Message-ID: <30816429.1075841161843.JavaMail.evans@thyme>
Date: Wed, 23 Jan 2002 07:33:06 -0800 (PST)
From: sarah.palmer@enron.com
To: sarah.palmer@enron.com
Subject: Enron Mentions -- 01/23/02
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FBI arrives at Enron offices; company posts guards over records
Associated Press Newswires, 01/23/2002

FBI Probe Of Enron Begins in Houston; Firm Calls Agency After Allegations Of Data Shredding
The Washington Post, 01/23/2002

Enron Creditor Asks Court To Force Co To Save Documents
Dow Jones News Service, 01/23/2002

Shredding over the years: paper strips, confetti cuts for cause
Associated Press Newswires, 01/23/2002

Planet Barton - the daily news quiz with a difference.
The Guardian, 01/23/2002

Enron Unit Creditors Asking For Naming Trustee, Examiner
Dow Jones News Service, 01/23/2002

Andersen execs getting subpoenas, FBI checking shredding report
Associated Press Newswires, 01/23/2002

US Treasury Secy: Task Force On Enron To Report Soon
Dow Jones Energy Service, 01/23/2002

Enron's In-House Security Team To Leave, Form Private Co
Dow Jones Energy Service, 01/23/2002

Accounting Oversight Board To Disband By March 31
Dow Jones News Service, 01/23/2002

Bush Says Handling of Enron Case Was Proper
The Washington Post, 01/23/2002

USA: US Congress returns to Enron, recession, politics.
Reuters English News Service, 01/23/2002

Campaign Finance After Enron
The Washington Post, 01/23/2002

Federal Judicial Nominee To Face Questions About Enron
Dow Jones Energy Service, 01/23/2002

India Dabhol Pwr To Explain Equipment Transfer To Customs
Dow Jones International News, 01/23/2002

E-chips are still in India, says Enron.
The Times of India, 01/23/2002

BG Group Says Has Revised Agreement To Buy Enron India
Dow Jones International News, 01/23/2002

STOCKWATCH - BG gains after agreeing cheaper price for Enron's Indian assets
AFX News, 01/23/2002

India Dabhol Pwr Confirms End-Mar Deadline For Stake Sale
Dow Jones Energy Service, 01/23/2002

Furnish details on Enron scam, state urged.
The Times of India, 01/23/2002

Enron's failure in Japan clears way for rivals
South China Morning Post, 01/23/2002

Laydoff.com gives voice to disgruntled Enron workers
South China Morning Post, 01/23/2002

Dice Inc. to Provide IT Job Listings For EnronX.org Career Site
PR Newswire, 01/23/2002

The Enron Tale
The Washington Post, 01/23/2002

________________________________________________________________________________

FBI arrives at Enron offices; company posts guards over records

01/23/2002
Associated Press Newswires
Copyright 2002. The Associated Press. All Rights Reserved.

HOUSTON (AP) - Enron Corp. invited the FBI to its headquarters after a former executive said she saw employees shredding documents as recently as last week. Meanwhile, shareholders suing the once-mighty energy company sought access to its former auditor's records.
FBI agents arrived at Enron's headquarters Tuesday to investigate the shredding allegations and company guards blocked employee access to accounting and finance offices on the 19th and 20th floors of the 50-story building.
"The company has done everything you'd expect under these circumstances," Enron attorney Kenneth Marks told U.S. District Judge Melinda Harmon.
The FBI declined to comment, but Enron officials said the agents were on hand to talk with workers and check into the claims.
On Wednesday, Harmon awaited a plan from shareholders' attorneys to bar auditing firm Arthur Andersen from any further shredding of documents related to Enron's audits.
One of those attorneys, William Lerach, said multiple lawyers agreed that they want Harmon to approve a plan allowing them to inspe

000 hits and Mr Allario has sold almost 500


Message-ID: <10963863.1075863605597.JavaMail.evans@thyme>
Date: Wed, 23 Aug 2000 06:55:00 -0700 (PDT)
From: carla.hoffman@enron.com
To: tim.belden@enron.com, robert.badeer@enron.com, jeff.richter@enron.com,
	phillip.platter@enron.com, mike.swerzbin@enron.com,
	diana.scholtes@enron.com, sean.crandall@enron.com,
	matt.motley@enron.com, mark.guzman@enron.com, tom.alonso@enron.com,
	mark.fischer@enron.com, stewart.rosman@enron.com,
	greg.wolfe@enron.com
Subject: DJ Calif Assembly Delays SDG&E Rate Roll-Back Vote To Thu
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X-From: Carla Hoffman
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X-cc:
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---------------------- Forwarded by Carla Hoffman/PDX/ECT on 08/23/2000 02:02
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     08/23/2000 12:26 PM

To: "Leopold, Jason" <Jason.Leopold@dowjones.com>
cc:  (bcc: Carla Hoffman/PDX/ECT)
Subject: DJ Calif Assembly Delays SDG&E Rate Roll-Back Vote To Thu

18:43 GMT  23 August 2000
 *DJ Calif Assembly Delays SDG&E Rate Roll-Back Vote To Thu

 Question About Who Will Pay Elec Bills

 NEW YORK (Dow Jones)--The California State Assembly has postponed until
Thursday
 a vote on restoring electricity rates for customers of San Diego Gas &
Electric Co. to
 pre-deregulation levels, according to a spokesman for Assemblywoman Susan
Davis
 (D-San Diego), who is sponsoring the bill.

 The bill was sent to the assembly's appropriations committee because some
 representatives are concerned about who - if not SDG&E customers - will pay
for
 electricity in the city this summer and past spring. The difference between
what SDG&E
 customers would pay under the legislation and what SDG&E is paying for
supplies in
 the skyrocketing electricity markets has been estimated at $1.5 billion.

 Assembly Passage Of Measure Uncertain

 The legislation would roll back electricity rates to June 1, 1999, levels
for customers of
 SDG&E, a unit of Sempra Energy (SRE). This spring and summer, the utility's
 customers have received electricity bills that are nearly triple what they
were last year.

 Electricity rates for the state's other utilities haven't been deregulated
yet, so their
 customers are receiving fixed prices per kilowatt-hour of power used.

 Prospects for passage of the bill, AB 2290, are unclear in the Assembly.
The California
 State Senate passed the bill unanimously last week. But it would need 54
votes to pass
 through the 80-member Assembly before Gov. Gray Davis could consider
signing it into
 law.

 If all 47 Democrats approve the measure, it would need at least seven
Republican votes
 to pass. But, as reported Tuesday, only three Republican lawmakers said
they would
 support the bill.

 The rollback would provide some economic relief to SDG&E's 1.1 million
customers,
 who have been paying market-based rates for electricity since June. If the
rollback is
 approved, utility bills for residential customers would be about $55 to $60
a month,
 according to SDG&E.

 Steve Maviglio, press secretary to Davis, said the governor hasn't decided
whether he
 would sign the bill into law if approved.

 Monday, the state's Public Utilities Commission rejected a proposal to roll
back rates,
 instead approving a stabilization rate plan that would reduce the cost of
electricity to
 about $68 a month for residential customers who conserve usage.

 -By Mark Golden, Dow Jones Newswires; 201-938-4604;
mark.golden@dowjones.com
 Copyright (c) 2000, Dow Jones & Company Inc

G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

The i


Message-ID: <21089812.1075840502882.JavaMail.evans@thyme>
Date: Thu, 23 May 2002 17:56:47 -0700 (PDT)
From: ruth.concannon@enron.com
To: mark.ellenberg@cwt.com, edward.smith@cwt.com
Subject: RE: Trailblazer
Cc: ed.mcmichael@enron.com
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Bcc: ed.mcmichael@enron.com
X-From: Concannon, Ruth </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RCONCAN>
X-To: 'Mark Ellenberg' <Mark.Ellenberg@cwt.com>, Edward Smith <Edward.Smith@cwt.com>
X-cc: McMichael Jr., Ed </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Emcmich>
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Kinder Morgan has wired ENA $34,978.01,  They also provided backup information that the payment was for Trailblazer post petition receivables + interest, and it was the net amount of the following items:

Post Petition A/R Items + Interest:

	$84,296.30	ProRated Demand (December 3-31)
	$90,578.56	Demand (January 1-31)
     ($33,465.04)	Demand (February 1-28) + Capacity Release Revenue (February 7-28)
    ($176,387.83)	Demand (March 1-31) +  Capacity Release Revenue (March 1-31)

Supposedly, TBPL has also sent Ed M. or Ruth a letter describing how things are going to be handled going forward.  Neither Ed or I received the letter so I am asking that TBPL send it again.  By now, ENA should have also received a wire for April business for about $176,000.

Since there is normally a payment lag, I recommend that TBPL immediately pay us $174,874.86 + interest that has been frozen by TBPL for the December and January post petition amounts.  If the court comes back and agrees with TBPL's agruments, then TBPL makes an adjustment on the next invoice to ENA.  It is about the same amount of money.

Ruth

-----Original Message-----
From: Mark Ellenberg [mailto:Mark.Ellenberg@cwt.com]
Sent: Thursday, May 23, 2002 6:12 PM
To: Edward Smith; Concannon, Ruth
Subject: Re: Trailblazer

Ruth, please confirm that the $$ have arrived.  Then let's see where we
are.

Mark C. Ellenberg
Cadwalader, Wickersham & Taft
1201 F Street, NW
Washington, DC  20004
202.862.2234

                    Edward Smith
                    x5790                To:     Mark Ellenberg/DC/CWT@CWT
                    Office:  NY          cc:
                                         Subject:     Trailblazer
                    05/23/02 07:09
                    PM

I talked to Philip Bentley, Trailblazer's counsel, today.  I told him that
Enron would not even consider the possibility of exploring settlement
unless Trailblazer turned over the proceeds of the capacity release that it
has been holding.   He said that he would relay that to his client.

Bentley left a message for me tonight.  His message said that he had spoken
to his contact at Trailblazer and that "coincidentally" Trailblazer either
just has or is about to wire the final payment to Enron.  Bentley said that
this was in keeping with "Trailblazer's practice of wiring portions of the
payments as they came in the door."  He said Enron should either already
have the payment or should be getting it soon.  He said that this appears
to eliminate the issue I raised with him today.  He said that the "ball is
back in our court."  He asked me to relay to Enron that this was no longer
an issue and let him know whether there is any interest in exploring
settlement.

=========


Message-ID: <12685493.1075841185865.JavaMail.evans@thyme>
Date: Tue, 8 Jan 2002 07:46:23 -0800 (PST)
From: sarah.palmer@enron.com
To: sarah.palmer@enron.com
Subject: Enron Mentions -- 01/08/02-01/07/02
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X-cc:
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Enron Gets Bids for Stake in Trading Unit --- Citigroup, UBS, BP Make Offers, but J.P. Morgan Pulls Out of the Running
The Wall Street Journal, 01/08/2002

BP Bids for Some Enron Assets, May Seek Others
Bloomberg, 01/08/2002

Enron Gets Bids for Control of Energy Trading Unit
Bloomberg, 01/08/2002

Winner of Enron energy ops expected Friday; Sempra may win metals unit bidding
AFX News, 01/07/2002

Enron fights attempt to change venue --- Many creditors seek move from N.Y. to Houston
The Toronto Star, 01/08/2002

Enron -3: Venue Change For Month-Old Case Worries Judge
Dow Jones Energy Service, 01/07/2002

BP offers 25 mln usd for Enron's IT systems linked to gas, electricity trading
AFX News, 01/08/2002

Sanchez calls for combining Railroad Commission, PUC
Associated Press Newswires, 01/07/2002

UK: AEP hires Enron Nordic power trading team.
Reuters English News Service, 01/08/2002

Germany's WestLB Sues Enron Units Over Letter Of Credit
Dow Jones News Service, 01/08/2002

El Paso,Tractebel,Singapore Power Eye SK-Enron Stk-Report
Dow Jones International News, 01/07/2002

CNOOC sets sights on overseas prize Chairman confirms talks may seal US$600m deal, with analysts tipping bankrupt Enron as probable seller
South China Morning Post, 01/08/2002

Bush Escapes Deserved Heat In Enron Case
Newsday, 01/08/2002

Ask SmartMoney: Worthless Or Worth Less?
Dow Jones News Service, 01/08/2002

Glencore rules itself out of bidding for Enron's London metals trading arm
AFX News, 01/08/2002

Consulting Alert: Enron Debacle Could Force Andersen to Divest Consulting Practice
Business Wire, 01/08/2002

____________________________________________________________

Enron Gets Bids for Stake in Trading Unit --- Citigroup, UBS, BP Make Offers, but J.P. Morgan Pulls Out of the Running
By Mitchell Pacelle and Jathon Sapsford
Staff Reporters of The Wall Street Journal

01/08/2002
The Wall Street Journal
A3
(Copyright (c) 2002, Dow Jones & Company, Inc.)

In a small but vital first step toward resurrecting its trading operations, Enron Corp. received formal bids for a majority stake in its energy-trading arm from Citigroup Inc., UBS AG and BP PLC, people familiar with the matter said.
They said there was no bid from J.P. Morgan Chase & Co., one of Enron's largest creditors, which had been weighing an offer for the unit.
It was unclear late yesterday how many other bids, if any, had been received for the wholesale trading business, once considered Enron's flagship operation. Goldman Sachs Group Inc. and American International Group Inc. also had been looking at the unit.
Under bankruptcy-court rules governing the sale, the initial bids were submitted on a confidential basis, and will be used in an "auction" Thursday, when the company's advisers are expected to press bidders to raise their offers. The results will be disclosed Friday.
While Citigroup and UBS were known to be contemplating bids, the interest from BP, the London-based global oil company, hadn't been widely known. A spokesman for BP couldn't be reached for comment yesterday evening.
Houston-based Enron filed for Chapter 11 bankruptcy-law protection on Dec. 11, gaining a reprieve from creditors as it seeks to reorganize. Enron's advisers at Blackstone Group and Weil, Gotshal & Manges LLP had hoped to cement a "stalking horse" bid prior to yesterday's deadline, which would have set a floor for the bidding. They came close to finalizing such a deal with Citig

payment
bank account
million
billion
damages
compensation


Message-ID: <31621939.1075852657197.JavaMail.evans@thyme>
Date: Wed, 6 Jun 2001 11:22:07 -0700 (PDT)
From: david.morris@lehman.com
To: larimore@enron.com, jordan.larimore@lehman.com
Subject: The Morning Market Call - Wednesday June 6th, 2001.
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X-From: "Morris, David C." <David.Morris@lehman.com>@ENRON <IMCEANOTES-+22Morris+2C+20David+20C+2E+22+20+3CDavid+2EMorris+40lehman+2Ecom+3E+40ENRON@ENRON.com>
X-To: Larimore, Jordan R. <Jordan.Larimore@lehman.com>
X-cc:
X-bcc:
X-Folder: \JSKILLIN (Non-Privileged)\Deleted Items
X-Origin: Skilling-J
X-FileName: JSKILLIN (Non-Privileged).pst

 <<MF June 6th 2001.pdf>>

			Good Wednesday Morning - Comments From The Local
Guys!

Yesterday, we received revised numbers on first quarter productivity, which
came in at -1.2% quarter-over-quarter on an annualized basis. On a
year-over-year basis, productivity remains at a relatively healthy 2.5%
rate, although this is half the pace at which it was running less than one
year ago. A slowdown in productivity is not unusual during an economic
slowdown. Corporations face fixed costs, while business is declining.
Unfortunately, that is why there are layoffs. With lower corporate costs,
productivity should improve as the economy picks up steam. Tomorrow, the
market will be receiving the weekly initial jobless claims, which are
expected to remain near last week's level. Lehman Brothers' economists look
for first-time unemployment insurance filings to total 415,000 for the week
ended Saturday, June 2.

The 30-year US T-Bond yield is 5.65%.
The 10-year note yield is 5.25%.
The 5-year is trading at 4.83%.
Spot crude oil is trading at $27.44 p/b.
Natural Gas - Henry Hub -  is trading at $3.85 p/mcf.

			AD Time:

New Federal Insider-Trading Rule (Rule 10b5-1) have been adopted by the SEC
under the Securities Exchange Act of 1934. This rule greatly enhances an
insider's/employee's ability to trade his/her corporate shares during
blackout periods.
Previously, without the protection of this new SEC rule, employees and
insiders could safely trade only outside of designated blackout windows.
Under this new rule, insiders/employees may have the ability to purchase and
sell their corporate shares even during blackout periods if a written plan
was established and in force when the insider/employee was not in possession
of material, non-public information.
The new rule contains other restrictions and should be reviewed carefully.

Lehman Brothers has established a turn-key plan that take into account the
regulatory procedures for establishing such a plan.    Please email us or
call us for more information.

				Lehman Brothers' Research.

IMPACT CALLS

Procter & Gamble(PG) 2 - Buy A. Gillin Lefever, .212.526.5801
Morphing Into An Attack Aircraft Carrier
OLD NEW STREET P/E
Price: $63.6 EPS 2000 N/A $2.95 N/A N/A
52 Wk Ra: $79 - 53 EPS 2001 $3.10E $3.10E $3.11E 20.5
Mkt Cap: $90.8B EPS 2002 $3.25E $3.25E $3.27E 19.6
FY: 6/30 Price Target $69 $69
Rank 3 2
*We are upgrading PG to a Buy (2) rating based upon what we perceive as a
good trading opportunity in front of their June 15 outlook
meeting. We expect the meeting to highlight (1) more aggressive actions to
reduce PG's asset base than previously telegraphed; (2)
expect FY 02's recurring earnings growth to be confirmed at the
consensus-implied 6-8% rates and (3) expect previously stated long-term
growth targets to remain in place.
*Cost cutting /right-sizing remains the theme for the balance of the
calendar year / majority of FY 02. A very focused effort will
improve PG's competitiveness, but there is a reasonable probability PG will
exceed the previously telegraphed $400-$800 M in
incremental restructuring charges in order to further accelerate the
restructuring process.
*PG is slowly shifting its attention to sales growth but 4-6% long-term
growth is at least one fiscal year out. Maximum upside is
$72.00 absent any ear


Message-ID: <9671845.1075849866178.JavaMail.evans@thyme>
Date: Wed, 18 Jul 2001 10:25:00 -0700 (PDT)
From: ann.schmidt@enron.com
Subject: Enron Mentions
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X-Origin: KEAN-S
X-FileName: skean.nsf

Senate asked to hold Reliant in contempt over document release
Associated Press Newswires, 07/18/01
Calif. Senate Panel Votes To Cite Reliant With Contempt
Dow Jones Energy Service, 07/18/01

USA: UPDATE 1-Sempra looks to natgas lines to carry optic fiber.
Reuters English News Service, 07/18/01

US GAO Demands Cheney Provide Data On Energy Meetings
Dow Jones International News, 07/18/01
Investigative arm of Congress issues demand letter for energy meetings
Associated Press Newswires, 07/18/01
Enron's Azurix blocks construction of Argentina-Uruguay gas pipeline - report
AFX News, 07/18/01
Fitch Rts Marlin Water Trust II Sr Secured Notes Due 2003, `BBB'
Business Wire, 07/18/01

Senate asked to hold Reliant in contempt over document release
By DON THOMPSON
Associated Press Writer

07/18/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SACRAMENTO (AP) - A Senate committee investigating possible price gouging in
California's energy market voted unanimously Wednesday to ask the full Senate
to find Houston-based Reliant Energy in contempt for failing to comply with a
subpoena for documents.
The decision came despite Reliant's last-ditch offer to turn over 10,000
documents under a contingent confidentiality agreement that the Senate Select
Committee to Investigate Market Manipulation rejected.
"I'm not just trying to buy time," said Reliant attorney Charles J. Stevens.
"We believe we have acted cooperatively. We believe we have a good-faith
legal dispute."
"It's clear you're trying to work with us. It's not contempt with contempt,"
agreed committee Chair Joseph Dunn, D-Santa Ana.
By contrast, Sen. Steve Peace, D-Chula Vista, blasted Reliant's "shoddy
behavior" before backing what he termed "a legally unprecedented step."
If the full Senate imposes sanctions against Reliant, it will be the first
time since 1929, when the Senate voted to jail reluctant witnesses during a
committee investigation of price fixing and price gouging allegations
involving cement sales to the state.
There are no set penalties, said committee special counsel Laurence Drivon.
By law, "the Senate can take such action as it deems necessary and
appropriate."
The contempt citation will be presented to the Senate Thursday, but will
immediately be sent to the Rules Committee for another hearing before the
full Senate acts, Dunn said.
He said the committee had no choice but to seek the sanctions and likely
force a court battle after it was unable to reach agreement with Reliant over
the confidentiality of its documents. The committee voted 6-0 in favor of the
contempt finding.
"If we reach agreement on these issues, the process would be terminated
immediately," Dunn said.
In that light, the committee stepped back from its contempt vote last week
against Enron Corp. after the company and committee moved closer to agreement
over its release of thousands of documents stored in Texas.
Enron sued the committee last week to stop the subpoena of its financial and
electricity trading records. Among its objections are that only the Federal
Energy Regulatory Commission has the authority to investigate wholesale
markets.
Reliant, like Enron, had argued the company's financial papers are outside
the committee's jurisdiction because most of its operations and paperwork are
outside California.
Atlanta-based Mirant Inc. also at least temporarily avoided a contempt
citation by agreeing to turn over subpoenaed documents. The committee will
review both companies' compliance in 30 days.

Copyright , 2000 Dow Jones & Comp


Message-ID: <26468272.1075840650546.JavaMail.evans@thyme>
Date: Thu, 21 Dec 2000 01:21:00 -0800 (PST)
From: carla.hoffman@enron.com
To: tim.belden@enron.com, robert.badeer@enron.com, jeff.richter@enron.com,
	phillip.platter@enron.com, mike.swerzbin@enron.com,
	diana.scholtes@enron.com, sean.crandall@enron.com,
	matt.motley@enron.com, mark.guzman@enron.com, tom.alonso@enron.com,
	mark.fischer@enron.com, jesse.bryson@enron.com,
	chris.mallory@enron.com
Subject: DJ Selling Power May Be Attractive To Pulp, Paper Mills
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X-From: Carla Hoffman
X-To: Tim Belden, Robert Badeer, Jeff Richter, Phillip Platter, Mike Swerzbin, Diana Scholtes, Sean Crandall, Matt Motley, Mark Guzman, Tom Alonso, Mark Fischer, Jesse Bryson, Chris Mallory
X-cc:
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X-FileName: mark guzman 6-28-02.nsf

---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/21/2000 09:30
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     12/21/2000 07:40 AM

To: undisclosed-recipients:;
cc:
Subject: DJ Selling Power May Be Attractive To Pulp, Paper Mills

15:09 GMT 21 December 2000 =DJ Selling Power May Be Attractive To Pulp,
Paper Mills
By Zahida Hafeez
Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)--As power prices skyrocket in the Pacific northwest, and
forest products markets soften, some pulp and paper producers could consider
turning into power vendors, taking downtime and instead reselling energy
into the open market.
At least in theory, many analysts believe that switching to selling power
can be a more profitable enterprise for pulp and paper mills, as it has been
for some aluminum mills.
Nationwide, pulp and paper makers generate roughly 55% of their energy,
while 45% is purchased from outside sources, in some cases through fixed
pricing arrangements.
And some even generate power enough to compete with public utilities for
rank. The world's largest newsprint maker, Abitibi-Consolidated Inc. (ABY),
which ranks as the third-largest generator of power in the Canadian
northwest region, self-generates 35% of its energy needs.
Of course, not all companies could switch. Firstly, not all co-generate a
significant amount of their energy needs, and those that do need to keep
running their operations side-by-side. Secondly, the fixed-rate contracts
with public utilities bar customers from reselling power. And lastly, energy
sale is strictly regulated in many parts of the U.S. and Canada, and hence
not very profitable.
Mills which could profit from selling energy are those with fixed pricing
arrangements for natural gas and electricity. They could take downtime while
reselling their energy at a higher price. Alternatively, they could adjust
operations to run machines during non-peak hours, while selling electricity
during the peak hours.
Meanwhile, mills that have onsite hydroelectric power generators, such as
Abitibi and Pacifica Papers Inc. (T.PPP), can easily sell surplus energy or
even close down operations and sell energy instead.
With wholesale power prices for day-ahead delivery hovering in the mid-$400s
a megawatt hour in the Pacific northwest region, and hitting $3000 a
megawatt hour just two weeks ago on speculation that extremely cold weather
would boost demand to where it would exhaust supply, it might not be a bad
plan to consider shutting down.
Newsprint Makers Could Double Profits
Rob Duncan, analyst with Research Capital Corp. in Toronto, estimates that
those paper companies, which are now making a profit of $150 to $200 per ton
of newsprint, for instance, could double their profits. They could be making
a profit of $300 a ton of newsprint capacity closed if they were to sell
electricity even at a rate of $250 a megawatt hour.
Nevertheless, Duncan added, "My feel


Message-ID: <28252832.1075845697768.JavaMail.evans@thyme>
Date: Thu, 19 Apr 2001 16:42:00 -0700 (PDT)
From: ccampbell@kslaw.com
To: kay.mann@enron.com
Subject: FW: ENA Letter
Cc: jkeffer@kslaw.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: jkeffer@kslaw.com
X-From: "Campbell, Carolyn" <CCampbell@KSLAW.com>
X-To: "'kay.mann@enron.com'" <kay.mann@enron.com>
X-cc: "Keffer, John" <JKeffer@KSLAW.com>
X-bcc:
X-Folder: \Kay_Mann_June2001_1\Notes Folders\All documents
X-Origin: MANN-K
X-FileName: kmann.nsf

Kay:

See Greg's e-mail below.  Attached is a re-draft of the "no objection to
forms" letter.  I have not yet furnished the re-draft to Greg.  Please
review and advise of any comments.  Thanks.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
 <mailto:ccampbell@kslaw.com> ccampbell@kslaw.com

Enclosure:    140366v4

-----Original Message-----
From: Lang, Gregory F. [mailto:gregorylang@paulhastings.com]
Sent: Thursday, April 19, 2001 8:58 PM
To: 'ccampbell@kslaw.com'
Subject: ENA Letter

Carolyn- I discussed the issue re the ENA letter with the lenders and they
can live with the delivery of a letter attaching the forms with the "no
objection" and "no act in furtherance of frustration" language we discussed
with Kay.  We also need to make sure a mechanism in place that ensures that
upon Pegasus' payment of the $800 on the morning of the transaction closing
(post-Turbine K execution and pre-escrow release), ENA will deliver the
membership interest in Salmon and any other deliverable required to allow
the Delta/Pegasus slate of officers to be installed to execute the Salmon
Note and the Salmon Security Agreement. I suppose this can be effected in
that escrow control letter that Freshfields is drafting that ENA and the
lenders will sign.

Do you want to redraft your letter or would you prefer us to mark it up. Let
me know.

Greg

Gregory F. Lang
Paul, Hastings, Janofsky & Walker LLP
1055 Washington Blvd.
Stamford, CT 06901

203.961.7446 (p)
203.674.7646 (direct fax)
203.359.3031 (firm fax)
gregorylang@paulhastings.com <mailto:gregorylang@paulhastings.com>

"paulhastings.com" made the following annotations on 04/19/01 21:57:48
----------------------------------------------------------------------------
--
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address. Our new domain name is paulhastings.com.
In most cases, our address is composed of conventional first name and last
name plus @paulhastings.com. Here are two examples:
janesmith@paulhastings.com and danjones@paulhastings.com. If you have any
questions, please contact us at noc@paulhastings.com.

============================================================================
==
"The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from all
computers."

============================================================================
==

                    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.

 - ENA Ltr to Delta Lender re Form of Agmt.DOC


Message-ID: <20827636.1075848149783.JavaMail.evans@thyme>
Date: Mon, 12 Mar 2001 05:08:00 -0800 (PST)
From: pete.gohm@enron.com
To: steven.kean@enron.com
Subject: The Financial Services Information Sharing and Analysis Center
Cc: michael.hicks@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
Bcc: michael.hicks@enron.com
X-From: Pete Van De Gohm
X-To: Steven J Kean
X-cc: Michael Hicks
X-bcc:
X-Folder: \Steven_Kean_June2001_4\Notes Folders\Discussion threads
X-Origin: KEAN-S
X-FileName: skean.nsf

Steve:

Information on the Financial Sector's ISAC.  Key question is will we qualif=
y=20
for membership - see para 3. =20
If we qualify as a "designated financial services exchange and finance sect=
or=20
utilities" this ISAC will work for us. =20
If not, I recommend we join the Oil & Natural gas ISAC.  I will forward=20
information on NERC's process shortly - Pete

 Frequently Asked Questions

 WHO OWNS THE FS/ISAC?
 The FS/ISAC and the data in the FS/ISAC is owned by the members through th=
e=20
FS/ISAC, LLC
 (Limited Liability Corporation) created to manage the ISAC process for=20
Financial Services. The
 FS/ISAC is operated by Global Integrity Corporation, a wholly owned=20
subsidiary of SAIC.

 WHO ARE GLOBAL INTEGRITY AND SAIC? (Global Integrity is now owned by=20
Predictive SYstems Inc.)
 Global Integrity is an information security service provider to commercial=
=20
clients around the world. It
 provides a full complement of information protection, electronic commerce=
=20
security, consulting, and
 engineering services worldwide. Global Integrity Corporation is a wholly=
=20
owned subsidiary of SAIC
 (Science Application International Corporation), the largest employee owne=
d=20
research and engineering
 company in the US. Since 1969, SAIC scientist and engineers have worked to=
=20
solve complex technical
 problems in the healthcare, telecommunications, national security, financi=
al=20
services, transportation,
 energy, and the environment. With annual revenues approaching $5 billion,=
=20
SAIC and its subsidiaries
 have more than 38,000 employees in 150 cities worldwide.

 WHAT ARE THE MEMBERSHIP REQUIREMENTS?
 Membership is open to the following categories of US entities registered,=
=20
and in good standing, with
 their appropriate regulators:=20

      FDIC Insured Bank=20
      NASD Licensed investment firm=20
      Designated Financial Services exchanges and finance sector utilities=
=20
      Specialized US or State licensed banking companies=20
      US or State Licensed Insurance companies=20

Membership will be granted to an applicant only after third-party=20
verification is completed by the
 FS/ISAC, LLC.=20

 WHO HAVE ACCESS TO THE FS/ISAC?
 Financial Services companies who become members of the FS/ISAC, LLC.=20

 WHO ARE THE CURRENT MEMBERS?
 Anonymity of members is key to obtaining industry-wide cooperation. The=20
member list of the FS/ISAC
 has not and will not be released to anyone. Membership is strictly confine=
d=20
to eligible financial service
 applicants as defined by the FS/ISAC, LLC Board of Managers.=20

 HOW DOES MY COMPANY BECOME A MEMBER?
 Accessing all materials to become a member is easy. The enrollment process=
,=20
procedures,
 membership agreement, and eligibility form may be obtained from the FS/ISA=
C=01,
s web site,
 www.fsisac.com, or by calling our offices at (888) 660-0134.=20

 HOW MUCH DOES IT COST TO JOIN THE FS/ISAC?
 Membership fees range from $13,000 to $125,000 depending on the membership=
=20
level selected.=20

 HOW DOES THE FS/ISAC WORK?
 For the first time, information security professionals may anonymously sha=
re=20
in an industry wide
 database of electronic security threats, vulnerabilities, incidents and=20
solutions. Members voluntarily will
 report information to the database on either an anonymous or attributed=20
basis. Input will be analyzed
 by security specialists for potential solutions

20
 Since Banking and Finance is the first


Message-ID: <9478941.1075844909021.JavaMail.evans@thyme>
Date: Wed, 7 Feb 2001 09:51:00 -0800 (PST)
From: sara.shackleton@enron.com
To: schernick@bear.com
Subject: RE: enhanced stock loan
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Sara Shackleton
X-To: "Chernick, Sharon Confidential Memo-Counsel (Exchange)" <schernick@bear.com>@ENRON
X-cc:
X-bcc:
X-Folder: \Sara_Shackleton_Dec2000_June2001_2\Notes Folders\Sent
X-Origin: SHACKLETON-S
X-FileName: sshackle.nsf

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)
sara.shackleton@enron.com

	"Chernick, Sharon Confidential Memo-Counsel (Exchange)" <schernick@bear.com>
	02/07/2001 05:34 PM

		 To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>
		 cc:
		 Subject: RE: enhanced stock loan

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: Sara.Shackleton@enron.com [SMTP:Sara.Shackleton@enron.com]
> Sent: Wednesday, February 07, 2001 2:44 PM
> To: schernick@bear.com
> 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)
> sara.shackleton@enron.com
>
>
>
>
>                     "Chernick,
>
>                     Sharon               To:
> "'sara.shackleton@enron.com'" <sara.shackleton@enron.com>
>                     Confidential         cc:     "Talento, Scott
> (Exchange)" <STALENTO@bear.com>, "Miron, Russel
>                     Memo-Counsel         (Exchange)" <rmiron@bear.com>
>
>                     (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 St


Message-ID: <26630157.1075855666484.JavaMail.evans@thyme>
Date: Thu, 7 Dec 2000 01:09:00 -0800 (PST)
From: phillip.allen@enron.com
To: mike.grigsby@enron.com, keith.holst@enron.com, frank.ermis@enron.com
Subject: DJ Cal-ISO Pays $10M To Avoid Rolling Blackouts Wed -Sources, DJ
 Calif ISO, PUC Inspect Off-line Duke South Bay Pwr Plant, DJ Calif Regula
 tors Visit AES,Dynegy Off-Line Power Plants
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Phillip K Allen
X-To: Mike Grigsby, Keith Holst, Frank Ermis
X-cc:
X-bcc:
X-Folder: \Phillip_Allen_Dec2000\Notes Folders\All documents
X-Origin: Allen-P
X-FileName: pallen.nsf

---------------------- Forwarded by Phillip K Allen/HOU/ECT on 12/07/2000
09:08 AM ---------------------------

Jeff Richter
12/07/2000 06:31 AM
To: Phillip K Allen/HOU/ECT@ECT
cc:
Subject: DJ Cal-ISO Pays $10M To Avoid Rolling Blackouts Wed -Sources, DJ
Calif ISO, PUC Inspect Off-line Duke South Bay Pwr Plant, DJ Calif Regula
tors Visit AES,Dynegy Off-Line Power Plants

---------------------- Forwarded by Jeff Richter/HOU/ECT on 12/07/2000 08:38
AM ---------------------------

Carla Hoffman
12/07/2000 06:19 AM
To: Tim Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Phillip Platter/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT,
Diana Scholtes/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Matt
Motley/PDX/ECT@ECT, Mark Guzman/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Mark
Fischer/PDX/ECT@ECT, Monica Lande/PDX/ECT@ECT
cc:
Subject: DJ Cal-ISO Pays $10M To Avoid Rolling Blackouts Wed -Sources, DJ
Calif ISO, PUC Inspect Off-line Duke South Bay Pwr Plant, DJ Calif Regula
tors Visit AES,Dynegy Off-Line Power Plants

---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/07/2000 06:29
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     12/07/2000 06:11 AM

To: undisclosed-recipients:;
cc:
Subject: DJ Cal-ISO Pays $10M To Avoid Rolling Blackouts Wed -Sources, DJ
Calif ISO, PUC Inspect Off-line Duke South Bay Pwr Plant, DJ Calif Regula
tors Visit AES,Dynegy Off-Line Power Plants

13:18 GMT 7 December 2000 DJ Cal-ISO Pays $10M To Avoid Rolling Blackouts
Wed -Sources
(This article was originally published Wednesday)
LOS ANGELES (Dow Jones)--The California Independent System Operator paid
about $10 million Wednesday for 1,000 megawatts of power from Powerex and
still faced a massive deficit that threatened electricity reliability in the
state, high-ranking market sources familiar with the ISO's operation told
Dow Jones Newswires.
But the ISO fell short of ordering rolling blackouts Wednesday for the third
consecutive day.
The ISO wouldn't comment on the transactions, saying it is sensitive market
information. But sources said Powerex, a subsidiary of British Columbia
Hydro & Power Authority (X.BCH), is the only energy company in the Northwest
region with an abundant supply of electricity to spare and the ISO paid
about $900 a megawatt-hour from the early afternoon through the evening.
But that still wasn't enough juice.
The Los Angeles Department of Water and Power sold the ISO 1,200 megawatts
of power later in the day at the wholesale electricity price cap rate of
$250/MWh. The LADWP, which is not governed by the ISO, needs 3,800 megawatts
of power to serve its customers. It is free sell power instate above the
$250/MWh price cap.
The LADWP has been very vocal about the amount of power it has to spare. The
municipal utility has also reaped huge profits by selling its excess power
into the grid when supply is tight and prices are high. However, the LADWP
is named as a defendant in a civil lawsuit alleging price gouging. The suit
claims the LADWP sells some of its power it gets from the federal Bonneville
Power Administration, which sells hydropower at cheap rates, back into the
market at prices 10 times higher.
Powerex official

Mike Grigsby, Keith Holst, Frank Ermis
Phillip K Allen


Message-ID: <31256909.1075844054632.JavaMail.evans@thyme>
Date: Fri, 22 Sep 2000 12:28:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all.houston@enron.com
Subject: Enron In Action 09.25.00
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Enron Announcements
X-To: All Enron Houston
X-cc:
X-bcc:
X-Folder: \Michelle_Lokay_Dec2000_June2001_1\Notes Folders\Corporate
X-Origin: LOKAY-M
X-FileName: mlokay.nsf

Chairman's Award Last Chance to Nominate Your Everyday Hero!  Make sure
someone you appreciate at work receives the recognition
 they deserve for their daily demonstration of our values...Respect,
Integrity, Communication and Excellence.  You can
 check out business unit nomination statistics or download a nomination form
at http://home.enron.com/.  You can
 also visit our table at the Big E Cafe this Friday.  NOMINATIONS CLOSE
OCTOBER 1st!!!

Race for the Cure!  Enron is gearing up for the Komen Race for the Cure on
October 7.  If you would like to participate, please contact
 Alice Hritz at 713-345-5543 or visit:http://home.enron.com:84/erc/index.htm

Big E Cafe! Celebrate Hispanic Heritage Month in Antioch Park this Friday,
September 29th!  Get lunch for $5 catered by
 Escalantes Mexican Grille, which includes beef, chicken or vegetarians
fajitas, rice & beans, chips & salsa, churros
 for dessert and iced tea.  Enjoy the sunshine and the music of Batacha,
featuring musicians from Cuba, Puerto Rico,
 and the Dominican Republic, at the Big E Cafe!  Listen for their sound byte
on ETV!

Last Chance to Join It's time again for the annual Museum of Fine Arts
membership drive!  Enron is subsidizing half of your membership
MFA! cost.  Contact Connie Castillo at 713-646-6054 or click on
http://home.enron.com:84/messaging/membership.doc.

Houston Cougar  Discounted tickets are now available for purchase through the
Signature Shop for the three remaining Houston
Football Cougar home football games.  Tickets come in sets of two or four
tickets for only $14 per ticket.
 Click here for tickets or more information, or contact Greg Grissom at ext.
58741.

Houston Ballet Enjoy the magnificent Houston Ballet for a fraction of the
price with the great Corporate Corps Program!
Membership Enroll in the one-year membership program and on the day of the
performance, you can purchase up to four
 available seats for only $11.50 each.  Contact the Houston Ballet at
713-535-3235 for more information.

Financial Wellness Join Enron Federal Credit Union and the Foundation for
Financial Literacy for the fourth in a series of five Financial
Workshop Series Wellness Workshops. Rating Them by Risk Versus Rewards:
Investments will be held on September 27, at the
 Doubletree - Allen Center from 11:30 a.m. - 12:30 p.m.  For more
information, visit http://home.enron.com/efcu
 or e-mail your reservation to jennifer.wilson@enron.com.

Star of Hope   The Enron Running Club will be collecting retired t-shirts and
running shoes during the month of September to benefit
T-Shirt & Running  the Star of Hope Mission.  To make a donation, please
contact Cindy Richardson at 713-853-4770 or run to
Shoe Drive http://home.enron.com:84/erc/index.htm

Sunshine Kids Day It's Astroworld time again for the Sunshine Kids!  Enron
will be hosting more than 100 kids on Saturday, October 28 at
at Astroworld Astroworld.  The Sunshine Kids organization is dedicated to
providing activities for children with cancer, and volunteers
 are needed to accompany the kids throughout the day.  Please join Mark
Koenig for a very rewarding and meaningful day
 with the Sunshine Kids.  To volunteer, please call 3-6021, or join us at the
Big E Cafe this Friday for more information.

October is National   The Texas Gulf Coast Chapter of the Lupus Foundation is
seeking walkers, volunteers, and/or contributors for the
Lupus Awareness  "Many Faces of Lupus Walk" on October 21.  Come help raise

4981 or visit
 the Transportation and Parking desk on the 3rd


Message-ID: <1145435.1075840648195.JavaMail.evans@thyme>
Date: Tue, 12 Dec 2000 22:21:00 -0800 (PST)
From: carla.hoffman@enron.com
To: tim.belden@enron.com, robert.badeer@enron.com, jeff.richter@enron.com,
	phillip.platter@enron.com, mike.swerzbin@enron.com,
	diana.scholtes@enron.com, sean.crandall@enron.com,
	matt.motley@enron.com, mark.guzman@enron.com, tom.alonso@enron.com,
	mark.fischer@enron.com, jesse.bryson@enron.com
Subject: DJ Edison To Call For End To Calif Elec Dereg Wed -Sources, DJ Ca
 lif PUC Proposes To Let Utilities Out of CalPX
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Carla Hoffman
X-To: Tim Belden, Robert Badeer, Jeff Richter, Phillip Platter, Mike Swerzbin, Diana Scholtes, Sean Crandall, Matt Motley, Mark Guzman, Tom Alonso, Mark Fischer, Jesse Bryson
X-cc:
X-bcc:
X-Folder: \mark guzman 6-28-02\Notes Folders\Discussion threads
X-Origin: GUZMAN-M
X-FileName: mark guzman 6-28-02.nsf

---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/13/2000 06:29
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     12/13/2000 06:24 AM

To: undisclosed-recipients:;
cc:
Subject: DJ Edison To Call For End To Calif Elec Dereg Wed -Sources, DJ Ca
lif PUC Proposes To Let Utilities Out of CalPX

13:16 GMT 13 December 2000 =DJ Edison To Call For End To Calif Elec Dereg
Wed -Sources
(This article was originally published Tuesday)

   By Jason Leopold
   Of DOW JONES NEWSWIRES

LOS ANGELES (Dow Jones)--Edison International (EIX), saying the current
state of California's power markets threatens the company with bankruptcy,
will call Wednesday for an end to California's four-year experiment with
deregulation, sources familiar with the issue told Dow Jones Newswires.
John Bryson, chief executive of Edison International, is expected to
announce that the company's regulated utility unit, Southern California
Edison, won't be able to recover more than $3 billion in losses related to
power purchases and continue serving its retail customers unless the state's
deregulated market structure is scrapped.
In a move tantamount to a call for reregulation, Edison will propose to
break ground on new power plants within 90 days and re-enter the
power-generation business Southern California Edison was required to exit
under the state's landmark 1996 deregulation law, the sources said.
Edison plans to follow the announcement by filing a request with state
regulators to increase retail electricity rates by as much as 20%, the
sources said, even though regulators rejected Edison's request for a rate
increase of 10% last week.
The utility has lined up the support of some state lawmakers for the broader
proposal, which would require action by the state legislature, the sources
said.
Southern California Edison, with 4.2 million customers, is one of the
country's largest electric utilities. Edison was the first of the state's
utilities to sign on to the deregulation effort and, as it says on its Web
site, "played a central role in the restructuring of the electric industry
in California."
Among the concessions won by utilities in 1996 is the rate freeze, which
they demanded to help them recover costs related to deregulation but which
is now producing huge losses.
Edison's current losses stem from an imbalance between the soaring prices it
must pay to purchase power on the wholesale markets and the fixed rate at
which it can sell power to its customers.
About half of those losses are offset the utility's own power sales
revenues, which are accounted for separately and used to pay down
deregulation-related debt. Rising power costs have produced a surplus in
that account. Edison wouldn't reveal the current size of the surplus, but
said previously that the California Power Exchange paid the utility $1.3
billion over its generating costs for power through the end of September

1 billion line of
credit and expects to have


Message-ID: <14923780.1075863600419.JavaMail.evans@thyme>
Date: Thu, 17 Aug 2000 03:25:00 -0700 (PDT)
From: robert.badeer@enron.com
To: tim.belden@enron.com
Subject: DJ Calif Generators: `We Welcome Probe Into Power Market' - DJ Ca
	lif ISO Urges FERC To Reject Pwr Producers' Complaint
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Robert Badeer
X-To: Tim Belden
X-cc:
X-bcc:
X-Folder: \Robert_Badeer_Aug2000\Notes Folders\Discussion threads
X-Origin: Badeer-R
X-FileName: rbadeer.nsf

---------------------- Forwarded by Robert Badeer/HOU/ECT on 08/17/2000 10:28
AM ---------------------------

Carla Hoffman
08/16/2000 09:09 AM
To: Tim Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Phillip Platter/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT,
Diana Scholtes/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Matt
Motley/PDX/ECT@ECT, Mark Guzman/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Mark
Fischer/PDX/ECT@ECT
cc:
Subject: DJ Calif Generators: `We Welcome Probe Into Power Market' - DJ Ca
lif ISO Urges FERC To Reject Pwr Producers' Complaint

---------------------- Forwarded by Carla Hoffman/PDX/ECT on 08/16/2000 09:16
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     08/16/2000 06:11 AM

To: "Golden, Mark" <Mark.Golden@dowjones.com>
cc:  (bcc: Carla Hoffman/PDX/ECT)
Subject: DJ Calif Generators: `We Welcome Probe Into Power Market' - DJ Ca
lif ISO Urges FERC To Reject Pwr Producers' Complaint

12:15 GMT 16 August 2000
=DJ Calif Generators: `We Welcome Probe Into Power Market'  (This article
was originally published Tuesday)       By Jason Leopold     OF DOW JONES
NEWSWIRES    LOS ANGELES (Dow Jones)--When California Attorney General Bill
Lockyer completes his investigation into possible "collusion" in the
wholesale electricity market by generators, energy companies say he will
probably find the same thing Geraldo Rivera found in Al Capone's safe:
nothing.  Still, those companies that own generation in the state say they
welcome the probe into the power market by Attorney General Bill Lockyer.
"We have done nothing wrong at all," said Tom Williams, spokesman for Duke
Energy North America (DUK). "Our plants have been running all summer long.
Prices are high throughout the west. We wouldn't invest $1.7 billion in new
generation and then try and rig the market."  For the past two months,
utilities, lawmakers and other market participants have made allegations
that generators are manipulating the market and are largely responsible for
the price spikes.  Locker's office said an investigation is still pending.
State regulators are also conducting their own investigation, the findings
of which will be submitted to the governor and the Federal Energy Regulatory
Commission by the end of the year.  Allegations Said Unsubstantiated  There
isn't a shred of evidence to support allegations, said Severing Borenstein,
director of the University of California, Berkley's, Energy Institute.
"There are no antitrust laws that state you can't charge a premium price for
power," Borenstein said. "Manipulation is a bad word. That's used in the
commodities market to find a loophole and take advantage of the rules.  "I
would say this is exercising market power. ... If you want to charge high
prices you can. These are guys who play against each other every day. There
is no sort of collusion that would interest the justice department ... ."
The reason for the inquiry ordered By Gov. Gray Davis, he said, is as a
consequence of San Diego consumers being the first in the nation to pay
market-based rates for electricity.  The high wholesale costs paid by
utility San Diego Gas & Electric, a unit of Sempra Energy (SRE), were passed
on to ratepayers and resulted in utility bills more than doubling.  Gov.
Davis ordered the inquiry and asked federal regulators to conduct their own
inve

15 GMT 16 August 2000 DJ Calif ISO Urges FERC To Reject


Message-ID: <9003831.1075849297998.JavaMail.evans@thyme>
Date: Thu, 5 Jul 2001 07:14:00 -0700 (PDT)
From: donna.fulton@enron.com
To: alan.comnes@enron.com, susan.mara@enron.com, ray.alvarez@enron.com,
	robert.frank@enron.com, sarah.novosel@enron.com,
	jeff.dasovich@enron.com, paul.kaufman@enron.com,
	james.steffes@enron.com
Subject: Article about the FERC Judge comments
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
X-From: Donna Fulton
X-To: Alan Comnes, Susan J Mara, Ray Alvarez, Robert Frank, Sarah Novosel, Jeff Dasovich, Paul Kaufman, James D Steffes
X-cc:
X-bcc:
X-Folder: \Jeff_Dasovich_Oct2001\Notes Folders\All documents
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

	To see what Morningstar analysts are saying about the latest news, click
here.?

	If you have questions or comments about this topic, check out our message
boards.?

FERC Judge Rips Calif, Generators; Demands Sales Data

		06-29-01??06:05 PM EST ??by?Bryan Lee ??|?Of DOW JONES NEWSWIRES
		WASHINGTON -(Dow Jones)- The U.S. Federal Energy Regulatory Commission judge
overseeing settlement talks between California and power sellers ripped into
both sides Friday in an effort to spur progress in the moribund negotiations,
according to sources.
		"It's fair to say that everybody got their rap on the knuckles," said one
source.
		Curtis Wagner, FERC's chief administrative law judge, read a statement during
the confidential settlement negotiations dressing down California regulators
and market institutions for a lack of political independence.
		Wagner, in what one source described as a "tirade," complained that the
California Independent System Operator's politically appointed board, headed
by Michael Kahn, lacks necessary independence as a market institution.
		Further, Wagner complained that the California Public Utilities Commission
and investor-owned utilities in the state were deferring too much to the
politically compromised Kahn in negotiations.
		The lack of independence was such a "joke" that the parties might as well
wear "clown suits," Wagner said, according to those familiar with his
comments.
		However, Wagner didn't spare the power providers from strong criticism.
		He took generators to task for exercising market power and deriving obscene
profits, the sources said.
		Sources described the incident as perhaps a ploy by Wagner to jump-start the
fast-track settlement talks, scheduled to conclude July 9.
		California Gov. Gray Davis is demanding nearly $9 billion in refunds for
power sales in California during the past year.
		As the negotiations got underway Monday, Wagner dismissed that amount as too
high, suggesting a more reasonable figure of between $1 billion to $2.5
billion. However, California ISO Chairman Kahn has held fast to Davis' demand
for $9 billion.
		Wagner instructed the negotiating parties to work during the weekend to
develop concrete figures on power sales, revenue, costs and proposed refund
amounts for his consideration on Monday, according to the sources.
		-By Bryan Lee, Dow Jones Newswires; 202-862-6647; Bryan.Lee@dowjones.com
		(This story was originally published by Dow Jones Newswires)
		?


Message-ID: <31108395.1075843428048.JavaMail.evans@thyme>
Date: Fri, 13 Apr 2001 08:36:00 -0700 (PDT)
From: alan.comnes@enron.com
To: christian.yoder@enron.com, jeff.richter@enron.com, paul.kaufman@enron.com,
	james.steffes@enron.com, ray.alvarez@enron.com, steve.hall@enron.com,
	christopher.calger@enron.com, jeff.dasovich@enron.com,
	susan.mara@enron.com, jalexander@gibbs-bruns.com
Subject: Re: *****Information required by FERC, Docket No. EL00-95-027, et
	al.
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
X-From: Alan Comnes
X-To: Christian Yoder, Jeff Richter, Paul Kaufman, James D Steffes, Ray Alvarez, Steve C Hall, Christopher F Calger, Jeff Dasovich, Susan J Mara, "Jeffrey C. Alexander" <Jalexander@Gibbs-Bruns.com>
X-cc:
X-bcc:
X-Folder: \Jeff_Dasovich_June2001\Notes Folders\All documents
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

Context of today's data request (2 articles):

US FERC To Compile Data On Calif DWR Power Contracts

04/13/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- The U.S. Federal Energy Regulatory Commission issued
an order late Thursday requiring 49 electricity providers to file information
regarding contracts they have entered into with the California Department of
Water Resources.
The information, due by the close of business Monday, is being compiled on
behalf of the House Government Reform Committee, which held hearings in
California this week as part of its oversight investigation into the state's
electricity-supply crisis.
Rep. Dan Burton, R-Ind., the committee's chairman, requested the information
from FERC to determine whether the commission's order Dec. 15 designed to
move the state away from reliance on volatile spot markets for power supplies
and into lower-cost long-term contracts has been effective.
The state water department has been purchasing power for months on behalf of
the state's two financially troubled utilities, spending more than $4 billion
at a rate of $50 million daily.
Edison International unit Southern California Edison (EIX) and PG&E Corp.
unit Pacific Gas & Electric Co. have amassed more than $13 billion in
liabilities, because state-regulated retail rates don't allow them to pass
through high-cost wholesale power purchases.
PG&E filed for Chapter 11 bankruptcy protection on behalf of its utility unit
a week ago. Monday, Edison entered into an agreement to sell the state its
transmission lines in a bid to restore financial solvency.
FERC's order Thursday requests information from 49 power suppliers on both
short- and long-term contracts they may have entered into with the department
since Dec. 15. FERC said it will treat the information as confidential,
unless the supplier states otherwise.
One Democratic official in Washington suggested the House panel is engaged in
a partisan "bashing" effort targeting California Gov. Gray Davis, who has
widely been touted as a presidential prospect for the 2004 election.
Davis spokesman Steven Maviglio supported the official's assessment.
"What a shock! Dan Burton is at it again," Maviglio said facetiously of
Burton, who derived a reputation as a partisan foe of former U.S. President
Bill Clinton with his many investigations into Clinton and his
administration.
"The bottom line is they're aiding and abetting the generators," Maviglio
said of Burton's committee.
The governor's spokesman also questioned whether the information FERC amasses
under seal of confidentiality will remain private once turned over to the
committee.
The committee's offices were closed Friday, so no response was immediately
available.
-By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com

..............................................................................
.......................................................
?

Congressional Committee Members Question California Utility Off


Message-ID: <31888032.1075849421831.JavaMail.evans@thyme>
Date: Fri, 29 Jun 2001 03:04:00 -0700 (PDT)
From: miyung.buster@enron.com
To: ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,
	filuntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,
	jeannie.mandelker@enron.com, jeff.dasovich@enron.com,
	joe.hartsoe@enron.com, john.neslage@enron.com,
	john.sherriff@enron.com, joseph.alamo@enron.com,
	karen.denne@enron.com, mark.palmer@enron.com,
	mark.schroeder@enron.com, markus.fiala@enron.com,
	michael.brown@enron.com, mona.petrochko@enron.com,
	nicholas.o'day@enron.com, peggy.mahoney@enron.com,
	peter.styles@enron.com, richard.shapiro@enron.com,
	rob.bradley@enron.com, shelley.corman@enron.com,
	stella.chan@enron.com, steven.kean@enron.com, susan.mara@enron.com,
	mike.roan@enron.com, alex.parsons@enron.com,
	andrew.morrison@enron.com, lipsen@cisco.com,
	janel.guerrero@enron.com, shirley.hudler@enron.com,
	kathleen.sullivan@enron.com, tom.briggs@enron.com,
	linda.robertson@enron.com, lora.sullivan@enron.com,
	jennifer.thome@enron.com, jkradin@marathon-com.com,
	rlichtenstein@marathon-com.com, syamane@marathon-com.com,
	ken@kdscommunications.com, hgovenar@govadv.com, sgovenar@govadv.com,
	bhansen@lhom.com, carin.nersesian@enron.com,
	robert.neustaedter@enron.com, john.shelk@enron.com,
	chris.holmes@enron.com, evan.hughes@enron.com,
	roberta.staehlin@enron.com, lamar.frazier@enron.com,
	ban.sharma@enron.com, pat.shortridge@enron.com,
	karen.moore@enron.com, kurt.lindahl@enron.com,
	marcus.dotson@enron.com, alan.comnes@enron.com,
	melinda.pharms@enron.com, lysa.akin@enron.com
Subject: Energy Issues
Cc: angela.wilson@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
Bcc: angela.wilson@enron.com
X-From: Miyung Buster
X-To: Ann M Schmidt, Bryan Seyfried, Elizabeth Linnell, filuntz@aol.com, James D Steffes, Janet Butler, Jeannie Mandelker, Jeff Dasovich, Joe Hartsoe, John Neslage, John Sherriff, Joseph Alamo, Karen Denne, Mark Palmer, Mark Schroeder, Markus Fiala, Michael R Brown, Mona L Petrochko, Nicholas O'Day, Peggy Mahoney, Peter Styles, Richard Shapiro, Rob Bradley, Shelley Corman, Stella Chan, Steven J Kean, Susan J Mara, Mike Roan, Alex Parsons, Andrew Morrison, lipsen@cisco.com, Janel Guerrero, Shirley A Hudler, Kathleen Sullivan, Tom Briggs, Linda Robertson, Lora Sullivan, Jennifer Thome, jkradin@marathon-com.com, rlichtenstein@marathon-com.com, syamane@marathon-com.com, ken@kdscommunications.com, hgovenar@govadv.com, sgovenar@govadv.com, bhansen@lhom.com, Carin Nersesian, Robert Neustaedter, John Shelk, Chris Holmes, Evan Hughes, Roberta Staehlin, Lamar Frazier, Ban Sharma, Pat Shortridge, Karen Moore, Kurt Lindahl, Marcus Dotson, Alan Comnes, Melinda Pharms, Lysa Akin
X-cc: Angela Wilson
X-bcc:
X-Folder: \Jeff_Dasovich_Oct2001\Notes Folders\Notes inbox
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

Please see the following articles:

Sac Bee, Fri, 6/29: Power firms held in contempt    (Enron mentioned)

Sac Bee, Fri, 6/29: Edison's parent gets new cash

Sac Bee, Fri, 6/29: Refineries exempt from power cuts=20

SD Union, Thurs, 6/28: Enron, Mirant cited for contempt by Senate committee

SD Union, Thurs, 6/28: Secretary of State accuses governor of failing state=
=20
in energy crisis

LA Times, Fri, 6/29: Congress Reacts Sluggishly to Bush's Energy Proposals

LA Times, Fri, 6/29: Senate Panel Lashes Out at 2 Energy Firms

SF Chron (AP), Fri, 6/29: California Senate committee cites power companies=
=20
for contempt
for withholding documents

SF Chron (AP), Fri, 6/29: California oil refineries exempt from rolling=20
blackouts

SF Chron, Fri, 6/29: Conservation funds restored to energy legislation by B=
ush

SF Chron, Fri, 6/29: Refineries exempt from blackouts=20
Oil firms' support services also shielded

Mercury News, Fri, 6/29: Officials criticize energy report

Mercury News, Fri, 6/29: Extra `

20
point higher than Edison expected last


Message-ID: <20992911.1075845917553.JavaMail.evans@thyme>
Date: Thu, 19 Apr 2001 16:42:00 -0700 (PDT)
From: ccampbell@kslaw.com
To: kay.mann@enron.com
Subject: FW: ENA Letter
Cc: jkeffer@kslaw.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: jkeffer@kslaw.com
X-From: "Campbell, Carolyn" <CCampbell@KSLAW.com>
X-To: "'kay.mann@enron.com'" <kay.mann@enron.com>
X-cc: "Keffer, John" <JKeffer@KSLAW.com>
X-bcc:
X-Folder: \Kay_Mann_June2001_3\Notes Folders\Panda
X-Origin: MANN-K
X-FileName: kmann.nsf

Kay:

See Greg's e-mail below.  Attached is a re-draft of the "no objection to
forms" letter.  I have not yet furnished the re-draft to Greg.  Please
review and advise of any comments.  Thanks.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
 <mailto:ccampbell@kslaw.com> ccampbell@kslaw.com

Enclosure:    140366v4

-----Original Message-----
From: Lang, Gregory F. [mailto:gregorylang@paulhastings.com]
Sent: Thursday, April 19, 2001 8:58 PM
To: 'ccampbell@kslaw.com'
Subject: ENA Letter

Carolyn- I discussed the issue re the ENA letter with the lenders and they
can live with the delivery of a letter attaching the forms with the "no
objection" and "no act in furtherance of frustration" language we discussed
with Kay.  We also need to make sure a mechanism in place that ensures that
upon Pegasus' payment of the $800 on the morning of the transaction closing
(post-Turbine K execution and pre-escrow release), ENA will deliver the
membership interest in Salmon and any other deliverable required to allow
the Delta/Pegasus slate of officers to be installed to execute the Salmon
Note and the Salmon Security Agreement. I suppose this can be effected in
that escrow control letter that Freshfields is drafting that ENA and the
lenders will sign.

Do you want to redraft your letter or would you prefer us to mark it up. Let
me know.

Greg

Gregory F. Lang
Paul, Hastings, Janofsky & Walker LLP
1055 Washington Blvd.
Stamford, CT 06901

203.961.7446 (p)
203.674.7646 (direct fax)
203.359.3031 (firm fax)
gregorylang@paulhastings.com <mailto:gregorylang@paulhastings.com>

"paulhastings.com" made the following annotations on 04/19/01 21:57:48
----------------------------------------------------------------------------
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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
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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.

 - ENA Ltr to Delta Lender re Form of Agmt.DOC


Message-ID: <20975411.1075840253448.JavaMail.evans@thyme>
Date: Tue, 5 Dec 2000 02:05:00 -0800 (PST)
From: peter.blackmore@compaq.com
To: babbio@verizon.com, lynnj@iname.com, ted.enloe@compaq.com, ghh@telcordia.com,
	klay@enron.com, kjewett@kpcb.com, kenroman@worldnet.att.net,
	lucie@jhmedia.com
Subject: November Blackmore Report
Cc: michael.capellas@compaq.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: michael.capellas@compaq.com
X-From: "Blackmore, Peter" <Peter.Blackmore@COMPAQ.com>
X-To: "'babbio@verizon.com'" <babbio@verizon.com>, "'lynnj@iname.com'" <lynnj@iname.com>, "Enloe, Ted" <Ted.Enloe@COMPAQ.com>, "'ghh@telcordia.com'" <ghh@telcordia.com>, "'klay@enron.com'" <klay@enron.com>, "'kjewett@kpcb.com'" <kjewett@kpcb.com>, "'kenroman@worldnet.att.net'" <kenroman@worldnet.att.net>, "'lucie@jhmedia.com'" <lucie@jhmedia.com>
X-cc: "Capellas, Michael D." <Michael.Capellas@COMPAQ.com>
X-bcc:
X-Folder: \Kenneth_Lay_Dec2000\Notes Folders\Discussion threads
X-Origin: LAY-K
X-FileName: klay.nsf

Pleased to send you the November report. Obviously the market is weakening
in North America which is making the quarter challenging but the underlying
momentum of the company continues to improve as the report illustrates.
Look forward to seeing you at the Board meeting.

Regards,
Peter

> [Compaq Confidential - Internal Use Only]
>
> To:  Global Sales & Services Team
>
> Before I report on the great wins and other news this month, I want to
> express a personal note about the organizational announcement earlier this
> month.  I'm excited about the changes for all the reasons already
> communicated - in particular strengthening the integration of our upstream
> and downstream operations.  I'm also excited about Bo McBee and his
> worldwide team in Corporate Quality and Customer Satisfaction officially
> joining our organization.  He and his team are doing a great job, and
> together we will further our efforts to become the leader throughout the
> world in satisfying our customers.
>
> Most of all, I am extremely pleased and encouraged because I believe these
> changes confirm the great work you have accomplished this year.  We've
> already reported a number of major wins as a result of the joint efforts
> by our Sales and Services teams.  There is an air of excitement and
> anticipation about Compaq's momentum - I see it in the emails from many of
> you and as I meet with our teams and customers around the world.  You're a
> remarkable team and, as Michael puts it, let's keep the pedal to the metal
> and keep the momentum strong as we work to successfully close 2000!
>
> Speaking of my travels...
> This month I visited Johannesburg, South Africa, Dubai within the United
> Arab Emirates, and Saudi Arabia.  All of these countries are part of
> EMEA's Business Development Group (BDG), which is responsible for
> developing Compaq business in 98 countries. The group is focused on both
> developed and emerging markets in Eastern Europe, the Middle East and
> Africa. Over the past six years, BDG has grown its revenue more than
> 10-fold.
>
> In South Africa I visited Vodacom, which with 4 million subscribers, is
> Africa's largest mobile phone network operator.  The company has just
> upgraded its billing systems to handle further expansion, and to date is
> one of the world's largest Wildfire installations with some 21 AlphaServer
> GS systems.  I also spent time with the management of Mobile Telephone
> Networks (MTN), South Africa's #2 cellphone operator and another big
> Wildfire customer.  In fact, we just got word that they've placed a $10M
> order for four GS320 AlphaServer systems and storage.
>
> One of my more interesting activities while there was learning more about
> Ikageng, a Compaq-led initiative to bring the benefits of the information
> age to the rural communities of Africa.  Ikageng brings together the
> provision of safe drinking water, affordable healthcare, dista

2001 under way
25 countries with the highest


Message-ID: <12611436.1075856408990.JavaMail.evans@thyme>
Date: Tue, 13 Mar 2001 03:30:00 -0800 (PST)
From: jgsmnews@rice.edu
To: jgsmnews@rice.edu
Subject: @Jones: News and Information from the Jones School
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: "JGSMNews" <JGSMNews@rice.edu>
X-To: "jones news" <JGSMNews@rice.edu>
X-cc:
X-bcc:
X-Folder: \Vincent_Kaminski_Jun2001_2\Notes Folders\Discussion threads
X-Origin: Kaminski-V
X-FileName: vkamins.nsf

@Jones: News and Information from the Jones School
March 13, 2001

Forbes Magazine Survey
Alumni Association Reception -- New York: March 15
Conference -- Perspectives on Women in Business: March 16
Southwest Business Plan Competition -- March 30-31
Rice Alliance Business Presentation Forum -- March 30
Cancelled -- Neuhaus Lecture: March 19
Dean's Lecture -- Ralph Eads, Executive Vice President, El Paso Corp.: Apri=
l
11
Black Leadership Conference: April 27
Prof. Stephen Zeff Publishes New Book on Henry Rand Hatfield, Accounting
Historian
Rice Alliance Continues Expansion of Network, Enhances Services
Jones School Campaign
Visit Construction Site

-----------------------
Announcement
-----------------------

If those of you in the class of 1996 haven't received the Forbes magazine
survey, please do fill it out when it comes. Forbes is looking at  return o=
n
investment.  Your names and addresses will not be used for any other purpos=
e
beyond this one -page questionnaire and your responses will remain
confidential. As you know, rankings are influenced by the percentage of the
class which returns the survey. This is true for all rankings. We greatly
appreciate your taking your time to do this and thank you for supporting th=
e
Jones School.

-----------------------
News
-----------------------

The Jones Graduate School Alumni Association will host a Dean's Reception o=
n
Thursday, March 15, in New York City. You and your guest are invited to joi=
n
Gil Whitaker, Dean and Professor of Business Economics, for cocktails and
hors d=01,oeuvres from 6 to 8 p.m. on March 15 at the 50th floor, J.P. Morg=
an
Chase & Co. building, 270 Park Avenue, New York, NY.  Please RSVP to Deanna
Sheaffer, Director of Finance and Alumni Affairs, at sheaffer@rice.edu or
713-348-6222.

Managers and business owners will address issues related to women in
leadership in the March 16 conference "Grace Under Pressure: Perspectives o=
n
Women in Leadership" in Herring Hall. The conference, sponsored by Enron
Corp., J.P. Morgan Chase & Co., and the Jones School, will feature keynote
speaker Helen Vollmer, Chief Executive Officer of Vollmer, a Houston-based
public relations firm, along with a panel of prominent women leaders.
Panelists include: Dr. Judith Craven, retired President of the Texas Gulf
Coast United Way; Monika Drake, Assistant Director of Career Planning, Jone=
s
School; Marla Hutchison, Principal, Deloitte Consulting; Christie Patrick,
Vice President, Public Affairs, Enron Corp.; and Bette Wickline, Director,
Women=01,s Business Initiative, J.P. Morgan Chase & Co.
http://jonesgsm.rice.edu/content/content.cfm?PageID=3D104&AnnounID=3D127.

The March 19 Neuhaus Lecture featuring C.K. Prahalad, Harvey C. Fruehauf
Professor of Business Administration, University of Michigan Graduate Schoo=
l
of Business Administration, Ann Arbor, has been cancelled. It will be
rescheduled at a later date.

The Jones School and the Rice Alliance will welcome aspiring entrepreneurs
at the first Southwest Business Plan Competition, scheduled for March 30-31=
,
at Herring Hall. Nine teams from schools in the southwest region of the U.S=
.
will compete for the opportunity to enter the international MOOT CORPc
Competition held each year at the University of Texas, Austin.
http://www.alliance.rice.edu/swbpc/

The Rice Alliance hosts the second annual Business Plan Presentation Forum
from 9 a.m. to 1:30 p.m. on Saturday, March 31, Duncan Hall. The forum i


Message-ID: <15533958.1075849289806.JavaMail.evans@thyme>
Date: Wed, 27 Jun 2001 03:47:00 -0700 (PDT)
From: miyung.buster@enron.com
To: ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,
	filuntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,
	jeannie.mandelker@enron.com, jeff.dasovich@enron.com,
	joe.hartsoe@enron.com, john.neslage@enron.com,
	john.sherriff@enron.com, joseph.alamo@enron.com,
	karen.denne@enron.com, mark.palmer@enron.com,
	mark.schroeder@enron.com, markus.fiala@enron.com,
	michael.brown@enron.com, mona.petrochko@enron.com,
	nicholas.o'day@enron.com, peggy.mahoney@enron.com,
	peter.styles@enron.com, richard.shapiro@enron.com,
	rob.bradley@enron.com, shelley.corman@enron.com,
	stella.chan@enron.com, steven.kean@enron.com, susan.mara@enron.com,
	mike.roan@enron.com, alex.parsons@enron.com,
	andrew.morrison@enron.com, lipsen@cisco.com,
	janel.guerrero@enron.com, shirley.hudler@enron.com,
	kathleen.sullivan@enron.com, tom.briggs@enron.com,
	linda.robertson@enron.com, lora.sullivan@enron.com,
	jennifer.thome@enron.com, jkradin@marathon-com.com,
	rlichtenstein@marathon-com.com, syamane@marathon-com.com,
	ken@kdscommunications.com, hgovenar@govadv.com, sgovenar@govadv.com,
	bhansen@lhom.com, carin.nersesian@enron.com,
	robert.neustaedter@enron.com, john.shelk@enron.com,
	chris.holmes@enron.com, evan.hughes@enron.com,
	roberta.staehlin@enron.com, lamar.frazier@enron.com,
	ban.sharma@enron.com, pat.shortridge@enron.com,
	karen.moore@enron.com, kurt.lindahl@enron.com,
	marcus.dotson@enron.com, alan.comnes@enron.com,
	melinda.pharms@enron.com, lysa.akin@enron.com
Subject: Energy Issues
Cc: angela.wilson@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
Bcc: angela.wilson@enron.com
X-From: Miyung Buster
X-To: Ann M Schmidt, Bryan Seyfried, Elizabeth Linnell, filuntz@aol.com, James D Steffes, Janet Butler, Jeannie Mandelker, Jeff Dasovich, Joe Hartsoe, John Neslage, John Sherriff, Joseph Alamo, Karen Denne, Mark Palmer, Mark Schroeder, Markus Fiala, Michael R Brown, Mona L Petrochko, Nicholas O'Day, Peggy Mahoney, Peter Styles, Richard Shapiro, Rob Bradley, Shelley Corman, Stella Chan, Steven J Kean, Susan J Mara, Mike Roan, Alex Parsons, Andrew Morrison, lipsen@cisco.com, Janel Guerrero, Shirley A Hudler, Kathleen Sullivan, Tom Briggs, Linda Robertson, Lora Sullivan, Jennifer Thome, jkradin@marathon-com.com, rlichtenstein@marathon-com.com, syamane@marathon-com.com, ken@kdscommunications.com, hgovenar@govadv.com, sgovenar@govadv.com, bhansen@lhom.com, Carin Nersesian, Robert Neustaedter, John Shelk, Chris Holmes, Evan Hughes, Roberta Staehlin, Lamar Frazier, Ban Sharma, Pat Shortridge, Karen Moore, Kurt Lindahl, Marcus Dotson, Alan Comnes, Melinda Pharms, Lysa Akin
X-cc: Angela Wilson
X-bcc:
X-Folder: \Jeff_Dasovich_Oct2001\Notes Folders\All documents
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

Please see the following articles:

Sac Bee, Wed, 6/27:  Here's a switch: Generator praised for pricing,
efficiency

Sac Bee, Wed, 6/27: PG&E given OK for cleanups

SD Union, Wed, 6/27: State gets $4.3 billion loan to buy energy

SD Union, Wed, 6/27: New border plants will take toll on air quality

LA Times, Wed, 6/27: New Plant to Generate Electricity--and Hope

LA Times, Wed, 6/27: Edison Delays Sale of $1.2 Billion in Bonds

LA Times, Wed, 6/27: Union Seeks to Return to Reliant Power Plant

LA Times, Wed, 6/27: Retired PG&E Executives Seek Full Pensions in Bankruptcy
Case

SF Chron, Wed, 6/27: 600-megawatt plant OKd in San Jose council reversal

SF Chron, Wed, 6/27: California to justify its claim of $9 billion in
overcharges

SF Chron, Wed, 6/27:  Cheaper electricity won't trim bills
Rate increase to pay off big state debts takes effect next month

SF Chron, Wed, 6/27: Duke buys ads to deny claim of workers
Firm not allowed to speak at hearing

SF Chron, Wed, 6/27: News briefs on California's power

500 megawatts of power from Los Angeles at cost.

payment million billion settlement compensation


Message-ID: <12103277.1075859790102.JavaMail.evans@thyme>
Date: Fri, 9 Mar 2001 04:11:00 -0800 (PST)
From: smarra@isda.org
To: tmorita@isda.org, rainslie@isda.org, yoshitaka_akamatsu@btm.co.jp,
	shigeru_asai@sanwabank.co.jp, kbailey2@exchange.ml.com,
	douglas.bongartz-renaud@nl.abnamro.com, brickell_mark@jpmorgan.com,
	henning.bruttel@dresdner-bank.com, sebastien.cahen@socgen.com,
	scarey@isda.org, jcohn@cravath.com, mcresta@cravath.com,
	dcunning@cravath.com, mcunningham@isda.org,
	jerry.delmissier@barclayscapital.com, shawn@blackbird.net,
	evangelisti_joe@jpmorgan.com, francois@us.cibc.com,
	tim.fredrickson@ubsw.com, gilbert_adam@jpmorgan.com,
	goldenj@allenovery.com, mark.e.haedicke@enron.com,
	fwhx9396@mb.infoweb.ne.jp, jhb1@bancosantander.es,
	quentin_hills@hk.ml.com, yhoribe@isda.org, milphil@gateway.net,
	skawano@isda.org, hiroyuki_keisho@sanwabank.co.jp,
	stevenkennedy@kennedyco.com, damian.kissane@db.com,
	kazuhiko_koshikawa@sanwabank.co.jp, robert.mackay@nera.com,
	markb@cibc.ca, marjorie.b.marker@us.arthurandersen.com,
	lmarshall@isda.org, donna.matthews@ubsw.com,
	mengle_david@jpmorgan.com, tom.montag@gs.com,
	dmoorehead@pattonboggs.com, jonm@crt.com,
	yasumasa.nishi@ibjbank.co.jp, dennis.oakley@chase.com,
	losullivan@isda.org, ernest.patrikis@aig.com, rpickel@isda.org,
	maria.rosario@db.com, arothrock@pattonboggs.com, rryan@isda.org,
	maurits.schouten@csfb.com, charlessmithson@mindspring.com,
	ksumme@isda.org, teruo.tanaka@ibjbank.co.jp,
	steve_targett@nag.national.com.au, mark.wallace@wdr.com,
	h.ronald.weissman@us.arthurandersen.com, twerlen@cravath.com,
	dpd@aurora.dti.ne.jp, chi-wing.yuen@aig.com, apapesch@isda.org,
	nlim@isda.org, kdhulster@isda-eur.org, esebton@isda-eur.org,
	cirens@isda-eur.org, rmetcalfe@isda-eur.org, mhitchcock@isda-eur.org,
	kengelen@isda.org
Subject: ISDA PRESS REPORT - March 9, 2001
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Scott Marra <SMARRA@isda.org>
X-To: Tomoko Morita <TMorita@isda.org>, Ruth Ainslie <RAinslie@isda.org>, "'Yoshitaka Akamatsu'" <yoshitaka_akamatsu@btm.co.jp>, Shigeru Asai	 <Shigeru_Asai@sanwabank.co.jp>, Keith Bailey <kbailey2@exchange.ml.com>, Douglas Bongartz-Renaud <douglas.bongartz-renaud@nl.abnamro.com>, Mark Brickell <brickell_mark@jpmorgan.com>, Henning Bruttel	 <Henning.Bruttel@dresdner-bank.com>, Sebastien Cahen	 <sebastien.cahen@socgen.com>, Stacy Carey <SCAREY@ISDA.ORG>, Josh Cohn	 <jcohn@cravath.com>, "'Marjorie Cresta (Cravath)'" <mcresta@cravath.com>, Daniel Cunningham <dcunning@cravath.com>, Mary Cunningham	 <MCUNNINGHAM@isda.org>, Jerry del Missier	 <jerry.delmissier@barclayscapital.com>, "'Shawn Dorsch (Derivatives Net)'" <shawn@blackbird.net>, "'Joseph Evangelisti (JP Morgan)'" <evangelisti_joe@jpmorgan.com>, "'George Francois (CIBC)'" <francois@us.cibc.com>, Tim Fredrickson	 <tim.fredrickson@ubsw.com>, "'gilbert_adam@jpmorgan.com'"	 <gilbert_adam@jpmorgan.com>, Jeff Golden <goldenj@allenovery.com>, Mark Haedicke <Mark.E.Haedicke@enron.com>, "'Tsuyoshi Hase'"	 <fwhx9396@mb.infoweb.ne.jp>, Jose Manuel Hernandez-Beneyto	 <jhb1@bancosantander.es>, "'Quentin Hills'" <Quentin_hills@hk.ml.com>, Yasuko Horibe <YHORIBE@isda.org>, "'Michael Iver'" <milphil@gateway.net>, Shigeki Kawano <SKawano@isda.org>, Hiroyuki Keisho	 <Hiroyuki_Keisho@sanwabank.co.jp>, "'stevenkennedy@kennedyco.com'"	 <stevenkennedy@kennedyco.com>, Damian Kissane <damian.kissane@db.com>, Kazuhiko Koshikawa <kazuhiko_koshikawa@sanwabank.co.jp>, Robert Mackay	 <robert.mackay@nera.com>, Robert Mark <markb@cibc.ca>, Marjorie Marker	 <marjorie.b.marker@us.arthurandersen.com>, Louise Marshall	 <LMarshall@isda.org>, "'Donna.Matthews@ubsw.com'"	 <Donna.Matthews@ubsw.com>, "'David Mengle (JP Morgan)'"	 <mengle_david@jpmorgan.com>, Thomas Montag <tom.montag@gs.com>, Don Moorehead <dmoorehead@pattonboggs.com>, Jonathan Moulds	 <jonm@crt.com>, "'Yasumasa Nishi (IBJ)'" <yasumasa.nishi@ibjbank.co.jp>, Dennis Oakle

2001
By Andrea Reierson

Consolidation in the global banking sector could make it harder to keep
swaps the preserve of the OTC marketplace


Message-ID: <30958367.1075844812817.JavaMail.evans@thyme>
Date: Fri, 16 Mar 2001 05:24:00 -0800 (PST)
From: rhackman@lehman.com
To: clint.freeland@enron.com
Subject: RE: short dated puts
Cc: sara.shackleton@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: sara.shackleton@enron.com
X-From: "Hackmann, Russell" <rhackman@lehman.com>
X-To: "'Clint.Freeland@enron.com'" <Clint.Freeland@enron.com>
X-cc: "Sara Shackleton (E-mail)" <sara.shackleton@enron.com>
X-bcc:
X-Folder: \Sara_Shackleton_Dec2000_June2001_2\Notes Folders\Notes inbox
X-Origin: SHACKLETON-S
X-FileName: sshackle.nsf

Clint,

Here is the revised version without the price trigger:
<<ENRON.issuerput.03.15.01c.doc>>

Sorry about the error.

How did the meeting with Andy go?

Russell F. Hackmann, CFA
Corporate Equity Derivatives
Lehman Brothers Inc.
(212) 526-8398
(212) 526-2755 (fax)
rhackman@lehman.com

This message is intended only for the personal and confidential use of the
designated recipient(s) named above.  If you are not the intended recipient
of this message you are hereby notified that any review, dissemination,
distribution or copying of this message is strictly prohibited.  This
communication is for information purposes only and should not be regarded as
an offer to sell or as a solicitation of an offer to buy any financial
product, an official confirmation of any transaction, or as an official
statement of Lehman Brothers Inc., its subsidiaries or affiliates.  An
e-mail transmission cannot be guaranteed to be secure or error-free.
Therefore, we do not represent that this information is complete or accurate
and it should not be relied upon as such.  All information is subject to
change without notice.

> -----Original Message-----
> From: Clint.Freeland@enron.com [SMTP:Clint.Freeland@enron.com]
> Sent: Friday, March 16, 2001 11:37 AM
> To: Hackmann, Russell
> Subject: RE: short dated puts
>
>
> Russ -
> Just for clarification, why is there a price trigger in this?  Assuming
> that the effective put price on the forwards is $19, where would you
> envision putting the trigger price?
>
>
>
>
>
>                     "Hackmann,
>
>                     Russell"             To:     "'Clinton Freeland
> (E-mail)'"
>                     <rhackman@leh        <clint.freeland@enron.com>
>
>                     man.com>             cc:     "'Sara Shackleton
> (E-mail)'"
>                                          <sara.shackleton@enron.com>
>
>                     03/16/2001           Subject:     RE: short dated puts
>
>                     10:04 AM
>
>
>
>
>
>
>
>
>
> This is a slightly revised version of this:
> <<ENRON.issuerput.03.15.01b.doc>>
>
> Russell F. Hackmann, CFA
> Corporate Equity Derivatives
> Lehman Brothers Inc.
> (212) 526-8398
> (212) 526-2755 (fax)
> rhackman@lehman.com
>
> This message is intended only for the personal and confidential use of the
> designated recipient(s) named above.  If you are not the intended
> recipient
> of this message you are hereby notified that any review, dissemination,
> distribution or copying of this message is strictly prohibited.  This
> communication is for information purposes only and should not be regarded
> as
> an offer to sell or as a solicitation of an offer to buy any financial
> product, an official confirmation of any transaction, or as an official
> statement of Lehman Brothers Inc., its subsidiaries or affiliates.  An
> e-mail transmission cannot be guaranteed to be secure or error-free.
> Therefore, we do not represent that this information is complete or
> accurate
> and it should not be relied upon as such.  All information is subject to
> change without notice.
>
> > -----Original Message-----
> > From:   Hackmann, Russell
> > Sent:   Thursday, March 15, 2001 1:03 PM
> > To:     Clinton Freeland (E-mail)
> > Cc:     Sara Shackleton (E-mail)
> > Subject:     short dated puts
> >
> > Clint,
> >
> > Here is the confirm for the proposed put option


Message-ID: <3274291.1075852886767.JavaMail.evans@thyme>
Date: Wed, 3 Oct 2001 07:17:36 -0700 (PDT)
From: steven.harris@enron.com
To: glen.hass@enron.com, <douglass".'"dan@enron.com>, tony.pryor@enron.com,
	drew.fossum@enron.com, kay.miller@enron.com, robert.kilmer@enron.com,
	teb.lokey@enron.com, blair.lichtenwalter@enron.com
Subject: RE: SoCalGas Developments
Cc: lorraine.lindberg@enron.com, kimberly.watson@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: lorraine.lindberg@enron.com, kimberly.watson@enron.com
X-From: Harris, Steven </O=ENRON/OU=NA/CN=RECIPIENTS/CN=SHARRIS1>
X-To: Hass, Glen </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ghass>, '"Dan Douglass" <douglass@energyattorney.com>@ENRON' <IMCEANOTES-+22Dan+20Douglass+22+20+3Cdouglass+40energyattorney+2Ecom+3E+40ENRON@ENRON.com>, Pryor, Tony </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tpryor>, Fossum, Drew </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dfossum>, Miller, Mary Kay </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mkmiller>, Kilmer III, Robert </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rkilmer>, Lokey, Teb </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tlokey>, Lichtenwalter, Blair </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Blichte>
X-cc: Lindberg, Lorraine </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Llindbe>, Watson, Kimberly </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kwatson>
X-bcc:
X-Folder: \KWATSON (Non-Privileged)\Watson, Kimberly\Deleted Items
X-Origin: Watson-K
X-FileName: KWATSON (Non-Privileged).pst

Yes, we should take a look at it. I spoke to Blair about it this morning but we probably need to get a more in-depth analysis. Lorraine is SoCal's rep so she should probably be the one to review it as well as Kim Watson and myself. Thanks.

 -----Original Message-----
From: 	Hass, Glen
Sent:	Wednesday, October 03, 2001 9:14 AM
To:	'"Dan Douglass" <douglass@energyattorney.com>@ENRON'; Harris, Steven; Pryor, Tony; Fossum, Drew; Miller, Mary Kay; Kilmer III, Robert; Lokey, Teb; Lichtenwalter, Blair
Subject:	RE: SoCalGas Developments

I had also received the filing and likewise Susan (Scott) Lindberg had received one.  Susan's copy has been forwarded to Blair/Teb for regulatory review as well as being available in Houston for Marketing to review.  It's a bound document about 2 inches thick including the testimony.  Importantly it includes SoCal's proposal for receipt point capacity.  I've only read the transmittal letter thus far but will continue reviewing it for more detail.

Steve, would you want to designate someone from Marketing to review key sections?  I would offer to let them know which areas or sections of the filing could use input from Marketing before we decide whether or not to comment on SoCal's proposal or to simply intervene at this time, monitor progress and provide input later in the proceeding if necessary.

Other comments?  gh

 -----Original Message-----
From: 	"Dan Douglass" <douglass@energyattorney.com>@ENRON [mailto:IMCEANOTES-+22Dan+20Douglass+22+20+3Cdouglass+40energyattorney+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, October 02, 2001 4:57 PM
To:	Harris, Steven; Pryor, Tony; Hass, Glen; Fossum, Drew
Subject:	Re: SoCalGas Developments

Steve,

Will do.  Will review filing and get back to you with any implications for
TW.

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
douglass@energyattorney.com
----- Original Message -----
From: "Harris, Steven" <Steven.Harris@enron.com>
To: "Pryor, Tony" <Tony.Pryor@enron.com>; "Hass, Glen"
<Glen.Hass@enron.com>; "Fossum, Drew" <Drew.Fossum@enron.com>
Cc: <douglass@energyattorney.com>
Sent: Tuesday, October 02, 2001 12:02 PM
Subject: RE: SoCalGas Developments

> At a minimum, we need to intervene as an interested party.
>
> >  -----Original Message-----
> > From: Pryor, Tony
> > Sent: Tuesday, October 02, 2001 2:00 PM
> > To: Harris, Steven; Hass, Glen; Fossum, Drew
> > Cc: 'douglass@energyattorney.com'
> > Subject: FW: SoCalGas Dev


Message-ID: <14529048.1075859666580.JavaMail.evans@thyme>
Date: Wed, 29 Nov 2000 03:31:00 -0800 (PST)
From: richard.sanders@enron.com
To: mark.haedicke@enron.com
Subject: RE: FW: ANNOUNCEMENT: Notice of Press Conference today
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Richard B Sanders
X-To: Mark E Haedicke
X-cc:
X-bcc:
X-Folder: \Mark_Haedicke_Dec2000_1\Notes Folders\All documents
X-Origin: Haedicke-M
X-FileName: mhaedic.nsf

----- Forwarded by Richard B Sanders/HOU/ECT on 11/29/2000 11:31 AM -----

	Mark Palmer@ENRON
	11/29/2000 10:56 AM

		 To: Richard Shapiro/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Richard B Sanders/HOU/ECT@ECT, Paul
Kaufman/PDX/ECT@ECT
		 cc:
		 Subject: RE: FW: ANNOUNCEMENT: Notice of Press Conference today

Here's the suit filed against the generators.  Reporter says our suit will
look the same.

Mark
----- Forwarded by Mark Palmer/Corp/Enron on 11/29/2000 10:53 AM -----

	"Leopold, Jason" <Jason.Leopold@dowjones.com>
	11/29/2000 10:47 AM

		 To: "'Mark.Palmer@enron.com'" <Mark.Palmer@enron.com>
		 cc:
		 Subject: RE: FW: ANNOUNCEMENT: Notice of Press Conference today

James C. Krause, Esq., SBN 066478
Ralph B. Kalfayan, Esq., SBN 133464
Patrick N. Keegan, Esq., SBN 167698
Stephen W. Poirier, Esq. SBN 200868
KRAUSE & KALFAYAN
1010 Second Avenue, Suite 1750
San Diego, CA 92101
Tel: (619) 232-0331
Fax: (619) 232-4019

Attorneys for Plaintiff
(Additional Counsel on Signature Page)

 SUPERIOR COURT OF THE STATE OF CALIFORNIA

 FOR THE COUNTY OF SAN DIEGO

PAMELA R. GORDON, on behalf of ) Case No.
herself and all others similarly situated, )
       ) CLASS ACTION
COMPLAINT FOR
) VIOLATIONS OF CALIFORNIA
Plaintiff,  ) BUSINESS AND PROFESSIONS CODE
) oo16720, ET SEQ. AND oo17200 ET SEQ.
vs.     ) ANTITRUST and UNFAIR
BUSINESS
) PRACTICES
RELIANT ENERGY, INC.; SOUTHERN )
COMPANY; NRG ENERGY; DYNEGY,  )
INC.; AES CORPORATION; WILLIAMS )
ENERGY; DUKE ENERGY NORTH )
AMERICA; and  DOES 1 through 100,  )
Inclusive     )
)
Defendants.  )
___________________________________  )

  TABLE OF CONTENTS

I. NATURE OF THE CASE 1

II. VENUE 2

III. PARTIES 2

IV. CLASS ACTION ALLEGATIONS 5

V. COMMON ALLEGATIONS OF FACT 6

A. The California Wholesale Electricity Markets 6

B. Defendants' Improper Acts 8

C. Results of Defendants' Activities 13

FIRST CAUSE OF ACTION 15
Violation of Sections 16720 and 16726 of the California Business and
Professions
Code Trust In Restraint of Trade or Commerce in Violation of the Antitrust
Act
SECOND CAUSE OF ACTION 18
For Violations of the Unfair Trade Practices Act Based Upon Violations of
the
Antitrust Act

THIRD CAUSE OF ACTION 19
For Violations of the Unfair Trade Practices Act Based Upon Defendants'
Unfair Business Acts and Practices

FOURTH CAUSE OF ACTION 20
Violations of the Consumers Legal Remedies Act

VI. PRAYER FOR RELIEF 21

 Plaintiff hereby alleges on information and belief based upon the
investigation made by and through her attorneys, as follows:
 I.
 NATURE OF THE CASE

1. This is a class action seeking redress under the law of California
for defendants' conduct in the market for wholesale electricity.  During the
spring and summer of 2000, a group of electricity generators and traders,
including defendants, exercising market power, unlawfully manipulated the
California wholesale electricity market, resulting in grossly inflated
wholesale electricity prices throughout the state and much of the Western
United States. Defendants accomplished this result by, inter alia,
improperly using confidential real time generator capacity, use, and
maintenance data, and transmission system flow data to "game" the wholesale
electricity market, by withholding electrical generating capacity from the
California Power Exchange's forward markets, by improperly parking power
with affiliates in other states which was later resold in California at
inflated rates, by scheduling previously unpl

3 cents per kilowatt hour have risen to 19
cents per kilowatt hour in just