Will -

I've passed your phone number along to Bill Williams, the Real Time group
manager here in Portland. He should be contacting you shortly to discuss
problems with and changes to the Scheduling Activity Report. I've checked
with other groups on the floor and found that the report is only used by Real
Time, and less frequently by groups assisting Real Time, so I believe Bill or
someone in his group could most suitably test the new application. Let me
know if there's anything else I can do, and thanks for all your help today.

Kate


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BW2013  JAN 21,2002       2:05 PACIFIC      05:05 EASTERN

( BW)(TX-INDUSTRIAL-INFO-RES) Hydro Aluminum Investment in North
American Secondary Aluminum Sector to Exceed $100 Million, in an
Advisory by Industrialinfo.com

    Business/Energy Editors

	   HOUSTON--(BUSINESS WIRE)--Jan. 21, 2002--The following is an
advisory by Industrialinfo.com (Industrial Information Resources Inc.;
Houston). Despite a somewhat depressed secondary aluminum market,
Hydro Aluminum Metal Products North America (Louisville, Ky.) a
subsidiary of Norsk Hydro ASA (NYSE:NHY) (Oslo, Norway) will spend
over $100 million on new facilities over a five year period. As part
of a continuing strategy to expand its international network of
secondary aluminum smelters, which includes five in Europe, Hydro
Aluminum has started construction of its second grassroot North
American secondary aluminum smelter to be located in Commerce, Texas.
The $37 million plant is scheduled to start operations late this year.
The plant will produce 90,000 metric tons a year of aluminum billet
from recycled scrap for sale to extruders and other aluminum end
users.
	   2001 was an active year for Hydro, not only did they open their
first grassroot secondary aluminum smelter in Henderson, Ky., they
also acquired Wells Aluminum and its associated secondary smelter in
Monett, Mo. This will give the company three secondary aluminum
smelters with a total capacity of 260,000 metric tons starting in 2003
when the Commerce plant will be in full operation. The company has
plans on the drawing board for a fourth smelter to supply the
northeastern U.S., once market conditions necessitate the demand. As
competitors have downsized recently, Hydro Aluminum has gone against
the grain utilizing its industry experience and energy efficient
technology to become a world leader in the aluminum billet market.
	   Norsk Hydro is an industrial leader-based in Norway and focused on
world growth of oil and gas resources, light metals and agricultural.
	   Industrialinfo.com provides daily news related to the industrial
market place including forecasts, outlooks, industry alerts, and
databases for the energy and industrial markets. For more information
on trends and upcoming construction activities for the metals &
minerals or energy markets as well as other industrial sectors send
inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at
www.industrialinfo.com.

    --30--HM/ho*

    CONTACT: Industrialinfo.com, Houston
             Joseph Govreau, 713/783-5147

    KEYWORD: TEXAS KENTUCKY MISSOURI NORWAY INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: CHEMICALS/PLASTICS ENERGY MINING/METALS OIL/GAS
    SOURCE: Industrialinfo.com

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permission.


Marianne, i increased the 33dth to 800dth for 1/30-31.  i will forward this
email to Chris Germany and let him discuss the price with Brian.   is that OK
with you???

k64231/126 was=33  now=800

---------------------- Forwarded by Joann Collins/Corp/Enron on 01/30/2000
11:48 AM ---------------------------

mstiles@columbiaenergygroup.com on 01/30/2000 09:44:25 AM
To: Joann Collins/Corp/Enron@ENRON
cc: "        -         *Perrone, Brian" <bperron@columbiaenergygroup.com>

Subject: Re: CKY 1/27 and 1/28

There is a later one also than came back undeliverable and I resent which I
will forward.   And also per Brian we needed it through the end of month
also.

It does get confusing.   There are numbers flying around from everywhere.   I
guess there is nothing you can do today.   I really need this through the end
of month.   There are huge penalties involved here.

Joann_Collins@enron.com on 01/30/2000 10:34:35 AM
Please respond to Joann_Collins@enron.com

To: Marianne Stiles/CES/ColumbiaGas@COLUMBIAGAS
cc:
Subject: Re: CKY 1/27 and 1/28

Marianne here is the email you sent that said only for 27&28th.

---------------------- Forwarded by Joann Collins/Corp/Enron on 01/30/2000
09:31 AM ---------------------------

 (Embedded     Enron North America Corp.
 image moved
 to file:      From:  Joann Collins
 pic27304.pcx) 01/27/2000 11:20 AM

To:   mstiles@columbiaenergygroup.com
cc:

Subject:  Re: CKY 1/27 and 1/28  (Document link: Joann Collins)

K64231

mstiles@columbiaenergygroup.com on 01/27/2000 10:19:32 AM

To:   Joann Collins/Corp/Enron@ENRON
cc:   "        -         *Swogger, Joanne"
      <jswogge@columbiaenergygroup.com>, "        -         *Perrone,
      Brian" <bperron@columbiaenergygroup.com>

Subject:  CKY 1/27 and 1/28

Just talked to Brian..... I need the additional 767 dth for the above two
days
going to CKY (18-12).   Please let me know the contract number.

 - pic27304.pcx


Per our conversation, it appears that the two companies are going to merge in
October?  Looking at Lotus Notes, I don't think we could pick two bigger dogs
of masters to have in place.  I don't think we want either master to be the
survivor master.  With Chase we have an old 1987 Interest Rate and Currency
Exchange Agreement and with Morgan we have a Master Energy Price Swap
Agreement.  Yuk, yuk.  If I had my druthers I say, LET'S START OVER.  I know
it's far reaching, but maybe we could make it our goal to have this master
replaced by October.  Do you think that's do-able?  Do we have a contact at
Chase/Morgan we can start dealing with?  I'm going to add chase to the
Legal/Credit list just as a tickler for us to get this thing rolling.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/23/2001
05:28 PM ---------------------------

jgshelp <jgshelp@rice.edu> (by way of Suzana Gamez-Vazquez <ramos on
04/23/2001 09:00:36 AM
To: (Recipient list suppressed)
cc:
Subject: Fwd: VIRUS Advisory - W32/Badtrans@MM and W32/Matcher@MM

MESSAGE FROM IT STAFF:

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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/22/2000
05:45 PM ---------------------------

Jim Garven <James_Garven@baylor.edu> on 12/14/2000 03:33:52 PM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: Greetings from Baylor University

Dear Vince,

Thanks for writing back.?? I am glad to hear that Shane Green is working
there and doing so well.? Please give him my regards.?

Let's plan on having you speak for our Gamma Iota Sigma dinner on the evening
of 2/23.? It is my understanding that you are going to be in town anyway for
John Martin's "new economy" seminar.? Will you be needing a hotel
accommodation for that evening?? If so, please let me know and I will have my
secretary arrange accommodations for you.

Concerning class presentations, I am curious when whether we can try to
arrange a date.? I am teaching two undergraduate sections of a business risk
management course from 11-12:20 and 12:30-1:50 on Tuesdays and Thursdays this
spring.?? I also am teaching a graduate version of the same course from
3:30-4:50 on Tuesdays and Thursdays, but when you come I will probably have
you speak to the undergraduate classes and have my graduate students attend
either of those sessions.? The spring semester starts January 9 and ends May
1, and the following dates are already taken for other speakers, exams, or
spring break:

Thursday, February 15 - Midterm exam 1
Tuesday, March 6 and Thursday, March 8 - no class (spring break)
Thursday, March 15 - presentation on risk adjusted discount rate
methodologies by Dr. Richard Derrig, Automobile Insurers Bureau of
Massachusetts
Tuesday, April 3 - Midterm exam 2

Please let me know at your earliest convenience when you would like to
schedule a presentation.? Considering the fact that the presentation would be
scheduled for around the middle of the day, it would probably be technically
possible for you to make your visit into a day trip (back and forth from
Houston) in case if you are pressed for time.? Continental flies here from
Houston, but unfortunately the morning flight doesn't come in until 10:45
a.m., which would be too late for a presentation to the 11 a.m. class.

Thanks again,

Jim

At 01:57 PM 12/12/2000 -0600, Vince.J.Kaminski@enron.com wrote:

Jim,

Sorry for the delay in responding to your message. I was traveling
extensively
and was overwhelmed with many different projects.

I shall be glad to speak at the Gamma Iota Sigma dinner. Unfortunately,
cannot make
a presentation to your class (it would require leaving the office for two
days in a row).

I can, however, promise to come on another day and speak to your students.

I hope everything is going well for you. By the way, your former student,
Shane Green, has joined us
for 12 month and is doing exceptionally well.

Vince

Jim Garven <James_Garven@baylor.edu> on 11/28/2000 05:10:55  PM

To:?? "Vince J Kaminski" <Vince_J_Kaminski@enron.com>
cc:
Subject:? Greetings from Baylor University

Dear Vince,

Since we last corresponded, I have left LSU and am now Professor of Finance
& Insurance at Baylor University in Waco, TX.? My colleague at Baylor, John
Martin, mentioned that you will be coming to campus for a conference on
Friday, February 23 that he is organizing.?? I am curious whether your
schedule might permit staying over that evening so that we can feature you
as our dinner speaker for the chartering ceremony of Gamma Iota Sigma,
national risk management fraternity.? For that matter, would you also
possibly be available to make any presentations to undergraduate  and
graduate students on the previous day (Thursday, February 22)?? What I have
in mind is a presentation similar to the presentations you made last spring
to my LSU classes.

Thank you for your consideration of this request.? I am looking forward to
seeing you once again.

Sincerely,

Jim Garven

_________________________________________
James R. Garven, Ph.D.
Professor of Finance & Insurance
Department of Finance, Insurance and Real Estate
Hankamer School of Business
HSB 336
Baylor University
Box 98004
Waco, TX? 76798

Voice: (254) 710-6207
Fax: (603) 994-6680

E-mail:? James_Garven@baylor.edu
Home Page: http://garven.baylor.edu
Vita: http://garven.baylor.edu/dossier.html
Research Paper Archive: http://garven.baylor.edu/research.html
_________________________________________


Debra & Dan -

Attached is a worksheet for a new Master Firm Purchase/Sale agreement, with
Public Utility District No. 1 of Clark County.

Dave Fuller in the Portland office is working on a long-term gas supply deal
with this counterparty, with a total value of $500 million.  We need to get a
draft agreement to him ASAP.  Please make every effort to get this out at the
absolute early possible opportunity!!!

Sorry for the rush, but thanks in advance for your assistance,

Jay


In case you haven't seen it, I've attached a link to an ABC news site that
has a scanned copy of the "smoking gun" letter written by an officer of
Enron to Chairman Lay in October.  Although you'd have to be a CPA or
finance-type to appreciate fully the depth of the apparent deception and
subtlety of the accounting methods mentioned in her letter, I'm struck by
Ms. Watkin's candor, and how she offers a truthful assessment of the
landscape and even a prescription for how Enron might claw its way back from
this brinksmanship.  Unfortunately, it now appears this letter came "too
little, too late," and in any event, went unheeded.

Suffice it to say this whole debacle makes me sick and a little ashamed for
having been associated (by employment) with the perpetrators of this farce.
Although the gas pipeline group I worked for apparently never took part in
these shenanigans (we made our money the old fashioned way -- we earned it),
as Ms. Watkins says, my "Enron work history will now be worth nothing on my
resume."

Hard lessons have been learned by everyone, and the repercussions will be
felt for years to come.  I saw this quote today in Restructuring Today and
thought it was poignant:

What's important:  Beyond the many other issues -- including the
appropriateness of time in an upscale correctional facility for people we
have considered business friends -- what really matters is that the checks
and balances our society has created for the world of commerce failed
miserably.  It would be shocking if Auther Andersen survives as an auditor
of anything.  Even so, our system needs radical improvement.

http://abcnews.go.com/sections/pdf/layletter020115.pdf
<http://abcnews.go.com/sections/pdf/layletter020115.pdf>


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The Bangladesh subsidiary of Unocal Corp hopes to receive approval by June of 2002 from Dhaka to start exporting gas to India.

Phillips Announces 2002 Budget <http://www.rigzone.com/news/article.asp?a_id=2172>
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Cal Dive Acquires Canyon Offshore <http://www.rigzone.com/news/article.asp?a_id=2128>
Cal Dive International, Inc. has agreed to acquire 85% of Canyon Offshore, Inc.

Vietsovpetro Hits Offshore South Vietnam <http://www.rigzone.com/news/article.asp?a_id=2132>
Vietsovpetro has found hydrocarbons in the South White Tiger area offshore South Vietnam.

Hydril Receives Another BOP Order from Diamond <http://www.rigzone.com/news/article.asp?a_id=2138>
Hydril Company has received another order for the purchase of a blowout preventer multiplex control system from a subsidiary of Diamond Offshore.

McDermott Awarded Caspian Contract <http://www.rigzone.com/news/article.asp?a_id=2140>
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Enron Recruitment Technology is launching a new, easy to use, web-based
Employee Referral Program.

 This new site will help you to help Enron find the talent it needs.
Referrals are one of the best sources of talent for Enron in terms of quality
and fit with Enron's culture. We have found that referrals stay with the
company longer and adapt faster than those hired through other sources. This
site will help us run a world-class employee referral program with less work
and better results.

 There are also incentives for you. If you refer a candidate who is hired,
you could be eligible to receive a cash reward of up to $5,000.

 So help someone accelerate their career, make yourself some money, and help
us realize our mission of being the World's No. 1 Company.

 Check out the site - http://enron.referrals.com/promo.asp - let us know what
you think -- we want to hear from you. This application should make referring
easier for you so if you have suggestions that would enhance the program,
send us an e-mail (Referral.Station@enron.com) or contact the Referral
Station at (713) 345-3254, option 2.

 David Oxley

;


calendar
----- Forwarded by Steven J Kean/NA/Enron on 12/04/2000 08:31 AM -----

	Rebecca Carter
	Sent by: Kelly Johnson
	11/30/2000 12:07 PM
	Please respond to kelly.johnson

		 To: Cliff Baxter/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, James
Derrick/Corp/Enron@ENRON, Andrew S Fastow/HOU/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT,
Karen S Owens@ees@EES, Kevin Hannon/Enron Communications@Enron
Communications, Ken Rice/Enron Communications@Enron Communications, Stanley
Horton/Corp/Enron@Enron@Eott
		 cc: Susan Skarness/HOU/ECT@ECT, Sharron Westbrook/Corp/Enron@ENRON,
Stephanie Harris/Corp/Enron@ENRON, Bridget Maronge/HOU/ECT@ECT, Maureen
McVicker/NA/Enron@Enron, Nicki Daw/NA/Enron@Enron, Liz M Taylor/HOU/ECT@ECT,
Karen Owens/HOU/EES@EES, Carol Ann Brown/Enron Communications@Enron
Communications, Dorothy Dalton/Enron Communications@Enron Communications,
Cindy Stark/Corp/Enron@ENRON
		 Subject: ENE Board Meeting - December 12th

The Enron Corporate Policy Committee has been invited to attend the Tuesday,
December 12th Board meeting. The meeting begins in Executive Session, a
closed session, involving the Board members at 8:00 a.m. Following the
Executive Session, the Corporate Policy Committee will be asked to join the
Open Session beginning at approximately 9:00 a.m. Since we are never sure of
the exact length of the Executive Session, we request that, if you are
attending, you wait in EB5001 until the Executive Session is completed.


I?am Antonio Vergara from Monterrey Office I?m wondering if you are available at yahoo messenger. This morning I?ll be closing some transactions.

Regards,

Antonio Vergara-Lope


- 10_18_01OH.xls
 - 10_18_01GO.xls
 - 10_18_01LO.xls


I have looked it over.  I think they would do a good job.  Another idea:
Dick Foster (advisor to Enron's Board and Senior Director at McKinsey) has a
great book out: "Creative Destruction".  I was on a panel with him recently
where he shared some of his research.  He is a very good presenter; he knows
Enron well; and his work is first rate.  He might be a good addition.  I have
an idea on the breakout sessions.  It needs some work but I'd like to talk it
through with you.

TERRIE JAMES@ENRON COMMUNICATIONS
07/05/2001 01:09 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Funky Business

Steve,

Have you had a chance to look at the book "Funky Business" and to give any
thought to having Jonas present at the Management Conference?  I know you
have a thousand other things on your plate, not the least of which is
California, so I understand if the answer is no.  However, they've been
contacted by someone else about the date so we may be forced to decide rather
soon.

On a related subject, I'm contemplating another topic for the conference.
I'd seen an article in Fortune several months ago titled "Managing for the
Slowdown."  It talked about new challenges managers face in light of the
economic downturn.  (Most young managers have never experienced anything but
boom times.)  The article also outlines a dozen or so things companies should
be thinking about now.  (Use the downturn as a new opportunity to evaluate
people.  Overhaul your budget process.  Don't stop communicating. etc.)  I
think it would be beneficial to address similar strategies and ideas with our
managers.  I'd love to get your thoughts on this idea.  (Is it appropriate
for Enron or am I just seeing the world through bleak-colored glasses?)

Terrie James
Sr. Director, Corporate Communication
Enron Broadband Services
713-853-7727 (phone)
713-646-8887 (fax)
terrie_james@enron.net
----- Forwarded by Terrie James/Enron Communications on 07/05/01 12:44 PM
-----

	Alison@isbspeakers.com
	07/05/01 10:40 AM

		 To: Terrie James/Enron Communications@Enron Communications
		 cc:
		 Subject: Funky Business

 July 5, 2001

 Terrie:

 We received an e-mail today from the Funky Business office asking about the
 date we have on hold with Enron.  They have another inquiry about that date
and
 wondered if Enron is still considering using Jonas.  If you are still
 considering them I will keep him on hold.  And if they get a firm offer I
will
 let you know immediately.  We will have 24 hours to make an offer or release
 the hold once a firm offer comes in from another company.

 Hope you had a great 4th of July,

 Alison Kravetz
 800-842-4483 x239


Thanks to all of you, Enron North America has had an outstanding year in
2000.  Some of the more notable accomplishments include:
a) 100% plus increase in EBIT from 1999 actuals to 2000 forecast;
b) significant rationalization of the balance sheet including the sale of the
(i) Wind River/Powder River gathering assets, (ii) East Coast Power
generating assets, (iii) HPL and (iv) five of the six Eastern Peakers;
c) ENA is the leading energy merchant by a factor of two;
d) physical electricity volume grew by 34% YTD 1999 to YTD 2000 forecast;
e) natural gas volumes grew by 82% YTD 1999 to YTD 2000 forecast;
f) 500% growth in daily transactions from November 1999 to November 2000 due
to the highly successful Enron OnLine distribution channel; and
g) ENA reaching its 25% ROCE target.

These are truly outstanding accomplishments and our expectations for growth
and opportunity in Enron North America for 2001 are consistent with that
success.  In order to reach these goals, we felt it necessary to re-align a
number of our organizations. A number of these changes are completed.  The
goals of such re-alignment include:
a) increase overall productivity with the goal to ensure that every employee
is in a position to contribute regardless of skill set;
b) increase overall market coverage, deal flow and information generation
with the goal to increase bid/offer income, increase the velocity of deal
flow, improve customer coverage and promote quality information transfer to
our trading organization;
c) increase deal quality and earnings quality with the goal to (i) allocate
our resources towards the best transactions and (ii) significantly increase
our &mid-market8 originated transactions in our portfolio;
d) promote real time decision making and a closer tie between our trading and
origination (mid-market and structured) organizations in order to better
align those functions to reduce the amount of un-productive internal focus;
e) increase the overall velocity of the capital being utilized consistent
with our goal of a 25% plus return on capital employed; and
f) identify and recognize a host of new leaders in the organization that are
critical to meeting our goals next year.

With these objectives in mind, patterned after the successful business models
in Calgary and Portland, effective immediately the following changes are
being implemented:
a) East Power ) a single East Power Team incorporating trading, mid-market
and origination will be formed under the co-leadership of Kevin Presto and
Janet Dietrich who will report to the Enron Americas - Office of the Chairman
(EA OOC).  This team will have one income statement, one book and a joint
accountability. However, a clear delineation of responsibilities inside these
teams will continue to exist in which the trading organization will manage
the risk, income statement and product development aspects of the
partnership. The originators will have the primary responsibility to generate
origination income, provide coverage, deal flow, lead strategy formulation,
provide information and generate strategic positions.  Overall, the team will
be rewarded based upon increasing the value of the book, meeting
coverage/deal flow targets and meeting its strategic/growth goals in the
Eastern power markets. The team will be responsible for covering the IOU,s,
muni,s/co-ops, industrials and IPP,s and will utilize all ENA,s product
capabilities including the power commodity, assets and capital. The team will
further be broken down into several key strategic regions and business units
including:
  (i) ERCOT ) managed by Doug Gilbert Smith and Bruce Sukaly;
  (ii) NE ) managed by Dana Davis and Jeff Ader;
  (iii) Midwest ) managed by Fletch Sturm and Ed Baughman;
  (iv) SE ) managed by Rogers Herndon and Ozzie Pagan;
  (v) East Power Development ) managed by Ben Jacoby;
  (vi) East Power Structuring  - managed by Bernie Aucoin; and
  (vii) East Power Fundamentals and the &Genco8 ) managed by Lloyd Will

b) West Power ) there will be no changes to the Portland office which is
managed by Tim Belden and Chris Calger .  Both Tim and Chris will continue to
report to the EA OOC.
c) Canada and Mexico ) there will be no changes to the Canadian or Mexican
offices which are managed by Rob Milnthorp and Max Yzaguirre respectively.
Both Rob and Max will continue to report to the EA OOC.
d) U.S. Natural Gas ) there are several changes anticipated in this business
consistent with the goals and objectives described above. The changes
primarily affect the East, Central, West and Texas gas regions. Each region
will consist of a single gas team incorporating trading, mid-market and
origination. Each team will have one income statement, one book and a joint
accountability. However, a clear delineation of responsibilities inside these
teams will continue to exist in which the trading organization will manage
the risk, income statement and product development aspects of the
partnership. The originators will have the primary responsibility to generate
origination income, provide coverage, deal flow, lead strategy formulation,
provide information and generate strategic positions. Overall, the team will
be rewarded based upon increasing the value of the book, meeting
coverage/deal flow targets and meeting its strategic/growth goals in the
Eastern, Western, Central and Texas gas markets.  The team will be
responsible for covering the LDC,s, muni,s/co-ops, industrials, IOU,s, IPP,s
and the producers.  There will be an increasing focus on the upstream side of
the business including the producers, transporters and storage providers in
addition to market area opportunities. The team will utilize all of ENA,s
product capabilities including the gas commodity, assets and capital. Each of
these groups will report directly to the EA OOC;
East Gas ) a single East Gas Team incorporating trading, mid-market and
origination will be formed under the co-leadership of Scott Neal and Frank
Vickers who will be returning from Portland to join this team.
West Gas  ) in a similar manner, a West Gas Team will be formed co-managed by
Phillip Allen and Barry Tycholiz, who will be joining us in Houston from the
Canadian team. The Denver office under Mark Whitt will be integrated under
this team.
Central Gas )  in a similar manner, a Central Gas Team will be formed
co-managed by Hunter Shively and Laura Luce. The Chicago office will be
integrated into this team.
Texas Gas ) the Texas Gas Team will be managed by Tom Martin. This team will
continue to manage the gas trading business around HPL until the pending sale
is concluded in Q2 2001.  After the sale of HPL, this team will build a Texas
gas business without ownership of the HPL assets.
Financial ) this group will continue to be managed by John Arnold with no
significant changes.
Derivatives ) this group, lead by Fred Lagrasta, will offer derivative and
financial mid-market products and services to the natural gas market
specifically targeting CFO,s and treasury departments.  Fred will continue to
maintain certain existing mid-market accounts with a number of producer and
industrial accounts where relationships are well formed. Otherwise,
mid-market coverage will gravitate to the regions. The New York office gas
marketing efforts will continue to be managed by Fred.
Upstream Products ) this group, lead by Jean Mrha, will develop several
distinct product offerings for the upstream segment of the gas market.  This
group will develop and market the product in conjunction with the regions.
This is consistent with our desire to have a broader product offering and
greater market penetration in the upstream segment.  These products include
producer outsourcing, similar to our successful Petro-Canada and Suncor
relationships in Canada, physical storage re-engineering, compressor
services, wellhead liquidity products and offshore asset and capital
products.  In addition, Jean will manage our Bridgeline joint venture with
Texaco.
Gas Structuring ) this group will be lead by Ed McMichael, reporting to Frank
Vickers, will provide structuring and deal support to all the gas teams.
Gas Fundamentals ) this group will be lead by Chris Gaskill, reporting to
Hunter Shively, will provide fundamentals to all the gas teams.

Julie Gomez will continue to support the gas floor through several identified
projects including long-term supply/demand analysis and, natural gas
transportation capacity trading opportunities.

There is an expectation of some customer overlap between the gas and power
groups; for example, the combination utilities and the IPP,s.  The teams will
coordinate with regard to the combination utilities like Con. Edison or
PG&E.  With regard to the IPP,s, to the extent that the product offering
involves an underlying power position, the power teams will manage. We have
asked Janet Dietrich to coordinate such overlaps between the two
organizations in Houston.

e) Technical/Restructuring - In the effort to consolidate and centralize our
technical resources (engineering, development, operations, pipeline) to
ensure that this skill base is available to all ENA groups and utilized
productively across the organization, Brian Redmond will form and manage the
Technical Services Group.  This group will manage ENA,s technical risks and
will provide, on a cost basis, technical services for the entire ENA
organization. This group will manage the interface with EE&CC and OEC.  In
addition, the Restructuring Group, currently managed by Dick Lydecker, will
report to Brian Redmond.  This group is currently monetizing a large portion
of the merchant investment portfolio given our current strategies.  This
group will have continuing responsibility to manage troubled commodity and
capital transactions that need considerable time and attention to manage risk
and monetize.

In addition to these responsibilities, Brian will manage the pending sale and
transition of the HPL asset over the next couple quarters as regulatory and
securities approvals are obtained in order to complete the sale.  Brian will
report to the EA OOC.

f) Principal Investing  )  with the departure of Jeff Donahue to new
opportunities in EBS, ENA,s venture capital function will be managed by
Michael L. Miller.  This group makes small investments in distributed
generation, power quality and technology companies that can benefit from
Enron,s distribution channels and expertise.  Michael will report to the EA
OOC.

g) Corporate Development ) Tim Detmering will assume the corporate
development responsibilities for ENA as Jeff transitions to his new role and
will report to the EA OOC.

h) Generation Investments ) there will be no changes to this group managed by
Dave Duran. Dave will continue to report to the EA OOC.

i) Energy Capital Resources ) there will be no changes to this group
currently lead by C. John Thompson and Scott Josey.  John and Scott will
continue to report to the EA OOC.

As a final note in the interest of keeping things simple, Enron Americas will
have two operating divisions  - Enron North America and Enron South America.
As a result, we will continue to conduct business under these two operating
companies; therefore, eliminating the need to change legal entities et al.
If you are currently a commercial employee of ENA or ESA you will continue to
conduct business in that company.

We look forward to another exciting year in the North American energy
market.  This is certainly a company unrivaled in the marketplace with the
most talented employees.  The opportunities are endless.  We wish you and
your family a very happy and safe holiday season.


Dear icruise Member,
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12 day South America cruise sailing from Valparaiso to Buenos Aires ...
Sail date: 11/12/02
http://www2.i-cruise.com/Specials.htm?833
Limited time!

Norwegian Cruise Line, Norwegian Dream, from $ 2025   (Port Charges Included)
Inside or $2311 Ocean View,
12 day cruise to the Baltic Capitals sailing roundtrip from Dover ...
Sail date: 7/24/02
http://www2.i-cruise.com/Specials.htm?834
Limited time!

Carnival Cruise Lines, Carnival Spirit, from $ 828   (Port Charges Included)
Inside or $1107 Ocean View ,
7 day cruise to Alaska sailing roundtrip from Vancouver ...
Sail date: 9/11/02
http://www2.i-cruise.com/Specials.htm?835
Limited time!

Holland America Line, Volendam, from $ 1067   (Port Charges Included)
Inside Cabin or $1314 Ocean View,
7 day cruise to Alaska  sailing roundtrip from Vancouver ...
Sail date: 7/8/02
http://www2.i-cruise.com/Specials.htm?836
Limited time!

Royal Caribbean Cruise Line, Rhapsody of the Seas, from $ 932   (Port Charges Included)
Inside or $914 Ocean View ,
7 day Western Caribbean cruise sailing roundtrip from New Orleans ...
Sail date: 3/30/02
http://www2.i-cruise.com/Specials.htm?837
Limited time!

To take yourself off our specials mailing list please go to
http://www2.i-cruise.com/unsubscribe.htm and follow instructions

All prices are per person, subject to availability, change without
notice, and are capacity controlled. Unless indicated, prices do not
include airfare, air taxes or government taxes/fees and port taxes. A
$11 shipping and handling fee will be added.


A couple of months ago, we formed a new group within EPSA called the
Regulatory Affairs, Washington Staff, group (the name needs some help).  We
discussed many things the group can do to increase our EPSA presence at FERC,
including establishing monthly lunches featuring a different FERC
guest/speaker per lunch.

Yesterday, Donna and I attended the first lunch of the group, sponsored by
Mirant (Enron will be sponsoring the July lunch).  The FERC guest speaker was
Don Gelinas.  (We believe Don had a big part in the Entergy Source & Sink
order, so he is an important person to know.)  There were about 12 people at
the lunch, which was a good number because it gave us all a chance to speak
with Don and get to know him a little better.  The group was relaxed and
festive, and I think this put Don at ease as well.

Don made a few remarks at the end of the lunch.  He said the Commission's
main focus (other than California) was on the RTOs and getting them up and
running by the end of the year.  He said FERC's main concerns are on:
1)independence, 2) appropriate incentives, and 3) appropriate scope.

Don acknowledged that having sufficient scope is a problem with a voluntary
program, but he believes the Commission, under Hebert's leadership, will be
able to gradually expand the scope of the RTOs so that ultimately there are
only a handful of RTOs in the country.  Furthermore, Don said there are
certain issues he believes must be included in RTO filings, including putting
native load under the RTO tariff.   However, he says that phase-in may be
necessary, and the trick will be in finding a reasonable phase-in period.

Other issues that Don said may require actual FERC decisions (FERC calling
balls and strikes) will be on issues such as ATC, CBM and curtailment.  Don
said ATC should be calculated the same way by all RTOs and that the question
of retaining CBM must be decided by FERC.

Based on these comments, these three areas may be places where we could get
some FERC support for our views.  We should keep this in mind as we comment
on future RTO filings.

Let us know if you have any questions or comments.

Sarah and Donna


?
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																						Enerfax Daily

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																															Looking  for a past article or issue. Click here to use Sagewave's  Search.

																														Enerfax  Daily? -? Page  ? -? November 20,  2000

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																																			Enerfax  Daily? -?  Page 4? -?  November 20, 2000 -? ?  Past  Issues
Available on Sagewave

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																Total to Build Deep-Water Gulf of
																Mexico Gathering System

																? ? TotalFinaElf plans to construct a natural gas  gathering project with its
north American partners in the Gulf of  Mexico, enabling the development of
three deep offshore natural gas  fields. The project consisted of a 56-mile
pipeline with a  transmission capacity of 500 MMcf per day and a processing
platform,  owned and operated by Williams.? Construction of the Canyon
Express pipeline, in the Mississippi Canyon area about 120 miles  southeast
of New Orleans, will begin next year. The gathering system  will begin
operating in summer 2002, at the same time as the three  natural gas fields,
Aconcagua, King's Peak and Camden Hills. Canyon  Express was a major
technological breakthrough for TotalFinaElf,  making it possible to undertake
oil and natural gas operations at  previously untapped depths of over 6,000
feet. The gas gathering  system will be operated by Elf Exploration and
belong to the  companies who owned the Aconcagua, King's Peak and Camden
Hills  fields. Aconcagua is operated by Elf Exploration which has a 50%
stake in the field. Enron affiliate, Mariner Energy, and Pioneer  Natural
Resources each own 25%. King's Peak is wholly-owned and  operated by BP
Amoco. Camden Hills is operated by Marathon, with a  50% stake. Total
Exploration Production USA owns 16.67% and Pioneer  owns 33.3%. Aconcagua
will own 45%; King's Peak, 35%; and Camden  Hills 20% of the Canyon Express
pipeline.

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																	Slow browser ? Try? the speedy
																	searchable version at
																	http://www.enernetenergy.com  and click on the light bulb for Enerfax Daily -
Power and Natural Gas Pricing  & Articles and click the oil well for
																	Enerfax GOLD- Gas, Oil,
																	Liquids, & Derivatives' Pricing and  Articles

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																																	NYMEX Natural Gas Futures Reportable Positions as of  11/14/00

																																	10,000
MMbtu? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ?
?  ?Open Interest: 396,255

																																	? ? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ?
? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ? ?  ? ? ?
Non-Reportable? ? ? ?  ? ? ? ?Non-
Commercial? ? ? ? ? ?  ? ? ? ? ? ? ? ?  ?Commercial? ? ? ? ? ? ?  ? ? ? ?
Total? ? ? ? ?  ? ? ? ? ? ? ? ?  ?Positions

																																	Long? ? ?|? Short? |  Spreading? ? ? ? ? ? ?Long?  ?
|? ?Short? ? ? ? ?  ?Long? ? |? ?Short? ? ?  ? ? ? ? ?Long? ?|?  ?Short

																																	20,977?  ? 6,960? ? ?23,146? ? ? ?  ? ? ? 308,267? ?340,882? ? ?
352,390? ?370,988? ? ? ? ?  43,865? ? 25,267

																																	Changes From  11/07/00 (Change in Open Interest: 14,081)

																																	7,001? ? -2,359? ?  ? -1,952? ? ? ? ? ? ? ?  ? 2,343? ? ?15,938? ? ? ? ? ?  ?
? ? ? ? 7,392? ? ?  ?11,627? ? ? ? ? ?6,689?  ? ? 2,454

																																	Open Interest  for Each Category of Traders

																																	5.3%?  ? ?1.8 %? ? ? ?5.8%? ?  ? ? ? ? ? ? 77.8%? ?  ?86.0 %? ? ? ? ? 88.9
%? ?  ? ?93.6%? ? ? ? ?11.1%?  ? ?6.4%

																																	Number of  Traders in Each Category
																																	? ? 48? ? ?  ? ? ?12? ? ? ? ?
33?  ? ? ? ? ? ? ? ? ?  ? ? ?91? ? ? ? ?  ?86? ? ? ? ? ? ?
151?  ? ? ? ? ?122? ?  ?

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																																								Enerfax  Daily? -?  Page 7? -?  November 20, 2000

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																													(Continued from page 7)

																													undeveloped  frontier areas, he said. The highway route is being promoted by
Foothills Pipe Lines while Arctic Resources is promoting the  Beaufort Sea
route. The North Slope has natural gas reserves of over  35 Tcf, and many
believe the potential reserves could exceed 100  Tcf. Currently, oil
producers produce about 8 MMcf per day of  natural gas and re-inject almost
all of it into oil reservoirs to  build up pressure there and enhance future
recovery.

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																																		Financial Summary

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																												")} TC
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Attached please find this weeks summary of the most  recent CFTC Commitment of Traders Data for Natural Gas.

Thanks,
Mark

 - CFTC-NG-1-28-02.doc


-----Original Message-----
From: 	Laferla, Lynda
Sent:	Tuesday, February 19, 2002 6:50 AM
To:	Aldinger, William; Collins, Marion; Conklin, Jacob; Coon, Galen; Cooper, Tim; Cramer, James; Howard, Jack; Laferla, Lynda ; Phillips, Mary; Rivers, Cynthia
Cc:	Schoolcraft, Darrell; Matheson, Maggie; Betancourt, Ramona
Subject:	FW:  Enron voice message

 -----Original Message-----
From: 	Rivers, Cynthia
Sent:	Sunday, February 17, 2002 10:00 AM
To:	Laferla, Lynda ; Washington, Kathy
Subject:	 Enron voice message

> > http://www.witcity.com/enron/
>


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 03/22/2001
09:33 AM ---------------------------

Billy Lemmons@ENRON
03/21/2001 05:12 PM
To: John Sherriff/LON/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Robina
Barker-Bennett/LON/ECT@ECT, Richard A Causey@Enron, Joseph Deffner/HOU/ECT,
Andrew S Fastow/HOU/ECT, Kevin Garland/Enron Communications@Enron
Communications, Ken Rice/Enron Communications@Enron Communications, Eric
Shaw/LON/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT
cc:
Subject: Analyst/Associate Committee Meeting

I just wanted to confirm the first meeting of the Analyst/Associate Committee
on Monday, March 26 from 8:00-10:00 am in the 50th Floor Dining Room
(eb50m).  You will find an agenda for the meeting below, as well as
attachments containing a recent overview of the program by business unit, and
the results of an October 2000 survey of program participants.  This
information should help you prepare for our meeting.

Feel free to contact me at x36671 if you would like to discuss anything prior
to the meeting.  I look forward to working with each of you.

Regards,
Billy

__________________________________________
Meeting Agenda
March 26, 2001

I. Welcome and Introductions (John Sherriff)

II. Program Overview (Billy Lemmons)
  a. Business Unit Summary
  b. Program Survey

III. Discussion Topics (Group)
  a. Program Leadership
  b. Business Plan (Focus, Metrics)
  c.. Focus Areas (what's working / what's not...)
    - Culture / Location
    - Recruiting
    - Rotations
    - Orientation
    -  Training
    - PRC

IV. Next Meeting / Next Steps (Billy Lemmons)

__________________________________________
Attachments


David,

Doug asked me to get you a list of our top counterparties in ERCOT.  Below is our list:

Calpine
Dynegy
Mirant
Aquila
Constellation
El Paso
TXU
Reliant
ANP Marketing
FP&L
BP Amoco
LCRA
Morgan Stanley

Call me if you have questions.

Thanks
Jeff King (x37111)


Since Koch has told you that they sold the properties to Duke, I would say
that Duke should be paying us for the gas.

I had heard that Koch sold the properties to another counterparty, but I
wasn't sure to whom.  I either talked or left a message with someone in the
settlements area about two months ago about this after Koch informed the
trader that they should not be getting the invoices.  However, I never heard
back from anyone.

This is related to the CES acquisition which came online the first of this
year.  The deal info we had at the time had this sale booked to Koch.  I can
change the tickets in Sitara to the Duke counterparty (or create new tickets)
today if you need me to, so that we can get the invoice out the door.  You
will still need to coordinate with the contract group in getting the correct
contract in place for the deal.

D

Tina Valadez
10/10/2000 10:18 AM
To: Carlos J Rodriguez/HOU/ECT@ECT
cc: Kristen J Hanson/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT
Subject: Koch Midstream Services Co

I have been billing Koch Midstream Services Co under ENA for meters
LL-1-0030-Comitas (Sitara #144052) and LL-1-0027-Volpe (Sitara #144049).  My
former accounting contact at Koch, Michael Thomas, said that Koch sold these
south texas assets to Duke Energy Field Services back in 1999.  Michael faxed
a contract which I forwarded to Cindy Balfour Flannigan in the contract
area.  Cindy said she can't tie the deals in the contract to our system so
she can't recognize the assignment.  Cindy has left messages with Koch, but
she has not been able to resolve the issue.    Koch is refusing to pay for
the gas and there is currently over a million dollars outstanding relating to
these deals.  I need to find out whether Koch or Duke is responsible for
paying for this gas.  Do you have any information regarding this issue?

Thanks,
Tina Valadez
3-7548

---------------------- Forwarded by Tina Valadez/HOU/ECT on 10/10/2000 10:03
AM ---------------------------

	From:  Ami Chokshi @ ENRON                           10/09/2000 02:47 PM

To: Tina Valadez/HOU/ECT@ECT
cc:
Subject:

Tina,

With regards ti the Koch Midstream, you could talk to Daren Farmer about it.
Also, Carlos Rodriguez could help.

Ami


Looks ok to me.

GISB4@aol.com on 05/15/2001 11:17:46 AM
To:	Gisb@aol.com, GISB1@aol.com
cc:	Jrtemplton@aol.com, wboswell@mcguirewoods.com, shorton@enron.com, hdroberts@marathonoil.com, jcostan@mcguirewoods.com, jgomez@enron.com, jhb@8760.com, novakm@natfuel.com

Subject:	Draft GISB Review for Publication

To the Editorial Review Board,

Attached is the draft for the next issue of the GISB Review.  Please let me
know your comments, corrections or additions by close of business May 18 so
that we can send it to the printers for publication.

Thank you for all of your help.

Jo Ann Garcia
gisb4@aol.com

If you have difficulty retrieving this document, please call the GISB office
at (713) 356-0060.

(The GISB organization follows a privacy policy, which does not permit
distribution of contact information. If you are on a GISB distribution list
and would like to be removed, please email such request to the GISB office
and your email address will be removed. If you would like to add other
participants from your company to this distribution list, please also email
such request to the GISB office.)

 - spring01.wd.doc


It appears that it is time to do this again.  Thank you.
----- Forwarded by Dan J Hyvl/HOU/ECT on 10/17/2000 08:25 AM -----

	Parking & Transportation@ENRON
	10/13/2000 04:39 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc: Parking & Transportation/Corp/Enron@Enron
		 Subject: Parking Receipt for Benefit Purpose

This document will serve as a receipt for $89.00 paid in the month of October
for Parking.  The receipt is issued by Enron Property and Services, Parking
and Transportation Desk to HYVL,DANIEL J, Social Security Number
*********.  The company subsidy paid for the month of October is $50.00.


Jan, too, says that smurfit is not running the cogen and that they don't expect to for quite some time.  I asked her to let me know if they do decide to start the turbine.  Will keep you informed -

Kim


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/22/2000
09:36 AM ---------------------------

Pinnamaneni Krishnarao
11/22/2000 09:25 AM
To: David Draper/HOU/EES@EES
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: American type swaption calculations.

David:
 On #1, I would say the problem is not with the calculation part, but with
the market information, or lack thereof (i.e., illiquidity). The gas desk is
responsible for the supplying prices and volatilities. It is upto them to
decide how they want to account for illiquidy: change the bid/offer spreads
accordingly, or add hedging costs, or something else. And on the
correlations, they do matter but not as much as volatility or price. Since
these are correlations for the same underlying at the same location across
time, I think we can make some reasonable assumptions and compute them.

 Regarding #2, I don't agree with the concept of a market top. What the desk
does with the options is to hedge them. And the way to hedge them is hedge
teh delta and exercise the options optimally at the same time.

 Finally, I don't think we can use a 2-year swap as a proxy for a 10-year
swap. Longer term prices and volatilies are driven by the cost of production
and economic variables and their uncertainities. Those don't necessarily
reflect the shorter term issues.

Have a great Thanksgiving,
Krishna.

David Draper@EES
11/21/2000 02:00 PM
To: Pinnamaneni Krishnarao/HOU/ECT@ECT, Paulo Issler/HOU/ECT@ECT
cc:
Subject: American type swaption calculations.

Krishna/Paulo,

 Can you gentlemen do me a favor and read the attached memo written by Eugene
and give me your opinion ? Thanks. Hope you have a great Thanksgiving weekend.

---------------------- Forwarded by David Draper/HOU/EES on 11/21/2000 01:58
PM ---------------------------

Eugene Zeitz
11/21/2000 09:34 AM
To: David Draper/HOU/EES@EES
cc:
Subject: American type swaption calculations.

Hi, Dave:

Here's a write-up on our problems with American style options.

          Thanks.

             Eugene.


sorry  i forgot to attach my draft memo to my earlier e-mail - duh hate when
i do  that!
?
here  it is again, but now revised to reflect your e-mail comments sent
around today  (accurately i hope)
?
look  forward to discussing with all at 7:30
-  cv
?
?
?

Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont  Street
San Francisco, CA? 94105

phone: 415-783-5137
fax: 415-783-8760
e-mail:  cvavrek@deloitte.com
-----Original Message-----
From: Anil Sama  [mailto:asama@yahoo.com]
Sent: Wednesday, February 07, 2001 11:14  AM
To: Mark Guinney; Jeff.Dasovich@enron.com;  cvavrek@deloitte.com
Cc: chin@haas.berkeley.edu;  sama@haas.berkeley.edu
Subject: Re: Re[2]: HD Case: Proposed  Plan

All,

I was thinking along similar lines - HD should moderate growth in  the
coming year - only invest in opening 2-3 new stores in locations with  the
highest estimated ROI, or perhaps those that are?the most  complete
(since there is some construction in progress already) to reduce  any
incremental expense.?
Focus instead on improving operating  efficiencies which have been
steadily deteriorating to increase investor  confidence/stock price.
Then expand via another public offering at a later  date.?

Sarah had asked in class to look?into whether HD was  going to be
able to make payroll in the coming year. I tried to do this  assuming no
expansion (freeze all construction in progress). Using Mark's
spreadsheet and backing out the new store acquisition
costs, and  reducing inventories that would have been part of the
new stores, this  still leaves a cash need from financing
of $25.8 mil in order to meet  operational needs. So they?are going to
need to tap into credit lines  for at least this amount regardless.

I will be in class tonight. If you have a conf call, could we do it  at
7:30? If we do, please send across details before 5PM, or else
you  can just leave me a voice mail on my cell at 916 600 1245
and I'll retrieve  it during break...

-Anil

? Mark Guinney <Mark_Guinney@watsonwyatt.com>  wrote:
Jeff,  I assume you can coordinate a conference call from work. Call me at
home:
415-388-2548.

Excellent points and I was thinking along  similar lines. Questions I have:

How do you know that LT debt gives  more advantageous terms? We have no yield
curve info nor do we know their  credit rating.
At what point does their borrowing exceed their  covenents?
Is our strategy to not raise the required $66million or to  stop/slow PPE
spending so that the $66m is not  needed?

**********************************************
Mark  D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345  California Street, Ste. 1400
San Francisco, CA 94104
(415) 733-4487  ph.
(415) 733-4190 fax

____________________Reply  Separator____________________
Subject: Re: HD Case: Proposed  Plan
Author: Jeff.Dasovich@enron.com
Date: 02/07/2001 11:25  AM

Hi folks:

Since we have only one page, the write up for  number 4 will have to be very
brief. Before writing it, though, I wanted  to offer a few bullets
regarding what angle we might take, and let folks  respond, comment,
counter, etc. before writing it up. I'll clean and beef  up once we've
agreed to the approach we'd like to take to question #4.  Finally, I can
work from my office on this this evening, which means that  I can use the
conference call capability of my office phone to patch  everyone in if we'd
like to do a conference call. If that's what folks  would like to do, I'd
prefer to do the call at around 7 PM. Just let me  know.

Best,
Jeff

The question for #4 is:

Stock price  is down 23%, significant debt has already been tapped to
support massive  growth and covenants on that debt restrict taking on a lot
more  debt.

What should HD do w.r.t. current operations and future growth  strategy?
In the near term focus less on growth and more on getting  margins and
EBIT growth back in line with results from previous years.  (Management's
Letter to Shareholders alludes to this, but it's difficult  to determine
whether management is just paying lip service to the need to  capitalize on
the growth spurt and grown earnings, or continue on the  growth effort.)

With respect to funding future (more moderate  growth), the company
does have some room to increase long-term debt  (e.g., current ratio for
1986 = 2.26). It seems that HD would get better  terms and have increased
flexibility by issuing additional debt rather  than relying on lines of
credit. As such, HD ought to look those sources  of funding and fill in any
"funding gaps" with funds from the line of  credit.

Given the significant drop in stock price, HD is likely  better off in
the near term 1) moderating growth, 2) improving  performance to generate
cash internally, and 3) using long-term debt  issuance to provide the funds
needed. Once performance and stock price  improves, then HD should consider
a stock issuance.

How can  company improve operating performance?
Reduce selling, store operating  expenses and pre-opening expenses
Improve receivables turnover
Improve  inventory turnover
Improve per store/sales
Consider closing  poor-performing stores
All of which will improve margins

Should  company change its strategy? If so how?
Shift from meteoric growth to  moderate, targeted growth, and focus on
generating positive cash flow  from operations
Focus on improving performance at existing stores;  specifically focus on
controlling costs and asset turnover and  productivity
Consider another debt issuance rather than rely extensively  on credit
line in order to decrease cost of funds and increase  flexibilit

Do You Yahoo!?
Yahoo!  Auctions - Buy the things you want at great  prices.
 - home depot memo.doc


Naomi

Shona Wilson suggested that you may be able to assist with the following
request for information. We are having to make some filings with the CFTC
arising out of the acquisition and change of names of the MG entities.
Specifically we are advised that , we will need to supply a corporate chart
showing the relationship with all previous MG entities and Enron Corp. We
will also need to provide a brief description of the acquisition itself.

Apologies for the short notice, but the filing will need to be made on or
before 25 November and we will need to conduct a full review with external
counsel to ensure that the correct filing is made.

If you need to speak to me my number is 713 345 8161.

Kind regards

Marcus

	Enron Europe

	From:  Naomi Connell @ ECT                           11/07/2000 01:04 PM

To: Shona Wilson/NA/Enron@ENRON
cc: Alan Aronowitz/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Justin
Boyd/LON/ECT@ECT, Tim Davies/LON/ECT@ECT, Sherri Griffin/Corp/Enron@Enron,
Donna Lowry/HOU/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT, Tina
Ward/LON/ECT@ECT, Marcelo Parra/NYC/MGUSA@MGUSA

Subject: Re: st louis and chicago reports

Please note that there is a global review of Agency agreements that is going
on for the entire metals structure at this stage.  It is totally linked with
the tax structuring for metals that is being undertaken.  The resolution to
this issue will therefore depend on the tax department's timing.  Tina Ward
is heading up this intiative.

Many thanks

Naomi

	Enron Capital & Trade Resources Corp.

	From:  Shona Wilson @ ENRON                           07/11/2000 16:52

To: Alan Aronowitz/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Justin
Boyd/LON/ECT@ECT, Naomi Connell/LON/ECT@ECT, Tim Davies/LON/ECT@ECT
cc: Sherri Griffin/Corp/Enron@Enron, Donna Lowry/HOU/ECT@ECT, Tim
Poullain-Patterson/LON/ECT@ECT

Subject: st louis and chicago reports

As requested, here are the reports for St. Louis and Chicago.  You will note
that you have been named as one of the owners - person responsible to fix the
finding.  Please call me if you have questions.

Tim - Will you liase with Sam and Achim?

Thanks,

Shona


double click on the underlined website at the bottom
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 11/27/2000
12:16 PM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Ross Prevatt/HOU/ECT on 11/13/2000 01:08
PM ---------------------------

Charles H Otto
11/13/2000 01:03 PM
To: Ross Prevatt/HOU/ECT@ECT
cc:
Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Charles H Otto/HOU/ECT on 11/13/2000
02:01 PM ---------------------------

Chris Gaskill@ENRON
11/13/2000 12:35 PM
To: Charles H Otto/HOU/ECT@ECT, Tara Piazze/NA/Enron@ENRON
cc:
Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Chris Gaskill/Corp/Enron on 11/13/2000
12:35 PM ---------------------------

Marc Bir <marc@delphihome.com> on 11/13/2000 12:29:45 PM
To: Chris.Gaskill@enron.com
cc:

Subject: Fwd: Election concession & retraction parody. Has good audio also.

><http://www.mediatrip.com/shows/phone_flash.html
>http://www.mediatrip.com/shows/phone_flash.html


FYI.  In its letter to the Commission, Edison estimates that, as of 09.20.01, 13-16% of its load will be DA.

Best,
Jeff

-----Original Message-----
From: Dasovich, Jeff
Sent: Wednesday, October 10, 2001 12:08 PM
To: Dasovich, Jeff; Mara, Susan; Williams, Robert C.; Smith, Mike;
Smith, Mike; Wu, Andrew; Steffes, James D.; Kaufman, Paul; Kingerski,
Harry; Blachman, Jeremy
Subject: FW: DIRECT ACCESS SUSPENSION LETTER

FYI.  Utility recent submissions to PUC regarding DASR process under 09.20.01 DA suspension.

Best,
Jeff
-----Original Message-----
From: JBennett [mailto:JBennett@GMSSR.com]
Sent: Wednesday, October 10, 2001 11:41 AM
To: Jeff Dasovich (E-mail); Sue Mara (E-mail)
Subject: FW: DIRECT ACCESS SUSPENSION LETTER

-----Original Message-----
From: Jennifer.Tsao@sce.com [mailto:Jennifer.Tsao@sce.com]
Sent: Tuesday, October 09, 2001 11:24 AM
To: pxo2@pge.com; PSzymanski@sempra.com; 'Dian M. Grueneich'; JBennett
Subject: DIRECT ACCESS SUSPENSION LETTER

Below is a copy of the letter that SCE sent to the Energy Division last
Thursday.

Peter/Paul -- Can you forward me a copy of what PG&E and SDG&E sent as
well?  Thanks.

Jennifer M. Tsao
Senior Attorney
Southern California Edison
G.O. 1, Room 345
phone:  626-302-6819
fax:  626-302-2050
----- Forwarded by Jennifer Tsao/SCE/EIX on 10/09/01 11:01 AM -----

                    Jeanne Smith

                                         To:     Jennifer Tsao/SCE/EIX@SCE

                    10/09/01             cc:

                    10:21 AM             Subject:     DIRECT ACCESS
SUSPENSION LETTER

 (Embedded
 image moved   (Embedded image moved to file: pic22208.pcx)
 to file:
 pic09399.pcx)  FOR INTERNAL USE ONLY

(See attached file: 10-4-01 DA Suspension Ltr (E-mail).doc)

Jeanne Smith
Southern California Edison
San Francisco Office
(415) 929-5514 / PAX 2-6714
Fax: (415) 673-1116


Cameron will definately have to work, but I could certainly come up and
help. If she'll let me, that is.... I agree that tidying up is in order.
It's starting to look overgrown and unused, so I'll do anything I can to
help. Let me break the news to Cameron and I'll get back to you...

>From: Jeff.Dasovich@enron.com
>To: scottwl@hotmail.com
>Subject: Memorial Day
>Date: Wed, 16 May 2001 13:06:53 -0500
>
>The place (outside) is a mess and needs some clean-up (e.g., get all that
>old wood out of the front yard, whack down the weeds).  Possible for you
>guys to come up next Wednesday night and we can do a quick clean up on
>Thursday.  I'm going to try to hire a hauling company to help us and haul
>it away.  If Cameron has to work are you available?
>
>Best,
>Jeff
>

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


FYI
----- Forwarded by Richard B Sanders/HOU/ECT on 05/31/2000 05:39 AM -----

	Darren P Adamik
	05/26/2000 10:05 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 bcc:
		 Subject: Tape Archive

FYI...

Jeff Shankman and Fred Lagrasta are trying to change Enron's Tape Retention
Policy from four months to forever on a number of individuals in their
group.  Due to the inner workings of our recording system, selective tape
retention is impossible.  It is a all or none type of situation.  Please
review this email and our current Tape Retention Policy and decide what
course of action is needed.  As you know this email is not enough to
permanently stop the company's retention policy.  A new policy would need to
be drafted and signed by John Lavorato and yourself before this could occur.

If you have any questions, please call me at 853-4764

Regards,
Darren Adamik
Mgr.-Trading Technology

---------------------- Forwarded by Darren P Adamik/HOU/ECT on 05/26/2000
09:32 AM ---------------------------

Barbara Lewis
05/26/2000 07:49 AM
To: David A Cummings/HOU/ECT@ECT, Darren P Adamik/HOU/ECT@ECT, Ben
Hill/HOU/ECT@ect
cc:
Subject: Tape Archive

---------------------- Forwarded by Barbara Lewis/HOU/ECT on 05/26/2000 07:45
AM ---------------------------

Barbara Lewis
05/26/2000 07:46 AM
To: Darren P Adamik/HOU/ECT@ECT, David A Cummings/HOU/ECT@ECT, Ben
Hill/HOU/ECT@ect
cc: Jeffrey A Shankman/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT
Subject: Tape Archive

Per Jeff Shankman-
The attached document reflects the ENA Gas Risk Management & Middle Marketing
Groups.
Everyone who appears on the list has a recorded line.  I am aware that all
tapes are destroyed
after a certain time period; however, it is imperative that these particular
tapes are never destroyed.

Please archive these tapes in a secure location.
If additional information is needed please contact me @ x3-5085.

Many thanks,
Barbara Lewis


This model has 20,881 withdrawal from Bear Creek so that 20,500 gets delivered.

Discard previous version.

Thanks

Louis R. DiCarlo
ENA Gas Structuring
Phone: 713-345-4666
Email: louis.dicarlo@enron.com


When: Friday, April 20, 2001 1:00 PM-2:00 PM (GMT-06:00) Central Time (US &
Canada).

*~*~*~*~*~*~*~*~*~*

Please note that today's call has been rescheduled to 1:00 CST.  I told Paul
Hastings to dial in using the usual Sprint conference call number.

Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.


Attached are the final version of Enron Freight Markets gtc's for EOL products, approved by the legal department.

This is slightly different from the "final" version I sent you both on Monday, Oct. 22.  Chris Kravas had some last-minute comments.  Sorry for the confusion -- Bob

Robert E. Bruce
Senior Counsel
Enron Wholesale Services
T (713) 345-7780
F (713) 646-6058


would you have any interest?

---------------------- Forwarded by Greg Whalley/HOU/ECT on 06/12/2001 06:02
PM ---------------------------
From: Basil Karampelas/ENRON@enronXgate on 05/29/2001 11:55 AM
To: Greg Whalley/HOU/ECT@ECT
cc:

Subject: Resume of Randy Balhorn

Greg - here is Randy's resume. He is the guy I was telling you about on
Friday as we were walking out of the building. I think he could make Enron a
lot of money.

Basil


no changes

	Julia H Chin@ENRON
	09/25/2000 02:06 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject:

hi sara -- hope you had a good time in louisiana over the weekend!

i managed to lose my voice so i can only communicate by email for the time
being.  could you confirm that you have no changes to the enron agreement or
send me a mark-up?  if you want to give the changes to me verbally, i could
probably have a legal assistant help me ask you questions if i need to.
please let me know.

many thanks.


FYI, this is typical CCSI.
---------------------- Forwarded by Barton Clark/HOU/ECT on 12/06/99 07:47 PM
---------------------------

"Evans, Peter" <PEvans@mv.catalytica-inc.com> on 12/06/99 06:14:36 PM
To: Chris Holmes/HOU/ECT@ECT, Brad Nebergall/HOU/ECT@ECT, Barton
Clark/HOU/ECT@ECT
cc: "Orwig, Dennis" <DAO@mv.catalytica-inc.com>, "Briscoe, Larry"
<LWB@mv.catalytica-inc.com>
Subject: RE: Latest Option Repurchase Agreement Catalytica7d.DOC

Thanks for sending me the document I requested.

I spoke with Locke Liddell & Sapp. As of 5:30 Houston time they had not
spoken live with ENA legal, but had exchanged non-substantive messages. Chip
Rainey is available tomorrow and will continue to try to reach ENA.

We did discuss Locke Liddell & Sapp's markup in more detail. I now believe
the upshot of their conversation with ENA legal will be that any issues are
minor.

Peter Evans

> -----Original Message-----
> From: Chris Holmes [SMTP:cholmes@ect.enron.com]
> Sent: Monday, December 06, 1999 10:17 AM
> To: pevans@mv.catalytica-inc.com
> Cc: Brad Nebergall; Barton Clark
> Subject: Latest Option Repurchase Agreement Catalytica7d.DOC
>
>
>
> Peter- per  your request, here is  version of the option repurchase
> agreement
> you reviewed with  Bart on the morning of December 3--  we have not yet
> made
> changes reflecting that review.
>
> Chris
> ---------------------- Forwarded by Chris Holmes/HOU/ECT on 12/06/99 12:02
> PM
> ---------------------------
>
>
> Barton Clark
> 12/06/99 11:10 AM
>
> To:   Chris Holmes/HOU/ECT@ECT
> cc:
> Subject:  Latest Option Repurchase Agreement Catalytica7d.DOC
>
>
> ---------------------- Forwarded by Barton Clark/HOU/ECT on 12/06/99 11:10
> AM
> ---------------------------
>
>
> "Lum, Nancy" <nlum@mdbe.com> on 12/03/99 12:46:05 PM
>
> To:   Barton Clark/HOU/ECT@ECT
> cc:
> Subject:  Catalytica7d.DOC
>
>
>
>  <<Catalytica7d.DOC>>
>  << File: Mac Word 3.0 >>


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/11/2000
09:39 AM ---------------------------

"Vadim Pokhlebkin" <vpokhleb@ideaus.com> on 04/11/2000 09:17:50 AM
To: <Vince.J.Kaminski@enron.com>, <vkamins@enron.com>
cc:
Subject:

Dear Vince,

Once again, sorry to have missed you at your office this morning.  Have you
heard any feedback about our research from your colleagues?  I really hate
to bother you with this.  Please let me know whom I may contact: that will
save you from forwarding our reports to them daily.

As usual, attached are today's issues of our daily morning faxes:
1. Financial Markets Today - FX majors and key bond markets' analyses.
2. Fixed Income Today - US treasuries, agencies, and corporates' analyses,

Best regards,
Vadim Pokhlebkin
Account Manager
vpokhlebkin@ideaglobal.com
tel. + 1 212 571 4332
fax  + 1 212 571 4334

IDEAglobal.com
140 Broadway, 21st Floor
New York, NY 10005, USA

Any views expressed in this message are those of the individual sender,
except where the sender specifically states them to be the views of
IDEAglobal.com. This email, its content and any files transmitted with it
are intended solely for the addressee(s) and may be legally privileged
and/or confidential. Access by any other party is unauthorized without the
express written permission of the sender. If you have received this email in
error you may not copy or use the contents, attachments or information in
any way. Please destroy it and contact the sender via the IDEAglobal.com
switchboard in one of the following three offices: New York +1 212 571 4332;
London +44 171 430 2888; Singapore +65 332 0700

 - FMT0411A.pdf
 - FIT1104A.pdf


Isn't our primary problem with AEP's internal merchant function rather than
with the marketing affiliate (I realize we have problems with the affiliate
too)?  Can we protest continued market based rate authority for AEP until
they have surrendered native load priority?

	Christi L Nicolay@ECT
	09/25/2000 09:16 AM

		 To: David W Delainey/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Ozzie
Pagan/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Dennis
Benevides/HOU/EES@EES, Raymond Bowen/HOU/ECT@ECT
		 cc: James D Steffes/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@Enron, Steven J Kean/NA/Enron@Enron
		 Subject: EPMI protests AEP's continuation of MBRs

On 9/21, EPMI filed a protest (Below) against AEP/CSW's 3 year update request
to continue market based rates for power marketing.  The filing includes
examples of discriminatory behavior on OASIS (for ATCs, etc.) that
potentially benefitted AEP's marketing side.

EPMI has already protested Entergy's request for continuation of MBRs earlier
this year, and plans to protest other large utility-based power marketer MBR
filings this fall.  Let me know if you would like the list.  Thanks.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 09/25/2000
08:58 AM ---------------------------

"Susan Buchheit" <sbuchheit@bracepatt.com> on 09/25/2000 09:05:19 AM
To: <christi.l.nicolay@enron.com>
cc:

Subject: AEP filing

** High Priority **

Christi -

Attached is the final filing in word.  I also sent you a hard copy on Friday.

 - aep.doc