http://www.consultrci.com

************************************************************************
Read SCIENTECH's SourceBook Weekly article: "Making the Wires Sing: Some
Utilities Take on Challenges, Opportunities of Being Wirecoms," at:

http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************

===============================================================
SCIENTECH IssueAlert, November 1, 2000
NiSource and Columbia Energy Group Complete Merger
By: Will McNamara, Director, Electric Industry Analysis
===============================================================
NiSource Inc. and Columbia Energy Group received approval for their merger
from the U.S. Securities and Exchange Commission (SEC) and are expected
to close their transaction today. The combined company will continue to
trade on the New York Stock Exchange as NiSource (NYSE: NI). Columbia Energy
Group shares (NYSE: CG) will cease trading before the market opens Nov.
2.

ANALYSIS: It's been a long and rocky road, to say the least, for the $6
billion marriage between these two companies, which reportedly will create
the largest U.S. natural-gas distributor east of the Rocky Mountains. The
union started out as a hostile takeover in June 1999, when NiSource began
making several attempts to purchase all outstanding common shares of Columbia
Energy Group (CEG). All of NiSource's offers were rejected by CEG. In fact,
up until just a year ago, CEG fiercely fought the takeover, claiming that*due
to financial and operational problems*NiSource was not an appropriate marriage
partner. However, after about eight months of offers and rebuffs (with
NiSource offering as much as $74 a share), Columbia Energy Group finally
consented to the $6 billion offer, ironically based on Columbia's February
2000 stock value of $72.60 a share and consequently lower than NiSource's
previous offers.

The merger creates a company that could gain a strong lock on the natural-gas
market in a corridor stretching from Texas to Maine. Merrillville, Ind.-based
NiSource is a holding company (parent company to NIPSCO and Bay State Gas,
among several other distribution companies) with operations in electric,
natural-gas and water distribution in the Midwest and Northeastern United
States. Its generation portfolio includes four coal-fired generating stations,
two hydroelectric generating plants and four gas-fired combustion plants.
NiSource also markets unregulated energy services in key competitive areas.
CEG, based in Herndon, Va., is an energy services company with assets of
approximately $7 billion and ownership of 16,500 miles of interstate gas
pipelines that run from Louisiana to the Northeast. CEG is engaged in nearly
all aspects of the natural-gas business, including exploration and production,
transmission, storage and distribution, as well as propane and petroleum
product sales and electric power generation.

Under the terms of the merger agreement, NiSource is offering 3.04 shares
for each Columbia common share. CEG shareholders can elect to receive New
NiSource stock, or receive a combination of $70 in cash plus $2.60 in
securities.
Just today, NiSource revised its estimate of the number of CEG shares electing
to receive NiSource stock upward to approximately 77 percent from its original
estimate of 60 percent. Regarding current stock performance, NiSource shares
closed $24 15/16 on Oct. 31, not far from a 52-week high of $25 5/8. Shares
of CEG closed at $71 15/16.

Upon completion of the merger, the companies will create a new holding
company (as of yet unnamed) under which NiSource and CEG will become wholly
owned subsidiaries. Together, the companies will serve approximately 3.6
million customers. The companies have identified their post-merger strategy
as growth in "energy supply and distribution, as well as the development
of new energy choices through emergent technologies."

The regulatory approval process for the NiSource / CEG merger went
comparatively
smoothly, finishing just eight months after the formal announcement of
the merger. Yet, the SEC gave its approval to the merger on an important
condition. Under the laws of the Public Utilities Holding Company Act of
1935 (PUHCA), the SEC has required NiSource to divest of IWC Resources,
its water operations subsidiary based in Indianapolis. Under PUHCA, utility
holding companies are required to divest operations that are not integral
to their primary operations. The divestiture must take place within three
years to comply with U.S. legislation, according to NiSource.

Although the merger is small in comparison to recent mega-mergers between
AEP / CSW and PECO / Unicom, this partnership is important. It's not
surprising
that NiSource pursued CEG so diligently, as the acquisition of CEG more
than doubles the size of NiSource and changes it from a predominantly electric
company to a gas transmission and distribution company with electric
operations.
NiSource will own a natural-gas business extending from Chicago to New
England, reportedly placing it as the nation's third-largest natural-gas
company (largest in the West). The completion of the merger comes at an
ideal time for NiSource, just as reports of a shortage in natural-gas supply
indicate that the prices for natural gas will rise significantly this winter
and into next year. As a leading supplier, NiSource will be sitting in
a prime position.

However, the divestiture of IWC Resources is a clear downside to this merger,
at least from NiSource's point of view. Of all the players that have
penetrated
the water industry and then retreated (for example, Enron and Duke), NiSource
was one of the few that stood out as having some success in this heavily
regulated market. In fact, up until recently, NiSource had claimed that
its growth strategy was to build a distribution chain around the core
natural-gas,
electricity and water distribution businesses. More than being a significant
money maker for the company, NiSource's water business provided a steady
cash flow and, perhaps more importantly, access to additional energy
customers.
Water customers as an aggregated group can be very valuable for an energy
company. The company that controls water services has another stable base
of customers to which it can sell electric and gas services. For instance,
NiSource had purchased IWC in part to prevent its competitor, IPALCO
Enterprises,
from obtaining the water customer list in this service territory.

The bottom line of this merger may be that, while other companies are focusing
on building critical mass, the New NiSource is carving out a specific niche
(natural-gas services) in a targeted market (Texas to Northeast). The fact
that it will no longer own IWC Resources may pale in comparison to the
projected growth that the New NiSource may find in the natural-gas business.
Of particular importance to this new company is the ownership of 16,500
miles of interstate gas pipelines gained from CEG. Owning a significant
supply of natural gas in a very tight market may become the real secret
advantage of this merger.
===============================================================
Need to design and implement your IT infrastructure? Learn more about
SCIENTECH's
Information Technology team and what they can do for you at:
http://www.consultrci.com/web/rciweb.nsf/web/Depts-IT.html
===============================================================

SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let
us know if we can help you with in-depth analyses or any other SCIENTECH
information products. If you would like to refer a colleague to receive
our free, daily IssueAlerts, please reply to this email and include their
full name and email address or register directly at:

http://www.consultrci.com/web/infostore.nsf/Products/IssueAlert

Sincerely,

Will McNamara
Director, Electric Industry Analysis
wmcnamara@scientech.com
===============================================================
Feedback regarding SCIENTECH's IssueAlert should be sent to
wmcnamara@scientech.com
===============================================================

SCIENTECH's IssueAlerts are compiled based on independent analysis by
SCIENTECH
consultants.  The opinions expressed in SCIENTECH's IssueAlerts are not
intended to predict financial performance of companies discussed or to
be the basis for investment decisions of any kind.  SCIENTECH's sole purpose
in publishing its IssueAlerts is to offer an independent perspective regarding
the key events occurring in the energy industry, based on its long-standing
reputation as an expert on energy and telecommunications issues.

Copyright 2000.  SCIENTECH, Inc.

If you do not wish to receive any further IssueAlerts from SCIENTECH, please
reply to this message and in the body of the email type "remove."


Hey!!!!!    Is the wedding still on for Sunday?

		IF YES, then, are we invited or do you want to keep it small?

			IF NO, then, hey I understand - I'm not sure what we are going to do either.  She doesn't like the Vega idea.
			IF YES, then, when and where?


Janie:  I prepared a format last week for Allegheny for use until the ISDA
Master Agreement is executed.  Let me know if you have any questions.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 04/11/2001 10:53 AM -----

	Sara Shackleton
	04/05/2001 02:46 PM

		 To: Kimberly Hundl/Corp/Enron@ENRON
		 cc:
		 Subject: Re: Allegheny sample confirmation draft

Kim:  It looks fine, and, you should use this format until the ISDA is
executed.  We spoke with Allegheny this morning and they promise to execute
next week.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

	Kimberly Hundl@ENRON
	04/05/2001 12:45 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Allegheny sample confirmation draft

Hi Sara,
Attached are the changes you requested.  Shall I begin confirming all
Allegheny deals on this form until the ISDA is complete?

Thanks for your help!
Kimberly Hundl x31647

From: Sara Shackleton@ECT on 04/04/2001 06:58 PM
To: Kimberly Hundl/Corp/Enron@ENRON
cc:

Subject: Re: Allegheny sample confirmation draft

Kim:

Attached are my comments.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

	Kimberly Hundl@ENRON
	04/04/2001 10:43 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Melissa Ann Murphy/HOU/ECT@ECT
		 Subject: Allegheny sample confirmation draft

Hi Sara,
Ok, I think I have properly referenced the side letter in this confirmation.
Please let me know what changes should be made.

P.S. I am leaving at noon today, so if I haven't heard from you by then, I
will give you a call tomorrow morning.
Thanks!
Kim x31647


We are in the process of restructuring the EGM Legal Forms Directory so that
our forms and precedents can be available to everyone who works full or
part-time in the group.  The goal is to centralize all forms and precedents
pertaining to each of the commodities and businesses supported by EGM Legal.
A "precedent" would be a document from a deal you have worked on or otherwise
that you think other members of the group should have access to in order to
get ideas for developing other documents and agreements.  Precedents will not
necessarily be converted to forms, and accordingly, would be used without
form reliability.  A "form" would be a document already approved as a form
within Enron Legal or EGM Legal.  We are going to establish a process for
approval of forms, the details of which will be disseminated at a later
time.  In order to facilitate this process, we have set up a special working
folder as indicated below:

A "Drafts" folder for each of the attorneys in our group has been set up in
"O:\Legal\Global Markets\Forms\DRAFTS". We are still working on providing
access to the directory to the Australia and Japan offices. Nony or Martha
will contact David and Jane, respectively, to provide an alternate way to
send the documents from those offices.

Please select the documents that you would like to add to the Forms Directory
for EGM Legal and have your assistant copy these documents into the
respective folder for clean up.  When copying them into the folder, they
should be "saved as" or renamed with "YOUR INITIALS" (e.g., "DRR" for Dan
Rogers, etc.).  This way we will know whom the forms belong to for questions
during the clean up process.  Once finalized, the initials will be dropped
from the document name; howeverthey would be included in the document
footer.  Nony and Martha are available to assist you with this step in the
process.

Please send an e-mail to Martha and Nony with the name and number of files
you have placed into the folder.

So that we can have a good database from which to develop our forms directory
for the benefit of all of us, please complete the above process by Tuesday,
May 15.

Please feel free to contact Martha Braddy, Nony Flores, or me with any
comments/questions you may have. Thank you in advance for your cooperation in
this important effort.

Regards, Alan


Jeff - unless a miracle happens, PG&E is not about to back down from the
quoted interconnect cost. As we discussed in a meeting a month ago, we would
not escalate this issue unless we had given PG&E a graceful way to back out.
We are now at a point where the project is DOA unless we can PG&E to agree to
a few things, such as letting us design and build the interconnection, and
allowing us to review their design criteria and costing method.
None of that will happen without some encouragement.
CSUFresno is ready to blow the lid off through their organization, but we
need to do our part. One of the reasons I sold them on the substation was
their perception of our ability to get things done even if it meant standing
up to the mighty utility.
We have to find a silver bullet in our organization. Do you have any
suggestions? Fresno will make the go/no go decision shortly.

Dirk A.van Ulden
Director, Account and Facility Management
San Ramon District
(925) 543-3879
Fax (925) 543-3550
Dirk_vanUlden@enron.com


We need to include all outstanding transactions.  Thanks.

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

	Rhonda L Denton
	05/25/2001 11:45 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Re: Form of Letter of Credit

Do you want 6/1/01 and forward or do you want to include all of May since
they have not been settled?  Just let me know and I can send you a new
attachment.

   Carol St Clair                05/25/2001 10:56 AM

To: Rhonda L Denton/HOU/ECT@ECT
cc: lemelpe@nu.com
Subject: Re: Form of Letter of Credit

Rhonda:
Does Attachment A to the Select EEI Master need to be updated or is the
version that you sent to me the current version?

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 05/25/2001 10:54 AM -----

	lemelpe@NU.COM
	05/25/2001 10:44 AM

		 To: Carol.St.Clair@enron.com
		 cc: moonevw@selectenergy.com, morisjr@selectenergy.com
		 Subject: Re: Form of Letter of Credit

Carol - I think Valerie Mooney (our credit person) and Ed Sacks are still
discussing some minor fine tuning of the LOC format.  I spoke to Bob Bruce
this morning - we're all set on the language in the Schedule to the ISDA,
and there is a minor credit/billing issue in Paragraph 13 related to the
timing of transfer of interest on collateral that Val will discuss with Ed
as well.  As far as the EEI goes, the only remaining issue that I'm aware
of (aside from finalizing the LOC) is whether we've finished coordinating
the Attachment containing the list of prior transactions.  Sounds like we
may actually get these documents executed early next week.

Phyllis Lemell


Drop the first comma in the first sentence of the third paragraph.  Otherwise
good to go.

	Mark Frevert/ENRON@enronXgate
	Sent by: Nicki Daw/ENRON@enronXgate
	03/16/2001 08:42 AM

		 To: Steven J Kean/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT, David W
Delainey/HOU/EES@EES, Dan Leff/HOU/EES@EES
		 cc: Maureen McVicker/NA/Enron@Enron, Liz M Taylor/HOU/ECT@ECT, Kay
Chapman/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Barbara
Hooks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Keith Dodson/NA/Enron@ENRON, Brian
Stanley/EU/Enron@ENRON
		 Subject: DEnron Engineering and Operational Services - DRAFT Announcement

Please find attached draft announcement for your review and comment.

I would like to release this on Monday (March 19th).

Thanks

Mark


Oops, what a surprise!  When I went to file away my file on the CFTC Form 40,
I noticed I already had a file in the regulatory cabinet where where had
filed the form in 1995 and 1997.  Maybe we have to file these every other
year?


Happy New Year.  We hope your holidays were enjoyable and restful.  For a pleasant start to 2002, please join your Enron colleagues for coffee and donuts this Friday, January 11, from 8:00 - 9:00 a.m. in the lobby of the Enron Building.  We look forward to seeing you there.


Thanks for the meeting today.

A couple of takeaways would be the following:

1.  Stop for a moment and look at where you are today with mid/back office systems and people related to your transaction counts and physical vs. financial.  Remember, volume doesn't matter.  It is how many transactions, how many schedules, how many invoices, etc.  Even plain vanilla deals get a paper confirm and get entered into systems.  Second, where are you going to be in 3 to 5 years and what will it cost to hire and build that machine.  I know you will have more power plants and physical reserves than Enron, but we process massive amounts of transactions that are related to physical flows, assets and positions, including all of EES' resource to load and customers.  We also do significant volumes of options as well as plain vanilla.  Remember, even though EnronOnline shows alot of "vanilla" stuff, our voice transaction counts have gone way up as well and we haven't decreased the amount of highly structured derivatives we have in the system.

2.  What functions are proprietary vs. what is something that you would be willing to let go.  The questions we ask ourselves are if it is core or are we best in class.  If things are not proprietary and you are not the best at it, maybe you should consider outsourcing.

3.  We can get a team from our Calgary office to your E&P purchase any day you want to start reviewing that processing deal.

4.  Maybe we can get 4 guys and hit a baseball game.  Rumor has it we have great seats.

5.  Don't get hung up on the separate entity thing yet.  If it makes sense, it will happen.  Even if there was a separate entity today with security and some of your ownership, if it was processing your transactions, you would have outsourced to it so you still have to go through the outsource or not discussion anyway so you might as well do it first.

I thought it went real well.  You guys asked all the right questions and are clearly thinking about where to go.

Tell the family hello and call me when you get back week after next.

GP
COO Enron Net Works
713-853-6635


Been pretty busy these last couple of weeks.

Couple of weeks ago I had to go to Los Angeles on short notice.  Accordingly,
paid full price and got in first class.  It must have been a new plane
because the first class section was huge.  I sat in a chair that was like a
lazy boy chair-it had a fott recline and everything.  Also had my own pop up
TV and could watch  my choice of 4 movies.  It was truly awesome.  Can't
believe what  a small world it is. Went to lobby to get somebreakfast and
Patrick Brown was there-ended up having breakfast with him and some ohter
Sempra folks.Then I had to go to Vegas a couple of weeks ago.  Stayed at the
new Alladin Hotel.  They upgraded me to a suite.  Another great experience.
Bathroom was huge.  Big marble shower and  a  big tub that overlooked the
skyline.  Bedroom area and sitting area were nice too.  Shame I was only
there one night.

Last week was Gas Fair.  Lots of lunches and dinners. There are a lot of new
restaurants downtown that we tried out.  Yum-yum. The weather was perfect.
.  Cheri and I went to the spa and had a relaxing afternoon on the last day.
She looks great.  She said you saw her picture of Matthew. He's a cutie.
Parks was a t dinner one night-he hasn't changed-still nice as ever.  Had a
lot of fun with Frank Fields too- he hasn't changed a bit .David Livingston
was there.  He works for Cinergy but is doing east coast stuff-thank God.
Our retail group  just hired Joe Deschamps and Chris Shireman-remember them?
I bet Joe won't be there by the end of the year-I think he just wanted
someone to pay for his way back to Houston.  Just found out that Bob Shiring
went to work for Pan Canadian doing east coast stuff.

Joe's brother was in town this week-end from Montana.  He picked him up in
San Antonio so we had them all week-end .  Went down to Kemah to watch the
boats- we went there with Griff that one time.  Boy has it changed.  Tons
more stuff to do -especially for the kids.

I'm just sick over my tax bill this year.  I exercised a ton of my
options-and boy am I paying for it.  I was planning on  maybe paying $25000
but I am having to pay $47000.  Will probably be that way next year too.
Just sucks that the government takes so much.  I know I'm probably not
getting much sympathy from you but I can try.

Can't believe there was another shooting in your area last week.  Bet you are
glad your kids are almost out of school.  Can't understand how these kids
have access to all of these guns.  It's scary.

Deb and I had lunch with Julia.   She's gone from Enron now.  She did not
give us any more details about her marriage other than she got married out of
town and in am place that made it difficult to track marriage l icense.  Her
family still does not know she is married.  She is being really strange about
this whole thing. She qwon't acknowledge to anyone that she is married.  I've
given up on her.  She is almost as strange as you at times.  Luckily I have
not given up on you .

Going to Grand Cayman Islands on Thursday-plan on feeding the stingrays on
Friday-will tell you all about it.

Tell me why you are too busy to fill me in on what is happenign in your life.


Sheila,

I'm sorry I haven't responded to this before, but Sally has been out of the
office with family illness & I haven't been able to check with her.  I will
be out of the office until Tuesday, so if you need this information before
then, please call Chantelle Villanueva at ext.36279 on Monday and she can
check with Sally then.

Thanks,
Patti


Thanks!  That will take care of everything.  Sorry we have not told you this
before.

   Kate Symes                04/03/2001 11:45 AM

To: Melissa Ann Murphy/HOU/ECT@ECT
cc:
Subject: Re: 563928.01

This was a futures contract done by Matt Motley, and I entered the forward
deal. I wasn't aware that futures deals don't get confirmed. I only knew that
when the contract expires, I need to enter a forward deal in EnPower to hold
the trader's position. It looks like you've already added a comment about the
trade going physical off of the NYMEX. Is there anything else you'd like me
to add? If not, I'll just make a note in the comments section of forward
deals entered in place of expiring futures contracts, and I'll mark "no
confirm" on these deals as well.

Thanks,
Kate

Melissa Ann Murphy
04/03/2001 09:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 563928.01

Hello, 563928 is a deal that went physical off of the NYMEX.  I am not sure
who entered the trade but if we could get you all to put a comment saying the
trade went physical off of the NYMEX that would help us alot.  We do not
confirm these trades.  We sent a confirm out to the counterparty for this
trade and referenced the incorrect contract.

Thanks for your help,
Melissa


These flows are due to the timing of the meter change.  So, I have adjusted Sitara to cover the 4th and 7th.  Let me know if you have any questions.

D

 -----Original Message-----
From: 	Herrera, Katherine
Sent:	Tuesday, May 08, 2001 4:39 PM
To:	Daren J Farmer/HOU/ECT@ENRON
Cc:	Cotten, Robert; Pattison, Jennifer
Subject:	Tenaska Marketing Ventures - 04/01 prod

Sale
Deal # 714540

Daren-
Looks like the meter statement is showing some gas was pulled on days April 04 & 07  that was not priced or pathed.
Please let me know what price Tenaska should be billed for these two days.

Thanks- Katherine
5-8643

<Embedded Picture (Device Independent Bitmap)>
<Embedded Picture (Device Independent Bitmap)>


Being a true blue American, I support expansion.  If you get a free minute,
can you give me a call to discuss.  My short answer is--no problem, looks
good.


Bruce this memo is dealing with the merits of litigation v arbitration to
resolve DPC's DSU claim for the first set of rotor problems. Recall that we
tried to negotiate a settlement with insurers for some time and then UI
served DPC with a notice of arbitration because of the threat of a bad faith
claim.  I think I summarized it earlier for you, but essentially we now have
the choice of pursuing litigation in London against insurers since United
India has now sued us in London Court (in addition to arbitration because
they figured out a little late that under the policy, only quantum may be
arbitrated and they don't want to admit liability).  Our option before was
only to sue them in India which really isn't an option which is why we agreed
to arbitration.  Basically UI can't decide what it wants to do, but this memo
from Linklaters sets forth DPC's options which Justin, Ken Blades and  I
discussed regarding the pros and cons of litigation v arbitration.  It's a
complex mess and I'll be glad to sit down and explain it to you  (or not),
but we are basically writing to UI's counsel to try and determine what their
position is and then we'll decide whether to litigate or arbitrate.  Part of
this relates to the adjuster's agreement with Ken as to the quantum owed upon
a determination of liability.  This is all very strange, but nothing
regarding India or DPC surprises me anymore.  We'll talk about it when you
have time, but I just want you to know I'm taking care of this--let me know
how involved you want to be (or not...).
Just FYI,
mb
---------------------- Forwarded by Michelle Blaine/ENRON_DEVELOPMENT on
01/03/2000 05:22 PM ---------------------------

"Williams, Justin" <justin.williams@linklaters.com> on 12/29/2000 10:31:14 AM
To: "'Ken.Blades@enron.com'" <Ken.Blades@enron.com>,
"'Michelle.Blaine@enron.com'" <Michelle.Blaine@enron.com>
cc: "Cornell, Peter" <peter.cornell@linklaters.com>

Subject: United India - strictly confidential and privileged

 <<001229_Dispute with United India.doc>>  <<001229 Beachcrofts.doc>>

Ken and Michelle,

As agreed, please find attached a draft paper setting out "headlines" of the
pros and cons of litigating liability. I also attach a draft letter to
Beachcrofts.

Please note I shall not be in the office on 2 January.

Justin

____________________________________________________________

This message is confidential. It may also be privileged or
otherwise protected by work product immunity or other legal
rules. If you have received it by mistake please let us know
by reply and then delete it from your system; you should not
copy the message or disclose its contents to anyone.
____________________________________________________________

 - 001229_Dispute with United India.doc
 - 001229 Beachcrofts.doc


----- Original Message -----
From: Mike Callicrate
To: News
Sent: Monday, September 17, 2001 7:58 AM
Subject: Editorial: The Afghan people had nothing to do with this  atrocity.
The following commentary (forwarded by Yates Hafner) is by Tamim Ansary, a
writer and columnist in San Francisco, who comes from  Afghanistan:
I've been hearing a lot of talk about "bombing  Afghanistan back to the Stone
Age."  Ronn Owens, on KGO Talk Radio  today, allowed that this would mean
killing innocent people, people who had  nothing to do with this atrocity, but
"we're at war, we have to accept  collateral damage.  What else can we do?"
Minutes later I heard  some TV pundit discussing whether we "have the belly to
do what must be  done."
And I thought about the issues being raised especially hard  because I am from
Afghanistan, and even though I've lived here for 35  years.  I've never lost
track of what's going on there.  So I want  to tell anyone who will listen how
it all looks from where I'm  standing.
I speak as one who hates the Taliban and Osama Bin Laden.   There is no doubt
in my mind that these people were responsible for the  atrocity in New York.
I agree that something must be done about those  monsters.
But the Taliban and Ben Laden are not Afghanistan.   They're not even the
government of Afghanistan.  The Taliban are a cult  of ignorant psychotics who
took over Afghanistan in 1997.  Bin Laden is  a political criminal with a
plan.  When you think Taliban, think  Nazis.  When you think Bin Laden,think
Hitler.  And when you think  "the people of Afghanistan" think "the Jews in
the concentration  camps."
It's not only that the Afghan people had nothing to do with this  atrocity.
They were the first victims of the perpetrators.  They  would exult if someone
would come in there, take out the Taliban and clear  out the rats' nest of
international thugs holed up in their  country.
Some say, why don't the Afghans rise up and overthrow the  Taliban?The answer
is, they're starved, exhausted, hurt, incapacitated,  suffering.A few years
ago, the United Nations estimated that there are  500,000 disabled orphans in
Afghanistan--a country with no economy, no  food.  There are millions of
widows.  And the Taliban has been  burying these widows alive in mass graves.
The soil is littered with  land mines, the farms were all destroyed by the
Soviets.  These are a  few of the reasons why the Afghan people have not
overthrown the  Taliban.
We come now to the question of bombing Afghanistan back to the  Stone Age.
Trouble is, that's been done.  The Soviets took care  of it already.  Make the
Afghans suffer?  They're already  suffering.  Level their houses?  Done. Turn
their schools into  piles of rubble?  Done.  Eradicate their hospitals?  Done.
Destroy their infrastructure?  Cut them off from medicine and health  care?
Too late.  Someone already did all that.
New bombs  would only stir the rubble of earlier bombs.  Would they at least
get  the Taliban?  Not likely.  In today's Afghanistan, only the Taliban  eat;
only they have the means to move around.  They'd slip away  and hide.  Maybe
the bombs would get some of those disabled  orphans;  they don't move too
fast, they don't even have  wheelchairs.  But flying over Kabul and dropping
bombs wouldn't really  be a strike against the criminals who did this horrific
thing.   Actually it would only be making common cause with the Taliban--by
raping  once again the people they've been raping all this time
So what else is  there?  What can be done, then?  Let me now speak with true
fear  and trembling.  The only way to get Bin Laden is to go in there with
ground troops.  When people speak of "having the belly to do what needs  to be
done" they're thinking in terms of having the belly to kill as many as
needed.  Having the belly to overcome any moral qualms about killing  innocent
people.  Let's pull our heads out of the sand.  What's  actually on the table
is Americans dying.  And not just because some  Americans would die fighting
their way through Afghanistan to Bin Laden's  hideout.  It's much bigger than
that, folks.  Because to get any  troops to Afghanistan, we'd have to go
through Pakistan.  Would they  let us?  Not likely.  The conquest of Pakistan
would have to be  first.  Will other Muslim nations just stand by?  You see
where  I'm going.  We're flirting with a world war between Islam and the  West.
And guess what:  That's Bin Laden's program.  That's  exactly what he wants.
That's why he did this.  Read his speeches  and statements.  It's all right
there.  He really believes Islam  would beat the west.  It might seem
ridiculous, but he figures if he  can polarize the world into Islam and the
West, he's got a billion  soldiers.  If the West wreaks a holocaust in those
lands, that's a  billion people with nothing left to lose--that's even better
from Bin  Laden's point of view. He's probably wrong;  in the end the West
would  win, whatever that would mean, but the war would last for years and
millions  would die, not just theirs but ours.  Who has the belly for that?
Bin Laden does.  Anyone else?
Tamim Ansary


FYI
---------------------- Forwarded by Gavin Dillingham/ENRON_DEVELOPMENT on
08/28/2000 08:05 AM ---------------------------

Steven.J.Kean@enron.com@enron.com on 08/28/2000 07:36:46 AM
To: Gavin.Dillingham@enron.com
cc:

Subject: fyi

Please send to the distribution list
---------------------- Forwarded by Steven J Kean/NA/Enron on 08/28/2000
07:36 AM ---------------------------

From: Cindy Derecskey on 08/25/2000 04:01 PM

To:   Steven J Kean/NA/Enron@Enron, James D Steffes/HOU/EES@EES, Richard
      Shapiro/HOU/EES@EES
cc:

Subject:  fyi

----- Forwarded by Cindy Derecskey/Corp/Enron on 08/25/2000 04:00 PM -----

"Martin, Kim" <martinki@fleishman.com> on 08/25/2000 03:51:17 PM

To:   "'mark.palmer@enron.com'" <mark.palmer@enron.com>
cc:

Subject:  fyi

Didn't know if you saw this column in today's LA Times, but he makes some
good arguments...

>         JAMES FLANIGAN: Simple Steps May Ease Self-Inflicted
> Electricity Woes
>         Los Angeles Times -- August 25, 2000  [Return to Headlines]
>
>
>            Publication Date: Friday August 25, 2000
>            Page C-1
>            Los Angeles Times (Home Edition)
>            Copyright 2000 / The Times Mirror Company
>            By JAMES FLANIGAN
>
>         Let's be clear, the fact that the state botched the job of
> deregulation to begin with is one reason California's electricity market
> is such a mess.
>
>         But failure to build a single new power plant in the state
> even as California's economy expanded its use of electricity is the basic
> cause of today's shortages and soaring prices in San Diego, Orange County
> and other areas.
>
>         Still, some simple steps can be taken by regulators,
> legislators and Gov. Gray Davis to provide immediate relief.
>
>         The state's major utilities should be free to buy power
> wherever they can get it. They should not have to buy exclusively from
the
> Power Exchange, the Pasadena-based power pool that was set up by the 1998
> deregulation to achieve auction-based prices for roughly 80% of the
> state's electricity.
>
>         Approval should be expedited for adding smaller generating
> plants that supply power at times of peak demand. That could alleviate a
> tight supply-demand situation over the next year or two while larger
> plants are built.
>
>         Long term, the state needs to speed up the approval process
> for building new electricity plants. The state also should force
utilities
> to invest in the still-regulated system of power transmission lines,
which
> now has weaknesses in the San Diego and San Francisco areas.
>
>         Perhaps the most glaring fact about California's electricity
> problem is how few companies have stepped up to supply power to this
> enormous market, the nation's biggest. Only 15 or so suppliers, including
> federal agencies, the state's own utilities, municipal companies and
> private generating firms, supply power to California's system.
>
>         By contrast, Pennsylvania, which has an electricity market
> less than 12% the size of California's, has 130 separate suppliers of
> electricity today, reports John Quain, chairman of that state's Public
> Utility Commission.
>
>         It's no coincidence that Pennsylvania has seen monthly
> electric bills drop 3% on average since deregulation. "It's worked out
> terrifically," Quain says.
>
>         What did California do wrong? It allowed the state's major
> utilities--Pacific Gas & Electric, Southern California Edison and San
> Diego Gas & Electric--to recover 100% of their unrecovered or "stranded"
> costs for nuclear and hydroelectric plants and for past power purchase
> schemes mandated by the California legislature to encourage alternative
> sources of energy.
>
>         Then California's legislators told the utilities to sell
> their conventional power plants to private generating companies, all of
> which would sell their power to a central Power Exchange.
>
>         The California scheme was flawed, at once over-regulated and
> yet commercially clueless in not foreseeing trouble from a single power
> pool fed by only a handful of suppliers.
>
>         How did Pennsylvania do it? It allowed the state's utilities
> to recover no more than 67% of their stranded costs for nuclear
> plants--reasoning that company shareholders should accept some of the
risk
> of their investments. And rather than set up a central power exchange,
the
> state allowed its utilities and newcomers to the state's electric system
> to compete for business.
>
>         Competition, after all, is what deregulation is supposed to
> encourage. And competition is not happening in California.
>
>         It should be noted that the summer is relatively cool in the
> East this year and extraordinarily hot throughout the West. All the
> Western states are suffering electricity problems. That's another reason
> for California's trouble.
>
>         Normally, 28% of California's electricity comes from U.S.
> and Canadian government systems and from utilities in Oregon and
> Washington, Nevada and Arizona. But this year, because of lower
> hydroelectric supplies and higher demand from booming economies in those
> other states, power for California is in shorter supply and more
expensive
> when the state can get it. Now there are accusations that some suppliers
> to California have taken advantage of their market leverage to extract
> premium prices for power.
>
>         There's nothing illegal in angling for a better price or in
> using futures markets and other trading techniques, as some generators
may
> have done. If any stepped over the line to illegal collusion, federal and
> other investigations will determine the facts.
>
>         But who gave the generators the market leverage to exploit
> us? The California regulators, legislators and utilities did. Told to
sell
> their generating plants in 1998, the utilities sold dozens of plants in
> package deals of two and three to single buyers. They received premium
> prices from buyers such as AES Corp., Duke Energy, Southern Co. Reliant
> Energy, Dynegy and NRG. The premiums were paid for the market leverage
> that multiple plants afforded the buyers.
>
>         Nobody in the utilities reckoned that they were handing
> market leverage to potential commercial adversaries. Nobody in the
> Legislature or the regulatory staffs reckoned that the central Power
> Exchange could be held up by market leverage.
>
>         As outsiders often say about Californians: "Maybe it's the
> sunshine makes them slow."
>
>         (END)
>
>         05:23 EDT August 25, 2000
>         Copyright , 2000 Times Mirror Company
>
>
>
>


fyi - let's discuss when we talk.

 -----Original Message-----
From: 	Miller, Stephanie
Sent:	Wednesday, January 02, 2002 9:56 AM
To:	McMichael Jr., Ed
Subject:	FW: Outstanding Invoices Related to Transwestern Pipeline Capacity Release Acquisitions from Citizens Communications Company
Importance:	High

Can you please forward to the proper attorney - I'm not sure who that is.

Thanks
 -----Original Message-----
From: 	Brown, Elizabeth
Sent:	Monday, December 17, 2001 2:46 PM
To:	Miller, Stephanie; Foster, Chris H.
Cc:	'EHamlin@czn.com'
Subject:	Outstanding Invoices Related to Transwestern Pipeline Capacity Release Acquisitions from Citizens Communications Company
Importance:	High

Stephanie/Chris,

Please see the attached letter notifying Enron North America Corp. of outstanding transportation invoice amounts payable to Transwestern Pipeline Company for capacity acquired from Citizens Communications Company for November 2001, which were due on December 14, 2001.  Feel free to contact me at (713) 853-6928 if you have any questions related to these transactions.

Regards,
Elizabeth Brown


ok, but can't do anything until jan. rick


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 01/25/2000
01:22 PM ---------------------------

	From:  Michelle Neville                           01/25/2000 01:04 PM

To: Alicia Jones/HOU/ECT@ECT, Paula Pierre/HOU/ECT@ECT, Cassandra
Moses/HOU/ECT@ECT, Rhonda Robinson/HOU/ECT@ECT, amelia_hinton@valic.com,
danaa@corbettstaff.com, Judy Hernandez/HOU/ECT@ECT, Sandra R
McNichols/HOU/ECT@ECT, Paul Ramirez/HR/Corp/Enron@ENRON
cc:
Subject: Fwd: So Very True...

---------------------- Forwarded by Michelle Neville/HOU/ECT on 01/25/2000
01:00 PM ---------------------------

Jessica Anaya
01/25/2000 08:47 AM
To: Leslie Linares/Corp/Enron@ENRON, Claudia Meraz/HOU/ECT@ECT, Etelvina
Guerra/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michelle Neville/HOU/ECT@ECT,
Angela Barnett/HOU/ECT@ECT, sbellard@hotmail.com
cc:
Subject: Fwd: So Very True...

---------------------- Forwarded by Jessica Anaya/HOU/ECT on 01/25/2000 08:46
AM ---------------------------

Helen Martinez <helenmar1980@yahoo.com> on 01/24/2000 09:01:56 PM
To: Jessica Anaya/HOU/ECT@ECT, Monica Anaya <madaa@swbell.net>, Yanett Anaya
<Yanett2121@hotmail.com>, Keziah Apura <kweenpobby@aol.com>, Carmen Cantu
<ccantu_79@yahoo.com>
cc:
Subject: Fwd: So Very True...

Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Talk to your friends online with Yahoo! Messenger.
http://im.yahoo.com

X-Apparently-To: helenmar1980@yahoo.com via mdd202.mail.yahoo.com
X-Track2: 2
X-Track: -50
Received: from law-f256.hotmail.com (HELO hotmail.com) (209.185.130.172)  by
mta121.mail.yahoo.com with SMTP; 24 Jan 2000 23:26:45 -0000
Received: (qmail 33988 invoked by uid 0); 24 Jan 2000 23:26:43 -0000
Message-ID: <20000124232643.33987.qmail@hotmail.com>
Received: from 152.163.197.74 by www.hotmail.com with HTTP;
 Mon, 24 Jan 2000
15:26:43 PST
X-Originating-IP: [152.163.197.74]
From: "Rios Belinda" <b_line78@hotmail.com>
To: lmsol@aol.com, mmederes@yahoo.com, bryan.snoddy@scott.af.mil,
neh21@alltel.net, shelbeekay@aol.com, arreliz@aol.com,  helenmar1980@yahoo.com
Subject: Fwd: So Very True...
Date: Mon, 24 Jan 2000 15:26:43 PST
Mime-Version: 1.0
Content-Type: text/plain; format=flowed
Content-Length: 4268

>From: "Beverly Wehmeyer" <BWehmeyer@gpsolaw.com>
>To: <ALeon57383@aol.com>,<Lybw1@aol.com>,
><melly4260@aol.com>,<Jennifer.Diaz@cna.com>, <b_line78@hotmail.com>
>Subject: So Very True...
>Date: Mon, 24 Jan 2000 17:14:46 -0600
>
> >> Subject:     So very true. Everyone must read this. It's beautiful
> >>
> >> Happiness......
> >>
> >> We convince ourselves that life will be better after we get married,
>have
>
> >> a
> >> baby, then another. Then we're frustrated that the kids aren't old
>enough
>
> >> and we'll be more content when they are. After that, we're frustrated
>that
>
> >> we have teenagers to deal with. We'll certainly be happy when they're
>out
>
> >> of
> >> that stage.
> >>
> >> We tell ourselves that our life will be complete when our spouse gets
>his
>
> >> or
> >> her act together, when we get a nicer car, are able to go on a nice
> >> vacation,  when we retire.
> >>
> >> The truth is, there's no better time to be happy than right now. If not
> >> now,
> >> when?
> >>
> >> Your life will always be filled with challenges. It's best to admit
>this
>
> >> to
> >> yourself and decide to be happy anyway.
> >>
> >> One of my favorite quotes comes from Alfred D. Souza.  He said, "For a
> >> long
> >> time it had seemed to me that life was about to begin - real life. But
> >> there
> >> was
> >> always some obstacle in the way, something to be gotten through first,
> >> some
> >> unfinished business, time still to be served, or a debt to be paid.
> >>
> >>
> >> Then life would begin.  At last it dawned on me that these obstacles
>were
>
> >> my
> >> life."
> >>
> >> This perspective has helped me to see that there is no way to
>happiness.
>
> >> Happiness is the way.  So, treasure every moment that you have and
> >> treasure
> >> it more because you shared it with someone special, special enough to
> >> spend
> >> your time with...and remember that time waits for no one.
> >>
> >>
> >> So, stop waiting until you finish school, until you go back to school,
> >> until
> >> you lose ten pounds, until you gain ten pounds, until you have kids,
>until
>
> >> your kids leave the house, until you start work, until you retire,
>until
>
> >> you
> >> get married, until you get divorced, until Friday night, until Sunday
> >> morning, until you get a new car or home, until your car or home is
>paid
>
> >> off, until spring, until summer, until fall, until winter, until you're
> >> off
> >> welfare, until the first or fifteenth, until your song comes on, until
> >> you've had a drink, until you've sobered up, until you die, until
>you're
>
> >> born again to decide that there is no better time than right now to be
> >> happy.
> >>
> >> Happiness is a journey, not a destination.
> >>
> >> Thought for the day:
> >> Work like you don't need money,
> >> Love like you've never been hurt,
> >> And dance like no one's watching.
> >>
> >>
> >> An Angel To Watch over You
> >> Some people  come into our lives  and quickly go..
> >> Some people  become  friends  and stay a while.. leaving beautiful
> >> footprints on our  hearts and we are never quite the same because we
>have
>
> >> made a good friend!!
> >>
> >>
> >> Yesterday is history.
> >> Tomorrow a mystery.
> >> Today is a gift.
> >> That's why it's called the present!
> >>
> >> I think this is special.....
> >> live and savor every moment.....
> >> this is not a dress rehearsal!
> >>
> >>
> >>   (\           /)
> >>   ( \  __  / )
> >>    ( \ (  ) / )
> >>    (( /<>\ ))           TAKE THIS LITTLE ANGEL
> >>    ( / \/\/  \ )           AND KEEP HER CLOSE TO
> >>      (       )             YOU SHE IS YOUR GUARDIAN
> >>      (       )             ANGEL SENT TO WATCH
> >>      (       )             OVER YOU~~~~~~
> >>
> >>
> >> THIS IS A SPECIAL GUARDIAN ANGEL... YOU MUST PASS THIS ON TO 5 PEOPLE
> >> WITHIN
> >> THE HOUR OF RECEIVING HER..AFTER YOU DO MAKE A WISH....IF YOU HAVE
>PASSED
>
> >> HER ON, YOUR WISH WILL BE  GRANTED AND SHE'LL WATCH OVER YOU
>FOREVER....IF
>
> >> NOT..HER TEARS  WILL FLOW AND NO WISHES WILL BE GRANTED....
> >>
> >> Now don't delete this message,because it comes from a very special
>angel.
>

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


----- Forwarded by Jeff Dasovich/NA/Enron on 04/27/2001 05:51 PM -----

	Robert C Williams/ENRON@enronXgate
	04/27/2001 04:15 PM

		 To: Mike D Smith/HOU/EES@EES, awu@quinnemanuel.com@SMTP@enronXgate,
kb@quinnemanuel.com@SMTP@enronXgate, Dennis Benevides/HOU/EES@EES, Tom
Riley/Western Region/The Bentley Company@Exchange, Jeff
Dasovich/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Evan
Hughes/HOU/EES@EES, mday@gmssr.com@SMTP@enronXgate
		 cc: Debbie Ramey/ENRON@enronXgate, Robert C Williams/ENRON@enronXgate, Vicki
Sharp/HOU/EES@EES, Marty Sunde/HOU/EES@EES
		 Subject: Conference Call

A conference call has been scheduled for 9:00 PST/11:00 CST Saturday, April
28 to prepare for  the UC/CSU oral argument on Monday.  The call-in number is
1-800-991-9019.  The passcode is 6387431#.  I expect that the call will last
approximately 1-2 hours.  If you have any problems getting into the call,
please call me on my cell phone at 281-414-0364.  Thanks.


New Corporate Public Affairs Directory 2002-Available in December 2001

Columbia Books is pleased to announce that the 2002 edition of the National Directory of Corporate Public Affairs will be available in a few short weeks. This new edition is fully updated with over 1700 companies and contains contact information (including address, phone and fax numbers, and email addresses) for over 15,000 corporate public affairs executives.  This directory is a must-have for those interested in networking, fact-finding and coalition building within the public affairs community.

To order, go to www.columbiabooks.com or call 1-888-265-0600.

National Directory of Corporate Public Affairs 2002
Provides contact information for 15,000 corporate public affairs executives, as well as information on corporate giving programs, foundations, investor relations and PACs.

ISBN:   1-880873-48-6
Publication Date: December, 2001
Price: $149 (includes shipping for U.S. orders)

Public Affairs Council members are eligible for a 20% discount on the National Directory of Corporate Public Affairs.  Call 1-888-265-0600 for details.


----- Forwarded by Steven J Kean/NA/Enron on 10/31/2000 07:30 AM -----

	Kelly Kimberly@ENRON COMMUNICATIONS
	Sent by: Stacy Walker@ENRON COMMUNICATIONS
	10/30/2000 04:55 PM

		 To: Steven J Kean/NA/Enron@ENRON, Frank Smith/Corp/Enron@ENRON, Michael
Terraso/OTS/Enron@Enron, Henry Van/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Shafer/OTS/Enron@Enron, Susan Worthen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Mary Schoen/NA/Enron@ENRON, Stacey Bolton/NA/Enron@Enron, Lauren
Goldblatt/NY/ECT@ECT
		 cc: Maureen McVicker/NA/Enron@ENRON, Laura Glenn/OTS/Enron@ENRON, Mary
Berg/Corp/Enron@ENRON, Laura Glenn/OTS/Enron@ENRON, Carol
Barcus/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Citizens' Environmental Coalition - 2000 Synergy Awards ceremony

I am pleased to advise you that Enron will be one of the sponsors of the 2000
Synergy Awards, an annual event organized by the Citizens' Environmental
Coalition.  The Synergy Awards are given "in recognition of progress,
achievement, hard work and/or resourceful stewardship in a broad spectrum of
environmental endeavors."

The sponsorship will allow Enron 8 seats at the awards ceremony, which will
be the evening of Wednesday, November 8, at the Main Street Theater at
Chelsea Market.  They are describing it as "lighthearted and informal,
featuring comedians from Houston's Radio Music Theater."

Are you or any members of your team are interested in attending?  If so,
please respond to Stacy Walker at x3-3583.

Thanks, Kelly


The attached bulletin from Merrill has some interesting comments on the
California situation as it relates to the utilities.


Let O'Neal know if you will be in or out so that we can get some fillers.
PL

 -----Original Message-----
From: 	Winfree, O'Neal D.
Sent:	Friday, January 11, 2002 12:23 PM
To:	Love, Phillip M.
Subject:	Phil Let me know if this is ok

Gentlemen,

What:   		Let's play poker...

Where: 		The land of Pears

When:		Thursday, January 17th -- between 7-8 pm

Directions:	No key map so here goes

		288 South (please find 288 from Downtown)

		Exit McHard/Shadow Creek (hint: it's the first exit after the Beltway 8)

		Take a left onto McHard and proceed to the end of McHard

		There will be a Conoco at the first Stop sign, the next stop sign will say Country Place

		Proceed to the third stop Sign and take a left to The Lakes of Country Place

		Go to the Gurard's gate... You will visit 406 Starleaf

		Go thru the gate and Take a left on River Birch drive

		Starleaf will be the 3rd street on the right...

		My house is the 5th house on the left (in the cul de sac)...

		address 406 Starleaf	Pearland, Tx 77584
		phone: 713.436.2992	cell: 832.372.8000

O


??????? The undergraduate members of TKE would like to invite our alumni down
to the Teke house for the Oregon State Civil War basketball game.? The game
is on March 10, at 7:05 PM.? Please reply to this message if you want to
attend.

??????? ??????? ??????? ??????? ??????? ??????? ??????? YITB,
??????? ??????? ??????? ??????? ??????? ??????? ??????? ??????? Tyson??


Randy Pais has send me an agreement to review.  Thank you for the
introduction.  We will provide the highest level of legal service to
Enron.  Hopefully, the Company is now on the way back from the market
treatment it has received.  Take care.

Paul A. Lester, Esq.
201 Alhambra Circle
Suite 601
Coral Gables, Florida  33134
Phone: 305-357-1001 ext. 227
Direct:  305-357-5541
Fax:     305-357-1002
Email:  paul@flsdlaw.com


We need to have all the links and the spreadsheets updated by the 3rd workday
of December (12/5).

D

Aimee Lannou   11/20/2000 11:02 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Dec 00

Daren - I need to get with you to find out when things (Industrials)  need to
get in to the system for December.  Since this is a weird month, I thought
things might have to be in sooner.  Let me know.

Aimee


Edmund,

You are the only person I have now not heard from.  When can I expect to get
your response?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/19/2000 09:37 AM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           04/11/2000 04:54 PM

To: Edmund Cooper/LON/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc:
Subject: Need Information for Audit

I have not received any feedback from Edmund or David regarding the email
below.  Can you please respond as I am getting daily prompts for a response.
MUCH THANKS!

For Matt, your email stated that you trade over the IPE & NYMEX.  What rules,
besides the rules of those two exchanges, might apply to any on or off
exchange trades you might enter into.  For instance, here in the U.S. energy
commodity trades might be governed by the CFTC, where out equity options
might be governed by the SEC.  Besides the exchanges your email reflected,
what other governmental rules or regulations would govern trades you might
enter into?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/11/2000 04:44 PM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           03/23/2000 11:12 AM

To: Edmund Cooper/LON/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Need Information for Audit

In connection with an internal audit regarding the safekeeping of margin
funds and securities, Enron Corp. has asked us to provide them with a list of
all the exchanges we trade on, what rules govern those exchanges and the
products we trade on them (in particular the clearing arrangements), and any
rules that govern brokers we may maintain funds or cash with.  This should
include all the products we may trade/hedge over an exchange including energy
commodities, interest rates, currencies, equities, etc.

Can you please provide this information no later than Friday of next week.
Much thanks!


What's up with Laine and the incompetence routine?


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/11/2000
03:49 PM ---------------------------

Amber Ebow
02/11/2000 03:27 PM
To: Anthony Campos/HOU/ECT, jchadwick-joshua@worldnet.att.net,
angiec81@aol.com, smchadwic@yahoo.com, theresachadwick@hotmail.com,
bdouglas@sfasu.edu, larry_johnson@dci-ltd.com,
lee_johnson_@notes.seagate.com, kincadam@aol.com, mlittle@aol.com,
gmatth@coair.com, pell-shell@aol.com, mjpierson@netzero.com,
fwells@ascap.com, Kim Washington <washington@camdenprop.com>
cc: kechadwi@TexasChildrensHospital.org, rjackson@admin4.hsc.uth.tmc.edu,
sjohnson@urbanjustice.org, smorgan@pmigroup.com, carlao@bellsouth.net,
lyric_mase@hotmail.com, "Bowden, Neinka S" <nbowden@bcm.tmc.edu>, "Angela
Washington" <a-washington1@ti.com>, Shundea
Thrower<shundea.thrower@wcom.com>, Michelle Neville/HOU/ECT@ECT, Regina
Blackshear/Corp/Enron@ENRON, Judy Hernandez/HOU/ECT@ECT, Shyril L
Scott/HOU/ECT@ECT, Albert Escamilla/HOU/ECT@ECT
Subject: Powerful!!!!

---------------------- Forwarded by Amber Ebow/HOU/ECT on 02/11/2000 03:23 PM
---------------------------

Julissa Marron@ENRON
02/11/2000 03:21 PM
To: Marilyn Rivera/HOU/ECT@ECT, Patrick Marron
<Patrick.Marron@aspentech.com>, Tiffany La Dang
<tiffany@eubanks-architects.com>, "Linda Stevens" <lstevens@wt.net>, Faye
Ellis/HOU/ECT@ECT, Marvia Jefferson/HOU/ECT@ECT, Amber Ebow/HOU/ECT@ECT,
Stacey Barclay/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Lynette
Malone/HOU/ECT@ECT
cc:
Subject: Powerful!!!!

---------------------- Forwarded by Julissa Marron/Corp/Enron on 02/11/2000
03:19 PM ---------------------------

Subject: Powerful!!!!

 - ATT00032.jpg


Just a reminder about Tori's baby shower next Thursday (May 19 @2:30).  If
you would like me to shop for you (at Babysrus), just let me know or you can
donate to a pool of money and I will pick out some items.

cc:
Subject: You're Invited


I have a question about how this deal is entered.  It is a 24 hour deal
against an index.  Shouldn't it be split out and priced against the
individual on peak, off peak and Sunday index?

Thanks!


Man I hear you.  I have faith in Stoops but I am a little worried.  On the other hand, our offense certainly hasn't dominated anyone this year.  It is a question of what to go with; productive with mistakes or less productive and fewer mistakes.

 -----Original Message-----
From: 	McCarroll, Zachary
Sent:	Tuesday, October 16, 2001 12:26 PM
To:	McConnell, Mark
Subject:	QB controversy?

Be careful with this...I think you saw what can happen last year with us.

http://www.espn.go.com/ncf/news/2001/1015/1264519.html


Julie:  the price should be $3.54.  Thanks.


Why do I need to do this?  Should you discuss with Mary Kay?

 -----Original Message-----
From: 	Miller, Mary Kay
Sent:	Tuesday, September 18, 2001 2:44 PM
To:	Geaccone, Tracy
Cc:	Gilbert, Steve
Subject:	Tw CE and 2002 Plan

Tracy,  could you please send me the info for TW Commercial for the 3rd CE and also the TW 2002 plan detail.  Please send me any updates as they occur also.  I'm receiving the detailed info from Steve Gilbert, but he doesn't always have the TW info, so it would be easier if you just sent it directly to me.   Please call if any questions.   thanks   Mary Kay


Blanca,
 I believe that you will need to get this form approved by the legal group in
Columbus before it is signed.  It is my understanding that Pemex has agreed
to New York law in the past.  I would not approve it unless they agreed to
New York law and arbitration conducted in English.  If you need a quick
turnaround, please check with Gary Prescott.

	bdaugherty@aep.com
	06/13/2001 09:27 AM

		 To: <Dan.J.Hyvl@enron.com>
		 cc:
		 Subject:

As we discussed, attached is the subject agreement. ?Thanks for your help.

Blanca
(See attached file: Pemex Confidentiality Agt..doc)
 - Pemex Confidentiality Agt..doc


Management Committee Meeting
Date:		Monday, October 29
Time:		11:00 a.m. (Central)
Location:	50th Floor Boardroom
Video:		Connections will be established with remote locations upon request.
Conf. Call:	Please contact me for dial-in number and passcode.

Please indicate if you plan to attend this meeting and through what medium.

_____	I will attend in person
_____	Via video conference
_____	Via conference call
_____	I will not attend

Please return this e-mail to me with your response.

Thanks,
Joannie
3-1769


Thanks Mary, I'm having some folks look into the matter.  Scott

>>> <Mary.Hain@enron.com> 01/30/01 05:38PM >>>
At your request, here's a write-up of our problems with the ISO.

Issue 1 - Concerning the intertie going North out of California into the
Northwest (NW) at the California Oregon Border (COB), since about the 24th
of January, the ISO has started telling market participants that the
available transmission capacity, which is usually 2300 MW, is zero.  Last
Friday, this caused prices to increase at the Mid-Columbia (NW trading hub)
by about $50-75, costing the NW wholesale market an estimated $2-5 million
per day.  This transmission capacity is within the ISO's control and,
because capacity is available, the ISO's actions seem to violate Order No.
888.  I also wonder what would happen if another control area decided they
were going to take similar action.  This hurts Enron financially because we
own FTRs and if there is no congestion, we don't get paid anything.  This
is like "economic" force majeure.  The reason the ISO is listing zero ATC
is that they're in a Stage 3 Emergency and they're not offering sufficient
price/credit terms to get the power they need.  California obviously thinks
its power needs are more important than the NW's.

Issue 2 - We have transmission we are purchasing from some California munis
using transmission facilities that are not part of the Cal ISO.  The ISO
advised today that they are thinking about cutting exports from California.
We are concerned that the ISO will cut our transaction even though it uses
transmission assets and rights that are not under the ISO's control.  If
our deal were cut, it could cost us $20,000 to $100,000 per hour (we have a
125 MW deal and spreads now are $125 and they would likely blow out more if
exports were cut).   We hesitate to call the ISO and ask if they are going
to cut us because we are afraid we might suggest something that they
haven't thought of.

I'd be happy to answer any questions.  I'm at (503) 464-8862.


Kay & Carlos:

Per John Keffer's instructions, attached please find preliminary drafts of
the following documents:

> 1. Closing Checklist;
2. Escrow Agreement;
> 5. Guaranty Agreement;
> 6. Escrow Disbursement Instructions;
> 7. Promissory Note by LLC payable to ENA; and
> 8. Consents of Members and Managers.
>
> Regards,
>
> Marisa
>
>  <<2XPB02!.DOC>>  <<2X_202!.DOC>>  <<2xq#03!.DOC>>  <<2XNL02!.DOC>>
> <<2XQD01!.DOC>>  <<2xrn02!.DOC>>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2XPB02!.DOC
 - 2X_202!.DOC
 - 2xq#03!.DOC
 - 2XNL02!.DOC
 - 2XQD01!.DOC
 - 2xrn02!.DOC


Jeff,

FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/07/2000
03:22 PM ---------------------------

FAP <FAP@management.wharton.upenn.edu> on 12/07/2000 02:19:49 PM
To: Clay DeGiacinto <clayton.degiacinto.wg02@wharton.upenn.edu>, Deepa Mallik
<mallikd@wharton.upenn.edu>, Dennis Feerick
<Dennis.Feerick.wg02@wharton.upenn.edu>, Edson Otani
<edsono@wharton.upenn.edu>, Gustavo Palazzi <gustavop@wharton.upenn.edu>,
"Heather N. Thorne (E-mail)" <hethorne@wharton.upenn.edu>, Jack Rejtman
<Jack.Rejtman.wg02@wharton.upenn.edu>, Jaideep Singh
<singhjai@wharton.upenn.edu>, Jason Cummins
<Marc.Cummins.wg02@wharton.upenn.edu>, Joshua Leventhal
<levent86@wharton.upenn.edu>, Kim Whitsel <whitselk@wharton.upenn.edu>,
"LOUIS A THOMAS (E-mail)" <thomas@wharton.upenn.edu>, Murat Camoglu
<camoglum@wharton.upenn.edu>, Nick Levitt
<Nicholas.Levitt.wg02@wharton.upenn.edu>, Omar Bassel
<bassalo@wharton.upenn.edu>, Pat Henahan <mhenahan@wharton.upenn.edu>, Ram
Vittal <mvittal@wharton.upenn.edu>, Steve Lessar
<Stephen.Lessar.wg02@wharton.upenn.edu>, Tulika Bhalla
<bhallat@wharton.upenn.edu>, Vincent Chen
<Vincent.Chen.wg02@wharton.upenn.edu>
cc: Weigelt <Weigelt@wharton.upenn.edu>, FAP
<FAP@management.wharton.upenn.edu>, "'christie.patrick@enron.com'"
<christie.patrick@enron.com>, "'vkamins@enron.com'" <vkamins@enron.com>
Subject: Enron Contact info

Dear Vince, Christie and Vasant:

Thank you for the presentation to the Enron Tiger Team.  It was most
informative and well received by the students. This is an exciting project
and the students are enthusuastic and anxious to begin.  Many thanks, also,
for hosting the dinner at the Palladium.  It was a wonderful opportunity to
get to know more about the project, as well the Enron representatives and
the students.

Listed below is the contact information with team contacts identified.
I will send you the teams project preferences as soon as I recieve them from
all the students.

It may be a good idea to contact the students before they leave for vacation
(15-22 Dec) to see who is interested in a trip to Houston in January for
planning purposes.  They will return to campus Jan. 16.

Please let me know if there is anything I can do to assist from this end.

Again, thank you for your support of the Wharton School and of the Tiger
Team Project 2001.

Sincerely,
Donna Piazze
Program Director
Field Application Project
The Wharton School
Univ. of Pennsylvania
(215) 573-8394
(215) 573-5727 fax
fap@management.wharton.upenn.edu
piazze@wharton.upenn.edu

Enron 1  Vincent Chen     Vincent.Chen.wg02@wharton.upenn.edu
Enron 1  Nick Levitt
Nicholas.Levitt.wg02@wharton.upenn.edu
Enron 1  Deepa Mallik     mallikd@wharton.upenn.edu
Enron 1  Jack Rejtman     Jack.Rejtman.wg02@wharton.upenn.edu
Enron 1  Kim Whitsel      whitselk@wharton.upenn.edu
***Team Contact
Enron 1           Tulika Bhalla    bhallat@wharton.upenn.edu

Enron 2  Jaideep Singh singhjai@wharton.upenn.edu
Enron 2  Edson Otani       edsono@wharton.upenn.edu
Enron 2  Joshua Leventhal levent86@wharton.upenn.edu
***Team contact
Enron 2  Pat Henahan       mhenahan@wharton.upenn.edu
Enron 2  Murat Camoglu Camoglum@wharton.upenn.edu
Enron 2  Gustavo Palazzi gustavop@wharton.upenn.edu

Enron 3  Clay DeGiacinto
clayton.degiacinto.wg02@wharton.upenn.edu
Enron 3  Steve Lessar
Stephen.Lessar.wg02@wharton.upenn.edu
Enron 3  Ram Vittal       mvittal@wharton.upenn.edu
***Team Contact
Enron 3  Jason Cummins Marc.Cummins.wg02@wharton.upenn.edu
Enron 3  Omar Bassel       bassalo@wharton.upenn.edu
Enron 3  Dennis Feerick
Dennis.Feerick.wg02@wharton.upenn.edu

Professors: Louis Thomas  thomas@wharton.upenn.edu
            Keith Weigelt  weigelt@wharton.upenn.edu
TA: Heather Thorne hethorne@wharton.upenn.edu
FAP: Donna Piazze  piazze@wharton.upenn.edu

Host contacts:
Vince Kaminski  vkamins@enron.com
Christie Patick  christie.patrick@enron.com


Banner Outside:  Enron North America

Continental Breakfast

Morning Break - Refresh coffee and drinks

Lunch - 11:30 - Manager's Deli Plate (Make your own sandwich)

2:30 - Afternoon Break - Cookies and Soft Drinks

**Mark will return to office for 3:00 p.m. meeting with Delainey/Lavorato


We have become increasingly concerned about confidential information
(dpr/position info, curves, validations/stress tests, etc) being passed to
Arthur Andersen for audit purposes over the Web to their Arthur Andersen
email addresses. (necessary now they no longer have access to Enron's
internal email system)

Please use the folder described below when passing any info (that you would
have concerns about if it was picked up by a third party) via the shared
drive that has been set up for this specific purpose.

Note:  AA should also use the shared drive to pass info back if there are
questions, or the data needs updating.  We should also consider the
sensitivity of audit findings and special presentations if they are being
distributed electronically.

Please pass this note to others in your groups who have the need to pass info
back and forth.

Details on how to access for those who will use this method to pass info:

A secured folder has been set up on the "o" drive under Corporate called
Arthur_Andersen (O:\Corporate\Arthur_Anderson).  Please post all confidential
files in this folder rather than emailing the files to their company email
address.  If you need access to this folder, submit an eRequest through the
IT Central site: http://itcentral.enron.com/Data/Services/SecurityRequests/.
Arthur Andersen will be able to retrieve these files for review with their
terminal server access at the Three Allen Center location.

Please contact Vanessa Schulte if you have any problems or questions

Beth Apollo


Bill - I will file it electronically and yes, FERC actually sends (3) receipts or confirmations.  I'll send them to you also.

ann

 -----Original Message-----
From: 	Rapp, Bill
Sent:	Wednesday, November 21, 2001 11:00 AM
To:	Smith, Ann
Cc:	Porter, Gregory J.; 'sstojic@gbmdc.com'
Subject:	TW Filing

Ann,

	Attached is the final, ready-to-file Answer of Transwestern Pipeline Company to Protests. I believe we have confirmed that this can be filed electronically today. If this is not the case, please let Steve and me know so that we can have it filed manually. Also, will we receive any confirmation of receipt of the electronic filing from FERC? Thanks.

 << File: RP97-288 AnswerindD.doc >>


FYI
Thanks
Gary

> -----Original Message-----
> From: Fergus, Gary S.
> Sent: Tuesday, May 08, 2001 1:37 PM
> To: Andy Pickens (E-mail); Barrett H. Reasoner (E-mail); David J. Noonan
> (E-mail); Jean Frizzell (E-mail); Michael L. Kirby (E-mail); Michael
> Molland; Mike D. Smith (E-mail); Peter Meringolo; Richard B. Sanders Esq.
> (E-mail); Robert C. Williams (E-mail); Susan Bisop (E-mail)
> Subject: FW: Summary Outline of our ongoing preservation discussions
> Importance: High
>
> FYI
> Thanks
> Gary
>
> -----Original Message-----
> From: Fergus, Gary S.
> Sent: Wednesday, December 20, 2000 2:41 PM
> To: 'Richard Rochman (E-mail)'
> Subject: Summary Outline of our ongoing preservation discussions
> Importance: High
>
> Rich,
>  As promised, here is my summary outline of what we discussed
> regarding preservation of data:
>
> 1. In Portland, we proposed to handle business email related to the
> topics in your preservation letter by instructing employees not to delete
> any email sent or received for 24 hours.  Email that is personal and does
> not relate to the business topics you have identified can be kept,
> discarded etc. at the employee's pleasure.  Each day there is a backup
> made that will capture the email in those employees mailboxes.  After 24
> hours, each employee is free to manage their email box as they deem
> appropriate to the business needs (e.g. keep, discard).  From our
> conversation, I understand that you agree that this is an acceptable
> procedure.
>
> 2. With respect to the hard drives on individual computers, you would
> like to get an organizational chart for Portland that would enable us to
> discuss 6-12 individual's computers that would be copied using ProQuest
> Drive Image Pro 4.0.  In addition, there may be some other individuals
> that you would like to have us use a software product called Robocopy to
> copy files from their hard drives onto the network.  Until we figure out
> which computers to copy etc. we will not begin this process.  We discussed
> that because of the holiday period, it may not be practical to get this
> started until after the new year.
>
> 3. Outside of Portland, we have proposed making a snapshot backup along
> business function lines reasonably called for by the subject matter of
> your request.  We propose not to backup any other business units or
> functions.  On a going forward basis, those business functions that
> related to the subject matter of your request would be instructed not to
> delete business email.
>
> 4. We believe that relevant database  backups have been and will
> continue to be made and preserved.
>
> 5. When an employee runs out of hard disk space on their computer, it
> is an acceptable practice to copy files form their hard disk to the
> network (where they will be backed up) and then delete those copied files
> to make sufficient work space for the employee to work.
>
> 6. For EES, I explained that their IT services are outsourced so we do
> not have as detailed information immediately available.
>
> As I mentioned on the phone, all of these discussions and efforts being
> made are done without waiving any objections that any of the Enron
> entities may have to your request including scope, burden, jurisdiction,
> relevance, privilege, privacy, vagueness etc. and Enron specifically
> reserves each and every right and objection it or its employees may have.
>
> Please let me know if your general understanding of our conversation is
> different than the above.
>
> Thanks
> Gary

=======================================================
This email message is for the sole use of the intended recipient(s) and may
contain confidential and privileged information. Any unauthorized review,
use, disclosure or distribution is prohibited. If you are not the intended
recipient, please contact the sender by reply email and destroy all copies of
the original message.

To reply to our email administrator directly, send an email to
postmaster@brobeck.com
BROBECK PHLEGER & HARRISON LLP
http://www.brobeck.com


Mark,
 I have made the changes noted in the fax which you sent to Jeff.  If the
contract is acceptable, please print off 2 originals and have them signed and
forward to Jeff for signature by ENA.  Once the contract is finally executed,
Jeff will return one fully executed original to you for your files.

-


This is Daren.  Who are you?

"Sarah Vargas" <sarah_m_vargas@hotmail.com> on 04/04/2000 02:09:00 PM
To: dfarmer@enron.com
cc:
Subject: Test to dfarmer@enron.com

Doug:

Please let me know if you receive this e-mail, by replying to it.  This is a
test to:
dfarmer@enron.com

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


Goodell, Scott says:
can Ingrid set me up an interview with the salt lake city group before she goes on maternity leave?   How about during gas fair?
Germany, Chris says:
Good point.  I'll ask
Germany, Chris says:
Hey, we will go if you do


Shirley,

I think it's a growing problem of junk mail
that is being sent indiscriminately to everybody.

Sometimes it comes from legitimate institutions,
sometimes it represents scams. I got a message today
about diamonds in Sierra Leone.

Vince

Shirley Crenshaw
01/02/2001 08:16 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Market

Vince:

Do you know who this is?  I have been getting this, but don't know why or
who he is.

Does it sound reputable?

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 01/02/2001
08:09 AM ---------------------------

"Newton, Jeremy C (SUGARCREEK XGH 317)" <JCNewton@pclient.ml.com> on
12/29/2000 01:40:02 PM
To: "'shirley.crenshaw@enron.com'" <shirley.crenshaw@enron.com>
cc:
Subject: Market

12/28/00
The markets finally took a breather, as the light volume seemed to indicate
the tax loss season was mostly over, and investors were enjoying their
holidays and trying to forget a bad year for the markets. The week was
pretty god, with perhaps some last minute tax selling on Friday. It will be
interesting to see how next week fares.

I think tech will continue to suffer through the first half of the year. The
earnings are not likely to improve until sometime in the second half. At
that point, year to year comparisons will be more favorable. There will be
some successes, as so many have been beaten down too far. Energy looks
strong right now, but I would be cautious as we get past the winter and the
gas price comes down to a more reasonable level.

Merrill Lynch now predicts fed cuts of 100 basis points by the end of the
summer. These cuts will create a strong emotional push to the market, even
in the face of lower earnings. Merrill Lynch is also predicting a GDP growth
of 2.9%, down from the previous forecast of 3.3%. This certainly would
qualify as a "rough" if not "hard" landing. They expect the GDP growth in
the second half of 2001 to rise at a 3.5%-4% rate. They predict the
strongest earnings to come from Health and Energy at about 14%, with Tech
and Utilities at 10%.

Some of the market weakness and economy concern could stem from the
statements being made by the new Bush administration. They want to be sure
the public is aware of the slowing economy, so the issue will be seen as one
they inherited, not created. They don't want to be seen as the ones who
messed up the great boom. They also want justification for the tax cut plan
they had proposed, and a weaker economy is certainly a good reason to
stimulate the economy with cuts.

There are a number of tax law changes for 2001. The new capital gains rates
for investments held over five years begins- the new rates are 8% and 18%
versus 10% & 20%. The deductible interest on student loans rises from $2000
to $2500. The rate for auto business miles is rising from 32.5 cents/mile to
34.5. The expense deduction for business equipment in the first year rises
from $20k to $24k. The exemption on unearned in come for children has been
raised to $750, from $700. The second $750 in income is taxed at the child's
rate, up from $700. So now there is $1500 of preferential taxation for kids
under 14, up from $1400. For kids 14 and older, they now have $750 tax-free.
On the negative side, social security taxes will be assessed on the first
$80,400 of income, up from $76,200 this year.

Upcoming Splits
January 17 Idec Pharm IDPH 3 for 1

FOMC Schedule
January 20-21
March 20
May 15
Upcoming Seminars
January 10 in Rm. 5C2

Thanks & Regards
Mike Lee       Jeremy
Newton
Merrill Lynch        Merrill
Lynch
281-243-9337       281243-9328
Mike_Lee@ml.com      Jeremy_Newton@ml.com

Past Performance is no guarantee of future results
shirley.crenshaw@enron.com
 Investment Risk Rating: A = Low, B = Average, C =Above Average, D
=High
Investment Opinion: First Number = Intermediate Term (0-12 months)
Appreciation Potential
Second Number = Long Term (More than a year) Appreciation Potential
(Recommendations are: 1=Buy; 2=Accumulate; 3=Neutral; 4=Reduce; 5=Sell; 6=No
Rating)
Third Number = Income Rating -Expected dividend in relation to current
payment.
(Ratings are: 7=Same/Higher; 8=Same/Lower; 9=No Cash Dividend Paid)
Consensus Recommendation 1=Buy, 3=Hold, 5=Sell (1.5 or less coded GREEN,2 or
more RED)
Additional Color Coding PE over 50 is coded RED
PEG of 1.4 or less is coded GREEN. PEG of 2.5 or greater is coded RED.
If the stock is under it's 50 day avg, it is coded Green. If it is more than
20% over, it is coded RED.
Earnings upgrade are coded GREEN, Earnings downgrades are RED.
If all columns GREEN or BLACK, Company Name will be GREEN.
Past Performance is no guarantee of future results
____________________________________________________________

CAUTION: Electronic mail sent through the Internet is not secure and could
be intercepted by a third party.  For your protection, avoid sending
identifying information, such as account, Social Security or card numbers to
us or others.  Further, do not send time-sensitive, action-oriented
messages, such as transaction orders, fund transfer instructions, or check
stop payments, as it is our policy not to accept such items electronicall


Christi, I was unable to open the file can you please send a hard copy.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/25/2000
10:29 AM ---------------------------

	From:  Christi L Nicolay                           09/25/2000 09:16 AM

To: David W Delainey/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Ozzie
Pagan/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Dennis
Benevides/HOU/EES@EES, Raymond Bowen/HOU/ECT@ECT
cc: James D Steffes/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@Enron, Steven J Kean/NA/Enron@Enron
Subject: EPMI protests AEP's continuation of MBRs

On 9/21, EPMI filed a protest (Below) against AEP/CSW's 3 year update request
to continue market based rates for power marketing.  The filing includes
examples of discriminatory behavior on OASIS (for ATCs, etc.) that
potentially benefitted AEP's marketing side.

EPMI has already protested Entergy's request for continuation of MBRs earlier
this year, and plans to protest other large utility-based power marketer MBR
filings this fall.  Let me know if you would like the list.  Thanks.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 09/25/2000
08:58 AM ---------------------------

"Susan Buchheit" <sbuchheit@bracepatt.com> on 09/25/2000 09:05:19 AM
To: <christi.l.nicolay@enron.com>
cc:

Subject: AEP filing

** High Priority **

Christi -

Attached is the final filing in word.  I also sent you a hard copy on Friday.

 - aep.doc


Here is the Japanese repsonse which also contains our inquiry.
---------------------- Forwarded by Mark Taylor/HOU/ECT on 05/08/2000 10:32
AM ---------------------------

Yasuyoshi.Goto@BAKERNET.com on 03/14/2000 01:23:57 PM
To: Mark.Taylor@enron.com
cc: Alan.Aronowitz@enron.com, Paul.TYO.Davis@BakerNet.com
Subject: RE: EnronOnline in Japan

Dear Mark:

I refer to you e-mail of March 3 sent to my partner, Paul Davis.  I am in
charge
of our Information Technology/E-Commerce Dept.  Please accept my apology for
not
having responded earlier.

Please see our comments below.

Should you have any questions, please let us know.

Best regards,
Yasuyoshi Goto

> -----Original Message-----
> From: Mark Taylor [mailto:Mark.Taylor@enron.com]
> Sent: Friday, March 03, 2000 9:17 AM
> To: Paul.TYO.Davis@BakerNet.com
> Cc: Alan Aronowitz
> Subject: EnronOnline in Japan
>
>
>
>
> Dear Paul:
>
> I believe Alan Aronowitz and Mark Haedicke of our office met
> with you a week or
> so ago and mentioned that we would need advice from you
> regarding the use of our
> internet trading website with customers in Japan.  Below is a
> list of initial
> questions regarding which we would be grateful for the
> benefit of your advice.
> For your background information as you consider these
> questions, be advised that
> counterparties must sign a written "Password Application"
> which provides that
> the counterparty intends to be bound by agreements entered
> into by "clicking" in
> the appropriate spaces on the website.  Please feel free to
> contact me with any
> questions you may have.  I can be reached either by e-mail at
> Mark.Taylor@enron.com or by telephone at (713)853-7459.
>
> 1.   Have relevant regulators in your jurisdiction made any
> statements regarding
> marketing of or dealing in any of the following types of
> products through the
> internet or other electronic systems:
>
>      Commodity transactions relating to oil, gas, electricity
> or other energy
> commodities, whether derivative
>           transactions (cash settled) or physically settled.
>      Financial derivatives - i.e. interest rate, foreign
> exchange or credit
> derivatives.
>      Weather derivatives.
>      If so, please could you provide us with a brief summary.

Our research has revealed no statements of regulators in Japan in connection
with the marketing or dealing in the above types of  products through the
internet or other electronic systems from publicly available source.  We will
let you know if we find any previous or future statements.

>
> 2.   Do any specific laws or regulations exist in your
> jurisdiction which would
> prevent or in any way impact upon marketing or trading of any
> of the products
> set out in question 1 above through the internet?  In
> answering this question
> please address issues relating to contractual formation and
> enforceability of
> contracts entered into via the internet.  In particular, if a
> transaction
> entered into via the internet is enforceable under U.S. or
> U.K. law and the
> transactions contain a choice of such law, will such
> transactions, including the
> choice of law, be enforceable in Japan?

We do not have any specific laws or regulations which would marketing or
trading
of any of the products set out in question 1 above through the internet.
Under
Japanese law, formation of any contract does not require any formality.

Japanese law generally does not require any formalities for offers or
acceptances to be valid as such. There is no Statute of Frauds, and parties
may
make most types of contracts orally. If there is enough evidence establishing
that the offeree agreed to the terms offered, an offeror may rely on it. In
most
simple sales contracts for consumer goods, for example, it would be easy to
prove that the customer agreed to pay x yen for product Y. The Seller's
electronic records showing that the customer clicked on the icon to buy
product
Y should be enough in this context.

In more complicated contracts, the structure of the seller's Web pages should
be
carefully designed. Having no court decisions, we have no definite answer to
the
question of enforceability of shrink-wrap agreements in Japan. However, the
legal implications of the Web-wrap, the online version of shrink-wrap, may be
somewhat different from shrink-wraps (e.g. licenses for software sold over the
counter).  Under a typical shrink-wrap license in the real world, for example,
the customer cannot break the wrapper until after the customer purchases the
product. However, in an on-line environment, a customer has a choice to click
on
an Accept-to-Buy icon before the customer purchases the product. Further,
with a
carefully compiled sequence of screens or pages which would in effect be able
to
let the customer read the terms and conditions before rushing to click on the
icon, it would be easier to prove that the customer read the terms and
conditions than in a typical shrink-wrap license situation. Unlike shrink-wrap
in the real world, the seller may obtain an electronic record showing that the
customer clicked on the icon. Given these differences, the result possibly may
be more favorable to sellers online than to those using shrink-wrap licenses.

If a transaction entered into via the internet is enforceable under U.S. or
U.K.
law and the transactions contain a choice of such law, such transactions,
including the choice of law, will be enforceable in Japan.

>
> 3.   If the answer to either of question 1 or 2 is "yes",
> please indicate
> whether the impact of any relevant statements, laws or
> regulations will differ
> depending upon whether (a) the relevant internet site is
> maintained in your
> jurisdiction or elsewhere; or (b) the party effecting the
> marketing/trading
> through the internet is locally licensed.

N/A

> 4.   Please confirm that by marketing to or trading with
> counterparts in your
> jurisdiction via the internet local relevant regulatory
> bodies/local laws or
> regulations will not consider the party maintaining the
> relevant website to have
> established a physical establishment/branch in your jurisdiction.

We do not have any clear cut answer to this since we have no relevant laws,
regulations, or court cases.  So long as  the party maintains the relevant
website with a computer server located outside Japan, the likelihood of
Japanese
regulatory bodies to consider that the party maintaining such website
established a "physical" establishment/branch in Japan is negligible.

>
> Thank you in advance for your attention.  We look forward to
> hearing from you.
>
> Sincerely,
>
> Mark Taylor
>
>


Since PNM is the only party taking issue here, we might do a quickie answer
clarifying the transportation and fuel language.   This might enable us to
get the type of netting and trading we want ($ vs. volumes) for both shipper
and operator imbalances at least until the GISB standards of netting and
trading are approved.  Maria

	From:  Drew Fossum                           12/06/2000 09:27 AM

To: Susan Scott/ET&S/Enron@ENRON
cc: Maria Pavlou/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Glen
Hass/ET&S/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, Lindy
Donoho/ET&S/Enron@ENRON

Subject: Re: TW

I'm inclined to agree that its not worth responding to.  They also argued
that imbalances should not be dollar valued before netting and trading are
available, but that strikes me as an industry wid e policy issue and not a TW
specific issue.  Any other thoughts?  DF

Susan Scott
12/06/2000 09:20 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Maria Pavlou/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Glen
Hass/ET&S/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, Lindy
Donoho/ET&S/Enron@ENRON

Subject: Re: TW

We did not answer protests to our Order 637 filing.

The gist of PNM's protest in RP00-626 is that we shouldn't be able to charge
a transport or fuel fee for our imbalance netting and trading service.  I
agree with PNM that our tariff language is vague in this regard.  What
exactly do we mean by "no additional cost...unless through the allocation
process, quantities may be subject to transportation and fuel"??   Can
someone help me with this?

Since we really did not want to make this compliance filing anyway, I would
say we probably wouldn't mind if FERC rejected our tariff sheet outright.
However, it's more likely that they will just instruct us to clarify our
language.  Or they could tell us to remove the "subject to transportation and
fuel" provision.  If we want to preserve our right to charge transport and
fuel, it might be worthwhile filing something in the way of an answer.
However, I am going to need some assistance in understanding what the
language means and why we think we can do it, so I can justify it to FERC.
Any comments you have in this regard would be appreicated.

	From:  Drew Fossum                           12/05/2000 05:18 PM

To: Maria Pavlou/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON
cc: Mary Kay Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Mary
Darveaux/ET&S/Enron@ENRON

Subject: TW

Should we respond to PNM's protest of the dollar valuation of imbalances
prior to netting and trading?  Did we already respond to this issue when they
filed their protest of the 637 filing?  DF


---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/19/2001
10:12 AM ---------------------------
From: Russell Diamond/ENRON@enronXgate on 03/19/2001 09:32 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron, Veronica Espinoza/ENRON@enronXgate
cc:
Subject: Credit Report 3/19/01

Counterparty    TAGG#   Action
AEP Energy Services, Inc.  qX4934.1  Rebook to AEP Energy Services, Inc.
 "    qX4285.1   "
Blue Star Resources, Ltd  qV3059.5  Pending Jay Williams
El Paso Energy Corporation  qX5675.1  Rebook to El Paso Merchant Energy LP
Husky Gas Marketing Inc.  qX5508.1  Rebook to Husky Oil Operations Limited
Louis Dreyfus Natural Gas Holdings qX5624.1  Louis Dreyfus Corporation
NGL Supply, Inc. dba Premier Enter. qX5790.1  Credit Previously Provided
National Fuel Resources, Inc.  qX5260.1  Pending Rudwell Johnson
Newton Paper Company, Inc.  qX5921.1  "Need L/C" language required in the
confirm
 "    qX5922.1   "
PG&E Energy Trading, Canada Co qX4420.1  Rebook ENA to ECC, under the ISDA
PanCanadian Energy Inc.  qX4599.1  Rebook to PanCanadian Energy Services Inc.
 "    qX4637.1   "
 "    qX4644.1   "
Paribas     qX4182.1  Rebook to BNP Paribas
Pickens Fuel Corp   qP0007.2   Pending Brant Reves
 "    qX0714.4.5.7.9.A.B  "
 "    qX5188.1   "
Smurfit Packaging Corp.   qX5745.1,qX5798.1,qX5917.1 Credit Previously
Provided
Texaco Inc.    qX5487.1  Rebook to Texaco Natural Gas Inc.
Utilicorp United Inc.   qX4981.1  Rebook to Aquila Risk Management Corp.


I guess someone thought of this again.  I'll wait to see what Ben says.

This is when I'm out of town, which is fine by me.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/06/2001 11:31
AM ---------------------------

Fred Mitro@ECT
03/06/2001 11:11 AM
To: Ben Jacoby/HOU/ECT@ECT
cc: Chris Booth/NA/Enron@Enron, Rebecca Walker/NA/Enron@Enron, Raimund
Grube/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron

Subject: Re: LM6000 Closing Dinner

I would suggest the week of the 19th through the 23rd. Wednesday and Thursday
evenings work well for business dinners/socials.

I have always enjoyed Americas, Churascos, or Cafe Annie for business
gatherings.  I think that we should invite the Coral folks just to keep the
night interesting (we can also talk with them about other transaction
opportunities - they may be in the market for additional projects).

Have any steps been taken to plan this event?  I can call John Jones at
Intergen to run the concept and dates past him.  Let me know.  I am in the
office until 2 pm on Wednesday and then on vacation on Thursday and Friday.

Fred

	Enron North America Corp.

	From:  Ben F Jacoby                           02/13/2001 11:15 AM

Sent by: Ben Jacoby
To: Fred Mitro, Chris Booth, Raimund Grube, Rebecca Walker, Kay Mann, Stuart
Zisman
cc:
Subject: LM6000 Closing Dinner - It's About Time!

Folks:

I'd like to get everyone together for a closing dinner around the 1st of
March or so to commemorate the closing of the Intergen LM6000 deal. Other
people I'd like to invite include: Kevin Presto, Janet Dietrich, Lee Johnson,
Carolyn Campbell, John Keffer, George Kuchbach (sp?), John Jones, Doug
Pedigo, and Chris Colbert. We can also use this as an opportunity to talk to
Intergen about other transaction opportunities. Any thoughts on whether we
should invite the Coral folks?

 Please let me know your availability, and of any restaurant recommendations.

Thanks,

Ben


I didn't know if you guys were aware of the Enron Golf Club....
We play some pretty good courses...prices are always a little cheaper plus it
includes
a couple of drinks.  Club also pays cash prizes for 1st,2nd,3rd in each
flight, and cash
for longest drive and closest to pin...

---------------------- Forwarded by Jim Homco/HOU/ECT on 02/26/2001 08:43 AM
---------------------------

	Enron North America Corp.

	From:  Gary W Lamphier                           02/22/2001 03:43 PM

To: John Allario/HOU/ECT, Jason Althaus/Corp/Enron@Enron, Molly L
Carriere/HOU/ECT@ECT, Andrew R Conner/HOU/ECT, Scott Earnest/HOU/ECT@ECT,
Kenneth W Ellerman/HOU/ECT, Richard Elwood/HOU/ECT, Hoong P Foon/HOU/ECT,
Robert D Foyteck/HOU/ECT@ECT, George N Gilbert/HOU/ECT@ECT, Scotty
Gilbert/TOR/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Joseph
Graham/HOU/EES@EES, Eric Groves/HOU/ECT@ECT, Steven Gullion/HOU/ECT, Gary A
Hanks/HOU/ECT@ECT, Jo Zepeda/HOU/ECT@ECT, Nathan L Hlavaty/HOU/ECT@ECT, Jim
Homco/HOU/ECT@ECT, Kelley Huntley/HOU/ECT@ECT, Kenneth W Kaase/HOU/ECT@ECT,
William E Kasemervisz/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Jay
Knoblauh/HOU/ECT@ECT, Gary W Lamphier/HOU/ECT@ECT, Cheryl
Marshall/HOU/ECT@ECT, Fred Mitro/HOU/ECT@ECT, Michael W Morris/HOU/ECT@ECT,
Lee Pinkston/HOU/ECT@ECT, Larry Robinson/HOU/ECT, Bryan Seyfried/LON/ECT@ECT,
Regan M Smith/HOU/ECT, Sean J Smith/HOU/ECT@ECT, Gary Taylor/HOU/ECT, Rajib
Saha/HOU/ECT, James McKay/HOU/ECT@ECT, Carey M Metz/HOU/ECT@ECT, Steve
Neal/HOU/ECT, Drew Ries/HOU/ECT, Lauri A Allen/HOU/ECT@ECT, George
Zivic/HOU/ECT@ECT, Steve Ross/HOU/ECT@ECT, Bill Doran/HOU/ECT@ECT, John D
Suarez/HOU/ECT@ECT, Barry Pearce/Enron Communications@Enron Communications,
Kevin Sweeney/HOU/ECT@ECT, Joe A Casas/HOU/ECT@ECT, Lloyd Will/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, Rene Enriquez/HOU/ECT, Joe
Villela/FGT/Enron@ENRON, Danny Conner/NA/Enron@Enron, Jarrod
Cyprow/HOU/ECT@ECT, Mark Davidson/Corp/Enron, Carol Essig/Corp/Enron, Eric
Efron/NA/Enron@Enron, Nate Digre/Corp/Enron@Enron, Scott
Tackett/Corp/Enron@Enron, Jill Siekmeier/Corp/Enron@Enron, Craig
Hiddleston/Corp/Enron, Wendy King/Corp/Enron, Robert Fuller/HOU/ECT@ECT, Adam
Gross/HOU/ECT@ECT, Chad Pennix/HOU/ECT@ECT, Lee Jackson/HOU/ECT@ECT, Tracee
Bersani/HOU/ECT@ECT, Tomas Tellez/HOU/ECT@ECT, Scott W Beilharz/HOU/EES@EES,
David Brown/HOU/EES@EES, Chris Hendrix/HOU/EES@EES, Robert
Kettyle/HOU/EES@EES, Jillian Orr/Corp/Enron@ENRON, Roger Persson/HOU/EES@EES,
George Phillips/HOU/EES@EES, Farrell Smith/HOU/EES@EES, Greg
Trimble/HOU/EES@EES, Maurice Winter/HOU/EES@EES, Javier
Chavarria/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael B Rosen/HOU/ECT@ECT,
Christopher Riley/HOU/EES@EES, Timothy Blanchard/HOU/EES@EES
cc:
Subject: Golf Association 2001 start next month!

Hello all, and welcome to the Enron Golf Association and the 2001 season.  We
are looking forward to a great year with a great schedule and we need someone
to stop Richard Hanagriff from winning player of the year.  Go to the website
@ http://home.enron.com:84/egc/index.htm under Admin services and fill out a
member form and send it to Molly Carriere.  This year Enron has decide to
cut  all the association budgets in half so we have selected some more
inexpensive courses and raised some green fees to help meet a budget.  The
joining fee remains @ $30.

Our first tournament is on Saturday, March 3 @ High Meadows Ranch.  This is a
great new "must play" course.  We are only charging $55 to play which is a
great deal.  Please send Larry Robinson a check for $85 ($55 + $30) and sign
up as soon as you can.  This is a best ball tournament and tees off @ 8:00 am.

Our next course is March 24 at the Kingwood "Forest" Course so we are
starting out strong.

Have fun and make birdies!

Gary Lamphier
EGA President
3-3345


I will be leaving at 1:30 PM tomorrow for a doctors appointment, and return
if time permits.

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


Steve,
Attached is a copy of your group's latest AAP Utilization Analysis as of
11/7/00.  Also attached is an explanatory memo of the report which can be
used in the distribution of the report to your management team.  For
comparison purposes, I have included the Utilization Analysis for 01/15/2000
as well as the most recent Utilization Analysis.

If you have any questions, you can call me at x37921 or Felecia Acevedo at
x39815.

Regards,
Sandra


Please see attached.

Regards,

Wendi Lebrocq
3-3835


The following item was presented in this week's corporate change control....

Jan. 7
From 7:00 a.m. through 1/11 at 5:00 p.m., Facilities will perform the annual maintenance on the rooftop chillers.  The chillers will be taken down one at a time during the maintenance.  No impact to ETS is expected.

ETS Solution Center - Houston	713-345-4745
ETS Solution Center - Omaha	402-398-7454


(See attached file: hpl0815.xls)

 - hpl0815.xls