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?TOP STORIES
US REP BARTON UNVEILS EMERGNCY ELECTRICITY LEGISLATION

U.S. Rep. Joe Barton, R-Texas, formally unveiled Friday an "Emergency
Electricity Act" designed to provide relief for California and Western states
this summer.

AS SHOCKERS GO, PG&E BANKRUPTCY IS BIG ONE

A day after California Gov. Gray Davis went on television to announce a rate
hike aimed at easing the state's energy crisis by helping its ailing
utilities, one of the companies filed for bankruptcy.

POWER GRID BATTLES REACH TURNING POINT IN U.S. SOUTH

A battle over who will control major power lines in the U.S. South is taking
a new direction.

NEVADA GOVERNOR TO UNVEIL EXPANSIVE NEW PLANS FOR POWER PLANTS

Gov. Kenny Guinn today will detail plans for new power plant construction in
Nevada, the result of a streamlined permitting process that is part of his
Nevada Energy Protection Plan.

-FLORIDA LEGISLATURE SEEMS UNLIKELY TO PASS ELECTRICITY DEREGULATION

Prospects for passing a law this year to open Florida's wholesale electricity
market to competition are dimming quickly.

Dow Jones News, Preferred by the Pros

DOW JONES NEWSWIRES- Access stories online at:
http://199.97.97.79/IMDS|PMADJN0,PMADJN1,PMADJN2,PMADJN3,PMADJN4|index

MUNI WATCH: Calif Debt Seen Hurt By Moody's Action

US Rep Barton Unveils Emergency Electricity Legislation

REPEAT: As Shockers Go, PG&E Bankruptcy Is Big One

As Shockers Go, PG&E Bankruptcy Is Big One

Mirant Urges Berlin To Lift Objection To Bewag Deal

Power Grid Battles Reach Turning Point In U.S. South

PG&E:2,200MW Diablo Canyon 1&2 Reports End To Brush Fire

Revised Palo Verde Futures Vol. Apr. 05, 2

Cantabrico/IBEX-35 -3: Hldrs Must Tender Shrs By Apr 9

Cantabrico/IBEX-35 -2: IBEX-35 To Trade With 34 Cos

Cantabrico To Be Excluded From IBEX-35 Apr 10 >E.HIC

FREE TRIAL: For a free trial of the various Dow Jones index and data
services, go to www.dowjonesnews.com, and click "create account," or call
1-800-223-2274.

?NATIONAL - Access stories online at:
http://www.powermarketers.com/pma-nat.htm

According to Reliant Energy, Ferc Action on Credit Will Increase Supply And
Decrease Costs of Power in California

Advisory/the Center for The New West Presents' The First in A Series of
Leadership Forums on Energy Security

Pacific Gas And Electric Company Receives Court Approval of First-Day
MotionsUtility Granted Authority to Pay Employee Compensation And Benefits
And to Use Certain Bank Accounts And Cash Management Systems

PM Creates New Energy Committee to Capitalize on Growing U.S. Demand

Gef Announces Launch of First Solar Venture Fund Focused on Developing World

Eskom's Stake in Power Supply Business Set to Fall

Statement by California ISO CEO Terry Winter Regarding Pacific Gas And
Electric Chapter 11 Reorganization

Newest Trustee Living the 'American Dream' Candidate Says He Ran to Fight
Power Plant Proposal

Electricity Crisis: Power Plants Set for Apex

Reaping the Wind in Texas

-Florida Power Corp. to Drop St. Petersburg, Fla., Tower as Headquarters

-Oklahoma Governor Pushes to Add Republicans to Energy Task Force

CEO Says Duke Energy's Field Services Division Is the Largest Natural Gas
Gatherer and Processor in the US

Media Advisory: Gov. Locke to Break Ground on Transalta's Centralia Gas-Fired
Power Plant

El Paso Corp. to Build Veracruz Power Plant

Johanns Wants Wind-Power Plan

Power Failure Plagues AOL's IM Service

Calif. Utility Seeks Chap. 11 Bankruptcy

Power Firms Expected PG&E Bankruptcy

Top Energy Summaries - Friday, April 06, 2001 - 5:01 PM

Spring Storm Knocks Out Power, Phone Lines

Department of Energy Bonneville Power Administration Wallula Power Project

Gov. Says Power Rates Need to Rise

Altagas Services Inc - Acquires Natural Gas Assets for $6.3 Million

Duke Energy Statement Regarding Pacific Gas & Electric Company Filing for
Chapter 11 Reorganization

Corps Issues Permit for Brooklyn Power Barge

Reliant Energy Says Bankruptcy Action by Pacific Gas And Electric CO. Not
Unexpected

Before You Pay for Green Power

Altagas Acquires Natural Gas Assets for $6.3 Million

Coolant Spills Into Holding Tank at ST. Lucie Nuclear Power Plant

ST. Lucie Commission Oks Power Plant on Midway Road

Unitil /Fitchburg Gas And Electric Files Electric Default Service Rate
Increases

Cuts in Clean Energy Could Not Come at A Worse Time ...Statement of David M.
Nemtzow, President, Alliance to Save Energy on The Proposed Bush Energy
Budget Cuts April 6, 2001

Plant Divestitures Could Save Nevada Power Ratepayers $281 Million Over Five
Years, Energy Expert Testifies

Tech Hurdles Slow Fuel Cell Development

Top Energy Summaries - Friday, April 06, 2001 - 2:17 PM

Puget Sound Energy Announces Constructive Settlement with Industrial Customers

SCE Responds to PG&E Bankruptcy FilingSouthern California Edison Company
(SCE) Released The Following Statement in Response to The Decision Today by
Pacific Gas And Electric to File for Reorganization under Chapter 11 of The
U.S. Bankruptcy Code. This Statement Is By Edison International Chairman, P

1bn Wind Farms Project Hailed As a Coup for Region

Energy Supply Setback: Big Generator Can't Be Forced to Sell Emergency Power
to the State, a U.S. Court Rules.

Energy Update/Los Angeles Department of Water And Power Issues Daily Energy
Update for Friday, April 6, 2001

Allegheny Energy Solutions Expands Its Presence in the Northeast

Advisory/Pacific Gas And Electric Company to Hold Media Teleconference

Automation Brings Accountability/Control to Maintaining Standby Power

Nuclear Power Supporters Optimistic--Again

Distributed Generation: the Power to Choose

Arizona's Fuel Diversity Grows with Doubling of Springerville Coal Capacity

Connexus Energy Selects Enterprise Utility Solutions As a Preferred Partner
for Business Process Changes in 2001

Midwest Generation Cuts Emissions, UPS Output at Six Illinois Plants

Hydropower Licensing Reform Needed to Relieve Western Energy Crisis

Call Time on Energy Costs

Capp Releases Strategies for Northern American Energy Markets Submission

Active Power Successfully Demonstrates High Inertia Turbine Prototype;
Industry's First Fully Integrated Continuous Power System -- CPS -- Operates
at Full Power And Speed

Adlt Announces Southern California Edison Energy Rebate for Its 300 Watt
Uni-Form(R) Pulse Start Retrofit Kit

Natural Gas Prices for April Rise 5.7% Nationwide, As Spring Arrives with A
Chill, According to Platts

Cameco Corp - Bruce Power Forges Ahead on Bruce A Restart

INTERNATIONAL - Access stories online at:
http://www.powermarketers.com/pma-intr.htm

Power cut hits Philippine capital and elsewhere on Luzon

Uzbekistan To Sell Shares in Four Major Power Plants To Foreign Investors

-Oklahoma-Based Energy Companies Take a Beating As Markets Continue to Fall

Xining Expects To Receive Natural Gas from Qaidam Basin On May 31

Brazil Plans for Power Shortages

World's Largest Solar Project to Power Philippines

Go-Ahead for 18 Wind Farms Off the Coast

India: Junior Coal Minister Holds Talks with British Energy Minister Peter
Hain

Parliament Approves Urgent Steps to Overcome Energy Crisis in North Moldova

Top Energy Summaries - Friday, April 06, 2001 - 12:26 PM

A Line to Utility Savings

Brazil: Copesul's Production Backs 3rd Generation Petrochemicals

Brazil: Cesp Parana's New Owner to Expand Energy Generating Capacity

Brazil: Hydroelectric Power Facilities Investing in Modernization And
Expansion

Cosipa Studies 100mw Power Plant - Brazil

Lithuania Secures Amendments to Energy Deal with Neighbours

EnBW declares hopes of winning stake in Spanish power utility

Top Energy Summaries - Friday, April 06, 2001 - 9:21 Am

Integra: Integra Marks a Key Milestone in Its European Expansion Programme;
Launching Its New 2nd Generation UK Technical Centre And Strengthening Its
Pan-European Data Centre Infrastructure

Horizon Energy Development, Inc. Announces Plans for Generating Plant in Italy

Japan Natural Energy Signs Wind Power Pacts with 20 Firms

Aes Corp Completes Financing of Gas-Fired Power Plant in Bangladesh

?KRT - Access stories online at: http://www.powermarketers.com/pma-krt.htm

-Florida Power Corp. to Drop St. Petersburg, Fla., Tower as Headquarters

-Oklahoma Electricity Firms Want Corporation Commission to Study Deregulation

-Oklahoma Governor Pushes to Add Republicans to Energy Task Force

-Oklahoma-Based Energy Companies Take a Beating As Markets Continue to Fall

-Five Oklahoma-Based Firms Reach Fortune 500 List

-Williams Cos. Hopes to Use Market Rates for Electricity Sales in California

-Florida Legislature Seems Unlikely to Pass Electricity Deregulation Bill

-Indiana Lawmakers Reduce Fines for Poor Service by Utilities

Virginia to Educate Utilities Consumers About Retail Choice Electricity

Twins Falls, Idaho-Area Businesses Distressed by Utility's Planned Rate Hike

Lawmakers Seek Temporary Caps on Wholesale Electric Rates

Tax Breaks, Need for Electricity Fuel Georgia's Energy Boom

ST. Louis Animal Feed Company Loses Money in California Utility Investment

Santa Clara, Calif., Families Get $232,000 to Try Out Solar Power

Electric-Rate Hikes, Blackout Threats Not Limited to California

Power Supply-Raising Plans Will Take Months to Help, California Governor Says

California Treasurer Seeks Details of Power Purchases for Bond Sales

Report on Economic Effects of California Energy Crisis Draws Criticism

California Officials Investigate Finances of Utility Companies

California Ruled Unable to Require in-State Power to Stay in State

Richmond Times-Dispatch, VA., Greg Edwards Column

Corona, Calif., Officials Want to Form Power Utility

The Press-Enterprise, Riverside, Calif., Andy Mccue Column

West's Energy Crisis Chills Trend Toward Utility Mergers

Wholesale Market Bright for Oregon's Portland General Electric

Pennsylvania Regulators Release Audit of Philadelphia Natural Gas Utility

Electric Deregulation Allows Pennsylvania Consumers to Make A Choice

Decision Delayed on Funding for Water Storage at Lake Pueblo, Colo.

The Orlando Sentinel, Fla., Home Energy Column

California Regulator Takes Issue with Utilities' Claims on Power Crisis

Energy Crisis Puts Head of Huntington Beach, Calif., Power Plant on Hot Seat

Economists Predict More Painful Effects from California's Electricity Crisis

Experts Say Warning Signs Indicate Connecticut May Face Power Price Spikes

Connecticut Lawmakers Reconsider Electric Deregulation Law

New Hampshire Bill Would Delay Sale of State's Coal, Hydroelectric Plants

Wisconsin Utility Disputes Jury's Ruling in Contamination Case

Macon, GA., Man Looks for Help Paying $830.62 Natural Gas Bill

Poor Macon, GA., Residents Face Threat of Eviction If Utilities Turned Off

Kansas Officials Opt Not to Subpoena Western Resources' Corporate Jet Records

Nevada Officials Examine Wholesale Power, Fuel Industries

Nevada Governor to Unveil Expansive New Plans for Power Plants

Utah Power Firm Nears Completion of Las Vegas Hydroelectric Power Plant

Local New Mexico Water Board Gets National Recognition

SEC Approves Initial Public Offering by Kansas City, Mo.-Based Gas Marketer

Houston-Based Energy Company Plans Two Plants in Nevada

Grand Forks, N.D., Council Orders Rebid on Water Pipeline Project

Utility Company Secures Funds to Solidify Acquisition of Welsh Water

German Power Company Set to Provide Internet Access Through Electric Sockets

Nuclear Decommissioning Company Available for Sale As Stock Price Crashes

Escondido, Calif., City Council Members Tentatively Support Power-Plant Plan

Columbus, GA., Mayor Asks for Ruling to Clear Land for New Power Plant

Duke Energy Sees Earnings Growth of 10 Percent to 15 Percent This Year

San Jose, Calif.-Based Calpine Plans to Build New Power Plant in Livermore

California's Attempts to Keep Alternative Energy Production High Falter

Albuquerque, N.M.-Based Utility Sees Shares Rise More Than 8 Percent

New Mexico Facility Plans Laboratory Straddling U.S.-Mexico Border

New York Energy Board Looks to Enact Consumer-Protection Measures

?REUTERS - Access stories online at:
http://news.powermarketers.com/news/articles/ElectricPower.html

UPDATE 2-Calif.'s Davis says PG&E 'dishonored' itself
Shock and anger crackle at PG&E headquarters
Consumer groups target Pacific G&E power plants
PG&E bankrupcty seen hurting small power generators
NEWSMAKER-PG&E's Glynn broke long ``insider'' chain
Mexico electricity bill likely on ice until Sept
WRAPUP 2-Bankrupcty bombshell deepens Calif. energy crisis
Black Hills in coal supply agreement with PacifiCorpMain Street loses
confidence in utilities after PG&E
NorthWestern sees higher Q1 EPS on gas, electrical ops
PG&E investors jarred but not shocked by bankruptcy
Generators hopeful PG&E bankruptcy will end credit crisis
UPDATE 1-Calif. bankruptcy ripples through utilities shares
FERC Massey-Calif utility bankruptcy 'massive failure'
US Corp Bonds-Jolted by PG&E bankruptcy;Earnings woes
PG&E Corp unit's bankruptcy filing stuns investors
NYPA working with studio to settle NYC power plant case
PG&E jolts stranded cost ABS, Discover offers deal
UPDATE 1-US financial stocks fall after bankruptcy filing
U.S. says Calif. utility's woes not to hurt nuke safety
Judge allows New York Power Authority's new turbines
TEXT-Moody's revises Puget Sound Energy outlook
Sempra says SDG&E utility unit financially strong
UPDATE 1-PG&E says bankruptcy court best venue for shareholders
FERC approves project to get natgas to Calif.
Canada natgas rises with U.S. cash in quiet trade
Moody's to leave PG&E Corp unit snr unsecured rating at Caa2
Whitman says US to work on climate change, not Kyoto
US POWER-Few choices abound for energy self-sufficiency
UPDATE 1-US POWER-Calif. blackouts may darken U.S. economy
Pacific Gas & Elec filing hits power wholesalers
SoCal Edison says still looking to avoid bankruptcy
Aquila IPO range raised to $21-$23/share from $17-$22
UPDATE 1-Bruce Power plans to restart reactors
PG&E says only utility impacted by bankruptcy filing
Mirant asks Berlin mayor to back Bewag compromise
Credit analysts wait-and-see on Davis' Calif utility plan
Allegheny Energy hires financial chief
PSEG Power launches $1.6 bln three-part debt deal
EIA raises Q2 electricity demand estimate to 886.6 bln kwh
UPDATE 1-Reliant can stop Calif power sales without pay-court
Ukraine to raise tariffs ahead of utilities sale
INTERVIEW-Morgan Stanley sees Italy deals in pipeline
Washington regulators approve electricity settlement-WSJ

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John O'Brien, Skipping Stone
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Weather: The Everyday Crisis
Lynda Clemmons, Element Re
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The Risk of Managing Risk
Robert Jacobs, Derigen Consulting
http://pmaconference.com:8080/ramgen/2volatility.rm

Making the Most of Transmission
Bill Townsend, Friedwire
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Tony Banks, Optiron
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----- Forwarded by Linda Robertson/NA/Enron on 05/11/2001 10:31 AM -----

	David Lugar <DLugar@QuinnGillespie.com>
	05/10/2001 04:30 PM

		 To: "Linda Robertson (E-mail)" <Linda.Robertson@enron.com>, "John Shelk
(E-mail)" <John.Shelk@enron.com>
		 cc:
		 Subject: FW: This went out today

Linda,

This went out today from Majority Leader Armey to his Republican colleagues.

On message!

-----Original Message-----
From: Ed Gillespie
Sent: Thursday, May 10, 2001 3:28 PM
To: ENRON
Subject: FW: This went out today

fyi

Addressing the Energy Deficit:
A Conflict of Visions
May 9, 2001

Dear Republican Colleague,

For the last eight years, we have had no coherent energy policy.
Former-Secretary of Energy Bill Richardson said last year in response to
rising gasoline prices, "We were caught off guard.  We were asleep at the
wheel."  Well it's time to wake up, and I think the Bush-Cheney
Administration is ringing the alarm bell.

        As we get into the debate over how to get out of this energy
deficit, it is important to remember that Democrats have long advocated high
prices to curtail your energy consumption.   Remember the Btu Tax?  I do.
The current crisis is the culmination of both a neglect of real energy
solutions and a concrete plan to restrict supply and drive up prices.

This summer is the Democrat energy ideal, because it forces you out of your
car, to turn off your air-conditioning, and to dramatically change your
energy consumption habits.   Their plan calls for a fuel quota for SUV's!
To me, this exemplifies the difference between their vision and ours.

*       We're for modern technology solutions, abundant and affordable
energy, streamlining and innovation.
*       They're for rationing energy, more government control, scarcity and
excessive sacrifice.

*       We're for newer, cleaner, more abundant sources of energy to fuel
our high tech economy.  Even traditional fuels like oil and gas can be
derived more safely, more cleanly, more efficiently.
*       They're for controlling your consumption and imposing new government
mandates on energy.

*       We're looking to the future and looking at comprehensive, reality
based solutions to a long-term problem.
*        They're stuck in the past and looking for Jimmy Carter solutions
that led to gas lines, stagflation and malaise.

To me the choice is clear.  We can recognize that we have a real problem and
look to real solutions, or we can stick our head in the sand, slap on a few
band-aids and falsely claim to have "solved the problem."  I choose the
former.

                                        Sincerely,

                                        DICK ARMEY

DOUGLAS FARRY
Office of Majority Leader Dick Armey
H-226 The Capitol
(202) 225-6600
"Ground Zero in the Fight for Tax Cuts!!!"


This call is with Edwards and SCE to discuss selling back energy and
-----Original Message-----
From: Weaver Paul Civ 95 CEG/CEOEE [mailto:Leo.Weaver@edwards.af.mil]
Sent: Wednesday, August 29, 2001 8:15 AM
To: Choi, Paul; 'kingjc@sce.com'; 'haugrd@sce.com'
Cc: Weaver Paul Civ 95 CEG/CEOEE; Emanuel Gregory G LtCol 95 CES/CC
Subject: FW: Phone Conference at LTC Emanuel's Office, Wednesday 29
August, 13:30

Sirs,
The dial-in # for the 1:30 conference is 661-277-8206.
Thanks, Paul

> -----Original Message-----
> From:	Miller Cindy E Civ 95 CES/CC
> Sent:	Wednesday, August 29, 2001 8:05 AM
> To:	Weaver Paul Civ 95 CEG/CEOEE
> Subject:	RE: Phone Conference at LTC Emanuel's Office, Wednesday 29
> August, 13:30
>
> number is 7-8206
>
> -----Original Message-----
> From:	Weaver Paul Civ 95 CEG/CEOEE
> Sent:	Tuesday, August 28, 2001 6:26 PM
> To:	Miller Cindy E Civ 95 CES/CC
> Cc:	Emanuel Gregory G LtCol 95 CES/CC
> Subject:	Phone Conference at LTC Emanuel's Office, Wednesday 29
> August, 13:30
>
> Cindy,
> Would you help me get a dial-in # for this please?
> Thanks, Paul


Thanks for keeping me up to date. Out of curiosity, do you know why El Paso
changed the trade date in the first place?

Kate

Stephanie Piwetz   12/20/2000 01:45 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Trade date for deal 475585.01

Kate,
just fyi, El Paso struck thru our 12/6/00 trade date and placed 12/5/00.  I
spoke to Chi, of El Paso and he said the 12/6/00 was okay.  I just made a
note on the confirm and sending it to the fileroom to be executed.
Thanks
Stephanie


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude63.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas63.pdf

Feb. WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clg-qog.pdf
Feb Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Feb Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
June Gas/Heat Spread
http://www.carrfut.com/research/Energy1/HUM-HOM.pdf
March Gas/Heat Spread
http://www.carrfut.com/research/Energy1/HUH-HOH.pdf
Feb/May Unlead Spread
http://www.carrfut.com/research/Energy1/HUG-HUK.pdf
Feb/July Crude oil Spread
http://www.carrfut.com/research/Energy1/CLG-CLN.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG63.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG63.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL63.pdf


Suzanne, please forward this to Jeff.  My email is acting up again.

Hi Jeff,

I thought I would pass this email along to you since you've been working on
some of the aspects of the Peoples deal.  I don't want to interfer with
whatever you have going on, but I'm happy to assist/participate in whatever
way makes sense.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 06/23/2000 04:45
PM ---------------------------

	From:  Gregg Penman                           06/20/2000 02:20 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Affiliate Master Purchase and Sale Agreement

Here is some more info. regarding the Affiliate Master Purchase and Sale
Agreement that is on the list.

Attached is a draft agreement prepared by Simon Halfin at Peoples.  It is
based on the 3rd party contract that Jeff Hodge is working on with Peoples.
The agreement is intended to be a master contract that would facilitate a
blanket of structured term transactions between the utilities (Peoples Gas
Light and Coke Co. and North Shore Gas)  and MEH.  It will be filed with the
Illinois Commerce Commission for approval.  My understanding is that the
transactions will still be subject to the annual prudency process of each
utility.  I am not sure your strategy on this one, but would think that a
combination of you, Jeff Hodge, and Boyd would be most effective.  I
understand that Dynegy and Nicor filed a similar agreement as part of their
Hub Agency Agreement that Boyd has reviewed.  I am sure he can confirm that
or not.

Thanks,

Gregg


EFF_DT PORTFOLIO_ID DOWN95
2/12/01  MANAGEMENT-COAL 0
2/12/01  MANAGEMENT-CRD 0
2/12/01  MANAGEMENT-GAS 1,016,311.
2/12/01  MANAGEMENT-PWR 169,668
2/12/01  AGG-MANAGEMENT 1,089,337


The plaintiffs atty--Patricia Whatever has been against me in two cases. She
sued GroupMac in one case and Enron in another. One day I'm sitting at the
house on Tosca when the phone rings. Its her. She must have seen my name on a
list of residents. She starts pumping me for info:Have you seen this dog on
the loose in the area before. Now mind you when I was younger,slimmer and
with less kids, I was in the yard all the time. I knew the stray dogs. I told
her I had never seen their dog loose before and in fact I didn't know they
had a dog. Needless to say I never heard from her again.


I agree that it is best to leave alone.

 -----Original Message-----
From: 	Brown, Cole
Sent:	Wednesday, November 28, 2001 9:29 AM
To:	Johnson, Rick; Cash, Michelle
Cc:	O'rourke, Tim
Subject:	RE: Severance Question

Last I checked, the severance plan is not currently listed on the intranet.  I wonder whether we should provide information regarding the current plan as it may change in the very immediate future.  What are your thoughts?  Thanks, Cole.

 -----Original Message-----
From: 	Johnson, Rick
Sent:	Tuesday, November 27, 2001 6:01 PM
To:	Brown, Cole; Cash, Michelle
Cc:	O'rourke, Tim
Subject:	RE: Severance Question

We should be able to direct employees to the web site <http://home.enron.com> for plan information.

 -----Original Message-----
From: 	Brown, Cole
Sent:	Tuesday, November 27, 2001 5:07 PM
To:	Cash, Michelle; Johnson, Rick
Cc:	O'rourke, Tim
Subject:	FW: Severance Question

Michelle & Rick, do we want to answer this question now?
 -----Original Message-----
From: 	Questions
Sent:	Monday, November 26, 2001 12:15 PM
To:	O'rourke, Tim
Subject:	FW: Severance Question

 -----Original Message-----
From: 	Ripley, Brian
Sent:	Monday, November 26, 2001 11:13 AM
To:	Questions
Subject:	Severance Question

The answers so far have stated current Enron Corp Severance Plans are in place for those employees laid off.

What are the Enron Corp Severance Plan details? Where can they be found?

Thanks

Brian Ripley
713-345-4709 (work)
281-541-2927 (cell)


Partnership Spurs Enron Equity Cut --- Vehicle Is Connected To Financial Officer
The Wall Street Journal, 10/18/01
Suit alleges conflict of interest at Enron
Houston Chronicle, 10/18/01
Enron Shareholder Sues Over Partnerships Run By CFO (Update2)
Bloomberg, 10/17/01

Analysts vent anger at 'hidden' Enron charge.
Financial Times - FT.com, 10/18/01
Enron Says Its Links to Partnership Led to $1.2 Billion Equity Reduction
Dow Jones Business News, 10/18/01
Markets Ford's Financial Fine-Tuning Leads to $692 Million Loss in 3rd Quarter Earnings: Sales incentives, production cutbacks hit company hard. CEO plans reorganizational moves.
Los Angeles Times, 10/18/01
UK: ANALYSIS-LME members survey hard choices ahead.
Reuters English News Service, 10/18/01
Maharashtra to challenge London court order on DPC
The Economic Times, 10/18/01
India: Enron: Maharashtra to move London court in a week
Business Line (The Hindu), 10/18/01
India: GAIL keen on Dabhol LNG terminal project
Business Line (The Hindu), 10/18/01
FERC To Discuss Possible Changes To West Pwr Price Caps
Dow Jones Energy Service, 10/17/01

Partnership Spurs Enron Equity Cut --- Vehicle Is Connected To Financial Officer
By Rebecca Smith and John R. Emshwiller
Staff Reporters of The Wall Street Journal

10/18/2001
The Wall Street Journal
C1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Enron Corp. shrank its shareholder equity by $1.2 billion as the company decided to repurchase 55 million of its shares that it had issued as part of a series of complex transactions with an investment vehicle connected to its Chief Financial Officer Andrew S. Fastow.
Enron didn't disclose the big equity reduction in its earnings release issued on Tuesday, when the Houston-based energy giant announced a $1.01 billion charge to third-quarter earnings that produced a $618 million loss. But the company briefly mentioned it in a subsequent call with security analysts and confirmed it in response to questions yesterday. As a result of the reduction, Enron's shareholder equity has dropped to $9.5 billion, the company said.
In an interview Tuesday, Enron Chairman Kenneth Lay said that about $35 million of the $1.01 billion charge to earnings was related to transactions with LJM2 Co-Investment LP, a limited partnership created and run by Mr. Fastow. In a conference call yesterday with investors, Mr. Lay said that the 55 million shares had been repurchased by Enron, as the company "unwound" its participation in the transactions. In the third quarter, the company's average number of shares outstanding was 913 million.
According to Rick Causey, Enron's chief accounting officer, these shares were contributed to a "structured finance vehicle" set up about two years ago in which Enron and LJM2 were the only investors. In exchange for the stock, the entity provided Enron with a note. The aim of the transaction was to provide hedges against fluctuating values in some of Enron's broadband telecommunications and other technology investments. Mr. Causey didn't elaborate on what form those hedges took.
Subsequently, both the value of Enron's stock and the value of the broadband investments hedged by the entity dropped sharply. As a result, Enron decided essentially to dissolve the financing vehicle and reacquire the shares. When Enron reacquired the shares, it also canceled the note it had received from the entity.
In addition, Enron was receiving increasing criticism from analysts and major shareholders concerning the apparent conflict of interest involving the role of its chief financial officer in the partnership, from which he stood to make millions of dollars. In July, Mr. Fastow formally severed his connections to LJM. Mr. Fastow has declined to be interviewed.
Given all the complexities of the LJM-related financing vehicle and the questions it raised outside the company, "the confusion factor wasn't worth the trouble of trying to continue this," Mr. Causey said.
Enron downplayed the significance of the share-reduction exercise. Mark Palmer, an Enron spokesman, described it "as just a balance-sheet issue" and therefore wasn't deemed "material" for disclosure purposes.
Jeff Dietret, an analyst for Simmons & Co. in Houston, said that a large reduction of equity could be "a flag for the rating agencies" because it could adversely affect a company's debt-to-equity ratio. Enron said yesterday that as a result of the equity reduction, its debt-to-equity ratio rose to 50% from 46% previously.
On Tuesday, after Enron reported its big quarterly loss, Moody's Investors Service Inc. put Enron's long-term debt on review for a possible downgrade. Moody's said the move was related to "significant write-downs and charges reflecting substantially reduced valuations" in several of Enron's businesses. In recent years, Enron had moved aggressively into broadband telecommunications and the water business, both of which failed to produce expected returns.
Enron, which as of June 30 had $33.6 billion in current liabilities and long-term debt, has lately been attempting to shed assets to pay down debt.

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

Oct. 18, 2001
Houston Chronicle
Briefs: Houston & state
Suit alleges conflict of interest at Enron
Enron Corp.'s board cost the company at least $35 million by allowing the chief financial officer to manage partnerships that bought Enron assets, a shareholder alleges.
Fred Greenberg filed the suit Wednesday in Harris County District Court, said his lawyer, Paul Paradis.
Chief Financial Officer Andrew Fastow's positions with two limited partnerships that bought Enron assets were a clear conflict of interest, Paradis said. The lawsuit doesn't specify which assets the partnerships bought.
The lawsuit comes a day after Enron reported $1.01 billion in third-quarter losses from failed investments.

Enron Shareholder Sues Over Partnerships Run By CFO (Update2)
2001-10-17 19:42 (New York)

Enron Shareholder Sues Over Partnerships Run By CFO (Update2)

     (Adds detail on third-quarter loss in final paragraph.)

     Houston, Oct. 17 (Bloomberg) -- Enron Corp.'s board cost the
company at least $35 million by allowing the chief financial
officer to manage partnerships that bought Enron assets, a
shareholder alleges in a lawsuit.

     Shareholder Fred Greenberg filed the suit today in Harris
County District Court in Houston, said Paul Paradis, a partner at
the law firm Abbey Gardy LLP and Greenberg's attorney. Enron is
based in Houston.

     Chief Financial Officer Andrew Fastow's positions with two
limited partnerships that bought Enron assets was a clear conflict
of interest, Paradis said. The lawsuit doesn't specify which
assets the partnerships bought.

    ``Enron directors permitted Fastow to be in the unique
position of knowing what assets were worth,'' Paradis said. ``He
was placed in the position of irreconcilable conflict that
permitted him to capitalize on Enron's proprietary information.''

     The lawsuit comes the day after Enron reported $1.01 billion
in third-quarter losses from failed investments. The Wall Street
Journal reported today that $35 million of the losses were
connected with two limited partnerships run by Fastow.

     The suit seeks damages of at least $35 million, Paradis said.
Damages would be paid to the company, probably by insurance
protecting directors from lawsuits, Paradis said.

     Enron spokesman Mark Palmer declined to comment on the
allegations.

                       Formed to Lower Debt

     The company has formed several limited partnerships that buy
its assets. This allows Enron to reduce debt so it can borrow more
money for other projects.

      The suit, citing details from today's Wall Street Journal
article, says Fastow ran two of the partnerships, LJM Cayman and
LJM2. He could have earned as much as 2 percent annually of the
total amounts the partnerships invested, the suit says. LJM Cayman
raised $16 million in initial partnership capital, while LJM2
raised at least $200 million.

     Allowing a company official to run the partnerships raises
the question of impropriety, said Andre Meade, an analyst at
Commerzbank Securities who rates Enron a ``buy'' and owns no
company shares.

                     Partnerships Not Uncommon

     Many companies create limited partnerships, Meade said, using
them for tax purposes. ``Duke Energy Corp. and Kinder Morgan Inc.
both have limited partnerships where assets are transferred,'' he
said.

      Enron also has owned a controlling interest in Whitewing
Limited Partnership. Whitewing was financed with a $1.4 billion
bond sale last year conducted by Osprey Trust, which set up the
partnership with $807 million for buying Enron assets, according
to the Osprey Trust offering memorandum.

      Whitewing has bought 14 Enron power and gas companies since
it was formed in 1999, according to the memorandum. It had sold
four of them as of September 2000. Enron said in the offering
memorandum that officers and directors of the energy trader may
serve as directors of Whitewing.

     ``Therefore the duties of the directors and officers of Enron
may conflict with the duties of the officers and directors of
Whitewing Management LLC,'' the Osprey Trust offering memorandum
says.

     Enron reported a third-quarter loss of $618 million, or 84
cents a share yesterday, compared with net income of $292 million,
or 34 cents, a year earlier. Shares of Enron fell $1.64 to $32.20
today.

Analysts vent anger at 'hidden' Enron charge.
By JULIE EARLE.

10/18/2001
Financial Times - FT.com
(c) 2001 Financial Times Limited . All Rights Reserved

Enron, the US energy trader which is under intense scrutiny by analysts who have demanded the company release more detailed financial information, on Wednesday gave details of a $1.2bn charge against equity it skipped over in its third quarter results briefing on Tuesday.
On Wednesday, Enron outlined details of a $1.01bn charge against earnings in its result, due to failed investments in its telecommunications, retail energy sales and water businesses.
Ken Lay, chairman, fleetingly mentioned a separate $1.2bn charge against equity, or a dilution of equity on the company's balance sheet, in a conference call with analysts and the media, and said it would not affect the company's credit rating.
Many analysts apparently thought this was the $1.01bn charge Mr Lay was willing to break down and to answer questions about.
Mr Lay met analysts on Wednesday in New York, but there was again no mention of the $1.2bn charge. Mr Lay apparently initially refused to answer questions from frustrated analysts. In August, after the departure of Enron's chief financial officer, Jeff Skilling, Mr Lay promised to provide more earnings transparency.
"It was unbelievable. Questions were asked and he moved around it and then finally he [Mr Lay] gave a roundabout answer. The [$1.2bn] charge was all related to the writing down of the se failed investments," one analyst said.
"They were trying to sneak it by. They already have a credibility problem and this did not help it," he said, adding that Enron never disclosed the charge's net effect and Moody's Inv estor's Services, the credit rating agency, placed Enron's $13bn of debt on hold minutes later. "We told them we felt they should have been more honest in the presentation [yesterday]."
Enron rejected criticism of the failure to fully report and explain the $1.2bn charge.
(c) Copyright Financial Times Group.
http://www.ft.com.

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

Enron Says Its Links to Partnership Led to $1.2 Billion Equity Reduction

10/18/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Enron Corp. shrank its shareholder equity by $1.2 billion as the company decided to repurchase 55 million of its shares that it had issued as part of a series of complex transactions with an investment vehicle connected to its Chief Financial Officer Andrew S. Fastow, Thursday's Wall Street Journal reported.
Enron (ENE) didn't disclose the big equity reduction in its earnings release issued on Tuesday, when the Houston-based energy giant announced a $1.01 billion charge to third-quarter earnings that produced a $618 million loss. But the company briefly mentioned it in a subsequent call with security analysts and confirmed it in response to questions yesterday. As a result of the reduction, Enron's shareholder equity has dropped to $9.5 billion, the company said.
In an interview Tuesday, Enron Chairman Kenneth Lay said that about $35 million of the $1.01 billion charge to earnings was related to transactions with LJM2 Co-Investment LP, a limited partnership created and run by Mr. Fastow. In a conference call yesterday with investors, Mr. Lay said that the 55 million shares had been repurchased by Enron, as the company "unwound" its participation in the transactions. In the third quarter, the company's average number of shares outstanding was 913 million.
According to Rick Causey, Enron's chief accounting officer, these shares were contributed to a "structured finance vehicle" set up about two years ago in which Enron and LJM2 were the only investors. In exchange for the stock, the entity provided Enron with a note. The aim of the transaction was to provide hedges against fluctuating values in some of Enron's broadband telecommunications and other technology investments. Mr. Causey didn't elaborate on what form those hedges took.
Subsequently, both the value of Enron's stock and the value of the broadband investments hedged by the entity dropped sharply. As a result, Enron decided essentially to dissolve the financing vehicle and reacquire the shares. When Enron reacquired the shares, it also canceled the note it had received from the entity.
In addition, Enron was receiving increasing criticism from analysts and major shareholders concerning the apparent conflict of interest involving the role of its chief financial officer in the partnership, from which he stood to make millions of dollars. In July, Mr. Fastow formally severed his connections to LJM. Mr. Fastow has declined to be interviewed.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Business; Financial Desk
Markets Ford's Financial Fine-Tuning Leads to $692 Million Loss in 3rd Quarter Earnings: Sales incentives, production cutbacks hit company hard. CEO plans reorganizational moves.
Times Wire Services

10/18/2001
Los Angeles Times
Home Edition
C-4
Copyright 2001 / The Times Mirror Company

Ford Motor Co. had a third-quarter loss of $692 million because the second-largest auto maker cut production and offered zero-percent financing to draw car buyers into showrooms.
The loss of 38 cents a share, which compared with year-earlier net income of $888 million, or 53 cents, includes the cost of Ford's plan to sell its company-owned dealerships. Sales declined 9% to $36.55 billion.
Chief Executive Jacques Nasser, who already is eliminating as many as 5,000 salaried jobs by year-end, said he will make more moves to reorganize in December. Ford cut North American production 23% from the year-earlier quarter as a slower economy hurt demand and tighter U.S. border security disrupted supplies. Marketing expenses rose after Ford matched no-interest loans offered by rival General Motors Corp.
The Dearborn, Mich.-based company's shares, which slipped 55 cents to close at $17.13 on the New York Stock Exchange, have fallen 27% this year.
Excluding one-time items, Ford had a loss from operations of $502 million, or 28 cents a share, matching the average analyst forecast in a Thomson Financial/First Call survey.
The company's U.S. vehicle sales fell 11% through September, twice the industrywide decline. Its revenue declined from $40.06 billion in the year-earlier quarter. North American auto making operations had a third-quarter loss of $849 million, compared with year-earlier profit of $782 million.
Ford's fourth-quarter results will improve from the third quarter but "it will be difficult to earn a profit during the quarter," Chief Financial Officer Martin Inglis said on a conference call. The First Call average forecast that Ford will earn 6 cents a share is too high, he said.
At a Glance
Other earnings, excluding one-time gains or charges unless noted:
* Enron Corp., the largest energy trader, posted a $618-million loss in the third quarter after losing $1.01 billion on failed investments in water, telecommunications and retail energy sales.
The final loss was 84 cents a share after payment of preferred dividends, the Houston-based company said.
Net income in the year-earlier period was $292 million, or 34 cents. Revenue rose 59% to $47.6 billion.
Excluding the charges, Enron said it would have earned $393 million, or 43 cents a share, which matched the average estimate of analysts. Enron said it still expects to earn 45 cents a share in the fourth quarter.
* Defense contractor General Dynamics Corp. said third-quarter operating profit was $230 million, or $1.13 a share, up 13% from $204 million, or $1.02 a share, a year earlier.
Sales rose 22% to $3.02 billion.
But the company warned analysts not to boost their full-year earnings estimates beyond $4.50 a share.
* Linens 'n Things Inc., the home-accessories and housewares retailer, said third-quarter profit fell 20%, and fourth-quarter earnings will be at the lower end of analysts' estimates. Net income fell to $14.7 million, or 36 cents a share, from $18.4 million, or 45 cents, a year earlier. The company was expected to earn 37 cents. Sales 14% to $468.9 million.
* Office Depot Inc. said third-quarter profit rose 23% to $62.5 million, or 20 cents a share, from $50.6 million, or 16 cents, a year earlier. Office Depot said fourth-quarter profit may be 3 cents to 5 cents a share below the 20-cent average estimate of analysts.
* Drug giant Pfizer Inc. achieved double-digit earnings and revenue growth during the quarter, driven by strong sales of cholesterol treatment Lipitor.
Pfizer's operating profit jumped 28% to $2.19 billion, or 34 cents a share, a penny better than expected. Those figures exclude one-time costs, including those from Pfizer's acquisition of Warner Lambert.
Sales rose 10% to $7.90 billion.
* Philip Morris Cos., the biggest tobacco company, said third-quarter profit rose slightly as sales of premium brands such as Marlboro increased in the U.S. while declining currencies hurt results abroad.
Net income rose to $2.33 billion, or $1.06 a share, from $2.32 billion, or $1.03, a year earlier. Sales climbed 12% to $22.4 billion. The company said it will meet its previous full-year profit growth forecast of 9%.
Separately, the company said Chief Executive Geoffrey Bible plans to retire in 10 months at age 65. Under Bible, Philip Morris's five-year average annual profit growth is 9.3%, helped by sales of the No. 1 Marlboro brand cigarettes and the company's Miller Brewing and Kraft Foods Inc. businesses.
* Raytheon Co., maker of the Tomahawk missile used by U.S. forces in the attack on Afghanistan, posted a net loss after charges, as weakness in its commercial aerospace operations offset gains from military businesses.
Raytheon reported a net loss of $285 million, or 79 cents per share, compared with a profit of $105 million, or 31 cents, a year ago.
Those results include charges announced Wednesday from the company's Raytheon Aircraft unit, hurt by the Sept. 11 attacks' effect on the commercial air transport industry. Even excluding special items, operating earnings fell 10%, missing Wall Street's targets. Revenue fell 7% to $3.9 billion.
* TRW Inc., the largest U.S. maker of air bags, said third-quarter operating profit fell to $75 million, or 59 cents a share, compared with $91 million, or 73 cents, a year ago.
Sales fell 5% to $3.9 billion.
(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)
Earnings Reports
(tabular data not included)

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

UK: ANALYSIS-LME members survey hard choices ahead.
By Martin Hayes

10/18/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, Oct 18 (Reuters) - The London Metal Exchange (LME) faces stormy times a year after demutualisation as members ask where their future lies - with electronic screens, on an open-outcry trading floor or even in some other type of business.
The debate is happening as the global metals industry gathers in London for the LME's annual dinner week, which this year will be a subdued affair.
"LME week will struggle to surprise against a backcloth of military action in Afghanistan, dismal economic data, forlorn price sentiment and optimists rarer than hen's teeth," analyst Nick Moore of J.P. Morgan Securities said.
A veteran trader said, "It is going to be a less-populous affair this year. The people that have to do their annual deals will still be there, but we have noticed that people are not travelling unless they have to."
The downturn in the economic cycle has hit the world's largest non-ferrous metals market hard. Years of volume growth have ended, prices have fallen to lows and shrinking revenues and commissions have pared many brokers' profits.
MitsuiBussan has scaled back activities and no longer makes markets, ScotiaMocatta has left the floor and blue-blooded N.M. Rothschild has simply quit the non-ferrous metals business.
THE WAY TO TRADE
LME trading remains dominated by the price discovery mechanism of the open-outcry official rings, but electronic systems have made deep inroads over the past year.
"The trade is rapidly being condensed into the three screen mediums. Enron , Spectron and LME Select," a director at one broker said.
Traders said screens had almostly completely superseded the telephone market during inter-office sessions as narrower buy/sell quotes in larger markets were available on the highly transparent screens.
"What that has done is to perfect the pricing mechanism - it has flattened out some of the volatility from the market. This has cut the brokers' margins, but at the same time their overheads are constant - they have to pay for screens and to run a floor operation," the director said.
Screen trading volumes still represent only a small proportion of total daily turnover, but earlier this week the LME reported a record daily turnover of 10,483 lots on the Select system - by far the highest since the screens were switched on in February.
"We are working hard to ensure that LME Select becomes the electronic trading system of choice for our members," LME Chief Executive Simon Heale said.
However, senior traders said that once volumes started to increase on screens, electronic turnovers could explode - as had happened on other exchanges. That could force the issue for the LME as it continued to offer three methods of trading - screens, telephones and open-outcry.
"Despite the LME's resistance, the world is turning to screens. The IPE (International Petroleum Exchange) is going that way, and in the U.S. that pattern is being seen as well," another senior trader said.
INCENTIVES
Traders said open-outcry trading would wither away unless the LME acted to make it more attractive to existing participants and potential new entrants.
"They should be thinking about giving discounts to people on the ring. Maybe they should also approach some of the big off-market players and find out what would entice them to become RDMs (ring dealing members)," the veteran trader said.
In Europe, other than the LME only the IPE has an open-outcry floor, and that will close next year.
The RDMs of the LME are trying to fight back - in 2000 they extended the open-outcry sessions by carrying on business through an early-afternoon recess.
But after ScotiaMocatta Metals decided to call a halt to executing business on the floor this week RDM numbers have dwindled to just 11.
"It is a structural problem as there is just not enough income on the ring. We are almost getting to a 'last man standing' situation. If we drop under 10 there is a danger the ring may just implode," the senior trader said.
The ranks of associate broker clearer members (ABCMs) are expanding. These firms have all the benefits of LME membership, but cannot trade during the open-outcry sessions.
This week, South Africa's Investec Group joined as an ABCM, bringing the total of this membership tier to 26. Another sizeable bank is pondering whether to join, but only as an ABCM.
"It would be good if someone else came down, but who is going to spend money recruiting a team - clerks, support staff, back office and so on? It is best to go for a small team using screens - the LME needs to either cut our costs or make it less easy to go off-market," a senior floor trader said.

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

Maharashtra to challenge London court order on DPC
Our Bureau

10/18/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

THE MAHARASHTRA government has decided to challenge the injunction order issued by the commercial court in London restraining the state from filing suits against the Dabhol Power Company (DPC) in India. The DPC had obtained the injunction on October11.
The state government has decided to challenge the order as we feel that the concerned court should have heard the state as well. Within a week we would be presenting our case, the state chief minister Vilasrao Deshmukh said here on Wednesday.
The ex-parte order relates to arbitration proceedings between the state government and DPC with respect to state guarantee, state support and supplemental state support agreements.
It prevented the state government from taking any legal action in India, challenging the international arbitration proceedings initiated by DPC. Mr Deshmukh today also reiterated his governments resolve not to draw electricity from DPC.
There is no logic in buying DPC power at higher rate and selling it with much lower rates, Deshmukh said. According to Deshmukh, due to recent rainfall, the demand for electricity has gone down considerably and the state electricity board is supplying power without interruption.
Meanwhile, the government today expressed its resolve to initiate a judicial probe into the entire Enron deal. The probe would begin in few weeks , Deshmukh said. The state has already requested the Chief Justice of the Mumbai High Court to appoint a judge for the probe.

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

India: Enron: Maharashtra to move London court in a week

10/18/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, Oct. 17 MAHARASHTRA will move the Commercial Court of London "within a week" against the injunction obtained by Enron's Dabhol Power Company (DPC) restraining the State from challenging international arbitration initiated by DPC in any Indian court, the Chief Minister, Mr Vilasrao Deshmukh, told newspersons.
He was speaking at a post-cabinet meeting press conference here on Wednesday. The Enron-promoted DPC had obtained the ex-parte order on October 11, 2001. The State Government had 23 days to respond to the order.
The arbitration panel has been constituted for some time now and proceedings were expected to begin any time. However, the proceedings could not take off as a dispute over the jurisdiction of the Maharashtra State Electricity Regulatory Commission had dragged on to the Mumbai High Court and then the Supreme Court. Both the courts had restrained DPC from continuing international arbitration pending resolution of the MERC jurisdiction issue.
The Chief Minister also said the appointment of a retired Supreme Court judge to head the judicial probe into the power purchase agreement with Enron would also be completed in a week's time.
Our Bureau

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

India: GAIL keen on Dabhol LNG terminal project

10/18/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

NEW DELHI, Oct. 17 GAS Authority of India Ltd (GAIL) has written to both the Petroleum Ministry and the Power Ministry evincing interest in the 5 million tonnes per annum (mmtpa) LNG regassification terminal of the Dabhol Power Company, according to Government officials.
In a recent communique to the two Ministries, it has asked the financial institutions to set up a meeting to enable it review the financial details of the LNG project. The financial data on the LNG project solely rests with Bechtel, GE and Enron.
As a first step towards examining the financial data, GAIL will require to enter into a confidentiality clause agreement with the present project sponsors to access the data.
Meanwhile, the financial institutions are awaiting the results of political parleys between the Centre and the Maharashtra Government towards bringing the latter into a 'solution finding' mode to implement a financial restructuring package and resolve the Dabhol crisis.
Once this is done, the FIs will freeze the financial package - involving sacrifices undertaken by the present stakeholders - and again elicit market response towards bettering the Tatas' proposition.
Although the FIs had earlier scouted the market and found only the Tatas evincing interest in the project, it would again offer the Dabhol project to the market to ensure that the concessions on the part of the State are not awarded on a nomination basis.
The foreign lenders have pointed out that they would not be agreeable to the domestic FIs spearheading the salvage operation finally resulting in transfer of ownership of the power plant. Hence, the Government is mulling a high-level committee to implement the process leading to transfer of ownership.
Balaji C. Mouli

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

FERC To Discuss Possible Changes To West Pwr Price Caps
By Jason Leopold and Andrew Dowell

10/17/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

OF DOW JONES NEWSWIRES

LOS ANGELES -(Dow Jones)- Federal energy regulators said this week they will discuss possible changes to price controls the agency imposed on western wholesale power markets in June.
Western utilities complained that the price controls, based on the price of generating power in California, aren't appropriate for the entire region. In particular, demand in the Northwest rises sharply in the winter, while California's power demand and cost are typically highest in the summer.
The Federal Energy Regulatory Commission said in a notice its Oct. 29 meeting discussions could include an elimination of the 10% premium allowed for sales into California and changes to the way the price caps are adjusted.
The price cap is set at about $92 a megawatt-hour and is calculated by taking the 85% of the most expensive hourly price during the most-recent Stage 1 power emergency in California, when operating reserves fall below 7%.
Gov. Gray Davis lobbied hard for FERC to impose price caps throughout the entire western U.S., saying generators would sell their power to other western states if California were the only state with price controls.
"The governor would be very disappointed if FERC contributed to additional economic uncertainty, particularly in these troubling times" if the agency were to lift the price restrictions, said Steve Maviglio, a spokesman for Davis.
Last summer, Sierra Pacific Resources (SRP) unit Nevada Power was forced to initiate rolling blackouts to a small number of customers for about 45 minutes because of the new price caps imposed on the market by FERC and blistering heat, said Paul Heagen, Sierra Pacific's chief spokesman.
In addition, some generators, including a unit of Enron Corp. (ENE), scrapped plans to build small power plants, the so-called peaking units used when demand for electricity is at its highest, in the western U.S. because of the price controls.

-By Jason Leopold and Andrew Dowell, Dow Jones Newswires; 323-658-3874; jason.leopold@dowjones.com

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


Bitching is what I do, so I will continue to bitch.  Please look us up some
sports bar near Texarkana so I can watch some NFL action after I kick your
butts at golf.  Long live the Beaver!!!  Mark, your driving right...I think
we need to leave at 4 am or so to make it to the border.

Smooches.

----- Original Message -----
From: "Martinez, Ernesto Jr" <martier@cpchem.com>
To: "Mark Molnar" <MarkM@cajunusa.com>; "'Kevin'" <klyn@pdq.net>;
<Wolphguy@aol.com>; <Frthis@aol.com>; <siva66@mail.ev1.net>;
<Rs1119@aol.com>; <Dutch.Quigley@enron.com>; <john_riches@msn.com>;
<jramirez@othon.com>; <bwdunlavy@yahoo.com>
Sent: Wednesday, November 07, 2001 6:46 PM
Subject: Why Kingwood?

> Please read the message below (from Mark).  He asked about it, I looked it
> up and got us a tee time.  If anybody wants to get a tee time somewhere
> else, that is fine with me.  Just let me know so that I can cancel the tee
> times in Kingwood.
>
> With Richard playing and the boys from Austin playing, I think that
Kingwood
> is a happy medium.  We could try Brock park if that's what you guys want.
> Who the hell lives by Brock?  I actually think that the drive to Kingwood
is
> better than the drive into 5th ward or whatever ward it is.
>
> I don't mind making a drive to play in Austin or Beaumont or Katy.  It's
> golf!!!!
>
> The DOG!
>
> -----Original Message-----
> From: Mark Molnar [mailto:MarkM@cajunusa.com]
> Sent: Wednesday, November 07, 2001 2:36 PM
> To: frthis@aol.com; wolphguy@aol.com; martier@cpchem.com;
> siva66@mail.ev1.net
> Subject: RE: seeing as mark won't answer my e-mails....
>
>
> I heard an add on 610 for Kingwood Cove or something.  Do you have time to
> check it out?
>
> >>> "Martinez, Ernesto Jr" <martier@cpchem.com> 11/07/01 02:26PM >>>
>
> No.  They have a tournament on Sunday morning.  Their first available tee
> time is 1:15.
> Damn, and I was hoping Mark would wear his Hillrod wig.
>
> Sorry, any other suggestions?
>
> -----Original Message-----
> From: siva66
> To: wolphguy@aol.com; martier@cpchem.com; siva66@mail.ev1.net; Mark Molnar
> Sent: 11/7/01 12:49 PM
> Subject: RE: seeing as mark won't answer my e-mails....
>
> did we get tee times?
>
>
> ---------- Original Message ----------------------------------
> From: "Mark Molnar" <MarkM@cajunusa.com>
> Date: Wed, 07 Nov 2001 08:43:35 -0600
>
> >Ernie, can you call and get us a few tee times at the Crosby
> Country Club.  Sounds like imbreedville to me, but let's give it a
> try.
> >
> >>>> "siva66" <siva66@mail.ev1.net> 11/07/01 08:27AM >>>
> >that sounds good to me, everyone else agree?  we also need a head
> >count, and ernie before long you'll take your usual position
> >bringing up the rear.  once again, mark will not answer my e-
> >mails......
> >
> >
> >---------- Original Message ----------------------------------
> >From: "Martinez, Ernesto Jr" <martier@cpchem.com>
> >Date: Tue, 6 Nov 2001 19:40:12 -0600
> >
> >>Sunday morning is good for me.  As much as me and my colon will
> >miss "Brock
> >>Dogs", I wouldn't mind another course.  There is a pretty nice
> >course in
> >>Crosby (Newport Country Club) which would be accomodating for
> the
> >blues man
> >>(Richard).  The shorter drive for him ensures that he doesn't
> get
> >too much
> >>ass time which in turn allows me to kick more of it later that
> >day.  Their
> >>weekend rate is $25.  They usually have an ad in the Chronicle
> >Sports
> >>section.
> >>
> >>For once in my life, all of you are looking UP to me!!!!!
> >>
> >>-----Original Message-----
> >>From: Mark Molnar [mailto:MarkM@cajunusa.com]
> >>Sent: Tuesday, November 06, 2001 2:28 PM
> >>To: wolphguy@aol.com; martier@cpchem.com;
> Dutch.Quigley@enron.com;
> >>ras1119@hotmail.com; siva66@mail.ev1.net; jramirez@othon.com;
> >>klyn@pdq.net; bwdunlavy@yahoo.com
> >>Subject: Re: seeing as mark won't answer my e-mails....
> >>
> >>
> >>Sunday it is.  Let me know where ya'll want to play.  Treeline
> is
> >right by
> >>my house, but we don't have to go there.  Somewhere in a central
> >location
> >>for everyone is fine.  Throw out some names.  Early is good,
> that
> >way we can
> >>watch my fantasy football kick someone's ass.
> >>
> >>Mark Molnar
> >>Cajun Constructors, Inc.
> >>
> >>
> >>>>> "Kevin" <klyn@pdq.net> 11/06/01 11:47AM >>>
> >>I thought we were all going somewhere on Sunday??? Mark???
> >>
> >>----- Original Message -----
> >>From: "Joe Ramirez" <jramirez@othon.com>
> >>To: <siva66@mail.ev1.net>; <bwdunlavy@yahoo.com>;
> ><Dutch.Quigley@enron.com>;
> >><martier@cpchem.com>; <wolphguy@aol.com>; <MarkM@cajunusa.com>;
> >><ras1119@hotmail.com>; <klyn@pdq.net>
> >>Sent: Tuesday, November 06, 2001 11:09 AM
> >>Subject: RE: seeing as mark won't answer my e-mails....
> >>
> >>
> >>> I am in. What day? What time? Where? Can we get out there
> early?
> >>>
> >>> -----Original Message-----
> >>> From: siva66 [mailto:siva66@mail.ev1.net]
> >>> Sent: Tuesday, November 06, 2001 10:57 AM
> >>> To: bwdunlavy@yahoo.com; Dutch.Quigley@enron.com;
> >martier@cpchem.com;
> >>> wolphguy@aol.com; jramirez@othon.com; MarkM@cajunusa.com;
> >>> ras1119@hotmail.com; klyn@pdq.net
> >>> Subject: seeing as mark won't answer my e-mails....
> >>>
> >>> is anyone up for some golf this weekend?
> >>>
> >>> ricardo
> >>>
> >>>
> ________________________________________________________________
> >>> Sent via the EV1 webmail system at mail.ev1.net
> >>>
> >>>
> >>>
> >>>
> >>>
> >>
> >>
> >
> >
> >________________________________________________________________
> >Sent via the EV1 webmail system at mail.ev1.net
> >
> >
> >
> >
> >
> >
>
>
> ________________________________________________________________
> Sent via the EV1 webmail system at mail.ev1.net
>
>
>
>


Thanks!!!!!  Should I just look in the phone book?

M

From: Elizabeth Sager@ECT on 11/27/2000 01:44 PM
To: Michelle Robichaux/HOU/EES@EES
cc:
Subject: landscape

Sorry for the delay but here it is  - A good landscape architect in the
Heights is Pam August (husband name Todd) who lives on Cortdlandt (sorry no
number) between 7th and 8th.


Kim,
 Please review this draft.  I have not modified any language from the Enfolio
to that contained in the draft of their form of contract which you forwarded
to me last week.  I will read their long form and see if it makes sense to
include their language.  Remember, in their short form, they had language for
short breaks which was slightly diffent from ours but with a little torture,
we could have incorporated their language once we got over the hurdle that we
can't agree to let them audit our contracts,  which means we could never show
them what we got for the default quantity.


<<5-21-01.pdf>>
Richard Costigan, III
Chief of Staff
Office of the Assembly Republican Leader
California State Assembly
Phone:(916) 319-2005

 - 5-21-01.pdf


In a message dated 11/13/01 11:09:14 PM Pacific Standard Time, Michelle.Cash@ENRON.com writes:
          I was informed by John Blaylock that part time employees
are not eligible for severance benefits.
Section 2.1 of the Plan states in part that all regular full time active employees of Enron or participating employer in the Plan are eligible to receive the severance benefit.
Eligibility does not mean entitlement.  The rest of the Plan describes entitlement.
Pat


----- Forwarded by Lance Schuler-Legal/HOU/ECT on 08/02/2000 06:50 PM -----

	"Dilg, Joe" <jdilg@velaw.com>
	08/02/2000 06:37 PM

		 To: "'mklepper@skadden.com'" <mklepper@skadden.com>,
"'jtindell@skadden.com'" <jtindell@skadden.com>, "'lbrasher@skadden.com'"
<lbrasher@skadden.com>
		 cc: "Schuler, Lance (Enron)" <lance.schuler-Legal@enron.com>, "Joor, William
E., III" <wjoor@velaw.com>, "Shouse, August" <AShouse@velaw.com>, "Barber,
Shelley" <SBarber@velaw.com>, "Martin, J. Clark" <cmartin@velaw.com>
		 Subject: Name License Agreement

 <<287956_1.doc>> Marty, attached is another version of the license
agreement marked to indicate a few additional changes suggested by our
client. Joe Dilg

 - 287956_1.doc


I won't charge you.

MC

 -----Original Message-----
From: 	Davis, Dana
Sent:	Friday, September  21, 2001 8:26 AM
To:	Cruz, Magdelena
Subject:	RE: Excel Class

Will sending these materials be charged to my cost center?

 -----Original Message-----
From: 	Cruz, Magdelena
Sent:	Friday, September 21, 2001 8:07 AM
To:	Davis, Dana
Subject:	RE: Excel Class

At this time, we are not having an Excel Intro class during the below week...if you would like to learn it on your own, I can send you the book and exercise files that are given in class.

Let me know if you would like that.

Maggie
 -----Original Message-----
From: 	Traylor, Donnis
Sent:	Thursday, September  20, 2001 3:33 PM
To:	Cruz, Magdelena; Presas, Gracie S.
Subject:	FW: Excel Class

 -----Original Message-----
From: 	Davis, Dana
Sent:	Thursday, September 20, 2001 3:29 PM
To:	ISC Registrar
Subject:	Excel Class

I was wondering if there would be an Intro Excel class anytime during the week of Oct. 8 - 12th.


Tom,

I have energy estimates for May 2002 attached. Graph 1 is site totals, graph
2 is (total lost)/(total actual production) where total actual production is
taken from the kWh reported in the owner report, and graph 3 is the by
turbine distribution (using box plots) of energy lost.

The energy lost estimation method I employed is susceptible to problems with
data recovery (10-minute data), which in May 2002 was especially poor at
Klondike and Fenner, so those number are not as informative as those for the
other sites.

If these graphs provide you the information you need, I will continue with
the remaining months (Jan - Apr). Otherwise let me know and we'll refine this
process to get you what you need.

Mark


Please respond to Sivy on Stocks SIVY ON STOCKS from money.com
May 14, 2001

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Supersize this stock!

For six months, McDonald's has been battered by nonstop bad news. Now the
outlook is improving and the stock appears poised for a strong rebound.

By Michael Sivy

Since last fall, McDonald's has been hit with one problem after another.
The weak U.S. economy has been bad enough. But since half the company's
sales and operating profits come from overseas, McDonald's has been
severely hurt by the weak euro and the renewed scares about mad-cow disease
and hoof-and-mouth disease, which have reduced European beef consumption.
Finally, though, the outlook appears to be improving. Earnings trends may
remain unfavorable through the summer, but by the fourth quarter, business
should be back on track. That should mean a big payoff for contrarians who
scoop up McDonald's [MCD] today at prices just a few dollars above the
stock's 52-week low.

I last recommended the stock in December at $31 a share. At that price, 35
percent below the record high set in 1999, McDonald's looked like a great
value play, and the stock rallied 12 percent going into January. But it
began slipping back as soon as it became evident that business would not
immediately turn around. In fact, earnings per share fell 12 percent in the
first quarter.

Basically, McDonald's has been beset by a string of problems that have been
compounded by poor management choices. The first is the economic slowdown
in the U.S., which has depressed growth in same-store sales. In addition,
the company has relied too much on promotions and other marketing gimmicks,
which haven't been working well in the tougher economy.

More serious, however, has been the falloff in profits from foreign sales,
particularly in Europe. To compensate for the decline in beef consumption
and the chronically weak euro, which has reduced the dollar-value of
profits earned in Europe, McDonald's has been increasing the pace of
new-store openings. But that has only undercut existing stores, and
profitability has suffered.

Fortunately, those problems are all transient. As the U.S. economy picks up
again, domestic results should improve -- particularly if McDonald's is
successful with innovations such as cafes that offer Italian-style coffee
at prices cheaper than Starbucks charges.

International results should improve as the company diversifies its menu to
offer a wider range of non-beef items. But the key to better European
results is a revival in beef consumption, and a rebound in the euro, which
is likely after coins and bills actually start circulating in January. And
already, there is evidence that the beef scare has peaked and that
consumers are starting to order more burgers.

There's no question that McDonald's stock is cheap. The shares trade at 17
times earnings, compared with multiples that have been regularly in the
mid-20s since 1996. True, the rebound has taken longer than I expected. But
I think that we'll see earnings growth pick up toward year-end, and then
continue at a 12 percent-plus compound rate over the next five years. In
addition, the P/E should rise once it's clear that prospects are improving.
That combination should make McDonald's an above-average holding for
patient conservative investors.

###

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1) re: revised project sched - plz see attached file.
updated scheds for both gtgs and hrsgs based on conversations today with s&s,
and nooter/deltak, respectively.
for the gtgs, time period from order to ex-works is 17 months.
for hrsgs, time period from order to ex-works is also 17 months.

with "delay" in ordering major equipment until funds released in mid-nov01,
the project's cod is delayed until april04; represents a worsening of the
schedule by 10 months.

2) re: revised capex/o&m numbers.
 - by cob friday, 16mar01:
  - complete revised sched.  status - attached.
  - complete scope reconciliation.  status - completed with pb power's john
mesko on thursday, 15mar01.
 - complete revised puts/takes to existing benchmark analysis, with 1 x
lm2500 and 1 x lm6000, including detailed listing of assumptions.  develop
preliminary assessment of "cap."  status - to complete fri am, 16mar01.
  - complete cash flow analysis.  status - by mark brand.

 - by noon monday, 19mar01.
  - complete var assessment of model by mid morning at latest.  status - by
mark brand.
  - finalize "cap" level.  status - pending.
  - provide filled in template to jeff ader for approval to send to pb
power/co-op city.  status - pending.
 - send info to pb power/co-op city by noon.  status - pending.  plz note
that client has adjusted sched to allow 1 days review of data by co-op board
before their formal meeting on tues, 20mar01.

plz call with any questions.

regards.  scott.