1. Class next week is one of two places.

A) Saturday 11-2 in C230.  Section will follow.  We will have only 15 minutes
for lunch, so please bring a brown bag and do not count on visiting a
restaurant.
        or
B) Wed. in C230 at the regular time (but a larger room).
        There will not be class on Thanksgiving.

2. Please read the attachment in Word 6 (or plain text below) before class
next
week.

3. Also read "The Open Economy" and "The Open Economy in the Short Run,"
Mankiw
Chapters 7&11
Homework #5:
Prepare Mankiw problem 5, p. 213 for class.
i.      Explain the claim that "Countries that run persistent trade
deficits are
also net borrowers."
ii.     Why is monetary policy less effective with fixed exchange rates than
with flexible?
iii. Why is fiscal policy less effective with flexible exchange rates than
with
fixed?

David Levine    November 18, 1999
B.A. 201B       Macroeconomics

        Some Open Economy Macroeconomics

        Accounting:  Recall that Net Exports = NX = Exports - Imports.
Also, in
an open economy, Y = C + I + G + NX.  When exports rise, foreigners buy more
of
our output; thus, aggregate demand for domestically produced goods rises.
When
imports rise we are buying from foreigners, so imported purchases do not enter
domestic aggregate demand.

        NX = trade surplus = -trade deficit = net borrowing from abroad.  When
NX is negative (imports > exports), we have a trade deficit.  This is financed
by borrowing from abroad.  To a first approximation, when the US spends more
on
exports than it earns on imports, it needs to borrow to make up the
difference.

        The trade deficit is not exactly equal to borrowing from abroad
because
of the returns from net foreign assets.  When the US was a creditor nation, it
also made money on its investments abroad--this income permitted a modest
trade
deficit without borrowing.  Now, as a debtor nation, a modest trade surplus is
required to avoid the need for new borrowing.  (We are also ignoring
government
buying and selling of currencies.)  The Current Account Surplus = Exports -
Imports + interest and profits received from net foreign assets.

        Exchange rates:  An exchange rate is the price of one currency in
terms
of another.  For example, a French Franc (FF) costs 15.7? yesterday, while it
was 10? when I traveled in France in 1985.

        The US currently has floating exchange rates, meaning that the value
of
the dollar fluctuates.  The is about 105.8 yen today, but has varied from
103.76 to 124.44 in the last 12 months.  Thus, the dollar bought fewer yenit
weakenedover much of the last year.

        Under fixed exchange rates there would, in principle, be no day-to-day
changes in the exchange rate.  The Federal Reserve would buy and sell dollars
and foreign currencies to keep the exchange rate fixed.  The float is a little
bit "dirty," since the Fed and other central banks intervene on currency
markets (i.e., buy and sell dollars) to affect the value of the dollar.

        Unlike the U.S., most nations in the world fix their exchange rates
with
someone.  A few dozen use common currencies: the West African Franc is used by
many former French colonies and Panama uses the $U.S.  Other countries such as
Argentine or Hong Kong promise to keep as many U.S. dollars (or DM) as they
have circulating currency; this "currency board" arrangement makes a fixed
exchange rate credible because if folks want to sell the local currency, there
are always dollars or DM to redeem them.

        The value of the dollar: Many factors affect the value of the
dollar: US
and foreign aggregate demand, U.S. and foreign interest rates, speculative
bubbles, and so forth.  The dollar becomes stronger (i.e., can buy more of a
foreign currency) when US real interest rates (r) are high.  If r is high,
then
foreigners want to buy dollars in order to put them into US banks and receive
the high interest rate.  When the demand for dollars goes up, so does its
price
in terms of foreign currencies -- it gets stronger.

The net demand for dollars is low and the dollar will depreciate (weaken)
when:

     *  Foreigners don't want to buy U.S. goods (U.S. exports low, foreigners
importing little);

     *   US want to buy foreign goods (U.S. imports high, foreigners
exporting a
lot).  US AD high implies leakage to foreign markets, IM high.

     *  Foreigners don't want to buy U.S. assets, often when U.S. interest
rates
are low.

     *  U.S. wants to buy foreign assets, often when foreign real interest
rates
are high.

     *  People think $ will get even weaker.  This adds a speculative
dimension,
so speculative bubbles sometimes appear to be important, as are expectations
of
foreign or US changes in policy.
David Levine    Macroeconomics
November 18, 1999

        A Morality Play of International Trade

Chris and Pat were having a conversation one day upstairs at Kip's.

Chris: Pat, I don't see how you can be for free trade.  If Taiwan grows faster
than us, we will lose.

Pat: Chris, you clearly do not understand the great economist Ricardo's idea
of
Comparative Advantage.

C: That's for sure, I don't.  Wazzat?

P: Comparative advantage is what you are least worst, or most best at.  For
example, this great entrepreneur whose name escapes me was the world's fastest
typist, but hired a secretary nevertheless.  He was perhaps 5 times as
productive as she was as an entrepreneur, but only 3 times as productive as a
typist--thus, he had absolute advantage in both, but she had comparative
advantage in typing.

C: So what does that have to do with free trade?

P: An example may clarify.  Step over to this handy blackboard, and let me
write a bit.  First, imagine a world with two countries, the US and Taiwan,
and
two goods, computers and wine.  Further, assume that labor is the only input
into production.  Each country has 100 hours of labor.

First consider a case with no trade, when each nation's output equals their
consumption:

                        USA WITH NO TRADE

        Product                 Productivity            Output

        computers               30 hrs / PC              2
        wine                    2 hrs / bottle          20

          total hours = 30 * 2 + 2 * 20 = 100

                  TAIWAN WITH NO TRADE

        Product              Productivity               Output

        computers               10 hrs / PC              8
        wine                    1 hrs / bottle          20

          total hours = 10 * 8 + 1 * 20 = 100

Note that Taiwan makes computers in 1/3 the US time, and wine in 1/2 the US
time.  Thus, Taiwan has absolute advantage at both wine and computers.  Taiwan
has comparative advantage (is most best at) computers.  US has comparative
advantage (is least worse at) wine.

Now let's see what happens if we permit trade.  The US will specialize in
wine,
what it is best at.  The world price will be about 12 bottles of wine per PC
in
the world with trade.

                     USA WITH TRADE

        Product         Productivity            Output    Consumption

        computers               30 hrs / PC              0        2
        wine                    2 hrs / bottle          50        26
        wine                    2 hrs / bottle          50        26

          total hours = 0 * 30 + 2 * 50 = 100
          consumption of wine = production - 24 sold to Taiwan
          consumption of computers = 2 bought from Taiwan

                   TAIWAN WITH TRADE

        Product         Productivity            Output    Consumption

        computers       10 hrs / PC             10          8
        wine            1 hrs / bottle           0         24

          total hours = 10 * 10 + 0 * 1 = 100

Both countries receive at least as much of both goods after trade.  (The exact
price with free trade, and therefore the amount of consumption in each
country,
depends on the demand elasticities in the two countries and other factors.)
Thus, in a world of comparative advantage, trade helps both countries!
Nations
should specialize in what they do best.  Complete specialization, as in this
example, is an extreme case. As Adam Smith pointed out 200 years ago,
specialization permits all to grow wealthier.

C: Your argument assumes quite a bit.  Implicit in your example is the
assumption that when the US quits producing computers, all of those Cory-hall
types be magically transformed into Vit & Eno majors from Davis.  If we are in
a recession, then the computer workers who lose their jobs won't get new jobs;
policies to protect our domestic industry can avoid unemployment and increase
aggregate demand.

P: You are recommending "beggar-thy-neighbor" policies, since any gain in our
demand is offset by losses to our neighbors'.  If we get started on that tack,
the whole world loses.  Not everyone can increase demand by restricting
imports!

C: Even without the macroeconomic problem, there is still the unemployment
caused by free trade destroying industries.  How will all the ex-computer folk
get the skills to make wine?

P: You are correct, and both US computer makers and Taiwanese wine makers
(both
companies and employees) prefer not to have trade in the short run.  The point
is that the winners (i.e., US wine makers, Taiwanese computer makers, and
consumers in both countries) win more than the losers lose.

C: If free trade brings so many benefits, then it should bring enough
prosperity to compensate the losers.  It is not fair to the computer workers
that they bear the cost of adjustment.  It makes sense to tax some of the
winners, and pay some subsidy to help the losers retrain.

Full employment is not your only key assumption.  You also assume that markets
are competitive, so that firms make no monopoly profits.  In fact, it appears
that some industries make big profits.  When we lose market share in these
industries, the capital flows to a less profitable industry.

P: Again, I must grant your point that there are monopolistic industries and
most Americans would rather the monopoly profits stay at home.  In general,
free trade eliminates monopoly profits, and will help consumers enormously.

C: Yes, but in addition to there being high-profit industries, there are
high-wage industries, so workers care which industry they are in.  When we
lose
market share in these industries, the workers move to industries with lower
pay
and lower productivity.  Autoworkers who become hamburger flippers are not
making a marginal switch to their next best-paying job.

For example, Boeing has traditionally made big profits, and paid its workers
well.  When Europeans subsidized Airbus and we lost airplane manufacturing
jobs, we lost both those high profits, and the workers had to move to
lower-wage employers.

P: I agree that it is theoretically possible for subsidies to increase a
nation's welfare, if the subsidies bring oligopoly profits and high-wage jobs.
Nevertheless, it would be better for everyone if nobody subsidized, and
markets
were more competitive.  In the US today, both imports and exports are mostly
made in high-wage jobs.  Thus, we should favor the expansion of trade, not
restrictions.

C: Your hypothetical situation is irrelevant, since other nations are
subsidizing.  Japan is famous for protecting its industries until they become
big enough to compete internationally--then, watch out!

P: Do you really think that the US steel, auto and computer industries are too
small to compete internationally?

C: Well, I have to admit that USX, GM and IBM are not what one usually thinks
of as part of infant industries.  But the Japanese also subsidize industries
and dump exports below cost in order to drive competitors out of business.
Once they have a monopoly, then they really gouge.

P: Have the Japanese really increased prices of color TVs, RAM chips, or other
goods?  Anti-dumping laws primarily mean that foreigners are not allowed to
cut
prices--price cuts that would benefit US consumers.

Even with an uneven playing field, I disagree with you.  As usual with
protectionists, you ignore consumers.  When European subsidies created Airbus,
Airbus made the market for passenger aircraft much more competitive.  US
consumers won in terms of lower airfares--something you forgot to stress in
your arguments about Boeing's loss of high profits and high-wage jobs.

I am very suspicious of these claims that we need to protect all sorts of
industries, since it gives companies enormous incentives to pour money into
lobbying.  The large firms of the US steel industry have been incredibly
successful at lobbying for protection.  This protection has mostly protected
an
inefficient oligopoly, at great cost to US consumers.

C: But we sometimes need protection as a stick, to beat foreigners into
opening
their markets to us.

P: While protection can be a stick, it is not easy to wield.  It seems most
likely to lead to a trade war, where retaliation by foreigners leads them to
close markets to us if we restrict trade.

Usually when we run protectionism, it is in the form of the misnamed
"voluntary" export restraint (VER), like the one that we have with the
Japanese
for automobiles.  These basically require the foreigners to form a cartel,
lower sales, and increase price.  I do not know why the US government helps
foreigners run cartels that hurt US consumers!  Anti-trust policy is supposed
to restrict cartels.  The auto VERs cost consumers over $100,000 for each
US job
that is saved.

C:  Well, I am not convinced.  All of your arguments concerning the advantages
of free trade are based on this notion of comparative advantage, which you
assume is somehow granted by nature.  In today's high-tech industries,
comparative advantage is won by experience in producing complicated
technologies, not by weather or natural resources.

P: If comparative advantage is won by experience, then experience in producing
becomes a sort of investment.  Why can't US firms undertake investments that
are profitable?  You cannot seriously believe that IBM is too small to compete
with foreigners.

C: But there are spillovers from one industry to another.  The experience of
Silicon Valley, for example, shows that when one part of high-tech does well,
other parts learn from it and do well also.

Even your economists have always agreed that when there are positive
externalities that there is a role for public subsidies.  For example, an
innovating firm rarely captures all the gains of its research and development.
In the example above, when new computer technologies are developed, only the
Taiwanese will be able to develop the new products based on their expertise in
PC manufacture.

P: I agree that companies providing positive spillovers should be encouraged.
I think that support of university research, coupled with an R&D tax credit
makes more sense than protectionism.

You, on the other hand, seem to be promoting an "industrial policy," in which
the government picks winners to promote.  Didn't the billions of dollars that
France and Britain poured into the Concorde supersonic transport, as well as
wastage of the US with Synfuels synthetic gasoline teach you that industrial
policy won't work?

C: Well aren't you self-righteous.  The US has always had a multitude of
vigorous and expensive industrial policies, they have just gone under a
variety
of other names and have never been coordinated to work together.  Agriculture
receives billions in subsidies, steel and textiles have quotas on imports,
Lockheed and Chrysler received government-backed loans, and housing gets the
mortgage interest deduction.  Perhaps most importantly, a vast proportion of
our research is funded by the military, which has always looked to advantages
for certain industries.

All I want is a rational and democratic industrial policy.  We should
coordinate
our goals, and choose our subsidies more democratically and in ways that do
not
work to cross-purposes.  For example, any bailouts or protection from imports
should be short run, and explicitly tied to promises to invest in new
machinery
and new skills for workers.  New technologies to be promoted should be chosen
by democratically-chosen representatives, not by nameless bureaucrats at DARPA
(the Defense Advanced Projects Research Administration)--an agency almost
nobody has heard of.

P: I would just as soon cut subsidies to all those industries as adjust what
subsidies I give.  Nevertheless, I grant you that if subsidies are given they
should at least include promises from the industry and its workers to invest,
not just enjoy high current wages and profits.

C: You're starting to talk sense now.  We must always keep in mind that
America
needs high tech to maintain its competitiveness.

P: I don't understand this word "competitiveness."  I, like you, would like US
productivity to grow quickly so that we are more prosperous, and have more
resources to care for the disadvantaged, the environment, and so forth.  I
care
about the absolute level of US growth, not the relative level.

C: But if the US growth more slowly than Japan, we will lose our standing as a
world power!

P: I am not thrilled about any nation being overwhelmingly powerful.  It is ok
with me if the US must consult with its allies before invading various small
open economies.

C: Well, I have won enough points from you that I should probably stop.  You
agree that (at least in theory) protectionism can help keep high-profit,
high-wage, and high-spillover industries at home, and raise national output.

P: I must agree in theory, and also remind you that the industries have
political clout to receive protectionism are often the worst-run.
Furthermore,
any protectionist policy leads to the risk of trade wars, and they make
everyone
worse off.

C: Hey, that's enough economics talk.  Let's go have a beer--Anchor Steam, not
Beck's. - INTLHND99a.doc

David I. Levine                 Associate professor
Haas School of Business    ph: 510/642-1697
University of California    fax: 510/643-1420
Berkeley CA  94720-1900                            email:
levine@haas.berkeley.edu
http://web.haas.berkeley.edu/www/levine/


Kay - Here is the version that went to Dave and Tom Patrick.

Thanks,

Gregg


Attached is the detail for Park N Ride billing for October 2000. The summary
of charges is as follows:


January 24, 2002
Dear John Lavorato, Hunter Shively, Andy Lewis, and Chris Gaskill:

I regret to inform you that I will be resigning from the new Enron/UBS Warburg venture and will await further direction in the effort to fulfill my current obligations.  It is definitely with a bit of sadness that I have arrived at the conclusion to leave the new Enron/UBS Warburg venture, but I believe that it is in the best interest of my young career.  In addition, after signing a UBS offer letter I have realized over the last two days that given my current assignment it would be very difficult for me to continue to be motivated and to produce in the manner that would please both management and myself. Therefore I believe it is in the best interest of both parties that I leave the new Enron/UBS Warburg venture. Although this decision was not an easy one for me to make, I have decided to pursue other opportunities.
I am extremely grateful for the opportunities I have been given here in this organization and for the investments that both you as individuals and the organization as a whole have made in my personal career development.  I believe I have worked hard at Enron and I trust that I made significant value adding contributions. It is because of my experience here and the tutelage that all of you have given me that I have my current knowledge and opportunities. I am very grateful for all of my experiences here at Enron/UBS Warburg, and I would like to personally thank all of you guys upon your return from Connecticut.  I will also make a concerted effort to maintain contact with all of you.
UBS Warburg Energy will certainly be a successful organization and I wish you all the best of luck with the exciting challenge of rebuilding this great business.
I await your direction upon receiving my intention to resign, and I offer my services in order to make the process as smooth as possible.

Sincerely,
Denver Plachy


Attached please find the most recent guidelines for confirming swap
transactions with RMT.  Please distribute this memorandum to others involved
in the confirmation process, as appropriate, and feel free to call me at
X34718 if you have any questions or comments.

Regards.
Rhett Jackson


I have confirmed with Shane & Jurgen in London and William Stuart here in
Houston (Traders) that this FX Trade was done with Merrill Lynch
International Bank and NOT Merrill Lynch Capital Services Inc.. I have a call
in to Liz Fernandez with Merrill. I will follow up with Merrill's response.

Hope you are having a fabulous day!

Regards,

Jorge

From: Sara Shackleton@ECT on 10/25/2000 12:02 PM
To: Jorge A Garcia/NA/Enron@Enron
cc:

Subject: Merrill Lynch Investment Bank

Have you ever heard back from Liz Fernandez or Desiree Monroe?


Lindy, Tony and Sam:

Wishing you a happy "Turkey Day!"  We will be thinking about you and
wishing we could be together. I know it will be fun time for your
family.  I was looking at your weather and it looked cool for Houston.

We are going to Happy Hollow with Jodeen and her family and looking
forward to their good food.  We won't have leftovers but I don't have to
cook either so the trade off is pretty good.

Give Sam hugs and kisses from us.

Love and miss you!

Dad & Flo


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 $97 one-way, to/from Hartford, CT/Springfield, MA
 $89 one-way, to/from Houston Hobby, TX
 $99 one-way, to/from Manchester, NH
 $99 one-way, to/from Providence, RI
 $99 one-way, to/from West Palm Beach, FL

New Orleans, LA
 $78 one-way, to/from Baltimore Washington Int'l, MD
 $39 one-way, to/from Birmingham, AL

Norfolk, VA/Southern Virginia
 $70 one-way, to/from Albany, NY
 $39 one-way, to/from Baltimore Washington Int'l, MD
 $68 one-way, to/from Buffalo/Niagara Falls, NY
 $48 one-way, to/from Orlando, FL

Oakland, CA
 $46 one-way, to/from Burbank, CA
 $46 one-way, to/from Los Angeles, CA
 $55 one-way, to/from Portland, OR
 $39 one-way, to/from Reno/Tahoe, NV
 $59 one-way, to/from Seattle/Tacoma, WA
 $99 one-way, to/from Tucson, AZ

Oklahoma City, OK
 $91 one-way, to/from Amarillo, TX
 $85 one-way, to/from Midland/Odessa, TX

Omaha, NE
 $99 one-way, to/from Las Vegas, NV
 $39 one-way, to/from St. Louis, MO

Ontario, CA
 $39 one-way, to/from Phoenix, AZ
 $57 one-way, to/from Sacramento, CA

Orlando, FL
 $99 one-way, to/from Baltimore Washington Int'l, MD
 $48 one-way, to/from Norfolk, VA/Southern Virginia
 $39 one-way, to/from West Palm Beach, FL

Phoenix, AZ
 $39 one-way, to/from Albuquerque, NM
 $99 one-way, to/from Columbus, OH
 $39 one-way, to/from Las Vegas, NV
 $39 one-way, to/from Los Angeles, CA
 $99 one-way, to/from Louisville, KY
 $39 one-way, to/from Ontario, CA
 $99 one-way, to/from Raleigh-Durham, NC
 $92 one-way, to/from Reno/Tahoe, NV
 $97 one-way, to/from Sacramento, CA

Portland, OR
 $55 one-way, to/from Oakland, CA
 $88 one-way, to/from Salt Lake City, UT
 $54 one-way, to/from San Jose, CA

Providence, RI
 $34 one-way, to/from Long Island/Islip, NY
 $99 one-way, to/from Nashville, TN

Raleigh-Durham, NC
 $78 one-way, to/from Chicago Midway, IL
 $99 one-way, to/from Las Vegas, NV
 $99 one-way, to/from Los Angeles, CA
 $99 one-way, to/from Phoenix, AZ
 $99 one-way, to/from San Antonio, TX

Reno/Tahoe, NV
 $39 one-way, to/from Oakland, CA
 $92 one-way, to/from Phoenix, AZ
 $56 one-way, to/from Salt Lake City, UT
 $39 one-way, to/from San Jose, CA
 $72 one-way, to/from Seattle/Tacoma, WA

Sacramento, CA
 $57 one-way, to/from Ontario, CA
 $97 one-way, to/from Phoenix, AZ
 $84 one-way, to/from Seattle/Tacoma, WA

Salt Lake City, UT
 $39 one-way, to/from Boise, ID
 $88 one-way, to/from Portland, OR
 $56 one-way, to/from Reno/Tahoe, NV

San Antonio, TX
 $59 one-way, to/from Corpus Christi, TX
 $86 one-way, to/from Midland/Odessa, TX
 $99 one-way, to/from Raleigh-Durham, NC

San Diego, CA
 $99 one-way, to/from El Paso, TX
 $39 one-way, to/from Las Vegas, NV
 $53 one-way, to/from San Jose, CA

San Jose, CA
 $57 one-way, to/from Burbank, CA
 $99 one-way, to/from El Paso, TX
 $45 one-way, to/from Los Angeles, CA
 $54 one-way, to/from Portland, OR
 $39 one-way, to/from Reno/Tahoe, NV
 $53 one-way, to/from San Diego, CA
 $99 one-way, to/from Tucson, AZ

Seattle/Tacoma, WA
 $39 one-way, to/from Boise, ID
 $99 one-way, to/from Chicago Midway, IL*
 $59 one-way, to/from Oakland, CA
 $72 one-way, to/from Reno/Tahoe, NV
 $84 one-way, to/from Sacramento, CA
 $39 one-way, to/from Spokane, WA

 *New non-stop service to/from Chicago Midway, IL
  begins March 10, 2002.

Spokane, WA
 $39 one-way, to/from Boise, ID
 $39 one-way, to/from Seattle/Tacoma, WA

St. Louis, MO
 $44 one-way, to/from Chicago Midway, IL
 $66 one-way, to/from Cleveland, OH
 $54 one-way, to/from Columbus, OH
 $51 one-way, to/from Detroit, MI
 $39 one-way, to/from Louisville, KY
 $39 one-way, to/from Omaha, NE
 $54 one-way, to/from Tulsa, OK

Tampa Bay, FL
 $99 one-way, to/from Austin, TX
 $39 one-way, to/from Jacksonville, FL
 $39 one-way, to/from West Palm Beach, FL

Tucson, AZ
 $39 one-way, to/from Albuquerque, NM
 $99 one-way, to/from Oakland, CA
 $99 one-way, to/from San Jose, CA

Tulsa, OK
 $99 one-way, to/from Los Angeles, CA
 $54 one-way, to/from St. Louis, MO

West Palm Beach, FL
 $99 one-way, to/from Nashville, TN
 $39 one-way, to/from Orlando, FL
 $39 one-way, to/from Tampa Bay, FL

For complete information, please visit:
http://www.southwest.com/jp/hotfares2.shtml?src=e022602

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*Fares do not include airport-assessed passenger facility
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 Security Fee of up to $5 one-way.
*Fares are nonrefundable, but (except for tickets
 purchased through our Group Tickets Program)
 may be applied toward future travel on Southwest Airlines.
*Travel March 5, 2002 through August 3, 2002, except May 24
 and 27, and July 7, 2002.
*Purchase through February 28, 2002,  midnight Pacific Time.
*Fares are available one-way or can be combined
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 not included in this sale.

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You are currently subscribed to special-offers as: dperlin@enron.com
You can unsubscribe anytime at http://www.southwest.com/email/


1. Is the Marketing selling this point as Primary?
2. Shippers would need to adjust their Primary points around on their contracts. If Allocating West of Thoreau.
3. It might encourage LFT if West of Thoreau capacity not full.
4. It might encourage more Back Hauls from various points in the West of Thorea Area.
5. Could we sell Primary to Primary if Receipted West of Thoreau?

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Monday, March 04, 2002 9:22 AM
To:	Kowalke, Terry; Corman, Shelley; Betancourt, Ramona
Subject:	FW: Draft - SoCal/Topock Announcement

I'm asking Ramona a question - it would probably be good if I had her on the address list =)

Also, Terry & Shelley - any comments?  We were discussing this in a meeting Friday afternoon and after I incorporate all of our comments, we're going to run it past SoCal as well.  This change is pursuant to a conversation Steve had with Ladd Lorenz last week.

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Friday, March 01, 2002 3:16 PM
To:	Watson, Kimberly; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; Y'barbo, Paul; Kilmer III, Robert; Harris, Steven
Subject:	Draft - SoCal/Topock Announcement

Here's a simple first draft.  I didn't know how much detail we should get into.

Ramona, am I using the correct terminology?  They are not going to confirm in Cycle 1.  They are just going to let us fill-in where El Paso filled-up all the capacity downstream.

 << File: SoCal-TopockScheduling.doc >>

Let me know your comments.

Thanks!


-----Original Message-----
From: 	Frazier, Michael
Sent:	Tuesday, January 22, 2002 10:20 AM
To:	Bishop, Serena; Coffing, Timothy; Davis, Pete; EES Power Settlements,; Foster, Chris H.; Jackson, Jeffrey; Mallory, Chris; Platter, Phillip; Richter, Jeff; Oh, John
Subject:	EES CA SCHEDULE for 1/23/02 (REV) and 1/24/02
Importance:	High

The attached schedule covers Wednesday and Thursday, Jan 23-24.  The schedule sent Friday for Wednesday, Jan 23 has been updated to incorporate a new weather forecast of 1-22, as communicated via my earlier email.  Associated text files for both days will be posted to Sparky as usual.

Michael R. Frazier
Manager
Load Forecasting Desk
Enron Energy Services
Office: 713-345-3200
Pager: 877-926-0615
P-mail: 8779260615@skytel.com


---------------------- Forwarded by Darron C Giron/HOU/ECT on 12/01/2000
09:23 AM ---------------------------

Mark.Ebert@broadwing.com on 12/01/2000 07:29:01 AM
To: dgiron@ect.enron.com, david.long@tdhca.state.tx.us,
keykeith@mindspring.com, george.ewton@unisys.com,
heather.hodnett@tdhca.state.tx.us, bjnelson81@uswest.net, kelang@mmm.com,
keith.doran@tdhca.state.tx.us, psalas@flash.net, SPSMITHCPA@aol.com,
swash@tdhca.state.tx.us
cc:
Subject: FW: ha ha ha!

> !
>
>  <<ha ha ha!>>

Message-ID: <v04220807b64aeaf089d7@[128.83.49.136]>
From: eyhastings@mail.utexas.edu
To: johuber@mail.utexas.edu, m.lehman@mail.utexas.edu,
declerck@mail.utexas.edu, cdison@mail.utexas.edu,
lsanmiguel@mail.utexas.edu, janice.martinez@tasb.org
Subject: ha ha ha!
Date: Wed, 29 Nov 2000 11:20:14 -0600
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
Content-Type: text/plain

My niece sent this today...got a good laugh from it!

Liz

A lady stopped unexpectedly by her recently married son's house.  She rang
the doorbell and stepped into the house to see her daughter-in-law standing
naked by the door.
"What are you doing?" she asked.
"I am waiting for my husband to come home from work," the daughter-in-law
replied.
"Why are you naked?" asked the mother-in-law.
"This is my love dress," the daughter-in-law replied.
"LOVE DRESS! You're naked," said the mother-in-law.
"But my husband loves it when I wear this dress. It makes him happy and he
makes me happy," said the  daughter-in-law "He will be home any minute now,
so perhaps you could stop by a little later?"
Soured by all of this romantic stuff, the mother-in-law left.
On the way home, she thought about the "LOVE DRESS" and got an idea. She
undressed, showered, applied her best perfume, and waited by the door for
her husband to come home.
Finally, his pickup truck drove up the drive way. Her husband opened the
door, and immediately saw his naked wife.
"What are you doing?" he asked.
"This is my love dress." She said, excitedly.
"Needs ironing." He replied.
*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*

Elizabeth Y. Hastings
Academic Advisor
Department of Spanish and Portuguese, ( BAT 110 -- B3700)
Advising Office  BATTS 218
The University of Texas at Austin
Austin, TX 78712-1155

Advising Office:  (512) 232-4506
Departmental Office: (512) 471-4936
Office Fax: (512) 471-8073

eyhastings@mail.utexas.edu

departmental web site:  http://www.sp.utexas.edu/


If you are seeing this message, your email client does not support HTML.  Please copy and paste this url into your browser to set your email client type to the correct setting with our system so that you can see future content in the best possible format.

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HOUSTON PIPE LINE COMPANY,S 75TH ANNIVERSARY
MOODY GARDENS HOTEL
GALVESTON, TEXAS
September 9, 2000

FREQUENTLY ASKED QUESTIONS

Houston Pipe Line Company,s 75th Anniversary celebration is right around the
corner.  To help you plan for the event, we,ve developed a list of questions
and answers. Look for future updates via email and if you have a question,
please send it to meetingstop@aol.com.

? How do Houston Pipe Line employees RSVP for the anniversary celebration?
Register via email  -- the sooner the better! You provide minimal information
via email to our event coordinator on the form you,ve received with this
email.  NOTE: Registration ends August 15.

? Can I bring my children for a family weekend outing?
The celebration is for Houston Pipe Line employees and a guest.

? What are check-in and checkout times at the hotel?
Check-in at Moody Gardens Hotel is 4 pm Saturday and checkout is at noon
Sunday. Although early room check-in is unlikely on Saturday, employees may
arrive early and check their luggage in the hotel lobby to enjoy the Moody
Gardens attractions. Rooms will be assigned as they become available
throughout Saturday. We,ll give you specifics on the check-in process in
future updates.

? Can I reserve a room for Friday, September 8?  What is the room rate?
A limited number of rooms may be available on Friday night for $129.00
(single or double).  Houston Pipe Line employees should contact the hotel
directly to make Friday reservations. The phone number for Moody Gardens
Hotel is 888/388-8484 or 409/781-8484.

? Should I use my personal credit card for incidental expenses?
Yes, you should use your personal credit card for incidental expenses, such
as long distance phone calls.  Just present your credit card at check-in.

? What is the dress code for the weekend?
Cocktail attire is appropriate for the anniversary celebration.  Black tie is
optional!  Comfy relaxed attire is mandatory for enjoying Moody Garden
attractions.

? Can I include the mileage to Galveston on my expense report?
Travel to and from Moody Gardens Hotel is not eligible for expense
reimbursement.

? Which meals are included during my hotel stay?
The celebration includes Saturday night cocktails and dinner.
Houston Pipe Line employees will receive two drink tickets each for the
cocktail hour or at dinner. Cash bars will be available during the
celebration.

? What time is the official company celebration over?
Employees and guests are on their own and free to enjoy Galveston after
dinner Saturday night and on Sunday.  As a reminder, checkout time is at noon
on Sunday.

? What are +Garden Dollars8 and do I have access to all Moody Gardens
attractions?
Houston Pipe Line employees and guests will each receive +garden money,
valued at $35.00. +Garden money, can be used throughout the complex to enjoy
attractions or for a spa service.

? Doesn,t Moody Gardens have an incredible spa?
Yes, employees should contact The Spa at Moody Gardens Hotel to schedule
appointments for all spa services.  The Spa offers a variety of services
including massages, body wraps and treatments, hydrotherapy baths and
facials. Call The Spa at 888/388-8484 or 409/683-4440 to schedule an
appointment.

? Does the hotel have a designated parking area?
Hotel guests may enjoy covered parking located at the entrance to the
complex, behind the hotel. Note a posted sign at the parking garage entrance
reads "Valet Only", but hotel guests are free to use the garage.

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

EMPLOYEE CELEBRATION
 REGISTRATION

Plan to attend?
Enjoy easy, speedy registration?
Send information requested below to meetingstop@aol.com.
Expect registration confirmation via email.
Register early!  Register now!

1) Employee,s Name

2) Employee,s Daytime Phone Number

3) Guest,s Name

4) Overnight Accommodations  (select one of each category)
 ? King Bed or Two Queen Beds
 ? Smoking or Non-Smoking room

5) Dinner Only?  Yes / No

6) Do you want +Garden Dollars, for Moody Gardens Hotel or Attractions?   Yes
/ No


is out of the office until tomorrow afternoon.  ss


I am still in need of the information regarding Global Markets Plan.  (See
prior E-mail)

  If you are in one of the following groups, could you please respond with
your breakdown as soon as possible:

Logistics (2 Cost centers needed)
Settlements and Confirmations (3 cost centers needed)
Risk Management and Controls (3 cost centers needed)
Energy Operations management (1 cost center needed)

Thanks so much.

Please call if you have any questions.

Holly
3-5843

---------------------- Forwarded by Holly Heath/Corp/Enron on 11/07/2000
01:59 PM ---------------------------

Holly Heath
11/02/2000 04:25 PM
To: Robert Superty/HOU/ECT@ECT, Diane H Cook/HOU/ECT@ECT, Heather
Choate/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron, Vanessa Kyama/NA/Enron@Enron,
Bob M Hall/NA/Enron@Enron, Sheri Thomas/HOU/ECT@ECT, Lola
Willis/Corp/Enron@ENRON, Mary Solmonson/HOU/ECT@ECT, Marvia
Jefferson/HOU/ECT@ECT, Julissa Marron/Corp/Enron@ENRON, Sally
Beck/HOU/ECT@ECT, Patti Thompson/HOU/ECT@ECT
cc:

Subject: Plan 2001 - Global Markets

Attached is a file containing all cost centers that are allocating to Global
Markets in the year 2001.  Could I please get from you a breakdown of every
team affected by Global markets.  Please explain all percentages listed in
column "A", by breaking apart into columns B - J.  Please feel free to call
with any questions you may have.  Thanks so much for your help.

Please submit this explanation by tomorrow afternoon.

Thanks again for your help.

Holly
3-5843


After three and a half years as CFO Enron Europe, Paul Chivers has decided to
move on from the Global Finance Group and is considering commercial
assignments within Enron both here in Europe and in Houston. Paul has made a
significant contribution to Enron's European business in building a team that
consistently delivers financing for our transactions. We wish him every
success in the future.

Effective immediately, Anne Edgley will assume the position of CFO Europe.
Please join us in welcoming her to this new role.

John Sherriff, Michael Brown and Ben Glisan


I spoke with the person who confirms PG&E on our side, and she said that
Brian agrees with our(TUFCO and ENA) numbers for March.

Also,
For Days 1-5, you've taken:

IFERC  160,000

Enron 110,625

GD 0

Agree?

Ami


Great - So far it is me, you, Wade Jones, and John Chandler. Look
forward to seeing you Friday.

Thanks, Johnny

-----Original Message-----
From: Neal, Scott [mailto:Scott.Neal@ENRON.com]
Sent: Wednesday, January 09, 2002 3:28 PM
To: jbyrd@byrdinterior.com
Subject: RE: Golf Friday 12:52

I would like to play.

>  -----Original Message-----
> From: 	"j byrd" <jbyrd@byrdinterior.com>@ENRON
> Sent:	Wednesday, January 09, 2002 2:06 PM
> To:	andrewd@tex-trude.com; Bobby Mulvey; dale_griffin@aimfunds.com;
jmcandre@mony.com; Chandler John; Rod Wiggins; scarter@evsi.net; Neal,
Scott; scott.uptegraph@painewebber.com; troyutz@attglobal.net;
wjones@texonlp.com
> Subject:	Golf Friday 12:52
>
>
> I have a tee time at LCC for this Friday afternoon at 12:52. The first
four guys to respond are in wolf.
>
>
> Call me with questions.
>
> Johnny Byrd
> 713-688-8850

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


We will take this variance to the desk then.
PL

	From:  Cathy Sprowls                           02/16/2001 01:31 PM

To: Phillip M Love/HOU/ECT@ECT
cc:
Subject: Re: Latest summary schedules

Ok, Phillip, here's the story I was given by Jim Little, you tell me if it
makes sense.  In January this liquidation was out of the intra-month book.
Sometime betwen January and August, the liquidation was changed to the
FTbook and we don't liquidate out of the FT book, so the expected offset
didn't happen.

---------------------- Forwarded by Cathy Sprowls/HOU/ECT on 02/16/2001 01:29
PM ---------------------------

Phillip M Love
02/16/2001 01:10 PM
To: Cathy Sprowls/HOU/ECT@ECT
cc:
Subject: Re: Latest summary schedules

I am curious why N70012.Q is a variance in 0001 and N70012.R is not a
variance in 0008.  If you look in the two fred files, 0001 has the liq
flashed and not in the GL, and in 0008 the liquidation is in flash and the
GL.  The counterparties in both are the same.  Jim needs to revise 0001
file.  Shout with any questions.  Thanks.
PL


ole0.bmp

<http://www.unitedway.org/local.cfm?id=46377&zip=77002>

EWS has been asked to sponsor the Center for the Retarded, for this year's Days of Caring.  We need your help to make this effort a success.

What are the Days of Caring?

United Way Days of Caring began in 1992 with 800 volunteers from area corporations.  The Days of Caring for the year 2000 grew to over 7,000 participants from the Houston area.  During the annual Days of Caring, volunteers put their caring into action by working at agency locations.  Donors are able to see for themselves the work done by the agencies, meet those who are served and learn more about how their investment in the United Way impacts our community.

What agency are we sponsoring?

The Center - Serving Persons with Mental Retardation

 Serving Bay Area and Fort Bend, Harris, Montgomery and Waller Counties
 Provides opportunities for persons with mental retardation to maximize their potential for independence.
 Services include: adult activity centers, education, community living options, employment and health services.
 For more information, visit the website at: www.cri-usa.org <http://www.cri-usa.org>

How long will I be away from the office?

You have 2 shifts to choose from.  We will provide your transportation to and from the location.  The morning shift will start at 8:15 a.m., Friday August 10th, with a kick-off from the Office of the Chair.  The bus will then leave at 8:30 a.m. and will drop you in front of The Center.    The bus will return you to Enron by 11:30 a.m. where you can grab your complimentary sack lunch from Chick-Fil-a.

The Body Shop has been generous enough to let us use its shower facility for anyone who chooses an outdoor activity.

What will I need to do?

You have the option to sign up for a variety of activities.  These activities include Landscaping, Heavy Cleaning, Light Construction, Painting, Arts & Crafts, Playing Bingo, and Hosting a Party (providing baked goods, punch, and snacks).

Will I need to bring any equipment / supplies?

Depending on the activity you choose, you may be asked to provide equipment / supplies.  The necessity for supplies may range from construction paper and scissors to rakes, brooms, and gloves.  Your Business Unit representative will follow-up with more details.

Contest Information -

For everyone in EWS who participates in the Days of Caring, your name will be entered into a drawing  to win 1 of 5 American Express Gift Certificates.

As I stated earlier, WE NEED YOU TO MAKE THIS EVENT A SUCCESS.

How do I volunteer?

Please contact - { <http://cr.enron.com/cr-cgi-bin/view_volops.pl>} or

Contact your EWS Days of Caring Committee Members -

Cheryl Lindeman      5-2849                 Tom Myers    3-0475             Tammie Schoppe    3-4220            Marcus Edmonds    3-4243

Marilyn Oliver           5-6122                  Philip Conn   5-8181             Julie Clyatt             3-3256

Thank you,

EWS Days of Caring Committee


Start Date: 1/3/02; HourAhead hour: 11;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010311.txt


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/19/2001
05:21 PM ---------------------------

Kathy Spradling <spradlin@rice.edu> on 01/17/2001 10:20:05 AM
To: (Recipient list suppressed)
cc: cmiller@rice.edu, castro@rice.edu, spradlin@rice.edu
Subject: Jones Graduate School Course Descriptions List for 2000 - 2001

Spring 2001 Faculty and Students,

Jones Graduate School Course Descriptions List for 2000 - 2001 has been
posted to EMBANET.  To access the course descriptions please open the JGSM
Area icon on the EMBANET desktop.  Next please open the Announcement JGSM
icon.  You will find the course descriptions located under the Subject
column.  Please open the document.  If you do not have access to EMBANET
you will need to speak with David Kilgore at kilgore@rice.edu or by calling
David at 713-348-5378.

Thanks,
Kathy

Kathy M. Spradling
MBA Program Coordinator
Jesse H. Jones Graduate School of Management
Rice University
6100 Main Street, MS 531
Houston, Texas  77005-1892
Phone:  (713) 348-3313
Fax:  (713) 348-5251
Email:  spradlin@rice.edu
http://www.rice.edu/jgs
E-mail:  spradlin@rice.edu
http://www.ruf.rice.edu/~jgs/


Danilo,

His name is SP and the phone # (770) 673 6665


For the 10:00 meeting

---------------------- Forwarded by Steve Gilbert/ET&S/Enron on 02/13/2001 09:07 AM ---------------------------

Steve Gilbert
02/09/2001 11:30 AM
To:	Tracy Geaccone/GPGFIN/Enron@ENRON, James Saunders/FGT/Enron@ENRON, Dan Fancler/ET&S/Enron@ENRON
cc:	Dave Neubauer/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON

Subject:	Update Tenaska Swaps Info. (Does not include March)

Please plan to attend a meeting on Tuesday, February 13th at 10:00 a. m. in 49c2 (video) to discus the TW/NNG/Tenaska transaction.  Attached are the worksheets that are applicable.

---------------------- Forwarded by Steve Gilbert/ET&S/Enron on 02/09/2001 11:14 AM ---------------------------

Dave Neubauer
02/05/2001 02:40 PM
To:	Steve M Harrison/ETOL/EU/Enron@ENRON, Steve Gilbert/ET&S/Enron@ENRON, Larry Pavlou/ET&S/Enron@ENRON
cc:

Subject:	Update Tenaska Swaps Info. (Does not include March)


Attached please find the file with the revisions for WestPower.  Commercial headcount was reduced from 64 to 52.  The correct list for West Power fundies and structuring is included in the "West Power" tab along with the traders, originators,etc.

Additional comments on the attached:

Grace Rodriguez was listed as West Power commercial admin; she should be HR admin.
Terry Donovan was listed in both West Power and East Power; he has been deleted from West Power.
Dale Furrow was listed in both East Power and West Power; he has been deleted from West Power.
Dave Fuller is listed in Gas Structuring; he is a manager in West Gas Orig.

There are two contract employees in the West which are not included on the list but are important people going forward:
- Sonny Seaton, West Power Fundies
- Mike Tully, West IT Support, reporting to Dave Steiner

Also, in East Power, Ben Jacoby and Fred Mitro are listed; however they believe that they are in workoutco (they don't expect to be part of Netco)

Chris Calger
503-464-3735


I corrected the 1 mw buy re-sale.  I don't, however, find the 35 mw peak deal.  I have looked at our trade sheet and the faxes to you and I don't recognize the deal.  Can you give me a tag perhaps?

thanks,

diana


Michael,

Thanks for the information. We shall have the
results for you by tomorrow morning.

Vince

	Michael Anderson @ AZURIX
	08/23/2000 07:48 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc: keith.harris@wessexwater.com
Subject: UK RAB Multiples

I talked with Keith Harris, our CFO at Wessex, about the RAB multiple graph I
gave you.  He expressed that the Wessex people had originated the data and
that the graph was correct, to the best of their knowledge.  The only (but
very important correction) is that they started the graph at an index of
100%, which does not imply a 100% of RAB multiple.  Rather, the initial RAB
multiple was around 80%, implying that the entire line should be taken down
by 20 percentile points.  Thus the all time hime in late 98 should be closer
to the 1.3x RAB that I had targeted during our discussion.  Please call Keith
if he has not yet contact you.


Thanks Vince.  It was good to learn of your promotion as well.

Cheers.


Attached please find an initial draft of the Put Option Confirmation.

 <<Put Option Confirmation.DOC>>

> Alicia L. Curry
> Vinson & Elkins L.L.P.
> 2300 First City Tower
> 1001 Fannin Street
> Houston, Texas 77002-6760
> Phone:  713-758-4428
> Fax:  713-615-5688
> (Licensed in New York only)
>
>
>
>
> +++++++++++++++++++++++
> CONFIDENTIALITY NOTICE
> +++++++++++++++++++++++
> The information in this email may be confidential and/or privileged. This
> email is intended to be reviewed by only the individual or organization
> named above. If you are not the intended recipient or an authorized
> representative of the intended recipient, you are hereby notified that any
> review, dissemination or copying of this email and its attachments, if
> any, or the information contained herein is prohibited. If you have
> received this email in error, please immediately notify the sender by
> return email and delete this email from your system. Thank You
>
PRIVILEGED AND CONFIDENTIAL:
Contains attorney-client communications and/or attorney work product.

 - Put Option Confirmation.DOC


Here is the link to the Redherring.com story done on EnronOnline.

http://www.redherring.com/industries/2000/0418/ind-enron041800.html

Meredith


Do you really look forward to working with him??????

You're the best!

Leslie

	Tana Jones
	10/26/2000 10:05 AM

		 To: Bruce Harris/NA/Enron@Enron
		 cc: Leslie Hansen/HOU/ECT@ECT
		 Subject: Re: NDA agreement

Per our conversation, my name is Tana Jones and I am a paralegal here in
Houston Legal.  I am your first point of contact when you need to get an NDA
out to a counterparty.  I work with Leslie Hansen, an attorney in our group.
She will negotiate any comments to the NDA's or review forms of NDA's
provided by counterparties.  We can also assist you with other types of
contracts you might need.  My # is x33399 and Leslie's is x36121.

To draft an NDA I will need the following information:

1.  What form of NDA do you want.  We have 2 forms, one where only Enron is
providing confidential information, and a bilateral agreement where both
parties are providing confidential information.  If we have a situation where
we truly are the only one providing confidential information we prefer to use
the one-way form, it is drafted much more in our favor.
2.  What is the project or nature of your business with the cusomer?
3.  The counterparty's full legal name.
4.  Counterparty's address.
5.  Contact name at the counterparty.
6.  How you would like the NDA sent to the counterparty.  If you would like
to to fax it, please provide the fax and phone number.  If you would like me
to email the agreement, I'll need an email address.  If you would like to
send it yourself, I will forward it to you.
7.  If you have a deadline for execution, please let us know.

I look forward to working with you!
----- Forwarded by Tana Jones/HOU/ECT on 10/26/2000 09:52 AM -----

	Michael Slade
	10/26/2000 09:42 AM

		 To: Bruce Harris/NA/Enron@ENRON
		 cc: Tana Jones/HOU/ECT@ECT
		 Subject: Re: NDA agreement

Hello Tana - please could you help Bruce out or point him in the right
direction - I just spoke with him and the agreement would need to be under
Texan law, so our standard form is not suitable.

Many thanks

Michael

Bruce Harris@ENRON
26/10/2000 15:39
To: Michael Slade/LON/ECT@ECT
cc: Bruce Harris/NA/Enron@Enron

Subject: NDA agreement

Michael,

I work in EnronCredit in Houston.  Adam Tyrell suggested I contact you about
getting a template non-disclosure agreement to send to a client (at their
request).  Could you please send me something today if we have a standard
form?

Thanks,  Bruce


Shelly,

These are the Super Saturdays I can help you with:

Nov 10
Dec 1
Dec 8
Dec 15

I shall be traveling on two other days. One of these trips is related to
recruiting at CMU.

Vince

Vince

	Enron North America Corp.

	From:  Shelly Jones, Recruiting Manager @ ENRON
10/24/2000 09:12 PM

Sent by: Enron Announcements@ENRON
To: ENA Employees
cc:
Subject: Associate/Analyst Super Saturday Participation - ADDITIONAL REQUEST

 ADDITIONAL INTERVIEWER PARTICIPATION IS REQUESTED FOR OCTOBER 28 & NOVEMBER
4.

Also, please note the school/date changes (in red).  This change was
necessary due to the number of candidates participating in Super Saturday.
If you have a change in your participation as a result of the date change,
please contact John Harrison, ext. 3-7811 for revisions.

Thank you
Shelly Jones

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

Enron Managing Directors, Vice Presidents, Directors, and Managers  Who
Utilize the Associate/Analyst Pool

As a follow up from a "SAVE THE DATE"  email regarding your participation in
the  Associate and Analyst  Super Saturday process, now is the time to select
your dates to attend and participate.

Below are the dates for Super Saturday weekends during the upcoming
recruiting season.  If you are Houston-based or if you know you will be in
Houston on business at the appropriate times please click the link below to
volunteer.

http://axis.enron.com/notice/ssinvite.asp
(When selecting dates please avoid selecting to interview candidates who
attend the schools for which you are a team member.)

Associates     Analysts
October 27-28, 2000    November 3-4
Thunderbird, UT, Georgetown, Rice  Rice, UT, Baylor, A&M, OU, Florida, LSU,
UHCL

November 10-11, 2000    November, 17-18, 2000
Columbia, Stern NYU, UCLA, Darden, Cornell Penn, UVA, Vanderbilt, Michigan,
Howard, AUC,
Vanderbilt, Michigan    UHMain and Clear Lake, LSU

December, 1-2, 2000    December 8-9, 20000
Chicago, Kellogg, Harvard, Wharton, MIT Wellesley, overflow and re-schedules
from previous s/s
-
Friday, December 15, 2000
Carnegie Mellon
Yale off-cycle candidates

Thank you for your support of the Associate and Analyst Programs.
Shelly Jones
Recruiting Manager


NO.  CALP is a wholesale contract.

Brenda H Fletcher
04/11/2000 09:09 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: CGAS contract 64231

Chris,
Do you invoice CES Retail for the monthly and volumetric demand paid by ENA
to CALP?

Chris Germany
04/10/2000 06:09 PM
To: Robin Barbe/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Joan
Veselack/Corp/Enron@ENRON, Joann Collins/Corp/Enron@ENRON, Robert
Allwein/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Mark Feldman/HOU/ECT@ECT
cc: Dan Junek/HOU/ECT@ECT
Subject: CGAS contract 64231

This is a good time to bring this up.  Unless the original CES agreement has
changed, ENA will pay CALP a monthly demand charge of $103,417 from 1/1/2000
- 4/30/2000.  From 6/1/2000 - 7/7/2000, ENA will pay a (volumetric) demand
charge of $.02/mmbtu to CALP for any volumes utilized by ENA.

Which brings up 2 important points;
 1.The month of May has not been addressed which means Robin needs to discuss
this with CALP (and she may have already)
     However, currently we will not be showing any demand estimates for May.

 2.  It's a new ball game starting 7/8/2000.

Comments/questions?

---------------------- Forwarded by Chris Germany/HOU/ECT on 04/10/2000 05:57
PM ---------------------------

Brenda H Fletcher
04/10/2000 04:37 PM
To: Chris Germany/HOU/ECT@ECT
cc: Scott Goodell/Corp/Enron@ENRON
Subject: CGAS contract 64231

This contract is on the ECT April spreadsheet under CES Wholesale.  What is
the relationship between ENA and Commonwealth Atlantic?
(Who pays transport invoice?  Any reimbursements?)

Thanks,
Brenda


fine

 -----Original Message-----
From: 	Terraso, Michael
Sent:	Wednesday, August 29, 2001 7:08 AM
To:	Kean, Steven J.; Kaminski, Vince J
Subject:	RE: Speaker from Enron

Steve, I was planning to piggyback this onto a trip to Washington in November and make the presentation myself.  Mike

 -----Original Message-----
From: 	Kean, Steven J.
Sent:	Wednesday, August 29, 2001 6:52 AM
To:	Kaminski, Vince J; Terraso, Michael
Subject:	RE: Speaker from Enron

Mike -- how about Lisa Jacobson?

 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Monday, August 27, 2001 8:24 AM
To:	Terraso, Michael
Cc:	Kean, Steven J.
Subject:	RE: Speaker from Enron

Mike,

I think it makes sense to send somebody from Enron to make a presentation,
given our relationship with the Wharton School. I  think it can be somebody
below Steve's level - the occasion does not justify allocating
time of a senior executive.

Vince

 -----Original Message-----
From: 	Terraso, Michael
Sent:	Monday, August 27, 2001 7:57 AM
To:	Kaminski, Vince J
Subject:	FW: Speaker from Enron

Vince, What is your opinion regarding the value of making a presentation?  Mike

 -----Original Message-----
From: 	Kean, Steven J.
Sent:	Friday, August 24, 2001 12:45 PM
To:	Terraso, Michael
Cc:	Kaminski, Vince J
Subject:	RE: Speaker from Enron

Please discuss with Vince.  I don't know how to engage relative importance

 -----Original Message-----
From: 	Terraso, Michael
Sent:	Friday, August 24, 2001 11:25 AM
To:	Kean, Steven J.
Subject:	RE: Speaker from Enron

Steve, if you think it would be of value to have someone speak  on at the Wharton School Energy Club, I can develop a presentation addressing the topic Global Warming and the Energy Industry.  Mike

 -----Original Message-----
From: 	Kean, Steven J.
Sent:	Friday, August 24, 2001 7:22 AM
To:	Terraso, Michael
Subject:	FW: Speaker from Enron

Look at the topic below.  Should we send somebody?
 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Thursday, August 23, 2001 5:43 PM
To:	Kean, Steven J.
Cc:	Patrick, Christie
Subject:	FW: Speaker from Enron

Steve,

I have received an inquiry from a professor at the Wharton School who
would like to invite a senior executive from Enron to speak at their
Energy Club. I gave him your name, so you can expect a call from him or one
of his associates.

Sorry if I put another burden on your shoulders.

Vince

 -----Original Message-----
From: 	"Kleindorfer, Paul" <kleindorfer@wharton.upenn.edu>@ENRON [mailto:IMCEANOTES-+22Kleindorfer+2C+20Paul+22+20+3Ckleindorfer+40wharton+2Eupenn+2Eedu+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 11:58 AM
To:	'vkamins@enron.com'
Subject:	FW: Speaker from Enron

Vince:

We are moving along on the weather derivatives project.  Had a good meeting with Joe Hrgovic and others on the project and we are now interviewing a number of distribution utilities.

On another note, our Energy Club is fairly active at Wharton and would be very interested in featuring Terence Thorn if he is still with Enron (or your senior Government Affairs person if Mr. Thorn has left Enron).  Could you kindly let me know how to contact Mr. Thorn (or his replacement) so I can speak with him/her briefly.  My alterior motive in asking you to do this is that you might copy him on your email to me so that he knows we are doing some work together.

Thanks in advance.

Paul

-----Original Message-----
From: Richard, Amy [mailto:amyricha@wharton.upenn.edu]
Sent: Wednesday, August 22, 2001 4:18 PM
To: 'kleindorfer@wharton.upenn.edu'
Subject: Speaker from Enron

Paul,

The speaker from Enron that I told you yesterday that I was interested in bringing in for the Energy Club Speaker Series is Terence H. Thorn, senior vice president, Environmental and International Government Affairs. A colleague of mine heard him speak in Kyoto in 1997 and said he gave a superb talk. As of 2000 he was still in this position, though I could not verify that he is now.

The proposed topic is Global Warming Policy and the Energy Industry.
---How will the Bonn agreement affect global strategy? What will be the near-term and long-term consequences of the agreement?
---How does US non-participation affect US market strategies versus strategies in participating countries?
---What is Enron's current position on global greenhouse gas policy? How is Enron managing and hedging this position?
---How will developing country energy markets participate in greenhouse gas mitigation?

The Energy Club Speaker Series takes place every other Monday from 4:30 to 6:30. There are a number of dates open during Fall semester.

I appreciate very much your help in trying to arrange this. Please let me know if there is any other information you need.

Thank you,
Amy

-----Original Message-----
From: Robbins, Michael C
To: Richard, Amy
Sent: 8/22/2001 1:14 PM
Subject: RE: enron

Hi Amy,
Did a little search on Enron's website and happened upon the guy's name.
Terence H. Thorn, senior vice president, Environmental and International
Government Affairs. Not sure if he is still with the company but see
what your professor thinks. I will try to get my hands on his paper from
the March 1997 meeting as well.

Michael

-----Original Message-----
From: Richard, Amy
To: Robbins, Michael C
Sent: 8/21/2001 6:28 PM
Subject: enron

Hi Michael

Remember we talked about the Kyoto conference and you said you heard the
Govt Affairs guy at Enron give an amazing speech about global warming? I
ran the idea to get a speaker on global warming by the 2nd yr in charge
of the Energy Club (http://dolphin.upenn.edu/~energy), and he thought
that would be great. And furthermore, the prof who I do research
for(Paul Kleindorfer)said he is very well connected with the big guys at
Enron and would love to jointly sponsor the talk. SO, do you remember
the guy's name? Was it Robert Reilly possibly? I don't know if he would
still be there but we can try.

Thanks-
Amy Richard


******************************************************************************
***
Confidential and Privileged.
Do not read if you are not the intended recipient.
Unauthorized use prohibited and taken at your own risk.
******************************************************************************
****

Please see attachment.

 - Confiden.DOC


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/01/2000
03:06 PM ---------------------------

Joseph Hrgovcic
06/01/2000 12:54 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Weather Derivatives: Under cover

---------------------- Forwarded by Joseph Hrgovcic/HOU/ECT on 06/01/2000
12:53 PM ---------------------------

	Enron North America Corp.

	From:  Lucy Ortiz                           06/01/2000 08:58 AM

To: Mark Tawney/HOU/ECT@ECT, Steven Vu/HOU/ECT@ECT, Brando
Hayden/HOU/ECT@ect, David Kistler/HOU/ECT@ECT, Gary Taylor/HOU/ECT@ECT, Paul
R Henry/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT, Rajib Saha/HOU/ECT@ECT,
Michael Nguyen/HOU/ECT@ECT, Tony Harris/HOU/ECT@ECT, Seth
Hurwitz/Corp/Enron@Enron, Timothy M Norton/HOU/ECT@ECT,  Nick mooney, Ingrid
Wees, Catherine Woolgar/LON/ECT@ECT,  Victoria Bedingfield, Raymond
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian
Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Weather Derivatives: Under cover

---------------------- Forwarded by Lucy Ortiz/HOU/ECT on 06/01/2000 08:56 AM
---------------------------

djcustomclips@djinteractive.com on 06/01/2000 09:21:18 AM
Please respond to nobody@mail1.djnr.com
To: 126812@mailman.enron.com
cc:
Subject: Weather Derivatives: Under cover

Business
Under cover
Martin Waller

05/31/2000
The Times of London
2W
31
(Copyright Times Newspapers Ltd, 2000)

   CORNEY & BARROW, the mainly City wine bar chain, is going into the
derivatives market. The chain is thought to be the first in the
hospitality industry to take a position against our atrocious
weather.

   Sarah Heward, the managing director, got the idea after meeting a
bunch of customers who had just left Garban to set up their own
business, Speedwell Weather Derivatives. About half her wine bars
have outside terraces which have understandably not proven too
popular of late.
   "They set me up with a hedge - my counterparty is Enron US," says
Heward. This safeguards a modest Pounds 15,000 of turnover.

Folder Name: Weather Derivatives
Relevance Score on Scale of 100: 94

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or
contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com
or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511
or contact your local sales representative.)
______________________________________________________________________

Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved


Kim, I did this last week after we talked.  Ken and I discussed that the best place for this report is with Richard Hanagriff.  I met with Richard and he agreed., The report has imbalance information on it that he can use.  Ken's "to do" was to get with Rick Dietz and make sure Rick was agreeable to the change.

Richard has access to run the report and if he ran into any problems, Ken is making himself available this week.  Richard will run and distribute the report daily.

TK

 -----Original Message-----
From: 	Watson, Kimberly
Sent:	Friday, January 11, 2002 4:25 PM
To:	Lohman, TK
Subject:	FW: TW Daily Balance

TK, will you please connect up with Ken Powers and figure out how to transition this to TW for Feb. 1.

Thanks, Kim.

 -----Original Message-----
From: 	Powers, Ken
Sent:	Friday, January 11, 2002 3:50 PM
To:	Doll, Jeanette; Donoho, Lindy; Fancler, Dan; Geaccone, Tracy; Harris, Steven; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; Moore, Jan; Moseley, Debbie; Schoolcraft, Darrell; Watson, Kimberly; Y'barbo, Paul
Subject:	TW Daily Balance

Please see attached.

 << File: tw daily balance.pdf >>

Call me if you have any questions.

Ken Powers
(402) 398-7065


Jeff, you will be receiving a DASH from the principal investing group which
does not fit well into some of the charter criteria; however, I do think this
is a venture we should support.  In a nutshell, it is providing $10MM, in
seed capital, to be used in the start up of a new distributed generation
company having the primary mission of designing, fabricating and marketing
2MW to 22MW mobile turbine-generator sets.  These units are fully mobile via
the nations highways and can meet single digit NOX requirements given current
SCR technology. They are primarily utilized for back-up power, emergency
power, VAR creation and peaker application and are fully dual fuel capable.
The ultimate vision is a fleet of mobile/flexible/low cost generator sets
that can be put in place very quickly in the most stringent emissions and
constrained electrical regions and relocated when market conditions change.

The benefits include:
 a) 50% plus interest in a new distributed generation company with the
opportunity to raise private funds at later rounds and ultimately the
possibility of an IPO - similar companies in this space include Active Power,
Capstone and Elektryon;
 b) origination opportunities - the ENA mid-stream origination groups believe
that there are numerous opportunities (2001 to 2002 time frame) to utilize
this technology to take advantage of market opportunities and customer
applications;
 c) learning - the distributed generation/renewable space is an area of
critical importance for ENA and EES to understand.  If ENA through this
venture can make this technology work, it could be a very powerful tool in
our network used to capture opportunity and manage risk;
 d) low risk - it is expected that roughly 50% of the initial seed capital
would be recoverable through asset sales if for some reason the technology
did not work or the market did not materialize;
 e) low tech - this solution utilizes existing turbine/SCR technology;
 and f) ENA would have a controlling position in this new venture.

However, this venture is different than Active Power and several other
Principal Investing investments in that a) it is a very early stage company
and b) ENA will have to provide or procure a complete management team if the
technology proves out.  Given, that we could benefit most from the successful
application of this venture, it is worth the initial work.

Our partner is Power Systems Manufacturing of Boca Raton, Florida.  We have a
very solid history with this company.  They have successfully solved many of
the technical issues surrounding the Korean 6B's which are currently
operating at New Albany.  They would bring the technical and engineering
expertise at cost for their 50%.  ENA would ultimately have a buy-out clause
at a fixed number for their 50% .

If you would like to discuss in greater detail do not hesitate to call and I
will set up a meeting.

Regards
Delainey


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/17/2000
04:58 PM ---------------------------

"Webmaster@cera.com" <webmaster on 03/15/2000 04:51:55 PM
To: undisclosed-recipients:;
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: CERA Multimedia Presentation:  Wednesday, March 15, 2000

**********************************************************************
CERA Multimedia Presentation Replay Now Available!  March 15, 2000
**********************************************************************

Title: Northeast US Energy Markets: Implications of the Winter Price Spikes
Author: CERA
E-Mail Category: Conference Call, Multimedia
Product Line: North American Gas, North American Power, Refined Products

**  URL for North American Gas Clients:
http://www.cera.com/client/nag/media.cfm

**  URL for North American Power Clients:
http://www.cera.com/client/nap/media.cfm

**  URL for Refined Products Clients:
http://www.cera.com/client/rp/media.cfm

In a March 8, 2000 CERA multimedia conference call and web presentation, Joe
Sannicandro, CERA Director, Bill Veno, CERA Director, and Demetri Karousos,
CERA Associate Director discuss:

Northeast US Energy Markets and the Implications of the Winter Price Spikes:

*  Understanding the Winter Price Spikes in Electric Power, Natural Gas, and
Oil Products Markets in the Northeast US & the Interplay Between Fuels

*  Disentangling Short-term Demand and Inventory Forces From Longer Run
Regional Energy Supply Needs

*  Was This Winter Unique or an Indicator of Building Long-term Pressures? A
Look at Next Year's Market

To view and listen to a replay of this presentation, please click on one of
the links above.

**end**

**********************************************************************
This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.

Terms of Use: http://www.cera.com/tos.html
Questions/Comments: webmaster@cera.com
Copyright 2000. Cambridge Energy Research Associates

 - att1.htm


Congratulations to all of the tournament winners!

The Fooseball Champions are Sebastien Bouvier and Gallin Fortunov of EES

The Air Hockey Champion is Sebastien Bouvier of EES.

The Darts Champion is James Whitehead of Networks.

If you have not picked up your Showdown T-shirt, please come to EB737 to get
one.  Thanks!


- Lord Im available to you.doc


but the broker has 207.50?

---------------------- Forwarded by Kerri Thompson/Corp/Enron on 03/12/2001
04:56 PM ---------------------------

Kerri Thompson
03/12/2001 04:09 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb

missing deals for mark

sell mirant
april
25 mw
207.50
pv

sell mirant
april
25 mw
205.00
pv


She's making them now. The trip just came up 30 minutes ago.

From: Suzanne Adams@ECT on 11/07/2000 10:07 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: FCEL consent to disclosure letter

Did Claude make the reservations?

	Kay Mann@ENRON
	11/07/2000 10:02 AM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: Re: FCEL consent to disclosure letter

I don't have it.

From: Suzanne Adams@ECT on 11/07/2000 09:50 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: FCEL consent to disclosure letter

Do you have a copy of an itinerary for me or have you already sent it?  I'll
print this as soon as Dan's job is finished.  I'll take care of the rest.

	Kay Mann@ENRON
	11/07/2000 09:48 AM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: FCEL consent to disclosure letter

Please print the attached on letterhead.

I'm leaving for Connecticut shortly, and will be back in the office on
Thursday (or so I exepct).  Please handle the following

Call David Runnels at A & K and tell him thanks, but I can't use the opera
tickets this weekend.

Cancel my RSVP for Carrin Patman's lunch tomorrow.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/07/2000 09:46
AM ---------------------------

Kay Mann
11/03/2000 04:52 PM
To: jeff.ader@enron.com, heather.kroll@enron.com
cc:

Subject: FCEL consent to disclosure letter

As requested, I went the abbreviated route.

Kay


I think it's a good idea since the provisional application is on file -
Travis is the internal lawyer who has taken care of the patent application so
he will have better ideas for where the words should be placed and
appropriate look and feel (I would guess near the copyright notice and
roughly equivalent size).

	David Forster@ENRON
	07/17/2000 06:15 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: Patent Pending

Mark,

We are thinking of adding a Patent Pending message to key EnronOnline pages
(like the homepage). Can you offer comments/concerns/guidelines?

Dave


Steve,

I prepared this speech for Greg Whalley before the holidays, I wanted to make
sure you received a copy.
The presentation  "The Impact of Higher Energy Prices to the US Economy"
may be useful in Ken Lay's speech.

M

Maureen


---------------------- Forwarded by Don Miller/HOU/ECT on 10/28/2000 03:31 PM
---------------------------

Linda L Lawrence@ENRON
10/27/2000 09:46 AM
Sent by: Linda L Lawrence@ENRON
To: Stuart Zisman/HOU/ECT@ECT, Don Miller/HOU/ECT@ECT, Christi L
Nicolay/HOU/ECT@ECT
cc: Larry Soderquist/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Sheila
Tweed/HOU/ECT@ECT
Subject: Re: Indiana Peaking Plant

Attached are the interconnect agreements requested below, if you cannot
access, please let me know.

Thanks
Linda
36872

	Christi L Nicolay@ECT
	10/26/2000 06:41 PM

		 To: Stuart Zisman/HOU/ECT@ECT
		 cc: Leslie Hansen/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Larry
Soderquist/HOU/ECT@ECT, Don Miller/HOU/ECT@ECT, Linda L
Lawrence/NA/Enron@Enron
		 Subject: Re: Indiana Peaking Plant

Stu--Both were filed with FERC.  The remote control agreement was filed on
5/8/00 ER00-2447.  The interconnection agreement was also filed with FERC,
however, the FERC website just went down.  I will be out in the morning, so
if you need the interconnection agreement between Westfork and Indianapolis
Power & Light, please call my para legal  Linda Lawrence 36872 to pull for
you.

From: Stuart Zisman on 10/26/2000 06:24 PM
To: Leslie Hansen/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Christi L
Nicolay/HOU/ECT@ECT, Larry Soderquist/HOU/ECT@ECT
cc: Don Miller/HOU/ECT@ECT

Subject: Indiana Peaking Plant

On a conference call today dealing with the sale of the Wheatland, IN peaking
facility, I was asked whether either the IPL Interconnection Agreement or the
Remote Control Operating Agreement with IPL was(or should have been) filed
with/approved by the FERC.  Do any of you have any insight into this issue?
I was not involved in either of these agreements.  Please advise ASAP.  Many
thanks.

Stuart


2:30 - 3:30  Jim Ciconni - Enron

4:45 Fly to Houston


Kent,
     I understand your concern, but at this point, I may have to tell you who the "right" person is for the time being.  I am working the situation from this end and will advise you what needs to be done, why and when.   Whatever is done, I can assure you that your "right" choice to fill any position will be from within our group, and will make sense from an overall ETS Commercial perspective.

Dan

 -----Original Message-----
From: 	Miller, Kent
Sent:	Monday, November 19, 2001 4:16 PM
To:	McCarty, Danny
Cc:	Neubauer, Dave
Subject:	Storage Business

Danny,

Listed below are some statistics that we keep track of relative to our IDD business.  The growth of this business is attributable to the great mix and number of people that we have in the Storage group under Sue's direction.  We feel that a big reason for our success is the great team that we have built and we have gone to great lengths to insure that we have the right mix of people in the group.  This is why were so excited to see that Morgan was interested in coming back to the group.  Not only does this get our staffing back to the level that it needs to be, but Morgan has proven that he is highly effective in the group.  If the situation with Morgan doesn't work out then I feel the need to continue looking for the "right" person to replace Theresa.

This approach is also the approach for the Pricing and Structuring group under Jo's leadership (i.e. insuring the right mix and number of people).  We have been looking to replace Jeff Nielsen with the right person and feel that the security of our business requires another person on the Pricing Desk.

I wanted to bring both of these jobs to your attention given the staffing questions that we had today.

STORAGE STATISTICS:
		Transactions (Bcf)		Annual Revenue ($millions)
1997			  49				$  5.5
1998			  39				$  6.7
1999			  40				$  6.7
2000			  85				$10.7
2001			119				$21.2


Ken:

This looks fine to me.  Where do we go from here?

Mark


Norma,

FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/05/2001
05:23 PM ---------------------------

Anita DuPont@ENRON
01/04/2001 04:43 PM
To: Vince J Kaminski/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Tanya
Tamarchenko/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Martin Lin/HOU/ECT@ECT,
Maureen Raymond/HOU/ECT@ECT, Osman Sezgen/HOU/EES@EES, Paulo
Issler/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON, Alex
Huang/Corp/Enron@ENRON, Kevin Kindall/Corp/Enron@ENRON, Kevin G
Moore/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, William
Smith/Corp/Enron@ENRON, Jose Marquez/Corp/Enron@ENRON, Chonawee
Supatgiat/Corp/Enron@Enron, Shalesh Ganjoo/HOU/ECT@ECT, Elena
Chilkina/Corp/Enron@Enron, Gwyn Koepke/NA/Enron@Enron, Hector
Campos/HOU/ECT@ECT, V Charles Weldon/HOU/ECT@ECT, Praveen
Mellacheruvu/HOU/EES@EES, Li Sun/NA/Enron@Enron, Stephen
Bennett/NA/Enron@ENRON, Roman Zadorozhny/HOU/EES@EES, Lance
Cunningham/NA/Enron@ENRON, Leann Walton/NA/Enron@ENRON, Shane
Green/HOU/EES@EES, Seksan Kiatsupaibul/HOU/EES@EES, Nelson
Neale/NA/Enron@Enron, Kenneth Parkhill/NA/Enron@ENRON, Jason
Sokolov/HOU/ECT@ECT, Steve Bigalow/NA/Enron@Enron, Rakesh
Bharati/NA/Enron@Enron
cc:
Subject: Research Group Party on January 6, 2001

Please let me know by 2:00 PM tomorrow whether you are coming to the Research
Group Party on Saturday.  Also,if you are attending,  what food item will you
bring and how many adults and children will be attending.  I need to know
final numbers so I can buy the paper goods, drinks, etc. that are being
furnished for the party.

---------------------- Forwarded by Anita DuPont/NA/Enron on 01/04/2001 04:26
PM ---------------------------

Anita DuPont
01/02/2001 03:15 PM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Pinnamaneni
Krishnarao/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Mike A
Roberts/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT, Tanya
Tamarchenko/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Martin Lin/HOU/ECT@ECT,
Maureen Raymond/HOU/ECT@ECT, Osman Sezgen/HOU/EES@EES, Paulo
Issler/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON, Alex
Huang/Corp/Enron@ENRON, Kevin Kindall/Corp/Enron@ENRON, Kevin G
Moore/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, William
Smith/Corp/Enron@ENRON, Jose Marquez/Corp/Enron@ENRON, Chonawee
Supatgiat/Corp/Enron@Enron, Shalesh Ganjoo/HOU/ECT@ECT, Tom
Halliburton/Corp/Enron@Enron, Elena Chilkina/Corp/Enron@Enron, Sevil
Yaman/Corp/Enron@Enron, Sofya Tamarchenko/NA/Enron@Enron, Bob
Lee/NA/Enron@Enron, Gwyn Koepke/NA/Enron@Enron, Hector Campos/HOU/ECT@ECT,
Shirley Crenshaw/HOU/ECT@ECT, V Charles Weldon/HOU/ECT@ECT, Yana
Kristal/Corp/Enron@ENRON, Praveen Mellacheruvu/HOU/EES@EES, Li
Sun/NA/Enron@Enron, Stephen Bennett/NA/Enron@ENRON, Roman
Zadorozhny/HOU/EES@EES, Lance Cunningham/NA/Enron@ENRON, Leann
Walton/NA/Enron@ENRON, Shane Green/HOU/EES@EES, Seksan
Kiatsupaibul/HOU/EES@EES, Kate Lucas/HOU/ECT@ECT, Nelson
Neale/NA/Enron@Enron, Rabi De/NA/Enron@ENRON, Kenneth
Parkhill/NA/Enron@ENRON, Jaesoo Lew/NA/Enron@ENRON, Jason
Sokolov/HOU/ECT@ECT, Steve Bigalow/NA/Enron@Enron, Rakesh
Bharati/NA/Enron@Enron, Tom Barkley/NA/Enron@Enron
cc:

Subject: Research Group Party on January 6, 2001

Hope you can join us.

Regards,
Anita


My thanks to all involved in the disaster support effort.  I would especially like to thank those in setting up the online matching.  It made giving a very simple task.  Thanks again.

Gary Choquette


---------------------- Forwarded by George Weissman/HOU/ECT on 03/28/2000
03:31 PM ---------------------------

Mary M Smith
04/26/99 04:53 PM
To: Hank Eisenhour
cc: George Weissman/HOU/ECT@ECT, Eric Wardle/HOU/ECT@ECT
Subject: Re: Teco Gas Processing Company

Is there still a problem with this?  We need HPLC to nominate for 1/99
forward at meter no. 6884.  Please let me know the status.  Thanks, Mary
---------------------- Forwarded by Mary M Smith/HOU/ECT on 04/26/99 04:49 PM
---------------------------

Gregory Allen Jackson
04/26/99 02:22 PM
To: Hank Eisenhour/HOU/ECT@ECT
cc: Mary M Smith/HOU/ECT@ECT, George Weissman/HOU/ECT@ECT
Subject: Re: Teco Gas Processing Company

I'm not sure what's going on, but I DID NOT see a TECO  deal ticket in MOPS
for Houston Pipeline Company anywhere (January 1999 to March 1999).  I DID
see one on Houston Pipeline Company Resources.

As my original note stated, I think this is a buy/sell which means that TECO
Gas Processing should appear in both the Market and Supply depending on
HPLC's position.

Please let me know something ASAP.

3-9768

Mary M Smith
04/12/99 12:39 PM
To: George Weissman/HOU/ECT@ECT, Hank Eisenhour
cc: Gregory Allen Jackson/HOU/ECT@ECT
Subject: Teco Gas Processing Company

The sitara deal needs to reflect 3/99 forward.  1/99 and 2/99 was done.
Thanks, Mary
---------------------- Forwarded by Mary M Smith/HOU/ECT on 04/12/99 12:37 PM
---------------------------

Gregory Allen Jackson
04/12/99 09:44 AM
To: Jennifer Meador/HOU/ECT@ECT
cc: Mary M Smith/HOU/ECT@ECT, Theresa R Kotrla/HOU/ECT@ECT, Gary W
Lamphier/HOU/ECT@ECT, Sabrae Zajac/HOU/ECT@ECT
Subject: Teco Gas Processing Company

Mary, this is the message I left a voice mail concerning.  In addition to the
other producer at this meter, the following needs to be setup:

POPS HPLC transport delivery  12-41500-203 done (there)
MOPS HPLC sale to Teco GP  12-86978-101 NEEDED (think this is buy/sell
arrangement); no deal ticket.

Gary Lamphier is looking into the Exxon Jack Creek receipt flow at meter 6884
- make final determination on whether it's either HPLR or HPLC.  The deal
setup in POPS and MOPS as HPLR.

Summary:
Need HPLC sale to TECO related to transportation  delivery in POPS.
Final determination on whether the current HPLR purchase from TECO at Exxon
Jack Creek is correct or should HPLC be purchasing from TECO - starting in
February 1999 business.

Thanks for you help,  3-9768

---------------------- Forwarded by Gregory Allen Jackson/HOU/ECT on 04/12/99
09:18 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  George Weissman                           04/09/99 04:22 PM

To: Gregory Allen Jackson/HOU/ECT@ECT
cc: Greg Brazaitis/HOU/ECT@ECT, Jim Coffey/HOU/ECT@ECT
Subject: Teco Gas Processing Company

Re the Teco contract at 6884 (2/24/99):

To: George Weissman/HOU/ECT@ECT, Mary Jo Johnson/HOU/ECT@ECT, Cynthia
Hakemack/HOU/ECT@ECT, Nidia A Martinez/HOU/ECT@ECT, Alexia
Gonzales/HOU/ECT@ECT, Sean J Smith/HOU/ECT@ECT, Vance L Taylor/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT
Subject: GT#: 1917 - Teco Gas Processing Co. and Houston Pipe Line Company

I am forwarding a copy of the Committed Reserves Agreement (First Purchaser)
contract for your information.  Contract Date: 12/01/98, Global Number:
96019500, and Synergi Number: 012-86978-101.

Please give me a call if you have any questions.

Thanks,
Daniel

------------------ Forwarded by George Weissman/HOU/ECT on 04/09/99 04:16 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  George Weissman                           01/27/99 06:01 PM

To: Vance L Taylor/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT, Jim
Coffey/HOU/ECT@ECT, Greg Brazaitis/HOU/ECT@ECT
Subject: Teco Gas Processing Company

Melissa's second sentence refers to the Teco Gas Processing Company 12/1/98
contract covering meters 6884 and 419.  This contract was obtained in
connection with the Seven Oaks/Turpentine Lease Line renewal, and it doesn't
appear to have hit the system.  Please ensure that the contract is set up and
filed.

George
---------------------- Forwarded by George Weissman/HOU/ECT on 01/27/99 05:47
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Melissa Graves                           01/24/99 04:03 PM

To: George Weissman/HOU/ECT@ECT
cc: Amelia Alland/HOU/ECT@ECT, Daniel Verastegui/HOU/ECT@ECT
Subject: Swift Energy Company, Meter 2630, 012-86150-103

George,

At the 9th WorkDay meeting you had asked if we had seen the paper on the
above referenced.  I have checked our database, and it appears that we have
not.  The contract in the system does reflect at GS at this point.

I also checked on Teco Gas Processing Company, and it does not appear we have
seen the paper on this one either.

Thank you,
Melissa