-----Original Message-----
From: 	"Frank Ermis" <fermis@hotmail.com>@ENRON [mailto:IMCEANOTES-+22Frank+20Ermis+22+20+3Cfermis+40hotmail+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, May 24, 2001 11:44 AM
To:	Sanchez, Monique
Subject:	Fwd: FW: spoke too soon

>From: Trevor Vaughan <TVaughan@prebon.com>
>To: "'fermis@hotmail.com'" <fermis@hotmail.com>
>Subject: FW: spoke too soon
>Date: Thu, 24 May 2001 11:24:13 -0400
>
>this is an email form owen west, he' s a basis trader form j.aron who's
>scaling everst
>we've been getting weekly update that were all pretty honky-dory till this
>one
>this email was sent fom 8000 meters yesterday
>
> > -----Original Message-----
> > From:	Donald Tencellent Jr.
> > Sent:	Thursday, May 24, 2001 9:07 AM
> > To:	Trevor Vaughan
> > Subject:	FW: spoke too soon
> >
> >
> >
> > ----------
> > From: 	Nagle, Rita[SMTP:rita.nagle@gs.com]
> > Sent: 	Thursday, May 24, 2001 8:47 AM
> > To: 	Donald Tencellent Jr.
> > Subject: 	FW: spoke too soon
> >
> >
> >
> > -----Original Message-----
> > From: himex [mailto:expedition@everestbasecamp.com]
> > Sent: Thursday, May 24, 2001 5:03 AM
> > To: patrickw@Youthstream.com; gamacorp@aol.com; owenandsuz@yahoo.com;
> > richard.ruzika@gs.com; rita.nagle@gs.com; njones@thecarlylegroup.com;
> > jeff.reznick@gs.com; dmandel@sjga.com
> > Subject: spoke too soon
> >
> >
> > Unfortunately i am too late to halt my last email. Perspective comes
> > quickly
> > at 8000 meters and today, thinking back on the ascent and all the rock
> > climbing moves on that ridge that might have left me dead given my
> > perpetually clumsy condition (wrsened by AMS), I am happy to be alive.
>The
> > weather is beautiful but the mountain has bitten back and many are dead
> > and
> > dying, including friends of mine from my own team who summitted too late
> > for
> > the north side. By the time i am allowed to send this, the media will
>have
> > already begun reporting on this tragedy. I was slowed by my vomiting and
> > had
> > i continued, i likely would have been trudging up with this group.
> >
> > In my last email there is black humor concerning one of my friends:
> > ensuring
> > his safety so suz and i could take a vacation. He is stuck on the ridge
> > now,
> > dying, and will likely be dead by morning. One of our strongest guides
>is
> > with him and he, too, will probably die. This guy is super strong but
>the
> > altitude has snatched him. We're in shock here and can do nothing but
> > stare
> > into telescopes and pray that they continue the bleak fight. I have been
> > assigned NOK duty and have made two very tough phone calls to young
>wives.
> > A
> > member of the Aussie expedition died suddenly at Camp 2 this morning, 3
> > Russians are stuck with our men on the ridge, and a spaniard is flirting
> > with death right now after a bout with cerebral edema, despite Chris
> > Warner's valiant effort to get him down from the ridge last night. When
>i
> > think of this mountain now, i think only of death.
> >
> > Russ is quite experienced in hig-altitude rescues but this is the first
> > time
> > he has unleashed the team for our own. It is a totaly professional
> > logistical operation (locating and moving oxygen and regulataors back up
> > into the jet stream), relying heavily on the sherps who are just
> > incredibly
> > strong. Many stories of heroism over last 24 hours and many to come. The
> > guide and the client spent the night on the ridge (8650 meters),
> > incoherent
> > and immobile, freezing, but they were saved when Asmus turned around
>from
> > a
> > desperate stumble home, climbed the second step (brutal) for the second
> > time
> > in 10 hours, and delivered oxygen to the desperate pair just before
>dark.
> > Asmus tried to roust them and then had to dash for lower altitudes,
> > reaching
> > top camp (8300 meters...still incredibly dangerous) at 11:30 pm. It was
>a
> > relatively warm night (just below)and both client and guide were seen
> > moving
> > space blankets this morning through the telescope. Alive. But they could
> > not
> > stand. One could not see. No comms. Bivouacs above 8000 meters are epics
> > and
> > you are sure to read about this.
> >
> > Coordinating therescue from the Col, Russ then rousted all available
> > bodies
> > and they started up the ridge for the second time in as many days, Purba
> > and
> > Lopsang leading the way back into the death zone, humping oxygen. The
> > American expedition came upont the bodies this morning and have given up
> > their summit attempt (remember, they failed last week and also failed in
> > '99
> > so this is a huge sacrifice) to make the rescue. It looked bleak this
> > morning but after some injections our teammates began to move, carried
>by
> > the strong Americans. As i type, they have been moving at a snail's pace
> > and
> > the Americans will soon have to leave them to save themselves.We hope
>our
> > sherps are there by then and can take over for what is turning out to be
> > an
> > absolutely epic and incredibly dangerous rescue. Remember, that ridge is
> > 14
> > inches across for stretches, dropping 10,000 feet on either side. When i
> > gazed down 2 nights ago, it was truly like staring out of the window of
>a
> > plane, so steep was the drop. The sherps are going to have to be
>supermen.
> >
> > From the ridge and high camp, chris and asmus (they've been wasting
>there
> > for over 36 hours now) have been gathering oxygen for the 2000 meter
> > descent
> > to ABC. They are sucking some themselves to ensure we don't have a
> > double-rescue. I'm feeling better and i may be going up to the col to
>help
> > with the rescue, assuming we get these guys off the ridge alive. Too
>high
> > for a helo on this side so we'll have to platoon them down asap. Other
> > members who summitted earlier are still up too high, too slow descending
> > from 'safe' camps, and i may help them down as well. So i will not be
>back
> > by mem day--we have to get these people down.
> >
> > The drama unfolded yesterday as i stared through a spotting scope,
>sulking
> > and making occasional trips to the waste moraine. The client was slower
> > and
> > slower and then he just stopped on the summit snow field. I thought: uh
> > oh.
> > Russ had warned them hours before to turn but summit fever had taken
>hold
> > and the guide was pursuaded by the client. Soon russ was on the radio
> > screaming at the guide to drag the client down, but the hour grew late
>and
> > suddenly a successful summit evolved into a death trap, both men
>immobile
> > and nearly incoherent, the guide kicking and draggin the client, to no
> > avail. Asmus was with them and performed valiantly, as i mentioned, but
>no
> > one was in a position to help. At that height, every second counts and
>the
> > other teams rushed past on their way to safety. When you rush into a
> > burning
> > building you can't linger, especially if your physical performance is
> > literally cut in half.
> >
> > I am praying for these two--and the russians--and  it's hard to think f
> > anything else as they progress home, mumbling, step by step. I have
> > messages
> > from their wives but they are unable to [process spoken language at this
> > point. Even if they get down, i wonder what the results will be. It's
> > really
> > sad. I am sure they are also severely dehydrated--i'll explain the
>process
> > when i get home but siffice to say you literally can't boil water fast
> > enough to keepup with needs of body at altitude. My heartbeat at top
>camp
> > was 180 when i was 'resting' in my sleeping bag before the attempt. My
> > tongue split down the middle even though i was trying to keep the fluids
> > coming at a rate of a liter an hour, doing nothing.
> >
> > I feel lucky today. Very lucky. When i think of my own descent, alone,
> > throwing up along the way yesterday, i realize just how razor-thin this
> > whole thing is. There were times on the ridge where i was hanging by my
> > jumar on a supposedly new rope, ony to reach the anchor point to find a
> > ten-year-old knot, totally fried by the uv rays. Other times i stepped
>in
> > snow footprints and slipped, sliding down on my stomach until the rope
> > jerked taut. Too many ways to die here.The aussie who gave me his water
>in
> > the bowl may have prevented another casualty. Who's to say? Problem here
> > is
> > that, unlike the events we're used to when we sprint to the finish line
> > (we
> > used to say in crew that the perfect race was when you passsed out at
>the
> > finish), you have to reserve a certain amount to get the hell down the
> > mountain. And it's so hard to do that. Is a quarter tank enough? Half?
>Or
> > do
> > you need even more because, in truth, you are dying from the moment you
> > leave camp 3 (not even top camp).
> >
> > I will pass this info only when the word is out--sorry--but will keep
>you
> > updated from there once i talk ro russ. It's hard watching friends die
>but
> > we're helpless down here.
> >

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


---------------------- Forwarded by Kevin Ruscitti/HOU/ECT on 03/05/2000
05:44 PM ---------------------------

Todd Johnson <Todd.Johnson.B@bayer.com> on 03/01/2000 12:33:50 PM
To: Kevin Ruscitti/HOU/ECT@ECT
cc:
Subject: Photos of the 2022 John Wooden Award Winner

Kev,

Check this good looking guy out!

TJ

 - LukewMom.JPG
 - Lukesnewhat.JPG
 - Lukescradlerocker.JPG


Effective 9/15/00 ENA sold NIPSCO 500,000dth storage see deal #401601.
Adjusted the deal # 268093 & #268090 on the CGAS storage worksheet.
Please make the necessary changes in TAGG

Tks
Chris


i am just kidding.  i wouldn't ever pay for it.  anyway i am going with
people from work so it woulnd't look to good if i was bringing hookers into
my room.


Master/Demand Volume  Start  End  Offer Rec  Delivery
3.5116   10000  6/1/2000 9/30/2000 19800 Telescoped Lilco
3.5115   10000  6/1/2000 9/30/2000 19799 Telescoped Bug
3.4708   20000  5/1/2000 10/31/2000 19328 Telescoped Bug

3.5049   10000  5/3/2000 9/30/2000 19486 St 65  Con Ed
3.4358   15000  4/1/2000 10/31/2000 18972 St 65  Con Ed
3.6840   10000  9/1/2000 9/30/2000 21543 St 65  Con Ed
3.6746   5000  9/1/2000 9/30/2000 21442 St 62  Con Ed

3.6821   3000  9/1/2000 9/30/2000 21517 St 65  Non New York

3.4271   2174  4/1/2000 10/31/2000 18944 Utos  St 65

3.5318   6500  6/1/2000 10/31/2000 19885   Leidy  PSE&G
3.4522   10000  5/1/2000 10/31/2000 19123 Leidy  PSE&G

---------------------- Forwarded by Chris Germany/HOU/ECT on 08/30/2000 12:23
PM ---------------------------

Chris Germany
08/21/2000 11:08 AM
To: Beverly Beaty/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT, Alvin
Thompson/Corp/Enron@Enron
cc:
Subject: Re: Terminating Transco contracts

Master/Demand Volume  Start  End  Offer Rec  Delivery
3.5318-Demand  6500  6/1/2000 10/31/2000 19885   Leidy  PSE&G
3.4522-Demand  10000  5/1/2000 10/31/2000 19123 Leidy  PSE&G

2.4539-Demand  ????  6/1/1998 5/31/2008 10382 I need to check on this one.
This has to be a retail contract that we are not using.

3.5116-Demand  10000  6/1/2000 9/30/2000 19800 Telescoped Lilco
3.5115-Demand  10000  6/1/2000 9/30/2000 19799 Telescoped Bug
3.5049-Demand  10000  5/3/2000 9/30/2000 19486 St 65  Con Ed
3.4708-Demand  20000  5/1/2000 10/31/2000 19328 Telescoped Bug
3.4358-Demand  15000  4/1/2000 10/31/2000 18972 St 65  Con Ed
3.4271-Demand  2174  4/1/2000 10/31/2000 18944 Utos  St 65

And all contracts should now have an East and a Market East deal.

Beverly Beaty
08/10/2000 02:03 PM
To: Chris Germany/HOU/ECT@ECT
cc: Victoria Versen/HOU/ECT@ECT, Alvin Thompson/Corp/Enron@Enron, Victor
Lamadrid/HOU/ECT@ECT
Subject: Re: Terminating Transco contracts

My only comment to this is to please make sure the contracts have IMNE and
IMME as desks since most of them will be market area deliveries.  They are
already in Unify and the multiple desks may be all we need to path them.  The
Transco schedulers are also going to have to know the receipt and delivery
points that are primary for all these contracts with Transco changes among
other things.

Chris Germany
08/10/2000 12:24 PM
To: Victoria Versen/HOU/ECT@ECT, Alvin Thompson/Corp/Enron@Enron, Marlene
Hilliard/HOU/ECT@ect
cc: Beverly Beaty/HOU/ECT@ECT, Judy Townsend/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Brenda H Fletcher/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT
Subject: Terminating Transco contracts

As most of us are aware, Trasnco will be terminating all master commodity
contracts effective 9/1/2000.  I don't think we should make any changes to
the master contracts in our system until after the 1st.  However, we will
need start adding the demand contracts to the East and Market East in
Sitara.  Following is a list of master contracts and the associated demand
contracts effective 9/1/2000.

Master/Demand Rate Sched Start  End  Offer
2.2173 - Master  FTAR

2.7055 - Master  FTCHR

3.4367-Master  FTFR
3.5318-Demand  FTFR  6/1/2000 10/31/200 19885  done
3.4522-Demand  FTFR  5/1/2000 10/31/2000 19123 done

2.1439-Master  FTLR

2.2390-Master  FTLR
2.4539-Demand  FTLR  6/1/1998 5/31/2008 10382

.7537-Master  FTR
3.5116-Demand  FTR  6/1/2000 9/30/2000 19800 done
3.5115-Demand  FTR  6/1/2000 9/30/2000 19799 done
3.5049-Demand  FTR  5/3/2000 9/30/2000 19486 done
3.4708-Demand  FTR  5/1/2000 10/31/2000 19328 done
3.4358-Demand  FTR  4/1/2000 10/31/2000 18972 done
3.4271-Demand  FTR  4/1/2000 10/31/2000 18944 done

1.3861-Master  FTR

2.3496-Master  FTR

2.7002-Master  FTR

3.3433-Master  FTSR

1.0828-Master  SE94R

1.2786-Master  SE95R


The following expense report is ready for approval:

Employee Name: Cynthia Mann
Status last changed by:  Automated Administrator
Expense Report Name: 6/5/01 Report
Report Total: $875.65
Amount Due Employee: $875.65

To approve this expense report, click on the following link for Concur
Expense.
http://xms.enron.com


unfortunately I am busy as usual.  Looking forward to the long weekend to get
some much needed rest.  It seems like it is always something up here.

Any plans for easter?

How are things with you?  Baby doing good?  Take care.
PL

From: Cecilia Rodriguez/ENRON@enronXgate on 04/10/2001 07:55 AM
To: Phillip M Love/HOU/ECT@ECT
cc:
Subject:

Hey you,
Just wanted to say hi and see how it was
going.  Busy I'm sure!!!  Anyway, I'll talk
to you later.
C


FYI.  Please add to the list.

Jim
----- Forwarded by James D Steffes/NA/Enron on 01/12/2001 05:10 PM -----

	Phillip K Allen@ECT
	01/12/2001 01:18 PM

		 To: James D Steffes/NA/Enron@Enron
		 cc:
		 Subject:

Jim,

Here are the key gas contacts.

   Work   Home   Cell

Phillip Allen  X37041   713-463-8626  713-410-4679

Mike Grigsby  X37031   713-780-1022  713-408-6256

Keith Holst  X37069   713-667-5889  713-502-9402

Please call me with any significant developments.

Phillip


-----Original Message-----
From: Damslora, Andre J.
Sent: Thursday, July 19, 2001 3:07 AM
To: Kaminski, Vince J
Subject: London visit

Hello, Vince

It was a great pleasure to meet you in London.  After our lunch I had interesting discussions with the research group and continental trading group.  How was the response on your lecture/speech?

You mentioned that you could send me an interesting book on derivatives.  I am really looking forward to dive into it.  If you have two copies we may have one for reference and one for in-depth study at home.

You also mentioned that Tom Halliburton or Pereira could give a hands-on course in SDDP.  As I said, I am very interested in such a course some time this year.

Thanks and regards,

Andr? Damslora


please pay robin $468 orig. from my book
---------------------- Forwarded by Scott Neal/HOU/ECT on 02/26/2001 04:52 PM
---------------------------

	From:  Robin Barbe                           02/26/2001 02:35 PM

To: Scott Neal/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT
cc: Alejandra Chavez/NA/Enron@ENRON
Subject: orgination

here are a couple of back to back deals that i would like to have orgination
granted on:

sitara  counterparty  buy/sell  volume  price
596488  conn.nat  sold  1200  6.04
595934  hydroquebec  buy  1200  5.9

618541  hydroquebec  buy  1000  6.05
618626  conn. nat  sell  1000  6.32

thanks

robin


Let me know what you think.

Cheers,

Michael


How important is this fight to us now (see attached article on ExIm)?
----- Forwarded by Steven J Kean/NA/Enron on 03/07/2001 10:41 AM -----

	Ann M Schmidt
	03/07/2001 08:19 AM

		 To: Ann M Schmidt/Corp/Enron@ENRON
		 cc: (bcc: Steven J Kean/NA/Enron)
		 Subject: Enron Mentions

Exporters Rush to Ex-Im Bank's Defense --- Lobby Campaign to Prevent Budget
Cuts Seeks Help Of 100,000 Small Firms
The Wall Street Journal, 03/07/01

Plots & Ploys
The Wall Street Journal, 03/07/01

Dutch Gas Competition Grows Despite Sluggish Reforms
Dow Jones Energy Service, 03/07/01

USA: Big U.S. exporters to fight Ex-Im Bank cuts - WSJ.
Reuters English News Service, 03/07/01

Major U.S. Exporters Rush to Export-Import Bank's Defense
Dow Jones Business News, 03/07/01

What's News
United States
The Globe and Mail, 03/07/01

Deal with state could take until 2002 to close
Associated Press Newswires, 03/06/01

Sierra Pacific CEO Doubts SEC OK Of Enron Unit Buy-Report
Dow Jones Energy Service, 03/06/01

Many Power Deals Announced by California Governor Still Not Final
Dow Jones Business News, 03/06/01

US Natural Gas Prices Fall As Demand Slips In Most Areas
Dow Jones Energy Service, 03/06/01

Economy
Exporters Rush to Ex-Im Bank's Defense --- Lobby Campaign to Prevent Budget
Cuts Seeks Help Of 100,000 Small Firms
By Michael M. Phillips and Laura Heinauer
Staff Reporters of The Wall Street Journal

03/07/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- Angry and confused that a Republican administration has
targeted one of their favorite programs for big cuts, America's largest
exporters are appealing for help from lawmakers.
Boeing Co., Caterpillar Inc., Enron Corp., Halliburton Co. and others are
launching an aggressive lobbying campaign on Capitol Hill to protect the
Export-Import Bank from budget reductions; the White House labels the Ex-Im
Bank as corporate welfare.
"The administration has fired its shot, and now we're firing ours," said
Edmund B. Rice, president of the Coalition for Employment Through Exports, an
industry group that is leading the effort.
Since they got wind of the proposed cuts a few weeks ago, business lobbyists
have been trying to rally sympathetic lawmakers. And executives at Boeing,
Caterpillar and other big companies plan to contact some 100,000 smaller
suppliers that benefit indirectly from the $12.6 billion of export loans,
guarantees and insurance that Ex-Im Bank provided in the last fiscal year.
Those small companies, the executives hope, will create a groundswell of
support in Congress for the Ex-Im Bank.
"Companies large and small who have similar interests here are banding
together to provide an educational effort so people understand the impact of
this," said Chris Hansen, Boeing senior vice president for government
relations.
Corporate lobbyists also have dug up a speech that Vice President Dick
Cheney, while chief executive of Halliburton, gave in 1997 praising the bank
and scoffing at those who consider it a giveaway to big business. They plan
to pass Mr. Cheney's comments to influential members of Congress this week.
"We'll be circulating them very broadly," Mr. Rice said.
A spokeswoman for Mr. Cheney had no immediate comment.
Ex-Im Bank officials aren't talking publicly, avoiding the appearance that
they are battling the White House to overturn the proposed 25% cut in the
bank's $865 million operating budget for the current fiscal year, which ends
Sept. 30. But an Ex-Im official said the topic has come up in conversations
between key lawmakers and Ex-Im Bank Chairman James A. Harmon, who is soon to
be succeeded by Mel Sembler, a Bush campaign fund-raiser and a
shopping-center developer.
At first, business lobbyists assumed administration budgeteers were just
looking for savings anywhere they could find it. Before President Bush
released his spending plan last week, companies appealed to Mitchell Daniels,
head of the White House budget office, in an attempt to keep the Ex-Im Bank
cuts out of the final proposal.
The Ex-Im Bank's corporate clients include some of the country's largest
political contributors. Boeing, the bank's largest user, received $3.3
billion of financing last year. The Seattle aerospace company and its
employees contributed $1.8 million to politicians and parties during the 2000
election cycle, 61% to Republicans, according to federal election data
assembled by the Center for Responsive Politics. Caterpillar, a Peoria, Ill.,
maker of engines and heavy equipment that secured seven Ex-Im Bank deals last
year, and its employees contributed more than $500,000 -- 96% to Republicans.
Company officials deny they wanted to leverage donations to try to secure
political support for the Ex-Im Bank.
Many lobbyists have come to the conclusion that administration officials --
those of a libertarian persuasion -- oppose Ex-Im Bank as a form of welfare
for corporations. Indeed, the White House budget plan criticized the bank's
operations as unjustified public subsidies for companies. "That makes it a
much more serious issue," Mr. Rice said. "We're concerned that the
administration seems to be turning its attention in this direction."
Barring intervention from Mr. Cheney, business groups now have largely given
up hope of convincing the White House to back down, planning instead to use
their muscle to convince Congress to restore the Ex-Im Bank's funding. Bank
officials and U.S. companies argue that, far from being a subsidy, the bank
simply allows American companies to compete with European and Japanese firms
that receive assistance from their own governments.
"In many markets in Asia and Africa, the bank is absolutely critical to our
ability to sell American-made products," said Bill Lane, Caterpillar's
Washington director for governmental affairs.
--- Corporate Beneficiaries

Top 10 recipients of Ex-Im Bank loans, guarantees and insurance for
fiscal year 2000, as measured by amount of financing, in millions

Boeing $3,335
Bechtel Group $1,075
Distributed Processing Systems $388
Willbros Group $387
United Technologies $334
Raytheon $156
General Electric $150
Halliburton $136
Enron $135
LSI Logic $120

Source: Ex-Im Bank

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

The Property Report
Plots & Ploys
By Peter Grant

03/07/2001
The Wall Street Journal
B10
(Copyright (c) 2001, Dow Jones & Company, Inc.)

[What's Brewing in the Real Estate Market]
No Problem, Houston
CENTURY DEVELOPMENT is about to announce plans to break ground on downtown
Houston's third major office development in less than three years. In another
sign of the strength of the city's energy sector, Century is finalizing a
headquarters deal with Reliant Resources Inc. to take more than two-thirds of
the project's 850,000 square feet, says Edwin Murphy, a Century senior vice
president.
Two other towers also are underway. In 1999, Hines began building a 1.2
million square-foot tower for Enron Corp. and late last year Crescent Real
Estate Equities broke ground on a 27-story tower that will be anchored by
Ernst & Young. These three projects are the first major downtown office
projects to get underway since 1986.
The surge is part of a renaissance of downtown Houston, where new sports
facilities, hotels, apartment buildings and restaurants have been mushrooming
in recent years. "The new amenities have kept people from leaving and enticed
people to come back," says Michael Hassler, of CB Richard Ellis.

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

Dutch Gas Competition Grows Despite Sluggish Reforms
By Germana Canzi
Of DOW JONES NEWSWIRES

03/07/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LONDON -(Dow Jones)- The Netherlands is emerging as an important testing
ground for E.U. gas liberalization, as new trading hubs for competitive,
short-term gas supplies from the U.K. and Norway emerge on the Belgian and
German borders.
However, much remains to be done. A group of large energy users and traders
is preparing to confront Gasunie Thursday in a hearing organized by the
regulator. The main issues of contention are the balancing system, which
Gasunie conducts on an hourly basis, the extent to which transport tariffs
are cost-focused and third-party access to storage facilities.
The emergence of competition in the Dutch gas sector is mostly due to the
initiative of new market entrants who, despite a difficult regulatory
environment, have managed to develop a market for short-term gas virtually
from scratch.
If liquidity improves in these emerging hubs, the Netherlands could become an
important transit country for freely tradeable gas supplies to other
countries in northwest Europe, as well as being an important market in its
own right. However, the difficulty of implementing transparent third-party
access systems in the Netherlands and in neighboring Germany casts a dark
cloud over recent progress in competition.
Since December, Enron Europe Ltd. (U.ENE), Duke Energy Corp. (DUK), E.On AG
(EON), RWE AG (G.RWE) and Electrabel SA (B.ELE) have been actively buying and
selling gas, sourced in the U.K., the Netherlands and Norway, in a number of
hubs between Emden in Germany and Emshaven and Oude Statenzijl in the
Netherlands.
David Gallagher, head of European gas trading at Enron in London, estimates
that at least one trade a day of around 100,000 therms for a quarterly
contract is done at the Oude Statenzijl hub, where the Gasunie pipeline
system connects to the network of Wingas GmbH.
An important element kick-starting short-term trading was the sale, in
December 2000, of a 2 billion cubic meter a year Norwegian gas supply
contract to five Dutch-based power generators.
Robert van der Hoeven, head of fuel procurement at Electrabel, the owner of
Dutch generator EPON, said his company uses most of the gas it imports from
Norway for its plants in the Netherlands and trades the rest on a short-term
basis in the Oude-Emden area. This pattern is common to the other Dutch-based
parties to that contract.
Trading in Dutch hubs received a further boost when Nederlandse Gasunie NV
(N.NEG) decided, after months of wrangling with regulator DTe, to lower its
transport tariffs by 6.5% from January 2001 and to unbundle its combined
commodity and service tariff, the so-called CSS system, from July 2001.
Gasunie now claims its pipeline system is fully open and transparent. To
prove this, it says it has lost 30% of its customers in the eligible market,
but that figure hasn't changed much since March 2000. Small wonder that
critics say the switching figure doesn't necessarily indicate an ideal system
of third-party access.
According to energy consultants The Brattle Group, around half of the gas
used by alternative suppliers goes through the 1 bcm/year Zebra pipeline from
Zelzate to Zeeland, which was built by Dutch utilities a few years ago
precisely because Gasunie refused to provide access on favorable terms.
Shippers have complained that the hourly system used by Gasunie to balance
the pipeline system raises the overall cost of shipping through its network
significantly. Gasunie imposes a balancing charge which effectively forces
shippers to pay for the extra gas brought into the system from storage sites,
in addition to the capacity and transmission price. Critics say Gasunie has
so far failed to unbundle these charges, although it agreed to do so in
January.
According to the Brattle Group, another controversial aspect of Gasunie's
tariff system is that it is based on theoretical costs of constructing new
pipelines rather than its actual costs.
The DTe is also considering ways of reforming the storage system to make it
competitive. BP PLC (U.BP) and Nederlandse Aardolie Maatschappij NV operate
storage facilities and lease capacity to Gasunie through long-term contracts.
The regulator is studying ways of allowing third parties access to storage
facilities. Gasunie has so far shown little sign of negotiating more
competitive tariffs with storage operators and passing on the benefits to
customers, critics say.
The growth of short-term trading in the Dutch gas market is also inevitably
linked to its potential as a transit country for gas coming from the
U.K.-Belgium gas interconnector and going towards the 82bcm-a-year German
market.
Market participants say liquidity at the Emden and Oude hubs has grown
considerably since E.On and RWE started trading there earlier this year.
However, the obstructive attitude of incumbents toward third-party access
there has meant that so far most gas traded in the Netherlands has remained
there.
-By Germana Canzi, Dow Jones Newswires; +44 20 7842 9283;
germana.canzi@dowjones.com

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

USA: Big U.S. exporters to fight Ex-Im Bank cuts - WSJ.

03/07/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, March 7 (Reuters) - America's largest exporters are launching an
aggressive lobbying campaign on Capitol Hill to protect the Export-Import
Bank from budget reductions, the Wall Street Journal reported in its online
edition on Wednesday.
The exporters, including Boeing Co. , Caterpillar Inc. , Enron Corp. ,
Halliburton Co. and others, are angry and confused that a Republican
administration has targeted one of their favourite programmes for big cuts,
the paper reported.
Ex-Im Bank officials were not talking publicly, avoiding the appearance that
they are battling the White House to overturn the proposed 25 percent cut in
the bank's $865 million operating budget for the current fiscal year, which
ends Sept 30, it said.
The White House labels the Ex-Im Bank as corporate welfare.
"The administration has fired its shot, and now we're firing ours," Edmund
Rice, president of the Coalition for Employment Through Exports, an industry
group that is leading the effort, was quoted as saying by the paper.
Executives at Boeing, Caterpillar and other big companies plan to contact
some 100,000 smaller suppliers who benefit indirectly from the $12.6 billion
of export loans, guarantees and insurance that Ex-Im Bank provided in the
last fiscal year, the paper said.
Those small companies, the executives hope, will create a groundswell of
support in Congress for the Ex-Im Bank, it said.
New York Newsroom (212) 859-1700.

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

Major U.S. Exporters Rush to Export-Import Bank's Defense

03/07/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- Angry and confused that a Republican administration has
targeted one of their favorite programs for big cuts, America's largest
exporters are appealing for help from lawmakers, Wednesday's Wall Street
Journal reported.
Boeing Co. (BA), Caterpillar Inc. (CAT), Enron Corp. (ENE), Halliburton Co.
(HAL) and others are launching an aggressive lobbying campaign on Capitol
Hill to protect the Export-Import Bank from budget reductions; the White
House labels the Ex-Im Bank as corporate welfare.
"The administration has fired its shot, and now we're firing ours," said
Edmund B. Rice, president of the Coalition for Employment Through Exports, an
industry group that is leading the effort.
Since they got wind of the proposed cuts a few weeks ago, business lobbyists
have been trying to rally sympathetic lawmakers. And executives at Boeing,
Caterpillar and other big companies plan to contact some 100,000 smaller
suppliers that benefit indirectly from the $12.6 billion of export loans,
guarantees and insurance that Ex-Im Bank provided in the last fiscal year.
Those small companies, the executives hope, will create a groundswell of
support in Congress for the Ex-Im Bank.
Corporate lobbyists also have dug up a speech that Vice President Dick
Cheney, while chief executive of Halliburton, gave in 1997 praising the bank
and scoffing at those who consider it a giveaway to big business. They plan
to pass Mr. Cheney's comments to influential members of Congress this week.
A spokeswoman for Mr. Cheney had no immediate comment.
Ex-Im Bank officials aren't talking publicly, avoiding the appearance that
they are battling the White House to overturn the proposed 25% cut in the
bank's $865 million operating budget for the current fiscal year, which ends
Sept. 30. But an Ex-Im official said the topic has come up in conversations
between key lawmakers and Ex-Im Bank Chairman James A. Harmon, who is soon to
be succeeded by Mel Sembler, a Bush campaign fund-raiser and a
shopping-center developer.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Report on Business: The Wall Street Journal
What's News
United States
Wall Street Journal

03/07/2001
The Globe and Mail
Metro
B10
"All material Copyright (c) Bell Globemedia Publishing Inc. and its
licensors. All rights reserved."

Boeing Co., Caterpillar Inc. and Enron Corp. are among the big U.S. exporters
launching an aggressive lobbying campaign on Capitol Hill to protect the
Export-Import Bank from budget reductions. The White House labels the Ex-Im
Bank as corporate welfare. "The administration has fired its shot, and now
we're firing ours," said Edmund Rice, president of the Coalition for
Employment Through Exports, an industry group leading the campaign. Since
they got wind of the proposed cuts a few weeks ago, business lobbyists have
been trying to rally sympathetic U.S. law makers.

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

Deal with state could take until 2002 to close
By LESLIE GORNSTEIN
AP Business Writer

03/06/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

LOS ANGELES (AP) - A tentative deal aimed at rescuing Southern California
Edison from insolvency might not close in time to prevent the utility from
begging creditors for more patience, Edison officials said Tuesday.
The utility's tentative, $2.7 billion agreement to sell its power lines to
the state could take until 2002 to be consummated, thanks to complicated
legal issues and other paperwork, an Edison official told bondholders Tuesday.
Once the deal is signed, Edison will try to borrow against the promised cash,
but Edison International Chief Financial Officer Ted Craver admitted the
utility might have to ask creditors to simply wait for their money until it
has the $2.7 billion in hand.
Energy suppliers owed money by Edison did not immediately return calls for
comment Tuesday.
At least four groups of suppliers have sued Edison for millions in unpaid
bills going back months. Edison and fellow utility Pacific Gas & Electric
have said they have lost $13 billion on the open power market thanks to
soaring prices paired with state-imposed price caps.
PG&E's parent company was able to recently borrow $1 billion to pay its
stockholders and its debuts. It did not use any of that money to pay PG&E's
bills.
Edison's disclosure, meanwhile, shocked state officials.
Steve Maviglio, spokesman for Gov. Gray Davis, initially declined to comment
on the status of the Edison deal, but eventually said, regarding its closure,
"We're optimistic it will be sooner rather than later."
The pacing would have nothing to do with whether fellow utilities Sempra
Energy and PG&E also sell their transmission lines to California, Craver
said.
Among the things that could delay the deal's closing is Edison's need to find
landowners on whose property its lines were built to assure no legal
agreements are being violated by the sale. Edison would also have to pin down
exactly what it would be selling to the state - terms that might not be
decided until after a deal has been inked, Craver said.
"Trust me," Craver said in a phone call after the conference. "There are a
lot of legal-type documents - stuff that you and I ... would think of as a
bloody nightmare."
The disclosure comes at a time when an increasing number of power suppliers
are suing the utility for millions in unpaid bills.
Edison also disclosed Tuesday that two more lawsuits had landed in its lap -
one by a group of wind-powered generators including Enron Wind, the other by
two suppliers including New York-based Caithness Energy.
Both suits were filed during the past five days, Edison Assistant General
Counsel Barbara Reeves said. It was not immediately clear how much the
complainants were seeking; neither Enron nor Caithness returned calls for
comment.
The two filings bring the total number of suits by renewable-energy suppliers
against Edison to four, the utility said. The city of Long Beach and
CalEnergy Operating Group, a geothermal supplier, have also sued for back
payments.
CalEnergy alone has said it is owed $45 million in November and December
payments.
The line sale, part of a multifaceted, tentative deal with the state that
could save Edison from insolvency, could take anywhere from several months
into next year, Craver said.
The tentative deal, announced by Gov. Gray Davis Feb. 23, calls for the state
to pay more than twice the book value for Edison's lines.
It also would require Edison to sell cheap power to the state for a decade
and for Edison to end its lawsuit against state regulators. The suit asserts
that price caps imposed by the California Public Utilities Commission are
illegal under federal law.
Additionally, Edison's parent would have to return $420 million it collected
from the utility over the past several years. The money was used to pay debt,
buy back stock and pay dividends to investors.
SCE, PG&E and Sempra have complained they are near bankruptcy because of
soaring prices on the open market combined with the state-imposed price caps
for consumers.
Sempra and PG&E have yet to announce similar line-sale deals with the state,
though they and the governor have said negotiations are ongoing. The total
cost of the 26,000 miles of lines has been estimated at $4.5 billion to $7
billion.

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

Sierra Pacific CEO Doubts SEC OK Of Enron Unit Buy-Report

03/06/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LOS ANGELES -(Dow Jones)- Sierra Pacific Resources (SRP) CEO Walter Higgins
said in an interview last week that he doubts the company's $3.1 billion
acquisition of Enron Corp.'s (ENE) utility Portland General Electric will be
approved by the federal Securities and Exchange Commission, the Las Vegas Sun
reported Tuesday.
The SEC must find that Sierra Pacific is in a strong financial position
before it will approve the deal, but the company is currently weakened by
having lost millions of dollars in fuel and purchased power costs, Higgins
said in the report.
A $311 million rate increase to cover those costs began March 1, but Higgins
said that money would only pay back those expenses and wouldn't improve the
company's stability to a level the SEC would find adequate, according to the
report.
The Public Utilities Commission can halt the rate hike and order refunds if
it decides the hike isn't necessary. The PUC is holding hearings to determine
the prudency of the hike, and members of the state's powerful casino and
mining industries have filed to intervene.
Sierra Pacific's plan to shore up its financial position through the sale of
its 10 power plants, worth nearly $2 billion, may also be in jeopardy. The
state Senate is considering a bill to block the sales, and Nevada Gov. Kenny
Guinn recently sent a letter to the PUC asking that it reconsider its order
allowing electric utilities to sell assets.
Financial analysts have said that not allowing Sierra Pacific's two utilities
to sell their assets would have a ripple effect on the company's financial
position. The asset sales are tied to low-priced power contracts, and if the
sales are canceled, the low-priced power will be gone as well.
"If the divestiture is stopped...the state may be dealing with a much bigger
rate increase," Steve Fleishman, Merrill Lynch utility analyst, told Dow
Jones Newswires recently.
Sierra Pacific is the parent company of electric utilities Sierra Pacific
Power Co. and Nevada Power, which serve customers in the state's North and
South, respectively.
-By Jessica Berthold, Dow Jones Newswires; 323-658-3872,
jessica.berthold@dowjones.com -0- 07/03/01 01-04G

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

Many Power Deals Announced by California Governor Still Not Final
By Jason Leopold

03/06/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Dow Jones Newswires
LOS ANGELES -- Many of the long-term power-supply contracts announced by
California Gov. Gray Davis this week remain under negotiation or are the
subject of ongoing lawsuits, power suppliers said Tuesday.
The lack of finality to the deals raises questions about the state's success
in covering its power needs, particularly going into what is expected to be
an unusually tight summer.
Generators said privately they were surprised the governor went ahead with
his announcement Monday, given that many of the contracts haven't been
signed.
David Freeman, general manager of the Los Angeles Department of Water and
Power, who negotiated the contracts on behalf of the state, conceded that
details remain to be worked out. "This is not a done deal," Mr. Freeman said,
adding that credit concerns are keeping generators from signing the deals.
Gov. Davis announced Monday that California has secured 40 long-term
contracts that will provide California with about 629 million megawatt hours
of electricity over 10 years, at a price of more than $40 billion. A megawatt
hour is roughly the amount of electricity needed to power 1,000 homes.
Several of those forward deals, however, involve contracts originally held by
Edison International (EIX) unit Southern California Edison and PG&E Corp.
(PCG) unit Pacific Gas & Electric at the California Power Exchange,
previously the state's main power market.
The governor seized those contracts earlier this year, just before the Power
Exchange liquidated them to cover hundreds of millions of dollars in power
bills the utilities had failed to pay.
The contracts, which total about 1.3 million megawatt hours of electricity
and have a market value of about $1 billion, according to market sources,
have yet to be paid for or signed over to the state. Duke Energy Corp. (DUK),
one of the suppliers that sold the contracts to Pacific Gas and SoCal Ed, has
sued Gov. Davis for unlawfully commandeering those contracts.
Although Duke has reached an interim settlement to continue providing power
to the state Department of Water Resources until April 30, the company and
the Davis administration still have to "develop a comprehensive long-term
settlement to pay for the power supply contracts," said Duke spokesman Tom
Williams.
The governor went ahead with the announcement, because the California
Department of Water Resources believes it will be able to finalize and sign
the contracts over the next several weeks, Davis spokesman Steve Maviglio
said.
Separately, several suppliers named in the governor's announcement Monday --
including Duke, Reliant Energy Inc. (REI), Mirant Corp. (MIR), Sempra Energy,
Enron Corp. (ENE) and Avista Corp. (AVA) -- said they have yet to sign final
agreements with the state, although negotiations were ongoing.
"We are working in good faith with the DWR toward a long-term contract," said
Art Larson, spokesman for Sempra Energy Resources, a unit of Sempra. Mr.
Larson said Sempra signed a terms of agreement with the water-resources
department and expects to reach a final agreement over the next several
weeks.
Reliant said it has only signed a short-term contract with the state that
expires in about two weeks. The company will only sign a long-term contract
once it's paid more than $400 million owed by Pacific Gas and SoCal Ed,
spokesman Richard Wheatley said.
Mirant said it also won't sign contracts with the state until it's paid.
Enron said it's reached agreement on terms with the state, but has some
credit-related details to hammer out. "Everything's been agreed to except for
some credit technicalities," Enron spokesman Mark Palmer said.
Meanwhile, small, independent power plants in California that are capable of
generating 1,800 megawatts of power are shut down because their owners
haven't been paid by the state's two main utilities, the California
Independent System Operator said Tuesday.
The decline in small-plant output has contributed to the state's power-supply
problems the past two months. Partnerships involving El Paso Corp. (EPG), for
example, shut down 350 megawatts of generation last weekend due to
nonpayment, the company said Tuesday.
SoCal Ed hasn't paid the owners of the smaller generators, known as
"qualifying facilities," since early December, which means the generators are
still owed for electric production in October, while PG&E has paid only a
small percentage of its qualifying facility bills since its last full payment
in early January.
The plants, one-third of which are powered by renewable sources like wind and
solar power, meet almost 30% of California's electricity needs. Almost all of
the closed generators are fueled by natural gas, and many haven't been able
to pay their gas suppliers and have been cut off from their gas supply.
The California Senate Energy Committee plans to vote on legislation to create
a new pricing system for all qualifying facilities this week. The proposed
bill would cut the prices to qualifying facilities from about 17 cents a
kilowatt-hour the past eight months to about eight cents, depending on the
price of five-year natural-gas contracts the generators can sign. The plants
that run on renewable resources would be paid 5.4 cents a kilowatt-hour.
-- Mark Golden contributed to this article.
Write to Jason Leopold at jason.leopold@dowjones.com
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved

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

US Natural Gas Prices Fall As Demand Slips In Most Areas

03/06/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- U.S. natural gas physical prices fell Tuesday as demand
eased, except in the Northeast and Southeast areas of the country, traders
said.
Heavy snowstorms in the upper Northeast supported some pricing, as did cooler
weather in Georgia, the Carolinas and the Florida panhandle.
Some storage buying occurred in Texas "if they could make it work," a trader
said.
"It was a pretty uneventful day," a Gulf Coast trader said late Tuesday.
Also, because of the snowstorm in the Northeast, traders had purchased gas
ahead of time to make up for needed load, he said.
A scheduled work outage on Enron's Transwestern San Juan lateral in New
Mexico was completed, and the return of a power plant in California
alleviated demand in the West, traders said.
At the Arizona-California border hub, buyers paid around $13-$33 a million
British thermal units, West Coast traders said, down as much as $15 from
Monday.
At PG&E Citygate, prices were mixed, with buyers paying $9.75-$10.65/MMBtu,
down 25 cents on the bid, up 15 cents on the offer.
In the Midwest, Chicago Citygate prices fell 7 cents-8 cents to a range of
$5.42-$5.53/MMBtu. Alliance Pipeline into Chicago traded around
$5.47-$5.52/MMBtu, down 4 cents to 9 cents from Monday.
The Nymex April natural gas futures contract settled at $5.315/MMBtu, down
2.1 cents in a tight, range-bound, uneventful session that started late due
to bad weather.
Physical gas prices at the benchmark Henry Hub in south Louisiana ended in a
range of $5.25-$5.30/MMBtu, down 2 cents-6 cents from Monday.
Transcontinental Gas Pipe Line at Station 65 deals were made in a similar
range of $5.26-$5.35/MMBtu, down 2 cents on the bid, unchanged on the offer.
At Katy in East Texas, buyers paid $5.21-$5.30/MMBtu, down 5 cents-6 cents.
At Waha, prices fell 9 cents-12 cents to a range of $5.15-$5.30/MMBtu.
-By John Edmiston, Dow Jones Newswires; 713-547-9209;
john.edmiston@dowjones.com

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


---------------------- Forwarded by Barry Tycholiz/NA/Enron on 04/09/2001 07:50 PM ---------------------------

"The Rockin' Highliners" <info@rockinhighliners.com> on 04/09/2001 01:28:45 PM
To:	"Barry Tycholiz" <barry.tycholiz@enron.com>
cc:

Subject:	$$$

Heh,

    Made a deposit of $900 today. We  will deposit another $100 in a couple of weeks and then we are good until the  end of May. Our first payment was the end of January, then Feb.,and these last  two are for March and April. Good? Talk to you later.


One of Travel Agency in the Park's major phone lines has been damaged due to downtown construction.  The line is currently being repaired with an estimated down time of approximately 4-6 more hours.  Calls are currently being routed to 713-853-4801 and 713-345-5164.  We will send additional notification if this problem persists.  We apologize for any inconvenience.


Thanks Greg, I am very much looking forward to the opportunity and appreciate
your support.  Have a great weekend!


FYI

Happy New Year,
Chris

-----Original Message-----
From:  Leeann Zoeller
Sent: Friday, December 29, 2000 10:55 AM
To: Bob Olver; Chris Waits; Ed Pierangelino; Greg Holtgrave; Jeff Knott;
'Amber Walker'; Angela Bradshaw; Chad Heilig; Chris Edmonds; Daniel Godbey;
Dennis Crum; Jody Clark; Joe Wright; Keelie Schlinke; 'Kelly Stoud'; Leeann
Zoeller; 'Richard Toubia'; Scott Tanner; Shannon Hellman; Todd Creek; Trevor
Atkins; 'Wayne Crane'
Subject: True Quote-CFTC Press Release

Please see the attached press release regarding the CFTC's statement
clarifying the legal status of truequote.com.

Feel free to call me at 212-4906 with any questions.

Thanks.
Lee Ann

 - True Quote-CFTC Release.doc


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BW2011  JAN 08,2002       2:06 PACIFIC      05:06 EASTERN

( BW)(TX-INDUSTRIAL-INFO-RES) Industrial Manufacturing Outlook To
Remain Steady In 2002, In An Advisory By Industrialinfo.com

    Business Editors

	   HOUSTON--(BUSINESS WIRE)--Jan. 8, 2002--An advisory from
Industrialinfo.com (Industrial Information Resources Incorporated;
Houston, Texas). According to the latest release of the 2002
Industrial Outlook (http://www.industrialinfo.com/indoutlook.htm)
published by Industrial Information Resources, portions of the
industrial manufacturing sector will remain depressed for the upcoming
year. Capital spending remained moderately low in 2001 for the
automotive, printing, publishing, and plastics and rubber products
molding industries. Other industries, such as semiconductor
manufacturing and textiles and apparel, experienced depressed market
growth with very minimal capital investment taking place.
	   The automotive sector has been one of the strongest capital
spending sectors over the last several years. America's "Big Three"
producers have spent billions of dollars retooling plants to increase
production of popular sport utility vehicles (SUVs), keeping up with
demand and staying competitive with foreign automakers. One of the
major trends affecting capital spending in the automotive industry is
the continuing effort by foreign automakers to transplant production
operations to the U.S. Billions of dollars have been spent by foreign
owned automakers to construct new plants and build or expand tier
supplier parts manufacturing plants. Even with the slowdown in the
economy, this trend will continue in 2002.
	   Bring up the words "technology" or "high tech" and the general
public frowns over the losses that have been posted by this sector.
Semiconductor manufacturing has not been excluded from these losses.
Over the past several years, this sector had been a large contributor
of capital spending for the industrial manufacturing markets. In 2000,
Intel spent over $6 billion building or expanding wafer fabrication
plants. However, as the market turns down, capital budgets are cut to
make up for the losses being posted by most firms. The worst hit
semiconductor producers are those who manufacture memory devices.
Currently prices are at rock-bottom lows. In 2001, we saw plants
lay-off employees, scale back production, or even close or sell off
manufacturing assets.
	   For 2002, IIR forecasts capital and maintenance spending for the
industrial manufacturing sector to increase slightly from 2001.
Coverage of this industry includes over 30 different sectors,
including: automotive, heavy machinery, electronics, semiconductors,
textiles & apparel, printing and publishing, durable and non durable
product manufacturing. IIR's recently released 2002 Industrial
Outlook, available on CD-ROM, outlines in detail issues and trends,
including capital and maintenance spending, for the Industrial
Manufacturing Industry and other industrial market segments. For more
information on the 2002 Industrial Outlook, trends and upcoming
construction activities in the industrial manufacturing industry as
well as other industrial sectors, send inquiries to
industrialmanufacturinggroup@industrialinfo.com or visit us at
www.industrialinfo.com or www.iirenergy.com.

    --30--LS/na*

    CONTACT: Industrial Information Resources Inc., Houston
             Michael Bergen, 713/783-5147

    KEYWORD: TEXAS
    INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS ENERGY MANUFACTURING
    SOURCE: Industrial Information Resources Inc.

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3rd day of cong meeting


Amerex - May 22

Gas:	21
Power:	44


---------------------- Forwarded by Carla Hoffman/PDX/ECT on 02/22/2001 08:35
AM ---------------------------

Niclas Egmar@EES
02/21/2001 07:19 AM
To: CA scheduling
cc:
Subject: Ca scheduling mail lists

Mike Spruiell will join the EES scheduling team on Monday 26/02/01, please
add him to all your mailing list's

Thanks

Niclas


Everyone worked hard and did a good job on Friday night and Saturday.  From IT, Jenny Rub, Steve Stock, Iain Greig, Anthony Dayao and Ramesh Rao were very engaged and did some great work.  Jeff Johnson was kept updated while in route back to Houston and he is in the office today reviewing the work that has been done to date.  Other ENW team members hard at work with us over the weekend have been Bob Hall, Beth Apollo, Kevin Sweeney, Kerry Roper and Marla Barnard.

Greg P. and I met with Kerry Roper this am to review the summarized version of the work that has been done.  Looks good - and it is unlikely that we will get with Greg Whalley to review the data this weekend.  He's meeting with commercial teams currently, and then will be on a plane for NYC later today.  We will take tomorrow to incorporate any changes that Jeff Johnson may have, and to get the entire weekend team to review and affirm (or change) the data as it is now summarized.

I will e-mail Greg W. an update on the work that we have done today and will copy you on that message.  Greg P. and I decided not to e-mail the details to him - better to review in person.  He will know that we are ready.

Quick preview of Monday's intended schedule:

8:00 am		All direct reports of OOC of ENW will meet in Conference Room 4175 in ECS to view together the web-cast of Dynegy conference call

9:00		Following webcast, Greg P., Marla Barnard and I will meet with OOC direct reports to review Q&A and to talk about next steps

9:30		I will meet briefly with weekend team to go over work needed on Monday re: cost saving measures

10:00		The start of a whirlwind series of floor meetings to reach all ENW employees (have the details mapped out - attached is copy of 			spreadsheet)

4:00		Regroup with weekend team to review data revised during the day on cost saving measures

5:00		Greg P. is buying...

Outstanding item on cost savings efforts:  We didn't include or touch the ISC.  Their budget for 2002 is included in Corp., but since responsibility now rests with you, we need to get Allan involved in the same exercise that we worked over the weekend.  Would you like for me to meet with him on Monday to get him started?  Then you can take it from there?  Or would you like to wait and address this with Allan when you are back in the office?  Just let me know.

Have a good flight back.  Let me know if there is anything that I can do for you tomorrow while you are in route back to Houston.  --Sally


John , seems that the Wartsila guys have not been straight with us , your
guys didn't cause the problem .
Thanks
michael

 -----Original Message-----
From:  Lewis, Richard
Sent: Wednesday 23 May 2001 08:42
To: Brown, Michael
Subject: Wartsila USA

Our US team are not to blame.
---------------------- Forwarded by Richard Lewis/LON/ECT on 23/05/2001 08:45
---------------------------

Chris Thrall
22/05/2001 19:10
To: Richard Lewis/LON/ECT@ECT
cc: Rob Bayley/LON/ECT, Peter Crilly/LON/ECT@ECT, Nigel Beresford/EU/Enron

Subject: Wartsila USA

Richard,

This is the e-mail you forwarded back in February.  I have chased up all of
the guys in the US and here's the scoop:

ENA
Spoke with Bob Virgo who is a John Chappell equivalent, working for Dave Duran
They looked hard at the Wartsila engines back in March and concluded that it
would not work due to emissions problems - they were considering the sites
from all over the US
They haven't spoken with Wartsila for over a month
No wonder why Dave Duran hasn't rushed to call me back

EES
Spoke with Jeff Golden who is VP Corporate Development and acting as deal
leader for distributed generation projects
They have spoken with Wartsila only generally about a deal
EES is trying to create optionality for its originators by pre-permitting
some sites in New Mexico (x 2), Arizona (x 2) and Nevada (x 5)
Each site would be suited for 10 - 50 MW... therefore 70 - 350 MW total
They looked at a 2-4 year lease option with Wartsila starting this summer but
it likely won't happen - can't get the sites permitted in time
Jeff didn't think there was anything that would cause Wartsila to conclude
that the US deal was immenent
Jeff was interested in co-ordinating our efforts and wants to discuss the
merits of a global deal - I will be sending him a copy of our Wartsila term
sheet

Spoke with Mark Dobler who is VP Operations
confirmed that Jeff is the man to talk to in EES
sentiment in EES is that they are no big time bullish about getting into
physical positions to cover off California - thinks the Sol Cal Edison credit
problem will be solved by the government
heard that one of the EES guys in Brazil (Tony Spruill) is looking at
generation to cover off some positions - another potential for a global deal

Conclusion
From Enron USA's perspective there is no burning deal for Wartsila kit

Interesting feedback considering this morning's conversation...

Regards,

Chris

---------------------- Forwarded by Chris Thrall/LON/ECT on 22/05/2001 17:22
---------------------------

Richard Lewis
12/02/2001 08:00
To: Mark Dobler/HOU/EES@EES
cc: Dan Leff@EES, Rob Bayley/LON/ECT@ECT, Chris Thrall/LON/ECT@ECT

Subject: Re: Mobile DG Sets

We are in negotiations with Wartsila, a maker of 3MW gas recip engines, that
gives us access to up to 700MW of engines over a 5 year time frame (including
some very nice optionality).  An important feature is that we think we can
mark to market the tolling contracts.

Chris Thrall is the lead originator on the deal, which still has some
significant hurdles to overcome.  My intention is to get this deal done, then
bring North America in to the equation.
Wartsila are a counterparty with great potential, but can be flakey, and
therefore need to be handled carefully.  I will ask Chris to give you a call
later today.

Regards

Richard

	Enron Energy Services  From:  Mark Dobler @ EES
09/02/2001 23:11

To: Richard Lewis/LON/ECT@ECT
cc: Dan Leff

Subject: Mobile DG Sets

Richard -

I was referred to you by Dan Leff, who asked me to touch base on some mobile
power sets you are deploying in the UK.  He indicated the number to be qty 70
10MW units.

I have the same task here in the US, specifically to take advantage of the
power shortage occurring 2-3Q 2001, in multiple markets.

If you are the right contact person, can we talk on 12 Feb?  I can be reached
at 713.345.5296 (office) or 713.302.3663 (cell).  If you are not the right
contact person, can you forward accordingly?  Thanks for your help.

Regards
Mark


CALENDAR ENTRY:	APPOINTMENT

Description:
	meeting w/ jill eb2133

Date:		12/1/2000
Time:		2:00 PM - 3:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Hey Susan-

Katie has got me thinking about traveling.  I would love to talk to her more
about different options.  Would you either give me her phone #/ Email adress
or give her mine?  Here's my info:

home: 713-528-4751
work:   713-853-1567
email:  texasperk@hotmail.com

Thanks, talk to ya later,
Alicia


are you free at 3:00 today to go over the aga model?


I'm not sure if this is what you are looking for.
Can you check. This is all that we have in the system


Hi Marc

I think we are almost ready to start landscaping project  - could you go to
Newton's on Sat am?  Hope all is well.


Thanks, Joe

Joe Hillings@ENRON
10/19/99 04:50 AM
To: Steven J Kean/HOU/EES@EES, Terence H
Thorn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cynthia Sandherr/Corp/Enron@Enron,
Jeffrey Keeler/Corp/Enron@Enron, Chris Long/Corp/Enron@Enron, John
Hardy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Kenneth Lay/Corp/Enron@Enron, Joseph W
Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sanjay
Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ashok
Mehta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eric Shaw/LON/ECT@ECT
Subject: President And Congress To Meet In Attempt To Resolve Budget
Disagreement

President Clinton vetoed the Foreign Operations Appropriations bill
yesterday. His press secretary announced that other vetoes were possible
until the President and Congress reached agreement on the budget impasse. The
Defense Appropriation conference report which contains authority to
permanently extend the exemption relating to OPIC and ExIm financing for
projects in India is in the cue and could be affected by this action.

Congressional authority for government operations expires this week as does
the one-year exemption. Congress must act by Thursday to extend both items.
Congress is expected to adopt a "continuing resolution" through October 29
while the two branches of government work out their differences.

The President and Congressional leaders are to meet today to discuss and
possibly establish a procedure for negotating the disagreement.


__________________

When: Tuesday, April 24, 2001 11:00 AM-12:00 PM (GMT-06:00) Central Time (US & Canada).
Where: EB3566

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


Here is the memo we just sent to Gary re: Australia. You should find it
helpful - especially the "Background" part.


CP, Howdy from my hotel room.  I decided not to play golf, big surprise.  I'm
resting and working.
Looked at my email lately?

On a more serious note, would you please have Jason burn a disc of the most
recent version of EGM.  I will need to have a computer to play it and how to
work it for the off-site on Monday.

Thanks,
mike


To catch everyone up, we have changed the Danno C transaction to McGarret D.
The debt and equity received by the trust in McGarret D will be used to repay
the McGarret B series, which will then be terminated, and the excess funds
will go to Enron pursuant to the Total Return Swap executed in connection
with the McGarret B closing.

Attached, in Word format, for immediate execution are the following three
documents:

Asset Notice (258187) (clean and marked against latest draft);
Prepayment Notice w/respect to McGarret B (259570) (clean); and
Direction Letter to Owner Trustee (258312) (clean and marked against latest
     draft.

Gina Karanthanos - Please (i) coordinate with Charles to determine the final
debt and equity amounts for Series McGarret D, (ii) complete the blanks in
the Asset Notice and the Direction Letter, (iii) send an executed, clean copy
of the Asset Notice to Mercy Arango, and (iv) send a clean copy of the
Direction Letter to Mercy Arango for execution.

Mercy Arango - When you have the clean copy of the Direction Letter (or
alternatively know the amounts to fill in as debt and equity), please execute
the Direction Letter and fax the executed copy directly to:

     (i) Ann Roberts (fax 302-427-4749; phone 302-651-8681),
     (ii) Glen Kenton (fax # 302-658-6548; phone 302-651-7726),
     (iii) Muriel McFarling (fax 214-659-4784; phone 214-659-4461), and
     (iv) Gina Karanthanos (fax 713-853-9252; phone 713-853-3376)

Ann Roberts/Glen Kenton - When you receive the executed copy of the Direction
Letter, please execute the Prepayment Notice (attached to this e-mail as doc
#259570) and fax the executed notice immediately to:

     (i) Mercy Arango (fax 212-885-4909; phone 212-856-3862),
     (ii) Muriel McFarling (fax 214-659-4784; phone 214-659-4461), and
     (iii) Gina Karanthanos (fax 713-853-9252; phone 713-853-3376)

I will be out of the office tomorrow, and will therefore not be available to
coordinate the delivery of the above documents.  If you have any questions,
comments or concerns, please call David Barbour at 214-659-4444.

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4461
(214) 659-4784 (fax)

 - 258312rl.doc
 - 258187rl.doc
 - 258312.doc
 - 258187.doc
 - 259570.doc


request_number:  PG-BPA: 133
firstname:  Sarah
lastname:  Westenberg
e-mail:  sawestenberg@bpa.gov
exhibit_wp-02-e-:  BPA-77
page_numbers:  Attachment A.
request_text:  Please provide an electronic copy of this Attachment in Word
format with all changes in redline format.

response_text:  Response: See attachment.

The following information is from the web server:
1.  Logon: IUSR_GRANITE
2.  Remote Host:  53.180.74.220
3.  Remote IP Address:  53.180.74.220
4.  Form URL:
http://www.bpa.gov/power/secure/psp/ratecase/discovery/wp_02_response.html
5.  Browser Client:  Mozilla/4.0 (compatible; MSIE 5.01; Windows NT; BPA 4.01
SP2; BPA 5.01 SP1)


Thanks Fran!  I was just running the report to do the same thing!  I'll take care of it all today.

ds

 -----Original Message-----
From: 	Chang, Fran
Sent:	Tuesday, November 27, 2001 9:55 AM
To:	Scholtes, Diana; Crandall, Sean
Subject:	NCPA deal review
Importance:	High

Diana and Sean:

Up to 11/26/01,
1. we are missing the annuities for 11/7, 11/18, 11/19, 11/22, 11/23, and 11/24
2. we need to restore HE23-24 for deal# 517676.1 for 11/2/01 (lightload sale in NP15) in scheduling

Please let me know if you need any help entering the annuities or restoring the HE23-HE24 scheduling (for 11/2/01 for deal 517676.1).

As the month-end is approaching, I am hoping we can clear the above issues up before Settlements captures the wrong P&L.

Thanks,

Fran


Well, maybe it makes more sense to write it like this:  (see below)

	From:  Kathleen Carnahan                           02/22/2001 04:57 PM

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

Subject: Re: Form of Letter Agreement for Purchase of Membership Interests &
Draft CA for Northwestern Corp.

Well, let's try again then.  How about this (I left off reference to
"States"):

Enron North America Corp. (&ENA8 or the "Protected Party") is prepared to
furnish Northwestern Corp. (&Northwestern8 or the "Receiving Party") with
certain information which is either confidential, proprietary or otherwise
not generally available to the public in connection with the potential sale
of one or more of the Protected Party's power plant development projects
and/or one of more of the special purpose companies which own such projects
or project-related assets,  (collectively, the &Projects8) for purposes of
evaluating one or more transactions between Protected Party and Northwestern
involving the Projects (collectively, the &Proposed Transaction8).

K-

Kay Mann
02/22/2001 04:42 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: Re: Form of Letter Agreement for Purchase of Membership Interests &
Draft CA for Northwestern Corp.

No biggie, and understandable.  When we sell the equipment we structure it
like we did on the CA deal - we sell the special purpose companies that will
own the equipment at the time of sale.

	From:  Kathleen Carnahan                           02/22/2001 04:37 PM

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

Subject: Re: Form of Letter Agreement for Purchase of Membership Interests &
Draft CA for Northwestern Corp.

I will be happy to conform the NW to this form if that is what you want.  In
the form with the paragraph below, I thought "(i) the potential sale of one
or more of the Protected Party's power plant development projects and/or one
of more of the special purpose companies which own such projects in [states]"
 was to be used for particular sites where we have existing land options we
are trying to sell, and that when we were trying to sell equipment (i.e.
7EA's) we would refer to these as "gas fired electric generation projects"

My mistake.

Kathleen

Kay Mann
02/22/2001 04:15 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: Re: Form of Letter Agreement for Purchase of Membership Interests &
Draft CA for Northwestern Corp.

The form we have has this as the first paragraph, which is different from the
form attached.  Could you conform the NW one to the form?

Enron North America Corp. (&ENA8 or the "Protected Party") is prepared to
furnish [__________________] (&*8 or the "Receiving Party") with certain
information which is either confidential, proprietary or otherwise not
generally available to the public in connection with: (i) the potential sale
of one or more of the Protected Party's power plant development projects
and/or one of more of the special purpose companies which own such projects
in [states],  (collectively, the &Projects8) for purposes of evaluating one
or more transactions between Protected Party and   * involving the Projects
(collectively, the &Proposed Transaction8).


---------------------- Forwarded by Kay Mann/Corp/Enron on 11/03/2000 04:57
PM ---------------------------

Kay Mann
11/03/2000 04:52 PM
To: jeff.ader@enron.com, heather.kroll@enron.com
cc:

Subject: FCEL consent to disclosure letter

As requested, I went the abbreviated route.

Kay


so where are we going to go?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 1:26 PM
To:	Rybarski, Amanda
Subject:	RE:

ok me too

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 1:26 PM
To:	Maggi, Mike
Subject:	RE:

I'm not too sure yet...I'm going to try to leave around 3 or 3:30

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 1:25 PM
To:	Rybarski, Amanda
Subject:	RE:

i dont know what time are you

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 1:23 PM
To:	Maggi, Mike
Subject:	RE:

What time are you leaving today?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 1:23 PM
To:	Rybarski, Amanda
Subject:	RE:

so lets go

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 1:18 PM
To:	Maggi, Mike
Subject:	RE:

Yes! Believe me, I can't wait!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 11:46 AM
To:	Rybarski, Amanda
Subject:	RE:

early this week i hope

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:30 AM
To:	Maggi, Mike
Subject:	RE:

okay, I will...this week!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:29 AM
To:	Rybarski, Amanda
Subject:	RE:

prove it

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:28 AM
To:	Maggi, Mike
Subject:	RE:

you are the big cheese to me baby!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:27 AM
To:	Rybarski, Amanda
Subject:	RE:

i dont really know what he is going to do, i thought i was always the big cheese

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:26 AM
To:	Maggi, Mike
Subject:	RE:

REALLY, where is he going? Are you going to be the big cheese now?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:25 AM
To:	Rybarski, Amanda
Subject:	RE:

i am staying also but john is not

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:25 AM
To:	Maggi, Mike
Subject:	RE:

no he's staying...what about you?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:24 AM
To:	Rybarski, Amanda
Subject:	RE:

me too, is chris leaving

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:24 AM
To:	Maggi, Mike
Subject:	RE:

I wish...that would be my dream job!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:23 AM
To:	Rybarski, Amanda
Subject:	RE:

really, so who then, me?

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:23 AM
To:	Maggi, Mike
Subject:	RE:

yeah, but I don't know for who...I don't think I will be working for Chris.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:22 AM
To:	Rybarski, Amanda
Subject:	RE:

im glad to hear that, so are you going to be doing the same thing

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:21 AM
To:	Maggi, Mike
Subject:	RE:

Not at all...I just now got my offer letter...FINALLY.  What about you? Anything exciting?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:20 AM
To:	Rybarski, Amanda
Subject:

anything exciting going on over there


Please note on your calendars that our Annual Thanksgiving Luncheon is
scheduled for Thursday, November 16th.  For those of you who would like to
participate by bringing in a dish, a sign-up sheet is posted in the copier
areas on the 38th floor.

If you have any questions, please feel free to contact Kaye Ellis at
extension 3-5968 or myself at 39402.

* Note - Turkey and Ham will be catered by Logan Farms.

Twanda Sweet
Enron North America Corp.
EB3821
(713) 853-9402
twanda.sweet@enron.com


andragogy (AN-druh-go-jee) noun

   The methods or techniques used to teach adults.

[Andr- variant of andro-, male + (ped)agogy.]

   "As all the patients undergoing cataract surgery are mature adults, the
   theory of androgogy is more appropriate."
   Jean Cooper, Teaching patients in post-operative eye care: The demands
   of day surgery, Nursing Standard, Apr 28, 1999.

This week's theme: words from the world of learning and the learned.

.............................................................................
There is nothing like dream to create the future. Utopia to-day, flesh and
blood tomorrow. -Victor Hugo, poet, novelist, and dramatist (1802-1885)

Feeling information overload? Sign off a few mailing lists. If you wish
to unsubscribe from AWAD, send a blank message to wsmith@wordsmith.org with
the word unsubscribe in the subject line of your message.  Of course, we'd
rather you stay with us. After all, it is only a `word' a day. (-:

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


Accomplishments (created by Mary Hain/HOU/ECT on 11/19/98)


Vince,
     Could you give him (Bill) a call at 1 or 2 on Friday CST? His Cell
Phone is 918-625-6683.

Marshall Brown
Vice President
Robert Walters Associates
Tel: (212) 704-0596
Fax:(212) 704 - 4312
mailto:marshall.brown@robertwalters.com
http://www.robertwalters.com

> -----Original Message-----
> From: Vince.J.Kaminski@enron.com [SMTP:Vince.J.Kaminski@enron.com]
> Sent: Monday, March 12, 2001 6:36 PM
> To: Marshall.Brown@robertwalters.com
> Cc: Vince.J.Kaminski@enron.com
> Subject: Re: Resume
>
>
> Marshall,
>
> I am catching up with my mail. We would like to talk to this candidate as
> well
> (phone interview).
>
> Vince
>
>
>
>
>
> Marshall Brown <Marshall.Brown@robertwalters.com> on 02/21/2001 12:36:39
> PM
>
> To:   Vince Kaminski <vkamins@ect.enron.com>
> cc:
> Subject:  Resume
>
>
> Vince,
>      This candidate would be interested in speaking with you.
> Regards,
>
> Marshall Brown
> Vice President
> Robert Walters Associates
> Tel: (212) 704-0596
> Fax:(212) 704 - 4312
> mailto:marshall.brown@robertwalters.com
> http://www.robertwalters.com
>
>
>  <<KOUR_VAS.DOC>>
>
>
> **********************************************************************
> CAUTION: Electronic mail sent through the Internet is not secure and could
> be intercepted by a third party.
>
> This email and any files transmitted with it are confidential and
> intended solely for the use of the individual or entity to whom they
> are addressed. If you have received this email in error please notify
> the system manager.
>
> This footnote also confirms that this email message has been swept by
> MIMEsweeper for the presence of computer viruses.
>
> **********************************************************************
>
> (See attached file: KOUR_VAS.DOC)
>
>  << File: KOUR_VAS.DOC >>


Desiree Hoover
1264 Alicante Dr
Pacifica, CA 94044
Sailoret_2000@yahoo.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Desiree Hoover


- Spread of Calif. Crisis Concerns Bush (washingtonpost.com).html


We bought gas from Keyspan at $5.00 intraday today.  We are shipping that IT
to Emporia,  Fuel is 1.52%.  I estimated $.07 for fuel and $.17 for
commodity.  See deal 118105.


Here are a couple of things to start with, and I am looking for a few more
that should be a help

 - Power Outlook.xls


JAPAN: UPDATE 1-Enron says priority in Japan is electricity market.
Reuters English News Service, 10/31/00

Enron's Japan Unit To Offer "Elec Discount Pdt" Nov
Dow Jones Energy Service, 10/31/00

COMMODITIES & AGRICULTURE: US makes zinc stockpile awards NEWS DIGEST
Financial Times, Oct 31, 2000

Arena flier rouses ire of backers
Letter attacks plan, mayor and Democrats
Houston Chronicle, 10/31/00

AEP to Divide Its Assets Between Two New Companies (Update1)
Bloomberg, 10/31/00

JAPAN: UPDATE 1-Enron says priority in Japan is electricity market.

10/31/2000
Reuters English News Service
(C) Reuters Limited 2000.

TOKYO, Oct 31 (Reuters) - Enron Corp Chairman and Chief Executive Kenneth Lay
said on Tuesday the Houston-based company's near-term priority in Japan was
the electricity supply market, which is undergoing deregulation.
"One of our highest priorities...in the next two or three years is
electricity," Lay told a news conference.
Last year, Enron established its first Japanese venture, E Power, to try to
break into Japan's electricity market that since March has allowed
non-utility firms to supply power to large-lot industrial and commercial
users.
Japanese media have reported that Enron, North America's leading buyer and
seller of electricity and natural gas, plans to build a coal-fired power
plant in Fukuoka prefecture on the southern main island of Kyushu.
Asked whether Enron planned to buy or build a power plant in Japan, Lay said
the company believed there was surplus capacity in Japan on which it hoped to
draw.
"Our belief is, if anything, today there probably is surplus capacity both of
generation and transmission capacity," Lay said.
"It's not a matter that we are reluctant to buy or build assets," he said.
"If the market has surplus capacity, there's not much reason to do that, at
least initially."
Enron also unveiled on Tuesday a package offering eligible electricity users
three-to five-year electricity contracts that it says will reduce their
electricity bills by up to 10 percent for the first year, with the
possibility of further reductions for the remaining years of the contract.
Several other foreign energy firms have also shown an interest in entering
the Japanese market.
These include U.S. oil major Texaco Inc , Vivendi SA and the Royal
Dutch/Shell Group .
None has started actually supplying electricity to large-lot consumers in
Japan, however. Enron set up a second subsidiary in May, Enron Japan Corp,
with the aim of seeking business opportunities other than electricity supply
in Japan, mainly through EnronOnline.
The Web-based EnronOnline trading system had, as of October 11, executed more
than 350,000 transactions with a gross value of $183 billion on the system
since it was launched in late 1999.
Enron uses the online system to make markets in commodities such as pulp and
paper, petrochemicals, metals and broadband capacity, in addition to gas and
power.

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

Enron's Japan Unit To Offer "Elec Discount Pdt" Nov

10/31/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

TOKYO -(Dow Jones)- Enron Corp. (ENE), the Houston-based energy and
communications giant, said Tuesday its wholly-owned subsidiary Enron Japan
Corp. will offer effective Nov. 1 an "electricity discount product" targeting
Japan's high-volume large-lot power users, numbering 8,000.
Joseph Hirl, Enron Japan's president and chief executive officer, told
reporters that his company is "already working with a number of entities" to
discuss power supply contracts.
Enron's package, which will typically run three to five years, will allow
customers to "immediately" cut up to 10% in their current electricity costs
for the first year of the contracts, with the possibility of further
reduction for the following years.
In the first full year of the contract, Enron will pay a financial rebate of
up to 10% to a customer on a kilowatt-hour basis, under the customers'
existing power supply contracts with other power suppliers.
Enron will pay a rebate in the first year but will not actually supply
electricity.
From the second year onward, Enron will supply actual electricity to the
customer at agreed fixed prices.
Under the government's partial deregulation implemented March 21, high-volume
large-lot retail electricity consumers - which represent roughly 27% of
Japan's total power demand - can now freely choose their power suppliers.
Enron declined to elaborate on how it plans to secure electricity necessary
for fulfilling the proposed contracts.
Enron Corp.'s chairman and CEO Kenneth Lay, who was speaking at the same
press conference, said the company's highest priority in the Japanese market
for the next two to three years will be electricity trading and marketing.
Next comes trading in metals, weather derivatives and pulp and paper, Lay
said.

In addition to those main focus areas, Enron Japan's Hirl said there is
"tremendous potential" in areas such as liquefied natural gas, coal and
foreign exchange trading.
"We're looking to provide much services we can at the best price, and in many
cases at lower prices, in most of the services we provide," Hirl said.
Enron also plans to introduce broadband services in Japan.
"For the next two to three years, establishing and extending our broadband
network in Japan is a key part of our growth," said Kenneth Rice, chairman
and CEO of Enron Broadband Services.
Japan is a huge Internet market and it's also a logical foothold for Enron to
extend its network into the rest of Asia, he said.
By offering "EnronOnline" - the world's largest business-to-business
electronic commerce platform, "Enron can help the Japanese economy become
more efficient by significantly reducing the costs of many products and
services," Lay said.
-By Maki Aoto, Dow Jones Newswires; 813-5255-2929; maki.aoto@dowjones.com

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

		COMMODITIES & AGRICULTURE: US makes zinc stockpile awards NEWS DIGEST
Financial Times, Oct 31, 2000, 45 words
US makes zinc stockpile awards
		The US Defence National Stockpile Centre awarded about 26.6m lbs of zinc to
three groups in its latest solicitation of offers.
		Awards were made to Sogem USA, Enron Metals & Commodity Group and US Zinc for
an approximate value of Dollars 15m. Reuters, New York
		Copyright , The Financial Times Limited

Oct. 30, 2000, 9:50PM
HOUSTON CHRONICLE
Arena flier rouses ire of backers
Letter attacks plan, mayor and Democrats
By ERIC BERGER
Copyright 2000 Houston Chronicle
Arena proponents are decrying a letter circulating among area Republicans
that ties the proposal to Houston Mayor Lee Brown and contains at least six
factual errors.
Brown, a central figure in the 1999 arena proposition that voters rejected,
has had a considerably less visible role in this year's effort. Many
Republicans viewed a vote against the arena last year as a vote against
Brown, a Democrat, and an opportunity to embarrass him.
"There are three areas where we believe Mayor Lee Brown's multimillion-dollar
corporate welfare campaign must be addressed," states the letter, which was
mailed to more than 500 Republicans and was sponsored by Republican precinct
chairwoman Mary Jane Smith.
What it fails to mention is that conservative U.S. Rep. Bill Archer,
R-Houston, has endorsed the plan and that the pro-arena campaign chairmen are
notable Republican fund-raisers Ken Lay and Don Jordan.
"I suppose she believes that we've programmed Lay and Jordan to vote
Democrat," said pro-arena campaign manager Dave Walden. "And that I spent a
day hypnotizing Bill Archer."
Beyond Brown, the letter also seeks to tie the pro-arena campaign to Vice
President Al Gore, the Democratic presidential candidate.
"They have teamed up with Democrat activists and Mayor Lee P. Brown to
connect arena and Gore voters," according to the letter. "Turn out a
pro-arena vote and you turn out a Gore vote."
Such questionable associations -- Lay, for example, is one of Republican
presidential candidate Gov. George W. Bush's closest business advisers --
offer a vivid look at how desperate arena opponents are, Walden contends.
This criticism failed to stymie Smith, who plans to send out another printing
of the letter this week. "All of my Republican buddies are opposed to this,"
she said. "I think it's kind of funny the arena people are taking the
attitude of `How dare anyone question us?' "
The letter, which clearly targets Brown, further suggests that "what Houston
lacks is world-class leaders" who would have negotiated a tougher deal with
Houston Rockets owner Leslie Alexander.
"Mayor Lee Brown won't fund the immunization of Houston's poor Hispanic
children, but he is able to build a parking garage benefiting a handful of
multimillionaires," the letter says.
Walden called that statement racist.
It is also inaccurate, as the city is not building the parking garage. A
group of private business leaders, headed by Lay, will lend the Harris
County-Houston Sports Authority $30 million for the garage. The sports
authority, and its hotel and car rental tax revenues, are not affiliated with
the city.
Among other errors in the letter:
? "The ballot language does NOT rule out ... the usual cost overruns." This
is irrelevant because the Houston Rockets pay construction cost overruns.
? "Taxpayers fund and build the arena garage with Les Alexander reaping ALL
of the parking fees." The private, interest-free loan will help the sports
authority finance the garage. To help repay the loan, the sports authority
will collect parking fees during the daytime and at concerts and other events
that don't involve Alexander's Rockets, Comets and ThunderBears.
? Although the city gets use of the arena for 20 dates a year, the letter
says that only five days may be leased for revenue. In fact, all 20 dates may
be used for fund-raisers. This was clarified in changes to the letter of
agreement between the Rockets and the sports authority.
? "This year's ballot language gives an incredible $200 million to the
Rockets for naming rights, while the city receives less than 10 percent."
Under terms of the agreement, the Rockets may sell the naming rights to the
arena, but it is unlikely the team would receive $200 million. Such a payment
is not guaranteed by the ballot language. The city receives 5 percent of the
revenue from the sale of the naming rights.
? "Today, Houston is building the Hobby Arts Center, again, with no public
funding. If we can use private funding for the arts, why can't our sports
owners fund their own projects?" Actually, the city donated land appraised at
$35 million for the Hobby Center for the Performing Arts, and gave another
$30 million in hotel taxes toward its construction. The city also gives $8
million annually to the Cultural Arts Council of Houston, a $3.5 million
subsidy to the Wortham Center and a $1.5 million subsidy to Jones Hall.

AEP to Divide Its Assets Between Two New Companies (Update1)
10/30/0 18:40 (New York)

AEP to Divide Its Assets Between Two New Companies (Update1)

     (Adds company, analyst comments starting in fourth
paragraph.)

     San Francisco, Oct. 30 (Bloomberg) -- American Electric Power
Co., a Columbus, Ohio-based owner of utilities in 11 U.S. states
and Europe, said it will split its regulated utilities from its
less-regulated businesses, creating two wholly owned companies.
     The company also said it has ruled out merging Seeboard Plc,
a natural gas and power distributor it owns in England, with
Yorkshire Electricity Plc, a U.K. utility partly owned by AEP.
     The separation of its businesses is patterned on plans it has
already filed in Ohio and Texas, AEP said. Earlier this year, the
company was required to separate all or most of its power plants
and assets from its transmission lines and related assets in those
states as part of efforts to open the Ohio and Texas markets to
competition.
     The separation will take about a year to complete, said E.
Linn Draper Jr., AEP's chairman, president and chief executive
officer. Once it is completed, AEP will have the option of
spinning off one of the two companies.
     ``We will have options of IPO, spin-off, divestiture,''
Draper told analysts at the Edison Electric Institute conference
in San Francisco.
     As deregulation is approved in other states, AEP said, it
plans to move all of its transmission system into the company that
runs its regulated utilities, which will continue to have fixed
rates of return set by regulators, and move its power plants into
the company that runs less-regulated businesses with more
opportunities for growth.
     ``I think it's the best way for them to organize such a big
company,'' said PaineWebber Inc. analyst Barry Abramson, who has a
``neutral'' rating on AEP. ``It'll focus better attention on the
growth business, not the slower-growing distribution business.''

                       `Undervalued' Shares

     Draper told analysts that part of the reason for the
restructuring is to raise the value of the company's shares by
more clearly showing the performance of its better-performing
generation, wholesale marketing and trading businesses.
     ``We are very unhappy about the stock price,'' Draper said.
``We think it is significantly undervalued.''
     The wholesale power business -- the buying and selling of
power between utilities and other large consumers and generators -
- is already deregulated.
     ``We have no plans to expand our distribution business either
in the United States or internationally,'' Draper said.
     AEP said it will file its restructuring plan with the U.S.
Securities and Exchange Commission sometime this week and complete
the separation by the end of 2001, in line with the deregulation
timetable in Texas and other states it serves.
     AEP completed the $10 billion acquisition of Central & South
West Corp. in June, creating a utility with 5 million customers.
Seeboard and the stake in Yorkshire came with the purchase.
     In February, then-Central & Southwest President Tom Shockley,
now AEP vice chairman, discussed the possibility of merging
Seeboard and Yorkshire. U.K. utilities have been squeezed recently
by taxes and regulated price cuts.
     Combining those businesses provided no major cost savings,
Draper said today.
     ``We think that keeping them separate gives us options,'' he
said. ``It simply made better sense to keep our options open.''
     AEP owns more than 38,000 megawatts of generation. About
25,000 megawatts of the company's generation will be deregulated
by the end of 2001. AEP also is the No. 2 power trader and
marketer after Enron Corp.
     Shares of Columbus, Ohio-based AEP rose $1.88 to $41.81.

--Margot Habiby mhabiby@bloomberg.net, and Daniel Taub
dtaub@bloomberg.net in San Francisco/alp/pkc

Story illustration: To compare AEP's earnings and shares
performance with other utilities, see {AEP US <Equity> RV <Go>}.


For your information, I have attached correspondence from the Federal
Reserve requesting ISDA's participation in the Commodity Futures
Modernization Act retail swaps study.  The correspondence also lists
interview topics/questions. Please do not hesitate to call if you have any
questions.  Many thanks!   -- Stacy

Stacy Carey
Policy Director
International Swaps and Derivatives Association
600 5th Avenue, 27th Floor
Rockefeller Center
New York, NY  10020
(212) 332-1202 ph
(212) 332-1212 fax
(917) 543-9622 cell
scarey@isda.org

>  <<FRBNYLtr.pdf>>
>
>

 - FRBNYLtr.pdf


Congratulations on the birth of Emma.  I hope that everyone is doing well.
Enjoy your time off and the opportunity to hold and hug that new baby.  I
will look forward to seeing pictures the next time that we get together.
--Sally