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Harry -- I think that we need to talk with EWS Tariff risk to make sure that we are on the same page. I am concerned that some of Gloria's statements may not end up happening with the final tariffs. Please advise. Jim -----Original Message----- From: Ogenyi, Gloria Sent: Monday, November 19, 2001 3:27 PM To: Anderson, Bob; Collins, Patricia Cc: Rathvon, Richard; Sparling, Jay; Keene, Patrick; Kingerski, Harry; Steffes, James D.; Ryall, Jean Subject: RE: Rock Tenn CoGen Facility Bob, Per Section 25.345 (c) of the Electric rules, if the Cogen facility has a rated capacity of 10MW or less, it qualifies as "eligible generation" under Section 25.345(c)(B). In Section 25.345(i), an end-user whose actual load is lawfully served by eligible generation and who does not receive any electrical service that requires the delivery of power through the facilities of a T & D utility is not responsible for payment of any stranded cost charges. Also a retail customer whose actual load is lawfully served by eligible generation who also receives electrical service that require the delivery of power through the facilities of a T & D utility, shall be responsible for payment of stranded costs charges based solely on the services that are actually provided by the T & D utility. The short answers to your questions are: 1. Rock Tenn will not be required to pay CTC charges if its rated output is less than 10MW, and it does not take any T&D services from TXU. 2. If Rock Tenn uses T&D facilities occasionally, it will pay CTC only for the actual services it receives from the T& D utility. 3. If Rock Tenn completely disconnects from the utilities T&D services, it will be in the same position as in 1 above. It will not be required to pay the CTC. 4. At this time, TXU does not have a financing bond issued by the Commission. In an earlier order, the Commission approved $363 MM for TXU, but that order was appealed, and the Supreme Court remanded the case to the Commission for rehearing. With information that is available to it at this time, the Commission does not think that TXU has stranded costs. I believe TXU will disagree. It will be interesting to see how this plays out. Please call with any questions, Gloria -----Original Message----- From: Anderson, Bob Sent: Friday, November 16, 2001 3:47 PM To: Ogenyi, Gloria; Collins, Patricia Cc: Rathvon, Richard; Sparling, Jay Subject: RE: Rock Tenn CoGen Facility Gloria, Per the information you provided Trish (below) concerning CTC in TX, the cogen design is less than 10MW. Therefore, what are the "DG rules" and how do these rules impact Rock Tenn's requirement to pay CTC? What if they only use the utility's T&D facilities occasionally when the cogen is not running? What if they completely disconnect from the utility's T&D facilities, as if they are no longer in business? Is TXU expected to have significant stranded costs? Thanks, Bob -----Original Message----- From: Sparling, Jay Sent: Wednesday, November 07, 2001 12:49 PM To: Anderson, Bob Cc: Rathvon, Richard Subject: Rock Tenn - Will pay CTC charges FW: CoGen Facility ---------------------- Forwarded by Jay Sparling/HOU/EES on 11/07/2001 12:47 PM --------------------------- From: Patricia Collins/ENRON@enronxgate on 11/07/2001 10:34 AM To: Jay Sparling/HOU/EES@EES cc: Subject: FW: CoGen Facility Here is the information for Rock Tenn. Thanks, Trish -----Original Message----- From: Ogenyi, Gloria Sent: Wednesday, November 07, 2001 10:09 AM To: Collins, Patricia Subject: FW: CoGen Facility -----Original Message----- From: Ogenyi, Gloria Sent: Wednesday, November 07, 2001 8:43 AM To: Collins, Patricia Subject: FW: CoGen Facility -----Original Message----- From: Ogenyi, Gloria Sent: Wednesday, November 07, 2001 8:38 AM To: COLLINS, PATRICIA Subject: FW: CoGen Facility Trish, I sent this to you yesterday, but apparently, it went to the wrong address. -----Original Message----- From: Ogenyi, Gloria Sent: Tuesday, November 06, 2001 5:16 PM To: COLLINS, PATRICIA Cc: Hamb, Edward; Kingerski, Harry; Ryall, Jean Subject: CoGen Facility Trish, Per Chapter 39.252(b)(1) of the Texas Utilities Code, recovery of stranded costs by an electric utility shall be from all existing or future retail customers within the utility's certificated territory as it existed on May 1, 1999. A retail customer may not avoid CTC's by switching to a new on-site generation. New on-site generation is defined as an electric generator generating more than 10 MW, capable of being lawfully delivered to the site without use of the utility T & D facilities, and which was not fully operational prior to 12/31/99. (If the self-gen facility's output is 10 MW or less, it will be governed by the DG rules.) If a customer commences taking energy from a new on-site generation (with output of more than10 MW ) which materially reduces or eliminates the customer's use of energy delivered through the utility's facilities, the customer shall pay an amount each month computed by multiplying the output of the on-site generation by the CTC which is in effect during the month. Any CTC assessed on such a self -gen facility after it becomes fully operational, shall be included only in those tariffs or charges associated with services actually provided by the T & D utility to the customer after the facility has become fully operational. So if no services actually provided, there should be no payment. Please call with any questions, Gloria
Why is Buxton upset? This is good for consumers? What does he want to change his mind and push this forward? Wouldn't this just lower the prices to his customers? Also, this is why we need to be constantly pushing the political message in the states. Jim -----Original Message----- From: Barnes, Lynnette Sent: Tuesday, August 14, 2001 11:19 AM To: Ferris, Frank; Fromer, Howard; Lawner, Leslie; Memari, Tooran; Miller, Terri; Montovano, Steve; Rishe, Frank; Ross, Derrick; Schoen, Mary; Snyder, Brad; Sullivan, Kathleen; Suttabustya, Buranit; Thome, Jennifer; Truxillo, Wayne; Wininger, James; Ader, Jeff; Anderson, Jonathan; Anderson, Meriwether; Bachmeier, Rick; Bernstein, Eitan; Bernstein, Mark; Bertin, Suzanne; Bolton, Stacey; Chan, Stella; Duda, Geoff; Galow, Gary; Hammond, Pearce; Jackson, Robert; Kazibwe, Julia; Keene, Patrick; Kingerski, Harry; Kosnaski, Andrew; Lopez, Yolanda; Meigs, Mark; Ogenyi, Gloria; Steffes, James D.; Boston, Roy; Bray, Peter; Collins, Joan; Hueter, Barbara A.; Landwehr, Susan M.; Lassere, Donald; Migden, Janine; Stroup, Kerry; Covino, Susan; Magruder, Kathleen; Merola, Becky; Reichelderfer, Thomas; Sandherr, Cynthia Subject: FERC exceeded jurisdiction w/RTO say consumer groups FERC Exceeded Jurisdiction With RTO Order - Consumer Grps Aug. 14, 2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) (This article was originally published Monday) NEW YORK -(Dow Jones)- New England consumer advocates Monday said federal energy regulators overstepped their jurisdiction in ordering the consolidation of the wholesale electricity markets and transmission systems in the northeast U.S. The Federal Energy Commission in mid-July directed operators of the power grids in New York, New England and the Mid-Atlantic to merge, as part of a sweeping series of orders designed to put control of the country's transmission system in independent hands. Federal law allows the Federal Energy Regulatory Commission to require transmission systems to connect, but only at the request of a state regulators, according to a filing made by Maine law firm on behalf of consumer groups, nonprofit energy groups and the attorney general of Massachusetts. "The Commission makes no claim in the New England Order that it is acting at the behest of a state commission or public utility, and is, therefore, without authority to mandate the involuntary combination of the Northeastern RTOs," the groups said in their filing, which asked FERC to reconsider its consolidation decision. FERC should give the three Northeast grid operators a transition period to evolve into three regional transmission organization, or RTOs, with similar market designs, transmission tariffs and governance structures before requiring them to merge, the filing said. The commission directed the operators of the wholesale power grid in New England, New York and the Mid-Atlantic to meet with utilities, generators, trade groups, state regulators and a FERC judge in Washington for 45 days beginning July 19 to outline plans for creating one transmission organization from Washington, D.C., to Maine. The regulators also directed Judge Peter Young to submit recommendation to them 10 days after the conclusion of the talks. The commission ordered the consolidation of the Northeast power grid "at breakneck speed" without studying the technical feasibility of creating one RTO and without analyzing the costs and benefits of merging, the consumer groups said in their filing. Young has directed meeting participants not to discuss the substance of the negotiations, but sources familiar with the talks said the group is outlining a business model describing how to structure a Northeast RTO without filling in the details. Participants have said, for example, that this regional market should have one transmission tariff and one interconnection standard, but haven't defined what that tariff and standard should be. "Many people are very discouraged by the ongoing talks," said Anthony Buxton, an attorney with the Maine law firm that submitted Monday's filing. All 300 meeting participants have been gathering in Washington twice a week and have been working on the issues every day outside of those meetings, Young said. Next week, they will break off into smaller groups and begin meeting every day, according to Young and market participants. The commission was in turmoil when it issued its RTO decision, as evidenced by Chairman Curt Hebert's resignation last week, and should therefore reconsider its order, Buxton said. The consumer groups also asked the commission to allow residential electricity users to have a say in how the unified electricity market in the northeast U.S. will run. Market participants, including consumers, will have an advisory capacity only in this new market and won't be allowed to vote on the rules that govern the market, as they do now, Buxton said. This decision contradicted another one FERC issued in 1996 requiring utilities to open their transmission lines to competitors. In that order, the commission encouraged New England to create an independent system operator to oversee the power grid and to give market participants equal say in determining how this regional transmission system and electricity market would operate The consumer groups that filed Monday are working to galvanize other organizations representing residential customers in New England, Buxton said. "Consumers are going to be at the forefront of a massive attack on FERC for what it's done," Buxton said. -By Kristen McNamara, Dow Jones Newswires; 201-938-2061; kristen.mcna <mailto:[email protected]> 713-853-9287 888-703-0309
In This Email: The Valentine's Day Countdown Has Begun Great Wines and Gifts Two Weeks to ZAP Mania Wine Team Picks The Valentine's Day Countdown Has Begun Although you might have gotten the impression the holidays were over, the most important day of the year for lovers is just around the corner. At wine.com, we believe that fine wine -- and the surrender to the senses that it invites -- is love, so in anticipation of the (more-rapidly-approaching-than-you-think) date of February 14, we've officially opened our Valentine Shop. In it, you'll find all kinds of romantic gift packages, suggestive sweets, personalized wine labels, and ... oh, yes, special wines from all over the world, arranged in amorous combinations. Browse the shop now, and you'll be sure to score a hit when V-Day arrives on your doorstep. To learn more about each item listed below, simply click on its name. _____________________________________________________________________ Great Wines and Gifts 1998 Ivan Tamas Zinfandel, Livermore Valley, California, $8.95 An outstanding, fruit-filled Zinfandel produced from old-vine grapes grown in Northern California's historic Livermore Valley. Intense raspberry and dark cherry fruit flavors with black pepper aromas; medium-bodied, with nice depth and concentration. 1997 Adella Zinfandel, Napa Valley, California, $14.99 A big mouthful of a Napa Zin that still offers supple smoothness and easy drinkability. The addition of Sangiovese and Syrah gives the wine extra body, depth, and flavor. A perfectly targeted Zinfandel that hits the palate right in the bull's-eye. Port and Chocolate Cigars, $30.00 This soothing tawny port from Tuke Holdsworth is a great way to take the chill out of a cool winter evening. Paired with luscious chocolate cigars, it inspires warm feelings all through the winter. Packaged on a sparkling silver plated bottle coaster. Romantic Duet, $35.00 When it comes to attractive matches, this international couple - a rich, toe-tingling French bubbly (originally blended for Czar Nicholas II of Russia) and a graceful, supple Napa Valley Merlot - is not only glamorous, but also harmonious. 1997 Sonora TC Vineyard, 'Old Vine Zinfandel', Sierra Foothills, $24.00 Big and foward in style with tons of intense fruit and firm tannins. Classic Sierra Foothills Zinfandel from a 90 year old vineyard. If Sonora's two Zins were singing in the choir, "TC Vineyard" would be singing baritone and "Story Vineyard" tenor. 1999 Left Bank Macon-Ige Vieilles Vignes, Burgundy, France, $12.00 Clean and direct, this friendly wine is sure to please anyone tired of oaky Chardonnay. Sold exclusively at the popular Left Bank restaurants in the San Francisco Bay Area and through wine.com, it's made in an easy-to-drink style, perfect for bistro food: big, soft, pale-straw in color, with aromas of green apple, hay, and lime. _____________________________________________________________________ Two Weeks to ZAP Mania Now is a time of year when Zinfandel lovers find themselves salivating even more profusely than usual. Such Pavlovian symptoms are observable with the approach of January 27, the date of the upcoming ZAP tasting in San Francisco. ZAP (Zinfandel Advocates and Producers) was formed by a group of impassioned wine producers in 1992 to raise awareness of Zinfandel and promote it as America's "native" wine. Like other members of the Vitis vinifera family, Zinfandel's origins lie somewhere in Europe, but nobody has been able to determine exactly where; DNA testing has shown the grape to be identical to the Primitivo of southern Italy, but it's documented in the United States earlier than it can be traced to Italy. Zinfandel has been grown and vinified in California since the mid-19th century, establishing it as America's contribution to the world of fine wine. While Zinfandel's fortunes have risen and fallen since its arrival in the New World 150 years ago, it's always been a grape and wine that inspired feverish loyalty. Now, as the 21st century commences, Zin seems to have it both ways: It's enjoying an unprecedented level of popularity and prestige, but its adherents still have the warm-and-cozy feeling of cult membership. This phenomenon is on lavish display at the annual ZAP tasting, a boisterous party that traditionally takes place on the Saturday before the Super Bowl. Certified in the Guinness Book of World Records as the world's biggest one-varietal wine tasting, the event attracted more than 200 wineries and 6,000 wine lovers last year. This time, for its 10th anniversary, it's being conducted in two different buildings at San Francisco's Fort Mason Center. Advance tickets cost $35 for ZAP members and $45 for non-members, with a limited amount available at the door for $50 on the day of the event. If you can't make it to the tasting, another easy way to sample the state of Zin is wine.com's selection of Zinfandel in all its forms and guises. _____________________________________________________________________ Wine Team Picks: Lisa Doenecke on Splashy Sparklers and Other Spritzy Delights This is probably one of my favorite categories, so my list came quickly and easily. Sparkling wine and Champagne can be enjoyed on any occasion, with no other reason than pure and simple pleasure. So indulge with these special treats! Meyer-Fonne Cremant d'Alsace Brut Extra, France, $12.00 Dom. Chandon Fleur de Vigne, California, $14.00 Ayala Brut Champagne, France, $28.00 Nicolas Feuillatte 1er Cru Brut Champagne, France, $34.00 Laurent Perrier Ultra-Brut Champagne, France, $54.00 _____________________________________________________________________ TO UNSUBSCRIBE FROM THIS NEWSLETTER, go to: http://wine1.m0.net/m/u/vin/vv.asp?e=jdasovic%40enron.com
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NYT article today. Gary -----Original Message----- From: Willis, Erin Sent: Wednesday, October 24, 2001 7:22 AM To: Litton, Todd; Hickerson, Gary; Durst, Philip; Kendall, Heather; Romain, Danielle Subject: NYT: Enron Tries to Dismiss Finance Doubts October 24, 2001 Enron Tries to Dismiss Finance Doubts By FLOYD NORRIS Enron (news/quote) has ample access to cash, the company's chief executive said yesterday as he assured investors that there was no need for additional write-offs stemming from unusual financing activities. In a conference call with investors that was hastily scheduled after Enron's stock plunged on Monday, the chief executive, Kenneth W. Lay, strongly defended the company's chief financial officer and said there was no conflict of interest involved in transactions that the Securities and Exchange Commission was looking into. But he refused to go into detail on the transaction that Enron made with partnerships run by Andrew S. Fastow, the chief financial officer. In addition, Mr. Fastow, while declaring that Enron "expects to continue to have sufficient liquidity to meet normal obligations," declined to answer any questions about it. The conference call, which began just as trading opened on the New York Stock Exchange, at first seemed to be reassuring investors. Within minutes of the beginning of the call, the share price rallied to $23.25. But it soon began falling, and ended the day down 86 cents, at $19.79. The day's low of $19.62 was the lowest since Jan. 12, 1998, and was down 78 percent from the high set by the stock in the summer of 2000. Until recently, most investors focused on the company's reported operating earnings, which showed good results as it became a leading player in energy markets. But the focus has shifted to a series of transactions, some involving off-balance- sheet financing. One, involving partnerships controlled by Mr. Fastow, led to a $1.2 billion reduction in shareholder equity that raised concern last week and led to S.E.C. inquiries that the company disclosed on Monday. One of the company's strongest supporters has been David Fleischer, an analyst at Goldman, Sachs. But he told Mr. Lay on the call yesterday that Enron had to be more forthcoming with information. "There is an appearance that you are hiding something," he said. After the call, Mr. Fleischer expressed disappointment. "They've engaged in a number of transactions that one wonders about, and that are hard to understand," he said in an interview. "They have not been as forthcoming in explaining them" as is needed, he said. But he said he was still recommending the stock. "I don't think accountants and auditors would have allowed total shenanigans," he said. "In the absence of total shenanigans going on at this company, there is tremendous value here." Mr. Lay cited the S.E.C. inquiries as a reason for not discussing details on the transactions involving the partnerships that were controlled by Mr. Fastow. But he emphasized that both he and the company's board "continue to have the highest faith and confidence in Andy." Mr. Lay said that auditors from Arthur Andersen had carefully reviewed Enron's reporting in conjunction with another off-balance-sheet vehicle, called Marlin. That company owns one-third of Azurix (news/quote), an Enron subsidiary that owns Wessex, a British water utility. The auditors "have determined there is no write-down required," he said under questioning by Richard Grubman of Highfields Capital Management, a money management firm. Mr. Grubman said that Marlin owed almost $1 billion on debt that was guaranteed by Enron but had no assets other than the Azurix stake. Noting that Enron had paid about $300 million to buy a third of Azurix from public shareholders and had since taken write-downs on its investment in Azurix, Mr. Grubman asked why the company was not setting up reserves to cover its exposure on that debt, which under a complicated arrangement could end up being satisfied through the issuance of Enron shares. Mr. Lay said that no action was needed but declined to address details. Eventually he cut off Mr. Grubman. "I know you're trying to drive the stock price down, and you've done a pretty good job of it," Mr. Lay said. "But let's move on to the next question." Mr. Fastow said the company was having no problem issuing commercial paper and had $1.85 billion in such debt outstanding. He said it was backed by $3.35 billion in bank lines of credit, of which $1.75 billion will expire next May if it is not renewed. Mr. Lay said he was sorry about "the misunderstanding" that resulted when his brief mention of the $1.2 billion reduction in shareholder equity in a conference call last week was not noticed by some analysts. That reduction would have been apparent if the company had released its balance sheet with the earnings report, but it did not. He said the company would consider releasing balance sheets with earnings reports in the future, but made no promises. The large reduction in shareholder equity did not affect reported earnings, and so was not in the earnings release. But it raised concerns that some of the sophisticated financing techniques used by the company might be effectively keeping losses off the earnings statement. The S.E.C. is expected to look into whether the accounting for that transaction was correct. After one questioner on the call said it would be easier to understand Enron if it released financial statements for the special purpose vehicles that were set up to enter into such transactions as Marlin, Mr. Lay said the company "will look into providing" such statements. Erin Willis Financial Trading Ph: (713) 853-9677 Fx: (713) 646-4810
Please see the PG&E and FERC stories below, provided to me by Bob Weisenmiller. [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN \| CNW ] ------------------------------------------------------------------------ Click Here! Related QuotesPCG 29 3/8 -15/16 delayed 20 mins - disclaimerGet QuotesThursday September 14, 2:04 pm Eastern Time PG&E faces borrowing, write-offs for power costs By Jim Brumm NEW YORK, Sept 14 (Reuters) - This summer's surge in West Coast power prices is causing California's largest utility to seek permission for increased borrowings and consider significant write-offs, its parent company PG&E Corp. told the Securities and Exchange Commission Thursday. PG&E Corp.'s (NYSE:PCG - news) 8K filing also included the company's first disclosure of Monday's talk with New York analysts. The company's stock reacted with one of the larger losses in a soft electric utility group, slipping as low as $29-1/8 Thursday morning before steadying to trade at $29-7/16, off 7/8. The regulated utility subsidiary -- Pacific Gas & Electric Co. -- paid $700 million in unexpected power costs in June and incurred similar charges in July and August, according to spokesman Greg Pruett. PG&E's 8K filing noted the utility has authority from the California Public Utility Commission to issue of to $1.7 billion of short-term financing. Last Friday, the filing continued, it applied to the commission for the authority to issue an additional $1.4 billion of short-term financing. It also said the utility is considering the sale of additional long-term debt to finance wholesale power purchase costs and its other capital requirements. As noted by several security analysts, PG&E chief executive Robert Glynn told the New York meeting the utility wants to boost power rates as soon as possible to recover the surging costs the company has been forced to pay to buy electricity in California's chaotic wholesale power market. Other analysts also point out the utility is facing the possibility of significant write-offs for power costs it will be unable to collect. In the 8K filing, PG&E said ``if the utility determines that its uncollected wholesale power purchase costs are not probable of recovery, then the utility would be required to write off the unrecoverable portion.'' ABN AMRO utility analysts that attended Monday's meeting said PG&E estimates the summer price surge has created an additional $1.2 billion of stranded cost on top of the existing yet to be recovered stranded cost on its balance sheet of $4.4 billion. The $4.4 billion total includes unrecovered transition costs of $3.0 billion, which the 8K said could also reduce future earnings. ``A worst case scenario,'' according to ABN AMRO, would be ``a $3.2 billion net, or $8.50 per share, write-off of unrecoverable stranded cost'' if the present high power prices continue to the end California's transition to a deregulated power market. Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN \| CNW ] ------------------------------------------------------------------------ Click Here! Related QuotesSRE 20 +0 delayed 20 mins - disclaimerGet QuotesThursday September 14, 5:04 pm Eastern Time FERC chairman says deregulation should proceed WASHINGTON, Sept 14 (Reuters) - U.S. Federal Energy Regulatory Commission Chairman James Hoecker said Thursday that California's troubled power markets should force tough changes to make deregulation work better, not end the movement. Speaking at the commission's regular meeting, Hoecker and the three other FERC commissioners reiterated their support for deregulation, but said the experience in California, where prices spiked considerably for residents of San Diego and on wholesale markets, must result in new policies. ``I personally reject the notion that this is the beginning of the end for deregulation,'' Hoecker said. FERC conducted a hearing in San Diego on Tuesday, allowing discussion from utilities, regulators and the public on what has become a disastrous summer for California's power markets. Under the terms of the deregulation of California's electric utility industry, customers of Sempra Energy (NYSE:SRE - news) subsidiary San Diego Gas and Electric became the first in the nation to pay market-based rates without a safety net. Hoecker said now ``was the time to make tough decisions'' on retooling deregulation laws to make them work better. FERC Commissioner Curt Hebert said the problem is not just in California, but also in New York and New England, where structural problems with deregulation efforts have triggered market power, price, supply and reliability concerns. Many California and national lawmakers want FERC to declare that rates set by suppliers this summer were not ``just and reasonable'' as required under law. Such a declaration could be followed by action to impose market restrictions such as price caps across the western U.S.. Experts say such a move could lead to the demise of the California Power Exchange, which was set up as part of the deregulationof the state's power industry. Twenty-four states and the District of Columbia have enacted laws to open retail electricity markets to competition. A report on the California price spikes this summer by FERC investigative staff is due to be received by the commission by Nov. 1. Email this story - View most popular stories emailed Karen Edson [email protected] 916/552-7070
Jim, please see me about this issue. As you can see, Leslie and I have been working extensively with Stephanie Miller for the last few weeks as she is trying to find a way to get rid of our 200,000 MMBtu/day of Block 2 capacity on El Paso. In fact, I provided Stephanie an analysis of the regulatory history as far back as last March, even before we signed up for the capacity. You will probably be getting some questions about it from Barry or maybe even Lavarato before too long since getting rid of this asset is very high on their priority list. I wanted you to be up to speed on our input so far. -----Original Message----- From: Lawner, Leslie Sent: Wednesday, September 05, 2001 12:40 PM To: Cantrell, Rebecca W.; Miller, Stephanie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 The CPUC was heavily involved in the settlement and their interest is making sure that northern CA has access to the SJ supplies. Their concern is not the same as PG&E's. And to the extent anything is agreed to, reopening the settlement is an enormous can of worms, and I don't think we want to go there. We would have to be able to structure a side deal to where PG&E and SoCal are in agreement that the recall rights they got in the settlement can be waived. -----Original Message----- From: Cantrell, Rebecca W. Sent: Wednesday, September 05, 2001 11:23 AM To: Miller, Stephanie Cc: Lawner, Leslie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 Steph - Leslie and I were just talking about this, and one thing we need to keep in mind is that any attempt to modify the PG&E recall rights would almost certainly be opposed by the CPUC, especially if it was to benefit Enron. -----Original Message----- From: Lawner, Leslie Sent: Wednesday, September 05, 2001 12:07 PM To: Miller, Stephanie Cc: Cantrell, Rebecca W. Subject: FW: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 I thought you understood from my email and phone call that I was going to track down El Paso's interpretation of the 24 hours recall rights. Regulatory treatment of the 58 million by PG&E is a CPUC issue. I just talked to Becky and I don't have a good response to the question of whether our capacity could replace expansion capacity in light of the dueling recall rights, but I will think about it and talk to Becky some more. -----Original Message----- From: Lawner, Leslie Sent: Tuesday, September 04, 2001 11:04 AM To: Miller, Stephanie Cc: Cantrell, Rebecca W. Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 As to the 24-hour recall, I can only tell you what the FERC order says, I have no special knowledge of how El Paso and the parties intended the 24 recall to work. The order is fairly terse, and just says "and if it so recalled (by PG&E), that Enron may further recall the capacity for its own use in the PG&E service territory upon 24 hours notice." The language says to me that you can recall it 24 hours before you want to use it. However, I can call El Paso and find out how they interpret it. As to the "traditional rate making" valuation of the $58 million, I have to confess I don't understand what you mean. PG&E paid the 58 million as part of a negotiated settlement. Typically that is part of a black box settlement, meaning that revenue dollars are not tracked to particular costs. We can pull the settlement and see if it stipulates some sort of treatment, but I would doubt it. If your question relates to how PG&E is tracking that expense in a regulatory sense, perhaps Jeff Dasovich can find out. -----Original Message----- From: Miller, Stephanie Sent: Tuesday, September 04, 2001 8:17 AM To: Lawner, Leslie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 When is the 24 hour notice on re-recall effective - 24 hours from the day of recall (varies depending on term) or 24 hours before the recall is supposed to start? How would you value what's left of the $58 million that PG&E paid based upon traditional rate making policies? I believe there are at least 5 years left on the term of the settlement. Please call if you have any questions, Regards, Stephanie -----Original Message----- From: Lawner, Leslie Sent: Thursday, August 30, 2001 1:19 PM To: Miller, Stephanie; Cantrell, Rebecca W. Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 Here is a short memo. do you need more? << File: Stephaniememo.doc >> -----Original Message----- From: Miller, Stephanie Sent: Thursday, August 30, 2001 11:28 AM To: Lawner, Leslie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 We you able to pull together a clear, definitive conclusion on how the RE-recall rights work? I was not able to - hence my mission for greater clarification of specifics.... -----Original Message----- From: Lawner, Leslie Sent: Thursday, August 30, 2001 12:26 PM To: Miller, Stephanie; Cantrell, Rebecca W. Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 I looked over all the orders and the contracts and I agree with both of your interpretation of the recall rights of Block II. PG&E did not make a very smart deal for $58 million. -----Original Message----- From: Miller, Stephanie Sent: Friday, August 24, 2001 8:27 AM To: Cantrell, Rebecca W.; Lawner, Leslie Subject: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 Page 12 talks about Recall rights - good discussion but still short on re-recall rights.
TODAY'S HEADLINES The New York Times on the Web Wednesday, May 9, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "Classically, the eyewitness is the king of the trial process. It was very hard for the courts to say scientific inquiry could call into question a person who has direct evidence to give." - PROF. PAUL G. CHEVIGNY, of New York University, on a state ruling about challenges to eyewitness testimony. Full Story: http://www.nytimes.com/2001/05/09/nyregion/09WITN.html NATIONAL ========================= Gains Found for the Poor in Rigorous Preschool http://www.nytimes.com/2001/05/09/national/09SCHO.html In Study of Nation's Worst Traffic, New York Must Yield http://www.nytimes.com/2001/05/09/national/09TRAF.html Bomb's Effects Linger Along Road to Infamy http://www.nytimes.com/2001/05/09/national/09ROUT.html Bargaining Is Under Way in Spying Case of F.B.I. Man http://www.nytimes.com/2001/05/09/national/09SPY.html /--------------------- ADVERTISEMENT ---------------------\ Unique Mother's Day Gift Idea! Get her a Rio500 MP3 Player for $49* and each month she can download any two audiobooks for only $12.95. Now she can enjoy listening to her favorite books without using those silly looking bifocals. Plus, she will be the "coolest" mom or grandmom on the block. MP3 Player - they're not just for music anymore. http://www.audible.com/nyt/feboffer3 \---------------------------------------------------------/ POLITICS ========================= Blacks and Hispanics in House Balk on Campaign Finance Bill http://www.nytimes.com/2001/05/09/politics/09DONA.html Impeachment Figure in Line for Drug Enforcement Post http://www.nytimes.com/2001/05/09/politics/09DRUG.html Bush to Nominate 11 to Judgeships http://www.nytimes.com/2001/05/09/politics/09JUDG.html House Threatens to Hold Back U.N. Dues for Loss of Seat http://www.nytimes.com/2001/05/09/world/09NATI.html INTERNATIONAL ========================= House Threatens to Hold Back U.N. Dues for Loss of Seat http://www.nytimes.com/2001/05/09/world/09NATI.html Military Analysis: U.S. Weighing Future of Arms Pacts http://www.nytimes.com/2001/05/09/world/09ARMS.html Rumsfeld Plan Skirts Call for Stationing Arms in Space http://www.nytimes.com/2001/05/09/world/09SPAC.html China Says It Won't Let U.S. Spy Plane Fly Home http://www.nytimes.com/2001/05/09/world/09PLAN.html BUSINESS ========================= Utility Says Prices of Gas Were Inflated http://www.nytimes.com/2001/05/09/business/09GAS.html Management: Telecommuting's Big Experiment http://www.nytimes.com/2001/05/09/technology/09TELE.html Northrop Grumman Joins Bidding for Shipbuilder http://www.nytimes.com/2001/05/09/business/09SHIP.html After 6 Years, First-Quarter Productivity Fell in U.S. http://www.nytimes.com/2001/05/09/business/09ECON.html TECHNOLOGY ========================= Cisco Takes $3 Billion Charge and Posts Its First Loss http://www.nytimes.com/2001/05/09/technology/09CISC.html Management: Telecommuting's Big Experiment http://www.nytimes.com/2001/05/09/technology/09TELE.html Comcast Shows Profit as Customer Base Surges http://www.nytimes.com/2001/05/09/technology/09CABL.html Education: School District Buys 23,000 Laptops http://www.nytimes.com/2001/05/08/technology/09EDUCATION.html NEW YORK REGION ========================= Despite Denial, Torricelli Helped in Donor's Deal http://www.nytimes.com/2001/05/09/politics/09INQU.html Court Opens Door to Data on Eyewitness Fallibility http://www.nytimes.com/2001/05/09/nyregion/09WITN.html Tales of New York Divorce: Breakups and the Turf Wars http://www.nytimes.com/2001/05/09/nyregion/09DIVO.html Sharpton Gives Ferrer a List of Conditions http://www.nytimes.com/2001/05/09/nyregion/09MAYO.html SPORTS ========================= Twins' Milton and Guzman Tame Yankees http://www.nytimes.com/2001/05/09/sports/09YANK.html Baseball, Not Revenge, in the Bronx http://www.nytimes.com/2001/05/09/sports/09VECS.html Mets' Starters Find It's Not Pretty at Coors Field http://www.nytimes.com/2001/05/09/sports/09METS.html Johnson Is Third Pitcher to Strike Out 20 http://www.nytimes.com/aponline/sports/AP-BBN-Reds-Diamondbacks.html ARTS ========================= Latin Cinema Is Finding Its Voice http://www.nytimes.com/2001/05/09/arts/09LATI.html A New Show at the Apollo Raises Hopes in Harlem http://www.nytimes.com/2001/05/09/arts/09APOL.html 'About Adam': Adam Romances Eve and Her Sisters http://www.nytimes.com/2001/05/09/arts/09ADAM.html 'Conquistadors': PBS Examines the Spanish Invasion of the New World http://www.nytimes.com/2001/05/09/arts/09GENZ.html OP-ED COLUMNISTS ========================= By PAUL KRUGMAN: The Unrefined Truth A look at the causes of the current gasoline shortage suggests that conservation ought to be a major element in our energy strategy. http://www.nytimes.com/2001/05/09/opinion/09KRUG.html By MAUREEN DOWD: Donna, Prima Donna The mayor of New York City and his wife are locked in a titanic twilight struggle over a house they don't even own. http://www.nytimes.com/2001/05/09/opinion/09DOWD.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at [email protected] or visit our online media kit at http://www.nytimes.com/adinfo
Tana/Karen/Kelly: Credit (Tom Moran) has approved copying the profiles for the following new product types; US Newsprint Fin Swap, US Packaging Fin Swap, US Recycled ONP#8 Fin Swap and US Recycled OCC #11 Fin Swap from the following: US Paper Fin Swap Credit (Tom Moran) has approved copying the profile for the new product type, US OSB Fin Swap, from the following: US Lumber Fin Swap Please respond by 5 p.m. today, Tuesday, March 27. Thank you. Stephanie ---------------------- Forwarded by Stephanie Sever/HOU/ECT on 03/27/2001 02:29 PM --------------------------- Enron North America Corp. From: Kevin Meredith @ ENRON 03/23/2001 08:24 AM To: Jeff Blumenthal/HOU/ECT, Susan Musch/ENRON_DEVELOPMENT, Bjorn Hagelmann/HOU/ECT, Mark Taylor/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Tom Moran/HOU/ECT, Shari Mao/HOU/ECT@ECT, Charlie Hoang/HOU/ECT, Laurie Lee/NA/Enron cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Chris Walker/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT Subject: EOL PRODUCT TYPE APPROVAL for 5 Financial product types (Clickpaper to EOL migration) Your review and approval of the following 5 product types in the EOL Datamanager is needed (for directions on approval , please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 39555. US Newsprint Fin Swap USD/MT/M A US Newsprint Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US Packaging Fin Swap USD/ST/M A US Packaging Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US Recycled ONP #8 Fin Swap USD/ST/M A US Recycled Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US Recycled OCC #11 Fin Swap USD/ST/M A US Recycled Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US OSB Fin Swap USD/MSF A US OSB Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. ============================================================================== ===== STEPS FOR APPROVAL: click the START button select PROGRAMS select TEST APPLICATIONS select ENRONONLINE CLUSTER(PROD) PROCEED WITH USUAL LOGIN/PASSWORD click the Enron Online Production Cluster "START" button select EnronOnLine (this is the EOL Datamanager) PROCEED WITH EOL LOGIN/PASSWORD click on the "+" for EnronOnLine click on the "+" for Product Types click on the "+" for "Awaiting Approval" (OR "Partially Approved") select the product requiring review as stated in e-mail above Right "mouse" click on "properties" to view product set-up TO APPROVE: Right mouse click on "Approved"
Certainly understand the tradition you have with OU/Texas and it would be hard. I imagine David is starting to feel a little cocky, given we should be undefeated going into Texas, but he may still need to seek the shelter of the study, as I know Texas is not going to roll over and play dead. Sounds like Meagan has a full agenda this Fall and a trip to Norman would only get in the way. I'm sure David will not let the fire die, if she is truly interested in OU. FYI, OU's Spring Break is March 17-25 next year. So you can plan accordingly. Let me know if you decide when you decide to come up and I can get you lined up with Prospective Student Services for a tour. Also, I remember you telling me about your concerns about grades. I know that OU requires a 24 on the ACT, or finish in the top 1/3 of your graduating class. It is my understanding that will soon be increasing to 26 or top 30% of graduating class. Looks like OU is following UT on tightening entrance requirements. I can get you shirts caps, sweatshirts, etc. for OU, UT and Tech. You can go to Bigtimesports.com and look at the styles. I think they are also in the school colors. If you see a style you like, let me know the size shape and school and I can order it. If some of it is for you, let me know, as they have different styles for women. Also, I can have logo's etc. reduced (like I did on your Bevo on your shirt) so they are not so big. I always have them reduce the OU from 1 3/4" to a 1 1/4" size, so I don't look like a "poster boy" for OU. Anyway, let me know and I will order them for you. Let me know when you hear back from Lexi about your discussion relative to summer internship recruiting. Ted K. Jacobs Director of Energy Management The University of Oklahoma 307 West Brooks, Room 218 Norman, OK 73019-4007 (405)325-0758 Fax (405)325-2096 E-mail: [email protected] Website: www.ou.edu/business/em -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Monday, September 25, 2000 1:23 PM To: Jacobs, Ted K Subject: RE: Oklahoma Trip Thanks for looking into the OU/Texas tickets for us. With the ages of the kids, I think that we will pass on those single tickets. The kids love our home tradition for the game, and weren't sure that they wanted to give that up. (I have cake pans in the shape of the state of Texas and the state of Oklahoma - one daugther decorates one, and the other decorates the second cake - add some bean dip and chips and it's our own version of a tailgate party!) We were hoping to bring Meagan up to look at OU this fall, with our eye on that last game of the season. However, Klein High School has started the football season very strongly, winning all games to date. That means that we may be headed for high school playoffs again this year. Meagan is on the drill team and must be at all games. Last year, we played right up to Thanksgiving in the playoffs. So, we have decided to pick a weekend in the spring after drill team contest season is over to make that trip with Meagan. We are interested in caps, shirts, etc. for UT, OU and Texas Tech. Do you have a list of what is available for those schools? "Jacobs, Ted K" <[email protected]> on 09/23/2000 03:07:11 PM To: "'[email protected]'" <[email protected]> cc: Subject: RE: Oklahoma Trip Thanks for the nice words. I hope Enron will be able to look at some students for summer internships, as I am sure they will be gone by Spring. As far as Texas tickets go, I can come up with 5 singles, but not 5 together or even 3 and 2. Let me know if interested and I will try to get them. Might be able to trade up or something. Let me know what other schools you are talking about and I can find out for you. Again, thank you for taking time out your schedule to come up and be a part of the OU recruiting effort. It has been your support and efforts that we have to thank for Enron coming to OU. Keep me posted on what you work out with HR with regards to summer interns. "Hook Em" Ted K. Jacobs Director of Energy Management The University of Oklahoma 307 West Brooks, Room 218 Norman, OK 73019-4007 (405)325-0758 Fax (405)325-2096 E-mail: [email protected] Website: www.ou.edu/business/em -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Friday, September 22, 2000 5:30 PM To: Jacobs, Ted K Subject: Oklahoma Trip It was good to see you in Norman earlier this week. As always, I appreciated your attendance at the presentation and at Coach's afterwards. I am sure that it is rewarding for you to see former students such as Jody and Nate participating on the other side of the recruiting table. You have done a great job in changing and promoting the program. I am pushing Lexi to resolve the question around interview dates for summer interns ASAP. I have also left Mike McConnell a message to make him aware of the issue. I should be able to get back with you next week, hopefully with a change in our strategy! If you do become aware of five OU /Texas tickets, please let me know. We will certainly purchase them, I just made the assumption that all tickets may already be sold. On another note, David has worn his OU shirt to work and has gotten lots of compliments. He has a number of people that have asked him about school shirts, caps, etc. Do you have a list of the schools that you can get merchandise for and the types of merchandise that you can get? Let me know -- we can probably place a few orders through you!
FYI - This is to update you on several CA bills that may have implications for green energy/renewables. Bills previously discussed SBX2 78 Status: Last night the bill was approved by the State Assembly. Will be returned to Senate for reconciliation. Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sbx2_78&sess=CUR&house=B&site=sen> SB 532 Status: Heard by Assembly Utilities and Commerce Ctte., failed passage Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sb_532&sess=CUR&house=B&site=sen> "Windfall profits tax" bills: Generally, these bills impose a tax on electricity sales beyond a specified baseline price (see article below for more detail). Note the exemptions: SBX2 1 Status: Expected to be heard by Assembly floor on Monday Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sbx2_1&sess=CUR&house=B&site=sen> Exemptions include: "generators of renewable energy sources, as defined, qualifying small production facilities, or qualifying cogeneration facilities. In addition, this bill would not apply to sales of electricity made by local publicly owned utilties made under specified conditions or to generation units used to serve the electrical load of a generation facility" ABX2 2 Status: Expected to be considered by State Assembly today. If it passes, it will go back to the Senate. Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=abx2_2&sess=CUR&house=B&site=sen> Exemptions include: "...the tax imposed under this part shall not apply to sales of electricity, sold for consumption in this state, made by qualifying facilities. (c) For purposes of this section, the term "qualifying facilities" includes qualifying small power production facilities or qualifying cogeneration facilities within the meaning of Sections 201 and 210 of Title II of the federal Public Utility Regulatory Policies Act of 1978 (16 U.S.C. Secs. 796(17), 796(18), 824a-3), and the regulations adopted pursuant to those sections by the Federal Energy Regulatory Commission (18 C.F.R. Secs. 292.01 to 292.602, inclusive), and other generation units installed, operated, and maintained at a customer site exclusively to serve that facility's load. ****************** 2 Elec Profits Tax Bills On The Move In Calif Assembly By Jessica Berthold 09/06/2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) OF DOW JONES NEWSWIRES LOS ANGELES (Dow Jones)--The California Assembly is to consider a bill Friday to place a progressive tax on electricity sales in California , the second windfall profits tax measure to be heard by legislators in a week. Under Assembly Bill 2XX, introduced by Assemblywoman Ellen Corbett, D-San Leandro, generators wouldn't be taxed on power priced below $60 per megawatt-hour. Prices above $60/MWh would be subject to a gradually increasing tax. The first $30 charged by suppliers over the $60/MWh baseline would be taxed at a 50% rate. The next $30 would be taxed at 70%. Anything higher would be taxed at 90%. The tax would be retroactive to Jan. 1, 2001 and effective through 2005. Tax proceeds would be used to fund a state sales tax holiday on the first weekend in December. Alternative energy suppliers, or "qualifying facilities," as well as self-generators, would be exempt from the tax. Any excess receipts after the sales tax holiday would be used to provide tax credits to companies for building new generation. "AB 2XX will help Californians recoup and regain financial footing in an economy that is changing very quickly," said Corbett. "This measure is a major step for California 's recovery from this year's disastrous energy crisis." If the bill passes the Assembly floor, it will move to the Senate for committee and floor votes. The legislature is set to adjourn Sept. 14. Similar Bill On Assembly Floor Monday A second windfall profits tax bill is likely to be heard on the Assembly floor Monday, said a spokesman for the bill's sponsor, Sen. Nell Soto, D-Ontario. The bill passed out of the Assembly Appropriations Committee Thursday. The bill, SB 2XX, would require state regulators to establish a cost-based price for electricity for each plant in the state. Sellers would be taxed 100% on any sales from a plant that exceeded its cost-based price, and the money would be used for taxpayer rebates. The cost-based price would include up to a 20% return on invested capital. The tax, which would be effective retroactively to Jan. 1, 2001, would apply to the last sale before electricity hits the power grid, and so would include marketers as well as generators. Co-generation facilities and renewable generators would be exempt, as would some state municipal utilities. The bill has a good chance of passing the Assembly floor, since only a majority vote is required and Democrats dominate the Assembly 50-30, said Soto spokesman Paul Van Dyke. Thus far, the bill has passed the Senate and various committees in the Assembly on strict party lines. If the bill does pass the Assembly floor, it would go back to the Senate for concurrence, and then to the governor's desk to be signed. Van Dyke said he did not know which windfall profits tax bill was more likely to pass out of both houses before the legislature adjourns, nor whether the two might be cobbled together to form one bill. "Our bill is two steps from going to the governor; the other bill has a ways to go," Van Dyke said. "Sometimes two bills on the same issue will pass and go all the way to the governor, and it's up to him to choose." A spokesman for Gov. Gray Davis said last week that he was open to a windfall profits tax bill, but would not indicate which bill he might prefer.
Robert, Absolutely. This is a critical situation. Vince Robert Johnston 01/16/2001 08:02 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Scott Tholan/Corp/Enron@Enron Subject: California Power 1/15/01 Vince- Kristin mentioned that you might be interested in receiving our daily updates on the California situation. Hope that you are doing well and let us know if you require any additional information. RJ ---------------------- Forwarded by Robert Johnston/HOU/ECT on 01/16/2001 08:08 AM --------------------------- Robert Johnston 01/15/2001 09:10 PM To: Michelle D Cisneros/HOU/ECT@ECT cc: Gary Hickerson/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Jaime Gualy/NA/Enron@Enron, John Greene/LON/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT, Kristin Walsh/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron Subject: California Power 1/15/01 As talks continued toward the Tuesday deadline markets have been focused on for the California electricity crisis, state officials around Governor Gray Davis have toughened up their rhetoric on a couple of fronts even as they confirmed they would be in the market as early as Tuesday taking bids for energy to be paid by the State of California. One problem on that front is still how much producers want to charge the state for electricity. As we reported last week, Davis and his aides want to pay around $50 to $55 dollars per megawatt hour and suppliers want about $75. Treasury Secretary Summers has suggested an auction as the best way to determine the price, but California officials are taking a less free market approach and still hope to set the price through negotiation over long-term contracts. Our sources in Washington, Sacramento, and California are increasingly of the view that Governor Davis is positioning his government to establish long-term power contracts with the generators that could be passed through to the utilities following a bankruptcy in the near term. This week's legislative activities in Sacramento will create the vehicle to do so. State credit backing purchases of power would obviate the need for super-priority borrowing to finance power purchases after utility bankruptcy. 1. Audit- Untangling Utility Relationships California officials have also toughened their rhetoric on the debt repayment front as they say results from a preliminary audit show that half of the $9 to $12 billion the utilities say they owe is actually owed to themselves for power they bought from their corporate relations This strange situation is due to the fact that one holding company owns both the power-generating and power-distributing companies under a holding company umbrella. Of course, that means that some of the power PG&E and Southern California Edison bought at highly inflated prices was bought from themselves. But it was not all bad news in the tense negotiations. Sources confirm that Davis increasingly understood that the state finance role was a crucial part of any potential solution. He told our sources this afternoon that he is willing to use state credit to eliminate the "risky debt" premium that PG&E and SCE are being charged by suppliers because of their shaky finances and that he is willing to extend the current 10% rate increase utility customers are paying far beyond the initial 90-day deadline. In return he is demanding that the companies prepare to "share the burden of debt reduction in return for state help and credit extension." 2. Debt Restructuring- Guarantees, but No Direct State Money Davis also told the videoconference that he believes the $12 billion in back debt owed by the utility companies can be cleared up during a 90-day forbearance period (whether that period has been agreed to by all creditors is not something we are clear about right now). Davis' idea, as he laid it out in the meeting, is to use the forbearance period to securitize the debts and sell them against the utilities' forward rate base or by establishing a medium-term repayment plan backed by continued state guarantees. In both cases the restructured debt would be resolved over a decade without direct use of taxpayer money as the utilities use their positive margins to paydown their debt. One of the reasons Davis wants to stay close to the $50-$55 megawatt charge is that it maximizes the rate at which utilities can pay down this debt. There is a strong chance that Davis will agree to use state guarantees to sweeten the pot at the end of these negotiations, but he remains opposed to using direct state money. This frustrates both Clinton administration and utility creditors, but Davis has not yet shown much flexibility. 3. Eminent Domain/Reregulation Perhaps most frustrating to the Washington DC free market crowd at Treasury and the White House was the continued comfort Davis and his group of political advisers have with "non-market" solutions to the energy crisis. Although the Governor's aides actually believe the weapon is more a "way to force eventual agreement, than an actual solution," the talk returns frequently to these non-market mechanisms. "We have the ultimate weapon to enforce compliance by the Tuesday deadline. If we make no progress. If this thing looks like it will turn into a genuine crisis, then we will use our powers of condemnation and we will re-take the plants and equipment and run them ourselves," a close political aide to Davis said. "We will absorb the plants, the transmission lines and the reserved parking places of the executives. The legislature would agree in a second."
It looks like the Brazilian tax situation will be even more problematic than in Argentina. ---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on 01/05/99 09:30 AM --------------------------- Scott Neal 12/30/98 05:02 PM To: Don Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott Porter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William O Butler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: Brazilian Transaction Taxes FYI. ---------------------- Forwarded by Scott Neal/ENRON_DEVELOPMENT on 12/30/98 02:01 PM --------------------------- Beth Rosen 12/30/98 01:07 PM To: Scott Neal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Jordan Mintz/HOU/ECT@ECT Subject: Re: Brazilian Transaction Taxes Scott: I have provided some comments below in response to your questions regarding Brazil trading activities. About a year ago, Jordan and I went with Brent and others to Sao Paulo to do some preliminary due diligence on Brazil trading issues. At that time there were a number of open issues regarding the legal, regulatory and commercial aspects of conducting trading activities in Brazil that would effect our planning. For example, it was not known whether a Brazil trading office would be considered a financial institution, an important characterization as financial institutions are subject to a different tax regime. In any event, the following should give you a flavor of the regime. I am also sending you under separate cover some general information regarding doing business in brazil: Brazil imposes two gross receipts taxes called Pis and Cofins. The Pis rate is 0.65% and the Cofins rates has just increased from 2% to 3% effective February 1, 1999. Pis/Cofins operate like the Argentine turnover taxes except that Pis/Cofins are federal taxes as compared to Argentina's turnover taxes which are assessed at the provincial level. Strictly speaking, Brazil law considers amounts paid for Pis/Cofins to be "social contributions" and not taxes as the funds are earmarked for certain social welfare programs. As a result, the Pis/Cofins are considered "sacred" and except as outlined below, there are no exemptions or opportunities to avoid payment of Pis/Cofins. There are only two exceptions to the payment of Pis/Cofins. First, export sales by Brazilian companies are not subject to gross receipts taxes. The second exemption is that charitable foundations are exempt from Pis and Cofins. Prior to Brazil's recently introduced tax reform package, financial institutions paid a higher rate of income tax but were exempt from the Cofins tax (Pis was still due). Now, financial institutions must pay Cofins. To mitigate the cascading effect of Pis/Cofins in some of our power project under development, we have looked at, but not implemented, forming consortiums with some of our suppliers (gas suppliers). Under this scenario, a portion of the energy payment is allocated to each supplier who is taxable only on the portion of the tariff to which he contributed. A consortium is a legal arrangement that applies to a specific transaction and specific customers. It may not be compatible in the context of a trading office. Brazil has a value added tax regime which is administered by each state. There can be mismatches between VAT paid and collected depending on the particular jurisdiction in which a commodity is bought and resold. The VAT regimes differs for gas and power trading so we would have to analyze each specific transaction in order to evaluation whether VAT would represent a cost to the Brazil tradeco. I am sending to you some information provided by Arthur Andersen which describes the VAT on sales and re-sales of gas and electricity under several scenarios, I am also checking on whether Brazil imposes any energy specific taxes and will follow up you separately on this issue. Regards and all the best in 1999. Beth To: Beth Rosen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Brazilan Transaction Taxes Beth: I think we have a pretty good handle on these issues with respect to the Pis/Cofins--not pretty and, in fact, a worse scenario than we face in Argentina. Would you communicate to Scott. Thanks. Jordan PS-I must have just missed you today to run-I'm so sorry I couldn't make it, but it was for a very valid reason. ---------------------- Forwarded by Jordan Mintz/HOU/ECT on 12/16/98 12:15 PM --------------------------- From: Scott Neal AT ENRON_DEVELOPMENT@CCMAIL on 12/16/98 02:38 PM To: Jordan Mintz@ECT, Beth Rosen AT ENRON_DEVELOPMENT@CCMAIL cc: Yao Apasu@ECT, "Don Black/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, Scott Porter AT ENRON_DEVELOPMENT@CCMAIL, Brett R Wiggs AT ENRON_DEVELOPMENT@CCMAIL, "Steve Pearlman/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, Randy Young AT ENRON_DEVELOPMENT@CCMAIL, Brent Hendry AT ENRON_DEVELOPMENT@CCMAIL Subject: Brazilan Transaction Taxes Can you give us a briefing on Brazilian transaction taxes? My initial feeling is that we are going face tax issues similar to those we are dealing with in Argentina. We have several deal makers in Sao Paulo that have begun contact potential customers. I think it is important to start the education process now for all of us so that we can 1) determine ways to structure deals to limit tax liability and 2) form a strategy to lobby for changes/reform/exemption. Some initial questions: How are marketing/trading companies activities treated? Are there any energy specific taxes? If turnover/gross receipt tax are applicable, is there any special treatment for trading companies? Are transaction taxes federal, state, or local in nature? Thanks for your help.
---------------------- Forwarded by David M Gagliardi/TTG/HouInd on 08/31/2000 01:38 PM --------------------------- "Michael Gagliardi" <[email protected]> on 08/31/2000 01:10:56 PM To: [email protected], [email protected], [email protected] cc: Subject: True Orange Fax/E-Mail #81 ---------------------- Forwarded by Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC on 08/31/2000 01:19 PM --------------------------- [email protected] on 08/31/2000 12:30:43 PM To: [email protected] cc: (bcc: Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC) Subject: True Orange Fax/E-Mail #81 Several of you sent me e-mails saying you did not get last night's scrimmage report e-mail, so here it is again for everybody. If you already have it, sorry for gumming up your mail box. Jerry True Orange Fax/E-Mail Service Volume 8, Fax/E-Mail #81, Wednesday, August 30, 2000 Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 - Phone 512-795-8536 Horns Have Final Public Scrimmage Before Huge Crowd Coach Mack Brown put the Longhorns through a short, but spirited scrimmage Wednesday night in Royal Memorial Stadium before an enthusiastic crowd UT officials estimated at about 7,500. With the first-team defense sitting out most of the scrimmage, the offenses dominated most of the way. Chris Simms hit 5 of 8 passes for 144 yards, including a 5-yard touchdown pass to freshman sensation Roy Williams, who had set up the score with a great catch of a 50-yard Simms' throw, and a 67-yard TD pass to WR Montrell Flowers off a fake reverse. The first-team offense also scored on a two-yard run by TB Victor Ike, after starting TB Hodges Mitchell set it up with a 50-yard gallop. But QB Major Applewhite led the second-team offense to two touchdowns, hitting 10 of 13 for 173 yards, including scoring tosses of 70 yards to the other sensational freshman WR, B. J. Johnson, and 15 yards to senior Brandon Healy. Applewhite's TD pass to Johnson was a short screen up the middle and Johnson just ran away from all the pursuit. Starting safety Greg Brown intercepted one of Applewhite's throws on the second-team's first possession. Brown still wouldn't give any hint about who will be his starting QB in the season opener next week, but did say both QBs played well. Brown also said, "I was really pleased with the wide receivers. I thought they made some steps in running better routes and making the tough catches." He also said Ike is clearly the No. 2 TB behind Mitchell at this point. Redshirt freshman Ivan Williams had a great spring, but has not been dominating during the current practices. He also has had some nagging injuries. Brown said Ike, the fastest of the tailbacks, has been doing well in practice. "Victor has been doing the best since he's been here," Brown said. "He is doing much better without the ball (blocking) than he has in the past." * * * * Defensive coordinator Carl Reese, who has nine starters back, says he is feeling better about his new defensive ends. "I've got four guys I think can play," Reese said. "Cory Redding and Jermain Anderson are the starters, and Kaelen Thornton has really been doing a good job. He just keeps getting better, so he'll be the first backup for Anderson, and Cole Pittman has had three solid scrimmages in a row, so he'll be the guy behind Redding. I think all four of them will play a lot, and they're the four main ones right now." Thornton, a true freshman, is one of the larger DEs at about 6-3, 270, but Reese said he is "pretty quick out there. He gets a good rush from the edge, and that's what we like. He also is learning to do a better job against the run." He said Pittman, who was moved over from tackle to provide better run support, "has been doing a good job against the run, and he's a pretty good pass rusher, too. I think we'll be okay with those four guys as soon as they get a little more experience." * * * * Brown said the team will have one more open practice and it will be Thursday at 3:30 at Denius Field. Then he plans to give the team three days off to try to let the players recover from the grueling two-a-day workouts. The team will go back to work Monday to get ready for the Saturday opener at 11:30 a.m. against Louisiana-Lafayette. * * * * INJURY UPDATE: Brown said OT Mike Williams suffered a twisted leg in the scrimmage, but he said he didn't think it was serious. * * * * RECRUITING NOTES: The Longhorns still have 13 commitments. DE Eric Hall, 6-3, 225, 4.5, of Clarksville, Tenn., who will take his official visit to Texas the Sept, 9 weekend, rushed 10 times for 102 yards and completed 5 of 7 passes for 106 yards and two TDs to lead his team to a 34-0 victory over Springfield Friday in the season opener for both teams. He plays QB and safety, but said he didn't play any defense after the first half. . . DT Tommie Harris of Killeen Ellison, says Texas is still his top team, and he said he will come to the Louisiana-Lafayette game Dec. 9. "I really like what Mack Brown has been doing since he came to Texas," Harris said. * * * * My next fax will be whenever events warrant. The True Orange Fax Service includes at least 99 faxes a year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes 26 newsletters and is published weekly during football season and twice monthly during most of the other months. It costs $45. Save by subscribing to both for $130 (or $110 if you take the faxes via E-Mail or $99 if you take the faxes and newsletter via E-Mail). Send check to address at the top of page. I also update my 900 number - 1-900-288-8839 - frequently with recruiting news. My E-Mail address is: [email protected]
[IMAGE] GENERATOR/POWER MARKETING FERC Agenda Memo for October 24, 2001 Introduction RTO Week shedded a new light on the pace and direction that the Commission may go in with respect to RTO development. During discussions with the state commission representatives on Thursday, Chairman Wood said with regards to the hard and fast number of RTOs he desired, "the number 4 is officially gone.. if it ever was essentially here." Chairman Wood was very receptive to the recommendations and pleas of the state commissioners and declared that the FERC would take as much time as it needed and that it was "committed to getting the right outcome." With that being said, 5 of the RTO-related proceedings on the agenda for next week's FERC meeting will probably result in extensive discussions encapsulating this week's RTO Week developments and a retreat from a prescriptive order or rulemaking issuing at this time. Commission Agenda: http://www.ferc.fed.us/PUBLIC/ISD/Sunshine.htm If you would like copies of any orders, please do not hesitate to contact us. Below are individual case descriptions. In addition, the Commission will discuss four new "Administrative" issues: A-4 AD02-4 Reliability, Security and Market Operations A-2 AD02-2 Legislative Matters A-3 AD02-3 Customer Matters A-1 AD02-1 Agency Administrative Matters RTO Developments E-1 Discussion of RTO Developments in the Northeast EX02-1-000; RT01-99 PJM; RT01-98 PJM-West; New York ISO RT01-95; Commission discussion on the FERC's ALJ Northeast RTO Mediation Report and comments filed by industry. E-2 Discussion of RTO Developments in the Southeast EX02-2; RT01-100 Gridsouth; RT01-34 Southwest Power Pool; RT01-75 Entergy Services; RT01-77 Southern Company Services - Commission discussion on the FERC's ALJ Southeast RTO Mediation Report and comments filed by industry. E-3 Discussion of RTO Developments In the Midwest EX02-3; RT01-87 Midwest ISO/Alliance; EL01-80 National Grid USA - Commission discussion on RTO developments in the Midwest region. At the last Commission meeting, FERC gave the Midwest ISO a big boost toward the RTO finish line. The discussions with state commissions at this week's RTO week conference may slow down FERC's efforts in mandating RTO structure in the Midwest also. E-4 Discussion of Western Infrastructure Adequacy Conference AD01-2 - Commission discussion on FERC's agenda and scope of the "Adequacy of Western Infrastructure" conference announced at the September 26 Commission meeting and to be held during the Western Governor's Association's meeting on November 2 in Seattle, WA. E-5 Electricity Market Design and Structure RM01-12 - Commission action in response to RTO Week developments and comments filed in the "Electricity Market Design Structure" docket. Market Complaints E-19 San Diego Gas & Electric Co. v. Sellers of Energy EL00-95-034; EL00-98-038 - Order on the CA ISO's compliance filing proposing a new generator outage and maintenance coordination plan. Dynegy and other protesters allege that the CA ISO is attempting to circumvent FERC and "seize control of the outage monitoring" function that is currently FERC' s responsibility and role. E-21 Pacificorp Power Marketing ER01-2685-000 - Order on Pacificorp Power Marketing's request to withdraw its filing of a 10-year power Purchasing Agreement contract with the California Department of Water Resources. Attempting to comply with a Commission order in the Southern Case rescinding waiver and requiring that all long-tern power contacts be filed with the Commission in place of submitting quarterly power marketing reports, Pacificorp filed its long-term contract and later realized that the waiver was still in effect at the time it made the power contract filing. As a result, Pacifcorp filed to withdraw its earlier contract filing. The California Public Utilities Commission filed protest to the withdrawal. E-26 Mirant et al. v. ISO New England, Inc. EL01-93-001 - Order on NSTAR's request for rehearing of the Commission's 8/10/01 order upholding the ISO NE's market rules, which include Market Rule No. 17 affording the ISO NE discretion to negotiate mitigation agreements and enter into market power mitigation contracts with generators. In response to the rehearing request, the ISO NE filed for clarification of this exemption to file mitigation agreements with the FERC, under its discretion granted per the approved market rules. E-30 Calpine Eastern Corp., Mirant et al. v. ISO New England EL01-124-000 - Order on Calpine's complaint against the ISO NE for excluding external energy contracts from its calculation of the energy clearing price for the ISO's market. Tonja Wicks Manager, Energy Supply Policy Alliance of Energy Suppliers Edison Electric Institute Phone: (202) 508-5098 Fax: (202) 508-5600 Fax: (202) 508-5445 ______________________________________________ To subscribe to this list, send an e-mail to [email protected] containing the following information: name, company, title, address, phone, fax and e-mail address. To unsubscribe from this list, send an e-mail to [email protected] containing your name and e-mail address. For more information, please contact the Allaince of Energy Suppliers at [email protected] P-(202) 508-5098 F-(202) 508-5600 Tonja Wicks Manager, Energy Supply Policy Alliance of Energy Suppliers Edison Electric Institute Phone: (202) 508-5098 Fax: (202) 508-5600 Fax: (202) 508-5445 - IMAGE.gif - Tonja Wicks.vcf ********** Several EEI meetings have been postponed or canceled. For more information about a specific meeting, go to ( http://www.eei.org/resources/meetings/postponements.htm )
TODAY'S HEADLINES The New York Times on the Web Thursday, May 10, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "We like living here. It's a beautiful place. The only thing we don't like, you can't make any money to survive. My son is getting straight A's. He's not going to be around here." - FRED PRATT, of Morland, Kan. Full Story: http://www.nytimes.com/2001/05/10/national/10TOWN.html NATIONAL ========================= Bit by Bit, Tiny Morland, Kan., Fades Away http://www.nytimes.com/2001/05/10/national/10TOWN.html U. of Virginia Hit by Scandal Over Cheating http://www.nytimes.com/2001/05/10/national/10CHEA.html Smithsonian Is Promised $38 Million, With Strings http://www.nytimes.com/2001/05/10/national/10SMIT.html Western Governors Turn Focus to Need for More Power Lines http://www.nytimes.com/2001/05/10/national/10GRID.html /--------------------- ADVERTISEMENT ---------------------\ Unique Mother's Day Gift Idea! Get her a Rio500 MP3 Player for $49* and each month she can download any two audiobooks for only $12.95. Now she can enjoy listening to her favorite books without using those silly looking bifocals. Plus, she will be the "coolest" mom or grandmom on the block. MP3 Player - they're not just for music anymore. http://www.audible.com/nyt/feboffer3 \---------------------------------------------------------/ POLITICS ========================= In Show of Unity, House Republicans Pass Budget Bill http://www.nytimes.com/2001/05/10/politics/10HOUS.html Price of Gasoline May Pose Problem for White House http://www.nytimes.com/2001/05/10/politics/10POLI.html White House Asks Unions to Meet on Energy Policy http://www.nytimes.com/2001/05/10/politics/10ENER.html Bush Appeals for Peace on His Picks for the Bench http://www.nytimes.com/2001/05/10/politics/10JUDG.html INTERNATIONAL ========================= Families of Chechnya's Disappeared Seek Answers http://www.nytimes.com/2001/05/10/world/10CHEC.html Mexico's Leader Is Finding the Democratic Road Bumpy http://www.nytimes.com/2001/05/10/world/10FOX.html Death Toll Thought to Top 100 in a Soccer Stampede in Ghana http://www.nytimes.com/2001/05/10/world/10GHAN.html 2 Jewish Teenagers Are Beaten to Death in the West Bank http://www.nytimes.com/2001/05/10/world/10ISRA.html BUSINESS ========================= Suits Accuse Drug Makers of Keeping Generics Off Market http://www.nytimes.com/2001/05/10/business/10DRUG.html Public Ventures Do Private Deals but Sometimes Are Left Bloodied http://www.nytimes.com/2001/05/10/business/10PIPE.html Firm Auditing MicroStrategy Settles Lawsuit http://www.nytimes.com/2001/05/10/business/10AUDI.html Black Sales Agents File Discrimination Suit Against Xerox http://www.nytimes.com/2001/05/10/business/10BIAS.html TECHNOLOGY ========================= Looking Back at My First PC http://www.nytimes.com/2001/05/10/technology/10BLUE.html Hackers Report a Truce http://www.nytimes.com/2001/05/10/technology/10HACK.html Nintendo Grows Up and Goes for the Gross-Out http://www.nytimes.com/2001/05/10/technology/10CONK.html How It Works: Fuel Cells Provide Clean, Reliable (and Pricey) Electricity http://www.nytimes.com/2001/05/10/technology/10HOWW.html NEW YORK REGION ========================= Yellow Cabs Battle Invasion of Their Turf http://www.nytimes.com/2001/05/10/nyregion/10CABS.html Friends Mourn Slain Bronx Girl as Police Investigate http://www.nytimes.com/2001/05/10/nyregion/10GIRL.html Board Allows Rent Increases of 3% and 5% http://www.nytimes.com/2001/05/10/nyregion/10RENT.html Ferrer Refuses Endorsement Linked to Race http://www.nytimes.com/2001/05/10/nyregion/10MAYO.html SPORTS ========================= Devils Beat Toronto to Advance http://www.nytimes.com/2001/05/10/sports/10DEVI.html Niedermayer Shouldn't Have Played in Devils Game, and He Didn't http://www.nytimes.com/2001/05/10/sports/10ANDE.html A Masterful Clemens Nibbles at a No-Hitter http://www.nytimes.com/2001/05/10/sports/10YANK.html This Time, It's Iverson's Turn to Light the Fire http://www.nytimes.com/2001/05/10/sports/10SIXE.html ARTS ========================= Christopher Wheeldon, City Ballet's Meteor, Lights Up the Mirror http://www.nytimes.com/2001/05/10/arts/10WHEE.html Ken Kesey, Checking In on His Famous Nest http://www.nytimes.com/2001/05/10/arts/10KESE.html A Supermodel of a Hotel Sashays to Astor Place http://www.nytimes.com/2001/05/10/arts/10NOTE.html 'Wingspan': Home Movies Starring the Cute Beatle http://www.nytimes.com/2001/05/10/arts/10GATE.html OP-ED COLUMNISTS ========================= By BOB HERBERT: Mr. Ferrer's Dilemma Bronx borough president Fernando Ferrer's courting of the Rev. Al Sharpton's support has provided a bumpy start to a New York City mayoral campaign. http://www.nytimes.com/2001/05/10/opinion/10HERB.html By WILLIAM SAFIRE: Battle of the Blue Slips Senate Democrats prepare for war over President Bush's judicial nominations. http://www.nytimes.com/2001/05/10/opinion/10SAFI.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at [email protected] or visit our online media kit at http://www.nytimes.com/adinfo
---------------------- Forwarded by Juan Hernandez/Corp/Enron on 05/21/2001 08:53 AM --------------------------- Rudy Acevedo@ECT 05/16/2001 12:05 PM To: Juan Hernandez/Corp/Enron@ENRON cc: Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! ---------------------- Forwarded by Rudy Acevedo/HOU/ECT on 05/16/2001 12:04 PM --------------------------- "Brenda A. Salinas" <[email protected]> on 05/16/2001 11:59:11 AM To: [email protected] cc: Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! THIS IS TOO FUNNY !!!! ? ENJOY !!! B- >Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! >Date: Wed, 16 May 2001 11:54:52 EDT > > Get your FREE download of MSN Explorer at http://explorer.msn.com Return-path: <[email protected]> From: [email protected] Full-name: JRiceprod Message-ID: <[email protected]> Date: Tue, 15 May 2001 22:54:46 EDT Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! To: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] MIME-Version: 1.0 Content-Type: multipart/mixed; boundary="part2_3e.bce6099.283345f6_boundary" X-Mailer: AOL 5.0 for Windows sub 138 Return-Path: <[email protected]> Received: from rly-zc02.mx.aol.com (rly-zc02.mail.aol.com [172.31.33.2]) by air-zc04.mail.aol.com (v78.38) with ESMTP; Mon, 14 May 2001 10:14:24 -0400 Received: from mail1.pcm.net (pcm.net [207.91.150.11]) by rly-zc02.mx.aol.com (v77_r1.36) with ESMTP; Mon, 14 May 2001 10:14:11 2000 Received: from LETECIA [209.140.43.74] by mail1.pcm.net (SMTPD32-6.05) id AA39E49A0396; Mon, 14 May 2001 09:22:49 -0500 Message-ID: <[email protected]> From: <[email protected]> To: "Quintal, Joe" <[email protected]> Cc: "Nancy Villarreal" <[email protected]>, "Tessa Diaz" <[email protected]>, "Miguel Diaz" <[email protected]>, "Martha Sainz" <[email protected]>, "Mary Francis Perez" <[email protected]>, "Cindi Garcia" <[email protected]>, "Pat Garcia" <[email protected]>, "Judy Jozwiak" <[email protected]>, "Laura Rice" <[email protected]>, "Pam Banks" <[email protected]>, "Neila Fernandes" <[email protected]>, "Hamilton, Erin" <[email protected]>, "Jaramillo, Angelica" <[email protected]> Subject: RE: A SERIOUS MEXICAN BIRTHDAY PARTY! Date: Mon, 14 May 2001 09:15:36 -0500 MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_NextPart_000_002D_01C0DC56.6FD67E00" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 5.00.2615.200 X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2615.200 FW:? A SERIOUS MEXICAN BIRTHDAY PARTY! ? You know you are at a SERIOUS MEXICAN BIRTHDAY PARTY IF: ? 1.??? Some of the guests didn't bring a gift, but brought extra uninvited kids. 2.??? When the cake says "Happy Birthday Mijo" instead of the child's real name. 3.??? The party is at Chuck E. Cheese, but they brought their own food, cake, and a pinata. 4.??? It's a party, but there are more grown-ups than children. 5.??? It's "Mijo's" 1st Birthday and the party food is carne asada, arroz con frijoles puercos, y 10 cases of beer. 6.??? For entertainment, instead of playing pin the tail on the donkey, there is usually a televised baseball, football game, or a live fight. 7.??? They don't sing Happy Birthday, instead everyone is salsa dancing. 8.??? The party was over at 5:00, it's 10:00 and the party is just starting. 9.??? You find out from Abuela that Abuelo is taking viagra. 10.??? The host calls someone who's on their way and tells them to stop and get some tortillas and ice. 11.??? The guests start arriving and the hostess disappears to get ready. 12.??? You hear someone go up to the birthday child and say "Mira, tan cute!" 13.??? Someone else says? "I'm going to have to get you something next week when I get paid. 14.??? The party is Saturday, and you get a call from the hostess Friday night saying, "I'm giving Mijo a birthday party tomorrow at 3:00." 15.??? Some guests bring gifts that are still in the store bag unwrapped. 16.??? There always seems to be more family than friends at the party. 17.??? You have the party over at your's brother's because he bought a new house and he has a pool. 18.??? The cake didn't come from the store; it came from the mother of the comadre of your friend's sister who makes really good cakes. 19.??? You are told you have to save your plate and fork you ate your food with, so you can eat you cake. 20.??? Someone calls and says they can't make it, but asks that you save them some cake. 21.??? Guests are wrapping up cake to take to Madre, Tio, Abuela, Chata y el Junior. 22.??? The party music is coming from a small boom box. 23.??? The birthday child is dressed from head to toe in Tommy. 24.??? The birthday baby's Daddy comes to the party and brings the kid he had before and after the Birthday Baby. 25.??? It's "Mijo's" party, but since his cousin Madonna is there and her birthday is in a few days, it becomes Mijo's and Madonna's party. ? Power to la Raza ? I thought this was?something to share with all you REAL Mexicans and those who are still trying to get to know us.......... ?
Good points. But you'll be happy to know that I bought 100 shares of enron yesterday. Now I own your ass! >From: [email protected] >To: "Scott Laughlin" <[email protected]> >CC: [email protected], [email protected], [email protected], >[email protected], [email protected], >[email protected] >Subject: Re: letter >Date: Fri, 6 Apr 2001 15:50:01 -0500 > > >This thing's been floating around the web for a while. Show's what's wrong >with good ol' California. To wit: > > We want federal water subsidies so we can kill the fish and grow rice > and grapefruit in the desert ("and we'll keep it all for us?"). > Let's drive our freakin' gas-guzzlin' SUVs all over, but hey, who needs > to invest in roads; and somebody else come quick and clean up our air > from all those emissions. > And we're 49th in the nation for spending on education. Great stuff. > Now, we've decided we want other state's with less sophisticated people > (in places like Nevada, Montana, Oregon, Washington, New Mexico) to > build power plants (and pollution) in their states to feed electricity, > and dam their rivers and kill their salmon so that we can heat our hot > tubs and STILL pay 3 cents a kilowatt hour. > And oh, by the way, it's federal taxes and the military industrial > complex which has funded CA's weapons industry and communications > industry. As no big fan of the military industrial comples, I'm just > crying crocodile tears. > >Generally the kind of self-righteous doo-doo that turns people off to what >is an otherwise great place to be. > >Yours in tender diatribes, >Jeff > >PS Scott, I think that you're absolutely right: drilling in the Arctic >Refuge in good for America.... > > > > "Scott > Laughlin" To: [email protected], >[email protected], > <scottwl@hotm [email protected], >[email protected], > ail.com> [email protected], > [email protected] > 04/06/2001 cc: > 03:12 PM Subject: letter > > > > > >Hope this doesn't piss Jeff off too much... > > >America has engaged in some finger wagging lately because California >doesn't have enough electricity to meet its needs. The rest of the >country (including George W. Bush's energy secretary Spencer Abraham, >who wants Californians to suffer through blackouts as justification for >drilling for oil in Alaska's Arctic National Wildlife Refuge) seems to >be just fine with letting Californians dangle in the breeze without >enough power to meet their needs. They laugh at Californians' >frivolity. > >Well, everybody. Here's how it really is: California ranks 48th in the >nation in power consumed per person. California grows more than half the >nation's fruit, nuts and vegetables. We're keeping them. We need something >to eat when the power goes out. We grow 99 percent or more of the nation's >almonds, artichokes, dates, figs, kiwi fruit, olives, persimmons, >pistachios, prunes, raisins and walnuts. Hope you won't miss them. > >California is the nation's number one dairy state. We're keeping our >dairy products. We'll need plenty of fresh ones since our refrigerators >can't be relied upon. Got milk? > >We Californians are gonna keep all our high-tech software in state. >Silicon Valley is ours, after all. Without enough electricity, which >you're apparently keeping for yourselves, we just plain don't have >enough software to spare. > >We're keeping all our airplanes. California builds a good percentage of >the commercial airliners available to fly you people to where you want >to go. When yours wear out, you'd better hope Boeing's Washington plant >can keep you supplied. There isn't enough electricity here to allow us >to export any more planes than we need ourselves. > >And while we're at it, we're keeping all our high-tech aerospace stuff, >too, like the sophisticated weapons systems that let you sleep at >night, not worried you might wake up under the rule of some foreign >kook. [As opposed to some domestic kook] > >Oh, yeah, and if you want to make a long-distance call, remember where >the satellite components and tracking systems come from. Maybe you >could get back in the habit of writing letters. > >Want to see a blockbuster movie this weekend? Come to California. We >make them here. Since we'll now have to make them with our own >electricity, we're keeping them. Even if we shot them somewhere else, >the labs, printing facilities, editing facilities, and sound facilities >are all here. > >Want some nice domestic wine? We produce over 17 million gallons per >year. We'll need all of it to drown our sorrows when we think about the >fact that no matter how many California products we export to make the >rest of America's lives better, America can't see its way clear to help >us out with a little electricity. You can no longer have any of our >wine. > >You all complain that we don't build enough power plants. Well, you >don't grow enough food, write enough software, make enough movies, >build enough airplanes and defense systems or make enough wine. > >This is your last warning, America. Lighten (us) up before it's too late. > >Love, > >The Californians > >_________________________________________________________________ >Get your FREE download of MSN Explorer at http://explorer.msn.com > > > > > _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com
The Oxford Princeton Programme E-Newsletter ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The World's Leading Provider of Full Spectrum Training Solutions for the Energy Industry and Beyond. http://www.oxfordprinceton.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ In this edition: - Brand new PrincetonLive.com courses - A history of The Oxford Princeton Programme - Free white papers: * Forward Curves: Managing Price Risk * Protecting Your Earnings: Managing the FASB133 Challenge - The Oxford Princeton Programme to present e-learning workshop at the 2001 APPEC conference - The Oxford Princeton Programme roadshow - The Oxford Princeton Programme course schedules ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ PrincetonLive.com continues to roll out new web-based training courses... Forwards and Swaps from the Flight Deck Available May 14, 2001 You are the new Risk Manager for Lucky Seven Airlines, and today,s your first day. 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We will need the "organizational ID" number for the Delaware, Maryland and Texas entities. If you wish, we can obtain this information from CT Corp. or a similar service provider for a charge of $12 per entity. Also, for UCC filing purposes, we need to know whether any counterparty is a "transmitting utility", i.e., entity primarily engaged in transmitting or producing electricity or transmitting goods by pipeline. Finally, I assume you will consult with local counsel regarding the Canadian counterparties. Thank you. Lech Kalembka Cadwalader, Wickersham & Taft 100 Maiden Lane New York, NY 10038 Tel.: (212) 504-6918 Fax: (212) 504-6666 E-mail: [email protected] "Heard, Marie" To: [email protected] <Marie.Heard@ cc: ENRON.com> Subject: FW: Enron Canada Office: Corp 11/06/2001 02:04 PM Is there anything else you need for BP Amoco? Marie > -----Original Message----- > From: "Dixon, Billy D" <[email protected]>@ENRON > Sent: Tuesday, November 06, 2001 1:00 PM > To: Heard, Marie > Subject: RE: Enron Canada Corp > > Principal Operating Offices: > > BP Corporation North America Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Energy Company > 501 West Lake Park Boulevard > Houston, Texas 77079 > > Vastar Resources, Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Canada Energy Company > 240 - 4th Avenue S.W. > Calgary, Alberta T2P 4H4 > > BP Canada Energy Marketing Corp. > 200 East Randolph Drive > Chicago, Illinois 60601 > > Cibola Energy Services Corporation > 350 N. St. Paul Street > Dallas, TX 75201 > > IGI Resources, Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Oil Supply Company > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Products North America Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Amoco Chemical Company > 200 East Randolph Drive > Chicago, Illinois 60601 > > Atlantic Richfield Company > 333 S. Hope Street > Los Angeles, CA 90071 > > Amoco Production Company > 501 WestLake Park Boulevard > Houston, Texas 77079 > > BP Chemicals Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > > -----Original Message----- > From: Heard, Marie [mailto:[email protected]] > Sent: Tuesday, November 06, 2001 8:54 AM > To: [email protected] > Subject: RE: Enron Canada Corp > > > I sure will if you will tell me the principal place of business of all > your entities party to the Master Netting Agreement. > > Enron Canada Corp. > 3500, 400 - 3rd Avenue S.W. > Calgary, Alberta T2P 4H2 > > > -----Original Message----- > > From: "Dixon, Billy D" <[email protected]>@ENRON > > Sent: Tuesday, November 06, 2001 7:47 AM > > To: Heard, Marie > > Subject: Enron Canada Corp > > > > Would you please tell me where Enron Canada Corp.'s principal place > of > > business in Canada is located? > > > > Very truly yours, > > > > BILLY > > Billy D. Dixon > > Attorney > > BP America Inc. > > 501 Westlake Park Blvd., Rm 16.166 > > Houston, Texas 77079 > > Direct 281/366-4745 > > Fax 281/366-5901 > > [email protected] > > > > *IMPORTANT -- THIS EMAIL AND ANY ATTACHMENTS HERETO ARE > > ATTORNEY-CLIENT > > AND/OR ATTORNEY WORK-PRODUCT PRIVILEGED AND CONFIDENTIAL. If you > have > > received this email in error, do not under any circumstances read, > > forward, > > copy, disseminate or save this email or any of its attachments. If > > you have > > received this email in error, take the following actions: (1) reply > to > > this > > email indicating that you received this email in error, and (2) > delete > > and > > completely erase this email and its attachments from your computer > and > > any > > backup systems or "Deleted Items" folders. > > > > > ****************************************************************** > This e-mail is the property of Enron Corp. and/or its relevant > affiliate and > may contain confidential and privileged material for the sole use of > the > intended recipient (s). Any review, use, distribution or disclosure by > others is strictly prohibited. If you are not the intended recipient > (or > authorized to receive for the recipient), please contact the sender or > reply > to Enron Corp. at [email protected] and delete > all > copies of the message. This e-mail (and any attachments hereto) are > not > intended to be an offer (or an acceptance) and do not create or > evidence a > binding and enforceable contract between Enron Corp. (or any of its > affiliates) and the intended recipient or any other party, and may not > be > relied on by anyone as the basis of a contract by estoppel or > otherwise. > Thank you. > ******************************************************************** ============================================================================== NOTE: The information in this email is confidential and may be legally privileged. If you are not the intended recipient, you must not read, use or disseminate the information. 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---------------------- Forwarded by Richard Shapiro/NA/Enron on 02/07/2001 08:54 AM --------------------------- Ray Alvarez@TRANSREDES 02/07/2001 07:42 AM To: Richard Shapiro@Enron cc: Subject: Dave Barry's thoughts on CA's electrical storage Rick, thought you might enjoy this alternative theory on the root cause of Cal's problem. Ray ---------------------- Forwarded by Ray Alvarez/TRANSREDES on 02/07/2001 09:39 AM --------------------------- Steve Hopper 02/07/2001 08:47 AM To: Ricky Lynn Waddell/SA/Enron@Enron, John Novak/SA/Enron@Enron, Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter E Weidler/NA/Enron@Enron, Ray Alvarez/TRANSREDES@TRANSREDES, Doug Farmer/TRANSREDES@TRANSREDES cc: Subject: Dave Barry's thoughts on CA's electrical storage Feb. 2, 2001, 8:06PM The rest of us should tell California to go fly a kite By DAVE BARRY When we consider the serious electricity shortage in California, our reaction, as concerned Americans, is: Ha ha! No, seriously, we are alarmed. Because history teaches us that whatever happens to California -- smog, road rage, tofu, coffee that is mainly air, cell phones, the belief that abdominal muscles are attractive, Shirley MacLaine, people taking in-line skating seriously, grandmothers sporting new and flagrantly inappropriate bosoms -- eventually happens to the rest of the nation. Thus it is vital that we analyze the California electricity shortage and see if we can develop a workable solution before we become bored and change the subject. Our first question is: What, exactly, is electricity? When we look in our Microsoft Encarta encyclopedia, we see that "electricity" is defined as a "class of physical phenomena resulting from the existence of charge and from the interaction of charges." What does this mean, in lay-person's terms? It means that whoever wrote the Microsoft Encarta encyclopedia is a big, fat dope. Because we know from our junior-high-school science training that electricity is actually a fast-moving herd of electrons, which are tiny one-celled animals that can survive in almost any environment except inside a double-A battery, where they die within minutes. Electrons are formed when clouds rub together and become excited. This was proved in the famous experiment wherein Benjamin Franklin flew a kite during a thunderstorm and was almost killed. Encouraged by this success, Franklin went on to conduct many more electrical experiments, including rolling a hoop in a thunderstorm, playing hopscotch in a thunderstorm and doing somersaults in a thunderstorm. Finally one night he was caught wearing only a bonnet and playing Mister Pooter Rides the Pony in a thunderstorm, leaving the authorities with no choice but to arrest him and make him ambassador to France. Nevertheless, Franklin had proved an important scientific point, which is that electricity originates inside clouds. There it forms into lightning, which is attracted to the earth by golfers. After entering the ground, the electricity hardens into coal, which, when dug up by power companies and burned in big ovens called "generators," turns back into electricity, which is sent in the form of "volts" (also known as "watts," or "rpm" for short) through special wires with birds sitting on them to consumers' homes, where it is transformed by TV sets into commercials for beer, which passes through the consumers and back into the ground, thus completing what is known as a "circuit." But enough technical talk. The problem is that California is running out of electricity. The situation is so bad that in some hospitals, they don't have enough electricity to power those electric-shock paddles that get people's hearts started again; instead, the doctors and nurses have to hold hands, scuff their feet across the carpet in unison, then shout "CLEAR!" as they touch the patient's chest. Who is responsible for California's electricity shortage? You could blame the power companies; or you could blame environmental wackos; or you could blame the entertainment industry, which uses more than 750 billion watts of electricity per day just to blow-dry the hair of the cast of Dawson's Creek; or you could blame (why not?) the Firestone tire company. But you would be wrong. Because obviously the real cause of the California electricity shortage is: college students. I base this statement on widespread observation of my son, who is a college student, and who personally consumes more electricity than Belgium. If my son is in a room, then every electrical device within 200 yards of that room -- every light, computer, television, stereo, video game, microwave oven, etc. -- will be running. My son doesn't even have to turn the devices on; they activate themselves spontaneously in response to his presence. Now take my son and multiply him by the number of college students in California, which according to my research is (EDITOR: Please insert number of college students in California) and you see my point, which is (EDITOR: Please insert my point). The question is: What can the rest of us do to help our fellow countrypersons in California? The answer is that we can send them our spare electricity. Just imagine what would happen if all the households in this great and generous nation got out their extension cords and connected them together, forming a giant electrical "chain of helping" across the fruited plain to the Golden State! Millions of people would be turned into generous smoking lumps of carbon, that's what. So maybe we should go with Plan B. This involves building a really, really, really big kite. Knight-Ridder Tribune
OK, it seems like everyone is making up for lost time tonight. Go home! Kimzey, let's go drink! -----Original Message----- From: Andrew Slocum [mailto:[email protected]] Sent: Monday, June 05, 2000 10:49 PM To: 'Kimzey, Bryan'; 'Mark A. Junell'; Andrew Slocum; 'Nicholas Johnston-Advisory'; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; Ben Rogers (E-mail) Subject: RE: Many thanks to Miquel Kimzey, you did alright my man! -----Original Message----- From: Kimzey, Bryan [mailto:[email protected]] Sent: Monday, June 05, 2000 9:38 PM To: 'Mark A. Junell'; Andrew Slocum; 'Nicholas Johnston-Advisory'; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; Ben Rogers (E-mail) Subject: RE: Many thanks to Miquel What the hell happened this weekend? All I can say right now is thank you to everybody who showed up and made this weekend one of the most fun memories ever. And thanks to Miguel and Blake again for organizing everything; I couldn't have done it without y'all. Once I can put more full sentences together, I'll write more. Thanks again. - Bryan ps If anybody has seen my Carolina shirt, my cell phone charger, my American Express card and/or my voice, please bring them to my wedding, too. > -----Original Message----- > From: Mark A. Junell [SMTP:[email protected]] > Sent: Monday, June 05, 2000 10:22 PM > To: Andrew Slocum; 'Nicholas Johnston-Advisory'; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; [email protected]; [email protected] > Subject: RE: Many thanks to Miquel > > Yea thanks Miguel. I feel like dog sh*t. > > -----Original Message----- > From: Andrew Slocum [mailto:[email protected]] > Sent: Monday, June 05, 2000 7:13 AM > To: 'Nicholas Johnston-Advisory'; [email protected]; > [email protected]; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; Andrew Slocum; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; [email protected]; [email protected] > Subject: RE: Many thanks to Miquel > > > If you remember, please bring the elvis sunglasses to Kimzey's wedding. I > second the motion to Miguel. Wexler did a remarkable show yesterday > evening, which included a lot of big easy chatter. > > Out > > -----Original Message----- > From: Nicholas Johnston-Advisory [mailto:[email protected]] > Sent: Monday, June 05, 2000 6:46 AM > To: [email protected]; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; [email protected]; > [email protected]; [email protected]; [email protected]; > [email protected]; [email protected]; > [email protected]; [email protected]; [email protected] > Subject: Many thanks to Miquel > > > Great weekend - thanks to Miquel for getting us all there and hopefully > Kimzey > will now not miss the wonders of bachelorhood too much. > > Found a camera - digital one in 317 - also have the elvis sun glasses - if > the > rightful owner would like to step forward - and yes we know who you are. > > Cheers > Nick > > > > This communication is for informational purposes only. It is not intended > as > an offer or solicitation for the purchase or sale of any financial > instrument > or as an official confirmation of any transaction. All market prices, data > and other information are not warranted as to completeness or accuracy and > are subject to change without notice. Any comments or statements made > herein > do not necessarily reflect those of J.P. Morgan & Co. Incorporated, its > subsidiaries and affiliates. > This message is for the named person's use only. It may contain confidential, proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any mistransmission. If you receive this message in error, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. 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----- Forwarded by James D Steffes/NA/Enron on 03/15/2001 03:58 PM ----- Linda Robertson 03/15/2001 02:53 PM To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Janel Guerrero/Corp/Enron@Enron cc: Subject: Senators Dianne Feinstein and Gordon Smith Announce Partnership in Response to the Western Energy Crisis Bad development. We are trying to get Steve an appointment with Smith next Tuesday. ----- Forwarded by Linda Robertson/NA/Enron on 03/15/2001 03:51 PM ----- Allison Navin 03/15/2001 03:46 PM To: Linda Robertson/NA/Enron@ENRON cc: Subject: Senators Dianne Feinstein and Gordon Smith Announce Partnership in Response to the Western Energy Crisis Senators Dianne Feinstein and Gordon Smith Announce Partnership in Response to the Western Energy Crisis March 15, 2001 Washington, DC - Senators Dianne Feinstein (D-CA) and Gordon Smith (R-OR) today announced an agreement to introduce bipartisan legislation to restore stability and reliability to the Western energy market by directing the Federal Energy Regulatory Commission (FERC) to impose a temporary &just and reasonable8 wholesale rate cap or cost-of-service based rates. The legislation will also require the states involved in this effort to pass on the cost of the electricity to retail customers. However, the states would be able to determine how and when this would be done. In other words, California could choose to use tiered-pricing, real-time pricing or set a baseline rate above which prices would be passed through. &We now have a piece of legislation that can fix the broken electricity market and provide a period of reliability and stability in wholesale energy costs,8 Senator Feinstein said. &FERC has found the wholesale prices being charged in California to be unjust and unreasonable. This legislation essentially will mandate that once FERC makes such a finding, the agency will carry out its regulatory role. This is a $175 million a year agency. It is there to regulate the energy marketplace, and it should. What the Federal government can do is to provide a period of reliability and stability at a time of crisis. Unfortunately FERC has refused to do so.8 &California,s broken electricity market is a result of a flawed 1996 California law that deregulated wholesale costs, but left in place caps on retail prices. This was coupled with a requirement that the utilities divest themselves of their generating capacity and buy most of their electricity on the spot market, where prices have escalated dramatically. In hindsight all of this came together in a catastrophic scenario, so that today, California buys electricity at astronomical prices. We believe that FERC needs to act to help restore reasonable costs and stability to this marketplace.8 &Additionally, this agreement addresses the escalation of natural gas transportation costs. Last February, FERC began a two-year experiment to lift the cap on these costs and since that time we have seen the price of natural gas climb 400 percent higher in Southern California.8 Senator Feinstein added. Specifically, the compromise legislation would accomplish the following goals: Directs FERC to impose a just and reasonable wholesale rate cap, which can be load-differentiated based on supply and demand, or cost-of-service-based rates in the Western energy market (Western Systems Coordinating Council, including Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.) Addresses the issue of high natural gas transmission costs by reimposing FERC tariffs for natural gas transportation into California (FERC Order 637) and requiring natural gas sellers to declare separately the transportation and commodity components of the bundled rate for gray market transactions. Stipulates that the wholesale price cap or cost-of-service based rate will not apply to wholesale sales for delivery in a state that imposes a price limit on the sale of electric energy at retail that: precludes a regulated utility from recovering costs under the price cap or on a cost-of service based rate; or precludes a regulated utility from paying its bills. Establishes that the rate-making body of a state can determine how and when the wholesale rates will be passed on to ratepayers, including the setting of tiered pricing, real time pricing, and baseline rates. (With respect to the Bonneville Power Administration, BPA will be encouraged to seek to reduce rate spikes to economically distressed communities, while ensuring costs are recovered by the end of the next contract period in 2006.) Directs that after the date of enactment, utilities cannot be ordered to sell electricity or natural gas into a state without a determination by the Federal Energy Regulatory Commission that the seller will be paid. Directs that in the event that a state in the Western energy market does not meet the criteria described in this agreement, state public utilities commissions in the Western energy market can ensure that regulated utilities within their jurisdiction meet demand for electric energy in the utility,s service area before making sales into any such state. Establishes that the wholesale rate cap or cost-of-service based rates shall remain in effect until such time as the market for electric energy in the western energy market reflects just and reasonable rates, as determined by the Commission or until March 1, 2003, whichever is earlier.
Here is CERA's latest near term analysis. ---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 10/27/2000 02:40 PM --------------------------- [email protected] on 10/26/2000 06:05:45 PM To: [email protected] cc: Subject: Temporary Slack - CERA Alert ******************************************************************** CERA Alert: Sent Thu, October 26, 2000 ****************************************************************** Title: Temporary Slack Author: N. American Gas Team E-Mail Category: Alert Product Line: North American Gas , URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1402 , Alternative URL: http://www.cera.com/client/nag/alt/102600_15/nag_alt_102600_15_ab.html ******************************************************* Warm weather and strong storage injections have temporarily shifted the focus in the gas market away from a potential supply shortage this winter toward a growing sense that supplies might just prove adequate. The result has been a steady and steep decline in the November NYMEX price from $5.63 per MMBtu on October 12 into the $4.60s as of October 25. Cash prices have followed suit, falling from the mid- $5.50s to the $4.60s at the Henry Hub, and gas is now pricing below residual fuel oil in the Gulf Coast and especially on the East Coast. Although gas storage inventories will begin the winter at levels higher than expected, in CERA,s view adequate supply for the winter is not yet assured, and the market remains subject to a quick return to prices well above $5.00 with the first cold snap. Storage injections of 71 billion cubic feet (Bcf) for the week ended October 20 accompanied by broad-based and continuing warm weather have driven the shift in market psychology. Last week,s injection rate was 26.5 Bcf, or approximately 3.8 Bcf per day, above the previous five-year average for those seven days and 58 Bcf above the 13 Bcf of injections recorded last year for the week ending October 22. With warm weather this week and the return of more normal temperatures expected next week, CERA now expects storage to reach a maximum level of 2,784 Bcf on October 31--still an all-time low entering the winter, by 26 Bcf (see Table 1). Is this inventory level "enough"? Not yet. Storage inventories this winter under 15- year normal weather conditions would fall to approximately 780 Bcf, 22 Bcf above the previous all-time low. This end-of-March minimum implies total withdrawals in the United States this winter of 2.0 trillion cubic feet (Tcf), 128 Bcf above last year,s withdrawals. But holding withdrawals this winter down to 2.0 Tcf in the face of a return to normal weather--and the demand rebound of 3.0 Bcf per day it would bring--will be difficult. Although the beginning of a US supply rebound and growing imports will add approximately 1.0 Bcf per day to supplies this winter, holding withdrawals down requires both of the following: * Industrial markets--mainly ammonia and methanol producers--that are now shut down because of high gas prices must remain shut down. These markets represent approximately 0.5 Bcf per day of demand that could return, should gas prices moderate relative to ammonia and methanol. * The nearly 1.5 Bcf per day of switchable load now burning residual fuel oil must remain off of gas. In CERA,s view, for gas prices to fall below resid on a sustained basis, particularly as power loads increase this winter, it must become apparent that winter demand can be met, the current resid load can return to gas, and storage inventories can be held reasonably near the previous record low. That low, 758 Bcf, occurred in March 1996 and was accompanied by a February average price of $4.41 and a March average of $3.00 at the Henry Hub. That spring, however, US productive capability was nearly 4.0 Bcf per day greater than it is today, winter power generation demand was lower, and there were about 4.5 million fewer residential and commercial gas customers in the United States. Market fundamentals in CERA,s view still support gas prices above those of resid, which as of this writing is pricing in the $4.75-$5.00 per MMBtu range. Warm weather throughout November and into December could reverse this relationship, but a warm October alone is insufficient, and any cold weather within the next few weeks will quickly tighten the slack that has temporarily come into the market. CERA,s price outlook for November--an average of $5.50 at the Henry Hub-- stands for now. end Follow URL for PDF version of this Alert with associated table. ******************************************************* CERA's Autumn 2000 Roundtable event dates and agendas are now available at http://www.cera.com/event ***************************************************** ******************************************************************** Account Changes To edit your personal account information, including your e-mail address, etc. go to: http://eprofile.cera.com/cfm/edit/account.cfm This electronic message and attachments, if any, contain information from Cambridge Energy Research Associates, Inc. (CERA) which is confidential and may be privileged. Unauthorized disclosure, copying, distribution or use of the contents of this message or any attachments, in whole or in part, is strictly prohibited. Terms of Use: http://www.cera.com/tos.html Questions/Comments: [email protected] Copyright 2000. Cambridge Energy Research Associates
TODAY'S HEADLINES The New York Times on the Web Tuesday, May 8, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "If you are H.I.V.-positive now, it doesn't mean you are dying. If you want to go to school, you should go to school. If you want to buy a car, you should buy a car." - DR. DAVID MARUMO, in Botswana, where the promise of access to AIDS drugs has brought new hope. Full Story: http://www.nytimes.com/2001/05/08/world/08BOTS.html NATIONAL ========================= Statewide Blackouts Ordered in California http://www.nytimes.com/2001/05/08/national/08CALI.html Officer Charged in Killing That Roiled Cincinnati http://www.nytimes.com/2001/05/08/national/08CINC.html Drug Spending Grows Nearly 19% http://www.nytimes.com/2001/05/08/national/08DRUG.html Forensic Expert Under Scrutiny as DNA Test Frees 'Rapist' http://www.nytimes.com/2001/05/08/national/08LAB.html /--------------------- ADVERTISEMENT ---------------------\ Unique Mother's Day Gift Idea! Get her a Rio500 MP3 Player for $49* and each month she can download any two audiobooks for only $12.95. Now she can enjoy listening to her favorite books without using those silly looking bifocals. Plus, she will be the "coolest" mom or grandmom on the block. MP3 Player - there not just for music anymore. http://www.audible.com/nyt/feboffer3 \---------------------------------------------------------/ POLITICS ========================= White House Selects Corporate Lawyer as Chairman of S.E.C. http://www.nytimes.com/2001/05/08/politics/08SEC.html Rumsfeld Plans to Seek a Military Strategy Using Outer Space http://www.nytimes.com/2001/05/08/world/08SPAC.html Bush Chides Critics and Declares Freer Trade a Moral Issue http://www.nytimes.com/2001/05/08/world/08PREX.html White House Says No 'Magic Wand' to Cut Gasoline Prices http://www.nytimes.com/aponline/national/AP-Bush-Gas.html INTERNATIONAL ========================= Rumsfeld Plans to Seek a Military Strategy Using Outer Space http://www.nytimes.com/2001/05/08/world/08SPAC.html Free AIDS Care Brings Hope to Botswana http://www.nytimes.com/2001/05/08/world/08BOTS.html U.S. Resumes Its Spy Flights Close to China http://www.nytimes.com/2001/05/08/world/08PLAN.html Bush Chides Critics and Declares Freer Trade a Moral Issue http://www.nytimes.com/2001/05/08/world/08PREX.html BUSINESS ========================= White House Selects Corporate Lawyer as Chairman of S.E.C. http://www.nytimes.com/2001/05/08/politics/08SEC.html Market Place: A Prayer for Tech Stocks http://www.nytimes.com/2001/05/08/technology/08PLAC.html Dell to Cut 10% of Work Force http://www.nytimes.com/2001/05/08/technology/08DELL.html Priceline Fires Chief and Shuffles Officials http://www.nytimes.com/2001/05/08/technology/08PRIC.html TECHNOLOGY ========================= Dell to Cut 10% of Work Force http://www.nytimes.com/2001/05/08/technology/08DELL.html Market Place: A Prayer for Tech Stocks http://www.nytimes.com/2001/05/08/technology/08PLAC.html In a Shift in Strategy, Apple Is Making Plans to Open Its First Stores http://www.nytimes.com/2001/05/08/technology/08APPL.html Priceline Fires Chief and Shuffles Officials http://www.nytimes.com/2001/05/08/technology/08PRIC.html NEW YORK REGION ========================= Mayor's Wife Wants His Friend Kept From Mansion http://www.nytimes.com/2001/05/08/nyregion/08GIUL.html Facing Scrutiny, President of Hale House Will Resign http://www.nytimes.com/2001/05/08/nyregion/08HALE.html Tempers Flare Near Deadline for Welfare http://www.nytimes.com/2001/05/08/nyregion/08WELF.html New Districts Imperil G.O.P. in New Jersey http://www.nytimes.com/2001/05/08/nyregion/08DIST.html SPORTS ========================= Fighting Devils Live to Play Another Day http://www.nytimes.com/2001/05/08/sports/08DEVI.html Rookie Wins as Mets Shut Down Late Rally http://www.nytimes.com/2001/05/08/sports/08METS-LATE.html Yankees Causing Havoc on the Bases http://www.nytimes.com/2001/05/08/sports/08YANK.html Yankees Bulk Up on Plankton http://www.nytimes.com/2001/05/08/sports/08BASE.html ARTS ========================= Court Considers Ownership of Seized 'Hitler' Paintings http://www.nytimes.com/2001/05/08/arts/08HITL.html MTV Gives 'Carmen' a Hip-Hop Update http://www.nytimes.com/2001/05/08/arts/08NOTE.html Spring Art Auctions Open at Phillips's New Home http://www.nytimes.com/2001/05/08/arts/08AUCT.html Museums as Walk-In Closets http://www.nytimes.com/2001/05/08/arts/08VISI.html OP-ED COLUMNISTS ========================= By GAIL COLLINS: Beam Me Up, Rummy Don't settle for a lousy missile shield. Romulan cloaking devices and transporter beams are obviously the way to go. http://www.nytimes.com/2001/05/08/opinion/08COLL.html By THOMAS L. FRIEDMAN: It Takes a Satellite The information revolution has offered young techies in Ghana a real chance to leap forward. http://www.nytimes.com/2001/05/08/opinion/08FRIE.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at [email protected] or visit our online media kit at http://www.nytimes.com/adinfo
Calif May Be Buying Big Power Supplies At Market's Top By Mark Golden 03/07/2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) NEW YORK -(Dow Jones)- When market-savvy energy companies like Enron, Calpine and Dynegy are selling like crazy, that might be a sign it's not a good time to buy. Nevertheless, the state of California is signing contracts for $43 billion worth of power under supply deals stretching up to 20 years. Some industry experts say these contracts could be overpriced by billions of dollars in a matter of months. What's more, deliveries for most of the supplies already signed for won't begin until after this summer, which is likely when the power will be needed most. "The state should be involved in portfolio contracts to stabilize costs, but signing 10-year and 20-year contracts is inappropriate," said Michael Zenker, director of western energy consulting services at Cambridge Energy Research Associates. "That could end up locking consumers into higher rates for many years to come." The near bankruptcy of California's two largest utilities has forced the state to step heavily into the power markets. The state's idea behind signing long-term contracts is to stabilize its power costs by spreading them out, said Vikram Budhraja, whose company, Electric Power Group, is advising the state on the contracts. "What we set out to do is get California out of the spot market, bring stability to the market and get dependable supplies," Budhraja said. "We believe we have done that." But some said California could find cheaper prices for forward power if it waits. Power prices will continue to be very volatile for the next 12 months to 24 months, but the price of power for delivery in 2002 and beyond is likely to begin falling at the end of this summer, said Gerald Keenan, a senior partner for PricewaterhouseCoopers' utility consulting group. The best approach now is to sign contracts covering just a few months or years, he said. "It's not a good bet that gas prices will stay high for such a long time," he said. "And very little of that power will be delivered this summer anyway." This week, California Gov. Gray Davis said the state has nailed down about 7,000 megawatts for the summer - more than half the difference between generation already controlled by the utilities and the projected peak demand on a very hot day. But contract details released by Calpine Corp. (CPN), Dynegy Inc. (DYN), Duke Energy (DUK) and Williams Companies (WMB) belie the governor's claim. According to press releases from those generators, only 1,640 MW of the power they're selling will be available this summer. Not everyone agrees the state has overpaid. To head off a meltdown, independent power companies in California are giving the state prices slightly below the current forward market, said Gary Ackerman, executive director of the Western Power Trading Forum. "These are probably good deals," said Ackerman, who added that potential out-of-state suppliers are seeking higher prices because they don't have the same political motivation. "Never guess at what prices are going to do. They can always go higher." Still, California's inability to find much power for this summer means that the state's imbalance between supply and demand will have to be solved in the near term on the demand side, according to one perspective. Once demand falls - whether through higher prices, voluntary conservation, involuntary blackouts or even a recession - forward electricity prices in California could come crashing down. Davis has proposed conservation plans that he says will reduce electricity consumption by 10% from expected levels this summer. As part of the conservation program, Davis wants to install new real-time meters before summer at 43,000 industrial and commercial customers which will then get some market prices for their power and would be motivated to reduce consumption during peak-use hours. The current forward market reflects a skepticism that the meters and other conservation efforts will be anywhere near as effective this summer as the governor says. But some industry experts say the real-time meters alone could reduce power consumption by 10%, which would slash both spot and forward supply prices, again reason for the state to wait. "The state should absolutely install the meters first before signing the long-term contracts," Zenker said. The governor agreed, when asked about this in his press conference, that conservation efforts will weaken forward markets. But he said securing stable prices now is worth the cost. "Consumers will know approximately what it will cost them for power. The first two or three years they will probably pay less than the real cost of power. In the next five or six years they may pay a little bit more," Davis said. "I think that is a bargain that Californians can learn to accept." Moreover, if the state had signed deals for just a couple of years, the average price would be double the $69/average price of the longer-term contracts announced this week. Such prices, in turn, would have forced the state to raise electricity rates, something that is politically unpalatable, Zenker conceded. Davis and his staff defended their approach, saying that the problem for this summer will be so acute that it requires a multipronged attack rather than pursuing demand reductions first. "There is no one piece that is going to solve this problem," Budhraja said. "All have to be pursued simultaneously." -By Mark Golden, Dow Jones Newswires; 201-938-4604; [email protected] Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Platts Energy Bulletin Welcome to Platts Energy Bulletin, a showcase of the top headlines posted on platts.com (http://www.platts.com) over the past 24 hours. To view this file in html, open the attachment at the bottom of this email. For Platts Premium customers go to www.einsight.com (http://www.einsight.com ) to pick up your Platts Energy Insight subscription. Your password and login remain the same. If you no longer wish to receive this email, instructions for unsubscribing can be found at the bottom of each issue. We welcome your feedback - send your comments to [email protected] Jan 25, 2002 What's New on platts.com? Platts Enron Report: Read about the implications of Enron's bankruptcy on the financial and energy communities. (http://www.platts.com/features/enron/index.shtml) Bandwidth Update: Ambient and Southern Telecom to develop and test power line communications system. (http://www.platts.com/bandwidth/index.shtml) Futures Round-up NYMEX: Crude to open higher despite lack of news NYMEX March crude oil is called to open 15 cts higher at $19.85/bbl Friday. March Brent is called to open 17 cts higher at $19.31/bbl. February heating oil is called to open 11 pts higher at 53.50 cts/gal and February unleaded gasoline is called to open 40 pts higher at 57.25 cts/gal. IPE Brent Focus: Technical buying pushes IPE Brent crude higher Friday Front-month March gapped higher in ETS electronic trading early on, opening at $19.35/bbl, up from Thursday's high of $19.25/bbl. Gains were consolidated in open outcry business and at 1100 GMT the contract stood at $19.49/bbl, 36 cts higher than the previous day's close. April Brent had climbed 32 cts to trade at $19.61/bbl at the same time. News Round-up Click on the headlines below or paste the URLs provided in your internet browser to see the full story. ADVERTISEMENT: Platts Global Energy Jobs Board and Resume Bank: Created in partnership with the Energy Jobs Network, the Jobs Board gives you access to a pool of job seekers and open positions across the energy industry. It's free for all job seekers, and there is a range of packages for employers posting jobs. (http://www.energyjobsnetwork.com/home.asp?code=platts) ENERGY INSIGHT: (For Premium Customers) Liquefied natural gas proponents remain bullish In the 1970s-early 1980s, soaring natural gas prices and the faulty belief the United States would run out of natural gas within a decade led to the construction of four liquefied natural gas terminals. (http://www.einsight.com) OIL: Devon Energy completes $3.15-bil acquisition of Mitchell Devon Energy Jan 24 said it had completed its $3.15-bil acquisition of Mitchell Energy & Development after shareholders of both companies approved the deal in separate meetings earlier in the day. (http://www.platts.com/archives.shtml#58130) NATURAL GAS: Philippines mulls sale of PNOC's stake in Malampaya gas Enron late Jan 24 said it would continue to pursue a lawsuit against Dynegy seeking $10-bil in damages arising out of Dynegy's termination of its merger agreement with Enron, and amend that complaint to add an additional damage claim alleging that Dynegy's exercise of the Northern Natural Gas Pipeline option was wrongful. (http://www.platts.com/archives.shtml#57291) PETROCHEMICALS: ExxonMobil opens $2-bil chemical complex in Singapore ExxonMobil Chemical officially opened its $2-bil petrochemical complex in Singapore, known as the Singapore Chemical Plant on Friday. (http://www.platts.com/archives.shtml#58153) ADVERTISEMENT: Platts Buyers' Guide: One online place for the electric power industry to search, compare and find the products and services you need. Click to add your listing. (http://www.mediabrains.com/client/platts/bg1/search.asp) ELECTRIC POWER: Sempra reviewing Enron assets for possible purchase Sempra Energy has been looking at "hard assets" owned by bankrupt Enron, including its natural gas pipelines, energy services contracts and trading operations, but has yet to make any final decision, Stephen Baum, Sempra chairman, president and chief executive officer, said Jan 24. (http://www.platts.com/archives.shtml#57305) NUCLEAR: Las Vegas, county ask court to stop Yucca Mt project Las Vegas and Clark County, Nevada asked a federal court for help Jan 24 in stopping DOE's repository project at Yucca Mountain, 90 miles outside Las Vegas. (http://www.platts.com/archives.shtml#58133) COAL: Egyptian firm seeks US Coal Egyptian company Al Nasr Co for Coke & Chemicals is asking US producers to prequalify to supply metallurgical coal to the company over a four-year period. (http://www.platts.com/archives.shtml#58141) To see the past five day's headlines posted on platts.com go to Platts archives (http://www.platts.com/archives.shtml) Want more information on Platts products? Browse the Platts Infostore at http://www.platts.com/mhe_infostore/cgi-bin/infostore. You can also email Platts sales team at [email protected] or check for the details of your nearest sales representative in our list of Platts offices at http://www.platts.com/about/offices.shtml. For information on how to advertise on the Platts Energy Bulletin or on platts.com contact [email protected]. To email an editor, click on http://www.platts.com/oil/editorialquestions.shtml?EnergyBulletin To unsubscribe from the Energy Bulletin, please send an email to [email protected] and type the words UNSUBSCRIBE PLATTS in the body of your message. You should receive a response telling you that you have been unsubscribed. If you are experiencing problems, email us at [email protected]. - 250102.html
---------------------- Forwarded by Susan M Scott/HOU/ECT on 03/28/2000 12:06 PM --------------------------- Enron Capital & Trade Resources Corp. From: [email protected] 03/28/2000 11:22 AM To: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] cc: Subject: Hit the Floor - True Story Hit The Floor' A True Story... > > > > On a recent weekend in Atlantic City, a woman won a > > bucketful of quarters at a slot machine. She took a > > break from the slots for dinner with her husband in > > the hotel dining room. But first she wanted to stash > > the quarters in her room. > >"I'll be right back and we'll go eat," she told her husband > >and she carried the coin-laden bucket to the elevator. > > > > As she was about to walk into the elevator she > >noticed two men already aboard. Both were black. > >One of them was big ... very big ...an intimidating > >figure. The woman froze. Her first thought was: > >These two are going to rob me. > >Her next thought was: > >Don't be a bigot, they look like perfectly nice gentlemen. > > > >But racial stereotypes are powerful, and fear immobilized her. > >She stood and stared at the two men. > >She felt anxious, flustered, and ashamed. > > > >She hoped they didn't read her mind, but knew they > >surely did; her hesitation about joining them on the > >elevator was all too obvious. Her face was flushed. > >She couldn't just stand there, so with a mighty effort of will > >she picked up one foot and stepped forward and followed > >with the other foot and was on the elevator. > > > >Avoiding eye contact, she turned around stiffly and > >faced the elevator doors as they closed. A second > >passed, and then another second, and then another. > >Her fear increased The elevator didn't move. Panic > >consumed her. My God, she thought, I'm trapped and > >about to be robbed. Her heart plummeted. > >Perspiration poured from every pore. Then ... one > >of the men said, "Hit the floor." > >Instinct told her: Do what they tell you. > > > >The bucket of quarters flew upwards as she > >threw out her arms and collapsed > >on the elevator carpet. > > > > A shower of coins rained down on her. Take my money > >and spare me, she prayed. More seconds passed. > > > >She heard one of the men say politely, 'Ma'am, if > >you'll just tell us what floor you're going to, > >we'll push the button.' The one who said it had a > >little trouble getting the words out. He was trying > >mightily to hold in a belly laugh. > > > >She lifted her head and looked up at the two men. > >They reached down to help her up. > >Confused, she struggled to her feet. > > > >"When I told my man here to hit the floor," said the > >average sized one, "I meant that he should hit the > >elevator button for our floor. I didn't mean for > >you to hit the floor, ma'am." He spoke genially. > >He bit his lip. > >It was obvious he was having a hard time not laughing. > > > >She thought: my goodness, what a spectacle I've made > >of myself. She was too humiliated to speak. She > >wanted to blurt out an apology, but words failed her. > > > >How do you apologize to two perfectly respectable > >gentlemen for behaving as though they were going to > >rob you? She didn't know what to say. > > > >The 3 of them gathered up the strewn quarters and refilled her bucket. > >When the elevator arrived at her floor, they > >insisted on walking her to her room. She seemed a > >little unsteady on her feet, and they were afraid she > >might not make it down the corridor. At her door > >they bid her a good evening. > > > >As she slipped into her room she could hear them > >roaring with laughter while they walked back to the > >elevator. The woman brushed herself off. > >She pulled herself together and went downstairs for > >dinner with her husband. > > > >The next morning flowers were delivered to her > >room-a dozen roses. Attached to EACH rose was a > >crisp one hundred-dollar bill. The card said: > > > >Thanks for the best laugh we've had in years' > >It was signed, > > > > Eddie Murphy > > Michael Jordan > > >
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FROM: ORGANIZATION OF AFRICAN HEALTH AND ECONOMIC DEVELOPMENT (OAHED)Under Auspice of UNIPH Foundation: Reg N0:85/2000 c/o N0:9 Long Street Banjul The Gambia; Telefax:220-390969 SUBJECT; RE:INTRODUCTION OF (OAHED)AND REQUEST FOR FINANCIAL/TECHNICAL ASSISTANCE FOR EFFECTIVE TAKE-OFF OF ESTABLISHING A LIAISON OFFICE IN THE GAMBIA. ATTN:KENNETH INTRODUCTION Organization of African Health and Economic Development (OAHED), was created with a vision to coordinates efforts to combat diseases and promote physical and mental health. Contribute significantly to eradicate communicable diseases and promoting improved sanitation and health condition in Africa and promote economic development. OAHED based on a common vision on economic stabilization strategies and shared conviction , that (OAHED) have a pressing duty to eradicate poverty and diseases and to place Africa countries both individually and collectively on the path of sustainable growth development at the same time participate actively in the world economy. The programmme of (OAHED) is anchored on the determination of Africans to extricate themselves and the continent from the malaise of underdevelopment and exclusion in the world globalization. Poverty and backwardness of African stand in stark contrast to the prosperity of the developed world.The continued imagination of Africa from the globalisaton process and the social exclusion of the vast majority of its people constitute a serious threat to global stability. In Africa, 365 million peoples or half of the population live on less than $1.00 per day.The mortality rate of children under 5years of age is 140 per 1000 and life expectancy at birth is only 54 years. Only 41 percent of the population have access to safe water, medical care, education etc. The high rate of illiteracy for people over 15 is 54 percent. OAHED calls for the reversal of this abnormal situation by changing the relationship that underpins it.African are appealing neither for the further entrenchment of dependency through aid, nor for margical concession. We are convinced that an historical opportunity present itself to end the scourge of underdevelopment that afflicts Africa. The resources, including capital, technology and human skills that are required to launch a global war on poverty and underdevelopment exist in abundance.What is required to mobilize these resource and use them properly, is bold and imaginative leadership that is genuinely committed to a sustained effort of human upliftment and poverty eradication as well as a new global partnership based on shared responsibility and mutual interest. In the circumstance, Organization of African Health and Economic Development(OAHED) hereby declare that we will no longer allow ourselves/African countries to be conditioned by circumstances. We determine our own destiny and call on the rest of the world to help and complement our efforts. There are already signs of progress and hopes. Democratic regimes that are committed to the protection of human rights, peoples centered development and market oriented economies are on the increase. African people have begun to demonstrate their refusal to accept poor economic and political leadership.These development are, however uneven and inadequate and head to be further expedited. OAHED is about consolidating and accelerating these gains. It is a call for a new relationship of partnership between African and the international community, especially the highly industrialised countries, to overcome the development chasm that has of course widened over centuries of unequal relations. Our perfect knowledge in respect of the high level of your commitment and goodness in the vineyard of humanity impressed and impelled us to seek for your kind assistance to establish the (OAHED) liaison office in the Gambia. The materials and funds needed for the effective take-off are as follow: 1.Cost of renting /furnishing office??????????.USD$38,000.00 2.Logistics, ie, vehicles???????????????USD$325,000.00 3.Staff emolument, mobility and communication etc????USD$57,000.00 4.Contingency (5%) Grand Total ???????????????????USD$420,000.00 In the light of this, we are now on board in a situation not to be described caused by financial difficulty. We have no facilities neither have we any money to purchase those materials that are absolutely necessary in this issue.Your goodness to humanity has ever been such as leaves not the smallest doubt you will not suffer us to starve in the situation you have been pleased to place us, and which is such as will ever tend to make us the most grateful/happy and to ensure success as well as accomplish the set-up goals.You will be induced to take this issue into consideration an urgent intervention in this impediment, and by a little pecuniary aid, please save us from this impasse.It will be an act worthy of your self, and that imprint upon our heart which will never be erased. OAHED will welcome any assistance you render to enable us put in place the relevant infrastructures that would enhance the effective and the presence of Organization of African Health and Economic Development in the Gambia. Any assistance given should be considered a worthwhile service to God and Humanity .If you require any further information or clarification in any point, please do not hesitate to ask. Looking Forward to The Pleasure of your Compliance. Yours Faithfully Rev. Emmanuel . E. Awuruh CEO/PRESIDENT ORGANIZATION OF AFRICAN HEALTH AND ECONOMIC DEVELOPMENT(OAHED) THE GAMBIA, WEST AFRICA. __________________________________________________ Do You Yahoo!? Buy the perfect holiday gifts at Yahoo! Shopping. http://shopping.yahoo.com
---------------------- Forwarded by Scott Neal/HOU/ECT on 10/17/2000 12:11 PM --------------------------- Margaret Carson@ENRON 10/13/2000 01:43 PM To: Julie A Gomez/HOU/ECT@ECT, Stephanie Miller/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Daniel Allegretti/HOU/EES@EES, Mike McGowan/ET&S/Enron@ENRON, Lorna Brennan/ET&S/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON, Mark Schroeder/LON/ECT@ECT, Mark Koenig/Corp/Enron@ENRON, Kathryn Corbally/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron cc: Subject: CAMBRIDGE ENERGY UPDATES ON GAS AND POWER The CERA executive roundtable meeting summary results are as follows: If you are interested in a complete set of the graphs from the presentations please let me know. ELECTRIC POWER PART ONE PEAK TRENDS It is noteworthy how rapidly volatility can change geographically in the electric markets. Last year the U.S. Midwest/South areas were the peakiest, but it reversed this year with the West being highest at the peaks and in New England -- but only in early May 2000 were hgih peaks apparent there. Demand can vary from half the peak max to the max. Peakers can be on the margin on the upper half of the supply mix in many markets. We need to watch gas prices this winter as they can effect winter peak power prices--not just a summer phenomenon. Where are the most gas plants now on the margin? Ercot, FRCC, Neepool, NYPP, SERC, WSCC A DISCONNECT There is a disconnect in the on-peak forward market price for power in Texas now; with the added 5 GW Texas forward markets do not seem to take this into account yet. (Note: Vince Kaminski) The Texas forward market should be very soft next summer unless we return to 105 degree F temperatures. New England is just one year behind Texas in its overbuild. One main reason for the spikes in Calif is power plants did not get built in Calif due to a lack of a capacity charge ..and this is not a panacea...as Calif also has many enviro/siting hurdles that challenge developers who want to site as well. . TSUNAMI OF MERCHANT CAPACITY PLANNED? CERA sees over 240,000 MW of planned capacity over the 2000-2005 period; with 25,000 MW being completed in 2000; 35 MW under construction for 2001 and 15 000 MW under construction for 2002-- but the market only needing 13 000 to 15 000 MW a year. This shall lead to many and large deferrals and delays, especially in 2001 and 2002. What has been the recent history? US wide over the past 3 years just 11 percent of the planned capacity was actually finished and 18 percent of that planned was actually under construction. They assume a 24 month construction completion time. FOR PROFIT TRANSMISSION Cera sees Allegheny Energy in PJM West; Entergy in SPP; Southern in SERC and Alliant in MAPP as all for profit transcos. TYPICAL O&M COSTS IN U.S. TRANSCOS Why do O&M costs differ widely among transcos? Some costs are 3 to 8 times higher than the norm at $5000 in O&M expense per 5000 system miles in size. Regulatory overhang allows this...this is weather adjusted to remove high costs from big freezes etc. USING REAL OPTION MODEL VS POWER PLANT NPV You want to try to have the base value of an asset going forward when you expect volatility and include historical spreads and fuel/power price swing assumptions. CALIFORNIA MARKET IS BROKEN This market starts to work only after it gets into a reliability crisis. No incentives to add power plant capacity and huge hurdles against siting even when the market signals the need is there. Will the regulator's post 2000 fix make it worse? PEAK POWER DEMAND FORECAST As percent per year change vs 2000 Cera sees 2001 as follows: New Eng / New York 6.3 / 6.2 percent PJM / ECAR 7.7 / 4.4 percent MAIN / MAPP 3.0 / -0.1 SERC / FRCC 1.3 / 2.3 percent SPP / ERCOT 4.0 / 2.3 NWPP / Rockies -6.8 / -0.6 AZNM / Calif-SoNV -0.9 / 4.0 USA avg up 2.6 percent It looks like Calif. in in for a touch summer in 2001 as well. NATURAL GAS PART TWO SUPPLY SHORT Year 2001 supply rebound could be 800mmcfd to 1.0 bcfd; Canada in 2001 up only 400 a day; in the US we need 2 bcfd more supply for 2001 demand. alone let alone storage refill.... yet a cold winter now could add 3 to 4 bcfd to demand and slash storages. The fall in drilling in 1999 and early 2000 took 3.5 bcfd productive capacity out of the supply pool. It will take till 2005 for US production to reach a 4.1 bcfd gain versus today's production. ADDED GAS FOR POWER PLANTS Right now Cera expects an incremental need for 1 bcfd next year for these plants..this will keep prices high MUCH MORE POWER SWING 1990 to 1992 we needed 5 bcfd for power plant swings; now we need 10 bcfd; offpeak use is even up 5 bcfd vs 10 years ago. RESI USE IS UP The AGA disco members adds 750 000 new gas homes each year and this builds demand year round. INDUSTRIAL NUG DEMAND Of the 24 bcfd ( 8.77 Tcf) industrials gas use in the US; 8.6 bcfd ( 3.1 Tcf) of this is for power plant and non-mfg use. HOW FAST CAN CANADA ADD? Canada can add 3.6 bcfd by 2005 versus now; adding each year from 2001 to 2005 as follows: 500/800/900/700/700 mcfd annually. IS ARCTIC GAS ON THE HORIZON? Its is far away; maybe 4 or 5 bcfd by 2015.. This means up to 2.7 bcfd to flow to Midwest by 2015 and up to 2.4 bcfd to Calif./PNW on expansions by 2015.
I agree with Mark's points. While we have advocated our merger with PGE (which did not concentrate market power) we have intervened in opposition to most others. Moreover, there is some hope that the German government will take the opportunity to use the proposed utility merger to force greater open access. We will likely encourage that action and may oppose the merger otherwise. Most mergers in this industry are defensive, not procompetitive, and, in my view, deserve no credit for convergence, innovation, or liberlization. ---------------------- Forwarded by Steven J Kean/HOU/EES on 09/10/99 01:17 PM --------------------------- Mark Schroeder@ECT 09/10/99 05:26 AM To: Margaret Carson/Corp/Enron@Enron cc: Joan Wasylik/LON/ECT@ECT, Danny McCarty/LON/ECT@ECT, Steven J Kean/HOU/EES@EES Subject: Speech to the British Institute of Energy Economists Margaret - apologies for the delay in getting comments to you on your speech. Due to press of other matters I will be brief. First, your speech caption, refernecing "mergers" is somewhat different than the topic shown in the agenda, i.e., "Industry Structure and Competitive Behaviour", but I trust you are wroking that out with the BIEE. Second, in your first paragraph, you note that developments in the energy sector over the last decade are due to the mergers of the last five years (a point I will retrun to later), but in any event, not entirely consistent in terms of timeframes. Third, I am surprised that the Enron Corp. view is that gas and electricity markets grew as they did over the decade due to mergers. In the past, things like unbundling and non-discriminatory third-party access have featured prominently in our advocacy. Indeed, though it was not my role at Enron, I would have thought that in many of the recent electricity mergers pre-dating Order No. 888 we would have joined the chorus of voices arguing that these mergers concentrated market power, and that such market power could only be mitigated with the provision of non-discriminatory third-party access (an argument we will be repeating in, e.g., Germany, as noted below). Finally, I would note that in the past, I thought we had questioned the value of mergers as an impediment to competitive markets, as I recall Ken Rice gave an infamous address/speech, in which he described "good" mergers and "bad" mergers, i.e., defensive mergers like Houston Industries and NorAm. I actually borrowed heavily from that speech two years ago, in paris, but if we have changed our tune, that is good to know. Even the "good" mergers identified in his/my speech, e.g., Enron/Portland, have had the "goods" thwarted, in part, by regulators, who would not let us do all we wanted to do that was pro-competitive. Also, in the past, we have used as a good example of "convergence" the arbitrage we have done at Sithe's facility in NY, pointing out that we are in an "energy" or "BTU"market, not gas alone, or electricity alone. Not clear to me that mergers in the US demonstrate this. Fourth, accepting that it is the Enron Corp. view that mergers are symbolic of the convergence of gas and electricity, and are what yield the many beneifts of competition that you dsicuss elsewhere in your speech (I do, of course, agree with all the platitueds that competition yilds more service offerings, innovation, etc.), you should be aware, coming over to this market, that a number of mergers are taking place that we have expressed concerns about in comments to the regulators, and will do so in the future. here are some you should be aware of: Veical integration in the UK electricity industry (not clear yet that this will result in better/more service, but definitely loss of counter-parties, re-bundling of business before retail unbundling/competition has taken hold); Exxon/Mobil (consolidation in the upstream sector in Continental Europe, which is already concentrated), VEBA/VIAG in Germany (probalby okay, assuming thrid-party access is allowed/enhanced to the wires). Just FYI, any objections we have are usually communicated confidentially. Fifth, if you are ging to emphasise mergers, as per your title and opening paragraph, I question the inclusion of all the discussion on privatisation, which is good, but does not seem to demonstrate the benefits of merger activity, which I read is the premise of your speech, per paragraph one. In addition, recitation of ownership of miles of gathering lines and transmission lines does demonstrate change in aggregate ownership, but not clear it is all due to mergers (e.g., I thin NNG is just capital expansion), nor does the connection get made that this has lead to innovative or enhanced service offerings. I do think excellent points can be made about the deregulation/divestment of gathering, and getting it out of federal regualtroy purview, but that is not in the speech at this point. Sixth, you describe "network industries" well, but in the broader context of your speech, I think your listeners will assume you are referring to the physical network, rather than the Enron vision, which you capture accurately, nor is it easily understood how this demonstrates or adds to your point about convergence. Seventh, in your table of converged companies, you could be asked about the fact that Duke has already disposed of the pipeline assets it acquired in the PanEnergy deal (since sold to CMS), apparently keeping only the trading business. Also, our pieeline assets to do not serve our cogen facilites in NJ, so not clear to me that thisdemonstrate convergence in the East Coast. Hope this helps. I will be travelling today and Monday, but if you have questions, please leave me voice mails, and I will return your calls. P.S. at p. 7 you describe "secular" change. I assme that this should read "sectoral" change. Mark
----- Forwarded by Richard B Sanders/HOU/ECT on 10/18/2000 02:56 PM ----- Eric Thode@ENRON 10/18/2000 02:54 PM To: Richard B Sanders/HOU/ECT@ECT cc: Subject: San Diego Union Tribune ---------------------- Forwarded by Eric Thode/Corp/Enron on 10/18/2000 02:55 PM --------------------------- Eric Thode 10/18/2000 02:41 PM To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron cc: Subject: San Diego Union Tribune Have you seen this? Eric Power-company profits climb along with prices By Craig D. Rose UNION-TRIBUNE STAFF WRITER October 18, 2000 A power company executive yesterday boiled California's ongoing electricity crisis down to the bottom line. "Prices are rising, and I know that's hurting consumers ) but it certainly has been beneficial for Enron," said Jeffrey Skilling, president and chief operating officer of the Houston-based energy and trading company. Enron declined to specify how much it earned from California during the past summer, when the state's deregulated electricity market sent power prices soaring. But the Texas company did say that profits of its sales and services unit ) which trades California electricity and o ther commodities ) increased 135 percent to $404 million. Dynegy Inc., also based in Houston, reported that income from its marketing and trade unit soared more than 300 percent to $142 million. Steve Bergstrom, president of Dynegy, said California was perhaps only the third-biggest contributor to that surge. But industry analysts said the earnings reports are the first indication of a pattern expected in coming weeks. "California clearly drove the positive momentum at both of these companies," said Carol Coale, senior analyst of Prudential Securities. "And you probably just saw the beginning of a string of strong reports (from the power industry)." She and others say they suspect that power companies derived billions in profits from the state, where tight supplies set the stage for huge price increases. Companies did not necessarily have to own generating plants to profit from the deregulated market. Enron produces no electricity in California but is the nation's largest electricity trader, buying and selling the output of power plants owned by other companies. Rep. Duncan Hunter, R-El Cajon, said the big profits should be seen in something other than a business context. "These massive profits by the energy companies translate directly into thousands of San Diegans losing savings that were planned for education, mortgage payments, health care and other . . . necessities," Hunter said. When the state power exchange saw dramatic price increases within a matter of hours, "it was clear that predatory pricing was producing massive profits for someone," Hunter said. Hunter insists that recent power prices violate federal law mandating that rates be "just and reasonable." He is calling for the Federal Energy Regulatory Commission to order refunds. FERC is scheduled to issue a report on the California market by Nov. 1. The political fallout from the price increases, meanwhile, appears to weigh heavily on power companies, which are reluctant to tout successes in California for fear of being singled out for profiteering. After noting that Dynegy's recent acquisitions in Illinois contributed strongly to the company's success last quarter, Bergstrom was reminded that he had omitted mention of California. "Illinois is not as politically volatile as California," Bergstrom said. He acknowledged that Dynegy did "pretty well" in California because its power plants produced far more electricity this year than last. Bergstrom also sought to correct an earlier report that Dynegy had quickly recouped the cost of power plants it recently acquired in the state. He said that was true only of the plants it owns in Long Beach and El Segundo, which it bought in 1998. Bergstrom said the cost of Dynegy's half interest in the former San Diego Gas & Electric Encina power plant in Carlsbad ) acquired at the end of 1998 ) had not been recovered. Typically, plant operators assume that it will take as long as 20 years to recoup such costs. In comments to financial analysts, Skilling, of Enron, suggested that power companies could help provide a solution to California's power problems. "Supply constraints and the resulting price pressures in California and other locations have demonstrated the need for skilled marketers like Enron to provide reliable power and stable prices," Skilling said. He predicted that California's utility companies ) which now buy much of their power from other companies ) would sign long-term contracts to stabilize prices, following an approach suggested by many power generators and traders. "If they were willing to extend the terms of their purchases to 10-year contracts, then they could get contracts for $50 a megawatt, which is not much different than they were paying two or three years ago," Skilling said. But consumer advocates have noted that long-term contracts at those levels would lock consumers into price increases and leave them with little choice about suppliers. Advocates of electrical deregulation had predicted that introducing competition would lead to reductions in power costs and to greater consumer choice. Harry Snyder, senior advocate for Consumers Union in San Francisco, said he was skeptical of solutions proposed by the power industry. "Any proposal from the industry has to be suspect because they have engaged in faking out the California public and price gouging when there are shortages," said Snyder, who advocates an end to deregulation. "They do not have consumer interests at heart."
Utilities' Demand Blocks Bailout NEGOTIATIONS HIT SNAG: PG&E, Edison want end to price freeze if they sell transmission lines to state David Lazarus, Chronicle Staff Writer Wednesday, March 21, 2001 ,2001 San Francisco Chronicle URL: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M N114450.DTL California's near-bankrupt utilities are demanding that higher electric rates be a part of any deal to sell the state their power lines, The Chronicle has learned. A rate increase -- perhaps of more than 50 percent, according to earlier industry estimates -- would certainly draw a firestorm of protest from consumer groups and force Gov. Gray Davis to backtrack from earlier pledges that rates would remain unchanged. Nevertheless, sources close to negotiations on the deal said Pacific Gas and Electric Co. and Southern California Edison are attempting to make higher rates a condition for agreeing to a bailout scheme in which they would sell the state their transmission systems and some land. The sources said the talks hit a new snag this week when state officials realized that fine print sought by the companies could require the Public Utilities Commission to pass along all of the utilities' costs to ratepayers. The sources said this would end a rate freeze that shields consumers from runaway wholesale electricity prices. The inclusion of potential rate increases in the talks reflects the growing complexity of a deal originally intended by Davis to stabilize the finances of PG&E and Edison so banks would resume loans to the cash-strapped utilities. The negotiations subsequently have expanded to involve a state purchase of the utilities' transmission networks and acquisition of utility-owned land, including spectacular coastal property near PG&E's Diablo Canyon nuclear power plant. Now they also have embraced further deregulation of California's dysfunctional electricity market. "Clearly, one of the terms being discussed is the regulatory environment," said Joseph Fichera, head of Saber Partners, a New York investment bank that is advising Davis in the talks. "The past situation has not worked well," he added. "The utilities want some certainty about their future." TENTATIVE DEAL WITH EDISON To date, the governor has announced a tentative agreement with Edison for the state to buy the utility's power lines for almost $3 billion. Discussions with PG&E for a similar accord have dragged on for weeks. An Edison official, asking that his name be withheld, acknowledged yesterday that an end to the rate freeze is an expected result of the power- line sale. "Once the details of the pact are complete, dominoes will fall," the official said. "One of the dominoes is the rate freeze." A PG&E spokesman declined to comment. In fact, both Edison and PG&E have been aggressively seeking an end to the rate freeze for months. The two utilities have a lawsuit pending in federal court demanding that the PUC immediately raise rates so the utilities can recover almost $13 billion in debt accrued as a result of the freeze. "They have been trying a lot of things to get the rate freeze ended in various forms," said Carl Wood, who sits on the PUC. "Adding it to the present talks is consistent with past behavior." Wall Street has taken note that the negotiations no longer appear to be making progress. Paul Patterson, an energy industry analyst at Credit Suisse First Boston, told clients on Monday that the discussions "may have lost some momentum in recent days." He did not give a reason. For his part, the governor sounded unusually cautious about the course of the talks when asked late last week if a breakthrough was imminent. SECRET STICKING POINTS "We are going to take the transmission systems and the land that's deeded, and we will work out an agreement," Davis said at an appearance in San Jose. "But there are a number of sticking points in the talks with PG&E that I'm not going to reveal." One of those sticking points apparently is an insistence that the sale of utility assets include a long-sought lifting of the rate freeze. Sources said lawyers from both PG&E and Edison had inserted the related terms into draft accords affecting each utility, and that the full impact of the additions was not realized by state officials until this week. One source said the language was just convoluted enough to slip beneath the radar screen of state negotiators. But the upshot, once the words had been parsed, was that the PUC effectively would lose control over power rates. CREDITWORTHINESS ON THE TABLE In Edison's case, the terms of the tentative deal include the governor asking the PUC "to support the creditworthiness" of the utility. "This would ensure that future investments in both utility distribution and utility generation plants are provided fair returns of and on capital, consistent with current authorized returns and capital structure provisions," it says. Sources said the provision could be interpreted as a guarantee from the state that Edison would be permitted to recoup all outstanding costs from ratepayers. "There may be some assumptions about this language that the rate freeze ends if it is adopted," the Edison official said, adding that he saw no reason to disagree with such assumptions. But Fichera, Davis' adviser in the talks, insisted that nothing is set in stone, and that the negotiations are proceeding without a hitch. "This is a very complex transaction," he said. "God and the devil are in the details." E-mail David Lazarus at [email protected]. ,2001 San Francisco Chronicle ? Page?A - 1
sounds good just let me know "K. Bass" <[email protected]> on 02/09/2001 12:40:21 PM Please respond to "K. Bass" <[email protected]> To: [email protected] cc: Subject: Re: Re:Mandell I called and left a message for Huldy for a 2:30 appt. Dad and I are going to a movie so I won't be here for a few hours. I'll call and try for a 2:00 at Mandell. O.k. with you? LU-M ----- Original Message ----- From: <[email protected]> To: "K. Bass" <[email protected]> Sent: Friday, February 09, 2001 10:05 AM Subject: Re: Re:Mandell > > we can hold off on seeing the w alabama house. just let me know about the > time for tomorrow > > e > > > > > "K. Bass" <[email protected]> on 02/09/2001 08:34:43 AM > > Please respond to "K. Bass" <[email protected]> > > To: [email protected] > cc: > Subject: Re: Re:Mandell > > > Good deal. I think you'll like Bob but, like Dad said, don't feel > obligated. Don't forget to put the contracts in a folder/envelope and > bring > them along. How many copies did you make? I'll call the realtors and see > about tomorrow. Did you want to see 400 W. Alabama again? It's usually > open on Sunday. LU-M > ----- Original Message ----- > From: <[email protected]> > To: "K. Bass" <[email protected]> > Sent: Friday, February 09, 2001 7:19 AM > Subject: Re: Re:Mandell > > > > > > Hey Mom, > > I would like to see the Mandell and the Huldy - preferably tomorrow > before > > 4ish. Let me know if that works for you. Dad is welcome to see > whichever > > houses he would like. > > > > FYI, I am meeting with Bob Dunn today after work, and I made copies of > the > > contracts. > > > > L, > > E > > > > > > > > > > "K. Bass" <[email protected]> on 02/09/2001 06:43:42 AM > > > > Please respond to "K. Bass" <[email protected]> > > > > To: [email protected] > > cc: > > Subject: Re: Re:Mandell > > > > > > Hi Eric, > > > > Do you want me to check with the realtors to see if those houses are open > > this weekend and, if not, do you want me to make appts.? Let me know. > > I'll > > do that today. I would like Dad to see Mandell but that's up to you. He > > can't do it today, I don't think. But, if you would like to see > something > > today, I'll try to arrange it. I would prefer to see all of them the > same > > day but I will leave the up to you. I didn't want you to think that I > have > > forgotten about you. Did you download the contract and make copies? > LU-M > > ----- Original Message ----- > > From: <[email protected]> > > To: "K. Bass" <[email protected]> > > Sent: Wednesday, February 07, 2001 2:45 PM > > Subject: Re: Re:Mandell > > > > > > > > > > no i haven't driven by yet. i would like to see the mandell house > again > > > before putting a contract in on it. > > > > > > -e > > > > > > > > > > > > > > > "K. Bass" <[email protected]> on 02/07/2001 02:45:35 PM > > > > > > Please respond to "K. Bass" <[email protected]> > > > > > > To: [email protected] > > > cc: > > > Subject: Re: Re:Mandell > > > > > > > > > Did you drive by Huldy? If so, what did you think? > > > > > > We can do a contract whenever you want. Did you call B. Dunn? > > > > > > Talk to you later. Love, Mom > > > ----- Original Message ----- > > > From: <[email protected]> > > > To: "K. Bass" <[email protected]> > > > Sent: Wednesday, February 07, 2001 11:11 AM > > > Subject: Re: Re:Mandell > > > > > > > > > > > > > > I am fine with seeing more houses before buying but was thinking that > > it > > > > might be a good idea to get the ball rolling on the Mandell house > (i.e. > > > low > > > > ball contract). This does not mean that I am wanting to buy right > away, > > > but > > > > more of testing the market and resolve of sellers. Let me know when > > you > > > > are available to see more houses. I am free whenever, except for > > > Saturday > > > > after around 4 pm. > > > > > > > > L, > > > > E > > > > > > > > > > > > > > > > > > > > > > > > "K. Bass" <[email protected]> on 02/07/2001 10:19:51 AM > > > > > > > > Please respond to "K. Bass" <[email protected]> > > > > > > > > To: [email protected] > > > > cc: "Larry W. Bass" <[email protected]> > > > > Subject: Re: Re:Mandell > > > > > > > > > > > > It's been so long since we talked, I don't know what I'm supposed to > be > > > > doing. > > > > > > > > Just finished real estate school and learned a few things - well, my > > > memory > > > > was refreshed. Re: precertification for a loan. A non-committal > > > response > > > > from an online source does not mean that you are precertified. And, > > you > > > > must be real careful about all conditions relating to said loan. Dad > > > > thinks > > > > you should call Bob Dunn (call Dad for number.). Bob is in the > > mortgage > > > > business and is a good guy to have on your side. His office is near > > San > > > > Felipe and Voss. You should probably get this ball rolling so you > are > > > > ready, don't you think? > > > > > > > > I am busy today but let me know if you want to see anything Friday. > We > > > > could wait until the weekend to see what's open and make appts. for > > > > whatever > > > > else you want to see. I recommend that you see a few more before > > making > > > an > > > > offer but that is up to you. > > > > > > > > Let me know what I can do. LU-M > > > > ----- Original Message ----- > > > > From: <[email protected]> > > > > To: <[email protected]> > > > > Sent: Wednesday, February 07, 2001 9:11 AM > > > > Subject: Re:Mandell > > > > > > > > > > > > > Any news? > > > > > > > > > > -e > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > >
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BUSINESS HIGHLIGHTS Enron Producer One Enron Producer One facilitates one-stop shopping for the producer,s infrastructure needs. Through business relationships with Hanover Measurement Services and Applied Terravision Systems, Enron Producer One will offer and custom-configure a number of valuable production services and pricing plans to reduce overhead and simplify back-office tasks. Initial products offered are well connects, transportation, marketing, measurement and accounting services. Enron Producer One is managed and supervised by John Grass. IN THE NEWS CEO says Texas in good shape for electricity deregulation DALLAS (AP) - Enron Corp.'s chief executive and president said Tuesday he believes that Texas energy markets are in good shape as the state prepares for deregulation. Jeffrey Skilling told an audience of about 400 business people at a downtown hotel that California "has given the term deregulation a terrible name." Electric deregulation in Texas officially starts Jan. 1. "In Texas, I think we've got a pretty good system," he said. In San Francisco on Tuesday, the California Public Utilities Commission unanimously approved electricity rate increases of up to 46 percent to try to head off blackouts this summer by keeping the state's two biggest utilities from going under. When California officials set up deregulation they allowed the price of wholesale electricity to rise but capped the amount companies could charge customers, Skilling said. SoCal Edison and Pacific Gas & Electric say they have lost more than $13 billion since last summer because they haven't been able to pass on the high cost of wholesale electricity. Skilling said Texans are in a much better position and shouldn't worry that their state's deregulation would be like the California experience. "California, they just put together a crazy system,8 he said in his first public comments since becoming the Houston-based company's chief executive officer in February. "The markets in California are the most regulated markets in North America today. And that's what is causing the problem." 03/27/2001 Associated Press Newswires Copyright 2001. WELCOME New Hires EGM - Charles Crow, Nancy Johnson, Gregor Lehmiller EIM - Darrell Aguilar, LaTrisha Allen, Wesley Wilder, Ronald Barnes ENA - Brian Cruver, Craig Dean, Martha Kessler EnronOnline STATISTICS Below are the latest figures for EnronOnline as of March 16, 2001. ? Total Life to Date Transactions > 813,000 ? Life to Date Notional Value of Transactions > $489 billion NUGGETS & NOTES Enron is hosting the New York Energy Risk Management Seminar at the St. Regis Hotel in New York City on April 5, 2001. Topics include Power Outlook, Natural Gas Outlook, Hedging Strategies and Weather Risk Management. The RSVP deadline is March 30th, so please contact Laura Pena as soon as possible at x3-5376. This is a great event for "new" as well as established customers. There will be a cocktail reception immediately following the presentations. NEWS FROM THE GLOBAL FLASH Enron Reopens Rassau Power Station Plans Enron Europe submitted an application to build a 1200MW combined cycle gas turbine power station on the Rassau Industrial Estate at Ebbw Vale, Wales in July 1998. In November 2000, the Government lifted its stricter power consents policy, which placed restrictions on the development of new gas-fired power stations, and Enron is now concluding the consultation process for the application As part of the process, updated environmental information has been submitted to the Department of Trade and Industry and a team from Enron will be presenting the plans to Blaenau Gwent Council on March 26. This will be followed by a three-day public exhibition in the local community. Enron expects to receive a decision later in the year. European Economic Summit: Acceleration Directives On March 23 and 24 the European Economic Council Summit will take place in Stockholm. At this summit the European Commission will present to the heads of the Member States a legislative proposal for a Directive and a Regulation that the Commission adopted on March 13 to speed up the completion of the internal electricity and gas markets. Enron issued a statement to the media on the evening of Wednesday 21st March stating that it specifically endorses the following initiatives incorporated in the text of the adopted proposal: Legal unbundling of the transmission and distribution networks as a realistic solution, ensuring the independence of transmission and distribution system operators. Mandatory appointment of independent regulators in each country with the obligation to fix or approve transmission tariffs before they come into force. The current timetable proposed by the Commission: market opening for electricity in 2003 and for gas in 2004 (industrial, commercial and wholesale customers); and for supplies to all consumers including households by 2005. The setting of rules in the Regulation for how power transmission tariffs can be charged for cross-border transactions and how congestion and capacity allocation at borders within the EU should be managed by transmission system operators. Enron concludes that it is encouraged by the efforts of the Commission to accelerate the European electricity and gas market opening and the reinforcement of third party rights of access to transmission networks. The Commission's approach of harmonizing both the timetable and the regulatory framework deserves support from all Member States. LEGAL STUFF The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed.
Drew, I think your last question is the one most critical to us at this point. The marketers can go out and start selling the project but are having a hard time defining how the capacity will be allocated. I left a message yesterday for Mary K. regarding these same issues. Thanks. Drew Fossum 02/14/2001 04:38 PM To: Susan Scott/ET&S/Enron@ENRON, [email protected], Mary Kay Miller/ET&S/Enron@ENRON, Keith Petersen/Enron@EnronXGate cc: Shelley Corman/Enron@EnronXGate, Maria Pavlou/Enron@EnronXGate, Steven Harris/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Lorraine Lindberg/ET&S/Enron@ENRON Subject: TW Expansion There were several questions left for legal/regulatory to work on at the close of our meeting today. I'll try to restate them, and add my initial thoughts, so we can all be sure to focus on the correct problems. Q 1. Can TW use "negotiated rate" agreements for its new 150 mm/d expansion? A. Yes. Independence, Guardian, and other new pipeline projects were certificated on the basis of negotiated rate contracts. The only restriction is that we need to always offer cost-based recourse rate service as an alternative to negotiated rates. We hope to use negotiated rate agreements for the entire 150 mm of capacity, but we won't know until the contracts are executed how much of it will be negotiated rate contracts and how much of it will be under recourse rate contracts. I guess that means that in the cert. app., we just tell the commission that we will be 100% at risk and that given the huge interest in the open season, we have no doubts about our ability to sell the full 150. We should also tell the Commission we expect to sell the capacity using negotiated rate contracts or recourse rate contracts or a combination of both. Q 2. Can we give prospective customers a "cafeteria style" menu of options (to steal Jeff's term), like the following: 1. 5 yr. neg. rate deal at a locked in $.60 plus fuel and surcharges (or whatever number we decide on) 2. 10 y. neg. rate deal at a locked in $.45 plus fuel and surcharges 3. 15 yr. neg rate deal at a locked in $.35 blah blah 4 . 15 yr cost based recourse rate plus fuel and surcharges (importantly this option is not locked in and will float with TW's actual rate levels and fuel retainage percentages) A. I think the answer here is "yes." Whatever options we come up with for 1, 2, and 3, we will always have to offer 4 as well. Susan and Steve Stojic: please confirm that we have the right to define specific negotiated rate options and stick to them. Otherwise, this negotiated rate approach could get completely unstructured such that we end up with some guys taking our specific options and other guys custom tailoring weird variations (like a 7 yr, 231 day contract at $.51764, for example). I'm not sure that would be a bad thing, but we need to think about it. We need to be sure we can tell a customer "no" and make it stick if he tries to mix and match by asking for the 5 yr term and the $.35 rate, for example. I think we can lay out options of our choosing and then enforce a "no substitutions" policy (this is sticking with the "cafeteria" theme) but we need to be sure. Q.3. If we can use the "cafeteria options" approach, how much flexibility do we have in structuring the options? A: This one is hard. We need to be sure that the price and term we choose to offer for options 1-3 is solely within our discretion. We don't want to be second guessed by FERC as to whether we should have offered option 1 at $.58 instead of $.60. Susan and Steve: if you guys confirm that we have discretion in how to structure our negotiated rate options, does that mean we can slant the economics of the negotiated rate options so they are a better deal than the recourse option (for most shippers)? I.e., could we deliberately incent shippers to sign on for the short term deals--i.e., by offering options 1-3 at $.55, $.45 and $.40 instead of the $.60, $.45, and $.35 shown above. I suspect that is what Guardian and the other pipes did to obtain 100% subscription under neg. rate deals. Q.4. How do we allocate capacity to customers if demand exceeds supply??? A. Ideally, we'd be able to allocate the 150 to the guys who want to buy it the way we'd prefer to sell it. Under the above example, assuming Stan, Danny and Steve decide short term deals are better, what if we get 100 mm/d of offers on each of the 4 rate/term options described above. That's 400 mm/d of demand for a 150 mm/d project. Can we sell 100 to the guys who want option 1 ($.60/5 yrs) and the remaining 50 to the 10 yr/$.45 guys? That really hoses the recourse bidders. Do we have to cover the recourse demand first and then allocate the remaining capacity pro rata to everyone else? Pro rata to everyone? Under the rule that negotiated rate bids have to be deemed to be at max rate for purposes of allocation, pro rata to everyone may be the right answer. Or at least its the answer until we've filled the recourse rate guys' orders, then we can give the remaining capacity to the neg. rate guys whose bids we value most highly (using some objective nondiscriminatory calculation of course). Ugh. Susan and Steve--please take a crack at questions 2-4. I think 1 is answered already. I haven't done any research yet, so maybe these questions are easier than they currently seem to me. Get me and MKM on the phone at your convenience to discuss. We've gotta move quick so the marketers can get out and sell this stuff. DF
To close the loop on this, I think Lori should review Bob's findings and comment on same once she returns from vacation. SWD "Baird, Bob" <[email protected]> 06/30/00 04:10 PM To: "'Horton, Stan'" <[email protected]> cc: Steve Duffy/Houston/Eott@Eott, "Pena, Carlos" <[email protected]> Subject: Available Cash for the Fourth Quarter CONFIDENTIAL/ATTORNEY-CLIENT PRIVILEGE Stan: I have given considerable thought to the issue you raised in the meeting on June 15 -- that is, whether the amount of Available Cash for the fourth quarter of 1999 could be recomputed so that the issuance of APIs for that quarter could be rescinded. My delay in getting back to you was occasioned by the fact that I went on vacation shortly after that meeting and just returned to work yesterday. The reason the question is worth exploring is this --- Enron Corp. has certain rights under its support agreement with EOTT, and it is entitled to exercise those rights notwithstanding the fact that it also has a fiduciary duty as a controlling shareholder. I approached the question solely as counsel for Enron and from the standpoint of evaluating the merits of any claim that Enron could make that the API issuance should be rescinded. From that standpoint it is no different from asking: if EOTT were dealing with an unrelated third party would that third party have a claim for rescission? Unfortunately, based on the facts as I understand them, I have been unable to formulate a claim that has sufficient merit to be worthy of assertion, as explained below. The computation of Available Cash for any quarter is based on (a) cash receipts and disbursements and (b) increases or reductions in cash reserves, which the General Partner "determines in its reasonable discretion to be necessary or appropriate." Thus, the question is whether there is a basis for recomputing the cash receipts or the reserves for the fourth quarter. Cash Receipts. I would think there may well be a valid claim in a situation in which EOTT made a mistake in its calculations of cash receipts or disbursements, even if that mistake was discovered several months later. It is my understanding, however, that the scrub-down of the books for the fourth quarter turned up only immaterial discrepancies from the amounts that had been calculated for the fourth quarter in mid-February, when the distribution of Available Cash for the quarter was made. Thus, I am aware of no meritorious argument that Enron is entitled to rescission because of EOTT's mistakes in calculating its cash receipts or disbursements for the quarter. That being the case, the only other issue that is worth focusing on is the reserves. Reserves. The only component of the reserves that I am aware of that is large enough to bear scrutiny is the theft-related insurance item. There were no cash receipts from the insurance prior to the distribution, so any claim for rescission must focus on the amount of reserves for the fourth quarter. If the level of reserves was determined in a manner that was not consistent with the "reasonable discretion" standard set forth in the partnership agreement, Enron would have a valid claim for rescission. Presumably had the General Partner known in mid-February that insurance would cover the $3 million loss (other than the $500,000 deductible), it would have reduced reserves by $2.5 million (either by setting aside less in reserves or releasing reserves established in prior quarters), which would have produced $2.5 million of additional Available Cash. In that case there would not have been any APIs required. Is there a basis for a claim that the General Partner did not use "reasonable discretion" when it established the level of reserves? Based on the facts as I understand them, I have been unable to come up with a good argument that the General Partner was not using its "reasonable discretion" in making the determination it made. It is my understanding that, although at the time the General Partner was aware that it had theft insurance, it did not know whether the insurance would cover the entire $3 million loss or merely the $800,000 in fair market value of the product at the time of the theft (less the $500,000 deductible). I also understand that the insurance carrier had not admitted liability at that time, so there was some question whether there would be any insurance proceeds. Thus, it seems it would be very difficult to establish that the General Partner did not use its reasonable discretion. The partnership agreement makes it clear that the amount of Available Cash is to be computed based on (a) actual receipts and disbursements during the quarter and (b) distributions from the operating partnerships and reserves established, or changes in reserves, that in each case occur prior to the "date on which the Partnership makes its distribution of Available Cash in respect of such quarter." Thus, the partnership agreement leaves no room for going back and redoing reserves based on events that occur after the distribution for the quarter. Please call if you have any questions about this analysis or if you think I do not have my facts straight or need additional facts. You can reach me at 713/758-2414. Robert S. Baird Vinson & Elkins L.L.P. One American Center 600 Congress Avenue Austin, Texas 78701-3200 Office phone: 512/495-8451 Fax: 512/236-3210 Home phone: 512/347-8065 Car phone: 512/627-8065 Pager: 1-888-487-2651 Voice mail: 512/495-8696, x8451 Internet: [email protected]
we can do two groups of 3 -----Original Message----- From: "siva66" <[email protected]>@ENRON [mailto:IMCEANOTES-+22siva66+22+20+3Csiva66+40mail+2Eev1+2Enet+3E+40ENRON@ENRON.com] Sent: Friday, September 14, 2001 12:02 PM To: [email protected]; Quigley, Dutch; [email protected]; [email protected]; [email protected] Subject: RE: don't you guys think we need at least a 7th for golf so they will not make us pair up with someone else? my friend christian cancelled when he found out kevin was going to be there. thanks alot kevin!!! ricardo ---------- Original Message ---------------------------------- From: "Mark Molnar" <[email protected]> Date: Fri, 14 Sep 2001 10:37:23 -0500 >Jerry is a no for Sat. > >>>> "siva66" <[email protected]> 09/14/01 10:30AM >>> >i hope so because we only have 6 so far: kevin, mark, dutch, >richard, ernie, and myself. > > >---------- Original Message ---------------------------------- >From: "Mark Molnar" <[email protected]> >Date: Fri, 14 Sep 2001 09:28:40 -0500 > >>I'm glad someone else is starting to see what I've had to put up >with all of these years. You should have heard his response as to >why he couldn't pay the rent or the phone bill or go grocery >shopping for the month. Oh wait a minute that was Rob, not >Jerry. I always get the two mixed up. Once again I will >ask.....Jerry are you going to go golfing manana? >> >>>>> <[email protected]> 09/14/01 08:10AM >>> >>jerry is practicing his law talk >>did not answer the question but gave a 500 word response >> >> -----Original Message----- >> From: "Mark Molnar" <[email protected]>@ENRON >> [mailto:IMCEANOTES- >+22Mark+20Molnar+22+20+3CMarkM+40cajunusa+2Ecom+3E+40ENRON@ENRON.c o >m] >> >> >> Sent: Friday, September 14, 2001 8:00 AM >> To: [email protected]; Quigley, Dutch; >> [email protected]; >> [email protected]; [email protected]; >[email protected]; >> [email protected] >> Cc: [email protected] >> Subject: RE: >> >> Three >> >> >>> "Martinez, Ernesto Jr" <[email protected]> 09/13/01 >06:30PM >>> >> WHat is the over/under on the number of times Jerry throws his >club(s)? >> >> -----Original Message----- >> From: Quigley, Dutch [mailto:[email protected]] >> Sent: Thursday, September 13, 2001 5:45 PM >> To: [email protected]@ENRON; Martinez, Ernesto Jr; >[email protected]; >> [email protected]; [email protected]; [email protected]; >> [email protected] >> Cc: [email protected] >> Subject: RE: >> >> >> ok that is fine , I will give mark jerry's' balls , I just >want a chance >> to kick your ass at golf buddy >> >> I am still waiting for Nov. 2 .................then I can kick >the ass >> of a golfing lawyer >> >> dq >> >> > -----Original Message----- >> > From: [email protected]@ENRON >> > [mailto:[email protected]] >> > Sent: Thursday, September 13, 2001 5:28 PM >> > To: [email protected]; [email protected]; >[email protected]; >> > [email protected]; [email protected]; [email protected]; >Quigley, Dutch >> > Cc: [email protected] >> > Subject: RE: >> > >> > Alright, I'll throw my two cents in. Dutch is right, Ricky >is right, >> > Ernie is right, as is Kevin and everyone else who >responded. We are >> > an extremely fortunate bunch. We tend to be extraordinarily >resilient >> > and forgiving. I took a bunch of flak over the past three >years for >> > my frequent absences, however, they were not absences >because of a >> > flippant attitude. Law school took its toll as did >accommodating Jo's >> > set of friends. My time had to be split many ways and it >can be >> > difficult to juggle everything as I am sure you are all >aware. But, >> > mind you, I was not absent because I didn't care, or found >something >> > better to do. It was never because I didn't want to. At >the risk of >> > this becoming even more of a love in, you guys should know, >as this is >> > apparently the only opportunity we've taken, you are my >friends. And >> > I would like to keep it that way. I have to go now. Mark >says that >> > that the keyboard placement blocks his access to my balls. >> > >> > Jerry >> >> >> >****************************************************************** * >* >> This e-mail is the property of Enron Corp. and/or its relevant >affiliate >> and >> may contain confidential and privileged material for the sole >use of the >> intended recipient (s). Any review, use, distribution or >disclosure by >> others is strictly prohibited. If you are not the intended >recipient (or >> authorized to receive for the recipient), please contact the >sender or >> reply >> to Enron Corp. at [email protected] and >delete >> all >> copies of the message. This e-mail (and any attachments >hereto) are not >> intended to be an offer (or an acceptance) and do not create >or evidence >> a >> binding and enforceable contract between Enron Corp. (or any >of its >> affiliates) and the intended recipient or any other party, and >may not >> be >> relied on by anyone as the basis of a contract by estoppel or >otherwise. >> Thank you. >> >**************************************************************** * >*** >> >> >> > > >________________________________________________________________ >Sent via the EV1 webmail system at mail.ev1.net > > > > > ________________________________________________________________ Sent via the EV1 webmail system at mail.ev1.net
sold! I'll initiate the call. -----Original Message----- From: Vince J Kaminski [mailto:[email protected]] Sent: Friday, June 30, 2000 3:44 PM To: [email protected] Cc: Vince J Kaminski Subject: RE: Pre-meeting Weathereffects site cruise Ed, Thursday works for me. What about 10:30 my time? Vince "Edward Krapels" <[email protected]> on 06/30/2000 02:43:00 PM Please respond to <[email protected]> To: "'Vince J Kaminski'" <[email protected]> cc: Subject: RE: Pre-meeting Weathereffects site cruise how about Thursday, July 6? -----Original Message----- From: Vince J Kaminski [mailto:[email protected]] Sent: Friday, June 30, 2000 3:29 PM To: [email protected] Cc: Vince J Kaminski Subject: RE: Pre-meeting Weathereffects site cruise Ed, A correction. I shall spend an entire day at PRC (performance review) on Friday, July 7. Can we do on another day Vince "Edward Krapels" <[email protected]> on 06/30/2000 12:40:59 PM Please respond to <[email protected]> To: "'Vince J Kaminski'" <[email protected]> cc: Subject: RE: Pre-meeting Weathereffects site cruise I'll still be here in Boston so we'd do it over the phone. OK? -----Original Message----- From: Vince J Kaminski [mailto:[email protected]] Sent: Friday, June 30, 2000 12:11 PM To: [email protected] Cc: Vince J Kaminski Subject: Re: Pre-meeting Weathereffects site cruise Ed, Will you be in Houston on that day or we shall do it over the phone? Vince "Edward Krapels" <[email protected]> on 06/30/2000 09:13:04 AM Please respond to <[email protected]> To: "'Vince J Kaminski'" <[email protected]> cc: "Jeffrey Shorter $E-mail$" <[email protected]> Subject: Pre-meeting Weathereffects site cruise Vince, How about a pre-meeting web site cruise on Friday, July 7 at 11AM EDT? Ed -----Original Message----- From: Vince J Kaminski [mailto:[email protected]] Sent: Friday, June 30, 2000 9:52 AM To: [email protected] Cc: Vince J Kaminski Subject: RE: Next visit to Houston Ed, July 12, 2:30 it is. I would like the pre-meeting site cruise. How can we arrange it? Vince "Edward Krapels" <[email protected]> on 06/30/2000 04:00:53 AM Please respond to <[email protected]> To: "'Vince J Kaminski'" <[email protected]> cc: "Jeffrey Shorter $E-mail$" <[email protected]> Subject: RE: Next visit to Houston Vince, We're all set for 2:30 on July 12. How about a pre-meeting web site cruise on Friday, July 7 at 11AM EDT? Ed -----Original Message----- From: Vince J Kaminski [mailto:[email protected]] Sent: Thursday, June 29, 2000 5:04 PM To: [email protected] Cc: Vince J Kaminski; Shirley Crenshaw Subject: RE: Next visit to Houston Ed, Wednesday, July 12, 2:300 will work for me. I shall be glad to review your website -- www.weathereffects.com. I shall invite some people who work on electricity in my group to join me. Vince "Edward Krapels" <[email protected]> on 06/29/2000 03:53:40 PM Please respond to <[email protected]> To: "'Vince J Kaminski'" <[email protected]> cc: "Jeffrey Shorter $E-mail$" <[email protected]> Subject: RE: Next visit to Houston Vince, Good to hear from you and I'm glad you're available. How is Wednesday at 2:30? I did look at EOL and am not surprised to see its quality. I was unable to say much about it in my Risk Electricity Hedging and Trading report because of deadline pressures. How is the site doing? I am intrigued by the competition for trading platforms and was astonished to hear that Goldman, Morgan, BP and Shell were going to launch a site to compete with yours. Talk about a shotgun marriage! If we have time next week, I could step you through our website -- www.weathereffects.com. I'm very proud of what we've done. I can't give out a password yet but would be happy to walk through the site with you over the phone using my password. It's a very ambitious site -- with state-of-the-art WSI weather (seasonal, 6-10, and day to day) driving a good load model for PJM and NEPOOL. ESAI contributes oil and gas input price forecasts, capacity judgments, and "herding" ideas to develop power price forecasts for same time periods. After one month's full-bore effort, I'm pleased with the results (e.g., we forecast Nepool onpeak to be $43 and it turned out $46). Have a great weekend. Ed -----Original Message----- From: Vince J Kaminski [mailto:[email protected]] Sent: Wednesday, June 28, 2000 5:29 PM To: [email protected] Cc: Vince J Kaminski; Shirley Crenshaw Subject: Re: Next visit to Houston Ed, I shall be available on both days. What about Wednesday, July 12, between 1:30 and 4:00. Please, let me know what time would work for you. It will be nice to see you again. Vince P.S. By the way, did you have a chance to take a look at the EOL? "Edward Krapels" <[email protected]> on 06/28/2000 02:49:41 PM Please respond to [email protected] To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Next visit to Houston Dear Vince, I will be returning to Houston during the week of July 10. ESAI and Weather Services International have launched -- after more than 18 months of R&D -- our service, called Energycast Power Trader and Energycast Gas Trader, for power traders in Nepool and PJM. I would be happy to review the service with you as well as take you on a tour of our web site. Are you available on July 12 - 13? Sincerely, Ed Krapels
INTERNET STOCK NEWS [tm] http://www.123jump.com ISN Ones to Watch 1/14/2002: A Visit To HQ In South Beach _______________________________________________________________ TABLE OF CONTENTS 1. Overall Sentiment 2. Observations 3. A Visit To HQ In South Beach 4. Sonny T. Crosses The Line 5. Comment Welcomed ---------------------------SPONSOR---------------------------- New FREE Report. "Armadillo Stocks: 5 Investments That Win By Never Losing" shows how to make BIG PROFITS without big risks. It's FREE. Nothing to buy, try or cancel. Click here: http://www.ppi-orders.com/index.htm?promo_code=0ZX138 -----------------------------*------------------------------ 1. Overall Sentiment The popular averages traded higher in the first five days of the market week for Jan. 7-11, confirming the so-called January Barometer that says that if the first five trading days are positive, then this bodes well for the remainder of the year. This doesn't mean that the popular averages won't experience one or two relatively serious stumbling blocks by the end of the last trading session of 2002. During the past five days, the Standard & Poor's 600 Small Cap Index reached an all-time high, giving further confirmation that small cap stocks will reward investors in 2002. But what about the Big Cappers such as Microsoft, IBM, Sun Microsystems, Cisco Systems? In my view, I figure these companies won't surprise Wall Street by announcing that they've entered into Chapter 11 bankruptcy the way Enron and Exodus Communications did in 2001. Of course, the speculators went after Enron and Exodus after the bad news, figuring this is where we can make a double, triple, much less God knows how rich we can get if these companies actually come back from the abyss. If this is all Wall Street has to offer in the year 2002: speculating in busted companies and forget about an economic recovery and all that such a concept implies, then let's hope that more companies go bankrupt. In other words, you buy them at 0.035 a share and sell them at 0.07 a share and you've doubled your investment. Still, that's a double, and who can argue with that? Speaking of doubles, a lot of beaten up Internet stocks from the 1998-2000 Era have doubled off the lows since the 9/11 Attack on America. But will they be the 10-Baggers of 2002? 2. Observations The price for a gallon of regular gasoline remained the same: $1.07.99, since my last once-a-week taxi ride to the supermarket. Despite the attempts of OPEC to create a bull market in oil futures, the February contract for West Texas Intermediate Crude that trades at the New York Mercantile Exchange went out at $19.68 a barrel on Friday, Jan. 11. On Friday, Jan. 4, the nearby contract closed at $21.62 a barrel. That meeting between President George W. Bush and Russian Premier Vladimir Putin last December is having its effects on the international crude oil markets. In my view, we're still dependent on oil and natural gas to keep the U.S. economy humming, much less the rest of the world. 3. A Visit to HQ In South Beach This newsletter will be relatively short by default. I was scheduled to show up at 123Jump.com headquarters at 407 Lincoln Rd. in Miami Beach on Monday afternoon, Jan. 14. My CEO, Manish Shah, phoned me Friday evening, Jan. 11, with instructions that I show up in Miami Beach sometime Sunday, Jan. 13. This is a situation of "you gotta do what you gotta do." I want to apologize for not providing more "insight" that some readers think I seem to possess in this week's newsletter. I compile the basic outline for this newsletter over the weekend and then finish it on Mondays prior to publication on Tuesday. 4. Sonny T. Crosses The Line In my regular e-mail and telephone conservations with Sonny T., the former International Business Machines employee turned full-time trader, I have learned that he is filing with the Internal Revenue Service for full-time trader status. That is a major step. Basically, what it amounts to, for better or for worse, is that one says, "I am a trader." Still, as we all know, that climb up the mountain begins with that first step. ---------------------------SPONSOR---------------------------- New FREE Report. "Armadillo Stocks: 5 Investments That Win By Never Losing" shows how to make BIG PROFITS without big risks. It's FREE. Nothing to buy, try or cancel. Click here: http://www.ppi-orders.com/index.htm?promo_code=0ZX138 -----------------------------*------------------------------ 5. Comment Welcomed A resident of Wilmington, NC, Dave Jennings performs market research for Ticker magazine, a monthly publication for financial professionals. Dave enjoys reader comment and replies to all e-mails. He can be reached at [email protected] or [email protected]. --------------------------------------------------------------- INTERNET STOCK NEWS (ISN) (c) 2001 Disclaimer: The material herein is for informational purposes only and should not be deemed an offer or solicitation on our part with respect to the sale or purchase of any securities. http://www.123jump.com/disclaimer.htm --------------------------------------------------------------- -------------------------------------------------- You are currently subscribed to Internet Stock News Weekly as: [email protected] To Cancel your subscription please go to: http://123jump.com/confirm.htm?listid=117996&mid=115298 To Change your subscription please go to: http://123jump.com/letters.htm?S=L&[email protected]
COLUMBIA GAS TRANSMISSION CORPORATION NOTICE TO ALL INTERESTED PARTIES OCTOBER 25, 2001 Notice ID: 3211 5 - NO RESPONSE REQUIRED SUBJECT: REVISED-CAPACITY UPDATE EFFECTIVE FOR SATURDAY, OCTOBER 27, 2001 AND SUNDAY, OCTOBER 28, 2001 CHANGES ARE INDICATED WITH AN * Effective Saturday, October 27, 2001 and Sunday, October 28, 2001, capacities will be as follows: Excess MDWQ Available + ISS Withdrawals Available SIT Withdrawals Available Imbalance Drawdowns Available Excess MDIQ Available + * ISS Injections Available * SIT Injections Available * Imbalance Paybacks Available * PAL Lends/Unparks Available PAL Parks/Loan Paybacks Available * + Call Gas Control 24 hours in advance at (304) 357-2606 to request approval. Non-firm receipt capacity will be as follows: TENNESSEE: Brinker (B12) 20,000 Broad Run (B9) 300,000 Cambridge (B10) 20,000 Dungannon (B11) 20,000 Highland (B17) 0 NOTE: GAS RECEIVED AT HIGHLAND MUST BE DELIVERED IN THE NORTHERN PORTION OF MARKET AREA 38 OR THE NORTHWEST LATERAL OF MARKET AREA 36, DIRECTLY NORTH OF HIGHLAND. Milford (B18) 20,000 North Greenwood (B22) 0 Unionville (B15) 50,000 NOTE: EFFECTIVE THURSDAY, AUGUST 16, 2001, ANY SHIPPER UTILIZING A CONTRACT THAT HAS A PRIMARY RECEIPT POINT(S) WITH THE FOLLOWING POINTS, MUST UTILIZE THESE POINTS: Brinker (B12) Cambridge (B10) Dungannon (B11) Highland (B17) Milford (B18) Unionville (B15) TEXAS EASTERN: Delmont (C16) 0 Eagle (C22) 20,000 Hooker (C9) 20,000 Pennsburg (C23) 20,000 Windridge (C12) 20,000 NATIONAL FUEL: Independence (M1) 0 Ellwood City (L1) 15,000 TRANSCO: Downingtown (E3) 2,500 Emporia I (E13) 2,500 * Rockville (E2) 0 Dranesville (E1) 0 EQUITABLE GAS: Hi Hat (F3) 0 KENTUCKY WEST VIRGINIA (KYWV): Beaver Creek (H1) 0 CNR PIPELINE: Boldman (CNR02) 0 Conoway (CNR03) 0 Johns Creek (CNR08) 0 Canada (CNR09) 0 Canada (CNR10) 0 Stafford (CNR11) 0 Thacker/Majestic (CNR12) 0 Briar Mtn. (CNR13) 0 Huff Creek (CNR14) 0 CONOCO: 0 Grant (P1) 0 NOTE: ANY APPALACHIAN PRODUCTION FLOWING DIRECTLY INTO COLUMBIA'S LINE KA BETWEEN COLUMBIA'S BOLDMAN COMPRESSOR STATION AND COLUMBIA'S HUFF CREEK COMPRESSOR STATION AS WELL AS PRODUCTION FLOWING INTO COLUMBIA'S LINES SM-116, KA-15, PM-3, AND PM-17 IS 0 NON-FIRM. ALGONQUIN: Ramapo (R1) 75,000 ANR: Paulding/Cecil 30,000 (F1, A2) LEBANON AGGREGATE 100,000 (A4, F2, C4, D3) TOLEDO AGGREGATE 100,000 (A3, F4, 734462) COLUMBIA GULF: (801) TCO-Leach 700,000 Internal point non-firm capacity will be as follows: Lanham 0 Delivery capacity (non-firm) will be as follows: TRANSCO: Martins Creek 10,000 (MLI E5) Young Woman's Creek 10,000 (MLI E9) ALGONQUIN: Hanover 0 (MLI R2) EQUITRANS: Fallen Timber 31,000 (MLI K1) Waynesburg-Rhinehart 20,000 (MLI K2) OPT-30 will be available in all market areas. OPT-60 will be available in all market areas. Market Area delivery capacity (non-firm) will be as follows: Operating Area 1 Market Area 33 No Restrictions Market Area 34 No Restrictions Operating Area 2 Market Area 20 No Restrictions Operating Area 3 Market Area 15 No Restrictions Market Area 16 No Restrictions Market Area 17 No Restrictions Market Area 18 No Restrictions Market Area 19 No Restrictions Operating Area 4 Market Area 21 No Restrictions Market Area 22 No Restrictions Market Area 23 No Restrictions Market Area 24 No Restrictions Market Area 25 No Restrictions Market Area 29 No Restrictions Operating Area 5 Market Area 02 No Restrictions Market Area 07 No Restrictions Operating Area 6 Market Area 10 No Restrictions Market Area 11 No Restrictions Market Area 12 No Restrictions Market Area 13 No Restrictions Market Area 14 No Restrictions Operating Area 7 Market Area 01 No Restrictions Market Area 03 No Restrictions Market Area 04 No Restrictions Market Area 05 No Restrictions Market Area 06 No Restrictions Market Area 08 No Restrictions Market Area 09 No Restrictions Operating Area 8 Market Area 26 No Restrictions Market Area 27 No Restrictions Market Area 32 No Restrictions Market Area 35 No Restrictions Market Area 36 No restrictions for southern part of Market Area 36. Primary receipts/deliveries only for gas delivered in the northern portion of Market Area 36. Market Area 38 No Restrictions Market Area 39 No Restrictions Market Area 40 No Restrictions NOTE: GAS DELIVERED IN THE NORTHERN PORTION OF MARKET AREA 38 OR THE NORTHERN PORTION OF MARKET AREA 36 MUST BE RECEIVED FROM TENNESSEE GAS PIPELINE AT HIGHLAND. Operating Area 10 Market Area 28 No Restrictions Market Area 30 No Restrictions Market Area 31 No Restrictions If you have any questions, please contact your Account Representative.
Notice No. 00-338 October 3, 2000 MEMORANDUM TO: ALL NYMEX AND COMEX MEMBERS FROM: Neal L. Wolkoff, Executive Vice President DATE: October 3, 2000 RE: Notice of CFTC Approval of New NYMEX Rule 6.40C: ("Average Price Calculations by Futures Commission Merchants") Please be advised that the CFTC has approved new NYMEX Rule 6.40C ("Average Price Calculations by Futures Commission Merchants"), which is attached and is now in effect. New NYMEX Rule 6.40C, which is consistent with a recent CFTC "Advisory," permits FCMs, under certain conditions specified in the rule, to use their own internal, proprietary systems to generate average price ("AP") calculations when multiple prices are received on an order or series of orders. AP calculations are not being provided by the Exchange for NYMEX Division contracts. New NYMEX Rule 6.40C is applicable only to NYMEX Division contracts. A similar proposal for COMEX Division contracts remains pending with the CFTC. The conditions specified in NYMEX Rule 6.40C include the following: 1. The customer has requested average price reporting; 2. Each individual trade is submitted to and cleared by the Exchange at the executed price; 3. The FCM calculates and confirms to its customers a weighted mathematical average price; 4. The FCM possesses the records to support the calculations and the allocations to customer accounts and maintains all such records pursuant to CFTC regulations and further makes such records available for inspection by affected customers upon request; and 5. The FCM identifies each trade to which an average price is assigned as having an average price on each confirmation statement and monthly statement on which the trade is reported to the customer. If you have any questions, please contact Tom LaSala, Vice President, Compliance Department, at (212) 299-2897, or Brian Regan, Senior Associate General Counsel, at (212) 299-2207. Approved New NYMEX Rule 6.40C ("Average Price Calculations by Futures Commission Merchants") (Entire rule is new.) Rule 6.40C Average Price Calculations by Futures Commission Merchants (A) Eligible Accounts. An FCM, subject to compliance with the conditions specified in this rule, may report and/or confirm to customers an average of multiple execution prices and may use its own proprietary system to make such average price calculations, regardless of whether the Exchange also provides a service for average price calculations for the applicable NYMEX Division contract, provided: (a) that such prices were obtained as the result of the execution of an order or series of orders to purchase or sell the same futures and/or the same option series for the same account or group of accounts; or (b) that such prices were obtained as the result of the execution of trades to purchase or sell the same futures and/or the same option series for the FCM's proprietary account(s), provided further however, that trades for such a proprietary account are not averaged with trades for any other account. For purposes of this rule, eligible accounts may include multiple accounts that are part of a managed account program or other common investment program. Eligible accounts may include individual non-discretionary accounts, except that prices for non-discretionary accounts may not be averaged with prices for other non-discretionary accounts. Eligible accounts also may include individual discretionary accounts consistent with the provisions of Exchange Rule 6.41. (B) An FCM may use its own system to calculate average prices for contracts executed on the Exchange provided that the following conditions are met for all such transactions: 1. The customer has requested average price reporting; 2. Each individual trade is submitted to and cleared by the Exchange at the executed price; 3. The FCM calculates and confirms to its customers a weighted mathematical average price, as calculated pursuant to the requirements of Section (C) below; 4. The FCM possesses the records to support the calculations and the allocations to customer accounts and maintains all such records pursuant to CFTC regulations and further makes such records available for inspection by affected customers upon request; and 5. The FCM identifies each trade to which an average price is assigned as having an average price on each confirmation statement and monthly statement on which the trade is reported to the customer. (C) Calculation of Average Price. The weighted mathematical average price shall be computed by FCMs by: (a) multiplying the number of contracts purchased or sold at each execution price by that price; (b) adding the results together; and (c) dividing by the total number of contracts. For a series of orders, the average price may be computed based on the average price of each order in that series. FCMs may confirm to customers either the actual average price or the average price rounded to the next price increment, provided however, that in confirming the average price rounded to the next price increment, the FCM must round the average price up to the next price increment for a buy order or down to the next price increment for a sell order, and must pay any residual thus created to the customer, except that any residual amount of less than one cent may be retained by the FCM. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/[email protected]& refdoc=(00-338)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
Total Trades for Day 629 EOL Deals From: 11/01/2001 To: 11/13/2001 EnPower From: 11/01/2001 To: 11/13/2001 Desk Total Deals Total MWH Desk Total Deals Total MWH EPMI Long Term California 373 5,787,856 EPMI Long Term California 36 1,256,554 EPMI Long Term Northwest 177 2,456,200 EPMI Long Term Northwest 76 2,553,393 EPMI Long Term Southwest 236 5,578,466 EPMI Long Term Southwest 201 7,778,128 EPMI Short Term California 1,036 1,262,040 EPMI Short Term California 375 935,081 EPMI Short Term Northwest 602 776,640 EPMI Short Term Northwest 249 495,213 EPMI Short Term Southwest 813 1,193,952 EPMI Short Term Southwest 404 1,674,462 Real Time 769 19,525 Real Time 271 26,026 Grand Total 4,006 17,074,679 Grand Total 1,612 14,718,858 EOL Deals From: 11/13/2001 To: 11/13/2001 EnPower From: 11/13/2001 To: 11/13/2001 Desk Total Deals Total MWH Desk Total Deals Total MWH EPMI Long Term California 50 792,400 EPMI Long Term California 3 42,800 EPMI Long Term Northwest 24 474,600 EPMI Long Term Northwest 8 447,831 EPMI Long Term Southwest 41 1,090,821 EPMI Long Term Southwest 4 65,930 EPMI Short Term California 104 112,328 EPMI Short Term California 33 38,576 EPMI Short Term Northwest 76 72,400 EPMI Short Term Northwest 26 28,952 EPMI Short Term Southwest 112 148,200 EPMI Short Term Southwest 40 133,428 Real Time 77 1,925 Real Time 28 2,250 Grand Total 484 2,692,674 Grand Total 142 759,767 EOL Deals From: 11/13/2001 To: 11/13/2001 EOL Deals From: 11/13/2001 To: 11/13/2001 Long Term West Management Total Deals Total MWH Short Term West BOM Total Deals Total MWH Daily 0 0 Daily 0 0 Month-to-Date EOL 9 2,200 Month-to-Date EOL 0 0 Enpower daily deals 0 0 Enpower daily deals 0 0 Month-to-Date Enpower 2 2,003 Enpower daily deals 0 0 EOL Deals From: 11/13/2001 To: 11/13/2001 EPMI California Services Total Deals Total MWH Daily 0 0 Month-to-Date 0 0 Enpower daily deals 0 0 ICE Volumes From: 11/13/2001 To: 11/13/2001 Delivery Point Total MWH EPMI MWH Price Cob (OP, Next Day) 400 0 $ 18.50 Cob (P, Next Day) 800 0 $ 24.00 Mid C (P, Next Day) 6,000 400 $ 23.67 Mid C (OP, Next Day) 600 0 $ 17.67 Mid C (OP, Bal Month) 13,200 8,800 $ 19.38 Mid C (P, Bal Month) 15,600 0 $ 24.42 Mid C (P, Dec-01) 110,000 0 $ 33.53 Mid C (P, Jan-02) 31,200 0 $ 34.27 Mid C (P, Mar-02) 41,600 0 $ 32.90 Mid C (P, Apr-02) 31,200 0 $ 28.80 Mid C (P, May-02) 10,400 0 $ 25.80 Mid C (P, Jun-02) 10,000 0 $ 28.00 Mid C (P, Jul-02) 20,800 0 $ 42.70 Mid C (P, Aug-02) 10,800 0 $ 50.40 Mid C (P, Q1 02) 30,400 0 $ 33.20 Mid C (P, Q2 02) 92,400 0 $ 27.37 NP-15 (P, Next Day) 4,000 400 $ 26.60 NP-15 (OP, Next Day) 2,800 600 $ 20.38 NP-15 (P, Bal Month) 15,600 0 $ 26.83 NP-15 (OP, Bal Month) 4,400 0 $ 21.00 NP-15 (OP, Dec-01) 8,600 0 $ 27.20 NP-15 (P, Dec-01) 60,000 0 $ 33.73 NP-15 (P, Jan-02) 20,800 0 $ 33.68 NP-15 (P, Mar-02) 10,400 0 $ 32.50 Palo (P, Custom) 10,000 0 $ 24.10 Palo (P, Next Day) 11,600 0 $ 22.22 Palo (OP, Next Day) 1,800 0 $ 12.42 Palo (P, Bal Month) 83,200 5,200 $ 23.02 Palo (OP, Dec-01) 25,800 0 $ 19.25 Palo (P, Dec-01) 90,000 10,000 $ 28.07 Palo (P, Jan-02) 10,400 0 $ 30.20 Palo (P, Feb-02) 19,200 0 $ 29.63 Palo (P, Apr-02) 10,400 0 $ 31.20 Palo (P, Jul-02) 10,400 0 $ 55.50 Palo (P, Aug-02) 10,800 0 $ 61.30 Palo (P, Sep-02) 38,400 0 $ 47.49 Palo (P, Q1 02) 60,800 0 $ 30.05 Palo (P, Q3 02) 30,800 0 $ 55.00 Palo (P, Q4 02) 30,800 0 $ 36.80 SP-15 (HE 1200) 25 0 $ 26.50 SP-15 (HE 1300) 25 0 $ 25.25 SP-15 (HE 1400) 25 0 $ 25.25 SP-15 (HE 1500) 25 0 $ 25.25 SP-15 (HE 1600) 25 0 $ 25.25 SP-15 (OP, Next Day) 2,200 0 $ 18.27 SP-15 (P, Next Day) 6,800 400 $ 25.93 SP-15 (P, Bal Month) 36,400 0 $ 26.20 SP-15 (P, Dec-01) 20,000 0 $ 32.75 SP-15 (P, Jan-02) 20,800 10,400 $ 32.75 SP-15 (P, Q1 02) 60,800 0 $ 32.58 Grand Total 1,143,525 36,200 $ 1,488.76
******************[ A D V E R T I S E M E N T ]************ Stay on top of the market with Prudential Securities and Dow Jones. Click on the url below to learn how you can receive a 1-year subscription to The Wall Street Journal or BARRON'S, FREE! http://www.money.com/prudentialsecurities *************************************************************** SIVY ON STOCKS from money.com December 11, 2000 Bad news bulls The news may be rotten for semiconductor stocks, but investors are betting on a rebound for leaders like Intel. By Michael Sivy Over the past few months, I've been warning readers that the technology sector remains in a broad downtrend that could last well into next year. Nonetheless, when tech stocks have been beaten down badly enough, shares of the strongest companies can rebound even in the face of continuing bad news, provided their long-term prospects are good enough. Exactly that sort of bad-news rebound has occurred for Applied Materials, the leading maker of semiconductor manufacturing equipment. Last week I wrote that the battered stock would remain volatile and could face a further decline of 10 percent to 15 percent. But I concluded that the shares were so cheap at $38.50 that the upside was 10 times as great as the downside. That proved true a lot faster than I expected. In the five trading days since that column ran, the stock has jumped 32 percent to nearly $51 a share. Admittedly, my good timing was largely luck, but the power of Applied Materials' comeback is a signal that other leading semiconductor stocks also may have fallen too far. As a rule, if you're considering stocks in the midst of bad news, it's smartest to stick with industry giants that have bullet-proof balance sheets. You can be confident that they'll ride out whatever bad conditions lie ahead, and they may even benefit as smaller competitors are forced to give up market share. On that basis, I'd certainly be inclined to look at Intel. Though it's the world's leading chipmaker, with $34 billion in annual sales, Intel has spent the year fouling up. Among the more spectacular errors, the company ran short of capacity because it underestimated demand last year and cut back capital spending. In addition, glitches were discovered last summer in Intel's turbocharged Pentium III, and many of the chips had to be recalled. Frankly, none of those failures will have much long-term impact. Intel remains the industry's 800-pound gorilla and long-term earnings growth is projected at more than 20 percent a year. Most analysts see continuing weakness in the chip market for the next six months, but see the cycle swinging up by late next year. In September, Intel warned that third-quarter earnings would be lousy, and the stock fell by $13 to $48 a share. At the time, I wrote that the stock was down to buyable levels but that it wouldn't rebound right away. Over the next three months, Intel sank to less than $32 amid a general selloff in technology. But after announcing on Friday that fourth-quarter results would be disappointing because of soft personal-computer sales, Intel rallied. On Monday, investors followed through by bidding the stock up another $3.50 to $37.50. Investors are clearly betting that the worst is over. And with the stock only about 20 percent above its lows (and 50 percent off its highs), I think it makes sense to get on board. After revising their 2001 estimates downward, analysts expect Intel to earn about $1.50 a share next year. At the current share price, that's a 25 P/E -- cheap for a 20 percent core growth rate. If Intel is missing from your portfolio, this may well be your best opportunity for years to come. ============================= UPCOMING CHAT: Monday, December 11 at 8pm ET, 5pm PT Money.com presents Third Avenue Value fund manager Martin Whitman. 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> ---------- > From: Sharon Lay > Sent: Wednesday, November 17, 1999 9:21 PM > Subject: Punch list for "The Millennium Cruise" > > Well, it looks like we are on the final stretch now, and we can review > some of the earlier discussions to make sure everything is in order. Sheri > is going to meet with Roger next week to cover all of the items listed > below. Please give us feedback on any other concerns: > 1. The main dining room open 6:30pm-9:30pm............................. > Confirmed > 2. Tea Served > 3:00pm-5:00pm.....................................................Confirme > d > 3. Childs menu in the Gorilla Grill [Don Vito's Trattoria] from > 11:30am-2:30pm and > 3:00pm-5:00pm............................................................. > ........Confirmed > 4. The Butterfly Room will have highchairs ..............Waiting on final > number of highchairs needed > 5. The Butterfly Room will have a > microwave.................................Confirmed > 6. We have provided non spill children's cups ............... > ..............Confirmed > 7. Radisson will provide 150 USA TODAY, 50 WallStreet Journal, > 5. New York Times, and deliver the 150 USA today to the rooms, and place > the Wall Street Journal and New York Times in the public areas, without a > charge.................................................................... > ....................Confirmed > 6. There will be a faxed copy of daily of the New York Times....... > Confirmed > 7. There is a business center available 24 hours a day with a computer, > fax and copy > machine................................................................... > . Confirmed > 8. The telephone requires a credit card to make a long distance call, so > it is not necessary to restrict the children's > rooms................................ Confirmed > 9. There will not be a golf pro on board, however we can still use the > putting green and driving cage. The boat has drivers and putters that may > be checked out for use on the > boat.................................................. Confirmed > 10. The boat has 200 snorkels available to be checked out for the entire > cruise > and 2 jet skis for use when the marina is down > ............................. Confirmed > 11. Spa reservations can be made after boarding the ship and children > under twelve years cannot use the healthclub without adult supervision > .....Confirmed > 12. The swimming pool will be closed to children after > 5:00pm..........Confirmed > 13. The aft deck will be fully stocked and open only during the > day...Confirmed > 14. There will be a daily bulletin delivered to each cabin every evening > with the > children and adult activities that are planned for the next day.......... > Confirmed > 15. There will be a travel desk open every day for questions........... > Confirmed > 16. Loraine, the cruise director, will be available every day for question > regarding the shore > excursion.......................................................Confirmed > 17. There will be a daily board listing all activities and times > ............Confirmed > 18. There will be nightly entertainment in the main dining > room.........Confirmed > 19. There will be nightly children's entertainment in the Constellation > room > i.e. games, > movies.................................................................... > ...Confirmed > 20. The casino will be open when the boat is under way and children under > the age of 21 will not be allowed in the > casino......................................Confirmed > 21. The night of Dec. 29th will be the family night with the BBQ up top > and a country and western entertainer.{Loraine's > fianc,e}........................Confirmed > 22. The boat will be netted for child safety on Dec. 27th and John Duncan > will approve the > project................................................................... > ... Confirmed > 23. There are 30 children's life vest on board the ship and children over > ten years of age will wear adult life vest. The ship has all of the ages > of the children so they can be certain the vest will > fit.................................Confirmed > 24. The Constellation room will be transformed into a children's room with > games, toys and movies. A staff member will be available for hire to > assist the nannies and parents if > needed......................................................Confirmed > 25. Daily activities will be planned for the > children...........................Confirmed > 26.Radisson has provided KJM with written confirmation of Y2K > readiness................................................................. > ....................Uncertain > 27. Radisson will provide name and credentials of the > Doctor...........Waiting c > 28. Radisson will provide baby beds for children under 3 > years.......Confirmed > 29. Radisson will convert queen beds into twins in rooms ending with 6,7,8 > or 9 when requested 30 days > out.....................................................Confirmed > 30. Radisson has two tenders that each hold 120 people for transporting > passengers from the boat to the shore > excursions...........................Confirmed > 31. KJM will provide Radisson with names of passengers having any special > occasions i.e. birthday, > anniversary..........................................Next mail out > 32. Magnetic door plates will be on each door with passenger > name.Confirmed > > I will be leaving for South America tomorrow and return on the 29th. > Please give any additions to my trusted assistant , Janelle, so she can > make sure Sheri has all the information for her meeting next week with > Roger. > > Hasta Luego mi amigos, > Tu amiga Sharon > > >
Answers to your quetions: Yes; no; maybe Just kidding.... Interconnects for Calp and Dayton handled the same...just add those meters to the sell tkts to CES and the buys are the delivery points. Don't path the actual contract in Unify...When we hold that capacity and EDI, we'll path in Unify.... We don't get the bills from TCO in January for that contract. Get em in February (when we hold the capacity). They are set up in Unify but we won't actually use....We are providing that service for those guys. Try your best for trueing up the transport tkts and the CALP and Dayton tkts in Sitara. Impact is on P and L for the desk daily and later on for the (O/A) operational analysis where the accountants compare what we estimated our costs and revenues for the desk were and what they actually came in at.......We know January will be messy... Go ahead and true up the PAL agreement to match physical flow...... BUY/SELLS with ENA and CES. We talked at the beginning of the month about this. Sales/buys to/from ENA on the CES reports and sales/buys to/from CES on the ENA facilitation by location reports should just be pahted as buy/sells. (hopefully should be done already......) I have a meeting from 3-4 today...other than that I'll be downstairs with y'all to answer any questions.... THANKS!!!! To: Victor Lamadrid/HOU/ECT@ECT cc: Joann Collins/Corp/Enron@ENRON@ECT, Robert Allwein/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT Subject: Re: Dayton Stuff & Calp & other fun stuff You were a busy little bee last night!!!! Thanks for the help. FSS 63304 - we are not using. I'll ask John Hodge what this storage had been used for in the past. Clarification needed for the Dayton and Calp sell at the pool. How is the interconnect gas supply done... we had some on Calp with Virginia Power and Coral. In the past we have some on Dayton... don't think we have any in January yet. Does this through another monkey wrench into the works? We will probably have to run some report out of navigator to true-up transport tickets. There are a ton of cuts lately and Joann receives daily request from CES retail for volume changes. Not sure the best, efficient way to maintain these tickets daily. PAL for CES was physically flowed on January 1. Should we change the tickets to match physical flow??? I'm bummed about the storage ticket change again... but will redo the paths. This will be a couple hours of rework for me... not sure about Joann. You have lost me on the ENA to CES and CES to ENA buy sell tickets. Can't think of any examples yet. Hope this doesn't cause repathing. Victor Lamadrid@ECT 01/18/2000 09:38 PM To: Joann Collins/Corp/Enron@ENRON, Joan Veselack/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT cc: Katherine L Kelly/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT Subject: Dayton Stuff & Calp & other fun stuff Hello my favorite TCO people: Here's what we here at team TCO have done so far....Let's recap shall we.......... Dayton and Calp get the invoices from the p/l and we re-imburse them for the transport differenentials so...... Dayton capacity buy at the citygate = Sitara #151878 - path as buy/sell with your markets. Dayton capacity sell at the pool = Sitara #151877 - path as buy sell from pool. These 2 tkts should be released by Stephanie tomorrow morning. True these up as best you can daily. Also: Calp capacity buy at the citygate = Sitara #149776 - path as buy/sell wth your markets. Calp capacity sell at the pool = Sitara #149775 - path as buy/sell at pool. These 2 tkts should be released by Stephanie tomorrow morning. True these up as best you can daily. Our transport tkts from pool to city gate for all other transport still remains Sitara# 95448 and Sitara# 95449. Please true up as best you can. NEXT: Do ya'll have 2 FSS Storages Contracts # 51407 and 63304? Deal # 151879 covers storage K# 63304 and deal # 151880 covers storage K# 51407. The Sitara gods have to approve, bounce the server and then it will appear in Unify for you to path.... Deal # 149778 is the storage w/d ticket for both K# 63304 and K#51407. Deal # 151882 is the storage injection ticket for the same. The counterparty had to be changed back to CPR storage. You guys have to unpath and re-path that piece showing the purchase from CES for the storage w/d. Really SORRY about this!!! Counterparty could not be CES --- We can't path on stg. contract and out of inventory and buy from CES at the same time w/o the point not being balanced. Park and Lend contract #64031 and # 64041 are being set up by Chris in Sitara but we have to get the Sitara gods to set up PAL contracts as ENA agency deals for CES so he can't put the deals in the system just yet. They should be available tomorrow hopefully!!!! They are for 250,000 on the first and the 300,000 on the second of January. Path them accordingly depending on where that PAL gas went. In addition all deals that are ENA to CES or CES to ENA should be pathed as buy/sells. I think that is it for now. Let me know if anything else stops you from pathing, running tracking and balancing and finally from bridging back the first to Sitara. Let's set a GOAL to have the first totally pathed and tracked and balanced and bridged back and clean by close of business the 19th. YEAH BABY!!!! By the way, we really appreciate the monumental effort you three have made in meeting all logistical requirements of the old and new TCO business and keeping track of the volumes in Sitara, Unify and Navigator...We're are zeroing in on end of month balance tie outs between Navigator and Sitara for the 4 CES pools and the 2 ENA pools. We've kept a bunch of balls in the air for the last 4 weeks and to my knowledge haven't dropped one darn ball yet. Thanks.........
Contact Steve Walton Eric Hirst <[email protected]> 11/10/2000 10:03 AM To: [email protected] (Steve Kean) cc: Subject: Outline for Project on Real-Time Markets Dear Steve, Once again, I call on you for advice. Who, within Enron, should I talk with about a new project I am working on, related to real-time balancing operations and markets (all the messy stuff that causes so many problems within all the existing ISOs)? Here is the outline for the project. Can you send me your suggestions on revising the outline, other people at Enron (and elsewhere) to contact related to these markets, and written materials on how the various ISO markets operate. Thanks. Eric ---------------- ISSUES TO DISCUSS FOR PROJECT ON: REAL-TIME BALANCING OPERATIONS AND MARKETS November 6, 2000 1. Introduction: Importance of real-time operations and markets Essential for reliability, especially security Basis for all forward contracts (hour- and day-ahead, block monthlies, bilaterals) Real-time prices motivate generation-capacity decisions: new construction, repowering, retirements Ensure equitable treatment for &new8 intermittent and distributed resources 2. Physical Requirements and Operations Balance generation to load in near-real time (intrahour) Normal conditions (frequency response, CPS1, CPS2) Contingency conditions (DCS) In neither case is it necessary for generation to exactly balance load over short time periods (e.g., 10 minutes), but must balance energy over longer intervals Benefits of aggregation Performance and characteristics of individual generation and load resources: random fluctuations, energy level, ramp rate, acceleration rate, startup time, minimum run time, block loading, energy-limited characteristics of hydro units, etc Control-area balance vs individual-schedule balance, good vs bad inadvertent interchange NERC and FERC requirements 3. Operations with Vertically Integrated Utilities Unit commitment Economic dispatch Regulation Contingency reserves Control area forecasts of loads and resources, effects of forecasts on unit commitment and dispatch Treatment of (payments and penalties for) energy imbalance and inadvertent interchange 4. RTO Operations and Markets Generation not owned by RTO, RTO must purchase outputs from generation and load resources Relationship between real-time operations and markets, how are resources dispatched (and by whom) and how are they compensated Time interval (1, 5, 10, or 15 minutes) for dispatch and price setting; what are the tradeoffs in choosing among these intervals Single market-clearing price in each interval vs pay-as-bid for each resource Pay for energy only or pay also for maneuverability (e.g., ramp and acceleration rates); how do resource constraints determine which resources are permitted to set the market-clearing price and which aren't, and why? Set prices ex ante or ex post? If prices set ex ante, what is the basis for the value? Should unit commitment (resource scheduling) be done by individual suppliers, by RTO, or both? Relationship between real-time markets and ICAP and RMR requirements, and RTO requirements to ICAP and RMR units to bid resources into real-time market Treatment of exports and imports, rules governing interchange scheduling (number of schedule changes per hour permitted, ramp rates for schedule changes) To what extent does the RTO make short-term forecasts of load and generation, how far into the future (10 minutes to 24 hours), how does the RTO use these forecasts? Should the RTO commit and dispatch resources on the basis of expected future conditions (i.e., beyond the current and next interval)? Who pays for these RTO decisions? Should RTO publish prices and let demand and supply respond to the price signal, or should RTO dispatch resources up and down based on supplier bids? If the RTO explicitly dispatches resources, should uninstructed deviations be treated differently, in terms of payment or penalties, from instructed deviations? What about a resource,s failure to follow instructions? Under what circumstances should RTO go &out-of-market8 for resources? What should set the price of (payment to) these resources? Under what conditions, if any, are penalties appropriate, for what kinds of behavior, what determines the magnitude of the penalty? Should penalties apply to generation only or to loads also? How, if at all, should capacity assigned to ancillary services (especially the reserve services) be incorporated into real-time operations and markets? For example, should the capacity assigned to contingency reserves be set aside and used only when a major outage occurs? Or should such reserves be used routinely whenever it is economic to do so, as long as sufficient capacity is available to meet the NERC reserve requirements? How should intermittent resources (e.g., wind) be treated in real-time operations and markets? Should they be treated any differently from a large, volatile load? Can retail loads participate in real-time markets? How? 5. Case Studies of U.S. ISOs California PJM, New York, and New England ERCOT 6. Conclusions and Recommendations Key features of operations and markets What works What are the options What problems still remain ---------------------------------------------- Eric Hirst Consulting in Electric-Industry Restructuring 106 Capital Circle Oak Ridge, TN 37830 865-482-5470 (phone & fax) [email protected] http://www.EHirst.com/
Mark/Greg, Please find attached a post-mortem of our weekend problems... Summary is last paragraph in red. Regards -----Original Message----- From: Terech, Henry Sent: Sunday, June 10, 2001 11:23 PM To: Bibi, Philippe A.; Donovan, Bill Cc: Kean, Steven Subject: Enron Center North/Enron Center South Damage & Restoration Overview Bill/Philippe- Below is a summary of the major problems which occurred the past 96 hours and the steps taken to mitigate the damage and risk. Enron Center North (1400 Smith) As a result of the flooding downtown, approximately six skyscrapers had their electrical vaults flooded and began to cause cascading problemd in the electrical grid downtown. The net result was the loss of one of the two 35kv circuits which serve 1400 Smith. We (engineers, EES Maint, electrical subs) believe at the time the circuits blew we shifted from three phase to single phase power, which caused an imbalance in the load to the building. Consequently, UPS "C" which serves a portion of the Lv 34 Data Ctr, the Rolm phone switch, and a protion of the Traders floors lost a circuitboard, and blew two internal fuses. This power degradation caused PDU "S" on Lv 34 to trip its main breaker and shutdown power load to servers and equipment on this PDU. This occurred shortly after Noon on Saturday. Response/Restoration > UPS "D" transferred load from UPS "C" as the N+1 back up and carried the full load of the UPS loss as designed > EPSC/electrical sub (Henderson Electric); EES Maint; IT worked together to power down systems to begin repair work by 4:00pm Saturday > EPSC/EES Maint coordinated with Pillar/Henderson Elec to obtain replacement parts and begin the repairs. By 9:30pm all repairs to UPS"C" had been made and the system bought back on line. As a measure of extra protection the back up genset for Enron Ctr North was in operation > Reliant Energy restored the circuit at approximately 10:30pm Saturday evening > EPSC/EES Maint and subs conducted a thorough review of all electrical and back up systems Saturday evening > Enron Network IT Operations began restoration of all affected systems Saturday evening > EPSC/EES Maint obtained diesel fuel and topped off all gensets Saturday in case of additional problems and due to fuel consumption during the outage Other Building damage was limited to flooding in the tunnels, and water damage/flooding to portions of the Body Shop on Lv B-1 Enron Center South (1500 Louisiana) Impact/Damage Summary > Levels 8 & 9 received very limited amounts of water from the core area elevator shafts and exterior curtainwall. There was no exposure to water on any systems or network cabling during the entire period. (Response) Crews contained and cleaned all water as it traced into the building. > ALL IDF closets on Lvs 3-5 Traders Floors remained dry throughout the duration of the rains/flooding on Friday & Saturday > Lv 6 received some water from Lv 7. (Response) The area was contained and cleaned. No additional damage beyond Tuesday evenings flooding occurred > Due to extreme street flooding and water pressure, a 10" sanitary sewer line tied into ECS burst on Friday evening causing extensive flooding of Lv B-1 area (approximately 4-6 inches of water in the basement. (Response) Clark & Way Engr was able to install a temporary plug in the line to stop the on going flood waters from penetrating the basement. Clean up has continued throughout the weekend > Due to the extreme flooding and water pressure, the water seal of the Reliant Vault burst early Saturday and flooded the electrical vault room with 24-30" of water. This resulted in a complete loss of power at approximately 1:30pm on Staurday afternoon. The back up systems engaged and operated per design to support the Data Ctr and Traders Floors. The temporary cooling tower went off line. Prior to the flooding Clark had been in the process of tieing in the temporary feed into the back up system by 7-1-01 in prep for the migration (Response) * Clark used back up water pumps to pump out and clean the Reliant electrical vault, as well as maintained operation of the back up systems * The Data Ctr AHU's were kept on line with the dehumidifiers/blowers to modulate the airflow in the Data Ctr. EPSC had Way Engr techs use temp/humidity probes to monitor the areas. The recordings indicated temps on Lvs 8 & 9 did not exceed 78 degrees and relative humidity did not exceed 68% during the outage * Clark/Fisk Elec/EPSC coordinated desing efforts and obtained gear on an emergency basis and completed the tie in off the temporary coolong tower to the generators by 10:30pm * Reliant Energy is still cleaning and replacing gear in th vault room. Presntly (AT 11:00PM Sunday) we have one circuit operational in the building and 50% of the Reliant gear on line). We are still operating all systems safely on the back up sytems for the past 36 hours. It is expected Relaint will be complete by 7:00am. Clark; the engineers and MEP subs shall be conducting a thorough system review and repirs as required of all systems throughout the building during the coming week. In summary, the back up systems in both facilities did engage and operate as designed; however, due to the extreme conditons and stress placed upon the systems the facility held up extremely well. I would also like to note throughout the ordeal beginning Friday evening through Sunday, everyone (Enron NetWorks;EES FacilitiesClark Const;Way Engring;Fisk Electric;Henderson Electric; KW-Pillar;Hines) did an outstanding job under enourmous pressure and the most severe conditions I have seen in downtown Houston. Communication, around the clock work and cool heads managed to assess damage and develop action/restoration plans to facilitate repairs for Monday business Let me know if you need further details on specific issues or items. regards- Henry
---------------------- Forwarded by Susan M Scott/HOU/ECT on 02/24/2000 07:54 AM --------------------------- Enron Capital & Trade Resources Corp. From: "C. Scott" <[email protected]> 02/24/2000 06:15 AM Please respond to "C. Scott" <[email protected]> To: "Wilbur & Betty Williams" <[email protected]>, "Travis Kelley" <[email protected]>, "Susan Margaret Scott" <[email protected]>, "Pat and Paige Lentz" <[email protected]>, "Mike Oldham" <[email protected]>, "Kana, Kristi M." <[email protected]>, "Charlee Marshall Williamson" <[email protected]> cc: Subject: Fw: You Know You're In Austin, TX When... -----Original Message----- From: Whitley, Stacie <[email protected]> To: '[email protected]' <[email protected]> Date: Wednesday, February 23, 2000 9:37 AM Subject: FW: You Know You're In Austin, TX When... >Know you can relate to this one! > >> -----Original Message----- >> From: Kevin P. Kellar [SMTP:[email protected]] >> Sent: Tuesday, February 01, 2000 10:25 AM >> To: [email protected]; Mark & Stacie Whitley; Agnes Whitley >> Subject: FW: You Know You're In Austin, TX When... >> >> >> YOU KNOW YOU'RE IN AUSTIN WHEN... >> >> Your co-worker tells you they have 8 body piercings, but none are visible. >> >> You make over $100,000 and still can't afford a house. >> >> You never bother looking at the Captial Metro schedule because you know >> the >> drivers have never seen it. >> >> You've been to more than one baby shower that has two mothers and a sperm >> donor. >> >> You have a very strong opinion where your coffee beans are grown and can >> taste the difference between Samatran and Ethiopian. >> >> A really great parking space can bring you to tears. >> >> You know that anyone wearing pants in November is just visiting from Ohio. >> >> Your child's 3rd grade teacher has two pierced ears, a nose ring and is >> named "Breeze." And, after telling that to a friend, they still need to >> ask if the teacher is male or female. >> >> You are thinking of taking an adult education class but you can't decide >> between Yoga, Aromatherapy, Conversational Mandarin or one on building >> your >> own website. >> >> You haven't been to Hippie Hollow since the first month you moved to >> Austin. >> >> A man walks on The Drag in full leather regalia and crotchless chaps..... >> You don't notice. >> >> A woman walks on The Drag with live poultry.....You don't notice. >> >> You think any guy with a George Clooney haircut must be visiting from the >> Midwest. >> >> You know that any woman with a George Clooney haircut is not a tourist. >> >> You keep a list of compaies to boycott. >> >> Your hairdresser is straight, your plumber is gay, the man who delivers >> your mail is straight, and your Mary Kay Lady is a guy in drag. >> >> You occasionally see a guy on a unicycle whiz buy you while you're in your >> car and you say to yourself, "Oh yeah, it's that guy again...." >> >> You start to worry when you don't see the cross-dressing, bearded guy >> in-a-tutu-and-bikini-top-who-has-made-a-statement-with-his-grocery-cart- >> and-cardboard-box-art/shelter on your way to work in the morning. >> >> You'll make dinner or bar plans around who's got the best margaritas. >> >> You have a tough time deciding on one of Austin's six 24-hour eating >> options (IHOP, Denny's, Katz', Kerby, Stars, or Magnolia Cafe) >> >> You complain about their prices but still shop at Central Market for the >> scene. >> >> You don't even think about getting good seats to the Longhorn's football >> games. >> >> You know the exact locations of three towing yards. >> >> Your summer shoes are your Birks and your winter shoes are your Birks with >> socks. >> >> Your entire wardrobe consists of: a black tank-top, a GAP white T-shirt, >> second hand Levi's, second hand cut-off Levi's, overalls, Longhorn sweats, >> anything polyester from the 70s, a bikini, Tevas, Birks, and running >> shoes. >> >> Dressing up to go out for a woman means throwing a tank top on over the >> sports bra you've had on all day because it's so DAMN HOT! >> >> You often find yourself wondering why magazine editors insist that >> swimsuit season starts on Memorial Day when it's really the end of >> February or at the latest, the beginning of March. >> >> You consider chips, salsa, Kerby Queso, and Shiner Bock Beer a >> well-balanced meal. >> >> You find yourself making beaded necklaces to give as Christmas gifts. >> >> 100 degrees for three straight months isn't unreasonalble, 110 degrees is. >> (And 90 degrees anywhere between May and September seems a bit chilly) >> >> You figure skin cancer is inevitable beacuse it is so hot that even your >> sunscreen won't stay on. >> >> When you go out, you make sure you've grabbed you waterbottle before >> checking to see if you've got your wallet and keys. >> >> You don't mind parking a mile away as long as it's in the shade. >> >> You spend so much time at MoJo's Coffee House you finally start bringing >> in >> your own CD's for the staff to play. >> >> Your professor decides in the middle of the Government lecture that now's >> as good of time as ever to tell his class of 500 he's gay. Like you >> didn't >> know. Like you even care. >> >> (Gals) You ask yourself constantly if that's a cute guy or a butch girl. >> >> And you don't really care either way because it's fun to wonder. >> >> You'd rather ride your bike than get in a car without air conditioning. >> At least on your bike, you're guaranteed a breeze regardless of traffic. >> >> You see more Texas flags flying than American flags. >> >> >> >> >> >> >> > >
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Over to you. -----Original Message----- From: Arvind Ramanathan <[email protected]>@ENRON [mailto:IMCEANOTES-Arvind+20Ramanathan+20+3CArvind+2ERamanathan+40techspan+2Ecom+3E+40ENRON@ENRON.com] Sent: Monday, June 04, 2001 8:58 PM To: Zipper, Andy Subject: Value Proposition for Enron from TechSpan Hi Andy Hope you have had a chance to review our earlier details and hopefully it would have given you further insights into our capabilities. During the recent Board meeting with Goldman Sachs, our Enron strategy was discussed and we indicated our correspondance with you. All of us are very exited and working on ways of initiating the process. Moreover, due to the strategic nature of partnership, our Management has also decided to invest in developing this association. I would discuss the proposition (from our Senior Management) during a telecon and you could assess the feasibility. Meanwhile, some areas that we are currently working with Goldman Sachs, Nortel, Chevron, HP, etc are indicated below and we could replicate the same with Enron: 1. Module Development or enhancements to existing applications - Portal - Adaptor/Connector Development - Integrating online trading apps with Back End systems - Ariba customization/enhancements - Content Management - e-Procurement & EBPP - other application specific integration 2. Maintenance & enhancements (Could be done in India for cost saving and round the clock operations) 3. Re-engineering, Migration and porting for your existing applications 4. QA Andy, we are confident that this proposition of ours would be very attractive and would go a long way in developing a strong association. Could we discuss our business proposition this week ? I could call your admin assistant tommorow (6/5) and fix up a suitable time for the call (10 - 15 Minutes Max.) We could follow this up with a technical meeting to identify specific areas, should you feel comfortable with our proposition. Looking forward to our discussions. Thks, Arvind Tel : 408. 530.5570 Cell : 408. 828.6391 www.techspan.com -----Original Message----- From: Arvind Ramanathan Sent: Thursday, May 24, 2001 12:08 PM To: '[email protected]' Subject: RE: Partnership: Enron & TechSpan (Goldman Sachs Funded Company) Dear Andy Thanks for your Mail. I sincerely hope you were able to get a high level overview of our company. Further to my earlier mail, i am enclosing the information which could provide further insight into our company. Pls include them in your assessment process and give me a feedback if you require any further clarification. We look forward to meeting you and your team for an presentation and the value we could bring to Enron. In the presentation, we would cover our Methodology, Processes, Competencies, Clients , Case Study & our economical/cost effective deployment processes. Some synergies i perceive; Enron's initiative in ClickPaper could map well based on our experience in Forest Express , EnronOnline could map into our experience with RMX/Chevron or American Petroleum Exchange, Dealbench.com maps well with our experience with eBreviate on the hosted ASP model for eRFP,Auctions,Supplier Search. Moreoever, our development labs in India could add great value for your module development, ongoing support, maintenance, QA, Porting work; deploying a very low cost structure. 1. TechSpan Details: I have enclosed the following - 1.1 Company Overview (Management, Revenues, Growth, Locations, Services, Competencies, etc) 1.2 TechSpan B2B Markets Expertise Brochure 1.3 Case Study - e2Open , Traiana 1.4 Projects with Ariba & MOAI 2. Other Details which could be of interest 2.1 TechSpan has been featured on IDC's analysis (Report No. 23918) " IDC believes that TechSpan has done a good job of melding its evolution as a services business to that of its partnerhips" 2.2. BEA's Partner brochure on its competency (attachment), wherein TechSpan has been evaluated at par with KPMG & CSC. All our clients have also realized the value in TechSpan and all have positioned us equivalent (and higher in many cases)to any Big 5 Consulting firm. 2.3. INDIAN E-BIZ CONSULTING MARKET WORTH $136 M.: V&D TechSpan tops the Big Six list of e-biz consultants in India with total business worth $67 million, followed by Planetasia and MindTree. The study has identified pricing as the one big advantage enjoyed by Indian pure play Internet Professional Services companies. http://ciol.com/content/news/repts/101020511.asp?nl=ctd-mar5 2.4 Inc. Magazine and Cisco Systems Name TechSpan, Inc., Finalist at Growing with Technology Awards Ceremony http://www.techspan.com/news/prcisco.html 2.5. TechSpan Ranked on Sm@rtReseller's Smart 100 Companies List http://www.techspan.com/news/prsmartreseller.html In summary, we are a young company (two years in operations) with high ambitions and clearly articulated vision of being a leader in the e-commerce consulting space. We have achieved major milestones in being a $ 67.0 Million company within 2 years, largely due to the confidence exhibited by our customers and partners. Though the above are some achievements in the past (giving you a base comfort factor on our long term stability), we are keen in discussing what value we could bring to Enron, now and in the future. Thks, Arvind Arvind Ramanathan Business Development Manager TechSpan Inc. Tel : 408. 530.5570 Cell : 408. 828.6391 www.techspan.com
Utilities' Demand Blocks Bailout NEGOTIATIONS HIT SNAG: PG&E, Edison want end to price freeze if they sell transmission lines to state David Lazarus, Chronicle Staff Writer Wednesday, March 21, 2001 ,2001 San Francisco Chronicle URL: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M N114450.DTL California's near-bankrupt utilities are demanding that higher electric rates be a part of any deal to sell the state their power lines, The Chronicle has learned. A rate increase -- perhaps of more than 50 percent, according to earlier industry estimates -- would certainly draw a firestorm of protest from consumer groups and force Gov. Gray Davis to backtrack from earlier pledges that rates would remain unchanged. Nevertheless, sources close to negotiations on the deal said Pacific Gas and Electric Co. and Southern California Edison are attempting to make higher rates a condition for agreeing to a bailout scheme in which they would sell the state their transmission systems and some land. The sources said the talks hit a new snag this week when state officials realized that fine print sought by the companies could require the Public Utilities Commission to pass along all of the utilities' costs to ratepayers. The sources said this would end a rate freeze that shields consumers from runaway wholesale electricity prices. The inclusion of potential rate increases in the talks reflects the growing complexity of a deal originally intended by Davis to stabilize the finances of PG&E and Edison so banks would resume loans to the cash-strapped utilities. The negotiations subsequently have expanded to involve a state purchase of the utilities' transmission networks and acquisition of utility-owned land, including spectacular coastal property near PG&E's Diablo Canyon nuclear power plant. Now they also have embraced further deregulation of California's dysfunctional electricity market. "Clearly, one of the terms being discussed is the regulatory environment," said Joseph Fichera, head of Saber Partners, a New York investment bank that is advising Davis in the talks. "The past situation has not worked well," he added. "The utilities want some certainty about their future." TENTATIVE DEAL WITH EDISON To date, the governor has announced a tentative agreement with Edison for the state to buy the utility's power lines for almost $3 billion. Discussions with PG&E for a similar accord have dragged on for weeks. An Edison official, asking that his name be withheld, acknowledged yesterday that an end to the rate freeze is an expected result of the power- line sale. "Once the details of the pact are complete, dominoes will fall," the official said. "One of the dominoes is the rate freeze." A PG&E spokesman declined to comment. In fact, both Edison and PG&E have been aggressively seeking an end to the rate freeze for months. The two utilities have a lawsuit pending in federal court demanding that the PUC immediately raise rates so the utilities can recover almost $13 billion in debt accrued as a result of the freeze. "They have been trying a lot of things to get the rate freeze ended in various forms," said Carl Wood, who sits on the PUC. "Adding it to the present talks is consistent with past behavior." Wall Street has taken note that the negotiations no longer appear to be making progress. Paul Patterson, an energy industry analyst at Credit Suisse First Boston, told clients on Monday that the discussions "may have lost some momentum in recent days." He did not give a reason. For his part, the governor sounded unusually cautious about the course of the talks when asked late last week if a breakthrough was imminent. SECRET STICKING POINTS "We are going to take the transmission systems and the land that's deeded, and we will work out an agreement," Davis said at an appearance in San Jose. "But there are a number of sticking points in the talks with PG&E that I'm not going to reveal." One of those sticking points apparently is an insistence that the sale of utility assets include a long-sought lifting of the rate freeze. Sources said lawyers from both PG&E and Edison had inserted the related terms into draft accords affecting each utility, and that the full impact of the additions was not realized by state officials until this week. One source said the language was just convoluted enough to slip beneath the radar screen of state negotiators. But the upshot, once the words had been parsed, was that the PUC effectively would lose control over power rates. CREDITWORTHINESS ON THE TABLE In Edison's case, the terms of the tentative deal include the governor asking the PUC "to support the creditworthiness" of the utility. "This would ensure that future investments in both utility distribution and utility generation plants are provided fair returns of and on capital, consistent with current authorized returns and capital structure provisions," it says. Sources said the provision could be interpreted as a guarantee from the state that Edison would be permitted to recoup all outstanding costs from ratepayers. "There may be some assumptions about this language that the rate freeze ends if it is adopted," the Edison official said, adding that he saw no reason to disagree with such assumptions. But Fichera, Davis' adviser in the talks, insisted that nothing is set in stone, and that the negotiations are proceeding without a hitch. "This is a very complex transaction," he said. "God and the devil are in the details." E-mail David Lazarus at [email protected]. ,2001 San Francisco Chronicle ? Page?A - 1
fyi...addl Sunday training available on individual basis if you're interested. ---------------------- Forwarded by Jack L. Farley/PG/HouInd on 09/17/2001 06:40 PM --------------------------- "Barry Loder" <[email protected]> on 09/17/2001 01:43:44 PM To: "Barry Loder" <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]> cc: <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]> Subject: West U Soccer's New Skill Development Program Dear Coaches, In an effort to continue the development of the West U Soccer program to become one of the finest in the city, we have introduced some innovative ways to provide the players with greater development while having fun. This year we have already introduced once a week training for all players who participate in the West U Soccer in house programs. From the reaction I have received to date this has been very successful. We plan to continue to make improvement in this program to make it the finest in the city. In pursuit of this goal, West U Soccer is sponsoring in conjunction with Nebo Pro Soccer Academy a skill development program for our players from U-6 through U-19. The goals of this program: ? To provide players in their development years the ability to develop the skills necessary to enjoy the game. ? Have fun while learning ? Play fun games and play against other competition. ? Coach mentoring by association with pro trainers Last week was a trial run of the clinic and I have a child who is a U-6 player. He had a great time and learned a lot about soccer and wants to go next week because he had so much fun. Nebo has done a great job of developing a curriculum for all types of player from the serious to the recreational. He has assembled a staff of trainers who are well recognized. If you have players who may be interested in the training, I strongly recommend that you hand out the attached sign-up sheet at your next practice. Please tell the player who are interested to bring the form on Sunday September 23 at 5:00 to West U Elementary Field for sign-up. Thank you for your consideration on this matter . (See attached file: Nebo OPEN SKILLS DEVELOPMENT PROGRAM.pdf)
Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 05/01/2001 05:27 PM ----- "Chris Micheli" <[email protected]> 04/30/2001 06:19 PM To: "Susan McCabe" <[email protected]>, "Sue Mara" <[email protected]>, "Steven Kelley" <[email protected]>, "Steve Ponder" <[email protected]>, "Stephanie Newell" <[email protected]>, "Scott Sadler" <[email protected]>, "Scott Govenar" <[email protected]>, "Sandi McCubbin" <[email protected]>, "Ron Tom" <[email protected]>, "Roger Pelote" <[email protected]>, "Robert Ross" <[email protected]>, "Rina Venturini" <[email protected]>, "Richard Hyde" <[email protected]>, "Rachel King" <[email protected]>, "Phil Isenberg" <[email protected]>, "Paula Soos" <[email protected]>, "Mike Monagan" <[email protected]>, "Maureen O'Haren" <[email protected]>, "Marie Moretti" <[email protected]>, "Lynn Lednicky" <[email protected]>, "Kent Palmerton" <[email protected]>, "Katie Kaplan" <[email protected]>, "Kassandra Gough" <[email protected]>, "Julee Ball" <[email protected]>, "John Stout" <[email protected]>, "John Larrea" <[email protected]>, "Joe Ronan" <[email protected]>, "Jeff Dasovich" <[email protected]>, "Jean Munoz" <[email protected]>, "Jan Smutny Jones" <[email protected]>, "Jack Pigott" <[email protected]>, "Hedy Govenar" <[email protected]>, "Greg Blue" <[email protected]>, "Fred Pownall" <[email protected]>, "Delaney Hunter" <[email protected]>, "Chuck Cole" <[email protected]>, "Bev Hansen" <[email protected]>, "Anne Kelly" <[email protected]>, "Andy Brown" <[email protected]>, "John Norwood" <[email protected]>, "Pete Conaty" <[email protected]>, "Matt Kilroy" <[email protected]>, "Cary Rudman" <[email protected]>, "Carolyn McIntyre" <[email protected]>, "Barbara LeVake" <[email protected]>, "Pat Pape" <[email protected]>, "Mohammed Alrai" <[email protected]>, "Kent Robertson" <[email protected]>, "Katherine Potter" <[email protected]>, "Juan Rodriguez" <[email protected]>, "Eileen Koch" <[email protected]>, "Bill Highlander" <[email protected]>, "Aymee Ramos" <[email protected]> cc: Subject: SB 1x hearing today As you may know, SB 1x (Soto/Scott) passed the Senate Appropriations Committee by an initial vote of 7-3 (the bare minimum). Senator Soto said that the Legislature must make a "bold proposition" with this bill. She said that this experience is "like no consumer has been gouged before." The Legislature must cap rates. This bill guarantees a generous profit to generators. Senator Scott said that these generator profits have been gained off of consumers. According to FERC, over $500 million in excess profits have been reaped. Californians have been "royally mistreated" by generators. This "money has left the state (to Texas and other places)." This bill is the only solution. The PUC can change the $80 rate. Based upon the January Field Poll, Californians support this concept. We have to "stand up to the generators and say no more." Supporters were: TURN and CTRA (Lenny Goldberg). Lenny said that the FERC will not give any relief to CA ratepayers, so the Legislature has to. This bill needs to be combined with the power authority by Senator Burton to hold prices down. Other supporters of the bill included: Congress of CA Seniors; CalPIRG; CA Consumer Federation; CA Labor Federation; SEIU; Public Power Now. SEIU (public employee union) said that this bill is "the only way to put caps on rates." Opponents were CMTA ("this is the wrong medicine for solving the problem"); WSPA (does nothing to resolve the shortage of energy; we should be doing bills to stimulate greater investment in supply); Intergen said that they are looking at California market, but will not build with this bill out there. CA Wind Energy Assn (QFs oppose this bill because the rate is too low); and IEP (most productive answer to our problem is the build power plants). Senator Battin said that the price cap is lower than some of the Governor's long-term contracts at $86 per hour. Senator Scott said that the munis are, indeed, covered by the bill. He also said that the PUC can change the rates contained in this bill. Scott also said that the PUC can exempt renewables under the bill. Senator Bowen stated that the $80 figure should be removed from the bill ("this price may be inappropriate"). She suggested using the "FERC proxy price." She suggested that they look at an exemption for contracts with the state. She saw no reason to exempt the renewables because they would make a bundle with an $80 cap. Senator Poochigian said he was concerned about the majority vote issue (because this bill is allegedly revenue neutral). Scott said all of the money raised by the bill will go to ratepayers. He said that Legislative Counsel gave him an opinion (I don't know if it is written or verbal) that this scheme was permitted. Poochigian said it was ironic that the PUC was being given the authority to set rates under this bill. Senator Scott stated that they would take as an author's amendment to exclude all long-term contracts from the provisions of this bill. Next stop for the bill is the Senate Floor. Chris Micheli, Esq. Carpenter Snodgrass & Associates 1201 K Street, Suite 710 Sacramento, CA 95814 (916) 447-2251 FAX: (916) 445-5624 EMAIL: [email protected]
Enform expands Sun Micro partnership HOUSTON, Dec. 15 (LocalBusiness.com) -- Enform technology, a high-tech consultant, said it has expanded the company's strategic partnership with Sun Microsystems Inc. Privately held Enform said Palo Alto, Calif.-based Sun Microsystems (Nasdaq: SUNW) is letting the company employ its integrator technology called iForce eIntegrators, for use in creating Web applications and building back-end systems that connect to the site. Sun will help Enform build its service offerings and create custom consulting services, which will be jointly marketed. How much more business this will bring to Enform is not clear, and company officials today were not available to discuss the deal. Enform, which is run by John McNevin, a former partner at Ernst & Young, has grown quickly in its three-year existence. The Houston company helps businesses reinvent themselves by upgrading their systems or finding new technologies they need to remain competitive. Since its inception, Enform has apparently been profitable. It hasn't needed any venture capital to operate. The company has about 200 employees, with branch offices in Dallas and Austin, and expects to post sales of about $21 million this year. Enform recently told LocalBusiness.com that it expected to log about $100 million in sales next year, if the economy holds. Its client list includes Microsoft Corp., Engage Energy and Continental Airlines. ________________________________________________________ o Public MarchFirst Gets $150 Million from Francisco Partners CHICAGO -- MarchFirst, a publicly traded Internet services company, said that Francisco Partners, a private equity firm focused on investments in technology companies, has agreed to invest $150 million in the company in exchange for an eventual 32% equity stake. MarchFirst said it will use the new capital to focus on operations. The company assists business with services such as brand building. David M. Stanton and Neil M. Garfinkel, both of Francisco Partners, will join MarchFirst's board of directors, bringing the total to nine members. http://www.marchfirst.com/ _____________________________________________ o Aether Systems Buys RTS Wireless in $103 Million Deal OWINGS MILLS, Md. -- Aether Systems, a publicly traded provider of wireless data products and services, said it signed a definitive agreement to acquire RTS Wireless, a developer of software systems that connect the Internet to wireless devices. Aether will acquire RTS for a total of approximately $103 million, which includes $26 million in cash and 1.3 million shares stock, trading at $59.25. Aether will gain a team of 120 wireless engineers among RTS's 200 employees. RTS's investors include America Online and individuals. http://www.aethersystems.com / http://www.rtswireless.com/ _____________________________________________________- o E-Numerate Solutions Secures $9 Million in Round One MCLEAN, Va. -- e-Numerate Solutions, which provides technology that allows users to compare and analyze numerical data on the Web, said it has raised $9 million in its first round of funding led by Carlyle Venture Partners, which provided $3 million. Undisclosed individual investors also participated in the round. The company said it will use the funding to continue its expansion. http://www.e-numerate.com/ _____________________________________________ o Digital Broadband Cuts Staff Due To Faltering Funding Talks WALTHAM, Mass. -- Digital Broadband, which provides broadband communications services, said it would lay off "a substantial portion of its workforce." The company attributed the layoffs to "adverse market conditions and its inability to attract sufficient additional financing to fund its business plan." According to CNET'S News.com, the company will lay off 450 of its 526 employees, or 86% of its workforce. The company raised capital from THL, Alta Communications, BancBoston Ventures, and individual investors. http://www.digitalbroadband.com/ _____________________________________________ o E-Business Services Firm Bigstep.com Lays Off 34-Employees SAN FRANCISCO -- Bigstep.com, which provides small businesses with electronic business services, said it has laid-off 34 employees. Bigstep.com now has 110 employees. The company said the staff reduction will allow it to shift with market changes and remain a viable business. Employees received a severance package as compensation, the company said. Bigstep is backed by Worldview Technology Partners, InterWest Partners, Cardservice International, Compaq Computers, Office Depot, U.S. Venture Partners, Mayfield Fund, the Washington Post Company, Angel Investors LP, Partech International, Draper Richards, Argus Capital, Staenberg Private Capital, and undisclosed private investors. http://www.bigstep.com/ _____________________________________________ o Business Firm iReality Group Acquires Consulting Firm Semtor FORT LAUDERDALE, Fla. -- Hong Kong-based iReality Group, a business services firm, said it acquired the U.S. consulting firm Semtor for an undisclosed amount of stock. Semtor chairman and CEO Harold Gubnitsky said that Bloomberg and the Miami Herald listed the transaction at being valued between $70 million and $90 million, but he could not confirm that valuation. iReality Group will absorb Semtor and retain all of its employees. Both companies are backed by individual investors, and the new company may hold a round of mezzanine funding before seeking an IPO next year. http://www.irealitygroup.com/ http://www.semtor.com/ _____________________________________________
HOUSTON ) Enron Broadband Services (EBS), a wholly owned subsidiary of Enron Corp. and a leader in the delivery of high-bandwidth application services, announced today content delivery contracts with Road-Show.Com, an online resource for individual investors, and Q4i.com, a financial services provider offering an online broker resource called BrokerIQ. The two financial services companies will use Enron,s ePoweredv Market Cast and the Enron Intelligent Networkv (EIN) to enhance the quality and speed of content delivery to their investors. Enron,s solution provides TV-quality streaming video with delivery speeds up to 50 times faster than the public Internet. &These agreements reflect the financial services industry,s need for better and faster delivery of online content,8 said Joe Hirko, co-CEO of Enron Broadband Services. &The Enron Intelligent Network allows visionary companies like Road-Show.Com and Q4i.com to serve their customers with video to the desktop that has unparalleled speed, clarity and quality.8 Road-Show.Com is a fully integrated producer of online streaming media. The company,s Xvenuev platform offers clients a turn-key solution for personalized live or on-demand webcast communications. Road-Show.Com broadly streams the presentations that companies typically give on road shows prior to an initial public offering to audiences that include individual and professional investors. &The Enron Intelligent Network and Market Cast technology will allow Road-Show.Com to offer our customers something they have never had access to before ) real-time company presentations and one of the fastest, richest viewing experiences possible. This will enhance their ability to make fully educated investment decisions,8 said Trey Fecteau, president of Road-Show.Com. Q4i.com provides &one-stop8 advanced technology solutions for financial services companies and their clients. With its flagship product, BrokerIQv, professional brokers and their firms have a complete broker management system at their fingertips. Q4i.com will utilize EBS to distribute financial video clips to clients via its BrokerCityv product. In addition, Enron will deliver Q4i.com,s live and on-demand streaming video clips of golf resorts, golf courses, golf real estate, equipment and golf travel for Internet users around the world through GolfTVv, Q4i.com,s online video network. &Our clients now have streaming video features available on their desktops via Enron,s network,8 said J. Frederic Storaska, chairman and co-CEO of Q4i.com. &They not only will enjoy on-demand streaming video of financial and golf information, but they,ll have the opportunity to take advantage of special vacation and equipment offers reserved exclusively for our broker-dealers.8 Enron,s ePowered Market Cast Solution ePowered Market Cast, an application of the Enron Intelligent Network, is an end-to-end streaming media solution for banks, brokerages and other financial services firms. Using ePowered Market Cast, companies can enhance investor relations, conduct virtual road shows and stream analyst presentations from their websites. In addition, ePowered Market Cast is a powerful intranet solution for providing real-time financial news, data feeds, training and presentations to an internal audience. The application streams video at an average bit-rate speed of 200 kilobits per second (kbps). The Enron Intelligent Network is based on distributed server architecture, a pure Internet Protocol (IP) platform and embedded software intelligence that sets it apart from other networks. The EIN,s enhanced performance is due to its ability to deliver streaming media content &one hop8 away from the user at the closest EIN edge server. The result is a TV-quality viewing experience for the user. In contrast, the public Internet,s ability to deliver the broadband content businesses need is often hampered by packet loss, interference and other disruptions that slow down transmission speed and compromise the end user,s experience. About Enron Broadband Services Enron Broadband Services, formerly Enron Communications, Inc., is a leading provider of high quality, broadband Internet content and applications. The company,s business model combines the power of the Enron Intelligent Network, Enron,s Broadband Operating System, bandwidth trading and intermediation services, and high-bandwidth applications, to fundamentally improve the experience and functionality of the Internet. Enron introduces its Broadband Operating System to allow application developers to dynamically provision bandwidth on demand for the end-to-end quality of service necessary to deliver broadband content. Enron is also creating a market for bandwidth that will allow network providers to scale to meet the demands that increasingly complex applications require. A wholly owned subsidiary of Enron Corp. (NYSE: ENE), Enron Broadband Services can be found on the Web at www.enron.net. About Enron Enron is one of the world,s leading electricity, natural gas and communications companies. The company, which owns approximately $34 billion in energy and communications assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide, delivers physical commodities and financial and risk management services to customers around the world, and is developing an intelligent network platform to facilitate online business. Enron,s Internet address is www.enron.com. The stock is traded under the ticker symbol, &ENE.8
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/26/2001 04:33 PM --------------------------- Kristin Walsh 01/25/2001 11:23 AM To: John J Lavorato/Corp/Enron cc: Jeffrey A Shankman/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Vince J Kaminski/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Michelle D Cisneros/HOU/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT, John Greene/LON/ECT@ECT, Jaime Gualy/NA/Enron@Enron, Phillip K Allen/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron, Robert Johnston/HOU/ECT@ECT Subject: California Update 1/25/01 California Timeline: February 2nd: The state legislature has to pass the enabling laws to let the state pay for the electricity from auction before the current emergency money runs out on February 2. Republican leaders have vowed to block any additional emergency funds. The California courts gave Edison a two-week grace period (until February 2) on demands by the California Power Exchange that Edison forfeit $215 million in long-term low cost power contracts to the CPX for repayment of its debt. Governor Davis told the Court that he may absorb that contract in favor of taxpayers using his emergency "taking" powers. February 7th: President Bush, who had to intervene personally against his energy secretary to extend the Energy Department order mandating electricity sales to California by power generators, made it abundantly clear to all sides that the two week deadline was hard and would not be extended. February 13th: Edison worked out a three-week grace period -- through February 13 -- with all of its 32 banks and QFS to prevent from asking for accelerated repayment during that period, but if the state has not figured out a way to bridge that debt by then, this deadline could be a real trigger for bankruptcy. Legislation As mentioned in Tuesday's update, legislators are close to a long-term power buying deal with the so-called "green" producers (wind, solar, hydro, cows) of energy, accounting for 30% of California's total energy production. This would allow the Department of Water Resources to buy power from them at 8 cents per kilowatt hour. Bill AB1X--the key piece of legislation for setting long-term power contracts--is still being mulled over in the Senate, but is expected to pass this week. The keys issues is still the price, which will probably be revised in accordance to the results of the auction. Other legislation has been introduced, including three bills by Boxer that would increase federal support and impose "windfall profits tax" for wholesalers that sell power at "unfair and unreasonable" rates. The hydro legislation is still being bantered about, however with going opposition from both Democrats and Republicans. Bail out scenarios A new scenario is a market-oriented solution that would give the state of California "warrants" on the PG&E and Edison stock in return for lending them the money to get out of this current mess (still the problem of financing the $6B vs. $12B). As the stock prices recovered, the state could cash in the warrants and rebate to electricity users some of the emergency surcharge needed to pay back the debt. This is exactly the plan used to bail out Chrysler in the late 1970s and it worked wonders for taxpayers then. This senario would also provide Davis with some political cover, as the idea of rebates are far more appealing than price increases. Lots of details remain to be worked out, but even the consumer activist groups threatening to create propositions on fall ballots appeared to like this deal. Bankruptcy Socal is close to an agreement with 32 bank creditors and QFs to allow a forbearance on debt payments through February 13th. However, it is not expected that the bondholders would agree to this type of deal. The bondholders could try to force the utilities into involuntary bankruptcy, but would probably be unsuccessful. As long as Socal continues working with their creditors and show "good faith" any bankruptcy at this time would have to be voluntary. As this date (Feb. 13th) fast approaches, the state will have to take quick action and draft and approve legislation between the governor, the generators and the utilities to prevent Socal and PG&E from bankruptcy. As part of the forbearance agreement, Edison has contracted with around 400 QFs and negotiations have been directed toward separating the rate schedules of generation facilities fuelled between renewables and gas fired generation. Socal is attempting to shift gas fired QFs to longer term schedules in light of the recent higher gas prices. Auction After a nervous night when only one bid had come to the state's Internet site by midnight on Tuesday, California officials were happy to announce that they had almost 40 bids at an average of 6.9 cents per kilowatt-hour, below the 7.4 cent real cap state officials had set internally as the threshold between doable and impossible. This was well above the 5.5 cent ceiling the governor had publicly stated as the preferred level. Davis will now turn the negotiating process over to David Freeman, who heads the Los Angeles electric agency and is generally considered the dean of public-private utilities in the west. One thing to note, the State of California has no intention of any credit guarantees for the bids with the Department of Water Resources. Several California legislators have made it very clear that they do not want the state to be ultimately responsible for these power purchases.
-----Original Message----- From: Marvin L. Carraway [mailto:[email protected]] Sent: Tuesday, February 27, 2001 12:39 AM To: Reagan.Rorschach Subject: [Fwd: Revised Draft of Entergy/MDEA Interconnection Agreement] Return-Path: [email protected] Received: from coldscn02.morganlewis.com ([12.104.97.122] verified) by watervalley.net (Stalker SMTP Server 1.8b8) with SMTP id S.0000039933 for <[email protected]>; Mon, 26 Feb 2001 09:16:47 -0600 Received: from 131.254.253.172 by coldscn02.morganlewis.com with ESMTP ( WorldSecure Server SMTP Relay(WSS) v4.5); Mon, 26 Feb 2001 10:18:18 -0500 X-Server-Uuid: 76d36b76-3d48-11d4-a2af-00508bc764a5 Subject: RE: Revised Draft of Entergy/MDEA Interconnection Agreement To: "Blair, Bonnie" <[email protected]> cc: "Blair, Bonnie" <[email protected]>, [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] X-Mailer: Lotus Notes Release 5.0.3 March 21, 2000 Message-ID: <[email protected]> From: [email protected] Date: Mon, 26 Feb 2001 10:16:38 -0500 X-MIMETrack: Serialize by Router on COLDGTW01/SVR/MLBLaw(Release 5.0.3 \|March 21, 2000) at 02/26/2001 10:16:40 AM MIME-Version: 1.0 X-WSS-ID: 1684AC30338188-01-01 Content-Type: multipart/mixed; boundary="0__=852569FF0053B7468f9e8a93df938690918c852569FF0053B746" Content-Disposition: inline X-Mozilla-Status2: 00000000 Sorry about that; some got the attachment but others didn't. Here it is again. If this one fails too, please let me know and I'll have a copy messengered over. Thanks. Mike Griffen Morgan Lewis (202) 467-7257 (See attached file: MDEA_IOA_2-25-01.doc) "Blair, Bonnie" <bblair@thompsonc To: "'[email protected]'" oburn.com> <[email protected]>, "Blair, Bonnie" <[email protected]>, 02/26/01 10:08 AM [email protected], [email protected], [email protected] cc: [email protected], [email protected], [email protected] Subject: RE: Revised Draft of Entergy/MDEA Interconnection Agreement Hi, Mike - - I received your e-mail, but the revised draft agreement was not attached, just two versions of your cover note. Please resend. Thanks. Bonnie -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Sunday, February 25, 2001 9:00 PM To: [email protected]; [email protected]; [email protected]; [email protected] Cc: [email protected]; [email protected]; [email protected] Subject: Revised Draft of Entergy/MDEA Interconnection Agreement ******************************************************************** Please note that the Morgan Lewis e-mail domain has been changed to "morganlewis.com". In most cases, the person's e-mail address is their first initial and their full last name plus @morganlewis.com. To locate the e-mail address of a specific individual at Morgan Lewis, please refer to the firm's web site, now located at http://www.morganlewis.com, or send an e-mail to [email protected]. Please update your address book and bookmarks accordingly. If you are experiencing technical problems, please call our toll free hot line at 877-963-4652. The information contained in this e-mail message is intended only for the personal and confidential use of the recipient(s) named above. This message may be an attorney-client communication and as such is privileged and confidential. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is strictly prohibited. If you have received this communication in error, please notify us immediately by e-mail, and delete the original message. ******************************************************************coldsc n01 ****************************************************************** Please note that the Morgan Lewis e-mail domain has been changed to "morganlewis.com". In most cases, the person's e-mail address is their first initial and their full last name plus @morganlewis.com. To locate the e-mail address of a specific individual at Morgan Lewis, please refer to the firm's web site, now located at http://www.morganlewis.com, or send an e-mail to [email protected]. Please update your address book and bookmarks accordingly. If you are experiencing technical problems, please call our toll free hot line at 877-963-4652. The information contained in this e-mail message is intended only for the personal and confidential use of the recipient(s) named above. This message may be an attorney-client communication and as such is privileged and confidential. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is strictly prohibited. If you have received this communication in error, please notify us immediately by e-mail, and delete the original message. ********************************************************************coldscn0 2 - MDEA_IOA_2-25-01.doc
_________________________________________________________________ B R E A K F A S T W I T H T H E F O O L Tuesday, November 21, 2000 [email protected] _________________________________________________________________ REGISTER TO BECOME A FOOL -- GET FREE STUFF! http://www.fool.com/m.asp?i=205552 _________________________________________________________________ Sponsored By: Ameritrade You're headed to Wall Street in style. Get 2 round-trip tickets to Hawaii, Mexico or London when you open a cash account with just $500. Click here for Ameritrade. http://www.lnksrv.com/m.asp?i=205553 "It is human nature to think wisely and to act in an absurd fashion." -- Anatole France AGILENT EARNS ITS "A" Agilent tops estimates and moves to the head of the class. By Rick Aristotle Munarriz If there were truth in ticker symbols, Agilent (NYSE: A) would be holding up its "A" report card proudly. With quarterly estimates pegged at $0.53 a share, the electronics testing equipment maker powered up expectations with a $0.69-a-share showing. That was a 77% surge in bottom-line growth before charges on $3.4 billion in revenues for the September period. That's welcome news for a company that has seen its shares fall sharply since peaking at $162 back in March. However, a slowdown in microchip testing equipment as well as weakness in the wireless market has the company warning of slower growth ahead. With a healthy backlog of orders, Agilent still expects to meet estimates of $0.45 for the current quarter. Spun off by Hewlett-Packard (NYSE: HWP) last year, Agilent will be deploying new capital into areas where it sees higher growth: communications and life sciences. I guess that gives the company an "A" for effort too. _________________________________________________________________ NEWS TO GO Chipped off the old block, semiconductor distributor Avnet (NYSE: AVT) announced that earnings for the current quarter would come in between a nickel to a dime below the $0.85-a-share forecast. While acknowledging the cyclical ways of the chip industry, the company believes that earnings for the rest of the year will remain on track. Attention holiday shoppers, Nieman Marcus (NYSE: NMG.A) reported stronger-than-expected profits but warned of slow action at the registers so far this month. That's critical as the upscale department store chain heads into the important buying season. Nobody wants to see the Grinch steal Christmas (well, OK, it did top the box office this past weekend, but that's another story). EDGAR Hoovered? The Securities and Exchange Commission's (SEC) site for electronic financial filing and data retrieval will go down on Friday for a "major upgrade." The Electronic Data Gathering, Analysis, and Retrieval system -- thankfully better known as EDGAR -- will be back up on Monday morning. http://www.lnksrv.com/m.asp?i=205554 Has Ozzy Osbourne bitten off more than he can chew -- again? The legendary showman is suing Hughes Electronics (NYSE: GMH) and MCY.com (Nasdaq: MCYC) for broadcasting an Ozzfest 2000 concert tour stop to Hughes' DirecTV subscribers. Osbourne claims that tour sponsor MCY.com only had rights to a Web cast of the rock event. Mr. Crowley will not be his legal counsel. Deere (NYSE: DE) John? An epic Novell (Nasdaq: NOVL)? Hit the Fluor (NYSE: FLR)? These questions and more will be answered as the companies get set to release earnings today. Check out yesterday's Foolish market wrap-up with just one click. http://www.fool.com/m.asp?i=205555 _________________________________________________________________ EDITORS' PICK Matt Richey explains the Fool's new, free My Accounts service that drastically simplifies how you manage all of your online accounts. http://www.fool.com/m.asp?i=205556 _______________________________________________________________ -News & Commentary http://www.fool.com/m.asp?i=205557 -Fool Community http://www.fool.com/m.asp?i=205558 -Post of the Day http://www.fool.com/m.asp?i=205559 -Latest Fribble http://www.fool.com/m.asp?i=205560 -Latest Market Numbers http://www.fool.com/m.asp?i=205561 ____________________________________________________________ My Portfolio: http://www.fool.com/m.asp?i=205562 My Discussion Boards: http://www.fool.com/m.asp?i=205563 My Fool: http://www.fool.com/m.asp?i=205564 Fool.com Home: http://www.fool.com/m.asp?i=205565 My E-Mail Settings: http://www.fool.com/m.asp?i=205566 Sponsored By: Ameritrade You're headed to Wall Street in style. Get 2 round-trip tickets to Hawaii, Mexico or London when you open a cash account with just $500. Click here for Ameritrade. http://www.lnksrv.com/m.asp?i=205567 17 INDUSTRIES WORTH A LOOK See which industries our writers think will be hot next year with Industry Focus 2001. http://www.lnksrv.com/m.asp?i=205568 ARE YOU ENROLLED IN WIRELESS 201? Don't miss the sequel to the best-selling report on Soapbox.com http://www.lnksrv.com/m.asp?i=205569 FOOL DIRECT E-MAIL SERVICES Need to change your address or unsubscribe? You can also temporarily suspend mail delivery. Click here: http://www.fool.com/community/freemail/freemaillogin.asp?email=benjamin.rogers @enron.com> Have ideas about how we can improve the Fool Direct or new e-mail products you'd like to see? Try our discussion board: http://www.fool.com/m.asp?i=205570 ____________________________________________________ (c) Copyright 2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. . MsgId: msg-7420-2000-11-21_9-09-44-3298457_2_Plain_MessageAddress.msg-09:14:31(11-21- 2000) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: [email protected]
---------------------- Forwarded by Gerald Nemec/HOU/ECT on 07/02/99 11:13 AM --------------------------- Enron Capital & Trade Resources Corp. From: Office Chairman @ ENRON 07/01/99 12:33 PM To: Enron Worldwide cc: Subject: Organizational Changes Interoffice Memorandum Enron's performance has been exceptional. This performance is reflected in our stock price, in the recognition we receive in the media and financial communities, and, most importantly, in the enthusiasm of our people. It has been clear to us for some time that we are driving fundamental change in the marketplace and that our natural gas, electricity and communications networks can be positioned for even greater growth. A &new economy8 is emerging, an economy based on intellectual capital and the compelling economics of networks. Capturing the opportunities in this new economy calls for increased coordination and integration across our wholesale (ECT, ECM, EI), retail (EES), and communications (ECI) businesses. It is our intention to combine the operations of these businesses into a cohesive organization that will ensure we realize the growth we foresee in all our businesses. To this end, we are initiating a number of organization and staffing changes in these businesses and related changes in the Enron Office of the Chairman, in Corporate Staff groups, and in a number of management/personnel committees. Other business units, EOG, GPG, PGE, and Azurix, will not be directly affected. Accordingly, the following changes are effective immediately. Enron Office of the Chairman Joe Sutton will join the Office of the Chairman as Vice Chairman. In his new role, Joe will work with the two of us to manage the operations of the company. Rebecca Mark, previously Vice Chairman of the company, will now fully concentrate on her responsibilities as Chairman and CEO of Azurix, our most recent public company. Rebecca has also been elected to the Enron Board of Directors, effective today. Ken Harrison, previously Vice Chairman of the company, will fully concentrate on his responsibilities as Chairman and CEO of Portland General Electric and Non-Executive Chairman of Enron Communications. Ken will continue to serve on Enron's Board of Directors. Redefined Business Units ECT, ECM, EI, EES, and ECI will be regrouped into eight regions/businesses and five global functions. Each region/business will be operated as an independent entity but will coordinate staffing, career paths, compensation and performance review across all units. Each global function will provide its specialized expertise across all regions/businesses. Included in these functions is a new technology function, which will focus on information systems and growth of our e-commerce capabilities where we believe there is enormous potential. These organizational units and their leadership are as follows: Regions/Businesses North America: Cliff Baxter, CEO; Kevin Hannon, COO Europe: Mark Frevert, CEO; John Sherriff, President; Dan McCarty, COO South America: Jim Bannantine, Co-CEO; Diomedes Christodoulou, Co-CEO India: Sanjay Bhatnagar, CEO Caribbean, Middle East: David Haug, CEO Asia, Africa: Rebecca McDonald, CEO EES: Lou Pai, CEO; Tom White, Vice Chairman ECI: Joe Hirko, Co-CEO; Ken Rice, Co-CEO (Ken Harrison ) non-executive Chairman) Global Functions Risk Management: Greg Whalley, CEO Finance: Andy Fastow, CFO; Jeff McMahon, Treasurer Asset Operations: Kurt Huneke, CEO EE&CC: Larry Izzo, CEO Technology: Mike McConnell, CEO Corporate Staff All corporate and EI staff units will be regrouped into six corporate staff groups. These staff groups will support all operations of Enron. These organizational units and their leadership are as follows: Legal: Jim Derrick, EVP and General Counsel; Rob Walls, SVP and Deputy General Counsel Risk Assessment and Control: Rick Buy, EVP Accounting and HR: Rick Causey, EVP and Chief Accounting Officer Investor Relations: Mark Koenig, EVP Other Staff Groups: Steve Kean, EVP and Chief of Staff Corporate Development: To be determined. Committees A new Executive Committee will be formed to replace the existing Management and Operating Committees. Membership will be as follows: Ken Lay, Chairman Jeff Skilling, Alternate Chairman Joe Sutton Stan Horton Jim Bannantine Kurt Huneke Cliff Baxter Larry Izzo Sanjay Bhatnagar Steve Kean Rick Buy Mark Koenig Rick Causey Rebecca Mark (Ad hoc) Diomedes Christodoulou Mike McConnell Jim Derrick Rebecca McDonald Andy Fastow Jeff McMahon Peggy Fowler Lou Pai Mark Frevert Mark Papa (Ad hoc) Kevin Hannon Ken Rice Ken Harrison John Sherriff David Haug Greg Whalley Joe Hirko Tom White Four other committees, which will be essential to the success of this new organization, will be formed. These committees are: Managing Director and SVP Personnel Committee: Jeff Skilling, Chairman Vice President Personnel Committee: Kevin Hannon, Chairman Vision and Values Committee: Joe Sutton, Chairman Workforce Diversity: Ken Lay, Chairman Details of membership on these committees will follow shortly. Summary Over the next several weeks all of the specifics of this reorganization will be further ironed out and communicated. In the meantime, please bear with us - we are confident that these changes will have a significant, positive impact on the operation and growth of the company.
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INSIDE NYTIMES.COM The New York Times on the Web, Wednesday, December 13, 2000 ______________________________________________________ Dear Member, With the holidays approaching, we've brought together all the information you need. In our special Holidays section, you'll find reviews of holiday films, buying guides from our technology experts at Circuits to help you find computers and electronics, our special holiday Book Review issue, information on travel in the snow or sun, and fun ways to entertain the kids while they're home on vacation. Holidays is updated every day with all the holiday-related information appearing in The New York Times, and it's available only on the Web. http://www.nytimes.com/pages/holidays/?1213c Elsewhere on the site you can send your friends and family NYTimes.com e-greeting cards featuring holiday photos from The New York Times Photo Archives, and download a new holiday screensaver that includes ten photographs from The Times celebrating the magical season in the city. http://postcards.nytimes.com/specials/postcards/?1213c At Abuzz, you can join a discussion of the best places to find holiday gifts online. http://nytimes.abuzz.com/interaction/s.124643/discussion/e/1.162 And at WineToday.com, you'll find the "Holiday & Vine Food and Wine Guide," to help you plan your holiday meals. Select one of five classic seasonal entrees and let WineToday.com recommend side dishes, desserts and the perfect wines to uncork at the table. http://winetoday.com/holidayvine/?1213c Finally, please accept our best wishes for the holiday season by visiting this special online e-greeting card: http://postcards.nytimes.com/specials/postcards/flash/?1213c ------ MORE NEW FEATURES ------ 1. Get insights into the latest Internet trends 2. How dependable is your car? 3. Enjoy salsa music made in New York 4. Remembering John Lennon 5. Explore our exclusive Chechnya photo documentary 6. Bring today's news to your family table /--------------------advertisement----------------------\ Exclusive Travel Opportunities from Away.com. Sign up for free travel newsletters from Away.com and discover the world's most extraordinary travel destinations. From kayaking in Thailand to a weekend in Maine, no other site meets our level of expertise or service for booking a trip. Click to get away with our Daily Escape newsletter! http://www.nytimes.com/ads/email/away/index3.html \-----------------------------------------------------/ ------ 1. Get insights on the latest Internet trends ------ At the end of a tumultuous year, the latest edition of The New York Times's E-Commerce section looks at the larger trends of business and marketing on the Internet. Articles examine media buying, e-mail marketing, interactive kiosks, nonprofit recruiting and celebrity endorsements. http://www.nytimes.com/library/tech/00/12/biztech/technology/?1213c ------ 2. How dependable is your car? ------ Has your old clunker survived wind, fog and even windshield wiper malfunction this winter season? See if your car ranks among the most reliable according to J.D. Power & Associates 2000 Vehicle Dependability Study. http://www.nytimes.com/yr/mo/day/auto/?1213c ------ 3. Enjoy salsa music made in New York ------ Our latest Talking Music feature explores the history and development of salsa. It includes an audio-visual timeline and audio interviews with two of the music's most popular artists -- salsa pioneer Johnny Pacheco and contemporary singer La India. http://www.nytimes.com/library/music/102400salsa-intro.html?1213c ------ 4. Remembering John Lennon ------ New York Times Music critic Allan Kozinn leads an audio round table discussing the life and work of John Lennon, 20 years after his death, with Jack Douglas, the producer of "Double Fantasy;" Jon Wiener, author of books on the Lennon FBI files; and William P. King, editor of "Beatlefan." Also included in this feature are radio interviews with Mr. Lennon and Yoko Ono and archival photographs and articles. http://www.nytimes.com/library/music/120800lennon-index.html?1213c ------ 5. Explore our exclusive Chechnya photo documentary ------ This special photo documentary of the conflict in Chechnya brings together moving photographs taken by James Hill for The New York Times and his unique audio diary of the events. http://www.nytimes.com/library/photos/?1213c ------ 6. Bring today's news to your family's table ------ Conversation Starters, the newest feature of the Learning Network, helps parents discuss the day's news with their children. Monday through Friday, Conversation Starters offers a set of newsworthy and provocative questions as well as related articles from The Times. http://www.nytimes.com/learning/parents/conversation/?1213c Thanks for reading. We hope you'll make a point of visiting us today and every day. Sincerely, Rich Meislin, Editor in Chief New York Times Digital P.S. If you have a friend or colleague who might be interested, feel free to forward this e-mail. 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Hey, I was just wondering if you would be able to do the TV this month? -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Wednesday, November 08, 2000 4:33 PM To: [email protected]; [email protected]; Bass, Jason; [email protected] Subject: Telluride E-Ride Newsletter ---------------------- Forwarded by Eric Bass/HOU/ECT on 11/08/2000 04:32 PM --------------------------- [email protected] on 11/08/2000 04:57:04 PM To: [email protected] cc: Subject: Telluride E-Ride Newsletter HELLO AGAIN E-RIDERS! Yes, the snow has started to come down! In very big ways! In fact, Telluride has received over 3 feet of fresh powder since October 1 and the temperatures have been frigid?which makes for excellent snowmaking conditions. Winter has come, and you know what that means ? YES! Time to strap on some boards and make some turns! SNOW REPORT As the snow has begun to come with increasing regularity, you can imagine the local attitude begins to buoy. At lunch the other day, when we looked out the window and saw the big flakes coming down, we made a loud whoop with our waiter, causing all heads in the restaurant to turn our way. But when the other diners saw the white stuff, EVERYONE started buzzing with the anticipation. Folks are getting ready for the season. For a sneak preview, check out the photo of the day at www.telluride-ski.com/dayphoto.html. BARGAINS & DEALS The best-case scenario for skiing Telluride is to live here. But the NEXT best-case scenario is that you get a screaming deal to vacation here. And that's what Telluride and Mountain Village Visitor Services has for you. Check out these packages for round-trip air, lodging and skiing from some of America's biggest hubs: Dallas Special: $831 per person - 5 nights lodging, 4 days skiing and roundtrip air to Montrose Houston Special: $814 per person - 5 nights lodging, 4 days skiing and roundtrip air to Montrose Chicago Special: $825 per person - 5 nights lodging, 4 days skiing and roundtrip air to Montrose Miami Special: $929 per person - 5 nights lodging, 4 days skiing and roundtrip air to Montrose To get any of these specials, call 1-888-288-7360. If you choose to put together a package on your own, check out the lodging deals at www.telluride-ski.com and click on HOT DEALS. WHAT'S NEW You can never have too much snow. With that in mind, the Telluride Ski Resort installed a new snowmaking system this summer that guarantees that every lift pod will have coverage on at least one run all season long! Yep. Lifts 1, 4, 5, 6, 7 and 9 will have better conditions for riding and skiing from beginning to end. As the hipper folks say, the turns will be "tasty." The tastiest new addition to the mountain, however, is Allred's, a new 140-seat restaurant that is guaranteed to delight even the most discriminating diners. Located mid-mountain at the gondola Station St. Sophia, Allred's will serve as a private club by day in the winter, an upscale lunch spot in the summer and a fine dining experience in the evenings year-round. More on this epicurean dream in later e-rides. For dinner reservations, call 970-728-7474. One other great new thing: It's easier to get to Telluride than ever before. You can now fly to Montrose EVERY DAY from Dallas/Ft. Worth on American Airlines?but the flight will only have 129 seats, so be sure your body is in one of them! WHAT'S HAPPENING Of course the most important thing on the Telluride calendar is November 22, the Official Opening Day. But there are other things worth mentioning. Like the Sneak Preview of the mountain on November 21. For one day only you can ski Telluride for $20, and all proceeds go to the Telluride Ski and Snowboard Club. After the Donation Day, you can still get good deals. From November 21 through December 16, Telluride hosts its annual Ski Free & More program. What's it entail? Exactly what it says. Skiers and riders staying at participating lodges in the towns of Telluride and Mountain Village can choose a free lift ticket, a free ski clinic, a free lunch or a free half-day of childcare for each night they stay. For more information call 888-288-7360. And if you're looking forward to having a ball, why not do it right at the annual Black & White Affair? On November 25, the Telluride Ski and Snowboard Club hosts this gala event at the luxurious Telluride Conference Center. Dress up and dance off your turkey. No one puts on a ball like Telluride! SLICE OF LIFE Imagine being over 50 years old and never having seen any snow! Such was the case for my friend Sarah, who recently moved to Telluride from the Caribbean. She and her daughters arrived late this summer, and when the snows began to fall a few weeks ago, they were in rapture! Sarah ran outside and began to dance around (to her 17-year-old daughter's absolute embarrassment!) However, the daughters both caught the enthusiasm and built their first snowman ever. The snowman , of course, had a perfect carrot nose.. An organic carrot, no less. Hey, this is Telluride. Only the best for our snowmen. AND SO, E-RIDERS, That's all for this letter. Hope you're planning your trip to Telluride, where the snow is always whiter and the lines are always short. See you on the slopes! Rosemerry WHO'S WRITING THIS ANYWAY? Against her will, Rosemerry Wahtola Trommer learned to ski in Telluride six years ago. But after a few turns, she fell ? in love with the sport. She lives with her husband and cat at the base of Lift 7?an ideal spot for getting first chair of the morning.
In case this becomes big news in the United States, attached is a summary from the Argentina team of the political situation in Argentina. It is not a political meltdown but it is a significant change in the executive branch and potential realignment of the political parties in Argentina. The cabinet shuffle and resignation of the vice president are in the wake of the senate bribery scandal in Argentina where the opposition was supposedly bribed to vote for the governments changes in law (actually in favor of economic reform). The cabinet shuffle was economics oriented with the economic team being strengthened, but potentially at the expense of the alliance that holds the government and a majority in Congress over Menem's party, the peronists. The vice president was the senior member of the second party in the alliance (President De La Rua is senior member of the first party in the alliance). Financial markets reacted slightly negatively to the shakeup with bond spreads widening slightly and Argentine stock prices down slightly. As a minimum we will keep a close eye on the political and financial situation and be prepared for any more significant reaction by the financial markets. ---------------------- Forwarded by James M Bannantine/ENRON_DEVELOPMENT on 10/08/2000 07:04 PM --------------------------- Don Black@ENRON 10/07/2000 08:16 AM To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Joe Kishkill/SA/Enron@Enron, Diomedes Christodoulou/SA/Enron@Enron, Peter E Weidler/NA/Enron@Enron, Michael Guerriero/SA/Enron@Enron Subject: Argentina Political Analysis Mike, Thanks for the quick turnaround on this from you and your team. Jim, This is as far as this distribution went. Please edit as needed and forward to whomever you feel necessary. ---------------------- Forwarded by Don Black/SA/Enron on 10/07/2000 11:07 AM --------------------------- From: Michael Guerriero on 10/07/2000 10:13 AM To: Don Black/SA/Enron@Enron cc: Guillermo Canovas/SA/Enron@Enron, Cristian Folgar/SA/Enron@Enron, Maria Belen Salvador/SA/Enron@Enron Subject: Argentina Political Analysis As reported Carlos Chacho Alvarez resigned his position Friday as Vice president of Argentina. The main reason of this resignation was a political disagreement with Cabinet changes announced on Thursday 5th by President De la Rua. Alvarez publicly noted he could no longer tolerate the political differences with the President over the senate bribery scandal. Particularly Alvarez disagreed with De la Rua's decision to promote Alberto Flamarique from Minister of Labor to General Secretary and to keep Fernando de Santibaez as Chief of the Intelligence Department. Both Flamarique and Santibaez are suspected of paying bribes to Senators to vote for a new Labor Law. Alvarez has emotionally championed the fight against the senate scandal and has been strongly advocating for the resignation of Flamarique, Santibaez and all Senators involved in the affair. It was considered that the decision of De la R?a was intended to demonstrate that he, and not Alvarez, holds the power and that De la R?a wanted to demonstrate that the changes were focused on improving the economic situation and to move beyond the Senate scandal. The main changes in the cabinet, announced on Thursday 5th, are the following: Chistian Colombo (economist, in good relationship with Machinea) will replace Terragno as Chief of Cabinet. Machinea (Minister of Economy) will also be responsible of the Ministry of Infrastructure. Jorge De la R?a (former General Secretary of the President and President's brother) will be Minister of Justice. Patricia Bullrich (peronist) will be Minister of Labor. As a consequence of Alvarez' resignation, Flamarique resigned to his position of General Secretary of the President. Regarding the preliminary impact of the political changes to the economic situation it could be considered the following: Before Alvarez resignation, the cabinet changes were considered positive intending to increase the power of the Minister of Economy and reduce the internal disagreements in the Administration. Although Alvarez (the leader of the Frepaso party) said he will be still part of the "Alianza" (the Radical and Frepaso party alliance) in Office, Alvarez' resignation could lead to the division of the Alianza and reduce the ability of De la Rua to pass new laws in the Congress. A breakup of the coalition would make the Peronist the largest party in both houses of Congress only compounding the potential for government gridlock This situation will weaken De la Rua and probably foster new re-alignments in the political field. All the situation will increase economic uncertainty and will delay economic recovery. The market will wait to see if a conflict develops in the Alianza. De la Rua and his team will probably be forced to take "strong" decisions to retain the political initiative, strength and control. Machinea will probably try to gain the market confidence, announcing that De la Rua's Administration will not change the macro foundations of the economic agenda and even increase its commitment toward monetary and fiscal equilibrium, exchange rate policy, respect for vested rights, etc. Financial analysts have viewed the situation as "an institutional crisis with unknown effects on the economy". The insecurity of the Argentina's political future caused Argentine debt paper to fall. The Argentine JP Morgan Emerging Market Bond Index widened 23 basis points to 685 over US Treasuries. Argentina's 17 year global bond fell only slightly. There does not appear to be a market panic as noted by the trading of Argentine ADR's in New York. They were down cents rather than dollars and a number of them closing unchanged. We will continue to monitor the situation and update as warranted.
Here's the email that I mentioned in my voicemail. Take care, Mark -----Original Message----- From: [email protected]@ENRON [mailto:[email protected]] Sent: Thursday, March 15, 2001 9:08 AM To: [email protected] Subject: SEC Chairmanship and James R. Doty Mark: If this is not what you had in mind, let me know. I have tried to give you some detail to back up my claim that I can provided much-needed stature and leadership to the SEC. I am also addressing what I think may be some of the objections of constituencies in the corporate and financial community who have, I believe, told the Administration not to appoint a lawyer and former member of the Staff of the SEC. (Of course, Arthur Levitt was not a lawyer, and was a former head of the Amex, and has rammed through one of the mose activist regulatory programs in SEC history! So what I am offering, in part, is balance and respect for process). 1. The President has the opportunity, by appointing Jim Doty, to get the SEC headed in a direction the corporate and financial community wants and to do so with broad (indeed, enthusiastic) support from the agency itself, the corporate and securities bar, the accounting profession and other constituencies (including the NASDAQ, the NYSE, members of the Congressional oversight committees and their staff on both sides of the aisle). Doty knows securities markets and practices through his work for securities firms and is well aware of the issues of market structure that will face the new Chairman--in this he favors continuing to encourage competition and technological innovation in the markets, and is committed to keeping our capital markets the best in the world. He understands the problems the accounting profession and the standard-setting bodies are facing--including international accounting standard issues--and is well equipped to be sure the private standard setting regime we have relied on works well and with sensitivity to current realities. He will not be a "grenade thrower" on the complex pooling/purchase issues now confronting the SEC and the FASB. (Here it will be particularly important that the next Chariman give the FASB proposals on impairment of goodwill in purchase transactions a fair hearing, and not attempt to "strong arm" the private standard setters into a requiring accelerated depreciation of goodwill: this is especially critical given the fragile state of the technology sector.) Doty has spent his career advising boards of directors and senior management on the practical problems businessmen face in dealing with the SEC. He will bring to the job hands-on experience working with the business community(corporate and financial), in solving the problems they face in raising capital and complying with securities regulatory regimes--State, Federal and cross-border. 2. Doty has a national reputation as a corporate- and securities- law expert, has published and is in demand as a speaker. As a practicing lawyer, however, Doty would bring some extraordinary qualifications to the job of running the SEC, which are as folows: a. His record as General Counsel of the SEC from 1990-92 demonstrates an understanding of how to work effectively in governmnet. Doty has the respect of the Staff and will bring credibility within the building to accomplish needed reform. During his tenure as the SEC's General Counsel, with a Democratic majority in Congress, he had a major role in reform initiatives to reduce costs of raising capital and streamline the financial regulatory structure under President George H.W.Bush. These included the Small Business Initiative, which reduced costs for small- and first-time registrants, and structured finance initiatives to provide more efficient access to capital markets for seasoned issuers. b. Doty is committed to using the exemptive authority under the Securities Act of 1933 to promote more efficiency and lower costs in the capital-formation process. He knows where additional exemptive action or repeal is needed--as in the Public Utility Holding Company Act, for example--and he will be a knowledgeable and effective ally of the Administration, including Cabinet officers, and the Republicans on the Hill, in promoting further reform and efficiency. c. Doty will get the agency behind the President's proposal to create individual retirement investment accounts for all members of the workforce. He is committed to helping the Administration get this done when they decide to push for it, and knows how the issues of safety can be practically addressed and the technical objections of critics overcome. d. Doty is a consensus-builder, a good listener and an effective communicator. He is a Texan, a Rhodes Scholar and graduate of Rice University. He has been active in the communities in which he has lived (Senior Warden of Christ Church Cathedral in Houston, Vestryman of St. John's Lafayette Square in D.C.). He is a good family man--his wife of 29 years presently serves in the First Lady's Correspondence Office. As a BakerBotts Senior Partner, Doty can afford to do this for the sake of the job well done and is not attempting to "polish his resume" for another job. e. Most important, Doty has worked tirelessly for this President, knows the President and his style, and is loyal to the President. He wants the President to succeed and will work hard to make sure the policies and practices of the SEC reflect well on the President and his Administration.
FYI-- The information below is an excellent overview of the procedures our administrative personnel will be using when handling and distributing your mail into mail folders. However, all administrative personnel in the Portland Enron WTC offices have received a hard copy of the guidelines and procedures issued by Oregon Department Administrative Services. This four-page document has detailed guidelines and instructions for mail/parcel handling. If you would like to get a copy of these guidelines, ask your administrative assistant or you can contact Debra Davidson to get a copy. The World Trade Center Mailroom has informed Debra that they are also screening mail for lumps, powdery substances, unusual written comments on envelopes, etc. If they detect a suspicious piece of mail or package addressed to our office, they will notify us as well as the proper authorities. If you have any questions or concerns, please see me or Debra Davidson. -----Original Message----- From: Enron Announcements/Corp/Enron@ENRON On Behalf Of John Brindle, Business Controls@ENRON Sent: Wednesday, October 17, 2001 7:42 PM To: Enron Employees ---- Domestic@ENRON Subject: Anthrax and other Biological Agent Threats We understand that the recent cases of Anthrax contamination and the possibility that biological agents such as Anthrax may be used in a terrorist attack are raising great concerns among Enron employees. Many government and commercial facilities in the United States have already received Anthrax threat letters containing powdery substances. Most of these have, however, been determined to be false alarms. We have no reason to believe that Enron has been or will be the target of an Anthrax attack, but we want to provide all employees with background information on Anthrax and up-to-date guidance for handling any possible Anthrax exposures. If you have additional questions or concerns, please contact Corporate Security in Houston at (713) 345-2804 or via email at [email protected]. The most important thing to remember is: Do not panic. To infect someone, the Anthrax organism must be rubbed into abraded skin, swallowed, or inhaled as a fine, aerosolized mist. Infection can be prevented after exposure to Anthrax by early treatment with the appropriate antibiotics. Anthrax cannot be spread from one person to another. Following are guidelines for identifying and dealing with suspicious letters or packages: What constitutes a suspicious letter or parcel? (Remember, these are only guidelines. Use your best judgment when determining if a letter or package is suspicious.) -- It is marked with the word "Anthrax." -- It has a non-identifiable powdery substance on the outside. -- It is unexpected or from someone unfamiliar to you. -- Is addressed to someone no longer with your organization or is otherwise outdated. -- Has no return address, or has one that cannot be verified as legitimate. -- Is of unusual weight, given its size, or is lopsided or oddly shaped. -- Has an unusual amount of tape on it. -- Is marked with restrictive endorsements such as "personal" or "confidential". -- Has a strange odor or stain. -- Shows a city or country in the postmark that does not match the return address. What do I do if I receive such a letter or package that I believe contains Anthrax? -- Do not shake or empty the contents of any suspicious envelope or package. -- Place the envelope or package in a plastic bag or some other type of container to prevent leakage of contents. -- If you do not have any container, then cover the envelope or package with anything (e.g., clothing, paper, trash can, etc.) and do not remove this cover. -- Leave the room and close the door, or section off the area to prevent others from entering (i.e., keep others away). -- Wash your hands with soap and water to prevent spreading any powder to your face. -- Notify your local building security official or an available supervisor. Have them call 911 to alert the local police authorities. -- List all people who were in the room or area when this suspicious letter or package was recognized. Give this list to both the local public health authorities and law enforcement officials for follow-up investigations and advice. If you open an envelope or package and a suspicious powder spills out: -- Do not try to clean up the powder. Cover the spilled contents immediately with anything (e.g., clothing, paper, trash can, etc.) and do not remove this cover! -- Leave the room and close the door, or section off the area to prevent others from entering (i.e., keep others away). -- Wash your hands with soap and water to prevent spreading any powder to your face. Report the incident to your local building security official or an available supervisor. Have them call 911 to alert the local police authorities. -- Remove heavily contaminated clothing as soon as possible and place in a plastic bag, or some other container that can be sealed. This clothing bag should be given to the emergency responders for proper handling. -- Shower with soap and water as soon as possible. Do not use bleach or other disinfectant on your skin. -- If possible, list all people who were in the room or area, especially those who had actual contact with the powder. Give this list to both the local public health authorities so that proper instructions can be given for medical follow-up, and to law enforcement officials for further investigation.
BUSINESS HIGHLIGHTS Enron Industrial Markets The Transaction Development group (TD) is responsible for corporate development, transaction execution and portfolio management activities within EIM. TD is responsible for asset and corporate acquisitions to support EIM's efforts in the Forest Products and Steel industries. TD works with EIM's Forest Products and Steel Origination groups to structure and execute complex transactions for EIM's customers. TD also manages EIM's equity investments, such as EIM's ownership position in Papier Masson, Ltee, a paper mill in Quebec, Canada. TD is comprised of approximately 20 professionals with a wide range of backgrounds including investment banking, commercial banking, management consulting, law, project development, accounting and engineering. In addition, the majority of the analysts and associates within EIM work in TD since it provides a strong base of deal experience for junior members of our organization. Enron Freight Markets Enron Freight Markets has continued to expand the transportation services offered to its customers and completed several flatbed truck moves outbound from Georgia this week. There was a shortage of flatbed equipment supply in this market and EFM was able to obtain more than three times the normal margin on each move. IN THE NEWS "Enron's bilateral internet trading platform, EnronOnline, was launched in November 1999 and is the largest e-commerce site on the planet based on the value of its transactions. As EPRM went to press, it had average daily trading volume of $3.5 billion, accounting for nearly 50% of the company's revenues from wholesale marketing activities." -- Energy Power Risk Management, May 2001 WELCOME New Hires EIM - Cheryl Lindeman ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale, Sarah Wooddy Transfers (to or within) ENA - Grace Taylor, Steven Irvin, Dina Snow NUGGETS & NOTES Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376. This is a great event for "new" as well as established customers. There will be a cocktail reception immediately after the presentations. Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco. Dates to be announced soon. Travel tip of the week: Flights reserved through Travel Agency in the Park provide you with $150,000 of flight insurance at no additional charge. EnronOnline Statistics Below are the latest figures for EnronOnline as of May 29, 2001. * Total Life to Date Transactions > 1,015,000 * Life to Date Notional Value of Transactions > $610 billion NEWS FROM THE GLOBAL FLASH Enron arranges first gas pipeline import into Italy Enron has continued its pioneering activities in the Continental gas market by arranging the first gas import into Italy. The Italian team worked with the Continental Gas desk to arrange this strategically important agreement with Blugas SpA., the wholesale gas company formed by the municipalities of Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced 100,000 cubic metres per day of natural gas from northern Europe to transport to Italy, transiting it through Germany and Switzerland, despite fierce resistance from Ruhrgas and TransitGas respectively. Aside from isolated LNG imports by incumbent monopolies this is the first time that any company has managed to import natural gas by pipeline into Italy since the Italian gas sector was officially liberalised in August 2000. The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be used to meet the needs of two thirds of Blugas' residential customers within the four municipalities. The current contract lasts for five months. Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh, Marco Lantieri and Daniela Uguccioni. Enron in the Middle East Enron has relinquished its stake in Dolphin Energy, the joint venture company formed to develop gas reserves in Qatar. Enron has agreed to transfer its 24.5 per cent stake in the project to the United Arab Emirates Offset Group (UOG), the majority shareholder. The agreement allows Enron to deploy capital elsewhere and gives UOG the opportunity to seek new partners before the project moves into its next phase. Development of the Emden/Oude gas hub moves ahead fast An important milestone in the evolution of the new gas trading hub on the Dutch-German border was reached last week. Last Friday some of the major European gas players held a meeting to officially establish the Emden/Oude gas hub. Although Enron had already initiated the development of the Emden/Oude hub by making a market through EnronOnline as early as December 2000, the goal of this meeting was to set up a working group similar to the Zeebrugge focus group who can work on setting a legal framework for the Emden/Oude hub. Enron was elected as the only new market entrant in this group, reflecting the high level of respect industry peers have for Enron as a major player in the Continental gas market -- even from incumbents! LEGAL STUFF The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed. <Embedded Picture (Metafile)>
TODAY'S HEADLINES The New York Times on the Web Sunday, May 6, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "When people started saying personal things about me, about what I was as a person, I decided it was time to get out." - JOVAN LAZAREVIC, who quit after working for 18 years as a referee in basketball, soccer and baseball. Full Story: http://www.nytimes.com/2001/05/06/sports/06SPOR.html NATIONAL ========================= U.S. Scientists See Big Power Savings From Conservation http://www.nytimes.com/2001/05/06/national/06CONS.html New Rules for Soccer Parents: 1) No Yelling. 2) No Hitting Ref. http://www.nytimes.com/2001/05/06/sports/06SPOR.html Segregation Growing Among U.S. Children http://www.nytimes.com/2001/05/06/national/06DESE.html Sugar Rules Defy Free-Trade Logic http://www.nytimes.com/2001/05/06/business/06SUGA.html /--------------------- ADVERTISEMENT ---------------------\ 50% Off New York Times Home Delivery Enjoy the award winning journalism of The New York Times with the added benefit of convenient home delivery. Now you have another chance to get 50% off for the first 8 weeks. Pay by credit card and you'll also receive 4 additional weeks at this low introductory rate. That's 12 weeks in all! Subscribe today at: http://www.nytimes.com/ads/email/nytcirc/indexmay.html \---------------------------------------------------------/ POLITICS ========================= Cameras Being Turned on Once-Shy C.I.A. http://www.nytimes.com/2001/05/06/politics/06CIA.html News Analysis: Bush's Capitol Hill Two-Step http://www.nytimes.com/2001/05/06/politics/06BUSH.html In Spanish, Bush Focuses on Working With Mexico http://www.nytimes.com/2001/05/06/politics/06RADI.html Report Finds More Diversity at Top Levels in Government http://www.nytimes.com/2001/05/06/politics/06GOVE.html INTERNATIONAL ========================= On a Diplomatic Mission, Pope Arrives in Syria http://www.nytimes.com/2001/05/06/world/06POPE.html At Home, Mexico Mistreats Its Migrant Farmhands http://www.nytimes.com/2001/05/06/world/06MEXI.html In Israel, Panel Urges Settlement Freeze and an End to Terror http://www.nytimes.com/2001/05/06/world/06MIDE.html Poor Region's Governors in Colombia Unite to Oppose Drug Plan http://www.nytimes.com/2001/05/06/world/06COLO.html BUSINESS ========================= Sugar Rules Defy Free-Trade Logic http://www.nytimes.com/2001/05/06/business/06SUGA.html Questions of Style in Warnaco's Fall http://www.nytimes.com/2001/05/06/business/06LIND.html An Executive's Guide to Crystal Gazing in a Shaky Economy http://www.nytimes.com/2001/05/06/business/06INDI.html Penny-Pinching Wizardry for Leaner Companies http://www.nytimes.com/2001/05/06/business/06OLIV.html TECHNOLOGY ========================= Reassessing Cisco as a Tech Stalwart http://www.nytimes.com/2001/05/06/technology/06CISC.html A Wing, a Prayer and Presto, It's Web TV http://www.nytimes.com/2001/05/06/technology/06WEBTV.html Discounts That Come to Travelers Who Wait http://www.nytimes.com/2001/05/06/technology/06TRAV.html Layoffs Are Becoming a Spring Break for the Dot-Com Generation http://www.nytimes.com/2001/05/05/technology/05DOTC.html NEW YORK REGION ========================= Angered by Shooting, 200 March in Irvington http://www.nytimes.com/2001/05/06/nyregion/06RALL.html Molecular Biologist Becomes First Woman to Lead Princeton http://www.nytimes.com/2001/05/06/nyregion/06PRIN.html For Chinese, Bliss Is Eternity in a Suburban Grave http://www.nytimes.com/2001/05/06/nyregion/06GRAV.html The Latino Candidate: Yours, Mine or Ours? http://www.nytimes.com/2001/05/06/nyregion/06LATI.html SPORTS ========================= Monarchos Leaves Derby Field in the Dust http://www.nytimes.com/2001/05/06/sports/06RACI.html Once Again, Favorite Flunks the Derby http://www.nytimes.com/2001/05/06/sports/06VECS-LATE.html Collision in Crease Puts Devils on Brink http://www.nytimes.com/2001/05/06/sports/06DEVI.html A Policeman Who Turned Into a Hit Man http://www.nytimes.com/2001/05/06/sports/06ANDE.html ARTS ========================= Jane Fonda: An Unscripted Life Starring Herself http://www.nytimes.com/2001/05/06/arts/06KENN.html Ravinia Festival: Where the Trains Have a Voice in the Concerts http://www.nytimes.com/2001/05/06/arts/06OEST.html Orff's Musical and Moral Failings http://www.nytimes.com/2001/05/06/arts/06TARU.html Dancing Like a Bird, Like a Whale, Like the Wind http://www.nytimes.com/2001/05/06/arts/06SCHE.html OP-ED COLUMNISTS ========================= By MAUREEN DOWD: Mexico Likes Us! Why, only three months in, is America roiled by all these bristly spats around the globe? http://www.nytimes.com/2001/05/06/opinion/06DOWD.html By PAUL KRUGMAN: More Missing Pages How can Congress pass a budget resolution without factoring in the cost of a missile defense system, military buildup and expanded Medicare coverage? http://www.nytimes.com/2001/05/06/opinion/06KRUG.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at [email protected] or visit our online media kit at http://www.nytimes.com/adinfo
---------------------- Forwarded by Mark Dana Davis/HOU/ECT on 08/21/2001 08:26 AM --------------------------- From: John Llodra/ENRON@enronXgate on 08/20/2001 07:54 PM To: Gautam Gupta/ENRON@enronXgate, Mark Dana Davis/HOU/ECT@ECT cc: Subject: FW: Niagara Mohawk - Electric Commodity Outsourcing Conference Call Attached is a power point presentation (2nd file) outlining the terms of the deal struck between NiMo and Tractebel. It looks like Tractebel has agreed to take the supply portfolio from NiMO at NiMO's cost, and then sell SOS load for a fixed quantity at fixed prices, with any deviations from that quantity priced out at the day-ahead LBMP. Aso involves an index pricing mechanism tied to changes in NYMEX gas prices. Finally, Tractebel is serving the MPS load (i.e., large customers) at a pass through of the day ahead prices. I'll send in seperate emails the actual filing (including redacted contract) and affidavits covering the auction process and results. -----Original Message----- From: Sullivan, Kathleen Sent: Mon 8/20/2001 4:49 PM To: Llodra, John Cc: Subject: Niagara Mohawk - Electric Commodity Outsourcing Conference Call -----Original Message----- From: [email protected]@ENRON [ mailto:[email protected]] Sent: Friday, July 27, 2001 12:10 PM To: 'William Bouteiller'; 'Robert Garlin'; 'Janet Deixler'; 'Jane Assaf'; 'Gloria Kavanah'; 'Steven Agresta'; Robinson, Thomas G.; 'Joseph Carline'; 'James Peterson'; 'Joseph Cleary'; 'Jim Tripp'; 'Natalie Patisaw'; 'David Wooley'; 'Paul Agresta'; 'Robert Hobday'; 'James Warden'; 'Michael Mager'; 'Robert Loughney'; 'Barbara Brenner'; 'Doreen Saia'; 'Timothy Merril'; 'David Prestemon'; 'Ruben Brown'; 'Sam Laniado'; 'Nicholas Prioletti'; 'Byron Starns'; 'James Bertrand'; 'Steven Pincus'; 'Martha Duggan'; 'George Kazanjian'; Sullivan, Kathleen; 'Matt Picardi'; 'Melissa Lauderdale'; 'Richard Golden'; 'Jeffrey Durocher'; 'William Green'; 'Carl Van Kralingen'; 'Elinor Ducat'; 'Paul Nolan'; 'Sarah Miller'; 'Usher Fogel'; 'Katherine Kennedy'; 'Richard Koda'; 'Chris Wentlent'; 'Chuck Sjoberg'; 'Tom Jesikiewicz'; 'Ben Wiles'; 'Robert Weishaar'; 'Cathy Hughto-Delzer'; 'Frank Miller'; 'Thomas Yurik'; 'Karen Georgenson Gach'; 'Jeffrey Stravino'; 'Glenn Haake'; 'David Johnson'; 'Craig Indyke'; 'Keith Roland'; 'James Fairman'; 'David Koplas'; 'Nancy Cianflone'; 'Catherine Nesser'; 'Jeffrey Genzer'; 'Joshua Sabo'; '[email protected]'; 'Mike Reville'; 'Walter Haase'; 'Michael Darroch'; 'Eli Eilbott'; 'Celeste Smith'; 'Kerin Dumphrey'; 'Carol Smoots'; 'Ilia Levitine'; 'Robert Mullane'; 'Thomas Rudebusch'; 'Robert Ayerst'; 'Ed Frank'; 'John Wicka'; 'Kevin Higgins'; 'Denise Gerbsch'; 'Bob Visalli'; 'Warren Myers'; 'Michael Twergo'; 'David Reulet'; 'Steven Pincus'; 'Lorna Johnson'; 'Jim Peterson'; 'Bob Loughney'; 'Karen Tuczinski'; 'Jeffrey Wagner'; 'Michael Corso'; 'David Wooley'; 'Michael Mager'; 'Whit Russell'; 'Jerrold Oppenheim'; '[email protected]'; 'Theresa Flaim'; 'Gloria Kavanah'; Reilly, Lawrence J.; 'William Glew'; Cochrane, John G.; Fowler, Keith; Lewis Johnson, Sabrina L.; Molloy, James M.; Olton, Laura; Nash, Macdara; Robinson, Thomas G.; 'Stephen Agresta'; Tervo, Judith A.; 'Joseph Ash'; 'William Edwards''; 'Steven Tasker'; 'Sandra Johnson'; 'Scott Leuthauser'; 'Dennis Schafer'; 'Clem Nadeau'; 'Michael Hynes'; 'George Bauman'; Bonner, James J.; Carlton, Jon; '[email protected]'; Conti, Kathleen A.; '[email protected]'; 'Lisa Gast'; 'Bill Mills'; 'Catherin Hedgeman'; 'Jeff Hogan'; 'Doris Stout'; 'Charles Brennan'; 'Cathy Hughto-Delzer'; 'Floyd Hitchcock'; 'Kevin Colwell'; 'Steven Wilson'; 'James Warden'; 'Karen Georgenson Gach'; 'Sarah Miller'; 'Jeff Schnur'; 'Martin Currier'; 'Donald Oliver'; 'Richard Koda'; 'Thomas Primero'; 'Jean McDonnell'; 'Doug Lutzy'; 'Jane Assaf'; 'Richard Golden'; 'Ben Wiles'; 'Nicholas Prioletti'; 'Ruben Brown'; 'Paul Savage'; 'Lyle VanVranken'; 'Michael Salony'; 'Kevin Brocks'; 'Usher Fogel'; 'John Dax'; '[email protected]'; 'Joe Mantaro'; 'Tariq Niazi'; 'Susan Bruce'; 'Barney Farnsworth'; '[email protected]'; 'Michael Cordaro'; 'Nancy Testani'; '[email protected]'; 'Michael Wayand'; '[email protected]'; 'William Saxonis'; [email protected]; [email protected] Cc: [email protected] Subject: PSC Case No. 01-M-0075 - Electric Commodity Outsourcing Conference Call Niagara Mohawk has awarded a contract to Tractebel Energy Marketing Inc. to manage its electric supply contracts for a term ending Dec. 31, 2006. This contract is subject to approval by the PSC(a copy of the petition seeking approval will be provided to the parties when filed with the Commission). A conference call to review and discuss this contract will be held with the parties to the National Grid USA/Niagara Mohawk Merger Proceeding on Monday, July 30, 2001 starting at 10:00 a.m. Scott Leuthauser will go through a presentation which is attached below to be followed by a question and answer period. Also attached below is the Company's press release announcing the agreement with Tractebel. Parties who are interested in learning more about how this agreement relates to the merger proposal are invited to participate in Monday's conference call. Please call the following number at 10:00 a.m: 1-888-876-1197 Passcode: 111680# (See attached file: Tractebel final.doc) (See attached file: Commodity Outsourcing Prez - sdl Jul 27 01.ppt) - Tractebel final.doc <<Tractebel final.doc>> - Commodity Outsourcing Prez - sdl Jul 27 01.ppt <<Commodity Outsourcing Prez - sdl Jul 27 01.ppt>>
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 01/06/2000 03:57 PM --------------------------- Robert Superty 01/06/2000 08:32 AM To: Katherine L Kelly/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, George Smith/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON cc: Heather Choate/HOU/ECT@ECT Subject: Re: Request for Application Report List This is a follow up to the earlier email I forwarded regarding CES historical information. Note the deadline of 1/15, I believe that should be Friday 1/14 so I need your responses by Thursday 1/13. Please fill out the spreadsheet for each area and forward back to me. I will consolidate our responses from a Logistics perspective. Lets have them add everything they need and if challenged we can re-review later. Thanks - Bob ---------------------- Forwarded by Robert Superty/HOU/ECT on 01/06/2000 08:24 AM --------------------------- From: Bryce Baxter 01/05/2000 12:00 PM To: Sheri Thomas/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT cc: Inja Chun/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Tommy J Yanowski/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT, Lawrence R Daze/HOU/ECT@ECT, Pamela Chambers/Corp/Enron@Enron, [email protected] Subject: Re: Request for Application Report List Last month Richard Burchfield sent us the following list of reports that are available from CES's systems. IT is working on a way to secure an electronic copy of the required reports and making them available to us online via the electronic document management system. While ENA is not liable for pre-2000 business, we may need to assist with research as issues arise. In order to get the ball rolling, we need to get a list together of the reports we need. Please fill out the attached spreadsheet and list any reports that you need and return it to me by Friday, 1/15/2000. If you do not want any reports, please send me an Email letting me know that. I have included samples of how to fill this out, and if you have any questions please give me a call. If you aren't sure which reports you need based on the names, please get with any CES employees you have hired or with a CES transition employee to get clarification. If you need samples of any of these reports please let my assistant, Pam Chambers, know and she will coordinate getting a sample report printed for you. In addition, I will need a list of the users and their logonid's who will need to have access to this data. Please send that to me by the 15th as well. Thanks, Bryce Richard Burchfield 12/01/99 04:58 PM To: Sheri Thomas/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Tommy J Yanowski/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT cc: Subject: Re: Request for Application Report List All, Below is attached the report list for CES. Richard ---------------------- Forwarded by Richard Burchfield/HOU/ECT on 12/01/99 03:48 PM --------------------------- [email protected] on 12/01/99 01:25:37 PM To: Richard Burchfield/HOU/ECT@ECT cc: " - Peeples, Jeff" <[email protected]>, " - Licarione, Linda" <[email protected]> Subject: Re: Request for Application Report List Please see the attached for the Altra GMS report listing. Please forward any additional questions relating to Altra GMS to Linda Licarione (713-693-2845) or Jeff Peeples (713-693-2597). Thanks. Linda Licarione 12/01/99 01:04 PM To: Clay Deaton/CES/ColumbiaGas@ColumbiaGas cc: Subject: Request for Application Report List Attached is a list of 210 reports from Altra GMS. Please note that we may not be using all of these reports. If you need me to scale this down to those currently being used, I will need to do a bit of analysis. Many of the base reports, those denoted in the spreadsheet with filename-location (1st column) = master.mdb are not currently being used at CES. Let me know if you have any questions. ---------------------- Forwarded by Linda Licarione/CES/ColumbiaGas on 12/01/99 12:58 PM --------------------------- Clay Deaton 11/30/99 01:27 PM To: Linda Licarione/CES/ColumbiaGas@ColumbiaGas cc: Subject: Request for Application Report List Can you provide me with a complete list of GMS reports? ---------------------- Forwarded by Clay Deaton/CES/ColumbiaGas on 11/30/99 01:26 PM --------------------------- [email protected] on 11/30/99 10:36:11 AM Please respond to [email protected] To: Clay Deaton/CES/ColumbiaGas@COLUMBIAGAS cc: [email protected], [email protected] Subject: Request for Application Report List Clay, I have had several requests from the ENA business groups. now that the agreement has been finalized, for report lists from your key applications, those being, Altra GMS and Risk Works( there may be others as people become more aware). There will be a need for information for ENA to manage contracts as we go through he transition period. We feel this would be an easier process to work through if ENA knows what kind of information they can request as we go through the transition. Thanks, Richard - GMS_ReportListing by Header.xls
Company Sleuth Daily Report =========================== Company Sleuth is a registered trademark of Infonautics, Inc. (Nasdaq: INFO) or its subsidiaries. CompanySleuth has revised its Privacy Policy. Click here http://www.company.sleuth.com/priv-acqui.cfm to view the revised Privacy Policy. Free Daily Emails delivered right to your desktop keep you informed on the latest local breaking business news. Register now to receive you FREE daily email with today's local business headlines. http://L90Dm.com/rdr/707/ This is your Personal Company Sleuth Report for Tuesday December 12, 2000. ---------------------- Your Stakeout Companies ----------------------- Here are the new items Company Sleuth found on your stakeout companies last night. Synagro Technologies Inc. (SYGR) Tech. Trading...................6 To view this company's report, go to: http://www.company.sleuth.com/index.cfm?ticker=SYGR mPhase Technologies, Inc. (XDSL) Raging Bull Msg.................63 To view this company's report, go to: http://www.company.sleuth.com/index.cfm?ticker=XDSL Ames Department Stores (AMES) Tech. Trading...................5 To view this company's report, go to: http://www.company.sleuth.com/index.cfm?ticker=AMES Ameritrade Holding Corp. (AMTD) Raging Bull Msg.................10 Yahoo Msg.......................39 Tech. Trading...................4 News............................3 Rabbitt Ratings.................1 To view this company's report, go to: http://www.company.sleuth.com/index.cfm?ticker=AMTD Best Buy Company, Inc. (BBY) Yahoo Msg.......................37 Motley Fool Msg.................3 Tech. Trading...................5 News............................3 TVAlerts........................4 Rabbitt Ratings.................1 To view this company's report, go to: http://www.company.sleuth.com/index.cfm?ticker=BBY Starnet Comm. Intl., Inc. 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Thanks for your e-mail. We have converted to Outlook on our system would you send me the latest redline we have been discussing as I cannot retrieve it. Also you your changes to 8.2 did not show up if you could let me know your changes here I would appreciate it, and then I thing we are done. Regards, Debra -----Original Message----- From: [email protected]@ENRON [mailto:[email protected]] Sent: Friday, July 13, 2001 5:33 PM To: Perlingiere, Debra Subject: RE: EMBOLI MASTER FIRM PURCHASE/SALE AGREEMENT Debra, Were you going to send executable copies, as duly revised? Sarai Renken Contract Admin. MarkWest Hydrocarbon, Inc. ----- Forwarded by Sarai Renken/Denver/MarkWest on 07/13/2001 04:27 PM ----- Sarai Renken To: [email protected] 06/25/2001 cc: 02:48 PM Subject: RE: EMBOLI MASTER FIRM PURCHASE/SALE AGREEMENT(Document link: Sarai Renken) I like the language with one modification, in red and bold below. Sarai Debra.Perlingiere @enron.com To: IMCEANOTES-SRenken+40markwest+2Ecom+40ENRON@ENRO 06/25/2001 01:50 N.com PM cc: Subject: RE: EMBOLI MASTER FIRM PURCHASE/SALE AGREEMENT Thanks for your e-mail. Here is language I purpose of Article 8.2 8.2. Transfer. This Agreement, including, without limitation, each indemnification, shall inure to and bind the permitted successors and assigns of the Parties; provided, neither Party shall transfer this Agreement without the prior written consent of the other Party which consent shall not be unreasonably withheld or delayed; Notwithstanding the foregoing, either Party may, without the consent of the other Party (and without relieving itself from liability hereunder)but upon written notice, (i) transfer, sell, pledge, encumber or assign this Agreement or the accounts, revenues or proceeds hereof in connection with any financing or other financial arrangements, (ii) transfer or assign this Agreement to any Affiliate by assignment, merger or otherwise, or (iii) transfer or assign this Agreement to any person or entity succeeding to all or substantially all of the assets of such Party; provided that any such succeeding entity or Affiliate meets or exceeds the creditworthiness of the assigning Party and further provided that such succeeding entity or Affiliate agrees in writing to be bound by the terms and conditions hereof. Any Party's transfer in violation of this Section 8.2 shall be void. Let me have your thoughts regarding the attached. -----Original Message----- From: [email protected]@ENRON [mailto:[email protected]] Sent: Monday, June 25, 2001 11:14 AM To: Perlingiere, Debra Subject: RE: EMBOLI MASTER FIRM PURCHASE/SALE AGREEMENT Let's try this with my document actually attached. (See attached file: Enron Master Firm Agreement.doc) ----- Forwarded by Sarai Renken/Denver/MarkWest on 06/25/2001 10:10 AM ----- Sarai Renken To: [email protected] 06/25/2001 cc: 10:12 AM Subject: RE: EMBOLI MASTER FIRM PURCHASE/SALE AGREEMENT(Document link: Sarai Renken) Debra, A few corrections made -- corrected spelling of MarkWest, added company info for exhibits A & C. Still missing the language you wanted to add instead of mine in sect. 8.2, subsections (ii) & (iii). Please see my notes in the document. Once we get the wording agreed upon for these two subsections, we should have an agreement. We'll also need to discuss the GISB, but let's first get the master firm agreement in place. Any questions, please feel free to e-mail me at [email protected] or call me at 303-925-9275. Sarai Debra.Perlingiere @enron.com To: [email protected] 06/21/2001 11:06 m AM cc: Subject: RE: EMBOLI MASTER FIRM PURCHASE/SALE AGREEMENT Sara, Attached I hope, is the correct redline version which exemplifies the agreed to changes. Please review and let me know if there are any additional corrections. (See attached file: Markwest Redline.doc) Debra -----Original Message----- From: [email protected]@ENRON [mailto:[email protected]] Sent: Thursday, June 14, 2001 3:21 PM To: [email protected] Subject: ENFOLIO MASTER FIRM PURCHASE/SALE AGREEMENT (See attached file: Enron Master Firm Agreement.doc) - Enron Master Firm Agreement.doc << File: Enron Master Firm Agreement.doc >>(See attached file: Markwest Redline.doc) - Enron Master Firm Agreement.doc << File: Enron Master Firm Agreement.doc >> - Markwest Redline.doc << File: Markwest Redline.doc >>
Robert, Absolutely. This is a critical situation. Vince Robert Johnston 01/16/2001 08:02 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Scott Tholan/Corp/Enron@Enron Subject: California Power 1/15/01 Vince- Kristin mentioned that you might be interested in receiving our daily updates on the California situation. Hope that you are doing well and let us know if you require any additional information. RJ ---------------------- Forwarded by Robert Johnston/HOU/ECT on 01/16/2001 08:08 AM --------------------------- Robert Johnston 01/15/2001 09:10 PM To: Michelle D Cisneros/HOU/ECT@ECT cc: Gary Hickerson/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Jaime Gualy/NA/Enron@Enron, John Greene/LON/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT, Kristin Walsh/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron Subject: California Power 1/15/01 As talks continued toward the Tuesday deadline markets have been focused on for the California electricity crisis, state officials around Governor Gray Davis have toughened up their rhetoric on a couple of fronts even as they confirmed they would be in the market as early as Tuesday taking bids for energy to be paid by the State of California. One problem on that front is still how much producers want to charge the state for electricity. As we reported last week, Davis and his aides want to pay around $50 to $55 dollars per megawatt hour and suppliers want about $75. Treasury Secretary Summers has suggested an auction as the best way to determine the price, but California officials are taking a less free market approach and still hope to set the price through negotiation over long-term contracts. Our sources in Washington, Sacramento, and California are increasingly of the view that Governor Davis is positioning his government to establish long-term power contracts with the generators that could be passed through to the utilities following a bankruptcy in the near term. This week's legislative activities in Sacramento will create the vehicle to do so. State credit backing purchases of power would obviate the need for super-priority borrowing to finance power purchases after utility bankruptcy. 1. Audit- Untangling Utility Relationships California officials have also toughened their rhetoric on the debt repayment front as they say results from a preliminary audit show that half of the $9 to $12 billion the utilities say they owe is actually owed to themselves for power they bought from their corporate relations This strange situation is due to the fact that one holding company owns both the power-generating and power-distributing companies under a holding company umbrella. Of course, that means that some of the power PG&E and Southern California Edison bought at highly inflated prices was bought from themselves. But it was not all bad news in the tense negotiations. Sources confirm that Davis increasingly understood that the state finance role was a crucial part of any potential solution. He told our sources this afternoon that he is willing to use state credit to eliminate the "risky debt" premium that PG&E and SCE are being charged by suppliers because of their shaky finances and that he is willing to extend the current 10% rate increase utility customers are paying far beyond the initial 90-day deadline. In return he is demanding that the companies prepare to "share the burden of debt reduction in return for state help and credit extension." 2. Debt Restructuring- Guarantees, but No Direct State Money Davis also told the videoconference that he believes the $12 billion in back debt owed by the utility companies can be cleared up during a 90-day forbearance period (whether that period has been agreed to by all creditors is not something we are clear about right now). Davis' idea, as he laid it out in the meeting, is to use the forbearance period to securitize the debts and sell them against the utilities' forward rate base or by establishing a medium-term repayment plan backed by continued state guarantees. In both cases the restructured debt would be resolved over a decade without direct use of taxpayer money as the utilities use their positive margins to paydown their debt. One of the reasons Davis wants to stay close to the $50-$55 megawatt charge is that it maximizes the rate at which utilities can pay down this debt. There is a strong chance that Davis will agree to use state guarantees to sweeten the pot at the end of these negotiations, but he remains opposed to using direct state money. This frustrates both Clinton administration and utility creditors, but Davis has not yet shown much flexibility. 3. Eminent Domain/Reregulation Perhaps most frustrating to the Washington DC free market crowd at Treasury and the White House was the continued comfort Davis and his group of political advisers have with "non-market" solutions to the energy crisis. Although the Governor's aides actually believe the weapon is more a "way to force eventual agreement, than an actual solution," the talk returns frequently to these non-market mechanisms. "We have the ultimate weapon to enforce compliance by the Tuesday deadline. If we make no progress. If this thing looks like it will turn into a genuine crisis, then we will use our powers of condemnation and we will re-take the plants and equipment and run them ourselves," a close political aide to Davis said. "We will absorb the plants, the transmission lines and the reserved parking places of the executives. The legislature would agree in a second."
+ The recent hike in oil prices pushed inflation up to 7.56% in the week ending September 30. + Hyundai Motors India plans to invest an additional $350 million over 3 years to enhance its existing production capacity and launch new models. + The Ministry of Power opposed Enron India's proposal for trading in surplus power. USIBC Daily News October 16, 2000 Agro/Patents/Pharma October 16: U.S.-based Rice Tec Inc withdrew 4 out of 20 claims from its 1997 patent on basmati rice. The Hindustan Times (Print edition only) October 16: The central government sanctioned a $77.7 million relief package for farmers of the north Indian state of Punjab. The Food Corporation of India had earlier decided to suspend procurement of paddy as it found the crop was sub-standard. The Times of India < http://www.timesofindia.com/today/16home3.htm> ?<http://www.hindustantimes.com/> Broadcasting/Entertainment October 16: The Indian government announced that private agencies would start FM radio broadcast on schedule in four major cities. The Times of India < http://www.timesofindia.com/today/16busi13.htm> Communications October 16: Usha Telecom Ltd has decided to pay its entire outstanding cellular-license fees of $70.2 million to the Department of Telecommunications (DoT). This follows Usha Telecom's bid to sell its cellular licenses. The Times of India < http://www.timesofindia.com/today/16busi2.htm> October 16: Southern Railways has completed an optic fiber cable network in Tamil Nadu.? The Financial Express (Print edition only) Economic/General News October 16: The Associated Chambers of Commerce and Industry (Assocham) stated that the slowdown in industrial growth (down to 5.3% during April-August 2000) is expected to continue for the next 6 months. The Financial Express < http://www.financialexpress.com/fe/daily/20001016/fex16035.html> October 16: The recent hike in oil prices pushed inflation up to 7.56% in the week ending September 30, compared to 6.06% in the previous week. This is the first time inflation has risen beyond 7% since the introduction of a new index in April 2000. Business Standard < http://www.business-standard.com/today/economy7.asp?Menu=3> Energy October 16: The National Oil Company of Oman is likely to purchase a 26% equity stake in Bina Refinery of Bharat Petroleum. The Economic Times (Print edition only) Financial: Trade & Investment October 16: CVD International, a U.S.-based entertainment hardware/software development company, is likely to purchase 20% of Hyderabad-based Prathina Video Private Ltd. The Financial Express (Print edition only) October 16: Hyundai Motors India has decided to invest an additional $350 million over 3 years to enhance its existing production capacity and launch new models. The Financial Express < http://www.financialexpress.com/fe/daily/20001016/fco16031.html> Information Technology October 16: Cheecoo Networks announced its partnership with Yahoo-India. Cheecoo Networks has a unique navigation, notification and communication console. Cheecoo Networks will make Yahoo's popular services available to the Internet community through their desktop application. The Financial Express (Print edition only) Insurance and Finance October 16: The government finalized a cabinet note to amend the Banking and Acquisition Act 1969. This will allow the government to reduce its ownership percentage in nationalized banks to 67%. The Financial Express (Print edition only) Political/International October 16: The Ministry of External Affairs confirmed that it received requests from both Israel and the Palestinian National Authority (PNA) for intervening in the West Asia peace process. However, the Indian government offered only humanitarian aid and a general condemnation of the violence. The Times of India (Print edition only) Sanctions Transportation/Infrastructure October 16: The Ministry of Power opposed Enron India's proposal for trading in surplus power. Enron plans to set up a wholly owned subsidiary and invest $50-100 million to market power; including purchase of power from private producers, transmission and distribution companies and state electricity boards. The Foreign Investment Promotion Board (FIPB) has already referred Enron's proposal to the Group of Ministers on foreign direct investment and believes that power trading may be useful in reducing power losses. The Economic Times (Print edition only) October 16: India requires an investment of $65 billion to meet its urban infrastructure needs, according to a paper prepared by the Confederation of Indian Industry (CII). The Times of India ? < http://www.timesofindia.com/today/16busi23.htm> October 16: Indian financial institutions led by Industrial Development Bank of India (IDBI) disbursed over $173 million to PPN, a 330 mw power project based in Tamil Nadu. PPN will receive $73.6 million in rupee-denominated term loans and a foreign currency loan of $93.7 million. The Financial Express < http://www.financialexpress.com/fe/daily/20001016/fex16045.html> ============================================================================== = The USIBC Daily News is a free service of the U.S.-India Business Council to USIBC Members and affiliates. USIBC provides Internet links to news stories for informational purposes only, and makes no representation of the accuracy of information posted on other organizations' websites.? To add or remove your name from this list, or with questions or comments, please contact USIBC via e-mail at [email protected] <mailto:[email protected]>. U.S.-India Business Council Website: <http://www.usibc.com> 1615 H Street NW Washington DC 20062-2000 Phone 202 463 5492 Fax 202 463 3173 West Coast 477 Ninth Avenue, Suite 107 San Mateo, CA 94402 Phone 650 685 8790 xt. 16 Fax 650 343 2848
Picture didn't come through. Sounds nice. Is there somewhere on the web I can see it. Chris -----Original Message----- From: "Varsity Ecommerce" <[email protected]>@ENRON Sent: Thursday, September 27, 2001 3:48 PM To: Dorland, Chris Subject: Re: Grand Cherokee Did the picture not come through as an attachment in my last email? I'll attach it again and hopefully you will be able to see it this time. If not, it is the 60th Anniversary Limited - black exterior with the taupe and agate interior...I thought it would be a good match for you and there are only a few around and they are gorgeous. Dwayne ----- Original Message ----- From: <[email protected]> To: <[email protected]> Sent: Monday, August 27, 2001 2:39 PM Subject: RE: Grand Cherokee > Do you have a black one in stock? If so, what color interior? > > Chris > > -----Original Message----- > From: "Varsity Ecommerce" <[email protected]>@ENRON > Sent: Thursday, September 27, 2001 3:37 PM > To: Dorland, Chris > Subject: Re: Grand Cherokee > > Hi Chris, > > So you like black? Oddly enough that was the one I was thinking of > too... > > Here's a picture...What do you think? > > By the way, I will be here on the 6th and 7th, so I will see you then. > > Take care, > Dwayne > ----- Original Message ----- > From: <[email protected]> > To: <[email protected]> > Sent: Monday, August 27, 2001 2:18 PM > Subject: RE: Grand Cherokee > > > > The colors that interest me most are black, silver, white, burgundy > and > > champagne. I will be in Calgary on Sept. 6/7 and I will give you a > call. > > Are you going to be in the office on those days? > > > > Chris Dorland > > > > -----Original Message----- > > From: "Varsity Ecommerce" <[email protected]>@ENRON > > Sent: Friday, August 24, 2001 11:48 AM > > To: Dorland, Chris > > Subject: Re: Grand Cherokee > > > > Hi Chris, > > > > I don't honestly know how long they will be available as our first > 2002 > > arrived on Monday, so that would suggest that we aren't receiving > any > > more > > 2001 models. There are still several available, but if we didn't > have > > your > > 2001 in stock, I would locate it at another dealer and bring it in > for > > the > > same price. > > > > The next step might also be to give me your top choices for colours > so > I > > can > > keep an eye out for you. > > > > By the way, my work number is 730-4000, or toll-free > 1-866-881-1888. > > > > Take care, > > Dwayne > > > > > > > > > > ----- Original Message ----- > > From: <[email protected]> > > To: <[email protected]> > > Sent: Friday, August 24, 2001 10:41 AM > > Subject: RE: Grand Cherokee > > > > > > > Thank you very much. How long would it take to get something like > this > > in? > > > I will be in Calgary on Sept. 6/7 and will come by and see you. > Could > > you > > > e-mail me your work phone number. > > > > > > Thanx > > > > > > Chris Dorland > > > > > > -----Original Message----- > > > From: "Varsity Ecommerce" <[email protected]>@ENRON > > > Sent: Friday, August 24, 2001 11:25 AM > > > To: Dorland, Chris > > > Subject: Re: Grand Cherokee > > > > > > Hi Chris, > > > > > > I am attaching the breakdown on a Grand Cherokee that matches > your > > > request > > > as closely as possible. > > > > > > The MSRP on the unit is $51,570 with pretty well every > conceivable > > > option - > > > I can get you this Grand Cherokee for the cash price of > $45,188 > > > including > > > rebates. > > > > > > Take a look at the attachment and let me know if you have any > > questions > > > or > > > comments. > > > > > > Have a great day, > > > > > > Dwayne > > > > > > - Chris.RTF << File: Chris.RTF >> > > > > > > > > > > > > > ******************************************************************** > > > This e-mail is the property of Enron Corp. and/or its relevant > > affiliate > > and may contain confidential and privileged material for the sole > use > of > > the > > intended recipient (s). Any review, use, distribution or disclosure > by > > others is strictly prohibited. If you are not the intended > recipient > (or > > authorized to receive for the recipient), please contact the sender > or > > reply > > to Enron Corp. at [email protected] and > delete > > all > > copies of the message. This e-mail (and any attachments hereto) are > not > > intended to be an offer (or an acceptance) and do not create or > evidence > > a > > binding and enforceable contract between Enron Corp. (or any of its > > affiliates) and the intended recipient or any other party, and may > not > > be > > relied on by anyone as the basis of a contract by estoppel or > otherwise. > > Thank you. > > > > ******************************************************************** > > > > > > > > > - 60thAnniversaryGC.jpg << File: 60thAnniversaryGC.jpg >> > - 60thAnniversaryGC1.jpg << File: 60thAnniversaryGC1.jpg >>
Aslo, a few links are below. From BusinessWeek in 1997 http://www.businessweek.com/1997/30/b353757.htm COMMENTARY: IN THE NEW ECONOMY, THE OLD RULES STILL LIVE These are tough times for traditional inflation theory. A soaring U.S. economy, fueled by the forces of globalization and technology, has pushed joblessness down to levels not seen in decades. But consumer inflation remains tame, and producer prices are actually falling. Convinced that the New Economy can continue along this course, investors have bid the stock market to new highs. But there's a more classical view of the economy that still should be heeded. Virtually all mainstream economists say it's too early to scrap economic theories that for decades have reliably predicted inflation. Ignoring these basics is especially risky in a high-flying financial climate that is sensitive to Federal Reserve policy decisions. INFLATION AND JOBS. First, a review of the Econ 101 lectures you may have slept through. The topic: Phillips curve theory and the concept of NAIRU, a clunky acronym for ''non-accelerating-inflation rate of unemployment.'' Together, these relate joblessness and inflation--NAIRU being the jobless rate at which inflation is stable. The Phillips curve/NAIRU model suggests that inflation is caused by excess demand--demand beyond what available workers and machines can satisfy. The excess occurs when the jobless rate dips below NAIRU, causing wages and inflation to accelerate. But the process doesn't end there. Higher inflation reduces demand and labor markets readjust, pushing joblessness back to the NAIRU level. But the inflation persists at the higher level, partly because people adjust to it. Despite the current, unusual situation of low unemployment and low inflation, the old model is alive and well among economists--and at the Fed. ''I am a strong and unapologetic proponent of the Phillips curve and the NAIRU concept,'' says Federal Reserve Governor Laurence H. Meyer. Chairman Alan Greenspan, warming to the New Economy, is less enamored. But he appreciates the model's solid track record. The Phillips/NAIRU model has practical limitations. But understanding those limits doesn't mean junking the theory. The model can still work, but it's crucial to peg the level of NAIRU--a moving target. Before globalization and technology pushed NAIRU below 6% a few years ago, the model had a two-decade run as one of forecasters' best-performing tools. Now NAIRU may be even lower than the generally accepted range of 5 1/2% to 5 3/4%. It can take a year or more for inflation to pick up after a gap opens between the unemployment rate and NAIRU. That's why the Fed's experiment to test the economy's inflationary limit is dangerous. The wider the gap, the more inflation will rise--and it will not fall until the jobless rate exceeds NAIRU. That is, until the Fed steps in to clamp down on the economy, thus throwing a lot of people out of work. ECONOMIC WINDFALLS. Another consideration: The Phillips/NAIRU model cannot reflect good economic luck, and this U.S. business cycle has had more than its share: falling oil prices, a stronger dollar, and weaker growth among overseas competitors. Also, a slowdown in benefit expenditures has curbed labor costs, even as wage growth has picked up--as the model predicts. Right now, the model does not forecast any strong pickup in inflation. But for every half point the jobless rate stays below NAIRU for a year, inflation will accelerate by a quarter point. And a stronger second half could send the unemployment rate even lower. That's great--if you're seeking employment. But traditional inflation theory says that, if the Fed's current gamble with tight job markets fails, the costs of excess demand now will be foregone output and income later on. Even in the New Economy, the old approach to gauging future inflation should scarcely be ignored--it should be embraced. By James C. Cooper Updated July 17, 1997 by bwwebmaster Copyright 1997, by The McGraw-Hill Companies Inc. All rights reserved. Terms of Use LINKS I) My colleague Brad DeLong has a nice multimedia demonstration. Check out his site, being sure to let pages run for a minute or 2: http://econ161.berkeley.edu/multimedia/PCurve1.html II) A British on-line model of the economy has two articles / sub-sites: 1. Unemployment Theories - Phillips Curve - Is unemployment inflated? http://bized.ac.uk/virtual/economy/policy/outcomes/unemployment/unempth4.htm and 2. Inflation Worksheet - The Phillips Curve - Trading off unemployment and inflation http://bized.ac.uk/virtual/economy/policy/outcomes/inflation/inflws2.htm III) Nouriel Roubini has an overview article and additional links to the current debate on NAIRU and limits to growth at http://equity.stern.nyu.edu/~nroubini/NAIRU.HTM David I. Levine Associate professor Haas School of Business ph: 510/642-1697 University of California fax: 510/643-1420 Berkeley CA 94720-1900 email: [email protected] http://web.haas.berkeley.edu/www/levine/
Yes we do want to renew the option through September of next year and we will need to persuade them to lower the option premium. Her is a thought: the land fill closure cost is approximately $2.9 million. Could we create a new option agreement that states that the strike price is $4.2 million ($1.3 the original strike price plus the cost of land fill closure cost) so we could pay an option premium of up to $210,000 (5% of $4.2 million). At closing, we reduce the purchase price by the costs yet to be incurred in the closing the land fill. Since Certosa Holdings will not start the closure until they are assured that we will exercise the option if even then, the net cost to us would drop back to the original strike price. Could we get this past the accountants? Only the memorandum of option was recorded. -----Original Message----- From: Mann, Kay Sent: Wednesday, May 23, 2001 4:40 PM To: Krause, Greg Cc: Carnahan, Kathleen Subject: RE: AEW's backup I've skimmed it. I see that the option expires August 9th. Are we planning to renew it? If so maybe we can renew early and fix what we can to preserve some optionality (no pun intended) and cover the fee issue. Might take too long to address the immediate issue. I don't see anyway we can get around the balance sheet issue unless we let the option expire and then reoption, but in that case the option payment would have to be smaller (acct says an option of 5% creates a problem as it would be considered a down payment). Just fyi. Kathleen, was the option recorded, or just a memo of option, or neither? I'm just wondering what is public info. Herman is out of the office today, but I can discuss the fee issue to get his vote. More to come... ckm From: Greg Krause/ENRON@enronXgate on 05/23/2001 02:19 PM To: Kay Mann/Corp/Enron@Enron cc: Subject: RE: AEW's backup I think the invoice was for between $20,000 and $30,000, but I can't remember. AEW has the invoice. This probably will not be the final as we will need to work with them in discussions with DERM on delaying the landfill closure and in moving jurisdiction of the project from CZAB to the County Commissioners. I think Shutts & Bowen (who may get stiffed by their client if this deal blows up) and Certosa Holdings would be open to any suggestions and we need to renegotiate the option anyway. Shall I call and suggest this this flat fee for retooling the option agreement to them or shall we do it together? I,m not sure I could explain to them acequately the idiosyncrasies of our accounting requirements. -----Original Message----- From: Mann, Kay Sent: Wednesday, May 23, 2001 2:00 PM To: Krause, Greg Subject: RE: AEW's backup How much is it and should this be the final amount? One thought I have is that maybe we can retool the option agreement so that we pay them a flat fee, which is enough to cover the expenditures. Don't know if this works, but it is one thought. What do you think? Kay From: Greg Krause/ENRON@enronXgate on 05/23/2001 01:50 PM To: Kay Mann/Corp/Enron@Enron cc: Subject: RE: AEW's backup One more thing on the SDEC project: According to the option agreement we executed last October, we agreed to reimburse Certosa Holdings for actual third party costs that they incurred in support of our necessary applications, submittals and in seeking local approval. Several weeks ago, we recieved an invoice from Shutts & Bowen, attorney for Certosa Holdings requesting reimbursement pursuant to the contract. I forwarded this invoice on th Ann Elizabeth not necessarily to pay for but to review considering this whole soft cost hard cost discussion. I recieved another call this morning from Shutts & Bowen asking about the invoice. What should I do? -----Original Message----- From: Mann, Kay Sent: Wednesday, May 23, 2001 11:03 AM To: Krause, Greg Subject: RE: AEW's backup Greg, You can call me on whatever you have, including Midway, SDEC and Medley Dunn. If I have a problem getting to something, I'll find help. Kay From: Greg Krause/ENRON@enronXgate on 05/23/2001 10:50 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: RE: AEW's backup Kay, Ann Elizabeth did not provide a designated hitter for the South Dade Energy Center (Dade Development Company LLC is Optionee, Certosa Holdings is Optionor) nor did she provide one for tne Medley Dunn project. I have been told that the Dunns are considering backing off their ultimatums that they gave Ann Elizabeth and I regarding taxes to the town and assumption of enviromental liability. Who do I talk to about the Dunn contract while Ann Elizabeth is out? -----Original Message----- From: White, Ann Elizabeth Sent: Tuesday, May 22, 2001 10:33 PM To: [email protected]; Krimsky, Steven; Ben Jacoby/HOU/ECT@ENRON; Carnahan, Kathleen Cc: Milligan, Taffy Subject: AEW's backup Kay Mann is the designated hitter for the Pompano and Deerfied projects while I'm on vacation. I've given her a down load of the status of Greg and Steve's projects. Chris Boehler at A&K will be the designated hitter for Midway. I'm not going to check my voice mail while I'm gone but, if necessary, here are the contact numbers while I'm gone. Walter and Marlena Schilling 011-49-8218-89351 [email protected] Monika and Bernhard Steinacher 011-49-8232-8932 [email protected] If you call, Walter and Bernhard and Bernhard's daughter, Susanne, speak very good English. Monika's isn't bad. Marlena may get flustered and hang up on you. Best of luck at Deerfield and hope to see Pompano on track when I get back in the office on June 11th. Kay is planning on going to Florida on June 12 for the moratorium hearing and the rezoning hearing.
-----Original Message----- From: Terry Myers Sent: Tuesday, July 18, 2000 9:33 AM To: Ted Bockius Subject: FW: Bobby Riggins -----Original Message----- From: ? Cumings, Cindy [mailto:[email protected]] Sent:?? Tuesday, July 18, 2000 9:32 AM To:???? Cornell, Amy; Riley, Natalie; Famolare, Michael; Kishbaugh, Jann; 'Sharon Brass'; 'Sharon Fothergill'; Hawkinson, Carol; Gonzales, Rosario; Ferrar, Brian; '[email protected]'; '[email protected]'; Ross, Donna Cc:???? Moore, Kathleen (ESD) Subject:??????? RE: Bobby Riggins Bobby can have visitors (no flowers or balloons though) during these times: * 10:00 - 10:30 * 1:00 - 1:30 * 7:00 - 7:30 Kathleen Moore and I are going to see him today at 1:00.? If you would like to send get well wishes to him, email me by 12:00 today and I will print off your email and take it to him.? Thanks, Cindy Cumings eMarketing Manager GVC Compaq Computer Corporation (281) 518-7762 [email protected] Visit the GVC Inline site at <http://nonstop.inet.cpqcorp.net/easupport> ? -----Original Message----- From:?? Ross, Donna Sent:?? Monday, July 17, 2000 7:17 PM To:???? James, Katherine; Cranford, Lynn; Rowsey, Michele; Doan, Kathy; ??????? Hawkinson, Carol; '[email protected]'; '[email protected]'; ??????? Duelm, Brian Subject:??????? RE: Bobby Riggins bike accident news An update note from Ellen Chadick with contact info on which hospital Bobby is in. --------------------------------------- All Saym was just telling me that Bobby was in a serious cycling accident this weekend. He was part of a pack of riders, on the feeder.? A car came off the fwy, plowed into 6 of them.? One was killed.? Bobby is in Neuro Intensive Care, Ben Taub.? Both ankles crushed, punctured lung, crushed vertebrae, no paralysis tho.? 10 hours of surgery.? Keep him in your thoughts and prayers. Please pass the word to anyone I've missed. Ellen (Thanks, Saym, for letting me know.)? -----Original Message----- ??????? From:?? James, Katherine ??????? Sent:?? Monday, July 17, 2000 5:05 PM ??????? To:???? Cranford, Lynn; Rowsey, Michele; Levy, Saym; Doan, Kathy; ??????? Ross, Donna; Hawkinson, Carol; '[email protected]'; ??????? '[email protected]'; Duelm, Brian ??????? Subject:??????? Bobby Riggins bike accident news Got a brief update.? Bobby has some crushed vertebrae in his lower spine.? There doesn't appear to be any paralysis which is good.? His right ankle was shattered and his left ankle was pretty bad too.? Both lungs were crushed.? His surgery yesterday was spine and ankle related I think.? Ten hours worth.? He was not life flighted, but Tim and Barbara were.? Tim's right leg is shattered/crushed, his pelvis is broken and his collar bone may be broken.? Tim has more surgery today.? Don't have any news on Barbara since I don't know her.? They were riding on the 290 feeder road eastbound, very near the end of the ride.? A large pick up style truck apparently exited the freeway and hit them all from behind.? The guy I talked with was going to the hospitals this afternoon and was going to call me later with more.? Yes, Bobby on Saturday was himself somewhat - he apparently was asking about his bike and water bottles!!!!? I'm sure he's thinking he'll go running this weekend at the park! > ????? ??????? From:?? Gonzales, Rosario > ????? ??????? Sent:?? Monday, July 17, 2000 11:39 AM > ????? ??????? To:???? Cartwright ALL > ????? ??????? Subject:??????? Bobby Riggins > > ????? ??????? Jann, phoned this morning and asked me to pass this > information to the group, concerning Bobby Riggins. > > ????? ??????? Bobby is a member of a bicycle team, while cycling this > weekend, he and other members of his team were injured by a truck.? There > was one death in the injured group and the others with major injuries. > Bobby is one of those with major injuries.? He is currently in the > emergency room at Ben Taub Hospital.? Ben Taub hospital is located at 1504 > Taub Loop, Houston, Texas, phone number: 713-793-2000.? He cannot accept > calls, visits or flowers at this time, since he is in the emergency room. > An update will be e-mailed, as soon as one is available. > > ????? ??????? Keep Bobby, his team members and their families in your > prayers. > > ????? ??????? Rosario Gonzales > ????? ??????? Administrative Assistant > ????? ??????? ESSG > ????? ??????? CCA-15, 150301, 153B09 > ????? ??????? 281-514-3183 > ????? ??????? [email protected] > -----Original Message----- From:?? Fisher, Jeff Sent:?? Monday, July 17, 2000 11:38 AM To:???? 'Jonathan Meltzer'; Berry, Mark; Yanacek, Rich; Newcomer, Tom; ??????? Jones, Chris (Fitness) Subject:??????? RE: bike accident news Got a brief update.? Bobby has some crushed vertebrae in his lower spine.? There doesn't appear to be any paralysis which is good.? His right ankle was shattered and his left ankle was pretty bad too.? Both lungs were crushed.? His surgery yesterday was spine and ankle related I think.? Ten hours worth.? He was not life flighted, but Tim and Barbara were.? Tim's right leg is shattered/crushed, his pelvis is broken and his collar bone may be broken.? Tim has more surgery today.? Don't have any news on Barbara since I don't know her.? They were riding on the 290 feeder road eastbound, very near the end of the ride.? A large pick up style truck apparently exited the freeway and hit them all from behind.? The guy I talked with was going to the hospitals this afternoon and was going to call me later with more.? Yes, Bobby on Saturday was himself somewhat - he apparently was asking about his bike and water bottles!!!!? I'm sure he's thinking he'll go running this weekend at the park!
Maybe he's my long lost granddad! DF Jeffery Fawcett 02/29/2000 10:15 AM To: Drew Fossum/ET&S/Enron@ENRON cc: Subject: California Storage Jim Fossum is about a hundred years old. He's been employed by nearly every storage developer operating in the state. We knew him back in the early 90's (that's 1990's) when he was trying to sell the "Ten Section" project to Mojave Pipeline. The Ten Section is the project referred to in the press clipping near Bakersfield, CA. Their other project ("Lodi") is in direct competition with the "Wild Goose" storage project near Sacramento. From: Drew Fossum 02/29/2000 10:01 AM To: Lorna Brennan/ET&S/Enron@ENRON cc: Steven Harris/ET&S/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Christine Stokes/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON Subject: Re: California Storage No, not that I know of. I've never met the western Fossum, but I do know the guys who own Western Hub pretty well--John Strom and Larry Bickle. If we have any interest in this project or other merchant storage in California, these are the guys to deal with as they have mapped about 90% of the state looking for salt or other storage plays. ET & S Business Intelligence From: Lorna Brennan on 02/28/2000 02:50 PM To: Drew Fossum/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Christine Stokes/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON cc: Subject: California Storage Drew, a relative of yours? CA Merchant Storage Plant Passes Major Test California regulators Thursday released a final environmental impact report for the state's second merchant underground natural gas storage project in the Sacramento Valley of northern California. Absent new opposition from surrounding landowners, Texas-based Western Hub Properties hopes to have its $80 million storage project operating by the end of this year, following a year's delay in the approval process for environmental review. Western Hub is also pursuing a similar-sized underground storage project in Texas and it has identified a site for a second California storage operation in the Bakersfield area, according to Jim Fossum, Western's California operations manager. Final approval of the Lodi Gas Storage Project located south of Sacramento should come in May, Fossum said, meaning that construction could begin this summer and be operational before the end of the year. "We see the environmental report as the 'light at the end of the tunnel'," Fossum said. Under California's environmental review process (CEQA), the California Public Utilities Commission (CPUC) prepared a draft environmental report (EIR) identifying the project's environmental impacts and mitigation measures. The draft then was circulated to appropriate public agencies and the general public for comment before the final report can be issued. Three public hearings on the draft report were held by the CPUC last October. Under the CPUC's procedures, a proposed decision from the administrative law judge for the case is due by mid-March, after which there is a 30-day period before the project can come before the five-member commission for a final decision, a CPUC spokesperson said. "We hope to be on-line, and that is 'hope', this year because we already have our compressors and pipe, so it is just a matter of getting crews there and that can go pretty quickly," Fossum said. "In the best of all worlds it would be this year; in the worst case, it would be a year from now." Western Hub has some of its customers lined up, and it is in current discussions with others, said Fossum, declining for competitive reasons to even identify the types of customers, although they are expected to be large shippers, marketers, power plant operators and other large industrial customers. The Lodi project is designed for full operation as having a 12 Bcf working capacity, with 400 MMcf/d injection and 500 MMcf/d withdrawal capacities. It will be connected to Pacific Gas and Electric Co.'s backbone transmission system through a 35-mile pipeline consisting of three miles of 30-inch-diameter and 32 miles of 24-inch-diameter pipe. During the past year's delay in start-up, Western has "moved the pipeline around a bit, but not a whole lot," Fossum said. "to make accommodations to nearby farmers." Western Hub's similar-sized Texas project is south of San Antonio and would be connected with three natural gas transmission systems in the area: Houston Pipeline, PG&E --- Texas (bought recently by El Paso) and the City of San Antonio. "We expect to have it on-line the same time as Lodi," Fossum said. Fossum said Western is "moving ahead" with a second California site in the Bakersfield area, but he declined to give any further details, noting Western Hub expects to have more definitive information next month. He did say that if a second California project moves ahead, Western expects to have it operational by early 2002. Unlike northern California, storage in the Bakersfield area would not have to connect with the local utility transmission system of Southern California Gas. The combined Kern River/ Mojave interstate pipeline also comes into the area.
----- Forwarded by David M Gagliardi/TTG/HouInd on 06/04/01 10:03 AM ----- "Michael Gagliardi" To: <[email protected]>, [email protected], <mikegag@msn. [email protected] com> cc: Subject: Fw: True Orange E-Mail/Fax #57 06/04/01 09:41 AM ----- Original Message ----- From: [email protected] Sent: Sunday, June 03, 2001 11:24 PM To: [email protected] Subject: True Orange E-Mail/Fax #57 True Orange E-Mail/Fax Service Volume 9, Fax/E-Mail #57, Sunday, June 3, 2001 Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 - Phone 512-795-8536 DT Lyle Sendlein Commits to Longhorns Lyle Sendlein says he has known since he was a small child that he wanted to play football at Texas, so he said a new NCAA rule interpretation that prohibits recruits committing while at a summer camp was no problem at all. "The mini-camp was today (Sunday), so I just called them Saturday and committed," he said. "When they told me about the new rule, I just decided to take care of it in advance. I knew I was going to play for the Longhorns, so I didn't have any problem committing before I got here for the camp." Sendlein was being recruited by all the top schools in the Pac 10, plus Notre Dame, Nebraska, Michigan and Penn State. Coach Mack Brown said one of the Longhorns' top recruiting goals this year was to sign several top defensive linemen, and, while he can't comment on individual recruits, Sendlein is an outstanding defensive line prospect. Sendlein said he was measured at the camp and came in at a shade over 6-4, and he said he weighed in at 263. He also said he clocked a 5.0 in the 40, "but it seemed like the times were all a little slow. I usually run 4.8 or 4.9." He is quick enough that he plays middle linebacker for Scottsdale Chaparral, the Arizona big school state champion two years running after going 14-0 in 1999 and 2000. Sendlein brings to four the number of early commitments. DT Sonny Davis, who committed to Texas right out of Austin Lanier, is in junior college in Mississippi and says he still plans to come to Texas when he graduates from the JC. That would put him on schedule to come in with next February's signees. OL Brett Valdez of Brownwood and DT Earl Anderson of San Marcos, two of the state's top prospects, also have committed to Texas. The Longhorns plan to sign only three offensive linemen and Valdez was the first one they offered. They hope to get the other two from a threesome that includes Jeff Lebby of Andrews, Tony Ugoh of Houston Westfield and Justin Blaylock of Plano East. Lebby and Blaylock attended Sunday's UT mini-camp. Anderson is No. 3 and Valdez is No. 23 on my 25-man "difference-maker" list. Davis was in my top five his senior year and Sendlein would be in my top 10 this year if he played in Texas. In other words, this is a great quartet to start the UT recruiting bandwagon rolling. DT Rodrique Wright of Alief Hastings, DE Travis Leitko of The Woodlands and WR Anthony Wright of Klein Forest, the top players in the state at their respective positions, also attended the UT mini-camp Sunday. I talked to all of them tonight and they all like Texas, but they also are considering several other schools and all three said they probably will not commit to anyone this summer. I like the Longhorns chances with both Wrights, but I think Leitko is so wide open that he could wind up at any of the five schools he is considering (UT, A&M, Stanford, Michigan and Notre Dame). Texas A&M also had a mini-camp Sunday and Aggie reporters were saying no one at the camp was likely to get an offer at this point, so it would appear that the cream of the state's recruiting crop showed up in Austin. I know Leitko, Lebby, Blaylock, and both Wrights had offers from Texas before they came to the camp Sunday. * * * * The NCAA edict that prevents recruits from accepting scholarships while at a summer camp is strange because there are no new rules relating to camps. It seems that some NCAA bureaucrat just gave a new interpretation based on a rule that that has been around for several years. * * * * FOOTBALL NOTES: Lindy's, the first reputable national college football magazine I have seen this year, picks Chris Simms as the third best QB in the country and the best one in the Big 12. If he lives up to that hype, I think we can all buy our plane tickets to Pasadena. With the receivers the Longhorns have in stock, a great quarterback would make the Texas offense too tough to handle by anyone on the schedule. To reach that level, Simms will need to be much improved at looking off his receivers and much better at throwing the ball away at times instead of forcing it into double coverage. . . Super RB recruit Cedric Benson of Midland Lee is already in Austin working out and getting ready for the season. * * * * My next e-mail/fax will be whenever events warrant. * * * * The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes 26 newsletters and is published weekly during football season and twice monthly during most of the other months. It costs $45. Save by subscribing to both for $130 (or $110 if you take the faxes via E-Mail or $99 if you take the faxes and newsletter via E-Mail). Send check to address at the top of page. I also update my 900 number ? 1-900-288-8839 ? frequently with recruiting news. My E-Mail address is: [email protected]. Get your FREE download of MSN Explorer at http://explorer.msn.com
----- Forwarded by Jeff Dasovich/NA/Enron on 03/14/2001 04:53 PM ----- Jean Munoz <[email protected]> 03/14/2001 03:44 PM To: Katie Kaplan <[email protected]>, "'Andy Brown (E-mail)'" <[email protected]>, "'B Brown Andy (E-mail)'" <[email protected]>, "'Baker Carolyn (E-mail)'" <[email protected]>, "'Bob Escalante (E-mail)'" <[email protected]>, "'Bob Weisenmiller (E-mail)'" <[email protected]>, "'Curtis Kebler (E-mail)'" <[email protected]>, "'Douglas Kerner (E-mail)'" <[email protected]>, "'Greg Blue (E-mail)'" <[email protected]>, "'Jan Smutny-Jones (E-mail)'" <[email protected]>, "'Jeff Dasovich (E-mail)'" <[email protected]>, "'Joe Ronan (E-mail)'" <[email protected]>, "'John Larrea (E-mail)'" <[email protected]>, "'John Stout (E-mail)'" <[email protected]>, "'Julee Malinowski-Ball (E-mail)'" <[email protected]>, "'Kassandra Gough (E-mail)'" <[email protected]>, "'kent Palmerton (E-mail)'" <[email protected]>, "'Kristin Vellandi (E-mail)'" <[email protected]>, "'Lynn Lednicky (E-mail)'" <[email protected]>, "'Marty Wilson (E-mail)'" <[email protected]>, "'McNally Ray (E-mail)'" <[email protected]>, "''Nam Nguyen' (E-mail)'" <[email protected]>, "'Norton Kelli (E-mail)'" <[email protected]>, "'Paula Hall-Collins (E-mail)'" <[email protected]>, "'Pigott Jack (E-mail)'" <[email protected]>, "'Richard Hyde (E-mail)'" <[email protected]>, "'Rob Lamkin (E-mail)'" <[email protected]>, "'Roger Pelote (E-mail)'" <[email protected]>, "'Stephanie-Newell (E-mail)'" <[email protected]>, "'Sue Mara (E-mail)'" <[email protected]>, "'Theo Pahos (E-mail)'" <[email protected]>, "'Tom Ross (E-mail)'" <[email protected]>, "Carol H Hudson (E-mail)" <[email protected]>, steven kelly <[email protected]>, "'Anne Kelly (E-mail)'" <[email protected]>, "'Chuck Cole (E-mail)'" <[email protected]>, "'Delany Hunter (E-mail)'" <[email protected]>, "'DJ Smith (E-mail)'" <[email protected]>, "'Hedy Govenar (E-mail)'" <[email protected]>, <[email protected]>, "'Maureen OHaren (E-mail)'" <[email protected]>, "'Mike Monagan (E-mail)'" <[email protected]>, "'Phil Isenberg (E-mail)'" <[email protected]>, "'Robert Ross (E-mail)'" <[email protected]>, "'Ron Tom (E-mail)'" <[email protected]>, "'Scott Govenar (E-mail)'" <[email protected]>, "'Susan Mccabe (E-mail)'" <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]> cc: Subject: IEP responds to Burton/Dunn investigation on market manipulation As you know, ?Senator Burton held a press conference announcing Joe Dunn chair of new senate committee to investigate energy market manipulation in the wholesale energy market. ?Other members serving on the committee include: ?Debra Bowen, Martha Escutia, Maurice Johannessen, Sheila Kuehl, Bill Morrow and Byron Sher. The Committee's information gathering activities will begin immediately, and the first hearing of the committee is planned for the first week in April. (press release attached) IEP responded with the following statement, and Jan responded to TV, Radio and Print media immediately following the news conference at the state capitol. Thanks, Jean -- Jean Munoz McNally Temple Associates, Inc. 916-447-8186 916-447-6326 (fx) ______________________________________________________________________________ _____________ Contact: ?Jean Munoz ??????????????????????????????????????????????????????FOR IMMEDIATE RELEASE ????????????????916-447-8186 ??????????????????????????????????????????????????March 14, 2001 Statement by Jan Smutny-Jones, Executive Director of Independent Energy Producers, in Response to State Senate Energy Probe "We understand that it is the responsibility of the legislature to ensure that California ratepayers are protected . and we will fully cooperate, as we have with other investigations, because we have nothing to hide. "We believe this investigation will find nothing except that power producers have been working around-the-clock to help keep the lights on in California. ?In fact, there have already been several investigations by the Federal Energy Regulatory Commission the Public Utilities Commission and the California Independent System Operator . and they have found no evidence of withholding or wrong doing. "As we have continued to state: the industry does not condone business practices that lead to unreasonable prices. ?It is our objective to help create a stable regulatory environment in which robust retail markets can flourish to protect ratepayers. "This crisis can only be resolved if we all work together to find solutions and stop pointing fingers, which only creates an unstable political and regulatory environment which will do nothing to increase supply or reduce demand in California. "If this turns into, in fact, a @witch-hunt? against generators who have been providing electricity to California for months despite being owed billions of dollars, my only question is who in their right mind would come to California and invest in building new power plants? ?This sends a dangerous and chilling signal to not only power providers, but anyone doing business or planning to do business in California." # ????????# ???????# - Burton Press Release
That's fine. I didn't want to change anything until I heard from you guys. See ya! John At 11:06 AM 11/28/00 -0600, you wrote: > >John, > >Thanks. Stinson will be able to join us for dinner. He is opting out of >the paper due to his big workload but we can get his perspective on >the last 8 years he spent at Enron. > >Vince > > > > > >"John D. Martin" <[email protected]> on 11/28/2000 09:44:17 AM > >To: [email protected] >cc: >Subject: 2001 FMA European Conference > > >Here's the info on the European conference. Just for your files. > >John > >>Date: Tue, 28 Nov 2000 08:40:39 -0500 >>From: Karen Wright <[email protected]> >>Subject: 2001 FMA European Conference >>To: [email protected] >>X-Mailer: Mozilla 4.5 [en] (Win98; I) >>X-Accept-Language: en,pdf >> >>2001 FMA European Conference >> >>The Fifth Annual European Meeting of the Financial Management >>Association International (FMA) will be held May 31 and June 1, 2001 at >>the Hotel Sofitel (Rive Gauche) in Paris, France. FMA's European >>Meeting brings together academicians and practitioners with interests in >>financial decision-making. The meeting provides a forum for presenting >>new research and discussing current issues in financial management, >>investments, financial markets and institutions, and related topics. >>Keynote addresses and other special presentations will be held in >>addition to research paper presentations. >> >>Paper Submissions >>Research Papers. The program includes traditional research paper >>presentations. Criteria used to determine the suitability of these >>papers for the program include the nature of the research problem, >>implications of the proposed research, the quality of the research >>design, and the expected contribution of the research to the >>literature. Please note that the purpose of these sessions is to >>present new and unpublished research. >> >>Submission Fee. There is no submission fee for the FMA European >>Conference. >> >>Submissions. Please follow these steps: >>Complete the Presentation Form that can be downloaded at >>www.fma.org/paris.htm. Carefully select the subject code on the >>Presentation Form that most closely describes your research. The code >>number you select will be used to select reviewers for your proposal. >> >>Send six (6) copies of your completed paper, along with the completed >>Presentation Form, to the FMA office (Financial Management Association, >>University of South Florida, College of Business Administration, Tampa >>FL 33620-5500, USA). >>Please note that only completed papers will be accepted for the FMA >>European Conference review process. >> >>The paper submission deadline is Friday, December 1, 2000. >> >>You will receive an electronic confirmation of your submission within >>six weeks of its receipt by the FMA office, and you will be notified of >>the results of the reviewing process by the middle of February, 2001. >> >>Competitive Paper Awards >>The Financial Management Association International is pleased to >>announce that four (4) $1,500 awards will be presented in conjunction >>with the 2001 FMA European Conference. The "Young Scholars" award will >>be presented to the best paper authored by a Ph.D. student (or >>equivalent) or recent Ph.D. (or equivalent) graduate. Three additional >>$1,500 awards will be presented to the papers deemed "Best of the Best" >>by the members of the 2001 FMA European Conference Competitive Paper >>Awards committee. Please note that these awards will be made only if, in >>the opinion of the FMA Awards Committee, a paper warrants such a >>decision. The decisions of the FMA Awards Committee are final. >> >>Accepted Papers. If your proposal is accepted, the version of the paper >>you submit will be sent to its discussant as soon as he/she is >>identified. You are obligated to send the final version of your paper to >>the discussant and session chair by April 27, 2001. You also are >>obligated to present your paper in a professional manner at the assigned >>FMA program session. >> >>The collegiality of the meeting provides a very special opportunity for >>participants to share their work and to hear about the work others are >>doing. Thus, individuals whose papers are accepted for presentation at >>the 2001 FMA European Conference will be expected to either chair a >>session or discuss a paper. >> >>Program Co-Chairs >> >>Francois Degeorge >>HEC Paris >>1 rue de la Lib,ration >>78351 Jouy en Josas Cedex >>France >>33-1-39-67-72-34 (ph) >>33-1-39-67-94-34 (fax) >>[email protected] >> >>Kent Womack >>Dartmouth College >>Amos Tuck School >>Hanover, NH 03755 >>1 603 646 2806 (ph) >>1 603 646 1308 (fax) >>[email protected] >> >>Additional Opportunities For Participation >> >>Session Chairperson or Discussant. If you wish to serve as the >>chairperson of a session or paper discussant, but are not submitting a >>paper, please complete the Participation Form which can be downloaded >>from www.fma.org/paris.htm. Submit the completed form to the FMA office >>by December 1, 2000. Session organization will take place in March, >>2001. >> >>Deadline Summary >> >>Completed Papers: December 1, 2000 >>Chairperson/Discussant Requests: December 1, 2000 >> >> >> >John D. Martin >Carr P. Collins Chair in Finance >Finance Department >Baylor University >PO Box 98004 >Waco, TX 76798 >254-710-4473 (Office) >254-710-1092 (Fax) >[email protected] >web: http://hsb.baylor.edu/html/martinj/home.html > > > > John D. Martin Carr P. Collins Chair in Finance Finance Department Baylor University PO Box 98004 Waco, TX 76798 254-710-4473 (Office) 254-710-1092 (Fax) [email protected] web: http://hsb.baylor.edu/html/martinj/home.html
The Austin Group Energy, L.P. Monthly Newsletter Let's describe a typical and recurring nightmare for generating unit operators. It's noon on August 15, temperatures have reached the upper 90s all week; you're well into your reserve margin to serve native load, when a unit trips off line. Do you scramble to find replacement power at record high prices and worry about the consequences later? Or, have you prepared for this event? When the degree of risk has not been quantified, fear of the unknown can lead to restless nights, and understandably so. The financial implications can be astounding when a unit outage occurs during a period of high spikes in market prices. How does this relate to the recruitment and hiring of talent within your shop? Allow me to bring the story together. What would you do if your top employee came to you and said, "You've been great to me and I've learned alot, but I just accepted a job at your level right down the road and they like me so much they want me to start tomorrow." Do you spring into 911 mode or are you ready for this day. Start a relationship today with The Austin Group Energy. We will keep you aware of all available talent in your market area. These candidates are currently employed and do not answer ads. They stay in touch with opportunities through us to ensure confidentiality. Why would Top 5 marketing companies pay us for the recruitment and placement of over 400 successful hires when they could hire them on their own. The smart and proactive companies understand how to outpace the pack when it comes to hiring talent, they call The Austin Group Energy. THE FOLLOWING CANDIDATES ARE AVAILABLE FOR IMMEDIATE OPPORTUNITIES: Ref# 00012123 Power Options Trading Desk This PhD candidate is responsible for long term derivatives trades/structures (Asian options, heat rate options, weather/power derivatives structures, swing options etc.) Ref# 00012124 Rotational Program- Risk Analytics This MBA Finance candidate is analyzing/evaluating structured transactions and derivative instruments. Has developed a VBA-based delta-adjusted risk exposure model for all asset management groups. Designed intermediate-term forward power curve forecasting model based on gas forward curve. Created Visual Basic Monte Carlo simulator for Excel for option analysis. Ref# 00012125 Quantitative Analyst This M.S. in Applied Mathematics candidate builds short term models necessary to forecast/schedule usage on a portfolio basis, by various levels of aggregation (e.g. region, congestion zone, weather zone, customer, etc.) Constructing statistical and econometric models to accurately predict seasonal customer usage based on rate class, calendar and geographic climate patterns. Ref# 00012126 Quantitative Analyst - Manager This candidate developed and implemented two Value-At-Risk (VAR) methods for Natural Gas. Developed and implemented models for pricing and hedging exotic natural gas options (Gas Daily and Peaker). OpenLink experience with VaR and mark-to-market calculations. Ref# 00012127 Director Derivatives Trading and Portfolio Management Developed Nymex and locational options, position risk management model. Evaluated and assisted in the process of selecting and implementing a new real time front and back office financial system with VAR capabilities. Structured deals for marketers using embedded financial products and traded natural gas options and fixed for float swaps. Priced and hedged advanced options and swaps such as swaptions, asians, extendibles, expandibles, and spread options. Ref# 00012128 Risk Control Analyst Support Origination and Trading activities by providing daily mark-to-market values and VaR reports through accurate and timely entry of financial transactions into RMS system. Maintain database for RMS system and Integrated Commodity Trading System (ICTS) for entry of financial trades. Ref# 00012129 Risk Manager Responsible for all mid-office trader support functions. Responsibilities include daily senior management position and P&L reporting, process improvements, system implementations, structuring of originated transactions, and rollout of an operational analysis plan. Ref# 00012130 Senior Commercial Analyst: Pricing and Structures Developing model to incorporate basis and transportation into gas fuel costs utilized in mark-to-market valuation of a gas-fired generation asset. Determined market value of regional power by confirming the marks estimated by the trade desk against independent broker prices. Forecasted resulting previous day's trade-to-market figure for preliminary valuation of book value. Ref# 00012131 Director - Risk Management Analyze financial markets and advise physical traders of hedging and trading opportunities. Analyze market, secure management approval of trading strategies and execute financial trades. Generate position reports for upper management. Ref# 00012132 Risk Management Specialist Perform risk management functions for the gas trading organization, including daily position and P&L reporting. Ensure deal validation and perform problem resolution for executed trades. Create daily VaR estimates for both cash and term traders. Ref# 00012133 Risk Analyst Determine market value of regional power, confirming the market values estimated by trade desk against prices set for independent brokers. Forecast resulting previous day's trade-to-market figure for preliminary valuation of book value. Participate in daily Value at Risk calculations, exception reporting for daily variances, updating of daily price curves, and updating proprietary models which value long term transactions. Paul Johnson President- TAGE Ofc (281) 600-8145 Mbl (281) 814-3886 Visit our Website http://www.austingrp.com - Paul Johnson.vcf
Wade, I have decided that everything currently in our system is incorrect. Please set up a meeting with all the people shown above and we will discuss how to correctly handle this in our system. We also have some other supply behind the LDC that we might as well handle correctly. Wade, while we are at it, do you want us to look at NYSEG, CPA, and East Ohio??? Any others? People I need in attendance Mary Theresa or Jeanne Steve Gillespie Angie Sylvia Campos (or someone from the contracts group) This is what I'm thinking, everyone please think about this before we meet. I think I will have Peoples set up as a pipeline and we will move all the deals to this new pipeline. Steve, get the Peoples password from Angie. I need you to go into escript (Angie can help you with this) and run anything you can get out of this system. These are actually CES passwords. It is my intention to use this information to set up transport or pooling contracts in Sitara. From: John M Singer @ ENRON 08/30/2000 06:46 AM To: Victor Lamadrid/HOU/ECT@ECT cc: Wade R Price/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON@ECT, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON@ECT Subject: Re: Phillips Production Co - PNG City Gate Production Phillips Production has/had two seperate PNG deals: 1. 500 MCFD; $2.82/MCF; 1/1/00 - 6/30/00 2. 300 MCFD; $2.95/MCF; 1/1/00 - 11/30/00 To my knowledge, PNG does not send out production information to either the producer or the pool operator. This information should be available on E-Script. Phillips gets their production volumes (which they use to create our invoice) from the company integrating the meter charts. I beleive that this is the same information provide to PNG. John From: Victor Lamadrid @ ECT 08/29/2000 05:47 PM To: Wade R Price/HOU/ECT@ECT cc: Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, John M Singer/Corp/Enron@ENRON, Katherine L Kelly/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON Subject: Re: Phillips Production Co - PNG City Gate Production Wade, Thanks for bringing this issue to our attention. But I need help understanding this one. We have a process already to handle John's behind the citygate deals Since, the actual scheduling is done by CES in Virginia, we never nominate this gas nor do we see actuals. We hear about them from John and Terry and we are supposed to get confirms from the producer and CES. Whenever one of these deals occurs, we have buys from the producer and sales to CES to account for these transactions internally. It's my understanding that whenever John cuts one of these behind the citygate deals; that Terry puts it into Sitara for him. The offset also entered by Terry is a sale to CES (Now the New Power Company effective Sept. 1) with commercial (usually Chris Germany) confirming the sale price. Angie schedules it in Unify under CNG and we create, track and balance like usual. Is that not the case here? Is this something that's getting reconciled in Jeanne and Terry's project for CNG??? By cc: Angie, please get with Terry /Jeanne and Chris to help Wade. THANKS! Please keep me abreast of the status. Wade R Price 08/29/2000 02:53 PM To: Victor Lamadrid/HOU/ECT@ECT cc: Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, John M Singer/Corp/Enron@ENRON Subject: Phillips Production Co - PNG City Gate Production ENA is being invoiced by Phillips Production Company for production on Dominion Transmission (CNG) via Peoples Natural Gas. This is behind-city-gate gas that we do not get documents supporting the volumes. I have invoices and production statements from Phillips. Per John Singer Notes Mail of 08/23 concerning the July production," Phillips Production / Peoples: Price: @ $2.95/Mcf Term: 1/1/2000 - 11/30/2000 Est. Volume: 500/MCFD (Actual Volume will vary.) I have no way of verifying the actual volume. Chris Germany and Angie Zeman will try to get into CES's PNG pool via E-Script. This may be the only way to verify actual volumes. I have a call into Phillips to see if they might have a pipeline statement verifying volumes." Joihn's call to Phillips read partially, " I just talked to Sam Fragale @ Phillips. The 7,843 Mcf @ $2.95 is ENA's. " Our deals have been using point 20200 on Dominion Transmission (CNG). Deals for Jan 00 - Mar 00 were 210359 and 210364. These were copied to 226543 and 229733 respectively for April 00 forward Deal 226543 has April 00 only, but should probably be extended through June-00 according to deal notes from John. Here is our current status on this gas Prod Invoice Invoice Current Month Volume Price Unify Vol Sitara Deal May-00 4801 @$2.82 163 226543 (has April-00 only, should extend through June?)) 9748 @$2.95 353 229733 June-00 5341 @$2.82 0 226543 (has April-00 only, should extend through June?)) 9394 @$2.95 0 229733 July-00 7843 @$2.95 9552 229733 We need to get our proccess together for handling this each month through the end of the deal terms. Please direct the appropriate parties to help make these invoiced volumes available on the deal and in Unify so I can pay Phillips. Thanks WRP
Tip Pohl UBS Paine Webber 412-288-5202 > -----Original Message----- > From: Brophy, Michael =20 > Sent: Tuesday, March 12, 2002 12:47 PM > To: Gearty, Michael C.; Sunshine, Jeremy D. > Subject: You Own MSFT, Consider Other Software Opportunities >=20 >=20 > Our firms Global Investment Strategy Team currently recommends a Over > Weight position in Technology. Within this sector we are bullish on = the > software stocks. You currently own MSFT (Strong Buy, $105.00 = Target), > consider other software opportunities. =20 >=20 > Software Stocks may be well positioned for an economic recovery > * The Stimulus Package signed by President Bush, as it pertains to > software purchases, will be incrementally positive for the group as = it > provides for accelerated expensing for tax purposes. The bill may = jump > start some software purchases over the next 6 quarters to assure > implementations are completed before the window closes on 1/1/05. = With an > economic recovery appearing underway, evidenced by higher = productivity > gains, increased GDP and manufacturing data, lower unemployment and = an > increase in payrolls, companies may begin to deploy IT budgets. > * As a firm, we are overweight the technology sector and we are > overweight the software sector. Our favorite software stocks include > Siebel (SEBL, SB, $50 target), BEA Systems (BEAS, SB, $21 target) and = SAP > (SAP, SB, $43 target). >=20 > Siebel is our best large cap software idea for 2002 and we view it as = a > core holding. It's well positioned to expand its leadership position = in > the CRM software sector (customer relationship management), which is = the > fastest growing area of software. > * The CRM market can grow 20-25% over the next few years, driven by > new opportunities in retail financial services, health insurance, = travel, > manufacturing and government. > * Siebel has the strongest management team in the sector and from a > general execution standpoint, the company is the leader of the pack, > focused on product development and sales force execution. It also has = a > strong balance sheet with $1.6 billion in cash.=20 > * Price target is $50 based on 2004 estimates of $1.06, a 1.5 PE to > growth (PEG) ratio, discounted at 20%.=20 > * Technically, Siebel support is 25, 21 =BC, 16 =BD and resistance is = 37, > 50 and 56. >=20 > BEA Systems is another core holding in the software sector and is a > leading application infrastructure software company. We believe it's = a > stock to own for the next 5 years and is a name that will play out = over > the next few years, not just the next few quarters. > * BEA is the fastest software company to reach $1 billion in annual > revenue, it has been named #1 in execution year after year by Gartner > Group, it has 12,500 customers and 2100 partners. > * BEA's Weblogic Enterprise platform simplifies the flow of > information, decreases the cost of managing applications and makes an > enterprise more agile and productive. We remain impressed with BEA's > technical direction and believe they will be the one to beat in the > application server market. Our $21 target is based on 1.4x our CY03 > estimate of $.52, discounted at 30%. =20 > * Technically, support is 11 =BD, 9 and 7 with resistance levels of = 15 > =BC, 18 and 22. >=20 > A software company that drives global productivity growth is SAP = (SAP, > SBuy, $43 Target) and it's UBSW's Top European Software Pick in an > Overweight Sector. > * In a tough business environment, CEOs around the world are looking > for ways to make their business more efficient and profitable. There = are > 17,500 companies globally and 60% of the fortune 500 looking to SAP, = which > provides them with an integrated solution of ERP(enterprise resource > planning), CRM, and SCM (supply chain management) software to help = them > drive their business productivity.=20 > * A $14bn Upgrade Cycle is expected to drive earnings as 75% of SAP's > customer base is still on their old R/3 Software platform. We expect = a > strong upgrade cycle in SAP's customer base to their new mySAP.com > software platform to coincide with economic recovery. UBSW forecasts = 70% > EPS growth in 2003 driven by the upgrade cycle.=20 > * Only the Strong Survive. In 2001, SAP increased its customer base = by > 30%, to 17,500 customers globally taking advantage of weak = competitors. > * SAP has easy comps as 2002 numbers look very achievable; we expect > market to look through to 2003 where UBSW estimates 70 - 75% EPS = growth, > driven by SAP's customers upgrading to their new software platform. > * SAP trades at a discount to its closest competitor, Siebel, trading > at 70x 2002 P/E; SAP is at 43x 2002 P/E and 33x 2003. The target = price > assumes 40x 2003 EPS. > * Technically speaking, SAP looks good and has been forming a cup and > handle bottom formation for the past 3 quarters giving support at the > $31-32 level. Buy before the $37-38 break out level. On a = break-out > above this levels look for an initial move to low $40's and a = secondary > move to the mid $40's=20 > * Options Strategy: Buy call June 35 @ $4.50 >=20 >=20 >=20 >=20 ****************************************************** Notice Regarding Entry of Orders and Instructions: Please do not transmit orders and/or instructions regarding your UBSPaineWebber account(s) by e-mail. Orders and/or instructions transmitted by e-mail will not be accepted by UBSPaineWebber and UBSPaineWebber will not be responsible for carrying out such orders and/or instructions. Notice Regarding Confirmation: Please be advised that this e-mail is not an official transaction confirmation. The only official confirmation of a transaction will be sent to you via regular mail. Notice Regarding Privacy and Confidentiality: UBSPaineWebber reserves the right to monitor and review the content of all e-mail communications sent and/or received by its employees.
----- Forwarded by David M Gagliardi/TTG/HouInd on 08/28/01 09:24 AM ----- "Gagliardi, Michael" To: "'[email protected]'" <[email protected]>, <mgagliardi@u "'[email protected]'" <[email protected]>, nocal.com> "'[email protected]'" <[email protected]> cc: 08/28/01 Subject: FW: True Orange E-Mail/Fax #87 08:54 AM > -----Original Message----- > From: [email protected] [SMTP:[email protected]] > Sent: Monday, August 27, 2001 8:17 PM > To: [email protected] > Subject: True Orange E-Mail/Fax #87 > > True Orange E-Mail/Fax Service > Volume 9, E-Mail/Fax #87, Monday, August 27, 2001 > Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 - > Phone > 512-795-8536 > > Brown Names Starters with Few Surprises > > Texas head coach Mike Brown named the starters Monday for Saturday night's > > season-opening football game with New Mexico State, and there was only one > > major surprise. > That was at tight end where Bo Scaife and Brock Edwards were listed as > co-starters. "I don't know who will run out there first," Brown said, "but > > they'll both see plenty of action." > He also said Tillman Holloway and Derrick Dockery are co-starters at left > guard, but that was no surprise because they have battled back and forth > throughout the pre-season practices. > Junior Victor Ike, as expected, is the starting tailback, with super > freshman > Cedric Benson and big sophomore Ivan Williams listed as co-second teamers. > > Brown also said all three tailbacks will play a lot. > Senior Maurice Gordon, as expected, was tabbed to start at left defensive > tackle. "We had to figure a way to get him on the field," Brown said. > "That's > why we moved him (from defensive end). He probably runs 4.6 or better and > we > think he's really going to be good for us." > Brown also said Nathan Vasher and Ahmad Brooks will be the starting > safeties > with Dakarai Pearson backing up at both spots. > The Longhorns are 42-point favorites over NM State for their 6 p.m. game, > but > Brown said the contest "is a great challenge for us. They should have > beaten > Louisville last week and Louisville was a 9-or-10-win team last year." > Louisville went 9-3 last year and NM State had a lead at the half before > two > fumbles deep in Louisville territory were returned for touchdowns. > Brown had a good time discussing the Longhorns at his Monday press > conference. Talking about all the hype surrounding junior QB Chris Simms, > he > said, "Some think Chris Simms will win the Heisman and some think he > shouldn't start." > When someone mentioned that post-game comments in Oklahoma after the > Sooners' > opening win over North Carolina seemed to center more on Texas than on the > > Sooners, he said, "A lot of the opposing teams talk more about us than > they > talk about themselves, and there is no question some of them hate us more > than they like themselves." > * * * * > FOOTBALL NOTES: The Longhorns have the best opening game record in the Big > > 12. In 108 years of playing college football, Texas is 88-17-3 in opening > games. That's an .829 winning percantage. If the Horns hadn't gone 1-7 in > openers between 1986 and 1993, that great percentage would be almost off > the > charts. . . the Horns' No. 5 national ranking in the AP poll is their > highest > pre-season rating since 1983. . . QB Chris Simms completed 28 of 42 passes > > (66.7%) for 328 yards and four touchdowns in the Longhorns' three > scrimmages. > He did not allow an interception in the scrimmages. . . True freshman LB > Derrick Johnson led all defenders in the scrimmages with 20 tackles. . . > Starting LB Lee Jackson probably will miss the opener with a turf toe and > will be replaced by Tyrone Jones. He is the only starter who will be out > unless someone else gets banged up this week. > * * * * > RECRUITING NOTES: The Longhorns apparently have targeted three wide > receivers > for two remaining slots and will take the first pair to commit. The three > are > Marquis Johnson, a national top 100 player from Champaign, Illinois, and > two > Texans - Biren Ealy of Cypress Falls and Anthony Wright of Klein Forest. > Johnson lists the Horns No. 1 and might commit when he visits. He says he > wants to visit UT in September. Wright also lists Texas as his top team, > while Ealy is more wide open. . . CB Ricky Wilson of Port Arthur Lincoln > is > getting a lot of national attention because he is an outstanding cover > corner > with great speed and leaping ability - and good grades. That last factor > sets > him apart from several of the other top corner prospects. He lists Florida > > State and Texas as his top two teams. . . If you are a real recruiting fan > > who keeps a list of future prospects, pencil in Clay Broyles, 6-4, 235, of > > Hallsville as a junior DE/TE who will be a big item in next year's > recruiting > wars. His coach says he is a top prospect on either side of the ball. > * * * * > My next e-mail/fax will be whenever events warrant. > * * * * > The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a > year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes > 26 > newsletters and is published weekly during football season and twice > monthly > during most of the other months. It costs $45. Save by subscribing to both > > for $130 (or $110 if you take the faxes via E-Mail or $99 if you take > both > services via E-Mail). Send check to address at the top of page. I also > update my 900 number - 1-900-288-8839 - daily with recruiting news. My > E-Mail address is: [email protected].
Guys, to end all arguments, I would suggest the following protocol which is similar to what was discussed at Columbia Lakes: a) P&P swaps and anything to do with the network strategy/assets in the paper sector in Canada and Mexico - Industrial Origination; b) Pure energy commodity positions and stand-alone energy assets (no outsourcing) for all industrial segments in Canada and Mexico - ECC or Enron Mexico; c) Energy outsourcing for all industrial segments in Canada and Mexico - I would like Enron Canada and Enron Mexico to develop a written target list in which ECC, Enron Mexico and the Industrial Origination groups would work together to develop, sell and execute on the most profitable and value adding outsourcing product for the industrial customer in Canada and Mexico - ECC and Enron Mexico's understanding of the energy markets in Canada and Mexico coupled with the customer facing, product development and execution skills in Houston should provide a winning team. I am asking for the three teams to clearly identify the outsourcing targets, lead sales and structuring people and the timing as far as starting discussion with each target customer (ASAP). I would hope that the Mexican and Canadian teams would lead the sales process and the Houston team lead the structuring, customer facing and execution but I will let you decide the optimum mix. Either way, I am expecting this target list completed and agreed to in the next two weeks for Canada and Mexico; and d) for Tembec I don't think it makes sense to change the deal team at this point; however, the US team will keep the Canadian team in the loop and if the products become non-outsourcing related the deal should be passed to ECC. Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 08/03/2000 12:31 PM --------------------------- Rob Milnthorp 08/03/2000 09:46 AM To: David W Delainey/HOU/ECT@ECT cc: Subject: Tembec and US Originators Dave, attached is some of the background correspondence in anticipation of our meeting with Brian Burnett. Regards Milnthorp ---------------------- Forwarded by Rob Milnthorp/CAL/ECT on 08/03/2000 09:29 AM --------------------------- Angela McCulloch 07/27/2000 11:07 AM To: Rodney Malcolm/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, James A Ajello/HOU/ECT@ECT cc: Rob Milnthorp/CAL/ECT@ECT Subject: Tembec and US Originators Rodney, Edward, Jim - We've been over this issue a number of times and I thought we had reached resolution when we last met with Delainey. My understanding with respect to coverage of Canadian Industrials is as follows: 1.) ENA to take lead on industrials that have facilities in both US and Canada and will co-ordinate coverage with ECC with respect to Canadian Facilities. 2.) ECC to take lead on industrials that have Canadian Facilities only. 3.) With respect to Canadian Pulp & Paper Industrials, ENA will cover Pulp & Paper Swaps and SPV structuring. ECC will cover these industrials for all other Enron products (i.e. power, gas, services, etc.) Again, coverage needs to be co-ordinated. Specific to Tembec, I share Paul's concerns on why ENA would send 2 people to talk to Tembec re: outsourcing when Tembec is across the hall from ECC, ECC has an established relationship, and Tembec is a Canadian Company with no US facilities. It is my hope that we can resolve this amongst ourselves without having to get Dalainey involved. I would suggest a conference call next week. In the interim, Paul will forward a CA to Tembec in contemplation of an outsourcing arrangement. Regards, Angela McCulloch for Rob Milnthorp Assistant to Rob Milnthorp (403) 974-6738 ---------------------- Forwarded by Angela McCulloch/CAL/ECT on 07/27/2000 11:04 AM --------------------------- Paul Devries 07/25/2000 01:30 PM To: Rob Milnthorp/CAL/ECT@ECT cc: Subject: Tembec and US Originators Rob, We just had a very good meeting with Tembec about Energy procurement and energy outsourcing. While the meeting went well, I am very confused about the Enron team making the pitch to them. My understanding is that the Canadian originators - particularly the Toronto team for Eastern Canadian companies will be responsible for everything except for pulp and paper swaps and to some extent, new SPV's. In this instance, 1. Tembec is a Canadian Company 2. All their assets are in Canada 3. Jan has been working with Tembec people in their largest facility 4. We know the executive team at Tembec 5. We clearly are very knowleadgable in all aspects of the Ontario energy market which is their focus right now 6. We understand and are pitching the overall energy outsourcing arrangement similar to the US pitches With this in mind, I am not sure why Kellie Metcalf and Bob Anderson flew up here (6 hours flight time there and back, $4,000 to $5,000 in flights and hotels) for a 4 hour meeting with Tembec. Kelly was quite vocal in saying that this is a client they want to serve out of Houston. I have stated to her that that does not make any sense in terms of efficiency and costs and knowledge of the market where Tembec's assets are. Obviously, much of the technical engineering work would and should be done by the engineering team put together in the Industrial Services Group should a deal be struck. However, the commercial negotiations and marketing should be led by this office!!! I thought this had been agreed to already. We managed to piece up the meeting and deliver the "Enron" message, but going forward we need to have this resolved. Cheers, Paul D
Thank you. On the SDEC: this is no longer an '02 play. To keep it as an '03 play three things need to happen: (1) we need to move our application for an Unusual Use Permit from the jurisdiction of the Community Zoning Appeals Board ("CZAB") to the Board of County Commissioners. The CZAB is a parochial board that is stacked with NIMBY's. We have been doing our assessment of the communities and after weeks of investigation we have concluded that if we go before the CZAB, we feel we will be facing sudden death. However, if we go before the County Commissioners, we will have a very good chance of success. The vehicle we propose to use to change the jurisdiction is something called an Application of Vested Rights. As I understand it, (I'm getting info on this today), this is a statement that says that a property owner is being prevented from any use of his property. This application needs to be submitted to the county before June 6th, the date of our CZAB hearing. (2) we will need to negotiate an arrangement with Dade County Department of Environmental Resources Management ("DERM") who is responsible for ensuring that the land fill be closed. They have been pushing the owner of the property to initiate the closure work. The land owner, Certrosa Holdings, is a single asset company and the sole owner lives in Venezuela. If we were not in the picture, I believe Certrosa Holdings would most likely default on the obligation to close the landfill leaving the county to clean it up (at $3 to 4 million). To keep this as an '03 play we will need to get DERM to agree to post pone the closure proceedings for at least a year and we will need provide some assurances that if we do exercise the option and get in the chain of title that we would assume the obligation to close the landfill. We may need to initiate this conversation in the next 2 to 3 weeks. (3) we will need to extend the Option Agreement which expires on September. The strike price for this property is approximately $1.3 million and we paid $200,000 for a 9 month option last October (when the rules were soft costs could not exceed 5% of the total project cost of $175 million). Based on the success of (1) and (2) above, we may need to initiate this discussion in the next 2 to 3 weeks as well. On the Medley - Dunn discussions: As you know, when Ann Elizabeth and I left the the Dunns, last month, they had two deal breakers: (a) they wanted a committment on our part that we would pay a certain amount of taxes to the town and not go for a tax abatement. (we said the taxes and any arrangement we make with the town would not involve the Dunns) (b) they wanted us to assume all past and present environmental liabilities. We said no to both conditions and halted discussions. I have heard from the real estate agent representing the Dunns that they are considering giving on both these items. If we structured an arrangement where we did a phase 2 environmental assessment during a 60 to 90 day "due diligence" period (rather than in an option period or under a 90 day lease), gave both parties the chance to opt out of the deal based on the results of the phase 2; and, we change the agreement back to the way it was in the last Andrew & Kurth draft which was silent on the issue of historical environmental liability and liability from environmental problems that arise in the future but are not the result of our operations. Would this arrangement give us adequate protection and give us the right to sue if necessary to have the Dunns or any other responsible party help pay for any clean up? If this is something we can work with, we need to have a conversation with the Dunn's attorney. What do you think? -----Original Message----- From: Mann, Kay Sent: Wednesday, May 23, 2001 11:03 AM To: Krause, Greg Subject: RE: AEW's backup Greg, You can call me on whatever you have, including Midway, SDEC and Medley Dunn. If I have a problem getting to something, I'll find help. Kay From: Greg Krause/ENRON@enronXgate on 05/23/2001 10:50 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: RE: AEW's backup Kay, Ann Elizabeth did not provide a designated hitter for the South Dade Energy Center (Dade Development Company LLC is Optionee, Certosa Holdings is Optionor) nor did she provide one for tne Medley Dunn project. I have been told that the Dunns are considering backing off their ultimatums that they gave Ann Elizabeth and I regarding taxes to the town and assumption of enviromental liability. Who do I talk to about the Dunn contract while Ann Elizabeth is out? -----Original Message----- From: White, Ann Elizabeth Sent: Tuesday, May 22, 2001 10:33 PM To: [email protected]; Krimsky, Steven; Ben Jacoby/HOU/ECT@ENRON; Carnahan, Kathleen Cc: Milligan, Taffy Subject: AEW's backup Kay Mann is the designated hitter for the Pompano and Deerfied projects while I'm on vacation. I've given her a down load of the status of Greg and Steve's projects. Chris Boehler at A&K will be the designated hitter for Midway. I'm not going to check my voice mail while I'm gone but, if necessary, here are the contact numbers while I'm gone. Walter and Marlena Schilling 011-49-8218-89351 [email protected] Monika and Bernhard Steinacher 011-49-8232-8932 [email protected] If you call, Walter and Bernhard and Bernhard's daughter, Susanne, speak very good English. Monika's isn't bad. Marlena may get flustered and hang up on you. Best of luck at Deerfield and hope to see Pompano on track when I get back in the office on June 11th. Kay is planning on going to Florida on June 12 for the moratorium hearing and the rezoning hearing.
I am not sure it solves matters. Stikemans opinion points out: 1. as I indicated this morning, "money" means actual currency - notes and coins - not funds transferred by wire into an account, which would likely be treated as an "intangible" resulting in the various requirements/concerns I pointed to this morning regarding perfection by registration; 2. although, in their view, the validity of the transfer approach would be recognized by a court (in Ontario at least), given that the intention of the Transfer Annex is to provide security for contingent obligations under the Master Agreement and the lack of relevant case law, there is a material risk that the Court would nonetheless characterize the transfer as a security interest subject to the requirements for perfection. With our present understanding, in the absence of any definitive case law, and without an unequivocal opinion we can rely on, I am not sure we can rely on the transfer approach to solve the problem, particularly with high volume counterparties who likely are going to create the largest exposures. Peter. Carol St Clair 03/20/2001 09:19 AM To: Peter Keohane/CAL/ECT@ECT cc: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Anne C Koehler/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron, Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron Subject: Re: Cash Collateral In Canada Peter: Thanks for responding and sorry about you having to repeat this again as I was not aware of your previous discussions. In Stikeman's November 2000 ISDA Collateral Opinion, they suggest as an alternative course of action to modify the Credit Support Annex to create a debtor/creditor relationship between the parties and to provide for an outright transfer of cash instead of a pledge. Do you have any thoughts on this? Is this an alternative that we should consider implementing with some of our more persistent high volume counterparties who are giving us a hard time about not being able to post cash collateral to us? Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) [email protected] Peter Keohane 03/20/2001 09:58 AM To: Carol St Clair/HOU/ECT@ECT cc: Greg Johnston/CAL/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Chris Gaffney/TOR/ECT@ECT, Mark Powell/CAL/ECT@ECT, Sharon Crawford/CAL/ECT@ECT, Tana Jones/HOU/ECT@ECT Subject: Re: Cash Collateral In Canada In the past few weeks, I have discussed this issue with Brent H., Mark T. Chris G. and Mary C. Under the PPSA jurisdictions in Canada, which includes Alberta and Ontario among others, cash held on deposit as collateral is not clearly categorized as "money" but more likely an "account". Although certain categories of collateral can be perfected by possession, including "money", "intangibles", which includes "accounts", cannot be perfected by possession. The issue comes down to whether we will accept the risk that a wire transfer to an account designated by us constitutes "money". Although it is not clear, the better view is that "money" means cash in hand and not on deposit. The risk is that an unperfected security interest is subordinate to various parties, including a bankruptcy trustee and to subsequently taken but properly perfected security interests. I will admit, however, that this seems to be a risk that others in our market take (although likely unknowingly). Accordingly, to perfect the "account" a registration is likely required at the PPR, which is something we do not want to get into. Even then, as an "account" is an "intangible" certain conflicts rules for perfection by registration need to be considered, as the PPSA jurisdictions provide that perfection of an intangible is governed by the laws of the jurisdiction where the debtor is located, as determined by the location of its principal place of business or chief executive office. i.e. registration may be required in some other jurisdiction entirely. Further, an advance search would have to be done to see if there are competing prior registrations. Also, as the PPR is not a guaranteed title registry, registration priority does not necessarily guarantee security priority, and law firms will not typically give priority opinions under the PPSA. Lastly, if there is an insolvency and the deposit holding institution is also a creditor of the counterparty, there may be some argument that the deposit holding institution will assert rights of set off over the account. In terms of updating advice, the statutory provisions have not to my knowledge changed. I suppose there is some possibility that a court has recently determined that "money" includes deposits that we are not aware of, and I could ask outside counsel to research this issue. Peter. Carol St Clair 03/20/2001 07:45 AM To: Peter Keohane/CAL/ECT@ECT, Greg Johnston/CAL/ECT@ECT cc: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT Subject: Cash Collateral In Canada Peter and Greg: One of our counterparties is questioning why we won't accept cash collateral in Canada. They claim that under the current state of the law, holding cash collateral is the method for perfecting. Please advise. Should we ask Stikeman to update their advice to us on this? Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) [email protected]
On the first point the reference to a "municipal plant" did not disclose whether it was a legal body corporate. That fine if the check has been made. As far as the US$6m min asset level is concerned it does not specifically relate to Australia counterparties (ie those incorporated in Australia). It relates to companies with whom we trade Australian power irrespective of place of incorporation. Under our power trading licence requirements we are required to take reasonable steps to satisfy ourselves that we are dealing with non-retail type investors. There is a check list in the licence of requirements , the most relevant for companies not trading in Australia is the AUD10m (US$6m) in "tangible assets". Tana thank you for your offer. You are really doing an excellent job pulling together a huge amount of information in such an effective. I am loath to do anything that would make your job any more difficult. I think we can assume that a party which has sufficient assets to trade US power can also trade Australian power. As far as Australian incorporated companies are concerned we will be checking their suitability Australian power hopefully at the time we receive the password application. If not I will pick it up when I check your list. From: Tana Jones@ECT on 17-08-2000 09:10 CDT To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: EOL Credit Responses 08/14/00 Each legal trading group here in Houston checks on a relevant counterparty's ability to trade its products. So far the only physical trading area where a governmental counterparty appears to have problems is the power trading group where there are licensing requirements that may or may not have been obtained to trade power. For financial trading we do have to inquire into the relevant governmental entities' authority to enter into derivative transactions. In order to do that we look at statutory authority, any relevant local regulations, investment policities, etc., in addition to obtaining legal opinions on the subject, and with some counterparties hiring outside counsel to advise us. For most governmental entities if we do not have an ISDA Master in place and have already done such due diligence, I will not be approving them to trade financial products. As far as the financial test, for the US based counterparty list, I check with Credit on every counterparty to determine whether they meet the US eligible swap participant standards. As I'm sure you know, for most plain vanilla corporates and partnerships this means having total assets of $10mm or a net worth of $1mm. Pretty much, if I am turning down a counterparty to trade financial it will be because they do not meet the ESP test or they are a governmental or quasi-governmental entity. If what you are telling me is that the Australian counterparties have to meet a $6mm asset test to trade any products, then I will add this to my daily inquiry to Credit and turn down Australian counterparties if they do not meet this test. At your direction I will handle this in this manner. How would you like me to proceed? David Minns@ENRON_DEVELOPMENT 08/16/2000 07:58 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: Re: EOL Credit Responses 08/14/00 Is this an incorporated entity? I assume its authority to trade a range of products has been checked out? In Australia this assumption can not be made for government entities Under our licencing requirements we need to make reasonable enquiries that a counterparty has (or is guaranted by someone who has) atleast USD6 million in assets. Can this assumption be made? From: Tana Jones@ECT on 16-08-2000 08:39 CDT To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: EOL Credit Responses 08/14/00 Tauton is ok for all products, except for financial products (it can do power). David, when I talk about this I am never including credit derivatives unless Credit specifically tells us in their spreadsheet that this is a credit derivatives counterparty. David Minns@ENRON_DEVELOPMENT 08/15/2000 05:32 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: Re: EOL Credit Responses 08/14/00 Tana what can the Taunton Municipal Light Plant trade? Is it the same as Huntsville? From: Tana Jones@ECT on 15-08-2000 01:35 CDT To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, David Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie Heard/Enron Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron Communications cc: Subject: EOL Credit Responses 08/14/00 ----- Forwarded by Tana Jones/HOU/ECT on 08/15/2000 01:35 PM ----- Bradley Diebner 08/14/2000 05:27 PM To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities, Enron Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Claudia Clark/HOU/ECT@ECT cc: Subject: EOL Credit Responses 08/14/00 The EOL approvals for 08/14/00 are attached below. Regards, bd
Thanks for the note. Good work. If I am in Mumbai for a full day on Friday, 4 August, is that sufficient? thanks mcs Jane Wilson@ENRON_DEVELOPMENT 26/07/2000 18:40 To: Mark Schroeder@ECT, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Comments to MoP Worked the Ministry of Power yesterday with Sanjay and had my own meeting with the Junior Secretary who is in charge of the Electricity Bill effort. He invited me back. Found out from him that there are TWO drafts of the Electricity Bill -- the Ministry of Power began drafting its own draft around draft IV of the circulated draft and has picked and chosen from the circulated draft (that's interesting!) The MoP draft is with the Cabinet soon to be introduced to Parliament. The real law that is introduced to the Parliament will be released to the public once it leaves to Cabinet for the Parliament. We will have a chance to lobby and explain to the Standing Committee out positions, i.e., the whole input process starts all over again. Meanwhile, the three individuals with whom we met yesterday (various secretaries) requested our direct input again (there is obviously still time for the Ministry to revise its draft). Thus, I've tried to rearticulate the critical elements that must be in the bill to constitute legitimate reform and point out how crazy the World Bank's emphasis on forming regulators and accounting unbundling is if unrelated to full reform in the note attached below. Actually made most of Amcham's presentation to the DOE mission in India. The presentation that was handed out to them is attached below. Once you've opened the presentation, go to slide show, custom, and see the slides from which I spoke (I took the substantive ones). The important slide in both the custom show and the handout is the last one which is DOE Action items. They told us that this was exactly the kind of briefing they needed. Sanjay's happy, I'm happy, hope you're happy. Please note that there are EOG slides included with regulatory concerns of the upstream E&P sector. Of note is that I worked with Larry Morse of EOG and accompanied him to the Ministry of Petroleum and Natural Gas (MoP&NG) on Saturday to directly give input into the Ministry Working Group on forming a regulator in the O&G sector. Our scheduled 15 minutes (they were moving private parties through a New York musical tryout) turned into 30 minutes and a request for a written document. I came up with a new idea of EOG to make their life easier and the Ministry was interested: the Director General of Hydrocarbons is the "regulatory agency" that is interfering in more than regulating the Production Sharing Contracts (PSCs). I suggested to Larry (who loved it) and the Ministry that the current functions of DGH be divided into three separate things: the normal regulatory function (permitting, environmental, safety and information management) that should devolve on DGH, a facilitator role assigned to the MoP&NG (provided in the law or regs somewhere -- this is essentially a government person to help private parties knock down barriers), and a Contract Adminsitrator, meaning a representative of the Government of India to sit on the joint venture's Management Committee. I suggested perhaps a retired ONGC executive. This may ameliorate the DGH's tendency to build a file and obstruct any spending whatsoever in the misguided belief that profits will be greater for GOI in the future. I'd like to take this opportunity to record all our joint MoP&NG issues both upstream and LNG into one document. Then it can become our joint platform paper to lobby from, do presentations from, etc. Need to rest a day, however before that effort starts. Cheers. Hope to return to Mumbai tonight. I've overstayed in Delhi by two days. Sanjay mentioned that he now thinks that I will spend 50% of my time here. ---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on 07/26/2000 12:20 PM --------------------------- Jane Wilson 07/26/2000 12:16 PM To: K Seethayya/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ashok Mehta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Neil McGregor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Akshay Singh/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Amr Ibrahim/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sisir K Podder/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bobby Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jimmy Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mohan Gurunath/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Comments to MoP Attached are the comments requested by several people during our visits to the Ministry yesterday. I have removed any discussion of PTC or Powergrid at this time. However, we need to look for opportunities to make our point that a government marketing company is a contradiction in terms, particularly about PTC, at the appropriate time. Please hand deliver a copy of our comments to S L Rao. Perhaps Beena could have a courtesy copy delivered to Mr. Subramanyam. I assume that you will put an appropriate transmittal letter on top of the comments for delivery to the Ministry today. Thanks.
Your review and approval of the following product types in the EOL Datamanager is needed (for directions on approval , please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 58986. ****** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM - 11AM********* Traders: Harry Arora and Robert Stalford Product Names: US East Power Phy Option Call (2077) US East Power Phy Option Put (2078) US Pwr Phy Opt PJM-W EPXXX Jul01 USD/MWh A US Power Transaction with Enron Power Marketing, Inc., under which the Put Option Buyer has the right, but not the obligation, to elect on the Exercise Date to schedule and deliver, and the Put Option Seller would have the obligation to schedule, receive and pay for at the Strike Price, a quantity of firm energy equal to the Hourly Quantity for each applicable hour during the term of the transaction. The Strike Price shall be as set forth in the Product description on the Website. As consideration for this right, the Put Option Buyer shall be required to pay to the Put Option Seller the Premium which shall be equal to the product of (i) the price submitted by Counterparty via EnronOnline, multiplied by (ii) the total number of hours during the term of the transaction, multiplied by (iii) the Hourly Quantity. The Payment Date for the Premium shall be within two (2) business days of the Transaction Date. The Option style and type shall be a monthly European Put ("EP"). The transaction is for the applicable hours as set forth herein on each Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31 Jul 2001. The transaction is for delivery or receipt of energy at the PJM Western Hub. The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the price is quoted shall be megawatt-hours (MWh) and the quantity shown shall be in MW's delivered in each applicable hour for the duration of the Transaction (the "Hourly Quantity'). In order to exercise the Option, the Option Buyer shall provide telephonic notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on the Exercise Date. The Exercise Date shall be the second penultimate NERC business day of the month prior to the month in which the term commences. The transaction is for on-peak ("Peak") hours on each Delivery Day beginning with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300 (11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday, excluding any day that is a NERC holiday. US Pwr Phy Opt PJM-W ECXXX Jul01 USD/MWh A US Power Transaction with Enron Power Marketing, Inc., under which the Call Option Buyer has the right, but not the obligation, to elect on the Exercise Date to schedule, receive and pay for at the Strike Price, and the Call Option Seller would have the obligation to schedule and deliver, a quantity of firm energy equal to the Hourly Quantity for each applicable hour during the term of the transaction. The Strike Price shall be as set forth in the Product description on the Website. As consideration for this right, the Call Option Buyer shall be required to pay to the Call Option Seller the Premium which shall be equal to the product of (i) the price submitted by Counterparty via EnronOnline, multiplied by (ii) the total number of hours during the term of the transaction, multiplied by (iii) the Hourly Quantity. The Payment Date for the Premium shall be within two (2) business days of the Transaction Date. The Option style and type shall be a monthly European Call ("EC"). The transaction is for the applicable hours as set forth herein on each Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31 Jul 2001. The transaction is for delivery or receipt of energy at the PJM Western Hub. The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the price is quoted shall be megawatt-hours (MWh) and the quantity shown shall be in MW's delivered in each applicable hour for the duration of the Transaction (the "Hourly Quantity'). In order to exercise the Option, the Option Buyer shall provide telephonic notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on the Exercise Date. The Exercise Date shall be the second penultimate NERC business day of the month prior to the month in which the term commences. The transaction is for on-peak ("Peak") hours on each Delivery Day beginning with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300 (11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or Friday, excluding any day that is a NERC holiday. ============================================================================== STEPS FOR APPROVAL: click the START button select PROGRAMS select TEST APPLICATIONS select ENRONONLINE CLUSTER(PROD) PROCEED WITH USUAL LOGIN/PASSWORD click the Enron Online Production Cluster "START" button select EnronOnLine (this is the EOL Datamanager) PROCEED WITH EOL LOGIN/PASSWORD click on the "+" for EnronOnLine click on the "+" for Product Types click on the "+" for "Partially Approved" select the product requiring review as stated in e-mail above Right "mouse" click on "properties" to view product set-up
Steve - when you get a chance, please take time to read David Merrill's status report below. Frankly, I think he is trying his best to get on top of the EBS tasks we have given him. HOWEVER, having said that, and before having received his report below, I was going to write you an e-mail indicating that I am afraid we cannot continue to keep David in this role. I just returned from Tokyo (office opening, meetings, etc.). There, I saw Sanjay, who confirmed his imminent new role for EBS Asia, Anthony Duenner (President, EBS Asia), and Bill White, head of EBS Asia Trading. David simply does not enjoy the confidence of his commercial clients in EBS, and, notwithstanding my comments above about the level of his effort, I do not see turning this around. His problem is not any single one thing, but a cumulation of things, which I list below, but I think it is the totality that feeds the general view: 1) He was probably only a decent fit with the old Enron APACHI, when it was asset-focussed, and he could use his diplomatic experience to open doors for projects. Even then, he was never an "Enron" person, in terms of our culture, and being isolated in Singapore has probably not helped to get him inculcated in the company culture. With EBS and Enron Asia taking a much more "merchant" business focus, he just does not get it. 2) Chris Hunt (APACHI), and Jim Row (ex-EBS) encoureaged him to develop/pursue origination leads. EBS does not want him doing that, and the asset-focussed stuff he keeps tossing the way of the enrgy groups is grating to them, given that they simply see him as not getting the message that the company has moved away from assets. 3) Bill White tells me that he (David) has not performed well in a meeting. It is a single data point, but Bill is also known to me from Enron Europe days, and he is not a particularly critical person. 4) David only exacerbates this by being insecure about his role, and trying too hard to sell himself to the clients/customers internally, and they find this teidous. 5) Frankly, though it is not the only source of David's problems, I think he was ill-served by Donald Lassere and XiXi (the associate), who I am confident conducted what is know here as a "whispering campaign", i.e., "he does not know what he is doing", "he is not an expert in the filed", and generally acting like a pair of juveniles when it has come to any effort to bring a sense of stability and order to the clients, e.g., "don't know what I am supposed to be doing". In any event, I simply do not see much prospect of persuading the EBS people to give David a chance, and I think I will be doing myself no favours with them by pushing it. SO, either we find another role, e.g., in in Washington, and I am nor sure they need someone with David's skill sets, or we let David go. Your thoughts? In terms of supporting EBS Asia, I think the new guy I hired here in London could do it quite capably, but all of the biz is either in Houston, or I am told Sanjay is contemplating a move to Singapore, so, in eitheerr case, my guy here can probably not be effective from the standpoint of being read into the business. From where I am, I would prefer to have someone in Singapore or Tokyo, rather than Houston, but the people in Houston may want someone closer to them (I frankly think it is a mistake to try to build a business in Asia from Houston). Sanjay mentioned the guy who is his General Counsel at Dabhol Power Company, and I will discretely check with Jane Wilson on her impressions (but he will not be "communications" literate/specialised). Look forward to your ideas. mcs ---------------------- Forwarded by Mark Schroeder/LON/ECT on 05/11/2000 10:40 --------------------------- David Merrill@ENRON_DEVELOPMENT 05/11/2000 07:05 To: Mark Schroeder@ECT cc: Subject: Status Report Mark: Here is a status report: I met with Anthony Duenner Friday in Korea. He approved expenses from his budget for (1) some of the consulting work in Hong Kong that needs to be done, (2) Korean work with a law firm to see if we can get a new decision on bandwidth trading, (3) continuing expenses of the present tariff consultant in Japan. I have done separate e-mails on (1) and (2), copied to you. So that concern is taken care of. Everything seems to be going very well so far in the new assignment. Thanks for giving me the lead. Here is country by country status: Korea: I went up the learning curve a lot on the Korea trip (see sep e-mail on the regulatory problem we discovered and proposed strategy to deal with it). I now feel very much on top of Korea. Will go back to advance the work on overturning the adverse regulatory ruling. To my mind this is exactly what a regulatory review should do - - identify regulatory risks before we go in. Hong Kong: We have identified somebody in EBS to do the system configuration report. I am going to go up there to advance the tariff submission that is due before year end. Japan: I need to get up there and get up to speed on what the consultant is doing on tariff and terms and conditions. Singapore: I am reminding the lawyers to get a corporate entity selected so we can proceed with a license and tax incentive application. Taiwan: I will be doing a Taiwan regulatory review similar to Korea but lower priority. Will probably be January. Also was approved by Duenner. Never did find out what his people did there, but I will. David
now that i have Jeff on board lets here from the rest of you -----Original Message----- From: "Smith, Jeff" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Smith+2C+20Jeff+22+20+3CJeff+5FSmith+40AFCC+2Ecom+3E+40ENRON@ENRON.com] Sent: Thursday, September 06, 2001 12:00 PM To: 'Kevin'; 'Kiske, Chris'; Ty Servello; Mike Deluke; Michael Currie; Jody Spottswood; Jeff Ullrich; Grant Johnson; Quigley, Dutch; Dan Wienserski; Chris Kiske (Home); BJ Naman; Andy Reynolds Subject: RE: Franchise Players and the Draft Dutch's suggestion would alleviate all of Kevin's points below. Whether we snake after that is another issue - the top three rounds are more important than the back to back pick issue. > -----Original Message----- > From: Kevin [SMTP:[email protected]] > Sent: Thursday, September 06, 2001 11:09 AM > To: Smith, Jeff; 'Kiske, Chris'; Ty Servello; Mike Deluke; Michael > Currie; Jody Spottswood; Jeff Ullrich; Grant Johnson; Dutch Quigley; Dan > Wienserski; Chris Kiske (Home); BJ Naman; Andy Reynolds > Subject: Re: Franchise Players and the Draft > > Actually the draft order was determined by a vote and is not subject to > change...this year anyway. The idea behind it was to not let someone keep > a > franchise player (generally one of the top 5 players overall) and then > receive possibly the fifteenth pick overall in the draft...thus getting a > top 5 player and the number one pick in the next round, while someone that > does not keep a franchise player in theory could get the last pick of the > supplemental round and the last pick of the first round (number 14 player > and the 28th player)...too much of a penalty to one team. Of course this > is > all subject to vote and can be changed for next year. > > Kevin > > ----- Original Message ----- > From: "Smith, Jeff" <[email protected]> > To: "'Kiske, Chris'" <[email protected]>; "'Kevin'" <[email protected]>; > "Ty Servello" <[email protected]>; "Mike Deluke" > <[email protected]>; "Michael Currie" <[email protected]>; > "Jody Spottswood" <[email protected]>; "Jeff Ullrich" > <[email protected]>; "Grant Johnson" <[email protected]>; "Dutch Quigley" > <[email protected]>; "Dan Wienserski" <[email protected]>; "Chris > Kiske (Home)" <[email protected]>; "BJ Naman" <[email protected]>; > "Andy Reynolds" <[email protected]> > Sent: Thursday, September 06, 2001 10:43 AM > Subject: RE: Franchise Players and the Draft > > > > The snake thing is good and bad. But I think the first round should be > > randomly selected for ALL teams because the current way gives those not > > keeping a franchise player a double benefit by picking in the > supplemental > > and then also at the top of the first round. Theoretically the non > keeper > > teams are getting the 8-14 best players who are arguably also franchise > > players. In effect by not keeping a player you are randomly selecting a > > lower level franchise player. So they shouldn't get the an automatic > shot > > at 15-22 or whatever it might be as well. So snake or no snake all of > round > > one should be random order. > > > > > -----Original Message----- > > > From: Kiske, Chris [SMTP:[email protected]] > > > Sent: Wednesday, September 05, 2001 9:59 PM > > > To: 'Kevin'; Ty Servello; Mike Deluke; Michael Currie; Jody > Spottswood; > > > Jeff Ullrich; Smith, Jeff; Grant Johnson; Dutch Quigley; Dan > Wienserski; > > > Chris Kiske (Home); BJ Naman; Andy Reynolds; Kiske, Chris > > > Subject: RE: Franchise Players and the Draft > > > > > > As the creator of the algebraic mean sequenced draft order that was > built > > > to eliminate the inherent advantage that the #1 & #14 teams had by > getting > > > back to back picks every other round, I think the time for > mathematical > > > preciseness has passed. I'm all for going to a simplified traditional > > > snake system. Frankly, at this point I think there are as many > > > disadvantages to being 1 or 14 (or 2 - 13) as advantages that it all > works > > > itself out. Hell, if it makes preparing for the draft any easier (or > > > administering the league), I'm for it! > > > > > > PS - I'm for keeping TE's too! > > > > > > (Somewhere, Rick is rolling over in his grave) > > > > > > > > > -----Original Message----- > > > From: Kevin [mailto:[email protected]] > > > Sent: Wednesday, September 05, 2001 5:53 PM > > > To: Ty Servello; Mike Deluke; Michael Currie; Jody Spottswood; Jeff > > > Ullrich; Jeff Smith (E-mail); Grant Johnson; Dutch Quigley; Dan > > > Wienserski; Chris Kiske (Home); BJ Naman; Andy Reynolds; Chris Kiske > > > (Work) > > > Subject: Franchise Players and the Draft > > > > > > > > > The following is the list of franchise players that have been kept: > > > > > > Grant Johnson - Eddie George > > > Jeff Smith - Peyton Manning > > > Michael Deluke - Marshall Faulk > > > Michael Currie - Edgerrian James > > > Jeff Ullrich - Kurt Warner > > > > > > I know this was brought up last year and we kind of decided much of > > > nothing...but does anyone object to going to a snake system for the > draft. > > > 1-14, 14-1 for the whole draft? We will still have a supplemental > round > > > for those that do not keep franchise players. Then the non-franchise > > > teams will pick in opposite order of the supplemental round for round > > > one...thus if you pick first in the supplemental round, you will pick > last > > > (for those that did not keep franchise players) in the first round. > Then, > > > the teams that kept franchise players will be randomly selected to > pick > at > > > the end of the first round. After the first round, the draft will > snake > > > back the other way with the last pick in the first round getting the > first > > > pick in the second round and the draft will continue in this snake > order > > > until the end of the draft. Let me know what you think or if you are > > > confused. > > > > > > See everyone at the draft!!! > > > > > > Kevin > > > > > >
-----Original Message----- From: Enron Announcements/Corp/Enron@ENRON [mailto:[email protected]] On Behalf Of Ken Lay - Chairman & CEO@ENRON Sent: Thursday, September 13, 2001 8:09 PM To: All Enron Worldwide@ENRON Subject: Our Response to the U.S. Tragedy The tragedy of Tuesday, September 11 will serve as an unforgettable reminder to people all over the world of what is truly important and of life's fragility. My heartfelt sympathies go out to the families and friends of all the people whose lives were taken in this senseless and horrific attack. I ask that all of you keep our deceased colleague Nick Humber and his family in your thoughts and prayers. Tragically, Nick, a director with Enron Wind, was on one of the planes hijacked on Tuesday. To help with relief efforts in New York and Washington, D.C., Enron will make a total contribution of $1 million dollars to be split equally between the American Red Cross and the New York Firefighters and Police Officers Fund. Many of you have expressed an interest in more personal involvement and I want you to be aware of some of the options available. I encourage you to support those impacted by this tragedy by donating to relief efforts, and to take advantage of our Matching Gift Program to double the impact of your individual donation. Because of the significance of this tragic event, Enron will match your contribution 2 for 1. How to Help ? Please go to www.easymatch.com/enron. Once there, click on "Disaster Relief" (located in the middle of the top of the page). Please choose from the list of non-profits that are accepting donations to help with this effort. Any donations made to aid with disaster relief will not be counted toward the annual $15,000 Matching Gift limit. You will need your GIS number to do this (it begins with a 9). If you are unsure of your GIS number, please contact the HR GIM helpdesk at 713-853-5666. ? We will have red, white and blue striped ribbons in Houston for employees to pin on their shirts in memory of those who lost their lives, in honor of those who survived, and for their families. Donations to the New York Firefighters and Police Officers Fund and other organizations are being accepted in exchange for the ribbons. Enron will also match these donations. The ribbons are available tomorrow from 9:00 - 11:00 a.m. at the InfoZone, which is located by the down escalator in the lobby. For any other employees who would like to make donations, please go to the above website. ? Enron employees are generously giving blood, and we will continue to work with relief efforts to ensure that employees who want to give, have the ability to do so. If you have questions, call 713-853-6100. ? President Bush has declared Friday a day of "National Prayer and Remembrance," and is calling on Americans to use their lunch breaks to go to places of worship to pray for victims and their families. Following is a list of websites with additional information: o <http://abclocal.go.com/ktrk/> o <http://www.chron.com/content/community/religious/> o If you are looking for a service within walking distance of the Enron building, First United Methodist Church (corner of Main and Clay) and Antioch Missionary Baptist Church will hold prayer services on Friday. First United Methodist Church will have services at 11:00 a.m., noon and 1:00 p.m. Antioch Missionary Baptist Church will have a service at noon. o If you are interested in attending a service and don't work in this area, please check your local television websites for more information. ? For Houston employees, a citywide candlelight vigil will be held on the steps of City Hall in Downtown Houston at 7 p.m. tomorrow night. Mayor Lee Brown will be speaking. ? At 10:00 a.m. (Central) on Monday, September 17th, in Enron facilities around the world, we will have a moment of silence in memory of those whose lives have been tragically taken. We ask that you put down the phone, turn away from your computer and dedicate a personal moment of silence together with your co-workers. ? We encourage all U.S. based employees to wear red, white or blue shirts on Monday. For Counseling Assistance ? For employees in Houston, we have an on-site employee assistance counselor in the building that you can reach by calling 713-853-6057. If you are not located in Houston or if you or a family member would prefer an off-site counselor, you can call the 24-hour Employee Assistance Program number 1-800-345-1391. ? Employees outside the U.S. can also contact 713-853-6057 directly. United HealthGroup (Enron's medical network administrator) has provided free access to their National Disaster Line for counseling service to any person. That number is 800-268-1026. We are also working to bring crisis counseling to any work location that has a need. This is an agonizing time for our nation and it is hard for us all. In addition to the financial and human support we are extending to those in need, it is imperative that we at Enron continue to safely and reliably serve our customers in the U.S. and around the world. We know it is difficult but we must demonstrate on-going stability and strength at Enron, as this will serve as a signal that the ideals upon which America was founded cannot be diminished. Again, our hearts go out to the families and friends of those who have lost loved ones in this tragedy. Please continue to watch your e-mail for more information.
What's up? ----- Forwarded by Richard B Sanders/HOU/ECT on 06/04/2001 07:01 AM ----- [email protected] 06/01/2001 08:12 PM To: [email protected], [email protected] cc: Subject: Re: McConville Consulting Agreement I haven't received this agreement yet. Steve >>> "[email protected]" 05/25/01 04:34AM >>> By copy of this e-mail, I have asked Linda Guinn(713-853-6104) to get you a copy of the McConville consulting agreement asap. showard@agsk. com To: [email protected] cc: 05/24/2001 Subject: McConville Consulting Agreement 07:33 PM Gary Grote is okay on producing this agreement. Can you send me a copy? Thanks Steve ................................................ ALSCHULER GROSSMAN STEIN & KAHAN LLP ATTORNEYS AT LAW www.agsk.com 2049 Century Park East Thirty-Ninth Floor Los Angeles, CA 90067-3213 Tel 310-277-1226 Fax 310-552-6077 This transmission is intended only for the use of the addressee and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately via e-mail at [email protected] or by telephone at 310-277-1226. Thank you. ............................................... ................................................ ALSCHULER GROSSMAN STEIN & KAHAN LLP ATTORNEYS AT LAW www.agsk.com 2049 Century Park East Thirty-Ninth Floor Los Angeles, CA 90067-3213 Tel 310-277-1226 Fax 310-552-6077 This transmission is intended only for the use of the addressee and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately via e-mail at [email protected] or by telephone at 310-277-1226. Thank you. ...............................................
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