ISDA PRESS REPORT - SEPTEMBER 20, 2001

ACCOUNTING
?       FASB to Issue for Comment Securitizations Guidance on Derivatives - BNA

REGULATORY
?       CFTC Offers Temporary Regulatory Reprieve in Wake of Terrorist Attacks - BNA

TRADING PRACTICE
?       ISDA moves to stabilise derivatives markets - Risk Magazine

OTHER ISSUES
?       Clearinghouses Diversify or Die - Appliederivatives.com

FASB to Issue for Comment Securitizations Guidance on Derivatives
BNA - September 20, 2001

NORWALK, Conn.--The Financial Accounting Standards Board Sept. 19 approved plans to publish guidance on an issue in which rules on derivatives accounting meet those for securitizations.
However, the accounting pronouncement is effectively held in abeyance so that the public can make comments on it as part of FASB's due process.

The guidance pertains to beneficial interests that arise in securitization transactions subject to FASB Statement No. 140, rules on transfers of financial assets that superseded FASB Statement No. 125. More specifically, the key provisions at issue would more clearly state which beneficial interests meet the definition of a derivative under FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities, and its amended version, FASB Statement No. 138.

That guidance, which FASB tentatively decided to propose as part of a forthcoming "technical corrections" project on derivatives issues, would replace Derivatives Implementation Issue No. D1, on the application of Statement 133 to beneficial interests in securitized financial assets.
Neel Foster and others on FASB spoke of the planned guidance as an improvement over Issue No. D1, which was devised with the assistance of FASB's Derivatives Implementation Group.

FASB's staff proposed the reading of derivatives accounting rules as they pertain to beneficial interests as staff guidance. Although he supported the substance of the guidance, Foster said, "It clearly is an amendment of 133 and 138" that warrants FASB's full due process.  Others on the board, such as John Wulff and Katherine Schipper, agreed. FASB Chairman Edmund Jenkins spoke of the importance of issuing timely guidance, and therefore supported a compromise devised in exchanges with Foster to issue guidance on beneficial interests that meet the definition of a derivative in the technical corrections effort that would be limited to issues stemming from the use of FASB Statements No. 133 and 138.

In that way, what Foster argued was a substantive change worthy of due process reserved for a proposed amendment to a standard would be floated for wide public comment. The timetable for technical corrections project is yet to be determined.  In the meantime, the proposed accounting prescription is to be posted soon at FASB's site on the World Wide Web.

Language on Beneficial Interests as Derivatives

Under the proposed guidance that was less controversial, FASB's staff described which beneficial interests are eligible for the scope exception under paragraph 14 of Statement No. 133--in other words, which beneficial interests arising in securitizations would not be accounted for as derivatives.  On which beneficial interests meet the definition of a derivatives under paragraph 6 of FASB No. 133, the staff proposed:

?       "If there is any initial net investment in a forward-based contract, the contract would not meet the criterion in paragraph 6(b). However, if a forward based contract has a de minimis initial net investment that represents compensation for terms that are more or less favorable than market conditions, an entity may choose to account for such a contract as either (1) a hybrid instrument that must be bifurcated into a debt host and a derivatives whose initial fair value is zero or, (2) a derivative in its entirety.

?       "An options-based contract that involves an initial net investment that is equal to the fair value of the option would meet the criterion in paragraph 6(b)."

Victoria Lusniak, a FASB staff accountant, suggested that, if the guidance is finalized or the change otherwise is made, existing DIG guidance would be affected. Issue No. A9, on prepaid interest rate swaps, would be superseded; Issue No. E15, on the "shortcut method" after a purchase business combination, would be modified; and Issue No. B12, would have to undergo minor changes, Lusniak said.

DIG Issues Cleared

In other business at FASB's Sept. 19 meeting, the board did not object to seven DIG issues, or items of guidance developed with the help of the group, which is moribund. Those include issues on the definition of a derivative, scope exceptions, hedges of fair value, cash flow, and foreign currency.  The items are to be posted on FASB's Web site as final, cleared guidance on Oct. 10, said Robert Wilkins, a FASB project manager heading up the derivatives accounting effort.

A DIG-related topic that generated the most debate was a proposal by Wulff to reconsider Issue No. C10, the result of earlier rulemaking on options and forward contracts with optionality features, to weigh exempting those derivatives from FASB No. 133 because they are deemed part of normal purchases or normal sales. Such derivatives are used by energy companies.
However, by a vote of 6 to 1, with Wulff dissenting, the board rejected that course.

Separately at the Sept. 19 meeting, FASB extended the comment deadline to Oct. 5 for two pending items that have been floated before the board's constituents and other interested parties. One item is a tandem proposal to possibly add two topics--on performance reporting and disclosures about intangible assets--to its rulemaking agenda.

The other is a survey of the Financial Accounting Standards Advisory Council on what standard-setting projects should be undertaken by FASB.  The deadlines were extended because of the terrorist attacks of Sept. 11, which FASB, in its first meeting since the tragedy, marked with a moment of silence for the victims.

CFTC Offers Temporary Regulatory Reprieve in Wake of Terrorist Attacks
BNA - September 20, 2001

The Commodity Futures Trading Commission moved Sept. 19 to salve some of the functional sting from the Sept. 11 attacks on New York's financial district, by announcing a package of regulatory relief aimed at giving registrants extra time to meet normally mundane commission requirements.

The CFTC said that for all registrants--including futures commission merchants, introducing brokers, commodity pool operators, and commodity trading advisors--it will not consider Sept. 11-Sept. 14 as "business days" for the purposes of calculating and meeting specific reporting and capital requirements, as well as bulk transfer obligations and records inspection requirements. The delay effectively extends those reporting deadlines.

Furthermore, firms that were physically disrupted as a consequence of the attacks and thus unable to make certain calculations concerning segregated funds and secured amounts, have been excused from that obligation for those four days.

Such damaged firms also will not have the four days counted against them, as either business or calendar days, for purposes of confirmation statements, transaction applications, and position closeout requirements, the CFTC said. Additionally, such firms will be excused for 31 days from requirements that their records be readily accessible.

Collateral Consequences

Though trading in most futures and options contracts resumed two days after the Sept. 11 attack, the CFTC said relief was necessary because of the collateral damage caused by the explosions and their aftermath. While most trading takes place in Chicago and electronically from all points, many registrants were located at ground zero in lower Manhattan. "This ... recognizes that firms may have had difficulty last week in moving funds, issuing notices, providing customers with access to records, or precisely measuring portfolio values," the CFTC said in a statement Sept. 19.

The commission also extended relief to firms that have taken residence in temporary or incomplete facilities. Those operations will be allowed through Oct. 11 to extend deadlines for calculations on segregated funds that normally would be due at noon on a given day, to the close of the business day.  Similarly, firms that are unable to access time-stamping equipment will be allowed to use "reasonable alternative methods" to document times through Sept. 21.

The CFTC also is asking firms that normally would file papers with the commission's New York regional office--which had been located in the now leveled World Trade Center--to send the items to the Chicago regional office at 300 South Riverside Plaza, Suite 1600 North, Chicago, Ill., 60606.

The National Futures Association, the leading organization representing the futures and options industry, said it worked with the commission to come up with the relief package. Larry Dyekman, a spokesman for NFA, said if the measures turn out not to be adequate, the group would consider pushing for more remedies.

Acting CFTC Chairman James Newsome, in a Sept. 19 statement, praised the registrants' preparedness for the almost unthinkable. "The foresight of their contingency plans, the steady hand of their leadership, and, most of all, the courage and tenacity of all of their people should instill in each of us great confidence in our nation's financial system," he said.

ISDA moves to stabilise derivatives markets
Risk - September 18, 2001
By John Ferry

The International Swaps and Derivatives Association has issued guidelines to help traders close outstanding equity derivatives positions following the major disruptions to financial markets caused by last week's terrorist attack on the World Trade Center.  The trade body also said the posting of one-year dollar swaps rates has resumed. "ISDA believes it is important to continue supporting orderly markets," said Jonathan Moulds, chair of ISDA's trading practice committee and head of global rates at Bank of America.

ISDA advised that "unless parties otherwise agree", Tuesday to Friday of last week should not be considered days on which valuation or expiry of equity options should have occurred. The statement is relevant only "where trading on a relevant exchange in the United States ceased or did not open as a result of the events occurring in New York City".

The latest statements follow advice given on Friday for the closing of energy-based derivatives contracts. ISDA advised that closing prices for the first day of trading following the market disruption should be used.

Clearinghouses Diversify or Die
Appliederivatives.com - September 2001

Diversification. That's the name of the game in the futures clearing community today. Derivatives clearinghouses, sparked by the demutualization of the traditional exchanges they serve, are now under more pressure than ever to search for new sources of revenue. Moreover, to retain their existing clients, they are expected to continuously expand and improve their technology and services.

Indeed, regardless of whether you are talking about the Board of Trade Clearing Corp. (Botcc), the London Clearing House (LCH) or the Chicago Mercantile Exchange's (CME's) Clearing House division, the ability to wear multiple hats while filling the specific needs of different types of customers is integral to success. "Just like the exchanges, clearing organizations are trying to reinvent themselves into traditional for-profit companies, almost as a way to try and ensure their survival," says a source close to the Botcc's board.

Of course, there is no standard recipe for reinvention. All of the world's largest derivatives clearinghouses are leveraging their assets in the name of evolution, but their business models and strategies for growth vary significantly.  For example, the CME and Stockholm, Sweden-based OM have attempted to separate their internal clearinghouses from the pack by licensing their in-house developed clearing systems to derivatives markets across the globe. In contrast, in lieu of licensing its software, the independently owned LCH has expanded its reach and power by providing central counter-party transaction processing services to many different markets in its home country.

Meanwhile, the Botcc is attempting to secure its future by offering its technology and services to up-and-coming B2B derivatives markets. In fact, to that end, the Botcc recently developed Meta-Clear, a comprehensive, Internet-based suite of applications that covers everything from traditional clearing to transaction processing and payment for over-the-counter derivatives.

Unlike its clearinghouse counterparts, however, the Botcc has one potentially large stumbling block in its path: the looming demutualization of its largest client, the Chicago Board of Trade (CBOT). Though the Botcc, like the LCH, is independently owned, it still receives most of its revenues from the CBOT, which clears all of its U.S. transactions through the 76-year-old clearing firm.

But the CBOT, following in the footsteps of other large derivatives markets like the CME, will probably eventually go for-profit-morphing from a member-owned exchange into a shareholder-driven market. And when it does, the management of the CBOT, facing pressure to increase profit from shareholders, may be forced to re-evaluate the exchange's long-standing clearing relationship with the Botcc.

"There is no doubt that demutualization at the CBOT could potentially lead to other views being taken of the services provided by the Botcc. So the Botcc needs to diversify ... (because) it is, at the moment, a very undiversified entity," says a LCH official.

Noting that the LCH provides central counter-party clearing services for the London International Financial Futures and Options Exchange, the London Metal Exchange, the International Petroleum Exchange, the London Stock Exchange, eSpeed and EuroMTS-among other clients-the official says that the LCH has an edge because it is truly independent. What's more, he says that while other clearinghouses focus on licensing their derivatives-clearing software, the LCH differentiates itself by providing full-service clearing services for a variety of instruments.

"Others lead the way by trailblazing new technology, we lead it by trailblazing new types of service," the official says. "There is no other clearinghouse in the world that does futures and options, cash equities, interest-rate swaps and fixed income-in the form of repo and cash bonds."

That said, while expanding into new markets is part of the LCH's modus operandi, the firm currently has no aspirations to chase after B2B derivatives exchanges. The B2B marketplace today, says the LCH official, is too illiquid to derive any benefits from central counter-party clearing. "All that a central counter-party is doing, with so few buyers and sellers within that space, is simply adding cost. So we just do not see an upside there," he says.

Betting on B2B

While the LCH is skeptical about B2B, the Botcc believes that the marketplace is ripe with untapped clearing opportunities. Thus far, the firm, which began its earnest pursuit of B2B in early 2000, has snagged two new clients: Opt4-a Berkeley, Calif.-based B2B trading systems vendor which the original Meta-Clear application suite was designed for-and Traiana-a developer of front-end applications targeted at online, B2B derivatives markets.

In the last couple of years, the Botcc has also signed agreements to provide U.S. transaction-processing services to BrokerTec-an all-electronic interdealer-broker of fixed-income securities-and the St. Louis Merchants Exchange-a start-up market that trades large freight futures contracts. What's more, says Botcc President and CEO Dennis Dutterer, the clearing corporation will likely ink deals with "two or three" more participants in the B2B space by year end.

Keeping all this in mind, Dutterer says the Botcc is confident that it can use its B2B strategy to diversify, while simultaneously maintaining its deal with the CBOT.

Sixty-five percent of the Botcc's revenues, he says, come directly from transactions funneled to the firm through the CBOT, and an additional 25 percent is derived through "capital" and shareholder fund management. The remaining 10 percent comes from other revenue sources, including B2B clients.

Still, though it clearly thinks B2B is an important market segment, Dutterer refuses to make any predictions about what percentage of Botcc's revenues will stem from B2B clients in the future. "We have not targeted a year-end revenue change, because that type of thing does not occur overnight," he says.

The source close to the Botcc's board of governors says that B2B truly presents a dilemma for the clearing corp. On the one hand, he says, the exchange-traded futures business is currently saturated-meaning very few clearing contracts remain up for grabs. However, though there may be as many as 50 new B2B markets, they have probably collectively traded only a few hundred contracts, the source says.

"Their only chance to diversify in a big way is to score a home run with one of these B2B deals," he says. "But at the end of the day, how much transactional B2B business is out there? Virtually none."

Integrated Approach

OM, like the LCH, does not think today's B2B markets offer a lot of opportunities for clearing firms. Richard Dour, the sales and marketing head of the financial systems unit of OM's technology division, says that OM is not actively trying to license its standard clearing system-Secur-to B2B markets. Rather, OM has marketed Secur to traditional derivatives and energy exchanges, at times trying to take advantage of the breadth of technology platforms it offers.

In addition to licensing its respective clearing systems on a standalone basis, OM and the CME can offer prospective clients something that the Botcc and LCH do not-an integrated trading engine/clearing system package. Together with its Clearing 21 platform, the CME offers exchange clients the ability to deploy Globex2-its trading engine-on an integrated basis. Similarly, OM can provide a combination of Secur and Click-its derivatives trading engine-for clients that desire an integrated solution.

Citing the fact the CME has publicly declared its intent to investigate a potential IPO, Merc officials declined to be interviewed for this story. But Dour says OM's integrated Secur/Click offering has netted the company a few exchange clients. Indeed, he says that in addition to OM's own exchanges, the Korea Futures Exchange, the Hong Kong Exchanges and Clearing Ltd., the Vienna Stock Exchange, the Athens Stock Exchange and Nordpool have selected the integrated Click/Secur package.

The source close to the Botcc's board says that the integrated offerings definitely provide the CME and OM with an edge in the battle for clearing contracts. "If you're a B2B or a new exchange, you need a trading vehicle and you need a clearing vehicle. They've got both of those systems, and the Botcc really only has one," says the source.

However, citing the development of Meta-Clear and the clearing corp.'s new clients-as well as its 76 years of experience-the Botcc's Dutterer says his firm matches up well with every other clearinghouse. While conceding that the likes of the CME, OM and LCH may have a larger client base of exchange customers to refer potential clients to, Dutterer adds that customer references will not make or break any clearing deal. "Large sophisticated organizations won't look solely at existing clients. They won't buy a Chevrolet just because their brother bought a Chevrolet. Rather, they will sit down and (evaluate) what features are offered," he says.

The source close to the Botcc agrees that exchanges are looking deeper than just client references when they search for clearing solutions. However, he says that in the U.S., at least, the public perception is that the CME Clearing House is better positioned than the Botcc. ""I think the Botcc product line may be better than the CME's clearing offerings, but the Merc does a better job with marketing," the source says.

The CME Clearing House, he elaborates, also has an edge because it is owned by an exchange that has already gone for-profit-and is therefore "more aggressively" seeking new business opportunities. That said, regardless of which Chicago clearinghouse holds an advantage today, rampant speculation about consolidation continues to cloud the future of the Botcc and CME Clearing House.

A couple of years back, of course, those organizations signed a letter of intent to merge-but never finalized the deal. However, pointing to merger talks that took place earlier this year between the Botcc and the Options Clearing Corp., the source close to the Botcc says that consolidation, in the name of survival, is inevitable.

"I don't really see a lot of opportunities for growth in the U.S. clearing market. Instead, I see consolidation. All of these clearing organizations in the U.S. are not going to make it," the source prognosticates.

**End of ISDA Press Report for September 20, 2001**

THE ISDA PRESS REPORT IS PREPARED FOR THE LIMITED USE OF ISDA STAFF, ISDA'S BOARD OF DIRECTORS AND SPECIFIED CONSULTANTS TO ISDA ONLY.  THIS PRESS REPORT IS NOT FOR DISTRIBUTION (EITHER WITHIN OR WITHOUT AN ORGANIZATION), AND ISDA IS NOT RESPONSIBLE FOR ANY USE TO WHICH THESE MATERIALS MAY BE PUT.
Scott Marra
Administrator for Policy & Media Relations
ISDA
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-2578
Fax: (212) 332-1212
Email: smarra@isda.org


check the web again


Can you recall if the trades (west desk) were swaps or puts?  SS

ps  I'm still trying to resolve


Vince,

Let me know when you've talked to Anjam about moving to Houston.  I need to
do his performance review this week and it would be good to get this on the
table with him before then.

Thanks

- Dale


sherry x1182
cynthia x1155


Please fill in the following and email me back by 10:00 tommorrow for your cost center section.  Don't worry about headcount,  just fill in the expenses on the detail expenses page.

Thanks


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All,

	Please find attached a list of all the files that are still located in the FundySecure area.
If you need help migrating anything please let me know I'll be glad to help.

Dave


When do you think you will be meeting to discuss these questions?

-----Original Message-----
From: Jeffrey.A.Shankman@enron.com [mailto:Jeffrey.A.Shankman@enron.com]
Sent: Monday, November 13, 2000 8:24 AM
To: lfastow@pop.pdq.net
Subject: Re: Presentation to Skilling etc.

<< File: Enron Art Collection Vision.doc >>
I'd like to know how we purchased the Katz.  Was that outside our budget,
and in Ken's dining room budget?  Mike and I will get together and address
the points you bring up below.  Looking forward to our meeting.

Regards.....Jeff

"Lea Fastow" <lfastow@pop.pdq.net> on 11/12/2000 02:32:32 PM

To:   "Mike. McConnell" <Mike.McConnell@enron.com>
cc:   "Andrew S. Fastow" <Andrew.Fastow@ljminvestments.com>, "Jeffrey. A.
Shankman" <Jeffrey.A.Shankman@enron.com>
Subject:  Presentation to Skilling etc.

Mike,
As you know, I have arranged for a meeting on December 6th among the Art
Committee and Jeff Skilling.  I feel that you should run this meeting.  I
would like to accomplish the following:

1) Discuss our Vision for the collection
2) Introduce Ned and Barry
3) Describe art locations in/outside the buildings
4) Discuss progress made to date and timetable
5) Discuss the process:  To what extent Jeff wants to be part of the
decision process going forward (i.e. is he comfortable approving our Vision
and having us implement? ...Or does he want veto power on each piece?)  The
latter would be cumbersome, and I personally would prefer the former, but
we
definitely need clarification on this before we can proceed.
Questions right now for you:
1)   Would you like to invite Ken to join us in the meeting?
2) Ned cannot make it that day (first available day is Dec. 18th) so should
we postpone?  Barry is a "maybe".  Remember they are there to help us shape
a high quality collection and to make sure that we do not make any
purchasing "mistakes".
3) I have a first draft of the presentation, when can we meet to discuss
it?
Following on our last meeting with Gensler, I am assembling a detailed list
of potential art locations by floor (including dimensions when possible) so
that we have a Master from which to work.  I will run it by Bonnie McCloud
and Bill Donovan to assure its accuracy.
Lastly, I have asked Bill Viola (the video artist for the work we are
considering) to come down to Houston to meet with us and with Gensler to
discuss where his piece might fit in the new building.  I have also placed
a
call  Rob and Gregg at Pelli to let them know that I would like for them to
meet with a wonderful up and coming artist (Olafur Eliasson) who would like
to propose a "water piece" for the circular drive.  You will recall that
Pelli would very much like to have a water piece there.  Eliasson is very
well respected and innovative: He's created waterfalls that flow "up" and
wonderful minimal installation pieces that are quite beautiful.  I've asked
his gallery to let us know if he could meet with Pelli in Connecticut or in
Houston on their next trip.
Lastly, Enron has purchased the Alex Katz painting that is currently
hanging
in 50M.  Please call me so I can brief you on how that happened.

I look forward to hearing from you soon.
Lea

(See attached file: Enron Art Collection Vision.doc)


Please run a forwards detail on your books and email me if you have any value
for these counterparties as of 12/29/01.  Jad we will do yours together.
Thanks.
PL

---------------------- Forwarded by Phillip M Love/HOU/ECT on 03/21/2001
10:08 AM ---------------------------

Jeffrey C Gossett
03/21/2001 09:54 AM
To: Kam Keiser/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Phillip M
Love/HOU/ECT@ECT
cc: Wendi LeBrocq/Corp/Enron
Subject: 12/29/2000 - MTM

Two more counterparties need MTM values for Dec. 29, 2000.

The Tudor BVI global portfolio
Osprey Portfolio Group

Please provide the total MTM value for that date within your region.

Thanks


---------------------- Forwarded by Tom Swank/HOU/ECT on 04/21/2000 10:41 AM
---------------------------

Reed.Wills@UAECorp.COM (Reed Wills) on 04/20/2000 04:43:20 PM
To: Tom Swank/HOU/ECT@ECT
cc:
Subject: Draft Term Sheet

Please review and lets discuss Monday (I am off tomorrow).  I have a rough
consensus on this but I am waiting to circulate it following our discussion.

Check out the new item on gas imbalance risk and see if it works.  I did not
go
to 5.5 years (through 2006), but that would help our case.  Also I tried to
quantify the capital I want to have at risk at the end of the 4.5 year toll.
Hope this helps you evaluate other alternatives.

If you have comments tomorrow I'll review them over the weekend and make
changes.  Thanks.

NOTE:  We also need to know if you are going to move ahead on Ameren.  Your
comments to date on size make me think Enron is 50/50.  Please let me know
asap.

 - ENA_terms.xls


----- Forwarded by Sara Shackleton/HOU/ECT on 08/10/2000 08:24 AM -----

	E*TRADE <etradeservice@etrade.0mm.com>
	08/09/2000 06:26 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Decimalization Is Coming Soon!

Get ready...decimalization is coming soon!

Dear SARAH:

To bring the U.S. securities markets in line with foreign markets and
make the pricing easier to understand, the Securities Industry
Association and the Securities and Exchange Commission have agreed to
convert the existing U.S. stock and exchange-traded options markets
from fraction to decimal-based pricing. The SEC has recently mandated
that this project be initiated no later than September 5, 2000.

As of this date, it hasn't been decided whether stocks will be traded
in nickel or penny increments. The NYSE will begin testing the decimal
system in September with a group of 50 stocks traded to the penny,
while all others will continue to be quoted in fractions. To ensure
that the transition progresses smoothly, with no disruption to the
functioning of the market, other stocks and options will convert
gradually to decimal pricing over a period of six months.

What this means to you as an E*TRADE customer:

Decimalization means you'll soon see the prices for stocks and options
quoted the same way they are at the grocery store or the gas station:
$20.50 (not $20-1/2) and $35.25 (not $35-1/4). By April 1, 2001, every
price you see on your trade confirmations, statements, on the E*TRADE
Web site, in the newspapers, and on the stock tickers on television
will be expressed in decimals.

E*TRADE is prepared to do everything possible to make this transition
from fractions to decimals a smooth one. Beginning in August, we will
post more information about the conversion to decimal pricing on our
Web site. Please check regularly for updates.

As always, thank you for investing with E*TRADE. We look forward to
serving you for many years to come.

Sincerely,

Suzi White
E*TRADE Vice President, Service Quality

P.S. Remember, stay tuned to the E*TRADE Web site for updates. In the
meantime, check out the following sites for additional information.

Securities and Exchange Commission (SEC)
Office of Investor Education and Assistance
http://e-trade.0mm.com/ETR066009+C

National Association of Securities Dealers (NASD)
Decimalization Program Management Office
http://e-trade.0mm.com/ETR066010+C

New York Stock Exchange
http://e-trade.0mm.com/ETR066011+C

Securities Industry Association (SIA)
http://e-trade.0mm.com/ETR066012+C

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reserved.

 - att1.htm


We are reviewing the security tapes today.  The tape doesn't lie!

303-575-6473

-----Original Message-----
From: Christina Rawlings-Curtis [mailto:christina_122367@hotmail.com]
Sent: Tuesday, October 23, 2001 12:48 PM
To: Whitt, Mark
Subject: No Seinfeld?

That sucks.  It would have been fun, but I definetly plan to be at the
Little Bear that Friday night.  Got any work I can do from home?  Seriously!
  How is my Paulie today?  Just remember...what ever he says...it's a lie!
What's your office #, or are you not allowed crude calls during business
hours?

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


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 05/15/2001 02:56 PM -----

	John Malowney/ENRON@enronXgate
	05/14/2001 09:55 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: FW: ISDA

Sara, some time ago we forwarded Louisiana-Pacific (L-P) an ISDA for their
review and consideration.  They have responded with the following comments.
Can you give me a hand in addressing them?  John

 -----Original Message-----
From:  "Roger Dieringer" <Roger.Dieringer@LPCorp.com>@ENRON
[mailto:IMCEANOTES-+22Roger+20Dieringer+22+20+3CRoger+2EDieringer+40LPCorp+2Ec
om+3E+40ENRON@ENRON.com]
Sent: Wednesday, May 09, 2001 11:49 AM
To: Malowney, John
Subject: ISDA

John,

Listed  below are several issues we need to have addressed prior to signing
the  agreement!

1)  Curt Stevens name is consistently  misspelled throughout the documents.
We should also be sure that our new  corporate address is used.  805 SW
Broadway, Suite 1200,  Portland, Oregon 97205-3303.

2)  Enron doesn't like late payments or early termination of their
agreements.  Interest on amounts owing is compounded daily.  John - this
needs to be changed.  What other decent  arrangements can be put in here.  (I
thought only loan sharks compounded  daily?)

3)  Part 3 of the Schedule to the Master Agreement should be amended to
provide that  LP may satisfy its obligation to provide updated financial
information by  posting it to EDGAR or on the web. Enron now has that
ability.

4) We  don't have the 1991 ISDA Definitions or the 1993 ISDA Commodity
Derivatives  Definitions cited in Parts 5 and 6 of the Schedule to the Master
Agreement. I  wasn't able to locate them on the web. We will need these
provide  to LP.

5) The  Credit Support Annex is designed to apply to ISDA Agreements subject
to New York  law. Our Agreement is subject to Texas law. We may not have  the
proper form.

Let me know at your convenience.

Thanks
Roger


We just wanted to let you guys know of some changes in order to keep the terminations being processed in a timely manner.  It appears that all Netco employees may be taken off of systems access for Enron this weekend.  In case this is true, Darron and I have transitioned from handling these requests.  Greg Couch is going to be leading the estate risk effort and Pat Ryder and Chance Rabon will be handling all termination list issues.  Please send these lists to these three people in lieu of Darron and I.  As a side note, could you send an updated financial termination list(if this list has changed since you sent it to me Kim) to these guys so that they can verify deals are moved to the proper book.  It is probably a good idea for future termination scripts to come through Greg before going to IT because of several book moves we have made to facilitate reporting to Ed McMichael.  For example the price book has been basically split into three books.  Please shout with any questions or concerns you may have.  Thanks.
PL


Please print the attachment.  Thank you.

 -----Original Message-----
From: 	Walls Jr., Rob
Sent:	Friday, May 25, 2001 2:45 PM
To:	Derrick Jr., James
Subject:	FW: MSEB ltr

	Jim -

	Our response -- only if you have time.  I thought you should have a copy in any event.

 -----Original Message-----
From: 	Lundstrom, Bruce
Sent:	Friday, May 25, 2001 12:17 PM
To:	McDonald, Rebecca; Hughes, James A.; Walls Jr., Rob
Subject:	Re: MSEB ltr

---------------------- Forwarded by Bruce Lundstrom/ENRON_DEVELOPMENT on 05/25/2001 12:16 PM ---------------------------

Suhas Tuljapurkar
05/25/2001 09:43 AM
To:	Paul Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gail Brownfeld/Enron@EnronXGate, sandeep.katwala@linklaters.com, Christopher.Walker@linklaters.com, lbrasher@skadden.com
cc:

Subject:	Re: MSEB ltr

Please see attached....as promised

Leena Mathews
05/25/2001 05:11 PM
To:	Jimmy Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Atul Agarwal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Suhas Tuljapurkar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mrudula Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject:	MSEB ltr

<Embedded Picture (Device Independent Bitmap)>
<Embedded StdOleLink>
<Embedded Picture (Device Independent Bitmap)>
<Embedded Picture (Device Independent Bitmap)>
<Embedded Picture (Device Independent Bitmap)>


As you are all aware, EBS has grown to be a significant part of Enron.  The
EBS/Blockbuster movies on-demand announcement this week, as Merrill Lynch put
it, &confirms the tremendous inroads Enron has made in the telecommunications
business.8  We expect this deal to be a springboard for enabling EBS to
accomplish even greater things.

Because we believe that EBS is integral to Enron,s success, it is becoming
increasingly important for greater interaction among EBS senior management,
corporate leadership and our Houston-based business units.   In short, we
determined that it is necessary for the CEO to be based in Houston, although
the Portland office will remain an integral part of EBS.

Joe Hirko as CEO and Ken Rice as Chief Commercial Officer have accomplished
great things, and we believe that both are completely qualified to fill the
CEO role moving forward.  However, Joe has decided to stay in Portland for
family reasons, and as a result, Ken will assume the role of CEO for EBS,
effective immediately.

Joe, unfortunately, has decided to leave Enron.  We want to recognize Joe for
his role in making EBS a success.  He started the business, demonstrated its
value to Enron management, and brought the team together to create the EBS
vision.

We do believe that EBS will continue to grow and succeed under Ken,s
leadership.  Throughout his 19-year career with Enron, he has consistently
been a driving force in building businesses.

Please join us in wishing both Joe and Ken great success.


I will be out of the office; returning Monday Nov. 26.


Over the past several months, we have reviewed in detail our trading
contracts and the companies through which we conduct our trading business in
California.  In order to reduce Enron's non-market risks ( e.g. legal, credit
and regulatory) in the volatile commodity markets in California or any "
future California", we propose the following changes:

1.    Mandatory Uniform Set-Off Provisions in All Trading Contracts for All
Commodities -- set-off language varies commodity by commodity in trading
contracts.  Set-off is one of the most critical tools available to Enron in a
major default situation and it is critical to have set-off language and to
have it be uniform commodity to commodity so that Enron can get the best
advantage from set-off and not just the least common denominator.

2.     Master Netting Agreements For Appropriate Counterparties With Multiple
Masters With Significant Opposite Exposures -- where it is necessary to have
multiple masters with a counterparty, a "bridge" should be put in place
between the masters whenever there is significant opposite exposures under
the two or more masters.

3.     Merge EPMI into ENA -- power trades are done through EPMI.  Merging
EPMI into ENA and conducting power trades through ENA is much more efficient
from both a credit and legal point of view.

4.     No Automatic Termination for a Bankruptcy Event -- in the PGE/SCE
situation, it should be the non-defaulting party's (Enron in this case)
option to terminate rather than an automatic termination on "inability to pay
debts as they become due".

Let me know if you have any other proposed changes to our trading contracts
or entities through which we conduct our trading.  I believe these changes
will (i) improve efficiency, (ii) reduce risks, (iii) develop the opportunity
to do more business with certain counterparties and (iv) substantially
improve Enron's position in the next California type market.  The long range
goal is to conduct as much as possible of the trading business through a
single entity and a single or limited number of standardized agreements.


Eric

I do NOT want to announce this when it happens.  We have been quietly
avoiding how much activity we have done so far and many people assume that we
already have done many...an assumption that helps us.  So please do NOT issue
this.

Eric Thode@ENRON
12/04/2000 04:19 PM
To: Jeffrey McMahon/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT, Tim
Battaglia/NA/Enron@Enron, Greg Hermans/Corp/Enron@Enron, Mark
Frevert/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT
cc:
Subject: DRAFT PRESS RELEASE: Enron Announces First Financial Swaps Products
for Steel Industry

Attached is a draft press release for the steel group.  Please review and
provide any comments to me by Wednesday, December 6 at noon.  Upon approval
by EIM/EWS, I will route to corporate PR and corporate IR for final
approvals.  If you have any questions or comments, please call me at ext.
3-9053.

Eric


Jeff

Since Chris Booth is out of the office, Ben Jacoby has asked me to coordinate
sending you the executed originals for Blue Dog Change Orders # 1 and # 2.  I
have retained one set of originals for our records, and I am sending the
other set of originals to you via Fed Ex tonight.  If you have any questions
or concerns, feel free to contact me at 713-345-7968.

Regards,
Rebecca Walker


I just spoke with Mirant's attorney, David Fields.  Two originals of the
guaranty are being sent to us; we should sign both and return one original to
Mirant.  The other should be kept for our files.  Mirant is not interested in
receiving a signed version of the fax back, so just wait for the originals to
arrive before getting any signatures.  Finally, David told me that James
Ward, who signed the guarantee is Vice President and Chief Financial Officer
of Mirant Corporation.  You might want to confirm this with Nicole Russell
since Mirant's home page on the net lists him as Senior Vice President,
Finance and Accounting.  Thanks.


Prudential Sees Bull Market Running Two More Years

With gas futures prices soaring past $5, now is not a bad time to raise price
forecasts and expectations for the coming winter and next year. Prudential
Securities did just that yesterday, upping its predictions on spot wellhead
prices to $4.10 for the second half of the year, $3.55 for all of 2000 and
$3.65 for 2001.

"[W]e believe the natural gas industry could continue its bullish run for
another two years or more and the next 18 months look like a 'lay up,'" the
investment banking firm said in its latest quarterly report on natural gas
fundamentals. Below average storage inventories and increasing gas-fired
electric generation demand should keep the bull market running, the report
stated.

Prudential expects storage to end the injection season at about 2,660 Bcf, or
11% below last year's level. "This is assuming that the average injection
rate is at or above the eight-year historical average during that period, and
so far this year refills have been at or below the historical average.
Depending on the winter weather, the industry typically consumes 2,000-2,500
Bcf out of storage inventories, which would likely bring storage levels down
close to record lows next spring."

Prudential expects supply tightness to continue even with the addition of the
1.325 Bcf/d Alliance project, which is due to come on line next month. "[W]e
question whether the Alliance pipeline will add incremental supplies to the
U.S. or simply displace gas supply out of the Alberta region currently
flowing down the TransCanada pipeline system." Prudential predicts Alliance
will open up Oct. 2 with 600-700 MMcf/d of gas flowing. "The perception of
the continued tightness in the gas supply picture is likely to result in an
increase in volatility in natural gas prices."

Prudential also estimates that 1.5 Bcf/d of gas demand has been added this
summer by new gas-fired power plants going on line. "Over the past few weeks,
over 2,400 MW of new merchant capacity has been added to the grid, equating
to about 480 MMcf/d of capacity. Earlier in the summer, 3,600 MW came on line
and another 1,780 MW started up in May. In aggregate, about 7,800 MW of new
summer generation load could collectively consume 1.5 Bcf/d, which is likely
to be diverted from storage injections."

The firm estimates that wellhead deliverability will pick up significantly.
The rig count has grown 48% since last year. Production from the deep-water
Gulf of Mexico is expected to add 3.6-4 Bcf/d of new supply, "more than
offsetting the deliverability decline, but shy of total expected new demand.
We forecast gas demand will rise 3.1% in 2001, fueled by growth in merchant
power generation."

Prudential noted that on the books is another 37,000 MW of additional new
gas-fired generation capacity to be installed next year and 43,200 MW in
2002.


Due to recent events, mixed messages are permeating on what is appropriate business protocol.  Specific to my activities I need the following clarification:

1)	Travel Limitations - Is there an unspoken move to limit travel and business expenditures?  Is this business smart (as I currently manage) or specific to Enron's current status?

2)	Strategic Asset Development - I currently have no employees committed to this group, yet my prior group is transitioning to Frank.  Do I have the continued authority to build a business which includes new employees,  new infrastructure, etc.?  If I need to wait for some specific timeline (5 - 10 days), please give me a nod.  Especially during this time, I need to be busy/head down/about business...

I would appreciate your response.

Thanx,
Laura


fyi
---------------------- Forwarded by Michael Eiben/HOU/ECT on 03/21/2000 04:18
PM ---------------------------

Gary Anderson@ENRON on 03/21/2000 02:25:52 PM
To: Michael Eiben/HOU/ECT@ECT
cc: Jeff May/GPGFIN/Enron@ENRON, Charlotte Hawkins/HOU/ECT@ECT, Robert E
Lloyd/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT,
George Grant/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Steve
Venturatos/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT
Subject: Re: PG&E Texoma Volumes

This is an outside measured volume that we don't receive volumes on until
month's end so systematically, no information equals zero. SPI, the software
vendor for MIPS is investigating all of the rules currently in place for file
transfers, particularly  0 volumes. The only possible solution is to tag all
zero volumes sent in the nightly file process as (i) incomplete. I will let
you know the outcome of this investigation and the monies required to
complete. We may require a work order to complete based on the outcome of the
investigation.

Michael Eiben@ECT
03/21/2000 10:50 AM
To: Jeff May/GPGFIN/Enron@ENRON, Gary Anderson/GPGFIN/Enron@ENRON
cc: Charlotte Hawkins/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT, Gary A
Hanks/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT, George Grant/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Steve Venturatos/HOU/ECT@ECT, Brenda F
Herod/HOU/ECT@ECT

Subject: PG&E Texoma Volumes

Jeff/Gary,
 Where is measurement in the process of sending Pipeline Operations more
complete data?  We continue to have this problem at various bidirectional
meters and meter 980071 below is the latest casuality.  When MIPS sends
Pipeline Operations a zero prelim, this becomes the best available number and
overlays the estimate that Gas Control sends us.  When this happens &
scheduling doesn't catch to override the zero, the desk's expense is
understated. This is causing a huge mess for Texas Operations.  What is the
plan to move this up on measurements priority list?  We need an answer ASAP!!

Charlotte,
 At what other meters are we having this problem?

MVE
---------------------- Forwarded by Michael Eiben/HOU/ECT on 03/21/2000 10:30
AM ---------------------------

	From:  Charlotte Hawkins                           03/21/2000 09:54 AM

To: Jeff May/GPGFIN/Enron@ENRON, Michael Eiben/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON, George Grant/HOU/ECT@ECT, Robert E
Lloyd/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT
Subject: PG&E Texoma Volumes

I spoke with Romeo D'Souza this morning regarding the on-going problem of
MIPS feeding zeros to POPS when incomplete data is received.

In light of the e-mail below regarding how important it is that we receive
accurate data from MIPS ....  could you please update me on the status of
this correction.

Thank you so much.

Charlotte Hawkins

---------------------- Forwarded by Charlotte Hawkins/HOU/ECT on 03/21/2000
09:35 AM ---------------------------

Lauri A Allen
03/21/2000 09:04 AM
To: Robert E Lloyd/HOU/ECT@ECT, Tom Acton/Corp/Enron@ENRON, Charlotte
Hawkins/HOU/ECT@ECT
cc: Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Bryan
Hull/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT
Subject: PG&E Texoma Volumes

In reviewing some of the imbalance numbers, I discovered that Valero Texoma
(#71) BAV volumes have not fed into POPS since 3/14 causing an out of balance
at the meter in excess of 500,000mm month to date.  The more critical part of
this problem, however, is that POPS has fed 0 volumes back to Sitara on some
of the HPLC deals.  This means that these purchase volumes (expenses) have
not been picked up in Tom's P&L and are, instead, sitting in UA4.  To the
extent that the purchase prices vary from the UA4 value, the P&L may take a
hit when these actual volumes flow through.

I realize that Kim is out and that you guys are stretched thin, however, a
problem of this magnitude needs to be addressed as soon as it's discovered.
Someone needs to be overriding the 0 volumes so that Sitara is receiving
correct information and the P&L is kept as accurate as possible.

Please give me a call if you have any questions.


"United We Stand" Big E Caf?

Friday, September 28
11:30 a.m. - 1 p.m.
Antioch Park

Patriotic Music
featuring
The Salvation Army Harbor Light Choir

Free mementos for everyone!

"United We Stand" t-shirts will be on sale for $6.00 outside on the Andrews side of the Enron Building this Wednesday and Thursday, 11 a.m. - 1 p.m., and at the event on Friday.  Cash and checks will be accepted.

Wear your t-shirt or red, white and blue on Friday!

You'll be able to sign two large banners that will be displayed by local employees to honor the people of New York and Washington D.C.

You'll also be able to sign personal letters that will be included in care packages for the firefighters involved in the New York recovery efforts.

James Coney Island will serve hot dogs, hamburgers, veggie burgers, chips and apple pie for $5.00.

See you there!


Sara,
Sorry, I was too assiduous in deleting what I thought would be duplicated on
this thread, so I'm working from memory on comments before Guenther's last
contribution.

Data for pricing is owned by Enron Credit Ltd (generated by employees of
Enron Power Operations Ltd whose costs are charged to ECL)
Information deals are done with ECL (Derivative transactions are currently
with Enron North America Corp, probably with Enron Credit Inc in the future)
The Enron staff who would be looking at this are employed by Enron North
America Corp which is why I suggested ENAC as the named party.
They clearly act for ECL on information deals.
If it's OK to use ECL then that would be easier for us.

I have no objections to suggestions that I should be promoted! In the
meantime, I am a board director of ECL and have both legal and group
management authority to sign contracts (with a lawyer's initials being a
prerequisite).

Regards,
Richard

From: Sara Shackleton on 16/02/2001 08:44 CST
To: Guenther Klar/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT

Subject: Re: Confidentiality Agreement with Scana

Guenther:

Thanks for the response.  I'll wait to hear from Richard Sage as to who owns
the information.
Only officers at the VP level or higher may execute binding contracts for all
Enron U.S. companies (bylaws).  I do not know the "rule" for non-U.S.
companies (although I suspect the articles of association would contain that
information).

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

	Guenther Klar
	02/16/2001 08:24 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Janine Juggins/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement with Scana

Sara

You are right about the tax issue - in fact, we are in the process of
replacing the UK directors and officers of Enron Credit Inc with US directors
and officers.

The entity that signs up to the confidentiality agreement ought to be the one
that owns the information to be supplied.  Based on conversations I have had
with Richard Sage, I had formed the impression that the owner of the
information was Enron Credit Ltd.  If this is right, we should pursue your
first suggestion.  Otherwise, given that the tax issue is being rectified and
this should therefore be an isolated incident, I think we can wear the tax
risk inherent in your second suggestion.  Though I do wonder whether an
officer of Enron Credit Inc, such as Richard Sage (currently), could sign,
rather than a director?

Kind regards

Guenther Klar


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/28/2000
04:32 PM ---------------------------

Peter Augustini <paugustini@CERA.com> on 01/28/2000 02:51:24 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Special Offer - Power Transmission Workshop

Mr. Vincent J. Kaminski
Vice President, Research
Enron Capital & Trade Resources Corp.

Dear Mr. Kaminski:

We want to make a special offer to you regarding the mid-project workshop
for CERA's new study "High Tension: The Future of Power Transmission in
North America".  This session will be held on Friday, February 11, 2000 from
8:30AM - 1:30PM in the Monarch Room at the Westin Galleria Hotel, in
Houston, Texas.

In consideration of your participation in CERAWEEK 2000, we invite you to
enroll in the workshop for a special, stand-alone fee of $5,000.
Participation in the workshop (normally available only to those enrolled in
the study) will provide you with the workshop briefing book, a recap of work
to date, a review of the initial scenarios and an interactive discussion on
sign posts, strategic implications and business segment analysis.

To view the online prospectus for the study, and to get the workshop
enrollment form, please go to:
http://eprofile.cera.com/cfm/track/mc.cfm?p=522&c=2804

This timely and important study analyzes the key issues and uncertainties
facing the electric transmission business, including industry structure,
strategy, policy and regulation, technology, market structure, reliability,
and operations.  The main project objective is to develop a scenario-based
framework for understanding the risks and business opportunities.

We hope you can join us for this timely event, and to take advantage of this
special offer.  To enroll in the workshop, please complete and return the
form found on the web page above.  For more information, please contact me
by phone at (617) 441-2610, or by email to paugustini@cera.com .

Sincerely,

Peter Augustini
Director, North American Energy

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

 - att1.htm


----- Forwarded by Jeff Dasovich/NA/Enron on 03/14/2001 11:10 AM -----

	Joe Ronan <JoeR@calpine.com>
	03/14/2001 11:02 AM

		 To: "'Jean Munoz'" <jmunoz@mcnallytemple.com>, Katie Kaplan
<kaplan@iepa.com>, "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown
Andy (E-mail)'" <andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'"
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'"
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'Douglas Kerner (E-mail)'"
<DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan
Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, Joe Ronan <JoeR@calpine.com>, "'John Larrea
(E-mail)'" <john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, Kassandra Gough <kgough@calpine.com>, "'kent Palmerton
(E-mail)'" <kent.palmerton@williams.com>, "'Kristin Vellandi (E-mail)'"
<kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>,
"'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, Jack Pigott <jackp@calpine.com>, "'Richard
Hyde (E-mail)'" <rwhyde@duke-energy.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'"
<roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'"
<stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross
(E-mail)'" <tross@mcnallytemple.com>, "Carol H Hudson (E-mail)"
<Chudson@iepa.com>, steven kelly <steven@iepa.com>, "'Anne Kelly (E-mail)'"
<kelly@hnks.com>, "'Chuck Cole (E-mail)'" <ccole@advocation-inc.com>,
"'Delany Hunter (E-mail)'" <dhunter@smithandkempton.com>, "'DJ Smith
(E-mail)'" <djsmith@smithandkempton.com>, "'Hedy Govenar (E-mail)'"
<hgovenar@acom2.com>, mmoretti@mccabeandcompany.net, "'Maureen OHaren
(E-mail)'" <Oharen@hmot.com>, "'Mike Monagan (E-mail)'" <mrmonagan@aol.com>,
"'Phil Isenberg (E-mail)'" <isenberg@hmot.com>, "'Robert Ross (E-mail)'"
<robbiz@cwo.com>, "'Ron Tom (E-mail)'" <Rtom@govadv.com>, "'Scott Govenar
(E-mail)'" <sgovenar@govadv.com>, "'Susan Mccabe (E-mail)'"
<sfmccabe@mindspring.com>, rtemple@mcnallytemple.com,
megan.beiser@edelman.com, tracy.fairchild@edelman.com,
deborah.fiorito@dynegy.com, tcwillia@duke-energy.com
		 cc:
		 Subject: Wyden Bankruptcy Amendment--URGENT

The Wyden Amendment to the Bankruptcy Bill is being debated on the Senate
floor as we speak. If it passes,the QF's in California will be severly
imnpaired ina bankruptcy proceeding. I hope that you have contacted your
Congressional representatives. Feinstein is fighting this and Boxer has
suppoted, then opposed it, and may be supporting it again. EPSA and EEI
opposed the Amendment. Jan--has IEP weighed in yet?
-----Original Message-----


---------------------- Forwarded by Joan Quick/HOU/ECT on 10/24/2000 10:53 AM
---------------------------

Theresa Staab@ENRON
10/24/2000 10:53 AM
To: Joan Quick/HOU/ECT@ECT, Mark Whitt/NA/Enron@Enron, Gerald
Nemec/HOU/ECT@ECT
cc:
Subject: November Nominations into NWPL

Here's the e-mail from Liz Orr regarding November.  Looks like we still have
to nominate into Questar.

Let me know if I need to do anything.

Theresa

---------------------- Forwarded by Theresa Staab/Corp/Enron on 10/24/2000
09:51 AM ---------------------------

"Orr, Elizabeth" <Elizabeth_Orr@kindermorgan.com> on 10/24/2000 09:15:01 AM
To: "'tstaab@enron.com'" <tstaab@enron.com>
cc:

Subject:

Sorry, no good news.  Grand Valley still can not deliver to NWPL in
November, so no additional space has opened up at Foundation Creek.  It
looks like your contract must still go to Questar.  I'll keep you posted of
changes.
Liz


Steel is not part of global markets, and if you could take it off this
report, I'd appreciate it.  Also, Please add a section that shows new
products as we add them to the portfolio.

Thanks.  Jeff

	Enron North America Corp.

	From:  Peter Berzins @ ENRON                           12/13/2000 10:06 AM

To: Jeffrey A Shankman/HOU/ECT@ECT, Jennifer Burns/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, David Forster/Corp/Enron@Enron, Kimberly
Hillis/HOU/ECT@ect
cc: Torrey Moorer/HOU/ECT@ECT, Matt Motsinger/HOU/ECT@ECT, Jennifer
deBoisblanc Denny/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Simone La
Rose/HOU/ECT@ECT, Andy Zipper/Corp/Enron@Enron
Subject: Global Products Report for 12-12-00

Do not update links when opening this file.

Let me know if you have any questions.

Thanks,
Pete Berzins
x57597
EnronOnline


I would be shocked if HH did not have insurance for the line repairs. We
should ask their atty about this.

	Ann Elizabeth White
	05/24/2000 12:15 PM

		 To: Candace L Bywaters/HOU/ECT@ECT
		 cc: Nathan L Hlavaty/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 Subject: Re: Outstanding Invoice - Houston Hydrocarbons

Candy

I spoke to Steve and Gerald  about this last week.  On the monies they owed
us under the gas lift contract, we gave them until May 10th to respond or we
would institute litigation.  The attorney for HH, Jim Williams, called me
last week and basically laid it out that HH sold all of its assets to White
Oak back in December (and we already had been so informed by White Oak), that
HH doesn't have any assets left and we could go after the principals if we
wanted but they probably wouldn't even file an answer and we could just get a
judgment and renew it every ten years for as long as we pleased.  He offered
a flat settlement amount of $15,000 on our claim of $35,284.95.  Steve has
given me the authority to accept the offer but after doing so will ask about
settling the $11,000.00 claim for the line repairs.  Quite honestly, I don't
hold out much hope of HPL recovering anything more than $15,000 but that is
$15,000 more than we have right now.  Also, since Gerald was working on the
gas lift debt, I've asked him to notify credit and put HH and its principals
on the credit risk list so that we don't do any more deals with them.

	Candace L Bywaters
	05/24/2000 06:22 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Nathan L Hlavaty/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT
		 Subject: Re: Outstanding Invoice - Houston Hydrocarbons

As I recall, we were trying to muscle HH into paying that invoice for line
repairs via you, Richard.  Had we decided to abandon our efforts due to their
adamant denial of liability and refusal to pay?  It's really not enough money
to go to court over.

Pls advise.

Meredith Powers
05/23/2000 01:08 PM
To: Candace L Bywaters/HOU/ECT@ECT
cc: Yvette Miroballi/HOU/ECT@ECT, Anita Eisenbrandt/HOU/ECT@ECT
Subject: Outstanding Invoice - Houston Hydrocarbons

There is currently an invoice still outstanding from Houston Hydrocarbons.
Here are the details:

Date of invoice:  12/9/98
Amount:  $11,775.86
Re:  Cost incurred to repair your 2" pipeline known as Fagin-O'Connor in
Victoria County, Texas.

The invoice was sent to the attention of Robert Lemax.

Before I attempt to call them to collect, I thought I would contact you to
see if there are any outstanding issues with Houston Hydrocarbons, such as an
impending deal, a bankruptcy, etc...  Let me know if you have any insight.

Thanks for your assistance.

Meredith Powers
3-9662


TJ.
I am sending you our contact information while Willis and I are in New York.

Mon thru Wed in Albany, New York

Marriot Hotel (Wolf Road) - 1-800-443-8952

Cell Number: 713-851-0951


Here is the information I sent to Karen Buckley on Kevin's preferences for the new analyst and associates starting in August.  Kevin's group has also identified several summer interns that they would be interested in as well.  I will forward the names of those indiduals to you as soon as possible.  Karen, please provide Louise and John with copies of the resumes Kevin's group selected for the summer interns.  Please feel free to contact me should you have additional questions.

 -----Original Message-----
From: 	Melodick, Kim
Sent:	Monday, April  23, 2001 1:45 PM
To:	Buckley, Karen
Subject:	analyst and associate picks for Presto

Here is the rank ordering of Presto 's  August AA picks:

Top 6

D. Dupre
M Taylor
W. IZ
S. Pan
A. Ahmed
E. Anderson

7-11

Z. Costello
A. Day
G. Giron
M. Marquez
S. Dicke

12-21

W. Freije
W. Gurrola
S. Hermani
D. Jenkins
T. Lindvall
T. Lowell
M. Philippov
R. Williams
S. Yaman
J. Young


yes,

-----Original Message-----
From: Davis, Dana [mailto:Dana.Davis@ENRON.com]
Sent: Wednesday, November 07, 2001 2:02 PM
To: Frank Telemaque
Subject: Hey are you there?

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

INSIST UPON GENUINE FLEXITALLIC GASKETS!
Anything else is just a copy.


I received an unofficial copy of the vote yesterday from CADE (the official
version has not yet been published) for the Atos de Concentrac?o.  Today we
received the final deliberation printed in the Diario Oficial concerning the
Medida Preventiva.  Below is a re-cap of the highlights of the two CADE cases
recently decided in favor of CEG AND CEG RIO:

Administrative Process (Medida Preventiva) for CEG RIO

This is the process in which several industrials brought a charge of abusive
pricing against CEG RIO and in which an administrative injunction was imposed
by the SDE to maintain CEG RIO's margin at the level existing at time of
privatization.  Vote was unanimous in our favor to permanently cease the
injunction with the Relator of the process reiterating:
-  the tariff system set out in the Concession Contracts differentiating
consumers by segment attends the requirements of an efficient regulatory
system and promotes social well-being
- the opening and full functioning of commercialization in the gas market
depends on the presence of various participants (in the upstream) and in the
development of (multiple) production sources and sophisticated logistics
- the adaptation of the Concession Contracts (renegotiation) concerning
commercialization depends on measures taken by the Conceding Power (the State
of Rio) at the appropriate phase of development of the market
- CEG RIO's pricing practices fall within the regulatory framework
requirements and therefore cannot be considered abusive conduct as they were
in strict accordance with the regulations which emanated from competent
organs and legitimate policy decisions

Appropriate actions (both legal and administrative) are now being taken to
collect the differences in tariff due pursuant to the above decision

Atos de Concentra??o for CEG and CEG RIO

This is the CADE review and approval process for mergers and acquisitions
which meet specific threshold requirements.  The SDE and CADE were using
these initial privatizations as a forum to restructure the gas distribution
industry.  The threat that existed was imposition of various requirements
that included breaking of exclusivity rights, structure for physical and
commercial bypass, legal and accounting separation of distribution and
commercialization, etc.  Such requirements, if imposed by the CADE would have
resulted in onerous changes to basic provisions in the Concession Contract.
Based on a strong legal and technical strategy and lobby both at the federal
and state levels, we achieved a unanimous decision in our favor (CEG and CEG
RIO) concluding:
- The State has the jurisdiction and autonomy to define privatization
modelling and regulatory framework
- The recommendations of the SDE may be implemented by the State or its
regulatory body when it considers the market ripe for such changes
- In the mid-term, after the term of exclusivity set out in the Concession
Contracts has expired, the regulatory body should turn its attention to
establishing clear rules for the distribution company to allow access to its
system
- CADE will be sending recommendations to the Brazilian Association of
Regulators (ABAR) to study and prepare accounting plans for the country's
distribution companies which separates distribution and commercialization
from an accounting standpoint only (no legal separation recommended)
- CADE will be sending recommendations to ABAR, CNPE and ANP to establish
participation limits for the distribution companies in regional markets with
a view to prevent excess horizontal control of distribution and
commercialization

Conclusion:  The decision met our objective of clearly establishing that the
granting State, not the CADE has the competence and jurisdiction to review
the Concession Contracts.  It reinforces the concept of the emerging market
in Brazil and the need for short term exclusivity in order to develop needed
infrastructure.  Additional note regarding the final CADE recommendation, it
is my opinion that any cross-ownership restrictions would have to emanate
from the promulgation of federal and state legislation (the former in cases
impacting transportation, the latter in cases impacting distribution), and
not from the organs indicated by CADE.

Please advise if you would like further details.

Regards,

Vicky

Randy Young
02/21/2001 08:28 PM
To: Orlando Puppin/SA/Enron@Enron, Vicky Martinez/SA/Enron@Enron, John
Novak/SA/Enron@Enron
cc: Rob Walls/ENRON@enronXgate

Subject: Re: CADE - CEG/CEG-RIO

Great job.  I look forward to the update.  ry

Orlando Puppin
02/21/2001 03:44 PM
To: Peter E Weidler/NA/Enron@Enron, Ricky Waddell/Enron Communications@Enron
Communications, Frank Stabler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Randy
Young/NA/Enron@Enron, Edward E Graham/SA/Enron@Enron, Paula
Porto/SA/Enron@Enron
cc:

Subject: CADE - CEG/CEG-RIO

Gente:
We won the batle. Now no more problems with Cade. It was 6 x 0 in favour of
Cegs or its shareholders.
Details to follow tomorrow.


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

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o Great Gift Ideas

HOLIDAY RECIPES

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STRESS RELIEVER OF THE DAY

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==========

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

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Sorry, I have a meeting today, then going out of town for the rest of the
week.  I'll have to do it next week.


Hi Theresa,

We're under A TON of pressure this month to get our money in the door on time and as close to invoice amount as possible. I want to make sure these people have absolutely no reason to pay us late. As soon as you have the spreadsheet done, please email it to me so I can tie it to the system. Thanks for your help!!!

Valerie Vela
Specialist, Gas Settlements
Enron Net Works LLC
t: 713.345.8749
f: 713.646.8420


As you know, the U.S. government is investigating hundreds, if not thousands, of relatives, acquaintances and associates of the individuals who may have been involved in the terrorist attacks on Sept. 11.  We believe that the media will soon be reporting that one of the many individuals being questioned is an Enron employee in Houston.  It is appropriate for us to withhold judgment and to continue to cooperate fully with federal authorities.  Because this is a matter in the hands of the federal authorities, we cannot provide additional information at this time.   However, we will keep you informed, to the greatest extent possible.

Please keep in mind that thousands of people who may or may not have any information about the terrorist attacks are being questioned as part of this investigation.  We continue to have every reason to believe that our employees and facilities are safe.  If you have concerns, please call Corporate Security at (713) 345-2804.  If you receive any media or external inquiries about this matter, please call Public Relations at (713) 853-5670.

At Enron, diversity is one of our strengths, and we respect and embrace all people of all faiths and beliefs.  Please continue to keep our employees who have been impacted by this tragedy in your thoughts and prayers.


---------------------- Forwarded by Nicholas O'Day/AP/Enron on 08/28/2000
12:48 PM ---------------------------

Nicholas O'Day
08/28/2000 12:28 PM
To: Steven J Kean/HOU/EES@EES
cc: Joseph P Hirl/AP/ENRON

Subject: Ken Lay meeting with Japanese Prime Minister

Steve,

Over the last month the Japanese regulators and Government have come to the
realization that the electricity deregulation initiatives implemented in
March of this year have not stimulated competition in the manner in which
they had expected. MITI and the Government are currently examining why the
initiatives implemented in March are falling short of expectations and
looking to move the 2003 review forward to next year. There are currently two
multi party committees looking at the energy sector. The ruling Liberal
Democratic Party also has one committee looking at energy. In addition, MITI
is in the process of forming a new advisory group comprising academics to
consider the next stage of deregulation.

As you are aware, we have been working the regulatory aspects through MITI
and the US Government for some time now with a degree of success - in fact,
the majority of our 12 month goals have been achieved. Recently, with the
addition of Kimura, we have increased our level of contact with senior
political figures in Japan.

Both MITI and the USG continue to seek Enron's views on issues relating to
the current deregulation process and the way Enron wants to see electricity
deregulation. We have recently addressed the parliamentary Deregulation
Committee which reports to the Prime Minister and regularly provide
educational presentations to MITI on issues relevant to deregulation.
Further, senior political figures are now recognizing that Enron can assist
in the deregulation process in a positive way.

What we appear to have in Japan in the electricity sector is a reasonably
clean slate and the opportunity to have a major say in how things should be
structured in the future.

Ken Lay's links with the Republican Presidential campaign has received media
attention in Japan and it is believed in Government circles here that he will
receive a cabinet position if Gov. Bush is elected. As a result, Mr Lay
currently carries a great deal of weight in senior Government circles in
Japan. In the period prior to the Presidential election, we have an ideal
opportunity to get our message across at the highest levels of the Japanese
Government through Mr Lay.

A meeting between Mr Lay and Prime Minister and other senior Government
members would significantly increase Enron's profile in Japan and assist in
conveying our vision for the next phase of deregulation.

If Mr Lay were to visit Japan, possibly in late October or early November, we
would also look at coordinating the Tokyo office opening with the visit and
arrange a number of high level commercial meetings. Prime Minister Mori and
the US Ambassador have already expressed an interest in attending the office
opening.

Both Joe Hirl and I would like to speak with you further about the above.
When would be a convenient time?

kind regards


Join the MIT Forum - www.mitforumtexas.org  on  Monday.
Jim


Hi Marie,

As I referenced in my earlier e mail, I am in the process of reviewing the
AHC-Enron originals.  However, I noticed that I have not yet received a
faxed set of Authorizations from Enron for this ISDA.  As referenced in your
cover letter, could you fax these to me at your earliest convenience?  If
acceptable, you can than forward a set through the mail.

Thanks so much,

Dana M. Dellacona, Esq.
1185 Avenue of the Americas
NY, NY 10036
Ph:212.536.8133
Fx:917.342.8810
ddellacona@hess.com

		-----Original Message-----
		From:	Heard, Marie [mailto:Marie.Heard@ENRON.com]
		Sent:	Wednesday, November 14, 2001 2:24 PM
		To:	ddellacona@Hess.com
		Cc:	Sayre, Frank
		Subject:	ISDA Master Agreement

		 << File: enron-ahc schedule-execution copy.11-14.doc >> <<
File: enron-ahc credit support annex-execution copy1.11-14.doc >> Attached,
for your review, are final execution copies of the Schedule to
		the ISDA Master Agreement, together with Paragraph 13 to the
ISDA Credit
		Support Annex.  Please note that Part 5(j) of the Schedule
was changed
		pursuant to your discussion with Frank Sayre.

		Marie Heard
		Senior Legal Specialist
		Enron North America Corp.
		Phone:  (713) 853-3907
		Fax:  (713) 646-3490
		marie.heard@enron.com

						 <<enron-ahc
schedule-execution
		copy.11-14.doc>> 	 <<enron-ahc credit support
annex-execution
		copy1.11-14.doc>>

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

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


FYI - I made my staff burn the midnight oil last night putting together TW/NNG revenue summaries for review by the bankers that Rod/Kevin are working with.  Thought you might me interested in the report.  It gives a nice snapshot of our activity with our major counterparties.

 -----Original Message-----
From: 	Corman, Shelley
Sent:	Thursday, October 25, 2001 11:05 AM
To:	Hayslett, Rod
Cc:	Geaccone, Tracy
Subject:	TW Revenues by Counterparty
Importance:	High

First worksheet show summary gross transportation revenue by counterparty for the 12 months ended 9/30/01. Total transport revenue is $180.6 million.  Other worksheets show detail by contract and contract expiration dates.  This information has been furnished to Kevin Howard.  The only open question is how this data can be reconciled to financials.  I spoke with Tracy this morning and she reflects gross operating revenues for TW for this period of $200 M.  The difference is primarily fuel sales (which are not currently included in my numbers).


---------------------- Forwarded by Don Miller/HOU/ECT on 11/16/2000 11:52 AM
---------------------------

"Leitz, Thomas" <ThomasLeitz@ICFConsulting.com> on 08/31/2000 10:08:25 AM
To: "'Don Miller'" <Don.Miller@enron.com>
cc: "Mukherjee, Gautam" <GautamMukherjee@ICFConsulting.com>, "Fusco, Maria"
<MariaFusco@ICFConsulting.com>
Subject: RE:

Thomas Leitz
ICF Consulting
Wholesale Power Group
9300 Lee Highway
Fairfax, VA 22031-1207
tleitz@icfconsulting.com
Voice: 703-934-3271
Facsimile: 703-934-3968

Don,

We have incorporated the changes you requested into this latest version of
the Market Overview.  Let us know if you have any questions/comments.

Sincerely yours,

Tom Leitz

 <<YAG1127b.doc>>

 - YAG1127b.doc


Hey gang-
Just back from the doctors and he said "do not go riding this weekend".
I am terribly disappointed but it wouldn't be wise. I don't have any
broken bones and it doesn't appear that I have a herniated disk--at this
point just a lumbar strain but he is afraid it will get worse if I ride.
I am sorry for the inconvenience and I will send Lari a separate email.
I hope the trip is wonderful. Please share the details.
Madeleine

-----Original Message-----
From: Amy Gustafson Finch [mailto:afinch@iasco.com]
Sent: Monday, September 17, 2001 2:41 PM
To: 'Dasovich, Jeff'; 'Scatena, Pat'; Madeleine Todd;
mcgee.nora@epamail.epa.gov; jeff_walker@i2.com; cwfinch@pacbell.net;
'Luis Pine (E-mail)'
Subject: RE: Mendocino Ride

Hi all,

Sorry that some of you won't be making it to Mendocino.  I talked to
Lari's
assistant Cynthia and they are not planning to exact cancellation
charges.
Cal and I are still planning an all-day ride on Saturday, and Pat and
Nora
will be joining us on Sunday for a four-hour beach ride.  Would love for
any
of you who are "on the fence" to join us for both days.  The Ranch would
like to know by Wednesday if possible.

Amy

-----Original Message-----
From: Dasovich, Jeff [mailto:Jeff.Dasovich@ENRON.com]
Sent: Monday, September 17, 2001 8:16 AM
To: Scatena, Pat; Madeleine Todd; afinch@iasco.com;
mcgee.nora@epamail.epa.gov; jeff_walker@i2.com; cwfinch@pacbell.net;
Luis Pine (E-mail)
Subject: RE: Mendocino Ride

Dear folks:
Hope all finds you well, given the circumstances.  I would very much
like to go, but I continue to be embroiled in the energy mess and school
has started (last year!).  Turns out I'm going to have to be in Southern
California that Friday and part of Saturday for work.  I'm going to have
to cancel.  If there are any charges, please let me know.  Hope to see
all of you very soon.  Be safe.

Best,
Jeff

-----Original Message-----
From: Scatena, Pat [mailto:pat.scatena@intel.com]
Sent: Monday, September 17, 2001 10:03 AM
To: 'Madeleine Todd'; afinch@iasco.com; mcgee.nora@epamail.epa.gov;
jeff_walker@i2.com; Dasovich, Jeff; cwfinch@pacbell.net; Luis Pine
(E-mail)
Subject: RE: Mendocino Ride

that's really too bad, i hope you are still able to make it.  I am still
planning to go, but will definitely be riding only on Sunday and might
drive
up on Saturday instead of on Friday.  Lu, I'll call you after I talk to
Jeff
to confirm whether he's still going.
p

-----Original Message-----
From: Madeleine Todd [mailto:Madeleine@madeleinetodd.com]
Sent: Saturday, September 15, 2001 6:50 PM
To: afinch@iasco.com; Scatena, Pat; mcgee.nora@epamail.epa.gov;
jeff_walker@i2.com; jeff.dasovich@enron.com; cwfinch@pacbell.net; Luis
Pine (E-mail)
Subject: RE: Mendocino Ride

Hey guys--
It is my hope that you and your loved ones have not been directly
affected in the tragedy.

I assume that the trip to Mendocino is still going forward. I am not
happy to report that my lower back has gotten worse and not better since
the accident in Hawaii. Sadly, I may have to pass on Mendocino. I will
find out more this upcoming week and let you know.

If I do have to cancel I would assume we should keep the Grandma's room
for Jeff & Lu. If there are any potential cancellation charges I should
pay to Lari please let me know. I have been looking forward to this for
so long, I am sad to think of not joining all of you.

I will get back to you by Wednesday.

Madeleine

-----Original Message-----
From: Amy Gustafson Finch [mailto:afinch@iasco.com]
Sent: Monday, August 27, 2001 12:05 PM
To: 'Scatena, Pat'; Madeleine Todd; mcgee.nora@epamail.epa.gov;
jeff_walker@i2.com; jeff.dasovich@enron.com; cwfinch@pacbell.net
Subject: RE: Mendocino Ride

Hi Group,

Need input for Lari as our ride approaches (Pat can you forward to Lu
and
ask him to reply to me).

I know some of you have ridden with Lari many times, but her scheduler
is
facilitating this process and has asked for some information.  Please
provide the following and I will batch and send to Lari:

Years riding
How often currently riding
type of riding (i.e. English lessons, dressage, trail)
type of saddle preferred
age, height and weight

Also, we initially planned on an all-day ride on Sat, and a four-hour
ride
on Sunday so we could all head back relatively early.  Lari would like
to
know where we want to ride on each day.  Nora is only riding for the
four-hour ride, and prefers the beach.  How about an all-day ride in the
redwoods on Saturday, with a four-hour beach ride on Sunday?

Amy

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