Stocks Close Higher As Investors Cheer Earnings News
Dow Jones Business News- 10/22/01
Enron Faces Holder Suit From Fincl Chief Pacts
Dow Jones News Service- 10/22/01
Shapiro Haber & Urmy Files Class Action on Behalf of Purchasers of Enron Corporation Stock (NYSE: ENE) in The Period From July 13, 2001 Through October 16, 2001
PR Newswire- 10/22/01
Enron Board Approved Partnerships Run by Chief Financial Officer
PR Newswire- 10/22/01
USA: UPDATE 3-SEC looks into Enron deals, stock slides 20 pct.
Reuters English News Service- 10/22/01
Enron shares plunge 20 percent after acknowledging SEC inquiry
Associated Press Newswires- 10/22/01
STOCKWATCH Enron lower after SEC questions transactions; AG Edwards downgrades
AFX News- 10/22/01
Enron Corp. Information requested by SEC.
Regulatory News Service- 10/22/01
Enron Shares Slide as SEC Seeks Information on Deals With CFO's Partnership
Dow Jones Business News- 10/22/01
Enron Says SEC Asks About Related-Party Transactions (Update8)
Bloomberg- 10/22/01
UniPrime Signs Letter of Intent for Wind Energy Park Project
Business Wire- 10/22/01

Stocks Close Higher As Investors Cheer Earnings News
By Peter Edmonston

10/22/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
The Wall Street Journal Online
Stocks rallied sharply Monday despite the widening anthrax scare, as a batch of better-than-expected quarterly earnings reports cheered investors.
The Dow Jones Industrial Average gained 172.92, or 1.9%, to close at 9377.03 after gaining 40.89 points Friday. The Nasdaq Composite Index rose 36.75, or 2.2%, to 1708.06 after climbing 18.59 points in the previous session.
Other major stock indexes gained ground Monday. The Standard & Poor's 500-stock index added 16.42 to 1089.90, the New York Stock Exchange Composite Index rose 7.13 to 561.45, and the Russell 2000 Index gained 4.80 to 430.50.
Bonds were mixed and the dollar strengthened.
The stock market's gains were tempered briefly by news that a postal worker in Washington, D.C., was diagnosed with anthrax contracted by inhalation. Additionally, two other postal workers in Washington have died and their deaths are being investigated to determine if they died of that same ailment.
But stocks took the anthrax reports in stride, suggesting a new and surprising level of confidence among market participants, some analysts said Monday. "The market is really shrugging off this news," said Mark Donahoe, a managing director at U.S. Bancorp Piper Jaffray.
Upbeat earnings news from American Express, released Monday afternoon, seemed to give stocks an additional lift.
Investors may be shifting their focus away from concerns about anthrax exposure and U.S. military maneuvers in Afghanistan to take a closer look at quarterly earnings results, said Steven Kroll Sr., managing director at Monness, Crepsi & Hardt.
The uncertainty on the global front "looks like it is going to be a long, drawn-out affair," Mr. Kroll said. "I think stocks will revert back to being earnings-driven."
Although dismal by ordinary standards, last week's flood of quarterly earnings reports got a reasonably upbeat reception from investors, who seem to have approached them with extremely low expectations. "The markets acted pretty well last week in light of some very ugly earnings," said Mr. Donahoe of U.S. Bancorp. That resilience might be giving hope to investors this week, he added.
Still, investors will be carefully sifting through quarterly results in the coming week to get a fix on how the fourth quarter is shaping up, Mr. Kroll argued.
Third-quarter earnings showed several pockets of strength on Monday, with big companies such as Minnesota Mining and Manufacturing and U.S. Steel posting results that met or topped analysts' estimates.
The Dow industrials got an additional boost shortly after 2 p.m. EDT when index component American Express reported earnings that, excluding certain items, beat Wall Street previously lowered estimates.
The financial-services concern posted net income of $298 million, or 22 cents a share, down 60% from $737 million, or 54 cents a share, a year earlier. Excluding charges related to a corporate restructuring and the September 11 attacks, American Express said it would have earned $595 million, or 45 cents a share, for the latest quarter. Analysts had been expecting earnings of 30 cents a share, according to Thomson Financial/First Call.
Shares of American Express surged after the quarterly earnings release, closing up 3.4% at $30.32.
Chip stocks helped lead the Nasdaq composite higher, with the Philadelphia semiconductor index gaining 5.4%. The rally seemed to be a continuation of Friday's gains in the sector, sparked by positive earnings news from KLA-Tencor.
U.S. Steel, the nation's No. 1 steelmaker, said it swung to a third-quarter loss from a profit a year earlier, hurt by oversupply and a weak economy. But excluding charges related to the closure of one mill and damage at another, U.S. Steel said its loss was much narrower than what was forecast by analysts surveyed by Thomson Financial/First Call. Shares of U.S. Steel rose 9.7% to $14.74.
Investors also sent 3M shares nearly 5% higher after the maker of chemical and adhesive products squeaked by Wall Street estimates, despite a 21% decline in net income. And oil producers Conoco and USX-Marathon Group handily beat analysts' forecasts.
But not all the earnings news was cheery. Local phone company SBC Communications recorded net income that was slightly below estimates. Shares of SBC, a component of the Dow industrials, fell 5.1% to $41.40.
Meanwhile, the outlook for corporate profits in the fourth quarter seems discouraging, some analysts noted. On Monday, 3M guided Wall Stret's earnings expectations lower for the upcoming quarter, and a top executive at U.S. Steel told analysts that the company's fourth quarter would be "difficult."
Companies "are meeting third quarter expectations, but they are talking down the fourth quarter," said Mr. Kroll of Monness Crespi & Hardt. He said that some of the rise in Monday's markets might be a carryover from Friday's buying activity related to the expiration of U.S. stock option and index option contracts, an event known as "double witching."
One of the hardest-hit stocks on Monday was Enron, an energy concern that said that the Securities and Exchange Commission was seeking information about certain complex transactions it undertook with a limited partnership organized by its chief financial officer. Shares of Enron plunged 21% to $20.65.
Overseas, stocks closed higher. London's Financial Times-Stock Exchange 100-Share Index gained 1.1%, while Frankfurt's Xetra DAX index rose 2%. Earlier in the day, Japan's Nikkei 225 average closed with a gain of 0.3%, but Hong Kong's Hang Seng Index ended 0.3% lower.
In economic news, the Conference Board reported that its index of leading indicators for the month fell 0.5% in September, matching the estimates of economists surveyed by Thomson Global Markets. The index -- a composite of measurements aimed at forecasting likely changes in the economy -- included some data gathered after the Sept. 11 attacks.
The decline, which was the index's largest one-month drop since January 1996, confirmed that the widespread weakness in the U.S. economy is deepening, the Conference Board said. Falling stock prices and rising initial unemployment claims were two of the index components that contributed most negatively to the September reading.
In August, the leading-indicators index slipped 0.1%, less than the previous estimate of a 0.3% decline. Even so, the back-to-back declines paint a bleak economic picture, said Conference Board economist Ken Goldstein.
The two-month decline in the index suggests that the already-weak economy is likely to remain weak into next year, Mr. Goldstein said. The overall reading from these numbers indicates that manufacturing and services are experiencing a significant slowdown.
In major U.S. market action:
Stocks rose. On the Big Board, where 1.09 billion shares were traded, 1,813 stocks rose and 1,291 fell. On the Nasdaq, 1.49 billion shares changed hands.
Bonds were mixed. The 10-year Treasury note rose less than 1/16 point Monday, or 62.5 cents for each $1,000 invested. The yield, which moves inversely to its price, fell to 4.618%. The 30-year bond fell 1/16 point to yield 5.364%.
The dollar rose. The dollar bought 122.56 yen, compared with 121.20 yen late Friday. The euro traded at 89.18 U.S. cents, down from 89.84 cents late Friday.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Faces Holder Suit From Fincl Chief Pacts

10/22/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- A shareholder of Enron Corp. (ENE) filed a derivative suit in Texas court alleging that Enron's board breached their fiduciary duties to the company by allowing Chief Financial Officer Andrew Fastow to create and run certain limited partnerships.
In a press release Monday, a law firm representing the unnamed shareholder said that Enron's board lost over $35 million by allowing Fastow to run these partnerships, which engaged in transactions with Enron and presented a conflict of interest.
The suit alleges that the limited partnerships bought Enron assets, permitting Fastow to use his inside knowledge of the company's financial condition to earn millions of dollars.
On Oct. 16, Enron announced that it will take a $35 million charge relating to the limited partnerships and revealed that the company had to repurchase 55 million of its shares in order to unwind its involvement in the partnerships, thereby reducing the company's shareholder equity by $1.2 billion.
On Monday, Enron said the Securities and Exchange Commission recently requested additional information regarding the limited partnerships.
On Oct. 19, The Wall Street Journal reported that Fastow, and possibly a handful of partnership associates, realized more than $7 million last year in management fees and about $4 million in capital increases on an investment of nearly $3 million in the partnership, which was set up in Dec. 1999 principally to do business with Enron.
Fastow has been finance chief of Enron since 1997 and has been with the firm 11 years, which included extensive work setting up and managing company investments.
Enron's New York Stock Exchange listed shares fell to a 52-week low on Monday following news that the SEC requested additional information.
A spokeswoman from Enron said the company has not seen the lawsuit and it does not comment on pending litigation.
-Thomas Gryta; Dow Jones Newswires; 201-938-5400

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Shapiro Haber & Urmy Files Class Action on Behalf of Purchasers of Enron Corporation Stock (NYSE: ENE) in The Period From July 13, 2001 Through October 16, 2001

10/22/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)
BOSTON, Oct. 22 /PRNewswire/ -- The law firm of Shapiro Haber & Urmy LLP has filed a class action suit alleging securities fraud in the United States District Court for the Southern District of Texas (Houston Division), 515 Rusk Ave., Houston, Texas 77002, against Enron Corporation ("Enron") (NYSE: ENE) and certain of its officers and directors.
The case was filed on behalf of all purchasers of the common stock of Enron during the period from July 13, 2001 through October 16, 2001, inclusive (the "Class Period").
The complaint alleges that the defendants violated section 10(b) of the Securities Exchange Act of 1934 ("the Exchange Act"), and Rule 10b-5 promulgated thereunder, and that defendants' wrongful conduct artificially inflated the price of Enron common stock during the Class Period. The complaint charges that the defendants misrepresented and concealed material facts concerning the Company's financial transactions with two partnerships established by Enron's Chief Financial Officer, which resulted in substantial losses to Enron and a reduction in shareholders' equity of over $1 billion. The price of Enron's common stock plummeted over 20% in just three trading days following disclosure of the financial losses resulting from Enron's dealings with these partnerships.
Plaintiff seeks to recover damages suffered by class members and is represented by the law firm of Shapiro Haber & Urmy LLP, which has successfully prosecuted numerous securities class actions on behalf of defrauded investors. More information about the firm and its qualifications is available on the firm's website at www.shulaw.com.
If you are a member of the class described above, you may wish to join the action. You may move the court to serve as a lead plaintiff no later than December 21, 2001.
If you would like a copy of the complaint, would like to discuss joining this action as a lead plaintiff, or would like to inform us that you are a member of the proposed class, please contact Thomas G. Shapiro, Esq. or Liz Hutton, paralegal, Shapiro Haber & Urmy LLP, 75 State Street, Boston, MA 02109, (800) 287-8119, fax at (617) 439-0134, or e-mail at cases@shulaw.com.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X66791593

/CONTACT: Thomas G. Shapiro, Esq. or Liz Hutton, paralegal, Shapiro Haber & Urmy LLP, +1-800-287-8119, cases@shulaw.com/ 16:54 EDT

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Board Approved Partnerships Run by Chief Financial Officer

10/22/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)
NEW YORK, Oct. 22 /PRNewswire/ -- An Enron (NYSE: ENE) shareholder has filed a derivative suit in Texas state court which charges that Enron's board of directors breached their fiduciary duties to the Company by allowing its CFO, Andrew Fastow to create and run certain limited partnerships. The Enron board lost the Company over $35 million by allowing Fastow to run these partnerships, which engaged in transactions with Enron and presented a clear conflict of interest for the Enron CFO.
In addition to other transactions, the limited partnerships bought Enron assets, permitting Fastow to use his inside knowledge of the Company's financial condition to earn millions of dollars for himself and the limited partnerships. On October 16, 2001 the Company announced that it would take a $35 million charge relating to the limited partnerships. It was also revealed that the Company had to repurchase 55 million of its shares in order to unwind its involvement in the partnerships, thereby reducing the Company's shareholder equity by $1.2 billion.
On October 22, 2001, the Company announced that the SEC recently requested additional information regarding these limited partnerships.
If you would like additional information regarding this lawsuit, you may contact Murielle Steven Walsh at Pomerantz Haudek Block Grossman & Gross LLP, New York, New York, 888-476-6529 ((888) 4-POMLAW) or mjsteven@pomlaw.com.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X60348122

/CONTACT: Murielle Steven Walsh, Esq. of Pomerantz Haudek Block Grossman & Gross LLP, +1-888-476-6529 (+1-888-4-POMLAW), mjsteven@pomlaw.com/ 15:41 EDT

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: UPDATE 3-SEC looks into Enron deals, stock slides 20 pct.
By David Howard Sinkman

10/22/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Oct 22 (Reuters) - Shares of Enron Corp. slumped more than 20 percent on Monday after it said U.S. regulators are looking into company transactions, another blow to a company whose chief executive resigned in August.
A spokesman for North America's biggest buyer and seller of natural gas and electricity declined to discuss an inquiry by the U.S. Securities Exchange Commission, but said it was cooperating. The SEC also declined to outline details of its inquiry.
Investor confidence in the company has been rocked by reports from The Wall Street Journal about its relationship with two limited partnerships that were run until recently by Enron's chief financial officer, Andrew Fastow. The company also reported last week its first quarterly loss in more than four years, and took $1.01 billion in charges and writedowns on ill-fated investments.
Problems at Enron surfaced two months ago when CEO Jeff Skilling resigned after only six months at the helm.
Enron shares declined $5.49, or 21 percent, to $20.56 in Monday afternoon trade on the New York Stock Exchange, shaving off almost $4.2 billion of its market capitalization. The stock, the biggest decliner by percentage loss on the NYSE, fell as much as 22.8 percent on Monday, when it opened at its lowest level since September 1998.
Shares declined 23 percent last week after the Journal ran its first story about the limited partnerships on Wednesday.
Enron declined to comment on whether the SEC's inquiry into "certain related party transactions" involved the partnerships.
"Related party transactions" is the heading used by Enron in its 1999 and 2000 annual reports to discuss dealings with its limited partnerships, LJM Cayman LP and the larger LJM2 Co-Investment LP, which engaged in complex hedging transactions involving company assets worth hundreds of millions of dollars.
Fastow severed his ties to the partnerships in June. LJM was set up in June 1999 for energy-related investments, and LJM2 in December 1999 for energy-and communication-related investments.
The Journal reported $35 million of its third-quarter loss of $638 million were connected with the limited partnerships
Curt Launer, an analyst at Credit Suisse First Boston, said investors should question Enron's use of real value accounting when the value of certain assets, "most notably in telecommunications," have declined precipitously.
"Investors have had several opportunities to question Enron's credibility and at each of those turns the share price has declined," Launer said.
Some analysts, though, cautioned against assuming fire when there might only be smoke.
"This is an inquiry, not an investigation, and I cannot imagine Enron's attorneys or accountants would allow it do to something illegal," said Merrill Lynch analyst Donato Eassey.
"It's easy for the market to kick a company when its down, but these challenges do not last for a solid company, and we think Enron is one."
Shares in the company are down 75 percent this year.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron shares plunge 20 percent after acknowledging SEC inquiry

10/22/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.
HOUSTON (AP) - Shares of Enron Corp. plunged more than 20 percent Monday after the energy trading giant said the Securities and Exchange Commission had sought information company's transactions with limited partnerships, which were managed by an Enron senior officer.
In a statement, Enron said it had provided the regulatory agency with information in response to an inquiry last week.
"We welcome this request," Enron chairman and chief executive officer Kenneth L. Lay said in a statement Monday. "We will cooperate fully with the SEC and look forward to the opportunity to put any concern about these transactions to rest."
Investors were upset by the news, however, sending shares of Enron down dlrs 5.30 to dlrs 20.75 in heavy trading on the New York Stock Exchange.
The transactions took place in 1999 and 2000, according to Houston-based Enron's 2000 annual report. They resulted in a dlrs 16 million pre-tax gain to Enron in 1999 and a dlrs 36 million loss in 2000.
Enron officials declined to provide details about the transactions or name the limited partnerships, instead referring questions to a section of the annual report on related party transactions.
"Enron entered into transactions with (limited partnerships) to hedge certain merchant investments and other assets," according to the section in the annual report.
Enron spokesman Mark Palmer said the SEC first contacted Enron last week and described the request is an "informal inquiry."
"This is not an investigation," he said. "We see the request as an opportunity to put this issue behind us."
SEC spokesman John Heine said he could not comment on the filings. "We can't confirm or deny that type of activity," Heine said.
The electricity marketer and natural gas provider says both internal and external auditors and attorneys reviewed the related party arrangements, the company's board was fully informed of and approved the arrangements, and they were disclosed in the company's SEC filings.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
STOCKWATCH Enron lower after SEC questions transactions; AG Edwards downgrades

10/22/2001
AFX News
(c) 2001 by AFP-Extel News Ltd
NEW YORK (AFX) - Shares of Enron Corp were down sharply in late morning trade, after the Securities and Exchange Commission requested the company to provide information on certain related-party transactions, prompting AG Edwards to downgrade the stock to 'hold' from 'buy', dealers said.
At 11.10 am, Enron was down 4.29 usd, or 16.47 pct, at 21.76. The DJIA was up 57.57 points at 9,261.68, and the S&P 500 composite index was up 5.57 points at 1,079.05.
In a statement this morning, Enron confirmed that the SEC had requested documents, and said it would "cooperate fully" with the commission.
However, the company did not give any details of the transactions concerned or of the reasons behind the SEC's request.
According to AG Edwards analyst Mike Heim, Enron "significantly reduced" its equity to unroll a partnership arrangement with a partially-owned subsidiary formerly run by Enron's chief financial officer.
"This arrangement, which was not discussed in past SEC filings, has led to a growing distrust of the company by the financial community.
"In our opinion, the market is most likely overreacting to the news being disseminated over the last few days.
"However, we can give no assurances that all the problems at Enron have been fully disclosed," Heim said.
In its statement this morning, Enron said although its internal and external auditors and attorneys have reviewed the related-party arrangements, adding that the Board was "fully informed of and approved these arrangements", which were disclosed in the company's SEC filings.
"We believe everything that needed to be considered and done in connection with these transactions was considered and done," said chief executive Kenneth Lay.
ng/gc For more information and to contact AFX: www.afxnews.com and www.afxpress.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Corp. Information requested by SEC.

10/22/2001
Regulatory News Service
(C) 2001
INTNTH 22 October 2001
ENRON ANNOUNCES SEC REQUEST, PLEDGES COOPERATION
HOUSTON - Enron Corp. (NYSE: ENE) announced today that the Securities and Exchange Commission has requested that Enron voluntarily provide information regarding certain related party transactions.
"We welcome this request," said Kenneth L. Lay, Enron chairman and CEO. "We will cooperate fully with the SEC and look forward to the opportunity to put any concern about these transactions to rest. In the meantime, we will continue to focus on our core businesses and on serving our customers around the world."
Enron noted that its internal and external auditors and attorneys reviewed the related party arrangements, the Board was fully informed of and approved these arrangements, and they were disclosed in the company's SEC filings. "We believe everything that needed to be considered and done in connection with these transactions was considered and done," Lay said.
Enron is one of the world's leading energy, commodities and services companies. The company markets electricity and natural gas, delivers energy and other physical commodities, and provides financial and risk management services to customers around the world. Enron's Internet address is www.enron.com. The stock is traded under the ticker symbol "ENE."
END
'MSCEAFEAALXFFFE.

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

Enron Shares Slide as SEC Seeks Information on Deals With CFO's Partnership

10/22/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
HOUSTON -- Shares of Enron Corp. slumped Monday after the energy-trading concern said the Securities and Exchange Commission has asked for information about "certain related party transactions," including those between Enron and a limited partnership organized by its chief financial officer.
Enron promised to cooperate fully with the SEC request and said in a prepared statement that it "welcomes" the request and looks forward to put "any concern about these transactions to rest."
In 4 p.m. EDT trading on the New York Stock Exchange, Enron (ENE) shares fell $5.40, or 21%, to $20.65.
Last week The Wall Street Journal reported that a limited partnership organized by Andrew Fastow, Enron's chief financial officer, made millions in profits in transactions with the firm. The story cited information reported in an internal partnership document.
Enron also said last week it will repurchase up to 55 million shares that it had issued as part of transactions with LJM2 CO-Investment LP, the limited partnership created by Mr. Fastow.
In addition, Enron took a $1.01 billion charge in the third quarter, mostly connected with write-downs of bad investments, producing a loss of $618 million, or 84 cents a share. Excluding charges, income was $393 million, or 43 cents a share, in the quarter.
The charge covers a wide range of items including costs related to the limited partnerships that were, until recently, by Mr. Fastow.
The company said the costs connected with the partnerships total $35 million and involve the early termination of "certain structured finance arrangements."
The partnerships were set up two years ago, and while the company maintains that they are perfectly proper, some have suggested that it is a conflict of interest for Enron's chief financial officer to be involved in a partnership that was looking to purchase Enron assets, the Journal reported.
The energy company said its auditors reviewed the arrangements and its board was fully informed and approved the deals, which were disclosed in SEC filings.
"We believe everything that needed to be considered and done in connection with these transactions was considered and done," Enron Chairman and Chief Executive Kenneth Lay said on Monday.
Separately, an Enron shareholder filed a derivative lawsuit in Texas court alleging Enron's board breached its fiduciary duties to the company by allowing Mr. Fastow to create and run certain limited partnerships.
A law firm representing the unnamed shareholder said in a prepared statement that Enron's board lost over $35 million by allowing Mr. Fastow to run these partnerships, which engaged in transactions with Enron and presented a conflict of interest.
The suit alleges that the limited partnerships bought Enron assets, permitting Mr. Fastow to use his inside knowledge of the company's financial condition to earn millions of dollars.
-- Bill Platt of Dow Jones Newswires contributed to this report.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Enron Says SEC Asks About Related-Party Transactions (Update8)
2001-10-22 17:10 (New York)

Enron Says SEC Asks About Related-Party Transactions (Update8)

     (Adds in sixth paragraph that analyst estimates dissolving
affiliated companies would cost $3 billion.)

     Houston, Oct. 22 (Bloomberg) -- Enron Corp.'s shares fell 21
percent after the Houston-based company said the Securities and
Exchange Commission requested information on partnerships run by
Chief Financial Officer Andrew Fastow and other executives.

     Enron, the largest energy trader, created partnerships and
other affiliated companies to buy and sell assets such as power
plants to lower the debt on its books. An investor sued Enron's
board Wednesday, saying two partnerships cost the company $35
million and Fastow's leadership of them was a conflict of
interest.

     Investors today said they were concerned that Enron may be
forced to dismantle the affiliated companies by paying off the
owners in cash or stock. Chief Executive Ken Lay said last week he
may be have to ``unravel'' agreements that created the companies
if Enron's debt ratings fall too far.

     ``We need confidence their long-term credit rating won't go
below investment grade,'' said Roger Hamilton, an analyst at John
Hancock's value funds, which own 600,000 Enron shares.

      Enron reduced shareholders' equity by $1.2 billion when it
repurchased 55 million shares of two such partnerships controlled
by Fastow, LJM Cayman and LMJ2 Co-Investment, the Wall Journal
reported last week.

     Dismantling more of the affiliated companies and partnerships
would cost Enron or its shareholders as much as $3 billion, Ray
Niles, a Salomon Smith Barney analyst, wrote in a report to
investors today.

     Enron shares fell $5.40 to $20.65. They touched $19.67 during
the day's trading, the lowest level since Jan. 15, 1998.

                           Shares Plunge

     The stock has fallen 75 percent this year amid concerns about
failed investments in trading of space on fiber-optic
communications networks and a water company, and the resignation
of Jeff Skilling as CEO in August after seven months on the job.

     While Skilling said he resigned for personal reasons,
investors say his departure led them to question whether the
company was concealing problems, including possible liabilities
from affiliated companies.

     On Tuesday, Enron surprised many investors when it reported a
$618 million third-quarter loss, the result of writing off $1.01
billion in failed investments.

      Moody's Investors Service placed the company's debt on watch
for possible downgrade. The company's debt is rated at investment
grade by Fitch, Standard & Poor's and Moody's.

     The company received a faxed request for information from the
SEC on Wednesday asking for information, spokesman Mark Palmer
said, and will respond ``as soon as possible.''

     ``We will cooperate fully with the SEC and look forward to
the opportunity to put any concern about these transactions to
rest,'' Lay, who is also Enron's chairman, said in a statement.

                          Dilution Fears

     Enron has formed at least 18 companies to serve as financing
vehicles for its projects, based on filings with the Texas
secretary of state. Fastow and other Enron executives are named as
the controlling partners or the board members in the companies.

     Some have bought Enron assets such as power plants, removing
the debt for those projects from Enron's books. That allows Enron
to keep cash earned from the main trading business from supporting
what it views as secondary businesses, Standard & Poor's debt
analyst Todd Shipman said.

      Enron brokers trades of electricity, natural gas and other
commodities as well as owns power plants and natural-gas
pipelines.

     Dismantling the affiliates would be costly. Whitewing
Management, an affiliated company that has bought 14 Enron power
plants and lists Fastow as managing director, holds 250,000
preferred shares of Enron.

     Enron may have to convert the preferred shares to common
stock if share prices fall below a certain level and the credit
rating drops below investment grade, according to company filings.
That would dilute the value of common shareholders' investment.

     ``The concern is how many of these dilutive structures are
out there?'' Shipman said. ``Investors are worried they might have
to share their Enron earnings with a lot more people than they
originally thought.''

                        Worrisome Financing

     Enron's auditors and attorneys reviewed the company's
``related party arrangements,'' the board approved them, and they
were disclosed in SEC filings, Enron said in its statement.

     That hasn't eased concerns. The reduction of shareholder
equity by $1.2 billion from the LJM partnerships is reason to
worry about Enron's other financing vehicles, wrote Niles, the
Salomon analyst. Enron also may take another $2.4 billion in
losses from investments in the Dabhol power plant in India and
projects in South America, he wrote.

     Enron's 8 percent coupon bonds due in 2005 fell $34 per
$1,000 face value to be offered at $1,022 today from $1,056 on
Friday, traders said. Yield on the debt rose to 7.33 percent from
6.33 percent.

     Based on Bloomberg composite ratings, most of Enron's long-
term debt is rated at BBB2 and BBB1, two or three levels above
investment grade.

     Fastow continues to work, and Enron hasn't punished him,
Palmer said. Fastow declined to be interviewed, spokeswoman Karen
Denne said. SEC spokesman John Heine declined to comment on the
agency's request to Enron.

     ``We believe everything that needed to be considered and done
in connection with these transactions was considered and done,''
Lay said in the statement.

UniPrime Signs Letter of Intent for Wind Energy Park Project

10/22/2001
Business Wire
(Copyright (c) 2001, Business Wire)
APACHE JUNCTION, Ariz.--(BUSINESS WIRE)--Oct. 22, 2001--UniPrime Capital Corporation Inc. (NQB:UPRC) announced today that it has signed a Letter of Intent (LOI) with Jessel Enterprises Inc. of Los Angeles for a partial interest in a wind park ground lease.
This ground lease, owned by Enron Wind Development Corp., a subsidiary of Enron Corp. (NYSE:ENE), represents in excess of 3,000 acres of prime natural land in the Tehachapi Valley, possessing an extremely high-quality wind source. The output at this particular location is rated at approximately 64 megawatts, and can service roughly 40,000 residential customers. Revenue generation from the Jessel Enterprises wind park is estimated to be $96 million per year.
UniPrime Capital Corporation president and CEO Randy Russo stated, "We are very pleased to have this opportunity to assist in providing a clean, environmentally favored alternative power supply to California consumers, especially in view of the recent crisis condition that many west coast markets have been experiencing."
Additional information about this particular wind park project, and the industry in general, can be found at the American Wind Energy Association's website at http://www.awea.org. UniPrime Capital Corporation is a publicly traded investment holding company trading under the symbol UPRC.

Statements contained in this document that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause future results to differ materially from those set forth in such forward-looking statements. UniPrime Capital Corporation undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof. Such risks and uncertainties with respect to UniPrime Capital Corporation include, but are not limited to, its ability to successfully implement internal performance goals, performance issues with suppliers, regulatory issues, competition, the effect of weather, exposure to environmental issues and liabilities, variations in material costs and general and specific economic conditions.


Craig has done an extensive analytic paper for EPSA on price caps generally,
with a specific focus on California.  The paper is on our website
(www.epsa.org) titled an Initial Analysis of Recent Wholesale Price, Price
Caps and Their Effect on Competitive Bulk Power Markets.  If anyone needs a
copy, let us know.  He also spoke for EPSA at the January FERC conference on
market monitoring.

Julie Simon
Vice President of Policy
Electric Power Supply Association
jsimon@epsa.org

>>> "Katie Kaplan" <kaplan@iepa.com> 03/16/01 03:30PM >>>
Greetings:
Yesterday at the ISO several of us were successful in communicating the need
for a more diverse "Market Repair Team" that would include perhaps some
additional members and a "Stakeholder Advisory Committee".  We were also
successful in communicating our cost-benefit analysis and delaying the
immediate adoption of the team. The motion (approved 5-0) read:

Board of Governors Market Repair Team
MOVED, that the Board approve the concept of a Market Repair Team along the
lines described in the Florio memorandum of March 14, 2001, and directs ISO
management to provide a response to the proposal addressing among other
issues, issues of cost/ benefit, conflicts of interest, team composition at
the next Board meeting.

IEP, CMUA, SMUD, and Grid Services were all asked to submit some proposed
names by today to the ISO Management, please see below e-mail from Elaina:

Today during the Public Comment, you all indicated that you might have names
as potential members of the Advisory Group for the Market Repair Team.  It
is not clear at this point how the whole process will be structured, but we
have been asked to put together a proposed game plan including names for
potential members of the Advisory Group.  Please send them to me ask quickly
as you can:  Friday pm is what Chairman Kahn asked for.

We would like to be as responsive as possible to the request and have
thought of the idea of proposing someone that EPSA uses in a variety of
roles.  CMUA will also probably be proposing someone from their national
organization.  The name that has been suggested for IEP to submit is Craig
Roach of Boston Pacific consulting who has done extensive work for EPSA in
supporting a competitive market policy. There is more information on Dr.
Roach and Boston Consulting on their web site www.bostonpacific.com.  I
spoke with Julie Simon at EPSA this morning and she also gave him an
enthusiastic endorsement.

Another idea or an additional person to submit  would be an economist that
is involved heavily in California.  Since both Hogan and Joskow have
financial ties to market participants we may want to consider proposing our
own economist.  It is the plan to submit both names to the ISO as well as a
letter addressing the following:

1. Raise very gently the issue of potential conflict of interest, coupled
with cost/benefit analysis etc
2. Address structural issues, including how stakeholders will participate.
3. Propose more diversity for the Market Repair Team,
4. Propose a Stakeholder Advisory Group as a third box, and include
stakeholders, including a regional perspective like neighboring control
areas, and folks with operational and market experience

It is crucial that if this plan sends up any red flags for you that you get
back to me ASAP.  I will be sending this letter to the ISO this afternoon
after we get the logistics worked out.  IF you have problems with this
direction please supply additional names we can route with the group.  I
have talked to a few companies that were at the meeting yesterday and they
are comfortable but wanted to make sure everyone had a say.

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499


In light of the tragic events that occurred on September 11, 2001, our concern is to support our employees through this difficult time.  We would like to take this opportunity to remind you of a resource available to you, Enron's Employee Assistance Program.  This service is available to you or any member of your immediate family to provide counseling services.  To talk to a counselor, simply call (713) 853-6057 during business hours in Houston or the 24 hour service line at (800) 345-1391.  If you are outside the US, please contact your Human Resources Representative for further details.  Please also be aware of any colleagues who may require assistance during this time and may not be able to seek help for themselves.

Louise & John


it isn't oozing, just itching.  it was worth every penny.  i think this
hooker really liked me.


Is it possible to reschedule the commercial meeting from Wednesday.
Wednesday is the busiest day of the week for the gas floor.   Please advise,
John

Jeanie Slone
11/02/2000 03:56 PM
To: Fred Lagrasta/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT
cc:
Subject: Final Gas and Power Trading PRC meeting

Mark you calendars for the Gas and Power Trading PRC meetings to be held
Wed. November 29 (Commercial) and Mon. December 4(Commercial Support)  You
will receive specific information regarding times and locations soon.
If you would like additional members of your staff to attend the meeting to
provide feedback, please submit their names to me by November 10.
A formal Gas pre-ranking meeting is not scheduled.  However, if you are
interested in conducting a pre-PRC meeting, please contact me by November 10.

Best regards,
Jeanie
X5-3847


Sheila,

Here's the latest I have, but there may be another turn in the works.  I've
asked Pete to send it to you, along with the GE.  I need to do an override
letter to pick up the agency stuff as well.  I spoke with Lisa about that
yesterday.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/11/2001 08:59
AM ---------------------------

Alan Larsen@ECT
01/10/2001 04:45 PM
To: "Thompson, Peter J." <peterthompson@akllp.com> @ ENRON
cc: Kay Mann/Corp/Enron@Enron

Subject: RE: Fountain Valley/ABB Facility Agreement

Peter--I'm attempting to get you a revised Exhibit A.  I'll confirm with Kay
whether we need Jody Pierce as designated recipient of invoices, or whether
we can have them sent to NEPCo so long as they go to Jody for payment.  There
is no comma before the LLC after E-Next Generation. Is there any other info
you need on the ABB breakout? We want to be able to execute it as soon as we
get you this info.  Thanks.
 Al Larsen

"Thompson, Peter J." <peterthompson@akllp.com> on 01/10/2001 08:56:43 AM
To: <Alan.Larsen@enron.com>
cc: "Kay Mann (E-mail)" <kay.mann@enron.com>

Subject: RE: Fountain Valley/ABB Facility Agreement

These changes have been made.  To complete this agreement, we need (a) a
revised Exhibit A, (b)the response to the Don Hamond's question re.
Section 6.7.2 and (c) confirmation of whether it is "E-Next Generation,
L.L.C." or "E-Next Generation LLC".

-----Original Message-----
From: Alan.Larsen@enron.com [mailto:Alan.Larsen@enron.com]
Sent: Tuesday, January 09, 2001 7:17 PM
To: Thompson, Peter J.
Cc: Don.Hammond@enron.com; Jeff.G.Slaughter@enron.com;
Mark.Mullen@enron.com; Kay.Mann@enron.com
Subject: Re: Fountain Valley/ABB Facility Agreement

Here is the FVP-specific info for the ABB breakout contract.
---------------------- Forwarded by Alan Larsen/PDX/ECT on 01/09/2001
04:04
PM ---------------------------

 (Embedded      (Embedded image moved to file:
 image moved to pic31928.pcx)
 file:          Don Hammond
 pic05629.pcx)  (Embedded image moved to file:
                pic25423.pcx)
                01/09/2001 05:54:27 PM
                (Embedded image moved to file:
                pic28520.pcx)

To:   Alan Larsen/PDX/ECT@ECT
cc:   Jeff G Slaughter/PDX/ECT@ECT, Mark Mullen/PDX/ECT@ECT, Bill
      Williams/PDX/ECT@ECT

Subject:  Re: Fountain Valley/ABB Facility Agreement  (Document link:
Alan
      Larsen)

Attached is an edited file for the ABB/Fountain Valley agreement. I have
removed and made revisions to several sections to make it specific to
the 3
units for Fountain Valley. Specific revisions include:

Exhibit B1
- Page 23, revise quantity from 6 to 3
- Pages 43 through 86, delete pages specific to other designs

As noted in the forwarded e-mail, the contact information in Sections
25.1
and 25.3 needs to be revised to replace Purchaser -
     |-----------------------------------|
     |                                   |
     | GE Packaged Power, Inc.           |
     | 2707 North Loop West              |
     | Houston, Texas  77008             |
     | Attn: Lee Johnson                 |
     | Fax: 713-869-8365                 |
     |                                   |
     |-----------------------------------|
     |                                   |
     | David Davis                       |
     | 16415 Jacinto Port Blvd.          |
     | Houston, Texas 77015              |
     | Fax: 281-452-1585                 |
     |                                   |
     |-----------------------------------|

Question in Section 6.7.2 on Address for invoices - Is NEPCO the
intended
location for invoices?

(See attached file: ABB Facility Agreement-edits.doc)


Will there be a Buyback ticket for Formosa during August 2000 activity.
  Deal #:  92881 expired July 31,2000.


The request has been completed with all resources requested either completed
or rejected. You can view the details of the  request by clicking
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000014989&Page=
MyReq.


Merger call 8004570183 506711


Good luck.


>From: Hugh Meredith <fol_hem@shsu.edu>
>To: Ben McDow <bgmc568@attbi.com>
>Subject: [Fwd: Fwd: predictions]
>Date: Tue, 15 Jan 2002 19:26:07 -0600
>
>hope you enjoy:                   HEM
>
>
>laughing for 2
>days and a very embarrassed female news anchor who
>will, in the future, likely think before she speaks.
>
>What happens when you predict snow but don't get
>any....
>
>True story...a female news anchor who, the day after
>it was supposed to have snowed and didn't, turned to the
>weatherman and asked  "So Bob, where's that 8 inches
>you promised me last night?"
>
>Not only did HE have to leave the set, but half the
>crew did too they were laughing so hard!
>
>
>
>
>
>
>_________________________________________________________________
>Chat with friends online, try MSN Messenger: http://messenger.msn.com
>

_________________________________________________________________
MSN Photos is the easiest way to share and print your photos:
http://photos.msn.com/support/worldwide.aspx


GG wants to go out and leave at 11:20

Debra Perlingiere
Enron North America Corp.
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


We have adjusted Suemar in Sitara.  And will probably adjust it again in a
few days.  Since we bridge back estimates daily, the production at the
Berryman well has been adjusted in the economics.  So, this will not have an
impact on UA4.

D

Mary Poorman@ENRON
10/18/2000 08:34 AM
To: Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Gary A
Hanks/HOU/ECT@ECT
cc:
Subject: Suemar Berryman; Gulf Plains Plant for Current Month

Daren,

As you know, we have experienced some fluctuations at the Berryman well for
OCT, which in turn affects our volumes at the Gulf Plains Plant.  From a
physical standpoint, I think that we are fairly well balanced.  My concern is
that we are "overproduced" on paper by 76,162 Dth/Mo.   I think that we need
to bring the nominations up to balance in Sitara at the Berryman well and, a
corresponding volume at Meters 708 and 6363, with an offset on Strangers to
keep the physical side in line.  If my understanding is correct (and if not,
please correct me) this should have a positive impact on our current month
UA4.

Thank you,

Mary


FYI.

Southwest Gas is asking for a sharing of PCB information from us.? I will be
meeting with them next week to get filled in on their PCB situation.

Ralph Komai
Sempra Energy
Principal Environmental Specialist
Phone: (213) 244-5860? FAX: (213) 244-8046
Pager: (213) 287-2091
E-mail: RYKomai@sempra.com

-----Original Message-----
From:?? Komai, Ralph - TPRYK
Sent:?? Tuesday, February 06, 2001 11:26 AM
To:???? Middleton, Mike - TPMDM
Cc:???? Haines, Deanna - TP1DRH; Padleschat, Joyce; Cordova, Bob - TPRSC;
Howard, Mary -? TP1MCH; Warr, Roger - TPRDW; Razzak, Shahid? - TP5SXR

Subject:??????? SW Gas PCB Letter

FYI.? This letter was received by Lee Stewart yesterday.? SW Gas is asking
for a sharing of information regarding PCBs.? I plan to meet with them next
week, and have invited Bob Cordova to join me, if his schedule permits.

 <<SoWestGasLtr.pdf>>

Ralph Komai
Sempra Energy
Principal Environmental Specialist
Phone: (213) 244-5860? FAX: (213) 244-8046
Pager: (213) 287-2091
E-mail: RYKomai@sempra.com

 - SoWestGasLtr.pdf


David

Thanks.

I shall get in touch with you a few days before to
coordinate the details.

Vince

From:  David Port @ ENRON
        01/09/2001 07:47 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Rick Buy/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Shirley
Crenshaw/HOU/ECT@ECT
Subject: Re: Meeting on Feb 8, 2001

Vince

I will be available.

DP

Vince J Kaminski@ECT
01/08/2001 12:06 PM
To: Rick Buy/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON, John L
Nowlan/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT

Subject: Re: Meeting on Feb 8, 2001

FYI.

This is the list of the Petronas executives visiting Enron on Feb 8.
I have invited them to lunch. Would you like to join me for lunch.

I would like to propose a short courtesy meeting at 10  with Jeff/John (5 -
10 minutes),
followed by RAC/Research presentation till 11:30.

Vince

P.S. I shall reserve a conference room for this meeting

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/08/2001
10:02 AM ---------------------------

azminab@petronas.com.my on 01/07/2001 06:37:33 PM
To: Vince.J.Kaminski@enron.com, Shirley.crenshaw@enron.com,
KhairuddinBMJaafar@petronas.com.my
cc:
Subject: Re: Meeting on Feb 8, 2001

Dear Kaminski

4 members from Corporate Risk Management Unit

1. Iqbal Abdullah   - General Manager
2. Nur Azmin Abu Bakar   - Head, Risk Assessment & Controls
3. Zulkifli A Rahim - Head, Risk Measurement & Systems
4. Adnan Adams - Head, Special Projects

Regards

Vince.J.Kaminski@enron.com on 03/01/2001 09:45:02 PM

To:   azminab@petronas.com.my
cc:   Vince.J.Kaminski@enron.com, Shirley.Crenshaw@enron.com
Subject:  Re: Meeting on Feb 8, 2001

Dear Mr. Nur Azmin Abu Bakar,

Thanks for your prompt reply.

Please, let us know how many members of your team will
visit Enron.

I look forward to our meeting on February 8.

Vince Kaminski

azminab@petronas.com.my on 01/02/2001 06:38:33 PM

To:   Vince.J.Kaminski@enron.com, KhairuddinBMJaafar@petronas.com.my,
      Shirley.crenshaw@enron.com
cc:
Subject:  Re: Meeting on Feb 8, 2001

Dear Kaminski,

  Happy New year and thank you for the reply.  We are honored to have
lunch with you and your team however we have another appointment at
2.30p.m.

Regards

Vince.J.Kaminski@enron.com on 03/01/2001 07:38:19 AM

To:   azminab@petronas.com.my
cc:   Vince.J.Kaminski@enron.com, Shirley.Crenshaw@enron.com
Subject:  Meeting on Feb 8, 2001

Dear Sir,

I would like to apologize for the delay in responding to your fax.
I was on vacation for the last few days.

I shall be honored to meet your delegation on Thursday, February 8 at 10:00
a.m.
Please, let me know if you will be free for lunch after the meeting.

Vince Kaminski


ENA can confirm the transaction on our "omnibus confirmation" with one or two
minor changes (Joe:  please call me).
Also, ENA sent a draft ISDA Master Agreement to Puget Sound Energy on
3/9/99.  If you anticipate more financial trading, please let me know as we
should pursue execution of the ISDA Master Agreement.  Thanks.  Sara


Hi everyone

Just a quick reminder that we have an EBS  offsite meeting coming up --
MONDAY AND TUESDAY, OCTOBER 16TH AND 17TH -- IN VANCOUVER, B.C.
This is just a quick email to remind everyone to put this on their calendars
-- we will be staying at the Hotel Waterfront -- I have already taken care of
the room reservations --   we have a block of rooms reserved, all harborside
rooms -- I will send more information on the hotel -- confirmation room
numbers, etc. and meeting times as well as extracurricular activities planned

Please take the time to locate your birth certificate and/or passport since
you may need these documents to get into Canada -- you need either a) your
driver's license and birth certificate OR b) a passport --

I will be sending out another email with more information -- please let me
know at this time if you will be attending the meeting.

Tracy J. Cooper
Please note my name has changed from McLaughlin to Cooper
Enron Broadband Services
Government Affairs
(503) 886-0396


Yesterday, EOTT submitted a non-binding bid for the stock of APL along with
our comments on the stock purchase agreement.  Copies of both are attached
for your review.  The offer price has been removed from the letter.  We
haven't heard anything form the invesment bankers but did receive two faxes
late last night.  The first was the receipt of the disclosure schedules.  The
second was the waiver by Phillips of their ROFR on Seaway for the year 2000.
This simplies the transaction immensely.
 I keep you informed of any news but wanted to extend my appreciation to
everyone for their hard work during this process and the transition from
Northern Border as a buyer to EOTT.
 thanks
 dwight


Lady and Gents,

Please review and comment.

Chris


Kay - I believe this was brought on by the most recent push to wrap up more
loose ends, particularly breaking out risk books to individual traders.  As
such, we need to get a few things done.  Those that impact you, or anyone
else you direct me to, are:
1-Appointments
2-A CA for all persons working on behalf of enovate.  This is meant to be
signed by both Peoples and Enron employees and is meant to prevent
dissemination of confidential information outside of each respective parent
organization. Ed Hearn prepared another CA for enovate recently and I could
ask him to work on this if you would like.  Just let me know.

I have a few other things, but I am being yelled at to come to a meeting.

Thanks - Gregg

	Kay Mann
	02/01/2001 07:05 AM

		 To: j.nassos@pecorp.com
		 cc: Gregg Penman/Corp/Enron@Enron
		 Subject: Re: Confidentiaility Agreements regarding enovate

Hi John,

I'm out of town, but will give this a look when I return.

Kay

j.nassos@pecorp.com on 01/30/2001 05:16:08 PM
To: Kay.Mann@enron.com
cc: Gregg.Penman@enron.com, t.hermann@pecorp.com, r.dobson@pecorp.com

Subject: Confidentiaility Agreements regarding enovate

Hello Kay -

It's been a long time since we've last spoken and I hope things are well.
In November, Gregg Penman had sent me two confidentiality agreements related
to enovate and asked that I forward any comments to you directly.  I finally
have reviewed them and have a couple comments.

The only proposed changes that need explanation are in paragraphs 1 and 3 of
each agreement.  Paragraphs 1 and 3 are typical provisions in a
confidentiality agreement where each side is evaluating a transaction.
However, the confidential information disclosed under these particular
agreements is going to be used not only for trading activities but also in
connection with audit rights related to an existing and ongoing contractual
relationship.  The confidentiality agreements should not affect enovate's
and PMW's rights under the LLC Agreement.  Accordingly, the proposed changes
are my attempt to clarify the usual text.

Please call if you wish to discuss.  I believe my procrastination has
resulted in the business people wanting to sign these up next week, so your
attention to this is appreciated.  Thanks.

 <<Conf Ag enovate L.L.C. (evaluation of enovate LLC) v1 ENOVATE CMTS
MRK.doc>>  <<Conf Ag Peoples Energy Resources Corp. (evaluation of enovate
LLC) revision 3 PEC CMTS.doc>>

----------------------------------------------------------------
The information transmitted is intended only for the person
or entity to which it is addressed and may contain confidential
and/or privileged material.  Any review, retransmission,
dissemination or other use of, or taking of any action in reliance
upon, this information by persons or entities other than the
intended recipient is prohibited. If you received this in error,
please contact the sender and delete the material from any computer.

 - Conf Ag enovate L.L.C. (evaluation of enovate LLC) v1 ENOVATE CMTS MRK.doc
 - Conf Ag Peoples Energy Resources Corp. (evaluation of enovate LLC)
revision 3 PEC CMTS.doc


NES filed at FERC for authorization to "store" electricity for third parties
at a facility in Ohio -- maybe provides a commercial opportunity.  Let us
know if you want to see the entire filing.

______________________

Summary:

 NES requests that the Commission declare that transactions involving the
delivery of electric energy to NES, Compressed Air Energy Storage (CAES)
generating facility (the NES Facility) for storage through the compression of
air into a cavern for subsequent release through turbine generators to
produce electric energy or ancillary services for sale or exchange at
wholesale in interstate commerce are exclusively subject to the Commission's
jurisdiction under Section 201 of the Federal Power Act, 16 U.S.C. oo 824-
825r (the FPA).

 NES states that it is developing its CAES generating facility at the site of
an abandoned limestone mine in the City of Norton, Summit County, Ohio, near
Akron.  NES represents that the NES Facility will eventually include 2,700 MW
of capacity, to be constructed in individual increments of 300 MW.  According
to NES, the NES Facility will be the first compressed air energy storage
project to be developed in North America as a merchant facility, and only the
third CAES facility in the world.  NES states that the NES Facility will
employ an innovative technology that will allow NES to &store8 electric
energy produced in one period for delivery, resale and use during a later
period, much as a pumped storage hydroelectric facility does.

Full notice below.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 05/07/2001
12:29 PM ---------------------------

"Nancy Pickover" <npickover@bracepatt.com> on 05/04/2001 04:01:47 PM

 - EL01-70.1


The first quarter of 2001 was a record quarter for the performance of the
businesses under the Enron Global Markets group.  We posted a gross margin
number of $100 million for the first quarter.  This represents a 38% increase
in gross margin after a very successful Q1 of 2000.  When combined with
outstanding results posted in December of 2000, EGM has contributed over $187
million to the Wholesale group in the last 4 months.  This was due to
tremendous contributions from each business group.

In order to keep the momentum going and to facilitate more growth, the
following changes and additions have been made within the organization.

Crude and Products group
Mid-marketing
Bill Berkeland has joined the group and is responsible for creating a focused
mid-marketing function specifically within this group.  Fred Lagrasta is
responsible for mid-marketing for Enron Americas and still maintains some
responsibility for various contacts and deal flow as well.  The purpose of
this group is to be very focused in the development of crude and product
specific products and services.  This group reports to Randy Maffett.

Origination
In order to manage the increased origination opportunities around the world,
the Origination group has been changed in order to insure that the proper
focus is placed on these opportunities and to manage its wide scope.  Doug
Friedman will lead our NGL and Petchem origination efforts reporting to John
Nowlan.  Joining Doug will be Rick Cantrell recently hired from Union
Carbide.  The global crude and products origination group has added Randy O,
Conner from Red Meteor, who has extensive experience in these markets.  Both
Randy and Doug Leach,s growing fuels origination group will report to Randy
Maffett.

Trading
Lee Jackson will assume the role of U.S. NGL,s lead financial trader,
supported by Chad South.  The petchem and plastic trading businesses have
been reorganized under Stuart Bland.  Alan Engberg will be responsible for
plastics trading in the Americas.

Shipping
Scott Moncrieff will assume responsibility of our global shipping network
related to crude and products.  Scott will be charged with expanding all
aspects of the shipping portfolio taking advantage of our growing presence in
these markets and the successes we have had marketing shipping on line.

Weather
The weather group under Mark Tawney,s direction is expanding its efforts
around the world.  Europe will have an expanded focus and the London office
will focus on new opportunities in Europe.  Paul Murray has joined Enron from
Castlebridge Partners and will be moving to London to develop and expand the
continental opportunities.  Ross McIntyre, currently based in London, will
report to Paul.  Bill Windle has joined the weather group and has
responsibility for origination activities for North America.  Bill,s most
recent assignment has been in the EBS organization.  The Oslo weather office
managed by Thor Lien will have responsibility for Scandinavia weather
activities.  In addition, employees are being added in the Australia and
Japan regions.  We are now making markets in 32 cities around the world on
EnronOnline.

Coal
Mark Schroeder has joined the coal group and is responsible for origination
activities with generators in the U.S.  Mark,s most recent assignment was as
the head of all regulatory activities for Enron Europe, Japan and Australia.

Enron Japan
The momentum of power deregulation process has slowed in Japan.  The decision
has been made to scale back the wholesale power activities.   Joe Hirl,
President and CEO of Enron Japan, will now report into the EGM organization.
Joe will maintain his direct responsibility of the office and will be
increasing his focus on the business lines within EGM.  All of these products
have high growth potential in both the near and long-term and he will
coordinate and help implement with all the business lines and their
activities.

LNG
LNG continues to expand with the vision to increase the number of
transactions and create a portfolio of assets and contractual access around
the world.  Jonathan Whitehead has joined the LNG group and has
responsibility for all trading and shipping activities.

Neal Gerstandt, previously an independent energy consultant,  Jared Kaiser,
from Enron Americas - East Gas Desk, and Kurt Lindahl, from Enron Global
Assets, have also joined the LNG group with responsibilities in the area of
origination in the Western Region.

Enron Freight Markets
EFM has concluded over 2,000 transactions in its first two months.  Chris
Kravas continues to focus on building the spot trading and mid-market
capabilities that will enable it to be the dominant player in its market, and
has hired four new traders in the last two weeks.  Kellie Metcalf, from EBS,
has joined Shawn Cumberland's origination effort, and Deirdre McCaffrey, from
Gas Structuring and Mid-Market, has joined Matt Arnold's forward trading
group focusing on diesel products.

Global Risk Markets
David Hoog joined Enron from Ace Insurance in December 2000 and has quickly
built a team of people specialized in trading unit contingent power price
call options, a hybrid insurance derivative product. Drawing on Ace and Enron
resources, this team is based in New York and includes Alex Tartakovski and
Larry Marcus from Ace, as well as Joana Bekerman and Tony Chang who recently
moved to New York from Houston. Their first transaction closed just 3 months
after startup.

Brad Blesie will be moving to London in June to establish a base of operation
for GRM and expand our insurance derivative activities into the European
market place. Among the opportunities he is currently exploring are
contingent call options applied to shipping and charter rates, trading
insolvent insurance claims, and combining North Sea oil and gas VPP risk with
decommissioning insurance.

In April this year, EGM established a hedge fund origination effort in New
York reporting to Per Sekse and led by Russell Dyk who recently moved to New
York from LNG in Houston. Russell is responsible for expanding our commodity
trading relationship with hedge funds to include crude oil, products, liquids
and other commodities traded by EGM. Joining Russell in this effort is
Stephen Plauche, who comes to us from Enron Americas, power trading desk.

Financial Trading
Elsa Piekielniak has assumed responsibility for Enron,s developing
agriculture business.  Billy Lemmons has changed groups and now runs the
Analyst and Associate program for Enron Corp.

Please congratulate everyone on their new assignment and we look forward to
the continued growth in all the EGM businesses.


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Gents--

Hopefully, I've attached a general information packet below for the Calgary office &/or Suncor.

[One note: we've rolled the original (overvalued by T-Bone) CGS assets into Bear Paw, so that's why you don't see a reference to CGS (fomerly EMS) anymore.]

Thanks.

D


Daren.  Sorry I forgot to include you
---------------------- Forwarded by Kimberly Vaughn/HOU/ECT on 12/21/99 01:33
PM ---------------------------

	Kimberly Vaughn
	12/21/99 02:01 PM

To: Janet H Wallis/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT
Subject: HL&P

Janet.  I am back from vacation.   I have updated the HL&P flow MTD.   Jill
told me that on the 18th,19 th and 20th the San Jac. nom  should be 29,209.
Is this correct?  We'll need to change sitara.  I have had scada problems at
Meter 1401.  Gas Control has given me a verbal  from the 14th on.  I will
monitor scada and adjust as necessary.  Let me know if there is anything else
that I can do.  Thanks.


__________________

I have discussed with Doug Gilbert-Smith the transmission contingent language
e-mailed to you on 4-27-01 and am communicating the revised text below for
insertion into those written confirmations of EPMI's purchases in ERCOT being
supplied across a DC tie, when designated by the ERCOT traders to require
this insert .  This text is only for those specific transactions which the
ERCOT traders indicate.

"Transmission Contingent: DC Tie.  If Seller is unable to secure the
transmission required for this Transaction on a DC tie line across the ERCOT
system border ("DC tie"),  or transmission on such DC tie is curtailed in a
manner affecting Seller's delivery hereunder, then Seller at its election
shall not be required to deliver the affected portion of the Energy and, in
the event of that election by Seller, neither party shall be liable to the
other hereunder for failure to deliver/receive such Energy.  No other
transmission contingency is designated by the parties to pertain to this
Transaction."


Lunch sounds good!


Hey!  How are all of you doing?  Everything's going well with us.  Farrell
and I
went home for Thanksgiving.  It was our first time back home since the
wedding.
It was kinda strange because since we live nearby each other, we had to decide
whos house we were going to stay at and when.  Oh the joys of being married
and
having to split your time between the families!  It was good to see his mom
because we hadn't seen her since she started her chemo treatments.  She's
doing
well - she's pretty much lost all of her hair, but she is now getting some of
her strength back.  She goes back to Houston next week for her fourth
treatment
and they'll do a sonogram to see how the tumor is doing.  She will most likely
have a mastectomy in the next few months, and then we'll just go from there.
We also drove up to Austin last Thursday night for the game of Friday - GO
HORNS!!  What a fun game that was!  I had been debating on whether or not I
was
going to go because I had surgery the Thursday before (tonsillectomy - YUK!!)
It was hard to not be able to scream after we scored touchdown after
touchdown!!
I saw a lot of our pledge sisters at the game - Lindsay, Erica, Stacey, etc. I
was kinda out of it, though, because I was on a lot of pain medication, so
they
probably thought I was nuts!
Anyway, I just wanted to make sure I have all of your correct addresses.
Corey
and Susan, do y'all still live in the same places?  And Elizabeth, I think
you've moved, so can you just email me your address again?
Thanks!!  Y'all write back and let me know what's been going on with all of
you!
Love,
Steph
----------------------------------------------------------------
The information transmitted is intended only for the person or entity to which
it is addressed and may contain confidential and/or privileged material.  Any
review, retransmission, dissemination or other use of, or taking of any action
in reliance upon, this information by persons or entities other than the
intended recipient is prohibited.   If you received this in error, please
contact the sender and delete the material from any computer.


This meeting has changed to 10:30 a.m.  It will be held in the same conference room.

Thanks,
Amanda

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 3:57 PM
To:	Neal, Scott; Ring, Andrea; Ames, Chuck; Townsend, Judy; Mckay, Jonathan; Brawner, Sandra F.
Subject:	RE: trading plan and products, etc meeting

The meeting will take place in ECS06100.

Thanks,
Amanda

 -----Original Message-----
From: 	Neal, Scott
Sent:	Thursday, January 31, 2002 2:22 PM
To:	Ring, Andrea; Ames, Chuck; Townsend, Judy; Mckay, Jonathan; Brawner, Sandra F.
Cc:	Rybarski, Amanda
Subject:	trading plan and products, etc meeting

I would like to get together Monday, February 4 at 9:30am to discuss the startup of our business
including products, points, responsibilities etc.

Amanda will notify you with the location.

Thanks,

Scott


Kevin

I assume you know that you need a presentation for next week's offsite.  Can
I see a copy ahead of time.

Thanks

John Lavorato


Let me know if there are any questions.

Thank you
Amy


I'm working on it.


Attached is shipper assignment list as well as the email lists as of 10/28/01.

Please let me know if you have any changes.

Dennis P. Lee
ETS
Gas Logistics
(713) 853-1715
dennis.lee@enron.com


We had very successful media briefings in the US last week for Enron Credit.
Overall, the meetings and site demos were a huge success and all of the
reporters seemed
to genuinely benefit from the site demo of Enron Credit.  Below is a quick
recap of John Sherriff's and Jeff Kinneman's media briefing schedules, as
well as some additional notes and an article resulting from one of the
demos.

John Sherriff held briefings with reporters from the following publications:

DerivativesWeek
Dow Jones
Fortune Magazine
Bondweek
Investor's Business Daily
Financial Times
BusinessWeek

Jeff Kinneman held briefings with reporters from the following publications:

Risk Magazine
Institutional Investor
Wall Street & Technology
Derivatives Strategy
Pensions & Investments
Power Finance & Risk

We are already beginning to see results based on the demos.  As you know, Dow
Jones wrote
a story on Enron Credit following the site demo; the article appeared on
April 4, 2001. It is pasted below for your review. CFO.com also ran a story
on Enron Credit last week.
In the next few weeks we expect to see stories in Bondweek, BusinessWeek,
DerivativesWeek and Derivatives Strategy.

I will keep you posted on the European Briefings as well.

Thanks- Meredith

Enron Turns Internal Credit-Risk Tool Into New Product
By Christina Cheddar

08:15 ET
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Of DOW JONES NEWSWIRES

  (This report was originally published late Wednesday.)

NEW YORK (Dow Jones)--With the number of corporate bankruptcies on the rise,
knowing the creditworthiness of one's customers is becoming more and more
important.
For Enron Corp. (ENE), the world's largest energy trading company, keeping
track of credit risk has always been part of doing business. That became
even more true with the company's launch of EnronOnline, its Internet-based
commodities trading network.
In order to deal with the accelerated volume and speed of transactions on
EnronOnline, the company developed a tool to help its own commercial traders
manage the credit risk.
Early last year, Enron rolled out this tool, Enron Credit, on a limited
basis. Gradually, the company expanded its use and scope. Last month, the
company re-launched Enron Credit in its current format.
Enron Credit tracks more than 10,000 companies, giving each a rating known
as the "Enron cost of credit ." The rating is expressed as an interest rate.

The Web site also provides news, a company's expected chance of bankruptcy
and other related information.
While much of this information is free to registered users, Enron also has
turned the product into a new revenue stream.
Users may download data into a spreadsheet and receive periodic updates for
a fee.
The site also can sell a user a "digital bankruptcy swap," which is a way to
hedge against credit exposure.
The price of the swap is determined by a rating Enron's staff assigns to a
company and the amount of credit exposure a company needs to protect
against.
For a supplier, the main advantage of a swap is that if a customer is unable
to pay due to bankruptcy, the supplier will be paid immediately.
According to Enron Europe President John Sherriff, the goal of Enron Credit
is to create a more efficient credit market by increasing trading liquidity.

The tool is important because "in just a short amount of time, a company's
credit can go from stellar to bad literally overnight."
At present, some analysts haven't factored in revenue from Enron Credit into
their earnings models. However, as the commodity markets Enron trades in
mature, it is possible the need for products such as Enron Credit could
increase.
-By Christina Cheddar, Dow Jones Newswires; 201-938-5166;
christina.cheddar@dowjones.com


Just got on line.  Surprised it was possible.  Electricity out, so probably
only us with battery powered lap tops clogging things up.

Everything ok here, so far.  Got a pretty good shake.  Was out in the
streets for a couple of hours, with everyone else.  My neighborhood up on
solid rock, so things looked mostly ok.  Lots of old and bad construction
here; stones in the street.  One upper floor (abandoned) apartment half a
block from here collapsed and much debris in the stereets.  No apparent
injuries, however, in my neighborhood.  Unfortunately, other areas not so
lucky.  Saw 6.7 estimate for Izmit, the center, here (one place I passed had
a genertor and had a tv out for everyone to see).  Passed women praying, men
reading Koran, most just huddled in groups talking. Strange being in the
middle of it all with limited ability to communicate.  Know a few folks in
neighborhood and we had a few basic chats, though its amazing how much I
learned even from them.  Already knew the Turkish word for earthquake, which
is depram (revolution is devrim) and came in handy.

A few seagulls just went by and I think a neighbor down stairs up and about;
mistook that comotion for an aftershock.  A little rattled myself; much like
after SF quake.  I think memory of that still deep seeded in my
subconscious.

Again, this new technology amazes.  Better get off and save my battery.  May
need it.

Thanks for the note.  It was good to see your messages there.  I'll send
this to the rest of the family, but if they call tell them I'm ok and
worried about them worrying about me.

Love,

Mark

>From: <tskilling@tribune.com>
>To: "Mark Skilling" <markskilling@hotmail.com>
>Subject: Re: earthquake---are you all right?
>Date: Mon, 16 Aug 1999 21:55:16 -0500
>
>      Mark--
>          Have just received word of the earthquake there.  Reports are
>      preliminary but they are reporting it hit just after 3AM your time
>and
>      that buildings have collapsed and there are deaths--though they
>      haven't said how many.  It's being estimated at 7.1.
>          I've called Mom and Dad---clearly, Mark, we're very concerned.
>      Let us know you're all right.
>          Have been meaning to get to you to say hello. Hvae been following
>      your e-mails.
>          We're told phone lines are out--so haven't any idea when this
>      might get to you. Please let us know you're all right.
>          Thanks Mark.
>
>                                        Love,
>                                       Tom
>

______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com


I saw you called last night.  What was up?  I tried to call a few times.  Is
there any way wew can meet today or tomorrow for the TV?  It is due and I
would rather pay you some money instead another wasted payment with them.
BTW, how much is the payout for most points in the league?  How much for
second?

-----Original Message-----
From: Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent: Friday, November 17, 2000 10:00 AM
To: Gary.W.Lamphier@enron.com; lwbthemarine@bigplanet.com; Bass, Jason;
daphneco64@bigplanet.com; shusser@enron.com
Subject: New Gore Campaign Sign

---------------------- Forwarded by Eric Bass/HOU/ECT on 11/17/2000 09:59
AM ---------------------------

Brian Hoskins@ENRON COMMUNICATIONS
11/17/2000 09:35 AM

To:   Eric Bass/HOU/ECT@ECT, Hector Campos/HOU/ECT@ECT, Lenine
      Jeganathan/HOU/ECT@ECT, John House/HOU/ECT@ECT
cc:
Subject:  New Gore Campaign Sign

Brian T. Hoskins
Enron Broadband Services
713-853-0380 (office)
713-412-3667 (mobile)
713-646-5745 (fax)
Brian_Hoskins@enron.net

----- Forwarded by Brian Hoskins/Enron Communications on 11/17/00 09:43 AM
-----

                    Milson Mundim

                                        To:

                    11/17/00            cc:

                    09:05 AM            Subject:

----- Forwarded by Milson Mundim/Enron Communications on 11/17/00 09:11 AM
-----

                    Brian Blakely

                                        To:

                    11/16/00            cc:

                    04:45 PM            Subject:

(See attached file: Gore+-+Lieberman.jpg)

Brian C. Blakely
Enron Broadband Services
Transaction Development & Structuring
e-mail:  brian_blakely@enron.net
Phone:  713-853-1433
Mobile:  713-516-0622
Pager:  877-638-1546


I have drafted the attached letter denying the Cal ISO's request to send it
(and the EOB) EPMI and EES' cost information for transactions over the FERC's
cost cap.  Since I believe we are on very firm ground, my initial inclination
was to send no response to the ISO's letter, so there would be nothing to
quote in the press.  However, I drafted this letter at Alan's suggestion for
purposes of discussion.  We should decide whether to send a letter before
distributing this draft more widely in-house to discuss how to parse the
message.


i never see sammy.  i ran into him on a thursday night about 2 months ago,
but i have not seen him since.  the girl situation is good.  i have just been
dating this girl from texas a&m, but she is not a die hard a&m freak so it is
cool.  do you hang out with bert?  i can't believe he is getting married.
talk to you soon.


----- Forwarded by Tana Jones/HOU/ECT on 05/04/2000 01:47 PM -----

	"Anita Herrera" <aherrera@statoilenergy.com>
	05/04/2000 01:40 PM

		 To: Tana.Jones@enron.com
		 cc:
		 Subject: Re: Trades to be assigned

(See attached file: Enron nat gas trades.xls)

Tana.Jones@enron.com on 05/04/2000 02:00:46 PM

 To:      Anita Herrera/TEG/US@TEG

 cc:

 Subject: Re: Trades to be assigned

You don't appear to have attached the list...

                    "Anita Herrera"
                    <aherrera@statoile        To:     tana.jones@enron.com
                    nergy.com>                cc:
                                              Subject:     Trades to be
assigned
                    05/04/2000 12:33
                    PM

Tana - I may have sent you a spreadsheet that did not include options and
physical trades.  Attached is the complete list.  My mistake - I too have a
tendency to forget the "other" trades. - Anita

 - Enron nat gas trades.xls


Kim:

I would argue that the physical premium should actually be ($.012/MMBtu) as
you are displacing gas that would have to be sold as indexed.  That said, we
have never done it that way.  My thought is that you would simply do it at
the swap offer and have no physical premium arguing that that approach still
leaves the desk better off compared to a sale at minus .012.  You could book
it as a physical sale with no phyisical premium.

C

To: Chris H Foster/HOU/ECT@ECT
cc:
Subject: Citizens

Chris,

The deals I do with Tom Broderick, are these volumes priced at I-.012 as
well, or when I fix the prices, do I need to add a new phys premium?


Thanks for the heads up, Vince.  I'll coordinate with Shirley.

Molly

Vince J Kaminski
10/30/2000 09:52 AM
To: Molly Magee/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT
Subject: Re: Resume,

Molly,

I would like to invite this student for an interview,
sometimes in late December when things slow down.

Interviews with all my direct reports and George Hopley.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/30/2000
09:58 AM ---------------------------

Vince J Kaminski
10/24/2000 04:32 PM
To: Jinbaek Kim <jinbaek@ieor.berkeley.edu> @ ENRON
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Resume,

Jinbaek,

We shall invite you to an interview in Houston.

Vince

Jinbaek Kim <jinbaek@ieor.berkeley.edu> on 10/23/2000 07:25:36 PM
To: vkamins@enron.com
cc:
Subject: Resume,

Dear Mr. Kaminski,

Hi,
I am a Ph.D student at IEOR department at U.C.Berkeley.
Thanks for your presentation today.
It gave me knowledge and interest in electricity markets,
and your company.
As you mentioned in the presentation,
I send a resume to give me opportunity to learn more
about your company.
I hope I can join the super saturday event.

Jinbaek

 - resume.doc


Steve,

In addition to Perot Systems, I would contact:

ABB
Ralph Masiello
Vice President & General Manager
Systems Control Division in Santa Clara
408-988-3200

Siemens - I am still working on the right person to contact.

These guys are major global players in the power industry and have a lot of
investment in software  and systems.  They clearly would have an interest in
setting the rules.

If you would like me call them and begin the dialogue, let me know.

Jeff


The following expense report is ready for approval:

Employee Name: Albert L. Meyers
Status last changed by: Jill C. Chatterton
Expense Report Name: Meyers, Bert  1/25/02
Report Total: $76.63
Amount Due Employee: $76.63

To approve this expense report, click on the following link for Concur Expense.
http://expensexms.enron.com


yes


Good morning All ,

The Research Weather Team will be presenting a new Weather Class. (Today)

The Class will be conducted on Wednesdays  at 10: a.m. in room ECS-06980.

The Speakers/Teachers today will be Mike Roberts and Stephen Bennett.

Please join us.......

Assistants : Please forward to your groups..

Everyone is invited.

                                                                       Thanks
                                                                    Kevin Moore


Suzanne:
There is a savings bond program that Enron sponsors for year 2000 newborns.
Could you please find out what I need to do to apply for one.  I thought that
i saw something in workperks about it.  Thanks.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


I was running down a hill during my hanggliding class, lost my balance,
stepped in a hole and dislocated my ankle.  Jerry was taking the class with
me.  He was laughing really hard until he saw my foot..  If I was sitting in
a chair holding my leg straight out and facing North, the bottom of my foot
was facing North East.

I got to ride in an ambulance to the hospital.  I didn't hear this but the
Dr. told them to take me to "a very quiet room".   He popped my foot back in
place and sent me to x-ray.  I don't have any broken bones but the ligaments
are probably all torn up.  I go to an orthopedic surgeon tomorrow.  Right
now, I have an ace bandage wrapped around a fiberglass support.

I think you should buy one of those 4 door short bed Nissan Pickup Trucks.

What are you looking for in a truck?

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Question

I just heard that rumor.  What happened?

Chris Germany@ECT
03/07/2000 09:23 AM
To: Marde L Driscoll/HOU/EES@EES
cc:
Subject: Re: Question

I luv trucks.  I was injured on Sunday,  I use crutches now.

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Question

Hey, I'm going to have to start car shopping.  I'm really thinking about a
truck.  Are you interested in helping me look?  I'm asking because I know how
much you like to look at trucks!  md


Greetings.  Since I get everything that you forward, you may remove me from
you distribution list.  Hope all is well.

Best,
Jeff


Has anyone ever stopped to ask Loretta whether the letters are helpful or not?  Two things occur to me.  First, it is not becoming for a commissioner to be taking actions consistent with the urgings of industry -- particularly if you're a Democrat.  Second, it has always struck me that what she needs is some form of record support, not political pats on the back in one-page letters.  I am asking you these questions not judging the proposal to send a letter .... but I've never understood what they're supposed to do for her and I honestly would like to understand.

E

-----Original Message-----
From: Dasovich, Jeff [mailto:Jeff.Dasovich@ENRON.com]
Sent: Monday, October 22, 2001 11:33 AM
To: Dasovich, Jeff; wbooth@booth-law.com; dominic.dimare@calchamber.com;
cra@calretailers.com; ek@a-klaw.com; mikahl@ka-pow.com;
jrredding@aol.com; drothrock@cmta.net; vjw@cleanpower.org;
djsmith@s-k-w.com; dhunter@s-k-w.com
Subject: RE: Angelides Oct. 19th Letter to L. Lynch Urging July 1 DA
Suspension Date

FYI.  Note below that even the mighty and powerful Power Authority's own
crackerjack analysis asserts that there is still a net short (despite
DWR contracts and DA "stampede"), which should leave one to believe
that, contrary to Angelides' letter, the more the DA the better. Which
further supports Loretta Lynch's response to the Angelides' letter that
DA reduces the amount of spot power DWR has to buy.
Best,
Jeff
CONSUMER POWER AND CONSERVATION FINANCING AUTHORITY
Pace of Power Authority Renewable Portfolio Agenda is Slowed
Quite possibly the most significant action taken at the October 19
Consumer Power and Conservation Financing Authority (Power Authority)
was its inaction on contracts proposed for approval. The Power Authority
has aggressively pursued a broad renewable portfolio, with the intent to
approve contracts as soon as possible.
Instead of approving a number of contracts on its October 19 agenda, the
Power Authority deferred calendared decisions on request for bids until
its November 2 meeting, acknowledging that no action can be taken until
the Department of Water Resources (DWR) rate agreement stalemate has
been resolved.
Chairman Freeman stated that the Public Utility Commission's rejection
of the rate agreement has created an obstacle for the Power Authority to
exercise renewable contracts, to contract for peaker generation and/or
to implement demand side programs. The Power Authority relies upon DWR's
credit to fund these programs, and until a rate agreement is finalized
the Power Authority cannot sign contracts.
Freeman indicated that the Power Authority has signed letters of intent
to purchase output from 14 biomass facilities in the Central Valley, as
well as 400 MW generated by wind.
With the Current Glut of Contracts, Why Do We Need Additional Reserves?
Kellan Flukinger, Senior Advisor to Chairman Freeman and Laura Doll,
provided a detailed presentation explaining why he believes the Power
Authority must contract for additional renewable and peaking generation.
Flukinger believes that despite direct access and the current glut of
electricity supplied in long-term contracts, there still appears to be a
net short of a few thousand megawatts within the State.
Flukinger concluded that the State still is at the mercy of electric
generators who are not subject to PUC regulatory authority and who have
no real obligation to build and maintain new facilities or to serve
customers within the State. He believes that the short-term contracts
and spot purchases leave the state vulnerable to price-spikes and supply
shortages. He believes that the reserve can be managed through
Time-of-Use and Real-Time-Pricing, conservation, interruptibles, demand
side management, renewables and peakers.
Power Authority Names William Barry as Chief Financial Officer
William Barry was approved as Chief Financial Officer of the Power
Authority at its October 19 Board meeting in Sacramento. Mr. Barry
currently works for the City of San Francisco, and has worked in the
past for the New York Power Authority.

**********************************************************************
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.
**********************************************************************


We are pleased to announce that Greg Piper has been named President and CEO of Enron Net Works effective immediately.   Mark Pickering will join Greg in the Enron Net Works Office of the Chair as Chief Technology Officer and will relocate from London to Houston.

Mark joined Enron's IT development group in Houston in 1995 and has been Vice President and Chief Information Officer of Enron Europe since January 1998.  Mark has had responsibility for Enron's systems development and infrastructure outside of the Americas and has played a key role in supporting the growth and expansion of our business.

Paul Freeman, who is currently part of the Enron Metals management team in London, will replace Mark as Chief Information Officer for Enron Europe.

Please join us in congratulating Greg, Mark and Paul on their new roles.  We look forward to their contributions toward our continued success.


They found this in a pile somewhere

Its now on your desk - I was unable to check it as  I had nothing to reference it against

Neil


PMG just called and offered $100 k and no brokerage as a best offer for Nat
Gas Henry hub Products only.  I think we should take it.


hee hee hee

	From:  Kathleen Carnahan                           04/23/2001 01:34 PM

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

Subject: Re: GE contracts

He just came up here to meet with Chris Booth.  I asked him if you had told
him anything and he said "Oh, you mean about Peggy?  Well, there is no way I
can do Mexico and all this stuff too".  I think he is a little overwhelmed
right now.

K-

Kay Mann
04/23/2001 01:31 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: Re: GE contracts

You got it.  I asked Carlos if he still speaks espanol.  You should have seen
his face.  He looked like he had swallowed a bug.

ckm

	From:  Kathleen Carnahan                           04/23/2001 01:29 PM

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

Subject: Re: GE contracts

Well, MY    GOD!  Isn't she the attorney who did the Mexico stuff?

Kay Mann
04/23/2001 01:27 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: Re: GE contracts

Needless to say I had a pretty good idea of the location of the bottleneck.
Otherwise, I would have called you.

Peggy Banczak quit.  She told me herself, so it must be true.

ckm

	From:  Kathleen Carnahan                           04/23/2001 01:18 PM

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

Subject: Re: GE contracts

Kay,

I think your memory is correct.  You asked me to get this stuff to Ed, which
I did.

K-

Kay Mann
04/23/2001 12:29 PM
To: Sheila Tweed/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Ed B Hearn
III/HOU/ECT@ECT
cc:

Subject: GE contracts

In speaking with Lee Johnson this am, he mentioned that he is still missing
final contracts for PSCO and CA Development.  I seem to recall that Sheila
had asked someone to pull this together, and that I had given Kathleen the CA
Development stuff.   I could be off track, but that's how I remember it.
There's probably someone with a better memory.

Thoughts?

Thanks,

Kay


Blank
FYI
?
?
Dan Douglass
5959 Topanga Canyon Blvd.? Suite 244
Woodland  Hills, CA 91367
(818) 596-2201
douglass@energyattorney.com

?

 - Blank Bkgrd.gif
 - 6-7-01 AL Summary Chart.doc


Just wanted to ease your mind and let you know that I have not discussed your
impending move with anyone save those you have already informed.  I am well
aware of the sensitivity of the subject.  Believe it or not, sometimes I am
able to keep my mouth shut.


Attached is a draft of Enron's protest of PG&E Advice Filing 2010-E which
replaces Schedule PX with Schedule E-Gen.  The protest follows the same
lines as our protest of SCE's advice filing  last week. The only real
difference is that PG&E would apparently give a credit which reflects all of
a bundled customers generation costs -- i.e., retained generation (including
QF and purchase power contracts), ISO charges and DWR costs. Therefore we
did not have to include a section advocating that as the back up to our
market based credit.

The protest is due tomorrow (May 1).  Please provide all comments as soon as
possible.

 <<X24055.DOC>>

Jeanne Bennett

 - X24055.DOC


Teco Tap       30.000 / Enron ; 90.000 / HPL IFERC

LS HPL LSK IC       30.000 / Enron


FYI
---------------------- Forwarded by Tana Jones/HOU/ECT on 09/07/99 08:24 AM
---------------------------

	From:  Bob Shults                           09/03/99 04:36 PM

To: Kristin Albrecht, D Todd Hall, Brenda Herod, Brent Price, Leslie Reeves,
Stephen Schwarz, Mary Solmonson, Bob Superty, Sheila Glover,
eperez2@ect.enron.com, Jeffrey T Hodge/HOU/ECT@ECT, Mark - ECT Legal
Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT,
Leslie Hansen/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Sally Beck, Jordan
Mintz/HOU/ECT@ECT
cc: Lorraine Becker, David Forster/LON/ECT@ECT, Donna Corrigan/HOU/ECT@ECT,
Jennifer deBoisblac Denny/HOU/ECT@ECT
Subject: EnronOnline Presentation

On Tuesday September 7th  from 4:00 - 5:30 in Conference Room EB2601 &
EB2601I will be doing an orverview of the EnronOnline System.  If you have
not had a chance to see an overview or have people in your group that could
benefit from this overview please RSVP to LBecker@ect.enron.com.  This
project continues to be confidential in nature so please limit participation
to the appropriate personnel.