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------------------------------------------------------------------------------ ------------------------ W E E K E N D S Y S T E M S A V A I L A B I L I T Y F O R March 23, 2001 5:00pm through March 26, 2001 12:00am ------------------------------------------------------------------------------ ------------------------ SCHEDULED SYSTEM OUTAGES: ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages. AZURIX: No Scheduled Outages. EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages. EDI SERVER: No Scheduled Outages. ENRON NORTH AMERICAN LANS: Impact: CORP Time: Fri 3/23/2001 at 5:00:00 PM CT thru Fri 3/23/2001 at 5:15:00 PM CT Fri 3/23/2001 at 3:00:00 PM PT thru Fri 3/23/2001 at 3:15:00 PM PT Fri 3/23/2001 at 11:00:00 PM London thru Fri 3/23/2001 at 11:15:00 PM London Outage: Decommission CORPHOU-02B Environments Impacted: Corp Logins Purpose: The SAM size on this DC has increased beyond recommended limits. There is no real reason for us to keep this DC online anymore. Backout: Bring back online Contact(s): Keith Meurer 713-853-1743 Impact: ENS Time: Sun 3/25/2001 at 3:00:00 PM CT thru Sun 3/25/2001 at 5:00:00 PM CT Sun 3/25/2001 at 1:00:00 PM PT thru Sun 3/25/2001 at 3:00:00 PM PT Sun 3/25/2001 at 9:00:00 PM London thru Sun 3/25/2001 at 11:00:00 PM London Outage: Change VLANS for the EES networks at Ardmore Environments Impacted: EES Purpose: Part of the re-design, due to problems with the OC3's Backout: change vlans back to the old numbers Contact(s): Scott Shishido 713-853-3780 Impact: ENS Time: Fri 3/23/2001 at 11:00:00 PM CT thru Sat 3/24/2001 at 12:00:00 AM CT Fri 3/23/2001 at 9:00:00 PM PT thru Fri 3/23/2001 at 10:00:00 PM PT Sat 3/24/2001 at 5:00:00 AM London thru Sat 3/24/2001 at 6:00:00 AM London Outage: Add redundancy to the ETS server network Environments Impacted: ETS Purpose: Currently the ETS server network 172.30.10.0 has no redundant links the the routers. If one switch goes down the entire network goes down. Backout: none Contact(s): Scott Shishido 713-853-3780 FIELD SERVICES: No Scheduled Outages. INTERNET: Impact: CORP Time: Sat 3/24/2001 at 11:00:00 PM CT thru Sun 3/25/2001 at 12:00:00 AM CT Sat 3/24/2001 at 9:00:00 PM PT thru Sat 3/24/2001 at 10:00:00 PM PT Sun 3/25/2001 at 5:00:00 AM London thru Sun 3/25/2001 at 6:00:00 AM London Outage: Replace ENRON.COM edge routers Environments Impacted: Internet Purpose: Replace hardware with faster processing units. IOS Software upgrade to remove potential security vulnerability. Backout: Put existing hardware back in production. Contact(s): John Shupak 713-853-7943 Bryan Aubuchon 713-345-8446 MESSAGING: No Scheduled Outages. MARKET DATA: Impact: Market Data Time: Fri 3/23/2001 at 6:00:00 PM CT thru Fri 3/23/2001 at 9:45:00 PM CT Fri 3/23/2001 at 4:00:00 PM PT thru Fri 3/23/2001 at 7:45:00 PM PT Sat 3/24/2001 at 12:00:00 AM London thru Sat 3/24/2001 at 3:45:00 AM London Outage: CQG_DDA Upgrade Environments Impacted: CQG Digital users Purpose: Enable migration off of Legacy satellite systems. Backout: N/A Contact(s): John Sieckman 713-345-7862 NT: No Scheduled Outages. OS/2: No Scheduled Outages. OTHER SYSTEMS: Impact: CORP Time: Fri 3/23/2001 at 5:00:00 PM CT thru Fri 3/23/2001 at 6:00:00 PM CT Fri 3/23/2001 at 3:00:00 PM PT thru Fri 3/23/2001 at 4:00:00 PM PT Fri 3/23/2001 at 11:00:00 PM London thru Sat 3/24/2001 at 12:00:00 AM Outage: Cleanup CDPD (Air Card) Configuration Environments Impacted: Corp. Purpose: Running out of available addresses for air cards. Clean up configuration on CDPD router/ Change the method used to translate the aircards IP addresses. See Change Request # JW918 for IP addresses. Backout: apply old config Contact(s): Jon Werner 713-853-6742 Impact: CORP Time: Fri 3/23/2001 at 5:00:00 PM CT thru Fri 3/23/2001 at 6:00:00 PM CT Fri 3/23/2001 at 3:00:00 PM PT thru Fri 3/23/2001 at 4:00:00 PM PT Fri 3/23/2001 at 11:00:00 PM London thru Sat 3/24/2001 at 12:00:00 AM London Outage: SysAdmiral Master Server Move Environments Impacted: Corp Purpose: This server move is to replace the failed server that occurred last weekend. The current location for the master machine online is in 3448. Since it is on a development segment it has to be moved back into the production area. We will need only one hour to move the machine since it it is replacing a 1600 with a 1600. Rails and racking can be reused without rewiring anything. Backout: Rerack in current location. Contact(s): Rusty Cheves 713-345-3798 Impact: CORP Time: Fri 3/23/2001 at 5:00:00 PM CT thru Sat 3/24/2001 at 12:00:00 PM CT Fri 3/23/2001 at 3:00:00 PM PT thru Sat 3/24/2001 at 10:00:00 AM PT Fri 3/23/2001 at 11:00:00 PM London thru Sat 3/24/2001 at 6:00:00 PM London Outage: OS and Disk upgrade, patch maintenance and migration to T-3 for server titania. Environments Impacted: Oracle development Purpose: Need for additional storage and improved performance. Backout: shutdown the system reconnect the old disks restore the old OS from tape Contact(s): Malcolm Wells 713-345-3716 SITARA: No Scheduled Outages. SUN/OSS SYSTEM: No Scheduled Outages. TELEPHONY: No Scheduled Outages TERMINAL SERVER: No Scheduled Outages. UNIFY: No Scheduled Outages. ------------------------------------------------------------------------------ ------------------------------------------------------- FOR ASSISTANCE (713) 853-1411 Enron Resolution Center (713) 853-5536 Information Risk Management Specific Help: Unify On-Call (713) 284-3757 [Pager] Sitara On-Call (713) 288-0101 [Pager] RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager] OSS/UA4/TARP (713) 285-3165 [Pager] CPR (713) 284-4175 [Pager] EDI Support (713) 327-3893 [Pager] EES Help Desk (713)853-9797 OR (888)853-9797
David, Based on the e-mail that I sent out on June 30th (and that I have attached below), I was under the presumption that the Enron party to the GTCs would be Enron Australia Finance Pty Ltd. This is because we are dealing with Australian weather derivatives and I was presuming (right or wrong) that such derivatives would be on the books of the Sydney trading office. Please let me know if this is not the case. Best regards, Susan David Minns 07/06/2000 12:35 AM To: John Viverito/Corp/Enron@ENRON cc: Jonathan Whitehead/AP/Enron@Enron, Nicholas.O'[email protected]@ENRON, Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Taylor@ECT Subject: Re: EOL GTC's for Weather Derivatives In Australia John please see attached GTCs for Australian weather. They are essentially the same as the example that was forwarded to B&M when they got the brief to advise on weather derivatives last month. I understand that B & M are having second thoughts on the gambling question and are due to come in with an advice on the point. There is also a question as to whether the Enron party will be Enron Australia Finance Pty. Ltd. or Enron Japan KK. From a tax perspective Susan what would you prefer? On a related issue what Enron company is on the Passwords Applications and ETAs that are being sent out? Although from a legal perspective it does not matter it may increase acceptance if it were Enron Japan KK. From: John Viverito@ENRON on 05-07-2000 05:19 CDT To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Jonathan Whitehead/AP/Enron@Enron, Nicholas.O'[email protected] Subject: EOL GTC's for Weather Derivatives In Australia David- Please forward an electronic copy of the EOL GTC's for weather derivatives in Australia. Thanks for your assistance. Cheers, John Susan Musch 06/30/2000 11:30 AM To: Jeff Blumenthal@ECT cc: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen H Douglas@ECT, Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT (bcc: Susan Musch/ENRON_DEVELOPMENT) Subject: Tax Advice on AUS and JPN CDD and HDD Weather Swaps Below is a summary of the tax advice that I received from our outside advisors in Tokyo and Sydney on the Sydney trading office entering into cash settled weather derivative trades with Japanese counterparties: Japanese Tax Advice 1. Swap, Options and Other Financial Derivative Transactions Based on the current practice of the Japanese tax authorities, standard swaps, options and similar financial transactions with symmetrical payment flows should not be subject to withholding tax. However, to the extent that Enron transactions involve asymmetrical payments, concern exists that imputed interest from the imbedded loan could be subject to interest withholding tax. 2. Consumption Tax (VAT) and Excise Taxes Although Japan imposes a 5% consumption tax (VAT), financial transactions are generally not subject to the consumption tax, so cash settled derivative transactions should generally not be subject to consumption tax. Japan imposes various kinds of excise taxes. These excise taxes generally apply to physical importation and domestic sale and delivery of covered products and should generally not apply to purely financial derivatives transactions which reference commodity prices. 3. Collateral for Derivatives Transactions If Enron entities will take collateral from Japan-based customers in connection with derivative transactions, depending upon the specific arrangements, withholding tax liability might arise. For example, if an Enron trading entity takes cash collateral from a Japan-based customer and pays interest on it, such interest payments could be subject to local withholding tax when paid to the Japanese resident customer. Australian Tax Advice 1. Swap, Options and Other Financial Derivative Transactions Based on the summaries of the products attached to Justin Timothy,s June 12th e-mail to Mario Parra Cardoso and Dale Neuner: (1) the swap income or deduction should be recognized on a due and payable basis (rather than on an accrual basis over the term of the swap), and (2) there should not be any interest withholding tax imposed on the swap payments because there does not appear to be any linkage between the swap payment and "interest" as defined for Australian tax purposes. Note that there is an Australian tax proposal to impose withholding tax on other Australian source income. Although no details are yet available, it is expected that the Australian government will not impose withholding tax where the income would constitute "business profits" of any entity in a treaty country (such as Japan) which does not have permanent establishment in Australia. Thus, based on the current proposal, it is unlikely that such a withholding tax, if enacted, would apply to the swap payments. However, this could change depending upon the rules actually enacted. 2. GST (VAT) Effective July 1, 2000, the Goods and Services Tax ("GST") will tax at a 10% rate the consumption of most goods and services in Australia. (It does not apply to consumption outside of Australia, e.g. exports.) A swap payment to a Japanese counterparty will be GST-free. This means that the Australian trading office would be able to claim refunds on a portion of the GST paid on its rents and other expenses. Please let me know if you have any questions or need any additional information. Best regards, Susan
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Diane, there are lots of emails about this topic. Would you please print them and collect them in a file labelled for Tobias? Thanks. MHC -----Original Message----- From: Butcher, Sharon Sent: Wednesday, August 08, 2001 6:25 PM To: Mesquita, Ross Cc: Seleznov, Ryan; Richter, Brad; Cash, Michelle Subject: RE: Compliance with Enron Code of Ethics, Dealbench Dear Ross: Thanks. I believe that's a good idea. If he is unable to find a job within Enron via redeployment, this may be an opportunity for him. Sharon -----Original Message----- From: Mesquita, Ross Sent: Wednesday, August 08, 2001 6:22 PM To: Butcher, Sharon Cc: Seleznov, Ryan; Richter, Brad; Cash, Michelle Subject: RE: Compliance with Enron Code of Ethics, Dealbench Sharon, Tobias is not associated with any of the team with whom we have scheduled a meeting. However, I would be happy to add his team to the list of parties with which I discuss a potential sales transaction. Regards, Ross -----Original Message----- From: Butcher, Sharon Sent: Wednesday, August 08, 2001 5:08 PM To: Mesquita, Ross Cc: Seleznov, Ryan; Richter, Brad; Cash, Michelle Subject: RE: Compliance with Enron Code of Ethics, Dealbench Dear Ross: Thanks for the information. It does not appear that there would be a conflict of interest if Mr. Munk puts together a team for the propose of discussing the transaction and ultimately purchasing DealBench.com. Is he associated with any of the teams with whom you are meeting to discuss the transaction? Thanks. Sharon -----Original Message----- From: Mesquita, Ross Sent: Wednesday, August 08, 2001 9:28 AM To: Butcher, Sharon Cc: Seleznov, Ryan; Richter, Brad; Cash, Michelle Subject: RE: Compliance with Enron Code of Ethics, Dealbench Sharon: Enron Net Works is currently exploring alternatives as it relates to DealBench.com, which would include selling the platform to an independent third party. I work for Brad Richter and have been asked to lead/manage the sales effort. We have already begun to initiate discussions with third parties as it relates to the sale of DealBench. A team from FreeMarkets, Inc. will meet with us next Tuesday to discuss such a transaction, and we are currently setting up a similar meeting with PurchasePro Com Inc. We have also targeted several other companies that may be interested in buying DealBench and will be discussing the opportunity with them in the near future. Please let me know if you need any additional information or clarification as it relates to your questions below. Regards, Ross Mesquita x3-3288 -----Original Message----- From: Richter, Brad Sent: Wednesday, August 08, 2001 2:25 AM To: Mesquita, Ross Cc: Seleznov, Ryan Subject: FW: Compliance with Enron Code of Ethics, Dealbench Importance: High Ross-- Please answer the inquiries below. You know our position. Thanks, Brad -----Original Message----- From: Butcher, Sharon Sent: Tuesday, August 07, 2001 8:43 PM To: Richter, Brad; Cash, Michelle Subject: FW: Compliance with Enron Code of Ethics, Dealbench Importance: High Dear Brad and Michelle: I have reviewed the letter from Tobias Munk. Has Enron determined that it will no longer be involved with DealBench.com and given permission to allow Mr. Munk to independently raise funds for a proposed management buy-out or sale to an independent third party? or Has Enron determined that it will not go forward with DealBench.com at this time, but it is possible in the future that it will still be involved with DealBench.com? I note that Mr. Munk states that Enron is actively seeking a buyer for the platform. What discussions have taken place with respect to a transaction for the purchase of DealBench.com. Regardless of Mr. Munk's intentions, as stated in his letter of August 7, 2001, Enron must make a determination to allow Mr. Munk to use Enron's idea, etc. for DealBench.com as it is proprietary and belongs to Enron and not Mr. Munk. If Enron has made the decision to sell DealBench.com and Mr. Munk, now no longer an Enron employee, is able to put together a group to purchase this Internet platform, I don't believe that this would constitute a violation of the Conflict of Interests Policy as described in Enron's Code of Ethics. It appears that Mr. Munk is requesting permission from Enron to move forward with respect to DealBench.com as described in his letter. Please confirm Enron's intentions with respect to DealBench. In addition, please advise of any communications/discussions with Mr. Munk regarding DealBench.com and his ability to be a part of DealBench.com in the event he finds a buyer or becomes part of a group which purchases DealBench.com. Thanks. Sharon -----Original Message----- From: Cash, Michelle Sent: Tuesday, August 07, 2001 2:09 PM To: Butcher, Sharon Subject: FW: Compliance with Enron Code of Ethics, Dealbench Importance: High What do you think? MHC -----Original Message----- From: Seleznov, Ryan Sent: Tuesday, August 07, 2001 1:54 PM To: Cash, Michelle Subject: FW: Compliance with Enron Code of Ethics, Dealbench Importance: High Michelle, please comment. -----Original Message----- From: Richter, Brad Sent: Tuesday, August 07, 2001 12:30 PM To: Seleznov, Ryan Subject: FW: Compliance with Enron Code of Ethics, Dealbench Please send me an email response about whether you and Michelle Cash are OK with what he's written. After that, what do we do? Brad -----Original Message----- From: Munk, Tobias Sent: Tuesday, August 07, 2001 6:19 PM To: Seleznov, Ryan; Richter, Brad Subject: Compliance with Enron Code of Ethics, Dealbench After a conversation with Ryan Seleznov I herewith like disclose in writing my intentions in respect to Dealbench. Please see attached Word file Best regards Tobias Munk << File: Enron Code of Ethics Compliance.doc >>
As he said in the note, we can wait on the tile. We'll contact our pal karen, the tiling queen, and report back. sound reasonable? Nancy Sellers <[email protected]> 02/15/2001 10:14 AM To: "'Cameron Sellers'" <[email protected]>, "'[email protected]'" <[email protected]>, Prentice Sellers <[email protected]> cc: [email protected], Nancy Sellers <[email protected]> Subject: RE: FW: Roseman Creek fireplace I gave dad a check this morning for $700 to get this underway. What about the tile? -----Original Message----- From: Cameron Sellers [mailto:[email protected]] Sent: Thursday, February 15, 2001 7:52 AM To: '[email protected]'; Prentice Sellers Cc: [email protected]; [email protected]; Nancy Sellers Subject: RE: FW: Roseman Creek fireplace Agree with PP's assessment also. I don't always agree with PP's assessment. Cameron Sellers Vice President, Business Development PERFECT 1860 Embarcadero Road - Suite 210 Palo Alto, CA 94303 [email protected] 650.798.3366 (direct dial) 650.269.3366 (cell) 650.858.1095 (fax) -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Wednesday, February 14, 2001 4:56 PM To: Prentice Sellers Cc: Cameron Sellers; [email protected]; [email protected]; Nancy Sellers Subject: Re: FW: Roseman Creek fireplace Wow. This guy sounds impressive! I agree with Prentice's assessment (of course, I always agree with Prentice's assessment). Best, Jeff Happy Valentine's Day to all. Prentice Sellers <[email protected] To: <[email protected]>, Nancy Sellers keley.EDU> <[email protected]>, Cameron Sellers <[email protected]>, [email protected] 02/14/2001 01:59 cc: PM Subject: Re: FW: Roseman Creek fireplace This guy sounds like he knows what he's talking about. I suggest we get the repairs done immediately and leave the tile for later. Can you find out if he can finish before next weekend whatever needs to be done to have a fire safely? I've been planning a trip with two friends of mine from school for a long time and it would really be a bummer to have to cancel it. Thanks for working on this. Also, about the $$, mom should have put aside $10,000 from grandpa ($5,000 from me and Cameron each) that was supposed to go for replacing the roof. This is much more important, so I suggest using that money. Finally, we can get Jeff's friend Karen to help us with the tiles. We will talk to her. At 01:43 PM 2/14/2001 -0800, you wrote: >Dotty: Thought you and Jack might be interested in this report. > >Jeff: How do we go about getting in touch with the person you mentioned to >do the tiles? > >-----Original Message----- >From: gmc [mailto:[email protected]] >Sent: Wednesday, February 14, 2001 12:30 PM >To: [email protected] >Subject: Roseman Creek fireplace > >Hello, Eldon... >Your fireplace was improperly installed, and the fire was caused by embers >falling in between the fireplace and the hearth, igniting the plywood >underlayment and the wooden framing installed in front of the face and the >header above the fireplace opening. There should be no combustible material >there, and sooner or later a fire will result. You are fortunate the result >was not worse. The important metal underlayment supplied with the fireplace >was not installed. The fireplace must be moved about 5" up to the face of >the wall. All the tile must be removed and replaced with non combustible >underlayment. The chimney seems ok but you must replace the cap and the >chimney is no longer available, necessitating fireplace replacement if it >ever becomes necessary due to corrosion. The insulation is probably wet, >which happens over the years and it settles, leaving hot spots in the >chimney. At least yours is out in the air, but it should be checked, and >will be if I do this job. >You will provide the tile, and bear in mind that some will have to be cut, >so avoid small tiles. You will also provide sanded grout and grout >additive, and a mastic (25#) such as epoxy "Elastobon". Your tile supplier >will know what we're talking about. I will get all other materials locally. >You are looking at, I estimate, $2,400.00 - $3,200.00 plus materials. I >prefer to work jobs like this at Time and Materials, based on my labor rate >of $50.00 per man hour. If I have to bid this job, it will be suitably >inflated to deal with unforeseen variables. I have been here for 26 years >without any construction related problems, and have lots of references. >The materials will consist of cedar shingles, plywood, roofing shingles >(asphalt), glue, Wonder Board tile underlayment, stainless steel cap, 2X4's, >screws, plumbing fittings for the gas line, sheet metal, and incidentals. >My estimate is done as accurately as possible, but unforeseen problems could >change the time I've estimated for the job. The materials will be about >$700.00, and this is the deposit I will require. Let me know what the ETA >of your tile will be. If you prefer, I can do the job without the tile, >leaving the Wonder Board tile underlayment exposed, which is totally safe, >and you can decide upon tile later, after looking at the site after the >fireplace is moved. I will need a half square min. to do the roof of the >fireplace pop out. >Regards, >Will Guyan
-----Original Message----- From: Joel Greene <[email protected]>@ENRON Sent: Tuesday, November 13, 2001 1:29 PM To: 'PETE FROST'; 'JAMES MORIARTY'; 'JANICE E. ROGERS'; 'DIANE TOM'; 'JAY GOLUB'; 'BARBARA WHITTAKER'; 'JAMES MCGREW'; 'CYNTHIA CORCORAN'; 'L.W. SMITH'; 'PETER C. KISSEL'; 'GORDON SMITH'; 'BARBARA JOST'; 'MIKE MCELRATH'; 'SARAH TOMALTY'; 'ED ROSS'; 'JUNE SUWARA'; 'DAVID HUARD'; 'JOHN R. STAFFIER'; 'KATHLEEN L. MAZURE'; 'CATHY BULF'; 'JOHN GREGG'; 'JOHN P. BEALL'; 'KATHIE EDWARDS'; 'PAUL KEELER'; 'PETER CERVIN'; 'FREDERICK T. KOLB'; 'STEVE TARPEY'; 'BRUCE CONNELL'; 'DIANE MCVICKER'; Joel Greene; 'TOM CARLSON'; 'KELLY A. DALY'; 'ELISABETH R. MYERS-KERBAL'; 'DOUG JOHN'; 'LUIS MANUEL PADILLA'; 'JAMES TRIFON'; 'DEBBIE SWANSTORM'; 'DOUG CANTER'; 'NORMAN PEDERSEN'; 'ROBERT PETTINATO'; 'VIRGIL SPURGEON'; 'DONNA FULTON'; 'SUSAN GINSBERG'; 'KURT L. KRIEGER'; 'SHARON ROYKA'; 'Jonathan Bromson'; 'SANDRA ROVETTI'; 'LINDSEY HOW-DOWNING'; 'SALLE E. YOO'; 'CRAIG CHANCELLOR'; 'WILLIAM L. SLOVER'; 'ROBERT HEWLETT'; 'JANICE ALWARD'; 'LAURIE J. HAMILTON'; 'JOHN R. LILYESTROM'; 'GEORGETTA BAKER'; 'PEDRO SERRANO, JR'; 'JEFF E. PARKER'; 'HAROLD ORNDORFF'; 'CARLA JOHNSON'; 'MIKE LANGSTON'; 'SEAN BREEN'; 'JEFF GOFORTH'; 'AMY SHERIDAN'; 'MARK FENTON'; 'DAVE KIRKLAND'; 'MELISSA MAXWELL'; 'Paul B. Mohler'; 'JOHN P. ARMATO'; 'ROB DAVIS'; 'AMY GOLD'; 'FRANK LINDH'; 'CHRIS SCHINDLER'; 'KIRBY BOSLEY'; 'DEBORAH CARPENTIER'; 'ROBERT GRAY'; 'PATRICK NEVINS'; 'GARY VENZ'; 'JOSEPH S. KOURY'; 'JOHN COGAN'; 'SUSAN JONES'; 'PAUL GENDRON'; 'TERRI DICKERSON'; 'JACK CASHIN'; 'SCOTT WALTON'; 'JIM ADAMS'; 'THOMAS CUBBAGE'; 'BILL LANSINGER'; 'SCOTT MERTZ'; 'LARRY BLACK'; Tholt, Jane M.; Cantrell, Rebecca W.; 'JIM DOERING'; 'RANDALL RICH'; 'SANDRA E. RIZZO'; 'CURT BRECHTE'; 'GREG LANDER'; 'KARILEE RAMALEY'; 'GARY DUEDE'; 'DONALD G. AVERY'; 'TED MCMURTRIE'; 'DOUGLAS K. PORTER'; 'TIM MILLER'; 'PENNY BARRY'; 'KENT PRICE'; 'JOHN FLOOM'; 'KIM M. CLARK'; 'STEVE LEVINE'; 'PERRY BROWN'; 'FRANK GURLEY'; 'PAULA CRUNKILTON'; 'ELIZABETH ZERBY'; 'INGRID OLSON'; 'ROBERT PETROCELLI'; 'ELLEN SCHALL'; 'ROBERT CASHDOLLAR'; 'CRAIG LIPKE' Cc: Glen Reeves (E-mail); William Healy (E-mail); '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' Subject: El Paso Natural Gas Company Dockets RP00-336, RP01-484, RP01-486, RP00-139 Importance: High Salt River Project, in an effort to bring resolution to the mainline and receipt point allocation issues pending in the above-captioned proceedings, is filing today (and serving hard copies of) the attached "Motion of SRP for Adoption of Strawman Alternative to March 28, 2000 Proposal of El Paso Natural Gas Company". Unlike any other proposal before it, it seeks to weave into one workable solution, the concerns raised by shippers in their initial and reply comments filed in the Order 637 proceeding, as well as address the 3 complaints. It is a share-the-pain proposal among CD - Converted FR - and El Paso. Under it, FR shippers would convert to CDs at levels reflecting actual usage over the past 5 years, weighted to the present. It assures each westward flowing firm shipper, based on the current physical mainline capacity (including L. 2000), 93.1%(winter) and 94.2% (summer) of their contractual entitlement. On a daily basis, all westward FT shippers are assured of receiving approximately 60% of their 93.1 and 94.2% allocation from the San Juan. FT-2 shippers would continue to be served off the top. This Strawman adopts the in-line pooling methodology set forth in SoCal Gas' initial comments. It includes North and South system segmentation rights, and narrowly defined demand charge credits for unprovided capacity as long as there is a shortfall. Provision is made to encourage turn-back of capacity and to have capacity under expired contracts dedicated by El Paso to meeting the approximately 7% shortfall. Provision is also made to treat each primary delivery point as a receipt point, and to give priority to Alternate Receipt- to- Primary Delivery point in the systemwide scheduling process, all intended to encourage a strong supplemental market to meet peak seasonal needs. This Strawman Alternative is not filed as an offer of settlement, but as a basis for a merits decision, eliminating the need for lengthy evidentiary hearings, and providing certainty and flexibility to the system once implemented. Alternatively, we have left it to the Commission to decide whether other procedures should be adopted. Because it is a motion, it may be responded to within 15 days of filing. SRP strongly urges each shipper and state commission to contact SRP for answers to any questions before taking a position in response to the motion. Any shipper that has questions but does not seek answers, but merely sticks to their litigation position will only be delaying resolution. This proposal is a viable compromise...everyone gains and everyone loses something. That is why it works. We look forward to hearing from you and reading your constructive comments. Joel Greene <<SRPstrawman.cvr.doc>> <<SRPSTrawmanfiled11-13.doc>> <<Attachment 1 filed 11-13.doc>> <<Attachments 2-12 filed11-13.ppt>> <<Attachment 13 filed 11-13 .xls>> Energy Advocates LLP 202-371-9889 202-371-9025 (fax) [email protected] - SRPstrawman.cvr.doc - SRPSTrawmanfiled11-13.doc - Attachment 1 filed 11-13.doc - Attachments 2-12 filed11-13.ppt - Attachment 13 filed 11-13 .xls
Carlos: I have visited with Lance Schuler on this matter. The kind of provision you are talking about would need to be approved by Mark Metts, Tim Detmering, the President and General Counsel of ENA ( Lance has Haedicke's proxy to sign off for ENA), and the President and General Counsel of every affiliate that would be bound by the provision. I suggest when you get in that you get a copy of the corporate policy on this kind of thing from Lance. I trust all is well with you and your family. Congratulations on the birth. Jeff Carlos Sole@ENRON 04/02/2001 01:40 PM To: Jeffrey T Hodge/HOU/ECT@ECT cc: [email protected], Fred Mitro/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Sharon Hausinger/Enron@EnronXGate Subject: Non-Compete Provision Binding Affiliates Jeff, I am working on the divestiture of a project company that had been developing a power plant site in Illinois and as part of our proposed purchase and sale agreement, the purchaser has requested a non-compete obligation of 2.5 years with respect to the project and project company that we are selling that would bind both ENA and its Affiliates. I recall that previously there was a policy which required certain approvals (including Mark Metts of Corporate Development) for non-compete agreements that were binding on other entities beyond the immediate business unit involved in the transaction. Could you help us out and let us know whom we need to contact. Thanks. PS I am working on a legal risk memo for this transaction and will forward it to you a draft later today or early tomorrow as we are hoping to DASH and close on it by the end of this week. Section 7.9 Due Diligence; Competitive Activities. (a) NOTWITHSTANDING ANYTHING STATED IN THIS PURCHASE AGREEMENT TO THE CONTRARY, PURCHASER AGREES THAT (A) SELLER RELATED PARTIES HAVE MADE NO REPRESENTATIONS, WARRANTIES, COVENANTS OR AGREEMENTS TO OR WITH PURCHASER RELATED PARTIES RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY, OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS PURCHASE AGREEMENT AND (B) PURCHASER RELATED PARTIES HAVE NOT RELIED UPON ANY REPRESENTATIONS, WARRANTIES, COVENANTS OR AGREEMENTS RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY, OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS PURCHASE AGREEMENT. PURCHASER ADDITIONALLY ACKNOWLEDGES THAT IT HAS CONDUCTED ITS OWN EVALUATION OF ALL ASPECTS (INCLUDING, WITHOUT LIMITATION, ENGINEERING, ENVIRONMENTAL, TRANSMISSION, ACCOUNTING, REGULATORY AND LEGAL) OF THE COMPANY AND THE PROJECT, AND IS RELYING SOLELY ON SUCH INVESTIGATION AND EVALUATION OF SUCH MATTERS IN DETERMINING WHETHER OR NOT TO ACQUIRE THE INTERESTS. ADDITIONALLY, PURCHASER HAS INDEPENDENTLY EVALUATED THE RISKS ASSOCIATED WITH THE DEVELOPMENT OF THE PROJECT AND THE PROSPECTS RELATING TO OBTAINING REQUIRED PERMITS, CONTRACTS, AGREEMENTS, AND ARRANGEMENTS NECESSARY FOR THE SUCCESSFUL DEVELOPMENT AND OPERATION THEREOF AND IS RELYING SOLELY ON SUCH INVESTIGATION AND EVALUATION OF SUCH MATTERS IN DETERMINING WHETHER OR NOT TO ACQUIRE THE INTERESTS. PURCHASER ACKNOWLEDGES THAT THE KENDALL PROJECT DOCUMENTS DO NOT REPRESENT OR PROVIDE FOR ALL OF THE ASSETS, PERMITS, CONTRACTS, AND AGREEMENTS NECESSARY FOR THE PROJECT, AND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS PURCHASE AGREEMENT, SELLER MAKES NO REPRESENTATION OR WARRANTY AS TO THE ABILITY OF PURCHASER OR THE COMPANY TO OBTAIN THE SAME OR ANY OF THE TERMS THEREOF, OR AS TO THE ABILITY OR LIKELIHOOD THAT ANY OF THE OTHER PARTIES TO ANY OF SUCH DOCUMENTS SHALL PERFORM IN ACCORDANCE WITH THE TERMS THEREOF. (b) SELLER HEREBY AGREES THAT FOR A PERIOD OF ONE YEAR[THIRTY MONTHS] FOLLOWING THE CLOSING, SELLER WILL NOT DIRECTLY OPPOSE ANY ACTION BY PURCHASER OR THE COMPANY BEFORE THE CITY OF YORKVILLE OR KENDALL COUNTY AUTHORITIES IN CONNECTION WITH THE DEVELOPMENT OF THE PROJECT NO SELLER RELATED PARTY SHALL (i) TAKE OR SUPPORT ANY ACTION INTENDED BY SUCH SELLER RELATED PARTY TO (A) IMPEDE THE COMPANY,S ABILITY TO DEVELOP THE PROJECT IN THE MANNER CONTEMPLATED BY THE KENDALL PROJECT DOCUMENTS, (B) DELAY COMPLETION OF THE PROJECT BY THE COMPANY, OR (C) MATERIALLY INCREASE THE COMPANY,S COST TO COMPLETE THE PROJECT, OR (ii) TAKE OR SUPPORT ANY POSITION IN ANY PROCEEDING BEFORE ANY GOVERNMENTAL AUTHORITY DIRECTLY RELATING TO THE PROJECT THAT (A) CONTESTS OR SEEKS TO CONDITION THE ISSUANCE OF ANY AUTHORIZATION, APPROVAL OR CONSENT SOUGHT BY THE COMPANY OR PURCHASER, (B) CHALLENGES THE VALIDITY OF ANY AUTHORIZATION, APPROVAL OR CONSENT OBTAINED BY THE COMPANY OR PURCHASER OR (C) IS IN OPPOSITION TO THAT ASSERTED BY PURCHASER. EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION 7.9(b) AND SUBJECT TO COMPLIANCE BY SELLER WITH ITS OTHER EXPRESS OBLIGATIONS IN THIS PURCHASE AGREEMENT, (i) EACH OF THE SELLER RELATED PARTIES MAY ENGAGE IN WHATEVER ACTIVITIES IT CHOOSES (INCLUDING DEVELOPMENT ACTIVITIES OR POWER PROJECTS) REGARDLESS OF WHETHER THE SAME ARE COMPETITIVE WITH THE PURCHASER OR THE COMPANY, WITHOUT HAVING OR INCURRING ANY OBLIGATION TO DISCLOSE SUCH ACTIVITIES TO PURCHASER OR THE COMPANY OR TO OFFER TO PURCHASER OR THE COMPANY ANY INTEREST IN SUCH ACTIVITIES AND (ii) NEITHER THIS PURCHASE AGREEMENT NOR ANY ACTIVITY UNDERTAKEN PURSUANT HERETO SHALL PREVENT SELLER RELATED PARTIES FROM ENGAGING IN SUCH ACTIVITIES, OR REQUIRE SELLER RELATED PARTIES TO DISCLOSE SUCH PARTICIPATION TO PURCHASER OR THE COMPANY, AND AS A MATERIAL PART OF THE CONSIDERATION FOR THE EXECUTION OF THIS PURCHASE AGREEMENT BY SELLER, PURCHASER HEREBY WAIVES, RELINQUISHES, AND RENOUNCES ANY SUCH RIGHT OR CLAIM OF NOTICE OR PARTICIPATION IN SUCH ACTIVITIES. Carlos Sole' Senior Counsel Enron North America Corp. 1400 Smith Street Houston, Texas 77002-7361 (713) 345-8191 (phone) 713 646-3393 (fax)
More org stuff. Randy must now be with EWS Legal, since I see he is in an office on 38. Kay ---------------------- Forwarded by Kay Mann/Corp/Enron on 03/19/2001 03:14 PM --------------------------- From: Mark E Haedicke@ECT on 02/21/2001 03:17 PM Sent by: Janette Elbertson@ECT To: Alan Aronowitz/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sandi M Braband/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Teresa G Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Nancy Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ned E Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eddy Daniels/NA/Enron@Enron, Angela Davis/NA/Enron@Enron, Peter del Vecchio/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Andrew Edison/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Chris Gaffney/TOR/ECT@ECT, Robert H George/NA/Enron@Enron, Barbara N Gray/HOU/ECT@ECT, James Grace/Corp/Enron@ENRON, Mark Greenberg/NA/Enron@ENRON, Wayne Gresham/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Karen E Jones/HOU/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Alan Larsen/PDX/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay Mann/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron, Gerald Nemec/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Limor Nissan/NYC/MGUSA@MGUSA, John Novak/SA/Enron@Enron, Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angeline Poon/SIN/ECT@ECT, David Portz/HOU/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Coralina Rivera/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael A Robison/HOU/ECT@ECT, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lance Schuler-Legal/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Carlos Sole/NA/Enron@Enron, Lou Stoler/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van Hooser/HOU/ECT@ECT, John Viverito/Corp/Enron@Enron, Ann Elizabeth White/HOU/ECT@ECT, Randy Young/NA/Enron@Enron, Stuart Zisman/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Kimberlee A Bennick/HOU/ECT@ECT, Martha Braddy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sarah Bruck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Genia FitzGerald/HOU/ECT@ECT, Nony Flores/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT, Ed B Hearn III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Deb Korkmas/HOU/ECT@ECT, Laurie Mayer/HOU/ECT@ECT, Matt Maxwell/Corp/Enron@ENRON, Mary Ogden/HOU/ECT@ECT, Debra Perlingiere/HOU/ECT@ECT, Larry Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert Walker/HOU/ECT@ECT, Kay Young/HOU/ECT@ECT, Merrill W Haas/HOU/ECT@ECT, Andrea Calo/SA/Enron@Enron, Brent Hendry/NA/Enron@Enron, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Greg Johnston/CAL/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Justin Boyd/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Mark Elliott/LON/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Denis O'Connell/LON/ECT@ECT, Robert Quick/LON/ECT@ECT, Paul Simons/LON/ECT@ECT, Martin Rosell/OSL/ECT@ECT, Rahul Saxena/LON/ECT@ECT, Greg Johnston/CAL/ECT@ECT, Mark Powell/CAL/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, Suzanne Adams/HOU/ECT@ECT, Connie Castillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sheri L Cromwell/HOU/ECT@ECT, Margaret Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janette Elbertson/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan M King/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Pat Radford/HOU/ECT@ECT, Becky Spencer/HOU/ECT@ECT, Linda J Simmons/HOU/ECT@ECT, Dina Snow/Corp/Enron@Enron, Twanda Sweet/HOU/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT, Yo Yamanishi/AP/Enron@Enron, Claudia Meraz/HOU/ECT@ECT, Reginald Shanks/HOU/ECT@ECT, Wendi Hoelscher/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, MaryHelen Martinez/NA/Enron@Enron, Sami Arap/SA/Enron@Enron, Luiz Watanabe/SA/Enron@Enron, Andrea Calo/SA/Enron@Enron, Patricia Dutra/SA/Enron@Enron, Karla Azevedo/SA/Enron@Enron, Nancy Muchmore/NA/Enron@Enron, Sandra Vassel/SA/Enron@Enron, Miguel Mendoza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Fabian Valle/SA/Enron@Enron, Paula Porto/SA/Enron@Enron, Celina Ozorio/SA/Enron@Enron, Maria Pia Beccaccini/SA/Enron@Enron cc: Subject: Organizational Announcement We are pleased to announce organizational changes to the Enron South America legal department in response to the recent reorganization and realignment of the principal Enron Wholesale Services business units operating in the region, Enron Americas and Enron Global Assets. Randy Young, currently General Counsel of ESA, will be assuming new responsibilities within Enron. John Novak will become General Counsel of ESA, reporting to Mark Haedicke. The ESA legal department will be responsible for supporting all Enron Americas and Enron Global Assets businesses in the region. Additional legal resources, coordinated by Lance Schuler, will be provided from EWS Legal in Houston to support ESA's wholesale activities. John will also work closely with Bruce Lundstrom, General Counsel of EGA, to coordinate legal support with respect to the EGA businesses in the region. An organizational chart describing the new structure is attached. This new structure will enable us to continue to provide quality legal support across business lines within South America while improving coordination and providing additional support from Houston for Enron's existing operating businesses, as well as the new business development initiatives under way in the region.
Scott Have you had any further news from Mr. Quine following your letter of August 22? If not, we should go ahead with the arbitration proceeding in the US first. By copy, I will ask Paul Goddard to provide you with any further info. direct Thanks. Justin Enron Capital & Trade Resources Corp. From: "Brown, W. Scott" <[email protected]> 29/08/2000 23:00 To: "Justin Boyd (E-mail)" <[email protected]> cc: "Felipe Foy (E-mail)" <[email protected]>, "Mark E. Holsworth (E-mail)" <[email protected]> Subject: FW: enron.metals.com Sorry, here are the attachments. -----Original Message----- From: Brown, W. Scott Sent: Tuesday, August 29, 2000 4:50 PM To: Justin Boyd (E-mail) Cc: Felipe Foy (E-mail); Mark E. Holsworth (E-mail) Subject: FW: enron.metals.com Justin, To update you on the enronmetals domain name matter, attached please find a copy of a fax I received from Peter Quine and my responsive e-mail to him. Since Mr. Quine has not responded back to me, we will proceed with the arbitration proceeding. In that regard, could you please provide with me a brief summary of the relevant facts so that we may prepare the necessary arbitration pleadings. thanks, scott -----Original Message----- From: Brown, W. Scott Sent: Sunday, August 06, 2000 10:19 PM To: '[email protected]' Cc: Mark E. Holsworth (E-mail); Felipe Foy (E-mail) Subject: RE: enron.metals.com Justin, I sent a cease and desist letter to Mr. Peter Quine when I first heard of this matter. He was given until last Friday to respond to me regarding the matter. I have not heard from him and the next step is to initiate an arbitration proceeding in the US as to the enronmetals.com domain name. This procedure is relatively inexpensive and swift, in that we should expect a ruling within 60 days of filing. To help me establish the needed showing of bad faith on the part of Mr. Quine, could you please send me an e-mail with all the relevants facts regarding the cybersquatting of the domain name. Unfortunately, there is not a similar proceeding available for the enronmetals.com.uk domain name. That domain name will involve a legal proceeding in the UK, and I believe it could be quite lengthy. My initial thought was to proceed with the arbitration proceeding in the US first, and then deal with .com.uk domain name laterm if necessary. Please let me know if you wish for me to proceed in a different manner. scott -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Sunday, August 06, 2000 6:02 AM To: [email protected] Subject: Re: enron.metals.com scott - if you could keep me posted as to progress on an ongonig basis thanks justin ---------------------- Forwarded by Justin Boyd/LON/ECT on 06/08/2000 13:08 --------------------------- From: Mark Holsworth@ENRON on 04/08/2000 13:48 CDT To: Justin Boyd/LON/ECT@ECT, [email protected] cc: Subject: Re: enron.metals.com (Document link: Database 'Justin Boyd', View '($Inbox)') I am copying this to Scott Brown. He is supposed to be handling this matter. Justin Boyd@ECT To: cc: 08/04/2000 Subject: 04:10 AM Mark, Would be grateful if you could update me and Barry as to the status of the action taken against the individual who has registered the above as a domain name Thanks Justin - QUINE.TIF ----- Message-ID: <543317BA1813D411A28A0050DA0DEF0B27B771@EXCHANGE_HOU> From: "Brown, W. Scott" <[email protected]> To: "'Peter Quine (E-mail)'" <[email protected]> Subject: Infringement of Enron Corp.'s trade names and intellectual proper ty Date: Tue, 22 Aug 2000 13:32:00 -0500 X-Mailer: Internet Mail Service (5.5.2650.21) <<...OLE_Obj...>> ATTORNEYS AT LAW VINSON & ELKINS L.L.P. Writer's Phone: (713) 758-1105 E-mail: [email protected] Writer's Fax: (713) 615-5803 Web: www.velaw.com August 22, 2000 VIA E-MAIL [email protected] Mr. Peter Quine 9 Park Crescent Brighton e.Sussex BN23HA UK Re: Enron Corp. Dear Mr. Quine: Reference is made to your letter of 7 August 2000. I appreciate your reassurance that it was not your intention to infringe my client's trade names and intellectual property rights. Correspondingly, let me say that I am very aware of all the legal aspects of domain name registration, having worked in this area for quite some time, and I can assure you that the intentional registration of a domain name that includes the trade name or trademark of a third party is an infringement of the rights of such third party. There has been a great deal of litigation in the United States, and I suspect in many other countries as well, regarding such wrongful activities. I am confident that your independent investigations in such matters will support my comments. As I mentioned above, I appreciate the reassurance stated in your letter and my initial letter was not intended to reflect upon your reputation or integrity or method of doing business. However, my client has authorized me to take any and all action necessary to quickly secure the enronmetals.com and enronmetals.com.uk domain names. Consequently, please send me a return e-mail stating whether or not you intend to promptly transfer those domain names to Enron Corp. Very truly yours, /wsb/ W. Scott Brown 0803:4494 Houston:304801.1
----- Forwarded by Jeff Dasovich/NA/Enron on 05/18/2001 05:35 PM ----- "Julia Wright" <[email protected]> 05/17/2001 02:51 PM To: "Marilyn Hawes" <[email protected]>, "Kelly Boyd" <[email protected]>, "Karen Edson (E-mail)" <[email protected]>, "Julee Malinowski-Ball (E-mail)" <[email protected]>, "Joseph Alamo" <[email protected]>, "John White (E-mail)" <[email protected]>, "John Rozsa (E-mail)" <[email protected]>, "John Redding" <[email protected]>, "John Larrea (E-mail)" <[email protected]>, "John Fistolera" <[email protected]>, "John Fielder (E-mail)" <[email protected]>, "John Fielder (E-mail 2)" <[email protected]>, "John Bridges (E-mail)" <[email protected]>, "Joe Ronan" <[email protected]>, "Joe Lyons (E-mail)" <[email protected]>, "Jim Groninger (E-mail)" <[email protected]>, "Jerry Jordan (E-mail)" <[email protected]>, "Jeff Dasovich (E-mail)" <[email protected]>, "Jeannie Cain (E-mail)" <[email protected]>, "Jan Smutny-Jones (E-mail)" <[email protected]>, "James D. Boyd (E-mail)" <[email protected]>, "Jack Stewart (E-mail)" <[email protected]>, "Jack Gualco" <[email protected]>, "Jack Flanigan (E-mail)" <[email protected]>, "Greg Hardy (E-mail)" <[email protected]>, "Grace Davis" <[email protected]>, "Gordon McDonald" <[email protected]>, "Gary Schoonyan" <[email protected]>, "Gary Heath (E-mail)" <[email protected]>, "Evelyn Elsesser (E-mail)" <[email protected]>, "Eloy Garcia (E-mail)" <[email protected]>, "Ed Yates (E-mail)" <[email protected]>, "Doug Fernley" <[email protected]>, "Dorothy Rothrock (E-mail)" <[email protected]>, "Dominic DiMare" <[email protected]>, "Derek Naten" <[email protected]>, "Denny Samuel (E-mail)" <[email protected]>, "Dennis Price (E-mail)" <[email protected]>, "Denice Cazalet" <[email protected]>, "Delbert Fore (E-mail)" <[email protected]>, "Delaney Hunter (E-mail)" <[email protected]>, "Dan Carroll (E-mail)" <[email protected]>, "Craig Brown (E-mail)" <[email protected]>, "Cindy Howell" <[email protected]>, "Charles Bacchi" <[email protected]>, "Catherine Hackney (E-mail)" <[email protected]>, "Carolyn McIntyre (E-mail)" <[email protected]>, "Brian Kelly (E-mail)" <[email protected]>, "Bob Houston (E-mail)" <[email protected]>, "Bob Foster (E-mail)" <[email protected]>, "Bill Keese (E-mail)" <[email protected]>, "Bill Dombrowski (E-mail)" <[email protected]>, "Bill Booth (E-mail)" <[email protected]>, "Becky Kilbourne (E-mail)" <[email protected]>, "Barbara Barkovich (E-mail)" <[email protected]>, "Audra Hartmann (E-mail)" <[email protected]>, "Art Carter (E-mail)" <[email protected]>, "Anna Ferrera (E-mail)" <[email protected]>, "Ann Cohn (E-mail)" <[email protected]>, "Allan Lippincott (E-mail)" <[email protected]>, "Aaron Thomas (E-mail)" <[email protected]> cc: "Karen Jarrell (E-mail)" <[email protected]>, "Karen Koyano" <[email protected]>, "Karen Lindh" <[email protected]>, "Karen Mills (E-mail)" <[email protected]>, "Kari Harteloo" <[email protected]>, "Kassandra Gough (E-mail)" <[email protected]>, "Kathy Brandenburg" <[email protected]>, "Katie Kaplan" <[email protected]>, "Kay Grosulak" <[email protected]>, "Keith McCrea (E-mail)" <[email protected]>, "Kent G. Smith (E-mail)" <[email protected]>, "Kent Palmerton" <[email protected]>, "Kevin Lynch (E-mail 2)" <[email protected]>, "Kevin Lynch (E-mail)" <[email protected]>, "Kevin Smith (E-mail)" <[email protected]>, "Kip Lipper (E-mail)" <[email protected]>, "Lawrence Lingbloom (E-mail)" <[email protected]>, "Lenny Goldberg (E-mail)" <[email protected]>, "Louis Szablya (E-mail)" <[email protected]>, "Marc Joseph (E-mail)" <[email protected]>, "Mark Smith" <[email protected]>, "Marwan Masri (E-mail)" <[email protected]>, "Michael Alcantar (E-mail)" <[email protected]>, "Michael Florio (E-mail)" <[email protected]>, "Mike Kahl (E-mail)" <[email protected]>, "Mona Petrochko" <[email protected]>, "Pete Conaty (E-mail)" <[email protected]>, "Peter Bray (E-mail)" <[email protected]>, "Phil Nails (E-mail)" <[email protected]>, "Phil Stohr (E-mail)" <[email protected]>, "Ralph Cavanagh (E-mail)" <[email protected]>, "Randy Chinn" <[email protected]>, "Ray Thompson (E-mail)" <[email protected]>, "Richard Costigan III ESQ. (E-mail)" <[email protected]>, "Richard Counihan (E-mail)" <[email protected]>, "Richard Mesereau (E-mail)" <[email protected]>, "Robert Berry" <[email protected]>, "Robin Larson (E-mail)" <[email protected]>, "Scott Tomashefsky (E-mail)" <[email protected]>, "Sheryl Carter (E-mail)" <[email protected]>, "Steve Ponder (E-mail)" <[email protected]>, "Steven M. Pike (E-mail)" <[email protected]>, "Stu Wilson (E-mail)" <[email protected]>, "Sue Mara (E-mail)" <[email protected]>, "Susan Reeder" <[email protected]>, "Terry Winter (E-mail)" <[email protected]>, "Tim Schmelzer" <[email protected]>, "Tommy Ross (E-mail)" <[email protected]>, "Tony Braun" <[email protected]>, "Victoria Schaefer" <[email protected]> Subject: FW: Chairman Keese's presentation The attached presentation is for today's CESG meeting. Julia B. Wright Executive Assistant Smith, Kempton & Watts 980 Ninth Street, Suite 1560 Sacramento, CA 95814 (916)446-5508 (916)446-1499 Fax [email protected] - CEC Presentation without NOTES.ppt
Forwarding to you at the request of Christi Nicolay. ---------------------- Forwarded by Linda J Noske/HOU/ECT on 07/05/2001 09:58 AM --------------------------- From: Joe Connor@ENRON on 07/05/2001 09:12 AM To: Tom Chapman/HOU/ECT@ECT cc: Christi L Nicolay/HOU/ECT@ECT Subject: Re: Southern RTO Latest info on Southern for your meeting with Kean and Ed Holland today. ----- Forwarded by Joe Connor/NA/Enron on 07/05/2001 09:10 AM ----- James D Steffes 07/02/2001 04:20 PM To: Steven J Kean/NA/Enron@Enron cc: Richard Shapiro/NA/Enron@Enron, Joe Connor/NA/Enron@Enron Subject: Re: Southern RTO Steve -- If still ok, I think that we should try and establish the date for the Southern - Enron meeting per Joe's message below. It would be good to hear their viewpoints (just to know where they are coming from). Jim ---------------------- Forwarded by James D Steffes/NA/Enron on 07/02/2001 04:18 PM --------------------------- From: Joe Connor on 07/02/2001 10:43 AM To: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON cc: Subject: Re: Southern RTO I met with Andy Dearman and Bill Newman of Southern on Friday. They talked about what is going on with the non-jurisdictional utilities that have signed a MOU to develop a RTO. The group has met a couple of times to discuss the process they will use. Confidentiality agreements have been signed, so no details are available, but they have agreed to a voting structure for the development. Southern has about one third of the votes (and 65%of the assets) and it takes at least two other parties agreeing with Southern to carry a vote. Southern says they spent a lot of time convincing the other parties that Southern was not going to run, or dominate, the process. After that, Southern said the group started to pull together and get organized for the development. They said everyone in the group appeared to be ready to find ways to make the RTO work and resolve the hurdles the non-jurisdictional utilities have been expressing with the development of other RTOs. They said there were some rough spots that had to be resolved and they couldn't be sure agreement would be reached, but at this point there was a lot of cooperation. Andy and Bill wanted to convince me that this was not a delaying tactic by Southern and they were doing everything possible to ensure that a complete RTO filing could be ready by 12/15/01. They also said they thought this is what Ed Holland wanted to discuss with Steve Kean. We talked about how other stakeholders could have input to the development. They said that it was too early to make any commitment, but the group had started thinking about it and they expected an input process to be available by late summer. They said Southern was in favor of some process that would provide stakeholders the opportunity to look at what was being considered and advise the development group as early as possible. They said they understood the difficulty stakeholders had with the approach Southern used in its initial filing and wanted to do it different, but they pointed out again that Southern could not dictate the process that would be allowed by the group. In the meantime, they said if we wanted to provide position papers on any part of the RTO development they would make sure the papers were circulated in the group or we could continue to hold bilateral discussions with them or other members of the development group. Jim, I still think it would be worthwhile to have a meeting between Ed and Steve Kean, and I would include you and invite Andy and Bill to come. I don't think they want to discuss anything technical at this point; they just want to convince Enron that the approach Southern is taking provides the quickest development of a RTO for the Southern area, and they want any help we can give in convincing FERC to let this process run. I also think we need to pass on filing a response to Southern's May 15th status report, either alone or with Alabama Municipal Electric Authority ( Donna, I guess that's who you meant in the memo below, since AEC has signed a MOU with Southern?). I will get in touch with Bob Reilley to find out why we haven't heard from EPSA on its filing. I still think that's the best approach. Donna Fulton 06/28/2001 12:02 PM To: Joe Connor/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT cc: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON Subject: Southern supplemental status report I am attaching the supplemental status report that Southern filed in its RT01-77 on June 20. They have included MOUs with Georgia Transmission Corp, Santee Cooper and Alabama Electric Coop to work on development of an RTO. These are really general, more of the same of what we've seen from Southern. Also we had talked about possible comments on the May 15 Southern filing; Coral was working on comments through EPSA. Nothing has been filed by EPSA yet. Alabama did file comments on the May 15 status report and they have asked that the FERC establish a technical conference to "publicly air and evaluate the alleged governance concerns and the concerns regarding significant delay..." Following a technical conference, they ask for a judge to convene a settlement conference at FERC to "undertake a properly supervised and serious development of an RTO for the SE without further wasted time." At this point we could consider filing comments in support of the Coop comments.
> The following advice for American travellers going to France was compiled > from information provided by the US State Department, the CIA, the US > Chamber of Commerce, the Food and Drug Administration, the Centres for > Disease Control > and some very expensive spy satellites that the French don't know about. > It > is intended as a guide for American travellers only. > > General Overview > > France is a medium-sized foreign country situated in the continent of > Europe. It is an important member of the world community, though not > nearly > as important as it thinks. > It is bounded by Germany, Spain, Switzerland and some smaller nations of > no > particular importance and with not very good shopping. France is a very > old > country with many treasures, such as the Louvre and Eurodisney. Among its > contributions to western civilization are champagne, Camembert cheese and > the guillotine. > Although France likes to think of itself as a modern nation, air > conditioning is little used and it is next to impossible for Americans to > get decent Mexican food. One continuing exasperation for American visitors > is that local people insist on speaking in French, though many will speak > English if shouted at. Watch your money at all times. > > The People > > France has a population of 56 million people. 52 million of these drink > and > smoke (the other 4 million are small children). All French people drive > like lunatics, are dangerously oversexed, and have no concept of standing > patiently in a queue. > The French people are in general gloomy, temperamental, proud, arrogant, > aloof and undisciplined; those are their good points. Most French citizens > are Roman Catholic, though you would hardly guess it from their behaviour. > Many people are communists. > Men sometimes have girls' names like Marie or Michel, and they kiss each > other when they meet. American travellers are advised to travel in groups > and wear baseball caps and colourful trousers for easier recognition. > > Safety > > In general, France is a safe destination, although travellers must be > aware > that from time to time it is invaded by Germany. Traditionally, the French > surrender immediately and, apart from a temporary shortage of Scotch > whisky > and increased difficulty in getting baseball scores and stock market > prices, life for the American visitor generally goes on much as before. A > tunnel > connecting France to Britain beneath the English channel has been opened > in > recent years to make it easier for the French government to flee to London > during future German invasions. > > History > > France historical figures are King Louis, the Huguenots, Joan of Arc, > Jacques Cousteau and Charles de Gaulle, who was President for many years > and is now an airport. The French were never very imaginative and all > their > kings were called Louis. The French enjoyed their Revolution which set up > their republic. It was so successful that they did it again, and again and > again. > > Government > > The French form of government is democratic but noisy. Elections are held > more or less continuously and always result in a draw. > > The French love administration so for government purposes the country is > divided into regions, departments, districts, municipalities, towns, > communes, villages, cafes, and telephone kiosks. Each of these has its own > government and elections. Parliament consists of two chambers, the Upper > and Lower, though confusingly they are both on the ground floor, and whose > members are either Gaullists or Communists, neither of whom should be > trusted by the traveller. > > Parliament's principal occupation is testing atomic bombs in the south > Pacific and acting indignant and surprised when other countries complain, > and then complaining when the Arabs do the same in Paris. According to the > most current American state department intelligence, the President is now > someone named Jacques. Further information is not available at this time. > > Culture > > The French pride themselves on their culture, though it is not easy to see > why. All their music sounds the same and they have never made a movie that > you would want to watch for anything but the nude scenes. > > Cuisine > > Let's face it, no matter how much garlic you put on it, a snail is just a > slug with a shell on its back. Croissants on the other hand, are > excellent, > although it is impossible for most Americans to pronounce this word. In > general, travellers are advised to stick to cheeseburgers. > > Economy > > France has a large and diversified economy, second only to Germany's in > Europe, which is surprising because the French hardly work at all. If they > are not spending four hours dawdling over lunch, they are on strike and > blocking the roads with their trucks and tractors. France's principal > exports, in order of importance to the economy, are wine, nuclear weapons, > perfume, guided missiles, champagne, guns, grenade launchers, land > mines,tanks, attack aircraft, miscellaneous armaments and cheese. > Rick, I have been forwarded this message, quite to my surprise...considering my reputation. I should probably not have sent this to you but I will concede to the humour. I hope you will have fun, -Antoine > Public Holidays > > France has more holidays than any other nation in the world. Among its 361 > national holidays are: 197 Saints' days, 37 National Liberation Days, 16 > Declaration of Republic Days, 54 Return of Charles de Gaulle in triumph as > if he won the war single-handed Days, 18 Napolean sent into Exile Days, 17 > Napolean Called Back from Exile Days, and 2 "France is Great and the Rest > of > the World is Rubbish" Days. > > Conclusion > > France enjoys a rich history, a picturesque and varied landscape, and a > temperate climate. In short, it would be a very nice country if it was not > inhabited by French people.The best thing that can be said for France is > that it is not Germany.
----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:22 PM ----- James D Steffes 02/26/2001 08:52 AM To: Alan Comnes/PDX/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Cynthia Sandherr/Corp/Enron@ENRON, Dan Leff/HOU/EES@EES, David W Delainey/HOU/ECT@ECT, Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Elizabeth Sager/HOU/ECT@ECT, Elizabeth Tilney/HOU/EES@EES, Eric Thode/Corp/Enron@ENRON, Gordon Savage/HOU/EES@EES, Greg Wolfe/HOU/ECT@ECT, Harry Kingerski/NA/Enron@Enron, Jubran Whalan/HOU/EES@EES, Jeff Dasovich/NA/Enron@Enron, Jeffrey T Hodge/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, John J Lavorato/Corp/Enron@Enron, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathryn Corbally/Corp/Enron@ENRON, Keith Holst/HOU/ECT@ect, Kristin Walsh/HOU/ECT@ECT, Leslie Lawner/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Louise Kitchen/HOU/ECT@ECT, Marcia A Linton/NA/Enron@Enron, Mary Schoen/NA/Enron@Enron, [email protected], Mark Palmer/Corp/Enron@ENRON, Marty Sunde/HOU/EES@EES, Mary Hain/HOU/ECT@ECT, Michael Tribolet/Corp/Enron@Enron, Mike D Smith/HOU/EES@EES, Mike Grigsby/HOU/ECT@ECT, Neil Bresnan/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Rebecca W Cantrell/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Rob Bradley/Corp/Enron@ENRON, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert Frank/NA/Enron@Enron, Robert Frank/NA/Enron@Enron, Robert Johnston/HOU/ECT@ECT, Robert Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandra McCubbin/NA/Enron@Enron, Scott Stoness/HOU/EES@EES, Shelley Corman/Enron@EnronXGate, Steve C Hall/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Susan J Mara/NA/Enron, Tim Belden/HOU/ECT@ECT, Tom Briggs/NA/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Vance Meyer/NA/Enron@ENRON, Vicki Sharp/HOU/EES@EES, Wendy Conwell/NA/Enron@ENRON, William S Bradford/HOU/ECT@ECT cc: Subject: CA Supply Realities For those that have not seen this analysis, attached please find a note from Mary Schoen detailing the serious physical shortage problems that may occur this Summer in CA. Jim ----- Forwarded by James D Steffes/NA/Enron on 02/26/2001 08:51 AM ----- Mary Schoen 02/22/2001 02:55 PM To: Neil Bresnan/HOU/EES@EES, Alan Comnes/PDX/ECT@ECT, Jubran Whalan/HOU/EES@EES, Kristin Walsh/HOU/ECT@ECT, Clayton Seigle/HOU/ECT@ECT, Jeffrey Keeler/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Janel Guerrero/Corp/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Paul Kaufman/PDX/ECT@ECT cc: Subject: CA Supply Realities Attached is a memo comparing the CEC's forecasted supply and a more realistic look at what additional resources might be available this summer. The bottom line is that: 1. The CEC significantly underestimates the outages that may occur this summer. They estimate in their 5,000 MW supply deficit for the summer that expected outages will be around 3,000MW. However, November and December saw significantly higher outage levels. (7,265 MWs) The FERC has investigated these outages and found no improprieties- just that the plants are overtaxed from running at higher than normal capacities. 2. There are a lot of uncertainties surrounding the 1,244 MWs of projected supply from rerating/restarting existing thermal and renewable projects. It is very unclear how much of this will be able to come on line by this summer, if at all. As evidenced by the e-mail I sent out this morning, local communities may be very opposed to restarting shut down units. In addition, these units are likely to be uneconomical. 3. In the existing resource pool, there are roughly 1,430 MWs of peaking or other generation units that are running up against their operating hour limitations from air quality regulations. The Governor has ordered the local air quality districts to address these restrictions, We are beginning to seem some movement; however, the US EPA has yet to weigh in on these relaxed standards. 4. The distributed generation/back-up generation capacity to make up some of the shortfall is still an unknown. While there has been some relaxing of the limitations on run hours for back-up generation at "essential public services" the increase in DG is expected from "clean" sources, not diesel emergency generators. 5. The CEC is doing everything it can to get 50+ MW peaking units on-line by this summer. They are promising a 21-day permit application approval process and are offering to pay half of the cost of offsets, for "clean" sources of generation in critical areas. Please let me know if you have any questions or need additional information. CEC's Summer Forecasted Peak Demand - Resource Balance: List of Peakers running into their operating hour limitations: Also available in hard copy format only: (please e-mail me your fax number if you'd like a copy) Table 1: Fully Executed CA ISO Summer Reliability Agreements (the ISO Peaking Facilities) Table 2: Summer 2001 Supply Options - Renewables Construction Status Summary Table 3: Summer 2001 Supply Options - Rerate of Non-CEC Projects Table 4: Summer 2001 Supply Options - CEC Rerate Status Summary Table 5: Idle Biomass Plants Potentially Capable of Restart Mary Schoen Environmental Strategies Enron Corp 713-345-7422
nope -----Original Message----- From: Ball, Jeff [mailto:[email protected]] Sent: Wednesday, November 07, 2001 2:26 PM To: Smith, Matt Subject: RE: Really? Any terms of the deal disclosed? -----Original Message----- From: Smith, Matt [mailto:[email protected]] Sent: Wednesday, November 07, 2001 3:18 PM To: Ball, Jeff Subject: RE: Looks like Dynegy may buy us. -----Original Message----- From: Ball, Jeff [mailto:[email protected]] Sent: Wednesday, November 07, 2001 2:14 PM To: Smith, Matt Subject: RE: No, I've been on a conference call for the past 2 hours. What's the word? -----Original Message----- From: Smith, Matt [mailto:[email protected]] Sent: Wednesday, November 07, 2001 3:10 PM To: Ball, Jeff Subject: RE: not much i guess. I'm sure you heard the CNBC speel earlier. I have no news other than that. -----Original Message----- From: Ball, Jeff [mailto:[email protected]] Sent: Wednesday, November 07, 2001 1:56 PM To: Smith, Matt Subject: What's up? > Jeff Ball > Investment Banking > CREDIT \| FIRST > SUISSE \| BOSTON > Eleven Madison Avenue > New York, NY 10010 > Phone: (212) 538-7736 > Fax: (212) 325-0982 > > 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. CREDIT SUISSE GROUP and each of its subsidiaries each reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of any such entity. Unless otherwise stated, any pricing information given in this message is indicative only, is subject to change and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation. ******************************************************************** 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. ******************************************************************** 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. CREDIT SUISSE GROUP and each of its subsidiaries each reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of any such entity. Unless otherwise stated, any pricing information given in this message is indicative only, is subject to change and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation. 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. CREDIT SUISSE GROUP and each of its subsidiaries each reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of any such entity. Unless otherwise stated, any pricing information given in this message is indicative only, is subject to change and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation.
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/
The meeting will be around 1:00. Just come to our office at 1200 17th St. Suite 2750. Then we will go over to Crestone office. I anticipate that the meeting will last about an hour to an hour and half. Mark -----Original Message----- From: Walton, Steve Sent: Thursday, October 25, 2001 10:51 PM To: Thomas, Jake; Whitt, Mark Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project Mark, I am assuming we are on for this coming Tuesday given the exchange of e-mail. I am planning to arrive in Denver by 11:00 and will be going on to Seattle on Tuesday evening. Where do we meet you? How long will the meeting go. I have held off ticketing to until I had some details. Steve -----Original Message----- From: Thomas, Jake Sent: Tuesday, October 23, 2001 12:36 PM To: Whitt, Mark; Walton, Steve Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project That actually works out perfect for my schedule Jake Thomas 503-464-3803 -----Original Message----- From: Whitt, Mark Sent: Tuesday, October 23, 2001 10:18 AM To: Thomas, Jake Cc: Bump, Dan J.; Walton, Steve Subject: FW: Buffalo Power Company LLC - Gas Turbine Power Plant Project Can we meet next Tuesday on October 30th? Afternoon is prefferable. -----Original Message----- From: Walton, Steve Sent: Tuesday, October 23, 2001 11:12 AM To: Whitt, Mark Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project I am booked all of this week. Tuesday of next week might work if in the afternoon so I could fly in that morning. Steve -----Original Message----- From: Whitt, Mark Sent: Monday, October 22, 2001 3:32 PM To: Thomas, Jake; Walton, Steve Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project It works for me. Steve, would that be possible for you? -----Original Message----- From: Thomas, Jake Sent: Monday, October 22, 2001 2:03 PM To: Whitt, Mark; Walton, Steve Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project I have already made plans for the 14th - How about later this weeks or early next. ? Jake Thomas 503-464-3803 -----Original Message----- From: Whitt, Mark Sent: Monday, October 22, 2001 12:36 PM To: Walton, Steve Cc: Thomas, Jake Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project I have to go to the management meeting in San Antonio on the afternoon of the 14th. Would it be possible to meet in Denver on the morning of the 14th? -----Original Message----- From: Walton, Steve Sent: Monday, October 22, 2001 10:24 AM To: Whitt, Mark; Kaufman, Paul; Calger, Christopher F. Cc: Tycholiz, Barry; Bump, Dan J. Subject: RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project Mark, I am committed to a meeting in Seattle with the Western Governors and the FERC on November 1 and 2 respectively. The next meeting of the Wyoming Energy Commission is on November 12-13 in Evanston and a meeting in Spokane on the 15th, leaving the 14th open. I know that is beyond your two week window, but it would be the best time for me. Steve -----Original Message----- From: Whitt, Mark Sent: Friday, October 19, 2001 3:51 PM To: Walton, Steve; Kaufman, Paul; Calger, Christopher F. Cc: Tycholiz, Barry; Bump, Dan J. Subject: Buffalo Power Company LLC - Gas Turbine Power Plant Project ENA and Crestone (Northern Border's non-regulated affiliate) met with a group of developers and Joe Meyer, Secretary of State in Wyoming, who have proposed to build a 200 MW power plant (expandable to 500 MW) in the Powder River basin of Wyoming. Their "angle" is that the existing utility, Powder River Electric Coop, cannot meet the demand for electricity and the necessary distribution infrastructure to maintain the pace of development in the Coal Bed Methane BOOM that is happening in the basin. As you may or may not know, Enron has been very involved in this Coal Bed Methane play since 1998. ENA is the largest purchaser of 3rd party gas in the basin and Crestone is the largest non-producer gathering company in the basin. Crestone has a gathering trunkline located near their proposed site. The developers will be filing a petition to remove this area from the COOP's certificated territory in the next couple of weeks. There are obviously regulatory issues revolving around their ability to gain access to this "retail" market and the project would not be economically feasible as a merchant plant in the wholesale market. However, they seem to have some political backing. These developers recognize that they need Enron's assistance in developing this project on three main fronts: 1. Power Marketing and Project development 2. Gas Supplies and Pipeline access 3. Regulatory and Transmission expertise Given the fact that Joe Meyer is the early favorite to be the next Wyoming Governor and we are trying to work well with the State of Wyoming, and we have a natural competitive advantage in this market from a gas supply and pipeline perspective, I would like to pursue this opportunity a little further. Therefore, I am wondering if I could get a Sr. Commercial Power Representative and a Regulatory Representative (Steve Walton would be good since he will be on the Wyoming Energy Commission), to attend a meeting in Denver with myself and the Crestone representatives sometime in the next 2 weeks. Please give me a call and I can elaborate on the opportunity or answer your questions. I don't want to make this email a novel! Thanks a lot. 303-575-6473
COLUMBIA GAS TRANSMISSION CORPORATION NOTICE TO ALL INTERESTED PARTIES OCTOBER 25, 2001 Notice ID: 3207 5 - NO RESPONSE REQUIRED SUBJECT: 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 0 Primary Receipts/Deliveries Only 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.
FYI. Here it is. I think this might do it. It would at least set the stage for any further discussion that might be necessary. Stephen ---------------------- Forwarded by Stephen P Schwarz/HOU/ECT on 04/19/2000 12:59 PM --------------------------- Enron North America Corp. From: Stephen P Schwarz 02/29/2000 03:13 PM To: Sally Beck/HOU/ECT@ECT, Inja Chun/HOU/ECT@ECT, Pamela Lebrane/Corp/Enron@ENRON, Melissa White/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Evelyn Aucoin/HOU/ECT@ECT, Cynthia Morrow/Corp/Enron@ENRON, Regan M Smith/HOU/ECT@ECT, Kenneth M Harmon/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT cc: Subject: Unify AR -- SAP Plans The attached memo details our proposal of a week ago to use SAP AR rather than Unify AR. As of this morning, we finalized our decision to use the SAP AR system and to turn off Unify AR when SAP is implemented. Please direct any questions to myself at X33179 or Melissa White at X35704. Please feel free to forward this memo to anyone I may have forgotten who is interested. Stephen ---------------------- Forwarded by Stephen P Schwarz/HOU/ECT on 02/29/2000 01:15 PM --------------------------- Enron North America Corp. From: Stephen P Schwarz 02/18/2000 04:17 PM To: Bryce Baxter/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Mechelle Stevens/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Leslie Reeves@CCMAIL, Evelyn Aucoin/HOU/ECT@ECT, Laura E Scott/CAL/ECT@ECT, Cheryl Dawes/CAL/ECT@ECT cc: Melissa White/HOU/ECT@ECT, Dorothy Ricketts/HOU/ECT@ECT, Kimberly Perkins/HOU/ECT@ECT, Trang Le/HOU/ECT@ECT, Christy Sweeney/HOU/ECT@ECT Subject: Unify AR -- SAP Plans Two years ago Enron North America made a decision to use Unify AR for cash application rather than SAP AR. We decided at the time that SAP AR would be kept in sync with Unify AR by the Unify/SAP interface. We believe that the business logic for that decision has changed, and are now recommending that Unify AR be permanently turned off and all AR functions be performed in SAP. I have briefly summarized the change in business situation below. Two Years Ago Today Netting allowed by legal and credit ONLY if netting contract was already in place. Netting encouraged by legal and credit wherever possible, regardless of existence of signed agreement. Netting limited to one counterparty and legal entity at a time. Canada nets across counterparties. Netting performed in physical only, financial settlements to maintain separate net statement process. ENA considering netting physical and financial together. All account coordinators were to apply their own cash. Cash applied centrally in Power, Financial and Canada Individual coordinators apply cash only in physical Gas. Cash was to be applied at the line item level to track variances and to facilitate calculation of cost of funds by commercial team. Although gas settlements is applying cash for some invoices at the line item level, this functionality is not being used by power settlements and will not be used by financial settlements. The company has not made any move towards calculating cost of funds by commercial team. The Account Inquiry functionality in Unify was thought to be a key on-line tool. Old habits die hard...most users appear to be printing reports and reviewing data, rather than using the on-line functionality. Overapplication of cash was not to be allowed. Overpayments would be classified as "on account", with issues tracked in a case management system. Case management system does not exist. Allowing overapplication helps the account coordinators track overpayments easier than leaving cash on account. The counterparty/legal entity combination on the deposit needed to match the counterparty/legal entity combination on the Enron invoice. Given the number of legal entities Enron has, along with the number of entities our counterparties have, this seems like a hopeless battle. Allowing cross-application of cash seems easier. Corp required that intercompany settlements had to be "settled" with cash movement. Corp no longer requires intercompany settlements to be "settled" with cash movement. Converting to SAP AR simplifies the Unify/SAP interface in the following ways: Bank deposits into SAP do not have to be split off into Unify Cash entries in Unify do not have to be interfaced back to SAP Unify netting entries do not have to be interfaced to SAP Payables information does not have to be interfaced from SAP to Unify Given the change in attitudes towards our netting business process we face two problems in Unify. Controls built into Unify are already obsolete. Unify does not maintain all products in one database, making efforts to net across products in the future (physical with financial, for instance) impossible. Our understanding of the netting process in SAP indicates that there are no controls (which sounds good at this point) and that we would retain the automatic netting entries when the payable is netted with the receivable within SAP. However, we emphasize that netting would be done in SAP, not at the time of finaling a payment in Unify. To repeat, we are recommending that Unify AR be turned off and we convert to SAP AR. We will schedule a meeting the week of February 22 to discuss. Please call me at X33179 with any questions or comments. We WILL make this decision by February 28 because the SAP timeline does not allow any additional time for consideration. Stephen
Please get this to Mark Frevert. Mark ----- Forwarded by Mark E Haedicke/HOU/ECT on 04/03/2001 11:38 AM ----- Wayne Gresham 03/30/2001 02:07 PM To: Mark E Haedicke/HOU/ECT@ECT cc: Subject: Junior Achievement Mark, I would be interested in participating, assuming I am here that day. Wayne ************************************ Wayne E. Gresham Enron North America Corp. 1400 Smith Street, Suite 3857 Houston, Texas 77002 (713) 853-1485 (T) (713) 646-4842 (F) ************************************ This email message is for the sole use of the intended recipient (s) and may contain confidential and/or privileged information. Any review, use, disclosure or distribution by persons or entities other than the intended recipient (s) is prohibited. If you are not the intended recipient, please contact the sender by reply and destroy all copies of the original message. ----- Forwarded by Wayne Gresham/HOU/ECT on 03/30/2001 02:06 PM ----- Alan Aronowitz 03/27/2001 05:26 PM To: John Viverito/Corp/Enron@Enron, Wayne Gresham/HOU/ECT@ECT, Michael A Robison/HOU/ECT@ECT, Ned E Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Coralina Rivera/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dominic Carolan/Enron@EnronXGate, Robert Bruce/NA/Enron@Enron cc: Subject: Junior Achievement Please let Mark know if you are interested in participating in this program. Alan ----- Forwarded by Alan Aronowitz/HOU/ECT on 03/27/2001 05:23 PM ----- Mark E Haedicke 03/27/2001 03:10 PM To: Alan Aronowitz/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Randy Young/NA/Enron@Enron, Richard B Sanders/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Junior Achievement Let me know if anyone in your group is interested. Mark ----- Forwarded by Mark E Haedicke/HOU/ECT on 03/27/2001 02:51 PM ----- Mark Frevert/ENRON@enronXgate Sent by: Nicki Daw/ENRON@enronXgate 03/27/2001 11:50 AM To: Sally Beck/HOU/ECT@ECT, Wes Colwell/ENRON@enronXgate, Timothy J Detmering/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, David Oxley/ENRON@enronXgate, Brian Redmond/HOU/ECT@ECT, Joseph Deffner/ENRON@enronXgate, Beth Perlman/ENRON@enronXgate, Phillip K Allen/HOU/ECT@ECT, Barry Tycholiz/NA/Enron@ENRON, Scott Neal/HOU/ECT@ECT, Frank W Vickers/NA/Enron@Enron, Hunter S Shively/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Jean Mrha/NA/Enron@Enron, Julie A Gomez/HOU/ECT@ECT, Scott Josey/ENRON@enronXgate, C John Thompson/ENRON@enronXgate, Michael L Miller/NA/Enron@Enron, Ozzie Pagan/ENRON@enronXgate, Mark E Haedicke/HOU/ECT@ECT, Eric Thode/Corp/Enron@ENRON, Scott Tholan/ENRON@enronXgate, Vince J Kaminski/HOU/ECT@ECT, Bruce Garner/LON/ECT@ECT, Bob Crane/ENRON@enronXgate, Greg Hermans/ENRON@enronXgate, Rodney Malcolm/ENRON@enronXgate, Robert Saltiel/ENRON@enronXgate, Tim Battaglia/Enron@enronXgate, Brad Kirchhofer/ENRON@enronXgate, Julia Murray/HOU/ECT@ECT, Bill W Brown/ENRON@enronXgate, Andrew Kelemen/ENRON@enronXgate, Brenda F Herod/ENRON@enronXgate, Delmar Davis/ENRON@enronXgate, Daniel Hamilton/ENRON@enronXgate, Kent Castleman/ENRON@enronXgate, Fran L Mayes/ENRON@enronXgate, Stephen H Douglas/ENRON@enronXgate, Andrea V Reed/ENRON@enronXgate, Robert W Jones/ENRON@enronXgate, Suresh Raghavan/ENRON@enronXgate, Andy Zipper/ENRON@enronXgate, Rex Shelby/ENRON@enronXgate, Thomas D Gros/ENRON@enronXgate, Dan Bruce/ENRON@enronXgate, Jenny Rub/ENRON@enronXgate cc: Shirley Tijerina/ENRON@enronXgate, Susan Fallon/Corp/Enron@ENRON, Tina Rode/HOU/ECT@ECT, Julie Clyatt/ENRON@enronXgate, Lillian Carroll/HOU/ECT@ECT, Megan Angelos/ENRON@enronXgate, Cherylene Westbrook/ENRON@enronXgate, Tamara Jae Black/HOU/ECT@ECT, Tonai Lehr/ENRON@enronXgate, Anabel Gutierrez/HOU/ECT@ECT, Christy Chapman/ENRON@enronXgate, Janette Elbertson/HOU/ECT@ECT, Sharon Purswell/ENRON@enronXgate, Sue Ford/ENRON@enronXgate, Marsha Schiller/ENRON@enronXgate, Peggy McCurley/ENRON@enronXgate, Tina Spiller/ENRON@enronXgate, Patti Thompson/HOU/ECT@ECT, Lacye Trevino/NA/Enron@Enron, Patricia English/Enron@EnronXGate, Angela Collins/ENRON@enronXgate, Christy Chapman/ENRON@enronXgate, Liz M Taylor/HOU/ECT@ECT, Kimberly Hillis/ENRON@enronXgate, Tammie Schoppe/HOU/ECT@ECT Subject: Junior Achievement On Wednesday, April 11, 2001, Enron, in conjunction with Junior Achievement, will host 40 students from Westside High School and Kerr High School for a day of Job Shadowing. This program,s objectives are to demonstrate why a sound education, interpersonal skills, and a strong work ethic are needed to be successful in the workplace. The Job Shadowing program consists of the following: 8:45 AM Students arrive 9:00 - 10:30 AM Welcome, Overview, Video, and Tours 10:30 - 12:00 N Individual Job Shadow Experience with Enron Employees 12:00 - 1:00 PM Student Lunch with Closing Comments 1:00 PM Students return to schools We need your assistance in identifying individuals within your area who would be available to assist with the job shadowing experience. Please contact Nicki Daw ASAP with your recommendations. More detailed information will be supplied to the employees assisting. Thank you for your support of the Enron/Junior Achievement Job Shadowing program.
Kay, see clarifications below. Thanks for your help. -----Original Message----- From: Mann, Kay Sent: Tuesday, May 29, 2001 11:52 AM To: Rorschach, Reagan; Fairley, David; Kroll, Heather; May, Tom; Coulter, Kayne Subject: comparison of definitions - 1st in each pair is from letter agreeement 1. &Ancillary Services8 or &AS8 means those services required by Entergy,s interconnection agreement with MDEA or Entergy,s tariff. OR [Rorschach, Reagan] Use this one below with noted change. &Ancillary Services8 or &AS8 means those services [Rorschach, Reagan] defined in Entergy,s interconnect agreement with MDEA or Entergy,s tariff. 2.&Available Energy8 means Energy that is available for sale on any given day that is in excess of MDEA,s Native Load. OR [Rorschach, Reagan] Use this one below. &Available Energy8 means Energy that is available for sale on any given day that is in excess of (i) MDEA,s Native Load, and (ii) the Energy required to be sold under any Existing Transactions, up to the total amount of Energy on any day that can be produced from the Facilities. 3.&Available Energy8 means Energy that is available for sale on any given day that is in excess of MDEA,s Native Load. OR &Available Energy8 means Energy that is available for sale on any given day that is in excess of (i) MDEA,s Native Load, and (ii) the Energy required to be sold under any Existing Transactions, up to the total amount of Energy on any day that can be produced from the Facilities. 4.&Confirmation8 means a confirmation of a transaction or transactions. OR [Rorschach, Reagan] Use this one below. &Confirmation8 means the document provided for under the MPPSA or the MGPSA and with the corresponding third party under a Back-to-Back Transaction or with EPMI which specifies the Product being bought or sold, the duration of the Transaction and the other terms, including price. A daily report of all hourly (or similarly short term) purchases and sales will be provided to the Customer and shall serve as a Confirmation for those transactions under the MPPSA or MGPSA. 5.&Delivery Point8 means the busbar of the respective Facilities located at the interconnection between CPUC,s and YCPSC,s respective transmission systems at the 115 kV switching station at the respective interconnections with the Entergy transmission system. Or [Rorschach, Reagan] Use this one below. &Delivery Point8 &Point of Delivery8 or &POD8 means (a) for power (i) the interfaces located at the interconnection between Clarksdale and Yazoo City transmission systems at the Entergy system, or (ii) the point specified in any Back-to-Back Transaction, EPMI Transaction or Structured Transaction at which Products are to be tendered under a Confirmation; (b) for natural gas, (i) for Clarksdale, the point of interconnection between Texas Gas and Clarksdale (ii) for Yazoo City, the interconnection between Southern Natural Gas (Sonat) and Mississippi Valley Gas for the Yazoo City Power Plant (the Sonat Delivery Point) (iii) the interconnection between Mississippi Valley Gas (MVG) and the Yazoo City Power Plant (MVG Delivery Point), (iv) any point where fuel is delivered as specified in a Fuel Transaction. 6.&Incentive Fee8 means forty percent (40%) of the Savings and of the net profit from external sales of the Cities, natural gas resources and the purchase of on-peak Energy, as calculated in accordance with Article III of this ILA. Or &Incentive Fee8 means the fee described in [Section]. 7.&Market Price8 is the price agreed by the parties to be paid by EPMI in any EPMI Transaction for the sale of Energy to third parties, or the amount to be paid to EPMI for the sale of Energy to the Cities and/or MDEA. or [Rorschach, Reagan] Use this one below. &Market Price8 is the price agreed to (i) by any third party for the sale or purchase to or from EPMI or MDEA in a Back-to-Back Transaction, (ii) the price paid by EPMI in any EPMI Transaction or (iii) by any third party pursuant to any Structured Transaction. 8. &Protocols8 shall mean the SPP Protocols duly adopted by SPP, including any attachments or exhibits referenced thereby, as amended from time to time, containing the scheduling, operating, planning, reliability, and settlement (including customer registration) policies, rules, guidelines, procedures, standards, and criteria of SPP. For the purposes of determining responsibilities and rights at a given time, the Protocols, as amended in accordance with the change procedure(s) described in the Protocols, in effect at the time of the performance or non-performance of an action, shall govern with respect to that action. or [Rorschach, Reagan] Use this one below. &Protocols8 shall mean the Protocols duly adopted by SPP, SERC, NERC, and/or Entergy, including any attachments or exhibits referenced thereby, as amended from time to time, containing the scheduling, operating, planning, reliability, and settlement (including customer registration) policies, rules, guidelines, procedures, standards, and operations criteria. For the purposes of determining responsibilities and rights at a given time, the Protocols, as amended in accordance with the change procedure(s) described in the Protocols, in effect at the time of the performance or non-performance of an action, shall govern with respect to that action. 9.&Savings8 shall mean the difference between 1) the total costs to MDEA and/or the Cities of a Transaction, and 2) the total costs of MDEA and/or the Cities avoided or displaced by the Transaction, which difference shall be calculated as described in Article III of this ILA. not defined in rev 23 definitions [Rorschach, Reagan] Reference that Savings is defined in the Exhibit (see attached file "Incentive Fee Calc")
May 17, 2000 Via Internet MEMORANDUM TO: Interested Clients FROM: John & Hengerer RE: Commission Meeting -- May 17, 2000 At today's meeting, the Commissioners approved the consent agenda and then discussed the following items. ELECTRIC MATTERS Alliance Companies, et al., Docket Nos. ER99-3144 In December 1999, the Commission issued an order conditionally authorizing the formation of the Alliance RTO. At today's meeting, the Commissioners denied (by a margin of 3 to 1, Commissioner Hebert dissenting) rehearing of the December 1999 order. The Commissioners also unanimously rejected (Commissioner Massey concurring) Alliance's compliance filing. In its original filing, Alliance proposed allowing each of its 5 active owners to retain up to a 5 percent ownership interest in the RTO (up to 25 percent total ownership by active owners). The December 1999 order rejected this proposal as contrary to the independence principle outlined in Order No. 2000, which states that active ownership should be limited to a total of 15 percent unless special circumstances are shown. Rejecting requests for rehearing, the majority concluded that Alliance had failed to justify active member ownership in excess of 15 percent. Dissenting, Commissioner Hebert argued that (i) the 15 percent benchmark is arbitrary and should not be viewed as creating a binding legal requirement. and (ii) limiting active ownership will provide a disincentive for other utilities to join the RTO. 3 The Commissioners also rejected Alliance's compliance filing submitted to satisfy the terms of the December 1999 order. In addition to failing to correct the active ownership issue outlined above, the Commissioners faulted Alliance for not eliminating pancaked rates and for not addressing issues associated with the RTO's scope and configuration. Commissioner Massey indicated that he would write a concurrence to stress that Aseams@ agreements do not negate the need to review the RTO's scope and configuration to ensure that it is properly designed and sized. Southwest Power Pool, Docket No. EL00-39 The Commissioners unanimously rejected, as failing to meet the requirements of Order No. 2000, the Southwest Power Pool's (SPP) RTO proposal. Commissioner Massey, who moved the item to the discussion agenda, cited the following shortcomings in SPP's proposal: (i) operational control of transmission facilities was not turned over to the RTO; (ii) the RTO's proposed open-access transmission tariff did not comply with Order No. 2000; (iii) no real-time balancing market had been proposed; (iv) lingering concerns with the RTO's governance structure; and (v) the RTO's proposed scope and configuration are inadequate. Commissioner Massey encouraged the SPP to join other entities seeking to form an RTO, or consider merging with the Midwest ISO. Notice of Interim Procedures to Support Reliability and Request for Comments, Docket No. EL00-75 The Commissioners unanimously approved short-term procedures designed to address Summer 2000 reliability concerns. The approved measures provide for (i) streamlining FERC procedures to promote on-site, distributed generation, (ii) waiving prior-notice requirements for load-reduction agreements, (iii) improving demand-side price signals, (iv) requiring more extensive OASIS posting of available transmission capacity; and (v) making Commission Staff more available to the industry to address reliability concerns. Comments on the proposed short-term measures are due by June 2, 2000. Additionally, agreeing that the short-term procedures are very minimal in nature, the Commissioners requested comments on long-term reliability issues. Comments are due by June 30, 2000. Finally, Commissioner Hebert indicated that he would write a separate concurrence to express his belief that competitive forces are the answer to reliability concerns and to criticize the Commission for not eliminating artificial price caps and promoting competitive rates. Commissioner Hebert's accusation that the Commission was more concerned with politics than good policy touched off a heated debate, with Chairman Hoecker reciting FERC successes and Commissioner Massey scoffing at Commissioner Hebert's suggestion that price caps were to blame for generation shortages. GAS MATTERS Regulation of Short-Term Natural Gas Transportation Services, Regulation of Interstate Natural Gas Transportation Services, Docket Nos. RM98-10, RM98-12 The Commissioners unanimously addressed and generally denied requests for rehearing of Order No. 637. Finding that Order No. 637 strikes a good balance between competing interests, the Commissioners indicated that their order would, with several exceptions, uphold the mandates of the order. The Commissioners expressly noted that requests for rehearing of right-of-first-refusal (ROFR) roll-up issues would be denied. Order No. 637 states that, if a pipeline is fully subscribed, a party wishing to exercise a ROFR will be required to match competing bids, even if a competing bid exceeds the maximum rate for the capacity. Revisions and clarifications of Order No. 637 approved by the Commissioners at today's meeting include: (1) shippers with multi-year contracts at max rates for seasonal service will retain their ROFR; (2) pipelines will be required to post available capacity within one hour of each nomination cycle, rather than within one day as directed by Order 637; (3) short-term capacity release transactions must be posted within one hour of the first nomination under the contract, rather than upon the execution of the contract as stated in Order No. 637; and (4) Order No. 637's OFO penalty and imbalance provisions will be clarified in the Commission order. Although comments at today's meeting were brief, we anticipate a lengthy order addressing the numerous issues raised by parties in their requests for rehearing.
Find these stories and more at http://www.redherring.com ------------------------------------------------------------ TOP STORY: A look at last year's top IPOs, VC firms, and banks -- before and after the fall. Going public: IPO review for 2000 http://www.redherring.com/index.asp?layout=special_report_gen&channel=30000003&rh_special_report_id=670000067&doc_id=1380019338 ------------------------------------------------------------ A D V E R T I S E M E N T Join EYESTORM for its private opening, June 5 in NY, 6-9 pm! Pioneering art media company EYESTORM--with limited edition artworks by acclaimed artists from Jeff Koons to Andy Warhol --celebrates the opening of its unique art space in NY at 60 Mercer Street @ Broome. Click here for an private invite: http://www.eyestorm.com/newyork A D V E R T I S E M E N T ------------------------------------------------------------ Catch of the Day: Trade you In an economy in which the superstars let us down, who are the heroes? I submit it's the guys out there buying stuff. Consumer confidence is surprisingly high. It's as if real people are ignoring the soggy market, the dot-com washout, and the recessionary mutterings from Gray Davis and Alan Greenspan. But aside from a tax cut, how are we going to recognize the troops? As it happens, a San Francisco company, PeopleCards, is reacting to our culture's superstar obsession by making a series of trading cards with real people on them. People can even submit themselves as candidates on the PeopleCards site. Now, if this takes off, it'll be a fad. Yet it's worth noting that the major sports card manufacturers (like Topps) are considering, if not already producing, non-sports cards. In talking to PeopleCards president Brant Herman, it occurred to me that making limited runs of cards for private use (as promotional items, for example) could be a nice business. But there are already companies doing this. While it's unlikely that the public will want to mint its own celebrities, if it does, an exit for this experiment could be an acquisition by one of the major card companies. - Rafe Needleman, [email protected] Editor, http://www.redherring.com COMPANIES * PeopleCards http://www.peoplecards.net * Topps http://www.topps.com * Trading Faces http://www.tradingfaces.com RELATED STORIES * Is it simply boom, interrupted? http://www.redherring.com/index.asp?layout=story&channel=20000002&doc_id=150019415&rh_special_report_id= * A mixed tech report card for President Bush http://www.redherring.com/index.asp?layout=story&channel=10000001&doc_id=50019205 * Ten tech stocks to avoid http://www.redherring.com/index.asp?layout=story&channel=20000002&doc_id=1950018595 * The Angler on California's depressive personality http://www.redherring.com/index.asp?layout=story&doc_id=1550018355&channel=70000007 * Market Currents: Will Greenspan make the kindest cut? http://www.redherring.com/index.asp?layout=story&channel=20000002&doc_id=1520019352 * The ten zaniest VC pitches http://www.redherring.com/index.asp?layout=story&channel=40000004&doc_id=700017670 ------------------------------------------------------------ A D V E R T I S E M E N T Join EYESTORM for its private opening, June 5 in NY, 6-9 pm! Pioneering art media company EYESTORM--with limited edition artworks by acclaimed artists from Jeff Koons to Andy Warhol --celebrates the opening of its unique art space in NY at 60 Mercer Street @ Broome. Click here for an private invite: http://www.eyestorm.com/newyork A D V E R T I S E M E N T ------------------------------------------------------------ VC and Startups How do you boot out your CEO? Why isn't Reno a great place to start a B2B company? How do you spot a bad VC? Mayfield's David Ladd returns to answer these and many more reader questions. VC P.S.: Suck it up, part 2 http://www.redherring.com/index.asp?layout=story&channel=40000004&doc_id=730019473&rh_special_report_id= Inside Tech Researchers are exploring the use of living cells and micro- organs to warn of the presence of dangerous toxins and aid in the discovery of new drugs. Lab Rat: Building a better canary http://www.redherring.com/index.asp?layout=story&channel=10000001&doc_id=740019474&rh_special_report_id= ------------------------------------------------------------ UPCOMING RED HERRING EVENTS Venture Market Europe June 11 - 12 Hilton Park Lane London, UK Herring on Hollywood July 30-31 Century Plaza Hotel Los Angeles CA Venture Market East Sept 25 - 26 Fairmont Hotel Boston MA http://events.redherring.com/ ------------------------------------------------------------ SPECIAL OFFER on RED HERRING magazine! Stay on the cutting edge of technology -- subscribe to Red Herring. By taking advantage of this special offer, you'll pay only $39 for a total of 24 issues and SAVE 67 percent off the cover price! New subscribers only, please. http://www.redherring.com/index.asp?layout=magazine_us_subscrib ------------------------------------------------------------ ADVERTISING INFORMATION For information on advertising in Red Herring newsletters, contact: [email protected] ------------------------------------------------------------ You are currently subscribed to Catch of the Day with the address [email protected]. If you wish to unsubscribe, please go to http://www.redherring.com/index.asp?layout=e_newsletters, sign in using this exact address, and uncheck the newsletters you no longer want to receive. ------------------------------------------------------------ Copyright (c) 2001 Red Herring Communications All rights reserved ------------------------------------------------------------
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[IMAGE] Store Member: Spec's Wines, Spirits & Finer Foods Members > E-mail [IMAGE] Hi ELIZABETH A. AND GRANT A., Spec's Wines, Spirits & Finer Foodsand WineISIT.com have teamed up to offer you some great savings on your favorite wines and spirits. We hope you enjoy these WineISIT.com specials. 5% discount is available for those not using credit cards. Use of debit cards earns the 5% cash discount. Both regular and cash discount prices are listed. Specials available at all locations. E-mail any questions or comments about these special offers to: [email protected] Spec's largest and most famous location is at 2400 Smith St. on the south edge of downtown. 16 other locations are around Houston. Exact locations available here. Spec's is famous for providing customers more wine, liquor, beer and specialty foods and at lower prices than anyone in Texas. Store Hours: All stores are open from 10AM to 9PM Monday through Saturday. Charge Cards Honored: American Express, Mastercard, Visa, Discover cards. To arrange delivery, call order department at 713-526-8787 Spec's is not responsible for mis-prints or typographical errors. All customers must be at least 21 years old. Spec's, for the good stuff. [IMAGE] [IMAGE] Weekly Deals: June 4-9, 2001 Paul Jaboulet Parallele 45 C"tes du Rh"ne 750 ml. [IMAGE] This fifth-generation producer specializes in Rh"ne Valley wines from their ideally-situated, carefully tended vineyards. This blend of Syrah and Grenache has an intense, complex nose, with aromas of ripe red fruit (raspberries, cassis), violets and licorice. The palate is fresh and rich; its tannic structure and strength are harmonious and remarkable. Long, fruity finish. Cash Discounted Sale Price: $7.88 Sale Price: $8.29 1999 Frei Brothers Reserve Sonoma County Merlot 750 ml. [IMAGE] The grapes for this wine were de-stemmed, but not crushed, to retain a substantial proportion of whole berries for fermentation. This technique minimizes bitter tannin extraction in the wine. The wine was 100% barrel aged in a mixture of new and prior use French, European, and American oak for approximately a year. Cash Discounted Sale Price: $12.59 Sale Price: $13.25 Marcelina Vineyards, 1997 Cabernet Sauvignon, Napa Valley 750 ml. [IMAGE] Concentrated blackberry, black cherry and cassis fruit flavors framed by smoked bacon, tobacco, cedar notes, and coconut characteristics. Full-bodied with a velvety, silky texture and a lingering finish. Cash Discounted Sale Price: $19.99 Sale Price: $21.04 Gallo of Sonoma Barrelli Creek Vineyard Zinfandel 750 ml. [IMAGE] Our family's Barrelli Creek Vineyard is located in the temperate, Region III hillsides of Sonoma County's Alexander Valley; on a site first planted by Italian immigrants over a century ago. The low vigor of this vineyard's gravelly clay loam soils, in combination with its micro-climate and optimal viticultural practices, yield intensely concentrated Zinfandel and Petite Sirah grapes loaded with the zesty aromas and flavors of black cherries, boysenberry jam, and black pepper. Cash Discounted Sale Price: $12.82 Sale Price: $13.49 Jim Beam Bourbon 80o 1.75L [IMAGE] A bourbon of great finesse and subtle nuance, neither light nor heavy, but rather a mellow "baritone" of a spirit. It is distinctive not because it is different, but because it is perfect. Cash Discounted Sale Price: $19.99 Sale Price: $21.04 Belvedere Vodka 80o750ml. [IMAGE] One of the first grain-based deluxe vodkas of Poland, known for its strong Polish character and its unique bottle, with a window on the front through which the illustration on the back (of the official residence of the Polish president in Warsaw) can be seen magnified by the vodka. Cash Discounted Sale Price: $24.99 Sale Price: $26.31 Beaufond V.S.O.P. Cognac 80o750ml. [IMAGE] This small but excellent producer is situated in the heart of the Grande Champagne district. Masterfully blended and distinctively packaged, it is one of the best values for the price in Cognac. Cash Discounted Sale Price: $14.99 Sale Price: $15.78 Edna Valley Chardonnay 750 ml. [IMAGE] Located just south of San Luis Obispo on California's Central Coast, Edna Valley is ideally situated for the production of premium Chardonnay and Pinot Noir. Their Chardonnay is full-bodied with smoky aromas of vanilla, oak and spice. The mouthfeel is soft and lush, but at the same time intense, with ripe flavors of white peach, apple and tropical fruits. A subtle mineral component complements the higher acid level, lending structure, balance, and complexity. Cash Discounted Sale Price: $12.99 Sale Price: $13.67 Lindemans Shiraz/Cabernet, Cawarra 1.5L. [IMAGE] Dr. Henry Lindeman planted his first grape vines in 1843 along the Paterson River in New South Wales, Australia. His homestead, Cawarra, is named after the aboriginal term for "beside running water," and Cawarra Claret was the first wine he exported. Today, the Cawarra line commemorates these first wines. The Shiraz/Cabernet is easy drinking and approachable with generous varietal fruit flavors and aromatic oak in the background. Cash Discounted Sale Price: $6.88 Sale Price: $7.24 For more Monthly Specials click here. WineISIT.com Member E-mail is a special service for WineISIT.com members. If you wish to unsubscribe to this E-mail, simply click here and update your preferences on our E-mail preferences page. We'll remove you from our member E-mail list as quickly as possible.
FEATURE SELECTION: THE OLD ECONOMY IS BACK by Peter Dag & Associates, Inc. Read the complete article at http://www.consensus-inc.com/newsletter/feature.htm See CONSENSUS Special Discount offer on this page. Each Tuesday the CONSENSUS Newsletter will feature a leading selection from 225 +/- weekly articles from CONSENSUS National Futures and Financial Weekly appearing online at http://www.consensus-inc.com/ or in print. ============================================================ FREE TRIAL A request for a FREE sample of the print and ONLINE version is available at our website or by calling 800-383-1441 or 816-461-2800. Consensus - National Futures and Financial Investment Newspaper ============================================================= TABLE OF CONTENTS: 1. Market commentary from current issue of CONSENSUS National Futures and Financial Weekly. 2. Featured commodity of the CONSENSUS Index of Bullish Market Opinion. 3. Partial Outline of leading articles in current issue of CONSENSUS. ============================================================= FEATURED SELECTION: THE OLD ECONOMY IS BACK by Peter Dag & Associates, Inc. (May 28, 2001) The old economy is back. The more things change, the more they stay the same. There was a big hype in the late 1990's, with the blessing of the Fed, that the economy had entered a new stage of development, supported by above average productivity gains driven by technological innovations... Read the complete article at http://www.consensus-inc.com/newsletter/feature.htm ============================================================= CONSENSUS Index of Bullish Market Opinion Contrary opinion index of market advisors 75% + overbought 25% - oversold FEATURED MARKET: ORANGE JUICE: 76% For more information on all of the CONSENSUS Index of Bullish Market Opinion percentages please go to our sample online issue at http://www.consensus-inc.com/01999si/ Consensus - National Futures and Financial Investment Newspaper To obtain the CONSENSUS Index of Bullish Market Opinion for all 33 markets, please call 900-328-1131 for only $2.99 per minute, updated each Tuesday by 8:00 PM Central Time. ============================================================= To view TOTAL outline of current issue, visit our website http://www.consensus-inc.com/ "Issue Preview" PARTIAL OUTLINE OF FEATURED ARTICLES IN CURRENT ISSUE OF CONSENSUS FUTURES AND FINANCIAL WEEKLY: GANN ANGLES by Phyllis Kahn (June, 2001) May was a very bullish month for all the stock indices, but the divergence between the individual indices was stronger than ever. The Dow was the undisputed leader except for the NYSE index which managed to make new all-time highs. Of course, the NYSE is still trading at the 600+ level, having missed most of the 18-year surge that took place in the other major averages... EURO/YEN: EURO UNDERVALUED BY 30% LONG-DATED FORWARDS PREDICT FURTHER EURO SLIDE by Deutsche Bank AG Foreign Exchange Research Department (June 1, 2001) The recent decline in the Euro's value has once again pushed the new single European currency into significantly undervalued territory versus the U.S. Dollar. According to our purchasing power parity (PPP) estimates, the Euro is presently undervalued by nearly 30% versus the dollar. Historically, PPP undervaluations of this magnitude are not often sustainable. As Figure 1 shows, when the Euro has moved more than +/-20% out of line with its long-run PPP valuation, it has eventually set forces in motion to reverse the currency misalignment... THE NEXT GLOBAL GROWTH DERBY HAS BEGUN by Merrill Lynch & Co. Global Securities Research & Economics Group (May 31, 2001) The stage is set for the next global growth derby. That stage, of course, was built on the aggressive reduction in short-term interest rates around the globe. All major central banks have recently cut interest rates in response to the surprisingly rapid deterioration of the global economy since the fourth quarter of last year... WILD MARKETS AHEAD by Richard A. Brock & Associates, Inc. (May 25, 2001) Actually, there have been some wild markets behind as well. These have not been easy markets and we don't expect the trends to get any easier in the weeks ahead. Current weakness in the grain markets has certainly turned attitudes negative among most producers. But before everyone throws in the towel, remember a couple of things:... GLOBAL STRATEGY AND INVESTMENT TRENDS by David Fuller (May 25, 2001) Ronnie Biggs Saga A Metaphor For New Labour--A moment of welcome public relations for the UK's tourism industry, recently trampled by foot-and-mouth disease--Ronnie Biggs of 1960's Great Train Robbery fame gave up Brazil's sunshine and Lambada dancers because he missed England's green and rolling hills, pubs, national health service and presumably the rain... ============================================================= This FREE weekly Newsletter publication is sent ONLY to people who have expressed and interest in financial and investment information. Please forward this Newsletter to your Associates/Friends. SUBSCRIBE mail to: [email protected] UNSUBSCRIBE mail to: [email protected] ============================================================= Thank you for reading the CONSENSUS Market Advisory Newsletter. In the future we plan to include special offers, contests and other features. The next issue of our newsletter will be e-mailed June 12. CONSENSUS, INC. PO Box 411128, Kansas City, MO 64141 816-461-2800 or 800-383-1441 mail to: [email protected]
I'm HERE!!! How about the reorg? Mark H looks like he came out great. Kay From: Kathleen Carnahan 11/09/2000 09:53 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: Re: enovate stuff Kay- I will look at your copy of the LLC regarding delegation of powers (or if I can't find it, I will get a copy from the Corporate Secretary's office). The draft CA does not mention Peoples having to get their consultants to sign the CA, but I can put something in. Where are you? I talked to Carlos today and I believe he will be with us soon (if we can hire him). He is anxiously awaiting your return from NY. K- Kay Mann 11/09/2000 09:45 AM To: Kathleen Carnahan/NA/Enron@Enron cc: Subject: Re: enovate stuff Hi Kathleen, I want to get Laura Luce to direct us to give Gregg signing authority. As you know, the request for Ben came from Janet, not Ben. I'll check with her. do you have the LLC agreement to see how changes are handled? If not, you can get a copy of my copy. It is not a standard agreement. On the CA, please make the effective period two years from the latest disclosure of info, and the disclosures will be ongoing. I don't have the CA in front of me, but does it say that Peoples has to get their consultants to sign a CA as well? It is a good question. Ta ta for now, Kay From: Kathleen Carnahan 11/08/2000 08:27 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: Re: enovate stuff Kay, Gregg posed an interesting question yesterday regarding the Confidentiality Agreement. If Peoples supplies our confidential information to Arthur Andersen, and someone from AA tells the world our secrets, would Peoples be on the hook pursuant to our CA? I guess one way we could take care of this would be to include Arthur Andersen on Schedule I of the CA as one of Peoples' Representatives. Any thoughts? Also, I will work on getting Gregg signing authority re his message below. Kathleen ---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 11/08/2000 08:16 AM --------------------------- From: Gregg Penman on 11/07/2000 04:15 PM To: Kathleen Carnahan/NA/Enron@Enron cc: Kay Mann/Corp/Enron@Enron Subject: Re: enovate stuff Kathleen - This e-mail should aid in the preparation of the Board Resolutions. The attached file lists the appointment changes. As for my signature authority, I am expecting that I would need to sign on behalf of enovate, L.L.C., Enron MW, L.L.C. and I suppose Enron North America by association. The dollar amount can be set as low as practical. I think in the L.L.C. agreement the Board reserves the right to approve contracts in excess of $50,000. The real need is for pushing paper such as CA's, Master Purchase Agreements, etc. Here is another question, if my authority is limited, who has the authority to sign in excess of my limit? Laura Luce previously had such authority as General Manager (she is a VP at ENA). If she now becomes the Board Member, can she also sign on behalf of enovate? If so, is that because she is an officer of Enron MW or because she is a Board Member (i.e., can Peoples Board Member sign on behalf of enovate)? Thanks - Gregg ----- Forwarded by Gregg Penman/Corp/Enron on 11/07/2000 03:47 PM ----- Gregg Penman 10/31/2000 11:50 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: Re: enovate stuff 1) 3) I think we want it to apply to whatever entity employs the individuals with access. Most of these people will probably Peoples Energy Corp. employees, but I suppose we could make it also include all of their affiliates. enovate can sign the CA as well, but since enovate doesn't have any employees I was assuming we could use Peoples Energy as the responsible legal entity. 4) After 3:00 is fine, let me know for sure soon enough that I can lock Sarah up. Thanks, Gregg Kay Mann 10/31/2000 11:29 AM To: Gregg Penman/Corp/Enron@Enron cc: Subject: Re: enovate stuff 1)The cybergoblins ate the attachment. 2) OK 3) Which Peoples is it? Also, I think enovate should sign at CA. 4) I sent Heather an email re her availability. There's a bunch of construction near downtown, so I would hesitate to commit to an early call, but I know I'm free after 300 tomorrow. Kay From: Gregg Penman on 10/31/2000 11:25 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: enovate stuff Kay - 1) Attached is my quick attempt at writing something to make the management changes at enovate that we discussed. Could you please review this and add the appropriate legal language. I don't think that we need any Board approval for any of these changes, so is some type of notification sufficient? 2) I would like to address the idea of signature authorities other than Laura at the same time. My suggestion would be that Richard and myself be granted some level of authority to execute CA's, Master Agreements, etc. that have been reviewed and approved by legal. If you can at least pull the template you used to get approval for the Director you mentioned and see if there would be any changes necessary that would be helpful. 3) I need to get the CA form for the curves and other information started. We can discuss this any time you want. 4) What is your availability tomorrow either 8-9:15 or after 3:00 to discuss the intercompany loan agreement, and will Heather be available? I will be leaving around 2:00 for suburban trick or treating. Thanks, Gregg
Matt- I am unsure as to what Mike Dahlke is referencing when utilizing the term "Business Model Patent". If you believe it appropriate, perhaps you could clarify this with him. I note, that yesterday I was requested by Mike Grimes to join in on a conference call that was in progress. The question that Jae Moo had raised was as to whether we could state to the Korean authorities that the Japanese authorities had arrived at the conclusion that weather derivatives should be categorized as a commodity derivative, as opposed to a financial derivative. I informed the participants on the call that in Japan, weather derivatives are considered financial in nature, most analagous under the Japanese regulatory framework to FX and interest rate transactions. The basis for this, is that there can be no physical delivery with a weather derivative, as would be possible in a commodity type transaction, therefore resulting in the classification of a financial derivative. If I may be of further assistance, please contact me. My office phone number in Tokyo is 81-3 5219-4578. Cheers, John Matthias Lee@ECT 07/20/2000 02:32 AM To: Alan Aronowitz/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Edmund Cooper/LON/ECT@ECT, John Viverito/Corp/Enron@Enron cc: Angeline Poon/SIN/ECT@ECT Subject: Meeting with Kim & Chang - EOL Korean legal survey Alan, Mark,David, John, Edmund I had a telephone conference with Kim & Chang/Enron Korea this afternoon. The meeting was initiated by Mike Dahlke (APACHI Regulatory Affairs) and Jae Moo Lee (Enron Korea). Attendence: Mike Dahlke (Enron) Jae Moo Lee (Enron) Michelle Lee (Enron) Matt Lee (Enron- by telephone) SK Hong (Kim & Chang) Summary of issues discussed: 1. Whether Weather Derivatives will be classified as a Commodity Derivative or a Financial Derivative, since Korea has no experience with such a product. 2. Commodity Derivatives are defined in the FETR but does not seem to capture Weather Derivatives as reference is made to products that can be delivered or received. Financial Derivatives are not defined. 3. Commodity Derivatives require a prior reporting the the Bank of Korea for each trade. Financial Derivatives require prior approval from the Bank of Korea for each trade. Failure to make report or obtain approval means the Counterparty would not be able to remit funds to make payment. 4. Bank of Korea has informally advised K&C that, for Commodity Derivatives, the report can be made by the foreign counterparty (ie. Enron) and, notwithstanding it ought to be a prior report, can be done as soon as possible after the trade confirmation. However, Bank of Korea has the discretion to reject any report made. This would make a trade effectively unperformable or unenforceable. 5. Bank of Korea took on the role to receive such reports in April 1999 and informally informed K&C that they have yet to receive a single report. Prior to April 1999, reports were made to certain designated banks. 6. K&C advised that if the report is made by a Korean counterparty, it would have to declare why it is entering into the transaction and the risk it is hedging, but this requirement would not be applicable if the foreign copunterparty makes the report. I am of the opinion that this statement should be viewed with caution, especially since there is really no expereince in Korea of such reports being filed with the Bank of Korea. 7. For Financial Derivatives, prior approval is required before a trade is done and may take 3 to 5 days. 8. The reporting and approval requirements apply only to onshore Korean entities. 9. In order to determine how Weather Derivatives would be classified, K&C recommends approaching the Bank of Korea to make a detailed presentation. The Ministry of Finance and Economy (which is the legislative authority) may have to be approached if Bank of Korea is unable/unwilling to make a decision. Such lobbying is likely to be protracted. I have asked K&C to make informal enquiries as to whether Bank of Korea would likely classify Weather Derivatives as Commodity Derivatives or Financial Derivatives, and whether it would be receptive to presentation on Weather Derivatives. 10. K&C also advised that it would be preferred if the overtures to Bank of Korea can be made by Korean companies with a real interest in doing Weather Derivatives. K&C was of the view that Bank of Korea is conservative and may view Enron with some suspicion as a foreign company "out to make lots of money". 11. Mike Dahlke also brought up the issue of Business Model Patent in Japan which he had spoken with John V. about. John - could you fill me in, in case applicable to Korea? It seems to me the main obstacle is the issue of reporting to/approval from Bank of Korea. The reporting requirement applies to Liquid Fuel Derivatives, and the approval requirement would apply to the Financial Derivatives potentially offered out of Enron Japan. The Korean regulations do not seem to accomodate prompt telephone derivative trading, let alone instantaneous online derivative trading. Please advise next steps, in particular, do the commercial guys want to proceed with approaching Bank of Korea and how would it be coordinated. Meanwhile, I attach my comments and queries of K&C's memorandum for your review. Please let me know as soon as possible if you have other comments for me to revert to K&C. Regards Matt
Pls call Steve. Jim -----Original Message----- From: Montovano, Steve Sent: Friday, October 19, 2001 11:05 PM To: Steffes, James D. Subject: RE: Tariff changes effective October 22, 2001 I will check on the case. We were not aware or in this case. Could be an administrative filing however I will check and edvise. -----Original Message----- From: Steffes, James D. Sent: Friday, October 19, 2001 10:29 AM To: Montovano, Steve Subject: FW: Tariff changes effective October 22, 2001 Importance: High ???? -----Original Message----- From: Canovas, Guillermo Sent: Thursday, October 18, 2001 2:39 PM To: Montovano, Steve; Steffes, James D.; Shapiro, Richard Subject: FW: Tariff changes effective October 22, 2001 Importance: High Our EES folks want to know if anyone within Enron was involved in Columbia Gas of Pennsylvania Tariff changes. Please let me know what should I answer. Thanks Guillermo -----Original Message----- From: Vanderhorst, Barry Sent: Thursday, October 18, 2001 1:47 PM To: Canovas, Guillermo Subject: FW: Tariff changes effective October 22, 2001 Importance: High Can you determine if anyone within Enron was involved in these proceedings? This tariff change could be significant and this is the first we've hard of it. Please let me know. BV 3-3317 -----Original Message----- From: Driscoll-Ernest, Marde L. Sent: Wednesday, October 17, 2001 4:52 PM To: Migden, Janine Cc: Greif, Donna; Tate, Paul; Vanderhorst, Barry; Wiltfong, Jim; Sullivan, Colleen; Superty, Robert; Black, Don; Bray, Hayden Subject: FW: Tariff changes effective October 22, 2001 Importance: High Janine: Was anyone in regulatory involved with this? We found out this was coming last week at the CPA Shipper meeting. This is going to cause a curve shift which could have been minimized had we known it was coming. Thanks! mde -----Original Message----- From: Smith, Rhonda Sent: Wednesday, October 17, 2001 4:26 PM To: Bray, Hayden Cc: Driscoll-Ernest, Marde L.; Vanderhorst, Barry Subject: FW: Tariff changes effective October 22, 2001 Josh, Please make sure you are on Shirley's mailing list, I didn't see your name listed. Thanks -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Wednesday, October 17, 2001 4:09 PM 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]; [email protected]; [email protected]; [email protected] Subject: Tariff changes effective October 22, 2001 The following notice was posted on the Nominations Electronic Bulletin Board today: On October 12, 2001 the Pennsylvania Public Utility Commission approved Columbia's tariff filing to become effective on October 22, 2001, subject to an Administrative Law Judge Recommendation. This tariff filing includes several changes that may be important to suppliers, such as changes in Columbia's banking and balancing service, introduction of a new Flow Order Management Service, and a new Imbalance Trading Service. The full text of Columbia's original tariff proposals, as filed with the PA Public Utility Commission on August 22, 2001, can be accessed at the following site: h ttp://www.columbiagaspamd.com/products_services/tariff_revisions_effective_oct.htm Shippers serving aggregation pools on the Columbia Gas of Pennsylvania, Inc. system should carefully review Columbia's new Elective Balancing Service (proposed tariff pages 164 - 169) and choose one of the three balancing service options for each aggregation pool. Also, suppliers who have been designated as an authorized agent for non-aggregated customers may choose an elective balancing option on behalf of those customers. Columbia's current estimated rate for Option 1, Full Balancing Service, is as follows: SGS, SDS Customers $0.20/Mcf LDS, MLS Customers $0.10/Mcf Please note that Columbia's interruptible banking and balancing service will no longer be available. The cost for the interruptible service ($0.1109/Mcf for SGS and SDS, and $0.0358 for LDS and MLS) will be removed from customers' distribution rates when the new Elective Balancing Services become effective. Under the newly approved Elective Balancing Service (Rider EBS), customers or their authorized agents are given 20 days in which to elect their service option. Customers or their authorized agents who do not elect one of the three Elective Balancing Service options on or before November 12, 2001 will default to Option 1, Full Balancing Service. Columbia will post final rates for Rider EBS Option 1 by the close of business on November 15, 2001. If the final rates exceed the above estimated rates by more than 20%, customers or their authorized agents who have elected Option 1 may change their election by submitting a change to Columbia in writing by the close of business on November 20, 2001. Columbia will begin providing service under the elected option as of December 1, 2001. A form for the election of Rider EBS options will be e-mailed to the "notices" contact person for each supplier that is active on the Columbia Gas of Pennsylvania systemwhen it is available. Please contact your Columbia Gas of Pennsylvania, Inc. representative at 412-572-7117 with any questions relating to these new services. Attached are the forms and a brief outline of the changes. (See attached file: EBS & FOMS forms.doc) Shirley
Dear Steve, This week George Wasaff, Allan Sommer, PriceWaterhouse, and I showed Rick Buy, Rick Causey, and Philippe Bibi the HP portal demonstration. Each reacted favorably. We are scheduled to show Cindy Olson next week. Sound bytes below. Philippe Bibi ) 2/28/01 Philippe said, &I like this. Let,s get a proposal from PW.8 &This portal initiative must be justified not on savings, but on functionality. Savings is zero value. Soft savings are impossible to measure. Bridge the firewall. Marie, Allan, and George put together a cost analysis.8 Rick Causey ) 2/27/01 Rick said the HP portal, &hits the nail on the head. Let me know how it goes with Philippe, matter of fact I will try and attend tomorrow,s meeting with Philippe.8 Rick Causey would like to attend the HP off site visit with Steve. Further, he suggested if Philippe concurs, he would like Steve, Philippe and him to meet with Jeff Skilling to pitch the project. George Wasaff suggested he include Mark Frevert in this meeting. Rick Buy 2/27/01 Rick had a favorable response to the HP portal. He sees the HP portal as a productivity exercise. More Sound Bytes from Executive Sponsor Follow Up Meetings Philippe Bibi ) 2/28/01 After PW reviewed a number of portal applications, Philippe said they were good but not difficult. He requested to see transaction process and single sign on applications. PW showed Philippe their Travel application. PW emphasized this was the only way employees could schedule travel. Previously, employees would call the 800 number and incur a ~$100.00 charge. The online portal applications reduced the charge to $12.00. PW emphasized Chrysler was spending $200.00 million per year in training. The portal provided a skills inventory application which resulted in reducing the training expenditures down to $100 million per year. Philippe could see how this would be of value in a blue-collar environment but could not see the value in our environment. Philippe asked PW if they could demonstrate an application which was not something shrink wrapped off the shelf. PW showed him their stock option application and the training application. PW emphasized HP had 83 autonomous Business Units which needed to be united under this portal. Every day 90% of HP global employees access the portal. Why? The portal is the only way to access a number of job related applications. Philippe asked about ad hoc reports. He said Enron has a problem getting ad hoc reports. He said canned reports are not very useful. Further, he cannot get a quick ad hoc report of all the consultants currently billing and at what expense. Philippe said the ability to get in to SAP is a drawback. How did HP address applications that were not web enabled? Content management tools like iClick and interwoven were used as delivery mechanisms for making enhanced applications available via the web. Philippe said this is a vehicle to pull together travel, ibuyit, Paine Webber, Benefits, facilities, aviation, conference/video calls. What about the guy who is doing trading, logistics, settlements, transactions with the pipelines? Could this portal provide for that person? Philippe sees the only benefit for this person would be the single sign on. Philippe said, &Let me stress three things: 1) we have a series of initiatives click@home, IM Task Force, Data Repository 2) Enron is not that disciplined. We don,t want to get in the middle of policing publication of information over the web (Per Clay, Interwoven allows other BU/Fus to publish), 3) From an infrastructure perspective, the number of servers we run as far as web servers, we run them clustered.8 This portal initiative must be justified not on savings, but on functionality. Savings is zero value. Soft savings are impossible to measure. &Bridge the firewall.8 Marie, Allan, and George put together a cost analysis. Use PW as the catalyst. Philippe said we would need processes around security. Philippe would like to understand how HP did this. Philippe would like to see how to gap the bridges. He is in favor of taking customer applications and making them available from a single sign on. Philippe recommended Allan Sommer, George Wasaff and Marie Hejka get together and come up with about 80% of the cost analysis information which otherwise might have been developed during the two day workshop. Philippe recommends stopping other projects and focusing on this project. Rick Causey 3/01/01 Rick said the HP portal, &hits the nail on the head. Let me know how it goes with Philippe, matter of fact I will try and attend the meeting.8 Rick Causey would like to attend the HP off site visit with Steve. Further, he suggested if Philippe concurs, he would like Steve, Philippe and him to meet with Jeff Skilling to pitch the project. George Wasaff suggested he include Mark Frevert in this meeting. Rick see a few hurdles 1) getting buy in from all the companies 2) getting buy in from Jeff Skilling 3) getting buy in from the technical side. Also, noted is that Carly stopped 30 plus projects of web development to focus on this effort. The portal should include a forced information space to introduce new portal applications. Rick Buy 3/01/01 Rick had a favorable response to the HP portal. He sees the HP portal as a productivity exercise. How productive can this portal make Enron employees? Rick sees the single sign on, single launch pad as valuable. PW reviewed to Rick the value in cost savings 1) headcount reduction 2) hardware reduction 3) duplicate site reduction.
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How to profit from America's new focus on security in travel, computers, banking and elsewhere. ------------------------------------------------------------- ------------------------------------------------------------- Click Here for a FREE One-Month Subscription to Steve Harmon's Broadband Investor http://www.investools.com/c/go/BRBN/STREET-brbndCt?s=S601 or call 1-800-567-2683 and activate your free subscription with the help of our friendly customer service team. ------------------------------------------------------------- ------------------------------------------------------------- How Does He Do It? A former computer specialist and high-tech venture capitalist, Steve Harmon knows the ins & outs of the technology business -- and he sees things that most financial advisors and investors miss. Broadband Investor deciphers the confusion, chaos and disruption in the complex but lucrative sectors for today's investors. 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Richard, The only significant deposition this week is taking place in Minneapolis. The deponent is Arthur Cobb, a disclosure/due diligence expert retained by Robins, Kaplan in several cases in which Enron is not named. Mr. Cobb's report did not mention ECT Securities, and the California plaintiffs did not designate him to testify in the CA cases, so we decided not to attend his deposition. We are getting daily transcripts by e-mail. Next week an expert designated by the CA plaintiffs on causation and damage issues is being deposed in San Francisco. Roland has a scheduling conflict, so I am sending Jonathan Goldblatt. The subject on which we want to ask questions is damages relating to certain purchases by Farallon after the initial offering. This is a very discrete area, easy to understand, and Jonathan is on top of it. I believe that you recently received a bill from Gerry McGrath. Gerry worked very hard on his report, putting in about 50% more hours than he thought he would when he agreed to cap the total fee for his report. He is very focused on the requirement in his engagement letter that he be paid in 30 days. I think Gerry did quite a good job, and we definitely need his best effort going forward. I would urge Enron to pay Gerry's bill very promptly. Farallon is currently threatening to move to compel further answers to interrogatories from us. It is much ado about nothing. We just want to deal with it in the least expensive way. Many of the plaintiffs have filed motions around the country, including in CA, seeking to compel Natwest to produce more audio tapes of employee conversations. My guess is that the plaintiffs have found more good stuff, and Natwest is trying to limit their losses. We are hard at work on the research that you and I have been discussing. It is frankly quite complex and involves several unanswered questions of law. The problem is that CA has a special statutory contribution provision (pro rata, not relative fault) in the state securities statutes and a common law doctrine of partial indemnity in tort actions that is based on relative fault. The later doctrine may not apply to the securities causes of action against ECT Securities, but definitely applies to the common law fraud and negligent misrepresentation causes of action. How all of this works together is virtually uncharted. With reference to your question about procedures at trial, none of the defendants has cross-complained against the other defendants for a determination of relative fault in the pending case; and, on the basis of the current pleadings, no such determination will be made at trial. If Enron goes to trial and loses, along with others, theoretically the plaintiffs could collect their entire judgment from Enron and leave Enron to pursue the other defendants, post-trial, for their respective shares of the liability, whether such shares are determined pro rata or by relative fault. We are working on a memorandum or outline that will lay all of this out for you. I think you will find that Enron has some powerful incentives to settle (assuming that we can get the price low enough.) Steve Howard Alschuler Grossman Stein & Kahan LLP phone: 310-407-7613 fax: 310-552-6077 cell: 213-716-0536 e-mail: [email protected] ................................................ 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. ...............................................
INDIVIDUAL.COM Here's an article recommended by: Karen Denne and it comes to you via Individual.com, Inc. The following message was attached: HERE IS THE STORY WE WERE REQUESTED TO SEND YOU This story appeared on http://www.individual.com December 11, 2000 _________________________________________________________ California ISO Files Emergency Action With FERC to Deal With Electricity Supply Crisis FOLSOM, Calif.--(BUSINESS WIRE)--Dec. 8, 2000 via NewsEdge Corporation - While grappling with another Stage Two Emergency today, the California Independent System Operator (California ISO) is taking swift action to deal with a critical shortage of bids in the ISO market as well as serious underscheduling of electricity in the forward markets. The proposed market changes create the incentive to sell power in existing markets and allow the ISO to compete better for regional energy, which is in short supply throughout the western United States. This afternoon, the ISO filed an emergency tariff Amendment 33 filing with the Federal Energy Regulatory Commission (FERC). Commencing at 3:00 p.m. today Friday, December 8, 2000, the California ISO will implement a $250 "soft cap" on the ISO's Real-Time Energy Market similar to that proposed by FERC in its November 1 Order Proposing Remedies for California Wholesale Electric Markets (93 FERC 61,121). Analogous to the soft cap proposed by FERC, Energy bids prices in excess of $250/MWh will no longer be rejected by the ISO's computerized scheduling system but, instead, will be evaluated in price merit order. The California ISO has recently been placed in the position of having to negotiate prices for power in real-time and is finding it increasingly difficult to manage these negotiations while at the same time balancing supply and demand; causing significant risk to the California ISO's ability to maintain reliable control of the power grid. The ISO will no longer negotiate prices in real-time. To the extent the ISO issues dispatch instructions to Scheduling Coordinators (market participants) for energy bid prices in excess of the $250 soft cap, then settlement will be as-bid, subject to refund, if the costs cannot be verified. Market participants will be required to submit cost documentation to the FERC, with informational filings to the ISO and the state, supporting any Energy payments priced in excess of the soft cap. The current $250 price cap in Ancillary Service capacity bids is unaffected. Also, the market clearing prices for Ancillary Services and Imbalance Energy will continue to be calculated and posted up to the $250 soft cap. Amendment 33 proposes three key elements: 1. Implement a "soft cap" of $250/MWh for Imbalance Energy. This soft cap would limit market clearing prices to $250/MWh, but would allow market participants to submit bids over $250 if they submit verifiable costs. 2. Allocate the costs for energy purchases above the soft cap to Scheduling Coordinators who rely on the ISO's real-time energy purchases to meet their loads, rather than buying their own supplies in the forward markets; and 3. Impose penalties on Participating Generators that fail to comply with ISO dispatch instructions. Amendment 33 is posted on the ISO's website at www.caiso.com under FERC FILINGS on the home page. The ISO has seen a dramatic increase in costs for the power it buys in real time. For the first five days of December we averaged approximately $5 million per day. However, on December 5th we paid $36 million, December 7th $81 million. Failure to take action now would have the local utilities and ultimately their customers continue to face these extraordinary costs. The California ISO is charged with managing the flow of electricity along the long-distance, high-voltage power lines that make up the bulk of California's transmission system. The not-for-profit public-benefit corporation assumed the responsibility in March, 1998, when California opened its energy markets to competition and the state's investor-owned utilities turned their private transmission power lines over to the California ISO to manage. The mission of the California ISO is to safeguard the reliable delivery of electricity, facilitate markets and ensure equal access to a 12,500 circuit mile "electron highway." Teleconference for More Information -0- T When: Friday, December 8, 2000 at 3:30 p.m. PST Phone: 800/374-1387 Passcode: energy T CONTACT: California ISO \| Patrick Dorinson, 888/516-NEWS _________________________________________________________ Individual.com is the #1 provider of free, individualized news and information to business people over the Internet. Visit us at http://www.individual.com to browse the largest free collection of business, financial, industry, trade, and company-specific news and information on the web. This news story was sent by Karen Denne through Individual.com. You will not receive email messages directly from Individual.com unless you register at http://www.individual.com. Get more headlines and stories like this delivered FREE to your desktop every business morning! Register at http://www.individual.com/welcome.shtml. Individual.com also brings you FREE news on your investments! Sign up at http://www.individual.com/welcome.shtml. ___________________________________________________________ Entire contents Copyright , 1999-2000, Individual.comv, Inc., 8 New England Executive Park, Burlington, MA, 01803, USA
meet you at the elevator -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:34 PM To: Rybarski, Amanda Subject: RE: yep -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:33 PM To: Maggi, Mike Subject: RE: you need company? -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:33 PM To: Rybarski, Amanda Subject: RE: its working, im going to go smoke -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:32 PM To: Maggi, Mike Subject: RE: That was my plan! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:32 PM To: Rybarski, Amanda Subject: RE: youre killing me -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:32 PM To: Maggi, Mike Subject: RE: deal -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:31 PM To: Rybarski, Amanda Subject: RE: youll have to show me -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:30 PM To: Maggi, Mike Subject: RE: I know a few ways! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:30 PM To: Rybarski, Amanda Subject: RE: we can still find a way to have fun -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:30 PM To: Maggi, Mike Subject: RE: you don't know how much I miss it! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:29 PM To: Rybarski, Amanda Subject: RE: too bad no drinking -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:28 PM To: Maggi, Mike Subject: RE: we'll see about that -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:27 PM To: Rybarski, Amanda Subject: RE: not as much as me -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:27 PM To: Maggi, Mike Subject: RE: ooohhh, I'm excited! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:27 PM To: Rybarski, Amanda Subject: RE: youll see -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:27 PM To: Maggi, Mike Subject: RE: so where are we going to go? -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:26 PM To: Rybarski, Amanda Subject: RE: ok me too -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:26 PM To: Maggi, Mike Subject: RE: I'm not too sure yet...I'm going to try to leave around 3 or 3:30 -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:25 PM To: Rybarski, Amanda Subject: RE: i dont know what time are you -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:23 PM To: Maggi, Mike Subject: RE: What time are you leaving today? -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 1:23 PM To: Rybarski, Amanda Subject: RE: so lets go -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 1:18 PM To: Maggi, Mike Subject: RE: Yes! Believe me, I can't wait! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 11:46 AM To: Rybarski, Amanda Subject: RE: early this week i hope -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:30 AM To: Maggi, Mike Subject: RE: okay, I will...this week! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:29 AM To: Rybarski, Amanda Subject: RE: prove it -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:28 AM To: Maggi, Mike Subject: RE: you are the big cheese to me baby! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:27 AM To: Rybarski, Amanda Subject: RE: i dont really know what he is going to do, i thought i was always the big cheese -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:26 AM To: Maggi, Mike Subject: RE: REALLY, where is he going? Are you going to be the big cheese now? -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:25 AM To: Rybarski, Amanda Subject: RE: i am staying also but john is not -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:25 AM To: Maggi, Mike Subject: RE: no he's staying...what about you? -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:24 AM To: Rybarski, Amanda Subject: RE: me too, is chris leaving -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:24 AM To: Maggi, Mike Subject: RE: I wish...that would be my dream job! -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:23 AM To: Rybarski, Amanda Subject: RE: really, so who then, me? -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:23 AM To: Maggi, Mike Subject: RE: yeah, but I don't know for who...I don't think I will be working for Chris. -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:22 AM To: Rybarski, Amanda Subject: RE: im glad to hear that, so are you going to be doing the same thing -----Original Message----- From: Rybarski, Amanda Sent: Tuesday, January 22, 2002 10:21 AM To: Maggi, Mike Subject: RE: Not at all...I just now got my offer letter...FINALLY. What about you? Anything exciting? -----Original Message----- From: Maggi, Mike Sent: Tuesday, January 22, 2002 10:20 AM To: Rybarski, Amanda Subject: anything exciting going on over there
Here is a copy of the letter and related materials we submitted to the ISO tonight with the instruction that we would work to provide them additional names of a representative from the risk management and investment banking sectors next week. If any of you have any suggestions please let me know Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499 -----Original Message----- From: Katie Kaplan [mailto:[email protected]] Sent: Friday, March 16, 2001 12:31 PM To: 'Alex Sugaoka (E-mail)'; 'Bill Carlson (E-mail)'; 'Bill Woods (E-mail)'; 'Bob Ellery (E-mail)'; 'Bob Escalante (E-mail)'; 'Bob Gates (E-mail)'; 'Carolyn A Baker (E-mail)'; 'Cody Carter (E-mail)'; 'Curt Hatton (E-mail)'; 'Curtis Kebler (E-mail)'; 'David Parquet'; 'Dean Gosselin (E-mail)'; 'Doug Fernley (E-mail)'; 'Douglas Kerner (E-mail)'; 'Duane Nelsen (E-mail)'; 'Ed Tomeo (E-mail)'; 'Eileen Koch (E-mail)'; 'Eric Eisenman (E-mail)'; 'Frank DeRosa (E-mail)'; Frazier Blaylock (E-mail); 'Greg Blue (E-mail)'; 'Hap Boyd (E-mail)'; 'Hawks Jack (E-mail)'; 'Jack Pigott (E-mail)'; 'Jim Willey (E-mail)'; 'Joe Greco (E-mail)'; 'Joe Ronan (E-mail)'; 'John Stout (E-mail)'; 'Jonathan Weisgall (E-mail)'; 'Kate Castillo (E-mail)'; 'Kelly Lloyd (E-mail)'; 'Ken Hoffman (E-mail)'; 'Kent Fickett (E-mail)'; 'Kent Palmerton'; 'Lynn Lednicky (E-mail)'; 'Marty McFadden (E-mail)'; 'Paula Soos'; 'Randy Hickok (E-mail)'; Rick S. Koebbe (E-mail); 'Rob Lamkin (E-mail)'; 'Roger Pelote (E-mail)'; 'Ross Ain (E-mail)'; 'Stephanie Newell (E-mail)'; 'Steve Iliff'; 'Steve Ponder (E-mail)'; 'Susan J Mara (E-mail)'; 'Tony Wetzel (E-mail)'; 'William Hall (E-mail)'; 'Alex Makler (E-mail)'; Bob Szymanski (E-mail); 'D. Frank (E-mail)'; 'David Dickey (E-mail)'; 'Doug Levitt (E-mail)'; 'Ed Maddox (E-mail)'; 'Eric Edstrom'; 'Jeff Dasovich (E-mail)'; 'Julie Simon (E-mail)'; 'Lucian Fox (E-mail)'; 'Mark J. Smith'; 'Milton Schultz (E-mail)'; 'Nam Nguyen'; 'Paul Wood (E-mail)'; 'Pete Levitt (E-mail)'; 'Rich Dyer (E-mail)'; 'Robert Frees (E-mail)'; 'Scott Harlan'; 'Ted Cortopassi (E-mail)'; 'Thomas Heller (E-mail)'; 'Tom Hartman'; 'Ward Scobee (E-mail)' Cc: Carol H Hudson (E-mail); Steven Kelly (E-mail); Andy Brown (E-mail); Douglas Kerner (E-mail); Bob Weisenmiller (E-mail); Jan Smutny-Jones (E-mail); '[email protected]' Subject: URGENT PLEASE READ ASAP Importance: High Greetings: Yesterday at the ISO several of us were successful in communicating the need for a more diverse "Market Repair Team" that would include perhaps some additional members and a "Stakeholder Advisory Committee". We were also successful in communicating our cost-benefit analysis and delaying the immediate adoption of the team. The motion (approved 5-0) read: Board of Governors Market Repair Team MOVED, that the Board approve the concept of a Market Repair Team along the lines described in the Florio memorandum of March 14, 2001, and directs ISO management to provide a response to the proposal addressing among other issues, issues of cost/ benefit, conflicts of interest, team composition at the next Board meeting. IEP, CMUA, SMUD, and Grid Services were all asked to submit some proposed names by today to the ISO Management, please see below e-mail from Elaina: Today during the Public Comment, you all indicated that you might have names as potential members of the Advisory Group for the Market Repair Team. It is not clear at this point how the whole process will be structured, but we have been asked to put together a proposed game plan including names for potential members of the Advisory Group. Please send them to me ask quickly as you can: Friday pm is what Chairman Kahn asked for. We would like to be as responsive as possible to the request and have thought of the idea of proposing someone that EPSA uses in a variety of roles. CMUA will also probably be proposing someone from their national organization. The name that has been suggested for IEP to submit is Craig Roach of Boston Pacific consulting who has done extensive work for EPSA in supporting a competitive market policy. There is more information on Dr. Roach and Boston Consulting on their web site www.bostonpacific.com. I spoke with Julie Simon at EPSA this morning and she also gave him an enthusiastic endorsement. Another idea or an additional person to submit would be an economist that is involved heavily in California. Since both Hogan and Joskow have financial ties to market participants we may want to consider proposing our own economist. It is the plan to submit both names to the ISO as well as a letter addressing the following: 1. Raise very gently the issue of potential conflict of interest, coupled with cost/benefit analysis etc 2. Address structural issues, including how stakeholders will participate. 3. Propose more diversity for the Market Repair Team, 4. Propose a Stakeholder Advisory Group as a third box, and include stakeholders, including a regional perspective like neighboring control areas, and folks with operational and market experience It is crucial that if this plan sends up any red flags for you that you get back to me ASAP. I will be sending this letter to the ISO this afternoon after we get the logistics worked out. IF you have problems with this direction please supply additional names we can route with the group. I have talked to a few companies that were at the meeting yesterday and they are comfortable but wanted to make sure everyone had a say. Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499 - Letter to ISO.doc - Resume 03-2001.doc - WEISENMILLER short res2.doc - LIST OF TESTIMONIES AND PUBLICATION 03-2001.doc
> -----Original Message----- > From: Ledene, Ben > Sent: Tuesday, April 17, 2001 11:42 AM > To: '[email protected]' > Subject: FW: Wild Goose Open Season Package > > Expansion Firm Base Load Storage ("BLS") Service Open Season > > Wild Goose Storage Inc. is planning to expand its facility located in > Butte County in northern California and connected to PG&E for service > commencing as early as April 1, 2003. This expansion could increase the > facility capacities as follows: > > Existing Capacity Capacity Following Expansion > Working Gas Volume 14 Bcf 38 > Bcf > Maximum Injection Rate 80 MMcfd 450 > MMcfd > Maximum Withdrawal Rate 200 MMcfd 650 MMcfd > > This open season provides for an in-service date commencing April 1, 2004 > and an opportunity to participate in an "early service option" which could > have service available by April 1, 2003. The in-service date is subject to > CPUC approval by September 1, 2002 and the successful completion of new > facility construction. > > Customer offers are required by 2:00 pm MST, Tuesday May 22, 2001 > > Customer offers must be reasonably open for acceptance by Wild Goose > Storage Inc. until 2:00 pm MST, Wednesday June 20, 2001 subject only to > significant changes in market conditions and final approval of customer's > management. Preference for offer acceptance will be toward longer-term > contracts (greater than 5 years) and offers, which exceed 100% of our rack > rate. The offer sheets are provided in Microsoft Excel and are set up to > calculate the percentage of rack rate for your convenience. It is the > intent of Wild Goose Storage Inc. to negotiate and conclude contracts with > the participants providing acceptable offers in this open season as close > as possible to June 20, 2001. Wild Goose will announce to all contracted > participants whether it will proceed with the expansion in early August > 2001. Wild Goose Storage Inc. reserves the right to not necessarily accept > the highest priced offer nor to award all or any of the storage capacity > available. > > A reasonable summary of the main terms and features of BLS service is > attached for your convenience (Attached File - BLS Summary), but should > not be used as the sole terms by which service is to be provided. All > service is subject to the Tariff Schedules for Natural Gas Storage Service > of Wild Goose Storage Inc., as approved by the Public Utilities Commission > of the State of California. > > For more information about Wild Goose Storage Inc. or to download a copy > of the entire tariff please refer to our web site at > www.wildgoose-storage.com. > > Customer offers must include the following: > > A) Completed Offer Forms (Attached File - Offer Sheets) for each period of > service including: > > * the amount of Inventory Capacity Required for each April to March > period during the term > * the amount of Maximum Daily Injection Quantity Required by month > during the term > * the amount of Maximum Daily Withdrawal Quantity Required by month > during the term > * the Total Storage Demand Charge for each April to March period > during the term > * the Injection Commodity Rate for each April to March period during > the term > * the Withdrawal Commodity Rate for each April to March period during > the term > * a signature from an authorized employee of the company verifying the > offer > > In the 'Offer Sheets' file attachment you will find the following tabs at > the bottom: > > * an offer sheet in Excel format > * a manual offer sheet which can be printed out and filled in by hand > * an example offer > > B) An executed Storage Services Agreement (Attached File - Storage > Services Agreement) unless your company already has one on file with Wild > Goose Storage Inc. > > Early Service Option > > Once Wild Goose Storage Inc. gives notice in early August 2001 to proceed > with the expansion, every effort will be made to complete construction as > early as possible. Notice will be given by November 1, 2002 if service > will be available earlier than April 1, 2004. All contracted participants > will have the right, but not the obligation, to amend their contracts to > the earlier term start date and add this additional service to their > existing contracts at the same fees negotiated for the first year of > service commencing April 1, 2004. > > Rack Rates > Our rates are 'market based' meaning they are fully negotiable, but our > 'rack rates' are as follows: > Monthly Storage Demand Charges > * Inventory($/Dth) $0.03 > * Injection ($/Dth/day) $3.00 > * Withdrawal ($/Dth/day) $2.00 > > Variable Charges > * Injection Commodity Rate ($/Dth) $0.02 > * Withdrawal Commodity Rate ($/Dth) $0.02 > > Fuel Charges > > In addition to the Demand and Variable charges described above, fuel costs > are also charged based on actual consumption by customer and the value of > the gas on a daily basis. Fuel consumption is expected to be between 1.25 > to 1.75%. For details, please refer to the Wild Goose tariff. > > If you have any questions about this matter or need hard copies, please > contact either Ben Ledene with Wild Goose in Calgary at (403) 266-8192 or > Chris Price and Mark Baldwin with Interstate Gas Services in California at > (925) 243-0350. > <<BLS Summary.doc>> <<Expansion Offer Sheet.xls>> <<Storage Services > Agreement.doc>> <<Wild Goose Expansion Open Season.doc>> - BLS Summary.doc - Expansion Offer Sheet.xls - Storage Services Agreement.doc - Wild Goose Expansion Open Season.doc
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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Lindy -- FYI. This is just really informal so I'd prefer you not forward to anyone yet. Drew and Maria are most familiar with this so I'm going to get their feedback first before setting up a meeting. I'll get with you before I set a meeting time to see when you're available. ---------------------- Forwarded by Susan Scott/ET&S/Enron on 11/27/2000 06:27 PM --------------------------- Susan Scott 11/27/2000 06:28 PM To: Drew Fossum@ENRON, Maria Pavlou/ET&S/Enron@ENRON cc: Subject: Recourse rate dilemma: the sequel Maria and Drew, this is a long-winded e-mail but please bear with me... The problem: As you probably remember, several months ago several of us met to discuss the following language in the ROFR portion of Transwestern's tariff: "if the rate bid exceeds the maximum tariff rate, then the rate will be considered to be the maximum tariff rate," and the additional frustrating language "[a]ll available capacity shall be allocated under these procedures . . .." At our last meeting, we concluded that probably the best way to ensure that TW could capture the true value of the capacity would be to link the negotiated rate to index prices. However, since this usually involves an unacceptable amount of risk to both the shipper and TW, the marketers haven't done any index-based rates and have no current plans to enter into any such deals. I have been asked by the Commercial Group to revisit this issue and to think of other ways we could increase our ability to charge more than the maximum rate. Ideally they would like to eliminate the language I've quoted above. However, my research has indicated that absent our 1) bringing about radical change in the way FERC thinks about recourse rates or 2) showing that TW lacks market power, we are probably stuck with this language. Why the problem exists (you may already know): Steve Stojic and I did some looking into why the language is in our tariff in the first place. In the Alternative Rates Policy Statement (RM95-6-000), the Commission explained that it is willing to entertain individual requests for negotiated rates, but only where customers retain the ability to choose a cost-of-service based tariff rates. "[T]he availability of a recourse service would prevent pipelines from exercising market power by assuring that the customer can fall back to cost-based, traditional service if the pipeline unilaterally demands excessive prices or withholds service. Thus, the recourse rate mitigates market power." The Commission went on to confirmed that under ROFR provisions the highest rate that an existing shipper must match if it wishes to continue its transportation arrangement is the maximum tariff rate. This policy is clearly not limited to ROFR situations: when capacity is constrained, a shipper willing to pay only the recourse rate cannot lose access to capacity merely because someone else is willing to pay a negotiated rate. "When there are more requests for capacity than there is capacity available, then the pipeline must allocate capacity among those shippers willing to pay either the negotiated rate or the maximum recourse rate, for example on a pro rata basis if required by its tariff." The example cited by the Commission: If a pipeline has 100 Dth/d available and two shippers request that capacity, one who is willing to pay no more than the recourse rate of $5 and another a negotiated rate of $6, then each would be allocated 50 Dth/d on a pro rata basis (assuming the tariff provided for pro rata allocation and not some other allocation method such as lottery). When TW filed for authority to charge negotiated rates, it voluntarily added the statement that "if the rate bid exceeds the maximum tariff rate, then the rate will be considered to be the maximum tariff rate." Presumably we had concluded that we needed to add this recourse rate related provision in order to receive negotiated rate authority. Solutions?? I would like to know whether you concur that changing our tariff language outright is probably out of the question. I feel as if I've really been chasing my tail here. I have owed Lindy an answer for some time now. But I keep coming back to our having to prove lack of market power (which, Drew, is where I believe you were headed when we talked about this in mid-October). Steve Harris has asked whether we can just start small and remove the recourse rate cap as to only a portion of our system. I think we would still have to show lack of market power in order to do this. Do you agree? Stojic warns that proving lack of market power is a lengthy and expensive proposition. Might be worth it to us, though. Another idea is to somehow provide shippers with an incentive to pay more than max rate. After all, we do have authority to charge negotiated rates. We've seen one instance in which one of our marketers was able to get more than max rates for IT space based on good customer relations alone. However, despite our wonderful relationships with most of our customers, it's unlikely we can pull this off with any consistency. We wondered whether we might be able to get more than max rates in the context of an auction procedure. But I just am not convinced we could get around the Commission's requirement that recourse rates be available. That requirement has not changed. Have either of you seen anything to the contrary? I would like to meet with you two, plus several others I have in mind, to discuss this, preferably early this week (Tues. or Wed.), but would like to discuss briefly with you first. Please call me so we can talk for a few minutes. Thanks.
F.Y.I. Clinton Seeks Stepped-Up Power Probe --- Surging Prices for Electricity In California Spur Move; Emergency Loans Planned By Rebecca Smith and John J. Fialka Staff Reporters of The Wall Street Journal 08/24/2000 The Wall Street Journal A3 (Copyright (c) 2000, Dow Jones & Company, Inc.) WASHINGTON -- The Clinton Administration and federal energy regulators stepped up efforts to respond to a politically disastrous rise in California electricity prices, threatening to go as far as re-regulating some prices if they determine that the free-market experiment in the state has failed. The moves by federal authorities come as California regulators and lawmakers scramble to come up with an expedient solution to high power prices in the San Diego area, where monthly bills have in some cases quadrupled since last summer. In a 21-page order issued yesterday, the Federal Energy Regulatory Commission said that under the Federal Power Act it can intervene to limit the prices charged by generators to the California market -- if it determines the prices they are charging aren't "just and reasonable," and the market is not "workably competitive." The order accompanied an upgrade of the FERC's effort from a staff probe to a formal investigation, requested by President Clinton, who also yesterday extended $2.6 million in federal emergency loans to low-income residents in the San Diego area to help pay their electric bills. "There is a crisis of confidence in California wholesale electricity markets that threatens to erode the political consensus necessary to sustain a market-based approach to regulation,"William Massey, one of four FERC commissioners, said yesterday in an opinion attached to the order. "In these circumstances, the FERC must act forcefully and decisively to . . . insist that jurisdictional wholesale markets produce consumer benefits and just and reasonable rates." As prices have risen, power generators such as Duke Energy Co., the local utility, San Diego Gas & Electric Co. and public officials have all pointed the finger at one another for what appears to be a badly flawed market. California governor Gray Davis, who is pushing for local legislation that would lower bills and accelerate power-plant construction, yesterday said "out-of-state generators" were most responsible for "bringing San Diego residents to their knees." FERC's action yesterday originated in a complaint filed Aug. 2 by San Diego Gas & Electric Co, a unit of Sempra Energy, the utility whose customers have riased the most outrage over the rate rises. The utility sold off its plants and now buys all the power its customers use out of a state-sanctioned auction, passing those market costs directly through to its customers. Steve Baum, Sempra Energy chairman, said FERC's action is a warning to generators "that the prices they've been receiving are now at risk." He expects FERC to eventually issue a ruling that California's market isn't competitive, setting the stage for a possible return to cost-based rates in periods of high demand. Prior to deregulation in 1998, the rates utilities charged for electricity were based on their underlying cost. Deregulation allowed them to charge whatever the market would bear. Mr. Clinton said the the FERC investigation would allow Washington to "better understand" what is happening in the California market so the government can protect consumers there and in other deregulated states. While politicians and regulators seek solutions, wholesale power prices in California are becoming more aberrant. Even on days when consumption and prices normally drop, such as Sundays, prices have been stubbornly high this summer. For example, the auction price of electricity to be consumed at 10 p.m. last Sunday was $125.48 per megawatt, or more than four times the price such power commanded on the third Sunday of August in 1999. The markup is especially noteworthy because actual demand on that day was 12% lower than on the comparable day a year earlier. "A number of people are looking at the high prices trying to figure out what's going on," says Jesus Arredondo, spokesman for the state-sanctioned entity that runs the state's day-ahead energy auction, the California Power Exchange in Pasadena, Calif. These prices have remained high despite the best efforts of public officials. For instance, the organization that runs the state's electric grid and is responsible for keeping consumers constantly supplied with electricity has reduced the maximum price it will pay for electricity this summer to $250 per megawatt hour from $750. While this action has capped peak prices, it has also caused an increase in the overall number of hours in which prices are abnormally high. Take yesterday for instance. Prices for power in California never dropped below $108 per megawatt hour, even for power contracted for delivery in the dead of night, and the hourly price was at or above $200 in 13 of 24 hours despite only moderately high demand. California's problems are likely to step up pressure on Congress to pass omnibus legislation which would provide uniform national rules for deregulated state energy markets and make more efficient the interstate power-transmission system, Mr. Clinton said yesterday. The administration has pushed for such a measure but the House Commerce Committee, which has jurisdiction over the legislation, still appears deadlocked on the details. It plans to hold a hearing in California on electricity-market conditions there next month. --- Marc Lifsher contributed to this article --- Journal Link: See video of President Clinton announcing emergency funds to help low-income families in California pay electricity bills, in the online Journal at WSJ.com. Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
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Tony: Steve Schroeder and I are traveling and have no independent comments. Duke likes Enron's comments, but I'm also open to deferral discussions on Monday at 1:30. Thanks "Tony Palmer" <tony_palmer@transc To: "Gadd Eric" <[email protected]> anada.com> cc: Steve Patrick <[email protected]>, Bill Purcell <[email protected]>, Peter Lund 10/26/01 12:14 PM <[email protected]>, Byron Wright <[email protected]>, Jim Moore <[email protected]>, cavan carlton <[email protected]>, brad reese <[email protected]>, Steve Schroeder <[email protected]>, Murray Birch <[email protected]>, Donna Friesen <[email protected]>, "Fossum Drew" <[email protected]>, "Hill Robert" <[email protected]>, "McCarty Danny" <[email protected]> Subject: Re: ANNGTC MOU Gentlemen, Yesterday, Enron provided comments on the MOU which raise several new issues of substance. TransCanada & Westcoast recommend that these matters be deferred and included with our discussions on the commercial proposal and the Partnership Agreement, as we have agreed on a number of other issues. As we discussed on Tuesday's conference call, we believe the first priority for ANNGTC is to finalize the MOU now, & put it "on ice", to permit all parties to obtain the required governance approvals by Nov. 15 - also the press release would be drafted, circulated & approved and ready to go at that time. Secondly, the commercial proposal to ANS Producers must be initiated in early November to meet a mid-Dec. deadline. This proposal will of necessity have the group addressing the large commercial alternatives in order to establish a viable and attractive project. We recommend a conference call on Monday @ 1:30 PM (Mountain time) to finalize the MOU - we will arrange a dial-in #.. Please provide your comments on the MOU to Murray & I today. Tony "Gadd, Eric" wrote: > Please see the attached red-line with our comments. > > In paragraph 8, I've proposed new language to address that pre-existing > residual claims must be satisfactorily addressed before a new > partnership agreement would be executed. Also, I've outlined the > possibility for other forms of ownership than just a partnership. > > In paragraph 9, I've outlined a non-exhaustive list of issues to be > addressed in the joint development and coordination agreement. > > During the next round of discussions following the MOU, I would like to > explore the merits of rejoining partners having the right to rejoin as > either a developing or non-developing party. The outline structure I > propose would be as follows- > - In either case, ownership levels are as set out in the MOU > - A developing party would have full voting rights and full financial > responsibility during the development phase > - A non-developing party would make MOU payments but otherwise not have > voting rights or financial responsibility > - A non-developing party could become a developing party at a specific > time in the future and upon specific terms > - Non-developing parties would agree to release their claims for AFUDC > and interest to the extent commercially necessary > > Regards, > > Eric Gadd > > -----Original Message----- > From: Tony Palmer [mailto:[email protected]] > Sent: Thursday, October 25, 2001 3:13 PM > To: Steve Patrick; Bill Purcell; Peter Lund; Byron Wright; Gadd, Eric; > Jim Moore; cavan carlton; brad reese; Steve Schroeder > Cc: Murray Birch; Donna Friesen > Subject: ANNGTC MOU > > Now that the collective letter is on its way, could I request that you > please provide your comments on the MOU language Donna sent to you > yesterday. > Comments tomorrow AM would permit us to finalize this week. > > Thanks, > > Tony > > ******************************************************************** > 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. > ******************************************************************** > > ------------------------------------------------------------------------ > Name: MOU Letters Oct 23 Enron.doc > Type: Microsoft Word Document (application/msword) > MOU Letters Oct 23 Enron.doc Encoding: base64 > Description: MOU Letters Oct 23 Enron.doc > Download Status: Not downloaded with message
----- Forwarded by Tana Jones/HOU/ECT on 11/15/2000 02:52 PM ----- Tana Jones 11/14/2000 08:01 AM To: Marie Heard/Enron Communications@Enron Communications, Mark Taylor/HOU/ECT@ECT cc: Subject: FW: Good luck America ----- Forwarded by Tana Jones/HOU/ECT on 11/14/2000 08:01 AM ----- Jon Chapman 11/14/2000 03:42 AM To: Tana Jones/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT cc: Subject: FW: Good luck America And so it goes on ......... ---------------------- Forwarded by Jon Chapman/LON/ECT on 14/11/2000 09:44 --------------------------- [email protected] on 14/11/2000 05:21:06 To: [email protected], [email protected], [email protected] cc: Subject: FW: Good luck America David Davies National Manager - Chubb Traffic Services 02 9930 4318 / 0401 77 66 18 ---------------------- Forwarded by David Davies/NSW/Chubb on 14/11/2000 03:22 PM --------------------------- Tony Ayers <[email protected]> on 14/11/2000 04:15:44 PM To: "David Davies (E-mail)" <[email protected]>, "Mark Langan (E-mail)" <[email protected]>, "Patrick O'Callaghan (E-mail)" <[email protected]>, "Tony Ayers (E-mail)" <[email protected]> cc: Subject: FW: Good luck America -----Original Message----- From: [email protected] <mailto:[email protected]> [SMTP:[email protected]] <mailto:[SMTP:[email protected]]> Sent: Tuesday, 14 November 2000 15:13 To: [email protected]; <mailto:[email protected];> [email protected]; <mailto:[email protected];> [email protected]; <mailto:[email protected];> [email protected] <mailto:[email protected]> Subject: FW: Good luck America These are some quotes attributed to the would be American President George Bush Perhaps this is how upper management speak? Subject: Good luck America.... "The vast majority of our imports come from outside the country." ....George W. Bush, Jr. "If we don't succeed, we run the risk of failure." ....George W. Bush, Jr. "Republicans understand the importance of bondage between a mother and child." ....Governor George W. Bush, Jr. "Welcome to Mrs. Bush, and my fellow astronauts." ....Governor George W. Bush, Jr. "Mars is essentially in the same orbit...Mars is somewhat the same distance from the Sun, which is very important. We have seen pictures where there are canals, we believe, and water. If there is water, that means there is oxygen. If oxygen, that means we can breathe." ....Governor George W. Bush, Jr., 8/11/94 "The Holocaust was an obscene period in our nation's history. I mean in this century's history. But we all lived in this century. I didn't live in this century." ....Governor George W. Bush, Jr., 9/15/95 "I believe we are on an irreversible trend toward more freedom and democracy - but that could change." ....Governor George W. Bush, Jr., 5/22/98 "One word sums up probably the responsibility of any Governor, and that one word is 'to be prepared'." ....Governor George W. Bush, Jr., 12/6/93 "Verbosity leads to unclear, inarticulate things." ....Governor George W. Bush, Jr., 11/30/96 "I have made good judgments in the past. I have made good judgments in the future." ....Governor George W. Bush, Jr. "The future will be better tomorrow." ....Governor George W. Bush, Jr. "We're going to have the best educated American people in the world." ....Governor George W. Bush, Jr., 9/21/97 "People that are really very weird can get into sensitive positions and have a tremendous impact on history." ....Governor George W. Bush. "I stand by all the misstatements that I've made." ....Governor George W. Bush, Jr. to Sam Donaldson, 8/17/93 "We have a firm commitment to NATO, we are a part of NATO. We have a firm commitment to Europe. We are a part of Europe." ....Governor George W. Bush, Jr. "Public speaking is very easy." ....Governor George W. Bush, Jr. to reporters in 10/9 "I am not part of the problem. I am a Republican" ....Governor George W. Bush, Jr. "A low voter turnout is an indication of fewer people going to the polls." ....Governor George W. Bush, Jr "When I have been asked who caused the riots and the killing in LA, my answer has been direct & simple Who is to blame for the riots? The rioters are to blame. Who is to blame for the killings? The killers are to blame." ....George W. Bush, Jr. "Illegitimacy is something we should talk about in terms of not having it." ....Governor George W. Bush, Jr., 5/20/96 "We are ready for any unforeseen event that may or may not occur." ....Governor George W. Bush, Jr., 9/22/97 "For NASA, space is still a high priority." ....Governor George W. Bush, Jr., 9/5/93 "Quite frankly, teachers are the only profession that teach our children." ....Governor George W. Bush, Jr., 9/18/95 "The American people would not want to know of any misquotes that George Bush may or may not make." ....Governor George W. Bush, Jr. "We're all capable of mistakes, but I do not care to enlighten you on the mistakes we may or may not have made." ....Governor George W. Bush, Jr. "It isn't pollution that's harming the environment. It's the impurities in our air and water that are doing it." ....Governor George W. Bush, Jr. "[It's] time for the human race to enter the solar system." ....Governor George W. Bush, Jr. *********************************************************** This email and any files attached are considered confidential and intended solely for the use of the individual or entity to whom this email is addressed. If you have received this email in error please notify : ( [email protected] ) This footnote also confirms that the above email has been scanned for the presence of computer viruses. ***********************************************************
Citigroup And Oracle Strike Marketplace Deal -- COMPANIES TEAM TO OFFER INTEGRATED PAYMENT SERVICES ON BUSINESS-TO-BUSINESS EXCHANGES 11/20/2000 Citigroup is extending its reach as a provider of financial services to business-to-business marketplaces. The $82 billion company has struck a deal with Oracle to integrate its payment and financial-settlement services into the vendor's online marketplace platform, Oracle Exchange. In addition, Citigroup will co-brand and market OracleExchange.com, Oracle's trading exchange for business supplies, to business clients and deploy Oracle's E-procurement applications internally to simplify its own purchasing. Citigroup already offers its services, called CitiConnect, to rival marketplace companies i2 Technologies Inc. and Commerce One Inc. CitiConnect supports complex financial transactions, such as employee procurement-card purchases, electronic funds transfers, and cross-border payments, for businesses participating in exchanges, whether or not they're Citibank customers. Other financial companies target-ing this market include Chase Manhattan Bank Corp. and First Union Corp., which have partnerships with online marketplace software provider Metiom Inc.; Wachovia Corp. has aligned with Clarus Corp.; and ABN Amro, Bank of America, and US Bank have payment-services deals with Ariba Inc. "We see the role of banks in this space increasing as more commerce occurs online," says Ann Cairns, global E-solutions head at Citigroup's E-business unit. "The key thing that we bring in working with technology companies is an understanding and intellectual capital around security and privacy issues." But Cairns says few transactions occur on exchanges today. Most are building their marketplaces, she says. It may be a while before integrated payment services gain traction. A recent survey by AMR Research revealed that companies participating in exchanges are still most interested in product and vendor search capabilities, order status and tracking, and integration with partners. RetailExchange .com Inc., a business-to-business exchange for excess consumer goods, is working on integrated credit services with commercial finance firm CIT Group Inc. It plans to add shipping and payment services eventually, but says large companies already have departments with expertise in those areas. Says Ken Frieze, president and CEO of RetailExchange.com, "add-on transaction services have to be better and have a greater value proposition than what's available offline." ___________________________________________________________ o CheMatch.com Lays Off 8 Employees But Expects More Funding HOUSTON -- CheMatch.com, a marketplace for buying and selling bulk commodity chemicals, plastics, and fuel products, said it laid off 8 employees, reducing its workforce to 85. The company, which withdrew its IPO in October, also said it expects new funding before the end of the year from investors that include its original backers. CheMatch is backed by Battery Ventures, Bayer, Computer Sciences Corp., E.E. DuPont de Nemours & Co., Methanex, Millennium Chemicals, H. Muehlstein & Co., Reed Elsevier, Sprout Group, Stolt-Nielsen, and TownsendTarnell. http://www.chematch.com/ ________________________________________________ o Lockheed Spin-off TeraConnect Raises $40 Million Round One NASHUA, N.H. -- Optical component company TeraConnect said it completed its spin off from Lockheed Martin company Sanders with a $40 million first round funded by Goldman Sachs, Kodiak Venture Partners, and Spectrum Equity Investors. The company said it will use the funding for further product development. Kodiak Venture Partners managing general partner Dave Furneaux is chairman of TeraConnect's board of directors. TeraConnect develops optical components for router, server, and telecommunications infrastructure markets. Telephone 603-885-2988. _____________________________________________ o Data Communication Firm Bravida Lands $33 Million Series B PALO ALTO, Calif. -- Bravida, a developer of data communications infrastructure products, said it received $33 million in its Series B round of funding, led by Patricof & Co. Ventures. Advanced Technology Ventures, Anila Fund, i-Hatch Ventures, Onset, and St. Paul Ventures also participated. Michael Duran of Patricof & Co. and Moses S. Joseph from Anila Fund will join the company's board of directors. The company will use the funds for product development and to expand its staff. http://www.bravidacorp.com/ _____________________________________________ o HyperTrust, Hosted Security Firm, Has $1 Million Funding LEUVEN, Belgium -- HyperTrust, which is developing a hosted platform for secure communications and transactions based on digital signatures, said it raised EUR 1.24 million ($1 million) in its first funding. Investors in the round included Belgian business accelerator AdValvas Group and IT-Partners. The company said it will use the funding to continue its product development. HyperTrust rents secured infrastructure space to customers with a guarantee of security measures. Sir Martin Lagauw of AdValvas Group and Stefaan Nicolay of IT-Partners will both take seats on the company's board of directors. http://www.hypertrust.com/ _____________________________________________ o E-Payment Firm Trintech Buys Globeset for $31 Million SAN MATEO, Calif. -- Trintech, a publicly-traded provider of electronic payment infrastructure technology, said it has acquired another e-payment firm, Globeset, and all of its intellectual property rights to its software products. Globeset was acquired for $10 million in stock, $21 million in cash, and the assumption of liabilities. Globeset is backed by Compaq, CitiGroup, Deustche Bank, Chase Manhattan, American Express, and individual investors. http://www.trintech.com/ http://www.globeset.com/ _____________________________________________
----- Forwarded by Steven J Kean/NA/Enron on 09/20/2000 09:05 AM ----- Ann M Schmidt 09/19/2000 08:32 AM To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron cc: Subject: State's Power Grid Again Pushed to Brink of Rolling Blackouts Energy F.Y.I. Business; Financial Desk State's Power Grid Again Pushed to Brink of Rolling Blackouts Energy: High temperatures, generator shutdowns push usage within 5% of capacity. Heat wave is expected to continue today. NANCY RIVERA BROOKS 09/19/2000 Los Angeles Times Home Edition Page C-1 Copyright 2000 / The Times Mirror Company Sweltering weather across California pushed the state's heat-stressed electricity grid close to meltdown Monday, and state power officials urged electricity conservation because today and Wednesday could be even worse. Power was cut to hundreds of large business customers and about 125,000 residential and business air-conditioner and agricultural pumping customers Monday after the California Independent System Operator, which runs the electricity grid for about 75% of the state, declared a Stage 2 power emergency. At Stage 2, when the grid is using more than 95% of available power, the state's big investor-owned utilities are asked to interrupt power to customers that have agreed to this voluntary action in exchange for discounted rates. Grid reliability was threatened when two electricity units in Northern California stopped working for a time as heavy air-conditioner demand began to push power use higher, Cal-ISO spokeswoman Stephanie McCorkle said. Demand peaked at about 42,000 megawatts on the Cal-ISO grid, but the two unidentified units, representing about 320 megawatts of generation, were returned to service in the afternoon--in time to help keep the state from reaching its first Stage 3, which would lead to neighborhood blackouts. "We were right on the edge of warning about a possible Stage 3," McCorkle said. "A couple of generators fell offline in late morning, and that kind of gave everybody a scare." A Stage 3 emergency would be declared if power reserves fall below 1.5%--in essence, when the electricity grid is using more than 98.5% of available power--and rotating outages of nonessential customers for an hour or longer would become likely to keep the grid from failing. That would result in widespread blackouts lasting several hours. Electricity use was also high in the area served by the Los Angeles Department of Water and Power, peaking near 4,750 megawatts Monday. But DWP customers were not threatened by power interruptions or rolling blackouts because the municipal utility has more than enough generating capacity to meet demand. "We're doing OK as we have all summer long," said DWP General Manager S. David Freeman. Cal-ISO asked Southern California Edison, Pacific Gas & Electric and San Diego Gas & Electric to call on all of their interruptible-power customers to immediately stop using electricity, representing a potential 3,000 megawatts, or roughly the amount of electricity used by 3 million homes. Thousands of students at College of the Canyons in Valencia experienced the California equivalent of a snow day Monday when power outage alarms rang about 1:30 p.m, the seventh time this year, college spokesman Sue Bozman said. If the college doesn't pull the plug, it pays a big fine. "For several years, we saved $100,000 a year by being on this interruptible-service plan," said Bozman, who with other administrators finished the work day with mobile phones and portable computers. "But when the alarm rings and we decline to turn off our power, it's a whole different ballgame." One such day in May, during final exams, the college didn't cut power and penalties totaled $30,000, she said. During the height of Monday's power crisis, PG&E--whose territory suffered local blackouts on June 14 in a similar reliability emergency--kept an open telephone line to Cal-ISO for minute-by-minute updates, spokesman Ron Low said. SCE and the other utilities begged customers to use as little electricity as possible, and grocery stores around the state voluntarily reduced lighting and other power use to comply. "We're issuing a call to action, a call that everyone needs to take seriously," Pam Bass, SCE's senior vice president for customer service, said in a statement as electricity use soared Monday. "If the demand for power does not decrease soon, we will be directed by the state to begin shutting off power for blocks of customers. Everyone needs to cut their use of power now to avoid forced outages." Today and Wednesday could be even more challenging: Cal-ISO is predicting peak use of 44,827 megawatts for today. Peak demand was expected to be 44,537 megawatts on Monday, but conservation and power-interruption programs kept the total lower. "We are anticipating tomorrow to be a good deal like today," SCE spokeswoman Karen Shepard-Grimes said Monday. Electricity demand in SCE territory peaked at 17,860 megawatts before the Rosemead-based utility asked power customers to cut 2,500 megawatts of electricity. "It got really touchy today," she said. * Times staff writer Zanto Peabody contributed to this report. Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
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In order to continually develop and make improvements to the functionality of EnronOnline we are rolling out several changes tonight, which will be in effect on Monday August 20, 2001. Some of these changes will affect Stack Manager while others affect the Website. A summary of these changes is listed below. Stack Manager Changes Top of Stack limit orders - This feature will allow the price submitted via limit orders to be displayed on the website if their bid or offer is better than the trader's stack price. Stack Manger will list the price and the names of counterparties submitting such orders on the floated stack window. Orders will be queued by price and time stamp. When a counterparty trades on a " Top of Stack Entry" it will create back to back transactions; one between Enron and the counterparty submitting the order, and the other between Enron and the counterparty clicking on the website. In order to turn on this functionality select the " Allowed Top of Stack" option, in the Orders section of the product properties page. If regular limit order functionality is desired the "Allowed" option should be selected. Please note that this feature will be released in a disabled mode and will be turned on sometime next week after determining which business units want to roll this out. Restricted Top of Stack limit orders - This feature will allow the price submitted only by internal traders via limit orders to be displayed on the website if their bid or offer is better than the trader's stack price. Stack Manger will list price and the names of counterparties submitting such orders on the floated stack window. Orders will be queued by price and time stamp. When a counterparty trades on a " Top of Stack Entry" it will create back to back transactions one between Enron and the counterparty submitting the order, and the other between Enron and the counterparty clicking on the website. In order to turn on this functionality select the " allowed as Restricted Top of Stack" option, in the Orders section of the product properties page. If regular limit order functionality is desired the "Allowed" option should be selected. If a product has active orders against it you will not be able to select the "Restricted Top of Stack" feature. Advanced Filtering Ability on All Products Tab - Drop down filtering capability is now available for each field in the All Products tab in stack manager. In order to filter click on the arrow next to the field title. A drop down box with a list of attributes will appear. Highlight the attribute by which you wish to filter. To turn off the filter click on the arrow and select the " All" option from the drop down box. Website Changes New Submission Screen for Restricted Top of Stack Limit Orders - The submission screen for products that allow Top of Stack or Restricted Top of Stack limit orders is as follows. The submit button on the left makes a submission for a normal transaction, while the button on the right will submit as a limit order. In case of the Restricted Top of Stack limit orders only internal traders will see the new submission box. Price of Limit Orders Modify Limit Orders Customers now have the ability to modify the price of any active order. In order to do so highlight the order to be modified and use the plus or minus sign next to the price field on at the top of the "Today's Orders" section. The price will move up or down in the same increments as the tick size for that product. Once the price is at the desired level click the "Set" button and the price will be modified. Another way to modify the price on a limit order is to click on the price field on a particular limit order. You will see a box with plus, minus and set buttons that allow you to modify that order. Expiration time for Limit Orders Customers can now place limit orders with expiration times of up to 30 days. Currently they may place orders for only up to 12 hours. Float the Today's Orders Section You can now float the " Limit Order " section. In order to do so, right click in the "Today's Orders " section and select the float window option. In order to make the window " Stay On Top " right click on the floated window and select the stay on top option. Mid Market Client - Mid market originators will now have the ability to transact on behalf of their customers, while including their desired margin on the trade, on EnronOnline products. In order to do so Click on the bid or offer price, a customised submission window will appear. Select the counterparty for whom you wish to transact from a drop down list , enter the desired customer price and margin and click submit. For example if a customer wants to buy Nymex Sep 01 at 3.36 and you wish to have a 1 cent margin, please enter 3.36 as the desired price and 0.01 as the margin. The system will trade the order when the EnronOnline offer for Nymex Sep 01 is at 3.35, book the trade at 3.36 and record the 0.01 origination amount. In order to be set up to use this functionality. Please call the EnronOnline Product Control Group. Changes to Website Passwords - As an added security measure, which has been requested by many customers, some new password rules have been instituted. First, the password cannot be equal to the login ID. Second, each user will be prompted to change his password every 90 days. These rules apply to all website passwords for both internal and external users. Please note Stack Manager changes will be available all traders as of Monday August 20, 2001. The changes to the website will be rolled out to a few internal users on Monday with the rest of the internal users being upgraded Monday night, and external users by the end of the week. Over the next couple of weeks all users will be prompted to change their website passwords. If you have any questions regarding these changes please contact me at 713-853-1787. Savita Puthigai <Embedded Paintbrush Picture>
Shirley, Please, put it on my calendar. Vince ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001 05:03 PM --------------------------- "Michael A. Crew" <[email protected]> on 03/15/2001 07:34:38 PM To: [email protected], [email protected] cc: [email protected], [email protected] Subject: Re: Fwd: Invitation to the 20th Annual Rutgers Conference Vince, I am delighted that you accept our invitation. We hope it works out that you can attend the whole conference as we are confident that you will find the program stimulating and will enjoy getting to know our participants. The pleasure will certainly be mutual. You will bring a new and different perspective from which we can all benefit. Michael At 05:54 PM 3/15/01 EST, [email protected] wrote: >>>> Paul, Thank you for the invitation to speak at the Eastern Conferences on Regulation and Competition on May the 25th. I shall be glad to attend and make an after dinner presentation. I hope to be able to attend the entire conference. Sorry for a delay in responding to your message. I have been traveling extensively in the last few weeks. Vince Return-path: From: [email protected] Full-name: VKaminski Message-ID: Date: Thu, 15 Mar 2001 17:04:02 EST Subject: Fwd: Invitation to the 20th Annual Rutgers Conference To: [email protected] MIME-Version: 1.0 Content-Type: multipart/mixed; boundary="part2_70.8aeec19.27e29652_boundary" X-Mailer: AOL 6.0 for Windows US sub 10501 Return-Path: Received: from rly-yh03.mx.aol.com (rly-yh03.mail.aol.com [172.18.147.35]) by air-yh03.mail.aol.com (v77_r1.21) with ESMTP; Fri, 09 Mar 2001 18:01:27 -0500 Received: from postmaster.enron.com (outbound5.enron.com [192.152.140.9]) by rly-yh03.mx.aol.com (v77_r1.21) with ESMTP; Fri, 09 Mar 2001 18:01:01 -0500 Received: from mailman.enron.com (mailman.enron.com [192.168.189.66]) by postmaster.enron.com (8.8.8/8.8.8/postmaster-1.00) with ESMTP id XAA02258 for ; Fri, 9 Mar 2001 23:00:59 GMT From: [email protected] Received: from nahou-msmsw03px.corp.enron.com ([172.28.10.39]) by mailman.enron.com (8.10.1/8.10.1/corp-1.05) with ESMTP id f29N0xP22494 for ; Fri, 9 Mar 2001 17:00:59 -0600 (CST) Received: from ene-mta01.enron.com (unverified) by nahou-msmsw03px.corp.enron.com (Content Technologies SMTPRS 4.1.5) with ESMTP id for ; Fri, 9 Mar 2001 17:01:07 -0600 Subject: Invitation to the 20th Annual Rutgers Conference To: [email protected] Date: Fri, 9 Mar 2001 17:00:58 -0600 Message-ID: X-MIMETrack: Serialize by Router on ENE-MTA01/Enron(Release 5.0.6 \|December 14, 2000) at 03/09/2001 04:58:03 PM MIME-Version: 1.0 Content-type: text/plain; charset=us-ascii X-Mailer: Unknown (No Version) ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/09/2001 05:01 PM --------------------------- "Kleindorfer, Paul" on 03/08/2001 03:41:21 PM To: "'[email protected]'" cc: "'[email protected]'" Subject: Invitation to the 20th Annual Rutgers Conference Vince: For two decades now, I have been a member of the faculty helping to organize the Eastern Conferences on Regulation and Competition that Michael Crew of Rutgers has chaired. This year will be, in fact, the 20th anniversary conference and a number of notable personages will be joining us to celebrate what we have learned and what we haven't about the economics of network industries. Fred Kahn, Al Philipps, Bill Hogan and a number of other distinguished academics will be reviewing our progress and the prospects for the future. The conference will take place at a beautiful site in the Poconos, about 90 minutes north of Philadelphia, from Wednesday afternoon May 24th to Friday afternoon May 26th. You can check for yourself the nature of the program and the conference site/hotel at the following website URL: http://www.rci.rutgers.edu/~crri/WS.htm Michael Crew and I would both be delighted if you would be willing to be an after dinner speaker on Thursday evening (May 25th), just before the key research reviews of Friday morning take place on the electricity, telephone and gas industries, and following a day of special topics on emerging power markets and other developments in network industries. Naturally we would be pleased if you would be able to stay for the entire conference, but knowing your schedule, you may only have time for a part of it. That would not be a problem. The usual after-dinner address is for 30 minutes, followed by a short Q&A period. Your presentation would help to underline the tremendous importance of Enron in driving the development of new risk instruments to assist in price discovery and efficient risk management for market participants, in energy markets and more generally. Both Michael and I feel that your perspectives on the "new science of risk management" and what can be expected from it could be a very important addition to this special anniversay event. Please let me know (and please do copy Michael on your response) whether your schedule will allow your participation in this very special event. Michael and I would, of course, be very happy to follow up with you in discussing the nature of the presentation, participants and so forth, if this is a go. I look forward to hearing from you. Regards, Paul Paul Kleindorfer 215 898-5830 Michael A. Crew Professor II Director - Center for Research in Regulated Industries Editor - Journal of Regulatory Economics Rutgers University, Graduate School of Management 180 University Avenue Newark, N.J. 07102-1897 phone: 973 353 5049 fax: 973 353 1348 http://www-rci.rutgers.edu/~crri
I would appreciate your thoughts on the legal implications of netting. Thanks!! ---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 10/23/2000 03:19 PM --------------------------- From: Tanya Rohauer 10/23/2000 03:26 PM To: Nancy Haralson/NA/Enron@ENRON cc: Debbie R Brackett/HOU/ECT@ECT, Rebecca Ford/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT Subject: EGM Bank Account info Nancy, When did you leave EBS? When you have a few minutes, I'd like to discuss how we are breaking out internal business groups activity. Specifically, my concern is with using separate bank accounts for different commodities that are settled financially within Enron North America Corp (legal entity). We met with the financial settlements group today to discuss credit issues surrounding settlements, and this emerged as one of the more important issues. As you may be aware, the ISDA document calls for all payments that are due on the same day to be netted together. If we use separate bank accounts, this cannot happen. There are two credit issues with not adhering to this: 1) if we send payment to a cp for one commodity but do not receive the payment that may be owed to us for another commodity, we have lost the ability to net those payments, and will be at risk for the outgoing amount, and 2) in a default situation, our position on close-out netting may be compromised if we have not been netting in practice. I am not sure how often this occurs in reality due to different settlement dates for different products. I also need to speak to Mark Taylor to determine the likelihood of our legal position in court being compromised. Can you help me to understand why we need to have different bank accounts? I understand that for internal reporting purposes, we need to use different ledger accounts, but I would not think we would need to extend this to the physical movement of cash. Thanks for your help, Tanya ---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 10/23/2000 03:05 PM --------------------------- Rebecca Ford 10/23/2000 03:02 PM To: Debbie R Brackett/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT cc: Subject: EGM Bank Account info Just FYI - The note below indicates that all of the weather transactions that are settling out of 0364 will now be settling out of 0460, thus using the new bank account that has been set up for 0460. Thank you, Becky ---------------------- Forwarded by Rebecca Ford/HOU/ECT on 10/23/2000 02:59 PM --------------------------- From: Scott Tackett@ENRON on 10/23/2000 02:19 PM To: Rebecca Ford/HOU/ECT@ECT cc: Subject: EGM Bank Account info Here are the accounting changes I received from Nancy for the migration of the Weather group over to EGM. Do you think it is possible for us to have all the changes made (in UNIFY, GCP, etc...) so we are ready by the end of the first week in November? ---------------------- Forwarded by Scott Tackett/Corp/Enron on 10/23/2000 02:08 PM --------------------------- Nancy Haralson 10/23/2000 02:06 PM To: Scott Tackett/Corp/Enron@Enron, Laurel Adams/HOU/ECT@ECT, [email protected] cc: [email protected], [email protected], [email protected] Subject: EGM Bank Account info Scott/Laurel/Julia, The cash services company for EGM is 1021. The following bank accounts currently exist: GL Acct Description Account # Routing 12805077 GP Cash Svc CIDE 38616564 031100209 12805078 GP Cash Svc CINY 30420778 021000089 12805079 GP Cash Svc BATX 3751443308 111000012 All cash that is received and paid from ENA's cash services account related to EGM will need to be redirected to the applicable account above and coordinated with the any Global Counterparty changes as well. There is also a BATX account on co 460. The information is as follows: GL Acct Description Account # Routing 12805051 ECT IES BATX Bank Acct 375143337 111000012 Receipts for EGM that went directly to co 364 should be redirected to co 460. Laurel also mentioned a Japanese Yen acct, a EURO acct, and Sterling acct that exist on co 530 that will be transferred to EGM (co 1Y2?) EGM will also require a CAD account to be set up (co 1Y2?) Thanks Nancy ---------------------- Forwarded by Nancy Haralson/NA/Enron on 10/23/2000 10:43 AM --------------------------- Nancy Haralson 10/20/2000 05:18 PM To: Scott Tackett/Corp/Enron@Enron, Laurel Adams/HOU/ECT@ECT cc: Angeles Beltri/HOU/ECT@ECT, Thomas Myers/HOU/ECT@ECT Subject: EGM settlements In order to segregate EGM's business activity, it will be necessary to record transactions related to EGM's business unit on entities within its own reporting rollup. Currently, there is EGM settlement activity being booked to the following companies that are outside EGM's rollup: Co 364 - Weather Trading,Emissions Co 54N - Emissions Trading Co 967 - Weather Trading, Emissions Trading, Agricultural Trading, Interest rate, FX Going forward (effective November), monthly activity on Co 364 related to EGM will be recorded on co 460, Co 54N on Co 460, and Co 967 on Co 1Y2. In order to make this a smooth transition, but still make the change in an timely fashion, please give me your feedback on this as soon as possible. Please let me know your issues concerning A/R, A/P, Cash, Global Counterparty and any other areas I may be leaving out. I'll contact you on Monday to discuss further and see if this is feasible. It is also our intent to move ytd September balances related to EGM's business to entities with in our own rollup. This will probably be done at the CS/Hyperion level. Since there are October transactions already recorded, we will probably make a general ledger reclass for October income statement activity to EGM's rollup. Please let me know if you have issues with this as well. Thanks! Nancy
-----Original Message----- From: Black, Tamara Jae Sent: Wednesday, November 14, 2001 8:36 AM To: /o=ENRON/ou=NA/cn=Recipients/cn=notesaddr/cn=a478079f-55e1f3b0-862566fa-612229; Abler, William; Aggarwal, Anubhav; Allen, Diana; Arora, Harry; Bailey, Debra; Ballato, Russell; Ballinger, Ted; Baughman Jr., Don; Baughman, Edward D.; Benchluch, Moises; Benjelloun, Hicham; Benson, Robert; Bentley, Corry; Black, Tamara Jae; Blaine, Jay; Bolt, Laurel; Broderick, Paul J.; Broussard, Richard; Burnett, Lisa; Campbell, Larry F.; Capasso, Joe; Carson, Mike; Chen, Alan; Chen, Hai; Choate, Jason; Cline, Kevin; Clynes, Terri; Collins, Dustin; Comeaux, Keith; Coulter, Kayne; Davis, Mark Dana; Day, Smith L.; Dean, Clint; Decook, Todd; Emesih, Gerald; Errigo, Joe; Forney, John M.; Freije, William; Garcia, Miguel L.; Gilbert, Gerald; Gilbert-smith, Doug; Giron, Gustavo; Greer, Andrew; Gualy, Jaime; Guerra, Claudia; Gulmeden, Utku; Gupta, Gautam; Ha, Amie; Hanse, Patrick; Imai, Rika; Ingram, David; Jenkins IV, Daniel; Kaniss, Jason; Kelly, Mike E.; King, Jeff; Kinser, John; Larkworthy, Carrie; Laurent, Dean; Laverell, Justin; Lenartowicz, Chris; Lorenz, Matt; Lotz, Gretchen; Lowell, Thomas; Mack, Iris; Mahajan, Ashish; Makkai, Peter; Marquez, Mauricio; Maskell, David; May, Tom; McElreath, Alexander; Miller, Jeffrey; Oh, Seung-Taek; Olinde Jr., Steve; Pace, Andy; Padron, Juan; Pan, Steve; Philip, Willis; Podurgiel, Laura; Poppa, John D.; Presto, Kevin M.; Rawal, Punit; Rodriquez, Andy; Rogers, Benjamin; Rust, Bill; Ryan, David; Saibi, Eric; Schiavone, Paul; Schneider, Bryce; Seely, Michael; Serio, Erik; Shoemake, Lisa; Stalford, Robert; Stepenovitch, Joe; Sturm, Fletcher J.; Suarez, John; Symms, Mark; Tamma, Ramanarao; Thomas, Paul D.; Trejo, Reese; Valdes, Maria; Vernon, Clayton; Wang, Steve; Williams, Ryan; Willis, Cory; Zipperer, Mike; Carroll, Lex; Dalton III, Oscar; Forster, David; Ratliff, Beau; Valderrama, Larry Subject: FW: Move Related Issues As you all know, our move is scheduled for this weekend. ? Voicemail instructions - Please have everyone in your group clear all new voicemail messages by 5:00 PM, Friday, 11/16. All saved messages, greetings and recorded names will be saved. If a message is left before cutover the message will be saved, but the message light will not be displayed when you arrive. As a precautionary meassure please check voice mail upon your arrival Monday morning even if the message light isn't on. ? Building access - ECS will not be available for general access until Monday morning at 5:00 AM. Due to the gas and power moves being combined, it is unlikely that the move team will be prepared for the POC's to come in on Sunday to unpack. (Separate instructions will be generated for those who are needed to test trading applications.) NOTE: Only those whose names have been approved and submitted to security will be allowed access on Sunday. o Monday - 5:00 AM for all employees ? Security & badges - All POC team members should be familiar with the routes into ECS as we discussed at our recent move meeting. Please be sure to share this information with all of the people in your group. If you need additional copies of the floor plans that have the access routes highlighted, please contact Carli Smith (5-3473). Please stress to everyone to have their badges with them at all times. No one will be allowed access without their badge. If anyone tries to access the building from the garage via the skyring and they do not have their badge, they will be sent back through the garage to the street level to walk across the street to the round kiosk in the Enron building lobby to get a guest pass and then proceed back to ECS via the 2nd floor and the skyring. ? Move team colors - As mentioned at the move meeting, the following is a list of the color designations (vests) for the various teams that will be on the floor when we move in. o Red - Move Team o Orange - Desktop Support/IT o Green - Telephony ? Newspaper subscriptions - The delivery location for all newspaper subscriptions need to be changed to ECS 05/06. It is our intention to have all daily newspapers delivered to the mail desk located in the ECS 2nd floor corridor. It will be the responsibility of the assistants to either pick up the papers for their group or designate someone in their group to pick up the papers. If your papers continue to be delivered to your old floor of ECN, contact Sunny Rodgers (3-6116). ? Move boxes - Please encourage your group to pack and bring no more than about 4 boxes per person. ? Move labels - If you run out of labels or if you are missing any labels, please call Carli Smith (5-3473) to have additional or missing labels printed. ? Laptops - Important - Please ensure that all cable locks have been removed from all laptop computers by 5:00 PM on Friday. If any cable locks are left on the computers they will be destroyed by the move team in order to move the computers as scheduled. . Bottled water - Every kitchen has an ice machine that also dispenses filtered water. The large bottles of water (5 gallon) will not be allowed on the floor. We would also like to discourage the use of small bottles of water due to limited storage space and the availability of filtered water at several locations. ? Phone sets - Although most of you are aware of this, we just wanted to remind you that there will be only one phone on each desk - either a turret or an Avaya, but not both. Do not tag your phones, a new phone will be waiting for each person on their desk in the new building I hope I have covered some of the outstanding questions or issues you might have, but if I have missed something, please let me know. Thanks so much for all your help and hard work. PLEASE NOTE THAT WE WILL NEED TO BE PACKED AND READY TO MOVE BY 2PM ON FRIDAY, 11/16/01. Please let me know if you have any questions...thanks for your support with the move. T.Jae, Lisa, Claudia & Lloyd
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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]
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/17/2000 04:00 PM --------------------------- From: Doug Leach 08/17/2000 10:00 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Re: Cairn Gas Purchase Bid fyi ---------------------- Forwarded by Doug Leach/HOU/ECT on 08/17/2000 09:59 AM --------------------------- Douglas S Parsons@ENRON_DEVELOPMENT 08/15/2000 09:30 AM To: Doug Leach/HOU/ECT@ECT cc: Marc De La Roche/HOU/ECT@ECT Subject: Re: Cairn Gas Purchase Bid I can appreciate and share your objective. Earlier today I sent a separate note to Vince forwarding your concerns and asking again for his assistance. I'll start there and if needed I'll contact Michael Popkin's structuring group. However, before getting too many people involved I want to see what feedback we get from Cairn after they've discussed the offers internally this week. Doug Leach@ECT 08/15/2000 08:37 AM To: Douglas S Parsons/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Marc De La Roche/HOU/ECT@ECT Subject: Re: Cairn Gas Purchase Bid I gave you several clear alternatives such as contacting Vince's structuring group, Michael Popkin's Southern Cone structuring group and a long discussion regarding the pricing and suggested "collar." I also asked if you had spoken to your customer about what they were willing to pay, but that was a non starter. Trust me, I have seen almost every bad deal Enron has entered into or attempted to enter into and I am trying to get Metgas to objectively relook at their offer to Cairn become it becomes another bad deal. Douglas S Parsons@ENRON_DEVELOPMENT 08/15/2000 08:31 AM To: Doug Leach/HOU/ECT@ECT cc: Subject: Re: Cairn Gas Purchase Bid That's fine, but don't you think I would also prefer not receiving criticism that assumes I didn't do something and provides no clear alternative. Doug Leach@ECT 08/15/2000 07:52 AM To: Douglas S Parsons/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Marc De La Roche/HOU/ECT@ECT, Bobby Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: Cairn Gas Purchase Bid You spoke to me once and I gave you my opinions which were contrary to your resultant offer to Cairn. Currently, I have better things to do with my time. Douglas S Parsons@ENRON_DEVELOPMENT 08/15/2000 12:10 AM To: Doug Leach/HOU/ECT@ECT cc: Marc De La Roche/HOU/ECT@ECT, Bobby Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: Cairn Gas Purchase Bid I talked to Vince after we hung up and his only suggestion was to call Sandeep Kohli. I spoke with Marc and yourself four times on this matter over a 3 day period and given the timing, I put forth a non-binding offer, after discussing it further with Bobby, based on the information I had that appears to position us close to our competitors offers. We haven't committed ourselves and should we be selected for negotiations there are numerous variables to affect the outcome. If you've got any suggestions for a better deal, please advise. Doug Leach@ECT 08/14/2000 07:45 AM To: Douglas S Parsons/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Marc De La Roche/HOU/ECT@ECT, Bobby Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: Cairn Gas Purchase Bid I strongly disagree with the pricing and structure of your non-binding offer to Cairn. This reminds me of the debacle in Brazil. You should have contacted Vince Kaminski's research group as we talked about before an offer was made. This is a bad deal. Douglas S Parsons@ENRON_DEVELOPMENT 08/12/2000 01:51 AM To: Doug Leach@ECT, Marc De La Roche@ECT cc: Subject: Cairn Gas Purchase Bid Doug & Marc, FYI, please let me know if you think we're totally off base. I appreciate your help. Regards, Doug ---------------------- Forwarded by Douglas S Parsons/ENRON_DEVELOPMENT on 08/12/2000 01:48 AM --------------------------- Douglas S Parsons 08/11/2000 06:24 AM To: Bobby Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: F B Virani/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ujjwal Dey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nilesh Vaishnav/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Cairn Gas Purchase Bid Bobby, After meeting with Cairn today in Delhi, my perception is that our offer was received well. They were more open and relaxed then they were on Wed. morning and made several encouraging comments about our price range, (once we talked through the price movements), and the seriousness of our gas related activities on the West Coast of India, in light of the IOC agreement. I think the overall package is attractive to them and no serious objections were raised. We did talk to some extent about the guarantees, but we didn't get too far and they're willing to accept at this point that what's acceptable to the LNG suppliers, should be suitable for their needs. However, they would like to understand the corporate structure and assets of Enron Energy Marketing a little better and I told them I would get back to them on that point. David and Ajay were up in Hazira yesterday looking at some property for their gas treatment facility, which apparently is across the road from pipeline access. While there they went and looked at Shell's proposed LNG site after walking the last 1 km, inaccessible to their 4wd vehicle and not surprisingly found a beach. In summary, here is what we offered on a non-binding basis: Six year production plateau 85% TOP $3.67/MMBtu Net, at a base of $18/bbl Brent, with point of sale at the tail-end of the gas processing plant Floor & Cap of $15.50 - $27.00/bbl Price movement: +/- $1.00/ bbl from the $18/bbl base price (on a 3 mo. rolling average) equals +/- $0.145/MMBtu fixed on a quarterly basis Guarantees: Same protection we're providing the LNG suppliers under the Trust Retention Account I appreciate everyone's help in submitting this offer. Thanks, Doug
Mark, note the feedback from the AA's, it is imperative that we get a handle on this! Let me know when I can spring our plan on Jeff. Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 07/26/2000 03:37 PM --------------------------- Jere C Overdyke 07/26/2000 03:26 PM To: David W Delainey/HOU/ECT@ECT cc: Subject: ENA Analysts and Associates Attached is a memo regarding a meeting I had with our associates on July 17, 2000. Additionally, I met with Celeste Roberts on July 21 and held another meeting with the Associates on same date. The planned dinners with the associates as well as the proactive approach ENA is taking with them is the correct course of action. Jere ---------------------- Forwarded by Jere C Overdyke/HOU/ECT on 07/26/2000 03:06 PM --------------------------- Jere C Overdyke 07/17/2000 02:53 PM To: Ted C Bland/HOU/ECT@ECT cc: Subject: ENA Analysts and Associates I met with 7 associates and 1 analyst over lunch to discuss the Analyst and Associate Program. The major concern expressed by everyone in the meeting was that the program has become a bureaucracy vs a meritocracy. According to the Associates, the program has become inflexible on any issue and the only feedback they receive is "go talk to Skilling if you don't like the answers". Another major concern was compensation. After listening to the comments, my conclusion is that there are some problems that need to be addressed. Specific recommendations by this small group include (1) reduce amount of time in program before promotion to manager from 18 months to 12 months, (2) increase Associates involvement in rotation decisions, (3) explanations of why the program is structured in a certain way without defensive comments of "go talk to Skilling", (4) generally, more of an open market approach so that we are using a "carrot vs stick" method to motivate behavior. Let me know about the next meeting to discuss. Jere ---------------------- Forwarded by Jere C Overdyke/HOU/ECT on 07/17/2000 02:23 PM --------------------------- Enron North America Corp. From: David W Delainey 07/14/2000 08:43 AM Sent by: Kay Chapman To: Sally Beck/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Mike Jakubik/HOU/ECT@ECT, Scott Josey/Corp/Enron@ENRON, John J Lavorato/Corp/Enron@Enron, Rodney Malcolm/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, Rob Milnthorp/CAL/ECT@ECT, Julia Murray/HOU/ECT@ECT, Jere C Overdyke/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, C John Thompson/Corp/Enron@ENRON, Max Yzaguirre/NA/Enron@ENRON, James A Ajello/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Beth Perlman/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron, Jean Mrha/NA/Enron@Enron, Julie A Gomez/HOU/ECT@ECT cc: Patti Thompson/HOU/ECT@ECT, Catherine DuMont/PDX/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Mollie Gustafson/PDX/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Christy Chapman/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT, Stella L Ely/HOU/ECT@ECT, Nicole Mayer/HOU/ECT@ECT, Tonai Lehr/Corp/Enron@ENRON, Kimberly Hillis/HOU/ECT@ect, Ana Alcantara/HOU/ECT@ECT, Yolanda Ford/HOU/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Donna Baker/HOU/ECT@ECT, Rhonna Palmer/HOU/ECT@ECT, Felicia Doan/HOU/ECT@ECT, Barbara Lewis/HOU/ECT@ECT, Pilar Cerezo/NA/Enron@ENRON, Terrellyn Parker/HOU/ECT@ECT, Dusty Warren Paez/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Nicki Daw/NA/Enron@Enron, Cherylene R Westbrook/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT, Lillian Carroll/HOU/ECT@ECT, Venita Coleman/Corp/Enron@Enron, Melissa Jones/NA/Enron@ENRON Subject: ENA Analysts and Associates As you know the ENA OTC is actively working with the Analyst and Associate Program to develop greater talent flow into ENA. We are presently working on a number of initiatives to improve how this is working and significantly improve communication flow and responsiveness. However in this regard we also need you to help make sure we have clear lines of communication within ENA regarding A&A resource levels, performance, rotations and retention efforts. In this regard we would like for each of you to take the lead for your groups needs and ensure that any requests, questions or concerns about A&A's in your area are passed through you to either Ted Bland (ENA Recuitment Team Lead - x35275) or Jana Giovannani (ENA liaison from the AA Program - x39233) or myself. It is important that we are discerning about what we do with our A&A resources and plan carefully and accurately for our future needs, in this regard we need for you personally (or a senior member of your team who you may optionally delegate this task to) will take the time to review any A&A resource requests from your team before passing them onto us. In addition, given the importance of these resources, we will be inviting you to a regular bi-monthly meeting to discuss ENA A&A matters. We will confirm the first date in due course. In the meantime if you would like to volunteer another senior member of your team to assume this reponsibility please supply their name as soon as possible. Please call with any questions.
Steve: I thought you might be interested. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) [email protected] ----- Forwarded by Sara Shackleton/HOU/ECT on 02/26/2001 09:28 AM ----- [email protected] 02/25/2001 10:32 PM 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] cc: Subject: Fwd: Fw: Danny Greenfield's Film - "Allerd Fishbein's In Love" Folks - this film was made by the nephew of a friend of mine and it's especially cute if you're jewish (and each of you is!), so watch it if you can, enjoy it, and vote. Dave, this is Larry Cooper's nephew. Stan, I don't know what happened earlier but here it is. ??Love to all, ?sam Content-Transfer-Encoding: 7bit Return-Path: <[email protected]> Received: from rly-yg03.mx.aol.com (rly-yg03.mail.aol.com [172.18.147.3]) by air-yg01.mail.aol.com (v77_r1.21) with ESMTP; Fri, 23 Feb 2001 07:38:55 -0500 Received: from johnson.mail.mindspring.net (johnson.mail.mindspring.net [207.69.200.177]) by rly-yg03.mx.aol.com (v77_r1.21) with ESMTP; Fri, 23 Feb 2001 07:38:31 -0500 Received: from ms217432 (user-38lcpmh.dialup.mindspring.com [209.86.102.209]) by johnson.mail.mindspring.net (8.9.3/8.8.5) with SMTP id HAA21430; Fri, 23 Feb 2001 07:38:22 -0500 (EST) Message-ID: <001c01c09db8$84b56e80$d16656d1@ms217432> From: "colleen" <[email protected]> To: "Deedra Hughes" <[email protected]> Cc: "felicia morris" <[email protected]>, <[email protected]>, "kelly sugden" <[email protected]>, "pam hendrix" <[email protected]>, "mary shea" <[email protected]>, "rhyno stinch" <[email protected]>, "pat sugden" <[email protected]>, "paula cardinale" <[email protected]>, <[email protected]>, "edschwartz" <[email protected]>, "sam chawkin" <[email protected]>, "robin boyar" <[email protected]> Subject: Fw: Danny Greenfield's Film - "Allerd Fishbein's In Love" Date: Fri, 23 Feb 2001 08:48:56 -0800 MIME-Version: 1.0 Content-Type: text/plain; charset="iso-8859-1" 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 Hi, Larry's nephew wrote directed and produced this film. Pleasen take a minute of your time to either view it or just vote for him. One day he will end up at the Academy awards. I have seen the film about 10 times and it is great. Yhank You so much for you kindness. ----- Original Message ----- From: <[email protected]> To: <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]> Sent: Thursday, February 22, 2001 6:42 PM Subject: Danny Greenfield's Film - "Allerd Fishbein's In Love" > Dear Friends and Family, > > Normally I reserve these sorts of mass e-mails for politics and general calls > to action designed to serve the greater good. > > Today, I write to you out of naked self-interest. > > My NYU thesis film, "Allerd Fishbein's In Love" is a finalist in the Yahoo! > Internet Life Online Film Festival. And it needs your help. > > There are only twelve films left in competition in my category (live action > short), and half of them will go on to a prestigious screening at The > Director's Guild of America in Los Angeles. This just might enable me to get > my first feature film off of the ground, or at the very least, to move out of > my parent's house. > > Now you're probably asking yourself: "How can I help?" Well, I'll tell you. > > First, click here: > <A HREF=" http://movies.yahoo.com/onlinefilmfest/live_action.html "> > Or AOL users click here </A> > Or just type this address into your handy web browser: > http://movies.yahoo.com/onlinefilmfest/live_action.html > > Next, scroll down and watch my little film, "Allerd Fishbein's In Love," a > comedy about lack of coordination, nausea and bar-mitzvahs. It's a > rollicking good time at only twenty minutes and stars John Daley of "Freaks > and Geeks" and "Boston Public" fame. > > Finally, cast your vote for my film. On the off chance that you didn't > thoroughly enjoy the film, bribes can be arranged. > > Now, for those of you on a tight schedule (or with a slow internet > connection), it has come to my attention that it may not be necessary to > watch the film in it's entirety in order to vote successfully. If you fall > into this category, you can still vote by making a token attempt to watch the > film and then executing your vote. > > It has also come to my attention that contrary to what is posted on the web > site, it may be possible to vote more than once. > > Now, you may be saying: "Wait, that's too easy, how can I do more." Well, > I'll tell you. You can forward this e-mail on to anyone and everyone that > you already know or are planning on getting to know, and ask them to do the > same. > > And that's it. Pretty easy. And I'm on my way into my own pad, and you're > on your way to eternal gratitude. > > Thank you for your time. And please don't hesitate to contact me with > questions, compliments, or even complaints. > > > Danny Greenfield > [email protected]
another puzzle piece ---------------------- Forwarded by Kay Mann/Corp/Enron on 06/01/2001 03:52 PM --------------------------- From: Mark E Haedicke@ECT on 02/21/2001 03:17 PM Sent by: Janette Elbertson@ECT To: Alan Aronowitz/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sandi M Braband/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Teresa G Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Nancy Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ned E Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eddy Daniels/NA/Enron@Enron, Angela Davis/NA/Enron@Enron, Peter del Vecchio/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Andrew Edison/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Chris Gaffney/TOR/ECT@ECT, Robert H George/NA/Enron@Enron, Barbara N Gray/HOU/ECT@ECT, James Grace/Corp/Enron@ENRON, Mark Greenberg/NA/Enron@ENRON, Wayne Gresham/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Karen E Jones/HOU/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Alan Larsen/PDX/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay Mann/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron, Gerald Nemec/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Limor Nissan/NYC/MGUSA@MGUSA, John Novak/SA/Enron@Enron, Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angeline Poon/SIN/ECT@ECT, David Portz/HOU/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Coralina Rivera/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael A Robison/HOU/ECT@ECT, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lance Schuler-Legal/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Carlos Sole/NA/Enron@Enron, Lou Stoler/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van Hooser/HOU/ECT@ECT, John Viverito/Corp/Enron@Enron, Ann Elizabeth White/HOU/ECT@ECT, Randy Young/NA/Enron@Enron, Stuart Zisman/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Kimberlee A Bennick/HOU/ECT@ECT, Martha Braddy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sarah Bruck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Genia FitzGerald/HOU/ECT@ECT, Nony Flores/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT, Ed B Hearn III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Deb Korkmas/HOU/ECT@ECT, Laurie Mayer/HOU/ECT@ECT, Matt Maxwell/Corp/Enron@ENRON, Mary Ogden/HOU/ECT@ECT, Debra Perlingiere/HOU/ECT@ECT, Larry Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert Walker/HOU/ECT@ECT, Kay Young/HOU/ECT@ECT, Merrill W Haas/HOU/ECT@ECT, Andrea Calo/SA/Enron@Enron, Brent Hendry/NA/Enron@Enron, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Greg Johnston/CAL/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Justin Boyd/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Mark Elliott/LON/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Denis O'Connell/LON/ECT@ECT, Robert Quick/LON/ECT@ECT, Paul Simons/LON/ECT@ECT, Martin Rosell/OSL/ECT@ECT, Rahul Saxena/LON/ECT@ECT, Greg Johnston/CAL/ECT@ECT, Mark Powell/CAL/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, Suzanne Adams/HOU/ECT@ECT, Connie Castillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sheri L Cromwell/HOU/ECT@ECT, Margaret Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janette Elbertson/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan M King/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Pat Radford/HOU/ECT@ECT, Becky Spencer/HOU/ECT@ECT, Linda J Simmons/HOU/ECT@ECT, Dina Snow/Corp/Enron@Enron, Twanda Sweet/HOU/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT, Yo Yamanishi/AP/Enron@Enron, Claudia Meraz/HOU/ECT@ECT, Reginald Shanks/HOU/ECT@ECT, Wendi Hoelscher/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, MaryHelen Martinez/NA/Enron@Enron, Sami Arap/SA/Enron@Enron, Luiz Watanabe/SA/Enron@Enron, Andrea Calo/SA/Enron@Enron, Patricia Dutra/SA/Enron@Enron, Karla Azevedo/SA/Enron@Enron, Nancy Muchmore/NA/Enron@Enron, Sandra Vassel/SA/Enron@Enron, Miguel Mendoza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Fabian Valle/SA/Enron@Enron, Paula Porto/SA/Enron@Enron, Celina Ozorio/SA/Enron@Enron, Maria Pia Beccaccini/SA/Enron@Enron cc: Subject: Organizational Announcement We are pleased to announce organizational changes to the Enron South America legal department in response to the recent reorganization and realignment of the principal Enron Wholesale Services business units operating in the region, Enron Americas and Enron Global Assets. Randy Young, currently General Counsel of ESA, will be assuming new responsibilities within Enron. John Novak will become General Counsel of ESA, reporting to Mark Haedicke. The ESA legal department will be responsible for supporting all Enron Americas and Enron Global Assets businesses in the region. Additional legal resources, coordinated by Lance Schuler, will be provided from EWS Legal in Houston to support ESA's wholesale activities. John will also work closely with Bruce Lundstrom, General Counsel of EGA, to coordinate legal support with respect to the EGA businesses in the region. An organizational chart describing the new structure is attached. This new structure will enable us to continue to provide quality legal support across business lines within South America while improving coordination and providing additional support from Houston for Enron's existing operating businesses, as well as the new business development initiatives under way in the region.
Business/Financial Desk; Section C Enron Tries To Dismiss Finance Doubts By FLOYD NORRIS 10/24/2001 The New York Times Page 1, Column 5 c. 2001 New York Times Company Enron 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, 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. 713-853-9287 888-703-0309
Two things: 1. I called Smutney last week re this press conference and declined. I said that the idea is fine and we support it, but Enron does not want to participate in a press conference with other generators on this topic. 2. I just talked to Rob Lamkin of Southern who indicated that ten companies have gotten letters from Gov Davis addressed to "Dear CEO of Energy Company." Letter was to invite these companies to attend a meeting on Monday, December 1 in LA. Agenda and issues to follow, but Rob thought it had to do with the Gov's plan for CA due 12/1. Meeting will not be with Davis, but with his staff. Southern is deciding who to send. Reliant will send John Stout and Curtis Keebler. Williams got a letter, but no info re their rep. Rob was calling to see if we got a letter and, if we did, out thoughts re meeting before the Gov's meeting to discuss. I said we could have gotten a letter, but I did not know. ----- Forwarded by David Parquet/SF/ECT on 11/21/2000 04:38 PM ----- "Katie Kaplan" <[email protected]> 11/21/2000 04:07 PM Please respond to kaplan To: <[email protected]>, <[email protected]>, "'John Stout for Reliant'" <[email protected]>, "'Curtis Keebler at Reliant'" <[email protected]>, "'Julie @ Edson'" <[email protected]>, "'Paula Hall-Collins'" <[email protected]>, "'Marty Wilson'" <[email protected]>, "'Rob Lamkin'" <[email protected]>, "Karen Edson" <[email protected]>, "Bob Weisenmiller" <[email protected]>, "Sue Mara" <[email protected]>, "Andy Brown" <[email protected]>, "B Brown Andy" <[email protected]>, "Bob Escalante" <[email protected]>, "Greg Blue" <[email protected]>, "Jack Pigott" <[email protected]>, "Jan Smutny-Jones" <[email protected]>, "Joe Ronan" <[email protected]>, "Karen Denne" <[email protected]>, "Karen Edson" <[email protected]>, "Kassandra Gough" <[email protected]>, "Kristin Vellandi" <[email protected]>, "Lynn Lednicky" <[email protected]>, "McNally Ray" <[email protected]>, "Paula Hall-Collins" <[email protected]>, "Richard Hyde" <[email protected]>, "Rob L. Lamkin" <[email protected]>, "Stephanie-Newell" <[email protected]>, "Tom Ross" <[email protected]>, "William Hall" <[email protected]>, "Trond Aschehoug" <[email protected]>, "Tony Wetzel" <[email protected]>, "Susan J Mara" <[email protected]>, "Steve Ponder" <[email protected]>, "Steve Iliff" <[email protected]>, "Scott Noll" <[email protected]>, "Roger Pelote" <[email protected]>, "Rob Lamkin" <[email protected]>, "Randy Hickok" <[email protected]>, "Paula Soos" <[email protected]>, "Marty McFadden" <[email protected]>, "Lynn Lednicky" <[email protected]>, "Kent Fickett" <[email protected]>, "Ken Hoffman" <[email protected]>, "Jonathan Weisgall" <[email protected]>, "Joe Ronan" <[email protected]>, "Joe Greco" <[email protected]>, "Jim Willey" <[email protected]>, "Jeff Dasovich" <[email protected]>, "Jack Pigott" <[email protected]>, "Hap Boyd" <[email protected]>, "Greg Blue" <[email protected]>, "Frank DeRosa" <[email protected]>, "Eileen Koch" <[email protected]>, "Ed Tomeo" <[email protected]>, "Duane Nelsen" <[email protected]>, "Dean Gosselin" <[email protected]>, "Dave Parquet" <[email protected]>, "Curtis Kebler" <[email protected]>, "Curt Hatton" <[email protected]>, "Cody Carter" <[email protected]>, "Carolyn Baker" <[email protected]>, "Bob Escalante" <[email protected]>, "Bill Woods" <[email protected]>, "Bill Carlson" <[email protected]>, "Eric Eisenman" <[email protected]> cc: "Jan Smutny-Jones" <[email protected]>, "Steven Kelly" <[email protected]>, "Susan McCabe" <[email protected]>, "Scott Govenar" <[email protected]>, "Ron Tom" <[email protected]>, "Robert Ross" <[email protected]>, "Phil Isenberg" <[email protected]>, "Mike Monagan" <[email protected]>, "Maureen OHaren" <[email protected]>, "Marie Moretti" <[email protected]>, "Kassandra Gough" <[email protected]>, "Hedy Govenar" <[email protected]>, "Delany Hunter" <[email protected]>, "Bev Hansen" <[email protected]>, "Anne Kelly" <[email protected]>, "Jenn Paulsen" <[email protected]>, "Jamie Parker" <[email protected]> Subject: Press Conference Greetings: IEP will be holding a press conference on Tuesday November 28 at 10:30 a.m. in the Governors Press room to discuss the importance of long-term fixed (that term is easier to understand than bilateral) contracts. IEP will be stressing the importance of the contracts as part of the solution for next summer. Several IEP members have offered (and have continued to offer) long-term fixed contracts at terms under the current retail rate freeze. We will indicate that the utilities have been hesitant to enter into these contracts due to the uncertain nature of the CPUC. We will point out that several different independent entities have agreed that long-term contracts are one of the key solutions and that the PUC should act immediately to set a benchmark and in so doing eliminate the reasonableness review that is the main barrier for IOU's not entering into large long-term fixed contracts. IEP is also currently working to include other market participants in the Press Conference. We would like as many IEP participants as possible at the conference to show that there are several companies who continue to be serious about long-term fixed price contracts. We have already received a couple of responses and if you are interested please let me know ASAP-no later than noon Wednesday- as we are sending out an advisory on Monday. Thank you for your attention to this matter. Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499
FYI, please let me know if you have any questions. Regards, Elizabeth. Elizabeth Serralheiro 15/10/99 14:06 To: John Novak/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert H George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, George Frumkin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected], Sami Arap/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Andrea Gavino/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gisele S Braz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ana Cristina Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mary Ann Oliveira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cecilia Morellato/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan Cooley/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: ESA LEGAL MANAGEMENT COMMITTEE MEETING - formerly Chief Counsel Meeting As per Randy Young's message below, please plan to attend to this weekly meeting that will be held every Tuesdays at 10:00 a.m. Brazil time/7:00 a.m. Houston time. The call-in numbers are as follow: Domestic dial-in (US callers): (800) 649-2862 International dial-in: (847) 413-3751 Confirmation#: 1082521 Host: Randy Young Please send me an updated report every Monday , until 5:00 p.m. and you can still use the same table that you have being using for the formerly Chief Cousenl Meeting. Thanks and regards, Elizabeth Serralheiro. (5511) 5503-1268 ---------------------- Forwarded by Elizabeth Serralheiro/ENRON_DEVELOPMENT on 15/10/99 16:43 --------------------------- Randy Young 15/10/99 16:13 To: Sara Shackleton/HOU/ECT@ECT cc: Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth Serralheiro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: S. Cone Trading Issues-Request Many thanks, Sara. I appreciate your including Andrea in these calls, and I am sure she will try to attend as many with you as schedule allows. In the meantime, the download once a week will certainly be helpful to me. Sounds like a great vacation. I am jealous. Beth, could you send Sara the call-in number and times for my weekly legal management committee meeting? Regards, Randy Sara Shackleton@ECT 10/15/99 01:42 PM To: Randy Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: S. Cone Trading Issues-Request Randy, I can certainly participate in your Tuesday morning meetings (and I can appreciate the time constraints under which Andrea is working!). I believe that Lynn will defer to Rick's participation. Please let me know if there is a call in number. I think that I will be able to keep you updated through your meetings. My need for meeting with Lynn and Brent stems from the fact that we are "offshore" Brazil and need to communicate regularly to keep the fires burning. Have a great weekend! I just got back from my vacation - I went to L.A. - and the weather was extraordinary. So was the food. I'm looking forward to Sao Paulo. Will see you soon. Sara Randy Young@ENRON_DEVELOPMENT 10/13/99 06:59 AM To: Sara Shackleton@ENRON_DEVELOPMENT cc: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert H George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: S. Cone Trading Issues-Request Sara, Given the deal pressure we expect in the last quarter of 99,especially in origination, I am trying to eliminate as many duplicative meetings as possible. Instead of having Andrea Bertone attend this weekly meeting, could you and Lynn Aven attend my legal staff meeting (along with Brent Hendry and Rick Hopkinson, who are already scheduled to attend) each week? They are held on Tuesdays at 10:00 am SP time. That way, we can get a direct report from you with a synthesized summary of the issues. If you need to consult with Andrea, Robert or me on an offline basis, you can let us know in the meeting, and we will arrange a separate call. I believe this would be more efficient. Thanks, and please let me know, Regards, Randy ---------------------- Forwarded by Randy Young/ENRON_DEVELOPMENT on 10/13/99 09:33 AM --------------------------- Andrea Bertone 10/13/99 08:33 AM To: Randy Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: S. Cone Trading Issues OK. I'll do it. Randy Young 10/12/99 02:17 PM To: Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: S. Cone Trading Issues Can you try to make this? Hopefully, it will not take up much time. I would want to get a summary download of issues from you in our weekly meetings. Thanks, ry ---------------------- Forwarded by Randy Young/ENRON_DEVELOPMENT on 10/12/99 02:17 PM --------------------------- Sara Shackleton@ECT 10/12/99 12:09 PM To: Lynn Aven/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Mark E Taylor/HOU/ECT@ECT, Randy Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: S. Cone Trading Issues In an effort to establish regular communication on the progress of trading issues (primarily related legal and tax perspectives) in the S. Cone, Lynn and I have agreed to conference on Friday, October 15 at 9 am (Houston time) and weekly at that time. Would anyone else like to participate this Friday? If you are interested in participating on a weekly basis, are Fridays at 9 am (Houston time) convenient for you? My immediate concerns are financial trading issues. However, we can focus on all relevant issues as we so determine. I will create a "short list" to initiate discussion. Thanks. Sara
BUSINESS HIGHLIGHTS East Power Midwest Origination Beginning late 2000, East Power Marketing implemented a complete market coverage strategy. Since then, EPMI has begun to develop relationships with hundreds of small &mom & pop8 municipalities. Many of these munis had no prior contact with Enron. As a result, East Power has executed a valuable 30 MW energy call option term purchase from the Municipal Energy Agency of Nebraska (MEAN) at a congested location. Enron Industrial Markets EIM has renamed Pulp, Paper & Lumber to Forest Products in order to fully encompass our multiple product offerings. East Power Development The Planning and Zoning Commission for Pompano Beach, FL approved ENA's rezoning request and site plan for the Pompano Beach Energy Center, a 510 megawatt peaking power plant. On the rezoning request, the vote was 6 to 1, and on the site plan, the vote was 7 to 0. The rezoning request will be forwarded to the Pompano Beach City Commission for their review. Additionally, the Florida Department of Environmental Protection (DEP) has announced its intention to issue an air permit for the facility. Next steps include a DEP public hearing on Monday, March 26, and the first of two votes on the rezoning request before the Pompano Beach City Commission, which is scheduled for Tuesday, March 27. IN THE NEWS EWS Brown Bag Lunch Mark Your Lunch Calendars Now! The next one is scheduled for Thursday, March 15, 2001 featuring Ray Bowen. He is the COO of EIM and will be discussing Enron Industrial Markets. Open Forum Editorial in The San Francisco Chronicle by Kenneth Lay 3/1/01 What has happened in California over the past four years is not deregulation. It is misguided regulation. Deregulation does not mean eliminating customer choice and competition for most customers. Deregulation does not mean limiting new market entrants. Fewer than five percent of customers in California are served by competing suppliers. Deregulation does not mean creating a single central power pool from which all participants must buy and sell their wholesale power; the state Power Exchange effectively replaced three monopoly buyers with one monopoly buyer. Deregulation does not mean buying all of your commodity at the last minute, on the spot market, rather than planning ahead and purchasing most of the power under long-term contracts that lock in prices. The situation in California is the result of continued regulation, complicated by a series of natural and man-made factors. WELCOME New Hires EGM - Lowell Bezanis, Owen Zidar EIM - Eric Holzer, John Ovanessian ENA - Mecole Brown, Nita Garcia, Ambroshia Hunter, Nikole Jackson, Junichi Sugiura, Theresa Zucha, Cynthia Gonzalez, Scott Wilson, Kenton Schaefer, Emily Butler Transfers ENA - Joseph Hardy, Nancy Vu, Lloyd Miller, Jinsung Myung, Patrick Johnson, Jason Wolfe, Andrew Miles, Sara Shackleton EIM - Sherri Baldwin, Debbie Chance, Rob Saltiel EGM - Jody Crook, Neithard Foley, Juan Paysse, Bhavna Pandya, Courtney Campbell, Terri Denning NUGGETS & NOTES "It is on the high side of medium to high." --Tim Battaglia, Vice President/Steel Origination EIM (discussing the probability of a transaction closing). &I wanna see the phone glued to your ear!8 -- Ed Baughman, Vice President/East Power Mid Market ENA &REFERRALS, REFERRALS, REFERRALS! It pays to know good people." ) Ambroshia Hunter Perry/HR ENA You requested more info(. Proud parents Michelle Vitrella, PR coordinator, and husband David Vitrella, manager of trading, have named their baby girl Lily Ann. She was born on February 27, 2001. Learning at the Speed of Enron If you haven't had a chance to log on to www.investinme.enron.com, you're missing a fast and easy way to gain the information you need to get ahead and stay ahead. This new EWS training site combines everything you loved about Ernie with much, much more. Enron employees now have the ability to register for hundreds of classes on industry-related topics anywhere in the world. Don't have time to attend a classroom training? No problem, you can now use the web site to search for books, videos, CD ROM, and web-based training. All the learning you want, anytime, anywhere. Just go to www.investinme.enron.com and start building your future today! NEWS FROM THE GLOBAL FLASH Enron Wind Enron Wind has purchased the factory facilities of the Dutch company, Aerpac, Europe's second largest producer of wind turbine rotor blades. This move represents a significant step towards fulfilling Enron Wind's strategic objective of manufacturing high-quality and technically sophisticated rotor blades in-house. Enron Wind will be using its own moulds to produce the rotor blades. The acquisition of the Almelo-based factory facilities, which are only 60 kilometres from Enron Wind's facilities in Salzbergen, Germany, gives the company a convenient base for European wide distribution. Enron applies for Greek electricity trading license Enron, through its subsidiary Enron Power MEPE, has applied for an electricity supply license for Greece, for the 34% market opening on Feb 19th 2001. If the license application is successful, Enron will be allowed to approach customers consuming more than 100GWh up to a combined total peak capacity of 350MW. In total, 4 companies have applied for power trading licenses (Enel, ATEL and Cinergy also applied). 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.
* Quick read in red * Thanks, Tasha, for lead! Failure to Buy Entire Network May Doom Davis' Power Deal By MIGUEL BUSTILLO and NANCY VOGEL, Times Staff Writers SACRAMENTO--Does it make sense for California to own only part of the state's power grid? That question is dividing state legislators and energy experts after Gov. Gray Davis' announcement of a $2.76-billion deal to buy Southern California Edison's transmission lines. The deal was reached Monday, three days after Pacific Gas & Electric Co. balked at selling its power lines to the state and filed for bankruptcy. Davis and Democratic legislators have pushed to purchase the whole transmission system owned by the state's debt-saddled private utilities. They reason that by owning the highway that electricity must travel to reach homes and businesses--a 32,000-mile web of wire that is the world's fifth-largest coordinated power grid--the state would gain a negotiating advantage with the companies that produce the power. If California's transmission grid were entirely owned by the public, political leaders believe, the state could gain jurisdiction over key electricity issues now decided by the Federal Energy Regulatory Commission, which has been reluctant to intervene in the energy crisis. The state, not the commission, could then set its own transmission fees and control the flow of electricity across the grid. Transmission charges bring in roughly $1.4 billion a year for the three utilities. With that money, the state could not only repay itself for the purchase of the power lines but also fund system upgrades to unclog electricity bottlenecks that contribute to blackouts. "Owning the wires is a business, and this business operates at a profit," said Assemblyman Roderick Wright (D-Los Angeles), who will head a series of committee hearings on the plan to buy the Edison lines. "We're not going into their yards and buying old trucks or something; we are buying a vital piece of their electrical system." However, now that Pacific Gas & Electric has opted to try to find a solution to its debt problem in Bankruptcy Court rather than continue negotiations with the state, the prospects of California acquiring the entire system appear uncertain at best. That is generating concern about what California is getting for its money--and whether the state stands a chance of gaining any independence from federal regulators--if it buys only the lines of Edison and San Diego Gas & Electric. The Edison deal, which needs legislative approval, is unlikely to garner a single vote from Republicans--Assembly Republican leader Dave Cox (R-Fair Oaks) calls the grid purchase a socialistic idea. The plan may also encounter some Democratic opposition. "It was a tough sell to begin with, and I think if you are going to only buy part, it becomes a tougher sell," said Assemblyman Dean Florez (D-Shafter). And some utility experts say California gains little, if anything, unless it acquires the whole system. "The motivating factor for buying the grid, as opposed to hydroelectric power plants, is because it addressed the central problem facing California: The federal government is unwilling to crack down on the generators that are ripping us off, and we need to take back control," said UC Irvine professor Peter Navarro. "If you only buy 40% of the system, you might as well have nothing." California would not be able to make some of the most critical upgrades needed to improve the flow of electricity if it did not acquire PG&E's portion of the system. The worst energy bottleneck in California is the notorious Path 15, a series of high-voltage lines that move power between Southern and Northern California. Path 15 lies largely in PG&E's territory. Davis and some state legislators say California still has a chance to buy the entire grid. Some, in fact, believe that the utility's bankruptcy increases the likelihood of a deal: Talks between Davis and PG&E had faltered in recent weeks, and a judge may have better luck bridging their differences. Negotiations between the state and San Diego Gas & Electric continue, leaving the possibility of a deal with that utility. But acquiring PG&E's portion, the largest and most important by far, now requires the approval of a federal Bankruptcy Court judge. And in that arena, the state may have to compete with private companies for the lines. Trans-Elect, a Washington company that wants to create a national network of independently owned transmission lines, has offered to buy and operate the grids of Edison and PG&E for a total of $5.25 billion. The company has also been in contact with the Davis administration on the possibility of leasing the lines from California if they are bought by the state. For the state to buy any of the systems, it needs approval from FERC--far from a sure thing. The commission in recent years has encouraged states to put management of large sections of the nation's transmission grid into private hands to achieve more efficient electricity flow. Even if the commission approved the purchase, the state may not receive any increased powers. "FERC would like to see one large regional transmission system in the West," said David Clement, a transmission expert with Cambridge Energy Research Associates. "If FERC were to unconditionally approve the sale, then the transmission system owned by Edison would leave FERC authority. However, FERC could easily condition the sale such that the transmission grid remains under their authority." Copyright 2001 Los Angeles Times
Thanks for your reply, Dee! From: Dee Svatos/ENRON@enronXgate on 04/12/2001 02:05 PM To: Stanley Horton/Corp/Enron@Enron cc: Subject: RE: NBP Underwriting Group Cindy: Jerry said that Stan has reviewed this information, and is comfortable with it, so there is no need to contact him for a response. Thanks, Cindy. Dee -----Original Message----- From: Stark, Cindy On Behalf Of Horton, Stanley Sent: Thursday, April 12, 2001 1:06 PM To: Peters, Jerry Subject: Re: NBP Underwriting Group Importance: High Jerry: Stan is in California at the KEYEX meeting today and tomorrow. What do you suggest? Cindy From: Jerry Peters/ENRON@enronXgate on 04/12/2001 11:39 AM To: Stanley Horton/Corp/Enron@Enron, Ben Glisan/HOU/ECT@ECT, Kelly H Boots/HOU/ECT@ECT, Mark Koenig/Corp/Enron@ENRON cc: Rod Hayslett/ENRON@enronXgate, Bill Cordes/ENRON@enronXgate Subject: NBP Underwriting Group Attached is a short memo on our selection rationale for the underwriting group for a planned (mid-May) equity offering of about $130 - $150 million for Northern Border Partners. Some of these firms may be contacting you, so this should be helpful in fielding those calls. With this group we are attempting to balance our placement into firms that have substantial NBP holdings (UBS Warburg, AGE) and diversify and expand holdings in other major systems (SSB, Banc of America, First Union). Please note that for the firms not selected, i.e. Lehman, Goldman and Merrill, part of our rationale was to hold these systems for a potential offering later in 2001 that could be accomplished on a sole-managed basis for up to about $50 million. Kelly: As Ben requested, the underwriting fees are expected to be about 4.25% and the breakdown by firm will be provided when we have determined the allocations. Let me know ASAP if you have any questions or concerns as we will begin discussions with these firms tomorrow. -----Original Message----- From: Jesse, John Sent: Thursday, April 12, 2001 8:03 AM To: Peters, Jerry Subject: NBP Underwriting Group Importance: High The following provides the rationale supporting the recommended underwriter group for Northern Border Partner,s upcoming equity offering. Please note that underlying the entire selection process is the fact that MLP units are a specialized product sold to a more limited group of investors vis-.-vis common stock. Thus, sheer underwriting bulk or equity league table position of a given firm does not necessarily indicate the expected performance of such firm in an NBP offering. Lead Manager - Salomon Smith Barney SSB controls an impressive retail distribution system that has a strong appetite of MLP offerings. The visibility of NBP within their system has increased recently as their MLP analyst has raised his rating on NBP to "Outperform". SSB has served as a co-manager in past NBP offerings and has performed well. Furthermore, due to their comparatively small allocations in these deals as a co-manager, we are confident that their system has significant untapped demand for NBP units. Joint Lead Manager - UBS Warburg (f/k/a PaineWebber) UBS has served a lead manager for the last two NBP offerings that were conducted via the rapid placement (limited marketing) process, so they are very familiar with NBP and provide very good analyst coverage. While we are still confident that UBS will perform well and place a large number of units, their allocations as lead manager in our past deals probably soaked up a great deal of demand for NBP units within their system. Therefore, rather than placing UBS in a situation where they would have to stretch to put away a lead manager allocation, it was deemed prudent to slot them in the joint lead role. Co-Managers Dain Rauscher and A.G. Edwards Both firms have a strong mid-market presence and have demonstrated their ability to place a significant number of NBP units in past offerings. These firms have not participated in an NBP deal since 1997, so this offering should generate strong demand. Also, Dain Rauscher was recently acquired by Royal Bank of Canada, which provides commercial bank lending to NBP and NBPL, so NBP will be able to leverage DR,s participation in future debt transactions. Bank of America and First Union Bank of America has been a significant provider of commercial banking services to NBP and NBPL over many years, while First Union recently became an NBP lender in the March 2001 transaction. Both have retail distribution systems available which currently hold a limited number of NBP units. Both have participated in past MLP offerings, with Bank of America serving as a joint lead for highly successful Williams MLP IPO. Other institutions considered but not selected Goldman Sachs & Lehman Brothers - Both firms support the MLP product reasonably well and have demonstrated adequate coverage of NBP. Their systems are geared towards institutional sales and high net-worth clients, so their breadth of distribution for MLP units is more limited as compared to SSB or UBS. Merrill Lynch - Historically, this firm has not supported the MLP product despite its natural appeal to Merrill,s average customer. Admittedly, their new analyst has taken a more positive approach, but Merrill has not participated in any meaningful way in several of the recent MLP offerings. MSDW - NBP receives no coverage on the investment banking side and their analyst has a &Hold8 rating on the units.
Here is the information regarding the presentation done by AGENCY.COM. The BEA Users Conference is being held in San Francisco, CA 2/21-2/24. The conference has over 2,000 registered users representing many types of companies. About the Session and Presentation On Wednesday, February 23 at 11:00 an hour long session was to open to any registered conference attendee. Around 200 (very rough guess) people attended the session. The session was moderated by Scott Dietzen, CTO BEA Server Division and was described as 'Web E-Commerce Solutions: Using Best of Breed Technologies'. The session included 4 panel members from Calico Commerce (an ISV), Idea Integration (an integrator), Cygent (an ISV) and AGENCY.COM. Each of the 4 panel members gave a 12 minute presentation then the session was turned over for general questions and answers. Joe Tatem of AGENCY.COM went last and spoke about the web development marketplace: where it was and where it needed to head. Like the other panel members he described his company and gave a little sales pitch for BEA Weblogic. Tatem then presented a case study as an example of some of their work. This example was of AGENCY.COM's work for Enron on EnronOnline. His case study consisted of 2 slides. The first slide had screen images of EnronOnline: one was the EnronOnline home page and the second was the quotes page populated with some products. The quotes page was 'overlayed' on the home page and obscured the EnronOnline banner on the bottom so that only the 'ne' at the end showed. The Enron logo (the counter-clockwise 45-degree logo was clearly visible. He talked about it being a Trading Extranet site but said he could not name the customer. He described that real time prices for products were being displayed to customers. He then showed the next slide which gave a high level overview of the application architecture for EnronOnline. This slide contains details about real time server (RTServer) and its associated application server (including the RMI communication mechanism). He made a comment about how they were particularly proud of the real time piece and how it was designed and how it worked. This slide also contained a reference to the fact EnronOnline uses Oracle 8i. He also mentioned Jesica as the content management piece and indicated that they were looking at other 3rd party products to replace that in their future projects. This slide also contains a reference to StackManager and he indicated that it was developed by the unamed client and not by AGENCY.COM. He also talked about ShockWave plugin being used in the browser to receive the real time quotes. Only one question was asked from the audience during his showing of the technical architecture slide. This question (paraphrased) was: When you use RMI between the web server and the app server how many connections do you use. He replied (paraphrased): one per thread. The questioner then asked something else that I assumed was a technical detail about how WebLogic RMI worked. Tatem replied incorrectly and a BEA employee responded with the right answer. About the Handouts of the Presentation BEA tried to make available hard copies of all presentation slides in each session. They setup a series of shelves that were numbered for each session. The documents were available starting Monday during the registration process and throughout the conference. On Monday evening I went to pick up hard copies of the sessions for which I was interested. About a third of the handouts for the sessions were not available. I did not notice whether the one for above mentioned presentation was available. (I did not expect it to one of the more interested ones.) During some of the sessions BEA handed out copies to those present. I did not see any handed out during the above mentioned session. After the session was over I called Jay Webb and told him of the above details. After telling Jay I saw Scott Dietzen from BEA in the hallway. (I had met him twice before.) I told Dietzen that the presentation that AGENCY.COM did in his panel was about Enron. (We had already discussed the project with Dietzen when he visited our Houston office.) I told him that AGENCY.COM was not supposed to reveal any information concerning the project. At this time I did not know that hard copies of the presentation were available. I told Dietzen that if they did become available that the portion about EnronOnline should not be distributed. Dietzen said he was not aware of the problem with discussing the project. He apologized and said he would not distribute any handouts if he received them. Sometime later on Wednesday I went to the rack of presentation handouts and there was one available for the above mentioned session. I do not know how long they were available (and I don't think Dietzen did either). There were only 2 or 3 copies left and I took all of them. (BEA usually put out many copies in the rack so I don't know how many were actually picked up.) The hard copies are PowerPoint printouts that include room for notes so the slides are very small making it difficult to read. When the slides were shown on the screen during the session they were very clear. Also, during some of the sessions (not the one where AGENCY.COM presented) I attended there was some question about the availability of the handouts and someone from BEA would answer something about the web. I assumed that at some point in the near future they might be making copies of the presentations available on the BEA web site. I will try to confirm this tomorrow (Thursday). I checked the web site a few minutes ago and the presentations are not there. I will followup with any more details if I remember something else or if there are any further developments. Thanks, Kevin Montagne Voice: 713-853-1903 Cell: 281-703-5779 Pager: 800-893-4390
Thank you very much. Do we know if they intend to apply the guaranty to the account same day or will that take some time? Since the guaranty is on ECI, and we are doing the assignment and assumption is it fair to assume the account might have to renamed/positions transfered to some new account before they will give us relief? Sheila, Are we going to flip out the Morgan account straight to the ECI entity? Will this delay the split? Thanks, Tom 03/28/2001 02:50 PM Cheryl Nelson Cheryl Nelson Cheryl Nelson 03/28/2001 02:50 PM 03/28/2001 02:50 PM Sent by: Cheryl Nelson To: Sara Shackleton/HOU/ECT@ECT cc: Sheila Glover/HOU/ECT@ECT, Tom Doukas/NA/Enron@ENRON Subject: Re: BEAR Guarantee letter Hello Team, I have good news. Clem Abrams approved the guaranty and will have it executed first thing tomorrow. (None of the requisite officers are in today). I am still contacting Bear Stearns every couple of hours to get the final drafts of the agreements in our hands. I'll keep you posted. Cheryl Nelson Senior Counsel EB3816 (713) 345-4693 Sara Shackleton@ECT 03/28/2001 10:21 AM To: Cheryl Nelson/NA/ENRON@ENRON cc: Subject: Re: BEAR Guarantee letter Sheila and Tom need to know the status. Please advise them mid-day. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) [email protected] Cheryl Nelson@ENRON Sent by: Cheryl Nelson@ENRON 03/28/2001 10:04 AM To: Sara Shackleton/HOU/ECT@ECT cc: Sheila Glover/HOU/ECT@ECT Subject: Re: BEAR Guarantee letter Hi Sara and Sheila, By way of update, I was able to get the guaranty to Clem and am working on his getting it back to me by the end of the day. I talked to Bear Stearn's lawyer today about whether we could get the other agreements (account and assignment) executed today and she represented that (1) she is still waiting for her Managing Director's approval of her final draft in order to forward it to me (2) but that she is working with me to check in with the MD every hour or so for a status update. Cheryl Nelson Senior Counsel EB3816 (713) 345-4693 Sara Shackleton@ECT 03/27/2001 06:59 PM To: Sheila Glover/HOU/ECT@ECT cc: Cheryl Nelson/NA/Enron@Enron Subject: Re: BEAR Guarantee letter Wednesday, March 28 is the target execution date for the ECI customer agreement and assignment (from ENA) of the Securities Loan Agreement/credit book. I am not certain if Cheryl was able to expedite delivery of the new ENE guaranty. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) [email protected] Sheila Glover 03/27/2001 02:10 AM To: Tom Doukas/NA/Enron@ENRON, Sara Shackleton/HOU/ECT@ECT cc: Richard Sage/LON/ECT@ECT, Jeff Kinneman/HOU/ECT Subject: Re: BEAR Guarantee letter Tom, The day i received this I responded to Sara and cc'd richard that I was okay with transferring the Stock Loan Agreement from ENA to ECI. The ENA was executed and the ECI piece is what is in process. Sara, Any update? How far are we away from exectution? Do you need anything from anyone? Thanks. Sheila Tom Doukas@ENRON 03/26/2001 11:59 PM To: Sara Shackleton/HOU/ECT@ECT cc: David A Wall/Risk Mgmt/LON/ECT@ECT, Jeff Kinneman/Enron@EnronXGate@ECT, Richard Sage/LON/ECT@ECT, Sheila Glover/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron Subject: Re: BEAR Guarantee letter Just wanted to follow up to see if we have a time frame as to when the letter will be fully executed. Thanks, Tom From: Sara Shackleton@ECT on 03/22/2001 08:41 AM To: Tom Doukas/NA/Enron@ENRON cc: David A Wall/Risk Mgmt/LON/ECT@ECT, Jeff Kinneman/Enron@EnronXGate, Richard Sage/LON/ECT@ECT, Sheila Glover/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron Subject: Re: BEAR Guarantee letter Here's a recap for everyone. Our original negotiation with Bear (for the Securities Loan Agreement) was in the name of ENA, and, ENA had an existing account agreement with Bear. However, Bear insisted that the account agreement was "too old" and that we negotiate a new agreement. I agreed on the condition that this not hold up execution of the Securities Loan Agreement. We have one or two final points remaining on the new account agreement which we'll execute for both ENA and Enron Credit Inc.. ("ECI"). We have the authorized trader list for ECI and are waiting for Richard to designate the new officer/director slate but we are prepared for execution by the existing officers in London. The assignment instrument will be very short for transferring the ECI book from ENA to ECI. It will take only a few days to replace the existing ENE guaranty for the Securities Loan Agreement. Jeff and Sheila: Please verify that both ENA and ECI do not need the Securities Loan Agreement. I believe it is just ECI and we can transfer the existing agreement to ECI. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) [email protected] Tom Doukas@ENRON 03/21/2001 12:28 PM To: Sara Shackleton/HOU/ECT@ECT cc: Jeff Kinneman/Enron@EnronXGate, Sheila Glover/HOU/ECT@ECT, Richard Sage/LON/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT Subject: BEAR Guarantee letter Sara, I just spoke with Russ Miron from Bear Sterans regarding our Guaranty to Reduce funding to 20% per side. I had asked him about when they will be executing the agreement. He said that his lawyers are ready to sign but are under the impression that you have one remaining point to resolve and that this point is holding up the finalization of the agreement. Is there an issue from our side? If not we should be able to get this execution taken care of immediately? Thanks, Tom 713-853-9074
---------------------- Forwarded by Mike Grigsby/HOU/ECT on 04/05/2001 10:05 PM --------------------------- "mike" <[email protected]>@sfgate.com> on 04/05/2001 10:12:00 PM Sent by: <[email protected]> To: "Mike" <[email protected]> cc: Subject: SF Gate: Text of Gov. Gray Davis' energy speech ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/04/05/state2 108EDT0315.DTL ---------------------------------------------------------------------- Thursday, April 5, 2001 (AP) Text of Gov. Gray Davis' energy speech The Associated Press , , -- (04-05) 18:08 PDT Here is the text of Gov. Gray Davis' televised speech on energy Thursday, as prepared for delivery: "Good evening. I'm speaking to you tonight from Sacramento on the most difficult issue facing California: our energy crisis. "Simply stated, we have two problems: supply is too low and costs are too high. Both result from the flawed deregulation scheme created in 1996. But no matter how we got into this mess, you hired me to solve problems. And that's what I'm doing. "The only long-term solution is to build more power plants. We must also cut back on consumption and stabilize the utilities. But prices won't fall and supply won't be truly reliable until we generate more power than we consume. "Yet in the 12 years before I took office, not a single major power plant was built in California. Not one. Since I became governor, we've licensed 12 major power plants. Ten more are in the pipeline. And we're doing this without weakening our commitment to clean air and clean water. "Deregulation required the utilities to sell off many of their power plants to independent generating companies. The generators are free to charge whatever they want because they're governed only by federal regulators who refuse to control wholesale energy prices. "This past winter, the prices charged by the generators shot through the roof, driving the utilities to the brink of bankruptcy. "In January, with the feds still refusing to do their job, California stepped in to purchase the power the utilities could no longer afford to buy. We didn't take over to save the utilities. We took over to keep the power on and the economy strong. That's not all: -- We also negotiated long-term contracts for electricity at vastly lower prices. -- I used my emergency powers to seize control of low-cost power contracts the utilities were about to forfeit to the generators. -- We began negotiations to buy the utilities' transmission system. -- We cut red tape and offered cash incentives to speed up construction of power plants. -- We're launching an $800 million conservation program. -- We're moving to establish a public power authority to build more power. If the private sector fails to build all the plants California needs, we'll build them ourselves. -- And because I share your concern that the generators are ripping us off, we're using every legal remedy to root out and punish illegal conduct. "We can't fix 12 years of inaction overnight. But we're making real progress. "Now, as you know, I have fought tooth and nail against raising rates. It's become increasingly clear, however, that with rising natural gas prices, the feds' failure to control costs, and the state's lack of supply, that some rate increases are needed to keep our lights on and our economy strong. "But I remain committed to protecting average Californians from massive rate hikes. So I'm urging the Public Utilities Commission to adopt a plan that will protect average consumers, reward those who conserve and motivate the biggest users to cut back. "Under my proposal, more than half of you won't pay a penny more. For the rest, the average increase will be 26 1/2 percent. For many of that group, rates will rise only about 10 percent. The heaviest users will see their rates rise 34 1/2 percent on average. That includes business paying their share. This is in addition to the 9 percent surcharge we've all been paying since last winter. "But all Californians can reduce their bills through conservation. "Here's the point: The more you use, the more you pay. The more you conserve, the more you save. Conservation is our best short-term weapon against blackouts and price-gouging. By flexing your power, you'll help secure our energy future. "Unlike the PUC, my plan includes funds to restore the utilities to financial stability -- if they agree to three main conditions: "They must provide low-cost regulated power to the state for 10 years. Agree to sell us their transmission system. And dismiss their lawsuits seeking to double your electricity rates. "My proposal raises rates fairly, assures us of long-term power, stabilizes the utilities and promotes conservation. "Our emphasis on conservation is critical. In order to make it through the summer, we must cut demand by at least 10 percent. "Already we've launched programs to cut back commercial lighting, and reduce consumption in office buildings, schools and government facilities. "Friends, we have a power shortage but we are far from powerless. We are 34 million strong and if each of us does our part, we can minimize disruptions and get through the summer. We are Californians. We've withstood earthquakes, floods, fires, and droughts. "Yes, this mess is man-made, but with your help and God's blessing, we'll get through this as well. "Thank you and good night." ---------------------------------------------------------------------- Copyright 2001 AP
=================================================== JoC Online Daily E-mail Newsletter Wednesday Edition October 17, 2001 Feast of St. Margaret Alacoque (St. Lucia) www.joc.com =================================================== Take the Daily Quiz, sponsored by APL. Riga is the capital of which Eastern European country? Click on http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50PuU0Au =================================================== TODAY'S TOP HEADLINES: * Peak season brings coal for Pacific Northwest ports * Airlines, Post Office eye priority mail * FedEx Express trims fuel surcharge * Holt: Nothing to hide * Emery woes hit CNF * Forward Air earnings falter * Swissair funding: We will if you will * Pirate kidnappings moving into SE Asia * More calls for 'perimeter' security * House gets GSP extension * House committee to consider Customs funding * Brazil OKs free trade zones for ports, airports * Brazilian carriers to merge Mercosur cabotage * JoC Week: ID for "known shippers' =================================================== DON'T MISS OUT ON YOUR OPPORTUNITY TO BE RECOGNIZED BY THE TOP LEADERS IN GLOBAL TRADE! The deadline to reserve your advertising space in the "2002 Directories of U.S. Importers and Exporters" is now OCTOBER 22, 2001. Available on CD-ROM and as a two-volume set, these directories offer comprehensive company profiles and commodity descriptions on the top U.S. importers and exporters. Call (877) 203-5277 or visit http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50QVr0At for more information. =================================================== PEAK SEASON BRINGS COAL FOR PACIFIC NORTHWEST PORTS The surge of holiday imports arrived late at West Coast ports, led by Los Angeles/Long Beach. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDi0AT AIRLINES, POST OFFICE EYE PRIORITY MAIL New security measures could get packages back on planes in time for the holiday shopping season. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDj0AU FEDEX EXPRESS TRIMS FUEL SURCHARGE The FedEx unit will lower its beginning Nov. 5. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDk0AV HOLT: NOTHING TO HIDE The Holt Group denied allegations that it was improperly transferring assets in order to keep them away from creditors. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDl0AW EMERY WOES HIT CNF The transportation conglomerate's earnings fell in the third quarter. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDm0AX FORWARD AIR EARNINGS FALTER Results were dragged down by the closure of U.S. airspace following the Sept. 11 hijackings. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDn0AY SWISSAIR FUNDING: WE WILL IF YOU WILL The Swiss government wants the private sector to foot part of the bill for a start-up. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDo0AZ PIRATE KIDNAPPINGS MOVING INTO SE ASIA The practice of pirates seizing ships' crew and demanding ransom for their release appears to be spreading to Southeast Asia. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDp0Aa =================================================== GET IT WHILE YOU CAN The 12th Annual BreakBulk Transportation Conference & Exhibition sponsored by the Journal of Commerce Group...IS HISTORY! But, you can still get all the news, information and analysis from New Orleans, at the click of a mouse! Go to http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50Qbh0Av =================================================== MORE CALLS FOR 'PERIMETER' SECURITY More groups want tighter border measures between the U.S. and Canada that won't choke trade. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDq0Ab HOUSE GETS GSP EXTENSION The House Ways and Means Committee has passed on to the House floor a bill that would extend the Generalized System of Preferences. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDr0Ac HOUSE COMMITTEE TO CONSIDER CUSTOMS FUNDING A $2.4 Customs budget will be considered by the House Ways and Means Committee. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDs0Ad BRAZIL OKS FREE TRADE ZONES FOR PORTS, AIRPORTS Tax breaks are aimed at spurring trade and attracting shippers to South America's largest country. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDt0Ae BRAZILIAN CARRIERS TO MERGE MERCOSUR CABOTAGE Two Brazilian ship lines will merge their cabotage service to provide shippers with a weekly service. http://news.joc.com/cgi-bin7/flo?y=eDLn0BejkZ0n50RDu0Af ...and only in JoC WEEK ID FOR "KNOWN SHIPPERS" A global database could ease the burden on air-cargo shippers as the United States tightens security. 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NETWORK WORLD NEWSLETTER: DAVE KEARNS on NOVELL NETWARE 05/31/01 - Today's focus: Send Novell your support Dear Wincenty Kaminski, In this issue: * Novell's poor financials cuts deep into company * Links related to Novell NetWare * Featured reader resource _______________________________________________________________ NEWS ALERTS NOW AVAILABLE FROM NETWORK WORLD! You have very specific information needs about a technology or technology vendor and you subscribe to a newsletter or go on- line to find out about the strategic developments in this specific area. But how do you stay up with the late-breaking news? Network World now offers six very focused News Alerts to keep you abreast of the most significant developments of the week on LANs, Storage, Network/Systems Management, The Edge, Cisco and Microsoft. As an added service, if there's impactful, late-breaking news about one of these specific technologies or vendors, by subscribing to our News Alerts, we'll let you know what it is within hours. Subscribe today at http://nww1.com/go/ad082.html _______________________________________________________________ Today's focus: Send Novell your support By Dave Kearns Gathering information about Novell's changes in the aftermath of its recently announced poor second quarter financial results, was like covering a war zone. E-mails and phone messages kept coming in from 'the front' - other journalists, Novell employees, recent ex-employees, as well as interested bystanders such as company stockholders, spouses and significant others. First there were reports that all Novell employees in San Jose were fired and the buildings sold. But some reflection showed that CEO Eric Schmidt and CFO Dennis Rainey were a) still with the company and b) still in San Jose, so that wasn't true. Then there were reports that "hit men" were spotted flying out of Salt Lake City to Novell offices worldwide with orders to close them down. I even heard that the entire NetWare development team was let go. As it turned out, none of those reports was completely true, or completely false. The workforce at San Jose was cut back dramatically, but the office is still there. NetWare's product team is still intact, although the Border Manager team was heavily cut. Some non-U.S. offices, in the Pacific region for example, were hit hard, while Europe suffered little or no personnel loss. It does appear, though, that the on-again, off-again, back-on-again DigitalMe initiative is off for good. Besides the folks who were shown the door last week, there are others who have been given notice that they will be laid off in either four weeks' or six months' time, as projects and contracts are wrapped up. The dust has yet to settle. But while it was exhilarating to watch at the time, on reflection it's rather sad. Some people with whom I should have spoken to more often to tell them how much I appreciated their work are now gone. This is a good time for you to talk to the people you rely on at Novell for information, product and support. Let them know how much you depend on them. Find out who their manager is and send out letters or e-mails of commendation. Let Novell's management know where your priorities lie, name the people who have supported you best and what you expect from the company you've been loyal to all these years. _______________________________________________________________ To contact Dave Kearns: Dave Kearns is the Word Wrangler for Virtual Quill, a writing agency serving the computer and networking industries. If your target customer doesn't know your product, doesn't know its uses and doesn't know he needs it, he's not going to buy it. From books to reviews, marketing to manuals, VQ can help you and your business. Virtual Quill - "words to sell by..." Find out more at: http://www.vquill.com/, or by e-mail at mailto:[email protected]. _______________________________________________________________ RELATED EDITORIAL LINKS Novell posts Q2 loss, plans layoffs - Computerworld, 05/23/01 http://www.nwfusion.com/news/2001/0523novelloff.html Novell caching spinoff no cash cow - Network World, 05/21/01 http://www.nwfusion.com/news/2001/0521volera.html Novell spinoff lays off 10% of workforce - Computerworld, 05/24/01 http://www.nwfusion.com/news/2001/0524novellspin.html Breaking Novell and NetWare news, updated daily: http://www.nwfusion.com/news/financial/novell.html Archive of the Novell NetWare newsletter: http://www.nwfusion.com/newsletters/netware/index.html ______________________________________________________________ FEATURED READER RESOURCE User Excellence Award If you've completed an interesting network project in the last 12 to 18 months, here's your chance to gain industry recognition for it. Network World is currently accepting nominations for its annual User Excellence Award. For more information and an online nomination form, go to http://www.nwfusion.com/nw/awards.html#excellence Deadline for submission is June 11. _______________________________________________________________ SUBSCRIPTION SERVICES To subscribe or unsubscribe to any Network World e-mail newsletters, go to: http://www.nwwsubscribe.com/news/scripts/notprinteditnews.asp To unsubscribe from promotional e-mail go to: http://www.nwwsubscribe.com/ep To change your e-mail address, go to: http://www.nwwsubscribe.com/news/scripts/changeemail.asp Subscription questions? Contact Customer Service by replying to this message. Have editorial comments? Write Jeff Caruso, Newsletter Editor, at: mailto:[email protected] For advertising information, write Jamie Kalbach, Fusion Sales Manager, at: mailto:[email protected] Copyright Network World, Inc., 2001 ------------------------ This message was sent to: [email protected]
---------------------- Forwarded by John J Lavorato/Corp/Enron on 07/11/2000 09:59 AM --------------------------- From: Kevin M Presto @ ECT 07/11/2000 09:54 AM To: John J Lavorato/Corp/Enron@Enron cc: Subject: Bruce ---------------------- Forwarded by Kevin M Presto/HOU/ECT on 07/11/2000 09:47 AM --------------------------- George Hopley 07/11/2000 09:47 AM To: Kevin M Presto/HOU/ECT@ECT, Tom May/Corp/Enron@Enron cc: Subject: Bruce Ontario Power Generation and Bruce Power announce leasing agreement at Bruce Nuclear KINCARDINE, ON, July 11 /CNW-PRN/ - Ontario Power Generation (OPG) today announced it has entered into a major agreement with Bruce Power Partnership relating to the facilities at the Bruce nuclear site. Bruce Power is 95% owned by British Energy plc. The transaction provides an opportunity for the two main unions, the Power Workers' Union and The Society of Energy Professionals on the Bruce site, to subscribe to 5% of the equity. This public/private partnership involves a long-term lease agreement for the Bruce A (3076 MW-currently in lay-up), and Bruce B (3140 MW) facilities. The lease runs until 2018, with an option to extend for up to another 25 years. OPG will receive an initial payment of $625 M to be made in three installments. A first payment of $400 M will be made on closing subject to normal closing adjustments. The remaining $225 M will be paid in two installments of $112.5 M each. Bruce Power's annual payments include base and variable elements. The variable elements include a share of the net revenue, and supplementary payments for the management of used fuel. In total these payments are estimated to be about $150 M in calendar year 2002. Bruce Power will offer employment to all employees at the Bruce site, other than those being retained by OPG. Employees remaining with OPG include those that provide waste management and centralized nuclear operations support services. The agreement is expected to close, subject to Bruce Power obtaining the necessary licences, in the summer of 2001. "Today's announcement is good news for employees, the community, the electricity consumer and the shareholder" stated Ron Osborne, OPG President and CEO. "This agreement injects private equity into the Bruce facilities which in turn will provide new opportunities for employees and the community. It is also a major step towards opening the Ontario electricity marketplace to competition and providing electricity consumers with choice." Osborne noted that an additional benefit of the agreement allows OPG to concentrate on accelerating the performance improvements underway at its Darlington and Pickering nuclear facilities while the new company focuses on the Bruce. Nuclear safety continues to be of paramount importance for Ontario Power Generation, and safety has been a key tenet for British Energy. Both companies are committed to ensuring high safety performance standards. "We are delighted to be announcing the creation of a new company. Bruce Power will demonstrate that safety and commercial success go hand in hand," said Robin Jeffrey, Chairman and Chief Executive Officer of British Energy Canada Ltd. "We have a high regard for CANDU technology and for the skill of the staff at Bruce. We are confident that by working with the staff and the unions, Bruce Power can achieve world class safety and commercial performance." To reduce its market dominance, OPG is required by conditions in its operating licence granted by the Ontario Energy Board (OEB), to reduce its share of generating capacity to no more than 35 per cent of that available to the province 10 years after the market opens. British Energy was selected following an extensive worldwide competitive process over the last two years. They have significant operating experience and a proven safety track record with a range of nuclear reactor types. To close the transaction, Bruce Power will be required to secure licences from the Canadian Nuclear Safety Commission (CNSC) and the Ontario Energy Board. Bruce Power will be required to follow the stringent licensing and operating requirements established by CNSC, formerly the Atomic Energy Control Board. Ontario Power Generation is a major North American electricity generating company. OPG's principal business is the generation and sale of electricity to consumers in Ontario and into the interconnected markets. OPG's goal is to be a premier North American energy company, focused on low-cost power generation and wholesale energy sales, while operating in a safe, open and environmentally responsible manner. British Energy PLC is the UK's largest electricity generator. British Energy owns and operates 15 reactors in the UK and a further two in the United States through its joint venture, AmerGen. British Energy's goal is to be a worldwide electricity leader building on its "Safety First" culture and track record of commercial success. BACKGROUNDER INDEX ------------------ Safety: 1. OPG'S COMMITMENT TO NUCLEAR SAFETY 2. BRUCE NUCLEAR - SAFETY IS NUMBER ONE 3. INFORMATION ON CANDU REACTORS 4. EMERGENCY PLANNING IN ONTARIO Financial: 5. OPG/BRUCE POWER LEASE AGREEMENT 6. NUCLEAR USED FUEL, WASTE MANAGEMENT AND DECOMMISSIONING 7. CHRONOLOGY OF THE PUBLIC/PRIVATE PARTNERSHIP PROCESS Employees: 8. WHAT HAPPENS TO EMPLOYEES Transition: 9. REDUCING MARKET DOMINANCE 10. TRANSITION ARRANGEMENTS 11. NEXT STEPS General. 12. ONTARIO POWER GENERATION 13. QUICK FACTS ON BRUCE NUCLEAR POWER DEVELOPMENT SOURCE Ontario Power Generation Inc.
Wild@Work Brown Bag Lunch Presentation: Oh Deer: An Environmental Crisis in the Making Across Texas, the growing population of white-tail deer in urban environments is creating a new challenge. Join Ephraim Dickson, Executive Director of the Armand Bayou Nature Center, for a discussion on the impacts of this important issue and an exploration of possible alternatives. When: Thursday, June 14th, 11:30 AM to 12:30 PM Where: EB 5C2 IT'S TIME FOR THE 3RD ANNUAL ENRON/MDA BEACH BOWL, June 15!!! This Friday, June 15th, come and celebrate with us as we kick-off the 3rd Annual Enron/MDA Beach Bowl benefiting ALS research! ALS (more commonly known as Lou Gehrig's disease) is a fatal neuromuscular disease which causes progressive muscle weakness and eventually leaves the patient paralyzed. Help us "strike a blow" against ALS while having lots of fun and winning great prizes! Call Lindsay Meade at ext. 34551 for more information. See you at the kick-off! Come dressed in something Hawaiian and win a prize! When: Friday, June 15th, 11:30am-12:30pm (If you can't be there for the whole hour, don't worry! Just stop by whenever you can!!) Where: EB 5C2 Feel free to bring your own lunch. Fruit, cookies and drinks will be provided! Find out about Bring Your Child To Work Day, June 29! The annual Bring Your Child To Work Day is scheduled on Friday, June 29th. Guidelines for participation: (1) Parents MUST stay with their children at all times. Children will not be allowed to participate without their parent in attendance. (2) Participation in the event is with immediate supervisor,s permission only. (3) Children 6 years and older only. (4) Participation is limited to children of Enron or contract employees. (5) Each employee participating MUST sign a release waiver and return it with the registration form by Friday, June 22nd. An email will be distributed this week. This provide parents with details about the registration process as well as a release waiver. Get it While it's Hot! - A Gift From Mervyn's Mervyn's is extending a 15% discount coupon to Enron employees for Men's and Women's Dockers Casual Businesswear. If you are interested in this limited time offer (valid until June 30th) please come by the INFOZONE Kiosk in the lobby during lunch on Tuesday, June 12th to pick up your coupon. Coupons will be distributed on a first come, first serve basis and limit is 2 per employee. Learn More About Beginner Ballroom Dance Lessons Beginner Ballroom Dance Lessons, open to the public and taught by qualified instructors, sponsored by the United States Amateur Ballroom Dancers Association (a non-profit organization), in cooperation with the City of Houston Parks & Recreation Department. Classes start on Tuesday, June 5th from 6:30 - 8:00 pm at the River Oaks Community Center, 3600 Locke Lane (between Weslayan & Buffalo Speedway on Latchmont, one block north of Westheimer). $38.00 for a session of 4 weeks (registration first day of class) If you miss the first class, join us for the second class! $30.00 for seniors over 60, and students under 23 Dances will include: Waltz, Foxtrot, Cha-cha, Rumba, Swing and Tango For further information, call Margaret Daffin at ext. 55083 JOIN THE VOICES OF ENRON TO EXPAND YOUR COMMUNICATION SKILLS! MAKE NEW FRIENDS! EXPAND YOUR HORIZONS! ENHANCE YOUR COMMUNICATION SKILLS! LOSE THE FEAR OF PUBLIC SPEAKING! HAVE A GREAT TIME! Day: Thursdays Time: 11:30 a.m. - 12:30 p.m. Location: Enron Building For more information about The Voices of Enron, contact Melinda Pharms, Vice President of Education, via e-mail at <[email protected]> or by phone at 713/853-3866 - Internal Extension 33866 or Kathy Willard, Vice President, Membership at [email protected] <mailto:[email protected]>, phone No. 713/646-7341 - Internal Extension 67341 Volunteer for the Boys & Girls Club Summer Camp Weekends!!! Kevin Hannon, Boys & Girls Club board member, invites you to join Enron employee John Cote at a Boys & Girls Club summer camp. John and Kevin are looking for commitments from some dedicated ENRON men & women. SPREAD THE WORD - SPOUSES, FRIENDS & OFFICE COLLEAGUES WELCOME - LAST YEAR'S CAMP WAS A HUGE SUCCESS! Details below: WHAT: 2nd Annual Houston Boys and Girls Club Summer Camp Weekend with Enron's incredible volunteers! WHEN: Boys Camp Friday afternoon (3:00 - 6:00pm), June 22 through Sunday afternoon, June 24 --OR-- Friday afternoon (3:00 - 6:00pm), July 20 through Sunday afternoon, July 22 Girls Camp Friday afternoon (3:00 - 6:00pm), July 6 through Sunday afternoon, July 8 --OR-- Friday afternoon (3:00 - 6:00pm), July 13 through Sunday afternoon, July 15 WHERE: Willis, TX (75 minutes from downtown Houston -- just north of Conroe) WHO: 6-8 counselors per camp to chaperone 75 kids (ages 7-16) HOW: Share all sports activities, including canoeing, hiking, fishing, organizing a talent show/bonfire/ghost stories, obstacle course, water balloon fights, softball, basketball, archery, football, etc. (Cooking and clean-up covered by the Houston Boys & Girls Club staff.) CONTACT: John A. Cote at ext. 33830 Volunteers Needed for Bring Your Child to Work Day! Bring Your Child to Work Day is Friday, June 29 Please email Jennifer Milligan if you are interested in volunteering and indicate your preference for indoor or outdoor activities. Have News to Share? To post news or events in Enron In Action, please e-mail your information to [email protected] no later than 12:00 noon the Thursday prior to the next Monday,s mailing.
For some reason I was in the mood to do this today (it,s better than looking at the state of the market)( Here,s the drill: Copy the entire e-mail and paste it onto a new email that you will send. Change all the answers so that they apply to you. Then send this to a whole bunch of people you know including the person who sent it to you. The theory is that you will learn a lot of little known facts about your friends. Remember to send yours back to the person who sent it to you. You never know what you,ll learn! (Do this all at once, without thinking about your answers for a long time). 1. What time is it? 6:17p.m.(Friday, June 8, 2001) 2. Name as it appears on your birth certificate: Mary Ann Coffin (my folks forgot the e in anne so this is the only time my name's been spelled this way) 3. Nickname: (school friends: molls, shmolls, shmolly, and the obvious mollster)(dad: monie, mona, mollyard, m.o., m.o.ie) (youth hostel job: muffin, muffy, muffster, bucky, brineshrimp) 4. Parents, names: Ellie and Jerry 5. Number of candles on your last birthday cake: 30-um-4 6. Date that you regularly blow them out: 1/7 7. Pets: 0 - roommate's cat = the cranky "roxanne" 8. Height: 5, 3 ?8 9. Eye color: brown 10. Hair color: brown 11. Piercings: standard ear job, one hole in each (one just right, one way too low) 12. Tattoos: None 13. How much do you love your job (1-10): 9-10 14. Birthplace: San Francisco, CA 15. Current residence: San Francisco, CA - same zip code as birthplace 16. Profession: calligrapher 17. Celebrity you,d like to be stranded on an island with: Mike Myers 18. Concert people would be shocked to know you attended willingly: ELO 19: Been toilet papering: Yes 20: Been toilet papered: no 21: Loved somebody so much it made you cry? Yes 22: Been in a car crash? Yes, not a big one 23. Croutons or bacon bits? Croutons 24. Doors on car: aspiring to 4 25. Coffee or ice cream? Ice Cream 26. Blanket or stuffed animal? blanket, definitely 27. Dumper or dumpee? in between but more on the dumpee side probably 28. Salad dressing? balsamic vinaigrette (thousand island in my cheesier moments) 29. Color of socks? not a huge fan - plain black or white if I must. 30. Place to be kissed: ear vicinity if I have to pick just one 31. Movie: the original "The Bishop's Wife" with loretta young, cary grant and peter o'toole. 32. Quote from a movie: "But this one goes to 11" 33. Foods: chocolate, guacamole, 34. Favorite Day of the Week: Saturday 35. Children,s names or future children,s names: Who knows at the moment: boy-Jack, girl-Reilly 37. Toothpaste: Aquafresh - it's interesting looking 38. Restaurant: The Lanai if only it were still open: it was a dark, polynesian style, old-fashioned place with tropical fish everywhere, huge wicker throne chairs, islandy male waiters in white, big ultra-garnished cocktails, and they put grenadine and a cherry in my coke (I was probably nine or ten the last time I was there)--now it's been turned into a Red Lobster. 39. Flower: peony, iceland poppy, lily of the valley, tulip, roses for their scent, magnolias for their scent 40. Least Favorite Thing: being really sick/barf 41. Sport to watch: ballroom dancing? synchronized swimming? dog olympics? anything kind of weird that I hardly ever see. 42. Fast food restaurant: McDonald's (filet-o-fish and fries only) or Taco Bell 43. When was your last hospital visit? February for pneumonia...i never seem to end up going to the hospital unless it's the middle of the night. 44. Favorite drink? Jack and coke 45. What color is your bedroom carpet? dull brownish - not by choice 46. How many times did you fail your permit and/or drivers test? only 1! 47. What do you think of Ouija boards? scared of them, actually. I've never participated and still would rather not. I think I believe it would probably work. 48. Where do you see yourself in 10 years? I'll be 44, hmm..no clue. I'd like to be in the midst of the kid stage of domestic bliss, but I don't think it's possible to know where life will lead. 49. Who are the last two people you got e-mail from before this? a client and a spam-meister 50. Have you ever been convicted of a crime? No 51. Which store would you choose to max your credit out on? Only if I was forced to max out my card: A home improvement store if I owned a house. Mostly I like to buy books...but not THAT many books. Maybe some sporty store with great fleece stuff, merrell shoes and perfect cotton t-shirts? Maybe an art gallery that sells original prints by Chagall? 52. What do you do when you are bored? I'm rarely bored. I'd probably work out or take a long walk to get rid of any restless feelings and calm down. 53. What words or phrases do you overuse? "um" and "like"--it's bad 54. Friend who lives farthest away? Vickie who married a dairy farmer and lives in the very highest house up on a swiss alp 55. Most annoying thing? nails on a blackboard and a ticking clock in any room where I'm trying to fall asleep. 56. Best thing? Laughing really, really hard until you're doubled over and your eyes are watering/Joy 57. Bedtime? 11 or 11:30 or so. 58. Person who sent this to you: Cameron and Prentice Sellers 59. How you know this person: I met them through college friends in 1997 and it turned out that they were not only unusually cool and fun, but they lived (and still live) just 3 blocks away from me. 60. Who will respond to this fastest? maybe Rochelle if she gets this when the kids are all asleep 61. Who is least likely to respond at all? Jeff 62. What age were you married (if you have been married)? n/a 63. What time is it now? 7:13 p.m. _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com
---------------------- Forwarded by Steven J Kean/NA/Enron on 04/23/2001 12:29 PM --------------------------- From: Montrice Malone/ENRON@enronXgate on 04/23/2001 12:14 PM To: Beverly Aden/HOU/EES@EES, Amelia Alder/OTS/Enron@ENRON, Jessica Anaya/HOU/ECT@ECT, David Andrews/Corp/Enron@Enron, Megan Angelos/ENRON@enronXgate, Julie Armstrong/Corp/Enron@ENRON, Paul Austin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Terri Bachand/Enron Communications@Enron Communications, Juan Barba/ENRON@enronXgate, Carol Barcus/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Martha Benner/ENRON@enronXgate, Connie Blackwood/ENRON@enronXgate, Nicola Blancke/EU/Enron@ENRON, Rosario Boling/ENRON@enronXgate, Blanca Bollom/NA/Enron@Enron, Rossana Booty/HOU/EES@EES, Erica Braden/Enron Communications@Enron Communications, Rocio Braley/NA/Enron@ENRON, Loretta Brelsford/ENRON@enronXgate, Elaine Brown/HOU/ECT@ECT, Kimberly Bullock/Enron Communications@Enron Communications, Andrew Burns/HOU/EES@EES, Jennifer Burns/ENRON@enronXgate, Kathy Campos/ENRON@enronXgate, Ilan Caplan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lillian Carroll/ENRON@enronXgate, Rosie Castillo/ENRON@enronXgate, Alan Chapman/EU/Enron@Enron, Kay Chapman/HOU/EES@EES, Norma Chavez/ENRON@enronXgate, Katherine Chisley/Enron Communications@Enron Communications, Susan Christianson/NA/Enron@Enron, Cindy Cicchetti/HOU/EES@EES, Venita Coleman/ENRON@enronXgate, Crissy Collett/Enron Communications@Enron Communications, Angie Collins/ENRON@enronXgate, Faye Collis/EU/Enron@Enron, Debbie Contreras/ENRON@enronXgate, Adam Cooper/DUB/EES@EES, Tracy Cooper/Enron Communications@Enron Communications, Lisa Costello/ENRON@enronXgate, Sheri L Cromwell/ENRON@enronXgate, Andrew Daley/EU/Enron@Enron, Oscar Dalton/ENRON@enronXgate, Dorothy Dalton/Enron Communications@Enron Communications, Tiajuan Dancy/ENRON@enronXgate, Suzanne Danz/Corp/Enron@ENRON, Jacqui Darrah/ENRON@enronXgate, Inez Dauterive/HOU/ECT@ECT, Binky Davidson/HOU/EES@EES, Tammie Davis/ENRON@enronXgate, Theresa Davis/HOU/EES@EES, Nicki Daw/ENRON@enronXgate, Nicki Daw/LON/ECT@ECT, Ginger Dernehl/NA/Enron@Enron, Sharon Dick/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Billy Dorsey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joyce Dorsey/Enron Communications@Enron Communications, Bill Doyle/HOU/EES@EES, Debbie Doyle/ENRON@enronXgate, Amy Duncan/Corp/Enron@ENRON, Kari Duncan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Deborah J Edison/ENRON@enronXgate, Janette Elbertson/HOU/ECT@ECT, Patricia English/Enron@EnronXGate, Mercedes Estrada/Enron Communications@Enron Communications, Rosane Fabozzi/SA/Enron@Enron, Susan Fallon/ENRON@enronXgate, Kerry Ferrari/LON/ECT@ECT, Dolores Fisher/Enron@EnronXGate, Amy Flores/Corp/Enron@ENRON, Sue Ford/ENRON@enronXgate, Blanca Franco/ENRON@enronXgate, Bert Frazier/ENRON@enronXgate, Stephen H Friedlander/EWC/Enron@Enron, Irma Fuentes/ENRON@enronXgate, Mrudula Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shelia B Galloway/ENRON@enronXgate, Carolyn George/Corp/Enron@ENRON, Mercy Gil/ENRON@enronXgate, Lisa Gillette/HOU/ECT@ECT, Christina Grow/Corp/Enron@ENRON, Vanessa Guest/EU/Enron@Enron, Mollie Gustafson/PDX/ECT@ECT, Laura Gutierrez/ENRON@enronXgate, Lauren Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Earl Hailey/Corp/Enron@ENRON, Tracy Harris/HOU/EES@EES, Joshua Hatch/Enron Communications@Enron Communications, Karen K Heathman/ENRON@enronXgate, Debra Hicks/ENRON@enronXgate, Kimberly Hillis/ENRON@enronXgate, Sandy Hoelscher/HOU/EES@EES, Janice Hogan/ENRON@enronXgate, Barbara Hooks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Rita Houser/ENRON@enronXgate, Elizabeth Ivers/NA/Enron@Enron, Priya Jaisinghani/NA/Enron@Enron, Diana Jebousek/HOU/AZURIX@AZURIX, Kelly Johnson/Corp/Enron@ENRON, Melissa Jones/ENRON@enronXgate, Susan Jones/ENRON@enronXgate, Jennifer Jordan/ENRON@enronXgate, Robin Jordan/Enron Communications@Enron Communications, Ann Joyner/Enron Communications@Enron Communications, Francisca Juarez/ENRON@enronXgate, Regina Karsolich/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron, Sally Keepers/Corp/Enron@ENRON, Sharon Killey/Enron Communications@Enron Communications, Cheryl Kondo/Enron Communications@Enron Communications, Tammy Kovalcik/FGT/Enron@ENRON, Cheryl Kuehl/Corp/Enron@ENRON, Lena Lacey/Corp/Enron@ENRON, Diane Latson/ENRON@enronXgate, David Leboe/HOU/ECT@ECT, Kimberly Lerro/ENRON@enronXgate, Sandy Lewelling/NA/Enron@Enron, Wykena Lipscomb/NA/Enron@Enron, Anita Llamas-Granado/HOU/EES@EES, Craig Lodrigue/ECP/HOU/ECT@ECT, Leasa Lopez/HOU/EES@EES, Bridget Maronge/ENRON@enronXgate, Lucy Marshall/Enron Communications@Enron Communications, Victoria G Martinez/ENRON@enronXgate, Yolanda Martinez/Corp/Enron@ENRON, Peggy McCurley/ENRON@enronXgate, Belinda McGaughy/EWC/Enron@ENRON, Kathy McMahon/NA/Enron@Enron, Maureen McVicker/NA/Enron@Enron, Yorleni Mendez/Corp/Enron@ENRON, Mickler@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=WMICKLER@EX@enronXgate cc: Carolyn Evans/ENRON@enronXgate Subject: Update of Executive Support Database Hello to all Support Staff. I am Montrice Malone, Support Clerk for the Executive Support Team. I am updating the Executive Support Database. In order to better serve their IT needs for home support, the following information is needed. Executive name, cell phone, home phone, home street, home city, home zip code, spouse if any. In addition, because you are primary support you are also eligible for home support from the IT executive home support team. We also need your home phone, home street, home zip code, for our records. Thank you very much for your assistance and information. You may reply to this e-mail or contact me at EXT# 5-3600. Thanks, Montrice Malone Executive Support Team Clerk Office: 713-345-3600 [email protected]
Thanks! Our team has been working on the supreme decree for over two years and it is gratifying to finally bring this in, given that it will have a significant financial benefit for Enron/Transredes. I have included an executive summary and detailed report below. Executive Summary Through the efforts of the Transredes regulatory team: A presidential Supreme Decree, establishing a new tariff methodology for Bolivian gas transportation, has issued and gone into effect. The recovery mechanism we proposed will allow Transredes to recover over US$100 million, which was at risk. This amount, residing in the gas deferred account, will be recovered over 20 years (instead of 25 under the former regulations) and will take the form of a surcharge on all gas transported by any pipeline in Bolivia (instead of being assessed only on Transredes transport volumes, as per the former regulations). In the future, Transredes will be able to fully recover all of its prudently incurred costs, and the full rate of return contemplated by the Hydrocarbon Law, via tariffs charged for transportation on the domestic and export oil concessions, and the export gas concession. The mechanism advanced by government to subsidize the transportation tariff of the domestic gas concession in the future will, in all likelihood, allow Transredes to receive the full rate of return contemplated by the Hydrocarbon Law, although the mechanism needs to be fleshed out further. The Supreme Decree will also allow Transredes, rate case, financing program and pending bond issue to move forward. Detailed Report This is a significant development in the Bolivian regulatory arena. The Supreme Decree, establishing a new tariff methodology for natural gas transportation in Bolivia, was signed by President Banzer and was published in the official gazette on Wednesday. We officially learned about it yesterday upon receipt of a certified copy. The new methodology and regulations are now in effect. The decree provides for full recovery of Transredes' gas deferred account over the next twenty years via a surcharge on ALL volumes exported from Bolivia, whether transported by Transredes or not. The magnitude of the gas deferred account is much greater than anticipated due primarily to severe export shortfalls as compared to projected export volumes. This is due in large part to delays in the development of the Brazilian market and to expiration of gas sales and export agreements between Bolivia and Argentina (in 1999). Please see the attached graph comparing the volumes projected by the Bolivian government to set transitory tariffs, prior to privatization, with the actual volumes transported. The gas deferred account is estimated to be approximately US$101 million (plus approximately US$ 60MM for the hydrocarbon liquids deferred account, giving a total of US$161MM). Please see attached Gas Deferred Account and Total Deferred Account graphs. These amounts represent the shortfall in revenues experienced due to insufficiently high transitory tariffs, plus the cost of capital at 7%. The recovery mechanism for the gas deferred account represents the mitigation of a significant exposure that existed at the time we acquired the company: the transportation concessions are nonexclusive and producers have the explicit right in the Hydrocarbon Law to build their own (bypass) pipelines, yet the deferred account recovery mechanism placed the burden of recovery solely on the transportation tariffs of Transredes. The change in regulations not only secures recovery of these amounts in a commercially viable manner but will dis-incentivize threatened bypasses. In the future, Transredes will also be able to fully recover all of its prudently incurred costs and rate of return via tariffs charged for transportation on the domestic and export oil concessions, and the export gas concession. We believe that the tariff mechanism for the domestic gas concession may require additional detail work. The mechanism provides for a ceiling rate of US$0.41 for transportation in the domestic concession and a surcharge on all export volumes of US$0.03. These tariff components will not be sufficient to recover the costs and rate of return contemplated by the Hydrocarbon Law to be recovered by Transredes. However, there appears to be no impediment to collecting the revenue shortfall in the Transredes export gas tariff. The regulatory team will continue trying to "firm up" this mechanism. The Supreme Decree will also allow Transredes' rate case to move forward. The rate case filing made in late January kicked off a process that will culminate in the approval of new economic rates to be effective on May 16. The decree and rate case filing will also allow the Transredes financing program and pending bond issue to move forward. These have been stalled for months due to lender doubts and uncertainty about rates and recovery of the deferred account. Richard Shapiro 03/22/2001 05:50 PM To: Ray Alvarez/NA/Enron@ENRON cc: Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron Subject: Re: Supreme Decree Congrats!! Ray Alvarez 03/22/2001 04:29 PM To: Richard Shapiro/NA/Enron@Enron cc: Subject: Supreme Decree Rick, I heard from my Bolivia regulatory team that the supreme decree is a reality and that it is very positive- including full recovery of the $100MM gas deferred account that we were hanging out on. I will provide more details as soon as I receive them. Ray
---------------------- Forwarded by Greg Whalley/HOU/ECT on 09/13/2000 09:28 AM --------------------------- Andy Zipper@ENRON 09/13/2000 09:24 AM To: Greg Whalley/HOU/ECT@ECT cc: Subject: From today's NGI I think we should discuss our response to this. ---------------------- Forwarded by Andy Zipper/Corp/Enron on 09/13/2000 09:16 AM --------------------------- From: Bob Shults@ECT on 09/13/2000 09:03 AM To: Andy Zipper/Corp/Enron@Enron, Louise Kitchen cc: Subject: From today's NGI FYI ---------------------- Forwarded by Bob Shults/HOU/ECT on 09/13/2000 08:57 AM --------------------------- From: Rahil Jafry 09/13/2000 08:57 AM To: Bob Shults/HOU/ECT@ECT, Daniel Diamond/HOU/ECT@ECT cc: Subject: From today's NGI EnronOnline Market Power Under Fire The simmering pot of market concerns regarding the market power of EnronOnline finally boiled over in public yesterday at Chicago's LDC Forum. A representative from EnronOnline had to fend off verbal attacks from competitors and from the audience, who criticized the system as giving Enron the ability to manipulate prices and provide it with an unfair advantage over competitors. Scott Coleman, an official at Altra Energy Technologies, said proprietary systems like EnronOnline, and systems being developed by a consortium of large market players, represent a danger to the health of the energy industry because of their current or potential market power. Altrade operates its own independent online exchange that is one of Enron's biggest electronic competitors. It differs from EnonOnline in that various buyers and sellers trade with each other with Altrade serving to clear the transactions. On EnronOnline, Enron posts bid and asked prices and is a party in every transaction. The proprietary EnronOnline trading system has been accused of market manipulation mainly because of its tremendous growth since going live last November and because of the market strength of its operator, Enron Corp. Enron is the energy industry's largest marketer/trader/risk manager and one of the largest natural gas pipeline operators. About 60% of its marketing and trading business today is done over the EnronOnline system. Critics charged that EnronOnline provides a tremendous advantage to its parent because all of the transaction data is thrown into a historical database that is available only to Enron. EnronOnline has handled more than 280,000 transactions worth $140 billion since going live. The proprietary system handles about 2,000 transactions every day with a value estimated at $1 billion, and most of its online business is natural gas and power sales and purchases. Why has the system been so successful? It's free, easy to use, low risk and there is a tight bid-ask spread, both EnronOnline and its competitors note. There's no special hardware required; everything is on the web and a transaction is as simple as a couple clicks of the mouse. It also provides a broad variety of information, including prices on 1,000 products, and is supported by the largest energy marketing firm. Although there are many other systems out there, few if any have the content, ease of use and price discovery of EnronOnline. Critics claimed that power enables EnronOnline to "soak up liquidity" in the marketplace, and in doing so give itself a tremendous advantage over its competitors. With each trade, Enron gains a little bit more information about its competitors' positions in the market. "Over the long term I think the market will always correct itself," said Altra's Coleman. "But in the short term, I think if any one player has enough of a presence in any one market they can cause prices to move in one direction or another." EnronOnline Director Bob Shults said the company is simply "providing a service for our customers, particularly a bid and ask. But I don't think Enron has the ability to move markets. We are just putting a bid and ask out there, and if people want to buy at our prices, then fine. If people want to sell at our prices, fine then sell it. I don't think we have the market manipulation capability people suspect... We are not bigger than the marketplace." When asked specifically about historical data collected on those who use the system, Shults denied the company studies the buying and selling patterns of its competitors with an eye toward manipulation --- sort of the "Big Brother" of the energy marketplace. "The historical information is not available," EnronOnline's Shults admitted. "We just started calculating the indices and price reports... We are now providing that information to the market so everyone else has that information as well." He said Enron does not retain information about those who use its system. Shults did, however, warn that the system will make the U.S. energy market much more closely connected to the global marketplace in the future. With increasing demand for LNG imports and rapid price discovery of worldwide commodities on EnronOnline, for example, market activity in Africa and the Far East could have a more immediate impact on domestic markets. Quoting analysis conducted by Forester Research Inc., Shults also predicted electronic exchange revenues could grow from $500 billion this year to more than $3 trillion in 2004-2005. ------------------------------------------------------------------------------ -- ,Copyright 2000 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc. Copyright ,2000 Intelligence Press Inc. All rights reserved.
---------------------- Forwarded by Carla Hoffman/PDX/ECT on 10/30/2000 11:17 AM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" <[email protected]> 10/30/2000 06:09 AM To: undisclosed-recipients:; cc: Subject: DJ Cal-ISO Price Caps Prompt Concern Among Mkt Watchers 13:15 GMT 30 October 2000 =DJ Cal-ISO Price Caps Prompt Concern Among Mkt Watchers (This article was originally published Friday) By Jessica Berthold OF DOW JONES NEWSWIRES LOS ANGELES (Dow Jones)--Market watchers and some California Independent System Operator board members voiced concerns about Thursday's ISO vote to impose hourly wholesale power price caps. The vote's opponents say the caps may inhibit forward trading and could affect the construction of new generation in the state. They also say the vote should have waited until after the Federal Energy Regulatory Commission releases its report on California's electricity woes Wednesday. The price caps, effective Nov. 3 or as soon thereafter as possible, will be set monthly and will vary based on ISO forecasted load, monthly gas prices and unit efficiency. The ISO will multiply the average closing price for natural gas over the last three days of NYMEX Henry Hub futures contracts by a fixed measure of generation efficiency at various load levels. For example, if the ISO's forecasted load is 25,001-30,000, the fixed efficiency rate of 14,175 will be multiplied by the natural gas price - say $6/mmBTU - to yield a rounded price cap of $90/MWH. Market sources, who asked not to be named, said that although the ISO filed a proposal with FERC Oct. 20 requiring utilities to boost forward market purchases, the forward market was reacting negatively Friday to the price caps. The ISO appeared to be encouraging forward contracts with its FERC filing but its latest vote is an about face, traders said. "Traders are telling us they are pulling away from forward positions because they don't know what's going on," said California Power Exchange spokesman Jesus Arredondo. "On Monday to Thursday we traded 850 contracts and yesterday we traded 175. Today's there's nothing. There's been one offer at $59 per megawatt hour for five years and no one is touching it." CalPX, which operates the state's day-ahead and block forward market, plans to file a formal response to the ISO proposal with FERC. Market sources said CalPX wasn't in support of the proposal. Market watchers also said that if California ever needs to buy power out of market, those prices will be higher than the cap. Over the summer, the ISO spent a record $101 million on last-minute out-of-state power purchases last summer. "Those inflated out-of-market purchases are what drove the market's high prices this summer," said one source close to the issue. California wholesale electricity prices hit unprecedented levels last summer, and customers in San Diego's fully deregulated market saw their bills triple as a result. ISO board member Mike Florio, who wrote the price cap proposal, stressed that it was a temporary measure that would be terminated as soon as broader market reforms were in place. "This is a three-to-four month proposal and not something we are going to deal with going into the peak period," Florio said. Generators suggested that capping the market might be a disincentive for those looking to build new generation in the state, and that the ISO proposal was untimely given FERC's Nov. 1 release of a report on California's electricity market problems. "The ISO said in its (Oct. 20) filing that FERC needs to be that venue that the wholesale market deals with and we agree with that," said Duke Energy (DUK) spokesman Tom Williams. Several ISO members who voted against the proposal also cited FERC's Nov. 1 report as presenting a possible conflict. "What do I do if FERC comes out with an order contrary (to the caps) on Nov. 1?" said ISO President Terry Winter, who voted against the proposal. Many board members didn't expect to vote on price caps at Thursday's meeting, since a vote on broader market redesign proposals was postponed until November. "This is the wrong time to vote on this if we are not doing comprehensive market redesign today," said board member Barbara Barkovich. Consumer group The Utility Reform Network supported the proposal, saying that action was needed to control the market immediately. Proposal sponsor Florio is a member of TURN. "The ISO has the responsibility to deal with what it can without waiting for FERC. FERC needs a signal that the ISO is serious," said TURN president Nettie Hoge. Hoge also said that she was wary of arguments that the building of generation will be stifled due to the caps, because the caps "are well within a reasonable level." "It's clear the market isn't functioning," Hoge said. "There's going to be lots of debate about going outside the market versus command and control. I don't think the discussion is even in that arena. We have a crisis. Those who say it will get better on its own are living in a fantasy." -By Jessica Berthold, Dow Jones Newswires; 323-658-3872; [email protected] (END) Dow Jones Newswires 10-30-00 0815EST Copyright (c) 1998, Dow Jones & Company Inc G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. <<Gunther Pergher (E-mail).vcf>> - Gunther Pergher (E-mail).vcf
According to this article, Morgan Stanley now controls about one-third of the Southern Intertie's total northbound capacity, or about 1,145 megawatts, until February 2002. Then its share drops to just over 700 megawatts until March 2003.---sch Wall Street joins the energy players By Les Blumenthal Bee Washington Bureau (Published June 9, 2001) WASHINGTON -- Wall Street's interest in the West Coast electricity crisis extends far beyond trading energy futures in some Manhattan skyscraper or arranging financing for much-needed generating plants. Morgan Stanley, which earned more than $5.5 billion last year, has quietly purchased a major share of one of the Bonneville Power Administration's huge transmission lines that link California with the Pacific Northwest. The $18 million deal caught Bonneville off guard and has sparked concern among regional utility executives and lawmakers on Capitol Hill. Morgan Stanley officials said they would use their capacity on the so-called inter-tie to ship power purchased in the Southwest for sale to utilities in Washington state and Oregon. Although most of the attention in the Western power crisis has focused on major energy companies from Texas and other Southern states, Morgan Stanley ranks among the 15 largest power marketers in the nation, according to reports filed with the Federal Energy Regulatory Commission. Morgan Stanley registered as a power marketer with federal regulators in 1995, the first Wall Street firm to take such a step. Merrill Lynch also is registered with the commission. "Wall Street firms have long played a role in the trading of commodities, including energy," said Judy Hitchen, a Morgan Stanley spokeswoman in New York. But many in the utility industry said they hadn't realized Morgan Stanley was buying and selling electricity for actual sale and not just engaging in electronic trading. "I wasn't aware of it," Mark Crisson, superintendent of Tacoma Power, said of Morgan Stanley's purchase of capacity on the inter-tie. "It shows how things are changing." And in Congress, Rep. Peter DeFazio, D-Ore., said Morgan Stanley's direct involvement in West Coast electricity markets wasn't all that surprising. "It's wonderfully lucrative for a few folks," DeFazio said. "This is the big new game. It's the new world of deregulated energy." Bonneville has four major transmission lines linking California and the Northwest capable of carrying enough electricity to power almost seven cities the size of Seattle. The lines were built by the federal government, are operated by the transmission arm of BPA and soon may be turned over to an independent operator to quiet utility fears that Bonneville could hog the region's power grid. Morgan Stanley now controls about one-third of the lines' total northbound capacity, or about 1,145 megawatts, until February 2002. Then its share drops to just over 700 megawatts until March 2003. BPA and several other utilities own the rest of the capacity. "They sent us a fax telling us they wanted to buy capacity on such and such a date and ending on such and such a date," said Shepard Buchanan, a spokesman for BPA's transmission side. "No one had ever made a long-term purchase of that (transmission) path before. It had never come up before." Under federal regulation, BPA had no choice but to accept the Morgan Stanley bid. The transmission lines act like huge spigots that can be turned off and on depending on demand. Though federal regulations prohibit manipulating the lines for profit, theoretically the company that controls the spigot has a huge say in the market. Buchanan said Bonneville would be keeping a close watch on Morgan Stanley. "We are concerned," he said. "We don't want anyone gaming the market by controlling the (transmission) system. We will keep a close eye on Morgan Stanley and others." Although not a secret, the deal was finalized in early January and since then has been accompanied by little public notice. "We purchase transmission capacity from time to time to help us meet our delivery obligations," Hitchen said in response to written questions. Morgan Stanley's Internet site and annual report make only passing mention of its power marketing. "Commodity trading revenues rose 34 percent to a record level in fiscal 2000, primarily driven by higher revenues from certain energy-related products, including electricity, natural gas and crude oil," the company's annual report said. "Increases in energy prices were primarily attributable to strong demand for energy products, relatively low inventory and reduced production values." Morgan Stanley officials are quick to deny they have any intent to manipulate the market, saying that though it may be required to sell any capacity on the inter-tie it doesn't use to other power marketers, federal regulations prohibit it from making a profit on such sales. "We have also offered capacity for resale to third parties," Hitchen said. Others remain skeptical. Bonneville's power-marketing arm also has expressed unease with the Morgan Stanley contract. Bonneville sells about 45 percent of the wholesale electricity in the Northwest, most of it low-cost hydropower generated at the 29 federal dams on the Columbia and Snake rivers. It also controls about 75 percent of the region's electric transmission grid. Crisson said he also was concerned about a possible conflict of interest because Morgan Stanley and other Wall Street firms help arrange financing for new generating plants. "It doesn't surprise me a lot that they are marketing power," he said. "They are capitalists. But they need to be careful because they underwrite debt equity for utilities."
Sally: Congratulations on your recent appointment to Managing Director! It was richly deserved. lexi ---------------------- Forwarded by Lexi Elliott/NA/Enron on 01/16/2001 10:36 AM --------------------------- From: Office of the Chairman 01/12/2001 07:31 PM Sent by: Office of the Chairman To: All Enron Worldwide cc: Subject: Managing Director and Vice President Elections The Managing Director PRC Committee met this week to elect individuals to Managing Director and Vice President positions. These employees are recognized as outstanding contributors to the organization, whose individual efforts have been instrumental in the continued success and growth of the company. We are pleased to announce the election of the following new Managing Directors and Vice Presidents. Please join us in congratulating these individuals on their new appointments. Managing Director ) Commercial Phillip K. Allen, ENA (EWS) West Gas Trading - Houston Franklin R. Bay, EBS Entertainment on Demand - Houston Timothy N. Belden, ENA (EWS) ) West Power Trading - Portland Michael R. Brown, EEL ) Executive - London Christopher F. Calger, ENA (EWS) West Power Origination - Portland Joseph M. Deffner, ENA (EWS) Treasury & Funding - Houston Timothy J. Detmering, ENA (EWS) Corporate Development - Houston William D. Duran, ENA (EWS) Generation Investments - Houston Robert S. Gahn, EES Commodity Structuring - Houston Kevin C. Garland, EBS Broadband Ventures - Houston Ben F. Glisan, Jr., Corporate ) Global Equity Markets - Houston Robert E. Hayes, ETS COMM Marketing - Houston Phillip R. Milnthorp, ENA (EWS) Canada Origination & Trading - Calgary Managing Director ) Commercial Support Sally W. Beck, ENW (EWS) Energy Operations Management - Houston Fernley Dyson, EEL Finance & Support Services - London Vice President ) Commercial Gregory Adams, EES MMC Management - Houston Robert Bayley, EEL-UK Origination ) London Jack D. Boatman, ETS Market Development ) Houston Rhenn Cherry, EES Assets/Labor ) Houston Niamh Clarke, EGM (EWS) Liquids Trading ) London Peter Crilly, EEL-UK Origination ) London Derek J. Davies, ENA (EWS) Canada Origination ) Calgary Mark D. Davis, Jr., ENA (EWS) East Power Trading ) Houston Charles Delacey, Corporate Finance ) Houston Paul Devries, ENA (EWS) Canada Origination ) Toronto Christopher H. Foster, ENA (EWS) West Power Trading ) Portland Jeffrey F. Golden, EES Corporate Development ) Houston Michael D. Grigsby, ENA West Gas Trading Group - Houston Troy A. Henry, EES Bundled Sales-Heavy Industrial ) Houston Rogers Herndon, ENA (EWS) East Power Trading ) Houston James W. Lewis, EES Underwriting ) Houston Christopher Mahoney, EGM (EWS) Liquids Trading ) London Andrew Marsden, EBS Broadband Ventures ) London John McClain, EBS Broadband Wholesale Origination ) Houston Kevin J. McGowan, EGM (EWS) American Coal ) Houston Albert E. McMichael, Jr., ENA (EWS) Gas Commodity Structuring ) Houston Ermes I. Melinchon, Central America Origination ) Houston Steven R. Meyers, EES Consumption ) Houston Lloyd D. Miller, ENA (EWS) Portfolio Management ) Houston Michael A. Miller, Wind Development / Execution-General Administration ) Houston Marcello Romano, EBS EEL-Broadband Trading ) London David A. Samuels, ENW (EWS) EnronOnline - Houston Per A. Sekse, EGM (EWS) Global Risk Markets ) New York Edward S. Smida, EBS Video on Demand ) Houston Mark Tawney, EGM (EWS) Weather Trading ) Houston Jon Thomsen, EBS Business Development ) Latin America/Canada ) Portland Barry L. Tycholiz, ENA (EWS) West Gas Origination - Houston Frank W. Vickers, ENA (EWS) East Gas Origination ) Houston Amit Walia, Corporate, Corporate Development ) Houston William White, EBS Global Bandwidth Risk Mgmt ) Houston Jonathan Whitehead, EEL EA Trading ) Japan Mark Whitt, ENA (EWS) West Gas Origination ) Denver John A. Zufferli, ENA (EWS) Canada Power Trading - Calgary Vice President ) Commercial Support Beth Apollo, EEL Financial Operations Executive ) London Marla Barnard, EBS Human Resources ) Houston Karen L. Denne, Corporate, Public Relations ) Houston Georganne M. Hodges, ENA (EWS) Trading, Origination & Power Plant Accounting ) Houston Phillip Lord, EEL Transaction Support ) London Peggy Mahoney, EES Marketing ) Communication ) Houston Steven Montovano, Corporate, Government & Regulatory Affairs ) Dublin Laura Scott, ENA (EWS) Canada Accounting ) Calgary Richard C. Sherman, ENA (EWS) Transaction Support ) Houston Gregory W. Stubblefield, EES Financial Planning & Reporting ) Houston Dennis D. Vegas, CALME International Public Relations ) Houston Vice President ) Specialized Technical Sami Arap Sobrinho, ESA (EWS) Legal ) Houston Merat Bagha, EBS Sales Engineering ) Houston Justin Boyd, EEL Legal ) London Mary Nell Browning, EBS Legal ) London Jonathan Chapman, EEL Legal ) London Robert D. Eickenroht, Corporate, Legal ) Houston Mark Evans, EEL Legal ) London David Forster, ENW (EWS) EnronOnline ) Houston Janine Juggins, EEL Tax ) London Peter C. Keohane, ENA (EWS) Canada Legal ) Calgary Pinnamaneni V. Krishnarao, ENA (EWS) Research Group ) Houston Travis C. McCullough, ENA (EWS) Finance Origination, Mergers/Acquisitions ) Houston Michael Popkin, ESA (EWS) SA- Risk Management/Network Integration ) Houston Elizabeth A. Sager, ENA (EWS) Physical Trading ) Houston Richard B. Sanders, ENA (EWS) Litigation ) Houston John W. Schwartzenburg, EECC Legal ) Houston Michael D. Smith, EES Legal ) Houston Marcus Vonbock Und Polach, EEL Legal ) London Jay C. Webb, ENW (EWS) EnronOnline Systems ) Houston Vice President ) Technical Donald R. Hawkins, ETS Quality Management ) Houston John R. Keller, ETS Engineering & Construction ) Houston
<P> <BR><BR><FONT SIZE=2><B>[email protected]</B></FONT><BR><FONT SIZE=2>12/20/2001 06:38 AM GMT</FONT><BR><BR> <FONT SIZE=2>To:</FONT> <BR> <FONT SIZE=2>cc:</FONT> <BR> <FONT SIZE=2>bcc:</FONT> <BR> <FONT SIZE=2>Subject:</FONT> <FONT SIZE=2>Holy War</FONT><BR> <BR><BR></P><P><FONT FACE="Monospace,Courier">Nothing spiritually uplifting, but I got a good chuckle from this.<BR>Have a great day!<BR></FONT><BR><BR><FONT FACE="Monospace,Courier"> > >"Somebody said, 'What good will it do to kill Osama bin Laden?' I<BR>said,'I don't know, let's find out.'"<BR>*    Don Imus<BR></FONT><BR><FONT FACE="Monospace,Courier">CBS News finally received anthrax in the mail. As usual, we're<BR>number three."<BR>*    David Letterman<BR></FONT><BR><FONT FACE="Monospace,Courier">"The FBI is urging all Americans to beware of any letters or<BR>packages that have badly misspelled words. Man, this is going to be<BR>terrible news for the rap industry."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Last night the Taliban offered to release eight Westerners if the<BR>U.S.  promised not to attack. The State Department declined but thanked<BR>the Taliban for the offer, saying it really felt good to laugh again."<BR>*    Tina Fey  on Saturday Night Live's "Weekend Update"<BR></FONT><BR><FONT FACE="Monospace,Courier">"President Bush continues to have the highest popularity rating of<BR>any president ever, current rating 130 percent... In fact, Al Gore<BR>carries in his wallet a picture of him and Bush at the debates and says,<BR>'Yeah, I know him. We used to hang out.'"<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Today President Bush urged all Americans to be patient with the war<BR>on terrorism. I think we're pretty patient. Election day took what, three<BR>months?"<BR>*   Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"New York Mayor Rudy Giuliani is lobbying now to stay in office<BR>another three months. And today Clinton said, 'You can do that?'"<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Today in New York, we had the primary elections for mayor. To<BR>improve their chances, all five candidates changed their name to Rudy<BR>Giuliani."<BR>*    Conan O'Brien<BR></FONT><BR><FONT FACE="Monospace,Courier">"People want to say there isn't racial profiling at the airport, but<BR>let's be honest.  If your first name is Mohammed, and your last name isn't<BR>Ali, leave a little extra time."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Do you remember the good ol' days when Congress was only unsafe if<BR>you were an intern."<BR>*    David Letterman<BR></FONT><BR><FONT FACE="Monospace,Courier">"The big question now is who will take power in Afghanistan once the<BR>Taliban is defeated. I was thinking, how about Al Gore? He's not doing<BR>anything, he needs a job, and he's already got the beard."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Things have really changed here in Hollywood. Used to be people in<BR>this town couldn't wait to get an envelope full of white powder."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Postal inspectors have been given advanced warning that Publishers<BR>Clearinghouse is sending packets of laundry detergent that could be<BR>mistaken for anthrax. Oh, good timing. What genius came up with this<BR>promotion?  What's next - a ticking alarm clock?  Let's put that in a box."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"In Pakistan anti-American protesters set a Kentucky Fried Chicken<BR>restaurant on fire. The protesters mistakenly thought they were attacking<BR>high-ranking U.S. military official Colonel Sanders."<BR>*    Jimmy Fallon on Saturday Night Live's "Weekend Update"<BR></FONT><BR><FONT FACE="Monospace,Courier">"President Bush has urged people to get back to normal and today<BR>Congress announced that they are accepting bribes again."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"It's a tough time to do humor, but it's not the only tough time.<BR>There have been other tough stretches in comedy. Remember a couple of<BR>years ago when President Clinton stopped dating for a couple of weeks?"<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"Now this really annoys me; all these people getting on the Internet<BR>and saying Nostradamus predicted this. If Nostradamus were alive today<BR>his name would be Miss Cleo and he'd be charging $2.99 a minute."<BR>*    Jay Leno<BR></FONT><BR><FONT FACE="Monospace,Courier">"People are being much, much nicer to each other in New York. And I<BR>have to be honest, it's kind of weird. The other night at Shea Stadium,<BR>instead of yelling 'You suck!' at the Braves, Mets fans were yelling,<BR>'Others are better than you!'"<BR>*    Conan O'Brien<BR></FONT><BR><FONT FACE="Monospace,Courier">"This Osama bin Laden guy, spoiled rich kid worth $300M. I have three<BR>words for this guy: Anna Nicole Smith. We send her over there, she'll get<BR>his money, he'll be dead in a week."<BR>*    Jay Leno<BR></FONT><BR><BR><BR><FONT FACE="Monospace,Courier">_________________________________________________________________<BR>Get your FREE download of MSN Explorer at <A HREF=http://explorer.msn.com/intl.asp>http://explorer.msn.com/intl.asp</A>.</FONT></P>
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
Link to www.ze.com [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Critical Trade Information on a Timely Basis [IMAGE] [IMAGE]Price Views - Market Views - Credit Views An Unforgiving Market Deciphering and responding to elements driving the changing competitive power and natural gas markets is an inordinately complex task. The challenge has proven to be too difficult for even some of the largest players; those which have appeared to be the most stable and capable. The plights of Enron, the California Power Exchange, SDG&E and PG&E highlight the difficulties that sophisticated market participants and regulators face when trying to manage change. The Enron collapse, in particular, should drive home the extent of exposure that interconnected counterparties and market participants face. The market is impartial and unforgiving. From the biggest to the smallest; the public and the private, all face similar risks and have similar needs. The major ratings agencies and the financial community have begun to focus heavily on the risks and information requirements of the power industry. We, as active market participants, must also be concerned about these risks, taking steps to identify, measure and mitigate them as much as possible. In most cases, the difference between success and failure depends on whether you have access to the right data and are able to use it in the right way in a timely manner. Maintaining a competitive advantage and surviving the volatile swings of transacting in competitive energy markets requires having access to, and being able to interpret and respond to, the right data before such information becomes commonly obvious. Hindsight is 20/20 - success in evolving markets is achieved through developing the capability and foresight to take preventative and proactive steps. History of Providing Clients with the Right Tools ZE PowerGroup has a long history of providing its clients with the strategic support they need to navigate through uncertain markets. In response to high market demand, we have developed a market-monitoring product that provides corporations the market intelligence, direction, forward price views and credit data needed to support trading activities. We realize that the cost, expertise and infrastructure required to develop timely data systems and analytical intelligence can be prohibitive on an individual basis. We think that we can leverage our expertise and considerable investment in these systems with a diverse group of clients and hence, greatly reduce individual subscriber costs. Decision making in current markets is not easy, it requires rigorous information extraction, sophisticated data analysis and application of considerable expert judgment (all difficult, costly and time consuming endeavors) Price, Market and Credit View Subscription Service We believe the service described below provides cost effective and timely access to information critical to portfolio management, credit risk management and term trading. The service will include one ZE Area and the following, 1. Initial report Regional background information Description of the ZE Forward Views development philosophy and methodology Description of the credit review system and ratings methodology 2. Mid-term views (eighteen months); includes Monthly average prices and LLH/HLH differentials Provide probabilistically derived mean price view and associated bands of uncertainty (5%, 25%, 75% 95%) Provided for client selected electric and gas hubs Detailed explanation of assumptions Tables and Graphs provided in user friendly excel sheets Updated monthly 3. Intermediate-term views (five year); includes Monthly average prices for sixty months and LLH/HLH differentials Provide probabilistically derived mean price view and associated bands of uncertainty (5%, 25%, 75% 95%) Provided for client selected electric and gas hubs Detailed explanation of assumptions Tables and Graphs provided in user friendly excel sheets Updated quarterly 4. Long-term views (twenty year); includes Yearly average prices for twenty years Provide probabilistically derived mean price view and associated bands of uncertainty (5%, 25%, 75% 95%) Provided for client selected electric and gas hubs Detailed explanation of assumptions Tables and Graphs provided in user friendly excel sheets Updated semi-annually 5. Executive market views: Two page regional review which provides key perspectives on market events Delivered monthly [IMAGE] [IMAGE] [IMAGE] 6. Counter-party credit views ZE PowerGroup uses its software and expertise, combined with financial and market analysis to develop client specific credit reviews of counter-parties. Clients can specify the counterparties that they wish to have reviewed. Counter-party reviews are updated monthly; includes updating credit review rating, updating of trade limits and reporting of assumptions/changes from last period Contact To download a PDF brochure with additional information click here . To speak to someone directly regarding the service, pricing or product customization please contact: Paul Seo Marketing Manager [email protected] , 604-244-1469 or Aiman El-Ramly Vice President Marketing and Business Development [email protected] , 604-244-1654. General information about ZE PowerGroup can be found at www.ze.com . [IMAGE] [IMAGE] [IMAGE] [IMAGE] Link to www.ze.com [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] You received this newsletter because your email address is on our mailing list. We hope you find our mailings useful. However, if you'd like your name taken off the mailing list, you can do so by replying to this email with UNSUBSCRIBE in the subject line.
Holiday Shopping Support The Rise School of Houston while you do your holiday shopping! Participating stores in the Center at for Rise School! Post Oak, 5000 Westheimer (across from the Galleria), are donating a percentage of their sales on Saturday, November 18 to The Rise School. No cards to buy, all you need to do is shop! Stores include BB1 Classic, Iloff Jewelers, Nature's Way Day Spa and Salon, Sport Clips All Star Haircuts and more - look for posters in participating stores. For more information about Rise, check out www.riseschool.com. Houston Symphony Enjoy the 4th Annual Singles Bash with the Houston Symphony on Monday, November 20 from 6:00 p.m.-7:00 p.m. Singles Mixer! at Sambuca Jazz Cafe! This pre-concert party offers complimentary hors d'oeuvres, live jazz quartet Blue Monks, door prizes and more, and is a prelude to the Houston Symphony concert at 8:00 p.m. featuring the legendary violinist Midori! Tickets are $35 and include the mixer and concert ticket, and pre-paid reservations are required. Don't miss out on this fun mixer - call 713-238-1477. Classical Music Subscribe to the 2000-2001 Houston Symphony Casual Classics season, where hosts and artists provide the audience Happy Hours! with muscial examples and insights into the world of music before each spectacular performance. Enjoy pre-concert Happy Hours featuring the Blue Monks jazz quartet as well as select opportunities to mingle backstage with guest artists if you purchase the ticket package. To find out more about program dates and highlights, visit www.houstonsymphony.org or call 713-224-7575 to subscribe. Nutcracker Come shop and support the talented Houston Ballet! The Houston Ballet Guild's 20th Annual Nutcracker Market will Market be held at the Astrohall Novemeber 9-12. Merchants from around the country will showcase row after row of gifts for your early holiday shopping, so beat the crowd and join in on the Early Bird Power Shopping on Saturday, November 11 from 8:00 a.m. to 10:00 a.m. Tickets are $25 dollars each and parking is complimentary. For ticket information call 713-535-3231 or email [email protected]. Chinese Paintings Are you an art lover? Come to the Continental Center I Gallery (Continental Building, 1600 Smith, 2nd floor) and enjoy Show Chengyi Li, an artist from China, and his selection of personal works of Chinese art. The exhibit will run from October 30 to December 1. Enron employees receive a 10% discount on the artist's works. For more information, contact Maggie Li at ext. 56011 or click here for a preview! Flood Relief in Massive floods in recent weeks have devastated much of the Mekong Delta in Vietnam, and as much help as possible Vietnam is needed to help the millions of victims driven out by the natural disaster. Thousands of people have died and the main food source, rice, has been destroyed. Homes and crops are not expected to recover until well after next year. Food, water, and shelter are all in extremely short supply. Every bit of help can make a huge difference! For information on how to support this important cause, contact Thu Pham Arnold at ext. 55125. Donations to the flood relief can be made to: VCSA Flood Relief Vietnamese Culture & Science Association P.O. Box 741301 Houston, TX 77247 Enron will match your generous contribution dollar for dollar. See http://home.enron.com/cr/envolved/ Museum of Fine Arts You are invited to the Museum of Fine Arts Corporate Partner Holiday Party on December 12 from 7:00 p.m. Holiday Party to 9:00 p.m, but volunteers are needed to help with fun and exciting preparations! The party is free for all corporate partner company employees and their families. In addition to face-painting, escorting guests, and numerous activities on the night of the party, fun volunteer opportunities include: Invitation Stuffing Activity - November 9 5:30 p.m.- 7:30 p.m. Craft Preparation Activity - November 14 5:30 p.m.- 7:30 p.m. Contact India Kerr-Perkinson at 713-639-7570 for more information and or click here to print out the volunteer form. Enron Kids Holiday Come participate with Enron Kids, a program that helps provide books and equipment for schools in need. Sponsor a Fun student or team up with co-workers or your department to provide a bag full of holiday cheer to an HISD Burrus Elementary student! A shopping committee can shop for you if your schedule does not give you the time. Sign-ups are: November 14, 16, 17: 11:00 a.m. - 1:00 p.m. in the Enron Building lobby November 15: 11:00 a.m. - 1:00 p.m. in 3AC 601 November 15: 11:00 a.m. - 1:00 p.m. in Jefferson Bldg. Ground Floor Conference Room Gift drop-offs will be on December 4-8, and the holiday party for Enron Kids will be at Burrus Elementary on Thursday, December 14, with transportation available to sponsors. For more information, contact Geneva Davis at ext. 35517 or Leslie Campbell at ext. 35983. Mammograms M.D. Anderson will be here November 13-17 to administer mammograms. Call 713-745-4000 to Available schedule an appointment. Cost is $15 for employees, spouses, retirees and EDS; $16 if donating to The Rose (an organization that provides free mammograms for low-income women); $75 for contractors. The 2nd Annual Enron Dog Day Afternoon 'Howloween Party' hosted over 100 lovable canines and raised approximately $2,500 for organizations such as Great Beginnings, Golden Retreiver Rescue, Harris County Animal Control, and Canines In Action!
This is why California public policy is so screwed up; they spend their time reading and sharing stuff like the attached. Enjoy, anyway! ---------------------- Forwarded by Carolyn Green/HOU/AZURIX on 12/15/99 01:18 PM --------------------------- "Vic Weisser" <[email protected]> on 12/15/99 11:48:11 AM To: "Richard_Dan" <[email protected]>, "Weisser_Vic" <[email protected]>, "Singer_Joel" <[email protected]>, "Tannenbaum_Peter" <[email protected]>, "Barmore_Mark" <[email protected]>, "Florio_Mike" <[email protected]>, "Feraru_Rob" <[email protected]>, "Barr_Mike" <[email protected]>, "Barsimian_Loretta" <[email protected]>, "Beasley_Michael" <[email protected]>, "Brown_Hal" <[email protected]_>, "Burns_Susan" <[email protected]>, "Christie_Bill" <[email protected]>, "Clark_Michelle" <[email protected]>, "Dempsey_Bill" <[email protected]>, "Drake_Debbie" <[email protected]>, "Dressler_Garrett" <[email protected]>, "Eva_Eva" <[email protected]>, "Everitt_Sara" <[email protected]>, "Fadelli_Paul" <[email protected]>, "Farabee_David" <[email protected]>, "Fitzmaurice_Dick" <[email protected]>, "Garvey_Ellen" <[email protected]>, "Gioja_Linda" <[email protected]>, "Goldstein_Seth" <[email protected]>, "Grace_Manny" <[email protected]>, "Grattan_John" <[email protected]>, Carolyn Green/HOU/AZURIX@AZURIX, "Gualco_Jack" <[email protected]>, "Hall_Michael" <[email protected]>, "Hathaway_Janet" <[email protected]>, "Hertel_Mike" <[email protected]>, "Hwang_Roland" <[email protected]>, "Kahoe_Mike" <[email protected]>, "Kelley_Norm_and_Pat" <[email protected]>, "Kirkwood_Corey" <[email protected]>, "Koons_Christina" <[email protected]>, "Larson_Terry" <[email protected]>, "Ligh_David" <[email protected]>, "Lucas_Bob" <[email protected]>, "Malcolm_Kim" <[email protected]>, "Mamary_jeanine" <[email protected]>, "Manaster (Santa Clara)" <[email protected]>, "Mason_Pat" <[email protected]>, "McCubbin_Sandi" <[email protected]>, "McGrady_Kathy" <[email protected]>, "Moretti_Marie" <[email protected]>, "Morse_Emily" <[email protected]>, "Niemetz_Sven" <[email protected]>, "Sarris_Sharon" <[email protected]>, "Secundy_Jerry" <[email protected]>, "Silverstein_Chuck" <[email protected]>, "Silverstein_Jerry" <[email protected]>, "Silverstein_Jerry" <[email protected]>, "Silverstein_Leslie" <[email protected]>, "Silverstein_Stu & Sheila" <[email protected]>, "Sisson_Tom" <[email protected]>, "Smith_Dave" <[email protected]>, "Sohn_Andy" <[email protected]>, "Solem_Don" <[email protected]>, "Stevens_Ken" <[email protected]>, "Strehl_Katherine" <[email protected]>, "Sullivan_Martha" <[email protected]>, "Sweet_Shelley" <[email protected]>, "Trahan_Paul" <[email protected]>, "Tuck_Cindy" <[email protected]>, "Valenti_Peggy" <[email protected]>, "Weisser_Deborah" <[email protected]>, "Weisser_Vic" <[email protected]>, "Whittick_Janet" <[email protected]>, "Wilkinson_Bob" <[email protected]>, "Wise_John" <[email protected]>, "Wollan_Otis" <[email protected]>, "Zobel_Bill" <[email protected]> cc: Subject: Another Corporate Merger - Chrisnuka!! ALL SCROOGES DELETE! --------------------------------------------------------- Victor Weisser California Council for Environmental and Economic Balance 100 Spear Street Suite 805 San Francisco, California 94105 415/512-7890 Extension 16 [email protected] ---------- Continuing the current trend of large-scale mergers and acquisitions, it was announced today at a press conference that Christmas and Chanukah will merge. The new mega-holiday will be know as Chrisnuka > An industry source said that the deal had been in the works for about 1300 years, ever since the rise of the Muslim Empire. > While details were not available at press time, it is believed that the overhead cost of having twelve days of Christmas and eight days of Chanukah was becoming prohibitive for both sides. By combining forces, we're told, the world will be able to enjoy consistently high-quality service during the Fifteen Days of Chrisnukah, as the new holiday is being called. Massive layoffs are expected, with lords a-leaping and maids a-milking being the hardest hit. As part of the conditions of the agreement, the letters on the dreydl, currently in Hebrew, will be replaced by Latin, thus becoming unintelligible to a wider audience. > Also, instead of translating to "A great miracle happened there," the message on the dreydl will be the more generic "Miraculous stuff happens." In exchange, it is believed that Jews will be allowed to use Santa Claus and his vast merchandising resources for buying and delivering their gifts. In fact, one of the sticking points holding up the agreement for at least three hundred years was the question of whether Jewish children could leave milk and cookies for Santa even after having eaten meat for dinner. A breakthrough came last year, when Oreos were finally declared to be Kosher. All sides appeared happy about this. > A spokesman for Christmas, Inc., declined to say whether a takeover of Kwanzaa might not be in the works as well. He merely pointed out that, were it not for the independent existence of Kwanzaa, the merger between Christmas and Chanukah might indeed be seen as an unfair cornering of the holiday market. Fortunately for all concerned, he said, Kwanzaa will help to maintain the competitive balance. > >He then closed the press conference by leading all present in a rousing rendition of "Oy, Come All Ye Faithful."
_________________________________________________________________ F O O L W A T C H Monday, October 16, 2000 [email protected] _________________________________________________________________ REGISTER TO BECOME A FOOL -- GET FREE STUFF! http://www.fool.com/m.asp?i=157747 _________________________________________________________________ Close Change %Change NOW 50 1,798.99 -9.33 -0.52% DJIA 10,238.80 +46.62 +0.46% S&P 500 1,374.62 +0.45 +0.03% NASDAQ 3,290.28 -26.49 -0.80% (Numbers as of 5:00 p.m. ET) Sponsored by: MUTUALS.com Get a FREE portfolio analysis and recommendation. Plus, buy or consolidate over 10,600 mutual funds, only at MUTUALS.com. Get your free portfolio checkup now. http://www.lnksrv.com/m.asp?i=157748 BORE PORT: CISCO, APPLE, AND PROBABILITIES If you pay too high a price for a business, you may undo the effects of years of favorable business developments. 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NETWORK WORLD NEWSLETTER: PHIL HOCHMUTH on LINUX 06/04/01 - Today's focus: Boost for enterprise Linux Dear Wincenty Kaminski, In this issue: * Major vendors beef up enterprise Linux support * Links related to Linux * Featured reader resource _______________________________________________________________ This newsletter sponsored by Thawte FREE Apache SSL Guide from Thawte Certification Do your online customers demand the best available protection of their personal information? Thawte's guide explains how to give this to your customers by implementing SSL on your Apache Web Server. Click here to get our FREE Thawte Apache Guide. http://nww1.com/go/2928331a.html _______________________________________________________________ NEWS ALERTS NOW AVAILABLE FROM NETWORK WORLD! You have very specific information needs about a technology or technology vendor and you subscribe to a newsletter or go on- line to find out about the strategic developments in this specific area. But how do you stay up with the late-breaking news? Network World now offers six very focused News Alerts to keep you abreast of the most significant developments of the week on LANs, Storage, Network/Systems Management, The Edge, Cisco and Microsoft. As an added service, if there's impactful, late-breaking news about one of these specific technologies or vendors, by subscribing to our News Alerts, we'll let you know what it is within hours. Subscribe today at http://nww1.com/go/ad082.html _______________________________________________________________ Today's focus: Boost for enterprise Linux By Phil Hochmuth While the high-tech economy may still be depressed, several large IT vendors are continuing to invest in the development and fine-tuning of Linux for large-scale enterprise deployments. This is good news for users. Last month, IBM made some noise with two announcements in the Linux development area. Big Blue, along with NEC, Hitachi and Fujitsu, announced a new joint Linux development effort aimed at improving the management of Linux servers by developing tools to better diagnose operating system faults. The four mainframe and server makers also will add support for Non- Uniform Memory Access (NUMA) support in the Linux code, which could lead to highly-scalable, mainframe-like Linux servers. In a separate announcement, IBM launched its Linux Community Development System. The program will make IBM mainframes running virtual Linux server images available to open source developers for code testing. Developers will be able to access either a TurboLinux or SuSE distribution image running on an IBM zSeries mainframe for 30, 60 or 90 days. The program's aim is to give developers a high-powered hardware platform for developers to create enterprise-level applications for Linux. Also in the area of Linux application development, the Open Source Development Lab plans to expand by opening a second site in Tokyo, Japan. The Open Source Development Lab was started in Portland, Ore., in December to provide Linux developers with enterprise hardware as an application development platform. Observers have said that since Linux was created on low-end PC hardware, the operating system has not been scaled up to its full potential. This is because most Linux application developers, without access to their own personal mainframes, use lower-powered PCs for writing and testing their code. With large companies throwing their weight behind enterprise Linux development, users might expect to see some interesting new software products in the near future. _______________________________________________________________ To contact Phil Hochmuth: Phil Hochmuth is a staff writer for Network World, and a former systems integrator. You can reach him at mailto:[email protected]. _______________________________________________________________ RELATED EDITORIAL LINKS Check out IBM's Linux mainframe development program http://www.ibm.com/linux Read more about the OSDL http://www.osdlab.org/ IBM, NEC, Hitachi and Fujitsu team on Linux IDG News Service, 05/30/01 http://www.nwfusion.com/news/2001/0530ibmnhf.html Breaking Linux news from Network World and around the 'Net, updated daily: http://www.nwfusion.com/topics/linux.html Archive of the Linux newsletter: http://www.nwfusion.com/newsletters/linux/index.html ______________________________________________________________ FEATURED READER RESOURCE User Excellence Award If you've completed an interesting network project in the last 12 to 18 months, here's your chance to gain industry recognition for it. Network World is currently accepting nominations for its annual User Excellence Award. For more information and an online nomination form, go to http://www.nwfusion.com/nw/awards.html#excellence Deadline for submission is June 11. _______________________________________________________________ SUBSCRIPTION SERVICES To subscribe or unsubscribe to any Network World e-mail newsletters, go to: http://www.nwwsubscribe.com/news/scripts/notprinteditnews.asp To unsubscribe from promotional e-mail go to: http://www.nwwsubscribe.com/ep To change your e-mail address, go to: http://www.nwwsubscribe.com/news/scripts/changeemail.asp Subscription questions? Contact Customer Service by replying to this message. Have editorial comments? Write Jeff Caruso, Newsletter Editor, at: mailto:[email protected] For advertising information, write Jamie Kalbach, Fusion Sales Manager, at: mailto:[email protected] Copyright Network World, Inc., 2001 ------------------------ This message was sent to: [email protected]
California; Metro Desk Electricity Cost Data Spread the Blame Power: Many suppliers charged more than the firms that Davis has pilloried, records show. RICH CONNELL; ROBERT J. LOPEZ; DOUG SMITH TIMES STAFF WRITERS 07/10/2001 Los Angeles Times Home Edition B-1 Copyright 2001 / The Times Mirror Company SACRAMENTO -- California's energy meltdown involves a far more diverse group of wholesale electricity merchants than suggested by Gov. Gray Davis, who has aggressively blamed a handful of Texas companies, state records show. During the first three months of this year--one of the worst stretches of power shortages during the crisis--an assortment of public and private entities charged the state prices averaging well above some of those paid to Texas firms, according to documents released to The Times on Monday by the Department of Water Resources, which now buys power for California. Among those setting and collecting some of the highest average prices per megawatt-hour were a Canadian public utility, a subsidiary of San Diego Gas & Electric's parent company, and the Los Angeles Department of Water and Power, the report shows. Their average prices ranged from $498 a megawatt-hour charged by Powerex, the trading arm of British Columbia's BC Hydro, to $292 an hour by the DWP. In fact, some of the biggest private power companies singled out for criticism by Davis and other state officials--Dynegy Inc., Duke Energy and Mirant--charged less than the average prices the state paid for the period. Those companies' average prices ranged from $146 to $240 per megawatt-hour, according to an analysis of the documents. The figures cover the various types of spot and longer-term power purchased by the state during three months that included rolling blackouts and more than a month of razor-thin reserves, leading to continuous power emergencies. Davis spokesman Steve Maviglio said the governor has directed his sharpest barbs at private out-of-state generators because, in general, they have reaped the highest profits over the longest period. "You have to look at the whole picture," Maviglio said. "The governor was expressing his displeasure with the arrogance of the generators who wear cowboy hats," he said. "Their profits were 100% to 400% above last year. . . . Just because there are other entities who are charging us more [per megawatt-hour] doesn't change the fact that we are getting ripped off by companies from Houston, Tulsa, Atlanta or Charlotte." The report by the Department of Water Resources was provided to The Times on the same day the state released 1,700 pages of documents on California's electricity purchases on the volatile spot market for the year's first quarter. The records detail how the state spent nearly $8 billion buying power in the first five months of the year, and underscore the complexity of the state's energy problem. They also show that patterns of high prices are not limited to a few generators. Oscar Hidalgo, a spokesman for the water resources agency, said that the reports together show that prices were extremely volatile early in the year. "All the prices were high," he said, noting the downward trend in costs since his agency began buying power in mid-January. The average price per megawatt-hour for all state purchases went from $316 in January to $243 in May. Spot prices fell from an average of $321 per hour to $271, the reports show. In the first quarter of the year, some public entities' prices far exceeded those of the biggest private companies. For example, Houston-based Enron, one of the nation's biggest power traders, charged an average of $181 per megawatt-hour. And Atlanta-based Mirant, which sold the most to the state, a total of $706 million, charged an average of $225 per megawatt-hour. By contrast, a Calgary, Canada, firm, TransAlta Energy, averaged $335 a megawatt-hour, and the Sacramento Municipal Utility District had average charges of $330 per megawatt-hour. A spokesman for Enron, Mark Palmer, said recently that the "vilification of Enron was based on politics, not facts." Spokesmen for BC Hydro could not be reached late Monday to comment on its huge sales to the state. In the past, the utility has defended its pricing practices, saying it has offered last-minute hydroelectric power that helped keep California's lights on. A spokeswoman for Sempra, the parent company of San Diego Gas & Electric, said late Monday the company was unable to comment because it had yet to see the figures released by the state. Officials at DWP, who could not be reached Monday evening, have defended their pricing, saying the costs of producing the power needed by the state were extremely high. More Power Bought Than Projected Hidalgo, of the Department of Water Resources, said his agency's efforts, coupled with conservation by business and consumers and falling natural gas prices, have begun to tame the state's market. Still, the state had to purchase $321 million in power in April and May, about 10% more than Davis' analysts had projected. Hidlago said that was because of hot weather in May and other supply problems in April. He said reports will show that power purchases fell short of state projections in June and early July. The reports also will show that prices paid by the state were down in June and July, partly because spot prices have fallen sharply, often to well under $100 a megawatt-hour. A summary Department of Water Resources report released Monday credited Davis' program of nurturing new power generation and establishing long-term power contracts with with "moving the California electric energy industry closer to normalcy." Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
---------------------- Forwarded by Keith Miceli/Corp/Enron on 06/05/2000 12:43 PM --------------------------- Keith Miceli 06/05/2000 09:52 AM To: Diomedes Christodoulou/SA/Enron@Enron, J Mark Metts/NA/Enron@Enron@ECT, Mark Palmer/Corp/Enron@ENRON cc: Subject: Communication Plan Preparatons Gentlemen: The California Project is now moving from phase I into phases II with respect to commuication/PR activities: Phase I--No major leak/"no comment policy". The only communications responses (ESA Employee Memo, Employee Q&As for Elektro and Cuiaba, and Q&Asfor vaious stakeholders) required to date were prompted by the TV (Bom Dia) news story and Gazeta Mercantil article. Phase II--Major leak requiring disclosure. While prospective buyers have signed CAs, there's always the possibility that news of the Project and/or elements from the IM could be leaked--either inadvertently or by design. While this scenario is unlikely, we need to be prepared to respond before there is an actual sale of assets. A draft press release has been prepared for Ken Lay, confirming that Enron is considering the sale of its assets in South America. There is also a set of generic Q&As, which is being expanded to include stakeholder-specific Q&As. The ESA Employee Memo (May 8) is also being modified. Phase III--With the IM out, CAs signed and data rooms open, we should begin to implement parts of the Communication Rollout Plan to demonstrate the strength/success of the business strategy, limit speculation and provide greater sense of certainty to important stakeholders. The activities that we can undertake now, include: ? Contact lists--Develop comprehensive contact lists of all audiences/stakeholders. Include names, addresses, phone, fax,, and email. Put into Excel format. Identify who internally "owns" each list. ? Speaking platforms--Develop list of speaking opportunities to introduce Enron's business model and announce our regional strategy. ? Audience communications mapDevelop a matrix that details the specific communications strategy for key stakeholder audiences. It should cover: ? Timing: when should this audience be communicated with, e.g., before public announcement, simultaneous with public, etc. ? Form: what form should the communication take, e.g., written, face-to-face, e-mail, conference call, employee meetings, etc. ? Content: what is the message to be delivered ? Responsibility:who,s responsible for creating communication; who within company will deliver communication ? Communications training/message delivery preparation -- Key company spokespeople need to be prepared to delivery the strategic messages regarding transactions, but also to deftly handle difficult questions from employees, analysts, customers and the media regarding the company's ultimate plans for the region. It will be essential that all spokespeople are delivering the same message and are well prepared for difficult situations. ? Fact sheets on individual assets ) The information can be pulled from the IM. Developing fact sheets on each asset will enable them to be packaged in any combination-- depending on the ultimate transaction. ? Vision pieceThe existing white paper on company strategy would be revised to explain the rationale behind the strategy, future expectations for the region, and intentions regarding employees and customers. ? Press kit shell: Press release ) can be drafted with blanks for key details Fact sheet on deal (template) ) assets involved; background on buyer/seller; costs and sales terms; employees; customer base; revenue Asset fact sheets (see above) Vision (see above) Information buyer Information on Enron/ESA ? Q&A ) There are certain questions that will need to be answered regardless of the situation; a master set of Q&A can be developed and then be broken up and used as needed depending upon situation and audience. Employee Issues What happens to employees? Will employees lose their jobs? If so, how many? What if I don,t want to work under the new owner? What role will Jim and Diomedes play following sale? Customer & Business Partner Issues How will customers be affected by transaction? How will ESA business partners be affected? Do business partners have any say in whether transaction should go forward? Approval Process Who has to approve the sale? What is the regulatory/approval process? How long will this take? Enron and ESA Strategy What happens to ESA? What business will you be in, in South America? Will Enron repeat this process in other parts of the world? What happens if not all of ESA assets are sold? Financial Implications What is the total anticipated price for all of the assets? How much of company,s holdings does this represent? What is the impact on shareholders? How will the money be reinvested? I would appreciate feedback on the proposed workplan, so I can make the appropriate changes and begin completing the above tasks. Diomedes, I know that you and Mark are super busy, but I,m available to meet with you at your convenience. It would also be extremely valuable for me to reinitiate the TA support from Sue Garman. I,ve kept her posted on developments, so she,s prepared to &hit the ground running.8 Lastly, Mark, with so many of the rollout activities involving HQ, I would like a chance to discuss how to organize a team effort to accomplish the many and varied activities. Regards, Keith
Citigroup And Oracle Strike Marketplace Deal -- COMPANIES TEAM TO OFFER INTEGRATED PAYMENT SERVICES ON BUSINESS-TO-BUSINESS EXCHANGES 11/20/2000 Citigroup is extending its reach as a provider of financial services to business-to-business marketplaces. The $82 billion company has struck a deal with Oracle to integrate its payment and financial-settlement services into the vendor's online marketplace platform, Oracle Exchange. In addition, Citigroup will co-brand and market OracleExchange.com, Oracle's trading exchange for business supplies, to business clients and deploy Oracle's E-procurement applications internally to simplify its own purchasing. Citigroup already offers its services, called CitiConnect, to rival marketplace companies i2 Technologies Inc. and Commerce One Inc. CitiConnect supports complex financial transactions, such as employee procurement-card purchases, electronic funds transfers, and cross-border payments, for businesses participating in exchanges, whether or not they're Citibank customers. Other financial companies target-ing this market include Chase Manhattan Bank Corp. and First Union Corp., which have partnerships with online marketplace software provider Metiom Inc.; Wachovia Corp. has aligned with Clarus Corp.; and ABN Amro, Bank of America, and US Bank have payment-services deals with Ariba Inc. "We see the role of banks in this space increasing as more commerce occurs online," says Ann Cairns, global E-solutions head at Citigroup's E-business unit. "The key thing that we bring in working with technology companies is an understanding and intellectual capital around security and privacy issues." But Cairns says few transactions occur on exchanges today. Most are building their marketplaces, she says. It may be a while before integrated payment services gain traction. A recent survey by AMR Research revealed that companies participating in exchanges are still most interested in product and vendor search capabilities, order status and tracking, and integration with partners. RetailExchange .com Inc., a business-to-business exchange for excess consumer goods, is working on integrated credit services with commercial finance firm CIT Group Inc. It plans to add shipping and payment services eventually, but says large companies already have departments with expertise in those areas. Says Ken Frieze, president and CEO of RetailExchange.com, "add-on transaction services have to be better and have a greater value proposition than what's available offline." ___________________________________________________________ o CheMatch.com Lays Off 8 Employees But Expects More Funding HOUSTON -- CheMatch.com, a marketplace for buying and selling bulk commodity chemicals, plastics, and fuel products, said it laid off 8 employees, reducing its workforce to 85. The company, which withdrew its IPO in October, also said it expects new funding before the end of the year from investors that include its original backers. CheMatch is backed by Battery Ventures, Bayer, Computer Sciences Corp., E.E. DuPont de Nemours & Co., Methanex, Millennium Chemicals, H. Muehlstein & Co., Reed Elsevier, Sprout Group, Stolt-Nielsen, and TownsendTarnell. http://www.chematch.com/ ________________________________________________ o Lockheed Spin-off TeraConnect Raises $40 Million Round One NASHUA, N.H. -- Optical component company TeraConnect said it completed its spin off from Lockheed Martin company Sanders with a $40 million first round funded by Goldman Sachs, Kodiak Venture Partners, and Spectrum Equity Investors. The company said it will use the funding for further product development. Kodiak Venture Partners managing general partner Dave Furneaux is chairman of TeraConnect's board of directors. TeraConnect develops optical components for router, server, and telecommunications infrastructure markets. Telephone 603-885-2988. _____________________________________________ o Data Communication Firm Bravida Lands $33 Million Series B PALO ALTO, Calif. -- Bravida, a developer of data communications infrastructure products, said it received $33 million in its Series B round of funding, led by Patricof & Co. Ventures. Advanced Technology Ventures, Anila Fund, i-Hatch Ventures, Onset, and St. Paul Ventures also participated. Michael Duran of Patricof & Co. and Moses S. Joseph from Anila Fund will join the company's board of directors. The company will use the funds for product development and to expand its staff. http://www.bravidacorp.com/ _____________________________________________ o HyperTrust, Hosted Security Firm, Has $1 Million Funding LEUVEN, Belgium -- HyperTrust, which is developing a hosted platform for secure communications and transactions based on digital signatures, said it raised EUR 1.24 million ($1 million) in its first funding. Investors in the round included Belgian business accelerator AdValvas Group and IT-Partners. The company said it will use the funding to continue its product development. HyperTrust rents secured infrastructure space to customers with a guarantee of security measures. Sir Martin Lagauw of AdValvas Group and Stefaan Nicolay of IT-Partners will both take seats on the company's board of directors. http://www.hypertrust.com/ _____________________________________________ o E-Payment Firm Trintech Buys Globeset for $31 Million SAN MATEO, Calif. -- Trintech, a publicly-traded provider of electronic payment infrastructure technology, said it has acquired another e-payment firm, Globeset, and all of its intellectual property rights to its software products. Globeset was acquired for $10 million in stock, $21 million in cash, and the assumption of liabilities. Globeset is backed by Compaq, CitiGroup, Deustche Bank, Chase Manhattan, American Express, and individual investors. http://www.trintech.com/ http://www.globeset.com/ _____________________________________________
Please call him. From: Kathleen Carnahan 11/07/2000 09:49 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: Re: Draft CA for curves You got it. Did Gregg happen to mention which legal entity of Peoples is using the confidential information? I can call him if you want me to. I'll make the first set of changes right now and wait to hear from you about the length of the effective period. K- Kay Mann 11/07/2000 09:43 AM To: Kathleen Carnahan/NA/Enron@Enron cc: Subject: Re: Draft CA for curves Kathleen, Please change the first paragraph as follows: ENA is prepared to furnish you with certain risk analysis information which is either confidential, proprietary or generally not available to the public ("Confidential Information") in connection with ENA,s disclosure to PERC and/or enovate for its performing independent risk analysis relating to of the portfolio of enovate, L.L.C., a Delaware limited liability company. Such information may include (but not be limited to) and for PERC,s evaluation of daily curves such as price, basis, index, volitility and interest rates as they relate to the operations of enovate, L.L.C. As a condition to furnishing Confidential Information, PERC and ENA each agree to the following: As for the paragraph 7, I've asked Gregg if the disclosures will be one time, or ongoing. If the disclosures will be ongoing, we may want to rethink the effective period to make it two years from the last disclosure. Gregg also needs a resoluting regarding signing authority, but I've left him a voice mail asking for more information. Thanks, Kay From: Kathleen Carnahan 11/06/2000 09:13 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: Draft CA for curves Attached is a draft of the CA for Peoples based on Gregg Penman's information below. Gregg says he also wants some language to be included regarding audit rights. I did not include this language because I'm not sure how to word it (and I could not find an example). By the way, I used another People's CA I got from Ed's directory as an example because it seemed to fit better than the one I got from you on Friday. Gregg wanted some pretty specific reference to the confidential data being supplied to Peoples, and most of the examples I reviewed were more general. Please let me know what I need to change. Kathleen This is the example I used: ---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 11/06/2000 09:02 AM --------------------------- To: Kathleen Carnahan/NA/Enron@Enron, Kay Young/HOU/ECT@ECT cc: Subject: Draft CA for curves Kathleen, We have forms for confidentiality agreements. All CA's are processed through Kay Young, as she maintains the data base. Kay, could you point Kathleen to the repository of the forms so that she can generate the first draft? By the way, I've assembled the emails I received on changing the form. I'll be happy to take a crack at the revisions if you tell me which form to start with. I know it will have to be processed through before it becomes standard. Thanks, Kay ---------------------- Forwarded by Kay Mann/Corp/Enron on 10/24/2000 08:56 AM --------------------------- From: Gregg Penman on 10/23/2000 10:28 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: Draft CA for curves Kay - We have previously discussed the idea of a CA to specifically cover the curves. We need to put this at the top of the list for this week. Can you prepare a CA for the distribution of enovate curves to specific individuals at Peoples? I would like it to read as follows: Basis and Index curves will be provided daily for all points at which enovate has a position, whether hedged or open, to specific individuals employed in the risk management area. (Individuals should be named on a schedule). Curves are being provided for the express purpose of independent risk analysis of the enovate portfolio by Peoples Risk Management personnel. In return, the specific individuals will not forward, copy, or otherwise distribute the curves to any individual not on the approved schedule. No communications, written or verbal, will be made to any person other than the enovate GM or the Enron designated enovate risk committee member regarding any aspect of the curves. I need some language regarding audit rights, but this should get you started. Call me to discuss. Gregg ---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 11/06/2000 09:02 AM --------------------------- From: Gregg Penman on 11/01/2000 03:13 PM To: Kathleen Carnahan/NA/Enron@Enron cc: Kay Mann/Corp/Enron@Enron Subject: CA for enovate Kathleen - As we discussed, here is a high level overview of what I am trying to accomplish. Purpose: Employees and representatives of Peoples Energy will be provided information related to the operations of enovate, L.L.C. that is necessary or appropriate to review the accuracy of data and verify that the operations and controls set forth in Section VIII of the enovate, L.L.C. Risk Management Policy are being properly implemented and followed. Information may include forward curves such as price, basis, index,volatility and interest rates to the extent they relate to the operations of enovate, L.L.C. Restrictions: All information provided is deemed confidential. Information provided may only be used for the purpose mentioned above. None of the provided information may be distributed or communicated to any person who is not subject to the confidentiality agreement. Call me with any questions you may have. Thank you for your assistance. Gregg
TAKE A LOOK AT THESE FOR ME. THANKS. -----Original Message----- From: Denetsosie, Troy Sent: Friday, February 22, 2002 8:33 AM To: Sewell, Doug Cc: McMichael Jr., Ed; Zisman, Stuart; Coffey Jr., Jim; Parks, Joe Subject: FW: FW: AEP Refunds - Legal Opinion Doug, Are the cash committee's activities in some way monitored by the court? If so, then we can likely proceed with the payment. If not, how do we proceed in the manner proposed below? I will work with accounting to determine if there are any offsetting liabilities. -----Original Message----- From: [email protected]@ENRON Sent: Friday, February 22, 2002 12:54 AM To: Gray, Barbara N. Cc: Denetsosie, Troy; [email protected] Subject: Re: FW: AEP Refunds - Legal Opinion My view is that we cannot return this without court approval. I assume that the funds paid into Company 1647, HPLR -- Division of 0058 were swept into Enron Corp.'s centralized cash accounts. Given the cumulative size of these payments, I don't think we should go forward without court apporval. Also, a financial examiner has just been appointed at ENA to review the cash management and cash flow between ENA and Corp. I wouldn't want to allow this payment to go out right before the examiner gets started. In addition, are we certain that Exxon doesn't owe ENA or Corp any amounts due and owing? If it does, I think that further complicates the analysis. Brian, if you disagree, let me know; but as it stands, we would need court approval to return these funds. Thanks. "Gray, Barbara N." <[email protected]> on 02/20/2002 04:14:53 PM cc: "Denetsosie, Troy" <[email protected]> Subject: FW: AEP Refunds - Legal Opinion Melanie, same request as prior email....Many thanks, Barbara > -----Original Message----- > From: Denetsosie, Troy > Sent: Wednesday, February 20, 2002 3:22 PM > To: Gray, Barbara N. > Cc: Sewell, Doug; Coffey Jr., Jim > Subject: RE: AEP Refunds - Legal Opinion > > Barbara, > > In reply, I send the following document which provides a summary of the Exxon misdirected funds. > > > <<Exxon Refund Summary.doc>> > Please contact me if you have further questions or require documentation. > > Troy > > -----Original Message----- > From: Gray, Barbara N. > Sent: Wednesday, February 20, 2002 1:46 PM > To: Denetsosie, Troy > Subject: RE: AEP Refunds - Legal Opinion > > Troy, if you need an "opinion, I will need to forward all the facts related to the 2 transactions in question....please provide them separately via email and I will arrange for a Weil lawyer to opine on each situation. Regards bng > > -----Original Message----- > From: Denetsosie, Troy > Sent: Wednesday, February 20, 2002 10:42 AM > To: Gray, Barbara N. > Subject: RE: AEP Refunds - Legal Opinion > > Barbara, > > Can you refer me to someone with Weil, Gotshall? This is a follow-up to my voice mail. > > Thanks. > > -----Original Message----- > From: Sewell, Doug > Sent: Tuesday, February 19, 2002 4:50 PM > To: Denetsosie, Troy > Subject: RE: AEP Refunds - Legal Opinion > > Thanks, Troy. Dave Gorte wants an opinion from Weil, Gotshall specifically > -----Original Message----- > From: Denetsosie, Troy > Sent: Tuesday, February 19, 2002 4:33 PM > To: Sewell, Doug > Subject: AEP Refunds - Legal Opinion > > Doug, > > I called and left a message with Barbara Gray, ENA Legal. I asked her who I can contact in order to get an opinion regarding the El Paso and Exxon refunds to AEP. > > I have not heard back from her yet, but I will get you an opinion as soon as possible. > > Troy ******************************************************************** 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. ******************************************************************** (See attached file: Exxon Refund Summary.doc) ---------------------------------NOTE----------------------------------------- The information contained in this email message is intended only for use of the individual or entity named above. If the reader of this message is not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by email ([email protected]), and destroy the original message. Thank you ============================================================================== - Exxon Refund Summary.doc
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
Alan -- Not sure if the West Desk is interested in Demand Bidding issues with the ISO, but wanted you to loop around with the commercial people to see if there are any specific problems with the current ISO programs. Please communicate any issues with Harry Kingerski. Jim ----- Forwarded by James D Steffes/NA/Enron on 03/26/2001 08:33 AM ----- Harry Kingerski 03/23/2001 04:00 PM To: Neil Bresnan/HOU/EES@EES, Jay Ferry/HOU/EES@EES, Fred L Kelly/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Jubran Whalan/HOU/EES@EES, Dennis Benevides/HOU/EES@EES cc: Leslie Lawner/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, James D Steffes/NA/Enron@Enron Subject: FW: Demand Bidding Legislation (what used to be AB31X- Wright) We are working to get demand bidding into CA legislation (AB31X). The ISO wants from us our laundry list of issues of why their existing programs are inadequate. This is a great opportunity to influence them. Neil and Jubran, could you give us your specific issues and suggestions? Jay and Fred, any suggestions would be great from you also. We will set up a call for Monday at 4 pm CST to discuss and will get phone number out to you. Thanks. ----- Forwarded by Harry Kingerski/NA/Enron on 03/23/2001 03:50 PM ----- MDay <[email protected]> 03/23/2001 03:37 PM To: "'Harry Kingerski'" <[email protected]>, "'Jim Steffes, Enron'" <[email protected]>, "'Leslie Lawner, Enron'" <[email protected]>, "'Sandi McCubbin Enron SF'" <[email protected]> cc: "'Jeff Dasovich Enron SF'" <[email protected]>, "'Scott Govenar, Enron lobbyist'" <[email protected]>, "'Sue Mara at Enron SF'" <[email protected]>, "'Bev Hansen, Enron lobbyist'" <[email protected]>, "'Hedy Govenar, Enron Sacto lobbyist'" <[email protected]> Subject: FW: Demand Bidding Legislation (what used to be AB31X- Wright) Here is a note from Mike Florio of the ISO Board. This is encouraging, he wants to talk further about how the ISO programs can be changed to accomplish what we want. What would be most helpful is an item by item analysis by EES (read: Harry and his people) as to why the existing or proposed ISO programs are inadequate (or why we need to have 31X amended to have the ISO do programs for direct access customers parallel to the utility programs in 31X.) I need this information soon in order to keep the dialogue going with Florio. Thanks for your help. Mike Day -----Original Message----- From: Mike Florio [mailto:[email protected]] Sent: Wednesday, March 21, 2001 7:51 PM To: MDay Subject: Re: Demand Bidding Legislation (what used to be AB31X- Wright) Just to show how up to speed I am, I thought that the ISO was already planning to do this. Their presentation on demand programs at the last board meeting showed a scheduling coordinator option and a UDC option, with different billing and settlement provisions for each. But it's hard for me to judge what is adequate (and user-friendly) and what is not absent some expert help. I'm definitely interested in the concept and have no great faith in utility management of programs of this nature. Let's pursue. MIKE P.S. In his own inimitable way, Dan Richard "offered" me the ORA job way back when. I said: "Gee, Dan, I thought we were friends!" When he acted all surprised and hurt in that way of his, I reminded him that Marty Lyons and Mark Loy come with the turf. End of discussion. At 05:05 PM 3/21/2001 -0800, you wrote: >Mike: > >I wanted your reaction to a proposal we were making in response to the >Wright 31X bill on demand bidding programs. We strongly support these >programs, and feel that ESPs can bring a lot of benefit to the program by >aggregaring customers, educating them on the benefits of bidding "Negawatts" >and helping to meter and verify their load reductions. We are certain that >we could help enroll more customers in the program than if the utilities >alone were in charge. So, we proposed language for 31X which allowed ESPs >to aggregate customers in the utility day ahead and hour ahead programs, and >proposed an additional day ahead program based on economic value, (not >reliability criteria, like reserve margins). > >The utilities and the large customers wanted to clarify that we would not >include direct access customers in the utility programs, because of the odd >funding source (reductions from the amounts paid to DWR). We agreed with >the concept, we don't want to fund demand reduction programs for Direct >Access customers through DWR payments, but we also feel strongly that there >should be similar non-discriminatory demand reduction programs for all types >of customers, including DA. So we came up with the idea of inserting >language in the bill to require the ISO to institute demand bidding programs >which match the ones mandated in the bill for the IOUs. I gave our >suggestion to Robin Larson, and I don't imagine you've seen it yet, but >would you give me your reaction to the basic concept? I looked at the ISO >website and tried to evaluate the demand bidding programs already in >place--with a limited amount of understanding, but Enron's business folks >indicated that they did not consider the existing programs to be the >equivalent of what the utilities will be implementing. If that is so, how >about putting similar programs in place so we can actively market and >encourage all customers to bid their negawatts (especially the economic, bid >and contract in advance deals) so that the ISO can count on the demand >reductions in advance of a day's operations? > >I await your response. > >I am so sorry you are not the next ORA director, I was certain you would be >appointed to that, too. (gallows humor) > >Mike Day
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.
So how does he have 3 then? -----Original Message----- From: Buchanan, John Sent: Friday, October 19, 2001 10:26 AM To: Mercaldo, Vernon; Blair, Lynn Subject: RE: Could you please.... Vernon, This function is managed in the Contract system so I spoke to Karen Brostad and her answer is 2 persons. John Buchanan -----Original Message----- From: Mercaldo, Vernon Sent: Friday, October 19, 2001 9:54 AM To: Blair, Lynn; Buchanan, John Subject: FW: Could you please.... John, Please let me know if it is 2 or 5. He may be mistaken on which report he is getting. -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Friday, October 19, 2001 9:51 AM To: Mercaldo, Vernon Subject: RE: Could you please.... Vernon: I think the number is really five since we have 3 people already on the email list. I will start working on the internal email list, but can you confirm we can have more than two and likely five. It seems like since we have 3 this is more than 2 and the five people is likely. Let me know and thanks for the attention. Greg \|--------+---------------------------> \| \| "Mercaldo, \| \| \| Vernon" \| \| \| <Vernon.Mercaldo@\| \| \| enron.com> \| \| \| \| \| \| 10/18/01 11:49 AM\| \| \| \| \|--------+---------------------------> >----------------------------------------------------------------------------\| \| \| \| To: Greg Hathaway/WP/VANCPOWER@VANCPOWER \| \| cc: Hillary Dryselius/WP/VANCPOWER@VANCPOWER, Jason J \| \| Lewis/WP/VANCPOWER@VANCPOWER, Mark J DeCarlo/WP/VANCPOWER@VANCPOWER, \| \| Stacy Lee/WP/VANCPOWER@VANCPOWER, "Blair, Lynn" \| \| <[email protected]> \| \| Subject: RE: Could you please.... \| >----------------------------------------------------------------------------\| Greg, This notice can only be sent to two email addresses. I think we should try the internal routing address like you suggested. Let us know what that address is and we'll get you set up. Thanks! Vernon -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, October 18, 2001 8:52 AM To: Mercaldo, Vernon Cc: [email protected]; [email protected]; [email protected]; [email protected] Subject: Could you please.... Vernon: We get this report from your operations group and I was wondering if you could please forward this request to the correct person for the addition of a couple of people. I think there is a limit so please let me know how many people can be on the list and we might be able to create an internal address that would forward to each of us. Here are the people that need to be on the list: [email protected] on the email [email protected] on the email [email protected] I believe on the list [email protected] not on the list [email protected] not on the list [email protected] not sure if she is on the list [email protected] not sure on the list, but for weekend notices Thanks Greg ----- Forwarded by Greg Hathaway/WP/VANCPOWER on 10/18/01 09:41 AM ----- \|--------+-----------------------> \| \| [email protected]\| \| \| \| \| \| 09/05/01 \| \| \| 10:14 AM \| \| \| \| \|--------+-----------------------> >----------------------------------------------------------------------- -----\| \| \| \| To: [email protected] \| \| cc: \| \| Subject: SchdQty,20010905,NNG,784158214 \| >----------------------------------------------------------------------- -----\| Contract: K# 107706 K# 107727 K# 107707 GasDate: September 5, 2001 Cycle: Non Grid AM *****K# 107706 **** Nom. Rec. Qty: 45499 Nom. Del. Qty: 45499 Sch. Rec. Qty: 45070 Sch. Del. Qty: 45070 Rec. Diff: 429 Del. Diff: 429 ***K# 107727 **** Nom. Rec. Qty: 0 Nom. Del. Qty: 3896 Sch. Rec. Qty: 0 Sch. Del. Qty: 3543 Rec. Diff: 0 Del. Diff: 353 ***K# 107707 **** Nom. Rec. Qty: 45894 Nom. Del. Qty: 45894 Sch. Rec. Qty: 45541 Sch. Del. Qty: 43143 Rec. Diff: 353 Del. Diff: 2751 ****************************************************************** 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. ********************************************************************
The bottom of this page has a traveler profile. When you have a minute please fill it out to have your profile updated. I'll fax it in for you. If the information changes in the future i.e. credit card, I can go in and change it. Since I'm now your local travel agent this will assist me in booking further reservations through the ClickTrip program. slb -----Original Message----- From: Lee Ann Hinson <[email protected]>@ENRON Sent: Wednesday, January 16, 2002 2:44 PM To: Lee Ann Hinson Subject: Travel Services While recent events have dramatically impacted Enron's travel volume, Alliance Worldwide (formerly Travel Agency in the Park) wanted to contact you regarding the Enron Travel Program. Since 1984, our company has been a strategic business partner with Enron and has provided a complete scope of services from booking, ticketing, ticket delivery, customer service, reporting, management of ClickTrip, to facilitating preferred vendor arrangements with airlines to benefit Enron. These services have been provided on a management fee basis from Alliance to Enron. As of December 1, 2001 the management fee has been suspended during Enron's period of reorganization. We are continuing to provide the turnkey travel services to Enron and forego the management fee and simply charge a time of ticketing fee per ticket. To provide you with a brief history of our arrangement, Enron and Alliance approached the airlines a couple years ago and negotiated deep upfront discounts for Enron's business travel. These discounts are available only through Alliance and are given at time of ticketing. All commissions were stripped from the price of the discounted ticket and returned to Enron, in exchange for Enron paying Alliance a contracted management fee. This management fee was paid monthly and allocated back to each Enron cost center based on the total number of transactions. This travel program provided Enron over $8.6 million in airline savings on $55 million spent in the year 2000 and over $5.2 million on $33 million spent for the first 3 quarters of 2001. These savings are after the payment of the travel agency management fee. The effect that the reduced travel volume will have on discounts provided by the airlines cannot yet be determined. We have contacted the airline companies and most of Enron's preferred carriers have agreed to extend the contracts through April 2002. You may utilize these discounts through Alliance by calling 713 650-8080 or 1 800 962-0248. In March, Enron and Alliance will begin evaluating Enron's volume and travel patterns, and determine any changes that are to be made to the discounts or fee structure. As mentioned earlier, Alliance is implementing a time of ticketing fee in lieu of a management fee. These fees are reimbursable to Enron employees through normal expense report procedures. Specifically, the new fee structure is based on zero-commission contracts for tickets purchased from Enron's preferred carriers. The fee schedule for all airline tickets for Enron travel is as follows: $30 - Domestic tickets with or without upfront discount $30 - International tickets without upfront discount 25% of Savings, capped at $175 - International tickets with upfront discount $15 - Southwest Airlines and ClickTrip Reservations, Hotel/Car Only Bookings The savings to Enron on a per ticket basis more than covers the nominal fees that are charged. For example, Enron's average ticket prices are $589 domestic and $2207 international (after discounts). Enron's average savings are $144 domestic and $587 international (before fees). The savings are more than three times the per ticket fee! If you are accustomed to booking your own travel online, you may continue to do so by booking through ClickTrip. ClickTrip is the only online booking tool that allows access to Enron's negotiated discounts. Ticketing through ClickTrip also bears a smaller fee of $15 if no agent assistance is necessary. There is no charge to look at schedules. ClickTrip is available 24 hours a day and may be accessed through Enron's intranet site <http://travel.enron.com> or via the Internet site <http://www.resassist.com/enron/>. ClickTrip is also a useful tool for checking flight schedules or for checking upgrade status. To check upgrade status or to review a ticketed itinerary, simply click the Check My Trip button on the ClickTrip home page and fill in your name and Amadeus locator number (provided at the top of your itinerary). A user log-in may be obtained by contacting Alliance at 713 328-5100. If your office location, phone number or any profile information has changed, please notify us by return email. A profile form is attached if you prefer to fax the information to Alliance at 713 328-5600 or if you are a new traveler wishing to set up a profile. We at Alliance are proud of our 17 year association with Enron and dedicated to ensuring you of the best possible service at the most economical price for all of your travel needs. We have a highly trained and experienced staff working on Enron's account and we look forward to providing you with continued service for years to come. If you have any questions regarding any of the changes mentioned, or wish to discuss specific details relating to your corporate travel policies, please call me 713 328-5139, or email [email protected] <mailto:[email protected]>. Sincerely, Lee Ann Hinson Director Account Management 713 328-5139 [email protected] <mailto:[email protected]> <<>> - TravelerProfileEnron.doc
Kay, 10/10 works for me at 4:00. If that date doesn't work, would you please include my assistant, Twanda Sweet, on the distribution, given that I will be out at the law conference for the rest of the day and tomorrow? Thanks. Michelle From: Kay Chapman 10/05/2000 11:44 AM To: Andrea Yowman/Corp/Enron@ENRON, Bob Sparger/Corp/Enron@Enron, Tim O'Rourke/Corp/Enron@Enron, Ted C Bland/HOU/ECT@ECT, Daniel Brown/NA/Enron@Enron, Tana Cashion/NA/Enron@ENRON, Rhonna Palmer/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT, Marla Barnard/Enron Communications@Enron Communications, Pam Butler/HR/Corp/Enron@ENRON, Michelle Cash/HOU/ECT@ECT, Brian Schaffer/Corp/Enron@ENRON, Suzanne Brown/HOU/ECT@ECT, Robert Jones/Corp/Enron@ENRON, Neil Davies/Corp/Enron@ENRON, Gerry Gibson/Corp/Enron@Enron cc: Jo Ann Matson/Corp/Enron@ENRON, Sarah A Davis/HOU/ECT@ECT Subject: Re: Mission Impossible - HR Associate Groups Recommendation and next steps Seems that tomorrow isn't good. How does Tuesday October 10th @ 4:00 pm sound ? Kay 3-0643 From: Sarah A Davis on 10/05/2000 11:29 AM Sent by: Robbin Stewart To: Kay Chapman/HOU/ECT@ECT cc: Subject: Re: Mission Impossible - HR Associate Groups Recommendation and next steps Sarah will be on vacation tomorrow. Kay Chapman 10/05/2000 11:08 AM To: Andrea Yowman/Corp/Enron@ENRON, Bob Sparger/Corp/Enron@Enron, Tim O'Rourke/Corp/Enron@Enron, Ted C Bland/HOU/ECT@ECT, Daniel Brown/NA/Enron@Enron, Tana Cashion/NA/Enron@ENRON, Rhonna Palmer/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT, Sarah A Davis/HOU/ECT@ECT, Marla Barnard/Enron Communications@Enron Communications, Pam Butler/HR/Corp/Enron@ENRON, Michelle Cash/HOU/ECT@ECT, Brian Schaffer/Corp/Enron@ENRON, Suzanne Brown/HOU/ECT@ECT, Robert Jones/Corp/Enron@ENRON, Neil Davies/Corp/Enron@ENRON, Gerry Gibson/Corp/Enron@Enron cc: Daniel Brown/NA/Enron@Enron, Tana Cashion/NA/Enron@ENRON, Cindy Olson/Corp/Enron@ENRON, David Oxley/HOU/ECT@ECT Subject: Re: Mission Impossible - HR Associate Groups Recommendation and next steps Could you please let me know your availability for the meeting David is requesting. Tomorrow, Friday, October 6th looks good for us. If you are booked for tomorrow, early next week is our next option. Please call me or email at your earliest convenience so we can get this meeting setup before all our calendars get full. Thanks in advance for your quick response. Kay 3-0643 David Oxley 10/05/2000 10:20 AM To: Gerry Gibson/Corp/Enron@Enron cc: Andrea Yowman/Corp/Enron@ENRON, Bob Sparger/Corp/Enron@Enron, Tim O'Rourke/Corp/Enron@Enron, Ted C Bland/HOU/ECT@ECT, Daniel Brown/NA/Enron@Enron, Tana Cashion/NA/Enron@ENRON, Rhonna Palmer/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT, Sarah A Davis/HOU/ECT@ECT, Marla Barnard/Enron Communications@Enron Communications, Pam Butler/HR/Corp/Enron@ENRON, Michelle Cash/HOU/ECT@ECT, Brian Schaffer/Corp/Enron@ENRON, Suzanne Brown/HOU/ECT@ECT, Robert Jones/Corp/Enron@ENRON, Neil Davies/Corp/Enron@ENRON Subject: Re: Mission Impossible - HR Associate Groups Recommendation and next steps I notice my calender doesn't yet seem to have this meeting scheduled. I will ask Kay Chapman (since Rhonna has now deserted me!) to help put a time together. Drew/Mary, FYI sorry I didn't get a chance to send you this before. Let me know if you want to attend, happy to have you there. Gerry, can you help me put an agenda together so that everyone knows what we are looking to achieve here. In broad terms I am looking to do the following: Update all on project we set HR Associate group and their recommendations Discuss their recommendations and look at any refinements or ideas we think we should also incorporate (see my thumb nail sketch notes inspired by Associate group below). Reaffirm commitment to take this project forward and agree: Team for doing so Resources and timimg Methodology for agreeing final version. My ambition is that we (but in particular Andrea, Bob, Gerry, Tim, Tana, Dan, Neil, myself and possibly Suzanne if she can given the work she had already done in this area) all agree to contribute to this and get it done without the need for a formation of a new team or group. Obviously everyone welcome to participate. Tana/Dan, Can you cicruclate a summary of your teams proposals to this group so we they can review before meeting. Could you also agree within your team who you would like to attend this meeting (I would suggest 2 or 3 of you attend rather than all). Thanks David David Oxley 09/26/2000 11:38 AM To: Andrea Yowman/Corp/Enron@ENRON, Bob Sparger/Corp/Enron@Enron, Gerry Gibson/Corp/Enron@Enron, Tim O'Rourke/Corp/Enron@Enron, Ted C Bland/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT cc: Daniel Brown/NA/Enron@Enron, Tana Cashion/NA/Enron@ENRON, Rhonna Palmer/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON Subject: Mission Impossible - HR Associate Groups Recommendation and next steps Rhonna, Please arrange a meeting later this week for all of those addressed by this message (Vince, it would great if one of your team could attend since we will need some heavy statistical and analytical help to complete this project). The prupose of the meeting will be to discuss and delegate next steps required to implement the HR Associate groups recommendations for the development of an HR "value index" at Enron. I would anticipate we will need approx 45minutes. David
-----Original Message----- From: Bhatia, Randy Sent: Wednesday, November 21, 2001 8:55 AM To: Gossett, Jeffrey C.; Keiser, Kam; Jones, Brad; O'Rourke, Ryan; Pehlivanova, Biliana Subject: FW: DYN($42/sh)/ENE($7/sh) Merger At Risk. - Simmons and Company latest thoughts got this from a friend at dynegy. written by someone at Simmons & Co., Inc. To: Sales Trading 11/21/01 07:42 cc: AM Subject: DYN($42/sh)/ENE ($7/sh) Merger At Risk. SUMMARY: We are reducing our estimated probability that the DYN/ENE merger is completed to less than 50%/50% based on our belief that ENE's existing wholesale and retail businesses are having a difficult time maintaining their volumes and margins. We have discussed ENE's need to improve counter party confidence on a number of occasions over the last few weeks, and we believe counter party confidence deteriorated further based on the information included in the 10Q, and the strong negative reaction in the stock and bond markets yesterday. The tone of our discussions with competing traders and marketers (representative of ENE's counter parties--which are critical in maintaining ENE's volumes) is becoming more negative. While ENE is continuing to confirm that volumes are improving since the lows on November 9, our market intelligence is suggesting improment has stalled. In addition and probably related, ENE's liquidity position seems to be continuing to deteriorate despite significant recent capital infusions. We are reducing 4Q01 estimates to reflect lower volume and margin assumptions. What would get us more comfortable? ENE 8K disclosure confirming higher volume and decent margins (ENE has committed to provide 4Q guidance by early-mid December, and/or a change in the tone of the counter parties that would suggest they are increasing trading activities with ENE. OPINION ON THE STOCKS: ENE. No change in our opinion on ENE--the upside potential is simply not worth the downside risk. DYN. DYN is likely to benefit in almost all outcomes. If our concerns about counter party confidence prove to be wrong, the upside associated with the accretion in the transaction would likely be huge. However, we sense DYN is getting frustrated by continued restatement of earnings, unexpected debt triggers and worse than expected liquidity problems. If the transaction falls apart, DYN would have some transaction costs that would negatively impact cash flow in the near-term, but DYN would benefit from gaining market share and hiring some of ENE's talent away longer term. A potential downside case for DYN is that DYN retrades the deal on recent information, but is forced to reduced its flexibility to terminate the transaction through material adverse change considerations, this out come would concern us. We continue to believe DYN is a solid long-term holding for investors. However, we are recommending caution with new money, due to our belief that DYN still has $5/sh to $7/sh of "deal" premium factored into the current stock price which could be at risk if the deal fails. We do not believe DYN has significant accounts receivable exposure to ENE in the event the ENE has further liquidity problems (we believe DYN's trading agreement with ENE limits exposure to maybe $100 to $150 MM). COUNTER PARTY INCENTIVES: ENE identified in its 10Q that transaction volume (especially long-term transactions) have declined since the 3Q. If you are a utility or industrial customer, why enter into a long-term transaction with ENE? Why not go directly to DYN or diversify with other suppliers? If you are a natural gas or power producer, why create the account receivable risk? If you are a counter party, strategically why would you contribute to the continuation of the ENE machine--to the ultimate benefit of strengthening another competitor (DYN)? We believe that ENE is offering attractive financial incentives (premium purchases and/or discounted sales) to entice counter parties to trade with them. However, this would also suggest ENE margins may be getting squeezed. EPS ESTIMATES (new/old/consensus): 4Q01-$0.20/0.35/0.42, FY01-$1.55/1.70/1.78, FY02-$1.50/1.50/1.90 We are reducing expectations for margins in the Wholesale segment from 9cts/mmbtu to 7cts/mmbtu--negatively impacting 4Q EPS by 10cts/sh. In addition, we expect contributions from Enron Energy Services will be lower due to challenges in closing long-term transactions (much of EES's earnings are mark-to-market recognition of the value created in long-term agreeements) impacting our estimate by 5cts/sh. ***************************************************************************************************** This e-mail is based on information obtained from sources which Simmons & Company International believes to be reliable, but Simmons & Company International does not represent or warrant its accuracy. The opinions and estimates contained in this e-mail represent the views of Simmons & Company as of the date of the e-mail, and may be subject to change without prior notice. Simmons & Company International, its partners and/or employees may have positions in the securities discussed. Simmons & Company International may make a market in the securities discussed and may have served as a financial advisor and/or underwriter to companies discussed. Simmons & Company International will not be responsible for the consequence of reliance upon any opinion or statement contained in this e-mail. This e-mail is confidential, and may not be reproduced, in whole or in part, without the prior written permission of Simmons & Company International.
Jim -- Is this what you want for your executive update? CURRENT FERC INITIATIVES: RTO Meetings and Comments to NOPR: The RTO meetings will be held in Washington from October 15-19, and Steve Walton from Enron will make a presentation on transmission planning and expansion. Comments will be submitted to FERC in mid-November regarding the appropriate market design for RTOs. In addition, the Commission stated that RTOs would not be required to begin on the Order No. 2000 start date of December 15, 2001; however, all public utilities are now required to commit by December 15, 2001 to join a FERC-approved RTO or lose their market based rate authority. Standards of Conduct NOPR: Several issues are raised in this proceeding, including a proposal to apply the standards of conduct to a utility's marketing affiliate buying and selling power to serve native load. This is a significant action for FERC and we will strongly encourage the Commission to adopt this bold proposal. Comments are due late November. ICAP Inquiry: Chairman Wood has indicated that he is not very familiar with capacity and reserve requirements, whether they are needed, and what impact such requirements have on the market. Enron has been a strong opponent of ICAP for many years, and we plan to show FERC that ICAP requirements are not needed. We will submit expert testimony on this issue. Comments are due October 17. California Audit and West wide Price Cap Mitigation: Commissioner Brownell is leading a FERC audit of the California ISO. Although we do not have details of what the audit is intended to cover or how expansive it will be, we need to carefully monitor this proceeding and have input into the audit process where possible. Furthermore, a request for rehearing is pending before the Commission regarding the current price cap mitigation measures. The Commission implemented these caps in an effort to limit price spikes in California. California's summer peaking season is over, but the Pacific Northwest's winter peaking season will be starting soon, and the mitigation measures currently in effect could discourage power sellers from selling power to the Northwest, where it will be needed this winter. Transmission Constraint and Energy Infrastructure Issues: FERC staff is studying two significant transmission constraints - California's Path 15 and the Central East Interface in New York -- and plans to have the study completed later this year. The Commission plans to forward the study to DOE. The Commission stated that this is a high priority for it. In a relating proceeding, the Commission has stated that it will hold four open meetings in different regions of the country to identify energy infrastructure issues. Revised Public Utility Filing Requirements: The Commission has issued a NOPR proposing to require market participants to provide more information than is currently required, including at least seven additional data points per transaction. This will have a significant administrative burden on Enron and will require the disclosure of commercially sensitive information. Enron filed comments on October 5. California Refund Proceeding: The Commission has ordered power sellers to pay refunds for sales made to the California ISO from October 2, 2000 through June 20, 2001, and has established a hearing proceeding to resolve issues of material fact. Hearing will be held in mid-December. Pacific Northwest Refund Proceeding: The Judge in this proceeding issued an initial decision recently finding that refunds are not warranted in the Pacific Northwest. We expect a Commission order shortly. Midwest/Alliance RTO Proceeding: Various filings are pending before the Commission regarding establishment of two RTOs in the Midwest - the Alliance RTO and the Midwest RTO. Enron is advocating, consistent with the Commission's recent pronouncements, one single RTO in the Midwest. The Commission is expected to act on these filings by the end of October. Northeast RTO Proceeding: Mediation to create a single Northeast RTO has concluded and the Judge's report is pending before the Commission. Enron filed comments advocating a NE RTO based on the PJM congestion management system with a proposed start date of December 15, 2002 (PJM has proposed an implementation date of November 2003). Commission action is expected on or before October 31. Southeast RTO Proceeding: Mediation to create a single Southeast RTO has concluded and the Judge's report is pending before the Commission (advocating an independent transco structure for the RTO and an LMP/financial transmission rights congestion model). Enron filed comments in support (and advocating a December 2002 start date). Commission action is expected on or before October 31. West -wide RTO Proceedings: The Commission stated that it wants the proposed Desert Star RTO and RTO West to "marry up" into one RTO. It appears that the Commission will treat California separately. The Desert Star RTO has collapsed and the transmission owners are now proposing a "transco" structure. Commission action is expected later this year. Interconnection proceeding: The Commission is expected to address interconnection issues (with standardized procedures and agreements likely) at its meeting on October 11. Enron has strongly advocated standardized procedures and will participate in the proceeding. Market Based Rate Authorization: The Commission is expected to address procedures for qualifying to sell power at market based rates, which may include an assessment of localized generation in a particular region ("supply margin assessment"). The Commission is also considering adding tariff language that could make market based rates subject to refund upon date of a complaint or finding by FERC of market abuse.
As a follow up to my message last week on charges for Analysts, I am attaching the file that Financial Operations used to charge your RC with the $6,400 in monthly costs that I detailed below. I have received a few calls and E-mails stating that some reclasses need to be made because you no longer have an analyst in your group. The information used by Financial Operations to charge your RC was obtained from the Org Database. Please review the attached files for January and February to ensure that the proper RC was and is going to be charged. If you have any corrections, please contact Brian Heinrich at Ext. 5-7677 ASAP since journal entries will need to be processed by this Friday, March 3rd. If you have any questions, please call me. I just want to let everyone know that it is important that we continue to keep the Org Database updated as changes are made. It is and will continue to be the source of headcount information for Energy Operations. Thank you for your continued support in this process. Lisa Cousino x3-6343 --------------------- Forwarded by Lisa B Cousino/HOU/ECT on 03/01/2000 06:52 PM --------------------------- Brian Heinrich 02/28/2000 01:44 PM To: Lisa B Cousino/HOU/ECT@ECT cc: Subject: AA Headcount Lisa, This is the file we used for January, and the one for February. Brian Lisa B Cousino 02/24/2000 01:13 PM To: Kristin Albrecht/HOU/ECT@ECT, Thresa A Allen/HOU/ECT@ECT, Evelyn Aucoin/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Diane H Cook/HOU/ECT@ECT, Kathryn Cordes/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Michael Eiben/HOU/ECT@ECT, Thomas Engel/HOU/ECT@ECT, Hunaid Engineer/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, Scotty Gilbert/HOU/ECT@ECT, Carolyn Gilley/HOU/ECT@ECT, Sheila Glover/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Donna Greif/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Jeff Harbert/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Susan Harrison/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Carrie Hollomon/HOU/ECT@ect, John Jacobsen/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Roy Lipsett/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT, Michael E Moscoso/HOU/ECT@ECT, Gary Nelson/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Eugenio Perez/HOU/ECT@ECT, Scott Pleus/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Dorothy Ricketts/HOU/ECT@ECT, Stephen P Schwarz/HOU/ECT@ECT, Russ Severson/HOU/ECT@ECT, George Smith/HOU/ECT@ECT, Mary M Smith/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Jefferson D Sorenson/HOU/ECT@ECT, Martha Stevens/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT, Melissa White/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Bennett Kaufman/HOU/ECT@ECT, Kimberly S Olinger/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT cc: Brian Heinrich/HOU/ECT@ect, Jennifer Blay/HOU/ECT@ECT, Kimberly Perkins/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT, Marvia Jefferson/HOU/ECT@ECT, Sandra R McNichols/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT, Alex Saldana/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Gretel Smith/HOU/ECT@ECT, Heather Choate/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT, Julissa Marron/Corp/Enron@ENRON, Kelly Templeton/Corp/Enron@ENRON, Lisa Shoemake/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT, Lynn Tippery/HOU/ECT@ECT, Ragayle Pellum/HOU/ECT@ECT, Rosalinda Resendez/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON, Patti Thompson/HOU/ECT@ECT Subject: Monthly Charges for Analysts on your RC report I wanted to let all of you know how you will be charged for Analysts if you currently have or will have one in your RC for the year 2000. The analyst program is being handled differently than it was in 1999. In addition to the normal salary, benefits and payroll taxes, you will also be charged an overhead administration fee for the program. You will be charged the following MONTHLY amounts for each analyst in the Detail Class code that I have indicated below: Detail Class Description Amount 1 Salaries and Wages $4,000 552 Benefits 774 557 Payroll Taxes 360 820 Corporate Services 1,266 Total MONTHLY Cost $6,400 The $4000 amount represents an average of all analyst salaries and does not indicate what the analyst in your RC is paid. This amount will not change in February as the $4000 already includes merit raise information for 2000. The $1266 represents the overhead costs of administering the program, including campus recruiting and office visits. When you look at your RC report, you will see a line item labeled "A and A Reclass" in each of the Detail Classes identified above. Enron North America is invoiced by Corp. for the costs of all analysts. Financial Operations makes a manual Journal Entry each month to charge the appropriate RC. Please check your January 2000 RC report and make sure you were properly charged for the correct number of analysts you have currently. If there are any errors, please let me know as soon as possible so that I can work with Brian Heinrich to have it corrected in February. Please continue to check your RC report each month going forward. Thanks. If you have any questions, please call me. Lisa Cousino x3-6343
Please join me and the Global Accounting leadership team in congratulating the following individuals on their promotions to: To Managing Director Sally Beck (EWN) Fernley Dyson (EEL) To Vice President Beth Apollo (ENW) Janine Juggins (EEL Tax) Phillip Lord (EBS) Laura Scott (ENA) Chris Sherman (ENA) Wade Stubblefield (EES) To Senior Director Buddy Aiken (EEL) Jim Coffey (ENA) Donette Dewar (Intl. Tax) Patricia Dunn (NEPCO) Mark Frank (ENA) William Gehle (EECC) Joseph Grajewski (EECC) Jan Johnson (Corp) Scott Mills (ENW) James New (EEL) Mary L. Ruffer (ENA) Richard Sage (EEL) Elaine Schield (Corp) Kevin Sweeney (ENW) Beth Wapner (EBS Tax) Director Thresa Allen (ENW) Ron Baker (Corp) Misty Barrett (EES) Jeff Blumenthal (EWS) Trey Cash (Corp Tax) Karen Choyce (Corp) Cheryl Dawes (ENA) Lanette Earnest (EWS Tax) Jeffrey Gossett (ENW) Robert Guthrie (ETS Tax) Susan Helton (ENA) Ralph Jaeger (EEL) Andrea Kerch (EEL) Faith Killen (ENA) Johnna Kokenge (Corp) Matt Landy (EEL) Andy Lawrence (ISC) Connie Lee (EBS) Caroline Lothian (EEL) Meg Malone (Corp Tax) Gary Peng (Corp) Stephen Schwarzbach (Corp) Sally Seelig (EES Tax) Don Shackley (EES/London Tax) Patricia Shannon (Corp) Eddie Sikes (Intl. Tax) Jeffrey Smith ( EGM) Ron Smith (GSS) Kim Theriot (ENW) Hope Vargas (ENA) Tina Ward (EEL) Stephen Whitaker (EEL) Stacey White (ENW) Rob Wilcott (Corp) To Manager Christopher Abel (ENW) Stacey Aune (ENA) David Baumbach (ENW) Maya Beyhum (ENW London) Patricia Bloom (ENA) Matthew Brown (ENW) Vince Cacaro (ISC) Clara Carrington (ENW) Carol Carter (ENA) Carolyn Centilli (ISC) Erin Copeland (EECC) Richard Cross (ENW) Rachel Davis (Corp) Michael Desbiens (ISC) David Dupre (ISC) Eileen Flanagan (EEL) Regina Figueroa (ISC) Rebecca Ford (ENW) Darron Giron (ENW) Julie Goodfriend (International Tax) Karen Gruesen (ENA) Kevin Hall (EEL) Kristen Hanson (ENW) David Horne (ISC) Larry Hunter (ENW) Todd Hunter (EES) Jim Ischy (GSS) Chris Jones (ISC) William Kasmervisz (ENW) Kam Kaiser (ENW) Kedar Kulkarni (ISC) Monica Lande (ENW Portland) Suzanne Lane (EEL) Vince Mack (ISC) David Maxwell (ENW) Emitra Nelson (ISC Caroline Nugent (EWS Tax) Mark Pope (ISC) Yiannis Poulopoulos (London Tax) Melissa Ratnala (ENW) Jason Sharp (Corp Tax) Stephanie Smith (Corp) Patricia Spence (ENW) Amy Spode (ENW) Patricia Sullivan (ENW) Lisa Sutton (ETS) John Swinney (ENW) Deana Taylor (Corp) Dimitri Taylor (ENW) Wayne Tencer (EES) Bernella Tholen (ENA) Theresa Vos (ENA) Blake Walker (EECC) Bob Ward (International Tax) David Williams (EEL) To Senior Specialist Amelia Alland (ENW) James Armstrong (ENA) Carmen Ayala (GSS Cynthia Balfour-Flanagan (ENW) Gilda Bartz (Corp) Stacey Brewer (ENW) Marian Briscoe (Corp Tax) Aneela Charania (ENW) Patricia Clark (Corp) Chris Crixell (EES Tax) Diane Ellstrom (ENW) Heidi Griffith (EES) Marla Hernandez (ISC) Marlene Hilliard (ENW) Dave Hollick (London Tax) Rachel Jones (EEL) Dawn Kenne (ENW) Harry Kent (EWS Tax) Blanca Lopez (ENA) Brian Hunter Lindsay (EEL) Rachel Lyon (EEL) Stacy Hardy (ENA) Sally McAdams (ISC) Kelly McCain (Corp Tax) Errol McLaughlin, Jr. (ENW) Sylvia Martinez (ISC) Kevin Meredith (ENW) Meredith Mitchell (ENW) Winnie Ngai (Corp Tax) Thien-Huong Ngo (ENW) Brian Palmer (ENW) Bich Ann T Pham (ENA) Shelly Pierson (Corp) Lillie Pittman (ISC) David Rae (ENW) Dixie Riddle (ETS Tax) Salvador Dominguez (Corp) Mark Schrab (ENW) Stephanie Sever (ENW) Danielle Shafer (ISC) Shifali Sharma (ENW) Keith Simper (ENA) Christopher Spears (ENW) Caron Stark (ISC) Tara Sweitzer (ENW) David Vandor (ENA) Mary Womack (ISC) David Yang (International Tax) Sabrae Zajac (ENW) To Specialist Kim Chick (EES Tax) Justin East (EEL) Joey Esperance (International Tax) Randi Howard (ISC) Melanie Hutchinson (EWS Tax) Mary Joseph (Corp Tax) Sherri Kathol (International Tax) Lex Lacaze (International Tax) Michelle LeBlanc (Corp Tax) Ling Li (EWS Tax) Kori Loibl (ENW) Alan Marsh (Corp Tax) Bruce Mills (ENW) Erika Moore (EEL) Matthew Motsinger (ENW) Sherry Meyers (ISC) Andrea Price (Corp Tax) Bernice Rodriguez (ENW) Tina Salinas (EES Tax) Brent Vasconcellos (Corp Tax) Brandi Wachtendorf (ENW) Patryk Wlodarski (ENW London) To Entry Specialist Stuart Sheldrick (EEL) To Accountant I Becky Klussman (Corp) To Accountant II Silvia Shelby (Accounts Payable) To Staff Mary Behn (EES) Guy Freshwater (ENW London) Geralynn Gosnell (ENW) Richard Miley (ENW) Brent Storey (ENW London) Stuart Thom (ENW London) Judith Walters (ENW) Jonathan White (ENW London) Joan Winfrey (ENW) To Senior Tax Analyst Emily Allwardt (International Tax) Leon Branom (EBS Tax) Shanna Husser (EES Tax) Shilpa Mane (Corporate/London Tax) Todd Richards (Corp Tax) Michelle Thompson (Corp Tax) To Sr. Administrative Assistant Norma Chavez (International Tax) Sarah Knott (ENW London) To Sr. Travel Administrator Cheryl Slone (GSS ) To Administrative Coordinator Heather Choate (ENW) Kayla Heitmeyer (GSS) To Senior Clerk Angela Barnett (ENW) Matthew Davies (ENW London) Daniela De Lisi (ENW London) Rufino Dorteo (ENA) Mark Pilkington (ENW London) Narjinder Sandhu (EEL) Howard Sweasey (EEL) Laura Vargas (ENW) Jo Ann Woods (Corp Tax) To Intermediate Clerk Maria Maldonado (Accounts Payable) Araceli Mondragon (Accounts Payable) Irma Rodriguez (Accounts Payable) Bernita Sowell (Accounts Payable)
I only got 6 right? ---------------------- Forwarded by Shanna Husser/HOU/EES on 11/28/2000 03:27 PM --------------------------- Christina Barthel 11/28/2000 03:22 PM To: Lynna Kacal/Corp/Enron@ENRON, Amy Jon/HOU/ECT@ECT, Stacy Gibson/HOU/ECT@ECT, Shanna Husser/HOU/EES@EES, Kim Chick/HOU/EES@EES, Angie Ramirez/HOU/EES@EES, Dara M Flinn/HOU/EES@EES, Kimberly Ketchum/NA/Enron@Enron, Chris Ochoa/NA/Enron@Enron, Khristina Griffin/NA/Enron@Enron, Kathy Fink/Corp/Enron@ENRON, "Meredith" <[email protected]>, "Erin" <[email protected]>, "Kelly Kohrman" <[email protected]> cc: Subject: Fwd: QUIZ OF THE AGES i got to many of these right....scary ---------------------- Forwarded by Christina Barthel/HOU/EES on 11/28/2000 03:19 PM --------------------------- Haylie <[email protected]> on 11/28/2000 03:11:15 PM To: Christina Barthel <[email protected]>, Angela Haley <[email protected]>, David Miller <[email protected]>, Jeanie Miller <[email protected]> cc: Subject: Fwd: [Fwd: [Fwd: QUIZ OF THE AGES]] I only got #1,2,4, and 21 right. Ha ha ha > > "How Old Are You REALLY?????" > > ------------------------------ > > (The answers are at the end, but don't > cheat!!!!!!!!!!!) > > > > 1. Name the 4 Beatles. > > > > 2. Finish the line: "Lions and Tigers and Bears, > ______ _____!" > > > > 3. "Hey kids, what time is it?" _____ ______ ____ > _____. > > > > 4. What do M&M's do? ___ ___ ___ ___, ____ ____ > ____ ____ > > > > 5. What helps build strong bodies 12 ways?______ > _______. > > > > 6. Long before he was Mohammed Ali, we knew him as > _______ ______. > > > > 7. You'll wonder where the yellow went, ____ ____ > ____ ____ ____ ____ > ____." > > > > 8. Post-baby boomers know Bob Denver as the Skipper's "little buddy." But we know that Bob Denver is actually Dobie's > closest friend, _____ G. > > _____. > > > > 9. M-I-C, .... See ya' real soon, .... K-E-Y, > _____? ____ _____ _____ > _____! > > > > 10. "Brylcream: ____ ____ ____ ____ ____ _____." > > > > 11. Bob Dylan advised us never to trust anyone > _____ _____. > > > > 12. From the early days of our music, real rock 'n > roll, finish this > line: > > "I wonder, wonder, wonder...wonder who ____ ______ > _____ _____ _____ > ____?" > > > > 13. And while we're remembering rock n' roll, try > this one: > > "War...uh-huh, huh, ...yea; what is it good for? , > ____ _____." > > > > 14. Meanwhile, back home in Metropolis, Superman > fights a > > never-ending battle for truth, justice, and _____ > ____ _____. > > > > 15. He came out of the University of Alabama, and > became one of > > the best quarterbacks in the history of the NFL. > He later went on > > to appear in a television commercial wearing > women's stockings. > > He is Broadway _____ _______. > > > > 16. "I'm Popeye the sailor man; I'm Popeye the > > sailor man. I'm strong to the finish, ____ _____ > ____ ___ > > ______, .... I'm Popeye the sailor man." > > > > 17. Your children probably recall that Peter Pan > > was recently played by Robin Williams, but we will > always > > remember when Peter was played by ______ _______. > > > > 18. In a movie from the late sixties, Paul Newman > > played Luke, a ne'er do well who was sent to a > prison camp for > > cutting off the heads of parking meters with a > pipe cutter. > > When he was captured after an unsuccessful attempt > to escape, the camp > > commander (played by Strother Martin) used this > experience as > > a lesson for the other prisoners, and explained, > "What we have > > here, ____ ____ ____ ____ ____." > > > > 19. In 1962, a dejected politician chastised the > press after > > > losing a race for governor while announcing his > > retirement from politics. "Just think, you won't > have ____ ____ to > > kick around anymore." > > > > 20. "Every morning, at the mine, you could see him > arrive; > > He stood six foot, six, weighed 245. Kinda' broad > at the shoulder, > > and narrow at the hip, and everybody knew you > didn't give no lip > > to _____ _____, _____ _____ _____." > > > > 21. "I found my thrill, _____ _____ _____." > > > > 22. ________ ________ said, "Good night, Mrs. > > Calabash, _____ _____ ____." > > > > 23. "Good night, David." "_____ ______, ______." > > > > 24. "Liar, liar, ____ ____ _____." > > > > 25. "When it's least expected, you're elected. > > You're the star today. > > _______! _____ ______ ______ ______." > > > > 26. It was Pogo, the comic strip character, who > > said, "We have met the > > enemy, and ____ ___ ____." > > > > "Answers" > > 1. John, Paul, George, Ringo > > 2. Oh, my! > > 3. It's Howdy Doody Time! > > 4. They melt in your mouth, not in your hand. > > 5. Wonder Bread > > 6. Cassius Clay > > 7. when you brush your teeth with Pepsodent > > 8. Maynard G. Krebbs > > 9. Why? Because we like you. > > 10. A little dab'll do ya. > > 11. over 30 > > 12. who wrote the book of love > > 13. Absolutely nothin' > > 14. the American way > > 15. Joe Namath > > 16. "cause I eats me spinach" > > 17. Mary Martin > > 18. is a failure to communicate > > 19. Richard Nixon > > 20. Big John, Big Bad John > > 21. On Blueberry Hill > > 22. Wherever you are. > > 23. Good night, Chet. > > 24. pants on fire > > 25. you're on Candid Camera > > 26. he is us > > "Scoring" > > 24-26 correct - 50+ years old > > 20-23 correct - 40's > > 15-19 correct - 30's > > 10-14 correct - 20's > > 0- 9 correct - You're, like, sorta a teenage dude > > > > > > > > __________________________________________________ Do You Yahoo!? Yahoo! Shopping - Thousands of Stores. Millions of Products. http://shopping.yahoo.com/
Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 06/20/2001 10:33 AM ----- Minal Dalia@EES 06/19/2001 12:08 PM To: Susan J Mara/NA/Enron@ENRON cc: Subject: Re: Proposed Decisions of the CPUC on PX Credit and Suspending Direct Access Susan, Can you please add me to your distribution list for news pertaining to CA. Thank you Minal Susan J Mara@ENRON 06/18/2001 03:43 PM To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT, Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Douglas Huth/HOU/EES@EES, Edward Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Gayle W Muench/HOU/EES@EES, Ginger Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES, Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, [email protected], Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Richard L Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert Badeer/HOU/ECT@ECT, Rosalinda Tijerina/HOU/EES@EES, Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES, [email protected], Susan J Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S Bradford/HOU/ECT@ECT, Jubran Whalan/HOU/EES@EES, [email protected], Richard B Sanders/HOU/ECT@ECT, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected], [email protected], Donna Fulton/Corp/Enron@ENRON, [email protected], Bruno Gaillard/EU/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Ren, Lazure/Western Region/The Bentley Company@Exchange, Michael Tribolet/Corp/Enron@Enron, Phillip K Allen/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, [email protected], Tamara Johnson/HOU/EES@EES, Greg Wolfe/HOU/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Dirk vanUlden/Western Region/The Bentley Company@Exchange, Steve Walker/SFO/EES@EES, James Wright/Western Region/The Bentley Company@Exchange, Mike D Smith/HOU/EES@EES, Richard Shapiro/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Robert Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steve Walton/HOU/ECT@ECT, [email protected], [email protected], Janel Guerrero/Corp/Enron@Enron, Mark Fillinger/SF/ECT@ECT, Jennifer Rudolph/HOU/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, [email protected], Joseph Alamo/NA/Enron@Enron, Tracy Ngo/Enron@EnronXGate, Ray Alvarez/NA/Enron@ENRON, Steve C Hall/ENRON@enronXgate, David Leboe/Enron@EnronXGate, Jay Zoellner/Western Region/The Bentley Company@Exchange, Fatimata Liamidi/HOU/EES@EES, Sonia Perez/HOU/EES@EES, Chris Holmes/HOU/EES@EES, Venkatesh Mani/Western Region/The Bentley Company@Exchange, Richard Crevelt/Western Region/The Bentley Company@Exchange, Dave Perrino/SF/ECT@ECT, Malcolm Adkins/HOU/EES@EES, Kevin Keeney/HOU/EES@EES cc: Subject: Proposed Decisions of the CPUC on PX Credit and Suspending Direct Access Two proposed decisions were issued by hard copy and received today. Jim Steffes' office in Houston has a copy. Both decisions eliminate the requirement that the utilities provide cash refunds to the direct access customers for the negative PX Credit as of Januray 5, 2000. On other points they differ. The decision by Assigned Commissioner Wood is adversarial to direct access and suspends direct access. If adopted, direct access would be suspended July 1, 2001, except for written contracts executed prior to July 1, 2001. On the PX Credit, he says that the cash payment is not required and leaves open the notion that the bill credit would continue. The alternate decision by Commissioner Bilas does not suspend direct access but asks for ideas on how to provide DA given ABX 1 and the concerns of the state's Dept of Finance when providing comments on the draft decision. Bilas has a finding of fact that "direct access is a necessary component of restoration of functional electricity markets." On the PX credit, Bilas' proposed decision would end the cash payment but begin a process to modify the PX credit decision (D.99-06-058) and to adopt a bottoms-up calculation for direct access customers. He asks for comments in 20 days and reply comments in 5 days. With a bottoms-up calculation, direct access customers would pay only wires charges and public purpose charges and pay no charge for power purchases. Comments on the draft decisiona are due next Monday, June 25. Enron and its coalitions will actively support the Bilas alternate and seek the third vote needed to ensure passage. Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854