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Charles Schwab & Co., Inc.
Email Alert

Morning Market View(TM)
for Thursday, December 27, 2001
as of 9:30AM EST
Information provided by Schwab Center for Investment Research

MARKETS LOOK TO OPEN SLIGHTLY HIGHER

U.S. equity index futures are pointing to a slightly higher open
as economic and equity news is sparse this morning. Apple
Computer (AAPL,22,f1) said its retail outlets may report a loss
in 2002 and TMP Worldwide (TMPW,42,f1) stated it would not boost
its offer for Hotjobs.com (HOTJ,10.67,f1). U.S. Treasuries are
flat and world markets are higher.

TMP Worldwide, provider of the popular Monster.com web site,
reported that it would not increase its bid for competitor
Hotjobs.com, saying it had offered "full and fair value" for the
entity. Hotjobs announced on Monday that it would accept a $436
million offer from rival bidder Yahoo! (YHOO,17.51,f1) if TMP
did not increase its proposal, which has shrunk since June given
declines in TMP's stock. If the acquisition fails, TMP is
entitled to as much as $17 million in termination and
reimbursement fees from Hotjobs and the company would remain the
No. 1 online recruitment site.

Apple Computer said it now expects its retail stores to incur a
loss in 2002, contrary to forecasts made last May predicting
retail profitability for the year ending in fiscal 2002. Apple
blamed the setback on the economic recession in the U.S. and the
slowdown in the PC market, exacerbated by the terrorist attacks.
The California-based computer maker opened 27 retail stores this
year, two more than originally planned.

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

TREASURY AND ECONOMIC SUMMARY

U.S. Treasury prices are little changed across the curve ahead
of today's record $23 billion 2-year note auction. Friday's
economic plate is full as initial jobless claims, originally
scheduled for release this morning, will be released tomorrow.
In addition, consumer confidence figures, the Chicago Purchasing
Managers' Index, new and existing home sales, and durable goods
orders will be reported.

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

WORLD MARKETS

European markets are marginally higher with the Bloomberg
European 500 index up 0.8% as of 8:53 a.m. EST, led by bank,
telecom and energy shares. In economic news, French business
confidence rose to 90.0 in December, higher than the 89.5
estimate per Bloomberg and November's 89.0 reading. On the
corporate front, Nestle SA (NSRGY,52,f1) paid $641 million to
General Mills (GIS,52,f2) in a joint venture giving it the
rights to Haagen-Dazs in the U.S. and Canada. Oil-related issues
also did well as companies like Royal Dutch Petroleum NV
(RD,49,f2) rose on expectations that OPEC will announce its 1.5
million barrel per day production cut on Friday. The euro is
trading higher versus the U.S. dollar.

Asian markets finished higher as the Nikkei 225 index advanced
2.6% with technology and export issues leading the way. In
economic news, the Ministry of Economy, Trade and Industry
reported that Japanese industrial production declined a
seasonally adjusted 1.8% in November to the lowest level in 14
years. Prime Minister Junichiro Koizumi reiterated plans to cut
spending and force banks to write of bad debt, saying, "... we
must press on with employment measures and structural reforms."
Following the positive retail news in the U.S. yesterday,
exporters fared well with companies like Sony Corp. (SNE,44)
advancing. The yen fell versus the U.S. dollar given the weak
economic data.

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

FUTURES WATCH

In the March Globex futures contract as of 8:51 a.m. EST, the
S&P 500 index was up a point (3 points above fair value) while
the Nasdaq 100 index was 1 point higher (5 points above fair
value). The March DJIA futures contract was down 7 points (25
points above fair value), and the February crude oil futures
traded on the NYMEX were down $0.68 at $20.59/barrel.

Jeffrey Reeve, Market Analyst

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Thanks for sending me the 2000 Incoterms.  Our library was finally able to
locate our copy of the 1990 Incoterms and I have reviewed them.

To answer your question, I don't think the Incoterms will have much of an
effect on our analysis except with respect to the definition of DDP (delivery
duty paid).  Section 1.14 of the Contract states that DDP shall have the
meaning as defined in Incoterms 1990 (except as the parties otherwise
specifically provide herein).  As best I can tell, Section 1.14 is the only
provision of the Contract that mentions the Incoterms.

The introduction of the Incoterms (paragraph 22) states that "merchants
wishing to use these rules should now specify that their contracts will be
governed by Incoterms 1990"   At a minimum, this suggests that the Incoterms
are not automatically incorporated into a given contract.  Rather, the
parties should specify in their contracts whether the Incoterms will apply.
In this case, the only reference I can find to Incoterms in the Contract
(unless I am missing something) is Section 1.14 which simply incorporates the
definition of DDP.

Additionally, I believe that the Incoterms DDP provision is good for Enron.
Under the 1990 Incoterms, DDP "means that the seller fulfills his obligation
to deliver when the goods have been made available at the named place in the
country of importation.  The seller has to bear the risks and costs,
including duties, taxes and other charges of delivering the goods thereto,
cleared for importation.  While the EXW term represents the minimum
obligation for the seller, DDP represents the maximum obligation.  The
Incoterms go on to say that the seller has to place the goods at the disposal
of the buyer at the agreed point at the named pace of destination.  The
seller must bear all risks of loss of or damage to goods until such time as
they have been delivered (i.e., the goods have been placed at the disposal of
buyer).

Westinghouse will have to argue that the CT-Unit was placed at the disposal
of Enron.  This will be difficult since they informed us of the damage before
we ever looked at the CT-Unit.  Further, Westinghouse's argument sounds more
like they rely on Incoterm DES rather then DDP.  Incoterm DES (Delivered Ex
Ship) means that the seller fulfills his obligation to deliver when the goods
have been made available to the buyer on board the ship uncleared for import
at the named port of destination.  I have not seen any reference in the
contract to Incoterm DES yet that is what it sounds like Westinghouse is
arguing.

In short, I think our contract argument as reflected in the memo provides a
sound basis for our contentions and the Incoterms should not be factored in
other than as referenced in the contract itself.

If you would like a more detailed analysis of this issue in memo form please
let me know.

TFAH


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In addition, we can add language that says we are specifically not prohibited
from.......  and list what we care about.

Kay


----- Forwarded by Tana Jones/HOU/ECT on 04/10/2001 09:10 AM -----

	Mark Greenberg@ENRON
	04/09/2001 07:43 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Letter of Intent with S&P

Tana -

Please let me know if we have an NDA with S&P and/or Citibank.

Thanks.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com
----- Forwarded by Mark Greenberg/NA/Enron on 04/09/2001 07:41 PM -----

	Craig Chaney@ECT
	04/09/2001 10:56 AM

		 To: Mark Greenberg/NA/Enron@ENRON
		 cc:
		 Subject: Letter of Intent with S&P

Mark,
Please review the attached letter of intent for S&P and Citibank.  The only
intended binding aspects of the letter is the confidentiality agreement
portion.  I would like to be able to sign it by Thursday.

Please give me a call if you have any questions.

Thanks,
Craig Chaney
Enron Credit


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The following wires have been received and the coding is needed so that the cash can be applied:

Company	Date		Amount		Wire To			From

0413		10/01/01	$3,207,024.00		Noref Ins			Louisiana Pacific

0530		10/05/01	$491,477.58		Enron Cap Mgmt LTD		ECM LP

0413		10/09/01	$57,940.62		ENA				Advanced Mobile Power

0530		10/12/01	$1,000,000.00		Reversal DK Utl

0530		10/12/01	$2,250,000.00		Bond Desk			Bank of Montreal

0413		10/15/01	$2,119,537.00		ENA				E-Next Generation - Jody Pierce

0530		10/17/01	$61,612.50		Reversal Legal Title Ins

If you know the coding for these wires, please send it to me.

Thanks.

Jerry


----- Forwarded by Jeff Dasovich/NA/Enron on 11/30/2000 01:19 PM -----

	Alan Comnes@ECT
	11/29/2000 04:47 PM

		 To: Jeff Dasovich/NA/Enron@Enron, theizenrader@enron.com, Stephen
Swain/PDX/ECT@ECT
		 cc:
		 Subject: Chandley Harvey Hogan

Jeff,

THIS is the new Harvey Hogan paper (now a Chandley Harvey Hogan paper).  It
was attached to SDG&E's comments.

Tim H., Steve:

This is another view of the market from another set of heavy hitters.

All:

 "Launch" it rather than "view" it.

Alan
---------------------- Forwarded by Alan Comnes/PDX/ECT on 11/29/2000 04:37
PM ---------------------------

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---------------------- Forwarded by Mark L Schrab/HOU/ECT on 11/20/2000 03:10
PM ---------------------------

Billyoung3@aol.com on 11/20/2000 01:23:38 PM
To: mschrab@enron.com
cc:
Subject: Fwd: Nomination Revision for VR 375 wells

Mark - I will call you to figure this out. Meanwhile, I think Marilyn
Gullette can give you better information to catch us up on noms. Her number
is 337-272-7403.
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From: "Marilyn Gullette" <mgullette@petroquest.com>
To: "Bill Young \(E-mail\)" <Billyoung3@aol.com>,        "Tom Jones
\(E-mail\)" <tjones@spinexp.com>
Cc: "Alfred Thomas, III"@linux1.globalreach.net
Subject: Nomination Revision for VR 375 wells
Date: Mon, 20 Nov 2000 11:40:26 -0600
Message-ID: <001601c05318$fa3b88a0$2c01a8c0@marilyn2>
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Importance: Normal

This is to request that Spinnaker's nomination for the VR 375 well(s) be
lowered from the current nom of 11,728 mmbtu to 7443 mmbtu, effective start
of day on 11/21/00.

The reduction is necessary as a result of the SI of the well on Friday,
11/17/00, through the current time, Monday, 11/20/00, combined with shut-ins
that occurred on 11/13 and 11/14.

This nomination volume is based on an assumed rate of 12,700 through the end
of the month.

Thank you for your prompt attention to this request.

Marilyn Gullette
337/272-7403


The contact name is Jack Wells, and his phone number is (281) 293-6030. Would
you like me to enter this info into the deals?

Kate

Kimberly Hundl@ENRON
01/29/2001 08:23 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: conoco deals #506549.01, 506550.01, 506551.01

hi kate,
these sean crandall deals need contacts.  can you please get a good contact
name (and phone #) and i will put in a gcp request to have it added to the
drop down list in deal entry.
i'm too lazy to press the shift key lately, sorry -no caps.
thanks for your help!
kim


Please decrease deliveries to Eastrans to 0 MMBtu/dy for 8/8/00

The redeliveries will be 0 as well.

 The over-delivery quantity for the Fuels Cotton Valley gas will be valued per
paragraph 3 of the Contract Price section in the Transaction Agreement.


Kevin & Tim:

Last week I spoke to Janet about the probable departure of Sean Holmes from EES Deal Management to EES Europe.  Janet discussed several alternatives for Deal Management and asked for my suggestions.  My suggestion is as follows:

Berney Aucoin would assume oversight of all Retail Power Structurning and Deal Management activities.  Initially, keep Deal Management separate under Deb Merrill's direction and Structuring under Edith's direction.  DSM, LC, DG would probably need to fall under Berney as well.  I would anticipate that the functional separation that currently exists between Deal Managment and Structuring would begin to go away over the next 3 - 6 months as we intersperse our more experienced people and everyone in general gets up the curve.  Thus, I would expect that we could merge Deal Managemnt and Strcuturing into one group in the near future.

I spoke to Berney and he thinks this makes sense and is up for the job.  Edith is still planning to move into a commercial Origination role at year end but I believe we could have a replacement by then.

Janet and the EES group have definitely bought into this idea - I think they would like to implement.  Janet would expect dual reporting of the Group (to EES and EWS) and I indicated that, if implemented, I did not see a problem and as far as I was concerned nothing would change - Berney reiterated this directly.

I apoloigize if you are reading this feeling as though I have taken the liberty to suggest material changes without getting full buy-in, but 1) things aren't done and 2) I wanted to suggest something that I felt made sense before some alternative plan was proposed and in execution mode.

Please let me know what you think and whether you feel Lavo would have any problems.

Thanks,
Rogers


Sherri

I likely will be arriving late, so probably should pass.  Pls pass along my
thanks, though.

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


Thanlks for this.  I'm forwarding it to the others in the group who are
working on this project.  We're meeting on Wednesday to discuss the GTCs
we'll use for physical products transactions.

In our world, we use the same approach used in the financial trading world.
so that silence is deemed acceptance.  That doesn't work under English law,
by the way, where silence does NOT mean acceptance.  I still don't understand
how we're going to deal w/ a counterparty that deals w/ us in London and
wants to sit in London but trade off hte U.S. screens.  Apart from tax
concerns, how do we structure those agreements?  This draft  ETA uses the
concept of "group undertakings", which I've not heard before, but does that
solve or create a problem in the scenario I describe?

	From:  Mark - ECT Legal Taylor                           07/26/99 05:24 PM

To: Janice Moore/HOU/ECT@ECT
cc:
Subject: Revised documentation

I think this is the most recent version of the ETA.  Obviously, this is the
UK version and Sullivan & Cromwell are turning it into a US document.  The US
version will be governed by NY law and contain an arbitration clause.  We're
also trying to figure out how much to say about the confirmation process
since it may vary from product to product and will almost certainly be
different from the UK version.  Speaking of which, I was surprised to find
that they have the telephone conversation (and in this case the web site
records) control over a confirmation which has been signed by both parties.
What's the practice in your part of the world?  One alternative is to insert
the language (or something like it) that we use in financial trading which
says that we will send a written confirm, gives the counterparty a short time
(2 or 3 days) to respond and indicates that silence will be deemed
acceptance.  Would that work for your deals?

Anyway, I'm in NY today and tomorrow, back in the office on Wed.  Louise is
insistent that the GTC's be available to be uploaded this weekend.  I'll be
calling in periodically tomorrow and will try to get you since I'm sure you
will have issues to discuss - and now is the right time to get changes made
to the ETA if necessary.
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
07/26/99 05:04 PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Tracey.Hayward@cliffordchance.com                           07/20/99
11:21 AM

To: Mark - ECT Legal Taylor/HOU/ECT
cc:
Subject: Revised documentation

FROM:  Andrew Wilkinson

Dear Mark

Further to my various emails on Friday 16 July 1999, please find attached a
copy of the UK ETA which shows the amendments from the drafts I sent to you
on Friday.  All of these changes have been inserted into all Electronic
Trading Agreements for each of the primary jurisdictions.  These changes
have been made following my conference call with Scott Sefton, Justin Boyd,
Louise Kitchen and others yesterday afternoon.

I also attach a revised draft of the UK Gas Physical Beach GTC and the
Zeebrugge Gas Physical GTC marked up to show the changes to the versions
sent to you last Friday.

I would be grateful for any comments on these documents as well as those
sent to you on Friday.

Kind regards.

Andrew Wilkinson
 <<UKETA.rtf>>  <<UKNPB.rtf>>
 <<7tgzRED.DOC>>

 - UKETA.rtf
 - UKNPB.rtf
 - 7tgzRED.DOC


Thanks very much, John.  When this is complete, I'd like to send to the
larger distribution list.  In fact, if you concur, I'd like to send this
around to the rest of the group right now.  Let me know.


- kudlow060701.doc


I also wanted to pass on to you the estimated costs that were used:

Below are the rough cost estimates to apply drag reducing agent to the LaPlata to Bloomfield line.

	Facility modifications			$1,665,000

	Cleaning & application			   $165,000

	Re-application every 6 months		   $165,000

The facility modifications include a launcher at LaPlata, receiver at Bloomfield and a filter separator at the El Paso Blanco delivery.  The cleaning & application and re-applications costs include cleaning pig runs with methanol and surfactant as well costs for the actual DRA application.

For analyzing sensitivities, all costs are +/- 30%.

The re-application time period is also uncertain.  The probable window would be to re-apply as often as every three months and as infrequently as every 12 months.

John


Yes.  Although probably more useful (if we have a smoking gun) in the Legislative arena.  DOE has no authority over TVA.

Jim

 -----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Tuesday, October 23, 2001 1:22 PM
To:	Steffes, James D.; Hueter, Barbara A.; Shelk, John
Cc:	Shapiro, Richard; Robertson, Linda; Migden, Janine
Subject:	TVA

Ben Jacoby told me that the state of Tenn. (through an Energy Policy Committee) has implemented a moratorium on the state reviewing air permits and siting on new IPPs.  Apparently TVA is exempt from the moratorium.  He heard that TVA has been telling the govenor's office that all the new IPPs coming on line in Tenn. are putting TVA's transmission resource at jeopardy.  If this is being said, it is incorrect because, per TVA's "procedures", TVA conducts an interconnection study before connection, so TVA actually approves the interconnection, plus TVA would not let the IPP purchase transmission (or would cut its transmission).

Enron's proposed plant in Tenn. already has the air permit, so Ben is not as concerned about Enron's plants.  However, this type of behavior could show that TVA may be simply keeping IPPs off its system (even though presumably they would pay it revenue -- same problems that we continue to have with VIUs).  Could this be helpful in messaging somehow to DOE, etc. that TVA should be in an RTO?


Hi James

My understanding of Louise's request was that several sports news pages would
be posted with sports scores being updated on the website during the week for
intra week events.  Please clarify.

Will the content provider provide info about European and Asian sports?  Do
we need to involve Justin/Edmund to get the European legal perspective or
does the content deal cover this already?

You will have seen the sports which held the most interest for the traders
here - can you let us know whether the content provider has sufficient info
to enable us to post score data.

Regards

Amita

James Bruce   25/04/2000 19:19

To: Arfan Aziz/LON/ECT@ECT
cc: David Forster/HOU/ECT@ECT, Rahil Jafry/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Julie Ferrara/HOU/ECT@ECT, Amita Gosalia/LON/ECT@ECT,
Anna Gardiner/LON/ECT@ECT

Subject: Re: Sports News on the web page

Dear Arfan

Thanks for all your effort.

We're working on a content deal that will give us as much sports news as we
want.  Until we can launch this second phase of EnronOnline, we'll have to
rely on other third party content for general news items (as in Europe).  As
best I understand it, this occasional news will be placed on the site at our
discretion--Julie Ferrara will be responsible for publishing North American
content, and I'm responsible for European content.  So if there's something
on that everyone's talking about (Football?), then we could publish a news
item, if we'd like.

As for the legal issue, I spoke with Mark Taylor (lawyer for Enron North
America) over a month ago, and he (correct me if I'm wrong, Mark!) seemed to
differentiate between 'public domain' content and 'proprietary' content, the
difference between the two being whether or not you could possibly get the
information from any other source.  I think sports scores is usually in the
'public domain' category.

So let's keep up the good work, and if you want to prepare a possible
football related news item, let's move towards publishing it (always going
through the normal channels, of course).

Thanks Arfan

Jay

   Enron London - EOL Product Control Group                25/04/2000 11:38

Sent by: Arfan Aziz
To: James Bruce/LON/ECT@ECT
cc: Anna Gardiner/LON/ECT@ECT, Enron London - EOL Product Control
Group/LON/ECT@ECT

Subject: Sports News on the web page

James

Whilst Anna is in Singapore I will be looking at the Sports ticker ideas.

Anna has discovered a web page called www.sports.com which has all the
information that we could possible require in any European country.

The website in general:

coverage of European football, cricket, golf, tennis, rugby, formula 1, rally
plus US Sports links
launched web site in other languages - french, german, italian and spanish
won the  "Best of the Web" in the sports category in Forbes Magazine's
special "Best of the Web" edition
website was launched August 1999
reporters are on site for major events
site is used by other leading internet information providers

Contact on all Press Releases is Anthony Khan at Sports.com: 0181 233 5660

	About SportsLine.com, Inc.
	SportsLine.com, Inc. is at the leading edge of media companies providing
Internet sports content, community and e-commerce on a global basis.
SportsLine.com, Inc.'s content includes more than one million pages of
multimedia sports information, entertainment and merchandise. Founded in 1994
as SportsLine USA, Inc., the Company changed its name to SportsLine.com, Inc.
in November 1999. Its flagship Internet sports service
(http://cbs.sportsline.com) was renamed CBS SportsLine in March of 1997 as
part of an exclusive promotional and content agreement with CBS.
SportsLine.com, Inc. produces the official league Web sites for Major League
Baseball, the PGA TOUR and NFL Europe League, and serves as the primary
sports content provider for America Online, Netscape and Excite. In May 1999,
the Company commenced operations in Europe through its majority-owned
subsidiary, Sports.com Limited.
	About Sports.com Ltd
	Sports.com (http://www.sports.com) is the leading Internet-based provider of
European sports content, community and commerce. With the most comprehensive
European coverage in English of football, rugby, Formula One, cricket, tennis
and golf as well as all sports in local languages in France, Germany, Italy
and Spain, Sports.com is the most visited European sports site. Sports.com is
the official Internet media partner of Manchester United (www.manutd.com) and
is the primary sports content provider for Netscape Online UK, The Financial
Times' FT.com, and France Telecom's Voila and Wanadoo.

Please let me know your thoughts or any ideas that you may have had re the
sports ticker items on the web page.

I also intend to speak to Justin Boyd re the legal issues of using
information from another web site (which is copyrighted)

Thanks

Arfan


Matt doesn't have any trade like this for 1/8. I spoke with Judy at EES, and
she's going to have Jubran call Matt to duke it out over whether or not this
is a good trade. I'll let you know what those guys decide.

Thanks,
Kate

Stephanie Piwetz   01/11/2001 11:07 AM

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

Subject: Re: Powerez Deal from 1/8/01

Mid Columbia.

   Kate Symes                01/11/2001 12:47 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Powerez Deal from 1/8/01

What's the delivery point on those deals?

Stephanie Piwetz   01/11/2001 10:48 AM

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

Subject: Powerez Deal from 1/8/01

Kate,
Pwx called this mroning to verbal a deal that  was sleeved with EES.  I do
not see it in system, although I see the deal on EES spreadsheet that I
receive daily.
the deal is Enron Buys Pwx   Q4 2001 25mws   255.00  done direct  trade date
1/8/01  Matt Motley trader
then Enron Sell EES  Q4 2001  25mws   $255.05

Should this be in the system and if so do you have deal numbers on the
above.  I believe we sleeved the deal for EES and Pwx.
Contact at EES, Judy (backoffice 7138535490)  Jubran Whalen is EES trader.

Thanks


Attached are EOL credit approvals.  Please call with any questions; thanks.


> Memo To: All Employees
> Subject: New Policies
>
> Sick Days:
>
> We will no longer accept a doctor's statement as
> proof of sickness. If you
> are able to go to the doctor, you are able to come
> to work.
>
> Surgery:
>
> Operations are now banned. As long as you are an
> employee here, you need all
> your organs. You should not consider removing
> anything. We hired you intact.
> To have something removed constitutes a breach of
> employment.
>
> Bereavement Leave:
>
> This is no excuse for missing work. There is nothing
> you can do for dead
> friends, relatives, or co-workers. Every effort
> should be made to have
> non-employees attend to the arrangements. In rare
> cases, where employee
> involvement is necessary, the funeral should be
> scheduled in the late
> afternoon. We will be glad to allow you to work
> through your lunch hour and
> subsequently leave 1 hour early, provided your share
> of the work is enough
> to keep the job going in your absence.
>
> Your Own Death:
>
> This will be accepted as an approved excuse.
> However, we do require at least
> 2 weeks advance notice, as it is your duty to train
> your replacement.
>
> Rest Room Use:
>
> Entirely too much time is being spent in the
> restrooms. Therefore, in the
> future all employees will follow the practice of
> going in alphabetical
> order. For instance, those whose names begin with
> 'A' will go from 8:00 to
> 8:10, employees whose names begin with 'B' will go
> from 8:10 to 8:20, and so
> on. If you're unable to go at your time,
> it will be necessary to wait until the next day when
> your time comes again.
> In extreme emergencies, employees may swap their
> time with another
> co-worker. However, both employee supervisors must
> approve this exchange in
> writing. In addition, there is now a strict 3 minute
> time limit in the
> stalls. At the end of 3 minutes, an alarm will
> sound,
> the toilet paper roll will retract, and the stall
> door will
> open.
>
> Paycheck Guide:
>
> The following guide has been prepared to help our
> employees better
> understand their paychecks.
>
> Example: Gross pay $1,222.02
>
> Income tax 244.40
> Outcome tax 45.21
> State tax 11.61
> Interstate tax 61.10
> County tax 6.11
> City tax 12.22
> Rural tax 4.44
> Back tax 1.11
> Front tax 1.16
> Side tax 1.61
> Up tax 2.22
> Tic-tacs 1.98
> Thumbtacks 3.93
> Carpet tacks .98
> Stadium tax .69
> Flat tax 8.32
> Surtax 3.46
> Corporate tax 2.60
> Parking fee 5.00
> FICA 81.88
> TGIF fund 9.95
> Life insurance 5.85
> Health insurance 16.23
> Dental insurance 4.50
> Mental insurance 4.33
> Reassurance .11
> Disability 2.50
> Ability .25
> Liability 3.41
> Unreliability 10.99
> Coffee 6.85
> Coffee cups 66.51
> Floor rental 6.85
> Chair rental .32
> Desk rental 4.32
> Union dues 5.85
> Union don'ts 3.77
> Cash advance .69
> Cash retreats 121.35
> Overtime 1.26
> Undertime 54.83
> Eastern time 9.00
> Central time 8.00
> Mountain time 7.00
> Pacific time 6.00
> Oxygen 10.02
> Water 16.54
> Heat 51.42
> Cool air 26.83
> Hot air 20.00
> Miscellaneous 113.29
> Various 8.01
>
>
> Net Pay $0.12
>
> Thank you for your loyalty to our company. We are
> here to provide a positive
> employment experience.
>
> All questions, comments, concerns, complaints,
> frustrations, irritations,
> aggravations, insinuations, allegations,
> accusations, comtemplations,
> consternations, or input should be directed
> elsewhere. Have a nice week.
>
>
>

__________________________________________________
Do You Yahoo!?
Yahoo! Calendar - Get organized for the holidays!
http://calendar.yahoo.com/


This Information Applies ONLY to Organizations Supported by Houston-based Accounts Payable Processing Centers

Earlier this week I was pleased to announce that Enron's new procurement and payment tool, iBuyit eProcurement, is now live for those who previously requested IT hardware from IT Central.  But there is still more to come! On May 1st the iBuyit Payables system will be activated for all organizations supported by Houston-based Accounts Payable processing centers.  The new iBuyit Payables system will increase the efficiency of the accounts payable process by capturing invoices as scanned images at a central point of receipt and routing them electronically for coding, payment authorization, and issue resolution.

In preparation for this transition, there are some simple changes to the way you currently order and pay for goods and services.  Following these changes will ensure that your invoice is correctly processed through the iBuyit Payables system.

Effective immediately, provide vendors with the following information when placing an order and instruct them to reference this information:
*  Company Number or Legal Entity Name
*  Contact Name
*  Personal External Identification Number (EID) or Approved Purchase Order Number
*  New P.O. Box  (See Below)

What is an EID?
An EID is your External Identification Number (EID). This EID number identifies the purchaser and helps route non-purchase order invoices back to the purchaser electronically through iBuyit.

Do I need to use an EID for non-purchase orders?
Yes.  When ordering goods and services with a non-purchase order, the purchaser should provide the vendor with the appropriate EID.  It is your responsibility to communicate to vendors that an EID is now required for non-purchase orders.

Do I need to use an EID for purchase orders?
No.  When ordering goods and services with an approved purchase order, you should provide the vendor with a purchase order number as you currently do.

What if I do not know my EID?
All Enron employees are assigned an EID number. If you purchase goods and services on behalf of Enron, you need to know your personal EID number.  You can access your EID number in eHRonline.  Logon to eHRonline, choose "Personal Information" to pull up your personal profile.  On the left side of the "Personal Information" screen select "Other" and you will see your:
*  PID (SAP ID)
*  GIS ID
*  EID

What is our new mailing address (PO Box)?
Effective immediately, instruct the vendor to mail the invoices to the following address:
PO Box 4734
Houston, TX  77210-4734

What do I do if an invoice comes directly to me?
HOUSTON LOCATIONS ONLY
If an invoice comes directly to you, mark the envelope "Attention Enron Accounts Payable," and place the envelope in an AP drop box at any Enron mail center.

FIELD LOCATIONS ONLY
If Houston currently processes your invoices, and an invoice comes directly to you, they will continue to be processed by the Accounts Payable department in Houston.  Please send invoices to the new PO Box above or the following physical address:
3724 Dacoma
Houston, TX  77092
ATTENTION ENRON ACCOUNTS PAYABLE

Note:  ETS Field locations will continue to process non-purchase order invoices locally.

How will vendors learn about these changes?
This information will be shared directly with vendors in a separate communication.

Questions?  Send an e-mail to <mailto:ibuyit@enron.com>

<Embedded Picture (Metafile)>


Attached is an updated status report regarding ENA Litigation.


There are Unresolved/Open items in the vendor payables system (iPayIt) and employee reimbursement system (XMS).  Employees are strongly encouraged to resolve items in their inboxes.  Please either process and approve, or reject these outstanding business expenses in your inboxes by 2:00 p.m. Monday, December 3, 2001.

For assistance with XMS please contact:
Enron Travel Management
(713) 345-6252, enron travel@enron.com <mailto:travel@enron.com>.

For assistance with iPayIt please contact:
Integrated Solutions Center
(713) 345-4727, iPayit@enron.com <mailto:iPayit@enron.com>


I have let this slip since our last conversation.  I agree we do need to get this fixed.  I will get back on it today.

Paul


---------------------- Forwarded by Steven J Kean/NA/Enron on 09/01/2000
07:55 AM ---------------------------

Mona L Petrochko@EES
08/29/2000 04:38 PM
To: Douglas Condon/SFO/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, James M
Wood/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, Greg Cordell, Roger Yang,
Edward Hamb/HOU/EES@EES, Peggy Mahoney/HOU/EES@EES, Karen Denne@Enron, Mark
Palmer/Corp/Enron@ENRON
cc: James D Steffes/HOU/EES@EES, West GA, Richard Shapiro/HOU/EES@EES, Steven
J Kean/NA/Enron@Enron, Mary Hain@Enron

Subject: Senate passes Alper/Davis Bill 30-0

AB 265 passed through the Senate a few minutes ago.  It now must go to the
Assembly, where there is still a lot of uncertainty about what changes the
Assembly will want to the bill.  We still haven't seen the latest
"republican" language.

Also, AB 265 is double joined to AB 970, controversial siting bill.  To the
extent one or the other fails, they both fail.

AB 265 (Davis/Alpert) has:

1.  a 6.5 cent/kWh energy rate cap through 2002, with potential extension
through 2003.
2.  Applicable to residential, small commercial (up to 100 kW)
3.  Opt-in provision for large industrial/agricultural customers at 6.5 cents
with an annual true-up
4.  Use of revenues from utility generation assets (including PPA) to offset
undercollections.
5.  Reasonableness review for San Diego G&E

Will update with more information as available.

No news about SCE.


I would like to attend.

Thanks,
Mary Fischer

 -----Original Message-----
From: 	Moody, Bobbie   On Behalf Of Hermann, Robert
Sent:	Monday, October 22, 2001 9:38 AM
To:	Tax Houston
Cc:	Causey, Richard; Becker, Melissa; Westbrook, Sharron
Subject:	FLOOR MEETING

At the Global Accounting Leadership Conference a few weeks ago, Rick Causey conducted a "group conversation" in which he discussed several topics that he knew would be of interest to the group and fielded questions from the group on a variety of topics.  All of this was done in a very informal setting, with a free flow of information between Rick and the participants.  The attendees agreed this was a very good forum for communication.

I would like to give the entire Tax department the same opportunity.  Rick has scheduled October 30th from 2:00 - 3:00 p.m. in EB1701.  Since space is limited, please reserve a spot by contacting Bobbie Moody via email only.  If more people sign up than the room will comfortably hold, we will schedule an additional meeting(s).  (You will receive a confirmation or a notice that you will be given another opportunity to attend a future meeting.)  Preference will be given to those who did not attend the Global Accounting Leadership Conference, which means that few of the Senior Directors or above will be at the meeting if there is a sizeable response.

In addition, while Rick will be happy to take questions at the discussion, feel free to submit questions in advance to Bobbie, to Melissa Becker (VP Human Capital Management for Global Accounting), or directly to Rick.  Questions directed to Melissa or Bobbie will be compiled and sent without names to Rick.  Alternatively, you may deliver your questions in an envelope to Bobbie (EB1747), Melissa (EB1769) or Rick (EB5023).  All topics are fair game.

Bob Hermann


There will NOT be a SWAP Group Meeting tomorrow, Wed, 8/29.    Please correct
your calendars to reflect The SWAP Group meeting is scheduled for the 1st and
3rd Wed. of each month--not every other Wed., as I had previously stated.  I
apologize for any inconvenience this may have caused.

Taffy


Makes sense to me.  Good luck.  Let me know if you need anything.

Jim

 -----Original Message-----
From: 	Lawner, Leslie
Sent:	Tuesday, August 07, 2001 5:01 PM
To:	Cantrell, Rebecca W.; Fulton, Donna; Steffes, James D.
Cc:	Novosel, Sarah; Nicolay, Christi L.; Hartsoe, Joe
Subject:	meeting with FERC on MA rule

Becky and I were talking earlier about the meeting Donna is setting up with FERC on the MA rule.   I think we should also use the occasion to talk about the reporting requirements for the CA gas market, and how they don't work.  Any feelings on this?


here's the deal on the arm:

just got bk from france late mon night- had
lots of fun, race was ok, but looooong.  triped on harry potter's cape and
had to go in ambulance to emergency room to get x-rays on my arm at the
finish line.  quel surpris- sustain injury to my arm while running a
marathon.

as for tomorrow...talked to Em this morning and she's on her way to NB to meet with the tile people.  said she'd be back either late tonight or early tomorrow morning.  as for tomorrow night, she's waiting to see about grandparents, etc. but may be able to meet if it's early....she's supposed to give me a call later so i'll let her know about the colina's thing

sue

-----Original Message-----
From: Gillette, Lisa
Sent: Tuesday, September 18, 2001 10:54 AM
To: Scott, Susan M.
Subject: RE: wed.

do you think em would want to do dinner with everyone? i can definitely make an excuse if not considering we dont know half the people going. if you speak to her let her know about the following and let me know what she would like to do.

-----Original Message-----
From: Laura Black [mailto:lblack@hire-works.com]
Sent: Tuesday, September 18, 2001 9:48 AM
To: Gillette, Lisa
Subject: wed.

hey lis-
i talked to ashley and we have a few people gathered for tomorrow night.  i
think we are meeting at colinas at 6pm.  i think it is maybe in rice
village??  i am going and ashley and susan and stephanie and maybe shelley
and i think 1 or 2 of their old college station friends.  let me know if
that sounds ok with you.  i think that is the name of the restaurant.  ash
picked a place that is less expensive b/c after all these weddings we are
all a bit broke!!  so- let me know- see you later-
laura

Laura Black
Corporate Recruiter
Intrahire
T: 832.590.3650
F: 832.590.3699
www.smithweb.com


In Staff's report on its investigation of the bulk power markets in the east,
the Midwest report notes on page 2-15, Additions to Capacity, that new
generation has been added in the Midwest region, and that some market
participants believe that developers sited new generation in the Midwest
because there were no price caps.

Steve Kean suggested that we refer to this finding in our November 20
comments on the California order and specifically draw the conclusion that no
price caps leads to more generation development.

The Midwest report is attached.  Please let me know if you have any questions.

Sarah


Sam asked me to put together some points on the ISO, PX and the FERC Order.
They are attached.  If you have comments, let us know asap.  Thanks.

(See attached file: Sam Wehn Points.doc)

 - Sam Wehn Points.doc


Greetings All:

First, I am apologizing in advance for any typos in this email.  Schedule is
very tight, but I wanted to make sure that everyone had it first thing this
morning, with some back-up info that I've included below.

Attached is the email that was sent to Ken Lay's office yesterday evening for
delivery to Sen. Brulte.  It's of course confidential.  Few points:

I don't have Bev's email, so if you could please forward to her, that would
be appreciated.
As we discussed (Jim, Mike, Bev, Scott, Hedy) on our lengthy call on
Wednesday, I'm assuming that the plan is still to "wallpaper" Sacramento with
our proposed legislation.
This email does not contain the legislation.  Mike sent the "final" versions
of our legislation out yesterday, except for the siting piece, which I
believe Brian Cragg of Mike's office is finalizing today.
You'll note that we promise Senator Brulte in the email that we'll deliver to
his office today the proposed legislation.  Again, based on our call on
Wednesday, I'm assuming that we would simultaneously release the proposed
legislation to the rest of the world at the same time.
When we spoke on Wednesday, we decided that the Sacramento team would
determine to whom we would circulate the proposed legislation at the same
time that we deliver the Senator Brulte. I'm assuming that you folks will
handle that end of things.  Please let us know at your convenience to whom
you've decided to circulate.
This email does, however, include a "summary" of our proposed legislation.
But I'm not certain that the summary included in this email is the
appropriate language to distribute "to the world," or if we'll need instead
to tailor some new language.  I think we all agreed that we need a "one
pager" to accompany the legislative package so that we can communicate the
package effectively.
We also discussed the need to quickly develop a coalition to support our
proposals.  We didn't finalize that plan.  Perhaps the Sacramento team could
propose a plan to do that.  Perhaps we could start with our friends in the
Direct Access coalition?
We also talked about the need at this point to engage in PR and to get the PR
machinery activated, also with the goal of effectively communicating our
legislative package/message.  We're in a meeting with folks today where we
can discuss getting that side of things going and Karen Denne has contacted
Marathon and they're pondering some things that we can do in the near term.
You'll note that there's a considerable amount of information about the DWR
credit issue.  As I recollect, we discussed the issue in depth on the call.
You note that attached to the email is a "legislative fix" to AB1X that could
solve the credit issue and an attached set of "taking points" related to a
second alternative to solving the credit issue:  a PUC order clarifying that
DWR will get its money for power purchase costs.
Note also that Steve Kean reminded me that we've got to continue to push to
get the utilities out of the merchant function.  Accordingly, I've put a
brief paragraph on that issue in the note to Brulte in the last section
(legislative solution) under the topic "create a real competitive retail
market in California."  To the best of my knowledge, we don't have
legislative language on that piece yet, and it seems that we'll need to
discuss it in considerably more depth before doing so.

If you have any questions about any of the materials in the email, please
don't hesitate to contact me or Jim or Sandi to discuss.  I can be best
reached to day by pager at 888.916.7184.

Thanks to all for helping pull this together.

Best,
Jeff

----- Forwarded by Jeff Dasovich/NA/Enron on 02/16/2001 08:27 AM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	02/15/2001 06:11 PM

		 To: jdasovic@enron.com, skean@enron.com, Richard Shapiro/NA/Enron@Enron,
James D Steffes/NA/Enron@Enron
		 cc:
		 Subject:

Steve:
Here's a substantially more cleaned-version, with attachments.  There's a
hard copy on your chair.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/15/2001 05:57 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	02/15/2001 05:56 PM

		 To: jdasovic@enron.com
		 cc:
		 Subject:

Jim:
It was a pleasure speaking with you yesterday.  Based on our conversation,
this email includes the following:

An Enron contact to discuss developing small-scale generation on Tribal lands.

Our views on the impediments to distributed generation and suggestions on how
to remove those impediments.

A description of the credit issues that continue to impede DWR,s ability to
sign contracts with power suppliers, and options to resolve them. Two
possible options for addressing the credit issue are 1) a California PUC
order clarifying that DWR will recover its power purchase costs through
rates, and 2) an amendment to AB1X designed to accomplish the same goal.  I
have attached talking points regarding the California PUC order and proposed
amendments to AB1X.  We believe that an amendment to AB1X is the preferable
option.

Our assessment of the supply/demand picture in California.

Our suggestions for a legislative package designed to solve both the near-
and long-term electricity crisis in California.  We will deliver to your
office tomorrow detailed legislative language.  In those materials we will
also identify existing bills that we believe can easily accommodate our
proposed language.

I hope that the information is useful.  Please do not hesitate to contact me
if you would like to discuss these materials further, or if there is anything
else that I can do to assist you.

Regards,
Ken

Contact Information to Discuss Interest Expressed by Native American Tribes
in Installing Small-scale Generation on Tribal Lands

David Parquet, Vice-President
Enron North America
101 California Street, Suite 1950
San Francisco, CA 94111
Phone: 415.782.7820
Fax: 415.782.7851

2. Key Barriers to Distributed Generation

Excessive and Unnecessary Utility Stand-by Charges

Solution: The executive orders issued by the Governor on February 14th took a
step in the right direction.  Utility stand-by charges have always been
designed by the utilities to protect their monopoly position, extract
monopoly prices from customers, or both.  But there is no reason to limit the
elimination of these charges to generation facilities that are less than
1MW.  These limits will only lengthen unnecessarily the time it takes for
California to close the significant gap between supply and demand and reduce
the risk of black outs this summer.  We would propose lifting the cap by
offering amendments to SB27X, which is designed to facilitate development of
distributed generation.

Excessive delays and costs related to interconnecting facilities with
investor-owned and municipal utilities

Solution:   The Governor,s executive order regarding interconnection is a
step in the right direction*D-D-26-01 requires utilities to complete
interconnection studies within 7 days.  California should ensure that this
requirement applies to all generation facilities, including distributed
generation.  In addition, the financial conflicts the utilities face when
interconnecting generation facilities are simply too powerful to overcome
through executive orders or other regulations.  To the greatest extent
possible, California should shift control over interconnection away from the
utility and place that control with the California ISO.  This could be
accomplished through amendments to SB 27X.

Permitting and Air Quality Issues
Developers of distributed (i.e., &on-site8) generation that is 50 MWs or
greater must receive certification from the California Energy Commission and
therefore face all of the impediments to development that large-scale
generation faces.

Solution: California should ensure that the executive orders (D-22-01 thru
D-26-01) issued by the Governor to expedite plant siting and maximize plant
output apply equally to smaller scale, &distributed generation8 facilities.
In addition, distributed generation that is less than 50 MWs continues to
face local opposition.  The State should ensure that local, parochial
interests cannot block otherwise beneficial distributed generation projects.
These objectives could be accomplished through amendments to SB27X.

3. Credit Concerns Regarding Authority Granted to DWR in AB1X to Purchase
Electricity on Behalf of the Utilities

Enron responded to the RFP issued by DWR to enter into power contracts with
suppliers.
Enron is in active discussions with DWR to establish contract terms with the
goal of entering into a power purchase agreement as soon as possible.
However, ambiguities contained in AB1X have created significant credit risk
concerns that need to be resolved in order to finalize contract terms.
We understand that the lion,s share of counterparties share Enron,s credit
risk concerns.
Enron has proposed several options for resolving the credit risk issues and
is working with DWR to arrive at a solution that is mutually agreeable to
both sides and that might serve as a template for power purchase agreements
going forward.

Summary of the Source of the Credit Risk Issue

Ambiguous Ratemaking Authority
The language in AB1X is ambiguous as to whether DWR has any authority to
charge California ratepayers for the costs of purchasing power.  From our
analysis of the bill, the language in AB1X appears to leave intact the
California PUC,s exclusive jurisdiction over ratemaking in California.  As
such, suppliers have no assurance that the PUC will agree to include in rates
adequate charges to cover DWR,s costs of power purchases.

Ambiguous Regulatory Authority Regarding Contract &Prudence8
The language in AB1X leaves open the possibility that the California Public
Utilities Commission could determine that power purchases made by DWR are
&imprudent.8  On the basis of such a finding, the CPUC could then refuse to
allow DWR to collect from ratepayers the costs associated with its power
purchases.  Consequently, suppliers have no assurance that the PUC will agree
to include in rates the charges to cover the costs of power contracts that
DWR has entered into with suppliers.

Ambiguous Language Regarding the Ratemaking Mechanism that Will Be Used to
Recover DWR,s Costs of Power Purchases
In addition to the ambiguity regarding ratemaking and regulatory authority
noted above, the language in the bill is equally ambiguous with respect to
the specific ratemaking &mechanics8 that AB1X directs the PUC to employ to
permit DWR to recover its power purchase costs. Based on our analysis, it is
extremely difficult to determine how the PUC would design the rates to ensure
DWR recovers its power purchase costs.  Moreover, as currently drafted, it is
difficult to determine whether AB1X would even permit the PUC to include in
rates all of the charges necessary to fully recover DWR,s power purchase
costs.  Again, this ambiguity raises significant credit risk concerns since
suppliers have little assurance that DWR will have the ability to recover
from ratepayers the costs of purchasing power.

Options to Resolve Concerns Regarding Credit Risk

We have been working diligently with DWR officials to resolve the credit risk
issues.  We have identified three options:

Amend AB1X
The amendments, which are attached to this email, would clarify that a) the
PUC would accept as &prudent and reasonable8 all purchase costs incurred by
DWR, and b) the PUC is obligated to include in rates the charges necessary to
ensure that DWR fully recovers its costs of power purchases.  This is the
preferred option, though we understand that the there may be some political
challenges standing in the way of amending AB1X.  (See attached file
entitled, &AmendAB1X.doc8.)

Clarify the Ambiguities in AB1X through an Order Issued by the PUC, and
through Contract Language
This is the option that we are currently working with DWR officials to
implement.  However, it is more complicated and could take significantly more
time to implement than the "legislative" fix.  We have attached electronic
copies of the talking points related to the order that the California PUC
would need to issue under this option.  (See attached file entitled,
&cpuctalkingpoints.doc.8)

Make Use of Other Instruments Designed to Address Credit Risk
As indicated in our letter responding to DWR,s RFP, we are willing to accept
other forms of credit from DWR.  Those options include a letter of credit,
cash prepayment, or an acceptable form of collateral.  DWR officials have
indicated to us that DWR prefers to pursue the second options. That is, DWR
prefers to clarify the ambiguities in AB1X through a PUC order and through
contract amendments.

4. California,s Supply-demand Picture Heading into Summer 2001

Both the California Energy Commission and Cambridge Energy Research
Associates (CERA), a private sector energy think tank, have issued reports
showing that California faces a severe supply-demand imbalance.  They differ
only on how much and how soon additional supply will be made available.  All
credible sources agree that supply will be very tight throughout the Summer
of 2001 and that unless a solution is found immediately, blackouts are
likely.

CEC and CERA both forecast that California will be short of supply this
summer by approximately 5,000 MW.   These numbers are in line with our
estimates.  California,s supply base currently has a 6% capacity margin, well
below the average 15-20%, which is recommended for reliable system operation
in the West.  Since the West relies more heavily upon hydroelectric power
than other regions, reserves are particularly important, owing to the
unpredictability of the weather and the dry year the West has experienced to
date. In the event of a low rain and snow period, the system must possess the
flexibility to respond to the reduced availability of power supply.
California,s very low reserve margin makes it especially susceptible to this
requirement.

Other reasons for reduced supply for the Summer of 2001 include the early
draw-down of reservoirs in the continual effort to manage California's severe
supply-demand gap; emissions restrictions on existing plants; and a reduced
number of customers who can be curtailed under their contracts with the
utilities.  Cambridge Energy Research Associates asserts that at the current
pace of siting, permitting and construction, adequate supplies will not be
added to correct the market imbalance until 2003 at the earliest.

CERA predicts that California is likely to face approximately 20 hours of
rolling black outs this summer.  The CEC paints a considerably more
optimistic scenario, betting that California will bring an additional 5,000
MWs on line to meet peaking summer demand.  It is our view that California
should view the CEC's "rosy scenario" with considerable skepticism.

5. Suggested Package of Legislative Proposals Designed to Solve California,s
Electricity Crisis

This email offers an overview of our proposed legislative solution.  We will
deliver to your office tomorrow specific legislative language and existing
bills that we believe can accommodate our proposals.

As we have suggested throughout the crisis, any solution to California's
crisis must focus on four issues:

Increase supply
Decrease demand
Establish a truly competitive retail electricity market
Return California,s Investor-owned utilities to solvency

Increase supply--Legislative vehicle: SB28X (Sher)
To site and construct a power plant in Texas takes approximately 2 years.
Enron and others have completed the entire process in other states in less
than a year.  In California, it takes about six years, or longer.

The Governor,s executive orders and Senator Sher,s siting reform legislation
are steps in the right direction.  Our suggested amendments can improve those
efforts by further addressing the difficulties that project developers face
in securing air emission reduction credits to meet the air permit
requirements included in the CEC's certification requirements.  Enron,s
proposal seeks to streamline the process for 1) obtaining credits and 2)
transfering credits between air districts.  In addition, it creates an
innovative emissions reduction bank to allow project sponsors to fund
emissions in advance of obtaining certification, and permits the affected air
districts to use those funds to finance projects that will produce the
required reductions in pollution emissions.

Decrease demand*Legislative Vehicle:   AB31X (Wright)
Because of the delay in getting a solution in place in California, closing
the supply-demand gap through energy conservation and efficiency offers the
best chance of avoiding blackouts this summer.  This can be accomplished most
effectively and quickly in two ways:

Buy-down demand
California is tapping into an enormous amount of money from the General Fund
to finance DWR,s power purchases.  California could likely reduce demand more
economically by running an auction to determine the payments businesses would
be willing to receive to reduce their demand for a sustained period (e.g.,
through the summer months).  DWR could easily run an on-line auction to
determine the price it could pay for these demand reductions.  To
participate, businesses would be required to have the metering equipment
necessary to monitor and verify that they are actually achieving the
reductions.  Enron has developed an on-line auction software package, &Deal
Bench,8 that it would be willing to contribute to the effort.

Use Price Signals to Incent Voluntary Curtailment
To be successful, customers need access to the following key elements:

An internet based hour-ahead price posting system to track the market price
for hour-ahead power in real time.
Real-time metering systems for baseline demand and voluntarily curtailment
verification.
Settlement process that allows for market clearing prices of energy to be
paid for load reduction (&Negawatts8).

The potential benefits of an effective demand response program would include:

&creation8 of additional summer peaking capacity in California, particularly
in the short term, without requiring construction of additional generation
resources.
reduction of  peak or super-peak load on the over-stressed California
electric system, thus potentially reducing the overall cost of electricity in
the state.
fostering of demand elasticity without subjecting customers to the full risk
of hourly market price volatility by passing market price signals to
customers and allowing them to voluntarily shed load and be compensated for
responding.

We estimate that we could generate a summer 2001 on-peak demand response in
excess of 400 MW during certain high cost hours, and a demand response for
summer 2002 on-peak hours that could exceed 1000 MW.  We further estimate
that the market response to this program from all ESPs could be 2 to 3 times
that amount.  We recommend that the State of California provide rebates
directly to customers to fund the installation of advanced metering and
control systems that would support load curtailment implementation.

Establish a truly competitive retail electricity market*Legislative vehicle:
SB27X
The only customers who were protected from price volatility in San Diego were
customers who chose Direct Access and signed fixed price deals with energy
service providers.  Ironically, AB1X takes that important option away from
customers and businesses.  It is critical that AB1X be amended to remove the
prohibition against Direct Access.

Enron's legislative proposal would give customers freedom to enter into a
direct access transaction, while simultaneously addressing the Department of
Water Resources' concerns about stranded power costs that might result from
customer migration.

In addition, California will only achieve a competitive retail market when
the utility is removed completely from the procurement function.  Procurement
is not a utility core competency, as evidenced by the dire financial
condition in which the utilities now find themselves.  California should
therefore begin immediately to phase the utility out of the procurement
function entirely, with the goal of having all customers served by a
non-utility provider within 36 months.  To execute the transition, California
should hold a series of competitive solicitations over the 36-month period in
which competing service providers would bid for the right to serve segments
of utility load.

Return California,s Investor-owned utilities to solvency*Legislative vehicle:
AB18X
Utility bankruptcy will not increase supply and it will not decrease demand.
In short, bankruptcy does nothing to solve California,s supply-demand
imbalance.  In addition, bankruptcy increases the likelihood that consumers
and businesses will bear the significant financial risks of having California
State government assume the role of &electricity buyer8 for an extended
period of time.  Finally, bankruptcy will undermine both investor confidence
in California's energy markets and the private sector's willingness to
participate in that market.

California can return the utilities to financial solvency by implementing a
series of staged rate increases.  California should design those rate
increases with the dual goal of returning the utilities to solvency without
&shocking8 the economy or household budgets For example, California could
amortize the recovery of the utilities, past debt over a 5-10 year period.
In addition, the magnitude of the rate increase can be reduced in two ways:
First, the utilities could absorb some portion of their existing debt in
recognition of the risk they accepted when they agreed to the structure of AB
1890.  Second, California can &net8 the revenues the utilities have received
from selling electricity into the Power Exchange against the debts they have
accrued due to the retail price cap.


Start Date: 4/13/01; HourAhead hour: 4;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041304.txt


AGENT VA/VA BOOKING REF
Y72LTR

                                          SANDERS/RICHARD B

  ENRON
  1400 SMITH
  HOUSTON TX 77002
  ATTN TWANDA SWEET

  DATE:  JUN 05 2001

SERVICE               DATE  FROM           TO             DEPART
ARRIVE

UNITED AIRLINES       07JUN LOS ANGELES CA PORTLAND OR    1221P   245P
UA 2606    B          THU   INTL           INTERNATIONAL
           NON SMOKING      TERMINAL 7
                                                          NON STOP
                            RESERVATION CONFIRMED         2:24 DURATION
                  AIRCRAFT: BOEING 737-500

HOTEL                 07JUN MARRIOTT PORTLAND DOWNTOWN
                      08JUN 1401 SW NAITO PARKWAY
                            PORTLAND, OR 97201
                            UNITED STATES OF AMERICA
                            TELEPHONE: 1-503 2267600
                            FAX: 1-503 2211789
                            CONFIRMATION: 81339083
                            REFERENCE: ENRB00
                            SINGLE ROOM
                            RATE: ENR USD 109.00 PER NIGHT
                            GUARANTEE GIVEN

CONTINENTAL AIRLINES  08JUN PORTLAND OR    HOUSTON TX     615A    1225P
CO 621     Y          FRI   INTERNATIONAL  G.BUSH INTERCO
                                           TERMINAL C
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         4:10 DURATION
                  AIRCRAFT: BOEING 737-300

RESERVATION NUMBER(S)  CO/VSWX2D  UA/NZHKCQ

***********************************************
HIS IS A TICKETLESS RESERVATION. PLEASE HAVE A
PICTURE ID AVAILABLE AT THE AIRPORT. THANK YOU
***********************************************
                  THANK YOU FOR CALLING VITOL TRAVEL

__________________________________________________
Do You Yahoo!?
Get personalized email addresses from Yahoo! Mail - only $35
a year!  http://personal.mail.yahoo.com/


Beth,

Thursday, Feb 17,  9-10 a.m.  works for me.
My secretary's phone number is 3-5290. Her name is
Shirley Crenshaw.

Vince Kaminski


----- Forwarded by Jeff Dasovich/NA/Enron on 04/04/2001 11:06 AM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	04/03/2001 07:22 PM

		 To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'"
<andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'"
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'"
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "Dean. Nistetter (E-mail)"
<Dean.Nistetter@dynegy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>,
"'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'"
<smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>,
"'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Larrea (E-mail)'"
<john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent
Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Lynn Lednicky
(E-mail)'" <lale@dynegy.com>, "Marie Moretti (E-mail 2)"
<mmoretti@mccabeandcompany.net>, "'Marty Wilson (E-mail)'"
<mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell
(E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "Tom
Williams (E-mail)" <tcwillia@duke-energy.com>, "'Alex Sugaoka (E-mail)'"
<alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'"
<william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>,
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Duane Nelsen (E-mail)'"
<dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>,
"'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'"
<eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'"
<frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<frazier_blaylock@ogden-energy.com>, "'Hap Boyd (E-mail)'"
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.com>, "'Jonathan Weisgall (E-mail)'"
<jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>,
"'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'"
<khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'"
<kfickett@usgen.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)"
<rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>,
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>,
<trusso@mcnallytemple.com>, <sadlersa@earthlink.net>, <mstultz@epsa.org>,
<rtemple@mcnallytemple.com>, <tracy.fairchild@edelman.com>,
<megan.beiser@edelman.com>, <deborah.fiorito@dynegy.com>, <lchurch@epsa.org>,
Katie Kaplan <kaplan@iepa.com>, <tcwillia@duke-energy.com>,
<rwhyde@duke-energy.com>
		 cc:
		 Subject: IEP Key Messages

Below are key messages we recommend IEP begin using in light of recent
"price gouging/market manipulation" allegations - including the upcoming
State Senate hearings.
Thanks,
Jean

--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)

IEP KEY MESSAGES

Generators have been operating under the rules California established for its
electricity market.  We did not create the market, nor did we write the
rules.  In fact, the "big five" generators did not come to California until
AB 1890 invited them into the state, where they?ve since invested billions of
dollars buying, building and modernizing power plants.

. Energy companies, independent financial analysts and IEP warned that the
PUC was failing to implement AB 1890 properly, and that the market was being
set up to fail, especially the residential market.
. Last summer, generators were urging and offering long-term contacts. They
were flatly rejected.  Had they been adopted, the crisis could have been
prevented or its severity dramatically lessened.
. This crisis was caused by three things . the failure to enter into
long-term contracts, forcing an over-reliance on the spot market; a supply
shortage, and no retail market.  The market can be fixed.  It should not be
abandoned.

We?re an important part of the solution.

. We?ve made extraordinary efforts to keep our plants running during this
crisis to supply California homes and businesses with electricity.
. We?ve offered solutions and been cooperative partners in legislative and
regulatory efforts to end the crisis. . Rather than using tax money, we?re
investing billions of private-sector dollars to buy, modernize and build new
power plants in California . to generate electricity for California.
. Our new and upgraded power plants will help improve California?s air
quality and generate power more efficiently.

We?re hopeful that these hearing focus on facts, fairness and accountability.

. "Witch hunts," "scape-goating" and sensational headlines won?t solve the
problem or end the crisis.


The report named: West VaR and Off-Peak Position Report By Trader <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=27&report_name=West+VaR+and+Off-Peak+Position+Report+By+Trader&category_cd=6&category_name=WEST&toc_hide=1&sTV1=6&TV1Exp=Y&current_efct_date=10/24/2001>, published as of 10/24/2001 is now available for viewing on the website.

(Revision: 3)


Thanks Tracy. Based on conversations I just had with Chris Foster it looks like they want to take the money and put it in a sch C. To cut a long story short, they are worried that they will lose part or all of this money because the FERC and California may be revising the PX index. I have indicated that this can not be done until John Lavorato signs off on this. Stacey, do you see any fall out from doing this. It looks like they want to take care of this in the next couple of days.

John

-----Original Message-----
From: Greene, Tracy
Sent: Friday, October 19, 2001 11:03 AM
To: Postlethwaite, John
Subject: RE: West Deals

John,

I'm afraid I don't have a whole lot of detail.   These deals originally came through on the March Flash to Actual report as a West DPR adjustment.   I was then told by Stacey that these deals needed to be moved off DPR adjusment, but I'm not sure where they were to be moved to.   You will see these listed as a "?" on the LTD report at the top of the page.  I know during the meeting, Stacey was talking to Portland about these, but the only notes that I see on my hard copy is "wait 60 days on PX"..."annuity 4 sale back to them".

Sorry I'm not much more help than that.

Let me know if you have any questions.

Thanks
Tracy

-----Original Message-----
From: Postlethwaite, John
Sent: Friday, October 19, 2001 11:24 AM
To: Greene, Tracy
Subject: FW: West Deals

Can you give me some background info on these deals below.

John
-----Original Message-----
From: Postlethwaite, John
Sent: Monday, October 15, 2001 8:51 AM
To: Confer, Mark; O'Neil, Murray P.
Subject: FW: West Deals

Can both of you give me some background on the 4 annuity deals listed below. Mark, these deals have never shown up on a desk analysis report and were entered on Mar 30 for jan business. Are they supposed to? Murray, are we supposed to be taking these annuities as PMA adjustments or are we still waiting for something more information?

Thanks for your help on this.

John

503-464-7756
-----Original Message-----
From: White, Stacey W.
Sent: Wednesday, October 10, 2001 2:57 PM
To: Postlethwaite, John
Subject: FW: West Deals

Can you check into this?

-----Original Message-----
From: Greene, Tracy
Sent: Tue 10/9/2001 1:44 PM
To: White, Stacey W.
Cc:
Subject: West Deals

Stacey

Do you remember what was going to happen to these deals with the cap of 150.00? Will they be clearing anytime soon?

Thanks
Tracy

Mar-01	 ?	  	 AC	  	 Jan-01	 ATLANTICRICH	 566307.1 - Annuity entered to reflect CALPX Settlement of Index (Cap - $150.00) - per Murray O'Neill	  	  	  	 (1,383,042)
Mar-01	 ?	  	 AC	  	 Jan-01	 DELANOENECOM	 566310.1 - Annuity entered to reflect CALPX Settlement of Index (Cap - $150.00) - per Murray O'Neill	  	  	  	 (1,885,594)
Mar-01	 ?	  	 AC	  	 Jan-01	 TOSCORFNGCO	 566313.1 - Annuity entered to reflect CALPX Settlement of Index (Cap - $150.00) - per Murray O'Neill	  	  	  	 (1,539,749)
Feb-01	 FO	  	  	  	  	  	 Canada accrual entries ?	  	  	 0 	0
Jan-01	 FO	  	  	  	  	  	 Nymex liquidations - no settlements - need support for Valarie	  	 (156,552)
Mar-01	 ?	  	 AC	  	 Jan-01	 WHEELABRMAR	 566337.1 - Annuity entered to reflect CALPX Settlement of Index (Cap - $150.00) - per Murray O'Neill	  	  	  	 (709,905)
Tracy Greene
Enron North America
713-853-0583


As things begin to calm down somewhat after events of last week, we wanted to update all employees of certain organizational and personnel changes that have occurred recently.

Organizational Matters
The Creditors' Committee was formed last week by the United States Trustee.  This committee is comprised of 15 individuals representing various creditor groups including: banks, bondholders, insurance companies and employees.  The Creditors' Committee will be the key point of contact as we reorganize the company and emerge from Chapter 11.  Initially, they will send financial advisors to our offices to monitor any asset liquidations as well as review our cash flow projections.  Ultimately, they will be responsible for approving our reorganization plan as to which assets or businesses we sell and which ones we retain.

From an Enron perspective, the plans for reorganization have already begun.  Overhead has been reduced dramatically, certain employee retention programs have been put in place and a wider retention program is currently being developed.  We hope to share the wider retention program with you in the very near future.  Furthermore, detail cash flow projections are in their final stages of preparation and will be reviewed by senior management this week.  This will be the critical first step in formulating our reorganization strategy to emerge from Chapter 11 as a healthy company.

By now, you must have heard of "NETCO." This company was formed as a means to maximize the value of Enron's most valuable business, the wholesale energy business.  Certain Enron North America employees have been assigned to NETCO to re-build the North American gas and power business under different ownership.  We will be filing with the bankruptcy court this week proposed auction procedures to allow bidders to bid for NETCO.  It is our expectation that Enron would retain a 49 percent (or perhaps less) non-controlling interest in NETCO.  The NETCO employees would become employees of the winning bidder.  We anticipate this process to reach closure sometime in January.

As for the remaining businesses of Enron, they are all under review as to which ones will be proposed for sale and which ones will be proposed for retention.  This review process will take time as it will require approval of the Creditors' Committee.  We will update you periodically on our process.

Personnel Matters
As a result of our current situation, we have made many personnel changes over the past several months to maximize the value of the organization.

Office of the Chairman - Enron Corp
Jeff McMahon, Executive Vice President and Chief Financial Officer, has been added to the Office of the Chairman of Enron Corp along with Ken Lay and Greg Whalley.  Among other things, Jeff has been working on the business plan for reorganization in Chapter 11 and is the primary contact with the newly formed Creditor's Committee.

Treasurer - Enron Corp
Ray Bowen was elected to Executive Vice President, Finance and Treasurer of Enron Corp recently.  In this role, Ray is responsible for all finance activities of Enron Corp.  Ray also has the lead role in managing the cash activities of the company on a day to day basis.

Corporate Development
Mark Muller has been appointed Executive Vice President - Corporate Development.  In this role, Mark will work with Enron's various business units on all asset disposals, which will be a key element in Enron's reorganization plan and value preservation.

Wholesale Services
The Wholesale Services group has been reorganized under the leadership of Jim Fallon.  Included in this group are the following businesses, ENA, EBS, EIM and EGM.  As part of the Chapter 11 reorganization, efforts in these businesses will be directed at maximizing value for the creditors as well as determining which businesses or assets will be part of Enron's reorganization plan.

Management Committee Departures
Unfortunately, due to the current financial condition of the company, the following members of the management committee have left the company or will be leaving the company by the end of December:

Michael Brown
Mark Frevert
Steve Kean
Mike McConnell
Jeff Shankman

Additionally, John Lavorato and Louise Kitchen have resigned from the Management Committee to arrange for the joint venture energy activities of NETCO.

We know as employees the uncertainty surrounding the future of the company is unsettling.  Unfortunately, that aspect will not change in the near term.  We ask for everyone's patience and continued support as we move forward through the Chapter 11 process.  We are committed to reorganizing into a strong company once again and will need the help of all the employees to achieve that goal.


Mr. Skilling-

Here are a few questions I would like to submit before your floor meeting on
the 32nd floor  Wednesday.

1.)  Enron seems to be taking a new approach to their business by taking
assets off the books and looking for new opportunities as a market maker in
new markets.  Is Enron going to be just a trading company?

2.)  If Enron is just a trading company our earnings could be quite
volatile.  How could this affect our stock price?  Will Wall Street be
prepared to accept more volatile earnings?

3.)  Volume on EOL seems to be decreasing since the middle of the year and
new platforms are being introduced into the market place.  Is this going to
have a negative effect on Enron's stock price?

4.) What are some of the new markets Enron plans to explore in the near
future?

5.)  Is Broadband coming along as quickly as Wall St. expects and how much of
our stock price is based on broadband?

I hope these questions are in line with some of the issues you wish to
discuss and I look foward to hearing you speak tomorrow.

Sincerely,

Matt Lenhart


i have a trade for you that will give you one more pick.  you give me your
2nd round pick and i will give you my 3rd rd & 6th rd picks.  two for
one-zies.  let me know what you think.


457 deals
13 New, 444 existing

Shari Mao
06/06/2000 12:04 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: May Activity Survey

Daren,
Please provide the number of Producer Services deals for the month of May
(New vs. Existing)
Shari
3-3859
---------------------- Forwarded by Shari Mao/HOU/ECT on 06/06/2000 01:02 PM
---------------------------

James Scribner@ENRON
05/30/2000 11:43 AM
To: Bob Klein/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Carrie
Hollomon/HOU/ECT@ect, Cheryl Dudley/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT,
Faye Ellis/HOU/ECT@ECT, Gordon Heaney/Corp/Enron@ENRON, Judy
Barnes/HOU/ECT@ECT, Kathryn Cordes/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Mary G
Gosnell/HOU/ECT@ECT, Michael E Moscoso/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Rita Wynne/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT,
Irene Flynn/HOU/ECT@ECT, Donna Consemiu/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect,
Connie Sutton/HOU/ECT@ECT, Dan Houston/Corp/Enron@Enron, Michael
Eiben/HOU/ECT@ECT
cc: Lisa B Cousino/HOU/ECT@ECT, Shari Mao/HOU/ECT@ECT, Jennifer
Reside/HOU/ECT@ECT, Elmo Gore/Corp/Enron@ENRON
Subject: May Activity Survey

Attached please find the Activity Survey for the month of May, 2000.

I am sending the survey out this time as an opportunity to introduce myself
to those of you I have not yet met.  I am being asked to take a direct roll
in the further development and rollout of the Operations Pricing Model (fka
Transaction Cost Model).  In the past, I have directed the implementation of
several pricing systems based on activity based costing similar to the
Operations Pricing Model (OPM).  Over the past couple of weeks my
observations of the Model have lead me to be concerned with the quality of
data used in the model.  It will take efforts by both you and the OPM team to
get to a satisfactory level of data quality.  This process can start with
this months data collection efforts.  Please pay particular attention this
month as the "bar is being raised" by the management of Energy Operations for
data quality and timeliness.

The attached survey drives your costs from your activities to the commercial
teams.  Please select your RCs, and fill in the driver quantity for the
requested driver for the month of May. Please fill out the attached activity
driver survey with May numbers for your RC and return to Shari Mao by end of
day Friday, June 2.

Please note the following updates:
For Nat Gas, Sally Beck is interested in physical (as denoted as PH in the
survey) vs. financial (as denoted as FI in the survey) numbers, please
provide statistics accordingly
If a driver has not been updated per your request, please call or email
Jennifer Reside
If you have additional updates / suggestions or items that need correction,
please call or email Jennifer Reside

If your group currently generates a standard report that captures the
surveyed data, please send the report to Jennifer Reside.  This will
eliminate your need to fill out this survey every month.  If you would like
us to collect this information from someone within your team beginning next
month, please let Jennifer know.

Please contact Jennifer Reside x3-5971 with questions (Shari is on vacation
this week), or if you are unable to complete the survey within the allotted
time.


Mr. Awano,

Per your recent request to Dr. Kitatani, we have contacted Mr. Idei's Office
to
find out his travel plans to the US in June.  Unfortunately, we were informed
that he is currently not scheduled to be out in the West Coast in June, and
therefore, will not be able to meet with Mr. Skilling at this time.

However, we were also informed by Mr. Idei's Office that he would be more than
happy to meet with Mr. Skilling during his next visit to Tokyo.  Therefore,
please keep us posted on any future travel plans to Tokyo that Mr. Skilling
may
have so that we may assist you accordingly.

Thank you and should you have any questions, please don't hesitate to call.

Best regards,

Ann Rubin

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Ann Y. Rubin
Business Planning/Board Secretariat
Sony Corporation of America
550 Madison Avenue, 33rd Floor
New York, NY 10022-3211
Tel: 212-833-6986
Fax: 212-833-6276
E-mail: ann_rubin@sonyusa.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


If you guys are just going to squabble like a couple of old ladies I'm not
sure I want to play golf with you!  By the way, Hill, your excuse is lame.  DF

"Hooker, David" <DHooker@UtiliCorp.com> on 05/18/2000 01:10:27 PM
To: "Peldner, Patrick" <PPeldner@utilicorp.com>, "'Drew.Fossum@enron.com'"
<Drew.Fossum@enron.com>
cc: "'dhill@wrf.com'" <dhill@wrf.com>

Subject: RE: Golf

There you go!  Always telling me what to do.

Pat:  Cal me when you have a few minutes.

> -----Original Message-----
> From: Peldner, Patrick
> Sent: Thursday, May 18, 2000 12:12 PM
> To: Hooker, David; 'Drew.Fossum@enron.com'
> Cc: 'dhill@wrf.com'
> Subject: RE: Golf
>
> That's the Norman course. Why don't you make a tee time.
>
> Pat
>
>  -----Original Message-----
>  From: Hooker, David
>  Sent: Wednesday, May 17, 2000 6:43 AM
>  To: Peldner, Patrick; 'Drew.Fossum@enron.com'
>  Cc: 'dhill@wrf.com'
>  Subject: RE: Golf
>
>  How about Mr. Norman's course?
>
>   -----Original Message-----
>   From: Peldner, Patrick
>   Sent: Tuesday, May 16, 2000 5:04 PM
>   To: 'Drew.Fossum@enron.com'; Hooker, David
>   Cc: Peldner, Patrick; dhill@wrf.com
>   Subject: RE: Golf
>
>   Its always what David wants to do. At least let's play
> somewhere nice. How about Meadowbrook farms?
>   Scratch Friday AM.
>
>   Does your friend have e-mail Drew? Or is he in court suing
> someone!
>
>   Pat
>
>    -----Original Message-----
>    From: Drew.Fossum@enron.com
> [SMTP:Drew.Fossum@enron.com]
>    Sent: Tuesday, May 16, 2000 3:45 PM
>    To: Hooker, David
>    Cc: 'Drew.Fossum@enron.com'; Peldner, Patrick;
> dhill@wrf.com
>    Subject: RE: Golf
>
>
>    Thanks for the offer!  Lets see when we get this
> event scheduled and I may
>    be able to take you up on it.  Looks like you
> Utilicorp guys need to get
>    coordinated or I may have to play golf twice.  That
> would be brutal.  DF
>
>
>
>
>    "Hooker, David" <DHooker@UtiliCorp.com> on
> 05/16/2000 02:53:49 PM
>
>    To:   "'Drew.Fossum@enron.com'"
> <Drew.Fossum@enron.com>, "Peldner, Patrick"
>          <PPeldner@utilicorp.com>
>    cc:   dhill@wrf.com
>
>    Subject:  RE: Golf
>
>
>    afternoon of June 1 works great with me.  I've
> "inked" you in.  Drewski,
>    plan to stay at the house that evening as well.
> same for you David Hill if
>    you can make it.
>
>    no, but would love to here the story.
>
>    > -----Original Message-----
>    > From:   Drew.Fossum@enron.com
> [SMTP:Drew.Fossum@enron.com]
>    > Sent:   Tuesday, May 16, 2000 2:21 PM
>    > To:     DHooker@UtiliCorp.com;
> PPeldner@UtiliCorp.com
>    > Cc:     dhill@wrf.com
>    > Subject:     Golf
>    >
>    > How about Thursday or Friday, June 1 or 2 for a
> round of golf?  I'm in
>    HOU
>    > all wk and the end of the wk looks pretty light.
> I'd be happy to venture
>    > out west to your Katy/San Antonio nick of the
> woods if you guys are
>    > available.  Hill, are you gonna be in Houston
> around then?  If so, can
>    you
>    > sneak the clubs past your wife?  Please advise.
> DF
>    >
>    > PS:  I met with Paul Bieniawski and his new
> storage group today.  Do you
>    > guys know how he parted terms with the Frogs?
>
>
>