---------------------- Forwarded by Phillip K Allen/HOU/ECT on 09/11/2000
04:57 PM ---------------------------

"George Richards" <cbpres@austin.rr.com> on 09/08/2000 05:21:49 AM
Please respond to <cbpres@austin.rr.com>
To: "Phillip Allen" <pallen@enron.com>
cc: "Larry Lewter" <retwell@mail.sanmarcos.net>
Subject: Westgate Proforma-Phillip Allen.xls

Enclosed is the preliminary proforma for the Westgate property is Austin
that we told you about.  As you can tell from the proforma this project
should produce a truly exceptional return of over 40% per year over 3 years.
This is especially attractive when the project is in a market as strong as
Austin and we are introducing new product that in a very low price range for
this market.  This is the best project in terms of risk and reward that we
have uncovered to date in the Austin market.
The project does have approved zoning and will only require a site plan.  As
it is in the "Smart Growth Corridor" area designated by the City of Austin
for preferred development, this will be fast tracked and should be complete
in less than 6 months.  Additionally, many of the current and more severe
water treatment ordinances have been waived.  I have estimated the lot
improvement costs based on a 28 lot development we investigated in North
Austin, which included a detention/retention and filtration pond and street
widening.  Even though this property is not likely to require street
widening and will have less of a detention/retention and filtration pond
requirement, I used this data to be cautious.
 The Lone Star gas line easement in the lower portion of the property is not
expected to impact sales significantly.  Other projects have been quite
successful with identical relationships to this pipeline, such as the
adjoining single family residential and a project at St. Edwards University.
As with most infill projects, the quality of the surrounding neighborhoods
is uneven.  We have included a fence around the entire property, but may
only put it on Westgate and Cameron Loop.  Gated communities are far
preferred so this is a good idea for both screening and current buyer
preferences.
The seller accepted our offer Thursday evening with a price of $680,000 and
an extended escrow.  This will enable us to probably obtain an approved site
plan before closing on the contract, which will mean that we can close into
an A&D Loan rather than into a land loan and then an improvement loan.
This analysis shows your investment at $700,000 for a 50% interest in the
profits of the project.  As we discussed in San Marcos, we can also discuss
having you invest only in the lots, sell the lots to the construction entity
with your profit in the lot.  I believe this would facilitate the use of a
1031 Exchange of the proceeds from this deal into another project that is a
rental deal or at least into the land for a rental project that would then
be the equity for that project.  You would need to discuss this with an
exchange expert first.  Larry Lewter knows an expert in the field in San
Antonio if you do not know anyone.
I will send you a package on the property that was prepared by the broker,
by Airborne Express today for Saturday delivery.
Once you have read the package and reviewed this proforma, we would want to
schedule a tour of the site and the area.  Please get back to me as soon as
your schedule permits regarding the site visit and feel free to call at any
time.  You can reach me over the weekend and in the evening at either
512-338-1119 or 512-338-1110.  My cell phone is 512-748-7495 and the fax is
512-338-1103.   I look forward to hearing from you and to working with you
on this project that is sure to be a major winner.
I regret that it took so long to get back to you, but we had some unusual
events these past few weeks.  A small freakish wind storm with severe 60+mpg
downdrafts hit the South part of Austin where we are building 10 town homes.
One of these units had just had the roof decked with the siding scheduled to
start the next day.  The severe downdraft hitting the decked roof was enough
to knock it down.  The City shut down the project for a week and it took
another week to get every thing back on tract.  Then last week I had to take
my wife  to emergency.  She has a bulge in the material between the vertebra
in her spine and it causes her extreme pain and has kept her bedridden this
past week..  There is nothing like having your wife incapacitated to realize
the enormous number of things she does everyday.   Fortunately, it looks as
if she will be ok in the long run.
George W. Richards
Creekside Builders, LLC

 - Westgate Proforma-Phillip Allen.xls


Tom,

Here are the new graphs with totals (bar charts) and distributions (boxplots)
for all seven sites through May 2002.

I believe that I have come up with a method of providing you with the
ESTIMATED energy lost. Since it requires using two data sets (faults and
10-minute data) it will be take a bit longer to run. However I hope to have
that result to you next week.

Mark


Harry,

I hope all is going well in Houston.  Thanks again for introducing me around
Enron when I cam to visit a couple months ago.  Hopefully you heard that I
accepted the internship and will be starting on June 4th.  I am very excited
about getting involved with Enron, learning as much as possible, and
hopefully contributing value to some interesting projects.

I am writing you for some advice.  I do not know which group I will be
working in this summer.  I am very excited about the company and would like
to perform well once I start.  Is there something I could do to prepare
myself?  I would like to begin reading and learning about the industry.
Unfortunately, Enron is involved in several industries, making it difficult
to know which to research.  Do you have any suggestions?

I look forward to seeing you this summer.

Sincerely,

Vic

Vic Gatto
Owen School of Management
Vanderbilt Universtiy
(615) 292-7414
vic.gatto@owen2002.vanderbilt.edu


Jennifer:

Please be sure to connect Tom and Nancy, since I had a discussion with her
about CA gas and had this stuff sent to her.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 05/30/2001 04:11 PM -----

	MDay <MDay@GMSSR.com>
	05/29/2001 01:33 PM

		 To: "'nancy.bagot@enron.com'" <nancy.bagot@enron.com>
		 cc: "'Jeff Dasovich Enron SF'" <jdasovic@enron.com>
		 Subject: FW: SoCalGas - Capacity Settlement -&- Primary and Secondary Acce
ss Rights

Jeff Dasovich asked me to forward this information to you about the
Comprehensive Settlement Agreement submitted in California.  If you want the
actual text of the settlement I can forward that as well.  Please let me
know what works best for you.  Thanks, Mike Day
-----Original Message-----
From: MDay
Sent: Friday, May 25, 2001 2:50 PM
To: MDay
Subject: FW: SoCalGas - Capacity Settlement -&- Primary and Secondary Acce
ss Rights

-----Original Message-----
From: MBD
Sent: Tuesday, July 11, 2000 1:09 PM
To: 'Jeff Dasovich Enron SF'
Subject: FW: SoCalGas - Capacity Settlement -&- Primary and Secondary Acce
ss Rights

Jeff, here is the final version of the term sheet that Brian sent around.

Mike

-----Original Message-----
From: Cherry, Brian - TPBKC [mailto:BCherry@sempra.com]
Sent: Friday, March 31, 2000 7:25 AM
To: Lorenz, Lad - TPLPL; 'Craig Chancellor'; 'abb@eslawfirm.com';
'agenergy@aeca.com'; 'agoldberg@lgl.twc.com'; 'Alexander, Michael@sce';
'Amirault, Paul@AEC'; 'aod@newsdata.com'; 'athomas@newenergy.com';
'awattslaw@earthlink.net'; 'awodtke@aandellp.com'; 'Baldwin, Mark@IGS';
'bbrunel@SMUD.org'; 'Beck, Steve@PG&E'; 'Bellenger, Geoffrey@PGE'; 'Black,
Larry@SWG'; 'Blue, Greg@Dynegy'; 'bmcc@mccarthylaw.com'; 'Bosley,
Kirby@Reliant'; 'bradylaw@pacbell.net'; 'Bretz, Cathy@PG&E'; 'Brown,
Keith@SWG'; 'Brown, Sam@SW'; 'Brown, William@SWG'; 'Burkholder,
John@cts/whb'; 'Bushman, Tom@CellNet'; 'cbaker@ns.net'; 'Cervin, Peter@BR';
'cgoodman@bellatlantic.net'; 'charles_doering@rmiinc.com'; 'Chau,
Andrew@sShell Energy'; 'Checketts, Bob@KR'; 'Cluff, Drew@Duke';
'cmkehrein@ems-ca.com'; 'Collette, Martin@Econone'; 'Comnes, Alan G.@MRW';
'Connell, Bruce@Conoco'; 'Cotroneo, Eileen@PGE'; 'Counihan, Rick@Green
Mountain'; 'Cushnie, Colin@SCE'; 'Dahlberg, Lynn@KR'; 'Dasovich,
Jeff@Enron'; 'Davis, John@KR'; 'Day, Michael@GMSSR'; 'Dickinson, Sandy@PGE';
'difellman@earthlink.net'; 'Douglass, Dan@SES'; 'dsloan@pge-nw.com';
'ecrem@ix.netcom.com'; 'ehahn@spurr.org'; 'Eisenman, Eric@PGE';
'eklinkner@ci.pasadena.ca.us'; 'Elsesser, Evelyn@IP'; 'epoole@adplaw.com';
'eric@gcnet.org'; 'ewo@jmbm.com'; 'Fawcett, Jeff@Enron';
'fergusonM@epenergy.com'; 'fogelmanm@steefel.com'; 'Folsom, Bruce@Avista';
'Foss, Rob@Coral Energy'; 'frazier@bull.som.yale.edu'; 'Frost, Pete@Conoco';
'Fullerton, Mark@WHP'; 'Gaillard, Bruno@Enron';
'ghinners@reliantenergy.com'; 'Golden, Patrick@PGE';
'gpickering@idahopower.com'; 'Graham, Roger@PGE';
'grant_kolling@cerberus.city.palo-alto.ca.us'; 'Hall, Rich@IGS'; 'Hannah,
Jim@TXU'; 'Harris, Mike@Reed'; 'Harris, Steve@TW'; 'Hawiger, Marcel@TURN';
'Healy, Bill@EPNG'; 'Hensman, Kevan@Aera'; 'Hilen, Christopher@Reliant';
'Hoglund, Patrick@PGE'; 'Honeycutt, Bedellia@REMAC'; 'Huertas, A.@Enron';
'Huhman, Steve@SoEnergy'; 'inggm@sce.com'; 'jbennett@gmssr.com';
'jgopal@energy.state.ca.us'; 'Jimison, John'; 'jmct@gmssr.com';
'jmpa@dynegy.com'; 'john.walley@swgas.com'; 'Johnson, Kirk@PGE'; 'Johnson,
Pamela@REMAC'; 'jond@qstr.com'; 'Jordan, Richard@SWG'; 'jsqueri@gmssr.com';
'jthomson@penn.com'; 'jurewijl@sce.com'; 'Karp, Joseph@Whitecase'; 'Katz,
Stefanie@SET'; 'Kebler, Curtis@Reliant'; 'Keeler, Paul@BR';
'keith-sappenfield@hlp.com'; 'keith-sappenfield@reliantenergy.com';
'kirk.t.morgan@wgp.twc.com'; 'Klatt, Gregory@SCGC'; 'kmills@cfbf.com';
'Kramer, Daniel@CIPA'; 'kschellin@mtpower.com'; 'Larmour, Jack@Dynegy';
'Latterel, Maria@PGE'; 'Ledene, Ben@WGS'; 'Leslie, John@Luce'; 'Lindh,
Karen@CIG/CMA'; 'Lins, Steve@Glendale'; 'Litteneker, Randall@PGE'; 'Lizak,
Greg@Itron'; 'Louttit, Craig@PGE'; 'Lu, Frank@LADWP'; 'Maan,
Raveen@Cerberus'; 'malcantar@aandellp.com'; 'Masuda, Scott@LADWP'; 'McClay,
Shelley@Coral Energy'; 'mcclintocke@epenergy.com'; 'McConn, Kathy@EPNG';
'McCrea, Keith@CIG/CM'; 'mdjoseph@adamsbroadwell.com'; 'Meadows, Ted@UDS';
'Meadows, Ted@Ultramar'; 'Miller, Jerry@PGE'; 'Miller, Preston@WGP';
'Moench, Mark@KR'; 'mtran@energy.state.ca.us'; 'nge@value.net'; 'O'Donnell,
Mike@PGE'; 'office@mccarthylaw.com'; 'O'Loughlin, Matthew@SCE'; 'Orr,
Carl@PGE'; 'Oshirock@pacbell.net'; 'Pate, Michael@OEM';
'paul.macavoy@yale.edu'; 'Pedersen, Norm@SCGC'; 'Pelote, Roger@Williams';
'Pettinato, Bob@LADWP'; 'phanschen@gj.com'; 'placourciere@sf.whitecase.com';
'Pocino, Mark@RC'; 'Pocta, Mark@ORA'; 'Porter, Doug@SCE'; 'Power,
Patrick@LB'; 'Radtke, Otto@CO'; 'Ramirez, Jaime@SWGas'; 'rbw@mrwassoc.com';
'Reid, Al@PanCanadian'; 'rgloistein@orrick.com'; 'rhc@mrwassoc.com';
'rliebert@cfbf.com'; 'rmccann@cal.net'; 'rnemec@mediaone.net';
'robertg@greenlining.org'; 'Rochman, Michael@CUB'; 'Rochman, Michael@SPURR';
'Rosmon, Lewis@Tractebel'; 'Ross-Leech, Diane@PGE'; 'Roth,
Rosalie@Solutions'; 'Roth, Tom@ET'; 'rtask@norm.com'; 'salleyoo@dwt.com';
'scarter@nrdc.org'; 'scohn@SMUD.org'; 'Shively, R.@Energynamics'; 'Silva,
Larry@Glendale'; 'simonsen@rmi.net'; 'Skaff, Andy@Dynegy';
'sneiman483@aol.com'; 'Soong, Gwen@IGS'; 'sscott3@enron.com';
'stomashe@energy.state.ca.us'; 'Stout, M.@sempra-slns'; 'Sullivan,
Catherine@Southernenergy'; 'Sutton, J.C.@scana'; 'Sweeney, Richard@CVernon';
'tbeach@vdn.com'; 'thompson@wrightlaw.com'; 'Tisdale, Roger@Occidental';
'toca@compuserve.com'; 'tomb@crossborderenergy,com';
'vhconsult@earthlink.net'; 'ward@phaser.com'; 'Weil, James@Aglet'; 'Wesson,
Parks@Astra'; 'whited@paceresources.com'; 'Wood, Bill@CEC';
'Wraff@adnc.com'; 'Wright, Elizabeth@LB'; 'Yap, Cathy E.'; 'Yu, Peter';
'Zaiontz, Jean@BP'; 'Zanaboni, Kathy@RES'; Reed, William
Cc: Morrow, Rick - TP3RMM; Sullivan, Glen J.; Follett, B. David - TPDBF;
Wright, Gillian - TP1GXW; Harrigan, James P. - TP1JPH; Van Lierop, Jan -
TP2JXV; Brill, Thomas R.; Sakarias, Wayne P.; Purves, Ralph A.; Nilarp,
Margarita - TP3MXM; Angeles, Zenee G. - TPZGA; Watson, Steven - TP2SAW;
Betonte, Robert - TP2RSB; Reed, William; Brill, Thomas R.; Schavrien, Lee
Subject: RE: SoCalGas - Capacity Settlement -&- Primary and Secondary Acce
ss Rights

My apologies to those of you who received the March 20 version.  Here is the
final version mentioned in the note below.

Attached for you review and support is the final Capacity Issues Settlement
in the Gas Industry Restructuring/Natural Gas Proceeding.  In addition, we
have included a revised version of Appendix A, the primary and secondary
receipt point access rights statement.

The attached documents are the result of countless hours of negotiation on
behalf of the parties supporting this document.  I would like to
congratulate all of the active parties for their patience and flexibility
throughout this process.  Because we are under an April 3 filing deadline,
we need to finalize support for this proposal no later than COB Friday,
March 31.  Please forward your support of this proposal to Lad Lorenz (213
244-3820) or Brian Cherry (213 244-3895) as soon as possible.

We are also finalizing the Retail Issues Settlement with those parties
interested in this matter and expect to circulate a formal document tomorrow
morning.  I ask for your continuing patience.

Once again, I would like to thank everyone for the Herculean efforts they
have made to make this settlement possible.

 - GIRcounter0330final.doc
 - Primary Rights 3-30 4PM final.doc


I will have those this morning. Thanks
Ben


Enron Troubles Only the Tip of the Iceberg?
TheStreet.com, 10/26/2001

Under the Radar: Enron's Flickering Bulb
TheStreet.com, 10/26/2001

DJ Enron Unit,New England Market Downplay Report Of Default
Dow Jones, 10/26/2001

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
Bloomberg, 10/26/01

Enron Executives Sent Requests for Details of Affiliate Profits
Bloomberg, 10/26/01

Enron Still Target in California Amid Other Problems (Update1)
Bloomberg, 10/26/01

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
Bloomberg, 10/26/01

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees
Business Wire, 10/26/01

Enron Troubles Only the Tip of the Iceberg?
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
TheStreet.com
10/26/2001 05:23 PM EDT
URL: <http://www.thestreet.com/markets/detox/10003083.html>

Dealings with a related party have tarnished Enron's (ENE:NYSE - news - commentary) reputation and crushed its stock, but it looks like that case is far from unique.
The battered energy trader has done business with at least 15 other related entities, according to documents supplied by lawyers for people suing Enron. Moreover, Enron's new CFO, who has been portrayed by bulls as opposing the related-party dealings of his predecessor, serves on 12 of these entities. And Enron board members are listed as having directorships and other roles at a Houston-based related entity called ES Power 3.
The extent of Enron's dealings with these companies, or the value of its holdings in them, couldn't be immediately determined. But the existence of these partnerships could feed investors' fears that Enron has billions of dollars of liabilities that don't show up on its balance sheet. If that's so, the company's financial strength and growth prospects could be much less than has generally been assumed on Wall Street, where the company was long treated with kid gloves.
Enron didn't immediately respond to questions seeking details about ES Power or about the role of the chief financial officer, Jeff McMahon, in the various entities. Enron's board members couldn't immediately be reached for comment.
Ten Long Days
Enron's previous CFO, Andrew Fastow, was replaced by McMahon Wednesday after investors criticized Fastow's role in a partnership called LJM, which had done complex hedging transactions with Enron. As details of this deal and two others emerged, Enron stock cratered.
The turmoil that resulted in Fastow's departure began two weeks ago, when Enron reported third-quarter earnings that met estimates. However, the company failed to disclose in its earnings press release a $1.2 billion charge to equity related to unwinding the LJM transactions. Since then, investors and analysts have been calling with increasing vehemence for the company to divulge full details of its business dealings with other related entities. Enron stock sank 6% Friday, meaning it has lost 56% of its value in just two weeks.
Enron's End Run?
New financial chief's involvement in Enron business partners
Enron-Related Entity	Creation DateMcMahon Involved?

ECT Strategic Value Corp.4/18/1985	Yes
JILP-LP Inc.	9/27/1995	Yes
ECT Investments Inc.	3/1/1996	Yes
Kenobe Inc.	11/8/1996	Yes
Enserco LLC	1/7/1997	Yes
Obi-1 Holdings LLC	1/7/1997	Yes
Oilfield Business Investments1/7/1997	Yes
HGK Enterprises LP Inc.	7/29/1997	Yes
ECT Eocene Enterprises III Inc.2/20/1998Yes
Jedi Capital II LLC	9/4/1998	Yes
E.C.T. Coal Company No. 12/31/1998	Yes
ES Power 3 LLC	1/7/1999	Yes
Enserco Inc.	3/25/1999	No
LJM Management LLC	7/2/1999	No
Blue Heron I LLC	9/17/1999	No
Whitewing Management LLC2/28/2000	No
Jedi Capital II LLC	4/16/2001	No
Source: Detox
However, Enron has yet to break out a full list of related entities. The company has said nothing publicly about McMahon's participation in related entities, nor has it mentioned that its board members were directors or senior officers in ES Power 3. (Nor has it explained the extensive use of Star Wars-related names by the related-party companies.) It's not immediately clear what ES Power 3 is or does. So far, subpoenas issued by lawyers suing Enron have determined the names of senior officers of ES Power 3 and its formation date, January 1999.
Among ES Power 3's senior executives are Enron CEO Ken Lay, listed as a director, and McMahon and Fastow, listed as executive vice presidents. A raft of external directors are named as ES Power 3 directors, including Comdisco CEO Norman Blake and Ronnie Chan, chairman of the Hong Kong-based Hang Lung Group. A Comdisco spokeswoman says Blake isn't commenting on matters concerning Enron and a call to the Hang Lung group wasn't immediately returned.
Demands, Demands
Rating agencies Moody's, Fitch and S&P recently put Enron's credit rating on review for a possible downgrade after an LJM deal that led to the $1.2 billion hit to equity. Enron still has a rating three notches above investment grade. But its bonds trade with a yield generally seen on subinvestment grade, or junk, bonds, suggesting the market believes downgrades are likely.
If Enron's rating drops below investment grade, it must find cash or issue stock to pay off at least $3.4 billion in off-balance sheet obligations. In addition, many of its swap agreements contain provisions that demand immediate cash settlement if its rating goes below investment grade.
Friday, the company drew down $3 billion from credit lines to pay off commercial paper obligations. Raising cash in the CP market could be tough when investors are jittery about Enron's condition.
This week, a number of energy market players reduced exposure to Enron. However, in a Friday press release, CEO Lay said that Enron was the "market-maker of choice in wholesale gas and power markets." He added: "It is evident that our customers view Enron as the major liquidity source of the global energy markets."
McMahon reportedly objected to Fastow's role in LJM, allegedly believing it posed Fastow with a conflict of interests. But he will need to convince investors that the 12 entities he's connected to don't do the same. Enron has said that its board fully approved of the LJM deals that Fastow was involved in. Now, board members will have to comment on their own roles in a related entity.

Under The Radar: Enron's Flickering Bulb
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
10/26/2001 05:08 PM EDT
URL: <http://www.thestreet.com/comment/chrisedmonds/10003075.html>

While the bulb at Enron (ENE:NYSE - news - commentary) may not have burnt out, it's clearly flickering. To date, investors aren't sure whether Chairman and CEO Ken Lay is up to the task of re-energizing the company he once built to greatness.
What's happened at the Houston energy giant-turned-dwarf could've been imagined with any number of ne'er-do-well companies during the well-chronicled bubble. But this is Enron. As one longtime Enron bull and shareholder said, "I never had to worry about Enron's ability to survive until this week. I still find it hard to believe."
Peter Eavis has done an exceptional job of chronicling Enron's adventures for some time. If you'd listened to him earlier this year, you'd have profited from his knowledge. His reporting on Enron's partnership shenanigans to the departure of Chief Financial Officer Andrew Fastow has been outstanding.
The rumors -- from a pending bankruptcy to a Justice Department investigation -- are, for now, just that. And, Enron did not single-handedly cause the California power crisis, nor is Royal Dutch/Shell (RD:NYSE - news - commentary) about to make a bid to buy the company. Sources do tell me that head-count reductions are likely through employee buyout offers and the company is set to refocus on its core energy business. And, while former CEO Jeff Skilling shares culpability for the current mess, his departure appears only indirectly related to Enron's current woes.
Now, Enron faces the daunting challenge of rebuilding both its business and, more importantly, its reputation.
The Company's Challenge
But what does Enron do now? It's very simple. Come clean, clean up the mess and refocus on its core business: wholesale energy markets, risk management and retail energy services. They support each other and create a platform that can be plenty profitable without a lot of gimmicks.
"Our gut feel is that Enron can pull it off, and long-term investors should hold firm, as eventually the stock gets valued on earnings, with upside potential to $25 per share over the next 12-18 months," says Jeff Dietert, power analyst at Simmons & Co. and a member of the TSC Energy Roundtable. "We believe new money with high risk tolerance should wait until Enron announces its intentions for communicating a clear path to recovery."
Dietert outlines four challenges for Enron. One, management must regain the Street's confidence and persuade investors that it can resolve balance-sheet strength and generate the expected earnings and cash flow. Two, Enron must maintain its investment-grade credit rating. Three, Enron must successfully execute its divestiture plans. Four, Enron must control the timing of the recognition of the write-down in the value of any assets where market value is less than book.
Straightforward? Yes. Easy to accomplish? No.
Although Enron says additional write-downs are unlikely -- except a $200 million charge early next year as the result of an accounting change -- analysts aren't so sure. They're focused on the company's Global Assets portfolio, sporting $6 billion in book value but generating an EBIT (earnings before interest and taxes) loss of $18 million over the past 12 months.
The divestitures include $390 million in exploration and production assets in India, $250 million in a Puerto Rico power plant and $250 million in a Brazilian power plant in the fourth quarter as well as the pending sale of Portland General, which is set to close in 2002. There will likely be others. However, Enron has to execute here, and given the current state of its affairs, the seller will feel the pressure.
The credit-rating issue is a fine line. The current ratings, BBB+ from Standard & Poor's and Baa1 from Moody's, are three levels above non-investment grade. However, both rating agencies now have Enron on their radar screens for possible downgrades. Dietert estimates that Enron's debt-to-market cap will be about 48% by year-end, and the company has interest coverage (EBITDA/ interest expense) of about 3.5 times. By comparison, the average S&P BBB-rated company has a debt-to-cap of 47.4% and interest coverage of about 6.1 times. The average BB company has debt-to-cap of 61.3% and interest expense of 3.8 times.
Frankly, everything falls on Enron's management team and its ability to reassure investors. "If Enron's management does not step up to calm investor fears, these fears could become a self-fulfilling prophecy," Dietert says. "In the potentially vicious cycle, investor fears could drive stocks down; the lower stock prices force the rating agencies to consider downgrades; potentially lower credit ratings force counter-parties to reduce exposure to Enron, limiting Enron's ability to generate earnings and cash flow."
It's time for Enron to grow up. Despite a lot of uncertainties and risk, I think it will. Investors with risk capital should do their homework on the stock and think about strategy. It's a tough call that requires strict, individual discipline.
There's an irony to this whole story, especially in Enron's lack of candor in reporting its financial results. In a much-lauded advertising campaign, Enron, looking to challenge conventional wisdom, asks the simple question, "Why? Ask why."
Investors are now asking. It's time for Ken Lay to answer.
First Things First
Many readers have asked about my relative quietness this week. Thank you for your concern. My father has fallen ill after fighting the effects of a brain tumor for more than a decade.
The choice was easy. I'm with him and my family.
Enjoy your weekend with family and friends.

DJ Enron Unit,New England Market Downplay Report Of Default
2001-10-26 17:14 (New York)

   By Kristen McNamara
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Enron Corp.'s (ENE) retail sales unit defaulted on its
credit requirement in New England's wholesale power market this month, but the
event was neither unique nor newsworthy, the energy company and the
organization that developed the market's rules said Friday.

  The operator of the region's wholesale power market informed Enron Energy
Services last week that, for the third time in 12 months, it had traded a
greater volume of electricity than allowed by the bond it had posted and was at
risk for expulsion from New England's market.

  But it was administrative mixups, rather than financial problems, that
triggered the warning, which a few other companies have also received in the
past, the market's rulemaker said.

  "I can state with considerable confidence that there have been other
participants" that have defaulted on their credit agreements, "and it's never
been in the news," said David Doot, secretary and general counsel for the New
England Power Pool, which developed the policies governing the region's
electricity market. "My instinct is that this is blown way the hell out of
proportion."

  News of the Enron unit's default appeared in a trade publication and a major
metropolitan newspaper this week, as Enron's dealings with partnerships headed
by its former chief financial officer contributed to a plunge in the company's
stock and bond prices.

  Enron Energy Services never received word that it had defaulted on its
bonding requirement twice before, because both times it corrected the problem
within a day, spokeswoman Peggy Mahoney said.

  The letter sent by ISO New England, which operates the region's power market,
to notify the Enron unit of its third violation was addressed to the wrong
person, delaying the company's response, Mahoney said.

  "Clearly, it was an administrative error that we immediately took care of to
ensure that we would never exceed the volume limit," Mahoney said.

  The company resolved the problem by Oct. 19, Mahoney said. ISO New England
spokeswoman Ellen Foley confirmed Friday that the company had cured its
default.

  It's rare for a company to default three times, but it has happened on
occasion, Foley and Doot said.

  "I won't say it's commonplace, but I won't say it's unusual for a participant
to find itself out of compliance," Doot said. "Those things have in fact
happened from time to time."

  -By Kristen McNamara, Dow Jones Newswires; 201-938-2061;

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
2001-10-26 16:47 (New York)

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN

     Houston, Oct. 26 (Bloomberg) -- Enron Corp.'s lawsuit
alleging Microsoft breached a contract for broadband services
could temporarily block the largest software company's high-speed
Internet service in some U.S. regions.

     Microsoft said the dispute temporarily blocks the company
from providing the high-speed service in areas where Enron
provides broadband access, leaving MSN fully operational only in
the 14 states where Qwest Communications International Inc.
operates, said Bob Visse, director of marketing for MSN.

     Enron's lawsuit was filed yesterday. Microsoft had planned to
offer fast Internet access in 45 cities beginning yesterday to
give the largest software company access to potential customers in
29 million homes. Microsoft, the No. 2 U.S. Internet provider, is
making a push to win customers from AOL Time Warner Inc.

     ``We are trying to resolve the issues with Enron as quickly
as possible and at the same time we are evaluating other
providers,'' Visse said.

     Officials at Houston-based Enron, the largest energy trader,
did not immediately return calls for comment.

                         The Agreement

     Enron in June signed an agreement with Microsoft to provide
bandwidth for MSN Internet service. Under the agreement, Enron
isn't required to deliver operational broadband services if
Microsoft hasn't first provided a billing and ordering system, Dow
Jones newswire reported.

     Enron claims in its lawsuit that Microsoft failed to deliver
the ordering and billing system required in the initial phase of
the deal, Dow reported.

     Enron's lawsuit comes after Microsoft said in an Oct. 23
letter that Enron will have breached the contract if it hasn't
provided an operational bandwidth system by Oct. 25, allowing
Microsoft to recover damages.

     Shares of Redmond, Washington-based Microsoft fell 36 cents
to $62.20, while Enron shares fell 95 cents to $15.40.

--Joyzelle Davis in Los Angeles (213) 617-0582, or

Enron Executives Sent Requests for Details of Affiliate Profits
2001-10-26 15:36 (New York)

Enron Executives Sent Requests for Details of Affiliate Profits

     Houston, Oct. 26 (Bloomberg) -- Lawyers for a shareholder
suing Enron Corp. are asking executives of the largest energy
trader to disclose any income they made from their involvement
with affiliated companies that bought and sold Enron assets.

     Lawyers have made the requests to President Greg Whalley,
Vice Chairman Mark Frevert and Chief Financial Officer Jeff
McMahon and 83 other employees arrived at Enron's Houston offices
this week, said Paul Paradis, a partner in the New York law firm
Abbey Gardy. Requests also were sent to 17 Enron partnerships such
as Whitewing Management and Marlin Water.

     Paradis represents Fred Greenberg, an Enron shareholder who
is suing the company's board for allowing former Chief Financial
Officer Andrew Fastow to run partnerships that cost the company at
least $35 million in cash and $1.2 billion in lost shareholder
equity.

     The requests are aimed at determining if Enron executives
benefited financially from roles as officers and directors of
partnerships that bought and sold company assets. Enron formed at
least 18 such affiliated companies, listing executives and
employees as officers and directors of the partnerships, according
to Texas secretary of state records.

     Under Texas law, failure to respond to the document requests
will result in subpoenas being issued. Subpoenas could go out next
week if responses don't arrive by then, Paradis said. Enron
spokeswoman Karen Denne didn't respond to requests for comment
about the document requests.

     The executives earned no income from the partnerships, Enron
spokesman Mark Palmer has said. ``There are no financial interests
in the structures themselves for any Enron employee,'' Palmer
said. He said it's common for a company to name its executives to
the boards of affiliates.

                       Affiliates Have Debts

     Texas records show Chief Executive Officer Kenneth Lay,
Frevert, Whalley, McMahon and dozens of other people who list
their address as Enron's corporate headquarters serving as
officers and directors of limited liability companies and foreign
business corporations.

     The document requests ask Enron executives for information on
any form of compensation or benefit received from any of the
affiliates, including stock grants and options. They also ask the
executives to disclose any equity or partnership interests in the
affiliates.

     Enron formed many of the affiliates to buy company assets
such as power plants and natural-gas pipelines. That allowed Enron
to move debt associated with those projects off its books.

     The affiliates bought the assets with borrowed money. They
plan to repay the debt by eventually selling the assets. Enron
might be liable for any shortfall between the sales proceeds and
the debt. That could amount to at least $3.3 billion if the assets
don't generate any money, a remote possibility, the company has
said.

                            Few Answers

     Investors and analysts pressed Enron Chief Executive Officer
Kenneth Lay for details on the finances of the partnerships in a
conference call Tuesday.

     Today, Enron spokeswoman Karen Denne didn't respond to
questions about one of them, ES Power 3 LLC.

     Texas records list 78 Enron executives and employees as
officers, directors and managers of ES Power 3 LLC. The entire
Enron board is also listed.

     Shares of Enron $1.15 to $15.20 in late trading.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Enron Still Target in California Amid Other Problems (Update1)
2001-10-26 16:15 (New York)

Enron Still Target in California Amid Other Problems (Update1)

     (Updates with closing share price in last paragraph.)

     Sacramento, California, Oct. 26 (Bloomberg) -- Enron Corp.,
facing an inquiry by federal securities regulators into
partnerships run by the former chief financial officer, remains a
target of investigations and lawsuits in California.

     California lawmakers and regulators have accused power
providers of manipulating the state's energy market to raise
prices. Enron, the biggest energy trader, and other power sellers
have denied the charges repeatedly.

     Next month, a California Senate committee investigating the
power market plans to hold a hearing to determine if Enron and
other generators are complying with subpoenas for trading
documents. Enron has been filing documents in Sacramento,
California.

     ``They are still putting documents in their depository, and I
don't think they've completed that process,'' said Alexandra
Montgomery, a consultant to the committee. It ``remains to be
seen'' whether Enron is complying with its subpoena, she said.

     The suits and inquiries came after wholesale power prices in
California soared, leaving the state's two largest utilities
insolvent. Under California's plan to open its electricity market
to competition, the utilities of PG&E Corp. and Edison
International weren't allowed to pass rising costs to customers.

     ``I know that we're doing our best to comply with what the
committee is asking for,'' Enron spokesman Mark Palmer. ``We are
putting documents in the depository, and we're looking forward to
a speedy resolution.''

     Shares of Houston-based Enron have fallen by more than half
since Oct. 16. The company ousted Andrew Fastow as the chief
financial officer Wednesday amid a U.S. Securities and Exchange
Commission inquiry into a partnership he ran that cost Enron $35
million.

                            Grand Jury

     Enron also is one of the companies being investigated for
civil and criminal violations by California Attorney General Bill
Lockyer, who convened a grand jury in June.

     Lockyer has been criticized by Enron officials for telling
the Wall Street Journal in May that he would like to put Enron
Chairman Kenneth Lay in ``an 8 x 10 cell that he could share with
a tattooed dude who says `Hi my name is Spike, honey.' '' Lockyer
later apologized for the remark.

     The attorney general's investigation is proceeding, Lockyer
spokeswoman Sandra Michioku said. Michioku said she didn't know
when civil or criminal charges against Enron or other power
providers might be filed.

     ``Our investigation is still being pursued,'' she said. ``We
had to go to court to get Enron to turn over documents, so that
slowed things down a bit.''

     Enron's Palmer said he didn't know the status of the attorney
general's investigation.

     ``I think the attorney general demonstrated his willingness
to take a fair and impartial look a long time ago when he made his
vulgar and unfounded remarks about our chairman,'' Palmer said.

                           More Lawsuits

     Enron, along with other major power providers such as Duke
Energy Corp. and Dynegy Inc., face at least five lawsuits alleging
they manipulated California energy prices in violation of
antitrust laws.

     The cases, which include separate complaints filed by the
City of San Francisco, California Lieutenant Governor Cruz
Bustamante and various consumers, currently are in state courts
awaiting a coordination proceeding, said Michael Aguirre, a lawyer
representing Bustamante. The lawsuits should be assigned to a
judge by the end of next month, he said.

     If the complaints succeed, the companies might be ordered to
repay profits from any illegal activities and pay fines, including
triple damages.

     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,
declining for the eighth day in a row. The shares have fallen 80
percent in the past 12 months.

--Daniel Taub in Los Angeles, (323) 801-1261 or

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
2001-10-26 16:18 (New York)

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)

     (Adds investor comment in fourth paragraph.)

     Houston, Oct. 26 (Bloomberg) -- Enron Corp. bonds and shares
fell after the largest energy trader tapped a $3 billion credit
line because it has been shut out of the leading market for low-
interest, short-term loans.

     The company's stock has fallen 54 percent in the past 14 days
after investors questioned its transactions with affiliates run by
Enron's former chief financial officer. The shares fell 95 cents,
or 5.8 percent, to $15.40 today.

     Chief Executive Officer Kenneth Lay has failed to reassure
investors that the company's credit rating won't be cut, investors
said. Enron can no longer borrow in commercial paper markets,
where short-term loans carry lower rates than banks offer.

     ``Do they have the financial flexibility they once had? No,''
said John Cassady, who helps manage $3 billion in bonds at Fifth
Third Bancorp. ``People are questioning the credibility of
management.''

      The company will use its credit line to pay off $2.2 billion
in commercial paper it has outstanding, Enron spokesman Mark
Palmer said.

                            Bonds Drop

     Enron's 6 3/4 percent bonds, which mature in 2009, declined 1
1/2 points to a bid of 84 cents on the dollar and an offer of 86
cents. At that price, the bonds, which carry a rating of ``BBB+,''
yield 9.53 percent.

     Investors have grown concerned that the company's credit
rating will be cut after $1.01 billion in third-quarter losses
from failed investments. Enron needs good credit to raise cash
daily to keep trading partners from demanding collateral and to
settle transactions.

     Enron's decision to tap its credit line was ``a smart
financial move,'' said Stephen Moore, a vice president at Moody's
Investors Service who follows the company. ``It took away the
hassle and time-consuming nature of rolling commercial paper and
insured access to capital.''

     Though Enron's bonds have investment-grade ratings, their
yield at current prices is higher than those of industrial bonds
that carry junk ratings. According to Bloomberg data, companies
with ``BB'' ratings pay on average 9.16 percent to borrow for
seven years.

     A lower credit rating may also force Enron to buy back
holdings in other partnerships with its stock, diluting the value
of Enron investors' stock.

     Partnerships called Whitewing, Marlin and Yosemite own Enron
assets they bought with borrowed money. Enron sold the assets to
the partnerships to keep related debt off its books. The
partnerships plan to repay the borrowed money by selling the
assets.

                         Other Liabilities

     If Enron loses investment-grade rating, the borrowed money
comes due earlier, leaving less time for the partnerships to find
the best price for the power plants and other assets. Enron would
have to make up any shortfall between what the assets would sell
for and the amount of the debt.

     One way would be issuing common shares to exchange for Enron
preferred convertible shares held by the partnerships. That would
thin out the holdings of every other investor.

     Of the two main bond-rating companies, Moody's and Fitch have
Enron on watch for possible downgrade, and Standard & Poor's
lowered Enron's long-term credit outlook to negative. Egan-Jones
Rating Co. today lowered its rating on Enron's debt to ``BB+,''
one notch below investment grade, from ``BBB-.''

     Enron's liabilities associated with the partnerships amount
to at least $3.3 billion, the company has said.

     Enron ousted Chief Financial Officer Andrew Fastow on
Wednesday amid a Securities and Exchange Commission inquiry into a
partnership he ran that cost the company $35 million in direct
losses. Enron also bought back 62 million shares from the
partnership, reducing shareholder equity by $1.2 billion.

     ``It looks like the guy who was supposed to do everything for
the benefit of shareholders was running partnerships for the
benefit of himself,'' Fifth Third's Cassady said.

     Jeff McMahon, head of Enron's industrial markets group, was
named CFO in a bid to restore investor confidence, Lay said in a
statement.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees

10/26/2001
Business Wire
(Copyright (c) 2001, Business Wire)

SEATTLE--(BUSINESS WIRE)--Oct. 26, 2001--Seattle's Keller Rohrback L.L.P. is currently investigating potential ERISA claims on behalf of participants and beneficiaries of Enron's retirement and 401(k) plans.
The investigation period covers January 2000 through October 2001. The investigation focuses on concerns that, under the law interpreting ERISA, Enron and its plan administrators may have breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, it may be alleged that Enron and the plan administrators may have withheld and concealed material information, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in company stock and the Plans. This investigation is being conducted in light of recent events.
On Oct. 16, 2001, Enron surprised the market when it announced that the Company was taking "non-recurring charges totaling $1.01 billion after-tax, or ($1.11) loss per diluted share," in the third quarter of 2001. Enron later revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships, controlled by Enron's CFO, and that the Company would be eliminating more than $1 billion in shareholder equity as a result of its unwinding of the investments. As this news began to be assimilated by the market, the price of Enron common stock dropped significantly. In addition, several recently filed securities suits allege that Enron executives engaged in extensive insider trading, gaining millions of dollars in personal proceeds. Enron retirees have lost a substantial portion of their retirement earnings due to the drop in value of their retirement assets.
If you are a member of an Enron retirement plan, wish to discuss this announcement, or have information relevant to the investigation, you may contact paralegal Liza Catabay, or any member of our team (Britt Tinglum, Liza Catabay, or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Seattle's Keller Rohrback L.L.P. has successfully represented shareholders and consumers in class action cases for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Liza Catabay, 800/776-6044 investor@kellerrohrback.com www.SeattleClassAction.com
15:16 EDT OCTOBER 26, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Chris

Did commercial settle with Sithe that would have resulted in us receiving $14,634,671.65 on May 31, 2002.  Know anything about this??
thanks
Margaret
 -----Original Message-----
From: 	Britain, Jerry
Sent:	Monday, June 10, 2002 9:01 AM
To:	Aguilar, Darrell; Alexander, Ellen; Appelget, Russell L; Ayers, Sarah; Barta, Tammy; Becton, Pam; Blaskowski, Carrie; Bob, Winston; Bone, Vicki; Brannen, Debra; Britain, Jerry; Brown, Dennis K.; Brown, Jim; Bunting, Christy; Burnett, Stacey; Camacho, Noemi; Camarillo, Juan; Campbell, Melissa; Cash, Larry; Clark, Elise; Clifford, Nicole; Cockrell, Rainier; Corrigan, Jim; Davis, Frank L.; Dhont, Margaret; Doner, Max; Downey, Patricia; East, Laynie; Fischer, Mary; Francis-Kistow, Karen; Free, Darryl S.; Gowen, Theresa; Haralson, Nancy L; Helton, Susan; Hernandez, Elizabeth L.; Herrera, Olga; Herrmann, Karen; Jackson, Nikole; Johnson, Eric; Johnson, Trenton; Kanellopoulos, Drew; Kennedy, Phyllis R.; Klussmann, Troy; Koerselman, Lisa; Kokenge, Johnna; LaBaume, Wanda; Lamb, Marnie; Leneveu, Dan; Lessor, James N.; Lew, Elsie; Long, Lindsay; Massey, Rachel; Matheson, A.k.; Medwedeff, Mark; Miroballi, Angelo; Moryl, Heidi; Nelson, Kimberley; Newgard, Jim; Nguyen, Quyen; Nutt, Jeff; Orellana, Richard; Peoples, Dexter; Pittenger, Cathy; Pratt, Roxanna; Quaintance Jr., Alan; Quirsfeld, Amy; Ray, Sara; Reidy, John; Scheibe, Charles  ; Sherrill, Cathy; Shoup, Cynthia; Siewert, Sherri; Smith, Angela; Smith, Jeff E.; Solis, Alicia; Sweet, Trudy; Ueckert, Allen W.; Umbower, Denae; Varkey, Shiji; Vickers, Rodney ; Vos, Theresa; White, Nicole; Wilkinson, Benny; Williams, Gwendolyn; Winfrey, Christa; Wingenter II, Robert
Subject:	Cash Deposits That Need Coding - Co 0446

The following is list of cash received by Co 0446, Citibank, New York, Account No. 30469918, where coding is needed so that the cash may be applied:

	Date		Amount		Reference

	04/10/02	$25,861.67	Andex Resources - Inv # EWS 0302
	04/10/02	$2,261.30	Andex Resources - Inv # EWS 0401
	04/11/02	$2,113.79	Enron Enserco, LLC Bank Acct. Closure
	04/11/02	$136,783.06	Enron Enserco, Inc Bank Acct Closure
	04/19/02	$7,001.34	Gulfmark Energy
	04/19/02	$56,421.49	ECTMI Trutta Holdings LP - Condor Service Fee
	04/30/02	$1,350.00	Plains Marketing LP - W20620 - NETOUT
	05/09/02	$2,438.58	Kinder Morgan
	05/14/02	$17,495.56	Peoples Energy Resources - Enron MW, LLC
	05/14/02	$3,091,250.34	Peoples Gas Light and Coke Company - Enron MW, LLC
	05/17/02	$800,000.00	Enron Administration Service Corp Investment Acount
	05/20/02	$4,001.29	Gulfmark Energy, Inc
	05/31/02	$14,634,671.65	Sithe Independence Funding Pmt 5/31/02

Please provide me with the coding for these items so that the cash can be applied.

Thanks for your help.

Jerry L. Britain
x5-4456


Ever get the POR info?


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/22/2001
09:31 AM ---------------------------
From: Todd Kimberlain/ENRON@enronXgate on 02/21/2001 02:26 PM
To: Kyle Berryman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bob
Beyer/ENRON@enronXgate, Reno Casimir/ENRON@enronXgate, Huy
Dinh/ENRON@enronXgate, Partho Ghosh/ENRON@enronXgate, "Gil, Eduardo"
<Eduardo.Gil@ENRON.com>@SMTP@enronXgate, D Todd Hall/ENRON@enronXgate, Joseph
Hrgovcic/ENRON@enronXgate, Michael Nguyen/ENRON@enronXgate, Timothy M
Norton/ENRON@enronXgate, Sandeep Ramachandran/ENRON@enronXgate, Claudio
Ribeiro/ENRON@enronXgate, Rajib Saha/ENRON@enronXgate, Valter
Stoiani/ENRON@enronXgate, Mark Tawney/ENRON@enronXgate, Gary
Taylor/ENRON@enronXgate, Yannis Tzamouranis/ENRON@enronXgate, Steven
Vu/ENRON@enronXgate, Catherine Woolgar/ENRON@enronXgate, Stephen
Bennett/NA/Enron@ENRON, Todd DeCook/Corp/Enron@Enron, Vince J
Kaminski/HOU/ECT@ECT, Jose Marquez/Corp/Enron@ENRON, Andy
Pace/NA/Enron@Enron, Mike A Roberts/HOU/ECT@ECT, David Ryan/Corp/Enron@ENRON
cc:
Subject: web site

To All:

I forgot to send along the web site in my last e-mail.  Sorry about that.

Todd

http://garnet.acns.fsu.edu/~jelsner/www/


I thought we already sent him docs.

Ox?

-----Original Message-----
From: Arnold, John
Sent: Sun 10/7/2001 11:29 AM
To: Lavorato, John
Cc:
Subject: RE:

yes, he'll be at work on monday.  can you have docs ready sometime during the day?

by the way, these are crappy pics.  The prediction company says you go 4-7.

-----Original Message-----
From: Lavorato, John
Sent: Sunday, October 07, 2001 11:26 AM
To: Arnold, John
Subject:

john

did you talk to mike.  is he okay with my condition.

current 1085

all 150

balt -3.5
sd -3
phili -14
atl -3
cinci +5
minn +3.5
ne +9
ne/mia over 35
gb +3
 oak -18
car +7


Kam,

Could you please grant me access to the "EAST-P/L Totals" and "EAST POSITION Totals" Reports.  They are currently being sent to me via e-mail but I am unable to open them.

Best Regards,

Jon


let's do our bet tomorrow night.  i will give you 2 strokes.


---------------------- Forwarded by Tori Kuykendall/HOU/ECT on 05/09/2001
10:25 AM ---------------------------

"Rachel Haygood" <RHAYGOOD@Darbylaw.com> on 05/09/2001 09:43:38 AM
To: "Bridget Andriani" <BANDRIANI@Darbylaw.com>, "Kathleen Giorgi"
<KGIORGI@Darbylaw.com>, <MLEGNETTI@Darbylaw.com>, "Rita Murphy"
<RMURPHY@Darbylaw.com>, <tkuyken@enron.com>, <cynthiahibsch@msn.com>,
<mcrawford@russellstephens.com>
cc:
Subject: Fwd: FW: Careful what you write...

Received: from exchange.gscpartners.com ([216.213.79.61]) by darbylaw.com;
Wed, 09 May 2001 10:08:40 -0400
Received: by exchange.gscp2.com with Internet Mail Service (5.5.2653.19) id
<KKV2SQYR>; Wed, 9 May 2001 10:09:06 -0400
Message-ID: <4B2286395739D311BB13009027517574D748C3@exchange.gscp2.com>
From: " Kratish, Alison" <akratish@gscpartners.com>
To: "'rhaygood@darbylaw.com'" <rhaygood@darbylaw.com>
Subject: FW: Careful what you write...
Date: Wed, 9 May 2001 10:09:05 -0400
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
Content-Type: text/plain; charset="iso-8859-1"

-----Original Message-----
From: Inglesby, Thomas V.
Sent: Wednesday, May 09, 2001 10:02 AM
To: Kratish, Alison
Subject: FW: Careful what you write...

A man enters his favorite ritzy restaurant and while sitting at his regular
table, he noticed a gorgeous woman sitting at a table nearby....all alone.
He calls the waiter over and asks for their most expensive bottle of Merlot
to be sent over to her - knowing that if she accepts it, she is his.

The waiter gets the bottle and quickly sends it over to the girl, saying
this from the gentleman. She looks at the wine and decides to send a note
over to the man.  The note read: "For me to accept this bottle, you need to
have a Mercedes in your garage, a million dollars in the bank, and 7 Inches
in your pants."

The man, after reading the note, sends one of his own back to her and it
read: "Just so you know - I  happen to have a Ferrari Testarosa, a BMW
850iL, and a Mercedes 560SEL in my garage; plus I have over twenty million
dollars in the bank. But, not even for a woman beautiful as you, would I cut
off
three inches.  Just send the bottle back."

============================================================================
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http://www.legalinnovators.com


Janice told me that he would be in the office today.  Would The Met be OK?

Thanks, Ricki

-----Original Message-----
From: Corman, Shelley
Sent: Friday, February 08, 2002 4:32 PM
To: Winters, Ricki
Subject: Re: Lunch on Monday

Somewhere convenient to Jim since he has to come from Beltway/EOTT.  Will he come down Wetheimer?  If so we can meet at Highland Village - Grotto is it?  Or if he comes down I-10n then ??
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Greetings!

One or more people have evaluated your performance as a boss at
ImproveNow.com. The results have been compiled and are strictly confidential,
for your eyes only.  You may review your results by logging on to a secure,
password-protected area of our site at:

http://www.improvenow.com/assessments/IYBoss/BossResults/

Your login is: rhaysle@enron.com
Your password is: 84ot8g

If you have login problems, go to:
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We trust that your employees chose to participate in this process in a spirit
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results link to a customized list of resources we've recommended to improve
your performance in key areas.

And if you believe that simply letting your people know that you're listening
to them, that you care about their opinions, and that you intend to change
things for the better can have a profound effect on morale, we recommend you
initiate a "top-down" assessment.  It takes only a minute and can be done at:

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CEO, ImproveNow.com


Ben:

The attached fil econtains a Cinergy Indemnity Letter, which I've prepared at
the request of Stuart Zisman.

PLease give Stuart a call if you have any questions (ext. 3-7493).

Take care,

Ed Hearn

(Select  your Lotus Notes LAUNCH feature to open the file with correct
formatting.)


YES

From: Jeff Dasovich on 04/27/2001 02:44 PM
Sent by: Jeff Dasovich
To: Richard Shapiro/NA/Enron@Enron
cc:

Subject: Re: ken lay tour

I'm assuming that you're in the loop on this decision making?

Best,
Jeff

	Janel Guerrero
	04/27/2001 02:39 PM

		 To: Rosalee Fleming/Corp/Enron@ENRON, Maureen McVicker/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron
		 cc: Richard Shapiro/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT
		 Subject: ken lay tour

Just so we're all on the same page......Dasovich will arrive in Houston on
Monday (mid-day) and will travel with Dr. Lay beginning on Wednesday (to
Austin) and then on to LAX, Sacramento etc.  Steve said there really isn't
time to have a pre-briefing so any questions that Ken has will have to be
addressed enroute to CA.

Rosalee....we're giving Steve the briefing book today so he can review over
the weekend and we'll have a final copy to Ken before he departs next week.


Attached is my response.  Sara


McNown and Toomer for Horn and Culpepper


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 08/16/2000
10:58 AM ---------------------------

	From:  David W Delainey                           08/15/2000 01:28 PM

Sent by: Kay Chapman
To: Tim Belden/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Christopher F
Calger/PDX/ECT@ECT, W David Duran/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Jeff Donahue/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, C John
Thompson/Corp/Enron@ENRON, Scott Josey/Corp/Enron@ENRON, Rob
Milnthorp/CAL/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON, Beth
Perlman/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, David
Oxley/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, Jordan Mintz/HOU/ECT@ECT, Mark
E Haedicke/HOU/ECT@ECT
cc: Mollie Gustafson/PDX/ECT@ECT, Felicia Doan/HOU/ECT@ECT, Ina
Rangel/HOU/ECT@ECT, Kimberly Brown/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT,
Christy Chapman/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Marsha
Schiller/HOU/ECT@ECT, Lillian Carroll/HOU/ECT@ECT, Tonai
Lehr/Corp/Enron@ENRON, Nicole Mayer/HOU/ECT@ECT, Darlene C
Forsyth/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT, Angela
McCulloch/CAL/ECT@ECT, Pilar Cerezo/NA/Enron@ENRON, Cherylene R
Westbrook/HOU/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Nicki
Daw/NA/Enron@Enron, Kimberly Hillis/HOU/ECT@ect
Subject: ENA Management Committee

This is a reminder !!!!!  There will be a Friday Meeting August 18, 2000.
This meeting replaces the every Friday Meeting and will be held every other
Friday.

    Date:  Friday August 18, 2000

    Time:  2:30 pm - 4:30 pm

    Location: 30C1

    Topic:   ENA Management Committee

If you have any questions or conflicts, please feel free to call me (3-0643)
or Bev (3-7857).

Thanks,

Kay 3-0643


Attached is the Enron Corp. guarantee and the in-house legal opinion with
respect to the above.  Should you have any questions or comments, please feel
free to contact me at (713) 8 53-5986 or by facsimile (713) 646-5847.

Regards,

Clement

GUARANTEE:

OPINION:


---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 07/07/99 05:37
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Geoff Mathews <GeoffM@citizenspower.com>
06/22/99 08:53 AM

To: Elizabeth Sager/HOU/ECT
cc:
Subject: Enron Master Agreement

Good morning, Elizabeth.

I thought I would send you the comments and suggested revisions I put
together when I reviewed the proposed master agreement.  Hopefully we can
shorten the negotiation process this way.
I look forward to hearing from you when you've had a chance to look this
over.

Geoff Mathews

 <<Enron Master Agreement.doc>>

 - Enron Master Agreement.doc


I spoke with Kim Hundle and deal # 458802 is not with EES I wasn't sure if I
had wrote the number down wrong or not.  Sorry.    I also spoke with Neil
Bresnan after we had spoke and he had said it should be no problem getting
you on the list.  I will check again and I apologize for the delay.
Thanks
Judy
---------------------- Forwarded by Judy Dyer/HOU/EES on 02/14/2001 12:21 PM
---------------------------

Jubran Whalan
11/14/2000 02:43 PM
To: Term Hedges for EES Portfolio
cc:
Subject: 11/14


Michelle
What is your opinion related to OneOk's invoice underpayments related to the Libcomb/Mocane outage.  This past due amount is getting old and it needs to be resolved?  I just don't want this difference to be outstanding on the AR aging much longer.

thanks

 -----Original Message-----
From: 	Hernandez, Bert
Sent:	Tuesday, September 25, 2001 4:26 PM
To:	Lokay, Michelle
Cc:	Hanagriff, Richard
Subject:	ONEOK BUSHTON INVOICES

Michelle,

Oneok Bushton (Sherry Rogers) has not returned my calls regarding the outstanding payment of the following invoices on firm transportation contract 25374:

Invoice		Due Date	Amount
213760		07/13/01	32,984.02	June Reservation
213986		07/13/01	  1,515.99	June Commodity (delivery of 163,009 MM's to TW/NNG Beaver, 6/1-6/11)
214462		08/13/01	35,305.88	July Reservation
214159		08/13/01	     344.12	July Commodity (delivery of 37,002 MM's to TW/NNG Beaver, 7/2/-7/31)

				(18,509.88)	Partial payment received 8/17/01 (detail unknown)

				51,640.13	Outstanding balance (not including late payment charges)

Sherry originally called me in mid July to question why we were billing the full reservation amount for June since we were experiencing a "force majeure" at the Lipscomb/Mocane lateral that included the TW/NNG Beaver (primary delivery point) facility.  The outage was termed planned maintenance for June 12, but unplanned maintenance for June 13 through July 27.  If you need any additional information, please call me.

Thanks,  Bert


Please see the review below, which I agree with.  Mark Greenberg is my elaw
expert.  Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 11/22/2000 08:50 AM -----

	Mark Greenberg@ENRON
	11/22/2000 08:06 AM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: Re: eLaw

Mark -

I reviewed the information below and the current functionality of the
website.  Basically, eLaw is a shopping center for legal information.
Currently only information related to Labor & Employment is available, but
construction efforts are focused on many other areas including Antitrust,
Corporate Securities, E-Commerce, Environmental and Intellectual Property.

Since it is a shopping center, it basically works like any other shopping
site.  You search for the information you want, whether it is an article,
legal brief or form document related to the desired topic.  Once you find
something you want, you move it to your "Briefcase" (or shopping cart) and
continue searching.  Once you have finished searching, you go to the check
out screen and, after checking out, down load the information, via e-mail, to
your computer.

As with the legal education site I have been looking at, the central question
is the integrity of the information.  Though it may have been developed by a
reputable source (e.g., Baker & Botts, Baker Hostetler, etc.), concerns as to
age, reliability, and specifically direct applicability, would always
prevail.  The information would be useful as a base or building block, but
there may be additional work to do in order to verify the information or
tailor it to the specific need (especially if the need has specific
jurisdiction requirements).

I would be more than happy to further review the product if you wanted to
pursue it.  However, as I indicated, usefulness at this time may be somewhat
limited given the limited topic areas covered.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com

	Mark E Haedicke@ECT
	11/21/2000 11:39 AM

		 To: Mark Greenberg/NA/Enron@ENRON
		 cc:
		 Subject: eLaw

Please review and give me your brief thoughts on this.  Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 11/21/2000 11:38 AM -----

	Stephen R Horn
	11/19/2000 04:22 PM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: eLaw

Mark,

The Austin Ventures people in Austin who have invested in eLaw have had these
people contact me.  Curious for your perspective of the business plan in the
attached Executive summary  which I exerpted the following:

eLaw is partnering with some of the worlds leading law firms to build
comprehensive databases of proprietary legal analysis and work product that
are accessible online by attorneys.

By leveraging quality, branded work product -- including agreement forms,
briefs, memoranda, pleadings and checklists ) to a much wider audience than
has previously been accomplished, eLaw is creating profound new economies of
scale in the area where a majority of attorneys spend most of their billable
time: legal research and document drafting of transaction and litigation
oriented material.  By using material in the eLaw libraries, eLaw users can:
? Accelerate the research and drafting process by directly accessing a volume
and quality of materials that have previously been available only within
large law firms
? Increase productivity and efficiency and avoid &reinventing the wheel8 (or
paying outside counsel to do so), saving hundreds of dollars per hour
? Reduce fees paid to outside law firms by in-house counsel

Would you please give me a call when you have had a chance to review.

Thanks,

Steve Horn

---------------------- Forwarded by Stephen R Horn/HOU/ECT on 11/19/2000
04:00 PM ---------------------------

Sandra Jimenez <Sjimenez@elaw.com> on 11/16/2000 08:39:42 PM
To: "'shorn@enron.com'" <shorn@enron.com>
cc:
Subject: intro./ Chris Pacitti at AV

Dear Mr. Horn:

Several weeks ago Chris Pacitti, of Austin Ventures, gave me your name as
someone who might be interested in learning more about eLaw.com. I have
attached an executive overview of our business for your review and would
appreciate speaking with you about the business opportunity. I will call you
next week to schedule a mutually agreeable time to speak. I will call you at
713-853-4520. If your phone number is different than the one Chris gave me,
please let me know.

Thank you in advance for your interest and I look forward to speaking with
you soon.

Sandra Jimenez
CEO
sjimenez@elaw.com
Phone: 512-493-3581
Fax: 512-257-7246

 <<Execsumm 11-15-00fin.doc>>

 - Execsumm 11-15-00fin.doc


Attached for your reference is a memo I prepared for Sara on the referenced
subject.


Attached is another redlined draft of the Pastoria IM.  It is much more close
to completion because it now includes comments from all necessary parties.

Please carefully review and send me any changes no later than Monday.  If you
send them today (Sunday) send them via e-mail.  Beginning Monday (12 PM CDT)
I'll be in SF, so if you fax them send them to 415.782.7827.

Please call me at 713.629.0929 or 713.398.6412 should you have any
questions.  Thanks.

PS  for Dave Parquet:  Not all of your proposed changes were made simply
because I could not ready many of them and the changes were too late at night
to call you.  I was asked to get a draft out ASAP so I will call you today
(Sunday) to discuss them.


GREG WHALLEY: IN THE LINE OF FIRE
BusinessWeek, 09/10/01

Enron Wins Document Protection Order From Calif Judge
Dow Jones Energy Service, 09/06/01
Power regulators still debating decisions on key energy issues
Associated Press Newswires, 09/06/01
Black Hills Corp Buys Las Vegas Power Plant
Dow Jones News Service, 09/06/01

Enron's subsidiary serves arbitration notice on Indian government
Associated Press Newswires, 09/06/01
India Enron Subsidiary Serves Arbitration Notice On Govt
Dow Jones International News, 09/06/01
INDIA: US seeks India's cooperation in energy security.
Reuters English News Service, 09/06/01

SPRINGS DECLINES TO JOIN LAWSUIT ON POWER PLANT
South Florida Sun-Sentinel, 09/06/01

California Panel Delays Vote on Power-Provider Choice (Update1)
Bloomberg, 09/06/01

RWE Energy Trading Division to Set Up U.S. Unit, Take on Enron
Bloomberg, 09/06/01

In Business This Week: HEADLINER
GREG WHALLEY: IN THE LINE OF FIRE
By Stephanie Anderson Forest
Edited by Monica Roman

09/10/2001
BusinessWeek
56
(Copyright 2001 McGraw-Hill, Inc.)

Greg Whalley knows a thing or two about getting ready for battle. During the 1980s, the West Point graduate served with the U.S. Army. That experience could come in handy in his new job as president and chief operating officer of Houston energy trader Enron.
Since the beginning of the year, Enron shares have plunged 50% in the wake of dropping energy prices. The stock has also been hit by fallout from other issues, including the company's ailing broadband venture and the abrupt, Aug. 14 resignation of President and CEO Jeffrey Skilling.
Following Skilling's departure, Whalley, 39, was promoted along with Mark Frevert, who was named vice-chairman. Both were elevated to the office of the chairman.
Whalley is now seen by outsiders as the leading contender for Enron's top post. But Chairman Kenneth Lay, who reassumed Enron's CEO title when Skilling stepped down, cautions that the promotions should not be viewed as the last word in the company's succession plan.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron Wins Document Protection Order From Calif Judge
By Jessica Berthold

09/06/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

OF DOW JONES NEWSWIRES
LOS ANGELES -(Dow Jones)- A Sacramento Superior Court judge Thursday ruled that Enron Corp (ENE) must comply with a legislative subpoena of financial documents, but reversed an earlier decision and granted the company a protective order of the documents, according to a copy of the ruling seen by Dow Jones Newswires.
Enron said the ruling was a victory, as the company has always maintained it would be happy to comply with the subpoena by the state Senate committee as long as the company received a protective order.
"We are obviously very happy with the ruling and look forward to working with the committee to come up with a protective order that truly protects our proprietary information," said Enron spokesman Mark Palmer.
The Senate Select Committee To Investigate Market Manipulation has already cited Enron and Reliant Energy, Inc (REI) with contempt for refusing to provide documents, a charge for which the companies could be fined.
Once Enron and the committee draft a protective order and the judge agrees to it, the company will hand over any documents that the committee wants, Palmer said.
However, an attorney for the committee expressed skepticism that the company would actually follow through.
"We have no indication from Enron that they would agree to produce the documents we've requested, even with the confidentiality order," said Larry Drivon, special counsel to the committee.
He added that he could not speculate if the committee would drop its contempt charge if Enron did produce all requested documents.
In his decision granting the protective order, Judge Charles Kobayashi wrote that he was not convinced the committee has solid standards in place to ensure Enron's protection.
"It is clear that there are no standards for determining what are the available protections, no procedure for determining what is a legitimately confidential, privileged, proprietary matter, no procedure for oversight and no prescribed remedy for (Enron) for any unauthorized disclosures," Kobayashi wrote.
Last week, a San Francisco Superior Court judge granted Enron a protective order in a separate investigation by the state attorney general.
-By Jessica Berthold; Dow Jones Newswires; 323-658-3872; jessica.berthold@dowjones.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Power regulators still debating decisions on key energy issues
By KAREN GAUDETTE
Associated Press Writer

09/06/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SAN FRANCISCO (AP) - State power regulators on Thursday once again delayed suspending the option that allows Californians to choose their electricity provider.
Though a mere 200,000 Californians switched from their local utility to companies such as Green Mountain Energy or Enron, the Legislature has ordered the Public Utilities Commission to temporarily end consumer choice to keep three struggling utilities from losing more customers.
Pacific Gas and Electric Co., Southern California Edison Co. and San Diego Gas and Electric Co. are on the hook for the state's power-buying costs.
The PUC is expected to suspend direct access retroactively to July 1. Energy service providers, such as solar and wind-powered electricity seller Green Mountain Energy, say it's unconstitutional, and have vowed to fight the PUC in court.
The PUC also delayed voting on several key issues that would affect Californians' electric bills. It plans to take up these issues at a newly scheduled meeting Sept. 13:
- A proposal to grant the state's power-buying agency the authority to raise electric rates on its own without PUC review to ensure such rates are justified.
- A proposal to raise rates for San Diego Gas and Electric Co. residential customers by an average of 12 percent.
- A proposal that bills Pacific Gas and Electric Co. $6.5 billion, Southern California Edison Co. $4 billion and SDG&E $1.5 billion to help the state recoup its power-buying costs.
PUC President Loretta Lynch said the commission needs more time to review a flood of comments from utilities, consumer advocates and other parties to those decisions.
The state plans to recover some of the money it has spent buying power by collecting a portion of ratepayer money.
The more ratepayers each utility has, the lighter the blow to each customer's electric bill. But it would come at the expense of consumer choice, which lawmakers had promoted as the method by which deregulation would foster competition and lead to lower electric rates.
Rick Counihan, vice president and general manager of Green Mountain Energy, said if the PUC suspends consumer choice until the state stops buying power for the utilities - potentially a decade down the road - consumer choice is dead.
"(Direct access) was one of the few good things that came out of the restructuring," Counihan said.
Just as some environmentally conscious customers buy organic produce or recycled paper products, the option to leave their utility and buy power largely generated by the wind or sun was another way they could make a difference, he said.
Under the PUC plan, customers who signed up with an energy provider before July 1 could keep their contracts until they expire. Deals signed after that date would be nullified, and the customer would be forced to return to a local utility.
PUC Commissioner Richard Bilas, a vocal proponent of direct access, is hopeful it could resume after the finances of PG&E, Edison and SDG&E improve.
"When the utilities get back in the business - if they ever get back in the business of going out and buying electricity on behalf of themselves - that could open up direct access again," Bilas said. He predicted that could happen 18 months from now.
Counihan was less optimistic.
"I'm very skeptical that we, or other providers, will come back to California," Counihan said. "We'll very likely take our marketing activities and reallocate to other states that are more friendly."
Counihan also worried a temporary suspension would give the big three utilities no incentive to retain an infrastructure of computers and other technology put into place to process customers who switched to the alternative energy firms.
---
On the Net:
http://www.cpuc.ca.gov

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Black Hills Corp Buys Las Vegas Power Plant

09/06/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

RAPID CITY, S.D. -(Dow Jones)- Black Hills Corp.'s (BKH) independent energy unit Black Hills Energy Ventures completed the acquisition of a 273-megawatt gas-fired co-generation power plant in Las Vegas from Enron Corp.'s (ENE) Enron North America unit.
Black Hills Energy said in a press release Thursday the cost for the entire facility is expected to be about $330 million. The price of the transaction was previously undisclosed.
Black Hills is in the process of obtaining long-term financing, which primarily will be non-recourse project debt.
Black Hills Energy and Enron's unit signed a definitive agreement for the transaction in July.
New York Stock Exchange-listed shares of Black Hills traded recently at $31.81, down 5 cents, or 0.2%, on composite volume of 48,000 shares. Average daily volume is 178,092 shares.

Black Hills Energy said it minimizes its risk exposure while securing significant recurring revenue and earnings streams by linking the Las Vegas facility to long-term contracts and fuel provision requirements.
An expansion of the present 51-megawatt cogeneration plant is now underway. Most of the power from that facility is under a long-term contract expiring in 2024, with the remainder being merchant power.
Black Hills Energy has sold 50% of the 51-megawatt power plant to another party.
Construction of a new combined cycle generation facility adjacent to the existing plant will add about 222 megawatts of capacity to the existing plant site.
The new generation is expected to be fully operational by the third quarter of 2002.
The power of the expansion is sold under a long-term contract expiring in 2017. The contract requires the purchaser to provide fuel to the power plant when the plant is dispatched.
Company Web site: http://www.blackhillscorp.com
-Consella A. Lee; Dow Jones Newswires; 201-938-5400

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron's subsidiary serves arbitration notice on Indian government

09/06/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

NEW DELHI, India (AP) - The Indian subsidiary of power giant Enron Corp. has served an arbitration notice on Prime Minister Atal Bihari Vajpayee's government for payment of 1.02 billion rupees (dlrs 21.7 million) owed by a state utility company, a news report said Thursday.
The government had provided guarantees that it would meet the obligations of the Maharashtra State Electricity Board if the latter failed to pay for the electricity purchased from one of Houston-based Enron's plants in western India.
The plant stopped operation in May after its sole customer, the Maharashtra State Electricity Board, canceled a sevem-year-old power purchase agreement.
"We sent the arbitration notice on Sept. 4 to the government of India," Press Trust of India news agency quoted Jimmy Mogal, a spokesman for Enron's Indian subsidiary, Dabhol Power Corporation, as saying.
The arbitration proceedings will be held in London, PTI said. No date has been fixed so far.
Enron says the board did not have the right to cancel the agreement.
The state government says that DPC's electricity is overpriced and it favors renegotiation of the power purchase agreement between the company and the state utility. There is a court dispute between Dabhol and the electricity board over payment of outstanding bills.
(aks-gs)

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

India Enron Subsidiary Serves Arbitration Notice On Govt

09/06/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI (AP)--The Indian subsidiary of power giant Enron Corp. (ENE) has served an arbitration notice on Prime Minister Atal Bihari Vajpayee's government for payment of $21.7 million owed by a state utility company, a news report said Thursday.
The government had provided guarantees that it would meet the obligations of the Maharashtra State Electricity Board if the latter failed to pay for the electricity purchased from one of Houston-based Enron's plants in western India.
The plant stopped operation in May after its sole customer, the Maharashtra State Electricity Board, canceled a 7-year-old power-purchase agreement.
"We sent the arbitration notice on Sept. 4 to the government of India," Press Trust of India news agency quoted Jimmy Mogal, a spokesman for Enron's Indian subsidiary, Dabhol Power Corp., as saying.
The arbitration proceedings will take place in London, PTI said. No date has been fixed so far.
Enron says the board didn't have the right to cancel the agreement.
The state government says DPC's electricity is overpriced, and it favors renegotiation of the power-purchase agreement between the company and the state utility. There is a court dispute between Dabhol and the electricity board on payment of outstanding bills.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

INDIA: US seeks India's cooperation in energy security.

09/06/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, Sept 6 (Reuters) - The United States has sought India's cooperation in protecting oil and gas supplies from the the volatile Middle East region, the main supplier of crude oil for both the countries.
"The Persian Gulf, and the lines of communication connecting that region with the rest of the world remain critical for the security of both countries," U.S. Ambassador Robert D. Blackwill told a business conference on Thursday.
He said the United States and its allies depended on the Middle East for half of their crude oil imports, while India banked on the region for 90 percent of such imports.
"Consequently, the flow of oil and gas from the Middle East must be safeguarded and free of threats stemming either from military aggression or from acts of terrorism," he said.
"Parallel with efforts by the international community, the United States and India can work more closely together to achieve this objective."
He said both countries wanted a higher global supply of energy as the current production levels were inadequate.
"This implies that there will be increasing joint opportunities to exploit new technologies to increase energy supplies."
Blackwill said American energy firms were world leaders and their investments in the U.S. and abroad enhanced efficiencies.
"Despite current difficulties, we hope those U.S. firms can thrive in India."
U.S. energy firm, Enron Corp , is embroiled in a bitter payments dispute with a local utility and has declared it wants to sell its 65-percent stake in the $2.9-billion Dabhol power plant-the largest direct foreign investment in India.
Another American energy firm, AES Corp is also facing a payments dispute and said recently it wanted to sell its stake in a distribution company in the eastern state of Orissa.
Blackwill said problems faced by multinational investors had "darkened" India's investment climate.
"I know this personally from speaking with some of the premier American business executives with major investments in Asia."

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

LOCAL
SPRINGS DECLINES TO JOIN LAWSUIT ON POWER PLANT
Sallie James Staff Writer Staff Writer Jeremy Milarsky contributed to this report.

09/06/2001
South Florida Sun-Sentinel
Broward Metro
4B
(Copyright 2001 by the Sun-Sentinel)

A tiff may be brewing among three north Broward cities whose concerns about a power plant have already spawned a lawsuit.
So far, the city of Coconut Creek has sued the city of Deerfield Beach, claiming Deerfield illegally approved a site plan that would allow Enron Corp. to build a power plant east of Florida's Turnpike.
Now Coconut Creek officials are trying to draw Coral Springs into the fray, asking the city to join its lawsuit with some financial assistance and public backing. So far, Coral Springs has declined.
Coral Springs Commissioner Rhonda Calhoun called the maneuverings "treacherous," and the dialogue among city officials is becoming contentious.
The lawsuit, filed in July, accuses Deerfield Beach of illegally approving a site plan.
In the suit, Coconut Creek officials claim Deerfield Beach erroneously approved the plant because it overlooked a loophole in a zoning law. Because of a complicated 1990 annexation law, only City Hall staff members could decide whether Enron could build its plant in Deerfield Beach.
Staff members could reject the project only if they could prove the plant broke city laws.
Coral Springs is reluctant to sue a sister city and twice has delayed action on Coconut Creek's request to become a party to their lawsuit. Coconut Creek Vice Mayor Jim Waldman and Mayor Gloria Fantl both tried to convince Coral Springs officials they really would not be suing the city.
Just don't think of The City of Coconut Creek vs. the City of Deerfield Beach as a lawsuit, Waldman told Coral Springs commissioners on Tuesday. He suggested they view it as "empowerment" instead.
"It is not a city suing a city," said Waldman, even though Coral Springs City Attorney Sam Goren affirmed the litigation is most definitely a city suing a city. "What we are actually doing is empowering Deerfield Beach, their elected officials, to do what they wanted to do. The vehicle, unfortunately, is through the legal system, and it says we have to sue the party who made the decision."
Waldman's comments irked Deerfield Mayor Al Capellini.
"Our fellow commissioners in Coconut Creek ... they are ... trying to convince Coral Springs to join in their suit against Deerfield Beach. So next time you're going through Coconut Creek, think about that," Capellini said to the audience at Tuesday's Deerfield Beach commission meeting.
Afterward, he added, "If Jim Waldman was concerned about empowering us, why don't they pick up the phone and have a discussion with us? Do they think a lawsuit is a proper way to spend taxpayers' money? We find it offensive that they think our city attorney and our five commissioners don't know how to interpret the law."
Coral Springs Mayor John Sommerer also was also wary.
"I have heard commissioners from Deerfield Beach say they don't know what the heck Coconut Creek is trying to pull," Sommerer said.
Staff Writer Jeremy Milarsky contributed to this report.
Sallie James can be reached at sjames@sun-sentinel.com or 954-572- 2019.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

California Panel Delays Vote on Power-Provider Choice (Update1)
2001-09-06 15:34 (New York)

California Panel Delays Vote on Power-Provider Choice (Update1)

     (Adds comments from PUC commissioner in seventh, eighth
paragraphs.)

     San Francisco, Sept. 6 (Bloomberg) -- California regulators
delayed a vote on a plan to suspend utility customers' right to
choose their own power provider, a move officials say is needed to
ensure there is a market for electricity the state is buying.

     The California Public Utilities Commission will consider the
issue of so-called ``direct access'' at a meeting on Sept. 13. The
delay gives customers of three state utilities more time to switch
power providers, leaving fewer customers behind to help the state
recover its costs, officials said.

     ``The longer that we drag this thing out, the more damage
that is going to be done,'' said Commissioner Carl Wood.

     The state has spent more than $8.6 billion buying power on
behalf of utilities owned by PG&E Corp., Edison International and
Sempra Energy. PG&E's Pacific Gas & Electric and Edison's Southern
California Edison became insolvent buying power for more than they
could charge customers. Rates paid by utility customers would help
reimburse the state for power-buying expenses.

     One of the promises of the deregulation of California's
electricity market was that customers would be allowed to leave
Pacific Gas & Electric, Southern California Edison or Sempra's San
Diego Gas & Electric and buy electricity provided by other
companies. Assembly Bill 1X, the legislation that allowed
California to buy power on behalf of utilities, called for the
suspension of direct access.

                         Bilas Delays Vote

     The vote was delayed by PUC member Richard Bilas. Bilas is
one of two commissioners appointed by former Governor Pete Wilson,
a Republican, and is a supporter of power-provider choice. The
other three commissioners were appointed by Governor Gray Davis,
who signed Assembly Bill 1X in February.

     After the meeting, Bilas said he delayed the vote to give
utility customers more time to switch their energy provider. Bilas
was able to delay the vote because he had an alternate proposal on
the issue on the PUC agenda.

     ``Direct access hasn't died yet,'' Bilas told reporters.
``It'll go to heaven next Thursday I believe -- probably on a 3-2
vote.''

     In July, the latest month for which data is available, 7,647
California customers switched to a direct-access power provider
from a utility, according to the PUC. Another 7,494 customers
switched to a utility from a direct-access provider.

     The PUC's plan to suspend direct access is opposed by the
Alliance for Retail Energy Markets, a group that includes such
power providers as Enron Corp., AES NewEnergy, Calpine Corp. and
Green Mountain Energy Co.

RWE Energy Trading Division to Set Up U.S. Unit, Take on Enron
2001-09-06 09:42 (New York)

RWE Energy Trading Division to Set Up U.S. Unit, Take on Enron

     Essen, Germany, Sept. 6 (Bloomberg) -- RWE AG, Europe's No. 4
power company, said it's setting up an energy trading unit in
Texas, bidding to take on Enron Corp. on its home turf.

     RWE Trading Americas will be run by Bill Coorsh, the German
company said in a faxed statement. As in Europe, RWE will trade
electricity, gas, coal and oil in the Americas, the company said.

     Chief Executive Dietmar Kuhnt has repeatedly said the Essen-
based company wants to expand its trading operations, and in June
singled out the U.S. market as one of the main expansion areas.

     ``We want to take advantage of the extremely attractive
opportunities in the U.S. energy trading market,'' RWE said.

     RWE will compete with Enron, the biggest energy trader that's
also based in Houston. RWE Trading has said it wants to become one
of Europe's top traders. The U.S. unit will be built up ``in
parallel'' with the European expansion, RWE said.


------------------------------------------------------------------------------------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

September 7, 2001 5:00pm through September 10, 2001 12:00am
------------------------------------------------------------------------------------------------------

NOTICE:	Long Distance Conversion to MCI for EB PBX
Time:  Fri 9/7/2001 at  5:30:00 PM CT thru Fri 9/7/2001 at  6:00:00 PM CT
	Fri 9/7/2001 at  3:30:00 PM PT thru Fri 9/7/2001 at  4:00:00 PM PT
	Fri 9/7/2001 at 11:30:00 PM London thru Sat 9/8/2001 at  12:00:00 AM London
Environments Impacted:  All ECN Outbound Long Distance--- NO DISRUPTION OF SERVICE ANTICIPATED
	This change affects Enron Building outbound long distance only.  3AC change will be completed next week.  No service disruption is anticipated.  This only affects outbound long distance from the Enron Building.  Tie line services remain unchanged.  Dialing patterns remain the same:  9+1+A/C+7-digit number for domestic calls or 9+011+10-digit number for international calls.
Purpose: MCI is replacing AT&T as Enron's primary long distance carrier.
Backout: Divert back to AT&T route pattern as first choice.
Contact(s): 	Cynthia Siniard    713-853-0558

NOTICE:	Voice Mail 30 Day Retention Change
EFFECTIVE: Monday 9-10-01 at 6:00pm
Technical Description
Change Basic Class of Restriction for all Audixes to reflect new voice mail message retention time of 30 days.

Environments Impacted
Employees who currently have messages older than 30 days in their mailbox will lose those messages once this change has been implemented.  If those messages or future messages must be saved, they will need to transcribe them or record them to a handheld recording device.  Once these messages and future messages have been deleted, they will not be retrievable.
Contact(s): 	Kathy Bigelow 713-345-57242

SCHEDULED SYSTEM OUTAGES:  NA

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

EES:      SEE ORIGINAL REPORT

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages

ENRON NORTH AMERICAN LANS:  	ALSO SEE ORIGINAL REPORT
Impact:  Traders            POSTPONED
Time:  Sat 9/8/2001 at  12:00:00 AM CT thru Sat 9/8/2001 a  12:30:00 AM CT
	Fri 9/7/2001 at    10:00:00 PM PT thru Fri 9/7/2001 at  10:30:00 AM PT
	Sat 9/8/2001 at  6:00:00 AM London thru Sat 9/8/2001 at  6:30:00 AM London
Outage:  Upgrade TRD-CX11 & TRD-CX12
Environments Impacted:  Traders
Purpose: We need to add additional gig ports to support a new traders cluster, we have to upgrade the code on the switches to support the new gig blade
Backout: Load the old version of code, reboot
Contact(s): 	Vincent Fox                     713-853-5337
		Christopher M Ducker    713-345-8241

Impact:  Traders          POSTPONED
Time:  Sat 9/8/2001 at  12:30:00 AM CT thru Sat 9/8/2001 at  1:00:00 AM CT
	Fri 9/7/2001 at  10:30:00 PM PT thru Fri 9/7/2001 at  11:00:00 PM PT
	Sat 9/8/2001 at  6:30:00 AM London thru Sat 9/8/2001 at  7:00:00 AM London
Outage:  Upgrade Trader 1 and 2 switch and router code
Environments Impacted:  Traders
Purpose: Bug in code is filling up logs
Backout: Replace new cards with old cards, reboot boxes.
Contact(s): 	Christopher M Ducker    713-345-8241
		Vincent Fox                     713-853-5337

Impact:  CORP
Time:  Fri 9/7/2001 at  4:45:00 PM CT thru Fri 9/7/2001 at  5:15:00 PM CT
	Fri 9/7/2001 at  2:45:00 PM PT thru Fri 9/7/2001 at  3:15:00 PM PT
	Fri 9/7/2001 at  10:45:00 PM London thru Fri 9/7/2001 at  11:15:00 PM London
Outage:  Upgrading IOS on WAN Trader Router CR2
Environments Impacted:  Corp
Purpose: To utilize the NBAR feature to aid in "Code Red" traffic identification and mitigation.
Backout:
Contact(s): 	Tomas Mendez    713-345-3250

Impact:  CORP
Time:  Sun 9/9/2001 at  10:00:00 AM CT thru Sun 9/9/2001 at  10:30:00 AM CT
	Sun 9/9/2001 at    8:00:00 AM PT thru Sun 9/9/2001 at    8:30:00 AM PT
	Sun 9/9/2001 at  4:00:00 PM London thru Sun 9/9/2001 at  4:30:00 PM London
Outage:  Upgrading IOS on WAN Trader Router CR1
Environments Impacted:  Corp
Purpose: To utilize the NBAR feature to aid in "Code Red" traffic identification and mitigation.
Backout:
Contact(s): 	Tomas Mendez    713-345-3250

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING:    ALSO SEE ORIGINAL REPORT
Impact:  All mailbox servers(list in description)
Time:  Sat 9/8/2001 at  11:30:00 PM CT thru Sun 9/9/2001 at  1:30:00 AM CT
	Sat 9/8/2001 at    9:30:00 PM PT thru Sat 9/8/2001 at  11:30:00 PM PT
	Sun 9/9/2001 at  5:30:00 AM London thru Sun 9/9/2001 at  7:30:00 AM London
Outage:  All NA Exchange mailbox servers
Environments Impacted:  All NA Exchange mailbox users.
Purpose: To enable Outlook Access via Econnect VPN.
Backout: remove registry changes
Contact(s): 	David Lin    713-345-1619

Impact:  Nahou-mspfs01p 02p and 03p
Time:  Sat 9/8/2001 at  11:00:00 PM CT thru Sat 9/8/2001 at  11:30:00 PM CT
	Sat 9/8/2001 at    9:00:00 PM PT thru Sat 9/8/2001 at     9:30:00 PM PT
	Sun 9/9/2001 at  5:00:00 AM London thru Sun 9/9/2001 at  5:30:00 AM London
Outage:  Public Folder Servers
Environments Impacted:  All Exchange server users
Purpose: To enable Outlook Access via Econnect VPN.
Backout: remove Registry changes.
Contact(s): 	David Lin    713-345-1619

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS:     ALSO SEE ORIGINAL REPORT
Impact:  CORP
Time:  Fri 9/7/2001 at  9:00:00 PM CT thru Fri 9/7/2001 at  11:00:00 PM CT
	Fri 9/7/2001 at  7:00:00 PM PT thru Fri 9/7/2001 at    9:00:00 PM PT
	Sat 9/8/2001 at  3:00:00 AM London thru Sat 9/8/2001 at  5:00:00 AM London
Outage:  Cluster6 Expansion
Environments Impacted:  Corp, User H: drives on Nahou-UV12, Nahou-UV13, Nahou-UV14, Nahou-UV15, and several of the folders on the O: drive.
Purpose: We must expand the disk space on Cluster6 in order to migrate the new users from EBS and EES to Corp, and also for our ever expanding Corp environment.
Backout:
Contact(s): 	Frank Coles    (713)406-0470

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

SCHEDULED SYSTEM OUTAGES: LONDON
Impact:  CORP
Time:  Fri 9/7/2001 at  6:00:00 PM CT thru Sat 9/8/2001 at 9:00:00 PM CT
	Fri 9/7/2001 at  4:00:00 PM PT thru Sat 9/8/2001 at  7:00:00 PM PT
	Sat 9/8/2001 at  12:00:00 AM London thru Sun 9/9/2001 at  3:00:00 AM London
Outage:  Complete Powerdown of the London office
Environments Impacted:  All
Purpose: Installation of a third generator at Enron House
Backout: Switch all equipment back on.
Contact(s): 	Tracy Pearson    830-34238 London Tie Line

----------------------------------------------------------------------------------------------------------------------------
								FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center

Specific Help:
Information Risk Management			(713) 853-5536
SAP/ISC                                                                               (713) 345-4727
Unify On-Call 					(713) 284-3757  [Pager]
Sitara On-Call					(713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS			(713) 639-9726  [Pager]
OSS/UA4/TARP				(713) 285-3165  [Pager]
CPR						(713) 284-4175  [Pager]
EDI Support 					(713) 327-3893  [Pager]
EES Help Desk					(713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call                    (713) 327-6032 [Pager]


Phillip,

FYI  I will be on vacation from 9/22 until 10/11.

See you in two weeks.
Robin


Forgot the attachment. Here it is.

---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/12/2000
07:39 AM ---------------------------

Rod Hayslett

12/12/2000 07:36 AM
To:
cc:

Subject: 2001 Goals

Here is a start at the 2001 goals.      It will take more specifics before it
is done, dates and measureable objectives but it is a start.     Please feel
free to suggest changes, additions, deletions.     In the end we will turn
this idea list into a scorecard.    I have not meant to exclude anyone, but I
didn't get a lot of input from everyone on the beginning of the list.
Thanks to Jim there is a longer list, than I might have started with.


Let's discuss - there were quite a few changes to be done first.

The first place to demo will be the Thursday lunch meeting to the Net Works
team when ready.

Thomas D Gros@ENRON
12/12/2000 01:13 PM
To: Louise Kitchen/HOU/ECT@ECT
cc: Greg Whalley/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT, Sally
Beck/HOU/ECT@ECT

Subject: CommodityLogic All-Module Demo

If you would like, the team will be prepared to show live demonstrations of
the latest versions of all four CommodityLogic modules next Thursday,
December 21st.  This would probably require about 2 hours.  The versions
displayed will be:

Financial Management Module 2.0
Financial Invoice Exchange 1.1
Confirm Central 1.0
Contract Exchange 1.0

Please let us know if you are interested in attending.

All the best,

Tom


The new deal #s are 147888,147889.

-E


CALENDAR ENTRY:	REMINDER

Description:
	Russell on call

Date:		7/22/2001
Time:		8:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description: