fyi
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 08/16/2000 06:24
PM ---------------------------

"RCI IssueAlert" <IssueAlert@consultrci.com> on 08/16/2000 05:50:45 AM
To:
cc:
Subject: A Return to Regulation? California Problems Spark National Trend

Feedback regarding RCI's IssueAlert should be sent to wmcnamara@consultrci.com

=====================================================
ConsultRCI.com IssueAlert, August 16, 2000
A Return to Regulation? California Problems Spark National Trend
By: Will McNamara
=====================================================

With state power reserves falling below 7 percent for the second straight
day, and the demand for electricity continuing to increase, the California
Independent System Operator (CA-ISO), issued a Stage Two electrical emergency
on Tuesday. A Stage Two Emergency is a serious occurrence as it signals
that electric operating reserves in the state have fallen below 5 percent.
The Cal-ISO has issued over 10 Stage Two emergencies this summer, leaving
little doubt that the power supply problem in California has reached
disastrous
proportions. Other states (and foreign countries such as Japan) that have
deregulated their energy markets*or are about to do so*have kept a close
eye on the problems in California. These problems have sparked a national
debate over whether returning to or maintaining a regulated energy market
is a better option.

ANALYSIS: I've been tracking the chronic problems facing California in
RCI's IssueAlerts for several months, so for further background please
visit our archives at the link offered below. Yet, generally speaking,
it's fairly obvious that the promises of deregulation in California have
not materialized. Limited transmission lines, the fact that no new power
plants have been built in almost two decades, and a 3-percent increase
in demand have driven costs up in California instead of down. On Tuesday,
approximately 43,218 MW of power was consumed, topping Monday's peak of
43,087 MW. Exacerbating the already tight supplies is the fact that some
2,220 MW of generation, mostly in Southern California, are unavailable
due to power plant mechanical failures.

However, perhaps even more pertinent is a movement that I am seeing develop
both within California and other states that arguably is a direct result
of the problems we've seen on the West Coast. This movement is founded
on a platform that suggests deregulated energy markets should become regulated
once again, and those states that haven't adopted a restructuring plan
should take a "timeout" and reconsider if competition truly offers more
benefits than headaches.

Not surprisingly, California lawmakers and consumer advocates*blaming
deregulation
for the high rates that customers of San Diego Gas & Electric are now paying*
suggested
that the California market should become "re-regulated." Proposals included
imposing more governmental control over energy prices (which led to the
recent lowering of the price cap in the state to $250/MW) to having utility
companies buy back all the power plants they were forced to sell only two
years ago.

But the discussion of re-regulation has not been limited to California.
The New York City Council, for instance, has posted a bill that would give
the City authority to regulate the output of lead into the atmosphere.
As lead is a small part of the pollution generated by power plants, if
this bill passes the City would have a handle on power generation that
it does not now have.

Even more striking is the coalition of 23 low-cost energy states that have
petitioned Congress to exempt them from participating in deregulation.
The Low-Cost Electricity States Initiative (LCESI) actually has been in
existence for over a year, but is gaining momentum again now that it can
use California as an example of all that is wrong with deregulation. Some
of these states only want to open their wholesale markets to competition,
but not their retail markets. Others want to avoid deregulation altogether.
As a lobbying group, the LCESI has tried to convince Congress that any
federal restructuring law should be secondary to state plans, and that
any mandate regarding state participation in deregulation will be appealed.

Other low-cost states have started to drag their heels regarding deregulation,
even if they have not officially joined LCESI. Iowa, for instance, recently
decided that it won't even pursue the issue of deregulation during the
2001 session of its legislature, upon the urging of the state's largest
utility, MidAmerican Energy. New Mexico, which had previously approved
a start date of Jan 1., 2001, for electric competition, now has delayed
that start date until Jan. 1., 2002, to further investigate the impact
that competition will have on the state.

On the other hand, two states that are moving forward with their Jan. 1
start dates*Illinois and Ohio*continue to watch California closely but
think such problems will be averted in their own states. Ohio points to
the fact that its rate freeze won't be lifted for five years, which will
protect residents from the kind of price spikes now hurting customers in
San Diego. Illinois customers also will benefit from a longer rate freeze
and the fact that regulators in the state*having watched problems regarding
supply materialize in California*allowed for incumbent utilities to divest
of their power plants, but did not mandate it. Thus, importing power from
the wholesale market won't be as necessary in Illinois as it is in California.

However, between the 23 members of LCESI and the approximately 24 states
that have adopted some form of a restructuring plan, the United States
is almost evenly divided with regard to states that would or would not
be participating in deregulation. But, realistically, would states even
be allowed to "opt-out" from electric competition? Perhaps this might work
on the wholesale market, but ultimately I cannot see half of the U.S. states
retreating from retail competition if the other half is participating.
When educated properly about the true benefits of competition, electric
customers*especially industrial and commercial customers*will push for
competition within their states or go to states where they can choose their
energy provider. In addition, because of the way the nation's transmission
grid is structured, it would be near impossible to transport power any
great distance if states along the way refuse to grant access to their
transmission lines.

Moreover, perhaps it is not entirely wise to use California as a test example
for how deregulation will work nationally, as the LCESI is now attempting
to do. First, California clearly made some mistakes in its own restructuring
plan, not the least of which was the combination of mandating divestiture
and not allowing new plants to be built, ultimately leaving the state with
power supply problems. But other states are learning from these mistakes
and developing better restructuring plans. Second, states such as Pennsylvania
have adopted longer periods for rate freezes and stranded cost recovery,
thus protecting customers from price spikes for a longer period. Third,
deregulation in California has only been in effect for two and half years.
To write it off as a "failure" without allowing this huge system to work
out its own kinks is a mistake.

==========================================================

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Will McNamara
Director, Electric Industry Analysis
wmcnamara@consultrci.com

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 The opinions expressed in RCI's IssueAlerts are not intended to predict
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Will you please contact them again.  SS

	Tana Jones
	06/14/2000 10:04 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: pg&e

We have not yet received the executed documents.


Start Date: 4/19/01; HourAhead hour: 15;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041915.txt


Greetings folks.  We should decide how we want to handle.  One thing I'm not
clear on and that I couldn't find in the syllabus is, what's the format for
the write up?  If we're called on to discuss, do we simply discuss orally,
some sort of simplistic PP slides, spreadsheets, other?  Anyway to discuss
between now and Monday, or do we want to just take Dylan up on his offer?

Best,
Jeff

Kimberly Kupiecki <kkupiecki@arpartners.com> on 09/07/2000 06:56:44 PM
To: jdasovic@enron.com
cc: dwindham@uclink4.berkeley.edu, kupiecki@haas.berkeley.edu,
jjackson@haas.berkeley.edu
Subject: Re: E220 Case #1

Hello all,

I will take a look at the case tonight.

Divvying is fine with me.

At 03:22 PM 9/7/00, jdasovic@enron.com wrote:

>would seem useful if we all contribute in some manner, but i'm open to
>suggestions.  perhaps we could divvy up the questions.
>
>
>
>
>Dylan Windham <dwindham@uclink4.berkeley.edu> on 09/07/2000 04:50:31 PM
>
>To:   dasovich@haas.berkeley.edu, kupiecki@haas.berkeley.edu,
>       jjackson@haas.berkeley.edu
>cc:
>Subject:  E220 Case #1
>
>
>
>Hello,
>
>I have started to look at the case assignment for Monday.  Since, I will be
>out of town the following week I will volunteer to write this one up.  I
>don't know how he want to divvy up the work (by Questions or everyone does
>it all), but let me know.  I have already made a spreadsheet with the
>combined cash flow statement that I will send to you tomorrow.  Let me know
>how we want to handle this.
>
>--Dylan
>
>
>Ofc. Dylan H. Windham
>Threat Management/Domestic Violence Unit
>University of California Police - Berkeley
>Room 1 Sproul Hall
>Berkeley, CA 94720
>(510) 642-1606

Kimberly Kupiecki
Senior Account Executive
A&R Partners
kkupiecki@arpartners.com
(650) 762 2800 main
(650) 762 2825 direct
fax (650) 762 2801


Paula:  I think this looks OK-----Jim:  Since, as I understand it, this new director will be on the to be created independent litigation Committee, do our outside litigation lawyers need to bless this?  I think it is pretty straightforward.  Rex

 -----Original Message-----
From: 	Rieker, Paula
Sent:	Tuesday, November 27, 2001 3:10 PM
To:	Derrick Jr., James; Rogers, Rex
Subject:	Resolution for today

Pls. see the attached resolution electing Mr. Troubh to the Board and waiving the requirement he tender his retirement at 71 (he is 75).
 << File: AGENDA ITEM 5.doc >>

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This week's Lite Bytz presentation will feature the following APPZ speaker:

Hal Elrod
CommodityLogic
Thursday, April 26, 2001

If you have not already signed up, please RSVP via email to
litebytz@enron.com by the end of the day Tuesday, April 24, 2001.

*Remember: this is now a Brown Bag Event--so bring your lunch and we will
provide cookies and drinks.

http://home.enron.com:84/messaging/revisedhalelrod.ppt


Cathy:  I will be working in the London office during the week of January 15,
so I will not be at the staff meeting on January 16.  --Sally

From: Cathy Phillips on 01/12/2001 01:53 PM
To: Mark Frevert/NA/Enron@Enron, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Doug Arnell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan
Aronowitz/HOU/ECT@ECT, Pierre Aury/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Rick
Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathryn
Corbally/Corp/Enron@ENRON, Stephen H Douglas/HOU/ECT@ECT, Jennifer
Fraser/HOU/ECT@ECT, Shanna Funkhouser/Corp/Enron@ENRON, Eric
Gonzales/LON/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Vince J
Kaminski/HOU/ECT@ECT, Larry Lawyer/NA/Enron@Enron, Chris Mahoney/LON/ECT@ECT,
George McClellan/HOU/ECT@ECT, Thomas Myers/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, Jere C Overdyke/HOU/ECT@ECT, Beth Perlman/HOU/ECT@ECT,
Brent A Price/HOU/ECT@ECT, Daniel Reck/HOU/ECT@ECT, Cindy
Skinner/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Mark Tawney/HOU/ECT@ECT,
Scott Tholan/Corp/Enron@Enron, Lisa Yoho/NA/Enron@Enron
cc: Nicki Daw/NA/Enron@Enron, Cathy Phillips/HOU/ECT@ECT, Jennifer
Burns/HOU/ECT@ECT, DeMonica Lipscomb/Corp/Enron@ENRON, Yvonne
Francois/Corp/Enron@Enron, Angie Collins/HOU/ECT@ECT, Donna
Baker/HOU/ECT@ECT, Helen Marie Taylor/HOU/ECT@ECT, Chantelle
Villanueva/HOU/ECT@ECT, Betty J Coneway/HOU/ECT@ECT, Patti
Thompson/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Candace
Parker/LON/ECT@ECT, Joya Davis/HOU/ECT@ECT, Sharon Purswell/HOU/ECT@ECT,
Gloria Solis/HOU/ECT@ECT, Brenda J
Johnston/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kim
Hickok/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan McCarthy/LON/ECT@ECT, Paula
Forsyth/Corp/Enron@ENRON, Kristy Carnes/NA/Enron@ENRON, Shirley
Crenshaw/HOU/ECT@ECT, Jody Underwood/NA/Enron@ENRON, Kathleen D
Hardeman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stuart
Cichosz/Corp/Enron@ENRON, Judy Zoch/NA/Enron@ENRON, Sunita
Katyal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: EGM Staff Meeting - Reminder

Just a reminder that the next EGM weekly staff meeting will take place on
Tuesday, January 16th, from 8:30 - 9:30 a.m., in video conference room EB
30C1.  Due to the company holiday in observance of Martin Luther King day on
Monday, January 15th, the staff meeting has changed dates and locations for
next week only.  The staff meetings will resume their regular schedule on
Monday, January 22nd, in EB 32C2, and will continue on a weekly basis on
every Monday at the same time and location unless notified otherwise.  The
schedule for the next two weeks is as follows:

 Tuesday, January 16th 8:30 - 9:30 a.m.  EB 30C1
 Monday, January 22nd  8:30 - 9:30 a.m.  EB 32C2

Please let me know if you will be unable to attend the meeting on Tuesday,
January 16th.  Thank you.

Cathy Phillips
X-36898


Shirley,

No problem.

Vince
 -----Original Message-----
From: 	Crenshaw, Shirley
Sent:	Wednesday, June 27, 2001 3:03 PM
To:	Kaminski, Vince J
Subject:	RE: 1.  London, June 28 - 29; 2.  Houston, July 16 - 17

Vince:

Zimin will be able to go and he suggested that we ask Alex, because
of the college relationship?

 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Tuesday, June 26, 2001 12:08 PM
To:	Crenshaw, Shirley
Subject:	FW: 1.  London, June 28 - 29; 2.  Houston, July 16 - 17

Shirley,

Can you get tickets for either night Ehud mentioned?
Maybe Vasant and Zimin can join us?

Vince
 -----Original Message-----
From: 	"Ehud I. Ronn" <eronn@mail.utexas.edu>@ENRON [mailto:IMCEANOTES-+22Ehud+20I+2E+20Ronn+22+20+3Ceronn+40mail+2Eutexas+2Eedu+3E+40ENRON@ENRON.com]
Sent:	Wednesday, June 20, 2001 11:08 PM
To:	Kaminski, Vince J
Subject:	1.  London, June 28 - 29; 2.  Houston, July 16 - 17

Vince:

Greetings.

I write at this time for two reasons.  First, w.r.t. 6/28 - 6/29 London, I
remain uncertain whether you intend personally to attend and present at
that EPRM Financial Math course.  I wanted to advise you know that, in
addition to the sightseeing/theatre we traditionally do at these events, we
-- you, Duane Seppi, Peter Nance and I -- have been invited to dinner at
the home of Klaus and Renee Toft Sat. evening 6/30.

Second, w.r.t. the subsequent mid-July Houston training course, I write to
remind you that at EPRM 2001 we discussed the possibility of jointly
attending a baseball game at Enron Field 7/16 or 7/17.  Per the Astros'
schedule, it turns out the Cleveland Indians will be in town both nights
for a 7:05 p.m. first-pitch start time at the Field.  Let me know if either
7/16 or 7/17 works out from your perspective.

Hope all is well.  Best,
Ehud

==============================================
     Ehud I. Ronn
     Jack S. Josey Professor in Energy Studies
     Department of Finance
     McCombs School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


Jim, this issue is adequately covered in the lease and related documents which were blessed by you and the storage reservoir engineers.  Why this late expressed  concern?..........if you have facts which lead you to believe that AEP/HPL is operating this facility contrary to safe/industry standards or regulatory requirements or is otherwise endangering the facility, related facilities or the integrity thereof, please call me ASAP.   Sincerely

Barbara

	Jim Schwieger/ENRON@enronXgate 06/07/2001 04:16 PM 	   To: Brian Redmond/ENRON@enronXgate, Barbara N Gray/HOU/ECT@ECT  cc: John J Lavorato/ENRON@enronXgate, Thomas A Martin/ENRON@enronXgate  Subject: Bammel Lease Question

I was wondering if the Bammel lease to AEP contains any operating parameters to protect the integrity of the facility.  The question arises from the fact that Bammel  had about 24 BCF of remaining capacity when Enron turned the facility over to AEP.  We believe their plan is to max inject in June which would reduce the remaining capacity to around 12 BCF.  It could become a challenge to keep injections under the remaining 12 BCF level during the reaming 4-5 months of the injection cycle.  Enron always operated the facility with the understanding that a Gas In Place volume greater than 117.5 BCF could create a high enough pressure to jeopardize the safety of the wellhead casings and some of the abandoned wells.  We would not want the Texas RRC to question the safety of the Bammel facility.  From the other end of the perspective if the Gas In Place is taken below 65 BCF their is a high probability of watering out the outer wells and the facility itself.


looks good

Robin Rodrigue
07/07/2000 07:50 PM
To: Kathy Reeves/CAL/ECT@ECT
cc:
Subject: Re: FT Can Positions

Here are your positions including the exotics.

Robin


The following people will be out of the office on Dec 13, 14 and 17th:

Dec 13 - South Central:  Debra Joe
	North : Diana, James, Jerry, Nancy, Randy

Dec 14 - South Central: Debra, Joe
	North: Diana, James, Jerry, Kathy

Dec 17 - South Central:  Janet, Robert, Sherry
	North:  Karen, Nancy, Jean, Kathy

Larry


---------------------- Forwarded by Robert Benson/Corp/Enron on 05/11/2001 12:20 PM ---------------------------

Chris Dorland@ECT
05/11/2001 12:14 PM
To:	Robert Benson/Corp/Enron@ENRON
cc:

Subject:	Why One Firm Thinks Enron Is Running Out of Gas

---------------------- Forwarded by Chris Dorland/HOU/ECT on 05/11/2001 12:14 PM ---------------------------

	Dan Dorland 05/11/2001 07:50 AM

To:	Paul Devries/TOR/ECT@ECT, Jan Wilson/TOR/ECT@ECT, Jeff Borg/TOR/ECT@ECT, Dave Ellis/TOR/ECT@ECT, Garrett Tripp/TOR/ECT@ECT, Stephane Brodeur/CAL/ECT@ECT, Chris Dorland/HOU/ECT@ECT, kdorland@flint-energy.com
cc:
Subject:	Why One Firm Thinks Enron Is Running Out of Gas

http://www.thestreet.com/_yahoo/comment/detox/1422781.html

   Why One Firm Thinks Enron Is Running Out of Gas By Peter Eavis   Senior Columnist Originally posted at 5:23 PM ET 5/9/01 on RealMoney.com            A small research boutique with a reputation for rigorous analysis is telling clients to quickly dump Enron (ENE :NYSE - news ), believing that the energy trading giant's 2001 earnings will fall well short of Wall Street's forecasts.  Cambridge, Mass.-based Off Wall Street, led by analyst Mark Roberts, thinks Enron's 2001 earnings will fall 6 cents short of the consensus estimate of $1.79. The firm also believes Enron stock should trade around $30, nearly 50% below Wednesday's $59.20.  The firm's 26-page report, published May 6, highlights Enron's declining profitability and increasing leverage and suggests that the company should trade on the same sort of multiple as a trading firm like Goldman Sachs (GS :NYSE - news ), which has a 2001 price-to-earnings ratio about half of Enron's 33 times. OWS also alleges that Enron's earnings quality is poor and that key parts of its financial statements are confusing and opaque.  Houston-based Enron didn't comment by publication time on elements of the report that Detox  sent the company. An energy analyst who is bullish on Enron's outlook says the OWS report contains fundamental misunderstandings about the energy market and Enron's business model, but he says the report does include some ground-breaking and valid insights. (The analyst's firm doesn't give stock recommendations.)  Economies of Scale Why care what Off Wall Street writes, compared with, say, analysts at Merrill Lynch (MER :NYSE - news )? For one, OWS has an excellent track record. Particularly sweet was 2000, when the tech stocks it had bashed came crashing down. It has also shown itself to be well ahead of the curve, recommending that clients sell e-tailer priceline.com (PCLN :Nasdaq - news ) in June 1999, when faith in Internet stocks was at its blindest and their prices at their most insane.      Pulling Back Enron retreats after long rally   Enron, with its domination of a burgeoning energy market, annual revenue of over $100 billion and impressive earnings growth, can hardly be ranked alongside the likes of priceline. But OWS thinks Enron is set for a precipitous drop nonetheless. Why?  OWS's main beef is that key profitability measures are in decline. Margins on Enron's pretax operating earnings (which the company's earnings releases call IBIT, or income before interest, taxes and other items) are falling. Total IBIT of $795 million in the first quarter amounted to only 1.59% of the $50 billion in revenue for the period, compared with a 2.08% margin in the fourth quarter and 4.75% in the year-earlier period. Revenue in the first quarter was nearly quadrupled from the year-earlier period, yet IBIT rose only 27%. This shrinkage is due to lower-margin trading income making up an increasingly large share of Enron's revenue base.  OWS thus calculates that for the remainder of 2001 Enron needs to generate an extra $2.1 billion in revenue for each additional penny it makes over its 2000 EPS of $1.47 to reach analysts' expectation of $1.79.  The energy analyst counters that OWS apparently hasn't grasped how Enron can continue to increase earnings even when margins shrink. It does so simply by increasing volumes as the energy market balloons in size. In other words, margins may decline, but since revenues are so much higher, earnings still go up. Illustrating this, first-quarter 2001 EPS of 49 cents was 23% ahead of the year-ago figure, even though the IBIT margin shrank by 3.2 percentage points. The analyst thinks Enron will make $1.82 per share in 2001.  Growing On You In addition, the huge growth in the energy market that has so helped Enron is likely to continue for several years, according to the analyst. He notes that roughly 75% of the electricity available in the U.S. still isn't traded in a market. "Eventually it will be part of a competitive environment, but it'll take five to 10 years," says the analyst. And he believes the extreme volatility in energy-related commodities that has also benefited Enron will exist for longer than OWS projects.  Still, OWS's point on profitability is bolstered by other profit measures. Return on capital (net income as a percentage of equity plus debt) was 6.6% in 2000, down on 1999's 6.9% and well below the 2000 returns on capital at Duke (DUK :NYSE - news ) (11.8%), Dynegy (DYN :NYSE - news ) (12.1%) and even Goldman (8.9%).  Even Enron bulls will admit that its financials are hard to follow. For example, it doesn't give a gross margin number for its wholesale services, or trading, business, which accounts for 96% of revenue. But one area of the company's financial statements registered with the Securities and Exchange Commission that consistently bugs analysts is the part that describes Enron's related party transactions, which are the deals it does with entities that have some sort of link to the firm. In fact, one of the related entities that Enron has traded with is headed by Enron's CFO, Andrew Fastow. The energy analyst comments: "Why are they doing this? It's just inappropriate."  The reason for maintaining these hard-to-follow related party deals has been a source of speculation. But OWS analysis shows how a sales of optical fiber to a related party may have been used to goose earnings in the second quarter of 2000. Estimated profits from the so-called dark fiber (optical cable without the gear to send data over it) transaction allowed Enron to beat analysts' second-earnings earnings estimate by 2 cents a share, rather than missing by 2 cents.  How soon before Wall Street follows Off Wall Street on Enron?


Could you check out the sitter thing?  We could drop off Michael and take the
Enron Field shuttle.  I don't need to stay late - I'm sure 2 hours would do
it.

"Neil Mann" <nmann@erac.com> on 02/08/2001 02:52:48 PM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE:

I would like to go to the Enron booth but it's truly your call. I bet we can
get Choc to help but I need to call her asap...
That's neat about the head of the PTL group.
I think you should do some mom and son stuff with Michael. Your right about
me and a large group of people on a boat...
love, NM

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Thursday, February 08, 2001 2:05 PM
To: nmann@erac.com
Subject:

Hi.

How's it going?

Any more thoughts on tomorrow night?  We could ask your mother to sit for a
little while.  I think it is pretty neat to get invited to the Enron one.

The head of the power trading legal group stopped by and said to let her
know if I ever want to change groups.  I thought that was nice.

I'm contemplating doing something special with Michael over spring break.
I figure you guys have lots of "guy only" stuff coming up, but there aren't
a lot of "mom/son" opportunities.  (be realistic)  Maybe we should take a
Disney cruise, since that's something you wouldn't like to do.

Love,

ckm


Mark and Veronica,

Please review the following documents.

The contact person listed in the intro. letter is Janet Owens, Corporate Risk
Manager, 412/395-2618 and my contact is Greg Davis, VP  of Trading Equitable
Energy LLC 412/395-2626.

I will be out of the office until June 26, 2000 but will be checking my voice
mail @37302.  Let me know what you think.

---------------------- Forwarded by John Grass/Corp/Enron on 06/15/2000 02:51
PM ---------------------------

jowens@eqt.com on 06/15/2000 02:19:57 PM
To: jgrass@enron.com
cc:

Subject: ISDA

 <<ISDA_Sect29_Letter.doc>>  <<ISDA_Standard.doc>>
<<ISDA_SchA_Sect29r.doc>>

 - ISDA_Sect29_Letter.doc
 - ISDA_Standard.doc
 - ISDA_SchA_Sect29r.doc


Home: 281-288-8251
Cell: 281-503-8732

Cell will be the best way to contact me.  I will be out Thurs and Fri of this week.

D

 -----Original Message-----
From: 	Vuittonet, Laura
Sent:	Wednesday, December 12, 2001 11:12 AM
To:	Bass, Eric; Baumbach, David; Bryan, Gary; Buss, Jd; Denetsosie, Troy; Farmer, Daren J.; Hull, Bryan; Knippa, Mark; Larubbio, Morris; Martin, Thomas A.; Olsen, Michael; Parks, Joe; Redmond, Brian; Roberts, Linda; Salinas, Michael; Schwieger, Jim; Weldon, V. Charles
Subject:	Need Phone Numbers Please!

For those of you who plan on taking vacation this week, please provide me with a number where you can be reached, just in case we need to reach you.

Thanks!
Laura


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As evidenced by an exceptionally strong performance in the second quarter,
Enron,s wholesale energy businesses in North America and Europe continue to
experience tremendous growth.  The opportunities to continue to grow our
natural gas and power businesses have never been better and it is critical to
Enron,s future success that we remain focused on expanding these businesses
and maintaining the strong momentum we have in these markets.

It is equally important that we continue to develop new businesses outside of
gas and electricity, which can make significant contributions to our earnings
growth.  We have made significant progress in developing these businesses in
North America, Europe, and most recently in our new Net Works business unit.
Included in these global businesses are our efforts in crude and products,
coal, emissions, insurance, currency, equity trading, interest rates, credit
trading, paper and pulp, and metals.

While significant progress has been made in these efforts we need to
accelerate the growth of these new businesses while continuing to
aggressively expand our core gas and electricity businesses in North America
and Europe.  In order to accomplish these two objectives and to capitalize on
the increasingly global opportunities in these new businesses we are today
announcing the formation of a new business unit ) Enron Global Markets.  This
new business unit will focus on markets and commodities which are global in
scope, but outside our traditional gas and power markets.  This new core
business unit will operate in parallel with and in close coordination with
the North American and European businesses.

Enron Global Markets will be headed by Mike McConnell, President and Chief
Executive Officer, and Jeff Shankman, Chief Operating Officer.  They will
report to Mark Frevert who will be Chairman of Enron Global Markets.  Mark,
Mike and Jeff will comprise the Office of the Chairman for Enron Global
Markets.

Included in this new business unit and reporting to the Office of the
Chairman will be the following businesses and their leaders:
- Global Crude and Products:     John Nowlan
- Coal:         George McClellan
- Currency, equities, interest rate and agricultural trading:  Gary Hickerson
- Insurance and weather:      Jere Overdyke

Enron,s metals business and Enron Credit.com will remain the responsibility
of Enron Europe. The Paper and Pulp business will continue to reside in North
America.

With the departure of Mike McConnell from Enron Net Works, we are pleased to
announce the following appointments in that business unit:
- Jeff McMahon: President and Chief Operating Officer
- Louise Kitchen: Chief Commercial Officer
- Philippe Bibi:  Chief Technology Officer

Jeff, Louise and Philippe, along with Greg Whalley,  will comprise the Office
of the Chairman for Enron Net Works.

With Jeff Shankman,s departure from Enron North America,s natural gas
operation, all of Jeff,s direct reports will report to John Lavorato.

We are also pleased to announce the following changes to the Enron North
America Office of the Chairman.  John Lavorato will join the ENA Office of
the Chairman as Chief Operating Officer.  Dave Delainey will assume the role
of President and Chief Executive Officer.  Mark Frevert will retain his role
as Chairman of Enron North America in addition to his role as Chairman of
both Enron Global Markets and Enron Europe.

Please join us in congratulating everyone in their new assignments and in
supporting the new Enron Global Markets organisation.


Start Date: 4/25/01; HourAhead hour: 24;  HourAhead schedule download failed.
Manual intervention required.


Market Participants,

The California ISO  is initiating this Request for Bids in an effort to
obtain up to 3,000 MW of new generation resources to allow the ISO to
operate the ISO Control Area to meet Applicable Reliability Criteria under
peak Demand conditions during the Summer Period of 2001.

While the ISO seeks to acquire generation resources under this RFB through
one-year agreements, it will also consider bids that require an ISO
commitment for the Summer Periods of 2002 and 2003 if responses proposing
one-year arrangements prove insufficient to meet the ISO's requirements.

The RFB is attached to this email and posted on the ISO Web site at

http://www1.caiso.com/clientserv/stakeholders/

Inquiries regarding this RFB should be directed in writing or electronically
to Brian Theaker as noted on the first page of the RFB.

Don Fuller
Director, Client Relations

>  <<Summer Generation RFB.doc>>
>
>

 - Summer Generation RFB.doc


Attached please find the interview packet for the above-referenced person.
The interview will happen Friday July 14, 2000.  Please print all three
documents for your hard copies.  If you have any questions, or conflicts of
schedule, please do not hesitate to contact me.

Sean
58701


RadioWallStreet
Tuesday, October 17

Enron Wholesale & Retail
Business Hits Record Level

Enron beat the Street as earnings climbed 31% thanks to online energy
trading. Third quarter revenue soared 154% to $30 billion. Enron Pres/COO
Jeffrey Skilling tells RadioWallStreet.com he believes crude oil prices will
begin to fall in 2001. (ENE)

http://www.radiowallstreet.com/NASApp/RWS/Index?Accept=C

Energy Trading, EnronOnline Help Enron Top 3rd Quarter Estimates
By Christina Cheddar
Of DOW JONES NEWSWIRES

10/17/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- After once again helping Enron Corp. (ENE) to top Wall
Street's expectations, the importance of Enron's energy trading operations
was further cemented in the third quarter.
Enron's third-quarter earnings rose 31% to $292 million, or 34 cents a share,
from $223 million, or 27 cents a share, before items, a year ago.
Third-quarter revenue rose 154% to $30 billion from $11.84 billion.
In the year-ago period, Enron's net income was $290 million, or 35 cents a
share, after a gain of $345 million, or 44 cents a share, on the sale of its
stake in Enron Oil & Gas Co. (EOG), and a charge of $278 million, or 36 cents
a share, on its MTBE asset.
According to First Call/Thomson Financial, analysts were expecting Enron to
earn 32 cents a share in the latest third quarter.
The key driver of the company's performance was its wholesale business, which
includes EnronOnline and commodity sales, and which has transformed Enron
from a gas pipeline company to the world's largest energy trader.
In the third quarter, the wholesale business just had "a stunning quarter,"
said Enron President Jeff Skilling.
Revenue from Enron's wholesale energy operations and services unit, which
includes EnronOnline and commodity sales, more than doubled to $28.15 billion
from $11.06 billion.
Income before interest, minority interest and taxes, or IBIT, in the third
quarter rose 66% to $627 million from $378 million a year ago.
During the latest period, physical deliveries of energy commodities grew 64%
to 53.5 trillion British thermal units, Enron said.
EnronOnline, the company's Internet-based transaction system, is driving the
growth of the wholesale segment, said Raymond Niles, an analyst at Salomon
Smith Barney.
Currently, more than 60% of the Enron's wholesale business occurs through
EnronOnline. As of Oct. 11, EnronOnline had executed more than 350,000
transactions online, totaling $183 billion of gross value since its inception
in late 1999.
EnronOnline, which initially bought and sold natural gas, electricity,
petrochemicals, and bandwidth, has expanded to other commodity areas such as
metals and pulp and paper.
J.P. Morgan analyst Anatol Feygin supports Enron's decision to expand to
other commodities. "The only limit (to expanding to other commodities) is
intellectual capital," Feygin said.
He estimates that the North American steel business is a $35 billion
business, while pulp and paper is about $150 billion.

At least part of the success that Enron had during the third quarter was the
result of price volatility in California's deregulated energy market.
However, the company wouldn't specify what it earned in the state.
During the third quarter, utilities in the Golden State paid near-record
rates for electricity as higher demand pushed the power grid to the brink.
"The uncertainty and the volatility that we have been seeing in the
electricity and the gas market has been beneficial to Enron," said Enron's
Skilling.
California's situation is rather unique, he said. Skilling expects
Californian electricity markets will improve as supply and demand fall into
balance and other technical market questions are resolved.
Although Enron posted strong earnings across the board, it is getting clearer
that the company will look to divest itself of some of its international
assets.
According to a source familiar with the company, Enron recently completed an
analysis of its assets with the intent of identifying underperforming assets
and improving capital efficiency. As a result of the analysis, some assets
were marked for sale.
Skilling admitted the company would like to monetize some of its
international assets, but he wouldn't say which assets are on the auction
block.
However, it is unlikely Enron will sell its international gas pipelines
because the assets receive a solid rate of return, Skilling said.
One asset that could be divested is Enron's Dabhol Power Project in
Maharashtra, India, said analysts. Other power plants in Italy and Turkey
also seem like logical candidates for sale.
"I think it makes a lot of sense for Enron," said Salomon's Niles. "Enron is
moving into markets where they are relying on intellectual capital rather
than physical capital," he said. Following this logic, assets such as the
India power plant don't make as much sense as they once did.
In some cases, the international assets are in countries that didn't open to
competition as expected, explained Zach Wagner, an analyst at Edward Jones.
Since deregulation has been fueling Enron's growth, it only makes sense that
the company concentrate on open markets.
Furthermore, Wagner believes the money Enron will raise in the asset sales
could be re-deployed to fund projects such as the company's venture with
Blockbuster Inc. (BBI) to provide movies on demand via high-speed telephone
lines.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Nick Utton Joins The New Power Company as Managing Director and Chief
Marketing Officer

10/17/2000
PR Newswire
(Copyright (c) 2000, PR Newswire)

GREENWICH, Conn., Oct. 17 /PRNewswire/ -- The New Power Company(TM) (NYSE:
NPW), the first national residential and small business energy provider,
today announced that Nick Utton has joined the Company as Managing Director,
Chief Marketing Officer, reporting to the President and Chief Executive
Officer, H. Eugene Lockhart.
Prior to joining The New Power Company, Mr. Utton, 43, was Chief Marketing
Officer of MasterCard International. Mr. Utton joined MasterCard in 1996 and
played an integral role in the creation and development of MasterCard's
successful "Priceless" advertising campaign. He was responsible for brand
building initiatives and marketing integration that included overseeing
global advertising, product development programs and sponsorships and
promotions.
James Badum, 40, who had served as Chief Marketing Officer prior to Mr.
Utton's arrival, is assuming the role of Managing Director, Strategic
Planning.
During his career Mr. Utton has served as Senior Vice President,
International Marketing at Revlon International, Marketing Director for
Cadbury Schweppes as well as various product management positions at
Bristol-Myers Squibb Company, Richardson-Vicks Inc. and Unilever.
Mr. Utton holds a Bachelor of Commerce in Business Administration and
Marketing from the University of Natal in South Africa and a Bachelor of
Commerce Honors Degree in Business Economics from the University of South
Africa. Mr. Utton and his family are residents of Greenwich, Connecticut.
The New Power Company was formed in May 2000 to provide electricity and
natural gas directly to households and small businesses in the deregulated
energy marketplace. The company draws on the expertise, experience and market
strength of such industry leaders as IBM, AOL and Enron to bring savings and
efficiencies to energy consumers.

/CONTACT: Gael Doar, Director of Communications of The New Power Company,
203-531-0400, ext. 658, or gdoar@newpower.com/ 13:46 EDT

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

   BROADCAST TRANSCRIPT

    Date      October 17, 2000
    Time      09:30 AM - 10:00 AM
    Station   CNNfn
    Location  Network
    Program   Market Call

              Alan Chernoff, anchor:

              And certainly we do have some encouraging numbers this
              morning from Enron, posting very impressive numbers.  The
              nation's-largest buyer and seller of electricity and
              natural gas says revenues jumped one hundred fifty-four
              percent in the third quarter to thirty billion dollars.

              Enron did earn thirty-four cents a share, beating estimates
              by two cents and the year ago quarter by seven cents.  The
              company has shed its image as a stodgy utility.  It's
              building a broadband telecom network, as well as beefing up
              its on-line presence to trade everything from metals to
              coal.  Investors have been responding positively, pushing
              the stock up as high as ninety.  In fact, the stock this
              morning trading at eighty-two I see, up two points.
              (Graphic:  Enron (ENE) one-year stock chart)

              And joining us right now from Houston to talk about the
              latest numbers and tell us what other changes are in store
              is Jeff Skilling, president and chief operating officer
              over at Enron.

              Jeff, congratulations this morning on your earnings report.
              So much has been made about your move into broadband but
              that's one area where you are still losing money, twenty
              million during the last quarter, correct?

              Jeff Skilling (President, Chief Operating Officer; Enron):
              Well, David, it's a start-up business so we expect that
              over the next couple of years we will lose money in our
              bandwidth business.  But we see in two, three years out in
              the future that that's likely to be a very significant
              business for us.

              Chernoff:  Mr. Skilling, let me add a question about the
              Internet business because that is one area where Enron does
              seem to be doing extremely well.  You guys are trading
              energy right now, you're trading a whole bunch of other
              products right over the Internet.  How's it going and
              what sort of expansion do you see over there?

              Skilling:  Well, as you mentioned, we had a big, big
              up-tick in revenues and I think a large portion of that is
              due to our on-line transaction business.  Since we brought
              it on-line last November--November 29, we've done over a
              hundred and eighty-five billion dollars of transactions, so
              it's been a big piece of the activity this year.

              David Sowerby (Guest Host, Loomis, Sayles):  Je--Jeff, the
              remarkable performance of your stock price in the last year
              and a half, two years, your price-to-earnings ratio is
              about--almost sixty times earnings.  The average utility is
              trading at about twenty-five times earnings.  What do you
              tell the investor today who's thinking about adding to
              Enron with--with such--with such a high P/E ratio relative
              to your peer group?  (Graphic:  Enron Corp.  *Market Cap:
              $59.3b *52-week high:  90 *52-week low:  34 7/8)

              Skilling:  Well, a--a big portion of the P/E ratio is the
              result of our broadband business.  If you take out the
              portion of our--our equity valuation that's related to
              broadband, which is not generating any earnings, and look
              at just say our wholesale business, our wholesale business
              is selling for about a twenty-five to thirty multiple.  So,
              we think, given the growth rates that we're seeing in the
              energy business and our wholesale business, that we have
              some significant upside on that valuation which we think
              will push our stock up overall.  (Graphic:  Enron ??
              Markets and trades:  *Electricity *Natural Gas *Other
              commodities *99 revenues:  $40b)

              Chernoff:  Well, Jeff, let's talk about that broadband
              aspect 'cause as you say, the market certainly is giving
              you a lot of credit for that but at the same time, over the
              past few weeks, there's been a debate on Wall Street as to
              whether we might actually be entering a broadband glut.  Is
              that a fantasy?  (Graphic:  Enron ??  *No.  1 U.S.
              buyer/seller of natural gas (Provides energy consulting,
              construction & engineering services))

              Skilling:  No, I think that's a very real possibility.
              (Graphic:  Enron ??  *Subsidiary Enron Broadband Services
              building national fiber-optic network)  And, in fact, we've
              designed our business to take advantage of that.  You know,
              if you--if you look at the history of Enron, we created
              markets for natural gas and electricity when those markets
              were in massive over-supply.  And we some of the same
              characteristics in the--in the broadband business which is
              why we've begun building the capability to transact real
              time bandwidth so that when the market prices do decline,
              and I believe they'll decline pretty significantly, we'll
              be in a position to make that--that lower cost capacity
              available to our customers.  (Graphic:  Enron ??
              Commodities traded:  *Paper *Coal *Chemicals *Fiber-optic
              bandwidth)

              Chernoff:  And in terms of data storage, I know you're
              looking at that area.  Are you guys pla--planning to go
              head-to-head with EMC?  What's going on over there?
              (Graphic:  Enron ??  *32,000 miles of gas pipeline
              (Fortune Magazine:  Ranked "Most Innovative Co." past 5
              yrs))

              Skilling:  Well, it just seems like more and more
              businesses are turning into commodity businesses and that's
              what we do.  We create markets for commodities and I--I
              wouldn't be at all surprised if you see data storage turn
              into a commodity where you'll be able to buy and sell it
              just like you buy and sell pork bellies on the--on the
              Exchange.  (Graphic:  Enron ??  Top Competitors:  *AEP
              *Duke Energy *UtiliCorp)

              Chernoff:  OK.  Jeff Skilling of Enron.  Thank you very
              much and congratulations on a great earnings report.

              Skilling:  Thank you.

                        # # #


We need to break out our Midcon region into two separate books starting with
July production.  We did this with the Market region a couple of months ago.
If possible, I would like to use these two names:

 ENA-IM Mid Central South
 ENA-IM Mid Central North

Please let me know what needs to be done in order to expedite this request.
Thanks.

DG    3-9573


Hey,

So what's going?  What is the deal with the new company?  Are you guys
pretty much staying in the same place just now have a new name and some
liquidity.  I think I'm going to have to pass on the Vegas trip this year.
I really need to save money for the house and even though I'm passing on an
opportunity to make money, although that hasn't been the case my last 4
trips, I'm still going to have to pass.  Plus I might be going for another
bachelor party around the late Feb early March time frame anyway.

Yes Kyle Lilly is now working here.  His brother-in-law works here and I
think since they had there first child he was looking to get around more
family, neither his nor his wife's families live in Houston.  So anyway I
think we had been talking to him since the summer and it ended up being
pretty good timing since we didn't hire him until December.  The job is
alright.  The hours are starting to come back down and for the most part
everything is going good.  It seems like time of service has a lot to do
with moving up in this company and that is a little discouraging, but I
guess I will not worry about that too much.

Have you heard from Victor?  Has he found a job yet?

Well I hope you guys have fun and let me know how much money you win.

Kyle

                    "Keiser, Kam"
                    <Kam.Keiser@e        To:     <Kyle.Etter@valero.com>
                    nron.com>            cc:
                                         Subject:     RE: Valero at Enron Job Fair on Friday
                    01/11/2002
                    08:15 AM

Hey,

Phillip already made reservations and Jeff is waiting to make sure he can
go.  Darren and his wife have made their plans, and Dawn and Gary have
also, I think.  I will next week, and a couple other girls from risk are
going too.  We're leaving on the 13th, returning the 16th.  Staying at the
Mirage.

You could win thousands in Vegas to use for your house.  What other
vacation can do that.

Well, we think we should hear something today as far as who we work for
now.  I'm sure it will be next week though.  We're assuming it will happen
and have been setting up all new files and databases.  It should be
interesting.

How is your job?  Does Kyle Lilly work for you now?

Later,
Kam

-----Original Message-----
From: Kyle.Etter@Valero.com [mailto:Kyle.Etter@Valero.com]
Sent: Thursday, January 10, 2002 5:07 PM
To: Keiser, Kam
Subject: RE: Valero at Enron Job Fair on Friday

Maybe so, I'm guessing that is during Spring Break again?  Not too sure if
I really liked it with that many people out there, too many high dollar
tables.  Have you guys already made reservations?  Give me a little more
info but I kind have been saving for the house.  It should be ready around
late March or early April and I know I will have to buy a lot of stuff for
that, like a kegorator you know important things.

So what's the latest at Big E or I guess Little E now.  You think you guys
will go to the new joint venture or what ever happens to the trading
company when they sell it off?  Have you been looking?

Keep me in the loop.

Kyle

                    "Keiser, Kam"

                    <Kam.Keiser@e        To:     <EtterK@valero.com>

                    nron.com>            cc:

                                         Subject:     RE: Valero at Enron
Job Fair on Friday
                    01/10/02

                    08:22 AM

Hey,

It's Vegas time baby!!!!!

March 13-16th.

Feel like winning some $$$$?

-----Original Message-----
From: EtterK@valero.com [mailto:EtterK@valero.com]
Sent: Wednesday, December 12, 2001 8:09 AM
To: nhiemstra@houston.rr.com; Gossett, Jeffrey C.; Martin, Greg;
Reitmeyer, Jay; Keiser, Kam; Mark.Friedman@enron.com; Moon, Eric;
Hiemstra, Nick; Reagan.Mathews@enron.com; sscott5@enron.com;
vguggenheim@swbell.net; Love, Phillip M.;
Mary.Theresa.Franklin@enron.com; reaganmathews@yahoo.com;
wkelly2@houston.rr.com
Subject: Valero at Enron Job Fair on Friday

Hey guys just thought I would let you know that Valero is going to be at
the Job Fair this Friday at Enron Field from 1-4 and I will be one of the
people attending it to represent us.  So if you are going to be there make
sure you come by and at least say hello.  Plus depending on when my flight
back is going to be and how soon I can leave the Fair we plan on going
somewhere and getting a couple of drinks.  So come by drop off a resume and
maybe we can get some drinks.

Note:  If you are interested in Valero there is a very good possibility
that the Director of Mid-Office will be attending as well and it would be a
good chance for an informal interview.

Hope everybody is doing alright and pass the word on to anybody I may have
missed.

Kyle

**********************************************************************
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.
**********************************************************************


1st day of cong meeting


Dave:
The above counterparty has requested the following changes to the ETA:

1. Make the reps in section 2(d) reciprocal

2. Make the assignment provision in Section 6(b) reciprocal

3. In Section 6(c), insert the word "its" between the words "all" and "third".

Please advise.

Carol

3.


James Aimone is a canditate for a summer position supporting the ENA option
pricing and valuation team.

He will be at Enron, Friday April 28 from 2:30 to 4:00.

Schedule of interviews:

Stinson Gibner  2:30-2:45
Zimin Lu  2:45-3:00
Paulo Issler  3:00-3:15
Elizabeth Grant  3:30-4:00

thanks,

Stinson


Bummer.  Too bad all of us are captive to Eric's schedule.
Bill and I enjoyed our too-short trip to the GC.  We hiked down Bright Angel
trail to the second rest stop, which was plenty for me.  It was pretty hot.
Wish we could have stuck around longer but Bill had to be back for a trial.
Talk about restrictive travel schedules.
I was thinking about you and Karin and wanting to take your customary nature
trips...you know, when Grayson is a little older, we could go on some trips
and just take turns staying at the hotel/cabin with her while everyone else
goes hiking/climbing/whatever.  You might have to pay for extra hotel days
that way, but at least you would get to go.  In the meantime, what about
staying in one place for a week or so -- a beach house, for example.  Eric
permitting, I think it would be fun to get everyone together in Florida or
Colorado sometime within the next year.
My car is ready at the shop.  Yay!
Ciao,
Sus.

"Shelton, Jim" <js@overlandpartners.com> on 05/05/2000 08:55:34 AM
To: "'Susan.Scott@enron.com'" <Susan.Scott@enron.com>
cc:

Subject: here we go again

Sus:

Not to complain,but AARRRRRRRRRRGGGHHHHHHHHH!!!!!!!!!!!!!!!!

Now that we have canceled our reservations for the cabin at Zion for the end
of October, because Eric's window of opportunity for travel in California
was limited to that specific two week period, and have been on the phone for
a week making earlier arrangements and putting a deposit down, it seems
that, "well, you see there is this car race in Carmel and, well we would
really rather go earlier in the month"

Well we lost the cabin and spent money for accommodations that are not as
good, and that's why we checked before.

tuff

jim


Ditto Credit.

	Tana Jones@ECT
	05/01/2001 04:53 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: EOL approvals, 05-01-01

----- Forwarded by Tana Jones/HOU/ECT on 05/01/2001 04:53 PM -----

	Walter Guidroz/ENRON@enronXgate
	05/01/2001 04:51 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/ENRON@enronXgate, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Claudia Clark/ENRON@enronXgate, William S
Bradford/ENRON@enronXgate, Lisa Lees/ENRON@enronXgate, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications, Molly LaFuze/Enron
Communications@Enron Communications, Danny Clark/Enron Communications@Enron
Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT
		 cc:
		 Subject: EOL approvals, 05-01-01

Please see attached.


Mark:

Because you are a registered CLEonline.com user, we would like to provide
you with the following update about our online CLE seminars for
March, as well as other notes of interest:

*  March Seminar Listing

*  Houston Bar CLE seminars on CLEonline.com!...

*  New this month:  --> Identity Theft -- Strategies for the
Information Age

--> Appearing Before the Texas Board of Pardons
and Paroles - or - 'How to Deal with a
Three-Headed Monster'

--> Law Practice Management: How to Enhance Your
Clients' Interests when Dealing with the Media

--> The Rewards of Decency [2.0 ETHICS]

--> Survival Training for Domestic Violence (NALS)

--> Additional Ethical Issues Facing In-House
Counsel [3.0 ETHICS]

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

The following is a complete listing of all of our online CLE seminars
that will be taking place on our Web site (www.CLEonline.com) during the
month of March.  We would ask that you please share this list with
your colleagues and associates who may be interested in one or more of
our online CLE seminars for this month.

1. Additional Ethical Issues Facing In-House Counsel [3.0 ETHICS]
2. Anticipating Will Contests and How to Avoid Them  [3.0]
3. Appearing Before the Texas Board of Pardons and Paroles - or - 'How
to Deal with a Three-Headed Monster'  [1.5]
4. Avoiding Malpractice Claims: Things to Do (and NOT Do) on the First
Day You Represent a Client [1.0 ETHICS]
5. Confidentiality and Privileges in Electronic Communications [3.0
ETHICS (Audio included)]
6. Consumer Bankruptcy Law: Nuts & Bolts for the Non-Specialist  [1.0]
7. Damages in Texas Insurance Litigation: Evaluating, Pleading, and
Proving [1.0]
8. Deposition Issues and Strategies: Today and Into the 21st Century
[3.0]
9. Dissecting the Web / E-Commerce Environment and Analyzing the Legal
Issues  [1.0]
10. Effective Negotiation and Mediation Advocacy  [3.0]
11. Elimination of Bias in the Legal Profession [1.0 ETHICS]
12. Estate Planning for Clients With Special Circumstances -- Lottery
Players/Winners and Pet Owners  [1.0]
13. Ethical Considerations in Estate Planning for Spouses [1.0 ETHICS]
14. Ethical Considerations in Mass Tort and Class Action Litigation in
Texas [1.0 ETHICS]
15. Ethical Issues Arising From Using Experts in Litigation [1.0 ETHICS]
16. Ethical Issues and the Associate -- Or -- And You Thought Law School
was Bad! [2.0 ETHICS]
17. Ethical Pot-Holes on the Information Highway and How to Avoid Them
[1.0 ETHICS]
18. Ethical Risks and Responsibilities of Attorneys and Firms Prosecuting
Patents for Different Clients in Related Technologies [1.0 ETHICS]
19. Family Law Update: What You Don't Know CAN Hurt You [Video included]
[1.0]
20. How to Collect Child Support in Texas  [3.0]
21. ICANN / WIPO Domain Name Disputes: Procedures And Analysis  [1.0]
22. IP Litigation Issues: Trade Secrets, Patents, Copyrights and
Trademarks  [3.0]
23. Identity Theft -- Strategies for the Information Age  [1.5]
24. Improve Your Legal Writing: Ten Plain-Language Tips  [1.0]
25. Law Practice Management: How to Enhance Your Clients' Interests when
Dealing with the Media  [1.0]
26. Legal Ethics for Corporate and In-house Counsel [3.0 ETHICS (Audio
included)]
27. Legal Writing: Meet the New Citation Manual  [1.0]
28. Legal Writing: Ten Tips for Better Letters  [1.0]
29. Legal Writing: Eight Tips for Successful Motions  [1.0]
30. Legal Writing: Eleven Tips for Formal Agreements  [1.0]
31. Litigating the Link Between Cellular Phones and Cancer  [2.0]
32. Living Trusts . Making a Wise Decision  [1.0]
33. Malpractice Avoidance for Probate Lawyers: Common Non-Tax Estate
Planning Errors [1.0 ETHICS]
34. More Selected Ethical Issues Facing Texas Litigators [1.0 ETHICS]
35. Nobody's Bulletproof: Legal Ethics and Legal Malpractice Issues [3.0
ETHICS (Audio included)]
36. Offshore Trusts: Uses for Asset Protection Purposes  [3.0]
37. Presuit Discovery and Discovery from Nonparties in Texas Litigation
[1.0]
38. Privacy Issues in the Workplace: Internet Porn, E-mail, Chat Rooms
and more  [2.0]
39. Professionalism in Corporate Litigation: From Discovery Through
Appeal [3.0 ETHICS]
40. Punitive Damages: Preparing Plaintiff's and Defendant's Case for the
Punitive Damage Phase  [3.0]
41. Selected Ethical Issues in Intellectual Property Licensing [1.0
ETHICS]
42. Selected Issues in Ethics for California Lawyers [2.0 ETHICS]
43. Selected Issues in Ethics for Texas Lawyers [3.0 ETHICS]
44. Substance Abuse and Depression: An Overview for Lawyers [1.0 ETHICS]
45. Summary of Texas Legal Malpractice Law [1.0 ETHICS (Video included)]
[1.0]
46. Survival Training for Domestic Violence (For Legal Assistants and
Legal Secretaries Only)
47. Texas Law of Eminent Domain  [3.0]
48. Texas Real Estate Law - Recent Case Update  [3.0]
49. The ABC's of Appellate Practice for California Litigators  [1.0]
50. The Complete Internet Seminar for Lawyers  [3.0]
51. The New World of Electronic Commerce: Business to Business (B2B)
[Audio included]  [1.0]
52. The Organizational Client: Attorney-Client Privilege and the
No-Contact Rule [3.0 ETHICS]
53. The Rewards of Decency [2.0 ETHICS]
54. Weblaw: Legal Issues Involved with the Design and Hosting of Websites
on the Internet  [3.0]
55. Wills, Estates, and Trusts: Case Law Developments in Texas - 1999
[3.0]
56. Wills, Estates, and Trusts: Case Law Developments in Texas - 2000
[2.0]

For more details on any of these seminars, please drop by our site:

http://www.CLEonline.com

You can easily register online for any of these seminars at any time of
day or night using our secure online registration system.  All of these
seminars are available through the last day of this month.

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

HOUSTON BAR CLE SEMINARS ON CLEONLINE.COM!...

We are very pleased this month to announce that CLEonline.com and the
Houston Bar Association (HBA) have entered into an agreement to bring a
number of their CLE seminars online via our Web site.  Two of these new
HBA seminars are available this month, and many more will be offered on
our site in the months to come.

The Houston Bar produces a large number of excellent CLE programs each
year on a wide variety of subjects.  Through this new agreement, we will
now be able to bring many of these HBA seminars online and make them
available to all CLEonline.com users.  These seminars will feature
streaming video from the live HBA seminars as well as the written
materials.

If you are a member of a Bar association or other law-related group that
sponsors CLE seminars and your organization would be interested in
bringing your CLE seminars online just like the Houston Bar Association,
we would be delighted to talk with you and your group.  This is a
great way to extend the reach of your association's CLE seminars and
create a new source of revenue for your Bar association with no
additional costs.   If your organization would be interested in taking
advantage of this, please give us a call at 1-800-522-7566, and we can
provide you with all the details.

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

NEW SEMINARS FOR THIS MONTH...

The following are brief descriptions of our new seminars for this month.
Full details on each are available on our Web site:

--> Identity Theft -- Strategies for the Information Age

This is the first of the new HBA seminars being offered and this is a
topic of growing interest for all attorneys and their clients.  This
seminar will address what identity theft is, how thieves can get personal
information about you or your clients, how this information can be
misused, and the statutory responses available.  You can watch and listen
to the same program that the HBA presented on this topic earlier this
year.  Scott Durfee of the Harris County DA's Office will serve as the
moderator.  This seminar is accredited for 1.5 hours of CLE.

--> Appearing Before the Texas Board of Pardons and Paroles - or - 'How
to Deal with a Three-Headed Monster'

Another of the new HBA seminars being offered this month is this new
criminal law program.  This seminar will provide attorneys with
procedural information from the parole revocation hearing through the
parole process in Texas. You can watch and listen to the same program
that the HBA presented on this topic earlier this year.  James Randall
Smith, who is a Houston practitioner who focuses on representing clients
in the parole process, will serve as moderator.  This seminar is
accredited for 1.5 hours of CLE.

--> Law Practice Management: How to Enhance Your Clients' Interests when
Dealing with the Media

Together with another of our CLE seminar partners, the Center for
Continuing Education (CCE) in California, we are pleased to present this
new online CLE seminar on dealing with the media.  This seminar will
review and discuss issues in dealing with the media that all lawyers may
face from time to time in representing their clients.  It features the
streaming audio from a live CLE seminar on this topic that was originally
conducted in California by CCE that features Monica Bay (Editor-in-Chief
of American Lawyer Media's Law Technology News) and Martha Sullivan (of
LegalVoice.com).  This seminar is accredited for 1.0 hour of CLE credit.

--> The Rewards of Decency [2.0 ETHICS]

Together with Live Oak CLE (another of our regular CLE provider
partners), this new 2-hour ethics seminar deals with the subject of
'professionalism' in the legal profession.  This seminar features
streaming audio from a live CLE seminar on this topic that was originally
conducted by Live Oak CLE in December.  One of the panelists from the
live seminar, Ruth Kollman, Esq. of Dallas, will serve as the moderator
for this new online seminar.   This seminar is accredited for 2.0 hours
of CLE credit, all in legal ethics.

--> Survival Training for Domestic Violence (NALS)

NALS (a provider of CLE for legal assistants and legal secretaries) is
providing this new online seminar on domestic violence.  This seminar
features streaming audio of a live presentation on this topic that was
presented at a NALS educational conference.  This seminar is allowed 1.0
hour of CLE credit for members of NALS. Dianna C. Roberts of NALS will
serve as the moderator for this seminar. (NOTE: This seminar is NOT
accredited for CLE for attorneys.)

--> Additional Ethical Issues Facing In-House Counsel [3.0 ETHICS]

In another in his excellent series of online CLE ethics seminars, David
Hricik, Esq. of Austin has prepared this new legal ethics seminar
designed to review a variety of legal ethics issues facing attorneys who
practice as in-house counsel.  This seminar is accredited for 3.0 hours
of CLE credit, all in the area of legal ethics.

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

Thanks again for your continued interest in and support of CLEonline.com.
We greatly value you as a registered user of our service, and we would
very much appreciate it if you could please spread the word about our
award-winning CLE site to other attorneys in your firm, company or local
area.

Best Regards,

Mike De La Rosa, Esq.

_______

Michael De La Rosa, CEO          ------------------------------------
Voice: (512) 310-9618
FAX:   (512) 310-1720                     CLEonline.com
P.O. Box 1897
Round Rock, TX 78680-1897       ...delivering CLE to YOUR desktop!
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http://www.CLEonline.com         ------------------------------------


Tom,

Attached below is a revised draft contract and an updated Annex A that should address your legal department's concerns.  If there are additional enquiries, Mr. Graham should speak directly to Sara Shackleton at 713-853-5620 or Brent Hendry at 713-853-7124 in our legal department.

Thanks,

Scott Griffin

Scott F. Griffin
Enron Global Markets, LLC
1400 Smith Street
Houston, TX 77002-7361

Office:     (713)-853-0973
Mobile:    (713)-503-5686


Tim, I understand and will comply with these requests.


Attached is the final list for name changes and mergers for August 2000.

The name change overlays were done on the dates indicated.

The ERMS short names will be changed TOMORROW, August 23, in the afternoon.
If there are any objections please contact me or Bill Hare at  X3-9249.

Record inactivations will be done on the afternoon of Sept, 1.

Please call Cheryl for questions or comments X3-3103


Mr. Jess K. Hyatt
Director
Enron Transportation Services

Dear Mr. Hyatt:

Powerful new forces are transforming the North American gas and power
industry, bringing considerable volatility and uncertainty to investment
and strategy. Questions relating to prices, security, geopolitics, the
global economy, and environmental concerns are forcing reconsideration
of basic assumptions and plans.

To address these questions and concerns, Cambridge Energy Research
Associates (CERA) announces a timely new multiclient study, "New
Realities, New Risks: North American Power and Gas 2020."

In an online interview CERA Senior Director Lawrence J. Makovich
presents a brief overview of major issues to be addressed in the study.
To hear more information about the study, please access the interview on
our website at http://www.cera.com/mc?c=68386&p=1044 .

Using CERA's scenario planning methodology, "New Realities, New Risks"
will present plausible alternate paths to the future of power and gas
markets in North America over the next 20 years. The Study will provide
useful tools for evaluating corporate strategies and investments as well
as an integrated assessment of gas and power market analyses.

The study will address key issues including
*What levels of gas and power prices are sustainable?
*How will the current wave of power plant and gas pipeline
infrastructure development shift North American energy dynamics?
*What opportunities, risks and challenges face those involved in the
industry?
*How will technological developments affect future gas and power
markets?
*Will the role of government expand or contract in the energy industry?
*What will be the cost and value of increased energy security?
*Who will be the winners and losers in each scenario?

For complete details of the study, including deliverables and proposed
study content, please visit our website at
http://www.cera.com/offerings/details/1,1504,CID2299,00.html.

In the traditional CERA format, the study will start with a kick-off
workshop. Exclusively hosted for study participants(*), the kick-off
workshop will take place in early January at a location to be announced.

To obtain your confidential study prospectus, please contact Noelle
Hernandez-Bullrich at nhernandez@cera.com or via phone at +1 617 498
9148.
You may also contact Ron Kapavik at rkapavik@cera.com or via phone at +1
617 441 2629 with any specific questions you have about the study.

Thank you for your consideration, and we look forward to your
participation in this study.

Sincerely,

Noelle Hernandez-Bullrich
Associate, North American Energy

(*) Special discount for enrollment in the Study prior to December 31st.

************************************************************
Our relationship with you is very important to us.  Should you
prefer not to receive e-mail notifications from CERA, please send
a reply to this message with "DoNotEmail" as the subject line of
your message. ( mailto:info@cera.com?subject=DoNotEmail )
************************************************************


Thank You Dana!!

----- Original Message -----
From: <Dana.Davis@enron.com>
To: <abraham5@flash.net>
Sent: Monday, December 04, 2000 10:06 AM
Subject: New Number

> Bonnie did you get this message from Pastor Wallace?
> ---------------------- Forwarded by Dana Davis/HOU/ECT on 12/04/2000 08:47
> AM ---------------------------
>
>
> "Thomas E. Wallace" <thomas456@juno.com> on 12/02/2000 04:53:07 PM
>
> To:   abraham5@frash.net
> cc:   jwashing@mail.mdanderson.org, denise.moore@dhs.state.tx.us,
>       Dana.Davis@enron.com
> Subject:  New Number
>
>
> Hello Rayford and Bonnie,
>      I have just about completed the process of moving and I've
established
> a
> new home telephone number that will be available for the church and
> public usage.  The new number is 281-438-9638.  If anyone needs to
> contact me this is the number that they will be able to call.  Of course,
> for the next two weeks I will not be at that number over night because
> I'm waiting for the wedding date.  I will lease a suite for that two week
> period until the nuptuals are done.  I will also frequently check for
> messages so that if I'm not at the number when someone calls I can at
> least respond in a timely manner.  Feel free to call and leave a message
> for me at any time that you need.
>      Thanks for all that the two of you are doing for the Lord and the
> church.  I look forward to a new walk with Christ together.
>
>
>
>
> ________________________________________________________________
> GET INTERNET ACCESS FROM JUNO!
> Juno offers FREE or PREMIUM Internet access for less!
> Join Juno today!  For your FREE software, visit:
> http:dl.www.juno.com/get/tagj.
>
>
>
>
>
>


In BP Amoco's response, they obviously do not understand the relationships
between the parties.

(1)  There is no reason to amend the Seacrest easement with BP Amoco, as the
224' of 12" pipeline installed by HPL has nothing to do with that easement or
Seacrest, except that it is connected to HPL where the Seacrest easement
stops.
(2)  HPL is not seeking an assignment of the Seacrest easement with BP Amoco,
as HPL is not acquiring the Seacrest pipeline and has no interest in doing
such at this point in time.
(3)  Because of our position on #1 and #2 above, we have no need to address
their language.
(4)  HPL is not paying BP Amoco $50K, especially in light of their request
under #5.
(5)  HPL is not altering it 1942 easement without some means of compensation
(other easement right)  as was discussed in the last meeting.  I do not see
anything in their response that addresses this issue.
(6)  HPL has nothing to do with the abandoned and unused portions of the
Seacrest pipeline to Dow or Tejas, and certainly would not be in a legal
position to represent such abandonment for something it does not own.
(7)  This is fine if we can reach settlement.
(8)  This is fine if we can reach settlement.

In light of the AEP transaction closing Friday, should Dan now become our
point person on this and respond?


Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Get personalized email addresses from Yahoo! Mail - only $35
a year!  http://personal.mail.yahoo.com/
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Message-ID: <002d01c098dc$e115c020$9ee4e5d0@default>
From: "courtney & chris" <cmbcjm@olypen.com>
To: "jeff rood" <bigpooh@u.washington.edu>
Cc: "Darrin Quillen" <dquillen@aracnet.com>,   "Sara Mosher"
<saramosher@aol.com>, "Lindsey & Marie" <marlin@olypen.com>,   "dg brown"
<browndg@olypen.com>, "Dave & Lisa" <dmlrm@msn.com>,   "Cindy"
<Headslap2@cs.com>, "Chuck & Mary Kay Baldwin" <chbjr37@tscnet.com>,   "Alex"
<AHiggins@peacehealth.org>
Subject: Fw: Dad buys the clothes
Date: Sat, 17 Feb 2001 04:26:26 -0800
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A good Saturday  morning chuckle.
?
----- Original Message -----
Sent: Monday, February 12, 2001 1:53 PM
Subject: Fw: Dad buys the clothes

?
Sent: Sunday, February 11, 2001 10:14 AM
Subject: Dad buys the clothes

This is another download I HAD to send. ?Never let a  Dad buy your children's
clothes.

[IMAGE]
 - Kid_Shirt2.jpg


Attached are summaries of three recent SDG&E advice letters.? Some  may be of
interest, but there is no onbvious protest material.
?
Dan
 - 11-28-00 SDG&E AL Summary Chart.doc


----- Forwarded by Jeff Dasovich/NA/Enron on 02/15/2001 11:31 AM -----

	"Ronald Carroll" <rcarroll@bracepatt.com>
	02/15/2001 11:12 AM

		 To: "Mark Evans" <mevans@bracepatt.com>, <gfergus@brobeck.com>,
<rreilley@coral-energy.com>, <acomnes@enron.com>, <dfulton@enron.com>,
<jdasovic@enron.com>, <jhartso@enron.com>, <jsteffe@enron.com>,
<mary.hain@enron.com>, <smara@enron.com>, <snovose@enron.com>,
<hao@quinnemanuel.com>, <gackerman@wptf.org>
		 cc:
		 Subject: Fwd: LA Times - Creditors Chafe at State's Pace on Power Crisis

----- Message from "Tracey Bradley" <tbradley@bracepatt.com> on Thu, 15 Feb
2001 09:12:01 -0600 -----
To:	"Paul Fox" <pfox@bracepatt.com>
cc:	"Andrea Settanni" <asettanni@bracepatt.com>, "Charles Ingebretson"
<cingebretson@bracepatt.com>, "Charles Shoneman" <cshoneman@bracepatt.com>,
"Deanna King" <dking@bracepatt.com>, "David Parr" <dparr@bracepatt.com>,
"Jeffrey Watkiss" <dwatkiss@bracepatt.com>, "Gene Godley"
<ggodley@bracepatt.com>, "Justin Long" <jlong@bracepatt.com>, "Kimberly
Curry" <kcurry@bracepatt.com>, "Michael Pate" <mpate@bracepatt.com>, "Ronald
Carroll" <rcarroll@bracepatt.com>
Subject:	LA Times - Creditors Chafe at State's Pace on Power Crisis
Creditors Chafe at State's Pace on Power Crisis

By NANCY RIVERA BROOKS, DAN MORAIN, Times Staff Writers

     The California energy crisis is hurtling along two tracks--one the slow
lane of legislative politics, the other the hyper-speed autobahn of high
finance.

     As Stage 3 electricity alerts and billion-dollar debts mount, some
travelers on those intersecting byways are strapping themselves in for what
they see as a looming pileup, perhaps at the doors of the U.S. Bankruptcy
Court.

     Wall Street is becoming increasingly irritated with the deliberative
pace of the California Legislature and Gov. Gray Davis and his months of
unfulfilled vows of a remedy.

     Those owed money by Southern California Edison and Pacific Gas &
Electric said Wednesday that they cannot not wait forever to be paid.

     "The pace of progress is not sufficient," said Joe Bob Perkins,
president of Reliant Energy, a major power supplier in the state. "Our
accounts receivable from the past aren't being taken care of and the bleeding
is growing."

     In Sacramento, no immediate first aid is on the way.
     Davis, who says he will announce his latest plan to solve the utilities'
financial meltdown on Friday, left little doubt on Wednesday that he intends
to press for a state takeover of the massive electricity transmission system,
despite its huge value to the utilities. But key legislators predict that, no
matter what the governor proposes, they are at least two weeks away from
passing legislation to improve the situation.

     Bob Foster, the Edison official who oversees governmental affairs, said
the question of bankruptcy is "a day-to-day thing. There are signs that
creditors are getting increasingly nervous, increasingly impatient."

     "We were told last week that there will be a proposal from the
administration, and we're still waiting," Foster said.

     Senate President Pro Tem John Burton (D-San Francisco) said that if
Davis and lawmakers cannot resolve the matter within the next two weeks, "we
aren't going to be able to solve it, and it will be in other people's hands."

     Edison and PG&E have said they do not want to file for bankruptcy
protection and will do so only if forced by their creditors. A prelude to
bankruptcy, the formation of creditors committees, already has begun. Each
utility can be forced into bankruptcy by as few as three creditors owed as
little as $10,775 in unsecured debts, bankruptcy experts say.

     "We respectfully believe that the state has less time than they might
otherwise think," Gary Dunton, president and chief executive officer of MBIA
Inc., a firm that insures $1.3 billion of the utilities' debt.

     "If someone called me an hour from now [to announce a bankruptcy
filing]," Dunton added, "I wouldn't be surprised. We have been very clear
that we are frustrated with the timing, and apparent lack of urgency.

     "If you have 100 people cooking a stew, it may never be edible."
     Not everyone, however, believes that the prolonged legislative process
will make much difference in the long run, despite the howls from creditors'
and utilities.

     "I don't sense that there is a sense of urgency," said Assemblyman
George Runner Jr. (R-Lancaster). Runner, like other legislators, pointed to
repeated deadlines that have come and gone without a bankruptcy, and said:
"Crying wolf can go so far."

     Some legislators blame Davis for the delays.

     "The Legislature will pass enabling legislation. But people are waiting
to hear from [the governor's] corner office," said Assembly Republican leader
Bill Campbell of Villa Park, who has not conferred with Davis for a week. "We
think it is serious. But it is a frustrating situation."

     Some lawmakers in Sacramento believe that not all the legislative gears
are in sync, thus complicating progress. They say Davis has positioned
himself politically so that the Legislature will carry the brunt of the blame
when potential rate increases come into effect.

     "The governor is out there saying no more rate increases and that he's
on the side of consumers, while we have to do the dirty work," fumed an
Assembly Democrat, who requested anonymity out of fear that his comments
would only inflame an already tense relationship between the executive and
the Legislature.

     That irritation grew among Assembly Democrats when a poll they recently
commissioned showed the Legislature's approval rating had dropped 25 points,
while Davis' rating remained relatively high. The poll, conducted in late
January by the Sacramento firm Moore Methods, showed Davis with a 45%
approval rating, compared with only 25% for the Legislature.

     Meanwhile, the cost to the state treasury of buying power is rocketing
toward $2 billion, as the Department of Water Resources buys electricity
because utilities are no longer able to borrow money.

     "Giving [away] $2 billion that could have gone to build schools,
housing, highways and help lower taxes for consumers . . . is a moral
outrage," said Harvey Rosenfield of the Foundation for Taxpayer and Consumer
Rights.

     In the meantime, the electricity bills--and defaults by the two
utilities--continue to swell with no end in sight.

     California's power plant owners, already frustrated by the hundreds of
millions of dollars they haven't been paid by the state's two biggest
utilities, fear that the debt is growing by millions of dollars a day--even
after the state ponied up taxpayers money to buy electricity for the
utilities. That's because power purchasers for the state are refusing to pay
for all of the electricity that grid operators order on a last-minute basis
to prevent blackouts.

     Growing anxious over the slow pace of progress in Sacramento, generators
are looking for help from the courts and from state and federal regulators.
They won a victory Wednesday when federal regulators ruled that power
suppliers cannot be forced to bear the risk that they won't get paid when
grid operators order them to supply emergency power.

     Davis said Wednesday that the ongoing snags in buying power are being
worked out. The lingering problem of the utilities' estimated $12.7 billion
in electricity debts, Davis said, can be fixed by the state's purchase of the
transmission grid. The money paid to the utilities for the grid--which would
have to be negotiated--plus lease payments the state would make to the
utilities to continue operating the 32,000 miles of high-voltage wires, would
infuse the companies with enough cash to restructure their debt.

     "We're talking about a financial transaction that has value to both
sides," Davis said. "It has become increasingly clear to me that we cannot
accomplish that without purchasing the transmission lines."

     Although Davis voiced his support of taking over the utilities'
moneymaking transmission system, he has not conferred with companies'
executives for a week. In fact, they learned of it from press accounts.

     "It's all just a giant game of chicken," a top utility executive said,
asking that he not be identified. "But I'm worried that the administration is
going to overplay its hand and leave us with no options."

* * *
     Times staff writers James F. Peltz, Nicholas Riccardi, Stuart
Silverstein, Rone Tempest, Nancy Vogel and Jenifer Warren contributed to this
story.


NESA/HEA Member's :

Attached is the Offshore Energy Center Brown Bag flyer.  The OEC consists of
the Ocean Star, a retired offshore jack-up rig and a museum in Galveston,
TX.  This brown bag also includes happy hour!!  Hope to see you there.

Date:		May 17th, 2001
Time:	11:30 am to 5 pm

 <<OEC01.doc>>

Please call me or Tracy Cummins at (713) 856-6525 with any questions.

Thanks,
Lana Moore
Director of Education

 - OEC01.doc


Wanted to give you a heads up to these flexible physical deals that might
involve your desks via EOL in the near future. We already have one in the
East.  I stressed to the Sitara/EOL folks the importance of adding comments
to the term sections of these baseload and term tickets so we know what is
happening.  One side of these buy/sell or exchange deals will be ratable and
the corresponding partner ticket will have the optionality.Comments will
include the corresponding deal number, that it is in fact a buy/sell or
exchange deal and the delivery time period(3,5 or 10 days) that the
counterparty desires.
I hope this helps...THANKS!

---------------------- Forwarded by Victor Lamadrid/HOU/ECT on 06/27/2000
02:51 PM ---------------------------

	From:  Thomas Engel                           06/26/2000 11:49 AM

To: Linda S Bryan/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Larry Joe
Hunter/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT
cc: Bob Bowen/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT
Subject: Flexible Physical US Nat Gas Products on EnronOnline

Can you all meet this afternoon or tomorrow to discuss this.
Call me 3-1488.

---------------------- Forwarded by Thomas Engel/HOU/ECT on 06/26/2000 11:42
AM ---------------------------

	From:  Scott Mills                           06/23/2000 09:51 AM

To: Thomas Engel/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Karen
Lambert/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT
cc:
Subject: Flexible Physical US Nat Gas Products on EnronOnline

Got any ideas on how this transaction should look.  This looks like a monthly
volume that would be further refined to daily on the expected volumes once
the counterparty has made their decision  (I would imagine logistics will be
the one communicating with the counterparty).  We probably need EOL to
indicate whether it is a 3, 5, 10 day delivery cycle and then indicate this
as comments.

Linda/Karen -what are your thoughts on how separate GTC would work on this.

If we could all do a little homework.  I will get something scheduled for
next week to discuss further.

SRM (x33548)
---------------------- Forwarded by Scott Mills/HOU/ECT on 06/23/2000 09:37
AM ---------------------------
Dale Neuner   06/23/2000 08:40 AM

To: David Forster/Corp/Enron@Enron, Sheri Thomas/HOU/ECT@ECT, Scott
Mills/HOU/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT,
Jeffrey T Hodge/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT, Imelda Frayre/HOU/ECT@ECT,
Larrissa Sharma/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Frank L
Davis/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT,
Jefferson D Sorenson/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Larry Joe
Hunter/HOU/ECT@ECT, Jennifer Blay/HOU/ECT@ECT
cc: Scott Hendrickson/HOU/ECT@ECT
Subject: Flexible Physical US Nat Gas Products on EnronOnline

We are positioning ourselves to release a new Product Type that we will refer
to as a Flexible Physical Gas product. Legal is in the process of drafting a
GTC and Product Type description that will be used with this Product Type. I
will start the building process once Legal provides the GTC and Product Type
description; but in the interim, here's a broadstroke description of how the
transaction works:

Party A and Party B exchange gas during the month of June 2000.

Party A buys 10,000 MMBtu per day (or 300,000 total MMBtu) at TCO Pool Index

Party B has the right to notify Party A of when Party B wants to take
delivery during the month of June, and may take delivery in one of three
forms: 3-day delivery, 5-day delivery, or 10-day delivery. The gas nominated
for each such day would be a percentage of the total 300,000 MMBtu (i.e.; If
Party B chooses 5 days for nomination, Party A would deliver 20% of the
300,000 MMBtu on each of those 5 days for a total nom of 100%).  Party B pay
TCO Pool Index PLUS a premium.

I understand that this type of transaction is currently done
over-the-counter. Scott Mills has previously issued an explanatory e-mail of
Sitara concerns and we should begin to address those issues.

Bjorn - if you could ask someone to prepare a Sigma Factor in advance, then
my turn around time to for the Product Type should be reduced. Also, due to
the varying 'optionality', do you think these three different products will
require three different Product Types?

Please feel free to call if you have any questions.

Dale
3-9746


How did it go with Renshi Zhang and Bill Koures?  Renshi has two offers
already.  If you want to persue him, I would recommend moving quickly.
Regards,

Marshall Brown
Vice President
Robert Walters Associates
Tel: (212) 704-0596
Fax:(212) 704 - 4312
mailto:marshall.brown@robertwalters.com
http://www.robertwalters.com

> -----Original Message-----
> From: Vince.J.Kaminski@enron.com [SMTP:Vince.J.Kaminski@enron.com]
> Sent: Monday, March 12, 2001 6:36 PM
> To: Marshall.Brown@robertwalters.com
> Cc: Vince.J.Kaminski@enron.com
> Subject: Re: Resume
>
>
> Marshall,
>
> I am catching up with my mail. We would like to talk to this candidate as
> well
> (phone interview).
>
> Vince
>
>
>
>
>
> Marshall Brown <Marshall.Brown@robertwalters.com> on 02/21/2001 12:36:39
> PM
>
> To:   Vince Kaminski <vkamins@ect.enron.com>
> cc:
> Subject:  Resume
>
>
> Vince,
>      This candidate would be interested in speaking with you.
> Regards,
>
> Marshall Brown
> Vice President
> Robert Walters Associates
> Tel: (212) 704-0596
> Fax:(212) 704 - 4312
> mailto:marshall.brown@robertwalters.com
> http://www.robertwalters.com
>
>
>  <<KOUR_VAS.DOC>>
>
>
> **********************************************************************
> CAUTION: Electronic mail sent through the Internet is not secure and could
> be intercepted by a third party.
>
> This email and any files transmitted with it are confidential and
> intended solely for the use of the individual or entity to whom they
> are addressed. If you have received this email in error please notify
> the system manager.
>
> This footnote also confirms that this email message has been swept by
> MIMEsweeper for the presence of computer viruses.
>
> **********************************************************************
>
> (See attached file: KOUR_VAS.DOC)
>
>  << File: KOUR_VAS.DOC >>


At the close of our very productive meeting yesterday, I promised to
circulate a brief update on California's electricity demand trends; it
appears below as an attachment at the close of a note I circulated
within NRDC earlier today, which I thought would be of interest:

Today should have been a severe test for the California grid:  we had
the third straight day of high temperatures throughout much of the state
and the Southwest (weather forecasts earlier in the week had prompted
warnings of rolling blackouts).  As I write this at 4 pm on Thursday,
average temperatures throughout the entire PG&E system are above 90
degrees.  But peak loads for the day will not reach 40,000 Megawatts,
and reserve margins are comfortable (about 15% at the peak hour).
California's last rolling blackouts occurred six weeks ago (and those
were very modest in scale).  It is far too soon to declare victory, but
these are hopeful signs, and they will help relieve pressure on the
Governor to crank up dirty emergency generators.  NRDC's updated
assessment of recent CA electricity consumption trends (attached again
just in case you've lost it) indicates that demand reductions clearly
are a big part of the reason why things are looking up.  There are
plenty of reasons for continued caution:  the entire West can get much
hotter, hydropower conditions in the Northwest remain awful,  and
complacency could shift demand back up quickly (much of the recent load
reductions represent reversible voluntary actions).

You can track the daily drama in detail at
http://www.caiso.com/outlook.html.

 - californiaconsumptiontrendsrevised.doc


FYI
---------------------- Forwarded by Evelyn Metoyer/Corp/Enron on 02/20/2001
02:57 PM ---------------------------

"Chnell Scott" <chnells@amerexenergy.com> on 02/20/2001 02:51:52 PM
To: <Evelyn.Metoyer@enron.com>
cc:

Subject: RE: 312189-correction

This was put in wrong.  I'm going to send you a void on this one.

Thanks!

Chnell Scott
Amerex Natural Gas & Power
Confirmation Administration
Accounting Associate
(281)340-5205 (281)634-8888 fax
ChnellS@amerexenergy.com

-----Original Message-----
From: Evelyn.Metoyer@enron.com [mailto:Evelyn.Metoyer@enron.com]
Sent: February 20, 2001 2:31 PM
To: Inquiry@amerexenergy.com
Subject: 312189-correction

---------------------- Forwarded by Evelyn Metoyer/Corp/Enron on 02/20/2001
02:31 PM ---------------------------

Evelyn Metoyer
02/20/2001 02:29 PM

To:   Inquiry@amerexenergy.com
cc:

Subject:  312189

deal 312189b
We do not recognize this deal neither does Coral Power.

Thanks!!


Rick

Can you include me on your distribution list re. Nepool and the ICAP product.

Thanks


Agreed - sorry I had thought Lavo sorted this out.  As we understand, Caroline wants to work in Manhattan and therefore we need to look at those offices.

Tammy Shepperd is the person to contact.

Tammy can you please sort out Caroline - same issues as Mike McDonald but New York.

 -----Original Message-----
From: 	Milnthorp, Rob
Sent:	Wednesday, February 06, 2002 10:58 AM
To:	Kitchen, Louise
Cc:	Calger, Christopher F.; Abramo, Caroline; Forster, David
Subject:	New York

Louise, I talked in detail with Caroline this am. We need to identify where Caroline is going to reside. I understand that UBS has two operations in NY - I think you and Hutchins need to decide what makes the most sense (ie synergies). It is critical that we get this resolved so that Caroline has some infrastructure around her.


I am still looking for a appropriate Caledonia model.  I have a couple of
finance models, but I don't think those will work.  I will send something
today.  Thanks
Ben