Ken --

Investor's Business Daily would like to write a profile of you for their
"Leaders & Success" page.  The daily feature is a 1200-word profile with a
top executive about their keys to success and how they motivate people.   You
are scheduled to do a 45-minute telephone interview with David Saito-Chung,
IBD's markets writer, on Wednesday,
Nov. 29 at 1:30 p.m.  David said the goal of his story is to not just
describe what you have accomplished at Enron, but show how you achieved
success.  He is looking for specific examples and anecdotes that illustrate
Enron's vision and innovation.

David has submitted the following questions in advance of the interview:

What did critics say when Enron proposed to create a natural gas trading
market? How did you respond to their opinions? Why did you see an opportunity
while others didn,t?
You debated with people at the FERC on how the natural gas market should be
run. You also lobbied the government to change its rules that regulated the
natural gas industry. Was persistence the biggest key to your success in
those matters?
Tell me about the planning of EnronOnline. Whose idea was it? How did you
initially respond to it?
Why do you think EnronOnline has been so successful?
How do you view technology? What role has it played in Enron,s success?
Some publications have named Enron as having one of the best-quality
management teams of any company. Why?
How do you build and keep foster a strong managing team? How many people at
Enron have &CEO8 in their official business titles?
Why can you compete with major investment banks on Wall Street to get the
brightest business school graduates?
How does your company inspire employees to be creative and innovative?
Why was Enron the first to create risk management products for the paper
products industry and other industries?

As additional background, I've also attached the Leaders & Success feature on
GE's Jeffrey Immelt in today's paper.  I will come to your office at 1:30
tomorrow to place the call.

Thank you.
Karen

About Leaders & Success
We uncover what turned ordinary individuals into extraordinary leaders. These
motivational profiles reveal the techniques, philosophies and determination
that drive successful people to the top. Learn practical management
techniques and methods to move you ahead in your career. These are proven
models of success you won't want to miss.?

Leaders & Success
Tuesday, November 28, 2000
GE's Jeffrey R. Immelt
His Focus On The Customer Boosted Him To The Top
By Patrick Seitz
Investor's Business Daily
Jeffrey R. Immelt, the man chosen to succeed the legendary Jack Welch as
chief executive of General Electric Co., knows there's just one person
keeping him in business: the customer. And that customer is the person Immelt
goes all-out to please.
Immelt, 44, was plucked from the company's fast-growing GE Medical Systems
business, where he had served as president and chief executive since 1997.
The $7 billion unit, based in Waukesha, Wis., is a world leader in medical
diagnostic technology and information systems.
Immelt attributes much of his success to his laserlike focus on sales.
"I love working with customers. . . . Sales has really influenced everything
I do. It has instilled in me the important traits of operating with a sense
of urgency and listening to people," Immelt said.
Immelt on Monday was named president and chairman-elect of GE. He will
succeed John F. "Jack" Welch Jr., GE's chairman and CEO, when Welch retires
at the end of 2001.
When Immelt landed at GE Medical Systems in 1997, he quickly showed a knack
for squeezing growth from a unit known for sluggish sales. Last year, its
revenue jumped 23% to $6 billion.
Customers credit Immelt with going way beyond sales. When Chicago's
Northwestern Memorial Hospital expanded its scanning services last year,
Immelt spent hours helping to manage its work flow.
"That's the kind of collaboration that we find unusual," Northwestern
Memorial CEO Gary Mecklenburg told Business Week.
Immelt has proven himself both by turning around troubled GE divisions and
extracting better performance from thriving units.
Immelt knows how important it is to set the pace, not follow it. To keep GE
Medical flourishing, he's pushed the unit to expand acquisitions and new
product offerings. The division's product line ranges from ultrasound devices
used in doctors' offices to multimillion-dollar CT and MRI scanners.
In his earlier work in GE's Plastics division, Immelt stood out by persuading
hard-boiled carmakers to substitute plastics for metal on some parts.
As vice president of consumer service for GE's Appliances division, Immelt
deftly handled the fallout from a recall of refrigerator compressors. To keep
workers' morale pumped up during the recall, Immelt would often climb up on a
forklift in GE's Louisville, Ky., plant and pass out words of encouragement
and praise. He took time to speak with employees during such sessions,
listening carefully to their ideas and concerns.
Immelt believes that open, fast communication with workers is crucial. Not a
table-thumper, he meets with employees ) sometimes hundreds at a time ) to
discuss where GE Medical is going. Colleagues say he works at
consensus-building, urging others to understand different points of view.
After returning from corporate meetings, Immelt distills the latest GE
thinking on videotape, and copies are sent to offices around the world.
Understanding that seeing someone face to face helps foster stronger
relationships, Immelt also travels often to meet employees and customers.
Constant contact keeps a company united, Immelt believes. So he updates the
company's employees once a week via e-mail on the latest developments ) new
business, lost sales opportunities and other nuggets about company
initiatives. E-mail is sent in five languages, and at times up to a dozen,
according to the Milwaukee Journal Sentinel.
Immelt was one of three GE executives who analysts considered possible
successors to Welch. Welch, 65, has been at the helm of the Fairfield,
Conn.-based finance, industrial and broadcasting powerhouse for the past two
decades.
"Jeff Immelt is a natural leader, and ideally suited to lead GE for many
years," Welch said. "He brings a keen strategic intellect, a cutting-edge
technological background, strong leadership characteristics and a unique set
of team-building skills."
Knowing that preparation is key to long-term success, Immelt has long been
preparing himself, says Charles M. Lillis, a former GE executive who hired
Immelt in 1982.
"Starting in high school, (in) everything he did he was a leader," Lillis
told the Milwaukee Journal Sentinel. "He played football. He was a student
leader. He went to Procter & Gamble after college and he did a great job in
sales. He also had the right balance of self-confidence and awareness that he
did not know everything."
Immelt has strong marketing skills and helped create the GE slogan, "We bring
good things to life," in his first job at GE.
Analysts and friends say the 6-foot, 4-inch Immelt possesses not only a
commanding physical presence but also the intellectual strength necessary to
inspire management and workers at GE. Immelt believes that a consistent
approach will give the biggest pay off.
He's been with GE practically all of his working life, just as his father,
Joseph, before him. His father spent his 38-year career at GE working in the
Aircraft Engine division in Cincinnati.
Immelt has a good sense of humor and the ability to present himself well to
both Wall Street and the average worker, much like Welch.
Immelt realizes that humor helps ease conversation, forge bonds and motivate
people. He saw that as an offensive tackle for Dartmouth College's football
team in the 1970s.
Immelt wanted to keep football practice fun to keep his fellow players fired
up. Immelt came up with gags, including a tongue-in-cheek award for the coach
of the week. He liked to loosen up the team with jokes on the sidelines and
in the huddle, according to teammates.
Despite the fun and games, his teammates could see Immelt's drive. "When the
rest of us were feeling our way through college, he took it to the next
level," former teammate Curt P. Oberg told Business Week.
Immelt studied just as hard as he played. He graduated cum laude with his
B.S. degree in applied mathematics from Dartmouth and an MBA from Harvard
University.
He joined GE in 1982 after a short stint with Procter & Gamble Co. as a brand
manager. His first job with GE was in corporate marketing. That was followed
by sales, marketing and management positions in the company's plastics and
appliances divisions.
When Immelt took over at GE Medical Systems in 1997, one of his first actions
was to oversee an internal management shake-up.
"He is an extremely capable executive leader, as evidenced by his record as
CEO of GE Medical Systems," analyst Martin Sankey, vice president of Goldman,
Sachs & Co. in New York told The Associated Press. "He compiled a strong
record of generating growth and moving into new markets."
GE Medical Systems has seen profit rise as demand for big-ticket medical
imaging and patient-monitoring gear has grown.
"Immelt clearly runs the best business at GE-GE Medical," Bill Fiala, an
analyst at Edward Jones, told Reuters. "He's taken it international, and he's
done a fantastic job designing new products and capturing market share."
He's a disciple and expert of Six Sigma, the quality movement that has been
made almost a religion at GE. Six Sigma is a complex, highly statistical
quality program that Welch wants as his legacy.
To make sure he understood the program, Immelt immersed himself in the study
of Six Sigma. Relying on his background in mathematics, he worked out
probabilities by using solid statistical research.
GE's next chief will replace an executive who has become a poster boy for
American-style capitalism. Welch's relentless focus on profit and market
share ) and GE's evolution from basic manufacturing to the service sector and
technology ) has been dissected by corporate managers and studied by business
schools.

, Investor's Business Daily, Inc. 2000. All Rights Reserved.
Reproduction or redistribution is prohibited.
For reprints, call Scoop Media Services (800)


Jaime:
Here is a message that I received from our counsel.  Again, I and they are
just focusing on the Enron Online issues and Sara is handling the issues
relating to doing transactions offline between Enron Mexico and the Mexican
counterparties.  I will suggest to our counsel that we have a call mid next
week involving you, me and them.  What is your availability on Wednesday?
Alos, who from credit are you dealing with and are they aware that we
probably will not be able to in a bankruptcy situation offset amounts owed
with respect to the online and offline transactions?

Jeff:
Are there any tax issues that we need to be concerned about regarding the
online piece of this?
Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 06/30/2000 11:00 AM -----

	Carol St Clair
	06/30/2000 08:05 AM

		 To: Mark Taylor/HOU/ECT@ECT, David Forster/Corp/Enron@Enron
		 cc:
		 Subject: Re: Update

Mark and David:
Here is the status of research our counsel in Mexico is doing re online
issues.
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 06/30/2000 08:04 AM -----

	"Pablo Perezalonso" <pperezalonso@rhm.com.mx>
	06/29/2000 07:41 PM

		 To: Carol.St.Clair@enron.com
		 cc:
		 Subject: Re: Update

Carol:

We are working on the questionaire, but we have been delayed. We will have an
initial draft by the middle of next week.

Regards

>>> "Carol St Clair" <Carol.St.Clair@enron.com> 06/29/00 04:41PM >>>

Pablo and Jose:
Could one of you e-mail me with an update of how your review of the online
issues and documents is going and when we may be able to visit about your
views
on these matters?  Thanks.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Hi Lyn:

I have not received an answer for the below request for another Sun
computer.  Did you get it?

We also need to order another regular computer like the others that have
been supplied to the Research Group.  It will be for Tanya Tamarchenko
and her location on the 19th floor is EB 1940.  Tanya has two offices and
does not have a computer in her office on the 19th floor.

Co# 0011 - RC# 100038

Thanks!

Shirley Crenshaw

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 01/17/2000
03:39 PM ---------------------------

Shirley Crenshaw
01/12/2000 11:14 AM
To: Lyn Malina/HOU/ECT@ECT
cc:
Subject: Sun Computer

Hi Lyn;

The Research Group is in need of another Sun Computer to be located at
EB1951.  Please let me know that ETA.

CO. # 0011 - RC# 100038

Thanks!

Shirley
3-5290

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 01/12/2000
11:10 AM ---------------------------

Shirley Crenshaw
01/07/2000 01:49 PM
To: Lyn Malina/HOU/ECT@ECT
cc: William Smith/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Alex
Huang/Corp/Enron@ENRON
Subject: New PC

Hi Lyn:

Alex Huang has requested a new PC and Vince Kaminski has ok'd it.  Please
order the computer as listed below in Alex's request.

Thanks!

Shirley
3-5290

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 01/07/2000
01:48 PM ---------------------------

Vince J Kaminski
01/07/2000 12:12 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT, Alex
Huang/Corp/Enron@ENRON
Subject: New PC

Shirley,

OK.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/07/2000
12:02 PM ---------------------------

Alex Huang@ENRON
01/07/2000 08:28 AM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT
Subject: New PC

Hi Shirley,
I would like to request for a new PC.  My current PC is quite old with not
enough memory.  Twice
I ran out of memory and had to have IT people coming to clean it for me.
Their suggestion is
to either get a new hard drive or a new PC.  Given that Dell has Pentiumc III
Processor at 800 MHz
on market, I would like to request a PC with process at 500 MHz or higher
level.
Thank you very much.

Best,
Alex


Greetings.  Hope all is well.  Trade you energy for broadband.  Whaddya say?

Best,
Jeff


Per Lisa Yoho and Linda Robertson's request, I've scheduled a conference call for Tuesday, September 11 at 3:00 p.m. CST to discuss MTR and the Bingaman Bill.
The toll free numbers are listed below. Please let me know if you will not be able to participate.
DATE: Tuesday, September 11
TIME: 3:00 P.M. CST (9:00 P.M. London time)
TOLL FREE: 1-800-998-2462 for Houston and Washington participants
703-736-7230 for London participant
PASS CODE: 5522210
Geriann Warner
Global Government Affairs
EB 4740C
713.853.5036 - Phone
713.853.7297- Fax


Critical Migration Information: Please note your migration date did NOT appear in your previous e-mail. Please reprocess your information on your migration date: April 18th. We apologize for any incovenience this may have caused.

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If you encounter any errors please contact the resolution center @ 713-853-1411


---------------------- Forwarded by Eric Bass/HOU/ECT on 09/05/2000 02:56 PM
---------------------------

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/05/2000 01:42:17 PM
To: jason <jason.bass2@compaq.com>
cc: eric preston bass <Eric.Bass@enron.com>
Subject: Fw: How to impress a client.

----- Original Message -----
From: "Frank Marsters" <marstersco@earthlink.net>
To: "Russ Mathews" <revmathews@aol.com>; "Rocky Lane" <rlane@pdq.net>;
"Harris, Mary S." <mharris-hudson@WCITX.COM>; "dholley"
<dholley@mail.ev1.net>; "Day, Pam" <pkjday@yahoo.com>; "Bass, Larry"
<lwbthemarine@bigplanet.com>; "Balch, Dell" <dellbalch@hotmail.com>; "Adams,
George" <geoins@flash.net>
Sent: Tuesday, September 05, 2000 1:20 PM
Subject: Fw: How to impress a client.

>
> ----- Original Message -----
> From: fred williams <pilgrim@gvec.net>
> To: frank marsters <marstersco@earthlink.net>; mike williams
> <mwwilliams@tomball.isd.esc4.net>
> Sent: Thursday, August 31, 2000 8:20 PM
> Subject: FW: How to impress a client.
>
>
> >
> >
> > -----Original Message-----
> > From: Calvin Waller [mailto:candk@gvec.net]
> > Sent: Thursday, August 31, 2000 7:27 PM
> > To: Fred Williams
> > Subject: Fw: How to impress a client.
> >
> >
> >
> > -----Original Message-----
> > From: BONNIE VERNOR <vernorb@gvec.net>
> > To: kathy waller <candk@gvec.net>
> > Date: Wednesday, August 30, 2000 2:20 PM
> > Subject: Fw: How to impress a client.
> >
> >
> > >
> > >----- Original Message -----
> > >From: "Ross Smith" <smith856@intergate.com>
> > >To: "Bonnie Vernor" <vernorb@gvec.net>; "Cindy Smith"
> > ><constmst@intergate.com>; "Crockett TM (Trudy)" <crocketm@ucarb.com>;
> "Don
> > >Cotter" <donone@wt.net>; "John Phillips" <jpandjp@gateway.net>;
"Kristie
> > >Boudreaux" <krisboo@prodigy.net>; "Wes Risinger" <risinger@pdq.net>
> > >Sent: Wednesday, August 30, 2000 11:43 AM
> > >Subject: How to impress a client.
> > >
> > >
> > >> Subject: Fw: How To Impress a Client
> > >> > >  >
> > >> > >  >
> > >> > >  >
> > >> > >  > I was in the VIP lounge last week en route to Seattle. Whilst
in
> > >> the
> > >> > >  > lounge, I noticed Bill Gates sitting on the chesterfield
> enjoying
> > >> a
> > >> > >  > cognac. I was meeting with a very important client who was
also
> > >> > flying
> > >> > to
> > >> > >  > Seattle with me but she was running a bit late. Being a
forward
> > >> type
> > >> > of
> > >> > >  > guy, I approached Mr. Gates and introduced myself. I explained
> to
> > >> him
> > >> > > that
> > >> > > I
> > >> > >  > was conducting some very important business and how I would
> > >> > appreciate
> > >> > it
> > >> > >  > if he could throw a quick  "Hello Chris" at me when I was with
> my
> > >>
> > >> > client.
> > >> > >  > He agreed. Ten minutes later while I was conversing with my
> > >> client, I
> > >> > >  > felt a tap on my shoulder. It was Bill Gates. I turned around
> and
> > >>
> > >> > looked
> > >> > >  > up at him. He said, "Hi Chris, what's happening?" To which I
> > >> replied
> > >> > >  > "Fuck off Gates, I'm in a meeting"
> > >>
> > >
> >
> >
>


Gentlemen -

As a follow-up to my voice mail, attached are scanned copies of (1) the GOM
Guarantee demand letter and (2) a separate letter to the GOI re same.  The
separate letter to the GOI is a requirement under the GOI Guarantee.

We are required to wait 7 days from the date of the GOM Guarantee demand
letter before serving the GOI Guarantee demand letter.  I believe that we
will serve the GOI Guarantee demand letter as soon as we are able to do so
this coming week.

Bruce

---------------------- Forwarded by Bruce Lundstrom/ENRON_DEVELOPMENT on
01/27/2001 10:56 AM ---------------------------

Chandran Bhaskar
01/25/2001 09:13 AM
To: Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James A
Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gail
Brownfeld/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, cwalker@linklaters.com,
mkeats@linklaters.com, lbrasher@skadden.com
cc:

Subject: DPC - Invocation of GoM Guarantee

SUB : DPC - Guarantee of the State of Maharashtra

Please find attached:

Letter dated 25 January 2001 submitted this evening to the Government of
Maharashtra, invoking the guarantee and

Letter dated 25 January 2001 addressed to the Ministry of Finance, Government
of India. This letter will be submitted on Monday, 29 January 2001 as
Ministry of Finance is closed from this afternoon till Sunday on account of
Republic Day.

Regards,

Bhaskar


Neil left to go hunting this am, Paige leaves for school tomorrow, leaving
me, Michael and our new puppy (mid life crisis dog) to our own devices.  I'm
taking the day off tomorrow, and Monday is an Enron holiday, so I'm looking
forward to some Kay time, working in the yard (weather permitting), watching
Oprah, etc.

ANDREA DOWLEN <nene77057@yahoo.com> on 01/11/2001 09:08:36 AM
To: Kay.Mann@enron.com
cc:

Subject: Re: HAPPY BIRTHDAY!

Boys............whatcha gonna do?
They love that stuff.........
Missy, our friend Susie, and I went to the usual Elvis
impersonator thing at Chuy's on Richmond Monday night.
Walked into a full force cat fight on the way in...one
girl screaming Lesbian at the top of her lungs, and
dropping the "C" bomb all over the girl she was
beating up. Waiters had to get them out of the place
and into the parking lot.  Very exciting.
Dinner with family and Dad's widowed friend Claude,
and his daughter Lisa who we have known forever.  Good
folks.
Any plans for you?

--- Kay.Mann@enron.com wrote:
>
> Thanks.  Did you have a good one?  Michael was all
> "cracked up" over the
> card you sent!!
>
> Kay
>
>
>
>
> ANDREA DOWLEN <nene77057@yahoo.com> on 01/11/2001
> 08:28:27 AM
>
> To:   Kay.Mann@enron.com
> cc:
>
> Subject:  HAPPY BIRTHDAY!
>
> KAY - HAPPY BIRTHDAY!
> I HOPE YOU HAVE A GREAT DAY AND RECEIVE A LOT OF
> GOODIES??????!!!!!!!!!!!!!!
> LOVE,
> ANDREA
>
> =====
> Andrea Dowlen
>
> __________________________________________________
> Do You Yahoo!?
> Yahoo! Photos - Share your holiday photos online!
> http://photos.yahoo.com/
>
>
>
>
>

=====
Andrea Dowlen

__________________________________________________
Do You Yahoo!?
Yahoo! Photos - Share your holiday photos online!
http://photos.yahoo.com/


The original message was received at Fri, 23 Mar 2001 10:37:51 -0800
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Subject: I'm Leaving Enron
To: David_Aamodt@pgn.com, dapnucc@teleport.com, dick@pnucc.org,
        seabron.adamson@frontier-economics.com, Frank_Afranji@pgn.com,
        raa@vnf.com, Joseph.Alamo@enron.com, ajaldrich@snopud.com,
        Jeff.Alexander@enron.com, Al.Alexanderson@enron.com,
        Keonee.Almaida@enron.com, hollis.alpert@ferc.fed.us,
        Brenda.Anderson@enron.com, angles@howry.com,
        Alan.B.Aronowitz@enron.com, gdb@vnf.com, npbaker@bpa.gov,
        ellen@tca-us.com, paulb@citizenspower.com, paulb@citizenspower.com,
        garybarbour@email.msn.com, jbartus@cammckenna.com,
        glynda.becker@mail.house.gov, Samuel.Behrends@enron.com,
        bbennett@bpa.gov, sberman@hewm.com, ramsen.betfarhad@mail.house.gov,
        KBILAS@SKADDEN.COM, sbooye@SKADDEN.COM, raymond.r.boyce@state.or.us,
        tbradley@bracepatt.com, scott.brattebo@pacificorp.com,
        sbrose@steptoe.com, sbuchheit@bracepatt.com, alanb@wutc.wa.gov,
        Jim.Byrne@enron.com, vergil.cabasco@mail.house.gov,
        johncameron@dwt.com, Doug.Carmichael@enron.com, Ed.Cassidy@enron.com,
        ajchambe@llgm.com, Melissa.Chiechi@enron.com,
elchristensen@snopud.com,
        kevin.clark@ci.seattle.wa.us, rcloward@avistacorp.com,
        david_cohen@rniinc.com, Bill.Comish@enron.com,
        Victor.Contract@enron.com, powerlac@aol.com,
        Frederick.Coolbroth@enron.com, michaelcorrigan@BCHydro.bc.ca,
        kcorum@nwppc.org, KCurry@bracepatt.com, wcurry@enron.com,
        gdahlke@paine-hamblen.com, kadaly@mcimail.com, mday@gmssr.com,
        dearing@chelanpud.org, tdeboer@paine-hamblen.com,
        Tom_Delaney@enron.com, sdleonard@earthlink.net, dldorrell@stoel.com,
        Mary.Doyle@enron.com, Jay.Dudley@enron.com, mce2280@idahopower.com,
        michaelearly@earthlink.net, Katherine.Edwards@enron.com,
        rle@givenspursley.com, imaxtrans@aol.com, Chris.Elliott@enron.com,
        sandra.elliott@ferc.fed.us, kerwin@ect.enron.com, dezickson@mwe.com,
        Jim.Fallon@enron.com, fallonr@howrey.com, Elias.Farrah@enron.com,
        Michele_Farrell@pgn.com, dfaulk@puget.com, gfergus@brobeck.com,
        Willard.Fields@enron.com, sfisher@avistaenergy.com,
pfox@bracepatt.com,
        Pat.Franklin@enron.com, John.Frazzell@enron.com,
        ericf@prestongates.com, don.furman@pacificorp.com, segfurst@bpa.gov,
        Jackie.Gallagher@enron.com, craiggannett@dwt.com,
        Alvaro.Garcia@enron.com, sbishop@gibbs-bruns.com, wgibson@nwppc.org,
        ggilbert@ci.tacoma.wa.us, Pat.Gilman@enron.com,
        Alex.Goldberg@enron.com, jlgreene@energyadvocates.com,
        Chris_Groener@mail.house.gov, Mary.Groggin@enron.com,
        Mark.E.Haedicke@enron.com, Stephen.Hall@enron.com,
        steve.c.hall@enron.com, Leo.Hamblin@enron.com, whannaford@nwppc.org,
        jim.harding@ci.seattle.wa.us, rhardy@hardyenergy.com,
kharri@puget.com,
        Steve_Hawke@pgn.com, dhawkins@caiso.com, marc.hellman@state.or.us,
        Scott.Helyer@enron.com, mhenry@bracepatt.com, dwmp@teleport.com,
        rhornby@tca-us.com, mhornst@aol.com, dhuard@jmbm.com,
        Marlene.Huntsinger@pgn.com, cfi1@tca-us.com,
        Richard.Ingersoll@enron.com, pljacklin@stoel.com, montrey@aol.com,
        danj@cfmdc.com, kgjohnson@bpa.gov, ljohnson@pwrteam.com,
        Karen.E.Jones@enron.com, mkanner@kannerandassoc.com,
        karid@perkinscoie.com, pkaufma@ect.enron.com, Paul.Kaufman@enron.com,
        Jeffrey.Keeler@enron.com, Devon Kehoe <devon_kehoe@mentorg.com>,
        James.Keller@enron.com, Joe.Kelliher@mail.house.gov,
kkennedy@bdbc.com,
        Rick.Kessler@enron.com, rdking@bpa.gov, Harry.Kingerski@enron.com,
        Harry.Kingerski@enron.com, rsk@schwabe.com, gwilliams8@austin.rr.com,
        John.Klauberg@enron.com, Holli.Krebs@enron.com, ekrogh@wiredweb.com,
        blafferty@avistacorp.com, wdlamb@bpa.gov, John.Lamb@enron.com,
        Therese.Lamb@enron.com, srlarson@bpa.gov,
        Cindy_Tatham@co.washington.or.us, zora.lazic@BCHydro.bc.ca,
        kaleathley@bpa.gov, pamela_lesh@pgn.com, Debi.LeVine@enron.com,
        lcg@europa.com, doug.little@BCHydro.bc.ca, Robert.Loeffler@enron.com,
        Chris.Long@enron.com, sjlong@bpa.gov, rlopezv@conet.com.mx,
        david_lucio@iep.illinova.com, king.lum@BCHydro.bc.ca,
        kevin.lynch@pacificorp.com, Mark.Maehr@enron.com,
        Randal.T.Maffett@enron.com, John.Malowney@enron.com,
        Sueyen.Mao@enron.com, Susan.J.Mara@enron.com, Susan.J.Mara@enron.com,
        Lee.Martin@enron.com, maurw@perkinscoie.com, Wayne.Mays@enron.com,
        Michael.McCall@enron.com, Sandra.McCubbin@enron.com,
        Travis.McCullough@enron.com, Michael.McDonald@enron.com,
        brugen@erols.com, mckinley@wpuda.org, mcm@vnf.com, mcnichol@wapa.com,
        shauna@pnucc.org, Maureen.McVicker@enron.com, pmeringolo@brobeck.com,
        demetcalf@bpa.gov, cemeyer@bpa.gov, jmilegich@sppc.com,
        fred_miller@pgn.com, Jeffrey.Miller@enron.com,
        jerry.miller@pacificorp.com, Laura.Miller@enron.com,
        scott.miller@ferc.fed.us, Bill.Miner@enron.com,
        phil_moeller@gorton.senate.gov, pmohler@hewm.com, emoler@velaw.com,
        nkmorgado@bpa.gov, Mike@tonkon.com, krmoxness@bpa.gov,
        mmps@millcreeklaw.com, pmurphy@mbllp.com, terrym@millcreeklaw.com,
        bmurtha@acy.sunint.com, Rich.Nassief@enron.com, tod@mgninc.com,
        Douglas_Nichols@pgn.com, Patty.Nichols@enron.com,
        Christi.Nicolay@enron.com, tmnoguchi@bpa.gov, darcy@tonkon.com,
        Sarah.Novasel@enron.com, Sarah.Novosel@enron.com,
        Tom.O'Donnell@enron.com, PObenchain@idahopower.com,
        Pegy.Olds@enron.com, Carol.Opatrny@enron.com, tpaine@avistacorp.com,
        Dave.Parquet@enron.com, bpascoe@mtpower.com, afpaschke@bpa.gov,
        ccperigo@bpa.gov, wlpernas@stoel.com, lpeters@pacifier.com,
        jill@pnucc.org, Mona.L.Petrochko@enron.com, npickover@bracepatt.com,
        Phillip.Platter@enron.com, Alfred.Pollard@enron.com,
        Walt.Pollock@enron.com, gporter@sppc.com, Kevin.M.Presto@enron.com,
        jquint@puget.com, arlene.ragozin@ci.seattle.wa.us, maraschio@bpa.gov,
        Dale.Rasmussen@enron.com, Scott.Rasmussen@enron.com,
        Bobby.Reeves@enron.com, preiten@pngc.com, reyna2r@kochind.com,
        shellyr@pacifier.com, Jeff.Richter@enron.com, raroach@bpa.gov,
        atrodrigues@bpa.gov, rarogers@bpa.gov, peterroi@erols.com,
        Rothfelder@rlo-law.com, Richard.Sanders@enron.com,
jsaven@pacifier.com,
        Michael.Schilmoeller@enron.com, jschlect@avistacorp.com,
        Sabine.Schnittger@frontier-economics.com, Diana.Scholtes@enron.com,
        Roger.Seifert@enron.com, Cara.Semperger@enron.com,
        asettanni@bracepatt.com, Richard.Shapiro@enron.com, vsharp@enron.com,
        msmith1@enron.com, Joshua.Sheinkman@enron.com, jshurts@nwppc.org,
        Sid@enron.com, msizer@ci.tacoma.wa.us, slavens.paula@deps.ppl.com,
        small@wrightlaw.com, small@wrightlaw.com, douglas.smith@ferc.fed.us,
        Mike.Smith@enron.com, Roger.Smith@enron.com,
        Larry.Soderquist@enron.com, Harvey.Spigal@enron.com,
        mstauffer@mtpower.com, James.D.Steffes@enron.com,
        James.D.Steffes@enron.com, mestewardpsedc@worldnet.att.net,
        JKStier@bpa.gov, rbstrong@paine-hamblen.com, DASwanstrom@Verner.com,
        Mike.Swerzbin@enron.com, tabors@tca-us.com, Ron.Tapscott@enron.com,
        James.K.Tarpey@enron.com, Jake.Thomas@enron.com,
        ryan_thomas@burns.senate.gov, jrt2058@idahopower.com,
        maryann@pnucc.org, mtierney@sempra.com, robin_tompkins@pgn.com,
        Ann.Tumlinson@enron.com, AW.Turner@enron.com, Sheila.Tweed@enron.com,
        Lisa.Urick@enron.com, rvermeers@avistacorp.com,
        Frank.W.Vickers@enron.com, John.Walley@enron.com,
        kristiwallis@sprintmail.com, walshl@howrey.com, swalton@enron.com,
        Steve.Walton@enron.com, kaward@bpa.gov, Kim.Ward@enron.com,
        Carol.Wardell@enron.com, dwatkiss@bracepatt.com, sawatson@bpa.gov,
        judy.welch@NWPP.ORG, 211-6155@mcimail.com, Kwenzel@zzz.com,
        cwestadt@sppc.com, Brian.Whalen@enron.com, Bill.Williams@enron.com,
        klwmtp@worldnet.att.net, lyn_williams@pgn.com, Greg.Wolfe@enron.com,
        Vickie.Wolk-Laniewski@enron.com, Ed.Wood@enron.com, mwood@stoel.com,
        Steve.Wright@enron.com, Teresa.L.Wright@enron.com, WSCC@enron.com,
        Charles.Yeung@enron.com, Christian.Yoder@enron.com,
        Steven.J.Kean@enron.com, Steve.Kean@enron.com,
        Travel.in.the.Park@enron.com, D.Brett.Hunsucker@enron.com,
        Carla.Hoffman@enron.com, Bernadette.Hawkins@enron.com,
        Joe.Hartsoe@enron.com, Donna.Fulton@enron.com, Roger.Fragua@enron.com,
        James.B.Fallon@enron.com, Michael.Etringer@enron.com,
        Terry.W.Donovan@enron.com, Stacy.Dickson@enron.com,
        Ginger.Dernehl@enron.com, Rhonda.L.Denton@enron.com,
        Jeff.Dasovich@enron.com, Sean.Crandall@enron.com,
Tom.Briggs@enron.com,
        t.briggs@enron.com, Stacey.Bolton@enron.com, dbenevid@enron.com,
        dbenevid@enron.com, Tim.Belden@enron.com, Robert.Badeer@enron.com,
        Phillip.K.Allen@enron.com, Alan.Comnes@enron.com, Lysa.Akin@enron.com,
        Portland.West.Desk@enron.com, assad@elektro.com.br,
        Alan.Comnes@enron.com, Alberto.Levy@enron.com, Aleck.Dadson@enron.com,
        Allison.Navin@enron.com, Amy.Fabian@enron.com,
        Barbara.A.Hueter@enron.com, Bernadette.Hawkins@enron.com,
        Bill.Moore@enron.com, cristinah@elektro.com.br,
        Carlos.Gustavo.Azevedo@enron.com, Carmen.Perez@enron.com,
        Carolyn.Cooney@enron.com, Charles.Yeung@enron.com,
        Chauncey.Hood@enron.com, Chris.Long@enron.com,
        Christi.L.Nicolay@enron.com, Cynthia.Sandherr@enron.com,
        Damon.Harvey@enron.com, Dan.Staines@enron.com,
        Daniel.Allegretti@enron.com, Dave.Mangskau@enron.com,
        Donald.Lassere@enron.com, Donna.Fulton@enron.com,
        Eidy.Catala@enron.com, Elizabeth.Linnell@enron.com,
        Frank.Rishe@enron.com, Geriann.Warner@enron.com,
        Ginger.Dernehl@enron.com, Gisele.S.Braz@enron.com,
        Gloria.Ogenyi@enron.com, Guillermo.Canovas@enron.com,
        Harry.Kingerski@enron.com, Howard.Fromer@enron.com,
        James.D.Steffes@enron.com, Janine.Migden@enron.com,
        Javier.Pantoja@enron.com, Jean.R.Dressler@enron.com,
        Jean.Ryall@enron.com, Jeff.Brown@enron.com, Jeff.Dasovich@enron.com,
        Jeffrey.Keeler@enron.com, Joao.Paixao@enron.com, Joe.Allen@enron.com,
        Joe.Connor@enron.com, Joe.Hartsoe@enron.com, Joe.Hillings@enron.com,
        Jose.Bestard@enron.com, Joseph.Alamo@enron.com,
        Kathleen.Sullivan@enron.com, Kerry.Stroup@enron.com,
        Kikumi.Kishigami@enron.com, Kirsten.Bellas@enron.com,
        Lara.Leibman@enron.com, Laurie.Knight@enron.com,
        Leslie.Lawner@enron.com, Linda.J.Noske@enron.com,
        Linda.Robertson@enron.com, Lindsay.Meade@enron.com,
        Lisa.Yoho@enron.com, Lora.Sullivan@enron.com, Luiz.Maurer@enron.com,
        Lysa.Akin@enron.com, Marchris.Robinson@enron.com,
        Marcia.A.Linton@enron.com, Marcie.Milner@enron.com,
        Mary.Hain@enron.com, Maureen.McVicker@enron.com,
        Melinda.Pharms@enron.com, Michelle.Belzak@enron.com,
        Mona.L.Petrochko@enron.com, Nancy.Hetrick@enron.com,
        Patrick.Keene@enron.com, Ray.Alvarez@enron.com,
        Rebecca.W.Cantrell@enron.com, Ricardo.Charvel@enron.com,
        Richard.Ingersoll@enron.com, Richard.Shapiro@enron.com,
        Robert.Frank@enron.com, Robert.Hemstock@enron.com,
        Robert.Neustaedter@enron.com, Robin.Kittel@enron.com,
        Ron.McNamara@enron.com, rboston@enron.com, Rubena.Buerger@enron.com,
        Sandra.McCubbin@enron.com, Sarah.Novosel@enron.com,
        Scott.Bolton@enron.com, Sergio.Assad@enron.com, Stella.Chan@enron.com,
        Stephen.D.Burns@enron.com, Steve.Montovano@enron.com,
        Steve.Walton@enron.com, Steven.J.Kean@enron.com, Sue.Nord@enron.com,
        Susan.J.Mara@enron.com, Susan.M.Landwehr@enron.com,
        Terri.Miller@enron.com, Thane.Twiggs@enron.com, Tom.Briggs@enron.com,
        Tom.Chapman@enron.com, Tom.Delaney@enron.com, Tom.Hoatson@enron.com,
        Tracy.Cooper@enron.com, Valeria.Lima@enron.com,
Vinio.Floris@enron.com,
        Xi.Xi@enron.com, Steven.J.Kean@enron.com, Jeffrey.Keeler@enron.com,
        Christi.L.Nicolay@enron.com, Sarah.Novosel@enron.com,
        Robert.Frank@enron.com, Lara.Leibman@enron.com,
        Gloria.Ogenyi@enron.com, Richard.Shapiro@enron.com,
        Leslie.Lawner@enron.com, Paul.Kaufman@enron.com,
        Aleck.Dadson@enron.com, Daniel.Allegretti@enron.com,
        Howard.Fromer@enron.com, Joe.Hartsoe@enron.com, rboston@enron.com,
        Janine.Migden@enron.com, Christie.Patrick@enron.com,
        Jane.Wilson@enron.com, Rhonda.L.Denton@enron.com,
        kmagruder@newpower.com, scovino@newpower.com,
Rebecca.Carter@enron.com,
        Shelley.Corman@enron.com, Janet.Butler@enron.com,
        Kevin.M.Presto@enron.com, Brad.Richter@enron.com,
Greg.Piper@enron.com,
        Kevin.McGowan@enron.com, Kim.Ward@enron.com, Leslie.Reeves@enron.com
Date: Fri, 23 Mar 2001 10:24:18 -0800
Message-ID: <OFCFA12BE4.1A65CFD4-ON88256A0F.00666A9C@enron.com>
X-MIMETrack: Serialize by Router on ENE-MTA01/Enron(Release 5.0.6 |December
14, 2000) at
 03/23/2001 12:29:04 PM
MIME-Version: 1.0
Content-type: text/plain; charset=us-ascii
content-length: 375

I am going to be the Senior Regulatory Counsel at ISO New England starting
on April 9, 2001.   My last day in the Portland area will be March 31,
2001.  I enjoyed working with you and wish you the best of everything.  My
new address will be:

Mary Hain
Senior Regulatory Counsel
ISO New England Inc.
One Sullivan Road
Holyoke, MA  01040-2841
(413) 535-4000
mhain@ISO-NE.com


Looks good, Mark.  Two quick questions/thoughts:
1. In 4., "following the discovery of a material defect shall terminate its
access..." Why? It probably does not hurt us if they continue to use the
site, and if it did hurt us, we would have the right to terminate the test as
per 5.  Do we want the explicit right to temporarily suspend the test,
anticipating a resumption--less harsh than termination.
2. In 2., can we add words such as "CommodityLogic and User agree that their
participation in this beta test is confidential.  The identity of the user
[may]   [may not]  be made known to the other beta users testing in this same
time period." (User to strike through undesired option.)

All the best,

Tom

 -----Original Message-----
From:  Greenberg, Mark
Sent: Tuesday, February 20, 2001 12:53 PM
To: Gros, Thomas D.; Harrison, Susan
Cc: Taylor, Mark
Subject: CL Beta Agreement

Tom/Susan -

Attached is a first draft of the Beta Agreement for the site and modules.

Please review and let me know your thoughts.

 << File: Beta Test Agreement (2-20-01).doc >>

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


So how should these deals be Enpowered in the future?  Cara has wisely warned me not to Enpower multiple strips to avoid this double counting.

 -----Original Message-----
From: 	Thompson, Virginia
Sent:	Friday, August 03, 2001 5:29 PM
To:	Fischer, Mark; Alonso, Tom; Salisbury, Holden
Cc:	O'Neil, Murray P.; Dunton, Heather
Subject:	DPR on your PMA's

Mark, Tom, and Holden,

In reference to the DPR impacts of $ 132,000 (WAPA) and $133,000 (SRP) that you were expecting, here is an explanation of why you will not be seeing that in your PMA's:

The 2 deals listed below were put in as a MW month, each with 3 strips in the deal separating out April 1, April 2, and the rest of the month.  The reason for the 3 strips was to catch the April 1 time change from PST to PDT.

deal #  539126: 3 strips @ 2216 = 199,500 charge for the month in CARP (true value is - $66,500).
deal #  538832: 3 strips @ 2180 = 196,200 charge for the month in CARP (true value is - $65,400) .

Typically, I provide you with a report that tells you what $ amount to look for coming thru in your PMA's, according to the changes that I am making on the back end.  You then see the change in DPR come thru on a PMA report that Risk provides for you.

When these deals hit Settlements, we recognized that the CARP was calculating both deals at 3 times their monthly value (and since we are purchasing, that is a negative three times against your books).  When the above + DPR impacts didn't come thru in your PMA's, we started looking at the deals to figure out why they didn't.

Here is a discription of the Risk - Settlements process:
Risk values a deal on the day of liquidation.  Any intra-month changes, even if they happen after the day of flow, get trued up by Risk and changed in the DPR.  Anything that gets changed after the end of the month, Settlements recognizes as a DPR variance and reports this to Risk and you see it affect your DPR as reported in the PMA report.

So the question was: When it came to recognizing a variance in Settlements, why weren't we seeing a + amount back to your books for 2 of the strips that I zero'd out?

Houston Settlements looked into it and were seeing that these deals were originally valued at ($66,500) and ($65,400), even though CARP was showing that they were calculating at ($199,500) and ($196,200) ....

Heather Dunton and I did alot of searching for the answer and we found that:  When Risk flashed these deals in April, they flashed them according to a single MW month charge.  Regardless of how many strips there are, the deal is set up as a MW month and should, therefore, calculate as one single charge for the month.

We found that CARP is reading these incorrectly and causing the confusion, (as I was seeing that the deals were calculating 3 times because that is how CARP and UNIFY were reading the deal).

 The IT people in Houston are now working on fixing that glitch.

When it comes to DPR, your book originally recognized an impact of (66,500) and (65,400), which is correct.  Since your April DPR was correct, you will not see an adjustment in your PMA's.

I recognize that this is not gratification for the + DPR impact that you were expecting and I apologize for the confusion and mis-information that I gave you in my report.  This has, however, helped us to hi-light a technical error that will save us alot of work in the future.

Thanks for your patience while we figured this out.
Let me know if you have any questions.

 Thanks,

 Virginia


Receipt is in the fax.

-----Original Message-----
From: Jeffrey.A.Shankman@enron.com [mailto:Jeffrey.A.Shankman@enron.com]
Sent: Tuesday, October 23, 2001 3:03 PM
To: CSWART@coair.com
Subject: RE:

1818 South Blvd
Hou. TX.  77098
713 523 5077  hm

713 853 1761  ofc
713 853 1922  ofc fax

    -----Original Message-----
   From:   "Swartz, Cristina" <CSWART@coair.com>@ENRON
   Sent:   Tuesday, October 23, 2001 1:58 PM
   To:     Shankman, Jeffrey A.
   Subject:  RE:

   Can I please have your :
   * Home Mailing address
   * Home phone number
   * Work number
   * Fax number
   Thanks, Tina
   -----Original Message-----
   From: Jeffrey.A.Shankman@enron.com [mailto:Jeffrey.A.Shankman@enron.com]
   Sent: Tuesday, October 23, 2001 11:36 AM
   To: CSWART@coair.com
   Subject: RE:

   Call me when you get here, it's a zoo downstairs.  853 1761

       -----Original Message-----
      From:   "Swartz, Cristina" <CSWART@coair.com>@ENRON
      Sent:   Monday, October 22, 2001 4:50 PM
      To:     Shankman, Jeffrey A.
      Subject:  RE:

      ok great. Noon downstairs in Lobby to show you fabric.

      -----Original Message-----
      From: Jeffrey.A.Shankman@enron.com
   [mailto:Jeffrey.A.Shankman@enron.com]
      Sent: Monday, October 22, 2001 4:48 PM
      To: CSWART@coair.com
      Subject: RE:

      Great.  How about noon in the lobby (of the old Enron Bldg)?  I'd
   love
      to
      look at samples/pics, but maybe over the weekend.

          -----Original Message-----
         From:   "Swartz, Cristina" <CSWART@coair.com>@ENRON
         Sent:   Monday, October 22, 2001 4:39 PM
         To:     Shankman, Jeffrey A.
         Subject:  RE:

         OK. let me know what time works and we'll meet.  I also have ( I
   need
      to
         look for it) a whole bunch of magazine cutouts that I had gathered
         earlier
         when you first bought your house to show you.  These are just
      examples
         of
         possible styles, tables, accessories etc. that you might like and
      that I
         can
         help you find to place in your house.  We can go over these as
   well
      if
         you
         want. I also have books I can lend you for you to look through and
      let
         me
         know if you like something.
         Tina

         -----Original Message-----
         From: Jeffrey.A.Shankman@enron.com
      [mailto:Jeffrey.A.Shankman@enron.com]
         Sent: Monday, October 22, 2001 4:27 PM
         To: CSWART@coair.com
         Subject: RE:

         Hi there, how about tomorrow around lunch time?

             -----Original Message-----
            From:   "Swartz, Cristina" <CSWART@coair.com>@ENRON
            Sent:   Monday, October 22, 2001 3:18 PM
            To:     Shankman, Jeffrey A.
            Subject:  RE:
            Importance:  High

            I've got 2 samples of fabric.  1 plain off white and the other
   a
         ribbed
            off
            white.  Elizabeth and I prefer the ribbed.
            Plain = $40 retail / $20 cost
            Ribbed = $50 retail  / $25 cost x 34 yards = $850
            I'll give them to you at cost so that we can continue
   furnishing
      your
            house
            ( I hear it's empty).
            If you have time this afternoon and can walk down to your Lobby
   I
      can
            meet
            you there to show you the fabrics.  Also, bring down a check so
      that
         I
            can
            stop by Walter Lee Culp and order you couches and fabric
   ma?ana.
         Fabric
            can
            be overnighted if needed or sent 2 day.
            I think 2 day is plenty of time.

            50% now - (not including taxes)
            50% later + shipping and taxes when couches are ready for
   delivery
         (6-8
            wks.).

            Need now
            $5445 for 2 loveseats and 1 couch + $850 for fabric = $6295
            I will give you a receipt.
            Let me know when you can see the fabric........
            Tina

            -----Original Message-----
            From: Jeffrey.A.Shankman@enron.com
         [mailto:Jeffrey.A.Shankman@enron.com]
            Sent: Tuesday, October 16, 2001 2:59 PM
            To: CSWART@coair.com
            Subject: RE:

            Good.  I'm going to Cabo thursday and will be back early
   sunday.
      If
         you
            have a few samples, I'll pick one, and well go forward.  Can we
      order
            the 3
            sofas, and send them the fabric when it comes so we can get in
   the
         line
            of
            orders?  No problem on the check.

            What do you think of them?  Be brutal.

            Jeff

                -----Original Message-----
               From:   "Swartz, Cristina" <CSWART@coair.com>@ENRON
               Sent:   Tuesday, October 16, 2001 2:49 PM
               To:     Shankman, Jeffrey A.
               Subject:  RE:

               Retail for couch is $5460 (saving $1170 about  27% lower)
               Retail for loveseat $4200 (saving $900 about 27% lower.)
               I may be able to save you more on the fabric if I can find
   the
      one
            you
               need
               at Kravets since they give me 50% off.  The majority of the
         furniture
               stores
               only give between a 20-30% off.  The couches take about 6-8
      weeks
         if
               they
               are in stock and usually are.  I'll get some fabric this
   Friday
            during
               lunch
               and maybe I can show you over coffee that afternoon.  I'll
   need
      to
            order
               the
               fabric so add another 2 weeks at least before the store gets
      it.
            Also,
               I'll
               find out paying conditions but usually is 50% upfront (cash)
      and
         then
               the
               other 50% when ready for delivery.  They don't take credit
      card.
            Checks
               payable to me and I pay with my company check.
               I'll get moving and call you on Friday.
               Sound good?

               -----Original Message-----
               From: Jeffrey.A.Shankman@enron.com
            [mailto:Jeffrey.A.Shankman@enron.com]
               Sent: Tuesday, October 16, 2001 2:25 PM
               To: CSWART@coair.com
               Subject: RE:

               Holy cow this is expensive.  Of course I don't care about
   your
      5%
         or
            so,
               but what is the retail on these babies?  I'm pretty flexible
   on
         the
               fabric--mid range would be fine.  Let's move ahead.  (2
      loveseats
               though,
               not 1)  How long did they say?

               Jeff

                   -----Original Message-----
                  From:   "Swartz, Cristina" <CSWART@coair.com>@ENRON
                  Sent:   Monday, October 15, 2001 5:04 PM
                  To:     Shankman, Jeffrey A.
                  Subject:  RE:

                  OK...
                  Sofa = $4290
                  Loveseat = $3300
                  8.25% tax = $626.18.
                  Total = $8,216.18.  Both w/out fabric.

                  You need a total of 23.5 yards of fabric.  I usually get
      about
         a
               30-35%
                  discount on fabric so if you are OK with the couch
   prices, I
         can
            go
               to
                  the
                  Decorative Center and get some fabric samples for you to
      choose
            from.
               I
                  have no clue as to how much indoor/outdoor fabric goes
   for
      but
            I'll
               get
                  a
                  range so that you can see the difference between the
   cheaper
         and
                  expensive
                  type.  Let me know how you would like to proceed.
                  Thanks, Tina

                  -----Original Message-----
                  From: Shankman, Jeffrey A.
         [mailto:Jeffrey.A.Shankman@ENRON.com]
                  Sent: Monday, October 15, 2001 10:30 AM
                  To: cswart@coair.com
                  Subject:

                  Hi Tina,

                  Thanks for you help.

                  The site is www.thewickerworks.com.  Click on it to go
      directly
               there.
                  The are in Houston at Walter Lee Culp.  713 623 4670.

                  If you go to their web site go to the home page, then to
   the
         tab
            that
                  says wicker, then to the tab that says more.  The design
   is
         Helva.

                  I need 1 Helva sofa, and 2 Helva loveseats, of course in
   a
      very
            plain
                  off white (not tan as one of the pictures shows)
      indoor/outdoor
               fabric.

                  Or if you have any other ideas, let me know, of course.

                  Regards,

                  Jeff

                  713 853 1761

   **********************************************************************
                  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.

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


In Energy Insight for Friday, August 25
In Energy Insight Today (Blue Banner, all subscribers)
With more power in the possession of fewer companies, the amount of
generating capacity a big utility needs to compete in the marketplace is
rising.  Find out just how many tens of thousands of megawatts constitutes
"big" these days, including a list of the biggest, at
http://www.einsight.com.

Also in Energy Insight Today, European news headlines from FT Energy's team
of London-based editors.

In Energy Insight 2000 (Red Banner, premium-pay access only)
In Energy Insight Energy Services:  Energy industry business-to-business
exchanges could save utilities millions of dollars in procurement and
billing, but first they must head off antitrust issues that have plagued
other business sectors.  Details at http://www.einsight.com.

In Energy Insight Fuels:  Environmental concerns about coal, supply
shortages in natural gas plus improvements in the efficiency and design of
nuclear plants may equate to a rebound in uranium-fueled power.  Read about
it at http://www.einsight.com.

********************
News Brief

+High Cost of Oil and Natural Gas Puts FPL $518 Million Behind in Fuel
Expense Recovery

Faced with skyrocketing oil and natural gas prices and heavy seasonal demand
for electricity, Florida Power & Light Company has filed preliminary
paperwork with the Florida Public Service Commission identifying $518
million in expenses above projections for fuel burned to produce electricity
in 2000. FPL will file with the Commission in September for permission to
recover the expense in customer bills beginning Jan. 1, 2001.

Part of this increase will be offset by a refund to customers that is
currently estimated to be $75 million to $100 million. The refund is
pursuant to an agreement reached in April 1999 with the Office of the Public
Counsel and the FPSC that provides for revenue sharing between FPL and its
customers, as well as a 6% annual rate reduction for three years. As a
result of the forecasted fuel costs and the expected rebate, residential
electric rates could increase by approximately 13% per kilowatt-hour.

The cost of oil used to generate electricity has more than doubled since the
first quarter of 1999 and has not been this high since the Gulf War in 1990.
Since January 2000, oil prices have increased 44% per barrel. Natural gas
prices also have risen unabated, climbing 77% since January 2000. With the
onset of winter, natural gas prices may increase further as demand for
heating fuel increases.

/////////////////////

Market Brief    Thursday August 24
Stocks  Close   Change  % Change
DJIA    11,182.74       38.1    0.3
DJ 15 Util.     358.51  (5.7)   (1.6)
NASDAQ  4,053.28        42.3    1.1
S&P 500 1,508.31        2.3     0.2

Market Vols     Close   Change  % Change
AMEX (000)      50,373  (7,710.0)       (15.3)
NASDAQ (000)    1,548,008       85,370.0        5.5
NYSE (000)      825,146 (41,307.0)      (5.0)

Commodities     Close   Change  % Change
Crude Oil (Oct) 31.63   (0.39)  (1.23)
Heating Oil (Sep)       0.9533  (0.00)  (0.29)
Nat. Gas (Henry)        4.54    (0.07)  (1.43)
Palo Verde (Sep)        177     0.00    0.00
COB (Sep)       191     8.00    4.19
PJM (Sep)       33      0.50    1.52

Dollar US $     Close   Change  % Change
Australia $     1.745   (0.01)  (0.40)
Canada $        1.487   0.00    0.10
Germany Dmark   2.166   (0.01)  (0.46)
Euro    0.9017  (0.00)  (0.11)
Japan _en     106.83  (0.23)  (0.21)
Mexico NP       9.205   (0.02)  (0.18)
UK Pound        0.6749  0.00    0.25

Foreign Indices Close   Change  % Change
Arg MerVal      470.51  2.87    0.61
Austr All Ord.  3,330.40        7.70    0.23
Braz Bovespa    17,310.96       (139.48)        (0.81)
Can TSE 300     11,178.98       71.17   0.64
Germany DAX     7,230.26        (2.52)  (0.03)
HK HangSeng     17,439.70       12.30   0.07
Japan Nikkei 225        16,670.82       234.17  1.40
Mexico IPC      6,293.55        (73.45) (1.17)
UK FTSE 100     6,557.04        (9.20)  (0.14)
Source: Yahoo! and NYMEX


Sounds good.

We went to Palacios last weekend.  The water was very silty from the rain,
and the tide was low.  There were a few black drum, but not much else.  We
did find a stone crab, which was a first.

Kay

lee.johnson@ss.ps.ge.com on 11/28/2000 08:09:58 AM
To: Kay.Mann@enron.com
cc:

Subject: RE: Weekly GE Conference Call

Kay,

I have a conflict Wed afternoon.  But can catch up on Thurs with you and
Kent.

Meanwhile, please send me an e-copy of the LM Exhibits.  I can do a quick
redline of those that change.  I've already marked up w/ red pen, the ESA
Electrobolt + the Summary of terms sheet (ala Dale's on LV II).

Thanks,

Lee

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, November 27, 2000 3:14 PM
To: michael.barnas@ps.ge.com; stephen.swift@ps.ge.com;
lee.johnson@ss.ps.ge.com; kent.shoemaker@ae.ge.com;
Lisa.Bills@enron.com; Roseann.Engeldorf@enron.com;
Sheila.Tweed@enron.com; Scott.Dieball@enron.com; Ben.Jacoby@enron.com
Cc: Suzanne.Adams@enron.com
Subject: Weekly GE Conference Call

Dear Turbine Torture Club Members:

The purpose of this email is to confirm that we will have a conference call
this Wednesday, November 29 at 130 CT.  The following items have been
suggested for the agenda:

Form of consent to assignment agreement (draft circulated) - to be used for
LM's and Frames, if possible.
Assignment language - new language being tortured within the Enron ranks,
to GE soon.
Limit of liability, indemnity, etc. - Enron owes GE a position on this.

In addition, it seems to me that the following equipment will be "moving"
soon:

City of Austin LM's (to be assigned to ENA, then NEPCO)
LM's for the ESA project
PSCO, LV CoGen, the remaining LM's, Pastoria, Blue Dog (all to DevCo,
right?)

I suggest that we address any commercial, financial or legal issues
outstanding concerning the assignment of these turbines.

There may be others who need to be involved in the call, and there may be
additional issues.  Please advise.

Thanks,

Kay


Forgot the payout - 1st place 75%, 2nd place 25%
PL


schedule some time.  Jeff
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 11/13/2000
10:05 AM ---------------------------

Jeff Kabel@ENRON
11/12/2000 01:19 PM
Sent by: Jeff Kabel@ENRON
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: In this week

Will you be around this week?  I need to start thinking seriously about what
to do next...though I still have to take that vacation you suggested.

Some parts of this reorg baffle me...

Hope all is going well.

jf

541.14.891.3600 in Buenos Aires


Dave,

Attached is the Schedule to the ISDA Master Agreement.  The document you
faxed me was the preprinted form of ISDA Master Agreement.  That document,
TOGETHER with the attached Schedule is your full "ISDA Master Agreement".
Also attached to this Schedule is the form of Enron Corp. Guaranty and
proposed form of Legal Opinion to be issued by Clark County PUD #1.

It is my understanding that you will provide these documents directly to the
counterparty.  Again, the whole package above must be provided to the
counterparty or you will not have a complete set of documents.  Call me if
you have any questions.


I think that this was great, too.  I look forward to the next one.  Would you
like to coordinate dinner plans for the next lecture?

	From:  Sheila Glover                           02/11/2000 07:32 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Thank you

Sally,
Many thanks.. I thoroughly enjoyed last night.  Sarah Weddington was a
delight and dinner was fun.. Kristin told safari stories..
Sheila


Hola Susana,

Well I lost my semi-final match due to sub par serving.  If I served like I
did against you last Monday I would have won!  I'm playing Ron Billings
tonight at 6 & maybe the good-serving Bill will show up.

Espero que el problema de seno (sinus) se haya mejorado y que te pase bien
el dia.

Un beso, G.
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.


Updated Hot List;

 -----Original Message-----
From: 	Bronstein, Mara
Sent:	Monday, October 08, 2001 7:15 AM
To:	Miller, Stephanie; Tycholiz, Barry; Ward, Kim S (Houston); Polsky, Phil; Whitt, Mark; Lucci, Paul T.; Harrison, Tyrell
Subject:	Hot List

Just a reminder.  Please fix your parts on the hot list and send them back to me.
Thanks,
Mara

 << File: 10-5-01 Hot List.xls >>


-----Original Message-----
From: 	Hanagriff, Richard
Sent:	Wednesday, January 30, 2002 7:45 PM
To:	Schoolcraft, Darrell
Subject:	tw imbalances


Sam:  Could you please call these guys this morning and offer to fax the name
change doc?  Please let me know when this is done.  This is a HIGH PRIORITY.
Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 09/11/2000 09:11 AM -----

	Darren Delage@ENRON
	09/11/2000 04:57 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Gary Hickerson/HOU/ECT@ECT
		 Subject: UBS/ Enron relationship

Sara, I just executed a long dated forward with UBS. They still have the
business entity registered as Enron Capital & Trade. Could you please update
them ? UBS can be reached at:
81-3-5208-7695 Masako Chiba

Sincerely,
Darren


I can go the 11th

 Happy Birthday BG


Nov 7, 1999 12:48 PM

Jeffrey Dasovich,

Your registration for the Traffic School To Go program has been recorded.  We
hope that everything is clear and that you will have no problem successfully
completing the program but if you need help, please reply to this Email with
your questions or phone toll free - (888) 349-8425.

Remember, this is EXACTLY how you will need to re-enter your information
when logging back in to the program:

license state = California
license number= N7889351

To log into the course, visit the following URL:
http://www.trafficschooltogo.com/students/

If you find you have made an error in entering your license information, use
the incorrect information to log in.  Once logged in, you will have the
option of correcting the error by hitting the "Personal Information" button
on your "Student Control Panel" at the bottom of any page.  Thereafter, the
corrected license information will log you in.

Oh, and just to confirm, we have the following mailing
address information for you:

366 Dolores St., #3
San Francisco, CA 94110

If this is incorrect, use your "Personal Information" button to fix it. In
fact, please be sure to double-check (and change if necessary) all of your
"Personal Information" sometime before you finish so that we can reach you if
there's a problem or so that your certificate does not go astray due to a
typo in your mailing address. Thanks.

Sincerely,

Peggy Goldman
Traffic School To Go
http://www.trafficschooltogo.com
(888) 349-8425


Whatl is the deal with the guaranty?    They have refused our gty to them ?

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


512927 has also been changed to .005 broker fee.

Kate

Stephanie Piwetz   02/05/2001 06:37 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: bro fees with Bloomberg

please check fees on the following trades,  thanks

---------------------- Forwarded by Stephanie Piwetz/HOU/ECT on 02/05/2001
08:43 AM ---------------------------
Stephanie Piwetz   02/02/2001 05:32 PM

To: Kate Symes/PDX/ECT@ECT
cc:
Subject: bro fees with Bloomberg

Kate, please verify with traders
tom
deal 512827.01
enron sells merrill
260.00   Q2    2001
25 mws

bloomberg has fee .005   we have zero

bob badeer
deal 512927.01
Enron sells merrill
Q2 2001
250.00

bloomberg has .005 fee, we have zero

if fee
please add

thanks


We have a buyback under HPL (#586534).  ENA had only 7,000/day scheduled at
mtr 1373 in Feb.  In reviewing the daily volumes in POPS, I didn't see any
days with flow under 18,000.  So, we should not need a buyback for ENA.  Any
shortages should be allocated to the HPL ticket.

D

Aimee Lannou   03/14/2001 11:03 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Re: deal 34342

Daren - Thu has asked if I can extend deal 343421 thru Feb. '01.  I told her
I didn't have the authority to do this.  It is for Equistar.  It looks like
it is a term deal expiring Jan. '01.   She wants it added to keep the ENA
deal whole.  What do you suggest?

AL
---------------------- Forwarded by Aimee Lannou/HOU/ECT on 03/14/2001 10:58
AM ---------------------------
To: Aimee Lannou/HOU/ECT@ECT
cc:
Subject: Re: deal 34342

Aimee,

This is the deal for Equistar.  There is not enough gas at meter 1373 to keep
the ENA deal whole.  I need this deal to create buyback.  This was out there
last month and Anita told me to get the deal extended.  Let me know if there
is another way.

Thu

Aimee Lannou   03/14/2001 10:23 AM

To: Thu T Nguyen/HOU/ECT@ECT
cc:
Subject: Re: deal 34342

Why do you need it extended?  This deal may not be able to get extended.
Which meter are you having problems with?

To: Aimee Lannou/HOU/ECT@ECT
cc:
Subject: Re: deal 34342

Aimee,

I am so sorry...I don't know what's wrong with me.  The deal is 343421.  If
you can't extend this deal please let me know.  Thanks

Thu

Aimee Lannou   03/14/2001 07:59 AM

To: Thu T Nguyen/HOU/ECT@ECT
cc: Edward Terry/HOU/ECT@ECT, Juliann Kemp/ENRON@enronXgate
Subject: Re: deal 34342

I don't have access to this ticket.  It is an IM Canada ticket.

	From:  Thu T Nguyen                           03/13/2001 05:45 PM

To: Aimee Lannou/HOU/ECT@ECT
cc:
Subject: deal 34342

Aimee, please extend the deal above to Feb 01.


still deficit gas demand scenario...

EarthSat's view similar...


No problem

	<Suzanne_Nimocks@mckinsey.com>
	12/07/2000 02:18 PM

		 To: skean@enron.com
		 cc:
		 Subject: Tomorrow's meeting

I realized that we'll have quite a few people there tomorrow: Rick, Mary ,
Jeff,  you, me, Jon.  Do you have a problem if Dan comes too, or would you
rather not.

+-------------------------------------------------------------+
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| information.  If you are not the addressee or authorized to |
| receive this for the addressee, you must not use, copy,     |
| disclose or take any action based on this message or any    |
| information herein.  If you have received this message in   |
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+-------------------------------------------------------------+


Here are all the press releases that have come out recently.  I guess eweek
will happen in the next month, dad.

 <<Metrics Highlights.doc>>

 - Metrics Highlights.doc


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-----Original Message-----
From: Garven, James R.
Sent: Monday, November 26, 2001 10:47 AM
To: Martin, John  D.
Subject: FYI: "Oh, the Games Enron Played" (from the  Knowledge@Wharton website)...
Oh, the Games Enron Played
In the 1990s, Houston's Enron Corp. was Wall Street's darling. It had  thrown out the energy-industry playbook, remaking itself from a staid gas  pipeline company to a high-tech trading firm that created exotic securities for  betting on everything from gas prices to the number of hot days in  summer.
Share prices soared from $30 to $90 between 1998 and 2000, as  sales increased from $31 billion to more than $100 billion. Enron executives  gained reputations as the energy industry's visionaries.
This fall it all  came apart. Share prices have fallen by 90% this year, including a plunge from  just below $40 to less than $10 this fall. In October, Enron reported a  third-quarter loss of $618 million. The company's massive debt was downgraded to  near junk-bond status, and the CEO and CFO were expelled. Shareholders sued and  the Securities and Exchange Commission launched an  investigation.
Finally, the humiliated company, which employs more than  20,000, agreed Nov. 9 to be taken over by smaller cross-town rival Dynegy Inc.  for about $9 billion in stock and $13 billion in assumed debt. It is not certain  the merger will take place since it is subject to regulatory approval and could  be blocked on antitrust grounds. And some news accounts suggest that major  Dynegy shareholders could derail the merger over concerns about inheriting  liabilities from current or future lawsuits by Enron shareholders.
The  Enron story is not simply a case of a lone company that played with fire and got  burned. Enron was able to take enormous risks while keeping shareholders in the  dark because it could exploit accounting loopholes for subsidiaries that are  available to most publicly traded companies. Companies like Enron can legally  conceal massive debts because rules require a full accounting of a subsidiary's  balance sheet only when the parent company owns more than half of it.
"If  I'm a shareholder of Enron and I want full and fair disclosure, I would want  information about the entities Enron controls," says Wharton accounting  professor Robert E. Verrecchia. Yet Enron shareholders have never received such  a report.
Enron's fate is crucial to the energy industry and other  markets it serves, points out Paul R. Kleindorfer, a professor of public policy  and an expert on deregulation at Wharton. Producers and users of gas, oil,  electricity and other forms of energy rely on Enron's system for trading  futures, forwards, options, swaps and other contracts to get the best prices and  control costs far into the future. Without such a system, deregulation simply  cannot work.
"If Enron's trading platform were to go down it would not be  a minor loss," Kleindorfer says. "It would be a huge loss for the industry?.In  the early 1990s the company single-handedly produced the backbone infrastructure  that has led to a whole industry of broker intermediation."
To some  extent, Enron appears to have been a victim of sagging securities prices and  volatile energy costs in 2000 and 2001, and it has lost hundreds of millions by  laying fiber-optic cable for which there is no demand. But although those  factors may have determined the timing of the company's troubles, they were not  the chief cause. Enron appears to have lost enormous amounts of shareholder  money by gambling at its own roulette wheels.
"In hindsight, we made some  very bad investments in non-core businesses that performed worse than we ever  could have conceived," Chairman Kenneth Lay told analysts last week.
How  did Enron get into this mess?
Becoming a Market Maker
When  it was created in 1985 by the merger of Houston Natural Gas and InterNorth,  parent company of Northern Natural Gas, Enron's chief business was the operation  of thousands of miles of natural gas pipeline. Lay became chairman in Feb. 1986.  Then early in the 1990s, the federal government took key steps to deregulate the  energy industry.
Previously, large regulated utilities were vertically  integrated, giving them control from wellhead to consumer, Kleindorfer says.  Deregulation effectively broke apart the production, long-range transmission and  local distribution functions, leaving each to a different set of players. A  factory owner, for example, can now buy gas or electricity from number of  producers.
To function, a free market such as this needs brokers, or  intermediaries, to create, buy and sell contracts for production and delivery,  and it requires a market maker to facilitate trading, just as the big Wall  Street firms and exchanges facilitate trading in stocks. Enron created that  marketplace. "This intermediation activity, or brokerage activity, just  revolutionized the marketplace," Kleindorfer says.
Since utilities and  other energy users must line up dependable supplies for many months in the  future, they rely on various forms of contracts specifying quantities, prices  and delivery dates. But before the commodity is delivered, prevailing prices may  go up or down, and a supplier may find it has promised to sell at a price that's  now too low, while a purchaser may find that it could have bought for less than  it had agreed to pay.
Suppliers and purchasers therefore use a variety of  derivative contracts to benefit from prices that move in their favor and hedge  in case prices move against them. A company that has contracted to buy a  shipload of liquefied natural gas at a specific price in three months, could,  for a much smaller sum, buy an options contract giving it the right, but not the  obligation, to buy a shipload at a lower price. And it could buy an option  giving it the right to sell at a higher price. Thus it is protected regardless  of whether prices move up or down.
This was the business Enron invented.  By permitting competition and price discovery far into the future, it brought to  the marketplace the most efficient pricing and allowed energy users to predict  and stabilize costs far into the future, Kleindorfer says. "Having that  information historically, as well as projected into the future, could  revolutionize how you plan your business," he said.
At the heart of  Enron's business strategy was the belief that it could be a big energy player  without owning all the power plants, ships, pipelines and other facilities  involved. Instead, it could use contracts to control the facilities in which  other companies had invested, says Ehud Ronn, director of the Center for Energy  Finance Education and Research at the Red McCombs School of Business at the  University of Texas at Austin. The Center trains masters candidates in the use  of energy securities. (Enron is one of the center's eight corporate  sponsors.)
Enron, he says, evolved into something akin to a Wall Street  firm. "Enron thought of itself in very similar terms as an investment banker  that wanted to tie up as little capital as possible."
By 2001, Enron had  evolved into a market maker for some 1,800 different products, many of them  energy- or Internet-related contracts or derivatives the company had created  itself. They included products allowing customers to buy, sell, hedge or  speculate in markets ranging from traditional commodities like coal, oil, gas  and electricity to cutting edge markets for Internet bandwidth, pollution  emissions, semiconductors, wind energy and many others. Prices for many of these  products were available on the company's free website, giving the energy markets  unprecedented price transparency.
Betting on the Weather
To  see how these products could be used, consider one of Enron's "weather risk  management" products meant for utilities, energy distributors, agricultural  companies and financial institutions. A gas utility, for example, might use a  "floor" to protect its revenue in the event of a mild winter. In exchange for a  premium similar to that paid on an insurance policy, Enron will compensate the  utility for every day between November and March on which the temperature rises  above a set level. The payments would make up for reduced gas sales.
In  another form of contract called a swap, or collar, Enron will pay the gas  company a given amount if the number of warm days exceeds a set level. But if  the number of cold days exceeds a threshold, the gas company will make a  payment to Enron. The utility would not have to pay a premium as it would with  the floor, and if it had to pay Enron, the money would come from the extra  revenue received by selling more gas in a colder-than normal winter.
To a  layman this might look like betting. "We never use that word," says Ronn. "The  worst we say is to 'have a view.'"
In practice, other parties are often  involved in such transactions, taking over the contractual obligation created by  Enron. So, in addition to placing its own bets, Enron serves as a middleman, the  way a stockbroker stands in the middle of a securities trade.
Like many  middlemen, Enron has to be in a position to make good on any transaction should  either party default. Otherwise, it would be hard to make a market in these  products. In addition, says Ronn, Enron often has to pay out money before  receiving payment from another party. Finally, Enron needed large amounts of  capital to trade products in its own account, just as a Wall Street firm invests  in stocks on its own in addition to executing customers' trades. To accomplish  all this, Enron needed vast amounts of capital. "You do need to have liquidity  in huge numbers," Ronn says.
This created a dilemma. A public company can  raise capital by selling additional shares, but current shareholders don't like  that because the new shares dilute the value of their holdings. The alternative  is to borrow, but large debts hurt a company's credit rating, forcing it to pay  higher interest rates on its loans.
Andrew S. Fastow, who became the  company's senior vice president of finance in 1990, found innovative ways to  issue new shares without dilution and to raise capital by selling old-fashioned  assets like power plants and pipelines.
"He has invented a groundbreaking  strategy," Ted. A. Izatt, senior vice president at Lehman Brother's Inc., told  CFO Magazine in the fall of 1999. Or, as Enron president and CEO Jeffrey  K. Skilling told the magazine: "We needed someone to rethink the entire  financing structure at Enron from soup to nuts. We didn't want someone stuck in  the past, since the industry of yesterday is no longer. Andy has the  intelligence and the youthful exuberance to think in new ways. He deserves every  accolade tossed his way."
Fastow, named chief financial officer in March  1998, told the magazine: "We transformed finance into a merchant  organization?.Essentially, we would buy and sell risk positions." A key to the  strategy: Move many of Enron's transactions "off the balance sheet." In part,  this involved exploiting a loophole in the securities and accounting  regulations. As noted earlier, debts accumulated by subsidiaries, partnerships  or other "entities" can be kept off the parent company's books so long as the  parent does not own more than 50% of the entity incurring the debt.
By  using so-called unconsolidated subsidiaries, "you do not make transparent either  the nature of the investment or the relationship between the parent and the  subsidiary," said Verrecchia. Heavy hitters such as Wall Street analysts and  major shareholders may have the clout to get a company to provide additional  information on subsidiaries. "But if you're just an investor picking up Enron's  annual report, you are stuck," Verrecchia added.
A Pattern of Sketchy  Details
It has long been clear from company statements and SEC  filings that Enron's off-balance-sheet transactions were enormous, but details  were sketchy because Enron did not have to report them, and chose not to. By  this fall, however, it became obvious these transactions involved huge risks  when Enron acknowledged it had improperly kept some activity off its books.  Putting those debts and losses into Enron's financial statements last month  meant reducing shareholder equity by $1.2 billion. Corrected statements reduced  net income by $96 million for 1997, $113 million for 1998, $250 million for 1999  and $132 million for 2000.
At issue were so-called "special purpose  entities," or SPEs, set up for a variety of transactions for Enron's benefit.  Enron conceded some of these entities did not meet the accounting standards to  be kept off of Enron's books. In one case, for instance, the entity had  "inadequate capitalization" for such treatment.
In 2000, Enron had  created four entities known as Raptor I, II, III and IV to "hedge market risk in  certain of its investments," according to an Enron filing with the SEC. Enron  acquired notes receivable from the Raptors in exchange for an obligation to  issue Enron shares to the entities. But Enron had improperly included the value  of the notes receivable on its books without accounting for the cost of the  shares it would have to issue. In correcting this violation of accounting rules,  Enron said it had overstated its shareholders equity by $1 billion in March and  June 2001.
Enron was particularly embarrassed in acknowledging that two  special purpose entities, limited partnerships LJM Cayman and LJM Co-Investment,  had Fastow as the managing partner. Fastow, who according to Enron made in  excess of $30 million in this role, was forced out of the company in October. An  internal committee and the SEC are investigating the use of the  partnerships.
Obviously, Fastow's role was a problem. If the partnerships  were truly independent entities, he was in a conflict of interest. If he was  running them on Enron's behalf, they were not independent.
Despite the  write-downs and disclosures this fall, many analysts complain they still do not  have a full picture of Enron's activities. Enron, for instance, has not fully  described other partnerships it believes it can properly keep off the balance  sheet. Nor is it clear to what extent Enron's losses are due to bad bets it had  made through highly-leveraged derivatives. While a stock market investor can  simply hang on to shares to wait out a downturn, options and other derivatives  typically have expiration dates. If the bet has not turned out as hoped, the  entire investment can be lost.
"New disclosure was modest and management  did not resolve concerns," Goldman Sachs analysts David Maccarrone and David  Fleischer wrote in an Oct. 24 report to clients. Though Enron had long faced  such criticisms, investors had tended to give the company the benefit of the  doubt "because of its strong growth in earnings and acknowledged industry  leading capabilities?," the two analysts said.
In other words, when stock  was soaring, investors didn't require details on how it was done. Now they are  crying foul, and a number of shareholder suits have been filed. Essentially,  they claim the company inflated its stock price by filing false financial  statements. Investors who bought shares at those high prices have suffered huge  losses.
For years, the Financial Accounting Standards Board, which sets  accounting rules, has had a draft proposal for improving disclosure of  subsidiaries' activities and numbers. Essentially, it would move toward a more  qualitative evaluation of whether the parent controlled the subsidiary even if  it owned less than 50% of the stock. Control could be exerted by holding board  seats or through contracts that effectively make the subsidiary a unit of the  parent.
"What the FASB has promulgated seems to me to be sensible,"  Verrecchia said, noting that the whole purpose of accounting is to give an  accurate view of a company's inner workings and true earnings. To conceal  obligations, risk and debt, as Enron and others do, undermines that goal, he  said.
But, facing heavy opposition from accountants and corporations, the  FASB has not acted on the draft proposal, citing insufficient support on its  board. So for the time being, off-balance-sheet transactions will continue to be  a common practice among American corporations.


Hi You All!  Barb and I moved yesterday to 3099 Dick Wilson Drive, Sarasota,
FL 34240 so please don't forget to change our address in your little black
book.


Mary,  Please prepare a draft bi-latieral CA with the following entity:

RealEnergy, Inc.
1900 Avenue of the Stars, Suite 755
Los Angeles, California 90067

The topic of the CA should be information concerning a potential sale of natural gas and/or provision of transportation capacity for RealEnergy's distributive generation requirements in southern California.

You can use the Huber CA we just did for the form.  Please check conflicts with Kay Young as well.  Thanks.


Charlie,

The new plant max consumption for planning purposes should be set at 2,490 mmBtu/hr HHV.  In addition to this it is estimated that the existing Frame 5 may require 335 mmBtur/hr HHV, or a total of 2,825 mmBtu/hr HHV.

The plant consumption is based on the maximum combustion turbine requirement, plus a 5% margin, plus duct burning requirement.  This should be adequate as a conservative maximum case.

Please let me know if you have any questions.

Thanks!

Mike Coleman


Elizabeth and Mark:  Mark Haedicke said you two would be able to pull
together a list of lawyers' names and addresses (lawyers who deal with energy
derivatives) to be provided to Liz O'Sullivan to be invited to the referenced
conference.

Jeff: Mark Haedicke said you would be able to pull together a list of
companies (companies dealing with energy derivatives) and their addresses to
be provided to Liz O'Sullivan to be invited to the referenced conference.

Liz O'Sullivan is with ISDA in New York.  Her telephone number is:  (212)
332-2559.

Thanks.

Janette Elbertson
Enron North America Corp.
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com


I had to put all my OATI files in a secure non-UBS place, but it is 600 per month for up to 15 users, and 100 a month flat fee for faxing.

They are going to raise the rate to 750 per month to pay for the e-tag 1.7 upgrades.

My contact at OATI is Frank.Billington@oatiinc.com

or  kevin.burns@oatiinc.com

Thanks,

Cara

 -----Original Message-----
From: 	O'Neil, Murray P.
Sent:	Monday, February 04, 2002 5:10 PM
To:	Semperger, Cara
Cc:	Hall, Bob M; Purcell, Mike
Subject:	FW: OATI SERVICES

Cara,

Can you please provide the latest contract terms we have with OATI for the West.  I would think that we too could reduce our # of users and Tags being printed every month.

Thanks for your assistance - MO

 -----Original Message-----
From: 	Will, Lloyd
Sent:	Monday, February 04, 2002 5:52 PM
To:	May, Tom; Baughman Jr., Don; Bentley, Corry; Allen, Thresa A.
Cc:	Bailey, Debra; Hall, Bob M; Racicot, Paul; O'Neil, Murray P.; Suarez, John
Subject:	RE: OATI SERVICES

ENSE, MDEA and East Power was $5425 for last month.  I'm trying to reduce the number of users and services that we don't require.  In the end the cost should be significantly less than this number.

The west has their own arrangements with OATI.

You will not require anything for the change over to etag 1.7 in march as OATI will take care of this as part of their services.

Kevin Burns from OATI will be in Houston on Feb 13th from 1-3 to discuss UBS services required and I would recommend that you have some one sit down and review the services that you will need going foreward.

Hope this helps.

For passwords you can contact Don for MDEA & EPMIEA and Eric has the Genco ones.

Thanks.

 -----Original Message-----
From: 	May, Tom
Sent:	Monday, February 04, 2002 5:40 PM
To:	Will, Lloyd; Baughman Jr., Don; Bentley, Corry; Allen, Thresa A.
Cc:	Bailey, Debra; Hall, Bob M; Racicot, Paul; O'Neil, Murray P.; Suarez, John
Subject:	RE: OATI SERVICES

Lloyd,

Paul and I are meeting with Bob Hall tomorrow morning to sort out what resources we need.  What is the cost per account for these and do these include Portland requirements as well?  Also, what do we need to do for the changeover to the new scheduling system in March?

Tom.
 -----Original Message-----
From: 	Will, Lloyd
Sent:	Monday, February 04, 2002 5:35 PM
To:	May, Tom; Baughman Jr., Don; Bentley, Corry; Allen, Thresa A.
Cc:	Bailey, Debra; Hall, Bob M
Subject:	FW: OATI SERVICES

Corry, Don, Theresa and Tom.

I have asked OATI to reduce the number of accounts from 40 to 10 to reduce the costs for the estate.  Therefore I recommend we go down to the following accounts Enron01-10.

Please reply ASAP.

Thanks

 -----Original Message-----
From: 	Mary Tollefson <Mary.Tollefson@oatiinc.com>@ENRON
Sent:	Monday, February 04, 2002 4:37 PM
To:	Will, Lloyd
Subject:	RE: OATI SERVICES

Lloyd,
I am going to attach a document that contains the 40 users for EPMIE.
Please let me know which 30 users you would like me to delete, and I will
take care of that for you.  I will also let my billing department know to
change all of the contact information on your invoices to what you have
stated below.  Do you know if these are going to be the Entity names that
you will be using for UBS AG or will they be different.  Just let me know.
If you could let me know which users you would like deleted, I will get this
taken care of for you. [May, Tom]
Thank you,
Mary Tollefson
Support Technician
Open Access Technology Int'l, Inc.
(763) 553-2725 Phone
(763) 553-2908 Fax
Mary.Tollefson@oatiinc.com

	CONFIDENTIAL INFORMATION:  This email and any attachment(s) contain
confidential and/or proprietary information of Open Access Technology
International, Inc.  Do not copy or distribute without the prior written
consent of OATI.  If you are not a named recipient to the message, please
notify the sender immediately and do not retain the message in any form,
printed or electronic.

-----Original Message-----
From: Will, Lloyd [mailto:Lloyd.Will@ENRON.com]
Sent: Wednesday, January 30, 2002 6:34 PM
To: support@oatiinc.com; Kevin Burns (E-mail)
Cc: Miller, Don (Asset Mktg); Hall, Bob M; Serio, Erik; Lenartowicz,
Chris; Poppa, John D; Nat, Steve; Duran, W. David; May, Tom; Presto,
Kevin M.; Belden, Tim; Baughman Jr., Don; Bentley, Corry; Bailey, Debra;
Allen, Thresa A.; Grace, Rebecca M.; Jim Steffes (E-mail)
Subject: OATI SERVICES

In regards to the billing of Enron related OATI services please complete the
following starting February 1st.

Entity EPMIE - Enron Power Marketing, Inc.  PSE Name EPMIEA.
Please change the billing contact from Lloyd Will to Bob Hall (7138536956),
the billing address is the same.  Please also reduce the number of accounts
from 40 to 10.

Entity MDEA - Mississippi Delta Energy Agency.  PSE Name MDEA.  Please
change the billing contact from Lloyd Will to Bob Hall (7138536956), the
billing address is the same.
OATI WebOasis tool Please change the billing contact from Lloyd Will to Bob
Hall (7138536956), the billing address is the same.  (Used for TVA, Big
Rivers, Associated & East Kentucky.)

Entity ENSE - Enron SE .  CA Name ENNA  We no longer have these control
areas but require access to the account for final reporting reasons.  Please
change the billing contact from Lloyd Will to Bob Hall (7138536956), the
billing address is the same.

Please contact me at 713-853-3383 with any coordination or additional
details.

Thanks.

**********************************************************************
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.
**********************************************************************


Vince and Shirley -

I have verified that his phone is in and working at Stinson's former desk.
Please let me know if I may be of further assistance

Thank you

Paula
----- Forwarded by Paula Corey/Enron Communications on 06/19/00 07:25 AM -----

	Janelle Duree@ECT
	06/19/00 06:59 AM

		 To: Paula Corey/Enron Communications@Enron Communications, Martha
Reyna/Enron Communications@Enron Communications, Guiseppe
Paleologo/NA/Enron@Enron
		 cc:
		 Subject: Guiseppe Paleologo/EXT 39189/EB4444b

Sorry for the inconvenience,  please advise if we can be of further
assistance.

Thank you for your patience.
---------------------- Forwarded by Janelle Duree/HOU/ECT on 06/19/2000 06:58
AM ---------------------------

Linda Richard
06/15/2000 04:49 PM
To: Janelle Duree/HOU/ECT@ECT
cc: Kathy Brooks/NA/Enron@Enron
Subject: Guiseppe Paleologo/EXT 39189/EB4444b

Janelle,

FMS records show that ext. 39189 was installed on 6/1 for Mr. Paleologo,
There is no record to indicate the phone was ever PUDed.

I have requested to Kathy Brooks to re-install the phone.  Kathy says that
she will reseach to find out why the phone was picked up and she will let me
know.

Thanks
Linda


Kate, here is the latest on Elektro.  Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 01/31/2000 03:51
PM ---------------------------
From: Robert H George@ENRON_DEVELOPMENT on 01/31/2000 06:52 PM ZW3
To: Michelle Cash@ECT
cc:
Subject: Composicao do Capital Social da ELEKTRO

The 18-2-99 spreadsheet is the one you want to see.
---------------------- Forwarded by Robert H George/ENRON_DEVELOPMENT on
01/31/2000 06:55 PM ---------------------------

	Enron International

	From:  Edson Pavao                           03/03/99 02:12 PM

To: Robert H George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Composicao do Capital Social da ELEKTRO

FYI
---------------------- Forwarded by Edson Pavao/ENRON_DEVELOPMENT on 03/03/99
02:12 PM ---------------------------

"Mauro Antonio Faraco" <mfaraco@elektro.com.br> on 03/02/99 02:48:54 PM
To: Edson Pavao/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, gonca@elektro.com.br,
mfukumit@elektro.com.br, newton@elektro.com.br, srangelo@elektro.com.br
cc:

Subject: Composicao do Capital Social da ELEKTRO

Ap?s troca de informa??es com Edson Pavao da ENRON e J.P.Morgan, segue em
anexo planilhas referente a composicao do Capital Social relativas a cada
evento relevante na data da realiza??o dos mesmos:

31/12/98 - Posi??o no fechamento do balan?o, conforme informa??o da Veirano
Advogados e Arthur Andersen.
18/01/99 - Posi??o para notas explicativas das DFs, p?s transferncia do ?controle Capital Votante.?29/01/99 - Posi??o p?s compra de a??es do CESPINVEST.?18/02/99 - Posi??o atual, a ser confirmada depois da liquida??o financeira do ?direito de preferncia da CESP em 12/03/99.

Favor atentar para o titulo de cada planilha no cabe?alho das mesmas, para
n?o confundir nas respectivas datas de relat?rios.

Grato,

Mauro

 - Capital_ONE.xls


To keep you in the loop.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/23/2000 05:16
PM ---------------------------
From: Roseann Engeldorf on 10/23/2000 05:08 PM
To: Catherine Clark/HOU/ECT@ECT, Eric Boyt/Corp/Enron@Enron, "ROB TAYLOR"
<TAYLR@andrews-kurth.com>
cc: Stuart Zisman/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron

Subject: WLB Notice

Rob - I tried to conform this for the transformers only - please make any
changes you think we need.  If none, would you let the group know so we can
get it out to WLB and Tim?

Thanks,

R.


Mary Kay -- please see the attached -- Red Cedar has essentially asked us for
acknowledgement that TW is willing to allow them to act as agent to transport
gas for producers even though Red Cedar itself does not have title to the
gas.  Drew has seen this and says he is going to discuss it with you.


Sam:  Please move the CSFB Futures Agreement to the "Futures Agreement"
section of the database.  Thanks.  Sara


chad is not going b/c he is in a wedding.  tim said he is a game time
decision, so i wouldn't count on it right now.


Paul:

Let me know if you need anything else.

Marie


I'm going to take today as a vacation day, since what I need to do today I can handle from home.

I'll be in tomorrow.

Thanks,

Kay


Kim,

Could you please explain (pretent you are talking to a 4 year old) the
details of the following.

a) Health care coverage provided by Enron and any costs associated with that
coverage including:
 - Medical
 - Dental
 - Vision
Is this enough coverage? Is there supplemental coverage available? What is /
is not covered?

b) Life / Accidental Death and Dismemberment / Disability Insurance

  - What (if any) is provided coverage?

c) What programs concerning retirement saving (company matched savings,
pension benefits ect...) will I participate in?

 - What are these programs?
 - How do I sign up?

d) I am told I should opt out of social security. How does that work?

e) What is my vacation allocation? How do unused vacation day work in the US?

f) In Canada, we have a "Health Spending Account" of $1000 / year that we can
allocate towards eye glasses, health club memberships ect...

 - Does a similar program exist in the US?

g) I will be required to file 2 tax returns (Canada and US) in 2000. Will
Enron cover the cost of having those returns prepared?

h) Is parking at the Allen Center covered in the offer? If not, could it be?

Thank you for your time and I look forward to hearing from you.

Chris Dorland


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 12/01/2000
02:23 PM ---------------------------

JoAnne Harris@ENRON
12/01/2000 02:21 PM
To: Vance L Taylor/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Vicente
Sarmiento/GCO/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Donald P
Reinhardt/HOU/ECT@ECT, Susan Smith/HOU/ECT@ECT
cc: Christy Sweeney/HOU/ECT@ECT, Mary Jo Johnson/HOU/ECT@ECT
Subject: Camden Resources, Inc.
Driscoll Ranch #3
Duval Co., TX

Team,

We are still waiting on the Agreements to be returned to us for the Camden
Driscoll Ranch #3 Well.  We should receive them by Monday, December 4, 2000.
I spoke with the field guy today (Bobby Husky) and he stated that the well
would not be ready to turn on until 3 weeks from now.  He said that an amine
plant is being installed.  Therefore, we are waiting on them.  This is just
an FYI to everyone.    This will still be booked for December 2000.  Please
forward this email to anyone that I might have left out.

Thank you!
JoAnne
X68228