Hi, Marie, hope all is well.  In order to complete our conflicts checks on
two counterparties, we need answers to the following questions:  (1)
Exactly which Navajo and Louis Dreyfus entities/subsidiaries will be
involved in the Master Netting Agreements?  (2) Is the Louis Dreyfus on
your list the same as the Dreyfus Corporation?  (3) What is the main
business address for Navajo?  Thanks and please call with any questions.

Best Regards,
Athena

                    "Heard,
                    Marie"               To:     "Aronowitz, Alan"
                    <Marie.Heard@        <Alan.Aronowitz@ENRON.com>,
                    ENRON.com>           "Athena Alexander (E-mail)"
                    Office:              <athena.alexander@cwt.com>,
                                         "Clark, Morris"
                    11/19/01             <Morris.Richard.Clark@ENRON.com>
                    06:18 PM             , "Cook, Mary"
                                         <Mary.Cook@ENRON.com>, "David
                                         Mitchell (E-mail)"
                                         <david.mitchell@cwt.com>,
                                         "Davis, Angela"
                                         <Angela.Davis@ENRON.com>, "Del
                                         vecchio, Peter"
                                         <Peter.Del.Vecchio@ENRON.com>,
                                         "Diane Dickensheid (E-mail)"
                                         <diane.dickensheid@cwt.com>,
                                         "Dobin, Nora"
                                         <Nora.Dobin@ENRON.com>,
                                         "Douglas, Stephen H."
                                         <Stephen.H.Douglas@ENRON.com>,
                                         "Evans, Mark (London Legal)"
                                         <mark.evans@enron.com>,
                                         "Gaffney, Chris"
                                         <Chris.Gaffney@ENRON.com>,
                                         "Gray, Barbara N."
                                         <Barbara.N.Gray@ENRON.com>,
                                         "Hansen, Leslie"
                                         <Leslie.Hansen@ENRON.com>,
                                         "Heard, Marie"
                                         <Marie.Heard@ENRON.com>,
                                         "Hendry, Brent"
                                         <Brent.Hendry@ENRON.com>,
                                         "Hodge, Jeffrey T."
                                         <Jeffrey.T.Hodge@ENRON.com>,
                                         "Johnston, Greg"
                                         <Greg.Johnston@ENRON.com>,
                                         "Jones, Tana"
                                         <Tana.Jones@ENRON.com>,
                                         "Keohane, Peter"
                                         <Peter.Keohane@ENRON.com>,
                                         "Koehler, Anne C."
                                         <Anne.C.Koehler@ENRON.com>,
                                         "Lech Kalembka (E-mail)"
                                         <lech.kalembka@cwt.com>, "Leite,
                                         Francisco Pinto"
                                         <Francisco.Pinto.Leite@ENRON.com
                                         >, "Marissa Morelle (E-mail)"
                                         <marissa.morelle@cwt.com>,
                                         "McCullough, Travis"
                                         <Travis.McCullough@ENRON.com>,
                                         "Mellencamp, Lisa"
                                         <Lisa.Mellencamp@ENRON.com>,
                                         "Murphy, Harlan"
                                         <Harlan.Murphy@ENRON.com>,
                                         "Murray, Julia"
                                         <Julia.Murray@ENRON.com>,
                                         "Nemec, Gerald"
                                         <Gerald.Nemec@ENRON.com>,
                                         "Portz, David"
                                         <David.Portz@ENRON.com>, "Rick
                                         Antonoff (E-mail)"
                                         <rick.antonoff@cwt.com>,
                                         "Rohauer, Tanya"
                                         <Tanya.Rohauer@ENRON.com>,
                                         "Sager, Elizabeth"
                                         <Elizabeth.Sager@ENRON.com>,
                                         "Saxena, Rahul"
                                         <rahul.saxena@enron.com>,
                                         "Sayre, Frank"
                                         <Frank.Sayre@ENRON.com>, "Schuh,
                                         Michael"
                                         <michael.schuh@enron.com>,
                                         "Shackleton, Sara"
                                         <Sara.Shackleton@ENRON.com>,
                                         "Simons, Paul"
                                         <paul.simons@enron.com>, "St.
                                         Clair, Carol"
                                         <Carol.St.Clair@ENRON.com>, "Van
                                         Hooser, Steve"
                                         <Steve.Van.Hooser@ENRON.com>,
                                         "Viverito, John"
                                         <John.Viverito@ENRON.com>, "Von
                                         Bock Und Polach, Marcus"
                                         <marcus.von.bock.und.polach@enro
                                         n.com>, "Williams, Jason R
                                         (Credit)"
                                         <Jason.R.Williams@ENRON.com>
                                         cc:
                                         Subject:     Master Netting
                                         Agreement Assignments

Attached is the updated list of master netting agreement assignments.

           <<master netting agreement assignments.doc>>

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply to Enron Corp. at enron.messaging.administration@enron.com and delete
all copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************
(See attached file: master netting agreement assignments.doc)

==============================================================================
NOTE:  The information in this email is confidential and may be legally privileged.  If you are not the intended recipient, you must not read, use or disseminate the information.  Although this email and any attachments are believed to be free of any virus or other defect
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==============================================================================

 - master netting agreement assignments.doc


CANADIAN ENERGY TOWN HALL MEETING

Sponsored by:
Province of Alberta, Canada
Province of British Columbia, Canada
University of Houston Energy Institute

Topic:
"Security of Supply North American Energy Markets"
Wednesday, November 28, 2001
Fairmont Hotel Oak Room
Corner of Ross & Akard Dallas, Texas
Time: 2:30-4:00pm

You and your colleagues are invited to attend this unique discussion
about the increasing importance of Canada's energy-rich provinces to
North American energy supply and security.  Featured speakers include
Alberta Energy Minister Murray Smith, British Columbia Minister of
Energy & Mines Richard Neufeld, and several senior executives of U.S.
and Canadian energy firms with substantial stakes in Canada's top energy
plays, including the MacKenzie Delta, Western Canadian Sedimentary Basin
and Atlantic Canada offshore.  Dr. Michelle Michot Foss, Director of the
Energy Institute of the University of Houston, will facilitate
discussion in a highly interactive town hall format designed to
encourage audience participation.

The Energy Town Hall session is one of several energy-related activities
now planned as a part of Canadian Prime Minister Jean Chretien's
upcoming Trade Team Canada West Mission to Dallas on Wednesday, November
28th.
In addition to the Prime Minister, the Premiers of Canada's energy-rich
western provinces, including the Honorable Ralph Klein, Premier of
Alberta, and the Honorable Gordon Campbell, Premier of British Colombia,
will attend.  Trade Team Canada events on Nov.28 include the Team Canada
Luncheon, featuring the Prime Minister as keynote speaker and Texas
Governor Perry as special guest, and an evening Team Canada Business
Reception.

To register for the Energy Town Hall in Dallas on Wednesday, Nov.28,
please simply reply to this e-mail with your contact information.
Registration materials will be sent to you.  For questions about the Town
Hall or the Team Canada program, please do not hesitate to call  Scott
Flukinger at the Canadian Consulate General in Dallas at tel.
214-922-9812, ext. 3355, or Reah Reedy at ext. 3356.


I am disappointed that Joe Grundfest will not be able to join us at our next
Advisory Council meeting.  However Tom Campbell sounds like an excellent
alternative.  Would you please contact him and see if he might be willing to
join us for the next meeting and talk about the subjects you suggested.
Incidentally, we're happy to pay an honorarium to any of our guest speakers.

I think I should pass at this time on inviting Spence Abraham to join us for
dinner.  First, I believe it would be virtually impossible for him to do that
at this point in time.  But second, many people are already blaming me for
being the real energy policy maker in the new Administration and I would just
as soon not feed that speculation.

Look forward to seeing you.

Warm regards,

Ken

Stelzer@aol.com on 03/12/2001 09:47:35 AM
To: skean@enron.com
cc: klay@enron.com
Subject: Grundfest

Joe and I hve had several conversations trying to work out his schedule, but
his classes plus moving his parents from NYC to California at that time make
it impossible for him to come, although he would very, very much like to do
so.
I would suggest that we invite Tom Campbell, the Republican congressman who
just lost his shot at the senate against one of the two women (I forget which
one, left or lefter) and who is again teaching at Stanford Law School. He is
brilliant, and we could give him the topic of "Enron and Market-Regulatory
Failure: What Are The Constraints on Its Behavior? Where Do the Risks Lie in
the Future?" Or some such thing.
I will read When Genius Fails in the next few hours and decide about its
author.
What would you think of having Spence Abraham to dinner, and moving Bill
Kristol to the morning if Spence can come?


how is the morgage company going to know you took out additional funds?
second , is the fed-ex guy going to leave the envelope with the
office?.......if it's fed ex it's already been delivered.....


CALENDAR ENTRY:	APPOINTMENT

Description:
	 Staff Mtg. Conference room EB4102

Date:		7/16/2001
Time:		10:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Please note that Chris Calger is in a meeting with a customer in Mt. Hood, so...

the Open Enrollment for Benefits Brown Bag meeting has been moved to Mt. St. Helens

(located in the NE corner of the office, behind the Volume Management group).


I think this may be yours.  If not, please let me know.
---------------------- Forwarded by Debra Perlingiere/HOU/ECT on 04/12/2000
02:30 PM ---------------------------

From:  Stacey Richardson
       04/12/2000 02:07 PM

To: Debra Perlingiere/HOU/ECT@ECT
cc: Cyndie Balfour-Flanagan/Corp/Enron@ENRON, Tricia Truong/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT
Subject: Hall Energy Company/Willis Enterprises Corp.

Debra,

Per the info below, can you please review the information and see if you can
find any information as to why we can't use the Committed Reserves contract
mentioned.  I'd also like to terminate the two GTC contracts listed as
well.   Client Services needs to clear up this issue very soon and I'd like
Legal to sign off on the terminations.

Please don't hesistate to call me at x30569 or Cyndie Balfour-Flanagan at
x31443 if you have any questions or need further information.   Thanks!

---------------------- Forwarded by Stacey Richardson/HOU/ECT on 04/12/2000
02:00 PM ---------------------------

From:  Stacey Richardson
       04/12/2000 02:02 PM

To: Tricia Truong/HOU/ECT@ECT
cc: Cyndie Balfour-Flanagan/Corp/Enron@ENRON, Connie Sutton/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT
Subject: Hall Energy Company/Willis Enterprises Corp.

Tricia,

I've uncovered some troubling information regarding the issue with Hall
Energy Company and Willis Enterprises Corp. based on the info you sent me.
Apparently, at one time, Enron was assigned a Committed Reserves contract
with Hall Energy Company (Global #96003960) originally signed 05/07/84,
effective with first production 10/04/84, that is still effective.  Two deals
were entered in Sitara under this contract, covering 02/98 and 04/98
production.  From 05/98 production on, deals were tied to a GTC Purchase Spot
contract (Global #96014936).

I'm not sure why the GTC was set up when we had a purchase contract already
in place; it appears that this GTC covers the same well (Stewart #1) that the
Committed Reserves contract covers.  Not only that, but a point was set up
under the GTC (we don't set up points under GTCs, only under Committed
Reserves).  It was the same point under the Committed Reserves contract.
Also, later deals entered in Sitara even include this exact meter used for
the GTC.

You also included documentation from Hall authorizing payments to Willis.
I've reviewed all contract and correspondence files for this contract and can
find absolutely NO documentation showing that Willis in an interest owner in
this well.  Do you have any division orders or other assignments showing that
Willis has an interest in the Stewart #1?  If that's the case, I can add
Willis as a seller under the Committed Reserves and we can have all deals
moved to the original contract.  However, Willis still will not receive a
separate payment.  Enron will only issue payment to the counterparty on the
contract (the operator) so Willis will have to receive payment from Hall.

A GTC Purchase Spot contract (Global #96007659) was also set up for Willis
Enterprises Corp.  That could technically have been for separate purchases,
but more recent deals in Sitara show that these purchases were from the same
meter point for the Stewart #1 that the GTC for Hall used.  I can find no
documentation on either of the Hall or Willis GTCs to reflect that these were
set up to handle different wells than the one in question.  Without any other
paper, it is my guess that both the Hall GTC (96014936) and the Willis GTC
(96007659) were set up in error.  The people responsible for setting up the
contracts are no longer around and would probably not remember anything if
they were.  I would like to run this by Legal, but my inclination is to
cancel both GTCs and settle under the Committed Reserves contract set up
originally for Hall.  I will forward this information to Legal to see how to
proceed.

I know all this is confusing, but please let me know if you have any
additional documentation from Willis or if you have any questions.  I will
turn this matter over to Cyndie Balfour-Flanagan (who handles the "H"
counterparties) and she will let you know the outcome.  Of course, you can
always call me with questions, but this is really her domain since the
contract in question is with Hall.

Thanks,
Stacey  x30569


Corporate schizophrenia.  Weird.   DF

	From:  Susan Scott                           04/17/2000 03:17 PM

To: Drew Fossum@ENRON
cc:

Subject: Socal

SoCal's protest is ludicrous. I will work on a response.
By the way, SoCal has actually been remarkably helpful in reaching agreement
on a settlement -- which we just signed -- in the California GIR proceeding.


UN WIRE
An Independent News Briefing about the United Nations
-------------------------------------------------------
Tuesday, 10 October, 2000 - http://www.unfoundation.org

Today's UN WIRE Stories

UN AFFAIRS
 1 SECURITY COUNCIL: Assembly Votes Today On Membership
 2 UNESCO: Matsuura Seeks Funds For Reform
 3 US: Foreign Operations Budget Wrangle Affects UN Issues

HEALTH
 4 POLIO: Afghan Factions Begin Cease-fire For Immunization
 5 HIV/AIDS: General Assembly To Hold Special Session
 6 HIV/AIDS II: India Attempts To Address Growing Crisis
 7 RIFT VALLEY FEVER: WHO Appeals For Support In Yemen

WOMEN, CHILDREN AND POPULATION
 8 CHILD RIGHTS: UN Committee Concludes 25th Session
 9 CHILD SOLDIERS: UN Representative Calls For Further Action
 10 MOZAMBIQUE: Most Women Remain Poor, Minister Says

ENVIRONMENT
 11 ENDANGERED SPECIES: Cloning May Return Animal From
Extinction
 12 BIODIVERSITY: Eight Countries Proceed With Initiative
 13 JORDAN: Government Launches "Debt For Nature" Swap

ECONOMICS, TRADE AND DEVELOPMENT
 14 CHINA: WTO Entry Talks Stalled; More
 15 ILO: Agency Warns Of Stress Epidemic
 16 IMF/WORLD BANK: Commentary Critiques Reform Efforts

HUMANITARIAN AID AND FOOD SECURITY
 17 EAST TIMOR: Indonesia To Register Refugees; More

HUMAN RIGHTS, JUSTICE AND DEMOCRACY
 18 YUGOSLAVIA: UN Prosecutor To Expand Milosevic Indictment
 19 MYANMAR: UN Envoy Arrives On Mission To Ease Tension

PEACEKEEPING AND SECURITY
 20 MIDDLE EAST: Annan Meets Arafat, Barak In Bid To End
Violence

GET THE FULL SCOOP

These stories and the complete issue of today's UN Wire
can be found on the Web at http://www.unfoundation.org.
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Congrats Ray.  ... Now, get FERC to do something amazing.
---------------------- Forwarded by Steven J Kean/NA/Enron on 05/16/2001
02:12 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Richard Shapiro                           05/14/2001 09:52 PM

To: Ray Alvarez/NA/Enron@ENRON
cc: Harry Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J
Kean/NA/Enron@ENRON, Linda Robertson/NA/Enron@ENRON, Rebecca
McDonald/ENRON_DEVELOPMENT, Peter E Weidler/ENRON@enronXgate, Steve
Hopper/TRANSREDES@TRANSREDES

Subject: Re: Tariffs Approved

Outstanding outcome- Ray, this was an incredible result given the challenging
context, to say the least....You should feel quite proud of this achievment-
Thanks!

Linda Robertson
05/14/2001 01:06 PM
To: Ray Alvarez/NA/Enron@ENRON
cc: Harry Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, Richard
Shapiro/NA/Enron@ENRON, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J Kean/NA/Enron@ENRON

Subject: Re: Tariffs Approved

Excellent, and congratulations.

	Ray Alvarez
	05/14/2001 12:34 PM

		 To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, James D Steffes/NA/Enron@Enron
		 cc: Harry Kingerski/NA/Enron@Enron, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Tariffs Approved

The rate case that the governmental affairs group filed in January, on behalf
of Transredes, has come to a very successful conclusion and the new rates
will go into effect towards the end of this month.  The rates are not much
lower than what we filed for, and represent a very significant increase over
the previous rates.  The tariff methodology and revised regulations, put into
effect by the Supreme Decree, were followed to the letter by the regulator
despite political pressure to arbitrarily keep rates down.  The deliverables
here were to (1) obtain a tariff methodology via Supreme Decree that would
make the company finance-able / rescue it from dire financial straits and (2)
file a rate case and prosecute it to obtain hard rates in accordance with the
tariff methodology.  This second deliverable has now been completed.
Transredes has had a bond issue pending since last year due to the
uncertainty about rates; it is my understanding that the financial market
loved the ruling and that Transredes sold $40 million worth of bonds in about
5 minutes!  This ruling should also significantly increase Transredes's
market value, relative to Enron's efforts to sell its interest in the company.

---------------------- Forwarded by Ray Alvarez/NA/Enron on 05/14/2001 11:38
AM ---------------------------

Doug Farmer
05/11/2001 06:09 PM

To: Peter E Weidler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Hansvander.klink@shell.com.br, Hans.h.vanderklink@si.shell.com
cc: Jan van den Berg/TRANSREDES@TRANSREDES, John
Naphan/TRANSREDES@TRANSREDES, Cyro Camacho/TRANSREDES@TRANSREDES, Pedro
Elio/TRANSREDES@TRANSREDES, Fernando Gonzalez/TRANSREDES@TRANSREDES

Subject: Tariffs Approved

Gentlemen,

I am delighted to report that SIRESE approved substantial increases in TR's
tariffs consistent with the Law and Regulation.  The details are :-

     Existing Tariff SIRESE Approved % Increase TR/CLHB Proposed TR/CLHB %
Increase

Gas Export (including surcharges)  $0.18  $0.2205  22.5%  $0.26 (excluding
RG)  44.4%
Liquids Domestic    $1.05  $2.46  134.3%  $3.25    209.5%
Liquids Export     $1.55  $2.31  49%  $3.35    116.1%

CLHB's tariffs were also approved as follows $1.19  $2.20  84.9%  $3.528
196.5%

As you can see we did substantially better than CLHB (comparable with our
liquids domestic) !!

We will get a detailed report on the assumptions used by SIRESE to reach
their conclusions on Monday, but our inteligence suggests the following :-

1. Export gas volumes increased to 100% TR capacity, and 100% GSA + Cuiaba 2
assumed for SDA and TEMIN purposes
2. RG Compresion project deleted
3. Interest rate reduced to 10 or 10.5 % i.e. the rate in our bond issue
4. Liquids expansion in the South reduced
5. Some continuity of service CAPEX reduced
6. Unknown OPEX reduction and maybe a change to the OPEX allocation between
concesions
7. OCC in service date slipped from 2003 to 2004.
8. Debt/Equity assumption changed from 60/40 to 70/30

Our strategy to respond to each of these points is as follows :-

1. Volumes.  Covered by 8% rule, we can blete but can expect little back
here.  Clearly we will appeal if volumes exceed installed capacity in the
short term i.e. 2002/2003.
2. RG Compression - not worth fighting for since we don't even have the
support of BG
3. Interest Rate - We'll get this back when we do a tariff  revision and
actual rates are used.  When we get the detail we will appeal if Jan feels we
have concrete grounds i.e. commision costs etc. are omited.
4. Liquids Expansion in the South.  Here we intend to do a detailed analysis
of exactly what has been deleted and as a result what liquids/gas production
will be shut in.  If possible all assumptions to be agreed with the affected
producers (PB, BG, Vintage and Chaco).  We will then write to those
producers(copy SIRESE , VMEH etc.) stating that on their recommendation the
project scope was reduced by SIRESE.  We will give them an estimate of the
lost liquids/gas production (in both volume and cash terms) resultant from
this decision.  We will tell them that since they proposed these reductions
we have no intention of appealing them but invite them to appeal.
5. Continuity of Service Capex.  We need to see the detail here.  We will
take the moral high ground and be absolutely clear that we are not prepared
to compromise our safety and environmental standards.  We need to see exactly
what has been removed, but my thought is that if that means we are unable to
provide some services (e.g. LPG transportation) or the continued operation of
some liquids laterals, we should write to those producers affected suggesting
that if they wish these services to be continued they need to appeal the
decision.  Again since this is Capex we will get it back in the end on tariff
revisions as long as the expenditure is approved on an annual basis in the
SIRESE budget process.
6. OPEX - need to see the detail on Monday.
7. OCC - will not appeal - we need to do a detailed study to develop an OCC
strategy.
8. Debt/Equity ratio.  Strictly speaking what has been done is in accordance
with the Law/Regulation - the regulation says the maximum allowed equity is
40%.  However, we have very strong grounds to appeal since : a) we are
currently miles away from 60/40 let alone 70/30, b) we can only borrow for
CAPEX (as per bond issue and the policy of all/most banks/lending
institutions) with the case presented in the rate case if we borrow to cover
100% of CAPEX we can easily demonstrate that we are still miles away from
60/40.  We intend to fight this one very hard using all the
external/independant help we can get.

As you are all aware our big exposure with the rate case was that the much
needed substantial increase in liquids tariffs would not be approved and we
would be subjected to some form of arbitary cut.  This has not happened
SIRESE has now approved and hence owns these substantial increases.  Having
got the big hike our job is now to claw back as much as we can from the above
strategy in the full knowledge that the results of these efforts will be much
smaller and hence managable increases.

Attached is an analysis of the individual impacts on the tariff of the above
points and the corporate model using the new tariff with our volume
assumptions (i.e. the worst case).

Regards,
Doug


FYI.  Couple of pretty good takes from the press.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Calif Republicans May Prevail With 'Bailout' For Edison
Updated: Wednesday, July 18, 2001 03:17 PM;ET     ;
;
By Jason Leopold

Of DOW JONES NEWSWIRES

LOS ANGELES (Dow Jones)--Assembly Republicans could upstage Democrats in the
California Assembly Wednesday in a bid to rescue ailing utility Southern
California Edison Co. from insolvency.

And they may do so with a bill its backers unabashedly call a "straight
bailout" for the Edison International (EIX, news, msgs) unit.

"This how the minority in the Assembly can use their votes to derail majority
legislation," Jamie Fisfis, spokesman for the Assembly Republican Caucus,
said Wednesday.

The bipartisan bill, introduced by Assemblyman Rod Wright, D-South Central
Los Angeles, and Assemblyman Keith Richman, R-Granada Hills, capitalizes on
partisan politics and dissatisfaction with several elements of a competing
bill sponsored by Assembly Speaker Bob Hertzberg, D-Van Nuys, and Assembly
Speaker Pro Tem Fred Keeley, D-Boulder Creek.

Both bills face a critical vote Wednesday in the Energy Costs and
Availability Committee. Wright said he's secured nine votes for his bill on
the 20-person committee - the eight Republicans and one Democrat. Keeley's
office said his bill needs one more vote.

"It's going to be close," Wright said minutes before the committee hearing.

Assembly Republicans and some Democrats are concerned by provisions in the
Hertzberg bill that would have the state buy the utility's transmission
lines, limit consumers' ability to choose their power provider and place the
burden of the rescue on businesses.

Bill Forgoes Power-Line Buyout

Wright's bill would forgo those measures, instead allowing Southern
California Edison to recoup more than $3.5 billion in unrecovered power costs
through a surcharge placed on utility bills in exchange for a commitment by
the utility to sell power from its generation units to the state at cost.

Southern California Edison executives said the Hertzberg-Keeley bill, which
would require the company to absorb some of its wholesale-power losses,
wouldn't allow the company to become creditworthy and return to the power
business any time soon.

Consumer groups have criticized both plans as bailouts and have vowed to
overturn the rescue efforts if either is enacted. Business groups, including
the state's Chamber of Commerce and the California Manufacturers and
Technology Association, said if large businesses are stuck paying for the
bailout, consumers will feel the pinch through increased costs in the retail
sector.

Steve Maviglio, press secretary to Gov. Gray Davis, said the governor is
"working with the Legislature for an appropriate balance that does not place
any undue burden on any sector."

Lawmakers have until Aug. 15 to pass legislation supporting an April
memorandum of understanding between Southern California Edison and the state,
but have an effective deadline of Friday, the last day before a month-long
summer break.

Neither bill in the Assembly nor another bill in the Senate implements in
full the terms of the MOU, which calls for the state to buy the utility's
transmission lines for $2.76 billion and allow it to issue bonds to recover
$3.5 billion in wholesale power costs it hasn't been able to recover from
customers, whose rates are frozen.

Edison has said it faces bankruptcy if lawmakers don't act by the MOU's
August deadline.

-By Jason Leopold, Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

____________________________________________________
Six Months Later, Edison's Utility May Still End Up Bankrupt
By Liz Goldenberg

Rosemead, California, July 18 (Bloomberg) -- Even if California lawmakers
pass a rescue plan to bail out insolvent Southern California Edison, some
analysts say bankruptcy may be the only solution.

``The reason they haven't filed remains more of a mystery than when they will
file,'' said Jon Kyle Cartwright, a senior energy credit analyst at Raymond
James & Associates Inc. in St. Petersburg, Florida, who isn't recommending
buying any debt sold by California utilities.

``If the weather heats up or their creditors wise up, they'll have to go into
bankruptcy,'' said Cartwright.

Six months after the state's No. 2 utility defaulted on its debt, California
lawmakers are debating a rescue package designed to restore it to investment
grade status. Any failure to do so by Friday, when the legislature is
scheduled to adjourn for a month, may result in a collapse of negotiations
between the lawmakers, the governor, and the utility, and ultimately,
bankruptcy.

There are at least three versions under consideration, each targeting
different groups, such as large businesses or power suppliers, to help foot
the bill for the bailout. There isn't any agreement as to what the rescue
should look like, who will pay, and who is to blame for the situation.

Acceptable Option?

The bad news for the utility and its creditors is that ``bankruptcy seems to
be an increasingly accepted option by the legislature,'' said Dorothea
Matthews, the senior utility analyst for CreditSights, Inc., a research firm.

Any three unsecured creditors can file a petition to put the utility into
bankruptcy. Debt holders, banks, and power generators are Southern California
Edison's unsecured creditors.

The original rescue, signed on Apr. 9, between Governor Gray Davis and Edison
expires on Aug. 15. If legislative action isn't taken by then, either party
can back out.

That is something that Southern California Edison may do, ``given the delays
that have plagued the rehabilitation process at virtually every stage,'' said
David Bodek, an analyst who covers the utilities industry for Standard &
Poor's, a credit rating company.

Edison may decide that its utility may fare better under the eye of a
bankruptcy judge rather than politicians.

The lawmakers' goal is to save the utility in a way that is palatable to them
and to California voters. Stock and debt holders aren't a priority, analysts
said.

Do the Right Thing

``Investors will brunt the majority of the pain here,'' said Raymond James's
Cartwright. ``An investment thesis that requires a group of politicians to
get together and do the right thing is ill fated -- there is no way of
knowing what the state will or will not do.''

On a conference call yesterday with investors holding Southern California
Edison debt in default, Edison chief financial officer Ted Craver said that
while all the legislation being debated has returning the utility to
creditworthiness as a goal, the language needed to achieve that wasn't
included.

``This is the beginning of the legislative process'' that will go on for the
next few days, he said.

Creditworthiness, which Edison officials say is the most important goal, is
determined by credit rating companies and investors, rather than by the
legislature or the utility.

Stay Tuned

``Our money is still on an eventual filing'' for bankruptcy, said
CreditSights' Matthews, who puts those chances at about 80 percent. ``Stay
tuned. It ain't over until the fat lady sings, but we think we can hear her
warming up in the wings.''

Southern California Edison accrued more than $5.4 billion in debts as it paid
soaring wholesale power costs that a flawed 1996 deregulation law prohibited
it from passing on to customers. It has defaulted more than $930 million of
maturing debt since Jan. 16, and lost its investment-grade credit rating. The
utility owes banks more than $200 million for loans coming due on Sept. 15
and has no access to the capital markets.

``With few notable exceptions, (utility) bondholders have been well served by
regulatory and political support for the financial well-being of'' utilities
such as Southern California Edison, S&P's Bodek said.

Lacked Support

California's utilities have ``lacked such support over the past year, as
manifested by a stubborn and prolonged resistance to remedial action despite
imminent insolvency.''

Pacific Gas & Electric Co., the state's largest investor- owned utility,
filed for bankruptcy protection on April 6 after racking up more than $9
billion in debts.

The state stepped in to keep the lights on and the power flowing after
suppliers refused to extend additional credit to the state's two largest
investor-owned utilities. California has spent more than $7 billion buying
power since January.

It is still possible that a last minute deal will satisfy all parties,
analysts said.

``What worries me is that there is nothing in the legislation that will allow
the utility to pass on reasonable power procurement costs in the future,''
said Susan Abbott, a managing director in the power group at Moody's
Investors Service, a credit ratings company.

``If a bill goes through that in no way addresses the issue of power cost
recovery for the utility, it would potentially be subject to the same
conditions that resulted in the financial distress it's experiencing today.''
;  ;


To All:
Attached is the list of Enron entities and Hess entities to be included in the Master Collateral/Netting Agreement.

Jeff- Can we please prepare 2 Enfolios, one for Amerada Hess Corp. and Hess Energy Trading Company, LLC. The Cross Default amounts in each contract should be $100 MM for ENA and the respective Hess entity. The collateral and MAC provisions will be contained in the Master Netting Agreement.

Frank- Please include Hess Energy Trading Company UK Limited, as agents for Hess Energy Trading Company, LLC  in the Master Netting Agreement. The proposed Power of Attorney for this entity was sent to you earlier today.

Thank you all for the help and please call if you have any questions.
-Darren


How do they override letters go out?  Do you tell someone, do I need to?


-----Original Message-----
From: 	Bleshman, Wilma
Sent:	Thursday, December 13, 2001 1:37 PM
To:	Hrach, April
Subject:


Please disregard the confirm attached below. Per ongoing conversations, they
now want for us to create a confirm that allows them to add or delete shares
at any time without having to create a new confirm for any new trade. They
expect the volume of trades will increase in the near future. I will revise
the confirmation to include language to ths effect for your review. I will
send it to you shortly. I would like to meet with you along with Aneela
Charania, who is the transaction, to ensure  the confirm captures what is
intended. Once you receive the revised confirm I will call Kaye to schedule a
meeting with you.

Thanks for your patience.

Jorge
---------------------- Forwarded by Jorge A Garcia/NA/Enron on 03/28/2001
10:42 AM ---------------------------

Jorge A Garcia
03/28/2001 09:52 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Laurel Adams/HOU/ECT@ECT, Aneela Charania/HOU/ECT@ECT

Subject: Re: Equity Swap ISDA Confirmation

Good Morning Sara,

Thank you again for reviewing the Equity Swap ISDA Confirmation the other
day. They now want to capture the trades in question as a basket equity swap.
I have modified the confirmation to accommodate the basket and included Annex
I. Please review and advise if any changes should be made.

Thanks!

Jorge A. Garcia
Manager- Risk Management
Enron Global Markets LLC
713/853-5596


Please see attached memo and "New Curve Setup Form" template.

Also, please forward to all Book Administrators.

Thanks,
Mike


What the NYMEX is trying to get at is their concern that the NYMEX considers
the trades of ENA and its two other principal trading affiliates (Enron
Canada and London) to be one and the same as ENA.  It is also concerned that
we might and try and set up other companies and trade of of those to try and
increase our overall trading volume with the NYMEX.  Further, the NYMEX also
doesn't want us to increase our company's overall trading volume, by "hiding"
trades through accounts in the name of individual employees,   The Annual
Hedge Exemptions applications require that ENA represent whether its
officers, employees, owners, or agents have a power of attorney, control or
have a financial interest in any other related commodity future(s) account
either individually or acting with another person pursuant to express or
implied agreement.as indicated in the original email from Mark.   The
transaction you mentioned below doesn't appear to be problematic, since it
flows through ENA's risk books,  thus not increasing the overall position the
NYMEX allows us to trade.

This annual email has a secondary unplanned, but helpful control purpose, it
fleshes out the trading of employees that might be in violation of the
Company's Trading Policy.

	Michael Etringer
	06/23/2000 09:41 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Jim Gilbert/PDX/ECT@ECT, Karen E Jones/HOU/ECT@ECT
		 Subject: Re: Enron North America Corp. NYMEX Hedge Exemption Applications

Tina,

I need some clarification in regards to this email.   ENA holds interest in
the LV Cogeneration Limited Partnership, both directly and through its
friendly investor structure,   which is a QF facility located in Las Vegas.
As part of the financing of the facility, ENA entered into a 10 year
financial NYMEX swap with LV Cogen.  Brad Richter, ENA VP, signed the NYMEX
confirmations on behalf of LV Cogen (Desert Arc LLC) and ENA.

Is this transaction of interest to you and do you need additional information
with regards to this transaction?

Regards,
Mike Etringer
503-464-3836

Jim Gilbert
06/23/2000 07:18 AM
To: Michael Etringer/HOU/ECT@ECT
cc: Frank W Vickers/HOU/ECT
Subject: Enron North America Corp. NYMEX Hedge Exemption Applications

Mike,

Is this something we need to respond to?  Please advise.

Thanks,
Jim

---------------------- Forwarded by Jim Gilbert/PDX/ECT on 06/23/2000 07:15
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Mark Taylor @ ENRON                           06/21/2000 04:39 PM

Sent by: Enron Announcements@ENRON
To: All Enron Houston, Everyone_in_ECT_Calgary, Everyone_in_ECT_London,
Everyone_in_ECT_Portland, Everyone_in_ECT_New York, Everyone_in_ECT_Denver,
Everyone_in_ECT_Oslo, Everyone_in_ECT_Singapore, EI-Australia, Buenos Aires
Argentina - Office Staff, Buenos Aires Argentina - TGS Office Staff, Enron
Everyone_EOG_Denver, Enron Everyone_EOG_Calgary
cc:
Subject: Enron North America Corp. NYMEX Hedge Exemption Applications

We are in the process of preparing applications for position limit exemptions
for ENA,s NYMEX energy commodities futures trading.  These applications
require that ENA represent whether its officers, employees, owners, or agents
have a power of attorney, control or have a financial interest in any other
related commodity future(s) account either individually or acting with
another person pursuant to express or implied agreement.

Please direct any responses to my paralegal, Tana Jones, via intercompany
email or call her at (713) 853-3399 by the end of business Friday, June 30,
2000 if you have any power of attorney, control or have a financial interest
in any commodity futures account (other than an ENA or other trading
affiliate account).

IF YOU DO NOT HAVE A COMMODITY FUTURES ACCOUNT, YOU DO NOT NEED TO RESPOND TO
THIS REQUEST.


I'll put this in, but I think items like this need to be kept by the
individual receiving them.  We probably need to talk about this in August.

Leo

Larry Campbell
07/18/2000 05:52 PM
To: Leo Nichols/ET&S/Enron@Enron
cc: Rick Cates/ET&S/Enron@Enron, Butch Russell/ET&S/Enron@Enron

Subject: Thanks

Leo, I would like this note to be placed into the environmental notebook for
the final review.  Thanks much
---------------------- Forwarded by Larry Campbell/ET&S/Enron on 07/18/2000
04:57 PM ---------------------------

Team San-Juan
07/18/2000 09:05 AM
To: Rich Jolly/ET&S/Enron@Enron, Rick Smith/ET&S/Enron@Enron, Butch
Russell/ET&S/Enron@Enron, Larry Campbell/ET&S/Enron@Enron, Team
San-Juan-LaPlata/ET&S/Enron
cc:

Subject: Thanks

The Mighty Ducks would like to thank Rick Smith, Butch Russell and Larry
Campbell for all  the help we received from them in preparation for our Mega
Audit. We would like to thank them for taking time out of their busy
scheduled to help us prepare for our audit. Their help was greatly
appreciated. With their extra effort the Mighty Ducks are still fling high.
The Ducks think that they should receive some recognition for their
tremendous help. (American Express)

        Faithfully your Number One Team

        The Mighty Ducks


Don't you have work to do??
: )

rmendoza@mail.mdanderson.org on 12/07/2000 03:51:22 PM
To: aballesteros@vaughnconstruction.com, ckraham@enron.com,
sscott3@enron.com, craig.hiddleston@enron.com, LKTiemann@dkapl.com,
DMMoreau@dkapl.com, SZSmith@dkapl.com, KDBelinowski@dkapl.com,
mmcain_1998@yahoo.com, smiling417@aol.com, GIGDEM@aol.com,
PLopiccolo@aol.com, mhowell@mdanderson.org, radracr5@hotmail.com,
aowintx@hotmail.com, jkane@mdanderson.org, trjackson@mdanderson.org,
cmgregg@mdanderson.org, fthomas@mdanderson.org, nortega@mdanderson.org,
mdgarcia@mdanderson.org, MFlores@mdanderson.org, fygr@dynegy.com,
craig@sportsperformancecenter.com, MOM2522@aol.com, Tiny105@aol.com,
MWitsken@aol.com, Kardo1225@aol.com, PJFTennis@aol.com, shanestone@hotmail.com
cc:

Subject: FW: Sledding

---------------------- Forwarded by Rosanna A. Mendoza/MDACC on 12/07/2000
03:42
PM ---------------------------

"CALVIN SUDDEATH" <CALVIN.SUDDEATH@prodigy.net> on 12/07/2000 03:28:25 PM

To:   "Victoria Gardner" <gardnervictoria@hotmail.com>, "Tim Volpone"
      <tceanr@knownet.net>, "Tim Carlson" <tctmc@hal-pc.org>, "Thomas C
      Mitchell" <tcmitch@acninc.net>, "Susan/Brad Leonard"
<bleonard@ncweb.com>,
      "Susan Prins" <prins.susan.r000@sysco.com>, "Stephen Schneider"
      <srvtx@hotmail.com>, "Stephen Schneider" <stschneider@na.cokecce.com>,
      "Scott Pokorny" <Roofman920@aol.com>, "Sandy Rodabaugh"
      <srodabaugh@suite224.net>, "Rosanna A Mendoza"
      <rmendoza@mail.mdanderson.org>, "Rodney Ashley" <HotRod02@flash.net>,
      "Robin Miggo-Wells" <Hobowells@Yahoo.com>, "Robert W Dale"
      <Robertwdale@aol.com>, "Ralph H Sanchez" <ralph.sanchez@compaq.com>,
      "Phillip Lathan" <plathan@columbus.rr.com>, "Paula Ruple-Blum"
      <vablum@msn.com>, "Naomi R Rodriguez" <end.nat@prodigy.net>, "Missy
      Starling" <missy.starling@ceridian.com>, "Mary M. O'Connor"
      <moconnor@giveblood.org>, "Martin Vaughan Faubion"
<Martin@Pacchart.com>,
      "Larry Haines" <lhaines@mwweb.com>, "Kelina Seppi"
      <Kellukalla@hotmail.com>, "Keith Whitman" <WhitmanK@unk.edu>, "Karen
      Warren-Shank" <Shanekel@aol.com>, "Jennifer Brito"
      <JSBrito@earthlink.net>, "Janis Newman" <janis1@swbell.net>, "Erica L
      Smallwood-Elliott" <elliott4@suite224.net>, "Duane K Durham"
      <dkdbull@aol.com>, "Christine Miller" <christine@zmailmedia.com>,
"Carolyn
      J Austin-Campbell" <SCamp32561@aol.com>, "Carl Bruce"
      <Cbruce@houston.rr.com>, "Bridget Porter"
<Porter.Bridget.r000@sysco.com>,
      "Brian Marshall" <brian.marshall@ca.com>, "Brandie Rhodes"
      <brhodes@aeros.com>, "Bobbie Darbonne"
      <bdarbonne@pegasus-international.com>, "Beth  Wright"
      <Bethann115@hotmail.com>, "Andrew Christie" <achristie@cynetinc.com>,
"Amy
      Coons" <amy26@gateway.net>
cc:    (bcc: Rosanna A. Mendoza/MDACC)
Subject:  FW: Sledding

-----Original Message-----
From: Kandy K Kaleh [mailto:kkkaleh@riley-harris.com]
Sent: Thursday, December 07, 2000 2:54 PM
To: 'Calvin Suddeath'; 'Purrecious'; 'Sandy Wagner'; 'Sheryl'; 'Steve';
'Steve Schneider'; 'Spencer Dunn'; 'Sheryl'
Subject: FW: Sledding

-----Original Message-----
From: Renea Ziemba [mailto:rziemba@springtime-santa.com]
Sent: Wednesday, December 06, 2000 10:29 AM
To: Vicki; Trace; Terry; Stevie; Maureen; Mary; Lisa; Kelly; Kathy
Wozny; Judy Stern; John & Katie; Franzee; Domenica; Chrys; Cari
Subject: Fw: Sledding

----- Original Message -----
From: "Sue Gutkowski" <SGUTKOWSKI@J-QUIN.com>
To: "Bill (E-mail)" <Bill_Grimpe@HomeDepot.COM>; "Brian Wozny (E-mail)"
<CHICAGO_ANIMAL@YAHOO.COM>; "cai (E-mail)" <Grandmacai@webtv.net>; "Carol
Brown (E-mail)" <kctrip@nitline.net>; "Dawn (E-mail)" <galmal@yahoo.com>;
"Edith Amesquita (E-mail)" <ESAmesquita@johncrane.com>; "Judy (E-mail)"
<JetCityWoman@mindspring.com>; "Karen (E-mail)" <karen@pipeline.com>; "Renea
(E-mail)" <rziemba@springtime-santa.com>; "Rob (E-mail)"
<rgutkow106@aol.com>; "Ron (E-mail)" <RON6503@aol.com>; "Sally (E-mail)"
<sallyb@unitedinsulated.com>
Sent: Wednesday, December 06, 2000 9:46 AM
Subject: FW: Sledding

>
>
>
>
> > <<downhill.exe>>
>

 - downhill.exe


This is to confirm the budget meeting scheduled for Tuesday, October 30 @ 11:00 a.m. in EB32C2.  Please advise me only if you are unable to attend.

Many Thanks,

Liz Taylor


Commissioner Wood has issued extensive questions on direct access, continuing his harassment of ESPs.  He raises the issues of moving the termination date back from September 20 and supposed cost shifting.  He also asks for copies of contracts with customers and extensive information about those contracts. Comments are due Nov 2 with replies due Nov 8.  We plan to respond aggressively through our coalition, Alliance for Retail Energy Markets (AReM). We WILL NOT be providing any contract information.


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 04/13/2000
04:37 PM ---------------------------

	Enron North America Corp.

	From:  Maria Sandoval                           04/13/2000 01:29 PM

To: Andrea R Guillen/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Cassandra S
Dutton/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT,
Melba Lozano/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT,
patty.soria@halliburton.com, elizabeth.gutierrez@eott.com, Judy
Hernandez/HOU/ECT@ECT, Elizabeth Soto/HOU/ECT@ECT, amolina@unifirst.com,
apena26@hotmail.com, Pamela Sonnier/HOU/ECT@ECT, Brenda
Barreda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Yolanda Pena/Corp/Enron@Enron
cc:
Subject: FW: : Rescuing Hug

---------------------- Forwarded by Maria Sandoval/HOU/ECT on 04/13/2000
01:29 PM ---------------------------

Yolanda Sandoval <Yolanda.Sandoval@Halliburton.com> on 04/13/2000 01:18:50 PM
To:
cc:
Subject: FW: : Rescuing Hug

Yolanda Sandoval
KBR Legal Dept.
713-753-5986
yolanda.sandoval@halliburton.com

 <<RESCUINGHUG.JPG>>

 - RESCUINGHUG.JPG


Mr. Baughman, Jose direct me to you for a position that you may have available. Attached is a copy of my resume I appreciate your time
to review it.
Thank you very much
Federico G.Schoenhofer
FX Trader
Banamex Houston
713-739-8740
800-882-8740

------
Attachments are virus free!
This message has been scanned for viruses at the originating end by Nemx AV for MS Exchange Client
        http://www.nemx.com/virus/home.html

 - Resume No 3.doc


Tara and Matt,

Following is list of error message for west pl 5/5/2001 - 5/7/2001 as of this morning --

Pipeline Name				Msg_Received_DTM		Msg_Desc							Status
----------------------				------------------------------------	--------------------------						-----------------------------------
Kinder Morgan Points D - Cycle 2	05/07/2001 12:22:18 AM		Exclude found in file: An error occurred while executing the page	Job failed
Kinder Morgan Points D - Cycle 4	05/05/2001 11:22:36 PM		Exclude found in file: An error occurred while executing the page	Job failed
Kinder Morgan Points R - Cycle 2	05/07/2001 12:22:19 AM		Exclude found in file: An error occurred while executing the page	Job failed
Kinder Morgan Points R - Cycle 4	05/05/2001 11:22:36 PM		Exclude found in file: An error occurred while executing the page	Job failed
Kinder Morgan Segments - Cycle 2	05/07/2001 12:22:19 AM		Exclude found in file: An error occurred while executing the page	Job failed
Kinder Morgan Segments - Cycle 4	05/05/2001 11:22:36 PM		Exclude found in file: An error occurred while executing the page	Job failed

Transcolorado Points D - Cycle 2		05/07/2001 12:22:19 AM		Exclude found in file: An error occurred while executing the page	Job failed
Transcolorado Points D - Cycle 4		05/05/2001 11:22:36 PM		Exclude found in file: An error occurred while executing the page	Job failed
Transcolorado Points R - Cycle 2		05/07/2001 12:24:07 AM		Exclude found in file: An error occurred while executing the page	Job failed
Transcolorado Points R - Cycle 4		05/05/2001 11:22:35 PM		Exclude found in file: An error occurred while executing the page	Job failed
Transcolorado Segments - Cycle 2	05/07/2001 12:22:19 AM		Exclude found in file: An error occurred while executing the page	Job failed
Transcolorado Segments - Cycle 4	05/05/2001 11:22:35 PM		Exclude found in file: An error occurred while executing the page	Job failed

Finding and solution --

Kinder Morgan and Transcolorado web site has no data for cycle 2 (since 5/6/2001) and cycle 4 (since 5/5/2001).  These cycle infomation were up this morning after I checked few times.  I reset these jobs and all the missing data has been captured and saved to shares and database.

Eddie


To all:

As of today, Bridgeline has $14MM of cash and expects to get $15MM from the payment of Oct receivables by the end of the month.  They have fully drawn down the $35MM revolver that we put in place earlier this year.  Trevor Mihalik (Bridgeline CFO) is preparing a cashflow forecast for Bridgeline from now to the end of the year and next year.

Bridgeline's major cash needs are to fund working capital (payables and margin calls) and to purchase gas that must be used to dewater the storage cavern (Enron #1) that we contributed to the partnership.  The dewatering process is now underway and will be completed mid-March 2002.  At a gas price of $2.50 and, working gas volume of 6 bcf, the total cash need for working gas will be approx. $15MM.

We are working with Bridgeline to find other sources of financing for the working gas that would enable them to make (and accelerate) the 2001 cash distribution to the partners.  Alternatives we are considering to fund the working gas: (i) increase the revolver from $35MM to $70MM,  (ii) find third parties (Enron ?) to enter into park-and-lend arrangements that would give Bridgeline the physical gas they need to dewater the facility without having to pay cash for it.   Most options will require Chevron/Texaco approval, which may come at a price.

I will distribute the cash flow statement when I receive it and Jean and I will meet with Randy and Trevor next week to discuss alternative financing/park-and-lend arrangements.   I have been cloaking my questions on the need for cash under the guise of putting together the 2002 plan (budget, headcount, capital needs, insurance requirements, etc.).  We should adhere to this commercial context so that we don't provide leverage to Bridgeline and Chevron/Texaco in any commercial discussions.  I will admit, however, given the headlines, it does not take a genius to figure out we need cash.

Regards,
Brian

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Friday, October 26, 2001 8:46 AM
To:	Hodges, Georganne
Cc:	Colwell, Wes; Redmond, Brian
Subject:	RE: Bridgeline Cash and AR

Brian Redmond is working this

 -----Original Message-----
From: 	Hodges, Georganne
Sent:	Thursday, October 25, 2001 5:06 PM
To:	Kitchen, Louise
Cc:	Colwell, Wes
Subject:	FW: Bridgeline Cash and AR
Importance:	High

I am not sure when we received our last cash distribution from Bridgeline but will check.  Should we pursue?

 -----Original Message-----
From: 	Gruesen, Karen
Sent:	Thursday, October 25, 2001 5:03 PM
To:	Hodges, Georganne
Subject:	FW: Bridgeline Cash and AR

 -----Original Message-----
From: 	Schwarzbach, Emily
Sent:	Thursday, October 25, 2001 4:41 PM
To:	Gruesen, Karen
Subject:	Bridgeline Cash and AR

Karen,

The following are the Bridgeline account balances as of 9/30/01 that you requested:

Cash - $34,374,000

AR - $88,224,562

If you have any further questions or need additional information please let me know.

Thank you.

Emily


Here sis part 2 of Skillings presentation.
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 03/06/2000
10:08 AM ---------------------------

Jason R Wiesepape
02/03/2000 10:32 AM
To: Benjamin Rogers/HOU/ECT@ECT, Michael Danielson/HOU/ECT@ECT
cc:
Subject: 2000 Analyst cont'd

---------------------- Forwarded by Jason R Wiesepape/HOU/ECT on 02/03/2000
10:31 AM ---------------------------

	Enron North America Corp.

	From:  Michael B Rosen                           02/03/2000 10:16 AM

To: Jason R Wiesepape/HOU/ECT@ECT
cc:
Subject: 2000 Analyst cont'd


Evelyn -
Here's the status of those year-long deals I changed last night. Everything
should look good now - 571920 now has 25 mwh and 571801 is killed. Let me
know if you still see something wrong.

Thanks,
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/06/2001 08:54 AM
---------------------------
   Kate Symes                04/06/2001 08:40 AM

To: Fran Chang/PDX/ECT@ECT, Heather Dunton/PDX/ECT@ECT, Samantha
Law/PDX/ECT@ECT, Casey Evans/Corp/Enron@Enron
cc:

Subject: Deal Change - Revision of last night's Deal Correction Report

This morning I was notified by Confirms in Houston that one of the deal
changes I made last night didn't come through on their side. If you refer to
the Deal Correction Report from yesterday, Mike Swerzbin did a deal with EES
for Cal'03 that he mistakenly entered twice, once for Cal'03 (571920) and
once for Cal'02 (571801). He killed 571920 and kept 571801, but the trade was
actually for Cal'03. (Is everyone still with me?) So I restored 571920 and
killed 571801 to reverse what he had done. But in my rush just before your
calc last night I neglected to look at the volumes of the deal I was
restoring, which incidently had been zeroed out, thus leaving Mike with no
value for either of the deals.

I've reinstated the volumes in deal 571920 and added the error to today's
deal correction report. I just wanted to give you guys a heads up. Please let
me know if you have questions.

Thanks,
Kate


FYI
m
---------------------- Forwarded by Mike McConnell/HOU/ECT on 11/13/2000
09:28 AM ---------------------------

Shawn Cumberland@ENRON_DEVELOPMENT
11/11/2000 03:57 AM
To: Mike McConnell/HOU/ECT@ECT
cc:
Subject: hello

Mike:

Many thanks for all of the support in the placement of the former CALME
employees.  We are done to just a very few at this time.

It appears that your new squad is getting some traction on building the LNG
business.  I'm pleased to hear that.

I look forward to hearing how our transportation or logistics business is
developing.  Perhaps we can get together sometime during the San Antonio
conference to catch up.

All the best.  Shawn

PS.  the following is an interesting article about the online intermodal
landscape.

Hashing Out E-commerce.
JOHN GALLAGHER
10/23/2000
Traffic World
Page 29
Copyright 2000 Gale Group Inc. All rights reserved. COPYRIGHT 2000 Journal of
Commerce, Inc.

'Dot-coms' explain how they hope to compete in intermodal market and among
themselves

With some 150 websites devoted to transportation, e-commerce companies
acknowledge that it's difficult for potential customers to cut through the
confusion and figure out who's doing what and who's going to be with them for
the long term.

Because of the competition between their respective railroad partners, one of
the bigger questions for intermodal shippers is the relationship between
Arzoon and Freightwise. There has been speculation that after Freightwise was
established by Burlington Northern Santa Fe Railway, four competitors --
Union Pacific Railroad, Norfolk Southern, CSX and Canadian Pacific Railway --
teamed up with rival e-commerce site Arzoon in a response to BNSF's proposed
merger with Canadian National Railway. However, both Freightwise and Arzoon
claim that's not the case. "I'm continually asked, 'What's up with the four
railroads and Arzoon?'" said Charley Eisele, UP senior vice president,
strategic planning. "People are trying to make a whole lot out of the
coincidence of these two things from a timing perspective. The reality is, it
was a decision made on the underlying business model."

Freightwise executives agree with that assessment, pointing out that because
the industry happened to be divided along merger lines at the same time the
railroads were aligning with e-commerce initiatives, it seemed too much of a
coincidence that the same four railroads opposing the merger were the ones
joining Arzoon. However, "I think to launch a company like this takes more
than just a reaction to a merger," said Freightwise Chief Marketing Officer
Sanjay Joshi.

There are major differences between the two Internet companies starting with
their business plans. Arzoon categorizes itself as a "shipper-centric
transportation management system," whose target market is the roughly 80
percent of the transportation business that currently moves under contract.
Freightwise, on the other hand, classifies itself as a transportation
exchange and is targeting the remaining 20 percent of the market procured on
a spot basis. Arzoon, whose primary focus is the shipper, is setting out to
help manage the relationships that already exist between shipper and carrier.
The priority for carrier-focused Freightwise is to make sure the capacity is
there for shippers who log on to their system.

In addition, Arzoon, which currently is involved only with rail and truck,
wants eventually to become a transportation management system that "manages
across all modes and borders," including ocean and air freight, said Eisele.
Freightwise will stick to truckload and inter-modal for the time being.
"We're not sure about getting involved with air freight, given the size of
the market and the economics," said Joshi. "It takes a different set of
products and economics than surface transportation. Maybe sometime down the
line, but right now we really plan on getting entrenched in the truckload and
inter-modal spot market. We think that's a lot to chew. The key is to focus
on a particular footprint that we can begin to own rather than get too broad
and lose focus."

The fact that Arzoon and Freightwise have teamed up with different rail
carriers is another cause for concern. Will there be a disincentive on the
part of carriers to use each others' e-commerce initiatives and ultimately,
therefore, a disadvantage for prospective customers?

"The answer is the 90-10 rule," said a source from an Arzoon rail partner. "A
particular shipper is in a position where 90 percent of their business is
conducted via truck and other modes, and maybe only 10 percent via railroads.
If the choice presented to them is to select a system that addresses all
modes effectively or one that only addresses a particular mode, then the
90-10 rule would suggest that greater leverage would lie in picking the
broader, multimode transportation management system. In that case, even
though a railroad may have another (e-commerce) approach, it would clearly
have to respond to the customers' needs in that situation."

Freightwise's Joshi makes a similar argument. "Freightwise is merely another
channel for BNSF to market its services," he said. "It posts a certain set of
rates for what it believes to be fair for the service. It's not for
Freightwise to decide what rates BNSF decides to move through its channel."
UP may not decide to post its rates on Freightwise, Joshi said, "so then BNSF
would have to find out what's the competitive rate relative to UP."

Another question arises as to whether Arzoon may have a competitive advantage
over Freightwise, particularly from an intermodal standpoint, because it is
backed by both Eastern and Western carriers. whereas Freightwise is backed
only by BNSF. "I would only say that the partnership we have with BNSF is not
exclusive and that we're talking to other railroads as well," Joshi noted. He
added, "This is an exchange to market your capacity and services. It would be
very difficult for six railroads to do something on their own; there would be
no critical mass. It's to the advantage of the other railroads to
participate."

Along with BNSF, which provides Freightwise with instant capacity, the
company recently signed GE Corp. as an "anchor tenant" and equity investor
that will help Freightwise reach the critical mass Joshi talks about. As both
a major supplier to the rail industry (locomotives) and a potential shipper
(appliances), "the goal is to use GE as something we can leverage, and work
with their respective divisions as a way to reduce their transportation
costs," he said.

Visibility is a key advantage for potential customers of both Interment
companies. "As a transportation management system with access to all modes,
it allows shippers to be more efficient in the management of transportation,"
Eisele said. "Cross-modal visibility means that because they'll be managing
their truck business under the same system as rail, the economics of rail
will be much more visible. And we believe that with comparable reliability,
the economics will be compelling to the point where rails will garner a
greater share of those customers' total transportation buy."

Joshi claims a big difference between Freightwise and other exchanges is that
when a shipper is looking for transportation options between specific
origin-destination pairs, Freightwise allows customers to make side-by-side
comparisons between truck and intermodal. It is this price and service
transparency, Joshi says, that will save its customers money: "We're giving
customers three to five choices between truck and intermodal, not 50, so that
they can see service and price parameters."

Intermodal e-commerce ventures such as Freightwise also bring up the question
of competition with traditional intermodal marketing companies. Joshi points
out that its fee for doing a lot of what small and midsize IMCs do currently
-- such as load matching, tracking and tracing and order processing -- is 3
percent, which is split between the buyer and seller of the services. This
compares to the 18 to 20 percent that customers traditionally have paid for
retaining an IMC. "I don't think all brokers will embrace us," Joshi
conceded, but at the same time, "there will be a segment of brokers who will
begin migrating into higher-added-value services, for example, the
third-party logistics side rather than the classical brokerage. They'll get
into things like inventory management on behalf of shippers and leave
back-end processing to firms like Freightwise."

Webmodal, which is a purely intermodal e-commerce venture whose vision is to
"make intermodal much more like truck in the eyes of the shipper," points out
that it can take customers several days to receive a bid from a traditional
IMC. "We can immediately configure door to door intermodal solutions that we
can put together using our underlying carrier relationships," said Webmodal
founder and CEO Chris Kravas. "We do business with a lot of large U.S.
railroads and with 37 drayage companies. We give everybody access to all the
information they might need to make decisions on price vs. service tradeoffs,
and which carriers make most sense based on what the shipper is trying to do.
And we do it without the traditional one-to-three-day wait that typically
happens in response to a normal request for (intermodal services)."

Kravas said the company has invested time and expertise in developing what it
calls a "first-ever" schedule engine that works door to door. "Traditionally,
the industry hasn't had a schedule engine that involves the
'dray-plus-rail-plus-dray' services, so there's been pretty much a reliance
on rules of thumb. But the truth is, it doesn't take anywhere near eight days
for most origin-destination pairs. We have a very robust way of representing
the capabilities of the dray carriers as well as the rail carriers, so that
much more truck-like transit can be shown to be viable."

Because of this, Webmodal sees itself as more of a technology and e-commerce
company than a traditional IMC, and considers itself more a vendor than a
competitor. How does a small or midsize IMC work as a customer of Webmodal?
"Not all small IMCs are set up to do business with all of the railroads or
with a large set of drayage companies," Kravas said. "What we do for them is
give them a low-cost way to access, a comprehensive array of intermodal
products and services available in the U.S. We've established ourselves as a
business partner with a large base of first-rate drayage companies across the
country. So if you're an IMC with an opportunity to handle freight in a new
market, Webmodal allows you to put together a service and pay only a modest
fee." Kravas wouldn't disclose the company's fee structure, only that it
charges per shipment for a web-based order and a "slightly higher" fee for a
phone or fax order.

A smaller IMC also could use Webmodal to put in place a private version of
its technology that would enable the IMC to better manage its business. "That
would range from pricing, order fulfillment, customer service -- kind of the
whole spectrum of capabilities that would allow an IMC to take advantage of
our system," Kravas said.

Everyone's waiting to see who's going to survive the transportation dot-com
fallout. Before that happens, however, Freightwise may find itself as big a
competitor with Arzoon as it is with a company like Webmodal. "We're starting
from different points," said Freightwise's Joshi, "but down the line, yes, I
can see" more head-to-head competition between the two companies.

In addition to establishing itself in that 80 percent of the market devoted
to transportation contracts, UP's Eisele notes that Arzoon also has a
catalog-capability function, which eventually can be used to auction capacity
in the spot market -- the market in which Freightwise is establishing itself.
"We will very much have the capability to enable spot market buying," he
said.

As Webmodal's Kravas pointed out, "It's going to be an interesting next six
months."

Arzoon-A.T. Kearney partnership

Consulting firm A.T. Kearney, a unit of Dallas-based EDS, and Arzoon, which
provides Internet-based services for managing transportation work processes
worldwide, have formed a strategic alliance.

A.T. Kearney was one of the first to establish a dedicated practice helping
shippers manage transportation more effectively on a global basis. Its
clients now will have direct exposure to Arzoon's transportation management
trading network, which provides online services for managing the full life
cycle of work processes across all modes, systems and enterprises.

Similarly, Arzoon and its clients can access "select" A.T. Kearney consulting
services, the company said. That includes inbound transportation management,
supply-chain and distribution rationalization, carrier selection and process
improvement, Arzoon said.

"Superior transportation management has emerged as a critical success factor
in the increasingly competitive world of commerce," said Randy Garber,
transportation services co-leader of A.T. Kearney's operations services
practice. "We think service companies, manufacturers and retailers that
incorporate the speed, simplicity and efficiency of the Internet into their
supply chains will lead their markets."

The plan is for both A.T. Kearney and Arzoon to gain valuable understanding
and insights into how the Internet creates great efficiencies in both the
strategic and tactical needs of transportation professionals, Garber added.

"We believe that the knowledge gained from this collaboration will benefit
our clients as well as Arzoon's customers involved in the $1 trillion global
freight transportation market," Garber said.

An Arzoon official said the company was "very pleased" to be associated with
A.T. Kearney, which Arzoon described as a "premier problem-so1ver." A.T.
Kearney has a global presence that includes 62 offices in 37 countries.
Arzoon.com, San Mateo, Calif., is a year-old Internet startup that describes
itself as a company that is working on "the transformation of the worldwide
transportation market into a networked community."

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


Tom/Bill

Attached hereto, is the response letter to Duke Energy Merchants, LLC relating to their demand for adequate assurances of performance from ELFI, EGLI, ECT and ENA.

I have copied Elizabeth Sager on this e-mail, as there may be a similar letter that has been sent to EPMI, though I have not seen a copy of this letter.  In the event that there is such a request outstanding the entity may be added to the letter already prepared.

Please let me know if you have any questions or comments.  Please note that the "bcc" list should not be sent with the final copy of the letter to Duke.

John

 -----Original Message-----
From: 	Moran, Tom
Sent:	Tuesday, November 27, 2001 5:04 PM
To:	Bradford, William S.
Cc:	Robison, Michael A.; Viverito, John; Rohauer, Tanya; Mcginnis, Stephanie
Subject:	Adequate Assurance Letters for Tonight

Bill,

?	John Viverito is drafting a response to Duke Energy Merchants LLC's letters of demand for adequate assurance of performance.

?	Mike Robison is drafting responses to Phillips Petroleum Company (2 - November Propane l/c demands) as well as to Continental Resources, Inc. (December crude deliveries).

The letters will be e-mailed to you for review.

Regards,
tm


I just told kathy to send an email tomy direct reports.  I will resend to you
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Thanks.  Mark

	"Hibbert, Ann (CPS)" <Ann_hibbert@itc.co.harris.tx.us>
	10/23/2000 12:35 PM

		 To: "'mark.e.haedicke@enron.com'" <mark.e.haedicke@enron.com>
		 cc:
		 Subject:

Mark, I need the info NLT Wed. 10/25.  We are in the middle of the budget
process and I will be putting the Bear requests in to my budget.  Ann

Ann D. Hibbert, Director of Administration
2525 Murworth, Houston, Tx. 77054-1618
ph 713/394-4063           fax 713/394-4150


Dear Randy,  I'm Washington Bureau Chief Peter Cook filling in for Jay Rickerts.   In Washington, we'll continue to examine the major energy issues expected to arise during the New Year.  We'll take a look at what Congress will do with comprehensive energy and electricity legislation.  Our Washington bureau will also follow the FERC and its push for regional transmission organizations and wholesale competition.   These are some of the issues we'll look at as 2002 begins.   On Wednesday, energy consultant and former Assistant Secretary of Energy during the Clinton Administration Robert Gee will join us in the Washington bureau.  He'll give us his take on the U.S. relationship with OPEC and we'll get his assessment on the start of retail competition in Texas.  Gee will join us during the noon ET newscast on Wednesday.   The big switch is coming to Houston - On Wednesday we'll bring you a report on deregulation starting in Texas on January 1.  The Houston bureau will have details on how the power grid reacted to the switch, and get an update from retail electricity providers.     Also from Houston, John S. Herold, Inc. CEO Arthur Smith says upcoming earnings releases may hold some unwanted surprises. He'll join us from Houston on Wednesday to discuss his company's research report and what we can look forward to in 2002.  Catch these reports from the Houston bureau on Wednesday.       Closing Prices for Monday, Dec. 31, 2001    Crude: $19.84/bbl -$0.57   Unleaded: $0.5725/gallon -$0.0157   Heating Oil: $0.5507/gallon -$0.0158   Gas: $2.570/mmBtu -$0.204   Scheduling Note: We're dark on New Year's Day.  We'll see you Wednesday at 9:00 a.m. ET.  Thanks for making this a great first year at EnergyNewsLive - Have a Happy New Year!     Keep in mind things are subject to change at a moment's notice. Occasionally guests have to reschedule or change time slots.  We'll continue to do our best to keep you updated on future interviews and events.     Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

	 	Peter Cook, EnergyNewsLive.com Washington Bureau Chief  View today's Energy Wrap Video Windows Media Player: 56K  | 100K  | 300K  Real Player: 56K  | 100K  | 300K  (Requires Windows Media Player or Real Player )   Experience all that Williams Energy News Live has to offer!   If you are receiving this letter for the first time and wish to continue, subscribe now    To stop receiving this letter, unsubscribe now    If you are having trouble receiving this e-mail, please let us know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Comments? Suggestions? Let us  know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Copyright 2001 Williams Energy News Live, LLC. All  Rights Reserved.


======================== THE MOTLEY FOOL ========================
                   B R E A K F A S T   N E W S
                      Wednesday, May 30, 2001
benjamin.rogers@enron.com
=================================================================

IN THIS ISSUE
---------------------
- TOP STORY: Alcatel, Lucent Call It Off
  http://www.fool.com/m.asp?i=417136

- NEWS TO GO: Sun Microsystems, Coke, and Tyco
  http://www.fool.com/m.asp?i=417137

- HOT TOPICS: Microsoft, AMD, and IRA/401(k) limits
  http://www.fool.com/m.asp?i=417138

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-----------------------------------------------------------------
TOP STORY
-----------------------------------------------------------------

ALCATEL, LUCENT CALL IT OFF
In a short joint statement that nevertheless said it all,
Alcatel (NYSE: ALA) and Lucent (NYSE: LU) said last night that
ongoing merger talks between the companies were terminated.

>>FULL STORY: http://www.fool.com/m.asp?i=417140

-----------------------------------------------------------------
NEWS TO GO
-----------------------------------------------------------------

Computer networking equipment maker Sun Microsystems (Nasdaq:
SUNW) lowered fiscal fourth-quarter (ending June 30) financial
forecasts, saying it expects to earn $0.02 to $0.04 per share,
missing First Call's $0.06 consensus estimate, as revenues come
in between $3.8 billion and $4 billion.

A U.S. district judge yesterday approved Coca-Cola's (NYSE: KO)
proposed $192.5 million settlement for a race discrimination
lawsuit filed by 2,200 black employees. Coca-Cola had denied the
charges in the lawsuit, which included discrimination in
promotion and compensation. The settlement, according to
Reuters, is the largest ever for a race discrimination case.

Diversified manufacturing company Tyco International (NYSE: TYC)
agreed to buy medical products company C.R. Bard (NYSE: BCR) in
a $3.2 billion stock swap expected to value the company at $60
per share, or about a 30% premium to last night's close. C.R.
Bard's revenue in 2000 was $1.1 billion and makes equipment used
in vascular, urological, and oncological diagnosis, among other products.

Consumer electronics retailer Radio Shack (NYSE: RSH) announced
that slower-than-expected Q2 sales will result in EPS from $0.25
to $0.27, missing Wall Street's $0.34 consensus projection and
last year's $0.38. Same-store sales look to come in flat
year-over-year.

Internet career search giant TMP Worldwide (Nasdaq: TMPW), which
operates the Monster.com site, said it bought the FlipDog.com
job site from WhizBang! Labs on May 25. Terms of the deal were
not disclosed.

Athletic footwear company K-Swiss (Nasdaq: KSWS) formed a joint
venture with Rugged Shark to develop and market a line of
National Geographic-inspired outdoor and casual footwear.
K-Swiss expects it'll cost $1 million to get the line up and
ready for a fall 2002 launch. K-Swiss will own 75% of the
venture.

-----------------------------------------------------------------
HOT TOPICS
-----------------------------------------------------------------

MICROSOFT GOES AOL HUNTING
Microsoft has its sights on AOL's customers. Be vewy vewy quiet.
http://www.fool.com/m.asp?i=417141

ANALYZING AMD
"So if the market does start to head south, I think AMD has
quite a bit farther to fall than Intel." Fools on the AMD board
debate.
http://www.fool.com/m.asp?i=417142

NEW LIMITS ON IRAS AND 401(K)S
Living Below Your Means Fools discuss how things have changed.
http://www.fool.com/m.asp?i=417143

>>MORE HOT TOPICS: http://www.fool.com/m.asp?i=417144

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material is for personal use only. Republication and
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MsgId: msg-12530-2001-05-30_9-15-23-333236_2_Plain_MessageAddress.msg-09:21:56(5-30-2001)
X-Version: mailer-sender-master,v 1.84
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Message-Recipient: benjamin.rogers@enron.com


Here's Calpine's announcement, fyi...

PG&E Bankruptcy Will Not Affect Calpine's Commitment to California Power
Market
/FROM PR NEWSWIRE SAN FRANCISCO  415-543-7800/

TO BUSINESS AND ENERGY EDITORS:

PG&E Bankruptcy Will Not Affect Calpine's Commitment to California

Power Market

SAN JOSE, Calif., April 9 /PRNewswire/ -- In response to Pacific Gas and
Electric Company's (PG&E) April 6th Chapter 11 filing, Calpine Corporation
(NYSE: CPN), the San Jose, Calif.-based independent power company, stated it
is confident that PG&E, through a successful reorganization, will be able to
pay Calpine's Qualifying Facility (QF) subsidiaries for all past due power
sales, in addition to electricity deliveries made on a going-forward basis.

CALPINE'S QF SUBSIDIARIES SELL POWER TO PG&E UNDER THE TERMS OF LONG-TERM
QF CONTRACTS AT ELEVEN FACILITIES, REPRESENTING NEARLY 600 MEGAWATTS OF
ELECTRICITY FOR NORTHERN CALIFORNIA POWER CUSTOMERS.  AS OF MARCH 31, 2001,
CALPINE HAS RECORDED APPROXIMATELY $267 MILLION IN ACCOUNTS RECEIVABLE WITH
PG&E, PLUS A $68 MILLION NOTE RECEIVABLE NOT YET DUE AND PAYABLE.  THE
COMPANY'S REMAINING CALIFORNIA OPERATIONS, TOTALING APPROXIMATELY 700
MEGAWATTS OF CAPACITY, PROVIDE ELECTRICITY TO MUNICIPALITIES AND OTHER
CREDITWORTHY THIRD PARTIES.

CALPINE'S QF FACILITIES ARE PART OF A 9,000-MEGAWATT QF SUPPLY THAT
PROVIDE CALIFORNIA CUSTOMERS WITH A LONG-TERM SOURCE OF ELECTRICITY AT PRICES
SIGNIFICANTLY BELOW CURRENT WHOLESALE PRICES.  THIS CRITICAL POWER SUPPLY
REPRESENTS APPROXIMATELY 33 PERCENT OF THE STATE'S POWER DEMAND.  WITHOUT
THESE CONTRACTS IN PLACE FOR THIS SUMMER, CALIFORNIA FACES THE PROSPECT OF
MORE BLACKOUTS AND HUNDREDS OF MILLIONS OF DOLLARS IN INCREASED COSTS.

FOR THESE QF CONTRACTS TO CONTINUE, PG&E MUST ASSUME THE CONTRACTS IN THE
BANKRUPTCY PROCEEDINGS.  IN ORDER TO ASSUME THESE CONTRACTS, PG&E WILL BE
REQUIRED TO CURE ALL OUTSTANDING DEFAULTS, INCLUDING PAYING ALL PAST DUE
AMOUNTS.  IF PG&E FAILS TO ASSUME THE CONTRACTS, CALPINE'S QF SUBSIDIARIES
WILL BE ABLE TO SELL POWER ON THE OPEN MARKET AND SEEK DAMAGES FROM PG&E FOR
BREACH OF CONTRACT THROUGH THE BANKRUPTCY CLAIMS RESOLUTION PROCESS.

"As the state's leading developer of new electric generating facilities,
Calpine remains committed to providing innovative solutions for California's


Amr - The following is a brief summary of my current workload, and the time commitment I have for next week.

Currently My four largest customers are:
1. Amr Ibrahim - %45
	I am currently involved in several projects such as:
		A) Member and support to TIRS team - currently reviewing and commenting on new Philippine legislation
		B) ISO Database - Continue to research New England and ERCOT ISOs and provide input to database
		C) Report URM positions
		D) GA representative to RAC meetings
		E) Serve on an "as needed basis"

2. Jim Steffes - %40
	My primary role for Jim is to provide Updates on all GA activity on a monthly, or available on request.
		A) Monthly ENA/EES/GA reports
		B) Develop and update new project tracking program for all of GA (This is currently my most timely project, as we would like to have it in place by the 			beginning of November.)
		C) Serve on an "as needed basis" when certain situations arise.

3. Rob Bradley -%10
	I am currently involved in several long-term projects, in which we would like to see completed over the course of the next several months
		A) Enron Chronology
		B) Oral History Project

4. Rick Shapiro - %5
	Available on request
		A) Compile Energy Information Packet for interested parties outside of Enron.

Amr - I will primarily be focused on updating the Project Tracking database in the next few days, as well as compiling Jim's monthly report.  My goal is to have this completed by the end of Tuesday, and to resume work on ISO/and Philippine projects on Wednesday.

Thanks,
Bryan


Do you want to go to dinner on Friday with us and some friends.  Lil' Papasitos on Kirby.


Hey, when will the announcement be made?


Start Date: 4/28/01; HourAhead hour: 13;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042813.txt


-------- Original Message --------
Subject: RE: GRACO Contact Form
Date: Wed, 5 May 1999 14:05:43 -0400
From: GRACO Customer Service <gracocsrep@gracocorp.com>
To: "'jimboman@bigfoot.com'" <jimboman@bigfoot.com>

James, Graco is sorry for the inconvenience. I ordered you a new diaper
bag,
the part you described is not replaceable so a new diaper bag is on
order
for you.
Please include all correspondence when responding.
Thank You,
Jody
Graco Customer Service

> ----------
> From:  jimboman@bigfoot.com[SMTP:jimboman@bigfoot.com]
> Sent:  Monday, May 03, 1999 12:08 AM
> To:  consumerservices@gracocorp.com
> Cc:  rubbercc@eisnet.com
> Subject:  GRACO Contact Form
>
> Submitted on Monday, May 3, 1999 at 04:08:22 GMT.
>
> Name:          James Lokay
> E-mail:        jimboman@bigfoot.com
> Phone:         281-927-9360
> Address 1:     1114 Augusta Dr., No. 25
> Address 2:
> City:          Houston
> State:         TX
> Zip:           77057-2227
> Country:       US
> Product Code:  603BW
>
> Feedback:
> I don't know if that is the correct product code.  The product I am
> writing about is a soft, backpack style diaper bag from the "Sarah"
> collection in a blackwatch plaid pattern.    We own many Graco product and
> have had trouble only with this one so far.  This is a fairly new product
> but the vinyl that the velcro patch on the top flap is attached to has
> torn away from the flap.  I am hoping that Graco supports this product and
> will be able to correct the problem.    Please let me know what I need to
> do to pursue a remedy for this.  I look forward to your reply.    Thank
> you,  Jim Lokay
>


David,

FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
11:31 AM ---------------------------

vkamins@enron.com@ms1.lga2.nytimes.com on 03/19/2001 09:35:38 AM
Please respond to vkamins@enron.com
Sent by: articles-email@ms1.lga2.nytimes.com
To: vkamins@enron.com
cc:
Subject: NYTimes.com Article: Companies Turn to Grades, and Employees Go to
Court

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Companies Turn to Grades, and Employees Go to Court

By REED ABELSON

An increasingly popular technique for evaluating employees is
prompting lawsuits charging discrimination at three big companies.

 At issue is the ranking of managers, professionals and sometimes
lower-level employees from best to worst, or grading them on a bell
curve, and then using that ranking to help determine pay and
sometimes whether to fire someone.

 In their suits, all filed over the last year or so, employees at
Microsoft, Ford Motor and Conoco say the rating systems are unfair
because they favor some groups of employees over others: white
males over blacks and women, younger managers over older ones and
foreign citizens over Americans.

 A growing number of companies are turning to grading systems, also
known as forced rankings or distributions, as a way of making sure
managers evaluate employees honestly and make clearer distinctions
among them. At companies that do not compare employees with one
another this way, nearly every employee can come away feeling above
average, like the children of Lake Wobegon. But under the grading
system, managers are forced to identify some people as low
performers.

 At General Electric, for example, supervisors identify the top 20
percent and bottom 10 percent of their managerial and professional
employees every year. The bottom 10 percent are not likely to stay.

 As John F. Welch Jr., General Electric's chief executive, wrote
last month to shareholders, "A company that bets its future on its
people must remove that lower 10 percent, and keep removing it
every year * always raising the bar of performance and increasing
the quality of its leadership."

 Ranking or grading employees is also common at technology
companies like Cisco Systems and Hewlett- Packard. But recently the
concept has been catching on more broadly, according to management
consultants. One reason is that as the economy slows, companies
often lay off employees. Cisco, for example, announced earlier this
month that it would let go as many as 5,000 workers * and would use
grading as one way to identify people to lay off.

 "Companies are playing their version of `Survivor,' " said David
Thomas, a professor at the Harvard Business School.

 Another reason is that some companies are eager to copy Mr. Welch,
long viewed as one of the most successful managers in America.

 Defenders of these systems say anyone who gets a low grade is
likely to view the process as unfair. " `A' students love grades;
`F' students hate grades," said John Sullivan, a human resources
professor at San Francisco State University.

 But the techniques, which some employees label with terms like
"rank and yank," have come under sharp criticism. While they appear
to offer an objective way to judge employees, they can be
vulnerable to bias, Mr. Thomas said. Managers may stereotype
employees when evaluating them on vague criteria like career
potential * deciding that older workers, for example, may have a
harder time keeping up with new technology.

 In some cases managers can view these systems "as a tool to be
used to weed out the ones you don't want," said Thomas S. McLeod, a
lawyer in Canton, Mich., who represents employees suing Ford in
another case.

 Critics of the system also argue that companies should not apply a
bell curve, in which a small number of employees get the highest
and lowest rankings and a much larger number are grouped in the
middle. The bell curve model assumes a normal distribution among a
very large group of random individuals, not small groups.

 What is more, across a company, people who belong to a
particularly talented unit will suffer if a certain number of them
must be given poorer grades than they would get in another unit.

 "You end up with dysfunctional results," said Edward E. Lawler
III, a business professor at the University of Southern California.

 Some lawsuits contend that Microsoft's grading systems are
discriminatory. One, filed last October, seeks class-action status
on behalf of blacks and women. The suit states that the rating
system "permits managers, who are predominantly white males, to
rate employees based upon their own biases rather than based upon
merit."

 According to the lawsuit, employees are rated on a five-point
scale, with only a certain percentage permitted to receive each
score. Employees doing the same job in the same unit are also given
a "stack ranking," from most to least valuable. Managers decide
those rankings largely using what are called "lifeboat
discussions," where they choose which employees they would want
with them if stuck in a lifeboat. Managers had no other clear
criteria, according to Christine Webber, a lawyer at Cohen,
Milstein, Hausfeld & Toll who is representing the employees.

 Grading is highly subjective at Microsoft, according to Peter M.
Browne, a former executive who is also suing the company, charging
discrimination. Mr. Browne, who is black, said managers were forced
to use a curve in evaluating even small groups. He said he had to
rate a group of five on a curve, for example, in deciding which
ones would not receive stock options.

 "You weren't told anything * just meet the curve," Mr. Browne
said.

 He says managers ended up favoring people with whom they
socialized. "People gravitate to people who are like them, and the
system just forces that," he said.

 Microsoft defends its system as fair and helpful. "We want to give
the highest compensation to the very top performers," said Deborah
Willingham, senior vice president for human resources, adding that
the system included checks and balances to ensure fair treatment.
Employees can appeal their ratings, for example, and are largely
responsible for developing the criteria by which they are
evaluated.

 Ms. Willingham also said the company did not ask its managers to
give a fixed percentage of their employees any given score. "We
don't force that curve to look any certain way," she said.

 Microsoft has no formal "stack rank" policy, she said. And when
managers do have lifeboat discussions, they are a tool to consider
which employees they would want to keep if they were starting
again.

 While the company would not comment on the lawsuits, Microsoft
"expressly prohibits discrimination," Ms. Willingham said.

 Similar criticisms emerged in a lawsuit brought last month against
Ford. It argues that the company's new grading system discriminates
against older workers. The company, which adopted what it calls its
performance management process a year ago, gives its 18,000
managers A, B or C grades. Last year, the company awarded 10
percent an A, 80 percent a B and 10 percent a C.

 Ford also faces a second lawsuit asserting that it unfairly
discriminated against older white males in its grading.It would not
comment on the litigation but defended its use of grades. "We
believe the system is fair and nondiscriminatory," a company
spokeswoman said. "We are in a very competitive industry, and we
need all of our employees to be the best they can be."

 At Conoco, employees contend that the company discriminated
against United States citizens and older workers when it laid off a
dozen geophysicists and other scientists in 1999 based on a ranking
from one to four, according to a lawsuit filed last year. The
majority of those let go were Americans, according to the suit, as
opposed to British, Norwegian and Canadian professionals.

 "The rating system was selectively enforced, and there were
instances of manipulation," said John Zavitsanos, the lawyer
representing the workers. Even though some were given higher
ratings on earlier rankings, they were eventually given the lowest
possible rating of four.

 Conoco, based in Houston, has extensive operations in the North
Sea, and many of the senior managers at the division in question
are British, according to Mr. Zavitsanos.

 While Conoco said it could not comment on the litigation, it said
its evaluations were based on several factors, including
performance, skills and expertise. The company said ratings often
changed as more information was collected and people were evaluated
in larger groups. Conoco company also denied that decisions were
based on anything other than individual capabilities.

 Companies "do need something in making pay decisions, downsizing
decisions," said Jim Kochanski, a consultant with Nextera
Enterprises. The problem is that companies may not take enough care
in deciding how people should be ranked. "They can get it very
wrong," he said.

http://www.nytimes.com/2001/03/19/business/19GRAD.html?ex=986016138&ei=1&en=e2
02a0228246c717

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