----- Forwarded by David M Gagliardi/TTG/HouInd on 10/18/01 08:59 AM -----

                    "Gagliardi,
                    Michael"             To:     "'dgagliardi@reliantenergy.com'" <dgagliardi@reliantenergy.com>
                    <mgagliardi@un       cc:
                    ocal.com>            Subject:     FW: True Orange E-Mail/Fax #102

                    10/18/01 08:54
                    AM

> -----Original Message-----
> From:         TruOrange@aol.com [SMTP:TruOrange@aol.com]
> Sent:         Wednesday, October 17, 2001 10:10 PM
> To:           TruOrange@aol.com
> Subject:           True Orange E-Mail/Fax #102
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #102, Wednesday, October 17, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Tyler DB Melton is 16th Cimmitment; DE Thornton Will Start Saturday
>
> Tyler DB Matt Melton, 5-11, 190, 4.43, told me tonight he committed to
> Texas
> earlier in the day "because I knew I wanted to stay in state and, after
> visiting A&M and Texas (unofficially), I just like Texas better."
> Melton, who has 40 tackles and two interceptions so far this year, said
he
>
> had offers "from about 15 or 16 schools, including Texas, A&M, Purdue,
> TCU,
> Baylor and West Virginia."
> Melton is the 16th recruit to commit to Texas. He is a member of my
> Fabulous
> 50.
> The other recruits who have committed to Texas include nine recruits who
> are
> listed on one or more national top 100 teams. They are  WR Marquis
> Johnson,
> 6-3, 200, 4.48, of Centennial High School in Champaign, Illinois;  DE
> Chase
> Pittman, 6-5, 263, 4.7, of Shreveport Evangel; LB Garnett Smith, 6-3,
221,
>
> 4.54, of Arlington Lamar, DTs Sonny Davis, 6-1, 320, 5.0, of Gulf Coast
JC
> in
> Mississippi and formerly of Austin Lanier, Earl Anderson, 6-4, 270, 4.8,
> of
> San Marcos, Lyle Sendlein, 6-4,  260, 4.8, of Scottsdale Chaparral, the
> two-time defending Class 4A champion in Arizona;  OLs  Brett Valdez, 6-4,

> 310, 5.1, of  Brownwood and Neale Tweedie, 6-5, 260, 4.9, of Allen;  and
> TE
> David Thomas, 6-3, 210, 4.6, of Wolfforth Frenship;  Davis made all of
the
>
> top national lists last year.
> The other Longhorn pledges are DT  Tully Janszen, 6-4, 255, 4.78, of
> Keller;
> LBs Brian Robison, 6-3, 245, 4.6, of Splendora and Marcus Myers, 6-3,
220,
>
> 4.5, of Pflugerville Connally;   WR Dustin Miksch, 6-0, 165, 4.4, of
Round
>
> Rock Westwood;  QB Billy Don Malone, 6-2 1/2, 185, 4.7, of  Paris North
> Lamar, and  RB/Ath Clint Haney, 5-11, 190, 4.27 of Smithson Valley.
> * * * *
> DE Kalen Thornton, who missed the OSU game with a knee sprain, is
> practicing
> again this week and defensive coordinator Carl Reese said he will start
> Saturday, with Maurice Gordon moving back to DT. Reese also said
sophomore
>
> Adam Doiron, who started at tackle against OSU in Gordon's place, played
> well
> against the Cowboys and will see a lot of action against Colorado.
> He also said redshirt freshman Stevie Lee "has had his best two days of
> practice" this week and also will play at DT. Lee is under 300 pounds
now.
> He
> reported at about 310 because he was recovering from a broken bone in his

> foot that required surgery and wasn't able to run and work out as much as

> usual.
> DE O. J. McClintock, who has been out all year after suffering severe
cuts
> to
> his right arm and hand in a household accident before the season, also is

> expected to play Saturday.
> Reese said the Longhorn will need lot of defensive linemen to step up
> Saturday because Colorado "just lines up and tries to run over you play
> after
> play."
> * * * *
> The Longhorns' game at Missouri next Saturday will have a 2:30 p.m.
> kickoff
> and UT officials say it will be available in Texas on pay-per-view TV,
but
>
> they said they are still working out the details. It was passed over for
> regular TV programming, so pay-per-view is the only way fans who can't
> attend
> will be able to see it.
> * * * *
> RECRUITING NOTES: DE Bryan Pickryl, 6-5, 230, 4.5, of Oklahoma powerhouse

> Jenks, plans to come to the Texas-Colorado game this weekend. He said
> Texas,
> Missouri and Oklahoma are his top three teams, but he also said he is
> considering several other schools fairly seriously. His maternal
> grandmother
> lives in Austin and he also has two uncles in the Austin area., so he has

> spent some time in this area. . . DT Earl Anderson of San Marcos says he
> is
> solidly committed to Texas and says he is being misquoted by people who
> say
> he plans to take visits to other schools. . . WR Robert Timmons of Flower

> Mound Marcus was held out of last week's game after missing school and
> reporting he was sick. FM coach Randy Mayes said he isn't sure if Timmons

> will play this week. "It depends on whether he misses any more school or
> practices," he said. Timmons is a great football prospect, and is by far
> the
> best WR in Texas, but he has had some disciplinary problems and it seems
> they
> are continuing. But, as Mayes said, maybe he really was sick.
> * * * *
> My next e-mail/fax will be whenever events warrant.
> * * * *
> The True Orange E-Mail/Fax Service includes  at  least  99 fax/e-mails  a

> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail  or $99 if you take
> both
> services via E-Mail). Send check  to address at the top of page. I also
> update my 900 number - 1-900-288-8839 - daily with recruiting news. My
> E-Mail address is: truorange@aol.com.


Technical issues

1) When some of the members of the chat room begin to talk, their microphone
volume starts to trail off.

2) Many of the users use the ctrl button in their daily activities.  The talk
button needs to be changed to an F# key.

3) We have trouble with latency.

Please contract Brent Tiner to help with these issues.

Thank You
Hunter


Kevin,

I thought we agreed to take these reserves since EOL lacks the pricing capability for longer dated transactions.  If you want we can restrict trading to 36 months on EOL and approve long-dated transactions on a one-off basis to insure our counterparty positions remain somewhat balanced.

Please advise,
Bill

 -----Original Message-----
From: 	Sacks, Edward
Sent:	Monday, October 08, 2001 3:29 PM
To:	Presto, Kevin M.
Cc:	Bradford, William S.
Subject:	RE: PG&E Energy Trading - Power, L.P.

You and I had agreed to the structure below for '04 and '05 transactions.  We are not taking credit reserves to the extent the trades are offsetting.  Since '04 is rolling off shortly, we should review the EOL needs for East Power and again come to agreement on the pricing structure.  Let me know when you would like to do so.

Ed

	Peak				$0.10 for '04 & '05	(vs $0.17 for '05)
	Peak Cal Spreads		$0.06
	Peak Basis			$0.04 (assumed correlation of 95%)
	Off Peak			$0.03
	Off Peak (basis or spreads)	$0

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Monday, October 08, 2001 11:46 AM
To:	Sacks, Edward; Hardy, Trey; Evans, Casey; White, Stacey W.; Vinson, Donald Wayne; Sturm, Fletcher J.
Cc:	Bradford, William S.; Ngo, Tracy; Buy, Rick; Rohauer, Tanya; Reasoner, Monica; Brown, Kortney
Subject:	RE: PG&E Energy Trading - Power, L.P.

There should be no credit on a TVA/Cin spread.   The correlation between the 2 markets is 95% plus.

 -----Original Message-----
From: 	Sacks, Edward
Sent:	Monday, October 08, 2001 9:23 AM
To:	Hardy, Trey; Evans, Casey; Presto, Kevin M.; White, Stacey W.; Vinson, Donald Wayne; Sturm, Fletcher J.
Cc:	Bradford, William S.; Ngo, Tracy; Buy, Rick; Rohauer, Tanya; Reasoner, Monica; Brown, Kortney
Subject:	PG&E Energy Trading - Power, L.P.

Please note the following addition to the domestic credit reserve for October 2001:

CP:  PG&E Energy Trading - Power, L.P.
Deal No: 806688 & 806689
EOL No: 1972890 & 1972891
Deal Date:  10/5/2001
Deal Specifics:  Sale / Buy (Basis)
Term:  1/1/2005 thru 12/31/2005
Volume:  50 MW/h Peak
Delivery Points:  Cinergy / Into TVA
Trader:  Fletch Sturm
Credit Reserve Amount:  $8,000 (eight thousand US dollars)

CP:  PG&E Energy Trading - Power, L.P.
Deal No: 806685 & 806686
EOL No: 1972884 & 1972885
Deal Date:  10/5/2001
Deal Specifics:  Sale / Buy (Basis)
Term:  1/1/2004 thru 12/31/2004
Volume:  50 MW/h Peak
Delivery Points:  Cinergy / Into TVA
Trader:  Fletch Sturm
Credit Reserve Amount:  $8,000 (eight thousand US dollars)

Comments or questions, please reply.

Ed Sacks


I'm going to reserve it tomorrow and see if we can get AIA to fund it.  If
not, we will figure out a way...

How is your Thursday and Friday for a meeting with Peter?  He is available
Thursday 11-2 and Friday 2-5.  I think we will need about a hour.

> -----Original Message-----
> From:	Jeffrey.A.Shankman@enron.com [SMTP:Jeffrey.A.Shankman@enron.com]
> Sent:	Tuesday, November 13, 2001 6:02 PM
> To:	CStrauss@mfah.org
> Subject:	RE:
>
> I think we just buy it.  ask max if he has another for me!
>
> jeff
>
>     -----Original Message-----
>    From:   CStrauss@mfah.org@ENRON
>    Sent:   Tuesday, November 13, 2001 5:59 PM
>    To:     Shankman, Jeffrey A.
>    Subject:
>
>    Jeff:
>
>    Thanks again for all of your help today.  It was a great meeting!
>
>    I forgot to tell you as we were walking out.  The price for the Bel
>    Geddes
>    Skyscraper Cocktail service is $7500.  Based on my preliminary price
>    checks
>    (so far) it seems fair and certainly less that the boys would charge.
>    What
>    do you think?  I am of half a mind to call the boys and find out what
>    they
>    would be asking but I think that it would tip our hand....
>
>    cindi
>
>    Cindi Strauss
>    Associate Curator Decorative Arts and Rienzi
>    Museum of Fine Arts, Houston
>    P.O. Box 6826
>    Houston, Texas 77265-6826
>    713-639-7349
>    713-639-7399 (fax)
>    cstrauss@mfah.org
>
>
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate
> and may contain confidential and privileged material for the sole use of
> the intended recipient (s). Any review, use, distribution or disclosure by
> others is strictly prohibited. If you are not the intended recipient (or
> authorized to receive for the recipient), please contact the sender or
> reply to Enron Corp. at enron.messaging.administration@enron.com and
> delete all copies of the message. This e-mail (and any attachments hereto)
> are not intended to be an offer (or an acceptance) and do not create or
> evidence a binding and enforceable contract between Enron Corp. (or any of
> its affiliates) and the intended recipient or any other party, and may not
> be relied on by anyone as the basis of a contract by estoppel or
> otherwise. Thank you.
> **********************************************************************


Tomorrow is the first Thursday of the month and time for the Bayou City
Tigers to meet. Join us at Arcadoro's from 6:00 PM to 7:30 PM to socialize
with other Mizzou grads. The food is great and the company cannot be beat!
The address is 5000 Westheimer. This is the corner of Westheimer and Post
Oak (the NW corner of the intersection). It is located below Morton's
Steakhouse and valet parking is complementary.

If you need further directions or have any questions about our get
together, please feel free to check out the web site at
http://users.netropolis.net/bayoucitytigers/ where you can locate
information on our chapter and its activities.

The Bayou City Tigers will have a new location for Casual Conversations in
January and a different day of the month. A Founder's Day celebration in
February in concert with a Watch Party. We want to invite prospective new
Mizzou students as well. If you need information, please feel free to call
any of the Board of Directors (phone numbers are on the web site) or email
me. We will do a mailer as well but ask for your help in calling all of
the alumni in our area to get the word out.

A suggestion or feedback is always welcome. Hope to see you Thursday.

Bob Hanson, BSBA '75
mutigers@swbell.net

This message is brought to you by the MU Alumni Association in an effort
to better inform our alumni of Mizzou events.

If your address has changed or you prefer not to receive email
notifications, please contact the MU Alumni Association at
muaa@mizzou.com or (800) 372-6822.

Become a registered user of the MU Alumni Association website. Only MUAA
members may register to access our online directory, post class notes and
business cards. Register now at: http://www.mizzou.com/firsttimeuser.htm


mom said you weren't feeling well.  i just wanted to send you an email to see
how you are doing.  i hope you feel better.  hopefully you will be able to
make it to denver.  this should make you feel better, i am still terrible at
golf.  i shot a 100 the other day, so i think you can still take me.  i will
be in vegas this weekend for a bachelor party but i will try to call next
week.


NEW CORPORATE PLAYER IN THE INDUSTRY AGAINST CYBER-TERRORISM   [IMAGE]  IMMEDIATE BUY RECOMMENDATION Initiating Research Coverage   Merilus Inc.    Symbol: MERH Shares Outstanding: 13.2 million Share Price: $1.90 Market Capitalization: $25 million 52 Week Hi/Low: $8.50/$0.45 Estimated Public Float: 2 million shares  Developed over the last four years, Merilus has recently started marketing the latest and most advanced computer security products targeted for small to medium businesses.   This market has been, and is projected to be, one of the fastest sectors in technology, largely unaffected by the current weakness in the market.      THE PROBLEM AND OPPORTUNITY A Computer Security Institute and FBI survey showed 90% of large organizations detected breaches into their computing systems.  74% of these organizations acknowledged financial losses.  Price Waterhouse estimated this loss to be about $40 billion last year.  The estimated number of computer attacks doubled last year according to the Emergency Response Team at Carnegie Mellon University.  International Data Corp. (IDC) predicts the compounded annual growth rates of digital security revenues will continue at over 88% per year over the next 5 years.    Merilus' products target small to medium businesses, a particularly fast growing segment of the overall security market, which has been underserved by the major security manufacturers.  IDC estimates the small to medium business percentage of the total internet security software market will increase from the current 43% to about 70% by 2004. In terms of dollars, this means companies with fewer than 1000 employees could spend about $7.4 billion on security in 2004.  We strongly feel Merilus is focusing on the right market, at the right time.   MERILUS SOLUTIONS Merilus' computer software and hardware products represent major innovations, which protect against computer information theft from hackers and others both outside and within the business.  Their recently introduced FireCards are the world's first network security system and firewall (controlling who can access what type of data) that easily inserts into the standard PCI slot inside the computer. It is a computer within the computer allowing for remote updating of new innovations and security measures to ensure sensitive data is protected as well as transmitted in a secure manner.   Industry reviews have given the new products high ratings.  Secure Computing Magazine gave the FireCard a five out of five star rating and The Tech Zone awarded a 9.5 out of 10 score.  NASA and Lockheed Martin are just a couple of the sophisticated organizations that have started using Merilus products.  Even though Merilus and its products are relatively new to the market place we feel they will also have good acceptance because they are extremely price competitive.  Management will strive to maintain its current 2:1 cost/feature ratio, where products are either half the price of competitors for the same functionality or twice the functionality for the same price.  Manufacturing of the products is contracted out to keep capital and inventory costs down and flexibility up.   THE ROLLOUT Over the summer, after rigorous testing in Compaq's labs, Merilus has become a member of the Compaq Solutions Alliance, allowing installation of products into Compaq computers. Merilus recently announced they have partnered with the three largest distributors in North America: Ingram Micro, Tech Data and EMJ.  Last week Merilus announced its Reseller Program, which provides marketing and technical support as well as substantial rebates to vendors selling Merilus' suite of computer security products.   MANAGEMENT Dana Epp, President of Merilus started writing commercial security monitoring software at the age of 14 and authored the book Computer Security Concepts, Managing Business Threats in a Wired World.  Merilus has attracted a number of credible and notable Board members such as John Connally, son of the former US Treasury Secretary, John Paul DeJoria, Chairman of John Paul Mitchell Systems.   FINANCIALS and PROJECTIONS Two companies established in this industry are SonicWall (SNWL) and Watchguard Technologies (WGRD).  Over the last couple of years these two companies have enjoyed approximately 100% annualized revenue growth.  Analyst's consensus (Thompson Financial) is that they will have sales growth next year of about 50% and 40%, respectively. Merilus is in the process of raising $3 million in a Private Placement to power its marketing initiatives, increase inventory and to strengthen its balance sheet.  Management and its financiers expect to close this needed funding before year-end. Currently the Company has minimal, but rapidly increasing revenues.    Management is estimating revenues of $8 million next year increasing to $34 million in 2003.  In 2003 they estimate achieving net income of roughly $4 million.  By 2003, we estimate the shares outstanding could increase to about 18 million.  If these numbers were met and a price to earnings ratio of 30 was applied, it could suggest a possible $6 share price.  Management's latest estimates are for revenues increasing to $93 million in 2004.  Merilus is little known in investment circles however an Investor Awareness Program is expected to start next week.   For more information see www.merilus.com and call Steve Clare, investor relations, at 866-623-3320.   Ben Johnson, Analyst First Securities Northwest, Inc. Member NASD and SIPC November 14, 2001 Mr. Johnson has been a Registered Representative and Analyst for NASD member firms for over 25 years.   Investing in Merilus, which is not yet profitable, is speculative and carries a high degree of risk.  The material contained herein is solely for informational purposes only and is neither an offer nor solicitation to buy or sell any securities.  The information is not guaranteed to be accurate and is not a complete statement or summary of the available data on Merilus, and there may be errors and omissions. First Securities Northwest and Ben Johnson own, and may buy and sell shares of Merilus from time to time. Forward looking-statements and comments contained herein within the meaning of provisions of the Securities Exchange Act of 1934, such as statements regarding business and financing, business trends, future revenues and profits, etc. contain no guarantee of future performance and that the actual results may differ materially.  There can be no assurances that any expectations will prove to be correct due to various risks and uncertainties.  First Securities' prior app! roval is needed for any distribution of this report.        Disclaimer: This is a paid advertisement from First Securities Northwest Research. The material contained in this report is being furnished solely for informational purposes. This is not a solicitation for the purchase or sale of securities. Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice, prior to making any investment decision. The information contained herein is based on sources, which First Securities Northwest Research believes to be reliable, but is not guaranteed to be accurate, and does not purport to be a complete statement or summary of the available data. Any opinions expressed are subject to change without notice. The statements and opinions contained herein are not the statements and opinions of FreeRealTime.com, and FreeRealTime.com disclaims any liability for or arising from such statements and opinions.   This FRT Special Situation Alert has been sent to you courtesy of FreeRealTime.com. To be removed from the email distribution list for FRT Special Situations & Alerts, simply click the link below.  Click here to Unsubscribe   Advertisements and sponsorships are provided as a service to FreeRealTime.com's users. FreeRealTime.com is not responsible for their content, services or products.  * = estimated [IMAGE]


I called Ed Chang from the Western Area Power Administration to ask about the
DOE involvement. It just so happened that he had attended the press
conference.  He and other state people were at a meeting to discuss how the
federal agnecies could work with state agencies.  They had only been meeting
for 15 minutes when they were told that they were going to be bussed over to
SMUD's Hedge Substation (don't you love the name?) for the press conference.
Richardson arrived with a flurry of black limos to announce his program.
Ed's view is that this was all for PR and that the "changes" don't help
California at all. The WAPA transformer referred to by Richardson is already
planned and in its approved budget (it is a joint upgrade project of the 500
kV lines by WAPA, PG&E and others at the Tracy and Tesla Substations).

Richardson did not even stay for the Governor's speach.  He left for the
airport.  The Governor arrived in a flurry of black limos.  He addressed the
FERC order a bit.  He felt FERC should have addressed the issue of refunds
for CA consumers. He was also concerned about FERC's order on governance.  He
said that deregulatrion was brought to us by Senator Peace and the Wilson
administration, but that the market is very different now than it was in
1996.  He said he believes in competition, but that the problems in the
market must be fixed.


This sounds like a good idea.

	"Daniel Douglass" <douglass@ArterHadden.com>
	03/12/2001 06:43 PM

		 To: <Barbara_Klemstine@apsc.com>, <Bob_Anderson@apses.com>,
<Vicki_Sandler@apses.com>, <berry@apx.com>, <dcazalet@apx.com>,
<billr@calpine.com>, <jackp@calpine.com>, <Ken_Czarnecki@calpx.com>,
<gavaughn@duke-energy.com>, <rjhickok@duke-energy.com>, <gtbl@dynegy.com>,
<jmpa@dynegy.com>, <jdasovic@enron.com>, <susan_j_mara@enron.com>,
<Tamara_Johnson@enron.com>, <curt.Hatton@gen.pge.com>, <foothill@lmi.net>,
<camiessn@newwestenergy.com>, <jcgardin@newwestenergy.com>,
<jsmollon@newwestenergy.com>, <rsnichol@newwestenergy.com>,
<nam.nguyen@powersrc.com>, <Curtis_L_Kebler@reliantenergy.com>,
<rllamkin@seiworldwide.com>
		 cc:
		 Subject: Fwd: Review of FERC Analysis

Gary Ackerman asked that the attached proposal from Ben Zycher be sent to the
board.

Dan
----- Message from "Benjamin Zycher" <bennyz@pacbell.net> on Sun, 11 Mar 2001
17:45:55 -0500 -----
To:	"Daniel Douglass" <Douglass@ArterHadden.com>, "Gary Ackerman"
<foothill@lmi.net>
cc:	"Benjamin Zycher" <bzycher@rand.org>
Subject:	Review of FERC Analysis
Benjamin Zycher                                                  (310)
393-0411 ext. 6436
March 11, 2001                                                  (818)
889-8163 home

bzycher@rand.org
bennyz@pacbell.net

Dear Dan and Gary,

     Given the FERC order for refunds from the power producers, I think
that the time has come for a serious paper critiquing the underlying
analyses and explaining market fundamentals.  Analytic errors are a
prominent feature of the Cal ISO "Report" on supply costs (February 28,
2001), and I would be surprised if the same were not true of the FERC
order and any supporting analyses that may have been prepared.  (Dan is
sending me a couple of relevant FERC documents now, but I will not be
able to review them in detail until Tuesday or Wednesday.)  In general,
however, it is fair to say that a common set of analytic errors
underlies such bureaucratic thinking, and the dangers inherent in the
ISO and FERC orders suggest that a detailed refutation is something that
ought to be done.  The central points that I believe I would make
include the following, among others.  (I'm using a small amount of
economic jargon here that I would not use in a report, but I really am
quite experienced at making such arguments in plain English.)

    1. Such analyses typically are incomplete, in that they ignore (a) a
risk premium for non- or under- or late payment.  They ignore also (b)
the fact that part of the marginal cost of selling today is the forgone
opportunity to sell tomorrow, given that units have to be taken down for
maintenance and the like.  In this sense, electricity can be "stored" in
the form of dispatch availability, and it is in the interest of
consumers for suppliers to produce when supplies are needed the most,
i.e., when (expected) prices are highest.  This is true even during a
stage 3 alert: Suppose, for example, that even greater problems are
foreseen for the ensuing summer.  Accordingly, this is not
"manipulation."  In addition, as explained in my paper in the current
issue of Regulation, (c) market prices under competition include a price
premium for the provision of optimal reliability.  These three
components of cost are important, with measurement requiring econometric
and other tools; and they perhaps are impossible to "verify" in
regulatory methodology.

    2. The ISO and FERC analyses confuse marginal and (average) variable
cost, average and marginal producers, average and marginal units of
production, etc.  Other errors are likely as well: The ISO, and, I
suspect, FERC implicitly assume away rising input prices as demand
conditions increase.  This would yield in perfectly competitive markets
a supply curve steeper and a market price higher than measured "marginal
cost."  Moreover, the ISO, and, again, FERC in all probability,
implicitly assume perfectly elastic supply at whatever input "costs"
happen to prevail.  That is simply incorrect: In the short run,
production capacity is limited, so that even if input prices do not rise
with demand, there is a "kink" in the competitive supply curve.  If
demand intersects supply above the kinkthat is, if the amount demanded
exceeds production capacity at the "marginal cost" that the regulators
measureprice will exceed that "marginal cost."  Think about the
wholesale market for wheat, for example, which is close to a perfectly
competitive market.  In the face of bad weather in some agricultural
regions, the market price of wheat will rise, even though "costs" for
the remaining wheat farmerslabor, insecticide, land rents, fuel, water,
etc.will not have changed, and indeed might actually fall because of
reduced demand from farmers affected by the adverse weather.

     3. The ISO report admits explicitly that it does not know market
marginal cost, because it complains that some suppliers bidding above
the "soft cap" have not submitted cost data.  Moreover, marginal cost
properly defined is for the market as a whole, rather than just for the
producers who bid in California.  This means, quite literally, even
apart from all of the other problems, that the conclusion of
"uncompetitiveness" or "unreasonableness" cannot follow from the ISO
analysis or from what is likely to be the underlying FERC analysis,
because price will equal the marginal cost (defined correctly) of the
last unit produced in a competitive market.  In short: The sort of
analysis offered by the ISO and FERC cannot even in principle determine
competitive prices because the regulators lack data for marginal cost
for the marginal producer.

     4. The implicit definition of consumer welfare ("wellbeing") used
by most regulators is incorrect.  Consumers are interested not in low
electricity prices alone, but in a maximization of the value of the
entire consumption basket.  Average electricity prices lower than
marginal cost reduce consumer welfare by engendering resource use in the
electricity sector that is too big, and thus prices in other sectors
that are too high.  Moreover, price controls of whatever form must
create shortages even in markets with inelastic demand, and the true
price with a shortage is unambiguously higher than the price that would
clear the market in the absence of the controls.  (Think about the
"cost" of electricity during a blackout.)  This is easy to demonstrate
analytically.
     The ISO and FERC clearly are shunting aside the effects of price
controls masquerading as "refunds" upon long run expectations and other
parameters, which easily can be shown to make consumers worse off over
time.  Part of this problem is the creation of an asymmetric
distribution of expected returns, since suppliers clearly will not be
subsidized when prices are low.

     5. The ISO errs in its assumption that bids above the soft cap
reflect higher capital costs.  I would not be surprised if FERC is
making a similar error.  Capital costs, having been sunk, cannot affect
short run pricing; the differing engineering efficiencies of generating
units will be reflected in their market values, and thus the opportunity
cost of production.  This means, in a strict textbook sense, that
different generating units cannot have costs that differ, as
counterintuitive as that sounds.  More efficient units will have lower
fuel costs (for example), but higher opportunity costs for employment of
the capital assets.  I would make this point in a report, simply to
erode the credibility of the regulators, but I would not push it too
hard, since some people cannot understand it.

     6. The Report ignores the market power of the respective regulatory
bodies as monopsonists under the implicit system of price controls and
refunds.

     7. The definition of "market power" is entirely obscure, except
implicitly as bids higher than marginal cost as measured by the
regulators.  This is incorrect, and I think that this needs to be
explained clearly.

     I am sure that other errors and omissions will emerge as the
relevant documents and arguments are reviewed.  Anyway, I'd like to
prepare such a report.  I would have to see precisely what it is that
must be refuted, but my guess is that this is about a two-week project
in terms of required analytic and writing time.  An effort to measure
marginal cost correctly would be a good deal more involved and
time-consuming, and my sense is that at this stage a refutation is more
important.  If it is a two-week project, then I think that $15,000 would
be reasonable.

    Looking forward to hearing from you.  Ben


Mike & Mark,
 Due to IT created production issues in Enron's mission critical applications
since the first of 2001 the following guidelines will need to be adhered with
several exceptions.
 Guidelines:
   In the Houston application environment there will be no production
migrations +- 5 days of the end on month.

   Development teams will be moving to a more standard production migration
schedule. Schedule to be rolled out in     March 2001.

   IT will be removed from production access with the exception of 1 or 2
senior developers per team.

 Exceptions:
  Production fixes will move into production as they do today.

  Application enhancements that have been formally approved by the Business
and IT.

  New applications that are in their start-up phase.

  Current processes that require IT intervention in order for it to be
successful. Processes will be reviewed in order to    replace in the future
with automation.

All the Houston IT leads are aware of these guidelines and exceptions.

Richard


I'm desperate.  HELP!!!!!!  We have a meeting with Duran et al today, and I
really wanted to brouse through this before then.


Once a week we'll start sending our Subscriber Plus updates to our free
email list as well as our subscriber email list.  The following is a
Subscriber Plus update.

National championship hopes ended well before loss to OSU

by Al Eschbach

You can mark down the date of Oct. 27 as the day Oklahoma lost its chance to
repeat as national champions. That was the day OU had its winning streak
broken by Nebraska. The loss to the Huskers wasn't what killed OU's hopes of
repeating as national champions, it was the season ending injury to Jason
White.

Without White at quarterback, the Sooners had no chance. What happened to OU
on Saturday against Oklahoma State shouldn't be that much of a surprise.
This offense has stalled many times with Nate Hybl at quarterback.

You need to look no further than the Texas game. OU doesn't win the Red
River Shootout if White doesn't replace the injured Hybl. The offense was
going absolutely no where against a bad Kansas defense the next week in
Lawrence. White came in and once again showed he was a play maker. After
White was hurt against the Cornhuskers, Hybl finished off the drive with a
short touchdown pass. Following that play, OU failed to score a point
against a suspect Nebraska defense.

There were struggles in the first quarter against a horrendous Tulsa
defense. The same could be said about Texas A&M and Texas Tech, Hybl never
looked good in the early going in all of those games. Against Oklahoma State
he looked nervous for four quarters. He was outplayed by a true freshman,
Josh Fields.

Sometimes when you lose you get a wakeup call. This offense struggled late
last year. But when you win a national championship you don't think there is
a problem. When you lose to a 3-and-7 Oklahoma State team, you know there's
a problem.

The Sooners have to find a way to be balanced. Zero yards rushing against
that weak Oklahoma State defense is as embarrassing as it gets. This offense
has to be retooled. You can't win championships if you can't pass the ball.
And you certainly can't win them if you can't run.

This year there was a quarterback controversy. Early in the year Hybl was
given the job. That was a mistake. Maybe the only mistake Stoops has made in
three years since he's been at OU. After the bowl game is over this year,
the Sooners need to make it clear that White is the man next season. They
also need to allow heralded freshman Brent Rawls to battle Hybl for the
backup spot.

And something an OU coach reminded me of this year about the offense. This
unit never did have a lead.

November 24 was one of the worst days in OU football history. But the reason
the Sooners lost the game was because of what happened on Oct. 27.

----------------------------------------------------------------------------
-----------------------

So why aren't you a Sooners Illustrated subscriber?  If you aren't already a
subscriber and would like to receive a full year of the best Sooner coverage
around, just call 800-467-6532 or sign up online at
https://mocha.site-secure.net/saysports/soonersindex.htm . 17 slick issues
and weekly email updates for only $44.90 a year.


We should be in town that week.  I'll make sure we save the date.

Kevin


sounds good tim


Kristin, I have it on the calendar for Friday, October 13.  I also left
Friday, November 10 on the calendar, too.  I'll check with him about meeting
you vs. picking you up and let you know what he says.  Hope your having a
good day - see you Saturday night.  SRS

"Skilling, Kristin" <kskilling@EHSHOUSTON.ORG> on 09/28/2000 02:41:08 PM
To: "'Jeff.Skilling@enron.com'" <Jeff.Skilling@enron.com>
cc:

Subject: RE: Lunch with your Dad

i tihnk that fridays would be the best. So that friday the 13th would work.
I get out of class at 11:55 so if he wants to pick me up or i will meet hi
somewhere...it doesn't really matter to me. Just email me back and let me
know what he wants to do

-----Original Message-----
From: Jeff.Skilling@enron.com [mailto:Jeff.Skilling@enron.com]
Sent: Thursday, September 28, 2000 2:08 PM
To: kskilling@ehshouston.org
Subject: Lunch with your Dad
Importance: High

Hi, Kristin.  Your Dad asked me to get in touch with you to see about
setting up some lunches for the two of you.  He's traveling quite a bit
again in October, but I'll give you the dates he's available and you tell
me which of those days you can do it:

Friday, October 13
Monday, October 16
Thursday, October 19
Thursday, October 26
Wednesday, November 1
Monday, November 6
Friday, November 10
Monday, November 13
Tuesday, November 14.

I'll hold all of these dates for you until I hear back from you.  Would you
be able to go at 12:00 noon?  SRS


When: Wednesday, October 31, 2001 11:00 AM-1:00 PM (GMT-06:00) Central Time (US & Canada).

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

Everyone is aware of the new Entergy tariff that has caused frustration for MDEA.  The tariff is under appeal and money is subject to refund.  However, We need a plan of action to develop as many possible options for MDEA to chose from in case the tariff stands.

Thanks
Kayne


How should I respond to soybeans?  It is on the list of commodities we might
trade.
----- Forwarded by Tana Jones/HOU/ECT on 06/30/2000 08:14 AM -----

	Frank Hayden@ENRON
	06/29/2000 02:15 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 bcc:
		 Subject: Re: Financial Interest in Commodity Futures Account

Tana,
I'm with Risk Assessment and Control and I'm currently not trading in the
account.  (It is an old account that was opened before I started at Enron.  I
haven't traded in it because Enron appears to trade in everything! )
However, since I have you,  I am currently considering buying some options in
soybeans. Would this be against Enron policy?
Thanks,
Frank

From: Tana Jones@ECT on 06/29/2000 01:17 PM
To: Frank Hayden/Corp/Enron@ENRON
cc:

Subject: Re: Financial Interest in Commodity Futures Account

Thanks for your response.  Yes, I I do need to know two things.  First, the
group you are in, and then second, what products you are trading out of the
account.  The Enron Trading Policy prohibits employees from trading in any of
the products the company trades in.

Thanks!

	Frank Hayden@ENRON
	06/29/2000 01:04 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Financial Interest in Commodity Futures Account

Tana,
Pursuant to an email from Mark Taylor, I am notifying you that I have a
financial interest in a Commodity Futures Account.
Let me know if there is any additional information your require.
Thanks,
Frank


Peggy, the last version I read was fine.

Regards
Delainey


I need 2 cases of Thin Mints and 6 packages of Shortbread.  I'm planning to
go to the reorder station Friday afternoon unless someone has extras.

Thanks,

Susan Pereira

susan.w.pereira@enron.com
713-853-3229 (wk)


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
06/24/99 09:45 AM ---------------------------
To: David G Mally/HOU/ECT@ECT, David Port/LON/ECT@ECT, Mark - ECT Legal
Taylor/HOU/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Justin Boyd/LON/ECT@ECT, Jordan
Mintz/HOU/ECT@ECT
Subject: E-Commerce

Gentlemen:

In connection with an analysis of the tax issues presented by the E-commerce
program, it is important that all Enron entities to participate in such
system (as well the products to be traded by such entities) be compiled.
London has undertaken this with respect to Europe (and, shortly, Singapore).
I have undertaken to coordinate this with respect to North America.  Thus, if
you could send me a list of North American Enron entities to be incorporated
in the E-commerce program (and the products they will trade) I can then
undertake to determine what issues such presents.  In this regard, I will
coordinate with ECT-Legal in North America to verify that the manner such
entities are to be incorporated into the E-commerce program does not trigger
unplanned for tax consequences.

In addition, it would be helpful to obtain copies of the form of agreements
to be entered into by counterparties prior to such parties being granted
access to the E-commerce system (i.e., the form of on-line access agreements
and any agreements ancilliary thereto).  These agreements are important to
the tax analysis of the E-commerce program because the manner such agreements
are to be entered into may implicate tax nexus concerns that we will want to
work to mitigate (for example, if it is contemplated that all such on-line
agreements are to be administratively executed by a single entity
("Administrative Entity") on behalf of each Enron trading entity
participating in the E-commerce system, such process could expose the Enron
trading entity to tax exposure in the jurisdiction in which the
Administrative Entity is located - obviously, this may be more complicated if
it is uncertain where such Administrative Entity is located).

Finally, it is understood that the manner in which trading is to be effected
through the E-commerce system is such that the Enron trading entity
established as the entity to trade with a particular counterparty will be the
only such Enron entity transacting business with such counterparty.  In this
regard, therefore, it is not contemplated that one Enron trading entity will
transact in part with a counterparty and that another Enron trading entity
will complete such trade (for example, it will not be possible for a
counterparty to obtain an agreement with respect to a particular product with
EEL that will then be supplied by ECT - though this may occur on occasion in
a fashion no different that is currently the case).  Please notify me in the
event that this understanding is not correct so that we can plan to mitigate
the potential tax issues that will be raised if trading is to occur otherwise
(in this regard, as was discussed on Tuesday with Dave Mally and David Port,
if a trade is transacted in a manner whereby one Enron entity executes a
transaction and fulfills the requirements of such by purchasing inventory
from another Enron entity, the income derived in such transaction is
potentially subject to taxation in multiple tax jurisdictions).

Please contact either myself at x30938 or, if I am unavailable, Jeff
Blumenthal at x35777 in Houston with any follow-up questions.  Best regards.


I would like to discuss the draft agreements and need some perspective for
how they fit into the overall big picture (e.g., the gas agreement doesn't
explicitly discuss the 2 month lag or nomination issues which may be ok if
this is covered elsewhere).

When would be a good time?  I have a 1:30 - 2/2:30 meeting but am free
otherwise.


Sally and Bob -

Here is the employee listing for Netco.

Please let me know if you have any questions.

Amy


I'm going.

Thanks,
Robin


We need to act on Marcus's email immediately.  Ed, if you disagree, you need
to talk to Marcus.
----- Forwarded by Tana Jones/HOU/ECT on 04/17/2001 10:57 AM -----

	Marcus Nettelton@ENRON
	04/17/2001 10:48 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: AES NewEnergy, Inc

Tana

We can find no record that the above entity has filed market based rates with
FERC as required by the Federal Power Act. Suggest that we notify them that
we can find no record of any such filing and as a consequence of which will
need to turn them off from the being able to sell on EOL, however they can
continue to purchase and once they have made, or can demonstrate to us that
they have made the requisite filing with FERC, we will open them up for sell
transactions as well.

Regards,

Marcus


Rod,

Nella sent me a Compliance Certificate and financial statements for the
referenced counterparty.  I am forwarding them down to you.


Tom,

Sorry about the phone tag.  I was calling to determine next steps re: Enron.
The last, I believe, was that you were going to get together with your team
to discuss possibilities.

Hope all is well.

Got anyone down in Texas that can count votes...accurately? :)

Mike


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/27/2001
07:22 AM ---------------------------

"Ryan Lee" <ralee@rmi.net> on 02/26/2001 05:22:50 PM
To: "Pedar Kjesth" <pederleifkjeseth@hotmail.com>, <merlinm@uswest.net>,
<matthew.lenhart@enron.com>
cc:

Subject: Fw: FW: Sorority house party

This will make you have to use the company bathroom.   Ry

----- Original Message -----
From: "David Shaw" <davidishaw@yahoo.com>
To: "scott salyer" <scott.salyer@gni.gte.com>; "donal sayles"
<donalsayles@hotmail.com>; "matt smiley" <smileymatt82@hotmail.com>; "chad
smith" <smichad@hotmail.com>; "jeremy stanford" <jgstanford@webtv.com>;
"alex wendler" <awendler@entercomkc.com>; "ben abendroth" <bda76@yahoo.com>;
"cory bosiljevac" <coboss4@yahoo.com>; "mark bouchard"
<m_bouchard32@hotmail.com>; "danny brock" <danielkbrock@hotmail.com>;
"DOUCHEBAG COFFMAN" <QCoffman@yahoo.com>; "spence hill"
<spencehill@yahoo.com>; "jake istnick" <jakeistnick@hotmail.com>; "brett
kessler" <kesslerbrett@yahoo.com>; "RYAN LEE" <ralee@rmi.net>
Sent: Monday, February 26, 2001 3:40 PM
Subject: Fwd: FW: Sorority house party

>
> Note: forwarded message attached.
>
>
> __________________________________________________
> Do You Yahoo!?
> Get email at your own domain with Yahoo! Mail.
> http://personal.mail.yahoo.com/

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Date: Mon, 26 Feb 2001 14:17:22 -0800 (PST)
From: ryan dickinson <rdickin55@yahoo.com>
Subject: Fwd: FW: Sorority house party
To: Chris Jones <cjoneser@eagle.cc.ukans.edu>,  jon jones
<jajone6@hotmail.com>, Justin Jones <justinjones44@hotmail.com>,  jamie
jwalker <jamewalker@aol.com>, dale knipp <dknipp@excelonline.com>,  kopmeyer
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<gholland@ssl.berkeley.edu>, J Hornstein <jah140@hotmail.com>,  hunter
<james.hunter@wilcom.com>, dan jackson <djackson@utilicorp.com>,  jawarski
<mjaworski@hotmail.com>,  andy jennings <andy.j.jennings@mail.sprint.com>,
jerrod burns <jerrodburns@yahoo.com>, jon burns <burnsjandj@aol.com>,  Robert
Cage <rcageranch@yahoo.com>, josh christie <jinnovation@hotmail.com>,  jeff
dillion <jeffers994@aol.com>, cris dolan <cdolan17@hotmail.com>,  duschaine
<deschainerp@bv.com>,  Ben Kingston E-mail <bdkingst@pepperdine.com>,  Jed
Macarthur E-mail <jedmac@hotmail.com>,  andrew fahey
<faheyandrew@hotmail.com>,  "Andy Patton \(E-mail\)" <andy.patton@wcom.com>,
"Mark Bouchard \(E-mail\)" <bouchardme@bv.com>,  "Ryan Butler \(E-mail\)"
<rbutler@fischercompany.com>,  Jonathan Alt <jonathanalt@earthlink.net>, JOEL
BAGBY <jobagby@cisco.com>,  jimmy baker <jimbaker33@hotmail.com>,  jake
ballard <jakeballard@hotmail.com>, BRIAN BEGGS <brbeggs@hotmail.com>,
benkwalker <benkwalker@aol.com>, Steven Berg <phenopolous@hotmail.com>,  Bob
Bishop <rwbishop@hotmail.com>, kelley bloom <tobloomer@yahoo.com>,  scott
bloomquist <scottblomquist@hotmail.com>,  mike bowden <mbowden@aol.com>,
Jonathan Bradford <gooch125@hotmail.com>
Cc: paul stiglic <paul.stiglic@labone.com>, stried <mstried@hotmail.com>,
strubal <mikstrub@yahoo.com>, MATT TAYLOR <mattyboy76@yahoo.com>,  rob
thompson <lakerob@yahoo.com>, tom <tjswartz7@yahoo.com>,  Andy Turner
<andynturner@yahoo.com>,  kyle underwood <underwoodkyle@hotmail.com>,  ryan
vanhorn <ryan.vanhorn@labone.com>,  jeff vaughn <jeffvaughn33@hotmail.com>,
Danny Vernassie <dverna01@sprintspectrum.com>,  ben walker
<benkwalker@yahoo.com>, david wells <wells2007@hotmail.com>,  Brian Wood
<bjwood42@hotmail.com>, woods <lusciouswoods@yahoo.com>,  Haig Newton
<haig@qwest.net>, Greg O'Brien <gobrien@lucent.com>,  bruce pendelton
<bependleton@hotmail.com>,  jeff phelps <jeffphelps@earthlink.net>, Colby
Post <colby.post@wcom.com>,  jason reid <jcreid1@hotmail.com>, sean rensch
<srensch77@hotmail.com>,  ryan renz <ryan@mid-west.net>, pete ripmaster
<denali44ak@aol.com>,  roark <christoproark@yahoo.com>, brian roberts
<brianr18@hotmail.com>,  leo rowen <leorowen@hotmail.com>, Brian Sachse
<brisachse@aol.com>,  nik sadri <nicksadri@hotmail.com>, 'Spencer Schelp'
<schelp@ekno.com>,  David Shaw <davidishaw@yahoo.com>, ryan shneider
<rschneider@tmkc.com>,  brett shrewsberry <bshrews2@yahoo.com>,  thadd smith
<thaddeusgsmith@yahoo.com>, spicer <spicer60@hotmail.com>,  Kyle Kubat
<kygkubat@hotmail.com>, ladd <laddyboy@earthlink.net>,  Bert Lyon
<bertlyon@hotmail.com>, jaro m <j48volts@hotmail.com>,  paul maxwell
<paul.d.maxwell@ssmb.com>,  Kevin McAnulla <k_mcanulla@yahoo.com>,  parker
mcconeky <pcmccon@mailcity.com>, David Momsen <dmomsen@hotmail.com>
MIME-Version: 1.0
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__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/
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Date: Thu, 22 Feb 2001 05:08:41 -0800 (PST)
From: Ron Colbert <roncolbert@yahoo.com>
Subject: Fwd: FW: Sorority house party
To: Jeff Richardson <jrichardson35@hotmail.com>,  Ryan Riggin
<ryan_riggin@yahoo.com>,  Michael Salmonson <mikes@visualcactus.com>,  Aaron
Schwindt <aschw29497@juno.com>, Todd Turbes <tturbes@hotmail.com>,  Don
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<hut_48@yahoo.com>, Joe Fraas <jfraas@susqkc.com>,  G-Money
<gwinterpsu@hotmail.com>, Jason Geier <geierjas@hotmail.com>,  Mike Gleason
<mdglea@hotmail.com>, john heleniak <tally68@sunflower.com>,  Shane Hunsinger
<shanehunsinger2@juno.com>,  Luis Jimenez <lajimenez@comdisco.com>, Pat
Johnson <johnson49@hotmail.com>,  B <brandon_myers@adc.com>, Tony Berg
<berg@eagle.cc.ukans.edu>,  Len Borgeson <lborgeson@hotmail.com>, John
Colbert <john_colbert@yahoo.com>,  Ben Coleman <bxc_42@yahoo.com>, Travis A
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__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - Buy the things you want at great prices!
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>From: "Frank Sciara" <franksciara@hotmail.com>
>To: jimbo@eagle.cc.ukans.edu, garner_jon@hotmail.com,
>johnny@genesishealthclub.com, TMCasc1925@aol.com, urdaddy15@hotmail.com,
>bct9f1@mizzou.edu, bhagman30@hotmail.com, brancato@SLU.edu, INZOAF@cs.com,
>jmsciara@hotmail.com, jrjhawk@hotmail.com, whm3budy@eagle.cc.ukans.edu
>Subject: Fwd: FW: Sorority house party
>Date: Wed, 21 Feb 2001 22:05:25 -0600
>
>
>
>
>>From: "Robert Iorio" <robiorio@hotmail.com>
>>To: berkleyb@washburn.edu, snewcs@yahoo.com, franksciara@hotmail.com,
>>RandyRoth@Hillyard.com, Scott.Salyer@gni.gte.com,
>>matthewfisch@hotmail.com, mikedrussell@hotmail.com, jmnewville@yahoo.com,
>>shackdaddy1075@yahoo.com, mdriggars@mathiascorp.com, rossvogel@birch.net,
>>anthony.campobasso@mail.sprint.com, jeff.j.ahlers@us.arthurandersen.com,
>>wolfman@quik.com, Chris.Corley@valrad.com, cdammerich@hotmail.com,
>>booker_jason@hotmail.com, berkley@intraco-us.com, tdefeo@yahoo.com,
>>frydesign@yahoo.com, tpreheim@hotmail.com, IMAMMINGA@cerner.com,
>>jgoff@falcon.cc.ukans.edu, Joe.Greenwald@us.cgeyc.com,
>>mdreitzler@cerner.com, amigsinchi@hotmail.com, jnash@cerner.com,
>>petes511@yahoo.com, andrew.w.klasing@mail.sprint.com, RoyseK@kochind.com,
>>justinzellers@hotmail.com
>>Subject: Fwd: FW: Sorority house party
>>Date: Wed, 21 Feb 2001 09:27:59 -0500
>>
>>
>>
>>
>>>From: "John Thombley" <tigerjt22@hotmail.com>
>>>To: houstdp@pdq.net, reeseep@mindspring.com, jamescox1@hotmail.com,
>>>jrstallings@hotmail.com, mcneebe@mail.auburn.edu, petes511@yahoo.com,
>>>rbrownlo@hotmail.com, robiorio@hotmail.com
>>>Subject: Fwd: FW: Sorority house party
>>>Date: Tue, 20 Feb 2001 19:01:03 -0500
>>>
>>>
>>>
>>>
>>>>enjoy!
>>>>
>>>>
>>>>-----Original Message-----
>>>>From: Haas, Bryan
>>>>Sent: Tuesday, February 20, 2001 2:46 PM
>>>>To: Thombley, John
>>>>Subject: FW: Sorority house party
>>>>
>>>>
>>>>
>>>>
>>>>-----Original Message-----
>>>>From: Meyerovitz, Dan
>>>>Sent: Tuesday, February 20, 2001 11:49 AM
>>>>To: Mescon, Andrew J.
>>>>Cc: Haas, Bryan; Rendeiro, Michael; Stevens, Keith C.
>>>>Subject: FW: Sorority house party
>>>>
>>>>
>>>>

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

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Hi Elizabeth,

Congratulations on your promotion!!!!!

Kay


Stan,

I wanted to thank you again for your guidance through my recent organizational changes.  I want you to know that I am in firm support of wherever you carry the flag, no matter what it may say on that flag.  If you need me and my team to take a hill, we'll make it happen.

Others in the group appreciated my staying, as presented in the following notes, but I would not have been in the position to make this decision without your support.

You and the family have a well deserved Happy Thanksgiving.

Appreciatively,
Steve

 -----Original Message-----
From: 	Cernoch, Sandra
Sent:	Thursday, November 15, 2001 8:27 AM
To:	Hotte, Steve
Subject:	RE: My Status.

Steve,

I am glad you are staying with our group.  I feel very confident with your leadership.

Thanks,
Sandra Cernoch

 -----Original Message-----
From: 	Bisbee, Joanne
Sent:	Thursday, November 15, 2001 8:02 AM
To:	Hotte, Steve
Subject:	RE: My Status.

Steve, I am glad to know that you will be with us through this tough time. Thanks for all that you do.

Joanne

 -----Original Message-----
From: 	Sawyer, Lisa
Sent:	Thursday, November 15, 2001 8:21 AM
To:	Hotte, Steve
Subject:	RE: My Status.

Welcome back!  We need you!!

-----Original Message-----
From: Gigliotti, Mark
Sent: Thursday, November 15, 2001 8:15 AM
To: Hotte, Steve
Subject: Re: My Status.

I am very glad you are staying!!!

-----Original Message-----
From: Steward, Larry
Sent: Thursday, November 15, 2001 3:28 PM
To: Hotte, Steve
Subject: Re: My Status.

It's great news having you stay.
Larry

 -----Original Message-----
From: 	Abshire, Scott
Sent:	Thursday, November 15, 2001 1:27 PM
To:	Hotte, Steve
Subject:	RE: My Status.

SWEET!!!

 -----Original Message-----
From: 	Thomas, Sylvia
Sent:	Thursday, November 15, 2001 1:16 PM
To:	Hotte, Steve
Subject:	RE: My Status.

Steve, I hope you are not disappointed, because I am sure I speak for the majority in saying we did not want you to leave us.  Thanks for staying.

 -----Original Message-----
From: 	Stacy, Don
Sent:	Thursday, November 15, 2001 12:02 PM
To:	Hotte, Steve
Subject:	RE: My Status.

Glad to hear this.  Good move
Don

 -----Original Message-----
From: 	McGregor, Donna
Sent:	Thursday, November 15, 2001 9:13 AM
To:	Hotte, Steve
Subject:	RE: My Status.

Steve,

This is a good thing in my opinion.

 -----Original Message-----
From: 	Sumpter, James
Sent:	Thursday, November 15, 2001 8:03 AM
To:	Hotte, Steve
Subject:	RE: My Status.

Steve,

	Although you were probably looking forward to the excitement of the new opportunity, I'm glad that you're staying with us.  My team looks forward to helping you succeed in bringing the pipeline groups to new technological heights.

James


Vince,
Sorry for getting back a little late. I have been in touch with Kirstee to
figure out how to treat positions data which is the primary cause for
fluctuations. Apparently, as of 7/19, MG still has July position. This may be
spot or balance of the month, or some settlement issue. This indeed is what
we are trying to find out/verify (it may be an error too). Kirstee is going
to get back to me on this. If it is not an error, then Anjam's latest results
($5.5 million total VAR) are reasonable given all the assumptions and the
missing pieces. I will keep you posted.
Cantekin

Vince J Kaminski
07/26/2000 10:12 AM
To: Cantekin Dincerler/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT
Subject: Re:

Cantekin,

Can you figure out the reason for cocoa beans VaR fluctuations?
The same is true of aluminum. I assume this is the position change.

Vince

Cantekin Dincerler
07/26/2000 09:28 AM
To: Anjam Ahmad/LON/ECT@ECT, Kirstee Hewitt/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject:

Anjam and Kirstee,

As I have suspected the position as of 6/30 vs 7/19 makes the difference. The
first table first column is my VAR number with 6/30 position and gold&silver
prices, the second column is your VAR with 7/19 position and dummy
gold&silver prices. The second table first column is my VAR with 7/19
position and 6/30 gold&silver prices, the second column is as before.

I would ask you to plug the gold and silver prices and see what kind of
numbers you get in order to verify we are on the same page. Please refer to
MODELVAR2000.xls that I have sent you for gold & silver prices and
volatilities.

Thank you,
Cantekin

  TABLE 1

  TABLE 2


Kay:

This needs to be handeled by Chris Calger's group. I think Bill Williams is
his point person (Chris will sign it, though).

Regards,

Ben

	From:  Kay Mann @ ENRON                           09/11/2000 12:27 PM

To: Ben Jacoby/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT
cc:
Subject: Change Order #3

---------------------- Forwarded by Kay Mann/Corp/Enron on 09/11/2000 12:27
PM ---------------------------

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 09/08/2000 04:25:33 PM
To: "Johnson, Lee L (PS, SSEP)" <lee.johnson@ss.ps.ge.com>,
"'chris.booth@enron.com'" <chris.booth@enron.com>, "'kay.mann@enron.com'"
<kay.mann@enron.com>
cc:

Subject: Change Order #3

Lee, Chris and Kay:

Attached is a draft of the Change Order #3 for the Las Vegas Cogen project.
Kay, I will be in Houston on Monday through Wednesday afternoon, but will be
busy most of Tuesday.  Lee had hoped that we could get together, or at least
talk, about this and the facility agreement and payment for Change Order #2.
How is your late Monday afternoon looking?

Kent

 <<Amendment Number 3.doc>>


-----Original Message-----
From: 	"Dawn and Gary Wilson" <dkenne@houston.rr.com>@ENRON
Sent:	Thursday, December 20, 2001 11:05 AM
To:	JBaer; Max and Bev; Love, Phillip M.; Sweitzer, Tara; tina.vincent@bcminc.com; TWBailey@mail.ev1.net;  Patti Desmarais; Amanda Barnard; Becker, Lorraine; Bryon Kenne; Bythewood, Richard; Giron, Darron C.; dfmensinger2; Garrett, Gary; Kdandgg@cs.com
Subject:	Fw: Honest Answers from the Guy in the Red..

----- Original Message -----
From: Deanna Sliger
To: Alan  Pinkston  ; Angela Deemer  ; Bill Knutson  ; Bob Stachlschmidt  ; Stacey Dickinson  ; James Ottney  ; JoAnn McManus   ; Karen Baker   ; Kerry Schwartz   ; Marcy  Lanning  ; Melanie Traveler  ; Mike McAuliffe  ;  Patty Allen  ;  Randy  Tripp  ; Rik  Scott  ; Shane Pinkston  ; Steve  Ouellette  ; AllStaff
Sent: Thursday, December 20, 2001 8:16 AM
Subject: Honest Answers from the Guy in the Red..
If Santa answered his mail honestly...
Dear Santa,
I wud like a kool toy space  ranjur fer Xmas. Iv ben a gud boy all
yeer yer  Frend,
BiLLy
Dear Billy,
Nice spelling. You're on  your way to a great career in lawn care.
How about I  send you a frickin book so you can learn to read and
write?
I'm giving your older brother the space  ranger. At least HE can
spell!
Santa
----------
Dear Santa,
I have been a good girl all  year, and the only thing I ask for is
peace and joy in  the world for everybody!
Love, Sarah
Dear Sarah,
Your parents were smoking  pot when they had you, didn't they?
Santa
----------
Dear Santa,
I don't know if you can do  this, but for Christmas, I'd like for
my mommy and daddy  to get back together. Please see what you
can do?
Love Teddy
Dear Teddy,
Look, your dad's banging the  babysitter like a screen door in a
hurricane. Do you  think he's gonna give that up to come back to
your  frigid mom, who rides his ass constantly? It's time to give
up that dream. Let me get you some nice Legos instead.
Santa
----------
Dear Santa,
I want a new bike, a  Playstation, a train, some G.I. Joes, a dog,
a drum kit,  a pony and a tuba.
Love, Francis
Dear Francis,
Who names their kid  "Francis" nowadays? I bet you're gay.  Only
gay  people want tubas.  I'll set you up with a nice Barbie.
Santa
----------
Dear Santa,
I left milk and cookies for  you under the tree, and I left
carrots for your reindeer  outside the back door.
Love, Susan
Dear Susan,
Milk gives me the runs and  carrots make the deer fart in my face
when riding in the  sleigh.  You want to do me a favor?  Leave me
a bottle of scotch.
Santa
----------
Dear Santa,
What do you do the other 364  days of the year? Are you busy
making toys?
Your friend,
Thomas
Dear Thomas,
All the toys are made in  China. I have a condo in Vegas, where I
spend most of my  time making low-budget porno films.  These
producers seem to like fat studs. I unwind by drinking myself
silly and squeezing the asses of all the cocktail  waitresses
while losing money at the craps table.
Hey, you wanted to know.
Santa
----------
Dear Santa,
Do you see us when we're  sleeping, do you really know when
we're awake, like in  the song?
Love, Jessica
Dear Jessica,
Are you really that  gullible?  I'll bet you're blonde.  Good luck
in whatever you do.  I'm skipping your house.
Santa
----------
Dear Santa,
I really really want a puppy  this year. Please please please
PLEASE PLEASE could I  have one?
Timmy
Timmy,
That whiney, begging shit may  work with your folks, but that
crap doesn't work with  me. You're getting a sweater again.
Santa
----------
Dearest Santa,
We don't have a chimney  in our house, how do you get into our
home?
Love, Marky
Mark,
First, stop calling yourself  "Marky", it sounds gay. That's why
you're getting your  ass whipped at school.  Second, you don't
live in a  house, you live in a low-rent apartment complex.
Third,  I get inside your pad just like your mother's boyfriend
does, thru the bedroom window.
Sweet  Dreams,
Santa


Following our announcement of an additional of $1 billion credit line, Standard & Poor's (S&P) today downgraded Enron's long-term credit rating one notch from BBB+ to BBB and short-term rating from A2 to A3.  We expected this, because it is not unusual to be downgraded after using assets to secure credit.  This is still above investment grade.

The ratings of our pipelines Northern Natural Gas and Transwestern have also been lowered from A- to BBB.  In S&P's words, "Their ratings [are now] in line with those of the parent company to reflect S&P's view that Enron's pipeline assets have become more strategic to the company."

S&P also said, "[We continue] to believe that Enron's liquidity position is adequate to see the company through the current period of uncertainty, and that the company is working to provide itself with an even greater liquidity cushion through additional bank lines and pending asset sales."

As I've said before, building on our liquidity position through additional credit lines maintains our counterparties' confidence and strengthens our core businesses.

It's important for you to know that our gas and power numbers - which account for more than 95 percent of our trading activity - indicate that our customer base is not withdrawing, closing out positions, or reducing transaction levels as a result of credit concerns.  In fact, EnronOnline trading volumes are currently experiencing above-normal activity.

We will continue to update you as new developments arise.  Thank you.


Prepared in contemplation of litigation -  Attorney Client Privilege

There appears to be no succinct way to write down my thoughts on where we are
with El Paso but I'm going to try.

Assumption:
Kilgore's objective:  Maintain PRM accounting treatment for the swap.
Outcome of lawsuit:   Game Over for Kilgore if his accountants disagree with
the current PRM treatment and move it to debt thus affecting his      ratios
and revolver.

What do we want?
(i)  To be certain of payment - how important is this really?  Pretty
important - but what is this worth is cash terms.  We clearly are in a
position   whereby if El Paso evers transfers the contract to an entity which
defaults on payment we are exposed.  However,  realistically what are the
chances  of them defaulting - very low and, would we win that in court - Yes.
(ii)  To monetize the contract - secondary concern with a value to Enron of
$15m.  There are potential ways that we could monetize the contracts
without disclosing the contract - Joe is working on these.    If there is a
way we can do this then our downside from this confidentiality issue is
much   smaller as it would cost us more to monetize (thereby bringing in less
gain - probably not much of a difference) but can we get the asset off the
book?  We are pursuing how far we can get  in terms of 'true sale' treatment
with V&E - they will give Joe a view on Wednesday.  There are potential
other   ways we can ensure this is off our credit.

If we sue them?  Loss of leverage.
We potentially open up the issue to a much wider audience and potentially
affect Kilgore's accounting treatment - the one thing he wants.  So our
leverage has disappeared as we are no longer able to maintain the one thing
Kilgore is looking for.

Way Forward:
We should continue to pursue a commercial solution to the payment issue and
monetize the contract through a secondary route.  If we complete monetization
through another route then we are exposed to non-payment which could be
perceived as very low risk (we have potentially a one year exposure on the
back end based on six years statute of limitations).  If we cannot get a way
forward on the monetization , then re-review the way forward. We are at risk
of them suing us over the confidentiality breach and that would be in New
York.

Good Luck!

Prepared in contemplation of litigation -  Attorney Client Privilege


Hi Everyone,

Peter Fiske, an F99 entering student, has just published a second edition of
his book The Take-Charge  Career  Guide for Scientists.  I asked him if I
could let everyone know, and he sheepishly agreed - and also has invited you
to the book-signing party.  (Peter is the Physics and Advanced Technologyies
Directorate at the Lawrence Livermore Laboratory)

Cheers,

Diane

Put Your Science to Work:
The Take-Charge Career Guide for Scientists
(http://www.agu.org/careerguide)

By Peter S. Fiske

A book-signing party hosted by the publisher

Saturday, December 16, 2000
6:30PM - 8:00PM
Moscone Convention Center
(http://www.moscone.com/)
Room 120
(the event is part of the Fall 2000 American Geophysical Union Meeting)

 - Fiske cover.pict


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

Request ID          : 000000000007593
Request Create Date : 11/16/00 11:21:54 AM
Requested For       : steve.moen@enron.com
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Resource Type       : Applications


-----Original Message-----
From: 	webmaster@wsrn.com@ENRON [mailto:IMCEANOTES-webmaster+40wsrn+2Ecom+40ENRON@ENRON.com]
Sent:	Friday, May 11, 2001 5:36 PM
To:	Kaminski, Vince J
Subject:	GRANT's Online Activation

Welcome to Grantspub.com.  Please keep the this message for
future verification.

Username: vkaminski
Activation Key: 0511223350
Email Address: vince.j.kaminski@enron.com

To activate your account goto http://www.wsrn.com/grants/Subscribe.cgi?client_id=GRANTS
If you have an questions or comments please direct them to
webmaster@wsrn.com

Thank You,
WebMaster
.


Working with Amitava Dhar,  Vasant Shanbhogue and John Best,  we completed
the following analysis to determine max loss for our portfolio of
transactions for the balance of 2001.

A Model simulation yields max loss of less than $60 million for our total
portfolio in 2001.

 Comments:  We ran several simulations in the model with 10,000 trials
showing a max loss without hedges of $49,500,000 - $52,000,000. In
otherwords, the  highest possible loss experienced in all runs was less than
$52 million.  We also ran one simulation at 30,000 trials and the max loss
did not vary   significantly from the earlier trials. Our conclusion from the
results of the model runs is that the 1 in 100,000 trial would produce a max
loss (P99.999) of less  than $60 million vs the notional P100 payout of $280
million.

 This does not address the "Venus falling into the Sun" scenario. Since
running the simulation does not produce a max loss approaching the P100, we
had  to go outside the model and create a spread sheet that would force a
scenario that generated the full loss.

B.  Worst case scenario of all units down on day 1 hits maximum payout of
$280 million over 5 days.

 Comments: In the spread sheet we assumed an unrealistic scenario that all
units go down on day one for 5 days. Taking the total MWh covered for each
unit, we then calculated the power price necessary to hit the maximum dollar
payout for each unit given a 5 day outage. The 5 day price spike for each
power market ranged from $1,500 in Entergy to $700 in PJM. Under this
unrealistic scenario we would reach our maximum payout of $280 million in 5
days.

C. Power option hedges generate offsetting cash value of $ 215 million,
reducing our net P100 exposure to less than $65 million

 Comments: We then layered our proposed hedging strategy on top of the
unrealistic spread sheet scenario in 2 above. Assuming the 5 day price spike
replicated the forward curve in the MidWest during 1999, a spot market at
$1,500 pulled forward prices up to a range of $250-$300/MWh. The option
hedges we would put in place would cost $14-15 million and would yield $215mm
in positive MTM to offset the payout  of $280 million, giving us the net
Maximun risk of $65 million.

We need to present our calculations to Vince tomorrow morning to get his sign
off and can then go over the analysis in detail with you and Greg immediately
afterwards. We are still not recommending we put the full hedge in place to
cover this unrealistic scenareo, but the analysis shows we can significantly
cover the tail risk in our book without having insurance in place. Our
recommendation remains to put a smaller hedge in place while we continue to
pursue a insurance partner during the month of June.

Speak to you tomorrow.
Per


take it to the credit union and deposit it.  We'll use it for computers / books.
kh

 -----Original Message-----
From: 	Margoliner, George
Sent:	Wednesday, January 16, 2002 3:38 PM
To:	Hyatt, Kevin
Subject:	RE: thank you letter

Kevin,

I still have a 20$ check to deposit for Enron Kids.  What should I do with it???  Let me know your thoughts.

Thanks Geo

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Wednesday, January 16, 2002 2:56 PM
To:	Geneva Davis (E-mail); Lesli Campbell (E-mail); Mann, Ruth
Cc:	'string304@cs.com'; Millar, John; Margoliner, George; Smith, Mike J; Rush, Pamela; Lee, Dennis
Subject:	FW: thank you letter

I sent this to the 1400smith and enronx website masters.
kh

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Wednesday, January 16, 2002 2:28 PM
To:	'webmaster@1400smith.com'
Subject:	thank you letter

I am writing to you as Co-chair of the 2001 Enron Kids program.

A lot of ex-Enron folks who use your website were involved in this year's Gordon Elementary School adoption program.  Many of these people sacrificed some of their own Christmas so that kids at Gordon Elementary would not be let down.  I would like them to know that their efforts were truly appreciated by the students, faculty, and especially those of us on the Committee.  Would you please consider posting on your site the attached thank-you letter from the school?

thank you
Kevin Hyatt
Co-Chair
Enron Kids Committee 2001

 << File: GordonThankYou2001.doc >>


Just a status check....according to Melanie Kinderdine at DOE both Rich Glick
and Gary Falley are actually still writing the Order.  Secretary Richardson
"got out ahead of himself" by announcing the Order before it was drafted.  He
plans to sign and release it tonight.  Melanie will get it to me when it is
written and signed tonight.  Richardson felt he had to get the news out
before tomorrow; thus, why he announced it before it was written.


1. PG&E Bankruptcy
 Update
 PX Credit Discussion
 Creditors Committee Issues
 Enron Response - Legal, PR, Other

2. Legislative Update

3. CPUC Update


Susan:  Looks like it worked.  Can you please repsond to John's request?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/02/2001 08:53 AM -----

	John Schwartzenburg@ENRON_DEVELOPMENT
	03/02/2001 07:12 AM

		 To: Sara Shackleton@ECT
		 cc: Susan Bailey@ECT, Wyndel McNamara@ENRON
		 Subject: ISDA Agreement for EECC

Sara, our CFO remembers executing one of these some time ago, but we cannot
locate the document yet. If we can't get our hands on it by next week, we
will go ahead and do a new form. Please resend the electornic form of the
ISDA master agreement. Your prior transmission seems to have been deleted in
a clean-up of the e-mails over here.. Thanks

JWVS


BLOOMBERG
585337 - changed to APS
I can't remember - did we decide to use APS as CTPY name with Bloomberg only
until they change it to Pinnacle in their system? This won't mess up confirms
later?

AMEREX
585230 - del. point is palo, says Driscoll - he's calling his broker to clear
this up

Thanks,
Kate

Evelyn Metoyer@ENRON
04/18/2001 02:35 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 4/28 Checkout

PREBON WEST
All o.k.

BLOOMBERG

Mike Swerzbin
deal 585337
Bloomberg shows cp as Arizona Public

AMEREX

Mike Driscoll

deal 585230
I confirmed Palo Verde as the del. point and Amerex Webcheckout has SP-15...
Can you double check location with MIke on this deal.


Thanks.
m

	Enron North America Corp.

	From:  Greg Piper @ ENRON                           07/07/2000 06:49 PM

To: Mike McConnell/HOU/ECT@ECT
cc: Jeffrey McMahon/HOU/ECT@ECT, Greg Whalley
Subject: Re: ClickPaper.com

First, thanks for jumping in on this.  I am confident we can get it done even
though it will be a fire drill.

We had a control or process matrix meeting today and it is all there, it was
just being held or managed in four places.  It will all  be pulled together
by Monday in one place (one complete document) and will have about 15 major
categories with specific tasks under each category with status, person
responsible, comments and date to be completed.  It will also have a complete
timeline. We can review that Monday and agree on its content.  Louise agreed
to review it as well.

As it relates to the people you mentioned, let me know how and/or who you
want to pull in after we agree on the control document.  That way we will
know which areas I have holes and how we can fill them.

Salley Beck called (she mentioned you had called her as well) and we agreed
that the ClickPaper's back office representative would officially be Scott
Earnest (he has been unofficially it for months and we have been working with
him for months).  She is going to get in place people to be our Product
Control Group for CP launch on July 24th.  Scott and Salley will work to
source it so that we have 3 or 4 people trained and ready on the 24th to
receive password applications, create customer profiles on ClickPaper and
start the applications through credit, legal and tax and finally get out user
IDs to clients.  We will leverage off the EOL process but not use their
people unless there is some emergency.  Remember, we are only setting up
people for paper so the process is somewhat simplified.

We also have a help desk person starting next week.  I don't have his name
yet, but we have him and one more on the way.  We will create for them a
brief manual and train them on the system as fast as we can.

I did have a good meeting with Louise and Dave.  We walked inch by inch
through getting a user ID and password to getting a trade done.  We have a
few holes, but it is not that far away.  She is going to think about a
process document for this and get back to me Monday.  I have a detailed EOL
one and we will give it our shot this weekend.

Let me know what Mark Palmer says.  He knows we have been using Margaret.  We
will sit down with Margaret again on Monday and detail for her the PR plan
and what she needs to do.  We still plan to go out with a fairly inclusive
mailing ( a letter) that does not include temporary IDs/passwords.  We will
tell them that the launch is coming and as special customers, we want to use
this time to get them pre-registered.  Besides, there is no way to test a
1000 temporary IDs anyway.  We will send those out later.  as I said earlier,
the goal is to replace the splash screen with the unsecure area (or garden as
Lousie would call it) by next for Friday or the following Monday. That way
people can surf the content and get registered.

On legal, I have been using Travis McCullough for at least four months and we
had a detailed discussion today about the contracts, what is needed and the
deadline. There is legal work left to do ( the current draft of the password
application doesn't work), but if Taylor can help, that would be great.  We
will get our commercial comments back to Travis by Monday.

I have a meeting Monday with Bill Bradford and Ted Murphy (with Bob Crane and
Hal as well) to discuss the issue of a manual interface and the control
issues associated with it.  Credit is fine, we have been working with
Bradford for months, but Murphy needs to understand the issues with manual
posting. I will also make sure they check with Rick Buy on his approval and
views.

The entire ENA Paper group has the link to our site and we will have all
their comments by the end of next week. They will also be given the complete
Net Works and ClickPaper story on Thursday at their offsite and are ready to
help the roll out.  We also have them scheduled to come in Saturday, July
22nd for the final testing of the system.

Remember, the 24th is a one (Enron)-to-many launch with a financial market
only.  ClickPaper is not the counterparty in the trade section, Enron is so
it is simply a new distribution channel for Enron's existing financial
offering.  Later, we will build it out for physical (probably sooner rather
than later).  Finally, I will incorporate the EOL link or transaction loop
but Louise said today that is October or November.  It will only be
many-to-many if someone comes in and makes a compelling case ($$$) to do so.

Thanks.

See you tomorrow.

GP

To: Greg Piper/Corp/Enron@Enron
cc:
Subject: ClickPaper.com

Greg,  a couple of other thoughts and ideas for Monday's meeting.

I would like to discuss the entire process chain as part of the timelines,
personnel responsibilities and key action items.  I think this is another
good way to find any potential gaps and help prioritize various items and
assignments.
Andrew Parsons Sr. Director (and superior performer) is a great and very
smart guy that can add a lot of value to the effort.  You will like him and
he will be a very valuable resource to add to the team - even if it is for a
couple of weeks.  He wrote the IT compliance process chain and could reverse
engineer difficult parts that are unique to the Ariba platform.  He has
others on his team that could help and I've asked him to think about his
existing AA resources that are available (some are working on ClickPaper
already).
Other resources that have been identified to potential added firepower in the
short run:  Beth Pearlman, John Tollefson (IT), Bob Schultz (LK said she
could spare him without delaying phase 2 roll out), Dave Forester (not a good
option because it would definitely set back phase 2 roll out), Mary
Solmenson, Scott Mills, Berry Pearce, David Port, David Sweeny, Sally Beck
(advice and discuss additional resources).
I did ask Louise to jump in (and i know you did too) to help on some quick
thoughts on process and lessons learned.
I saw the process maps for EOL and I think they, or the simplified early
versions, are very important and key to a successful launch for ClickPaper.
I went by to see Mark Palmer (he was out) and left him a voice mail on the
marketing effort and what Margarat Allen is doing.  I wanted him to make sure
that he understood the importance and priority of this effort.
I also talked with Beth Pearlman about helping out (or assigning John
Tollefson) and I told her that we would be talking about this on Monday
afternoon.
Do we need to have Alan Aronowitz or Mark Taylor look over the agreements to
add a trading perspective?

A few thoughts,  see you tomorrow.

mike


Hello Team,

The FOEX PIX Paper US Benchmark Index for newsprint fell to $506.16 this week, down $4.71 from last week.  In the months of October and November, the FOEX PIX Paper prices have oscillated between falling and stabilizing.

Ayesha


I sent the proposal back to SERC at 12:08pm.  Dick Ingersoll will call Jim
Maughn and is going to try to find Steve Whitley of TVA (who is out of the
office) to discuss today.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 10/04/99
12:07 PM ---------------------------

	From:  Christi L Nicolay                           10/04/99 12:07 PM

To: jmaughn@serc1.org
cc: Richard Ingersoll/HOU/ECT@ECT
Subject: SERC/Enron/TVA agreement

To Jim Maughn and Steve Whitley: (I am faxing this to Steve)

Jim and Steve;
Attached are minor comments on the latest draft that we believe address
Steve's concerns on Friday.  Also attached are the examples that we would
like to attach to the agreement.  Dick Ingersoll will call you both today to
discuss.  Thank you.(Use LAUNCH to view redlined)

Christi Nicolay  713-853-7007


Tim

There is absolutely a spot for John.  Maybe he should give me a call or even
come an see me.  Why don't you talk to him and also I would love your
thoughts on what the best role for him would be.


Greetings Jeffrey:

I'm pleased to tell you that VentureWire can now be sent
to you every business day in HTML format. This new
edition will save you time, and there are new features
you'll likely find useful.

First, it's easier to navigate--clicking on a headline
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Second, the VentureWire team has added three features
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Publisher
VentureWire


I am missing the following deals per Prebon

Mike Swerzbin buys from Morgan Stanley 25 mw of off-peak Mid-C for Q2'01   at
$214.00
Mike Swerzbin sells to Morgan Stanley 25 mw of off-peak NP-15 for Q2'01   at
$105.00


FYI.  I was supposed to have a call with Elizabeth today in advance of our submitting the budget to Rick.  Don't know what happened--but since I missed my scheduled call with yesterday, I can't complain.

Take a look.  Let me know if there are any changes.

Sue:   THANKS for pulling this together for us!!

 -----Original Message-----
From: 	Kaufman, Paul
Sent:	Wednesday, August 01, 2001 9:00 AM
To:	Linnell, Elizabeth
Subject:	Budget

Tried each of your numbers and pager this morning.  No luck.

Here's the budget for the Western States.
Re:  headcount.   	Current headcount:  6  (3 San Francisco; 3 Portland)
			Proposed headcount: 8  (3 San Francisco; 5 Portland--1 offer already extended)

We are still working on a proposed RCR budget.


Who will sign theses?

-----Original Message-----
From: Saunders, James
Sent: Sunday, November 04, 2001 12:43 PM
To: Rogers, Rex; Butts, Bob
Cc: Walden, Clint; Hayslett, Rod; Howard, Kevin A.; Chandler, Bob
Subject: FW: REVISED Legal Letters
Importance: High

Rex - thanks for the quick response...please note the revised letters below.
Previous email had a clerical error.

-----Original Message-----
From: heather.l.mueck@us.andersen.com
[mailto:heather.l.mueck@us.andersen.com]
Sent: Sunday, November 04, 2001 12:40 PM
To: Saunders, James
Subject: REVISED Legal Letters
Importance: High

Contents the same, I just had a misspelling!  Sorry

(See attached file: Special Committee Letter.doc)(See attached file: V&E
Legal Letter.doc)(See attached file: Wilmer, Cutler & Pickering Legal
Letter.doc)
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horrent (HOR-ehnt) adjective

   Standing up like bristles, bristling.

[From Latin horrent-, stem of horrens, present participle of horrere (to
bristle).]

   "Still, Domingo might have some fun staging the work with his Washington
   Opera company, given such lines as: `No more shall treason's horrent head
   be seen presumptuous in the land of Gore!'"
   Mark Swed, Performing Arts; Opera's Supernovas Blaze Anew, The Los Angeles
   Times, Jan 7, 2001.

   "With bright imblazonrie, and horrent arms."
   John Milton, Paradise Lost, 1667.

This week's theme: unusual words.

............................................................................
Applause is the spur of noble minds, the end and aim of weak ones. -Charles
Caleb Colton, author and clergyman (1780-1832)

Bulletin board: http://wordsmith.org/board
Online chat:    http://wordsmith.org/chat
AWADmail:       http://wordsmith.org/awad/awadmail.html
Archives:       http://wordsmith.org/awad/archives.html

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


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Best Offers I have sniffed out!

For those of you longing to return to nature, Interior Secretary Gale Norton
announced that  all entrance fees to national park areas will be waived during
Veterans Day Weekend, November 10, 11 and 12, 2001, to allow Americans the
opportunity to seek solace and inspiration from the Nation's parks, monuments
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---------
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