Doug -- Following up on our discussion, attached is the single definition of
ERCOT Unplanned B product currently traded on EOL.  Although a different
transition can be arranged with EOL, they ordinarily show a 'banner' on the
day that the product change is instituted and for a couple days afterwards,
stating that the product definition has changed and very briefly summarizing
the change.  Let's talk about what should be done to the definition below.
My understanding is that new Operating Guides are not being published at or
before the June 1 market transition.

----- Forwarded by David Portz/HOU/ECT on 05/07/2001 05:50 PM -----

	Chris Walker/ENRON@enronXgate
	05/07/2001 05:35 PM

		 To: David Portz/HOU/ECT@ECT
		 cc:
		 Subject: ERCOT language

David,

Here is the current description as it appears on EnronOnline.

US Pwr Phy Unp B ERCOT Peak              Jun01           USD/MWh

A US Power Transaction with Enron Power Marketing, Inc. under which the
Seller shall sell and the Buyer shall purchase a quantity of Unplanned B
energy as defined in Section E of Operating Guide No 1 - System Control  of
the most recent version of the Operating Guides of the Electric Reliability
Council of Texas, Inc. ("ERCOT") equal to the Hourly Quantity at the Contract
Price.  The Contract Price shall be as submitted by the Counterparty via the
Website.
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jun 2001 to the Termination Date 30
Jun 2001.
The transaction is for delivery or receipt of energy within ERCOT that is
"Undelivered" in accordance with the most recent version of the ERCOT Market
Guides.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hours
(MWh) and the quantity shown shall be in MW's delivered in each applicable
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0700 (6:00 am) and concluding with the hour ending 2200
(10:00 pm) Central Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.

CW
3-7533


To update...

I spoke with Kevin Calhoun at Aquila Energy yesterday and informed him that
at this time ENA would not be willing to waive the 30 day notice period
provided for under the Section 6.1 of the Cash Flow Interest Agreement.  I
suggested that ENA would consider such a waiver once we had developed a more
detailed understanding of the proposed transaction(s) related to the Onondaga
Cogeneration, L.P.

I spoke with Kevin this afternoon and asked him if any of the potential
buyers of the OCLP/NIMO ISDA Swap Agreement were affiliate entities of Aquila
Energy.  He indicated that all of the potential buyers that Aquila Energy is
contemplating a transaction with are third-party, non-affiliate entities.  I
reminded Kevin of our "topping offer" rights under Section 7.4, and that ENA
is entitled to receive (and OCLP is obligated to deliver) a detailed copy of
any affiliate transactions that OCLP is considering.  He said he understood
these ENA rights and reaffirmed that Aquila Energy is not contemplating a
transaction with any affiliate entities.

I told Kevin that we would continue to work out the issues on the CA.  Once
the CA is executed, he will forward us the ISDA Swap documents for our
review/evaluation.

Call me to discuss.

Fred


?
?	VentureWire
	Wednesday, June 06, 2001		?
?	CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND	VentureWire Index
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		top stories

		  Napster Closes Licensing Deal With MusicNet
		  CEO Of Comdisco Ventures Resigns As Unit Winds Down
		  Charter Growth Capital Changes Name to Focus Ventures
		  Movaz Signs Up $62M Equity and Debt in Second Round

		TODAY'S FEATURES
		Alien Technology in Talks for Fortune 500 Backing
		By Michelle Tsai
		Alien Technology, which has developed a novel technology for packaging
integrated circuits, has been holding talks with Fortune 500 products and
packaging companies as it looks for strategic partners as part of its
upcoming $40 million round, according to company CFO John Hemingway. more>>
		UPCOMING EVENTS
		June 26-27: San Francisco
		Enterprise Outlook 2001
		Over $2 billion invested in enterprise software so far this year! Click here
and hear Dick Shaffer's interview with ON24 discussing analysis of this
industry and previewing the upcoming Enterprise Outlook. Only 3 weeks until
Enterprise Outlook, so register today!

		Time is money and time can be saved through
		effortless, streamlined Web-based enterprise
		services.

		As IBM preps to launch Web-based software
		allowing for smoother enterprise-application-
		integration, it will face competition from the
		likes of Hewlett-Packard, Microsoft, Oracle and Sun.
		Which will attract the greatest number of
		developers and customers in the Web-services
		arena?

		Hear what Steven Mills, Senior VP & Group
		Executive of IBM Software, has to say about
		IBM's latest at Enterprise Outlook, June 26 & 27.

		Register today:http://www.enterpriseoutlook.com/register.asp

		new money

		  InsureZone Secures $8.2M Round One from Buena Venture
		  M&A Research Firm Mergermarket Raises $4.2M Round One
		  Motorola Makes Strategic Investment in Epicentric
		  Professional Sourcing Firm Efficio Gets $1M in Seed Funding
		  Clustra Gets $3M in Series B From Sun Microsystems
		  Dutch Drug Discovery Firm Screentec Gets $5.5M Round One
		  Medical Devices Firm AtriCure Gets $5 Million Round One
		  MEMS Devices Manufacturer Verimetra Closes Series A
		  Networking Firm OmniCluster Gets $4M More in Series A
		  e-Business Provider DataCert Raises $5 Million Series B
		  Project Time & Cost Raises Second Round Funding
		  Clickmarks Lands Series C Funding from Protege
		  Net Infrastructure Firm Urbanpixel Closes Series B
		  Pirelli Invests $12M in Network Equipment Firm Alloptic
		  Vibration Technology Stirs Up $1.4M in Round Three
		  e-Commerce Solutions Raises $4 Million Fifth Round
		  GotMarketing Gets $3 Million in Round Three
		  Mobile App Firm FolloWAP Gets $2M from Mustang Ventures

		bad news

		  E-Commerce Services Firm WhatsHotNow.com Closes
		  B2B E-Commerce Services Firm Hologix Shutting Down
		  Streaming Media Ad Services Firm Hiwire Cuts 17
		  With No Buyer in Sight, TerraShare Shuts Down
		  Ditto.com Ceases Operations, Plans To Sell Remaining Assets
		  The Dock Shuts Down After Failing to Find Funding
		  MetaTV Acknowledges Charges Against CEO

		new products

		  eToll Charges Ahead Under New Name FastForward
		  AmEx & Others Launch Intranet Portal Firm Workadia

		m&a

		  Messaging SoftwareFirm SetNet Buys Selfswitch
		  Torque Systems Acquires Graphics ISP Digital Art Exchange
		  Omnicom Group Acquires Consulting Firm Wolff Olins
		  Employment Wizard Merges with CareerSite

		new directors

		  AT&T Broadband Exec Joins Into Networks Board
		  Proceler Appoints Informatica Head to Board

		new people

		  Blackboard Names Ex-Prometric Thomson CEO as Pres., COO
		 Alerts Hires Within; Replaces Co-Founder in Pres. & CEO Role
		  Transaction Monitoring Provider Xtremesoft Appoints New Head
		  Ellipsus Systems Names Connect Things Execs to Top Posts
		  Global Metro Promotes from Within for First CEO Appointment

		vc personnel

		  Conning Capital Names Ex-Progressive Exec as Partner
		  Newbury Ventures Adds Two Venture Partners

		vw corrections

		  Optium
		  iWitness

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

		top

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

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

		 top stories
		?
		Napster Closes Licensing Deal With MusicNet
		 mail? top

		 SEATTLE (VENTUREWIRE) -- Napster, the music file-sharing service, has said
it will join the digital distribution platform, MusicNet, an online
subscription music venture backed by RealNetworks as well as major record
labels AOL Time Warner, EMI Group, and Bertelsmann. Through the agreement
MusicNet will license its technology and music catalog to Napster which will
sell the music as a subscription-based service under its own brand. MusicNet,
which will launch later this year, offers the music catalogs of its record
label backers. Napster still must satisfy the legal and security requirements
imposed on it after losing a copyright infringement suit earlier this year.
AOL Time Warner and EMI were among the parties that brought the suit. Napster
is backed by investors including Bertelsmann and Hummer Winblad Venture
Partners.
		http://www.musicnet.com
		http://www.napster.com

		CEO Of Comdisco Ventures Resigns As Unit Winds Down
		 mail? top

		 ROSEMONT, Ill. (VENTUREWIRE) -- James P. Labe, the CEO of Comdisco Ventures,
has resigned, as the troubled company's venture capital unit apparently winds
down, VentureWire has learned. A spokesperson for the Rosemont, Ill.-based
parent company confirmed that Mr. Labe left within the last month, as well as
earlier reports of layoffs within Comdisco Ventures. Mr. Labe, who served
with Equitec Financial Group before joining Comdisco, founded Comdisco
Ventures in 1987.  His resignation comes as the parent technology services
firm is undergoing a large restructuring, including layoffs of up to 10% of
its North American workforce, and has retained McKinsey & Co. and Goldman
Sachs to help it evaluate its future. Most of those layoffs have occurred at
its corporate headquarters. Comdisco also cut 15% of Comdisco Ventures'
staff, which was first reported by the Chicago Tribune. The venture unit
stopped making new investments in January. When contacted, Comdisco Ventures
said it was focused on its current portfolio and declined to comment further,
saying it would be &inappropriate8 to do so. Comdisco at one time considered
issuing a separate tracking stock for its venture unit, which began as a
lease financing arm but moved heavily into venture capital investing in
recent years. Comdisco reported an operating loss of $8 million and a net
loss of $54 million for its second quarter. It also had to write off several
investments from the venture unit. &We believe the charges taken with respect
to Comdisco Ventures were necessary given the recent and rapid decline in the
economic environment for venture capital-backed companies,8 the company said
in a statement last month. Comdisco Ventures portfolio companies include
Everypath, a San Jose, Calif. company that provides a mobile application
platform; Homes.com, a Menlo Park, Calif.-based provider of marketing and
productivity applications for real estate companies that filed for Chapter 11
bankruptcy protection in March; Mobilocity, a New York-based professional
services firm focused on remote computing; Optical Solutions, a Minneapolis
provider of fiber optic voice, video, and data technology; and Pirus
Networks, an Acton, Mass.-based IP storage networking company.
		http://www.comdisco.com

		Charter Growth Capital Changes Name to Focus Ventures
		 mail? top

		 PALO ALTO, Calif. (VENTUREWIRE) -- Charter Growth Capital, a venture capital
firm that  invests in expansion-stage communications and software companies,
announced it has changed its name to Focus Ventures. The new name
differentiates Focus Ventures from Charter Venture Capital, an early-stage
venture capital firm under the holding company Charter Group. Although Focus
Ventures had no legal relationship with Charter Group as Charter Growth
Capital, a spokesperson said the firm had and continues to have a working
relationship with Charter Group. Focus Ventures and Charter Venture Capital
have limited partners in common. Charter Growth Capital has also changed the
names of its two funds to Focus Ventures I and II. No change in investment
strategy or staff accompanies the name changes. Roughly $200 million of the
$465 million Focus Ventures II fund has been committed, according to general
partner, George H. Bischof. Of the 32 companies in the second fund, "several"
are poised to go public when market conditions improve, and seven will seek
further financing this year, he said. One dot-com from the fund has shut
down. Focus Ventures expects to make between 15 and 25 new investments over
the next 12 months from its second fund, according to Mr. Bischof. Each
company typically receives between $7.5 million and $10 million in total. The
pace of investment at Focus Ventures has slowed to five investments in the
first quarter this year, said Mr. Bischof. In prior quarters the firm did
eight to 10 such deals. The pace will likely slow even more for the second
quarter, but is expected to pick up again in the third quarter, he said. Mr.
Bischof said Focus Ventures would likely be in the market for its third fund
in early- or mid-2002, but declined to indicate fund size. Focus Ventures
raised $106 million for a first fund in 1997 and a second fund closed in
December 1999 at $465 million. The firm has five general partners, four
associates, and a finance manager.
		http://www.focusventures.com

		Movaz Signs Up $62M Equity and Debt in Second Round
		mail? top

		 NORCROSS, Ga. (VENTUREWIRE) -- Movaz Networks, which develops optical switch
and routing products, said it closed $62 million in second-round funding,
with $52 million in equity and $10 million in debt financing. Meritech
Capital Partners, Menlo Ventures, Oak Investment Partners, Silicon Valley
Bank, and Worldview Technology Partners are providing the equity financing.
Silicon Valley Bank led the debt financing with GATX Ventures. New investor
Oak Investment Partners led the equity round, which also included new
investors Meritech and Silicon Valley Bank. Movaz said the funding would be
used for full-scale production of its integrated software package for
telecommunications networks. After introducing its product line at the
SuperComm conference in Atlanta this week, Movaz plans on commercially
launching it in the third quarter. Movax previously raised $30 million in
September 2000 from Menlo Ventures and World Technology Partners.
		http://www.movaz.com

		 new money
		?
		InsureZone Secures $8.2M Round One from Buena Venture
		 mail? top

		 FORT WORTH, Texas (VENTUREWIRE) -- InsureZone, which provides an online
insurance marketplace, said it has secured $8.2 million in first-round
funding from Buena Venture Associates. Post-money, InsureZone is valued at
approximately $76 million. About two-thirds of the new funding, or $5.6
million, is earmarked for technology development, with the remainder of the
funds dedicated to working capital. President and CEO J. Russell Reid expects
the new funds to carry the company to profitability by the fourth quarter of
this year. InsureZone was launched in April 1999 as a wholly owned subsidiary
of business-to-business provider Lexica, a portfolio company of Buena Venture
Associates. In July 2000 the company merged with insurance broker
Higginbotham & Associates and has received operational support in the form of
debt financing from Buena Venture from the time of the merger until this
round. InsureZone is currently raising a second round, between $5 million and
$10 million, to close by fall.
		http://www.insurezone.com

		M&A Research Firm Mergermarket Raises $4.2M Round One
		 mail? top

		 LONDON (VENTUREWIRE) -- Mergermarket, an Internet publisher of mergers and
acquisitions research for advisers and corporations, announced it has raised
a GBP 3 million ($4.2 million) first round from new investor ProVen Private
Equity and NewMedia Spark, a previous investor. Mergermarket was valued at
$12.1 million post-money in this round, up from $2.8 million when the company
raised $990,000 in seed funding. Mergermarket said it will use the funding to
consolidate its position in Europe, expand U.S. activities, and take
advantage of publishing opportunities online and with traditional methods.
Mergermarket, which was founded in January 2000, has 33 employees and
operations in the U.K., Germany, and the U.S. Regent Associates, a corporate
finance adviser for technology companies, advised Mergermarket in this round.
		http://www.mergermarket.com

		Motorola Makes Strategic Investment in Epicentric
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Epicentric, a provider of portal-platform
software and services for e-business networks, said it received an
undisclosed "significant" equity investment from Motorola Ventures, the
strategic capital arm of Motorola and a customer and partner of Epicentric.
The investment is part of a follow-on to Epicentric's $41 million Series D
round of funding it announced in March. Vincent Fleming, CFO of Epicentric,
said the company will use the funding to support its services and reach
profitability by the end of the year. Motorola will receive observer rights
on Epicentric's board of directors. Mr. Fleming said the company will close
its Series D round by the end of the year with under $50 million. Epicentric
has raised more than $81 million to date from Autodesk Ventures, Bowman
Capital Management, Capital Research Management, Chase Capital Partners, Dain
Rauscher Wessels, Essex Investment Management, Information Access Technology,
Innovacom, Interactive Minds Ventures, J.P. Morgan Capital, New Vista
Capital, Putnam Investments, Reuters, Sandler Capital Management, and U.S.
Bancorp Piper Jaffray Ventures.
		http://www.epicentric.com

		Professional Sourcing Firm Efficio Gets $1M in Seed Funding
		 mail? top

		 LONDON (VENTUREWIRE) -- Efficio, a professional sourcing network for
nonproduction materials and services and for Internet-based tools to help
midsize and larger corporations reduce operating costs, said it has secured
$1 million in seed funding from Corven Ventures, the investment arm of Corven
Group. Gautam Singh of Corven will take a seat on Efficio's board of
directors. Efficio, which focuses on indirect materials and services such as
telecommunications, travel, office supplies, and utilities, was founded last
summer by a team of former A T Keraney senior consultants, and is headed by
CEO Jens Pederson. The company, which has offices in the U.K. and Germany,
said it plans to expand across Europe over the next two years.
		http://www.efficio.com

		Clustra Gets $3M in Series B From Sun Microsystems
		 mail? top

		 OAKLAND, Calif. (VENTUREWIRE) -- Clustra Systems, which provides software
database systems, announced it has received $3 million from Sun Microsystems
as part of Series B funding. With the funding from Sun, the Series B now
totals $22 million and post-money valuation is approximately $60 million.
Sun, a new investor, participated in the round under the terms set by Clarity
Capital. Mustang Ventures, VantagePoint Venture Partners, and Telesystem-Argo
Global Capital also contributed to the round. Rick Cattell of Sun
Microsystems gains an observer seat on the board as a result of the funding.
CEO Gary Ebersole said Series B financing will last into the middle of 2002.
The company will likely raise between $20 million and $30 million in a
mezzanine round in the first half of 2002, with an eye toward filing for an
IPO in the first half of 2003, he said. Clustra has raised a total of $32
million from Clarity Capital,  Mustang Ventures, Sun Microsystems,
Telesystem-Argo Global Capital, and VantagePoint Venture Partners.
		http://www.clustra.com

		Dutch Drug Discovery Firm Screentec Gets $5.5M Round One
		 mail? top

		 LEIDEN, Netherlands (VENTUREWIRE) -- Screentec, a developer of
drug-discovery technologies based on integrated biomolecular screening and
chemical analysis, said that it received EUR 6.5 million ($5.5 million) in
first-round funding from Alafi Capital, Life Sciences Partners, and Prelude
Trust. Life Sciences Partners led this round. Prelude Trust participated with
an investment of $2.7 million. Post-money, Screentec has a valuation of
approximately $12.7 million. As a result of this financing, Andy Allars of
Prelude Trust and Mark Wegter of Life Sciences Partners have taken seats on
Screentec's four-member board of directors. The company said it plans to
dedicate the funding to product development and expects it to last about two
years, with another round of financing anticipated before the company reaches
profitability. Prior to this round Screentec received strategic backing from
pharmaceutical firm Bayer.
		http://www.screentec.nl

		Medical Devices Firm AtriCure Gets $5 Million Round One
		 mail? top

		 CINCINNATI (VENTUREWIRE) -- AtriCure, a developer of medical devices, said
it raised $5 million in first-round funding from Charter Venture Group,
Partisan Management Group, and U.S. Venture Partners. U. S. Venture Partners,
a new investor, led the round. The company expects to launch its product, a
minimally invasive technology to treat atrial fibrillation, next year.
		http://www.atricure.com

		MEMS Devices Manufacturer Verimetra Closes Series A
		 mail? top

		 PITTSBURGH (VENTUREWIRE) -- Verimetra, which manufactures devices using
micro electro mechanical systems (MEMS), said it closed its Series A at an
undisclosed amount with funding from Venture Beginnings, Pittsburgh Gateways,
and private investors. The company reports that its burn rate is $37,000 a
month, and it expects to break even by the end of 2003. It anticipates under
$1 million in revenues this year. The company said that the money will be
used to increase manufacturing capabilities and to increase its technical
staff. An undisclosed private investor will become the fifth member of the
board of directors. The company was founded in January 2001 by chief
technology officer, Kyle Lebouitz, and president and CEO, Michele Migliuolo.
Mr. Migliuolo said he will begin raising a Series B in August. He hopes to
close it by the end of the year.
		http://www.verimetra.com

		Networking Firm OmniCluster Gets $4M More in Series A
		 mail? top

		 BOCA RATON, Fla. (VENTUREWIRE) -- OmniCluster Technologies, a provider of
hardware and software designed to create clustered server systems within
standard host servers, said that it has received approximately $4 million in
additional Series A funding from Mellon Ventures and unnamed individuals.
This investment brings OmniCluster's first-round financing to $10 million.
HIG Capital led the round with participation from Crossbow Ventures. CEO
Chris Fleck said he anticipates that this round will carry the company
through to 2002, with an eye to profitability by 2003. The company plans to
dedicate the new funding to product development as well as sales and
marketing.OmniCluster is currently shipping product. As a result of this
financing, Max Chee, vice president of Mellon Ventures, has been granted a
seat on the company's board of directors. Prior to this round the company
received backing from IBM and unnamed individuals. The company expects to
seek $10 million to $15 million in Series B within a year.
		http://www.omnicluster.com

		e-Business Provider DataCert Raises $5 Million Series B
		 mail? top

		 HOUSTON (VENTUREWIRE) -- DataCert, a provider of e-business services for the
secure exchange of information between trading partners and applications,
said that it raised $5 million in Series B funding from Kestrel Document
Services, Palmetto Partners, UPS, and unnamed individuals. Palmetto Partners,
a new investor, led the round. Post-money, the company is valued at
approximately $22 million. DataCert plans to dedicate the funding to product
development as well as sales and marketing. Citing an "ever diminishing"
monthly burn rate currently set at $200,000, DataCert president and CEO Eric
M. Elfman is eyeing profitability by the first half of next year. As a result
of this financing, Don Schad, an officer with Kestral Document Services, will
represent the Series B investors on the company's six-member board of
directors. Currently, DataCert's services are geared toward the legal
industry but the company plans to expand into the insurance and healthcare
markets by 2002. In July 2000, DataCert secured $2.2 million in Series A
capital from UPS and unnamed individuals. The company anticipates raising one
more round of funding, north of $10 million, by the middle of next year.
		http://www.datacert.com

		Project Time & Cost Raises Second Round Funding
		 mail? top

		 ATLANTA (VENTUREWIRE) -- Project Time & Cost, an insurance services firm and
parent company of ptc-NET, said it raised an undisclosed amount in
second-round funding from GSC Partners. It also said it appointed Clint
Owings as the new chairman for ptc-NET, which is a direct repair service for
light-commercial and homeowner claims. The company said the funding will be
used to develop methods to make homeowner claims more effective and
efficient. Mr. Owings formerly served as president of ptc-NET and has been
with Project Time & Cost since 1991, holding various positions, including
senior cost engineer and executive vice president before his promotion to
president of ptc-NET in 1999.
		http://www.ptcinc.com

		Clickmarks Lands Series C Funding from Protege
		 mail? top

		 FREMONT, Calif. (VENTUREWIRE) -- Clickmarks, which provides software
infrastructure for enterprises and wireless carriers, announced it has
received a strategic investment from Protege Group, an investment firm and
incubator. The amount invested was undisclosed. Funds from new investor
Protege are part of Series C financing, which initially closed just under $11
million in February. Draper Fisher Jurvetson ePlanet Ventures led the round,
with participation from undisclosed corporate and institutional investors.
With a burn rate of less than $1 million a month, the company expects to
break even in the second quarter of 2002, CEO John Huyett said. Revenues this
year are expected to total more than $5 million, up from $2 million in 2000,
Mr. Huyett said. Protege will provide Clickmarks with sales offices in
London, Munich, and Paris. European sales currently account for about a
quarter of company revenues, and are expected to comprise up to 40% of
revenues in the next 18 months. Clickmarks may raise a round of strategic
financing in 2002, according to Mr. Huyett. The company has raised
approximately $20 million to date from Draper Fisher Jurvetson ePlanet
Ventures, New Millennium Capital, Protege R.B. Webber and Co., Refco Group,
and Silver Lake Venture Partners.
		http://www.clickmarks.com

		Net Infrastructure Firm Urbanpixel Closes Series B
		 mail? top

		 GRANDVILLE, Mich. (VENTUREWIRE) -- Urbanpixel, a provider of enterprise
applications for visualizing and organizing information, announced it has
received Series B funding from XR Ventures, the strategic venture capital
group for X-Rite, and individual investors. The company declined to disclose
the amount it raised. Peter Banks, managing partner at round leader and new
investor XR Ventures, takes the fifth seat on Urbanpixel's board of
directors. The new money will be used for sales and marketing and is expected
to last up to a year. Urbanpixel will begin fundraising in three months to
raise Series C funding, said CEO Ishantha Lokuge. In February 2000, the
company raised an undisclosed amount of Series A funding from The Walter
Group.
		http://www.urbanpixel.com

		Pirelli Invests $12M in Network Equipment Firm Alloptic
		 mail? top

		 LIVERMORE, Calif. (VENTUREWIRE) -- Pirelli Cavi e Sistemi, a publicly traded
company that manufactures telecom and energy cables and systems, said it will
invest $12 million in Alloptic, which provides optical network hardware
equipment, as part of an agreement to co-develop and co-market products. With
this investment, Pirelli acquires a 13.7% stake in Alloptic as well as one
director seat and one observer seat on the Alloptic board. Under the
agreement the companies will co-market products, with Pirelli distributing
products outside North America and Alloptic doing so within North America.
The companies will also jointly develop new optical network hardware
equipment. Prior to the investment from Pirelli, Alloptic had raised
approximately $19.7 million from Blackstone Group, Driehaus Capital, CMS
Partners, GMS Capital Partners, Ohio Valley Venture Fund, and Scientific
Atlanta.
		http://www.alloptic.com
		http://www.pirelli.com

		Vibration Technology Stirs Up $1.4M in Round Three
		 mail? top

		 GLASGOW, Scotland (VENTUREWIRE) -- Vibration Technology, which manufactures
seismic acquisition systems for use in land seismic surveys for oil and gas
companies, has raised GBP 1 million ($1.4 million) in a third round of
financing. Participants in this round were: The Department of Trade and
Industry (DTI); Generics AG; Nova Technology Fund; Yorkshire Fund Managers,
which participated on behalf of British Smaller Technology Companies VCT; and
individual investors. All institutional participants in this round were
first-time investors in Vibration Technology. Lead investor Yorkshire Fund
Managers provided $353,000, Nova Technology Fund contributed $494,000,
private investors $207,000, Generics AG $141,000, and DTI $205,000.
Post-money valuation for Vibration Technology was $4.9 million. Vibration
Technology had raised $847,000 in two prior rounds from Eastern Scotland
Investments: Scottish Technology Fund, which no longer exists and individual
investors. Eastern Scotland Investments did not invest in the third round.
The company said the funding will be used mainly to develop prototype seismic
systems. The company's first products are expected to launch early next year.
Vibration Technology anticipates closing a fourth round in September.  The
company said it has already secured a lead investor and third-round investors
will most likely participate in the new round.
		http://www.vibtech.co.uk

		e-Commerce Solutions Raises $4 Million Fifth Round
		 mail? top

		 STAMFORD, Conn. (VENTUREWIRE) -- e-Commerce Solutions (ECS), which develops
and manages outsourced e-commerce applications and systems, said it has
received $4 million in its fifth round of financing from Connecticut
Innovations and Davenport Capital Ventures. Connecticut Innovations and
Davenport Capital Ventures, both previous investors, co-led the financing,
which was a down round. ECS anticipates that new funds will last until the
end of the year, when the company expects to reach profitability. The company
said it plans to dedicate the new funds to business development as well as
for technology research and development. As a result of this financing, there
were two new appointments to the company's five-member board of directors:
Aron Galinovsky, vice president of operations of Davenport Capital Ventures,
and Peter Longo, managing director of investments of Connecticut Innovations.
		http://www.ecsnetwork.com

		GotMarketing Gets $3 Million in Round Three
		 mail? top

		 CAMPBELL, Calif. (VENTUREWIRE) -- GotMarketing, a developer of Web-based
self-serve e-mail marketing software, said it has closed $3 million in
third-round financing from Celtic House and individual investors. Celtic
House, a minor existing investor, led the round. Prior investors BCE Capital,
Protege, and XDL Intervest did not participate. Company valuation did not
decrease in this round, said CEO Lynda Partner. GotMarketing said Andrew
Waitman, managing general partner at Celtic House, will join its board,
bringing the number of directors to four. The company reserves a fifth seat
for an outside director with extensive marketing experience with small
businesses. The new money will launch the company's suite of e-mail marketing
products, and enable GotMarketing to add to its business development team as
well as to enter into more strategic partnerships. The staff will grow from
40 to approximately 50 by the end of the year, with most additions to the
business development and customer service divisions. GotMarketing said it had
"negligible" revenues in 2000, but expects to break even before the middle of
next year. This third round of financing is expected to be the last, said Ms.
Partner. GotMarketing has raised $9.4 million to date.
		http://www.gotmarketing.com

		Mobile App Firm FolloWAP Gets $2M from Mustang Ventures
		 mail? top

		 NEW YORK (VENTUREWIRE) -- FolloWAP, a provider of a services platform and
applications for wireless operators, said it received $2 million in funding
from Mustang Ventures, the venture arm of Siemens Information and
Communications. In conjunction with this investment, Siemens Information and
Communication mobile group has established a commercial partnership with
FolloWAP for integrating its flagship iFollow product into Siemens' existing
and future mobile offerings. In February, FolloWAP raised $10 million in
equity funding led by Carmel Ventures, with participation from Star Ventures
and previous investors The Israel Corporation and Koor Corporate Venture
Capital.
		http://www.followap.com

		 bad news
		?
		E-Commerce Services Firm WhatsHotNow.com Closes
		 mail? top

		 LOS ANGELES (VENTUREWIRE) -- WhatsHotNow.com (WHN), an e-commerce service
provider for the licensed merchandise industry, has shut down. WHN's clients,
including Fox, TVGuide, Comedy Central, and NBC have all posted notes on
their Web sites informing customers their online stores are temporarily down.
"We were told last week and it happened very quickly," said Aileen Budow,
director of corporate communications for Comedy Central, referring to WHN's
closing. "We're in a unique position. Our online store is doing great, it's a
wonderful revenue stream, we just need a new distributor." Ms. Budow said the
company is currently speaking with other vendors. "We kind of got the feeling
things were not on the up and up with them," said a spokesperson for MobShop,
which provided B2B services to WHN. "We figured it was happening." WHN could
not be reached for comment. The company received funding from Citigroup
Investments, Comcast Interactive Capital, Dawntreader Fund I, GE Capital
Equity Investments, TH Lee Putnam Internet Partners, Value Vision
International, WaterView Partners, and individual investors Frank J. Biondi
Jr. and Michael Fuchs.
		http://www.whn.com

		B2B E-Commerce Services Firm Hologix Shutting Down
		 mail? top

		 PHOENIX  (VENTUREWIRE) -- Hologix, a provider of business-to-business
e-commerce  software and services, is closing down, according to a company
spokesperson. The spokesperson said the company, which had approximately 120
employees, could not raise the Series C funding it needed to remain
operational. Hologix is seeking a buyer for its technology. The company
received $15 million in its second round of financing in January 2000 from
Adams Capital Management, Insight Capital Partners, Integral Capital
Partners, and Kemper Ventures.
		http://www.hologix.com

		Streaming Media Ad Services Firm Hiwire Cuts 17
		 mail? top

		 LOS ANGELES (VENTUREWIRE) -- Hiwire, a provider of advertising services for
streaming media content providers, said it laid off 17 employees, slightly
less than a third of its staff. A company spokesperson said it made the
layoffs to cut costs as it seeks to close a round of funding. "It absolutely
in no way affects our broadcast base," said the spokesperson. "We definitely
plan to close a third round." Hiwire's investors include Grey Ventures, New
Enterprise Associates, and Zone Ventures.
		http://www.hiwire.com

		With No Buyer in Sight, TerraShare Shuts Down
		 mail? top

		 ALEXANDRIA, Va. (VENTUREWIRE) -- TerraShare, a Web-hosting service and
network provider of topic-specific portals, said it will end its Web-hosting
service and shut down the company. Co-founders Joe O'Brien and John Gregory
said in a statement on TerraShare's site that "attempts to find additional
advertisers for the site or someone to acquire the company ultimately proved
unsuccessful." Since the end of January, TerraShare's staff has been working
without pay, the co-founders said. The company first announced its plan to
find a buyer in March, when it hired the investment bank Alterity Partners to
aid the company's search. In October 2000, TerraShare raised $2.1 million in
Series A funding from the Aslan Group.
		http://www.terrashare.com

		Ditto.com Ceases Operations, Plans To Sell Remaining Assets
		 mail? top

		 EMERYVILLE, Calif. (VENTUREWIRE) -- Ditto.com, which operates a visual
search engine, has ceased operations, President and CEO Wayne Willis told
VentureWire. Mr. Willis said he is in negotiations to license the company's
search engine technology to the original founders of Ditto.com, who have now
formed a new company called TLS Technologies. The founders, including Michael
Lyons, John Treacy and Steven Schmitt, will retain the Ditto.com URL, Mr.
Willis said. In addition to a potential licensing deal, Ditto.com has been
meeting with prospective buyers to sell its intellectual property, which has
an estimated value in the "eight-figure range," Mr. Willis said. He declined
to discuss further details on the pending negotiations. Ditto.com raised
about $33 million in funding from a number of investors including ETF Group,
European Technology and Finance Investment Group, Trinity Ventures and
Waterline Capital. Mr. Willis became CEO and president of Ditto.com last
year, and took the position of venture partner in ETF Group.
		http://www.ditto.com

		The Dock Shuts Down After Failing to Find Funding
		 mail? top

		 SANTA MONICA, Calif. (VENTUREWIRE) -- The Dock, which operated an online
marketplace for the industrial equipment industry, said it was shutting down.
The Dock said that its five-member board of directors authorized the company
to begin winding down operations on May 29 due to difficult economic market
conditions. The company said it had attempted to raise another round but
would not comment on the amount. Last week the company laid off 45 employees
and a number of consultants are now responsible for closing the company. The
Dock, founded in April 2000, had raised over $20 million in two rounds from
Lehman Brothers Venture Capital Group, Lehman Brothers Assets Based Group,
and individuals. It employed approximately 60 people at one time.
		http://www.thedock.com

		MetaTV Acknowledges Charges Against CEO
		 mail? top

		 SAUSALITO, Calif. (VENTUREWIRE) -- MetaTV, which provides broadband portals
and applications for interactive television, acknowledged that its CEO,
Ranjit Singh Sahota, has been arrested on allegations that he raped a
12-year-old girl, as first reported in the Wall Street Journal. The company
said the incident involved "personal activities entirely unrelated to company
operations" and declined to comment further. Mr. Sahota was arrested by the
FBI and the Sunnyvale Police on June 2 for the alleged crime. In a statement,
MetaTV said co-founder and president, Andrew Lev, will oversee the company's
day-to-day activities. It also said the company's board and investors "remain
enthusiastic and committed to its continued success." The arrest comes after
a three-month investigation by the FBI and Sunnyvale Police, the FBI said.
Beginning in July 2000, Mr. Sahota entered into conversations with the girl,
the FBI said, and in August 2000 arranged to meet the girl. The sexual
assault allegedly occured in a Sunnyvale, Calif. hotel room, according to FBI
reports. Starting in May 2001, the FBI said an undercover agent posing as an
14-year-old girl began to have conversations with Mr. Sahota via e-mail, chat
rooms, and telephone. These interactions culminated with his arrest last
Saturday in San Francisco's Golden Gate Park. According to the FBI, MetaTV's
office was searched along with Mr. Sahota's Fairfax, Calif. home and car.
MetaTV, which raised $28 million in April, is backed by Comcast Interactive
Capital, Cox Communications, Atrium Venture Partners, Crown Technology
Partners, Harron Capital, Liberate Technologies, Redpoint Ventures, Rosewood
Venture Group, and Saints Ventures.
		http://www.metatv.com

		 new products
		?
		eToll Charges Ahead Under New Name FastForward
		 mail? top

		 PITTSBURGH (VENTUREWIRE) -- eToll, a provider of digital services for
consumer commerce, announced the company's name change to FastForward. The
company will continue to offer the same services under its new name.
FastForward also said it plans to announce the close of its third round of
funding next week. In April the company cut 25% of its staff. FastForward has
raised $25 million in two rounds from Adams Capital Management, Mellon
Ventures, and individuals.
		http://www.ffwd.com

		AmEx & Others Launch Intranet Portal Firm Workadia
		mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Workadia, which provides hosted intranet
portals for midsize businesses, announced the company's launch. Founding
investors American Express, Infosys, Tibco Software, and WestBridge Capital
Partners invested $16.7 million in the company. Workadia said it is currently
beta-testing its Web-based offering with American Express and plans on
signing up four other beta customers this year. The company expects to launch
commercially by the end of 2001. The funding will be used as working capital
and to recruit a full senior management team and staff. Co-founder Mohit
Mehrotra, a vice president at American Express, is acting as interim CEO. The
founding investors said they began discussions about forming Workadia in the
third quarter of 2000. Workadia said the current financing should last until
expected profitability in 2002 and that it had no immediate plans to raise
additional capital. Workadia's board of directors includes Glen Salow and Jud
Linville of American Express, Phaneesh Murthy of Infosys, Raj Mashruwala of
Tibco Software, and Sumir Chadha of WestBridge Capital Partners.
		http://www.workadia.com

		 m&a
		?
		Messaging SoftwareFirm SetNet Buys Selfswitch
		 mail? top

		 CORAL GABLES, Fla.  (VENTUREWIRE) -- SetNet, which provides unified
communications and messaging software and systems to the global
telecommunications industry, said it has acquired Selfswitch, a Paris-based
unified communications application service provider in an all-stock deal.
SetNet said the deal was completed for an unspecified percentage of SetNet's
capital stock. Selfswitch will be fully incorporated within SetNet and will
serve as a base of operations for SetNet's expansion into Europe.
Selfswitch's co-founders, CEO Timothee Wirth and Thierry Ferey, are taking
executive positions with SetNet, which said it will retain Selfswitch's
employees in Paris. Selfswitch had received $1 million from Brand Trust,
Pythagoras, Smartenigma, and individual investors. SetNet also said it was
looking to raise a $10 million first round by the middle of August and was in
advanced negotiations with four top-tier venture capital firms. The company
also said it expects strategic investors to participate in the first round
once a lead venture capital firm is designated. SetNet has raised $3 million
in seed funding from individual investors.
		http://www.selfswitch.com
		http://www.setnet.com

		Torque Systems Acquires Graphics ISP Digital Art Exchange
		 mail? top

		 BOSTON (VENTUREWIRE) -- Torque Systems, a systems integrator for the
graphics industry, announced it has acquired graphics ISP firm Digital Art
Exchange (DAX), for an undisclosed amount. Sam Bogoch, Torque's CEO, said the
company will retain less than 10 employees from DAX, which laid off most of
its employees prior to the acquisition. The acquisition, which will enhance
Torque's open-systems networking and storage capabilities, does not include
PrintPlanet.com, in which DAX holds a 50% stake. Mr. Borgoch confirmed that
DAX had raised about $25 million in venture capital. Torque, which is not
venture-backed, just reached the break-even stage in March, and believes the
acquisition will accelerate its path to profitability. Before it gets to that
stage, Torque is looking to raise from $7 million to $10 million for
marketing and research and development activities, Mr. Bogoch said. Torque is
planning further acquisitions, with an eye towards data- and
storage-intensive companies, he added.
		http://www.torque.com

		Omnicom Group Acquires Consulting Firm Wolff Olins
		 mail? top

		 LONDON (VENTUREWIRE) -- Publicly held Omnicom Group, a media holding
company, acquired consulting firm Wolff Olins. Terms of the deal were not
disclosed. In 1997, Lloyds TSB Development Capital, the venture capital arm
of Lloyds, received a 30% stake in Wolff Olins through an investment of GBP
$2 million ($2.8 million). Lloyds was the only outside investor in the
company. Wolff Olins will become part of Omnicom's diversified agency
services group. Wolff Olins currently employs 200 people with offices in
London, New York, San Francisco, Madrid, Lisbon, and Tokyo. As a result of
the transaction, Wolff has created a new board of directors that consists of
executives from Wolff and the Omnicom group.
		http://www.omnicomgroup.com
		http://www.wolff-olins.com

		Employment Wizard Merges with CareerSite
		 mail? top

		 ANN ARBOR, Mich. (VENTUREWIRE) -- Employment Wizard, a subsidiary of
MediaNews Group that provides the newspaper industry with recruitment
products,  announced it has merged with CareerSite to create a new online
company that will offer newspaper publishers full integration of employment
line and display advertising. A spokesperson said that Peter Bernhard, who
was president and CEO of Media News Technology, will serve as the CEO and
president of the newly combined entity. Don Dornbush, president and
co-founder of CareerSite, has been named executive vice president of the new
company, which will employ roughly 37 people. The spokesperson said the
merger will not result in any layoffs. CareerSite is backed by Advance
Internet and individual investors.
		http://www.careersite.com
		http://www.employmentwizard.com

		 new directors
		?
		AT&T Broadband Exec Joins Into Networks Board
		 mail? top

		 CAMBRIDGE, Mass. (VENTUREWIRE) -- Into Networks, which provides streaming
software technology and integration services, announced that Susan Marshall,
AT&T Broadband's senior vice president of advanced broadband services, joined
the company's board of directors. Ms. Marshall takes the ninth position on
the board, which is now full. She began working with the company when Into
Networks was deployed to AT&T customers through Excite@Home and Road Runner.
AT&T is a strategic investor in Into Networks. To date, Into Networks has
raised $62.9 million in funding, and anticipates a round "in the near
future," according to a company spokesperson. Adelphia Communications, AT&T,
Bank Boston/Fleet Boston, Cisco Systems, Cox Communications, Fidelity
Ventures, Inktomi, Intel, Lauder Partners, Morgan Stanley Dean Witter,
Motorola, NTL, Putnam Private Equity Funds, UnitedGlobalCom, Venture TDF, NCB
Holdings, Venrock Associates and YAS Broadband Ventures are backers in the
company.
		http://www.intonet.com

		Proceler Appoints Informatica Head to Board
		 mail? top

		 BERKELEY, Calif. (VENTUREWIRE) -- Proceler, a developer of accelerated
embedded systems design, said that it has appointed Diaz Nesamoney to its
board of directors. Mr. Nesamoney is co-founder, president, and COO of
Informatica, a provider of e-business analytical applications and data
integration platforms. Mr. Nesamoney joins as the fifth member of the
Proceler board, which also includes Peter Stickells of Tradewinds Capital
Management and Kian-Wee Seah of UOB Venture Management. This is a new seat.
In March, the company received $4 million in a Series A round, which was led
by UOB and included Tradewinds and individuals. Proceler's seed round of
$750,000 was solely funded by Tradewinds. The company is planning to raise a
Series B financing this fall.
		http://www.proceler.com

		 new people
		?
		Blackboard Names Ex-Prometric Thomson CEO as Pres., COO
		mail? top

		 WASHINGTON (VENTUREWIRE) -- Blackboard, an Internet infrastructure software
company for online education, said it named Stephen Hoffman as the company's
first president and COO. Mr. Hoffman will be responsible for making the
company cash-flow positive by the end of the year and profitable by 2002. Mr.
Hoffman was formerly CEO of Prometric Thomson, a testing and assessment
service. Blackboard raised $48 million in April from Oak Hill Capital
Partners, Dain Rauscher Wessels, Microsoft, Morgan Keegan, AOL Time Warner,
the Aurora Funds, the Carlyle Group, Dell Computer, Internet Capital Group,
Kaplan, Merrill Lynch Kecalp, Novak-Biddle Venture Partners, and Pearson
Education.
		http://www.blackboard.com/

		Alerts Hires Within; Replaces Co-Founder in Pres. & CEO Role
		 mail? top

		 RALEIGH, N.C. (VENTUREWIRE) -- Alerts, an alerting infrastructure company
that develops software and services for the enterprise and Internet market,
said David Fisher has been promoted from vice president of sales and
marketing to president and CEO to oversee the company's next stage of growth.
Mr. Fisher, who joined the company last month, replaces co-founder Michael
Jones, who will leave the company, but will continue to work as a consultant
during the transition period and in the future. Mr. Fisher assumes Mr. Jones'
seat on the board, keeping the board at five members. The company expects to
fill the vice president of sales and marketing position, but has not yet
begun a search. Co-founder John Creamer will continue to serve as CTO and
vice president of development. Alerts is funded by ABS Ventures, Aurora
Funds, Cordova Ventures, and Intersouth Partners.
		http://www.alerts.com

		Transaction Monitoring Provider Xtremesoft Appoints New Head
		 mail? top

		 WOBURN, Mass. (VENTUREWIRE) -- Xtremesoft, a provider of software-monitoring
technologies for Microsoft-based e-commerce transactions, said that Michael
Dexter-Smith has joined as president, CEO, and chairman. Mr. Dexter Smith
previously served as president and CEO for VenturCom, a provider of software
and services for Windows-based technologies. Mr. Dexter-Smith replaces
co-founders Scott Matsumoto and Steve Weiss, who will continue with the
company as chief technology officer and senior vice president of business
development, respectively. He also joins as chairman of the six-member board
of directors, which includes Harry Gruner and Bradford Woloson of JMI Equity.
There is currently one seat available on the board. In June 2000, Xtremesoft
raised $5.8 million in its Series B financing. JMI Equity Fund led the round,
which included an investment from Merrill Lynch subsidiary, Kecalp. The
company is currently looking to raise $10 million in Series C funding, which
is set to close by the first quarter of next year.
		http://www.xtremesoft.com

		Ellipsus Systems Names Connect Things Execs to Top Posts
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Ellipsus Systems, which develops mobile data
communication technologies, said it named G. Russell Mortenson as its CEO.
Mr. Mortenson held the same positions at Connect Things, which was acquired
by AirClic earlier this year. Douglas Davis, who served as COO of Connect
Things, also joined Ellipsus in the same position. Mr. Mortenson was
introduced to Ellipsus through its venture capital investor, T-Provider. Last
week, Ellipsus moved the company from Stockholm to Dallas, where it is now
has its headquarters. Chief technical officer, Rikard Kjellberg, and product
development manager, Martin Bergljung -- both co-founders -- ran the company
before it moved to the U.S. The move to Dallas is expected to create 40 to 50
new jobs by the end of the year. Ellipsus is backed by T-Provider.
		http://www.ellipsus.com

		Global Metro Promotes from Within for First CEO Appointment
		 mail? top

		 SILVER SPRING, Md. (VENTUREWIRE) -- Global Metro Networks, which provides
dark fiber-optic networks to telecommunications companies, Internet-service
providers, and European enterprises, said Robert C. Bicksler has been
promoted from executive vice president and chief financial officer to CEO.
Mr. Bicksler becomes the first person to fill this position since the company
was founded in January 2000. Prior to his appointment, co-founder, president,
and COO, Doug Hudson; senior vice president and general counsel, Steve
Chisholm; and Mr. Bicksler headed the company and answered directly to the
board. There are currently no plans to fill Mr. Bicksler's past post, the
company said. He will continue to sit on the eight-member board. Before
joining the company in October 2000, he worked for AT&T Canada as an
executive vice president and CFO following its $7 billion merger with
MetroNet Communications. Global Metro is backed by Alta Communications,
Columbia Capital, Providence Equity Partners, Spencer Trask Ventures, and
Telcom Ventures.
		http://www.globalmetro.com

		 vc personnel
		?
		Conning Capital Names Ex-Progressive Exec as Partner
		 mail? top

		 HARTFORD, Conn. (VENTUREWIRE) -- Conning Capital Partners, a private equity
group that invests in financial services companies, said David W. Young has
joined as partner. Mr. Young was chief investment officer for Progressive
Corp., an auto insurer, before joining Conning. He has also worked at Salomon
Brothers, where he started the bank asset/liability management group and
co-founded the financial institutions capital markets group. Mr. Young
co-invested with Conning in a few transactions while he was at Progressive.
Conning Capital Partners, a unit of Conning & Company, has close to $600
million under management. The company focuses on financial services and
technology companies, including software, brokerage, banking, insurance, and
managed-care companies.
		http://www.conning.com

		Newbury Ventures Adds Two Venture Partners
		 mail? top

		 SAN FRANCISCO (VENTUREWIRE) -- Newbury Ventures, which provides financing
for emerging communication and information technology companies, said Conrad
Lewis and Ken Wigglesworth, co-founders of  Eagle One Ventures, will comprise
Newbury's recently opened Ottawa office as venture partners. They will locate
and manage investments in the area while continuing to serve as principals at
Eagle One Ventures. Mr. Lewis will focus on early-stage networking and
communications investments in Canada for Newbury. Previously, he was an
executive vice president at Newbridge Networks, where he worked in the access
and network management product group. Mr. Wigglesworth is also a former
Newbridge Networks executive, where he served in the CFO position. Newbury
Ventures recently closed its third fund at $250 million and added two new
venture partners to its Paris office.
		http://www.newburyven.com

		 vw corrections
		?
		Optium
		 mail? top

		 NEW YORK (VENTUREWIRE) -- An article in Tuesday's VentureWire on optical
device and packaging technology firm Optium contained an incorrect URL for
the company. Optium's URL is http://www.optiumcorp.com. Also, the name of Lee
Munder Venture Partners, an investor in the company, was misspelled.

		iWitness
		 mail? top

		 NEW YORK (VENTUREWIRE) -- In Monday's VentureWire an item about iWitness, a
provider of digital business records management software, incorrectly listed
World Ventures as an investor. Wolf Ventures was the investor. The story also
omitted the affiliation of board member Tim Conner. He represents Sequel
Venture Partners.

		company index
		top

		Alerts.com, Alien Technology, Alloptic, AtriCure, CareerSite, Clickmarks,
Clustra Systems, Comdisco Ventures, Conning Capital Partners, DataCert.com,
ditto.com, e-Commerce Solutions, Efficio, Ellipsus Systems, Employment
Wizard, Epicentric, FastForward, Focus Ventures, Followap, Global Metro
Networks, GotMarketing.com, Hiwire, Hologix, InsureZone.com, Into Networks,
Mergermarket, MetaTV, Movaz, Napster, Newbury Ventures, OmniCluster
Technologies, Omnicom Group, Pirelli Cavi e Sistemi, Proceler, Project Time &
Cost, Screentec, Selfswitch, SetNet, TerraShare.com, The Dock, Urbanpixel,
Verimetra, Vibration Technology, WhatsHotNow.com, Wolff Olins, Workadia,
Xtremesoft

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		Scheduled to speak: Bryan Stolle of Agile Software,
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today:http://www.enterpriseoutlook.com/register.asp

		investor index
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		Buena Venture Associates, Celtic House, Charter Venture Capital, Corven
Ventures, GSC Partners, Kestral Document Services, Menlo Ventures, Meritech
Capital Partners, Motorola Ventures, NewMedia Spark, Oak Investment Partners,
Palmetto Partners, Partisan Management Group, Pittsburgh Gateways, ProVen
Private Equity, Silicon Valley Bank, U.S. Venture Partners, UPS Strategic
Enterprise Fund, Venture Beginnings, Worldview Technology Partners,
XRVentures

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		,2001 Technologic Partners
			?


-----Original Message-----
From: 	Driscoll, Michael M.
Sent:	Wednesday, November 14, 2001 9:03 AM
To:	Alport, Kysa
Subject:	FW: Quality Moves to utilize on your next date

 -----Original Message-----
From: 	Pete Mehok [mailto:pm@navistaff.com]
Sent:	Friday, November 09, 2001 4:11 AM
To:	Walls; Peeps; Scooter; Babar; Blotter; Anthony; Coz; Byrnes; Cibs; Cooter; Doyle; Driscoll, Michael M.; Ferne; Fellrath; Fonz; Gimp; Hoss; Juice; Kiwi; Knute; Klondike; Kuna; Moss; Paps; Rammer; Rosie; Royer; Russ; RyB; Saylor; Scarecrow; Spider; SweetJ; Verlin; ME; Rick
Subject:	Quality Moves to utilize on your next date

God Bless America. If anyone uses one of these moves please report back to me with your results.  I will attempt the Shanghai Shampoo on my date tonight.

HOW TO IMPRESS YOUR GIRLFRIEND
These are techniques that have been sent to me by various Bunthaus heads. I want to again stress that in no way do we condone the techniques listed here or practice these. Except maybe the Turkey Shoot and the Rear Admiral. And definitely the Spicey Stanley.
Here is a fairly extensive compilation of some of the extraordinary sexual activities that can be performed by men:
1. Tea bag - As you are sitting on a girl's face, repeatedly dip your scrotum in and out of her mouth, similar to a tea bag in a cup of hot water. An old favorite.
2. Hot Lunch - While receiving head from a woman, you shit on her chest. (a.k.a. the Cleveland Steamer)
3. The Stranger - Sitting on your hand until it falls asleep and then jerking off, eliciting the feeling of a hand job from someone else.
4. Donkey Punch - Banging a girl doggy style and then moments before you cum, sticking your dick in her ass, and then punching her in the back of the head. This gives a tremendous sensation, but for it to work correctly, the girl must be knocked out so that her asshole tightens up.
5. Golden Shower - Any form of peeing on a girl. (aka: watersports)
6. Pearl Necklace - Well known. Whenever you cum on the neck/cleavage area of a girl, it takes on the look of beautiful jewelry.
7. Coyote - This occurs when you wake up in the room of a nasty skank and you know you've got to give her the slip. However, you realize that your arm is wrapped around her. Therefore, you must gnaw off your own arm to get out of this situation. Can be very painful.
8. Purple Mushroom - This occurs when a woman is giving you oral sex and you withdraw your penis in order to poke it back into her cheek. It should leave a lasting impression similar to a purple mushroom.
9. The Flying Camel - A personal favorite. As she is lying on her back and you are hammering her from your knees, you carefully balance yourself without using your arms to prop yourself up. You then to flap your arms and let out a long, shrieking howl. Strictly a class move.
10. Double Fishhook - From the doggy-style position, you hook your pinky fingers in her mouth and pull back to achieve deeper penetration.
11. The Ram - Again, you're attacking from behind, when you start ramming her head against the wall in a rhythmic motion. The force of the wall should allow for deeper penetration. Very handy for those lulls in penile sensitivity.
12. Dog in a Bathtub - This is the proper name for when you attempt to insert your nuts into a girl's ass. It is so named because it can be just as hard as keeping a dog in the tub while giving it a bath.
13. The Bronco - Back to reality with this classic. You start by going doggy style and then just when she is really enjoying it, you grab onto her tits as tightly as possible and yell another girl's name. This gives you the feeling of riding a bronco as she tries to buck you off.
14. Pink Glove - This frequently happens during sex when a girl is not wet enough. When you pull out to give her the money, the inside of her twat sticks to your hog. Thus, the pink glove.
15. The Fountain of You - While sitting on her face and having her eat your ass, jerk off like a madman. Build up as much pressure as possible before releasing, spewing like a venerable geyser all over her face, neck and tits. (Better in her bed)
16. New York Style Taco - Anytime when you are so drunk that when you go down on her, you puke on her box. Happy trails!
17. Dirty Sanchez - While banging a girl doggy style, quickly stick 2 fingers deep into her starfish, then reach around and wipe the residue on her upper lip, providing her a mustache.
18. Western Grip - When jerking off, turn your hand around, so that your thumb is facing towards you. It is the same grip that rodeo folks use; hence, western.
19. The Blumpkin - You need to find a real tramp to do this right. It involves having her suck you off while you're on the shitter.
20. The Bismark - Another one involving oral sex. Right before you are about to spew, pull out and shoot all over her face. Follow that with a punch and smear the blood and jism together.
21. Jelly Doughnut - A derivation of the Bismark. All you have to do is punch her in the nose while you are getting head.
22. Woody Woodpecker - While a chick is sucking on your balls, repeatedly tap the head of your cock on her forehead.
23. Tossing salad - Well known by now. A prison act where one person is forced to chow starfish with the help of whatever condiments are available, i.e. Jello, jism, etc
24. The Fish Eye - Working from behind, you shove your finger in her pooper. Thereupon, she turns around in a one-eyed winking motion to see what the hell you are doing.
25. Tuna Melt - You're down on a chick, lapping away, and you discover that it's her time of the month. By no means do you stop though. When the whale spews, tartar sauce with a hint of raspberry smothers your face.
26. The Fur Ball - You're chomping away at some mighty Zena who has a mane between her legs the size of Lionel Richie's afro, when a mammoth fur ball gets lodged in your throat. You punch her.
27. The Chili Dog - You take a dump on the girl's chest and then titty fuck her.
28. Gaylord Perry - Going to only one knuckle during an anal probe is for wimps. Make this famous knuckle-ball pitcher proud and use multiple digits on that virgin corn hole. A minimum of 2 knuckles required (either on one finger or on multiple).
29. The Rear Admiral - An absolute blast. When getting a chick from behind (with both partners standing), make sure you don't let her grab onto anything when she is bent over. Then, drive your hips into her backside so that the momentum pushes her forward. The goal is to push her into a wall or table, or have her trip and fall on her face. You attain the status of Admiral when you can push her around the room without crashing into anything and not using your hands to grab onto her hips.
30. Glass Bottom Boat - Putting saran wrap over the skank's face and taking a dump.
31. Ray Bans - Put your nuts over her eye sockets while getting head. You're can is on her forehead. Yes, it may be anatomically impossible, but it is definitely worth a try.
32. The Snowmobile - When plugging a girl while she's on all fours, reach around and sweep out her arms so she falls on her face.
33. The Dutch Oven - Also well known. Whenever you fart while humping, pull the covers over her head. Don't let her out until all movement ceases.
34. Smoking Pole - Self Explanatory. Don't use fire.
35. Rusty Trombone - Getting the reacharound while getting your salad tossed. Also known as milking the prostate.
36. Turkey Shoot - When you're coming, come on her face and let it drip off her chin so it looks like that red shit on the turkey's chin.
37. Stovepiping - Taking it in the Tush.
38. Rusty Anchor - After a healthy term of the Stovepiping, the recipient gets to enjoy a good fudgesicle.
39. Sandpiper - A stovepiping on the local beach, desert, or playground sandbox. Also known as the Sandblast.
40. Lucky Pierre - the middle man in a three way buttfuck. Also known as the french sandwich.
UPDATED!!!! NEW LISTINGS!!!!
41.Divortex- A mystical place into which old friends are sucked when a married couple splits up.
42.Blump- To suck someone's dick while they are taking a dump.
43.Bustard- A very rude bus driver.
44.Cold Faithful- Blowing your visibly-steaming load outside in the winter-time, like when you get your cock sucked on a ski-lift.
45.Grand pappy smash- To beat your meat so hardcore that it starts to chafe and bleed.
46.Esplanade- To attempt an explanation while drunk.
47.Flatulence- The emergency vehicle that picks you up after you are run over by a steamroller.
48.Butt Rodeo- When you're going at it with a girl, you flip her over real fast, start ramming her in the ass and yell as loud as possible "BUTT RODEO!" You then see how long you can ride her till she tosses ya off!
49.Bargoyle- The hideous old hair-spray hag who seems to live at your local watering hole. She usually smokes endlessly, spends hundreds of dollars a night on video-poker, and makes sexually threatening comments to frightened college freshmen.
50.Pasteurize- Once you get her hairy bush pasteurize, you got it licked!
51.Beerelevant- A point which does not seem to be particularly important, given enough beer
52.Mangry- Describing the anger of women who are angry at men, specifically. "She's such a bitch, she's just plain mangry."
53.Clitourist- A man who won't stop and ask for directions in bed. ie: "Because of his fouled foreplay, Suzy realized that her new boyfriend was no experienced bedroom traveler, but merely a clitourist."
54.Stuffucking- The act of "stuffing in" your limp, helpless member in hopes of getting it up. Potential causes: you're too drunk or she's too ugly. (see also; Fugly)
55.Antlers- Wide, flat, flapjack titties that come to a sharp point at the nipples.
56.The Kangmin - while a girl is reciting bad poetry, you take her from behind.
57.The Flaming Amazon- This one's for all you pyromaniacs out there. When you're screwing some chick, right when your about to cum, pull out and quickly grab the nearest lighter and set her pubes on fire, then extinguish the flames with your jizz!
58.The Screwnicorn -When a dyke puts her strap-on dildo on her forehead and proceeds to go at her partner like a crazed unicorn.
59.Split pissonality -When you're taking a leak and you get two streams out of the one hole!
60.A Short in the Cord- A "code" phrase used by the common man to refer to Testicular Tendon Tangle Syndrome. Ex. "Oh fuck! My nuts are killing me... I think I've got a short in the cord."
61.Old Jism Trail -The stream of semen oozing down the chin and chest of someone who has just finished fellating a senior citizen.
62.Abdicate -To give up all hope of ever having a flat stomach.
63.Lymph -To walk with a lisp.
64.Anal Boot- An anal boot is when you take a pitcher of beer, everyone spits in it, someone stirs it with their cock and then the mixture is poured through the crack of a man ass into the waiting mouth of the loser of a bet or drinking game.
65.Australian Death Grip- The act of grabbing a woman by the haunches/crotch and staring deeply into her eyes until you're slapped or kissed. A recommended tactic for very crowded bars. Another great opportunity for wagering among friends.
66.Fumilingus -When a man (or woman) performs cunnilingus on a woman and she farts directly in his/her face.
67.Intoxicourse- Having sexual intercourse whilst piss-drunk.
68.Valsalva -The act of pinching shut (with thumb and forefinger) a woman's nose while receiving fellatio; most effective when employed just prior to the release point due to the gag reflex and ensuing swallow that the woman is forced to do to continue breathing. A great first date ploy, as it sets the stage for what the rules of engagement will be going forward.
69.Insta-gasm -Pre-mature ejaculation at the sight of a beautiful woman. ie: "She was so fine, I had an insta-gasm before I could get her clothes off!"
70.Manual Deconstipation -This is where you get out the hand cream and go in manually for the hammerhead by breaking it into smaller chunks and pulling it out a piece at a time.
71.Post Poodum Syndrome -The feeling of depression felt after successful removal of a hammerhead. The excitement has passed, and you must now find something else to occupy your time.
72.The Homolic Maneuver -Using your penis to dislodge an object blocking a choking victim's windpipe.
73.Pegging - having a female take you in the rear with a strap on.
74. The UnderDog - after a hard session at the gym, your armpit muscle begins to twitch; thus giving you the ability to jerk a guy off with your armpit muscle.
75. The Twinkler - when you are 69ing a girl and you shove your dick into mouth hard, and you watch her a-hole "twinkle" as she gags.
76. Angry dragon - This involves the girl giving the guy head and as he is about to cum slapping the girl on the back of the head causing the cum to come out her nose. Great care should be used to not slap her mouth shut.
77. Tony Danza - a takeoff of the donkey punch is called the Tony Danza. When you are about to cum while doing a girl from behind, you say "who's the boss?" and stick it in her ass. Before she says anything you shout "TONY DANZA!" and punch her in the back of the head.
78. Alaskan firedragon - another good take off is one of the angry dragon that is called the alaskan firedragon. When a girl is giving you a blowjob, cum in her mouth unexpectedly and plug up her mouth at the same time. Then whisper in her ear "i have syphilis" so she spews it out her nose.
79. The Walrus - when she's giving u a blowjob and u cum in her mouth unexpectadly, cover up her mouth and punch her in the stomach.
80. The Fat Lip - If you get poison ivy and finger a girl, her labia lips will swell. A la, the fat lip.
81. Sleeping Bag - If you're going down on a really fat girl, you pull her enormous stomach roll of fat over your head.
82. Hummer Bird - when a girl is giving a guy a hummer, and he's enjoying it, she bites on his bird.
83. Bloody Mary - when a drunk guy is going down on a girl and without even realizing it after he's done, he realizes Mary was very Bloody
84. The Houdini - this maneuver is accomplished while going at it doggy style. As you feel you are about to cum, you pull out and spit on the small of her back (making her think you've finished...). It's at the point when she turns around when *BAM!* You bust your load in her face (in the eye if you've got proper aiming techniques down.) Also known as the Doug Hennings and the David Copperfield.
85. Upperdecking - This one takes practice. This maneuver requires a toilet with a tank above it, like the ones in most homes. Instead of crapping in the bowl, you shit in the tank (i.e. upperdecking). Now don't flush. When the following victim flushes, the rancid waste fills the bowl. If you play your cards right, it may ferment
86. Journey into darkness - This is the most disturbing of all. It entails shitting into another person's asshole. Not for beginners.
87. Rocky Balboa - dont shower for 2 weeks, then diarrhea down her throat at any point during sexual contact.
88. Rocky Balboa Title Punch - same as the Rocky Balboa, but in that non-showering 2 weeks all you eat is corn.
I don't usually do this, but I have to give credit to Sascha and Zach for the next 2. I'm only doing this because they are my bosses kids...
89. The McDonald's Quick Draw - Get your girlfriend to talk dirty into the intercom, making the order guy start to beat off. Then while pulling up to the window, have her give you falatio till you are about to blow your beefy chunk-load. Upon pulling up to the window, tell your girl friend to yell "Draw!". Then on "three", both you and the guy blow your loads either on her or eachother.
90. Uncle Jemima - the typical dirty chef at your local Denny's or other low-class food establishment who occasionally becomes disgruntled, and takes out his frustration on your meal, via "the ass wipe" or the "French Toast Strut" seen in Road Trip.
91. Airtight - this is where a girl has a cock in each of her three holes, hence, airtight.
92. The Throne of Lightning - This is done by fucking a girl while you shit in a toilet. When you're going to blow your load, turn her over and dunk her head in the toilet, while she's bobbing for your turd plummet a river of semen in her ass. Not to be confused with "Ride the Lightning," a Metallica album
93. Abe Lincoln - You're getting a girl up the ass and give her a swift donkey punch to the back of her head, knocking her unconscious. You then turn her around and jerk off and blow your load all over her face. Then you shave her beaver and take the clippings and spread it where you jizzed on her, making a beard that looks like good ol Honest Abe's.
94. Thanksgiving - Just like the holiday, Thanksgiving is when you do a girl and then she puts her two big butt cheeks on your face like holiday hams. An overcooked thanksgiving is similar to this but instead of just putting the cheeks on your head she farts on it too.
95. PEUM - An acronym coined by a group of drunk assholes that defines the annoying (and uncontrollable) tendency to piss in multiple directions after a raucous fuck: Post-Ejaculatory Urinary Misfire.
96. The Beverly Hills Whiffer -This move is restricted to those women who think they're God's gift to the world. Find a woman of the above description. Take her home and start doggie styling her. When you're about to blow, corkscrew two fingers into her ass, scraping as much shit as you can from her. Pull out your fingers, reach around her head to stick one finger in each nostril. Pull her head back so she can see you while you yell "So, you think your shit don't stink now ?!"
97. Shanghai Shampoo - Fuck a chick until you've built up a load large enough to paint a room. Blow it all in her hair, rub it in thoroughly. When it dries it will resemble the crunchy noodles often served with chop suey.
98 . Frosting the Cake - When you are about to cum, blow a load all over her chest. Then take your dick and evenly spread the Jism around the breasts and over the nipples. Then stick some candles on it and start singing "Happy Birthday." Then blow out the candles
99. Spicey Stanley - When a girl takes hot sauce and pours it on your cock. She then proceeds to give you a blowjob, making sure all of the hot sauce is gone.

Pete Mehok
NaviStaff, Inc.
Technical Recruiter
332 Springfield Ave Suite 210
Summit, NJ 07901
pm@navistaff.com
p:908.273.6960 Ext. 104
f:908.273.6940
www.navistaff.com

Professional IT Staffing for the Financial Industry.

As an added incentive NaviStaff pays a referral gift of one of the following items: Panasonic Portable DVD Player (DVDLV75), Palm VII, Phillips Tivo HDR-112, Ping i3 Iron Set (Steel Shafts 3-PW),GT Backwoods Mountain Bike, or $1,000 cash.  Must refer a qualified Candidate that leads to a successful placement with a NaviStaff Client for an excess of 90 days, at which time payment will be rendered.  Thanks again for your time.

NaviStaff Hot List:
1. Sr. Help Desk Technician(NYFIX/BRASS)-Investment Bank in Midtown, NY
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3. Equities Quantitative Trading Developer(Unix/C++, real-time Apps., Equities)
Investment Bank in Stamford, CT
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5. Sr. Voice Specialist(Turrets/PBX)-Investment Bank in Stamford, CT and Midtown, NY
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7. Business Conitnuity Analyst.-Investment Bank in Stamford, CT
8. Sr. Network Specialist-Investment Bank in Stamford, CT and Midtown, NY
9. Sr./Lead Security- Investment Bank in Stamford, CT and Midtown, NY
10. Network Implementation Project Manager
(Excellent Project Management Skills)
Staten Island, NY
11. Provision Voice Analyst(Turrets, financial) Staten Island, NY


---------------------- Forwarded by Peter F Keavey/HOU/ECT on 05/14/2001 07:49 AM ---------------------------

sandra delgado <sdelgado_vitoltvl@yahoo.com> on 05/11/2001 04:28:09 PM
To:	PETER.F.KEAVEY@ENRON.COM
cc:
Subject:	03AUG HOUSTON TO NEW YORK= TICKETED

                                          AGENT JH/SS BOOKING REF
ZDJU5U

                                          KEAVEY/PETER

  ENRON
  1400 SMITH
  HOUSTON TX 77002
  PETE X37277

  DATE:  MAY 11 2001                   ENRON

SERVICE               DATE  FROM           TO             DEPART
ARRIVE

CONTINENTAL AIRLINES  03AUG HOUSTON TX     NEW YORK NY    115P    559P
CO 1970    V          FRI   G.BUSH INTERCO LA GUARDIA
                            TERMINAL C     TERMINAL M
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:44 DURATION
                  AIRCRAFT: BOEING 737-300
                            SEAT 06C NO SMOKING CONFIRMED KEAVEY/PETER

CONTINENTAL AIRLINES  13AUG NEW YORK NY    HOUSTON TX     259P    558P
CO 1975    V          MON   LA GUARDIA     G.BUSH INTERCO
                            TERMINAL M     TERMINAL C
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:59 DURATION
                  AIRCRAFT: BOEING 737-300
                            SEAT 06C NO SMOKING CONFIRMED KEAVEY/PETER

      AIR FARE 241.86       TAX 26.64           TOTAL USD
268.50

                                        INVOICE TOTAL USD
268.50

PAYMENT: CCCA5490850070001643/1101/A011782

RESERVATION NUMBER(S)  CO/MVYLGL

KEAVEY/PETER                             TICKET:CO/ETKT 005 7028381410

CO  FREQUENT FLYER COWH845429
**CONTINENTAL RECORD LOCATOR: MVYLGL
THIS IS A TICKETLESS RESERVATION. PLEASE HAVE A
ICTURE ID AVAILABLE AT THE AIRPORT. THANK YOU
***********************************************
NON-REFUNDABLE TKT MINIMUM $100.00 CHANGE FEE
                  THANK YOU FOR CALLING VITOL TRAVEL

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/


Bruce,

Thank you for your bid.  I have decided on a floor plan.  I am going to have
an architect in Austin draw the plans and help me work up a detailed
specification list.  I will send you that detailed plan and spec list when
complete for a final bid.  Probably in early to mid June.

Phillip


At its special meeting today, FERC released the results of its eagerly
awaited probe into California's summer power crisis, concluding that under
certain circumstances, California ratepayers were subjected to unjust and
unreasonable power rates due to California's "seriously flawed" market
structure and rules in conjunction with tight demand and supply conditions
throughout the West.

The FERC staff report on western markets and the causes of the Summer 2000
Price Abormalities, entitled, Part I of Staff Report on U.S. Bulk Power
Markets, is available at the following website:
http://www.ferc.fed.us/electric/bulkpower.htm

In response, FERC issued an order proposing a series of sweeping structural
changes to the California ISO and PX to help remedy the pricing problems, and
solicited public comment by November 22.  A technical conference has also
been scheduled for November 9, to discuss the proposed solutions and other
remedies that might be suggested (details TBA).  While all four commissioners
supported the order, the order stretched the Commission.  Chairman Hoecker
and Comm. Breathitt expressed strong endorsements, while Comms. Hebert and
Massey concurred, citing areas where they felt the Commission had either
"over-reached" or not gone far enough, as discussed below.  A final order is
expected to be issued by year's end.

At the same time, the Commission warned California consumers of their
continued risk of paying higher prices unless policy makers there resolve
state issues, such as: (1) immediately implementing the availability of day
ahead markets for power purchases; (2) development of demand responses; (3)
siting of generation and transmission; and (4) assurance of sufficient
reserve requirements.

Highlights of Proposed California Structural Remedy

In its order, FERC proposed a series of market overhauls, including:

(1) Eliminating the state's mandatory requirement that the state's
investor-owned utilities buy and sell electricity through the PX, and allowing
these utilities to purchase electricity through forward contracts and other
alternative mechanisms to manage supply risks.

(2) Requiring market participants to schedule 95 percent of their
transactions in the day-ahead market and instituting a penalty charge for
under-scheduling (in excess of five percent of hourly load requirements), in
order to discourage over-reliance on the real-time spot market.

(3) Establishing independent, non-stakeholder governing boards for the ISO
and PX.

(4) Modifying the current single price auction system by (a) imposing a
temporary $150/MWh "soft cap" that prohibits supply bids in excess of $150
from setting the market-clearing price for all bidders; (b) requiring sellers
bidding above $150/MWh to report their bids to FERC on a confidential, weekly
basis and provide certain cost support; and (c) requiring the ISO and PX to
report monthly information on such bids.  The Commission's price mitigation
measures would remain in effect through December 31, 2002.

(5) Declining to order retroactive refunds for the state's ratepayers and
utilities, citing insufficient authority to do so, but subjecting sellers to
potential refund liability for transactions from October 2, 2000 until
December 21, 2002, but no lower than their marginal or opportunity costs, if
FERC finds non-competitive behavior.

(6) Encouraging accelerated state siting approval and introduction of demand
response management programs.

Separately, the draft order rejected the ISO's request for an extension of
its current purchase price cap authority, and the PX's request for price
capping authority.

Commissioner Responses

Comm. Herbert reluctantly concurred, noting that his decision may change when
a final order is considered based on comments filed or testimony offered at
the November 9 meeting.  He stressed that he would have preferred that the
order address four areas: (1) eliminate all price controls in California
markets; (2) abolish the single price auction entirely; (3) terminate the
"buy and sell" mandate in the PX; and (4) direct the ISO to address a long
list of cited problems in its January 2001 RTO filing, rather than having the
Commission prescribe specific remedies.

Hebert stated that while he was opposed in principle to the "soft cap"
concept, if one had to be adopted, then the soft cap should increase
incrementally increase over time at specific pre-announced dates.  He
believes that this would serve to both encourage greater investment in
facilities and additional forward contracting as well as provide an incentive
for California regulators to address market design and other flaws.  Also, he
would not have disbanded the stakeholder governing boards at this time, but
allow the ISO and PX to address this issue in their January 2001 RTO
filings.  In addition, he would not dictate risk management methods,
preferring instead that market participants determine appropriate actions on
their own.  Finally, he advised Californians not to be so environmentally
focused that they do not realize their tremendous need for generation
capacity.

Comm. Breathitt stated her approval of the Order while warning that FERC
cannot allow the events of this past summer to reverse or slow the progress
towards open and competitive markets.  She noted that it was the Commission's
job to guide the market to self-correct and not to conduct "command and
control."  She also commended the managers of the ISO and PX, saying that
they have performed admirably.  However, she noted she is awaiting comments
on the single price auction remedy and its accompanying confidential
reporting requirements.

Comm. Massey concurred, but emphasized that he advocates a more aggressive
approach.  He feels that the Congress has "put its thumb on the scale" in the
Federal Power Act to protect consumers.  Stating that prices will continue to
be unreasonable in the future, he believes that this Order moves in the right
direction, by proposing solutions to identified problems such as an over
reliance on the spot market, lack of demand response, the need to
reconstitute governance of the ISO and PX and the elimination of the buy/sell
mandate.  Comm. Massey specifically called for comments regarding whether the
$150/MWh soft cap went far enough, whether FERC has the legal authority to
issue refunds and to determine whether there should be a requirement for a
certain percentage of forward contracting to hedge against the spot market
price volatility.

Finally, Chairman Hoecker stated his strong support of the Order, but noted
that this is "no time to pull punches."  He emphasized that the Commission
needed frank comments from the industry.  He echoed Comm. Breathitt's warning
that competition is at risk and that they needed to get the markets back on
track.  Noting that the Commission lacked authority to order refunds, he
stated that the responsibility rests with Congress.  Addressing
jurisdictional issues, he stated that siting problems encountered at the
state level are slowing the "meandering transition" to competition.  He feels
that the state of California and FERC need to work together to resolve these
problems and that FERC is not attempting to usurp power.  Rather, California
is part of a broader interstate market and is dependent on the western region
for reliable energy, thus placing the burden on federal action to make things
work, Hoecker maintained.  The Chairman also said that the Commission will
fully investigate and act upon complaints of market power abuse or further
evidence provided by staff's ongoing investigation.

If you have any questions or comments, please call Jack Cashin at
202/508-5499.


Driscoll on curves and pricing---


Hey:
So I was thinking about your NY problem...I might have an answer.  The site
http://www.bestfares.com/internet_charts/hotel_internet.htm
lists cheap hotel specials.  The problem is they won't list them until the
Wednesday before the weekend.  Check it out though.  They have some
reasonable deals.
John