multi level encryption and security to keep our intellectual property safe from eavesdroppers or hackers.

Amtel Replacement
As a move to provide a more flexible "Plug n Play" environment and to help with the reduced desk footprint, we have replaced the Amtel message boxes with Microsoft Exchange Instant Messaging. The Global Messaging Team is testing additional software products to provide some of the features not available with Exchange Instant Messaging; these include one-touch response keys, external LED display, and printing.  Updates will be provided as they become available.

Keeping an Open forum
We will keep you informed of the changes and developments as the migration to the building continues, please feel free to respond with any comments, queries or suggestions to  mailto:Enron.Center.South.Technology@enron.com