theres no mafia in texas

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 10:22 AM
To:	Maggi, Mike
Subject:	RE:

yep.  my mom's side of the family is.  i have heard that my great grandfather and his family were in the mafia, but no one will say for sure.  maybe they could eliminate my in-laws.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 10:18 AM
To:	Nelson, Michelle
Subject:	RE:

sure, are you really italian?

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 10:17 AM
To:	Maggi, Mike
Subject:	RE:

i'm italian too.  and no i don't watch that.  so will you make them disappear?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 10:16 AM
To:	Nelson, Michelle
Subject:	RE:

im an italian from new jersey, of course i can make them disappear, dont you watch the sopronos

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 10:14 AM
To:	Maggi, Mike
Subject:	RE:

i was playing.  wade is irritating me.  can you make my in-laws disappear?  so, i'm bored and i want to cry!  :)

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 10:13 AM
To:	Nelson, Michelle
Subject:	RE:

what do you mean

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 10:11 AM
To:	Maggi, Mike
Subject:

so can you give me the name of sarah's lawyer?


please include shirley on your california updates
----- Forwarded by Steven J Kean/NA/Enron on 02/25/2001 08:56 PM -----

	Shirley A Hudler@ECT
	02/23/2001 10:46 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Distribution

You mentioned at the end of our conf call last week that there might be an
internal distribution I should be on.  Is there someone I should contact to
get on the list?


Many of you have friends who are no longer with the company, so we wanted to provide you an overview of continuing efforts to assist Enron's former employees.

CAREER SERVICES
Last December Enron established a website to assist former employees identify jobs in Houston and throughout the United States.  Only former Enron employees and potential employers can access the site, http://careerservices.enron.com/

On this site, former employees can:
	? Post their resumes for approved employers to view
	? View job postings
	? Receive updates and information on career and community services available to them
As of January 25, 2002:
	? More than 1,300 companies had been approved to view resumes
	? Company recruiters had logged on more than 3,500 times to search for candidates
	? More than 600 jobs had been posted on the site

FINANCIAL ASSISTANCE
The Greater Houston Community Foundation
The Greater Houston Community Foundation (GHCF), in collaboration with the United Way of the Texas Gulf Coast, the Houston Area Urban League, Crisis Intervention of Houston, and Career and Recovery Resources, have established a fund to provide dedicated support for former Enron employees.  GHCF offers former employees counseling services and helps them work with mortgage companies, landlords and utilities to defer monthly bills while they are out of work.   If you are interested in making a tax-deductible donation to the GHCF, please call 713-268-6458 or mail donations to GHCF at 4550 Post Oak Place, Suite 317, Houston, TX  77027.  Checks should be made payable to Greater Houston Community Foundation and designated for the Enron Employee Transition Fund.  To receive assistance, former employees can call 713-533-4598, or outside Houston, 1-800-493-4598.  Lines are open 24 hours a day, seven days a week.

Enron Ex-Employee Relief Fund Account
A former employee has established the Enron Ex-Employee Relief Fund Account at the Humble Community Bank.  Visit the website at <http://www.eerfa.com> for more information or to make a donation.  Former employees can submit grant requests to eerfarequest@surfmk.com.

MDPC Transitional Assistance Program
Memorial Drive Presbyterian Church has created a Transitional Assistance Program open to both members and non-members who need assistance re-entering the workforce.  Right Management Consultants offers a series of two-day workshops for former employees on topics such as Career Assessment and Evaluation, Job Search Communication and Managing in a Time of Change.  Requests for limited and discretionary short-term financial assistance will be accepted from those who have participated in this program.  MDPC will offer a holistic approach to re-entering the workforce including family counseling and stress management. For more information, contact Memorial Drive Presbyterian Church at 713-953-2550, ext 180.


You the Man!!

Pipeline contacts

Toni Garcia  713-420-3663  Tennessee/Midwestern/East Tennessee
Stephanie Spencer  713-627-5025 Texas Eastern/Algonquin
Greg Synder  304-623-8268  CNG Transmission
David Schoellkopf 713-215-4625  Transco

I know the CNG person is the right person to talk to but everone else may
refer you to another department.

"Clayton J. Vernon" <cjvernon@mail.utexas.edu> on 02/16/2000 07:34:31 PM
To: chris.germany@enron.com
cc:
Subject: leg

Chris-

(It's Clayton, on my UT account from home)

I may have the perfect girl for you; she's a 29-year old *beauty* in
Ukraine, one of my wife's best-friends, about 5'2" in height, slim,
smart but a bit quiet and introspective, who really wants to meet a
quality guy and get married and have children. She had her heart broken
by her first love, a guy who dumped her for a girl in Kiev whose father
gave the guy a good job. It seems the quality guys, as few as they are,
all want to marry a rich girl and want only money andnot children.

I'll bring a picture of her by your office tomorrow.

One hang-up- she doesn't speak English very well (yet). But, where
there's a will, there's a way.

Clayton


Guys, Wes is going to come talk to you about booking more value in Mariner in
order to meet Global Finance and ENA targets.  I want a view from you guys of
what is the prudent carry value for Mariner assuming current gas prices and
the reserve increases assumed to coming.  Keep in mind what would be a
reasonble sale value for the asset mid-next year as per our plan.

Regards
Delainey


Billy,

It is expected that by the time the hard costs referenced in #2 are incurred,
the project will be in E Next (or its successor/take out vehicle) since
construction will be nearly complete.  Costs incurred in #3 should be Phase 2
E Next costs, since this should be in the construction period, although it
could be immediately prior to that time.

Lisa, I skipped Rose on this email since she is out of town, and reviewed
this agreement before she left.

Kay

From: William Fleenor/ENRON@enronXgate on 06/04/2001 09:46 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Deerfield development agreement

See comments therein.

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, June 01, 2001 2:01 PM
To: Fleenor, William
Subject: Deerfield development agreement

Hi Billy,

Can you take a look at this since the Hermanator is out?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/01/2001 02:00
PM ---------------------------

Kay Mann
05/31/2001 06:48 PM
To: Lisa Bills/Enron@EnronXGate, Herman Manis/Enron@EnronXGate, Roseann
Engeldorf/Enron@EnronXGate
cc: Ben Jacoby/Enron@EnronXGate, Steven Krimsky/Enron@EnronXGate

Subject: Deerfield development agreement

Hello.

The commercial team  has asked that I forward this document to you for
review.  It is a development agreement for a project in Florida.  We have
attempted to address the accounting/E-Next issues, but please advise of any
desired changes.

Thank you,

Kay

 << File: Deerfield development ag May 31.DOC >>

PS  Pardon the formatting.  It will be cleaned up by those with the ability
to do so.


Rebecca,

Philippe being the only other corp officer within the large technology
organization has an enormous volume of contracts to sign.  A large bulk of
the signatures that are required come from two areas;  Infrastructure and
ENA.  I would like to have 2 current Vice Presidents within the business
units made corp VPs:  Beth Pearlman and Jenny Rub.

Can we make this happen and when would it occur?

Thanks,
Mike


Tomcat,

Sorry it's taken so long, but finally made contact with a guy at Williams regarding your interest.  His name is Michael Westbrock and he's the term ComEd trader.  I just forwarded your resume to him after speaking with him over the phone.  His e-mail is michael.westbrock@williams.com and his phone # is (918) 573-8752.  He said feel free to follow up with him directly later this week after he's had time to look into it.

Good luck,

Fletch


Hello? anyone there?

If you get this I hope all is well.

Pete


Here it is


Chris Dorland
Home 713-588-5131
Cell 713-416-6694


TIPTOPSITES
===========
holisticage.homestead.com
soulbunch.homestead.com
soulfulness.homestead.com
econeasy.homestead.com
commodities.homestead.com
investeasy.homestead.com
financeforte.homestead.com
tiptopsearch.homestead.com
supertiptops.homestead.com
physicalworld.homestead.com
mechanics.homestead.com

Basil Venitis
venitis@hotmail.com
phone 9840422
68 Achilles
Paleo Phalerum 175-62
GREECE

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/


The Senate Energy Committee will conduct an oversight hearing on the
Northwest Price Spike Situation on Thursday, October 5th here in D.C. at 9:30
a.m. with Senator Slade Gorton (R-WA) Chairing.  The focus will be how to
prevent future price spikes with only Northwest witnesses invited to testify,
including the four Northwest governors who likely will not be able to accept
on such short notice.

As you know, we have been working with Senator Gorton's counsel to discuss a
possible role for the Senator in our FERC strategy.  After our meeting
tomorrow with Senator Bingaman's counsel regarding the FERC strategy, we plan
to debrief Senator Gorton's counsel also and refine their possible roles in
the strategy.

As such, since we are not truly a "Northwest" witness, rather than ask to
testify; we can achieve our same goals by continuing to work with Senator
Gorton's counsel to suggest questions plus statements for the hearing.

Allison will get you the testimony when it becomes available.


I wonder if a court would give this any credence?
---------------------- Forwarded by Mary Hain/HOU/ECT on 01/19/2001 03:51 PM
---------------------------

Alan Comnes
01/19/2001 12:58 PM
To: Tim Belden/HOU/ECT@ECT, mhain@enron.com, Susan J Mara/NA/Enron@ENRON,
Paul Kaufman/PDX/ECT@ECT, Jeff Dasovich/NA/Enron@Enron
cc:
Subject: Hoecker's Last Word:Calif Must Adopt 'Realistic' Pwr Plan

Nice final flame!

Hoecker's Last Word:Calif Must Adopt 'Realistic' Pwr Plan

01/19/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- California officials have shown "bald disregard" for
Federal Energy Regulatory Commission authority and are pursuing short-sighted
policies that will push the state's two largest utilities over the brink and
into bankruptcy, FERC Chairman James Hoecker said Thursday.

The remarks by Hoecker, who resigned as chairman effective Thursday, came in
a highly unusual formal opinion in what represents his blistering last words
on the rapidly unraveling power crisis in California.

Hoecker lambasted Gov. Gray Davis and state policymakers for allowing the
state's power crisis to finally succumb to rolling blackouts.

State officials ignored the commission's Dec. 15 market-restructuring order
and instead embraced "conspiracy theories, resistance to more realistic
rates, and calls for palliative price caps...to obscure the issues and delay
solutions," Hoecker said.

White House-brokered negotiations to develop power-supply contracts as part
of a near-term solution are at an impasse due to "unrealistic" demands by
Gov. Davis that power providers agree to contracts at rates below their cost
of production, Hoecker said.

He further called for Davis and lawmakers to relent in their unrealistic
position that retail rates continue to be frozen at below-present-cost,
pre-1996 levels.

Unless state officials agree to pursue realistic policies, Edison
International's Southern California Edison Co. (EIX) and PG&E Corp.'s Pacific
Gas & Electric Co. (PCG), will be pushed into bankruptcy by following the
state's flawed market-restructuring law, Hoecker said.

"Perhaps bankruptcy can be averted. If it cannot, perhaps it will force
debtors, creditors and state officials to address the financial problems of
utilities in a new light, without recrimination and posturing," he said.

"Let's be realistic," Hoecker said. "Wall Street and consumers share one
critical trait: Without a reasonable, technically defensible and
comprehensive set of solutions to such crises, they have no basis for
confidence that problems can or will be managed or confidence to support
investment on one hand and political forbearance on the other."

Hoecker called for state officials to "expeditiously" implement the
provisions of FERC's Dec. 15 order.

In particular, he said, the California Power Exchange is making the financial
situation worse by ignoring the order's provision calling for suspension of
the single-price auction when prices bid exceed $150 per megawatt-hour.

"Prices above the level allowed in the Dec. 15 order (have) further
jeopardized the financial status of California utilities," he said.

Reaching a deal on forward contracts, as called for in FERC's order, is
essential, Hoecker said. "An arbitrary bottom-line solution cannot be
prescribed without regard to costs," he said.

But Hoecker reserved perhaps his harshest criticism for the state's first
legislative response to the crisis, which Davis signed into law Thursday, to
replace the California Independent System Operator's industry-participant
governing board with a board of political state appointees.

Such mixing of markets and politics on the ISO, a FERC-jurisdictional entity,
represents "an unacceptable intrusion...into federally regulated power
markets," Hoecker said.

Further, he said, FERC made "mistakes" in allowing AB 1890, the state's
electricity restructuring law, to usurp the commission's regulatory authority
over wholesale power markets in the first place.

"Because the state is now clearly a market participant, the independence of
the (ISO) board is bound to be compromised. Consequently, the state's
decisions are no longer entitled to the kind of deference we have accorded it
since AB 1890," Hoecker said.

"More than that, this action evinces a bald disregard for federal
jurisdiction and a rejection of cooperative solutions (called for in FERC's
Dec. 15 restructuring order)," Hoecker said. "I recommend that the commission
seek to enjoin this technically flawed and unlawful usurpation of its
authority."

Hoecker rejected the state's continuing call for firm price caps in the
region. "Price caps will only jeopardize reliability, mask problems
temporarily, and deter or destroy any chance to solve the long-term supply
challenge," he said.

Hoecker urged an urgent response by policymakers, regardless of whether the
utilities enter bankruptcy.

"We cannot...keep moving from one failure to the next, with no agreed-upon
objectives. The governor's stated plans are unrealistic and ours' cannot be
fully implemented without his help," Hoecker concluded. "I urge state
policymakers to reject the false illusion that going it alone will serve the
interests of California consumers."

-By Bryan Lee, Dow Jones Newswires; 202-862-6647; bryan.lee@dowjones.com

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


Enron's Net Soars, Despite Telecom Loss, Gaining 40% Amid Strong Energy Units
The Wall Street Journal, 07/13/01

Enron Net Rose 40% in Quarter
The New York Times, 07/13/01

Treasury Prices Climb as More Money Is Shifted To U.S. Bonds on Weakness of
Emerging Markets
The Wall Street Journal, 07/13/01

THE ENERGY CRISIS Some State Energy Consultants Own Generators' Stock Ethics:
They negotiate deals and buy electricity from power firms. GOP officials
claim credit for forcing the disclosure of potential conflict.
Los Angeles Times, 07/13/01

THE ENERGY CRISIS Plan Uses Public in Refund Demand Legislature: Democrats'
proposal to pressure 'greedy' firms is attacked by GOP as political ploy.
Los Angeles Times, 07/13/01

COMPANIES & FINANCE THE AMERICAS - Surging energy sales behind Enron advance.
Financial Times, 07/13/01

Lex - Enron.
Financial Times - FT.com, 07/13/01

UK: Paladin says Enron sells entire stake.
Reuters English News Service, 07/13/01

White House adviser targeted for dealings with Salvation Army
Associated Press Newswires, 07/13/01

UK: Bidder list for Southern Water grows-report.
Reuters English News Service, 07/13/01

DPC not to re-start work on Phase II work
Business Standard, 07/13/01

California Power Bills Exceed Refunds, Judge Says (Update4)
Bloomberg, 07/13/01

California Governor Casts Blame for Crisis, to His Benefit
Bloomberg, 07/13/01

Enron's Net Soars, Despite Telecom Loss, Gaining 40% Amid Strong Energy Units
By Rebecca Smith
Staff Reporter of The Wall Street Journal

07/13/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Enron Corp. posted a 40% increase in second-quarter net income, reflecting
the enormous profitability of its energy marketing and trading enterprise,
which was sufficient to offset wider-than-expected losses at its
telecommunications unit.
The Houston company had net income of $404 million, compared with $289
million a year earlier, on revenue that nearly tripled to $50 billion.
Earnings per share rose 32% to 45 cents from 34 cents.
Enron was lifted by exceptionally strong electricity- and gas-trading
volumes. In North America, natural-gas volumes jumped 9% and
electricity-trading volumes jumped 71%. In Europe, where Enron is pushing
aggressively into newly deregulated markets, trading volumes for gas more
than doubled and for electricity leapt to almost five times those of before.
From practically nothing just two years ago, Europe generates one-quarter of
Enron's energy-trading volumes.
Profits from trading more than compensated for a $101 million loss posted for
the company's telecommunications business that analysts had, until recently,
proclaimed would soon generate more income than Enron's energy business. For
the quarter, bandwidth-service revenue was $16 million. The unit posted a
loss of $8 million for the year-earlier quarter.
Enron's chief executive, Jeffrey Skilling, said prices for capacity on
fiber-optic networks, such as the one Enron has built, have been "dropping
like a rock. . . . We've been shocked at the extent."
Mr. Skilling said the company is trying to boost revenue by focusing on
fiber-optic delivery of data and entertainment -- "a narrow piece of the
business but about all that's left" -- and is hoping the glut in capacity
will evaporate as competitors go broke. He said companies that continue to
invest, despite the "market meltdown," and keep their networks state of the
art will be rewarded eventually.
Enron's results beat analysts' expectations, but several said they fear
softening electricity prices throughout the nation, and particularly in the
West, could crimp third-quarter results. "Enron benefited from unusual price
volatility," during the quarter, said Raymond Niles, an energy analyst for
Salomon Smith Barney. But it is uncertain whether that will continue with a
general softening of natural-gas and electricity prices across the country,
most notably in the West.
Mr. Skilling said he thinks California may have seen the worst of its energy
crisis. He consistently has said he doesn't think Enron's earnings will be
significantly affected by possible refund orders from federal energy
regulators or other regulatory intervention.
He added that Enron was pleased with steps the Federal Energy Regulatory
Commission took this week to encourage the formation of four big
electric-transmission grid operators in the West, the Northeast, the
Southeast and the Midwest.

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

Business/Financial Desk; Section C
Enron Net Rose 40% in Quarter
Bloomberg News

07/13/2001
The New York Times
Page 12, Column 4
c. 2001 New York Times Company

HOUSTON, July 12 -- The Enron Corporation, an energy trader, said today that
its second-quarter profit rose 40 percent as its sales of natural gas and
electricity surged in the United States and Europe.
Net income rose to $404 million, or 45 cents a share, from $289 million, or
34 cents, in the period a year ago, Enron said. Results beat analysts'
estimates by 3 cents a share.
Revenue almost tripled to $50.1 billion. Enron, which is based in Houston,
sold almost twice as much power in North America and five times as much in
Europe than in the quarter a year ago.
Although electricity and natural gas prices surged in California, Jeffrey K.
Skilling, the chief executive of Enron, said the state ''is just not a big
factor'' in Enron's increasing profits. The company bolsters earnings by
increasing sales of energy and other commodities like lumber and steel rather
than by raising prices, analysts said.
''That's the nature of the commodities business,'' said Zach Wagner, an
analyst with Edward Jones & Company. ''As markets open up, their volumes will
grow. Their margins are basically flat.''
Enron's profit margin was less than 1 percent last year and has averaged 2.1
percent the last five years, based on Bloomberg data. That compares with a
profit margin of 6.5 percent for Exxon Mobil, the largest publicly traded
energy company.
Shares of Enron have dropped 31 percent the last year, despite steadily
increasing earnings, and sales that now rival those of Exxon Mobil. Shares of
Enron rose 45 cents today, to $49.55.
Enron was expected to make 42 cents a share in the quarter, the average
estimate of analysts polled by Thomson Financial/First Call.

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

Credit Markets
Treasury Prices Climb as More Money Is Shifted To U.S. Bonds on Weakness of
Emerging Markets
By Michael Mackenzie and Andrew Gelfand
Dow Jones Newswires

07/13/2001
The Wall Street Journal
C12
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -- Treasury prices closed higher as renewed weakness in emerging
markets prompted investors to shift more money into the U.S. bond market.
It is common for Wall Street traders to bid Treasurys higher when weakness in
other markets seems likely to spur flows into Treasurys, which are viewed as
a haven.
But yesterday's action involved more than just Wall Street firms and provided
substantial support, mostly offsetting the bearish influence of a stock
rally. "Argentina is keeping a good bid in the [Treasury] market," said Peter
Cordrey, managing director at Prudential Investment Management in New Jersey.
Much of the focus again was Argentina, whose long-term sovereign credit
rating yesterday was cut by Standard & Poor's to single-B-minus from
single-B.
S&P said the ratings outlook for Argentina remained negative and cited
"growing strain on the cohesion of the governing coalition and the risk that
it may impede efforts by Economy Minister Domingo Cavallo to implement
draconian measures to balance the federal budget."
That country is "just looking worse and worse every time you turn around,"
said Drew Matus, market economist with Lehman Brothers in New York.
Despite indications that Argentine officials are trying to win agreement on
spending cuts, investors remained nervous about the nation's ability to
service its large external debt burden. Prices of Argentine floating-rate
bonds fell about 103/8 points to 623/8.
In U.S. Treasury trading, meanwhile, the benchmark 10-year note at 4 p.m. EDT
was up 8/32 point, or $2.50 per $1,000 face value, at 98 6/32. Its yield fell
to 5.242% from 5.276% late Wednesday, as yields move inversely to prices.
The 30-year Treasury bond's price was up 14/32 at 96 1/32 to yield 5.652%,
down from 5.684% Wednesday.
Shorter Treasury maturities preformed less strongly than longer ones, and
analysts cited gains in stocks as a reason.
The Dow Jones Industrial Average surged 237.97 points to 10478.99, and the
Nasdaq Composite Index jumped 103.70 points to 2,075.74. Treasurys are being
"pulled in two directions, and the stock market is winning in the [short]
end," said Richard Gilhooly, senior bond strategist at Paribas Capital
Markets in New York.
Another factor bolstering Treasurys was economic news. In two early releases,
the Labor Department reported both a huge rise in claims for state
unemployment benefits and slightly lower prices for imported goods.
The number of workers filing first-time applications for jobless benefits
jumped by 42,000 to 445,000 in the week ended July 7, the highest level since
about mid-1992. That raised the four-week moving average to 410,750 claims.
Today, two other economic reports may dominate the attention of bond
investors: the producer price index and retail sales, both for June.
A Dow Jones Newswires/CNBC survey found that economists believe the PPI was
unchanged in June and will show a slight 0.1% increase in the month excluding
food and energy. "The friendly inflation news should help to keep a bid in
long [dated] Treasurys," said Gemma Wright, a bond-market strategist at
Barclays Capital in New York.
A separate Dow Jones Newswires poll found that economists expect to see a
0.3% rise in overall retail sales in June, or a 0.2% sales gain excluding
automobiles.
Corporate Bonds
Marlin Water Trust II sold $475 million and 515 million euros ($439 million)
of securities via Credit Suisse First Boston and Deutsche Banc Alex. Brown.
In 1998, Enron Corp. created a special-purpose entity, to finance the
purchase of water utility Wessex Water PLC of the United Kingdom. Yesterday's
issue was a refinancing of that debt, but was done in a way that keeps the
debt off Enron's balance sheet, underwriting officials said.
The U.S. portion of the deal was priced to yield 6.31%, or 2.25 percentage
points over Treasurys. In early trading, it was quoted at 2.25 percentage
points over Treasurys, which was "reasonably positive on a day when the
corporate market was so jittery," said Stephen Kane, portfolio manager at
Metropolitan West Asset Management.
Generally, investment-grade corporate bonds weakened on concerns about
emerging markets. Yield margins to Treasurys, an important performance gauge,
widened by 0.05 to 0.10 percentage point.
Separately, Citigroup Inc. tapped the market with $2 billion of two-year
global floating-rate notes priced to yield 0.09 percentage point over
three-month London interbank offered rate, or Libor.
Agency Securities
Fannie Mae sold $2.5 billion of callable benchmark securities, which traded
strongly afterward.
Its $1.5 billion of 5.5%, five-year notes yielded 5.5657%, or 0.05 percentage
point over the Fannie Mae benchmark level on an option-adjusted spread basis.
An additional $1 billion of 6.25%, 10-year notes yielded 6.408%, or 0.03
percentage point over the Fannie Mae benchmark level on an option-adjusted
basis.
Scott Graham, head of agency trading at Greenwich Capital Markets, said his
company saw "a number of customers" who don't typically consider callable
issues, but were nonetheless looking to buy some of the new securities.
---
Sonja Ryst, Richard A. Bravo and Tyler Lifton contributed to this article.

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

California; Metro Desk
THE ENERGY CRISIS Some State Energy Consultants Own Generators' Stock Ethics:
They negotiate deals and buy electricity from power firms. GOP officials
claim credit for forcing the disclosure of potential conflict.
ERIC BAILEY
TIMES STAFF WRITER

07/13/2001
Los Angeles Times
Home Edition
B-10
Copyright 2001 / The Times Mirror Company

SACRAMENTO -- More than half a dozen consultants hired by the state to
purchase electricity and to negotiate long-term power deals own stock in
generating companies such as Calpine and Enron that have profited handsomely
during California's energy crisis.
The potential conflict of interest emerged Thursday with the release of
financial disclosure statements by consultants who have been hired by the
state since the start of the power crunch.
Among those disclosing stock ownership were two key negotiators of long-term
energy contracts and two workers hired to purchase electricity from
generators, including some of the firms in which they hold an interest.
Several other consultants who played key roles in the state's energy efforts
decided not to file financial disclosure statements, citing legal exemptions
under state law.
Among those who did not file the financial disclosure statements were a pair
of executives at two Wall Street firms that stand to make $14 million if the
state buys California's power grid. Of about 50 consultants hired by the
state in the past six months, 27 filed the disclosures.
The disclosures follow a firestorm in Sacramento last month over the hiring
by Gov. Gray Davis of two media consultants also employed by Southern
California Edison, the troubled utility that is negotiating with the state
over a bailout package.
Steve Maviglio, a Davis spokesman, said the governor's legal staff was
reviewing the financial disclosure forms for any potential conflicts of
interest.
"If there's anything inappropriate," Maviglio said, "then we'll deal with
it."
Republicans, however, said the hired workers had revealed overt conflicts
that clearly violated state law.
Secretary of State Bill Jones, a Republican running for governor against
Davis next year, said the revelations call into question the work performed
by the consultants on high-priced energy contracts that are "going to
mortgage our children's future for decades to come."
"If you show a conflict, the potential is there for collusion," Jones said.
"I'm not accusing anyone, but that's why you have disclosure."
Rob Stutzman, a state GOP spokesman, said he was particularly troubled
because the consultants had delayed filing the disclosure forms for months.
Under state law, the forms are supposed to be submitted within 30 days after
the consultants go to work for the state.
Most of the energy consultants, who could not be reached for comment,
reported owning relatively small amounts of stock in energy firms, generally
less than $10,000.
But one of the new workers, William Mead, disclosed that he owned between
$100,000 and$1 million in Calpine, a San Jose-based energy firm. Mead did not
report when the stock had been purchased.
Only one of the contractors reported selling off stock after coming to work
for the state.
Vikram Budhraja, president of Pasadena-based Electric Power Group LLC, on
Jan. 11 purchased between $10,000 and $100,000 in stock of Dynegy, a
electricity and natural gas producer. He sold it off on Jan. 29, 10 days
after he came to work for the state. Budhraja has been a top negotiator of
the state's long-term energy contracts, which have included a deal concluded
March 2 with Dynegy.
Richard Ferreira, a retired Sacramento Utility District executive hired by
the state to negotiate long-term power contracts, reported the purchase of
between $2,000 and $10,000 of stock in Calpine, a San Jose-based energy firm,
in August 2000. He also purchased a similar amount of stock in General
Electric Co., which produces power plant equipment, in April 2000.
Bernard Barretto, an energy trader, reported that he owned an undisclosed
amount of stock in Enron Corp., a big Texas-based energy firm. Elaine Griffin
purchased between $10,000 and $100,000 in Calpine stock on Feb. 1, less than
three weeks before she came to work for the state as an energy trader.
Constantine Louie, an energy scheduler, reported owning between $10,000 and
$100,000 in Calpine stock.
Republicans took credit for forcing the Davis administration to file the
reports, a charge the governor's office brushed aside.
Jones, the secretary of state, held a news conference Tuesday to complain
about the failure of nearly all the state's energy consultants to file any
sort of financial disclosure forms. The statements were only made available
late in the afternoon Thursday, months after many consultants went to work
for the state.
Maviglio, the governor's spokesman, said the delays were explained in part by
negotiations that began in March with the Fair Political Practices
Commission, the state's ethics watchdog, to determine if the consultants were
required to file the forms.
He also suggested that Jones' accusations were fueled more by campaign
politics than any devotion to constitutional duty.
"One needs to question why the secretary of state is using taxpayer money to
investigate something beyond his jurisdiction," Maviglio said. "That's why we
have an FPPC, to look at these kinds of things."

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

California; Metro Desk
THE ENERGY CRISIS Plan Uses Public in Refund Demand Legislature: Democrats'
proposal to pressure 'greedy' firms is attacked by GOP as political ploy.
CARL INGRAM
TIMES STAFF WRITER

07/13/2001
Los Angeles Times
Home Edition
B-10
Copyright 2001 / The Times Mirror Company

SACRAMENTO -- The Democratic-led state Senate intends to fill constituent
mailboxes with a taxpayer-financed appeal urging Californians to demand
nearly $9 billion in energy price refunds from "greedy out-of-state power
generators."
Senate leader John Burton (D-San Francisco) said the mailers will ask
Californians to join the Senate and Gov. Gray Davis in insisting that the
Federal Energy Regulatory Commission order the refunds of alleged overcharges.
Senate Democrats set the high target despite a federal mediator's ruling
against Davis earlier this week. The mediator said California would be
entitled to only about $1 billion in generator overcharges, not the $8.9
billion that Davis has fought for.
Senate officers said the cost of the mail campaign will be paid from the
budgets of senators, at taxpayer expense, as part of the Legislature's
constituent service mail program.
But Republicans attacked the mailer as political propaganda that may violate
state law and Senate policy barring issuance of "partisan" documents at
public expense.
Sketchy details of the quietly developed project surfaced on the Senate floor
Thursday. Staffers who worked on it said it was virtually impossible to
calculate the program's cost.
But they indicated that if all 26 Democrats agreed to send up to 30,000
mailers each to constituents, the postage alone would cost $140,400.
If each mass mailing exceeded 30,000 pieces, a higher postage rate would
apply, raising the cost, officials said.
In the mailer, constituents are asked to return an attached card to their
state senator, urging "full refunds of the outrageous prices charged by the
greedy out-of-state power generators."
Cynthia Lavagetto, manager of the Senate mail program, said each member will
decide what do do with the returned cards, including simply filing them or
sending them on to FERC.
Lavagetto said a prototype mailer was prepared with the help of the Select
Committee on Citizen Participation, a panel that has no chairman or members,
since it has not been activated this year. But it does maintain an office and
has three staffers on the Senate payroll.
Burton dismissed the Republican charges of partisanship as baseless. "We do
this all the time on a variety of issues," he said. "We're saying, 'Stop
stealing California's money.' "
But Sen. Ross Johnson of Irvine, the Senate's senior Republican, denounced
the mailing as clearly partisan. He said it appeared to reflect a developing
2002 election strategy of Davis and Democrats to blame the FERC and
out-of-state generators for California's energy mess.
"I seriously question the appropriateness of using taxpayer money to get
people to lobby [for the refunds]," Johnson said.
Johnson and Sen. Ray Haynes (R-Riverside) suggested that Democrats turn their
criticism to municipal utilities, including the Los Angeles Department of
Water and Power. Some utilities charged the state even higher prices last
winter than did private generators.
"Why are they not attacking the DWP?" Johnson asked.
He noted that S. David Freeman was running the DWP at the time some of its
highest prices were charged to the state, which is buying power for
California's financially crippled utilities. Later, Davis hired Freeman as
his top energy price negotiator.
"Doesn't David Freeman more properly belong in that same jail cell as the guy
called Spike than he does in the governor's office?" Johnson asked.
"Spike" has become a character in the California energy debate, thanks to
Atty. Gen. Bill Lockyer, who is investigating whether power sellers engaged
in price-gouging and antitrust behavior.
In an interview with the Wall Street Journal in May, Lockyer said he would
"love to personally escort [Enron Corp. Chairman Kenneth] Lay to an 8-by-10
cell that he could share with a tattooed dude who says, 'Hi. My name is
Spike, honey.' "

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

COMPANIES & FINANCE THE AMERICAS - Surging energy sales behind Enron advance.
By JULIE EARLE.

07/13/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved

Enron, the US energy trader, yesterday posted a 40 per cent rise in
second-quarter profits to $404m, due to surging gas and electricity sales in
North America and Europe.
The Houston-based company also said it would continue to grow aggressively in
Europe and seize any opportunities to expand in the US, after regulators on
Wednesday ordered the formation of an organisation to open the North American
electricity market.
Jeff Skilling, Enron chief executive, said the company had its sights set on
Europe for strong earnings growth, which it hopes will eventually match North
America.
The company's wholesale business unit, the group's main profit driver,
derives 70 per cent of its business from North America.
"We see more growth opportunity in Europe than in North America. Gas volumes
are up more than 100 per cent (in the quarter)," Mr Skilling said. "The gas
and electric market in Europe is almost as big as North America and we got an
early start."
Mr Skilling said a decision by the Federal Energy Regulatory Commission to
order the formation of four grid organisations to optimise the transmission
of electricity in parts of the US was hugely important.
He estimated only 20 per cent of the wholesale market for electricity could
be accessed and the decision would take this to 90-95 per cent.
Mr Skilling said Enron, which has transformed itself from a pipeline company
into a large energy trader, was focused on its volumes, not revenues, which
jumped to $50.1bn in the quarter, from $16.9bn a year ago.
The only poor performer was the broadband division, which trades space on
fibre-optic networks. The unit posted a loss of $102m in the quarter, against
an $8m loss a year ago, and the company said it would cut costs there.
Enron's result of $404m, or 45 cents a share, compared with $289m, or 34
cents, in the same quarter a year ago.
Analysts had been expecting 42 cents a share.
By the close in New York, the company's shares were trading 45 cents higher
to $49.55. See Lex.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.

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

Lex - Enron.

07/13/2001
Financial Times - FT.com
(c) 2001 Financial Times Limited . All Rights Reserved

Be careful of the company you keep. Having enjoyed its status as a
telecommunications play last year, Enron is now suffering with its new
friends. The US energy trader has dropped by 40 per cent since the start of
the year - underperforming the market by a third - despite the earnings
momentum in its core energy trading business.
A 40 per cent increase in net income in the second quarter, even allowing for
inevitable questions over earnings quality, is impressive. The strength of
the energy trading business, with volumes up by almost 60 per cent, is more
than enough to offset the misery in the broadband trading business.
However, the broadband division's $102m losses are shocking, even in these
difficult times. The market has collapsed, partly owing to credit problems in
the telecoms sector. Enron's cost base is completely out of kilter with the
opportunity. At least it should not be too hard to put that right. Actual
investment in assets is limited; and by reallocating staff to the
fast-growing energy trading divisions, restructuring costs can be kept to a
minimum.
Broadband is not the only worry. California's troubles have not affected
trading volumes, but regulatory risk remains, while promises on asset sales
have not been met. Trading on 23 times 2002 forecast earnings, the valuation
looks fair for a fast-growing trading company. The upside lies in convincing
investors to give the company more credit for its value-added risk management
services. The long-term potential of broadband trading, meanwhile, is thrown
in for free.
(c) Copyright Financial Times Group.
http://www.ft.com.

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

UK: Paladin says Enron sells entire stake.

07/13/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, July 13 (Reuters) - UK oil and exploration company Paladin Resources
said on Friday that U.S. energy firm Enron had sold the whole of its 19
percent holding.
Enron, which was Paladin's largest shareholder, sold its stake of 40 million
shares at 44 pence via HSBC.
A Paladin spokesman said the move would increase liquidity and broaden its
shareholder base.

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

White House adviser targeted for dealings with Salvation Army
By RON FOURNIER
AP White House Correspondent

07/13/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

WASHINGTON (AP) - Senior White House adviser Karl Rove, increasingly a target
of criticism from Democrats and Republicans, wound up at the center of a new
storm over his dealings with the Salvation Army.
White House aides rallied to his side, and Rove was unapologetic. But
Democratic National Committee chairman Terry McAuliffe called for
congressional hearings.
"I think the truth needs to come out," McAuliffe said Thursday. "Let's have
hearings and get to the bottom of this."
At issue was the Salvation Army's push for a regulation allowing religious
charities to practice workplace discrimination against gays, and Rove's
actions on behalf of the group. Rove said he was simply doing his job.
While McAuliffe called for hearings, Senate Majority Leader Tom Daschle,
D-S.D., seemed less riled. "Karl Rove is a very respected individual and I
wouldn't have any comment to make," Daschle said.
Thursday's flap was not the first for Rove, who oversees politics, strategy
and public liaison at the White House.
When Sen. James Jeffords bolted the GOP and turned the Senate over to
Democrats last month, Republicans accused Rove of alienating the Vermont
lawmaker during the tax-cut debate. He was fingered, too, for not warning
Bush earlier that Jeffords might jump ship.
When Rove sat in White House meetings on policy that could impact his stock
portfolio, Democrats demanded to know whether his holdings with Houston-based
Enron Corp. and Intel Corp. created a conflict of interest.
When Bush crossed some military advisers and suspended Navy bombing on the
Puerto Rican island of Vieques, Rove's involvement in the case was held up as
proof by critics that the decision was politically-motivated.
Rove's involvement in the Salvation Army case has stirred debate in
Republican and Democratic circles about whether he wields too much power and
is too political for the White House.
The White House rejected the Salvation Army's request Wednesday, but only
after the revelation of an embarrassing Salvation Army memo. The memo said
the administration had promised to issue a regulation protecting it and other
religious charities from efforts to prevent such discrimination in exchange
for the Salvation Army's support of Bush's plan to open government programs
to religious groups.
White House officials left the impression that no senior officials were
involved in the discussions, failing to point out Rove's activity until
Thursday.
In a telephone interview, Rove said he recalled having just three or four
brief discussions on the topic. He received a request from a Salvation Army
ally to looked into the rule, sent the ally to the White House faith-based
office, forwarded the written request to a government lawyer and was told
later by the lawyer, "We're not certain there's anything we can do."
The lawyer, Jay Lefkowitz, told reporters the request lay dormant after his
discussion with Rove.
Rove rejected the criticism. "My job is not to say, `Don't send me something
or call me.' My job is to keep my eyes and ears open and send things to the
appropriate departments," he said.
Some top Republicans outside the White House said Rove has become a
lightening rod.
"Part of his role is to be a deflection shield for the president," said GOP
consultant Rich Bond. "Everytime Karl takes a hit, it's one less hit the
president has to take. Karl knows that and he is a big boy."
Aides say the president is not troubled by Rove's actions, even joking about
the controversies.
White House chief of staff Andrew Card also defended Rove.
"I may be naive, but we have no problem of division on the senior level,"
said Card. "I was in the Reagan White House when we had three clear camps ...
We don't have that here."
Aides do acknowledge, however, that there is some resentment of Rove in the
lower ranks of the White House. Some grumbled that Rove did not let White
House press secretary Ari Fleischer know Wednesday about his involvement in
the Salvation Army case. Others, still tired from a tough campaign and
frustrated by their new jobs, said they resent Rove's wide reach.

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

UK: Bidder list for Southern Water grows-report.

07/13/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, July 13 (Reuters) - More potential bidders have emerged that may
challenge Italian utility ENEL for Southern Water, the British regional
utility put up for sale by its parent Scottish Power Plc earlier this year, a
trade magazine reported on Friday.
Utility Week said British gas and homes services retailer Centrica had teamed
up with French utility Vivendi Environnement , which already owns UK water
assets, "to consider a bid".
But it cited unnamed sources saying the German-owned investment bank WestLB
Panmure, which was behind a management buyout of Southern Water's neighbour
Mid Kent Water earlier this year, had "emerged as front-runner in the past
week".
ENEL has said it is interested, and according to Reuters' industry sources
Scottish Power's floor price is 1.7 billion pounds ($2.4 billion) excluding
any attached debt.
Scottish Power said in March the business was for sale.
It needs the cash to help fund its own plans for expansion in the United
States, where industry sources say it has held talks on buying Portland
General, a power utility owned by Enron Corp , which neighbours the UK
group's own PacifiCorp arm.

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

DPC not to re-start work on Phase II work
Our Regional Bureau NEW DELHI

07/13/2001
Business Standard
3
Copyright (c) Business Standard

Enron-promoted Dabhol Power Company (DPC) today said that Enron Corp chairman
Kenneth Lay during his meetings with the Centre and the Maharashtra
government had not agreed to any proposal to complete the construction of
phase-II of the power project.
"Dabhol Power Company believes that a decision to recommence construction
cannot be made unless various issues relating to the project are completely
resolved," DPC said in a statement.
It said that any discussion that Lay had on recommending construction of
phase-II was in the context of the current uncertainties surrounding the
project.
DPC said that contractors working on the project resorted to termination due
to non-payment of their dues as lenders had stopped disbursing funds.
"This decision was taken as a result of continuing defaults by MSEB
(Maharashtra State Electricity Board), including MSEB's repudiation of the
PPA, their failure to pay outstanding invoices and their stated unwillingness
to accept phase-II power, as well as failure of the government guarantors to
honour their payment guarantees," said the statement.
It added that the situation had not changed.

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

California Power Bills Exceed Refunds, Judge Says (Update4)
2001-07-12 21:40 (New York)

California Power Bills Exceed Refunds, Judge Says (Update4)

     (Adds legislator comment in sixth paragraph, details from
judge in 11th paragraph, negotiator comment in 12th paragraph.)

     Washington, July 12 (Bloomberg) -- California's debts to
power sellers for electricity purchases exceed any refund the
state can claim for alleged overcharging, a judge overseeing
settlement talks said in a report to federal regulators.
     California and its utilities may be owed more than $1 billion
on claims generators overcharged them, Administrative Law Judge
Curtis Wagner wrote in a report to the Federal Energy Regulatory
Commission. California alleges power sellers like Duke Energy
Corp., Enron Corp. illegally inflated prices by $8.9 billion.
     ``While there are vast sums due for overcharges, there are
even larger amounts owed to energy sellers'' by California and its
utilities, Wagner wrote. He said the state is owed ``hundreds of
millions of dollars, probably more than a billion dollars.''
     The decision strengthens the generators' claim that the
state's request for billions isn't supported by the facts. Energy
companies have offered a total of $716 million in refunds to the
state, Wagner said.
     FERC-ordered negotiations between the state and the energy
sellers broke down without an agreement this week. FERC will
decide on the size of refunds within 60 days. California Governor
Gray Davis has said the state will sue if it does not receive the
refunds it demanded.
     ``I find it unlikely that someone will not be unhappy enough
to go to court,'' said State Senator Debra Bowen, a Democrat from
Los Angeles. ``There's too much money at stake.''

                         Wagner's Report

     FERC will use Wagner's report to calculate the size of any
refunds. California could receive refunds in the form of credit
against power-buying debts. In his report, Wagner didn't say how
much the state and its utilities owe to power companies.
     ``Can a cash refund be required where a much larger amount is
due the seller? The chief judge thinks not,'' wrote Wagner, who is
FERC's chief administrative law judge.
     Wagner provided suggestions to the FERC commissioners on how
to set any refunds. He urged that they calculate potential
overcharges beginning October 2000. California had urged the
settlement be figured from May 2000.
     Davis criticized that decision, calling it ``a $3 billion
free gouge for the generators'' in a statement released by his
office.
     The judge said California had rejected a settlement offer he
made during the talks. He did not say what that settlement offer
was. He said California would not budge from its initial demand.
He also said California did not provide him some of the background
information he requested until this week.
     ``If we had more time we might have been able to respond more
quickly, but we did the best we could,'' said Michael Kahn,
chairman of the Independent System Operator, the state's electric
grid manager. He led the state delegation.

                    Heart of Dispute

     At the heart of the dispute are federal regulations that
require power sellers to charge only those rates deemed by federal
regulators to be ``just and reasonable.'' FERC had price caps in
place when some of the disputed power purchases were made.
     Energy companies claim that rising natural-gas prices and a
lack of adequate supply pushed prices up. The state accuses the
companies reaping unreasonable profits.
     Davis has made attacks on power generators a staple of his
response to the energy crisis, and has accused them of gouging the
state in dozens of speeches since January. He said that if the
state isn't paid $8.9 billion, it would sue for up to $20 billion.
     Energy executives accuse Davis and California political
leaders of attempting to scapegoat the energy companies for a
failed deregulation plan that led to soaring wholesale prices last
year. The state's largest two utilities can't pay for their power.
     ``It's pretty clear that the state has no particular interest
in resolving this,'' Enron Chief Executive Jeffrey Skilling said
in an interview with Bloomberg News. ``It makes for good political
fodder, and so I think they'll spend a lot of time making a lot of
noise about it.''
     Several other energy companies praised the judge's
recommendations.
     ``We agree with the judge's position that the $8.9 billion
refund number is totally unsubstantiated,'' Duke Energy Corp.
spokesman Tom Williams said.
     PG&E Corp.'s Pacific Gas & Electric and Edison
International's Southern California Edison, the state's largest
investor-owned utilities, ran up more than $14 billion in debt
buying electricity last year. The state stepped in and began
buying power for them in January, and has spent more than $7
billion.

California Governor Casts Blame for Crisis, to His Benefit
2001-07-13 03:03 (New York)

California Governor Casts Blame for Crisis, to His Benefit

     San Francisco, July 13 (Bloomberg) -- California Governor
Gray Davis's popularity is bouncing back, and pollsters credit the
Democratic lawmaker's campaign to blame the state's energy
problems on out-of-state power companies.
     Davis has criticized Duke Energy Corp., Enron Corp. and other
power sellers as price gougers since January. This week, Davis
used a power-plant opening as a platform to claim that energy
sellers are ``bleeding us dry.'' The Democratic state attorney
general and Democratic-controlled state Senate are investigating
the firms for market manipulation.
     The governor is winning support because of his attacks. A Los
Angeles Times poll in June showed that 86 percent of Californians
believed power generators distorted prices. Davis's approval
rating rose to 52 percent of registered voters in June, from 46
percent in early April, his lowest since being elected in 1998,
his pollster, Paul Maslin, found.
     ``Gray Davis is very good at licking his fingers and seeing
which way the political winds blow,'' said Bruce Cain, a political
science professor at the University of California at Berkeley.
``And he's found good villains.''

                    Outlook for Settlement

     The politics may make it harder for the state to reach a
settlement with energy companies for claims they overcharged the
state by $8.9 billion, analysts say. A federal judge overseeing
settlement talks said the state is owed far less. Davis says the
state will sue for $18 billion if its demands aren't met.
     ``There is no way you are going to get any kind of agreement
from someone making such audacious claims,'' said Donato Eassey,
an energy analyst at Merrill Lynch & Co. in Houston.
     The refunds may be secondary to Davis's effort to be re-
elected in 2002, a victory that political analysts say position
him as a contender for national office in 2004.
     ``He's in good shape going into 2002, and if he wins, there's
the inevitable speculation about whether he eyes a run for
president in 2004,'' Cain said.
     Just months ago, Davis's public approval ratings were at
their lowest point since he was elected, according to a Field
Institute poll in April.
     PG&E Corp.'s utility, the state's largest, was in bankruptcy.
Wholesale-power prices were rising, and millions of Californians
lost power in a string of blackouts caused by reduced power
reserves.

                         Governor Rebounds

     The governor was widely criticized for failing to act swiftly
to end the crisis. Now Davis seems to be recovering, analysts
said.
     While vilifying the power companies, the first-term governor
has also been spearheading the state's response to the energy
crisis. He has created a team to negotiate a financial rescue
package to save Edison International's Southern California Edison
utility from bankruptcy, started an $800 energy conservation drive
and pushed for more power plants to be built.
     The energy companies lashed back at Davis this week. A
spokesman for Enron Corp., the world's largest energy trader,
accused Davis and California leaders of conducting a political
``witch hunt.''
     ``The last thing they want to do is take responsibility for
the problem they created,'' Enron spokesman Mark Palmer said.
``They set about looking for the biggest villains.''
     Enron filed suit against a California state Senate committee
investigating allegations of market manipulation, accusing the
panel and its Democratic chairman in a letter of seeking a
``scapegoat'' for a failed deregulation law.

                   Plotting his Response

     Davis began plotting his response to the crisis almost
immediately after it became public in January, said Garry South,
his chief political strategist. Step one, Davis aides said, was to
blame the energy companies that were profiting from the state's
woes. Davis targeted a half-dozen companies. In addition to Enron
and Duke, Mirant Corp., Reliant Energy Inc., and Williams Cos.
were placed in the crosshairs.
     ``There was a group of perpetrators from out of state
manipulating this system and screwing consumers,'' South said.
``We had to explain how this thing happened.''
     Republicans criticize Davis for inaction on the crisis, while
acknowledging he is favored to win re-election going into next
year's campaign.
     He leads three potential rivals -- Secretary of State Bill
Jones, banker William Simon, the son of former Treasury Secretary
William Simon, and former Los Angeles Mayor Richard Riordan,
according to the Times poll of 1,541 state residents conducted
June 23-26.
     ``He will be the favorite,'' said Rob Stutzman, a consultant
for the California Republican Party.

                         Worries Ahead

     Davis still has worries as the state struggles to address the
energy crisis, analysts say.
     PG&E Corp.'s Pacific Gas & Electric filed for bankruptcy in
April. Edison International's Southern California Edison, the No.
2 utility, is struggling to overcome legislative opposition to the
financial-rescue package negotiated by Davis.
     Davis may be blamed, analysts say, if the state Legislature
refuses to ratify the rescue plan for Edison and the utility files
for bankruptcy. Republicans and many Democrats in the Legislature
oppose the agreement, known as a memorandum of understanding.
     ``The MOU's dead, and the likely scenario is for the utility
is to go into bankruptcy,'' said Peter Navarro, an associate
professor of economics and public management at the University of
California at Irvine.
     California voters may receive unpleasant reminders of the
crisis all summer. The state has already suffered through six days
of rolling blackouts, and more are predicted.
     ``As soon as the lights go out, it's Gray's fault,'' Navarro
said.


Hi Dr. Leerburger,

Thanks for your feedback.  I know how busy you must be - I have three kids (7,5 and 2) so I realize how precious time off is.  I applyed to DIA, NSA and CIA about three weeks ago.  I got letters back stating my application had been recieved.  The DIA said I have been put into their applicant pool.  My company (Enron) has offered me a position in London managing a trading desk for crude oil and refined products.  They want me to move over in January or Febuary, so hopefully I'll know something before then.  If I'm not offered anything by then, I'll probably go and plan on applying to Georgetown in one to two years.  I really hope I'm offered a position now - London would be interesting - but with everything that is going on now, I'd rather start this new career now.

Thanks again for your feedback and I hope to speak with you when time permits.  If you are teaching the Threat Assesment course at AMU Spring 2002, I'll probably be in your class.

Sincerely,

Larry May

 -----Original Message-----
From: 	drmahl@erols.com@ENRON
Sent:	Friday, October 05, 2001 7:53 PM
To:	May, Larry
Subject:	Re: Larry May - AMU Student

Hi Larry;

First, I find the work to be exceedingly rewarding, and addictive. I have been working in the
community for 17 years, and have found that I am listened to, allowed to speak and take
risks, and allowed to provide realtime assistance to the top policy makers in our country.
My frustrations are that at times, I would like to enact action quickly, and often have to wait
for others to add their pieces to the puzzle, or for a chain of command to look at my ideas (I
am a GS-14 in a GS-15/DISL job). For someone like me, that's hard!

I would think your background WOULD make you a viable candidate, and would recommend that
you apply to CIA, DIA, and NSA, among others. Yuo can apply directly through each of their
websites. ALL are hiring.

Georgetown's program is terrific. I went there. JMIC is okay, but I think Georgetown would
give you what you really need. Georgetown's National Security Studies Program is TOP.

I'd be more than happy to speak with you, but recommend waiting a bit. My time is not really
my own these days,and I am currently working 7 days a week, literally (my last day off was
9 September), often 12-16 hours a day. When I get home, I do my school work, and play with my kids.
That doesn't leave much time! Let's see if things calm down in a week or so?

marian

"May, Larry" wrote:

> Dear Dr. Leerburger,
>
> Thank you for your response.  As I wrote in my earlier note, I am
> seeking a career change into intelligence analysis. My work the last
> eleven years probably has a similar skill set - I basically process a
> great deal of information each day in order to arrive at decisions
> positioning a large commodity portfolio for my company.  As you may see
> from my resume and cover letter, I also have several years of military
> experience in the Navy's aviation and intelligence communities
>
> Given the serious nature of this career change, I wish to speak to
> someone currently working in this field (I read your biography on the
> AMU website ).  My questions include:
>
>  - Do you find the work to be rewarding?  What are the attractions and
> frustrations of the work?
>  - Does my current background make me an attractive candidate for a
> mid-level position in the intelligence community?
>  - If my background is currently lacking in some respects, would a
> graduate level program (I'm applying to both the DIA JMIC      program
> and Georgetown's Security Studies MA program) be a good choice?  How do
> these programs rate within the intelligence community?
>
> If convenient, I would like to speak with you concerning these
> questions.  I thank you for any assistance you may provide.
>
> Sincerely,
>
> Lawrence May
> 14542 Kentley Orchard Ln.
> Cypress, Texas 77429
> Home: 281 379-1525  email: ljnmay@aol.com
> Work: 713 853-6731  email: larry.may@enron.com
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
> **********************************************************************


CALENDAR ENTRY:	INVITATION

Description:
	Do Not Delete - Repeat parent for EB3084 System Status Meeting w/ Thresa Allen

Date:		5/2/2000
Time:		2:00 PM - 3:00 PM (Central Standard Time)

Meeting Dates:
	5/2/2000, 5/16/2000, 5/30/2000, 6/13/2000, 6/27/2000, 7/11/2000, 7/25/2000

Detailed Description:


We have become increasingly concerned about confidential information
(dpr/position info, curves, validations/stress tests, etc) being passed to
Arthur Andersen for audit purposes over the Web to their Arthur Andersen
email addresses. (necessary now they no longer have access to Enron's
internal email system)

Please use the folder described below when passing any info (that you would
have concerns about if it was picked up by a third party) via the shared
drive that has been set up for this specific purpose.

Note:  AA should also use the shared drive to pass info back if there are
questions, or the data needs updating.  We should also consider the
sensitivity of audit findings and special presentations if they are being
distributed electronically.

Please pass this note to others in your groups who have the need to pass info
back and forth.

Details on how to access for those who will use this method to pass info:

A secured folder has been set up on the "o" drive under Corporate called
Arthur_Andersen (O:\Corporate\Arthur_Anderson).  Please post all confidential
files in this folder rather than emailing the files to their company email
address.  If you need access to this folder, submit an eRequest through the
IT Central site: http://itcentral.enron.com/Data/Services/SecurityRequests/.
Arthur Andersen will be able to retrieve these files for review with their
terminal server access at the Three Allen Center location.

Please contact Vanessa Schulte if you have any problems or questions

Beth Apollo


I sent you the regular online approval by mistake.  Below are clickpaper.

----- Forwarded by Tana Jones/HOU/ECT on 12/11/2000 11:36 AM -----

	Tana Jones
	12/11/2000 11:19 AM

		 To: Camille Gerard/Corp/Enron@ENRON, Noel Petterson/Corp/Enron@Enron, Frank
L Davis/HOU/ECT@ECT
		 cc:
		 Subject: ClickPaper Approvals for 11/30/00


fyi
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/09/2001
10:59 AM ---------------------------

Cheryl Blissitte <bliss@camh.org> on 01/08/2001 05:22:41 AM
Please respond to Cheryl Blissitte <bliss@camh.org>
To: Edward Allen <eallen@eagleglobal.com>, Bernard Arocha <barocha@msn.com>,
Ellie Beard <ecabeard@aol.com>, Toni Beauchamp <TONIBEAUCHAMP@YAHOO.COM>,
Fran Berg <fberg@swbell.net>, Deborah Brochstein <deborah@brochsteins.com>,
Brad Bucher <brad@gcchem.com>, Jeff Daly <jeffrey.daly@gs.com>, Chadwick Dodd
<cdodd@Jwortham.com>, Sara Dodd <sfpdodd@aol.com>, Stephen Finley
<steve.finley@bakerhughes.com>, Heidi Gerger <HMG60@aol.com>, William
Goldberg <wgoldberg@kpmg.com>, John Guess <jfguess@usa.net>, Dana Harper
<danarharper@aol.com>, Rachel Hecker <ritexdog@aol.com>, Bruce Herzog
<bherzog@genesis-park.com>, Louise Jamail <RobotRob@aol.com>, Jill Jewett
<TheJewetts@msn.com>, Leonard Jones <ljones@rfp-co.com>, "I.H. Kempner III"
<ihkempner@imperialsugar.com>, Carmen Knapp <sailby2@aol.com>, Elwyn Lee
<ECLee@uh.edu>, Marley Lott <marley_lott@bakerbotts.com>, Ginni Mithoff
<gmithoff@infohwy.com>, Angela Myres <asmyres@msn.com>, Evi Newar
<EviNew@aol.com>, Roy Nolen <roy.nolen@bakerbotts.com>, Robert Palmquist
<robert.p.palmquist@us.arthurandersen.com>, Annise Parker
<aparker@cnl.ci.houston.tx.us>, Jeff Shankman <jshankm@enron.com>, Charles
Smith <RSMCES@aol.com>, Reginald Smith <rsmith@kslaw.com>, Stephen Susman
<ssusman@susmangodfrey.com>, Laura Walls <lmorwalls@aol.com>, Kenneth
Williams <kmwilliams@frostbank.com>, Michael Zilkha <michael@zilkha.com>
cc:
Subject:

Dear Member of CAM Board of Trustees,

You may recall that several weeks ago we surveyed the Board members to
determine preferences regarding Board meeting times. We did this because we
have had several discussions with members who have great difficulty with the
4 pm or 4:30 pm meeting time.

Since the Board appears to be fairly evenly split between a noon meeting time
and a late afternoon meeting time (10 definitely prefer Noon; 10 definitely
prefer late afternoon; and 20 have no strong preference), we have decided to
try alternating the meetings.

Therefore, our next full board meeting, which is currently scheduled for
Monday, January 22 at 4 pm, will instead take place Monday, January 22 at
NOON (March meeting will take place at 4 pm).

Please note this change on your calendar and advise Cheryl Blissitte by
email, phone (713.284.8253) or fax (713.284.8275), whether or not you will be
attending. This is especially important as we will order sandwiches for this
Noon meeting.

Thanks.

Marti


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 08/07/2000
12:42 PM ---------------------------

	From:  Jay Reitmeyer                           08/07/2000 10:39 AM

To: Phillip K Allen/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect
cc:
Subject: New Socal Curves


can we leave yet,


Enclosed is the latest and hopefully last revisions to the EAuction
proposal.  The key changes are:

1. Auction is now only open 3 days instead of 4.

2. The Enron SO2 trading desk will now not know the bids and offers from the
counterparties participating in the auction until after the auction is
closed.  The Enron SO2 desk will learn of the bids and offers after the
bidding is closed and prior to notification of successful bids and offers.
The auction will be administered by a bona fide third party like Arthur
Anderson.

3. The request for the promotional award of a Vegas vacation has been dropped!


YEAH FRIDAY!  HOW ABOUT SOME ICE CREAM?????

WE WILL BE CELEBRATING THE "JUNE" (YES, JUNE) BIRTHDAYS TOMORROW IN EB38C2 AT
3:00 P.M.

I'LL SEND A REMINDER AND POST THE BIRTHDAYS ON THE DOOR.  JULY BIRTHDAYS WILL
BE CELEBRATED AT THE END OF THE MONTH.
SORRY FOR DELAY.  IT'S BEEN CRAZY, WHAT CAN I SAY?

BE THERE!


Please establish a spot ticket for United Oil & Minerals, Inc. at meter 5053
for January.  The ticket will be priced at 100% IF/HSC less $0.14 and provide
for 1,400 MMBtu/d.   This spot deal will be executed under Globla contract
96002441.

Please call if I can be of any additional assistance.

Thanks!

Donald
x37008


Darren:

 This is potential new volume for March , 2000:

 Counterparty  Meter   Volume   Mid Month Gas Daily?

 Cico Oil & Gas Co. TBA   2117 MMbtu per day Yes

 This number is NOT in Vance's production estimate. This well is anticipated
to come on the first week of March but earlier is possible.

 Please let me know if you need any additional information.

 Susan Smith x 33321


Gerald,
PGT
Can you go? You have the most current understanding of the PGT capacity, its
current rights and obligations.  I have a meeting at 3:30 that I could cut
short. What's your view.

Dan,
PG&E Texas (Valero)
Do you think that all the PG&E Texas transport is relevant to this Bankruptcy
Due Diligence issue since those assets should now be owned by El Paso?
Understanding what our rights are or are not as to prior periods imbalances
would be an interesting bankruptcy law exam given that ENA's been operating
under an "unexecuted" header/transport contract with PG&E Texas for the past
2 to 3 years.

Steve

----- Forwarded by Steve Van Hooser/HOU/ECT on 01/09/2001 01:05 PM -----

	Kaye Ellis
	01/09/2001 11:50 AM

		 To: Steve Van Hooser/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, Alan
Aronowitz/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Dan
J Hyvl/HOU/ECT@ECT, Nony Flores/HOU/ECT@ECT, sstack@enron.com@ECT, Travis
McCullough/HOU/ECT@ECT
		 cc: pradfor@enron.com, Joya Williams/HOU/ECT@ECT, Jenny Helton/HOU/ECT@ect,
Becky Spencer/HOU/ECT@ECT, Legal Temp 2/HOU/ECT@ECT
		 Subject: PG&E Due Diligence Effort

Per Shari Stack's previous email, the PG&E Due Diligence Effort meeting will
be held today at 4 pm in our new team meeting room - EB3872.

Please let me know if any of you have a conflict with this time.

Kaye
ext. 3-5968


********************[ A D V E R T I S E M E N T ]****************
Stay on top of the market with Prudential Securities and
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a 1-year subscription to The Wall Street Journal or
BARRON'S, FREE! http://www.money.com/prudentialsecurities
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SIVY ON STOCKS from money.com
November 17, 2000

Whirlybird

With the outlook so uncertain, it's time to hunt for value. And Textron, a
conglomerate that makes Cessna airplanes and Bell helicopters, fills the bill.

By Michael Sivy

The outcome of the election is still uncertain. So are the Fed's intentions
for interest rates. And the economy is the most uncertain of all. In such an
investing climate, it makes a lot of sense to add a little ballast to your
portfolio, in the form of value stocks. One of the most attractive picks
today is the industrial conglomerate ( [
http://quote.money.com/money/quote/qc?symbols=TXT ] )Textron.

Conglomerates are often penalized because analysts like companies they can
fit into specific industry groups. And Textron is tough to pigeonhole. The
company gets 40 percent of its operating earnings from industrial businesses;
30 percent from aircraft manufacturing, including Cessna airplanes and Bell
helicopters; 19 percent from automotive, and 11 percent from financial
services.
?
It's a broad mix, but all together, the pieces are producing solid results.
The aircraft division is flying highest, with revenue up 22 percent and
profits up 40 percent in the third quarter. The outlook is quite bright, with
order backlogs rising modestly for both Cessna airplanes and Bell
helicopters, and profit margins improving slightly. Prospects are also
attractive for the smallest division, financial services.
?
The other two divisions have been performing much less impressively because
of the developing economic slowdown. Automotive showed only a 1 percent
revenue gain in the third quarter. And though the industrial division managed
15 percent revenue growth in the quarter, income actually decreased 2
percent. In addition to the weak economy, a spate of recent acquisitions has
temporarily depressed that division's profitability.
?
Textron expects the economy to remain sluggish going into 2001. So to bolster
its results -- particularly for the industrial division -- Textron is
developing an extensive cost-cutting and restructuring plan to be implemented
over the next five quarters. Moreover, Textron has been steadily repurchasing
stock and intends to continue doing so. Because the price is so low -- the
stock is down 30 percent year-to-date -- those buybacks can contribute
significantly to growth in earnings per share.
?
For the third quarter, total earnings per share rose 14 percent. And with its
restructuring plans, Textron aims to maintain that rate over the next five
years. Currently the stock yields 2.4 percent, so Textron shareholders have a
good shot at a total return averaging as much as 16 percent annually.

Given those return prospects -- which beat both the market's long-term
average and the current outlook for the S&P 500 -- Textron looks like a
compelling choice for conservative investors. With a lot of exposure to
manufacturing, this conglomerate won't be immune to a prolonged economic
slowdown. But forecasts assume at least some sluggish economic patches and
the valuation is tough to beat. At $53.25 a share, the stock trades at 11.4
times this year's estimated earnings and only about 10 times next year's
projected results. There are electric utilities offering only half the growth
that trade for more.

###
Post your comments on Michael's column at:
http://www.money.com/depts/investing/sivy/index.html
To subscribe or unsubscribe to Sivy on Stocks, go to:
http://www.money.com/email/
Earning Releases and Calls
For the latest corporate earnings releases and online conference
calls click on: http://money.ccbn.com

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Yes!  on the illegality of retroactive suspension of DA

-----Original Message-----
From: Fairchild, Tracy [mailto:tracy.fairchild@edelman.com]
Sent: Friday, August 31, 2001 11:37 AM
To: 'arem@electric.com'
Cc: Manuel, Erica; Allen, Stevan; Warner, Jami; Denne, Karen
Subject: San Jose Mercury News Direct Access editorial

AReMers:

A heads up that Phil Yost at the SJ Mercury News is writing an editorial
based on our ed board pitch.  Look for it on Tuesday, September 4th.

Tracy Fairchild
Senior Account Supervisor
Edelman Public Relations Worldwide
tracy.fairchild@edelman.com
(916) 442-2331
(916) 447-8509 (fax)


is anyone from denver going?  let me know what the guest list looks like.  i
would love to go, but i need to check flights and all that stuff.


Chris,

We don't have yet any report on Broadband that might help you, developed
internally
by my group. We are working on a tutorial and we shall send you a copy when
it's ready.

The person who can give you an introduction  to this market is Ravi
Thuraisingham.

Vince

Chris Holmes@EES
04/05/2000 09:55 PM
Sent by: Chris Holmes@EES
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Chase

Vince:

 I am working now in EES as the Chase National Account manager and  am
developing new products to sell Chase. One of the products  I am working on
integrates the provision of broad band with  a  package of   computer
hardware and software for a company's employees.
I can explain more if you are interested.

I understand you put together a  report on Broadband which has helped educate
people as to the technology and economics. Can I get a copy?.

Also do you have any analyses on Chase that might help me  detect other
opportunities?

Is there anyone on your staff with whom I should talk?

Thanks

Chris


Hi:

I am the newly hired Safety and Environmental Supervisor at EGEMINSA,
Panama.  Please let us know if we can be of assistance to you or Sally in any
way.

Greetings.


[IMAGE] Forums Discuss these points in the Forums:  Forexnews Forum       Technicals Live Charts Analysis available from: Cornelius Luca   J.P. Chorek   Technical Research Ltd.   Charts & News featuring Standard & Poor's       Interest Rates   US: Japan: Eurozone: UK: Switzerland:   1.75%  0.15%  3.25%  4.0%  1.25-2.25%       [IMAGE] 	 [IMAGE]  Japanese Forex Trading Preview  February 10, 7:00 PM: EUR/$..0.8706 $/JPY..134.97 GBP/$..1.4131 $/CHF..1.6937  Japanese Forex Trading Preview by Darko Pavlovic  No key data.   The dollar is trading near its one-week highs vs. the yen, around 135, as the markets expressed their pessimism about Japanese economic outlook and concern that the government and the BoJ are behind the curve in boosting the growth. The BoJ left interest rates unchanged last week and did not announce any new measure to fight inflation and boost the growth. Even the government was hoping that the central bank would decide to raise purchases of JGBs or take other measures to pump more liquidity into the system. The Nihon Keizai reported that the government could inject more than10 trln yen until September, but with request that the central bank further ease monetary policy. Economic Minister Takenaka said that the plan could also deal with the launch of government fund to buy shares that banks hold in other companies. Finance Minister Shiokawa said Friday that he wants MoF to provide around 2 trln yen to buy stocks from banks and asked the central bank to raise monthly bond purchases to 1 trln yen. At G-7 meeting BoJ Governor Hayami said the central bank will support PM Koizumi's reforms  as much as possible . Support is viewed at 133.40, 133.0 and 132.65. Resistance is seen at 135.15 and 135.50.    At G7 Finance Minister's Meeting held this weekend in Ottawa, Canada, ministers showed enthusiasm about the US growth and said the economic outlook has improved since their last meeting. The G-7 did not talk about the weak yen and markets could be prompt to believe that fin ministers are comfortable with the current yen's level, which could bring the Japanese currency to new lows. Japanese officials talked about the steps necessary to get the country out of recession and their US counterpart O'Neill said ministers  were satisfied  with explanation. G 7 Ministers also refrained from promising any financial help to Argentina.   EUR/USD is trading around 87 cents after rising on Friday to a 2-week highs of 87.53 boosted by rise in German industrial production to 1.9% m/m from the previous -0.8%, or on an annual basis to -1.8% from the previous -4.8%, that foretells of a pickup in growth. Markets had been expecting a modest gain to 0.1%. EUR/USD ended down roughly 10 pips from its opening level, as the dollar benefited from a late-day rally in US equities. Upside capped at 87.50, 88.0 and 88.50. Support holds at 87.0, 86.65 and 86.40.   Looking forward to this week, major US economic releases include retail sales, jobless claims, business inventories, import prices, PPI, industrial production and the University of Michigan confidence survey. Key Eurozone indicators consist of Spain's labor force survey, Euroarea EcoFin meeting, German foreign trade, Spanish retail sales, ECB monthly bulletin, Dutch GDP, French employment, French trade balance, French industrial production and Italian industrial production. Highlights from Japan comprise the balance of payments, Cabinet Office economy watchers survey and GDP. Markets will be closed in Japan on Monday in observance of National Foundation Day.    	[IMAGE] Audio Mkt. Analysis EUR/JPY Sets the Pace       Articles & Ideas  The Swiss National Bank and the franc   A Weak Yen Bites       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE]
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[IMAGE] [IMAGE] [IMAGE]
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In preparation for the upcoming move to Enron Center South we are moving your Home Directories to a new trading cluster.

WHAT YOU NEED TO DO:
This will occur for you this EVENING after 6PM.
We will need to restart your computer in order to complete this action.
Please log out or your computer by 6PM, if the machine is not logged off we will reboot the machine in order to complete these actions.
Save your data before going home this evening.
If you have outstanding circumstances that we should address, please reply to this e-mail and we will change our schedule accordingly.

HERE ARE A FEW OF THE BENEFITS OF THIS ACTION:
Newer, more stable environment
More disk space available for common data
Faster network connections

HOW THIS WILL EFFECT YOU:
If you are a laptop user and have to work at home, you should save any work to your 'C:' drive on the laptop.  DO NOT use the "My Documents" folder.  When you return to work and reconnect to the network, any changes made to files/folders in the "My Documents" folder may be deleted from the laptop.
Laptops reconnecting to the network for the first time will receive a synchronization error.

RESOLUTION:
Please call the Resolution Center (x3-1411) and they will correct the problem ASAP.
We will have additional Technicians available on the floor if the Resolution Center has any problems.


Set up with Rex on 4/14/00 x-58160


This is the last month for the PNM Ignacio Plant deal.  ENA has decided not
to extend the deal at their price.