Great,
m

	Enron North America Corp.

	From:  Fred Philipson @ ENRON                           09/11/2000 04:46 PM

To: Mike McConnell/HOU/ECT@ECT
cc:
Subject: Re: Air Cargo Capacity Trading at Enron

Mike,

Thanks a lot for your efforts here.  I've got interviews with Louise K,
Jeffrey Shankman and Dan Reck this week!  I'll let you know if anything
happens.

Fred

	Enron North America Corp.

	From:  Mike McConnell @ ECT                           09/06/2000 01:23 PM

To: Daniel Reck/HOU/ECT@ECT
cc: Fred Philipson/Corp/Enron@Enron, Jeffrey A Shankman/HOU/ECT@ECT

Subject: Air Cargo Capacity Trading at Enron

Dan,

Fred has not had much luck with getting attention with this.  This sounds
like it should be in your (new) group.  Please give Fred a call, I think this
sounds very interesting and is worth a follow-up.

Mike
---------------------- Forwarded by Mike McConnell/HOU/ECT on 09/06/2000
01:20 PM ---------------------------

	Enron North America Corp.

	From:  Fred Philipson @ ENRON                           09/05/2000 03:49 PM

To: Louise Kitchen/HOU/ECT@ECT
cc: Allan Sommer/Corp/Enron@Enron, Mike McConnell/HOU/ECT@ECT
Subject: Air Cargo Capacity Trading at Enron

Hello Louise:

I recently authored a white paper, giving some background on the air cargo
business for Enron Net Works.  In the paper, I identified the hurdles we
would need to overcome in order to create a market for trading air cargo
capacity futures, none of which were deemed insurmountable.  I further
suggested that Enron could approach this business by leveraging EOL to act as
a non vessel owning common carrier, trading physical capacity while readying
the market (and ourselves!) for financial trading.

I am very interested in moving this business idea along here within Net
Works.  I have some ideas regarding likely industry partners that could move
us along rather quickly.  I think the logical next step may be to get with
you or with someone on your staff to begin some dialog with the eventual goal
of creating a business plan.  Any thoughts?

Thanks!

Fred Philipson
5-9323


Melissa,

I show that we also had 20.000 at LS HPL for the 13th.

Daren

"Melissa Jones" <mjones7@txu.com> on 08/14/2000 11:31:06 AM
To: "Charlie Stone" <cstone1@txu.com>, "Gary Green" <ggreen2@txu.com>,
timpowell@txu.com, daren.j.farmer@enron.com, gary.a.hanks@enron.com,
carlos.j.rodriguez@enron.com, earl.tisdale@enron.com, ami.chokshi@enron.com
cc:
Subject: Enron / HPL Actuals for August 11-13, 2000

August 11,2000

     Teco Tap       108.333 / HPL IFERC ; 20.000 / Enron

     LS HPL LSK IC       20.000 / Enron

August 12, 2000

     Teco Tap       85.000 / HPL IFERC ; 20.000 / Enron

     LS HPL LSK IC       20.000 / Enron

August 13, 2000

     Teco Tap       32.500 / HPL IFERC ; 20.000 / Enron


Vince,

Thank you for your efforts in talking to your corporate recruiting
people.  Maybe we could figure something out next time.  For your trip on
Nov. 1, please let me know if you'd like us to book a hotel for you or
you'd like to make your own arrangement.  The tentative plan is that we
can go to dinner together on 10/31.  On 11/1, I am thinking about
having you meet with another faculty, I and a Ph.D student from 10am to
11am.  We are supervising the Ph.D. student on finding research topics in
bandwidth trading.  The seminar will be from 11am to noon.  Our QCF
director will take you to lunch after the seminar.  And at 2pm, we'd
like you to meet with our QCF students for an hour or so.  Let me know if
this sounds fine to you.

Please send me the title and abstract of your talk as soon as possible so
that I could make the announcement soon.  Thanks.

Shijie

Shi-Jie Deng
Assistant Professor
School of ISyE
Georgia Institute of Technology

Office Phone: (404) 894-6519
E-mail:       deng@isye.gatech.edu
Home page:    http://www.isye.gatech.edu/~deng

On Thu, 4 Oct 2001 Vince.J.Kaminski@enron.com wrote:

> Shijie,
>
> I talked top my recruiting people, but their schedule is full and they
> cannot accommodate a trip
> to another school this fall. I shall be glad to make a presentation about
> the Analyst/Associate
> program and encourage your students to apply.
>
> Vince
>
>
>     -----Original Message-----
>    From:   Shijie Deng <deng@isye.gatech.edu>@ENRON
>              [mailto:IMCEANOTES-Shijie+20Deng+20+3Cdeng+40isye+2Egatech+2Eedu+3E+40ENRON@ENRON.com]
>
>
>    Sent:   Friday, September 21, 2001 8:53 AM
>    To:     Kaminski, Vince J
>    Cc:     Shijie Deng
>    Subject:  RE: visit Georgia Tech and QCF info
>
>
>    Vince,
>
>    Have you had the chance to check if your recruiting people could come
>    with you to meet with our first graduating class of the QCF program?  We
>    currently have you scheduled to speak in the morning of Nov. 1.  For
>    the matte of accommodating your recruiting folks' schedule, we have the
>    folloing dates open for their visiting as well:
>    Oct. 16, 18, 23 and 25.
>
>    Here is the URL of our QCF program info. again:
>    http://www.qcf.gatech.edu/
>    Please let me know if you hear anything.  Thanks.
>
>    Best,
>
>    Shijie
>
>    Shi-Jie Deng
>    Assistant Professor
>    School of ISyE
>    Georgia Institute of Technology
>
>    Office Phone: (404) 894-6519
>    E-mail:       deng@isye.gatech.edu
>    Home page:    http://www.isye.gatech.edu/~deng
>
>    On Thu, 13 Sep 2001 Vince.J.Kaminski@enron.com wrote:
>
>    >
>    > Shijie,
>    >
>    > November 1 works for me.
>    >
>    > I would come on Wednesday evening  and leave Thursday evening.
>    > I cannot stay away from the office for more than one day. Does it work
>    for
>    > you?
>    >
>    > Vince
>    >
>    >     -----Original Message-----
>    >    From:   Shijie Deng <deng@isye.gatech.edu>@ENRON
>    >
>    [mailto:IMCEANOTES-Shijie+20Deng+20+3Cdeng+40isye+2Egatech+2Eedu+3E+40ENRON@ENRON.com]
>    >
>    >
>    >    Sent:   Thursday, September 13, 2001 12:35 PM
>    >    To:     Kaminski, Vince J
>    >    Cc:     deng@isye.isye.gatech.edu
>    >    Subject:  RE: visit Georgia Tech and QCF info
>    >
>    >
>    >    Vince - I forwarded you the following set of possible dates for
>    your
>    >    visit
>    >    to our school.  Have you had the chance to pick one?  Thanks.
>    >
>    >    Shijie
>    >
>    >    On Fri, 7 Sep 2001, Shijie Deng wrote:
>    >
>    >    >
>    >    > Vince,
>    >    >
>    >    > How about Oct. 8, Oct. 9, or Nov. 1, or maybe sometime in the
>    last
>    >    week of
>    >    > September?  Thanks.
>    >    >
>    >    > Shijie
>    >    >
>    >    > Shi-Jie Deng
>    >    > Assistant Professor
>    >    > School of ISyE
>    >    > Georgia Institute of Technology
>    >    >
>    >    > Office Phone: (404) 894-6519
>    >    > E-mail:       deng@isye.gatech.edu
>    >    > Home page:    http://www.isye.gatech.edu/~deng
>    >    >
>    >    > On Fri, 7 Sep 2001 Vince.J.Kaminski@enron.com wrote:
>    >    >
>    >    > > Shijie,
>    >    > >
>    >    > > Thanks for your message. I  checked my schedule and all the
>    dates
>    >    you have
>    >    > > proposed don't
>    >    > > work for me.
>    >    > > Any other suggestions?
>    >    > >
>    >    > > Vince
>    >    > >
>    >    > >     -----Original Message-----
>    >    > >    From:   Shijie Deng <deng@isye.gatech.edu>@ENRON
>    >    > >
>    >
>    [mailto:IMCEANOTES-Shijie+20Deng+20+3Cdeng+40isye+2Egatech+2Eedu+3E+40ENRON@ENRON.com]
>    >    > >
>    >    > >
>    >    > >    Sent:   Wednesday, September 05, 2001 3:01 PM
>    >    > >    To:     Kaminski, Vince J
>    >    > >    Cc:     Shijie Deng
>    >    > >    Subject:  Re: visit Georgia Tech and QCF info
>    >    > >
>    >    > >
>    >    > >    Vince,
>    >    > >
>    >    > >    How is everything going?  I'd like to check with you to see
>    if
>    >    you have
>    >    > >    decided on which day you'd like to come and give the seminar
>    in
>    >    > >    our school.  Thanks.
>    >    > >
>    >    > >    Shijie
>    >    > >
>    >    > >    Shi-Jie Deng
>    >    > >    Assistant Professor
>    >    > >    School of ISyE
>    >    > >    Georgia Institute of Technology
>    >    > >
>    >    > >    Office Phone: (404) 894-6519
>    >    > >    E-mail:       deng@isye.gatech.edu
>    >    > >    Home page:    http://www.isye.gatech.edu/~deng
>    >    > >
>    >    > >    On Fri, 17 Aug 2001, Shijie Deng wrote:
>    >    > >
>    >    > >    >
>    >    > >    > Vince,
>    >    > >    >
>    >    > >    > As a follow-up to our phone conversation, I am attaching
>    below
>    >    the URL
>    >    > >    for
>    >    > >    > our QCF program here at Georgia Tech for your corporate
>    >    recruiting
>    >    > >    folks.
>    >    > >    > http://www.qcf.gatech.edu/
>    >    > >    > It will be great if we could have your recruiting people
>    meet
>    >    with our
>    >    > >    > first graduating class of the QCF program.
>    >    > >    >
>    >    > >    > Regarding your visit, we'd be glad to cover the coach
>    airfare
>    >    and
>    >    > >    > lodging.  How about the first week of October, say on
>    either
>    >    10/2 or
>    >    > >    10/4,
>    >    > >    > or the last week of October, say 10/30?  The arrangement
>    would
>    >    be that
>    >    > >    you
>    >    > >    > come in on the evening of a Monday or a Wednesday and give
>    a
>    >    seminar
>    >    > >    on a
>    >    > >    > Tuesday or a Thursday.  Please let me know what works best
>    for
>    >    > >    > you.  Thanks.
>    >    > >    >
>    >    > >    > Shijie
>    >    > >    >
>    >    > >    > Shi-Jie Deng
>    >    > >    > Assistant Professor
>    >    > >    > School of ISyE
>    >    > >    > Georgia Institute of Technology
>    >    > >    >
>    >    > >    > Office Phone: (404) 894-6519
>    >    > >    > E-mail:       deng@isye.gatech.edu
>    >    > >    > Home page:    http://www.isye.gatech.edu/~deng
>    >    > >    >
>    >    > >    >
>    >    > >    >
>    >    > >    >
>    >    > >    >
>    >    > >
>    >    > >
>    >    > >
>    >    > >
>    >    > >
>    >
>    **********************************************************************
>    >    > > 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.
>    >    > >
>    >
>    **********************************************************************
>    >    > >
>    >    >
>    >    >
>    >
>    >
>    >
>
>
>


-----Original Message-----
From: 	Hanagriff, Richard
Sent:	Monday, January 28, 2002 9:28 PM
To:	Schoolcraft, Darrell; Lokay, Michelle; McConnell, Mark; Lindberg, Lorraine; Y'barbo, Paul; Watson, Kimberly; Hernandez, Bert; Mulligan, Amy; Ward, Linda; Giambrone, Laura; Minter, Tracy; Miller, Christopher L
Subject:	tw imbalances


Steve:  I'm going to give you a call.  Few things:
Got your message.  As you'll see from the document, I likely spent too much
time over the weekend on the "what's in it for consumers" messages.  Since it
was one of the the "to do" items, I figured that it should get some emphasis,
but sounds like that may not be the case.
I've proposed a template for how to provide feedback on the Gov's specific
proposals, using direct investment in power plants by the state as the
illustrative example.  Let me know if you think it works.  I have ideas on
each, but thought it better to await feedback from the commercial folks
before filling out our comments in each area.
I'm finishing up a bit more detailed proposal for how the Gov might use
"energy gurus" to help on the portfolio/procurment issues, and am also
offering additional detail on the need for a "rate summit."
Got messages in to Schroeder re: Nordpool--expect to hear back from him today
at some point and I can drop that info into the document soon as I get it.
Will talk to EES at 10 AM CST to discuss their proposals.  If you'd like to
join that call, let me know and I'll forward along the call-in number, which
I think you may already have in your email.
Have received a few comments from ENA that I'll incorporate.

Best,
Jeff


No problem - That's what friends are for.  I'm sorry you are so tired!
I'm wide awake and ansy to hear from Danny to see what kind of an offer he
can make me!!!  I want to move away now!  I'm curious to see how old Dave is
going to handle it when I tell him.

-----Original Message-----
From: Mark.Guzman@enron.com [mailto:Mark.Guzman@enron.com]
Sent: Monday, November 06, 2000 8:19 AM
To: katie.trullinger@wfsg.com
Subject:

Just wanted to thank you for your help with my pay check last week.  it was
greatly appreciated.  I am so tired. I didn't get to bed until 1am last
night and had to be here at 5:30.  YUCK!


Dan,

Here is a list of the Citizens assets:

NNT CIG Storage

Capacity  213,864 Dth
Max Daily Injection 1,426Dth
Max Daily Withdrawal 5,721Dth
Max Delivery Quantity 5,721Dth

CIG TF-1 Transportation

Jan 10,550 Dth/d
Feb 10,550 Dth/d
Mar 10,550 Dth/d
Apr   8,129 Dth/d
May   8,129 Dth/d
Jun   5,305 Dth/d
Jul   5,305 Dth/d
Aug   5,305 Dth/d
Sep   8,129 Dth/d
Oct   8,129 Dth/d
Nov 10,550 Dth/d
Dec 10,550 Dth/d

PSCo Transportation

Daily Transportation 2,809 Dth/d
Back-Up Reservation        400 Dth/d

Thanks
Paul


Hello, sistas-

Just visited with the coordinator of Josephine's House.   Here's some
additional info. - and we have a few questions to answer:

1) I have reserved the place on my credit card - there will be no actual
charge until the day of the event.

2) For a party of our size, they will offer a choice of soup or salad, 3
entrees and 2 desserts.   If we have a special request, we can let her know;
otherwise the choices will simply be from whatever the Jeffery's chef has
cookin' that night.

3) We need to choose either a soup or a salad for our group.    Preferences?

4) At some point, we will need to decide if we want to do hors deuvres in
addition to the three course meal.   She suggested oysters (for which they
are famous) and then some other, non-seafood appetizer.  These would be
served as guests arrive.

5)  She is faxing me a wine list - and would like to have our selection in
advance of the event.   Also, she asked if we wanted beer and an open bar in
addition to wine.   I told her I'd check with you - but that we wouldn't be
a heavy drinking crowd and that wine would probably be fine.    I thought we
might also want to do champagne - either with the appetizers or sometime
during the meal (maybe dessert?) in case we want to give a toast to the
happy couple.

Thoughts, everyone?      -the youngest and fattest

Cara White
Community Development Coordinator
USTA Texas Section
1-888-883-6388
cWhite@texas.usta.com


---------------------- Forwarded by Kay Mann/Corp/Enron on 02/20/2001 09:28
AM ---------------------------

Fritz Rumscheidt@ENRON_DEVELOPMENT
02/20/2001 09:11 AM
To: kay.mann@enron.com
cc:

Subject: Dick Westfahl Retirement


fyi
----- Forwarded by Elizabeth Sager/HOU/ECT on 05/02/2001 10:18 AM -----

	Melissa Ann Murphy
	04/30/2001 04:05 PM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc:
		 Subject: Options

Hello, attached below is an example of a monthly option and a daily option.
The only difference being one is exercised once a month and the other is
exercised daily.  The times that options are exercised varies by delivery
point and whether the option is daily or monthly.  We can send you a list of
these rules if needed.

Let me know if you need anything else.

Thanks,
Melissa
3-1886


-----Original Message-----
From: 	Lu, Zimin
Sent:	Friday, July 13, 2001 11:36 AM
To:	Kaminski, Vince J
Subject:	Risk Traing Class

Vince,

Here is your presentation on the exotic energy options with slightly modifications.
I added a few slides about Asian options and spread options. I used the Asian strip options as an
transition technique for the forward curve modeling.  For the weather presentation
I did a summary at the end. From the audience responses, it seemed the presentations
went well.

Zimin


Notice of Committtee Workshop on Exploring Alternative Wholesale Electricity Market Structures of California.

for details please visit the following address:

http://www.energy.ca.gov/electricity_outlook/notices/index.html

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

To unsubscribe from this list, please go to:

http://www.energy.ca.gov/listservers/

Or simply send an e-mail to majordomo@energy.ca.gov
and in the body of the e-mail, type in

unsubscribe (name of this list)

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

Farideh Namjou
Web Development Team
California Energy Commission
916-654-4989

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


fine and thanks.
m


Kay, why are we waiting to the end of August!!

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/10/2000
01:43 PM ---------------------------

	Enron North America Corp.

	From:  Kimberly Hillis                           07/10/2000 12:44 PM

To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Re: QBR East Midstream

Kay,

John is planning on vacation the last week in August.  All other dates are
good.

k

	Enron North America Corp.

	From:  David W Delainey                           07/10/2000 12:38 PM

Sent by: Kay Chapman
To: Janet R Dietrich/HOU/ECT@ECT, Jeffery Ader/HOU/ECT@ECT, Ozzie
Pagan/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Laura Luce/HOU/ECT@ECT, W David
Duran/HOU/ECT@ECT, Gil Muhl/Corp/Enron@ENRON, Bruce Sukaly/Corp/Enron@Enron,
Raymond Bowen/HOU/ECT@ECT, Billy Lemmons/Corp/Enron@ENRON, Don
Miller/HOU/ECT@ECT, Carl Tricoli/Corp/Enron@Enron, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron
cc: Christy Chapman/HOU/ECT@ECT, Claudette Harvey/HOU/ECT@ect, Shelby
Malkemes/Corp/Enron@ENRON, Lynn Pikofsky/Corp/Enron@ENRON, Tina
Rode/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Maxine E
Levingston/Corp/Enron@Enron, Deana Fortine/Corp/Enron@ENRON, Kimberly
Hillis/HOU/ECT@ect, Nicki Daw/NA/Enron@Enron, Jennifer Burns/HOU/ECT@ECT
Subject: QBR East Midstream

Dave and Mark  would like to have a three (3) hour meeting regarding QBR and
they have the following dates available.  Could you please let me know your
availability  for these dates ?

  August   15 -  Tuesday
  August    16 -  Wednesday
  August    17 -  Thursday
  August    18 -   Friday

  August     21 - Monday
  August     22 - Tuesday
  August     23 - Wednesday

Thanks,

Kay 3-0643


i haven't created it yet.  I was hoping to have the link there, so that I can put the file in the directory tomorrow morning (before you get in).  It will be called "curtailments.xls".

Mat

	Enron North America Corp.  From:  Amanda Huble                           03/22/2001 03:37 PM

To:	Matt Smith/NA/Enron@ENRON
cc:

Subject:	Re: web link

Where is the file located?

Matt Smith
03/22/2001 02:33 PM
To:	Amanda Huble/NA/Enron@Enron
cc:

Subject:	web link

Amanda,

Please add add a link called "Plant Outages (portland)", to the Gas Fundamentals website under the Power tab.  The description is as follows:

"Query of Portland's database of plant outages for yesterday and today."

Thanks.

Mat

<Embedded StdOleLink>


Hi,  How is everyone doing?  Busy , Busy, Busy I know.

I am currently in the middle of selecting our Japan Banking Relationship and
several questions have come up.

It is important that I understand how your trading settlements will work.

I have spoken to Louise Kitchen about Enron Online and where it fits in with
our banking.  Enron Online does not interface with the banking.  It
interfaces with a trading system/accounting system?  What I need to know is
what system is planned for Enron Japan's accounting for the trading.  The
accounting system you use will interface with our Treasury system.

What it boils down to, is the payment format that we will use to make local
Japanese payments may need special programming to meet the needs of the
Japanese  - English translation. The accounting system used will need to
interface with our Treasury software to process the settlements, we will need
to interface with the bank.

  Please advise.

Thank you,
Pam Perry


Tanya,

No problem.

Vince

Tanya Tamarchenko
11/20/2000 02:52 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Holidays and Vacations

Shirley,
I am planning to take the following days off in December:

12/21, 12/22, 12/27, 12/28.

I'd like to take 12/21 as Discretionary day, and 3 other days as vacation
days.

Tanya


Are you sure I don't need to be there?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


But in any event don't we want St. Mary's to cover these costs?

Teresa G. Bushman
Enron North America Corp.
1400 Smith Street, EB 3835A
Houston, TX  77002
(713) 853-7895
fax (713) 646-3393
teresa.g.bushman@enron.com

	Dan J Hyvl
	04/20/2001 02:56 PM

		 To: Teresa G Bushman/HOU/ECT@ECT
		 cc: Charles H Otto/HOU/ECT@ECT, Joan Quick/Enron@EnronXGate
		 Subject: Re: St. Mary's Letter Agreement

Teresa,
 I have reviewed the revisions to the VPP transaction with Charlie Otto.  We
have a concern relating to the term.  The term of this letter should be for
the period ending April 30, 2001.  The reason for our reluctance in extending
the term is that we do not know what conditions Texas Gas may put on the next
OFO nor do we know what conditions El Paso may put on the processing.

	Teresa G Bushman
	04/19/2001 05:45 PM

		 To: Charles H Otto/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT
		 cc: Joan Quick/Enron@EnronXGate
		 Subject: St. Mary's Letter Agreement

Attached are the St. Mary's letter agreement incorporating some revisions
relating to the VPP transaction and a marked copy showing changes from the
last draft distributed.  Please let me know if you have any questions or
comments or advise Joan if these revisions are OK.  Thanks.

Teresa G. Bushman
Enron North America Corp.
1400 Smith Street, EB 3835A
Houston, TX  77002
(713) 853-7895
fax (713) 646-3393
teresa.g.bushman@enron.com


When: Monday, February 04, 2002 1:00 PM-2:00 PM (GMT-06:00) Central Time (US & Canada).
Where: ECS 06112

*~*~*~*~*~*~*~*~*~*

NEW TIME
Please accept this invitation, as it will automatically populate onto your calendars.

Thank you,

Irena Hogan
x36143


----- Forwarded by Steven J Kean/NA/Enron on 09/20/2000 08:43 AM -----

	"EPADILL@pnm.com" <EPADILL
	09/19/2000 06:54 PM

		 To: "'jtunderh@srpnet.com'" <jtunderh@srpnet.com>, "'rstultin@apsc.com'"
<rstultin@apsc.com>, "'rsmith03@apsc.com'" <rsmith03@apsc.com>,
"'jwhitacr@epelectric.com'" <jwhitacr@epelectric.com>,
"'djensen@epelectric.com'" <djensen@epelectric.com>,
"'shoang@dwp.ci.la.ca.us'" <shoang@dwp.ci.la.ca.us>, "GWOLF@pnm.com"
<GWOLF@pnm.com>, "DHINES@pnm.com" <DHINES@pnm.com>, "'allenjw@sce.com'"
<allenjw@sce.com>, "'grfrere@srpnet.com'" <grfrere@srpnet.com>,
"'michael.d.lopez@sce.com'" <michael.d.lopez@sce.com>, "'amacfa@ladwp.com'"
<amacfa@ladwp.com>, "'shomer@scppa.org'" <shomer@scppa.org>,
"'skesler@apsc.com'" <skesler@apsc.com>, "'gordon.scott@nerc.com'"
<gordon.scott@nerc.com>, "Clark, Robert" <RCLARK@pnm.com>, "DFarmer@pnm.com"
<DFarmer@pnm.com>, "'don.benjamin@nerc.com'" <don.benjamin@nerc.com>,
"RFLYNN@pnm.com" <RFLYNN@pnm.com>, "THAMM@pnm.com" <THAMM@pnm.com>,
"'iliffandco@aol.com'" <iliffandco@aol.com>, "'skean@enron.com'"
<skean@enron.com>
		 cc:
		 Subject: SRP Change in Business Practice at Palo Verde

Please see attached letter, same subject -- signed, hard copy to follow.

 <<SRP Change.doc>>

 - SRP Change In Scheduling Practices_.doc


I'll be here

	David Minns@ENRON_DEVELOPMENT
	05/15/2000 01:34 AM

		 To: Sara Shackleton@ECT
		 cc: Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian
Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Re: Aquila Weather confirmation

Just to confirm we will call you tomorrow morning

David Minns
05/12/2000 05:49 PM
To: Sara Shackleton@ECT
cc: Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian
Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Aquila Weather confirmation

Sara can we schedule a phone discussion Monday 5:30pm (8:30am Tuesday
Sydney)  to go through the floating price issues so we can settle this
confirmation.


?
----- Original Message -----
From: Steven Kelly
To: Wayne  Kawamoto ; Ward Scobee ; Tony  Wetzel ; Thomas  Heller ; Steve
Ponder ; Steve  Iliff ; Ross Ain ; Robert Frees ; Pete Levitt ; Paula Soos ;
Paul  Wood ; Nam Nguyen ; Milt Schultz ; Marty McFadden ; Ken Salvagno ; Ken
Hoffman ; Jonathan Weisgall ;  Joe Ronan ; Joe Greco ;  Jack Pigott ; Hap
Boyd ; Frank Misseldine ; Ed Tomeo ; Ed  Maddox ; Duane Nelsen ; Doug Levitt
; Doug  Fernley ; Dean Gosselin ; Bob  Escalante ; Bob Ellery ; Bill Woods ;
Bill Carlson ; Bill Adams ; Alex  Sugaoka ; Lucian Fox ; Rich  Dyer ; Ted
Cortopassi
Cc: Jan  Smutny-Jones ; Katie  Kaplan ; Carol  Hudson ; Steven  Kelly ; Doug
Kerner ; Andy  Brown
Sent: Sunday, January 14, 2001 5:33 PM
Subject: UPDATE ON QF DISCUSSIONS IN DC

Late Sat. night, the Principles Group met to  discuss the status of the
overall progress made in various DC working  groups.? At that time, it was
clear that a number of outstanding issues  remained unresolved, including the
issue of "credit worthiness" going forward,  forbearance of past amounts due,
and what program (if any) would resolve the  utilities' cash position while
maintaining reliability.? Discussions are  continuing, and Tuesday is a
critical deadline as the utilities (particulalry  SCE) has a large payment
due that date.
?
The California legislature is developing  legislation to address some, or all
the issues required, including we have heard  QF SRAC payment reform.
?
Regarding QF issues, reform of the QF energy  payments is viewed by many as a
critical means to increase the utilities' cash  position.? While no
resolution of that matter was reached as of end of day  Saturday, Governor
Davis indicated during the Principles meeting that the CPUC  was going to
render a decision on Thursday this week to address that  matter.? Most people
inferred from this comment that the CPUC would take up  the Wood PD or some
modification of that PD.?
?
IEP believes that the approval of the Wood PD (or  an alternate) creates
serious procedural questions and legal questions.? We  are drafting comments
to the Wood PD which will be filed on Monday or Tuesday  which will address
these issues.? In addition, Jan spoke during the  Principles Group meeting on
Saturday, noting particularly that the Wood PD, if  voted out, would raise
the spector of a significant amount of in-state  generation not able to
operate, thereby raising significant reliability  concerns.
?
The QF working group addressing  modifications/reform of the existing SRAC
payment structure was? not able  to reach consensus as of noon Sunday.? Talks
are expected to continue with  the utilities on Monday, in San Francisco at
11:00 a.m. at PG&E.? In  addition, given the signals from the governor and
others, some QFs have  proceeded with bilateral discussions with their
utility contract holders to work  out contract modifications/reforms on a
bilateral basis.?
?
[Note, I haven't yet checked all my emails, but I  believe we postponed the
Friday Restructuring/Transmission conference call to  Monday, Jan 15 at 9:00
a.m.? This will give us an opportunity to fully  brief you.
?
?


Sequence - HC6510544


I thought about you when I heard about Enron.  Were you affected? Give me a
call and we can meet up sometime.

Brian A. Horn, MCSE
Manager of Technical Operations
Trilegiant - Houston
Office       832.486.8265
Fax           832.486.8265
Cell          713.501.6447


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
04:42 PM ---------------------------

Shirley Crenshaw
03/19/2001 01:36 PM
To: ludkam@aol.com
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Vince's Itinerary - 3-20-01 to 3-23-01

Hi Ludmilla:

Attached is Vince's itinerary to London the 20th - 23rd.

Shirley


---------------------- Forwarded by Mary Hain/HOU/ECT on 08/29/2000 06:23 PM
---------------------------

Mary Hain
08/29/2000 06:11 PM
To: James D Steffes/HOU/EES@EES, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Christopher F Calger/PDX/ECT@ECT, Tim
Belden/HOU/ECT@ECT, Joe Hartsoe@Enron, Paul Kaufman/PDX/ECT@ECT, Sarah
Novosel/Corp/Enron@ENRON, David Parquet/SF/ECT@ECT, jdasovic@ees.enron.com,
Mona Petrochko, Kevin M Presto/HOU/ECT@ECT, Richard Shapiro, Steve Kean,
Chris H Foster/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Susan J Mara/SFO/EES@EES
cc: Christi Nicolay
Subject: FERC Presentation on California/West Wholesale Market

Last Thursday, I made the first attached presentation to the FERC Staff at
the power marketer's meeting on the FERC's investigation of the wholesale
market in the West (and in particular California).  Ellen Wolf (of Tabors
Caramanis) and I created this presentation building on previous presentations
by Tim Belden and Dave Parquet.  In the presentation and the meeting we made
the following points:
There isn't much FERC can do because the cause of the price spikes is not in
the wholesale market.  We discouraged FERC from taking any action that would
hurt the vibrant wholesale market in the California and the rest of the West
as well.
High prices logically resulted from scarcity and if the Commission does
anything it should (1) investigate whether market power was being exercised
by any party and, (2) if necessary to protect the market (while still
incenting needed generation) establish a price cap at a scarcity rent level
equal to the price at which loads were willing to interrupt.
The IOUs have not properly prepared for the risk of high prices caused by
scarcity.  They have failed to hedge and have underscheduled their load,
therefore having to fill a large percentage of their load at ISO real time
prices.  My analogy was that this was like day trading your retirement fund
as an asset allocation scheme.
The market would function better if more information was provided to the
market.
The Commission should do whatever it can to incent participation by load.
To see the presentation, detach, save, and view in Powerpoint.  When you do,
you will find there are many "hidden" slides that were not part of the oral
presentation but were provided to Staff in hard copy for additional
information.

According to the head of the investigation (Scott Miller), the staff got alot
more out of this meeting than Staff's previous meetings with the IOUs and the
generators.  Based on the numerous phone calls I've been getting, the Staff
is looking into the data we provided.

I have also attached a revised version of the presentation that Tim sent to
Scott Miller on Friday.  Tim's version conveys the same message but takes a
different approach to conveying the message.  On Friday, Tim talked to Scott
and answered some additional questions.  Tim said that Enron is in favor of
eliminating the mandatory PX buying requirement and would like the IOUs to be
able to buy from Enron Online.  He also explained more fully the existence of
scarcity .


I haven't tried yet.  Things are ok.  Michael is mad because I won't let him
open a present.

"Neil Mann" <nmann@erac.com> on 12/18/2000 09:29:49 AM
Please respond to <nmann@erac.com>
To: "C. Kay Mann (E-mail)" <Kay.Mann@Enron.com>
cc:

Subject: Good morning

Good morning!
I just got out of my meeting. How are things there?
Have you been able to reach Rey yet?
Love, Neil


This was the emergency.
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/09/2001 02:49
PM ---------------------------
From: Brian D Barto@ENRON_DEVELOPMENT on 03/09/2001 02:41 PM
To: Kay Mann/Corp/Enron@Enron
cc: Richard Morell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: ABB Purchase Agreement

Kay:  Brice Golden insists that he has learned about the existance of a
Purchase Agreement in place under which projects such as his for Ft Pierce
can add their order for Transformers, without having to negotiate a stand
alone contract.  Sort of an ala carte arrangement.  I have asked Sheila Tweed
what she knew about this, and she said she had nothing, but did not know what
you might have done.  I know we have done bulk purchases and later split for
the different peaker  projects, and some others similar to that, but no
blanket agreement.  What have you got?

BB


PROCESSING

None...

TENDERED

02-062	Questar	Eff 1/1/02		Interconnect & Operating K	  	EXECUTED

25374	Oneok		Extend to 3/31/02	12,000/d	Panhdle to Beav #1	EXECUTED

26471	PPL		Eff RR In-Service	20,000/d	Swap RP Vol		EXECUTED

26758	Duke		Eff 3/1-3/31/02	40,000/d	Swap RP Vol		EXECUTED

27342	Sempra		Eff 3/1/02		30,000/d	Swap RP Vol		EXECUTED

27352	Sempra		Eff 3/1/02		21,500/d	Swap RP Vol		EXECUTED

27420	WTG		Extend to 3/31/02	2,584/d	Panhdle to Winkler	EXECUTED

27496	Reliant	Extend to 3/31/02	30,000/d	SJ Pool to Blmfld	EXECUTED

27642	Calpine	Eff RR In-Service	40,000/d	Swap RP Vol		EXECUTED

27803	BP		1/1/03-12/31/04	25,000/d	Blmfld to Needles	EXECUTED

27821	Cinergy	2/1-2/28/02		5,000/d	Cen Pool to Topock	Negotiating 2/1

27834	WGR		4/1/02-10/31/02	5,000/d	WTx Pl to PG&E Topk	EXECUTED

27835	WGR		11/02 - 12/03		10,000/d	WTx Pl to Socal	EXECUTED

27847	Tenaska	2/26/02 only		10,000/d	WTx Pl to Halley	EXECUTED

27847	Tenaska	Extend to 2/27/02	10,000/d	WTx Pl to Halley	EXECUTED

27848	Sempra		3/1-3/31/02(LFT)	15,000/d	Blmfld to Southwest	EXECUTED


Hi Stinson, Shales' initial in road to EBS was through David Cox (after
Vince's suggest to talk to David, I think).  What Shalesh did at the time was
to put a four page concept on trading storage as a commodity in the new
networked world.  He has keen interest in such an idea and has done some
work. He will be a good fit unless that person has to be in EBS under Jean
etc.... If so, we are not ready to let Shalesh go!  He can support that
effort, but I need him to get the supply & demand work in real-time user
friendly form for Jean's traders before Shalesh ventures onto something
else.  I did promising that I will get him involved in some juicy stuff like
new product/deals etc.... This may be his non-it stuff that he can do.....

What do you think?

Ravi.

	Stinson Gibner@ECT
	02/18/00 10:10 AM

		 To: Ravi Thuraisingham/Enron Communications@Enron Communications
		 cc: Vince J Kaminski/HOU/ECT@ECT
		 Subject: storage book...
Ravi:

Samer and I met this morning with Sara Ledbetter.   She is starting the
groundwork for setting up a storage book and a streaming book for tracking
the e-powered products positions.    They are having a meeting on next
Tuesday to discuss this.  Samer will attend.    This is a good opportunity to
start compiling the data that we will need for some of John Grieblings
questions.

--stinson

p.s.   Sara also asked if we knew anyone who would be interested in managing
the storage book.  Any suggestions?


<META HTTP-EQUIV="Content-Type" CONTENT="text/html;charset=iso-8859-1">

<META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso-8859-1">

<title>Energy News Live Daily Wrap-Up</title>

Dear Mike,

Congress is out of town, but we've still got plenty of energy
news from Washington.  The Federal Energy Regulatory Commission
meets on Tuesday.  One of the issues on the FERC's agenda is a
complaint filed against the California Independent System
Operator.  Some companies allege the ISO is giving the California
Department of Water Resources preferential market treatment in its new
role as California's main power purchaser.  We'll bring you the latest
from the FERC on Tuesday.

ENL's Washington bureau will also cover the release of the North
American Electric Reliability Council's Winter Assessment on
Tuesday.  The new NERC report will be released at 9:30 a.m. ET from the
National Press Club in Washington.

Also on Tuesday, ENL's Alison Kosik will bring us more from the
Department of Energy's Clean Coal Technology Conference in
Washington.  The event focuses on the latest in clean coal
innovation and the prospects for coal-fired generation in the U.S.

Houston Correspondent Kim Benestante reports, many companies feel
wild price swings could be eliminated with more accurate weather
predictions.  On Tuesday, Kim talks with Reliant Energy about
steps that can be taken to minimize weather risks.

Ivanhoe Energy Vice President of Investor Relations John
MacDonald talks with our Houston bureau about plans his company has
for Gas-to-Liquids production.  This type of motor fuel is
odorless and emissions-free.  We'll have more from MacDonald on Tuesday.

From the NASDAQ on Tuesday, ESAI Power and Gas Services Director
Edward Kraples will join us.  During the 9:00 a.m. ET newscast,
he'll talk about the amount of investment needed to keep Northwest
power prices from escalating.

Broadcasting Note: Thanksgiving is this Thursday and the ENL staff is
preparing the turkey.  The markets are closed Thursday and Friday, so
we'll be dark.

Wrap Note: In response to many viewer requests, starting today we're
going to add some of the day's commodity settles.  We hope you'll
enjoy this new addition to the daily wrap.

Crude:		$17.72

Unleaded:	$.5079

Heating Oil:	$.5238

Natural Gas:	$2.791

Keep in mind things are subject to change at a moment's notice.
Occasionally guests have to cancel or change time slots.  We'll continue
to do our best to keep you updated on future interviews and events.

Be sure to watch our newscasts every business day - 9 a.m. to 5
p.m. ET, at the top of each hour.

    Jay Rickerts,
EnergyNewsLive.com Anchor

      View today's Energy Wrap Video

      Windows Media Player:
56K  |
100K  |
300K

      Real Player:
56K  |
100K  |
300K

      (Requires Windows Media Player or Real
Player)

Experience all that Williams
Energy News Live has to offer!

If you are receiving this letter for the first time and wish to
continue,

subscribe now

To stop receiving this letter,
unsubscribe now

If you are having trouble receiving this e-mail, please let us know or
call
 (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.

Comments? Suggestions? Let us
know or
call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.

      Copyright 2001 Williams Energy News Live, LLC. All
Rights Reserved.


Start Date: 4/27/01; HourAhead hour: 12;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042712.txt


The MAC clauses are attached to the ISDA Master Agreement.  I will have a
sample copy walked down to you.


Tony,

No problem.

Vince

Anthony_Mends@enron.net on 04/24/2000 09:54:49 AM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Security - After Hours Access

Vince,
Thank you for honoring us at our home on Saturday. It was a real pleasure to
share an evening with you. We hope we shall be able to do it again with your
family when the opportunity arises.

I am forwarding to you a request from John Young who works in my group as a
Documentation Specialist. Kindly review his request and let me know if you are
able to grant it.
Tony
Enron Broadband Services
713-853-3939

----- Forwarded by Anthony Mends/Enron Communications on 04/24/00 08:37 AM
-----
|--------+----------------------->
|        |          John Young   |
|        |                       |
|        |          04/21/00     |
|        |          11:28 AM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|

|                                                                            |
  |       To:     Anthony Mends/Enron Communications@Enron
Communications      |
  |       cc:     Shirley Crenshaw/HOU/ECT@ECT, Krista
Reed/Contractor/Enron   |
  |       Communications@Enron
Communications                                  |
  |       Subject:     Security - After Hours
Access                           |

>----------------------------------------------------------------------------|

Tony,

Earl Harvey and I are located on the 19th floor inside the Corporate Research
Group's area, which is in a secured area.  They are a very supportive and
cooperative group, and conditions here are ideal for research, analysis, and
writing.  I don't want to jeopardize their security in any way, but, if
possible, I would like to be added to the after hours and weekend access list
for situations such as meeting deadlines and research & development.

The Research Group's director is Vince Kaminski (Ext. 3-3848) and Shirley
Crenshaw (Ext. 3-5290) is the group's administrative coordinator.  Their
security procedures require that Mr. Kaminski authorize Shirley to add people
to
the access list.  If you concur with my request, could you please extend the
request to Mr. Kaminski?

I have discussed my request with Shirley and am copying her with this memo,
but
I didn't want to copy Mr. Kaminski because I believe that you would see that
as
your responsibility; and that if you did not concur with my request, then
there
would be no reason to copy him at all.

Thanks,

JAY
713-853-5941


This meeting is at 4 o'clock


Steve,

I am glad you feel better.

Please, let Debbie know that she should not hesitate
to call on me or Paula (or the rest of he Woodlands
crowd if she needs help).

Vince

stevestock@pagenetips.com on 01/31/2001 06:16:13 AM
To: vince.j.kaminski@enron.com
cc:
Subject: Status

Vince,

First, thank you for the get well gift... It was a pleasant suprise.

Its been a fairly rough time here, with the extra complication of having
pnemonia on top of the Appendisitus. I've spent most of my stay in ICU so
have reakk slept since Thursday. My breathing has been of highest concern.

Yeserday, I had my tube removed from ny nose, which was very unpleasant but
long awated!!

I'm off to the OR this moring to have my open wound stiched up and then I'll
probably be sent to a generall ward.

Thanks again

Steve
-----------------
Tel: 713-345-8980
Cell: 713-598-0732


Attached is the draft Developers Agreement for Pompano and Deerfield along
with a draft letter to Larry Deetjen.  I am in the process of redlining the
Zisman draft against the newest version which I will forward momentarily.

_______________________________________________________________
The information contained in this transmission may contain
privileged and confidential information.  It is intended only
for the use of the person(s) named above. If you are not the
intended recipient,  you are hereby notified that any review,
dissemination, distribution or duplication of this
communication is strictly prohibited. If you are not the
intended recipient, please contact the sender by reply email
and destroy all copies of the original message.

To reply to our email administrator directly, please send an
email to postmaster@gtlaw.com.
 <<ENRON-DEERFIELD AGREEMENT.DOC>>   <<DBEC-Letter to Larry R. Deetjen.DOC>>
 <<EnronPompano Developers Agreement.DOC>>

 - ENRON-DEERFIELD AGREEMENT.DOC
 - DBEC-Letter to Larry R. Deetjen.DOC
 - EnronPompano Developers Agreement.DOC


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.


I believe Leslie does regulatory/legal work for ENA on a contract basis.

Steven Harris
11/29/2000 08:58 AM
To: Mike McGowan/ET&S/Enron@ENRON
cc: Drew Fossum/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON

Subject: Re: Misc

I am not sure about Leslie Lawner but maybe Drew or Susan Scott know. I do
not get reports from anyone else regarding activities in any state.

Mike McGowan
11/29/2000 08:33 AM
To: Steven Harris/ET&S/Enron@ENRON
cc:

Subject: Misc

Steve - is Leslie Launer(sp?) an Enron employee?   I know she once was, but I
believe she lives in New Mexico and is used by Enron at times.  Do we use
her?  What is her status and relationship with the pipeline group??

Do you get any reports from Tom Rutherford on New Mexico??


Let me know if this is what you wanted.


As per your request.

Ursula
 -----Original Message-----
From:  Burton, Katrina   On Behalf Of Katrina Burton/NA/Enron@ENRON
Sent: Thursday, July 12, 2001 4:59 PM
To: Brenner, Ursula
Subject: Deregulation Presentation
Importance: High


Thanks.

Do we still have the materials from the workshop that could be forwarded to
Jane?

	Mark Taylor
	10/25/2000 04:55 PM

		 To: Alan Aronowitz/HOU/ECT@ECT
		 cc: Tana Jones/HOU/ECT@ECT
		 Subject: Re: ISDA Master Documentation Workshop

Unfortunately Euromoney is no longer offering their courses.  They were by
far the best around and it's a real shame.  There is a PLI course being
offered in NY in mid November (at which I'm speaking on commodity
derivatives) and ISDA has a conference in London on collateral arrangements
and the ISDA Credit Support Documents.  Neither is anywhere near as good as
the old Euromoney courses but both would probably benefit Jane.

	Alan Aronowitz
	10/25/2000 04:16 PM

		 To: Tana Jones/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: ISDA Master Documentation Workshop

Are either of you aware of any master documentation workshops being offered
in NYC or London in the next few months that would be worthwhile for Jane
McBride to attend?  I remember several years ago going to a program that
Euromoney (or Eurocurrency) put on for 2-days focusing on ISDA's.

Please advise. Thanks.


Congratulations!  You have completed Derivatives I - Applied Energy
Derivatives.   Your attendance in this class has been recorded on your
transcript in the Development Center Database.

$800 has been charged to your Company and RC.  Thank you for participating in
this employee development activity.  We look forward to seeing you again
soon.


One day, when I was a freshman in high school, I saw a kid from my
class was walking home from school. His name was Kyle. It looked
like he was carrying all of his books. I thought to myself, "Why would anyone
bring home all his books on a Friday? He must really be a nerd." I had
quite a weekend planned (parties and a football game with my friends
tomorrow (afternoon), so I shrugged my shoulders and went on.

As I was walking, I saw a bunch of kids running toward him. They
ran at him, knocking all his books out of his arms and tripping him
so he landed in the dirt. His glasses went flying, and I saw them land in
the grass about ten feet from him. He looked up and I saw this terrible
sadness in his eyes. My heart went out to him. So, I jogged over
to him and as he crawled around looking for his glasses, I saw a tear
in his eye. As I handed him his glasses, I said, "Those guys are jerks.
They really should get lives." He looked at me and said, Hey thanks!"
There was a big smile on his face. It was one of those smiles that showed real
gratitude. I helped him pick up his books, and asked him where he lived. As
it turned out, he lived near me, so I asked him why I had never seen
him before. He said he had gone to private school before now. I
would have never hung out with a private school kid before. We talked all
the way home, and I carried his books. He turned out to be a pretty cool
kid. I asked him if he wanted to play football on Saturday with my
friends and me. He said yes.

We hung all weekend and the more I got to know Kyle, the more I liked him,
and my friends thought the same of him. Monday morning came, and there
was Kyle with the huge stack of books again. I stopped him and said,
"Boy, you are going to really build some serious muscles with this pile of
books
everyday!" He just laughed and handed me half the books.

Over the next four years, Kyle and I became best friends. When we
were seniors, we began to think about college. Kyle decided on
Georgetown, and I was going to Duke. I knew that we
would always be friends, that the miles would never be a problem. He was going
to be a doctor, and I was going for business on a football scholarship. Kyle
was
valedictorian of our class. I teased him all the time about being a nerd. He
had
to prepare a speech for graduation. I was so glad it wasn't me having
to get up there and speak. Graduation day came, and I saw Kyle.
He looked great. He was one of those guys that really found him during
high school. He filled out and actually looked good in glasses. He
had more dates than I had and all the girls loved him.

Boy, sometimes I was jealous. Today was one of those days. I could see
that he was nervous about his speech. So, I smacked him on the back and
said, "Hey, big guy, you'll be great!" He looked at me with one of those
looks (the really grateful one) and smiled. "Thanks," he said.
As he started his speech, he cleared his throat, and began.
"Graduation is a time to thank those who helped you make it through
those tough years. Your parents, your teachers, your siblings,
maybe a coach, but mostly your friends. I am here to tell all of you
that being a friend to someone is the best gift you can give him or her. I
am going to tell you a story."I just looked at my friend with
disbelief as he told the story of the first day we met. He had planned to kill
himself over the weekend.

He talked of how he had cleaned out his locker so his Mom wouldn't have to do
it later and was carrying his entire stuff home. He looked hard at me and
gave me a little smile. "Thankfully, I was saved. My  friend saved me from
doing the unspeakable." I heard the gasp go through the crowd as this
handsome, popular boy told us all about his weakest moment. I
saw his mom and dad looking at me and smiling that same grateful smile. Not
until that moment did I realize its depth.

Never underestimate the power of your actions. With one small gesture you can
change a person's life. For better or for worse. God puts us all in
each other's lives to impact one another in some way. Look for God
in others.

You now have two choices, you can:

(1) Pass this on to your friends or
(2) Delete it and act like it didn't touch your heart.

As you can see, I took choice number 1. "Friends are angels who
lift us to our feet when our wings have trouble remembering how to fly."
It's National Friendship Week. Show your friends how much you really
care.

Eleanor Roosevelt wrote: "Many people will walk in and out of
your life, but only true friends will leave footprints in your heart."

To handle yourself, use your head; to handle others, use your
heart.

 Anger is only one letter short of danger.

If someone betrays you once, it is his fault; if he betrays you twice, it is
your fault.

Great minds discuss ideas; Average minds discuss events; Small minds discuss
people.

He who loses money, loses much; He, who loses a friend, loses  much more; He,
who loses faith, loses all.

Beautiful young people are accidents of nature, but beautiful old people are
works of art.

Learn from the mistakes of others. You can't live long enough to make them
all yourself.

Friends, you and me....
you brought another friend....
and then there were 3.
 We started our group....
our circle of friends....
and like that circle....
there is no beginning or end.
 Yesterday is history...
Tomorrow's a mystery.
Today is a gift.

It's National Friendship Week. Show your friends how much you
care. Send this to everyone you consider a FRIEND. If
it comes back to you, then you'll know you have a circle of friends.

WHEN YOU RECEIVE THIS LETTER, YOU'RE REQUESTED
TO SEND IT TO AT LEAST 10 PEOPLE, INCLUDING THE PERSON
WHO SENT IT TO YOU.


what the fuck is tome?  bring it old man.  you will be winded by hand 17.


Reminder - Please give your updates to Dina as soon as you can.

Kay C. Young
Legal Specialist
Enron North America Corp.
713-853-6794 Phone
713-646-3393 Fax
kay.young@enron.com


I can fax you exactly what went out, but it's not possible to email the
confirm
with the Annex together because our confirm system doesn't house them
together.
I saved them separately:

From: Sara Shackleton@ECT on 03/28/2001 10:23 AM
To: Diane Anderson/NA/Enron@Enron
cc: Larry Joe Hunter/HOU/ECT@ECT

Subject: if possible, can you send the sample EOL confirm now?  I'd be most
appreciative.  Sara

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


=================================================
EREN NETWORK NEWS -- February 6, 2002
A weekly newsletter from the U.S. Department of Energy's (DOE)
Energy Efficiency and Renewable Energy Network (EREN).
<http://www.eren.doe.gov/>
=================================================

Featuring:
*News and Events
          President's Budget Supports Efficiency, Renewable Energy
          Budget Includes Tax Incentives for Renewables, CHP, Hybrids
          Alliant Energy Seeks Renewable Power Sources for Iowa
          DOE Awards More Than $500,000 for Metal Casting Research
          Explosion at FuelCell Energy Plant Delays Shipments
          New Energy Corporation Retracts Claim of Solar Contract

*Energy Facts and Tips
          EIA Issues U.S. Renewable Energy Maps

*About this Newsletter

----------------------------------------------------------------------
NEWS AND EVENTS
----------------------------------------------------------------------
President's Budget Supports Efficiency, Renewable Energy

President Bush released his administration's proposed
$2.13 trillion federal budget for fiscal year (FY) 2003 on
Monday. Although the budget emphasis is on the war on
terrorism and U.S. homeland security, the budget maintains
funding for energy efficiency and renewable energy
programs, while providing new tax incentives to encourage
the use of these technologies (see second story below). See
the full budget on the White House Web site at:
<http://www.whitehouse.gov/omb/budget/fy2003/>.

The proposed overall budget for DOE's Office of Energy
Efficiency and Renewable Energy (EERE), which funds this
newsletter and the EREN Web site, remains nearly steady,
increasing about 0.8 percent above FY 2002 funding levels.
Funding for renewable energy programs increases 5.5 percent
in the budget, with significant funding boosts for hydrogen,
hydropower, and solar building technology research and
development, as well as for programs that encourage
renewable energy use on Indian reservations and internationally.
However, the research budget for concentrating solar power
technologies suffers a cut of 86 percent.

Overall funding for energy efficiency programs decreases by
about 1.3 percent. The largest change is a budget increase
of 25 percent for the Federal Energy Management Program,
which helps the federal government reduce its energy use.
EERE estimates that the combined energy efficiency and
renewable energy programs, which cost about $1.3 billion
per year, will save the country between $76 billion and
$125 billion in energy costs by 2020.

See EERE's "Budget-in-Brief" on the EREN Web site at:
<http://www.eren.doe.gov/budget/budget_summary03.html>.

See also the "Renewable Energy Resources" and "Energy
Conservation" sections under the "Detailed Budget
Justifications" heading of DOE's budget request, posted at:
<http://www.mbe.doe.gov/budget/03budget/index.htm>.

In his announcement of the DOE budget, Secretary of
Energy Spencer Abraham specifically noted that the
proposed budget will support the President's commitment to
double funding for the Weatherization Assistance Program
over the next 10 years, and will provide roughly $150 million
for FreedomCAR, which aims to develop the infrastructure
and technologies needed for hydrogen-powered fuel-cell
vehicles. See the DOE press release at:
<http://www.energy.gov/HQPress/releases02/febpr/pr02016.htm>.

The administration's proposed budget is only the first step in
the budget process. Both the House and Senate will now
start working on a series of bills to set a budget and appropriate
funds. For FY 2002, for instance, the President's budget
originally proposed cutting funding for EERE, but as shown
in the budget documents cited above, funding for FY 2002
ended up higher than the previous year's funding. See the
news about last year's proposed budget in the April 11,
2001, edition of the EREN Network News at:
<http://www.eren.doe.gov/newsletter/archives/2001/apr11_01.html>.

Budget Includes Tax Incentives for Renewables, CHP, Hybrids

The President's budget for fiscal year 2002 includes
$9.1 billion in tax incentives over 10 years to encourage the
use of renewable energy, combined heat and power (CHP)
systems, and energy-efficient vehicles.

For power producers, the budget includes a new 10-percent
investment tax credit for qualifying CHP systems, an
extension of the tax credit for landfill methane power plants,
an extension of the production tax credit (PTC) through
2005, and an expansion of the PTC to include more biomass
energy facilities. The PTC provides renewable power
producers with a tax break of 1.5 cents per kilowatt-hour (in
1992 dollars, adjusted for inflation) and was formerly
applicable only to electricity produced from wind power,
poultry waste, and biomass power produced from dedicated
energy crops.

The PTC expired in December, leading to a slowdown in the
wind energy business. For example, Vestas Wind Systems
A/S shifted 1,200 employees to half-time work in January,
with the expectation that the slowdown will continue for
12 weeks. See the Vestas press release at:
<http://www.vestas.com/nyheder/presse/2002/UK/fond20020124_UK.html>.

The budget also includes a tax credit for the average
American -- people that install solar hot water or solar
electric systems on their homes would earn a tax credit of
15 percent of the cost of the systems, including installation.
The credit has a maximum of $2,000 per person for solar hot
water systems and another $2,000 per person for solar
photovoltaic systems.

People buying hybrid electric vehicles would also earn a tax
credit of up to $4,000, with the amount determined by both
the performance of the hybrid system and the vehicle's fuel
economy. When fuel-cell vehicles become available, they'll
earn an even higher tax credit -- at least $4,000 and up to
$8,000, depending on the vehicle's fuel economy.

And fuel producers don't get left out of the equation -- the
budget also proposes extending the tax credit and excise tax
exemption for ethanol and methanol from renewable
sources.

See pages 71-73, 80 and 99 (PDF pages 75-77, 84 and 103)
of the "Analytical Perspectives" section of the President's
budget at:
<http://www.whitehouse.gov/omb/budget/fy2003/>.

Alliant Energy Seeks Renewable Power Sources for Iowa

Alliant Energy announced in late January that it plans to add
enough renewable energy generating capacity in Iowa to
produce up to 150,000 megawatt-hours of electricity per year
-- enough to meet the annual power needs of more than
20,000 households. A wind power plant that produces power
one-third of the time would require a capacity of about
50 megawatts to generate that much electricity. The
company serves 464,000 electric customers in Iowa, and
intends to add the renewable power capacity by the end of
2003. The company has posted a request for proposals on
its Web site; proposals are due by April 2nd. See the Alliant
Energy press release, with a link to the request for
proposals, at:
<http://www.alliantenergy.com/news/news.php?issueID=237>.

DOE Awards More Than $500,000 for Metal Casting Research

DOE announced last week its award of $533,328 over three
years to a technical consortium, headed by the University of
Michigan in Ann Arbor, for research into ways to improve the
casting of light metal alloys. By studying how heat is
transferred between the mold casting and the metal, the
researchers hope to develop lighter, stronger, and less-
expensive molds. One aim of the research is to reduce the
amount of scrap and reworked materials in the aluminum
mold and die casting industry by eight percent. The
projected energy benefits in the metal casting industry alone
over the next ten years are estimated to be 36.6 trillion Btu
-- enough energy to power all the homes in Arkansas for a
year. See the DOE press release at:
<http://www.energy.gov/HQPress/releases02/febpr/pr02015.htm>.

Explosion at FuelCell Energy Plant Delays Shipments

An explosion racked the production line of FuelCell Energy's
manufacturing plant in Torrington, Connecticut, on January 14th,
slightly injured five employees. A buildup of solvent fumes
caused the explosion on the company's new "tape casting"
line, which is used to manufacture fuel cell components. The
company emphasized that the explosion was not caused by
hydrogen, nor was it caused by the operation of one of its
fuel cells.

FuelCell Energy has continued to assemble fuel cells at the
facility since the explosion, but is expecting delays of four to
six weeks in its fuel cell shipments. The company shut down
both tape-casting lines as a safety precaution, but expects to
restart the older line in mid-February. The new tape-casting
line was recently installed at a cost of $1.7 million. See
FuelCell Energy's Form 8-K filing with the Securities and
Exchange Commission (used to make investors aware of
any significant company events) on the company's Web site at:
<http://www.fce.com/site/investor/press/releases/2002/01_31_02.html>.

New Energy Corporation Retracts Claim of Solar Contract

New Energy Corporation announced last week that it had
mistakenly claimed to have a contract to deliver solar
electricity to Teixeira Farms of Santa Maria, California, and
that in fact no such contract exists. The company now claims
to have purchase orders from Distributed Power Systems for
the installation of four solar electric systems, each with a
generating capacity of one megawatt. The original story was
covered in the January 9th edition of the EREN Network
News:
<http://www.eren.doe.gov/newsletter/archives/2002/jan09_02.html>.

Since January 18th, the trading of New Energy stock has
been suspended by the U.S. Securities and Exchange
Commission over "questions involving the adequacy and
accuracy of public disclosures," in particular, "the value of
certain power generation contracts, the existence and size of
certain purchase orders for solar chips and its partner's
relationship with the Los Angeles Department of Water and
Power." Last week, Stratos Research, LLC, an investment
research firm, announced that it had suspended coverage of
New Energy and had removed its research report on the
company from its Web site, due to concerns that the report
"may contain factual errors." See all of the relevant press
releases by selecting "Press Release" on the New Energy
Web site at: <http://www.newenergyco.com/>.

----------------------------------------------------------------------
ENERGY FACTS AND TIPS
----------------------------------------------------------------------
EIA Issues U.S. Renewable Energy Maps

DOE's Energy Information Administration (EIA) completed a
new regional series of renewable energy maps last week.
The Renewable Energy Map series includes maps of each of
the nine U.S. census divisions, plus individual maps of
California, Alaska, and Hawaii. The maps attempt to indicate
all renewable energy resources in each region, and also
show the location of all renewable energy power plants with
a net summer capacity of 1 megawatt or more. See the EIA
Renewable Energy Maps at:
<http://www.eia.doe.gov/emeu/reps/remap/contents.html>.

----------------------------------------------------------------------
ABOUT THIS NEWSLETTER
----------------------------------------------------------------------
You can subscribe to this newsletter using the online form at:
<http://www.eren.doe.gov/newsletter/subscribe/>.
This Web page also allows you to update your email address
or unsubscribe to this newsletter.

The Energy Efficiency and Renewable Energy Network (EREN)
home page is located at <http://www.eren.doe.gov/>.

If you have questions or comments about this
newsletter, please contact the editor, Kevin Eber, at
kevin_eber@nrel.gov.


Enron in Action can be accessed through the new Community Relations web site at http://cr.enron.com/eia.html .  In this week's issue you will find out information regarding:

Enron Happenings
BEAR Holiday Fundraiser
2001 Holiday Shopping Card benefiting the American Cancer Society
Enron Kids 2001 Holiday Program
Support the Museum of Natural Science at the Crate & Barrel Opening Night Preview Party
Enron Night with the Houston Aeros
Free Carwashes for Enron Employees
American Heart Association "Heart Walk"

Enron Volunteer Opportunities
Volunteer for the 2001 Nutcracker Market "A World of Holiday Shopping"

Enron Wellness
CPR/First Aid Training
Mammogram Screening
November is Lung Cancer Awareness Month

Involved Employees
Par "Fore" Pets Golf Tournament

In addition, Enron in Action is available through a channel on my.home.enron.com.  To add this channel to your set-up click on the channels link at the top of the screen and under announcements check the Enron in Action box.

If you wish to add an announcement to Enron in Action, please fill out the attached form below and submit it to mailto:eia@enron.com no later than 12 PM Thursday each week.