Don:

I hope that all is well on your end (Enron/Dynegy merger?) & that your
holiday was great.  I'll be interested to hear about your hunting fortunes!

As you suggested in our last conversation a few weeks ago, I'm following up
with you shortly after Thanksgiving.  I just left you a Vmail message to
continue the process in finalizing our win-win "business
arrangement/partnership" regarding the creation and trading of a TNE-Cinergy
index on EOL. I look forward to hearing from you in the near future.
Thanks.

Chuck Kaniuka
Director-Sales
215-504-4288, ext. 217


Ben, are you available at 9am on Monday re ABB?

Thanks

Kay


Sounds good.   I think we will significant synergy benefits immediately.   The cultural barriers will be broken down and information will flow from wholesale to retail and vice versa.


Shelley, I just found out this message did not go.  I am trying again.  Thanks Lynn
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Blair, Lynn <Lynn.Blair@ENRON.com>
To: 'shelly.corman@enron.com' <shelly.corman@enron.com>
CC: Blair, Lynn <Lynn.Blair@ENRON.com>
Sent: Sat Oct 20 19:46:45 2001
Subject: Update

Shelly, Just wanted to update you on a few things.

1.  Steve and I have been asked to work with McGown and Steve Kirk on the SLA settlement.  There is a meeting in Omaha we are attending on Wed. With Mary Kay and Dave.

2.  There is a marketing issue in relation to NNG procedures on monitoring stranger's gas.  There is a meeting Thursday morning with Dave and Mary Kay. After that mtg Dari, Mary and I are going to review procedures for any changes.

3.  I will conference in for Thursday's Customer Service mtg.
I hate not being there but I think these other meetings are big enough to have presence in Omaha

4.  The SoCal meeting was very beneficial. Only one possible variance from what we had previously heard.  There is a possibility SoCal could reduce capacity at ID2.  Pat and I talked abot TW concerns.  I will review with marketing and the team when I get back.

I love my Blackberry, but still getting used to typing on it.  Anxious to hear how the paging worked for you.

Hope your trip to Florida was good.  Also hope you can Make since of This email.

Thanks Lynn

--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Sara:  I don't recall whether or replied or not.  Wednesday or Thursday of this week fine with me.  Next week is failry open.

Lynn

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Tuesday, January 08, 2002 3:12 PM
To:	Aven, Lynn
Subject:	lunch?

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


Cheryl Kuehl - 39804 - will call if she gets topic


-----Original Message-----
From: Wolfe, Jason [mailto:Jason.Wolfe@ENRON.com]
Sent: Monday, October 08, 2001 7:03 PM
To: valerie.ridinger@alcoa.com
Subject: gas load at Aluminum Ingot plants

Ms. Ridinger:

I am an analyst studying industrial gas load in the northwestern United
States
and am attempting to place a number of aluminum plants. I believe I have
the
Northwest Pipeline DRN numbers for 3 of your 4 plants, but am not sure
which meter feeds your Ferndale, WA plant. Also, I would like to confirm
the DRNs
for the other three.
If you, or someone you could refer me to, could provide this information
I would
greatly appreciate it.

Thanks,
Jason Wolfe
Trading Analyst
Enron North America
713-853-0568

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


---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/28/2001
10:20 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 03/28/2001 09:19 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--3/28/01


Mark asked me to put you on the list.  I send this every two weeks to Mark
and Wade.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
11/30/2000 04:51 PM ---------------------------

Jane Wilson
11/30/2000 11:44 AM
To: Significant Events
cc:

Subject: Significant Events

Attached are Government and Regulatory Affairs' Significant Events report for
the last fortnight in November:


To: Dutch Quigley/HOU/ECT@ECT, Sherry Dawson/NA/Enron@Enron, Kori
Loibl/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Susan M
Scott/HOU/ECT@ECT, Laura Vargas/Corp/Enron@ENRON, Luchas
Johnson/NA/Enron@Enron, Rahmaan Mwongozi/Corp/Enron@ENRON, Gabriel
Monroy/HOU/ECT@ECT, Robin Rodrigue/HOU/ECT@ECT, Binh Pham/HOU/ECT@ECT
cc:

Subject: Info for updated contact list please

Extension: X5-8274

Home   713-528-1997

Cell  713-305-1502

Pager  No Pager


Tana, can you let me know if you can take care of this request from Valero?
Thank you  3-0543
---------------------- Forwarded by Larry Gagliardi/Corp/Enron on 05/11/2000
02:28 PM ---------------------------
Dale Neuner @ ECT   05/11/2000 08:59 AM

To: Larry.gagliardi@enron.com
cc:

Subject: Re: isda

Larry -

Please forward your request to Tana Jones, a paralegal who will certainly get
this to the right place. Tana can be reached at 3-3399.

Dale

---------------------- Forwarded by Dale Neuner/HOU/ECT on 05/11/2000 08:55
AM ---------------------------

Larry Gagliardi@ENRON
05/11/2000 08:20 AM
To: Dale Neuner/HOU/ECT@ECT
cc:
Subject: Re: isda

Dale, Pat  Markey referred me to you. Valero sent me this request, can you
process it or tell me who can?
---------------------- Forwarded by Larry Gagliardi/Corp/Enron on 05/11/2000
08:10 AM ---------------------------

wilsonj@valero.com on 05/10/2000 09:40:12 AM
To: larry.gagliardi@enron.com
cc: bowersk@valero.com, bhaecker@valero.com

Subject: Re: isda

Thanks for your call this morning.  I was in the middle of legging some gas
cracks and had to go.

Before we begin trading with you, we need to execute an ISDA.  I am
attaching a copy of our standard schedule.  We have this agreement in place
with all of the major dealers; and so, in general, we will not accept
substantial changes to the agreement, particularly with regard to credit
terms.

Again,  thanks for your call, and I look forward to dealing with you in the
future.

John
----- Forwarded by John Wilson/PEUSA on 05/10/2000 09:37 AM -----

(See attached file: Schedule 5500.doc)

 - Schedule 5500.doc


---------------------- Forwarded by Eric Bass/HOU/ECT on 01/29/2001 04:14 PM
---------------------------

From:  Lesli Campbell
    01/29/2001 02:40 PM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Deal # QM4771

Please rebook to Duke Energy Trading and Marketing.

Thanks

Lesli


PLEASE NOTE SPECIAL HOURS

Notice No. 01-349
October 23, 2001

TO:       All NYMEX Members/Member Firms
          All NYMEX Clearing Members
          All NYMEX Floor Traders
          All NYMEX Operations Managers

FROM:     George Henderson, Vice President

RE:       CORRECTED: Options Expiration Operational Procedures for the
Trading             Floor and Clearing Members - Revised Hours
________________________________________________________________

The expiration date for the November 2001 options contract for Unleaded
Gasoline (GOX1), Heating Oil (OHX1) and Natural Gas (ONX1) is Friday,
October 26, 2001.

GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 4:40 p.m.
until released by the Exchange staff as specified below.  All adjustments
and/or corrections, must be accompanied by relevant supporting
documentation
prior to being incorporated into expiration processing, in essence making
the expiration processing an extension of the afternoon trade resolution
procedures.  All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.

Exchange Clearing (299-2110), Floor Trade Processing (299-2068 and
299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option
Expiration Reports will be provided. The following screens will assist you
through the Option Expiration process:

MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trade=s adjusted for the previous 4 business
days by adjustment date.

SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.

REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers TO your firm and the status of
each transfer.

REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer FROM your firm and the status of
each transfer.

EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the
number
of long positions you wish to exercise.

DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the
number
of long positions you wish to abandon.

POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system.  This input may be made at any time prior to 5:55 p.m.  Any PCS
input via transmission for that contract series will be disregarded.

ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.

EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.

All Clearing Members are required to have an authorized representative(s)
at
their C21 workstations in preparation for any communication during the
expiration process.

FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.

E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.

The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:

STANDARD EVENT           APPROXIMATE TIME            USUAL   FAST
FACTS(F)
  MESSAGES                       OF MESSAGE        EVENT TIME
E-MAIL    (E)
                           AVAILABILITY
BOTH      (B)

Announce Out-of-the                 4:45PM          4:45PM        F
Money Exercise and In-the-Money
Do Not Exercise Submissions

Announce Final Input to C21         5:40PM          5:55PM        E
Cutoff Time

All positions are deemed final      7:00PM          7:00PM        F

Announce Exercise/Assignment        7:30PM          7:30PM        B
Information Available on the Single
Position Maintenance Windows

All Report Distribution is         10:00PM         10:00PM        F
completed

The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.

If you have any questions concerning these procedures, please contact
Anthony Di Benedetto at 299-2152 or John Ramos at 299-2142 prior to the
expiration date.

 <<EXPFORMSPEC.XLS>>

(See attached file: EXPFORMSPEC.XLS)

 - EXPFORMSPEC.XLS


Looks good--I'm faxing some minor comments.  Give George my best!  DF

Jeffery Fawcett
11/21/2000 01:17 PM
To: Drew Fossum/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron
cc: Susan Scott/ET&S/Enron@ENRON, Keith Petersen/ET&S/Enron@ENRON, Ronald
Matthews/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, James
Centilli/ET&S/Enron@ENRON

Subject: Proposal to Caithness Big Sandy

Attached for your review and comment is a broad outline of a rate proposal to
Caithness for the construction and operation of the 40-mile lateral to the
Big Sandy project.  This non-binding proposal was requested by Caithness'
consultant, George Briden, as a starting point for modeling the economics of
the project's gas supply and a basis for further discussions aimed at
designing an appropriate deal structure.  For your information, James
Centilli calculated the transport rate based on the (+/- 30%) $20.33MM cost
estimate with a ten-year (contract) amortization.

I plan to put this in the mail by the close of business tomorrow.  If you
have any suggestions, please let me hear from you by mid-day.   Thanks.


Is this the Electronic Broker Agreement I just mentioned to you, or is this
in addition to it?

From: Sara Shackleton on 10/31/2000 10:42 AM
To: Aneela Charania/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT
cc:
Subject: Bear Stearns & Co. Inc.

Someone please explain.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 10/31/2000 10:44 AM -----

	Sara Shackleton
	10/25/2000 11:42 AM

		 To: Sheila Glover/HOU/ECT
		 cc: Samantha Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron
		 Subject: Bear Stearns & Co. Inc.

A document entitled "Third Party Connection:  Customer Profile" showed up in
my inter-office mail.
What is this in relation to?  What company?  Who requested?   Why?
Thanks.  Sara


Hi there,

Trying to decide where to go on your next vacation?  So am I.
Right now, there are great deals everywhere.  Florida, Mexico,
the Caribbean, Las Vegas, Hawaii, California.  All your favorite
destinations.

Now that the cold weather is on its way (there were actually
some snow flakes up north) I'm starting to remember how it was
last Winter.  Wherever I decide to go, it's going to be somewhere
WARM.  Sunny days, warm nights, moonlight walks, good times.

With prices so low, it's the perfect time to make your vacation
plans.  See the sun, have some excitement, travel with your
family and friends.  It's always a good time to travel.  And
whenever you travel, you always have a good time!

Have fun on vacation!

John
Your Friend in Travel at Funjet Vacations

**********************************************************

HOUSTON to CANCUN

$349.95     3 Nights     Flamingo Cancun Resort & Plaza
                         ...All-inclusive!

System $aver price valid for 3 night vacations departing
Thu Nov 8, 15, 29, Dec 6 - 27 in "Z" class of service via
Allegro Airlines charter air.

$299.95     3 Nights     Gran Caribe Real Resort & Spa

System $aver price valid for 3 night vacations departing
Thu Nov 8, 15, 29, Dec 6 - 27 in "Z" class of service
via Allegro Airlines charter air.

$399.95     3 Nights     Tucan Cun Beach Resort
                         ...All-inclusive!

System $aver price valid for 3 night vacations departing
Thu Nov 8, 15, 29, Dec 6 - 27 in "Z" class of service via
Allegro Airlines charter air.

Visit HOT DEALS at http://www.funjet.com/hotdeals/index.htm
for a full range of vacation savings.

**********************************************************

FIND A TRAVEL AGENT

Contact one of our preferred travel agents.  Their years of
knowledge and experience can help you find the right vacation.

Find a preferred travel agent right now!
http://www.funjet.com/agents/recommend.htm

**********************************************************

Vacation Inclusions:  All vacations include roundtrip air from
origin airport listed, hotel accommodations, and roundtrip
airport/hotel transfers (international and Hawaii vacations only).
System $aver prices are per person, based on double occupancy,
subject to availability, not retroactive, subject to change
without notice, and based on the least expensive room category.
System $aver prices have special booking requirements available
online or through your travel agent.  International fees and taxes
of up to $75.65 per person are not included and are due with final
payment.  Air service is provided by airline listed.  The
Pre-Travel Penalty Waiver is not included in the advertised price.
Please refer to the Funjet Vacations Bill of Rights for terms and
conditions.

If you'd like to unsubscribe from this email specials list,
please visit http://www.funjet.com/unsub.htm

OT: mcuilla@ECT.ENRON.COM


The FINAL Violation Memos for 11/20/01 have been published and are available for viewing on the ERV: http:\\erv.corp.enron.com - Violation/Notification Memo Section.


Ken Lay has a video message for you about the Chairman's Award on "Up Front."  Please go to "Up Front" at http://home.enron.com/upfront/ to access it.  An audio option and transcript are available for employees who cannot access the video.

"Up Front" will feature open, honest and timely video messages from the Office of the Chairman and Enron management about what's going on around the company.

If you encounter technical difficulties, please contact your IT technical support representative.


The attached brochure is pretty good reference material for the project.
I've asked these guys to freshen up the status.

---------------------- Forwarded by Jeffery Fawcett/ET&S/Enron on 10/11/2000
08:47 AM ---------------------------

"George Briden" <gbriden.snakehill@worldnet.att.net> on 10/11/2000 07:22:02 AM
To: "Jeff Fawcett" <Jeffery.Fawcett@enron.com>
cc: "Tim Prenger" <tcprenger@aol.com>

Subject: Fw: Transwestern

Jeff;
Let us know if you require anything further on this subject.
GB

----- Original Message -----
From: <TCPrenger@aol.com>
To: <gbriden.snakehill@worldnet.att.net>
Sent: Friday, October 06, 2000 4:04 PM
Subject: Re: Transwestern

> George,
>
> The latest EIS Newsletter with schedule dates is attached and can be
> forwarded to Transwestern. It contains general information about the EIS
> process and status along with the schedule.
>
> Tim
>

 - 8-00news.pdf


Dear Jeff:

    Thank you again for extending me an invitation to be on your committee to
select the new Houston Fire Chief.  I look forward with much enthusiasm and
excitement to working with you and the committee members on this very
important project.

    I enjoyed our visit at the Doubletree immensely. It was great walking
down memory lane and recalling our days in Cambridge. We probably passed each
other at Harvard Square at some point during our time there.  As I said, I am
a great admirer of you and ENRON. The innovation, creativity and unique
(though soon to be widely copied) business plan make ENRON one of Houston's
(and the nation's, maybe also California's in the near future) great assets.

     Since the subject came up in our conversation, I will add a short
personal note. After reviewing several potential transactions this week, it
is quite possible that my partners and I will be entering into a "business
defining" transaction in the next two months. Since I am a lousy golfer, I
will be exploring new challenges.

    Thursday, at the fire station, should be fun. I can see you and the mayor
in one of the hook and ladder trucks for the photo op.

Take care,

Roel


----- Original Message -----
From: <diana.hollier@tpc-corp.com>
To: <jons@amerexenergy.com>
Sent: Tuesday, November 28, 2000 1:32 PM
Subject: FW: (no subject)

>
>
> -----Original Message-----
> From: Jeff Young [mailto:riskadvisors@yahoo.com]
> Sent: Tuesday, November 28, 2000 8:51 AM
> To: Scott E. Thompson; Debby Young; Tom Pisula; Jim Lindsay; Kathryn A
> Henline; Rob Derrick; Grant Farris; John Fioriello; 'Billy'; 'Di'; Rob
> Baker (E-mail); Daniel R Olson
> Subject: Fwd: (no subject)
>
>
>
> --- Yortex@aol.com wrote:
> > From: Yortex@aol.com
> > Date: Mon, 27 Nov 2000 17:56:57 EST
> > Subject: (no subject)
> > To: djs37@earthlink.net, riskadvisors@yahoo.com, Jentudor@aol.com,
> >         CLAFFEE1@aol.com, Cassandra_Louise@hotmail.com
> >
> > POSSIBLY THE VERY BEST CHICKEN JOKE EVER
> >
> >  A chicken and an egg are lying in bed. The chicken is leaning against
> > the
> > headboard smoking a cigarette, with a satisfied smile on its face.  The
> > egg, looking a bit pissed off, grabs the sheet, rolls over, and says
> > "Well,
> > I guess we finally answered THAT question." >>
>
>
> =====
> Jeff Young
> Risk Advisors, LLC
> 713-503-1963
>
> __________________________________________________
> Do You Yahoo!?
> Yahoo! Shopping - Thousands of Stores. Millions of Products.
> http://shopping.yahoo.com/


Chris,  The Amended Firm Gathering Agreements were executed back around July
1.  Lori should have copies of the executed documents.  I am solely refer to
the schedules attached to those amended Firm Gathering Agreements.  If you
don't have copies let me know.

	"Chris Hoekenga" <choekenga@br-inc.com>
	08/02/2000 01:24 PM
	Please respond to choekenga

		 To: <Gerald.Nemec@enron.com>
		 cc: <James.Hoff@enron.com>, <Mark.Whitt@enron.com>
		 Subject: re: Lost Creek Documents

Gerald, don't we need copies of the Firm Gathering agreements also since
we're changing to Firm Schedules?
---------- Original Text ----------

From: "Gerald Nemec" <Gerald.Nemec@enron.com>, on 8/1/00 2:02 PM:

Chris,  Attached are all the latest docs. redlined against the originals.

(See attached file: AMENDED AND RESTATED ADMIN3(RED) ORG.DOC)(See attached
file:
Amended and Restated CapAllExp Agreement8 (red) Org.doc)(See attached file:
Amended and Restated LLC Agreement2(red) Org.doc)


Kenneth L. Lay
 Chairman of the Board
 ENRON

"Garten, Jeffrey" <jeffrey.garten@yale.edu> on 02/28/2001 01:47:58 PM
To: "'Baker, Len'" <Len@shv.com>, "'Doerr, John'" <jdoerr@kpcb.com>,
"'Glaser, Rob'" <robg@real.com>, "'Kanarek, Larry'"
<larry_kanarek@mckinsey.com>, "'Kaufman, Henry'" <HHK@sprintmail.com>, "'Lay,
Kenneth'" <kenneth.lay@enron.com>, "'Lev, Baruch'"  <blev@stern.nyu.edu>,
"'Peretsman, Nancy'" <nperetsman@allenco.com>, "'Peterson, Peter'"
<carlsonl@blackstone.com>, "'Powell, Dennis'"  <depowell@cisco.com>,
"'Shedlarz, David'" <David.L.Shedlarz@pfizer.com>, "'Sherlund, Rick'"
<rick.sherlund@gs.com>, "'josephstiglitz@hotmail.com'"
<josephstiglitz@hotmail.com>, "'Varian, Hal'" <hal@sims.berkeley.edu>
cc: "'Koller, Tim'" <tim_koller@mckinsey.com>, "'Hubbard, Carolyn'"
<carolyn_hubbard@mckinsey.com>, "'Valles, Angela'" <avalles@kpcb.com>,
"'Giles, Jeanne'" <jeanne_giles@mckinsey.com>, "'Fleming, Rosalee'"
<rosalee.fleming@enron.com>, "'Boles, Kathy'" <kboles@allenco.com>, "'Ryan,
Diana'" <dryan@cisco.com>, "'jean.koentop@stanford.edu'"
<jean.koentop@stanford.edu>, "'jeanne.mott@gs.com'" <jeanne.mott@gs.com>,
"'Lliming@real.com'" <Lliming@real.com>
Subject: Panel on Valuation -- Next Steps

We plan to distribute the final draft by mid-March in time for you to take
one last careful look before a conference call at the end of the month, and
also for you to submit any supplementary views for inclusion. My suggestion
is that views be kept to a few paragraphs, if possible. For those who wish
to write one, you could disagree with part of the report, you could suggest
a slightly different emphasis on some aspect of the report, or you could
underline some aspect that you are especially enthusiastic about and believe
deserves more attention.

When we send the next draft to you I'll try to propose something about how
we might release the report, but I would appreciate any suggestions you have
about that.

Here are two proposed dates for our next conference call. Please indicate
your availability by preference (#1, #2).

(#2) Wednesday, March 28, 5-6:30 PM
     (Eastern Standard Time)

(#1) Thursday, March 29, 5-6:30 PM
     (Eastern Standard Time)

Could you also send us the precise way that you would like your name and
title to appear in the report?

Many thanks,

Jeff Garten


When did Bay State bill ENA for this?  And, did Bay State pay there bill for
gas ENA sold them or did they deduct this from the payment?

It does work out to 5,500 dt per day at $.09.

Isabel Y Resendez
09/21/2000 10:58 AM
To: Chris Germany/HOU/ECT@ECT
cc: Genaro Mendoza/NA/Enron@Enron, Elizabeth L Hernandez/HOU/ECT@ECT
Subject: Re: Bay State

Hello Chris,
Remember the demand charge that was entered in the sales side that you killed
about a week ago?(deal # 233091)  Well, the demand charges need to be in the
purchase side not the sales side.  Per Bay State, Enron should be paying the
demand charges.  Are they correct???  Bay State is also charging interest for
late payment.  Please let me know if you need any more information.
Production month Amount
April   $14,850.00
May   $15,345.00
June   $14,850.00
July   $15,345.00
August   $15,345.00
Interest   $926.32

---------------------- Forwarded by Isabel Y Resendez/HOU/ECT on 09/21/2000
10:47 AM ---------------------------

Isabel Y Resendez
09/20/2000 09:14 AM
To: Elizabeth L Hernandez/HOU/ECT@ECT
cc: Genaro Mendoza/NA/Enron@Enron
Subject: Re: Bay State

Good morning Elizabeth,
Do you know if Chris put in the demand charge on the purchase side???
Bay State is charging Genaro the demand charge on the purchase side.
Thank you for you help
isabel

Elizabeth L Hernandez
09/11/2000 10:37 AM
To: Isabel Y Resendez/HOU/ECT@ECT
cc:
Subject: Re: Bay State

I forwarded this information to Chris Germany and I know he was working on it
Friday.  I will get with him today to find out what the status of this issue
is.  I'll get back with you.

Isabel Y Resendez
09/11/2000 10:34 AM
To: Elizabeth L Hernandez/HOU/ECT@ECT
cc:
Subject: Re: Bay State

Good Elizabeth,
Could you give me an update on this matter.  Please let me know if you need
anything from me or if you want me to speak to someone.

Thank you
isabel
---------------------- Forwarded by Isabel Y Resendez/HOU/ECT on 09/11/2000
10:29 AM ---------------------------

	Enron North America Corp.

	From:  Shawna Johnson @ ENRON                           09/05/2000 11:32 AM

To: Isabel Y Resendez/HOU/ECT@ECT
cc:
Subject: Re: Bay State

I have forwarded the following request to Elizabeth Hernandez.  She handles
the East desk.  Any deals regarding the Central, Ontario or West desk please
send to me!!

:  )
smj

Isabel Y Resendez@ECT
09/05/2000 10:40 AM
To: Shawna Johnson/Corp/Enron@ENRON
cc:

Subject: Bay State

Shawna,
I am Isabel and I work in Gas Settlements.  Could you help me out with the
following?

Deal # 233091 for Bay State is charging a demand charge every month.
Accourding to Bay State Enron should not be charging demand charges.  Could
you let me know if this correct.  Should Enron be charging demand charges?
Maureen Smith is down as the trader on the deal.  However, I am not sure if
that is correct.  Please let me know if you are not the correct person to
send this note too.
Thank you for your help!
isabel
3-0440


-----Original Message-----
From: 	Prevatt, Ross
Sent:	Thursday, May 24, 2001 10:31 AM
To:	Patel, Sheetal
Subject:


Greetings, Mr. Rogers

My thanks for your prompt and thoughtful reply.

As I interpret your note, it is not your desire to accept our offer to
retake the GMAT at this time.  Accordingly, I will be adding this latest
addition to your application packet.

Apart from what you have already submitted, is there any other new
material(s) you wish to be considered in the applications final review?

Carl
********************************
Dr. Carl H. Harris
Director for Admission, MBA Programs
The TEXAS Graduate School of Business
The University of Texas at Austin
==============================================

-----Original Message-----
From: Benjamin Rogers [mailto:Benjamin.Rogers@enron.com]
Sent: Sunday, March 12, 2000 3:14 PM
To: harrisc@mail.utexas.edu
Subject: Re: The TEXAS Graduate School of Business - Rogers

(See attached file: Dr. Carl Harris.doc)


Don't know if this is true but it's still funny!

Subject: Stupid is as Stupid Does

> This could be possibly the funniest story in a long while. This is a
> bricklayer's accident report, which was printed in the newsletter of the
> Australian equivalent of the Workers' Compensation board. This is a true
> story. Had this guy died, he'd have received a Darwin Award for sure....
>
>  Dear Sir
>
>  "I am writing in response to your request for additional information in
> Block 3 of the accident report form. I put "poor planning" as the cause of
> my accident. You asked for a fuller explanation and I trust the following
> details will be sufficient.
>
>  I am a bricklayer by trade. On the day of the accident, I was working
alone
> on the roof of a new six-story building. When I completed my work, I found
> that I had some bricks left over which, when weighed later were found to
be
> slightly in excess of 500 lbs. Rather than carry the bricks down by hand,
I
> decided to lower them in a barrel by using a pulley, which was attached to
> the side of the building on the sixth floor.
>
>  Securing the rope at ground level, I went up to the roof, swung the
barrel
> out and loaded the bricks into it. Then I went down and untied the rope,
> holding it tightly to ensure a slow descent of the bricks. You will note
in
> Block 11 of the accident report form that I weigh 135lbs.
>
>  Due to my surprise at being jerked off the ground so suddenly, I lost my
> presence of mind and forgot to let go of the rope. Needless to say, I
> proceeded at a rapid rate up the side of the building. In the vicinity of
> the third floor, I met the barrel, which was now proceeding downward at an
> equal, impressive speed. This explained the fractured skull, minor
> abrasions and the broken collar bone, as listed in section 3 of the
accident
> report form.
>
>  Slowed only slightly, I continued my rapid ascent, not stopping until the
> fingers of my right hand were two knuckles deep into the pulley.
> Fortunately by this time I had regained my presence of mind and was able
to
> hold tightly to the rope, in spite of beginning to experience a great deal
> of pain.
>
>  At approximately the same time, however, the barrel of bricks hit the
> ground and the bottom fell out of the barrel. Now devoid of the weight of
> the bricks, that barrel weighed approximately 50 lbs. I refer you again to
> my weight. As you can imagine, I began a rapid descent, down the side of
the
> building. In the vicinity of the third floor, I met the barrel coming up.
> This accounts for the two fractured ankles, broken tooth and several
> lacerations of my legs and lower body.
>
>  Here my luck began to change slightly. The encounter with the barrel
seemed
> to slow me enough to lessen my injuries when I fell into the pile of
bricks
> and fortunately only three vertebrae were cracked. I am sorry to report,
> however, as I lay there on the pile of bricks, in pain, unable to move, I
> again lost my composure and presence of mind and let go of the rope and I
> lay there watching the empty barrel begin its journey back down onto me.
> This explains the two broken legs.
>
>  I hope this answers your inquiry."
> Tony C.
>
>


Helyette,

Thanks for your message. I am in London right now and I shall attend the RISK conference
this week. Stinson Gibner left Enron and I have  another person in charge of software.
I hope to close the loop in the next few days.

Vince

 -----Original Message-----
From: 	GemanIX@aol.com@ENRON [mailto:IMCEANOTES-GemanIX+40aol+2Ecom+40ENRON@ENRON.com]
Sent:	Sunday, June 24, 2001 2:18 PM
To:	vkamins@enron.com
Cc:	VKaminski@aol.com
Subject:	Software

Dear Vince,
Your collaborator had kindly sent me a new contract proposal 5 weeks ago.He was supposed to have it checked by your lawyers but I never heard from him again.
I have been approached by 2 major software companies
and may sign some kind of agreement with one of them.
I believe it would be better to finalize our project
before it becomes a subset of a huge machinery.
Will you be in London on June 28?
I fly to the States on July 6,will be in New York on
the 8&9 and in Houston on the 15&16 of July
Hoping to see you or get some news
Helyette


FYI -
---------------------- Forwarded by Matthias Lee/SIN/ECT on 09/04/2000 09:06
AM ---------------------------

"skhong (Suhn-Kyoung Hong)" <skhong@kimchang.com> on 09/02/2000 03:15:31 PM
To: <Matthias.Lee@enron.com>
cc:

Subject: Re: EnronOnline Legal Survey - Korea

Today's newspaper in Korea reported that a seminar on weather insurance and
weather derivatives was held at the Bureau of Insurance Development where
officers of insurance companies as well as futures companies emphasized the
need for weather insurance and weather derivatives.  I thought you might be
interested.  Regards,

>>> "Matthias Lee" <Matthias.Lee@enron.com> 08/25/00 04:49pm >>>

Dear Ms Hong

Thank you for your memo dated 12 July 2000 on EnronOnline and our various
telephone discussions on the matter.

I had previously enquired on the consequences of not obtaining the relevant
approvals or filing the relevant report with the Bank of Korea. You advised in
your memo thatthe Korean counterparty would not be able to remit its payments
under the transaction and that the Supreme Court of Korea has ruled that
foreign
exchange authorization must be obtained before a judgment can be executed
against a Korean party and the proceeds remitted.

Your advice was certainly pertinent to our assumption that transacting Enron
affiliates would all be off shore to Korea, kindly clarify whether the
inability
to remit foreign exchange is the only consequence. Accordingly, what would be
the consequences of not filing a report or obtaining approval from BOK where
the
two contracting parties are on shore Korean entities?

I tried to call you today, but understand you are on vacation until 28 August
2000. I would be most grateful if you could answer the above question when you
return.

Many thanks
Matt

-------------------------------------------------------------
E-Mail  : lawkim@kimchang.com
Tel.    : +822-3703-1114
Fax     : +822-737-9091
Address : Seyang Building, 223 Naeja-Dong, Chongro-Ku, Seoul, Korea 110-720

This e-mail is intended for the exclusive use of the individual or entity
named above and may constitute information that is privileged or confidential
or otherwise protected from disclosure.  Dissemination, distribution,
forwarding or copying of this e-mail by anyone other than the intended
recipient is prohibited.  If you have received this e-mail in error, please
notify us immediately by telephone or e-mail and completely delete or destroy
any and all electronic or other copies of the original message.
-------------------------------------------------------------


Enron Global Travel Management (a division of Global Strategic Sourcing) is
pleased to announce that American Express Corporate Cardholders can now view
account details Online.

Highlights of this service include:
 Review previously billed, current, and unbilled charges
 Review corporate direct payments and personal payments applied to your
account
 Dispute a charge online, if needed
 Access customer service 24 hours a day, 7 days a week

To Log On to American Express Online Services:
GSS has prepared a special registration/log on page for Corporate Cardmembers
for your convenience.  To access it, go to http://travel.enron.com and click
on the Corporate Card button.

Cardmembers with cards issued within the last 45 days, need to call American
Express customer service to enroll.  The number is 1-800-297-1234.

If you have already registered your Personal American Express Card in the
American Express Online Services program:
Please click on the "Check Your Bill" link and login using your existing User
ID and password.  You will be able to add your American Express Corporate
Card to your existing registration by clicking on the "Update your Online
Profile" link which appears on the left hand menu bar once you are logged in.

We hope you enjoy using American Express Online Services.

For questions or additional information, contact Tracy Ramsey (Director,
Global Travel Management) at 713/853-6457.


Amazon.com logo	your account

	Thanks for your order, Eric P. Bass!

	If you ordered several items to be delivered to the same address, we might
send them in separate boxes to ensure quicker service. But don't worry: you
won't be charged any extra shipping fees.

	Thanks again  for shopping with us.

	Amazon.com  Customer Service

	Manage Your Account:

	Did you know you can view and edit your orders online? Click on Your Account
to:

	Track order status
	Combine orders
	Change payment options
	Edit shipping address
	Cancel unshipped items
	Change gift messaging
	do much more...

	Purchasing Information:

	Your  purchase reads as follows:

	E-mail  Address:??ebass@enron.com

	  Billing Address: ??
	Eric P. Bass
	2302 Travis St.
	#8225
	Houston, TX 77006
	USA
	713.853.0977

	  Subtotal:
	  ?
	  $    62.51
	  Shipping & Handling:?????????
	  ?
	  $     6.28

	?
	------
	Total Before Tax:
	?
	$    68.79
	Tax:
	?
	$     0.00

	?
	------
	Purchase Total:
	?
	$    68.79

	?  Order Summary:

	Order #1: (Order #107-2294148-4912521)

	Eric P. Bass
	2302 Travis St.
	#8225
	Houston, TX  77006
	USA

	Shipping method: Standard Shipping
	Shipping preference: Ship when all items are available.

	[IMAGE]
	1
	 "The Ten Things You Can't Say in America"
	 Larry Elder; Hardcover; @ $19.16 each
	Usually available in 24 hours

	[IMAGE]
	 1
	 "Drudge Manifesto"
	 Matt Drudge, Julia Phillips(Contributor); Hardcover; @ $18.36 each
	Usually available in 24 hours

	[IMAGE]
	 1
	 "Hoffritz 16-Ounce Chrome Cocktail Shaker"
	Kitchen; @ $24.99 each
	Usually available in 24 hours

	You can make changes to any unshipped orders in  Your Account. If you've
explored the links on that page but still need to get in touch with us about
your order, e-mail us at orders@amazon.com.

	Thanks again for shopping at Amazon.com!

	Amazon.com
	Earth's Biggest Selection

	Some Ideas for Your Next Visit:
	 [IMAGE] The O'Reilly Factor
	by Bill O'Reilly
	Our Price: $13.80

	 [IMAGE]SellOut
	by David P. Schippers, Alan P. Henry
	Our Price: $22.36

	[IMAGE] See All Your Recommendations
	unsubscribe icon?Prefer not to receive HTML Mail? Click here

	 Free Shipping

	?

	Best of 2000  Our  customers and editors have chosen! Check out the results.

	?

	Give the Gift of Choice
	Send an Amazon.com gift certificate with one of our free e-cards.

	?

	Create a Wish List And  see what
	magic it brings.
	Click here  for details.

	?

?
?


Reliant request to continue use of this contract's capacity for the period
September 1 through September 30, 2001 as agreed upon in our phone
conversation this morning.


Attached is a copy of the press release describing the gas rule.

I've heard through the grapevine that pipelines (not GPG) are already
complaining that there
is  "nothing in it for pipelines."   I think we should be cautious about
being so critical before we have even seen
the rule itself.  After all, many of the items in the rule are there at the
pipelines request (seasonal & term-differentiated rates).

I hope to be able to send out a summary on Friday.


Kevin -

I will be in Dallas today and will miss our weekly meeting.  Dale has a very good presentation for the group.  If you would like Berney to attend on my place let him know.

Other issues:

I left Janet a voice mail y-day on LSE's and she returned it saying she wanted to discuss with me this am and that they have already allocated those LSE's to deals.  I have asked Joe to come up with all of our alternatives in order to get additional LSE's and to provide me with detailed reasons why we need them.  I don't want to make this into too big of a deal so we will assess all options.
Site Profile:
Vlady and Woulfie feel that they need to be able to buy/sell shaped swaps to manage their "risk".  I don't think so.  Essentially, they had proposed that they can look at all commodity deals that get executed and "keep" part of the deal for their book.  I told them that this was ludicrous.  They even indicated that they might want to just buy certain hours for certain megawatts.  My position is that 1) they do not need to trade swaps - shaped or not - to manage their portfolio as the forecast should always contain their best view of the market and outright swaps would be VAR increasing, 2) only one desk - the commodity desk - should manage shape, 3) i do not offer shaped products as a tradeable product at this time 4) they already will own/manage products that best mitigate their risks and that I would have to buy to cover - DG, Load Curtailment, DSM, etc.  Anyway, I have had several discussions with them and I think Vlady understands where I am coming from.  In case this comes up you will know my thoughts.

Load Forecasting:  I need to spend some time with Tim, Jeff, Ozzie, Vlady, Woulfe, but I really would like to see us roll Retail Load Forecasting (Mike Frazier) into ROC.  Who officially owns ROC (Lloyd?).

I will be available buy cell or pager if you need me.

RH

 -----Original Message-----
From: 	Furrow, Dale
Sent:	Thursday, October 18, 2001 7:46 AM
To:	Lavorato, John
Cc:	Belden, Tim; Herndon, Rogers
Subject:	Presentation: URM

John,
Tim and Rogers asked me to put together a presentation on URM for you and the Thursday meeting.  I'm finishing it now.  If we have time on the agenda (figure about 1/2 hour--14 slides) I'd like to do it today.  Please let me know.

Thanks,
Dale


Please update your estimate needs for 4/00 by March 27, 2000 @ 5:00pm est.

Thank You
Joann


Luanne:
You are right.  There is no need to make a change so we will just amend the
MAC language.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"Giessen, Luanne" <luanne.giessen@gs.com>
	06/28/2000 08:57 AM

		 To: "'Carol St Clair'" <Carol.St.Clair@enron.com>
		 cc: Tana Jones <Tana.Jones@enron.com>
		 Subject: RE: MAC Amendment

I don't have a problem, but would like to know why the change for Goldman
Group.  That is a defined term -- see Part 3.

Luanne Giessen
Telephone:  (212) 902-0580
Facsimile:  (212) 428-1582
e-mail address:  luanne.giessen@gs.com

-----Original Message-----
From: Carol St Clair [mailto:Carol.St.Clair@enron.com]
Sent: Tuesday, June 27, 2000 5:35 PM
To: Giessen, Luanne
Cc: Tana Jones
Subject: MAC Amendment

Luanne:
Our credit person is fine with revising the MAC language to say taht a MAC
would
be triggered if either (1) an entity's Credit Support Provider's rating from
S&P
is below BBB- by S&P or Baa3 by Moody's or (2) if such Credit Support
Provider
fails to be rated by both S&P and Moody's.  Also, in Sections 4.5 and 4.6 of
the
ISDA Schedule we would like to change the reference to "Goldman Group" to
"The
Goldman Sachs Group, Inc."

I will have Tana Jones draft an amendment and send it to you.  Call me if
there
are any problems with the above.

Tana,
Please draft an amendment for my review.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Teresa Smith was my contact on this one.

	Louise Kitchen
	06/29/2000 09:21 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Dave Samuels/HOU/ECT@ECT, Julie Ferrara/HOU/ECT@ECT, Rahil
Jafry/HOU/ECT@ECT, Bob Shults/HOU/ECT@ECT, Michael Danielson/HOU/ECT@ECT, Kal
Shah/HOU/ECT@ECT, Daniel Diamond/HOU/ECT@ECT, David Forster/Corp/Enron@Enron,
Teresa Smith/Corp/Enron@Enron
		 Subject: Re: OuterCurve Technologies, Inc.

Anybody claiming this one?

From: Tana Jones on 29/06/2000 09:20
To: Dave Samuels/HOU/ECT@ECT, Julie Ferrara/HOU/ECT@ECT, Rahil
Jafry/HOU/ECT@ECT, Bob Shults/HOU/ECT@ECT, Louise Kitchen/HOU/ECT@ECT,
Michael Danielson/HOU/ECT@ECT, Kal Shah/HOU/ECT@ECT, Daniel
Diamond/HOU/ECT@ECT, David Forster/Corp/Enron@Enron, Teresa
Smith/Corp/Enron@Enron
cc:

Subject: OuterCurve Technologies, Inc.

We have received the executed Confidentiality Agreement with the referenced
Counterparty dated June 18, 2000.  Copies will be be sent Dave Samuels and
Teresa Smith.


Start Date: 1/19/02; HourAhead hour: 19;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011919.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


Danny,

The attached below is where we will be for margins.  This is what we talked about last week.   The other expenses associated with commercial seem to be flat to plan.   I do not have anything else for you at this time.  I should have something by tomorrow and I will send to Julie.

Thanks

Tracy
---------------------- Forwarded by Tracy Geaccone/GPGFIN/Enron on 02/20/2001 02:56 PM ---------------------------

Tracy Geaccone
02/15/2001 05:39 PM
To:	John Keiser/FGT/Enron@ENRON
cc:

Subject:	Re:

John Keiser
02/15/2001 05:04 PM
To:	Tracy Geaccone/GPGFIN/Enron@ENRON
cc:

Subject:

<Embedded StdOleLink>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/06/2001
02:44 PM ---------------------------

	Enron North America Corp.

	From:  William Smith @ ENRON                           04/06/2001 01:54 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Revised from Steve Bigalow

Vince,

I just got this from Steve.  It is his latest version.

Sam

---------------------- Forwarded by William Smith/Corp/Enron on 04/06/2001
01:53 PM ---------------------------

Steve Bigalow
04/06/2001 01:51 PM
To: William.Smith@Enron.com
cc:

Subject: 3rd


1.

                       COMMENT & ANALYSIS: Stretching the figures: Calculating
                       accurate values for companies in the new economy takes
more
                       than a grasp of mathematics - a dash of economics,
politics and
                       logic would not go amiss, says John Kay:

                    COMMENT & ANALYSIS: Stretching the figures: Calculating
accurate
                    values for companies in the new economy takes more than a
grasp of
                    mathematics - a dash of economics, politics and logic
would not go
                    amiss, says John Kay:
                    87% match; Financial Times ; 24-Apr-2000 12:00:00 am ;
1170 words

                    Do the math. The slogan favoured by Jim Clark, creator of
Silicon Graphics,
                    Net-scape and Healtheon, has become the mantra of a
generation of
                    consultants and investment bankers. The new economy, they
claim, requires
                    new principles of valuation.

                    C.com is one of the most exciting prospects in
business-to-business
                    commerce. It is the world leader in a growing market -
annual sales by 2010
                    are likely to be Dollars 500,000bn. If C.com can maintain
a 5 per cent share
                    and earn only 1 per cent net margin its prospective
annual earnings will be
                    Dollars 250bn.

                    If we assume that market growth after 2010 is 5 per cent
and discount future
                    revenues at 10 per cent, the prospective value of C.com
is Dollars 5,000bn -
                    about 10 times the recent market capitalisation of
Microsoft, Cisco or General
                    Electric.

                    You don't have to wait for the IPO. You can buy shares in
C.com right now for
                    less than 5 per cent of that value. C.com is called
Citigroup and in addition to
                    its foreign exchange trading, which is the business I
have described, you get
                    its other wholesale, retail and investment banking
activities and a leading
                    insurance company thrown in.

                    Of course, nobody would be so stupid as to value
Citigroup in this way. Yet I
                    have followed more or less exactly the methodology
recommended in the
                    latest McKinsey quarterly for the valuation of new era
companies. They use
                    precisely analogous calculations to arrive at a valuation
of Dollars 37bn for
                    Amazon.com.

                    Paul Gibbs, head of merger and acquisition research at
J.P. Morgan, recently
                    used similar principles to confirm that assessment of
Amazon. He then
                    performed the same calculation for internet service
provider Freeserve.

                    Assume that UK retail sales grow at 5 per cent a year,
that 25 per cent of
                    sales take place on the net, that portals capture 50 per
cent of these, that
                    Freeserve gets 30 per cent of the portal share and
maintains an 8 per cent
                    commission on sales. Multiply these together and you
establish that in 2017
                    Freeserve will make profits of o2bn (Dollars 3.2bn).
This, he argues, justifies a
                    value today of o6.50 per share.

                    But I prefer T.com to Freeserve. T.com has a customer
base four times larger
                    than Freeserve. Its franchise is stronger. Its customers
are concentrated in
                    the affluent south-east of England, where it faces
virtually no competition.
                    Market research shows that more than 95 per cent of its
customers use its
                    essential services every day, many of them several times
a day.

                    T.com also has ambitious plans for expansion. At present,
its geographical
                    coverage is less than one-quarter of the market in
England and Wales. T.com
                    has an interest in south-east Asia. The population of
China is 100 times the
                    number of people who today can access T.com services.
Even after the recent
                    market correction, T.com, better known as Thames Water,
still has a market
                    valuation below that of Freeserve. At the widest point
between the old and new
                    economies, Freeserve was worth four times as much.

                    The reason the Citibank calculation is nonsense is
simple, but fundamental.
                    The margins Citibank makes on its forex business vary
widely. If you buy
                    small quantities of notes from a bank, the spread is much
wider than 1 per
                    cent. If you are a large corporation trading major
currencies, the margin is
                    wafer thin. Entry and competition force prices down to
the related costs.

                    In Mr Gibbs's model, Freeserve earns profits of o2bn,
about equal to the
                    current profits of Tesco, J. Sainsbury and Marks and
Spencer together. And it
                    earns these on revenues of only o2.5bn, so that profits
are 80 per cent of the
                    value of its sales. No established business earns margins
of that size.

                    Thames Water is one of a tiny number of companies whose
market position is
                    so strong, whose output is so necessary to life, that if
it charged five times the
                    current price we would have little choice but to pay. We
do have one option -
                    to insist the government intervenes. It confines Thames
Water to a return on
                    its capital employed of about 6 per cent.

                    The idea that profit is a return on capital invested
still has some role in new
                    economy valuation, at the level of the overall market.

                    There is a key formula in the new math. The required
yield on a security is
                    equal to the difference between the rate of return
demanded from that class of
                    securities and its expected rate of growth. So, if you
expect a return of 5.5 per
                    cent from a share whose dividends will grow at 5 per
cent, calculations show
                    that the dividend yield should be 0.5 per cent.

                    This is the calculation done by James Glassman and Kevin
Hassett in their
                    book Dow 36,000*. Claiming that sustainable dividends
average half of
                    earnings, this yield equates to a price/earnings ratio of
100 - implying a target
                    of 36,000 for the US index.

                    The trouble with this theory is that it takes too long to
produce what the
                    investor is looking for. Investors will receive only
two-fifths of the cash
                    sustaining the valuation this century. One-third of the
total depends on
                    dividend cheques that will arrive after 2200.

                    Two hundred years ago, well before the Dow Jones average,
prudent,
                    diversified investors would have owned slave traders and
sugar plantations, or
                    perhaps a bold speculation in that symbol of the then new
economy -a canal.
                    The next 200 years may be more stable than the last and
Microsoft and Cisco
                    may prove more enduring than plantations. But we can
hardly be sure.

                    While 5 per cent may be a reasonable assumption for the
growth rate of
                    dividends in the US economy as a whole, it is likely that
well before 2200
                    most of these will come from companies not yet founded.

                    Suppose we accept Glassman and Hassett's protests that
their dividend
                    growth expectations are conservative. If you raise them
only from 5 per cent to
                    5.25 per cent, the anticipated value of the Dow Jones
average is 72,000. At
                    5.5 per cent the formula breaks down because the shares
of US companies
                    are infinitely valuable. Not even the most credulous
dotcom investor believes
                    that.

                    The math also works in reverse. If expectations of return
are 6 per cent rather
                    than 5.5 per cent, the market p/e ratio falls to 50 and
the value of the Dow
                    Jones from 36,000 to 18,000. And if equity investors
require a return of 8 per
                    cent, you would have to conclude that shares are worth
only half their current
                    level.

                    An 8 per cent expected total return is not ambitious for
an equity investor. A
                    day trader might think you were talking about a weekly
profit rather than
                    annual. Glassman and Hassett use a figure as low as 5.5
per cent - the return
                    on Treasury bonds - because they argue that equities have
so consistently
                    outperformed bonds that there is now no risk associated
with equity
                    investment. In other words, because equities are sure to
offer higher returns
                    than bonds, the expected yield on equities should be the
same as on bonds.

                    You do not have to be Wittgenstein to spot the flaw. The
rules of logic hold
                    even in cyberspace, and so do the principles of
economics. Profits are hard to
                    earn in competitive businesses, and markets that are not
competitive are
                    usually regulated. The value of companies ultimately
depends on their
                    capacity to generate cash for shareholders. Distant
returns are uncertain.
                    Share prices are volatile, and investors need to be
compensated for the risks.
                    These truths are as valid in the new economy as the old.

                    By all means do the math. Isaac Newton, who could do the
math better than
                    most, gave up an annuity of o650 per year to invest in
the South Sea Bubble.
                    In addition to the math, you need the econ, the pol, and
perhaps the
                    psychology.

                    * Dow 36,000: The New Strategy for Profiting from the
Coming Rise in the
                    Stock Market, James K. Glassman & Kevin A. Hassett,
Random House,
                    1999.

                    The author a director of London Economics.

                    Copyright , The Financial Times Limited


Suzanne:  thanks for your help and your prompt attention.
---------------------- Forwarded by Randall L Gay/HOU/ECT on 01/11/2000 04:11
PM ---------------------------

Jennifer deBoisblanc Denny
01/11/2000 03:48 PM
To: Randall L Gay/HOU/ECT@ECT
cc: William Kelly/HOU/ECT@ECT, Frank Ermis/HOU/ECT@ECT, Dale
Neuner/HOU/ECT@ECT, Imelda Frayre/HOU/ECT@ECT, David Forster/LON/ECT@ECT
Subject: New Phys Gas Locations

Randy,
We are in the process of setting up the following locations in red below in
EOL as requested by Frank Ermis.
We need to get the pipe , zone (both required) and meter, if applicable,
commercial would like these locations mapped into Sitara.
In order for these locations to flow into position manager in Sitara
automatically (instead of manuelly entered) when these locations are hit on
EOL,
we need this information. Can you provide this information as soon as
possible?

Thank you for your help!

---------------------- Forwarded by Jennifer deBoisblanc Denny/HOU/ECT on
01/11/2000 03:12 PM ---------------------------

Dale Neuner on 01/11/2000 02:20:58 PM
To: Jennifer deBoisblanc Denny/HOU/ECT@ECT, Frank Ermis/HOU/ECT@ECT
cc: dforster@enron.com
Subject: New Phys Gas Locations

Frank would like to see the following 3 Locations approved from trading:

First:

Opal; which is already set up as a Location and is out in DRAFT. Dave, I've
already asked Frank to have Jeff Shankman look at thh product and offer
approval. Please review.

Then:

Location: PGT Malin
Abbreviation: PGT Malin
Sort Code: 2850
Description: The transaction is for delivery at Pacific Gas Transmission
Company - Malin.

Location: PG&E Pool
Abbreviation: PG&E Pool
Sort Code: 2840
Description: The transaction is for delivery at Pacific Gas & Electric
Company - City Gate Pool Gas.

Jennifer; can you check with the logistics guys and make sure these are good
points and descriptions. Malin Lines 400 and 401 are no longer used, and PGE
is City Gate Pool Gas.

Frank, if you could review the descriptions also and offer comments I'd
appreciate it.

Dale
3-9746


----- Forwarded by Tana Jones/HOU/ECT on 11/14/2000 04:22 PM -----

	Jon Chapman
	11/14/2000 03:42 AM

		 To: Tana Jones/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: FW: Good luck America

And so it goes on .........
---------------------- Forwarded by Jon Chapman/LON/ECT on 14/11/2000 09:44
---------------------------

David_Davies@chubb.com.au on 14/11/2000 05:21:06
To: tim@boomad.com.au, Jon.Chapman@enron.com, mmdalyell@statestreet.com
cc:

Subject: FW: Good luck America

David Davies
National Manager - Chubb Traffic Services
02 9930 4318 / 0401 77 66 18

---------------------- Forwarded by David Davies/NSW/Chubb on 14/11/2000
03:22 PM ---------------------------

Tony Ayers <tony@secureparking.com.au> on 14/11/2000 04:15:44 PM

To:   "David Davies (E-mail)" <David_Davies@chubb.com.au>, "Mark Langan
      (E-mail)" <mlangan@candlerecruit.com>, "Patrick O'Callaghan (E-mail)"
      <patricko@cityford.com.au>, "Tony Ayers (E-mail)"
      <aayers@ozemail.com.au>
cc:

Subject:  FW: Good luck America

-----Original Message-----
From:     paul.g.smith@customs.gov.au <mailto:paul.g.smith@customs.gov.au>
[SMTP:paul.g.smith@customs.gov.au]
<mailto:[SMTP:paul.g.smith@customs.gov.au]>
Sent:     Tuesday, 14 November 2000 15:13
To:  sculleys@flex.com.au; <mailto:sculleys@flex.com.au;>
tony@secureparking.com.au; <mailto:tony@secureparking.com.au;>
wise@goldn.com.au; <mailto:wise@goldn.com.au;>  anderson@fan.net.au
<mailto:anderson@fan.net.au>
Subject:  FW: Good luck America

These are some quotes attributed to the would be American President
George
Bush
Perhaps this is how upper management speak?
Subject:  Good luck America....

"The vast majority of our imports come from outside the country."
....George W. Bush, Jr.
"If we don't succeed, we run the risk of failure."
....George W. Bush, Jr.

"Republicans understand the importance of bondage between a mother and
child."
....Governor George W. Bush, Jr.
"Welcome to Mrs. Bush, and my fellow astronauts."
....Governor George W. Bush, Jr.

"Mars is essentially in the same orbit...Mars is somewhat the same
distance from the Sun, which is very important.
We have seen pictures where there are canals, we believe, and water. If
there is water, that means there is oxygen.
If oxygen, that means we can breathe."
....Governor George W. Bush, Jr., 8/11/94
"The Holocaust was an obscene period in our nation's history. I mean in
this century's history.  But we all lived in this century. I didn't live
in this century."
....Governor George W. Bush, Jr., 9/15/95
"I believe we are on an irreversible trend toward more freedom and
democracy - but that could change."
....Governor George W. Bush, Jr., 5/22/98
"One word sums up probably the responsibility of any Governor, and that
one word is 'to be prepared'."
....Governor George W. Bush, Jr., 12/6/93
"Verbosity leads to unclear, inarticulate things."
....Governor George W. Bush, Jr., 11/30/96

"I have made good judgments in the past. I have made good judgments in
the future."
....Governor George W. Bush, Jr.
"The future will be better tomorrow."
....Governor George W. Bush, Jr.

"We're going to have the best educated American people in the world."
....Governor George W. Bush, Jr., 9/21/97
"People that are really very weird can get into sensitive positions and
have a tremendous impact on history."
....Governor George W. Bush.
"I stand by all the misstatements that I've made."
....Governor George W. Bush, Jr. to Sam Donaldson, 8/17/93
"We have a firm commitment to NATO, we are a part of NATO. We have a
firm commitment to Europe. We are a part of Europe." ....Governor George
W. Bush, Jr.
"Public speaking is very easy."
....Governor George W. Bush, Jr. to reporters in 10/9
"I am not part of the problem. I am a Republican"
....Governor George W. Bush, Jr.

"A low voter turnout is an indication of fewer people going to the
polls."
....Governor George W. Bush, Jr
"When I have been asked who caused the riots and the killing in LA, my
answer has been direct & simple Who is to blame for the riots? The
rioters are to blame. Who is to blame for the killings? The killers are
to blame."
....George W. Bush, Jr.
"Illegitimacy is something we should talk about in terms of not having
it."
....Governor George W. Bush, Jr., 5/20/96
"We are ready for any unforeseen event that may or may not occur."
....Governor George W. Bush, Jr., 9/22/97
"For NASA, space is still a high priority."
....Governor George W. Bush, Jr., 9/5/93

"Quite frankly, teachers are the only profession that teach our
children."
....Governor George W. Bush, Jr., 9/18/95
"The American people would not want to know of any misquotes that
George Bush may or may not make."
....Governor George W. Bush, Jr.
"We're all capable of mistakes, but I do not care to enlighten you on
the mistakes we may or may not have made."
....Governor George W. Bush, Jr.
"It isn't pollution that's harming the environment. It's the impurities
in our air and water that are doing it."
....Governor George W. Bush, Jr.
"[It's] time for the human race to enter the solar system."
....Governor George W. Bush, Jr.

*************************************************************
This email and any files attached are considered
confidential and intended solely for the use of the
individual or entity to whom this email is addressed.
If you have received this email in error please notify :
         ( itsupport@chubb.com.au )
This footnote also confirms that the above email has been
scanned for the presence of computer viruses.
*************************************************************


Throughout this week, we have a team from UBS in Houston to introduce and discuss the NETCO business and associated HR matters.

In this regard, please make yourself available for a meeting tonight beginning at 6:00 pm at The Houstonian.  For those outside of Houston, video conferencing arrangements have been made.  In Portland, the meeting will be held in Mt Adams.  In Calgary, the meeting will be held in video room #1.

Time:		6:00 pm
Place:		The Houstonian
		111 N Post Oak Lane
		Houston, TX
		(713) 680-2626
Meeting Name:	"Lone Star"

Please keep this invitation confidential.

If you are unable to make this meeting, please advise Amy FitzPatrick (x52729) or Julie Clyatt (x33256).


CIPCO term sheet.
Ben


You will provide Tana and I with the Canadian conversion language for the
Canada public Raptor deals.  Thanks!


i was talking about the total mws, they have 23,775, we have 23,800.  i think
they entered the strips wrong.  can you pls check on that.

thanks

   Kate Symes @ ECT                11/17/2000 02:17 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: 458802

Mike confirmed with Natsource this was a 25MW deal with no broker fee.

Kerri Thompson@ENRON
11/17/2000 07:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 458802

the broker has 23,775 as total mws, and also has a fee of .0075.


-----Original Message-----
From: 	Lebrocq, Wendi
Sent:	Tuesday, September 18, 2001 5:38 PM
To:	Lambert, Karen; Jones, Tana; Schott, Samuel; Reves, Brant; Brackett, Debbie R.; Clark, Cynthia; Enron Europe Global CounterParty,; Sever, Stephanie; Moran, Tom; Clark, Claudia; Bradford, William S.; Lees, Lisa; Fayett, Juana; Morse, Jana; Le, Trang; Maley, Paul; O'day, Karen; Rohauer, Tanya; Lombardi, Kelly; Lindsay, Brian; EOL Call Center; Hare, Bill D.; Heffernan, Amy; Lafuze, Molly; Clark, Danny; Panus, Stephanie; Mandola, Teresa; Ebow, Amber; Arnold, Thu Pham; Coleman, Tandra; Campbell, Lesli; Lebrocq, Wendi; Taylor, Mark E (Legal); Lauer, Kara; Thakkar, Ami; Piotrowski, Joseph; Banner, Kimberly; Mcquade, Jennifer; George, Fraisy; Guillory, Michael; Rajaram, Aparna; Monterrey, Maribel; Curry, Ken
Subject:	EOL and Clickpaper Approvals: 09-18-01

Please see attached.

Regards,

Wendi LeBrocq
3-3835


Thanks for the resume.  I don't see a fit in government affairs, but I am
forwarding to community relations to see if there is any interest there.

	Mark Courtney@ECT
	10/12/2000 10:29 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: govt affairs candidate

Steve,

Ned Higgins fowarded this to me.  Evidently Kara's fiance is former ECT and
has just moved to KMI.  She has responded to the TW job posting, but she
might be a better fit somewhere else.  Thought you might want to look over
the resume.

Mark
---------------------- Forwarded by Mark Courtney/HOU/ECT on 10/12/2000 10:11
AM ---------------------------

Ned Higgins
10/10/2000 02:33 PM
To: Mark Courtney/HOU/ECT@ECT
cc:
Subject: Thanks again

Per our conversation.
---------------------- Forwarded by Ned Higgins/HOU/ECT on 10/10/2000 02:32
PM ---------------------------

Kara Babers - Victory 2000 <KBabers@rnchq.org> on 10/10/2000 12:34:56 PM
To: "'ned.higgins@enron.com'" <ned.higgins@enron.com>
cc:
Subject: Thanks again

 <<Enron jobfinder -- job 0000104202 details.htm>>

Ned --

I so appreciate your taking the time to talk to me today.  Attached is my
resume and cover letter regarding the job posting we discussed.  I look
forward to hearing from you and talking to anyone you know in this group.

All the best,
Kara Babers

 <<Cover letter to Enron.doc>>  <<RESUME.DOC>>

 - Enron jobfinder -- job 0000104202 details.htm
 - Cover letter to Enron.doc
 - RESUME.DOC


This draft has some formatting improvements, but it does not yet incorporate
some of the comments that we made earlier. Heather will make these as soon
as possible and before the public release(e.g. I sent her specific changes
to incorporate Severin's restructuring comments).

Lee

-----Original Message-----
From: Heather Cameron [mailto:hcameron@uclink.berkeley.edu]
Sent: Friday, October 20, 2000 5:31 PM
To: Rob.Gramlich@neg.pge.com; lfried@uclink.berkeley.edu;
borenste@haas.berkeley.edu; shapiro@haas.berkeley.edu;
AMosher@appanet.org; whederman@columbiaenergygroup.com;
jeff.dasovich@enron.com
Subject: Electricity Summit website

Dear Colleagues,

The new draft website is at:
http://gspp.berkeley.edu/events/electricity_summit_conference.htm.
Have a good weekend. Talk to you on Monday.

Best wishes,
Heather


Here's one that's "final," not draft, that just came out.  I'm assuming that
this is the one the press is refering to.  Let me know that you think.
----- Forwarded by Jeff Dasovich/NA/Enron on 10/09/2000 11:43 AM -----

	Sarah Novosel
	10/02/2000 03:47 PM

		 To: James D Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/SFO/EES@EES, Mary Hain/HOU/ECT@ECT, Richard Shapiro/HOU/EES@EES
		 cc:
		 Subject: Final report from the Cal PX on the summer prices

---------------------- Forwarded by Sarah Novosel/Corp/Enron on 10/02/2000
04:40 PM ---------------------------

"Tabors, Richard" <tabors@tca-us.com> on 10/01/2000 08:40:28 AM
To: jhartso@enron.com, snovose@enron.com, dwatkiss@bracepatt.com,
rcarroll@bracepatt.com
cc: "Englander, Scott" <sle@tca-us.com>, "Cardell, Judith"
<jcardell@tca-us.com>

Subject: Final report from the Cal PX on the summer prices

Thought you might find this one particularly interesting.

Richard

 <<Final Summer 2000 Price Report.pdf>>

 - Final Summer 2000 Price Report.pdf


IntercontinentalExchange
                                                                                Firm Power Price Bulletin
                                                                                For Power Delivered on Monday, October   22, 2001
                                                                                (Trade Date of Friday, October   19, 2001)
Click here to access index history .
                                                                                * volume represents sell-side only *

Hub	High	Low	Wtd Avg Index	Change ($)	Vol (Mwh)
Cinergy	         $22.00	         $19.50	         $20.84	-   1.49	          62,400
Comed	         $20.50	         $19.00	         $19.78	-   1.18	           6,400
Entergy	         $21.50	         $20.00	         $20.64	+    .42	          24,000
Nepool	         $38.75	         $38.15	         $38.37	-    .63	           5,600
PJM-West	         $25.85	         $24.90	         $25.31	-    .16	          38,400
SP-15	         $27.75	         $26.75	         $27.23	+   1.12	           5,200
TVA	         $22.00	         $21.00	         $21.46	-   1.04	           7,200

                                                                                Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the trade date specified for financially firm power delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s) specified.
                                                                                IntercontinentalExchange is the world's most liquid trading platform for over-the-counter energy and metals.  Active markets include North American power and natural gas, global crude and refined oil products, and precious metals.  Traded instruments include forwards, swaps, and options.
In order to receive the proprietary information contained in this email, you acknowledge and agree that you shall not further disseminate the IntercontinentalExchange Market Data contained herein to any person or entity without the express written consent of IntercontinentalExchange.    Furthermore, you acknowledge that (1) IntercontinentalExchange has exclusive and valuable property rights in this data; (2) IntercontinentalExchange's data is being made available to you only for your own business or personal activities; and (3) you cannot communicate the data, in any form, to any other person or entity without the express written consent of IntercontinentalExchange.
This data is provided to you free of charge.  IntercontinentalExchange reserves the right to cancel this service at any time for any reason or no reason at all.
You agree that IntercontinentalExchange does not make any representations or warranties, express or implied, with respect to the data.
To become an Exchange Participant or inquire about the indices, please contact sales@intcx.com .
To unsubscribe from this service, click here unsubscribe .
                                                                                ?Copyright IntercontinentalExchange, Inc. 2001, All Rights Reserved.


Dear PIRA Client,

PIRA has created a new slide presentation on the U.S. economy. You can
access this presentation via PIRA Online (www.pira.com) by logging in and
choosing "US Economy" from the new "Macro Data" drop-down menu at the top of
the screen. The table of contents is listed below.

Given the overall importance of U.S. economic trends and their impact on
local and international energy markets, PIRA maintains and analyzes a
database of key economic indicators. This effort supports our ongoing
analyses of energy supply/demand fundamentals and the associated market
forecasts. This slide presentation - which will be updated as new data
become available - is being made available complimentarily to all PIRA
clients to support their own analyses.

Gary N. Ross
Chief Executive Officer
PIRA Energy Group

If you need a user name and password for PIRA Online, or if you need help
logging in, please contact John Graziano at (212) 686-6808, email:
support@pira.com.

ANATOMY OF THE U.S. ECONOMY
SLIDE SHOW OF KEY FACTORS DRIVING U.S. ECONOMIC GROWTH
JUNE 7, 2001

1) Summary
2) U.S. Real GDP Growth
3) U.S. Economy At Glance
4) U.S. GDP Statistics (Billions 1996 $)
5) Consumer Sector
6) S&P 500 Stock Price Performance (As Of April 30, 2001)
7) Retail Sales
8) Service Employment (A Proxy Of Service Spending)
9) U.S. GDP And Employment Growth
10) Consumer Confidence Index
11) Initial Jobless Claims
12) Real Consumer Spending And NASDAQ Stock Prices
13) Household Wealth And Savings Rate
14) Pension Fund Reserves And Savings Rate
15) Asset Holdings Of U.S. Households
16) Financial Situation Of U.S. Households (Quarter-To-Quarter Changes)
17) Business Investment Sector
18) Spending On Computer Equipment: Key Driver Of Recent U.S. Economic
Growth
19) Numbers Point To Weaknesses In Manufacturing
20) Real Durable Goods Orders
21) Big 3 Economies' Interest Rates Lead Industrial Activities By One Year
22) Business Inventory
23) Total Business Inventory/Sales Ratio
24) Housing Sector
25) U.S. Housing Starts
26) Government Sector
27) Export/Import Sector
28) During The 1990s, Both Exports And Imports Grew, But Trade Deficit
Soared
29) Keys To Short-Term Economic Outlook
30) Federal Reserve Policy Changes: Fed Funds Target Rates Since 1996
31) U.S. Money Supply (M2) Growth
32) Treasury Note Yield Curb: No Longer Inverted
33) Non-Farm Business Productivity (Output Per Hour)
34) U.S. GDP Growth And PIRA Barometer For U.S. Economy

 - winmail.dat


I believe Barbara's message is amply clear.

Steve
----- Forwarded by Steve Van Hooser/HOU/ECT on 09/27/2000 05:58 PM -----

	Barbara N Gray
	09/27/2000 05:57 PM

		 To: Steve Van Hooser/HOU/ECT@ECT
		 cc:
		 Subject: Re: Coogler's Response

I don't think Brian, the President of HPL should be having any meetings with
Entex................if someone is to meet with Entex, it needs to be an ENA
person; similarly, we should not be asking for a meeting with Entex.  If
ENTEX wants to schedule a joint meeting,it might be okay to
attend............depending on the subject matter...........ANYTHING HAVING
TO DO WITH PRICING SHOULD NOT BE DISCUSSED...........i BELIEVE MORE FACTS
NEED TO BE MARSHALLED.

	Steve Van Hooser
	09/27/2000 05:06 PM

		 To: Barbara Gray
		 cc:
		 Subject: Re: Coogler's Response

Barbara,
I had a chance to look at this again and I have left a note for Dan (he
wasn't in his office) indicating that if by "I think we should involve MidCon
in the discussions" Brian intends a joint meeting among ENA, MidCon and Entex
to discuss the correction fo nomination irregularities, I think that's an
acceptable proposal.  If, however, Brian intends a private meeting between
MidCon and ENA to discuss our respective contractual obligations to Entex,
then I think Dan needs fo advise Brian of the risks attendant to such a
meeting.

Do you agree?

Steve
----- Forwarded by Steve Van Hooser/HOU/ECT on 09/27/2000 05:00 PM -----

	Dan J Hyvl
	09/26/2000 03:18 PM

		 To: Steve Van Hooser/HOU/ECT@ECT
		 cc:
		 Subject: Re: Coogler's Response

Steve,
 Please see Brian Redmond note to Brenda below regarding meeting with MidCon
to talk about their imbalances with Reliant Energy.  This could possible open
both parties up to a torturous interference argument with Reliant Energy.  Do
you agree?  If so, we need to nix meeting idea.
----- Forwarded by Dan J Hyvl/HOU/ECT on 09/26/2000 03:14 PM -----

	Brian Redmond
	09/26/2000 10:03 AM

		 To: Brenda F Herod/HOU/ECT@ECT
		 cc: James I Ducote/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, Janet H Wallis/HOU/ECT@ECT, Edward D Gottlob/HOU/ECT@ECT,
Steve HPL Schneider/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON
		 Subject: Re: Coogler's Response

Brenda,

Can you send me a copy of Bruce's response.  Also, we need to meet on Entex
this week as you suggest.  In my discussions with Bruce, he feels that Entex
can account for all of their gas nominations/takes - and that these
nominations are not related to intra-month price volatility.

We discussed having an initial meeting next week.  Then, if it makes sense, I
think we should involve MidCon in the discussions as their imbalances seem to
be a key factor in Entex changing their nominations.   These meetings would
be to seek to develop a working protocol that we could use to improve
communication and establish more definitive criteria for changing
nominations.

The end game would be a final meeting with Entex senior management to agree a
solution to past sins and a way forward.

Brian

	Enron North America Corp.

	From:  Brenda F Herod                           09/25/2000 10:53 PM

To: James I Ducote/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, Janet H Wallis/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT,
Edward D Gottlob/HOU/ECT@ECT, Steve HPL Schneider/HOU/ECT@ECT
cc: Yvette G Connevey/Corp/Enron@ENRON
Subject: Re: Coogler's Response

Please read the attached summary of Coogler's response to the audit
findings.  I would like to get the group together later this week to
determine next steps.

Jim, Dan and Janet:  I would appreciate you all paying special attention to
the claims.  Do you all know what Bruce is referring to?  If you all can do
some research before the meeting, I think we'll be able to get to our next
steps quicker.  Thanks.
---------------------- Forwarded by Brenda F Herod/HOU/ECT on 09/25/2000
10:44 PM ---------------------------

richard.j.feldmann@us.arthurandersen.com on 09/18/2000 08:29:49 PM
To: BHerod@Enron.com
cc: danny.d.rudloff@us.arthurandersen.com,
frederick.g.rhodes@us.arthurandersen.com,
matthew.l.thomas@us.arthurandersen.com
Subject: Re: Coogler's Response

Brenda,

Matthew reviewed Coogler's responses and brings up the following questions.

We can do one-of-two things at this point.  We can either add the Reliant
responses to our audit report as "Auditee Responses", or we can have Enron
provide answers and possibly have us do some additional work.  The additional
work is dependent on Enron's answers to the questions.

Please advise.

Rick

To:   Frederick G. Rhodes, Richard J. Feldmann
cc:
Date: 09/18/2000 04:29 PM
From: Matthew L. Thomas, Houston , (713) 237-2629
Subject:  Coogler's Response

Rick and Fred:

I hope things are going well up in Salt Lake City.  I have gone through all of
Bruce's numbers today.  I have come up with a few questions that Enron needs
to
answer.

1. Reliant claims that in East Texas the cut off for complementary customers
is
30 Mcf/ day,  does Enron agree?
2. Reliant claims that the "New Technology Contract" overrides  or is an
exception to the Enfolio Master Agreement.  Does Enron agree that this is a
legitimate exception?
3. Reliant claims that all off the industrial mis-classified gas in the
Houston
Division is under "special contracts" with special pricing, and even though
they
are using less than 100 Mcf /day they receive a lower price of 2.71 per MMBTU.
Does Enron agree that this is a legitimate exception?
4. In the Houston Division it appears that Louisiana Pacific only uses gas for
heating in the winter, about three months out of the year.  Is there total
divided by three to find their average usage, or is it divided by 12?  Bruce
divided by three, we divided by twelve.  They are a customer all year, and are
not a new customer, or a customer that has left.
5. Does Enron want to give Reliant leeway on the 100 Mcf rule?  What will the
actual cut off be?  Bruce backs out 137,000 Mcf that was close, but not quite
100 Mcf.

These are the issues that I see.  The first three questions are things that
Enron may have to ask Bracewell and Patterson.  We were not notified of any of
the special contracts that he mentions.  Let me know what I need to do.  If
you
guys have questions for me, it might be easier if we all got on the phone and
spoke about it.  Thanks,

Matthew

*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If you
are not the addressee indicated in this message (or responsible for delivery
of
the message to such person), you may not copy or deliver this message to
anyone.
In such case, you should destroy this message and kindly notify the sender by
reply email. Please advise immediately if you or your employer do not consent
to
Internet email for messages of this kind.  Opinions, conclusions and other
information in this message that do not relate to the official business of my
firm shall be understood as neither given nor endorsed by it.


-----Original Message-----
From: Lankford, Glenn [mailto:Glenn.Lankford@natoil.com]
Sent: Tuesday, October 16, 2001 3:19 PM
To: Larry Barnhill (E-mail); Jack Boone; Buxton, Dana; Cheatwood,
Brenda; Larry Childs (E-mail); Earsom, Roger; Mike Griffith; Jefferson,
Joy; Jackie Larson (E-mail); Anna Rowland (E-mail); Kevin Strabala
(E-mail); Dan Taylor (E-mail)
Subject: FW: shopping...

Glenn Lankford

-----Original Message-----
From: 	Vlad Railian [mailto:vlad.railian@elstore.com]
Sent:	Tuesday, October 16, 2001 2:59 PM
To:	Railian, Angel; Lankford, Glenn; Mama Mia
Subject:	shopping...

 <<ShopinMEM.mpeg>>

 - ShopinMEM.mpeg


Notification was received today that the launch of the ISO's Inter-SC Trade
with
Adjustment Bids software upgrade would be postponed.  They will NOT launch the
week of October 1st.  The new launch date had not been determined at the time
of
our notification.

In response to this notification the PX will do the following:

Market simulation will continue next week for all of you that wish to
participate

Data freeze will be postponed (new dates will be given when official launch
date has been determined)

Continue daily conference calls to get your feedback on our trade application
enhancement

We will keep you informed of all new developments surrounding the launch of
the
ISO's software.

Have a great weekend!

Thank you.


we would like to meet @ 8 at some Pappasitos (I don't know where you live
exactly) between you and I.

"Jason Bass" <jbass1@houston.rr.com> on 01/08/2001 11:10:29 AM
To: <Eric.Bass@enron.com>
cc:
Subject: Re: My Resume

We will be there.  Name the time and which Pappasitos

----- Original Message -----
From: <Eric.Bass@enron.com>
To: <jbass1@houston.rr.com>
Sent: Monday, January 08, 2001 10:46 AM
Subject: Re: My Resume

(See attached file: JBass Resume.doc)
I made a few changes.  Generally when creating a resume, shorter is better
(preferably fitting on one page).  So most of my changes have been
consolidations.  Also, I tried to make the tenses of all of your bullet
points the same (you want to do this on all resumes and outlines).

As a side note, Shanna and I would like to take you and Donnita to dinner
on Friday at Pappasitos.  Can you make it?

-Eric

"Jason Bass" <jbass1@houston.rr.com> on 01/08/2001 09:10:20 AM

To:   <lwbthemarine@bigplanet.com>
cc:   <Eric.Bass@enron.com>, <daphneco64@bigplanet.com>
Subject:  My Resume

Would you do me a favor and look this over and tell  me things I should
change? Please send it back to this address. You  can make the changes in
the document and send the changed document back.   Thanks.


-----Original Message-----
From: 	"Lutz Reissmann" <sales@arcadeequipmentwarehouse.com>@ENRON [mailto:IMCEANOTES-+22Lutz+20Reissmann+22+20+3Csales+40arcadeequipmentwarehouse+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, May 31, 2001 9:48 PM
To:	Schwieger, Jim
Subject:	Video Games

Hi Jim,

The shipping quote to your door is 269.00/game. There was know price break
on two or more because they had to be but on individual pallets.  Here are
some pictures of what I have available in the classic games. I almost forgot
to tell you.  We have a brand new gauntlet Legends 4 player in a dedicated
Cabinet available for only 2,195.00 this game was 3995 new a year ago.  It
is brand new and never been used.  It's a great buy if you like action
adventures games.  I think your kids will like it.  Also 4 players can play
at the same time.  It a great game with lots of hidden treasures and secret
doors.  We only have two units left and I think the skating rink in League
City, TX is going to get one.  Also would you want us to set them on free
play for you or do you want to use quarters to make them work.  It's your
choice.  It's the last picture title Gauntletebay.jpg

Let me know if you have made any decisions

Thanks,

Lutz

 - 18wheeler.jpg
 - blitz99.jpg
 - daytona.jpg
 - ast-1-rs1.jpg
 - c4-lscrop.jpg
 - dkjc.jpg
 - dkcrop.jpg
 - tempcrop.jpg
 - Gauntletebay.jpg


Don't forget!
Larry Fenstad's party
Today 4:00-7:00
Ninfa's Allen Center


The meeting is in 3321.
 -----Original Message-----
From: 	Sanders, Richard B.
Sent:	Friday, October 26, 2001 11:47 AM
To:	Haedicke, Mark E.; Schuler, Lance (Legal); St. Clair, Carol; Murray, Julia; McCullough, Travis
Subject:

This will confirm that the meetings with Weil for Sat and Sun will begin at 10am. Mark wants the entire team to be present for the Sat meeting. We will decide after that meeting who needs to be present on Sun. I have sent Weil a number of materials, including the 3rd quarter results given to the analysts. We anticipate that Sat will be a lawyers only meeting to discuss the corporate structure and the bankruptcy issues related to the different business units. The meeting will probably last 4-5 hours.

The Sun meeting will include the commercial team. An agenda will be prepared, but most of the day will be devoted to information gathering and brainstorming.


Mark:

One issue to keep in mind regarding membership in this exchange:  if there is
no clearing house and the exchange is the counterparty to all transactions,
who bears the liability when a third party defaults?  We certainly need to
know if it is the exchange membership.  If not, how is the liability limited
and on whose credit would we be relying if we trade?

Mark

Mark Elliott
04/06/99 06:02 AM
To: ECT London European Trading
cc:
Subject: APX - Membership Application

Just to let you know that last Thursday, we submitted, in the name of Enron
Capital & Trade Resources Limited, an application at very short notice to
become one of the first members of the Amsterdam Power Exchange.

The Exchange still has many outstanding issues to resolve re its mode of
operation and I shall keep you informed of progress.  The Exchange is due to
go live, however, at the beginning of May 1999 but our feeling is that there
are so many substantial issues remaining to be resolved that either it shall
not hit this deadline or, if it does, it will be in a very chaotic state.
However please note that initially it is proposed that the Exchange is simply
for day-ahead physical power deals; the Exchange is the counterparty to
transactions and there is no separate clearing house.

It is proposed that at some future stage a financial futures' market will
develop when our SFA-regulated entity will then have to become an Exchange
member - but this is some way off.

Kind regards

Mark


Thank you! I was so baffled for a minute there - when I said "April option"
every trader just looked at me like I was crazy!

Kate

Kerri Thompson@ENRON
03/13/2001 02:53 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: natsource checkout

i just called the backoffice at natsource, the brokers weren't answering.
and apparently it is not a good deal.  so don't worry about it.  thanks.

   Kate Symes @ ECT                03/13/2001 04:41 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: natsource checkout

Natsource is going to have to give you a trader name on this because I've
asked all of them and nobody recognizes it.

Kate

Kerri Thompson@ENRON
03/13/2001 02:29 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource checkout

missing deal
trader?

call
buying tractebel
april
pv
250.00 strike
9.00 prem
25 mw


Sylvia:

Shortly Samantha Boyd will email to you two documents:  Enron North America
Corp.'s final form of guaranty with most of your requested changes (the "ENA
Guaranty") and a comparison of your guaranty markup against the ENA
Guaranty.  I am hopeful that this will be satisfactory for purposes of the
deal at hand.  Let me know if you have any questions or comments.  Thanks.
Sara

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 01/29/2001 04:07 PM -----

	Kaye Ellis
	01/29/2001 03:20 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Sylvia at Con Edison

Sylvia called with her email address:

dooleys@coned.com

She said she has a document Samantha Boyd faxed to her Fri. night that has
minor changes.

K


Check out the latest version of Enron Business Online at home.enron.com.
Click on Publications, then on Enron Business and "Volume 5, 2000".  This
issue, read about what Ken and Jeff could have worn for Halloween costumes!

Also in this issue:

? Enron Broadband Services chips away obstacles;
? DealBench and the art of the paperless deal;
? Global risk managers structure risk even insurers can like;
? Diversity and what you think;
? Enron rescues a giant panda; and
? The Rise School leads lessons in compassion and ABCs.


---------------------- Forwarded by Susan D Trevino/HOU/ECT on 03/17/2000
03:08 PM ---------------------------

Bob Withers <rww@KCSEnergy.com> on 03/17/2000 03:10:24 PM
To: Susan D Trevino/HOU/ECT@ECT
cc: Stretch Brennan <djb@KCSEnergy.com>, Knox Westmoreland
<rkw@KCSEnergy.com>, Kevin McLarney <kmm@KCSEnergy.com>, Vance L
Taylor/HOU/ECT@ECT
Subject: 1st rev Mar. 2000 Josey Ranch nom

Here's REVISED March 2000 (effective 3/18/00 ) setup for Josey: (using 1.075
Btu/Mcf)
* Gas deliveries into HPL
    11,000 MMBtu/d  for KRI           (net
reduction of    <1,500> MMBtu/d)
     11,000 MMBtu/d into HPL

Bob Withers <*))>><
KCS Energy, 5555 San Felipe, Suite 1200
Houston, TX  77056
voice mail/page 713-964-9434


This is a friendly little reminder to please complete the survey as soon as
you can .....  the deadline is set for tomorrow.    I want to thank those of
you who have completed it so far.   Below is the link.  Thanks!  Martha

http://www.zoomerang.com/survey.zgi?CSPXMBPET01DHC6G36KHWJEP


I gave a copy of this document to Wes Colwell immediately following last
week's meeting with a note that he needed to respond to you.  He is the most
appropriate respondent from ENA.  --Sally

Melissa Becker@ENRON
05/02/2000 03:49 PM
To: ENRON APOLLO AND BEYOND FINANCIAL COUNCIL
cc: Enron Apollo and Beyond Financial Council Admins
Subject: SAP workshops-action requested

At the Financial Council meeting last Thursday, we distributed a write-up
entitled "Workshops".  In it we discussed the work performed to date, the
results, and three options for proceeding.

Could you please take a look at the document (it's a very quick read), call
me if you need more information, and then "vote" for which option you would
prefer?  I would appreciate your response by this Friday.  if you don't vote,
then you will get what the majority votes for.  If there is significant
division in the votes, we can discuss a "tailored" approach at the next
Financial Council meeting.

We are trying to do what YOU want; we just need you to tell us which approach
you prefer.  Thanks!


Start Date: 12/29/01; HourAhead hour: 23;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122923.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.


Unsubscribe at  bottom[IMAGE]
 [IMAGE]  [IMAGE]       Click  here to download RealArcade.    [IMAGE] [IMAGE]  Experience  the Internet's first personal game arcade!    [IMAGE]     Discover  the best games in every category and genre    [IMAGE]     Acquire  games easily and reliably    [IMAGE]       Play  games with greater ease and knowledge  [IMAGE]       Click  here to download RealArcade.
 remove  me                    privacy  policy       You are receiving this e-mail because you  downloaded RealPlayer(R) or RealJukebox(R) from Real.com(TM) and indicated  a preference to receive product news, updates, and special offers from  RealNetworks(R). If you do not wish to receive e-mails from us in the  future, click on the "remove me" link above.    RealPlayer(R), RealJukebox(R), Real.com(TM),  RealArcade(TM) and RealNetworks(R) are trademarks or registered trademarks  of RealNetworks, Inc. All other companies or products listed herein  are trademarks or registered trademarks of their respective owners.


All the counterparties below can trade physical, and only the two I've marked
below in red can trade financial.

	Camille Gerard@ENRON
	11/17/2000 09:29 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Noel Petterson/Corp/Enron@Enron, Frank L Davis/HOU/ECT@ECT
		 Subject: ClickPaper approvals (advance notice)

Tana,

The counterparties below are about to be approved in Credit. It would be
great to get your Legal response before you leave for
vacation.  We can then minimize approvals that go through Mark Taylor next
week.

Thanks,
Camille
---------------------- Forwarded by Camille Gerard/Corp/Enron on 11/17/2000
09:22 AM ---------------------------

Walter Guidroz
11/16/2000 05:21 PM
To: Camille Gerard/Corp/Enron@ENRON, Noel Petterson/Corp/Enron@Enron
cc:

Subject: ClickPaper approvals (advance notice)

I'm waiting on Tom to review my credit recommendations for the counterparties
below.  Once he approves these, I'll send them to you.  Thanks!

ABC Salvage Corporation
Blue Heron Paper Company
Central National-Gottesman, Inc.
Clifford Paper Inc.
Clorox Services Company
Eagle Mountain Mills Ltd.
J-Mar Paper Sales
Linden Trading Company, Inc.-can trade financial
Perry H. Koplik & Sons, Inc.
Potlatch Corporation
Premier paper
Priority Pallet, Inc.
Ris Paper Co., Inc.
R.R. Donnelley & Sons Company-can trade financial
Sierra Pine A California Limited Partnership
The Ogden Newspapers, Inc.
The Princeton Packet, Inc.


713 303 5973