----- Forwarded by Elizabeth Sager/HOU/ECT on 10/05/2000 09:54 AM -----

	Janette Elbertson
	10/04/2000 04:49 PM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc:
		 Subject: ISDA North American Energy and Developing Products Committee

Elizabeth, is there a contact person for Sempra Energy?  (Please see below.)
If you do have a contact person can you have your assistant forward that
information to Rosemary Ryan will ISDA so they can invite people from Sempra
Energy to the meeting.  Many thanks.

Janette Elbertson
Enron North America Corp.
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com
----- Forwarded by Janette Elbertson/HOU/ECT on 10/04/2000 04:44 PM -----

	Rosemary Ryan <RRYAN@isda.org>
	10/04/2000 10:17 AM

		 To: Janette Elberton <janette.elbertson@enron.com>
		 cc:
		 Subject: ISDA North American Energy and Developing Products Committee

Janette,

Attached is the memorandum regarding the North American Energy and
Developing Products Committee meeting which will be held in Houston on
October 10.  We sent this out to all the Enron contacts by fax early last
week.  In addition to Mark (Haedicke) can you let me know if there will be
other representatives from Enron attending the meeting.

Also could I ask for your assistance in locating a contact name and
phone/fax number that we should forward this invitation to at Sempra Energy.

Thank in advance for your help.

Regards,

Rosemary

 <<Energy Developing Mtg_.doc>>

 - Energy Developing Mtg_.doc


Jeff - print.jpg is for printing (color or B&W)
Jeff - screen.jpg is for viewing as email or such on a computer monitor.

I figured these would be pretty self explanatory.  As always, let me
know if you have any trouble opening these.

Jim


I just got off the phone with Brent.  He was at the hospital getting ready to
take his daughter home and stopped to talk further with the doctor.  Brent
mentioned that when he had appendicitis, his symptoms weren't the "standard"
symptoms.  This got the doctor to thinking so he told Brent to hold off while
he checked something on the tests they had taken.   Brent's daughter is now
scheduled for surgery today to take out her appendix!

Brent will not be in today, but will probably be in the office tomorrow for a
few hours.

-Becky

----- Forwarded by Becky Spencer/HOU/ECT on 04/25/2001 10:02 AM -----

	Becky Spencer
	04/25/2001 09:24 AM

		 To: Swap Group
		 cc: Taffy Milligan/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Suzanne
Adams/HOU/ECT@ECT, Becky Spencer/HOU/ECT@ECT, Carolyn
George/Corp/Enron@ENRON, Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Keegan Farrell/NA/Enron@Enron, Nita Garcia/NA/Enron@Enron, Esmeralda
Gonzalez/ENRON@enronXgate
		 Subject: News-Brent's Daughter

I talked with Brent this morning.  It appears that his daughter does not have
appendicitis.  She has been running a fever, her white count was down, and
she had fluid collecting in her abdominal area.  The doctors were baffled as
to where this fluid was coming from.   As of this morning, Brent's daughter
is showing signs of improvement; her white count is better and her fever is
going down.  Doctors now think she has some kind of infection that is running
its course.    Brent will know more later today when he speaks to the doctors
about test results.

-Becky


Per our discussion, I added the sentence to the beginning of Section 5A.
Please review


Any word back of City of Riverside?


OU tix are in!

We'll work out leaving the tix for you under the mat, unless you'd like me
to fedex them to you.  Let me know

d

Darron.C.Giron@enron.com on 08/22/2001 10:42:07 AM

To:   David Plaisance/US/FAS/PwC@FAS
cc:
Subject:  RE: Season tix are in

It looks like we won't make it to Austin before the 1st.  I'll probably
just ask you to leave the tix under your front door matt on the day of the
NMSU game and we will stop by to pick them up.  I will verify this with you
next week.  I can't believe the season is already upon us.  Any word on OU?

Thanks
DG

    -----Original Message-----
   From:   <david.plaisance@us.pwcglobal.com>@ENRON

[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]

   Sent:   Monday, July 23, 2001 9:47 AM
   To:     Giron, Darron C.
   Subject:  RE: Season tix are in

   Sorry I misspelled your name again.  Just let me know when.  They'll be
   here

   d

   Darron.C.Giron@enron.com on 07/23/2001 09:37:06 AM

   To:   David Plaisance/FAS/Price Waterhouse@FAS
   cc:
   Subject:  RE: Season tix are in

   I may be in Austin later this summer.  I'm in no hurry to get the
   tickets.
   If you will, please hang on to them and I'll advise at a later date.
   Thanks.

   DG

       -----Original Message-----
      From:   <david.plaisance@us.pwcglobal.com>@ENRON

[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]

      Sent:   Sunday, July 22, 2001 3:17 PM
      To:     dgiron@enron.com
      Subject:  Season tix are in

      Darin - The season tickets are in; OU tickets will be mailed later.
   How
      do
      you want to pick them up?  Any plans to be in Austin, soon?

      Regards

      David

      512-278-1716 (o)
      512-272-5009 (h)

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

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

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply to Enron Corp. at enron.messaging.administration@enron.com and delete
all copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************

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


Kristy,

I am reviewing your Special Revisions and will be in touch with you in a few
days.

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


----- Forwarded by Susan J Mara/NA/Enron on 01/31/2001 04:16 PM -----

	Scott Govenar <sgovenar@govadv.com>
	01/31/2001 12:13 PM

		 To: Hedy Govenar <hgovenar@govadv.com>, Mike Day <MDay@GMSSR.com>, Bev
Hansen <bhansen@lhom.com>, Jeff Dasovich <jdasovic@enron.com>, Susan J Mara
<smara@enron.com>, Joseph Alamo <JAlamo@enron.com>, Paul Kaufman
<paul.kaufman@enron.com>, David Parquet <David.Parquet@enron.com>, Rick
Johnson <rick.johnson@enron.com>, Marcie Milner <mmilner@enron.com>, Sandra
McCubbin <Sandra.McCubbin@enron.com>, Tim Belden <Tim.Belden@enron.com>, Rick
Shapiro <rshapiro@enron.com>, Jim Steffes <james.d.steffes@enron.com>, Alan
Comnes <acomnes@enron.com>, Chris Calger <ccalger@enron.com>, Mary Hain
<mary.hain@enron.com>, Joe Hartsoe <Joe.Hartsoe@enron.com>, Donna Fulton
<Donna.Fulton@enron.com>, Steven Kean <Steven.J.Kean@enron.com>, Karen Denne
<kdenne@enron.com>, Beverly Aden <beverly.aden@enron.com>, Bill Votaw
<bill.votaw@enron.com>, Carol Moffett <carol.moffett@enron.com>, Debora
Whitehead <debora.whitehead@enron.com>, Dennis Benevides
<dennis.benevides@enron.com>, Don Black <don.black@enron.com>, Dorothy
Youngblood <dorothy.youngblood@enron.com>, "dblack@enron.com"
<dblack@enron.com>, "emelvin@enron.com" <emelvin@enron.com>,
"ehughes2@enron.com" <ehughes2@enron.com>, "gweiss@enron.com"
<gweiss@enron.com>, "gsavage@enron.com" <gsavage@enron.com>,
"Harry.Kingerski@enron.com" <Harry.Kingerski@enron.com>, "kgustafs@enron.com"
<kgustafs@enron.com>, "msmith1@enron.com" <msmith1@enron.com>,
"ryang@enron.com" <ryang@enron.com>, "sgahn@enron.com" <sgahn@enron.com>,
"vsharp@enron.com" <vsharp@enron.com>, "wcurry@enron.com" <wcurry@enron.com>,
"William.S.Bradford@enron.com" <William.S.Bradford@enron.com>
		 cc:
		 Subject: ABX 1

ABX 1 passed out of the Senate on a vote of 27-8.  Three Republicans
voted for the bill, one Democrat against.  The bill will be heard on the
Assembly floor later today.

Senator Bowen has requested that we provide her with legislative
language regarding direct access for her clean-up legislation.  Senator
Bowen made a commitment on the Senate floor that she would try to
resolve the issue in future legislation.

In anticipation of the clean-up legislation, we held a meeting this
afternoon with the following groups to try and come to some consensus
regarding direct access:

California Manufacturers and Technology Association
Building Owners and Managers Association
California State University
University of California
California Chamber of Commerce
New Energy
AES
Association of Retail Marketers
California Healthcare Association
GreenMountain
California Large Energy Consumers Association
California Retailers Association
California Grocers Association

The following groups could not attend today's meeting, but they
expressed an interest in participating in the discussions:

California Farm Bureau
California Restaurant Association


Paula,

Does not wok for me.

Vince

From: Paula Corey@ENRON COMMUNICATIONS on 04/17/2000 08:54 AM PDT
To: Vince J Kaminski/HOU/ECT@ECT, Anthony Mends/Enron Communications@Enron
Communications, Carl Livermore/HOU/ECT@ECT, Beth Perlman/HOU/ECT@ECT, Lou
Casari/HOU/EES@EES, Steve Lovett/Enron Communications@Enron Communications,
ametz@flash.net, Vanessa Carranza/Corp/Enron@Enron
cc:
Subject: Round  Table - Rescheduled

Ok - One more time ... Will Friday, May 19 work for everyone? Dinner at La
Mora 5:30 ish?
Please let me know and I will make reservations

Thank you

Paula


Attached is EPMI's protest of GridFlorida's amended Dec. 15 filing.  We
protested:

Certain Governance provisions
The allocation to the utilities of the PTRs (physical transmission rights)
The balanced day ahead scheduling requirement (telling FERC that it should
require a real time energy market instead)
Suggest an alternative approach to the ICAP market in which the ICAP is
monitored and a market only established after the icap drops (incentivizing
the LSEs to keep their reserves at the required level)

 - 0137379.01


Pat,

I have been working with Volume Management, Settlements, Vance, and Bob to
clean up some prior period and prior-to-current month issues.  This process
should result in a correction to booked profit/loss for Vance and the desk.
This has brought to my attention that we have been paying some parties
manually for volumes when deals are not correctly entered.  I would propose
that Logistics be included in the communication of when checks are manually
cut.  It would be especially beneficial if we tracked manual checks by
counterparty, meter, and/or deal ticket id or price.  I feel that this will
allow us to spot and resolve potential issues more effectively.

Please let me know what your thoughts are on this matter.

Thank you for your time,

Mary

ext 35251


The attached confirm is a swap.  There is no need for a rep in the confirm.
If a weather deal is structured as an option, Gordon Heaney (backed by Diane
Anderson) who confirms weather transactions, adds the weather-specific Trade
Option rep into the confirmation.  The desk uses a template for options.  Let
me know if you have any other questions.  Sara

	Tana Jones
	08/07/2000 10:52 AM

		 To: Brent Hendry/NA/Enron@ENRON
		 cc: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 Subject: Re: weather confirm

I thought this was what we were already doing.  Sara, Mark, wasn't that your
understanding?

	Brent Hendry@ENRON
	08/07/2000 10:45 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 Subject: Re: weather confirm

When the Master does not have the weather modification to the Trade Option
Exemption representation then I think we should include it in the confirm. Is
this feasible?

	Tana Jones@ECT
	08/07/2000 10:25 AM

		 To: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Brent
Hendry/NA/Enron@Enron
		 cc:
		 Subject: Re: weather confirm

Tanya forwarded the attached confirm on to me.  Are we supposed to have that
weather rep also in confirmations when we trade under a master?
----- Forwarded by Tana Jones/HOU/ECT on 08/07/2000 10:24 AM -----

	Tanya Rohauer
	08/07/2000 10:21 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: weather confirm

---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 08/07/2000 10:17
AM ---------------------------

	From:  Diane Anderson @ ENRON                           08/07/2000 10:09 AM

To: Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Re: weather confirm


I just changed the rate on Algon/transport usage deal 233358 from $.26 to
$.0206.  We should get back 155,000 x $.2394 == $37,000 tonight.


Michelle,
Please ammend contract # 25374 to include the month of February 2001.
Thanks,
Andrew Pacheco


Dan , if he brings this one home, will be a hero.
---------------------- Forwarded by Richard Shapiro/HOU/EES on 05/04/2000
01:17 PM ---------------------------
From: Christi L Nicolay@ECT on 05/04/2000 10:52 AM
To: Richard Shapiro/HOU/EES@EES
cc:
Subject: IMPORTANT NEPOOL ICAP: See the attached from Phil Pellegrino

---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 05/04/2000
10:52 AM ---------------------------

John Llodra@ENRON
05/04/2000 06:36 AM
To: NEPOOL Power Trading Group, Christi L Nicolay/HOU/ECT@ECT
cc:
Subject: IMPORTANT NEPOOL ICAP: See the attached from Phil Pellegrino

Way to go ISO-NE!  Hats off to Dan Allegretti for nurturing this outcome!

---------------------- Forwarded by John Llodra/Corp/Enron on 05/04/2000
07:33 AM ---------------------------

Customer Service at ISO-NE <custserv@iso-ne.com> on 05/03/2000 06:51:59 PM
To: NEPOOL Participant Committee <npmc@iso-ne.com>
cc:

Subject: See the attached from Phil Pellegrino

 <<Pellegrino letter>>  <<necessary changes>>  <<findings>>  <<Exhibit A>>

 - Pellegrino letter.doc
 - necessary changes.doc
 - findings.doc
 - Exhibit A.xls


Believe you me, I have no intent of accepting any such invoice.

Carlos Sole'
Senior Counsel
Enron North America Corp.
1400 Smith Street
Houston, Texas 77002-7361

(713) 345-8191 (phone)
713 646-3393 (fax)


Dear Mr.Lay,
?
Your organization being an  energy and communications company, you would
certainly be operating an email  response center for servicing the client
needs. With growing business needs your  organization would need efficient
and quality services for handling? e-mail  responses. We have a business
proposition to fulfill your business objective  with respect to customer
service from our operations center in  India.
?
Mphasis India has tied up  with Kana software for being primary resellers and
implementation partners for  Kana products in India.We have certified Kana
professionals to implement and  operate Kana response services in our centers
in Pune and  Bangalore.
?
As your current email  management system is based on Kana software we would
like to offer our email  management services for the same.

Our value proposition

Quality of resources: The people we recruit are graduates with good  English
speaking capabilities
Round the clock operations: We offer 24X7X365 operations to facilitate
better turnaround times per business day
Lower cost of operations: Our operating costs are 25-30% lower than
comparable U.S operations
Flexibility: We will adjust our resource allocation to suit your needs  for
peak as well as average volumes
Reporting & monitoring: Archiving of messages and well equipped  monitoring
tools help our clients attain better & consistent service  levels

A brief introduction about us:

M-source is a division of Mphasis-BFL offering remote  services in the area
of, call centers, e-mail processing,  helpdesk, claims processing and backend
operations.

Mphasis Corporation (pronounced "emphasis") which is a technology solutions
and service company was founded in 1998 by Ex-Citibankers from senior
business  and technology positions.

Mphasis has recently agreed to merge with BFL Software. The combined entity
will be called Mphasis-BFL and will have combined staff strength over 1,400.

Mphasis-BFL has seven large facilities located at Mumbai, Bangalore and
Pune.

We are currently implementing a call center for one of the largest banks in
USA

Attached is the presentation giving a brief overview of our  operations?

Regards,
Rajesh  Sarkar

Mphasis India
3rd Floor, SAKAR-10
33, Sassoon  Road
Opposite Jahangir Hospital
Pune 411001, India
?
Phone:  +91-20- 605 1192-95
Fax : +91-20- 6051179
www.mphasis.com
?

 - MsourcE_credentials_Aug2000.ppt


TELEPHONE NUMBERS:  (281) 297-5146 & (281) 297-5147

FAX NUMBERS:  (281) 297-5148, (281) 297-5149, & (281) 297-5150

THESE NUMBERS WILL BE ACTIVE DURING THE CONFERENCE.  SHOULD YOU NEED TO SEND
A FAX  PRIOR TO THE CONFERENCE, THE MAIN FAX NUMBER TO THE WOODLANDS IS:
(281) 364-6234.

AGAIN, SHOULD ANY OF THESE NUMBERS CHANGE, WE WILL CONTACT PAT RADFORD IN THE
HOUSTON OFFICE.  HER TELEPHONE NUMBER IS (713) 853-9282.  IN THE EVENT YOU
CANNOT REACH PAT, THE MAIN NUMBER TO THE WOODLANDS CONFERENCE CENTER IS (281)
367-1100.


Hi Karolina,

Yes, it might be more productive to talk on the phone.  Given our time
difference, why don't we plan on tomorrow (Friday) 8:00AM PDT, 4:00PM BDT?  My
number in the states is 503-464-8430.  Give me your number, too, so that I can
call back if I get hung up in a meeting or something.

The situation is complicated by the fact that the marginal cost is set by the
capacity increment of a plant that is on the margin in a particular hour, but
in constructing the stack, increments of a plant may be scattered throughout
the stack, based on their respective incremental heat rates.  (This is why
increment heat rates must be strictly increasing in this model.)  Results for
the capacity increments, however, are not available as output; only each
plant's aggregate values are reported.

I had to construct the stack for a particular hour to answer question about a
Homer City, NY plant we were studying a few years ago.  Attached is the SQL
query you can import into MS ACCESS to do the same thing for you (making
appropriate modifications to the year, hour, etc.)  Unfortunately, no Henwood
documentation on the output variables existed when I created this query, so I
can not really tell you what they represent anymore.  An acquaintance of mine
at Entergy and I were lobbying to get Henwood to provide some documentation,
so it may be available now.

Let's talk and maybe we can help you out,
Michael

>>> Karolina Potter/LON/ECT@ENRON 08/24/00 07:08AM >>>
Michael,

I am an analyst in Paul Mead's Continental Power Trading group in London. I am
currently working on the project, which requires the use of EMSS, and
experience some difficulties interpreting the output results. Steven Leppard
from our research group gave me your name as an expert in this system and
consequently the person to contact in case of problems.

I have been running simulations for the Dutch market and was asked to provide
the traders with some front-end screen graphs in order to interpret the
numerical results. One of the graphs is to show an hourly generation stack and
system's marginal cost, as we only run cost based scenarios. To sort each
station's hourly generation I need its marginal cost. To my knowledge though,
marginal cost is only generated for a systems marginal unit (TransArea
Marginal Units query, Marg_cost unit). Therefore I was sorting the stations
according to the cost which I calculated based on the outputs from Station
Detail by Hour query. The calculation was as follows:

For each hour, for each generating station:

"marginal cost" [o/MWh] = (Generation_Cost [o000] * 1000)/Generation [MWh] -
VOM_cost [o/MWh]

This I thought would include fuel cost and start up costs. However, a marginal
station which I get on the stack as a result of the above calculation is not a
station given in Marginal Station field in TransArea Marginal Units query. I
have also looked into TransArea_Data_Hr table and TransArea_Data table but non
of the costs there match my results.

Do you happen to know what formula is used to determine Marg_cost and which
outputs I should be using to obtain the right results?

It might be easier if we could discuss this issue on the phone. In this case
could you please send me your direct telephone number. I am struggling
understanding what is going on and would appreciate your help very much.

Regards

Karolina


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/21/2000
06:24 PM ---------------------------

Stinson Gibner
06/21/2000 04:59 PM
To: Shalesh Ganjoo/Contractor/Enron Communications@ENRON COMMUNICATIONS@ENRON
cc: Martin Lin/Contractor/Enron Communications@Enron Communications@ENRON,
Samer Takriti/Enron Communications@Enron Communications@ENRON, Vince J
Kaminski/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT
Subject: Re: Speed of Light

O.K.  Here is a physicist's response.

http://www.aps.org/WN/WN00/wn060900.html

From: Shalesh Ganjoo@ENRON COMMUNICATIONS on 06/21/2000 12:54 PM PDT
To: Martin Lin/Contractor/Enron Communications@Enron Communications, Samer
Takriti/Enron Communications@Enron Communications, Stinson
Gibner/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT
cc:
Subject: Speed of Light

Gentlemen,

Please take a look at this article!  Thank you.

http://www.sunday-times.co.uk/news/pages/sti/2000/06/04/stifgnusa01007.html

Shalesh Ganjoo


Seems like information that we'd want to get our hands on, non?


I spoke with Louise Paul and she confirmed that they would like to use
Paperboard Industries Corporation (PIC) as the contracting entity and would
be willing to provide a corporate guaranty from Paperboard Industries
International (PII).

I am confused as to how many trades actually exist.  Per TAGG, there are two
(NH9975.1 done on May 12 and Q25809.1 done on October 4); however, in the
legal database Susan references a September 13 template sent out which Louise
Paul also mentioned.  Is this a real deal or was it just a draft?

As the May confirm was never signed, I do not know if we will need to
actually assign it to the new entity.  We need to make sure that all of the
confirms reference PIC as the contracting entity with PII as guarantor.  All
of the credit terms apply; however they will apply to the guarantor now
instead of the counterparty.   I have also changed the MAC trigger to B+ as
PII has been downgraded from BB- to B+.  I have attached a new credit
worksheet for your reference. If there are any other inconsistencies to the
previous documents other than what I have referenced, please let me know.

Also, the database mentions the Enron Corp gty that was delivered in
conjunction with the May trade.  Can you confirm the amount at $15MM as well
as send me a copy for my file?

Louise has asked that all correspondence be directed to her attention. Please
let me know if you have questions.

Thanks,
Tanya


As you are aware, Enron utilizes temporary staffing services to satisfy
staffing requirements throughout the company.  For the past several months, a
project team, representing Enron,s temporary staffing users, have researched
and evaluated alternative Managed Services programs to determine which source
would best meet our current and future needs in terms of quality, performance
and cost containment objectives.  The Business Unit Implementation Project
Team members are:

Laurie Koenig, Operations Management, EES
Carolyn Vigne, Administration, EE&CC
Linda Martin, Accounting & Accounts Payable, Corporate
Beverly Stephens, Administration, ENA
Norma Hasenjager, Human Resources, ET&S
Peggy McCurley, Administration, Networks
Jane Ellen Weaver, Enron Broadband Services
Paulette Obrecht, Legal, Corporate
George Weber, GSS

In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA),
Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the
Selection Project Team.

As a result of the team,s efforts, we are pleased to announce the beginning
of a strategic alliance with CORESTAFF,s Managed Services Group.  This group
will function as a vendor-neutral management entity overseeing all staffing
vendors in the program scope. They will also provide a web based online
technology tool that will enhance the ordering and reporting capabilities.
The goal of our alliance with CORESTAFF is to make obtaining a temporary
worker with the right skills and experience easier while protecting the best
interests of the organization.

We plan to implement Phase I of this improvement effective January 2, 2001.
This Phase I of the implementation will encompass administrative/clerical
temporary workers at the Houston locations only. If you currently have
administrative/clerical temporary workers in your department, the enhancement
will not affect their position. In an effort to preserve relationships, all
current staffing vendors will be invited to participate in this enhanced
program.  CORESTAFF shares our commitment to minimize any disruptions in
service during this transition.

We expect to incorporate the administrative/clerical workers in Omaha,
Seattle and Portland in Phase II, which is scheduled for February, 2001.  The
scope and timing of any additional phases will be determined after these two
phases have been completed.

Realizing the impact that the temporary workforce has in business today, we
selected CORESTAFF,s Managed Services Group based on their exceptional
management team, commitment to quality service, and creative solutions to our
staffing needs.  The relationship promises to offer Enron a cost effective
and simple means for obtaining temporary employees.

In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be
communicating to Enron,s administrative/clerical temporary staffing vendors
about the new process.

There are many benefits to this new Managed Services program, which are
outlined on the attached page.  More details on how to utilize CORESTAFF,s
Managed Services program will be announced soon and meetings will be
scheduled to demonstrate the reporting system and to meet the Managed
Services team.

What is Managed Services?

CORESTAFF,s Managed Services program includes:

? Vendor-neutral management model
? Equal distribution of staffing orders to all staffing partners
? Web-based application with online ordering, data capture and customized
reporting
? Benchmarking and performance measurement for continuous improvement
? Methodologies for accurate skill-matching and fulfillment efficiencies

Key Benefits

? More vendors working on each order from the outset ) faster access to
available talent pools
? Standardized mark-ups and fees to manage costs more effectively
? Online access to requisition status for users
? Robust databases offering managers enhanced tracking and reporting of
temporary usage and expenditures
? Standard and customized reporting capabilities -- online
? Tenured, experienced Managed Services team on-site to assist users in
accessing web site, identifying usage trends, preparing specialized reports,
etc.

Corestaff/Managed Services/Staffing

Joseph Marsh ) Lead / Operations (josephm@corestaff.com; 713-438-1400)
Amy Binney, Sharon B. Sellers ) Operations
Cherri Carbonara ) Marketing / Communications
Cynthia Duhon )Staffing Partner management


I had Sam organize margin line files with particular brokerage agreement.  I
only had made an entry in FIMAT, but not the others.  I added an entry on the
others today that are closed.  As they close I will note in teh database.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


Tana:

Go ahead and revise the NDA to replace EBS with Net Works and I'll initial
for execution.

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 10/23/2000 01:23 PM -----

	Laura Howenstine@ENRON COMMUNICATIONS
	10/23/2000 11:15 AM

		 To: Leslie Hansen/HOU/ECT@ECT@ENRON
		 cc: Tana Jones/HOU/ECT@ECT@ENRON
		 Subject: Re: one more NDA

Leslie,

Yes, you are correct.  If you can send me the NDA with any modifications that
you require, I'll send it back to Xuma for their signature.

Thanks,
Laura

	Leslie Hansen@ECT
	10/23/00 11:16 AM

		 To: Laura Howenstine/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc: Tana Jones/HOU/ECT@ECT
		 Subject: Re: one more NDA

Laura:

Am I correct in understanding that Xuma signed the EBS form without
modification?  If that is the case, we should prepare the NDA with Enron Net
Works LLC as the party in lieu of EBS and have Xuma execute the revised
agreement.  In the future, we need to use the Net Works form of NDA; however,
since the EBS form has already been sent to and accepted by the Counterparty,
I'm okay using this form.

Regards,

Leslie Hansen

	Laura Howenstine@ENRON COMMUNICATIONS
	10/23/2000 10:23 AM

		 To: Leslie Hansen/HOU/ECT@ECT, tana.jones@enron.com
		 cc:
		 Subject: Re: one more NDA

Tana/Leslie,

Attached is the NDA that we used with Xuma.  They've signed it in hard copy
and sent it back to me, but since then our group has switched from EBS to Net
Works.  Please advise as to how you need to modify this.

Thanks,
Laura

----- Forwarded by Laura Howenstine/Enron Communications on 10/23/00 10:07 AM
-----

	Robin Hill
	09/12/00 03:44 PM

		 To: Laura Howenstine/Enron Communications@Enron Communications
		 cc:
		 Subject: Re: one more NDA

Here is the NDA for XUMA.

Robin L. Hill, Legal Specialist
Enron Broadband Services
1400 Smith, Suite 4545
Houston, Texas 77002
(713)853-3255
(713)646-8537 fax
Robin_Hill@Enron.net

	Laura Howenstine
	09/12/00 02:48 PM

		 To: Robin Hill/Enron Communications@Enron Communications
		 cc:
		 Subject: one more NDA

Thanks, Robin.  I actually have another NDA to ask you for and it's a last
minute request for a meeting that I'm attending tomorrow in San Francisco
(for which I'm leaving in an hour or so).

The counter party is a company called XUMA.  The relevant info is below.
Thanks and I'll follow the same procedure as with onexchange.

Regards,
Laura

NDA needed for:
XUMA
160 Pine Street - #200
San Francisco, CA 94111

	Robin Hill
	09/12/00 12:37 PM

		 To: Laura Howenstine/Enron Communications@Enron Communications
		 cc:
		 Subject: RE: NDA

Here is the NDA.  Please select the "Read Only" option in order to open and
print.  Please print 2 originals for signature so each party has an original
executed NDA, or you may e-mail it to them as long as they follow up with 2
originals.  After the other party executes it, you will need to get an EBS
attorney to initial it before an EBS VP or above can execute it on our
behalf.  If you have any questions please call me and please make sure I get
an executed original back.  Thanks.

Robin L. Hill, Legal Specialist
Enron Broadband Services
1400 Smith, Suite 4545
Houston, Texas 77002
(713)853-3255
(713)646-8537 fax
Robin_Hill@Enron.net

	Laura Howenstine
	09/11/00 04:31 PM

		 To: Robin Hill/Enron Communications@Enron Communications
		 cc:
		 Subject: RE: NDA

Hi Robin,

The information that you require for the NDA is in the message below.

Thanks.

Regards,
Laura

----- Forwarded by Laura Howenstine/Enron Communications on 09/11/00 04:33 PM
-----

	ed@onexchange.com
	09/11/00 02:17 PM

		 To: Laura Howenstine/Enron Communications@Enron Communications
		 cc:
		 Subject: RE: NDA

Hi Laura,

Here's all the info:

Ed Cuoco
onExchange
Reservoir Place
1601 Trapelo Road
Waltham, MA 02451
781.672.3400  x223
781.672.3408  fax
www.onexchange.com

-----Original Message-----
From: Laura_Howenstine@enron.net [mailto:Laura_Howenstine@enron.net]
Sent: Monday, September 11, 2000 3:00 PM
To: Ed Cuoco
Subject: NDA

Ed,

I'm sorry to bother you with this, but I have not been able to pull up your
street address on your web site - I get a message that the server is busy.
If
you send me the relevant info on Onexchange, as requested below, I'll send
it on
to our legal department to expedite the NDA.

Thanks.

Regards,
Laura

Laura Howenstine
Manager, Enron Broadband Services
713-853-0308 (office)
713-304-7819 (mobile)
laura_howenstine@enron.net

----- Forwarded by Laura Howenstine/Enron Communications on 09/11/00 01:59
PM
-----
|--------+----------------------->
|        |          Robin Hill   |
|        |                       |
|        |          09/11/00     |
|        |          12:24 PM     |
|        |                       |
|--------+----------------------->

>---------------------------------------------------------------------------
-|
  |
|
  |       To:     Laura Howenstine/Enron Communications@Enron Communications
|
  |       cc:
|
  |       Subject:     NDA
|

>---------------------------------------------------------------------------
-|

Laura, please send me the full legal name and address of the company and I
will
draft the NDA for you to forward to the client.  Thanks.

Robin L. Hill, Legal Specialist
Enron Broadband Services
1400 Smith, Suite 4545
Houston, Texas 77002
(713)853-3255
(713)646-8537 fax
Robin_Hill@Enron.net


This is sad, don't let him know I forwarded  it to you.

-----Original Message-----
From: Murphy, Tim [mailto:Tim.Murphy@ElPaso.com]
Sent: Monday, November 12, 2001 11:09 AM
To: Whitt, Mark
Subject: RE: Top ten uses for the new Enron building

Tropical storm Allison did us in. 2 feet of water in the casa. Lost everything except some furniture. Nad's can't make up her freaking mind as to what she wants sooooo, we are moving at a "deliberate" pace. I've reached my "let's make a decision" point a long time ago. We do not like each other anymore, and fight like cats and dogs. I give her until the end of the year before she tells me to hit the road. Without Meaghan I would have been gone long ago. Know anyone who wants to have fun with an old fart? I may be fat and ugly but I have been celibate for THREE YEARS.

-----Original Message-----
From: Whitt, Mark [mailto:Mark.Whitt@ENRON.com]
Sent: Monday, November 12, 2001 11:17 AM
To: Murphy, Tim
Subject: RE: Top ten uses for the new Enron building

I didn't know you were living in an apartment.  When did this happen.  What do you mean repair or rebuild?  I hate to hear about you and Nadine.  That is too bad.  Didn't she know you were a piece of shit when she married you!  I hate that these women forget that we have always been shitty.

The kids are great!  Brock is finally becoming alot more fun.  He and Lauren get along really well.

Too hard to tell what will happen with Dynegy.  Not sure I want to work for this new regime.  I guess it all comes down to money.  As always I'm still a whore.

-----Original Message-----
From: Murphy, Tim [mailto:Tim.Murphy@ElPaso.com]
Sent: Monday, November 12, 2001 9:51 AM
To: Whitt, Mark
Subject: RE: Top ten uses for the new Enron building

Still living in the apartment, trying to decide what to do with the house (repair or rebuild). Things continue to deteriorate with Nadine. Between you and me I doubt if we'll make it to our 20th anniversary unless it's for Meaghan's sake.

How's your clan? Girls driving you nuts?

What's your take on what you'll do with the merger or is it too soon to call?

Take care, Murph.

-----Original Message-----
From: Whitt, Mark [mailto:Mark.Whitt@ENRON.com]
Sent: Monday, November 12, 2001 10:31 AM
To: Murphy, Tim
Subject: RE: Top ten uses for the new Enron building

Isn't it crazy!  I just have a hard time believing it is real.  What have  you been up to?

-----Original Message-----
From: Murphy, Tim [mailto:Tim.Murphy@ElPaso.com]
Sent: Friday, November 09, 2001 12:33 PM
To: 'Bump, Dan'; 'Whitt, Mark'
Subject: FW: Top ten uses for the new Enron building

Subject:        Top ten uses for the new Enron building

  TOP TEN USES FOR THE NEW ENE BLDG

1. HEALTH CLUB
2. LOFTS
3. PUBLIC STORAGE
4. HOTEL FOR SEC INVESTIGATION TEAM
5.  SKY RING BAR AND BROTHEL
6. SCRAP METAL
7.  RETAIL CENTER
8. MINIMUM SECUTRITY FEDERAL PRISON FOR EXECUTIVES
9.  PROP IN NEXT HOLLYWOOD ACTION FLICK: IMPLOSION
10.PERMANENT REMINDER TO ALL INVESTORS: SELL WHEN THEY BUILD A
 MONUMENT TO SELF

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
**********************************************************************

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


Frank,

Does the below time work for you for a conference call regarding the above?

Stephanie
 -----Original Message-----
From: 	"KAPUSTKA, LAURA L" <lkapustka@oppd.com>@ENRON
Sent:	Friday, October 19, 2001 7:53 AM
To:	Panus, Stephanie
Cc:	'ademulling@fraserstryker.com'
Subject:	FW: ISDA Agreement

Stephanie -
Thank you for the phone call yesterday.  Could we schedule a conference call
with Dr. Sayre on Monday, October 29 at 10:30 Central Time?  If that time
does not work, please let me know.  If that time works, I will plan on
calling Dr. Sayre at 713-345-7894.  Thanks -

Laura Kapustka
Manager - Treasury & Risk Management
Omaha Public Power District
(402) 636-3057

> -----Original Message-----
> From:	KAPUSTKA, LAURA L
> Sent:	Wednesday, October 17, 2001 4:32 PM
> To:	'frank.sayre@enron.com'
> Cc:	'ademulling@fraserstryker.com'
> Subject:	ISDA Agreement
>
> Dear Dr. Sayre:
> Thank you for your letter regarding the ISDA Agreement being executed
> between OPPD and Enron.  I have discussed your letter with our General
> Counsel (Fraser Stryker).  I would like to set up a conference call to
> discuss the issues raised in your letter.  Would you be available for a
> conference call on Thursday, October 18 or October 29?  I will look
> forward to hearing from you.
>
> Laura L. Kapustka
> Manager - Treasury & Risk Management
> Omaha Public Power District
> (402) 636-3057


From Enron Corp Business Controls

Operations in Enron's Crisis Management Center will cease at the close of business in Houston on September 12.  All inquiries or information pertaining to the events of the last two days should now be directed to Enron Corp Business Controls at 713.345.2804.  In the event immediate assistance is required after hours, the Business Controls telephone number will be answered by the 24x7 security desk which can have a representative from Business Controls return your call immediately.

With respect to employees stranded around the United States, we regret that these employees should make their way back to Houston or their home office as best they can via commercial airlines, train, or rental car.  Unfortunately, corporate and other private aircraft will not be flying until sometime after restrictions are lifted on commercial carriers.  Therefore, Enron corporate aircraft should not be counted on to provide assistance in this situation.


I have a conflict on my calender.   I can meet at 3:00 only on Thursday and will be out on Friday.

 -----Original Appointment-----
From: 	Cummings, John
Sent:	Wednesday, October 03, 2001 7:11 AM
To:	Goughary, Jim; Wilson, John L.; White, Bill; Black, Tamara Jae; Presto, Kevin M.; Arnold, Bernie
Subject:	Updated: REFCO Pricing & Products Discussion - If you can make it
When:	Thursday, October 04, 2001 4:30 PM-5:30 PM (GMT-06:00) Central Time (US & Canada).
Where:	EB27C2

I apologize about the previous mistake on the date.  This is for tomorrow afternoon.

Attending from REFCO:
Joe Murphy, CEO Global Refco Futures
Gary Weiss, SVP, Refco Group LLC


Chris Foster has requested that we set up a new broker - the Automated Power
Exchange, in EnPower. It is the same counterparty we already have in EnPower,
with the same name and contact information. Melissa, I believe you said we
could pretty easily add the name in the broker list if it was the same as in
the counterparty list, which Chris has verified it is. Please let me know if
you need anymore information.

Thanks,
Kate


John Lavorato confirmed that UBS is indeed the winner.  As I understand it, UBS has come to an agreement with Enron for the purchase of the North America Gas/Power Trading and Marketing organization.  We either have received or are expected to receive approval from the Creditors committee today.  Creditors Committee approval is considered likely as they have been in the loop on this transaction all along.  It will most likely go in front of the judge on Monday.  Approval from the judge is expected.  I have a meeting in the next couple of hour where I will get more details.  Stay tuned ...

Tim


---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 12/27/2000
06:02 PM ---------------------------

	From:  Sheila Glover                           12/27/2000 05:57 PM

To: Kam Keiser/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Monica Lande/PDX/ECT@ECT,
Jenny Latham/HOU/ECT@ECT, John Swinney/HOU/ECT@ECT, Stacey W
White/HOU/ECT@ECT, Frank Prejean/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT,
Kathy Reeves/CAL/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Scott
Earnest/HOU/ECT@ECT, Tracy Beardmore/NA/Enron@Enron, Michael
Giarratano/NA/Enron@ENRON, Shifali Sharma/NA/Enron@Enron, Kristin
Albrecht/Enron Communications@Enron Communications, Gary Stadler/Enron
Communications@Enron Communications, Reno Casimir/NA/Enron@ENRON, Mary
Thambiah/LON/ECT@ECT, Sheila Foo/LON/ECT@ECT, Paul D'Arcy/LON/ECT@ECT, David
A Wall/Risk Mgmt/LON/ECT@ECT, Mike Jordan/LON/ECT@ECT, Hege
Kleven/OSL/ECT@ECT, Simon Thurbin/HOU/ECT@ECT, Trond Branem
Hansen/OSL/ECT@ECT, Coralie Evans/LON/ECT@ECT
cc: Gary Hickerson/HOU/ECT@ECT, Pushkar Shahi/HOU/ECT@ECT, Ellen
Su/Corp/Enron@Enron, Shane Dallmann/LON/ECT@ECT, Brent A Price/HOU/ECT@ECT,
Sally Beck/HOU/ECT@ECT, Clara Carrington/HOU/ECT@ECT
Subject: Interest-Rate Hedging Guides - REMINDER

Just a reminder....
Please advise the Rate & Currency Trading Desk when large deals are going to
be booked by 1:30 P.M. (CST).  This allows the desk to hedge the deal for
interest rates on the same day that the trade is booked in the commodity
books.  This eliminates Enron's exposure to markets on the following day for
these large deals.

If the Rate & Currency Trading Desk is not notified of large deals prior to
1:30 P.M., the desk will hedge the interest-rate exposure the next day on a
best efforts basis.  On these deals, any resulting profit or loss in excess
of $20,000 will be passed back to the originating group by the trading desk.

We request that the book adminstrator advise Clara Carrington, 3-9224, and
the Traders should be advising Pushkar Shahi, 3-9199, or Ellen Su, 3-5256, on
the Rate & Currency Trading Desk.  Europe should contact Shane Dallman,
3-4997. in the London office.

Ellen has put together some guidelines which you can share with your traders
regarding the sizing for large deals.   This is included below.

Your cooperation is appreciated.
Sheila

Guidelines:
The following is a guide to the profit/loss levels in various tenors that
would require notification of the interest-rate desk.

Tenor  Notional Cash Flows
2y  30,000,000
3y  20,000,000
5y  15,000,000
10y  10,000,000
15y  7,000,000
20y  5,000,000

Please remember that these amounts are not cumulative.  Each bucket needs to
be evaluated alone, and then aggregated.  For example, if you had a -30mm
notional cash flow in the 2-year bucket and it is offset by a +30mm notional
cash flow in the 20-year bucket, the result would still be very significant
as the net long cash flow position would still be around +25mm 20-year cash
flows.

As always, if you are ever unsure, we are more than happy to look at
deals/curve changes to determine significance.  Thanks.

Ellen Su
(713) 853-5256


Today we announced the appointment of Jeff McMahon as Enron's chief financial officer.  In my continued discussions with the financial community yesterday and today, it became clear that this move was required to restore investor confidence.  Jeff has unparalleled qualifications and a deep and thorough understanding of Enron.  He is already on the job and hard at work on the issues before us.  Andy Fastow will be on a leave of absence from the company.

Jeff had been serving as chairman and CEO of Enron Industrial Markets. He joined Enron in 1994 and spent three years in the London office as chief financial officer for Enron's European operations.  Upon returning to the U.S., Jeff was executive vice president of finance and treasurer for Enron Corp.  In 2000, he was named president and chief operating officer of Enron Net Works.

I know all of you are concerned about the continuing decline in our share price.  I am too, and we are working very hard to turn it around.  Appointing Jeff as CFO is one important step in that process.  But most of the solution involves just continuing to do our jobs with excellence.  The fundamentals of our business are strong, and I think the market will begin to see that as we continue to perform.

Please join me in giving Jeff your full support, and thank you for all of your continued hard work.


Peter,  I have a 1986 Newport 28 and have tried tung oil, lemon oil and
finally Liquid Gold, which gave me the best long term results by far. The
lemon and tung oil looked good for a few weeks, but quickly dulled. Someone
on the Cruising World board suggested Liquid Gold as the longest lasting. It
has been on my interior since August and still looks great. No mildew
anymore either, which can be a challenge here in Florida. Someone else may
have a better option, but so far I am really happy with the results.
----- Original Message -----
From: Peter C. King <pcking@mindspring.com>
To: <newport-list@sailnet.net>
Sent: Monday, December 18, 2000 5:56 PM
Subject: [newport-list] interior oil

> My 86 27s MkII has a wood interior. Is it teak? It needs to be oiled. What
> do I use?
>
> Teak oil? Do the UV polymers make a difference?
>
> Tung oil based furniture treatment?
>
> Linseed oil?
>
> Peter C. King
>
>
>
>
> ---------------------------------------------------------------------
> Safe and easy holiday shopping at The SailNet Store.
> Binary file trailer.tmp matches
> Number of users subscribed to this list 135
> ---------------------------------------------------------------------
>

---------------------------------------------------------------------
Safe and easy holiday shopping at The SailNet Store.
Binary file trailer.tmp matches
Number of users subscribed to this list 135
---------------------------------------------------------------------


Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 03/21/2001 04:19 PM -----

	"Beiser, Megan" <Megan.Beiser@edelman.com>
	03/21/2001 03:42 PM

		 To: "Aaron Thomas (E-mail) (E-mail)" <athomas@newenergy.com>, "Andrea Weller
(E-mail) (E-mail)" <aweller@sel.com>, "andrew Chau (E-mail) (E-mail)"
<anchau@shellus.com>, "Bill Chen (E-mail) (E-mail)" <bchen@newenergy.com>,
"Douglas Oglesby (E-mail) (E-mail)" <doao@chevron.com>, "Fairchild, Tracy"
<tracy.fairchild@edelman.com>, "Jeffrey Hanson (E-mail) (E-mail)"
<jeff.hanson@phaser.com>, "jennifer Chamberlin (E-mail) (E-mail)"
<jnnc@chevron.com>, "john Barthrop (E-mail) (E-mail)"
<jbarthrop@electric.com>, "John Leslie (E-mail) (E-mail)" <jleslie@luce.com>,
"Joseph Alamo (E-mail) (E-mail)" <jalamo@enron.com>, "Manuel, Erica"
<Erica.Manuel@edelman.com>, "'Michael Nelson' (E-mail)"
<mnelson@electric.com>, "Peter Bray (E-mail) (E-mail)" <pbray@newpower.com>,
"Rebecca Schlanert (E-mail) (E-mail)" <rschlanert@electric.com>, "Richard
Counihan (E-mail) (E-mail)" <rick.counihan@greenmountain.com>, "'Robert
Morgan' (E-mail)" <rmorgan@newenergy.com>, "Sue Mara (E-mail) (E-mail)"
<smara@enron.com>, "Allen, Stevan" <stevan.allen@edelman.com>,
arm@phaser.com, "brbarkovich@earthlink.net" <bbarkovich@earthlink.net'>,
cra@calretailers.com, dennis.flatt@kp.org, dhunter@smithandkempton.com,
djsmith@smithandkempton.com, Dominic.DiMare@calchamber.com,
drothrock@cmta.net, gharrison@calstate.edu, hgovenar@govadv.com,
jackson_gualco@gualcogroup.com, ken_pietrelli@ocli.com, kgough@calpine.com,
kmccrea@sablaw.com, kmills@cfbf.com, lhastings@cagrocers.com, mday@gmssr.com,
mmoretti@calhealth.org, nplotkin@tfglobby.com, randy_britt@robinsonsmay.com,
richard.seguin@kp.org, RochmanM@spurr.org, rrichter@calhealth.org,
sgovenar@govadv.com, smccubbi@enron.com, spahnn@hnks.com, theo@ppallc.com,
vincent.stewart@ucop.edu, vjw@ceert.org, "Warner, Jami"
<jami.warner@edelman.com>, wbooth@booth-law.com, wbrown@lhom.com,
wlarson@calstate.edu
		 cc:
		 Subject: FW: Associated Press story: Power spending imperils state's finan
cial health, controller says

> Power spending imperils state's financial health, controller says
>
> Updated: March 21, 2001 - 3:11 p.m.
>
> California's power-buying on behalf of two strapped utilities is gutting
> its budget surplus and putting the state at financial risk, the state
> controller said Wednesday.
>
> The surplus dropped from $8.5 billion in January, when the state began
> buying electricity for Pacific Gas and Electric Co. and Southern
> California Edison, to $3.2 billion now, Kathleen Connell estimates.
>
> Connell ordered an audit of the state's power-buying, saying
> Gov. Gray Davis is withholding key financial information from her office
> and the Legislature.
>
> Wednesday marked the first time in three days the state avoided rolling
> blackouts. Power grid officials credited cooling temperatures and the
> completion of repairs at several power plants.
>
> Connell said the energy crunch now imperils the state's budget as well as
> its electric grid.
>
> California has been spending about $45 million a day --$4.2
> billion so far -- to buy power for Edison and PG&E, both denied credit by
> electricity wholesalers.
>
> The two utilities, California's largest, say they are nearly $14 billion
> in debt due to soaring wholesale power costs the state's deregulation law
> blocks them from recovering from customers.
>
> Meanwhile, the state has faced high natural gas costs and a
> tight power supply driven in part by power plant repairs in
> California and scarce hydroelectric power in the Pacific Northwest.
>
> Standard & Poor's has put the state on a credit watch due to its power
> purchases and chastised Davis, the Legislature and state regulators for
> not taking more aggressive steps to assure the utilities can pay their
> bills.
>
> On Wednesday, Connell said she is refusing a request by Davis and the
> Legislature to transfer $5.6 billion into a "rainy day fund" she said was
> set up to impress Wall Street as the state prepares to issue $10 billion
> in revenue bonds to cover its power-buying.
>
> Transferring the money would leave the state general fund $2.4 billion in
> debt, Connell said.
>
> Sandy Harrison, spokesman for the state Department of Finance, and Keely
> Bosler of the Legislative Analyst's Office, said such transfers are
> routine and required by law.
>
> They put the state's budget surplus at $5.6 billion.
>
> "The law says she has to do it. The law does not give her the power to
> demand that kind of audit information," Harrison said.
>
> He said the state's budget isn't in danger because it will be
> repaid with the $10 billion in long-term debt.
>
> Connell said the scope of the proposed transfer is unprecedented and
> amounts to a "shell game" that disguises the power purchases' impact on
> the state budget.
>
> Wells Fargo & Co. chief economist Sung Won Sohn said he sees little
> progress in efforts to fix the state's power problems and end state
> electricity purchases.
>
> "If we're going to pour money into a bottomless pit, I would
> worry about the state's finances," he said. "At some point we're going to
> run out of money."
>
> The controller's criticism of fellow Democrat Davis won support from
> Assembly Republicans and Secretary of State Bill Jones, a Republican
> considering challenging Davis next year.
>
> Jones said he wants to announce his own plan to solve the
> state's energy woes, but can't unless Davis releases more financial
> details. He said his plan may involve giving the utilities low-interest
> loans with their transmission lines held as collateral.
>
> Davis spokesman Steve Maviglio dismissed the criticism.
>
> "Political grandstanding doesn't generate one more kilowatt of energy for
> California in this time of emergency," he said.
>
> Maviglio said the administration has released the financial
> information it can without jeopardizing negotiations for long-term power
> contracts with wholesalers.
>
> -- Associated Press
>
>
>


For ACA, yes, we have to pay the FERC based on through-put out of the system.  Therefore, we do not discount it; it would be lost revenues.

For the GRI surcharges, it is up to us (Transwestern) whether we discount them or not (not the Shipper's choice).  You are right, Lindy; we only remit to GRI what we collect.
Therefore, we can discount the GRI surcharges all the way to zero.

Let me know if you have any questions.  Jeanette.
 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Tuesday, February 26, 2002 4:55 PM
To:	Centilli, James; Gadd, Eric
Cc:	Doll, Jeanette
Subject:	RE: Sun Devil

This is my understanding too.  We can discount GRI away and we only have to pay the Gas Research Institute what we collect.  We have to pay the ACA, if we discount it away.

One more check would be Jeanette Doll.  Jeanette?

 -----Original Message-----
From: 	Centilli, James
Sent:	Tuesday, February 26, 2002 4:20 PM
To:	Gadd, Eric
Cc:	Donoho, Lindy
Subject:	RE: Sun Devil

The GRI is a voluntary surcharge that the Shipper indicates they want to pay.  We just collect it and pass it on to the Gas Research institute.  The ACA is an Annual Charge Adjustment to recover cost charged to us by FERC.  We typically do not waive or discount this charge.  The other surcharges are due to past settlements and are not applicable to new expansion projects.  These are defined in the Tariff in sections 21 and 23 of the General Terms and Conditions.

Lindy

Did I state this correctly.  Please let Eric and me know if I miss stated anything.

 -----Original Message-----
From: 	Gadd, Eric
Sent:	Tuesday, February 26, 2002 3:57 PM
To:	Centilli, James
Subject:	Sun Devil

James,

On Sun Devil, are we required to collect GRI, ACA, or any other surcharges?  If so, how are they applied?  If not, why?


(See attached file: hpl0801.xls)

 - hpl0801.xls


I'm updating my palm pilot send your info.

cd


P.S. Tom had 509009 and 509010 in under wrong broker - they've been changed.

Evelyn Metoyer@ENRON
01/30/2001 02:04 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 1/30 errors con't

Mike Swerzbin:

ref 508786
Prebon says should be 50 mw not 25

I am missing the following deal per Prebon for Mike:
Enron buys Duke 50 mw of Cal'02 PV at $135.00

TOM ALONSO

Ref 509009 and Ref 509010 Prebon does not recognize.


Here's the latest version.  It looks ok to me.  The most substantive aspect
of it is that Calumet Power (or its affiliate) could end up the indemnity
obligations under the agreement.  (in other words, an entity without a lot of
money to fund indemnity obligations)  In my opinion this isn't important in
the context of the option.

Unless someone objects, I'll tell PERC that Enron is ready to go with the
assignment.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/08/2000 02:02
PM ---------------------------

cindy_wasik@chicago.kirkland.com on 06/08/2000 01:59:02 PM
To: vhedge@winston.com, J.nassos@pecorp.com, j.burns@pecorp.com,
dtauke@winston.com, Kay.mann@enron.com
cc:

Subject: Option Agreement

Attached please find revised blacklined versions of the Assignment of Option
Agreement and Notice of Exercise of Option, incorporating changes from various
parties.

Please contact me with any questions regarding the enclosed.

Greg Spitzer
312-861-2115

(See attached file: EXERCISE OPTION-RED2.WPD)(See attached file: ASSIGNMENT OF
OPTION-RED2.WPD)

******************************************************************************
The information contained in this communication is confidential, may
be attorney-client privileged, may constitute inside information, and is
intended only for the use of the addressee.  It is the property of
Kirkland & Ellis.  Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited and may be
unlawful.  If you have received this communication in error, please
notify us immediately by return e-mail or by e-mail to
postmaster@kirkland.com, and destroy this communication and all
copies thereof, including all attachments.
******************************************************************************

 - EXERCISE OPTION-RED2.WPD
 - ASSIGNMENT OF OPTION-RED2.WPD


Hello!

As you know (all too well!), your job does not offer you all of the
flexibility that you might like.  In an effort to give you a little more free
time, we will start with the following plan.

What's a late day and who gets them?
Each book calc'er will sign up for a  one late day a month.  A late day is
defined as a  one in which you do not come into the office until 3 p.m.

When can I have one?
The late days to sign up for include any day Monday-Friday (excluding bid
week thru 2nd workday).  Only one person can be out with a late day each
day.

Who's my back-up?
When you enjoy your late day, your back-up as defined below is responsible
for your activities until 3 p.m.  If the following back-up schedule needs to
change, let's make that quickly.  If you need additional security access to
back-up someone, then put that request in immediately.  Each of the back-ups
should "swap" jobs for a few days (until 3 p.m. to practice your
responsibilities).

If the back-up plan is successful, then we can potentially expand our
creative work schedule possibilities.  We must prove that it will work,
however, before can take any more steps.

When do we start?
All regions will implement in June. . .Irena will coordinate the calendar
next week.

Let me know what you think!
Carrie


It's at the top of everyone's New Year's Resolution list: Losing Weight.

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Q1) Are you going to be setting up an HPLC-FT-Waha ?

Q2) Roll up issues for positions

Does Tom want this part of the Market Area position - or separate from Market
Area?

Current
CPR  SITARA PORTFOLIO
N/A  Texas Position - Combined Region HLPC-IM HPLC, HPLC-IM Wellhead, HPLR-IM
Texas, ENA - IM Texas
TEXAS  Texas Position - ENA/HPLR  HPLR-IM Texas, ENA - IM Texas
HPLC   Texas Position - ENA - IM Texas ENA - IM Texas
HPLCWELL  Texas Position - HPLC-IM Wellhead HPLC-IM Wellhead
N/A  Texas Position - HPLR-IM Texas HPLR-IM Texas
TEXAS/HPLC Texas Position - Market Area Position HLPC-IM HPLC, HPLR-IM Texas,
ENA - IM Texas

Proposed additions or changes -

WAHA   Texas Position - HPLC-IM Waha  HPLC-IM Waha
TEXASREG Texas Position - Combined Region HLPC-IM HPLC, HPLC-IM Wellhead,
HPLR-IM Texas, ENA - IM Texas, HPLC-IM Waha

Rename TEXAS/HPLC in CPR to TEXASMKT - // need to know if this includes
HPLC-IM Waha - or should this be separate from Market Area

---------------------- Forwarded by Thomas Engel/HOU/ECT on 05/30/2000 12:27
PM ---------------------------

	Enron Capital Management

	From:  David Baumbach                           05/30/2000 11:50 AM

To: Imelda Frayre/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT, Thomas
Engel/HOU/ECT@ECT
cc:
Subject: New Intramonth Book

Please send me all forms/requests that need to be filled out to set up a new
Intramonth book for the Texas Desk.  Also, what do you think the timeline is
for getting the new book set up?

Dave


PLEASE USE THE POSITION MANAGER HOME BUTTON.

When using the SITARA Position Manager,  and you drill down to view details
or change the dates, the Position Manager keeps
all your views running in the background.  This feature allows you to use the
BACK and FORWARD buttons to keep your views running.
On the downside, if you keep these views running but do not really intend to
go BACK to look at them, the system and your PC are working harder
to keep all the old views active and updated.

The HOME button sends you back to your default view - the first view you had
up when you hit apply.  By clicking this button, your
Position Manager will clear out the old views the next time you drill in.
This is the only way to clear out the old views that you no longer need.

 If you do not use the HOME key, and keep drilling in and changing the dates,
the Position Manager is still keeping all the your views for
the day running in the backgound.

What we have found is by the end of the day, a user that does not clear out
the old views can have well over 30 views open, which is like having
30 Position Managers up on your PC.  When that user closes down, the position
gets locked up for a while as it tries to clear out all the old views.

We will be making some changes soon to that should resolve this issue as far
as the SITARA machine is concerned; however, your PC may still be
slow with excessive unneccessary views open.   We could make a change to
limit the number of active views you can have open, but at this time
I am not sure that is necessary; regardless, in the mean time, please
remember to use your HOME button.

Other helpful hints -

Did you know you can shrink you tool bar?  Tools options - uncheck show tool
bar text labels -

Did you know you can split your position screen to have pipes on top and
zones and meters below? Tools Options - show drill down second panel -

If you have an OMICRON POSITION porfolio - your MIN/MAX button shows you
ACTUAL - and MIN/MAX for your day swing deals.
Same works for NOM FLEX portfolio.


- Inv Alliance MF Survey of SMarcos.pdf


We wouldn't.  I'll talk with Kim.

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Monday, October 15, 2001 11:20 AM
To:	McCarty, Danny
Subject:	FW: Southern Trails letter of interest

Why would we be buying this as TW?

 -----Original Message-----
From: 	McConnell, Mark
Sent:	Monday, October 15, 2001 10:58 AM
To:	Geaccone, Tracy; Hayslett, Rod; Huber, Lee; Kilmer III, Robert; Lokey, Teb; Centilli, James; Abdmoulaie, Mansoor; Gadd, Eric
Cc:	Harris, Steven; Watson, Kimberly
Subject:	Southern Trails letter of interest

Attached is a NON BINDING letter of interest to Questar for their Southern Trail Pipeline - west leg.  This is their crude pipeline that was purchased with the intention of converting it to a natural gas line but apparently, their interests have changed.  The west leg runs from near the California border to Long Beach.

The importance of this non binding bid is to get us into the data room so that we can really take a close look and gather information to see how interested we really are in this pipe.

Please let me know if you have any comments.  This letter has gone through legal and will be faxed to Questar today.

 << File: Southern Trails 10-15-01 initial bid.doc >>

Thanks,

Mark

Mark McConnell
Transwestern Pipeline Company
713-345-7896   office
713-822-4862   cell
713-646-2551   fax
mark.mcconnell@enron.com


Given the emphasis from all quarters on the need for retail competition to
make California work, would seem useful to strike a balance between the
degree to which the comments emphasize wholesale and retail reforms.  And for
the record, Sue, no I don't talk like that.

Best,
Jeff

	Susan J Mara
	11/02/2000 03:50 PM

		 To: Mary Hain/HOU/ECT@ECT
		 cc: Alan Comnes/PDX/ECT@ECT, carrrn@bracepatt.com, Christopher F
Calger/PDX/ECT@ECT, Dave Parquet@ECT, Donna Fulton/Corp/Enron@Enron, James D
Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Joe Hartsoe@Enron, Mona
L Petrochko/NA/Enron@Enron, Sarah Novosel/Corp/Enron@Enron, Tim
Belden/HOU/ECT@ECT
		 Subject: Re: November 9 FERC Comments

Gang,

I didn't get Jim's e-mail but .....  Here are my comments

This looks good as a bottomline message, but I'd like to dress it up and take
it out on a date first (doesn't dasovich talk like this?)

I'm afraid we'll look greedy unless we focus strongly on the RETAIL affect of
the low price cap and how raising it would ultimately allow retail customers
to save money and wholesale markets to work more efficiently.  there is some
stuff we can quote in the iso's market surveillance com report.  we also have
some real world experience to draw upon (i'm told that FERC occasionally
really likes to hear about the real world) -- we had a number of customers on
demand responsiveness plans in the east and we sent them checks for BIG BUCKS
this summer.  To the contrary, in the west, we were working with some
customers (a  few hundred MWs)  to participate in the ISO's program -- after
the Board voted to lower the cap to $250 -- the customers all said sayonara
-- could no longer justify the expense and the interference in their
operations.  These are powerful examples of how price caps influence retail
demand response.

This only goes so far, however...

The FERC could easily eliminate the problem by exempting demand side bids
from the price caps.  SO, we need more...

I think we should focus on the practical effects of a "soft" cap (not simple
and not certain) -- and how stable markets need stable price caps -- "soft"
caps are not a stable price and do not send a stable signal for investment in
new generation (the market may never know the real price since it doesn't set
the MCP). The staff report provides some good evidence on why the caps are
too low and we could also use the ISO's calculation of prices for short-term
peaking capacity.  Then mention the issues Mary discussed below (information;
cap mechanism bad for power marketers in particular)

Sue

	Mary Hain@ECT
	11/02/2000 01:03 PM

		 To: Susan J Mara/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT,
Dave Parquet, Christopher F Calger/PDX/ECT@ECT
		 cc: James D Steffes/NA/Enron@Enron, Joe Hartsoe@Enron, Sarah
Novosel/Corp/Enron@ENRON, carrrn@bracepatt.com, Donna Fulton/Corp/Enron@ENRON
		 Subject: November 9 FERC Comments

In response to Jim's E-mail  - here's is my proposed list of issues for
Enron's November 9 comments.  We have to send our issue list to FERC tomorrow
so please comment on this ASAP.

We should discuss price signals including:
price caps and
market information

Here's my rationale.  Since we'll only have five to ten minutes to talk, our
comments should focus on the most important commercial issues to us: removing
or improving price caps and improving market transparency by providing market
information to market participants.  We could summarize the positions we took
in the white paper about why the Commission shouldn't allow a price cap at
all and why we need information.  In addition, we should assume that they
will adopt price caps anyway and may reaffirm their own proposal, so we
should also tell them how the $150 cap will be too low to incent investment
in new generation, how the reporting requirement will create special problems
for power marketers  (we don't have marginal costs and the Commission has yet
to determine what opportunity costs are), and how they still have not
addressed the problems created by OOM.

In addition, although I don't think we need to tell FERC this, our comments
could briefly congratulate the Commission for removing the buy/sell
requirement, addressing underscheduling of load, creating independent
governance and directing the ISO to file generation interconnection
procedures.  Although our written comments will probably want to discuss any
clarifications of this measures as well as the long term measures the
Commission discussed (reserve requirements, alternate auction mechanisms,
balanced schedules, enhanced market mitigation, congestion management
redesign, demand response programs, RTO development and compliance) our oral
comment time is too precious to use on these issues.  In addition, our
written comments will want to beef up the legal support for the Staff's
conclusion about refunds and perhaps request rehearing of the Commission's
decision to move the refund effective date.  I'm sure we'll find more issues
as we go.


After talking with Kevin P., he said to change the sinks on the firm you want
to TVA.  Joe and I will prepare to address the tariff issue at FERC (pro
forma requires ultimate source and sink) to hopefully get the pro forma
tariff changed.  Several other providers have raised this issue and backed
off from the requirement.

Patrick Hanse
12/20/99 05:14 PM
To: Kevin M Presto/HOU/ECT@ECT
cc: Bill Rust/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, James B
Fallon/HOU/ECT@ECT, Tom Dutta/HOU/ECT@ECT, Christi L Nicolay/HOU/ECT@ECT
Subject: Re: TVA transmission requests

Per out requests on Ameren from CE to TVA, we are confirmed on 50 mw's /
month June-Sept. (With TVA our SINK).  We also have another 150 mw's /month
July-Aug.  w/ CE source, TVA sink, that are in  "STUDY" mode.

	Enron North America Corp.

	From:  Kevin M Presto                           12/20/99 05:02 PM

To: Bill Rust/HOU/ECT@ECT
cc: Rogers Herndon/HOU/ECT@ect, James B Fallon/HOU/ECT@ECT, Patrick
Hanse/HOU/ECT@ECT, Tom Dutta/HOU/ECT@ECT, Christi L Nicolay/HOU/ECT@ECT
Subject: Re: TVA transmission requests

Thanks for the update Bill.

I take issue with TVA's statement regarding denial of firm transmission to
our CA's (Enron CA is the sink).   TVA is correct with their statement
regarding netting of firm transmission (ie, very few transmission providers
net firm transmission).  However, TVA, in the implementation of the NERC
Policy letter, stated that they will make firm transmission available to and
from each control area equal to the capacity capability of the generation and
non-firm transmission availability from our control areas equal to TVA's own
ATC to and from each interconnected control area.

TVA's denial of firm transmission sinking to our control area for the reason
stated in Bill's e-mail is wrong.  Although the majority of our firm
transmission requests utilize the 3 control areas as sources (with POD's of
SOCO, EES, and AMRN), we should not tolerate denials of firm transmission
into our control areas because that is completely inconsistent with the NERC
Policy ruling.

By the way, what is the status of the transmission Terry requested from
Com-Ed to TVA (through Ameren)?  This would be a situation where our control
area would be a sink.  If TVA is, in fact, denying those firm transmission
requests where we are the sink, we need to print out a hard copy of the OASIS
denial and send a letter to NERC and FERC.  After further researching the
facts, Christi could you please work with Bill to draft a letter, if
necessary, to send to NERC.


who is not above 500?

 -----Original Message-----
From: 	Underwood, Thomas
Sent:	Tuesday, November 27, 2001 3:40 PM
To:	Love, Phillip M.
Subject:	RE: OU Stadium Renovation

your too late shit head alredy got this email, at least the sooners are above 500

 -----Original Message-----
From: 	Love, Phillip M.
Sent:	Tuesday, November 27, 2001 3:38 PM
To:	Rabon, Chance; Olney, Matthew; Underwood, Thomas; McLaughlin Jr., Errol
Subject:	FW: OU Stadium Renovation

 -----Original Message-----
From: 	Bass, Eric
Sent:	Tuesday, November 27, 2001 2:45 PM
To:	Lenhart, Matthew; Baumbach, David; Ryder, Patrick; Winfree, O'Neal D.; Love, Phillip M.
Subject:	FW: OU Stadium Renovation

 -----Original Message-----
From: 	Logan III, Jackson
Sent:	Tuesday, November 27, 2001 2:08 PM
To:	Giron, Darron C.; Bass, Eric
Subject:	FW: OU Stadium Renovation

HOOK'EM

 -----Original Message-----
From: 	<cameron.moates@us.pwcglobal.com>@ENRON
Sent:	Tuesday, November 27, 2001 2:02 PM
To:	kyle@nanoscale.com; ryanvford@yahoo.com; Mhansen@MDCP.com; hannam@vankampen.com; megan.m.healy@us.arthurandersen.com; adam.hickey@us.pwcglobal.com; johnpkeeton@yahoo.com; jkorman@worldnet.att.net; jlogan3@enron.com; s.s.parker@us.arthurandersen.com; lprieto@uominc.com; schullerg@hdvest.com; Graham.Sones@cit.com; Brian_Thorp@AIMFUNDS.COM; madeofmetal@sprintmail.com; Jon_Wooton@gmaccm.com; andrew.higdon@us.pwcglobal.com; edgar.a.cardenas@us.pwcglobal.com
Subject:	OU Stadium Renovation

Norman (AP)

Oklahoma University Athletic Director Joe Castiglione announced today that
due to recent developments, the renovations at Owen Field are well ahead of
schedule and will come in under costs. Seems over 71,000 fans shit a brick
during the fourth quarter of the bedlam football game, providing the
necessary materials to begin work right away.

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


thanks - did it last week


What do you think?  I have never been crazy about the Commercial Support tag myself.  Do you like professional services?  Or do you have another suggestion.  Please send me your comments within the next day or so.  I would like to get back to David Oxley soon.  Thanks.  --Sally

 -----Original Message-----
From: 	Oxley, David
Sent:	Friday, June  1, 2001 12:42 PM
To:	Beck, Sally; Colwell, Wes
Cc:	Kean, Steven; Olson, Cindy; Lynch, Drew; Pieper, Kalen; Jones, Robert W.- HR Exec; Barnard, Marla; Joyce, Mary; Smith, Gary; Corteselli, Gina
Subject:	Proposal to Change "Commercial Support" peer group label to "Professional Services"

At the VP PRC meeting last Wednesday, Dave Delainey proposed we consider retitling the Commercial Support peer group as above. Apparently this suggestion was made and broadly supported at a policy committee meeting a few weeks ago. The suggestion is that the Support label is seen rather negatively across the organisation and the new label may be an improvement.

The VP PRC Committee resolved that they would be open to supporting a change, subject to the senior leads from across CS providing their views/support.

I volunteered to circulate this note to the 2 of you in EWS and ask my colleagues from HR to share with their CS leads to solicit their views before returning to the committee late next week with summarised reaction. Perhaps you would provide me with your views and a vote for or against?

I would strongly recommend that we do broadly discuss this outside a small circle of people.

David


Michael,
This is the documentation I received from Goldman Sachs for Futures Account
opening docs.
Thanks Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/01/2001 02:59
PM ---------------------------

"Mordini, Elisa" <elisa.mordini@gs.com> on 04/30/2001 03:49:49 PM
To: "'sheila.glover@enron.com'" <sheila.glover@enron.com>
cc: ficc-nyfutlegal <ficc-nyfutlegal@ny.email.gs.com>, "Wenger, Lynsey"
<lynsey.wenger@gs.com>
Subject: Enron -- Goldman Sachs Futures Documentation

Sheila,

As requested by Lynsey Wenger, attached for your review and use is our
futures documentation (in pdf format).  Booklet I contains the actual
futures account agreement; Booklet II contains disclosures for your review
and retention.

I am providing you with the below checklist to facilitate your efforts in
gathering the appropriate supporting documentation to provide us when
opening a futures account.

  Supporting Documentation to be provided with fully executed
Futures Account Agreement

* IRS Form W-8 or W-9, as applicable, must be fully
completed/executed..

* Documents that authorize the use of futures and establish the
client's existence:

    For the corporation, a certified resolution,
internal investment guidelines and/or operating agreement.

    For a pension - a trust agreement.

* Audited financials.

* Signature authority (generally in the form of a resolution).

Please call me at 212 902-0861 if you have any questions.

 <<BOOK 1 MASTER JANuary 1999 (2).pdf>>  <<BOOK 2 MASTER FEB 2001.pdf>>
<<fw8ben.pdf>>  <<iw8ben.pdf>>  <<fw9.pdf>>

Elisa
~~~~~~~~~~~~~~~~~~~~~~~~
Elisa Mordini
Legal Dept - Futures Services
Goldman, Sachs & Co.
Tel:  (212) 902-0861
Direct Fax: (212) 428-1645
Dept Fax (212) 357-1049
elisa.mordini@gs.com

CONFIDENTIALITY NOTICE:  The information contained in this  message is sent
by an attorney or his/her agent and is intended only for the confidential
use of the above-named recipient.  The information may be protected by
attorney/client privilege or other legal rules.  If the reader of this
message is not the intended recipient or the person responsible for
delivering it to the intended recipient, you are hereby notified that you
have received this communication in error, and that any review,
dissemination, distribution, or copying of this communication is strictly
prohibited.  If you have received this in error, please notify the sender
immediately by telephone at the number set forth above, and destroy this
message.  Thank you.

 - BOOK 1 MASTER JANuary 1999 (2).pdf
 - BOOK 2 MASTER FEB 2001.pdf
 - fw8ben.pdf
 - iw8ben.pdf
 - fw9.pdf


Good Wednesday Morning - Comments From The Local
Guys!

As can be seen below, Lehman is adjusting the earnings estimates for the S&P
500 in the wake of events on September 11th.
See below.

The 30 -year bond yield is 5.50%.
The 10-year is trading at 4.63%.
The 5-year is trading at 3.77%.
Spot crude oil is trading at $22.38 p/b.
Natural Gas - Henry Hub -  is trading at $2.24 p/mcf

IMPACT CALLS

Portfolio Strategy 		Charles Reinhard
Cutting Exp. EPS, Eqty Returns, & Valuation

q The policy response to the savage attack on civilization continues to be
vigorous. A sustained
diplomatic and military campaign against terrorism is coming into place.
Monetary policy has been
aggressive, with more to come. And fiscal policy is swinging into gear.
Still, the United States is
likely to remain in recession for the remainder of 2001. We are thus cutting
our 2001-2002 S&P 500
EPS forecast from $49.25 to $46.50 this year, and from $59.00 to $53.00 next
year. In a riskier world,
we are also assuming lower valuation for the stock market. Accordingly, we
are cutting our forward
one-year S&P 500 price target from 1375 to 1200; the Dow Jones Industrials
equivalent is 10,000.

q Our Economics team is now looking for a shallow U.S. recession for the
second half of this year, with GDP
down roughly 1.5% in the third and fourth quarters. The jobless rate will
rise to 5.3%, we think, as CPI
drops to 1.9%. With the Fed Funds rate at 3%, expect the Federal Reserve to
cut rates to 2.5% at the next
FOMC on October 2. With core CPI at 2.7%, that would take the real Fed Funds
rate below zero.
Historically, the real Fed Funds rate has always gone to at least zero
during profit recessions of the current
magnitude. Whether the Fed will need to do more after October 2 remains to
be seen. That the central
bank will do whatever it needs to do is beyond question. With another drop
in short-term interest rates, the
yield curve should steepen further.

Charter Communications Lara Warner
Downgrade Rating to "3" from "1" 3 - Market Perform / 12.75 (USD)
q We are downgrading Charter to 3 Market Perform, from 1 Strong Buy, and
lowering our 12-month
price target to $17, from $33 previously.
q The company announced yesterday that Jerry Kent, its CEO, would resign
effective September 28, 2001.
q We believe that this event, as well as the potential for additional senior
management departures, increases
execution risk significantly for Charter.
q We have revised our estimates downward to reflect less robust new services
and advertising growth.

Bank of New York	 Henry Chip Dickson
Third Quarter Preview 1 - Strong Buy / 33.70 (USD)
q We believe BK should be one of the companies most leveraged and best
positioned to an
improvement in the economic and market environments because we believe that
improvement will
be preceded by stronger market volumes and greater capital market activity.
We continue to rate
BK 1 - Strong Buy, with a $50 price target.
q Because of the World Trade Center tragedy and the weak market conditions
that existed through the end
of August, we have reduced our 3Q01 EPS estimate to $0.50, which is below
consensus expectations.
We expect consensus expectations to be revised down over the next several
weeks.

Safeway Inc	 Meredith Adler
Going into 3Q w/some uncertainty 1 - Strong Buy / 40.65 (USD)
q Safeway's sales growth is the greatest area of focus, given the sluggish
performance in 2Q01.
Although we expect SWY to beat its 1.0% guidance, it probably will not be by
much.
q Comments by Kroger last week indicate a "hot" competitive environment in
some markets, with Albertson's
attempting to improve its pricing image with consumers. We expect both KR
and SWY to take steps to
protect market share.
q The weak economy is not likely to impact Safeway's sales much, given the
minimal exposure to
discretionary items.
q Safeway is trading at a 2002 P/E of 13.5x, well below historical levels.
The stock has not traded at this low
a P/E since a brief period in 1994. We view Safeway as a vastly better
company than it was at that time.

INITIATING COVERAGE

Tekelec 	Steven D. Levy
It's Time to Take a Look at Tekelec 1- Strong Buy / ($14.37)
q We have been culling through our comprehensive list of publicly traded
communications
technology companies looking for attractive investment opportunities.
q Tekelec is the leading provider of critical network intelligence systems
used by most incumbent carriers
around the globe, and in our research on Tekelec we have found that the
company is likely to be one of
the first to rebound when overall telecommunications spending picks up
again.
q We are initiating coverage of TKLC shares with a 1-Strong Buy rating and a
one year price target of $20.

Bed Bath & Beyond		 Alan M. Rifkin
Stellar 2Q EPS - Still Delivering The Results 2 - Buy / $22.96
q BBBY posted 2Q EPS of $0.18 versus $0.15 last year---a 21% gain, and in
line with our expectation
and original company guidance. We view the gain as impressive considering
the broad-based
slowdown that has impacted most retailers.
q The company posted a strong 21.1% increase in total sales to $713.6MM,
driven by an impressive 4.8%
comp gain, which was ahead our 3% estimate, as BBBY continues to post the
strongest sales gains within
our Specialty Hardlines coverage.
q Management continues to endorse 3Q and 2001 EPS estimates of $0.18 and
$0.72 respectively. We
maintain our Street high 2001 estimate of $0.74.
q BBBY remains one of our top picks, with a history of posting strong sales
and EPS gains irrespective of a
difficult macro economic environment.
q Valuation. BBBY shares trade at 31.0x and 25.2x our 2001 and 2002
estimates of $0.74 and $0.91.

Integrated Oil		 Paul Cheng
Weekly U.S. Crude Oil & Refined Products Inventory Summary /
q Despite the current cloudy outlook, we expect U.S. refined product demand
to hold up reasonably
well, as some of the lost jet fuel consumption should be replaced by
increased gasoline and diesel
demand as consumers opt for alternative means of transportation. We remain
optimistic regarding
the domestic refining market's medium-term outlook, and maintain our
overweight position on the
independent refiner stocks.
q On the surface, last night's inventory report from the American Petroleum
Institute (API) appears extremely
bearish given the outsize stock build in the gasoline market. At a closer
look, the data tells a somewhat
different story given that the huge inventory increase was driven largely by
very high import levels,
specifically, 1 million barrels per day (mmbls/d) over the past week, which
in our opinion is unsustainable.
In addition, we expect next week's implied gasoline demand to trend higher
from this week's dismal level of
approximately 8.4 mmbls/d as consumers gradually return to the road. Thus,
while the increase in
gasoline inventories was substantially larger than expected, we think it is
premature to draw any negative
conclusion. In contrast to the gasoline market, middle distillate stocks
experienced an unexpected decline
due to apparently strong demand, which is an encouraging sign although we
admit it is still too early to
know for sure. Looking ahead, despite the current cloudy outlook, we expect
U.S. refined product demand
to hold up reasonably well, as some of the lost jet fuel consumption should
be replaced by increased
gasoline and diesel demand as consumers opt for alternative means of
transportation.

Bowater Inc		 Peter Ruschmeier
Modest 3Q Shortfall not a Surprise 2 - Buy / (USD)
q Despite a modest 3Q EPS shortfall, we find shares of BOW as increasingly
attractive and
recommend adding to positions on any pullback.
q BOW expects to report a 3Q loss of $0.22 to $0.32 per share which is below
the consensus view but in line
with our expectations.
q BOW now expects to take 120,000 tonnes of newsprint downtime in both 3Q
and 4Q which is greater than
their previous guidance, but not surprising given recent trends.
q The risk to our 2002 estimate of $2.75 per share remains on the downside,
but we continue to believe
Bowater has peak earnings power of more than $10.00 per share.

FirstMerit Corp 		Brock Vandervliet
Compelling Valuation But Our Caution Remains 3 - Market Perform / ($22.00)
q FMER notched up a better than expected second quarter performance and we
have a high level of
confidence in our full year estimates. We remain concerned about the
manufactured housing
exposure. FMER 3 - Market Perform.
q Although we don't expect a large margin boost we would not be surprised by
a modest improvement on the
order of 10 bps which would be FMER's 4th consecutive qtr of margin gains.
Organic loan growth should
run in the high single digit range, which may be blunted by residential loan
sales like last quarter.
q Fee and expense growth which were both solid in Q2 should be marked by
similar performance with low
double digit fee growth offset by mid-single digit expense growth, largely
linked to incentive fees.
q Our perennial concern, particularly in this environment remains credit
quality. NPA's will likely climb
higher putting them above 70 bps with 50-60 bps of NCO's. Due to the
manufactured housing operation,
which is roughly $800mm on balance sheet or just over 10% of total loans, we
believe both NPA's and
NCO's will continue to run above the mid-cap average.

Marshall & Ilsley Jason Goldberg
3Q01 Preview: M&M - Margin & Metavante 2 - Buy / 50.99 (USD)
q We continue to rate MI 2-Buy with a $62 price target.
q We expect MI to report operating EPS of at least $0.92 on October 10.
Reported results will likely contain
several acquisition related charges.
q Third quarter results will contain two months worth of MI's purchase
acquisition of National City Bancorp.
q We expect the quarter to evidence continued net interest margin expansion
and further improvement at
Metavante. We believe 1Q01 marked the bottom for revenues at MVNT.
q Sluggish loan growth could restrain further improvement.
q Asset quality metrics should hang in there, although an uptick in NPAs is
expected.

Wilmington Trust	Brock Vandervliet
Maintaining Est.But Consensus Looks High 3 - Market Perform / $51.30 (USD)
q We remain confident in our WL estimates as they are already conservative
and in the case of 2002,
our estimate is nearly $0.10 below Street consensus. However, the stock
could come under
pressure as others trim their guidance for '02.
q We carry a $0.96 Q3 EPS estimate for Wilmington Trust (WL)-in line with
consensus. WL is expected to
release October 18th. At this point we are maintaining our full year
estimates of $3.79 and $4.10 which
implies 8% EPS growth.
q In spread income we believe there will be some softness in loan demand
largely tied to C&I in the metro-Philadelphia
market. We believe the margin will decline somewhat to around 4.95% or
perhaps slightly
lower.

Countrywide Credit		 Makiko Coakley
2Q Met Raised Est. Raising Our 3Q Est. 2 - Buy / 40.21 (USD)
q CCR reported its fiscal 2Q (ending on 8/31) EPS of $1.20, meeting our
upwardly revised estimate
and beating the consensus by a penny. Its 2Q EPS was up 56% YoY and 20% QoQ.
Its 3Q earnings
should also be strong. We believe CCR should work as a safe stock, and thus,
it should do well
over the short-term especially if the market remains volatile and depressed.
q Most line items in 2Q came in as expected.
q CCR gave guidance for its fiscal 3Q EPS -- $1.20 to $1.25 vs. the
consensus of $1.12. This is based on
mortgage origination volume for the company of $30-$33 bil. in 3Q vs. $33.5
bil. in 2Q and $30.6 bil in 1Q.
We are being conservative and raising our number to $1.20 from $1.09.

Rockwell Automation 		Robert T. Cornell
Rockwell's '01 and '02 Outlook Revised 2 - Buy / (ROK-$13.67)
q Stock could reflect EPS uncertainty for a while
q Rockwell guides 4Q EPS in a $0.05-$0.07 range, and 2001 EPS to $0.91-$0.93
due to downturn in global
industrial automation market.
q Management now expects sales in 4Q01 and 1Q02 to be sequentially off 4%
from previous quarter. 1Q02
EPS to gain modestly over 4Q01.
q Accelerated restructuring could mean additional net cost savings of
approximately $50 million in 2002.
q We are moving our 2001 EPS estimate to 0.93 from $0.95 and 2002 EPS
estimate to $0.75 from $1.10.

RadioShack Corp 		Alan Rifkin
RSH/Blockbuster Tour In Vegas - New Date 1 - Strong Buy / 22.24 (USD)
q Lehman Brothers-Sponsored Trip to Blockbuster Store in Las Vegas Featuring
Newly added
RadioShack Store-Within-a-Store Concept.
q We are pleased to announce that we have rescheduled the Store Tour for
Monday, November 19, 2001, at
11 AM (preceding Lowe's Analyst Meeting), Lehman Brothers will sponsor a
trip for institutional investors
to visit the newly opened "RadioShack Cool Things" store-within-a-store
inside a Blockbuster store.

Time Warner Telecom		 Daniel Zito
Selloff Overdone 1 - Strong Buy / 9.15 (USD)
q Shares at distressed levels, despite funding cushion, interest coverage
and increasingly success
based cap ex. Reiterate 1- Strong Buy.
q Pre-announced 3Q01 revenue of $170-$175M below our street low $184M
estimate primarily driven by
timing of intercarrier compensation collections.
q Our prior $$38M EBITDA estimate is within the company's pre-released
$36-$39M range, demonstrating
the company's cash management skills.
q Lowering our 4Q01 revenue projection 3% to $180M and our 2002 outlook 1%
to $801M. Our EBITDA
projections remain unchanged.
q Share currently trade at 11.7x 2001 EBITDA and a favorable 0.39x on a
growth adjusted basis.

David C. Morris
Sr. VP Lehman Brothers
713-652-7112/800-227-4537
dcmorris@lehman.com

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