When: Thursday, February 07, 2002 12:00 PM-1:00 PM (GMT-06:00) Central Time (US & Canada).
Where: ECS 04075

*~*~*~*~*~*~*~*~*~*


Thanks

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Wednesday, January 16, 2002 6:20 PM
To:	Fay, Ashley
Subject:

FYI....

I changed the west and performance books to your name on the rac website.


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/26/2000
09:14 AM ---------------------------

	Enron North America Corp.

	From:  Lynn Pikofsky @ ENRON                           04/25/2000 01:56 PM

To: Laura Luce/Corp/Enron@Enron, Barbara G Dillard/Corp/Enron@Enron, Kevin P
Radous/Corp/Enron@Enron, Cary M Carrabine/Corp/Enron@Enron, Tim
Hermann/Corp/Enron@ENRON, Gregg Penman/Corp/Enron@Enron, Paul
Burgener/Corp/Enron@ENRON, Roy Rodriguez/Corp/Enron@ENRON, Russell E
Murrell/Corp/Enron@Enron, Steve Richman/Corp/Enron@ENRON, Richard
Tomaski/Corp/Enron@Enron, Dave Wear/Corp/Enron@ENRON, m.divalerio@pecorp.com,
j.burns@pecorp.com, Fred Mitro/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT,
Stinson Gibner/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Rusty
Stevens/Corp/Enron@ENRON, Deirdre McCaffrey/HOU/ECT@ECT
cc:
Subject: Real Options Seminar

The Real Options Seminar which is scheduled on Thursday April 27th will be
held in EB46C1.  The seminar will begin at 8:30 and will finish at 11:30.
Coffee and bagels will be served.

The baseball will begin at 3:05, and the ball park opens at 1:00.  Food and
drinks will be provided in the suite at 2:00.  There may be a tour of the
field scheduled at 1:00, I will let you know the details.

Dinner is to follow the game, place is still be determined.

For Chicago attendees, if you are on the 4:44 flight, please let me know if
you need transportation to the airport.  Transportation will be provided in
Houston upon arrival to the hotel.  Please let me know of your flight
itinerary if you are interested.

Please let me know if you have any questions.

Thanks,
Lynn
312) 541-1379


Please incorporate the management contact changes per Sheila Glover for the
2000 plan.
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/11/2000 06:07 PM
---------------------------

	From:  Sheila Glover                           04/11/2000 09:55 AM

To: Sally Beck/HOU/ECT@ECT
cc: Patti Thompson/HOU/ECT@ECT
Subject: AA Audit timeline

Sally,
Equity and Debt Trading should be:
 Gary Hickerson instead of Jeff Kinneman (Jeff is the Debt Trading piece only)
 Include Beth Perlman/Jonathan Le
 As noted, Sheila Glover instead of John Norden
Rate & Currency Trading (change name from FX/IR Trading
 Include Beth Perlman/Jonathan Le
 As noted, remove John Norden

thanks. sheila


Stand up, Texas, against California's bullying
Houston Chronicle, 05/24/01

Markets / Your Money Senate Shift to Ripple Across Industries Politics:
Jeffords' decision could broadly affect range of sectors, from drugs and HMOs
to tobacco and energy.
Los Angeles Times, 05/24/01

Brazil asking power users to cut back
Houston Chronicle, 05/24/01

California Official Cites Evidence of Electricity Price Manipulation
KRTBN Knight-Ridder Tribune Business News: Contra Costa Times - Walnut Creek,
California, 05/24/01

Shrugging off energy ties / GOP gubernatorial hopeful downplays his Texas
investments
The San Francisco Chronicle, 05/24/01

India Appoints Nominee To Dabhol Power Dispute Panel
Dow Jones Asian Equities Report, 05/24/01

INDIA: New Delhi aims to help Enron patch up with utility.
Reuters English News Service, 05/24/01

POLAND: ANALYSIS-Central European gas markets head for shake-up.
Reuters English News Service, 05/24/01

India: A 'hurt' Godbole quits, persuaded to stay on
Business Line (The Hindu), 05/24/01

INDIAN GOVT TO ACCEPT PROPOSALS TO SETTLE POWER DISPUTE
Asia Pulse, 05/24/01

Endesa to sell coal-powered plants operated by Electra de Viesgo (Endesa
incluye una mayoria de centrales de carbon en Viesgo antes de venderla)
Expansion, 05/24/01

Is Pawar playing power politics with Enron?
The Economic Times, 05/24/01

Godbole does a Mamata; quits, then back
The Economic Times, 05/24/01

COMPANIES & FINANCE THE AMERICAS: Dynegy on the lookout for deals
Financial Times; May 24, 2001

May 24, 2001
Houston Chronicle
Stand up, Texas, against California's bullying
By JONATHAN WILCOX
LADIES and gentlemen: May I present to you the Hon. Bill Lockyer, attorney
general of the state of California, from the May 22 Wall Street Journal:
"I would love to personally escort (Enron Corp. Chairman Kenneth) Lay to an 8
x 10 cell that he could share with a tattooed dude who says, `Hi, my name is
Spike, honey.' "
When you stop gagging, join me in celebrating Lockyer's crude, lewd and
unsubdued behavior. It has stripped away whatever veneer of respectability
California officials had by virtue of the offices they hold and exposed them
as braggarts and bullies of the first order. But they also wield enormous and
destructive power -- and they intend to use it.
The sooner Texans realize this the better.
As citizens of the state that is home to much of the nation's energy
production, the people of Texas are intimately familiar with the booms and
busts of the oil and natural gas industries. Sometimes, prices are high, new
supply is nigh and willing buyers can only sigh.
Other times, gluts occur, demand fluctuates, competition grows ruthless and
revenues seep out like the last remnants of black crude from a stripper well.
These are the principles of American capitalism, free market forces and the
give-and-take and push-pull that separate this nation's economic capacity
from all others. It is a fundamentally fair system, it has served us
remarkably well and every time we have tampered with it, it has been to our
ultimate detriment.
Witness California's partial "deregulation" of its electricity market.
The Golden State, for all its vanity, pride and preening machismo, actually
knows very little of tough times. Sure, we can handle the occasional
spectacular episode, like an earthquake or wildfire. That's part of the
thrill of living in California.
But when it comes to our economic expectations and their interrelationship
with our desired lifestyle, we only know the California way: more, more often
and with no end in sight.
And if we don't get what we want, when we want it, it's someone else's fault.
In that light, it is no surprise that we are saddled with our current
governor, Gray Davis, and our current law enforcement chief, the
aforementioned Lockyer.
Despite his frequent jittery appearances on national television, Davis is a
politically shrewd man. He may not know which public policy choices are best
for the state's future, but that's not his highest priority.
Item No. 1 on Davis' "To Do" list is to get re-elected next year. But this
has been complicated by the state's year of energy woes, Davis' ineffectual
response and the fact that California is a largely one-party state.
Of California's eight statewide elected offices, seven are held by Democrats,
including Davis and Lockyer. You don't have to be a Delphic oracle to discern
that if Davis gets tossed out, he will take more than a few of his political
brethren with him.
So, as California tiptoes toward its long, hot summer of rolling blackouts
and unprecedented electricity shortages, Davis is busy digging his personal
bomb shelter. He's preparing for the big one, calculating that while the
damage will be great, and the fallout potentially lethal, he and the other
cockroaches, like Lockyer, will survive.
How will they do this? By finding some fall guys to take the rap.
Call it the Texas two-step: First, Davis declares "war" on Texas energy
producers. Next, Lockyer says he expects to file civil charges against
suppliers, with, he hopes, criminal counts to follow.
For a demonstration of how not to deal with Lockyer and other California
aggressors, examine the rejoinder of Mark Palmer, Enron's vice president for
corporate communications. Lockyer's comment about Lay, he said, "is so
counterproductive that it doesn't merit a response."
Wrong. Weak. Ineffective. Decency in the face of demagoguery may be
dignified, but it's little more than an invitation to further abuse and, for
Enron, public villainy.
Enron had a chance to do something corporations under hostile government fire
only dream about: Embarrass, disarm and neutralize a corrupt public official
out to smear their good name.
By challenging Lockyer to either reassess or renounce his remarks, Enron
could have injected common sense and rare truth into a debate that has become
twisted and warped by the tirades of California officials. Best of all, Enron
could have extracted the kind of retraction that would have adorned Lockyer
with the scarlet "A" of contrite politicians: apology.
Lockyer and other state officials may not yet know the ceiling of scorn Enron
will tolerate from them. But they surely know the floor: Joking with
journalists of the pleasure they would take from the arranged assault of
Kennth Lay in a California prison.

Business; Financial Desk
Markets / Your Money Senate Shift to Ripple Across Industries Politics:
Jeffords' decision could broadly affect range of sectors, from drugs and HMOs
to tobacco and energy.
JOSH FRIEDMAN
TIMES STAFF WRITER

05/24/2001
Los Angeles Times
Home Edition
C-1
Copyright 2001 / The Times Mirror Company

The expected defection of Sen. James M. Jeffords of Vermont from the
Republican Party could markedly affect the drug, HMO, defense, credit card
and tobacco industries, money managers and investment analysts said
Wednesday.
"I don't see any upside for the [stock] market. This looks like gridlock of
the worst possible kind," John Carey, manager of the Pioneer Fund, said of
the switch, which would give the Democrats control of the Senate for the
first time since 1995 and increase their ability to slow President Bush's
legislative agenda.
"The market was beginning to feel confident that the regulatory burden on
business would ease," he added, "and there was even hope for
business-friendly legislation. But no longer."
Analysts said the clearest winners in a switch to a Democratic Senate could
be lenders Fannie Mae and Freddie Mac, whose status as government-sponsored
enterprises is expected to remain intact. Both stocks were up strongly
Wednesday despite a weak market.
Still, most analysts said it's unlikely that a change in the balance of
congressional power would lead to what Carey termed "radical anti-business
legislation." And President Bush's income tax cut, passed by both houses and
headed for a conference committee, also is expected to remain intact.
"But I wouldn't expect another tax cut next year, not anymore," said Greg
Valliere, chief political analyst in Charles Schwab's Washington Research
Group. "The Jeffords defection, if it happens, doesn't mean the Bush agenda
is in tatters. It does mean gridlock for a lot of businesses."
Here's how some major industries could be affected:
* Drug makers
A Democratic Senate could produce a public relations nightmare for the
pharmaceutical industry, already under scrutiny over the pricing of some
medications.
"They can apply more heat to the pharmaceutical industry and inflame issues,
such as [supposedly] charging too much for drugs," said Tom Miller, a policy
analyst with Cato Institute, a conservative think tank.
"There's a headline risk. You know, 'Ted Kennedy Holding Hearings on Drug
Companies,' " added Valliere. Kennedy (D-Mass.) is in line to be chairman of
the Senate Health Committee.
Analysts said such tactics aren't likely to result in legislation, given
Republican control of the House.
Still, Andy Laperriere, a political economist at International Strategy &
Investment Group in Washington, said Democratic Senate control at least would
revive the "potential threat of price controls in some form."
* HMOs
Those stocks were hard hit Wednesday, perhaps as investors envisioned
industry critic Kennedy shaping a so-called patient's bill of rights or
Medicare reform.
Still, a power shift could work in Bush's favor if Kennedy and fellow
Democrats were to block administration health-care proposals at every turn,
said Alan Skrainka, chief market strategist at brokerage Edward Jones. The
GOP could end up gaining seats in the midterm election next year, he said, by
campaigning against stonewallers.
* Defense and aerospace
Most analysts said the expected shift would probably have little impact on
the defense industry, even if the leadership changes in the key committees
such as Armed Services and Appropriations, since both sides of the aisle
agree on the need for more defense spending.
But debate over already contentious issues such as missile defense and
whether to restart production on the B-2 Stealth bomber could intensify.
"These would be bones of contention anyway but maybe more so with the
Democrats' added power in the Senate," said Paul H. Nisbet, analyst with JSA
Partners.
Some analysts said defense stocks have run up since last summer on hopes of
increased spending, perhaps leaving them vulnerable.
* Credit card issuers
The bankruptcy reform bill approved by both houses, considered a boon for
major credit card issuers like MBNA and Bank One, could be watered down or
even killed, Laperriere said.
* Energy
Some money managers suggested environmental restrictions pushed by emboldened
Democrats could hinder a variety of energy companies.
"This news is good for the caribou, that's about it," said Pioneer's Carey,
referring to the chances that a Democratic Senate could block efforts to
drill for oil in sensitive arctic areas. "They can breathe easier."
But a Senate shift might not hurt energy companies as much as some expect,
analysts said. If the Democrats use their Senate control to block elements of
the president's new energy plan, it could be a plus for wholesale power
merchants and traders such as Enron, Reliant Energy and Duke Energy, said
Merrill Lynch analyst Donato J. Eassey.
"With gridlock you're going to have uncertainty, and uncertainty causes
volatility, which is good for [traders]," Eassey said.
Bush's plan to open the Arctic National Wildlife Refuge to limited oil and
gas exploration was politically dicey even before the possible Senate change,
several analysts said.
The majority of oil field services firms might actually do better if the
Alaskan proposal failed, according to analyst Poe Fratt of A.G. Edwards. Only
a handful of such companies stand to benefit from development of the wildlife
refuge tract, he said.
If exploration is blocked there, "more companies will benefit from drilling
elsewhere," he said.
* Tobacco
Huge jury verdicts against cigarette makers in recent years "really started
when industry executives got dragged before the Senate," Laperriere said, so
tobacco companies wouldn't look forward to another round of hearings. He
called new hearings "a real possibility" if the Democrats are running the
Senate.
* Fannie and Freddie
Laperriere said the threat of policy changes that would affect regulation of
Fannie Mae and Freddie Mac would be diminished under a Democratic Senate.
He noted that instead of Phil Gramm (R-Texas) leading the Senate Banking
Committee, it would be led by Paul S. Sarbanes (D-Md.), a major supporter of
the popular lending agencies.
* Telecommunications
Some analysts said chances for deregulation--for example, allowing the Baby
Bells fully into the long-distance market--won't survive a power shift in the
Senate.
"There was hope that the Telecommunications Act, which has actually impeded
competition, might be revisited," Carey said. "If this [Jeffords situation]
is bad news for any industry, it's telecom."
But several analysts and investors said the market impact of the Jeffords
defection already has been overblown. "The biggest thing we needed from this
administration was the tax cut, and it looks like we're getting it," said
Robert Nichols, chairman of Windward Capital Management in Los Angeles.
*
Times staff writers Denise Gellene, Thomas Mulligan and Peter Pae contributed
to this report.
RELATED STORIES
Switch: Jeffords has told aides he will quit the GOP today. A1
Markets: Stocks fall as investors mix caution with confidence. C4

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

May 24, 2001
Houston Chronicle
Brazil asking power users to cut back
Officials want to pare consumption by a fifth
Copyright 2001 Houston Chronicle News Services
SAO PAULO, Brazil -- The towering offices of Banco Itau and Microsoft Corp.
in Brazil's financial heartland greeted nightfall with their trademark lights
turned off.
Store owners celebrated astronomic weekend sales of energy-saving lamps.
That's good news as the government asks the nation to chop 20 percent off
energy consumption to avoid widespread blackouts and to haul South America's
biggest country and economy out of a chronic power shortage sparked by
drought.
"We are in the hands of the public. If people manage to economize 20 percent,
the likelihood of blackouts will be very small," said Mauro Arce, Sao Paulo
State energy secretary and member of an anti-crisis task force.
The plan to stave off California-style electricity cuts has borne encouraging
results so far. The program asks consumers, companies and industry to cut
electricity use by 15 percent to 25 percent, with the threat of price
surcharges of 50 percent to 200 percent. But it will come at a cost.
Economists fear rationing and its consequences could knock Brazil's economic
growth to less than 3 percent from expectations of 4 to 4.5 percent.
Government officials only say it will slow the economy but will not predict
how much.
And it may trigger moves by the government to encourage the aggressive power
plant program that has long been needed. Power plant builders, including
companies with big presences in Houston, have delayed plans to build plants
because they fear losses from the risk from local currency devaluations.
Rationing officially begins June 1 across most of Brazil, although its
biggest cities have already dimmed street lighting, and consumers have turned
to candles.
The government estimates it needs to expand the country's generation capacity
by 50 percent, or 31,000 megawatts, by 2008 at a cost of about 33 billion
reais, or $14 billion.
Brazil's power shortage has been hidden over the years by overuse of
reservoirs. The government increased generation in years with good rain by
failing to let the reservoirs fill to capacity. Hydroelectric power is
responsible for about 85 percent of Brazil's generation capacity.
"In the last 40 years there have been plenty of droughts, but we've never
been forced to ration energy," said Lido Luis Sauer, an energy-studies
professor at the University of Sao Paulo.
Reservoirs, the professors said, were often allowed to fill only to 70
percent of capacity. Reduced rainfall has cut the reservoir levels to as low
as 30 percent.
"We're on the verge of trying to generate power with mud," Sauer said. "We've
been warning them for years that this risk exists, but they told us `don't
panic.' "
For now, the power grid here depends on the weather and the cooperation of
the public.
If water levels fall farther, the country may need to cut up to 40 percent of
consumption, Arce said. Rationing is set to last through November, when the
rainy season resumes.
With cooperation and the weather on its side, the energy task force will just
need some understanding from the public.
In an early sign of irritation, Sao Paulo Internet company ATN Internet filed
a lawsuit seeking a judicial ban on power cuts. And Supreme Court President
Marco Aurelio Mello said some of the government's measures violated the
constitution.
"Unfortunately, the filing of injunctions and lawsuits has become a national
sport," said Pedro Parente, head of the task force. "The situation today is
serious. We need this to be understood by the judiciary."
If the public cooperates, Parente said the government could relax some of its
rationing measures. The task force had banned energy contracts for new
commercial or industrial projects.
Brazil's government realizes it has to end the drought in power plant
construction and is considering a program to protect some electricity
utilities from currency risk to attract the $14 billion it needs for new
power plants.
Companies such as AES Corp., Duke Energy Corp. and El Paso Energy Corp. have
delayed or limited expected investment in natural gas-fired generation plants
on concern that government rules limit their ability to pass along increases
in dollar-denominated fuel costs to electricity consumers who are billed in
reais, the local currency.
Devaluations cut the revenues of the power plant builders, but not their
expenses.
"The government hasn't had a policy to attract investment to generation,"
said Frank McGann, an oil analyst with Merrill Lynch & Co. in New York. "An
adjustment in gas prices is a major step forward, which should have been
taken two years ago."
The failure to build plants has come despite natural gas supplies piped in
from Bolivia, Argentina and fields of Brazil's Atlantic coast and a national
"emergency plan" to encourage the building of dozens of new plants to make up
the shortfall.
A new natural gas supply contract with power producers may spur some
much-needed construction.
Under the currency guarantee proposal, which could be adopted as government
policy as early as this week, Petroleo Brasileiro SA, the state-controlled
oil company, which is the lead investor in the country's major pipelines,
would sell gas to generators under a one-year contract with a fixed price in
reais, said Energy Minister Jose Jorge de Vasconcelos Lima.
If the dollar price of gas rose during the contract, Petrobras would charge
the difference to a special account. The generator would pay off that
account, plus interest and Brazilian inflation, by including them as part of
the next one-year, fixed price contract at the same time that the government
raises consumer power rates, a spokeswoman for the Energy Ministry said.
A utility now has to pay Petrobras and other distributors the market rate,
but is limited in the amount of the increase it can pass on to consumers.
With rationing likely to raise distributors' costs -- slashing profits more
-- these companies are reluctant to invest in any new venture, including
generation.
"It has never been decided who will pay for foreign exchange losses in the
gas contracts," said Luiz Maurer, vice president for the Brazilian
association of energy trading companies, as well as head of regulatory
matters for Enron in Latin America.
Enron, for its part, is moving ahead with plans to build about 800 megawatts
of new generation capacity. The move, as well as plans by Petrobras to become
a minority investor in a series of gas-fired plants, is a direct result of
the same problem.
With other companies holding back on generation projects, Enron and other gas
distributors need a market for their natural gas. AES said recently it may
cancel $240 million in investments in three plants.
"If we don't build plants or help others build them, we will be in an even
worse situation," said Ron Vaz Moreira, chief financial officer of Petrobras.
"We won't have any market for our gas."

California Official Cites Evidence of Electricity Price Manipulation
Mike Taugher

05/24/2001
KRTBN Knight-Ridder Tribune Business News: Contra Costa Times - Walnut Creek,
California
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

An investigation into electricity prices has turned up evidence that
generators are throttling their power plants up and down to drive up prices,
according to California's top utility regulator.
Loretta Lynch, president of the state Public Utilities Commission, said
Wednesday that an investigation started last year to examine electricity
prices, and which later turned to examine unprecedented numbers of power
plant outages, has found instances where generating units were backed down
until electricity emergencies were declared and then brought back up in such
a way as to maximize profits.
"What we saw was a pattern of individual behavior," Lynch said.
Generators acknowledge that they vary the output from their power plants, but
say they do so for legitimate business reasons. Included among those reasons
is a little-known tactic to insure themselves against breakdowns that would
be limited under a federal order that is to take effect next week.
Although Lynch would not reveal more specifics, her comments, which echoed
revelations she made before a state Senate committee last week in Southern
California, come as accusations, legal threats and rhetoric are all swirling
to a boil.
Earlier this week, Attorney General Bill Lockyer, whose office is working
with the PUC in one of several ongoing electricity market investigations,
reportedly said that he wanted to escort Enron Corp. Chairman Kenneth Lay to
a prison cell "that he could share with a tattooed dude who says, `Hi, my
name is Spike, honey."'
The heated rhetoric and continuing legal threats have infuriated generators,
who continue to trot out figures showing that they are running power plants
harder than ever.
"There's nothing that gets under our skins more than somebody --some
government official -- who is ill-informed making those judgments," said Tom
Williams, a spokesman for Duke Energy, a North Carolina-based company that
owns three major power plants in California and is building a fourth.
Duke generated 50 percent more electricity from those plants last year than
it did the previous year, Williams said. And the company is on track to
generate even more this year, he added.
But Lynch and other state leaders are becoming increasingly hostile in their
remarks about the half- dozen out-of-state power companies that bought
utility-owned power plants in 1998 and 1999 as the state moved to restructure
the electricity industry.
Lynch said state regulators are at least a month away from taking legal
action, but she also said that in addition to looking at power plant outages,
the investigation was looking at patterns in the way power plants are run,
allegedly to influence prices and then capitalize on them.
"There are several ways the generators game the system," she said.
The companies acknowledge they might limit output because of environmental
restrictions and in situations where the cost of running a plant is higher
than the price they could get for electricity at a given point in time.
But there is another reason, too. It is a practice that has troubling
implications because it sets up a situation where the higher prices go, the
more incentive companies have to hold back power.
Documents filed with the Federal Energy Regulatory Commission show that some
companies ease off their units' throttles in order to insure themselves
against the possibility of a breakdown at another unit. Their logic is this:
Energy companies typically sell electricity in advance, so they have an
obligation to provide that electricity to their buyers. If they are running
at 100 percent capacity and a unit breaks down, the company has to scramble
to buy electricity at high, last-minute prices in order to meet its
contractual obligations.
Last summer, for example, a large, 750-megawatt unit at Duke's Moss Landing
power plant broke down, and Duke found itself spending $1.2 million an hour
to meet its contracts.
By holding some of their power-generating capacity in reserve, the companies
can insure themselves against a breakdown somewhere else. And the higher
prices go, the more insurance they might want to keep.
"That is a rationale they are using," said PUC energy division director Paul
Clanon.
Duke, Mirant Corp. and Pacific Gas & Electric were among the companies who
objected to a draft order from federal regulators that would put an end to
the practice of withholding power from the spot-market to cover the
possibility of a breakdown.
In papers that Mirant filed with FERC, the Atlanta-based generator said that
if its ability to withhold power in that way was restricted, then regulators
should allow the company to charge even more for its electricity.
But FERC shot that argument down, saying that although it is reasonable for a
company to not sell all of its electricity ahead of time, there is no reason
to hold back power from the hour-to-hour spot market, as Mirant wanted to do.
The federal commission said that, contrary to Mirant's claims, "the generator
faces no financial risk" if it is forced to sell all its available power on
the spot market.

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

NEWS
Shrugging off energy ties / GOP gubernatorial hopeful downplays his Texas
investments
Carla Marinucci
Chronicle Political Writer

05/24/2001
The San Francisco Chronicle
FINAL
A.3
(Copyright 2001)

Wealthy GOP gubernatorial hopeful Bill Simon Jr., on a campaign stop
addressing California's power crunch yesterday, kicked off his own personal
energy crisis when he confided to an energy executive, "I'm an oil and gas
man from way back."
Simon, son of the late Nixon Treasury Secretary William E. Simon, later
insisted that he misspoke.
But in his first open campaigning in Northern California, the Los Angeles
businessman and philanthropist acknowledged both energy investments and his
role as a former board member of Houston's Hanover Compressor Co. The
publicly traded energy-related firm is a market leader in natural gas
compression and counts among its partners the Texas energy giant Enron.
Simon, who has also invested in educational technologies, Internet firms and,
most recently, South of Market real estate in San Francisco, stressed
yesterday that stocks in energy-related firms are only a small part of his
portfolio.
But ties to a Texas energy firm could negatively affect his first run for
public office in California. A Field Poll released this week showed an
increasing number of Californians holding energy firms responsible for power
shortages.
And, as President Bush prepares to visit the state next week, Texas oil and
gas firms have specifically been the target of Gov. Gray Davis, who asserts
that their hunger for profits accounts for the crisis.
Hanover Compressor, traded on the New York Stock Exchange under the symbol
HC, has 2,700 employees and had an estimated worth of $2.6 billion on April
30, according to a recent financial report.
A 1996 report in Oil and Gas Investor magazine described Hanover as a
fast-growing, profitable innovator in technologies to compress and transport
natural gas. The firm signed a $130 million deal with Enron Capital and Trade
Corporation in 1995, according to the magazine.
Yesterday, Simon insisted that he is not strongly tied to the firm, and said
that if he runs, he will release financial statements showing his holdings.
"I'm not an oil and gas man," Simon told The Chronicle. "Speaking loosely, I
said I have experience in looking at oil and gas investment opportunities.
"I was one of a group. I was on the board for a little bit," he said of his
relation to Hanover. "I still have a small piece. . . . We still have some
ownership of it . . . (but) I'm not active, never really was."
The focus on Simon's energy holdings came as the prospective candidate toured
Lawrence Livermore National Laboratory.
Simon also heard presentations -- and pitches for venture capital - - from
two energy executives: Rick Jeter, who heads X.L. Operating, a Fort Worth,
Texas, oil and gas producer; and Steve Doyle, chief executive of Clean Energy
Systems. As Simon met with them after their presentations, his greeting to
Doyle, overheard by reporters, was, "I'm an oil and gas man from way back."
"Hanover Compression was one company that we started 10 years ago now," he
explained to reporters. "It promotes the efficient use of gas. It helps it
come out of the ground. It helps it be transported. It's good technology.
"We have to continue to focus on these kinds of energy efficiencies," he
said. "This is our way out, ultimately, of the energy crisis."
Asked the extent of his financial interest in that and other energy-related
firms, Simon could not provide specifics. "I'd have to get you those
numbers," he said.
But he said, "We've looked at a broad variety of opportunities in virtually
every industry in the country. Oil and gas is one. . . . I'm not specific to
this industry. I'm an eclectic investor."
On energy issues, Simon said he would be "willing to look at" expanding oil
drilling in California, though he said he was opposed to offshore drilling.
He said he could support "temporary" price caps on the wholesale costs of
energy, but insisted any details would require more study. "You have to know
how urgent the problem is with respect to the supply and balance," he said.
Asked if Davis has been fair in criticizing Texas firms, Simon said, "I think
he ought to quit pointing fingers and start focusing on solutions."
But he said he did not yet have a detailed energy plan, adding, "We're
putting it together right now."
Simon, 50, said he expects to make his announcement about a gubernatorial run
the first week in June.
He told potential volunteers yesterday he would be a "major investor" in his
campaign, but would also raise funds for the estimated $40 million to $60
million needed in a gubernatorial race.
Simon said he is exploring his first political run because "I'm always
interested in being of service. I think here's a place I could be of some
help."
But "the reason I'd like to seek the office of governor, as opposed to
controller or even run for the Assembly, is that's where we have to focus our
attention," he said. "If you have a weak top of the ticket, you have less of
a chance at being elected further down on the ticket. Normally, I'm just
working my way up, paying my dues, but in this situation, I don't know we
have that option."

PHOTO (2); Caption: (1) Bill Simon Jr. listened to a presentation at Lawrence
Livermore National Laboratory while former U.S. Energy Secretary John
Herrington sat behind him., (2) On a campaign swing through Northern
California, Bill Simon Jr. got a lesson in forensic science at Lawrence
Livermore National Laboratory. / Photos by Michael Macor/ The Chronicle

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

India Appoints Nominee To Dabhol Power Dispute Panel

05/24/2001
Dow Jones Asian Equities Report
(Copyright (c) 2001, Dow Jones & Company, Inc.)

BOMBAY -(Dow Jones)- The Indian government Thursday announced measures,
including the appointment of a retired senior official as its nominee on the
negotiating panel that is sitting with Enron India Pvt. Ltd., to resolve the
Dabhol power supply dispute.
Retired Telecom Secretary A.V. Gokak has been appointed as the government's
nominee on the negotiating panel - set up by the state government of
Maharashtra - that's made up of state and federal government officials and
officers of Maharashtra State Electricity Board, or MSEB.
The long-standing dispute is over power tariffs on electricity generated from
a plant of the Dabhol Power Co., the Indian unit of U.S.-based Enron Corp.
(ENE). The plant that will generate 1,444 megawatts of power when the second
phase is completed later this year is India's biggest foreign investment to
date at $3 billion.
In a further move Thursday, New Delhi has set up a committee of senior
officers from various ministries to examine any proposals that might emerge
from the negotiating panel.
The panel was set up after last month's delivery to Maharashtra government of
the Godbole Report, a 198-page document prepared by a five-member team headed
by former federal home secretary, Madhav Godbole.
A key recommendation of the report included the renegotiation of a power
purchase agreement between the Dabhol Power Co. and the MSEB.
The negotiating panel was due to meet Wednesday for a second round of talks
with senior executives of the DPC but was cancelled after Godbole resigned
over criticism levelled by leader of the National Congress Party Sharad Pawar
that implied the panel had negative attitudes. Godbole subsequently withdrew
his resignation.
A further meeting has been scheduled Tuesday.
Meanwhile, federal Minister of Power Suresh Prabhu confirmed Thursday that
the Indian government is ready to consider any worthwhile idea emerging from
the negotiating panel.
- By Steve Percy, Dow Jones Newswires, 91 22 2884211; steve.percy@dowjones.com

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

INDIA: New Delhi aims to help Enron patch up with utility.

05/24/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, May 24 (Reuters) - India's federal government will help Enron Corp
and Maharashtra state resolve their wrangle over the U.S. energy giant's
troubled $2.9-billion power project, an official statement said on Thursday.
Dabhol Power Co, 65 percent owned by Enron, and the Maharashtra State
Electricity Board (MSEB) have been embroiled in a dispute over payments for
six months.
The dispute provoked the Houston-based Enron Corp to issue a preliminary
notice last week to terminate its contract to sell power to the utility.
"The government of India will assist in the implementation of any agreed
proposals, which have the support of the concerned parties," the statement
said.
The federal government has nominated a representative in the state's panel
negotiating with Enron.
Another committee of senior officials has been set up in New Delhi to assess
the outcome of the negotiations, the statement said.
"The (junior) power minister, Suresh Prabhu, has confirmed that the
government of India is ready to consider any worthwhile idea emerging out of
the negotiating committee for the settlement of the dispute."
The statement said the federal government wanted the state to resolve the
dispute.
"The government of India is of the view that a quick settlement of the
dispute is essential for the power sector of Maharashtra."
The 2,184-MW power project was regarded as a test case of India's plans to
encourage private investment in the power sector.
The first phase of 740 MW of the project is up and running, while the second
phase of 1,444 MW is slated to be completed next month.

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

POLAND: ANALYSIS-Central European gas markets head for shake-up.
By Marta Karpinska

05/24/2001
Reuters English News Service
(C) Reuters Limited 2001.

WARSAW, May 24 (Reuters) - Central Europe's gas market is heading for a
shake-up as Poland nears the go-ahead for a disputed transit pipeline and the
neighbouring Slovak and Czech republics launch key sector sell-offs, analysts
say.
The Polish government plans to examine an industry-backed proposal for a gas
link connecting Belarus and Slovakia-based transit systems which would carry
fresh Russian supplies to western Europe.
"The recommended route is not the worst possible, and I do not rule out that
the cabinet will approve it, although we may need some small adjustments,"
Economy Minister Janusz Steinhoff told reporters on Wednesday.
Russian Prime Minister Mikhail Kasyanov, who arrives later on Thursday in
Warsaw for a three-day visit, is due to meet Economy Ministry officials and
is expected to try to talk up the Russia-favoured pipeline project.
The decision - which could terminate an alternative plan by Russia's giant
Gazprom to lay a more pricey pipeline along the bed of the Baltic Sea - may
affect a key gas sell-off pending in neighbouring Slovakia, analysts said.
"Gazprom is very interested in the region, particularly in the Slovak transit
system, but its decision will partly depend on whether the new transit will
run across Poland," said Evgeny Solovyov, sector analyst at SG Securities in
London.
SLOVAK TRUMP CARD
Analysts say the sale of the Slovak SPP gas group, including a powerful and
highly lucrative gas transit system, is sure to attract heavy investor
interest and become the largest ever sale in the country.
"The national businesses in central Europe are all like individual pieces of
one puzzle, and Slovakia's SPP is the most important piece of that picture,"
said Bidzina Bejuashvili, oil and gas analyst at Raiffeisen Zentralbank in
London.
Last year SPP shipped almost 90 billion cubic metres (bcm) of Russian natural
gas to western Europe, making Slovakia the top cross-region gas transit
route.
The state wants to sell 49 percent of SPP - also a gas distribution and
transportation monopoly - all of which will likely go to a strategic
investor. A rough price tag put by analysts on the entire SPP varies from $2
billion to $8 billion.
So far, Gazprom and a consortium of Ruhrgas, Gaz de France PR and Italy's
Snam - a gas distribution arm of Eni - have expressed interest in acquiring
the stake.
Germany's RWE Gas and Wintershall have also said recently they would jointly
bid for the gas group.
The German consortium said it would bid too for SPP's neighbour, Czech gas
import monopoly Transgas, which the government wants to sell with eight gas
distributors, in a sale which attracted 14 preliminary bids earlier this
week.
"Czech and Slovak national markets are simply too small, and whoever pursues
the respective gas assets is likely to be looking for their transit pipelines
connecting Russian supplies and western consumers," said Bejuashvili.
POLISH LINK
Analysts say that Gazprom, Snam, Gaz de France, as well as Ruhrgas and
Wintershall - all involved in a consortium to build the Polish transit link -
will likely be the frontrunners in the regional gas asset acquisitions.
The consortium is now carrying out a feasibility study on a powerful transit
pipeline route running mostly along Poland's eastern border, but avoiding
most of its eastern national parks, due to link Belarussian and Slovak
pipelines.
Poland had initially opposed the transit project fearing the new volumes
would be complemented with Russian gas from the pipelines of its strategic
ally, Ukraine. But it has surrendered to pressure from both its commercial
partners and the European Union - which it is negotiating to join.
The government had hoped the new pipeline, likely to replace a previously
planned second stretch of the existing east-west Yamal pipeline running
across Poland, would be used to supply some Russian gas imports to its
industrial southwest.
The Yamal pipeline, which now has a capacity of 18 billion cubic metres (bcm)
per year, needs $350 million for three compressor stations to boost its
capacity to a planned 32 bcm.
POLISH POTENTIAL
Analysts said that Poland's 39-million-consumer market and relatively low gas
usage - only 8.5 percent of total primary fuel consumption - make the
domestic gas market growth potential much higher than that of its neighbours.
"It is quite reasonable to assume that Polish gas consumption will grow at a
faster pace than its economic growth in coming years," said Solovyov.
Poland's gas monopoly PGNiG expects last year's consumption of 10.9 bcm to
grow by five percent per year over the next three years to reach almost 13
bcm by 2003.
The government's long-range forecast - which a lot of analysts say is too
high - sees annual gas consumption up to 18.4 billion cubic metres by 2010.
In a highly disputed plan the Polish government wants to sign a long-term
agreement with Norway later this year which would enable it to diversify from
its currently mainly Russian gas supplies, and boost import volumes by 5 bcm
as of 2007.
"There is absolutely no guarantee the consumption will grow as expected, and
signing a new long-term contract may result in PGNiG being highly
overcontracted," the head of Enron Polska, Jaroslaw Astramowicz, told a
recent industry seminar in Warsaw.
Poland already has a 25-year deal with Russia under which it must buy up to
14 bcm annually, and analysts warn that a new long-term deal may seriously
dent the financial standing of Polish gas distribution firms ahead of their
planned sell-off.
Poland does not plan to start selling its four gas distributors until next
year, but analysts say that September general elections, strongly tipped to
be won by the opposition social democrats, may delay those plans further.

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

India: A 'hurt' Godbole quits, persuaded to stay on

05/24/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

MUMBAI, May 23. DR MADHAV Godbole, Chairman of the Enron renegotiation panel,
resigned this morning but the Maharashtra Government persuaded him to stay
back and continue the renegotiation process with Enron. Dr Godbole withdrew
his resignation in the evening. The second meeting of the panel which was
scheduled for today with Enron representatives did not take place because of
the Chairman's resignation.
When contacted, Dr Godbole said: "I am withdrawing my resignation in the
light of the Chief Minister's letter to me in which the Cabinet has
unanimously asked me to take back my resignation. They have placed complete
faith in me and the committee. The Cabinet has asked me to carry on with the
complex and onerous task of negotiating with Dabhol Power Company."
Dr Godbole also said he had received calls from different political parties
and various other organisations asking him to reconsider the decision to
quit. He considered it a vote of their confidence in the committee and its
working.
Dr Godbole had quit in reaction to "derogatory remarks" made by the
Nationalist Congress Party (NCP) leader, Mr Sharad Pawar.
Last night, Mr Pawar had reportedly made a statement saying he was
"apprehensive of the outcome of discussions with Enron as those leading the
talks from the Government's side are working with a negative approach".
Dr Godbole submitted his resignation to the Chief Minister saying he was
"hurt" by Mr Pawar's statement. The NCP is one of the leading partners in
Maharashtra's Government.
"We will try and clear this misunderstanding. He (Godbole) has been appointed
by the State Government. And the Government has no doubt about the
committee's working. We want him to continue on the panel," Mr Chhagan
Bhujbal, Deputy Chief Minister and NCP leader, said.
- Our Bureau

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

INDIAN GOVT TO ACCEPT PROPOSALS TO SETTLE POWER DISPUTE

05/24/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, May 24 Asia Pulse - The federal government will accept
recommendations of the renegotiating committee headed by the Madhav Godbole
for the settlement of the dispute between Dabhol Power Company (DPC) and the
Maharashtra State Electricity Board (MSEB).
A government statement quoted Power Minister Suresh Prabhu as saying, "The
Government of India is ready to consider any worthwile idea emerging out of
the renegotiating committee for the settlement of the dispute."
The proposal, Prabhu said, has to be acceptable to the parties to the dispute
- MSEB and Enron-promoted DPC - adding that a quick settlement of the
differences was essential for the power sector of Maharashtra.
DPC had last week slapped a preliminary termination notice (PTN) on MSEB
following the dispute over payment of power bills.
While former telecom secretary, A V Gokak, has been appointed as the federal
government's nominee on the Godbole Committee constituted by the Maharashtra
Government, a committee of senior officers of the concerned ministries has
been set up to quickly examine the proposals emerging out of the negotiating
committee, the statement said.
The committee officers comprise officials of Ministries of Finance, Power and
Petroleum.
(PTI) 24-05 2000

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

Endesa to sell coal-powered plants operated by Electra de Viesgo (Endesa
incluye una mayoria de centrales de carbon en Viesgo antes de venderla)

05/24/2001
Expansion
Copyright(C) 2001 Abstracted from Expansion in Spanish, Source: World
Reporter (TM)

Endesa, the Spanish electricity company, has decided which assets to sell and
it will auction its Electra de Viesgo subsidiary, which has 560,000 clients
in the Cantabria region. This company has 2,610MW of generation assets and 36
per cent of its plants are coal powered. Electra de Viesgo is estimated to be
worth over 2bn euros (Pta332bn). Endesa is carrying out the sale in order to
raise funds which will finance operations in other European countries and it
has invited European and US energy companies to the auction. These include
Hidrocantabrico, of Spain; Eon and RWE, of Germany, and Enron and AES, of the
US. The winner will gain 3 per cent of the Spanish electricity distribution
market and 5 per cent of the generation market.
Hidrocantabrico is regarded as the favourite to acquire Electra de Viesgo.
Its market, Cantabria, borders Asturias and the cost of integrating the two
companies will enable it to make a higher offer than its rivals. However,
Hidrocantabrico's complicated shareholder situation (EDP, EnBW, CajAstur and
Ferroatlantica have to agree on the company's management), may be a
hindrance. In order to carry out the sale, Endesa will transfer a series of
power plants located throughout Spain to its subsidiary. These plants will
represent a quarter of the generation assets to be sold by Endesa. The
decision to sell follows Endesa's failed merger attempt with Iberdrola and
will enable the company to invest without increasing its debts. According to
market sources, Endesa may resume plans to merge with Iberdrola following the
sale.

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

Is Pawar playing power politics with Enron?
Girish Kuber

05/24/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

MAHARASHTRA'S former chief minister Sharad Pawar's statement criticising
Madhav Godbole, the head of the renegotiation team, and the timing chosen by
him to air his views, has focused attention on his role in the Enron
controversy.
Pawar, who had first inked the Enron deal as the chief minister of
Maharashtra in 1992, was at the center of controversy when the Opposition
accused him of "favouring" the US energy giant.
The issue of Rs 64 crore being spent by Enron on "educating" Indians had
become a political issue in the 1995 state Assembly elections which Pawar
lost.
In more recent times, Pawar has repeatedly intervened at crucial junctures.
On the eve of Wednesday's session of the Godbole panel, Pawar criticised
Godbole of having " a negative attitude" about Enron. Though Pawar did not
name Godbole, the message was loud and clear.
His statement comes at a time when the Maharashtra State Electricity is
planning to issue a pre termination notice to Enron after the Godbole panel's
scheduled meet on Wednesday.
The board officials had discussed the issue with the state's advocate-general
and were believed to have received a go-ahead from chief minister Vilasrao
Deshmukh.
Last October, when the state government had decided not to pay Enron's bills,
Pawar convinced the state government to release Enron payments. It was after
his intervention that the state government decided to appoint a committee to
review the project.
Surprisingly, last month, when Deshmukh had a meeting with Yashwant Sinha and
Suresh Prabhu at Delhi, Pawar was seen accompanying the chief minister though
his name did not figure on the official list of invitees.
However, subsequently, the committee could not be formed since the faction
loyal to Pawar in the state government was clearly against Godbole's
appointment.
State energy minister and Pawar's trusted aide, Padmasinh Patil, had publicly
expressed his ire against Godbole. It was only after the Janata Dal, Peasents
and Workers Party, CPI (M) and other anti-Enron groups threatened to withdraw
support of the government, the Godbole Committee came into being. But not
bofore a month was lost in a wrangling. Even after the committee's formation,
Patil continued his tirade against Godbole.
It was only chief minister Deshmukh's support that the Godbole Committee
could survive the opposition from within. Political observers believe that it
was the Congress' strategy to support the Godbole Committee that at the end
could expose the wrongdoings of the earlier governments.
As expected, the Godbole Committee, in its first report, exposed what it
called the "lack of governance at every stage" in finalising the Enron deal.
Godbole even suggested a judicial probe to pin those guilty for this "faulty
deal".
It was against this backdrop that Pawar's views on Godbole created a flutter
on Wednesday. Although Godbole withdrew his resignation, it has certainly
widened the rift between the NCP and Congress.

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

Godbole does a Mamata; quits, then back
Our Bureau

05/24/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

IT'S not a comparison that springs naturally to mind. But Madhav Godbole, the
former home secretary in charge of renegotiations with Enron, on Wednesday
managed a passable imitation of Mamata Banerjee by resigning in the morning
and withdrawing his resignation later in the day.
In a day marked by considerable drama that briefly threatened the
renegotiation process with Enron, Godbole decided not to press for his
resignation after chief minister Vilasrao Deshmukh personally expressed "full
faith and confidence" in his ability to "handle the complex and onerous task
of renegotiation".
Earlier in the day, Godbole, who took offence to former chief minister Sharad
Pawar's "derogatory" remarks, decided to walk out of the panel.
Pawar had last on Tuesday night said he was doubtful about the outcome of the
ongoing renegotiations between the state and DPC as those heading the state
government's panel did have a positive approach to resolve the issue.
Godbole's swift decision to quit the panel sent shock waves at the Mantralaya
-- headquarters of the state government -- as it seemed to threaten the
existence of the government.
The Janata Dal, Peasants and Workers Party and other splinter groups went to
the extent of saying they would pull out of the nine-party coalition if
Godbole's resignation was accepted.
Following these development, the state government had to cancel the crucial
second round of renegotiations with DPC slated for Wednesday. Enron and the
Centre's representative were to attend the meet.
"I have resigned due to the derogatory remarks made against me by Sharad
Pawar last night," Godbole said on Wednesday morning.
Godbole said instead of strengthening the negotiator's hands, such statements
"loosen the concerned authority's grip over the fragile situation".
However, chief minister Vilasrao Deshumukh appealed to him to reconsider his
decision. "Godbole's in-depth knowledge and experience makes him
indispensable for handling vexed issues such as renegotiation with the US
energy giant," Deshmukh said.
Deshmukh, after the Cabinet meet, sent a letter to Godbole expressing full
confidence in him. "Godbole should not respond to statements from those
outside the government," said Deshmukh.
Meanwhile, Pawar, too, tried to control the damage. "It was my personal
opinion that was not aimed at any particular person. Godbole should not have
resigned. He should complete his task."
Interestingly, Chagan Bhujbal, the state's deputy chief minister, was put on
a re-fighting mission and asked to express faith in Godbole on behalf of the
NCP, led by Pawar.
Later in the evening Godbole decided not to press for the resignation. "I
have received a letter from the chief minister expressing full confidence in
my abilities. It also states the views expressed by Sharad Pawar were his
personal views. He has said the state government had appointed me and they
had no complaints against me. I, therefore, see no reason to press for my
resignation," Godbole said.
Meanwhile, the next meeting of the renegotiating panel has been convened on
May 29.

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

		COMPANIES & FINANCE THE AMERICAS: Dynegy on the lookout for deals
Financial Times; May 24, 2001
By JULIE EARLE

		Dynegy, the US gas and electricity supplier, has told analysts it will make
large imminent acquisitions or mergers in the US and overseas.
		The company told analysts at a conference in Texas on Tuesday that it was
keen to make mergers and acquisitions in the near future.
		The deals could include generation assets, gas pipeline and storage
infrastructure, entire utilities and communication assets. Dynegy's customers
are in North America, the UK and elsewhere in Europe.
		Dynegy, which is Houston-based, was tight-lipped yesterday about any possible
deals, saying only that it was "always looking for opportunities to enhance
shareholder value".
		The company told analysts it had an active oil, liquids, gas and power group
fully integrated with its US operations, and was "poised to exploit
opportunities".
		It said it would like to own more European assets, but added that prices
remained high, despite an oversupplied market.
		Jay Yannello, an analyst for UBS Warburg in New York, said Dynegy could
leverage aggressively any assets within its network infrastructure.
		"We would not rule out substantial transactions," he said.
		Dynegy told analysts it was looking for 10 per cent of the US power market
and an ongoing 15 per cent share of the US gas market.
		Dynegy and its competitors, including Enron and El Paso, have been recording
big profits in the past two quarters, and and have come under fire from
regulators over the California power crisis.
		Copyright: The Financial Times Limited


Molly,

It's OK (even if the answer is ex post).

Vince

	Enron North America Corp.

	From:  Molly Magee                           10/19/2000 08:45 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: Flight

Vince:   Would this be okay with you?

Molly
---------------------- Forwarded by Molly Magee/HOU/ECT on 10/19/2000 08:44
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  jlew <jlew@kent.edu>@kent.edu>                           10/18/2000
07:30 PM

To: Molly.Magee@enron.com
cc: jlew@kent.edu
Subject: Flight

Dear Molly,

I asked about change of the departure city.  They said I should send my ticket
back to get a new ticket. Since Aquila provides the ticket, it's hard for me
to change the departing place. If possible, can I ask you to arrange the one
way flight from Houston to Seattle on the evening of 25th?  I'm sorry for
this.

Thank you very much.

Sincerely,

Jaesoo Lew


Basnea Corp.
Basne Energy Management
DeviaOne


This message is intended for eHRonline users only.

Due to a recent change to eHRonline, the URL (aka "Web address") for
accessing eHRonline needs to be changed on your computer.  The change
involves adding the letter "s" to the "http" reference in the URL.  The URL
for accessing eHRonline should be:   https://eHRonline.enron.com.

This change should be made by those who have added the URL as a favorite on
the browser.


FYI
----- Forwarded by Mark Taylor/HOU/ECT on 05/08/2001 10:39 AM -----

	exchangeinfo@nymex.com
	05/07/2001 04:02 PM

		 To: mark.taylor@enron.com
		 cc:
		 Subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades)

Notice # 01-154
May 7, 2001

TO:
All NYMEX Division Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Implementation of New NYMEX Rule 9.11A (&Give-Up Trades8)

DATE:
May 7, 2001
===========================================================
Please be advised that beginning on the trade date of Friday, June 1, 2001,
new NYMEX Rule 9.11A (&Give-Up Trades8) will go into effect.

! In the absence of an applicable give-up agreement, new Rule 9.11A will
define the respective responsibilities/obligations to an order of executing
brokers, customers and Clearing Members.

! The term &executing broker8 as used in Rule 9.11A refers to the registered
billing entity, Member Firm or Floor Broker to whom the order is transmitted.

! Rule 9.11 will provide that, in the absence of an applicable give-up
agreement, a Clearing Member may reject a trade only if: (1) the trade
exceeds trading limits established by the Clearing Member for that customer
that have been communicated to the executing broker as provided by the rule
or (2) the trade is an error for which the executing broker is responsible.

! The new rule also places affirmative obligations on executing brokers to
confirm Clearing Member authorization for an account.  For example, prior to
an executing broker accepting and executing an initial order for any new
customer account, such executing broker must confirm with the Clearing Member
by telephonic, electronic or written means, that:
(a) the customer has a valid account with the Clearing Member;
(b) the account number;
(c) the brokerage rate;
(d) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(e) a listing or summary of persons authorized to place orders for that
account.
Moreover, the executing broker must retain a copy of the authorization or the
specifics of the telephonic confirmation, which includes: opposite party,
date, time, and any other relevant information.  The Compliance Department
will conduct periodic audits of such records, and falsification of such
information shall be the basis for disciplinary action.

If you have any questions concerning this new rule, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Thomas LaSala, Vice President, NYMEX Compliance Department, at
(212) 299-2897; or Arthur McCoy, Vice President, Financial Surveillance
Section, NYMEX Compliance Department, at (212) 299-2928,

NEW RULE 9.11A (&Give-Up Trades8)

(Entire rule is new.)

Rule 9.11A Give-Up Trades

In the absence of a give-up agreement whose terms and conditions govern the
responsibilities/obligations of executing brokers, customers and Clearing
Members, the following rules shall define the respective
responsibilities/obligations of those parties to an order.  The &executing
broker8, as used in this rule, is the registered billing entity, Member Firm
or Floor Broker to whom the order is transmitted.

(A)   Responsibilities/Obligations of Clearing Members

(1). Limits Placed by Clearing Member.   A Clearing Member may, in its
discretion, place trading limits on the trades it will accept for give-up for
a customer,s account from an executing broker, provided however, that the
executing broker receives prior written or electronic notice from the
Clearing Member of the trading limits on that account.  Notice must be
received by the executing broker in a timely manner.  A copy of such notice
shall be retained by the Clearing Member.

(2). Trade Rejection.  A Clearing Member may reject (&DK8) a trade only if:
(1) the trade exceeds the trading limits established under Section I(A) of
this rule for that customer and it has been communicated to the executing
broker as described in Subsection (A); or (2) the trade is an error for which
the executing broker is responsible.  If a Clearing Member has a basis for
rejecting a trade, and chooses to do so in accordance with the provisions of
Rule 2.21(B), it must notify the executing broker promptly.

(3). Billing.  A Clearing Member will pay all floor brokerage fees incurred
for all transactions executed by the executing broker for the customer and
subsequently accepted by the Clearing Member by means of the ATOM system.
Floor brokerage fees will be agreed upon in advance among the Clearing
Member, customer and the executing broker.

(B) Responsibilities/Obligations of Executing Brokers

(1) Customer Order Placement.  An executing broker will be responsible for
determining that all orders are placed or authorized by the customer.  Once
an order has been accepted, a broker or the broker,s clerk must:

(a) confirm the terms of the order with the customer;
(b) accurately execute the order according to its terms;
(c) confirm the execution of the order to the customer as soon as
practicable; and
(d) transmit such executed order to the Clearing Member as soon as
practicable in accordance with Exchange Rules and procedures.

2. Use of Other Persons.  Unless otherwise agreed in writing, the executing
broker is allowed to use the services of another broker in connection with
the broker,s obligations under these rules.  The executing broker remains
responsible to the customer and Clearing Member under these rules.

3.  Executing Broker Responsibility for Verifying Clearing Member
Authorization.  Prior to a broker accepting and executing an initial order
for any new customer account, the executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(f) the customer has a valid account with the Clearing Member;
(g) the account number;
(h) the brokerage rate;
(i) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(j) a listing or summary of persons authorized to place orders for that
account.
The executing broker must retain a copy of the authorization or the specifics
of the telephonic confirmation, which includes: opposite party, date, time,
and any other relevant information.  The falsification of such information
shall be the basis for disciplinary action.

4. Rejection of Customer Order.  Where an executing broker has confirmed
Clearing Member authorization to execute orders on behalf of a customer in
accordance with this Rule 9.11A, the broker may, in the broker,s discretion,
reject an order that the customer transmits to the broker for execution.  The
broker shall promptly notify the customer and the Clearing Member(s) of any
such rejection.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"
http://208.206.41.61/email/email_log.cfm?useremail=mark.taylor@enron.com&refdo
c=(01-154)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


simonize (SY-muh-nyz) verb tr.

   To shine or polish to a high sheen, especially with wax.

[After Simoniz, a trademark.]

   "As they polish the block and simonize the table, the block will go
   progressively farther ...."
   Leon Lederman, Blackboard bungle, The Sciences, Jan 2, 1995.

This week's theme: brand names that have entered the dictionary.

.............................................................................
Brain: an apparatus with which we think we think. -Ambrose Bierce (1842-1914)
[The Devil's Dictionary]

What to give to the person who has everything? Give the gift of words.
Here is a gift that keeps on giving. To enter a gift subscription of
A.Word.A.Day, please visit http://wordsmith.org/awad/gift.html
To subscribe yourself, use http://wordsmith.org/awad/subscribe.html

Pronunciation:
http://wordsmith.org/words/simonize.wav
http://wordsmith.org/words/simonize.ram


As a result of feedback from employee surveys, and a desire to create
informal opportunities for Q&A and discussions around our business, every 4-6
weeks EWS Executives will be hosting a floor talk and Q&A session.

Please join
Mark Frevert
Chairman & CEO Enron Wholesale Services
on
Friday, 8th December
10-10,30am
on the 38th floor - EB3821

Format: 1. "This Was The Month That Was"
 2. The Month ahead
 3. Q&A  - Please think of any questions you would like to ask Mark during
the Q&A session.
  If you would prefer to pre-submit your question, please send to Nicki Daw
via email.


---------------------- Forwarded by Rosalee Fleming/Corp/Enron on 12/13/2000
05:59 PM ---------------------------

Kathy Mayfield
12/13/2000 05:02 PM

To: Rosalee Fleming/Corp/Enron@ENRON
cc:
Subject: Thank you for the Charitygift

---------------------- Forwarded by Kathy Mayfield/Corp/Enron on 12/13/2000
04:38 PM ---------------------------

bill_morgan@kindermorgan.com on 12/13/2000 04:34:58 PM
To: kathy.mayfield@enron.com
cc:

Subject: Thank you for the Charitygift

Thank you for the Charity Gift Card.  I decided to donate the gift to the
Depelchin Children's Center.


Richard,

After going throught the numbers on this peaker. I can only pay 4-5 cents for
a 10 day peaker at Chicago. That would be a net payment to you of
$604,000.

You are giving me 6.6% of the underlying days and I will pay 10% of the
underlying price to get the optionality.  As a relative value NYZ6 or Socal
is worth much more.  Alliance seems to have taken all of the strong interest
out of this market. Hunter won't pay any additional premium as Chicago is too
liquid physically to justify a premium for the molecules.

Call me to go over the numbers if you want

Pete


Is this case consolidated as well as the others? Rick

-----Original Message-----
From: Richardson, Terri [mailto:richardson@copn.com]
Sent: Wednesday, December 12, 2001 6:12 PM
To: Baxter, Cliff; Buy, Rick; Causey, Richard; Frevert, Mark; Hirko, Joe; Horton, Stanley; Kean, Steven J.; Koenig, Mark; McConnell, Mike; McMahon, Jeffrey; Metts, Mark; Olson, Cindy; Pai, Lou; Rice, Ken; Sutton, Joe; Williams, Robert C.
Cc: Williams, Robert C.
Subject: Amended Complaint in Amalgamated Bank v. Lay, et al.

Good evening, everyone.  Mike Peterson, who many of you have met and who is working with J.C. on your case, asked me to send the following e-mail to you:

The lawyers for Amalgamated Bank filed an amended class action complaint yesterday. Based on our initial comparison of the amended complaint versus the original one (our comparison was "line by line" but not "word for word"), it appears that the only change was to add four specific requests for relief at the very end of the complaint - namely, "to order an accounting of insider-trading proceeds," "disgorgement of insider-trading proceeds," "restitution of investors' monies of which they were defrauded," and "as to the section 11 claims, awarding rescission or a rescissionary measure of damages." These additions are technical in nature and probably were designed principally to preempt any copycat suits by other plaintiffs' attorneys. The amended complaint does not appear to contain any revision of the factual allegations or asserted causes of action. If you nonetheless would like your own copy of the amended complaint (all 78 pages), just let me know and I will send it to you.

This e-mail and any attached files may be confidential and subject to attorney/client privilege. If you received it in error, please immediately notify the sender by return e-mail or by calling (713)654-7600.


Vijay:

I've been trying to call you for about an hour, but the circuits are all busy.  Sometimes it's easier for NY to call out than for us to call NY.  I'll be in my office for about an hour before meetings.  Also, I am free in the morning.  We'll need to recall exactly where we were at the beginning of August.  Thanks.  Sara

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


>  > I Picked you!
>  >
>  >
>  >
>  > My instructions were to send this to four people that I wanted God to
>  bless,
>  > and I picked you. Please pass this to four people you want to be
blessed
>  as
>  > well as the person who sent it to you. This prayer is powerful and
there
>  is
>  > nothing attached, please do not break this pattern; prayer is one of
the
>  > best gifts we receive. There is no cost but a lot of rewards, let's
>  continue
>  > to pray for one another. God bless you, and have a nice day!
>  >
>  >
>  >
>  > "Father, I ask you to bless my friends, relatives, and email buddies
>  reading
>  > this right now. Show them a new revelation of your love and power. Holy
>  > Spirit, I ask you to minister to their spirit at this very moment.
Where
>  > there is pain, give them your peace and mercy. Where there is self
doubt,
>  > release a renewed confidence through your grace, In Jesus precious
Name.
>  > "Amen"
>  >
>  >
>  >
>  > "I know God would never give me something that I could not handle. I
just
>  > wish he didn't trust me so much."
>  >
>  > Mother Theresa
>  >
>  > "Do unto others as you would have them do unto you."
>  > "Many people will walk in and out of your life, but only true friends
will
>  > leave footprints in your heart."   ~ Eleanor Roosevelt ~
>  >
>  >
>  >
>
>

_______________________________________________________
Say Bye to Slow Internet!
http://www.home.com/xinbox/signup.html


Tanya,
       Sounds great.  If the objective is to model d(lnS), and we see that
vols are not constant, then one has to model vols stochastically.  If one
assumes say a log-AR(1) or other models, even for a single contract, we still
have to estimate 3 parameters.  Not a trivial task if the vols are
correlated, such as in a portfolio.  I have some older literature by
Papiancolou, Sircar and Harvey et al which tries to address and implement
some of thes issues.  I will try to dig these up.
      Let me know if I can be of any help.
Regards
Naveen

Tanya Tamarchenko@ECT
11/13/2000 08:38 AM
To: Naveen Andrews/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT

Subject: Re: looking for "Fat Tails" in time-series for NGI-SOCAL

Naveen,
I am trying to answer the question: what is the appropriate stochastic
process to model the behavior
of commodities' prices in our VAR model. So what  I do care about is the
behavior of log-returns.
Any help is appreciated.

Tanya.

Naveen Andrews@ENRON
11/10/2000 04:35 PM
To: Tanya Tamarchenko/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT
Subject: Re: looking for "Fat Tails" in time-series for NGI-SOCAL

Tanya,
               We care about PORTFOLIO VALUE CHANGES, not log-returns of a
single contract, which has extremes in the behavior and can be fit to a
fat-tailed distribution.   A 1.20 basis move, with 500 BCF position, is an
extreme event, anyway you slice it.In the literature, as elsewhere, I agree
for a single contract log-returns, they don't divide by vols.

Regards
Naveen

Tanya Tamarchenko@ECT
11/10/2000 04:17 PM
To: Naveen Andrews/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT

Subject: Re: looking for "Fat Tails" in time-series for NGI-SOCAL

Naveen,

I got NGI-SOCAL prices for prompt, prompt+1,...,prompt+59 contracts.
For each contract I calculated moving average based on 21 log-returns as
well as moving volatility. Then I calculated normalized log-returns:

[ return(t)-ave(t) ] / vol(t)

and compared the results to normal distribution.

I COULD NOT FIND Fat Tails!

Volatility changes a lot from day to day, so when people look at
log-returns (not normalized) it seems that there fat tails (big spikes, large
returns more frequent than normal),
which comes from the fact that volatility is not constant (at all).

See the spreadsheet is under O:\_Dropbox\Tanya

Tanya


Please See Attachment:


sure that would be great

 -----Original Message-----
From: 	Quigley, Kay
Sent:	Wednesday, November 07, 2001 2:53 PM
To:	Quigley, Dutch
Subject:	reservations

hey there- see the link below to Delmonico's - the place at the Venetian that I tried to get us in last year in Vegas
Do you want to call and see if we can get in for dinner one nite?

http://www.emerils.com/restaurants/delmonicolv/


-Kevin Kindall


Ken,

Soon you will receive (or perhaps have just received) a letter from a fellow
MU alumnus, Roger Vasey.  In the letter, Roger outlines a business
opportunity that he believes has a potential synergy with Enron.

While I am not familiar with this business opportunity, I am very familiar
with Roger.  He is now semi-retired following a very successful business
career.  He remains a special advisor to the chairman of Merrill Lynch &
Co., Inc., in New York.  Previously, he was executive VP and global director
of all debt markets underwriting, sales, and trading for the firm.

Since the early 1990s, Roger has been actively involved with MU,
specifically with the College of Business.  He has served as chair of both
the Strategic Development Board and the Davenport Society.  Roger also was a
member of the steering committee for the college's very successful capital
campaign.  I hold him in the highest regard and feel fortunate that he, like
you, has chosen to contribute to his undergraduate alma mater in various
significant ways.

I hope you will consider the opportunity described in Roger's letter.  I
know he must think it has a great deal of potential if he decided to present
it to you.

Finally, thanks very much for your holiday card and the donation
opportunity, which benefitted Boys & Girls Club of Columbia in my case.
Season's greetings,

Bruce Walker


Book request #873 is complete.  Please contact Risk Controls if you have any questions.

Thank you,
Susan Trevino


Jeff and all:  I agree with your thoughts as to the need for amendments re
DA customers that have never purchased DWR power, call it amend. 1.  I also
agree with your proposal re customers that leave bundled service for direct
access service only having to pay for the costs actually incurred by DWR on
their behalf, call it amend. 2.  I think it is a stretch, however, to
propose an exemption for any customer that leaves bundled for DA by
September 1, call it amend. 3.  This appears to be inconsistent with amend.
2.  I agree with you re amend. 4, deletion of language ending DA.  Bill

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Thursday, July 05, 2001 2:07 PM
To: Ann.Cohn@sce.com; kmccrea@sablaw.com; mkahl@ka-pow.com;
jdasovic@enron.com; wbooth@booth-law.com; drothrock@camfg.com;
smutny@iepa.com; brbarkovich@earthlink.net;
dominic.dimare@calchamber.com; isenberg@hmot.com; jstewart@cmta.net;
mdjoseph@adamsbroadwell.com; lga@mother.com; debinorton@aol.com;
cra@calretailers.com; derek.naten@roche.com; vjw@cleanpower.org; John R.
Redding (PS, NE) (E-mail); Mike Florio (E-mail)
Subject: Bond Leg Language, etc.

Greetings:

Hope everyone had a pleasant 4th.

I've read the respective Burton and Hertzberg language on amending AB 1X.
The Burton language looks cleaner and simpler, though there may be reasons
to include some of the Hertzberg language, too.

I'm proposing to the group the following as potential amendments to the
bond bill.  I would appreciate your feedback.  The amendments would be as
follows:

Customers who were on Direct Access when DWR started buying power (Jan.
17th?), and are still on Direct Access when the bill passes, should be
exempt from paying for the bonds.

In short, customers should not be forced to pay for power twice--once from
their ESP, and once from DWR.  Since these customers receive power services
from their ESP, they never consumed DWR power in the first place and it
wouldn't be fair to require them to pay for it.

Customers who have been utility customers since DWR started buying power
but subsequently switched to Direct Access should only pay for power
provided by DWR that they actually consumed, no more and no less.

For example, if a customer was a utility customer when DWR started buying
power but switched to Direct Access on May 1st, then the customer would
only be responsible for reimbursing DWR for power deliveries that took
place from Jan. 17th thru April 30th.

I believe that we agreed on these concepts during the negotiations that
took place over the past 4-5 weeks.  Or if we didn't explicitly agree
during the talks, they seem to be principles on which we ought to be able
to agree pretty easily now. And rather than leave the issue hanging, which
can create unnecessary and costly uncertainty for customers, I suggest that
we include very clear and simple legislative language in the bond bill
clarifying what customers' obligations are.  Your thoughts are appreciated.

In addition, we have talked quite a bit about providing customers with
incentives in the attempt to get California out of the energy hole that it
finds itself in.  Providing (20KW and above) customers with an incentive to
switch to Direct Access as soon as possible could 1) reduce the net short
position that the state (and ultimately consumers) have to finance, thereby
reducing spot purchases and price volatility,  2) reduce electricity
purchasing costs, and 3) reduce the burden on the state budget.

With this in mind, I'm also proposing that the group consider an amendment
to the bond bill that would exempt from bond charges any customer that
switches to Direct Access by September 1st.

Finally, it seems odd that the language directing the PUC to suspend Direct
Access is still in the bill.  If a dedicated rate component is created,
that seems to eliminate altogether the need to suspend Direct Access.  And
if that's the case, would it make sense to delete that language from the
bill?

Look forward to your comments and working with you to get support for and
passage of the "core/noncore" proposal.

Best,
Jeff
This e-mail is intended solely for use of the individual to whom it is
addressed and may contain information that is privileged, confidential or
otherwise exempt from disclosure under applicable law.  If the reader of
this e-mail is not the intended recipient or the employee or agent
responsible for delivering this message to the intended recipient, you are
hereby notified that any dissemination, distribution, or copying of this
communication is strictly prohibited.  If you have received this
communication in error, please immediately notify us by replying to the
original sender of this note.  Thank You.


You have received this email because you are listed as an alternate data
approver. Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000005820&Page=
Approval to review and act upon this request.

Request ID          : 000000000005820
Approver            : stinson.gibner@enron.com
Request Create Date : 10/26/00 2:27:45 PM
Requested For       : mark.breese@enron.com
Resource Name       : \\enehou\houston\common\Research - [Read/Write]
Resource Type       : Directory


I have a standing staff meeting that I attend on Monday mornings, so I will
not be available when you and James meet on the 8th.  I will look forward to
getting with James after your meeting for an update.

Mike Campbell <MCampbell@HDINC.COM> on 01/03/2001 02:50:49 PM
To: "'sally.beck@enron.com'" <sally.beck@enron.com>
cc:
Subject: Status Report

Sally,
Just wanted to give you a quick status report on where we are to date. We
have had two meetings postponed with James, but we are scheduled to meet
again on Monday, January 8th at 9 AM. We will review and revise the written
description our approach and James wants to share that with you after the
meeting. If you are available on Monday, your input would expedite the
review and revision process tremendously.
Thanks,

Mike Campbell
Holland & Davis, Inc
mcampbell@hdinc.com
713-877-8130


I'm waiting to hear from Ben on the buy back, and I need to incorporate some
changes which were given to me by others.

I noticed the paragraph headings duplicated themselves on this last draft.
Odd.

More to come!

Kay

To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: ABB - Rev 7

Kay:

Here is a comparision to show the changes you requested:


STEVE KEAN

Executive Committee Weekly Meeting
Date:  Monday, April 23rd
Time:  11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video:  Connections will be established with remote locations upon request.
Conf call: AT&T lines have been reserved.  Please contact Sherri Sera
(713/853-5984)
  or Bill Dorsey (713/646-6505) for the weekly dial-in number and passcode.

Please indicate below whether or not you plan to attend this meeting and
through what medium.

 Yes, I will attend in person ____X___

 By video conference from _______

 By conference call  _______

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Friday,
April 20th

Thank you,
Bill Dorsey.


Vince,
It was a pleasure talking with you earlier today. Please read the documents I
have attached with this email. Let's talk in the near future to continue our
conversation. I am very confident that my team and I can be successful
regarding any staffing need you have.? I will give Sheila in HR a call and
see if we can work out a contract. Please visit our web site for up-to-date
information at http://www.mrportland.com
Thank you for your time and have a nice day.

Sincerely,

Johan Dahl
Director Energy Staffing Group
Phone: 1-503-287-8701 ext. 1153
Email: jdahl@mrportland.com

 - JCD-Client Broch-Energy #2.doc
 - Charter of Ethical Practice.doc


Let me know if you would have any interest in talking with this candidate.
Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 12/08/2000 04:47
PM ---------------------------

Daniel R Rogers@ENRON_DEVELOPMENT
12/08/2000 04:43 PM
To: Alan Aronowitz@ECT
cc: Michelle Cash@ECT
Subject: Resume of Charles Glizzard

Alan,

Attached is the resume of Charles Glizzard, a candidate that would like to be
considered for a Global Markets legal position.  We should probably consider
him for the role of Marine Transportation specialist, but it appears his
skill set also shows an ability to do quite a bit more for us.

Kind regards,
Dan


The Educational Assistance Forms for  the GMAT Preparation class are
available outside EB1197 and attached below.  After you have completed the
form, return it to Brad Stewart, EB1181A, for approval and processing.
Reimbursement will be made after you have completed the course and provide
Brad Stewart with a certificate and your receipt.

For all other questions regarding the GMAT (i.e., test results, space
availability, logistics, etc.) please contact Patricia Slaughter at x36908.

For your convenience, we now have a Form Center located adjacent to EB1197.


January 23, 2002
Dow Jones Newswires
Calif Attorney Genl Says Likely To File More Energy Suits
Dow Jones Newswires

SAN FRANCISCO (AP)--California Attorney General Bill Lockyer said Wednesday
he is likely to file more unfair business practice lawsuits against energy
suppliers he thinks overcharged for electricity.

But Lockyer, in a telephone interview, said after a yearlong investigation
he has found no criminal wrongdoing by any energy suppliers. He said he has
discovered possible civil violations of California consumer laws prohibiting
overcharging - violations that carry no jail or prison time.

Lockyer's disclosure came a week after the state's top law enforcement
official sued Pacific Gas and Electric Corp., the parent to Pacific Gas and
Electric Co., for allegedly siphoning billions from its underling and
forcing it to seek federal bankruptcy protection.

The PG&E suit is "the first of many I would expect in the energy area to
overcome overcharges," Lockyer told The Associated Press.

"We've devoted a huge amount of investigative and lawyering time to get back
the money...generators extracted from Californians," he added.

Lockyer declined to name other companies that he would sue, but his office
has subpoenaed records from Dynegy, Enron Corp., Mirant Corp. and Reliant
Energy - all of which have denied wrongdoing. In the interview, the attorney
general did mention Enron by name, saying "we're still looking at the energy
overcharges," and he accused Enron of withholding documents.

Enron, a major energy trading concern, has filed for bankruptcy protection
following the disclosure that it misstated its earnings by hundreds of
millions of dollars.

PG&E, the only supplier Lockyer has sued, blamed its woes on a 1996
California law that left it unable to collect the full price of electricity
from its customers.

Lockyer's disclosure that he hasn't discovered criminal conduct, including
no evidence of a conspiracy to fix prices, comes nearly a year after he said
he wanted to jail Kenneth Lay, Enron's chairman. Lockyer told the Wall
Street Journal in May that, "I would love to personally escort Lay to an 8
by 10 cell that he could share with a tattooed dude who says, 'Hi my name is
Spike, honey."'

On Wednesday, Lockyer declared the statement "rhetorical excess," adding,
"So far...we haven't found criminal behavior associated with pricing
policies."

Still, the city of San Francisco has accused 13 energy suppliers of
manipulating prices in a suit that is pending in San Diego County Superior
Court.

That suit alleges the suppliers manipulated supplies to keep prices high.
San Francisco Deputy City Attorney Mark Slavin said the city doesn't have
proof of those allegations, but would uncover them as the lawsuit proceeds
in a process known as discovery.

"We think that the discovery process will uncover anticompetitive behavior,"
Slavin said.

The energy suppliers have denied the allegations.

A California legislative committee also investigating a spike in wholesale
energy costs has served additional subpoenas on Enron officials.

The Senate Select Committee to Investigate Price Manipulation in the
Wholesale Energy Market summoned Enron officials to appear for depositions
regarding destruction of documents. Sen. Joe Dunn, D-Santa Ana, and the
committee's chairman, said he's concerned that documents destroyed by
Enron's auditor, Arthur Andersen LLP, were covered by a legislative subpoena
issued in June.

Dunn's committee on Wednesday also agreed to subpoena Andersen regarding the
Enron records.

----------------------------------------------------------------------------
----
URL for this Article:
http://interactive.wsj.com/archive/retrieve.cgi?id=DI-CO-20020123-011366.djm

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

Copyright ? 2002 Dow Jones & Company, Inc. All Rights Reserved.


Dan

For your review, please find attached Yates' latest contract revisions.  I've
taken the liberty of redlining the sections for our discussion and your
further editing.

Please call at your convenience.

Thanks.

Dan


Everyone,

Sometime after the close of business on  Wednesday, January 10th, Sitara
Reporting will be migrated to a new version of Oracle reports. Oracle 6.0
provides some needed benefits, such as, the ability to process reports on
multiple servers which should help performance during peak times. Also,
Oracle 6.0 provides the ability to create comma delimited files which can
then be imported into Excel.

This migration, for the most part, will be transparent. If you use the Sitara
launch pad, you will be directed to the new report server. For those of you
who use Internet Explorer favorites to access Sitara Reporting, please update
your favorite to point to the new Report server
athttp://sitrpt.corp.enron.com.  All the same reports will be available.
However, some of the reports will function a little differently. These
changes were requested several months ago but were not moved to production
until now.

If you know of anyone using Sitara Reporting but are not in the above list of
people, please forward this e-mail to them.

Thank You,

Terry Sanvido

Sitara Reporting Manager
x34754


?
[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]
[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]
[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]	[IMAGE]
[IMAGE]
																			[IMAGE]

														Enerfax Daily

												[IMAGE]
																						[IMAGE]
																		[IMAGE]
																									[IMAGE]

																									[IMAGE]

																													[IMAGE]

																						Looking  for a past article or issue. Click here to use Sagewave's  Search.

																					Enerfax  Daily? -? Page  ? -? November 10,  2000

																												[IMAGE]

																										[IMAGE]

																											Enerfax  Daily? -?  Page 4? -?  November 10, 2000 -? ?  Past  Issues
Available on Sagewave

																													[IMAGE]
																								[IMAGE]

																																	[IMAGE]
																											[IMAGE]
																														[IMAGE]
																															[IMAGE]

																																Enerfax  Daily? -?  Page 7? -?  November 10, 2000

																														[IMAGE]

																															Enerfax  Daily? -?  Page 8? -?  November 10, 2000

																													[IMAGE]

																							Mexico November Natural Gas Price Down

																							? ?  The price of natural gas established for November in Mexico is down  16%
from October, having been set at $4.31 per MMBtu as against  October's price
of $5.11 per MMBtu, according to the CRE. The  decrease is the largest
monthly fall in the price of natural gas so  far this year and leaves the
price at a level comparable to that of  six months ago, the CRE said.

																													[IMAGE]

																										Financial Summary

																																[IMAGE]

																				")} TC
																[IMAGE]

 - blnk.gif
 - img17.gif
 - img18.gif
 - img19.gif
 - img20.gif
 - img21.gif
 - img22.gif
 - img23.gif
 - img24.gif
 - img25.gif
 - img26.gif
 - img27.gif
 - img28.gif
 - img29.gif
 - img30.gif
 - img31.gif
 - img32.gif
 - img33.gif
 - img11.gif
 - img34.gif
 - id=1381847
 - img35.gif


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/16/2001
05:37 PM ---------------------------

Pilar Ramirez@ENRON
02/16/2001 02:46 PM
To: Stanley Horton/Corp/Enron@Enron, Danny McCarty/ET&S/Enron@Enron, Julia
White/ET&S/Enron@ENRON, Lisa Sawyer/ET&S/Enron, Youyi Feng/NA/Enron@Enron,
Steven Harris/ET&S/Enron@ENRON, Mark Ferguson/ET&S/Enron, Kent
Miller/ET&S/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Dave
Neubauer/ET&S/Enron@ENRON, Don Powell/ET&S/Enron@ENRON
cc: Lee Ferrell/ET&S/Enron@Enron, Kimberly Watson/ET&S/Enron@ENRON, Sean
Bolks/ET&S/Enron@ENRON, Jim Wiltfong/ET&S/Enron@ENRON, Vernon
Mercaldo/ET&S/Enron@ENRON, Martha Janousek/ET&S/Enron@ENRON, Robert
Mason/ET&S/Enron@Enron, Cindy Stark/Corp/Enron@ENRON, Deb
Cappiello/ET&S/Enron@ENRON, Audrey Robertson/ET&S/Enron@ENRON, Kathy
Campos/GPGFIN/Enron@ENRON, Rita Houser/GPGFIN/Enron, Julie
Armstrong/Corp/Enron@ENRON, Ricki Winters/ET&S/Enron@Enron
Subject: Revenue Management Mtg.

Please make arrangements to attend a Revenue Management Update meeting
scheduled for Monday, March 5, in EB 49C2, from 3:00 - 5:00 p.m.


The Big Game Trivia Challenge presented by Smirnoff Ice <http://promotions.go.com/espn/smirnoffice/img/smirnoffice_email_header4.gif>
  <http://promotions.go.com/img/spacer.gif>	  <http://promotions.go.com/img/spacer.gif>
Test your knowledge of the big moments in football's biggest game. Take the Big Game Trivia Challenge <http://ts.go.com/bk?bs=1&bj=3087&bu=11231579&bt=9035> for the chance to enter the Smirnoff Ice Big Game in the Big Easy Sweepstakes.
  <http://promotions.go.com/img/spacer.gif>
We're sending away one lucky winner and a guest for a weekend extravaganza that includes round-trip airfare plus four days' accommodations for two in New Orleans, $1,000 spending money and VIP tickets to the SMIRNOFF ICE? and ESPN The Magazine's Players Gala where Players, Celebrities and National Recording Artists will all come together to celebrate the Big Game in the Big Easy in style.
	  <http://promotions.go.com/espn/smirnoffice/img/smirnoffice_email_rh6.gif>
  <http://promotions.go.com/img/spacer.gif>	  <http://promotions.go.com/img/spacer.gif>
 <http://ts.go.com/bk?bs=1&bj=3087&bu=11231579&bt=9035>
  <http://promotions.go.com/img/spacer.gif>
This message was sent to: mswerzb@ect.enron.com
This message was sent to you as an opt-in subscriber to ESPN.com. If you do not wish to receive special offers from our sponsors in the future, please click here <http://ts.go.com/bk?bs=1&bj=3087&bu=11231579&bt=9036>.

  <http://ts.go.com/bk?bs=2&bj=3087&bu=11231579>


Jim,
David and I wanted to let you know that Phillip has broken his arm over the
weekend and he will be out of sports for a while.  He has an appt with an
orthopedic surgeon on Friday and we should know more after that with regards
to
exactly how long he has to be in a cast.  Needless to say, Phillip is very
disappointed.  We will keep you posted.

Thanks,
David and Carolyn Warnick


Opps!
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/30/2000 09:12
AM ---------------------------

Victor Lamadrid
03/29/2000 05:19 PM
To: Chris Germany/HOU/ECT@ECT, Scott Goodell/Corp/Enron@ENRON, Colleen
Sullivan/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT,
Katherine L Kelly/HOU/ECT@ECT, Robert Allwein/HOU/ECT@ECT, Joann
Collins/Corp/Enron@ENRON, Steve Gillespie/Corp/Enron@ENRON
cc: David Oliver/HOU/ECT@ECT
Subject: UPDATE-DONE!!!! Re: CES TERM DEALS FOR TCO - Not in Sitara for April
2000

THIS IS NOW FIXED THANKS!
---------------------- Forwarded by Victor Lamadrid/HOU/ECT on 03/29/2000
05:15 PM ---------------------------
From: David Oliver on 03/29/2000 05:07 PM
To: Victor Lamadrid/HOU/ECT@ECT
cc:
Subject: Re: CES TERM DEALS FOR TCO - Not in Sitara for April 2000

I extended the deals and put them on to market East

The new deals are:

231667
231672
231679

Dave

Victor Lamadrid
03/29/2000 04:48 PM
To: David Oliver/HOU/ECT@ECT
cc:
Subject: CES TERM DEALS FOR TCO - Not in Sitara for April 2000

Hey Dave, Please take a peek at these term deals not in Sitara and make any
necessary updates. THANKS
---------------------- Forwarded by Victor Lamadrid/HOU/ECT on 03/29/2000
04:45 PM ---------------------------

Joan Veselack@ENRON
03/29/2000 04:36 PM
To: Chris Germany/HOU/ECT@ECT, Scott Goodell/Corp/Enron@ENRON, Colleen
Sullivan/HOU/ECT@ECT
cc: Dick Jenkins/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Katherine L
Kelly/HOU/ECT@ECT, Robert Allwein/HOU/ECT@ECT, Joann
Collins/Corp/Enron@ENRON, Steve Gillespie/Corp/Enron@ENRON
Subject: CES TERM DEALS FOR TCO - Not in Sitara for April 2000

The following CES deals should roll into April 2000:

Allied Signal  ipp   Sell for 3405/day gms # s-alliedsignal-0034  ends
11/1/2001  sitara # 145328
PennFuel citygate  Sell for 5000/day gms # s-pennfuel-0001  ends 11/1/2000
sitara # 151759
PennFuel citygate  Sell for 2610/day gms# s-pennfuel-0002  ends 11/1/2000
Boonville citygate  Sell for 130/day  gms# s-boonville-0012  ends 7/1/2000
sitara # 166857

Chris and Scott, please check the term and pricing, and correct the deal
tickets. I did verify these tickets are not on the new Marketeast Desk.

Thank you!!!!!!!!!!!!!!!!!!!!!!!!