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.


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hi jason,
got your message. i forwarded it on to natalie and  amanda. nate and tiffany
are getting a new server and don't have a new address  yet. natalie didn't go
to the show. it was in dallas. grandpa is having  angioplasty on thursday.
i'm sure you'll hear from your mom, but i'll also email  when i get home from
the hospital after he's all settled. he'll be in davenport  from thursday til
saturday. love, aunt carol


I just want to clarify something, because we were here until about 9 p.m.
last night trying to flatten our position, and just figured out this morning
that we were off due to the Williams deal that I changed yesterday evening.
Apparently Jeff Richter didn't do any deals with Williams for 50 MW through
APB, but he did do one for 50 MW with Prebon. So I'm wondering why APB was
checking out like this? If possible, I'd like to avoid this in the future.
Let me know if you can find anything out from APB.

Thanks,
Kate

Kerri Thompson@ENRON
01/25/2001 02:48 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: apb checkout

the williams deals with apb at 215.00, should total 150 mw.  we are just
missing 25 mw.

   Kate Symes @ ECT                01/25/2001 04:40 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: apb checkout

505118 has been changed to 1/26 -1/27. Still checking on missing deal.

Kerri Thompson@ENRON
01/25/2001 02:12 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb checkout

505118
term should be 26-27

missing deal just like deal 505118

505223 price should be 300.00

misssing 2 deals for bob, will get details.

thanks


This was sent to me by one of the developers.  I believe it relates to an
expansion (or new interconnection) of the Caledonia facility.  I don't know
which lawyer has been working on it, so I'm sending it around to see if
anyone claims it. Chris thought that someone from Power Trading may have been
working on it.

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 10/10/2000 02:16
PM ---------------------------

	From:  Chris Booth                           10/10/2000 12:48 PM

To: Kay Mann/Corp/Enron@Enron
cc: Kathleen Carnahan/NA/Enron@Enron

Subject: Option Agreement and Easement

Kay,

This is the format for the land options that Robert Shaw of New Century is
using in Caledonia, MS.  Please advise if these documents are appropriate.

Thanks,

Chris
---------------------- Forwarded by Chris Booth/NA/Enron on 10/10/2000 12:42
PM ---------------------------

Mona Harvey <harveym@ncess.com> on 10/10/2000 11:20:08 AM
Please respond to "harveym@ncess.com" <harveym@ncess.com>
To: "Chris Booth (E-mail)" <Chris.Booth@Enron.com>
cc:

Subject: Option Agreement and Easement

Chris,
 Robert Shaw asked me to send these documents to you.

Please call either of us at 713-757-9771 if you need additional information.

Sincerely,
Mona Harvey

 - Easement - Caledonia Project (3-9-00).doc
 - Option to Purchase ROW-Caledonia Project (3-9-00).doc


just in case you didn't see it- 4 broncos made the 1st team all decade team.
elway is the starter and your boy in sf didn't even make 2nd team tim.


Shona -

A few points/questions on the request:

1.  How detailed do you want the "rolls supporting DPR information".....I ask because we have about 40 individual rolls which constitute our DPR info.  Do they just want a print-out from Excel of each of these rolls?!

2.  All PRMA info needs to come from Accounting (Tracy Greene)

3.  What are they classifying as an "open" transaction?!  If you let me know how they are differentiating between an "open" and an "active" transaction, I can possibly have our IT guys run a script to get a number in an efficient manner.

4.  We can get you the number of books and commercial support people

5.  Average number of transactions per day can possibly be obtained from someone in the EOL group (and then simply extrapolated to obtain a number representing our complete population of deals) as EOL constitutes approximately 75% of the power trading activity

Please let me know your thoughts.

Thanks!
Casey

 -----Original Message-----
From: 	Wilson, Shona
Sent:	Wednesday, January  16, 2002 1:49 PM
To:	Albrecht, Kristin; Mills, Scott; Gossett, Jeffrey C.; White, Stacey W.; Keiser, Kam; Evans, Casey; Vinson, Donald Wayne; Stevens, Martha; Glover, Sheila; Carrington, Clara; Horn, Cindy; Oliver, David; Sweeney, Kevin; Hall, D. Todd; Prejean, Frank; Swinney, John; Best, John; Thomas, Sheri; Moscoso, Michael E.; Hanson, Kristen J.; Mao, Shari; Miralles, Albert; Loibl, Kori; Reeves, Kathy; Gillis, Brian; Thurbin, Simon
Cc:	Thapar, Raj; Pearce, Barry; Hall, Bob M; Beck, Sally; Abel, Chris; Ayala, Susie; Trevino, Susan
Subject:	information for the creditors committee

As we discussed yesterday, here is the list of information that we need to gather to put into the booklets.  Please give us information (Chris, Keith, Susie, Susan and me) information as you get it.  The first priority is the rolls supporting the DPR information.  Also, please remember that all information needs to be reconciled to DPR information.  Please let Chris, Keith & myself know of your time frame to get us this info.  Currently, expectations are that we should have at least the rolls by the end of the week this week.

 << File: booket info needed.xls >>

Thanks

Shona Wilson
Director, Global Risk Operations
X39123


In February, 539,594 Mmbtu were allocated to the our index purchase from HPLR
Liquids at King Ranch.  This allocation resulted in a large physical
unaccounted for loss.  Effectively, the gas was being purchased twice in our
systems.  In addition, a sale to the Liquids group, which should have been
zero, was brokered with a purchase from Swift (2500 Mmbtu/day), resluting in
additional gas being allocated to the HPLR Liquids purchase contract.  I have
attached a schedule detailing the volumes that were double booked in
February.  This schedule also reports the daily volumes for March which will
need to be adjusted.  I have calculated (based on estimates) that we should
have only purchased about 88,000 from the Liquids group at King Ranch for
February.  See the following:

Booked to HPLR Liquids: 539,574  18,606/day
Purch by HPLC @ WH:  379,108  13,073/day
Incorrect Liquids Sale:    72,500  2,500/day
     Adjusted purch from Liquids:   87,986  3,034/day

We usually input a purchase of 2,500 Mmbtu/day from HPLR Liquids at the
tailgate.  We can increase this to 3,000/day for March.

The majority of gas in the 3-Rivers system is transported to the King Ranch
plant through HGPL.  Some of this gas is purchased at the wellhead by HPLC,
some of the gas is purchased at the wellhead by HPLR Liquids, and three
producers have the option to either sell their gas to HPLC at the wellhead or
to process their gas and sell the residue to HPLC at the tailgate of the
plant.  It is very important to keep the meters and volumes allocated
correctly among parties related to these transactions.  The attached schedule
should assist in doing this.  I have reported the meters at which HPLC buys
wellhead gas.  The movement of this gas through HGPL and King Ranch should be
kept seperate from the gas purchased by the Liquids group.  A transport usage
ticket can be used to show the transfer of HPLC's gas from King Ranch to HPL.

Let's plan on discussing this either Friday or Monday afternoon.  Let me know
what works best for you.

D


Sally,

Congratulations.

Vince


Sara:
I asked Sean to contact either you or Mark if anything needs to be done on
the financial GTC's for this counterparty.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 05/30/2001 09:57 AM -----

	Harry M Collins
	Sent by: Vanessa Griffin
	05/29/2001 03:24 PM

		 To: Sean Keenan/Enron@EnronXGate
		 cc: Ken Curry/Enron@EnronXGate, Julia Murray/HOU/ECT@ECT, Cheryl
Lindeman/ENRON@enronXgate, Deb Korkmas/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT
		 Subject: ENA - - Mitsui & Co. (USA) Inc. GTC's

Pursuant to our discussion, please find enclosed separate ENA-Mitsui Steel
GTC's for physical steel.

I have made the requested changes in the following provisions:

Clause 1.3
Clause 3.1
Clause 3.2
Clause 4.1
Clause 8

I am also enclosing a redlined version for ease of comparison.  Mark Taylor
or Carol St. Clair should be consulted to make any changes to the financial
GTC's.


Please review the attached document and call Steve Kean or Mark Palmer with
any questions or comments

you may have as soon as possible.

Thanks.


Barry:

This is the insurance language that would appear in the contract between
Enron Asset Management Resources (EAMR) and Citizens.  I will send you a
second e-mail that summarizes the proposed deal between EAMR and ENA.  As we
discussed I would like you to look at this insurance arrangement and see if
ENA has any risk.  My view of it is that this creates no risk to ENA, but I
have not structured a deal in this way before and would appreciate a second
opinion.

Thanks

C

 -----Original Message-----
From:  Smith, Sarabeth
Sent: Wednesday, June 06, 2001 1:42 PM
To: Soldano, Louis; Hawkins, Don; Bouillion, James L.; Foster, Chris H.
Cc: Marye, David
Subject: Proposed Compromise to Citizens

Please review the attached proposed compromise to be sent to Citizens
following internal review.  Lou worked with Don and myself to draft this
document.  Jim and Chris, your comments are appreciated.  My apologies for
the short turn around time, however, we need to get back to Citizens as
quickly as possible due to the plant going commercial sometime between 6/18
and 6/21.


Susan:
Thanks for staying on top of this for me!

Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-8537 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
carol.st.clair@enron.com

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Tuesday, November  6, 2001 4:06 PM
To:	St. Clair, Carol
Subject:	Amendments to Enron Corp. Guaranty Documents

Carol,

As mentioned in my voice mail, attached are amendments we have requested Enron Corp. to issue with respect to: (a) ENA's & EPMI's physical power transactions, and (b) ENA's financial transactions with Allegheny.

Allegheny was familiar with Enron's amendment form, so in the interest of time I have used that form in crafting these amendments.

 << File: amendment ltr(allegheny energy supply)power guaranty.doc >>                    << File: amendment ltr(allegheny energy supply)isda guaranty.doc >>

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3803A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
Email: Susan.Bailey@enron.com


good to me.  get prices for the different types of rooms

"Jennifer White" <jenwhite7@zdnetonebox.com> on 04/05/2001 12:19:52 PM
To: john.arnold@enron.com
cc:
Subject: NY hotels

Look what I found: http://www.60thompson.com/

There aren't many photos, but it sounds nice.  Travelocity.com shows
cheaper, promotional rates.  And I'll find out from Paula where she made
her reservations.

I'm done.  It's all up to you now.
Jen

___________________________________________________________________
To get your own FREE ZDNet Onebox - FREE voicemail, email, and fax,
all in one place - sign up today at http://www.zdnetonebox.com


<<RE: Stepenovitch>> Your message

  To:      jls@fullenweider.com
  Subject: RE: Stepenovitch
  Sent:    Mon, 29 Oct 2001 10:56:36 -0600

was delivered to the following recipient(s):

Jonda Stowell on Mon, 29 Oct 2001 10:48:41 -0600

Message-ID: <OF36511615.949FBAAA-ON86256AF4.005D153B@enron.com>
From: Joe.Stepenovitch@enron.com
To: jls@fullenweider.com
Subject: RE: Stepenovitch
Date: Mon, 29 Oct 2001 10:56:36 -0600
Return-Receipt-To: Joe.Stepenovitch@enron.com
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
X-MS-Embedded-Report:
Content-Type: text/plain;	charset="iso-8859-1"


Any ideas on who to talk to regarding a possible summer internship?

Scott
---------------------- Forwarded by Scott Neal/HOU/ECT on 11/12/2000 07:56 PM
---------------------------

"Christopher Graeter" <cag9783@labs.tamu.edu> on 10/19/2000 02:55:41 PM
To: <scott.neal@enron.com>
cc:
Subject: Internship

Scott-
 Hey there, this is Chris Graeter.  I wanted to check with you to see about
getting in touch with the person in charge of internships.  I am sure he or
she is busy, but in the mean time I was not sure if you or the person who
would be contacting me had my email address.  It is cgraeter@tamu.edu.  I
know that sometimes it is easier to get in touch with someone by email so I
wanted to make sure you had this information.  Thank you again for all your
assistance.  I hope to talk to you soon.

Sincerely,
Chris Graeter


OUTLOOK EMAIL NOTIFICATION

Your Date of Migration is: May 16th

YOU WILL BE UNABLE TO SEND E-MAIL unless you take the following action:
Please go through your Notes email and clean out as many old/un-needed email
items as possible BEFORE your date of migration.? After you are migrated to
Outlook you will only be allocated 100MB of total Mailbox space.?? If more
than this amount of data is migrated to Outlook YOU WILL NOT BE ABLE TO SEND
E-MAIL until it is below the 100MB limit.? Cleaning up your Notes email now
will prevent this from happening to YOU.

Enron,s messaging platform is migrating from Lotus Notes to Microsoft Outlook
2000 worldwide.  You will be accessing Outlook for all of your email
functions.

WHY IS ENRON MIGRATING TO OUTLOOK 2000?

Many factors contributed to the decision to migrate from Lotus Notes to
Microsoft Exchange/Outlook.  The most prominent factors were:

? Significant advantages to moving to a product that is more integrated with
current Enron apps (Windows 2000, Office and Internet Explorer)
? More efficient Shared PC and Roaming User features
? Improved support and integration for Palm/CE devices
? Instant Messaging capabilities

WHAT IS BEING MIGRATED TO OUTLOOK 2000?

? Email Messages.  From the date of your scheduled migration, the last (30)
thirty days of your Email will be converted for use in Outlook.
? All your folders in Notes you use to store email messages in.
? To Do Items
? Journal Items
? Calendar Entries dating from (1) one year in the past to (10) ten years in
the future will be converted.
? Address Books, but NOT your Distribution Lists that you created.  You will
need to re-create these in Outlook.

Thank you,

Outlook 2000 Migration Team


Please send this person a sleeve of the titleist balls - should be in the garage and send a sleeve of the Pinnacle balls to Robert Stokes - you should have an email in your box from last night.

Also would you mail the two envelopes on the counter.  Thanks.  I have a UBS meeting offsite until 2 p.m. today, I will have my phone with me.  Thanks - Love you.
PL

 -----Original Message-----
From: 	"Tuan Murray" <tuanmurray@hotmail.com>@ENRON
Sent:	Tuesday, January 22, 2002 9:50 PM
To:	Love, Phillip M.
Subject:	Re: FW: Enron Golf Balls auction on EBay

HELLO
  IT SHOULD OF HAD A CONFIRMED ADDRESS WITH MY PAYPAL PAYMENT.  ANYWAYS, MY SHIPPING ADDRESS IS:

1604 McNEESE STREET
APT 14
LAKE CHARLES, LA  70605

THANKS.
>From: "Love, Phillip M."
>To:
>Subject: FW: Enron Golf Balls auction on EBay
>Date: Tue, 22 Jan 2002 13:47:54 -0600
>
>
>
> > need your mailing address to send golf balls - I received your paypal payment.
> > PL
> >
> >
> > -----Original Message-----
> > From: Love, Phillip M.
> > Sent: Tuesday, January 22, 2002 8:49 AM
> > To: 'tuanmurray@hotmail.com'
> > Subject: Enron Golf Balls auction on EBay
> >
> > Congratulations on winning the auction on Ebay for the sleeve of Pinnacle Golf Balls. Please let me know if you will be paying by PayPal(alove@houston.rr.com) or money order/cashier's check. The total is $15.50. I will mail the balls priority mail as soon as I receive payment. Thanks again and use this email address if you reply before this evening, alove@housotn.rr.com is my home email and I can not access it from work. Thanks again and look forward to hearing from you soon.
> > PL
>
>
>**********************************************************************
>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.
>**********************************************************************
>

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


No, not at this time, let me get the guaranty information finalized first,
this way we eliminate any further confusion.

Thanks

By the way, do we have our legal meeting today??

From: Sara Shackleton on 09/05/2000 11:14 AM
To: Russell Diamond/HOU/ECT@ECT
cc:
Subject: Re: Cinergy Marketing ISDA Update

Should we send out a new draft without changing the guaranty language from
the original draft?

	Russell Diamond
	09/05/2000 11:10 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Cinergy Marketing ISDA Update

Hello Sara,

I talked to Chuck Kaufmann in Cinergy's credit dept. concerning the ongoing
issues.  Basically, he has agreed to the cross-default levels of 50/100
million.  He is going to look further into the guaranty issue and get back to
me on this. I will keep you updated.

Thanks
Russell


Scott, Janel:

I am getting questions from commercial folks re: the proposed profit tax.
Could you copy me on the letter or memo on Enron's position that has been
prepared?  Also if we have done any analysis on its legality
(constitutionality) I would like to see (Mike Day memo perhaps?).

(I apologize if you have already circulated something on this as I may not
have read it.)

Thanks,

Alan


E-NEWS FROM JEFF BLAYLOCK
January 31, 2002

***Please do not respond to this e-mail unless you have questions or need  additional information.  If you need to reply, be sure to reply to sender  only.***

ELECTRIC OVERSIGHT HEARING TIME CHANGE

The Electric Utility Restructuring Legislative Oversight Committee will  meet on Tuesday, February 5, 2002, in Capitol Extension E1.036, the Senate  Finance Committee hearing room, beginning at 10 a.m.  This is one hour  later than the originally scheduled time.

The committee will hear invited testimony related to the progress of the  transition to a competitive retail electric market.  An agenda will be  released as soon as it is available.

The oversight committee is comprised of Rep. Wolens and Sen. Fraser,  co-chairmen; Representatives Brimer, Counts, Danburg, S. Turner and Senators  Bivins, Madla, Nelson, and Whitmire, members.  Additional members of the  House State Affairs and Senate Business and Commerce committees may be in  attendance.

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

E-News from Jeff Blaylock is provided as a courtesy to keep interested  parties informed of House State Affairs Committee activities.  It is an  informal method of notification and should not be construed as an official  announcement from the House of Representatives, the Committee on State Affairs,  or its Chairman.  Formal announcements made pursuant to House rules can be  found on the House Web site, the committee's Web page, on posting boards  throughout the Capitol, at the hearing room on the date of the hearing, and at  the committee office just before and after a hearing date.

You have received this message because you asked to be placed on the E-News  from Jeff Blaylock distribution list or your e-mail address was referred by  another recipient.  If you received this message in error or would like to  be removed from the distribution list, please reply to this e-mail.

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

Jeff Blaylock
Chief Committee Clerk
(512) 463-0814
Fax  463-6783jeff.blaylock_hc@house.state.tx.us

State Affairs Committee Web page:http://www.house.state.tx.us/house/commit/c450.htm

Electric Utility Restructuring Legislative Oversight Committee Web  page:http://www.senate.state.tx.us/75r/senate/commit/c850/c850.htm


Resumes - We currently have a total of 10 "live" resumes - where "live"
indicates individuals who fit most or all of the qualifications/attributes we
are seeking in a candidate.
 - of the 10 resumes, 4 originated from the City's initial recruiting efforts
and 6 have been received since Enron became involved in the efforts. However,
to date, no resumes have been forwarded from Recruiters.
Recruiters - Unfortunately, I have had to take control of this situation by
force. It appears we will no longer seek assistance from two of the three
executive recruiters, Preng Assoc and Kern & Assoc. Korn Ferry has been
contacted directly by me and redirected down the correct path. Hopefully we
will have some resumes shortly.
Meetings/discussions with related parties - I have met or had telephone
conversations with a total of 8 individuals. I expect to meet with six more
over the next couple of weeks. I plan to ride with Dr. Persse, the medical
director, on 1/28 and to spend an entire shift (24 hours) with the
fire-fighters from District 34 - the result of a two hour meeting with a
Chauffeur (who initiated the meeting after reading the bulletin
Hollingsworth's office sent out on me) who invited me to spend 24 hours with
his fire station to experience first hand what they do. (I understand that
one of the men who posed for the 2001 Fire Fighter Calendar are in his fire
station - JUST KIDDING!)
I have a lunch planned for tomorrow with the Mayor's communications director.
She will be handling the specifics of the news conference scheduled for Febr.
1.

Lisa


thanks!

-----Original Message-----
From: Dimitry, Dirk
Sent: Friday, August 03, 2001 3:04 PM
To: Causholli, Monika
Subject: FW: June 2001.xls

Monika

For your information, the enclosed spreadhseet


don't make me come over there

 -----Original Message-----
From: 	McLaughlin Jr., Errol
Sent:	Wednesday, January  30, 2002 1:59 PM
To:	Keiser, Kam; Winfree, O'Neal D.; Love, Phillip M.; Giron, Darron C.; Palmer, B. Scott
Subject:	RE: Heads up

fysicalll (sp?), weapon y???  what are yall talking about, stop confusing me!!!!!!!!

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Wednesday, January 30, 2002 12:52 PM
To:	Winfree, O'Neal D.; Love, Phillip M.; Giron, Darron C.; Palmer, B. Scott; McLaughlin Jr., Errol
Subject:	RE: Heads up

Also, all physical weapon-X tabs are linking to an old east book.  I didn't touch that tab yet, we don't know if we're using weapon-X or sasqwatch.

KK

 -----Original Message-----
From: 	Winfree, O'Neal D.
Sent:	Wednesday, January 30, 2002 11:53 AM
To:	Keiser, Kam; Love, Phillip M.; Giron, Darron C.; Palmer, B. Scott; McLaughlin Jr., Errol
Subject:	Heads up

Hey Gang,

Just a heads up, but you may need to edit your Copy Physical Macro in your P&L's that are saved in the Netco/Regions folder... The changes were simply renaming sheets in the Macro... O


Philip,

Frank's E-mail:

wolak@zia.stanford.edu

Vince

 -----Original Message-----
From: 	"philip annesley" <pannesley@riskwaters.com>@ENRON [mailto:IMCEANOTES-+22philip+20annesley+22+20+3Cpannesley+40riskwaters+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, May 31, 2001 9:12 PM
To:	Kaminski, Vince J
Subject:	RE: Risk 2001 Australia

Thanks Vince - I'll give him a try.

-----Original Message-----
From: Vince.J.Kaminski@enron.com [mailto:Vince.J.Kaminski@enron.com]
Sent: Thursday, May 31, 2001 10:03 PM
To: pannesley@riskwaters.com
Subject: RE: Risk 2001 Australia

Philip,

Please, try Frank Wolak from Stanford University.

He is the best expert on California right now.

Vince

    -----Original Message-----
   From:   "philip annesley" <pannesley@riskwaters.com>@ENRON

[mailto:IMCEANOTES-+22philip+20annesley+22+20+3Cpannesley+40riskwaters+2Ecom
+3E+40ENRON@ENRON.com]

   Sent:   Wednesday, May 30, 2001 7:50 PM
   To:     Kaminski, Vince J
   Subject:  RE: Risk 2001 Australia

   Vince

   Thanks for coming back to me on this anyway. Would you be able to
   suggest
   anyone else - either in Australia, Europe or US who would be good to get
   to
   discuss the California crisis?

   kind regards.

   Philip

   -----Original Message-----
   From: Vince.J.Kaminski@enron.com [mailto:Vince.J.Kaminski@enron.com]
   Sent: Thursday, May 31, 2001 12:00 AM
   To: pannesley@riskwaters.com
   Cc: Vkaminski@aol.com
   Subject: RE: Risk 2001 Australia

   Philip,

   I have to decline the invitation with regrets.
   I have too many commitments right now.

   Vince Kaminski

       -----Original Message-----
      From:   "philip annesley" <pannesley@riskwaters.com>@ENRON

[mailto:IMCEANOTES-+22philip+20annesley+22+20+3Cpannesley+40riskwaters+2Ecom
   +3E+40ENRON@ENRON.com]

      Sent:   Monday, May 28, 2001 3:27 AM
      To:     vkamins@enron.com
      Subject:  Risk 2001 Australia

      Dear Vince

      Just a quick message to follow up on the email that I sent you
   recently
      inviting you to speak at our forthcoming congress, Risk 2001
   Australia,
      which is taking place in Sydney on 20 & 21 August 2001. Have you had
   an
      opportunity to consider the invitation yet? We are aiming to have the
      programme printed next week, so I would really need to know as soon
   as
      possible if you would be available to speak at this year's congress.

      I am working from our Hong Kong office for this week only (Tel: +852
      2545
      2710), and I can be contacted by phone there or by email.

      Kind regards.

      Philip

      Philip Annesley
      Conference Producer
      Risk Waters Group

      +44 20 7484 9866
      +44 20 7484 9800

      www.risk-conferences.com/risk2001aus


and you think i'd want to go with them?  actually, i thought that they had a
ticket for me too.

"Krenzer, Mark A." <Mark.Krenzer@sci-us.com> on 03/29/2001 12:31:10 PM
To: "'Matt.Smith@enron.com'" <Matt.Smith@enron.com>
cc:

Subject: RE: FW: Matchbox Twenty

I'm not sure I want to go with a bunch of girls!

-----Original Message-----
From: Matt.Smith@enron.com [mailto:Matt.Smith@enron.com]
Sent: Thursday, March 29, 2001 12:26 PM
To: Krenzer, Mark A.
Subject: Re: FW: Matchbox Twenty

why can't you go, or do you just not want to?

"Krenzer, Mark A." <Mark.Krenzer@sci-us.com> on 03/29/2001 08:13:35 AM

To:   "'matt.smith@enron.com'" <matt.smith@enron.com>
cc:

Subject:  FW: Matchbox Twenty

Smith,
    Do you have any interest in this concert?   Matchbox Twenty, Life
House,
and some other band....  I have a ticket and I don't know if I am going,
but
if you want to go I can see if she has an extra ticket or you can have
mine.
Let me know!

-----Original Message-----
From: Barclay, Becky (417) [mailto:Becky.Barclay@affiliates.com]
Sent: Thursday, March 29, 2001 8:05 AM
To: Alexis Salazar (E-mail); Brian Wilson (E-mail); Dana Humphrey (E-mail);
Luisa Beltran (E-mail); Mark A. Krenzer (E-mail)
Subject: Matchbox Twenty

Hey gang - just a reminder I have you guys down for the concert on Wed.,
April 11th.  That's the week after next.  If, for any reason, you can't
make
it, let me know and I will get some other takers for the tickets.  Thanks!

Becky Barclay
The Affiliates
333 Clay Street
Suite 4820
Houston, Texas 77002
713-658-1177
713-658-1771 (fax)
www.affiliates.com


Hey, I spoke with Ronnie Skerrik and Charlie Stone this morning and they
agreed that
if Lonestar does not bring the gas back to HPL as nomed that the gas will
continue to be
sold to TXU.   This should elevate any higher vol re-deliveries/Make up to
HPL.

Please call me with any questions,
Janet


Whatever happened to the NDA we sent over to London for signature for Enron
Credit.com?


It loods good!  Thank you so much.  I'll let you know if we need anything else after Steve looks at the graphs/charts.

 -----Original Message-----
From: 	Lohman, TK
Sent:	Wednesday, September 26, 2001 9:24 AM
To:	Donoho, Lindy
Subject:	Pricing

How does this look?

                                      << File: Lindypricing.xls >>


fyi

---------------------- Forwarded by Tracy Geaccone/GPGFIN/Enron on 02/16/2001 08:45 AM ---------------------------

Steve Gilbert
02/16/2001 07:58 AM
To:	Tracy Geaccone/GPGFIN/Enron@ENRON
cc:

Subject:	Re: Weekly Bullets for NNG Commercial Support Team

Ken Powers has been developing a Business Objects report along with Lindy Donoho and Jim Wiltfong.  They are trying to create a daily system balancing report by capturing reciepts, deliveries, fuel, OBA and Park and Ride activity  - all per pipeline segment.   The objective is to get a better handle on fuel.

<Embedded StdOleLink>


FYI - Attached is a memo I prepared for Dave Wear.  Dave was going to edit
the memo and send it to Simon Halfin as a summary of our discussions on the
Hub Agency Agreement.  I am not sure what the final form was, but I expect
that it was very close to the one attached.  Please do not acknowledge
receipt of this memo as Simon does not know that I prepared it.  Dave spoke
with Simon on Friday and is planning to meet with him this week.  They will
be available to talk with us after their meeting.  I will keep you posted on
when this happens.

Thanks -

Gregg


Please print all attachments for me.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 09/01/2000 04:24 PM
---------------------------

Anthony Key
08/29/2000 03:28 AM
To: Shona Wilson/NA/Enron@Enron, Sally Beck/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT
cc: Naomi Connell/LON/ECT@ECT
Subject: due dilligence checklist for acquisitions

As requested by Shona, attached is a blank SOAP form, a completed SOAP form
for your review and a simple presentation on how the SOAP process operates.
Hope you find it useful. Please come back to me if you need any more info.

Anthony

---------------------- Forwarded by Anthony Key/LON/ECT on 29/08/2000 09:29
---------------------------

Naomi Connell
29/08/2000 08:55
To: Anthony Key/LON/ECT@ECT
cc:

Subject: due dilligence checklist for acquisitions

Could you get this out to the people below - thanks
---------------------- Forwarded by Naomi Connell/LON/ECT on 29/08/2000 08:50
---------------------------

	From:  Shona Wilson @ ENRON                           28/08/2000 14:44

To: Sally Beck/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT
cc: Naomi Connell/LON/ECT@ECT

Subject: due dilligence checklist for acquisitions

I'm in the process of putting together some slides for the presentation on
the 7th.  In doing this, I was reviewing the global operations presentation
and  noted on the global operations initiative slide one of the initiatives
listed is "creation of due diligence checklist for acquisitions." I know
Naomi Connell has put together the SOAP which her group in London uses for
this purpose which might be useful.

Naomi - could you send the three of us a copy of this document?

Thanks

Shona


a followup note on this deal from Kevin Presto
Regards,
Janice

EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax:  713-646-4842)
----- Forwarded by Janice R Moore/HOU/ECT on 10/26/2000 08:30 AM -----

	Kevin M Presto
	10/26/2000 08:25 AM

		 To: John Llodra/Corp/Enron@ENRON
		 cc: Janice R Moore/HOU/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, Edward
Sacks/Corp/Enron@Enron, Edward D Baughman/HOU/ECT@ECT, Mark Dana
Davis/HOU/ECT@ECT, Jim Homco/HOU/ECT@ECT
		 Subject: Re: Black Hills Pepperell tolling transaction

John,

We need to make sure we are valuing the spread option using only No. 2 oil in
Dec, Jan & Feb.  We will almost certainly be curtailed during blow out events
in the winter and, therefore, it is not appropriate to use nat gas as the
winter fuel.


---------------------- Forwarded by Steven J Kean/HOU/EES on 08/07/2000 07:57
AM ---------------------------
From: Carolyn Green@AZURIX on 08/04/2000 02:58 PM
To: Steven J Kean/HOU/EES@EES, John Wodraska/HOU/AZURIX@AZURIX, Amanda K
Martin/HOU/AZURIX@AZURIX
cc: Kathleen Sullivan/HOU/AZURIX@AZURIX
Subject: TX Legislative Materials

These are the preliminary materials I put together over the past few months
on Texas water issues.  Greg Characklis is most knowledgeable about both the
issues and the politics, so he can provide briefing/guidance for both my
replacement and Kathleen Magruder's replacement.
----- Forwarded by Carolyn Green/HOU/AZURIX on 08/04/00 02:51 PM -----

	Carolyn Green
	07/31/00 11:31 AM

		 To: Greg Characklis/HOU/AZURIX@AZURIX
		 cc:
		 Subject: TX Legislative Materials

Here's what I have.


Hey, call me on this kid.  He is the next king for you.  I met him at Wharton.

Jeff
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/02/2000
12:36 PM ---------------------------

"Zac Costello" <zacostel@sas.upenn.edu> on 09/29/2000 12:29:36 PM
To: <jeff.shankman@enron.com>
cc:
Subject: ESPN Classic Sports

Dear Mr. Shankman,
? How are you doing? We met last week at the  undergraduate Enron
presentation and discussed the possibility of an Enron/ESPN  deal that would
enable television viewers to order old sporting events over the  television
(similar to the Blockbuster deal). You told me to send you an email  around
this time to follow up, so I can find out who to contact to get the ball
rolling. Thanks again for taking the time to listen to my idea.
?
Sincerely,
Zachary Costello


Hi Jeff,

They should be in your inbox, let me know if you didn't recieve them.

Cheers

415 608 8143 cell

At 12:23 PM 12/11/00, you wrote:
>Only if it's not a bother.  You're very sweet to forward along.  You must
>feel GREAT being done!

Kimberly Kupiecki
Director
A&R Partners
kkupiecki@arpartners.com
(650) 762 2800 main
(650) 762 2825 direct
fax (650) 762 2801


Please find attached the CES daily volume requirements for 3/22 and beyond for
March.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317

 - 03-22-00 daily volsAM.xls


I have forgotten my user name and password.  I work for
Enron.  Can you help me?

Thank you,

Scott Neal


The information was sent to the FPSC staff on Tuesday, March 27, 2000.  Tom
did review the document prior to it being sent to the FPSC.  Gulf added a
small paragraph regarding the outages experienced on our 230kV system.  We
do not have access to AEC's information.  Thus, far we have seen no filings
from AEC or WFEC.

Russell A. Badders

----- Original Message -----
From: <Gerald.Nemec@enron.com>
To: <rab@beggslane.com>
Cc: <Mark.Knippa@enron.com>; <Chris.Hilgert@enron.com>; <bill@katzlaw.com>;
<JASTONE@southernco.com>
Sent: Wednesday, March 28, 2001 2:02 PM
Subject: Re: Staff Question re: 115/230

Russell,  I reviewed this with our business guys and they were fine with
what you represent here.  We did not check this with Tom Balcerowiz and he
needs to take a look at it.  Have your technical people gotten with Tom yet
on any of these issues?  If not then we can run it down on this end.

Our only concern was that reliability between Gulf's 230 kv system and
AEC's 115 kv system was not addressed.  It was our understanding that this
was a question of the PSC staff.  Are there plans to provide any
information concerning this item, or is no information available from AEC
for such assessment?

Any word concerning WFEC's response to our petition or any filings they
have made with the PSC?

                    "Russell A.
                    Badders"             To:     <Gerald.Nemec@enron.com>
                    <rab@beggslan        cc:
                    e.com>               Subject:     Staff Question re:
115/230

                    03/21/2001
                    09:35 AM

Please review the attached document. Mr.  Bryant and possibly Tom on your
end may want to see this before it goes. I  hope to transmit this to PSC
Staff Thursday March 21, 2001.   Thanks
Russell
(See attached file: staffissue.doc.doc)


west- san juan
please change deal V96295 from gas daily to just a nymex swap, this is an internal deal no confirms to change


I couldn't find Mark on the directory - would someone please forward this to
him?  Here is the message from Steve O.

-----Original Message-----
Date:  07/08/2000  01:53 pm  (Saturday)
From:  "Oldham, Steve" <soldham@sierrapacific.com>
To:  "'Jonathan Ater'" <Jaa@aterwynne.com>, "Elliot, Beth"
     <BElliot@sppc.com>, "Ponn, Doug" <dponn@sierrapacific.com>,
     "Ruelle, Mark" <mruelle@sierrapacific.com>, "Oldham, Steve"
     <soldham@sierrapacific.com>, "Peterson, William"
     <wpeterson@sierrapacific.com>
CC:  "'pamela_lesh@pgn.com'" <pamela_lesh@pgn.com>
Subject:  RE: Important -  Further Information

Jonathan, I have spoken with Mitch Taylor and Pamela this morning after
talking to you.  While both calls were cut short, after I talked to Mitch he
was encouraging us to go with our original sur-rebuttle and not with the
revised Ruelle testimony.  At the same time Pamela was worried that we
needed to stick with the original sur-rebuttle and to incorporate the
changes that she felt were important to make.  My concern all along is that
we correctly inform the OPUC as to the facts in Nevada while at the same
time getting this transaction closed.  It seems to me that the common wisdom
of those closest to the OPUC and the OPUC staff is to file the sur-rebuttle
that outlines our plans for the PGE acquistion and rate plan, responds to
staffs concerns raised in their rebuttle and to do so on Monday.  Pamela
suggested that we could inform all of the parties, which includes the OPUC
of the events that are likely to be disclosed on Monday via letter.   During
our conversation it was clear that Mitch had concerns about using the
rebuttle testimony as the way to convey our current status in Nevada to the
parties in Oregon.  I would like to suggest that we follow the advice that
we are getting from PGE and Enron on this as they are closest to the OPUC
staff and others in Oregon.  We will need to add a couple of paragraphs to
Mark's testimony that will make what he testifys to in District Court on
Monday consistant with the sur-rebuttle in Oregon.  We will go back to my
original sur-rebuttle as improved by PGE, Enron, yourself and Beth for
filing on Monday.  Coupled with the responses we make to the OPUC staff next
week on the recent data requests we can make sure that we have informed all
parties of the critical facts in Nevada.  This all makes sense to me as we
will know more on Monday after the District Court hearing in Nevada, we will
have made our press release and energy filing in Nevada and all parties will
then be informed as to the nature of whats going on.  I am still hopeful
that we will have resolution to the situation in Nevada in a timly manner
but I cannot be sure of it.  Thanks for the hard work this weekend on the
tough issues and for your advice in how best to get the deal with PGE closed
soon.   steve oldham

-----Original Message-----
From: Jonathan Ater [mailto:Jaa@aterwynne.com]
Sent: Saturday, July 08, 2000 1:02 PM
To: belliot@sppc.com; dponn@sppc.com; mruelle@sppc.com;
soldham@sppc.com; wpeterson@sppc.com
Subject: Important - Further Information

I have just learned informally from Mike Morgan that Enron is likely to take
the position that the 10AM version of Ruelle is not a best efforts
presentation.

To that end, please consider seriously the additions I have proposed in the
draft circulated about 12:45 today.

Also, please consider that with little additional effort (since the material
is already written), we could include almost everything we have drafted but
for the revised rate proposal.

It seems to me that there are two reasons for submitting as much as we can:
first, it helps play defense with Enron.   Second, it helps communicate with
the staff and the commission, and thus positions us for a positive outcome
in due course.


No more voice mails.  Call me or let's agree to a time.  Sara


Dear Valued Customer,

Your order item(s) have shipped!

Your order number is: 2497300447.

Below, you'll find additional shipping information.

Shipment 1 -------------------------------------------------

Sent to:

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19355

Shipment 1 was sent UPS Ground via United Parcel Service
on Nov 25, 2000 2:42 AM, and can be expected to arrive
within 5 to 6 business days.

For your reference, the number you can use to track your
package is 1ZV3X9430371146455.  You can track your
package at http://www.ups.com

Item(s):

Translucent Keyboard
1 @ $59.99
= $59.99

Alphabet Pal
1 @ $22.99
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Item(s) Subtotal              = $82.98
Shipping Costs                = $6.00
Gift Options                  = $5.00
Sales Tax (PA)                = $0.00

------------------------------------------------------------
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Mike,
 I have added the language as item 4 under Other to the Transaction
Agreement.  If okay, please accept the changes, print, have signed and
forward to me for further handling.


The Transportation Desk recently issued receipts for January's Parking and
Mass Transit expenses deducted from employee paychecks.   The form needed for
reimbursement under the Transportation Spending Account program is available
at the Enron Building Transportation Desk (3rd floor) and Corporate Benefits
(16th floor).  The form will also be available on the Benefits web site
shortly.

Your reimbursement request should be sent to:
     Aon Consulting
     Flex Administration #00741-83
     P.O. Box 2845
     Winston, Salem, NC  27102-2845


Richard:

Farallon is seeking leave to file an amended complaint.? No effect on us.?
Several claims added against McDonald and NatWest.? We'll send you a copy.

Have you found out from Brian whether he wants to go 1/17, 18, and possibly
19 or 1/18, 19, and possibly 20?

Starting Tuesday, my phone number is 310-407-7613, and my e-mail is
showard@agsk.com.

Steve

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/05/2000
05:30 PM ---------------------------

"FT.com" <ft.com.update@newsbyemail.ft.com> on 07/04/2000 03:35:56 PM
To: "FT.com User":;
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: FT.com Monthly Update

Dear FT.com user

With more ways to get news on the move and a new ranking of MBA courses,
there is much for the business-obsessed on FT.com this month.

--------
Contents
--------
1. News by Mobile
2. A new daily summary of the Financial Times
3. Choosing the best MBA
4. People Profiles and Interviews
5. Discussion hot topics
6. Received a file but don't have the software to open it?
7. Revised User Terms and Conditions

-----------------
1. News by Mobile
-----------------
Need news on the move? Get news from FT.com on your mobile phone,
Palm Pilot or other PDA. You can now choose from:

*     Customised text messages with industry updates and breaking
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*     Daily FT.com summaries for your handheld computer
*     Research on-the-go with our new WAP site

Sign up or read more at:
http://www.ft.com/mobile

----------------------------------------------
2. A new daily summary of the Financial Times
----------------------------------------------
Can't get to a copy of the Financial Times quickly enough? The new
FT in Brief summarises and links to all the top stories from the day's
newspaper. FT in brief is listed on the 'from today's FT' section on
our home page, or you can link to it from here.
http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Collection&cid=IXLC078IH7C

------------------------------------------------------
3. Choosing the best MBA - FT Interactive MBA rankings
------------------------------------------------------
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which are important to you and let FT.com recommend your top 5 schools.
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---------------------------------
4. People Profiles and Interviews
---------------------------------
Who said "You have to make your bets on what will be enduring and what
is complete bullshit"?* Find out this, and much more from FT.com's
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People includes dossiers, people on the move, obituaries and our exclusive
"lunch with the FT" interviews (this week Princess Hisako of Takamado,
last week Kurt Vonnegut).
http://people.ft.com/people

------------------------
5. Discussion hot topics
------------------------
What topics have stirred FT.com users to contribute their opinions?
Microsoft? Mexico's election? Wimbledon? To find out the hottest topics
daily visit:
http://forum.ft.com/cgi-bin/fintimes/search.cgi?action=getdaily

----------------------------------------------------------
6. Received a file but don't have the software to open it?
----------------------------------------------------------
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now contains a built in file viewer - the 'FT Viewer'. It enables you to
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------------------------------------
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------------------------------------
We have revised our user terms and conditions to take into account our
new WAP service. To review these terms and conditions:
http://globalelements.ft.com/Common/TermsAndConditions/terms.html

For details about FT.com's new WAP service:
http://www.ft.com/mobile/

Regards,

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*this quote was from Marjorie Scardino, CEO Pearson plc.

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

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If you have forgotten your password for FT.com visit:
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Phil, heads up, i will need another wire for about 224,000. It will come from funds that I should receive today. I will get you specifics a little later.


FYI

> -----Original Message-----
> From: Lynch, Loretta
> Sent: Thursday, January 04, 2001 9:35 AM
> To: ALL PUC
> Subject: Strategic Planning Director
>
> I am happy to announce that Barbara Hale has agreed to become the
> Commission's Director of Strategic Planning.  Many of you already know
> Barbara.  She has held several key positions in the Commission over the
> past twelve years, as advisor to two Commissioners, analyst in ORA and
> more recently as an administrative law judge.
>
> Barbara has a solid understanding of the organization and of the critical
> regulatory issues before the Commission.  She brings a lot of ideas and
> energy to the Commission's management team.
>
> Please join me in welcoming Barbara to a new challenge!
>
>

 - C.DTF


Here is the Japanese repsonse which also contains our inquiry.
---------------------- Forwarded by Mark Taylor/HOU/ECT on 05/08/2000 10:32
AM ---------------------------

Yasuyoshi.Goto@BAKERNET.com on 03/14/2000 01:23:57 PM
To: Mark.Taylor@enron.com
cc: Alan.Aronowitz@enron.com, Paul.TYO.Davis@BakerNet.com
Subject: RE: EnronOnline in Japan

Dear Mark:

I refer to you e-mail of March 3 sent to my partner, Paul Davis.  I am in
charge
of our Information Technology/E-Commerce Dept.  Please accept my apology for
not
having responded earlier.

Please see our comments below.

Should you have any questions, please let us know.

Best regards,
Yasuyoshi Goto

> -----Original Message-----
> From: Mark Taylor [mailto:Mark.Taylor@enron.com]
> Sent: Friday, March 03, 2000 9:17 AM
> To: Paul.TYO.Davis@BakerNet.com
> Cc: Alan Aronowitz
> Subject: EnronOnline in Japan
>
>
>
>
> Dear Paul:
>
> I believe Alan Aronowitz and Mark Haedicke of our office met
> with you a week or
> so ago and mentioned that we would need advice from you
> regarding the use of our
> internet trading website with customers in Japan.  Below is a
> list of initial
> questions regarding which we would be grateful for the
> benefit of your advice.
> For your background information as you consider these
> questions, be advised that
> counterparties must sign a written "Password Application"
> which provides that
> the counterparty intends to be bound by agreements entered
> into by "clicking" in
> the appropriate spaces on the website.  Please feel free to
> contact me with any
> questions you may have.  I can be reached either by e-mail at
> Mark.Taylor@enron.com or by telephone at (713)853-7459.
>
> 1.   Have relevant regulators in your jurisdiction made any
> statements regarding
> marketing of or dealing in any of the following types of
> products through the
> internet or other electronic systems:
>
>      Commodity transactions relating to oil, gas, electricity
> or other energy
> commodities, whether derivative
>           transactions (cash settled) or physically settled.
>      Financial derivatives - i.e. interest rate, foreign
> exchange or credit
> derivatives.
>      Weather derivatives.
>      If so, please could you provide us with a brief summary.

Our research has revealed no statements of regulators in Japan in connection
with the marketing or dealing in the above types of  products through the
internet or other electronic systems from publicly available source.  We will
let you know if we find any previous or future statements.

>
> 2.   Do any specific laws or regulations exist in your
> jurisdiction which would
> prevent or in any way impact upon marketing or trading of any
> of the products
> set out in question 1 above through the internet?  In
> answering this question
> please address issues relating to contractual formation and
> enforceability of
> contracts entered into via the internet.  In particular, if a
> transaction
> entered into via the internet is enforceable under U.S. or
> U.K. law and the
> transactions contain a choice of such law, will such
> transactions, including the
> choice of law, be enforceable in Japan?

We do not have any specific laws or regulations which would marketing or
trading
of any of the products set out in question 1 above through the internet.
Under
Japanese law, formation of any contract does not require any formality.

Japanese law generally does not require any formalities for offers or
acceptances to be valid as such. There is no Statute of Frauds, and parties
may
make most types of contracts orally. If there is enough evidence establishing
that the offeree agreed to the terms offered, an offeror may rely on it. In
most
simple sales contracts for consumer goods, for example, it would be easy to
prove that the customer agreed to pay x yen for product Y. The Seller's
electronic records showing that the customer clicked on the icon to buy
product
Y should be enough in this context.

In more complicated contracts, the structure of the seller's Web pages should
be
carefully designed. Having no court decisions, we have no definite answer to
the
question of enforceability of shrink-wrap agreements in Japan. However, the
legal implications of the Web-wrap, the online version of shrink-wrap, may be
somewhat different from shrink-wraps (e.g. licenses for software sold over the
counter).  Under a typical shrink-wrap license in the real world, for example,
the customer cannot break the wrapper until after the customer purchases the
product. However, in an on-line environment, a customer has a choice to click
on
an Accept-to-Buy icon before the customer purchases the product. Further,
with a
carefully compiled sequence of screens or pages which would in effect be able
to
let the customer read the terms and conditions before rushing to click on the
icon, it would be easier to prove that the customer read the terms and
conditions than in a typical shrink-wrap license situation. Unlike shrink-wrap
in the real world, the seller may obtain an electronic record showing that the
customer clicked on the icon. Given these differences, the result possibly may
be more favorable to sellers online than to those using shrink-wrap licenses.

If a transaction entered into via the internet is enforceable under U.S. or
U.K.
law and the transactions contain a choice of such law, such transactions,
including the choice of law, will be enforceable in Japan.

>
> 3.   If the answer to either of question 1 or 2 is "yes",
> please indicate
> whether the impact of any relevant statements, laws or
> regulations will differ
> depending upon whether (a) the relevant internet site is
> maintained in your
> jurisdiction or elsewhere; or (b) the party effecting the
> marketing/trading
> through the internet is locally licensed.

N/A

> 4.   Please confirm that by marketing to or trading with
> counterparts in your
> jurisdiction via the internet local relevant regulatory
> bodies/local laws or
> regulations will not consider the party maintaining the
> relevant website to have
> established a physical establishment/branch in your jurisdiction.

We do not have any clear cut answer to this since we have no relevant laws,
regulations, or court cases.  So long as  the party maintains the relevant
website with a computer server located outside Japan, the likelihood of
Japanese
regulatory bodies to consider that the party maintaining such website
established a "physical" establishment/branch in Japan is negligible.

>
> Thank you in advance for your attention.  We look forward to
> hearing from you.
>
> Sincerely,
>
> Mark Taylor
>
>


Jeff:
As I think you are aware, the Meixco and online group want to implement
online trading for Mexican counterparties.  Are there any tax issues taht we
should be aware of?  If we conduct online trades using ENA and telephone
trades with an Enron Mexican entity, will the exercise of setoff rights
create any tax issues?   My understanding is that the Enron counterparty will
be ENA.
Carol


yes

 -----Original Message-----
From: 	raquel.nunes-thomas@us.abb.com@ENRON
Sent:	Wednesday, October 10, 2001 5:07 PM
To:	Thomas, Paul D.
Subject:	h

Are u still there?


Beginning in 2001, Enron will include Martin Luther King, Jr. Day as one of
our 11 official holidays for U.S. employees.  Martin Luther King, Jr. is one
of our nation's most remarkable heroes, and we want to honor his tremendous
contributions to our history by observing his holiday.

Next year, Martin Luther King, Jr. Day falls on Monday, January 15.  See the
holiday schedule below for a list of other holidays that Enron will observe
in 2001.

2001 Holiday Schedule

Monday	January 1	New Year,s Day
Monday	January 15	Martin Luther King Day
Monday	February 19	President,s Day
Monday	May 28	Memorial Day
Wednesday	July 4	Independence Day
Monday	September 3	Labor Day
Thursday	November 22	Thanksgiving Day
Friday	November 23	Thanksgiving Observance
Monday	December 24	Christmas Observance
Tuesday	December 25	Christmas Day
Discretionary Day

Days designated Observance are floating holidays set by Enron for the year.
A Discretionary Day may be taken as a holiday on any work day with the
supervisor,s prior approval.  When used, it must be designated on payroll
records for that pay period; depending on the State where employed, an unused
discretionary holiday may be forfeited at year end.  For more information*
especially concerning holiday pay for employees who work other than the
standard, 8-hour, 5-day work week*please refer to HR policy #12 (Work Hours,
Holidays, Vacation) or contact your HR representative.


Chris--Attached is the spreadsheet that we spoke of earlier today.  I have
made
the correction to TCO Op 2, Mkt Area 20 into NYSEG (i.e. +854 dth/day).   I
will make the necessary changes to the AGL volumes over the next few minutes.
As we discussed, we'll need to resolve the question about Central Hudson off
Iroquois (we may not need any volumes there since Duke is the supplier), and
as
I said, we'll be discussing our needs into southern Connecticut on a firm
basis
with other suppliers.   I am also attaching the spreadsheet with the storage
injections for assigned storage.   I believe that we need to negotiate the
price for all of the  April storage injections.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317

 - Apr00 Master.xls
 - COH & AGL.xls


Dear Market Participants,

The ISO is reviewing its financial assurance policy
with regard to collateral requirements for participation
in the T.C.C. market.  The ISO will advise market
participants of the results of its review and will
present proposed modifications, if any, in advance
of their adoption.

The ISO expects this review will be completed in March.

Regards,

NYISO Market Relations
518-356-6060

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