USA: Enron shares in stay in doldrums after downgrade.
Reuters English News Service, 10/29/01
USA: US companies' credit quality to worsen-Moody's.
Reuters English News Service, 10/29/01

Enron's Lenders to Demand Harsher Terms, Analysts Say (Update1)
Bloomberg, 10/29/01

USA: Enron shares drop despite further triage attempts.
Reuters English News Service, 10/29/01

USA: Enron says in talks with banks for new credit line.
Reuters English News Service, 10/29/01
USA: UPDATE 1-Enron says in talks with banks for new credit line.
Reuters English News Service, 10/29/01
POWER POINTS:Enron May Have To Rethink Asset-Light Focus
Dow Jones Energy Service, 10/29/01
OFFICIAL CORRECTION Enron long-term ratings downgraded to Baa2 - Moody's
AFX News, 10/29/01
USA: Moody's cuts Enron to 2 notches above "junk".
Reuters English News Service, 10/29/01
UK: Europe energy firms wary of Enron on credit worries.
Reuters English News Service, 10/29/01
BANDWIDTH BEAT: Enron Puts Spotlight Back On Broadband
Dow Jones Energy Service, 10/29/01

USA: Enron shares in stay in doldrums after downgrade.

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 29 (Reuters) - Enron Corp.'s share price hovered above seven-year lows touched in earlier trade Monday after Moody's Investor Service cut the credit status of its senior unsecured debt of North America's largest energy trader to two ratings above junk status.
Enron, the largest electricity and natural gas trader in North America, also on Monday said it was in talks with banks to expand its credit lines to ease financial concerns that have sent its stock slumping more than 50 percent in the past two weeks.
Enron shares were down $1.40, or 9.03 percent, to $14.10 on the New York Stock Exchange, after earlier in the session trading below $14 for the first time since December 1994.
Moody's also warned that it could cut the debt rating again, now downgraded to Baa2, as well as its rating for the Enron's commercial paper.
Enron's credit-worthiness will have a direct affect on its day-to-day trading operations and its trading partners' perception of making good on trades. With a credit rating hovering above junk status, the cost of doing business will soar as trading partners look for increased collateral to back trades.
Last week Enron shares lost almost $14 billion in market value as a series of piecemeal disclosures about the company's involvement in complex partnerships began to trickle out.
Investors have fled Enron's stock in droves following disclosures that the company did off-the-balance sheet transactions with two limited partnerships run by former chief financial officer Andrew Fastow in deals the U.S. Securities and Exchange Commission is now looking into for possible conflict of interest.
Enron compensated its partners in this off-balance sheet structure with the promise of Enron shares, if the value of private investments in several of its units fell below a certain level.
Many industry observers see Enron's request for additional credit, after the company tapped its banks for $3.3 billion last week, as a sign a weakness.
"We are not of the opinion that drawing down all of one's backup bank lines is a demonstration of financial strength, but instead ... it's an act of desperation," said Carol Levenson, an analyst with independent research firm gimmecredit.com.

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

USA: US companies' credit quality to worsen-Moody's.
By Jonathan Stempel

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 29 (Reuters) - U.S. corporate credit quality is likely to grow much worse before it gets better, a leading credit rating agency said in a report issued on Monday.
Moody's Investors Service said that in the third quarter, it put on review for downgrade its credit ratings for 122 U.S. companies. At the same time, it put on review for upgrade its ratings for just 22 companies.
That 5.5-to-1 ratio is far greater than the 1.3-to-1 ratio in the second quarter.
In dollar terms, the situation looks more dire. Moody's warned it may downgrade $543 billion of debt, dwarfing the $66 billion Moody's said it may upgrade by 8.2-to-1.
"Particularly in light of September 11, the fourth quarter will be particularly weak for credit rating changes," said John Puchalla, Moody's senior economist. "A wide excess of rating reviews for downgrade over upgrades in the third quarter suggests credit deterioration will persist at least into early next year."
Rating reviews are significant because, unlike actual rating changes, they are not a "lagging" indicator, and suggest the future direction of corporate credit. Moody's normally wraps up its reviews within three months.
U.S. corporate credit quality is falling for many reasons. These include the weakening U.S. economy, an inability of marginal companies to raise cash, debt-financed merger activity and fallout from the Sept. 11 attacks on such industries as airlines, insurance, and travel.
For example, Moody's in July warned it may cut Comcast Corp.'s ratings after the Philadelphia-based company bid $44.5 billion for AT&T Corp.'s cable TV operations.
Then last month, Moody's warned it may cut Chicago-based Boeing Co.'s ratings because of the attacks' potential impact on demand for commercial airplanes.
In the third quarter, Moody's warned it may cut its ratings of 54 speculative-grade, or "junk"-rated, companies, and raise the ratings of just 11. For investment-grade companies, the gap was even more yawning: 68-to-11.
And in the fourth quarter? Through Friday, Moody's warned it may downgrade 47 companies and raise a mere four. On Monday, it downgraded embattled energy trading giant Enron Corp., and put all of its ratings on review for another downgrade.
Puchalla, however, said the decline could slow next year, in part because interest rates are low and companies are managing their balance sheets more conservatively.
"Lower borrowing costs and slowing debt growth should reduce debt servicing costs, and fiscal stimulus from the federal government should boost business revenues," he said. "That is a positive for credit quality."
The third quarter was the 14th in a row when corporate rating downgrades outpaced upgrades. The record is 19 quarters, set between 1988 and 1993.

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

Enron's Lenders to Demand Harsher Terms, Analysts Say (Update1)
2001-10-29 12:16 (New York)

Enron's Lenders to Demand Harsher Terms, Analysts Say (Update1)

     (Updates with analyst comment in fifth paragraph.)

     Houston, Oct. 29 (Bloomberg) -- Enron Corp., which can't get
low-interest, short-term loans, faces skeptical lenders who will
demand increasingly harsher terms as the largest energy trader
tries to get cash in the bank, credit analysts said.

     ``Anyone providing new funding is going to be nervous,'' said
Sean Egan, managing director at Egan-Jones Ratings Co. ``It's
likely that lenders are going to demand collateral.''

     Enron is trying to get $1 billion to $2 billion in loans from
Citigroup Inc., J.P. Morgan Chase & Co. and other banks to calm
investors after a 52 percent drop in the company's stock since
Oct. 17, the Wall Street Journal reported. The company needs cash
every day to settle commodities transactions and to keep trading
partners.

     The company on Thursday tapped $3.3 billion in bank credit
lines last week to pay off about $2 billion in commercial paper,
or short-term corporate loans. A week ago, the Enron said the U.S.
Securities and Exchange Commission had began an inquiry into
related-party transactions. They cost the company $35 million and
$1.2 billion in lost shareholder equity.

     ``Banks are in the driver's seat, and Enron is a little
desperate,'' said Peter Petas, a debt analyst at CreditSights Inc.
``I think their interest rates for loans would go up.''

                       Sells Assets for Cash

     Companies in Enron's situation often agree to other bank
terms in order to secure loans, Petas said. Those can include
agreeing to use proceeds from selling assets to pay debt and
putting up assets as collateral.

     Enron is attempting to sell assets to raise cash. Two related
partnerships, Osprey and Marlin, depend on selling power plants
and similar assets to repay $3.3 billion borrowed to buy the
plants. Enron may have to pay any difference between the debt and
sales proceeds.

     The company plans to complete the $2.9 billion sale of
Portland General Electric, an Oregon utility, to Northwest Natural
Gas Co. next year.

     Shares of Houston-based Enron fell $1.30, or 8.4 percent, to
$14.10 in midday trading. Earlier, they touched $13.55, down 12
percent. The company's credit rating was cut by Moody's Investors
Service after it wrote down the value of its assets.

     The stock had tumbled 80 percent in the past 12 months.

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

USA: Enron shares drop despite further triage attempts.

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 29 (Reuters) - Enron shares slipped to a new six-year low in early trade as North America's largest natural gas and electricity trader said it was talking to banks about tapping additional credit lines to ease financial concerns that have sent its stock slumping more than 50 percent in the past two weeks.
Enron's shares were trading down 90 cents, or 5.8 percent, to $14.60 in early morning trade on the New York Stock Exchange. Shares crashed through $15, a low not seen since February 1995.
Last week, Enron shed almost $14 billion in market value as its stock price tumbled more than half since last week, when a series of piecemeal disclosures about its involvement in complex partnerships began to trickle out.
However, many industry observers see Enron's request for an additional credit after tapping its banks for $3.3 billion last week after as a sign a weakness not of strength.
"We are not of the opinion that drawing down all of one's backup bank lines is a demonstration of financial strength, but instead ... it's an act of desperation," said Carole Levenson, research analyst with independent research firm gimmecredit.com.

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

USA: Enron says in talks with banks for new credit line.

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 29 (Reuters) - Energy trading giant Enron Corp. said on Monday it is in talks with banks for additional credit, in a move to shore up investor confidence.
Enron declined to comment on the size of the credit line, which banks it is in talks with and when it expects to complete an agreement on a new credit line.
"We want to restore investor and market confidence and nothing instills confidence like cash," said Enron spokesman Mark Palmer.
The Wall Street Journal reported Monday the beleaguered energy trader is negotiation with bank for a new credit line of between $1 billion to $2 billion to prop up share prices following last week's selling that sent shares plummeting.
Enron said it drew about $3 billion in new credit lines last week, and has a net cash liquid position in excess of $1 billion.
Enron shares sank 50 cents, or 3.2 percent, to $15 in early morning trade on the New York Stock Exchange. ((David Howard Sinkman, New York Newsdesk 646-223-6094)).

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

USA: UPDATE 1-Enron says in talks with banks for new credit line.

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 29 (Reuters) - Energy trading giant Enron Corp. said on Monday it is in talks with banks for additional credit, in a new move to shore up investor confidence after it tapped about $3 billion in credit last week, and to stop a plunge in the company's stock that set new six-year lows.
Enron declined to comment on the size of the credit line, which banks it is in talks with and when it expects to complete an agreement on the new credit line.
Enron shares crashed through a psychological barrier of $15 a share, shedding $1.66, or 10.65 percent, to $13.85 in early morning trade on the New York Stock Exchange. The stock has lost more than half of its value in the past two weeks, losing more than $14 billion in market capitalization.
"We want to restore investor and market confidence and nothing instills confidence like cash," said Enron spokesman Mark Palmer in Houston.
Enron shares have tumbled since the company reported its first-quarterly loss in more than four years on Oct. 16. The company also wrote down $1.2 billion in equity, including transactions with partnerships formerly run by its chief financial officer who was forced to step down from Enron last week.
The sell-off was sparked by investor concern about the transparency of the transactions, which the Securities and Exchange Commission is examining. Enron last week replaced CFO Andrew Fastow as part of efforts to restore investor confidence.
The Wall Street Journal reported Monday the beleaguered energy trader is negotiation with bank for a new credit line of between $1 billion to $2 billion to prop up share prices following last week's selling that sent shares plummeting.
Enron said it drew about $3 billion in new credit lines last week, and has a net cash liquid position in excess of $1 billion.
"Clearly, both the stock and bond market view Enron as being in dire straits," said independent research firm Gimme Credit analyst Carol Levenson.
"We are not of the opinion that drawing down all of one's backup bank lines is a demonstration of financial strength, but instead it's an act of desperation."

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

POWER POINTS:Enron May Have To Rethink Asset-Light Focus
By Mark Golden

10/29/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

A Dow Jones Newswires Column

NEW YORK -(Dow Jones)- On the face of things, it's hard to understand the stock market's headspinning reaction to Enron Corp.'s (ENE) revelation of some bad news in recent weeks.
Why the talk of a "death spiral" for North America's premier energy trading company? The stock price of Cisco Systems Inc. (CSCO), for example, saw an almost identical drop over a similar 12-month period. Nobody questioned the viability of Cisco.
The difference is that over the past few years, Enron has redefined itself as a company that runs on financial and intellectual muscle - not hard assets - and that focus is getting the company into trouble now that its credibility is in question.
If you're buying network components, you can probably stand some ambiguity in the finances of your supplier. After all, you're buying something you can touch. But if you're buying power or gas, what you're really buying is a commitment to deliver. If your supplier doesn't come through when the market gets tough, you're left totally exposed. In Enron's energy trading business, then, credibility at every level is critical.
For now, Enron looks to be more than viable. But the company's asset-light strategy might not be. Gross profits from trading have shrunk to 1.65% in the third quarter from 5.26% in the first quarter of 1998. Meanwhile, asset-heavy energy companies like Mirant Corp. (MIR) and Calpine Corp. (CPN) successfully use trading to optimize the performance of power plants and other infrastructure.
Two weeks ago, Enron reported a $618 million third-quarter loss, resulting from $1.01 billion in write-offs. That didn't send investors running, however. In fact, its stock price rose a bit on the news.
What hurt was the disclosure that Enron had reduced its net assets, or "shareholders' equity," by $1.2 billion as a consequence of unwinding positions in partnerships headed by former Chief Financial Officer Andrew Fastow. That, along with warnings of possible downgrades by credit ratings agencies and an inquiry by the Securities & Exchange Commission produced a $15.6 billion drop in Enron's market value.
On Monday, Moody's Investors Service followed through by downgrading its rating on Enron's senior, unsecured long-term debt to Baa2 from Baa1, leaving it two steps above junk-bond levels. The agency kept Enron's ratings on watch for further downgrade.
Long-Running Concerns

A 50% hit to shareholder value still seems like an overreaction to a 10% reduction in shareholders' equity. The stock price reflects the expectation of additional losses to be reported and Enron's loss of credibility. Enron executives in a conference call Tuesday insisted that the worst was behind them, but few on the call believed that.
For some analysts, Enron's revelations only fed long-running concerns about the company's lack of financial disclosure.
Cary Wasden, managing partner of Reed Wasden Research, has had a "sell" recommendation on Enron since March. Unlike the analysts at big Wall Street firms, Wasden isn't in the business of selling stock. His firm isn't involved in brokerage and isn't a hedge fund. Wasden gets paid for his research, and the company doesn't invest in the securities it covers.
A main Wasden concern with Enron is that the company has regularly included the proceeds from one-time sale of physical assets in operating income. His belief is that Enron has dramatically inflated its earnings for the past couple of years - a concern to which an Enron spokeswoman couldn't immediately respond.
"Don't believe by any means this is the end of the story," Wasden said.
Wall Street sell-side analysts have largely kept Enron as a "buy" or "strong buy" as the stock fell from $90 to $20. But even they are expressing concerns about the quality of Enron's reporting.
For now, the plunge in the price of Enron's shares and bonds, which last week started trading like junk-rated debt, hasn't hurt its credit standing with energy trading partners.
"We haven't changed our thinking regarding Enron or our policies and practices. We're watching it, and so is everybody else, but they are a solid company," Reliant Energy Inc. (REI) spokesman Richard Wheatley said in a typical reaction. "This is unfortunately a feeding frenzy regarding some dealings that I'm sure Enron will be able to come out of at some point."
Keeping Talent A Challenge

Enron is a big company - far too big to ignore. But continued deterioration in the price of its shares and bonds could lead counterparties to restrict their traders' transactions with Enron. If the company's investment-grade bonds continue to trade near levels traditionally considered distressed, risk managers won't be able to ignore it, whatever else Moody's does.
Assuming that doesn't happen, Enron still faces a tough road ahead. Like all companies, Enron is the combination of capital and talent. For financial companies, talent is the more important ingredient, and Enron has been suffering damage to its talent for some time.
New Chief Executive Jeff Skilling left in August, and a handful of his key lieutenants left earlier in the year. The losses can be expected to continue. Much of the top management cashed out when the company's stock price was high and moved on. Now middle management on down is angry and anxious to move on, if they haven't already.
Over the years, Enron has compensated its very talented labor with stock options to make up for base pay considered low by the industry. Those options are now nearly worthless. If Enron's debt-service costs rise, the company could struggle to attract the talent needed to generate income in its core business of trading energy in North America.
Some analysts would like to see more turnover at the very top. When Skilling left, nobody believed Skilling or Chairman Kenneth Lay's assurances that it was for "personal reasons." When CFO Fastow was forced out of his position last week, Lay said, "In my continued discussions with the financial community, it became clear to me that restoring investor confidence would require us to replace Andy as CFO."
That's putting words in Wall Street analysts' mouths. Who thought scapegoating Fastow was really the answer?
"I don't know anybody who said that," Wasden said. "What did the CFO do, what did Skilling do, that Ken Lay wasn't part of?"
Real change will have to come from without, Wasden said.
"Enron has been a cult, more than a company," he said. "Recruiting from within does nothing to change the company, it just changes the disciples. Enron needs to pull some top talent from outside."
Nevertheless, Wasden thinks Enron's stock has reached its natural floor and, if the company starts disclosing how it really makes money, it can recover over time.
"There are a lot of earnings that can be wrung out of really strong operating assets, like pipelines and power plants," he said.
That means paying more attention to the assets that Enron has spent the past few years denigrating. Given the bind Enron is in, Lay won't have much choice. Enron will survive, but it won't be the same company at all.
-By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com

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

OFFICIAL CORRECTION Enron long-term ratings downgraded to Baa2 - Moody's

10/29/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

(Moody's corrected its stance on Enron ratings to a downgrade)
NEW YORK (AFX) - Moody's Investors Service said it has lowered the senior unsecured long-term debt ratings of Enron Corp from Baa1 to Baa2 following a deterioration in Enron's financial flexibility since the company announced significant writedowns as well as equity charges in previously undisclosed partnership investments.
The long-term debt ratings remain on review for further downgrade, Moody's said.
Moody's also placed the company's Prime-2 rating for commercial paper on review for downgrade.
Moody's initially placed Enron's long-term debt ratings on review on Oct 16. The write-downs and equity charges led to a substantial loss in investor confidence that has led to a more than halving of Enron's share price and difficulties in rolling over commercial paper, according to Moody's.
In response to these events, Moody's said Enron has shored up its near-term liquidity position by drawing down on all of its committed revolving credit facilities and buying back its outstanding commercial paper, leaving the company with a net cash position of approximately 1.2 bln usd.
Moody's said it plans to focus on management's success in lining up further liquidity support and on their ability to retain credit availability from their major counterparties.
aw/gc For more information and to contact AFX: www.afxnews.com and www.afxpress.com

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

USA: Moody's cuts Enron to 2 notches above "junk".

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 29 (Reuters) - Moody's Investors Service on Monday cut embattled energy trading giant Enron Corp.'s senior unsecured debt rating to two notches above junk status, and warned it may cut that rating again, as well as its rating for Enron's commercial paper.
The rating agency cut Houston-based Enron's senior unsecured debt to "Baa2" from "Baa1," and said it may cut Enron's "Prime-2" commercial paper rating, which affects short-term debt. Its rating actions affect $13 billion.
Moody's said Enron is suffering from deteriorating financial flexibility since it announced big write-downs and equity charges from previously undisclosed partnership investments this month. This triggered "difficulties in rolling over commercial paper," Moody's said.
Enron, which has about $63.4 billion in energy assets, said on Monday it is talking with banks to get more credit, after last week drawing down $3 billion from a bank credit line to buy back its outstanding commercial paper.
Its shares traded Monday on the New York Stock Exchange at $13.75, down $1.75, or 11.3 percent. They have fallen 62 percent since Oct. 12, from $35.81.
Rating agency, Standard & Poor's, on Thursday revised its outlook for Enron's ratings to "negative" from "stable."

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

UK: Europe energy firms wary of Enron on credit worries.
By Stuart Penson

10/29/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, Oct 29 (Reuters) - Energy companies in Europe are shying away from trading with troubled U.S. energy group Enron amid concerns about the company's credit status, industry sources said on Monday.
Several large energy groups have frozen their dealings with Enron - one of Europe's biggest gas and power traders - as they hold urgent talks with the U.S. group about setting up new credit arrangements, the sources said.
"I think Enron's approach is to get the major counterparties back on board as quickly as possible and then hope the smaller ones will follow," said the head of risk management at one UK utility that halted its trade with Enron last week.
"They are talking with us about bank letters of credit," he said. "The people that are still trading with them are doing so on a very restrictive basis."
A spokesman for Enron's European headquarters in London headquarters declined to comment.
Reluctance to trade with Enron in Europe comes as the company tries to rebuild investor confidence after its stock hit five-year lows.
Triggering the slide was news last week the U.S. Securities and Exchange Commission is investigating huge losses relating to a private equity operation run by its former chief financial officer.
Houston-based Enron trades a large amount of its volume in the U.S. and Europe through its Internet EnronOnline system.
Last Friday the company said trade on EnronOnline was above average levels with more than 8,400 transactions at a notional value of approximately $4 billion.
Traders said Enron's plight could hit liquidity in European gas and power markets, where liberalisation has unleashed rapid growth in energy trading in the last couple of years.
One industry source cited a brokers list showing eight companies in the UK electricity market had put on hold their trading Enron, which is among the biggest five traders in the market.
In mainland Europe, where Enron has been a major driver of liquidity, potential counterparties are treading with care.
"We are avoiding them as counterparties - either by not trading with them or by using a 'sleeve' (a third party trader)," said a senior trader at one of Germany's big utilities, who declined to be named.
French traders said wariness about dealing with Enron had dampened liquidity although Enron was still in the market on Monday morning.
"Enron is a major player so counter parties are looking to see if there is a problem," said one French trader.

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

BANDWIDTH BEAT: Enron Puts Spotlight Back On Broadband
By Michael Rieke

10/29/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

A Dow Jones Newswires Column

HOUSTON -(Dow Jones)- Thanks to Enron Corp. (ENE), the broadband sector again looks like a place to make money.
But it won't be traders who will cash in on this new potential. It will be class-action attorneys. They're already lining up to sue Enron in at least five shareholder suits.
As of Oct. 25, two of lawsuits had been filed against Enron in federal court and three more in Texas state court. Most of them name as defendants Ken Lay, Enron's longtime chairman, former Chief Executive Jeff Skilling and Andrew Fastow, Enron's chief financial officer until he was put on leave of absence Oct. 25.
Still another suit, which isn't a class action suit, was filed naming as defendants members of Enron's board of directors.
All the lawsuits concentrate on private investment partnerships Enron set up, many of them managed by Fastow. Most of the suits contend that it was a conflict of interest to have the Fastow partnerships doing complicated hedging transactions with Enron.
The transactions named in the lawsuits involved billions of dollars of underperforming assets in broadband, water and other Enron investments.
Fastow operated on both sides of some of those transactions. As Enron's chief financial officer, he was being paid to manage the corporation's finances. As general partner of two LJM partnerships, he managed the counterparties to billions of dollars of trades with Enron. He shared in profits of those partnerships.
When investors began demanding information about the transactions, Enron's share price began to slide. With the heat on, Enron recently unwound the trades with the partnerships and booked $544 million related to losses from early termination of the deals, among other things.
That's when the class action attorneys went to work. So far, at least 14 law firms are representing the plaintiffs. Enron didn't respond to calls asking about the lawsuits.
Among the law firms representing plaintiffs is Milberg Weiss Bershad Hynes & Lerach, which put out a news release announcing its lawsuit. The release points out that the firm has been responsible for recovering more than $30 billion from class action lawsuits.
The lawsuits bring up questions about the bandwidth trading market. Some of the deals with the LJM partnerships run by Fastow "purportedly involved hedging transactions in the broadband market," according to Abrams and Franks v. Enron et al.
That could tie into questions that have lingered in the bandwidth market for months. Market skeptics have said Enron and other energy companies are the only ones trading bandwidth.
Enron has reported that it has been trading with a growing number of counterparties, a total of 120 in the second quarter of this year, according to Enron.
Now market watchers will want to know if any of Enron's trades were done with the LJM partnerships managed by Fastow.
They will also want to know how many bandwidth trades were done with Chewco Investments. That Houston company, according to a report in The Wall Street Journal, was managed by Michael Kopper and was set up in 1997 when Kopper was a managing director with Enron's Global Equity Markets Group. He left Enron earlier this year to work for partnerships run by Fastow.
Do the plaintiffs' attorneys know whether Enron was trading bandwidth with any of those investment partnerships?
"I think if is too early to tell," Thomas Bilek of Hoeffner & Bilek told Bandwidth Beat. "As you know, (information) is coming out in drabs and dribbles from Enron."
It could be several months before plaintiffs' attorneys get a chance to ask Enron officials those questions, Bilek said.
It's also too early to tell what potential damages plaintiffs could win, said Steven Schulman, an attorney with Milberg Weiss. "At this point, you can only talk about it in terms of (shareholder) losses, and the losses are in the billions."
Total losses will depend on the price each shareholder plaintiff paid for the stock and the price at which each shareholder later sold the stock.
Enron's share price topped out between $90 and $91 in the summer of last year. It set a 52-week low Oct. 26 at $15.04. That spread leaves plenty of room for losses.
Schulman told Bandwidth Beat that the record for losses in shareholder cases is $11 billion in a case involving Cendant Corp. (CD). Damages are usually a substantial portion of losses, Schulman said.
"Whether (the Enron case) is bigger or less, I couldn't opine," he said. "This is a big case, by any means."
-By Michael Rieke, Dow Jones Newswires; 713-547-9207; michael.rieke@dowjones.com

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


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Z0 to Kinder k#2891	$.1421
Z0 to Tewksbury (Z6) k#2891  $.35

Texas Gas - discounts apply from 26th-30th.
SL Pool to Mamou k# T001886   $.0421


It has been a pleasure work with you all.

Wish you all the Very Best.

Bernard Dahanayake
Financial Settlements.
281-461-9452 T'phone ( Home)
hdahanayake@houston.rr.com


-----Original Appointment-----
From: 	Koh, Wendy
Sent:	Friday, October 05, 2001 4:25 PM
To:	Koh, Wendy; Holmes, Bradley; Medeles, Gerry; Studebaker, James ; Coon, Galen; Cooper, Tim; Elizondo, Rudolph; Lokey, Teb; Cady, Rachel; Hanagriff, Richard; Donoho, Lindy; Trevino, Linda; Berger, Larry; Bianchi, Rita; Williams, Jo; Sawyer, Lisa; Nick Geise (E-mail); Christen, Kevin; Hill, Larry; Fugel, Robert
Subject:	Updated: Rates & Revenue Project Kickoff - Business Team
When:	Friday, October 12, 2001 2:00 PM-3:30 PM (GMT-06:00) Central Time (US & Canada).
Where:	EB 42C2, OMA 696

This project kickoff is primarily for the business team, and will provide high level information on the team member roles, base functionality and timeline.
Please note the locations for Houston and Omaha.


Hola Susana,

Well I lost my semi-final match due to sub par serving.  If I served like I
did against you last Monday I would have won!  I'm playing Ron Billings
tonight at 6 & maybe the good-serving Bill will show up.

Espero que el problema de seno (sinus) se haya mejorado y que te pase bien
el dia.

Un beso, G.
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.


Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/?.refer=text
X-Apparently-To: jkriendler@yahoo.com via web10002
X-Track: 1: 40
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Date: Wed, 28 Mar 2001 09:04:20 -0800 (PST)
From: Jason Kriendler <jkriendler@yahoo.com>
Subject: Fwd: FW: Basketball Schedule
To: jason.williams@enron.net, cwhatche@hewitt.com
MIME-Version: 1.0
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__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/?.refer=text
--0-1074086312-985799060=:73879
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From: "Bodnar, Daniel" <daniel.bodnar@highlandsinsurance.com>
To: "Jason Kriendler (E-mail)" <jkriendler@yahoo.com>
Cc: 'Brent Cottingham' <bigb@ev1.net>
Subject: FW: Basketball Schedule
Date: Wed, 28 Mar 2001 08:28:47 -0600
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Looks like Andre didn't have your email, Jason.

You guys in for tomorrow?
> -----Original Message-----
> From:	Morgan, Andre (Litton) [SMTP:andre.morgan@litton.c-bass.com]
> Sent:	Tuesday, March 27, 2001 11:17 AM
> To:	Bodnar, Daniel; 'Cottingham, Brent 'BB''; 'Durkin, Robert 'BB'';
> 'Gerhardt, Tom 'BB''; 'Sims, Jesse 'work''; 'Van Pelt, Jonathan 'BB''
> Subject:	Basketball Schedule
>
> Hey guys I was working out at the Y yesterday and I got our schedule for
> the BB league.  IT starts this Thursday.  And the first game is at 8:10.
> Below is the rest of the schedule
>
> 4/5   9:05
> 4/12 10:00
> 4/19 Bye
> 4/26 10:00
> 5/3   9:05
> 5/10 8:10
> 5/17 7:15
> 5/24 7:15
>
>
>
>
> Andre' Morgan
> Information Technology
> (713) 960-9676 ext. 826
> andre.morgan@litton.c-bass.com
>
--0-1074086312-985799060=:73879--


Pat,

You should have been included on this.  I probably won't go to these meetings
since I won't be dealing with Unify much in the future.  I don't mind going
with you for the first couple of times if you need me to, though.

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 01/06/2000
03:53 PM ---------------------------

Heather Choate
01/05/2000 07:33 PM
To: Dave Nommensen/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Steve
Venturatos/HOU/ECT@ECT, George Smith/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT,
Katherine L Kelly/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Michael
Eiben/HOU/ECT@ECT, Richard Pinion/HOU/ECT@ECT
cc: Angelina V Lorio/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON, Ragayle
Pellum/HOU/ECT@ECT, Scotty Gilbert/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT
Subject: Recurring Logistics Unify Meeting

  Please plan to attend a meeting to discuss Logistics Unify Issues and
Priorities
 on a Bi-Monthly basis...

  Every 2nd and 4th Tuesday of the Month
 Beginning, Tuesday, January 11, 2000
 at 2pm in EB3013

   If at any time you are unable to attend, please call Heather Choate at
x33278.


Anne,

Yes, it makes sense. They should be treated as TS.

Vince

 -----Original Message-----
From: 	Labbe, Anne
Sent:	Monday, June 04, 2001 5:42 PM
To:	Kaminski, Vince J
Cc:	Roberts, Mike A.; Krishnarao, Pinnamaneni
Subject:	RE: PRC Questions

Vince,

I made a mistake in my last email- all of the Sr. Specialist are CS rather than ST.  Would you like for me to change their peer group also.  Please accept my apologies for this oversite.

Thanks,
Anne
 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Monday, June 04, 2001 5:12 PM
To:	Labbe, Anne
Cc:	Roberts, Mike A.; Krishnarao, Pinnamaneni
Subject:	RE: PRC Questions

Anne,

We should treat them both as ST.

Vince

 -----Original Message-----
From: 	Labbe, Anne
Sent:	Monday, June 04, 2001 3:22 PM
To:	Kaminski, Vince J
Subject:	PRC Questions
Importance:	High

Vince,

I am just trying to make sure that all of the data is clean for your PRC meeting on Wednesday, and noticed that although Shane Green and Chris Pernoud are both specialist, Shane is Commercial Support (CS) and Chris is Specialized Technical (ST).  Please let me know if this is correct or if they should both either be ST or CS.  I am assuming that they should both be CS since the Sr. Specialist are all ST.  Additionally, I just wanted to let you know that the following people will not be rated during the meeting because their hire date was after December 31, 2000:
Anguel Grigorov
Wichai Narongwanich
Chris Pernoud
Leann Walton

Finally, please verify that you do want to do rank the assistants tomorrow.  As you know, ranking the assistants is not required, but is a business unit leader decision.

Thanks,
Anne Labbe'


Well, I know Jack probably won't know where to pee since won't have Rosco to
aim at.  I guess Kaley will have to growl at Jack just to stay in practice.

I should add that Kendall is due at the end of next week, and if something
urgent comes up, I could have to cover for Carlos.  Not likely but you know
how the baby stuff goes.

I think Rosco is going to be at least 70 pounds, although I don't have any
information to go on.  You mentioned that his pop is a big dog, so I guess we
should expect him to be big.  Maybe one of those tall Labs.  I just hope his
personality stays the same.

Kay

"Neil Mann" <nmann@erac.com> on 03/13/2001 12:17:20 PM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE: FW: Schedule

I agree about skipping Sharon. It is his Spring break after all. I will tell
her.
Hey, don't worry, Michael can teach you about artificials! Just ask him!
I don't know about you taking Rosco. I mean it doesn't matter to me you
understand. But what will Kalie and Jack do without him? They will be so
lonely! Who will chase Jack around when he's trying to pee or bite him on
the ears? And who will be lazy with Kalie during the day? I'm just thinking
about them don't you know...NM

ps...
Have you noticed how tall Rosco is getting? It hit me today as I was
watching him with Jack. He's almost as tall as Jack! He's going to be really
big!!

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, March 13, 2001 11:45 AM
To: nmann@erac.com
Subject: Re: FW: Schedule

I cleared not going to Atlanta with Elizabeth, so I should be able to take
Michael to Palacios as soon as Monday.  Supposed to rain this weekend
anyway, so Monday is soon enough. I would just as soon not have a Sharon
appointment so we have that flexibility.  Plus, there is the possibility
that I might need to go to FW for my dad.  Michael can go to FW with me if
I need to go - he would be great company for me. I've thought about taking
him to Moody Gardens, or do some other fun stuff as an alternative.   The
long term weather forecast for Houston and Palacios is glorious for that
week, but you never know.  I don't mind taking him by myself.  I can do
most of the fishing stuff, although I don't know squat about artificials.
If I do go I would like to take Rosco.  Since my folks have an internet
connection I can keep up with a little work and write you, too.

What do you think?

ckm

"Neil Mann" <nmann@erac.com> on 03/13/2001 11:36:53 AM

Please respond to <nmann@erac.com>

To:   "C. Kay Mann (E-mail)" <Kay.Mann@Enron.com>
cc:

Subject:  FW: Schedule

What are your thoughts? It is Spring break.  NM

-----Original Message-----
From: Ron & Sharon Seals [mailto:rseals@pdq.net]
Sent: Monday, March 12, 2001 9:48 PM
To: Neil Mann
Subject: Schedule

Neil,

I will  be out of the office Wednesday and unable to receive e-mail
regarding therapy on Monday 3/19.  Please call the office and leave a
message if you will or will not be coming on Monday.  Thanks.

Sharon


- OpeningBrief.doc


-----Original Message-----
From: 	Arnold, John
Sent:	Thursday, October 11, 2001 7:01 PM
To:	Lavorato, John
Subject:

The y/y spreads have come in decently over the past week and a half.  The 2/10 spread has moved from 104 to 94.  It may be a good time to move the 3-10 to a cal 2 trade.  Pira just gave their seasonal conference in NY and they are very bullish long term gas.
	Pira's
	forecast		Nymex
Cal 2 	2.45		2.99
Cal 3	3.00		3.31
Cal 4	3.70		3.40
Cal 5	4.00		3.48
Cal 6	4.10		3.57
Cal 7	4.20		3.66
Cal 8	4.30		3.75
Cal 9	3.60		3.84		(TransAlaska Highway Pipeline)
Cal 10	3.80		3.93
3-10	3.84		3.59

Regardless of what you think of Pira and long term price forecasts, the rest of the market does listen.  They have a tremendous amount of respect in the industry and affect how customers and producers hedge.  The flow, which has been buyers over for the way backs, I think will get more pronounced, especially if the front goes down.

In the past week, I've sold Duke 40,000/d Cal 6-10 and 25,000/d Cal 7-10.  I've sold PGE maybe 30,000 day Cal 4-5.  The only seller has been El Paso whom I believe is hedging production.  He is trying to pressure the y/y spreads as a spec trade that I think was/is being done to front run the corp hedges.  I've used it as an opportunity to put a lot of spreads away for inventory down the road.  If you want to buy this strip back in the next 6 months, I think it's going to be much easier/cheaper to roll it closer.


Don and I will come up with who we will send this letter, please forward the draft of the letter when complete.  Thanks

 -----Original Message-----
From: 	Smith, Mike D.
Sent:	Monday, December 17, 2001 10:04 AM
To:	Wood, James M.; Keller, James E.; Steffes, James D.
Cc:	Darmitzel, Paul; Gahn, Scott; Black, Don
Subject:	RE: Top 22 status

Now, can you and Don winnow this list down to the LDC's where we have a real chance at making a sale AND where we need to send this letter.  Thanks.

 -----Original Message-----
From: 	Wood, James M.
Sent:	Monday, December 17, 2001 10:00 AM
To:	Smith, Mike D.; Keller, James E.; Steffes, James D.
Subject:	FW: Top 22 status

here is the list of ldc's

 -----Original Message-----
From: 	Garcia, Santiago
Sent:	Thursday, December 13, 2001 6:28 PM
To:	Kingerski, Harry; Steffes, James D.; Darmitzel, Paul; McMichael Jr., Ed; Stubbs, Shelly; Black, Don; Mills, Scott; Sharp, Vicki; Herod, Brenda F.; Greif, Donna; Breese, Mark; Hernandez, Alex; Garza, Maria; Gregory, Paul; Shireman, Kristann; Des Champs, Joseph; Hewitt, Jess P.; Vanderhorst, Barry; Wood, James M.; Sutter, Craig H.; Adams, Gregory T.; Draper, David
Cc:	Dietrich, Janet
Subject:	Top 22 status

Team,

Attached you will find the latest update (as of 12/13) on the top 22 Citygate list that we are trying to sell.

Let me know if you have any questions / comments.

Santiago

 << File: Top 22  Summary 121301.xls >>


George,

I didn't receive the information on work completed or started.  Please send
it this morning.

We haven't discussed how to proceed with the land.  The easiest treatment
would be just to deed it to us.  However, it might be more
advantageous to convey the partnership.

Also, I would like to speak to Hugo today.  I didn't find a Quattro
Engineering in Buda.  Can you put me in contact with him.

Talk to you later.

Phillip


Wendi - ENA signed the amendment on Friday.  Please let me know that you are fully agreed with Chase.  SS

 -----Original Message-----
From: 	Lebrocq, Wendi
Sent:	Friday, October 26, 2001 10:13 AM
To:	Shackleton, Sara
Subject:	RE: Chase Manhattan Bank

Thanks!

Regards,

Wendi LeBrocq
3-3835

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Friday, October 26, 2001 10:10 AM
To:	Rohauer, Tanya; Lebrocq, Wendi; Adams, Laurel
Subject:	Chase Manhattan Bank

Spoke with Phil Levy regarding several issues.  He is immediately emailing FX amendment for the existing master and will simultaneously review the existing ISDA for FX coverage.  The executed amendment will resolve the margining issues ASAP.  ENA will produce a draft Schedule/CSA to begin negotiations for an upgraded master which will include multibranch parties.
Click on this link to view the document in the Financial Trading Agreements database--> << OLE Object: StdOleLink >>


LYNN SHIVERS, DIANE
ELLSTROM
                                                          KIM THERIOT,
STEPHANIE
PIWETZ
                                                      JOE HUNTER, MELISSA
RODRIGUEZ


no


The Newsticker information will appear in both the House and Garden at the
current time - we are unable to distinguish between the two at this time.
Therefore, it would be available to all companies accessing our website,
whether they are registered users or not.

Dave

Justin Boyd
05/11/99 10:15
To: David Forster/LON/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Edmund Cooper/LON/ECT@ECT
Subject: Re: Euro Newsticker Info.

Dave,

It is important to ensure that, to the best of our knowledge, Newsticker
Information is accurately stated, current and consistent with other
information on the website and in the GTCs, Long Descriptions, User Guide,
etc.

Nonetheless, we will want to be able to rely on the Legal & Privacy
Statement, since this contains an exclusion of liability for the timeliness
and accuracy of information on the website (para 4) and an exclusion of any
warranties as to the completeness and accuracy of information (para 3).

A couple of questions:

Will Newsticker Information only be relevant and available to companies that
are actually trading on-line?
Where on the website will the "link" to Newsticker Information appear? {This
is important for the purposes of the Legal & Privacy Statement}

Regards

Justin

David Forster
04/11/99 23:40
To: Mark Taylor/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
cc:
Subject: Euro Newsticker Info.

Mark/Justin,

Obviously, we will need to have an appropriate examination of each data
element, but do either of you foresee any complications with us providing
information as per the attached via EnronOnline?

I am wondering particularly about any liability we may have in the event that
the information which we provide is late or wrong.

Comments?

Thanks,

Dave

---------------------- Forwarded by David Forster/LON/ECT on 04/11/99 21:46
---------------------------

David Forster
28/10/99 20:44
To: Marcello Romano/LON/ECT@ECT, Louise Kitchen/LON/ECT@ECT
cc: Paul Goddard/LON/ECT@ECT, Rahil Jafry/LON/ECT@ECT
Subject: Euro Newsticker Info.

Attached is a European spreadsheet which shows possible information items
which we could carry on our news ticker. (industry-specific stuff like
linepack).

It breaks down the items by product grouping.

If we want to proceed with putting this kind of info. on the ticker, we would
have to acquire legal approval and buy-in from the people who would be
responsible for updating the information.

What do you think? Should we proceed with putting this kind of stuff on the
site? Note that at the current time, it would have to appear in Garden.

Dave

---------------------- Forwarded by David Forster/LON/ECT on 28/10/99 20:39
---------------------------

Paul Goddard
28/10/99 17:49
To: David Forster/LON/ECT@ECT
cc: Rahil Jafry/LON/ECT@ECT
Subject: Euro Newsticker Info.

Dave - give me a call at your convenience to discuss.
(Note: the master file is in : T:/readwrite/web pricing / website content/
newsticker / Europe - ticker layout.xls)

Thanks,
P


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/08/2000 02:07
PM ---------------------------

"George Kutzschbach" <gkutzschbach@fulbright.com> on 12/08/2000 01:55:51 PM
To: areynaud@coral-energy.com, dwhaley@coral-energy.com,
TSeigler@coral-energy.com, Ben.F.Jacoby@enron.com, Kay.Mann@enron.com,
CCampbell@KSLAW.com, JKeffer@KSLAW.com
cc:

Subject: Section 17.4.4 of Facility Agreement

The second sentence of Section 17.4.1 of the Facility Agreement should
be revised to read as follows:

"If the Maximum Liability Amount (less any unpaid portion of the
Purchase Amount) is greater than the Proper Scope Value the difference
between such amount and the Proper Scope Value (the "Refund Amount")
shall be settled between the parties in accordance with Section 17.4.4
below."


I'm trying to track down that presentation for you, I need the directory
information.  As soon as I get it I'll have it emailed to you.

Hope you're staying out of trouble...


I cannot play on Thursday but thanks for letting me know.  Could you check
with Steve and his wife for their availability on Sunday.  I emailed him but
wanted to make sure he got it.  Thanks.

TGBOLDIG@aol.com on 05/22/2001 05:42:37 PM
To: <cegann@dow.com>, <Stanley.Horton@enron.com>
cc:

Subject: Golf Thursday

We have a 9:00 tee time Old Course

Tom


you wish that was your problem

-----Original Message-----
From: Lucci, Paul T.
Sent: Friday, October 19, 2001 3:16 PM
To: Reitmeyer, Jay; Lenhart, Matthew
Subject: FW: Dear Abby.......

-----Original Message-----
From: Whitt, Mark
Sent: Friday, October 19, 2001 1:58 PM
To: Staab, Theresa; Lucci, Paul T.
Subject: FW: Dear Abby.......

-----Original Message-----
From: Appling, Mike [mailto:mappling@chematch.com]
Sent: Friday, October 19, 2001 1:54 PM
To: Bill Strait (E-mail); Brett Treadwell (E-mail); David Elias (E-mail 2); David Zaozirny (E-mail); Dwayne Hyzak (E-mail); George Appling (E-mail); Jeff Sproull (E-mail); Jerry Jernigan (E-mail); Jes Morris (E-mail 2); Kelly Boston (E-mail); Kregg Lunsford (E-mail); Whitt, Mark; Simon Palmer (E-mail); Steven Jernigan (E-mail); Steven Wolf (E-mail); Todd Quattlebaum (E-mail 2); Wade Sanders (E-mail); William evans (E-mail)
Subject: FW: Dear Abby.......

-----Original Message-----
From: McAfee, Larry
Sent: Friday, October 19, 2001 2:46 PM
To: Appling, Mike; Cook, Fred; Creasman, Scott; Ereli, Michael; Van Zijll, Dan; Scott McAfee Csqe (E-mail); W. Mohrman Joel (E-mail); Charles Mohrman (E-mail); Jungman Bob (E-mail); Andy Harvin (E-mail); Bob Orr (E-mail); Jeff Seal (E-mail)
Subject: Dear Abby.......

Subject: Dear Abby.......

Dear  Abby ,
I met Laurie at a singles dance.  I knew as soon as I looked at her that she
was too young for me. I'm 49 and she was 32 , 17 years my junior. I really
regretted it because we got along so well that evening. She made me feel so
comfortable in her presence.  Our age difference didn't seem to matter to
her as much as it did to me.
Abby, I told her I felt people were staring at us.  I said they are probably
wondering if I am your father.  She thought I was being silly and said if I
wanted to see her again she would be honored to go out with me.
Laurie and I have been dating now for three months.  I really like her and I
think she likes me.  Still, everywhere we go, I feel people watching us.
Sometimes they just outright stare.  It is very annoying and I know it is
because of our age difference that draws these prolonged looks from everyone
we meet.  I just feel so uncomfortable about this whole thing and wonder if
I should continue with the relationship. Why do people have to be so
rude....?
Sincerely,
John
PS: I have attached a picture of Laurie.


---------------------- Forwarded by Jim Schwieger/HOU/ECT on 03/22/2001 03:08
PM ---------------------------

Jim Schwieger
10/10/2000 10:28 AM
To: Nick Cocavessis/Corp/Enron@ENRON, Brad Blevins/HOU/ECT@ECT
cc: James McKay/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT, Edward D
Gottlob/HOU/ECT@ECT
Subject: Status of MidCon Flagstaff Meter Station

Nick & Brad:

What is the status of the MidCon Flagstaff Meter Station?  As contemplated
HPL is having a difficult time delivering Entex volumes into MidCon during
the cold weather Houston has been experiencing.  Given changes in MidCon's
system this situation will probably continue to be a challenge throughout the
winter.  This problem is compounded by the start up of the Nov. - Feb.
deliveries to MidCon of 83,334 MMBtu/d.  All of our eggs seem to be
collecting in the Flagstaff Meter Station so its imperative that this station
be operational ASAP.  Please provide me with an update!

 Jim Schwieger


Please note that the company number for Enron Energia Industrial de Mexico B.V. has changed from 45B to 1627.  This is in order to accommodate the functional currency change from Eurodollars to USD.

Please share this information with other interested parties.

Kate B. Cole
Director, Corporate Services
Enron Corp.
Tel: (713) 853-1624
Fax: (713) 646-8007
Email: kate.cole@enron.com


Dear Legal Edge User,

If you are using the Legal Edge portal, please read this very important message.

We wanted to inform you that changes have been made to access the Enron Legal Edge portal.

What to Expect
When accessing the legal edge portal at http://legaledge.corp.enron.com/tibco/, you will be prompted for a user name and password as usual.  However, the user name has changed. You will no longer log into the portal with your legal edge passwords. Your access will be controlled via the standard Enron network directory. Therefore, effective immediately, you will login using the same user name and password used to login to your local workstation, your CORP ID.

In addition to the different user name and password, there will be another change. Due to the application upgrade, any personalization you have made to the portal in the past will be lost. As those changes made are associated with your old legal edge portal user name, these personalizations will not automatically be applied to your CORP login. Therefore, do not be alarmed if you do not see all of the content you saw before. Simply, re-configure the portal for your CORP id to see the same content you saw before. Unfortunately, there is no way to get around this issue.

Benefits
- Only one user name password to remember (Use CORP network id and password)
- Not prompted for login for other applications participating in Single Signon
- Once you login once, you will never be required to login again from that workstation (unless you click the logout link)

Effective Date
The Legal Edge portal / Single Signon integration is effective Friday, November 9.

Forward Email to Administrative Staff
Please forward this email to your the administrative staff of your department, so they can access the portal site. Thank you.

Contact Us
If you would like to provide feedback for the Single Sign-On effort, send an email to sso@enron.com. If you have issues or concerns regarding this change, please contact the Resolution Center at ext. 3-1411.

Regards,
The Legal Edge and Single Signon Teams
sso@enron.com


I remembered!  Do we have access to the website(s) of the publications which
we receive in order to do searches?  We must have a password.  Thanks.  Sara


Pls include on the report.

Jim
 -----Original Message-----
From: 	Ibrahim, Amr
Sent:	Wednesday, September 05, 2001 9:39 AM
To:	Steffes, James D.
Cc:	Levy, Alberto; Canovas, Guillermo; Grimes, Michael; Maurer, Luiz; Gottfredson, Bryan; Stransky, Joan; Shapiro, Richard
Subject:	 Monthly ENA Update -- Risk Analytics Group

Jim:

Please find attached the report for the month of September, 2001 for Risk Analytics Group.  Please let me know if you have any question.

Brgrds

AI
3-3037

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Thursday, August 30, 2001 11:32 AM
To:	Kaufman, Paul; Montovano, Steve; Ryall, Jean; Dadson, Aleck; Migden, Janine; Kingerski, Harry; Nicolay, Christi L.; Novosel, Sarah; Ibrahim, Amr; Dasovich, Jeff; Cantrell, Rebecca W.
Cc:	Shapiro, Richard
Subject:	Monthly ENA Update -- AS OF SEPT 5 01

With everything else going on, it has been hard to develop the monthly report for ENA management.

I'd like to re-start this report and provide an update at the beginning of September.

While I am aware of some efforts, I am sure that I don't know about everything that is critical and on-going.

I need get a list of projects that your teams are working on for Deal Support, Regulatory Risk, and Advocacy.  I am truly at a loss for current deals that Government Affairs is supporting and our expectation of closing dates.

For each project, I need lead Government Affairs person, financial impact (our your best guess), background and key issues, and strategies and next steps.

This list does not need to be exhaustive, but simply the major activities currently underway.

Thanks - I appreciate your help,

Jim


Leslie asked me to forward this.  Summary of FERC staff testimony is in red.

NGI's Daily Gas Price Index
published : May 14, 2001
FERC Staff Finds Market Power Concerns in El Paso Case
El Paso Natural Gas and El Paso Merchant Energy probably exercised market
power in the Southern California gas market and drove up gas prices over the
past year when pipeline capacity constraints existed, FERC staff concluded
last week in testimony before Chief Administrative Law Judge Curtis Wagner
Jr.
At the same time Southern California Edison told FERC that El Paso caused a
$3.7 billion increase in gas costs in California from March 2000 to March
2001 by withholding capacity from the market and driving up the basis
differentials between supply basins and California. Edison based its
testimony on analysis by the Brattle Group.
Meanwhile, El Paso countered with its own data arsenal and army of
consultants. El Paso said the price increases were caused by unprecedented
demand and inadequate supply infrastructure. Harvard University economics
professor Joseph Kalt said on behalf of El Paso that the exorbitant gas
prices were the result of a combination of supply and demand factors related
to the electricity market and ultimately caused by decades of bad public
policy decisions rather than El Paso's market power in the Southwest.
FERC set the market power issue for hearing in March before Judge Wagner and
ordered him to provide an initial decision within 60 days (see Daily GPI,
March 29). The Commission cleared El Paso of charges that it rigged the
bidding for capacity on its system during an open season in February 2000 to
favor its affiliates. Critics alleged El Paso Merchant Energy Gas L.P. and El
Paso Merchant Energy Co. ended up the big winners in the open season, snaring
three contracts for 1.22 Bcf/d of firm capacity on El Paso to the California
border, because they received inside information on a discount transportation
rate. But in the order on complaint, the Commission said it found "no merit
in the allegations." Moreover, it said there was no evidence that El Paso
violated its standards of conduct. However, the allegations that El Paso
engaged in market and price manipulation were not dismissed.
In his testimony last week, FERC economist Dr. Jonathan D. Ogur concluded
that under certain circumstances El Paso was able to wield market power in
the Southern California gas market. Its market position as measured by the
Herfindahl-Herschman Index (HHI) exceeded levels deemed appropriate by FERC,
the Federal Trade Commission and the Justice Department, he said.
When the state is considered as a single market, El Paso's market
concentration and market share are "both within the safe harbor," he said.
However, when there are capacity constraints in Southern California, as there
were last summer and winter, and when El Paso's supplies include both firm
and "nearly firm" gas, the HHI increases to 2,262, said Ogur. "This exceeds
the 1,800 threshold for concern that sellers may possess market power. El
Paso's market share rises to 45%, which exceeds the 35% threshold.
"When pipeline constraints separate Southern California from Northern
California, market concentration may be outside the safe harbor and El Paso's
market share may be greater than the threshold," he said.
Although about 1 Bcf/d of excess capacity may have existed in the Northern
California market last summer, it's not clear that it was available to
Southern California customers in sufficient quantities to constrain El Paso's
market power, said Ogur.
Ogur's testimony differs substantially from testimony submitted last week by
John Morris for El Paso Merchant and testimony submitted by Lukens Consulting
for El Paso Pipeline. Those studies defined the market in question as
including all of California, while Ogur defined the relevant market as
Southern California when pipeline constraints exist.
The Brattle Study, which was submitted on behalf of Southern California
Edison, concludes El Paso Merchant Energy was able to exercise market power
through its control over 1.4 Bcf/d of firm capacity on El Paso Pipeline and
Transwestern, but the study does not specifically define the market. It
places an HHI of 2,179 for firm capacity held by El Paso Merchant on El Paso
and Transwestern between the San Juan Basin in New Mexico and California. The
Brattle study calculates El Paso's market share to be 34%, rising to 48%
after adjusting for Southern California Gas' and PG&E's core capacity.
The study fails, according to Ogur, by excluding capacity on other California
pipes and storage space. It also attempts to find market power abuse by
analyzing basis differentials that exceeded maximum tariff rates, but admits
it is unable to determine if the abnormal basis differentials might have been
caused instead by capacity constraints. It also can't deny the fact that
interruptible transportation was available at maximum rates.


---------------------- Forwarded by Scott Neal/HOU/ECT on 09/14/2000 06:14 PM
---------------------------

	Enron North America Corp.

	From:  Colleen Sullivan                           09/13/2000 11:54 AM

To: Phillip K Allen/HOU/ECT@ECT, Sandra F Brawner/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, Thomas
A Martin/HOU/ECT@ECT, Greg McClendon/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT,
Kimberly S Olinger/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Fletcher J
Sturm/HOU/ECT@ECT, Judy Townsend/HOU/ECT@ECT, Elsa Villarreal/HOU/ECT@ECT,
Scott Goodell/Corp/Enron@ENRON, Keith Holst/HOU/ECT@ect, Kate
Fraser/HOU/ECT@ECT, Andrew H Lewis/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Brad McKay/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT
cc:
Subject: Regulatory Filing Summary

Enclosed is the latest regulatory filing summary, as well as the latest
addtions to the Order 637 Filings.  Please note that the latest round of
Order 637 filings begins on page 9 of that attachment.


Kay:

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

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

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

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


I told you I had a rough day!!!  I was DYING by the last game.   I've never
felt that out of shape.   So what are you still doing here?

Becky Pitre
06/05/2000 06:45 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: Hey

OK, you get sympathy with a raspberry.  That's pretty intense to slide!  I
don't even sprint.  Wow.  B

Robin Rodrigue
06/05/2000 05:30 PM
To: Becky Pitre/HOU/ECT@ECT
cc:
Subject: Re: Hey

You must be having a bad day!!  But you know it's not my fault...and there's
nothing soft about softball!!  And I slid yesterday, twice, so I have a
little bit of a rasberry on my calf.  Did that get me any sympathy??
Probably not!  I hope you finish close soon.

Becky Pitre
06/05/2000 05:25 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: Hey

No.  Not softball.  SOFT is the key word.  B.
Hard ass, aren't I?

Robin Rodrigue
06/05/2000 05:24 PM
To: Becky Pitre/HOU/ECT@ECT
cc:
Subject: Re: Hey

I'm glad to know I'm not the only one that's this sore.  We should be sore
though.  We played 5 games.  And I played every second of every game.  Now
don't you feel sorry for me?!


That was an interesting little conversation.  I came back down and looked for
you guys but you had both split.  We should take a few minutes and plug John
in on what happened at the end of that meeting when the power issues came
up.  I'm somewhat surprised at Bill's reaction, but what the hell, now we can
run with Cunningham, and we know MKM's pulse on Hubbard (and Bill's).  Pretty
damn good end to the week, all things considered.  DF


Dear OU Team:

Thanks to each of you for your help this season.  As many of you know, this
past Super Saturday was quite a success!

I have included a list of the 7 candidates in attendance this past weekend.
Unfortunately, 2 out of the 7 candidates will not receive offers.  I have
indicated them in gray.

I have personally called all 7 candidates to inform them of their offer
status.

Thanks again for all your help!  Please feel free to call and congratulate
these superstars!


We will need a small staff to handle potential trades for Wed. the 27th.
Most of the pipelines are out of the office, so I would expect the work load
to be minimal.  I plan on coming in, and would like to have a minimum of
three on staff, so I need two volunteers (one offsystem, just in  case).  If
anyone is going to be in town, please forward a number, in case we need to
call any additional people in, or have you work on a laptop from home.  I
will get with you after the new year to make up the holiday you miss, or, you
can schedule your day now, I have the calendars.  Also, I will be out on
vacation Friday, Dec. 22nd and will need someone to send the nominations to
the plants, I don't expect to have full system coverage, just HPL/HPL and
HPL/ENA as needed.  Let me know if you are interested in learning how to do
this.

Thank you,

Mary


You have received this email because the requester specified you as their
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Approval to review and act upon this request.

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Vasant,

What do you think?  He may be expensive.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/30/2001 05:31 PM ---------------------------

Marshall Brown <Marshall.Brown@robertwalters.com> on 04/25/2001 01:13:44 PM
To:	Vince.J.Kaminski@enron.com
cc:
Subject:	RE: Resume

Vince,
     I apologize, I sent you the wrong resume!  Here is the correct one.
 <<LITT_THO.DOC>>

Marshall Brown
Vice President
Robert Walters Associates
Phone #: 212-704-0596
Fax #:212-704-4312
marshall.brown@robertwalters.com
www.robertwalters.com

> -----Original Message-----
> From:	Vince.J.Kaminski@enron.com [SMTP:Vince.J.Kaminski@enron.com]
> Sent:	Wednesday, April 25, 2001 1:08 PM
> To:	Marshall.Brown@robertwalters.com
> Subject:	Re: Resume
>
>
> Marshall,
>
> He looks OK but below the level of quant skills I typically look for
>
> Vince
>
>
>
>
>
> Marshall Brown <Marshall.Brown@robertwalters.com> on 04/23/2001 09:33:00
> AM
>
> To:   Vince Kaminski <vkamins@ect.enron.com>
> cc:
> Subject:  Resume
>
>
> Vince,
>      I know this candidate is actively interviewing at El Paso and I think
> Reliant.  He has excellent quantitative background, but no real energy
> experience.  If you are interested in speaking with him let me know.
> Regards,
> Marshall Brown
> Vice President
> Robert Walters Associates
> Phone #: 212-704-0596
> Fax #:212-704-4312
> marshall.brown@robertwalters.com
> www.robertwalters.com
>
>
>  <<LITT_HAR.DOC>>
>
>
> **********************************************************************
> CAUTION: Electronic mail sent through the Internet is not secure and could
> be intercepted by a third party.
>
> This email and any files transmitted with it are confidential and
> intended solely for the use of the individual or entity to whom they
> are addressed. If you have received this email in error please notify
> the system manager.
>
> This footnote also confirms that this email message has been swept by
> MIMEsweeper for the presence of computer viruses.
>
> **********************************************************************
>
> (See attached file: LITT_HAR.DOC)
>
>  << File: LITT_HAR.DOC >>

 - LITT_THO.DOC


i suck-hope youve made more money in natgas last 3 weeks than i have. mkt shud
be getting bearish feb forward-cuz we already have the weather upon us-fuel
switching and the rest shud invert the whole curve not just dec cash to jan
and
feb forward???? have a good weekend john


Oscar and David - Here is the redrafted guarantee, including: (a) an
expiration provision based on your language with an expiration date of March
13, 2002; and (b) a single notice requirement.  I hope we can finalize this
document first thing in the morning.  Frank


FYI.
---------------------- Forwarded by Alan Aronowitz/HOU/ECT on 09/30/99 09:12
AM ---------------------------

Matthias Lee
09/29/99 03:20 AM
To: Robert Quick/LON/ECT@ECT
cc: Alan Aronowitz/HOU/ECT@ECT, Anita Fam/SIN/ECT@ECT, Angeline
Poon/SIN/ECT@ECT
Subject: MT Pacific Valour - 3KT PX Daesan to Map Ta Phut

Robert

As spoken, I have been advising Russell Aeria here in Singapore on a
contentious matter.  Watson Farley & Williams ("WFW") have been retained as
external counsel. Because the issues are to be determined under English law
and your experience with admiralty matters, Alan has suggested that we seek
your counsel as well.

Below are the salient facts and issues. If you need and clarification or wish
to discuss, please call me  or let me know if we should schedule a time
tomorrow to speak again.

My numbers are : (65) 838 9103 (office); (65) 96919646 (mobile)

Facts:

1. ECTS purchased 3KT PX from Hyundai Singapore Pte Ltd ("Hyundai") FOB
Daesan, Korea; loading date range  14 - 20 Sept. ECTS sold the same 3KT PX to
Tuntex (Thailand) Public Company Limited ("Tuntex") CFR Map Ta Phut Thailand;
delivery date range 1 - 30 Sept.

2. ECTS chartered the Pacific Valour under asbatankvoy ETA Daesan 11/12 Sept,
Laycan 14 - 20 Sept.  The vessel was not able to meet ETA at Daesan
apparently because of delays at the preceding port in China The vessel
ultimately advised on 20 Sept ETA 22/pm, ie. 2 days beyond loading date
range.

3. ECTS failed to secure alternative tonnage primarily because of a typhoon
on 20 Sept. On 21 Sept, Hyundai terminated the agreemnet to supply the PX on
grounds that loading date range has expired. ECTS cancelled the charter on
the same day.

4. Alternative supply has been arranged for Tuntex. ECTS is considering
possible actions against Hyundai and the vessel owners.

5.  WFW has advised, subject to facts and evidence, ECTS has a reasonable
chance against the vessel owner for failing in their duty of reasonable
despatch to make the itinerary. We are comfortable with this opinion. WFW,
however, has opined that WCTS does not have a reasonable cause of action
against Hyundai, and it is in this regard we seek your comments.

Issues& advice:

a. Whether the loading date range is a condition of the contract with Hyundai
such that ECTS's failure to load within the date range was a breach entitling
Hyundai to rescind.

WFW advise that it is a condition as time in commercial contracts are of the
essence unless expressed otherwise.

b. If prima facie a condition, whether the definition of "Default" in the
confirmation (Enron's buyer form) with Hyundai under "DEFAULT, TERMINATION
AND LIQUIDATION", namely,  "...a material breach of this Agreement and fails
to cure such breach within ten (10) daysafter written notice..." implies into
a contract a cure period for material breaches.

WFW advise that there is no legal basis to argue that the clause overrides
Hyundai's right to terminate.

I attach the Hyundai confirmation for your easy reference:

c. Whether the taped conversation between Russel and Joseph Tan amounts to an
election to affirm the contract on the part of Hyundai such that they cannot
thereafter rely on ECTS's breach to terminate.

I was given the transcript yesterday and examined it closer today. It is
quite short and attached for your reference. The conversation took place on
20 Sept at about 9 am.

I have today asked WFW for their opinion on the same and expect them to
revert before the end of the day.

My view is that it is difficult to construe an election from the conversation
which amounts to Hyundai giving up their right to terminate. Even if it were
an election, I am of the view that it would be limited to an extension untill
21 Sept. In this regard, the vessel did not arrive until 22 Sept and we
advised Hyundai before they terminated on 21 Sept that ETA was 22/pm.  Please
let me have your comments notwithstanding.

If you wish to review WFW's opinions, please let me know and I'll fax them
across. I look forward to hearing from you soon.

Many thanks

Matt


---------------------- Forwarded by Tana Jones/HOU/ECT on 01/10/2000 05:02 PM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           01/10/2000 03:45 PM

To: Lucy Ortiz/HOU/ECT@ECT
cc: Bob Bowen/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
Subject: Re: Weather CP?

Williams Energy Marketing & Trading Company shouldn't be a problem for
weather transactions.  The Master Agreement we have in place with them is an
ISDA Local Currency.  The only thing we need to cover is in the confirmation
adding the trade option rep for weather, since weather wasn't covered way
back then.  Otherwise, they are already approved for all products for online
trading.  Since the master is a Local Currency form, we might run into some
problems if they wanted to trade non-u.s based products, or use any other
currency other than U.S. $$.  If either of those issues come up, let me know.


This is fine with me.  Should we send a BCC to Dave Cook and Howard Hawks.

Richard B Sanders
01/13/2000 03:11 PM
Sent by: Twanda Sweet
To: Kevin M Presto/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@Enron, Steven J
Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, James B Fallon/HOU/ECT@ECT,
Elizabeth Sager/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Lloyd
Will/HOU/ECT@ECT
cc: Richard Ingersoll/HOU/ECT@ECT
Subject: Letter to John Pope

Attached is a new draft of the letter to John Pope with all comments
received.  Dick Ingersoll will send this out to TVA tomorrow.  If you have
any other additions, please get them to me today.


Message sent from the pjm-customer-info mailing list at pjm-customer-info@majordomo.pjm.com:

The implementation of incorporating PJM West into PJM will not occur on January
1, 2002 as planned because the merger has not yet received final approval by
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2001. Much of the system integration coding, testing and training work has
already been completed, and staff has been employed to operate the PJM West
office and dispatch center in Greensburg, PA.

At its meeting on December 19, the FERC rejected a PJM West "cleanup" filing on
procedural issues, while continuing to endorse the concept of PJM West, and
suggested that they would act on PJM West in the near future. In order to allow
Allegheny necessary lead time, the implementation date will be the first of the
month at least 30 days following FERC approval. PJM will continue to move toward
the implementation of required system changes in an orderly fashion.

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I would recommend that either Steve or myself call Bittenbender to recommend Kirk House - we met with him on the RTO discussions.

Jim

 -----Original Message-----
From: 	Shapiro, Richard
Sent:	Tuesday, November 06, 2001 9:52 AM
To:	Migden, Janine; Steffes, James D.; Montovano, Steve; Landwehr, Susan M.
Subject:	RE: Kirk House

We should do it..you all figure out who is best person is. Thanks.

 -----Original Message-----
From: 	Migden, Janine
Sent:	Tuesday, November 06, 2001 9:48 AM
To:	Shapiro, Richard; Steffes, James D.; Montovano, Steve; Landwehr, Susan M.
Subject:	FW: Kirk House

I received a call from Dan Clearfield this morn.  Nora Mead-Brownell has asked for his assistance in getting marketers to call the governor's office in support of Kirk House who is a former aide and is seeking the position of Small Business Advocate.  Mr. House is a supporter of competition and would be helpful in that position.  Apparently, the electric companies are opposing him. I would recommend that we make the call and I would be happy to do so, however, there are others who may have better contacts than I do (such as Sue in her work with the Governors),  Please advise.

Janine

 -----Original Message-----
From: 	"Daniel Clearfield" <dclearfield@wolfblock.com>@ENRON
Sent:	Tuesday, November 06, 2001 8:58 AM
To:	JMigden@enron.com
Subject:	Kirk House

Here is the name and number of the person in the Gov's office that deals with utility issues:  Fritz Bittenbender,783-2896.  The appointment is made by the Gov. (Schweiker).  He has two top aides:  Mark Campbell and Dave Sanko.  I can get you current phone #s for the latter people if you wish them.   Thanks for whatever help Enron can be.

Daniel Clearfield, Esq.
Wolf, Block, Schorr and Solis-Cohen LLP
212 Locust St., Suite 200
Harrisburg, PA  17101
(717) 237-7173
(717) 237-7161 fax


-----Original Message-----
From: 	Weissman, George
Sent:	Wednesday, May 23, 2001 12:40 PM
To:	Braband, Sandi
Cc:	Hyvl, Dan; Thomas A Martin/HOU/ECT@ENRON
Subject:	ENA contracts to be assigned

No, not directly.  I would suggest you contact Tom Martin.  George
---------------------- Forwarded by George Weissman/HOU/ECT on 05/23/2001 12:32 PM ---------------------------
From:	Sandi M Braband on 05/23/2001 12:00 PM
To:	George Weissman/HOU/ECT@ECT
cc:	Dan J Hyvl/HOU/ECT@ECT
Subject:	ENA contracts to be assigned

George,
Have you been working with anyone on ENA's behalf to bless the list of contracts to go to HPL? If so, who? Let me know please--thanks


i am just seeing this girl.  i has only been a couple of months.  lets all
meet up one night and party.


I need to send a copy of a report to:

Greg Blue
Dynegy
5976 W. Las Positas Blvd.
Suite 200
Pleasanton, CA  94588

Could you stop by and pick it up when you get a minute?  Thanks a million.

Jeff


Folks:

Review Class will be held from 11:00 am to 2:00 pm on Saturday, 5/05/01 in
C210.

Mukesh

>At 01:14 PM 4/27/01 -0700, you wrote:
>>RE:  E 234 REVIEW SESSION
>>
>>TJ and Mukesh:
>>
>>Your reservation is confirmed, as follows:
>>
>>C210 (59 seats, A/V)
>>Saturday
>>5/5/01
>>11 AM - 2 PM
>>
>>David Pierce has an event scheduled from 9 AM - 10:30 AM.  Because of our
>>recent rash of break-ins, I am trying to minimize the number of open
>>rooms on the weekends.
>>
>>Sue
>>
---------------------- Forwarded by Mukesh Bajaj/LECG on 04/29/2001 10:54
AM ---------------------------

Mukesh Bajaj
04/25/2001 05:56 PM

To:   steve_debruyn@notes.teradyne.com, sboyle@haas.berkeley.edu,
      jochu@haas.berkeley.edu, dasovich@haas.berkeley.edu,
      debruyn@haas.berkeley.edu, devroede@haas.berkeley.edu,
      firpo@haas.berkeley.edu, frye@haas.berkeley.edu,
      guinney@haas.berkeley.edu, hari@haas.berkeley.edu,
      jhowe@haas.berkeley.edu, hurley@haas.berkeley.edu,
      huss@haas.berkeley.edu, jjackson@haas.berkeley.edu,
      mkang@haas.berkeley.edu, kannan@haas.berkeley.edu,
      kelly@haas.berkeley.edu, kerudi@haas.berkeley.edu,
      keshav@haas.berkeley.edu, kiem@haas.berkeley.edu,
      jkumar@haas.berkeley.edu, kupiecki@haas.berkeley.edu,
      langridg@haas.berkeley.edu, petlee@haas.berkeley.edu,
      lysaght@haas.berkeley.edu, magner@haas.berkeley.edu,
      mcvey@haas.berkeley.edu, mi@haas.berkeley.edu,
      tomiller@haas.berkeley.edu, aspatel@haas.berkeley.edu,
      prabhaka@haas.berkeley.edu, rangaraj@haas.berkeley.edu,
      arao@haas.berkeley.edu, sama@haas.berkeley.edu,
      siddiqi@haas.berkeley.edu, sklarin@haas.berkeley.edu,
      tatlow@haas.berkeley.edu, fwen@haas.berkeley.edu,
      windham@haas.berkeley.edu, swu@haas.berkeley.edu
cc:
Subject:

Hi folks:

Here are the notes on restructurings I promised.

(See attached file: CorpRestruct.ppt)

Also, I have requested the EMBA office for a class room for the review
session on 5/05.  I will get back to you asap.

Mukesh

(See attached file: CorpRestruct.ppt)
 - CorpRestruct.ppt


Good morning,

Please be advised that the SWAP FORMS have been relocated to the following
path:

O:common\Legal\atty.fms\swap forms

Please direct any questions regarding the forms to Susan Bailey at X34737.

Best regards,
Taffy Milligan
X57373


As a result of our call regarding Steve's appearance before Congressmen
Tauzin and Barton on the 21st, the need for current information in the
following areas was highlighted:

 California specific issues:
Legislative      Sandi McCubbin
PUC      Harry Kingerski
Bankruptcy
Environmental   Mary Schoen

Federal Issues:

Top 5 things each Federal Executive Agency could do Tom Briggs
FERC Wholesale Issues

Jeff Dasovich and John Neslage will work to compile a comprehensive
situational update, and also work to pare it down to essential talking points.

If anyone has any additional comments or additions, please let me know, and I
will update our list accordingly.

Thanks-

John


Yes, I thought was to not take back space in the EOT area since we have some
available and were not looking to expand there.

Drew Fossum
12/04/2000 07:57 AM
To: Lindy Donoho/ET&S/Enron@ENRON
cc: Steven Harris/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON,
Lorraine Lindberg/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON

Subject: Re: Draft Open Season Posting

Looks OK to me, subject to approval from MKM's group.  Should we also solicit
turnback in the East of Thoreau area in addition to soliciting it from Cal.
border to Thoreau?  Is it our theory that since Thor.-Cal is the constrained
segment, thats the only area we need to solicit turnback on?  DF

Lindy Donoho
12/01/2000 02:22 PM
To: Steven Harris/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON
cc:

Subject: Draft Open Season Posting

Attached is a draft posting for the 10,000/d mainline expansion.  Please let
me know your comments by the end of the day Monday, December 4th.

Thanks!


We have for the last couple of weeks started to compile the Re-start/Integration Plans for Netco.  So far, we have primarily focussed on the mid/back plans where the technology requirements have been the driving factors.  Several plans are in the final stages of completion including:-

+	Infrastructure		Jenny Rub
+	Development		Jay Webb
+	EnronOnline		Webb / Forster
+	HR			David Oxley
+	Cash Management	Tom Myers
+	Credit			Debbie Brackett

The rest will be completed shortly.

We now need to focus on the commercial plans which have a slightly different focus. John and I would like to receive the plans "Re-start/Integration"  plans by January 7th, 2002 in order to go through them individually with each of you or in groups.  The focus should be to ensure that we have as much of the business up and running in the shortest time possible.  I have a suggested outline which you do not have to use but I thought it might help.  Please decide within yourselves the areas you will cover together or individually.

Customer Side
+	Customers		Phase  1 - First Week (eg top 10)
				Phase  2 - First Month (eg top 50)
				Phase  3 - First Quarter (eg top 100)
+	Action Plan		Phase  1 Customers
				Phase  2 Customers
				Phase  3 Customers
+	Contracts by customers (pre-prepared with credit terms etc)
+	Customer visit schedule

Product Side
+	List of Products	Phase 1 - First Week
				Phase 2 - First Month
				Phase 3 - First Quarter

Target Number of Transactions
+	Phase 1
+	Phase 2
+	Phase 3

IT transfer

Louise


---------------------- Forwarded by Simon Shih/Graphics/Enron on 01/16/2001
12:05 PM ---------------------------
From: Simon Shih on 01/16/2001 11:44 AM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Presentaion

This Order

Agenda
01
02
03
04


Lisa-You are so cute!!!  I love both of your fun ideas. Either one is great
with me.  Considering my man in a million miles away I may have to come
stag!!!!  As far as the date (calendar date)I am actually leaving town on
the 13th.  I know I am probably cause trouble, but if we could do it maybe
earlier that week.  I know you working folks have office parties etc. so
this might not be possible and it might be hard to get people to go out on a
Mon or Tues.  These are just my thougths!!!!!!  Can't wait to see everyone!
Sarah

>From: <Lisa.A.Meador@chase.com>
>To: jkbowles@hotmail.com, ashleastu@aol.com,
>julianna.grisham@halliburton.com,        sscott5@enron.com,
>sarah_c_buck@hotmail.com, rebeccacooke@hotmail.com
>Subject: A Christmas Tasters
>Date: Fri, 17 Nov 2000 14:55:23 -0600
>
>
>
>Hey guys!
>
>It is that time of year when everything gets SO crazy, so I am
>thinking.........
>we need to plan our Taster's Finale ahead of time so we can all mark our
>calendars and so we can find a place!
>
>Here are some thoughts:  we could do a boy/girl Taster's where we all
>invite
>some of our friends, guys and girls to join us and we rent out a room at a
>restaurant.  Or we could have just girls and have a really nice Christmas
>celebration at a cool restaurant and do "Secret Santa".  Either way, it
>would be
>a blast.
>
>How does Thursday, Dec 14th sound?
>
>So, here is what I need:  your vote on............... the type of party,
>then
>what restaurant that goes with that idea, then affirmation of the date.
>
>Get excited girls!  This is going to be fun!
>
>Love you guys,
>Lisa
>
>

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Stephen, this lists the obligations that the STSW desk can deliver on for the month of January.  The in the money MW totals are summarized and a market price was used to determine an expected cost to satisfy these obligations.  These costs assumed that the purchase obligation was incurred for the calendar month of January 02 at todays market price.  If you have any questions please contact myself or Tom Alonso.


Les,
Last night 6/6 Dave Mitchel called at 17:45 to say he would be generating 3mw at 18:30.  I told him I'd start selling the 3's for HE:20 and if there were any problems or any changes to give me a call.   After I had already sold the 3's and bought transmission hour by hour for a couple of hours, Dave called me at 21:45 to say they would be coming on in 5 minutes.  So we sold 20,21,&22 for frontier when they were not generating.
Eric


missing deal

sell aep
25 mw
125.00
Q4
np 158