[IMAGE]
 Battle your friends for glory in Planters Crunch Time -- the first-ever football game played via e-mail! Featuring graphic, play-by-play action, Planters Crunch Time is fast, fun, and FREE! Kickoff Now!   Remember the NFL Hall of Famer's, Superbowl Champs and your favorite Teams or Players. Save 10%  off NFL Memorabilia @ MVP.com. Enter coupon code HIGH10PC  at checkout to receive this exclusive offer. Ends 10/23/01.  Attention Fantasy Fans!  Subscribe to The Sporting News  now for a low $.99 per issue AND get a FREE Stainless Steel Thermo-Bottle! HURRY!    Brought to you by   Sponsorship Bar You are receiving these e-reports because you have signed up for CBS SportsLine.com Fantasy Football.  To customize, reschedule, or turn off these reports please  click here    Summary Standings  [IMAGE]Big 12 Division Team W L T Pct Back Strk Div Wks PF Back PA The Guzzlers  5 1 0 0.833 0.0 W3 4-1-0 1.0 756.0 65.0 686.0 Meximullets  4 2 0 0.667 1.0 W1 3-2-0 1.0 821.0 0.0 769.0 The Lie Downs  3 3 0 0.500 2.0 W2 2-3-0 1.0 808.0 13.0 781.0 oops, I did it again  3 3 0 0.500 2.0 L1 3-2-0 0.5 778.0 43.0 749.0 One Man Show  2 4 0 0.333 3.0 L3 2-3-0 1.0 702.0 119.0 752.0 Thrill Kill Cult  1 5 0 0.167 4.0 L2 1-4-0 0.0 641.0 180.0 834.0 SEC Division Team W L T Pct Back Strk Div  Wks PF Back PA The Fat Bastards  5 1 0 0.833 0.0 W1 4-1-0 0.0 810.0 11.0 674.0 The Snake Pit  3 3 0 0.500 2.0 L1 3-2-0 0.5 793.0 28.0 812.0 Who's Yo Daddy  3 3 0 0.500 2.0 W2 2-3-0 0.0 784.0 37.0 787.0 The Executioners  3 3 0 0.500 2.0 W1 2-3-0 0.0 757.0 64.0 735.0 North Blvd Nutwhackers  2 4 0 0.333 3.0 L2 2-3-0 1.0 793.0 28.0 789.0 The Nice Machine  2 4 0 0.333 3.0 L1 2-3-0 0.0 718.0 103.0 793.0  Scoring Statistics  [IMAGE]     [IMAGE] Select Team   [IMAGE]       [IMAGE] Please select a team above and click on GO.      Player Updates NFL Reports  [IMAGE]Latest NFL Player News  Ricky Watters , RB SEA - North Blvd Nutwhackers Updated 10/23/01 According to the Tacoma News Tribune, Seahawks Head Coach Mike Holmgren says that Watters will return to the starting lineup as soon as he's healthy, which could be another month or longer. "We'll cross that bridge when we come to it," Holmgren said. "I would be surprised if I didn't insert Ricky back into the lineup. He was our best player when he got hurt. Shaun (Alexander) has come in and played well. But I would suspect that when Ricky can play, he'll play again." If you have the roster room, it would be a good idea to stash both backs on your team to ensure you're safe if Watters takes the job back from Alexander dow! n ! the stretch.  Trent Dilfer , QB SEA - Free Agent Updated 10/23/01 Dilfer was unable to practice on Monday due to a groin injury. He has lost the starting QB job to Matt Hasselbeck, and shouldn't be on any Fantasy rosters at this point.  Matt Hasselbeck , QB SEA - Free Agent Updated 10/23/01 Hasselbeck will be the Seahawks' starting quarterback for Sunday's game against Miami, according to the Seattle Post-Intelligencer. He replaces Trent Dilfer, who stood in for Hasselbeck as he was sidelined with a pulled groin. This isn't a very favorable matchup for Hasselbeck fro! m ! a Fantasy perspective, so don't use him this week.  Wayne Chrebet , WR NYJ - Who's Yo Daddy Updated 10/23/01 The Jets have listed Chrebet as questionable for next Sunday's game at Carolina. He will have an MRI on Tuesday to determine the extent of the concussion he suffered Sunday against the Rams.  Dedric Ward , WR MIA - Free Agent Updated 10/23/01 Ward missed Monday's practice due to a foot injury. He is expected to miss Sunday's game at Seattle, and isn't a useful Fantasy player at this point in the season.  Lamar Smith , RB MIA - The Lie Downs Updated 10/23/01 Smith did not practice Monday due to an ankle injury. He is still expected to play Sunday in Seattle, so don't be afraid to use him this week.  Marvin Minnis , WR KC - North Blvd Nutwhackers Updated 10/23/01 Chiefs Head Coach Dick Vermail said Monday that Minnis might start ahead of Chris Thomas in Thursday's game against Indianapolis. We don't recommend you use either receiver despite the fact that the Colts' secondary is hardly imposing. Neither player is going to be a clear-cut starter this week.  Jerome Pathon , WR IND - The Snake! P! it Updated 10/23/01 Pathon might miss his third straight game Thursday at Kansas City due to a sprained right foot. Don't use him this week.  Terrence Wilkins , WR IND - Free Agent Updated 10/23/01 Wilkins is questionable for Thursday's game at Kansas City due to broken ribs. We don't recommend you use him in a Fantasy league this week.  Terrell Davis , RB DEN - Meximullets Updated 10/23/01 Davis is still targeting Sunday's game against New England as his comeback game from arthroscopic knee surgery, but the Broncos have not decided whether they will activate! h! im. He will work in practice this week and the Broncos hope to know by Wednesday whether Davis can play. We don't recommend you use Davis in a Fantasy league unless it's absolutely certain he's Denver's starting running back and is 100 percent healthy.   Warrick Dunn , RB TB - One Man Show Updated 10/23/01 According to the St. Petersburg Times, Dunn doesn't have a hamstring strain, as was originally reported. Dunn won't practice until late in the week, however, but he is expected to play on Sunday against Minnesota.   Duce Staley , RB PHI - The Fat Bastards Updated 10/23/01 Staley started Monday's game against the N.Y. Giants, but he didn't finish it. Staley carried the ball just three times for 22 yards, and was spelled late in the game by rookie Correll Buckhalter, who gained 34 yards on! 1! 1 carries late in the game. At this point, it's tough to depend on Staley to post consistent Fantasy numbers, so consider reserving him if your roster allows for a solid replacement.   Joe Nedney , K TEN - Free Agent Updated 10/23/01 Nedney suffered a neck injury in Sunday's game but is expected to play this week.   Erron Kinney , TE TEN - Free Agent Updated 10/23/01 Kinney will be listed on the injury report because of a calf injury. However, he is expected to play in this week's game.   Kevin Dyson , WR TEN - Meximullets Updated 10/23/01  Dyson is recovering from a thumb injury but is expected to play in Monday's game against the Steelers. He is expected to participate in practice.  Eddie George , RB TEN - Thrill Kill Cult Updated 10/23/01 George suffered a thumb injury in Sunday's game. He is expected to play in this week's game.   Steve McNair , QB TEN - North Blvd Nutwhackers Updated 10/23/01 McNair is suffering from a sore ankle as a result of a play in Sunday's game. However, he is expected to play in this week's game.   Chris Sanders , WR TEN - Free Agent Updated 10/23/01 The Tennessean reports that Sanders has a disc problem in his back. The reserve receiver is expected to see a specialist this week. Treatment options consist of rest, an injection, or surgery. Don't expect Sanders to play anytime soon. Rookie Drew Bennett will play in his absence.   Damon Jones , TE JAC - Free Agent Updated 10/23/01 Jones is expected to resume practicing on Wednesday. An MRI on his shoulder showed that his injury would not require surgery.   Fred Taylor , RB! J! AC - The Nice Machine Updated 10/23/01 Taylor has been ruled out of Sunday's game against Baltimore and his status for next week's game remains uncertain. "All I know is that, from week to week, they increase his exercises and change of direction," head coach Tom Coughlin told The Florida Times-Union. "It remains to be seen when Fred will be able to play. Progress is slow. I'm hoping he responds well this week, then we can make some kind of legitimate guess [about a return date] next week." Taylor has been inactive since severely injuring his groin on Sept 23.     Dennis Northcutt , WR CLE - Free Agent Updated 10/23/01 Northcutt left Sunday's game because of a concussion. He is expected to play when the Browns return to action next week.   Todd Heap , TE BAL - Free Agent Updated 10/23/01 Heap did not play Sunday but head coach Brian Billick told The Baltimore Sun he is optimistic that the rookie will play in this week's game. Heap has been inactive for the last four games because of a sprained ankle.   Terry Allen , RB BAL - The Guzzlers Updated 10/23/01 Allen, who left after the fifth play of Sunday's game with a sprained ankle, is questionable for this week's game. Jason Brookins will start at running back if Allen is inactive.   Elvis Grbac , QB BAL - Thrill K! il! l Cult Updated 10/23/01 Coach Brian Billick expects Grbac to be ready for Sunday's game against Jacksonville, but the quarterback wasn't so sure. "I'm day-to-day. I'm feeling pretty sore in the chest area," Grbac said Monday. "There could be something going on with the cartilage. I haven't picked up a ball or thrown a ball, so we'll just have to wait and see." Randall Cunningham will replace Grbac if he is unable to play.     Az-Zahir Hakim , WR STL - Thrill Kill Cult Updated 10/23/01 Hakim suffered a calf injury during Sunday's blowout win over the New York Jets. However, he is expected to be available for this weekend's game against New Orleans.   Trung Canidate , RB STL - The Executioners Updated 10/23/01 According to the St. Louis Post-Dispatch, Canidate is expected to start in place of Marshall Faulk this weekend against New Orleans. "I wouldn't expect Marshall to be up for this game," coach Mike Martz said. "He's got to be 100 percent before I would be convinced that we've got to let him play. And if he's not, then he doesn't play." Canidate proved himself as a worthy replacement last Sunday against the Jets, and should be starting from a Fantasy perspective again this week.     J.J. Stokes , WR SF - Who's Yo Daddy Updated 10/23/01 Stokes spent much of the bye week tending to his injured legs, and is close to being completely healthy. "Thankfully the bye week came so early. It was a blessing for me because ! I ! was able to get treatment every day," Stokes told the Contra Costa Times . "I practiced today good. I wouldn't say I'm 100 percent but I'm darn close." Stokes has been less than mediocre, however, so don't use him as a regular starter unless he proves himself to be more reliable.   Ike Hilliard , WR NYG - oops, I did it again Updated 10/23/01 Hilliard continues to improve each week, and is now back in the Giants' starting lineup. Hilliard led the G-Men with six catches for 80 yards on Monday night against Philadelphia, and looked as though his surgically-repaired foot is almost completely healed.   Ron Dixon , WR NYG - Free Agent Updated 10/23/01  Dixon missed Monday night's 10-9 loss to the Philadelphia Eagles due to a sprained ankle. The reserve wideout is day-to-day.   Marshall Faulk , RB STL - oops, I did it again Updated 10/23/01 According to Head Coach Mike Martz, Faulk is questionable for Sunday's game against New Orleans. "I'm just taking the same posture that we did a week ago," Martz said. "I would not expect Marshall to be up (active) for this game. He's got to be 100 percent before I'll be convinced that we've got to let him play." Trung Canidate would once again start in Faulk's absence is he's unable to go.    More Updates [IMAGE]  Copyright 2001 Commissioner.COM Inc and SportsLine.com Inc. Your site can be reached from http://fantasy.sportsline.com   FB10SP


In case you haven't done it already, please cross out the note on your
calendar that today is the day the Conoco trial starts!  What better day to
announce a celebration of the settlement, since without it many of us would
be sitting in a courtroom in Midland wondering whether the trial would last 3
weeks or 30.   With that image firmly in mind, please plan on joining us for
a celebratory dinner on Thursday, August 17th at 6:00 at Brennan's.  Again,
thanks for all of your  efforts on this case, and I hope to see you on the
17th!  DF


Here are revised headcount allocation numbers from what I left you( same number of people in total with better descriptions of responsibilities and more precise allocations)...also attached is outside services detail( reduced by $700,000 since our discussions earlier) with business unit allocations reflected. The overall budget based on these attachments, which would reflect the $ 700,000 outside services reduction and three additional people severed( all assistants) would come to $13,200,000. I would allocate as follows: EES:$5.9 million; Enron Americas:$6.8 million; and global assets picking up $500,000. Let's talk Monday.

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Friday, November 16, 2001 6:08 PM
To:	Shapiro, Richard
Subject:	EES / ENA Government Affairs Staffing & Outside Services

Rick --

Here is the information on staffing and outside services.  Call if you need anything else.

Jim


GO TO THE NESTCAPE  AND ON THE COMMUMICATER  TITLE.  AT THE TOP CLICK ON IT
AND YOU WILL SEE AOL INSTANT MESS.  TRY IT THAT WAY.


Western Undeterred By Grueling Regulatory Process

Expressing frustration but continuing its resolve, Texas-based Western Hub
Properties is ironing out some "technical issues" of financing with
California regulators and now expects to start construction in February on
its delayed Lodi gas storage field in northern California.

The merchant storage project will be operating by this time next year, said
Western Hub's California-based manager, Jim Fossum, who added that with
faster approvals, the project could have been in service during this summer's
electricity generating crunch and the current gas and power shortages.

Despite the regulatory struggle, he said the company still plans to go
through with its other California storage project near Bakersfield and the
natural gas hub called Wheeler Ridge. Western has acquired leases on the
property it needs and will start more detailed engineering of the proposed
site over the first three to six months of next year. The company intends to
make a filing with state regulators in summer of 2001.

In both the approved Lodi project (see Daily GPI, May 19) and the proposed
Wheeler Ridge storage field, Western is not concerned about lining up
customers, said Fossum. The projects are not contingent on contracts, he
said. "Now that we are a bona fide (certified plant) utility under the
California Public Utilities Commission, we are getting some technical things
worked out with the commission staff and nailing down the last small pieces
of property, Fossum said. "Everything is basically ready to go at Lodi"

"We have to file with them documents that verify certain aspects of the
project's financing. We can't move ahead with the financing until the CPUC
approves it.

"If we had not encountered all of the roadblocks that we have had, we could
have helped with the problems this last summer, and we could be helping with
problems right now." He added that the project would not be operational in
time to have any impact on the upcoming summer electricity demand and
corresponding heavy natural gas demand to fuel power plants.

Lodi and the Wheeler Ridge storage project are being designed as
high-deliverability storage facilities. Lodi will have about 9 Bcf of working
capacity, building to 12 Bcf. Initially, Fossum said, Lodi should have about
400 MMcf/d injection capability and 500 MMcf/d withdrawal.

In the southern half of the state, Western for some time has been doing
reservoir studies near Wheeler Ridge and now has a "couple of reservoirs that
we think might work," Fossum said. "We're in the preliminary planning phase."

The Wheeler Ridge project would have an ultimate working capacity of 12 to 16
Bcf and similar 500 MMcf/d deliverability at its peak. He said Western hopes
to have something operational in the Wheeler Ridge area by the end of 2002.


I'm so ready.

Heather Kroll@ECT
03/02/2001 03:07 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Lake Austin Spa Resort

You know I'm in!!!!

Heather

PS Of course I came in to the office.  I've got a conference call with Bob
Wright in the next 5 minutes.  What are the odds that we file?

Kay Mann@ENRON
03/02/2001 07:52 AM
To: Heather Kroll/HOU/ECT@ECT, Roseann Engeldorf/Enron@EnronXGate, Gail
Brownfeld/ENRON@enronXgate, Lisa Bills/Enron@EnronXGate
cc:
Subject: Lake Austin Spa Resort

As I mentioned (or you've heard), a group of us are planning a trip to the
Lake Austin Spa, beginning May 4.  I think I will probably stay 3 nights, but
the Spa will give us these rates for 2 night stays.  The rates are group
rates, but a group only takes 6 people.  I'm going even if we don't get 6.

I will try to block some rooms next week so we hold spaces.  Please let me
know if you are interested.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 03/02/2001 07:47
AM ---------------------------

"Cindy Viator" <cindyv@lakeaustin.com> on 02/23/2001 02:33:04 PM
To: <kay.mann@enron.com>
cc:

Subject: Lake Austin Spa Resort

Contact: Kay Mann

email: kay.mann@encore.com

Getaway package May 4, 2001

Includes six (6) private signature or premier room. Three healthy gourmet
meals daily, unlimited fitness classes, activities and discovery programs.
Spa  services and personal fitness instructions are available a la carte.

Two Nights, Private Accommodations:

Signature Room $720* per person

Premier Room $820* per person

Three Nights, Private Accommodations:

Signature Room $1,080* per person

Premier Room $1,230* per person

*rates do not include 6% tax and 18% service charge and is
non-commissionable. These rates will only apply to a group of six or more
people visiting during the dates listed above.

Private activities such as boat cruises, hikes, yoga classes or kayak  outing
are also available at additional charges.

Deposit:

A $500 per person pre-payment is due at the time of  booking. Payments can be
made by persona, corporate, or cashiers check, Visa,  Mastercard, Discover,
Diners Club or American Express.

Cancellations:

Cancellations made 45 days or more in advance will receive  a full refund of
the pre-payment. Reservations cancelled 44 - 15 days or less  prior to
arrival will be non-refundable but we will hold the pre-payment amount  for
up to one year to be used at a later date. Reservations cancelled 14 days or
less prior to arrival will forfeit the entire pre-payment amount.

Please review this proposal and call me at  your earliest convenience with
any questions and/or comments. I will be happy to  help customize a package
to fit the particular needs of your guests.

Sincerely,

Cindy Viator

Sales/Marketing

cindyv@lakeaustin.com

800-847-5637

?

[IMAGE]?
 - lasr.jpg


This is the last one and probably the best - near smu (connected by rail to
downtown and near greenville - another bar area).  Might be a little more
expensive but probably worth it.

http://www.hilton.com/doubletree/hotels/DFWCNDT/index.html?show=all


Gerald,

Attached is the letter to Tom Brown concerning confidentiality for the
transaction with changes made as requested by Tom Brown.  The only change
requested was to change "Third Parties" to "potential investment partners".
Third Parties (capitalized is not defined as part of the original
agreement).

Also attached is a draft document listing items to be quantified for
damages.  We are already beginning the process to quantify the value of each
item and document the events, timing, etc.  This list is for discussion
purposes only at this point.

Ken Krisa

 - TBI CA letter agreement 1-5-01.doc
 - Contract Issues 1-5-00.doc


As many of you are aware, over the last few weeks the Kiodex transaction has
changed such that it no longer includes the sale of EnergyDesk.   The new
transaction structure is limited to the Kiodex/EOL Strategic Relationship and
performance warrants.  Attached is the final version of the non-binding
Kiodex LOI which was signed November 21, 2000.  Our goal is to finalize the
documents and close by year end.  If anyone has any questions or comments
please feel free to give me a call at the numbers listed below.  Thank you.

Drew Ries
Manager, e-Commerce Ventures
Enron Net Works
1400 Smith Street, EB2735a
Houston, TX  77002

(713) 345-6075 (work)
(713) 569-6131 (mobile)


Customer would like to find out why his profile is set only at 12 months for
US Power.  He stated that he currently does OTC for longer periods and would
like to for EnronOnline also.

Glen Grayeb
Sithe Power Marketing, L.P.
212.351.0360
ggrayeb@sithe.com

Please advise and thanks for your help.

Kathy Moore
EnronOnline
713-853-4720


I would add the thought in para # of keeping up with "rapidly increasing
demand" rather than just demand.  Second, can we tease out of the governor's
position the concept that utilities "should" be buying forward, rather than
simply making it "simpler" to buy forward?

----- Original Message -----
From: Katie Kaplan <kaplan@iepa.com>
To: Tom Ross <tross@mcnallytemple.com>; Sue Mara <smara@enron.com>;
Stephanie-Newell <stephanie-newell@reliantenergy.com>; Rob Lamkin
<rllamkin@seiworldwide.com>; Richard Hyde <rwhyde@duke-energy.com>; Pigott
Jack <jackp@calpine.com>; Paula Hall-Collins
<paula.hall-collins@williams.com>; Norton Kelli <knorton@mcnallytemple.com>;
McNally Ray <rmcnally@mcnallytemple.com>; Marty Wilson
<mwilson@pstrategies.com>; Lynn Lednicky <lale@dynegy.com>; Kristin Vellandi
<kvellandi@pstrategies.com>; kent Palmerton <kent.palmerton@williams.com>;
Katie Kaplan <kaplan@iepa.com>; Kassandra Gough <kgough@calpine.com>; Karen
Edson <kedson@ns.net>; Julee Malinowski-Ball <jmball@ns.net>; John Stout
<John_H_Stout@reliantenergy.com>; Joe Ronan <joer@calpine.com>; Jeff
Dasovich <Jeff.Dasovich@enron.com>; Jean Munoz <jmunoz@mcnallytemple.com>;
Jan Smutny-Jones <smutny@iepa.com>; Greg Blue <gtb
Cc: Carol H Hudson <Chudson@iepa.com>; Steven Kelly <steven@iepa.com>
Sent: Wednesday, January 03, 2001 6:37 PM
Subject: FW: Cal Journal Ad #2

> Here is the second Cal Journal ad.  Please take a look and get any
comments
> back to me by 3:00 tomorrow  (Thursday January 4th).  Please let me know
if
> you can't open it.
>
> Thanks
>
> Katie Kaplan
> Manager of State Policy Affairs
> Independent Energy Producers Association
> (916) 448-9499
>
>


Michelle:
I just wanted to confirm that you received our fax yesterday regarding the
stork bond application for our son Charles Eugene.  Please confirm when
convenient.

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


Michael,

	Holden Salisbury, trader in our PDX office, seems to be having problems [emails included below] with getting full access to the Foster project's applications. Seems that when he browses through his program menu's on his local machine he sees only Oasis Net Exports and Transmission Ticker and when he goes through TerminalServer he's got access to all of them, he needs to be able to access all apps [ Transmission Ticker, Net Exports. Transmission Offerings, Reservation Reports, Batch Scheduler, ATC reports] from his local machine.  IT IRM  contacts up on the Portland side are Chip Cox [503-703-0536] and David Steiner [503-703-1553]. Please do let whomever know what needs to be done in order to get this resolved.

thanks in advance
Asem
x31700

 -----Original Message-----
From: 	Salisbury, Holden
Sent:	Thursday, May 24, 2001 02:47 PM
To:	Atta, Asem; Cox, Chip
Cc:	Steiner, David; Kane, Paul
Subject:	RE: Status?

I need all of the Foster applications on my local profile.  I have some of them on local and some of them on my terminal server profile.  I need the same Foster profile that Diana Scholtes has on her local machine.  As of this morning I still do not have it.  Please let me know when my profile gets updated.

Thank You,
Holden

 -----Original Message-----
From: 	Atta, Asem
Sent:	Wednesday, May 23, 2001 7:18 AM
To:	Cox, Chip
Cc:	Steiner, David; Kane, Paul; Salisbury, Holden
Subject:	RE: Status?

Chip,

	The issue seems to be that of an Information Risk Management problem where they haven't pushed out all the application access to Holden's profile.. I had put in a ticket with (31411) under your name for this matter on Monday. I will call them and ask them to escalate this matter.

regards
Asem
x31700

 -----Original Message-----
From: 	Cox, Chip
Sent:	Tuesday, May 22, 2001 05:33 PM
To:	Atta, Asem
Cc:	Steiner, David; Kane, Paul; Salisbury, Holden
Subject:	Status?

Hi Asem, just wondering if you've gotten any updates on the Foster Application issue for Holden Salisbury.

Thanks,  Chip


Mike and Sally:

I have attached a spreadsheet which contains graphs reflecting the following numbers.  These numbers are from the fall 2000 recruiting season.  Unfortunately, I do not have any recruiting numbers reflecting back before I began recruiting at Enron.

I will be happy to meet with you to provide further explanation and to discuss our participation in the endowment and trading floor sponsorship.

Please let me know if I can provide additional information.

Thanks!

lexi

UNIVERSITY OF OKLAHOMA
Full-Time Statistics Fall 2000
	Interviewed	Offers Extended	Accepted
Finance	11	2	1
Accounting/Tax	3	2	1
Energy Management   	5	2	1
Economics	2	2	2
Other 	2	0	0

UNIVERSITY OF OKLAHOMA
Intern Statistics Fall 2000
	 Interns Interviewed	Intern Offers Extended	Interns Accepted
Finance	3	3	2
Accounting/Tax	4	4	2
Energy Management   	12	7	1
Economics	0	0
Other	2	0


nitid (NIT-id) adjective

   Bright; shining; glossy.

[From Latin nitidus (shining), from nitere (to shine).]

Etymologically speaking, the word "neat" is a cousin of today's word.

   "The last rays of the sun linger, hanging on to clouds whose bizarre
   formation is never more apparent, while the evening gently settles in,
   erasing the nitid contours of objects and people."
   Celeste Olalquiaga, The Artificial Kingdom: A Treasury of the Kitsch
   Experience, Pantheon Books, 1998.

This week's theme: miscellaneous words.

Today's AWAD is sponsored by NannyTax, Inc., providing tax compliance services
to employers of domestic help. For useful information and a free consultation,
please visit: http://www.nannytax.com

AND
Learn A Second Language Quickly And Easily with Pimsleur. Only 30-minutes
a day, easily done in your car! http://LanguageLovers.com/?AWORD

............................................................................
When one has too great a dread of what is impending, one feels some relief
when the trouble has come. -Joseph Joubert, essayist (1754-1824)

Subscribe:    http://wordsmith.org/awad/subscribe.html
Unsubscribe:    http://wordsmith.org/awad/unsubscribe.html
Change address:   http://wordsmith.org/awad/address-change.html
Gift subscription:  http://wordsmith.org/awad/gift.html

Pronunciation:
http://wordsmith.org/words/nitid.wav
http://wordsmith.org/words/nitid.ram


I'm so sorry, gals, but I feel awful and I'm going home to nurse myself to
health. If you could direct your e-mails for the remainder of the day to the
respective traders, I would really appreciate it. And if anything can wait
until tomorrow, just e-mail it to me and I'll take care of it in the morning.
I'm going to sleep for the next 15 hours and see if that rids me of this cold
once and for all!

Thanks,
Kate
cell phone (503) 819-2181


CNNSI.com <http://cnnsi.com> 	  <http://i.cnn.net/si/email/pro _football_extra/images/header_text.gif>
  <http://i.cnn.net/si/email/pr o_football_extra/images/black1x1.gif>
  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>
  <http://i.cnn.net/si/ema il/pro_football_extra/images/black1x1.gif>
Issue No. 06 	October 18, 2001
scores <http://sportsillustrated.cnn.com/football/nfl/scoreboards/today.html>  | schedules <http://sportsillustrated.cnn.com/football/nfl/schedules/index.html> |  standings <http://sportsillustrated.cnn.com/football/nfl/standings/> |  stats <http://sportsillustrated.cnn.com/football/nfl/stats/index.html> |  matchups <http://sportsillustrated.cnn.com/football/nfl/matchups/index.html> |  stadiums <http://sportsillustrated.cnn.com/football/nfl/stadiums/gateway/index.html> |  depth charts <http://sportsillustrated.cnn.com/football/nfl/depth/index.html> |  injuries <http://sportsillustrated.cnn.com/football/nfl/injury_report/index.html> |  players <http://sportsillustrated.cnn.com/football/nfl/players/index.html> |  teams <http://sportsillustrated.cnn.com/football/nfl/teams/index.html>

  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	<http://victory.cnn.com/click.ng/Origin=si&PagePos=1&Section=siemailfootball&Size=468x60&SpaceDesc=siemailfootball&uniqueID=XXXXX>
  <http://i.cnn.net/si/email/pro_football_extra/images/king_50x65.gif>
	  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
Matchup of the Week
  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/helmets/sd.chargers.sm.gif>  <http://i.cnn.net/si/email/pro_football_extra/images/helmets/den.broncos.sm.gif>
by SI's Peter King

After I, along with most of the western world, declared the Broncos the favorites in the AFC West this fall, they've now been beaten to the kind of Gerry Cooney pulp that makes their top-flight status quite shaky. They're the third-highest scoring team in their own division, for crying out loud. (San Diego 132, Oakland 131, Denver 123.) And quarterback Brian Griese has a bum throwing shoulder; he has far less zip on the ball. Trouble, with a capital T, especially now that he has to play without Ed McCaffrey. Even though the Chargers have lost two straight weeks on the road to beatable Cleveland and New England, you have to like their chances to win at a fever-pitched Qualcomm. I like Doug Flutie to play big in a big game. Flutie and new offensive coordinator Norv Turner have made some beautiful music together in the first third of the season, which is pretty remarkable considering this is about the 64th offense Flutie's had to learn since leaving Boston College. "It's tou! gh! when you have to keep learning new offenses,'' Flutie tells me, "but you have to wipe the slate clean and start fresh. A lot of guys carry some baggage when they go from one place to another. You say, We used to to do it this way, or call it such and such, and you think of it in those terms. But you have to erase that. I've been pretty good at doing that. And the bottom line here is, I believe in Norv Turner, and I will try to do it his way. It's worked well so far."

Catch Sports Illustrated's Peter King live from Raymond James Stadium in Tampa with the latest football news Sunday at 10 a.m. on NFL Preview.

  _____

 <http://cnnsi.com/football/nfl/features/2001/newsletter/1016/sapp_lg-01.jpg>
Bill Frakes
Click here to enlarge this picture <http://cnnsi.com/football/nfl/features/2001/newsletter/1016/sapp_lg-01.jpg>
SI's Photo of the Week
The Titans Sapped Tampa Bay's all-pro defensive tackle of his strength in a key overtime battle. 	  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/drz_50x65.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
Power Rankings
  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
from SI's Dr. Z
  <http://i.cnn.net/si/email/pro_football_extra/images/helmets/st.rams.sm.gif>	St. Louis Rams (5-0)
The Giants figured out how to slow them down: Put your best pass rusher on a guy who's playing with a separated shoulder and a broken hand.
  <http://i.cnn.net/si/email/pro_football_extra/images/helmets/gb.packers.sm.gif>	Green Bay Packers (4-1)
Superb work by the offensive line against the Baltimore rush made a statement. Without heat on the quarterback, a zone defense -- anyone's, even that of the Ravens -- is fresh meat for a hungry lion like Brett Favre.
  <http://i.cnn.net/si/email/pro_football_extra/images/helmets/ok.raiders.sm.gif>	Oakland Raiders (4-1)
Why look for problems after a good road victory, but we must point out that the 101 yards gained on the ground was the most by the Raiders this year, and sooner or later it's gonna catch up with them.
For more Power Rankings click here <http://cnnsi.com/football/news/2001/10/16/power_rankings/>
  _____

  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
What You Need to Know by SI's Peter King
  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>

1. Butch Davis believes just what his old boss in Dallas, Jimmy Johnson, believes when it comes to draft choices. In jettisoning a player they were not using prominently, defensive lineman Stalin Colinet, to Minnesota, the Browns upgraded a seventh-round draft pick to a fifth-rounder. Now Cleveland has the most picks in the 2002 draft, 10, of any team in the league but expansion Houston.

2. With the No. 1 pick in next April's draft, Houston likely will not reach for either of the two top-tier quarterbacks available, Oregon's Joey Harrington and Fresno State's David Carr. My sleeper picks for the Texans' Opening Day QB: Shane Matthews or that kid with the Texas name and California 'tude, Cade McNown.

3. Good for Mike Holmgren. He's not wavering on putting Matt Hasselbeck back in the lineup next week at Miami. Here's the thing with the Seahawks' QB situation: You'll never find the upside of Hasselbeck unless you play him. Remember, it was late in Brett Favre's second year as a starter when assistant coaches on the Green Bay staff urged Holmgren to yank him. Hasselbeck needs time, even with the pennant race on the line.

4. Underrated Defensive Player of the Year so far: Pittsburgh rookie linebacker Kendrell Bell, a force as an inside and outside player. He has 20 tackles and three sacks in his last three games. And doesn't that make the Cowboys sick. This was the player Jerry Jones bypassed to select Quincy Carter, trumping the Dallas draft board.

Click here to send a question to Peter King's mailbag <http://sportsillustrated.cnn.com/football/nfl/news/2000/08/30/submit/>

  _____

  <http://i.cnn.net/si/email/pro_football_extra/images/kirwan_50x65.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
Unsung Heroes
  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
by CNNSI.com's Pat Kirwan

Wide receiver Hines Ward was supposed to watch two first-round draft picks take over starting roles at his position in Pittsburgh. But Plaxico Burress and Troy Edwards haven't developed the way Ward has. In the past two weeks he has caught 12 balls for 106 yards and a touchdown. Meanwhile, backup running back Amos Zereoue has been giving the Steelers a change of pace when Jerome Bettis has needed a break. In the last two games, Zereoue has rushed 16 times for 102 yards. In my book, that makes him a productive player behind the scenes and a guy a number of teams would start if they had him on their roster.

Click here for more of Pat Kirwan's Unsung Heroes <http://cnnsi.com/inside_game/pat_kirwan/news/2001/10/17/unsung_heroes_oct17/>

  _____

INSIDE THE NFL, cable's longest running, most successful sports series, returns for its unprecedented 25th anniversary season. Log on to <http://www.hbo.com/infl> and submit a question to our hosts Len, Nick, Cris, Jerry and Dan who just might answer it on air. Also, check out our columns from football experts Gary Myers and Elliott Kalb as well as exclusive video interviews. Inside the NFL after 25 years, still the show the pro's watch.
  _____

  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif>	Fantasy Tip of the Week
by CNNSI.com's James Quintong

It looks like it's safe to play Terry Glenn after he had a huge game against the Chargers on Sunday. He could be in for another big effort as the Patriots take on the Colts. The Indianapolis defense is still very spotty, allowing New England to put up 44 points in Week 3. Glenn's return could help the value of Tom Brady, who you might want to pick up if you're desperate for quarterback help.

Tim Biakabutuka hasn't had much of a season so far, but this could be the week to play him as the Panthers take on the Redskins, who have the worst run defense in the NFL. In fact, until proven otherwise, any decent running back playing Washington that week will be a recommended play.

For more fantasy news and tips click here <http://sportsillustrated.cnn.com/fantasy/>

  _____

 <http://victory.cnn.com/click.ng/Origin=si&PagePos=1&Params.lifetime=-1&Section=siemailfootballsponsorbutton&Size=120x60&SpaceDesc=siemailfootballsponsorbutton&uniqueID=XXXXX>
  _____

  <http://i.cnn.net/si/email/pro_football_extra/images/nfl_preview_100x68.gif>	  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
Poll
  <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>

In the fourth quarter, with the game on the line, which QB would you want?

   * 	 John Elway

   * 	 Brett Favre

   * 	 Dan Marino

   * 	 Joe Montana

Click here to vote <http://sportsillustrated.cnn.com/thenetwork/nflpreview_showpage/>
Results on NFL Preview - Sunday, 10 a.m. on CNN
  _____

 <http://victory.cnn.com/click.ng/Origin=si&PagePos=1&Params.lifetime=-1&Section=siemailfootballpromobutton&Size=120x60&SpaceDesc=siemailfootballpromobutton&uniqueID=XXXXX>

Hey Football Fan!
Click here <https://cgi.timeinc.net/cgi-bin/magsubs/cc/subs/si_nflkick01?EFFORTKEY=SIEUUP7> for your subscription to SPORTS ILLUSTRATED and receive a FREE football and video featuring your favorite team!
  _____

<http://football501.si.cnn.com/mp/splash/home?product=opc>
Standings after Week 5
The top 5 CNNSI and HBO experts:
EXPERTS 	WEEK 5 	SEASON
Trev Alberts 	8-6 	47-25
Cris Collinsworth 	8-6 	46-26
Bob Lorenz 	7-7 	46-26
Pat Kirwan 	7-7 	46-26
Len Dawson 	8-6 	45-27

The top 5 celebrity experts:
CELEBRITIES 	WEEK 5 	SEASON
Scott Winters 	7-7 	48-24
Clyde Drexler 	9-5 	48-24
Dean Cain 	7-7 	45-27
Johnny Bravo 	6-8 	44-28
Cynthia Cooper 	9-5 	43-29

Click here to sign-up today!
 <http://football501.si.cnn.com/mp/splash/home?product=opc>
  _____

To view this newsletter in html format please click the link below, or cut and paste it into your browser:
<http://cnnsi.com/email/pro_football_extra/2001/10/18/>
  _____

 CNNSI <http://a1208.g.akamai.net/7/1208/380/000/sportsillustrated.cnn.com/images/logos/2000/footer.gif>	Copyright 2001 CNN/Sports Illustrated. A Time Warner Company. All Rights Reserved.
Terms <http://sportsillustrated.cnn.com/interactive_legal.html> under which this service is provided to you. Read our privacy guidelines <http://sportsillustrated.cnn.com/privacy/index.html>.
  <http://WWW.PRQ0.COM/apps/msgopen.asp?id=33877,YcdbhbedfCG>

To unsubscribe from CNNSI.com's Pro Football Extra, please follow this link.
Click Here <http://cgi.cnnsi.com/cgi-bin/mail/clik?email=jreitme@enron.com&list=profootball>
This message was sent to you at jreitme@enron.com


Ray, Joe Dilg has informed me of your very kind offer of assistance with
regard to my son's (James V. Derrick III) interest in applying to  the SMU
School of  Law; I am most grateful. SMU is his first choice.   We are
currently working on his application and hope to get it to the school within
the next ten days.  He  graduated from the University of Mississippi and is
currently enrolled in a university in Madrid, Spain studying Spanish. I will
send you a copy of his application as soon as it is completed.  All the
best.  Jim


---------------------- Forwarded by Steven J Kean/NA/Enron on 08/22/2000
04:51 PM ---------------------------

"Elizabeth A. VanDersarl" <liz@luntz.com> on 08/22/2000 10:47:36 AM
To: "'skean@enron.com'" <skean@enron.com>
cc:

Subject: RE: Pro Regulation speech

Steve,

Attached please find the pro-regulation speech.  We have a studio reserved
between 4 and 5 PM today.  If it's possible to get comments on the speeches
before the conference call, we would really appreciate it.  I'll forward the
edited deregulation speech to you shortly.

Thanks,

Liz

 <<Pro-Regulation speech.doc>>

 - Pro-Regulation speech.doc


On Friday we plan to use the following statement, primarily in India, to
respond to media inquiries and to counter the perception that recent events
have increased the prospect for renegotiation concessions.  Please let me
know if you need additional information or have comments.

John


Where is my LNG map?


Mark Taylor asked me to run something on Online Trading by you.  We got a
list of questions on various Online Trading issues from the Products Control
Group which appears to be the group the will be managing the Online Trading
HelpDesk.  One of their questions related to the desire of HelpDesk managers
to periodically listen in on phone calls with the customer to ensure what
they explained as a "quality control" over the responses given to customers
on the HelpDesk.  They explained it as being like when your credit card
company has an announcement that says the calls may be monitored from time to
time.

Is this something we want to do?  If we do, that brings up other issues, and
we will have to run this by our outside counsel, Sullivan & Cromwell.

Can you let me know your thoughts...Thanks!


Per our verbal conversation earlier today, Enron North America Corp. would be
interested in selling gas under the following terms:

                        Volume:  400,000MMBtu during the month of August,
2000 and 800,000MMBtu during the first 10 days of September, 2000
                        Price:  Fixed price  as agreed by both parties at
time of  request  by Duke for a firm price equal to the September NYMEX  +$.01
                        Delivery Point:  as agreed by both parties

Please call with questions and concerns.  This e-mail is for discussion
purposes only and not intended to be complete and all inclusive of the terms
of the related transaction.


We are certainly two different companies.  At first blush, the stable cash flow from the utility business is certainly a good thing.  A foothold in PJM may also be beneficial.  Combined market cap would be about $25 million--debt-to-cap still high, offset by more stable cash flows.  EXC's ROA and ROE appears much stronger.  More later....

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Friday, October 26, 2001 8:29 AM
To:	Schneider, Chip
Subject:	Exelon + Enron -- Do the financials look good?

Chip --

Did you get the chance to look at the combined company?  Just interested.

Thanks


Mike:
Could you please leave me a quick e-mail letting me know where things stand
with respect to your review of the comments that I faxed to you as my credit
people have been asking about it?  Thanks.

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


Hi Brad,
I asked Zimin Lu from research as to which formula is more correct when valuing asian options. He replied the ASTRIP is more suitable for the options that we have. We will probably continue to use the ASTRIP in our model to remain consistent with the way we've been valuing these options in the past. Please let me know what you decide to do on your side.

Thanks,
Reno

-----Original Message-----
From: Lu, Zimin
Sent: Monday, October 22, 2001 2:57 PM
To: Casimir, Reno
Subject: Re: ASTRIP vs ASN
Importance: High

You should use ASTRIP if
The option is on serval month
Averaging.

I am out for a conference. Call Bob LEE for more question.

Zimin
--------------------------
Zimin Lu


Hey baby!!!

Here you go!!!


Congratulations!  You've helped make Enron one of America's elite
corporations.  We had a stunning performance in 2000, and, as a result, Enron
now ranks No. 7 on the Fortune 500, up from No. 18 last year.

The Fortune ranking is based on revenues of the nation's largest companies.
Last year, propelled by an enormous increase in volumes on EnronOnline, we
topped the $100 billion mark.  We expect to continue growing and climbing on
the Fortune 500 list.  This amazing growth is part of the reason we have
developed a new vision for Enron: to become The World,s Leading Company.
With your continued dedication and creative performance, we can realize
another year of stellar performance and will surely achieve this latest and
most compelling vision.

The Fortune 500 issue will be on newsstands April 16, however, you can read
about it now at www.fortune.com.


The problem is in getting the original in their hands (where?) by tomorrow.
Does it have to be an original?

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/30/2001 11:04:21 AM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: Delta Documents

Kay:

Can we at least get the membership certificates signed by Tuesday?  This
seems to be the only document required in advance of closing.  If we can't
get the 80% membership interest certificate in the lender's possession on
the closing date, then there is a lien perfection issue for them to deal
with, and I thought we could accommodate their request and avoid the problem
altogether.  Please advise, as Greg and Isabel will be calling within an
hour or so to finalize the mechanics on this.  Thanks.

Carolyn M. Campbell
King;& Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>
;

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, April 30, 2001 10:40 AM
To: Campbell, Carolyn
Subject: Re: Delta Documents

I've asked GE for the LOC by Wednesday, but I haven't gotten a response.

I'll have difficulty getting executed docs by Tuesday, since sigs are
coming from Portland.  I'll have to check to see what can be done.

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/30/2001 10:02:44 AM

To:   "'kay.mann@enron.com'" <kay.mann@enron.com>
cc:

Subject:  Delta Documents

Kay:

Can you get executed documents back to me on Tuesday?  Greg has requested
that we send the original membership certificate representing the 80%
interest to the collateral agent Tuesday night by overnight delivery to
hold
in escrow until closing, in order that the collateral agent is in
possession
of the certificate (for purposes of legal opinions) upon closing on
Wednesday.  Greg is planning to fax signature pages of all of their closing
documents later today.  (I will be out of the office at a meeting with
another client most of the afternoon today).

There is one last question with GE dealing with the letter of credit for
the
retention amount, as this affects our disbursement instruction letter.  I
advised Greg that GE's normal practice was to send the retention L/C after
receipt of payment.  He is considering this, but may want to talk to GE
about the ability to present the L/C at closing.  Do you have any thoughts
on this?

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not
the named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.


Enron Troubles Only the Tip of the Iceberg?
TheStreet.com, 10/26/2001

Under the Radar: Enron's Flickering Bulb
TheStreet.com, 10/26/2001

DJ Enron Unit,New England Market Downplay Report Of Default
Dow Jones, 10/26/2001

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
Bloomberg, 10/26/01

Enron Executives Sent Requests for Details of Affiliate Profits
Bloomberg, 10/26/01

Enron Still Target in California Amid Other Problems (Update1)
Bloomberg, 10/26/01

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
Bloomberg, 10/26/01

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees
Business Wire, 10/26/01

Enron Troubles Only the Tip of the Iceberg?
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
TheStreet.com
10/26/2001 05:23 PM EDT
URL: <http://www.thestreet.com/markets/detox/10003083.html>

Dealings with a related party have tarnished Enron's (ENE:NYSE - news - commentary) reputation and crushed its stock, but it looks like that case is far from unique.
The battered energy trader has done business with at least 15 other related entities, according to documents supplied by lawyers for people suing Enron. Moreover, Enron's new CFO, who has been portrayed by bulls as opposing the related-party dealings of his predecessor, serves on 12 of these entities. And Enron board members are listed as having directorships and other roles at a Houston-based related entity called ES Power 3.
The extent of Enron's dealings with these companies, or the value of its holdings in them, couldn't be immediately determined. But the existence of these partnerships could feed investors' fears that Enron has billions of dollars of liabilities that don't show up on its balance sheet. If that's so, the company's financial strength and growth prospects could be much less than has generally been assumed on Wall Street, where the company was long treated with kid gloves.
Enron didn't immediately respond to questions seeking details about ES Power or about the role of the chief financial officer, Jeff McMahon, in the various entities. Enron's board members couldn't immediately be reached for comment.
Ten Long Days
Enron's previous CFO, Andrew Fastow, was replaced by McMahon Wednesday after investors criticized Fastow's role in a partnership called LJM, which had done complex hedging transactions with Enron. As details of this deal and two others emerged, Enron stock cratered.
The turmoil that resulted in Fastow's departure began two weeks ago, when Enron reported third-quarter earnings that met estimates. However, the company failed to disclose in its earnings press release a $1.2 billion charge to equity related to unwinding the LJM transactions. Since then, investors and analysts have been calling with increasing vehemence for the company to divulge full details of its business dealings with other related entities. Enron stock sank 6% Friday, meaning it has lost 56% of its value in just two weeks.
Enron's End Run?
New financial chief's involvement in Enron business partners
Enron-Related Entity	Creation DateMcMahon Involved?

ECT Strategic Value Corp.4/18/1985	Yes
JILP-LP Inc.	9/27/1995	Yes
ECT Investments Inc.	3/1/1996	Yes
Kenobe Inc.	11/8/1996	Yes
Enserco LLC	1/7/1997	Yes
Obi-1 Holdings LLC	1/7/1997	Yes
Oilfield Business Investments1/7/1997	Yes
HGK Enterprises LP Inc.	7/29/1997	Yes
ECT Eocene Enterprises III Inc.2/20/1998Yes
Jedi Capital II LLC	9/4/1998	Yes
E.C.T. Coal Company No. 12/31/1998	Yes
ES Power 3 LLC	1/7/1999	Yes
Enserco Inc.	3/25/1999	No
LJM Management LLC	7/2/1999	No
Blue Heron I LLC	9/17/1999	No
Whitewing Management LLC2/28/2000	No
Jedi Capital II LLC	4/16/2001	No
Source: Detox
However, Enron has yet to break out a full list of related entities. The company has said nothing publicly about McMahon's participation in related entities, nor has it mentioned that its board members were directors or senior officers in ES Power 3. (Nor has it explained the extensive use of Star Wars-related names by the related-party companies.) It's not immediately clear what ES Power 3 is or does. So far, subpoenas issued by lawyers suing Enron have determined the names of senior officers of ES Power 3 and its formation date, January 1999.
Among ES Power 3's senior executives are Enron CEO Ken Lay, listed as a director, and McMahon and Fastow, listed as executive vice presidents. A raft of external directors are named as ES Power 3 directors, including Comdisco CEO Norman Blake and Ronnie Chan, chairman of the Hong Kong-based Hang Lung Group. A Comdisco spokeswoman says Blake isn't commenting on matters concerning Enron and a call to the Hang Lung group wasn't immediately returned.
Demands, Demands
Rating agencies Moody's, Fitch and S&P recently put Enron's credit rating on review for a possible downgrade after an LJM deal that led to the $1.2 billion hit to equity. Enron still has a rating three notches above investment grade. But its bonds trade with a yield generally seen on subinvestment grade, or junk, bonds, suggesting the market believes downgrades are likely.
If Enron's rating drops below investment grade, it must find cash or issue stock to pay off at least $3.4 billion in off-balance sheet obligations. In addition, many of its swap agreements contain provisions that demand immediate cash settlement if its rating goes below investment grade.
Friday, the company drew down $3 billion from credit lines to pay off commercial paper obligations. Raising cash in the CP market could be tough when investors are jittery about Enron's condition.
This week, a number of energy market players reduced exposure to Enron. However, in a Friday press release, CEO Lay said that Enron was the "market-maker of choice in wholesale gas and power markets." He added: "It is evident that our customers view Enron as the major liquidity source of the global energy markets."
McMahon reportedly objected to Fastow's role in LJM, allegedly believing it posed Fastow with a conflict of interests. But he will need to convince investors that the 12 entities he's connected to don't do the same. Enron has said that its board fully approved of the LJM deals that Fastow was involved in. Now, board members will have to comment on their own roles in a related entity.

Under The Radar: Enron's Flickering Bulb
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
10/26/2001 05:08 PM EDT
URL: <http://www.thestreet.com/comment/chrisedmonds/10003075.html>

While the bulb at Enron (ENE:NYSE - news - commentary) may not have burnt out, it's clearly flickering. To date, investors aren't sure whether Chairman and CEO Ken Lay is up to the task of re-energizing the company he once built to greatness.
What's happened at the Houston energy giant-turned-dwarf could've been imagined with any number of ne'er-do-well companies during the well-chronicled bubble. But this is Enron. As one longtime Enron bull and shareholder said, "I never had to worry about Enron's ability to survive until this week. I still find it hard to believe."
Peter Eavis has done an exceptional job of chronicling Enron's adventures for some time. If you'd listened to him earlier this year, you'd have profited from his knowledge. His reporting on Enron's partnership shenanigans to the departure of Chief Financial Officer Andrew Fastow has been outstanding.
The rumors -- from a pending bankruptcy to a Justice Department investigation -- are, for now, just that. And, Enron did not single-handedly cause the California power crisis, nor is Royal Dutch/Shell (RD:NYSE - news - commentary) about to make a bid to buy the company. Sources do tell me that head-count reductions are likely through employee buyout offers and the company is set to refocus on its core energy business. And, while former CEO Jeff Skilling shares culpability for the current mess, his departure appears only indirectly related to Enron's current woes.
Now, Enron faces the daunting challenge of rebuilding both its business and, more importantly, its reputation.
The Company's Challenge
But what does Enron do now? It's very simple. Come clean, clean up the mess and refocus on its core business: wholesale energy markets, risk management and retail energy services. They support each other and create a platform that can be plenty profitable without a lot of gimmicks.
"Our gut feel is that Enron can pull it off, and long-term investors should hold firm, as eventually the stock gets valued on earnings, with upside potential to $25 per share over the next 12-18 months," says Jeff Dietert, power analyst at Simmons & Co. and a member of the TSC Energy Roundtable. "We believe new money with high risk tolerance should wait until Enron announces its intentions for communicating a clear path to recovery."
Dietert outlines four challenges for Enron. One, management must regain the Street's confidence and persuade investors that it can resolve balance-sheet strength and generate the expected earnings and cash flow. Two, Enron must maintain its investment-grade credit rating. Three, Enron must successfully execute its divestiture plans. Four, Enron must control the timing of the recognition of the write-down in the value of any assets where market value is less than book.
Straightforward? Yes. Easy to accomplish? No.
Although Enron says additional write-downs are unlikely -- except a $200 million charge early next year as the result of an accounting change -- analysts aren't so sure. They're focused on the company's Global Assets portfolio, sporting $6 billion in book value but generating an EBIT (earnings before interest and taxes) loss of $18 million over the past 12 months.
The divestitures include $390 million in exploration and production assets in India, $250 million in a Puerto Rico power plant and $250 million in a Brazilian power plant in the fourth quarter as well as the pending sale of Portland General, which is set to close in 2002. There will likely be others. However, Enron has to execute here, and given the current state of its affairs, the seller will feel the pressure.
The credit-rating issue is a fine line. The current ratings, BBB+ from Standard & Poor's and Baa1 from Moody's, are three levels above non-investment grade. However, both rating agencies now have Enron on their radar screens for possible downgrades. Dietert estimates that Enron's debt-to-market cap will be about 48% by year-end, and the company has interest coverage (EBITDA/ interest expense) of about 3.5 times. By comparison, the average S&P BBB-rated company has a debt-to-cap of 47.4% and interest coverage of about 6.1 times. The average BB company has debt-to-cap of 61.3% and interest expense of 3.8 times.
Frankly, everything falls on Enron's management team and its ability to reassure investors. "If Enron's management does not step up to calm investor fears, these fears could become a self-fulfilling prophecy," Dietert says. "In the potentially vicious cycle, investor fears could drive stocks down; the lower stock prices force the rating agencies to consider downgrades; potentially lower credit ratings force counter-parties to reduce exposure to Enron, limiting Enron's ability to generate earnings and cash flow."
It's time for Enron to grow up. Despite a lot of uncertainties and risk, I think it will. Investors with risk capital should do their homework on the stock and think about strategy. It's a tough call that requires strict, individual discipline.
There's an irony to this whole story, especially in Enron's lack of candor in reporting its financial results. In a much-lauded advertising campaign, Enron, looking to challenge conventional wisdom, asks the simple question, "Why? Ask why."
Investors are now asking. It's time for Ken Lay to answer.
First Things First
Many readers have asked about my relative quietness this week. Thank you for your concern. My father has fallen ill after fighting the effects of a brain tumor for more than a decade.
The choice was easy. I'm with him and my family.
Enjoy your weekend with family and friends.

DJ Enron Unit,New England Market Downplay Report Of Default
2001-10-26 17:14 (New York)

   By Kristen McNamara
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Enron Corp.'s (ENE) retail sales unit defaulted on its
credit requirement in New England's wholesale power market this month, but the
event was neither unique nor newsworthy, the energy company and the
organization that developed the market's rules said Friday.

  The operator of the region's wholesale power market informed Enron Energy
Services last week that, for the third time in 12 months, it had traded a
greater volume of electricity than allowed by the bond it had posted and was at
risk for expulsion from New England's market.

  But it was administrative mixups, rather than financial problems, that
triggered the warning, which a few other companies have also received in the
past, the market's rulemaker said.

  "I can state with considerable confidence that there have been other
participants" that have defaulted on their credit agreements, "and it's never
been in the news," said David Doot, secretary and general counsel for the New
England Power Pool, which developed the policies governing the region's
electricity market. "My instinct is that this is blown way the hell out of
proportion."

  News of the Enron unit's default appeared in a trade publication and a major
metropolitan newspaper this week, as Enron's dealings with partnerships headed
by its former chief financial officer contributed to a plunge in the company's
stock and bond prices.

  Enron Energy Services never received word that it had defaulted on its
bonding requirement twice before, because both times it corrected the problem
within a day, spokeswoman Peggy Mahoney said.

  The letter sent by ISO New England, which operates the region's power market,
to notify the Enron unit of its third violation was addressed to the wrong
person, delaying the company's response, Mahoney said.

  "Clearly, it was an administrative error that we immediately took care of to
ensure that we would never exceed the volume limit," Mahoney said.

  The company resolved the problem by Oct. 19, Mahoney said. ISO New England
spokeswoman Ellen Foley confirmed Friday that the company had cured its
default.

  It's rare for a company to default three times, but it has happened on
occasion, Foley and Doot said.

  "I won't say it's commonplace, but I won't say it's unusual for a participant
to find itself out of compliance," Doot said. "Those things have in fact
happened from time to time."

  -By Kristen McNamara, Dow Jones Newswires; 201-938-2061;

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
2001-10-26 16:47 (New York)

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN

     Houston, Oct. 26 (Bloomberg) -- Enron Corp.'s lawsuit
alleging Microsoft breached a contract for broadband services
could temporarily block the largest software company's high-speed
Internet service in some U.S. regions.

     Microsoft said the dispute temporarily blocks the company
from providing the high-speed service in areas where Enron
provides broadband access, leaving MSN fully operational only in
the 14 states where Qwest Communications International Inc.
operates, said Bob Visse, director of marketing for MSN.

     Enron's lawsuit was filed yesterday. Microsoft had planned to
offer fast Internet access in 45 cities beginning yesterday to
give the largest software company access to potential customers in
29 million homes. Microsoft, the No. 2 U.S. Internet provider, is
making a push to win customers from AOL Time Warner Inc.

     ``We are trying to resolve the issues with Enron as quickly
as possible and at the same time we are evaluating other
providers,'' Visse said.

     Officials at Houston-based Enron, the largest energy trader,
did not immediately return calls for comment.

                         The Agreement

     Enron in June signed an agreement with Microsoft to provide
bandwidth for MSN Internet service. Under the agreement, Enron
isn't required to deliver operational broadband services if
Microsoft hasn't first provided a billing and ordering system, Dow
Jones newswire reported.

     Enron claims in its lawsuit that Microsoft failed to deliver
the ordering and billing system required in the initial phase of
the deal, Dow reported.

     Enron's lawsuit comes after Microsoft said in an Oct. 23
letter that Enron will have breached the contract if it hasn't
provided an operational bandwidth system by Oct. 25, allowing
Microsoft to recover damages.

     Shares of Redmond, Washington-based Microsoft fell 36 cents
to $62.20, while Enron shares fell 95 cents to $15.40.

--Joyzelle Davis in Los Angeles (213) 617-0582, or

Enron Executives Sent Requests for Details of Affiliate Profits
2001-10-26 15:36 (New York)

Enron Executives Sent Requests for Details of Affiliate Profits

     Houston, Oct. 26 (Bloomberg) -- Lawyers for a shareholder
suing Enron Corp. are asking executives of the largest energy
trader to disclose any income they made from their involvement
with affiliated companies that bought and sold Enron assets.

     Lawyers have made the requests to President Greg Whalley,
Vice Chairman Mark Frevert and Chief Financial Officer Jeff
McMahon and 83 other employees arrived at Enron's Houston offices
this week, said Paul Paradis, a partner in the New York law firm
Abbey Gardy. Requests also were sent to 17 Enron partnerships such
as Whitewing Management and Marlin Water.

     Paradis represents Fred Greenberg, an Enron shareholder who
is suing the company's board for allowing former Chief Financial
Officer Andrew Fastow to run partnerships that cost the company at
least $35 million in cash and $1.2 billion in lost shareholder
equity.

     The requests are aimed at determining if Enron executives
benefited financially from roles as officers and directors of
partnerships that bought and sold company assets. Enron formed at
least 18 such affiliated companies, listing executives and
employees as officers and directors of the partnerships, according
to Texas secretary of state records.

     Under Texas law, failure to respond to the document requests
will result in subpoenas being issued. Subpoenas could go out next
week if responses don't arrive by then, Paradis said. Enron
spokeswoman Karen Denne didn't respond to requests for comment
about the document requests.

     The executives earned no income from the partnerships, Enron
spokesman Mark Palmer has said. ``There are no financial interests
in the structures themselves for any Enron employee,'' Palmer
said. He said it's common for a company to name its executives to
the boards of affiliates.

                       Affiliates Have Debts

     Texas records show Chief Executive Officer Kenneth Lay,
Frevert, Whalley, McMahon and dozens of other people who list
their address as Enron's corporate headquarters serving as
officers and directors of limited liability companies and foreign
business corporations.

     The document requests ask Enron executives for information on
any form of compensation or benefit received from any of the
affiliates, including stock grants and options. They also ask the
executives to disclose any equity or partnership interests in the
affiliates.

     Enron formed many of the affiliates to buy company assets
such as power plants and natural-gas pipelines. That allowed Enron
to move debt associated with those projects off its books.

     The affiliates bought the assets with borrowed money. They
plan to repay the debt by eventually selling the assets. Enron
might be liable for any shortfall between the sales proceeds and
the debt. That could amount to at least $3.3 billion if the assets
don't generate any money, a remote possibility, the company has
said.

                            Few Answers

     Investors and analysts pressed Enron Chief Executive Officer
Kenneth Lay for details on the finances of the partnerships in a
conference call Tuesday.

     Today, Enron spokeswoman Karen Denne didn't respond to
questions about one of them, ES Power 3 LLC.

     Texas records list 78 Enron executives and employees as
officers, directors and managers of ES Power 3 LLC. The entire
Enron board is also listed.

     Shares of Enron $1.15 to $15.20 in late trading.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Enron Still Target in California Amid Other Problems (Update1)
2001-10-26 16:15 (New York)

Enron Still Target in California Amid Other Problems (Update1)

     (Updates with closing share price in last paragraph.)

     Sacramento, California, Oct. 26 (Bloomberg) -- Enron Corp.,
facing an inquiry by federal securities regulators into
partnerships run by the former chief financial officer, remains a
target of investigations and lawsuits in California.

     California lawmakers and regulators have accused power
providers of manipulating the state's energy market to raise
prices. Enron, the biggest energy trader, and other power sellers
have denied the charges repeatedly.

     Next month, a California Senate committee investigating the
power market plans to hold a hearing to determine if Enron and
other generators are complying with subpoenas for trading
documents. Enron has been filing documents in Sacramento,
California.

     ``They are still putting documents in their depository, and I
don't think they've completed that process,'' said Alexandra
Montgomery, a consultant to the committee. It ``remains to be
seen'' whether Enron is complying with its subpoena, she said.

     The suits and inquiries came after wholesale power prices in
California soared, leaving the state's two largest utilities
insolvent. Under California's plan to open its electricity market
to competition, the utilities of PG&E Corp. and Edison
International weren't allowed to pass rising costs to customers.

     ``I know that we're doing our best to comply with what the
committee is asking for,'' Enron spokesman Mark Palmer. ``We are
putting documents in the depository, and we're looking forward to
a speedy resolution.''

     Shares of Houston-based Enron have fallen by more than half
since Oct. 16. The company ousted Andrew Fastow as the chief
financial officer Wednesday amid a U.S. Securities and Exchange
Commission inquiry into a partnership he ran that cost Enron $35
million.

                            Grand Jury

     Enron also is one of the companies being investigated for
civil and criminal violations by California Attorney General Bill
Lockyer, who convened a grand jury in June.

     Lockyer has been criticized by Enron officials for telling
the Wall Street Journal in May that he would like to put Enron
Chairman Kenneth Lay in ``an 8 x 10 cell that he could share with
a tattooed dude who says `Hi my name is Spike, honey.' '' Lockyer
later apologized for the remark.

     The attorney general's investigation is proceeding, Lockyer
spokeswoman Sandra Michioku said. Michioku said she didn't know
when civil or criminal charges against Enron or other power
providers might be filed.

     ``Our investigation is still being pursued,'' she said. ``We
had to go to court to get Enron to turn over documents, so that
slowed things down a bit.''

     Enron's Palmer said he didn't know the status of the attorney
general's investigation.

     ``I think the attorney general demonstrated his willingness
to take a fair and impartial look a long time ago when he made his
vulgar and unfounded remarks about our chairman,'' Palmer said.

                           More Lawsuits

     Enron, along with other major power providers such as Duke
Energy Corp. and Dynegy Inc., face at least five lawsuits alleging
they manipulated California energy prices in violation of
antitrust laws.

     The cases, which include separate complaints filed by the
City of San Francisco, California Lieutenant Governor Cruz
Bustamante and various consumers, currently are in state courts
awaiting a coordination proceeding, said Michael Aguirre, a lawyer
representing Bustamante. The lawsuits should be assigned to a
judge by the end of next month, he said.

     If the complaints succeed, the companies might be ordered to
repay profits from any illegal activities and pay fines, including
triple damages.

     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,
declining for the eighth day in a row. The shares have fallen 80
percent in the past 12 months.

--Daniel Taub in Los Angeles, (323) 801-1261 or

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
2001-10-26 16:18 (New York)

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)

     (Adds investor comment in fourth paragraph.)

     Houston, Oct. 26 (Bloomberg) -- Enron Corp. bonds and shares
fell after the largest energy trader tapped a $3 billion credit
line because it has been shut out of the leading market for low-
interest, short-term loans.

     The company's stock has fallen 54 percent in the past 14 days
after investors questioned its transactions with affiliates run by
Enron's former chief financial officer. The shares fell 95 cents,
or 5.8 percent, to $15.40 today.

     Chief Executive Officer Kenneth Lay has failed to reassure
investors that the company's credit rating won't be cut, investors
said. Enron can no longer borrow in commercial paper markets,
where short-term loans carry lower rates than banks offer.

     ``Do they have the financial flexibility they once had? No,''
said John Cassady, who helps manage $3 billion in bonds at Fifth
Third Bancorp. ``People are questioning the credibility of
management.''

      The company will use its credit line to pay off $2.2 billion
in commercial paper it has outstanding, Enron spokesman Mark
Palmer said.

                            Bonds Drop

     Enron's 6 3/4 percent bonds, which mature in 2009, declined 1
1/2 points to a bid of 84 cents on the dollar and an offer of 86
cents. At that price, the bonds, which carry a rating of ``BBB+,''
yield 9.53 percent.

     Investors have grown concerned that the company's credit
rating will be cut after $1.01 billion in third-quarter losses
from failed investments. Enron needs good credit to raise cash
daily to keep trading partners from demanding collateral and to
settle transactions.

     Enron's decision to tap its credit line was ``a smart
financial move,'' said Stephen Moore, a vice president at Moody's
Investors Service who follows the company. ``It took away the
hassle and time-consuming nature of rolling commercial paper and
insured access to capital.''

     Though Enron's bonds have investment-grade ratings, their
yield at current prices is higher than those of industrial bonds
that carry junk ratings. According to Bloomberg data, companies
with ``BB'' ratings pay on average 9.16 percent to borrow for
seven years.

     A lower credit rating may also force Enron to buy back
holdings in other partnerships with its stock, diluting the value
of Enron investors' stock.

     Partnerships called Whitewing, Marlin and Yosemite own Enron
assets they bought with borrowed money. Enron sold the assets to
the partnerships to keep related debt off its books. The
partnerships plan to repay the borrowed money by selling the
assets.

                         Other Liabilities

     If Enron loses investment-grade rating, the borrowed money
comes due earlier, leaving less time for the partnerships to find
the best price for the power plants and other assets. Enron would
have to make up any shortfall between what the assets would sell
for and the amount of the debt.

     One way would be issuing common shares to exchange for Enron
preferred convertible shares held by the partnerships. That would
thin out the holdings of every other investor.

     Of the two main bond-rating companies, Moody's and Fitch have
Enron on watch for possible downgrade, and Standard & Poor's
lowered Enron's long-term credit outlook to negative. Egan-Jones
Rating Co. today lowered its rating on Enron's debt to ``BB+,''
one notch below investment grade, from ``BBB-.''

     Enron's liabilities associated with the partnerships amount
to at least $3.3 billion, the company has said.

     Enron ousted Chief Financial Officer Andrew Fastow on
Wednesday amid a Securities and Exchange Commission inquiry into a
partnership he ran that cost the company $35 million in direct
losses. Enron also bought back 62 million shares from the
partnership, reducing shareholder equity by $1.2 billion.

     ``It looks like the guy who was supposed to do everything for
the benefit of shareholders was running partnerships for the
benefit of himself,'' Fifth Third's Cassady said.

     Jeff McMahon, head of Enron's industrial markets group, was
named CFO in a bid to restore investor confidence, Lay said in a
statement.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees

10/26/2001
Business Wire
(Copyright (c) 2001, Business Wire)

SEATTLE--(BUSINESS WIRE)--Oct. 26, 2001--Seattle's Keller Rohrback L.L.P. is currently investigating potential ERISA claims on behalf of participants and beneficiaries of Enron's retirement and 401(k) plans.
The investigation period covers January 2000 through October 2001. The investigation focuses on concerns that, under the law interpreting ERISA, Enron and its plan administrators may have breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, it may be alleged that Enron and the plan administrators may have withheld and concealed material information, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in company stock and the Plans. This investigation is being conducted in light of recent events.
On Oct. 16, 2001, Enron surprised the market when it announced that the Company was taking "non-recurring charges totaling $1.01 billion after-tax, or ($1.11) loss per diluted share," in the third quarter of 2001. Enron later revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships, controlled by Enron's CFO, and that the Company would be eliminating more than $1 billion in shareholder equity as a result of its unwinding of the investments. As this news began to be assimilated by the market, the price of Enron common stock dropped significantly. In addition, several recently filed securities suits allege that Enron executives engaged in extensive insider trading, gaining millions of dollars in personal proceeds. Enron retirees have lost a substantial portion of their retirement earnings due to the drop in value of their retirement assets.
If you are a member of an Enron retirement plan, wish to discuss this announcement, or have information relevant to the investigation, you may contact paralegal Liza Catabay, or any member of our team (Britt Tinglum, Liza Catabay, or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Seattle's Keller Rohrback L.L.P. has successfully represented shareholders and consumers in class action cases for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Liza Catabay, 800/776-6044 investor@kellerrohrback.com www.SeattleClassAction.com
15:16 EDT OCTOBER 26, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


I assume each person is taking appropriate action with regard to disabling
user ID's and/or adjusting credit limits accordingly . . .

Dave

	From:  Tana Jones @ ECT                           04/17/2000 11:14 AM

To: Frank L Davis/HOU/ECT@ECT, David Forster/Corp/Enron@Enron, Tom
Moran/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
cc:

Subject: Assignment of ETA

Effective March 1, 2000, Aquila Energy acquired the assets of USGT (U.S. Gas
Transportation Inc.) , with the acquiring entity being USGT/Aquila L.P.  USGT
has assigned the Electronic Trading Agreement it executed with ENA to
USGT/Aquila L.P.  A copy of the assignment will be forwarded to Frank Davis.


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 02/24/2000
06:35 PM ---------------------------

Mandy MacKinnon
02/24/2000 03:10 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Koch Midstream Services

FYI,  I was watching the position manager for ENA and noticed some business
transactions on this pipeline.  This pipeline was bought by Duke Energy Field
Services effective 8/1/99.  All HPLC transactions were moved to that pipe at
that time.  The CES transactions that are current on this pipe should be
moved to Duke Energy Field Services.  I believe the pipe was renamed when
they bought it back in June or July.

If you have any questions, or want to verify this information, I would check
with the Global contracts dept.


----- Forwarded by Gerald Nemec/HOU/ECT on 02/06/2001 02:53 PM -----

	"David Locascio" <dlocascio@bracepatt.com>
	01/30/2001 06:22 PM

		 To: <kcglc@alltel.net>, <dwight.beach@enron.com>
		 cc: "Jay Sonnenberg" <jsonnenberg@bracepatt.com>, <gerald.nemec@enron.com>,
<apalizzi@yahoo.com>
		 Subject: O&M Agreements

Attached please find the execution copies of both O&M Agreements.  The only
change I have made is the one we discussed at the end of Section 8.4.  Please
let me know if you wish to discuss.

Jay, unfortunately, I would just print out these documents in lieu of the
hard copies I previously gave you. However, keep and use the budget schedules
I gave you.

Best regards.

David W. Locascio
Bracewell & Patterson, L.L.P.
711 Louisiana, Suite 2900
Houston, Texas  77002-2781
phone: 713.221.1396
fax:      713.221.2134
email: dlocascio@bracepatt.com

CONFIDENTIALITY NOTICE
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - Execution Copy of O&M AGREEMENT for LUMBERTON.doc
 - Execution Copy of O&M Agreement for Elizabethtown.doc


I called you last night with Robin, to tell you the stunning news.
Effective next week, V. Michael McKay will be over us.  He is going to take
us to the next level!  Can you believe this?  What are your thoughts?


Forwarded at the request of Sue Landwehr:

Gang---per Linda's request on our call this afternoon, here is a list of
some of the upcoming annual/summer meetings  where members of Congress or
members of the Administration may be speaking or will be attending.
Please call me directly if you have any questions or thoughts beyond our
normal Monday afternoon discussions.

NARUC----July 14 thru 17 in Seattle.  Steve Kean is speaking at one
session.  This event will get lots of media.

RGA--July 15 thru 16 in Macinac Island, Michigan.  Ten to twelve governors
attending.  Landwehr will be covering.

ALEC----August 2-5? in New York City.  Janel Guerrero and Barbara Hueter
will be primary coverage, with Jean Ryall (Enron state gov affairs for
Texas) also attending.

NGA (National Governors Association)----August 4 thru 7 in Providence Rhode
Island.  Landwehr will be covering.  No energy sessions currently on the
agenda.

WGA---August 12 thru 14 in Coeur D'Alene, Idaho.  Landwehr has primary
coverage, with Kaufman backing up.  There will be signficant attention on
energy issues in sessions and resolutions.


What are some good interview questions? Poll your co-workers.

cd


-Had to share these...SRS

 - airolane.jpg
 - bombtech.jpg
 - fortune.jpg
 - hotdog.jpg
 - watchp.jpg
 - newad.jpg


Greetings everyone-
With a week and a half to go until our second session, I wanted to check in
and ask you to begin thinking in your learning teams about how you want to
share the information you have been gathering with the larger group.

On Friday, Nov 2, each team will be allocated 30 minutes to report on what
you have learned, followed by 15 minutes of plenary Q&A/discussion. I
encourage each team to be as creative as possible in your report-outs. Keep
in mind that most adults learn best experientially versus through straight
information download. Thus, if you can find a way to invite the larger group
to sample the learning experience that you had, these sessions will be all
the more effective AND enjoyable. As an example, you could select two or
three key moments -- from a meeting, interview or learning journey -- and
re-enact them for the group. Or bring in any physical "artifacts" you might
have gathered on your learning experiences. As I mentioned in our first
session, the diversity learning team last year presented the play "Let's
Talk" as their report-out. It was very effective as it allowed all members
of the group to experience for just a few minutes the impact of
discrimination and prejudice and moved us much very quickly to shared
understanding of why this issue is so important on both a community and
personal level, and why they wanted to do something about it.

In these report-outs you don't need to cover every piece of information your
team gathered. Focus on the things you believe will help the whole group in
its decision making around what ACTION(S) you want to take to move Houston
forward. In general, a good guide is to focus on the things you learned that
surprised you and perhaps challenged your pre-existing assumptions.

Remember that you have your chat rooms that Marilou organized as a great way
to communicate. I am available to help in any way I can, so please don't
hesitate to call if you have questions: 978/281-0744.

We'll be sending out shortly a follow-up email with directions to the
Tremont Hotel in Galveston and the agenda.

I look forward to being with you all again very soon!
Margaret

Margaret C. Vaughan
Generon Consulting
900 Cummings Center
Suite 312U
Beverly, MA 01915 USA
978/232-3500, ext. 37


Below is the ISDA in electronic format as you requested.  This draft is
several years old and if you are putting a new one in place I would suggest
you start from the newest version of the form and just use this to use as a
blackline version.

	Ian Brungs@ENRON
	05/14/2001 01:31 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Justin Boyd/LON/ECT@ECT
		 Subject: ISDA with ALCOA

Hello Tana,

I have spoken with the lawyer from Alcoa and she is fine with us viewing the
ISDA in place. In fact we already have a copy but I need it in Electronic
format. If you could send an electronic copy it woud be greatly appreciated.

Thanks

Ian


let me know if you get it this time.
----- Forwarded by Jeff Dasovich/NA/Enron on 01/02/2001 07:09 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	01/02/2001 05:28 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike M Smith/HOU/EES@EES,
mpalmer@enron.com, Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul
Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L
Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard
Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert
Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES,
Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES,
skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha
Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim
Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S
Bradford/HOU/ECT@ECT
		 Subject: DRAFT of materials for Governor

Greetings:

Attached is the draft.  I've attempted to capture everyone's comments.  The
only piece that is not likely to go this evening is the piece providing
comments on the Governor's specific proposals.  That will likely go first
thing tomorrow morning.  You'll note that only one of the Governor's
proposals currently has any comments attached to it.  Comments on the
Governor's proposals are appreciated.  The remainder of the materials will go
to the Governor's staff later this evening; so any and all comments on those
portions are welcomed and appreciated.  Thanks to all for the assistance,
particularly in light of the holiday.

Best,
Jeff


THE TECH SECTOR IS GETTING THE SHIT KICKED OUT OF IT.

I DON'T HAVE ANY MO, UNFORTUNATELY I BOUGHT XEROX!

YOU MIGHT WANT TO STAY OUT OF THE WAY OF THE MARKET.

NORTEL IS DOWN $19 / SHARE

CHRIS


FYI:

Catherine Wright has withdrawn herself from the interview selection. She will not be coming in this afternoon (2pm) for her admin interview.

If you have any questions, please let me know.

Thanks,
Grace


Tana, the only comment I have is that the term "Confirmation" in paragraph 2
should be "Confirmation Letter" as that is the defined term under our
master.  Otherwise, it looks fine.  If you want to send it to me to get it
executed, I will need to initial it before Jon McKay will execute it in any
event.

Thanks

	Enron North America Corp.

	From:  Tana Jones                           04/27/2000 08:15 AM

To: Greg Johnston/CAL/ECT@ECT
cc:
Subject: Re: Need your help

Would you like to sign off on this form of assignment since I am going to
have to send it up to Canada for signature.  Much thanks!


To:KAMINSKI, WINCENTY
Email:vkamins@enron.com - 7138533848
?
Enron Wholesale Services - Office of the Chairman
?
From:??Mark Frevert, Chairman & CEO
??????Greg Whalley, President & COO
??????Mark Haedicke, Managing Director & General Counsel
?
Subject:??Confidential Information and Securities Trading
?
Enron Wholesale Services ('EWS') maintains official Policies and Procedures
Regarding Confidential Information and Securities Trading ('Policies and
Procedures'), which have been revised as of November 15, 2000 to reflect the
new EWS structure.  These policies and procedures are intended to allow us
simultaneously to pursue our diverse businesses and to protect confidential
information, our reputation for integrity, and EWS and its employees from
legal liability.
?
You are required to become familiar with, and to comply with, the Policies
and Procedures.  The newly revised Policies and Procedures are available for
your review on LegalOnline, the new intranet website maintained by the Enron
Wholesale Services Legal Department.  Please click on the attached link to
access LegalOnline:
?
http://legalonline.corp.enron.com/chinesewall.asp
?
You must certify your compliance with the Policies and Procedures within two
weeks of your receipt of this message.  The LegalOnline site will allow you
to quickly and conveniently certify your compliance on-line with your SAP
Personal ID number.  If you have any questions concerning the Policies or
Procedures, please call Lance Schuler at extension 3-5419, Mark Haedicke at
extension 3-6544, Alan Aronowitz at extension 3-3214, Bob Bruce at extension
5-7780 or Donna Lowry at extension 3-1939.


Thank you for your e-mail.  Mr. Skilling is traveling for the remainder of
this week, but will be back in the office on Monday.

Thank you,
Joannie Williamson
713-345-7774

Mbkuntz@aol.com on 05/16/2001 05:04:47 PM
To: <jeff.skilling@enron.com>
cc: <judyaspen@aol.com>

Subject: Enron Candidate

Jeff,

Judy Lay Allen, an associate of yours on the Federal Reserve board, spoke
with Joannie Williamson today regarding my desire to interview at Enron.

I am a graduate of Princeton University with two years experience in
financial modeling and communications.   Towards assessing my skill set
relative to peers, I took and received a 740 on my GMAT.  I have also
interned in a gas exploration company and am familiar with the industry;
likewise, I have worked with clients in telecommunications and am aware of
the work Enron is doing in the bandwidth trading/pooling field.

I am aware of Enron's executive training/business analyst programs and am
highly interested in exploring opportunities therein.  I am in Houston
through Friday evening and, given the short notice, would be grateful for any
opportunity to meet with the appropriate person any time Thursday or Friday.

I look forward to interviewing and applying my experience at Enron.

Best regards,
Michael Kuntz
917-838-6364

 - Resume (MK) 5-1-01.doc


Well, I win the award for ass of the week and probably the year.  I really
can't begin to apologize enough for Tuesday.  I won't offer an excuse.  Guys
on the Central desk asked me a question as soon as I hung up with you, and
before I knew it, it was around 2:30pm.  But the worst part is, I didn't
realize what I had done until later the next day.  It was disrespectful and I
sincerely apologize.  I do have a conflict tomorrow.  And I will understand
if you want to stop the sessions.  Thanks.

DG


If you cannot read this email, please click here.

Earnings.com - PMCS Upgrade/Downgrade History
Earnings.com	[IMAGE]

	[IMAGE]?View Today's Upgrades/Downgrades/Coverage Initiated
	Briefing
	PMC - Sierra, Inc. (PMCS)

	Date
	Brokerage Firm
	Action
	Details
	05/14/2001
	Freidman, Billings
	Coverage Initiated
	at Accumulate

	04/23/2001
	Merrill Lynch
	Downgraded
	to Nt Neutral  from Nt Accum

	04/20/2001
	Robertson Stephens
	Upgraded
	to Buy from Lt Attractive

	04/20/2001
	J.P. Morgan
	Upgraded
	to Lt Buy from Mkt Perform

	04/20/2001
	Frost Securities
	Upgraded
	to Strong Buy from Buy

	04/20/2001
	Goldman Sachs
	Upgraded
	to Trading Buy from Mkt Outperform

	04/19/2001
	Salomon Smith Barney
	Upgraded
	to Buy from Outperform

	04/12/2001
	J.P. Morgan
	Downgraded
	to Mkt Perform  from Lt Buy

	03/22/2001
	Robertson Stephens
	Downgraded
	to Lt Attractive  from Buy

	03/20/2001
	Frost Securities
	Coverage Initiated
	at Buy

	03/14/2001
	Needham & Company
	Coverage Initiated
	at Hold

	03/12/2001
	Salomon Smith Barney
	Downgraded
	to Outperform  from Buy

	03/06/2001
	Banc of America
	Downgraded
	to Buy  from Strong Buy

	02/20/2001
	CSFB
	Downgraded
	to Hold  from Buy

	01/29/2001
	Soundview
	Upgraded
	to Strong Buy from Buy

	01/26/2001
	Warburg Dillon Reed
	Downgraded
	to Hold  from Strong Buy

	01/26/2001
	S G Cowen
	Downgraded
	to Neutral  from Buy

	01/26/2001
	J.P. Morgan
	Downgraded
	to Lt Buy  from Buy

	01/26/2001
	Robertson Stephens
	Downgraded
	to Buy  from Strong Buy

	01/26/2001
	Adams Harkness
	Downgraded
	to Mkt Perform  from Buy

	01/26/2001
	Banc of America
	Downgraded
	to Buy  from Strong Buy

	01/26/2001
	Bear Stearns
	Downgraded
	to Attractive  from Buy

	01/26/2001
	CSFB
	Downgraded
	to Buy  from Strong Buy

	01/26/2001
	Goldman Sachs
	Downgraded
	to Mkt Outperform  from Recomm List

	11/30/2000
	Lehman Brothers
	Downgraded
	to Neutral  from Outperform

	11/30/2000
	Kaufman Bros., L.P.
	Downgraded
	to Hold  from Buy

	11/16/2000
	Merrill Lynch
	Downgraded
	to Nt Accum  from Nt Buy

	11/02/2000
	Soundview
	Downgraded
	to Buy  from Strong Buy

	10/25/2000
	Lehman Brothers
	Downgraded
	to Outperform  from Buy

	10/20/2000
	J.P. Morgan
	Coverage Initiated
	at Buy

	10/17/2000
	Paine Webber
	Upgraded
	to Buy from Attractive

	10/05/2000
	William Blair
	Coverage Initiated
	at Lt Buy

	06/06/2000
	S G Cowen
	Upgraded
	to Buy from Neutral

	Briefing.com is the leading Internet provider of live market analysis for
U.S. Stock, U.S. Bond and world FX market participants.

	, 1999-2001 Earnings.com, Inc., All rights reserved
	about us | contact us |  webmaster | site map
	privacy policy | terms of service


i'm available

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Monday, October 29, 2001 8:12 AM
To:	Dasovich, Jeff; Mara, Susan; Tribolet, Michael; Mellencamp, Lisa; Curry, Wanda; Williams, Robert C.; Mike Day (E-mail); Swain, Steve
Cc:	Noske, Linda J.; Shapiro, Richard; Sanders, Richard B.; Sharp, Vicki
Subject:	FW: Proposed SCE Negotiation Strategy - MEETING TODAY AT 2pm Houston Time

To discuss this outline and our issues list, can people attend a 2pm Houston Time call.  The meet and confer may be on-going, but maybe either Jeff or Sue can jump off.

Linda Noske will be sending out a call-in number.

Thanks,

Jim

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Monday, October 29, 2001 8:04 AM
To:	Dasovich, Jeff; Mara, Susan; Tribolet, Michael; Mellencamp, Lisa; Curry, Wanda; Williams, Robert C.; Mike Day (E-mail)
Cc:	Shapiro, Richard; Sanders, Richard B.; Sharp, Vicki
Subject:	Proposed SCE Negotiation Strategy

Following last week's meeting, here is my recommendation on how to proceed with SCE.

1.	Form Enron Negotiation Team

	My recommendation is to use the same team we used with PG&E + Jeff Dasovich.  My understanding was that Lisa M. was the lead negotiator - I would not change this.  Jeff should only be there to make introductions.

2.	Meet & Confer (10/29)

	Sue Mara and Jeff Dasovich will listen and report back to everyone on what happens.

3.	Reformed Stipulation

	I would propose that we take a wait and see approach to this document.  Based on Dasovich's idea to get together with SCE on Thursday, maybe let this ride.

4.	Meeting

	My understanding is that (Jeff D. please correct) SCE can meet with us this Thursday.  Can everyone make it that needs to be there?  Probably meet in California.  We should put the laundry list on the table.

Please let me know what else we need to discuss or if anyone disagrees.

Thanks,

Jim


Hi Rebecca,

Is email from around 400 yesterday the final version of the payment schedule
for the LM's?  I need to get the facility agreements organized, and that
information is obviously important.

Thanks,

Kay