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If you would like kim.ward@enron.com to be removed from this list for any reason, please reply with the word "remove" in the subject line.


Kay,

Attached are blacklined version of the CA Energy Development breakout
agreements.  They show the changes made from the original form agreement
to the latest version of each agreement, which I sent out to you about
an hour ago.  Thanks, Chris
 <<Comparison of 554888.6 to 83277.2.DOC>>  <<Comparison of 554888.6 to
83242.3.DOC>>
 - Comparison of 554888.6 to 83277.2.DOC
 - Comparison of 554888.6 to 83242.3.DOC


FYI
---------------------- Forwarded by Leslie Reeves/HOU/ECT on 01/22/2001 10:48
AM ---------------------------

<Terri_L_Ponce_de_Leon@calpx.com> on 01/19/2001 07:11:03 PM
To: Market_Participant_AB1@calpx.com, Market_Participant_CD1@calpx.com,
Market_Participant_CD2@calpx.com, Market_Participant_EG1@calpx.com,
Market_Participant_HJ1@calpx.com, Market_Participant_KL2@calpx.com,
Market_Participant_OR2@calpx.com
cc:
Subject: Important CalPX Participant Notice

The California Power Exchange issued the following press release this evening,
announcing plans to begin downsizing its operations.

Please be assured that we remain fully capable of assisting you and your
company
during this time of transition.

On Tuesday, January 23, 2001, we plan to have a participants' conference call
at
which time we expect to have to more details, and will be available to answer
any questions.  Conference call details will be sent on Monday, January 22,
2001.

In the meantime, if you have any questions or concerns, please do not hesitate
to call upon us.  Thank you for patience and understanding.

(See attached file: CALPX PRESS RELEASE 1.18.01.doc)

 - CALPX PRESS RELEASE 1.18.01.doc


Miss Tana ---
Would you give me a heads up when this customer's profile has been changed?
Thanks,
Griff
x3-5753

 -----Original Message-----
From:  Guidroz, Walter
Sent: Thursday, May 03, 2001 9:25 AM
To: Gray, Mary Griff
Cc: Moore, Kathy M.; Moran, Tom
Subject: RE: Sierra Pacific Power Company (adm71112) wanting tenure of 6
months

Griff, I've updated the profile for both Sierra Pacific and Nevada Power to
reflect a 24-month tenor.  Tana is out so I'm not sure exactly when this will
go through.

Thanks for your note; I've enjoyed working with you too!  Yes, I'll be
working as a geologist but also with an element of project management over
two large offshore field complexes as well as a pseudo-team leader over some
lesser experienced geologists and geophysicists.  It should be interesting!

Take care.

Walter

 -----Original Message-----
From:  Gray, Mary Griff
Sent: Thursday, May 03, 2001 7:21 AM
To: Guidroz, Walter; Moran, Tom
Subject: FW: Sierra Pacific Power Company (adm71112) wanting tenure of 6
months

I talked to Stephanie Sever yesterday and she said that this was back in your
court.  When will the US gas and power products get revised from one month to
24?  I'll be out of the office tomorrow (Friday, the 4th), so let Kathy Moore
know the status and she'll update the ticket on this customer.

Walter, good luck to you.  Are you going back to the geology area?

Thanks for being such a great person to work with, Walter.
Griff

 -----Original Message-----
From:  Guidroz, Walter
Sent: Monday, April 30, 2001 2:56 PM
To: Gray, Mary Griff
Cc: Moran, Tom
Subject: RE: Sierra Pacific Power Company (adm71112) wanting tenure of 6
months

Griff, we'll go 24 months on both this counterparty as well as on Nevada
Power.  I'll include this in today's approval spreadsheet.  Thanks!

Walter

 -----Original Message-----
From:  Gray, Mary Griff
Sent: Friday, April 27, 2001 10:40 AM
To: Guidroz, Walter
Cc: Moran, Tom
Subject: Sierra Pacific Power Company (adm71112) wanting tenure of 6 months

Hey guys,

Want do you know about this request?

Thanks,
Griff


Attached is the Weekly FERC Electric Report for week ending March 16, 2001.


Michelle, I thought I would pass this along to make you aware that now EOG
isn't going to supply the EFM at their new location.  Given that they have
yet to contribute the funds requested for our efforts, I don't think we
should spend the money to put measurement out there until they send us the
$10,000.  Maybe we should ammend the interconnect agreement to change the
estimate back to the $30,000 we originally requested.

Thanks, Bob
---------------------- Forwarded by Bob Burleson/ET&S/Enron on 11/08/2000
07:05 AM ---------------------------
Mike McCracken   11/07/2000 05:17 PM

To: Darrell Schoolcraft/ET&S/Enron@ENRON
cc: Bob Burleson/ET&S/Enron@ENRON, Laura Kunkel, Earl
Chanley/ET&S/Enron@ENRON

Subject: EOG Pronghorn Location

Darrell
Here is some info on the mileposts on the connects to the West Texas Lateral
and Loop

    WT Survey WT Milepost  WT Loop Surv. WT Loop Milepost
WT-1    0+00  0

10" Monument & Start of 30" 554+14  10.5   0+00  0

4" Getty "24" (Highlands) 612+14  11.6
 Disconnected
8" Santa Fe P. G. (Highlands) 694+09  13.1   139+43  2.6

6" Yates Pronghorn (Highlands) 929+97  17.6
 Disconnected, point that EOG Pronghorn is connecting to
Valve 211   1019+54 19.3   463+96  8.8

10" Bell Lake (Highlands) 1346+17 25.5

EOG Triste Draw  1544+77 29.3

4" HNG Bell Lake 2 (EOG) 1623+93 30.8

8" Bell Lake Loop (EOG) 1624+24 30.8

On the EFM / SCADA, I talked to Dirk Ellison with EOG. He contacted Jerry
Ball and their reply was for us to go ahead and get our own equipment.
Laura's work order doesn't have anything about EFM, only the costs to inspect
the construction and their connection to our tap valve. Laura will check on
the responsibility of the EFM equipment tomorrow.

Thanks
Mike


Dear Vince,

That's fine - I didn't know if yours had changed as Grant's did - I have
your earlier part and that has already been type set.

Best regards.

Chris.

----- Original Message -----
From: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
To: "Chris Strickland" <chris@lacima.co.uk>
Cc: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
Sent: Tuesday, August 29, 2000 5:18 AM
Subject: Re: Chapter

>
>
> Chris,
>
> My part has not changed for some time (since early July).
>
> I sent  the last vintage of corrections  to you when I was in Sydney.
> You can send the version you consider final to us just to double check.
>
> I took the liberty of sending our chapter to Darrell Duffie and he liked
it.
> What is more important he did not find any error.
>
>
> I shell send you my comments on the article for Robin in a day or so.
>
> Vince
>
>
>
>
>
>
> "Chris Strickland" <chris@lacima.co.uk> on 08/28/2000 02:55:31 PM
>
> Please respond to "Chris Strickland" <chris@lacima.co.uk>
>
> To:   <vince.j.kaminski@enron.com>, <grant.masson@enron.com>
> cc:
> Subject:  Chapter
>
>
>
> Hi Vince,
>
> How are things with you? Well I hope. Do you have  the latest version of
your
> part of chapter 3? (I think GRant has sent thru a  seperate, updated
version to
> you, which has been typeset). Everything else has  been tied up and we
will go
> with the version we have, unless we hear  otherwise.
>
> Many thanks and best regards.
>
> Chris.
>
>
>
>
>
>
>
>


Dan Douglass summarized this.  This really puts CA and the ISO on notice that
they cannot confiscate the power as they seem ready to do -- FERC reiterates
that the generators can sell power wherever they want because the cap is a
cap on ISO purchases.  ANd if the ISO want to set a sale price cap it has to
file with FERC, wait 60 days and amend its contract
---------------------- Forwarded by Susan J Mara/SFO/EES on 08/01/2000 01:01
AM ---------------------------

"Daniel Douglass" <douglass@ArterHadden.com> on 07/31/2000 07:27:24 PM
To: <peter.bray@att.net>, <JBarthrop@electric.com>, <mnelson@electric.com>,
<rschlanert@electric.com>, <Bruno_Gaillard@enron.com>, <kmagrude@enron.com>,
<mpetroch@enron.com>, <susan_j_mara@enron.com>, <athomas@newenergy.com>,
<bchen@newenergy.com>, <Jeff.Hanson@phaser.com>, <anchau@shellus.com>,
<andrew.madden@utility.com>, <ben.reyes@utility.com>,
<chris.king@utility.com>, <david.bayless@utility.com>
cc:
Subject: FERC Order on Morgan Stanley Complaint Against ISO

We have good news on the ISO price caps front.  The FERC has made it
clear that ISO does not have the ability to mandate that generators sell to
ISO at its price caps and that the proper response to inadequate supply is to
lift the price caps.

On Friday, the FERC issued its Order on Complaint in connection with the July
10 complaint filed by Morgan Stanley Capital Group Inc. ("MS").  As you may
recall, MS requested FERC to issue a stay of the ISO's maximum purchase price
authority and to direct the ISO to reverse any price cap reductions.  MS
sought Fast Track processing pursuant to Rule 206(h), which was granted by
FERC on the grounds that the complaint "warrants expeditious action."

As a quick background summary for you, last November, FERC issued an order
approving Tariff Amendment 21 which extended ISO's price cap authority
through 11/15/00.  That order stated that the ISO "maximum purchase price was
not a cap on what the seller may charge the ISO, but a cap on what the ISO
was willing to pay."  The Commission said that sellers dissatisfied with the
price cap could "choose to sell those services into the California Power
Exchange or bilateral markets."

FERC notes in Friday's Order that the 6/28 the ISO's Board resolution lowered
the caps to $500 and ISO further directed that, "To the extent permitted by
law, regulation and pre-existing contract, Management shall direct generators
to bid in all their capacity when system load exceeds 38,000 MW."

The MS complaint alleged that the cap reduction was unlawful and would,
"threaten the stability and integroty of the marketplace."  MS also requested
an emergency technical conference to examine ISO's justification for the
price cap reduction.

FERC denied the MS stay request, as well as its request that the $750 maximum
purchase price be reinstated.  The Commission reiterates that it is not
approving a cap on sellers' prices, because they can sell at whatever price
they want.  Rather ISO has simply stated the maximum price it is willing to
pay.  "Because sellers are not required to sell to the ISO, the ISO cannot
dictate their price."

Importantly, however, FERC also states that, "ISO has no more or less ability
to procure capacity and energy than any other buyer of these services....if
the ISO is unable to elicit sufficient supplies at or below its announced
purchase price ceiling (because generators are free to sell elsewhere if they
choose), it will have to raise its purchase price to the level necessary to
meet its needs."  [Emphasis added]  FERC then notes that this may lead to an
increase in Out of Market ("OOM") calls and that OOM calls are not subject to
a maximum purchase price.

Also, with regard to the ISO's resolution stating that generators must bid
their capacity into the ISO markets when system load exceeds 38,000 MW, FERC
states clearly that, "such a requirement is not permitted by our November  12
Order and the ISO tariff."  [Emphasis added]

FERC goes on to say that any requirement to sell to ISO in conjunction with a
maximum purchase price would require significant revisions to ISO's market
rules, which could not be made effective without a corresponding amendment to
ISO's tariff.  This would require 60 days' advance notice, "and could not be
implemented prior to Commission approval.  As stated above, our November 12
Order was clearly based on the premise that the proper response to inadequate
supply (due to a low maximum purchase price) is to raise the maximum purchase
price."

ISO is then "put on notice that any amendment to mandate sales must be
accompanied by a demonstration that this extreme measure is the proper
response to low supplies in the ISO markets."

Concurrences were filed by Commissioners Massey and Hebert.  Massey suggests
that the state has to facilitate solutions to market issues, such as risk
management tools, removing constraints on hedging opportunities, introducing
real time pricing through real time metering and expediting approval of new
generation and transmission projects in California.  Hebert says that the
previous November Order tried to "straddle the fence" and that, "Today, the
Commission at least starts to lean slightly in the right direction of
recognizing that we have a role."  He then reiterates his preference for
removing all price caps.  He also suggests that, "Getting to the bottom of
the problem, in my view, requires us to begin a proceeding to rescind our
approval of the ISO as operator of the California grid.  The record supports
such a move."  He refers approvingly to the Collins resignation letter,
stating that it, "thoughtfully outlines consequences to the market of a
return to 'command and control.' "  Hebert states that, "The independence of
the ISO's governing structure stands threatened.  We should 'stand up,' to
quote the resignation letter."  Hebert advocates opening a section 206
proceeding now, as part of the recently announced inquiry into bulk power
markets, "including the California markets."

This decision makes it clear that ISO cannot lower the caps at tomorrow's
meeting and expect that sellers will be required to sell to it at that
price.  This is an important development and very good news in our ongoing
efforts to seek economic sanity at the ISO.

Please call if you have any questions.

Dan


Here is FT-Ontario's value for Co Energy.  Storey only had basis and index
deals with them.  Please let me know if this format is not good for you.
PL


Power outages virtually assured

By Steve Geissinger
SACRAMENTO - If government was responding to blackouts like it would any
other disaster - whether firestorm, flood, or quake - it would dispatch
troops to a barren strip of the Central Valley.
There, some lawmakers and energy experts say, an outfit such as the U.S. Army
Corps of Engineers would swiftly upgrade a transmission bottleneck, called
Path 15, that virtually ensures rolling outages in the Bay Area and across
Northern California this summer.
Sure, the legislators and experts acknowledge, there are plenty of wildcards
that could make the expected blackouts worse this summer - from heat waves to
lax conservation, from generator breakdowns to plant construction delays.
But no matter how lucky California gets, it will almost certainly suffer
because of the Path 15 bottleneck that's played a central role in most of the
rotating outages so far. The bottleneck prevents authorities from shipping
power north from Southern California, which sometimes has a surplus supply of
electricity.
As things stand now, a fix, likely to cost at least $200 million and take two
years, is mired in the uncertainty of the energy crisis itself.
Few had heard of Path 15 until the energy crisis and its soaring wholesale
power prices developed this winter, financially shattering utilities,
triggering blackouts and forcing the state into the power buying business.
To spread electricity throughout the West Coast, an electron freeway of sorts
extends 1,200 miles between Washington state and Los Angeles. Three towering
high-voltage transmission lines form that freeway, except in one place.
The network, in the zone named Path 15 by engineers, narrows to two,
500,000-volt lines stretching southeast from the Los Banos area for about 90
miles to the Coalinga region. Parts of the bottleneck are visible to those
traveling Interstate 5.
In most of this year's rolling blackouts, the bottleneck has prevented the
state's transmission grid manager from being able to transfer surplus south
state power to Northern California. The California Independent System
Operator, the state's grid manager, was forced to order rotating outages in
only the northern portion of the state.
The bottleneck also contributed to outages in the Bay Area last June.
Ironically, the bottleneck could have worked in Northern California's favor
this summer, helping the region retain surplus hydroelectric power that
couldn't squeeze through the bottleneck. But dry conditions throughout the
Northwest are curtailing that.
In fact, the bottleneck will benefit power plant owners in the north because
the scarcity of power will allow them to charge higher prices. At the same
time, generators in the south may be harmed somewhat because they won't be
able to get their electricity to more lucrative markets.
To make matters worse, though new power plants to alleviate the crisis are
planned both north and south of Path 15, more are planned south of the
bottleneck.
Although there is widespread agreement on the need for quick and bold action
on the energy crisis in general and on Path 15 in particular, longtime plans
to improve the bottleneck are now mired in complex energy-crisis politics and
the myriad uncertainties of the Pacific Gas and Electric Co. bankruptcy.
"We have to pretend like we just had an earthquake," Sen. Debra Bowen,
D-Marina del Rey, said during a recent meeting of her Senate Energy Committee
on the crisis.
Sen. Jackie Speier, D-Daly City, immediately responded: "This is an
earthquake."
Assemblyman Phil Wyman, R-Tehachapi, who agrees there's a need for emergency
actions as if "we're at war," believes that perhaps the Army Corps of
Engineers would be the appropriate agency to tackle the problem with Path 15,
owned by PG&E.
He's authored a bill, thrown into limbo by PG&E's bankruptcy filing, that
would earmark $10 million to pay for initial environmental reviews of the
Path 15 upgrade.
Path 15's two lines were typical when it was built in the 1960s. But over the
years, various utilities have bolstered the rest of the transmission system.
Although PG&E has studied adding an extra line, the utility held up because
of cost and regulations that make the lines a poor investment.
Meanwhile, energy use outpaced construction of the infrastructure to supply
it.
When PG&E went broke this year buying wholesale power at soaring rates and
selling it as lower, capped retail rates, Gov. Gray Davis offered a rescue
that included state acquisition of Path 15 and the rest of the roughly 30,000
miles of high-voltage transmission lines owned by the state's investor-owned
utilities.
The Davis administration, as part of the proposal, joined PG&E in talking
about Path 15 improvements. But then the utility opted instead to enter
bankruptcy proceedings that have thrust the fate of the bottleneck into
limbo.
Utility officials said they are uncertain whether they will gain permission
from the federal bankruptcy judge to proceed with the project or whether
circumstances will allow it.
Terry Winter, president of Cal-ISO, wonders whether "the bankruptcy court
will, with its traditional focus on maximizing the value of the debtor's
estate, recognize the criticality of allowing these investments to go
forward."
The Davis administration, moving toward acquisition of SoCal Edison's lines,
is uncertain whether it will still have the opportunity to purchase the PG&E
grid that includes Path 15.
At the same time, a group of north-state municipal utilities has volunteered
to finance the transmission-line expansion if the state promises
reimbursement. But that's something the state isn't willing to do in light of
the bankruptcy that leaves the project in PG&E hands.
The Transmission Agency of Northern California said it could have completed
the work in just a couple years.
Even if the way is cleared for the upgrades, more 150-foot-tall steel towers
spaced at quarter-mile intervals don't make popular neighbors. Although the
area is largely rural, citizen protests could delay or stall the work on the
lines, which some link to radiation-related health hazards.
The project would cost between $200 million and $300 million and take years
to complete, but it is but one of several necessary grid upgrades, although
most of them are lesser in scope.


I don't think we are interested in Hockey but Texans may be of interest.  Send an E-mail to Redmond for us to discuss.  Maybe we can share with another desk.

Tom

 -----Original Message-----
From: 	Vuittonet, Laura
Sent:	Friday, September 28, 2001 3:46 PM
To:	Martin, Thomas A.
Subject:	FW: Houston Aeros Tickets

Tom, read below and let me know what you think!

Also, would you like for me to look into getting season tickets for the Houston Texans?  I know that Jessica, Barry Tycholiz's assistant, purchased some earlier this year.

Laura

 -----Original Message-----
From: 	Daw, Nicki
Sent:	Friday, September 28, 2001 3:28 PM
To:	Schoppe, Tammie; Brooks, Loretta; Hillis, Kimberly; Phillips, Cathy; Burns, Jennifer; Ford, Sue; Schiller, Marsha; Blackwood, Connie; Burns, Jennifer; Chapman, Kay; Dauterive, Inez; Daw, Nicki; Elbertson, Janette; Ferrari, Kerry; Fleming, Rosalee; Ford, Sue; Harris, Stephanie J; Heathman, Karen K.; Maronge, Bridget; Marshall, Lucy; McVicker, Maureen; Phillips, Cathy; Rapacioli, Marisa; Schiller, Marsha; Stark, Cindy; Taylor, Liz M.; Valencia, Laura; Westbrook, Sharron; Vuittonet, Laura; Zoch, Judy; Venable, Rachael; Harvey, Claudette; Armstrong, Julie; Tijerina, Shirley; Fallon, Susan; Rode, Tina; Clyatt, Julie; Angelos, Megan; Westbrook, Cherylene R.; Black, Tamara Jae; Elbertson, Janette; Watson, Denys; Rangel, Ina; Palmer, Rhonna
Cc:	Taylor, Liz M.; Tagliarino, David; Williamson, Joannie; Grissom, Greg
Subject:	Houston Aeros Tickets

Mark Frevert has purchased 4 tickets for the Houston Aeros 2001-02 season, for use by all business units, the same way as the Astros tickets.  This is the Aeros first year in the American Hockey League.  Their first game is on October 12th, go to http://www.aeros.com/schedule/ to see the full schedule.

Our seats are located in Section 108, Row R, Seats 1-4.

If your group in interested in using these tickets, please give me a call (x33497).

In addition, I have 3 invitations (each admit 2 people) to the "Meet the Team Party" on Tuesday, 2nd October.  If you would like to attend, please let me know.  The party will be held at the Compaq Center from 6pm to 8pm.

Regards,

Nicki

Nicki Daw
Enron Corp
Tel: 713 853 3497
Fax: 713 646 3330


Thank You - Eric

-----Original Message-----
From: Shapiro, Richard
Sent: Sunday, November 25, 2001 1:32 PM
To: Benson, Eric
Subject: RE:

No problem...I'd be pleased to be a reference.

-----Original Message-----
From: Benson, Eric
Sent: Sun 11/25/2001 12:42 PM
To: Shapiro, Richard
Cc:
Subject:

Rick - hope all is well and you had a nice Thanksgiving; I'm in the process of updating my resume and would like to add you as a reference if that's ok; thanks for the consideration - Eric


Since the market affiliate rule looks at business units rather than the
function within the business unit (or any firewalls that are set up), since
he works for ECT I have to say I would be uncomfortable putting him on the
distribution list.  I know that he has access to the same info, but to give
him access to our work product is probably a violation of the rule.

I am out of town, but if you have any questions please e-mail or leave me a
voice mail, and I will reply after my hearing today.

	From:  Dan Fancler                           05/31/2000 06:46 AM

To: Debbie Moseley/ET&S/Enron@Enron
cc: Bob Chandler/ET&S/Enron@Enron, Susan Scott/ET&S/Enron@Enron

Subject: Re: Distribution of Hedge Book

Since he works for the same group that does our VAR calculation he should
already have our positions, go ahead and send him the book, unless Susan
Scott has a problem.  Susan, let us know if you have a problem.

Dan

Debbie Moseley
05/30/2000 04:32 PM
To: Dan Fancler/ET&S/Enron
cc:

Subject: Re: Distribution of Hedge Book

Dan,

Jan has suggested that Eugenio Perez is setup on distribution for the book.
I'm not sure about putting him on the distribution since is a ECTN employee.
However, according to Jan he works in the group that provides ET&S with the
VAR calculation.  What do you think or should Susan Scot have final say.

Let me know.

Debbie
---------------------- Forwarded by Debbie Moseley/ET&S/Enron on 05/30/2000
04:24 PM ---------------------------

Jan Johnson
05/17/2000 04:15 PM
To: Debbie Moseley/ET&S/Enron@ENRON
cc:

Subject: Re: Distribuion of Hedge Book

He works for Sally Beck.  Her group does VAR for all of Enron, so in that
function he is Global.  He doesn't share any of the information he collects
on the business units with any of the trading or commercial people, to ensure
we have no market affiliate problems.  Is that enough protection or will we
need to do more to separate him?

Jan

Debbie Moseley
05/17/2000 04:08 PM
To: Jan Johnson/GPGFIN/ENRON
cc:

Subject: Distribuion of Hedge Book

Jan, who does Eugenio Perez work for?  When I typed in his name, it indicated
he was with ECT.

Thanks, Debbie


Are you alive? How is your health? Is stress a big part of your life?

Hope all is well. You are doing a great job there for us but if it gets to be
too much we'll try to help. I noticed that west power has already made a
fortune this year so it must be crazy.

Rick


Sorry.  Pls let me know the outcome.

Jim


saturday is definately on.  fri i am up for whatever.  maybe happy hour and turn in before 2am for once.


We have 3 rides this weekend, all on Saturday - two of which you've already
received, and one official MS150 training ride.

Saturday - March 25   (Ride Coordinator - Stephanie Strong - 713-853-1653)

Come one, come all to conquer the treacherous hills at Bastrop State Park on
Saturday, March 25.  Bastrop IS the toughest part of the MS150.  We will be
meeting at the large parking area which is located at the entrance of the
park where you pay $3 entry fee.  Look for my green Toyota pickup truck with
the camper top.  Meeting time is 10:00 a.m.  It takes approximately 2 1/2
hours to drive to Bastrop from Houston.  I will bring water and gatorade.
You're on your own for food.  The route is about 12 miles through the park,
but it's a very important 12 miles because the hills are such a challenge.

Please RSVP to me so I'll have enough water and gatorade for everyone.

Things to bring:
Stuff to change a flat tire
Water bottle (filled with your favorite beverage)
Food (fruit, power bars, whatever else)
Helmet
Bike
Yourself

Here's a map of the park.  Let me know if you have any questions.

Directions:
Take I-10 West to 71 West towards Lagrange/Austin
Travel down 71W about 50 miles.
Turn right onto Loop 150
Travel .7 miles
Turn right onto TXP1 (Park Road 1A)
You'll be at the entrance to the park.

Saturday - March 25

Dan Lyons' training ride series leading up to the MS150 continues this
Saturday, March 25, as described below. The terrain will range from what Dan
considers to be light hills, through moderately hilly to hilly, and the
traffic on each ride will be light to moderate.  The rides will not be sagged
(although each of the rides will have stores at various distances) and riders
should come prepared with water, food and the equipment necessary to repair
flat tires.  The goal will be to ride these rides at a pace between 14-16MPH
and to get in a little hill work before the MS150.  Although prior commitment
is not a requirement, Dan would appreciate some kind of a head count, so if
you plan on doing one or more of these rides, please email him at
dan.lyons@enron.com or leave him a voice mail at (713) 853-1648.  All rides
will leave promptly at 8:00 a.m. so be sure to arrive in time to be ready for
a wheels up departure at 8:00 a.m..  Look for Dan in his electric blue
Explorer of ancient vintage.

This ride will start from Royal Jr. High School in Pattison about three miles
north of Brookshire off of either FM 359 or FM 362.  This is a moderately
hilly ride that goes up through Burleigh and Racoon Bend to Belville and back
by way of FM 529 and FM 359.  Mileage; low 60's.

Saturday- March 25
MS150 Official Training Ride sponsored by Bay Area Schwinn Clear Lake - 50
miles
Call 281-332-6433 for information.


Attached is a revised Credit Watch listing for the week of 3/12/01.
If there are any personnel in your group that were not included in this
distribution, please insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at x5-7095, or Brant Reves at x3-9897.


> A man walks into a bar with an ostrich behind him.  The bartender asks
> for his order, and the man says, "I'll have a beer," and turns to the
> ostrich. "What's yours?"
>
> "I'll have a beer, too," says the ostrich.
>
> The bartender pours the beer and says, "That will be $3.40 please," and
> the man reaches into his pocket and pulls out exact change for payment.
>
> The next day, the man and the ostrich come again, and both order a beer.
> Once again, the man reaches into his pocket and pays with exact
> change.  This becomes a   routine until, late one evening, the two enter
> again and the bartender asks, "The usual?"
>
> "Well, it's close to last call, so I'll have a large scotch," says the
> man.
>
> "Same for me," says the ostrich.
>
> "That will be $7.20," says the bartender. Once again, the man pulls exact
> change out of his pocket and places it on the bar.  The bartender can't
> hold back his curiosity any longer. "Excuse me, sir. How do you
> manage to come up with the exact change out of your pocket every time?"
>
> Well," says the man, "several years ago I was cleaning the attic, and I
> found an old lamp.  When I rubbed it, a genie appeared and offered me
> two wishes.  My first wish was that if I ever had to pay for anything, I
> just put my hand in my pocket, and the right amount of money will
> always be there."
>
> "That's brilliant!" says the bartender.  "Most people would wish for a
> million dollars or something, but you'll always be as rich as you want
> for as long as you live!
>
> "That's right!  Whether it's a gallon of milk or a Rolls Royce, the
> exact money is always there," says the man.
>
> The bartender asks, "One other thing, sir; what's with the ostrich?"
>
> The man replies, "My second wish was for a chick with long legs."


I'm out of here at 4.  Good luck with the new hair--i'll talk to you later....

Alexandra Saler@EES
12/14/2000 02:57 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

we would have so much fun we wouldn't have to leave early!!!

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

I'll have Jennifer put in the move order to get your desk into my office.

Alexandra Saler@EES
12/14/2000 02:26 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

you are as much of a slacker as me!!! want me to come entertain you for a
while?

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

I've got a meeting at 3:30 (for an hour at most) then I'm leaving for the
day!  tomorrow, in about 10, out at noon.  I can't wait.

Alexandra Saler@EES
12/14/2000 01:49 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

I am in vacation mode.  I don't want to do anything.  what are you doing?

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

What's up?

Alexandra Saler@EES
12/14/2000 08:18 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

what??????????

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

oh.................my...............god..............


Here is the agreement for Lutz.  Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 10/25/2000 11:17
AM ---------------------------
From: Anne C Koehler on 10/25/2000 11:14 AM
To: Michelle Cash/HOU/ECT@ECT
cc:
Subject: Re: Triple Lutz Bidder A PSA redlined

Please see attached.

Anne C. Koehler
Sr. Counsel, ENA
EB 3832
713-853-3448


Big hole in the doc without the profit stuff.  Any ideas?


Winston Chang's model.
---------------------- Forwarded by Mike J Miller/HOU/ECT on 04/07/2000 09:12
AM ---------------------------
From: Eric LeDain on 04/06/2000 11:44 AM MDT
To: Mike J Miller/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT
cc:
Subject: Models

Mike, Ben,
I had sent both models but just noticed that they didn't go through as they
were too large.  So you'll get this in two parts.
Here is Winston Cheng's model.  In Kate's view it would be better to use
Winston's model as it incorporates the intrinsic and extrinsic valuation
elements and the curves, but also covers the US tax situation (plus she says
it is MORE SOPHISTICATED...!).

Our model will follow by another note.


This has been revised...please see below.

 -----Original Message-----
From: 	Black, Tamara Jae
Sent:	Wednesday, November 14, 2001 2:52 PM
To:	/o=ENRON/ou=NA/cn=Recipients/cn=notesaddr/cn=a478079f-55e1f3b0-862566fa-612229; Abler, William; Aggarwal, Anubhav; Allen, Diana; Arora, Harry; Bailey, Debra; Ballato, Russell; Ballinger, Ted; Baughman Jr., Don; Baughman, Edward D.; Benchluch, Moises; Benjelloun, Hicham; Benson, Robert; Bentley, Corry; Black, Tamara Jae; Blaine, Jay; Bolt, Laurel; Broderick, Paul J.; Broussard, Richard; Burnett, Lisa; Campbell, Larry F.; Capasso, Joe; Carson, Mike; Chen, Alan; Chen, Hai; Choate, Jason; Cline, Kevin; Clynes, Terri; Collins, Dustin; Comeaux, Keith; Coulter, Kayne; Davis, Mark Dana; Day, Smith L.; Dean, Clint; Decook, Todd; Emesih, Gerald; Errigo, Joe; Forney, John M.; Freije, William; Garcia, Miguel L.; Gilbert, Gerald; Gilbert-smith, Doug; Giron, Gustavo; Greer, Andrew; Gualy, Jaime; Guerra, Claudia; Gulmeden, Utku; Gupta, Gautam; Ha, Amie; Hanse, Patrick; Imai, Rika; Ingram, David; Jenkins IV, Daniel; Kaniss, Jason; Kelly, Mike E.; King, Jeff; Kinser, John; Larkworthy, Carrie; Laurent, Dean; Laverell, Justin; Lenartowicz, Chris; Lorenz, Matt; Lotz, Gretchen; Lowell, Thomas; Mack, Iris; Mahajan, Ashish; Makkai, Peter; Marquez, Mauricio; Maskell, David; May, Tom; McElreath, Alexander; Miller, Jeffrey; Oh, Seung-Taek; Olinde Jr., Steve; Pace, Andy; Padron, Juan; Pan, Steve; Philip, Willis; Podurgiel, Laura; Poppa, John D.; Presto, Kevin M.; Rawal, Punit; Rodriquez, Andy; Rogers, Benjamin; Rust, Bill; Ryan, David; Saibi, Eric; Schiavone, Paul; Schneider, Bryce; Seely, Michael; Serio, Erik; Shoemake, Lisa; Stalford, Robert; Stepenovitch, Joe; Sturm, Fletcher J.; Suarez, John; Symms, Mark; Tamma, Ramanarao; Thomas, Paul D.; Trejo, Reese; Valdes, Maria; Vernon, Clayton; Wang, Steve; Williams, Ryan; Willis, Cory; Zipperer, Mike; Carroll, Lex; Dalton III, Oscar; Forster, David; Ratliff, Beau; Valderrama, Larry
Subject:	FW: Presentation

The presentation will be on Tuesday, November 20th from 3:30 - 5:30 pm on the  "Congestion in  the   transmission system for the Eastern
Interconnect"

The conference room will be determined on Monday the 19th.

Thanks

 -----Original Message-----
From: 	Benchluch, Moises
Sent:	Wednesday, November 14, 2001 2:51 PM
To:	Black, Tamara Jae
Subject:	Presentation

TJ:

Can you pls invite all traders, mid-market and originators.

There will be a presentation on Tuesday, November  21st from 3:30-5:30 pm on the  "Congestion in the transmission system for the Eastern Interconnect"

The conference room will be determined on Monday.

Thanks,

Stephen


Matthew:  We have had some internal discussions regarding the appropriate
Enron party to this master and have concluded that Enron Corp. (the parent of
Enron North America Corp.) should be your counterparty.  Does this change
warrent any changes with respect to your comments?  Sara


California Dimming
The Times of India, 01/26/2001

Investors Decide to Stick with Safer Bets on Wall Street Yesterday While...
Pittsburgh Post - Gazette, 01/26/2001

I'll BE SEEING YOU IN 4 MONTHS,
The Boston Globe, 01/26/2001

The President's First Message
Buainess Standard, 01/26/2001

Your Friday Night
Lamorinda Dems Share Laughs, Rally Troops After Loss
The San Francisco Chronicle, 01/26/2001

As Demands for Energy Multiply, Farms Stage a Comeback--- Phalanxes of
Whirring Turbines could be a Partial Antidote for Blackouts in California
the Wall Street Journal, 01/26/2001

International
World Watch
The Wall Street Journal, 01/26/2001

Houston Chronicle Working Column
01/26/2001

California Dimming

01/26/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

Those of us who couldn't conceal their glee at the world's most advanced and
powerful democracy taking weeks to count a few thousand ballots and not
getting it right, now have something more to gloat over. California,
America's largest state and "that advance post of our civilisation" as J B
Priestley called it, is in the grip of an acute power crisis. The two
companies which distribute power over most of the state are on the verge of
bankruptcy and the state government has had to come to their rescue and
disburse funds for payment to wholesale power suppliers - shades of our own
Maharashtra State Electricity Board and Enron. A state of emergency has been
declared and millions of homes and businesses are being subjected to "rolling
blackouts", or staggered power cuts. The authorities are not putting out a
loadshedding schedule for fear that it might encourage looters and arsonists
who would know that burglar alarms would be off. The clockwork-like economy
has been seriously disrupted as traffic lights, ATMs, petrol pumps and
electronic checkout counters go on the blink and Californians stock up on
flashlights, candles, generators, wood-burning stoves and firewood. At the
Folsom headquarters of Intel, the company whose chips are powering most of
the world's computers, people are carrying on gamely with their work under
dim lights.
As the saying goes, "What California is today, we shall all be tomorrow" -
hence it is instructive to understand how the state got into this mess. The
deregulation law of 1996 attempted to create a market for wholesale power by
"unbundling" the generation, transmission and distribution functions -
something that is on the anvil in India too. However, the market was
hamstrung from the beginning by various flawed policies, including a "cap"
placed on the retail power tariff and a decision by the authorities to
disallow power companies the freedom to enter into long-term contracts for
power purchase. Also, the tough environmental regulations in the state and
the attitude of many local communities ("Not in my backyard") meant that old
power plants shut down, no new ones came up, and the generation within the
state actually went down over the last ten years. As the demand increased
steadily, particularly in the Silicon Valley with its power-guzzling "data
hotels" and "server farms", the state became ever more dependent on external
sources particularly from the Pacific Northwest. Rapid economic growth in the
northern states, and low water levels this season in the hydro-power dams,
meant less surplus to California, leading to a sharp increase in wholesale
power rates. The lessons are clear - for California, and for us in India.
First, you can't legislate away economic laws - supply and demand have a way
of catching up with you. Second, as power is a capital-intensive,
long-gestation industry, the policy framework has to provide for adequate
capacity to come up over the long-term. Third, regulation can and should
smooth out price volatility, but tariff caps will only distort the market and
pave the way for systemic crises. And lastly, power is a key infrastructure
for a modern economy and there is really no alternative to a smooth
changeover to deregulated markets - the UK and many other states in the US
have successfully accomplished this.
BUSINESS
[ Investors decided to stick with safer bets on Wall Street yesterday while
... ]
HED: DOW RISES, NASDAQ FALLS,INVESTORS EYE EARNINGS, FEDBY AMY BALDWIN, THE
ASSOCIATED PRESS

01/26/2001
Pittsburgh Post-Gazette
REGION
B-15
(Copyright 2001)

Investors decided to stick with safer bets on Wall Street yesterday while
they contemplated the future of earnings and the economy. The market bid blue
chips higher, but cashed in recent gains in the battered tech sector.
Although big-name companies reported fourth-quarter results largely in line
with expectations, analysts said investors kept their focus on forecasts for
2001.
"Fourth-quarter earnings have really left the radar screen for most
investors," said Richard E. Cripps, chief market strategist for Legg Mason of
Baltimore.
The Dow Jones industrial made a solid advance, closing up 82.55 at 10,729.52.
Broader market indexes declined. The Nasdaq composite index fell 104.87 to
2,754.28, and the broader Standard & Poor's 500 index slipped 6.79 to
1,357.51.
The market is so focused on corporate performance during the first half of
this year that even Federal Reserve Chairman Alan Greenspan failed to move
stock prices. Greenspan testified before Congress, speaking mostly about
longer-term tax cuts but also signaling that interest rates are likely to
drop further.
While investors are cautious, the mood on Wall Street is slightly more upbeat
than in recent months, analysts said. The market is hopeful that earnings and
the economy will soon improve, particularly as interest rates decline.
The Fed is expected to cut rates for the second time this month when it meets
next week. That expectation factored into some of yesterday's tech sector
selling, said Cripps of Legg Mason.
"There's some gamesmanship going on in advance of the Fed meeting," Cripps
said, noting that investors who have been buying on expectations of a rate
cut are likely to sell if and when the Fed takes that action.
Dell, which earlier in the week rebounded from a poor first- quarter earnings
outlook, lost 69 cents to close at $26.44. Computer equipment maker EMC fell
$2.94 to $76.50 after rising earlier in the week on earnings that were 2
cents a share higher than expectations.
While past earnings are important, the market typically is most concerned
about companies' future profitability. That was evident yesterday in a sharp
decline among companies that make fiber optic and other networking equipment.
Corning skidded nearly 20 percent, finishing down $13.88 at $56.25. The maker
of fiber optic cables warned late Wednesday that its customers had cut back
their orders through the first half of the year.
"People are spooked by the guidance given by Corning" said Charles White,
portfolio manager for Avatar Associates.
JDS Uniphase, which tumbled $7.88 to $55.19, recouped 74 cents in
extended-hours trading. The fiber optic maker announced after the market
closed that it beat second-quarter predictions by 2 cents a share. The
company also said it expected third-quarter sales to rise as much as 10
percent.
Meanwhile, blue chips got a lift from so-called defensive issues such as drug
and energy stocks that tend to do better in bearish markets. Eli Lilly, which
met expectations and said the first half of the year should be strong, gained
31 cents at $83.06.
Investors rewarded Enron for saying 2001 profits likely will surpass
analysts' predictions. The energy company rose $2.25 to $82.
Op-Ed
I'LL BE SEEING YOU IN 4 MONTHS
DAVID NYHAN, GLOBE STAFF

01/26/2001
The Boston Globe
THIRD
A15
(Copyright 2001)

THE GOING RATE FOR A RUN-OF-THE-MILL CAMEL IN THE GOBI DESERT IN 1996 WAS
$250, FOR A WEARY ANIMAL WITH THE MONGOLIAN CAMEL-DRIVER'S EQUIVALENT OF A
DENTED FENDER, AND IT MIGHT GET A LITTLE WHEEZY BETWEEN WATER HOLES. BUT IF
YOU WANTED A GOOD ONE, WITH LOW MILEAGE, SOUND OF HOOF AND LUNG, IT WOULD
COST YOU $500. WHO TOLD ME THAT? MY FRIEND AMAR, A FELLOW NEWSPAPERMAN FROM
ULAN BATOR, THE METROPOLIS OF MONGOLIA. AND HOW DID HE COME TO BE MY FRIEND?
BECAUSE WE WERE BOTH ESCAPED NEWSPAPERMEN, COOLING OUR JETS AND RECHARGING
THE OLD BRAIN PAN AS FELLOWS AT OXFORD'S REUTERS FOUNDATION. WHY DO I BRING
THAT UP? Because as of Monday I take up another fellowship, at Harvard's
Kennedy School of Government, at the Joan Shorenstein Center on Press,
Politics and Public Policy, where I expect to learn some equally interesting
things. Like Oxford, it's another crossroads of the planet. So for the spring
semester I'll be sequestered. No columns from yours truly for four months.
Since I last sojourned in Cambridge as a skinny undergraduate, I've added
several notches on the beltline, a few zeros in the bank book, and many miles
on the odometer. I stood with the mob in front of Dillon Field House the day
McGeorge Bundy introduced Fidel as "Dr. Castro," and the doctor is still
running Cuba, but just about everything else has changed.
As a 17-year-old I sat in the Harvard Club's baronial banquet hall when a
bronzed Senator Jack Kennedy dashed off a witty speech to the Crimson
football banquet. He got elected president when I was a sophomore. Now I'll
have an office, a phone, and something Kennedy never dreamed of - a computer
wired to something called the Internet - at a school named after him.
Speaking of the Internet, I apologize in advance for my absence to you folks
in wired-land. It is not an unmixed blessing to receive as many as 1,000
e-mails a week urging this or that, praising this or that, damning this or
that. Through change of season, fashion or administration, I understand that
you are not unanimous by any stretch, but you are passionate, sometimes
beyond belief (or reason, in a few cases).
But I know some of you - the lady married to the diplomat in Islamabad, the
hardy souls bucking the Sun Belt mentality in the great South and West, the
Meridian, Miss., correspondent who urged me to "reload and charge on with our
support," the gal from Black Mountain, N.C., the keep-your-outrage-going man
from New York, ditto for the Madison, Ala., fellow - some of you will miss
your Dave. "It is now 26 years since I left Boston and you remind me how I
miss those terse tart tongues," says Susan of "So much for civility."
From Royal Oak, Mich., Maia says "please keep calling 'em as so many of us
see 'em." Demurs "a lady in Washington state": "My goodness, you are either a
very angry individual or a poor loser . . . why don't you write about
something uplifting and heartwarming?" Good point. I'll mull that over for
the next four months. By that time, our new president will have had his 100
days, and he'll have had time to "restore honor and integrity to the White
House." And, "sit back, have a tax cut on us, and enjoy the ride," says one
happy Bob from Nashville. Go for it, Roberto.
"You should be ashamed to author such divisive . . . ," scolds J.G. from
British Columbia. A Filipino woman living here worries that tolerance may be
in jeopardy. A daughter of German refugees writes from Florida that "big
corporations are now controlling the government."
Jason, a shrewd observer of the oil patch, details exploding oil company
profits, urging a column on big oil's influence with the new gang in charge.
Sorry, Jason; if I wasn't out of here today, I'd be banging away at Enron
Corp., the Houston outfit that wholesales more electricity and owns more gas
pipelines than anyone. Enron scores monstrous profits off California's energy
shortfall, and Enron executives comprise the biggest bundled contributor to
President Bush's political campaigns, reports the watchdog Center for Public
Integrity, including $550,000 for last week's inaugural bash.
But the Bush-watch will proceed without me for the next four months. I am
outta here! I go back to brick halls where I sat, totally consumed by David
Riesman's dissection of "The Lonely Crowd," Walter Jackson Bate's unfurling
of English literature, Erik Erikson ushering in a redoubtable woman wearing a
cape and leaning on a hefty walking staff: Margaret Mead.
I'll be checking in on Ken and Kitty Galbraith, and some Sundays I'll be in
the back pews listening as the Rev. Peter Gomes uncorks some of the best
sermonizing you find on any Sunday anywhere. Nights might find me at the
American Repertory Theater, waiting for one of Jeremy Geidt's comic turns.
There's lots to see and do; they have everything but camels.
With my new fellow fellows, I'll soak up every scrap and come back with a
better attitude and more humility, a course of action urged upon me by many
of my conservative friends. Good luck; see you on D- Day.
David Nyhan's e-mail address is nyhan@globe.com.
The President's first message
Our Editorial

01/26/2001
Business Standard
9
Copyright (c) Business Standard

The government of George W Bush, America's new President, has sent a message.
It was for the Prime Minister, whose name Mr Bush once could not remember
when asked in an interview. But Enron must have forcefully brought to his
attention the name of Vilasrao Deshmukh, the chief minister of Maharashtra.
After watching the chief minister's gyrations for months, Richard Celeste,
the US ambassador, called on him on Tuesday, and offered to mediate between
him and Enron.
If Mr Deshmukh in his innocence thinks that this was a samaritan's offer of
good offices, he is sadly mistaken. For Mr Celeste represents and speaks for
the US government even when he offers to mediate. What he conveyed was the
interest of the US government in an amicable solution and its potential
displeasure if, as Mr Deshmukh is tempted to do, his government reneges on
its contractual obligations to Enron. For Mr Deshmukh has stressed in recent
weeks that the Maharashtra government cannot honour the contract. Now he
should be under no doubt that if he proves as good as his word, he will
involve his country in a major contretemps with the US government for which
he will earn no thanks from Delhi.
Mr Deshmukh is reported to have told Mr Celeste that he proposed to set up a
high-powered committee, and that it was delayed because there were too many
candidates. He was not telling the entire truth _ which is that this
committee will carry no credibility since it will be appointed by the party
that wants to break the contract. To get around this, Mr Deshmukh has been
putting enormous pressure on Mumbai's most respected banker to accept the
chairmanship; but public-spirited as he is, the banker is obviously reluctant
to step into Mr Deshmukh's parlour.
For the chairman will only be a name; the hatchet job will be done by the
other members of Mr Deshmukh's choice. And their job will be to invent
reasons why the Maharashtra government should breach the agreement. Nor will
they have to go far to invent the reasons, for Mr Deshmukh gave Mr Celeste
his own - which is that because power users in Maharashtra are used to paying
low tariffs, they cannot really be expected to pay enough to compensate Enron
. In other words, he does not want to let MSEB raise tariffs, for that would
land him in political hot water.
The irony is that the first contract with Enron was signed by the Congress
government of Sharad Pawar; although the two parted ways, both are supporting
Mr Deshmukh's government. So the latter is, in a sense, the former
government's political and legal successor, and has absolutely no grounds for
raising doubts on the contract. Its problem arises because the intervening
BJP-Shiv Sena government gave power tariff concessions to farmers which made
MSEB bankrupt, and raising them would make Mr Deshmukh unpopular. But
governments are not simply instruments politicians can use to buy popularity;
they are institutions to take decisions in a country's or state's interests
on issues that divide the people. Mr Deshmukh should for once consider
putting the interests of Maharashtra over those of his party, bite the bullet
and allow MSEB to charge the tariffs as determined by the State Electricity
Regulatory Commission from time to time.
CONTRA COSTA FRIDAY
Your Friday Night
Lamorinda Dems Share Laughs, Rally Troops After Loss
Sam McManis

01/26/2001
The San Francisco Chronicle
EDITION: ZONE =
2
(Copyright 2001)

Inauguration eve for the man whom liberals call the "President Select"
coincided with the monthly meeting of the Lamorinda Democratic Club last
Friday night, so visitors expected either a wake or a festival of whining and
teeth gnashing.
What wasn't expected was . . . laughter?
Hearty, infectious belly laughs spilled out of the meeting room and out into
the hallway of the Orinda Community Church. Deep concern and calls to action
would come later, of course, but during the potluck and gab session before
the meeting, a gallows humor reigned.
"You heard this one?" asks 84-year-old Lafayette resident Jop Van Overveen.
"Einstein, Picasso and George W. die in a plane crash and go to the Pearly
Gates. St. Peter says you got to prove who you are to get in. Einstein says,
'Give me a chalkboard.' And he does mathematical calculations. Peter says,
'OK, you're Einstein. Go in.' Picasso's next. He says, 'Give me an easel and
paint.' And he paints a masterpiece. Peter says, 'OK, you're Picasso.'
"Then, George W. steps up. Peter explains that he has to prove his identity,
just like Einstein and Picasso. And W. says, 'Einstein and Picasso? Who are
they?' Peter says, 'Yup, you're Bush. Go on in.' "
A gaggle of Contra Costa Democrats twirling pasta at the table erupted in
guffaws. Sure, they've heard that one before. In fact, they may have used the
same joke years ago when President Bush's father was in power. But, to them,
it was better than crying in their casserole over the acrimonious,
ballot-bickering election.
"After tomorrow night, I guess we'll be saying 'Hail to the Thief,' " says
Betty Lou Kasnoff, president of 20-year-old this partisan group which has
close to 100 members.
"Yeah, that's why I'm dressed all in black," says Richard Johnson, who also
is sporting a "Clinton '92" button smack dab in the middle of chest.
Here comes another member passing out freshly minted bumper stickers reading,
"Don't Blame Me . . . I Didn't Vote For Jeb." Valerie Sloven has picked up a
few and is telling anyone who will listen that she's protesting the
inauguration by staging a voter- registration campaign at the SunValley Mall.
"You know," boasts Barbara Boyle, "except for (Assemblywoman Lynne) Leach,
we've almost gotten rid of all the Republicans."
Louise's husband, John Clark, is thumbing through the club's January
newsletter. In it is an anonymous poem, titled "Bipartisan Cooperation." The
last stanza reads:
Humor, apparently, proved therapeutic for the group of about 50, because the
mood is anything but downcast. Perhaps "festively sarcastic" better describes
it.
"I was depressed, really depressed after the election," says Sloven of
Orinda. "But, after a while, you pick yourself up and fight back."
Boyle certainly seems ready to do battle. She had brought a back- issue of
Mother Jones magazine, which included an article about then- Texas Gov.
Bush's interests in Enron's controversial deal to put a pipeline in
Argentina. She reads aloud two paragraphs, then condemns what she calls a
"blatant conflict of interest."
Social hour over, Kasnoff brings the meeting to order. The guest speaker is
Severin Borenstein, director of the University of California Energy
Institute. Before Borenstein talks about energy deregulation and presents his
solutions to the crisis, Kasnoff introduces two women who are lobbying for
passage of Measure B, the Acalanes High School District parcel. The women
want the club's endorsement.
Borenstein speaks for an hour, outlines how California got into its current
energy mess and how he and his colleagues at UC Berkeley propose to ease the
long-term burden. Deregulation is not a popular word among Democrats. But
Borenstein is not anti-deregulation across the board, which doesn't please
the hard-core Dems.
"The big mistake was policy by analogy," he begins, "saying, 'Well, it worked
for the airlines, so it'll work for electricity."
Borenstein proposes varying electricity prices depending on the time of day,
charging up to 50 cents per megawatt hour during peak periods and lower rates
at other times. So people who consume the most power during peak periods pay
the most.
"That makes it cost-effective to conserve energy," Borenstein says. "It has
an attractive environmental benefit, too. It would reduce the number of
view-destroying, property-value decreasing energy plants."
The crowd murmurs its assent. Borenstein knows his audience. But, during the
post-speech question-and-answer period, he did rankle a few liberal feathers
when he suggested that homes that augment energy needs with solar panels do
not save much money.
Folks pepper Borenstein with questions for nearly a half-hour, until Kasnoff
intervenes and closes the meeting. People linger for a few more minutes,
chatting up Borenstein and each other. But most make sure to grab that
anti-Bush bumper sticker on their way out.
As Demands for Energy Multiply, Windmill Farms Stage a Comeback --- Phalanxes
of Whirring Turbines Could Be a Partial Antidote For Blackouts in California
By Jim Carlton
Staff Reporter of The Wall Street Journal

01/26/2001
The Wall Street Journal
B1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

SAN FRANCISCO -- The rolling blackouts in the San Francisco Bay area are
creating new demand for a long-overlooked source of power that is cheap,
plentiful and close by -- the wind.
One of the world's largest concentrations of wind turbines, some 7,000 of
them, are situated in the Altamont Pass, which separates the bay from
California's arid Central Valley. The windmills generate electricity at less
than half the cost of natural-gas-generated power, which has been running as
high as 15 cents to 20 cents per kilowatt-hour.
Passersby have for years poked fun at the windmills, which were built in the
wake of the last energy crisis in the 1970s. Then, the state and federal
government backed the plentiful power source with tax credits and price
guarantees that proved lucrative to investors and provided the state with an
alternate source of cheap electricity. But when natural-gas prices fell in
the late 1980s, and the tax credits were pulled out, the windmill industry
collapsed from 12 turbine manufacturers to one and most power companies
turned back to cheap fossil fuels.
Now, with California utilities struggling to keep the state lit, this
alternative energy source is making a comeback as one, albeit slight,
solution to the West's energy crisis. "It's not a full answer, but it's part
of the answer," says Robert Morrison, vice president of renewable generation
for "windmill farm" developer FPL Energy LLC, a unit of big energy provider
FPL Group Inc., based in Juno Beach, Fla., which also owns Florida Power &
Light Co.
Indeed, as energy providers scramble for alternatives to fossil fuels like
natural gas, which has soared in price, windmill farms are sprouting up from
the plains of West Texas to the badlands of the Northwest's Columbia Gorge.
There are 13,000 of the windmills in all -- 1,000 of them built over the past
five years.
On the Washington-Oregon border, FPL Energy is building a 470-windmill farm
atop ridges overlooking the Columbia River. When completed by the end of this
year it will be the world's biggest wind-generation plant, though its output
of 300 megawatts of electricity will be only about half the capacity of a
comparable coal or gas plant, industry officials say. And the so-called
Stateline project is one of the first new wind farms that is expected to turn
a profit without relying on government tax credits.
By using newer technology, Stateline is likely to be far more efficient than
wind farms of the past. While the windmills are far fewer in number than at
places like Altamont Pass, where they are densely placed, they have bigger
blades and can generate significantly more electricity.
With the project coming online in the midst of the West's energy crunch,
participants say the timing couldn't have been better. "We're lucky, and
we're smart, in that we have been planning for wind energy the past five
years," says Barrett Stambler, director of renewable business development for
a unit of PacifiCorp, a Portland, Ore., company that has agreed to buy the
power in its development agreement with FPL.
Elsewhere, Enron Corp. has recently deployed about 200 windmills in Southern
California and West Texas, along with 500 more in Minnesota and Iowa. Those
come on top of the 2,000 windmills Enron has operated for several years in
the Tehachapi Mountains north of Los Angeles. Also in Texas, Enron and some
other companies are building wind farms that will generate about 700
megawatts of power when completed this year, quadrupling that state's
wind-generation capacity.
"Wind indeed is ready for prime time," says Ralph Cavanagh, energy program
director for the Natural Resources Defense Council, an environmental group
based in New York.
But wind isn't likely to displace oil and gas anytime soon. In California,
where they are most abundant, wind farms account for roughly 1.5% of the
state's electricity production, according to the American Wind Energy
Association, an industry trade group in Washington, D.C. The group is pushing
for federal legislation that could boost wind power to about 5% of the
nation's overall power generation over time, from the current three-tenths of
a percent.
The intermittent nature of wind gusts means wind farms can never be as
reliable as a traditional fuel source. But the flip side to that, say wind
proponents, is that the wind farms are so easy to build -- essentially
hoisting the towers and running cables to a substation -- that it takes only
a year from start to finish to put one in operation. Coal and gas plants, by
contrast, can take as long as five years to complete.
And of the other major renewable energy sources -- solar, hydro, biomass
(burning natural waste such as wood chips) and geothermal -- wind is seen by
both the industry and environmentalists as the cheapest and greenest
alternative. Both solar and biomass plants are costly, they say, while
hydroelectrical dams are expensive and harmful to rivers. Geothermal plants,
which pump hot water out of the ground, have drawn criticism in parts of the
West for draining thermal springs -- some revered by native tribes.
Windmills, by contrast, are praised by most environmentalists as virtually
pristine energy sources with little impact on anything other than birds
flying into the blades. The newer turbines' bigger blades turn more slowly,
giving birds a better chance, industry officials say. With such advantages,
93% of a $40 million fund allocated to alternative energy that California
officials auctioned to power companies this month went to wind-generation
projects.
Until recent years, wind was a relatively dirty word in Western power
circles. After a building boom in the 1980s, fueled by tax credits to make
the machines, thousands of the metallic-bladed windmills popped up, offering
utilities an alternative that was then only slightly more expensive than
fossil fuels. But at the same time that the credits expired in the late
1980s, prices of electricity generated by natural gas plunged to about three
cents a kilowatt-hour from as high as 10 cents; the wind farms with their
five-cents-a-kilowatt power became noncompetitive.
The industry started crawling back in the early 1990s, after Congress
reinstated tax incentives, this time tied to wind-energy production, not just
to making the turbines. With other local incentives, such as long-term price
guarantees in California, FPL, Enron and other energy producers increased
their investment in the technology.
PacifiCorp, for instance, bought a smaller 40-megawatt wind farm in Wyoming
about five years ago as a training ground for expanded wind efforts. It
learned a lesson: Don't select a site near already-jammed transmission lines
-- as turned out to be the case in Wyoming because of the state's numerous
coal and gas plants -- because it rules out growth.
In seeking a home for its Stateline wind farm, PacifiCorp settled on the
Columbia River area near Walla Walla, Wash., both because of abundant wind
and the area's proximity to a less-congested part of the West's transmission
grid. Its partner, FPL, had built a smaller, 25-megawatt wind farm there four
years ago.
Unlike in places like the Altamont Pass, where thousands of windmills created
an eyesore in the opinion of many, residents of the Walla Walla area were
mostly supportive of having fewer turbines, spaced comfortably apart. There
is enough room for landowners to continue operating their wheat farms around
the machines.
"Plus this supports our values of doing sustainable, `green' building
wherever we can," says Peter Harvey, chief financial officer of Whitman
College in Walla Walla, which is leasing out some of its wheat land for the
windmills.
The cost of wind energy from Stateline is between three cents and five cents
a kilowatt-hour -- compared with as much as 20 cents from natural gas. The
project's timing is pefect. Terry Hudgens, PacifiCorp's senior vice president
of power supply, says the company's customers are pleading for power. "They
just want the energy," he says.
International
World Watch
Compiled by David I. Oyama

01/26/2001
The Wall Street Journal
A10
(Copyright (c) 2001, Dow Jones & Company, Inc.)

ASIA/PACIFIC
Indian Utility May Miss Enron Payment
India's cash-strapped Maharashtra State Electricity Board was expected to
miss a deadline last night for paying 1.59 billion rupees ($34.3 million) to
Dabhol Power, a unit of Enron of the U.S., for electricity purchased in
December. It again raised the possibility of Enron invoking letters of credit
or guarantees provided by the state and federal governments to force payment.
The Maharashtra state government said it hadn't yet considered a request by
the electricity board for funds to pay the bill, and didn't expect to do so
until next week. Dabhol Power sells its entire output to the electricity
board.
Houston Chronicle Working Column
L.M. Sixel

01/26/2001
KRTBN Knight-Ridder Tribune Business News: Houston Chronicle - Texas
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

ENRON RATING SETUP IRKS MANY WORKERS: Tongues are wagging at Enron Corp., and
it's not because of the bonuses they're expecting next month.
Employees are irate about a new performance-review ranking system that pits
them against each other.
Under the system, nicknamed "rank and yank," employees will be put in one of
five categories: 5 percent will be identified as "superior," 30 percent will
be labeled "excellent," 30 percent will be called "strong," 20 percent will
be labeled "satisfactory" and 15 percent will be called "needs improvement"
or "issues."
An insider said "needs improvement" means "you have one leg hanging out the
window." And "issues" is Enron lingo for "you're gone."
The rankings, whose names reportedly took Enron officials hours to come up
with, are not based just on performance.
Instead, they compare employee against employee.
"It is possible, therefore, for someone to perform at the same or higher
level compared to prior periods, yet receive a lower rating for the current
period if other employees' performance raised the bar," according to a memo
from Chief of Staff Steven Kean and Executive Vice President Cindy Olson that
was distributed this month.
While employees are competing against each other for ratings, they're also
expected to be team players, according to the memo.
The problem, according to someone familiar with the new system, is the
horse-trading that goes on when the rankings are divided up.
Managers trade rankings like baseball cards, explained the insider, offering
to downgrade one employee if they can get a better rating for another
employee.
An employee's ranking is more a function of the negotiating skills of the
manager he is working for, the insider said.
Olson, who's over human resources and community relations, said no
horsetrading is going on. The rankings, due out this week, aren't set in
stone, she said. Only 9 percent of employees were rated in the bottom
category while 6 to 7 percent were labeled superior, she said.
But Olson said she can see how employees might be worried about the prospect
of bargaining.
She speculated that one reason employees might worry is because it's a new
system for about 60 percent of Enron's employees. In years past, only the
wholesale energy services group was ranked this way.
Some human resource managers expressed surprise that Enron, which is known
for hiring superstars, apparently feels that it must get rid of so many
employees -- or at least put them on notice that they're not doing well.
It doesn't say much about the confidence of your recruiting system if you're
getting rid of 10 to 15 percent of your work force each year, said a human
resource manager in Houston who asked to remain anonymous.
Some people, as smart and talented as they are, just don't fit into Enron's
culture, Olson said. It's a company that doesn't tell people what to do; you
have to know what adds value, she said. Some folks just have a hard time in
that environment.
After thinking about it for a moment, Olson added that maybe Enron's
recruiters aren't doing a good enough job weeding out the people who wouldn't
do well in an entrepreneurial environment.
Forced ranking systems were popular several years ago. But they fell out of
favor, in part because they were seen as damaging employee motivation.
Several years ago, Houston Lighting & Power put in a forced ranking system,
dividing all employees into four groups, with "1" the top group and "4" the
lowest. Employees were so angry with the system that some work crews had
T-shirts printed: "Don't ask me -- I'm a 3."
Olson said she doesn't see a problem with motivation. People like to know how
they stand and will work hard to reach the top category, she said.
But many of the employees -- at least the ones who rate above satisfactory --
won't know how they're rated. Managers don't have to reveal the ratings.
And as for figuring out what it takes to be superior? You've got to reinvent
your job, add new business lines or create something totally new.
"Employees understand that when it's explained to them," Olson said.
To voice comments, telephone 713-220-2000 and dial in code 1002. Send e-mail
to lm.sixelchron.com.


Frank,

Attached is a forwards detail of a Sithe deal from 1993.  It is an annuity
totalling $234MM.  Let me know if this is the deal you were looking for.

Thanks,

Errol, X5-8274


Mark, attached is a memo of my accomplishments for 2000.  Thanks for your
considerationn.


Glad to hear things are going so well.  No, I haven't spoken with Ted since
my return...but, I did go out a few of the nights I was in London with an
undergrad/grad school friend of his (among other people of course).
Surprise, surprise he didn't have many supportive words for Ted as dating
material either.  In summary he found Ted to lack attentiveness to his
partners and maybe even fidelity.  He said the break up of Ted's marriage
wasn't "ALL his fault", which is a decidedly different slant than the one Ted
gave me the night of our chat.  I also heard that he has worked his way
around Enron a bit.  All in all very disheartening information.  Regardless,
I'm still glad I dated him and think I learned a lot from the whole
situation.  Tell Brendan I said, "Hello" and good luck with the new role at
work.

Susan

I have a hold on travel plans to Korea right now as work may interfere.  Oh,
well.


Richard,

I spoke to Dave Gunther earlier today regarding the EES and Green Power agreements.  He directed me to you.  Can you tell us if EES has terminated the agreements with Green Power?  If so, I would like to get confirmation of the termination in writing.

Thank you for your assistance.

Kathleen
---------------------- Forwarded by Kathleen Croiset/EWC/Enron on 01/08/2002 02:22 PM ---------------------------

	  From:  Kathleen Croiset                           01/08/2002 09:53 AM

To:	Marion Horna/EWC/Enron@ENRON, Barry Riffe/EWC/Enron@ENRON, John Nemila/EWC/Enron@ENRON, John Lamb/EWC/Enron@ENRON
cc:	Tony Schoen/EWC/Enron@Enron, Dave Gunther/Enron@EnronXGate

Subject:	RE: Green Power Production

Do any of you know if EES has terminated the agreement with Green Power?  Let me know.

Thanks,
Kathleen
---------------------- Forwarded by Kathleen Croiset/EWC/Enron on 01/08/2002 09:57 AM ---------------------------
From:	Jim Reyes/ENRON@enronXgate on 01/08/2002 11:38 AM CST
To:	Kathleen Croiset/EWC/Enron@ENRON
cc:

Subject:	RE: Green Power Production

Kathleen,

Here is the meter.  It stops at 12/11.  I am wondering if Enron no longer serves as a Scheduling Coordinator for any generation.  And therefore, we no longer receive any meter data for the wind units.  That doesn't mean that they didn't produce energy.  We may simply not be capturing it after 12/11.  Let me know what you find out.  I am going to ask around here too.

Jim

 -----Original Message-----
From: 	Croiset, Kathleen
Sent:	Monday, January 07, 2002 4:19 PM
To:	Reyes, James
Subject:	RE: Green Power Production

Jim,

I confirmed with our Regional Manager, John Nemila, in Palm Springs that the Green Power project generated production for the entire month of December.  Unfortunately, the reports that I get (like the ones I sent you) are by turbine number and only give a month-to-date total.  John Nemila did not have any reports of metering problems.   If you could try to download the data again we would greatly appreciate it!  Otherwise, we will have to estimate production.

Thanks,
Kathleen

From:	Jim Reyes/ENRON@enronXgate on 01/07/2002 05:19 PM CST
To:	Kathleen Croiset/EWC/Enron@ENRON
cc:

Subject:	RE: Green Power Production

Kathleen,

I appreciate the file you sent me, but I don't see any meter after the 11th or 12th.  I'm not sure how your file compares to the meter in system.  Perhaps you could help me understand how your meter would correlate to meter in the generation report.

The other point is that we stopped generating early in the month with other generators.  I assumed that the wind were no exception.

Jim

 -----Original Message-----
From: 	Croiset, Kathleen
Sent:	Monday, January 07, 2002 2:57 PM
To:	Reyes, James
Cc:	Stidman, Marina
Subject:	Green Power Production

Jim,

Thanks for the data. I compared your data for meters 1 and 2 and the production that I show looks like an entire months production.  Could you try to download data for the 12th to the 31st?  Here are copies of the data for meters 1 and 2:

 << File: SFX160.pdf >>

(I could not retrieve the data for meter 3.)

Thanks,
Kathleen

From:	Jim Reyes/ENRON@enronXgate on 01/07/2002 03:39 PM CST
To:	Kathleen Croiset/EWC/Enron@ENRON
cc:

Subject:	RE:

 << File: Dec 2001 Wind.zip >>

I am sorry it is late.  I was out last week and my co-worker was supposed to have sent the information.  There is no more generation after 12/11.

Jim

 -----Original Message-----
From: 	Croiset, Kathleen
Sent:	Thursday, January 03, 2002 10:53 AM
To:	Reyes, James
Subject:

If possible, could you please send the December production for Green Power.  We are closing our books tomorrow.

Thank you,

Kathleen


Deal QQ9854 does not become a NX3 swap until after Dec. 21, 2001, if it
assigned.  Before then it has to be booked as a swaption expiring on Dec 21,
2001.

Thanks,

Errol

Janie Aguayo@ECT
02/09/2001 05:14 PM
To: Errol McLaughlin/Corp/Enron@ENRON
cc:

Subject: Rebook

Hi Errol,

Would you please change the index on QQ9854.1 & .2 to NX3.

Thank you - Janie


Please do what you can to find out what is going on. I know you forwarded
these to Carolyn, but I would still appreciate it if you could investigate,
or ask Carolyn to do so.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/14/2001 08:04
AM ---------------------------

"Boyd J. Springer" <bjspringer@JonesDay.com> on 01/12/2001 01:22:11 PM
To: kay.mann@enron.com
cc:

Subject: invoices

Kay: We recently received payment of our June, 2000 invoice. Previously, we
had received payment of the September, 2000 invoice. This leaves
outstanding the invoices for July, 2000 (30492348; $9,810.19); August, 2000
(30502885; $3273.75); October, 2000 (30526950; $1819.73), November, 2000
(30539817; $1510.45); and December, 2000 ($1675.29). At the request of your
assistant, I forward the information re the invoices through November to
the Enron accounts payable help desk, but I did not hear back. Anything you
can do to expedite payment of theses invoices would be appreciated.

==========
The preceding e-mail message (including any attachments) contains
information that may be confidential, be protected by the attorney-client
or other applicable privileges, or constitute non-public information.  It
is intended to be conveyed only to the designated recipient(s).  If you are
not an intended recipient of this message, please notify the sender by
replying to this message and then delete it from your system.  Use,
dissemination, distribution, or reproduction of this message by unintended
recipients is not authorized and may be unlawful.
==========


Once again we have had some vandalism in CCV.  It is a shame to put all of
your hard work into lighting up the yard and have you decorations vandalized.
 Police reports have been made and extra patrols are being added.  Please
call the police and let us know if you see or have any vandalism.  This time
Peggy Zahler has had her light wires cut twice.  It is not the time taken to
put up the lights or the money and time required to get new lights, it is the
aggravation and the simple feeling that you are being taken advantage of.  We
take pride int the fact that Clear Creek Village attracts a lot of attention
during the holidays because you all do such a wonderful job of decorating.
Please be watchful and call League City PD.
Thank you.  Mary G. Strickland


When: Wednesday, July 11, 2001 10:30 AM-12:00 PM (GMT-06:00) Central Time (US
& Canada).
Where: Houston-EB 30C1; London-NE5011

*~*~*~*~*~*~*~*~*~*

10:30-12 noon (Houston time); 4:30-6:00pm (London time)


Jeff,

FYI, I just got this from Tom.  We don't have a very big opportunity here!
Tom did tell me that his numbers were going to be difficult to get.  Not that
i don't want to put $5 trillion on our chart, but what do you think we should
put as market size?  Nat gas, power and our existing verticals only?  What do
you think?

He is the only one to give me a number yet.  I am going to discuss it at the
staff meeting.

Mike
---------------------- Forwarded by Mike McConnell/HOU/ECT on 07/13/2000
07:47 AM ---------------------------

Thomas D Gros@ENRON
07/12/2000 04:33 PM
To: Mike McConnell/HOU/ECT@ECT
cc:
Subject: CommodityLogic Big Numbers

Mike,

Please find attached my initial attempt at 100,000-foot-level numbers for
CommodityLogic.  I am happy to discuss further at your convenience.

All the best,

Tom


Tim, my understanding is that partnership fee (the $11.0M) has been amortized
for the last several years and expensed to the Industrial groups (McConville
and Ondarza).  As you are aware, I sued them for breach.  The settlement
involved the elimination of all existing transactions between Ft. James and
Enron including the Wauna and Halsey power contracts.  It is my understanding
that the benefit of the elimination of those shorts resides in the Portland
shop.   The elimination of the shorts would not have occurred without the
lawsuit on the alliance and the settlement I originated.  It seemed logical
to charge the Portland office with the remaining un-amortized fee of $1.8M as
a cost of eliminating the shorts for no cost and no future contingent
liability.

Lets discuss.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/16/2000
07:00 PM ---------------------------

	From:  Tim Belden                           06/16/2000 05:09 PM

To: Wes Colwell/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron
cc: Paula Harris/HOU/ECT@ECT
Subject: Fort James Amortization

Edith Cross and I looked at the Fort James deal in great detail in early
1999.  When the deal was closed, west power trading booked an in the money
position and an offsetting expense of about $11 million.  This money has
already liquidated from our book.  In fact, I have a copy of the 3/31/97 DPR
that reflects this liquidation.  At that time, west power trading also paid a
350k credit reserve, 247k to the finance book, and 1.3 million in
origination.

I have also heard about a "partnership" fee that Enron paid to Fort James
around the same time.  I'm not sure what this fee was and who benefitted from
it.  It had nothing to do with the west power trading book.

On John's recommendation I called Wes to see if we could figure this out.
Wes, please give me a call back to discuss.  I think that someone needs to
look at the actual journal entries from March of 1997 to see why an expense
of $11 million was deferred.

This is not my problem.  I should not receive this expense.  Until this is
resolved, I would greatly appreciate it if the writedown of the deferred
account does not hit west power trading's expenses.


What if any changes were made to the Grand Cherokee Limited for 2002?

 -----Original Message-----
From: 	"Varsity Ecommerce" <sales@varsitychrysler.com>@ENRON [mailto:IMCEANOTES-+22Varsity+20Ecommerce+22+20+3Csales+40varsitychrysler+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 30, 2001 10:37 AM
To:	Dorland, Chris
Subject:	Re: Grand Cherokee

Good morning Chris...

Actually, I was just out of the office most of yesterday and hadn't had a
chance to do your lease numbers, but I guess the lease isn't an issue
anymore...

By the way, if you are having grief selling your car, let me know - I can
post it on MegaWheels for you for free.  It's amazing how fast cars sell on
their website.

Anyway, if you need anything at all, let me know as I will be on the
computer all day today so I will be available right away.

Dwayne

----- Original Message -----
From: <Chris.Dorland@enron.com>
To: <sales@varsitychrysler.com>
Sent: Thursday, August 30, 2001 7:25 AM
Subject: RE: Grand Cherokee

> No luck getting your lease calculator to work? Actually, don't worry about
> it I have change my mind back to buying.
>
>     -----Original Message-----
>    From:   "Varsity Ecommerce" <sales@varsitychrysler.com>@ENRON
>
[mailto:IMCEANOTES-+22Varsity+20Ecommerce+22+20+3Csales+40varsitychrysler+2E
com+3E+40ENRON@ENRON.com]
>
>
>    Sent:   Tuesday, August 28, 2001 2:40 PM
>    To:     Dorland, Chris
>    Subject:  Re: Grand Cherokee
>
>    I thought you would like it...
>
>    It is the end-all be-all of Grand Cherokees.
>
>    Retail is $52,300 - your cash price is $45,488 including rebates.
>
>    As for Sept 6/7, what I will do is bring down the matching twin of the
>    Jeep
>    in the Silverstone colour for you to play with.  It is a demo and
>    identical
>    to the black one other than the exterior colour, so you will be able to
>    see
>    what you think of it.
>
>    How does that sound?
>
>
>    ----- Original Message -----
>    From: <Chris.Dorland@enron.com>
>    To: <sales@varsitychrysler.com>
>    Sent: Tuesday, August 28, 2001 5:11 AM
>    Subject: RE: Grand Cherokee
>
>
>    > Nice looking truck. Is this one the same price? About $45,000? I will
>    be
>    > working out of my Calgary office on Sept.6/7. Could you bring it
>    downtown
>    > to take me for a ride on the afternoon of the 6th?
>    >
>    > Chris
>    >
>    >     -----Original Message-----
>    >    From:   "Varsity Ecommerce" <sales@varsitychrysler.com>@ENRON
>    >    Sent:   Thursday, September 27, 2001 4:45 PM
>    >    To:     Dorland, Chris
>    >    Subject:  Re: Grand Cherokee
>    >
>    >    Try clicking on this link....
>    >
>    >    http://www.varsitychrysler.com/Chris.htm
>    >
>    >    ----- Original Message -----
>    >    From: <Chris.Dorland@enron.com>
>    >    To: <sales@varsitychrysler.com>
>    >    Sent: Monday, August 27, 2001 2:57 PM
>    >    Subject: RE: Grand Cherokee
>    >
>    >
>    >    > Picture didn't come through. Sounds nice. Is there somewhere on
>    the
>    >    web I
>    >    > can see it.
>    >    >
>    >    > Chris
>    >    >
>    >    >     -----Original Message-----
>    >    >    From:   "Varsity Ecommerce" <sales@varsitychrysler.com>@ENRON
>    >    >    Sent:   Thursday, September 27, 2001 3:48 PM
>    >    >    To:     Dorland, Chris
>    >    >    Subject:  Re: Grand Cherokee
>    >    >
>    >    >    Did the picture not come through as an attachment in my last
>    email?
>    >    >
>    >    >    I'll attach it again and hopefully you will be able to see it
>    this
>    >    time.
>    >    >
>    >    >    If not, it is the 60th Anniversary Limited - black exterior
>    with
>    >    the
>    >    >    taupe
>    >    >    and agate interior...I thought it would be a good match for
>    you
>    and
>    >    >    there
>    >    >    are only a few around and they are gorgeous.
>    >    >
>    >    >    Dwayne
>    >    >
>    >    >
>    >    >
>    >    >
>    >    >    ----- Original Message -----
>    >    >    From: <Chris.Dorland@enron.com>
>    >    >    To: <sales@varsitychrysler.com>
>    >    >    Sent: Monday, August 27, 2001 2:39 PM
>    >    >    Subject: RE: Grand Cherokee
>    >    >
>    >    >
>    >    >    > Do you have a black one in stock? If so, what color
>    interior?
>    >    >    >
>    >    >    > Chris
>    >    >    >
>    >    >    >     -----Original Message-----
>    >    >    >    From:   "Varsity Ecommerce" <sales@varsitychrysler.com>
>    @ENRON
>    >    >    >    Sent:   Thursday, September 27, 2001 3:37 PM
>    >    >    >    To:     Dorland, Chris
>    >    >    >    Subject:  Re: Grand Cherokee
>    >    >    >
>    >    >    >    Hi Chris,
>    >    >    >
>    >    >    >    So you like black?  Oddly enough that was the one I was
>    >    thinking
>    >    of
>    >    >    >    too...
>    >    >    >
>    >    >    >    Here's a picture...What do you think?
>    >    >    >
>    >    >    >    By the way, I will be here on the 6th and 7th, so I will
>    see
>    >    you
>    >    >    then.
>    >    >    >
>    >    >    >    Take care,
>    >    >    >    Dwayne
>    >    >    >    ----- Original Message -----
>    >    >    >    From: <Chris.Dorland@enron.com>
>    >    >    >    To: <sales@varsitychrysler.com>
>    >    >    >    Sent: Monday, August 27, 2001 2:18 PM
>    >    >    >    Subject: RE: Grand Cherokee
>    >    >    >
>    >    >    >
>    >    >    >    > The colors that interest me most are black, silver,
>    white,
>    >    >    burgundy
>    >    >    >    and
>    >    >    >    > champagne. I will be in Calgary on Sept. 6/7 and I
will
>    give
>    >    you
>    >    >    a
>    >    >    >    call.
>    >    >    >    > Are you going to be in the office on those days?
>    >    >    >    >
>    >    >    >    > Chris Dorland
>    >    >    >    >
>    >    >    >    >     -----Original Message-----
>    >    >    >    >    From:   "Varsity Ecommerce"
>    <sales@varsitychrysler.com>
>    >    @ENRON
>    >    >    >    >    Sent:   Friday, August 24, 2001 11:48 AM
>    >    >    >    >    To:     Dorland, Chris
>    >    >    >    >    Subject:  Re: Grand Cherokee
>    >    >    >    >
>    >    >    >    >    Hi Chris,
>    >    >    >    >
>    >    >    >    >    I don't honestly know how long they will be
>    available as
>    >    our
>    >    >    first
>    >    >    >    2002
>    >    >    >    >    arrived on Monday, so that would suggest that we
>    aren't
>    >    >    receiving
>    >    >    >    any
>    >    >    >    >    more
>    >    >    >    >    2001 models.  There are still several available,
but
>    if
>    >    we
>    >    >    didn't
>    >    >    >    have
>    >    >    >    >    your
>    >    >    >    >    2001 in stock, I would locate it at another dealer
>    and
>    >    bring
>    >    >    it in
>    >    >    >    for
>    >    >    >    >    the
>    >    >    >    >    same price.
>    >    >    >    >
>    >    >    >    >    The next step might also be to give me your top
>    choices
>    >    for
>    >    >    colours
>    >    >    >    so
>    >    >    >    I
>    >    >    >    >    can
>    >    >    >    >    keep an eye out for you.
>    >    >    >    >
>    >    >    >    >    By the way, my work number is 730-4000, or
toll-free
>    >    >    >    1-866-881-1888.
>    >    >    >    >
>    >    >    >    >    Take care,
>    >    >    >    >    Dwayne
>    >    >    >    >
>    >    >    >    >
>    >    >    >    >
>    >    >    >    >
>    >    >    >    >    ----- Original Message -----
>    >    >    >    >    From: <Chris.Dorland@enron.com>
>    >    >    >    >    To: <sales@varsitychrysler.com>
>    >    >    >    >    Sent: Friday, August 24, 2001 10:41 AM
>    >    >    >    >    Subject: RE: Grand Cherokee
>    >    >    >    >
>    >    >    >    >
>    >    >    >    >    > Thank you very much. How long would it take to
get
>    >    something
>    >    >    like
>    >    >    >    this
>    >    >    >    >    in?
>    >    >    >    >    > I will be in Calgary on Sept. 6/7 and will come
by
>    and
>    >    see
>    >    >    you.
>    >    >    >    Could
>    >    >    >    >    you
>    >    >    >    >    > e-mail me your work phone number.
>    >    >    >    >    >
>    >    >    >    >    > Thanx
>    >    >    >    >    >
>    >    >    >    >    > Chris Dorland
>    >    >    >    >    >
>    >    >    >    >    >     -----Original Message-----
>    >    >    >    >    >    From:   "Varsity Ecommerce"
>    >    <sales@varsitychrysler.com>
>    >    >    @ENRON
>    >    >    >    >    >    Sent:   Friday, August 24, 2001 11:25 AM
>    >    >    >    >    >    To:     Dorland, Chris
>    >    >    >    >    >    Subject:  Re: Grand Cherokee
>    >    >    >    >    >
>    >    >    >    >    >    Hi Chris,
>    >    >    >    >    >
>    >    >    >    >    >    I am attaching the breakdown on a Grand
>    Cherokee
>    >    that
>    >    >    matches
>    >    >    >    your
>    >    >    >    >    >    request
>    >    >    >    >    >    as closely as possible.
>    >    >    >    >    >
>    >    >    >    >    >    The MSRP on the unit is $51,570 with pretty
>    well
>    >    every
>    >    >    >    conceivable
>    >    >    >    >    >    option -
>    >    >    >    >    >    I can get you this Grand Cherokee for the cash
>    price
>    >    of
>    >    >    >    $45,188
>    >    >    >    >    >    including
>    >    >    >    >    >    rebates.
>    >    >    >    >    >
>    >    >    >    >    >    Take a look at the attachment and let me know
>    if
>    you
>    >    have
>    >    >    any
>    >    >    >    >    questions
>    >    >    >    >    >    or
>    >    >    >    >    >    comments.
>    >    >    >    >    >
>    >    >    >    >    >    Have a great day,
>    >    >    >    >    >
>    >    >    >    >    >    Dwayne
>    >    >    >    >    >
>    >    >    >    >    >     - Chris.RTF << File: Chris.RTF >>
>    >    >    >    >    >
>    >    >    >    >    >
>    >    >    >    >    >
>    >    >    >    >    >
>    >    >    >
>    >    >
>    >
>    **********************************************************************
>    >    >    >    >    > This e-mail is the property of Enron Corp. and/or
>    its
>    >    >    relevant
>    >    >    >    >    affiliate
>    >    >    >    >    and may contain confidential and privileged
material
>    for
>    >    the
>    >    >    sole
>    >    >    >    use
>    >    >    >    of
>    >    >    >    >    the
>    >    >    >    >    intended recipient (s). Any review, use,
>    distribution or
>    >    >    disclosure
>    >    >    >    by
>    >    >    >    >    others is strictly prohibited. If you are not the
>    >    intended
>    >    >    >    recipient
>    >    >    >    (or
>    >    >    >    >    authorized to receive for the recipient), please
>    contact
>    >    the
>    >    >    sender
>    >    >    >    or
>    >    >    >    >    reply
>    >    >    >    >    to Enron Corp. at
>    >    enron.messaging.administration@enron.com
>    >    and
>    >    >    >    delete
>    >    >    >    >    all
>    >    >    >    >    copies of the message. This e-mail (and any
>    attachments
>    >    >    hereto)
>    >    >    are
>    >    >    >    not
>    >    >    >    >    intended to be an offer (or an acceptance) and do
>    not
>    >    create
>    >    >    or
>    >    >    >    evidence
>    >    >    >    >    a
>    >    >    >    >    binding and enforceable contract between Enron
Corp.
>    (or
>    >    any
>    >    >    of
>    >    >    its
>    >    >    >    >    affiliates) and the intended recipient or any other
>    >    party,
>    >    and
>    >    >    may
>    >    >    >    not
>    >    >    >    >    be
>    >    >    >    >    relied on by anyone as the basis of a contract by
>    >    estoppel or
>    >    >    >    otherwise.
>    >    >    >    >    Thank you.
>    >    >    >    >    >
>    >    >    >
>    >    >
>    >
>    **********************************************************************
>    >    >    >    >    >
>    >    >    >    >
>    >    >    >    >
>    >    >    >
>    >    >    >     - 60thAnniversaryGC.jpg << File: 60thAnniversaryGC.jpg
>    >>
>    >    >    >
>    >    >
>    >    >     - 60thAnniversaryGC1.jpg << File: 60thAnniversaryGC1.jpg >>
>    >    >
>    >
>    >
>
>


We have discovered two positions in the Debt Trading book which were not
being marked to market. The current mark of the 2 positions results in
approximately $4.7 million loss.  The details are in :

The primary control issues are:
? Trader did not adjust price to reflect the effect of market movements
? Operations did not perform monthly price verification processes
? Desk management failed to recognize that the marks on these two trades had
not moved over the term of the transactions (Q1 '00 - Nov 15th)

The losses have been recognized and a full review of the book is ongoing by
Operations.  The trader has been relieved of his responsibilities and we will
implement the steps agreed with Operations to ensure that we have a robust
approach to controls for the Debt Trading book going forward.


Thanks.  What's your fax number?  I'll get a copy of the Bilas alternate
decision to you as soon as I can.

Best,
Jeff

	Christian Yoder@ECT
	02/27/2001 01:17 PM

		 To: Jeff Dasovich/Na/Enron@ENRON
		 cc: pgboylston@stoel.com
		 Subject: Re: Alternate Decision on CPA Implementation (DWR rates and Direct
Access)

Jeff,
I will work with Pat Boylston to get some comments.  We should, as you say,
push this along if we can. ----cgy


dear bhaiya

i was making a list of all my contact addresses in USA.could u pls send ur
complete address& ph/mobile.

i am scheduled to come to US on 25th.
regards
gautam

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp


I'm out October 9 and 27.

Sheri L Cromwell@ECT
10/02/2000 05:42 PM
To: Peggy Banczak/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Bob
Carter/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Peter del Vecchio/HOU/ECT@ECT,
Chris Gaffney/TOR/ECT@ECT, James Grace/Corp/Enron@ENRON, Greg
Johnston/CAL/ECT@ECT, Karen E Jones/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT,
Anne C Koehler/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Travis
McCullough/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Julia
Murray/HOU/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Lance
Schuler-Legal/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT,
Stuart Zisman/HOU/ECT@ECT, Merrill W Haas/HOU/ECT@ECT, Ed B Hearn
III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Kay
Young/HOU/ECT@ECT, Suzanne Adams/HOU/ECT@ECT, Nella Cappelletto/CAL/ECT@ECT,
Janette Elbertson/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Carolyn
George/Corp/Enron@ENRON, Jan M King/HOU/ECT@ECT, Linda J Noske/HOU/ECT@ECT,
Linda J Simmons/HOU/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT, Matt
Maxwell/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron, Mark Powell/CAL/ECT@ECT
cc:

Subject: October Calendar

Please forward your October events (other than the conference) to me as soon
as possible.

Thank you!


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Market Participants:

The advisory billing statements for the September 2000 settlement
adjustment have completed posting to each customer's secure web site as of
10/06/2001.  Attached below is the version mapping needed for reconciling
your settlement adjustment invoices.

(See attached file: September_2000_SA1_Version_Mapping.xls)
 - September_2000_SA1_Version_Mapping.xls