?
?	VentureWire
	Thursday, May 24, 2001		?
?	CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND	VentureWire Index
		'VentureWire
		today: 736.0 ? -0.03%	?
?

		top stories

		  Online Financial Technology Firm Xigo Closes Down
		  Auxyn Bioscience Ventures Raising $200 Million Fund
		  SpaceVest III Makes First Closing at $82M, Targets $150M
		  BlueLight.com to Make Layoffs;  Will Use More Kmart Staff

		TODAY'S FEATURES
		Concord Ventures Begins Raising Fourth Fund
		By Jonathan Shieber
		Concord Ventures, an Israeli venture capital investor, has begun raising its
fourth fund, Concord Ventures III, according to partner Batsheva Elran.
more>>
		UPCOMING EVENTS
		June 5-6: San Francisco
		 Mobile Outlook 2001

		Anthony Alles, formerly of Shasta Networks (acquired by Nortel for $340
million) is back with a new venture called Tahoe Networks. Mobile Outlook
will showcase for the first time their plans to merge the worlds of data and
mobility.
		With industry leaders such as Anthony Alles planning to be at Mobile Outlook,
you should be too.
		Less than 2 weeks, register today!

		Entrepreneurs and VC-backed company CEOs:
		* Where can you obtain FREE detailed information on the
		latest quarter'sventure funding by region, industry,
		round and stage of development?
		* Where are there FREE tools and templates for writing a
		business plan and securing venture funding?
		* And if you're a young tech company CEO, where can you
		hear other CEOs discuss the issues of the day?
		VISIT PricewaterhouseCooper's Entrepreneur Resource Center
		for this and more -->http://www.pwcerc.com

		New Endymion CEO Thinks Acquisitions, IPO
		By Michelle Tsai
		Steve King, the new CEO of Endymion Systems, an information technology
consultancy, won't have much time to bask in his recent promotion. more>>

		new money

		  ATM Software Firm KAL Raises $3.5M First Round
		  Malaysian Software Maker BizAid Scores $2.4M in Series A
		  Property Protection Firm Infraworks Gets $9 M Series A
		  Alphion Works On $35 Million Series B Close
		 Bharti Televentures Lands $460 Million Capital Injection
		  IpSEAL Wants $8 Million in Second Round
		  Molecular Mining Gets $8 Million Round Two
		  Point Therapeutics Closes $5.4M Series B
		  Workspeed Raises $15 Million in Series B
		 Supply Chain Software Developer Viewlocity Gets $30 Million
		  Wireless Services Firm InfoMove Has $6.2 million Third Round
		  Be Here Raises $6 Million in Series D
		  Japanese Consumer Finance Firm Priva Secures Funding
		  CapMan Invests in Danish Distribution Company SMEF Group
		  Blue Tie Looking for Up To $30 Million

		bad news

		  Black Hog Lays Off 35% of Staff

		new deals

		  Jenoptik and Lambda Form UV Lasers JV Xtreme

		new products

		  Law Firm Gray Cary Launches VC Business Services Subsidiary

		m&a

		  PocketMail Acquires Pocket.com's Assets for Cash & Stock
		  Evolve Buys Vivant for $2.7 Million in Stock and Cash
		  Training Software Firm Baydon Buys Human Dynamics for $1M
		 World Internetworks Merges With Trace Affex
		 JB Oxford Buys Certain Assets of eCapitalist Financial
		  EverythingTele.com Acquires TekSell.com in Stock Deal

		new directors

		  E-Marketplace OneMade Names John J. McLaine Chair. of Board

		new people

		  Mobile Software Provider Bwirelezz Names New CEO
		  Ronald Brumback Named Pres. & COO of Top Layer Networks
		  Sur La Table Names Tim Hopkins as New CEO

		vc fund news

		  Irish Investment Firm Crucible to Open New Office in Belfast

		vc personnel

		  VC Management Firm Beacon Telco Appoints Avi Legmann as VP

		vw corrections

		  Bridium
		  Saipx

		 TOP STORIES... NEW MONEY... BAD NEWS... NEW DEALS... NEW PRODUCTS... M&A...
NEW DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS

		top

		This year to date, over $750 million has been
		invested in private equity deals in the financial
		services sector (source: VentureWire). In this age
		of liquidation preference provisions and
		retroactive repricings, that's a strong
		performance. Financial Services Outlook allows
		you a unique insight into where the investment strength
		in this market lies, and which private companies are leading
		the strongest sectors of the financial technology
		and solutions market.

		Register before June 19 and SAVE
$100:http://www.financialservicesoutlook.com/register.asp

		 top stories
		?
		Online Financial Technology Firm Xigo Closes Down
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Xigo, a developer of online financial
technology, said it is closing down. According to CFO Skip Smith, the company
could not secure the additional funding it needed. Mr. Smith said the company
still has a handful of employees on staff while it tries to sell its assets.
He would not say how many employees the company originally had on staff.
Xigo's real-time technology searches through streaming data to provide users
with financial and investment information via e-mail, cell phone, or pager.
Last May the company raised $22 million in a second round of financing from
Capital Z Financial Services Fund II, Angel Investors LP, New Enterprise
Associates, and John McKinley, Jr., executive vice president and CTO of
Merrill Lynch.
		http://www.xigo.com

		Auxyn Bioscience Ventures Raising $200 Million Fund
		 mail? top

		 ST. LOUIS  (VENTUREWIRE) -- Auxyn Bioscience Ventures, a fund dedicated to
life science investments, said it is raising $200 million. The firm's chief
scientist Ganesh Kinore said that the fund has already received a good
portion of the $50 million it is seeking from investors in the St. Louis
area. He said the fund, slated to close this fall, will invest in life
sciences companies focused on gene discovery to modify nutritional quality of
crops to treat human diseases, as well as genomics and infomatics sectors.
Mr. Kinore formed the firm with former Monsanto colleagues, including Arnold
Donald and Andy Bursky. Telephone 314-657-1050

		SpaceVest III Makes First Closing at $82M, Targets $150M
		 mail? top

		 RESTON, Va.  (VENTUREWIRE) -- SpaceVest, a private equity firm that invests
in companies in the space industry, announced that it had made the first
closing for its newest fund, SpaceVest III, at $82 million in the middle of
April. SpaceVest began raising the fund in October 2000 and plans on closing
the fund at $150 million by the end of the year. Ransom J. Parker, the
managing partner responsible for administering the fund, said SpaceVest III
will make expansion-stage investments ranging from $5 million to $7 million
in space industry companies and in networking firms. The $150 million is
targeted to be fully invested in 15 to 20 companies and will have no
exclusive geographical focus. Mr. Ransom also said SpaceVest was seriously
evaluating five North American space industry and networking companies at
present. He said SpaceVest planned to make at least one investment in this
quarter. John B. Higginbotham, Roger P. Widing, Ransom J. Parker, and Richard
L. Harris are the managing partners for SpaceVest III. Knickerbocker Capital
joined the fund as a new limited partner along with previous investors
Sofical, a subsidiary of Caisse de Depot et Placement du Quebec; the Swiss
Reinsurance Company; Boeing; and the Fuller Foundation. SpaceVest previously
closed SpaceVest II at $138 million in December 1999.
		http://www.spacevest.com

		BlueLight.com to Make Layoffs;  Will Use More Kmart Staff
		 mail? top

		 SAN FRANCISCO  (VENTUREWIRE) -- BlueLight.com, an independent e-commerce
site majority owned by Kmart, said it will begin using more of Kmart's
marketing and merchandising staff in order to become more efficient and
reduce operating costs. It will also make an undisclosed number of layoffs to
cut down on duplicate jobs. "Using these resources will keep us on our path
to profitablitlity in a rather soft e-commerce market," said David Karraker,
a company spokesperson. BlueLight's backers include Softbank and Martha
Stewart Living.
		http://www.bluelight.com

		 new money
		?
		ATM Software Firm KAL Raises $3.5M First Round
		 mail? top

		 EDINBURGH, U.K. (VENTUREWIRE) -- KAL, a software company developing
asynchronous transfer mode (ATM) applications, said it closed its first round
at $3.5 million co-led by Royal Bank Ventures and Scottish Equity Partners
(SEP), with additional participation from CA Nominees. Royal Bank Ventures
and SEP will be approving the addition of one independent board seat to KAL's
board of directors, which will now have five directors. The company said the
financing would be used for sales, marketing, and for establishing its U.S.
office in Cincinnati. KAL said it plans to hire eight to 10 people for the
Cincinnati office. Founded in 1998, the company said it had no plans for
additional funding for the rest of the year.  In addition to its Edinburgh
headquarters and new U.S. office, KAL also has offices in Japan and
Australia.
		http://www.kal.com

		Malaysian Software Maker BizAid Scores $2.4M in Series A
		 mail? top

		 KUALA LUMPUR, Malaysia (VENTUREWIRE) -- BizAid, which develops software for
business consultants and small- and medium-sized businesses, has closed MYR 9
million ($2.4 million) in Series A financing. Sole investor OptixLab, an
incubator, gains two seats on the board of directors. Funds will be used for
research and development, marketing, and general business purposes. BizAid is
preparing to launch its first product in a few months. Formed by OptixLab and
Info-House IT in March 2001, BizAid had received approximately $900,000 from
Info-House IT prior to Series A. The company expects to have positive cash
flow by 2003.
		http://www.mybizaid.com

		Property Protection Firm Infraworks Gets $9 M Series A
		 mail? top

		 AUSTIN, Texas (VENTUREWIRE) -- Infraworks, a provider of digital property
protection technology, announced that it closed $9 million in Series A equity
financing led by Moore Capital Management with participation from unnamed
individuals. The company plans to dedicate the new funds to marketing and
sales. As a result of this investment two board seats have been granted to
Moore Capital: James Caccavo, who is managing director, private equity
investments and Quinn Morgan, who is principal, private equity investments,
join the seven-member board. In addition to the equity funding, Moore Capital
Management has also devoted $4.2 million in convertable debt financing to
Infraworks. The company is currently seeking a Series B round between $15 and
$25 million, to close in early autumn.
		http://www.infraworks.com

		Alphion Works On $35 Million Series B Close
		 mail? top

		 EATONTOWN, N.J. -- Alphion, an end-to-end optical network provider, expects
to close $35 million in Series B funding by July, said CEO Bharat P. Dave.
Founded in July 2000, the Eatontown, N.J.-based company expects to ship its
first product in June of next year, with an eye toward reaching profitability
in third quarter of 2003. Mr. Dave, who said the company has received offers
from venture capitalists to lead the upcoming financing, expects the Series B
to be an up round. He will hold discussions with top tier VCs in New York,
Boston, and on the west coast. Battery Ventures, the sole investor in
Alphion's $16.9 million Series A, will maintain its stake in round two,
according to Jim Orlando of Battery Ventures. With Series B funding, Alphion
will complete its beta trials and prepare the product for shipping. The
company, which has a staff of 55, expects to double by the end of the year.
With its all-optical network, Alphion will provide companies with "a huge
cost advantage," said Mr. Orlando. Alphion's competitors include Nortel
Networks and Lucent Technologies, which provides an all-optical switch for
communications networks. Alphion will target its all-optical networks for
large North American and European telecommunications carriers such as Global
Crossing. For 2002, the company anticipates $15 million in revenues. Plans
may call for an IPO in 2003, said Mr. Orlando.
		http://www.alphion.com

		Bharti Televentures Lands $460 Million Capital Injection
		 mail? top

		 NEW DELHI, India (VENTUREWIRE) -- Bharti Televentures, an Indian telecom
firm, said it received  a $460 million capital injection. The funding came
from Warburg Pincus, which contributed $200 million; Singapore
Telecommunications, which provided $200 million; AIF Funds Management, which
invested $35 million; International Finance, which provided $20 million; and
New York Life, with a $5 million investment. Bharti previously received $100
million from Warburg Pincus and $400 million from Singapore
Telecommunications.
		http://www.bhartibt.com

		IpSEAL Wants $8 Million in Second Round
		 mail? top

		 WESTMINSTER, Col. (VENTUREWIRE) -- IpSEAL, a Westminster, Colo. startup
developing a software platform for coordinating activity within a service
provider's network, is raising a second institutional round of funding for
between $6 million and $8 million, president and CEO Marvin L. Hutchens told
VentureWire. Mr. Hutchens plans to bring in a new lead investor as well as
the company's previous investors, iVention Group, Oak Hill Venture Partners,
and Rock Mountain Ventures. Mr. Hutchens said he planned to close the round
by the end of August.  He added that the company, which raised $300,000 from
Rock Mountain Ventures in early 2000 and a $7.5 million round from iVention
Group and Oak Hill Venture this past October, would most likely have an up
round. Mr. Hutchens said that ipSEAL would conduct beta testing this summer
and that it expects to roll out its first product in the fall, with its first
product delivery and service by the first quarter or second quarter of 2002.
The company will use the next round of funding for continued product
development and future marketing initiatives. Mr. Hutchens said that ipSEAL's
staff would likely grow from 30 to just over 60 by the end of the year.
IpSEAL recently hired Robert M. Holburn Jr.,  former Rogue Wave Software
chief financial officer, as its chief operating officer.  The company also
plans to announce a new head of marketing. Mr. Hutchens said that while
revenues "are still basically three quarters away" the company is moving
along slowly and steadily, with a burn rate of well under $300,000 per month.
He said that the company would be profitable by some time in 2003, but
wouldn't wager a guess as to when when the company might hold an IPO.
		http://www.ipseal.com

		Molecular Mining Gets $8 Million Round Two
		 mail? top

		 KINGSTON, Ontario (VENTUREWIRE) -- Molecular Mining, a provider of data
mining technology for the life sciences market, said it closed $8 million in
second round funding led by CDP Sofinov, a subsidiary of the Caisse de depot
et placement du Quebec (CDP), with participation from the Business
Development Bank of Canada, Cardinal Partners, CMDF Queen's Scientific
Breakthrough Fund, and S.R. One Limited, a subsidiary of GlaxoSmithKline.
S.R. One Limited and Cardinal Partners co-led the company's first round of
financing of $2 million in March 1999. As a result of this financing, the
company anticipates an additional appointment to its six-member board of
directors, which now includes John Clarke of Cardinal Partners. The company,
which officially launched operations this March, anticipates to be profitable
within the next two years.
		http://www.molecularmining.com

		Point Therapeutics Closes $5.4M Series B
		 mail? top

		 BOSTON (VENTUREWIRE) -- Point Therapeutics, a biotechnology company, said it
raised $5.4 million in its Series B led by the Kaufmann Fund, which
contributed $5 million, and from undisclosed institutional and private
investors. The money will be used for clinical testing of its lead compound,
PT-100, which is being developed to treat hematopoietic disorders. This round
is expected to last until the middle of 2002. The board of directors remains
at five members, since no new seats were granted. The company has raised $20
million to date. Past investors include Boston-based Claflin Capital and
Chicago-based Portage Ventures. Don Kiepert is the president and CEO of Point
Therapeutics. Point Therapeutics develops therapeutics for the treatment of
cancer and hematopoietic disorders. Telephone 617-636-0673.

		Workspeed Raises $15 Million in Series B
		mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Workspeed, a provider of Internet and
wireless collaborative applications for commercial real estate, said that it
has raised $15 million in Series B financing led by previous investor Partech
International with participation from Apollo Real Estate Advisors; Archon
Group, a wholly owned subsidiary of Goldman Sachs; Insignia Financial Group;
Mack-Cali Realty; Newmark and Company Real Estate; Peregrine Systems; Jack
Resnick & Sons, Inc.; Lawrence Ruben Company; Vornado Realty Trust; and
unnamed individuals and funds. The company said it plans to use the new funds
for product development. The company raised $18 million in Series A financing
in May 2000.
		http://www.workspeed.com

		Supply Chain Software Developer Viewlocity Gets $30 Million
		 mail? top

		 ATLANTA (VENTUREWIRE) -- Viewlocity, which provides supply chain event
management software, said it has opened its latest funding round with $30
million in capital commitments from undisclosed new investors and previous
investors. The company said the total round could exceed $30 million and it
expected to close the funding within the next two weeks. Viewlocity said it
would use the funding to expand its sales, marketing, and product
development. The company, which closed a Series E round in July of last year,
withdrew a planned IPO in January 2001. The company's previous investors
include BancBoston Ventures, Battery Ventures, BCI Partners, Beacon Group,
CommVest, DHL, Deutsche Post, Marconi Ventures, SingTel, and SK Global.
Viewlocity has offices in Atlanta, London, Singapore, and Tokyo.
		http://www.viewlocity.com

		Wireless Services Firm InfoMove Has $6.2 million Third Round
		 mail? top

		 KIRKLAND, Wash. (VENTUREWIRE) -- InfoMove, a developer of personalized,
location-based applications and wireless services, said it raised $6.2
million in its third round of funding led by previous investor ComROAD, a
German telematics networks company. A number of undisclosed individual
investors participated in the round, along with previous InfoMove investors,
whose names the company declined to disclose. InfoMove's COO Thomas Ross said
the company will start to seek additional financing again soon. This latest
round will be used for product development, and to fully launch the company's
services in the third quarter. Mr. Ross said InfoMove plans to introduce its
services in Europe through its partnership with ComROAD. InfoMove has raised
about $15 million to date. Its investors include Broe Companies, BSquare,
Encompass Europe, Garage.com, NTT-ME, and Mitsui Comtek.
		http://www.infomove.com

		Be Here Raises $6 Million in Series D
		 mail? top

		 LOS ANGELES (VENTUREWIRE) -- Be Here, a provider of software and services
for panoramic navigable video and still pictures, announced that it has
secured $6 million in a Series D round of equity financing led by Snider
Capital with participation from prior investors Eastman Kodak, Enterprise
Partners, Intel Capital, Philips Electronics, Totem Investment Partners, and
Wasserstein Adelson Ventures. The company plans to dedicate the new funds to
sales, marketing, product development, and infrastructure expansion. As a
result of this financing, Walther Ramos of Snider Capital has joined as the
ninth member of the company's board. Prior to this round the company raised
$17 million in three rounds of financing.
		http://www.behere.com

		Japanese Consumer Finance Firm Priva Secures Funding
		 mail? top

		 TOKYO (VENTUREWIRE) -- Residential Funding Corp. (RFC), a wholly owned
subsidiary of GMAC Financial Services, announced it has made an undisclosed
investment in Priva, a consumer finance company based in Japan that provides
loans via the Internet and call centers. RFC invested jointly with Japanese
consumer finance company Credia, Itochu Finance, and United Asia Finance.
Priva said it will soon offer its product nationwide through targeted
advertising in selected national publications. RFC, which has an office in
Minneapolis, Minn., will own 13.5% of Priva when the transaction is
completed. Katsuhiro Saito, president and CEO of Priva, is a member of the
board of directors of Credia.
		http://www.gmacrfc.com

		CapMan Invests in Danish Distribution Company SMEF Group
		 mail? top

		 HELSINKI, Finland (VENTUREWIRE) -- CapMan, a private equity investor in
Finland, announced it will invest in SMEF Group, a Denmark-based company that
distributes machinery, tools, fittings, and assembly parts to the Northern
European furniture, door, and window industry. The investment, which is
CapMan's first in Denmark, was made in cooperation with Nordic Private Equity
Group, an investment group that CapMan acquired last month. SMEF Group is
expected to acquire three Danish companies, Ludvig M. Larsen, Lind Maskiner,
and nissenpack. At the close of the transaction, CapMan will own 50% of SMEF
Group and the rest will be owned by the shareholders of the three companies
and key managers of SMEF, which made approximately EURO 70 million ($60
million) last year and reaped about $3.2 million in profit. Peter Buch Lund,
a senior partner of CapMan, has joined SMEF Group's board. CapMan has
invested about $995 million in 100 companies through 12 funds.
		http://www.capman.fi

		Blue Tie Looking for Up To $30 Million
		 mail? top

		 ROCHESTER, N.Y. (VENTUREWIRE) -- BlueTie, a Rochester, N.Y. application
service provider, is on the prowl for a second round of funding of between
$20 and $30 million, the company's chief executive officer, David Koretz,
told VentureWire. The company, which offers applications such as e-mail,
calendar planning, and secure document transferring to small and mid-sized
businesses, will use the funding for product development and to begin an
aggressive sales and marketing campaign. BlueTie, founded in March 1999,
officially launched in February 2001. It raised about $10 million in its seed
round from individual angel investors, including Paychex founder B. Thomas
Golisano. Hewlett-Packard, which chose BlueTie for its Garage Program last
year, provided $2.5 million. BlueTie reportedly has a pre-money valuation of
between $200 million and $300 million, but Mr. Koretz would not confirm those
numbers. He said the company is operating in a market he estimates to be on
the order of $22 billion per year. BlueTie, which has about 30 employees, is
burning through "less than $250,000 per month," he said. BlueTie expects to
break even by the fourth quarter of this year. Roughly 1,000 customers are
using BlueTie services now, said Mr. Koretz. "We require less than 15,000
users and we're profitable," he said. Mr. Koretz expects the company to have
50,000 users by the end of the year and 200,000 by the end of next year.
BlueTie's applications have all been developed in house, Mr. Koretz said. He
said the company closed on six new patents last week, which he did not
discuss. He believes small customers who don't need a complex package of
applications will opt to use his company's services. "Microsoft and Lotus are
selling 34 million units per year each, but if you want to buy them, you have
to buy a server, software and IT people to manage it all," he said.  "By
contrast, we charge $25 per user per month, and can have them up and running
in an afternoon."
		http://www.bluetie.com

		 bad news
		?
		Black Hog Lays Off 35% of Staff
		 mail? top

		 SUNNYVALE, Calif.  (VENTUREWIRE) -- Black Hog, a provider of supplier
relationship management products for complex product manufacturing, laid off
20 people, or 35% of its staff, according to a company spokesperson. Black
Hog executives could not be reached to provide a reason or to comment on
whether the employees received severance. Thirty-seven people remain with the
company. The company has raised $24 million in two rounds from Accel Partners
and Invesco Private Capital, and is currently raising a new round.
		http://www.blackhog.com

		 new deals
		?
		Jenoptik and Lambda Form UV Lasers JV Xtreme
		 mail? top

		 JENA, Germany (VENTUREWIRE) -- Jenoptik, a technology holding company which
also makes private equity investments, and Lambda Physik, a developer of
pulsed UV lasers based in Gottingen, Germany, announced the formation of a
new joint venture called Xtreme technologies to develop extreme ultraviolet
light lasers for manufacturing chip structures. Jenoptik's subsidiary,
Jenoptik Laser, Optik Systeme, and Lambda each control 50% of Xtreme, which
will be headquartered in Jena, Germany. Jenoptik said each company would
invest sums in the eight-figure deutsche mark range.
		http://www.jenoptik-los.de
		http://www.lambdaphysik.com

		 new products
		?
		Law Firm Gray Cary Launches VC Business Services Subsidiary
		 mail? top

		 PALO ALTO, Calif. (VENTUREWIRE) -- Gray Cary Ware & Freidenrich, a law firm
representing technology firms, said it launched Gray Cary Venture Pipeline, a
subsidiary which will provide non-legal business services to the technology
venture community. Mike Krenn, formerly with the law firm of Cooley Godward
and a founding board member and executive director of the San Diego Band of
Angels and the San Diego Telecom Council, will serve as managing director of
the new subsidiary. Mr. Krenn said that while the subsidiary will begin as a
free service offered to clients of the law firm, it will eventually take fees
from some clients and equity stakes from others.
		http://www.graycary.com

		 m&a
		?
		PocketMail Acquires Pocket.com's Assets for Cash & Stock
		 mail? top

		 SANTA CLARA, Calif. (VENTUREWIRE) -- PocketMail Group, a publicly traded
company based in Sydney, Australia, said it acquired Pocket.com's assets for
cash and stock. Full terms of the deal were not disclosed. Pocket.com, which
provides a mobile e-mail service, will become a U.S. subsidiary of PocketMail
and has retained 17 of its 25 employees, former president and COO Seth
Rosenblatt of Pocket.com said. Mr. Rosenblatt will act as a consultant for
the combined company. Pocket.com began shopping the company around in the
summer of 2000 and arrived at a letter of intent from Pocketmail, a licensee
of its product, in December 2000. Pocket.com raised $30 million since its
inception from JAFCO American Ventures, InveStar Capital, Doll Capital
Management, and NIF Ventures USA. Pocket.com was advised by Palo Alto,
Calif.-based law firm Wilson Sonsini Goodrich & Rosati in the transaction.
		http://www.pocket.com
		http://www.pocketmail.com.au

		Evolve Buys Vivant for $2.7 Million in Stock and Cash
		 mail? top

		 EMERYVILLE, Calif. (VENTUREWIRE) -- Evolve, a publicly traded company that
provides strategic workforce optimization software, announced it has acquired
the core assets of Vivant, which operates an Internet marketplace for
sourcing and managed IT contractors, for $2.7 million in stock and cash plus
certain future contingent payments. The assets being acquired include
Vivant's contractor management technology and Vivant's marketplace service.
Evolve said it will also retain key Vivant employees, including Jennifer
Callison, Vivant's vice president of product marketing. Cindy Padnos,
Vivant's President and CEO, will join Evolve as a consultant. Vivant is
backed by AVI Management Partners, E*O Investors, Imperial Ventures, and
Internet Capital Group.
		http://www.evolve.com
		http://www.vivant.com

		Training Software Firm Baydon Buys Human Dynamics for $1M
		mail? top

		 DUBLIN, Ireland (VENTUREWIRE) -- Baydon Solutions, which develops software
for training and supporting employees, said it acquired Human Dynamics, a
consulting and training services firm, in a cash-and-stock deal valued at
approximately $1 million at the end of April. Baydon, which had a four-year
working relationship with Human Dynamics, said it will integrate all of Human
Dynamics' offerings and services into its company, and will also occupy Human
Dynamics' offices in Overland Park, Kan. The company will not lay off any
employees and is looking to hire a minimum of seven to 10 people in the
services and development divisions. Baydon received financial advice from
Andersen Accounting in London and Human Dynamics received legal counsel from
Douthit Frets Rouse & Gentile. In addition Baydon said it was currently
raising a $4 million to $5 million second round targeted to close this
summer. Andersen Accounting is acting as the underwriter for this round.
Baydon Solutions previously raised $1.5 millio! n in first round funding at
the end of 1999.
		http://www.baydon-solutions.com
		http://www.hdynamics.com

		World Internetworks Merges With Trace Affex
		mail? top

		 SAN JOSE, Calif. (VENTUREWIRE) -- World Internetworks (WINS), a publicly
traded company that provides repair, remarketing, and logistics applications
to the data storage market, said it will merge with San Jose, Calif.-based
Trace Affex, which provides duplication and printing system applications and
CD/DVD storage systems. Terms of the deal were not disclosed. WINS said that
no layoffs or office closings will occur and Trace Affex's management
structure will maintain intact. WINS is currently completing an acquisition
of San Jose-based Gtdata. When the deal is finished, WINS will change its
name to Gtdata and become a holding company of Trace Affex and TSLI, another
recently acquired company. WINS is advised by investment bank Canaccord
Capital, based in Toronto, Ontario. Trace Affex is backed by Toronto-based
Quorum Growth Partners and private investors. It had raised appoximately $1
million to date.
		http://www.trace.com

		JB Oxford Buys Certain Assets of eCapitalist Financial
		 mail? top

		 LOS ANGELES (VENTUREWIRE) -- JB Oxford & Co., a provider of discount
brokerage services and a subsidiary of publicly traded JB Oxford Holdings,
announced it has agreed to acquire the customer assets of eCapitalist
Financial Services, a broker dealer. Terms of the cash acquisition, which is
expected to close in the second quarter, were not disclosed. The market value
of eCapitalist's customer assets is approximately $30 million, said a JB
Oxford & Company spokesperson. Some e-Capitalist employees may join JB Oxford
& Company in an agreement separate from the asset acquisition. Law firm
O'Melveney and Myers advised eCapitalist in the deal, while JB Oxford &
Company used inside advisors. eCapitalist Financial Services is backed by
undisclosed venture capital firms and individual investors.
		http://www.ecapitalist.com
		http://www.jboxford.com

		EverythingTele.com Acquires TekSell.com in Stock Deal
		 mail? top

		 GERMANTOWN, Miss. (VENTUREWIRE) -- EverythingTele.com, a
business-to-business telecommunications portal, said it has acquired the
assets of TekSell.com, which provides business-to-business auctions of
information technology equipment, in an all-stock deal. Terms of the
acquisition were not disclosed. TekSell.com, which had received more than $1
million from North Carolina Enterprise Fund and individuals, ran out of cash.
EverythingTele.com will operate TekSell.com's auction platform and will
integrate the platform into EverythingTele.com's offerings. No TekSell.com
employees will join EverythingTele.com. Bass, Berry & Sims advised
EverythingTele.com in the deal. EverythingTele.com is backed by more than
$250,000 from individual investors, and expects to have positive cash flow in
the third quarter.
		http://www.everythingtele.com
		http://www.teksell.com

		 new directors
		?
		E-Marketplace OneMade Names John J. McLaine Chair. of Board
		 mail? top

		 WASHINGTON (VENTUREWIRE) -- OneMade, an online arts and crafts marketplace,
announced it has appointed John J. McLaine chairman of the board. Mr.
McLaine, who has been a director on the board for a year and a half, serves
as president and CEO of McLaine Ventures and has served as president of Excel
Communications. He replaces Liavin Mallin, who remains on the board. OneMade
is backed by Eircon, U.S. Technologies, and individuals. Earlier this week,
VentureWire reported that OneMade acquired Burlington, Vt.-based Collector
Online, which operates an online antique mall, in an all-stock deal.
		http://www.onemade.com

		 new people
		?
		Mobile Software Provider Bwirelezz Names New CEO
		 mail? top

		 AMSTERDAM, The Nethelands (VENTUREWIRE) -- Bwirelezz, a provider of mobile
business software, announced the appointment of Patrick Morley as chief
executive officer. Mr. Morley, who currently serves as chief technical
officer and board member of Royal KPN N.V., will assume full executive
responsibilities at Bwirelezz by the month's end. He replaces co-founder
Tymen Selman, who will remain with the company in a sales, marketing, and
business development role. To date, Bwirelezz has raised approximately $1.3
million in financing from The New Economy Trust and unnamed individuals. The
company, which maintains operations in the Netherlands and Sweden, is
currently seeking venture capital.
		http://www.bwirelezz.com

		Ronald Brumback Named Pres. & COO of Top Layer Networks
		 mail? top

		 WESTBORO, Mass. (VENTUREWIRE) -- Top Layer Networks, which specializes in
high-speed, high-performance network security, said it appointed Ronald
Brumback as its new president and first chief operating officer. Mr. Brumback
replaces Bruce Cohen in the position of president, and after a short
transition period, will also assume Mr. Cohen's CEO title. Mr. Brumback will
also take Mr. Cohen's seat on the eight-member board, which includes chairman
Mike Shanahan and Barry Spinney, the company's founder and vice president of
engineering. Mr. Cohen, who has been with the company for the last three
years, will leave to pursue other opportunities. A Layer Networks
spokesperson said the company began searching to fill the COO position in
January 2001. When Mr. Brumback was introduced to the company through Steve
Garfinkle of the Boston office of executive search firm Battalia Winston, it
was decided that he would join the company in a capacity higher than that of
a COO. Prior to joining Top Layer Mr. Brum! back was president of
Illinois-based Navigation Technologies. Founded in 1997, Top Layer is backed
by 3Com Ventures, Banc of America Securities, Brad Peery Capital,
Egan-Managed Capital, Fidelity Ventures, Granite Ventures, ITOCHU Finance,
LSI Logic, Morgan Stanley Dean Witter, MSD Capital, Raza Ventures, Technology
Crossover Ventures, TI Ventures, Van Wagoner Capital Management, and private
investors.
		http://www.toplayer.com

		Sur La Table Names Tim Hopkins as New CEO
		 mail? top

		 SEATTLE (VENTUREWIRE) -- Sur La Table, an online, traditional retail, and
catalog kitchenware company, said it has named Tim Hopkins as chief executive
officer. Prior to his appointment, the company was headed by Carl Behnke, who
will remain with the company as chairman. Most recently, Mr. Hopkins served
as president and CEO for kitchenware retailer Le Gourmet Chef. He will also
serve on Sur La Table's nine-member board of directors that includes Jon
Ralph and Charles Rullman, both of Freeman Spogli & Co, Thomas Simpson of
Northwest Venture Associates, and Dennis Weston of Fluke Venture Partners. In
March 2000, Sur La Table raised $20 million in second round financing from
Fluke Venture Partners, Freeman Spogli & Co., Northwest Venture Associates,
Pacific NW Partners SBIC, TWB Investment Partners, as well as individual
investors including the members of the Behnke family, Arthur and Eva Wahl,
and Peter Starrett.
		http://www.surlatable.com

		 vc fund news
		?
		Irish Investment Firm Crucible to Open New Office in Belfast
		 mail? top

		 DUBLIN, Ireland (VENTUREWIRE) -- Crucible, an Irish early stage investment
company, announced it plans to open an office in Belfast. The company also
announced it has raised $10 million in funding, which will be available for
investments in Northern Ireland technology companies. Crucible said the
funding was provided by members of the technology community in Northern
Ireland, institutional investors, and undisclosed U.S. venture capital
organizations. Crucible said it is currently in Belfast, Ireland, and expects
to open its office by the end of the summer when it also expects to make its
first funding announcement. The company said it has appointed Denis Murphy of
Openwave to head a team of Crucible's board of adviors in Northern Ireland.
Crucible's portfolio includes Dublin include Mobileware, Marrakech, Aran
Technologies and Openet Telecom.
		http://www.cruciblecorp.com

		 vc personnel
		?
		VC Management Firm Beacon Telco Appoints Avi Legmann as VP
		 mail? top

		 BOSTON (VENTUREWIRE) -- Beacon Telco, a venture capital management company
that provides funds and incubation services for broadband communications
companies, announced Avi Legmann has joined as the company's first vice
president. Mr. Legmann recently served as vice president of business
development and marketing at Elron TeleSoft. Beacon Telco, which currently
employs four investment professionals, said it will add another partner in
the next quarter. Tech holding company Beacon Photonics formed Beacon Telco
and has contributed $14 million to the venture capital management company's
first fund. Beacon Telco is currently raising an additional $30 million to
$50 million for the same fund, which maintains a carried interest of 20% and
5% management fee. The fund will invest between $1 million and $2 million in
seed financing for $4 million to $5 million in total investment. Beacon Telco
expects to invest in three to five companies each year in the optical
component, optical system, and storag! e sectors of broadband communications.
So far it has two portfolio companies. Beacon Photonics, which owns Beacon
Telco, is backed by Boston University, GlobalVest Management Company, and
consulting company PRTM.
		http://www.beacontelco.com

		 vw corrections
		?
		Bridium
		 mail? top

		 NEW YORK (VENTUREWIRE) -- A story in Wednesday's VentureWire about Bridium's
$3.5 million funding round contained an incorrect description of the
company's services. Bridium is a developer of insurance claims software, not
marketing claims software.

		Saipx
		 mail? top

		 NEW YORK (VENTUREWIRE) -- Due to incorrect information from DataMirror, a
story in Monday's VentureWire listed Royal Bank of Canada and RT Capital as
investors in saipx, which was acquired by DataMirror. Saipx was self-funded.

		company index
		top

		American Computer Experience, Avexus, Bang Networks, Baydon Solutions, Be
Here, Beacon Photonics, Bharti Televentures, BizAid, BlackHog.com,
BlueLight.com, BlueTie, Brainshark, Bwirelezz, Bwirelezz, CapitalStream,
CapMan Capital Management, Captivate Network, CGTime, Colubris Networks,
CombineNet, Concord Ventures, Crucible, Cryptek Secure Communications,
eCapitalist Financial Services, Endymion Systems, EverythingTele.com, Evolve,
fusionOne, GMAC Financial Services, Gray Cary Ware & Freidenrich, Human
Dynamics, Iclubcentral.com, InfoMove, Infraworks, IpSEAL, JB Oxford &
Company, Jenoptik, KAL, Lambda Physik, MEGA International, Metrika, Milkhaus
Laboratory, Molecular Mining, OneMade, OneNest.com, PocketMail Group,
PocketScience, Reasoning, SigmaTel, SpaceVest Management Group, Stream
International, Sur La Table, TekSell.com, TestChip Technologies, Top Layer
Networks, Top Layer Networks, Trace Affex, Viewlocity, Vivant!, WebEvent,
WebEvent, Workspeed, Xigo, Zarix

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		legal

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saved, or otherwise copied into a database without the prior written consent
of Technologic Partners.

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		,2001 Technologic Partners
			?


This is the best I could do from Legal...hope it's helpful.  SRS


How about drinks at 5:30 on Thursday.   I try not to interrupt work with
personal business.

"Gapinski, Michael" <michael.gapinski@painewebber.com> on 02/25/2001 03:13:29
PM
To: "'John.Arnold@enron.com'" <John.Arnold@enron.com>
cc:
Subject: RE: Buying back calls

John -

I completely understand your point of view.  PaineWebber knows affluent
investors such as yourself want access to alternative investments such as
private equity and hedge funds.  Our group has also found that high net
worth individuals prefer a consultative relationship where we help you
structure a complete asset allocation based on your objectives.  We then
provide you with access to, and help you select, third-party institutional
money managers to make the day-to-day investment decisions.  We also provide
the ongoing performance monitoring of those managers, including correlations
to the appropriate indices.

I believe you will find our approach to be appreciably different from your
previous contacts with financial advisors, where you have felt the advisor
was 'pushing' a house fund or stock du jour.  If your schedule permits, I
would like to meet with you on Thursday afternoon to discuss this in more
detail.  How does 4 PM sound?

- Mike

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Saturday, February 24, 2001 10:41 AM
To: michael.gapinski@painewebber.com
Subject: RE: Buying back calls

Michael:
Thanks for putting the paperwork together.

I would have interest in meeting if you can present unique investment
opportunities that I don't have access to now.  Most of my contact with
financial advisors in the past has consisted of them suggesting a mutual
fund, telling me to invest in Home Depot, Sun, and Coke, or trying to pass
off their banks' biased research reports as something valuable.  The above
services provide no value to me personally.  If you can present
opportunities such as access to private equity or hedge funds, or other
ideas with strong growth potential and low correlation to the S@P, I'd
listen.

John

"Michael Gapinski" <michael.gapinski@painewebber.com> on 02/21/2001
08:23:04 AM

To:   "'John.Arnold@enron.com'" <John.Arnold@enron.com>
cc:   "'Rafael Herrera'" <rafael.herrera@painewebber.com>
Subject:  RE: Buying back calls

John -

We'll get the paperwork together and sent to you for naked options.  At
some point, I'd like to talk about the diversification strategy in more
detail -- perhaps over dinner or a quick meeting after the markets close?

Michael Gapinski
Account Vice President
Emery Financial Group
PaineWebber, Inc.
713-654-0365
800-553-3119 x365
Fax: 713-654-1281
Cell: 281-435-0295

-----Original Message-----
From:     John.Arnold@enron.com [SMTP:John.Arnold@enron.com]
Sent:     Tuesday, February 20, 2001 10:14 PM
To:  michael.gapinski@painewebber.com
Subject:  Re: Buying back calls

Michael:
Appreciate the idea.  However, with my natural long, I'm not looking to
really trade around the position.  I believe ENE will continue to be range
bound, but in case it is not, I don't want to forgo 50% of my option
premium.
I have price targets of where I would like to lighten up exposure to ENE
and will use calls to implement the stategy.  To that regards, I noticed I
was not approved to sell naked calls.  I would like that ability in order
to hedge some exposure I have of unexercised vested options.  Please look
into that for me.
John.

"Michael Gapinski" <michael.gapinski@painewebber.com> on 02/20/2001
06:28:27 PM

To:   "'Arnold, John'" <john.arnold@enron.com>
cc:
Subject:  Buying back calls

John -

I was looking at the recent pullback in ENE and thinking it might be an
opportunity to buy back the calls you sold.  Of course, you would then be
in a position to sell calls again if the stock makes a bounce.  I'm not
sure that ENE @ 75 is the place, but maybe @ 73.  Call me if you're
interested.

Michael Gapinski
Account Vice President
Emery Financial Group
PaineWebber, Inc.
713-654-0365
800-553-3119 x365
Fax: 713-654-1281
Cell: 281-435-0295

Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by PaineWebber and
PaineWebber will not be responsible for carrying out such orders
and/or instructions.  Notice Regarding Privacy and Confidentiality:
PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.

Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by PaineWebber and
PaineWebber will not be responsible for carrying out such orders
and/or instructions.  Notice Regarding Privacy and Confidentiality:
PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.

Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by PaineWebber and
PaineWebber will not be responsible for carrying out such orders
and/or instructions.  Notice Regarding Privacy and Confidentiality:
PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.


January 28, 2002

TEXAS EASTERN TRANSMISSION (TE) South Pass System has been nominated
over capacity for gas day Tuesday, January 29, 2002.  As a result, TE
has restricted the receipts on the South Pass lateral to the capacity of
the line. No physical increases will be allowed for meters on South Pass
for gas day January 29, 2002.

The South Pass meters are listed below:

METER                                    METER
NUMBER  METER NAME                       OPERATOR
------  -------------------------------- ------------
72137   MARATHON - WD 86, LA             MARATHON OIL
72138   MARATHON - SP 89-B, LA           MARATHON OIL
72319   EXXON - SP 93, LA                EXXON CO
72555   D&G ENERGY CORP. - WD 25, LA     D&G ENER COR
72831   MARATHON, BLK 86 - S. PASS, LA   MARATHON OIL
72849   SAMEDAN OIL CORPORATION - 365 MC SAMEDAN OIL
72972   WALTER OIL & GAS - WD 106, LA    SUPERIOR NAT
73027   MARATHON - SP87, LA              MARATHON OIL
73073   SHELL OFFSHORE , WD 143, - LAO   SHELL OFF

Please contact your Operations Account Manager if you have any
questions.

*******************************************************************

NOTE:

Duke Energy Gas Transmission respects your online time and privacy.
You have received this email because you elected to subscribe. To
unsubscribe, login to the E-mail Notification Subscription page at
http://www.link.duke-energy.com/script2/Notification.asp
uncheck the appropriate checkbox, and click the Submit button.


Mark:

What do you know about the issue of electronic signatures?  Is this service
or a similar service something we should further explore?

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 07/10/2000 10:11 AM -----

	Dave Samuels
	07/10/2000 09:58 AM

		 To: Leslie Hansen/HOU/ECT@ECT
		 cc:
		 Subject: AlphaTrust: Providing a Legal Framework for Electronic Signatures

I received this solicitation from this company last week.  Do we have any
interest in discussing anything further with them?  (all of the attachments
appear to be messed up, but the website provides more detail)

thanks
Dave

---------------------- Forwarded by Dave Samuels/HOU/ECT on 07/10/2000 09:54
AM ---------------------------

Randall Whitfield <Randall.Whitfield@AlphaTrust.com> on 07/07/2000 04:51:30 PM
To: "'Dave Samuels'" <Dave.Samuels@enron.com>
cc:
Subject: AlphaTrust: Providing a Legal Framework for Electronic Signatures

Dave,
Thank you for the prompt reply.
There are many areas where electronic signatures can reduce business costs
and enable new applications.  But, most importantly Enron and Enron Online
needs to know they can trust an electronic signature.  AlphaTrust can
serve as the 3rd party managing your electronic signatures including risk
management.  There are many costs associated with implementing an
electronic signature service with the polices and legal requirements.  And
typically there can be a 12-18 month time frame to implement.

AlphaTrust provides the infrastructure,
AlphaTrust provides the legal framework and fraud protection across all
jurisdictions including internationally,
AlphaTrust can enable your business to get started quickly.

I will call you next week to follow-up.  If you like we can coordinate a
call with your legal counsel and my CEO who understands the laws to a
great extent.

Thank you,
Randall Whitfield
p. 214.290.1905
randall.whitfield@alphatrust.com
This e-mail is electronically signed. As a prudent business practice, we
electronically sign e-mail, and prefer that our customers and business
partners do as well. For information please visit:
http://alphatrust.com/e-signed-mail.asp

 - AlphaTrust ESIGN Sum.doc
 - AlphaTrust Service sum.doc
 - Policy Issues in E-commerce Applications - BBTEs.pdf


Morris:
Could you please review and sign off on the tax language?  Thanks.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 05/25/2001 03:07 PM -----

	Carol St Clair
	05/25/2001 02:52 PM

		 To: Julia Murray/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT
		 cc: Dan Lyons/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT, Peter del
Vecchio/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT
		 Subject: Steel Master Form

Julia and harry,
Enclosed is a revised draft of the Steel Master Agreement for your review.
Could you please forward this to Cheryl?  Thanks.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Alright, which one of you sent the "Just a Tip" thing? I haven't opened it
yet. Is it ok to open at work? I'm serious. This is a small place, and I
just started, and they're pretty straight laced around here. If I open
something bad and get fired I wouldn't be too happy.


Hi Andy.  Here's my suggestion (actually it was yours):

Product 1	Fin Power Swap
	Web Visible
	Offered Qty: 50
	Qty Increment: 5
	Min Qty: 5 (or whatever you want to use as a minimum)
Product 2	Fin Power Swap
	Ghost Product - not web visible
	Offered Qty: 200
	Qty Increment: 1
	Min Qty: 1
	Base Link to Product 1 with Bid = 0, Offer = 0, Offset to Last trade of 0 with reset qty of 200
	NOT Auto-hedged to Product 1
Product 3	Fin Power Option
	Auto-hedged to Product 2.

Here's what will happen:

Suppose the option is traded and to hedge it requires a qty of 15.  The actual hedge will be against Product 2.  Product 2 offered qty will reduce to 185.  Since Product 2 is not auto-hedged to Product 1, there will be no impact on the main swap.  The prices for Product 2 will always be exactly those of Product 1 since the bid and offer are 0.

Note: Eventually, the offered qty for Product 2 will reduce below the amount needed for hedging a particular trade (for instance, if every trade required a hedge qty of 15, then after 13 trades, your remaining qty would be 5).  This is not a problem.  The hedging model for options allows for not enough volume being available on the swap.  The next trade would simply get fully hedged and pop the qty back up to 200.  Since it has an offset to last trade of 0, the bid and offer prices would still be those of Product 1.

Also Note:  We will have to make sure the power IT guys are prepared to get essentially the same swap (Product 1 and Product 2) under two different product ids.

Does this make sense?

--jay


Rescheduled from 5/5/00


---------------------- Forwarded by Jeff Brown/NA/Enron on 03/20/2001 12:43
PM ---------------------------

FTE Newsletters <FTE_Newsletters@FTENERGY.COM> on 03/16/2001 01:43:12 PM
Please respond to custserv@FTENERGY.COM
To: TW_NEWS@LIST1.RESDATA.COM
cc:

Subject: Transmission Week - March 19, 2001 -- 9 pages

 - tw010319.pdf


Lisa Bills and I spoke concerning this transaction, and what kind of document
we can put in front of Peoples at this time.  Here are the highlights from
our conversation:

Enron can't enter into a binding commitment to purchase the equipment without
putting the Moore project on the balance sheet.  Therefore, either WestLB
needs to enter into the agreement with Peoples or Enron can enter into an
option agreement.  There is room in the WestLB facility for the turbines;
however, RAC needs to approve the purchase.  Lisa advises that Transaction
Support (Herman or Roger) needs to buy in as well.

I understand we would like to present a binding agreement to Peoples
tomorrow, however, this appears to be problematic given the need to keep the
Moore project off the balance sheet.

I'm available to discuss this.  Lisa advises that she will be in tomorrow as
well.

Lisa, please correct me if any of this is not accurate.

Kay


Following is the editorial that resulted from IEP's editorial board meeting
with the Orange County register on
May 24:

Is price gouging root of crisis?
Orange County Register Editorial
May 21, 2001

The president is "allowing the price-gouging energy companies, many of whom
reside in Texas, to get away with murder," Gov. Gray Davis said on Thursday
in response to a George W. Bush energy plan that doesn't call for caps on the
price of electricity sold by out-of-state generators to California.

This remark captured the essence of the Davis approach to the energy
problems: Blame everybody else, call for government price controls even
though they historically have reduced the supply of energy, and use divisive
and even conspiratorial rhetoric.

On the same day Governor Davis was blasting the Bush energy plan, his
appointee who runs the Public Utilities Commission, Loretta Lynch, told a
newspaper that power generators purposefully keep their plants idle to jack
up prices. Attorney General Bill Lockyer said that he found evidence of what
Ms. Lynch called "artificial shortages."

We're interested in seeing the evidence, of course. But it looks suspiciously
like politicians are using the "power-gouging" theory as a way to bluster
rather than come up with concrete solutions. It also is a way for those who
are ideologically hostile to deregulation - perhaps cynical of business and
capitalism in general - to demonize merchant generators and pave the way for
a government takeover.

No doubt, wholesale electricity prices have skyrocketed. Prices zoomed from
$200 a megawatt hour late last year to nearly $2,000 last week, according to
the San Francisco Chronicle. The newspaper reports that plant shutdowns are a
cause of the price spike.

Yet a number of analysts have found the price-gouging theory to be dubious. A
Dow Jones Newswire column analyzed Federal Energy Regulatory Commission data
on the amount of forced outages over the past two summers. Yes, there were
nearly four times as many plant closures by plants owned by five big
producers in summer 2000 than in summer 1999. But, as writer Mark Golden
pointed out, outages for all plants - including municipally owned ones and
small Qualifying Facilities that have no incentive to game the system - were
658 percent higher in summer 2000 than in summer 1999. The writer notes that
"four of the Big 5 are either constructing big new generators in California
or have applied for permits to do so. That would seem to fly in the face of a
withholding strategy."

An April paper co-authored by William Hogan, a professor at the John F.
Kennedy School of Government at Harvard University, could not prove there
wasn't manipulation, but explained, "it is unlikely to be the dominant factor
and may not even be significant."

The bigger issue, the Hogan paper argued, is the "seriously flawed"
restructuring system that caused the electricity market collapse. "[T]he
principal policy focus should be on fashioning workable solutions for the
other more serious problems in the market design that relate to the
underlying causes of the market meltdown."

Other analysts argue that, to whatever degree price-gouging has taken place,
it is solely the fault of the retail price caps and other government rules
that have distorted the market.

The large number of shutdowns has not been the result of any conspiracy, the
power generators say, but the result of needed maintenance on facilities that
have been overworked. Many of these are older plants that require more
shutdowns for maintenance than new ones.

"People can invest money in various different markets," Jan Smutny-Jones told
us; he is executive director of the Independent Energy Producers Association
in Sacramento, which represents QFs and merchant generators. With politically
charged hearings, demonization of power generators, proposals for
excess-profits taxes and threats of seizing property made by California
Democrats, he said generators may conclude that California is a dangerous
place to invest.

Gov. Davis said the Bush plan won't add any new electrical power. But neither
will Davis' grandstanding about price-gougers.

In fact, it may even dissuade electricity investment. The governor needs to
apply his "will it create new power?" standard to his own rhetoric, then get
busy leading the state out of this mess.


I didn't want this just popping up on your screen.

So far it's just getting worse!!!  I've already been up there three times
today and of course each extra trip lowers the P&L.  He must think I'm the
biggest idiot in the world.  I'm going to have to change my name to get
another job after he fires me.  When he saw me standing outside his office
this last time he just spread his hands like what could possible be wrong
now!!

If you want to make a lot of money and are willing to take this job back
now's your chance.  I think John would pay you $100,000 to take back over.

Talk to ya later,
Robin


713/646-3490

	Joan Quick
	07/27/2000 06:08 PM

		 To: Dan J Bump/DEN/ECT@Enron, Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: crescendo gas contract

i just received this contract - have not looked it over yet.  let me know
what your fax # is and i will fax it to you.

joan


-----Original Message-----
From: 	Carlsbad, Team
Sent:	Friday, August 24, 2001 4:30 PM
To:	Graves, Jerry
Cc:	Schoolcraft, Darrell; Bailey, Arnie; Jolly, Rich; Lawrence, Ed
Subject:	WT-1 Substation Maintenance

See attached document.


pls print.  thanks.
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 03/08/2001
05:59 PM ---------------------------
From: Rod Hayslett/ENRON@enronXgate on 03/08/2001 05:17 PM
To: Michael P Moran/ENRON@enronXgate
cc: Drew Fossum/ET&S/Enron@ENRON

Subject: FW: TGB

Comments?

 -----Original Message-----
From:  Hawkins, Don
Sent: Thursday, March 08, 2001 4:30 PM
To: Hayslett, Rod
Cc: Lowry, Phil
Subject: TGB

Rod, I have an e mail stating that TBG has found sufficient funds for the
bridge financing associated wither E&C activities of the three compressors
stations and that Pete Weidler has agreed to allow E&C to roll the cost of
equipment (compression) into the EPC price.
The compression is to be ordered by ETS on the behalf of GTB.  My question is
which ETS company will the equipment be ordered through?  GTB has made
reference of EAMR in the LOI signed with Solar but I question that statement.

Son


Roger - thanks for the review; we want to raise the "wholesale distribution"
concept

Jeff - we will rely on GA to identify our most successful forum (e.g.
workshop, hearing, other); generally we are in support of this proposed
decision as it establishes a CPUC/CEC commitment to address "behind the
meter" competition and the role of the UDC

Phil - we will require technical engineering experts for the workshops and
hearings

Greg
---------------------- Forwarded by Greg Cordell/HOU/EES on 10/12/99 09:38 AM
---------------------------

Roger Yang
10/11/99 12:44 PM
To: Jeff Dasovich/SFO/EES@EES
cc: Greg Cordell/HOU/EES@EES
Subject: CPUC Draft Decision on Distributed Generation and Electric
Distribution Competition

Jeff,

The purpose of this e-mail is to reply to your e-mail to EESO requesting
input on the CPUC's draft decision on distributed generation and electric
distribution competition.  As you already know, EESO is very interested in
"behind the meter" competition including distributed generation, as well as
other competitive opportunities.  I understand that decision puts forth
procedures and identifies issues that need to be addressed for distributed
generation and electric distribution competition.  The decision does not
address an opinion on the issues identified; hence, I will not be providing
EESO's position on the issues.  The decision provides for testimony on issues
at a later point in time.  We will defer to Government Affairs expertise on
what are the most appropriate procedural steps.  I will limit my analysis to
identifying any issues that were not addressed by the decision.

The following is an outline of issues that I believe were identified by the
decision:

I. Retail Competition
 A. Wires Competition
  1. Distributed Generation/Distributed Energy Resources
   a. Interconnec tion (Workshop)
Definitions
Size Limitations
Voltage Level Interconnection options
Changes to Rule 21 for broader application, eliminating QF distinctions
"Type Testing"
Safety (Testimony)
Islanding (Workshop)
Statutory Amendments
b. Ownership an Operational Control (Staff Report)
Siting
Jurisdiction
UDC and affiliate ownership (Testimony)
c. Environmental Impacts
Air Quality
Visual Impacts
Noise Impacts
d. Rate Design and Cost Allocation
Cost Shifting
Stranded Investment (Testimony)
Bypass Fee (Testimony)
Standby Rates, including Firm v. Non-Firm (Testimony)
Flexible Rate Offering
e. Distribution System Planning Process (Workshop)
System Benefits
Reliability
Losses
Deferral of Distribution Investments
Relieve Constraints
DG  Distribution Valuation System (Testimony)
Additional costs
Impacts on PBR
f. Net Metering (Testimony)
Statutory Limitations
Rate bypass Issues
Public Purpose Programs
Consistency for all generation technology
g. Dispatch and Scheduling of Excess Generation (Workshop and Testimony)
Market Power
Must Run
Statutory clarification on what is a utility
Jurisdiction
h. Future Role of UDC (Testimony)
i. Distribution Service for Generators
Distribution-only Service (Testimony)
Jurisdiction (Testimony)
Unbundle Voltage Service Levels
j. Other
Impacts on California Air Resources Board
Emissions Credits
Impacts on Local Air Quality Districts
Local Governments
Building Codes & Permits
California Environmental Quality Act (Workshop)
2. Competition with Irrigation and Municipal Districts (Energy Division
Report)
 a. Local Government Franchises
 b. Stranded Costs
 c. Rate Flexibility
 d. Statutory Amendments for uniform construction, inspecition, reliability &
safety standards
 e. Obligation to serve
 f. Statutory Amendments for uniform Public Purpose Program requirements
 g. Local government tax advantages
3. Privatization of Distribution (Energy Division Report)
 a. Safety & Construction Standards
Interconnection
b. Uniform Standards
Jurisdiction
Legislative clarification
c. Obligation to Serve
d. Line Extension Rules
e. Public Purpose Program charge bypass
Alternate ways of funding
f. Wires only service unbundling
g. Rate Design
Bypass Charge
Standby
Rate Flexibility
Average Rate Structure
 h. Master-Meter & Submetering
Impact on construction costs
DSM cost effectiveness
Price Signals
Scale
Safety and Reliability
Impact on Direct Access Customer Choice
Cost Shifting
Legislative Amendments
Submetering Accuracy
Local Government Weights & Measures
Rates to submeter customers
4. Rights-of-Way Competition (Energy Division Report)
 a. Cooperation of Local Government
5. Independent Distribution Operator
 a. Pros/Cons
 b. Costs
 c. Use of ISO
 B. Energy Competition (Energy Division Report)
  1. Clear Separation of Monopoly & Competitive Services
   a. Cross-subsidies
  2. Provider of Last Resort v. Default Provider
   a. Competition for Default Provider Role
   b. Monopsony Market Power to influence market prices
   c. Mandarory PX Buy Requirement for Provider of Last Resort
   d. Economies of scale enjoyed fy the Default Provider
 C. Other (Energy Division Report)
  1. Social, Labor, and Economic Impacts
  2. DG Consumer Education

I believe this is  a fairly comprehensive list.  However, there are some
issues that I believe should either be identified or if already identified
better defined.  First, in the Energy Division's assessment of Energy
Competition and the clear separation of monopoly and competitive services,
the Energy Division should identify all of the assymetric rules,
responsibilities, and expectations placed upon ESPs compared to those of the
UDC default service provider.  For instance, hourly interval metering
requirements only apply to direct access customers and not to standard offer
customers.  Costs to fulfill regulatory requirements by the ESP are expected
to be recovered from market transactions; whereas, the utilities recover
these costs in non-competitive service rates.  These are examples of
competitive barriers that disadvantage ESPs.  Secondly, the decisions
reference to Standby Service on page 17 inappropriate implies that Standby
Service is only available from the UDC, when in fact ESPs can supply Standby
Generation Service as well.  The issue of Standby Service needs to unbundle
Standby T&D service from Standby Generation service, where these two issues
are looked at independently.  Third,  in addressing the Distributed
Generation issue of distribution service for excess generation the issue of
bidirectional distribution service needs to be more fully explored.  In other
words, if the customer is expected to pay for distribution service as a load,
some of the costs of distribution service for excess generation should be
offset by the payments already paid for distribution charges to the load.
Fourth, the issue of voltage service levels is in part addressed with respect
to interconnection.  Discounts for voltage service levels should be addressed
with respect to both loads and generation.  Finally, the issue of
interruptible service should also be addressed, because it is an unresolved
issue that is related to the issues above about distribution system benefits.

Roger


Can you print the attachment for me?  Thanks.
 -----Original Message-----
From: 	Jordan, Mike
Sent:	Thursday, May  17, 2001 9:59 AM
To:	Beck, Sally
Subject:	FW: Risk Management - FT advert

You should be interested in this
 -----Original Message-----
From: 	New, James
Sent:	17 May 2001 14:55
To:	Enron London Risk Management@ENRON
Cc:	Dyson, Fernley
Subject:	Risk Management - FT advert

As I am sure you are all aware recruitment of key quality people is paramount to the success of Risk Management. You should also be aware that many of us spend an awful lot of time on recruitment from talking to agencies to interviewing.

We currently have a number of vacancies and have been finding the CVs we have been receiving from recruitment agencies have not produced the pool of talent we need. As a result we have today placed an advertisement in the FT a copy of which is attached below. Of course none of you will of seen the advert because you don't look at the recruitment pages but just in case this is what is happening and why.

If there are any queries please give me a call or better still nominate someone and see if you can get any entry for the Z3.

James

 - 043040a.pdf


No... I think that is all that can be done. You could give hime a partial
refund for the shipping amount or something.

----- Original Message -----
From: "Saibi, Eric" <Eric.Saibi@ENRON.com>
To: <akhan@khanventures.com>
Sent: Thursday, January 10, 2002 7:57 AM
Subject: eBay Auction

Hey I sent this guy a food processor for about $30 that apparently got
damaged in the mail. He admittedthat it was packed well, but asked me what
"suggestions" I had.  I did not offer him insurance nor did he request it.
So I don't feel I am responsible.  He probably agrees although he is not
happy about getting a useless item.  I was going to write him back saying
sorry, but I don't feel responsible.  The USPS damaged the product and we
did not agree to have it shiupped insured.  Would you suggest something
different?

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


Heather,  Attached is the ash handling agreement with revisions.  Please
review.   I will be forwarding the coal handling agreement shortly.  The
changes should be similar.

Redline of this document will follow.


All

As part of the Trading Track's Training program,  each of you will provide an 1.5 - 2 hour presentation on either your region and/or a chosen topic by you to the Trading Track Participants.

Please add the following to your colander and contact Karen Buckley at x54667 with your presentation Topic or questions.

Room:		32C2
Time:		4 - 6 pm.

Wednesday, April 18th		Allen, Philip
Wednesday, May 2nd		Arnold, John
Wednesday, May 16th		Davis, Dana
Wednesday, May 30th		Gilbert-Smith, Doug
Wednesday, June 13th		Grigsby, Mike
Wednesday, June 27th		Martin, Thomas
Wednesday, July 11th		Neal, Scott
Wednesday, July 25th		Presto, Kevin
Wednesday, Aug 8th		Herndon, Rogers
Wednesday, Aug 22nd		Schwieger, Jim
Wednesday, Sept 5th		Shively, Hunter
Wednesday, Sept 19th 	Sturm, Fletcher

Again, if you have any questions or comments, please contact Karen Buckley.


---------------------- Forwarded by Eric Bass/HOU/ECT on 02/06/2001 10:50 AM
---------------------------

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 02/06/2001 10:28:40 AM
To: KATHY BASS <daphneco64@bigplanet.com>, kb <daphneco64@yahoo.com>, jason
<jason.bass2@compaq.com>, eric preston bass <Eric.Bass@enron.com>
cc:
Subject: Fw: Closed book quiz

----- Original Message -----
From: "Jack Rains" <jmrtexas@swbell.net>
To: <jmrtexas@swbell.net>
Sent: Monday, February 05, 2001 8:42 PM
Subject: Closed book quiz

>
>
> Take a moment to read this and you will understand why I am sending it to
> you, with love,
>
> jack
>
> This isn't like other quizes....don't bother getting a
> pen and paper...just read
>
>
>
> Stolen from elsewhere, but the sentiment is true.
>
> 1. Name the five wealthiest people in the world.
>
> 2. Name the last five Heisman trophy winners.
>
> 3. Name the last five winners of the Miss America
> contest.
>
> 4. Name ten people who have won the Nobel or Pulitzer
> prize.
>
> 5. Name the last half dozen Academy Award winners for
> Best Actor and
> Actress.
>
> 6. Name the last decade's worth of World Series
> Winners.
>
>
> How did you do?
>
> The point is, none of us remembers the headliners of
> yesterday. These
> are
> no second-rate achievers. They're the best in their
> fields.  But the
> applause dies. Awards tarnish. Achievements are
> forgotten. Accolades
> and
> certificates are buried with their owners.
>
> Now here's another quiz. See how you do on this one:
>
> 1. List a few teachers who aided your journey through
> school.
>
> 2. Name three friends who have helped you through a
> difficult time.
>
> 3. Name five people who have taught you something
> worthwhile.
>
>
> 4. Think of a few people who have made you feel
> appreciated and
> special.
>
> 5. Think of five people you enjoy spending time with.
>
> 6. Name a half dozen heroes whose stories have
> inspired you.
>
> Easier?
>
> The lesson?
>
> The people who make a difference in your life aren't
> the ones with the
> most credentials, the most money, or the most awards.
> They're the ones
> who
> care.
>
> When you have a chance, pass this on to people who've
> made a
> difference in your life.
>
>
>
> I did.
>
>
> Thank you,
>
> jack
>


Rod - I have not been specifically requested, but if you are asked here's my
input on selected folks whom I interfaced with on SAP.

Melissa Becker -Excellent; Delivered "80%+" of a huge project!

Mark Schmidt -Excellent; Solid technical skills; experienced; responsive to
Business Units (BU)

Kathy Kokas -Excellent; solid technical skills; thoughtful; service oriented
(but too much enterprise orientation versus BU sensitive)

Susan Bellinhausen -Strong; Has worked hard to deliver a myriad of reports
for users; solid attitude under pressure.

Emitra Nelson -Issues; Long on talk, short on delivery; unable to effectively
produce needed SAP reports in a timely and responsive manner

Rudy Elizando -Need Improvement; turned out to NOT be the best
depreciation/FERC resource. Prone to talk; evasive;
short on quality delivery.


FYI

Per Sheila's inquiry and at Sara's direction, I called Ken Raisler at
Cadwalader to determine if using the word "exchange" in a corporation's name
would create any regulatory problems with the CFTC.

Per Ken, there has been some historical sensitivity about the use of the word
"exchange" .  As we may have noticed though, a lot more companies are doing
so without concern.  He said there was no regulatory problem with the CFTC in
using "exchange" in your corporate name, however, putting "exchange" in a
company's name may put you on the CFTC's radar and get you more scrutiny.

He also said that there may be regulatory conerns in Singapore and Hong Kong,
so if we ever anticipate doing business there, it might not be a good idea.


Hiya,

Why don't you let me take care of the flowers--I'll call Tarrytown Florist
and pick up the flowers for the 2nd.  I'll also do flowers for the tables.
Can you forward me the email from mom?

Do you have an idea of what you want in the announcement--I'll take care of
that as well.

Am still curious about that statistic regarding siblings of MS people.  I
know that the agent that causes MS is found in people moving to the
NorthEast (or other industrial North sections)--but if you are born there or
move there as an infant, you are generally immune.  Also, if you move there
past a certain age--like 12, you are also not at risk.  Think that is
particularly interesting since our move to CT proves that out--Cara was too
young and you were too old to be at risk....will still ask again next time I
see the neurologist.  It's amazing how you learn to cope--I sort of forget I
have MS most of the time.

I think Geoffrey wants to take you to dinner...he's thinking of flying
down..

Cindy


Here are some pics of my new son, Mckennan Harris Carson, 8lbs 7oz, born on
10/19/00.

>

 - Dcp00850.jpg
 - Dcp00852.jpg
 - Dcp00853.jpg


Jeff,

I'm forwarding this resume to you in case you are looking to extend your team.

I met Emma last week at an Enron Europe gathering - her husband works here.

Regards,
Ellen

 -----Original Message-----
From: 	"Caplan, Emma" <Emma.Caplan@COMPAQ.com>@ENRON [mailto:IMCEANOTES-+22Caplan+2C+20Emma+22+20+3CEmma+2ECaplan+40COMPAQ+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, September 27, 2001 4:39 PM
To:	Wallumrod, Ellen
Subject:	Introduction

Hi Ellen

It was great to meet you yesterday. It was a most enjoyable night!

As promised, here is my resume. I'd be most grateful for any leads you
may have.

As a brief recap on yesterday's conversation, I am trained as a
solicitor in the UK and moved over here 18 months ago. I am currently
working at Compaq, but am very interested in looking at other
opportunities outside of the company. My current role is as a Contract
Manager within the supply chain organization. I  support several
business units and deal with a variety of legal issues, including
Procurement Contracts, Licensing Agreements and  NDA's.

Let me know if you have any questions.

Best Regards

Emma Caplan

 <<Emma Caplan version3.doc>>
 - Emma Caplan version3.doc