Enron CFO's Partnership Had Millions in Profit
The Wall Street Journal, 10/19/01
Enron CFO Profited From Partnerships With Company, WSJ Reports
Bloomberg, 10/19/01

The New Power Company Revises Its Netting Agreement With Enron; Provides For Receivables and Inventory Financing
Business Wire, 10/19/01

The Five Dumbest Things on Wall Street This Week
TheStreet.com, 10/19/01

K Street's Top 10: The Shifting Lineup
National Journal, 10/20/01
Houston entrepreneurs added to Texas Business Hall of Fame
Houston Chronicle, 10/20/01
Recession, Budget Cuts, Travel Fears To Subdue LME Week
Dow Jones Commodities Service, 10/19/01
HC to hear DPC's plea
The Times of India, 10/19/01

Enron CFO's Partnership Had Millions in Profit
By Rebecca Smith and John R. Emshwiller
Staff Reporters of The Wall Street Journal

10/19/2001
The Wall Street Journal
C1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

A limited partnership organized by Enron Corp.'s chief financial officer, Andrew S. Fastow, realized millions of dollars in profits in transactions it did with Enron, according to an internal partnership document.
The partnership, in some instances, benefited from renegotiating the terms of existing deals with the Houston energy company in ways that improved the partnership's financial positions or reduced its risk of losses.
Mr. Fastow, and possibly a handful of partnership associates, realized more than $7 million last year in management fees and about $4 million in capital increases on an investment of nearly $3 million in the partnership, which was set up in December 1999 principally to do business with Enron.
The profits from the deals were disclosed in a financial report to investors in the partnership, LJM2 Co-Investment LP, that was signed by Mr. Fastow as the general partner and dated April 30. In one case, the report indicates the partnership was able to improve profits by terminating a transaction early.
The LJM2 arrangement has become controversial for Enron, as shareholders and analysts have raised questions about whether it posed a conflict by putting the company's chief financial officer, who has a fiduciary duty to Enron shareholders, in a position of reaping financial rewards for representing LJM2 investors in business deals with Enron. Investors in LJM2 include Wachovia Corp., General Electric Co.'s General Electric Capital Corp. and Credit Suisse Group's Credit Suisse First Boston.
Attention has focused on Mr. Fastow's partnership activities at a tumultuous time for Enron, which over the past decade grew enormously by becoming the nation's biggest energy-trading company.
This year, though, it has been hit by a string of troubles, from soured business initiatives to executive departures. On Tuesday, Enron announced a $618 million third-quarter loss, because of a $1.01 billion write-off on investments in broadband telecommunications, retail energy services and Azurix Corp., a water company. A small chunk of that write-off, about $35 million, was attributed to ending certain LJM2-related transactions. That termination also produced a $1.2 billion reduction in Enron shareholder equity as the company decided to repurchase 55 million shares that had been part of LJM2 deals.
At 4 p.m. in New York Stock Exchange composite trading, Enron was down 9.9%, or $3.20, to $29 a share. Within the past year, the stock had topped $80 a share.
Enron officials didn't have any comment about the LJM2 partnership document. Enron has consistently said its dealings with LJM2 have been proper. They said the LJM2 deals, like ones done with other parties, were aimed at helping hedge against fluctuating market values of its assets and adding sources of capital.
Mr. Fastow has declined several requests for an interview about LJM2. In late July, he formally severed his ties with LJM2, as a result of what Enron officials said was growing unease by Wall Street analysts and major shareholders. Mr. Fastow has been finance chief of Enron since 1997 and has been with the firm 11 years, which included extensive work setting up and managing company investments.
Michael Kopper, a former Enron executive who an Enron spokesman said is now helping to operate LJM2, declined to comment. He also wouldn't describe his relation to LJM2.
In his April 30 report, Mr. Fastow said the partnership, which raised $394 million, had invested in several Enron-related deals involving power plants and other assets as well as company stock. The document said LJM2 sought a 29% internal rate of return. That was down from a 48% targeted rate of return at the end of 2000, which the document said was due in part to a decline in the value of LJM2's investment in New Power Co., an Enron-related energy retailer. In some transactions, LJM2 did much better than the 29% target, though this sometimes involved renegotiating individual deals.
In September 2000, the partnership invested $30 million in "Raptor III," which involved writing put options committing LJM2 to buy Enron stock at a set price for six months. Four months into this deal, LJM2 approached Enron to settle the investment early, "causing LJM2 to receive its $30 million capital invested plus $10.5 million in profit," the report said. The renegotiation was before a decline in Enron's stock price, which could have forced LJM2 to buy Enron shares at a loss of as much as $8 each, the document indicated.

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

Enron CFO Profited From Partnerships With Company, WSJ Reports
2001-10-19 01:00 (New York)

     Houston, Oct. 18 (Bloomberg) -- Enron Corp.'s Chief Financial
Officer Andrew Fastow realized profits through a limited
partnership that did business with Enron, the Wall Street Journal
reported, citing an internal partnership document.

     LJM2 Co-Investment LP, of which Fastow is a general partner,
made millions of dollars on transactions with Enron, the paper
said. Fastow and possibly a handful of partnership associates made
$7 million last year in management fees and about $4 million in
capital increases on an investment of about $3 million in the
partnership, the paper said.

     Enron shareholder Fred Greenberg filed a lawsuit yesterday,
alleging that Enron's board cost the company at least $35 million
by allowing Fastow to manage partnerships that bought Enron
assets. Enron reported $1.01 billion in third-quarter losses from
failed investments.

The Five Dumbest Things on Wall Street This Week
By K.C. Swanson <mailto:kcswanson@thestreet.com>
Staff Reporter
TheStreet.com
10/19/2001 06:59 AM EDT
URL: <http://www.thestreet.com/markets/dumbest/10002661.html>

1. Bayer Fighting the Bears?
One beneficiary of the anthrax scare has been Bayer AG (BAYZY:OTC BB ADR - news - commentary) , the German chemical maker, which has seen its share price gain 10.4% since the terrorist attacks. But investors bidding up the stock might be getting ahead of themselves.
Bayer makes Cipro, a leading treatment for anthrax. But while the demand for Cipro is high, sales from the drug are only a small portion of the company's overall revenue, which totaled 30.9 billion euros last year (and, according to analysts, will increase even more this year, due to its acquisition of Aventis CropScience, a crop protection and production company). To put the demand for Cipro in context, J.P. Morgan expects U.S. sales of the drug to be approximately 1.2 billion euros for 2001.
Even emergency purchases of Cipro probably won't add that much to Bayer's overall revenues. The president has asked for $643 million for antibiotics to combat bioterrorist attacks. While it's possible that sum will be increased, not all the money would be spent on Cipro.
Besides, it's not even clear that Bayer will remain the only producer of Cipro. Though the company holds the patent for the drug, there's some pressure in Congress for the government to purchase a generic version from other manufacturers.
On another front, Bayer is currently battling a class-action lawsuit related to an anti-cholesterol drug implicated in a number of deaths. It was forced to withdraw the drug from the market.
Bayer may offer protection against anthrax, but that doesn't mean it's a refuge for investors.
2. Losses at Twice the Price
You know things are bad for a company when its losses per share are double the price of the shares themselves. That's the case for i2 Technologies (ITWO:Nasdaq - news - commentary) , the supply-chain software maker. After market close on Tuesday, the company posted losses under generally accepted accounting principles that amounted to $5.5 billion, or $13.25 per share, for the latest quarter, including all charges.
In other words, i2's losses were more than twice the value of its share price, which closed at $5.69 before the announcement.
Much of the huge writedown reflects amortized goodwill from the purchase of Aspect Development in March 2000.
To be fair, investors in companies that have made big acquisitions like i2 typically focus on pro forma earnings, which exclude charges and extraordinary items. By that measure, i2's losses didn't look quite so bad: The company met analysts' consensus expectations with a loss of $55.3 million, or 13 cents per share.
Still, investors met i2's earnings with disapproval, knocking the stock down 25% the day after they were reported.
3. Microsoft's Bag of Tricks
In times like these, there's comfort in knowing business goes on as usual at many U.S. companies. Just like the old days, Microsoft (MSFT:Nasdaq - news - commentary) is in the hot seat for its sharklike behavior toward a competitor.
It stands accused of sending 3,000 fake cereal boxes emblazoned with the words "Microsoft Server Crunch" to customers of rival server software maker Novell. The boxes, according to Novell, contained "a number of false and misleading statements" intended as putdowns of Novell products.
Among the attempted insults were some not-so-clever plays on packaged food. For example, in a reference to Novell's flagship software product, a line on the Microsoft boxes read: "What's the expiration date on that NetWare platform?" (A round of applause, please, for those gut-splittingly funny engineers.)
The boxes also said Novell is shifting its focus from software to consulting services, which Novell says isn't true.
Microsoft spokesman Jim Desler said the cereal boxes were primarily intended to advertise Microsoft services, not to slight Novell. "It was all in the theme of a mock cereal box," he said. "It was a modest campaign."
In response to Novell's complaints, he says Microsoft sent out a letter in September to recipients of the boxes to clarify some of its statements, and it's just agreed to send another letter to appease the company. For the record, Novell said it's not calling off its lawsuit for unspecified money damages.
4. AMD's Feisty Pledge
CEOs don't get their jobs by being eloquent, and it probably would be too much to expect them to sound statesmanlike. But sometimes their oratorical rough edges cross the line into embarrassing.
Case in point: Comments from Jerry Sanders, the CEO of Advanced Micro Devices (AMD:NYSE - news - commentary) , which earlier this week reported a loss for the first time in almost three years. The company, facing harsh pricing competition from Intel (INTC:Nasdaq - news - commentary) , said its revenue was down 22% from a year ago and it expects a likely operating loss for the fourth quarter.
Given recent declines in consumer confidence, the downturn is likely to be extended by several quarters, Sanders admitted. But in a conference call, he indulged in some spirited fist-shaking. Citing the company's so-called "Hammer" architecture for processors, Sanders declared, "We feel that when the upturn comes, we're going to kick ---."
Does this guy carry around a surfboard in his car or what? Mr. Sanders, meet Mr. Reeves.
OK, so we actually kind of admire Sanders' never-capitulate spirit. But his comment seems a little redundant, because just about everybody will look better when the economy turns around. Because that may not be anytime soon, what matters is how companies weather the interim -- feisty pledges notwithstanding.
5. Enron's Rabbit-From-a-Hat Style
Analysts have complained for some time about Enron's (ENE:NYSE - news - commentary) rabbit-from-a-hat style accounting, with which the company produced results that wowed investors without making it quite clear where they came from. Now that its business has taken a sour turn, that tendency has gotten even more unsettling.
To cap off its disappointing earnings results this week -- Enron posted a steep loss after taking a $1.01 billion charge -- the company let drop that its shareholder equity had decreased by $1.2 billion.
In a conference call, CEO Kenneth Lay attributed the reduction in equity to the "removal of an obligation to issue a number of shares." According to a report in The Wall Street Journal, Enron repurchased 55 million shares issued through a series of transactions involving LJM Capital, a partnership that until recently was headed up by Enron's CFO.
TSC's Peter Eavis has written that it appears Enron lent LJM money to buy Enron stock.
Ironically, the company boasted in its earnings release this week that it had expanded reporting of its financial results, presumably to quiet its accounting critics.
Enron's transactions have been so labyrinthine that it's hard to identify exactly if or how they were inappropriate. But the latest revelation, to say the least, does nothing to bolster the company's credibility. Enron, whose CEO resigned unexpectedly in August, had seen its stock fall 59% for the year leading up to its latest earnings release. Since then, it's dropped another 12.6%

The New Power Company Revises Its Netting Agreement With Enron; Provides For Receivables and Inventory Financing

10/19/2001
Business Wire
(Copyright (c) 2001, Business Wire)

PURCHASE, N.Y.--(BUSINESS WIRE)--Oct. 19, 2001--The New Power Company ("NewPower"), a wholly owned subsidiary of NewPower Holdings, Inc. (NYSE: NPW) today filed a Form 8-K with the Securities and Exchange Commission reporting that it has revised its master netting agreement with Enron North America Corp., Enron Energy Services, Inc., and Enron Power Marketing, Inc. (together, the "Enron Subsidiaries").
The amendment affects the Master Cross-Product Netting, Setoff, and Security Agreement (the "Master Netting Agreement") among NewPower and the Enron Subsidiaries, and expands through January 4, 2002, the types of collateral that NewPower is permitted to post to the Enron Subsidiaries.
The effect of the amendment is to reduce, through January 4, 2002, the amount of cash collateral that NewPower is required to post to the Enron Subsidiaries. Under the amended Master Netting Agreement, the first $70 million of posted collateral must be in the form of cash, while amounts in excess of $70 million may consist of not more than $40 million of eligible receivables and inventory of NewPower, valued at discounts specified in the amendment, and subject to a $25 million limit for October 2001. Pledging receivables and inventory is consistent with NewPower's previously announced intention to secure asset-backed financing.
With the amendment and NewPower's cost reduction efforts, and absent a similar rate of decline in commodity prices or other significant events, NewPower believes that it has sufficient financial resources to conduct its business until it secures ongoing asset-backed financing, which will be necessary upon the expiration of the amendment. NewPower has been and is actively seeking to arrange asset-backed financing with other parties, although to date no such arrangements have been secured.
The Company expects to meet its previous estimate of net loss and loss per basic and diluted share for the third quarter ended September 30, 2001. However, customer count and revenues are expected to be slightly lower than previously forecast.
The Company will provide revised guidance for the fourth quarter 2001 and an outlook for 2002 on its third quarter conference call scheduled for Thursday, November 8.

Cautionary Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties and may differ materially from actual future events or results. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our goals will be achieved. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Important factors that could cause actual results to differ from estimates or projections contained in the forward-looking statements include our limited operating history; delays or changes in the rules for the restructuring of the electric and natural gas markets; our ability to attract and retain customers; our ability to manage our energy requirements and sell energy at a sufficient margin given the volatility in prices for electricity and natural gas; the effect of commodity volatility on collateral requirements and liquidity; our dependence on third parties to provide critical functions to us and to our customers; and conditions of the capital markets affecting the availability of capital. Readers are referred to the Company's Annual Report on Form 10-K for the year ending December 31, 2000 and our Registration Statement on Form S-1 (No. 333.41412) on file with the Securities and Exchange Commission for a discussion of factors that could cause actual results to differ materially from these forward-looking statements.

About NewPower Holdings, Inc.

NewPower Holdings, Inc. (NYSE: NPW), through its subsidiary, The New Power Company, is the first national provider of electricity and natural gas to residential and small commercial customers in the United States. The Company offers consumers in restructured retail energy markets competitive energy prices, pricing choices, improved customer service and other innovative products, services and incentives.

CONTACT: The New Power Company Investors Kathryn Corbally, 914/697-2444 Kathryn.Corbally@newpower.com Patrick McCoy, 914/697-2431 Manager, Investor Relations pmccoy@newpower.com Media Gael Doar, 914/697-2451 gdoar@newpower.com Terri Cohen, 914/697-2457 Terri.Cohen@newpower.com
08:32 EDT OCTOBER 19, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

LOBBYING
K Street's Top 10: The Shifting Lineup
Shawn Zeller

10/20/2001
National Journal
Copyright 2001 by National Journal Group Inc. All rights reserved.

How do the Washington lobbying firms with the heftiest incomes put themselves in the upper echelon of K Street practitioners? Van Scoyoc Associates Inc. does it by signing up a stable of smaller clients and working hard to retain them. Quinn Gillespie & Associates doesn't have a long client list, but it is at the top of the heap in terms of average fee per client. Greenberg Traurig, meanwhile, lured away a rival firm's top rainmaker-and his lucrative book of clients.
These are just some of the business strategies revealed in National Journal's survey of the 10 Washington lobbying firms with the highest fee income from January 1 to June 30. The four top firms at midyear 2001 are the same ones as a year earlier: perennial powerhouses Cassidy & Associates Inc.; Patton Boggs; Akin, Gump, Strauss, Hauer & Feld; and Verner, Liipfert, Bernhard, McPherson and Hand.
But two new players-boasting huge growth rates-are among the firms nipping at the heels of these top dogs.
Greenberg Traurig, which came in at No. 5 in National Journal's midyear 2001 rankings, had never before been in the top tier of Washington lobbying firms. According to PoliticalMoneyLine, which compiles a comprehensive annual list of all lobbying firms, Greenberg Traurig had the 35th-highest income during the first six months of last year.
And No. 7 in the midyear 2001 rankings is Quinn Gillespie, another first-time member of the top 10. Formed just a year and a half ago by former Clinton White House Counsel Jack Quinn and Ed Gillespie-a one-time adviser to House Majority Leader Dick Armey, R-Texas-the firm has seen its fortunes rocket upward. Quinn Gillespie was No. 13 in the first six months of 2000.
In between these two newcomers is Van Scoyoc Associates, ranked at No. 6. There has been a steady rise for Van Scoyoc, which was No. 28 in fee income at the end of 1996, the year in which the 1995 Lobbying Disclosure Act first took effect.
Rounding out the top 10 at midyear 2001 are stalwarts Williams & Jensen; Washington Council Ernst & Young; and Barbour Griffith & Rogers.
National Journal ranks the top-10 lobbying firms every six months by tallying the fees that firms report to the House and Senate as required under the 1995 legislation. National Journal tabulates total fees for only the 25 top firms in PoliticalMoneyLine's comprehensive annual survey.
With its $16.68 million in fees for the first six months of the year, Cassidy & Associates continued to blow away the competition. The last time any firm reported a six-month total larger than Cassidy's was during the first half of 1998, when Verner, Liipfert led the way. During the first six months of this year, Cassidy & Associates received a massive fee of $1 million from the Taiwan Studies Institute, a think tank with close ties to the Taiwanese government; Boeing Co. paid Cassidy & Associates $600,000; and Tiffany & Co. paid it $400,000 to lobby on legislation that would bar diamonds mined in conflict-ridden areas of the world from entering the global market.
Despite the economic downturn and the terrorist threat, lobbying goes on, company Chairman Gerald S.J. Cassidy said. "During difficult times, people come to Washington with their problems. During more-robust times, they come seeking opportunities."
But the biggest story at midyear was the rise of Greenberg Traurig. The firm, which posted just $1.71 million in lobbying fees during the first half of 2000, saw that amount more than quadruple to nearly $8.7 million this year. Much of the credit goes to Jack Abramoff, the conservative K Street mover and shaker who is an ally of House Majority Whip Tom DeLay, R-Texas. Last year, Abramoff left his old firm, Preston Gates Ellis & Rouvelas Meeds, and brought $3 million in business with him to Greenberg Traurig. Preston Gates, which was ranked in the top five during Abramoff's tenure, dropped out of National Journal's rankings this year. The lobbying firm's fees fell by nearly 50 percent.
Abramoff continued to make rain at Greenberg Traurig, billing $860,000 to the Mississippi Band of Choctaw Indians, $500,000 to the Commonwealth of the Northern Mariana Islands, and $300,000 to garment manufacturers that operate in that U.S. territory. A few new clients also forked over big bucks: the Coushatta Tribe of Louisiana ($440,000); Voor Huisen Project Management, a homebuilder with international operations ($300,000); and the American International Center ($100,000). Despite initial concerns among some Greenberg Traurig partners about whether Abramoff would fit in, Abramoff insists that his team of lobbyists has been "totally integrated" into the firm.
But Abramoff wasn't the only one responsible for Greenberg Traurig's higher earnings. Ronald W. Kleinman, a former State Department lawyer, persuaded Congress with the help of several Greenberg Traurig colleagues to pass Section 2002 of the 2000 Victims of Trafficking and Violence Protection Act. This section of the law ordered the Treasury Secretary to use Cuban government funds that are frozen in U.S. banks to compensate the families of three men who had won multimillion-dollar judgments against Cuba under a 1996 amendment to the Foreign Sovereignty Immunities Act. The amendment allows victims of terrorism or their families to sue states that are on the U.S. list of state sponsors of terrorism.
Greenberg Traurig represented the families of Armando Alejandre, Carlos Alberto Costa, and Mario M. de la Pena-three members of Brothers to the Rescue, a Cuban-American group that rescues Cubans in the waters off Florida. The three men died when their plane was shot down over international waters on February 24, 1996. The families sued Cuba and were awarded $96.7 million in damages by a U.S. District Court judge in 1997. The State Department opposed payment, but President Clinton signed the trafficking bill. Greenberg Traurig reported a fee of $4 million.
Fred W. Baggett, the chair of Greenberg Traurig's governmental practice group, said this was a one-time fee, but he added that the Cuban case "established a platform so that the firm can support undertaking those one-time efforts in the future," and noted, "We have a few coming down the pipeline."
Baggett said the firm has cases involving an American killed in Jerusalem by the Palestinian group Hamas, and Americans who were used as human shields in Iraq during the Persian Gulf War. None of the Americans was killed, and all were eventually released.
Taking the flip side of the mega-fee approach was Van Scoyoc Associates, which reported receiving no fee above $180,000. Nonetheless, the firm continued its steady rise. A key reason, said firm President H. Stewart Van Scoyoc, was the ability to recruit and retain clients. The firm signed up 34 clients between January 1 and June 30, while only nine out of 159 clients terminated contracts during the period.
"We work hard at defining the relationship with a client before we sign a contract," said Van Scoyoc. "We make sure we're clear on the goals and objectives, and in a typical relationship, we don't guarantee that we can do everything." The firm's $6.24 million total for the first half of 2001 was 23 percent higher than its fees for the same period last year.
Quinn Gillespie's ascent into the top 10 was more along the lines of Greenberg Traurig's. Quinn Gillespie's billings were almost $6.09 million at midyear 2001, a 71 percent rise over the same period last year. The firm has only 34 paying clients, but the average fee per client-$180,000-is the highest among the top 10. During the six months, the British Columbia Lumber Trade Council paid a fee of $540,000 to Quinn Gillespie, while Enron Corp. paid $525,000. The Canadian group hoped its high-powered lobbyists would win greater access for Canadian lumber in the United States, but U.S. tariffs were reinstated earlier this year. Lobbying for Enron focused on energy deregulation, particularly in California. Enron is a major creditor of Southern California Edison, the utility whose financial woes resulted in power shortages in California last summer.
Quinn Gillespie's staff has grown from nine at the time of the founding to nearly 30 today. "We like to think we have a toolbox here-people who may be Republicans or Democrats but who also have different skills that benefit the client," Quinn said.
Patton Boggs had fees of $10.26 million in the first six months of 2001, but that was just a 5 percent rise over the same period in 2000. Still, the firm leapfrogged over Verner, Liipfert to capture the No. 2 ranking. Patton Boggs earned $360,000 from Russia's government-owned NTV television network, which was at the center of a controversy earlier this year when the government took over the independent network and ousted its staff.
Akin, Gump also jumped past Verner, Liipfert to No. 3 in the rankings, posting $9.48 million in fees-a 16 percent increase over a year earlier. Akin, Gump's biggest client was the troubled tire manufacturer Bridgestone/Firestone Inc., which paid just over $1.5 million in fees. Akin, Gump also earned big money from AT&T ($800,000) and the Gila River Indian Community ($620,000).
At No. 4, Verner, Liipfert saw the biggest drop in fees, taking in $8.84 million in the first six months of 2001-down 16 percent from the same period in 2000. Verner, Liipfert lost lucrative contracts with Puerto Rico after the government there changed hands last year. (See this issue, p. 3273.)
Rounding out the top-10 rankings, Williams & Jensen at No. 8 billed $5.68 million, a 12 percent increase over the first half of 2000, while Washington Council Ernst & Young saw its fees drop 11 percent to $5.5 million. The firm fell four places to No. 9 in the rankings. Barbour Griffith & Rogers's fee income was up 7 percent to $5.48 million, putting the firm at No. 10.
Falling out of the midyear top-10 rankings were Preston Gates-No. 6 at midyear 2000-and PricewaterhouseCoopers, No. 7 last year. PricewaterhouseCoopers's billings were $5 million for the period, a 6 percent drop from the first half of 2000.

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

Oct. 19, 2001
Houston Chronicle
Houston entrepreneurs added to Texas Business Hall of Fame
By TOM FOWLER
Copyright 2001 Houston Chronicle
The Texas Business Hall of Fame's annual awards ceremony Thursday night honored four Houston business leaders.
The event at the George R. Brown Convention Center put the spotlight on Weingarten Realty Investors Chairman Stanford Alexander; Compaq Computer founder and former Chief Executive Officer Rod Canion; retired Reliant Energy Chairman and CEO Don Jordan; and Dynegy Chairman and CEO Chuck Watson.
This is the 19th year the nonprofit Texas Business Hall of Fame Foundation has honored the state's business leaders with a dinner and induction event.
As chairman of Weingarten Realty Investors, Stanford Alexander built the company into one of the nation's largest publicly traded real estate companies.
After serving in the U.S. Air Force, Alexander joined J. Weingarten, a Houston-based chain of 87 supermarkets. He later became an executive with Weingarten Markets Realty Co., an affiliated real estate firm that developed free-standing supermarket stores.
The firm later changed its name to Weingarten Realty. The Houston-based company is now publicly traded on the New York Stock Exchange.
Weingarten owns shopping centers, warehouses and other property in 17 states from coast to coast.
Weingarten's notable developments in Houston include the upscale Village Arcade near Rice University and the Centre at Post Oak, across from the Galleria.
Rod Canion came up with the idea behind Compaq in 1982 after a trip to a local ComputerLand store. Along with colleagues from Texas Instruments, Jim Harris and industrial designer Ted Papajohn, Canion envisioned a portable computer that ran all the programs that operated on the IBM PC.
By the next year, the company was producing the original Compaq luggable computer, a move that essentially created the modern PC industry. By 1987, its fifth year, the company made business history by breaking $1 billion in sales, the fastest pace ever for a corporate startup.
Canion left Compaq in October 1991 but continued to be active in other ventures. In 1992, he founded Insource Technology Group, a consulting services and network engineering firm, and continues to serve as chairman.
Don Jordan has been in the forefront of Houston business and society for decades. And even though he retired from the post of chairman and chief executive at Reliant Energy in late 1999, he has remained active in the city's growth and development.
Jordan was with Reliant and its predecessor Houston Industries for 44 years and helped position the company for its eventual split between the company's regulated businesses, such as HL&P and Entex, and unregulated business that is now called Reliant Resources.
Jordan, along with his corporate rival Ken Lay of Enron, was instrumental in the successful campaign last year to convince voters to approve the use of public funds to build a new arena downtown for the Houston Rockets.
Jordan has spent a lot of time on the Houston Livestock Show & Rodeo board and many other civic groups.
Chuck Watson has built Dynegy into one of Houston's leading energy companies, but he is more well-known for his forays into the world of sports.
Watson established NGC Corp., Dynegy's predecessor, in 1985 and served as president until becoming chairman and chief executive officer in 1989.
Recently Watson was revealed to be the largest investor in the limited partnership assembled to put together the Texans, Houston's National Football League franchise. It begins playing next year.
Watson also owns the Aeros, Houston's American Hockey League team.
Watson's support was also pivotal to getting voters last year to approve the use of public funds for the new downtown arena. Watson had opposed an earlier deal to use public money to build the facility.
Watson has also been a strong supporter of Houston's bid to land the 2012 Olympic Games.
To date, the foundation has awarded more than $1.8 million in scholarships to students pursuing business degree at Texas colleges and universities.

Recession, Budget Cuts, Travel Fears To Subdue LME Week
By Mark Long
Of DOW JONES NEWSWIRES

10/19/2001
Dow Jones Commodities Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LONDON -(Dow Jones)- The many travails of the metals industry will dampen the spirits of those who make it to the annual round of meetings and parties at London Metal Exchange Week, which starts Monday.
In what is expected to be a much smaller group of delegates than usual, conversations will be dominated by fears of global recession smothering already-lousy demand, the increasingly pressing need for production cuts, and the exit of several important participants from the metals business.
Cuts in companies' travel budgets and fears of flying are keeping many of the usual attendees away from London this year, dealers and analysts said.
"Sentiment is going to be bearish, and we've just heard in the past few days of people who were previously going to come along not coming, largely on their companies' advice," said Adam Rowley, an analyst at MacQuarie Bank in London.
Indeed, a representative at another major bank said fully half of the guests expected at its satellite activities have canceled.
Forecasts for base metals demand and average prices have been widely revised downward in the past few weeks, particularly since the impact of the Sept. 11 terror attacks accelerated the world economic slowdown.
Just this week, Standard Bank ratcheted its expectations lower, with LME cash copper - a bellwether for the complex that's especially sensitive to industrial productivity - seen at $1,350 a metric ton in December 2001, down from an actual year-to-date average in 2001 of $1,619/ton.
Producers are reluctant to cut copper output, and declining Chinese imports and weak demand in the west mean there is still further downside potential for copper, Standard Bank analyst Robin Bhar said.
With demand for base metals slumping so sharply, eyes have been turning to the producers to make moves on the supply side.
In copper, analysts say U.S. producers are the most likely to cut back, as the recent strength in the dollar hits their bottom line the hardest. However, a recent slump in energy prices has kept the wolves from the door so far for some producers in an industry that's energy-intensive.
Elsewhere, zinc is suffering from a supply glut that recently pressured the LME three-month price to a 17-year low of $766 a metric ton.
The troubles of Australian zinc producer Pasminco Ltd. (A.PAS) will surely be a hot topic, following the company's move to voluntary administration due to its large debt load, dealers said.
But aside from all the market concerns, the most worrisome topic will likely be the recent succession of companies bailing out of or reducing their commitment to the metals business, market participants said.
In the past week, N.M. Rothschild & Sons Ltd. quit the base metals business and ScotiaMocatta - the metals trading arm of the Bank of Nova Scotia (T.BNS) - removed itself from open-outcry ring trade at the LME. Earlier this month, Enron Metals said it would cut staff by 10%-20% in Europe, and all these moves follow Mitsui Bussan Commodities Ltd. ditching its market-making activities in the metals business earlier this year.
Who's next?
"It could be anyone," is the refrain from nearly all market participants surveyed.
-By Mark Long, Dow Jones Newswires; +44 (0)20 7842 9356; mark.long@dowjones.com

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

HC to hear DPC's plea

10/19/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

MUMBAI: The Bombay high court will, on December 11, begin hearing a petition filed by Enron-promoted Dhabol Power Company (DPC), challenging the jurisdiction of the Maharashtra Electricity Regulatory Commission (MERC) to adjudicate the US-based multinational's dispute with Maharashtra State Electricity Board (MSEB).
A division bench headed by Justice Ajit Shah decided to hear the matter at a stretch for a week beginning from December 11. The court permitted MERC members P. Subrahmanyam and Venkat Chary to be impleaded as respondents. They have been asked to file affidavits by November 9.
The multinational power giant had levelled certain allegations of bias against an MERC member Jayant Deo. Mr Deo urged the court that he would like to recluse himself from the proceedings.
DPC was allowed to amend its main petition in view of the allegations levelled against Mr Deo and were asked to amend it within week.
In his affidavit replying to allegations of bias by the DPC, Mr Deo said he was neutral in his stand as a MERC member.
The court has made it clear that when the hearing in the case commences, two intervening parties, US Exim Bank and a consortium of 11 offshore lenders of DPC would not be allowed to make any pleadings. The court, however, said they would be permitted to assist the court by making oral submissions.

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


---------------------- Forwarded by Eric Bass/HOU/ECT on 09/05/2000 02:56 PM
---------------------------

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/05/2000 01:42:17 PM
To: jason <jason.bass2@compaq.com>
cc: eric preston bass <Eric.Bass@enron.com>
Subject: Fw: How to impress a client.

----- Original Message -----
From: "Frank Marsters" <marstersco@earthlink.net>
To: "Russ Mathews" <revmathews@aol.com>; "Rocky Lane" <rlane@pdq.net>;
"Harris, Mary S." <mharris-hudson@WCITX.COM>; "dholley"
<dholley@mail.ev1.net>; "Day, Pam" <pkjday@yahoo.com>; "Bass, Larry"
<lwbthemarine@bigplanet.com>; "Balch, Dell" <dellbalch@hotmail.com>; "Adams,
George" <geoins@flash.net>
Sent: Tuesday, September 05, 2000 1:20 PM
Subject: Fw: How to impress a client.

>
> ----- Original Message -----
> From: fred williams <pilgrim@gvec.net>
> To: frank marsters <marstersco@earthlink.net>; mike williams
> <mwwilliams@tomball.isd.esc4.net>
> Sent: Thursday, August 31, 2000 8:20 PM
> Subject: FW: How to impress a client.
>
>
> >
> >
> > -----Original Message-----
> > From: Calvin Waller [mailto:candk@gvec.net]
> > Sent: Thursday, August 31, 2000 7:27 PM
> > To: Fred Williams
> > Subject: Fw: How to impress a client.
> >
> >
> >
> > -----Original Message-----
> > From: BONNIE VERNOR <vernorb@gvec.net>
> > To: kathy waller <candk@gvec.net>
> > Date: Wednesday, August 30, 2000 2:20 PM
> > Subject: Fw: How to impress a client.
> >
> >
> > >
> > >----- Original Message -----
> > >From: "Ross Smith" <smith856@intergate.com>
> > >To: "Bonnie Vernor" <vernorb@gvec.net>; "Cindy Smith"
> > ><constmst@intergate.com>; "Crockett TM (Trudy)" <crocketm@ucarb.com>;
> "Don
> > >Cotter" <donone@wt.net>; "John Phillips" <jpandjp@gateway.net>;
"Kristie
> > >Boudreaux" <krisboo@prodigy.net>; "Wes Risinger" <risinger@pdq.net>
> > >Sent: Wednesday, August 30, 2000 11:43 AM
> > >Subject: How to impress a client.
> > >
> > >
> > >> Subject: Fw: How To Impress a Client
> > >> > >  >
> > >> > >  >
> > >> > >  >
> > >> > >  > I was in the VIP lounge last week en route to Seattle. Whilst
in
> > >> the
> > >> > >  > lounge, I noticed Bill Gates sitting on the chesterfield
> enjoying
> > >> a
> > >> > >  > cognac. I was meeting with a very important client who was
also
> > >> > flying
> > >> > to
> > >> > >  > Seattle with me but she was running a bit late. Being a
forward
> > >> type
> > >> > of
> > >> > >  > guy, I approached Mr. Gates and introduced myself. I explained
> to
> > >> him
> > >> > > that
> > >> > > I
> > >> > >  > was conducting some very important business and how I would
> > >> > appreciate
> > >> > it
> > >> > >  > if he could throw a quick  "Hello Chris" at me when I was with
> my
> > >>
> > >> > client.
> > >> > >  > He agreed. Ten minutes later while I was conversing with my
> > >> client, I
> > >> > >  > felt a tap on my shoulder. It was Bill Gates. I turned around
> and
> > >>
> > >> > looked
> > >> > >  > up at him. He said, "Hi Chris, what's happening?" To which I
> > >> replied
> > >> > >  > "Fuck off Gates, I'm in a meeting"
> > >>
> > >
> >
> >
>


Enron opens an office in Japan.  Get the details in eBiz.

Also in this issue:
FERC suggests overhaul for California
ENA's focus on upstream services
Cyber Cafe in Dabhol

It's all in the latest eBiz.  Go to home.enron.com, click Publications, then
click eBiz, and "eBiz November 3, 2000."


I guess you won't be taking me out for a cheeseburger this evening will you ?


greg:
what is the (correct) formula you devised for profitability on last trade is
mid?


Start Date: 1/11/02; HourAhead hour: 12;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011112.txt


I just spoke live with Mark about the case write-up.? Hope the following
works for everyone.?

I will take a shot at comparing the following for questions (a) and (b):

(1) Home Depot's strategy (low margin, high turnover, high service, best
quality products) with their financial ratios.
(2) Home Depot's strategy with Hechinger's (upscale stores with high profit
margins) by comparing their financial ratios.

(Understand that I have not had the benefit of attending the last two
classes, but hope to watch them on video tape before I send out my answers.)

Mark has already addressed question (c), we just need to make clear in the
memo the assumptions he used.? Mark - perhaps you could write those up so we
can drop them into the memo?

The other big issue is with Home Depot's expansion strategy - should they
continue to build the 9 new stores, and if so, how should they finance the
expansion?? They could use their line of credit or go to the equity market.?
Obviously with the line of credit we need to make sure that they can cover
the interest expense and with the equity market we need to be careful of
their depressed stock price.? Can someone else volunteer to look at the
expansion efforts and financing (question d)?

I am going to work on this today and hope to e-mail it out by 9am tomorrow.?
Can we set a time on Wednesday to discuss this live??

- Carolyn

Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA? 94105

phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com

-----Original Message-----
From: Mark Guinney [mailto:Mark_Guinney@watsonwyatt.com]
Sent: Monday, February 05, 2001 5:36 PM
To: Vavrek; Carolyn (US - San Francisco); chin@haas.berkeley.edu;
sama@haas.berkeley.edu; Jeff.Dasovich@enron.com
Subject: Home Depot Spreadsheet (revised)

Jeff was kind enough to show me where to get the additional balance sheet
items
I needed to finish the financial ratio time sheet analysis (I missed the
selected financial statement table).? Please see the revised spreadsheet that
has both the financial ratios and the pro forma cash flow statement for the
next
fiscal year.

?

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA? 94104
(415) 733-4487 ph.
(415) 733-4190 fax

This message (including any attachments) contains confidential information
intended for a specific individual and purpose, and is protected by law.? If
you are not the intended recipient, you should delete this message and are
hereby notified that any disclosure, copying, or distribution of this
message, or the taking of any action based on it, is strictly prohibited.


(See attached file: International Perspective.pdf)

      Carr Futures
      150 S. Wacker Dr., Suite 1500
      Chicago, IL 60606  USA
      Tel:  312-368-6149
      Fax:  312-368-2281
      soblander@carrfut.com
      http://www.carrfut.com
 - International Perspective.pdf


Hey Jeff,

Sorry it took me so long to write.  I haven't actually
used my e-mail in about 2 months, but I'm trying to
turn over a new leaf.

Freak show, huh?  What's been going on?

Happy Belated Birthday.  Again, I'm so sorry I didn't
call you on the day.  I'm quite scattered now with
being a Mom and working 3 days a week.

Maddie is doing great.  She's 8 and 1/2 months now,
crawling up a storm, pulling herself up, drinking from
a straw, waving goodbye, and even dancing.  She's
still a pain in the ass at night however, waking up
2-4 times.  UUUGH!

I'd love to talk to you.  Here's my info AGAIN!
Nicole Lesser
37 Grant Street
W. Newton, MA 02465
617-243-0225

Love you, Nicole

__________________________________________________
Do You Yahoo!?
Send instant messages & get email alerts with Yahoo! Messenger.
http://im.yahoo.com/


Yes.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Friday, June 07, 2002 1:33 PM
To:	McMichael Jr., Ed
Cc:	Polsky, Phil; Doner, Max; Concannon, Ruth; Germany, Chris
Subject:	FW: Dominion prepay for City of Tallahassee deal for March 2002

Ed,

There was an outage on MOPS in Feb 2002 that impacted how much gas ENA received from Dominion (Louis Dreyfus deal #30468).  We paid Dominion for 100,000 dth and we invoiced Tallahassee for 100,000 dth.   After the month was over, we discovered that we actually received 104,793 dth.  We billed Tallahassee for the incremental volume and they paid for it.  Is it ok to generate a payment to Dominion for the additional volumes [$10,334.67 = 4,793 dth x $2.1562].  Tallahassee paid us $14,570.72 for the gas [4,793 x $3.04].

If yes, I would like to have Phil show the payment of $10,334.67 to be made next Friday while I work on the cash request.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, March 25, 2002 10:06 AM
To:	Hamic, Priscilla; Dhont, Margaret
Cc:	Polsky, Phil; Boyt, Eric; Sanchez, Christina; McMichael Jr., Ed; Parks, Joe; Dinari, Sabra L.; Germany, Chris
Subject:	FW: Dominion prepay for City of Tallahassee deal for March 2002

Per David Walker at Dominion - for February, his supplier said we received 104,793 dth.  Using my calculation down below, we paid Dominion (and billed Tallahassee) for 100,000 dth.  I would like to verify that Tallahassee received 104,793 dth, then bill Tallahassee for the additional 4,793 dth and pay Dominion for the same amount.

Please let me know if you have any questions.
thx

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, February 26, 2002 11:03 AM
To:	Hamic, Priscilla
Subject:	FW: Dominion prepay for City of Tallahassee deal for March 2002

 << File: Dominion Prepay (1.29.02 for $603,736)_update.doc >>

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, February 25, 2002 3:40 PM
To:	Sewell, Doug; Dhont, Margaret; Hamic, Priscilla
Cc:	Polsky, Phil; Boyt, Eric; McMichael Jr., Ed; Barbe, Robin
Subject:	RE: Dominion prepay for City of Tallahassee deal for March 2002

I just went over the March prepayment with David Walker (405-749-5240) at Dominion.  On Thursday, ENA will wire $280,306.00 to Dominion.  The Force Majeure event has ended and Dominion will resume deliveries effective 2/26/02.  We are assuming Dominion did not deliver any gas for Feb 8th through Feb 25th, 18 days.  Following are my calculations

	Prepay for March 2002			10,000 dth per day x 31 days x $2.1562 = $668,422.00
	Non deliveries for Feb 2002	           10,000 dth per day x 18 days x $2.1562 = ($388,116.00)

						Amount to wire on 2/28/02 ==>		$280,306.00

There may have been some gas flow on Feb 8th, but David will let us know about that later.

Doug, do I need to prepare a new Cash Use Approval Request form?

 -----Original Message-----
From: 	Germany, Chris
Sent:	Thursday, February 21, 2002 10:58 AM
To:	Sewell, Doug; Dhont, Margaret; Hamic, Priscilla
Cc:	Polsky, Phil; Boyt, Eric; McMichael Jr., Ed; Barbe, Robin
Subject:	Dominion prepay for City of Tallahassee deal for March 2002

I'm requesting the prepay for Dominion for March 2002.  I printed out the request, signed it, and gave it to Doug.  I just want everyone to be aware of what is happening with Dominion.  Dominion is still not delivering the gas to Tallahassee due to a Force Majeure event.  We are expecting gas to flow any day, hopefully by the weekend.

Eric, I left a message for David Walker (405-749-5240) at Dominion to call me about the prepayment amount.  Following are my calculations

Prepay for March 2002		10,000 dth per day x 31 days x $2.1562 = $668,422
Non deliveries for Feb 2002	10,000 dth per day x 14 days x $2.1562 = ($301,868)

				Estimated payment due 2/28/02	               $366,554

As of today Mops has been down from Feb 8th - 21st, 14 days.  Mops may not come up until the weekend or early next week.  I will adjust the prepayment as needed next week.

 << File: Dominion Prepay (1.29.02 for $603,736)_update.doc >>


Dear Jason Wolfe,

We are happy to inform you that 1 item(s) you have won:
18 Big Russian Stalin Lenin Political Posters
(Item# 1013259638, eBay auction(s) end date: Oct-05-01)
is mailed to your address (parcel receipt #70231).
Date of shipment (postal consignment): 11/14/01.

Item is sent from: Central Post Office, Moscow, Russia.
Customary time necessary for delivery from Russia: 12-15 days.

Hope you will get item(s) in time and in good condition.

Would appreciate your notification about receiving item(s) mailed 11/14/01.
Would appreciate your positive comment in eBay feedback regarding our service too.

Should you are interested in goods of other kind(s), let us know.

Looking forward for your new purchases of goods we put on eBay auctions.

Best regards,
 Sergei                          mailto:spartcat@mtu-net.ru


I have a meeting with the customer Thursday morning, is it possible to have an answer by this afternoon??

 -----Original Message-----
From: 	Hubbard, Mary
Sent:	Tuesday, February 19, 2002 2:25 PM
To:	Hyatt, Kevin
Subject:	RE: Location Number

Kevin,

It's been a busy morning.  I'll look these up ASAP.

Mary

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Tuesday, February 19, 2002 11:12 AM
To:	Carriere, Frank; Hubbard, Mary
Subject:	RE: Location Number
Importance:	High

I found these numbers in a file, Loc Code 14039, 14225, 24008

I'm not sure what assets they are in reference to.

kh

 -----Original Message-----
From: 	Carriere, Frank
Sent:	Tuesday, February 19, 2002 8:03 AM
To:	Hyatt, Kevin
Subject:	FW: Location Number

FYI.

As I indicated in my phone message we are not finding these assets using the description provided. Judy Beck is or was the facilitiy
person for ETS. She is now Dynegy, therefore, we may get a referral instead of an answer.

 -----Original Message-----
From: 	Hubbard, Mary
Sent:	Friday, February 15, 2002 2:31 PM
To:	Carriere, Frank
Subject:	FW: Location Number

FYI
 -----Original Message-----
From: 	Hubbard, Mary
Sent:	Friday, February 15, 2002 1:02 PM
To:	'judy.d.beck@dynegy.com'
Subject:	Location Number

Judy,

I need to provide a NBV for a Gomez Laterial (35miles of 20" pipe), to Kevin Hyatt. Frank says it should be in company 0060 (TW).
I ran the following locations numbers: 44*094, 44*095, 44*149 44*34037, but found nothing in co. 0060.  Can you help?

Thanks,

Mary

I


Suite tickets are available for the game tonight, 6:30 P.M.
Please see me if you are interested.

Mollie


Due to rescheduling of meetings today, I have moved our conference call to
3:00PM (CST).  For those of you in Houston, we will be in room 4793.  Thanks.

Dial-in Number:  888/311-9051
Pass Code:  60396

Sue Nord, Sr. Director
Government Affairs
713 345-4196


Earthsat requires a password for enron, what is it ?


---------------------- Forwarded by Kayne Coulter/HOU/ECT on 01/04/2001 10:06
AM ---------------------------

	From:  Stacey W White                           01/04/2001 09:18 AM

To: Samuel Schott/HOU/ECT@ECT
cc: Jenny Latham/HOU/ECT@ECT, Kayne Coulter/HOU/ECT@ECT
Subject: Trader Access

Please assign everyone in the list below to the following trading desks:

EPMI-HRLY-SE
EPMI-HRLY-NE
EPMI-HRLY-MW
EPMI-HRLY-ERCOT

Thanks,
Stacey
---------------------- Forwarded by Stacey W White/HOU/ECT on 01/04/2001
09:20 AM ---------------------------

	From:  Kayne Coulter                           01/04/2001 09:20 AM

To: Stacey W White/HOU/ECT@ECT
cc:
Subject: 24 Hour Books

These are all the names that need to be associated with Hourly Ercot, Hourly
Midwest, Hourly Southeast, and Hourly Northeast.

Thanks
Kayne


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 12/29/99 06:56
AM ---------------------------

	Enron Capital Management

	From:  David Baumbach                           12/28/99 06:20 PM

To: Kenneth W Walther/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Brenda F
Herod/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Y2K deal

Details for the deal to be entered on Jan. 1, 2000:

Buy/Sell:  Buy
Ctpty: Aquila Energy Marketing Corporation
Zone:  Agua Dulce @ 0584
Volume:  5,000/d
Pricing:  HSC -0.065
Period:  1/8/00-1/31/00

This deal will be the second part of Sitara deal #143974.

Please let me know if there are any questions or concerns.

Dave


-----Original Message-----
From: 	Dorland, Chris
Sent:	Wednesday, January 16, 2002 1:57 PM
To:	Dorland, Dan
Cc:	Dorland, Chris
Subject:	RE: email

CHRIS'S VERSION 2

I would just like to follow up on our conversation and clarify any confusion you may have about where I stand. I have loved working for Enron over the past two years and have gained invaluable experience. I look forward to harnessing the opportunities in Ontario under the UBS banner and working with the former Enron team. Recently there have been a considerable number of companies soliciting Enron people familiar with the electricity market in Ontario. I evaluated the opportunities on the table and had come to a decision about my future, I want to stay with the team at Netco.

I communicated to Paul that I did not feel that the retail opportunity was rewarding enough to leave. He said that he would follow up with you to get back to me with more specifics on my role within Netco. It came as quite a shock to me when you mentioned my place within Netco had been compromised. I never gave Paul any commitment to join him on XYZ retail venture or empowered him to speak on my behalf! (or something to that effect)

Rob, I apologize for this confusion and truly appreciate your understanding. I realize that the experience I stand to gain, the caliber of people I will work with, the credibility or the organization I will work for and my future earning potential will be significantly higher if I stay with the team and join UBS. I am confident that I know this market as well as anyone in this office, and I will continue to work hard to add value to the new organization.

Again, thanks for your support and please accept my apologies for the any miscommunication.

Sincerely,

Dan Dorland

 -----Original Message-----
From: 	Dorland, Dan
Sent:	Wednesday, January 16, 2002 1:00 PM
To:	Dorland, Chris
Subject:	email

Rob,

I would just like to follow up on our conversation and perhaps clarify any confusion you may have about what I am thinking. First, I should say that I have loved working for Enron over the past almost two years, gained invaluable experience and sincerely looked forward to harnessing the opportunities in Ontario under that banner and team. However, as a result of the events from the past few months, there was a considerable number of companies soliciting Enron people for the opening of the electricity market in Ontario. Of course, to be prudent, I evaluated the opportunities on the table.

At the same time, I was told that I had been slotted for retention by Netco and looked forward to the opportunity to grow with that business. In retrospect, I guess I was naive to think that I could seriously evaluate retail opportunities with, on the surface, very tantalizing potential compensation and assume that my role in Netco Ontario still resides. So today, I communicated to Paul that I did not feel that the retail opportunity was rewarding enough to leave and he told me that he would follow up with you to get more specifics on what my role within Netco would look like.  So, I was somewhat shocked when you mentioned my place within Netco had been compromised.

In any event, I appologize for this confusion Rob and truly appreciate your understanding. Currently, I do have an offer from a retailer that could significantly increase my current compensation, but I came to the conclusion that the level of experience, people, network, credibility and future earning potential at Netco is at too high of an opportunity cost to leave. I am confident that I know this marketplace as well as anybody in this office, and can add substantial value to the new entity with respect to future earnings and previous activities of the Toronto office. I am also very interested in the opportunity to work in trading.

Thanks again for your support Rob and please accept my appologies for the miscommunications.

Sincerely,

Dan


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact Client Services regarding PIRA report distribution and address
changes at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that
are unsure of their licensed distribution or require an extension of
their current license should contact their PIRA sales representative, or
email to sales@pira.com.

PIRA Energy Group

 - ed010102.pdf
 - ed010102.xls


Guys:  currently the system is designed to match upstreams and downstreams
for buy/sells in contract exchange, and the scheduler would then recreate
these paths in Unify.  In my opinion this does not guarantee data integrity
between the systems.  Carrie and I have scheduled a meeting for 1:30 pm today
in 21c2 to discuss.  Please feel free to attend and give your opinions.
---------------------- Forwarded by Randall L Gay/HOU/ECT on 10/17/2000 06:35
AM ---------------------------

Carrie Slagle
10/16/2000 05:11 PM
To: Lisa Kinsey/HOU/ECT@ECT, Stacey J Brewer/HOU/ECT@ECT, Tricia
Bowen/HOU/ECT@ECT, Eddie Janzen/NA/Enron@Enron
cc: Randall L Gay/HOU/ECT@ECT, Molly Sumrow/HOU/ECT@ECT
Subject: "Auto-Pathing" Buy/Sells

Hello!

Randy and I were discussing some additional functionality after the meeting
today. . .

Is there any reason that we could NOT automate the creation of the buy/sell
or brokered paths in UNIFY once the deals have been matched in the Contract
Exchange module?  Will the Contract Exchange module contain enough
information to create the UNIFY path just a scheduler would?

In other words, is the path creation process for buy/sell deals only manual
"re-entry" of the data that will be sitting out in Contract Exchange?  OR is
there additional information that you need to create the path that is not
sitting in Contract Exchange?

This, of course, assumes that the meter has been added to the deal in
Contract Exchange and the deal has bridged from SITARA to UNIFY.

It seems to us that this should be possible and valuable, but please give us
your input!

Thanks,
Carrie


We've known, but is has gotten to be a bigger issue as he has gotten older.

From: Suzanne Adams@ECT on 08/02/2000 10:53 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re:

Are you just finding out?  I know there are things that can be done to help
that situation.  Do you want me to block you out for Friday afternoon as
well.  You need to get this taken care of quickly for Michael's sake.

	Kay Mann@ENRON
	08/02/2000 10:40 AM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: Re:

Michael problems. He has ADD and some other lesser learning problems.  We are
going to meet  with the specialist next week.

I'm going to try to take off Friday afternoon as well.  We are thinking of
changing his school, and Neil and I need to go visit a new one.

HECTIC!

From: Suzanne Adams@ECT on 08/02/2000 09:59 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re:

Are you ok?

	Kay Mann@ENRON
	08/01/2000 06:03 PM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject:

Please protect Thursday afternoon, August 10th for me.  I have some important
personal stuff to take care of.


Here is the current draft of the Paribas Master Netting Agreement.  We intend to execute this this morning.  The entities and agreements may change prior to execution.  Contact me with any questions.

Harlan E. Murphy
Enron Wholesale Services - Legal
1400 Smith Street, EB 3811
Houston, Texas 77002
Tel: 713.345.2679
Fax: 713.646.3490
E-mail: Harlan.Murphy@Enron.com


We agree

"Eileen Ponton" <kponton@duke-energy.com> on 03/16/2001 10:11:53 AM

To:   David Avila/LSP/ENSERCH/US@TU, Charlie Stone/Texas Utilities@TU, Melissa
      Jones/Texas Utilities@TU, HPL.SCHEDULING@ENRON.COM, LIZ.BELLAMY@ENRON.COM
cc:
Subject:  NOMS / ACTUAL FLOW FOR 03/15

DATE      NOM       FLOW - MCF           FLOW - MMBTU

3/15      60,000         59,386               60,989

BTU = 1.027


got it. Does Genuity know that we want some changes yet?

-----Original Message-----
From: Sarkissian, Arshak
Sent: Tuesday, November 06, 2001 4:50 PM
To: Mann, Kay
Subject: RE: Genuity Buy and Corp Sell (Back to Back)

I don't have an electronic copy, however,  I just  asked Amy to forward it to you with all subsequent amendments

A

-----Original Message-----
From: Mann, Kay
Sent: Tuesday, November 06, 2001 4:27 PM
To: Sarkissian, Arshak
Subject: RE: Genuity Buy and Corp Sell (Back to Back)

Haven't done anything with it since there hasn't been any activity.  If we think that we want to do something, it would be helpful to get a copy of the master.  I don't think I still have a copy.  I can probably look it up on Spotlight, but if you have an electronic file handy I would be most grateful.

Kay

-----Original Message-----
From: Sarkissian, Arshak
Sent: Tuesday, November 06, 2001 4:20 PM
To: Mann, Kay
Subject: FW: Genuity Buy and Corp Sell (Back to Back)

Kay,

Do you have a status on this?  We have a deal in the works that would require us signing their paper.

Please let me know.

Arshak
-----Original Message-----
From: Garrett, Bryan
Sent: Tuesday, November 06, 2001 4:01 PM
To: Sarkissian, Arshak; Edison, Susan
Subject: FW: Genuity Buy and Corp Sell (Back to Back)

RE: Genuity master issues
-----Original Message-----
From: Mann, Kay
Sent: Tuesday, November 06, 2001 3:59 PM
To: Garrett, Bryan
Subject: FW: Genuity Buy and Corp Sell (Back to Back)

-----Original Message-----
From: Wilhite, Jane
Sent: Tuesday, September 04, 2001 9:55 AM
To: Mann, Kay; Schuler, Lance (Legal)
Subject: RE: Genuity Buy and Corp Sell (Back to Back)

Kay,

We need to incorporate the following components into the Genuity Solutions Inc. Master Agreement:

We need a parent guarantee from Genuity Inc. ($10MM) and are willing to reciprocate (Enron Corp. $10MM).  We need to insert Events of Default with respect to guarantor. (Credit Support Annex section 4 and 5 from our MSA)
We need to insert netting (MSA section 6.4) and close-out setoff (MSA section 5.7).
We need to insert the ability to request financial statements from the Guarantor if they are not publicly available (MSA section 8).
The assignment language needs to be re-amended.  Both parties can only assign to an affiliate that is at least as creditworthy as the existing - i.e. we need to maintain the parent guarantee. (MSA section 10.4). The current amendment is unclear whether or not Genuity is the only party allowed to assign to an affiliate.
We need a bilateral bankruptcy event of default. (MSA section 5.1(iv)).
There is no clause regarding disputes of invoices.  We can use our standard language from the MSA.(Section 6.3).
Do we need to state that we are a forward contract merchant?

Please let me know if you have any questions.

Thanks,

Jane Wilhite
ext. 35063

-----Original Message-----
From: Mann, Kay
Sent: Sunday, September 02, 2001 10:42 AM
To: Schuler, Lance (Legal)
Cc: Wilhite, Jane
Subject: RE: Genuity Buy and Corp Sell (Back to Back)

Sounds fine.  I have a copy of what I believe to be the current master, and the confirm states that  a revised master is anticipated, and if signed, may govern the transaction.

Kay

-----Original Message-----
From: Schuler, Lance (Legal)
Sent: Sun 9/2/2001 10:13 AM
To: Mann, Kay
Cc: Wilhite, Jane
Subject: FW: Genuity Buy and Corp Sell (Back to Back)

Kay, since you have been involved with Genuity, will you please followup on the proposals below.  Thank you.  Lance.

W. Lance Schuler
Enron North America Corp.
1400 Smith Street
Houston, Texas  77002
Phone: 713/853-5419
Fax:  281/664-4890
Email:  lance.schuler-legal@enron.com

 -----Original Message-----
From:   Wilhite, Jane
Sent:   Friday, August 31, 2001 3:53 PM
To:     Sarkissian, Arshak; Lafuze, Molly
Cc:     Suarez, John; Racicot, Paul; Schuler, Lance (Legal)
Subject:        *RE: Genuity Buy and Corp Sell (Back to Back)

Arshak - We will approve this transaction with Genuity Solutions Inc.

Please note - before any additional transactions with Genuity Solutions or Genuity Telecom occur we must amend the Master Agreement.  CRM does not approve of the form for the Master Agreement with Genuity Solutions, Inc.  There are no events of default with respect to EBS, we need to incorporate set-off language between the two affiliates and we need to push for a parent guarantee.

Molly - please attach these comments to the confirmation for the file.

Lance - Can we get somebody in legal assigned to help amend this agreement?

Thanks,

Jane Wilhite
ext. 35063

 -----Original Message-----
From:   Sarkissian, Arshak
Sent:   Friday, August 31, 2001 3:44 PM
To:     Wilhite, Jane; Lafuze, Molly
Cc:     Suarez, John
Subject:        RE: Genuity Buy and Corp Sell (Back to Back)

Genuity MtM~($60,928)

 -----Original Message-----
From:   Wilhite, Jane
Sent:   Friday, August 31, 2001 2:23 PM
To:     Sarkissian, Arshak; Lafuze, Molly
Cc:     Suarez, John; Edison, Susan; Racicot, Paul
Subject:        RE: Genuity Buy and Corp Sell (Back to Back)

What is the MTM for this deal?

 -----Original Message-----
From:   Sarkissian, Arshak
Sent:   Friday, August 31, 2001 2:18 PM
To:     Lafuze, Molly; Wilhite, Jane
Cc:     Suarez, John; Edison, Susan; Racicot, Paul
Subject:        Genuity Buy and Corp Sell (Back to Back)

Molly,

Please find the deal tickets attached.  Lets try to get it out (at least the Genuity piece) today.

Thanks,

Arshak.

 << File: GENUITY-CORP-DEAL-TICKET-8-31-2001-AS.xls >>  << File: GENUITY-CORP-BUY-DS3-1400SMITH-8-31-2001-AS.xls >>


---------------------- Forwarded by Steven J Kean/HOU/EES on 07/25/2000 02:14
PM ---------------------------

Mark Schroeder@ECT
07/25/2000 06:58 AM
To: Steven J Kean/HOU/EES@EES, Kathryn Corbally/Corp/Enron@ENRON, Margaret
Carson/Corp/Enron@ENRON, Rob Bradley/Corp/Enron@ENRON, Richard
Shapiro/HOU/EES@EES
cc: Peter Styles/LON/ECT@ECT
Subject: EU household & industrial consumers benefit from lower electricty
prices

Interesting info for those of you who follow or have an interest in this type
of data regarding succes of market liberalisation.  Further interesting to
note that household prices fell in Sweden and Finland, markets that already
had liberalised wholesale markets, after furhter market opening to
residential secotr.  Note fall in German prices, which, despite bad access
regime, ended up with a suicidal competition in the wholesale market by
incumbents.  Let me know if you need more/have any questions.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 25/07/2000
12:58 ---------------------------

Peter Styles
20/07/2000 18:31
To: Kyran Hanks/LON/ECT@ECT, Mark Schroeder/LON/ECT@ECT
cc: Nailia Dindarova/LON/ECT@ECT

Subject: EU household & industrial consumers benefit from lower electricty
prices

Some useful stats below.

---------------------- Forwarded by Peter Styles/LON/ECT on 20/07/2000 18:31
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "EETC" <eetc@euronet.be>                           20/07/2000 15:25

To: "Hanna Maria Tarjamo" <hanna-maria.tarjamo@fortum.com>, "Martin Sjolund"
<martin.sjolund@q.vattenfall.se>, "C.J. Schroot" <k.schroot@remu.nl>, "C van
der Kaa" <c.vander.kaa@remu.nl>, "P de Visser" <p.de.visser@remu.nl>,
"Fernando Lasheras" <fernando.lasheras@iberdrola.es>, "Christina Tapper"
<christina.tapper@q.vattenfall.se>, "Stig Goethe"
<stig.goethe@vattenfall.se>, "Kaija Kainurinne"
<kaija.kainurinne@fortum.com>, "Kari Huopalahti"
<kari.huopalahti@fortum.com>, "Jaime Echevarria"
<jaime.echevarria@iberdrola.es>, "Bruno Grobner"
<Bruno.Groebner@erl11.siemens.de>, "Klaus Willnow"
<klaus.willnow@siemens.be>, "Peter Styles" <peter.styles@enron.com>, "Nailia
Dindarova" <nailia.dindarova@enron.com>, "Jaakko Tusa"
<jaakko.tusa@fortum.com>
cc:

Subject: EU household & industrial consumers benefit from lower electricty
prices

For your information, please find attached a  summary and a short analysis of
two reports just out the 18th of July by Eurostat, the Statistical Office of
the European  Communities in Luxembourg, which present the prices of
electricity for both  domestic and industrial consumers collected on 1
January 2000.

?

 - Electricity prices in the EU between 1998 and 2000.doc


Here's the info guys.  Thanks

 -----Original Message-----
From: 	Wilson, Angela
Sent:	Tuesday, September 25, 2001 8:35 AM
To:	Bolton, Stacey
Cc:	Thome, Jennifer
Subject:	Conference call

Hey Stac.  The dial in number for your conf. call is 800.998.2462.  PIN is 5478626.  Don't forget to press the pound key after entering the PIN number.

We have rectified the problem and I am the process of getting us credited for the calls you were not able to log on to.  If anything else is needed, please let me know.


Hey Dave.  Hope your weekend went well with the girls.  I got a call from my
mom tonight that Cita was in the Hospital again.  According to my mom she is
doing okay now.  I called Cita on Friday and she said she just felt like she
was getting a cold but apparently she went in for the heart failure thing
again?  Is that correct.?  Anyway,  I am working the night shift tonight so I
will give her a call tommorow afternoon after I wake up.   I called and left
you a message letting you know that i am probably not going to Vegas.
Everyone kind of flaked out.  So, I will be around the weekend of the Super
Bowl and was wondering what you guys might be doing for it.  Also I was going
to see if you and Karen would maybe be interested in going up to Big Bear to
go skiing for the day on Friday or Saturday.  I thought it might be fun.  I
have an extra set of ski's that I was thinking about bringing and leaving
down there anyway so I could go without having to hassle with Rentals.  So,
let me know if you have any interest in doing that and if you have anything
going for the Super Bowl.  Tell Cita I love her and tell Bob to get in
shape!  See ya soon!


see you there

	Enron North America Corp.

	From:  Kori Loibl                           09/25/2000 03:19 PM

To: John Arnold/HOU/ECT@ECT, Mike Maggi/Corp/Enron@Enron, Brian Hoskins/Enron
Communications@Enron Communications, Dutch Quigley/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Sherry Dawson/NA/Enron@Enron, Laura
Vargas/Corp/Enron@ENRON
cc:
Subject: Desk Dinner

I have made reservations for 8:00 Wednesday evening at Fogo de Chao.  For
those of us who haven't been there, the address is 8250 Westheimer, between
Hillcroft and Fondren on the north side of the road.

If you are not able to attend, please let me know.

K.


Sandi's on vacation this week.  There are rumors that PG&E's actively seeking
a negotiated solution with legislators and the Governor, but I can't verify
and don't have details on what the negotiated agreement might look like.
While's Sandi's away, have asked Mona to check in with our Sacramento
lobbyists to poke around for information.  Will report back soon as we get
more info.

James D Steffes
09/16/2000 01:12 PM
To: Jeff Dasovich/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES
cc: Harry Kingerski/HOU/EES@EES
Subject: PG&E Rate Cap End

What is going on with this issue politically?  If PG&E gets its rate cap
removed, we need to make sure that this doesn't create more problems for
wholesale markets?

Jim

___________________________________________________________-

California's largest utility is pushing to end a four-year-old retail rate
freeze that has protected millions of Northern Californians from the price
volatility in the wholesale electricity market that  rocked San Diego this
summer.  PG&E Corp. wants to end the price freeze imposed in 1996 by the
state legislature because it is losing money under the arrangement.  PG&E's
move is going to set the stage for a major confrontation between the utility
and state regulators -- the California Public Utilities Commission will have
to balance conflicting needs: the utility's desire to protect its
shareholders from huge losses and the commission's duty as a regulator to
protect the public from a flawed market that appears incapable of delivering
"just and reasonable rates required by law."  California legislators fear
that the state could fall into a recession if electricity prices do not drop
soon.  California's 1996 deregulation law required all investor-owned
utilities to freeze rates at seemingly high levels.  Utilities were allowed
to use surplus revenues to pay down generation-related debts that regulators
said would render them uncompetitive in a deregulated world.  It seemed to
work well until this summer in California  --  wholesale prices for
electricity went up suddenly -- and the average price of power consumed
today -- for example -- is $ 200 a megawatt hour or nearly four times the
amount that PG&E can bill its customers.  State Senator Debra Bowen,
chairwoman of the California Senate utilities committee commented that the
legislature is reluctant to become involved -- she said further, " [T]he
legislature feels like somebody who's fallen into poison oak enough times
that all we have to do is walk past a bush and we break out in a rash.
That's the way we react to these energy issues."


Here's the option we discussed yesterday.  It has some farm tenancy stuff
which I want to make sure you see.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/30/2001 11:58
AM ---------------------------

"Way, Karen S. - CHI" <karen.way@piperrudnick.com> on 01/30/2001 10:53:27 AM
To: "'kathleen.carnahan@enron.com'" <kathleen.carnahan@enron.com>,
"'Kay.mann@enron.com'" <Kay.mann@enron.com>
cc:

Subject: Titan-Schaeffer Option.DOC

 <<Titan-Schaeffer Option.DOC>>

Kathleen and Kay:
Per Kathleen's voicemail this morning, attached hereto please find the most
recent version of the Titan-Schaffer Option Agreement for your use.  Please
feel free to contact me with any questions or comments you may have on this
matter.

Best regards,
Karen

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

____________________________________________________________________________
The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
received this communication in error, please re-send this communication to
the sender and delete the original message and any copy of it from your
computer system.
Thank you.

For more information about Piper Marbury Rudnick & Wolfe, please visit us at
http://www.piperrudnick.com/
____________________________________________________________________________

 - Titan-Schaeffer Option.DOC


As requested.


Welcome Back!
Mom said you weren't feeling so great all week because of your sinus
problems and a sore throat.  NO FUN!!  Hope you're better now.  If you are
at work today, you are probably swamped with things to catch up on.

You make it pretty hard to give you a thank-you.  I write you an e-mail
thanking you for great stuff you've done, and you come back with more stuff
to give us.  :)

Coming to Houston for the 4th of July sounds good to us.  WE APPRECIATE THE
OFFER TO PAY FOR AIRFARE!!!!!!!!!!!!!!!!!!!!!!!  We had been thinking of
renting a van to drive the whole way.

The tricky thing again this year is figuring out how to get Ben there.  He
has another church event the week of June 25th-July 2nd.  We thought about
having him ride back on the bus to Omaha (so he doesn't miss out on the fun
stuff they do on the way back), arriving Monday the 2nd around noon, and
then we all fly out together on the afternoon of the 2nd or... Mark Anna and
I leave on Friday or Saturday the 28th or 29th, and have Marlyss and Gary
help Ben catch a flight Monday the 2nd or Tuesday the 3rd.  Mark should be
able to take the whole week off.

The other tricky thing in the whole deal has to do with whether Ben will
have to take summer school.  He has been told that if he flunks a class this
semester, he will have to retake it in summer school.  We won't know for
sure if he is going to flunk until the middle or end of May.  If he has to
take summer school, he will not go on the church event or come to Houston
with us because summer school is only offered the first part of June through
July 13th.  If reservations are made for Ben, we would not be able to use
it.  Let me know your thoughts.

I did look up information again about the educational IRA.  According to
page 27 of the 1040 instruction book, you cannot deduct contributions to an
educational IRA (just like you cannot deduct contributions to a Roth).

Mark and I haven't decided anything about the NE fund.

You probably realize this but the kids educational IRA's are not doing well.
Your $1,000 contribution is now down to $843.  I know you say for the long
run we shouldn't worry, but since Ben will graduate in 3 years, I'm
wondering if it is still the best place to be.  Let me know what you think.

Love and Hugs,
Linda
-----Original Message-----
From: Jim.Schwieger@enron.com [mailto:Jim.Schwieger@enron.com]
Sent: Thursday, March 08, 2001 1:31 PM
To: mwoita@home.com
Subject: Thanks

Linda:

Thanks for the note!
have you guys decided about the Nebr. Fund!
Your one previous "e" mail about the Education IRA bothers me.  Im not sure
if I replied to you or not, but you and Mark should be deducting the $1,000
( $500 for Ben & $500 for Anna) on your tax return.  Im not positive about
the deduction but there is something you need to fill out Im sure.  I can
not make the contribution myself because my income is over the limit
allowed.  That is why I deposit cash so it looks like you and Mark have
done it!  If you get a chance look into this for me for your 2000 taxes.

Don't worry about $$$$$$.  Like I told Mom money is not something the
Schieger Family should have to worry about for a long time.  The FORCE has
been good.
You just need to communicate with me!

The boys and I are leaving for Colorado to go skiing this Friday.  We will
be there until Saturday March 17.   Brent & Chad Daniel are going with us
so Josh & Jarrod will have company and I can relax.

I would like you & Mark to start thinking about the fourth of July this
year.  I thought it would be nice to give Donna a break and have everyone
down here this July.
I realize the fourth is on a Wednesday which might take some maneuvering
for Mark.  One idea is to take the whole week off as vacation and you guys
could stay at the lake house the whole week.  It would be like Minnesota
just alot warmer.  There would be a ski boat, two wave runners, fishing
etc.  If you are interested let me know as soon as possible.  I will pay
for the airfare for the four of you so the sooner you decide the more time
the travel agent has to find good deals.

Ya quite bitching about me paying for the airfare.  Get over it!

     Love Ya,   Swig
---------------------- Forwarded by Jim Schwieger/HOU/ECT on 03/08/2001
01:03 PM ---------------------------

"Mark or Linda Woita" <mwoita@home.com> on 03/08/2001 12:23:39 PM

Please respond to <mwoita@home.com>

To:   "Jim Schwieger \(E-mail\)" <Jim.Schwieger@enron.com>
cc:
Subject:  Thanks

Just wanted to say thanks for all you do for us.  I think about it a lot, I
just don't tell you enough.

I really appreciate our van, knowing we paid so little for it.

I am very thankful for our windows, siding and roof, and knowing what a
deal
you have given us makes it even better.

It is comforting to know we will have some money for the kids education.

Etc. Etc. Etc.

Love and Hugs,

Linda


Sorry it has taken so long to get the scores out.  After 4 days in Vegas,
please check your scores - I am still in a daze.  Kansas - please forward
attachment to your friend Kris, Denver forward to Josh Stevens and John
Swinney please forward to Rob Fullen.  Here are the list of people I still
need money from:
Josh Stevens
Denver Plachy
Jimmy Simien
Eric Bass
Flannigan
Jason Wolfe

Money must be to me by COB Wednesday or your entry is forfeited(if your score
is bad and you do not pay I will not put you in any pool in the future).

Right now the pot is $410(assuming everyone pays) so the break down is
$307.50 and $102.50 for first and second respectively.

The following people need to give me a tiebreaker number for the final game
by COB Today(total score for final game):
Jason Wolfe
Denver Plachy
Scott Earnest
Chad South
Doug Friedman
John Nowlan
Lee Jackson
John Swinney
Rob Fullen
Josh Stevens

If I do not get a tiebreaker from you and you tie for first, you will
automatically get second and if you tie for second you are out of the money.

Again, please verify your score and let me know of any discrepancies - 1 pt.
first round victory, 2 pts. second round victory and upset gets seed
differential.

Thanks everyone for playing.
PL
3-7376


---------------------- Forwarded by Susan M Scott/HOU/ECT on 04/07/2000 04:04
PM ---------------------------
From: Carrie Southard on 04/07/2000 01:21 PM
To: Susan M Scott/HOU/ECT@ECT
cc: Torrey Moorer/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT
Subject: Another from today Missing Gas Daily Deal

Sorry.  Right after I sent the email I saw that there was one from today.  If
it get books tonight, we'll be able to pool it on Monday.  Let me know.

 142875
 04-06-2000  09:37:20 AM
Clinton Energy Management Services, Inc.
Natural Gas
US Gas Fin Swap
US Gas Daily     TCO Pool
07-30Apr00      USD/MM
5000   MMBtu
3.075 GD-MARKET
NE2276.1


Try this one....
---------------------- Forwarded by Andy Zipper/Corp/Enron on 07/05/2000
02:55 PM ---------------------------

"Uman, Jonathan" <JUman@cantor.com> on 07/05/2000 02:39:54 PM
To: "Andrew Zipper (E-mail)" <Andy.Zipper@enron.com>
cc:

Subject: eSpeed Posting Agreement

one more time...this time with feeling
my ex-secretary forgot to add the Rider A language to replace the sentence.
This is Stephens attempt at a middle ground on the point....
lets talk later-
J.

 <<eSpeed4.doc>>

 - eSpeed4.doc


Attached are our power point slides laying out the time line for FERC
action.  The estimated time frames for FERC action, even without a
settlement, are somewhat more positive than we discussed yesterday (e.g.,
FERC order on the merits after a technical conference by mid-February).
Also, the group is somewhat optimistic that the FERC order in November could
be an order on the merits, without additional proceedings such as a technical
conference or a hearing.  These optimistic time tables are based on the
assumption that Sierra will not take any action that will alienate or annoy
FERC, which could result in a slowdown in FERC's approval process.

Adam Wenner, Steve Angle, Sam Behrends, Joanne Rutkowski and I all discussed
the various time frames that are laid out in the slides, but they have not
seen the slides, so we would like to reserve the right to amend the slides
once everyone has a chance to review them.  Also, as we discussed yesterday,
we would like to be able to revise the slides, if necessary, tomorrow once we
get FERC's agenda for its November 8 meeting and we see what action FERC
takes in the California investigation on price spikes this past summer.

Please let me know if you have any questions or comments.

Sarah


Can we discuss when you get a chance?

Alan
---------------------- Forwarded by Alan Aronowitz/HOU/ECT on 04/11/2000
02:36 PM ---------------------------

	From:  Sheila Glover                           03/28/2000 05:15 PM

To: Alan Aronowitz/HOU/ECT@ECT, Julie S Gartner/HOU/ECT@ECT, John
Greene/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT
cc: Terri Harlan/HOU/ECT@ECT
Subject: ECT Investment, Inc. Structure Overview

Alan, Julie, John, Gary and Jeff:

Below you will please find an structure overview for ECT Investments, Inc.
relating to Management Reporting, Tax Reporting, Legal Entity, Regulatory
Reporting and Prime Broker Accounts.

It appears to me,  as it currently stands, we have a disconnect between the
Prime Broker set up and the other reporting we are doing.
Terri and I discussed some options with Julie Gartner, Tax.  which are noted
on the page.
I will follow-up with you as to what we want to do.
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 03/28/2000 05:04
PM ---------------------------

	Enron North America Corp.

	From:  Kelly Templeton @ ENRON                           03/28/2000 04:25 PM

To: Sheila Glover/HOU/ECT@ECT
cc:
Subject: ECT Investment, Inc. Structure Overview


Activity levels in Credit Risk Management (CRM) have never been higher due to
very volatile commodity markets, growth in EES and many other factors. In
order to address these market changes, effective now, Ken Curry will transfer
from Rick Carson's Due Diligence group to CRM and report to Bill Bradford.
Ken has a strong background in credit related issues and should be able to
immediately add value to the CRM group.

It is fortunate that adequate depth exists within RAC to be able to realign
personnel as market needs suggest. Please join me in congratulating Ken on
his move and in wishing him success in this new assignment.

Rick Buy


Joe -

Thanks for the information.  As I told Cornelio in relation to the EWS - Legal Project, I am currently only responsible for the LegalOnline project and work on this under the authority of Mark Haedicke.  As to the other projects, why and how may name became associated with them is both interesting and incorrect as I am not the "sponsor" of any of them.

Last week I received the first indication of the need to discuss these projects in line with ENW's budget approval for ENA projects.  Since a conference call was scheduled for earlier today to discuss these items, I figured I would gather more information and forward that information to the appropriate member of the Dept. for review, consideration and action.  I was advised yesterday that the budget was approved and there was no need for today's conference call.  Despite this budget approval (without EWS Legal discussion), ENW personnel have continued to request that I "approve" these projects for next year - even if the approval is only as a "placeholder" for the budget.  I cannot do this and, quite frankly, see no value in obtaining these "approvals" if the budget has been approved.

If those responsible for these other projects would like me to follow-up with you on these matters and authorize me to do so, I would be more than happy to do so.  Sheila Tweed has actually asked me to do this on the "extranet" project, which I will be reviewing with Ed Hearn.  Once we (Ed and I) have reviewed the feasibility study proposed by Cornelio, we will determine the next steps to be taken and whether or not this project should move forward.  I will advise you accordingly.

Mark

 -----Original Message-----
From: 	Wong, Joe
Sent:	Wednesday, October 17, 2001 12:40 PM
To:	Greenberg, Mark
Subject:	2002 IT Budgets

Mark - these are the answers to your questions concerning our budgets.  Please let me know if this is OK with you.  I would be happy to discuss in person or via a phone call.  Let me know what's best for you.

Your name appearing on 2 projects for ENA?
1)  "EWS - Legal" project. -  Cornelio spoke with you last night and confirmed 1 project actually belongs to Sheila Tweed.  So we will get her to approve.

2)  "Legal Web Maint."  - this is really 3 projects, which are:
Legal Web - Enhancements/maintenance for 2001 project converting "ECT Legal Foreign & Domestic", "Jurisdiction Document Library", and "European Document Libarary" Notes applications to intranet apps.  Sponsored by Mark Greenberg.
Physical and Financial Trading, Power Trading, Gas Assets and Industrial Markets Trading Agreements intranet site.  Replaces and expands 3 Master Agreements Notes applications.  Sponsored by Marc Taylor, Elizabeth Sager, Jeff Hodge, Julia Murray.
ENA Legal Support application. Sponsored by W.L. Schuler
Can you informally approve these 3 projects?

Is this formal commitment to the projects?
No.  This is only a placeholder in the budget for these projects, not formal approval.  You would formally approve the projects once we were ready to start working on them next year.  So, you can agree to put a placeholder in the budget for the project, but cancel it next year before we begin actually working on it.


Hi Matt,

Carlos gave me a file folder with the Salmon filing docs.  I need the corp
books with share certs, as we are selling the member interests and expect to
do so with share certificates.  I need it by Friday if at all possible.

Thanks,

Kay


see the attached file.

Pls note:   The CTI Code customers with C-4 are the accounts you are looking
for. The list you see includes all our house accounts as well.

regards,

Alfred Pennisi
MG London Inc.
520 Madison Avenue
28th Floor
New York, NY 10022
Tel: 212.715.5845
E-mail: alfred.pennisi@mglondon.com

----- Forwarded by Alfred Pennisi/NYC/MGUSA on 09/05/2000 02:20 PM -----

	Peter LoBue
	09/05/2000 02:00 PM

		 To: Alfred Pennisi/NYC/MGUSA@MGUSA
		 cc:
		 Subject: OPEN A/C LIST

SEE ATTACHED

Peter Lobue
520 Madison Avenue
28th Floor
New York, NY 10022
Tel: 212.715.5844
Fax: 212.826.5517
E-mail: peter.lobue@mglondon.com


fyi
---------------------- Forwarded by Steven J Kean/HOU/EES on 08/01/2000 09:15
AM ---------------------------

Vinio Floris@ENRON
07/26/2000 03:00 PM
To: Richard Shapiro/HOU/EES@EES, Steven J Kean/HOU/EES@EES
cc: Ricardo Charvel/NA/Enron@Enron
Subject: Camisea

Steve and Rick,

This is just to inform you that I have been involved with the Camisea gas
project in Peru since Shell-Mobil developed it several years ago. As you can
see in the article below, Enron is one of the possible candidates for getting
the transportation and distribution contract. I am in continuous contact with
Roberto Pensotti, the lead developer for the this deal. Roberto knows that I
have strong contacts in the government and the private sector in Peru, and I
would be more than happy to help in any way possible. I will keep you posted
on this issue. Regards, Vinio

http://www.gestion.com.pe/archivo/deldia/indices.HTM


Spoke with David Harvin, a senior litigator at V&E.  He believes it would be
prudent to call it an "apparent theft" in the two places where" theft"
appears in the release.  Accordingly, this change should be made and the
"analysts" script should be revised accordingly.  Please advise if there are
any questions. Thanks.  SWD

Scott Vonderheide@ENRON
02/23/2000 01:11 PM
To: Hardie Davis/Corp/Enron@ENRON, Stanley Horton/Corp/Enron@Enron, Beth
Meyer/Corp/Enron@ENRON, Gina Taylor/OTS/Enron@ENRON, Dave
Schafer/ET&S/Enron@ENRON, Michael Burke/Houston/Eott@Eott, Lori
Maddox/Houston/Eott@Eott, Susan Ralph/Houston/Eott@Eott, Steve
Duffy/Houston/Eott@Eott, Dana Gibbs/Houston/Eott@Eott, Molly
Sample/Houston/Eott@Eott
cc:

Subject: EOTT fourth quarter earnings release

Attached is the most current release.  The second paragraph has been changed
to reflect the comments made at the 10:45 AM meeting.


---------------------- Forwarded by Phillip M Love/HOU/ECT on 10/16/2000
08:56 AM ---------------------------

Plove570@cs.com on 10/15/2000 07:13:59 PM
To: plove@enron.com
cc:
Subject: Fwd: FW: More on Gore

Return-Path: <love@cl.uh.edu>
Received: from  rly-zd02.mx.aol.com (rly-zd02.mail.aol.com [172.31.33.226])
by air-zd05.mail.aol.com (v76_r1.8) with ESMTP; Thu, 12 Oct 2000 12:51:21
-0400
Received: from  b25tr.cl.uh.edu (b25tr.cl.uh.edu [129.7.166.5]) by
rly-zd02.mx.aol.com (v75_b3.9) with ESMTP; Thu, 12 Oct 2000 12:50:52 -0400
Received: by B25TR.CL.UH.EDU with Internet Mail Service (5.5.2650.21) id
<4YVVPSP2>; Thu, 12 Oct 2000 11:52:30 -0500
Message-ID: <02903EC33ADAD211A9CD00A0C98455E7036B8A3D@B25TR.CL.UH.EDU>
From: "Love, Dianne" <love@cl.uh.edu>
To: "Wooten, Kevin" <wooten@cl.uh.edu>,        "'plove570@cs.com'"
<plove570@cs.com>
Subject: FW: More on Gore
Date: Thu, 12 Oct 2000 11:52:28 -0500
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
Content-Type: text/plain

> -----Original Message-----
> From: Denise James [SMTP:drjames@worldnet.att.net]
> Sent: Thursday, October 12, 2000 12:41 AM
> To:   MasseyEnt@aol.com; Love, Dianne; Linda Hester; Nancy Terrell Rogers;
> Judith Eder; Lisa Cross; Deborah Carpenter; Cathy Garfield Kranz
> Subject:  FW: More on Gore
>
> This story was passed to me today & I thought you might find it
> > > interesting:
> > >
> > >  Al Gore gave a big speech this week about how his faith is so
> > "important"
> > >  to him.  In this attempt to convince the American people that we
> > should
> > > consider him for president, he announced that his favorite Bible verse
> > is
> > > John 16:3.
> > >
> > > Of course the speech writer meant John 3:16, but nobody in the Gore
> > > camp was familiar enough with scripture to catch the error.  And do
> you
> > > know what John 16:3 says?
> > >
> > > John 16:3 says "And they will do this because they have not known the
> > > Father nor
> > > Me"
> > > The Holy Spirit works in strange ways.
> > > Pass it on..........
> > >
>
>


CALENDAR ENTRY:	REMINDER

Description:
	Make sure JEA is changed, Basis Option and Capacity Option are complete!

Date:		11/28/2000
Time:		8:05 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


The proposed purchase of the PGE and SCE's transmission grids have vastly
different short term liquidity effects for PGE and SCE.   If the current
proposal is at 2.3x book, and assuming the first mortgage bond holders want
complete repayment in return for releasing their liens, the numbers (at
12-99) fall out:

in millions                   PGE        SCE

Book Value                    1.43       1.90
Multiple of Book              2.3x       2.3x
Cash Price                   $3.29      $4.37

-First Mortgage Bonds        $3.35      $1.18
Resulting liquidity         ($0.06)     $3.19

Note that the first mortgage holders may release their liens in return for
partial payment based on remaining value.  Nonetheless, PGE's situation is
not as flexible.


FYI.  These folks are really, really nice people.

 -----Original Message-----
From:  "Jim Geringer" <GERINGER@state.wy.us>@ENRON
[mailto:IMCEANOTES-+22Jim+20Geringer+22+20+3CGERINGER+40state+2Ewy+2Eus+3E+40E
NRON@ENRON.com]
Sent: Thursday, June 07, 2001 5:35 AM
To: Kaufman, Paul
Cc: McVicker, Maureen; Steve Reynolds; Shawn Taylor
Subject: Re: Enron's Final Version-Wyoming

Paul -
Thanks for participating at the Wyoming Energy Commission meeting.  Your
presentation was very timely.   The Virtual Integration model really brought
the message home.
Our most sincere sympathies to Steve on the loss of his father.   A Dad is a
very special person.
Governor Jim

>>> <Maureen.McVicker@enron.com> 06/05/01 07:27AM >>>
Paul Kaufman asked that I forward this to you.

Here's a copy of the Wy presentation.

(See attached file: SK-Wyoming-0501.ppt)


Zimin,

I will make sure that you have the opportunity to present your contributions.
It makes also sense to ask Paulo every time to say a few words.

Vince

Zimin Lu
06/22/2000 10:06 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Stinson Gibner/HOU/ECT@ECT
Subject: Re: Improve Communication

Vince,

Thanks for your reply.   That is what I feel too: Vince knows what we are
doing, so he does not have to ask us again.

In another dimension,  I want to make sure that people like Paulo get enough
incentive to perform.   The group meeting, I
think, will provide a sense of accomplishment when other members in the group
know what we have been through.

Thanks again for your understanding.

Zimin

Vince J Kaminski
06/21/2000 06:30 PM
To: Zimin Lu/HOU/ECT@ECT
cc: Stinson Gibner/HOU/ECT@ECT
Subject: Re: Improve Communication

Zimin,

Sorry if you get this impression. The real reason is that I treat
the lunch meetings as an opportunity to get updates on things
that are going on at more remote locations. I interact with each of the
members of your group daily and I know what's going on.

I agree with you, however, that the lunch meetings are not exclusively
for my benefit,  but also for the benefit of  the other members of
the group. I shall make sure that you have the opportunity
to communicate  your contribution to the company.

Vince

Zimin Lu
06/20/2000 02:47 PM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
cc:
Subject: Improve Communication

Vince and Stinson,

The valuation group has accomplished a lot during last six months.  The
number of
projects we are working on is keeping increasing.   However, when comes to the
staff meeting (Thursday lunch meeting), we are often left out for updating
our projects.
This makes me feel that what we are doing is no longer interesting or worth
mentioning.

I am hoping that we can get  more exposure, despite we are still in the old
economy.

Zimin


Jeff has both sides of both deals in the system correctly. Here are the deal
numbers.

461029
Williams
115.00

461030
EES
114.95

461801
Mieco
115.00

461802
EES
114.95

And Deal #461139 was actually a Short Term Southwest deal done by Tom Alonso
with Williams for the same price on the same days, but with Prebon.
Confusion!

Hope this fixes it.