Please note new address and fax number:

Travis C. McCullough
Enron North America Corp.
1400 Smith Street EB 824
Houston, Texas 77002
Phone:  (713) 853-1575
Fax:      (713) 646-8860

 -----Original Message-----
From: 	Meyer, Vance
Sent:	Friday, September 21, 2001 2:38 PM
To:	McCullough, Travis
Subject:	FW: Enron Accused of Infringing Patent for Electronic Trading

 -----Original Message-----
From: 	Schmidt, Ann M.
Sent:	Friday, September 21, 2001 2:29 PM
To:	Shah, Kal; Meyer, Vance; Philipp, Meredith; Denne, Karen
Subject:	Enron Accused of Infringing Patent for Electronic Trading

Enron Accused of Infringing Patent for Electronic Trading
2001-09-21 15:07 (New York)

Enron Accused of Infringing Patent for Electronic Trading

     Marshall, Texas, Sept. 21 (Bloomberg) -- Enron Corp., the
largest energy trader, and its online unit are accused in a
lawsuit of infringing a Texas company's patent for an electronic
trading system.

     Bid/Ask LLC of Baird, Texas, formerly called Auction Source
LLC, said it is the sole rights owner of a patent issued in May
2000 for a ``Real-time Network Exchange with Seller Specified
Exchange Parameters and Interactive Seller Participation.''

     Houston-based Enron and its EnronOnline unit are improperly
using that patented technology through its Internet-based
electronic trading facility, according to the lawsuit filed Sept.
17 in federal court in Marshall, Texas. Enron trades commodities
such as natural gas and electricity on that trading network.

     Bid/Ask seeks a court order blocking Enron from infringing
the patent, and is asking for damages.

     EnronOnline began trading electricity and natural gas in
November 1999. Between then and the second quarter of 2001, it's
handled more than 1 million transactions valued at more than $685
billion, the company has said.

     Enron, which also trades space on fiber-optic networks, coal,
paper and other commodities, had net income of $979 million on
revenue of $100.8 billion in 2000.

     An official with Enron couldn't immediately be reached for
comment.

     Shares of Enron rose 13 cents to $28.52 in midafternoon
trading.


Thanks for offering your previous risk memo.  I accept all offers of prior
work product.

ckm


Shirley,

Please, put on my schedule.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/30/2000
05:19 PM ---------------------------

Sheryl Lara@ENRON COMMUNICATIONS

03/29/2000 05:21 PM

To: Scott Yeager/Enron Communications@Enron Communications, Vince J
Kaminski/HOU/ECT@ECT, Dorn Hetzel/Enron Communications@Enron Communications,
James Reece/Enron Communications@Enron Communications, David Reece/Enron
Communications@Enron Communications, Everett Plante/Enron
Communications@Enron Communications, Diane Hetzel/Enron Communications@Enron
Communications, Ravi Thuraisingham/Enron Communications@Enron Communications,
John Griebling/Enron Communications@Enron Communications
cc: Sue Wadsworth/Enron Communications@Enron Communications, Shirley
Crenshaw/HOU/ECT@ECT, Brenda Foresee/Enron Communications@Enron
Communications, Marie Thibaut/Enron Communications@Enron Communications,
Kristy Carnes/Enron Communications@Enron Communications
Subject: Visit by Jerry Sellers of Orillion

Gentlemen:

I have spoken with Jerry Sellers of Orillion and he is proposing a visit by
Orillion with EBS on Monday, April 25, 2000 for about half a day.  It can be
from 8:00 a.m. to 12:00 noon or 1:00 - 4:00.  They are flexible with the
times.

The following individuals will participate on behalf of Orillion.  They are
as follows:

     Jerry Sellers, Chairman
     Terry Lindsey, President
     Professor Ken Dick, Technical Advisory Board at University of Nebraska

Orillion would like to propose the following agenda:

     1.  Introduce Orillion to EBS
     2.  Engage in Technical Discussions
     3.  Discussions on how Orillion can help EBS

Please let me know if your schedules will best accommodate a morning session
or an afternoon session.  Many thanks for your prompt assistance.

Participants from EBS:
(Scott, if I have left anyone out, please advise)

Scott Yeager
Vince Kaminski
John Griebling
James Reece
David Reece
Everette Plante
Diane Hetzel
Dorn Hetzel
Ravi Thuraisingham


Here is the updated copy with ENA in the upper right hand corner. Please
approve, and
then I will forward it to Sean Black immediately.

Regards,
David

---------------------- Forwarded by David P Dupre/HOU/ECT on 11/05/99 10:42
AM ---------------------------

Dale Neuner on 11/02/99 01:15:58 PM
To: Sean Black/HOU/ECT@ECT, David P Dupre/HOU/ECT@ECT
cc:
Subject: Re: Catalytica

Absolutely. Great catch.

David, please make the appropriate changes.

Dale

Sean Black   11/02/99 01:13 PM

To: Dale Neuner/HOU/ECT@ECT
cc:
Subject: Catalytica

Dale,

I know you are turning over your prior duties but I had one question about
the Confirmation you sent down last week; the Enron Company Name in the upper
right hand corner was Enron Capital Trade & Resources.

Should this not be Enron North America?

Please advise

Thanks


Dear John:

So sorry for the delay.  I hope it hasn't caused too much inconvenience.  I
would have called to apologize in person but believe it or not I don't have
your phone number!   Here are my comments to the draft documents you sent:

Part 1 (b)  In our other derivatives trading, the cross default test applies
to Enron Corp. with a Threshold of US$100,000,000.  To accomplish this in the
schedule, Threshold Amount for the Enron party would apply to our Credit
Support Provider if there is going to be an Enron Corp. guaranty and the
dollar figure adjusted accordingly.

Part 1 (d)  Has Baker & McKenzie recommended this?  We rely on local counsel
advice for this provision but our preference is that the termination in a
bankruptcy context not be automatic unless it needs to be.  The risk in the
automatic situation is that the market moves significantly before we are even
aware of the situation, i.e. the outstanding transactions terminate
automatically, leaving us with an open, unhedged position which we are not
able to protect since we are not aware of it.  In the U.S. the bankruptcy
code allows us to terminate after the filing of a bankruptcy according to the
terms of the agreement so we know exactly the time to rehedge.

Part 1 (e)  We usually choose Loss here as the method which gives the
non-defaulting party the most flexibility.  Market Quotation is often
suggested because of its apparent objective nature.  However, in many of the
markets where we operate, quotations will not be available, where they are
available they may well not be meaningful, and the Loss method gives
flexibility (while still requiring commercial reasonableness).

Part 1 (h)(ix)  This Additional Event of Default only applies when there is
no collateral annex.   When we have the ability to ask for (or be asked for)
collateral in the case of a downgrading, we build that event into the
Paragraph 13 to trigger a reduction of the threshold to zero which requires
the posting of collateral to cover any open position.  If the party fails, it
then becomes a default allowing termination.

Part 1 (h)(x)  Wouldn't the cross default be triggered before this could
happen?

Part 2  Have our internal Tax people approved this?

Part 3  I am not familiar with the Representative Director concept or some of
the corporate documents referred to.  Since Enron Corp. will be a Credit
Support Provider, does it have a Representative Director, etc.?

The legal opinion requirement is one that we can waive if local counsel does
not think it necessary.  In many non-US jurisdictions, local counsel have
advised that an opinion be obtained - in some cases derivatives transactions
are so uncommon that they might be outside the ordinary course of business
and therefore require special board approval; in others, derivatives would
not be permissible activities for a company unless express provision is made
in the corporate documents, etc.

Part 5 (b) (g)&(h) These representations originate with CFTC rules in mind
(although they may be helpful for other reasons as well).  If neither party
is in the US, the CFTC reason may go away.  On the other hand, since we are
choosing New York law to apply the argument might be made that US federal law
applies as well.  If that is our theory, there are additional representations
(the Eligible Swap Participant reps) that we should think about putting back
in.

Part 5 (d)  We are currently evaluating whether we should revise this section
to make reference to the ISDA 2000 definitions.  While I think we will get
there, we haven't actually made the decision yet.  So far I guess we leave it
the way it is.

Part 5 (j)  My only concern here is with the value of the Enron Corp.
guaranty as a form for a guaranty from a Japanese entity.  Any differences in
Japan from US practice we should be worried about?

Paragraph 13  I have to admit I'm not as familiar with the Paragraph 13
provisions as the Schedule.  My only concern here is with the MAC clause and
it looks like there's a glitch in the form.  It seems to me that if the
counterparty is only rated by one of the 2 major agencies we shouldn't be
pegged with a MAC if only one of our agencies stops rating us.  The way it is
drafted now if either S&P or Moody's stops rating us, even if the remaining
rating is very high we will have a MAC occur.  The counterparty doesn't have
to worry about Moody's at all.  Just a thought.

On the guaranty, you will need to run the choice of law and jurisdiction
changes past Clement Abrams at Corp. Legal.  My only comment is that we would
usually have a cap that is a bit higher (in this case maybe an extra
$5,000,000) than the threshold in the CSA - that gives the counterparty a
little wiggle room if we fail to post collateral after the threshold is
exceeded.

Tana is preparing a red-line for me that hopefully will show all of the
changes between the US form and the Japan form.  I may have a few more
comments after I see how that comes out but don't expect many.

I hope this is helpful.  Please feel free to call and we can walk through
these over the phone if that would be useful.  We should also talk about the
most efficient way to prepare these going forward.  It might make sense for
Credit to send their worksheets to the paralegals here for a first draft
which would then go to you for review before going to the counterparty.  It
may slow things down by a day or two but it would free you up to work on
other things.

We're looking forward to having you back.


am i invited

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 1:24 PM
To:	Maggi, Mike
Subject:	RE:

i do it all of the time.  robyn said that when we are up and running again they are going to have something for their counterparties and she wants me to come.  who knows when that will be.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 1:23 PM
To:	Nelson, Michelle
Subject:	RE:

thats a long drive by yourself, when are you going to ny

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 1:22 PM
To:	Maggi, Mike
Subject:	RE:

i am hopefully leaving around 3.  i have to go to my house and get my baby.....my dog

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 1:21 PM
To:	Nelson, Michelle
Subject:	RE:

i got in around 10, so what time are we leaving

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 1:20 PM
To:	Maggi, Mike
Subject:

i don't let things go do i?  i'm just playing.  you can come if you want to.  where did you go to lunch?  have you been here all day?


---------------------- Forwarded by John M Forney/HOU/ECT on 12/07/2000 12:48
PM ---------------------------

Mary Hain
12/07/2000 12:18 PM
To: Tim Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Greg Wolfe@ECT, Chris H Foster/HOU/ECT@ECT, John M
Forney/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT@ECT,
Diana Scholtes/HOU/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Matt Motley/PDX/ECT@ECT,
Mark Fischer/PDX/ECT@ECT
cc:
Subject: FERC Attorney Says California May Not Ban Power Exports

FYI
---------------------- Forwarded by Mary Hain/HOU/ECT on 12/07/2000 12:24 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Ronald Carroll" <rcarroll@bracepatt.com>
12/07/2000 08:23 AM

To: <acomnes@enron.com>, <jdasovic@enron.com>, <jhartso@enron.com>,
<jsteffe@enron.com>, <mary.hain@enron.com>, <smara@enron.com>,
<snovose@enron.com>, <seabron.adamson@frontier-economics.com>,
<ellen@tca-us.com>
cc:
Subject: FERC Attorney Says California May Not Ban Power Exports

FYI - according to this article, a FERC commissioner informed Dow Jones that
FERC does not plan to expand the price cap to the entire Western region.

DJ FERC: Davis Can't Force Generators To Sell Pwr In Calif
Copyright , 2000 Dow Jones & Company, Inc.

LOS ANGELES (Dow Jones)--A move by California Gov. Gray Davis which seeks to
bar in-state generators from exporting their abundant power supply is a
violation of interstate commerce rules - and therefore will never be
implemented, an attorney with the Federal Energy Regulatory Commission told
Dow Jones Newswires.

Last month, energy officials proposed to Davis the possibility of forcing
in-state generators to sell all of their power into California, especially
during statewide power emergencies.

     Davis said Tuesday night he may still seek legislation to force
generators to sell their power supply here, which would help the state's grid
operator avoid rolling blackouts.

     But according to federal law, the state cannot prohibit companies from
doing business with other states, the attorney said, adding that it violates
interstate commerce rules.

     Part of the reason energy companies export some of their power is that
other states are willing to pay far above California's wholesale electricity
price cap of $250 a megawatt-hour.

     Tuesday, with the state teetering on the brink of rolling blackouts,
Northern California irrigation districts - government operated utilities that
supply water and power to farmers - sold about 400 MW of excess power to the
Northwest, reaping huge profits because customers there are not bound by a
price cap.

     The ISO - forced to compete with companies willing to pay $1,000/MWh for
electricity - narrowly avoided rolling blackouts Tuesday by paying about $1.1
million for 1,000 MW of power, which is $1,100 a megawatt-hour.

     Still, Gov. Davis is pushing FERC to impose a $100/MWh regional price
cap. But a FERC commissioner told Dow Jones Newswires that the commission
will very likely impose a $100/MWh price in California only. FERC's final
order on remedies California must undertake to repair its flawed market is
due next week.

     But the FERC commissioner said it's the state's current price cap of
$250/MWh that's destroying the wholesale market and resulting in generators
exporting their power for a profit.

     "If they can make $275/MWh in Nevada they have an obligation to their
shareholders," the FERC commissioner said.

     State lawmakers, meanwhile, want to force generators who conduct
business in the state to report all wholesale electricity transactions to a
state energy panel and register before selling power.

     -By Jason Leopold; Dow Jones Newswires; 323-658-3874;
mailto:jason.leopold@dowjones.com
     (END) Dow Jones Newswires 06-12-00

     2308GMT


I think we could probably do +.025 (we bid +.03 last month and I think he said .025 won.)

What do you think?

 -----Original Message-----
From: 	Reitmeyer, Jay
Sent:	Wednesday, November 14, 2001 11:01 AM
To:	Staab, Theresa
Subject:	RE: December Fuel Bid for Lost Creek

sure....005 lower than our last bid

 -----Original Message-----
From: 	Staab, Theresa
Sent:	Wednesday, November 14, 2001 12:00 PM
To:	Reitmeyer, Jay; Lucci, Paul T.
Subject:	FW: December Fuel Bid for Lost Creek

Do you want to bid this for December?

 -----Original Message-----
From: 	Sitter, Scott
Sent:	Wednesday, November 14, 2001 7:52 AM
To:	Staab, Theresa; Sylvia Reza (E-mail)
Cc:	Serrano, Walt
Subject:	December Fuel Bid for Lost Creek

Just wanted to remind you that the fuel bid for December (!) is due tomorrow.
The volume has been 500 - 1000 MMbtu.

Thanks,

Scott Sitter
Bear Paw Energy
Crestone Energy Ventures, L.L.C.
Ph:    (720) 946-3692
Fax:  (720) 946-3640
scott.sitter@enron.com


Here are a couple of demand charges I don't understand.  AGL released CES
some ESR (offer #18307) and WSR (offer #18210).  The demand portion of these
contracts being billed on k#1.3473.  What's up.


The PHONE INTERVIEW for Jimmy Liew is as follows:

Monday, June 11th
9am central time

Andy to call Jimmy at 212-989-7643

Thanks!
Toni
Human Resources
x39995

 -----Original Message-----
From: 	Cannon, Lydia
Sent:	Friday, June 08, 2001 9:20 AM
To:	Graham, Toni
Subject:	RE: Resume - JIMMY K. LIEW

Toni,

Andy is available on today, June 8 from 2pm - 4pm.  On Monday, June 11, 9-10 am and 1-4 pm.  Let me know if these times work for Jimmy Liew.

Thanks,

Lydia Cannon
Assistant to Andy Zipper
713-853-9975
713-408-6267 cell
Lydia.Cannon@enron.com

 -----Original Message-----
From: 	Graham, Toni
Sent:	Thursday, June 07, 2001 4:36 PM
To:	Cannon, Lydia
Subject:	FW: Resume - JIMMY K. LIEW

Hi Lydia,  I have a call in to the candidate to get his schedule.  What does Andy's schedule look like to do a PHONE interview?

Thanks!
Toni
Human Resources
x39995

 -----Original Message-----
From: 	Zipper, Andy
Sent:	Thursday, June 07, 2001 3:08 PM
To:	Graham, Toni
Subject:	RE: Resume - JIMMY K. LIEW

You're right he does look good. I am very interested. Can you set up a phone interview, and if that goes well bring him down for rounds.

 -----Original Message-----
From: 	Graham, Toni
Sent:	Thursday, June 07, 2001 2:48 PM
To:	Zipper, Andy
Subject:	Resume - JIMMY K. LIEW

Not local, but looks really good.   Let me know.

thanks
Toni

  << File: Jimmy-Resume.doc >>


print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 11/14/2000
05:06 PM ---------------------------

Mark Tawney
11/14/2000 02:31 PM
To: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Weather Memo

The Weather Risk Management Group will transfer Catherine Woolgar from the
Oslo office to the Houston office as soon as she is able to transition out of
her responsibilities in Olso.  In Houston, Catherine will assist in trading
the US portfolio and be responsible for a number of EOL cities.  Catherine
has developed a very good understanding of trading weather risk management
products and the peculiarities of the weather market.

Ross McIntyre in the London Office will continue to provide general support
to the Oslo office while developing relationships with the commodity desks in
London and with the market generally.  Additionally, Ross will continue to
assist in the development of the trade and portfolio analytical systems to be
utilized globally by the weather desks.

In oder to significantly grow the weather risk management business, we are
committed to the vision of trading and orginating locally while managing
globally.  Accordingly, the Weather Risk Management Group ultimately expects
to have weather trading in most Enron's offices that trade other commodities.


Okay... I admit it.. I was really out to lunch on this one.... especially since I owned Chase stock personally and now have JPM instead....

sg

-----Original Message-----
From: Glover, Sheila
Sent: Monday, October 01, 2001 12:10 PM
To: Shackleton, Sara
Cc: Dallmann, Shane
Subject: RE: Access Agreements

Sara,
This would be ENA.  I want to talk to Shane because it says "JP Morgan online FX system" but the agreement is with Chase.  With Chase, we would only be requesting Online trading functionality for an existing counterparty relationship.
Sheila

-----Original Message-----
From: Shackleton, Sara
Sent: Monday, October 01, 2001 11:30 AM
To: Glover, Sheila
Cc: Heard, Marie
Subject: FW: Access Agreements

Sheila:  Please send your usual message on this one.  I assume it is for ECT Investments Inc.
Thanks.  Sara

-----Original Message-----
From: Dallmann, Shane
Sent: Monday, September 24, 2001 8:45 AM
To: Shackleton, Sara
Subject: FW: Access Agreements

Sara,

We are setting up access to JP Morgan's online FX system. These are the documents they sent us to get signed before they will give us access. Are you the correct person to send them to?

Regards,
Shane

-----Original Message-----
From: CLAIRE.BURLEY@chase.com [mailto:CLAIRE.BURLEY@chase.com]
Sent: 18 September 2001 17:36
To: Dallmann, Shane
Subject: Access Agreements

---------------------- Forwarded by Claire Burley/CHASE on 18/09/2001 17:35
---------------------------

Tracey Tommasini
18/09/2001 13:37

Legal Department  +44 (0)20 7777 4880    Fax Number: +44 (0)20 7777 4758

To:   shane.dallman@enron.com
cc:   Claire Burley/CHASE@CHASE, Anna Bell-Booth/CHASE@CHASE
Subject:  Access Agreements

At the request of Claire Burley, attached please find the:

          Access Agreement
          ChaseFX - Electronic Trading Service
          Additional Terms Covering FX Transactions
          Authorized Users - Single FX Trade
          NetMatch Schedule
          NetMatch Authorized Users

between Enron North America and The Chase Manhattan Bank.

Please  note  that the attached documents can be viewed and printed but not
edited.  Please print, review and complete the Address for Notices which is
located  on page five of the Access Agreement as well as the Designation of
Authorized   Users   Form(s)   and  have  an  authorized  officer  of  your
organization  sign  each  of  the  agreements  and return two (2) hard copy
executed agreements to the attention of Tracey Tommasini, Legal Department,
The Chase Manhattan Bank, 125 London Wall, London  EC2Y 5AJ, United Kingdom
for further execution.

Please provide an incumbency certificate signed by the Corporate Secretary
for the person or persons who sign the agreements and form.

Should  you have any questions, please contact Andrew Hamper on +44 20 7777
1803.

Tracey Tommasini
Assistant

1.   (See attached file: Access Agreement (US law).doc)
2.   (See attached file: Chase FX Electronic Trading Service.doc)
3.   (See attached file: Additional FX Terms.doc)
4.   (See attached file: Authorized Users-Single FX Trade.doc)
5.      (See    attached    file:   NetMatch   Schedule   with   Settlement
Instructions.doc)
6.     (See  attached  file:  NetMatch  Authorized  Users  with  Settlement
Instructions.doc)


That's a better idea.  df

From: Louis Soldano/ENRON@enronXgate on 03/30/2001 07:45 AM
To: Drew Fossum/ET&S/Enron@ENRON, Dorothy McCoppin/ENRON@enronXgate
cc: Emily Sellers/ENRON@enronXgate

Subject: RE: Mon morning pre-ETS staff meetings

i think it is best if i continue to spend my time with Phil Lowry's direct
reports on monday morning...i'll start leaving you folks a voice mail on
sunday's if anything is hopping....

 -----Original Message-----
From:  Fossum, Drew
Sent: Friday, March 30, 2001 8:40 AM
To: McCoppin, Dorothy; Soldano, Louis
Cc: Sellers, Emily
Subject: Re: Mon morning pre-ETS staff meetings

Yes, lets continue to have the pre-meetings formerly known as Mike's every
Mon. at 8:30 (pls put on my calendar Emily).  I'll be in Houston this Monday
so just come to my office at 8:30 if you are both here.  Dot, pls cover the
staff meeting on Monday, April 9 as I'll be on vacation.  Also, pls cover the
Derrick large GC meeting at 9:00 am on April 12 as I'll be at NN's Keyex
meeting in Cal.  (I may be able to call in to this but would like you to
cover anyway in case something goes haywire). Thanks df

From: Dorothy McCoppin/ENRON@enronXgate on 03/29/2001 04:39 PM
To: Emily Sellers/ENRON@enronXgate
cc: Drew Fossum/ET&S/Enron@ENRON

Subject: Mon morning pre-ETS staff meetings

 If Mike has "checked out", will he then not be here on Monday at 8:30 for
pre-Stan meeting, or what?  Should I just
 call Drew?   When?


Attached is the letter to TVA.


Thanks for the in-depth information on our man of the hour, Ken Lay. I never
could have imagined he was such a diverse guy - walks on the beach, stormy
evenings by the fire, kittens, karaoke? Who knew!

Do you think you could find out his star sign for me?

Thanks,
Kate


Should I use this one or the suggestion from Carol St. Clair. Attache below.

---------------------- Forwarded by Jarrod Cyprow/HOU/ECT on 05/24/2000 08:27
AM ---------------------------
   Carol St Clair                05/23/2000 02:50 PM

To: Jarrod Cyprow/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT
Subject: Re: Prepaid Swap

Jarrod:
This looked fine to me.  My only comment is that in the definition of
Floating Price Payer payment Amount instead of the words "a sum" consider
using the words "an amount".
carol

	Jarrod Cyprow
	05/23/2000 02:14 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Prepaid Swap

I have attached a draft for a Prepaid Swap. This deal needs to be structured
in such a way that the Fixed price is payed once, and the floating price is
then paid every month. Please let me know if I can use the attached Draft.

If you have any questions please give me a call (ext. 35700).


You have received this email because you are listed as a security approver.
Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000009315&Page=
Approval to review and act upon this request.

Request ID          : 000000000009315
Request Create Date : 12/6/00 8:47:26 AM
Requested For       : maria.garza@enron.com
Resource Name       : EOL US Other
Resource Type       : Applications


Remarketing.


how much does it cost to fly?

 -----Original Message-----
From: 	Love, Phillip M.
Sent:	Friday, September 14, 2001 8:50 AM
To:	Giron, Darron C.; McLaughlin Jr., Errol; Mills, Bruce; Palmer, B. Scott; Ryder, Patrick; Taylor, Joey; Winfree, O'Neal D.
Subject:	Poker Time

Alright guys, the 3rd Thursday is upon us.  We will have our first Thursday night poker game next Thursday Sept.20th at my house.  Let's put a tentative start time of 7:30.  Please let me know if you will be able to attend so that I can get replacements if they are needed.  Here are directions to my house:
1. Take I-45 South towards Galveston
2.  Take exit #29 - Clear Lake City Blvd.
3.  Go through 3 lights(not including the freeway overpass) and 2 stop signs(about 4 miles)
4.  Take a left on Noble Pine(across the street from Children's World Daycare)
5.  When Noble Pine dead ends, take a right on Towering Oak
6.  Take an immediate left on Cherry Oak
7.  This street dead ends into Sterling Wood Way, take a left
8.  I am the third house on the right 4435.

281-486-7026

PL


How does Friday sound for our chicago compressor \ interconnection meeting?
Can you guys arrange a meeting room and lining-up one of ENA's compression
experts?  Tim will be ready to discuss his project and expected costs.  Let
us know what other information we should be prepared to discuss.

Richard


Please plan to attend  a meeting to discuss the September OPM Reports....

		Tuesday, October 30, 2001 at 3pm in EB3143B

If for any reason you will be unable to attend, please call Heather Choate at x33278.

Thank you.


yes, thanks

From: Suzanne Adams@ECT on 05/31/2001 11:38 AM
To: kay.mann@enron.com
cc:

Subject: Cingular Bill

Kay, I called Cingular to see what was up with your bill.  The last payment
was made the end of March.  Your credit card expired March, 2001.  So, you
are not set up currently for your credit card to be charged.  I'm going to go
ahead and expense this charge and then you'll need to pay it.  If you want it
set up again on your credit card, you have to send Cingular a letter stating
your wishes.

I also changed your address to this building while I had her on the phone.

Is all of this ok with you?>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/26/2001
08:12 AM ---------------------------
From: Li Sun@ENRON COMMUNICATIONS on 02/23/2001 09:30 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Enron&China: Is Enron Overpriced? It's in a bunch of complex
businesses. Its financial ...

Hi, Vince,

How are you doing? I called Wed to set up a meeting with you, unfortunately
you were out of town. Since I just got my computer and email account set up
today, it was not that convenient to contact you. Please let me know when you
are available. Please see the following for the interesting article about
Enron, and it is exactly what you have been worried about and now it is
starting to catch Wall Street's attention. So I belive what you have been
promoting to do is very constructive to the company.

In addition, please let me know if you need any help with Tiger Team. I
didn't forget yesterday's conference, but I was so tied up in a meeting and
couldn't leave. The learning curve is quite steep for a freshhand like me at
the very beginning.

You are such a remarkable person, and I feel lucky I got the chance to work
for you. I really appreciate your help and your kindness to me, and I benefit
from it tremendously. Please please let me know if there is anything I could
help.

Best Wishes!

Li

Is Enron Overpriced?
It's in a bunch of complex businesses. Its financial
statements are nearly impenetrable. So why is Enron
trading at such a huge multiple?
Bethany McLean

03/05/2001
Fortune Magazine
122+
(Copyright 2001)

   In Hollywood parlance, the "It Girl" is someone who commands the
spotlight at any given moment--you know, like Jennifer Lopez or Kate
Hudson. Wall Street is a far less glitzy place, but there's still
such a thing as an "It Stock." Right now, that title belongs to
Enron, the Houston energy giant. While tech stocks were bombing at
the box office last year, fans couldn't get enough of Enron, whose
shares returned 89%. By almost every measure, the company turned in a
virtuoso performance: Earnings increased 25%, and revenues more than
doubled, to over $100 billion. Not surprisingly, the critics are
gushing. "Enron has built unique and, in our view, extraordinary
franchises in several business units in very large markets," says
Goldman Sachs analyst David Fleischer.

   Along with "It" status come high multiples and high expectations.
Enron now trades at roughly 55 times trailing earnings. That's more
than 2 1/2 times the multiple of a competitor like Duke Energy, more
than twice that of the S&P 500, and about on a par with new-economy
sex symbol Cisco Systems. Enron has an even higher opinion of itself.
At a late-January meeting with analysts in Houston, the company
declared that it should be valued at $126 a share, more than 50%
above current levels. "Enron has no shame in telling you what it's
worth," says one portfolio manager, who describes such gatherings as
"revival meetings." Indeed, First Call says that 13 of Enron's 18
analysts rate the stock a buy.
   But for all the attention that's lavished on Enron, the company
remains largely impenetrable to outsiders, as even some of its
admirers are quick to admit. Start with a pretty straightforward
question: How exactly does Enron make its money? Details are hard to
come by because Enron keeps many of the specifics confidential for
what it terms "competitive reasons." And the numbers that Enron does
present are often extremely complicated. Even quantitatively minded
Wall Streeters who scrutinize the company for a living think so. "If
you figure it out, let me know," laughs credit analyst Todd Shipman
at S&P. "Do you have a year?" asks Ralph Pellecchia, Fitch's credit
analyst, in response to the same question.

   To skeptics, the lack of clarity raises a red flag about Enron's
pricey stock. Even owners of the stock aren't uniformly sanguine.
"I'm somewhat afraid of it," admits one portfolio manager. And the
inability to get behind the numbers combined with ever higher
expectations for the company may increase the chance of a nasty
surprise. "Enron is an earnings-at-risk story,'' says Chris Wolfe,
the equity market strategist at J.P. Morgan's private bank, who
despite his remark is an Enron fan. "If it doesn't meet earnings,
[the stock] could implode."

   What's clear is that Enron isn't the company it was a decade ago.
In 1990 around 80% of its revenues came from the regulated gas-
pipeline business. But Enron has been steadily selling off its old-
economy iron and steel assets and expanding into new areas. In 2000,
95% of its revenues and more than 80% of its operating profits came
from "wholesale energy operations and services." This business, which
Enron pioneered, is usually described in vague, grandiose terms like
the "financialization of energy"--but also, more simply, as "buying
and selling gas and electricity." In fact, Enron's view is that it
can create a market for just about anything; as if to underscore that
point, the company announced last year that it would begin trading
excess broadband capacity.

   But describing what Enron does isn't easy, because what it does is
mind-numbingly complex. CEO Jeff Skilling calls Enron a "logistics
company" that ties together supply and demand for a given commodity
and figures out the most cost-effective way to transport that
commodity to its destination. Enron also uses derivatives, like
swaps, options, and forwards, to create contracts for third parties
and to hedge its exposure to credit risks and other variables. If you
thought Enron was just an energy company, have a look at its SEC
filings. In its 1999 annual report the company wrote that "the use of
financial instruments by Enron's businesses may expose Enron to
market and credit risks resulting from adverse changes in commodity
and equity prices, interest rates, and foreign exchange rates."

   Analyzing Enron can be deeply frustrating. "It's very difficult
for us on Wall Street with as little information as we have," says
Fleischer, who is a big bull. (The same is true for Enron's
competitors, but "wholesale operations" are usually a smaller part of
their business, and they trade at far lower multiples.) "Enron is a
big black box," gripes another analyst. Without having access to each
and every one of Enron's contracts and its minute-by-minute
activities, there isn't any way to independently answer critical
questions about the company. For instance, many Wall Streeters
believe that the current volatility in gas and power markets is
boosting Enron's profits, but there is no way to know for sure. "The
ability to develop a somewhat predictable model of this business for
the future is mostly an exercise in futility," wrote Bear Stearns
analyst Robert Winters in a recent report.

   To some observers, Enron resembles a Wall Street firm. Indeed,
people commonly refer to the company as "the Goldman Sachs of energy
trading." That's meant as a compliment. But the fact that part of
Goldman's business is inherently risky and impenetrable to outsiders
is precisely the reason that Goldman, despite its powerful franchise,
trades at 17 times trailing earnings--or less than one-third of
Enron's P/E. And as Long Term Capital taught us, the best-laid
hedges, even those designed by geniuses, can go disastrously wrong.
"Trying to get a good grip on Enron's risk profile is challenging,"
says Shipman.

   Nor at the moment is Enron's profitability close to that of
brokerages (which, in fairness, do tend to be more leveraged). While
Wall Street firms routinely earn north of 20% returns on their equity-
-Goldman's ROE last year was 27%--Enron's rate for the 12 months
ended in September (the last period for which balance sheet
information is available) was 13%. Even less appealing is Enron's
return on invested capital (a measure including debt), which is
around 7%. That's about the same rate of return you get on far less
risky U.S. Treasuries.

   Enron vehemently disagrees with any characterization of its
business as black box-like. It also dismisses any comparison to a
securities firm. "We are not a trading company," CFO Andrew Fastow
emphatically declares. In Enron's view, its core business--where the
company says it makes most of its money--is delivering a physical
commodity, something a Goldman Sachs doesn't do. And unlike a trading
firm, which thrives when prices are going wild, Enron says that
volatility has no effect on its profits--other than to increase
customers, who flock to the company in turbulent times. Both
Skilling, who describes Enron's wholesale business as "very simple to
model," and Fastow note that the growth in Enron's profitability
tracks the growth in its volumes almost perfectly. "People who raise
questions are people who have not gone through [our business] in
detail and who want to throw rocks at us," says Skilling. Indeed,
Enron dismisses criticism as ignorance or as sour grapes on the part
of analysts who failed to win its investment-banking business. The
company also blames short-sellers for talking down Enron. As for the
details about how it makes money, Enron says that's proprietary
information, sort of like Coca-Cola's secret formula. Fastow, who
points out that Enron has 1,217 trading "books" for different
commodities, says, "We don't want anyone to know what's on those
books. We don't want to tell anyone where we're making money."

   In addition to its commodities business, Enron has another
division called Assets and Investments that is every bit as
mysterious. This business involves building power plants around the
world, operating them, selling off pieces of them, "invest[ing] in
debt and equity securities of energy and communications-related
business," as Enron's filings note, and other things.

   Actually, analysts don't seem to have a clue what's in Assets and
Investments or, more to the point, what sort of earnings it will
generate. Enron's results from that part of its business tend to be
quite volatile--profits fell from $325 million in the second quarter
of 1999 to $55 million in the second quarter of 2000. In written
reports, Morgan Stanley chalked up the decline to the poor
performance of Enron's "significant number of investments" in telecom
stocks; Dain Rauscher Wessels blamed it on a lack of asset sales.

   In any event, some analysts seem to like the fact that Enron has
some discretion over the results it reports in this area. In a
footnote to its 1999 financials, Enron notes that it booked "pretax
gains from sales of merchant assets and investments totaling $756
million, $628 million, and $136 million" in 1999, 1998, and 1997.
"This is an enormous earnings vehicle, which can often be called upon
when and if market conditions require," notes UBS Warburg analyst Ron
Barone. Not everyone is so chipper. "We are concerned they are
liquidating their asset base and booking it as recurring revenue,
especially in Latin America," says analyst Andre Meade at Commerzbank-
-who has a hold rating on the stock. At the least, these sorts of
hard-to-predict earnings are usually assigned a lower multiple.

   There are other concerns: Despite the fact that Enron has been
talking about reducing its debt, in the first nine months of 2000 its
debt went up substantially. During this period, Enron issued a net
$3.9 billion in debt, bringing its total debt up to a net $13 billion
at the end of September and its debt-to-capital ratio up to 50%, vs.
39% at the end of 1999. Nor does Enron make life easy for those who
measure the health of a business by its cash flow from operations. In
1999 its cash flow from operations fell from $1.6 billion the
previous year to $1.2 billion. In the first nine months of 2000, the
company generated just $100 million in cash. (In fact, cash flow
would have been negative if not for the $410 million in tax breaks it
received from employees' exercising their options.)

   But Enron says that extrapolating from its financial statements is
misleading. The fact that Enron's cash flow this year was meager, at
least when compared with earnings, was partly a result of its
wholesale business. Accounting standards mandate that its assets and
liabilities from its wholesale business be "marked to market"--
valued at their market price at a given moment in time. Changes in
the valuation are reported in earnings. But these earnings aren't
necessarily cash at the instant they are recorded. Skilling says that
Enron can convert these contracts to cash anytime it chooses by
"securitizing" them, or selling them off to a financial institution.
Enron then receives a "servicing fee," but Skilling says that all the
risks (for example, changes in the value of the assets and
liabilities) are then transferred to the buyer. That's why, he says,
Enron's cash flow will be up dramatically, while debt will be "way
down, way down" when the company publishes its full year-end results,
which are due out soon.

   That's good, because Enron will need plenty of cash to fund its
new, high-cost initiatives: namely, the high-cost buildout of its
broadband operations. In order to facilitate its plan to trade excess
bandwidth capacity, Enron is constructing its own network. This
requires big capital expenditures. So broadband had better be a good
business. Both Enron and some of the analysts who cover it think it
already is. Included in the $126 a share that Enron says it's worth
is $40 a share--or $35 billion--for broadband. Several of Enron's
analysts value broadband at $25 a share, or roughly $22 billion (and
congratulate themselves for being conservative). But $22 billion
seems like a high valuation for a business that reported $408 million
of revenues and $60 million of losses in 2000. Not all analysts are
so aggressive. "Valuing the broadband business is an "extremely
difficult, uncertain exercise at this point in time," notes Bear
Stearns' Winters, who thinks that broadband, while promising, is
worth some $5 a share today.

   Of course everything could go swimmingly. Enron has told analysts
that it plans to sell between $2 billion and $4 billion of assets
over the next 12 months. The bullish scenario for Enron is that the
proceeds from those sales will reduce debt, and as earnings from new
businesses kick in, the company's return on invested capital will
shoot upward. Along with broadband, Enron has ambitious plans to
create big businesses trading a huge number of other commodities,
from pulp and paper to data storage to advertising time and space.
Perhaps most promising is its Enron Energy Services business, which
manages all the energy needs of big commercial and industrial
companies. Skilling has told analysts that its new businesses will
generate a return on invested capital of about 25% over the long run.

   But all of these expectations are based on what Wolfe, the  J.P.
Morgan strategist, calls "a little bit of the China syndrome"--in
other words, if you get x% of y enormous market, you'll get z in
revenues. For instance, Enron says the global market for broadband
and storage services will expand from $155 billion in 2001 to
somewhere around $383 billion in 2004. "Even a modest market share
and thin margins provide excellent potential here," writes Ed
Tirello, a Deutsche Bank Alex. Brown senior power strategist. The
problem, as we know from innumerable failed dot-coms, is that the y
enormous market doesn't always materialize on schedule. And Enron
isn't leaving itself a lot of room for the normal wobbles and
glitches that happen in any developing business.

   In the end, it boils down to a question of faith. "Enron is no
black box," says Goldman's Fleischer. "That's like calling Michael
Jordan a black box just because you don't know what he's going to
score every quarter." Then again, Jordan never had to promise to hit
a certain number of shots in order to please investors.

   FEEDBACK: bmclean@fortunemail.com

COLOR PHOTO: PHOTOGRAPH BY PAUL HOWELL/LIAISON
SOME PEOPLE liken Enron, with its massive trading operation, to a
Wall Street securities firm.
COLOR PHOTO: AFP
ENRON still has plenty of old-economy iron and steel assets like
this one, but it has been selling them off at a steady clip.
COLOR CHART: FORTUNE CHART
Enron's stock is soaring
Enron
S&P 500
COLOR PHOTO: PAM FRANCIS/LIAISON
JEFF SKILLING, a former consultant, has taken over the reins from
chief executive officer Kenneth Lay.

Folder Name: Enron&China
Relevance Score on Scale of 100: 80

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or
contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com
or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511
or contact your local sales representative.)
______________________________________________________________________

Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved


only if the ethnic ho's are in attendance.

----- Original Message -----
From: Parks, Joe
Sent: Thursday, May 23, 2002 3:49 PM
To: Brian Constantine (E-mail); Chad Knipe (E-mail 2); Erik Wollam (E-mail); Chet Fenner (E-mail)
Subject: Sunday

Is anyone coming over Sunday or will the family and I be eating alone?

************************************************************************
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I have a new toy!


Contents:

1) Note from Don Evans   www.bushcheneytransition.com
2) Comments from US Supreme Court Justice Scalia
3) Comments from Florida Supreme Court Chief Justice Charles T. Wells

______________________________________________

Greetings Friends,

The election results in Florida have been certified in accordance with
Florida state law and the rulings of the Florida Supreme Court, and Governor
Bush and Secretary Cheney have won that state's 25 electoral votes.  It is
now time to get on with the business of organizing a new administration.

In order to begin that task, we have filed articles of incorporation for the
Bush/Cheney Presidential Transition Foundation, a non-profit corporation.  As
past transition foundations have done, we are applying for 501(c)(4) status
from the Internal Revenue Service.  Now we are asking for your help as our
team moves forward with plans for an orderly transition process in the short
period between now and inauguration day, January 20, 2001.

While the Presidential Transition Act of 1963, as amended in 1988,
specifically authorizes public funds for transitions, it also makes
provisions for raising contributions from private sources to help defray
transition-related expenses.  This has been done previously, most recently in
1992.  We are now soliciting contributions from our most active supporters.
Would you please visit our new transition website at
www.bushcheneytransition.com and make a contribution on our secure server.

We have made the decision to accept contributions only from individuals.  No
corporate or political action committee contributions will be accepted.
Contributions may not exceed $5,000 per person or $10,000 per couple, and all
contributors, in compliance with Governor Bush's position of full-disclosure
of financial contributions, will be posted on the transition website on a
real-time basis.  These contributions will not count against an individual's
annual political contribution federal giving limit of $25,000.

The American voters have spoken, and we are moving forward to establish a
government that will unify our country and make the common principles we
share as Americans our first priority.

If you have questions, please contact the Transition Foundation's finance
office at 512-344-3722.  All other transition inquiries should be directed to
our office in McLean, VA at (703) 918-2900. Your support of the Bush/Cheney
Presidential Transition Foundation is deeply appreciated.

Sincerely,

Donald L. Evans
Board of Directors
www.bushcheneytransition.com
Bush/Cheney Presidential Transition Foundation, Inc.
Paid for by Bush/Cheney Presidential Transition Foundation, Inc.

______________________________________________

2)

Comments from US Supreme Court Justice Scalia

"One of the principal issues in the appeal we have accepted is precisely
whether the votes that have been ordered to be counted are, under a
reasonable interpretation of Florida law, 'legally cast vote[s].'  The
counting of votes that are of questionable legality does in my view threaten
irreparable harm to petitioner, and to the country, by casting a cloud upon
what he claims to be the legitimacy of his election.  Count first, and rule
upon legality afterwards, is not a recipe for producing election results that
have the public acceptance democratic stability requires."

"Another issue in this case, moreover, is the propriety, indeed the
constitutionality, of letting the standard for determination of voters'
intent- dimpled chad, hanging chads, etc.- vary from county to county, as the
Florida Supreme court opinion, as interpreted by the Circuit Court, permits.
If petitioner [Bush] is correct that counting in this fashion is unlawful,
permitting the count to proceed on that erroneous basis will prevent an
accurate recount from being conducted on a proper basis later, since it is
generally agreed that each manual recount produces a degradation of the
ballots, which renders a subsequent recount inaccurate."

Click here to review the Order of the US Supreme Court in Bush v. Gore,
Saturday, 12-9-2000
http://mail.echampions2000.com/GoNow/a14064a27877a56615396a2

______________________________________________

3)

Comments from Florida Supreme Court Chief Justice Charles T. Wells

DISSENT OF CHIEF JUSTICE CHARLES J. WELLS
"I...believe that the majority's decision cannot withstand scrutiny which
will certainly immediately follow under the United States Constitution."
Excerpt:
"I want to make it clear at the outset of my separate opinion that I do not
question the good faith or honorable intentions of my colleagues in the
majority. However, I could not more strongly disagree with their decision to
reverse the trial court and prolong this judicial process. I also believe
that the majority's decision cannot withstand the scrutiny which will
certainly immediately follow under the United States Constitution."

"My succinct conclusion is that the majority's decision...has no foundation
in the law of Florida as it existed on November 7, 2000, or at anytime until
the issuance of this opinion. The majority returns the case to the circuit
court for this partial recount of  under-votes on the basis of unknown or, at
best, ambiguous standards with authority to obtain help from others, the
credentials, qualifications, and objectivity of whom are totally unknown.
That is but a first glance at the imponderable problems that the majority
creates."

"This case has reached the point where finality must take precedence over
continued judicial process. I agree with a quote from John Allen Paulos, a
professor of mathematics at Temple University, when he wrote that, "[t]he
margin of error in this election is far greater than the margin of victory,
no matter who wins." Further judicial process will not change this
self-evident fact and will only result in confusion and disorder. Justice
Terrell and this Court wisely counseled against such a course of action
sixty-four years ago. I would heed that sound advice and affirm Judge Sauls."

Click here to review the Florida Supreme Court Opinion in Gore v. Harris,
Friday, December 8, 2000
http://mail.echampions2000.com/GoNow/a14064a27877a56615396a0

______________________________________________

If you wish to unsubscribe from the eChampion mailing list, follow this link:

http://mail.echampions2000.com/GoNow/a14064a27877a56615396a1

To become an eChampion follow this link:

http://mail.echampions2000.com/GoNow/a14064a27877a56615396a3

Paid for by Bush-Cheney Presidential Transition Foundation, Inc.


Here is a presentation that I need by 11:00am Thursday.  The presentation is
almost complete,  but if you can clean it up that would be great.   I will
need 8 coler copies and bound. Please give me a call before you have someone
run the copies, because we may have some early morning changes. Thanks
Ben


sounds good.


I talked with Steve about this bullet.  Let's insert the phrase "...due to capitalizing on market volatility."


Got her voice mail.  If I do not here from either person by end of day, I
will let you know.


Steve Kean asked that I send you the attached document.


FYI.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/25/2001 03:33 PM -----

	Tom Riley/Western Region/The Bentley Company@Exchange
	Sent by: Michele Curtis/Western Region/The Bentley Company@Exchange
	02/23/2001 08:12 PM

		 To: Marty Sunde/HOU/EES@EES, Dan Leff/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Mike D Smith/HOU/EES@EES, Scott Gahn/HOU/EES@EES, Dennis
Benevides/HOU/EES@EES, Eric Melvin/HOU/EES@EES, Maureen Palmer/HOU/EES@EES,
Wanda Curry/HOU/EES@EES, wanda.curry/HOU/EES@EES, Evan Hughes/HOU/EES@EES,
msmith7043@houton.rr.com@SMTP@Exchange, Jeff Dasovich/NA/Enron@Enron, Tom
Riley/Western Region/The Bentley Company@Exchange
		 cc:
		 Subject: UC/CSU

Attorney/Client Privileged Information

Summary of our follow-on discussion with UC/CSU Friday afternoon (Tom/Dennis
from Enron):
1.  UC/CSU's goal is to reach agreement on the interim solution by the end of
next week (Friday, 3/2)
2.  UC/CSU would like draft language memorializing the structure contemplated
below by COB Monday, 2/26, and asked what our proposed form of agreement
would be (letter agreement, amendment).  Their preference is the first and
expressed concern that if the draft had too many legal terms and/or was too
one-sided, that it would be unrealistic to expect approval by Friday.  I have
since spoken to Mike and I will propose to UC/CSU that we get them a term
sheet on Monday for discussion, with the intent of wrapping the terms into a
letter agreement of a couple pages.
3.  UC/CSU is considering underwriting the risk they would be absorbing
through the interim agreement.
4.  It is both our expectations that during the interim period we would gain
some clarity on the legislative/regulatory landscape such that we could begin
working on a long-term solution.
5.  If we don't reach a long-term solution, we would flip back to the terms
of the existing contract, and are back to the existing issues.
6.  We reinforced the highly confidential nature of these discussions.
Commercial terms
? Intent is to offer an intermediate solution to mediate UC/CSU's concern of
potential long-term consequences (loss of direct access rights preventing
them from gaining financial benefits) due to status as a bundled utility
customer.  Want time for landscape to solidify so we can agree on a long term
solution that would retain them as a direct access customer or a synthetic
version of that (i.e., they still receive the benefits).
? Enron would re-DASR accounts, assuming the following:
? UC/CSU assume liabilities from February 1, 2001 through end of term of
interim agreement, resulting from that action.
? Term to be 90 days, with the option to extend upon the mutual agreement of
both parties.
? Calculation methodology of the liability:  Spot market price minus the
prevailing bundled utility rate plus load shaping costs (Dennis - please
provide the methodology.  Also, what about A/R risk, treatment of
surcharges?).
? Exposure is calculated ex-post (i.e., we will not agree to an amount,
capped or fixed, at the outset).  They want an estimation of the potential
exposure, so we need to make sure we have proper protection that does not
bind us to that estimation. (Alternatively, we can provide them this
estimation outside the agreement, with the same caveats).
? Agree during interim period to work together (good faith effort) to
mitigate the exposure of the liability.
? UC/CSU assumes risk that should we be barred from re-de-DASRing at the end
of the term (due to legislative, regulatory or other actions or
circumstances), UC/CSU would assume this exposure as well.  They countered
with a suggestion for our consideration that such an occurrence be treated as
a force majure event with the affect of terminating the contract.  (This
seems counter-intuitive to me to their desire to remain a direct access
customer - see concern below).
? This was not discussed, but term should include a provision for
confidentiality.
Concern:
It is somewhat disconcerting they have asked for and are considering this
proposal.  They are absorbing our risk, which we shared to be a very large
number ($100M+ over the remaining contract term).  They also did not want to
discuss their regulatory concerns, and enter into a discussion with Dasovich
regarding these.  These points lead me to believe that perhaps they know
something we don't.  Just a consideration for our call Saturday.
Tom

From: Tom Riley/Western Region/The Bentley Company@Exchange@Exchange on
02/23/2001 03:56 PM
To: Marty Sunde/HOU/EES@EES, Dan Leff/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Mike D Smith/HOU/EES@EES, Scott Gahn/HOU/EES@EES, Eric Melvin/HOU/EES@EES,
Maureen Palmer/HOU/EES@EES, Wanda Curry/HOU/EES@EES, Evan Hughes/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES
cc: Don Black/HOU/EES@EES, Neil Bresnan/HOU/EES@EES
Subject:

We had a cordial and outside the box discussion with UC/CSU today.

On the call, UC/CSU expressed a concern that in light of the uncertain and
rapidly evolving regulatory and legislative landscape, they do not feel it to
be prudent for them to consider our long-term proposed solutions.  They were
intrigued by our offers and we will take them up at a later date.  In the
meantime, they are proposing we price a short term deal.  This will buy them
re-DASR status until the end of the current uncertain situation.

Proposed Structure:

Enron to temporarily Re-DASR UC/CSU accounts.  UC/CSU liable for any
additional costs incurred by Enron as a result of that action.  Such costs
may include, but not be limited to the following: account receivable risks,
difference between spot market price and utility bundled rate, exposure to
changes in calculation of PX credit applicable to direct access providers (as
compared to spot market purchase price), load shaping costs to follow
customer hourly load without availability of the PX.

Assumptions:

? Enron has sole option to return accounts to De-DASR status at end of term.
? UC/CSU assumes risk should this action be blocked by law, regulation, or
3rd party action.
? Enron retains right in contract to choose source of electricity supply for
duration of existing contract term.
? Enron will work with UC/CSU to mitigate liability exposure (i.e., consider
entering into purchase agreement with utilities, etc.).

Potential liability during term (notional):  $_____ (60 day term);   $____(90
day term)

Potential liability at end of term if Enron is unable to return accounts to
utility supply status at end of term due to potential legislative,
regulatory, or other action or circumstance (notional):   $_____ (assuming 60
day term);   $____(assuming 90 day term)

It is envisioned that during this short term period that the regulatory and
legislative landscape will become clearer, allowing both parties to better
understand their exposure through the term of the contract and beyond.  Once
this clarity is achieved, it is agreed both parties will meet to discuss long
term solutions meeting the needs of both parties.

Please comment with concerns, ideas immediately as we will be back on the
phone with them shortly.

Thank you.

Tom


I have attached a copy of my CV as a PostScript file.
If you need further info, or a different format, please
let me know.

Enjoy!

Keith Baggerly
Asst Professor, Statistics
Rice University
(713) 348-5282
kabagg@stat.rice.edu

 - 00apr.ps


1.  I didn't know much about ag products but Ted Murphy is trying to include
me in the loop.

2. Chris Calger says that he has aggregated his CPI positions for the west.
Can check if Dave Duran has done this for the east and try to aggregate the
position.  If you need help let me know.

John


I understand that some of you may not have received the attachment to Bob's
email.  I have attached it here for your review.

Please let me know if you have any questions.  I can be reached at
212-332-1203.

Thanks,

Kimberly Summe

 <<Convertible Bonds.doc>>


Everyone,

As we stated earlier, this particular virus that is on the internet is causing a lot of issues for Corporations.  As a result, the companies who write anti-virus software are continuously updating their software.  As of this morning, another update has been made available to us.  This update does a better job of protecting your PC than the update we received last night.

At this time, it is extremely important that you again go through one of the procedures listed below to get the latest update.

1.  Logout of the network and log back in or

2.  Click on START>PROGRAMS>ACCESSORIES>Norton AntiVirus Corporate Edition and then click the Live Update button.  This will pop up a screen where you will have to click the "Next" button and then a "Finish" button.  - If you are an EES user, this option is not available to you.  Please use option 1.

The proper version of the update pattern you need is:   (9/18/2001, version 30918BL) - You may need to restart the Norton Anti-Virus client if you want to visually insure that you have the latest update.

If you have questions or concerns, please direct them to your Resolution Center.

Enron Global Technology


Attached please find the Natural Gas market  analysis for today.

Thanks,

Bob McKinney
 - 12-26-01 Nat Gas.doc


Ken, fyi

Regards
Dave
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/19/2001
10:45 AM ---------------------------

Christopher F Calger
02/17/2001 07:21 PM
To: Christian Yoder/HOU/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Tracy
Ngo/PDX/ECT@ECT, Bob Badeer
cc: David W Delainey/HOU/ECT@ECT
Subject: CDWR Short-Term Firm Energy Proposal

Attached please find a draft letter to David Freeman.  Please review and
provide any comments.  Jeff, do you have the adress and fax number for the LA
Office?
Tracy, Bob and Christian  -  do you approve?  I intend to send this out
Monday.

Regards,

Chris


Our convention is whoever finalizes the model should write the
documentation.  It does not make sense
to write one when changes are anticipated.  You have been working on this
almost a year, it never
strikes you that we need a documentation ?

I created Exotica.xll, does that also give you an excuse not working on
Exotica documentation ?

Zimin

Paulo Issler
05/02/2001 11:52 AM
To: Zimin Lu/HOU/ECT@ECT
cc: Tai Woo/ENRON@enronXgate @ ENRON, Pavel Zadorozhny/Enron@EnronXGate
Subject: Re: Asian Option for Pavel

I am surprised that we do not have the documentation ready.
I can make that for you. It is not there because you did not put that
together by the time it was created and all the changes I have made did not
required changes on the functionality.
Paulo Issler

Zimin Lu
05/02/2001 11:29 AM
To: Tai Woo/ENRON@enronXgate @ ENRON, Paulo Issler/HOU/ECT@ECT
cc: Pavel Zadorozhny/Enron@EnronXGate
Subject: Re: Asian Option for Pavel

Tai Woo,

Here are the c-codes for the CrudeAPO.  'Sig' is the spot
volatility meaning the price volatility within the delivery period.
You should consult  with Pavel for the definition of this "extra"
parameters.   We
would like to see the Position Monitor once you get it running.
We might have some additional suggestions.

Paulo,

Why don't we have a documentation on CrudeAPO you worked on ?
I can not find it in Exotica help file.   Please supply that to Tai, thanks.

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

From: Tai Woo/ENRON@enronXgate on 05/02/2001 09:55 AM
To: Paulo Issler/HOU/ECT@ECT
cc: Kara Maloney/ENRON@enronXgate, Zimin Lu/HOU/ECT@ECT
Subject: Asian Option for Pavel

This morning, Zimin told me that Pavel is using a special model in evaluating
his Asian option portfolio.
He asked me to talk to you in order to access to the code so that I can see
the difference made to the model.

As I cannot find the doc. describing this model, please tell me what that new
input parameter 'Sig' is.

Thanks,


You are invited to attend the UTBN Holiday Reception, Wednesday November 28 , 2001

6:00 - 8:00 PM
Come hear Terry Wilson, Associate and Vice President for Community
and School Relations at the University of Texas
Location:  Houston Junior League, 1811 Briar Oaks Lane, Houston, Texas
$20 admission
Make your check payable to The Houston Texas Exes
Attn: Suzanne Tamas, P.O. Box 271648, Houston, Texas 77277-1648
 Please join your fellow Texas Exes for a great networking opportunity. We are building a super UT business community and driving business to fellow Exes.
 To view more upcoming events, sign up for membership or learn more about the UTBN, Houston Longhorn Club, or Houston Texas Exes , please visit the links below. HOUSTON TEXAS EXES WEBSITE <http://www.houston.texasexes.org/ > THE HOUSTON LONGHORN CLUB <http://www.houston.texasexes.org/Longhorn_Club.htm >

- This message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law. - If you are not the intended recipient, you should delete this message and are hereby notified that any disclosure, copying, or distribution of this message, or the taking of any action based on it, is strictly prohibited.


Entertaining article from the source...

http://www.southbendtribune.com/stories/2001/01/03/sports.20010103-sbt-MARS-
B1-As_Fiasco_Bowl_prove.sto
Marc
*(303)401-7054
*mleslie@amgen.com


I'd stick with Anthony.  I didn't think that Prudential was one of our
clearing brokers (remember, the letter must come from our clearing broker).
Please keep Mike Fowler and Paul Radous informed.  Thanks.  Sara

	Samantha Boyd@ENRON
	10/05/2000 09:32 AM

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

Sara,

I have Kevin Enright at Prudential Securities, Incorporated and Anthony
Capolongo at Morgan Stanley researching the "Prime Broker Letter".

Samantha M. Boyd
Sr. Legal Specialist
Enron North America, Corp.
1400 Smith, EB3802A
Houston, TX  77002
Phone:  (713) 853-9188
Fax:  (713) 646-3490
email:  samantha.boyd@enron.com

	Sara Shackleton@ECT
	10/03/2000 06:53 PM

		 To: Samantha Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron
		 cc:
		 Subject:

Paul Radous has requested that we seek a "Prime Broker letter" to send to the
CP.

Click on this link to view the document in the Financial Trading Agreements
database-->


TO: ENA Vision and Values Committee

Brian Redmond asked that this summary be forwarded to all team members.  I
apologize if you are no longer a member of the ENA Vision and Values Team.
Having just replaced Elisabeth McCabe as head of Public Relations, I am using
the most recent list of team members I can find.

Please contact me, if you are no longer a member of the ENA Vision and Values
Team.  Thanks.

Below summarizes the key points of our May 17 meeting:
>
>Executive Committe Presentation
>    Overall, the initiatives identified in the presentation were
>    well-received by the Executive Committee.
>    Thanks to all of the presenters for delivering a clear and concise
>    message.
>    The final presentation is attached.
>
>P&D
>    Two pilots are planned between now and the end of May.
>    GPG has additional ideas for pilots.
>    The Ad Agency has submitted a marketing and communication plan.  Review
>    of the proposal is underway.
>
>Communication Training
>    The goal of this initiative is to increase the enrollment of
>    participants in the course, Impact and Influence.  Sessions were
>    recently completed in London and Houston.
>    Currently, we are using data received in the Impact and Influence
>    training to develop program design for follow-up training.
>    We have received a proposal from Cognitive Arts for on-line
>    communications training.
>    Once this training rolls out, we'll need all V&V reps and business unit
>    heads to encourage participation of employees to complete the training.
>
>Communication Tools
>    Phase I of the One Enron directory is on target for July 2000.  The
>    basics, name, phone number, functional org chart, title, etc,. are
>    expected to be included in Phase I.
>    Since it is the responsibility of the individual to update the
>    directory, please encourage your business unit employees to populate
>    GIS.  GIS can be accessed from the Enron intranet home page.
>    Currently, the e-mail policy is under review.
>    The second half of 2000 will be spent on raising the level of awareness
>    on the proper use of technology tools.
>    The Technology Showcase is scheduled for Friday, May 19, in the Enron
>    lobby.
>
>Internal Communication Campaign
>    Posters are now in the Houston Enron building and Three Allen Center.
>    We are in process of translating the posters in Spanish and Portuguese.
>    Offices around the world should receive posters over the next 30 days.
>    Interesting facts about Enron will be on practical products throughout
>    the summer.
>    Post-it notes with quotes about Communication will be distributed to
>all
>    employees worldwide in about 2 weeks.
>    Additional post-it notes will be available on the office supply order
>    form.
>
>Excellence Through Communication
>    Please continue to work with your business units to identify action
>    plans to respond to feedback in ETC.
>    Please include employee communication as part of your plan.  We want to
>    be sure that our efforts are tied back to the employee feedback
>received
>    on ETC.
>
>Diversity
>    Dick Leibert asked each business unit representative to identify 10
>    employees to participate in Diversity Focus Groups.  An e-mail
>    explaining the effort and the process will be coming from Dick shortly.
>
>Best Companies Survey
>    The survey from Fortune is coming sometime this summer.
>    Please encourage comments about worklife experiences be shared in the
>    survey.
>    There was a suggestion in the meeting to market our ranking on the list
>    similar to Continental Airlines.  Discussion continues on this idea.
>
>Other
>    We are in the process of pulling together Ken Lay's nomination for
>    Executive Communicator of the Year.


-----Original Message-----
From: 	Nemec, Gerald
Sent:	Wednesday, October 17, 2001 2:11 PM
To:	Lucci, Paul T.
Cc:	Tycholiz, Barry; Williams, Jason R (Credit)
Subject:	Kennedy Amendment

Here is the latest.


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

 - 10-17 0700 Report.xls


Dear Jason Wolfe,

This letter is to inform you of some NETeller updates:

Secure ID Added

As an added feature and to ensure your security, the design team at
NETeller.com has instituted the NETeller Secure ID feature into its signup
process.  The Secure ID will provide an additional layer of security to all
NETeller.com members and will ensure that no one other than the authorized
account holders can have access to their NETeller.com accounts.

How it works

All NETeller.com account holders will be emailed a 5 or 6 digit Secure ID.
This Secure ID will be unique to each individual NETeller.com account holder.

Your new Secure ID is: 885892

The Secure ID will be changed and updated approximately every 4 months and
this change will be emailed to all account holders at that time.

Upon successfully entering the users Account ID and Password, each user will
be prompted for their Secure ID code.  By entering the Secure ID, users will
gain access to their account page.  If you forget or lose your Secure ID code
you may contact our customer service department at 888 258 5859 to retrieve
it.

NOTE REGARDING PASSWORDS

You will NEVER be asked to reveal your NETeller.com password by a
NETeller.com representitive.
You should NEVER give your password out to any unauthorized user.
Passwords should be changed regularly and often.

Thank you

The NETeller.com Development Team


-----Original Message-----
From: 	Kang, Daniel
Sent:	Friday, May 04, 2001 1:18 PM
To:	CA Scheduling@ENRON
Subject:	***EES CA SCHEDULE FOR 05/08/01***


Thank you Frank.  That means alot.

 -----Original Message-----
From: 	Acuff, Frank
Sent:	Monday, November 26, 2001 2:06 PM
To:	Horton, Stanley
Subject:	Re: Thanksgiving Holiday

Stan,

Thanks for thinking of us during these trying times.  In light of the Enron issues I realize how hard it must have been for you to enjoy your time with your family for thanksgiving. To let you and those that must manage these hard times know,  you all are in my thoughts and prayers, and I wish you well.

Sincerely,
Frank Acuff


This will confirm the conference call scheduled for today (April 19) at 6:00
p.m. CDT to discuss the UC/CSU Reply Brief.  The call-in numbers are:

Domestic:  800-991-9019
International:  847-619-8039
Pass Code:  6589188
Confirmation No.:  3927477

Thank you.


----- Forwarded by Elizabeth Sager/HOU/ECT on 11/29/2000 01:44 PM -----

	Christian Yoder
	11/29/2000 11:40 AM

		 To: Elizabeth Sager/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

Ouch!
---------------------- Forwarded by Christian Yoder/HOU/ECT on 11/29/2000
09:26 AM ---------------------------

Mary Hain
11/29/2000 09:23 AM
To: Christian Yoder/HOU/ECT@ECT, steve.c.hall@enron.com
cc:
Subject: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

---------------------- Forwarded by Mary Hain/HOU/ECT on 11/29/2000 09:31 AM
---------------------------
From: Jeff Dasovich@ENRON on 11/29/2000 11:06 AM CST
Sent by: Jeff Dasovich@ENRON
To: Sandra McCubbin/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Susan J
Mara/NA/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON,
Sarah Novosel/Corp/Enron@ENRON, Alan Comnes/PDX/ECT@ECT, Roger
Yang/SFO/EES@EES, Tim Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT,
Christopher F Calger/PDX/ECT@ECT, David Parquet/SF/ECT@ECT, Dennis
Benevides/HOU/EES@EES
cc:
Subject: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

----- Forwarded by Jeff Dasovich/NA/Enron on 11/29/2000 11:03 AM -----

	Ann M Schmidt
	11/29/2000 10:59 AM

		 To: Richard B Sanders/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Cedric
Burgher/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON, Vance Meyer/NA/Enron@ENRON, Steven J
Kean/NA/Enron@Enron
		 cc:
		 Subject: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

11/29/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

LOS ANGELES -(Dow Jones)- A second lawsuit is being filed in San Diego
Superior Court Wednesday against Enron alleging the company, and others,
overcharged California consumers more than $4 billion for electricity
service.
On Monday, a similar suit was filed against Dynegy Inc. (DYN), Reliant Energy
Inc. (REI), Duke Energy North America (DUK), Southern Energy Company (SO),
AES Corp., Williams Energy and NRG Energy. Both lawsuits are seeking class
action status and may be consolidated into one complaint.
The complaints allege unfair trade practices and illegal trust activity. A
news conference announcing the details of the lawsuit will be held Wednesday
morning in San Diego.
Enron does not own or operate major generating units in the state, but is
active in trading electricity here and securing long-term fixed rate
contracts for large industrial customers. At times, Enron sells power back
into the California Power Exchange, the market where power is bought and sold
in the state.
An Enron representative said he has not yet seen the lawsuit and was unable
to comment.
The lawsuits claim Enron and the other energy companies withheld power supply
last summer, created shortages by selling power out of state and used
real-time confidential data about power plant activity to drive up prices.
The lawsuits are an attempt to force generators to refund about $4 billion
for electricity, the amount consumers were allegedly overcharged. -By Jason
Leopold; Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

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


Thanks for the updates.  When we had the problem with the server resynchronization, did someone from the Infrastructure team alert you ahead of time that they were going to do this during normal business hours, or did you have to be the detective to determine the cause once the problem was at hand.  Let me know. Thanks. --Sally
-----Original Message-----
From: Warner , John
Sent: Friday, September 28, 2001 6:01 PM
To: Rao, Ramesh; Beck, Sally; Piper, Greg; Perlman, Beth; Pena, Matt; Hall, Bob M; Superty, Robert; Pickering, Mark
Subject: Unify Operational Status

Here is a summary of Unify operations for today.  My plan was to provide these reports to this audience through the end of this week, and then pick up again during next bid week.  I'll be glad to continue this type of reporting moving forward, please let me know if you are interested.  Alternatively, I could move to a weekly reporting of issues, and/or change the audience of this report.  Your feedback on the matter is appreciated.

Summary of 9/28:
Heavy activity in the Gas system, especially in the afternoon.  System performance dropped during the afternoon, but no downtime was experienced.
At just after 3:00 pm, a network server experienced problems and as a result one of our EDI servers was unable to accept new files.  No EDI files could be sent to our hub as a result.  As it turns out, the Infrastructure team was in the process of performing a critical re-synchronization on that server, and the server was unable to write new data to disk for over an hour (during re-synchronization this window is typically just a few minutes).  Infrastructure typically conducts resynchronizations after-hours, but resynchronization had failed on this box on several prior attempts, so the issue had become critical.  At 4:26 pm, the re-synchronization completed and all EDI files in the queue were processed normally, and our 5:00 pm intraday nom deadline was met.
Action Items:
The network servers referenced are to be decommissioned on October 5th, and will be replaced with newer more reliable servers.  This is part of a planned project within the Infrastructure team.
I have discussed the issue with the Infrastructure team and communicated our various intra-day processing deadlines.  They have committed to notifying the Unify team in the event future emergency-type maintenance is required during business hours.
On the Power side, we have caught up on all of our processing that was delayed as a result of yesterday's outage.


Harry, Marty Sunde, Jeff Dasovich and I were on a trip with Ken Lay last
week.  I understood from Marty that Ken may believe that all customers,
including direct access, should pay the increase you mention.  Marty?  This
was encouraging from a litigation exposure standpoint because, to the extent
all consumers are treated alike, our DA customers who were resourced to
utility service cannot claim to have been disadvantaged by our action.  The
converse is also true:  if they have to pay because they were put back on
utility service they may try to pass that cost through to us.  To the extent
that any increase is to pay back DWR for buying power 2/1/01-3/31/02, and
those on DA are not required to pay this, EES could have a substantial
exposure to its customers.   Maybe we need to modify our strategy to take
this into account.
 -----Original Message-----
From:  Kingerski, Harry
Sent: Thursday, May 24, 2001 8:48 AM
To: Sunde, Marty; Benevides, Dennis; Dotson, Marcus; Williams, Robert C.;
Frazier, Lamar; Stoness, Scott; Johnson, Tamara
Cc: Lawner, Leslie; Steffes, James; Neustaedter, Robert; Mara, Susan;
Dasovich, Jeff
Subject: San Diego Update

SDGE's Advice Letter filing confirms that the ABX143 rate freeze of 6.5 cents
does not apply to direct access.

In hearings on SDGE's potential rate increase for large customers:
SDGE has proposed to allocate all retained generation to small customers
(below 100 kw).  Large customers would be served  by DWR (or be direct
access).  It's apparent several parties have major problems with this.
It is interesting that SDGE has calculated the expected rate increase under
their plan as 2.86 cents.  If large customers are allocated a piece of
retained generation, the increase goes up to 2.99 cents.  In the latter case,
large customers retain a CTC (related to QF contracts and other long term
stranded costs) that they would lose in the former case.
Our involvement is to get an order 1) excluding DA from any rate increase
(the proposed 2.86 cents) 2) excluding DA from any surcharge related to
undercollection from the rate freeze (an amount that is not known at this
point) 3) prorating the surcharge related to undercollection if the customer
switches from DA to bundled service during the rate freeze period 4) ensuring
there is a return to market pricing once the rate freeze is over.

PUC decisions on these issues are expected June 28.  There is no discussion
of restricting movement between bundled service and DA.  On our issues noted
above,  #1, 2, 4 have high probability of success; # 3 is 50/50.


oui.  don't tell anybody about it, big boy.

	Daniel Diamond
	02/06/2001 04:53 PM

		 To: Jeffrey A Shankman/HOU/ECT@ECT
		 cc:
		 Subject:

Is this where you stay in Paris?
http://www.parishotels.com/html/viewhotel.cgi?hotel=6.1&pays=gb

-Dan


The tagg team has made some changes to the bridge.  Please review the following deals in tagg stage and let me know if they meet to your approval.

US Gas Daily Swaps
BOM	 - gas daily - MichCon GD/D   	QV0353
May 01	- gas daily - HeHub GD/D	QV0345
Jun 01  -  gas daily -  HeHub GD/D	QV0352

Canadian Gas Daily Swap
May 01  - gas daily - EOL Aeco Daily	QV0344

Nymex Swap
Oct 01	- price swap- Nymex		QV0355

Please let me know at your earliest convenience if everything looks alright.

Dawn
3-9353


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Daren you are correct in that this was only in MOPS for the 26th.  It was
edi'd over to POPS from the 25th through the 31st populating all days with
the 16,700 nom.  The nom was never -0- out in POPS therefore the change
notification process in POPS did not pick up a change at this meter.  This
meter is pathed by Kim and confirmed by me - it is extremely odd that this
was missed in MOPS.  The record would have been out of balance and someone,
if not several people, normally would make a comment on this.   Also  -  all
of my records indicate that the 16,700 was good through the 31st except the
MOPS entry.  My confirmations with Koch didn't reflect the -0- ;  the last
report I have from Koch indicated the 16,700 stayed on, there was no record
of a phone call indicating anything other than 16,700.  It is very odd for
this many checks and balances to fail.  Also, the volumes were being sent
back to MOPS which no one caught.

I have spoken with Koch today and they agree that the 16,700 should have gone
to -0- therefore I have removed the nom from POPS confirmed volumes and
re-allocated the meter.  The OBA has taken the hit and I am working off the
imbalance now.

Daren, I am sorry that you had to look into this when you feel this is my
responsibility.  Stella was trying to help me out in clearing up errors
because I was buried in current activity, thus the e-mail to you asking for
your help.

If this doesn't answer all the questions, just give me a call.

Thanks,

Charlotte

Daren J Farmer
02/14/2000 12:50 PM
To: Stella L Morris/HOU/ECT@ECT, Charlotte Hawkins/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON
Subject: Re: Sale to Shoreline

Stella and Charlotte,

I looked into this deal.  We sold this gas for one day only.  In MOPS, the
path was nominated for 1/26 only.  However, in POPS the path was nominated
and confirmed for 1/26-1/31.  This should have been showing up as a
bridgeback error during the month.  Also, someone should have identified that
the path/nom in MOPS wasn't the same as the nom in POPS.  This discrepancy
should have been found before we closed out January.

I researched this problem by reviewing both systems (looking at the path id
in POPS, finding it in MOPS, and checking the audit on the path in MOPS).
This type of issue should be researched and solved by the logistics group,
who has all the necessary tools to find the problem.  The resolution, not the
problem, should have been presented to myself or the marketer, with an
explanation of what happened.  Some one still needs to find out how the gas
was confirmed for the 27th-31st.

Since the gas apparently flowed, we will have to apply the overflow to the
OBA.  Unless you can find a missing transport contract.

D

	From:  Stella L Morris                           02/10/2000 02:26 PM

To: Daren J Farmer/HOU/ECT@ECT
cc: Charlotte Hawkins/HOU/ECT@ECT
Subject: Sale to Shoreline

FYI
---------------------- Forwarded by Stella L Morris/HOU/ECT on 02/10/2000
02:25 PM ---------------------------

	From:  Sherlyn Schumack                           02/10/2000 02:21 PM

To: Joanie H Ngo/HOU/ECT@ECT, Katherine Herrera/Corp/Enron@ENRON
cc: Stella L Morris/HOU/ECT@ECT
Subject: Sale to Shoreline

Joanie,

Logistics is waiting to hear from Daren on this issue.  He will either need
to extend the deal or maybe there should be another deal in place.   This
deal 155118 is valid on 1/26/00 only, but the rest of the volume you are
looking for is scheduled on days 1/27 - 1/31.    I am sure there is no
pricing on those days.

I will let you know as soon as I hear from them.


Return-Path: <Vince.J.Kaminski@enron.com>
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Subject: part-time work
To: vkaminski@aol.com
Date: Wed, 18 Oct 2000 12:53:49 -0500
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/18/2000
01:00 PM ---------------------------

"Cantekin Dincerler" <cantekin@mail.utexas.edu> on 10/17/2000 10:40:22 AM

Please respond to <cantekin@mail.utexas.edu>

To:   <vince.j.kaminski@enron.com>
cc:
Subject:  part-time work

Vince:

I enjoyed the lunch and part of your presentation last week (I had an other
engagement to attend to, and hence could not make it to the rest of the
presentation and reception following it).

I appreciate the part-time offer, however, I must admit that I did not find
the terms very favorable. Unlike a person who is permamently located in
Houston, I would have the inconvenience and cost of commuting between
Austin
and Houston, and of accomodation both in Austin and Houston.

I really would love to work in the Research Group and am sincere about
this.
I would just hope that you would consider compensating me at manager level
so that I can cover transportation, accomodation expenses and more
importantly, justify the decision to devote at least half of my time to
Enron away from my thesis.

I will be looking forward to hearing from you soon.

Best,
Cantekin Dincerler

Doctoral Candidate
The University of Texas at Austin
Graduate School of Business
Department of Finance
office: (512) 471-1676
fax   : (512) 471-5073
home  : (512) 472-5356
cell  : (512) 680-5355
http://uts.cc.utexas.edu/~cantekin


Thanks for the increased VAR.  We got it right this time.


Below is the link that I cannot reach.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 09/02/99 02:23
PM ---------------------------
From: Brent Hendry AT ENRON_DEVELOPMENT@CCMAIL on 09/02/99 05:55 PM
To: Sara Shackleton@ECT
cc:
Subject: EBN GLOBAL POWER REPORT Newsletter (pdf)

---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
02/09/99 01:55 PM ---------------------------

Alexandre Bueno
02/09/99 04:48 PM

To:   Gabriela Aguilar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Silvia M
Veitia/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth K
Howley/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Milson
Filho/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Neil Sainsbury-Carter/HOU/ECT@ECT,
Andrea Calo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don
Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Federico
Cerisoli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Guillermo
Atenor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Guillermo
Mulville/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff
Kabel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John J
Shoobridge/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julian
Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Luis
Juarros/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pablo
Acevedo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Porter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Guillermo
Canovas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maria Ines
Granado/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricky Lynn
Waddell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Adriana
Domingues/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andre
Cangucu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Allison
Venditti/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brett R
Wiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Disneu
Santiago/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Edson
Pavao/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, George
Frumkin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Harold
Inman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John A
Hutten/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jose
Anson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diomedes
Christodoulou/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James M
Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Melaine
Fernandes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Plinio
Prado/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricardo D
Cunha/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard G
Francis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard A
Lammers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert
Gross/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robson
Freitas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven
Madrid/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Xavier A
Suniga/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marcelo
Parodi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mathis
Conner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brenda
Lemay/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Erika Dal
Colleto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lindolfo Ernesto
Paixao/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, D'Arcy
Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Luiz
Watanabe/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michelle
Parks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roberto
Pensotti/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jose
Yazigi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Claudia
Brun/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricardo
Mucci/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, mraymon@ect.enron.com, Marina
Silva/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert H
George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Idel
Metzger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roberto
Silveira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joao
Milanez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Peixoto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Duane
Schumacher/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daiane
Duarte/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Monica
Brissac/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mario
Trindade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jorge
Serpa/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gabrielle
Silva/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carlos
Contreras/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ricardo
Lisboa/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joana
Alvares/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Orlando
Puppin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian
Kvorning/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sergio
Nomura/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pedro Henrique
Oliveira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Armando
Laudorio/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Flavio
Silberberg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steve
Pearlman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mario
Trindade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Denise M
Macedo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Orlando
Gonzalez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eduardo
Cancian/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Remi
Collonges/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Corbin
Barnes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diego
Hollweck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bernardo
Andrews/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Claudio
Marques/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject:  EBN GLOBAL POWER REPORT Newsletter (pdf)

http://ei-sp-data01/biblioteca/gpr/gpr09_03_99.pdf


Kim prepared this analysis of historical San Juan/SoCal prices.  Please give
me a call to discuss.

C


Just a reminder that I am planning on being on vacation with my son next
week.  My clients are aware of these plans, and I have hopes that things will
go without a hitch.  I will be able to retrieve email and voice mail.

Kay


The omnibus swap below, plus this Annex A make up the "omnibus" confirm.

----- Forwarded by Tana Jones/HOU/ECT on 10/10/2000 02:52 PM -----

	Larry Joe Hunter
	10/09/2000 05:26 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Omnibus

Tana,

Here's a Draft I had in my personal file.  I thought this would be easier
than deleting the coding from the system template

Joe


latest on my system, but I'll check.
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/04/2001 04:54
PM ---------------------------

"Thompson, Peter J." <pthompson@akllp.com> on 02/28/2001 11:11:34 AM
To: "Dale Rasmussen (E-mail)" <Dale.Rasmussen@enron.com>, "Kay Mann (E-mail)"
<kay.mann@enron.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>, "Cobb, Chris"
<chriscobb@akllp.com>

Subject: LV Cogen/GE Agreement

 Attached please find the execution copy of the LV Cogen/GE
Agreement (the second document below), which incorporates the revised
Retention Letter amounts.  I have also included a blackline (first
document below) so that you can demonstrate to GE that no other changes
have been made.  To complete the Agreement, the date of execution must
be added to the first page and Exhibit H-2 must be inserted manually.  I
believe that you already have a copy of Exhibit H-2 provided by Lee
Johnson, but I will forward a copy momentarily.
 <<Comparison of LV Cogen/GE Agreement Versions 4 to 5.DOC>>  <<LV Cogen
Gas Turbine Purchase Agreement - Version 5.DOC>>
 - GE Agreement Versions 4 to 5.DOC
 - LV Cogen Gas Turbine Purchase Agreement - Version 5.DOC


The Star Diva has spoken!  I believe she is correct in everything but the
last part...if you really wanted to go somewhere by yourself, I know you
would come back.  And I would miss you while you were gone!  I cannot imagine
wanting to go on a trip without you, and I don't consider myself a
"wanderer," either.

Craig Lindberg <craigl@calpine.com> on 11/06/2000 12:42:46 PM
To: "'Susan.Scott@enron.com'" <Susan.Scott@enron.com>
cc:

Subject: RE: a word from Cosmo

How true do you think this is?

-----Original Message-----
From: Susan.Scott@enron.com [mailto:Susan.Scott@enron.com]
Sent: Monday, November 06, 2000 12:53 PM
To: craigl@calpine.com
Subject: a word from Cosmo

L O V E   H O R O S C O P E
+

Sagittarius  Sagittarius

  +

Since every Saj is equal parts idealist and gambler, your relationship
should be very interesting.
You're great pals, marvelous traveling companions, a pair of high-flying,
high-rolling
activist/adventurers. Just come down to earth once in awhile -- or find
someone else to
do it for you. This union requires periodic reality checks. You share each
others ideals, interests
and adventures like no one else can. Both of you like to read, study,
observe, learn and teach.
When you're doing all those things together, life may get exhausting but
never boring.
Travel is part of the glue that holds you together. So here's a warning:
Separate vacations
are a no-no. Each of you is such a wanderer, somebody might not come back --
or remain at home.

by   S T A R   D I V A