Message-ID: <16636923.1075860033264.JavaMail.evans@thyme>
Date: Mon, 20 Nov 2000 07:49:00 -0800 (PST)
From: alan.aronowitz@enron.com
To: mark.taylor@enron.com
Subject: ETS Risk Assessment Report
Cc: marcus.nettelton@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: marcus.nettelton@enron.com
X-From: Alan Aronowitz
X-To: Mark Taylor
X-cc: Marcus Nettelton
X-bcc:
X-Folder: \Mark_Taylor _Dec_2000\Notes Folders\Notes inbox
X-Origin: Taylor-M
X-FileName: mtaylor.nsf

Marcus Nettelton is coordinating comments on the attached.

As we previously discussed, McDermott, Will & Emery was asked to prepare this
draft.

Regards, Alan
----- Forwarded by Alan Aronowitz/HOU/ECT on 11/20/2000 03:47 PM -----

	klarsen@mwe.com
	11/17/2000 10:38 AM

		 To: Alfred.Pennisi@enron.com, Marcus.Nettelton@enron.com,
Alan.Aronowitz@enron.com
		 cc: ppantano@mwe.com, darezina@mwe.com
		 Subject: ETS Risk Assessment Report

******************** PRIVILEGED AND CONFIDENTIAL ********************

Dear Gentlemen:
Attached please find the draft Enron Trading Services Risk Assessment Report
to
be filed with the CFTC.  Included in this report is a cover letter, the
Organizational Chart, and Sections 10 (Capital Requirements) and 15 (Risk
Management) of the ETS Futures Compliance Procedures Manual.  Also attached
for
your convenience, is a blackline version of Sections 10 and 15 to reflect the
changes we have made.

Please note that we have not listed Enron Corp. as a Material Affiliated
Person
of ETS based on our review of the preamble to CFTC Final Rule 1.14, defining a
Material Affiliated Person, and on our conversation on a non-disclosed basis
with the CFTC Auditor .  Should you have any questions or suggestions
regarding
the report, please contact me at the telephone number listed below.  Thank
you.

(See attached file: ETS Risk Report Cover Letter.doc)(See attached file: ETS
Organizational Chart.ppt)(See attached file: ETS Risk Report - Sections 10 &
15.doc)(See attached file: ETS Risk Report Blackline - Sections 10&15.doc)

Best regards,
Kari S. Larsen
McDermott, Will & Emery
600 13th Street, N.W.
Washington, DC 20005
Ph:    (202) 756-8374
Fax:  (202) 756-8087
Email:  klarsen@mwe.com

******************************************************************************
*******

This message is a PRIVILEGED AND CONFIDENTIAL communication.  If you are not
the
intended recipient, please do not read, copy, or use it, and do not disclose
it
to others.  Please notify the sender of the delivery error by replying to this
message, and then delete it from your system.  Thank you.
******************************************************************************
*******

For more information on McDERMOTT, WILL & EMERY please visit our website at:
http://www.mwe.com/

 - ETS Risk Report Cover Letter.doc
 - ETS Organizational Chart.ppt
 - ETS Risk Report - Sections 10 & 15.doc
 - ETS Risk Report Blackline - Sections 10&15.doc


Message-ID: <31620211.1075847134396.JavaMail.evans@thyme>
Date: Fri, 17 Nov 2000 06:19:00 -0800 (PST)
From: exchangeinfo@nymex.com
To: tana.jones@enron.com
Subject: (00-392) CFTC Approval of Amendments to NYMEX Rule 3.47 ("Audit
 Committee")
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: exchangeinfo@nymex.com
X-To: tana.jones@enron.com
X-cc:
X-bcc:
X-Folder: \Tanya_Jones_Dec2000\Notes Folders\Notes inbox
X-Origin: JONES-T
X-FileName: tjones.nsf

Notice No. 00-392
November 17, 2000

TO: ALL NYMEX AND COMEX DIVISION MEMBERS

FROM: Neal L. Wolkoff, Executive Vice President

DATE:  November 17, 2000

RE:  Notice of CFTC Approval of Amendments to NYMEX Rule 3.47 ("Audit=20
Committee")
____________________________________________________________________

Please be advised that the CFTC has approved amendments to NYMEX Rule 3.47=
=20
("Audit Committee"), which are shown below and are now in effect.  The=20
amendments add an additional Public Director and expand the duties of the=
=20
Audit Committee to encompass consideration of the information to be include=
d=20
in NYMEX filings to the SEC.

If you have any questions, please contact Michael Lugo, Vice President of=
=20
Internal Auditing, at  (212) 299-2268.

APPROVED AMENDMENTS TO NYMEX RULE 6.40A

(An asterisk indicates deletions; parentheses indicate deletions.)

Rule 3.47 AUDIT COMMITTEE

(A) The Audit Committee shall be a regular committee and shall consist of t=
he=20
Chairman of the Board and *two*(three) Public Directors appointed by the=20
Board.  One of the Public Directors shall serve as Chairman of the Committe=
e
(B) The Audit Committee shall:
(i) *on* (On) an annual basis:
(a) make a recommendation to the Board of Directors regarding selection,=20
retention and discharge of independent auditors for the ensuing year; and
(b) *(b)* review the scope and general extent of the independent auditors=
=01,=20
examination, the significant audit procedures which will be utilized, and=
=20
fees charged for their services.
((ii) Review the audited financial statements and discuss them with=20
management and the independent auditors. These discussions shall include, b=
ut=20
not be limited to, the matters required to be disclosed under Statement of=
=20
Auditing Standards No. 61 (established by the Auditing Standards Board) and=
=20
consideration of the quality of the Exchange=01,s accounting principles as=
=20
applied in its financial reporting, including a review of sensitive=20
accounting estimates, reserves and accruals, judgement areas, audit=20
adjustments (whether or not recorded), and other such inquires as the=20
Committee or the independent auditors shall deem appropriate.  Based on suc=
h=20
review, the Committee shall make its recommendation to the Board as to the=
=20
inclusion of the Exchange=01,s audited financial statements in the Exchange=
=01,s=20
Annual Report on Form 10-K.
(iii) Discuss with representatives of management and the independent audito=
rs:
(a) the interim financial information contained in the Exchange=01,s
Quarterly Report on Form 10-Q prior to its filing; and
(b) the results of the review by the independent auditors.)
(iv) *(ii) on* (On) a monthly basis, or at such times as the Committee shal=
l=20
determine, but not less than twice each year, meet with the independent=20
auditors, President, Senior Vice President of Finance, *Director* (Vice=20
President) of Internal Audit and other personnel as the Committee deems=20
appropriate to review:
(a) the scope of the audit plan;
(b) the Exchange=01,s financial statements;
(c) the results of external and internal audits;
(d) the effectiveness of the Exchange=01,s system of internal controls;
(e) any limitations imposed by Exchange personnel on the independent=20
auditors; and
(f) such other matters as the Committee shall deem appropriate upon advisin=
g=20
the Executive Committee.
((v)) * review *(Review) the internal audit funct


Message-ID: <614002.1075847092617.JavaMail.evans@thyme>
Date: Wed, 26 Jul 2000 08:37:00 -0700 (PDT)
From: savita.puthigai@enron.com
To: tana.jones@enron.com
Subject: RE: Confidentiality Agreement
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Savita Puthigai
X-To: Tana Jones
X-cc:
X-bcc:
X-Folder: \Tanya_Jones_Dec2000\Notes Folders\Notes inbox
X-Origin: JONES-T
X-FileName: tjones.nsf

Hi Tana,

Can you please advise as to which one of the options below we prefer.

Savita
---------------------- Forwarded by Savita Puthigai/NA/Enron on 07/26/2000
03:36 PM ---------------------------

Marc Mellman <MMellman@natsource.com> on 07/26/2000 03:03:38 PM
To: "'Savita.Puthigai@enron.com'" <Savita.Puthigai@enron.com>
cc: "Jack D. Cogen" <jcogen@natsource.com>, "'Tana.Jones@enron.com'"
<Tana.Jones@enron.com>

Subject: RE: Confidentiality Agreement

Savita,
The CA is fine.  Do you want me to sign the non-letterhead version and
forward to you, or would you prefer to telefax a signed letterhead version,
have me sign it, and fax it back?  Please let me know.  Thank you.
Marc

-----Original Message-----
From: Savita.Puthigai@enron.com [mailto:Savita.Puthigai@enron.com]
Sent: Tuesday, July 25, 2000 5:08 PM
To: Marc Mellman
Cc: Tana.Jones@enron.com
Subject: RE: Confidentiality Agreement
Importance: High

Hi Marc,

Tana Jones from our legal department  just called me and said that before I
sent Wesley Fredricks information over to her, Andrew O Connor returned her
phone call and is now expecting the document from us. You may receive an
email from her to try to sort this out. Thanks a lot.

Savita

Marc Mellman <MMellman@natsource.com> on 07/25/2000 03:45:28 PM

To:   "'Savita.Puthigai@enron.com'" <Savita.Puthigai@enron.com>
cc:

Subject:  RE: Confidentiality Agreement

To follow up, the complete info for Mr. Fredericks is as follows:
Wesley C. Fredericks, Jr.
Dorsey & Whitney LLP
250 Park Avenue
New York, NY 10177
212-415-9263
212-953-7201 fax

-----Original Message-----
From: Savita.Puthigai@enron.com [mailto:Savita.Puthigai@enron.com]
Sent: Tuesday, July 25, 2000 4:45 PM
To: Marc Mellman
Subject: Re: Confidentiality Agreement
Importance: High

I maybe mistaken but I think Jack had given me the name of Andrew O Connor
(tel 212-286-1234 ) as your attorney. I hust want to make sure that Wesley
Fredricks is the person we need to sen it to. Please let me know.

Savita

Marc Mellman <MMellman@natsource.com> on 07/25/2000 03:30:57 PM

To:   "'Savita.Puthigai@enron.com'" <Savita.Puthigai@enron.com>
cc:   "Jack D. Cogen" <jcogen@natsource.com>,
      "'fredericks.wesley@dorseylaw.com'" <fredericks.wesley@dorseylaw.com>

Subject:  Confidentiality Agreement

Our attorney is Wesley Fredericks, Esq.  His e-mail address is:
fredericks.wesley@dorseylaw.com.  You may forward the document to Mr.
Fredericks by e-mail.
Marc Mellman


Message-ID: <25530612.1075851626620.JavaMail.evans@thyme>
Date: Wed, 17 Oct 2001 16:11:23 -0700 (PDT)
From: jeff.dasovich@enron.com
To: susan.mara@enron.com, karen.denne@enron.com
Subject: RE: Info on VICA conference
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Dasovich, Jeff </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JDASOVIC>
X-To: Mara, Susan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Smara>, Denne, Karen </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kdenne>
X-cc:
X-bcc:
X-Folder: \Dasovich, Jeff (Non-Privileged)\Dasovich, Jeff\Sent Items
X-Origin: DASOVICH-J
X-FileName: Dasovich, Jeff (Non-Privileged).pst

I think Sue should come down with something (I know I would).  Horowitz? Eegads. He will be relentless...

Looks like this group likes a good food fight.
-----Original Message-----
From: Mara, Susan
Sent: Wednesday, October 17, 2001 6:10 PM
To: Denne, Karen; Dasovich, Jeff; Kaufman, Johnathan
Subject: FW: Info on VICA conference

Karen,
I can't believe you got me in to this! David Horowitz!

-----Original Message-----
From: Sandra Yamane [mailto:SYamane@marathon-com.com]
Sent: Wednesday, October 17, 2001 4:06 PM
To: Mara, Susan
Subject: RE: Info on VICA conference

Hi Sue:

The Valley Industry and Commerce Assn (VICA) is holding its 13th annual
Business Forecast Conference on Friday, Oct. 26th at the Warner Center
Marriott, located at:

21850 Oxnard Street
Woodland Hills, CA 91367
Phone: 1-818-887-4800

Your panel will begin at 10:00 a.m. and will be moderated by Paul Dandridge,
Anchor/Journalist for KCBS News.  Other panelists include: David Freeman,
David Horowitz, and Dr. Fred Pickel.

If you have questions about the conference, call Bonny Herman, president of
VICA or Scott Schmidt, VICA director of legislative affairs at 818/817-0545.

Call me if you have any other questions.  I may be reached at 323/655-4660.
Looking forward to seeing you Friday.

Sandra

-----Original Message-----
From: Mara, Susan [mailto:Susan.J.Mara@ENRON.com]
Sent: Wednesday, October 17, 2001 3:34 PM
To: syamane@marathon-com.com
Subject: Info on VICA conference

I know I'm speaking on the 26th -- but I have no information on where or
when. Could you please tell me who to contact at VICA?

Sue Mara
(415) 782-7802

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Message-ID: <10194717.1075841560473.JavaMail.evans@thyme>
Date: Mon, 19 Nov 2001 09:42:46 -0800 (PST)
From: cara.semperger@enron.com
To: 'broughton@enron.com, susan.broughton@avistacorp.com
Subject: RE: Thanksgiving weekend
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Semperger, Cara </O=ENRON/OU=NA/CN=RECIPIENTS/CN=CSEMPER>
X-To: 'Broughton, Susan' <susan.broughton@avistacorp.com>
X-cc:
X-bcc:
X-Folder: \ExMerge - Semperger, Cara\Sent Items
X-Origin: SEMPERGER-C
X-FileName: cara semperger 6-26-02.PST

Why don't we try 10 ish for coffee or brunch or whatnot?

My cell is 503-701-2894 just in case.

Can't wait!

C

-----Original Message-----
From: Broughton, Susan [mailto:susan.broughton@avistacorp.com]
Sent: Monday, November 19, 2001 9:20 AM
To: Semperger, Cara
Subject: RE: Thanksgiving weekend

I would love to get together with you - Saturday would be probably the best
time because my company plans on leaving Saturday morning - call me at
466-5573(my home number) so we can do lunch or something.

-----Original Message-----
From: Semperger, Cara [mailto:Cara.Semperger@ENRON.com]
Sent: Monday, November 19, 2001 9:16 AM
To: sbroughton@avistacorp.com
Subject: Thanksgiving weekend

Hi Susan,

I am going to be in Spokane from Wednesday Night thru Sunday morning, I
would really like to get together for coffee or something.

Are you going to be in town?

Cara

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Message-ID: <28171097.1075843366486.JavaMail.evans@thyme>
Date: Sun, 18 Feb 2001 19:13:00 -0800 (PST)
From: cvavrek@deloitte.com
To: jeff.dasovich@enron.com, mark_guinney@watsonwyatt.com
Subject: RE: Answers
Cc: asama@yahoo.com, jeff_dasovich@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
Bcc: asama@yahoo.com, jeff_dasovich@enron.com
X-From: "Vavrek, Carolyn (US - San Francisco)" <cvavrek@deloitte.com>
X-To: Jeff.Dasovich@enron.com, Mark Guinney <Mark_Guinney@watsonwyatt.com>
X-cc: asama@yahoo.com, Jeff_Dasovich@enron.com
X-bcc:
X-Folder: \Jeff_Dasovich_June2001\Notes Folders\All documents
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

got your messages + attachments and mark's - WOW + THANKS!!
also calc'd it all myself
will review + compare + send around comments
-cv
Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA? 94105

phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Sunday, February 18, 2001 8:26 PM
To: Mark Guinney
Cc: asama@yahoo.com; cvavrek@deloitte.com; Jeff.Dasovich@enron.com;
Jeff_Dasovich@enron.com
Subject: Re: Answers

Since it seems like folks may have only been sporadically receiving my
emails, please let me know if you receive the memos and accompanying
spreadsheets that I just sent.? Thanks.

Best,
Jeff

This message (including any attachments) contains confidential information
intended for a specific individual and purpose, and is protected by law.? If
you are not the intended recipient, you should delete this message and are
hereby notified that any disclosure, copying, or distribution of this
message, or the taking of any action based on it, is strictly prohibited.

Jeff.Dasovich@enron.com, Mark Guinney
Vavrek, Carolyn (US - San Francisco)


Message-ID: <15491196.1075842948512.JavaMail.evans@thyme>
Date: Mon, 31 Jul 2000 02:49:00 -0700 (PDT)
From: jblackwell@luce.com
To: jleslie@luce.com, anchau@shellus.com, bdingwall@unitedgas.com,
	ben.reyes@utility.com, douglass@arterhadden.com,
	david.bayless@utility.com, gworster@txuenergy.com,
	jdasovic@enron.com, rochmanm@spurr.org, mday@gmssr.com,
	rick.counihan@greenmountain.com, tod_bradley@powerspring.com
Subject: Reply Brief in Support of Comprehensive Settlement
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "Blackwell, Juanita" <JBlackwell@LUCE.com>
X-To: "Leslie, John" <jleslie@LUCE.com>, Andrew Chau <anchau@shellus.com>, "B. Dingwall" <bdingwall@unitedgas.com>, "Benjamin T. Reyes II (E-mail)" <ben.reyes@utility.com>, "Dan Douglass Esq. (E-mail)" <Douglass@ArterHadden.com>, "David Bayless (E-mail)" <david.bayless@utility.com>, Gerard Worster <gworster@txuenergy.com>, Jeff Dasovich <jdasovic@enron.com>, Michael Rochman <rochmanm@spurr.org>, Mike Day <mday@gmssr.com>, Rick Counihan <rick.counihan@greenmountain.com>, Tod Bradley <tod_bradley@powerspring.com>
X-cc:
X-bcc:
X-Folder: \Jeff_Dasovich_Dec2000\Notes Folders\All documents
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

To The Core Aggregator Group:

 I have enclosed my near-to-final draft of the core aggregators'
reply brief in the CPUC's gas industry restructuring case (I.99-07-003).  As
you know, the reply brief is due to be filed today.  Please provide me with
your comments on the draft no later than noon today.  Thank you for your
attention to this matter.

   -John

 <<#1539913 v1 - CORE-BRIEF - Reply Brief in Support of Comprehensive
Setlement.doc>> S

**************

CONFIDENTIAL

Luce, Forward, Hamilton & Scripps LLP
600 West Broadway
Suite 2600
San Diego, CA 92101-3391
(619) 236-1414

The information contained in this electronic mail transmission is
confidential and intended to be sent only to the stated recipient of the
transmission.  It may therefore be protected from unauthorized use or
dissemination by the attorney-client and/or attorney work-product
privileges.  If you are not the intended recipient or the intended
recipient's agent, you are hereby notified that any review, use,
dissemination, distribution or copying of this communication is strictly
prohibited.  You are also asked to notify us immediately by telephone and to
delete this transmission with any attachments and destroy all copies in any
form.  Thank you in advance for your cooperation.

 - #1539913 v1 - CORE-BRIEF - Reply Brief in Support of Comprehensive
Setlement.doc


Message-ID: <21855776.1075843847330.JavaMail.evans@thyme>
Date: Wed, 7 Feb 2001 09:53:00 -0800 (PST)
From: jeff.dasovich@enron.com
To: cvavrek@deloitte.com
Subject: RE: HD Case: Proposed Plan
Cc: chin@haas.berkeley.edu, jeff.dasovich@enron.com,
	mark_guinney@watsonwyatt.com, sama@haas.berkeley.edu
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: chin@haas.berkeley.edu, jeff.dasovich@enron.com,
	mark_guinney@watsonwyatt.com, sama@haas.berkeley.edu
X-From: Jeff Dasovich
X-To: "Vavrek, Carolyn (US - San Francisco)" <cvavrek@deloitte.com>
X-cc: chin@haas.berkeley.edu, Jeff.Dasovich@enron.com, Mark Guinney <Mark_Guinney@watsonwyatt.com>, sama@haas.berkeley.edu
X-bcc:
X-Folder: \Jeff_Dasovich_June2001\Notes Folders\Sent
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

Ok, we're on for 7 pm. i've got carolyn's and Mark's #s please pass along
others and i'll originate the call from here.
mark, all of your points are good one's, less discuss them on teh call.
best,
jeff

	"Vavrek, Carolyn (US - San Francisco)" <cvavrek@deloitte.com>
	02/07/2001 12:25 PM

		 To: Jeff.Dasovich@enron.com
		 cc: chin@haas.berkeley.edu, Mark Guinney <Mark_Guinney@watsonwyatt.com>,
sama@haas.berkeley.edu
		 Subject: RE: HD Case: Proposed Plan

I like your ideas - much better developed than in the draft memo.  I'm free
at 7pm.  My home number is 285-7385.  Just patch me in.
- cv
Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA  94105
phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Wednesday, February 07, 2001 8:26 AM
To: Vavrek, Carolyn (US - San Francisco)
Cc: chin@haas.berkeley.edu; Jeff.Dasovich@enron.com; Mark Guinney;
sama@haas.berkeley.edu
Subject: Re: HD Case: Proposed Plan

Hi folks:
Since we have only one page, the write up for number 4 will have to be very
brief.  Before writing it, though, I wanted to offer a few bullets
regarding what angle we might take, and let folks respond, comment,
counter, etc. before writing it up.  I'll clean and beef up once we've
agreed to the approach we'd like to take to question #4.  Finally, I can
work from my office on this this evening, which means that I can use the
conference call capability of my office phone to patch everyone in if we'd
like to do a conference call. If that's what folks would like to do, I'd
prefer to do the call at around 7 PM.  Just let me know.
Best,
Jeff
The question for #4 is:
Stock price is down 23%, significant debt has already been tapped to
support massive growth and covenants on that debt restrict taking on a lot
more debt.
What should HD do w.r.t. current operations and future growth strategy?
     In the near term focus less on growth and more on getting margins and
EBIT growth back in line with results from previous years.  (Management's
Letter to Shareholders alludes to this, but it's difficult to determine
whether management is just paying lip service to the need to capitalize on
the growth spurt and grown earnings, or continue on the growth effort.)
     With respect to funding future (more moderate growth), the company
does have some room to increase long-term debt (e.g., current ratio for
1986 = 2.26).  It seems that HD would get better terms and have increased
flexibility by issuing additional debt rather than relying on lines of
credit.  As such, HD ought to look those sources of funding and fill in any
"funding gaps" with funds from the line of credit.
     Given the significant drop in stock price, HD is likely better off in
the near term 1) moderating growth, 2) improving performance to generate
cash internally, and 3) using long-term debt issuance to provide the funds
needed.  Once performance and stock price improves, then HD should consider
a stock issuance.
How can company improve ope

Jeff Dasovich
Vavrek, Carolyn (US - San Francisco)


Message-ID: <22234303.1075855173418.JavaMail.evans@thyme>
Date: Thu, 27 Dec 2001 15:37:31 -0800 (PST)
From: no.address@enron.com
Subject: Please Read: Resolution Center to Disconnect Toll Free number
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
X-From: Enron General Announcements@ENRON
X-To: Announcement Group@ENRON <??SAnnouncement Group@ENRON>
X-cc:
X-bcc:
X-Folder: \James_Reitmeyer_Jan2002_1\Reitmeyer, Jay\Inbox
X-Origin: Reitmeyer-J
X-FileName: jreitme (Non-Privileged).pst

The Resolution Center will be decommissioning one of its 888 numbers (888-877-7757) as of January 7, 2002.
You can continue to contact the Resolution Center, Toll Free, by using the following steps:
To contact the ENW IT Resolution Center:
? Call 1-800-973-6766 (1-800-97-ENRON)
? Select 1 to transfer to an extension within the Enron Building
? Select 31411 and you will be transferred to the helpdesk.
The following options are also available through the toll-free number:
0: Connect to voice directory
1: Transfer to an extension in the Enron building
2: Access voicemail in the Enron building
3: Transfer to 3 Allen Center
4: Transfer to Omaha
5: Transfer modem or fax with 646 prefix
6: Speak to an Enron operator
7: Transfer to a fax machine in the message center
8: Transfer to Aviation
9: Leave a confidential message for Enron Chairman
Please contact the Resolution Center at 3-1411 for assistance

ETS customers should continue to contact the ETS Solution Center-Houston at 713-345-4745 or 888-465-4745, and the ETS Solution Center-Omaha at 402-398-7454.

Enron General Announcements@ENRON
Announcement Group@ENRON


Message-ID: <18464162.1075844687713.JavaMail.evans@thyme>
Date: Wed, 7 Feb 2001 05:27:00 -0800 (PST)
From: sara.shackleton@enron.com
Subject: Enron/Corrugated Services
Cc: carol.clair@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: carol.clair@enron.com
X-From: Sara Shackleton
X-To: neel.lemon@bakerbot
X-cc: Carol St Clair
X-bcc:
X-Folder: \Sara_Shackleton_Dec2000_June2001_2\Notes Folders\All documents
X-Origin: SHACKLETON-S
X-FileName: sshackle.nsf

Neel:

My apologies for the late response.  Carol St. Clair will be handling
Corrugated and she will call or email you to schedule a call.  Carol can be
reached at 713-853-3989.  Thanks.

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
----- Forwarded by Sara Shackleton/HOU/ECT on 02/07/2001 01:13 PM -----

	Neel.Lemon@bakerbotts.com
	02/06/2001 07:29 PM

		 To: Sara.Shackleton@enron.com
		 cc: Rebecca.Williams@BakerBotts.com, ffelvey@csipaper.com
		 Subject: Enron/Corrugated Services

Sara:

Any chance you are available at 1:30pm on Wednesday for a call regarding the
Enron/Corrugated Services ISDA?  If that time will not work for you, please
suggest another time tomorrow afternoon that would.

Also, you will be receiving on Thursday morning a copy of some of the more
relevant documentation relating to the June 2000 drop down of the Corrugated
Services, Inc. operating assets and liabilities (including the original
Enron/Corrugated Services, Inc. ISDA) into a newly formed limited
partnership known as Corrugated Services, L.P.  In connection with that
transaction, Corrugated Services, Inc. changed its name to CSI Holdings,
Inc.  CSI Holdings, Inc. also formed at that time and now owns 100% of CSI
GP, Inc., which entity serves as the general partner of Corrugated Services,
L.P.  All of this was done to create a more franchise tax efficient
operating and ownership structure.

Based on the foregoing, we believe that it will be necessary to redocument
the original agreement either through an amendment thereto or the
cancellation thereof and the creation of a new LP/Enron agreement.

We plan on discussing the foregoing during our call tomorrow afternoon.

Thanks.
__________________________
Neel Lemon
Baker Botts LLP
2001 Ross Avenue
Suite 700
Dallas, Texas 75201
214.953.6954 - office
214.661.4954 - fax
469.323.6120 - NEW MOBILE
214.361.6717 - home
neel.lemon@bakerbotts.com - email

The information contained in this email is confidential and may be subject
to the attorney-client privilege.  As a result, any unauthorized use or
transmission is prohibited.  If you are not the intended addressee, please
delete this email and notify the sender.


Message-ID: <27741577.1075861104018.JavaMail.evans@thyme>
Date: Thu, 24 Jan 2002 11:50:17 -0800 (PST)
From: robert.bruce@enron.com
To: sara.shackleton@enron.com
Subject: RE: Forest Products Trading Counterparties
Cc: susan.bailey@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: susan.bailey@enron.com
X-From: Bruce, Robert </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RBRUCE2>
X-To: Shackleton, Sara </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sshackl>
X-cc: Bailey, Susan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sbaile2>
X-bcc:
X-Folder: \Susan_Bailey_Mar2002\Bailey, Susan\Deleted Items
X-Origin: Bailey-S
X-FileName: sbaile2 (Non-Privileged).pst

yes, I will take this -- Susan, please call me and let me know when you might have a few minutes later this afternoon to bring me up to speed -- thanks, Bob

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Thursday, January 24, 2002 9:59 AM
To:	Bruce, Robert
Cc:	Bailey, Susan
Subject:	FW: Forest Products Trading Counterparties

Bob:

Can you please handle for EIM?  Susan has a lot of information.  Also, it is my understanding that any information going out the door must be logged in by Raz.  Thanks.  Sara

 -----Original Message-----
From: 	Newbrough, Jennifer
Sent:	Thursday, January 24, 2002 9:53 AM
To:	Bailey, Susan; Shackleton, Sara
Subject:	RE: Forest Products Trading Counterparties

I have attached a file which shows the information we would like to send to International Paper regarding counterparties.  It includes a description of the company (but not the name), the % of total tons traded and the credit rating of the counterparty.  Can you let me know if you think this information can be given to a third party under the confidentiality provisions mentioned below?  Please let me know.

Thanks,
Jennifer

 << File: counterparties1.xls >>

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Friday, January 18, 2002 4:53 PM
To:	Newbrough, Jennifer
Cc:	Shackleton, Sara
Subject:	RE: Forest Products Trading Counterparties

Jennifer,

I have completed my review of the selected Forest Products counterparties listed in your email request of January 15th.   My review focused on the "Confidentiality" provision contained in either the Master Agreement or the Confirmation(s), being the documentation which established the trading relationship with either Enron North America Corp. ("ENA") or Enron Canada Corp. ("ECC").   I was asked to determine if the "Confidentiality" provision in our trading documents would prohibit ENA and/or ECC from disclosing to third parties: (a) "the existence of a Master Agreement" or (b) "the existence of a transaction under a Confirmation".

Conclusion:  Whether the trading relationship was established under a Master Agreement or under the Confirmation(s) -- the "Confidentiality" language employed by ENA and ECC prohibits the public disclosure relating to the Master Agreement or to the Confirmation(s).   Therefore, if ENA and/or ECC desire to public disclose "the existence of a Master Agreement" or "the existence of a transaction under a Confirmation" -- ENA and/ECC must first secure the prior consent of any counterparty before public disclosure to third party can be made.

For your convenience, attached are my findings as set forth in the following:

1.	Master Agreement List for the Forest Products Trading Counterparties, along with the forms of "Confidentiality" provisions:

 << File: master agreement list (forest products counterparty).doc >>                 << File: confidentiality - master (standard provision).doc >>                    << File: confidentiality-master (non-standard provision).doc >>
2.	Forest Products Trading Counterparties without a Master Agreement, along with the "Confidentiality" provision:

 << File: non master agreement  list (forest products counterparty).doc >>                  << File: confidentiality - confirms (standard provision).doc >>

If I can be of further assistance, please let me

1400 Smith Street
1400 Smith Street, Suite 3803


Message-ID: <18581754.1075853156973.JavaMail.evans@thyme>
Date: Wed, 3 Oct 2001 14:05:01 -0700 (PDT)
From: nyree.chanaba@enron.com
To: monika.causholli@enron.com
Subject: FW: revised htl itin
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Chanaba, Nyree </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NCHANAB>
X-To: Causholli, Monika </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mcaushol>
X-cc:
X-bcc:
X-Folder: \MCAUSHOL (Non-Privileged)\Deleted Items
X-Origin: Causholli-M
X-FileName: MCAUSHOL (Non-Privileged).pst

revised.

-----Original Message-----
From: Teresa Robertson [mailto:teresa.robertson@travelpark.com]
Sent: Wednesday, October 03, 2001 2:03 PM
To: Chanaba, Nyree
Subject: revised htl itin

                                          AGENT TR/TR BOOKING REF ZNUHAJ

                                          ENRON NORTH AMERICA
                                          CAUSHOLLI/MONIKA
                                          3WTC0306
  ENRON CORP                              INTEROFFICE ETKT RCPT

  DATE:  OCT 03 2001

HOTEL                 21OCT CORONADO BAY RESORT
                      23OCT 4000 CORONADO BAY ROAD
                            CORONADO, CA 92118
                            UNITED STATES OF AMERICA
                            TELEPHONE: 619 424 4000
                            FAX: 619 424 4400
                            CONFIRMATION: 95683347
                            REFERENCE: A0DAD2
                            SINGLE ROOM KING SIZE BED
                            RATE: *** USD 160.00 PER NIGHT
                            GUARANTEE GIVEN
                            ENRON CORP RQST NONSMKG KING
         TO AVOID BILLING CANCEL BY 6PM 2 DAYS PRIOR TO ARRIVAL

MISCELLANEOUS         20FEB HOUSTON TX
                      WED   ** THANK YOU FOR USING THE TAP **

CAUSHOLLI/MONIKA  S5C0413R1073

ASSISTANT:ANNA MEHRER 503 464-7698
*******************************************
INTL TVLRS: CARRY SOS WALLET CARD W/ENRON ASSISTANCE INFO
CALL SOS MEDICAL EMERGENCY:IN U.S 800 523-6586
CALL SOS MEDICAL EMERGENCY:INTL 215 245-4707 (COLLECT)
*********************************************
ALL FARES ARE SUBJECT TO CHANGE UNTIL TICKETED/PURCHASED

Teresa

-----Original Message-----
From: Chanaba, Nyree [mailto:Nyree.Chanaba@ENRON.com]
Sent: Wednesday, October 03, 2001 1:53 PM
To: Teresa Robertson
Subject: RE: htl itin

Thank you Teresa,

Can we change the arrival to 10/21?  Please.

Thank you,
Nyree

-----Original Message-----
From: Teresa Robertson [mailto:teresa.robertson@travelpark.com]
Sent: Wednesday, October 03, 2001 10:57 AM
To: Chanaba, Nyree
Subject: htl itin

                                          AGENT TR/TR BOOKING REF ZNUHAJ

                                          ENRON NORTH AMERICA
                                          CAUSHOLLI/MONIKA
                                          3WTC0306
  ENRON CORP                              INTEROFFICE ETKT RCPT

  DATE:  OCT 03 2001

HOTEL                 20OCT CORONADO BAY RESORT
                      23OCT 4000 CORONADO BAY ROAD
                            CORONADO, CA 92118
                            UNITED STATES OF AMERICA
                            TELEPHONE: 619 424 4000
                            FAX: 619 424 4400
                            CONFIRMATION: 95683347
                            REFERENCE: A0DAD2
                            SINGLE ROOM KING SIZE BED
                            RATE: *** USD 160.00 PER NIGHT
                            GUARANTEE GIVEN
                            ENRON CORP RQST NONSMKG KING
             TO AVOID BILLING CANCEL 48HRS PRIOR TO ARRIVAL
    LOWER HOTEL RATES MAY BECOME AVAILABLE. PLEASE INQUIRE AT CHK IN

MISCELLANEOUS         20FEB HOUSTON TX
                      WED   ** THANK YOU FOR USING THE TAP **

CAUSHOLLI/MONIKA  S5C0413R1073

ASSISTANT:ANNA MEHRER 503 464-7698
*******************************************
INTL TVLRS: CARRY SOS W


Message-ID: <13250691.1075860321431.JavaMail.evans@thyme>
Date: Mon, 5 Feb 2001 04:16:00 -0800 (PST)
From: mark.taylor@enron.com
To: louise.kitchen@enron.com
Subject: Last year's American Arbitration Association Board elections -
 press release
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Mark Taylor
X-To: Louise Kitchen
X-cc:
X-bcc:
X-Folder: \Mark_Taylor_Jun2001\Notes Folders\Sent
X-Origin: Taylor-M
X-FileName: mtaylor.nsf

Contact:
Toni L. Griffin
Vice President of Corporate Communications
212.716.3975=20
For Immediate Release=20
AMERICAN ARBITRATION ASSOCIATION ELECTS NEW MEMBERS TO BOARD OF DIRECTORS A=
ND=20
EXECUTIVE COMMITTEE=20
NEW YORK, May 2, 2000 -- Thirteen distinguished business, legal and dispute=
=20
resolution professionals were elected to the Board of Directors of the=20
American Arbitration Association at its annual meeting held April 27 in New=
=20
York, according to William K. Slate II, president and chief executive offic=
er=20
of the Association.=20
In addition, four current board members were elected to serve on the=20
Executive Committee of the Board of Directors. Jerry M. Hunter, Esq., Bryan=
=20
Cave LLP; Richard K. Jeydel, Senior Vice President, Secretary and General=
=20
Counsel, Kanematsu USA Inc.; Richard W. Page, Esq., The Page Firm; and Mark=
=20
A. Roesler, Chairman and Chief Executive Officer, CMG Worldwide, Inc.=20
The newly elected members of the board are: George F. Becker, President,=20
United Steelworkers of America, AFL-CIO, CLC; John Beechey, Esq., Clifford=
=20
Chance LLP; Jose M. de Lasa, Senior Vice President, Secretary and General=
=20
Counsel, Abbott Laboratories; Robert A. Georgine, Chairman, President and=
=20
CEO, The Union Labor Life Insurance Company (ULLICO); Gilberto Giusti, Esq.=
,=20
Pinheiro Neto-Advogados; Olivia F. Kirtley, CPA, Vice President, Vermont=20
American Corporation; Angel Mu=0Foz-Noya, Esq., Lespier & Mu=0Foz-Noya; Dr.=
 Joan=20
Parker, labor-management and employment arbitrator; Dr. Alejandro Ponieman,=
=20
Asociacion Interamericana de Mediacion Centro Para la Resolucion de=20
Conflictos; Dennis Rivera, President, 1199 SEIU New York's Health & Human=
=20
Service Union, AFL-CIO; Juan Rodriguez, Legal Advisor, BP Amoco p.l.c.;=20
Professor Theodore J. St. Antoine, James E. and Sarah A. Degan Professor=20
Emeritus of Law, University of Michigan Law School; and Timothy J. Sullivan=
,=20
President, the College of William and Mary.=20
The leader in conflict management since 1926, the American Arbitration=20
Association is a not-for-profit, public service organization dedicated to t=
he=20
resolution of disputes through the use of arbitration, mediation,=20
conciliation, negotiation, democratic elections, and other voluntary=20
procedures. In 1999, more than 140,000 cases were filed with the American=
=20
Arbitration Association in a full range of matters including commercial=20
finance, construction, labor and employment, environmental, health care,=20
insurance, real estate and securities disputes. Through 37 offices in the=
=20
United States and cooperative agreements with arbitral institutions in 38=
=20
other countries, the AAA provides a forum for the hearing of disputes, rule=
s=20
and procedures and a roster of impartial experts to hear and resolve cases.


Message-ID: <23478700.1075863723630.JavaMail.evans@thyme>
Date: Fri, 23 Jun 2000 10:16:00 -0700 (PDT)
From: michelle.cash@enron.com
To: ted.bland@enron.com, ryan.seleznov@enron.com, mary.joyce@enron.com,
	cynthia.barrow@enron.com, brad.coleman@enron.com,
	brian.schaffer@enron.com
Subject: Re: AESOP Language
Cc: sharon.butcher@enron.com, kriste.sullivan@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: sharon.butcher@enron.com, kriste.sullivan@enron.com
X-From: Michelle Cash
X-To: Ted C Bland, Ryan Seleznov, Mary Joyce, Cynthia Barrow, Brad Coleman, Brian Schaffer
X-cc: Sharon Butcher, Kriste Sullivan
X-bcc:
X-Folder: \Michelle_Cash_Dec2000\Notes Folders\Sent
X-Origin: Cash-M
X-FileName: mcash.nsf

Enclosed is new language for offer letters regarding the AESOP.

Let me know if you have any questions.

Michelle

------------------------------------------------------------------------------
---------------------------

Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas  77002
(713) 853-6401
michelle.cash@enron.com

This message may contain confidential information that is protected by the
attorney-client and/or work product privileges.
----- Forwarded by Michelle Cash/HOU/ECT on 06/23/2000 05:14 PM -----

	FMackin@aol.com
	06/21/2000 10:55 AM

		 To: Michelle.Cash@enron.com
		 cc:
		 Subject: Re: AESOP Language

Michelle,

The new program still needs final approval by the Enron Corp. board of
directors.  The design was tentatively approved last month, subject to final
review.  The following revised provision should serve you well in the
meantime:

All-Employee Stock Option Program

Enron Corp. has previously awarded stock options to full time and part-time
regular employees in designated domestic and international locations through
the All Employee Stock Option Program (AESOP).  Stock option grants were made
under this program to eligible employees hired prior to January 1, 2000.  The
grants represented value for the time period of 12/31/94 through 12/31/00 or
a pro-rata portion if hired after 12/31/94.  Subject to final approval by the
Enron Corp. board of directors, a one time award of non-qualified stock
options under a replacement program is proposed to be made to eligible
employees as of December 29, 2000, in value equal to 25% of annual base
salary (5% of annual base salary for a 5-year period; salary valuation and
value may vary in some international locations).  Program awards are subject
to and effective upon the approval by the Compensation and Management
Development Committee of the Enron Corp. Board of Directors.  Such stock
awards will be made pursuant to the appropriate Enron Corp. Stock Plan as
determined by the Committee.  The exercise price for grants of stock options
will be determined according to the provisions of the Stock Plan under which
the award is granted.  The program may or may not be offered in certain
domestic and international locations based upon management discretion and/or
local labor and employment laws.


Message-ID: <11546217.1075847399004.JavaMail.evans@thyme>
Date: Fri, 16 Feb 2001 10:18:00 -0800 (PST)
From: richard.sage@enron.com
To: sara.shackleton@enron.com
Subject: Re: Confidentiality Agreement with Scana
Cc: guenther.klar@enron.com, denis.o'connell@enron.com, tana.jones@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: guenther.klar@enron.com, denis.o'connell@enron.com, tana.jones@enron.com
X-From: Richard Sage
X-To: Sara Shackleton
X-cc: Guenther Klar, Denis O'Connell, Tana Jones
X-bcc:
X-Folder: \Tanya_Jones_June2001\Notes Folders\Notes inbox
X-Origin: JONES-T
X-FileName: tjones.nsf

Sara,
Sorry, I was too assiduous in deleting what I thought would be duplicated on
this thread, so I'm working from memory on comments before Guenther's last
contribution.

Data for pricing is owned by Enron Credit Ltd (generated by employees of
Enron Power Operations Ltd whose costs are charged to ECL)
Information deals are done with ECL (Derivative transactions are currently
with Enron North America Corp, probably with Enron Credit Inc in the future)
The Enron staff who would be looking at this are employed by Enron North
America Corp which is why I suggested ENAC as the named party.
They clearly act for ECL on information deals.
If it's OK to use ECL then that would be easier for us.

I have no objections to suggestions that I should be promoted! In the
meantime, I am a board director of ECL and have both legal and group
management authority to sign contracts (with a lawyer's initials being a
prerequisite).

Regards,
Richard

From: Sara Shackleton on 16/02/2001 08:44 CST
To: Guenther Klar/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT

Subject: Re: Confidentiality Agreement with Scana

Guenther:

Thanks for the response.  I'll wait to hear from Richard Sage as to who owns
the information.
Only officers at the VP level or higher may execute binding contracts for all
Enron U.S. companies (bylaws).  I do not know the "rule" for non-U.S.
companies (although I suspect the articles of association would contain that
information).

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

	Guenther Klar
	02/16/2001 08:24 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Janine Juggins/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement with Scana

Sara

You are right about the tax issue - in fact, we are in the process of
replacing the UK directors and officers of Enron Credit Inc with US directors
and officers.

The entity that signs up to the confidentiality agreement ought to be the one
that owns the information to be supplied.  Based on conversations I have had
with Richard Sage, I had formed the impression that the owner of the
information was Enron Credit Ltd.  If this is right, we should pursue your
first suggestion.  Otherwise, given that the tax issue is being rectified and
this should therefore be an isolated incident, I think we can wear the tax
risk inherent in your second suggestion.  Though I do wonder whether an
officer of Enron Credit Inc, such as Richard Sage (currently), could sign,
rather than a director?

Kind regards

Guenther Klar


Message-ID: <27867469.1075846686393.JavaMail.evans@thyme>
Date: Wed, 3 May 2000 07:09:00 -0700 (PDT)
From: swatson@socalgas.com
To: jleslie@luce.com, jeffery.fawcett@enron.com, bcherry@sempra.com
Subject: RE: Core Aggregator Testimony in Support of Settlement
Cc: tomb@crossborderenergy.com, counihan@greenmountain.com, paulamirault@aec.ca,
	mday@gmssr.com, alexanms@sce.com, rochmanm@spurr.org,
	rmp@cpuc.ca.gov, kmccrea@sablaw.com, johnj@bcjlaw.com,
	jmpa@dynegy.com, jdasovic@enron.com, rfoss@coral-energy.com,
	eke@aelaw.com, porterdk@sce.com, david.bayless@utility.com,
	douglass@arterhadden.com, craigc@calpine.com,
	bdingwall@unitedgas.com, trdill@westernhubs.com,
	jfossum@westernhubs.com, rshively@enerdynamics.com,
	wsakarius@sdge.com, tbrill@sempra.com, swatson@socalgas.com,
	rmorrow@socalgas.com, rpurves@sdge.com, llorenz@socalgas.com,
	jteeter@sdge.com, jharrigan@socalgas.com, enelson@socalgas.com,
	dfollett@sempra.com, tp2jxv@socalgas.com, susan.scott@enron.com,
	mbaldwin@igservice.com
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
Bcc: tomb@crossborderenergy.com, counihan@greenmountain.com, paulamirault@aec.ca,
	mday@gmssr.com, alexanms@sce.com, rochmanm@spurr.org,
	rmp@cpuc.ca.gov, kmccrea@sablaw.com, johnj@bcjlaw.com,
	jmpa@dynegy.com, jdasovic@enron.com, rfoss@coral-energy.com,
	eke@aelaw.com, porterdk@sce.com, david.bayless@utility.com,
	douglass@arterhadden.com, craigc@calpine.com,
	bdingwall@unitedgas.com, trdill@westernhubs.com,
	jfossum@westernhubs.com, rshively@enerdynamics.com,
	wsakarius@sdge.com, tbrill@sempra.com, swatson@socalgas.com,
	rmorrow@socalgas.com, rpurves@sdge.com, llorenz@socalgas.com,
	jteeter@sdge.com, jharrigan@socalgas.com, enelson@socalgas.com,
	dfollett@sempra.com, tp2jxv@socalgas.com, susan.scott@enron.com,
	mbaldwin@igservice.com
X-From: "Watson, Steven - TP2SAW" <SWatson@socalgas.com>
X-To: "'Leslie, John'" <jleslie@LUCE.com>, "'Jeffery.Fawcett@enron.com'" <Jeffery.Fawcett@enron.com>, "Cherry, Brian - TPBKC" <BCherry@sempra.com>
X-cc: Tom Beach <tomb@crossborderenergy.com>, Rick Counihan <counihan@greenmountain.com>, Paul Amirault <PaulAmirault@aec.ca>, Mike Day <mday@gmssr.com>, Mike Alexander <alexanms@sce.com>, Michael Rochman <rochmanm@spurr.org>, Mark Pocta <rmp@cpuc.ca.gov>, Keith McCrea <kmccrea@sablaw.com>, John Jimison <johnj@bcjlaw.com>, Joe Paul <jmpa@dynegy.com>, Jeff Dasovich <jdasovic@enron.com>, Rob Foss <rfoss@coral-energy.com>, Evvie Elsesser <eke@aelaw.com>, Doug Porter <porterdk@sce.com>, David Bayless <david.bayless@utility.com>, Dan Douglass <douglass@arterhadden.com>, Craig Chancellor <craigc@calpine.com>, B Dingwall <bdingwall@unitedgas.com>, Tom Dill <trdill@westernhubs.com>, Jim Fossum <jfossum@westernhubs.com>, Bob Shively <rshively@enerdynamics.com>, Wayne Sakarius <WSakarius@sdge.com>, "Brill, Thomas R." <TBrill@sempra.com>, "Watson, Steven - TP2SAW" <SWatson@socalgas.com>, "Morrow, Rick - TP3RMM" <RMorrow@socalgas.com>, "Purves, Ralph A." <RPurves@sdge.com>, "Lorenz, Lad - TPLPL" <LLorenz@socalgas.com>, "Teeter, James S." <JTeeter@sdge.com>, "Harrigan, James P. - TP1JPH" <JHarrigan@socalgas.com>, "Nelson, Eric B. - TPEBN" <ENelson@socalgas.com>, "Follett, B. David - TPDBF" <DFollett@sempra.com>, "Van Lierop, Jan - TP2JXV" <tp2jxv@socalgas.com>, susan.scott@enron.com, mbaldwin@igservice.com
X-bcc:
X-Folder: \Susan_Scott_Dec2000_June2001_1\Notes Folders\Discussion threads
X-Origin: SCOTT-S
X-FileName: sscott3.nsf

I only suggest one change on page 14 which uses the more specific language
from the settlement.? I had to strain to find anything to comment on.? Looks
good to me although others from SCG may have other comments.

-----Original Message-----
From: Leslie, John [mailto:jleslie@LUCE.com]
Sent: Wednesday, May 03, 2000 9:26 AM
To: 'Jeffery.Fawcett@enron.com'; bcherry@sempra.com
Cc: Tom Beach; Rick Counihan; Paul Amirault; Mike Day; Mike Alexander;
Michael Rochman; Mark Pocta


Message-ID: <9219155.1075842242913.JavaMail.evans@thyme>
Date: Sun, 22 Apr 2001 10:29:00 -0700 (PDT)
From: phil.demoes@enron.com
To: les.webber@enron.com, dan.hyvl@enron.com, mark.breese@enron.com
Subject: FW: Revision to Paragraph 1 of Enron Letter Agreement
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Phil DeMoes
X-To: Les Webber, Dan J Hyvl, Mark Breese
X-cc:
X-bcc:
X-Folder: \Dan_Hyvl_Dec2000_June2001\Notes Folders\All documents
X-Origin: HYVL-D
X-FileName: dhyvl.nsf

Additional language per my email today.
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 04/22/2001
05:28 PM ---------------------------

"Kilpatrick, Alan M." <AMKilpat@southernco.com> on 04/20/2001 10:22:12 AM
To: "Phil DeMoes (E-mail)" <phil.demoes@enron.com>
cc:

Subject: FW: Revision to Paragraph 1 of Enron Letter Agreement

Please see changes below that we discussed.

Alan Kilpatrick --- * - 205/257-6143 --- * - 250/257-7795 ---  * -
amkilpat@southernco.com <mailto:amkilpat@southernco.com>

-----Original Message-----
From: Bailey, Donna [SMTP:dbailey@balch.com]
<mailto:[SMTP:dbailey@balch.com]>
Sent: Friday, April 20, 2001 9:31 AM
To: Alan M. Kilpatrick
Subject: Revision to Paragraph 1 of Enron Letter Agreement

Alan, as we discussed. <<F89J01_.doc>>

Donna J. Bailey
Balch & Bingham llp
1710 Sixth Avenue North
Birmingham, Alabama 35203-2015
(205) 226-3451 -- direct dial
(205) 226-8798 -- facsimile
dbailey@balch.com <mailto:dbailey@balch.com>
website address: www.balch.com <http://www.balch.com>
This transmission is intended for the sole use of the addressee, and may
contain information that by its privileged and confidential nature is exempt
from disclosure under applicable law. You are hereby notified that any
dissemination, distribution or duplication of this transmission by someone
other than the intended recipient or its designated agent is strictly
prohibited. If you have received this transmission in error, please notify
the sender immediately by replying to this transmission, or by collect call
to the above phone number.

 - F89J01_.doc

Phil DeMoes
Les Webber, Dan J Hyvl, Mark Breese


Message-ID: <23007621.1075840622101.JavaMail.evans@thyme>
Date: Tue, 12 Dec 2000 04:18:00 -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
Subject: DJ US Southwest Pwr Mkt Rises On Unit Outage, CalPX Chaos
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
X-cc:
X-bcc:
X-Folder: \mark guzman 6-28-02\Notes Folders\All documents
X-Origin: GUZMAN-M
X-FileName: mark guzman 6-28-02.nsf

---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/12/2000 12:26
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     12/12/2000 10:51 AM

To: undisclosed-recipients:;
cc:
Subject: DJ US Southwest Pwr Mkt Rises On Unit Outage, CalPX Chaos

17:13 GMT 12 December 2000 DJ US Southwest Pwr Mkt Rises On Unit Outage,
CalPX Chaos
NEW YORK (Dow Jones)--Prices for prescheduled power in the southwestern U.S.
rose Tuesday due to a unit outage and uncertainty about the market rules of
the California Power Exchange, traders said.
The 498-megawatt San Juan coal-fired unit 4 in New Mexico tripped off the
grid Monday due to a tube leak, but it is expected back on line Tuesday
night.
Traders also said total uncertainty about the market rules in California
have thrown the market into chaos. On Sunday, the California Power Exchange
cleared power sales at prices above $250/MWh because the Federal Energy
Regulatory Commission approved an emergency request from the California
Independent System Operator to move to a new "soft" price cap.
The ISO asked to be able to purchase power for more than $250 a
megawatt-hour, so long as any seller agrees to provide documentation on
costs to justify the high price. In time, the FERC could reduce prices for
any sales above $250/MWh if the FERC deems the price unreasonable, according
to the "soft" cap rules originally proposed by FERC.
The CalPX says that its day-ahead market has also moved to the soft price
cap, but the ISO on Sunday constrained almost all CalPX prices for Monday
down to $250/MWh, from an average of $611.53/MWh. The ISO staff and middle
managers apparently don't believe the new soft-cap applies to the CalPX
market, though late Monday the ISO constrained some prices for Tuesday down
to $250-$500/MWh but left the CalPX clearing prices for nine hours unchanged
at $926.34-$1,020.99/MWh.
Traders said Tuesday that no ISO constrained pricing formula comes up with
even figures as $280/MWh and $500/MWh, and that somebody at the ISO is just
making up prices arbitrarily.
With all the uncertainty about what final prices will be, suppliers avoided
the CalPX market Monday and Tuesday. With fewer sell offers and steady
demand, the CalPX has risen sharply higher than the bilateral market. The
much-higher CalPX clearing prices Monday, in turn, pushed the southwest
bilateral market higher early Tuesday, traders said

               On-Peak/MWh          1 Day Previous
Palo Verde    $  400.00-$  520.00  $  300.00-$  375.00
Mid-Columbia     650.00-   850.00     750.00- 1,000.00
COB              600.00-   800.00     700.00-   900.00

After the bilateral market completed most of its trading, the CalPX posted
Wednesday on-peak clearing prices that averaged $1,406.76/MWh, up $417. How
the ISO may change those prices later Tuesday is unknown. The CalPX made an
emergency filing late Monday with the FERC to include its market in the new
"soft" cap rules.
-By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com

(


Message-ID: <19895387.1075843429953.JavaMail.evans@thyme>
Date: Mon, 16 Apr 2001 10:31:00 -0700 (PDT)
From: jeff.dasovich@enron.com
To: asama@yahoo.com
Subject: RE: OAT Valuation Model
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Jeff Dasovich
X-To: Anil Sama <asama@yahoo.com>
X-cc:
X-bcc:
X-Folder: \Jeff_Dasovich_June2001\Notes Folders\All documents
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

Having worked with you on the Perfect project, I now know that your power
point skills are legendary.  Would you mind volunteering to coordinate
putting all the stuff in to power point?

	Anil Sama <asama@yahoo.com>
	04/16/2001 04:24 PM

		 To: "Vavrek, Carolyn \(US - San Francisco\)" <cvavrek@deloitte.com>,
Jeff.Dasovich@enron.com, "'Mark Guinney'" <Mark_Guinney@watsonwyatt.com>
		 cc:
		 Subject: RE: OAT Valuation Model

Nice job Jeff!
I can meet Tuesday evening, Sat PM, or Sunday.
-Anil
  "Vavrek, Carolyn (US - San Francisco)" <cvavrek@deloitte.com> wrote:
Jeff - Thanks for putting so much work into this. Excellent job!

I agree that we should figure out when we can meet again. I can meet
tonight, during break on Tuesday and basically anytime on Saturday or
Sunday. During break on Thursday I volunteered to help Diane with a new
student's reception, but I can cancel that if need be. What does everyone
else's schedule look like?

Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA 94105

phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com

-----Original Message-----
From: Jeff.Dasovich@ENRON.com [mailto:Jeff.Dasovich@ENRON.com]
Sent: Monday, April 16, 2001 8:56 AM
To: 'asama@yahoo.com'; 'Mark Guinney'; Cvavrek
Subject: OAT Valuation Model

----- Forwarded by Jeff Dasovich/NA/Enron! on 04/16/2001 10:53 AM -----

Jeff Dasovich

Sent by: Jeff To: "Sama, Anil"

Dasovich cc: "'asama@yahoo.com'"
,
Jeff.Dasovich@enron.com, "'Mark
Guinney'"

04/16/2001 Subject: OAT Valuation
Model(Document link:
10:52 AM Jeff Dasovich)

OK folks. It's about 80% of the way there. My brains are oozing out
looking at cells, so I want to get this around so Mark can get started on
refining assumptions and other folks can examine as well. I'll continue to
check it and de-bug it. Mark, you and I should talk, too. (You'll note
that at this point, the valuation is in the $30s, so there's work to do.)
Apologies in advance for any errors (and I'm sure they're there).

If anyone has any questions on the model, just let me know.

I think we ought to get together to meet this week as much as possible to
start g! etting the power point presentation together. And perhaps we should
think about meeting this weekend?

In the meantime, I'm pulling together the data on Buffet (Berkshire
Hathaway) stock performance, etc., and will also do the financial ratios,
including Dupont, for OAT.

Does this work for folks? Other thoughts?

Best,
Jeff
(See attached file: OAT Valuation 0416.xls)

This message (including any attachments) contains confidential information
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you are not the intended recipient, you should delete this message and are
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Message-ID: <28605936.1075844232206.JavaMail.evans@thyme>
Date: Mon, 9 Apr 2001 10:25:00 -0700 (PDT)
From: michael.tribolet@enron.com
To: vicki.sharp@enron.com, mike.smith@enron.com, travis.mccullough@enron.com,
	elizabeth.sager@enron.com, richard.sanders@enron.com,
	james.steffes@enron.com, richard.shapiro@enron.com,
	greg.whalley@enron.com, john.lavorato@enron.com,
	susan.mara@enron.com, jeff.dasovich@enron.com
Subject: FW: PGE Bankruptcy motions
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Michael Tribolet
X-To: Vicki Sharp, Mike D Smith, Travis McCullough, Elizabeth Sager, Richard B Sanders, James D Steffes, Richard Shapiro, Greg Whalley, John J Lavorato, Susan J Mara, Jeff Dasovich
X-cc:
X-bcc:
X-Folder: \Richard_Shapiro_June2001\Notes Folders\Discussion threads
X-Origin: SHAPIRO-R
X-FileName: rshapiro.nsf

fyi
 -----Original Message-----
From:  "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>@ENRON
[mailto:IMCEANOTES-+22JOHN+20G+20KLAUBERG+22+20+3CJKLAUBER+40LLGM+2ECOM+3E+40E
NRON@ENRON.com]
Sent: Monday, April 09, 2001 5:01 PM
To: Tribolet, Michael
Cc: CARL A. EKLUND; JAMES L. HUEMOELLER
Subject: Fwd: PGE

Michael:  as you know, one of my SF bankruptcy partners, Ben Young, attended
the PG&E hearing today.  Here is a quick synopsis.  Could you please
distribute as appropriate.  John

==============================================================================
This e-mail, including attachments, contains information that is confidential
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==============================================================================
Content-Transfer-Encoding: quoted-printable
Date: Mon, 09 Apr 2001 15:46:25 -0400
From: "BENNETT G. YOUNG" <BYOUNG@LLGM.COM>
To: ceklund@llgm.com, "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>, "JAMES L.
HUEMOELLER" <JLHUEMOE@LLGM.COM>
Subject: PGE
MIME-Version: 1.0
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I attended the hearings on PGE's two cash collateral motions today.  Both
were granted on an interim basis.  The court set a final hearing for May 9 at
9:30 am.  PGE is to file its pleadings by April 20 and any opposition is due
by May 4.

The bondholder cash collateral motion was heard first.  There was no
opposition and the bond trustee (Bank of New York) consented to the relief.
BONY and PGE are working on a final cash collateral stipulation.

Next was the gas supplier motion.  PGE mentioned in its presentation that the
basis of the pre-petition agreement was the waiver of termination rights in
the event of bankruptcy by the suppliers in return for a security interest in
the receivables.  Jim Lopes, PGE's lawyer, mentioned that he had learned a
great deal about Bankruptcy Code section 556 in the last few months.  Judge
Montali nodded his head at that comment.  Montali also asked whether PGE
conceded that 556 applied.  Lopes answered that he did not concede that it
applied, but he was "very concerned."

I asked whether the post-petition security interest was available to
suppliers that were not parties to the pre-petition agreements.  The Court
said that was up to PGE; Lopes said they were willing to talk about it, but
they did not want to grant liens to all of their creditors and hoped
creditors would rely on their administrative claims, which PGE believes will
be paid in the ordinary course.  Procedurally, the Court said it would not
authorize any new security interests on the basis of the interim order
resulting from today's hearing.  Instead, that would have to


Message-ID: <28579976.1075858555136.JavaMail.evans@thyme>
Date: Tue, 10 Jul 2001 07:31:39 -0700 (PDT)
From: gerald.nemec@enron.com
To: alisha.mahabir@enron.com
Subject: FW: Re: Confidentiality Agreement
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Nemec, Gerald </O=ENRON/OU=NA/CN=RECIPIENTS/CN=GNEMEC>
X-To: Mahabir, Alisha </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Amahabir>
X-cc:
X-bcc:
X-Folder: \Nemec, Gerald (Non-Privileged)\Nemec, Gerald\Sent Items
X-Origin: Nemec-G
X-FileName: Nemec, Gerald (Non-Privileged).pst

This will be a unilateral not bilateral as stated in the email.

 -----Original Message-----
From: 	Bennett, Peter
Sent:	Monday, July 09, 2001 1:33 PM
To:	Nemec, Gerald
Cc:	Hilgert, Chris
Subject:	Re: Confidentiality Agreement
Importance:	High

Gerald,

We would like to put in place a bilateral confidentially agreement between ECS and Ormat to discuss our Structured Horsepower Concept. In the near future, we would like to amend this agreement to discuss specific deals with Ormat that we are considering. The information for Ormat is below.

Thanks,
Peter

Ormat
H.M. Leibowitz
980 Greg Street
Sparks , NV 89431-6039

(775) 356-9029
hleibowitz@ormat.com


Message-ID: <33399644.1075842818669.JavaMail.evans@thyme>
Date: Thu, 5 Apr 2001 07:56:00 -0700 (PDT)
From: chris.hilgert@enron.com
To: gerald.nemec@enron.com
Subject: RE: Power Engineers CA
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Chris Hilgert
X-To: Gerald Nemec
X-cc:
X-bcc:
X-Folder: \Gerald_Nemec_Dec2000_June2001_2\Notes Folders\Notes inbox
X-Origin: NEMEC-G
X-FileName: gnemec.nsf

Gerald,

I talked with Kurt on this and I told him that we would delete the sentence
for Section 3 as it seemed redundant.  He agreed that we would leave sections
6 and 9 alone.  If you concur, would you please put together execution copies
for me to sign and get out.  If not let's discuss and push this forward.

Chris
----- Forwarded by Chris Hilgert/HOU/ECT on 04/05/2001 02:52 PM -----

	Kurt Bell 6343 <kbell@powereng.com>
	03/11/2001 04:49 PM

		 To: "'Chris.Hilgert@enron.com'" <Chris.Hilgert@enron.com>
		 cc:
		 Subject: RE: Power Engineers CA

Chris:

Thanks for preparing the Confidentiality Agreement.  In preparation of our
discussion on Monday, 3/12, I have already received comments back from our
Contracts Department.  Please find the areas in question highlighted in the
attached document.

The items of concern and suggestions for these areas are as follows:

3.  Request deletion of this highlighted portion as it confuses the issue.
Is it that we caused the event that gave rise to the legal action?  Or just
that we disclosed confidential information?  That is unclear, and it is
clear, in other parts of the agreement that the parties agree not to
disclose, so this is repetitive.

6.  The use of the information shall be covered in a project agreement, and
should not be the subject of this agreement.  Please request this provision
is deleted in its entirety.

9.  One arbitrator is enough, unless the parties agree otherwise.  Please
request language is inserted to mean, "If the parties agree they need more
than a single arbitrator, then three shall be chosen."

We are working towards setting up meetings for April.  We can discuss this
on Monday.

Kurt Bell

-----Original Message-----
From: Chris.Hilgert@enron.com [mailto:Chris.Hilgert@enron.com]
Sent: Friday, March 09, 2001 9:51 AM
To: kbell@powereng.com
Subject: Power Engineers CA

Kurt,

Per our discussion, you will find attached a CA to cover our forward
relationship.  Please review and let me know your thoughts at your earliest
convenience.  Let's talk on Monday at a minimum.

Thanks,
Chris
713-853-7350
----- Forwarded by Chris Hilgert/HOU/ECT on 03/09/2001 10:47 AM -----

                    Gerald Nemec

                                         To:     Chris Hilgert/HOU/ECT@ect

                    03/08/2001           cc:

                    03:43 PM             Subject:     Power Engineers CA

Chris,  Attached is the form of CA for Power Engineers, Inc.  Let  me know
if you have any qeustions.

(See attached file: Power Engineers-CA.DOC)

 - Power Engineers-CA _Power Eng Comments.DOC


Message-ID: <32517408.1075861320364.JavaMail.evans@thyme>
Date: Mon, 19 Nov 2001 15:09:22 -0800 (PST)
From: marcus.nettelton@enron.com
To: elizabeth.sager@enron.com
Subject: RE: Conference Call re: Transition of Into Product to MISO
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Nettelton, Marcus </O=ENRON/OU=NA/CN=RECIPIENTS/CN=MNETTELT>
X-To: Sager, Elizabeth </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Esager>
X-cc:
X-bcc:
X-Folder: \ESAGER (Non-Privileged)\Sager, Elizabeth\Inbox
X-Origin: Sager-E
X-FileName: ESAGER (Non-Privileged).pst

Liz

Agreed that all parties would review the proposed framework with traders to try to "fill in the boxes". It was however recognised that there were difficulties in interpreting what was intended by the proposed RTO's and the relationship with the current Into Cinergy market.

AEP viewed that purchase of transmission was the critical area, who had to purchase what and several scenarios to work through. Whether Seller buys a wheel, whether buyer buys a wheel, or under MISO both parties buy a  wheel. This clearly has knock on effect for obligations in respect of firm and non-firm transmission and curtailment. In particular, what if non-firm is elected and how this flows through into obligations of the parties to a transaction.

Perception that the framework prepared by AEP will start all interested parties in the same place to talk about the issues.

It was agreed to try to get a representative from Duke to join the next call as they were an Into Cinergy product trader as well.

The next call was scheduled for November 29th at 10 o clock Eastern time. It was suggested that everyone at least take first page of Mitch's schedule and talk to the traders, since this would probably the best starting point, Mitch encouraged any comments to be shared earlier if possible.

Signed you up for this call in your absence.

Marcus

 -----Original Message-----
From: 	Sager, Elizabeth
Sent:	Monday, November 19, 2001 3:59 PM
To:	Nettelton, Marcus
Subject:	FW: Conference Call re: Transition of Into Product to MISO

Elizabeth Sager
713-853-6349

 -----Original Message-----
From: 	djstephens@aep.com@ENRON
Sent:	Monday, November 19, 2001 1:18 PM
To:	NTillett@reliant.com; drusso@reliantenergy.com; david.perlman@powersrc.com; Sager, Elizabeth; fmdutton@aep.com; nicole.daggs@mirant.com; ntrask@pwrteam.com; ecomer@aep.com; jcrespo@hess.com
Subject:	Conference Call re: Transition of Into Product to MISO

Attached please find a copy of the memo from F. Mitchell Dutton regarding
Into Product Definition and Formation of Regional Transmission Organization
for the 5:00 p.m. (EST) Conference call today.  Please contact Mitch Dutton
at (614) 223-1605 or myself at (614) 324-6843 if you have any questions or
comments.

(See attached file: 87712.DOC)

Thank you,

DJ Stephens

------------------------------------------------------------------------------------------------

This e-mail message from the Legal Department of American Electric
Power is for the sole use of the intended recipient(s) and may contain
confidential and privileged information.  Any unauthorized review, use,
disclosure or distribution is prohibited.  If you are not the intended
recipient, please contact the sender by reply e-mail and destroy all
copies of the original message.
 - 87712.DOC << File: 87712.DOC >>


Message-ID: <9205680.1075855724901.JavaMail.evans@thyme>
Date: Mon, 9 Apr 2001 09:49:00 -0700 (PDT)
From: phillip.allen@enron.com
To: mark.taylor@enron.com
Subject: SanJuan/SoCal spread prices
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Phillip K Allen
X-To: Mark Taylor
X-cc:
X-bcc:
X-Folder: \Phillip_Allen_June2001\Notes Folders\'sent mail
X-Origin: Allen-P
X-FileName: pallen.nsf

---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/09/2001
04:48 PM ---------------------------

Jed Hershey <jhershey@sempratrading.com> on 04/09/2001 02:29:39 PM
To: "'pallen@enron.com'" <pallen@enron.com>
cc:
Subject: SanJuan/SoCal spread prices

The following are the prices you requested.  Unfortunately we are unwilling
to transact at these levels due to the current market volatility, but you
can consider these accurate market prices:

May01-Oct01 Socal/Juan offer:  8.70 usd/mmbtu

Apr02-Oct02 Socal/Juan offer:  3.53 usd/mmbtu

Our present value mark to market calculations for these trades are as
follows:

May01-Oct01 30,000/day @ 0.5975 =  $44,165,200

Apr02-Oct02 @  0.60 =  $5,920,980
Apr02-Oct02 @  0.745 =  $5,637,469
Apr02-Oct02 @  0.55 =  $3,006,092

If you have any other questions call: (203) 355-5059

Jed Hershey

****************************************************************************
This e-mail contains privileged attorney-client communications and/or
confidential information, and is only for the use by the intended recipient.
Receipt by an unintended recipient does not constitute a waiver of any
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employees or agents is strictly prohibited.  If you have received this
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material from your computer.

Sempra Energy Trading Corp. (SET) is not the same company as SDG&E or
SoCalGas, the utilities owned by SET's parent company.  SET is not regulated
by the California Public Utilities Commission and you do not have to buy
SET's products and services to continue to receive quality regulated service
from the utilities.
****************************************************************************


Message-ID: <16191801.1075856759350.JavaMail.evans@thyme>
Date: Thu, 16 Mar 2000 06:34:00 -0800 (PST)
From: vpokhleb@ideaus.com
To: vkamins@enron.com
Subject: IDEA: please take a look
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "Vadim Pokhlebkin" <vpokhleb@ideaus.com>
X-To: <vkamins@enron.com>
X-cc:
X-bcc:
X-Folder: \Vincent_Kaminski_Jun2001_6\Notes Folders\All documents
X-Origin: Kaminski-V
X-FileName: vkamins.nsf

Dear Mr. Kaminski,

Thank you for calling.  Briefly, about IDEAglobal.com: we've been providing
unbiased market analysis since 1989, and today our customers include the
Fed, the US Treasury, the IMF, 25 foreign Central banks, and over 1,700
dealing rooms worldwide.  We emphasize sales and trading strategies rather
than just provide market news.

Attached, please find 2 samples of our daily research: today's issue of our
morning faxes Financial Markets Today and Fixed Income Today.  We also have
intraday market coverage on Bloomberg: IDEA>GO, Reuters, and
Bridge/Telerate.

If the info looks interesting, we would be glad to arrange a 30-day free
trial for you?  For your reference, please see our Price List.  I look
forward to your reply.

Best regards,
Vadim Pokhlebkin
Account Manager
vpokhlebkin@ideaglobal.com
tel. + 1 212 571 4332
fax  + 1 212 571 4334

IDEAglobal.com
140 Broadway, 21st Floor
New York, NY 10005, USA

Any views expressed in this message are those of the individual sender,
except where the sender specifically states them to be the views of
IDEAglobal.com. This email, its content and any files transmitted with it
are intended solely for the addressee(s) and may be legally privileged
and/or confidential. Access by any other party is unauthorized without the
express written permission of the sender. If you have received this email in
error you may not copy or use the contents, attachments or information in
any way. Please destroy it and contact the sender via the IDEAglobal.com
switchboard in one of the following three offices: New York +1 212 571 4332;
London +44 171 430 2888; Singapore +65 332 0700

 - FMT0316A.pdf
 - FIT0316a.pdf
 - onesheet.doc


Message-ID: <16263482.1075858697135.JavaMail.evans@thyme>
Date: Fri, 28 Sep 2001 12:04:01 -0700 (PDT)
From: ray.alvarez@enron.com
To: d..steffes@enron.com
Subject: CA Refund Proceeding- NOx Issue
Cc: richard.shapiro@enron.com, linda.robertson@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: richard.shapiro@enron.com, linda.robertson@enron.com
X-From: Alvarez, Ray </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RALVARE2>
X-To: Steffes, James D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jsteffe>
X-cc: Shapiro, Richard </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rshapiro>, Robertson, Linda </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lrobert3>
X-bcc:
X-Folder: \RSHAPIRO (Non-Privileged)\Shapiro, Richard\Refund Cases
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At my suggestion, and in consultation with Seabron Adamson, one issue we are exploring is how we can deduct our NOx costs from any refund that may be deemed to be due, or make an offer of proof if the Judge doesn't go for it. The generators will be of no help with this, since they have a credit mechanism in the July 25 order that keeps them whole. Marketers do not.

Seab advises that NOx will have a very substantial impact on prices, especially before spring 2001 when the rules were loosened by state order.  In order to proceed, we will need to get a source of data on NOx prices.  I have touched base with Alan Comnes and Mary Schoen on this.  If the idea pans out, we would have to retain an expert.  I will keep you apprised on the need for an expert.  Would also expect that we would want the Marketer Group to kick in before retaining an expert.  What are your thoughts on this?  Ray

-----Original Message-----
From: Dan Watkiss [mailto:dwatkiss@bracepatt.com]
Sent: Friday, September 28, 2001 2:31 PM
To: Alvarez, Ray
Subject: RE: Meeting next week

Ray, should probably check with the home office about whether Enron is interested in fronting this financially alone or whether they want to get a commitment from the marketer group before moving ahead.  Let me know.

Jeffrey D. (Dan) Watkiss
Bracewell & Patterson, LLP
2000 K St., N.W.
Suite 500
Washington, D.C.   20006-1872
(202) 828-5851
dwatkiss@bracepatt.con
jdwatkiss@aol.com

>>> "Alvarez, Ray" <Ray.Alvarez@ENRON.com> 09/28/01 02:26PM >>>
Forwarded the first lead to you this morning- Gary S. Rubenstein of
SIERRA RESEARCH.  I'm waiting to hear back from Mary Schoen for more
leads.

-----Original Message-----
From: Dan Watkiss [mailto:dwatkiss@bracepatt.com]
Sent: Friday, September 28, 2001 12:41 PM
To: Alvarez, Ray; seabron.adamson@frontier-economics.com
Cc: gfergus@brobeck.com
Subject: RE: Meeting next week

I have a conference room reserved and will certainly be back from the
Court argument by then.   Ray, it would be helpful if, by then, you have
some leads from Alan on experts in California NOx trading.

Jeffrey D. (Dan) Watkiss
Bracewell & Patterson, LLP
2000 K St., N.W.
Suite 500
Washington, D.C.   20006-1872
(202) 828-5851
dwatkiss@bracepatt.con
jdwatkiss@aol.com

>>> "Alvarez, Ray" <Ray.Alvarez@ENRON.com> 09/28/01 10:52AM >>>
Seab,  OK by me.  Ray

-----Original Message-----
From: Seabron Adamson [mailto:seabron.adamson@frontiereconomics.com]
Sent: Friday, September 28, 2001 9:39 AM
To: Alvarez, Ray; dwatkiss@bracepatt.com
Cc: gfergus@brobeck.com
Subject: Meeting next week

Dan/Ray:

How about 2:30 at Bracewell next Wednesday (Oct. 3rd)? I am arriving at
Dulles at 1:25 p.m. which should get me into town by then (unless
National
re-opens in which case I'll go that way and will make it easily...).

Gary - I assume you'll still be back on the West Coast but I've copied
you
anyway just in case your plans change.

Seab

This e-mail, and any attachments thereto, is intended only for use by
the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any disse


Message-ID: <24484757.1075845607135.JavaMail.evans@thyme>
Date: Tue, 10 Oct 2000 01:51:00 -0700 (PDT)
From: kay.mann@enron.com
To: rusty.stevens@enron.com, fred.mitro@enron.com
Subject: Schaeffer Property - Livingston County, Illinois
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Kay Mann
X-To: Rusty Stevens, Fred Mitro
X-cc:
X-bcc:
X-Folder: \Kay_Mann_June2001_1\Notes Folders\All documents
X-Origin: MANN-K
X-FileName: kmann.nsf

Hi Guys,

Enron policy requires that the assignment of tasks to outside counsel go
through (or at least be coordinated with) the legal department.  In the
future, please let me know what you need so that there can be some order to
the process.

Did the Fehrs and Ledfords sign the option agreements?

Thank you,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/10/2000 08:47
AM ---------------------------

"Way, Karen S. - CHI" <karen.way@piperrudnick.com> on 10/09/2000 02:52:14 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "'rusty.stevens@enron.com'" <rusty.stevens@enron.com>,
"'fred.mitro@enron.com'" <fred.mitro@enron.com>, "Gershon, Mark A. - CHI"
<Mark.Gershon@piperrudnick.com>, "Townsend, Christopher J. - CHI"
<chris.townsend@piperrudnick.com>, "Shindler, Donald A. - CHI"
<Donald.Shindler@piperrudnick.com>

Subject: Schaeffer Property - Livingston County, Illinois

Kay:

This morning, Rusty requested that we prepare an Option Agreement for the 29
acre parcel west of the Livingston Energy Center.  This property could be
used as a construction laydown site, but more importantly would provide a
sound buffer for the project.  It is our understanding that the Option
Agreement is to be presented to the property owner at some point next week.
We will forward a draft of the agreement to you no later than Monday,
October 16, 2000.  Please feel free to call me or Don Shindler
(312-368-2175) with any questions regarding the agreement.  Best regards.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

____________________________________________________________________________
The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
received this communication in error, please re-send this communication to
the sender and delete the original message and any copy of it from your
computer system.
Thank you.

For more information about Piper Marbury Rudnick & Wolfe, please visit us at
http://www.piperrudnick.com/
____________________________________________________________________________


Message-ID: <4761742.1075844236183.JavaMail.evans@thyme>
Date: Tue, 1 May 2001 03:05:00 -0700 (PDT)
From: jgallagher@epsa.org
To: acomnes@enron.com, bhawkin@enron.com, bmerola@enron.com,
	christi.l.nicolay@enron.com, donna.fulton@enron.com,
	janelle.scheuer@enron.com, jeff_brown@enron.com, jhartso@enron.com,
	jsteffe@enron.com, ray.alvarez@enron.com, rshapiro@enron.com,
	sarah.novosel@enron.com, tom.hoatson@enron.com
Subject: FERC's April 26th Order on California Wholesale Electric	Markets
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "Jackie Gallagher" <JGallagher@epsa.org>
X-To: <acomnes@enron.com>, <bhawkin@enron.com>, <bmerola@enron.com>, <christi.l.nicolay@enron.com>, <donna.fulton@enron.com>, <janelle.scheuer@enron.com>, <jeff_brown@enron.com>, <jhartso@enron.com>, <jsteffe@enron.com>, <ray.alvarez@enron.com>, <rshapiro@enron.com>, <sarah.novosel@enron.com>, <tom.hoatson@enron.com>
X-cc:
X-bcc:
X-Folder: \Richard_Shapiro_June2001\Notes Folders\Discussion threads
X-Origin: SHAPIRO-R
X-FileName: rshapiro.nsf

MEMORANDUM

TO: Regulatory Affairs Committee
Power Marketers Working Group

FROM: Jim Steffes, Regulatory Affairs Committee Chair
Bob Reilley, Power Marketers Working Group Chair
Julie Simon, Vice President of Policy
Erin Perrigo, Manager of Policy

DATE: May 1, 2001

RE: FERC's April 26th Order Establishing Prospective
Mitigation and Monitoring Plan for California Wholesale
Electric Markets

On April 26th, FERC issued an Order Establishing Prospective Mitigation and
Monitoring Plan for the California Wholesale Electric Markets.  EPSA has
previously forwarded FERC's press release outlining the major features of the
Order, along with a brief e-mail explaining one confusing aspect of the
Order.  This memo provides a more in-depth analysis of the Order.  In
addition, we need to consider whether EPSA should seek rehearing or
clarification of any aspect of this Order.  Filings would be due at FERC no
later than Tuesday, May 29th.  Based on a review of the order, there are
issues on which EPSA might seek rehearing, which are outlined below.  We will
discuss these issues on an upcoming weekly conference call.  If you have
additional issues you want EPSA to raise, please forward them to Julie Simon
at 202-628-8200 or at jsimon@epsa.org.

APRIL 26th ORDER

In this Order, the Commission puts into place a market monitoring and
mitigation plan for real-time energy markets in California that is intended
to replace the $150/MWh "breakpoint" plan adopted in the December 15th
Order.  The mitigation plan will go into effect May 29th, with the current
$150/MWh breakpoint and refund approach continued for an additional month.
Except for the demand-side bidding program, the plan will terminate not later
than one year from the date of the Order.  However, the monitoring and
mitigation requirements are contingent on the three California utilities and
the CAISO making an RTO filing, consistent with the requirements of Order No.
2000, by June 1, 2001.

The Order also initiates a Section 206 investigation into the rates, terms
and conditions of public utility sales for resale of electric energy in the
WSCC, other than through the CAISO markets, for all sales in "real-time spot
markets" (defined as up to 24 hours in advance) and when contingency reserves
for any control area fall below 7 percent.

The Commission states that its goal was to address the need for mitigation
"in as market-oriented a manner as possible," so as not to discourage needed
infrastructure investment, while allowing price signals to create demand
response.

The Order includes the following requirements:

1. Coordination and Control of Outages

To ensure adequate capacity, the Order stresses the need for the CAISO and
generators to work cooperatively to schedule unit maintenance and outages.
The Commission stresses that the CAISO's requirements for outage coordination
need to "fost


Message-ID: <2026342.1075862010568.JavaMail.evans@thyme>
Date: Fri, 9 Nov 2001 07:05:05 -0800 (PST)
From: matthew.lenhart@enron.com
To: hfl@fp.edu
Subject: FW: Auburn
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Lenhart, Matthew </O=ENRON/OU=NA/CN=RECIPIENTS/CN=MLENHAR>
X-To: 'hfl@fp.edu'
X-cc:
X-bcc:
X-Folder: \MLENHAR (Non-Privileged)\Lenhart, Matthew\Sent Items
X-Origin: Lenhart-M
X-FileName: MLENHAR (Non-Privileged).pst

this article mentions your chapter of sigma chi.

 -----Original Message-----
From: 	kevin.a.boone@accenture.com@ENRON
Sent:	Friday, November 09, 2001 8:40 AM
To:	Lenhart, Matthew; MMMarcantel@equiva.com; Hull, Bryan
Subject:	FW: Auburn

Regards,

Kevin A. Boone
Accenture -- Houston
Consultant -- Energy
(Octel) 713.837.1638
(Client) 281.848.1619
(C) 713.306.7940
(H) 713.864.4149
Kevin.A.Boone@accenture.com

Our web address is http://www.accenture.com

----- Forwarded by Kevin A. Boone/Internal/Accenture on 11/09/2001 08:39 AM
-----

            Allison Kelly
            <Allison.Kelly@tlcvision.co        To:     ash <ashley_arrington@bbs.bellsouth.com>, Kevin A.
            m>                                 Boone/Internal/Accenture@Accenture, tony
                                               <anthony.w.carter@us.pwcglobal.com>, Westy <wballard@reisscompanies.com>
            11/08/2001 09:47 AM                cc:
                                               Subject:     FW: Auburn

Those crazy kids...

-----Original Message-----
From:     Hansen, Ned [SMTP:NHansen@LucasCareers.com]
<mailto:[SMTP:NHansen@LucasCareers.com]>
Sent:     Thursday, November 08, 2001 8:56 AM
To:  Stratton, Will; Barnhill, Jim
Cc:  allison.kelly@tlcvision.com <mailto:allison.kelly@tlcvision.com>
Subject:

Racist photos of fraternity members
rocks Auburn, brings condemnation
<<...>>
By DREW JUBERA < mailto:djubera@ajc.com <mailto:djubera@ajc.com> >
Atlanta Journal-Constitution Staff Writer
<<...>>
Auburn, Ala. -- When the Southern Poverty Law Center received a call this
week about Internet photos of an Auburn University fraternity member
dressed
as a rifle-toting Klansman pretending to lynch a white student in
blackface,
the staff checked out the photo's date.

"We wanted to verify that it was taken in 2001, not 1951," said Kelvin
Datcher of the center in Montgomery that tracks incidents of bigotry. "The
kids who called us were frantic."

The photo, and others of students in blackface wearing Afros, jewelry and
jerseys with the lettering of a black fraternity, were taken this year at
Halloween parties at two fraternity houses and posted on the Internet by a
party-photo service.

The incident has rocked the campus of more than 22,000 students, which
bills
itself as "the loveliest village on the plain" and says it is intent on
recruiting minorities. As the photos illustrate, a racist, segregated past
is hard to escape.

Students at Auburn and other colleges have no personal memory of Jim Crow
segregation. But when it comes to socializing, many students gravitate
toward those of their own race. And social fraternities and sororities --
many of which used to enforce racial exclusionary clauses -- remain some of
the last bastions of segregationist attitudes.

Last year, when a black freshman applied to the University of Georgia's
all-white Alpha Gamma Delta, most of the members were adamant that she be
rejected. "If we had a black girl in our sorority, none of the fraternities
would want to do anything with us," one was quoted as saying.

That incident came to light because one sorority member, Ali Davis, filed a
racial discrimination complaint. UGA temporarily suspended Alpha Gamma
Delta
during an investigation. Davis, saying she felt ostracized, later left the
school.

Around the country, the Kappa Alpha Order, which is fond of displaying the
Confederate battle flag, has been implicated in various racial incidents in
recent years, the Southern Poverty Law Center re


Message-ID: <26274482.1075844226553.JavaMail.evans@thyme>
Date: Tue, 14 Nov 2000 10:08:00 -0800 (PST)
From: lora.sullivan@enron.com
To: richard.shapiro@enron.com
Subject: Re: Enron Year End 2000 Performance Management Process
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Lora Sullivan
X-To: Richard Shapiro
X-cc:
X-bcc:
X-Folder: \Richard_Shapiro_June2001\Notes Folders\Discussion threads
X-Origin: SHAPIRO-R
X-FileName: rshapiro.nsf

Rick,

Unfortunately, contrary to the performance management system's reply (see
below), performance reviews are not confidential in the DC office as the
office manager has access to the passwords of some of the Vice Presidents.

I would like to comply with your request to give a performance review for
Cynthia Sandherr, but unless I can send it to you in a confidential envelope
I have no guarantee it will not be seen at some point by my colleagues.
(Your are listed as her supervisor according to the PEP system.)  This poses
a problem for me.

Your advice is welcome.

Lora Sullivan
202-466-9142

	PerfMgmt
	Sent by: Sylvia Perez
	11/14/2000 03:30 PM

		 To: Lora Sullivan/Corp/Enron@ENRON
		 cc:
		 Subject: Re: Enron Year End 2000 Performance Management Process

The review will have to be done on the system, it will however remail
confidential.


Message-ID: <8711144.1075844389557.JavaMail.evans@thyme>
Date: Thu, 24 Aug 2000 03:05:00 -0700 (PDT)
From: sara.shackleton@enron.com
To: mark.taylor@enron.com
Subject: Enron/McGarret C
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Sara Shackleton
X-To: Mark Taylor
X-cc:
X-bcc:
X-Folder: \Sara_Shackleton_Dec2000_June2001_1\Notes Folders\All documents
X-Origin: SHACKLETON-S
X-FileName: sshackle.nsf

Call me when you have a chance
----- Forwarded by Sara Shackleton/HOU/ECT on 08/24/2000 09:11 AM -----

	Carol St Clair
	08/24/2000 08:14 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT
		 cc:
		 Subject: Enron/McGarret C

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 08/24/00 08:11 AM -----

	"CHRIS KRECEK" <KRECC@andrews-kurth.com>
	08/23/00 02:47 PM

		 To: <alan.quaintance@enron.com>, <brenda.l.funk@enron.com>,
<Carol.St.Clair@enron.com>, <charles.delacey@enron.com>,
<Clement.abrams@enron.com>, <David.roland@enron.com>,
<Gina.Karathanos@enron.com>, <joel.ephross@enron.com>,
<tina.livingston@enron.com>, <Trevor.Randolph@enron.com>,
<trushar.patel@enron.com>, <mniebruegge@mayerbrown.com>,
<tellwood@mayerbrown.com>, <eawilburn@prickett.com>, <Tamullen@prickett.com>,
<kenton@rlf.com>, <Mercedes.arango@us.cibc.com>, <schottla@us.cibc.com>,
<wolfmark@us.cibc.com>, <ARoberts@WilmingtonTrust.com>
		 cc: "David Barbour" <BARBD@andrews-kurth.com>, "MURIEL McFARLING"
<MCFAM@andrews-kurth.com>, "Michael Thimmig" <THIMM@andrews-kurth.com>
		 Subject: Enron/McGarret C

In connection with the Hawaii 125-0 McGarret C transaction scheduled to close
August 31, 2000, attached in WordPerfect format are the following closing
documents marked against the McGarret B Series:

Closing Checklist (254308);
Asset Notice (254309);
Series Certificate of Beneficial Ownership (254316);
Series Supplement (254319);
Drawdown Request (254322);
Total Return Swap Confirmation (254324);
Put Option Agreement (254334);
Put Option Assignment (254341);
Notice of Put Option Assignment (254345);
Promissory Note (Big Island III) (254347);
B Interest Assignment Agreement (254349);
Warrant Assignment (254351);
Amended and Restated LLC Agreement (McGarret III) (254352);
Amended and Restated LLC Agreement (Big Island) (254356);
Receipt of Asset LLC (254362);
Receipt of Transferor (254365);
Receipt of Trust (254366);
Independent Auctioneer Letter Agreement (254369);
Sale and Auction Agreement (254372);
Direction Letter (254376); and
General Opinion of A&K (254385).

If you have any questions or comments, please call Muriel McFarling at (214)
659-4461.  Thank you.

Chris Krecek, Secretary/Legal Assistant
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
Phone: (214) 659-4481
Fax: (214) 659-4401
Email: ckrecek@andrews-kurth.com

CONFIDENTIALITY NOTICE:  The information in this e-mail (including any
attachments) is confidential, legally privileged and intended only for the
use of each recipient named above.  If you are not an intended recipient, you
must not read, use or disseminate this information.  If you have received
this e-mail in error, please notify the sender immediately by reply e-mail
and delete this e-mail from your computer.
VIRUS WARNING:  Although this e-mail (including any attachments) is not
intended to contain any virus or defect that may affect your computer, you
are responsible for ensuring that no virus or defect exists.  The sender
disclaims any responsibility for any loss or damages arising from any virus
or defect associated with this e-mail.

 - 254385.wpd
 - 254309.wpd
 - 254316.wpd
 - 254319.wpd
 - 254322.wpd
 - 254324.wpd
 - 254334.wpd
 - 254341.wpd
 - 254345.wpd
 - 254347.wpd
 - 254349.wpd
 - 254351.wpd
 - 254352.wpd
 - 254362.wpd
 - 254365.wpd
 - 254366.wpd
 - 254369.wpd
 - 254372.wpd
 - 254376.wpd
 - 254308.wpd