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---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 03/28/2001
12:00 PM ---------------------------
"Ryan Lee" <[email protected]> on 03/27/2001 05:39:29 PM
To: "Ted Leighty" <[email protected]>, "Pedar Kjesth"
<[email protected]>, <[email protected]>,
<[email protected]>, "JAKE Istnick" <[email protected]>, "David
Shaw" <[email protected]>, <[email protected]>, "Claude.Aldridge"
<[email protected]>, "Chris Tuttle" <[email protected]>,
"Brian Beggs" <[email protected]>, "Ben Abendroth" <[email protected]>,
"Bagby, Joel" <[email protected]>, "Andy Patton" <[email protected]>
cc:
Subject: Fw: What We've Learned From Watching Porn......
SO TRUE!!
?
----- Original Message -----
From: Lee, Ryan
To: '[email protected]'
Sent: Tuesday, March 27, 2001 3:55 PM
Subject: FW: What We've Learned From Watching Porn......
?
-----Original Message-----
From: Williams, Zach
Sent: Tuesday, March 27, 2001 3:39 PM
To: Lee, Ryan
Subject: FW: What We've Learned From Watching Porn......
?
?
Message-ID: <[email protected]>
From: Steve Renz <[email protected]>
To: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected]
Subject: Fwd: What I've Learned From Watching Porn
Date: Tue, 27 Mar 2001 13:21:05 -0700
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
Content-Type: multipart/alternative;
boundary="----_=_NextPart_003_01C0B711.156EBDC0"
----Original Message Follows----
From: "Brett Beezley" <[email protected]>
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: Fwd: What I've Learned From Watching Porn
Date: Tue, 27 Mar 2001 13:08:16 -0600
>From: "Jacob Reimer" <[email protected]>
>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]
>Subject: Fwd: What I've Learned From Watching Porn
>Date: Tue, 27 Mar 2001 12:52:05 -0600
>
>
>
>
>>From: "Robert Fanelli" <[email protected]>
>>To: [email protected], [email protected],
>>[email protected], [email protected], [email protected],
>>[email protected], [email protected], [email protected],
>>[email protected], [email protected], [email protected]
>>Subject: What I've Learned From Watching Porn
>>Date: Tue, 27 Mar 2001 10:06:47 -0500
>>
>>What I've Learned From Watching Porn
>>
>>1.? Women wear high heels to bed.
>>2.? Men are never impotent.
>>3.? When going down on a woman 10 seconds is more than satisfactory.
>>4.? If a woman gets busted masturbating by a strange man, she will not
>>??? scream with embarrassment, but rather insist he have sex with her.
>>5.Women smile appreciatively when men splat them in the face with sperm.
>>6.? Women enjoy having sex with ugly, middle-aged men.
>>7.? Women moan uncontrollably when giving a blowjob.
>>8.? Women always orgasm when men do.
>>9.? A blowjob will always get a woman off a speeding ticket.
>>10. All women are noisy fucks.
>>11. People in the 70's couldn't fuck unless there was a wild guitar solo
>>??? in the background.
>>12. Those tits are real.
>>13. A common and enjoyable sexual practice for a man is to take his
>>??? half-erect penis and slap it repeatedly on a woman's butt.
>>14. Men always groan "OH YEAH!" when they cum.
>>15. If there is two of them they "high five" each other.(and the girl
>>??? isn't disgusted!)
>>16. Double penetration makes women smile.
>>17. Asian men don't exist.
>>18. If you come across a guy and his girlfriend having sex in the
>>??? bushes, the boyfriend won't bash seven shades of shit out of you
>>??? if you shove your cock in his girlfriend's mouth.
>>19. There's a plot.
>>20. When taking a woman from behind, a man can really excite a woman by
>>??? giving her a gentle slap on the butt.
>>21. Nurses suck patient's cocks.
>>22. Men always pull out.
>>23. When your girlfriend busts you getting head from her best friend,
>>??? she'll only be momentarily pissed off before fucking the both of
>>??? you.
>>24. Women never have headaches... or periods.
>>25. When a woman is sucking a man's cock, it's important for him to
>>??? remind her to "suck it".
>>26. Assholes are clean.
>>27. A man ejaculating on a woman's butt is a satisfying result for all
>>??? parties concerned.
>>28. Women always look pleasantly surprised when they open a man's
>>??? trousers and find a cock there.
>>29. Men don't have to beg.
>>30. When standing during a blowjob, a man will always place one hand
>>??? firmly on the back of the kneeling woman's head and the other
>>??? proudly on his hip
>>
>>
>
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com |
I have been attending when I am here. I missed last month's meeting when I was in Seattle.
TK
-----Original Message-----
From: Watson, Kimberly
Sent: Monday, October 22, 2001 4:06 PM
To: Lohman, TK
Subject: FW: Bid Cycle Meeting
TK,
Have you been attending this or is it just NNG? Kim
-----Original Message-----
From: Williams, Jo
Sent: Monday, October 22, 2001 3:07 PM
To: Johanson, Tim; Hook, Connie; Aschwege, Doug; Johnson, Robert L.; Sans Souci, Becki; Barker, Courtney; Barry, Mike; Berg, Vicki; Bolks, Sean; Bollinger, Joni; Bowers, Janet; Branney, Theresa; Brennan, Lorna; Burleson, Bob; Cabrera, Reyna; Cohrs, Allen; Donoho, Lindy; Dushinske, John; Fiscus, John; Fowler, Bill; Gadd, Eric; Gilbert, Steve; Halpin, Tom; Harris, Steven; Herber, Stephen; Hyatt, Kevin; Jones, Dana; Joyce, Jane; Korbelik, Stephanie; Lagerstrom, Karen; Lantefield, Laura; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McCarran, Penny; McGowan, Mike W.; Mercaldo, Vernon; Millar, John; Miller, Kent; Moore, Jan; Neubauer, Dave; Neville, Sue; Oldenhuis, Frank; Paladino, Ranelle; Pavlou, Larry; Penkava, Loren; Powell, Don; Powers, Ken; Pritchard, John; Riehm, Richard; Roobaert, Preston; Sebesta, Chris; Semin, Frank; Stage, Michael G.; Stevens, Bob; Swett, Larry; Thomas, Steve; Threet, Kay; Valley, Lisa; Watson, Kimberly; Weller, Steve; Westfall, Roger; Wilkinson, Chuck; Williams, John; Cappiello, Deborah; McCoy, Julie; Ramirez, Pilar; Robertson, Audrey; Wadle, Susan; Wehring, Linda
Subject: RE: Bid Cycle Meeting
I thought you had gone off the deep end up there in the far north, Tim, and then I noticed Connie's typo on the "Bib" cycle....okay, it is a "Bid" cycle.....
Please be there anyway!!!!
-----Original Message-----
From: Johanson, Tim
Sent: Monday, October 22, 2001 2:34 PM
To: Hook, Connie; Aschwege, Doug; Johnson, Robert L.; Sans Souci, Becki; Barker, Courtney; Barry, Mike; Berg, Vicki; Bolks, Sean; Bollinger, Joni; Bowers, Janet; Branney, Theresa; Brennan, Lorna; Burleson, Bob; Cabrera, Reyna; Cohrs, Allen; Donoho, Lindy; Dushinske, John; Fiscus, John; Fowler, Bill; Gadd, Eric; Gilbert, Steve; Halpin, Tom; Harris, Steven; Herber, Stephen; Hyatt, Kevin; Jones, Dana; Joyce, Jane; Korbelik, Stephanie; Lagerstrom, Karen; Lantefield, Laura; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McCarran, Penny; McGowan, Mike W.; Mercaldo, Vernon; Millar, John; Miller, Kent; Moore, Jan; Neubauer, Dave; Neville, Sue; Oldenhuis, Frank; Paladino, Ranelle; Pavlou, Larry; Penkava, Loren; Powell, Don; Powers, Ken; Pritchard, John; Riehm, Richard; Roobaert, Preston; Sebesta, Chris; Semin, Frank; Stage, Michael G.; Stevens, Bob; Swett, Larry; Thomas, Steve; Threet, Kay; Valley, Lisa; Watson, Kimberly; Weller, Steve; Westfall, Roger; Wilkinson, Chuck; Williams, Jo; Williams, John; Cappiello, Deborah; McCoy, Julie; Ramirez, Pilar; Robertson, Audrey; Wadle, Susan; Wehring, Linda
Subject: RE: Bid Cycle Meeting
Are you serving ribs?
Tim
-----Original Message-----
From: Hook, Connie
Sent: Monday, October 22, 2001 2:31 PM
To: Aschwege, Doug; Johnson, Robert L.; Sans Souci, Becki; Barker, Courtney; Barry, Mike; Berg, Vicki; Bolks, Sean; Bollinger, Joni; Bowers, Janet; Branney, Theresa; Brennan, Lorna; Burleson, Bob; Cabrera, Reyna; Cohrs, Allen; Donoho, Lindy; Dushinske, John; Fiscus, John; Fowler, Bill; Gadd, Eric; Gilbert, Steve; Halpin, Tom; Harris, Steven; Herber, Stephen; Hyatt, Kevin; Johanson, Tim; Jones, Dana; Joyce, Jane; Korbelik, Stephanie; Lagerstrom, Karen; Lantefield, Laura; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McCarran, Penny; McGowan, Mike W.; Mercaldo, Vernon; Millar, John; Miller, Kent; Moore, Jan; Neubauer, Dave; Neville, Sue; Oldenhuis, Frank; Paladino, Ranelle; Pavlou, Larry; Penkava, Loren; Powell, Don; Powers, Ken; Pritchard, John; Riehm, Richard; Roobaert, Preston; Sebesta, Chris; Semin, Frank; Stage, Michael G.; Stevens, Bob; Swett, Larry; Thomas, Steve; Threet, Kay; Valley, Lisa; Watson, Kimberly; Weller, Steve; Westfall, Roger; Wilkinson, Chuck; Williams, Jo; Williams, John; Cappiello, Deborah; Hook, Connie; McCoy, Julie; Ramirez, Pilar; Robertson, Audrey; Wadle, Susan; Wehring, Linda
Subject: RE: Bid Cycle Meeting
The Bib Cycle meeting date is changed from Friday Oct.26th to Wednesday, Oct. 25th at 10:30 a.m. The Houston folks will use Dave Neubauer's office 3963. Omaha folks will use 696.
Jo will initiate the conference call:
Houston 713-853-7240
Mpls 952-887-1789
-----Original Message-----
From: Gracey, Rosemary
Sent: Wednesday, October 17, 2001 11:17 AM
To: Aschwege, Doug; Johnson, Robert L.; Sans Souci, Becki; Barker, Courtney; Barry, Mike; Berg, Vicki; Bolks, Sean; Bollinger, Joni; Bowers, Janet; Branney, Theresa; Brennan, Lorna; Burleson, Bob; Cabrera, Reyna; Cohrs, Allen; Donoho, Lindy; Dushinske, John; Fiscus, John; Fowler, Bill; Gadd, Eric; Gilbert, Steve; Halpin, Tom; Harris, Steven; Herber, Stephen; Hyatt, Kevin; Johanson, Tim; Jones, Dana; Joyce, Jane; Korbelik, Stephanie; Lagerstrom, Karen; Lantefield, Laura; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McCarran, Penny; McGowan, Mike W.; Mercaldo, Vernon; Millar, John; Miller, Kent; Moore, Jan; Neubauer, Dave; Neville, Sue; Oldenhuis, Frank; Paladino, Ranelle; Pavlou, Larry; Penkava, Loren; Powell, Don; Powers, Ken; Pritchard, John; Riehm, Richard; Roobaert, Preston; Sebesta, Chris; Semin, Frank; Stage, Michael G.; Stevens, Bob; Swett, Larry; Thomas, Steve; Threet, Kay; Valley, Lisa; Watson, Kimberly; Weller, Steve; Westfall, Roger; Wilkinson, Chuck; Williams, Jo; Williams, John; Cappiello, Deborah; Hook, Connie; McCoy, Julie; Ramirez, Pilar; Robertson, Audrey; Wadle, Susan; Wehring, Linda
Subject: Bid Cycle Meeting
<< File: BID CYCLE MEETING NOTICE.doc >>
Rosemary Gracey
Marketing - 402/398-7431
[email protected] |
[IMAGE] Forums Discuss these points in the Forums: Forexnews Forum Technicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek Technical Research Ltd. Charts & News featuring Standard & Poor's Interest Rates US: Japan: Eurozone: UK: Switzerland: 1.75% 0.15% 3.25% 4.0% 1.25-2.25% [IMAGE] [IMAGE] Japanese Forex Trading Preview March 4, 7:00 PM: EUR/$..0.8692 $/JPY..132.00 GBP/$..1.4225 $/CHF..1.6994 Japanese Forex Trading Preview by Darko Pavlovic No key data. The yen is trading above 132 vs. the dollar, after reaching a two week highs of 131.85 boosted by a 5.9% or 638 point surge in the Nikkei to a 6-month high of 11,450 due to yen repatriation ahead of the fiscal year end on March 31. If Nikkei continues to rise on Tuesday, which is likely, given the surge in US stocks today (The Dow skyrocketed 2.1% or 217 points to 10586 and NASDAQ rose 3.1% or 56 points to 1859) the yen could strengthen vs. the dollar to a year highs of 130.30. Investors were encouraged by signs that large Japanese banks, such as Mizuho that let construction company Sato Kogyo go bankrupt, were taking steps to address the issue of non-performing loans. Moreover, the Nikkei has been lifted by the government's announcement of more stringent requirements on short-selling stocks last week. Furthermore, investors welcomed news that the Bank of Japan had increased its monetary base by 27.5% in February, in its largest rise since the oil crisis in 1974, reflective of Japan's efforts to address its ailing economy. The Nihon Keizai Shimbun reported that according to 98 company presidents and chairpersons surveyed late last month 70.4% think that structural reforms promised by PM Koizumi are "slightly behind schedule . Some 61.4% cited "elimination of nonperforming loans" as the lagging area of structural reform, and over 90% are unsatisfied with progress made on bad loan disposals. Top officials from banking and life insurance industry groups said Monday that the government should stop the development of the state-run savings and life insurance systems, as they force private financial institutions' operations. A public postal corporation, to be set up in 2003, must watch its innovative plan of balancing the private sectors and bound the area of its operations. January workers' total cash earnings totaled Y302, 118 down 2.3% from a year earlier, according to preliminary data released Monday by the Ministry of Labor, due to the harshness in employment situation and signifying consumer spending could decline further in months ahead. Japanese Economic Minister Takenaka said that bank problems after special inspections would become main issue for Japan govt. Takenaka added that daily stock market price swings should not be yardstick for govt policy and FinMin Shiokawa said would make more effort for specific anti-deflation measures. Shiokawa also said Tokyo stocks won't rise decisively unless economy recovers. USD/JPY support is seen at 132.0, 131.75 and 131.50. Resistance is viewed at 134.0, 134.40 and 134.80. EUR/USD is trading just below 87 cents after rising to a 1-week high of 87.13 after Eurozone business climate indicator climbed to its highest in 5 months to -0.86 in February suggesting an economic recovery is occurring. The EU's Rato noted the presence of signs of an economic pick up in the US and Europe, and thus he expects a recovery to consolidate over the next few months. In the meantime, the EU's Solbes also expressed his expectation for a gradual recovery in the first half of this year, since he believed the Eurozone economy bottomed last quarter. Solbes projected the European economies would post average growth rate of 1.5% in 2002. Upside capped at 87.20, 87.40 and 87.80. Support stands at 86.30, backed by the 86.0-cent figure, and 85.50. Major data due from the US this week consist of factory orders, jobless claims, productivity, consumer credit, and the labor market report. Key Eurozone indicators include the Euroarea Services PMI, Euroarea unemployment, German Services PMI, French Services PMI, Italian Services PMI, Spanish industrial production, German manufacturing orders, German unemployment, ECB rate decision, Italian GDP and Dutch CPI. The main data releases from the UK are the purchasing managers survey for services, the CBI survey of distributive trades, the NTC/FRES report on jobs, housing starts and the Bank of England's rate decision. Highlights from Japan comprise the MoF corporate survey, trade balance, indices of business conditions, GDP, money supply and wholesale prices. [IMAGE] Audio Mkt. Analysis JPY Drags Down USD to 2 1/2 Week Low Articles & Ideas Euro: The Lonely Tender JPY: Koizumi Fails To Deliver Articles & Ideas Forex Glossary Economic Indicators Forex Guides Link Library [IMAGE]
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---------------------- Forwarded by Mark Dana Davis/HOU/ECT on 08/21/2001 08:26 AM ---------------------------
From: John Llodra/ENRON@enronXgate on 08/20/2001 07:54 PM
To: Gautam Gupta/ENRON@enronXgate, Mark Dana Davis/HOU/ECT@ECT
cc:
Subject: FW: Niagara Mohawk - Electric Commodity Outsourcing Conference Call
Attached is a power point presentation (2nd file) outlining the terms of the deal struck between NiMo and Tractebel. It looks like Tractebel has agreed to take the supply portfolio from NiMO at NiMO's cost, and then sell SOS load for a fixed quantity at fixed prices, with any deviations from that quantity priced out at the day-ahead LBMP. Aso involves an index pricing mechanism tied to changes in NYMEX gas prices. Finally, Tractebel is serving the MPS load (i.e., large customers) at a pass through of the day ahead prices. I'll send in seperate emails the actual filing (including redacted contract) and affidavits covering the auction process and results.
-----Original Message-----
From: Sullivan, Kathleen
Sent: Mon 8/20/2001 4:49 PM
To: Llodra, John
Cc:
Subject: Niagara Mohawk - Electric Commodity Outsourcing Conference Call
-----Original Message-----
From: [email protected]@ENRON [ mailto:[email protected]]
Sent: Friday, July 27, 2001 12:10 PM
To: 'William Bouteiller'; 'Robert Garlin'; 'Janet Deixler'; 'Jane Assaf'; 'Gloria Kavanah'; 'Steven Agresta'; Robinson, Thomas G.; 'Joseph Carline'; 'James Peterson'; 'Joseph Cleary'; 'Jim Tripp'; 'Natalie Patisaw'; 'David Wooley'; 'Paul Agresta'; 'Robert Hobday'; 'James Warden'; 'Michael Mager'; 'Robert Loughney'; 'Barbara Brenner'; 'Doreen Saia'; 'Timothy Merril'; 'David Prestemon'; 'Ruben Brown'; 'Sam Laniado'; 'Nicholas Prioletti'; 'Byron Starns'; 'James Bertrand'; 'Steven Pincus'; 'Martha Duggan'; 'George Kazanjian'; Sullivan, Kathleen; 'Matt Picardi'; 'Melissa Lauderdale'; 'Richard Golden'; 'Jeffrey Durocher'; 'William Green'; 'Carl Van Kralingen'; 'Elinor Ducat'; 'Paul Nolan'; 'Sarah Miller'; 'Usher Fogel'; 'Katherine Kennedy'; 'Richard Koda'; 'Chris Wentlent'; 'Chuck Sjoberg'; 'Tom Jesikiewicz'; 'Ben Wiles'; 'Robert Weishaar'; 'Cathy Hughto-Delzer'; 'Frank Miller'; 'Thomas Yurik'; 'Karen Georgenson Gach'; 'Jeffrey Stravino'; 'Glenn Haake'; 'David Johnson'; 'Craig Indyke'; 'Keith Roland'; 'James Fairman'; 'David Koplas'; 'Nancy Cianflone'; 'Catherine Nesser'; 'Jeffrey Genzer'; 'Joshua Sabo'; '[email protected]'; 'Mike Reville'; 'Walter Haase'; 'Michael Darroch'; 'Eli Eilbott'; 'Celeste Smith'; 'Kerin Dumphrey'; 'Carol Smoots'; 'Ilia Levitine'; 'Robert Mullane'; 'Thomas Rudebusch'; 'Robert Ayerst'; 'Ed Frank'; 'John Wicka'; 'Kevin Higgins'; 'Denise Gerbsch'; 'Bob Visalli'; 'Warren Myers'; 'Michael Twergo'; 'David Reulet'; 'Steven Pincus'; 'Lorna Johnson'; 'Jim Peterson'; 'Bob Loughney'; 'Karen Tuczinski'; 'Jeffrey Wagner'; 'Michael Corso'; 'David Wooley'; 'Michael Mager'; 'Whit Russell'; 'Jerrold Oppenheim'; '[email protected]'; 'Theresa Flaim'; 'Gloria Kavanah'; Reilly, Lawrence J.; 'William Glew'; Cochrane, John G.; Fowler, Keith; Lewis Johnson, Sabrina L.; Molloy, James M.; Olton, Laura; Nash, Macdara; Robinson, Thomas G.; 'Stephen Agresta'; Tervo, Judith A.; 'Joseph Ash'; 'William Edwards''; 'Steven Tasker'; 'Sandra Johnson'; 'Scott Leuthauser'; 'Dennis Schafer'; 'Clem Nadeau'; 'Michael Hynes'; 'George Bauman'; Bonner, James J.; Carlton, Jon; '[email protected]'; Conti, Kathleen A.; '[email protected]'; 'Lisa Gast'; 'Bill Mills'; 'Catherin Hedgeman'; 'Jeff Hogan'; 'Doris Stout'; 'Charles Brennan'; 'Cathy Hughto-Delzer'; 'Floyd Hitchcock'; 'Kevin Colwell'; 'Steven Wilson'; 'James Warden'; 'Karen Georgenson Gach'; 'Sarah Miller'; 'Jeff Schnur'; 'Martin Currier'; 'Donald Oliver'; 'Richard Koda'; 'Thomas Primero'; 'Jean McDonnell'; 'Doug Lutzy'; 'Jane Assaf'; 'Richard Golden'; 'Ben Wiles'; 'Nicholas Prioletti'; 'Ruben Brown'; 'Paul Savage'; 'Lyle VanVranken'; 'Michael Salony'; 'Kevin Brocks'; 'Usher Fogel'; 'John Dax'; '[email protected]'; 'Joe Mantaro'; 'Tariq Niazi'; 'Susan Bruce'; 'Barney Farnsworth'; '[email protected]'; 'Michael Cordaro'; 'Nancy Testani'; '[email protected]'; 'Michael Wayand'; '[email protected]'; 'William Saxonis'; [email protected]; [email protected]
Cc: [email protected]
Subject: PSC Case No. 01-M-0075 - Electric Commodity Outsourcing Conference Call
Niagara Mohawk has awarded a contract to Tractebel Energy Marketing Inc.
to manage its electric supply contracts for a term ending Dec. 31, 2006.
This contract is subject to approval by the PSC(a copy of the petition
seeking approval will be provided to the parties when filed with the
Commission).
A conference call to review and discuss this contract will be held with the
parties to the National Grid USA/Niagara Mohawk Merger Proceeding on
Monday, July 30, 2001 starting at 10:00 a.m.
Scott Leuthauser will go through a presentation which is attached below to
be followed by a question and answer period. Also attached below is the
Company's press release announcing the agreement with Tractebel.
Parties who are interested in learning more about how this agreement
relates to the merger proposal are invited to participate in Monday's
conference call.
Please call the following number at 10:00 a.m:
1-888-876-1197
Passcode: 111680#
(See attached file: Tractebel final.doc) (See attached file:
Commodity Outsourcing Prez - sdl Jul 27 01.ppt)
- Tractebel final.doc <<Tractebel final.doc>>
- Commodity Outsourcing Prez - sdl Jul 27 01.ppt <<Commodity Outsourcing Prez - sdl Jul 27 01.ppt>> |
FYI. As part of the computer deal Enron bought me for home, I get these
ads. If there's anything you want (I think the prices are supposed to be
good) let me know. If it looks like complete crap, please let me know that,
too.
----- Forwarded by Jeff Dasovich/NA/Enron on 03/20/2001 06:39 PM -----
"[email protected]" <announcements
03/20/2001 04:17 PM
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INSIDE NYTIMES.COM
The New York Times on the Web, Wednesday, December 13, 2000
______________________________________________________
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-----Original Message-----
From: Lavorato, John
Sent: Wednesday, October 03, 2001 8:57 AM
To: Presto, Kevin M.
Subject: FW: Enpower and EOL Data for October 2nd
I think the west may pass you guys.
-----Original Message-----
From: Belden, Tim
Sent: Wednesday, October 03, 2001 8:56 AM
To: Lavorato, John
Subject: FW: Enpower and EOL Data for October 2nd
We set a new west single book record with 206 trades in STCA. We also set a new desk record with 611 for the day. We launched an 8 hour block day-ahead product yesterday. We have about 20 trades. Ancillary service products are in the work. Still grinding through contract language and EOL.
Did you know that Chris Mallory is an analyst, manages our STCA book, made $14 million in Q3, and is our leading EOL transaction trader? Pretty cool!
Tim
-----Original Message-----
From: Alport, Kysa
Sent: Tuesday, October 02, 2001 6:00 PM
To: DL-Portland Real Time Shift; Alonso, Tom; Badeer, Robert; Belden, Tim; Crandall, Sean; Driscoll, Michael M.; Fischer, Mark; Mallory, Chris; Morris, Jeremy; Motley, Matt; Platter, Phillip; Richter, Jeff; Salisbury, Holden; Scholtes, Diana; Swerzbin, Mike; Williams III, Bill
Cc: Chang, Fran; Dunton, Heather; Law, Samantha; Postlethwaite, John; Warner, Nicholas
Subject: Enpower and EOL Data for October 2nd
EOL Deals From: 10/01/2001 To: 10/02/2001 EnPower From: 10/01/2001 To: 10/02/2001
Desk Total Deals Total MWH Desk Total Deals Total MWH
EPMI Long Term California 59 1,230,400 EPMI Long Term California 15 719,775
EPMI Long Term Northwest 32 535,600 EPMI Long Term Northwest 35 2,400,440
EPMI Long Term Southwest 52 921,375 EPMI Long Term Southwest 54 3,540,513
EPMI Short Term California 373 547,096 EPMI Short Term California 116 373,022
EPMI Short Term Northwest 196 206,250 EPMI Short Term Northwest 101 209,669
EPMI Short Term Southwest 235 443,375 EPMI Short Term Southwest 96 683,895
Real Time 203 5,300 Real Time 80 8,991
Grand Total 1,150 3,889,396 Grand Total 497 7,936,305
EOL Deals From: 10/02/2001 To: 10/02/2001 EnPower From: 10/02/2001 To: 10/02/2001
Desk Total Deals Total MWH Desk Total Deals Total MWH
EPMI Long Term California 31 516,000 EPMI Long Term California 6 266,375
EPMI Long Term Northwest 20 380,000 EPMI Long Term Northwest 17 1,949,622
EPMI Long Term Southwest 26 501,200 EPMI Long Term Southwest 24 2,147,943
EPMI Short Term California 206 250,255 EPMI Short Term California 59 155,562
EPMI Short Term Northwest 111 147,450 EPMI Short Term Northwest 45 102,668
EPMI Short Term Southwest 117 317,100 EPMI Short Term Southwest 54 590,216
Real Time 100 2,725 Real Time 41 4,342
Grand Total 611 2,114,730 Grand Total 246 5,216,728
ICE Volumes From: 10/02/2001 To: 10/02/2001
Delivery Point Total MWH EPMI MWH Price
Mid C (OP, Next Day) 600 0 $ 17.05
Mid C (P, Next Day) 6,000 1,600 $ 23.52
Mid C (P, Bal Month) 67,200 38,400 $ 23.38
Mid C (OP, Bal Month) 7,225 0 $ 18.00
Mid C (P, Nov-01) 30,000 0 $ 25.50
Mid C (OP, Dec-01) 8,600 8,600 $ 26.25
Mid C (P, Dec-01) 10,000 0 $ 33.25
Mid C (P, Mar-02) 10,400 0 $ 27.25
Mid C (P, Q1 02) 30,400 0 $ 30.35
Mid C (P, Q3 02) 30,800 0 $ 42.00
NP-15 (OP, Next Day) 1,200 200 $ 17.14
NP-15 (P, Next Day) 3,200 1,200 $ 26.56
NP-15 (P, Bal Month) 28,800 9,600 $ 24.78
NP-15 (OP, Bal Month) 7,225 7,225 $ 18.25
NP-15 (OP, Nov-01) 24,000 8,000 $ 21.58
NP-15 (P, Jan-02) 10,400 0 $ 33.00
NP-15 (P, Q1 02) 30,400 0 $ 32.25
NP-15 (P, Q2 02) 30,800 0 $ 31.50
NP-15 (P, Q3 02) 30,800 30,800 $ 45.25
NP-15 (P, Q4 02) 30,800 0 $ 35.50
Palo (P, Next Day) 8,400 1,600 $ 25.17
Palo (OP, Next Day) 200 200 $ 14.00
Palo (OP, Bal Month) 14,450 0 $ 15.25
Palo (P, Bal Month) 134,400 0 $ 24.57
Palo (P, Nov-01) 0
Palo (P, Q1 02) 30,400 0 $ 29.00
Palo (P, Jan-02) 31,200 0 $ 28.58
Palo (P, May-02) 10,400 0 $ 31.75
Palo (P, Jun-02) 30,000 10,000 $ 40.25
Palo (P, Aug-02) 21,600 10,800 $ 54.38
Palo (P, Q3 02) 123,200 30,800 $ 50.01
SP-15 (OP, Next Day) 800 200 $ 14.69
SP-15 (P, Next Day) 8,800 2,400 $ 25.65
SP-15 (P, Bal Month) 38,400 9,600 $ 24.63
SP-15 (P, Nov-01) 30,000 0 $ 24.92
SP-15 (P, Dec-01) 30,000 0 $ 28.98
SP-15 (P, Q1 02) 30,400 0 $ 30.50
SP-15 (P, Q3 02) 30,800 0 $ 45.50
SP-15 (P, Q1 03) 30,400 0 $ 35.00
Grand Total 1,002,700 171,225 $ 1,095.19 |
This is the Los Angeles Times article Mark has been working on...
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 Roseann Engeldorf/Corp/Enron on 01/08/2001 03:11 PM -----
Lisa Bills/ENRON@enronXgate
01/08/2001 10:50 AM
To: Mike J Miller/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Ozzie
Pagan/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT
cc: Roseann Engeldorf/Corp/Enron@ENRON, Catherine Clark/ENRON@enronXgate
Subject: RE: Format - Enron Draft MOU
Below are my comments to the attached MOU. I will let Rose Engeldorf correct
my comments, add her own after she reads this.
1. As we told GE when we transferred the existing equipment from WestLB to
TurboPark, TurboPark is the vehicle we will be using to acquire most if not
all future equipment orders.
2. Cover: Turbine Purchase Agreement between E-Next Generation LLC Acting
through its Agent Enron North America Corp. and General Electric Company for
Four ...... - this is the standard we have used with GE under the WestLB
structure. It remains the same except that the Purchaser/Buyer is now E-Next
Generation LLC.
3. Pg 2, first para: Buyer is "E-Next Generation LLC", a Delaware limited
liability company with a principal place of business at Rodney Square North,
1100 North Market Street, Wilmington, DE 1989-0001, Attention: Corporate
Trust Administration. Not sure this is necessary - see 4. below.
4. Pg 2, first para: To match our other existing turbine contracts: "This
Turbine Purchase Agreement ..... is entered into as of the ...... by and
between GE....("Seller") and E-Next Generation LLC ("Buyer"), acting through
its agent Enron North America Corp., a corporation incorporated under the
laws of the state of Delaware, with offices located at 1400 smith Street,
P.O. Box 1188, Houston, TX 77251-1188 ("Agent").
5. Pg 2, second Whereas: For accuracy and only if needed since not in
existing contracts: Replace "Buyer" with "Agent".
6. Pg 2, new Whereas: To clarify relationship between Buyer and Agent,
conforms to existing contracts: "Whereas Buyer has assigned and delegated
certain of its rights, responsibilities and obligations under this Agreement
to Agent and Agent has accepted same assignment and delegations as set forth
in this Agreement."
7. Clause 1, first full para: On last line, please delete "Max" after Dog,
before Projects and delete everything after Projects.
8. Clause 1, (c) - (e): Need to clarify that Agent, on behalf of Buyer,
will be party responsible for negotiating these points with GE.
9. Clause 3 (a): in (2) and (3) need to insert "than" after later.
10. Clause 3(a): in last sentence, (b) and (c) need to be changed to (2)
and (3).
11. Clause 5(b): Cleanup: insert "or" after ";" at end of (2). Insert
"to" after "Parties" in (3). Insert "on" at beginning of (4). In full para.
need to change reference to clause "7" to clause "5". In last full line of
para, "Proposal" is not a defined term and doesn't seem to fit in this
document since this Agreement in clause 8 is all that is to be effective.
12. Signature Line: ENA, as Agent for E-Next Generation LLC.
13. If we are successful, we will need the payment schedules, amounts and
cancellation schedules, amounts for TurboPark allocation.
Please call with any comments.
-----Original Message-----
From: Miller, Mike
Sent: Friday, January 5, 2001 2:57 PM
To: Bills, Lisa; Jacoby, Ben; Pagan, Ozzie; Calger, Christopher
Subject: Format - Enron Draft MOU
Attached below is the standard form GE Term Sheet. Certain items have been
left blank, including price and shipment dates. GE told me that the
$39,970,000 per turbine set number is still the notional price based on the
GenPower Dell scope. This aforementioned scope means that we will need to
purchase an extra static starter ($900,000) and a water wash skid ($150,000)
to take two sets of two turbines and split them up intop three projects
(Longview, Ft Pierce, Fla Peaker). As usual, things like dual fuel ($2 MM),
peaker stacks ($1.5-2MM) and inlet cooling options are scope additions and
are not included in the MSRP. Please get me your comments as soon as
possible to keep the process moving. We can use this term sheet with
business points discussed with GE to get the DASh process moving. Shipment
dates are still uncertain. GE will try and accomadate us with turbines that
will work for combined cycle as well as peakers for summer 2003 start dates.
We will not know what (if any) turbines that we will get until GE goes into
their DASH process next week.
Thanks,
Mike J Miller
---------------------- Forwarded by Mike J Miller/HOU/ECT on 01/05/2001 02:39
PM ---------------------------
[email protected] on 01/05/2001 01:01:05 PM
To: [email protected]
cc: [email protected]
Subject: Format - Enron Draft MOU
Dear Mike
Here the format of an MOU for units, however this is not an offer to sell.
The potential ready to ship dates and pricing have been deleted.
Best Regards
John
John H Schroeder, Jr.
GE Power Systems Account Mgr.
2707 North Loop West, 9th Floor
Houston, Texas 77008
(713) 803-0525
Fax - 0567
> -----Original Message-----
> From: Swift, Stephen L (PS, CommOps)
> Sent: Friday, January 05, 2001 10:37 AM
> To: Schroeder, John H Jr (PS, Sales)
> Subject: Enron Draft MOU
>
> John,
>
> Attached is a typical MOU that we would use with Enron. We are not
> authorized to make any offers to customers until after Tuesday 1/9/01 if
> any units are made available to us. We can circulate this for Enron to
> begin a preliminary review with the understanding this is not an offer to
> sell.
>
> Let me know if you have any questions.
>
> Steve Swift
>
>
>
> <<TPA Rev Draft.doc>>
- TPA Rev Draft.doc << File: TPA Rev Draft.doc >> |
----- Forwarded by Richard B Sanders/HOU/ECT on 02/04/2001 08:49 AM -----
"Fergus, Gary S." <[email protected]>
02/02/2001 08:26 PM
To: "A. William Urquhart (E-mail)" <[email protected]>, "Alan Z. Yudkowsky
(E-mail)" <[email protected]>, "Andrzej Kabarowski (E-mail)"
<[email protected]>, "Arlen Orchard (E-mail)"
<[email protected]>, "Brian Currey (E-mail)" <[email protected]>,
"'[email protected]'" <[email protected]>, "Cliff Gunter (E-mail)"
<[email protected]>, "Davis Smith (E-mail)" <[email protected]>,
"Douglas Butz (E-mail)" <[email protected]>, "Douglas Thorpe (E-mail)"
<[email protected]>, "Elizabeth Sager (E-mail)"
<[email protected]>, "Gary Keltner (E-mail)" <[email protected]>,
"'[email protected]'" <[email protected]>, "Gordon P. Erspamer (E-mail)"
<[email protected]>, "Harry A. Olivar Jr. (E-mail)" <[email protected]>,
"'[email protected]'" <[email protected]>, "Jane Alfano (E-mail)" <[email protected]>,
"Jean Frizzell (E-mail)" <[email protected]>, "Jeffrey D. (Dan)
Watkiss (E-mail)" <[email protected]>, "John Fryer (E-mail)"
<[email protected]>, "John Heath (E-mail)" <[email protected]>,
"John W. Stamper (E-mail)" <[email protected]>, "Ken Irvin (E-mail)"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Michael Helms (E-mail)"
<[email protected]>, "Nancy Loftin (E-mail)"
<[email protected]>, "Paul Fox (E-mail)" <[email protected]>,
"Phillip Fantle (E-mail)" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Richard B. Sanders
Esq. (E-mail)" <[email protected]>, "Richard Beitler (E-mail)"
<[email protected]>, "Richard Josephson (E-mail)"
<[email protected]>, "Ronald Carroll (E-mail)" <[email protected]>,
"Shari Stack (E-mail)" <[email protected]>, "Susan Bishop (E-mail)"
<[email protected]>, "'[email protected]'" <[email protected]>,
"Tim Bolden (E-mail)" <[email protected]>
cc:
Subject: CalPX FERC and Informational Meeting
Prepared in Anticipation of Litigation
Here is the list of counsel that attended today's conference call regarding
public events involving the California Power Exchange Corporation. I
delayed publishing this list until 6:00 p.m. because I kept receiving emails
from interested parties. I also received the following report from John
Stamper at O'Melveny & Myers who represents SEMPRA and San Diego Gas &
Electric.
John had a conversation with Bob Moore from Millbank representing the
California PX. Bob apparently told John that invoices for the chargebacks
will be issued on Monday February 5th and will be due and payable by
Thursday February 8th or Friday February 9th. John asked for February 9th
rather than the 8th. John raised again the possibility of a standstill
agreement. Bob Moore reported that the CalPX was amenable to a standstill
agreement if everybody agreed. They are worried, however, about being sued
for failing to liquidate collateral as soon as they are able etc. John
pointed out that the CalPX might be subject to claims from those entities
that had their letters of credit drawn down improperly. Bob then reported
that the number one option that the CalPX was considering was bankruptcy.
It seems to them to be the one forum where they can get all the parties.
They are also considering dissolution and invoking the ADR procedure
themselves.
We have scheduled a teleconference to discuss the FERC options for 11:00
a.m. PST on Monday February 5, 2001. The call in number is 1-800-205-3434,
participant code: 653687
I have also received a request to schedule an alternative teleconference for
1:00 p.m. PST to consider non-FERC alternatives. This would include
litigation alternatives. We will distribute the dial in number and access
code for that call on Monday morning.
Proposed Agenda for 11:00 a.m. FERC Option Teleconference:
I. Current Status of any proposed filings.
Note: Phil Fantle, in-house counsel for Cargill-Alliant sent me a
copy of a filing they made with FERC on January 29th. I will send a
copy under separate email cover.
II. Discussion of specific relevant examples where CalPX has violated
the tariff with respect to specific PX Participants. The purpose of
gathering these examples is to be able to demonstrate that CalPX is
acting arbitrarily and capriciously if that is case. This could
include identification of specific instances of inconsistent treatment of PX
Participants or inconsistent treatment of the same PX Participant.
For example, Phil Fantle pointed out that the way he reads the
tariff, if you look at the chargeback formula set forth in Schedule 2,
Section 5.3, the ratio for each PX Participant appears to be a fixed number
that does not vary after the default of another PX Participant. In
Phil's example, if a defaulting participant has a 25% share of the gross
MWHs sold in the Core market, during the chargeback process only 75%
of the default is paid through chargeback because there is no provision for
recalculating the chargeback formula.
III. Summary of best arguments of why CalPX application of charge-back is
inconsistent with tariff.
IV. Impact of Governor Davis' "commandeering" of SCE block forward
contracts.
<<Cal PX Contact List.DOC>>
Thanks
Gary
=======================================================
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- Cal PX Contact List.DOC |
ok; will call you in about 15 minutes. I am on with Scott right now & will
see if he is also available.
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Wednesday, February 07, 2001 6:52 PM
> To: [email protected]
> Subject: RE: enhanced stock loan
>
>
> How about 9 am Houston (10 am New York)? Why don't you call me? It
> might
> be helpful for Scott to be available (we could conference him in if
> necessary). Let me know if this works. SS
>
> Sara Shackleton
> Enron North America Corp.
> 1400 Smith Street, EB 3801a
> Houston, Texas 77002
> 713-853-5620 (phone)
> 713-646-3490 (fax)
> [email protected]
>
>
>
>
> "Chernick,
>
> Sharon To:
> "'[email protected]'" <[email protected]>
> Confidential cc:
>
> Memo-Counsel Subject: RE: enhanced stock
> loan
> (Exchange)"
>
> <schernick@be
>
> ar.com>
>
>
>
> 02/07/2001
>
> 05:34 PM
>
>
>
>
>
>
>
>
>
> I will call you in the am. I am free until 11:30 NYT. What works for you?
> Do you want a business person like Scott Talento on the line with us?
>
> > -----Original Message-----
> > From: [email protected] [SMTP:[email protected]]
> > Sent: Wednesday, February 07, 2001 2:44 PM
> > To: [email protected]
> > Subject: Re: enhanced stock loan
> >
> >
> > Sharon:
> >
> > I'm on my way out of the office for an appointment but will be back
> around
> > 4 or 4:30 Houston time. I'd like a quick chat this evening or tomorrow
> > morning (before 11 am Houston, if possible). I understand that the
> > dynamics of this deal were discussed by Russ and Jeff Kinneman/Sheila
> > Glover. The Enron party is Enron North America Corp. ("ENA", formerly
> > named "ECT") and the $25million Enron Corp. guaranty is for the purpose
> of
> > securing payment of the 20%plus margin requirement for illiquid
> > securities
> > held by ENA in its Bear account ("stock loan account"). I'm not sure if
> > other agreements are necessary and I was hoping that we could discuss.
> >
> > Feel free to email or call. Thanks for your help.
> >
> > Sara Shackleton
> > Enron North America Corp.
> > 1400 Smith Street, EB 3801a
> > Houston, Texas 77002
> > 713-853-5620 (phone)
> > 713-646-3490 (fax)
> > [email protected]
> >
> >
> >
> >
> > "Chernick,
> >
> > Sharon To:
> > "'[email protected]'" <[email protected]>
> > Confidential cc: "Talento, Scott
> > (Exchange)" <[email protected]>, "Miron, Russel
> > Memo-Counsel (Exchange)" <[email protected]>
> >
> > (Exchange)" Subject: enhanced stock
> loan
> >
> > <schernick@be
> >
> > ar.com>
> >
> >
> >
> > 02/07/2001
> >
> > 01:17 PM
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Sara:
> >
> > I have made some inquiry and verified that the Bear Stearns Stock Loan
> > enhanced leveraged product is indeed what is under consideration.
> >
> > As promised, I have a brief step-by-step explanation of such a stock
> loan
> > transaction, which is appended to this message. There are actually two
> > possible scenarios: one where cash collateral is used for the stock
> loan,
> > the other where actual securities are used as collateral. We understand
> > that, at least initially, you will be using bonds as collateral.
> >
> > The Stock Loan Agreement is used in connection with our current form of
> > Institutional Account Agreement which ECT may not have signed. I
> > therefore
> > also append that agreement to this message.
> >
> > I expect you waill wnat to review these attachments before we speak
> again.
> > Again, as a reminder, I will be on vacation from Friday the 16th through
> > the
> > following week. If you would like to speak before hand, or if you have
> > any
> > questions regarding any of the documents, please let me know.
> >
> > Regards,
> >
> > Sharon
> >
> > <<Enhanced Stock Loan-explained.doc>>
> >
> > <<IAA_ 9-8-00rev_clean.doc>>
> >
> > (See attached file: Enhanced Stock Loan-explained.doc)
> > (See attached file: IAA_ 9-8-00rev_clean.doc)
> > ***********************************************************************
> > Bear Stearns is not responsible for any recommendation, solicitation,
> > offer or agreement or any information about any transaction, customer
> > account or account activity contained in this communication.
> > ***********************************************************************
> >
> > << File: Enhanced Stock Loan-explained.doc >> << File: IAA_
> > 9-8-00rev_clean.doc >>
>
>
> ***********************************************************************
> Bear Stearns is not responsible for any recommendation, solicitation,
> offer or agreement or any information about any transaction, customer
> account or account activity contained in this communication.
> ***********************************************************************
>
>
>
***********************************************************************
Bear Stearns is not responsible for any recommendation, solicitation,
offer or agreement or any information about any transaction, customer
account or account activity contained in this communication.
*********************************************************************** |
Here is the transcript of the ISO's real-time desk asking Enron real-time
trader Ryan Slinger to help the ISO "set" the market-clearing price ("MCP")
for replacement energy. The ISO wanted Enron to help set the MCP for
replacement energy at $91.86, because the ISO was upset that the MCP had
dropped to a penny, and now market participants were buying the ISO's excess
energy a penny (after having sold it to the ISO for $91 the day before).
There are two phone calls. The first call is the ISO calling to ask us to
help it to set the price. The next call occurs three minutes later and is
the ISO calling because we didn't put in the bid. Our trader told the ISO
that he had to "talk to his boss" because he "didn't want to do anything
wrong."
Note: I have just learned a complicating detail: Coincidentally, our desk
did put in a bid for $91.86 for Hour 18, which was what the ISO had
requested. However, the bid had been formulated before the ISO called our
desk.
Transcription of a telephone conversation between the ISO,s Real Time Desk
and Enron,s Real Time Desk - July 3, 2001, 14:40:50 - 14.43:38
Enron: Enron, this is David [Porter].
ISO: Hi David. This is Allen at the ISO.
Enron: David: Hi Allen. How ya doing?
ISO: Allen: Hold on one sec. I,ve got to get something.
Unknown: Stage one at 11.
ISO: Allen: Hey, I,m on the hour-ahead desk. Did you guys put a bid in?
Enron: David: Yes, hang on one second Allen.
ISO: Allen: Yeah.
Enron: Ryan: This is Ryan [Slinger].
ISO: Allen: Hey Ryan, this is Allen at the ISO hour ahead. Did you guys
put a trade in, replacement [energy]? Not trade, but a bid?
Enron: Ryan: For which hour, for hour 15?
ISO: Allen: For hour 16?
Enron: Ryan: For hour 16, correct.
ISO: Allen: Can you guys continue to put the price at that?
Enron: Ryan: At what? At $91.86?
ISO: Allen: Yes
Enron: Ryan: Um,(.
ISO: Allen: This isn,t on a recorded line, but we wanted to do that because
of some of the things that we are seeing. It would be good to keep it [the
Market Clearing Price for Replacement Energy] at a higher price. It doesn,t
matter how many megawatts you put it at, but we want to clear it at a higher
price.
Enron: Ryan: Wait, you said we,re not on a recorded line, or we are?
ISO: Allen: We,re not. No, we,re not, okay. We already talked to the
day-ahead research guy and myself, but we saw you guys clear at $91 and we
wanted you, if it,s possible, to continue to set that, whether it,s 20 MW or
whatever you want to put in there.
Enron: Ryan: Okay, um(..
ISO: Allen: We want to clear it at that because of some issues we are
seeing as far as others that are taking advantage of the market.
Enron: Ryan: Oh yeah. Because it had been clearing like at $100, hadn,t it?
ISO: Allen: Not replacement.
Enron: Ryan: Oh, not replacement?
ISO: Allen: No. What happened is that we bought it back(.see, the
day-ahead was purchased at like $100 and then what happened is that the
hour-ahead . . .a bunch of these people were buying it back for a penny over
the [inter] ties. They were faking it. So we wanted to keep the price up
high.
Allen and Ryan: Unintelligible.
Enron: Ryan: So they were selling it, oh, in the day ahead, and buying it
back(.
ISO: Allen: Buying like 60 bucks. . . trying to make money off of it, then
basically they are trying to buy it back at a penny.
Enron: Ryan: Oh, that,s ridiculous.
ISO: Allen: That,s really ticking us off and right now . . .
Enron: Ryan: That to me signals, that,s probably Powerex, isn,t it?
ISO: Allen: There,s about four of them right now.
Enron: Ryan: Shit.
ISO: Allen: And for the day-ahead for tomorrow, we didn,t, we didn,t, we
took them out. Basically, we,re not allowing anything over the ties.
Enron: Ryan: I didn,t submit one for 17 or (.
ISO: Allen: That,s fine. They,ll probably go to a penny and they,ll
probably get excited and do a bunch, and we,ll hopefully cut them off if you
can get the next price and the next market at 80 or 91.
Enron: Ryan: Okay. All right. Well, I,ll see what I can do.
ISO: Allen: I appreciate it. It,s actually in the best interest for the
State and the ISO [with] what these guys are doing, so we are trying to put a
stop to it.
Enron: Ryan: Okay.
ISO: Allen. Thanks, bye.
Transcription of a telephone conversation between the ISO,s Real Time Desk
and Enron,s Real Time Desk - July 3, 2001, 14:46:55 - 14:47:40 (3 minutes
later)
Enron: This is Ryan.
ISO: Hey Ryan, its Allen.
Enron: Ryan: Yeah.
ISO: Allen: Hey, did you put it in for the next hour?
Enron: Ryan: For hour 16?
ISO: Allen: Yeah, no, they already ran 17.
Enron: Ryan: Oh, I didn,t do 17, no.
ISO: Allen: Well, see, we,re gonna run, we,re gonna run 18 coming up here
in the next fifteen minutes.
Enron: Ryan: Okay.
ISO: Allen: If you have any questions, let me know. I hope you know this
is me from the ISO. I don,t know if you think I,m somebody else but you can
call me at the hour-ahead desk.
Enron: Ryan: Well, I mean, I,m talking to my boss right now as far as,
because of, you know, I don,t want to be doing anything that,s wrong.
ISO: Allen: Yeah(
Enron: Ryan: Even if it is helping you guys out, if it,s wrong, I can,t do
it.
ISO: Allen: I know, but if you continue to bid in at, um, the market, that,
s the best thing to do. For replacement. All right.
Enron: Ryan: Okay, I,ll see what I can do.
ISO: Allen: Thanks, man. |
Hi, Vince
Just got off the phone with Andy Lewis, a trader for the Midwest. We had so much similarities in terms of orientation, starting from the backroom and moving to the front office. We were on the phone more than an hour at 11:28 pm Texas time (I think an hour and 15 minutes).
I hope that I have addressed his initial reaction that I am overqualified. We shared a few anecdotes, several moments of laughter. There were 18 selected for the phone screen out of the 200+ resumes.
After a deliberation with Andy's colleagues, there will be another set of calls (the schedule has yet to be determined). That is it for now. I will let you know what transpires in the next few days. Hopefully, I can meet you when I'll be given the chance to visit Enron in Houston.
Have a safe trip.
Sincerely,
Yvan
>From: [email protected]
>To: [email protected]
>Subject: RE: Yvan Go from Berkeley
>Date: Mon, 15 Oct 2001 20:58:54 -0500
>
>Yvan,
>
>I am glad it worked. I have referred you to the program.
>
>Let's stay in touch. I am in Argentina and Brazil this week.
>Give me a call with an update in the next few weeks.
>
>Vince
>
> -----Original Message-----
> From: "yvan go" @ENRON
> Sent: Friday, October 12, 2001 11:59 PM
> To: Kaminski, Vince J
> Subject: RE: Yvan Go from Berkeley
>
>
> Vince,
> Let me tell you of a wonderful story. Todd Piekert of the Human
> Resources group informed me last Thursday that I am being considered for
> the trader track program of Enron. They are looking at the possibility
> of putting my skills to good use in the Gas and Power group.
> Adrian, a colleague of Todd is expected to contact me either through
> phone or e-mail to set a phone screen with two of the traders. While I
> am proficient with my currency and fixed income trading skills, I am
> jumpstarting the curve in the Gas and Power business. As you maybe
> aware, there are no futures market in the Philippines but its concept is
> familiar. I am currently reading the Trading Natural Gas by Fletcher
> Sturm and enjoying it. I subscribed to the NGI's Daily Gas Price Index
> to get more perspective.
> Should I pass the screen, I will have to go to Houston for more
> interviews. I am sincerely thankful to you. I hope I can count on you
> for more mentoring, just like the mentor-management associate program at
> Citi.
> I hope you have an excellent weekend.
> Best Regards,
> Yvan
> >From: [email protected]
> >To: [email protected]
> >Subject: RE: Yvan Go from Berkeley
> >Date: Mon, 8 Oct 2001 14:02:02 -0500
> >
> >Yvan,
> >
> >I shall forward your resume to our chief trader as well.
> >
> >Vince
> >
> > -----Original Message-----
> > From: "yvan go" @ENRON
> > Sent: Saturday, October 06, 2001 2:37 PM
> > To: [email protected]
> > Subject: Yvan Go from Berkeley
> >
> >
> > Dear Vincent,
> > Let me thank you for your time at Berkeley last Thursday.
> > It was an exciting presentation that gave me a return ticket to the
> > world of derivatives. I have been in the trading floor of Citibank N.A
> > in Asia. As such, I have been to countless trading seminars on risks,
> > fixed income, currencies and commodities derivatives. I have learned
> > that Enron pioneered exotic derivatives in weather and carbon
> monoxide.
> > I am a risk taker. Even with the prospect of a promotion, bonus and an
> > international posting, I decided to reinvent myself with the belief
> that
> > technology will transform the capital markets. I am at Berkeley taking
> > up courses such as UNIX, C, HTML, systems analysis, and relational
> > databases leading to a diploma in computer information systems. These
> > courses will supplement Java, Data Structures, and Operating Systems
> > courses that I have taken previously.
> > Armed with my technical skills and more than seven years of experience
> > in foreign exchange, fixed income, cash and securities, I am pursuing
> > opportunities in global technology program of Enron. I expect to
> fulfill
> > the requirements for the diploma by December 13, 2001. I am forwarding
> > to you a copy of my resume which I sent to Ms. Terry Peng.
> > It was my pleasure to meet an ex-Citibanker. Your thoughts and
> > experiences at Enron will certainly leave a marked impression in my
> > future decisions.
> > Sincerely,
> > Yvan Norvin B. Go
> >
> > Get your FREE download of MSN Explorer at http://explorer.msn.com <<
> > File: 'http://go.msn.com/bql/hmtag_itl_EN.asp' >>
> >
> > - resume.doc << File: resume.doc >>
> >
> >
> >
> >**********************************************************************
> >This e-mail is the property of Enron Corp. and/or its relevant
> affiliate and may contain confidential and privileged material for the
> sole use of the intended recipient (s). Any review, use, distribution or
> disclosure by others is strictly prohibited. If you are not the intended
> recipient (or authorized to receive for the recipient), please contact
> the sender or reply to Enron Corp. at
> [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.
> >**********************************************************************
>
> Get your FREE download of MSN Explorer at http://explorer.msn.com <<
> File: 'http://go.msn.com/bql/hmtag_itl_EN.asp' >>
>
>
Get your FREE download of MSN Explorer at http://explorer.msn.com |
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B2B Partners Will Spur Wrap Account Success - Brief
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Related to: Financial Services UK Market Focus
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Moxi Debuts The First True Entertainment Gateway - Brief
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Related to: Media Market Focus
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Selling Portals Won't Cure MedicaLogic's EMR Blues - Brief
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Here is CERA's latest near term analysis.
---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 10/27/2000
02:40 PM ---------------------------
[email protected] on 10/26/2000 06:05:45 PM
To: [email protected]
cc:
Subject: Temporary Slack - CERA Alert
**********************************************************************
CERA Alert: Sent Thu, October 26, 2000
**********************************************************************
Title: Temporary Slack
Author: N. American Gas Team
E-Mail Category: Alert
Product Line: North American Gas ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1402 ,
Alternative URL:
http://www.cera.com/client/nag/alt/102600_15/nag_alt_102600_15_ab.html
*********************************************************
Warm weather and strong storage injections have temporarily shifted the focus
in the
gas market away from a potential supply shortage this winter toward a growing
sense
that supplies might just prove adequate. The result has been a steady and
steep
decline in the November NYMEX price from $5.63 per MMBtu on October 12 into
the $4.60s as of October 25. Cash prices have followed suit, falling from the
mid-
$5.50s to the $4.60s at the Henry Hub, and gas is now pricing below residual
fuel oil
in the Gulf Coast and especially on the East Coast. Although gas storage
inventories
will begin the winter at levels higher than expected, in CERA,s view adequate
supply for the winter is not yet assured, and the market remains subject to a
quick
return to prices well above $5.00 with the first cold snap.
Storage injections of 71 billion cubic feet (Bcf) for the week ended October
20
accompanied by broad-based and continuing warm weather have driven the shift
in
market psychology. Last week,s injection rate was 26.5 Bcf, or approximately
3.8
Bcf per day, above the previous five-year average for those seven days and 58
Bcf
above the 13 Bcf of injections recorded last year for the week ending October
22.
With warm weather this week and the return of more normal temperatures
expected
next week, CERA now expects storage to reach a maximum level of 2,784 Bcf on
October 31--still an all-time low entering the winter, by 26 Bcf (see Table
1).
Is this inventory level "enough"? Not yet. Storage inventories this winter
under 15-
year normal weather conditions would fall to approximately 780 Bcf, 22 Bcf
above
the previous all-time low. This end-of-March minimum implies total
withdrawals in
the United States this winter of 2.0 trillion cubic feet (Tcf), 128 Bcf above
last year,s
withdrawals. But holding withdrawals this winter down to 2.0 Tcf in the face
of a
return to normal weather--and the demand rebound of 3.0 Bcf per day it would
bring--will be difficult. Although the beginning of a US supply rebound and
growing imports will add approximately 1.0 Bcf per day to supplies this
winter,
holding withdrawals down requires both of the following:
* Industrial markets--mainly ammonia and methanol
producers--that are now shut down because of high gas prices
must remain shut down. These markets represent
approximately 0.5 Bcf per day of demand that could return,
should gas prices moderate relative to ammonia and methanol.
* The nearly 1.5 Bcf per day of switchable load now burning
residual fuel oil must remain off of gas.
In CERA,s view, for gas prices to fall below resid on a sustained basis,
particularly
as power loads increase this winter, it must become apparent that winter
demand can
be met, the current resid load can return to gas, and storage inventories can
be held
reasonably near the previous record low. That low, 758 Bcf, occurred in March
1996
and was accompanied by a February average price of $4.41 and a March average
of
$3.00 at the Henry Hub. That spring, however, US productive capability was
nearly
4.0 Bcf per day greater than it is today, winter power generation demand was
lower,
and there were about 4.5 million fewer residential and commercial gas
customers in
the United States.
Market fundamentals in CERA,s view still support gas prices above those of
resid,
which as of this writing is pricing in the $4.75-$5.00 per MMBtu range. Warm
weather throughout November and into December could reverse this
relationship, but
a warm October alone is insufficient, and any cold weather within the next few
weeks will quickly tighten the slack that has temporarily come into the
market.
CERA,s price outlook for November--an average of $5.50 at the Henry Hub--
stands for now.
**end**
Follow URL for PDF version of this Alert with associated table.
*********************************************************
CERA's Autumn 2000 Roundtable event dates and agendas are now available at
http://www.cera.com/event
*********************************************************
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solid perspective on current situation.
-----Original Message-----
From: Emmert, Caroline
Sent: Tuesday, September 18, 2001 12:37 PM
To: Platter, Phillip
Subject: FW: Afghani - American perspective
-----Original Message-----
From: Michael Allen Harrison [mailto:[email protected]]
Sent: Tuesday, September 18, 2001 10:13 AM
To: Mail List #1; mail list 2; Mail list 3; Mail list #4; Oregonian; Portland Tribune; KKJZ Smooth Jazz And fabulous people!
Subject: Afghani - American perspective
Dear Friends, The following was sent to me by my friend Tamim
Ansary. Tamim is an Afghani-American writer. He is also one of the most
brilliant people I know in this life. When he writes, I read. When he
talks, I listen. Here is his take on Afghanistan and the whole mess we
are in. -Gary
Dear Gary and whoever else is on this email thread:
I've been hearing a lot of talk about "bombing Afghanistan back to
the Stone Age." Ronn Owens, on KGO Talk Radio today, allowed that this
would mean killing innocent people, people who had nothing to do with
this atrocity, but "we're at war, we have to accept collateral damage.
What else can we do?" Minutes later I heard some TV pundit discussing
whether we "have the belly to do what must be done."
And I thought about the issues being raised especially hard because
I am from Afghanistan, and even though I've lived here for 35 years
I've never lost track of what's going on there. So I want to tell
anyone who will listen how it all looks from where I'm standing.
I speak as one who hates the Taliban and Osama Bin Laden. There is
no doubt in my mind that these people were responsible for the atrocity
in New York.
I agree that something must be done about those monsters.
But the Taliban and Bin Laden are not Afghanistan. They're not even
the government of Afghanistan. The Taliban are a cult of ignorant
psychotics who took over Afghanistan in 1997. Bin Laden is a political
criminal with a plan. When you think Taliban, think Nazis. When you
think Bin Laden, think Hitler. And when you think "the people of
Afghanistan" think "the Jews in the concentration camps." It's not only
that the Afghan people had nothing to do with this atrocity. They were
the first victims of the perpetrators. They would exult if someone
would come in there, take out the Taliban and clear out the rats nest
of international thugs holed up in their country.
Some say, why don't the Afghans rise up and overthrow the Taliban?
The answer is, they're starved, exhausted, hurt, incapacitated,
suffering. A few years ago, the United Nations estimated that there are
500,000 disabled orphans in Afghanistan--a country with no economy, no
food. There are millions of widows. And the Taliban has been burying
these widows alive in mass graves. The soil is littered with land
mines, the farms were all destroyed by the Soviets. These are a few of
the reasons why the Afghan people have not overthrown the Taliban.
We come now to the question of bombing Afghanistan back to the Stone
Age. Trouble is, that's been done. The Soviets took care of it already.
Make the Afghans suffer? They're already suffering. Level their houses?
Done. Turn their schools into piles of rubble? Done. Eradicate their
hospitals? Done. Destroy their infrastructure? Cut them off from
medicine and health care? Too late. Someone already did all that.
New bombs would only stir the rubble of earlier bombs. Would they at
least get the Taliban? Not likely. In today's Afghanistan, only the
Taliban eat, only they have the means to move around. They'd slip away
and hide. Maybe the bombs would get some of those disabled orphans,
they don't move too fast, they don't even have wheelchairs. But flying
over Kabul and dropping bombs wouldn't really be a strike against the
criminals who did this horrific thing. Actually it would only be making
common cause with the Taliban--by raping once again the people they've
been raping all this time.
So what else is there? What can be done, then? Let me now speak with
true fear and trembling. The only way to get Bin Laden is to go in
there with ground troops. When people speak of "having the belly to do
what needs to be done" they're thinking in terms of having the belly to
kill as many as needed. Having the belly to overcome any moral qualms
about killing innocent people. Let's pull our heads out of the sand.
What's actually on the table is Americans dying. And not just because
some Americans would die fighting their way through Afghanistan to Bin
Laden's hideout. It's much bigger than that folks. Because to get any
troops to Afghanistan, we'd have to go through Pakistan. Would they let
us? Not likely. The conquest of Pakistan would have to be first. Will
other Muslim nations just stand by?
You see where I'm going. We're flirting with a world war between
Islam and the West. And guess what: that's Bin Laden's program. That's
exactly what he wants. That's why he did this. Read his speeches and
statements. It's all right there. He really believes Islam would beat
the west. It might seem ridiculous, but he figures if he can polarize
the world into Islam and the West, he's got a billion soldiers. If the
west wreaks a holocaust in those lands, that's a billion people with
nothing left to lose, that's even better from Bin Laden's point of
view. He's probably wrong, in the end the west would win, whatever that
would mean, but the war would last for years and millions would die,
not just theirs but ours. Who has the belly for that?
Bin Laden does. Anyone else?
Tamim Ansary
_____
Terrorist Attacks on U.S. - How can you help?
Donate cash, emergency relief information in Yahoo! News <http://rd.yahoo.com/mail_us/tag/?http://dailynews.yahoo.com/fc/US/Emergency_Information/> . |
Tom,
Once again good to hear from you. Still no electricity or water, though
again luckily lap top battery working. I am also surprised able to get on
line and get through. Once electricity goes back on will probably have a
tougher time getting trhough. A bit ironic.
Took a long walk around this morning, crossing the Galata Bridge into Old
Istanbul (my neighborhood can't be called young) and saw little evidence of
damage. Suspect most of it in new construction areas out on the edge of
this huge metropolitan area, where conrers get cut. This is a poor country
with a lot of folks struggling just to put the flimsiest of roofs over their
head.
Knock on wood, but think you can all rest easy. Doesn't seem to be any fire
risk nearby, etc. Your right about nighttime timing; was on the darkened
deck of a ship in a mighty stormy sea. CNN says 7.8 or somthing in Izmit
(65 miles east of here)! I'm on the top floor and had all kinds of images
going through my head, as you can imagine.
More later. Love you too and looking forward to seeing you in October.
Mark-O
>From: <[email protected]>
>To: [email protected]
>Subject: THANK GOD--It's good to hear you're all right!!!!!!!
>Date: Mon, 16 Aug 1999 22:28:45 -0500
>
>
>
>
>______________________________ Forward Header
>__________________________________
>Subject: THANK GOD--It's good to hear you're all right!!!!!!!
>Author: Tom Skilling at WGNTV-ENG
>Date: 8/16/99 10:28 PM
>
>
> Mark----
> Thanks!!! Message received. Thank God you're OK and thanks for
> getting to me so quickly. Read the message to Dad and Mom who are
> getting on line to get your e-mail. I see you copied them.
> I really thought we might not hear from you for a while. It will
> be interesting to see if lines of communication remain open.
> Latest wire story here says 10 dead--though reports are early.
> They're saying the U.S. Earthquake information service put the quake
> at 7.3 and news reports are claiming its chaos in some areas there.
> Take care of yourself and keep in touch with us as you can, Mark.
> We love you and thank you for thinking to check with us so quickly.
> You've put our minds at ease--though I can't imagine what state that
> city is in or the extent of troubles to follow. The thing that
>really
> scared me was the fact it hit so early in the morning. That must
>have
> been frightening.
> I love you Mark. Keep in touch!
>
> Tom
>
>
>______________________________ Reply Separator
>_________________________________
>Subject: Re: earthquake---are you all right?
>Author: "Mark Skilling" <[email protected]> at Internet_TCO
>Date: 8/16/99 8:12 PM
>
>
>Just got on line. Surprised it was possible. Electricity out, so probably
>only us with battery powered lap tops clogging things up.
>
>Everything ok here, so far. Got a pretty good shake. Was out in the
>streets for a couple of hours, with everyone else. My neighborhood up on
>solid rock, so things looked mostly ok. Lots of old and bad construction
>here; stones in the street. One upper floor (abandoned) apartment half a
>block from here collapsed and much debris in the stereets. No apparent
>injuries, however, in my neighborhood. Unfortunately, other areas not so
>lucky. Saw 6.7 estimate for Izmit, the center, here (one place I passed
>had
>a genertor and had a tv out for everyone to see). Passed women praying,
>men
>reading Koran, most just huddled in groups talking. Strange being in the
>middle of it all with limited ability to communicate. Know a few folks in
>neighborhood and we had a few basic chats, though its amazing how much I
>learned even from them. Already knew the Turkish word for earthquake,
>which
>is depram (revolution is devrim) and came in handy.
>
>A few seagulls just went by and I think a neighbor down stairs up and
>about;
>mistook that comotion for an aftershock. A little rattled myself; much
>like
>after SF quake. I think memory of that still deep seeded in my
>subconscious.
>
>Again, this new technology amazes. Better get off and save my battery.
>May
>need it.
>
>Thanks for the note. It was good to see your messages there. I'll send
>this to the rest of the family, but if they call tell them I'm ok and
>worried about them worrying about me.
>
>Love,
>
>Mark
>
>
>
> >From: <[email protected]>
> >To: "Mark Skilling" <[email protected]>
> >Subject: Re: earthquake---are you all right?
> >Date: Mon, 16 Aug 1999 21:55:16 -0500
> >
> > Mark--
> > Have just received word of the earthquake there. Reports are
> > preliminary but they are reporting it hit just after 3AM your time
> >and
> > that buildings have collapsed and there are deaths--though they
> > haven't said how many. It's being estimated at 7.1.
> > I've called Mom and Dad---clearly, Mark, we're very concerned.
> > Let us know you're all right.
> > Have been meaning to get to you to say hello. Hvae been
>following
> > your e-mails.
> > We're told phone lines are out--so haven't any idea when this
> > might get to you. Please let us know you're all right.
> > Thanks Mark.
> >
> > Love,
> > Tom
> >
>
>
>______________________________________________________
>Get Your Private, Free Email at http://www.hotmail.com
>
______________________________________________________
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Energy supply setback: Big generator can't be forced to sell emergency power
to the state, a U.S. court rules.
By Denny Walsh and Carrie Peyton
BEE STAFF WRITERS
(Published April 6, 2001)
In a development that does not bode well for California's energy supply, a
federal appellate court Thursday halted enforcement of a lower court order
that a big electricity generator must sell emergency power to the state
without guarantee of payment.
State energy officials said the ruling wouldn't have any immediate effect but
could precipitate a power emergency if the generator decided to take a plant
off-line for maintenance.
On March 21, citing "rolling blackouts (that have) darkened the California
landscape," U.S. District Judge Frank C. Damrell Jr. imposed an injunction
against Reliant Energy Services Inc., one of the nation's major generators.
Houston-based Reliant controls approximately 3,800 megawatts, or about 20
percent, of the gas-fired generation capacity in the state, and Damrell found
that loss of that production "poses an imminent threat."
But Thursday, a three-judge panel of the 9th U.S. Circuit Court of Appeals
granted an emergency stay of the injunction, saying Reliant has shown "a high
likelihood of success on the merits" of its appeal.
While not spelling it out, the panel apparently bases its finding on the
question of the courts' jurisdiction over the energy market. The panel
directed that a hearing on the appeal be scheduled for the second week in
July.
The decision leaves California's electric grid more fragile, at least
temporarily, according to the state Independent System Operator, which
maintains and controls power transmissions.
It gives the agency no immediate recourse if Reliant chooses to shut down any
of its plants for maintenance, said ISO Vice President Jim Detmers.
"It's not going to change anything overnight, and it's not going to change
anything over the weekend," said Detmers. "But if Reliant decided on a
unilateral action to take their units off for maintenance ... we definitely
could have a system emergency."
Reliant officials, when told of the ruling, took a conciliatory tone but
declined to specify their next move.
"Reliant ... has pledged to keep the lights on in California," said company
lobbyist Marty Wilson, and "is still of a mind to want to cooperate."
Without further comment, the appeals court judges cited a 1980 U.S. District
Court decision. In that case, 14 cities sued Florida Power and Light Co.,
alleging that it was violating a number of laws in its sales of power and
production of electricity.
The judge found, however, that the Federal Power Act reserves oversight of
interstate utilities exclusively to the Federal Energy Regulatory Commission.
He ruled that only the commission may bring an action involving energy sales
into federal court -- unless it is a request to review a commission order,
and that goes directly to an appellate court.
The lawsuit before Damrell was brought by the ISO to force Reliant and two
other generators to respond to ISO's emergency orders for power, even though
the agency is buying on behalf of two retailers that are broke and hopelessly
in debt.
Because Pacific Gas and Electric Co. and Southern California Edison can't pay
their bills -- about $14 billion -- some wholesalers want to cut off sales to
the utilities.
The other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston
and Tulsa-based AES Corp. and its marketer, Williams Energy Marketing &
Trading Co. -- have entered into written agreements with ISO to continue
supplying emergency power until the FERC decides whether they are required to
sell to companies that are not creditworthy.
But Charles Robinson, ISO general counsel, points out that the generators can
rescind those agreements with 48 hours' notice.
"My hope is this is a temporary setback," said Robinson. He added, however,
that the practical effect is "at least for now, we don't have a tool to
compel them to do what we believe they're obligated to do" -- respond to
emergency demands for power.
Reliant has insisted since the suit was filed Feb. 6 that Damrell has no
jurisdiction over the rate schedules that govern dealings between generators
and the ISO, and that the Federal Power Act mandates that the FERC must
settle any disputes about terms of those tariffs.
In issuing the injunction, Damrell acknowledged that the FERC has special
expertise concerning agreements between generators and ISO.
"Absent the extreme exigencies of the California power crisis, the court
agrees that a stay pending further action by the FERC would be proper," he
said. "But those are not the facts here. Electricity is in critically short
supply. The health and safety of the people of California are potentially at
risk."
Immediately upon receiving the 9th Circuit's order Thursday, attorneys for
the ISO asked Damrell to set an accelerated schedule for its motion to amend
the suit. The agency apparently has crafted a new complaint stressing its
view that the matter is an ordinary contract dispute over which the judge has
jurisdiction.
Damrell scheduled a hearing on the motion for Thursday.
In a further development that could complicate the state's dire need for
energy, an alternative supplier won a court fight Thursday to bypass the big
utilities and sell its power on the open market.
Timber giant Sierra Pacific Industries, which operates four biomass plants
that produce power for PG&E, obtained a temporary restraining order in
Sacramento Superior Court that says Sierra Pacific is not required to sell
its power to PG&E.
The ruling means PG&E and Southern Edison could lose power as alternative
energy generators, fed up with months of nonpayment, sue to be able to sell
their comparatively cheap product elsewhere, including outside the state. |
We will need the "organizational ID" number for the Delaware, Maryland and
Texas entities. If you wish, we can obtain this information from CT Corp.
or a similar service provider for a charge of $12 per entity.
Also, for UCC filing purposes, we need to know whether any counterparty is
a "transmitting utility", i.e., entity primarily engaged in transmitting or
producing electricity or transmitting goods by pipeline.
Finally, I assume you will consult with local counsel regarding the
Canadian counterparties.
Thank you.
Lech Kalembka
Cadwalader, Wickersham & Taft
100 Maiden Lane
New York, NY 10038
Tel.: (212) 504-6918
Fax: (212) 504-6666
E-mail: [email protected]
"Heard,
Marie" To: [email protected]
<Marie.Heard@ cc:
ENRON.com> Subject: FW: Enron Canada
Office: Corp
11/06/2001
02:04 PM
Is there anything else you need for BP Amoco?
Marie
> -----Original Message-----
> From: "Dixon, Billy D" <[email protected]>@ENRON
> Sent: Tuesday, November 06, 2001 1:00 PM
> To: Heard, Marie
> Subject: RE: Enron Canada Corp
>
> Principal Operating Offices:
>
> BP Corporation North America Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Energy Company
> 501 West Lake Park Boulevard
> Houston, Texas 77079
>
> Vastar Resources, Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Canada Energy Company
> 240 - 4th Avenue S.W.
> Calgary, Alberta T2P 4H4
>
> BP Canada Energy Marketing Corp.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> Cibola Energy Services Corporation
> 350 N. St. Paul Street
> Dallas, TX 75201
>
> IGI Resources, Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Oil Supply Company
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Products North America Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Amoco Chemical Company
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> Atlantic Richfield Company
> 333 S. Hope Street
> Los Angeles, CA 90071
>
> Amoco Production Company
> 501 WestLake Park Boulevard
> Houston, Texas 77079
>
> BP Chemicals Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
>
> -----Original Message-----
> From: Heard, Marie [mailto:[email protected]]
> Sent: Tuesday, November 06, 2001 8:54 AM
> To: [email protected]
> Subject: RE: Enron Canada Corp
>
>
> I sure will if you will tell me the principal place of business of all
> your entities party to the Master Netting Agreement.
>
> Enron Canada Corp.
> 3500, 400 - 3rd Avenue S.W.
> Calgary, Alberta T2P 4H2
>
> > -----Original Message-----
> > From: "Dixon, Billy D" <[email protected]>@ENRON
> > Sent: Tuesday, November 06, 2001 7:47 AM
> > To: Heard, Marie
> > Subject: Enron Canada Corp
> >
> > Would you please tell me where Enron Canada Corp.'s principal place
> of
> > business in Canada is located?
> >
> > Very truly yours,
> >
> > BILLY
> > Billy D. Dixon
> > Attorney
> > BP America Inc.
> > 501 Westlake Park Blvd., Rm 16.166
> > Houston, Texas 77079
> > Direct 281/366-4745
> > Fax 281/366-5901
> > [email protected]
> >
> > ***IMPORTANT -- THIS EMAIL AND ANY ATTACHMENTS HERETO ARE
> > ATTORNEY-CLIENT
> > AND/OR ATTORNEY WORK-PRODUCT PRIVILEGED AND CONFIDENTIAL. If you
> have
> > received this email in error, do not under any circumstances read,
> > forward,
> > copy, disseminate or save this email or any of its attachments. If
> > you have
> > received this email in error, take the following actions: (1) reply
> to
> > this
> > email indicating that you received this email in error, and (2)
> delete
> > and
> > completely erase this email and its attachments from your computer
> and
> > any
> > backup systems or "Deleted Items" folders.
> >
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant
> affiliate and
> may contain confidential and privileged material for the sole use of
> the
> intended recipient (s). Any review, use, distribution or disclosure by
> others is strictly prohibited. If you are not the intended recipient
> (or
> authorized to receive for the recipient), please contact the sender or
> reply
> to Enron Corp. at [email protected] and delete
> all
> copies of the message. This e-mail (and any attachments hereto) are
> not
> intended to be an offer (or an acceptance) and do not create or
> evidence a
> binding and enforceable contract between Enron Corp. (or any of its
> affiliates) and the intended recipient or any other party, and may not
> be
> relied on by anyone as the basis of a contract by estoppel or
> otherwise.
> Thank you.
> **********************************************************************
==============================================================================
NOTE: The information in this email is confidential and may be legally privileged. If you are not the intended recipient, you must not read, use or disseminate the information. Although this email and any attachments are believed to be free of any virus or other defect
that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham
& Taft for any loss or damage arising in any way from its use.
============================================================================== |
---------------------- Forwarded by Phillip K Allen/HOU/ECT on 10/09/2000
02:00 PM ---------------------------
Richard Burchfield
10/06/2000 06:59 AM
To: Phillip K Allen/HOU/ECT@ECT
cc: Beth Perlman/HOU/ECT@ECT
Subject: Consolidated positions: Issues & To Do list
Phillip,
Below is the issues & to do list as we go forward with documenting the
requirements for consolidated physical/financial positions and transport
trade capture. What we need to focus on is the first bullet in Allan's list;
the need for a single set of requirements. Although the meeting with Keith,
on Wednesday, was informative the solution of creating a infinitely dynamic
consolidated position screen, will be extremely difficult and time
consuming. Throughout the meeting on Wednesday, Keith alluded to the
inability to get consensus amongst the traders on the presentation of the
consolidated position, so the solution was to make it so that a trader can
arrange the position screen to their liking (much like Excel). What needs to
happen on Monday from 3 - 5 is a effort to design a desired layout for the
consolidated position screen, this is critical. This does not exclude
building a capability to create a more flexible position presentation for the
future, but in order to create a plan that can be measured we need firm
requirements. Also, to reiterate that the goals of this project is a project
plan on consolidate physical/financial positions and transport trade capture.
The other issues that have been raised will be capture as projects on to
themselves, and will need to be prioritised as efforts outside of this
project.
I have been involved in most of the meetings and the discussions have been
good. I believe there has been good communication between the teams, but now
we need to have focus on the objectives we set out to solve.
Richard
---------------------- Forwarded by Richard Burchfield/HOU/ECT on 10/06/2000
08:34 AM ---------------------------
Allan Severude
10/05/2000 06:03 PM
To: Richard Burchfield/HOU/ECT@ECT
cc: Peggy Alix/HOU/ECT@ECT, Russ Severson/HOU/ECT@ECT, Scott
Mills/HOU/ECT@ECT, Kenny Ha/HOU/ECT@ECT
Subject: Consolidated positions: Issues & To Do list
From our initial set of meetings with the traders regarding consolidated
positions, I think we still have the following issues:
We don't have a single point of contact from the trading group. We've had
three meetings which brought out very different issues from different
traders. We really need a single point of contact to help drive the trader
requirements and help come to a consensus regarding the requirements.
We're getting hit with a lot of different requests, many of which appear to
be outside the scope of position consolidation.
Things left to do:
I think it may be useful to try to formulate a high level project goal to
make it as clear as possible what we're trying to accomplish with this
project. It'll help determine which requests fall under the project scope.
Go through the list of requests to determine which are in scope for this
project and which fall out of scope.
For those in scope, work to define relative importance (priority) of each and
work with traders to define the exact requirements of each.
Define the desired lay out of the position manager screen: main view and all
drill downs.
Use the above to formulate a project plan.
Things requested thus far (no particular order):
Inclusion of Sitara physical deals into the TDS position manager and deal
ticker.
Customized rows and columns in the position manager (ad hoc rows/columns that
add up existing position manager rows/columns).
New drill down in the position manager to break out positions by: physical,
transport, swaps, options, ...
Addition of a curve tab to the position manager to show the real-time values
of all curves on which the desk has a position.
Ability to split the current position grid to allow daily positions to be
shown directly above monthly positions. Each grouped column in the top grid
would be tied to a grouped column in the bottom grid.
Ability to properly show curve shift for float-for-float deals; determine the
appropriate positions to show for each:
Gas Daily for monthly index,
Physical gas for Nymex,
Physical gas for Inside Ferc,
Physical gas for Mid market.
Ability for TDS to pull valuation results based on a TDS flag instead of
using official valuations.
Position and P&L aggregation across all gas desks.
Ability to include the Gas Price book into TDS:
Inclusion of spread options in our systems. Ability to handle volatility
skew and correlations.
Ability to revalue all options incrementally throughout the trading day.
Approximate delta changes between valuations using instantaneous gamma or a
gamma grid.
Valuation of Gas Daily options.
A new position screen for options (months x strike x delta). TBD.
Inclusion of positions for exotic options currently managed in spreadsheets.
Ability to isolate the position change due to changed deals in the position
manager.
Ability to view change deal P&L in the TDS deal ticker. Show new deal terms,
prior deal terms, and net P&L affect of the change.
Eliminate change deals with no economic impact from the TDS deal ticker.
Position drill down in the position manager to isolate the impact of
individual deals on the position total in a grid cell.
Benchmark positions in TDS.
Deployment of TDS in Canada. Currency and volume uom conversions. Implicit
and explicit position break out issues.
-- Allan.
PS: Colleen is setting up a meeting tomorrow to discuss the direction for
transport. Hopefully we'll know much better where that part stands at that
point. |
We all attended (parts of) a day long event which I believe Vince is hosting
on Wharton and a project they are doing for us, I personally would like to
see the results of that before doing more with Wharton as overall Vince and
Jeff Shankman have Wharton pretty well covered.
Louise
Christie Patrick
05/21/2001 07:01 PM
To: Louise Kitchen/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Andy
Zipper/Enron@EnronXGate
cc: Jeffrey A Shankman/Enron@EnronXGate, Vince J Kaminski/Enron@EnronXGate,
Mark Palmer/Corp/Enron@ENRON
Subject: Wharton
Guys--
First of all, Louise, I understand we have a baby?? CONGRATULATIONS!!
(details please, at your earliest chance)
Regarding the Wharton e-Business Initiative (see below for one of the many
eMails I've received concerning Enron's participation--link to the referenced
web site for specific agenda; also, I've received several voice messages from
leaders of the effort). The information below discusses one of the forums
(coming up 5/31-6/1) that comprise an on-going e-business initiative in which
Enron has invested with Wharton.
The participants from Wharton include senior level professors; while there
may be some student involvement, the intentional focus is high level
discussion and research endeavors at the professorial level.
Other participants in WeBI are Corporate representatives. The idea is for
the professors to offer their latest research issues, promote discussions
among the corporate participants to talk through the professors research and
other research in the literature, as well as for the professors to listen for
new areas for which commercial eBusinesses are seeking new research.
Again, this is intentionally designed as a High Level Professor
participation on the Wharton side, and high level e-Business Corporate
executives on the other side. This is intentionally designed to create a
high-level 'e-think-tank' environment for senior level professors and
corporate executives.
O.K.....have I labored enough to describe what WeBI is all about??
As opposed to the several other efforts Enron University Affairs has to
DIRECTLY increase Enron's favorability and familiarity on campus at levels
above recruiting, but that ultimately trickle down to recruiting, this is
intentionally a research/discussion effort. Clearly, the Enron Brand equity
in dealing with professors is that the professors ultimately incorporate work
from information from the participatory forums into their class teachings,
references, course work, etc.
A few weeks ago, Louise and I breifly chatted about Enron's involvement in
this effort. Clearly, there is a HUGE interest by the Wharton professors and
other corporate participants involved to have Enron attend and
participate---they quite respectfully call me and eMail me very
frequently.......All of this is very interesting to me and I have shepherded
our minimal involvement-in-fact........ yet the question remains: is there
someone at Enron, directly involved in Enron's eBusiness initiatives,
interested in jumping into this effort and participating? Do those of you
involved in these businesses think it worth your time and expense, or the
time and expense of one of your senior (at least Director level) people to
participate? Would it be viewed, at least at this time, simply as an "Enron
brain drain" (I've received this realistic and possibly quite legitimate
concern from more than one business person at Enron).
The bottom line is, I'd like to be able to respond intelligently and honestly
to those at Wharton committed to this effort. I feel more than comfortable
telling Wharton that, at this time, Enron is satisfied to participate in the
WeBI effort largely at the
financial level it has already invested--with the option to participate at
other levels in the future, at Enron's discretion.
ALL comments solicited----
Many thanks!!
--Christie.
---------------------- Forwarded by Christie Patrick/HOU/ECT on 05/21/2001
04:02 PM ---------------------------
HartleyR <[email protected]> on 05/21/2001 03:03:44 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: ICG/Wharton Forum meeting May 31-June 1
Christie,
Lee Goldring, our new Forum director mentioned that he placed a call to you
to introduce himself and follow up on Enron's representation at the next
meeting. I'm emailing this information to you to alert you to the situation
since I do not think you would want Enron to go unrepresented at the next
meeting. To date, no one from Enron has registered for the Forum sponsored
Online Conversion Workshop, the Forum meeting on 5/31 or the Members Only
meeting on 6/1. Please note that the "From Browsers to Buyers: Online
Conversion Workshop" on May 30th is purely optional in case some folks from
Enron are interested in attending. Since the Forum is co-sponsoring the
Workshop -- WeBI affiliated registrants will not be charged the $495
registration fee as an added benefit for their sponsorship.
Here are all the relevent links to the Forum agenda and registration sites
for your convenience:
Forum Agenda: http://webi.wharton.upenn.edu/meetingNotes/m_n_5_01.asp
Forum Registration site: http://ecom.wharton.upenn.edu/conferencereg/Reg.asp
From Browsers to Buyers: Online Conversion Workshop:
http://aresty-direct.wharton.upenn.edu/execed/conversion/index.html
Please let me know if there's anything I can help you with.
Best regards,
Robin
Robin Hartley
Associate Director
Wharton Electronic Business Initiative
University of Pennsylvania
Vance Hall - Room 415
3733 Spruce Street
Philadelphia, PA 19104
tel (215) 898-4158/fax (215) 898-1905
[email protected]
http://webi.wharton.upenn.edu |
Rick,
What is the network theory here? I'm also not a fan of an only Jordanian
play. Politically, I'm not sure it makes sense, (like Gaza) What's the
benefit here?
Jeff
Rick Bergsieker@ENRON_DEVELOPMENT
09/25/2000 11:59 AM
To: Jeffrey A Shankman@ECT, Mike McConnell/HOU/ECT@ECT
cc:
Subject: Re: JORDAN
FYI---this project is heating up rapidly and may be quite attractive. I had
separate talks inLondon on Friday last week to explore turning this into a
regional development project in the Aqaba/Eilat area at the tip of the red
sea (where Egypt, Israel, Jordan and Saudi all meet and where a regional
planning authority is in place). There may be a good opportunity for a
regional power and district cooling plant with energy management and
gas/power marketing opportunities.
Will advise after Rob's meeting s in Cairo/Amman and after we scrub this at
our Dubai planning meeting this week
Rick
---------------------- Forwarded by Rick Bergsieker/ENRON_DEVELOPMENT on
09/25/2000 11:54 AM ---------------------------
Hamdi Atta <[email protected]> on 09/19/2000 04:45:12 AM
Please respond to Hamdi Atta <[email protected]>
To: El-Hage Charles <[email protected]>
cc: [email protected], Rob Stewart <[email protected]>,
[email protected], [email protected]
Subject: Re: JORDAN
Charles,
Further to my last email my thoughts on the competing schemes are as
follows;
I reviewed the subject of your email from the angle of competing schemes and
the advise I received is that the whole project should be presented and
dealt with as an "area" project serving several countries inclusive of
Jordan (ie. the hub approach). It is very important that it is promoted this
way or there might be a big risk of leaving the image or consideration that
this is just purely a Jordanian project without a broader scope.
Regards,
Hamdi
----- Original Message -----
From: El-Hage Charles <[email protected]>
To: Rob Stewart <[email protected]>
Cc: Hamdi Atta <[email protected]>; Rick Bergsieker
<[email protected]>; Saddi Joe <[email protected]>; Amin Badr-El-Din
<[email protected]>; <[email protected]>; El-Hage Charles
<[email protected]>
Sent: Monday, September 18, 2000 11:36 PM
Subject: JORDAN
Fellows,
I had a number of interesting sessions today on Amman on the subject of
Egypt gas. IN summary:
- The Prime mInister and Oil Minister are open to discuss this project,
in the context of clear future needs, estimated at 400 BCF by 2005. As a
matter of fact, the Oil Minister - Wa'el Sabri - brought in his senior
team to the meeting and scheduled a working session with Enron for
September 27, at 10:00 AM
- In addition, the Royal Court (Diwan) support this development and has
sent to the meetings Dr. Bassem Awadallah, the Economic Advisor to King
Abdullah
- The Amoco deal is dead: they had an axclusivity arrangement which
ended recently and they had in mind a pricing scheme linked to the "fuel
being used currently" or to oil prices, both of which were totally
unacceptable to JOrdan
- Whatever deal there is will need to compete against the odds that the
deal with Irak, which provides Jordan with virtually "free" oil, will
keep as it is. In fact, it is this deal which has allowed the Government
to procrastinate on the AMOCO discussions
- Jordan is comfortable that there is gas in Risha, close to the Irak
border. Schlumberger are currently exploring in that region. The thing
is that the government is convinced that whatever gas they may find in
Risha should not prevent them fromstriking a deal for an import scheme
- The government has been approached by the Saleh Kamel group of saudi
arabia, which believes thay may be able to set up a new company which
will develop gas fields in the northwestern part of saudi (Tabouk) and
export it to Jordan. This is still at a very preliminary stage, but
appears to be of great interest to the jordanians
- IN addition, British Gas approached the minister with a new scheme,
relying on gas discovered "off the coast of Gaza and Israel, which will
require a shorter pipeline. the thing is that the Jordanians feel
uncomfortable with imports through Israel at this stage of the "peace
process"!
So here we are, welcome to pitch into this situation. I used the
argument of speed of development and this is something we need to check
with the Egyptians.
The course of action is as follows:
1. ENRON is to issue a letter to the Jordan Energy Minister (ASAP)
stating the opportunity and formally requesting discussions. No
MIDDLEMAN PLEASE...THIS WAS CLEARLY STATED BY THE PM and the Minister!.
The address is:
H.E. Eng. WA'EL SABRI
Minister of Energy & Mineral Resources
P.O.Box 140027, Amman, Jordan
Fax No. 9626 586 5373
Phone No. 9626 581 1338
A fax will do, as far as the minister is concerned.
2. A meeting has been scheduled on september 27, at 10:00 AM in the
Minister's office. it is likely to be attended by Ahmad Bashir,
secretary General of the Ministry and Rashad Aburas, Advisor to the
Minister (National Electric Power Co.), plus some other people
3. Based on the demand projections and timing, the jordanians expect
some kind of a formal proposal. time of important, as other competing
schemes may have political or technical delays
Fellows, the Jordanians are supportive of the scheme and its sponsors,
so we need to capitalize on this.
In line with my phone discussions with Rob, I will try to rearrange the
meeting for monday sept. 25 and, if possible, our meeting in Cairo for
sunday sept. 24.
I will keep you posted. Any thoughts on the competing schemes are most
welcome.
Charles |
yes
Robert Johnston
01/16/2001 08:35 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Scott Tholan/Corp/Enron@Enron
Subject: California Power 1/15/01
Jeff- I imagine you are following events in California with some degree of
closeness. Do you want to be included on these daily updates?
RJ
---------------------- Forwarded by Robert Johnston/HOU/ECT on 01/16/2001
08:42 AM ---------------------------
Robert Johnston
01/15/2001 09:10 PM
To: Michelle D Cisneros/HOU/ECT@ECT
cc: Gary Hickerson/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Jaime Gualy/NA/Enron@Enron, John Greene/LON/ECT@ECT,
Jeff Kinneman/HOU/ECT@ECT, Kristin Walsh/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron
Subject: California Power 1/15/01
As talks continued toward the Tuesday deadline markets have been focused on
for the California electricity crisis, state officials around Governor Gray
Davis have
toughened up their rhetoric on a couple of fronts even as they confirmed
they would be in the market as early as Tuesday taking bids for energy to be
paid by the
State of California. One problem on that front is still how much producers
want to charge the state for electricity. As we reported last week, Davis and
his aides
want to pay around $50 to $55 dollars per megawatt hour and suppliers want
about $75. Treasury Secretary Summers has suggested an auction as the best
way to
determine the price, but California officials are taking a less free market
approach and still hope to set the price through negotiation over long-term
contracts.
Our sources in Washington, Sacramento, and California are increasingly of the
view that Governor Davis is positioning his government to establish long-term
power contracts with the generators that could be passed through to the
utilities following a bankruptcy in the near term. This week's legislative
activities
in Sacramento will create the vehicle to do so. State credit backing
purchases of power would obviate the need for super-priority borrowing to
finance power
purchases after utility bankruptcy.
1. Audit- Untangling Utility Relationships
California officials have also toughened their rhetoric on the debt repayment
front as they say results from a preliminary audit show that
half of the $9 to $12 billion the utilities say they owe is actually owed to
themselves for power they bought from their corporate relations
This strange situation is due to the fact that one holding company owns both
the power-generating and power-distributing companies under a
holding company umbrella. Of course, that means that some of the power PG&E
and Southern California Edison bought at highly inflated prices
was bought from themselves.
But it was not all bad news in the tense negotiations. Sources confirm that
Davis increasingly understood that the state finance role was a crucial part
of any
potential solution. He told our sources this afternoon that he is willing to
use state credit to eliminate the "risky debt" premium that PG&E
and SCE are being charged by suppliers because of their shaky finances and
that he is willing to extend the current 10% rate increase
utility customers are paying far beyond the initial 90-day deadline. In
return he is demanding that the companies prepare to "share the
burden of debt reduction in return for state help and credit extension."
2. Debt Restructuring- Guarantees, but No Direct State Money
Davis also told the videoconference that he believes the $12 billion in back
debt owed by the utility companies can be cleared up
during a 90-day forbearance period (whether that period has been agreed to by
all creditors is not something we are clear about right now). Davis' idea, as
he laid it out in the meeting, is to use the forbearance period to securitize
the debts and sell them against the utilities' forward rate base or by
establishing a
medium-term repayment plan backed by continued state guarantees.
In both cases the restructured debt would be resolved over a decade without
direct use of taxpayer money as the utilities use their positive margins to
paydown their debt. One of the reasons Davis wants to stay close to the
$50-$55 megawatt charge is that it maximizes the rate at which utilities can
pay
down this debt. There is a strong chance that Davis will agree to use state
guarantees to sweeten the pot at the end of these negotiations, but he remains
opposed to using direct state money. This frustrates both Clinton
administration and utility creditors, but Davis has not yet shown much
flexibility.
3. Eminent Domain/Reregulation
Perhaps most frustrating to the Washington DC free market crowd at Treasury
and the White House was the continued comfort Davis and his group of political
advisers have with "non-market" solutions to the energy crisis. Although
the Governor's aides actually believe the weapon is more a "way to force
eventual
agreement, than an actual solution," the talk returns frequently to these
non-market mechanisms. "We have the ultimate weapon to enforce compliance by
the
Tuesday deadline. If we make no progress. If this thing looks like it will
turn into a genuine crisis, then we will use our powers of condemnation and
we will re-take
the plants and equipment and run them ourselves," a close political aide to
Davis said. "We will absorb the plants, the transmission lines and the
reserved parking
places of the executives. The legislature would agree in a second." |
I'll get you guys added to the distribution list.
Regards,
Jeff
-----Original Message-----
From: Fitzsimmons, Brendan
Sent: Monday, July 16, 2001 7:34 PM
To: Shankman, Jeffrey A.; Hickerson, Gary; Hannon, Kevin; Kinneman, Jeff; Fiala, Markus; Pizzolato, Paul; Gordon, Michael; Shahi, Pushkar; Stuart III, William; Su, Ellen; Seyfried, Bryan; Wiggs, Brett; Shapiro, Richard; Collonges, Remi; Lee, Derek; Scott, Eric
Cc: Tholan, Scott; Johnston, Robert
Subject: Brazil/Argentina Update
Importance: High
Sensitivity: Confidential
BRAZIL
Summary
Defining Brazilian Central Bank's crisis strategy: Facing dilemma of raising rates decisively now or holding fire while waiting on Argy; real can wait
IMF and US Treasury: still behind Brazil, behind the scenes, while giving Argentina an opportunity to extricate itself from its current problems
Fraga will seek to avoid repeat of last month's mistakes: will not weaken a large rate rise with easing bias again; will not give market new targets to bet against
Report
Some arguing a decisive pre-emptive raise - as much as 675bp to 25% by central bank. In light of the unsettled situation in Argentina and market response to Turkey's 400bp increase (met with continued selling pressure: lira set new lows, bonds down) there may be a move to conserve ammunition in case of a Argentina-induced external shock. Despite breaking through 2.6BRR/$, the real held and rallied today. Wait-and-see approach may be chosen on fears of a challenge to a rate rise fueling an upward rate spiral amidst further real depreciation. Central bank not expected to hold interventions to $50 mil./day, particularly if there are further problems in Argy.
--------------------------------------------------------------------
ARGENTINA
Summary
Domestic politics continues to drive near-term outcome
Cavallo continues to freelance, yielding uncertainty at home and abroad
Latest trial balloons focus on prepayment of taxes by banks and privatized companies
Letes swap talk still swirling
Next Letes auction scheduled for next Tuesday (7/24), something has give
Endgames: political compromise and/or Letes swap; tax prepay compromise; Cavallo going to international bankers for 'non-confrontational', voluntary restructuring; (if Cavallo goes) 'confrontational' default and/or breaking of convertibility peg
Report
If resolution does not come before Friday (both political and on Letes swap), expect a very long weekend in Buenos Aires as G-8 leaders meet in Genoa.
For now, holding pattern continues as no news is the news. Latest figures from the central bank (from Thursday) show continued hemorrhaging of foreign reserves. Capital flight is a key risk factor in the pace of crisis. FRB debt trading below August 1998 lows. Despite hue and cry of contagion fears, debt markets outside of Argy still holding up. Wall St., Pennsylvania Ave. (WH and UST), and IMF still on the same talking points about rhetorical support but no new funds committed. Even in the currency channel the resilience of the Mexican peso, Chilean peso has been notable. In Brazil, the real continues to bear the brunt of the assault, but the steepness of the slide has attenuated. Further evidence of 'Brazil-as-defensible' line from the investment community in concert with behind the scenes IMF and governments support.
Opposition political (Peronist) leadership and several provincial governors have yet to lend support for President De La Rua's austerity plan. Despite repeated expectations of agreement from Friday evening on, the Peronist governors have stalled, arguing that they cannot commit until the governing coalition has agreed its plan between its partners. Alfonsin and leftwing Radicals and junior coalition Frepaso party continue to seek adjustments to the De La Rua-Cavallo austerity package in order to protect their working class and lower middle class bases. Rhetoric continues to reinforce nationalist populist imperatives.
Cavallo's team started spreading the rumor in Argentina that the US was going to help (e.g., telling friends about Cavallo's call to Condi Rice), hoping to spur confidence; instead forced the US to deny it. Bush's letter to De La Rua offered little more than to say that our prayers are with Argentina. A national unity government might not include Cavallo if Alfonsin and leftwing of Radical party gains sway in negotiations.
The economic team is initiating conversations with the privatized companies (including utilities) and banks in order to push them to pay next year's taxes in advance. The goal is to collect $2 bil. This number will cover the estimated deficit for the 2H01 ($1.5bil.). The banks should advance $1 bil., and the privatized companies another $1 bil. Repsol has already agreed to advance $150 mil. Cavallo talked personally with the Presidents of the Spanish companies (Telef?nica, Telecom, Endesa, etc.) and some Italians. If successful, these collections will improve this year's numbers and would satisfy Alfonsin and the left wing by allowing normal social spending.
Repeat of drip, drip of market information ala May-June 'mega-swap'. Goal: swap $4.8 bil. in 91-day debt still to be auctioned during remainder of 2001 into a 1-year bond, a structured product for domestic pension funds, and/or special mutual funds. Details promised by Wednesday. Optics tied to political bargaining. Last Letes auction though fully funded to $800+ mil. goal was not oversubscribed as usual and primary dealers unable to pass it along. |
In another surprise move, the PUC approved an Edison bailout today on a 5-0 vote. This item was not on the Commission's agenda other than as a placeholder regarding "litigation." We do not have copies of the agreement but we just talked to Edison's SVP of Regulatory Affairs and here's a summary:
The Commission will keep current rates in place through 2003
Any "overcollection" resulting from keeping current rates in place will go to paying off $3.3 B in Edison's past due accounts (the so-called "undercollection")
If Edison collects the $3.3B prior to 2003, then rates can change
If Edison has not collected the $3.3 B by the end of 2003, the PUC will create a dedicated rate component on all bills to collect the remainder. Half the remainder will be collected in 2004 and the other half in 2005.
Any refunds received from litigation against suppliers will go to reducing the $3.3 B undercollection.
Edison can keep 10% of any refunds received after the $3.3B is paid off.
Edison cannot pay any dividends during the time that it is using rates to pay off the $3.3B.
Edison can apply to the PUC for approval to hedge gas price risk.
Edison will be protected from any increases in DWR contract costs (i.e., if DWR's costs go up, the PUC will raise rates rather than take it out of Edison's rates)
The PUC will not fine Edison during this period if Edison's capital structure varies from the PUC-approved capital structure
Edison must drop its lawsuits against the PUC regarding 1) the "filed rate doctrine" and 2) the so-called "TURN" accounting method, which effectively kept the rate freeze in place.
Edison agrees to "cooperate" with the Attorney General and the PUC in all litigation against suppliers.
The PUC decision could likely nullify the need for the "special" session that the Governor recently announced
We will report back with additional details as soon as we get them.
Best,
Jeff
-----Original Message-----
From: Dasovich, Jeff
Sent: Tuesday, October 02, 2001 2:45 PM
To: Kean, Steven J.; Belden, Tim; Sharp, Vicki; Blachman, Jeremy; Comnes, Alan; Tribolet, Michael; Walsh, Kristin; Delainey, David; Leff, Dan; Frazier, Lamar; Keeney, Kevin; Gahn, Scott; Swain, Steve; Lavorato, John; Kaufman, Paul; Steffes, James D.; Calger, Christopher F.; Mara, Susan; Black, Don; Richter, Jeff; Kitchen, Louise; Dietrich, Janet; Mara, Susan; Robertson, Linda; Kingerski, Harry; Denne, Karen; Palmer, Mark A. (PR); Shapiro, Richard; Curry, Wanda; Mellencamp, Lisa; Higgason, Kelly; Whalley, Greg; Mellencamp, Lisa
Subject: California Update--10.02.01: PUC Turns Down Davis' Proposed Rate Agreement with DWR
In what will likely be viewed as a fairly shocking event, the California PUC today voted down Davis' proposed rate agreement between DWR and the CPUC.
The vote was 4-1, with the two Republicans voting with Davis' hand-picked appointees Lynch and Wood.
Davis' proposal was introduced at the meeting by another Davis appointee--Geoff Brown--who made a lengthy speech about why California would experience economic and political destruction if the PUC did not approve Davis' proposed rate agreement.
What is Davis' proposed rate agreement between DWR and the CPUC?
It would remove all PUC authority to review any contracts between DWR with suppliers.
It would require the PUC to pass through to utility rates all DWR power contract costs, no questions asked.
What are the implications of the move by the PUC to reject Davis' proposal?
With the vote, it remains unclear how California/DWR will pay for the DWR power contracts.
The political pressure to re-negotiate--or break--the DWR power contracts is likely to intensify considerably.
It remains unclear how California/DWR will pay for the $12.5 B in bonds the Treasurer has unsuccessfully attempted to issue for past several months.
Under the structure devised by Davis, the revenues flowing from the CPUC/DWR rate agreement would be used to both 1) pay for the DWR power contracts and 2) service the bonds the Treasurer is trying to issue to repay California's General Fund for spot and other short term power purchased by DWR since January.
In short, there is no clear indication of how California will pay for DWR contracts or issue the bonds.
Safe to say that today's PUC vote has seriously embarrassed Davis, and left his approach to "solving" California electricity crisis in shambles.
What Next?
A broad left-right coalition of energy interests supported a bill (18XX) that passed the Legislature with broad bi-partisan support.
The bill would create a "dedicated rate component" on every customers bill to service the $12.5 B in bonds that the Treasurer wants to issue.
Proponents of the bill--and just about everyone else--argue that the "dedicated rate component" is a signficantly more efficient way to raise the debt California needs to plug the hole in its budget.
The bill is silent, however, on how California would pay for the DWR contracts, and the bill's opponents claim that the power suppliers will sue as a result.
All four PUC commissioners who voted against the Davis rate agreement today urged Davis to sign the bill. The left-right coalition (from Nader types to oil companies) is also working hard to get Davis to sign it.
Davis has said that he will veto the bill on the advice of the Treasurer and bond counsel.
Given today's vote, however, Davis may have no alternative than to sign the bill if he wants to get the bonds issued and the state budget repaid.
Update on Edison Bailout
Still appears that chances are very small that Edison and Davis will succeed in getting the Legislature to vote for an Edison bailout when it returns for another "special" session next Tuesday.
If you have any questions, just let us know.
Best,
Jeff |
This article from NYTimes.com
has been sent to you by [email protected].
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The Real Wolf
RECKONINGS
By PAUL KRUGMAN
ecently I received a letter from an economist I respect, chiding me
for my "Naderite" columns on the California energy crisis. He just
didn't believe that market manipulation by power companies could
possibly be an important issue; it sounded too much to him like the
sort of thing one hears from knee-jerk leftists, who blame greedy
capitalists for every problem, be it third-world poverty or high
apartment rents. The left has cried "Wolf!" so many times that
sensible people have learned to discount such claims.
But now a bona fide wolf has arrived, whose predatory behavior is
doing terrible damage to our most populous state * and nobody will
believe it.
True, California would be heading for a summer of power shortages
even if it had never deregulated. And even if there was workable
competition in the wholesale electricity market, prices in that
market would spike during periods of peak demand, transferring
billions of dollars from either taxpayers or consumers to the
generators.
But the evidence is now overwhelming that there isn't workable
competition in California's power market, and that the actions of
generators "gaming the system" have greatly magnified the crisis.
The key fact is that California has somehow remained in a state of
more or less continuous power shortage and very high wholesale
prices regardless of the level of demand. A rash of outages has
kept the electricity market conveniently * and very profitably *
short of supply even during periods of low demand, when there ought
to be lots of excess capacity.
As Frank Wolak, the Stanford economist who also advises the
state's power grid, has pointed out, an outage at a power plant is
a lot like an employee calling in sick. You can't tell directly
whether he is really sick or has chosen to take the day off for
other reasons, but you can look for circumstantial evidence. And
such evidence has convinced Mr. Wolak that "generators use forced
outages strategically to withhold capacity from the market" * a
view shared by a growing number of other researchers.
Which brings us to the latest move by the Federal Energy
Regulatory Commission. On Wednesday, the commission apparently
decided to offer California some relief, and put new price caps in
place on the California electricity market. I say "apparently"
because the more you look at the plan the less likely it seems to
be any help at all. Indeed, the measure was passed on a 2-to-1
vote, with William Massey * the one commissioner who has been
sympathetic to calls for price controls * voting against it on the
grounds that it would be ineffectual.
What's wrong with FERC's plan? First, it caps prices only in
emergency conditions * ignoring the fact that electricity prices
have stayed at hard- to-explain levels even when there is no
emergency. In effect, the plan is laid out as if the electricity
market were really competitive, in spite of all the evidence that
it is not.
Second, even those emergency price caps are full of loopholes,
offering extensive opportunities for what Mr. Wolak calls "megawatt
laundering" * selling power to affiliated companies that for one
reason or another are exempted from the price controls (for
example, the controls do not apply to "imports" from neighboring
states), then selling it back into the California market. Severin
Borenstein of the University of California Energy Institute adds
that because the allowed price depends on the cost of generation at
the least efficient plant, generators will have a clear incentive
to produce inefficiently: "I predict we will find some plants we
never heard of before that are suddenly operating again, and they
will be pretty inefficient."
The general verdict seems to be that this is not a serious plan.
There are serious proposals to mitigate the crisis out there *
indeed, last fall Mr. Wolak submitted a proposal that was well
received by other experts * but FERC has ignored all of them.
The charitable interpretation is that FERC still doesn't get it,
that it just can't bring itself to believe that this time the wolf
is real. The uncharitable interpretation is that last week's action
was meant to fail. The Medley Report, an online newsletter, calls
the FERC plan "a grand exercise in posturing without substance . .
. a very clever temporary move by the Bush administration to
deflect any political fallout" from the looming disaster.
Whatever the explanation, the plain fact is that FERC and the
administration have yet to offer California any significant
relief.
http://www.nytimes.com/2001/04/29/opinion/29KRUG.html?ex=989601563&ei=1&en=6a9
00f004b3b1abf
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---------------------- Forwarded by David M Gagliardi/TTG/HouInd on
04/03/2001 09:41 AM ---------------------------
"Michael Gagliardi" <[email protected]> on 04/03/2001 09:18:30 AM
To: <[email protected], [email protected],
[email protected]>
cc:
Subject: Fw: True Orange Fax/E-M ail #43
----- Original Message -----
From:[email protected]
Sent:?Monday, April 02, 2001 11:02 PM
To:[email protected]; [email protected]
Subject:?True Orange Fax/E-M ail #43
True Orange Fax/E-Mail Service
Volume 9, Fax/E-Mail #43, Monday, April 3, 2001
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone=
=20
512-795-8536
Longhorns Will Wrap Up Spring Football Drills Wednesday
The Longhorns worked out in shorts Monday, and coach Mack Brown said the
tea=
m=20
will practice Tuesday at? 4 p.m. and then scrimmage Wednesday, probably at
5=
=20
p.m., to wrap up what he termed "our best spring? since we've been here."
Brown said the Tuesday practice will be at the Denius Fields and the=20
Wednesday scrimmage will be at Royal Memorial Stadium. He said he would=20
announce a time for the scrimmage at Tuesday's practice.
NCAA rules require that three of the 15 spring practices be in shorts,
and=20
Brown said that was the reason the team practiced in shorts Monday. "We=20
practiced in shorts the first two days, and we had to get a third day in=20
shorts," he said.
The Horns worked primarily on their passing game because it's hard to do
muc=
h=20
on the running game in shorts. QB Chris Simms continued to look very
sharp,=20
and sophomore TEs Bo Scaife and Brock Edwards both made several
outstanding=20
catches. Everyone knows about the Longhorns' fine WRs, but there won't be
a=20
better pair of TEs in the Big 12 than Scaife and Edwards. There might not
be=
=20
a better pair in the country.
Brown said the Longhorns will have more speed on defense this season
than=20
they have had since he got here. "Everything we're doing is trying to get
th=
e=20
fastest guys on the field," he said, noting that former LB O. J.
McClintock=20
is doing a good job of pass rushing at DE, and former DE Maurice Gordon
is=20
doing the same at DT.=20
"In each case, those moves were made to increase our speed," he said.
* * * *
If you saved the class chart in my March 12 newsletter, take a look at
the=20
players in each class and see how many top hands you see. I did that
today=20
and I counted nine fine players in the sophomore class, plus three others
wh=
o=20
might be fine players, too. No other class has more than five, although
the=20
12 redshirted freshmen might produce more than that.
I'm not going to identify the guys who I think are really good in each
class=
=20
because then it would be obvious which starters I don't think are really=20
good. I try to avoid being overly critical of any of the kids,? so I
would=20
suggest you look at the class chart, too, and see how you think the
various=20
classes rank.
One other important thing to note is that senior CB Quentin Jammer is an=20
outstanding player who is projected to be the first defensive back picked
in=
=20
the next NFL draft. But he has a very hard time covering either of the=20
Longhorns' pair of star sophomore wide receivers (Roy Williams and B. J.=20
Johnson) on a consistent basis.
Opposing teams usually double cover Williams, which means Johnson and
the=20
tight ends draw single coverage. That is going to make the Longhorns'
passin=
g=20
game more potent than ever this season.
Scaife is regaining the form he showed last spring before injuring his
knee=20
during the pre-season workouts. If he hadn't missed last season, I think
the=
=20
Longhorns would have gone 11-1. Obviously, he wouldn't have made that
much=20
difference in the 63-14 loss to Oklahoma, but I think he would have made
a=20
big difference in the narrow losses to Stanford and Oregon. The
Longhorns=20
were building their passing offense around him before his injury, and he=20
would have helped buy time for the true freshmen wide receivers to begin=20
helping out.
* * * *
RECRUITING NOTES: The Longhorns are leading for a great wide receiver=20
prospect from Champaign, Illinois. He is Marquis Johnson, 6-3, 190, 4.4.
UT=20
assistant Tim Brewster, an Illinois graduate, is handling the
recruiting.=20
Johnson says he already has an offer from Illinois, but he says Texas
leads=20
Illinois, FSU, Michigan and Notre Dame. He said he might come to a UT
camp=20
this summer. Johnson is a national top 100 prospect heading into his
senior=20
season.
* * * *
Texas basketball assistant coach Rob Lanier has decided not to pursue
the=20
head coaching job at St. Bonaventure, his alma mater. He said he sees
"great=
=20
potential that exists for our basketball program here at Texas," and
feels=20
"confident that is it in my best interest to continue assisting coach
(Rick)=
=20
Barnes in maing our program here at Texas one of the best in the country."
* * * *
My next e-mail/fax will be Tuesday, April? 3.
* * * *
The True Orange Fax Service includes? at? least? 99 fax/e-mails? a year
and=20
costs $99 ($79 by E-Mail). The True Orange Newsletter includes? 26=20
newsletters and is published weekly during football season and twice
monthly=
=20
during most of the other months. It costs $45. Save by subscribing to
both=20
for $130 (or $110 if you take the faxes via E-Mail? or $99 if you take
the=20
faxes and newsletter? via E-Mail). Send check? to address at the top of
page=
.=20
I also? update my 900 number =96 1-900-288-8839 =96 frequently with
recruiti=
ng=20
news. My E-Mail address is: [email protected] |
Ben,
What's up?
Kay
From: Ben F Jacoby @ ECT 01/04/2001 02:57 PM
Sent by: Ben Jacoby@ECT
To: "Campbell, Carolyn" <[email protected]> @ ENRON
cc: "'[email protected]'" <[email protected]>@ENRON, "Keffer, John"
<[email protected]>@ENRON, Fred Mitro/HOU/ECT@ECT, Chris Booth/NA/Enron@Enron
Subject: RE: Turbine / Transformer Prototype Documents
Please provide me with copies of these documents, and we'll make the changes.
Thanks.
Ben
"Campbell, Carolyn" <[email protected]> on 01/04/2001 01:40:40 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>, "Keffer, John"
<[email protected]>
Subject: RE: Turbine / Transformer Prototype Documents
Ben:
Substantive revisions were made (changing the earnest money concept to a
development fee concept, more complete termination provisions, replacing
confidentiality provisions with reference to a confidentiality agreement,
elimination of provisions addressing mediation) and the prototype documents
were recirculated on 12/15/2000. However, the 12/15/2000 drafts of the
documents make specific references to NRG Thermal and contain specific dates
that would no longer be relevant. We would recommend further revision to
address these matters before circulating for another potential transaction.
Carolyn Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, January 04, 2001 1:19 PM
To: Campbell, Carolyn
Cc: [email protected]; [email protected]; [email protected]
Subject: Re: Turbine / Transformer Prototype Documents
Carolyn:
Are these the most recent form documents, or were there any material
changes made when we were dealing with NRG on the LM6000s? Please let me
know.
Regards,
Ben
"Campbell, Carolyn" <[email protected]> on 12/14/2000 04:26:00 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Keffer,
John" <[email protected]>
Subject: Turbine / Transformer Prototype Documents
<<2RZ501!.DOC>> <<2R6LRED.DOC>> <<2RZ601!.DOC>> <<2RLSRED.DOC>>
<<2RZ5RED.DOC>> <<2RZ801!.DOC>> <<2RSWRED.DOC>>
We have enclosed initial drafts of the following documents:
1. Letter Agreement for the Turbine Transaction (clean copy and
blacklined copy marked to reflect revisions from the current draft of the
turbine letter agreement with Coral);
2. Letter Agreement for the Transformer Transaction (clean
copy, blacklined copy marked to reflect revisions from the current draft of
the transformer letter agreement with Coral, and blacklined copy marked to
reflect revisions from the turbine letter agreement referenced as item no.
1
above);
3. Limited Liability Company Agreement (clean copy and
blacklined copy marked to reflect revisions from the current draft of the
LLC agreement for CA/ED-II).
As mentioned on the telephone, I have retained a number of the
representations and warranties requested by Coral, with modifications where
necessary to eliminate those aspects which were objectionable to Enron.
The
justification for this is that nearly any purchaser would insist on such
representations, and it is often more advantageous to present a draft that
appears to be neutral, rather than allow the counterparty to focus on what
is not there and then have the advantage of drafting precisely what it
wants. Therefore, we suggest that Enron carefully review the
representations and warranties in order that any objectionable items can be
eliminated before circulation of documents to the counterparty. Because we
rearranged and reorganized the representations and warranties to make a
more
clear presentation, the blacklined drafts will not be very helpful fur
purposes of reviewing representations and warranties.
Please review the enclosed at your convenience and advise of any comments.
Thank you.
Carolyn M. Campbell
King & Spalding
713-276-73-7 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
Enclosures: 129569v1
129569v1 from 128541v14
129570v1
129570v1 from 129088v6
129570v1 from 129569v1
129572v1
129572v1 from 129344v1
Confidentiality Notice
This message is being sent by or on behalf of a lawyer. It is intended
exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are not
the named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it. If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.
(See attached file: 2RZ501!.DOC)
(See attached file: 2R6LRED.DOC)
(See attached file: 2RZ601!.DOC)
(See attached file: 2RLSRED.DOC)
(See attached file: 2RZ5RED.DOC)
(See attached file: 2RZ801!.DOC)
(See attached file: 2RSWRED.DOC)
Confidentiality Notice
This message is being sent by or on behalf of a lawyer. It is intended
exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it. If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message. |
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 |
Here is a summary of recent developments:
Natural Gas and Electricity Class Action Complaint Against El Paso
Two plaintiffs attorneys filed a class action complaint alleging
anti-trust and unfair competition against El Paso and 100 Does for inflating
natural gas prices and the price of electricity. The complaint alleges that
this was done by withholding capacity on the El Paso and Trans Western
pipelines.
<<gascomplaint.pdf>>
Ron Carroll's Analysis of Private Cause of Action
One of the assignments from our Portland meeting was to find out
whether or not there was a private right of action (or prohibition of same)
under the Federal Power Act. Here is Ron Carroll's response:
The courts have refused to create a private cause of action for
violations of the FPA, stating that the regulatory scheme created by
Congress vested the regulatory body with the power to pursue enforcement.
See Clark v. Gulf Oil Corp., 570 F.2d 1138, 1149 (1977) (pertaining to the
recovery of losses due to allegedly unlawful rates under the NGA); City of
Gainesville v. Florida Power & Light Co., 488 F. Supp. 1258, 1277-78 (S.D.
Fla. 1980) (noting that the legislative history of the NGA, which was
modeled after the FPA, does not suggest the existence of any private rights
of action).
Dave Noonan's Report on Defense Counsel Teleconference on Monday
Chris Healy has just advised me that the call will take place on
Monday, December
18 at 10:30 am (PST) to discuss removal issues in the Hendricks
case. The
dial-in number for the call is 1-866-855-6338, password 8315.
<<QDV#01!.DOC>> <<QF2Z01!.DOC>>
Also, Morgan Stanley is rep'd by Jeff Davidson of Kirkland&Ellis
[L.A].
Data Preservation
Steve Hall and others have been working on making sure that the
California AG's request to preserve evidence has been complied with. EPMI
will probably be extending the period that it keeps backup tapes, making
copies of hard drives from individual computers etc.
FERC Developments
Secretary of Energy Richardson issued an emergency order requiring
EPMI to market energy to the ISO. In addition, another emergency order was
issued today. I enclose the order and the press release. The Press release
for today's order is included below. The FERC special meeting on California
was videotaped by Nancy Pickover of Bracewell and is being sent to us.
<<202corder.pdf>> <<Califnotice.pdf>> <<dec15caorder.pdf>>
Dan Watkiss Analysis of FERC Order re Penalties for Refusal to sell Energy
Last Friday, the ISO filed with FERC Amendment No. 33 to its tariff.
Among other things, the Amendment adds to the section 5 of the tariff new
provisions empowering the ISO to assess a penalty against Participating
Generators that refuse to operate in response to an ISO Dispatch instruction
during a System Emergency or when the ISO is acting to avoid an imminent or
threatened System Emergency. The penalty is stiff: (1) a charge for each
MWh of the Dispatch instruction with which the Participating Generator does
not comply equal to twice the highest price for Energy, per MWh, paid in
each hour by the ISO to any other entity to produce Energy; and (2) if the
ISO is required t call for the involuntary curtailment of firm Load to
maintain Applicable Reliability Criteria during the System Emergency, then
an additional charge equal to $1,000 for each MWh of the Dispatch
instruction with which the Participating Generator does not comply. The
only defense to these penalties is to provide proof that the generating unit
in question was physically incapable of running or it would have violated
state or federal law to run it (e.g., air emission allowance limits). The
ISO asked FERC for an immediate effective date of December 8, which FERC
granted in a December 8 order.
The ISO Tariff defines "Participating Seller or Generator" to mean
"A generator or other seller of Energy or Ancillary Services through a
Scheduling Coordinator over the ISO Controlled Grid and which has undertaken
to be bound by the terms of the ISO Tariff." If Enron is a Participating
Generator (Mary Hain informs me that Enron is not one), then it risks
incurring the new penalty if it fails to respond to an ISO order to sell
ancillary services to the ISO. I believe Enron might also risk incurring
the penalty in cases where it controls or has rights to all or a portion of
a generating capacity of a Participating Generator's unit. If that capacity
is called on and the call is not answered because Enron is making some other
use of the capacity, the Enron may incur the penalty . This seems to be
contemplated by section 4.1.1 of the Participating Generator Agreement which
obliges a Participating Generator to comply with the tariff (section 5.3) by
identifying the Generating Units that it owns, operates or has a contractual
entitlement to in Schedule 1, as required by Section 5.3 of the ISO Tariff.
(emphasis added). As far as I know, it is that Schedule 1 that the ISO
consults when making decisions as to which Participating Generator to call
on.
Thanks
Gary
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http://www.brobeck.com
- gascomplaint.pdf
- QDV#01!.DOC
- QF2Z01!.DOC
- 202corder.pdf
- Califnotice.pdf
- dec15caorder.pdf |
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This is your Personal Company Sleuth Report for Tuesday December 12, 2000.
----------------------
Your Stakeout Companies
-----------------------
Here are the new items Company Sleuth found on your stakeout companies last
night.
Synagro Technologies Inc. (SYGR)
Tech. Trading...................6
To view this company's report, go to:
http://www.company.sleuth.com/index.cfm?ticker=SYGR
mPhase Technologies, Inc. (XDSL)
Raging Bull Msg.................63
To view this company's report, go to:
http://www.company.sleuth.com/index.cfm?ticker=XDSL
Ames Department Stores (AMES)
Tech. Trading...................5
To view this company's report, go to:
http://www.company.sleuth.com/index.cfm?ticker=AMES
Ameritrade Holding Corp. (AMTD)
Raging Bull Msg.................10
Yahoo Msg.......................39
Tech. Trading...................4
News............................3
Rabbitt Ratings.................1
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Best Buy Company, Inc. (BBY)
Yahoo Msg.......................37
Motley Fool Msg.................3
Tech. Trading...................5
News............................3
TVAlerts........................4
Rabbitt Ratings.................1
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CNBC Msg........................1
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Copyright 2000 Infonautics Corporation http://www.infonautics.com |
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. |
I understand Sara is running with this one.
Alan
Sheila Glover
05/30/2001 10:11 AM
To: Sara Shackleton/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron
cc: John Greene/Enron@EUEnronXGate
Subject: Foreign Listed Equity Options - GS update
Sara, Alan and Robert,
Who is the appropriate legal person to review this item?
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/30/2001 10:09
AM ---------------------------
From: Sheila Glover 05/24/2001 10:37 AM
To: John Greene/Enron@EUEnronXGate, David J Vitrella/Enron@EnronXGate, Selena
Gonzalez/Enron@EnronXGate, Gary Hickerson/Enron@EnronXGate, John
Weakly/Enron@EnronXGate, Mark Schlueter/Enron@EnronXGate
cc: Aneela Charania/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Donna Lowry/Enron@EnronXGate, Lance
Schuler-Legal/Enron@EnronXGate
Subject: Foreign Listed Equity Options - GS update
I spoke with Kara Saxon and Margo Topman, Goldman Sachs Legal, 212-902-9982.
Per our conversation ....
Foreign Listed Equity Options are considered Unseasoned securities because
they are issued on the date purchased and not widely held (from U.S. point of
view). GS has reviewed our ability to trade Foreign Listed Equity Options
vis-a-vis REG S. Goldman says that we can execute from our London Office
(not from States) Foreign Listed Equity Options. We can settle and hold with
our current account, documentation and legal structure with Goldman Sachs.
Margo said that there is some risk but they do not think it is large. She
suggested we do a follow-up with our Securities counsel.
Sheila
Sara,
Can we run this by someone? Margo offered herself as a contact if we need
more infomation.
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/24/2001 09:25
AM ---------------------------
From: Sheila Glover 05/23/2001 02:00 PM
To: John Greene/Enron@EUEnronXGate, David J Vitrella/Enron@EnronXGate, Selena
Gonzalez/Enron@EnronXGate, Gary Hickerson/Enron@EnronXGate
cc: Aneela Charania/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Donna Lowry/Enron@EnronXGate, Lance
Shuler/ENRON@enronxgate
Subject: Foreign Listed Equity Options
Goldman Sachs has given us the go-ahead to do Foreign Listed Equity Options.
Kara Saxon at Goldman called me today and will follow-up with an e-mail.
Goldman Sachs legal has said that we can trade as we currently do as ECT
Investments, Inc. This includes the whole European market. I asked her to
check on Canadian and Australian.
I will forward Kara's e-mail tomorrow.
Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/23/2001 01:53
PM ---------------------------
"Saxon, Kara" <[email protected]> on 05/23/2001 12:52:28 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: FW: Enron North America
Sheila-
I promise I will send you that email tomorrow am. I got tied up and I have
to get going.
Kara
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, May 22, 2001 9:47 AM
To: [email protected]
Cc: [email protected]
Subject: RE: FW: Enron North America
Kara,
Thanks for following up on this important ability for us..
Sheila
"Saxon, Kara" <[email protected]> on 05/22/2001 08:32:02 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: FW: Enron North America
Legal and compliance have made progress. They have promised to get back to
me by Wednesday or Thursday. I will give you a call as soon as I get the
good word.
Thanks,
Kara
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, May 18, 2001 10:00 AM
To: [email protected]
Subject: RE: FW: Enron North America
Kara,
Any progress on the European Listed Options?
Thanks. Sheila
"Saxon, Kara" <[email protected]> on 05/14/2001 11:34:20 AM
To: "'[email protected]'" <[email protected]>
cc: [email protected]
Subject: RE: FW: Enron North America
Sheila-
I just left you a voicemail. My 2 follow up questions on the European
listed options are:
What is the title of the person in London who would be making the
investment
decisions doe Enron?
Does Enron have any foreign subsidiaries?
Thanks,
Kara
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, May 02, 2001 2:34 PM
To: [email protected]
Cc: [email protected]
Subject: Re: FW: Enron North America
yes, European listed. sg
"Saxon, Kara" <[email protected]> on 05/02/2001 01:27:45 PM
To: "'Sheila Glover'" <[email protected]>
cc:
Subject: FW: Enron North America
Sheila-
You are interested in trading European listed options and not OTC Euro
options - correct?
Thanks,
Kara
> -----Original Message-----
> From: Anthony, John P
> Sent: Wednesday, May 02, 2001 1:10 PM
> To: Saxon, Kara; Bradley, Oonagh; Veasey, Andrew T; Morris, Damian;
> Breckenridge, Jonathan E.
> Cc: Dunn, Jeremy; Threlfall, Tom; Arens, Joseph; Sibeud, Eugenie B;
> Brogard, Yves-Francois; Oreilly, Cathy; Hobson, Carol
> Subject: RE: Enron North America
>
> not sure i have all the facts straight here but here are my thoughts-
> 1) US funds with US investment mgr would not be permitted to have a
> direct relationship with GSI for European Listed Options.
> 2) They may be able to deal with GSI on an agency basis, but i would
> think the product would be an OTC Euro Option.
>
> Is this any help? i am cc Legal in London and NY in case they have a
> different view.
> |
BUSINESS HIGHLIGHTS
Enron Industrial Markets
The Transaction Development group (TD) is responsible for corporate development, transaction execution and portfolio management activities within EIM. TD is responsible for asset and corporate acquisitions to support EIM's efforts in the Forest Products and Steel industries. TD works with EIM's Forest Products and Steel Origination groups to structure and execute complex transactions for EIM's customers. TD also manages EIM's equity investments, such as EIM's ownership position in Papier Masson, Ltee, a paper mill in Quebec, Canada.
TD is comprised of approximately 20 professionals with a wide range of backgrounds including investment banking, commercial banking, management consulting, law, project development, accounting and engineering. In addition, the majority of the analysts and associates within EIM work in TD since it provides a strong base of deal experience for junior members of our organization.
Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services offered to its customers and completed several flatbed truck moves outbound from Georgia this week. There was a shortage of flatbed equipment supply in this market and EFM was able to obtain more than three times the normal margin on each move.
IN THE NEWS
"Enron's bilateral internet trading platform, EnronOnline, was launched in November 1999 and is the largest e-commerce site on the planet based on the value of its transactions. As EPRM went to press, it had average daily trading volume of $3.5 billion, accounting for nearly 50% of the company's revenues from wholesale marketing activities." -- Energy Power Risk Management, May 2001
WELCOME
New Hires
EIM - Cheryl Lindeman
ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale, Sarah Wooddy
Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow
NUGGETS & NOTES
Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376. This is a great event for "new" as well as established customers. There will be a cocktail reception immediately after the presentations. Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco. Dates to be announced soon.
Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,000 of flight insurance at no additional charge.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.
* Total Life to Date Transactions > 1,015,000
* Life to Date Notional Value of Transactions > $610 billion
NEWS FROM THE GLOBAL FLASH
Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market by arranging the first gas import into Italy. The Italian team worked with the Continental Gas desk to arrange this strategically important agreement with Blugas SpA., the wholesale gas company formed by the municipalities of Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced 100,000 cubic metres per day of natural gas from northern Europe to transport to Italy, transiting it through Germany and Switzerland, despite fierce resistance from Ruhrgas and TransitGas respectively.
Aside from isolated LNG imports by incumbent monopolies this is the first time that any company has managed to import natural gas by pipeline into Italy since the Italian gas sector was officially liberalised in August 2000. The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be used to meet the needs of two thirds of Blugas' residential customers within the four municipalities. The current contract lasts for five months.
Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh, Marco Lantieri and Daniela Uguccioni.
Enron in the Middle East
Enron has relinquished its stake in Dolphin Energy, the joint venture company formed to develop gas reserves in Qatar.
Enron has agreed to transfer its 24.5 per cent stake in the project to the United Arab Emirates Offset Group (UOG), the majority shareholder. The agreement allows Enron to deploy capital elsewhere and gives UOG the opportunity to seek new partners before the project moves into its next phase.
Development of the Emden/Oude gas hub moves ahead fast
An important milestone in the evolution of the new gas trading hub on the Dutch-German
border was reached last week. Last Friday some of the major European gas players held a meeting to officially establish the Emden/Oude gas hub. Although Enron had already initiated the development of the Emden/Oude hub by making a market through EnronOnline as early as December 2000, the goal of this meeting was to set up a working group similar to the Zeebrugge focus group who can work on setting a legal framework for the Emden/Oude hub.
Enron was elected as the only new market entrant in this group, reflecting the high level of respect industry peers have for Enron as a major player in the Continental gas market -- even from incumbents!
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed.
<Embedded Picture (Metafile)> |
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SIVY ON STOCKS from money.com
December 11, 2000
Bad news bulls
The news may be rotten for semiconductor stocks, but investors are betting
on a rebound for leaders like Intel.
By Michael Sivy
Over the past few months, I've been warning readers that the technology
sector remains in a broad downtrend that could last well into next year.
Nonetheless, when tech stocks have been beaten down badly enough, shares of
the strongest companies can rebound even in the face of continuing bad
news, provided their long-term prospects are good enough.
Exactly that sort of bad-news rebound has occurred for Applied Materials,
the leading maker of semiconductor manufacturing equipment. Last week I
wrote that the battered stock would remain volatile and could face a
further decline of 10 percent to 15 percent. But I concluded that the
shares were so cheap at $38.50 that the upside was 10 times as great as the
downside. That proved true a lot faster than I expected. In the five
trading days since that column ran, the stock has jumped 32 percent to
nearly $51 a share.
Admittedly, my good timing was largely luck, but the power of Applied
Materials' comeback is a signal that other leading semiconductor stocks
also may have fallen too far. As a rule, if you're considering stocks in
the midst of bad news, it's smartest to stick with industry giants that
have bullet-proof balance sheets. You can be confident that they'll ride
out whatever bad conditions lie ahead, and they may even benefit as smaller
competitors are forced to give up market share.
On that basis, I'd certainly be inclined to look at Intel. Though it's the
world's leading chipmaker, with $34 billion in annual sales, Intel has
spent the year fouling up. Among the more spectacular errors, the company
ran short of capacity because it underestimated demand last year and cut
back capital spending. In addition, glitches were discovered last summer in
Intel's turbocharged Pentium III, and many of the chips had to be recalled.
Frankly, none of those failures will have much long-term impact. Intel
remains the industry's 800-pound gorilla and long-term earnings growth is
projected at more than 20 percent a year. Most analysts see continuing
weakness in the chip market for the next six months, but see the cycle
swinging up by late next year.
In September, Intel warned that third-quarter earnings would be lousy, and
the stock fell by $13 to $48 a share. At the time, I wrote that the stock
was down to buyable levels but that it wouldn't rebound right away. Over
the next three months, Intel sank to less than $32 amid a general selloff
in technology. But after announcing on Friday that fourth-quarter results
would be disappointing because of soft personal-computer sales, Intel
rallied. On Monday, investors followed through by bidding the stock up
another $3.50 to $37.50.
Investors are clearly betting that the worst is over. And with the stock
only about 20 percent above its lows (and 50 percent off its highs), I
think it makes sense to get on board. After revising their 2001 estimates
downward, analysts expect Intel to earn about $1.50 a share next year. At
the current share price, that's a 25 P/E -- cheap for a 20 percent core
growth rate. If Intel is missing from your portfolio, this may well be your
best opportunity for years to come.
=============================
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MONEY's Laura Lallos tells you how to select the best mutual funds
for you, and how to protect your investments in a volatile market.
http://www.money.com/chat/2000/001208a.html
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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." |
FYI.
----- Forwarded by Jeff Dasovich/NA/Enron on 07/06/2001 11:00 AM -----
William Booth <[email protected]>
07/05/2001 03:19 PM
To: "'[email protected]'" <[email protected]>, [email protected],
[email protected], [email protected], [email protected], William Booth
<[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], "John R. Redding (PS, NE) (E-mail)"
<[email protected]>, "Mike Florio (E-mail)" <[email protected]>
cc:
Subject: RE: Bond Leg Language, etc.
Jeff and all: I agree with your thoughts as to the need for amendments re
DA customers that have never purchased DWR power, call it amend. 1. I also
agree with your proposal re customers that leave bundled service for direct
access service only having to pay for the costs actually incurred by DWR on
their behalf, call it amend. 2. I think it is a stretch, however, to
propose an exemption for any customer that leaves bundled for DA by
September 1, call it amend. 3. This appears to be inconsistent with amend.
2. I agree with you re amend. 4, deletion of language ending DA. Bill
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, July 05, 2001 2:07 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]; John R.
Redding (PS, NE) (E-mail); Mike Florio (E-mail)
Subject: Bond Leg Language, etc.
Greetings:
Hope everyone had a pleasant 4th.
I've read the respective Burton and Hertzberg language on amending AB 1X.
The Burton language looks cleaner and simpler, though there may be reasons
to include some of the Hertzberg language, too.
I'm proposing to the group the following as potential amendments to the
bond bill. I would appreciate your feedback. The amendments would be as
follows:
Customers who were on Direct Access when DWR started buying power (Jan.
17th?), and are still on Direct Access when the bill passes, should be
exempt from paying for the bonds.
In short, customers should not be forced to pay for power twice--once from
their ESP, and once from DWR. Since these customers receive power services
from their ESP, they never consumed DWR power in the first place and it
wouldn't be fair to require them to pay for it.
Customers who have been utility customers since DWR started buying power
but subsequently switched to Direct Access should only pay for power
provided by DWR that they actually consumed, no more and no less.
For example, if a customer was a utility customer when DWR started buying
power but switched to Direct Access on May 1st, then the customer would
only be responsible for reimbursing DWR for power deliveries that took
place from Jan. 17th thru April 30th.
I believe that we agreed on these concepts during the negotiations that
took place over the past 4-5 weeks. Or if we didn't explicitly agree
during the talks, they seem to be principles on which we ought to be able
to agree pretty easily now. And rather than leave the issue hanging, which
can create unnecessary and costly uncertainty for customers, I suggest that
we include very clear and simple legislative language in the bond bill
clarifying what customers' obligations are. Your thoughts are appreciated.
In addition, we have talked quite a bit about providing customers with
incentives in the attempt to get California out of the energy hole that it
finds itself in. Providing (20KW and above) customers with an incentive to
switch to Direct Access as soon as possible could 1) reduce the net short
position that the state (and ultimately consumers) have to finance, thereby
reducing spot purchases and price volatility, 2) reduce electricity
purchasing costs, and 3) reduce the burden on the state budget.
With this in mind, I'm also proposing that the group consider an amendment
to the bond bill that would exempt from bond charges any customer that
switches to Direct Access by September 1st.
Finally, it seems odd that the language directing the PUC to suspend Direct
Access is still in the bill. If a dedicated rate component is created,
that seems to eliminate altogether the need to suspend Direct Access. And
if that's the case, would it make sense to delete that language from the
bill?
Look forward to your comments and working with you to get support for and
passage of the "core/noncore" proposal.
Best,
Jeff
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BUSINESS HIGHLIGHTS
Enron Industrial Markets
The Transaction Development group (TD) is responsible for corporate
development, transaction execution and portfolio management activities within
EIM. TD is responsible for asset and corporate acquisitions to support EIM,s
efforts in the Forest Products and Steel industries. TD works with EIM,s
Forest Products and Steel Origination groups to structure and execute complex
transactions for EIM,s customers. TD also manages EIM,s equity investments,
such as EIM,s ownership position in Papier Masson, Ltee, a paper mill in
Quebec, Canada.
TD is comprised of approximately 20 professionals with a wide range of
backgrounds including investment banking, commercial banking, management
consulting, law, project development, accounting and engineering. In
addition, the majority of the analysts and associates within EIM work in TD
since it provides a strong base of deal experience for junior members of our
organization.
Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services
offered to its customers and completed several flatbed truck moves outbound
from Georgia this week. There was a shortage of flatbed equipment supply in
this market and EFM was able to obtain more than three times the normal
margin on each move.
IN THE NEWS
"Enron's bilateral internet trading platform, EnronOnline, was launched in
November 1999 and is the largest e-commerce site on the planet based on the
value of its transactions. As EPRM went to press, it had average daily
trading volume of $3.5 billion, accounting for nearly 50% of the company's
revenues from wholesale marketing activities." -- Energy Power Risk
Management, May 2001
WELCOME
New Hires
EIM - Cheryl Lindeman
ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale,
Sarah Wooddy
Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow
NUGGETS & NOTES
Enron is hosting the Chicago Energy Risk Management Seminar at The Drake
Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural
Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper
Risk Management. The RSVP deadline is June 8th so please contact Laura Pena
as soon as possible at x 3-5376. This is a great event for "new" as well as
established customers. There will be a cocktail reception immediately after
the presentations. Enron will also be hosting seminars in Atlanta, Houston,
Denver and San Francisco. Dates to be announced soon.
Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,000
of flight insurance at no additional charge.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.
* Total Life to Date Transactions > 1,015,000
* Life to Date Notional Value of Transactions > $610 billion
NEWS FROM THE GLOBAL FLASH
Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market
by arranging the first gas import into Italy. The Italian team worked with
the Continental Gas desk to arrange this strategically important agreement
with Blugas SpA., the wholesale gas company formed by the municipalities of
Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced
100,000 cubic metres per day of natural gas from northern Europe to transport
to Italy, transiting it through Germany and Switzerland, despite fierce
resistance from Ruhrgas and TransitGas respectively.
Aside from isolated LNG imports by incumbent monopolies this is the first
time that any company has managed to import natural gas by pipeline into
Italy since the Italian gas sector was officially liberalised in August 2000.
The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be
used to meet the needs of two thirds of Blugas' residential customers within
the four municipalities. The current contract lasts for five months.
Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh,
Marco Lantieri and Daniela Uguccioni.
Enron in the Middle East
Enron has relinquished its stake in Dolphin Energy, the joint venture company
formed to develop gas reserves in Qatar.
Enron has agreed to transfer its 24.5 per cent stake in the project to the
United Arab Emirates Offset Group (UOG), the majority shareholder. The
agreement allows Enron to deploy capital elsewhere and gives UOG the
opportunity to seek new partners before the project moves into its next phase.
Development of the Emden/Oude gas hub moves ahead fast
An important milestone in the evolution of the new gas trading hub on the
Dutch-German
border was reached last week. Last Friday some of the major European gas
players held a meeting to officially establish the Emden/Oude gas hub.
Although Enron had already initiated the development of the Emden/Oude hub by
making a market through EnronOnline as early as December 2000, the goal of
this meeting was to set up a working group similar to the Zeebrugge focus
group who can work on setting a legal framework for the Emden/Oude hub.
Enron was elected as the only new market entrant in this group, reflecting
the high level of respect industry peers have for Enron as a major player in
the Continental gas market -- even from incumbents!
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries. It is intended for internal use only
and should not be disclosed. |
David
Thanks for this. I have reinstated the text dealing with the use by
Counterparty of information/content on the website, and have added a new
sentence at the end of 4(a) covering waiver of consequential losses for the
benefit of SHELL. I will now submit this to SHELL and await their response.
Thanks.
Justin
Enron Capital & Trade Resources Corp.
From: [email protected] 24/10/2000 22:53
To: [email protected]
cc: [email protected]
Subject: Re: ETA
Justin: Thanks for your note. I had the following thoughts.
1. I think the revised Section 4(b) set forth below in your mail is fine;
the only thing that I believe it leaves out (and I assume you are comfortable
not having it) is the counterparty's use of information or content on the
website. I had included that clause to cover situations in which the
counterparty uses information on the website but not in connection with an
EOL transaction (e.g., reliance on information in making trading decisions
that are executed elsewhere) or where the counterparty passes information
from the website on to a third party. I think the language in your draft
covers the most important stuff. I point this out only to be clear on why I
had included "use".
2. I am not sure the lead in to 4(c) ("Subject to clause 4(b)") should be
included. It seems to suggest that the counterparty could be liable for
consequential damages, etc. for the things covered in 4(b), which I suspect
will be difficult for Shell to accept.
3. Will 4(a) remain in the Agreement? I think it should, because there are
things covered in (a) that should not be mutual but should be retained; e.g.,
no liability for timeliness, accuracy, etc. and exculpation for use of the
website. However, if (a) is retained, perhaps we should strike those
portions in the current version of (a) that will be covered by (c); e.g.,
exclusion of consequential and punitive damages, etc. Otherwise, (c) will
be duplicative with respect to Enron's liabiity, which could be confusing.
4. Two "nits" in Section 4(b) of the version of the ETA attached to your
e-mail --
"Website" is misspelled as "Webiste" in the sixth line, and the "(ii)" in the
next line should be deleted.
Please let me know if you want to discuss. Hope all is well with you.
Thanks.
>>> <[email protected]> 10/24 4:22 AM >>>
David
I had a few minor suggestions, as set out below. Please also note the
following:
SHELL had requested that the limitation of liability in clause 4(a) be
mutual; I have therefore left clause 4(a) as it stands, but added new
clause 4(c) below.
The risk of including the language in (b)(ii) below is that SHELL will
ask for Enron for a indemnity to the extent that SHELL suffers Loss
arising out of Enron's breach of the Agreement. I have also sought to
restrict the circumstances where breach by SHELL would trigger the
indemnity - I believe sub-clauses (a), (c) and (d) of clause 2 capture
these.
(b) Counterparty shall indemnify, protect, and hold harmless Enron
and its directors, officers, employees and agents from and against any and
all losses, liabilities, judgments, suits, actions, proceedings,
claims, damages, and costs (including attorneys' fees) (collectively,
"Loss") resulting from or arising out of (i) any Transactions executed
through the Website by any person obtaining access to the Website through
the Passwords (as defined in the Password Application), whether or not
Counterparty has authorized such access, or (ii) any material breach by
Counterparty of its obligations under clause 2(a), (c) or (d) of this
Agreement, provided that, in no event will Counterparty have any
liability under this clause 4(b) for any Loss caused by the negligence or
wilful misconduct of Enron.
(c) SUBJECT TO CLAUSE 4(b), IN NO EVENT WILL EITHER PARTY BE LIABLE
TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE
OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF BUSINESS,
LOSS OF PROFIT, LOSS OR CORRUPTION OF DATA, LOSS OF GOODWILL OR
REPUTATION OR WASTED MANAGEMENT TIME) WHICH MAY BE INCURRED OR EXPERIENCED
ON ACCOUNT OF EITHER PARTY ENTERING INTO THIS AGREEMENT.
(d) Nothing in this Agreement shall have the effect of limiting or
restricting either party's liability arising as a result of fraud.
Look forward to your response.
Thanks.
Justin
(Embedded Enron Capital & Trade Resources Corp.
image moved
to file: From: [email protected]
pic24182.pcx) 18/10/2000 23:36
To: [email protected]
cc:
Subject: ETA
Justin: Attached is a proposed revision of Section 4(b) of the ETA, as we
discussed. I have attempted both to narrow its scope and to carve out the
negligence, misconduct or breaches of Enron. Please call or e-mail with
any thoughts or comments. Best regards.
----------------------------------
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that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.
(See attached file: UKETA.doc)
----------------------------------
This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately. |
----- 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 :
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************************************************************* |
Here is CERA's latest near term analysis.
---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 10/27/2000
02:40 PM ---------------------------
[email protected] on 10/26/2000 06:05:45 PM
To: [email protected]
cc:
Subject: Temporary Slack - CERA Alert
**********************************************************************
CERA Alert: Sent Thu, October 26, 2000
**********************************************************************
Title: Temporary Slack
Author: N. American Gas Team
E-Mail Category: Alert
Product Line: North American Gas ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1402 ,
Alternative URL:
http://www.cera.com/client/nag/alt/102600_15/nag_alt_102600_15_ab.html
*********************************************************
Warm weather and strong storage injections have temporarily shifted the focus
in the
gas market away from a potential supply shortage this winter toward a growing
sense
that supplies might just prove adequate. The result has been a steady and
steep
decline in the November NYMEX price from $5.63 per MMBtu on October 12 into
the $4.60s as of October 25. Cash prices have followed suit, falling from the
mid-
$5.50s to the $4.60s at the Henry Hub, and gas is now pricing below residual
fuel oil
in the Gulf Coast and especially on the East Coast. Although gas storage
inventories
will begin the winter at levels higher than expected, in CERA,s view adequate
supply for the winter is not yet assured, and the market remains subject to a
quick
return to prices well above $5.00 with the first cold snap.
Storage injections of 71 billion cubic feet (Bcf) for the week ended October
20
accompanied by broad-based and continuing warm weather have driven the shift
in
market psychology. Last week,s injection rate was 26.5 Bcf, or approximately
3.8
Bcf per day, above the previous five-year average for those seven days and 58
Bcf
above the 13 Bcf of injections recorded last year for the week ending October
22.
With warm weather this week and the return of more normal temperatures
expected
next week, CERA now expects storage to reach a maximum level of 2,784 Bcf on
October 31--still an all-time low entering the winter, by 26 Bcf (see Table
1).
Is this inventory level "enough"? Not yet. Storage inventories this winter
under 15-
year normal weather conditions would fall to approximately 780 Bcf, 22 Bcf
above
the previous all-time low. This end-of-March minimum implies total
withdrawals in
the United States this winter of 2.0 trillion cubic feet (Tcf), 128 Bcf above
last year,s
withdrawals. But holding withdrawals this winter down to 2.0 Tcf in the face
of a
return to normal weather--and the demand rebound of 3.0 Bcf per day it would
bring--will be difficult. Although the beginning of a US supply rebound and
growing imports will add approximately 1.0 Bcf per day to supplies this
winter,
holding withdrawals down requires both of the following:
* Industrial markets--mainly ammonia and methanol
producers--that are now shut down because of high gas prices
must remain shut down. These markets represent
approximately 0.5 Bcf per day of demand that could return,
should gas prices moderate relative to ammonia and methanol.
* The nearly 1.5 Bcf per day of switchable load now burning
residual fuel oil must remain off of gas.
In CERA,s view, for gas prices to fall below resid on a sustained basis,
particularly
as power loads increase this winter, it must become apparent that winter
demand can
be met, the current resid load can return to gas, and storage inventories can
be held
reasonably near the previous record low. That low, 758 Bcf, occurred in March
1996
and was accompanied by a February average price of $4.41 and a March average
of
$3.00 at the Henry Hub. That spring, however, US productive capability was
nearly
4.0 Bcf per day greater than it is today, winter power generation demand was
lower,
and there were about 4.5 million fewer residential and commercial gas
customers in
the United States.
Market fundamentals in CERA,s view still support gas prices above those of
resid,
which as of this writing is pricing in the $4.75-$5.00 per MMBtu range. Warm
weather throughout November and into December could reverse this
relationship, but
a warm October alone is insufficient, and any cold weather within the next few
weeks will quickly tighten the slack that has temporarily come into the
market.
CERA,s price outlook for November--an average of $5.50 at the Henry Hub--
stands for now.
**end**
Follow URL for PDF version of this Alert with associated table.
*********************************************************
CERA's Autumn 2000 Roundtable event dates and agendas are now available at
http://www.cera.com/event
*********************************************************
**********************************************************************
Account Changes
To edit your personal account information, including your e-mail
address, etc. go to: http://eprofile.cera.com/cfm/edit/account.cfm
This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www.cera.com/tos.html
Questions/Comments: [email protected]
Copyright 2000. Cambridge Energy Research Associates |
In regard to the market monitoring issue below, this effectively adopts NY's
circuit breaker proposal for mitigation. FERC's approval leaves little hope
to overturn this in NY and makes it likely that similar measures will be
adopted in other markets. This is not a good development. It entrenches
regulatory manipulation and will serve to dampen volatility.
Tom
From: Sarah Novosel on 05/08/2001 10:04 AM EDT
To: Kevin M Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Jeff
Ader/HOU/EES@EES, Edward D Baughman/Enron@EnronXGate, Joe
Gordon/Enron@EnronXGate, Janelle Scheuer/Enron@EnronXGate, [email protected],
Mark Bernstein/HOU/EES@EES, John Llodra/Corp/Enron@ENRON, George
Wood/Corp/Enron@Enron, Paul J Broderick/HOU/ECT@ECT, Jason
Thompkins/Enron@EnronXGate, Mason Hamlin/HOU/ECT@ECT, Robert
Stalford/NA/Enron@Enron, Tom May/Corp/Enron@Enron, Gautam Gupta/HOU/ECT@ECT,
Narsimha Misra/NA/Enron@Enron, Steve Montovano/NA/Enron@Enron, Garrett
Tripp/TOR/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, Jason
Thompkins/Enron@EnronXGate, Rob Wheeler/Enron@EnronXGate, Jim
Meyn/NA/Enron@Enron, Aleck Dadson/TOR/ECT@ECT, Daniel
Allegretti/NA/Enron@Enron, Pearce W Hammond/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Howard
Fromer/NA/Enron@Enron, Kathleen Sullivan/NA/Enron@ENRON, Tom
Hoatson/NA/Enron@Enron, Thane Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Sarah Novosel/Corp/Enron@ENRON, Christi L Nicolay/HOU/ECT@ECT, James D
Steffes/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron, Charles
Decker/HOU/EES@EES
cc:
Subject: FERC Orders
The following are a few summaries of recent New England orders. Please let
us know if you have any questions.
Sarah
FERC Approves NEPOOL's Three-Part Bids
On April 25, FERC approved NEPOOL,s proposal to implement a system where
generators can submit three-part supply offers consisting of a start-up
price, an hourly no-load price, and an incremental energy price. NEPOOL also
proposed that when a supplier,s total revenues over a day from the energy and
operating reserves markets were less than its total bid costs, the shortfall
would be paid to the supplier as net commitment period compensation (NCPC)
uplift. There was disagreement within NEPOOL as to who will pay these uplift
costs.
In approving NEPOOL,s three-part bid system, FERC finds that the system is
consistent with the policies in place in New York and PJM. With regard to
NCPC uplift cost allocation, FERC finds that NEPOOL,s exiting method of
allocating NCPC uplift costs broadly, based on electrical load, is
appropriate since it is difficult to determine who causes what amount of
uplift costs. The new three-part bid system will take effect July 1, 2001.
FERC Rejects Proposal to Disclose Bidding Information
In an April 13 FERC order of no overall interest to us, FERC includes a
discussion about the rules for disclosure of bidding and other data gathered
by the ISO. Braintree had argued that FERC should require public disclosure
of bidding and other data in order to allow NEPOOL participants to monitor
the actions of others. FERC rejected Braintree,s arguments, finding that
FERC,s rules strike an appropriate balance between the need to disclose as
much information as possible and the desire to avoid disclosure requirements
that will make it more difficult for the ISO to obtain information from
market participants in the first place. FERC states that because data
collection is critical to the ISO,s ability to monitor the NEPOOL markets, it
does not want to take action that would impede the ISO,s ability to collect
this information.
Information Policy
NEPOOL submitted a March 5, 2001 request for revisions to NEPOOL,s
Information Policy, to be effective May 5, 2001, which permits FERC to obtain
NEPOOL Participant confidential information directly from ISO-NE. On April
25, 2001, FERC issued an order approving the filing. FERC stated that ISO-NE
should be able to turn over confidential information to FERC without first
being required to notify the affected member of receipt of a request for
information. However, the Commission notes that the information given to
FERC will be treated confidentially by FERC until FERC rules otherwise, and
those Participants' whose information is given to FERC will retain the
opportunity to oppose release of that information to the general public
before FERC makes the information public.
Market Monitor Information Collection
ISO filed revised procedures intended to give ISO the authority to monitor
for generator physical and economic withholding as a way to raise prices.
Under the revised procedures, a reference price is calculated for each 10MW
block for each generating unit. The specific reference price is an average
of in-merit bids over the last 30 days. ISO will investigate all bids that
deviate significantly from the reference price.
Under the ISO's proposed procedures, prospective mitigation will occur if ISO
determines that the bid will have a significant effect on the relevant market
clearing price or uplift payment and the generator cannot adequately justify
why its bid is not anti-competitive. If a bid is mitigated, ISO will
substitute the generator,s reference price as its default bid. ISO will
implement these new mitigation measures on July 1. ISO also proposed to
release bid data after a 3 months delay (FERC previously ordered ISO to
release bid data after a 6 month delay).
Many generators opposed the procedures; Braintree argued they do not go far
enough. On April 26, FERC accepted ISO,s changes, finding that they do not
give ISO too much discretion and are consistent with NYISO mitigation
procedures. FERC rejected ISO,s proposal to release data 3 months
after-the-fact and directed ISO to wait 6 months before release. |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/18/2000
09:01 AM ---------------------------
Julia Shaw <[email protected]> on 09/29/99 03:49:07 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Real Options Conference Monday 21st & Tuesday 22nd February2000
Dear Mr Kamins
I am delighted that you would like to speak at the forthcoming "Real Options"
conference. Would your company be covering travel and hotel expenses? If
not I would need to get internal sign off to cover any expenses you would
have. Please can you tell me either way so that I can make the requisite
inquiries if required.
The speakers at the conference have provided me with between 5-8 bullet
points for their talks. Could you email me a few ideas with regard to the
content of the talk and I will email back my ideas. I have attached one of
the talks at the conference to give you an idea of the style of the talks
which have already been included.
I look forward to speaking with you later this afternoon.
Kind regards
Julia Shaw
Conference Producer
Tel:44 171 915 5650
Fax:44 171 915 5001
Email:[email protected]
>>> "Vince J Kaminski" <[email protected]> 09/27/99 07:05pm >>>
Dear Ms. Shaw,
I have just returned from London. One of the points on my
agenda was an internal seminar on the topic of real options
my group offered to the Enron unit in London. Real options is
a valuation technology I have been promoting internally
for quite a long time.
I shall be glad to speak at your conference. Proposed topic:
"Real Options and Valuation of Fixed Assets in the Energy Industry".
Please, let me know if this of interest to you.
Vince Kaminski
Julia Shaw <[email protected]> on 09/24/99 06:13:07 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Real Options Conference Monday 21st & Tuesday 22nd February 2000
Dear Mr Kaminski,
I was given your name by Ann Wagoner and I believe that you area speaking at
her
conference on Real Options. I work in the London office of IIR and am putting
on a similar conference. Your company has been mentioned by a wide variety of
people who I have spoken with about real options. A number of people have
mentioned that your company is regarded very much as a market leader.
I would like to discover if a representative from ENRON might be interested in
speaking at the conference. I have attached the draft programme with agreed
speakers to date. The conference is by no means set in stone and if a speaker
from ENRON decided to become involved I would ensure that you were given a
good
speaking slot in the conference and would have editorial control over the
talk.
I very much hope that ENRON will become involved with the conference and I
look
forward to speaking with you today or next week about the prospect.
Kind regards
Julia Shaw
Conference Producer
Tel 44 171 915 5650
Fax 44 171 915 5001
Email:[email protected]
!
!
!
!
!
!
- Smith.doc |
Molly,
Thanks.
Let's wait for Sandeep: he comes back Wednesday.
Anshuman will work with him.
Vince
Enron North America Corp.
From: Molly Magee 01/19/2001 06:08 PM
To: Margaret Daffin/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
Once again, Margaret, we are in your debt. Vince, let's get together some
time next week and see where you would like us to go with this...
Molly
Margaret Daffin
01/19/2001 03:27 PM
To: Molly Magee/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
Molly: just to be sure that everyone understands, Anshuman cannot work in
the US on a B1 visa - he can only come here for business meetings and
training.
We will have to get him the L1 visa in order for him to work in the US.
Margaret
Enron North America Corp.
From: Molly Magee 01/19/2001 02:53 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Margaret Daffin/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
Thank you so much for the information, Vince. I hope that you have a great
weekend!
Molly
Vince J Kaminski
01/19/2001 02:39 PM
To: Molly Magee/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
Molly,
I shall ask Sandeep to do it when he comes back from India next week.
I have just learned that Anshuman has B1 visa and he can start on a project
as a person
delegated by Dhabol Power Company to Houston. To be absolutely above the line,
I would still arrange the L1 visa.
Vince
Enron North America Corp.
From: Molly Magee 01/19/2001 10:44 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Margaret Daffin/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
I agree that it makes sense to put the L1 in place. There are several things
we will need from you in order to start the visa process. The first is a
fairly detailed job description for Anshuman. Secondly, we also need to know
whether or not he will be in a managerial position here and/or managing a
project. If there is someone else in your group who can furnish this job
description, just let me know and I will be happy to contact him/her.
As for Sandeep, I have been told that he is a U.S. resident so there should
be no problems with him. Margaret Daffin will be contacting him to be
absolutely sure.
Thanks,
Molly
Vince J Kaminski
01/19/2001 10:21 AM
To: Molly Magee/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
Molly,
Let's get L1 for Anshuman, just in case. I am sure he will stay here for a
while
once he comes. It is quite obvious Jeff Shankman will have to keep him
longer,
given the priority of the project.
I assume there are no problems with Sandeep.
Thanks.
Vince
Enron North America Corp.
From: Molly Magee 01/19/2001 09:54 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Margaret Daffin/HOU/ECT@ECT
Subject: Re: Transition to Research Group - An Update
Thank you for the update, Vince. I have been working with Margaret Daffin
with regard to Anshuman's visa status. We will have to get an L1 visa in
place before he can come to the United States, even in a temporary
capacity. Do you want to move forward with that effort at this time, or
is the possibility of him coming to the U.S. so remote that it wouldn't be
worth the time and money right now?
Molly
Vince J Kaminski
01/19/2001 09:42 AM
To: Molly Magee/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Transition to Research Group - An Update
Molly,
This is an update on Anshuman. Please, see below. It seems
that his transfer is not an issue for the time being.
We can put it on a back-burner till he gets here.
Vince
P.S. The relevant section.
I also spoke about Anshuman, and there was resistance to his leaing for such
a long time. However, I have agreement from folks here to send him to
Houston for a shorter stint on DPC budget. I will try to finalize that
before I leave. I will call you in the evening to just chat.
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/19/2001
09:45 AM ---------------------------
Sandeep Kohli@ENRON_DEVELOPMENT
01/19/2001 04:32 AM
To: Vince J Kaminski@ECT
cc:
Subject: Transition to Research Group - An Update
Vince,
Just wanted to let you know that I had a meeting with Wade Cline (COO, Enron
India), Neil McGregor (President, DPC), and Mohan Gurunath (CFO, DPC) today.
Though I had already spoken to all of them earlier about my joining your
group, today it became official, and all of them supported the move. I
explained to them what we would be doing, and the results expected from the
Henwood study.
DPC would like to pay the costs for the study, and that was mentioned. There
maybe some tax issues etc. that need to be cleared, and other related issues
that I would like to discuss with you, so I will leave them till I get to
Houston.
I also spoke about Anshuman, and there was resistance to his leaing for such
a long time. However, I have agreement from folks here to send him to
Houston for a shorter stint on DPC budget. I will try to finalize that
before I leave. I will call you in the evening to just chat.
I am very thankful to you for giving the opportunity you have. Things here
have deteriorated dramatically over the last few weeks. Morale is quite down
due to many lay-offs.
I am really looking forward to returning to Houston, and the family!!
Regards,
Sandeep. |
The Austin Group Energy, L.P.
Monthly Newsletter
Let's describe a typical and recurring nightmare for generating unit
operators. It's noon on August 15, temperatures have reached the upper 90s
all week; you're well into your reserve margin to serve native load, when a
unit trips off line. Do you scramble to find replacement power at record
high prices and worry about the consequences later? Or, have you prepared
for this event?
When the degree of risk has not been quantified, fear of the unknown can
lead to restless nights, and understandably so. The financial implications
can be astounding when a unit outage occurs during a period of high spikes
in market prices.
How does this relate to the recruitment and hiring of talent within your
shop? Allow me to bring the story together. What would you do if your top
employee came to you and said, "You've been great to me and I've learned
alot, but I just accepted a job at your level right down the road and they
like me so much they want me to start tomorrow." Do you spring into 911 mode
or are you ready for this day.
Start a relationship today with The Austin Group Energy. We will keep you
aware of all available talent in your market area. These candidates are
currently employed and do not answer ads. They stay in touch with
opportunities through us to ensure confidentiality. Why would Top 5
marketing companies pay us for the recruitment and placement of over 400
successful hires when they could hire them on their own. The smart and
proactive companies understand how to outpace the pack when it comes to
hiring talent, they call The Austin Group Energy.
THE FOLLOWING CANDIDATES ARE AVAILABLE FOR IMMEDIATE OPPORTUNITIES:
Ref# 00012123
Power Options Trading Desk
This PhD candidate is responsible for long term derivatives
trades/structures (Asian options, heat rate options, weather/power
derivatives structures, swing options etc.)
Ref# 00012124
Rotational Program- Risk Analytics
This MBA Finance candidate is analyzing/evaluating structured transactions
and derivative instruments. Has developed a VBA-based delta-adjusted risk
exposure model for all asset management groups. Designed intermediate-term
forward power curve forecasting model based on gas forward curve. Created
Visual Basic Monte Carlo simulator for Excel for option analysis.
Ref# 00012125
Quantitative Analyst
This M.S. in Applied Mathematics candidate builds short term models
necessary to forecast/schedule usage on a portfolio basis, by various levels
of aggregation (e.g. region, congestion zone, weather zone, customer, etc.)
Constructing statistical and econometric models to accurately predict
seasonal customer usage based on rate class, calendar and geographic climate
patterns.
Ref# 00012126
Quantitative Analyst - Manager
This candidate developed and implemented two Value-At-Risk (VAR) methods for
Natural Gas. Developed and implemented models for pricing and hedging exotic
natural gas options (Gas Daily and Peaker). OpenLink experience with VaR and
mark-to-market calculations.
Ref# 00012127
Director Derivatives Trading and Portfolio Management
Developed Nymex and locational options, position risk management model.
Evaluated and assisted in the process of selecting and implementing a new
real time front and back office financial system with VAR capabilities.
Structured deals for marketers using embedded financial products and traded
natural gas options and fixed for float swaps. Priced and hedged advanced
options and swaps such as swaptions, asians, extendibles, expandibles, and
spread options.
Ref# 00012128
Risk Control Analyst
Support Origination and Trading activities by providing daily mark-to-market
values and VaR reports through accurate and timely entry of financial
transactions into RMS system. Maintain database for RMS system and
Integrated Commodity Trading System (ICTS) for entry of financial trades.
Ref# 00012129
Risk Manager
Responsible for all mid-office trader support functions. Responsibilities
include daily senior management position and P&L reporting, process
improvements, system implementations, structuring of originated
transactions, and rollout of an operational analysis plan.
Ref# 00012130
Senior Commercial Analyst: Pricing and Structures
Developing model to incorporate basis and transportation into gas fuel costs
utilized in mark-to-market valuation of a gas-fired generation asset.
Determined market value of regional power by confirming the marks estimated
by the trade desk against independent broker prices. Forecasted resulting
previous day's trade-to-market figure for preliminary valuation of book
value.
Ref# 00012131
Director - Risk Management
Analyze financial markets and advise physical traders of hedging and trading
opportunities. Analyze market, secure management approval of trading
strategies and execute financial trades. Generate position reports for
upper management.
Ref# 00012132
Risk Management Specialist
Perform risk management functions for the gas trading organization,
including daily position and P&L reporting. Ensure deal validation and
perform problem resolution for executed trades. Create daily VaR estimates
for both cash and term traders.
Ref# 00012133
Risk Analyst
Determine market value of regional power, confirming the market values
estimated by trade desk against prices set for independent brokers.
Forecast resulting previous day's trade-to-market figure for preliminary
valuation of book value. Participate in daily Value at Risk calculations,
exception reporting for daily variances, updating of daily price curves, and
updating proprietary models which value long term transactions.
Paul Johnson
President- TAGE
Ofc (281) 600-8145
Mbl (281) 814-3886
Visit our Website
http://www.austingrp.com
- Paul Johnson.vcf |
FYI, the only people who knew who we invited to the meeting (but did not attend) were Dick Riordan and Kevin Sharer...
Saturday, May 26, 2001 (SF Chronicle)
Enron's secret bid to save deregulation/PRIVATE MEETING: Chairman pitches his plan to prominent Californians
Christian Berthelsen, Scott Winokur, Chronicle Staff Writers
Energy executive Kenneth Lay, head of powerful Enron Corp., quietly
courted Arnold Schwarzenegger, Richard Riordan, Michael Milken and other
luminaries this week in Beverly Hills to drum up support for his solution
to California's energy crisis.
His prescription called for more rate increases, an end to state and
federal investigations and less rather than more regulation.
Lay, a close friend of President Bush and one of his largest campaign
contributors, hosted a private 90-minute meeting in a conference room at
the Peninsula Hotel in Beverly Hills on Thursday.
Among the participants were Milken, the former head of the Drexel Burnham
Lambert investment banking firm who pleaded guilty to fraud charges in
1990 and who now runs a think tank based in Santa Monica; movie star
Schwarzenegger;
and Riordan, the mayor of Los Angeles. Schwarzenegger and Riordan have
been courted recently as GOP gubernatorial candidates.
One participant, who agreed to speak on the condition he not be
identified, said the meeting appeared to be geared toward getting
participants to support Lay's vision and then champion it to officials who
are trying to solve the state's energy mess.
PLAN TO RESCUE DEREGULATION
The source said the timing and tone of the meeting suggested Lay is
concerned that California will abandon its disastrous experiment with
power markets by either re-regulating the system or creating a government
authority to provide electricity. Gov. Gray Davis signed legislation last
week to create and fund a state power authority that would build, buy and
run power plants in California.
"They're trying to rescue deregulation," the source said of Enron
executives. "They think the whole state power authority is a bad idea."
At the meeting, Enron representatives circulated a four-page position
paper titled "Comprehensive Solution for California," which was obtained
by The Chronicle. It said ratepayers should bear responsibility for the
billions in debt incurred by the state's public utilities and that
investigations of power price manipulation and political rhetoric are
making matters worse.
The paper made no mention of the possibility that much of the runaway
electricity costs in California is due to market manipulation by power
generators and traders -- a possibility given credibility in studies by
regulators and economists.
One of the talking points read: "Get deregulation right this time --
California needs a real electricity market, not government takeovers."
Another point suggested giving consumers monetary rebates for conserving
electricity.
INVOLVED IN EARLY DAYS
Lay has been an aggressive champion of deregulated electricity markets and
was an early advocate in persuading California to begin its experiment
with a competitive power market system.
Lay has created a new kind of company in the process, one that essentially
produces nothing but makes money as a middle-man, buying electricity from
generators and selling it to consumers. During the first quarter of this
year, Enron's revenues increased 281 percent to $50.1 billion.
Asked about the purpose of the meeting, Karen Denne, a spokeswoman for
Enron, said she would "look into that" and then did not return repeated
telephone calls seeking comment. One participant said Denne was present at
the meeting.
D.C. CONNECTIONS
Meanwhile, Lay's power in Washington is reported to have reached
unprecedented heights. According to a story in yesterday's New York Times,
Lay supplied the Bush administration with a list of candidates for jobs
regulating the power industry and even interviewed one of them. The story
also said Lay essentially threatened to seek the removal of the chairman
of the Federal Energy Regulatory Commission, Curt Hebert, if he does not
support Lay's desire to further deregulate the nation's electricity
system. Lay denied the allegation.
Also in attendance at this week's meeting were Bruce Karatz, chief
executive of home builder Kaufman & Broad; Ray Irani, chief executive of
Occidental Petroleum; and Kevin Sharer, chief executive of biotech giant
Amgen.
Among those who were invited but did not attend were former Los Angeles
Lakers star Earvin "Magic" Johnson; supermarket magnate and Bill Clinton
supporter Ron Burkle; and Dennis Tito, recently returned from the world's
first civilian space trip.
Milken, through a spokesman, confirmed that he attended the meeting, but
declined to be interviewed. Schwarzenegger could not be reached for
comment through a publicist, and Sharer did not return a call yesterday
afternoon.
A spokesman for Riordan, Peter Hidalgo, said the Los Angeles mayor
attended,
but was "not intending to formulate any kind of policy position on this
issue.
His intent is to listen to all sides."
Attached to the Enron handout was a two-page open letter, addressed to
Davis and the state Legislature, apparently prepared for those who support
Lay's position and would be willing to sign their names to it. The source
who participated in the meeting said those assembled appeared noncommittal
and asked a number of questions of Lay, but did not agree to champion his
agenda.
E-mail the writers at [email protected] and Scott Winokur at
[email protected].
----------------------------------------------------------------------
Copyright 2001 SF Chronicle |
> <<...OLE_Obj...>>
> E-Notes provides regular briefings on new developments in global energy
> and public utility law.
>
>
> November 20, 2001
>
> FERC OFFERS FURTHER GUIDANCE ON RTOs
>
> Earlier this month, the Federal Energy Regulatory Commission ("FERC" or
> "Commission") issued an Order Providing Guidance on Continued Processing
> of RTO Filings ("RTO Guidance Order"). This order was issued by the FERC
> in response to the RTO development efforts in the United States and
> comments received by the Commission at the public conferences held at the
> FERC from October 15 through 19, 2001, the open Commission meeting on
> October 24, 2001, and the Western Regional Infrastructure Workshop in
> Seattle, Washington on November 1-2, 2001.
>
> Elements of RTO Development
>
> The RTO Guidance Order states that further development and eventual
> completion of the RTO process will occur along two parallel tracks before
> the Commission. One track will address scope and governance issues
> through the pending RTO dockets following consultation with state
> commissioners. The other track will address business and process issues
> through the transmission tariff and market design rulemaking in Docket No.
> RM01-12-000. The RTO Guidance Order also provided important details
> concerning key elements of the RTO development process.
>
> Specifically, the Commission will:
>
> * issue a Notice of Proposed Rulemaking ("NOPR") on terms and
> conditions of interconnection services during January 2002 and a separate
> NOPR on interconnection pricing issues by April 2002.
>
> * use the pending RTO dockets to address current and future
> proposals for fulfilling the eight Order No. 2000 RTO Functions, including
> the numerous business models proposed for the administration of critical
> wholesale market operations;
>
> * create state-federal RTO panels to promote dialogue on RTO
> development between the Commission and state commissions;
>
> * actively seek advice from state commissioners concerning the
> composition of regional markets;
>
> * meet with investor representatives to better understand the
> financing of independent transmission companies and transmission
> construction;
>
> * perform addition cost-benefit analyses on RTOs to guide its
> efforts and to provide a quantitative basis for the appropriate number of
> RTOs.
>
> New Policy Shift
>
> The Commission has officially abandoned its December 15, 2001 deadline for
> RTO operation and will instead issue orders addressing pending RTO filings
> only after receiving comments from the appropriate state regional panels.
> Future RTO progress in each region will be governed by timelines to be
> established in future Commission orders. RTOs will be based on a sound
> business plan with substantive buy-in from a cross-section of market
> participants. With respect to the West, the RTO Guidance Order commented
> favorably upon the development of three Western sub-regional organizations
> bound by a workable seams agreement and operating under a larger umbrella
> organization.
>
> The terms of the RTO Guidance Order reflect the Commission's reaction to
> the drastic changes occurring in the electric power industry since the
> issuance of Order No. 2000 in December 1999. The cumulative and ongoing
> effects of the California crisis (including PG&E's bankruptcy and the
> bitter El Paso Natural Gas Company litigation), uncertainties in gas and
> power trading markets, and the business and regulatory factors underlying
> the tremendous disparity in levels of RTO development have influenced (and
> will continue to influence) Commission activity in this area. In stark
> opposition to the mandates of the past summer, the RTO Guidance Order
> depicts a Commission committed to pragmatic, cautious implementation of
> strategy devised through cooperation and collaboration with the states and
> industry.
>
> Future Commission action in RTO development will likely: (1) reflect
> conclusions reached through consensus and development that will increase
> the likelihood of substantive success and, importantly, more broadly
> disperse the political risk; and (2) emphasize increased market
> transparency to mitigate the volatility that has drastically shortened the
> time window for business failure in the electric power industry from a
> matter of years to a matter of weeks. The Commission will likely continue
> to investigate and respond to market activity and trends during future RTO
> development.
>
> This FERC order comes at a unique and pivotal moment in RTO development
> and will have an immediate and direct commercial impact upon business
> activities in the electric power industry. The Commission's next phases
> of RTO development will dictate business strategy for much of the
> foreseeable future and will have substantial and unprecedented impact upon
> the development of electric power markets and businesses operating in
> those regional markets well into next year.
>
>
> Michael J. Zimmer
> Jonathan W. Gottlieb
> Roger M. Gibian
>
>
> __________________________________________________________________________
> __
> E-Notes is a publication of Baker & McKenzie. It does not constitute
> legal advice or a legal opinion on any specific facts or circumstances.
> The contents are intended as general information only. You are urged to
> consult your attorney concerning your situation and specific legal
> questions you may have. For further information on the subjects discussed
> in E-Notes, contact Michael J. Zimmer,
> mailto:[email protected] or
> Jonathan W. Gottlieb, mailto:[email protected].
>
> For more information about BAKER & McKENZIE and our global energy and
> utility practice, click on our electronic business card:
> <<...OLE_Obj...>>
>
> or visit our website at <http://www.bakerinfo.com/Practice
> Areas/nabfmp/energy/!viewme.htm> .
>
>
> |
----- Forwarded by Richard B Sanders/HOU/ECT on 10/16/2000 09:45 AM -----
John Schwartzenburg@ENRON_DEVELOPMENT
10/16/2000 07:28 AM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: Re: Enron Gas Liquids Europe S.A.R.L - liquidation
Last note from Kate and others invovled show that this company is either ENA
or EEL, not EECC. I suspect Kate will be fixing her records to show that.
Thanks to all and sundry.
Richard B Sanders@ECT
10/15/2000 09:06 AM
To: Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Britt Davis/Corp/Enron@ENRON, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Enron Gas Liquids Europe S.A.R.L - liquidation
Sorry Bob--too late, this case belongs to you. Seriously, I have asked Britt
Davis to help me sort this out. He has been heading up the effort to
(finally) get rid of this case
Robert C Williams@ENRON_DEVELOPMENT
10/09/2000 02:39 PM
To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sue Kelly/LON/ECT@ECT@ENRON, Kate Cole/Corp/Enron@ENRON, John
Echols/Enron Communications@Enron Communications@ENRON, Justin
Boyd/LON/ECT@ECT@ENRON, Teresa Callahan/Corp/Enron@Enron, Wyndel
McNamara/NA/Enron@Enron, Richard Sanders
Subject: Re: Enron Gas Liquids Europe S.A.R.L - liquidation
I think Richard Sanders is managing this litigation. The other party is
Interfert. And John, trust me, since I managed this while at ECT (nka ENA),
you don't want to give Richard any reason to transfer it to you (or to me).
Its a pain. Besides, I can't imagine that this would be under EECC, but the
accounting boys never cease to amaze.
John Schwartzenburg
10/09/2000 01:58 PM
To: Sue Kelly/LON/ECT@ECT@ENRON
cc: Kate Cole/Corp/Enron@ENRON, John Echols/Enron Communications@Enron
Communications@ENRON, Justin Boyd/LON/ECT@ECT@ENRON, Teresa
Callahan/Corp/Enron@Enron, Wyndel McNamara/NA/Enron@Enron, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Enron Gas Liquids Europe S.A.R.L - liquidation
Yikes! Justin, if you folks are litigating a case involving this entity,
then EECC needs to be aware of it, including myself as the GC and our
litigation managers, Bob Williams and Gail Brownfeld. Can you please let me
know what the nature of the case is, including it's status, and which Enron
lawyers are handling it?
Kate, it might be that entity is just improperly shown as an EECC entity.
Justin, can you tell us who the Enron commerical people involved with the
case are?
Sue Kelly@ECT
10/09/2000 01:29 PM
To: Kate Cole/Corp/Enron@ENRON
cc: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, John
Echols/Enron Communications@Enron Communications@ENRON, Justin
Boyd/LON/ECT@ECT, Teresa Callahan/Corp/Enron@Enron, Wyndel
McNamara/NA/Enron@Enron
Subject: Re: Enron Gas Liquids Europe S.A.R.L - liquidation
Hello ther
I understand from Justin that this is ongoing and will not be finalised until
outstanding litigation is resolved. I understand that you guys in Houston
are running this one?
Sue.
Kate Cole@ENRON
09/10/2000 16:06
To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Echols/Enron Communications@Enron Communications, Sue Kelly/LON/ECT@ECT,
Justin Boyd/LON/ECT@ECT
cc: Teresa Callahan/Corp/Enron@Enron, Wyndel McNamara/NA/Enron@Enron
Subject: Re: Enron Gas Liquids Europe S.A.R.L - liquidation
John - I knew that this was tickling my memory and suddenly I remembered!
Back in 1997 John Echols was appointed liquidator to continue the process of
liquidating Enron Gas Liquids Europe S.A.R.L. (which I presume is the same
entity to which you refer).
By copy email I'm asking John Echols, Sue Kelly and Justin Boyd what happened
to the liquidation proceedings. Does the entity still exist and if not, how
can we get copies of the liquidation evidence.
Thanks Kate
Kate B. Cole
Director, Corporate Services
Enron Corp.
Tel: (713) 853-1624
FAX: (713) 646-8007
Email: [email protected]
John Schwartzenburg@ENRON_DEVELOPMENT
10/02/2000 12:05 PM
To: Kate Cole/Corp/Enron@ENRON
cc: Wyndel McNamara/NA/Enron@ENRON, Teresa Callahan/Corp/Enron@Enron
Subject: Re: Enron Hydro Modernization Company
Hi, Kate. It surely can wait that long.
By the wasy, we have another company that somehow has been allocated to us,
Enron Gas Liquids, a French Company, that EECC was surprised to find it owns
and has no use for, so we would like to liquidate it as well. Is that
something your gang would handle as well, just to make sure that no other
Enron entity needs it?
Kate Cole@ENRON
09/29/2000 05:06 PM
To: Wyndel McNamara/NA/Enron@ENRON
cc: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Teresa
Callahan/Corp/Enron@Enron
Subject: Re: Enron Hydro Modernization Company
Hopefully this can wait until w/c 10/9 as Teresa and I will be out of the
office until then. Teresa will send out a dissolution memo to ensure that
everybody is on the same page and then Corporate Legal will prepare the
documents. You don't have to do anything else! Thanks Kate
Kate B. Cole
Director, Corporate Services
Enron Corp.
Tel: (713) 853-1624
FAX: (713) 646-8007
Email: [email protected]
Wyndel McNamara
09/29/2000 03:26 PM
To: Kate Cole/Corp/Enron@ENRON
cc: Teresa Callahan/Corp/Enron@Enron, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Enron Hydro Modernization Company
I have been instructed to dissolve the above listed domestic company. Please
tell me what I need to do to accomplish this task.
Thank you for your help in this matter,
Wyndi |
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------------------------------------------------------
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JoC Online Daily E-mail Newsletter
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October 23, 2001
Peace Treaty Day (Cambodia)
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* Zim, China Shipping deal scuttled
* Hanjin boosts China services
* FAA eases rules on interline transfers
* Cost-cutting spurs Canadian Pacific 3Q net
* Indian port adds surcharge
* Ex-Marine to head Customs anti-terrorism
* Continental cargo unit names McKeon
* Coast Guard station sprayed by plane
* Lan Chile to return freighter to Atlas
* GF-X expands advisory council
* Export ABCs: One-stop shipping
* JoC Week: The high price of security
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A.P. MOLLER WARNS ON PROFITS
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ZIM, CHINA SHIPPING DEAL SCUTTLED
A proposed slot-sharing agreement that would
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HANJIN BOOSTS CHINA SERVICES
The line has replaced Hong Kong as the hub for
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FAA EASES RULES ON INTERLINE TRANSFERS
Under the new rules, U.S. carriers can accept
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COST-CUTTING SPURS CANADIAN PACIFIC 3Q NET
Canadian Pacific Railway said third-quarter net
income edged up on strong gains in several sectors.
http://news.joc.com/cgi-bin7/flo?y=eDRa0BejkZ0n50RGt0Aa
INDIAN PORT ADDS SURCHARGE
Shipments to and from Chennai will cost more.
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EX-MARINE TO HEAD CUSTOMS ANTI-TERRORISM
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CONTINENTAL CARGO UNIT NAMES MCKEON
Jim McKeon has joined Continental Airlines Cargo as
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COAST GUARD STATION SPRAYED BY PLANE
Tests were being conducted after the incident in
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LAN CHILE TO RETURN FREIGHTER TO ATLAS
The airline has whittled its fleet down to one
leased freighter.
http://news.joc.com/cgi-bin7/flo?y=eDRa0BejkZ0n50RGy0Af
GF-X EXPANDS ADVISORY COUNCIL
The Internet-based wholesale airfreight marketplace
added two new members to its Advisory Council.
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Copyright 2001 The Journal of Commerce Group |
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. |
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) |
BUSINESS HIGHLIGHTS
Enron Industrial Markets
The Transaction Development group (TD) is responsible for corporate development, transaction execution and portfolio management activities within EIM. TD is responsible for asset and corporate acquisitions to support EIM's efforts in the Forest Products and Steel industries. TD works with EIM's Forest Products and Steel Origination groups to structure and execute complex transactions for EIM's customers. TD also manages EIM's equity investments, such as EIM's ownership position in Papier Masson, Ltee, a paper mill in Quebec, Canada.
TD is comprised of approximately 20 professionals with a wide range of backgrounds including investment banking, commercial banking, management consulting, law, project development, accounting and engineering. In addition, the majority of the analysts and associates within EIM work in TD since it provides a strong base of deal experience for junior members of our organization.
Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services offered to its customers and completed several flatbed truck moves outbound from Georgia this week. There was a shortage of flatbed equipment supply in this market and EFM was able to obtain more than three times the normal margin on each move.
IN THE NEWS
"Enron's bilateral internet trading platform, EnronOnline, was launched in November 1999 and is the largest e-commerce site on the planet based on the value of its transactions. As EPRM went to press, it had average daily trading volume of $3.5 billion, accounting for nearly 50% of the company's revenues from wholesale marketing activities." -- Energy Power Risk Management, May 2001
WELCOME
New Hires
EIM - Cheryl Lindeman
ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale, Sarah Wooddy
Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow
NUGGETS & NOTES
Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376. This is a great event for "new" as well as established customers. There will be a cocktail reception immediately after the presentations. Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco. Dates to be announced soon.
Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,000 of flight insurance at no additional charge.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.
* Total Life to Date Transactions > 1,015,000
* Life to Date Notional Value of Transactions > $610 billion
NEWS FROM THE GLOBAL FLASH
Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market by arranging the first gas import into Italy. The Italian team worked with the Continental Gas desk to arrange this strategically important agreement with Blugas SpA., the wholesale gas company formed by the municipalities of Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced 100,000 cubic metres per day of natural gas from northern Europe to transport to Italy, transiting it through Germany and Switzerland, despite fierce resistance from Ruhrgas and TransitGas respectively.
Aside from isolated LNG imports by incumbent monopolies this is the first time that any company has managed to import natural gas by pipeline into Italy since the Italian gas sector was officially liberalised in August 2000. The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be used to meet the needs of two thirds of Blugas' residential customers within the four municipalities. The current contract lasts for five months.
Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh, Marco Lantieri and Daniela Uguccioni.
Enron in the Middle East
Enron has relinquished its stake in Dolphin Energy, the joint venture company formed to develop gas reserves in Qatar.
Enron has agreed to transfer its 24.5 per cent stake in the project to the United Arab Emirates Offset Group (UOG), the majority shareholder. The agreement allows Enron to deploy capital elsewhere and gives UOG the opportunity to seek new partners before the project moves into its next phase.
Development of the Emden/Oude gas hub moves ahead fast
An important milestone in the evolution of the new gas trading hub on the Dutch-German
border was reached last week. Last Friday some of the major European gas players held a meeting to officially establish the Emden/Oude gas hub. Although Enron had already initiated the development of the Emden/Oude hub by making a market through EnronOnline as early as December 2000, the goal of this meeting was to set up a working group similar to the Zeebrugge focus group who can work on setting a legal framework for the Emden/Oude hub.
Enron was elected as the only new market entrant in this group, reflecting the high level of respect industry peers have for Enron as a major player in the Continental gas market -- even from incumbents!
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed.
<Embedded Picture (Metafile)> |
----- Forwarded by Jeff Dasovich/NA/Enron on 01/20/2001 11:01 PM -----
"Julee Malinowski-Ball" <[email protected]>
01/19/2001 07:13 PM
Please respond to "Julee Malinowski-Ball"
To: "Jan Smutny Jones" <[email protected]>, "Steven Kelley" <[email protected]>,
"Katie Kaplan" <[email protected]>
cc: "William Hall" <[email protected]>, "Tony Wetzel"
<[email protected]>, "Sue Mara" <[email protected]>, "Steven Kelley"
<[email protected]>, "Steve Ponder" <[email protected]>, "Stephanie Newell"
<[email protected]>, "Roger Pelote"
<[email protected]>, "Robert Lamkin" <[email protected]>,
"Richard Hyde" <[email protected]>, "Paula Soos"
<[email protected]>, "Nam Nguyen" <[email protected]>, "Marty
McFadden" <[email protected]>, "Lynn Lednicky"
<[email protected]>, "kent Palmerton" <[email protected]>, "Ken
Hoffman" <[email protected]>, "Kassandra Gough"
<[email protected]>, "Jonathan Weisgall" <[email protected]>, "John Stout"
<[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]>, "Ed Tomeo" <[email protected]>, "Duane
Nelson" <[email protected]>, "David Parquet" <[email protected]>, "Curtis
Kebler" <[email protected]>, "Carolyn Baker"
<[email protected]>, "Bob Escalante" <[email protected]>, "Bob
Ellery" <[email protected]>, "Bill Woods" <[email protected]>, "Bill
Carlson" <[email protected]>, "Craig Chancellor"
<[email protected]>, "Eric Eisenman" <[email protected]>, "Kate
Castillo" <[email protected]>
Subject: Legislative status report week ending 1/19
Date: 1/19/01
To: Jan Smutny-Jones, Steven Kelley, Katie Kaplan
Cc: IEP Board of Directors
From: Julee Malinowski-Ball, Edson + Modisette
RE: Legislative status report week ending 1/19
RECENT EVENTS:
-- The first two special session bills were signed by the Governor this
week: AB 5x (Keeley), relating to reconstituting the ISO and PX governing
boards, and 6x (Pescetti/Dutra), relating to utility retention of assets.
Includes in AB 5x was language requiring the ISO to make a list of
California power plants that are out of service due to either a planned or
unplanned outage available on the Internet on a daily basis.
-- Governor Davis has announced some appointments to the new ISO Board.
They include: Michael Kahn from the EOB as chair, Maria Contreras-Sweet who
is the Secretary of Business Transportation and Housing, Carl Guardino from
the Silicon Valley Manufacturing Group, and Mike Florio from TURN. The
fifth position still remains vacant. It is unclear if FERC will even
approve this new makeup.
-- SB 7x (Burton) caught everyone,s attention this week as it was
introduced, maneuvered through the legislative process and also signed by
the Governor within a 24 hour period. SB 7x clarifies the authority of the
Department of Water Resources on a temporary basis to purchase electricity
(in lieu of AB 1x). It gives the agency a 12-day window to purchase
electricity and sell it at cost. The legislation specifies that no contract
may be entered into later than February 15, 2001 and it sunsets on that
date.
-- The next legislative step taken this week was to continue the progress
made in the Assembly last week on AB 1x (Keeley/Migden). AB 1x authorizes
the Department of Water Resources to contract with any person or entity to
purchase electricity for up to 5.5. center per kWh. The Senate Energy
Committee met Friday afternoon to debate the measure. Committee members
themselves brought up a number of concerns, including those previously
articulated by IEP and some member companies. Specifically, IEP opposes the
5.5 cap and language that implies entities that &furnish8 power would be
&public utilities.8 Both were highlighted in today,s hearing by the Chair
of the committee and the author as provisions that need to be addressed
before the bill moves forward. The committee expects to be drafting
potential amendments over the weekend and will resume deliberations on
Monday at a time to be announced. I am faxing the amendments proposed and
submitted to the committee by Southern for your review which address these
issues and more.
-- Senator Burton also held a press conference this week to introduce SB 6x
which would create a state power authority that has the power to, among
other things, finance the construction of additional generating capacity and
provide financing for older plants to make necessary retrofits for
efficiency improvements. Power generated from this financing will be sold
to the state at cost. The press release is attached.
-- Still sitting on the back burner for the moment (which could change at
any moment) is any legislative play on long-term contracting and siting
changes. IEP has provided comments on both issues and is participating in
any discussions on these issues as they arise.
-- Last but not least, the QF issues has reached the legislative arena this
week. Asm. Keeley has been intent on getting all the parties together to
negotiate the SCE QF contracts. Negotiations will continue through the
weekend.
UPCOMING EVENTS:
-- There will be a Senate Energy Committee hearing on Monday to continue
deliberations on AB 1x (Keeley). So far, I have no other scheduled meetings
or hearings for next week. Stay Tuned.
--end--
Julee Malinowski-Ball
Senior Associate
Edson + Modisette
916-552-7070
FAX-552-7075
[email protected] |
FYI
-----Original Message-----
From: Dernehl, Ginger
Sent: Friday, November 16, 2001 2:45 PM
To: Shapiro, Richard
Subject: Government Affairs Organization Announcement
With the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed, it seemed an appropriate time to effect some organizational changes so that we as a group are better prepared to meet the challenges of the future. Before I turn to the organizational changes, I would like to say a few words about those who will be leaving the company as a result of the initial severance (you'll know who they are by their absence on the organizational chart): Leading and being a part of this group has been a privilege?I am thankful for every day that I have had that responsibility and thankful for however long I continue to have the responsibility. This sense of privilege and thankfulness is primarily driven by having had the opportunity to get to know and care about such a dedicated group of professionals and support staff and who, to a person, are also very decent and good people. To say good-bye to some of our colleagues is not easy. I want to, on behalf of all of us, thank them for their hard work, their integrity, their decency, and the good times and laughter that we shared. I trust that many of us will find ways to sustain friendships that have been and will continue to be very special. Thanks to each of you who are leaving for all you have done.
As to the organizational structure, it has become increasingly apparent to me that the existing organization, with a mix of groups organized along functional and regional lines (particularly within the U.S.), has impeded our ability to get things done in the most efficient fashion at times. The need to rationalize the organizational structure, in order to consolidate all U.S. energy functions, is a strong need from my perspective. As a result, Jim Steffes will lead the U.S. Energy group along with Sue Nord, who will jointly report to Jim and myself. Sue will assist Jim in the leadership of the group and take on project management responsibilities as warranted to help Jim shoulder a significant burden. Also reporting to Jim will be a leadership group for U.S. Energy that will be as follows: Wholesale Electricity will be led by Christi Nicolay; Retail Electricity and Natural Gas will be led by Harry Kingerski; Wholesale Gas will be led by Leslie Lawner. Last, but not least, Jeff Dasovich and Sue Mara, who will continue to focus on California energy issues, will report to Jim. (Sue Mara will also be part of the Wholesale electricity team).
Steve Montovano, who will continue to report to me, will lead a commercial development effort along with Dan Allegretti.
With the elimination of the regional groups, I also recognize that there is a need to continue to focus on how we as a group address our political/legislative needs across the U.S. Paul Kaufman will lead a small group that will address that need and that will focus on state political support. Paul will also take the lead for Government Affairs in support of corporate development efforts across the U.S.
Much of the rest of the group remains the same. Linda Robertson will continue to lead the Washington group with Sarah Novosel, who reports to Linda, taking the lead role in our coordination of activities at FERC. Amr Ibrahim will continue to lead the support of the Global Assets group and also continue to manage the Risk Analytics function. Maggy Huson will take over support of the non-energy business units, which are as follows: Global Markets, Industrial Markets, Networks, and Broadband. Rob Hemstock will continue to lead the support of Enron Canada. Paul Dawson, who heads up government affairs for Europe; Sergio Assad, who heads up government affairs for South America; and Mike Grimes and Mark Crowther, who head up our Asian efforts, will continue to jointly report to the business units and myself.
I am also forming a North American leadership group for Government Affairs to provide policy guidance for the larger group and the company. That Committee will consist of Rob Hemstock, Maggy Huson, Amr Ibrahim, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself. We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself. Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.
No organizational structure or set of organizational changes is either perfect or permanent. I believe these changes will make us better and more prepared for the future. However, we must be prepared to further adjust as the future unfolds for the company.
One final note: I am deeply sorry that each of you has had to live through this uncertain and troubled period for the company. We are all saddened by the recognition that we are in the midst of changes that will leave our group fundamentally altered, but we must resolve to do our best for each other and ourselves during this period of change to ensure that what emerges, for those of us who do remain a part of the new Dynegy, reflects the excellence and integrity that has characterized our group. Personally, I will do all I can, for as long as I can, to steer the group through this to the very best place possible. Your continued dedication and support is very much appreciated. Hang in there and thanks. |
FYI. Please see note chain. Legislative effort differs considerably from this. Note on that bill and today's Leg events to follow.
Best,
Jeff
-----Original Message-----
From: Huhman, Steve [mailto:[email protected]]
Sent: Monday, August 27, 2001 7:00 PM
To: 'Dan Douglass'; ARM; Vicki Sandler; Tamara Johnson; Mara, Susan;
Huhman, Steve; Roger Pelote; Rob Nichol; Randy Hickok; Nam Nguyen; Jim
Crossen; Dasovich, Jeff; Janie Mollon; Jack Pigott; Greg Blue; George
Vaughn; Gary Ackerman; Ed Cazalet; Denice Cazalet Purdum; Curtis Kebler;
Curt Hatton; Corby Gardiner; Charles Miessner; Carolyn Baker; Bill Ross;
Karen Shea; Max Bulk
Subject: RE: CRITICAL!! IMMEDIATE REVIEW NEEDED
If Legal analysis indicates that we can make a strong case for either
hearings, or a change of date, Mirant would be a supporter. Due to time
constraints, we may not be available to contribute to strategy discussions
in the next day or two, however. If the group comes up with an action that
it believes makes good sense, Mirant will participate. - - Steve
-----Original Message-----
From: Dan Douglass [mailto:[email protected]]
Sent: Monday, August 27, 2001 7:23 PM
To: ARM; Vicki Sandler; Tamara Johnson; Sue Mara; Steve Huhman; Roger
Pelote; Rob Nichol; Randy Hickok; Nam Nguyen; Jim Crossen; Jeff Dasovich;
Janie Mollon; Jack Pigott; Greg Blue; George Vaughn; Gary Ackerman; Ed
Cazalet; Denice Cazalet Purdum; Curtis Kebler; Curt Hatton; Corby Gardiner;
Charles Miessner; Carolyn Baker; Bill Ross; Karen Shea; Max Bulk
Subject: CRITICAL!! IMMEDIATE REVIEW NEEDED
THE COMMISSION HAS ISSUED A REVISED DRAFT OF THE BARNETT DECISION TODAY
WHICH RETROACTIVELY SUSPENDS DIRECT ACCESS TO JULY 1.
The cover letter states as follows:
"This version differs from the draft mailed on August 15, 2001 in several
ways. First, the effective date of the suspension has been changed from
September 1, 2001 to July 1, 2001 (as proposed in the draft mailed June 15,
2001). Second, the draft decision clarifies that customers who have executed
direct access contracts prior to July 1, 2001 may continue to receive power
from electric service providers for the initial term of the contracts.
Several other editorial and explanatory changes have also been made.
Assembly Bill No. 1 from the First Extraordinary Session (AB1X) requires
that direct access be suspended until the Department of Water Resources no
longer supplies power to the customers of the three largest regulated
electricity companies. It directs that the Commission determine the
effective date of the suspension. In order to reduce the possibility of harm
to customers and to resolve potential conflict, parties should comment on:
(1) whether AB1X suspends the entire direct access program, including all
transactions under that program, (2) how the Commission can comply with AB1X
if it exempts written contracts for direct access executed before July 1,
2001 from the suspension, and (3) whether July 1, 2001 is an appropriate
date for the suspension......Comments on the draft decision are permitted.
Those comments are to be electronically served on the service list (for
those who have electronic addresses) no later than 10:00 a.m. on September
4, 2001, and shall be filed with the Commission by 5:00 p.m. on that date."
The specific wording in the Decision is:
"The Legislature has directed this Commission to suspend direct access until
DWR no longer procures power for the retail end-users, and we find it should
be suspended effective July 1, 2001. The Legislative direction is clear;
and the suspension should apply to SCE, Pacific Gas and Electric Company
(PG&E), and San Diego Gas & Electric Company (SDG&E). In the interest of
providing cost stability for current direct access customers, written
contracts for direct access signed before July 1, 2001 are exempt from the
suspension for the initial term of the contracts."
It also provides that:
"In comments on the draft decision, several parties questioned the need for
the Commission to implement the legislative suspension of direct access as
soon as July 1, 2001. By the draft decision mailed for comment to the
parties on June 15, 2001, market participants were provided notice that
direct access would be suspended as of July 1, 2001. The Commission
postponed its consideration of the draft decision. However, we do not
change the effective date of the suspension. The underlying legislation was
introduced on January 3, 2001, enrolled and sent to the Governor on February
1, 2001, and signed by the Governor the same day. Market participants have
now had eight months since then to prepare for this event. We do not wish
to reward customers who have switched to direct access since July 1, 2001 in
the hope that we would change the effective date of the suspension when this
switch could disadvantage customers who continue to receive bundled service
from the utility."
The decision also states that no parties have raised any factual issues
which would justify hearings, which presumably, although not explicitly,
disposes of the joint AReM/WPTF filing. I presume we will want to file in
strong opposition. Suggestions on strategy? It might be a good idea to
have a conference call on this and get started immediately with raising a
movement to counter this.
Dan
Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd. Suite 244
Woodland Hills, CA 91367
Tel: (818) 596-2201
Fax: (818) 346-6502
[email protected] <mailto:[email protected]> |
----- 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 |
-----Original Message-----
From: [email protected]@ENRON
[mailto:[email protected]]
Sent: Friday, January 19, 2001 5:17 PM
To: [email protected]
Subject: High Speed Regulation in California - CERA Alert
Title: High Speed Regulation in California
URL: http://www20.cera.com/eprofile?u=35&m=2208
A Feverish Pitch
The pace of regulatory and political events in California has taken on the
feverish pitch of the energy market crisis itself. Important decisions
regarding a wide range of market structure issues are being made quickly at
the
California Public Utilities Commission (CPUC) and the state Legislature,
increasing the level of uncertainty most market participants already perceive
in the quickly evolving California market. Sudden changes are being made to
the
market structure, changes that used to require years in California,s complex
regulatory and legislative proceedings.
As rolling blackouts have rippled through urban centers of Northern California
on January 17 and 18, including in portions of downtown San Francisco,
Sacramento, and the Silicon Valley, state officials are scrambling to set up
the appropriate credit mechanisms to ensure the continued delivery of scarce
western energy supplies to California,s two largest utilities. Even at prices
near $800 per megawatt-hour (MWh), the California Department of Water
Resources
(CDWR), attempting to buy power on behalf of Pacific Gas and Electric (PG&E)
and Southern California Edison (SCE), has been unable to secure enough to keep
the lights on. In the mean time, legal actions by some energy suppliers
threaten to tip the utilities into bankruptcy*and are being held at bay only
by
direct intervention of California,s governor.
Below is a summary of the various state actions being pursued concurrently:
*California governor. California Governor Gray Davis continues to attempt to
act on behalf of PG&E and SCE to secure long-term contracts for supply from
merchant generation owners and marketers in California. On the same front, the
governor has been negotiating with generators in an attempt to keep them from
seeking compensation through the courts for energy delivered to the utilities.
Court-ordered reimbursement could prompt bankruptcy.
*Legislature. Bills have been approved to authorize continued power purchases
on behalf of PG&E and SCE by the CDWR, to restructure the independent system
operator,s (ISO) governing board to consist of five members appointed by the
governor, to restrict the ability of the ISO to enter into a broader
interstate
regional transmission organization (RTO) without the explicit approval of
California,s Electricity Oversight Board, and to prohibit the divestiture of
the investor-owned utilities, remaining generating assets until 2006. The
vehicle for pursuing authorization of state bond financing for acquisition of
transmission assets and construction of new generation facilities is still
being developed.
*California Public Utilities Commission. On January 18 the CPUC adopted a
decision prohibiting the sale of SCE,s Mohave Generating Station to AES. This
voids a sale that was announced but not closed. The CPUC also delayed
decisions
regarding SCE,s application to end its rate freeze and the prudency criteria
for utilities entering into long-term supply contracts.
Some of these issues will continue to evolve as they progress along their
respective and sometimes intersecting paths, and some will need to pass
through
multiple review bodies. This rapid and erratic evolution has not helped to
decrease either the financial risk associated with supplying energy to
California,s two largest utilities, or the level of uncertainty in developing
new generation to supply California in the future.
The ISO anticipates that it will call stage 3 emergencies (reserves less than
1.5 percent) for January 19 and will most likely continue to curtail
interruptible customers through the weekend. Western energy supplies are being
strained by recent heavy usage of hydroelectric facilities where water
supplies
are already as much as 25 percent below average, owing to low precipitation
and
continued plant outages near 9,000 MW in California. The gravity of the
financial condition of California,s two largest utilities is exemplified by
the
need for other, more creditworthy intermediaries, including California
municipal utilities, state agencies, and some unregulated energy suppliers, to
act as temporary guarantors for the acquisition of energy on behalf of PG&E
and SCE.
**end**
Follow above URL for full report.
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For more information and to register, please visit
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BUSINESS HIGHLIGHTS
Enron Producer One
Enron Producer One facilitates one-stop shopping for the producer,s
infrastructure needs. Through business relationships with Hanover
Measurement Services and Applied Terravision Systems, Enron Producer One will
offer and custom-configure a number of valuable production services and
pricing plans to reduce overhead and simplify back-office tasks. Initial
products offered are well connects, transportation, marketing, measurement
and accounting services. Enron Producer One is managed and supervised by
John Grass.
IN THE NEWS
CEO says Texas in good shape for electricity deregulation
DALLAS (AP) - Enron Corp.'s chief executive and president said Tuesday he
believes that Texas energy markets are in good shape as the state prepares
for deregulation.
Jeffrey Skilling told an audience of about 400 business people at a downtown
hotel that California "has given the term deregulation a terrible name."
Electric deregulation in Texas officially starts Jan. 1. "In Texas, I think
we've got a pretty good system," he said.
In San Francisco on Tuesday, the California Public Utilities Commission
unanimously approved electricity rate increases of up to 46 percent to try to
head off blackouts this summer by keeping the state's two biggest utilities
from going under. When California officials set up deregulation they allowed
the price of wholesale electricity to rise but capped the amount companies
could charge customers, Skilling said. SoCal Edison and Pacific Gas &
Electric say they have lost more than $13 billion since last summer because
they haven't been able to pass on the high cost of wholesale electricity.
Skilling said Texans are in a much better position and shouldn't worry that
their state's deregulation would be like the California experience.
"California, they just put together a crazy system,8 he said in his first
public comments since becoming the Houston-based company's chief executive
officer in February. "The markets in California are the most regulated
markets in North America today. And that's what is causing the problem."
03/27/2001 Associated Press Newswires Copyright 2001.
WELCOME
New Hires
EGM - Charles Crow, Nancy Johnson, Gregor Lehmiller
EIM - Darrell Aguilar, LaTrisha Allen, Wesley Wilder, Ronald Barnes
ENA - Brian Cruver, Craig Dean, Martha Kessler
EnronOnline STATISTICS
Below are the latest figures for EnronOnline as of March 16, 2001.
? Total Life to Date Transactions > 813,000
? Life to Date Notional Value of Transactions > $489 billion
NUGGETS & NOTES
Enron is hosting the New York Energy Risk Management Seminar at the St. Regis
Hotel in New York City on April 5, 2001. Topics include Power Outlook,
Natural Gas Outlook, Hedging Strategies and Weather Risk Management. The RSVP
deadline is March 30th, so please contact Laura Pena as soon as possible at
x3-5376. This is a great event for "new" as well as established customers.
There will be a cocktail reception immediately following the presentations.
NEWS FROM THE GLOBAL FLASH
Enron Reopens Rassau Power Station Plans
Enron Europe submitted an application to build a 1200MW combined cycle gas
turbine power station on the Rassau Industrial Estate at Ebbw Vale, Wales in
July 1998. In November 2000, the Government lifted its stricter power
consents policy, which placed restrictions on the development of new
gas-fired power stations, and Enron is now concluding the consultation
process for the application
As part of the process, updated environmental information has been submitted
to the Department of Trade and Industry and a team from Enron will be
presenting the plans to Blaenau Gwent Council on March 26. This will be
followed by a three-day public exhibition in the local community.
Enron expects to receive a decision later in the year.
European Economic Summit: Acceleration Directives
On March 23 and 24 the European Economic Council Summit will take place in
Stockholm. At
this summit the European Commission will present to the heads of the Member
States a legislative proposal for a Directive and a Regulation that the
Commission adopted on March 13 to speed up the completion of the internal
electricity and gas markets.
Enron issued a statement to the media on the evening of Wednesday 21st March
stating that it specifically endorses the following initiatives incorporated
in the text of the adopted proposal:
Legal unbundling of the transmission and distribution networks as a realistic
solution, ensuring the independence of transmission and distribution system
operators.
Mandatory appointment of independent regulators in each country with the
obligation to fix or approve transmission tariffs before they come into force.
The current timetable proposed by the Commission: market opening for
electricity in 2003 and for gas in 2004 (industrial, commercial and wholesale
customers); and for supplies to all consumers including households by 2005.
The setting of rules in the Regulation for how power transmission tariffs can
be charged for cross-border transactions and how congestion and capacity
allocation at borders within the EU should be managed by transmission system
operators.
Enron concludes that it is encouraged by the efforts of the Commission to
accelerate the European electricity and gas market opening and the
reinforcement of third party rights of access to transmission networks. The
Commission's approach of harmonizing both the timetable and the regulatory
framework deserves support from all Member States.
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries. It is intended for internal use only
and should not be disclosed. |
Attached please find a listing of personnel assignments for Government Affairs support for ENA. Please call me if there are any questions.
Jim
---------------------- Forwarded by James D Steffes/NA/Enron on 05/22/2001 05:59 PM ---------------------------
Linda J Noske@ECT
05/22/2001 04:14 PM
To: James D Steffes/NA/Enron@Enron
cc:
Subject: Government Affairs Support for ENA
---------------------- Forwarded by Linda J Noske/HOU/ECT on 22/05/2001 04:13 PM ---------------------------
Linda J Noske
22/05/2001 01:07 PM
To: Alan Comnes/PDX/ECT, Aleck Dadson/TOR/ECT@ECT, Allison Navin/Corp/Enron@ENRON, Amr Ibrahim/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Barbara A Hueter/NA/Enron@Enron, Bernadette Hawkins/Corp/Enron@ENRON, [email protected], Bill Moore/NA/Enron@Enron, Carin Nersesian/NA/Enron@Enron, Carmen Perez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carolyn Cooney/Corp/Enron@ENRON, Charles Yeung/HOU/ECT@ECT, Chauncey Hood/NA/Enron@ENRON, Chris Long/Corp/Enron@ENRON, Christi L Nicolay/HOU/ECT@ECT, Dan Staines/HOU/ECT@ECT, Daniel Allegretti/NA/Enron@Enron, Dave Mangskau/Corp/Enron@ENRON, Dave Perrino/SF/ECT@ECT, Donald Lassere/NA/Enron@Enron, Donna Fulton/Corp/Enron@ENRON, Elizabeth Linnell/NA/Enron@Enron, Eric Benson/NA/Enron@ENRON, Frank Rishe/NA/Enron@Enron, Geriann Warner/NA/Enron@Enron, Germain Palmer/Corp/Enron@ENRON, Ginger Dernehl/NA/Enron@Enron, Gloria Ogenyi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Harry Kingerski/NA/Enron@Enron, Howard Fromer/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Janel Guerrero/Corp/Enron@Enron, Janine Migden/NA/Enron@Enron, Jean R Dressler/NA/Enron@Enron, Jean Ryall/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Joe Allen/NA/Enron@Enron, Joe Connor/NA/Enron@Enron, Joe Hartsoe/Corp/Enron@ENRON, John Shelk/NA/Enron@Enron, Joseph Alamo/NA/Enron@Enron, Kathleen Sullivan/NA/Enron@ENRON, Kathy Mongeon/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kerry Stroup/NA/Enron@Enron, Kirsten Bellas/NA/Enron@Enron, Lara Leibman/NA/Enron@Enron, Larry Decker/NA/Enron@Enron, Laurie Knight/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Linda J Noske/HOU/ECT@ECT, Linda Robertson/NA/Enron@ENRON, Lindsay Meade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lisa Yoho/NA/Enron@Enron, Lora Sullivan/Corp/Enron@ENRON, Lysa Akin/PDX/ECT, Marchris Robinson/NA/Enron@Enron, Margaret Huson/ENRON@enronXgate, Maria Arefieva/NA/Enron, Maureen McVicker/NA/Enron@Enron, Melinda Pharms/HOU/ECT@ECT, Mike Roan/ENRON@enronXgate, Mona L Petrochko/NA/Enron@Enron, Nancy Hetrick/NA/Enron@Enron, Pat Shortridge/Corp/Enron@Enron, Patrick Keene/NA/Enron@Enron, Paul Kaufman/PDX/ECT, Rebecca W Cantrell/HOU/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Robert Frank/NA/Enron@Enron, Robert Hemstock/CAL/ECT@ECT, Robert Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ron McNamara/NA/Enron@Enron, Roy Boston/HOU/EES@EES, Rubena Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandra McCubbin/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Scott Bolton/Enron Communications@Enron Communications, Stella Chan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen D Burns/Corp/Enron@ENRON, Steve Montovano/NA/Enron@Enron, Steve Walton/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Sue Nord/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Susan M Landwehr/NA/Enron@Enron, Susan Scott/ET&S/Enron, Terri Miller/NA/Enron@Enron, Thane Twiggs/ENRON_DEVELOPMENT, Tom Briggs/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT, Tom Hoatson/NA/Enron@Enron, Vinio Floris/Corp/Enron@Enron
cc:
Subject: Government Affairs Support for ENA
To better support Enron North America, the following clarifies the roles and responsibilities within Government Affairs.
? Christi Nicolay will assume a Lead Coordinator role for all power and natural gas matters throughout the country. In her new position, Christi will have responsibility to ensure that our advocacy (including RTO development) is consistent with Enron's broad interests. Christi has spent the last 4 years providing day-to-day coverage for EPMI's East Power desk. Prior to that, Christi worked for FGT and Bracewell & Patterson on natural gas matters. Please join me in congratulating her on this important role.
? Because our support for pro-competitive natural gas policies is critical for the continued success of ENA, Leslie Lawner and Rebecca Cantrell will lead ENA's advocacy on natural gas issues working with Christi Nicolay. Donna Fulton will coordinate our natural gas efforts before FERC. In addition, the Regional Government Affairs teams will support all state level natural gas matters before the appropriate PUC. The primary contacts are (1) Steve Montovano - Atlantic Seaboard, (2) Roy Boston - Mid-continent, (3) Jean Ryall - Texas, (4) Jeff Dasovich - California, (5) Paul Kaufman - Other Western States.
? Sarah Novosel will continue to coordinate our Northeast power pool activity. Ray Alvarez will coordinate FERC matters involving Western power matters, including California. Donna Fulton will coordinate FERC matters in the Eastern power markets.
? Charles Yeung and Richard Ingersoll continue to represent Enron before NERC. In addition, Andy Rodriquez has recently joined our NERC team.
? Dave Perrino has recently joined Steve Walton's group from the Automated Power Exchange (APX). Also, Susan Scott will replace Christi Nicolay in supporting the EPMI East Power desk. Susan was previously working at ET&S supporting Transwestern. Please join me in welcoming Andy, Dave and Susan to the team.
? We have aligned our personnel to ensure effective coverage. For a detailed listing of Functional Team responsibilities, please see the attached chart. |
SIVY ON STOCKS from CNNmoney.com
October 19, 2001
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The Tyco machine
Today's most successful big growth conglomerate, Tyco continues to produce
-- and confound the skeptics.
By Michael Sivy
Since the early 1990s, Tyco International has compiled a superb track
record. Earnings, cash flow and book value have all increased at a compound
rate of more than 17 percent annually. And recently, those growth rates
have actually accelerated. Earnings could be up as much as 30 percent in
the current fiscal year (which ends Sept. 30, 2002), and average 20 percent
growth over the next five years. So what's not to like?
Fact is, though, Tyco has been the target of ongoing criticism by analysts
and journalists that has weighed down the stock for several years. Much of
Tyco's growth has come from acquisitions, and skeptics keep charging that
these acquisitions somehow inflate earnings (although no one ever seems
able to demonstrate exactly how this inflation occurs).
Criticism of Tyco's results always comes back to one of two charges --
either the company is using its overvalued stock to make deals that
effectively buy earnings or it is taking advantage of overly flexible
accounting laws to inflate its profits by hiding expenses in
acquisition-related write-offs. I have never seen convincing arguments that
either of these things was happening. (And neither did the SEC, when an
analyst's negative report in 1999 prodded the commission to investigate
Tyco's finances.)
Instead, I think that Tyco's strategy is just as it appears. The company
buys relatively inefficient businesses with good basic franchises and then
restructures and cuts costs -- boosting total profits. In the past year
alone, Tyco has acquired or agreed to acquire half a dozen companies.
Businesses currently range from fire-protection systems and printed-circuit
board manufacture to undersea cables and disposable medical supplies.
Acquisition-based growth does carry obvious risks. There has to be a
continuous supply of takeover candidates, the company has to be able to
identify the promising ones and quickly boost profit margins after those
businesses are acquired. But Tyco CEO Dennis Kozlowski, 54, has been
demonstrably good at doing these things for a long time. In addition,
Tyco's cash flow has continued to grow even in years when the share price
was too depressed for the company to buy profits through stock-for-stock
takeovers.
With projected growth of 20 percent a year, Tyco [TYC] certainly looks
cheap. At a current price of $58 a share, Tyco trades at less than 16 times
earnings for the current fiscal year.
It's true that to maintain the maximum rate of earnings growth, Tyco has to
continue to make lots of acquisitions. What I consider more important,
however, is the company's solid potential for internal growth. With a
return on equity that has ranged between 15 and 20 percent, Tyco's existing
businesses should be able to outpace the market's historical return of
around 12 percent a year. That alone justifies a P/E higher than 16. The
additional growth Tyco picks up from dealmaking is just a bonus.
###
Read all of Michael's columns at:
http://money.cnn.com/markets/sivy/
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http://money.cnn.com/email/
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Craig and Kim,
As you know, I have obtained a 60 day trial subscription to Moody's
RiskCalc.
You wanted to know if it makes sense for Enron to purchase RiskCalc.
Well, after plowing through their 100 page manual and sitting through
today's 2-hour Moody's presentation, it is necessary for us to have
information about Enron's counterparties to move to the next step with
RiskCalc.
We have obtained some information on Enron's European counterparties from
our colleagues in the London office.
We need for you and/or your colleagues in the Houston office to supply us
with a list of Enron's North American counterparties.
More specifically, to evaluate Moody's RiskCalc we will need the following
financial inputs for Enron's North American (private firm) counterparties:
Fiscal Year
The prior twelve months of financial data are represented. Annual statements
are usable as well as quarterly statements after summing the flow variables,
such as cost of goods sold, net income, sales, and EBIT. The value should be
a four-digit integer year without mention of the day or month such as 1999 or
2000. Forecasts until the year 2009 can be made. A constant rate of inflation
is applied to future years using last year's (1999) inflation level. In
general this 'estimation error' will not cause any great problems, as size
affects default rates at very large scales (e.g., $10,000,000 vs. $1,000,000
makes a significant difference, $1,000,000 vs. $1,050,00 does not).
Cash & Equivalents
This measure of liquid assets includes cash and marketable securities.
Inventory
Inventories are taken directly from the balance sheet, in thousands dollars,
without any alterations for accounting method (e.g., LIFO, FIFO, Average
Cost). This item represents merchandise bought for resale and materials and
supplies purchased for use in production of revenue. Specifically this would
include purchase cost, sales cost, sales taxes, transportation costs,
insurance costs, and storage costs.
Current Assets
This item primarily represents cash, inventories, accounts receivables,
marketable securities, and other current assets.
Total Assets
Total Assets and every other variable are entered in thousands of dollars.
For example, $15,500,000 should be entered as 15500. Specifically, total
assets are the sum of current assets plus net property, plant, and equipment
plus other noncurrent assets (including intangible assets, deferred items,
and investments and advances). Leave previous year's total assets blank for
Australian companies.
Current Liabilities
Liabilities are positive values. Included in current liabilities are
short-term debt, accounts payable, and other current liabilities.
Total Liabilities
This balance sheet account, total liabilities, is a positive number
representing the sum of current liabilities plus long-term debt plus other
noncurrent liabilities (including deferred taxes, investment tax credit, and
minority interest).
Retained Earnings
Retained Earnings, a historical measure of performance, is the cumulative
earnings of the company less total dividend distributions to shareholders.
Typically, it is the prior year's retained earnings plus net income less
distributions. Retained earnings are generally positive. Some firms with low
credit quality will have negative retained earnings. Leave this field blank
for Australian companies.
Sales
This item consists of the industry segment's gross sales (the amount of
actual billings to customers for regular sales completed during the period)
reduced by cash discounts, trade discounts, and returned sales and allowances
for which credit is given to customers.
Cost of Goods Sold
Entered in thousands of dollars, this value is generally a positive number
less than sales. It represents all costs directly allocated by the company to
production, such as material, labor, and overhead. Not fixed overhead or
items that would be included in Selling, General, and Administrative
Expenses. Leave this field blank for Australian companies.
EBIT
Earning before interest expense is operating income after depreciation. It
can be positive or negative but is usually greater then net income.
Interest Expense
This item represents the periodic expense to the company of securing short-
and long-term debt. Typically, we expect this charge to be approximately the
prevailing interest rate times the total liabilities. One measure of
computing this is: Interest Expense = 0.07 * total liabilities.
Net Income
This item represents the income (or loss) reported by a company after
expenses and losses have been subtracted from all revenues and gains for the
fiscal period including extraordinary items and discontinued operations. A
loss is represented by a negative sign. For example, a $5,000,000 loss would
be entered as -5000. Leave previous year's net income blank for Australian
companies.
Extraordinary Items
Positive or negative, this item represents unusual items that sometimes
appear on the income statement. The items are designated by the company as
extraordinary and presented after net income from continuing operations and
discontinued operations. These items include extraordinary gains/losses,
income (loss) from discontinued operations, and cumulative affect of
accounting changes. Expenses are entered as negative values, gains as
positive values. Leave previous year's extraordinary items blank for
Australian companies.
Country
This model is calibrated for the United States, Canada, and Australia.
We look forward to receiving this information for Enron's private firm North
American counterparties so that we can move on to the next step with the
evaluation of RiskCalc.
Thanks,
Iris |
The Austin Group Energy, L.P.
Monthly Newsletter
Let's describe a typical and recurring nightmare for generating unit
operators. It's noon on August 15, temperatures have reached the upper 90s
all week; you're well into your reserve margin to serve native load, when a
unit trips off line. Do you scramble to find replacement power at record
high prices and worry about the consequences later? Or, have you prepared
for this event?
When the degree of risk has not been quantified, fear of the unknown can
lead to restless nights, and understandably so. The financial implications
can be astounding when a unit outage occurs during a period of high spikes
in market prices.
How does this relate to the recruitment and hiring of talent within your
shop? Allow me to bring the story together. What would you do if your top
employee came to you and said, "You've been great to me and I've learned
alot, but I just accepted a job at your level right down the road and they
like me so much they want me to start tomorrow." Do you spring into 911 mode
or are you ready for this day.
Start a relationship today with The Austin Group Energy. We will keep you
aware of all available talent in your market area. These candidates are
currently employed and do not answer ads. They stay in touch with
opportunities through us to ensure confidentiality. Why would Top 5
marketing companies pay us for the recruitment and placement of over 400
successful hires when they could hire them on their own. The smart and
proactive companies understand how to outpace the pack when it comes to
hiring talent, they call The Austin Group Energy.
THE FOLLOWING CANDIDATES ARE AVAILABLE FOR IMMEDIATE OPPORTUNITIES:
Ref# 00012123
Power Options Trading Desk
This PhD candidate is responsible for long term derivatives
trades/structures (Asian options, heat rate options, weather/power
derivatives structures, swing options etc.)
Ref# 00012124
Rotational Program- Risk Analytics
This MBA Finance candidate is analyzing/evaluating structured transactions
and derivative instruments. Has developed a VBA-based delta-adjusted risk
exposure model for all asset management groups. Designed intermediate-term
forward power curve forecasting model based on gas forward curve. Created
Visual Basic Monte Carlo simulator for Excel for option analysis.
Ref# 00012125
Quantitative Analyst
This M.S. in Applied Mathematics candidate builds short term models
necessary to forecast/schedule usage on a portfolio basis, by various levels
of aggregation (e.g. region, congestion zone, weather zone, customer, etc.)
Constructing statistical and econometric models to accurately predict
seasonal customer usage based on rate class, calendar and geographic climate
patterns.
Ref# 00012126
Quantitative Analyst - Manager
This candidate developed and implemented two Value-At-Risk (VAR) methods for
Natural Gas. Developed and implemented models for pricing and hedging exotic
natural gas options (Gas Daily and Peaker). OpenLink experience with VaR and
mark-to-market calculations.
Ref# 00012127
Director Derivatives Trading and Portfolio Management
Developed Nymex and locational options, position risk management model.
Evaluated and assisted in the process of selecting and implementing a new
real time front and back office financial system with VAR capabilities.
Structured deals for marketers using embedded financial products and traded
natural gas options and fixed for float swaps. Priced and hedged advanced
options and swaps such as swaptions, asians, extendibles, expandibles, and
spread options.
Ref# 00012128
Risk Control Analyst
Support Origination and Trading activities by providing daily mark-to-market
values and VaR reports through accurate and timely entry of financial
transactions into RMS system. Maintain database for RMS system and
Integrated Commodity Trading System (ICTS) for entry of financial trades.
Ref# 00012129
Risk Manager
Responsible for all mid-office trader support functions. Responsibilities
include daily senior management position and P&L reporting, process
improvements, system implementations, structuring of originated
transactions, and rollout of an operational analysis plan.
Ref# 00012130
Senior Commercial Analyst: Pricing and Structures
Developing model to incorporate basis and transportation into gas fuel costs
utilized in mark-to-market valuation of a gas-fired generation asset.
Determined market value of regional power by confirming the marks estimated
by the trade desk against independent broker prices. Forecasted resulting
previous day's trade-to-market figure for preliminary valuation of book
value.
Ref# 00012131
Director - Risk Management
Analyze financial markets and advise physical traders of hedging and trading
opportunities. Analyze market, secure management approval of trading
strategies and execute financial trades. Generate position reports for
upper management.
Ref# 00012132
Risk Management Specialist
Perform risk management functions for the gas trading organization,
including daily position and P&L reporting. Ensure deal validation and
perform problem resolution for executed trades. Create daily VaR estimates
for both cash and term traders.
Ref# 00012133
Risk Analyst
Determine market value of regional power, confirming the market values
estimated by trade desk against prices set for independent brokers.
Forecast resulting previous day's trade-to-market figure for preliminary
valuation of book value. Participate in daily Value at Risk calculations,
exception reporting for daily variances, updating of daily price curves, and
updating proprietary models which value long term transactions.
Enjoy the holidays! Wishing you all a happy and prosperous 2002!
Sincerely,
Jennifer L. Beard
Vice President, Client Services
The Austin Group Energy, LP
(281) 600-8147
[email protected]
Visit our Website
www.austingrp.com |
Sorry to mess you around on this but we have now booked the flights and we do not need the extra night - is it ok to cancel the extra night. If possible could you please send a new confirm when you have time.
Thanks
Louise
-----Original Message-----
From: "Rich and Kristen Nye" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Rich+20and+20Kristen+20Nye+22+20+3Ckristen+40skihomerental+2Ecom+3E+40ENRON@ENRON.com]
Sent: Thursday, September 13, 2001 10:40 AM
To: Kitchen, Louise
Subject: Re: Beaver Creek Home Rental
I will check on the extra night and let you know. I am in receipt of your
deposit check and am holding it pending closing of the property tomorrow. I
will send you a confirmation next week reflecting the payment and the extra
night if it is available.
Kristen Nye
Premier Home Rentals, Inc.
www.skihomerental.com
888-708-7179
----- Original Message -----
From: <[email protected]>
To: <[email protected]>
Cc: <[email protected]>
Sent: Thursday, September 13, 2001 8:58 AM
Subject: RE: Beaver Creek Home Rental
> I know we are not definitely booked but is there any possibility of
booking
> the accomodation for an additional night - so we depart on the 17th.
>
> Let me know.
>
> Thanks
>
> Louise
>
> -----Original Message-----
> From: "Rich and Kristen Nye" <[email protected]>@ENRON
>
[mailto:IMCEANOTES-+22Rich+20and+20Kristen+20Nye+22+20+3Ckristen+40skihomere
[email protected]]
>
>
> Sent: Monday, August 27, 2001 10:56 AM
> To: Kitchen, Louise
> Cc: Schoppe, Tammie
> Subject: Re: Beaver Creek Home Rental
>
> Louise-
>
> Thank you for your kind email. I look forward to handling all the
> details
> of your personal trip in the same manner we organize your corporate
> outings.
>
> With regard to deposit I'm sorry that we cannot process the American
> Express
> card for this particular home so I must ask that you send a check at
> your
> convenience. The amount and address are on the reservation I faxed
> over.
> Please let me know if you did not receive that. I will send you a
> confirmation once it has been received.
>
> Again thank you for choosing Beaver Creek for your personal and
business
> trips, we appreciate your patronage.
>
> Kristen Nye
> Premier Home Rentals, Inc.
> www.skihomerental.com
> 888-708-7179
> ----- Original Message -----
> From: "Kitchen, Louise" <[email protected]>
> To: "Rich and Kristen Nye" <[email protected]>
> Cc: "Schoppe, Tammie" <[email protected]>
> Sent: Monday, August 27, 2001 7:26 AM
> Subject: RE: Beaver Creek Home Rental
>
>
> > Good morning
> >
> > Thanks very much for the email - I was on vacation in Napa last week
> so
> > couldn't reply earlier. Tammie (my assistant) can either give you my
> > Amex number over the phone or send you a cheque for the deposit -
> > whichever you prefer. We are looking forward to the trip.
> >
> > Speak to you closer to the time and thank you both for making our
> > offsite in Beaver Creek last week particularly enjoyable and
extremely
> > well organized.
> >
> > Louise
> >
> > > -----Original Message-----
> > > From: "Rich and Kristen Nye" <[email protected]>@ENRON
> > >
> [mailto:IMCEANOTES-+22Rich+20and+20Kristen+20Nye+22+20+3CKristen+40Ski
> > > [email protected]]
> > > Sent: Thursday, August 23, 2001 11:15 AM
> > > To: [email protected]
> > > Subject: Beaver Creek Home Rental
> > >
> > >
> > > Louise-
> > >
> > > I hope you enjoyed a safe and pleasant journey home on Sunday.
I'm
> > > sure your husband and son were happy to see you.
> > >
> > > I have tentatively reserved the property you viewed at 157 Beaver
> > > Creek Drive for 2/9-2/16. The new owners will be closing on Sept
> 14
> > > and feel confidant in taking deposits immediately. I am faxing
> your
> > > reservation paperwork showing a deposit due of $2975 (25%). The
> > > remaining payment is due 60 days prior to arrival.
> > >
> > > Please let me know if you have any questions or concerns.
> Otherwise,
> > > I will look forward to confirming your reservation once the
deposit
> > > has been received. Thank you again for taking the time to visit
> last
> > > weekend. We look forward to seeing you here with your family in
> Feb.
> > >
> > > Kristen Nye
> > > Premier Home Rentals, Inc.
> > > 888-708-7179www.SkiHomeRental.com << File:
> > > http://www.SkiHomeRental.com >>
> >
> >
> >
**********************************************************************
> > 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.
> >
**********************************************************************
> >
> >
>
>
>
> |
Suggested changes are highlighted below.
John Sherriff@ECT
04/24/2001 12:55 AM
To: (713) 529-7757, Ken Rice/Enron Communications, Kevin Hannon/Enron
Communications, Mark Frevert/NA/Enron, Greg Whalley/HOU/ECT, Mike
McConnell/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Mark
Palmer/Corp/Enron@ENRON, Joseph P Hirl/AP/ENRON@ENRON, Jeremy
Thirsk/AP/Enron@ENRON, Morten E Pettersen/AP/Enron@Enron, Nicholas
O'Day/AP/Enron@Enron, Jackie Gentle/LON/ECT, Richard Shapiro/NA/Enron@Enron,
Jeffrey McMahon/HOU/ECT, Jeffrey A Shankman/Enron@EnronXGate, Raymond
Bowen/enron@enronxgate, Joe Gold/LON/ECT@ECT, Bryan Seyfried/LON/ECT@ECT,
Jeff Kinneman/HOU/ECT, Rebecca McDonald/ENRON_DEVELOPMENT, Carey
Sloan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brian Stanley/EU/Enron, Michael R
Brown/LON/ECT, Mark Evans/Legal/LON/ECT, Fernley Dyson/LON/ECT, Ted
Murphy/LON/ECT@ECT, Rick Buy/HOU/ECT, Richard Causey/Corp/Enron, Mark E
Haedicke/HOU/ECT@ECT, Drew C Lynch/LON/ECT, David Oxley/HOU/ECT@ECT, John J
Lavorato/Enron@EnronXGate, [email protected]
cc:
Subject: Draft Organizational Announcement about Japan
May I please have your comments if any on this draft by close of business
Wednesday. We hope to have agreed on the Q&A's by then and to send it out
the announcement on Thursday.
John
To be sent to: All Enron Europe, all employees in Japan, all Global Markets
and all VPs and up around the company
Enron has established several wholesale businesses in Japan in the last year
including Metals, Power Plant Development (via our investment in EnCom),
Coal, LNG & Weather. We see significant opportunities in each of these
businesses and we will continue to expand our presence in Japan in order to
capture these opportunities. However, while Japan continues to make progress
towards a liberalized electricity market, significant barriers to power
trading remain under the current interim market structure. Until further
tangible steps are taken to improve third party access for electricity in
Japan, we will suspend our power marketing efforts and focus on the
significant opportunities that currently exist in our other wholesale
businesses. [Any statement regarding our existing power sales commitment?]
Once the necessary regulatory changes have been completed we expect to
aggressively pursue Enron's traditional position as the leading buyer and
seller of electricity in every deregulated market.
We are making a number of organization changes in order to better align our
resources with the opportunities in the Japanese market. [deleted text] Joe
Hirl our President of Enron Japan will move to the Global Markets group and
lead a team that will focus on developing all our Global Markets
opportunities in Japan especially Weather, Oil, LNG, Coal, and
Shipping. We expect to continue our general recruiting of Japanese
nationals and as President of Enron Japan, Joe will continue to provide the
overall business leadership to both recruiting and the Analyst and Associate
program in Japan. The Finance origination team headed by Jeremy Thirsk will
continue to report to Joe and also move to Global Markets. Our power trading
group led by Morton Erik Pettersen will transition into other roles around
Enron. The Equity/FX/Interest rate team which is a part of Global Markets
has two employees in the Tokyo office today and they expect to expand their
efforts throughout the year.
The EnCom group, which is our power plant development business (with minority
partners) and headed by Carey Sloan will continue its efforts in developing
power plants in Japan. We are pleased with the progress we are making on a
number of sites and EnCom will continue to report to the Enron Europe Office
of the Chairman.
Our Metals team headed by Kazunari Sugimoto will continue to report through
Enron Metals in London.
By May we expect Enron Credit to have two to three employees in Tokyo pursing
the Credit Derivative business. These employees remain in Enron Credit , a
part of Enron Europe.
EBS has two employees headed by Jim Weisser and this team expects to expand
by year end.
The Industrial Markets team also expects to have two employees in the Tokyo
office in the next couple of months.
In the last seven months the commercial support services for Japan have been
transitioned to London for support and this is not changing. Jane McBride
heads the legal team and will continue to functionally report to Mark Evans,
General Counsel in London. The RAC function will continue to report to Ted
Murphy, head of RAC for Enron Europe. The Risk Management and Accounting
team is headed by Jan-Erland Bekeng will continue to functionally report to
Fernley Dyson in London. The IT, HR, Tax and real estate teams will also
continue to functionally report to London.
Nick O'Day who heads the Public Affairs group (Government & Regulatory
Affairs and the Public Relations) in Japan will report to the Enron Europe
Office of the Chair with a Public Relations functional reporting to Jackie
Gentle in London and a Government Affairs functional reporting to Rick
Shapiro in Houston. We anticipate that his team's efforts will be primarily
directed to supporting the EnCom power plant development team but they will
also continue to provide support for Global Markets, EBS & Industrial Markets.
We have already made considerable progress in breaking into the Japanese
markets across a wide range of Enron businesses and we anticipate that this
will provide significant profit growth for years to come. Through these
current changes we can demonstrate our ability to be flexible and target our
resources where they will realise the most immediate value for the company. |
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Content-Transfer-Encoding: quoted-printable
Date: Wed, 18 Oct 2000 08:34:02 -0500
From: "Tracey Bradley" <[email protected]>
To: "Ronald Carroll" <[email protected]>
Subject: PowerPlus - CA Munis Propose State-Run, Non-Profit Transco For
Market Woe
Mime-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Disposition: inline
PowerPlus
------------------------------------------------------------------------------
--
In effort to regain state authority?
CA Munis Propose State-Run, Non-Profit Transco For Market Woes
A recent proposal by municipal utilities in California to turn the California
Independent System Operator (Cal-ISO) into a state-run transmission company
(transco) has piqued the interest of some industry officials who claim it
will start an effective dialog on the future of the state's energy markets
and the organization responsible for access to the grid, the Cal-ISO.
However, the ISO argues the proposal is a non-solution and will only delay
constructive discussions over the fate of restructuring in California. Others
say the concept is a concerted effort by state agencies to regain control
over the transmission system that California lost when the ISO was approved
by federal regulators.
The California Municipal Utilities Association (CMUA) proposed the concept in
a statement when the organization delivered a filing to FERC seeking a return
to cost-based rates in the state. CMUA filed the petition with the commission
earlier this month, but FERC action on any filing regarding California's
electricity markets will likely have to wait until the commission issues the
results of its investigation into the state's wholesale power markets - due
later this fall.
While a return to cost-based rates in FERC's hands, CMUA has initiated an
innovative discussion on the status of the Cal-ISO, the entity many
California officials fault for some of the problems resulting from the energy
crisis which plagued the state - and indeed the West - much of this past
summer. CMUA claims the current ISO model and governance structure contains
too much red tape which only adds unnecessary delay in crisis situations when
quick action is needed.
CMUA says the biggest fault with the ISO is its connection to the marketplace
it oversees. Ideally, regional transmission organizations (RTOs) should not
have any responsibility over markets and only needs to concentrate on
managing the grid in an independent manner. By forcing the ISO to operate
both the market - the ISO is responsible for managing the ancillary services
markets - and the grid, it cannot be expected to run either efficiently, a
CMUA source says.
"The market here doesn't work," the CMUA source says. "The ISO by default has
been embroiled in the market. The new transco wouldn't be involved with
ancillary services."
"This gets the ISO out of the market," another public power source says. "It
was never envisioned to be a part of [procuring] energy supplies."
Exact details of the structure of the state-run transco have yet to be
resolved because any changes to the ISO will have to come from legislative
and regulatory mandates, the CMUA source says. The group is considering
legislation to initiate the changes, and says the concept resolves what many
officials claim to be a major flaw with the ISO: its stakeholder board.
Currently, the ISO is managed by a board made up of industry representatives
and meets regularly each month. At the monthly board meetings, the ISO makes
most of its crucial decisions on management, governance, and price caps. The
CMUA source contends that the ISO does a suspect job in getting materials to
board members before meetings and if the organization is state-run, it will
be forced to open all executive meetings to the public. "[The transco] would
be non-profit and a government agency so you have open meetings," the source
says. "[The ISO] has not been good at getting material to board members
before meetings."
A state-run transco also would have eminent domain authority to site new
transmission lines, something which the ISO currently lacks. And because the
transco would both own and operate the system, it would have the necessary
incentives to build more transmission, the CMUA source says. "The public
agency will have the power of eminent domain," the source says.
Some industry officials say the idea is part of a concerted effort among
California executives and lawmakers to retain as much control as possible
over the ISO. In numerous reports issued this past summer in response to the
energy crisis, the ISO and its regulator FERC were seen as two of the main
culprits. By making the ISO an official state agency that owns the system,
California retains its authority over the grid. "This may very well play as a
part of a state strategy to get more control back to California," an ISO
board member says. "If it's a state agency, [the state is] going to have a
much bigger role."
The concept has not been well-received by the ISO, where an official there
calls the idea "a solution to a non-problem." This source says the ISO has
done a laudable job in maintaining the efficiency of the transmission grid
and has spent nearly $800 million in transmission expansion. "This is a
curious solution to a non-problem," this official says. "The market operation
of the ISO is a non-issue. . . . The transmission system is being utilized
much more efficiently now than it was before."
The official also says that it is unclear whether a state-owned transco would
meet FERC's RTO requirements and such an entity would further cloud the line
between state and federal jurisdiction. "If it is a public owner, it is not
clear if its federally- or state-owned," this source says. "It solves a
non-problem. I don't know how easily it would be to integrate it into an
interstate market." |
While I appreciate the virtue of flying below the radar if possible, the
matter here is complicated by the fact that FERC's discovery rules (18 CFR,
Subpart D) pertain only to "proceedings set for hearing . . . and to such
proceedings as the Commission may order." 18 CFR 385.401. In this case,
FERC stated that "a trial-type hearing is not necessary . . . ." and
specifically rejected the use of a "trial-type evidentiary hearing." Slip
op. at 47-48 & n.97. Thus, while I have not researched the matter as yet, my
preliminary view is that the CPUC's attempt to invoke FERC's discovery
processes would appear to be outside the contemplation of FERC's Nov. 1 order
and its regulations, unless FERC specifically orders discovery in this case.
(The CPUC seems to recognize the relevance of this consideration when it
specifically attempts to equate "paper" hearings with "trial-type" hearings;
see page 1 of its Motion.)
The CPUC's motion may prompt FERC to decide whether or not to allow discovery
in this case under Rule 401. While the CPUC's motion does not apply directly
to marketers, FERC's ruling will be precedent in the event the CPUC or
someone else hereafter serves discovery on other parties. As a result, we
need to consider whether laying in the weeds risks losing an opportunity to
present our views on whether FERC should allow discovery in a paper hearing
with an expedited decisional track, particularly in light of the fact that
Staff has already conducted.
>>> Jeffrey Watkiss 11/08/00 10:31AM >>>
Does anyone have an idea as to why marketers, including EPMI, are not
included in the list of subject companies: Exh. B? Since EPMI is not a
subject of the motion, why should it answer? Lying in the weeds may be a
more prudent course of action.
>>> "Fergus, Gary S." <[email protected]> 11/07/00 10:08PM >>>
I just spoke with Mary to make sure we have the same information. Here are
the facts we have so far. On November 4th, the CPUC filed a motion with
FERC to adopt the form of protective order that the CPUC entered, to compel
the production of documents and to shorten time to answer. According to
Exhibit B (read to me by Nancy Pickover at Bracewell) the following CPUC
moved against the following entities: AES, Williams, Duke, Dynegy, Reliant
and Southern. Enron entities were NOT named in exhibit B. This is not to
say that we could not be easily added to the group. While the motion reads
as if the CPUC was moving against everybody, in fact, in footnote 2 they
state they are only moving against the entities named in Exhibit B. We will
have Exhibit B in hand first thing tomorrow via FEDEX to confirm this. To
repeat, Enron is not named yet.
Thanks
Gary
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, November 07, 2000 6:23 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]
Cc: [email protected]; [email protected]
Subject: Important - CPUC Motion - Confidential Attorney Client
Privilege and Work Product
As you may already know, the CPUC filed a motion at FERC asking for a
protective order and to compel production of the information they subpoened
from us in the CPUC's OII case. Given the timing, we should discuss this
on our conference call scheduled for tomorrow.
They request that we be required:
to answer their motion on Thursday,
to provide the information within 5 working days of a FERC ordering
production, and
to provide of P&L information and spread sheets detailing our deals,
specifically delivery point, delivery date, counterparty, volume and
price.
We may not have a problem providing this information for use by FERC in its
proceeding subject to a confidentiality agreement but I think we would
oppose their requests for:
the information to be provided for "government eyes only" - this would
prohibit EPMI from defending itself vis-a-vis other market participants.
a FERC confidentiality order that would could allow FERC to "share" this
information with the CPUC (for purposes of the PUC's OII proceeding)
pursuant to 16 U.S.C. 824h(c). 16 USC 824g(c) requires the Commission
to make information available to state commissions as may be of
assistance in state regulation of public utilities. We should argue
that 16 USC 824h(c) does not apply here given that we are not a public
utility nor does the PUC regulate how much market power wholesale
marketers exercise or the level of market power mitigation (these are
the bases the PUC provides for explaining why it should have this
information.)
the above contractual information to allow them to analyze the
competitiveness of the forward market to evaluate the wisdom of the
Commission's decision to allow the UDC's "unfettered access" to the
forwards market. This argument is unpersuasive given that the CPUC can
get information about the competitiveness of the forward markets from
the Wall Street Journal's listing of NYMEX prices.
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Ken,
Let me expand on some of issues we covered in Houston earlier this week.
Some of this is outside my purview, but want you to have the benefit of my
objective, outside, reasonably well-informed perspective. Please call
to discuss any of this at any time.
1.) Establish your own internal advisory group to plan/coordinate all
company actions during this period. Meet/call with full group at end of
each day to assess develoments, adjust strategies, set next day's actions.
In my view, that group should include:
Bowen, Derrick, Delainey, Frevert, McMahon, Tilney. (I am happy to
participate at any time.)
2.) I'd assign specific tasks to this core group and other senior execs.
as follows:
Bowen: new IR point person. Have him visit and re-visit sell-side
analysts, provide update on status of core business, financing, promise
ongoing communications, full disclosure, renewed commitment to candor,
clarity. (I can help prepare/advise him on this new role.)
Derrick: monitor SEC investigation, shareholder suits etc. Keep tight
leash on MacLusas and Wilmer Cutler. Engage outside lawyers in
discussion of SEC leak strategy, endgame and public relations
implications. (I have considerable experience in this space and would be
happy to talk/work with Derrick to insure that the public face of this SEC
investigation is seriously evaluated as part of Enron's SEC strategy.)
Delainey: have him spend his time meeting, calling, talking with
wholesale and retail customers. Quite similar presentation to that Bowen
delivers to the Street. Humility, candor, commitment to continue serving
customers should be core thematics.
Frevert: have him devote his time to calling on, talking with
international customers with similar messages to those delivered by
Delainey. Also have him take charge of wholesale review/potential revamp
of Enron's performance review/comp programs. (This is where Herb
Allison, Merrill's former COO, could be helpful.)
McMahon: he's your point person with lenders, ratings agencies. I'd
also have him work with Tilney to construct the clearest case statement
possible explaining Enron's
strategy for is core businesses and why they are so compelling.
Suggestion: Irwin Stelzer is the single best writer who can simplify
complex issues that I know. He' s offered to help. I encourage you to
have him see whomever he needs to see and then write the Enron business
strategy story. He'd also be a great spokesperson and advocate with
Wall Street. Might be worthwhile having Bowen take Irwin to a few key
meetings with sell-side analysts. I think Irwin would be a huge asset in
that role.
Tilney: have Beth make sure that every communication from Enron,
internally and externally, is clear, concise, candid and responsive to
each audience's needs and expectations. She should manage Mark Palmer
and his staff, Kekst people and any other communications resources
(internal and external) that should be brought to bear druing this period.
Whalley: have him spend all his time with your traders and those among
counterparties with whom he is a critical factor. I'd keep him away from
the Street and from the media.
Kean: have him focus solely on regulatory and legislative audiences.
He should personally work federal and state regulators, Capitol Hill
(members and staff)
and present updated presentation about the company's business, status of
financials,
status of internal reviews and SEC investigation. I do think Steve's
core presentation should be vetted carefully by Derrick, McMahon and
Tilney before he goes on the road.
Palmer: I'd leave it to Tilney as to whether Mark should continue as
principal spokesperson for Enron. Don't know if Tilney's right, but I do
think you need a new face and voice to the media.
Koenig: I'd pull him back, have him work under Bowen to craft/refine
presentations to the Street (in close coordination with MacMahon and
Tilney). As we discussed, I think Koenig is damaged goods on the Street
right now.
Lay: I think you should act as the general who sets strategy, deploys
your senior human assets and motivates your troops. I think you should
orchestrate every strategic action of the company, talk regularly to
employees, selectively call on strategic customers, and reassure the
world that Enron touches that you are "in charge," "hands on," and doing
"everything possible" to guide this damaged ship into safer waters.
3.) Encourage the board Special Committee to prepare an Executive Summary
of its report to you and the board that is entirely suitable for public
consumption. (I would be happy to help craft and edit that document.)
Assuming the report fundamentally exonerates the company, this is a
critically important document. You must assume that this report will
become public eventually. It is be prepared and submitted with that
clearly in mind.
4.) Retain a second investment bank to augment Goldman. My suggestions:
talk with Jeff Holzschuh at Morgan Stanley or Bruce Wasserstein at Dresner
Kleinwort Wasserstein. Lehman's top energy people are gone and I think
Rick Gordon/Merrill is seen as too close to you.
I've gone on too long. Let me know how I can be specifically helpful to
you and/or your colleagues. I'll stay in touch via voicemail or e-mail
if and as I have specific tactical suggestions. I've available to you
or your colleagues at any time.
Harry
-------------------------------------------
Harry W. Clark
Managing Partner
Clark & Weinstock
[email protected]
(212) 953-2550 (office)
(646) 228-7253 (cell)
(203) 661-6901 (home office) |
Price cap aand Oversight Board frivolities
---------------------- Forwarded by Susan J Mara/SFO/EES on 09/08/2000 08:09
AM ---------------------------
Carl Imparato <[email protected]> on 09/07/2000 11:07:54 PM
Please respond to [email protected]
To: [email protected]
cc:
Subject: [Fwd: FW: You should look at this -- Reuters on $100/MWh price caps
for ISO and PX]
More bad stuff on the way...
Carl
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Reply-To: <[email protected]>
From: "Fred Pickel" <[email protected]>
To: "Richard Tabors \(E-mail\)" <[email protected]>, "Scott Englander
\(E-mail\)" <[email protected]>, "Narasimha Rao \(E-mail\)"
<[email protected]>, "Judith Cardell \(E-mail\)", "Ellen
[Banaghan] Wolfe \(E-mail\)" <[email protected]>, "Carl Imparato
\(E-mail\)" <[email protected]>
Subject: FW: You should look at this -- Reuters on $100/MWh price caps for
ISO and PX
Date: Thu, 7 Sep 2000 23:45:44 -0400
Message-ID: <[email protected]>
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Oh boy!? What a mess.
?
?Frederick H. Pickel, Ph.D
?Vice President
?Tabors Caramanis & Associates
?Los Angeles, California
?& Cambridge, Massachusetts
?email: [email protected]
?alternate email: [email protected]
?tel +1 (323) 937-7920
?
-----Original Message-----
From: Sam Van Vactor [mailto:[email protected]]
Sent: Thursday, September 07, 2000 7:44 PM
To: [email protected]
Cc: Dona K. Lehr
Subject: You should look at this
?
By Nigel Hunt
?? LOS ANGELES, Sept 7 (Reuters) - The cap on wholesale power prices in
California could be cut for the third time this year, this time to $100 per
megawatt hour after starting the year at $750 per MWh.
?? The state's Electricity Oversight Board (EOB) is to make a request to the
California Independent System Operator (ISO) within the next few days on the
issue following a resolution by the state's lawmakers last week.
?? "We will make a formal request within the next few days," EOB Executive
Director Gary Heath said.
?? An assembly joint resolution approved last week called on the EOB to
direct the ISO to "show cause why the price caps in the ancillary services
and real-time energy markets should not be lowered to $100 per megawatt-hour
immediately and continue until at least March 31, 2001."
?? The cap currently stands at $250 per MWh after previous cuts from $750 to
$500 and $500 to $250 amid growing consumer unrest about skyrocketing
electricity bills and allegations of possible price gouging by generators.
?? The assembly resolution says the EOB should report back to the
legislature by December 1, 2000.
?? There was heavy criticism of the ISO, which controls most of the state's
power grid, by lawmakers this year at its governing board twice rejected
resolution to cut the cap to $250 from $500 before finally agreeing to such
a move.
?? Heath noted the EOB at a meeting last week decided not to approve the
appointment or reappointment of 13 members of the ISO board and 12 members
of the California Power Exchange's governing board.
?? "We are trying to place people who are a bit more mindful of the
implications of board decisions on Californian consumers," Heath said.
?? Existing board members will remain in office until replacements can be
appointed.
?? Heath said that some individuals who were rejected may eventually be
approved and the EOB was rather making a statement about the performance of
the two boards.
?? "The board was making a very clear statement that we are not satisfied
with the the efforts of the ISO or PX governing boards to proect Californian
consumers," Heath said.
?? Wholesale power prices in California soared to record levels during a
heatwave in June and many customers in San Diego faced a tripling in their
electricity bills.
? Supporters of cutting the cap believe the power market is not "workably
competitive" and prices rose to excessive levels during the heatwave,
putting an unfair burden on both ratepayers and shareholders of investor
owned utilities.
?? Opponents have been led by independent power producers who have argued a
lower cap could make it more difficult for the state to import power at
times of shortage.
?? Emergency legislation signed into law by Calif. Gov. Gray Davis on
Wednesday imposed a price cap on how much San Diego residents should pay
which was less than a third of the current "free market" rate.
? Customers of San Diego Gas and Electric, a unit of Sempra Energy <SRE.N>,
had been exposed to market based prices under the terms of California's
power deregulation.
?? Rates for customers of California's other two investor owned utilities,
Edison International's <EIX.N> Southern California Edison and PG&E Corp.'s
<PCG.N> Pacific Gas and Electric, are frozen.
?? A spokesman for the California ISO was not immediately available for
comment.
?? ((--Los Angeles bureau + 1 213 955 6752)) |
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, November 16, 2001 10:46 AM
To: [email protected]; jlcain%[email protected]; [email protected];
[email protected]; Hendon, Brian; [email protected];
[email protected]; [email protected]
Subject: The History of Aggie Civilization - THIS IS GOOD!!
THE HISTORY OF AGGIE CIVILIZATION
The history of the aggie people is as confusing and complex as any culture
that exists on earth. Yet, unlike many peoples that have adapted and
evolved in response to external and internal influences over the centuries,
the aggies have largely remained true to their roots. And they're proud of
it. As a result of passing on their beliefs and practices over the years,
their behavior over time has been remarkably consistent. It is this
consistency that makes them an exciting and fascinating group to study.
Who are the aggies? The relationship between the aggies and morons, idiots,
and okies are often misunderstood. Contrary to widespread belief, the
aggies are considered, and consider themselves, a separate people from the
morons, idiots, and okies. Historically, the true stupidity of aggies has
largely dominated over, and outnumbered all three other groups combined.
The misconception that the four groups are related probably stems from the
fact that morons and idiots have imitated many rituals and behaviors
practiced by the aggies. However, aggies are a distinct group. [Although
recent evidence (Solomon, Shyster, et. al?1995) suggests that at one time,
probably early in the century, aggies and okies lived together and
interbred in parts of Southern Oklahoma and Texas, hence, Arkansas was
populated by their offspring.
What largely separates aggies from the others groups is their social
interaction. Unlike okies, idiots, and morons, aggies are highly social
creatures that tend to validate each other's views and beliefs. This can
lead to what scholars call a "groupthink delusion." It is believed that
these delusions are the glue that have bound aggies everywhere together
over the years.
The history of the aggie school of thought actually begins in ancient
Greece, with the early philospher Slocumedes, who was the first to
recognize that the absence of everything is equivalent to nothing. He had a
large number of stupid followers and much of his works is still passed on
from parent to child today. Stupicles, from Pheces, taught that all things
could be crushed by a large enough piece of wood. His students, known as
woodpeckers, practiced pet embalming, hand gestures, organized grunting and
mastered many techniques in consuming solid food through their nasal
cavities. Stupicles was also a prolific writer. Unfortunately, his twelve
volumes of philosophical works, which he wrote entirely in the sand on an
Egyptian beach, was lost during a high Mediterranean tide.
With the rise of the Roman Empire, many aggies sought the stability and
steady work afforded by slavery. The aggies however, made poor slaves, and
many were forced into Christianity for "entertainment of monks" and so that
they could be fed to the lions. Others were driven out of the Roman Empire
into Northern Europe where they settled many colonies. The void left by the
fall of the Roman Empire provided the aggies an opportunity to flourish
unhindered in Europe, hence Poland and France were populated.
The aggies didn't fare so well during the industrial revolution since the
philosophical and scientific frameworks of Descartes and Newton didn't give
much leeway to superstition and planned ignorance. More and more aggies
found themselves falling into the ranks of the working masses. Aggies
caused many early industrial accidents as they tried to fit into this
rapidly changing society, and evidence of their engineering prowess
remains, such as the Leaning Tower of Pisa. Their ways and practices were
not appreciated in the new European culture; however, and increasingly many
aggies sought refuge across the ocean in America. That is those who didn't
wind up sinking their ships in the North Atlantic.
Part of the problem in identifying an aggie is that they look and act much
like anyone else until they do or say something decidedly stupid. Most
aggies don't think of themselves as morons, but rather as intelligent
individuals. This makes it very difficult to reason with an aggie. Stupid
acts can take many forms and vary in degree, but when an aggie commits one
it is unmistakable. The majority of the times a aggie turns out to be
nothing more than an inconvenience and source of humor to the innocent
bystander. These incidents are played out on city streets, supermarkets and
country Dairy Queens daily. However, there are times when these acts can
get out of hand and be devastating. It is always wise to be on alert and
prepared, and stay away from large stacks of logs, maroon-clad men wielding
binoculars, or people with shaved heads with swords.
At times you may find yourself in close proximity to an aggie in the midst
of a stupid spell. It is good advice not to approach them during an
incident unless accompanied by a trained professional. If you find that you
have no choice, then speak slowly and use small, soothing words. Never try
to outwit an aggie since they will only interpret that as a hostile and
aggressive act. Always let the aggie think they are superior. And under no
circumstances let your face or hands, pets or livestock near aggies mouth.
Keep in mind at all times, that although an aggie may seem intelligent and
civilized, they are not. It is an adaptive disguise developed over the
centuries.
Beware, be safe, and be orange!
Hook'em! |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/18/2000
09:01 AM ---------------------------
Julia Shaw <[email protected]> on 09/29/99 03:49:07 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Real Options Conference Monday 21st & Tuesday 22nd February2000
Dear Mr Kamins
I am delighted that you would like to speak at the forthcoming "Real Options"
conference. Would your company be covering travel and hotel expenses? If
not I would need to get internal sign off to cover any expenses you would
have. Please can you tell me either way so that I can make the requisite
inquiries if required.
The speakers at the conference have provided me with between 5-8 bullet
points for their talks. Could you email me a few ideas with regard to the
content of the talk and I will email back my ideas. I have attached one of
the talks at the conference to give you an idea of the style of the talks
which have already been included.
I look forward to speaking with you later this afternoon.
Kind regards
Julia Shaw
Conference Producer
Tel:44 171 915 5650
Fax:44 171 915 5001
Email:[email protected]
>>> "Vince J Kaminski" <[email protected]> 09/27/99 07:05pm >>>
Dear Ms. Shaw,
I have just returned from London. One of the points on my
agenda was an internal seminar on the topic of real options
my group offered to the Enron unit in London. Real options is
a valuation technology I have been promoting internally
for quite a long time.
I shall be glad to speak at your conference. Proposed topic:
"Real Options and Valuation of Fixed Assets in the Energy Industry".
Please, let me know if this of interest to you.
Vince Kaminski
Julia Shaw <[email protected]> on 09/24/99 06:13:07 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Real Options Conference Monday 21st & Tuesday 22nd February 2000
Dear Mr Kaminski,
I was given your name by Ann Wagoner and I believe that you area speaking at
her
conference on Real Options. I work in the London office of IIR and am putting
on a similar conference. Your company has been mentioned by a wide variety of
people who I have spoken with about real options. A number of people have
mentioned that your company is regarded very much as a market leader.
I would like to discover if a representative from ENRON might be interested in
speaking at the conference. I have attached the draft programme with agreed
speakers to date. The conference is by no means set in stone and if a speaker
from ENRON decided to become involved I would ensure that you were given a
good
speaking slot in the conference and would have editorial control over the
talk.
I very much hope that ENRON will become involved with the conference and I
look
forward to speaking with you today or next week about the prospect.
Kind regards
Julia Shaw
Conference Producer
Tel 44 171 915 5650
Fax 44 171 915 5001
Email:[email protected]
!
!
!
!
!
!
- Smith.doc |
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----- 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.
*************************************************************
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If you have received this email in error please notify :
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HOUSTON ) Enron Broadband Services (EBS), a wholly owned subsidiary of Enron
Corp. and a leader in the delivery of high-bandwidth application services,
announced today content delivery contracts with Road-Show.Com, an online
resource for individual investors, and Q4i.com, a financial services provider
offering an online broker resource called BrokerIQ. The two financial
services companies will use Enron,s ePoweredv Market Cast and the Enron
Intelligent Networkv (EIN) to enhance the quality and speed of content
delivery to their investors. Enron,s solution provides TV-quality streaming
video with delivery speeds up to 50 times faster than the public Internet.
&These agreements reflect the financial services industry,s need for better
and faster delivery of online content,8 said Joe Hirko, co-CEO of Enron
Broadband Services. &The Enron Intelligent Network allows visionary
companies like Road-Show.Com and Q4i.com to serve their customers with video
to the desktop that has unparalleled speed, clarity and quality.8
Road-Show.Com is a fully integrated producer of online streaming media. The
company,s Xvenuev platform offers clients a turn-key solution for
personalized live or on-demand webcast communications. Road-Show.Com broadly
streams the presentations that companies typically give on road shows prior
to an initial public offering to audiences that include individual and
professional investors.
&The Enron Intelligent Network and Market Cast technology will allow
Road-Show.Com to offer our customers something they have never had access to
before ) real-time company presentations and one of the fastest, richest
viewing experiences possible. This will enhance their ability to make fully
educated investment decisions,8 said Trey Fecteau, president of
Road-Show.Com.
Q4i.com provides &one-stop8 advanced technology solutions for financial
services companies and their clients. With its flagship product, BrokerIQv,
professional brokers and their firms have a complete broker management system
at their fingertips. Q4i.com will utilize EBS to distribute financial video
clips to clients via its BrokerCityv product. In addition, Enron will
deliver Q4i.com,s live and on-demand streaming video clips of golf resorts,
golf courses, golf real estate, equipment and golf travel for Internet users
around the world through GolfTVv, Q4i.com,s online video network.
&Our clients now have streaming video features available on their desktops
via Enron,s network,8 said J. Frederic Storaska, chairman and co-CEO of
Q4i.com. &They not only will enjoy on-demand streaming video of financial
and golf information, but they,ll have the opportunity to take advantage of
special vacation and equipment offers reserved exclusively for our
broker-dealers.8
Enron,s ePowered Market Cast Solution
ePowered Market Cast, an application of the Enron Intelligent Network, is an
end-to-end streaming media solution for banks, brokerages and other financial
services firms. Using ePowered Market Cast, companies can enhance investor
relations, conduct virtual road shows and stream analyst presentations from
their websites. In addition, ePowered Market Cast is a powerful intranet
solution for providing real-time financial news, data feeds, training and
presentations to an internal audience. The application streams video at an
average bit-rate speed of 200 kilobits per second (kbps).
The Enron Intelligent Network is based on distributed server architecture, a
pure Internet Protocol (IP) platform and embedded software intelligence that
sets it apart from other networks. The EIN,s enhanced performance is due to
its ability to deliver streaming media content &one hop8 away from the user
at the closest EIN edge server. The result is a TV-quality viewing
experience for the user. In contrast, the public Internet,s ability to
deliver the broadband content businesses need is often hampered by packet
loss, interference and other disruptions that slow down transmission speed
and compromise the end user,s experience.
About Enron Broadband Services
Enron Broadband Services, formerly Enron Communications, Inc., is a leading
provider of high quality, broadband Internet content and applications. The
company,s business model combines the power of the Enron Intelligent Network,
Enron,s Broadband Operating System, bandwidth trading and intermediation
services, and high-bandwidth applications, to fundamentally improve the
experience and functionality of the Internet. Enron introduces its Broadband
Operating System to allow application developers to dynamically provision
bandwidth on demand for the end-to-end quality of service necessary to
deliver broadband content. Enron is also creating a market for bandwidth
that will allow network providers to scale to meet the demands that
increasingly complex applications require. A wholly owned subsidiary of
Enron Corp. (NYSE: ENE), Enron Broadband Services can be found on the Web at
www.enron.net.
About Enron
Enron is one of the world,s leading electricity, natural gas and
communications companies. The company, which owns approximately $34 billion
in energy and communications assets, produces electricity and natural gas,
develops, constructs and operates energy facilities worldwide, delivers
physical commodities and financial and risk management services to customers
around the world, and is developing an intelligent network platform to
facilitate online business. Enron,s Internet address is www.enron.com. The
stock is traded under the ticker symbol, &ENE.8 |
Many thanks,
Clare
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, December 05, 2000 2:37 PM
To: [email protected]
Cc: [email protected]
Subject: RE: ISDA Master Agreement: Deutsche
We do have a Credit Support Annex in place. Once we sign the ENA
agreement, we will make your requests to DB.
Clare.Godson@Alle
nOvery.com To: [email protected],
[email protected]
cc:
[email protected]
12/05/2000 06:08 Subject: RE: ISDA Master
Agreement: Deutsche
AM
Tana,
Thanks for keeping us updated on the Deutsche negotiations. If, as you
suggest, Deutsche can prepare a Master for the EnronCredit.com Limited
Master as the docs are on their system then this would be useful, and I
will
review and comment on those. The one thing they will need to ensure as you
mentioned is that the Master Agreement is governed by English law. In
addition, I am not sure if you have put a CSA in place with Deutsche, but
if you have (presumably a Paragraph 13 under the NY law CSA?) we would need
the corresponding Paragraph 11 to the English Law CSA.
Many thanks again and we look forward to progressing this matter.
Kind regards,
Clare
> -----Original Message-----
> From: Clarry, James:ICM (LN)
> Sent: Friday, December 01, 2000 10:30 AM
> To: Godson, Clare:ICM (LN)
> Subject: FW: ISDA Master Agreement: Deustche
>
>
>
> -----Original Message-----
> From: [email protected]@ALLEN & OVERY
> Sent: Friday, December 01, 2000 10:25 AM
> To: Clarry, James:ICM (LN)
> Subject: Re: ISDA Master Agreement: Deustche
>
> << OLE Object: Picture (Device Independent Bitmap) >>
> FYI
> ---------------------- Forwarded by Richard Sage/LON/ECT on 01/12/2000
> 10:27 ---------------------------
>
> From: Tana Jones on 30/11/2000 17:00 CST
>
> To: Richard Sage/LON/ECT@ECT
> cc:
>
> Subject: Re: ISDA Master Agreement: Deustche (Document link: Richard
> Sage)
>
> FYI,
>
> Bill Bradford in Credit had a conference call today with the Deutsche
Bank
> Credit person and I think we have come to agreement on not adding any
> specified entities to the ISDA Master Agreement. He also discussed
> proposed credit limits for the three other Deutsche Bank masters we want
> to
> get in place (including EnronCredit.com). I think we are done now and
> hope
> to get execution documents from them, since the documents are on their
> system. Our intention is to then get Deutsche Bank to turn around 3 like
> masters, making any changes necessitated by change of law, and otherwise
> turn around the remaining masters quickly. I'll keep you posted.
>
>
>
> Richard Sage
> To: Tana Jones/HOU/ECT@ECT
> 11/30/2000 cc:
> 10:52 AM Subject: Re: ISDA Master
> Agreement: Deustche
>
>
>
>
>
> If you do add all the entities, does that mean that we would not need to
> put in place a separate agreement for ECCL?
> ---------------------- Forwarded by Richard Sage/LON/ECT on 30/11/2000
> 16:53 ---------------------------
>
> From: Tana Jones on 27/11/2000 15:45 CST
>
> To: Denis O'Connell/LON/ECT@ECT
> cc: Richard Sage/LON/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
>
> Subject: Re: ISDA Master Agreements (Document link: Richard Sage)
>
> With respect to Deutsche Bank (""DB"), we have one credit issue
remaining,
> DB would like us to add all the Enron trading entities DB trades with as
> Specified Entities under the ISDA Master Agreement and we are somewhat
> hesitant to do so, as this could potentially roll up swaps under
> structured
> loan transactions into a default under the ISDA Agreement. Sara and Bill
> Bradford in Credit are supposed to talk to the DB Credit people about
this
> remaining issue.
>
> With respect to First Union National Bank, the draft we were working from
> was so old that they agreed to look at our current form of agreement
which
> was sent to them on 11/8/00 for review. Sara is working on that with
> Susan
> Bailey, another paralegal in our Group.
>
>
>
> Denis
> O'Connell To: Tana Jones/HOU/ECT@ECT
> cc: Richard Sage/LON/ECT@ECT
> 11/22/2000 Subject: ISDA Master
> Agreements
> 06:05 AM
>
>
>
>
>
> Tana - can you please give me an update on where you are in the
> negotiations of the ISDA with the following counterparties and confirm
> which Enron entity you are negotiating on behalf of.
>
> Tks,
>
> Denis
>
>
> First Union National Bank
>
> Deutsched Bank AG
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> << OLE Object: Picture (Device Independent Bitmap) >> - att1.eml <<
> File: att1.eml >>
======================================================================
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One New Change
London
EC4M 9QQ
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====================================================================== |
hey man no problem.i know youre a busy man.its getting ahrder to say how to
play this thing. sprds are massive contango-minimal inverses in the winter.
indeed there shudnt be any problems to supply gas this winter but suply
growth hasnt been stellar and prob wont rise from here now.im not a raging
bull but the past couple of aga and the cashs trength. and the mkt
structure(no sellers in the forward), leads me to beleive there cud be more
upside. mkt is prob a range mkt for a time. but overall i think this is a
weather bet. if we have a winter it will suport the whole curve if its warm
i will be awful-stay in that 2.00-2.50 rnage for spot prices.
i think the prompt is out of the woods-if so long as we have normal
weather nov cash will be ok -wont trade lower than oct cash as long as we
have big incentive to roll storage mar/apr? i bailed. basically washed. in
the long term its prob ok but they arent gonna let me make any serious money
on it in the next few weeks prob longer so why have it on esp when this
winter is such a big discount to next-i guess theres some risk h/j moves
higher if they y on y sprds come in much?? not sure so i bailed. i dont
disagree with you on the calender sprds but i just dont think the entry pt
is attractive. about the only thing im running is nov long agaisnt dec and
jan shorts. pretty netrual no big bets on for now-first time in a awhile.
nothing is that obvious to me. if mktstays sort of balanced until end dec i
mite take a shot on the long side late dec early jan. i struggle paying
sucha big premium for the forward curve
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, October 08, 2001 7:58 PM
To: LaFontaine, Steve
Subject: RE: wheres the love?
Sorry,sorry, sorry.
Havent had internet access at home for past 5 weeks. Much easier to write
these at home as when I'm done trading I don't want to look at my computer.
For november, very neutral. Cash is impressive. Agree shutins, switching,
and some weather are making market look more like equilibrium. Think with
cash/futures at 20 cents, x/z looks crazy. As soon as z becomes prompt,
the fear factor/risk premium of it will decrease and the whole winter will
come off. Like your h/j trade. Hard to see it really being worth 9 cents
at settlement. Been buying a lot of y/y cantango as I think next summer
will be a piece but longer term gas story still very real and customers
know it. Wouldnt be surprised to see 2/3 go to 50+. I think x has some
room to go up, but not a lot. Dont want to play the market from the long
side as been burned before trying to get long a market that is still in a
downtrend. Seems like the curve will just keep rolling down with each
expiry. All the winter months might settle 2.25. As such, the best thing
to be short is jan.
-----Original Message-----
From: "Lafontaine, Steve" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22Lafontaine+2C+20Steve+22+20+3Csteve+2Elafontaine+40ban
[email protected]]
Sent: Friday, October 05, 2001 12:32 PM
To: Lafontaine, Steve; [email protected]
Subject: RE: wheres the love?
well the mkts changed a bit since this writing. im more neturalish now i
guess. suprised about the cash strongth. and i guess it doesnt mattr CUZ
YOU
DONT ANSWER YOUR EMAILS ANYWAY.
regards
> -----Original Message-----
> From: LaFontaine, Steve
> Sent: Friday, September 21, 2001 4:40 PM
> To: John Arnold (E-mail)
> Subject: whats up young man?
>
> johnny hope all is well. is ok here. new york a little stranger than
> normal for obvious reasons.. wwe're trying to get back to normal.
pretty
> stressful cupla weeks. business has been pretty good(trading anyway)
in
> natgas and oil. certainly have been some changes in natgas
fundamentals
> but too littl too late im afraid to get bullish . market sucks and the
> newest shock to macr economics im starting to think are mitigating
what
> mite have been some postive bullish changes like gas/oil relationship
and
> gas shut ins. looks shitty i think. im not as short as ive been but
> starting to think this witer is waaay too high priced. just funtction
> timing i guess. i sold a few march aprils again. just doesnt fit the
curve
> and i think 80% probabitly we end march with over 1.3 tcf in the
ground.
> wud keep things ugle for awhile.
> anyway curious your thots as always. also wanted to say hi.have a
good
> weekend
**********************************************************************
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********************************************************************** |
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 |
------------------------------------------------------------------------------
------------------------
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
May 11, 2001 5:00pm through May 14, 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 CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
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 |
To get off the list, please send an e-mail to: [email protected] and
in the subject line, please put "SIGNOFF RRGA-L"
Thank you!
- Sarah
----- Original Message -----
From: "Pyburn, Jack R." <[email protected]>
To: <[email protected]>
Sent: Tuesday, May 15, 2001 5:11 PM
> I'm not sure how I got on this list, but I'd like to be deleted. Thanks!
>
> Jack Pyburn, Jr.
> Mirant Americas Energy Marketing, LP
> 1155 Perimeter Center West
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> -----Original Message-----
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> You have been added to the RRGA-L mailing list (RTO West Congestion Model
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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
May 11, 2001 5:00pm through May 14, 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 CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
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 |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/04/2000
08:27 AM ---------------------------
Angela Barnett
08/04/2000 05:54 AM
To: Regina Blackshear/Corp/Enron@ENRON, Angela Gill/NA/Enron@Enron, Sandra R
McNichols/HOU/ECT@ECT, Leslie Smith/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT,
Pamela Mitchell/HOU/ECT@ECT, Nikki Johnson/NA/Enron@Enron, Warren
Perry/Corp/Enron@Enron, Derick Jones/Corp/Enron@Enron, Diane
Salcido/Corp/Enron@Enron, Jorge Olivares/Corp/Enron@ENRON, Eve
Puckett/Corp/Enron@ENRON, Judy Walters/HOU/ECT@ECT
cc:
Subject: Fwd: Prayer
---------------------- Forwarded by Angela Barnett/HOU/ECT on 08/04/2000
05:52 AM ---------------------------
Mary Westbrook <[email protected]> on 08/04/2000 05:43:32 AM
To: Mabel Abrasley <[email protected]>
cc:
Subject: Fwd: Prayer
Note: forwarded message attached.
__________________________________________________
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From: [email protected]
Message-ID: <[email protected]>
Date: Thu, 3 Aug 2000 21:13:57 EDT
Subject: Prayer
To: [email protected]
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> >
> > Some people, it seems, get offended way too easily.
> > I mean, isn't that
> > what all
> > > this prayer hullabaloo is all about - people
> > getting offended? Those of
> > us in
> > > the majority are always tippy-toeing around,
> > trying to make sure we don't
> > step
> > > on the toes or hurt the feelings of the humorless.
> > And you can bet
> > there's a
> > > lawyer standing on every corner making sure we
> > don't. Take this prayer
> > deal.
> > > It's absolutely ridiculous. Some atheist goes to
> > a high school football
> > game,
> > > hears a kid say a short prayer before the game and
> > gets offended. So he
> > hires a
> > > lawyer and goes to court and asks somebody to pay
> > him a whole bunch of
> > money for
> > > all the damage done to him. You would have
> > thought the kid kicked him in
> > the
> > > crotch. Damaged for life by a 30-second prayer?
> > Am I missing something
> > here?
> > >
> > > I don't believe in Santa Claus, but I'm not going
> > to sue somebody for
> > singing a
> > > Ho-Ho-Ho song in December. I don't agree with
> > Darwin, but I didn't go out
> > and
> > > hire a lawyer when my high school teacher taught
> > his theory of evolution.
> > Life,
> > > liberty or your pursuit of happiness will not be
> > endangered because
> > someone says
> > > a 30-second prayer before a football game. So
> > what's the big deal? It's
> > not
> > > like somebody is up there reading the entire book
> > of Acts. They're just
> > talking
> > > to a God they believe in and asking him to grant
> > safety to the players on
> > the
> > > field and the fans going home from the game.
> > >
> > > "But it's a Christian prayer," some will argue.
> > Yes, and this is the
> > United
> > > States of America, a country founded on Christian
> > principles. And we are
> > in the
> > > Bible Belt. According to our very own phone book,
> > Christian churches
> > outnumber
> > > all others better than 200-to-1. So what would you
> > expect - somebody
> > chanting
> > > Hare Krishna? If I went to a football game in
> > Jerusalem, I would expect
> > to hear
> > > a Jewish prayer. If I went to a soccer game in
> > Baghdad, I would expect to
> > hear
> > > a Muslim prayer. If I went to a ping-pong match
> > in China, I would expect
> > to
> > > hear someone pray to Buddha.
> > >
> > > And I wouldn't be offended. It wouldn't bother me
> > one bit. When in
> > Rome...
> > > "But what about the atheists?" is another
> > argument. What about them?
> > Nobody is
> > > asking them to be baptized. We're not going to
> > pass the collection plate.
> > Just
> > > humor us for 30 seconds. If that's asking too
> > much, bring a Walkman or a
> > pair of
> > > ear plugs. Go to the bathroom. Visit the
> > concession stand. .. Call your
> > > lawyer.
> > >
> > > Unfortunately, one or two will make that call. One
> > or two will tell
> > thousands
> > > what they can and cannot do. I don't think a
> > > short prayer at a football game is going to shake
> > the world's
> > foundations. Nor
> > > do I believe that not praying will result in more
> > serious injuries on the
> > field
> > > or more fatal car crashes after the game. In
> > fact, I'm not so sure God
> > would
> > > even be at all these games if he didn't have to
> > be. That's just one of
> > the
> > > downsides of omnipresence. If God really liked
> > sports, the Russians would
> > never
> > > have won a single gold medal, New York would never
> > play in a World Series
> > and
> > > Deion Sanders' toe would be healed by now.
> > >
> > > Christians are just sick and tired of turning the
> > other cheek while our
> > courts
> > > strip us of all our rights. Our parents and
> > grandparents taught us to
> > pray
> > > before eating, to pray before we go to sleep. Our
> > Bible tells us just to
> > pray
> > > without ceasing. Now a handful of people and
> > their lawyers are telling us
> > to
> > > cease praying. God, help us.
> > >
> > > And if that last sentence offends
> > you-well............just sue me.
> > >
> > >
> > >
> >
> >
> > |
This winter will bring a number of opportunities to get the best training in the field of economic development. In January there are opportunities to learn the field for the first time, opportunities to learn how convention centers and stadiums can assist the development of your community, learn how to practice advanced economic development.
If You Build It, Will They Come? Find Out Jan. 23-26 in Tempe
Is your community planning on building a sports facility or conference center? IEDC's annual If You Build It,Will They Come? conference, scheduled for Jan. 23-26 in Tempe, Ariz., will focus on all aspects of creating these facilities, from feasibility studies to management. This year, attendees will get to hear from communities that used lessons learned at earlier conferences and have recently completed projects. Representatives from the Dayton Dragons (a minor league baseball team in Ohio) and the city of Sanford, Fla., (a community that just completed a conference center) will discuss their projects and share important lessons learned.
Act before December to guarantee a hotel room and early registration discounts! Visit http://www.iedconline.org/tempe/home.html for details.
IEDC Economic Development Leadership Summit
Planned for January in Monterey
The IEDC 2002 Economic Development Leadership Summit will take place January 16??"19 at the Monterey Doubletree Hotel in Monterey, Calif. This event is open to all certified economic development professionals, IEDC board members and past board members and past chairs.
This years Leadership Summit is designed to provide you with the opportunity to hear from your peers and guest presenters and to interact with them in both formal and informal settings. Two special guests will join the summit and lead discussions on topics of high importance.
Rob DeRocker, executive vice President of Development Counsellors International, will lead a session titled, Rethinking Economic Development in a World That Changed. Later, Dr. David A. Sampson, assistant secretary of commerce for economic development, will take part in a roundtable discussion on how the federal government has and is responding to the events of the past few months.
Please mark January 16 to19 on your calendar and join us in Monterey. For more information, please contact Jeff Stone at 202/942-9471 or [email protected] or go to http://www.iedconline.org/monterey/home.html for more information.
IEDC Course Calendar of Events
Unless otherwise indicated, please call 202/223-7800 for information about conferences and training courses, or follow the available links to the IEDC Web site.
This course is for the person starting in the economic development profession. This gets good reviews by those entry-level practitioners who attend this event.Introduction to Economic Development
Training Course
January 27-30, 2002
Tempe, AZ
The Congress is on the verge of proposing a new round of military base closures. What will that mean to your community? If you have an active duty facility that is not in danger, what are the opportunities for your community. This conference is a must-do for communities and their military counterparts.NAID Winter Conference: Challenges Ahead
January 27-29, 2002
Tempe, AZ
The primary business of economic development is keeping what you have. Learn first hand on how to keep your existing businesses in your community. This is a must do course for community leaders of all kinds.Business Retention & Expansion
Training Course
March 5-6, 2002
Arlington, VA
Upcoming Legislative Summit
This is the definitive program for economic developers who need to know where the money is and how to find it in Washington. Last year the administration was new and the development of program objectives and new approaches had not yet begun. Last year we were not facing a significant slow down in the economy. Last year we did not have physical attacks by terrorists on two of our largest cities and the resulting economic conditions. What are the Congressional and Administration plans to rebuild our economy. There has been a melt-down in the dot.com world. What are the new sectors that will bring real promise for the future. This conference could yield real benefits to your community. 2002 Economic Development Summit
March 6-8, 2002
Arlington, VA
The International Economic Development Council (IEDC) http://www.iedconline.org/ is the recent merger of The Council For Urban Economic Development (CUED) http://www.cued.org , founded in 1967, and the American Economic Development Council, http://www.aedc.org/ the oldest economic development membership association in the United States. Together this new organization has over 4000 economic development professionals as members. IEDC provides information to its members who build local economies through tools used to create, attract, and retain jobs. IEDC also manages the National Association of Installation Developers (NAID) http://www.naid.org . NAID brings together public and private sector professionals involved with the redevelopment of closing military bases and serves the needs of communities with active-duty military bases in those areas of public private partnerships and privatization of military infrastructure.
IEDC is also a supporter and sponsor of the Bollinger Foundation. The Bollinger Foundation is a unique foundation dedicated to assisting families who have lost one or more of their parents and where one of the worked in the field of community development, public housing or economic development http://www.cued.org/bollinger/ . |
----- Forwarded by David M Gagliardi/TTG/HouInd on 10/18/01 08:59 AM -----
"Gagliardi,
Michael" To: "'[email protected]'" <[email protected]>
<mgagliardi@un cc:
ocal.com> Subject: FW: True Orange E-Mail/Fax #102
10/18/01 08:54
AM
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Wednesday, October 17, 2001 10:10 PM
> To: [email protected]
> Subject: True Orange E-Mail/Fax #102
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #102, Wednesday, October 17, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Tyler DB Melton is 16th Cimmitment; DE Thornton Will Start Saturday
>
> Tyler DB Matt Melton, 5-11, 190, 4.43, told me tonight he committed to
> Texas
> earlier in the day "because I knew I wanted to stay in state and, after
> visiting A&M and Texas (unofficially), I just like Texas better."
> Melton, who has 40 tackles and two interceptions so far this year, said
he
>
> had offers "from about 15 or 16 schools, including Texas, A&M, Purdue,
> TCU,
> Baylor and West Virginia."
> Melton is the 16th recruit to commit to Texas. He is a member of my
> Fabulous
> 50.
> The other recruits who have committed to Texas include nine recruits who
> are
> listed on one or more national top 100 teams. They are WR Marquis
> Johnson,
> 6-3, 200, 4.48, of Centennial High School in Champaign, Illinois; DE
> Chase
> Pittman, 6-5, 263, 4.7, of Shreveport Evangel; LB Garnett Smith, 6-3,
221,
>
> 4.54, of Arlington Lamar, DTs Sonny Davis, 6-1, 320, 5.0, of Gulf Coast
JC
> in
> Mississippi and formerly of Austin Lanier, Earl Anderson, 6-4, 270, 4.8,
> of
> San Marcos, Lyle Sendlein, 6-4, 260, 4.8, of Scottsdale Chaparral, the
> two-time defending Class 4A champion in Arizona; OLs Brett Valdez, 6-4,
> 310, 5.1, of Brownwood and Neale Tweedie, 6-5, 260, 4.9, of Allen; and
> TE
> David Thomas, 6-3, 210, 4.6, of Wolfforth Frenship; Davis made all of
the
>
> top national lists last year.
> The other Longhorn pledges are DT Tully Janszen, 6-4, 255, 4.78, of
> Keller;
> LBs Brian Robison, 6-3, 245, 4.6, of Splendora and Marcus Myers, 6-3,
220,
>
> 4.5, of Pflugerville Connally; WR Dustin Miksch, 6-0, 165, 4.4, of
Round
>
> Rock Westwood; QB Billy Don Malone, 6-2 1/2, 185, 4.7, of Paris North
> Lamar, and RB/Ath Clint Haney, 5-11, 190, 4.27 of Smithson Valley.
> * * * *
> DE Kalen Thornton, who missed the OSU game with a knee sprain, is
> practicing
> again this week and defensive coordinator Carl Reese said he will start
> Saturday, with Maurice Gordon moving back to DT. Reese also said
sophomore
>
> Adam Doiron, who started at tackle against OSU in Gordon's place, played
> well
> against the Cowboys and will see a lot of action against Colorado.
> He also said redshirt freshman Stevie Lee "has had his best two days of
> practice" this week and also will play at DT. Lee is under 300 pounds
now.
> He
> reported at about 310 because he was recovering from a broken bone in his
> foot that required surgery and wasn't able to run and work out as much as
> usual.
> DE O. J. McClintock, who has been out all year after suffering severe
cuts
> to
> his right arm and hand in a household accident before the season, also is
> expected to play Saturday.
> Reese said the Longhorn will need lot of defensive linemen to step up
> Saturday because Colorado "just lines up and tries to run over you play
> after
> play."
> * * * *
> The Longhorns' game at Missouri next Saturday will have a 2:30 p.m.
> kickoff
> and UT officials say it will be available in Texas on pay-per-view TV,
but
>
> they said they are still working out the details. It was passed over for
> regular TV programming, so pay-per-view is the only way fans who can't
> attend
> will be able to see it.
> * * * *
> RECRUITING NOTES: DE Bryan Pickryl, 6-5, 230, 4.5, of Oklahoma powerhouse
> Jenks, plans to come to the Texas-Colorado game this weekend. He said
> Texas,
> Missouri and Oklahoma are his top three teams, but he also said he is
> considering several other schools fairly seriously. His maternal
> grandmother
> lives in Austin and he also has two uncles in the Austin area., so he has
> spent some time in this area. . . DT Earl Anderson of San Marcos says he
> is
> solidly committed to Texas and says he is being misquoted by people who
> say
> he plans to take visits to other schools. . . WR Robert Timmons of Flower
> Mound Marcus was held out of last week's game after missing school and
> reporting he was sick. FM coach Randy Mayes said he isn't sure if Timmons
> will play this week. "It depends on whether he misses any more school or
> practices," he said. Timmons is a great football prospect, and is by far
> the
> best WR in Texas, but he has had some disciplinary problems and it seems
> they
> are continuing. But, as Mayes said, maybe he really was sick.
> * * * *
> My next e-mail/fax will be whenever events warrant.
> * * * *
> The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a
> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail or $99 if you take
> both
> services via E-Mail). Send check to address at the top of page. I also
> update my 900 number - 1-900-288-8839 - daily with recruiting news. My
> E-Mail address is: [email protected]. |
The Ministry of Environment in Ontario released its final emissions trading regulation yesterday. Based on a quick review, several changes were made that Enron asked for in its submission earlier this month.
Specifically:
OPG's allocations will be partitioned through 2007 (not 2010)
Allowances will be allocated on a prospective basis, baned on the previous year's generation (output). Estimations of energy production will be used (subject to a true-up) to accommodate new generators which come on line during a compliance year.
Direction and distance provisions that would discount emissions reductions credits (foreign allowances) have been removed.
The SO2 set aside for renewable energy and energy efficiency is raised to 4 KT (NOx --expressed as NO - remains at 1 KT).
There is no restriction on banking of credits.
ERC credit lifetime extended from five to seven years.
Approval of ERCs by the Ministry of the Environment before registration of the credits (rather than after registration but before use).
Please see the summary of the regulation below compiled by Lisa DeMarco of Donahue Ernst & Young in Toronto. Environmental Strategies will analyze the regulation and be back in touch with more information on its impact for Enron. Do not hesitate to contact me with any questions.
Link to MOE summary of regulation changes and links to regulation:
<http://204.40.253.254/envregistry/016576er.htm>
_______________________________________________________________________________________________________
On October 24, 2001, the Ontario Minister of Environment released the final emissions trading regulation which includes several significant changes to the draft regulation. The release of this regulation and an additional regulation governing emissions from the Lakeview generating station is broadly thought to signify the likely opening of the Ontario electricity market in Spring, 2002 (please see attached article).
A brief overview of the central aspects of the Ontario emissions trading regulation, which sets out a hybrid ("Cap, Credit and Trade") system of emissions trading for Ontario, follows
Applicability:
Starting in 2002, the regulation will apply to Ontario Power Generation's ("OPG") 6 fossil fuel generating stations. In 2004, the requirements will be extended to large (>25MW) Independent Power Producers ("IPPs") in the province. Most notably, the regulation is accompanied by an announcement that caps and the associated hybrid trading scheme will be extended to other major industrial sectors in the near future. Consultation with those sectors regarding the level of their sector caps will commence immediately.
Caps:
NOx (measured as NO):
An overall cap of 36 KT in 2002 will decline to 28 KT in 2010. The cap will be partitioned between OPG and IPPs between 2004 and 2007. Each year renewable and energy conservation projects will be eligible for 1 KT of "set-aside" allowances. Starting in 2007, the allocation of allowances will also be subject to a North/South partition to comply with obligations under the Ozone Annex to the Canada / US A Air Quality Agreement. Trading between these areas is not, however, restricted.
SO2:
An overall cap of 157.5 KT in 2002 will decline to 131 KT in 2007. The cap will not be partitioned between OPG and IPPs and will apply to OPG facilities in 2002 and all large IPPs in 2004. Each year renewable and energy conservation projects will be eligible for 4 KT of "set-aside" allowances.
Allocation:
Prospective allocation of allowances will be on the basis of a facility's pro-rata share of energy production (output) in the province. OPG will receive a corporate based allocation each year until the end of 2007, at which point all allocations will be on a facility basis. The proposed mechanism allows for estimations of energy production to be used (subject to a true-up) to accommodate new generators which come on line during a compliance year. Measurement of emissions must be by CEMs or equivalent technology.
Credit Creation:
Emission reduction credits ("credits") may be created in accordance with MOE "Standard Methods" from baseline project emission rates in the year prior to creation. Specific requirements are set out in the Ontario Emissions Trading Code ("OETC"). Generally credits may be created from any of the following jurisdictions:
Ontario, New York, Pennsylvania, New jersey, Delaware, Maryland, West Virginia, Kentucky, Ohio, Michigan, Indiana, Illinois, Wisconsin, and the District of Columbia (with possible science-based extension of the eligible jurisdictions)
In addition, US allowances which are issued by these jurisdictions may be acceptable for use as Ontario credits if they meet the requirements set out in the OETC.
Early action credits may be eligible for use if they: meet the requirements of the OETC; were submitted for review by the PERT program before July 1, 2001; and were created between July 1, 1998 and January 1, 2000.
Credits will be approved for use by the MOE before they are registered on the Emissions Trading Registry.
Credit and Allowance Use:
Use of credits is limited to 33% of allowances used for NOx and 10% of allowances used for SO2. These limits do not apply if the facility is operating under an IMO must run contract.
All credits will be subject to a 10% environmental discount. The ratio of smog season to non-smog season NOx credits must reflect the same ratio of actual emissions.
There is no restriction on banking of credits. There is no distance and directionality discounting for the eligible jurisdictions.
Trading
There is generally unrestricted trading through the Ontario Emissions Trading Registry. |
EnronOnline
Trade Counts and Volume for May 14, 2001
EXTERNAL INTERNAL TOTAL
COUNTRY COMMODITY CATEGORY COUNT QTY COUNT QTY COUNT QTY UNIT OF MEASURE
Austria Power Physical 13 10,300 - - 13 10,300 MWh
Belgium Natural Gas Physical 10 1,065,000 - - 10 1,065,000 MMBtu
Canada Natural Gas Financial 7 3,655,000 1 155,000 8 3,810,000 MMBtu
Canada Natural Gas Physical 235 14,076,271 - - 235 14,076,271 MMBtu
Canada Power Financial 18 20,642 - - 18 20,642 MWh (Canada)
France Power Physical 1 4,741 - - 1 4,741 MWh
Germany Power Physical 68 239,804 - - 68 239,804 MWh
Netherlands Power Physical 1 600 - - 1 600 MWh
Norway Power Financial 23 441,192 - - 23 441,192 MWh
Singapore Crude Financial 1 50,000 1 50,000 2 100,000 Barrel
Singapore Oil Products Financial 1 150,000 - - 1 150,000 Barrel
Switzerland Power Physical 26 36,593 - - 26 36,593 MWh
United Kingdom Crude Financial 3 350,000 2 50,000 5 400,000 Barrel
United Kingdom LPG Financial 3 10,000 - - 3 10,000 mt
United Kingdom Metals Financial 500 10,830 81 1,625 581 12,455 LME Registered mt Lot
United Kingdom Natural Gas Physical NBP 135 19,881,050 2 95,000 137 19,976,050 MMBtu
United Kingdom Oil Products Financial 1 22,350 - - 1 22,350 Barrel per month
United Kingdom Oil Products Financial 3 15,000 - - 3 15,000 IPE mt
United Kingdom Power Physical 13 846,720 - - 13 846,720 MWh
United Kingdom Sea Freight Financial 1 15 1 15 2 30 Sea Freight Lots
USA Coal Physical 1 4 - - 1 4 COAL-Tons/Barges/Mnth
USA Crude Financial 162 7,225,000 97 3,915,000 259 11,140,000 Barrel
USA Crude Financial Option 2 75,000 1 50,000 3 125,000 Barrel
USA Crude Physical 8 1,143,000 - - 8 1,143,000 Barrel
USA Emissions Physical 2 - 2 - Emission allowance
USA Gas Pipeline Capacity Physical 2 20,000 - - 2 20,000 MMBtu
USA LPG Financial 2 55,000 - - 2 55,000 Gallon
USA LPG Physical 1 5,000 - - 1 5,000 Gallon
USA Lumber Physical 4 14 - - 4 14 Thousand Board Feet
USA Natural Gas Financial 874 337,955,873 389 126,439,578 1,263 464,395,451 MMBtu
USA Natural Gas Financial Option 9 9,010,000 3 3,000,000 12 12,010,000 MMBtu
USA Natural Gas Physical 1,808 16,749,218 41 781,899 1,849 17,531,117 MMBtu
USA Oil Products Financial 38 854,524 3 30,715 41 885,239 Barrel
USA Paper Physical 1 40 - - 1 40 Metric Tons (+/- 5%)
USA Petchems Financial 1 30,000 - - 1 30,000 Gallon
USA Power Financial 27 244,469 10 67,530 37 311,999 MWh
USA Power Physical 427 4,371,728 154 2,483,741 581 6,855,468 MWh
USA Rate and Currency Financial - - 3 5,900,000 3 5,900,000 EUR/1
USA Rate and Currency Financial - - 2 4,000,000 2 4,000,000 FX USD
USA Rate and Currency Financial - - 3 1,090,000 3 1,090,000 GBP/1
USA Rate and Currency Financial - - 3 1,154,000 3 1,154,000 USD/1
USA Weather Financial 6 14 - - 6 14 Cooling Degree Day
4,438 797 5,235 |
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. |
TODAY'S HEADLINES
The New York Times on the Web
Thursday, May 10, 2001
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com
QUOTE OF THE DAY
=========================
"We like living here. It's a beautiful place. The only thing
we don't like, you can't make any money to survive. My son
is getting straight A's. He's not going to be around here."
- FRED PRATT, of Morland, Kan.
Full Story:
http://www.nytimes.com/2001/05/10/national/10TOWN.html
NATIONAL
=========================
Bit by Bit, Tiny Morland, Kan., Fades Away
http://www.nytimes.com/2001/05/10/national/10TOWN.html
U. of Virginia Hit by Scandal Over Cheating
http://www.nytimes.com/2001/05/10/national/10CHEA.html
Smithsonian Is Promised $38 Million, With Strings
http://www.nytimes.com/2001/05/10/national/10SMIT.html
Western Governors Turn Focus to Need for More Power Lines
http://www.nytimes.com/2001/05/10/national/10GRID.html
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\---------------------------------------------------------/
POLITICS
=========================
In Show of Unity, House Republicans Pass Budget Bill
http://www.nytimes.com/2001/05/10/politics/10HOUS.html
Price of Gasoline May Pose Problem for White House
http://www.nytimes.com/2001/05/10/politics/10POLI.html
White House Asks Unions to Meet on Energy Policy
http://www.nytimes.com/2001/05/10/politics/10ENER.html
Bush Appeals for Peace on His Picks for the Bench
http://www.nytimes.com/2001/05/10/politics/10JUDG.html
INTERNATIONAL
=========================
Families of Chechnya's Disappeared Seek Answers
http://www.nytimes.com/2001/05/10/world/10CHEC.html
Mexico's Leader Is Finding the Democratic Road Bumpy
http://www.nytimes.com/2001/05/10/world/10FOX.html
Death Toll Thought to Top 100 in a Soccer Stampede in Ghana
http://www.nytimes.com/2001/05/10/world/10GHAN.html
2 Jewish Teenagers Are Beaten to Death in the West Bank
http://www.nytimes.com/2001/05/10/world/10ISRA.html
BUSINESS
=========================
Suits Accuse Drug Makers of Keeping Generics Off Market
http://www.nytimes.com/2001/05/10/business/10DRUG.html
Public Ventures Do Private Deals but Sometimes Are Left
Bloodied
http://www.nytimes.com/2001/05/10/business/10PIPE.html
Firm Auditing MicroStrategy Settles Lawsuit
http://www.nytimes.com/2001/05/10/business/10AUDI.html
Black Sales Agents File Discrimination Suit Against Xerox
http://www.nytimes.com/2001/05/10/business/10BIAS.html
TECHNOLOGY
=========================
Looking Back at My First PC
http://www.nytimes.com/2001/05/10/technology/10BLUE.html
Hackers Report a Truce
http://www.nytimes.com/2001/05/10/technology/10HACK.html
Nintendo Grows Up and Goes for the Gross-Out
http://www.nytimes.com/2001/05/10/technology/10CONK.html
How It Works: Fuel Cells Provide Clean, Reliable (and
Pricey) Electricity
http://www.nytimes.com/2001/05/10/technology/10HOWW.html
NEW YORK REGION
=========================
Yellow Cabs Battle Invasion of Their Turf
http://www.nytimes.com/2001/05/10/nyregion/10CABS.html
Friends Mourn Slain Bronx Girl as Police Investigate
http://www.nytimes.com/2001/05/10/nyregion/10GIRL.html
Board Allows Rent Increases of 3% and 5%
http://www.nytimes.com/2001/05/10/nyregion/10RENT.html
Ferrer Refuses Endorsement Linked to Race
http://www.nytimes.com/2001/05/10/nyregion/10MAYO.html
SPORTS
=========================
Devils Beat Toronto to Advance
http://www.nytimes.com/2001/05/10/sports/10DEVI.html
Niedermayer Shouldn't Have Played in Devils Game, and He
Didn't
http://www.nytimes.com/2001/05/10/sports/10ANDE.html
A Masterful Clemens Nibbles at a No-Hitter
http://www.nytimes.com/2001/05/10/sports/10YANK.html
This Time, It's Iverson's Turn to Light the Fire
http://www.nytimes.com/2001/05/10/sports/10SIXE.html
ARTS
=========================
Christopher Wheeldon, City Ballet's Meteor, Lights Up the
Mirror
http://www.nytimes.com/2001/05/10/arts/10WHEE.html
Ken Kesey, Checking In on His Famous Nest
http://www.nytimes.com/2001/05/10/arts/10KESE.html
A Supermodel of a Hotel Sashays to Astor Place
http://www.nytimes.com/2001/05/10/arts/10NOTE.html
'Wingspan': Home Movies Starring the Cute Beatle
http://www.nytimes.com/2001/05/10/arts/10GATE.html
OP-ED COLUMNISTS
=========================
By BOB HERBERT: Mr. Ferrer's Dilemma
Bronx borough president Fernando Ferrer's courting of the
Rev. Al Sharpton's support has provided a bumpy start to a
New York City mayoral campaign.
http://www.nytimes.com/2001/05/10/opinion/10HERB.html
By WILLIAM SAFIRE: Battle of the Blue Slips
Senate Democrats prepare for war over President Bush's
judicial nominations.
http://www.nytimes.com/2001/05/10/opinion/10SAFI.html
HOW TO CHANGE YOUR SUBSCRIPTION
------------------------------------------------------------
You received these headlines because you requested The New
York Times Direct e-mail service. To cancel delivery, change
delivery options, change your e-mail address or sign up for
other newsletters, see http://www.nytimes.com/email
HOW TO ADVERTISE
------------------------------------------------------------
For information on advertising in e-mail newsletters or
other creative advertising opportunities with The New York
Times on the Web, please contact Alyson Racer at
[email protected] or visit our online media kit at
http://www.nytimes.com/adinfo |
fyi
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 07/06/99
03:24 PM ---------------------------
Enron Capital & Trade Resources Corp.
From: Office Chairman @ ENRON 07/01/99 12:33 PM
To: Enron Worldwide
cc:
Subject: Organizational Changes
Interoffice
Memorandum
Enron's performance has been exceptional. This performance is reflected in
our stock price, in the recognition we receive in the media and financial
communities, and, most importantly, in the enthusiasm of our people. It has
been clear to us for some time that we are driving fundamental change in the
marketplace and that our natural gas, electricity and communications networks
can be positioned for even greater growth. A &new economy8 is emerging, an
economy based on intellectual capital and the compelling economics of
networks. Capturing the opportunities in this new economy calls for
increased coordination and integration across our wholesale (ECT, ECM, EI),
retail (EES), and communications (ECI) businesses. It is our intention to
combine the operations of these businesses into a cohesive organization that
will ensure we realize the growth we foresee in all our businesses.
To this end, we are initiating a number of organization and staffing changes
in these businesses and related changes in the Enron Office of the Chairman,
in Corporate Staff groups, and in a number of management/personnel
committees. Other business units, EOG, GPG, PGE, and Azurix, will not be
directly affected. Accordingly, the following changes are effective
immediately.
Enron Office of the Chairman
Joe Sutton will join the Office of the Chairman as Vice Chairman. In his new
role, Joe will work with the two of us to manage the operations of the
company.
Rebecca Mark, previously Vice Chairman of the company, will now fully
concentrate on her responsibilities as Chairman and CEO of Azurix, our most
recent public company. Rebecca has also been elected to the Enron Board of
Directors, effective today.
Ken Harrison, previously Vice Chairman of the company, will fully concentrate
on his responsibilities as Chairman and CEO of Portland General Electric and
Non-Executive Chairman of Enron Communications. Ken will continue to serve
on Enron's Board of Directors.
Redefined Business Units
ECT, ECM, EI, EES, and ECI will be regrouped into eight regions/businesses
and five global functions. Each region/business will be operated as an
independent entity but will coordinate staffing, career paths, compensation
and performance review across all units. Each global function will provide
its specialized expertise across all regions/businesses. Included in these
functions is a new technology function, which will focus on information
systems and growth of our e-commerce capabilities where we believe there is
enormous potential. These organizational units and their leadership are as
follows:
Regions/Businesses
North America: Cliff Baxter, CEO; Kevin Hannon, COO
Europe: Mark Frevert, CEO; John Sherriff, President; Dan McCarty, COO
South America: Jim Bannantine, Co-CEO; Diomedes Christodoulou, Co-CEO
India: Sanjay Bhatnagar, CEO
Caribbean, Middle East: David Haug, CEO
Asia, Africa: Rebecca McDonald, CEO
EES: Lou Pai, CEO; Tom White, Vice Chairman
ECI: Joe Hirko, Co-CEO; Ken Rice, Co-CEO (Ken Harrison ) non-executive
Chairman)
Global Functions
Risk Management: Greg Whalley, CEO
Finance: Andy Fastow, CFO; Jeff McMahon, Treasurer
Asset Operations: Kurt Huneke, CEO
EE&CC: Larry Izzo, CEO
Technology: Mike McConnell, CEO
Corporate Staff
All corporate and EI staff units will be regrouped into six corporate staff
groups. These staff groups will support all operations of Enron. These
organizational units and their leadership are as follows:
Legal: Jim Derrick, EVP and General Counsel; Rob Walls, SVP and Deputy
General Counsel
Risk Assessment and Control: Rick Buy, EVP
Accounting and HR: Rick Causey, EVP and Chief Accounting Officer
Investor Relations: Mark Koenig, EVP
Other Staff Groups: Steve Kean, EVP and Chief of Staff
Corporate Development: To be determined.
Committees
A new Executive Committee will be formed to replace the existing Management
and Operating Committees. Membership will be as follows:
Ken Lay, Chairman
Jeff Skilling, Alternate Chairman
Joe Sutton
Stan Horton
Jim Bannantine Kurt Huneke
Cliff Baxter Larry Izzo
Sanjay Bhatnagar Steve Kean
Rick Buy Mark Koenig
Rick Causey Rebecca Mark (Ad hoc)
Diomedes Christodoulou Mike McConnell
Jim Derrick Rebecca McDonald
Andy Fastow Jeff McMahon
Peggy Fowler Lou Pai
Mark Frevert Mark Papa (Ad hoc)
Kevin Hannon Ken Rice
Ken Harrison John Sherriff
David Haug Greg Whalley
Joe Hirko Tom White
Four other committees, which will be essential to the success of this new
organization, will be formed. These committees are:
Managing Director and SVP Personnel Committee: Jeff Skilling, Chairman
Vice President Personnel Committee: Kevin Hannon, Chairman
Vision and Values Committee: Joe Sutton, Chairman
Workforce Diversity: Ken Lay, Chairman
Details of membership on these committees will follow shortly.
Summary
Over the next several weeks all of the specifics of this reorganization will
be further ironed out and communicated. In the meantime, please bear with us
- we are confident that these changes will have a significant, positive
impact on the operation and growth of the company. |
------------------------------------------------------------------------------
------------------------
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
July 6, 2001 5:00pm through July 9, 2001 12:00am
------------------------------------------------------------------------------
------------------------
ECS to ECN Network Interconnection July 14, 2001
This is a notification that the Enron Corp. I/T Networks team will be
connecting the new building network infrastructure located in Enron Center
South (ECS) to the existing Enron Center North (ECN) backbone network. While
this activity is not expected to produce a disruption to network services,
this notice is designed to alert the organization to our activities. No
network hardware or systems are anticipated to be shutdown. The actual
physical interconnection of the networks will be performed in the EB 34th
floor Data Center.
Interconnection activities are scheduled to occur the evening of July 14,
2001 starting from 7:00 p.m.(CT) and completing around 11:00 p.m. (CT).
Application testing activities will begin at 11:00 p.m. (CT) once all network
testing has completed.
If you have any further questions, please contact Pete Castrejana at
713-410-0642 for more information.
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 CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: CORP
Time: Fri 7/6/2001 at 7:00:00 PM CT thru Fri 7/6/2001 at 9:00:00 PM CT
Fri 7/6/2001 at 5:00:00 PM PT thru Fri 7/6/2001 at 7:00:00 PM PT
Sat 7/7/2001 at 1:00:00 AM London thru Sat 7/7/2001 at 3:00:00 AM London
Outage: Put NACAL-CLUSTER1 into production
Environments Impacted: Corp Calgary
Purpose: Current server (ECTCAL-FS1) running out of disk space
Backout: Turn on ECTCAL-FS01
Contact(s): Greg Hibbert
Impact: CORP
Time: Fri 7/6/2001 at 5:00:00 PM CT thru Fri 7/6/2001 at 9:00:00 PM CT
Fri 7/6/2001 at 3:00:00 PM PT thru Fri 7/6/2001 at 7:00:00 PM PT
Fri 7/6/2001 at 11:00:00 PM London thru Sat 7/7/2001 at 3:00:00 AM London
Outage: Calgary Network Upgrade
Environments Impacted: Corp Calgary
Purpose: Processors in existing Cisico 3810 routers are maxed out causing
sessions to freeze on Terminal Server and updates from CQG.
Backout: Put old Cisco 3810 back into production.
Contact(s): Brad K Martin (403) 974-6922 (403)212-9280
Todd Bowen (403) 974-6951
Greg Hibbert (403) 974-6785
FIELD SERVICES: No Scheduled Outages.
INTERNET:
Impact: CORP
Time: Fri 7/6/2001 at 5:15:00 PM CT thru Fri 7/6/2001 at 5:45:00 PM CT
Fri 7/6/2001 at 3:15:00 PM PT thru Fri 7/6/2001 at 3:45:00 PM PT
Fri 7/6/2001 at 11:15:00 PM London thru Fri 7/6/2001 at 11:45:00 PM London
Outage: Install Bypass Firewalls for EOL
Environments Impacted: Corp
Purpose: Firewalls needed to ease the load on the Local Directors
Backout: Remove Bypass Firewalls
Contact(s): James Hill 713-345-2551
Impact: CORP
Time: Fri 7/6/2001 at 6:00:00 PM CT thru Fri 7/6/2001 at 11:00:00 PM CT
Fri 7/6/2001 at 4:00:00 PM PT thru Fri 7/6/2001 at 9:00:00 PM PT
Sat 7/7/2001 at 12:00:00 AM London thru Sat 7/7/2001 at 5:00:00 AM London
Outage: EOL Terminal Server Relocation Phase II
Environments Impacted: EOL
Purpose: Servers are blowing hot air and causing thermal problems on other
units. Server need to be relocated to a environment with redundant network
capabilities. Space is needed for UNIX/Network equipment.
Backout: Leave servers online where they are at
Contact(s): Todd Thelen 713-853-9320
Andrew Hawthorn 713-853-6069 877-345-0586
Guy Schlein 713-853-6865
Kevin Hopper 713-853-7989
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: CORP
Time: Sat 7/7/2001 at 2:00:00 AM CT thru Sun 7/8/2001 at 6:00:00 PM CT
Sat 7/7/2001 at 12:00:00 AM PT thru Sun 7/8/2001 at 4:00:00 PM PT
Sat 7/7/2001 at 8:00:00 AM London thru Mon 7/9/2001 at 12:00:00 AM London
Outage: Upgrade RMSPROD
Environments Impacted: ENA
Purpose: Take advantage of new features for better performance and to
accommodate larger data volume and usage.
Backout: The only way to back out is a complete refresh from backup. This
process will take 6.5 - 7.5 Hours to complete if required
Contact(s): Emmett Cleveland 713-853-3873
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
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
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
TDS -Trader Decision Support On-Call (713) 327-6032 [Pager] |
----- Forwarded by David M Gagliardi/TTG/HouInd on 06/12/01 09:37 AM -----
"Michael
Gagliardi" To: <[email protected]>, <[email protected]>,
<mikegag@msn. <[email protected]>
com> cc:
Subject: Fw: True Orange E-Mail/Fax #59
06/12/01
09:19 AM
----- Original Message -----
From: [email protected]
Sent: Monday, June 11, 2001 10:36 PM
To: [email protected]
Subject: True Orange E-Mail/Fax #59
True Orange E-Mail/Fax Service
Volume 9, E-Mail/Fax #59, Monday, June 11, 2001
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536
Horns Land Strong-Armed QB, Swift Athlete as 5th, 6th Commitments
Texas is up to six commitments already after getting pledges Monday from
QB
Billy Don Malone, 6-2 1/2, 185, 4.7, of Paris North Lamar, and RB/Athlete
Clint Haney, 5-11, 190, 4.27 (that 4.27 was clocked at the A&M Nike camp).
Both athletes play in Class 4A.
Malone and Haney both attended the UT mini-camp Sunday, then got offers
Monday from the Longhorns due to the ridiculous new NCAA rule
interpretation
(same old rule, new legal interpretation) that doesn't allow kids to
commit
at summer camps. Normally, both would have been offered by coach Mack
Brown
at the conclusion of their mini-camp sessions.
Malone said he chose Texas over Tennessee, Arkansas, Colorado, Iowa State,
TCU and SMU. He said ISU, TCU and SMU had offered, and North Lamar head
coach
Tom Felty said Tennessee, Arkansas and Colorado coaches had told him they
were preparing to offer his prize pupil.
Haney said he picked the Longhorns over Texas Tech and Colorado (offers)
and
several other schools who were recruiting him.
Malone, who has been All-District at quarterback and free safety and in
basketball as a sophomore and junior, was the district's sophomore of the
year in both sports.
"He has a great arm," Felty said, "but what really makes him special is
the
way he sees the entire field. He can find his second and third receivers
and
he never just locks onto one guy. He's also a very physical player. That's
what makes him such a fine free safety, and it also helps him at
quarterback
because he will hang in there until the last split second to get a
completion
even when he knows he's going to get decked."
There have been some questions about Malone's speed, but Felty said, "We
play
in a district with a lot of fast players and I've never seen him caught
from
behind. He ran for 405 net yards rushing and four touchdowns, and he had
more
than that, but all quarterbacks get sacked and that brought his total
down.
He's a threat running or passing."
His passing is what attracted the Longhorns. Playing for a young 6-4 team,
he
completed 106 of 202 passes (52.4%) for 15 touchdowns and had seven
interceptions.
Felty said Malone "really loves to play football. He even loves practice.
Sometimes I have the second-team quarterback working and I see him over
playing receiver for the scout team. He's ready to practice and ready to
play
every day."
Malone said he is happy to be a Longhorn. "It's a dream come true," he
said.
"My coach told me he thought they were going to offer and I was hoping
they
would because I really want to play for the Longhorns."
Asked what he thinks are his strong suits, he said, "I think I have a good
arm and pretty good speed, but I think mental attitude is really important
and I play hard and play to win all of the time."
Haney, who rushed 266 times for 1,665 yards (6.25 yards per carry) and 19
touchdowns, also was a big threat as a receiver, catching 9 passes for 205
yards and four touchdowns for the 11-2 Ramgers. He said when he committed,
"Coach Brown said they were recruiting me as a football player. He told me
they want fast, athletic kids and they would find a spot for me after I
get
there."
That spot could be running back, but it probably will be wide receiver or
defensive back.
Smithson Valley defeated San Marcos in the Class 4A playoffs last year,
and
Haney said San Marcos' defensive tackle Earl Anderson, another UT pledge,
"is
really fast to be so big. I broke about a 40-yard touchdown run in that
game
and he was right behind me most of the way. I'm glad we're going to be on
the
same side at Texas."
Asked why he picked the Longhorns, he said, "Texas has great facilities
and
great coaches and it's a first-class academic institution." With a 93.4
grade
average and a qualifying test score already, he said the way the Longhorn
coaches stressed academics along with athletics was a big factor in his
decision."
The Longhorns' other commitments are from OL Brett Valdez of Brownwood, DT
Lyle Sendlein of Scottsdale, Arizona, and DT Sonny Davis, who signed with
Texas last year, but is having to go to a junior college in Mississippi
because he failed to qualify academically. Davis said he did so well in
his
first year in the JC that he has a chance to graduate in time to enroll at
Texas next January and go through spring practice.
My next e-mail/fax will be whenever events warrant.
* * * *
The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a
year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
26
newsletters and is published weekly during football season and twice
monthly
during most of the other months. It costs $45. Save by subscribing to both
for $130 (or $110 if you take the faxes via E-Mail or $99 if you take the
faxes and newsletter via E-Mail). Send check to address at the top of
page.
I also update my 900 number ? 1-900-288-8839 ? frequently with recruiting
news. My E-Mail address is: [email protected]. |
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----- Forwarded by Marie Hejka/Corp/Enron on 01/16/2001 05:32 PM -----
Marie Hejka
01/16/2001 12:05 PM
To: Melissa Becker/Corp/Enron@ENRON, Anthony Mends/Enron Communications,
Andrea Yowman/Corp/Enron@ENRON, Joe Wong/enron@enronXgate@enronXgate, Debbie
R Brackett/HOU/ECT@ECT, Pegi Newhouse/HOU/EES@EES, John
Gillespie/Enron@EnronXGate, Kathleen Pope-Sance/HOU/EES@EES, Steve
Woods/EPSC/HOU/ECT@ECT, Georgeanna Hoiseth/Corp/Enron@ENRON, Judith
Schlesinger/HOU/ECT@ECT, Allan Sommer/Corp/Enron@Enron
cc: Beth Perlman/enron@EnronXgate, George Wasaff/Enron@EnronXGate, Kent
Morrison/NA/Enron@ENRON, John Simmons/NA/Enron@Enron, Paul
Timberlake/ET&S/Enron@Enron, Allen Elliott/HOU/ECT@ECT
Subject: Your thoughts required by 3 :00 p.m. 1/17 meeting.
Please read and be prepared to discuss at tomorrow's task force meeting.
(Paul is scheduled to speak to us to help us make a decision. FYI - I plan
to circulate the agenda before the meeting.)
Below are Paul Timberlake's notes from Friday morning's Software Selection
Team meeting.
You may remember in the beginning of this project we discussed piloting
Autonomy or an unstructured data management tool in order to reach
qualitative and quantitative information.
Some discussion was lent to finding a product perhaps which would search
email to identify experts.
Further, we discussed the value in finding a product which could help us
identify experts within Enron.
Since these discussions, we hired a Business Analyst who interviewed some 29
people and surveyed 30 additional people who concurred finding experts in
Enron would be useful.
However, only 50% of those interviewed suggested they would tag email for
others to search regardless if it could help identify experts.
But, over 90% of those surveyed agreed an Enterprise Search Engine would be
useful.
Based on what we now know, the Software Selection Team will be evaluating
three Enterprise Search Engine vendors (Inktomi, Autonomy, and Verity).
These vendors DO NOT search email like the vendor TACIT. Autonomy provides
some feature/functionality to search email (the full extent of which will be
evaluated by the SST).
Are we prepared to invest in a much more expensive search engine with
categorization feature/functionality which may provide a more robust search
platform of the future or should we decide to invest in the best value for
our current needs? Categorization is the classification of information
sources, such as documents or Web pages into a taxonomy. With some products,
the taxonomy must be determined beforehand and rules specified (both manual
operations) to tell the product how to classify information sources it
encounters. Other tools claim they create the taxonomy using a proprietary
method. See Paul's "Issue" section below.
----- Forwarded by Marie Hejka/Corp/Enron on 01/12/2001 05:52 PM -----
Paul Timberlake
01/12/2001 04:16 PM
To: Marie Hejka/Corp/Enron@ENRON, Kent Morrison/NA/Enron@ENRON, Allen
Elliott/HOU/ECT@ECT
cc: John Simmons/NA/Enron@Enron
Subject: KM/IM Meeting Notes 1/12/2001
Meeting Notes
From the 1/05 weekly meeting, it was decided that the tool being sought was
best classified as an Enterprise Search Engine (ESE) solution. This
distinction was arrived at after reviewing the characteristics described in
the charter and associated survey as to what was meant by an unstructured
data management tool.
Three leading vendors in this market are Inktomi, Autonomy, and Verity. To
stay within the time frame of the overall project, the scope of the search
tool evaluation will focus on these three vendors. Evaluation criteria
have been developed to compare the tools. This criteria focuses on the
tools' indexing and search functionality
At present the criteria excludes categorization functionality. The reason
for this is categorization is expected to involve manual effort from various
groups who own content that will be categorized. This characteristic is at
odds with the project charter requirement that the tool be unobtrusive to
current processes and culture.
Because indexing and search functionality is becoming similar among ESE
tools, it is expected that the ESE evaluation will boil down to a price
decision with Inktomi being the winner.
The three ESE vendors are being lined up to visit Enron and present their
products beginning next week through the week of January 22nd. All
interested parties are encouraged to attend.
Issue
At issue is whether categorization functionality should be included in the
ESE evaluation - or continue to focus only on indexing and search
functionality. All three vendors being evaluated include a categorization
component.
By not including categorization, we run the risk of selecting a vendor whose
categorization capabilities may not be as robust as another's. Integrating
another vendor's solution later on may prove difficult and costly.
By including categorization functionality, the evaluation criteria become
ambiguous. This is because the requirements around categorization are not
well defined at present. Consequently, we run the risk of selecting an
over-enginneered and most costly product whose perceived benefits may never
be realized.
We need more direction from the project sponsors as to what priority to place
on categorization functionality. If it is considered a priority then we also
need end user groups with specific problems identified that, if solved, could
effectively evaluate the tool and justify any additional costs. |
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. |
This is great info and very helpful. Thanks a million. I'll likely be
getting back to you.
Best,
Jeff
James D Foster@EES
03/16/2001 08:49 AM
To: Jeff Dasovich/Na/Enron@ENRON
cc: Catherine Woods/DUB/EES@EES
Subject: Re: More Inquiries From CA PUC re: Switching customers back to LDC
Good Morning Jeff,
Catherine is out of the office until Tuesday 3/20/01. Not wanting to keep
you waiting for a reply, I thought it best to give you some feedback
immediately.
The great majority of CAD's customers in CA are core. CAD does not knowingly
terminate any current customer prior to their expiration date. The reasons
why CAD's customers are turned back to the utility are as follows:
1) Upon receiving renewal pricing from the CAD rep, the customer chooses to
return to the utility.
2) Understanding that the current minimum margin per meter for our customers
is approximately $300, those customers that have extremely low annual volumes
are sent attrition letters and turned back to the LDC, at the end of their
contract. We cannot competitively price this type of customer versus the
utility, and extract enough margin to support them. Currently in the
California markets (PG&E, SDG&E, & SOCAL) , there exists approximately 50
customers that have usages so low that given current market conditions, we
will not choose to renew the contracts. The expiration dates for these are
between 5/30/2001 and 2/28/2005.
3) The customer initiates a request for termination prior to the end of their
contractual expiration date. As we are all aware, California customers,
specifically those with either an index or NYMEX product, experienced a large
swing in their pricing during the past few months. CAD has been inundated
with customers requesting to be returned to their LDC. Although we seek to
satisfy our customer to the best of our ability, returning these customers
to the utility is the LAST thing we want to do!!!!!!!
The steps we have taken to address this issue is to:
a) work with customer service/credit to offer extended payment options to
ease the effect of the increase.
b) offer to restructure the customer's contract, and reprice the customer on
a fixed price product; minimizing their risk going forward.
c) explain to the customer, in more detail, the reasons why this has
occurred, and how, going forward, the index/NYMEX pricing has eased.
Should you have additional questions, please reply or call.
-Jim
From: Jeff Dasovich@ENRON on 03/15/2001 04:50 PM CST
Sent by: Jeff Dasovich@ENRON
To: Catherine Woods/DUB/EES@EES, Dennis Harris/DUB/EES@EES, James D
Foster/DUB/EES@EES
cc: Roger O Ponce/HOU/EES@EES, Catherine Woods/DUB/EES@EES, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, [email protected], Paul Kaufman/PDX/ECT@ECT, Harry
Kingerski/NA/Enron@Enron, Peggy Mahoney/HOU/EES@EES, [email protected],
[email protected], Leslie Lawner/NA/Enron@Enron, Rebecca W
Cantrell/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, Shelley Corman/Enron@EnronXGate, Mike D
Smith/HOU/EES@EES
Subject: More Inquiries From CA PUC re: Switching customers back to LDC
Greetings:
Recall that about 3 weeks we got a call from a CA PUC staffer asking whether
we'd switched a particular gas customer (or two) back to the LDC. We looked
into it and discovered that we'd mistakenly switched the customer back due to
a mix up about the fact that the customer had two active meters behind two
different utilities. We informed the PUC staffer of the mix-up and explained
that the situation would be resolved.
The questions from the staffer arose because the CA PUC made a bad decision a
couple of months ago. When gas prices ran up at the California border a lot
of large ("noncore") customers attempted to switch back to the utility tariff
in the hope of lowering gas costs. In response, SoCalGas filed with the
Commission asking the PUC to prohibit customers from switching back. The
Commission agreed and put the prohibition in place. The Commission is now
concerned that if suppliers terminate their contracts with customers (for
whatever reason), or choose not to renew the contracts when they expire,
customers won't have the option of returning to LDC service.
Today, I received a letter from the President of the Commission asking me to
respond to the following:
Have you "stopped selling and delivering natural gas to any non-core
customers with whom you have an existing procurement contract, or...notified
any of your non-core customers that you do not intend to renew an existing
natural gas commodity procurement contract. If your company has stopped or
intends to stop serving non-core customers, the CPUC also needs to know
how many contracts you have terminated or expect to terminate
the natural gas volumes involved
the location of the non-core customer(s)
the reason(s) your company intends or has already acted to terminate those
contracts."
There's a good chance that the letter from the President of the Commission is
linked to the fact that we've recently switched our electricity customers
back to utility service in California.
Prior to deciding whether and how to respond to the Commissioner, I'm trying
to get handle on whether we're re-sourcing any gas retail customers to the
utility prior to expiration, choosing not to renew contracts once they've
expired, etc. Catherine, or Jim Foster, can you help out? Thanks.
Best,
Jeff |
Jim,
I was thinking that since I do not have enough time to prepare the appplication process, it would be a good idea for me to fax the recommendation letter forms to you first so you know what to expect and maybe start writing. In the meantime, I will mail those forms as well as envelopes because you have to retunrn those to me. The envelopes would have to be signed across the seal.
There will be a total of four schools that I am applying to.
1- Yale
2- Boston College
3- University of Massachusetts
4- Bocconi University (Italy)
Thanks,
Monika
-----Original Message-----
From: Nielsen, James - COB [mailto:[email protected]]
Sent: Friday, November 16, 2001 4:24 PM
To: Causholli, Monika
Subject: RE: Information from University of Colorado
Hi -
I would contact the other finance guys here. Who knows, they may have some great leads. As far as the letter is concerned, I would be happy to do it. Generally, however, each grad school has a specific recommendation form that they want references to fill out. So let me know after you get the required info from the schools. Typically, students just send it to me as I will probably have to submit it directly to the grad school people as they generally want confidential letters.
Jim
-----Original Message-----
From: Causholli, Monika [mailto:[email protected]]
Sent: Friday, November 16, 2001 11:37 AM
To: Nielsen, James - COB
Subject: RE: Information from University of Colorado
Jim,
I did write to Eric Hughson about the PhD program and I am waiting for his response.
In the meantime can you write me a recommendation letter. I know you don't like to do this but if you would it would be great. I am planning to apply to about 3-4 schools for now. I will mail the paperwork to you on Monday.
Also, should I contact the other finance professors at OSU trying to see what they can help me with?
Thanks for all your help. I will keep you posted.
Monika
-----Original Message-----
From: Nielsen, James - COB [mailto:[email protected]]
Sent: Friday, November 16, 2001 12:29 PM
To: Causholli, Monika
Subject: FW: Information from University of Colorado
Hi Again Monika -
Here is what I heard from my former professor. If I were you, I would contact Eric Hughson about CU's PhD program in Finance. It is worth a try.
I will contact you if I hear about other opportunities either for graduate study or employment opportunities. Keep me posted.
Jim
-----Original Message-----
From: Ron Melicher [mailto:[email protected]]
Sent: Friday, November 16, 2001 10:18 AM
To: Nielsen, James - COB
Subject: RE: Hello Old Friend
Hi Jim,
It has been a long time between communications. We no longer offer an MS in Finance (however, I believe the Denver Campus does). We admit only one or two new students in the Finance PhD Program each year--thus it is very competitive. Our Finance PhD Program coordinator is Eric Hughson and he could be contacted at [email protected] <mailto:[email protected]>. Unfortunately, I don't have any specific recommendations.
Ron
PS--I also still like the teaching part of the academic life and probably won't be retiring for another few years.
-----Original Message-----
From: Nielsen, James - COB [mailto:[email protected]]
Sent: Thursday, November 15, 2001 2:49 PM
To: [email protected]
Subject: Hello Old Friend
Hi Ron -
It certainly has been a long time since we have communicated. I am glad to see that you have not yet retired and either have I. Moreover, I don't have any plans to do so in the immediate future as this job is so much fun.
The reason I am writing is that a former student of mine from Albania who works for Enron has been thinking for some time that she would like to go back to school and get a Master's Degree in Finance or PhD. Being a foreign student she needs to get some sort of scholarship or assistantship. She graduated from OSU a year or so ago and has been working at Enron since that time. Given what is happening at Enron, I am not surprised that she has decided to go back for a graduate degree.
Our College of Business does not have any graduate student assistantships and we also don't offer a master degree in finance or PhD. Monika is without a doubt one of the sharpest students I have had in recent years. She is incredibly bright and works very hard.
Does CU still offer the masters degree in finance and still offer student assistantships. If I recall, George Carvel was working on a MS in Finance and had an assistantship under Maurice Unger when I was going to CU. If so, can I give Monika your name and have her contact and perhaps forward her resume to you. Or can you put her in touch with the right person at CU?
If CU does not have anything available do you know of a few schools who might so that I can pass the information on to Monika?
Thanks for any help you can provide.
Best regards,
Jim
**********************************************************************
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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. |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/02/2000
02:01 PM ---------------------------
Jim Dyer <[email protected]> on 05/02/2000 12:04:06 PM
To: "'[email protected]'" <[email protected]>
cc: Sheridan Titman <[email protected]>
Subject: RE: Real Options
Vince,
If you take a cab, ask them to take you to the College of Business
building at the corner of 21st and Speedway. The main entrance to the
business school is on Speedway, across from the old gymnasium. Come in the
main entrance, which has a large, glass structure, and you will be on the
second floor. Go to your left and ride up the first set of escalators to
the third floor. When you step off of the escalators, you'll be facing
north and continue in that direction through two sets of glass doors into
the northern side of the building. This is where most faculty offices are
found. My office is 3.218, which is in the northwest corner of the
building.
If you have any problems, you should be able to ask directions from
most anyone in the halls. I will look for you around 11:00 on Thursday, and
will be happy to provide any other transportation that you need. Please let
me know if you have any other questions.
Jim
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, May 02, 2000 9:23 AM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]
Subject: RE: Real Options
Jim,
I can take a cab or get a rental car from the airport (thanks for your
kind offer).
I shall appreciate, however, if you could drop me off at the hotel before
dinner.
The time allocation for my speech is about right. I think I shall need
about 90
minutes.
Please let me know where we can meet on Thursday. I shall be at an
off-site
on Wednesday but you can reach me on my cell phone (713 410 5396)
and by sending a cc message to my AOL address: [email protected].
I look forward to meeting you.
Vince
Jim Dyer <[email protected]> on 05/01/2000 01:42:44 PM
To: "'[email protected]'" <[email protected]>
cc: Sheridan Titman <[email protected]>
Subject: RE: Real Options
Vince,
I could pick you up at the airport, or you could rent a car and come
to campus. I have made tentative plans for us to go to lunch with some
other faculty between 11:30 and 12:00, and then you would have some time to
visit with Sheridan and perhaps with some other faculty members as well
between lunch and my class.
Sheridan and a guest speaker from his class, Suresh Sundaresan from
Columbia, will be joining us for dinner. I could provide transportation to
your hotel, and pick you up for dinner as well if you consider that to be
the most convenient alternative.
I will have a PC available in the classroom, with Office 2000 and
windows NT. You could use powerpoint with no difficulty from that machine,
if that's most convenient. You could simply email the presentation, and I
would have it for you if you prefer.
How much time would you like? I would like to reserve about 30
minutes at the end for a general discussion of issues related to real
options, and about 30 minutes at the beginning of class for some remarks
regarding the final assignment and a class evaluation by the students
(which
is required for all classes). At some point, we should take a brief break,
so that would leave approximately 1.5 to 2 hours for your presentation if
you would like that flexibility. Otherwise, I could take up the "slack".
I look forward to seeing you on Thursday.
Jim
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, April 28, 2000 11:21 AM
To: [email protected]
Cc: [email protected]; [email protected]
Subject: Re: Real Options
Jim,
I am scheduled to arrive in Austin on May 4 at 10:32 a.m.
I shall be glad to join you and a group of your colleagues for lunch.
I am flying back to Houston Friday morning and we can meet for dinner
after
the class.
I shall have a Power Point presentation on my PC. I can also
prepare a set of transparencies if this is more convenient for you.
Vince
Jim Dyer <[email protected]> on 04/27/2000 05:44:51 AM
To: "'[email protected]'" <[email protected]>
cc: Sheridan Titman <[email protected]>
Subject: Real Options
Vince,
I am traveling at this time, attending a NSF meeting in Washington.
However, I wanted to touch base regarding plans for your presentation in my
class on real options next Thursday (May 4). As you recall, the class is
from 3:30 to 6:30, and you could plan to take a significant part of that
time for your presentation. Sheridan Titman has agreed to join us after
his
class at about 6:00 for a 30 minute "panel discussion" with the students on
issues related to real options in practice.l
I am not sure about your travel plans, but we would be happy to plan
lunch on Thursday with several of my colleagues. I would also be delighted
to be your host for dinner on Thursday night if that is convenient for you.
I'll be back in my office on Monday, and will look forward to
hearing from you.
Jim
James S. Dyer
Fondren Centennial Chair in Business
Department of Management Science and Information Systems
CBA 5.202
The University of Texas at Austin
Austin, Texas 78712-1175
Email: [email protected]
Telephone: 512-471-5278
Fax: 512-471-0587 |