Let's try this again....

Thanks,

Melissa Little
Assistant to Michael Mauboussin
Credit Suisse First Boston
(212) 325-2881

-----Original Message-----
From: Sherri.Sera@enron.com [mailto:Sherri.Sera@enron.com]
Sent: Tuesday, May 08, 2001 4:16 PM
To: michael.mauboussin@csfb.com
Subject: Your e-mail to Jeff Skilling

Mr. Mauboussin,

Your e-mail was received by Jeff Skilling.  Your note references an
"attached preface," which he doesn't seem to have.  Is it possible that you
could resend it to him at jeff.skilling@enron.com?  Many thanks for your
assistance.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com

This message is for the named person's use only.  It may contain
confidential, proprietary or legally privileged information.  No
confidentiality or privilege is waived or lost by any mistransmission.
If you receive this message in error, please immediately delete it and all
copies of it from your system, destroy any hard copies of it and notify the
sender.  You must not, directly or indirectly, use, disclose, distribute,
print, or copy any part of this message if you are not the intended
recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve
the right to monitor all e-mail communications through its networks.  Any
views expressed in this message are those of the individual sender, except
where the message states otherwise and the sender is authorised to state
them to be the views of any such entity.
Unless otherwise stated, any pricing information given in this message is
indicative only, is subject to change and does not constitute an offer to
deal at any price quoted.
Any reference to the terms of executed transactions should be treated as
preliminary only and subject to our formal written confirmation.

 - Preface3.1.doc


The report named:
<http://trv.dev.corp.enron.com/linkFromExcel.asp?report_cd=8&report_name
=FT+-+Texas+P/L&category_cd=4&category_name=TEXAS&toc_hide=1&sTV1=4&TV1E
xp=Y&current_efct_date=06/07/2001> FT - Texas P/L, published as of
06/07/2001 is now available for viewing on the website.


fyi
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 02/02/2000
04:47 PM ---------------------------

Richard B Sanders
02/02/2000 10:45 AM
To: Stephanie Harris/Corp/Enron@ENRON
cc:
Subject: Re: ENA Litigation Status Report

I  will be happy to do it this way. By the way, if you are sending a copy to
Bill McCartney at V&E, you should know that I am also sending him a copy.

Stephanie Harris @ ENRON

02/02/2000 10:06 AM
To: Richard B Sanders/HOU/ECT@ECT, Twanda Sweet/HOU/ECT@ECT
cc:
Subject: ENA Litigation Status Report

Richard, in the future, could you please have your Assistant forward the
reports to me.  Previously, Mr. Derrick did not have e-mail and his mail was
diverted to me automatically by the system.  Now, it does go to him and I
have to go in and send it back to me.  Mr. Derrick reads the reports after I
take care of the administration of them which involves copying, filing and
forwarding on to Vinson & Elkins.  This is the procedure he has set for me.

I don't mean to complicate your life further, but would really appreciate it
if you could do this.

Thanks so much,

Steph.

---------------------- Forwarded by Stephanie Harris/Corp/Enron on 02/02/2000
10:03 AM ---------------------------

Stephanie Harris

02/01/2000 07:55 PM
To: Stephanie Harris/Corp/Enron@ENRON
cc:

Subject: ENA Litigation Status Report

---------------------- Forwarded by Stephanie Harris/Corp/Enron on 02/01/2000
07:54 PM ---------------------------

Richard B Sanders@ECT
02/01/2000 03:02 PM
Sent by: Twanda Sweet@ECT
To: Mark E Haedicke/HOU/ECT@ECT
cc: Cliff Baxter/HOU/ECT@ECT, James V Derrick@Enron, Julia
Murray/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT

Subject: ENA Litigation Status Report

Attached is the weekly ENA Litigation Status Report.


John, can you please review and make sure Dennis has all our people plus associates on the
distribution list.  Thanks. Lynn

 -----Original Message-----
From: 	Lee, Dennis
Sent:	Tuesday, July 10, 2001 7:51 AM
To:	Lee, Dennis; Adams, Jean; Aldinger, William; Bastida, Nancy; Benningfield, Robert; Berger, Larry; Blair, Jean; Blair, Lynn; Bodnar, Michael; Brostad, Karen; Brown, Elizabeth; Bryan, Randy; Buchanan, John; Buehler, Craig; Callans, Nancy; Carr, James; Carrillo, Alma; Carter, Zuela; Cherry, Paul; Clapper, Karen; Collins, Marion; Coon, Galen; Corman, Shelley; Cramer, Lanny; Davis, Larry; Donoho, Lindy; Dykes, Tangie; Eldridge, Dale; Floyd, Jodie; Forbish, Sherry; Garcia, Ava; Giambrone, Laura; Gracey, Rosemary; Greaney, Chris; Green, Alma; Hernandez, Bert; Hottap HelpDesk; Howard, Jack; Janzen, Randy; Kowalke, Terry; Laferla, Lynda (Schoolcraft); Lindberg, Lorraine; Lindley, Hilda; Linhart, Joe; Lohman, TK; Lokay, Michelle; McDaniel, Janet; McEvoy, Christine; Miller, Beverly; Minter, Tracy; Mulligan, Amy; Nacey, Sheila; Penkava, Loren; Perry, Katherine; Phillips, Mary; Porter, Diana; Rivers, Cynthia; Scurlock, Debra; Sheffield, Sandy; Steele, Patricia; Sturr, Kathy; Trevino, Linda; Valley, Lisa; Walden, Shirley; Ward, Linda; Washington, Kathy; Wilkens, Jerry; Woodson, Harry; Zadow, Raetta; Burleson, Bob; McCarran, Penny; Weller, Steve; Vasquez, Josue
Subject:	RE: Shipper Assignment Lists

So here's the one with the attachment.
DL

 -----Original Message-----
From: 	Lee, Dennis
Sent:	Tuesday, July 10, 2001 7:49 AM
To:	Adams, Jean; Aldinger, William; Bastida, Nancy; Benningfield, Robert; Berger, Larry; Blair, Jean; Blair, Lynn; Bodnar, Michael; Brostad, Karen; Brown, Elizabeth; Bryan, Randy; Buchanan, John; Buehler, Craig; Callans, Nancy; Carr, James; Carrillo, Alma; Carter, Zuela; Cherry, Paul; Clapper, Karen; Collins, Marion; Coon, Galen; Corman, Shelley; Cramer, Lanny; Davis, Larry; Donoho, Lindy; Dykes, Tangie; Eldridge, Dale; Floyd, Jodie; Forbish, Sherry; Garcia, Ava; Giambrone, Laura; Gracey, Rosemary; Greaney, Chris; Green, Alma; Hernandez, Bert; Hottap HelpDesk; Howard, Jack; Janzen, Randy; Kowalke, Terry; Laferla, Lynda (Schoolcraft); Lee, Dennis; Lindberg, Lorraine; Lindley, Hilda; Linhart, Joe; Lohman, TK; Lokay, Michelle; McDaniel, Janet; McEvoy, Christine; Miller, Beverly; Minter, Tracy; Mulligan, Amy; Nacey, Sheila; Penkava, Loren; Perry, Katherine; Phillips, Mary; Porter, Diana; Rivers, Cynthia; Scurlock, Debra; Sheffield, Sandy; Steele, Patricia; Sturr, Kathy; Trevino, Linda; Valley, Lisa; Walden, Shirley; Ward, Linda; Washington, Kathy; Wilkens, Jerry; Woodson, Harry; Zadow, Raetta; Burleson, Bob; McCarran, Penny; Weller, Steve; Vasquez, Josue
Subject:	Shipper Assignment Lists

OK...We're back...

Here is the latest shipper assignment list.  Please let me know if there are any changes.

Also, please let me know if there are others that need to be added to this mail list.

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


Richard

	I got another call from Steve Knight of Philchem about this.  Should you and I set up a time to discuss?  I think we need to go forward with the claim against Underwriters as soon as possible, but at the same time, I don't recommend (a) going forward on a third-party action against either Baytank or Philchem and (b) I think we need to dissuade Underwriters from thinking about a subrogation against Baytank or Philchem.

	Let me know when you'd like to talk.

	Britt

 -----Original Message-----
From: 	Davis, Britt
Sent:	Thursday, September 06, 2001 1:24 PM
To:	Sanders, Richard B.
Cc:	Bahner, Rita; Zikes, Becky; Edison, Andrew
Subject:	FW: In re Enron Petrochemicals Claim Against Underwriters
Importance:	High

	Richard,

	I apologize for not getting back to you more quickly on this; frankly, I keep hoping I can think of a clear solution to this problematic file, but with no success.  We are coming up on a Texas two-year tort statute of limitions in November.

	My previous e-mail to you details what a can of worms this matter is for us.  Since that e-mail, I have focused my review on the very troublesome "boomerang" indemnity aspect of this matter--whether anything we recover from Baytank or Underwriters we might have to turn right around and pay back to Philchem if, as is likely, Philchem gets sued by Baytank for indemnity, and if Philchem then sues us for breach of our marketing agreement with Philchem.

	My conclusion is that we in fact do run a substantial risk of that happening, based on my view of Baytank's explicit indemnity rights against Philchem under the Terminalling Agreement between them and the clear intent of the Enron and Philchem in the Marketing Agreement for Philchem not to be liable for anything except pollution liability, hazardous waste disposal, etc.  While this intent is not specifically spelled out, Janice Moore, who wrote Enron/Philchem contract, told me this was the only reason for the contract (otherwise, Enron would have entered into the Terminalling Agreement directly with Baytank), and Steve Knight with Philchem never loses the chance to say that Enron and Philchem were partners.  Philchem was basically acting as the marketing arm of Enron for this product.  John Nowlan was involved in the drafting of the Marketing Agreement; I haven't spoken to him about it.

	 All this is of course assuming that Baytank couldn't either (a) get a no-duty summary judgment granted against Enron if Enron filed a tort claim against Baytank or (b) at least have the damage limitation provisions of the terminalling agreement applied to such a tort claim.  Under (b), Enron probably couldn't recover more from Baytank than what Enron could get from Underwriters.

	My recommendation--go get as much as we can from Underwriters, but do everything we can to dissuade them from pursuing a subrogation action against Philchem (and I think there is what amounts to a waiver of subrogation clause there anyway)  or a subrogation action against Baytank, which will undoubtedly trigger an indemnity action against Philchem.  Of course, this will probably limit us to a recovery of about $250K at best, and we have this matter on our books for about $900K.

	Parenthetically, I just got a call from Steve Knight of Philchem a week or so ago.  Although Philchem has stopped doing business, he is keeping a reserve in case we decide to sue him and wants his accountants to be able to let it go.  We might be able to get a small settlement out of him to add to whatever we get from Underwriters.

	Let me know what you think.  I haven't given this news to Steve Elliott yet.

	Britt

	P.S. to Andy:  I don't know if this is now one of your files, so I am reporting to you on it as well.

 -----Original Message-----
From: 	Davis, Britt
Sent:	Friday, June 22, 2001 2:41 PM
To:	Sanders, Richard B.
Cc:	Bahner, Rita; Zikes, Becky
Subject:	In re Enron Petrochemicals Claim Against Underwriters
Importance:	High

	Richard,

	This is the styrene monomer contamination claim that arose in November of 1999 and that involves Philchem and Baytank.  Steve Elliott is the trader.  We probably have the claim on our books valued at around $900,000.  It continues to be problematic.

	Here's the big picture for Enron Petrochemical's recovery prospects:

	1.  Underwriters are correctly relying on the declared value provisions of our policy to limit Enron's total recovery to about $250,000 (this is what Underwriters' adjuster said she would consider settling for at one time, subject to receipt of additional documentation; I have also seen subsequent correspondence from her in January of this year where she says that due to prejudice to her third party rights, she would only consider settling for about $65,000).  To the extent Underwriters pay, they are probably entitled to subrogate and get their money back first.

	2.  Philchem's contract with Enron Petrochemicals contains onerous (for us) limitation of damages clauses.  I am told that the only reason for the Enron/Philchem contract was to prevent Enron from being in privity with Baytank and potentially having some exposure for spills.  Otherwise, Philchem basically acts as Enron's marketing arm.  Consequently, Philchem was allowed to effectively insulate itself from liability in a situation like this.  First, to the extent Underwriters have paid us, we can't recover such payments again from Philchem (and neither can Underwriters).  Second, to the extent that Baytank isn't liable to us for damages, we have to pay it.  Last, the only liability theory explicitly mentioned by the contract is based on negligence, and it would be very difficult for us to prove Philchem was negligent, unless that negligence could be imputed from Baytank, which I don't think is likely.

	3. Philchem's contract with Baytank also contains onerous (for Philchem and us) limitation of damages clauses as well.  That contract explicitly limits Philchem's recovery to (a) causes of action based on negligence for (b) the lesser of the actual cost of the product to Philchem, or a certain dollar amount, whichever is less.  My gut is that these provisions may limit Enron/Philchem to even less than what Enron could recover from Underwriters, and of course the Underwriters would get the first $250,000 anyway.

	Because of these substantial problems, I am working on a direct tort action by Enron Petrochemicals against Baytank.  There are, however, substantial problems with that approach as well, as follows:

	1.  Does Baytank owe Enron Petrochemicals a duty?  According to Steve Elliott, Baytank may not have known it was Enron's product.  I would need evidence of custom and practice in the industry that Baytank customarily contracts with parties who put product owned by others in Baytank's tanks with same or similar contract language.  There is also language in the contract that states that as between Philchem and Baytank, Philchem retains the title to the property at all times.  That language probably wasn't meant to apply to this situation, but I could see Baytank's lawyers saying it means that Philchem could only put product to which it had title in Baytank's tanks.

	2.  Is Enron bound by the limitations of remedies clauses in the Philchem/Baytank contract under some partnership, joint venturer, principal/agent, third part obligor or other theory?  The Enron/Philchem contract expressly denies that it creates a partnership, joint venture, or principal/agent relationship, but I think a Court/jury will really be leaning in Baytank's favor once it becomes aware of the primary reason for the Enron/Philchem contract (to insulate Enron from possible liability for a spill, while otherwise giving Enron the benefit of the Baytank contract).  The Enron/Philchem contract in fact attaches a copy of the executed Philchem/Baytank contract.

	3.  Will even an otherwise valid direct tort action against Baytank ultimately boomerang on Enron through the indemnity clauses in both contracts?  This is huge.  It makes no sense for Enron to go after Baytank and spend substantial attorneys' fees if Enron will ultimately have to pay back any recovery to Philchem.

	4.  It gets worse if you consider Underwriters' subrogation rights.  Supposed Enron gets paid $250,000 by Underwriters, and Enron recovers $250,000 from Baytank.  Underwriters keep the $250,000.  Baytank goes after Philchem, who goes after us.  If I'm right on the indemnity boomerang, Enron would actually pay what it recovered from Underwriters to Philchem.  If this is correct, our best case may be to get our insurance claim paid and discourage Underwriters from going after Baytank!

	I will keep you advised.

	Britt


No - that is wierd. Let's try again.

Dan J Hyvl
03/14/2001 02:08 PM
To: Kim Ward/HOU/ECT@ECT
cc:
Subject: Re: palo alto RFP response

Kim,
 Is the attached what you intended for me to review?

	Kim Ward
	03/14/2001 03:18 PM

		 To: Dan Hyvl
		 cc:
		 Subject: palo alto RFP response

ROUGH Draft!!

Thanks for your review and help!!

kim


In that case, it's just the SoCalGas core procurement charge (including
brokerage fee -- e.g. their March price was $7.404/dth) that we need to be
comparable to or beat.  We have more control over the transmission rates so
the
price from Enron we are looking for is just for the commodity at the border.
I'll provide you with our monthly WACOG that customers are charged as the
commodity portion of their bill versus SoCalGas' core procurement charge.
I'll
be sending you the data today.

Kim.Ward@enron.com wrote:

> Bonnie,
>
> Sorry I am just now getting back - I was out of the office Thurs & Fri.
> What I am trying to determine is the rate that Long Beach wants to beat and
> what it is made up of - so I would say both transmission and commodity
> prices.  Let me know if you have any more questions -
>
> Thanks,
>
> Kim Ward
> 713-853-0685
>
> "Bonnie Ying" <boying@ci.long-beach.ca.us> on 03/22/2001 05:10:21 PM
>
> To:   Kim.Ward@enron.com
> cc:   Chris Garner <chgarne@ci.long-beach.ca.us>, Cynthia Gonzales
>       <cygonza@ci.long-beach.ca.us>
> Subject:  Request for Information
>
> Kim, just a clarification on the last question of your data request --
>
> By historical retail rates vs. SoCal's rates, do you mean the
> transmission rates or the commodity prices?


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The report named:
<http://trv.corp.enron.com/linkFromExcel.asp?report_cd=32&report_name=EM
W+P/L&category_cd=9&category_name=EMW&toc_hide=1&sTV1=9&TV1Exp=Y&current
_efct_date=10/29/2001> EMW P/L, published as of 10/29/2001 is now
available for viewing on the website.


FYI
---------------------- Forwarded by Randy Petersen/HOU/ECT on 08/04/2000
02:38 PM ---------------------------

"Dawn Simmons" <dsimmons@canfibre.com> on 08/04/2000 01:41:52 PM
To: <randy.petersen@enron.com>
cc:
Subject: Draft Release

?
 - 0804 News ReleaseDraft.doc


What are your thoughts on this?

Thanks
Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 11/08/2000 09:59
AM ---------------------------

Elisa Donovan@EES
11/07/2000 10:34 AM
To: Mark Taylor/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT
cc: Neil Bresnan/HOU/EES@EES, Karen A Cordova/HOU/EES@EES
Subject: Altra, ICE access

As per my voice mail yesterday, EES is interested in having access to the
IntercontinentalExchange (ICE) and Altrade Electronic Brokering System for
power.  EES would really need only read-only access, as all trades would
continue to be conducted through ENA (or EPMI).  I believe the ICE agreement
with ENA allows this type of access by affiliates, although we likely need to
obtain additional user licenses.  I do not know whether the Altra agreement
with ENA would allow for EES to access the Altrade system.

I think it would be preferable for EES to be able to access the systems under
the current ENA agreements rather than entering into their own agreements,
given that ENA will continue to be the trading party.  Thoughts?  Could you
please advise as to how EES can get the access it needs?

Thanks,
Elisa Donovan
EES Legal
Ph: 713-345-4142


Michael problems. He has ADD and some other lesser learning problems.  We are
going to meet  with the specialist next week.

I'm going to try to take off Friday afternoon as well.  We are thinking of
changing his school, and Neil and I need to go visit a new one.

HECTIC!

From: Suzanne Adams@ECT on 08/02/2000 09:59 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re:

Are you ok?

	Kay Mann@ENRON
	08/01/2000 06:03 PM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject:

Please protect Thursday afternoon, August 10th for me.  I have some important
personal stuff to take care of.


BELATED CONGRATULATIONS PARTY

Celebrating Shonnie Daniel's

February 2000 Promotion
to
Assistant General Counsel

TODAY - October 26, 2000 at 5:30 PM
Grappino di Nino
(West Dallas behind Nino's)

(invitees backdated to 2/2000)


My cell number is 713-705-1823.  Please call me as you need me.
Alternative email:  sshackl@swbell.net

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

	TeiglandL@sullcrom.com
	03/15/2001 03:52 PM

		 To: Sara.Shackleton@enron.com
		 cc:
		 Subject: second try: Allegheny ISDA side letter

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - Allegheny  ENRON side letters(v1).DOC


For purposes of selecting an arbitrator for an arbitration, please let me
know by voice mail or e-mail generally the extent of representation of Enron
by these firms, particularly their Dallas offices, and more particularly by
any of these individuals:

Robert Blumenthal (Carrington, Coleman, Sloman & Blumenthal)

Dudley Chambers (Jackson & Walker)

Hugh Hackney (Locke Liddell & Sapp)

Randall Hand (Allegiance Telecom, Inc.)

Alan Harris (Andrews & Kurth)

Robert W. Jordan (Baker & Botts)

Melinda G. Jayson (Hall Financial Group)

Elizabeth Lang-Miers (Locke Liddell & Sapp)

Douglas S. Lang (Gardere Wynne & Sewell)

Jeffrey S. Osgood (Strasburger & Price)

I just need something very general; however, our outside counsel has
committed to furnish this information to our adversary tomorrow (Friday)
afternoon if possible.  I would appreciate any information you can give me.
Thank you.


The attached file contains our daily volume requirements for  4/10/00  and
the
following day(s) as listed .    There are three  worksheets labelled as
follows:

'Total Reqs':  Contains the volumes that CES is requesting from Enron at each
of the delivery points and dates indicated in the columns labelled "NOM".
The
Enron schedulers will want to check this sheet to see how much gas is needed
at
a specific point.   The AGL volumes are not timely and should be ignored until
further notice.    CES schedulers note:  the attached file is archived on
P:\Energy Ops\Enron\April_00\Daily\ *.xls, so you don't have to save a
duplicate copy elsewhere on the network.
'Daily Change' :  shows the change (increase +/decrease -) in the daily volume
needed from Enron at the designated citygate delivery point relative to the
supply volumes arranged previously with Enron prior to the current date.  For
the current gas day, the change is an intra-day change and is calculated using
the previous day's volume request for the current day (e.g., If the current
gas
day is 3/28, then the change is computed with respect to the 3/27 request for
3/28.  Note that this procedure assumes that the prior day supply change was
in
fact effectuated).  For tomorrow's gas day and any subsequent ones shown, the
change is computed as the latest Dth Nomination requirement less the
First-of-the-month supply volume plus or minus any adjustments made since the
first-of-the-month to the FOM supply for the (future) days shown.  (e.g., If
today is 3/28, then the change for 3/29, 3/30, etc. is computed with respect
to
the first-of-the-month volumes for those days adjusted for any additional
purchases or sell-backs since the first-of-the-month thru 3/27.)   This sheet
should be useful in determining prices for daily changes in gas volumes that
we
take or turn back.   The column labelled "ENA Daily Swing +/- vs FOM volume'
shows the absolute magnitude of the daily swings allowed by ENA at
pre-specified prices.  Prices for Swing volumes exceeding these magnitudes or
for swings at delivery points without pre-specified pricing must be
negotiated.
'TCO Storage':  Shows the daily swings taken by CES on its (paper) storage
injection for the month.    Daily swings on TCO storage may be used to meet
some or all of the daily swings at delivery points off TCO as shown in the
"Daily Change' worksheet.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317

 - 04-10-00 daily volsAM.xls


Sorry about getting to go through this with you.  We can do this on Monday.
Have a good weekend.
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 02/11/2000
05:51 PM ---------------------------

	Enron North America Corp.

	From:  Tina Tennant                           02/11/2000 09:57 AM

To: Benjamin Rogers/HOU/ECT@ECT
cc:
Subject: Deal LIst

I am going to get a GTD directory set up on the Odrive so that we can access
this from there.
I detached this sheet from the workbook that also has the contact infromation
in it.
Please send me the names of any new people that you add so that I can update
it for Monday
and send this back so that I can keep them together.
Thanks Tina
x58487

I have additons that Thomas gave me that I will bring to you.


Notice # 01-182
May 30, 2001

TO:
ALL NYMEX/COMEX DIVISION MEMBERS
ALL NYMEX/COMEX DIVISION MEMBER FIRMS
ALL NYMEX/COMEX DIVISION CLEARING FIRMS
ALL NYMEX/COMEX DIVISION OPERATION MANAGERS

FROM:
George Henderson, Vice President
Michael Campanelli, Vice President

RE:
June ATOM Processing Schedule

DATE BUSINESS DAY EVENT

6/1 1  Preliminary ATOM reports and Give upListings.
6/5 3  Last day for adjustments.
6/6 4  Final ATOM reports.
6/7 5  CMs debited for brokerage.
6/11 7  NYMEX gets confirmation of available Funds in escrow account
                        and initiates Transfer to Brokers.
6/12 8  Funds are deposited to broker Accounts.
6/13 9  Brokers who check their morning Balances will see the ATOM
                        deposits Reflected in their bank balances.

NOTE:
Broker enrollments for July cycle must be received by the Membership
Department
No later than 10:00 A.M., on June 28, 2001.

If you have any questions regarding NYMEX, please contact Juan Serrano or
Gerard Taibi at (212) 299-2626.
If you have any questions regarding COMEX, please contact David Sherman at
(212) 299-2061.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(01-182)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Attached in Word and WordPerfect are the form Swap documents for the above
transaction marked to show changes from the final versions of the original
Hawaii 125-0 Master Documents.

Please note that Enron has requested the inclusion of their standard
aribtration provision in Part 4 of the Schedules.

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4461
(214) 659-4784 (fax)

 - 268099.wpd
 - 265279.wpd
 - 266279.doc
 - 266279.wpd
 - 268099.doc
 - 265279.doc


Western Government Affairs
WEEKLY SCHEDULES
For the Week of May 21 - 25, 2001

Paul Kaufman

Mon  5/21  Houston TX
Tue  5/22  Houston TX
Wed  5/23  Portland OR office, a.m.; Helena, p.m.
Thur  5/24  Helana
Fri  5/25  Portland OR office

Sue Mara

Mon  5/21  San Francisco CA office, a.m.;
10 - 4 Real-TIme Pricing Workshop [2 pm Dentist]
Tue  5/22  San Francisco CA office
Wed  5/23  San Francisco CA office
Thur  5/24  ISO Board, Folsom and IEP Board, Sacramento
Fri  5/25  San Francisco CA office, a.m.;
9 - 11 AReM Meeting
Vacation beginning 11:30 am

Jeff Dasovich

Mon  5/21  San Francisco CA office
Tue  5/22  San Francisco CA office
Wed  5/23  San Francisco CA office
Thur  5/24  Vacation
Fri  5/25  Vacation

Sandi McCubbin

Mon  5/21  Sacramento CA
Tue  5/22  Sacramento CA
Wed  5/23  Sacramento CA
Thur  5/24  Sacramento CA
Fri  5/25  Vacation

Mona Petrochko

Mon  5/21  Dallas TX
Tue  5/22  Washington DC
Wed  5/23  Houston TX
Thur  5/24  Houston TX
Fri  5/25  San Francisco CA

Alan Comnes

Mon  5/21  Portland OR office
Tue  5/22  Portland OR office
Wed  5/23  Portland OR office
Thur  5/24  Portland OR office
Fri  5/25   Portland OR office


John, I asked Brian to investigate taking a number of ESA's engineering folks
into his central Technical Services group.  These folks would continue to
work on ESA's projects but would get the resources and support of the
centralized body particularily in their negotiations with outside vendors
including NEPCO and OEC.  It would also be another linkage into the SAmerican
business from Houston to help monitor and defray technical and development
risk.  Lets see if Kishkill and Redmond get to the right answer.

Regards
Delainey


I am pleased to announce that Larry Davis has accepted the Gas Controller position effective February 16. Larry's field experience on NNG make him well qualified for this job. I am going to assign Larry to GC Team 2 with Rory, Helen, Rob and Ed at this time. thanks. sj


Don,
Please advise of your interest in the following Candidate.

Courtnie Parker
EA
(713) 853-5315
courtnie.parker@enron.com


----- Forwarded by Tana Jones/HOU/ECT on 03/21/2001 09:24 AM -----

	exchangeinfo@nymex.com
	03/20/2001 05:50 PM

		 To: tana.jones@enron.com
		 cc:
		 Subject: (01-98) NYMEX Holdings, Inc. Chairman of the Board & Board of
Directors Results

Notice No. 01-98
March 20, 2001

TO:
All Exchange Members

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT:
NYMEX Holdings, Inc. Chairman of the Board & Board of Directors Results

The shareholders of the NYMEX Holdings, Inc., and the New York Mercantile
Exchange, Inc., today elected Vincent Viola by a margin of 476 to 115 as
chairman of the board and the following individuals to other positions on the
Exchange board of directors: Gordon Rutledge, Madeline Boyd, Gary Rizzi, J.
Robert Collins, Kenneth Garland, Robert Steele, and Harley Lippman.

A resolution was also passed, by a vote of 469 for and 84 against, to add
three equity holder representative positions to the board. An election for
these positions will be scheduled shortly.

Mr. Viola, vice chairman of the Exchange from 1993 to 1996, is the founder
and sole owner of Pioneer Futures, Inc., which is currently a clearing member
of both divisions of the New York Mercantile Exchange, and the New York Board
of Trade. Mr. Viola also served on the Exchange board in the at-large
category from 1987 to 1990 He is a graduate of the United States Military
Academy at West Point and achieved the rank of major in the United States
Army Reserves. In 1983, he graduated from New York Law School with a juris
doctor degree.

In 1988, Mr. Viola formed the First Bank Group which operates community banks
in Dallas and the surrounding Texas area. In 1998, he formed MV Technologies,
a developer of fully integrated electronic platforms for trading futures,
options, equities, and derivatives.

Mr. Viola co-founded and was chairman of the National Children,s Educational
Reform Foundation, which is dedicated to the fundamental reform and
improvement of inner-city education with an emphasis on bi-lingual programs
in immigrant communities. Mr. Viola has served on the West Point Fund
committee, an arm of the board of trustees which supports academy cadet
programs. In 1997, Mr. Viola received a man-of-the-year award from the Eden
School for Autistic Children. In 1998, Mr. Viola was awarded the Ellis Island
Medal of Honor by the National Ethnic Coalition of Organizations. In 2000, he
was honored with the community service award from the Futures and Options for
Kids charitable organization.

Mr. Rutledge was elected as the board representative in the floor broker
category. Mr. Rutledge, who is co-founder and owner of Onyx Brokerage Inc.,
has been a floor broker on the Exchange since 1981, after working for Merrill
Lynch as a newswire editor and technical analyst. Prior to starting Onyx, he
also worked for MercOil and J. Tafaro Brokerage. He serves on the membership,
technology, arbitration, adjudication, floor broker advisory, and political
action committees. Mr. Rutledge has a bachelor of arts cum laude from Harvard
University.

Ms. Boyd was elected as the local representative to the board. Ms. Boyd has
been the at-large representative to the board for the past three years and a
member of the executive committee for the past year. She has traded gasoline
for her own account for more than 16 years. She is has been chairman of the
NYMEX Charitable Foundation since 1992 and is also co-chairman of the local
advisory committee and the petroleum products advisory committee, and a
member of the coal advisory committee. She also serves as a director of the
Commodity Floor Brokers and Traders Association and Futures and Options for
Kids and holds a bachelor of science in business from Fairleigh Dickinson
University.

Mr. Rizzi was reelected for the third time as a futures commission merchant
(FCM) representative to the board. In addition to serving on the board for
the past six years, Mr. Rizzi has served two terms on the executive
committee, including the past year. He has been a member of the floor
community for 22 years. After working for Dean Witter for a year as a clerk,
Mr. Rizzi joined A.G. Edwards and became floor manager in 1982. He has been
an officer of the company and a conferring member of the Exchange for 17
years. He is also a member of the COMEX Division and both divisions of the
New York Board of Trade. He is the chairman of the membership, FCM advisory,
and technology committees and vice chairman of the facilities committee.

J. Robert (Bo) Collins, Jr., ran unopposed to fill the trade slot. Mr.
Collins is senior vice president of natural gas trading at El Paso Merchant
Energy, a division of El Paso Energy Corporation, the largest pipeline
operator and the third largest producer of natural gas in North America. Mr.
Collins directs the natural gas derivatives portfolio. Before joining El Paso
in 1997, Mr. Collins was a natural gas and crude oil options market-maker
with Pioneer Futures on the Exchange trading floor. A graduate of Texas A&M
University, his first professional experience was in commercial banking with
the Dallas Federal Reserve Bank.

Mr. Collins has been a member of the Exchange since 1995 and has served on
the options advisory committee since 1996.

Mr. Garland was elected to his first term as the at-large representative to
the board. After receiving a masters degree in audiology from Long Island
University, Mr. Garland worked as a private and industrial audiologist for
eight years. He began trading at the New York Mercantile Exchange for his own
account in 1981. In 1982 and 1983, he also acted as a floor broker. Since
purchasing his seat in 1983, he has exclusively traded for his own account,
concentrating most of his time in the gasoline ring. He is vice chairman of
the Exchange floor and settlement committees; panel chairman on the
arbitration and adjudication committees; and also serves on the following
committees: membership; local advisory; and petroleum product advisory. Mr
Garland was also recommended by the Exchange in 1994 to represent it on the
National Futures Association membership appeals subcommittee, a position he
continues to hold to this day.

Mr. Steele and Mr. Lippman were elected to three-year terms as public
directors of the Exchange. Prior to the Exchange,s demutualization in
November 2000, the public directors were appointed by the board and served
two year terms.

Mr. Steele served as a public director of the Exchange from 1988 to 1994, and
was re-appointed to the board in 1999. He is vice chairman of John Ryan
Company, an international financial services marketing firm, and is director
of the Merlin Retail Financial Center in Stamford, Conn. He previously served
as president and chief executive officer of the Norwich (CT) Savings Society
from 1975 to 1981, and as president and chief executive officer of Dollar Dry
Dock Bank of New York from 1985 to 1990.

Mr. Steele was a U.S. congressman (Second District, Conn) from 1970 to 1974,
and was the Republican candidate for governor of Connecticut in 1974. While
in Congress , he served on the House Foreign Affairs Committee, was the
ranking minority member of the Latin American subcommittee, and chaired or
co-chaired Congressional task forces on international drug trafficking and
problems of the aging. Following Congress, he was appointed chairman of the
Social Security committee of the White House conference on aging. In addition
to the Exchange, Mr. Steele serves on the board of directors of SmartServ
Online (web and wireless transaction platform services provider), Scan
Optics, Inc. (document processing systems and information management
solutions), and NLC Insurance Companies. He is also chairman of the board of
Moore Medical Corp. He served as a Soviet affairs specialist in the Central
Intelligence Agency from 1963 to 1968. He was a visiting lecturer in
government at the United!
 S!
tates Coast Guard Academy and is the recipient of an honorary doctor of laws
degree from Sacred Heart University in Connecticut.

Mr. Lippman is a major contributor to Feed The Children, sponsoring their
Christmas event in Harlem in December 2000. He also serves on the advisory
board of the Columbia University School of International and Public Affairs.
He is a member of the Information Technology Association of America and a
former trustee of The Washington Institute. He is also active politically as
a fund-raiser for both the Republican and Democratic parties, including
hosting fund-raising events at his home.

Last week, Michael Devaney was elected to replace John Moore as chairman of
the COMEX governors committee, a two-year term in which he will head the
committee which advises the board on matters uniquely pertinent to COMEX
Division members. In that capacity he will attend all Exchange board meetings
to represent the views of the COMEX Division members.

Mr. Devaney has served as vice chairman of the COMEX governors committee for
the past two-and-a-half years; has served on the governors committee since
1994; and has been a member of the Exchange since 1985. He is the owner of
Great Lakes, Inc., an independent floor brokerage operation, and has served
on the Exchange membership, floor, facilities, business conduct, compliance
review, marketing, margin, political action, and rules committees.

Editor,s note: There will be a press luncheon to meet Mr. Viola at 1:30 PM,
Wednesday, March 21, on the 10th floor of the New York Mercantile Exchange
headquarters, One North End Avenue.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"
http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdoc
=(01-98)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


I'll try to get to the court by 4.

>I'm going to DC at 400 on sat.  Julie can stay till 600 -I have a court at
>430 but if you can get there earlier that would be great.  See ya

---------------------------------------------------------------
 Grant A. Cox                          ph: (713) 522-6300
 Groundwater Services, Inc.           fax: (713) 522-8010
 2211 Norfolk, Suite 1000          e-mail: gacox@gsi-net.com
 Houston, TX 77098
---------------------------------------------------------------


Please find attached translation of an article from Too Nippo dated
March 16.

Best regards,
IRJ PR Services

 - Too Nippo 10316.doc


When is it - I can't miss that if its the budget meeting?  It appears to be every day.

I am a bit worried now about next week - I appear to have some real scheduling difficulties.


On Wednesday, October 25, at approximately 7 p.m. CST, you may have received
e-mail messages which appear to have been sent from Andrew Wu/HOU/EES.  These
e-mails were generated as the result of an erroneous messaging agent which
originated on the EES mail system.  The overall effect of the messaging agent
allowed the "auto-reply" of all messages within Andrew Wu's mail file, many
which included the Global Distribution group of "Enron Worldwide".  The Enron
Global Messaging group alerted EES Mail Administration to the event and were
successful in disabling the "auto-reply" agent rather quickly, however,
numerous mail messages had already been delivered to your server mailbox.  If
you received any of these messages, please delete them and do not reply back
to Andrew Wu regarding the receipt of the messages.

We apologize for the inconvenience that this may have caused you and will
strive to ensure that a similar incident does not occur in the future.

Thanks,
Enron Global Messaging Team


ATTENTION N.A. NATURAL GAS INDEX SUBSCRIBERS                                                                                Commencing January 1, 2002, the ICE Daily Index will be distributed at 13:30 EST. Also, the following trading hubs will be added to the existing 27 pricing points:                                                                                1.	ANR-SW                                                                                2.	Consumers                                                                                3.	NGPL-TXOK East                                                                                4.	Panhandle                                                                                5.	TGP-Z0                                                                                6.	Union Gas-Dawn                                                                                7.	Station 2                                                                                Additional hubs will be included once trading volumes reach critical mass as determined by a 90 day standard deviation analysis conducted by ICE.

For further information contact:                                                                                Bud Hum at 312.674.4915 or                                                                                Joe Adevai at 646.792.2620                                                                                IntercontinentalExchange                                                                                HELPDESK 770.738.2101


Carolyn
Do any of these dates work for julia?

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 12/01/00 01:13 PM -----

	Robin Jordan@ENRON COMMUNICATIONS
	11/30/00 04:48 PM

		 To: Carol St Clair/HOU/ECT@ECT@ENRON
		 cc:
		 Subject: Re: Lunch with Julia and Kristina

Carol,

 At the moment she's available 12/7, 12/8 or 12/19.   Let me know this can
change at any minute.   Hope you and all your "BOYS" are doing fine.

Robin Jordan
Office of the General Counsel
Enron Broadband Services
(713) 853-3246
(713) 646-8537 Fax
robin_jordan@enron.net

	Carol St Clair@ECT
	11/30/00 03:57 PM

		 To: Carolyn George/Corp/Enron@ENRON, Robin Jordan/Enron Communications@Enron
Communications
		 cc:
		 Subject: Lunch with Julia and Kristina

Carolyn and Robin:
I would like to take Julia and Kristina out to lunch for Christmas.  Could
you please let me know which date would work best for both of them?  The
following dates are not good for me:

12/5, 12/6, 12/7, 12/8, 12/19,

Thanks.

Carol


o.k.  I think I will create a happy hour today....it's crazy here too!!!!!

   Kate Symes @ ECT                12/08/2000 02:25 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 12-8-00 Checkout

All of these deals are in the traders' books, and we're working right now on
getting them in the system. Market is crazy, prices are insane, traders have
been trapped in meetings all morning trying to get a handle on it. I'm sorry
- we're hurrying.

Thanks,
Kate

Evelyn Metoyer@ENRON
12/08/2000 12:14 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 12-8-00 Checkout

I am missing the following deals:

Jeff Richter-Amerex
Sell   American Electric Power  $525.00           SP 15           12/11/00-
12/11/00       50  on-peak     $.0075  fee

Sean Crandall/Dianna Scholtes- Amerex
Sell  Morgan Stanley Capital Group, Inc.    $2000.00      MID C
12/12/00- 12/31/00   25  on-peak   $.0075  fee

Matt Motley- Prebon
Sell Constellation   $525.00       Mid-C         Q1'01   25 mw on-peak
Sell Nevada Power   $200.00    PV  Q2'01 25 mw on-peak
Sell Nevada Power   $295.00  PV Q3'01   25 mw on-peak

Matt Motley- Amerex
I am missing two deals...I will send you details in a second.

Thanks!!


fee has been added

Stephanie Piwetz   03/29/2001 03:30 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal 563728.01

Kate, can you check fee for above deal    mark fischer
Enron sells constellation
mona
july-sept 01
610.00
we have zero fee, tfs shows .0075    Let me know and we probably need to set
mona delivery point in the system.
Thanks

sp


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Hi Jana,

That looks good. I am ready to take one class soon.
I shall  check with Ludmila.

Vince

Jlpnymex@aol.com on 07/31/2000 09:05:52 AM
To: vkamins@enron.com
cc:
Subject: Fwd: Upcoming Events

Vince

We had such a nice time at dinner on Friday evening. Thank you, again. We
enjoyed meeting Ludmilla, and look forward to meeting your son.  I hope he is
feeling better.

I am forwarding you a newletter from Specs re their wine classes, etc.  I
thought you might enjoy seeing this.  Maybe we can all take one sometime.

Have a good week.

Jana

Return-path: <Pagjlp@aol.com>
From: Pagjlp@aol.com
Full-name: Pagjlp
Message-ID: <cc.80cef2d.26b6df8d@aol.com>
Date: Mon, 31 Jul 2000 09:56:29 EDT
Subject: Fwd: Upcoming Events
To: Jlpnymex@aol.com
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e6VE5vH13861

A FOOD & WINE MATCHING CLASS and A LLANO
ESTACADO DINNER

L'Alliance Francaise presents
MATCHING FOOD AND WINE.
     Have you ever wondered how food and wine go
together? Here?s your chance to learn the basics of food
and wine matching. Learn about the relationship between
the taste of food and the taste of wine. Taste a range of
representative styles of wine including Champagne, three
white (Alsace, Burgundy, Bordeaux), three red (Burgundy,
Rhone, and Bordeaux), and a dessert wine with a variety of
foods and see for yourself what works, what doesn?t, and
why. Find out which are the best wines to serve with fish,
shrimp, pork, beef, even M&Ms.
     MATCHING FOOD AND WINE will be offered on
Tuesday, August 8th at 7:00pm and will cost $42.00 per
person. For directions, reservations, or more information
on this class, please call l'Alliance Francaise at 713-526-
1121. L'Alliance Francaise, the French cultural
organization in Houston, is located at 427 Lovett
Boulevard (on the southeast corner of Lovett and Whitney,
one block south of Westheimer).

Please join SPEC's and LLANO ESTACADO winemaker
Greg Bruni at 7pm on Tuesday, August 1, 2000 for a wine
and food dinner at Simposio Italian Restaurant featuring
Chef Alberto Baffoni's excellent cuisine and the fine
Texas wines of Llano Estacado.
    The reception will feature both Llano Estacado
Signature Red and Signature White served with passed
canapes including Salmon Tartar, Sauteed Mushrooms,
and Tomatoes Concasse. The Dinner will start with a Warm
Seafood Salad with celery shavings and yellow tomato filet
in extra virgin olive oil and lemon juice served with Llano
Estacado Muscat. Then will come a Grilled Veal
Medallion in a creamy brandy and pepper corn sauce
served with Llano Estacado Chardonnay 1998 and Llano
Estacado Cellar Select Chardonnay 1997. The entr,e will
be grilled Lamb Chops with sauteed spinach and a sweet
and sour shallot sauce served with Llano Estacado Cellar
Select Cabernet Sauvignon 1997 and Llano Estacado
Viviano 1996 (Llano?s Bordeaux-Style Red). Our dinner
will conclude with Simposio?s Flourless Chocolate Cake in
Raspberry Sauce served with Llano Estacado Texas Port.
Llano Estacado winemaker Greg Bruni will be on hand to
talk about and answer your questions concerning the
evening's wines, Llano Estacado, and the Texas wine
industry.
     The reception will start at 7:00pm. Dinner will be
served starting at 7:30pm. The cost is $80.00 per person
(cash, $84.21) with a $10.00 discount available for 1,000
SPEC's KEY Points. (This price includes food, wine, tax,
and gratuity.) For reservations or more information, please
call SPEC's at 713-526-8787. Simposio is located at 5591
Richmond Avenue on the southeast corner of Richmond
and Chimney Rock.


I thought you might find this interesting.

JNG
---------------------- Forwarded by John Goodpasture/OTS/Enron on 01/26/2000
02:23 PM ---------------------------

	From:  Jeff Bartlett @ ECT                           01/25/2000 11:53 AM

To: John Goodpasture/OTS/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON
cc:

Subject: El Paso/Coastal slides

Attached please find the (somewhat) final version of the El Paso/Coastal
slides.
Please feel free to forward any corrections/additions to my attention.

Regards,
Jeff Bartlett


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FINAL DAY TO REGISTER - RICE MBA INFO SESSION

PLEASE RSVP BY 12:00 NOON
NOVEMBER 2, 2001

THANKS!

Come learn about the Jones Graduate School of Management at Rice University!  This is your opportunity to meet to meet with individuals from the Jones Office of Admissions, as well as with current students and alumni.

Date:  Monday, November 5, 2001

Time:  6:00 - 8:00 pm

Location:  ECN 5c2

Space is limited, so please email Constance Charles by November 1st to RSVP.

Thanks, and hope to see you there!


Frank:  I think his changes were with respect to addresses, accounts, etc.
Do we need to include an affirmative statement by AG that it assumes all
obligations under the Master?  I'm neutral.

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 03/02/2001 08:48 AM -----

	"David Porter" <David.Porter@glencore-us.com>
	03/02/2001 08:47 AM

		 To: Frank.Sayre@enron.com
		 cc: Brant.Reves@enron.com, Sara.Shackleton@enron.com
		 Subject: Re: Amendment Document

Frank,

I made a few small changes:

(See attached file: Enron ISDA amend.doc)

Please confirm the revised document is acceptable and I will have it signed
and
sent to you as soon as possible

Kind regards

David

 - Enron ISDA amend.doc


Hi Elizabeth,

I've had a couple of originators approach me about working on asset
management type deals, optimizing third parties' power assets and/or
purchase/sale of commodities.  A little birdie told me that you worked on
something somewhat similiar to that a while back, but the deal didn't go.
When you have a minute I would appreciate hearing about what you did.

Thanks,

Kay


Do you think that we should give Susan B., Susan F.  and Tana an expression
of thanks for their work during Marie's departure?  I was thinking that a
gift certificate would be appropriate (e.g., spa services, Enron gift
products, etc.) and it might send the message that we do know and appreciate
their efforts.   Sara


Mark and Jeff,

The Paper & Pulp desk has a customer that they would like to put into a three
year financial deal; however, the credit profile of the customer would
require hefty upfront security.  At the same time, they would like to enter
into a contract wherein ENA purchases all of their production (newsprint) at
index prices.  ENA's payable to this company could run to 10MM/ month.  Can
we draft a netting arrangement that would allow us to net the physical and
financial exposures in the event of a default so that the customer would not
be required to post security for the financial deal?  I think we may have
done something along these lines for a couple of Fred Lagrasta's customers.
I am comfortable that the purchase payable will more than offset the
potential financial exposure, but want to ensure that you are comfortable
that the ability to net these two exposures can be assured through a
contract.  Let me know your thoughts.

Thanks,
Tanya


Shannon,

o:\erms\erm_adm\firmtrad\2001\0401\Regions\NGDKRS0401

Thanks,

Errol

From: Shannon McPearson/ENRON@enronXgate on 05/02/2001 10:28 AM
To: Errol McLaughlin/Corp/Enron@ENRON
cc:

Subject: NG Gas Deferred

I need a DPR for the NG Gas Deferred book for April 01.
;
Thanks!
Shannon McPearson
Enron North America
713-853-5944
Shannon.McPearson@enron.com


Brant,  We need to ask PCS Nitrogen if they are a wholly owned subsidiary of
Potash.  If they are not, then Canadian law may prohibit them from providing
a guaranty for a less than wholly owned entity.

I will provide you my comments to the documents shortly after lunch.

	Brant Reves/ENRON@enronXgate
	04/19/2001 10:08 AM

		 To: Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: PCS

 Gerald,

Any update on that PCS guaranty review?  Exposures are pushing past $20MM, a
highly visible exposure.

brant


The following reports have been waiting for your approval for more than 4 days.  Please review.

Owner: Richard P Bergsieker
Report Name: Amex & COP October 2001
Days In Mgr. Queue: 5


Lunch will be provided from CRUMLEYS COGWHEELS


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/13/2000
05:15 PM ---------------------------

Steven Leppard
09/20/2000 06:54 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Exotic options presentation

Vince, here's what I'll be presenting tomorrow...

...hope they're OK.

Steve


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/30/2001
05:58 PM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 03/30/2001 01:13:32 PM
To: vkamins@enron.com
cc:
Subject: Re: Yo!

Vince,

Here is a little more info on the book Bob Darden is writing that might be
useful in explaining who he is talking to at present.

John

>Date: Fri, 30 Mar 2001 12:29:11 -0600
>From: Robert Darden <rfd3@flash.net>
>Subject: Re: Yo!
>X-Sender: "Robert Darden" <rfd3@pop.flash.net> (Unverified)
>To: "John D. Martin" <J_Martin@baylor.edu>
>Organization: The Door
>X-Mailer: Mozilla 4.04 [en]C-FLASHNET  (Win95; I)
>
>You, sir, are a gentleman and a scholar.
>If the research director needs more info on the book, I can send him/her
>whatever they need:
>Publisher: Fleming H. Revell (a division of Baker Books)
>Deadline: May 30
>People who we have already interviewed or who we have tentative
>agreements to interview:
>Jerry Conangelo, Norm Miller, Dr. Kenneth Cooper, Philip Clements,
>George Gallup, Ted Benna, Bob Lawless, Jack Eckerd, Truett Cathey, Ed
>Bonneau, Jay Pifer, Bill Bailey etc...
>Thanks again
>Bob
>
>John D. Martin wrote:
>>
>> At 11:35 AM 3/30/01 -0600, you wrote:
>> >Hi John -- I enjoyed our meeting yesterday. This looks VERY promising.
>> >Meanwhile, as I mentioned at the table, I'm getting a little nervous
>> >about the book that is due June 1.
>> >One of the names on our "wish" list of interviewees for "The Business of
>> >Heaven" is Ken Lay at Enron. (Yes, I'll try to get this for you today)
>> >Would it be possible for you to give me a good address and phone number
>> >for Mr. Lay's office?
>> >And may I mention your name in the cover letter? (Certainly--not that it
>> will necessarily help.  I'll talk to the director of research about your
>> project and see if he can help)
>> >I would be forever indebted. I might even buy the next lunch.
>> >Bob
>> >P.S. Thanks for sharing your concerns about church yesterday, too. I'm
>> >genuinely sorry things didn't work out better and feel more than a
>> >little embarrassed that I didn't work harder to make you guys feel more
>> >welcome and connected. On the other hand, please know that Mary and I
>> >will always love you and consider you both friends. I know you'll be
>> >happy at Lake Shore -- even as we miss you at 7th!
>> >
>> John D. Martin
>> Carr P. Collins Chair in Finance
>> Finance Department
>> Baylor University
>> PO Box 98004
>> Waco, TX 76798
>> 254-710-4473 (Office)
>> 254-710-1092 (Fax)
>> J_Martin@Baylor.edu
>> web:    http://hsb.baylor.edu/html/martinj/home.html
>
John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Things have come up w/Mark & Sara and there is a clear indication from their
front that we need to retain the green files.  Maybe we need to discuss this
with the whole group...?

	Mary Cook
	04/23/2001 09:50 AM

		 To: Stephanie Panus/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Ideas on Blue/Green Files

Per our discussion about a month ago, have you been able to discuss further
ideas regarding how to more efficiently utilize the blue/green files?

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


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John,

I have received your message regarding Mike Roberts. I could not
agree more. Mike deserves to be compensated for his exceptional
contribution.

Additional recommendation. I think that all weather forecasting support
should be consolidated under Mike (including the weather guys supporting
power trading). In my view, it was a mistake to remove Mike from
power support. It would also mean a lot to him personally.

Vince


See attached revised.

Stephanie  -----Original Message-----
From: 	Panus, Stephanie
Sent:	Tuesday, October 16, 2001 1:41 PM
To:	Taylor, Mark E (Legal)
Subject:	Project Report

Attached is my Project Report for October 16, 2001.

Stephanie


Hi:

Here is the latest Auction Item List in Excel.  The list is sorted by
category. If you have trouble opening this attachment, send me what version
of Excel you have and I will resend it to you in that format, if possible.

I will be out of town on Thursday and Friday which is why I am sending this
report early.

I am also attaching a copy of the general solicitation letter in case you
need it.

Thanks,
Peggy Haney <<AUCTION ITEMS 110701.xls>>  <<solicitation letter 2002.doc>>


I'll be out on the 2d.  I'll have Maria participate and pass anything on that
is of particular concern.  Thanks df

Dorothy McCoppin
12/11/2000 03:49 PM
To: Michael Moran/ET&S/Enron@ENRON
cc: Drew Fossum/ET&S/Enron@ENRON

Subject: ETS STAFF MEETING - Jan. 2

Will we have a meeting on Jan. 2 in your office (pre-ETS staff meeting)?
If so, will it be at 8:30 or can it be 9:00 am?

--Dot

---------------------- Forwarded by Dorothy McCoppin/FGT/Enron on 12/11/2000
03:49 PM ---------------------------

Stanley Horton
12/11/2000 01:03 PM
Sent by: Cindy Stark
To: Bill Cordes/NPNG/Enron@ENRON, Shelley Corman/ET&S/Enron@ENRON, Steve
Hotte/Corp/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Phil
Lowry/OTS/Enron@ENRON, Danny McCarty/ET&S/Enron@Enron, Rockford
Meyer/FGT/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Julia
White/ET&S/Enron@ENRON, James Prentice/GPGFIN/Enron@ENRON, Scott
Vonderheide/Corp/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Dave
Neubauer/ET&S/Enron@ENRON, Robert Hayes/FGT/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Dorothy McCoppin/FGT/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Robert Kilmer/FGT/Enron@ENRON, Dan
Pribble/OTS/Enron@ENRON, Michel Nelson/ET&S/Enron@ENRON,
jerry.d.martin@enron.com, Randy Rice/OTS/Enron@ENRON, John
Shafer/OTS/Enron@Enron, James Saunders/FGT/Enron@ENRON, Jerry
Peters/NPNG/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON
cc:

Subject: ETS MONDAY MORNING STAFF MEETINGS

This is to advise you that we will NOT have ETS Monday morning staff meetings
on December 18 or December 25.

Please make note that the next ETS Staff Meeting will be held on Tuesday,
January 2, 2001 at 9:30AM in 49C2.   And then on January 8, we'll resume our
regular schedule of having our staff meetings on Monday mornings at 9:15AM.

Regards and Happy Holidays,
Cindy
X36197


Ben,

Per your request, attached is a clean and compare of the one page indemnity
letter for Cinergy.  Please call with any questions.

Stuart


---------------------- Forwarded by Rufino Doroteo/HOU/ECT on 12/10/99 02:23
PM ---------------------------

	From:  Marilyn Rivera                           12/10/99 02:19 PM

To: joel.rivera@halliburton.com, rebeccar@bcm.tmc.edu, mmartinez@tmh.tmc.edu,
Rufino Doroteo/HOU/ECT@ECT, Nera Swisher/HOU/ECT@ECT, Kelly
Summers/HOU/ECT@ECT, kshama.pandya@telecheck.com, Betty Tauzier/HOU/ECT@ECT,
Mary Birmingham/HOU/ECT@ECT, Janet De La Paz/HR/Corp/Enron@Enron
cc:
Subject: FW: KILLER BEES

---------------------- Forwarded by Marilyn Rivera/HOU/ECT on 12/10/99 02:18
PM ---------------------------

"Villafuerte, Miriam E" <mvillafu@houstonisd.org> on 12/08/99 09:16:09 AM
To: "'Beatrice'" <bduran@hpl.lib.tx.us>, "Hernandez, Cynthia"
<CHERNAN3@houstonisd.org>, "Aragon, Gabriela" <garagon@houstonisd.org>,
"'Gracie'" <ggutierrez@aglife.com>, "Gaspar, Juan M"
<JGASPAR@houstonisd.org>, "'M. Mandujano'" <mandujano4@aol.com>, "'Missy'"
<mvillafuerte@hotmail.com>, "Garay, Alicia" <agaray@houstonisd.org>, Marilyn
Rivera/HOU/ECT@ECT
cc:
Subject: FW: KILLER BEES

Too much fun TRY IT- IT is keeping me VERY BUSY  :)
> ----------
> From:  Ortiz, Orfa R
> Sent:  Wednesday, December 08, 1999 8:11 AM
> To:  Rangel, Anna M; Saenz, Beatrice; Garcia, Berta; Castro, Alma L;
> Silva, Aida; Lopez, Debra S; Leal, Deyanira; Aragon, Gabriela; Gonzales,
> Gloria A; Godin, Julia; 'Karen Alexander'; Balderas, Laura I; Gazdyszyn,
> Lidia; Gonzalez, Lillian; Levendoski, Lori A; Perez, Margaret; Montes,
> Maria; Berbel, Martha G; 'Mauricio Beltran'; Villafuerte, Miriam E;
> Flores, Myrna V; Ortiz, Nazaria; 'Ninfa Jimenez'; 'NOE AND BECKY'; 'nora
> Castillo'; Alvarado, Ofelia; Zapata, Orfa; 'ORTIZ FAM'; 'Pam and Domingo
> Flores'; 'PETRA AND JOSE'; 'Ruben Gonzales'; Sarabia, Samuel D; Griggs,
> Stephanie; 'Torres, Alberta'; Gonzalez, Veronica S; Ebel, Yolanda
> Subject:  FW: KILLER BEES
>
> this is fun!!!!
>
>  <<bees.exe>>
>
>
>

 - bees.exe


Wow, Rebecca was reading my mind!
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/17/2001 12:10
PM ---------------------------

	From:  Rebecca Walker                           01/17/2001 12:02 PM

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

Subject: Intergen Funding

Kay

This memo is to confirm that we used the updated account numbers in the
notice that we will give to the Escrow agent for the closing of the Intergen
deal tomorrow.  Let me know if you need any more information.

Regards,
Rebecca
---------------------- Forwarded by Rebecca Walker/NA/Enron on 01/17/2001
12:01 PM ---------------------------
From: Theresa Vos on 01/12/2001 02:55 PM
To: Rebecca Walker/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron
cc:

Subject: Intergen Funding

For funds that ENA receives and then needs to send out the same day, Treasury
prefers that we use the following account:

 Citibank NY
 4078-1075
 ABA#021000089

Please call me if you have any questions.

thanks,
theresa
x58173


The file


Lindy.

While testing the TMS nomination and scheduling processes that Interface into the new CMS system, I have found a TW Firm contract with Southern Energy Inc. # 26719 that was set up back in May or June of 2000 which has several alt. receipt templates that are outside the primary path. The primay path for this contract is San Juan Bloomfield receipts to Socal Needles as primary delivery. It shows up in production with alt. receipt groups in Central, West Texas, and Panhandle. Is this correct?

Thanks Ramona


unbelievable.  Still hanging on here.  We let go of 4,500 of the 7,500 people in Houston.  Crazy stuff.  Will keep in touch.
PL

 -----Original Message-----
From: 	"Jason Dobbs" <jmjaked@mindspring.com>@ENRON
Sent:	Wednesday, December 05, 2001 7:51 AM
To:	phil love
Subject:	Fw: after the storm...

Another picture of the tornado.  This one only shows a small area that was
hit, but has a good view from above.

----- Original Message -----
From: chris chambless <gwave85@hotmail.com>
To: <e_chambless@yahoo.com>; <jmjaked@mindspring.com>; <Murrywhitt@aol.com>;
<Shane.Dobbs@fctg.com>
Sent: Tuesday, December 04, 2001 12:05 PM
Subject: Fwd: after the storm...

>
>
>
> >From: wayne jones <wjones@telepak.net>
> >To: gwave85@hotmail.com
> >Subject: after the storm...
> >Date: Mon, 03 Dec 2001 17:01:20 -0600
> >
> >harlod bearden sent this to me...from the air... looks bad.. .i seen it
> >sunday.. i went home to see shanda... later.. yeah, we are going to the
> >coast... ill see you there... later the dawg
> >
> >-----------------------------------------------------
> >Click here for Free Video!!
> >http://www.gohip.com/freevideo/
>
>
> _________________________________________________________________
> Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp
>

 - haley_downtown_03.jpg << File: haley_downtown_03.jpg >>


One of Steve Kean's newly formed Working Groups is for "Rates & Tariffs".  I
have been asked to lead this group.  For those of you who don't know me, I am
in Houston in the U.S./Canada Government Affairs group, in a section called
"Rates/Regulatory Services."  Our working group will have about a dozen or so
people from various parts of Public Affairs.  You have been
selected/volunteered to participate in this effort by your group leaders.

The Working Group members are:
Ray Alvarez
Sergio Assad
Roy Boston
Mike Grimes
Kyran Hanks
Rita Hartfield
Nancy Hetrick
Tom Hoatson
Paul Kaufman
Valeria Lima
Bob Neustaedter

Having this group will give us a great opportunity to identify needs related
to rate and tariff issues across many business lines and countries, share
resources, problems and solutions, and generally improve the cohesiveness of
Steve's organization   One of our first tasks will be to think through and
concretely specify what we expect to accomplish as a group.   We do not have
a specific product mandate per se - it will be up to us to figure it out and
deliver it.   Some possibilities are - identifying rates and tariffs policy
positions, developing policies where none now exist, but are needed,
identifying rates and tariff resources available to the group, and acquiring
resources needed by the group.

As a preliminary matter, could you e-mail me your group name, position,
location, phone, e-mail address, and "area of expertise".  We will assemble
this information in a roster to be distributed to the group.

Early in January, we will be in touch to check availability and schedule an
initial meeting.  Please be as flexible as possible.  In some cases, we are
many time zones apart and it will be difficult to match everyone's desired
time.

As a second preliminary matter, please give some thought to and e-mail me
what you think a group like this should accomplish.  Remember, the roster
above has some of the world's leading authorities on rates and tariffs!   We
will compile both the complete roster and your ideas on group goals and
distribute them to everybody prior to our first actual meeting.   At that
first meeting, we will talk through expectations of us and of each other, and
the proposed goals.
Please have your inputs to me by January 7.  I look forward to working with
you.


I'm in no hurry.


I have attached an e-mail from Steve Howard, our atty in the NSM litigation.
Schultes is the original CEO of NSM.  Let me know if you are interested.
----- Forwarded by Richard B Sanders/HOU/ECT on 01/03/2001 05:57 PM -----

	showard@agsk.com
	01/02/2001 04:30 PM

		 To: richard.b.sanders@enron.com
		 cc:
		 Subject: Want to Invest in a Steel Mill in Thailand?

Schultes' lawyer has asked us if John can call an Enron business person
concerning a possible investment by Enron in some reorganized form of the
project that Schultes is pushing.  Think anyone at Enron is interested?  If
so, who?

We told the lawyer that John should not call unless we clear it with you
first.

Steve

................................................

ALSCHULER GROSSMAN STEIN & KAHAN LLP
ATTORNEYS AT LAW
www.agsk.com

2049 Century Park East
Thirty-Ninth Floor
Los Angeles, CA 90067-3213
Tel 310-277-1226
Fax 310-552-6077

This transmission is intended only for the use
of the addressee and may contain information
that is privileged, confidential and exempt from
disclosure under applicable law. If you are not
the intended recipient, or the employee or agent
responsible for delivering the message to the
intended recipient, you are hereby notified that
any dissemination, distribution or copying of
this communication is strictly prohibited.

If you have received this communication
in error, please notify us immediately
via e-mail at postmaster@agsk.com or
by telephone at 310-277-1226. Thank you.

...............................................


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Wall Street Journal and Dow Jones Newswires in Chinese

	November 27, 2000

	Reforms in India Are Tantalizing,
But Debates Cool Investor Ardor
	By DANNY PEARL
Staff Reporter of THE WALL STREET JOURNAL
	NEW DELHI, India -- The tumblers of economic reform have slowly but surely
been turning in India over the past decade, each click resonating through
this nation of a billion people. Lately the prospect of unlocking its markets
has seemed a bit brighter -- but not bright enough to impress foreign
investors.
	Every day, India's financial pages are filled with news of a new opening: a
plan to sell the government's stake in a big car company, the lifting of
controls on the textile industry. But the fine print tells another story:
stubborn hurdles to foreign investment, insistence on public control and open
battles among ministers that could force Prime Minister Atal Bihari Vajpayee
to protect his diverse coalition government rather than take fresh economic
gambles.
	"The debate over reforms will be endless unless there is a crisis, and there
is no crisis around the corner," says Mahesh Vyas, executive director of the
Centre for Monitoring the Indian Economy, a private organization. India is
still coasting along with economic growth above 6% a year.

	Still, there are some worrisome signs. Last month, Standard & Poor's lowered
its outlook on the Indian rupee because of the darker prospects for economic
reform. Foreign investment, already a pittance compared with the rest of
Asia, has slackened recently, and a few big companies, including Enron Corp.
of Houston and British Telecommunications PLC, are freezing some India
investments as their focus shifts to more-developed markets. Just 14% of the
multinational-company executives recently surveyed by AT Kearney said they
were more likely to invest in India than in China; 56% said the reverse.
	Even critics think Mr. Vajpayee's nationalist Bharatiya Janata Party, which
one year ago won a mandate to lead its second coalition government, is
sincere about pushing for further opening of India's statist economy. But
what government officials call the second generation of reforms -- India's
Congress Party launched the first in the early 1990s to allow more private
enterprise -- is meeting stiff domestic resistance. Workers and traditional
Indian businesses are as scared of competition as ever, and the Congress
Party, now in the opposition, is playing on those fears. So the government is
moving in small, often contradictory steps.
	"Their hearts are in the right place," says John Band, executive director of
ASK Raymond James, an affiliate of the American investment bank.
	Here is how the reforms are shaping up in five critical areas.
	Privatization
	India's program of selling off government companies is still mostly talk, but
much of it could come to fruition in the next few months. While the
government probably won't meet its target of raising 100 billion rupees
($2.14 billion) this fiscal year, it is likely India will shed some perennial
money losers. The first could be Air India and its domestic counterpart,
Indian Airlines, both of which have attracted expressions of interest from
foreign airlines including Air France and Singapore Airlines. Divestment
Minister Arun Shourie, who isn't revealing the full list, said on the first
day of the World Economic Forum's "India Economic Summit" in New Delhi Sunday
that before proceeding to formal bids, India will reject suitors who could
pose national-security concerns. India, he said, wants to avoid buyers who
might shut down the beleaguered airlines and keep the lucrative landing
rights.
	Job padding is legendary in India, so fear of job losses is real. Bank
workers fired a warning shot across privatization's bow this month with a
one-day, midweek strike against government banks. The next day, the
government announced it was moving forward anyhow, seeking a law that would
allow it to reduce its stake in public banks below 50%. The move wasn't as
bold as it seemed, though: The law wouldn't actually contemplate a sale of
shares and wouldn't allow any single investor to buy more than 1%. Government
officials pledged to keep the "public character" of the banks.
	Supporters of divestment within Mr. Vajpayee's cabinet are few but
influential. They are concentrating their efforts on a plan to sell the
government's 50% stake in car maker Maruti Udyog Ltd., a joint venture of
Japan's Suzuki Motor Corp. and India's government. But the cabinet is divided
over the sale, and Mr. Vajpayee has to keep all the members of his coalition
happy, including hardline nationalists. This weekend, Mr. Shourie flew to
Bombay to placate leaders of the radical Shiv Sena party who were upset about
the prime minister's recent olive branch to separatists in the embattled
region of Kashmir. One of their demands, he says, was that "Foreigners should
not come to acquire control of the Indian economy."
	Budget pressure may force India to follow through with privatization. The
World Bank has cited concern that India's budget deficit is a whopping 9.6%
of its gross domestic product, though much of the red ink can be traced to
state budgets. Mr. Vyas of the Centre for Monitoring the Indian Economy
believes the real benefits of privatization will come only when the states
start to sell off their bus companies and electric utilities -- but "that's
not even being talked about."
	Media
	India has an unrestrained local press but remains suspicious of foreign
media, especially when they show naked flesh or give their own spin on the
Kashmir dispute. Technology has brought paradoxes: Indians now get scores of
channels by cable TV, but only government-controlled TV over regular antenna.
Foreign magazines and newspapers enter the country freely by the Internet but
cannot print in India. (The Wall Street Journal is among the papers that have
made informal efforts to lift the barrier.)

	The newly appointed information minister, Sushma Swaraj, a BJP hard-liner,
this month seemed to be resolving the issues in favor of openness. At her
prodding, the government suddenly allowed programmers to serve homes directly
by satellite -- but with some tight restrictions on foreign ownership.
Equally worrisome was Ms. Swaraj's explanation for the government's decision
to move forward. Before, she explained, the government had no satellite
facility in India; now it did, and could cut off broadcasts that offend
India's programming code. Ms. Swaraj is looking for ways to regulate Web
sites, too. "They are bound by this code," she said. "As yet there is no
complaint. If there is, we can take care of it."
	Ms. Swaraj started a "national debate" over whether to lift the restrictions
on foreign media; 10 days later ended it with a firm 'no.' But as one door
closes in India, another often cracks open. Private FM radio is expected to
make its debut in the spring. The government has also taken steps to help
film studios get expansion financing, just as Hollywood starts to prowl the
Hindi film industry for investments.
	Telecommunications
	The Vajpayee government has earned broad kudos for its liberalization of
telecommunications, and the results may even help build domestic support for
other reforms. Sales of new telephones have exploded recently as service
improves. In Bombay, which once had five-year waiting lists for new telephone
lines, the government's local-phone company, MTNL, now promises, even if it
doesn't always deliver, hookups in two days. The reason is new competition
from a private group that includes a unit of Hughes Electronics Corp.
	Telecom investment is vital for India because so much of the country's
booming software and call-center business relies on fast communications with
the U.S. The government only recently loosened its control over international
data gateways, a move that Indians hope will alleviate heavy daytime data
traffic jams. Idika Solutions, a software company based in Hyderabad, got in
the habit of downloading files at 6 a.m. to avoid the rush.
	Further reforms should speed up improvements. Next year, Parliament is
expected to pass a "convergence" law, allowing telephone, wireless and data
services to come under the same license. And the following year government
phone company VSNL is scheduled to lose its monopoly on long-distance phone
service.
	Trade
	In theory, India, a member of the World Trade Organization, has no choice but
to open its borders to foreign products, and so far it is sticking to
schedule, passing a new patents law and so forth. But rather than investing
to get ready for free competition, many business families are simply getting
out of manufacturing. Their worry isn't so much luxury goods from the West,
which will still face steep duties even after quotas are lifted in the
spring, but goods like batteries from China and palm oil from Malaysia. The
government is starting to heed the call for more protection: Last week, it
raised duties on cooking oil and listed 131 imported products that would have
to list prices in rupees and register with the Indian bureaucracy.
	The government is also trying to prepare traditional businesses such as
textiles for a world without quotas. Still, the industry is so thoroughly
regulated that it is hard to see India's mild reforms having much effect. For
example, the government just decided to allow big domestic producers to move
into certain products that were reserved for small companies, but it still
requires yarn-spinners to produce 10% of their yarn in a form that can be
used by obsolete hand looms. With certain fabrics, "if I produce it on a
power loom, I'm breaking the law," says Ramesh Chander Kesar, president of
the Textile Association India in New Delhi. "Why should there should be a
restriction?"
	The main reason is that textiles employs an estimated one of every six Indian
workers, and the government is loath to throw them out on the street.
Actually, even when mills close, as many have in central Bombay, mill owners
often have to keep paying the workers and are restricted in their reuse of
the land.
	"If we can fire a worker for not working, that will send a powerful signal.
But there are no votes in it," says Gurchuran Das, former Procter & Gamble
chief in India and occasional adviser to the Congress Party. "Nobody has the
courage to explain to the people the way Clinton had the courage to explain
NAFTA: that jobs will be lost but, in the end, jobs will be created."
	Some less courageous moves are possible: one idea under discussion in New
Delhi is to give labor flexibility to companies that are exporting heavily.
	Finance
	India made some big financial reforms in the early '90s, with liberalization
of interest rates, loosening of currency restrictions and encouragement of
private banking. The country just needs some more money to prime the system.
	The government is approving new financial products, such as derivatives. The
big prize, investment bankers say, would be opening of the
government-controlled mutual fund and pension plans. Right now, they offer
fixed returns. Private investment companies want the government to let them
offer Indians more-aggressive private pensions.
	"They are listening," says Raju Panjwani, managing director of Morgan Stanley
Dean Witter India. "Maybe equities are considered risky, but we can't even
invest in corporate bonds." The government has a plan under study, called
"Project Oasis," that would allow private pension fund management, with some
restrictions.
	Another possible source of long-term capital is insurance, something there
isn't much of in India. The government took a big step last year in allowing
private insurance companies back into India after nearly 50 years. But as the
race to start marketing policies begins, only half a dozen companies have
jumped in. Foreign companies are limited to 26% of each insurance
partnership. That is a problem, because launching an insurance company can
take $75 million, and "there are not that many Indian companies that can
support 74% of that kind of a number," says Gary Benanav, chief executive of
New York Life Insurance Co.'s international unit. The company, which is
launching its India insurance venture in partnership with an Indian
conglomerate, estimates the Indian market could support 50 insurance
competitors.
	"They've made a decision which I don't think in the long run is in the best
interests of India, though I understand it. The colonial era has left a few
wounds here," Mr. Benanav says.
	Write to Danny Pearl at danny.pearl@wsj.com

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


Ina could not get us into the new building tomorrow, so we will not get together after work.  We will plan on going out as a group after we move over.

Mike


Attached are some minor clean-up points to the previous e-mail.


How about 2:30 CST?  Jim

 -----Original Message-----
From: 	Williams, Robert C.
Sent:	Friday, October 26, 2001 10:00 AM
To:	Steffes, James D.
Cc:	Sanders, Richard B.; Tribolet, Michael; Mellencamp, Lisa; Dasovich, Jeff
Subject:	RE: SCE Stipulation

i think we've sent a markup to SCE.  i am available today and agree it would be a good idea to meet.  BTW are you available for a call today at 2 CST to discuss strategy for the mon meet and confer with SCE?

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Friday, October 26, 2001 9:38 AM
To:	Williams, Robert C.
Cc:	Sanders, Richard B.; Tribolet, Michael; Mellencamp, Lisa; Dasovich, Jeff
Subject:	SCE Stipulation

Bob --

Where do we stand on the SCE stipulation?  I want to make sure that our push in SCE doesn't conflict or contradict something we are doing in the PG&E discussions.

Can we meet today?

Jim


Dan, please review the attached documents and provide your comments.  Call
me if any questions (614-324-4537).
---------------------- Forwarded by Cathy A Szasz/OR4/AEPIN on 06/01/2001
04:28 PM ---------------------------

Stacey K Neuweiler
05/31/2001 11:08 AM

To:   Cathy A Szasz/OR4/AEPIN@AEPIN, Donna J Stephens/OR2/AEPIN@AEPIN
cc:

Subject:  WESTEX DOCUMENTS

More pipeline transportation agreements.  These do not need to be processed
immediately, but I would like to have them done as soon as we can.  Thanks.

---------------------- Forwarded by Stacey K Neuweiler/AEPIN on 05/31/2001
11:01 AM ---------------------------

Mary.Poorman@enron.com on 05/31/2001 09:17:06 AM

To:   mjpoorman@aep.com, skneuweiler@aep.com
cc:

Subject:  WESTEX DOCUMENTS

FYI
---------------------- Forwarded by Mary Poorman/NA/Enron on 05/31/2001
08:15 AM ---------------------------

"Charlene Blankenship" <cblanken@ong.com> on 04/27/2001 03:32:14 PM

To:   Mary.poorman@enron.com
cc:

Subject:  WESTEX DOCUMENTS

Per Butch Cheatham's request, I am sending you the following documents:

(See attached file: Exhibit A-Westex Terms and Conditions
Intrastate.doc)(See
attached file: WesTex Gas Service Agreement (Base).doc)(See attached file:
WesTex Transportation Order.doc)

(See attached file: Exhibit A-Westex Terms and Conditions Intrastate.doc)
(See attached file: WesTex Gas Service Agreement (Base).doc)
(See attached file: WesTex Transportation Order.doc)

(See attached file: Exhibit A-Westex Terms and Conditions Intrastate.doc)
(See attached file: WesTex Gas Service Agreement (Base).doc)
(See attached file: WesTex Transportation Order.doc)

 - Exhibit A-Westex Terms and Conditions Intrastate.doc
 - WesTex Gas Service Agreement (Base).doc
 - WesTex Transportation Order.doc


After returning home and reviewing the material handed out at the PGE business review, there are two areas that I think I need to understand better.  The first is PGE's energy positions going forward and the financial exposures to changing prices.  The second is the rate case.  I would be happy to return to Portland to get a more in depth review with a much smaller cast of players.  I am open to suggestions from you.

Given the status of the divestiture process, Jeff wants to make sure he (and subsequently I) have a good handle on these two important issues.

Thanks!


Yes, the list is the final approved counterparty list before the roll out of
the system.  All counterparty lists are due by the close of business
tomorrow.  If you are not sure of what the current approved counterparty
lists are let me know.


245 Park Avenue, NYC, NY 10167;;tel..212-272-2557.

Regards,

Sharon

> -----Original Message-----
> From: Sara.Shackleton@enron.com [SMTP:Sara.Shackleton@enron.com]
> Sent: Wednesday, May 16, 2001 2:38 PM
> To: schernick@bear.com
> Cc: Tom.Doukas@enron.com; Cheryl.Nelson@enron.com
> Subject: RE: Amendment to Enron Corp. $25 Million guaranty of Enron
> Credit  Inc. obligations to Bear, Stearns et als
>
>
> Sharon:
>
> Should we Fed Ex the amendment to you?  If so, please advise address and
> phone number.  Thanks.
>
>
> 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
>
>
>
>
>                     "Chernick,
>
>                     Sharon               To:
> "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>,
>                     Confidential         "'schernick@bear.com'"
> <schernick@bear.com>
>                     Memo-Counsel         cc:     "'Tom.Doukas@enron.com'"
> <Tom.Doukas@enron.com>,
>                     (Exchange)"          "'Cheryl.Nelson@enron.com'"
> <Cheryl.Nelson@enron.com>
>                     <schernick@be        Subject:     RE: Amendment to
> Enron Corp. $25 Million guaranty of Enron
>                     ar.com>              Credit   Inc. obligations to
> Bear, Stearns et als
>
>
>                     05/16/2001
>
>                     09:55 AM
>
>
>
>
>
>
>
>
>
> My fax number is 212-272-5917.
>
> > -----Original Message-----
> > From:   Sara.Shackleton@enron.com [SMTP:Sara.Shackleton@enron.com]
> > Sent:   Tuesday, May 15, 2001 7:39 PM
> > To:     schernick@bear.com
> > Cc:     Tom.Doukas@enron.com; Cheryl.Nelson@enron.com
> > Subject:     Amendment to Enron Corp. $25 Million guaranty of Enron
> > Credit Inc. obligations to Bear, Stearns et als
> >
> > Sharon:
> >
> > I didn't have your phone or fax numbers to keep you in the loop so I am
> > sending this email by way of explanation.
> >
> > You may recall that Anna Meytina and Cheryl Nelson negotiated one or
> more
> > agreements between the Bear companies and Enron Credit Inc.  These
> > documents included the above referenced $25 Million guaranty.  I
> > understand
> > that our respective commercial groups have agreed to an increased
> guaranty
> > cap ($100 Million).  I have learned that Anna is on vacation.  I don't
> > know
> > which Bear lawyer will look into this recent guaranty development so I
> > hope
> > that you will advise us in that regard.
> >
> > Effective May 15, 2001, Enron Corp.  executed an amendment to the March
> > 29,
> > 2001 guaranty to increase the guaranty cap.  I have faxed a copy of this
> > amendment to both Bill Carik and Cheryl Lewis.  Please provide me with
> > your
> > fax number and I will fax the amendment to you.
> >
> > Cheryl Nelson and I look forward to hearing from you.  Please let us
> know
> > how we can further assist.
> >
> >
> >
> >
> > 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
>
>
> #****************************************************************
> Bear Stearns is not responsible for any recommendation, solicitation,
> offer or agreement or any information about any transaction, customer
> account or account activity contained in this communication.
> ***********************************************************************
>
>
>

***********************************************************************
Bear Stearns is not responsible for any recommendation, solicitation,
offer or agreement or any information about any transaction, customer
account or account activity contained in this communication.
***********************************************************************