he can go - hoskins already has to buy a ticket - he just will need to buy a
ticket in austin and then come sit with us at our seats

To: Eric Bass/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT
cc:
Subject: UT

Val would like to go if someone needs to back out (it won't be me this time)
or if there are tickets still available.


I traditionally send them on Tues morning.  I will send it tomorrow.

 -----Original Message-----
From: 	Young, Becky
Sent:	Monday, September 10, 2001 9:35 AM
To:	Zufferli, John
Subject:	Hedge Report

Please send John's report today.

Becky Young
x30622


No, it doesn't.  We don't have Calpine Energy Services Canada Ltd.  We do have Calpine Fuels Texas, Corporation and Calpine Natural Gas Company.

Marie

 -----Original Message-----
From: 	Gray, Barbara N.
Sent:	Thursday, November 08, 2001 4:36 PM
To:	Heard, Marie
Subject:	FW: Entities to Calpine Master Netting Agreement

would you check to make sure that this jives with our list????many thanks  bng
 -----Original Message-----
From: 	Murphy, Harlan
Sent:	Thursday, November 08, 2001 4:08 PM
To:	Cash, Trey; Briscoe, Marian; Gray, Barbara N.
Subject:	Entities to Calpine Master Netting Agreement

 << File: List of Agreements.doc >>

Harlan E. Murphy
Enron Wholesale Services - Legal
1400 Smith Street, EB 3811
Houston, Texas 77002
Tel: 713.345.2679
Fax: 713.646.3490
E-mail: Harlan.Murphy@Enron.com


The request has been completed with all resources requested either completed
or rejected. You can view the details of the  request by clicking
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000021435&Page=
MyReq.


What would be the opportunity? How would we use it?

From:	Michelle Lokay/ENRON@enronXgate on 04/16/2001 08:01 AM
To:	Kevin Hyatt/ENRON@enronxgate, Steven Harris/ET&S/Enron@ENRON
cc:

Subject:	FW: FW: Wild Goose Open Season Package

Does Mavrix want to participate?

 -----Original Message-----
From: 	Miller, Kent
Sent:	Sunday, April 15, 2001 5:00 PM
To:	Lokay, Michelle
Subject:	Re: FW: Wild Goose Open Season Package

Michelle,

Have you done the "math" to see what the full cycle rate is for this facility? Is TW thinking about submitting a bid on this service?

Kent

From:	Michelle Lokay/ENRON@enronXgate on 04/12/2001 08:40 AM
To:	Kent Miller/ET&S/Enron@ENRON
cc:

Subject:	FW: Wild Goose Open Season Package

Kent,
Here's the storage opportunity we had talked about last month for Mavrix.  Thanks!

 -----Original Message-----
From: 	"Ledene, Ben" <BenLedene@aec.ca>@ENRON [mailto:IMCEANOTES-+22Ledene+2C+20Ben+22+20+3CBenLedene+40aec+2Eca+3E+40ENRON@ENRON.com]
Sent:	Wednesday, April 11, 2001 4:53 PM
To:	Alan Vallow; Angela Jones; Angela Jones (E-mail); Barry Brunelle (E-mail); Bill Collier; Bill Fagan (E-mail); Bill Wood; Brad Barnds (E-mail); Brent Balog; Brent Rook (E-mail); Carole Poulter; Cathy Bulf; Chris Kiriakou; Chris Price (E-mail); Colin Coe (E-mail); Dan Thomas; Daniel Kramer; Dave Clare (E-mail); Dave Jones (E-mail); Dave Kohler (E-mail); David Ellis (E-mail); David Kuhn; David Schnake; David Swapp; Denette Johnson (E-mail); Denis St. Jean; Don Clements (E-mail); Dorothy Rothrock; Ed Brewer (E-mail); Ed Yates; Edward Miller; Elena Schmid; Erin Mullane; Frank Ermis (E-mail); Gary Collins; Gary Kline (E-mail); Gary Venz (E-mail); Greg Salyer; Gwoon Tom (E-mail); Janet Aery; Jason Sandmaier (E-mail); Jay Cattermole; Jim Harlan; Jim Lynch; Joe Heller (E-mail); Joe Holmes; John Emley; Joseph Sestak (E-mail); Junona Jonas; Karen Jarrell; Katie Elder; Ken Bradley; Ken Downey; Ken Peck; Kevin Coyle (E-mail); Kevin Legg (E-mail); "Kirk Ketcherside (E-mail)" <igi@ncti>; es.net@mailman.enron.com; Kirk Kittleson; Kirk Morgan; Kirk Stone; KoKo Cordova; LoreLei Reid (E-mail); Lynn Dahlberg; Mark Baldwin (E-mail); Marshall Clark; Marty McFadden; Matt Gravelle; Micael Rochman; Michael D'arienzo; Michael Shoemaker (E-mail); Lokay, Michelle; Mike Beckner (E-mail); Monica Padilla (E-mail); Nathan Reinhardt (E-mail); Pat Abercrombie (E-mail); Pat Keener; Patrick Mulhern; Paul Amirault; Paul Gendron (E-mail); Paul Wood; Peter Lund; Phil Richardson; Ray McCluer (E-mail); Richard Stone; Sandra Henry; Scott W. Walton (E-mail); Stan Hemmeline; Stephanie Katz; Stephen J. Swain (E-mail); Steve Izarry; South, Steven; Sue Gustofson; Susan Jones (E-mail); Pollan, Sylvia; Teresa Murray; Terry Stringer; Thomas Hannigan; Todd Slawson; Tom Lee; Tom Toerner (E-mail); Trista Berkovitz (E-mail); Troy W. Brothers (E-mail); Valdez; Weaman Ng (E-mail)
Subject:	Wild Goose Open Season Package

Expansion Firm Base Load Storage ("BLS") Service Open Season

Wild Goose Storage Inc. is planning to expand its facility located in Butte
County in northern California and connected to PG&E for service commencing
as early as April 1, 2003. This expansion could increase the facility
capacities as follows:

				      Existing Capacity	Capacity Following
Expansion
Working Gas Volume 			  14 Bcf			  38
Bcf
Maximum Injection Rate			  80 MMcfd		450 MMcfd
Maximum Withdrawal Rate		200 MMcfd		650 MMcfd

This open season provides for an in-service date commencing April 1, 2004
and an opportunity to participate in an "early service option" which could
have service available by April 1, 2003. The in-service date is subject to
CPUC approval by September 1, 2002 and the successful completion of new
facility construction.

Customer offers are required by 2:00 pm MST, Tuesday May 22, 2001

Customer offers must be reasonably open for acceptance by Wild Goose Storage
Inc. until 2:00 pm MST, Wednesday June 20, 2001 subject only to significant
changes in market conditions and final approval of customer's management.
Preference for offer acceptance will be toward longer-term contracts
(greater than 5 years) and offers, which exceed 100% of our rack rate. The
offer sheets are provided in Microsoft Excel and are set up to calculate the
percentage of rack rate for your convenience. It is the intent of Wild Goose
Storage Inc. to negotiate and conclude contracts with the participants
providing acceptable offers in this open season as close as possible to June
20, 2001. Wild Goose will announce to all contracted participants whether it
will proceed with the expansion in early August 2001. Wild Goose Storage
Inc. reserves the right to not necessarily accept the highest priced offer
nor to award all or any of the storage capacity available.

A reasonable summary of the main terms and features of BLS service is
attached for your convenience (Attached File - BLS Summary), but should not
be used as the sole terms by which service is to be provided. All service is
subject to the Tariff Schedules for Natural Gas Storage Service of Wild
Goose Storage Inc., as approved by the Public Utilities Commission of the
State of California.

For more information about Wild Goose Storage Inc. or to download a copy of
the entire tariff please refer to our web site at www.wildgoose-storage.com.

Customer offers must include the following:

A) Completed Offer Forms (Attached File - Offer Sheets) for each period of
service including:

*	the amount of Inventory Capacity Required for each April to March
period during the term
*	the amount of Maximum Daily Injection Quantity Required by month
during the term
*	the amount of Maximum Daily Withdrawal Quantity Required by month
during the term
*	the Total Storage Demand Charge for each April to March period
during the term
*	the Injection Commodity Rate for each April to March period during
the term
*	the Withdrawal Commodity Rate for each April to March period during
the term
*	a signature from an authorized employee of the company verifying the
offer

In the 'Offer Sheets' file attachment you will find the following tabs at
the bottom:

*	an offer sheet in Excel format
*	a manual offer sheet which can be printed out and filled in by hand
*	an example offer

B) An executed Storage Services Agreement (Attached File - Storage Services
Agreement) unless your company already has one on file with Wild Goose
Storage Inc.

Early Service Option

Once Wild Goose Storage Inc. gives notice in early August 2001 to proceed
with the expansion, every effort will be made to complete construction as
early as possible. Notice will be given by November 1, 2002 if service will
be available earlier than April 1, 2004. All contracted participants will
have the right, but not the obligation, to amend their contracts to the
earlier term start date and add this additional service to their existing
contracts at the same fees negotiated for the first year of service
commencing April 1, 2004.

Rack Rates
	Our rates are 'market based' meaning they are fully negotiable, but
our 'rack rates' are as follows:
Monthly Storage Demand Charges
*	Inventory($/Dth) $0.03
*	Injection ($/Dth/day) $3.00
*	Withdrawal ($/Dth/day) $2.00

Variable Charges
*	Injection Commodity Rate ($/Dth) $0.02
*	Withdrawal Commodity Rate ($/Dth) $0.02

Fuel Charges

In addition to the Demand and Variable charges described above, fuel costs
are also charged based on actual consumption by customer and the value of
the gas on a daily basis. Fuel consumption is expected to be between 1.25 to
1.75%. For details, please refer to the Wild Goose tariff.

If you have any questions about this matter or need hard copies, please
contact either Ben Ledene with Wild Goose in Calgary at (403) 266-8192 or
Chris Price and Mark Baldwin with Interstate Gas Services in California at
(925) 243-0350.
 <<BLS Summary.doc>>  <<Expansion Offer Sheet.xls>>  <<Storage Services
Agreement.doc>>  <<Wild Goose Expansion Open Season.doc>>

 - BLS Summary.doc
 - Expansion Offer Sheet.xls
 - Storage Services Agreement.doc
 - Wild Goose Expansion Open Season.doc


What is the status of our draft?

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


Hello Charlene,

I am forwarding you a resume of a student from Berkeley.
We would  like very much to have him as a summer intern with my group.

Please, let me know if your program can accommodate him.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/15/2000
07:44 AM ---------------------------

Ezequiel Luis <squiel@infosel.com> on 11/13/2000 04:23:23 PM
To: vkamins@enron.com
cc:
Subject: Summer internship

Dear Mr. Kaminski

I am currently pursuing the M.S. in IEOR at UC Berkeley. I attended the
speech you gave some weeks ago.

I am interested in summer internship positions available in Enron. You will
find enclosed my resume.

Sincerely,

Ezequiel Luis

Este mensaje fue enviado desde http://CommCenter.infosel.com

__________________________________________________
Internet Gratis
http://www.terra.com.mx/terralibre

 - Resume ELM.doc


Elizabeth Sager had requested that I forward you EPMI's format of EEI master
agreement cover sheet. Please feel free to contact either of us with any
questions you may have.


Guys, as a follow on to our discussion last week:

 a) run the RFP for VN service for Electro - variety of terms, volumes  as
per our discussion - next thirty days - Orlando;
 b) explore the possibility of adding four additional LM's to the Electrobolt
structure as a form of generation mitigation for the Electro short - would
Petrobras be open to this discussion and what would be the last date that we
would have to call NTP to get in on time to make 2003 - Joe;
 c) as much information on the nature of the Electro short and any customer
contractual positions that can be provided to Lavo to start estimating the
value  of the possible straddle - Orlando
 d) re-run the Cuiba MTM model given changing cost parameters, fuel issues
and timing to determine what the possible hit may be and what are the
mitigants - Joe;
 e) re-run budget numbers with correct view on re-organization costs - Joe;
 f) view on financial budget and strategic goals for 2001 and feedback to ESA
- Lavo/Delainey;
 g) update commercial org chart reflecting discussions about the origination
teams - Joe;
 and h) clarification on sale and asset responsibility in SA on a go forward
basis given changing opinions on effectiveness of current organization - Lavo.

Outsourcing contacts:
 a) PetroCanada/Suncor - Eric LeDain
 b) Peoples Gas  - Laura Luce
 c) Virginia Natural Gas - Ed McMichael
 d) Brooklyn Union - Ed McMichael

Regards
Delainey


PEP - weekend support

For assistance with any PEP problems this weekend please contact the Houston
PEP Support desk on
 +1 713-853-4777 Option 4 for 24 hour assistance.


Hello again,
?
Attached are?four  paragraphs that Len Baker, Dennis Powell, Pete Petersman,
and I would like to  discuss with you today. We believe these paragraphs
should be added to the  Garten Commission Report. They have to do  with:

Pooling
Rule  FD
stock options
G4+1

I look forward to a  productive conversation today.
?
all  the?best,
John?
-----Original Message-----
From: Len Baker  [mailto:Len@shv.com]
Sent: Friday, November 17, 2000 11:52  AM
To: Matt Murphy
Subject: FW: FW: FD rules/Garten  Commission

Matt

I am sending you the version with  Dennis Powell's changes, since I agree
with them.

Len

-----Original Message-----
From:?? Dennis  D. Powell [SMTP:depowell@cisco.com]
Sent:?? Thursday, November  02, 2000 2:19 PM
To:???? Len  Baker
Subject:??????? Re: FW: FD rules/Garten Commission

Len,
It looks good to me...I made a couple of minor  suggestions...they are in
italics in the attached draft.? If you don't  agree with them I am ok with
the document as it  is.
Dennis

At 10:54 AM 10/26/2000 -0700, you  wrote:

-----Original Message-----
From:?  Len Baker
Sent:? Thursday, October 26,  2000 10:53 AM
To:??? 'robg@real.com'; 'depowell@cisco.com'; 'Lliming@real.com'
Subject:?????? FD rules/Garten Commission

Rob and Dennis

Here is still another  revision of proposed FD rules.? I tried to reflect an
additonal law  firms input as well as some press converage this week.

Please let me know your reactions.

Len Baker

<<The New FD Rule  2nd revision.doc>>
<<The New FD Rule 2nd  revision.doc>>

<<The NewDDPrfsd FD Rule 2nd  revision.doc>>

 - Garten-RuleFDviews.doc
 - Garten stock options, G4+1.doc
 - Garten -- paragraph re pooling.doc


Julie/Laurel,

After the flurry of e-mails below, I received a package from ITG/Posit Europe
which I subsequently sent to one of you in Houston.  I am not sure who I sent
it to but I am quite sure it got there and was "put through the channels"
because Sara Shackleton has been working with ITG on the contractual issues.
I am now trying to find out if any software was included in that package
because I would like to get the install process going pending the
finalization of the contract negotiations.  Please confirm as to whether or
not either of you are aware of this installation software.

Thanks and regards,
John
---------------------- Forwarded by John Greene/LON/ECT on 26/10/2000 16:46
---------------------------

20/10/2000 08:14
Cyrus Kazak
Cyrus Kazak
Cyrus Kazak
20/10/2000 08:14
20/10/2000 08:14
To: John Greene/LON/ECT
cc:

Subject: AutEx /ITG Europe Platform /Instinet

John,
The contracts for the AutEx system have arrived and are being processed.
Do you still require the Instinet and ITG systems I vaguely remember some
contracts being sent through do you know the status ?
Thanks
Cyrus
x35368

John Greene
08/09/2000 10:25
To: Julie Pechersky/HOU/ECT@ECT, Cyrus Kazak/LON/ECT@ECT
cc: jwhite@itgeurope.com, KSonderb@itginc.com, Laurel Adams/HOU/ECT@ECT

Subject: Re: Tech contact for ITG Europe Platform installation

Cyrus/Julie,

Can you please coordinate with Jamie White at ITG on this install.  I don't
really care how I get it.  I would presume that someone in our IT group
worked with ITG to determine the best delivery method on the original
install.  If so, please use the same architecture.  If not, please consider
the options and if we think there exists a better method than the one being
in Houston, let's upgrade the one in Houston concurrently with the London
install so the two sites are in synch.

This install will initially be for European equity trading only but we may
want to incorporate US equities at a later date as well.  Any activity on
this setup will be governed by the same agreements currently in place as it
will be done on behalf of both ECT Investments and Enron North America until
further notice.

Thanks and regards,
John
---------------------- Forwarded by John Greene/LON/ECT on 08/09/2000 10:03
---------------------------

	Enron Europe

	From:  Cyrus Kazak                           06/09/2000 10:59

To: John Greene/LON/ECT@ECT
cc: Julie Pechersky/HOU/ECT@ECT

Subject: Re: Tech contact for ITG Europe Platform installation

John
Is this for European or US equities or both ?
Do you want to trade using Internet access or would you prefer a fixed link
leased line ?
If you could let me know
Thanks
Cyrus

John Greene
06/09/2000 16:31
To: Cyrus Kazak/LON/ECT@ECT
cc: Julie Pechersky/HOU/ECT@ECT, Jamie_White.ITGE@itginc.com,
KSonderb@itginc.com

Subject: Tech contact for ITG Europe Platform installation

Cyrus,

Can you please arrange for this installation on my desktop.  Please
coordinate with Julie Pechersky and Jamie White to ensure that my setup has
the same functionality as Selena Gonzales in Houston.

Thanks and regards,
John
x3-5534
---------------------- Forwarded by John Greene/LON/ECT on 06/09/2000 16:31
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  KSonderb@itginc.com                           06/09/2000 09:43

To: jgreene@enron.com
cc: Jamie_White.ITGE@itginc.com

Subject: Tech contact for ITG Europe Platform installation

Hi John,

Please have your technology person contact Jamie White at jwhite@itgeurope.com
(670-4200 in London) to schedule an installation of the ITG Europe Platform.
Good luck getting the office set up!

Regards,
Kathy 617-692-6500


Tim, call Dick Jenkins about this capacity.  His number is 3-5136
---------------------- Forwarded by Chris Germany/HOU/ECT on 06/26/2000 05:05
PM ---------------------------

Scott Goodell@ENRON
06/21/2000 01:07 PM
To: jporte1@columbiaenergygroup.com, Cdalpho@columbiaenergygroup.com
cc: Chris Germany/HOU/ECT@ECT
Subject: TCO Capacity

The clock is running.  The following contracts were bid on the Columbia Gas
EBB Today.
Per the ROFR agreement we must notify TCO by Wednesday July 6 @2pm EST (15
calendar days).
Scott


We are a small co-generation facility in North Carolina that will be required to meet the federal NOx allocations beginning with the 2003 ozone season. One option is to look at a NOx trading. I would like to discuss the NOx trading program, the process and terms with Enron.

R. P. Wrigglesworth
Kannoplis Energy Partners, LLC
One Lake Circle Drive
Kannapolis, NC  28082
rwrigglesworth@peregrinecorp.net


I believe all of you received a request from Jeremy Blachman to hold the
afternoon of January 10th open for an off-site to discuss the manner in which
RAC and Research assess/test the credit quality of EES transactions.   I
realize that RAC and EES have had many discussions as to the methodology, but
it might be helpful for all of us to understand the actual derivation of some
of analysis.    Please call me with any questions or comments at ext # 30349.

The agenda will be as follows:

12:00 - 1:00 Lunch
1:00 - 3:30   Presentations
3:30 - to close  Discussion

RAC/Research Presentations

The following topics would be of interest to EES:

1 -  The derivation of default probabilities including  (Research)
 - - a discussion of the actual mathematical process,
 - - the analytics behind why these computations are deemed the best for
Enron,
 - - a comparison to historic default rates and why they differ (in respect
to actual default rates, shape of the cumulative default curves etc.

2 -  The volatilities which are used to determine possible loss scenarios for
the commodity portion of EES deals including (Research)
 - - the selection of curves
 - - the application of those curves to the actual credit reserve model and
 - - why these particular tests are applicable to our products.

3  -  The recovery rates used in the credit reserve model.   How are these
figures derived? (RAC)

4  -  How RAC and Research have adjusted the credit reserve model to
accommodate unusual aspects of the deal including  (RAC)
 - - promotion payments,
 - - accounts receivable
 - - committed capital
 - - and other factors

EES also understands that some of you may be familiar with our processes,
however, there are perhaps areas that you would like to understand more
fully.   Please tell us what you would like to hear from us.

Also, RAC has sent us the credit reserve model and I have seen completed
models.   Perhaps prior to our meeting on Wednesday,  someone from RAC and/or
Research could sit with me and someone from Phil Layton's group and go
through the process of how the various pieces are put together.


The report named: Power East P/L <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=17&report_name=Power+East+P/L&category_cd=5&category_name=EAST&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=10/25/2001>, published as of 10/25/2001 is now available for viewing on the website.


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Ken -

On your suggestion, Gene Lockhart and I met with Mick Seidl about his new
venture, MyHomeKey.com. Mick has put together an interesting business based
on becoming the nation's leading vertical home services portal.  Of
particular note is their aggressive creation of an on-line home maintenance
scheduling system.

MyHomeKey.com has been funded in large part by TXU and KeySpan Energy.   As
you well know these utilities are some of our primary competitors.  With this
in mind we discussed some potential ideas.  Mick is to check to see if they
can work through their exclusivity agreements and get back to us.

I will keep you informed of the progress.

I hope they finally finished the Huntington Condo and you are enjoying it.
Please give my best to Linda.

Tim


just for that - you have to go get a beer with me. asshole.

-----Original Message-----
From: Arnold, John
Sent: Friday, October 12, 2001 4:22 PM
To: Allen, Margaret
Subject: RE: did you like the stew?

I hated it

-----Original Message-----
From: Allen, Margaret
Sent: Friday, October 12, 2001 4:00 PM
To: Arnold, John
Subject: did you like the stew?


Attention POWER REPORT Readers: Go to
http://www.powermarketers.com/prdaily.htm to view today's edition with direct
headline links to each story.]

======================================================================
The Industry's Preferred Source For Breaking Energy News And Information
http://www.powermarketers.com
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T H E P O W E R M A R K E T E R S .C O M P O W E R R E P O R T

Today's Headlines From POWERMARKETERS.COM

Subscriptions to The PowerMarketers.com Power Report are free - you will
never be charged.

You may redistribute this e-mail without change. You may not redistribute
stories.

To register for a free subscription, point your browser to:
http://www.retailenergy.com/pma/dprreg.htm

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

Attend the Power Marketing Association?s annual spring meeting:

          POWER MARKETS 2001: CRISIS AND OPPORTUNITY

                March 14-16, 2001 Las Vegas

http://www.pmaconference.com/0103Agenda.pdf

EVERY CRISIS HOLDS OPPORTUNITIES:

Power shortages boost merchant power, distributed generation, peak shaving,
real-time pricing and energy management. Some states are delaying their
retail choice programs, but others are moving ahead, confident that they have
benefited from the lessons learned by the pioneering jurisdictions. Electric
price volatility drives growth in the risk management business.

Credit and cash flow are squeezed, but financial products provide solutions.
Gas price volatility is a reminder-- coal was and remains the great source of
energy for our country. Dot-coms seem to have been exposed as just ordinary
businesses-- but online trading in energy is the single most robust area for
transactions on the net. The IPO market hasn?t been kind to technology
stocks-- but it likes energy issues. Broadband trading has been slow to take
off, but powerline telecom may solve the real problem-- access to "the last
mile".

Please join us at the Power Marketing Association?s annual spring meeting,
"POWER MARKETS 2001: CRISIS AND OPPORTUNITY" March 14-16, 2001 Las Vegas, for
presentations on these topics and more!

Warmest Regards,
Glenn Lovin
Executive Director

http://www.pmaconference.com/0103Agenda.pdf

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

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--------------------T O P S T O R I E S--------------------

Top Stories (January 29)

BUSH DIRECTS ENERGY PLAN
President Bush, voicing alarm that California's energy crisis is spilling
over its borders, directed Vice President Cheney and several Cabinet members
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CALIFORNIA GOVERNOR FAVORS FINANCING INTEREST IN UTILITIES
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A 1,000-megawatt power plant in Guadelupe, Texas has begun commercial
operations, its owners said Monday.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
01/29/eng-djn/eng-djn_144057_46_3356754020788

EL PASO ENERGY COMPLETES MERGER WITH COASTAL, CREATING THE WORLD'S LEADING
NATURAL GAS COMPANY
El Paso Energy Corporation announced today that it completed its $24 billion
merger with The Coastal Corporation after the Federal Trade Commission
cleared the way by approving for public comment the consent agreement
governing the merger.
http://199.97.97.163/IMDS%PMANAT0%read%/home/content/users/imds/feeds/comtex/2
001/01/29/pr/0000-4866-.dstfront_05

-TENNESSEE OFFICIALS VIEW CALIFORNIA POWER CRISIS AS OPPORTUNITY FOR GROWTH
As the lights blink on and off in California, economic developers hope the
Golden State's electricity drought will draw manufacturers to power-plentiful
Tennessee.
http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/writersd
esk/2001/01/29/eng-powerm-000001/eng-powerm-000001_170658_145_178116061725

----------------------------------------------------------------------
DOW JONES NEWSWIRES
----------------------------------------------------------------------
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PG&E, Edison Up -3: Wts Would Cap Hldr Upside -Analyst

PRESS RELEASE: Green Mountain Power On Moody's Review-Up

Green Mountain Power Now On Moody's Review-Up Vs Down

PRESS RELEASE: Calif Stranded Bonds Not Affected: S&P

PSEG, Panda JV's 1,000-MW Texas Power Plant On Line

Calif Stranded Bonds Not Affected By Energy Crisis: S&P

PG&E, Edison Intl Up-2: Bankruptcy Threat Lower -Analyst

PG&E, Edison Intl Shrs Up On Calif. Lawmaker Plan >EIX

Cantabrico Says Bidding Process "Positive" >E.HIC

AES To Purchase Remaining 4.3% Of GenerChile For $59.7M

US Weather: Severe Storms Expected In South; Plains Snow

TXU Europe/Servista -2: Servista Sees 1H Germany Launch

RWE/Cantabrico -2: RWE Declines Comment On Counter-Bid

RTE/Awards/Contracts -3: Enron, Endesa, TXU, EDF Bid

RTE/Awards/Contracts -2: 1-Yr Allotments To Be Auctioned

RTE To Auction 850 MW Remainder In Annual Auction Feb. 12

RTE Awards 3-Yr Contracts For France-To-UK Elec Capacity

RTE Allocates A Total Of 650 MW To Two Companies

RWE Criticizes Hostile Bid For Cantabrico - Report

TXU Europe Unit In Servista.com Energy Supply Deal

FREE TRIAL: For a free trial of the Dow Jones Energy Service go to
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1-800-223-2274.

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N A T I O N A L
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Bush Sets Up Energy Task Force

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El Paso Energy Completes Merger with Coastal, Creating The World's Leading
Natural Gas Company

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Launch Major Environmental Initiative in Toronto, Peterborough And Mississauga

Management`S Discussions: 10-K, Massey Energy CO 2 of 3

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-Tennessee Officials View California Power Crisis as Opportunity for Growth

Sierra Pacific, Nevada Power Offer Emergency Plan to Assure Reliable,
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Penn Virginia Announces Additional Natural Gas Hedges for 2001

1000 Mw Guadalupe Power Plant Begins Commercial Operations; Plant Constructed
in under 18 Months

Hawaii's Largest Electric Utility Powers Up with Vignette; Hawaiian Electric
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Santa Fe International Corporation to Present at Energy Conference

Bridge Update-Commodities: Energy Leads Markets Into Tailspin

Enterprise Acquires Interests in Natural Gas Pipelines

Environmental Excesses Have Us Starved for Power

El Paso Energy Announces New Board of Directors

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Advisory/Resource: California Energy Crisis And Energy Alternatives; Grid
Survey Report Provides Overview of Alternative on-Site
Energy Sources, Implications of Deregulation

Remarks by the President at Energy Policy Meeting Jan. 29

Electrical Poker Game Begins

Parks Fueled by Green Energy

Online Auction Powers California Energy Recovery

Northwest Bailing Out Power Hogs

Emergency Power Systems

A Few Reminders About Power Factor Improvement

Forming a New Power

New York Could Experience California-Type Energy ShortagesIndustry Expert
Says Similar Policies Could Leave the State Short on Electricity

Repeats: Energy Volume And Open Interest Totals-Jan 29

Utility Companies Weather Winter Storms

Nem Adopts National Energy Technology Policy

Pemex Targets Major Increase in Natural Gas Production to Meet Soaring
Domestic Demand

Access Tool AIDS Seasonal Power Clean-Up

Mexico's Natural Gas Pricing Crisis: Will Confrontation Lead to Policy
Liberalization?

Jefferies Upgrades Reliant Energy to Buy from Accum (Rei)

Bush appoints task force on California crisis, broader energy issues

Mount Dakota/Sovereign Chief Ventures Letter of Intent Signed for Five Well
Natural Gas Project

New Carb Ruling on Electric Vehicles Boosts Stuart Energy's Hydrogen
Infrastructure Initiatives-- California Maintains Requirement for Automakers
to Sell Electric Vehicles by 2003 --

Processors Lament Unstable Power

Bush Directs Energy Plan

Energy Update/Los Angeles Department of Water And Power Issues Daily Energy
Update for Monday, Jan. 29, 2001

Energy Company Will Invest $6 Billion in Next Four Years

Clean Air Trust: Clean Air And Energy -- the Big Myth And the Reality

Effort to Recover Utility Fees Blocked

Sapient Energy Corp. to Pursue Strategic Alternatives

Northwest May Hire Firm to Help Rein in Energy Costs Low Temperatures And
High Gas Prices Put Strain on Budget; Firm Helped Other School Districts

American Power Conversion Integrates with Johnson Controls' Metasys(R)
Building Automation SystemFacility And Building Managers Can Now Control And
Proactively Manage Apc Symmetra(R) And Silcon(TM) Power Protection Systems
Via The Metasys Building Automation System

Enbridge Inc. Takes Steps to Minimize Impact of Rising Natural Gas Prices

Albertson's Expands Conservation Effort Power Use, Too Regulators Urge Other
Idaho Firms to Follow Example

President Extends Orders Ensuring Power to California Power Crunch

Plugging Green Power

Beacon Power's Flywheel Energy Technology Used by San Diego Gas & Electric

Convergent Group And Imedeon Form Strategic Alliance to Offer Wireless,
Web-Based Utility Business Solutions

Enermetrix Raises $35.5m in Private Equity; Company Geared to Fuel Growth And
Deliver New Solutions to Volatile Energy Markets

Telemetrix Begins Trials with City of Holland, MichiganTelemetrix Wireless
T3000 E-Telemetry Data(TM) System to Be Tested on City of Holland Electrical
Meters.

Lodestar Corporation Receives Approximately $29 Million Investment from
Ocm/Gfi Power Opportunities Fund, L.P.

Energy And Biotech Ipos on Tap

Energy Bills Climb Higher with User Tax / PG&E Customers Face Double Whammy

Seabrook Nuclear Power Station Selects Maximo(R)Maximo to Play Key Role in
Seabrook's World Class Performance Initiative

Feature/Home Grown? U.S. Consumers Show Increasing Interest in Generating
Their Own ElectricityNew National Consumer Survey Finds Higher Home Power
Use, Environmental Values & Desire for Independence; Threat of California
Blackouts May Be "Defining Moment" for New on-Site Power Generation Technologi

Calif. Remains under Power Alert

Higher Electric Bills Related to Cold Weather Snap

Power Plant Sparks a Border Battle Coweta Residents in Court Today Trying to
Stop Facility Being Built in Nearby Heard.

Letters: Look Into Facts About `Shortage' of Natural Gas

Natural Gas Companies Can't Handle Rash of Calls

----------------------------------------------------------------------
I N T E R N A T I O N A L
----------------------------------------------------------------------
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DAVOS EU's de Palacio sees Russia energy link improving supply security

Minister: Hydro Concessions Freeze Lost US$1.5bn Investments - Peru

Generation Increases 4.1% in 2000 - Chile

Enersul to Develop 485.5mw in Small-scale Hydro - Brazil

OSC Re Equatorial Energy Exemptive Relief Applications

Erosion of A High-Carbon Steel in Coal And Bottom-Ash Slurries

World Energy Council Names New Chairman

Eastern Energy to Supply Servista

Top Energy Summaries - Monday, January 29, 2001 - 12:26 PM

Design Power, Inc. Announces New Customers for Front-End Plant Design Software

Tyco Electronics: Tyco Electronics Introduces New Highly Efficient And
Compact Line of 30w-40w Power Modules

Cambridge Energy Corporation Readied Development of Its Donner Field in
Southeastern Louisiana

Israel to Import Egypt's Natural Gas, Israeli Companies Protest

Top Energy Summaries - Monday, January 29, 2001 - 8:58 Am

Top Energy Summaries - Monday, January 29, 2001 - 7:46 Am

India quake knocks industrial wind out of prosperous Gujarat state

Ues of Russia to Invest in Primorye Coal Industry.

Japan's Kansai Electric to Supply Mitsubishi Heavy with LNG

----------------------------------------------------------------------
KRT DAILY ENERGY NEWS
----------------------------------------------------------------------
Access stories online at http://www.powermarketers.com/pma-krt.htm

-Tennessee Officials View California Power Crisis as Opportunity for Growth

The Record, Stockton, Calif., Eric Grunder Column

California Commission Suspends Fines for `Interruptible' Power Usage

The Philadelphia Inquirer Andrew Cassel Column

California Governor Favors Financing Interest in Utilities

Plano, Texas, Official Pitches City's Energy Supply to California Firms

California Groups Seek to Assign Blame for Energy Crisis

Economists See Rate Hikes from California Utilities

Water Costs Trickle to Ontario, Calif.-Area Customers

Retired Corona, Calif., Power Exec Remains in High Demand

Opinion: Small Business Foots Bill for California Power Mistakes

The Business Press, Ontario, Calif., Inland Empire Focus Column

Belleville, Ill.-Area Small Businesses Raise Prices to Cover Natural Gas Bills

----------------------------------------------------------------------
REUTERS
----------------------------------------------------------------------
Access stories online at: http://207.32.82.57/news/ElectricPower.html

Northern Alternative to buy 12 units from Pratt/Whitney

El Paso names board following Coastal approval

Enron claims first commodity data storage deal

Kharafi group wins $390mln Kuwait BOT sewage plant

W.House energy talks break no new ground on Calif.

Bush to spotlight faith-based groups, power crisis

UPDATE 1-California utility shares steady,trade slows

WRAPUP 1-Calif. under power alert as Bush meets advisers

El Paso Energy gets antitrust okay in Coastal deal

Enron considers developing Bahamas terminal - WSJ

Saudi Alujain plans $425 mln iso-octane project

El Paso says owed $50 mln by Calif. utilities

German RWE's Biblis A nuclear plant back on stream

California utility shares rise after upgrade

Duke, KeySpan propose Conn.-N.Y. gas pipeline

1,000-MW gas power plant begins operation in Texas

UPDATE 1-FERC orders Calif PX to enforce power cap

El Paso Q4 earnings jump with higher gas prices

FERC orders Calif PX to enforce power price cap

Canada spot natgas weakens on seasonal weather

UPDATE 1-El Paso earnings soar on unregulated-businesses boost

Taiwan anti-nuclear protester sets himself on fire

Indian nuclear power plant withstands quake

INTERVIEW-Spain's Rato says mulling giant power merger plan

US AES launches tender for rest of Chile Gener

PPL files shelf with SEC for $800 mln in debt, equity

AES fourth-quarter earnings rise sharply

RESEACH ALERT - PG&E, Edison International raised

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> -----Original Message-----
> From: Granville, Sue
> Sent: Wednesday, December 13, 2000 9:01 AM
> To: Jacob, Sasha
> Subject: Project Stanley
>
> Report for December 13, 2000
>
> report
>  <<Dec13.doc>>
> Articles
>  <<Dec13.txt>>
>
>
>
>

*******************************************************************
This email message has been swept by MIMEsweeper
for the presence of computer viruses

Ce courriel a fait l'objet d'un balayage contre les virus
informatiques au moyen du logiciel MIMEsweeper
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 - Dec13.doc
 - Dec13.txt


John Knight
box1738 2000 North Pkwy
Memphis, TN 38112
knightrider2008@yahoo.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

John Knight


---------------------- Forwarded by Sheila Glover/HOU/ECT on 02/02/2001 10:48
AM ---------------------------
From: Clement Abrams@ENRON on 01/07/2001 09:14 PM
To: Sheila Glover/HOU/ECT@ECT
cc:
Subject: Re: Morgan Stanley Letter of Guarantee for Enron North America

Sheila,

Following is the form of Enron Corp. letter of guarantee.  Please call me if
you have any questions.

Clement

	Sheila Glover@ECT
	01/05/01 06:08 PM

		 To: Clement Abrams/Corp/Enron@ENRON
		 cc:
		 Subject: Morgan Stanley Letter of Guarantee for Enron North America

Clement,
Just a reminder to please forward to me a copy of Enron's Letter of Guarantee.
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 01/05/2001 06:03
PM ---------------------------

	From:  Sheila Glover                           01/05/2001 01:16 PM

To: Clement Abrams/Corp/Enron@ENRON
cc:
Subject: Morgan Stanley Letter of Guarantee for Enron North America

Clement,
As per my voice mail.
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 01/05/2001 01:10
PM ---------------------------

	From:  Sheila Glover                           01/05/2001 08:31 AM

To: William S Bradford/HOU/ECT@ECT, Mary Perkins/HOU/ECT@ECT
cc: Jeff Kinneman/HOU/ECT@ECT, Tom Doukas/NA/Enron@ENRON
Subject: Morgan Stanley Letter of Guarantee for Enron North America

Bill and Mary,
Who can I talk to to discuss gettting a letter of guarantee for the Credit
Trading Portfolio at Morgan Stanley Prime Broker?  The Margin Requirement on
the Credit Trading Portfolio from Morgan is 50 - 100% of Market Value,
resulting in a margin requirement of $51 million for this portfolio.  This is
very high compared the the 15% margin requirement on the Long/Short Equity
securities.

Jeff wants to see if a  Letter of Guarantee may be utilized to increase our
leverage on the Credit Trading Portfolio in the Enron North America entity.

Please advise who I can follow-up with.  I would like to provide a copy of a
form Letter of Guarantee if possible.

Thanks. Sheila
3-3210.


Tom,

Can you send me additional copies of the information about the WeBI program?
I want to distribute it internally.

Vince


Hi again,

	Some of you have been kind enough to supply me with information that can be used for the strategic plan (I am writing for Duffie).

	To assist you in gathering further information, it was suggested that I forward a preliminary outline of this strategic plan to your attention.

Thanks in advance for your assistance,
Iris

Table of Contents

Executive Summary
Highlights

Introduction
What is Enron Credit?
What is the business plan?
What are the products planned?
Current status: what we currently trade, how we price.
What new models we need to achieve goals.
What attempts are being made internally and what external commercial sources are available.

SWOT Analysis
Strengths
Weakness
Opportunities
Threats

Pricing Approach
A diagram illustrating how various models are tied together for the overall objective of coming up with final CDS and DBS pricing.
Brief description of each model shown in the diagram.

Public Firm versus Private Firm
What we have as first cut for modeling primarily public firms.
Our understanding on public versus private firms' credit risk characteristics, data availability and possible modeling approaches.
Our proposed approach/plan towards development of private firm model, including comparative analysis, model development, etc..

Portfolio Level Business Feasibility Analysis
Accounting Breakeven Analysis
Portfolio Theory

Alternative (Short term) Measures
KMV' Private Firm  Model
Moody's RiskCalc Model for Private Firms
Comparison of KMV vs Moody's Private Firm model

Future Strategy
Development of private firm pricing models (short- and long- tenor models0
Completion of Parent/Subsidiary Model
Risk Management Model for ECT Business

References


Thanks for your prompt response.  I really hope that you can convince Mark
Taylor that transferring the financial confirmations to Calgary is the right
thing to do.  As you recall, we have been down the road of improving the
service to Calgary previously.  This seems to work in the short term, but as
soon as there is turnover in the group, which unfortunately seems to occurs
regularly, the service level starts to drop.  I would like you to consider
the following arguments in favor of transferring this function to Calgary
when you meet with Mark.

First, when the recommendation first came out to transfer to financial
confirmations to Calgary, Mark Taylor's concern was our legal staff.  At that
time, we had one attorney  who did not have expertise in the financial area.
We now have three very competent attorneys.  Greg Johnston has spent time in
Houston and has recently attended an ISDA training course.

Second, there are problems with the confirmations that are prepared by
Houston and with the process itself.  At the time of the Project Doorstep
audit, we provided you with a list of confirmations that had not been sent
out after we had approved them.  As you saw from my memo, confirmations are
periodically sent out without our review.  Also, we have found mistakes in
the confirmations themselves, including the contract date referred to in the
confirmation.  The first two issues cause me a lot of concern.  Some of the
confirmations sent out without our review were wrong, which is a big
problem.  We had a large number of confirmations that were never sent out,
which is even a bigger problem.

Third, there is no real additional control in the process by having Houston
generate the confirmations.  If you think about what the process is, the
transactions are done in Calgary, we fax the deal sheets to Houston, the
confirmation is generated using a template that has been pre-approved by
legal, we review and approve the confirmation and execute them on-line if
done by Enron Canada Corp., or send an e-mail if the Enron Entity is Enron
North America.  Houston faxes the confirms to the counterparty.  If the
counterparty is a trading company, Houston follows up on the status of
execution.  For all other entities, the Calgary office is now doing the
follow-up.  All these transactions are currently settled out of the Calgary
office.  If the transactions were done in Calgary, we would be using the same
pre-approved templates that Houston is using.  It is not clear to me where
there is any additional control by having the confirmations done in Houston,
or, conversely, why there is any additional risk in having Calgary prepare
our own financial confirmations.  If there is some perception that an element
of risk exists by having Calgary prepare the financial confirmations, why are
we allowed to prepare the physical confirmations?

Fourth, there is a duplication of effort by having the preparation done in
Houston while the review process is done in Calgary.  Currently, Houston has
staff handling the Calgary transactions.  Because the confirmations are
reviewed and approved here, I have similar staff who print the confirmations,
route them for review, update TAGG, notify Houston when the review is
complete, and then follow-up with either Houston or the counterparty on
issues or execution.  We are currently following up on all non-trading
company financial confirmations.  So, we are both printing and reviewing the
transactions, following up with the counterparties, and filing these
documents.  As I stated before, Calgary could assume full responsibility for
the financial confirmations without adding any staff.

Fifth, there is an increase in the amount of time needed to get the
confirmations to the counterparty by having the preparation done in Houston.
Because of the number of times the information has to go back and forth, the
confirmations rarely get to the counterparty within 24 hours of the
transaction being done.  We feel this time line could be met if we did the
financial confirmations here.  This reduces risk for Enron.

Finally, because we are a small office, I need the opportunity to develop my
existing employees so that they don't feel that they need to leave the
company in order to broaden their knowledge base.  Given the skill sets of
the documentation group, it is difficult for them to move into other areas
such as risk, logistics, or accounting, so it is important that I am able to
keep them challenged within the documentation group.  Because we review the
confirmations, the basic understanding of the financial transactions already
exists.  However, I know that my employees would appreciate having full
accountability and responsibility for this function, and have the opportunity
to develop more expertise in the area of financial confirmations.

As a final note, I report to you.  I am fully accountable to you for ensuring
that all the necessary controls are in place to handle this function
properly.  It would mean a lot to me, as well as the documentation staff, to
get your vote of confidence in making the case to legal to transfer this
function to Calgary.  Mark Taylor has never met me or my staff, yet I get the
impression that he doesn't think we are capable of handling this function.  I
hope that you will be able to set him straight on this.  He just needs to
look at the results of our annual audits to see the level of competency that
exists here.

If you have any questions or need any additional clarification on anything in
this memo, please let me know.  As you can see, the Calgary office feels very
strongly about this issue, including Rob Milthorp and Peter Keohane.  Please
let me know how your meeting with Mark goes.

Thanks,
Peggy

	Enron North America Corp.

	From:  Sally Beck                           07/19/2000 04:57 PM

To: Peggy Hedstrom/CAL/ECT@ECT
cc:
Subject: Re: Financial Confirm NP6050.1

I got your message and I have asked Brent to get with me when he is back in
the office on Friday ( he has been in New York re: MG since Monday night).
Together we will do two things:  (1) devise a foolproof plan to insure an
excellent level of service to Calgary starting immediately, and (2) work with
Mark Taylor to understand his concerns over the movement of confirmation
preparation to Calgary and to eliminate his concerns.  We will keep you
posted on both items.  --Sally

	Peggy Hedstrom
	07/19/2000 12:02 PM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: Financial Confirm NP6050.1

Just so that you are aware, we continue to have problems with the financial
confirm process from Houston.  On more than one occasion, confirmations have
been sent to our counterparties prior to review by Calgary.  Attached is the
most recent one.   We have been assured over and over that this will not
happen again, however, it continues to happen.  Luckily, this confirmation
went out without any errors in it.  I know that you are very busy, but  is
there any way that you can make it a priority to get resolution on moving the
financial confirmations to Calgary.
---------------------- Forwarded by Peggy Hedstrom/CAL/ECT on 07/18/2000
02:10 PM ---------------------------

	From:  Larry Joe Hunter                           07/18/2000 01:15 PM

To: Peggy Hedstrom/CAL/ECT@ECT
cc: Diane Anderson/NA/Enron@Enron, Andrea R Guillen/HOU/ECT@ECT
Subject: Re: Financial Confirm NP6050.1

Peggy,

As far as I can tell, we simply screwed up on this deal.  Diane Anderson, who
was covering for Angie last week, was using my name to sign off on some other
Canada deals which were approved from last week then signed and sent this one
by mistake.  We're terribly sorry for the mistake.  Call me if you want to
discuss.

Thanks,
Joe

	Peggy Hedstrom
	07/18/2000 09:55 AM

To: Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: Financial Confirm NP6050.1

Since Dianne Seib is currently on vacation, I am reviewing the financial
confirms.  For the referenced confirm, the status is currently showing 'Sent
to Counterparty", although our records show that we have not yet approved the
revised confirm.  Can you check on this for me and let me know whether this
was sent prior to receiving Calgary's approval?  If you have any questions, I
can be contacted at ext. 6753.
Thanks
Peggy


I'll be in Houston so no need to dial me in!  DF

	From:  Emily Sellers                           05/24/2000 04:00 PM

To: Louis Soldano/ET&S/Enron, Drew Fossum/ET&S/Enron@ENRON, Dorothy
McCoppin/FGT/Enron@ENRON, Shelley Corman/ET&S/Enron@ENRON
cc: Jan Cobden/Corp/Enron@Enron, Peggy Phillips/FGT/Enron@ENRON, Martha
Benner/ET&S/Enron@ENRON, Ruth Mann/ET&S/Enron@ENRON

Subject: Michael's Direct Reports' Meeting

A  Direct Report's meeting has been scheduled for Wednesday, May 31 at  10:30
a.m., instead of June 13 as originally scheduled.  Please mark your calendars.

Drew:  Michael will call and conference you in as usual.


Please note that my E-Mail Address has changed to :

Kirbynrg@swbell.net

Thanks

Kirby


Thanks for the heads up.  I am passing it along to our commercial leader for
that part of the world, Eric Shaw.   mcs

From: Jeff Dasovich@ENRON on 11/01/2001 15:54 CST
Sent by: Jeff Dasovich@ENRON
To: Mark Schroeder/LON/ECT@ECT, Susan J Mara/NA/Enron@ENRON
cc:

Subject: Re: Eastern European Opportunity

Greetings Mark:

Any interest?

Best,
Jeff

	"Daniel Douglass" <Douglass@ArterHadden.com>
	01/11/2001 03:18 PM

		 To: <jdasovic@enron.com>, <susan_j_mara@enron.com>
		 cc:
		 Subject: Eastern European Opportunity

Jeff and Sue,

I have a potential lead which may be of interest to Enron.  However, I don't
know if you have any interest in Eastern European projects.

Who would you suggest talking to with regard to a Bulgarian power plant
development?  It involves a 25 year requirements contract with the national
energy company, the retrofit of two existing units and building three new
hydro units.  Total around 450 MW.  Party with exclusive deal with government
wants to deal with an engineering company who could finance and do work ( @
$160 million).  Any suggestions on how to proceed?  My guess is that few
engineering companies are into financing these days, particularly in emerging
nations.  However, what are your thoughts/suggestions?

Thanks, and Happy New Year!

Dan


Krishna,

Niclas introduces himself as an associate in the Research Group.
I think we should clarify his status.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/15/2000
05:53 PM ---------------------------

"Michael SCHILMOELLER" <Michael_Schilmoeller@pgn.com> on 08/15/2000 11:08:06
AM
To: NOTES:Niclas.Egmar@ENRON
cc: vkamins@enron.com, Grant_Masson@pgn.com, Stinson_Gibner@pgn.com
Subject: Re: Info help.

Hi Niclas,

I am in the middle of preparing some presentations right now, so it might be
more productive to speak by phone (503-464-8430).  Please leave your number,
if you get my voicemail.

To get you started, you might see if you can get access to the FERC GADS
database of plant forced and planned availability.  It seems others in
Research have asked about this, so you may already have this at your
disposal.  The EIA has a good electronic database of plant FOR and POR
available for free (http://www.nerc.com/~esd/).  I know Alexios in RE/EES has
this.  If you wanted to do it the hard way, you can also ask Jaison to access
the EPA's CEMS data he has summarized on a machine there in Research.  It
contains hourly plant operation for every unit over about 50MW, which you
could aggregate up.

The WSCC 10-year forecast of new plant construction and loads is a good place
to start for plant construction information, but suffers from some notorious
"self-reporting" error.  It is available in pdf form from the web site
http://www.wscc.com/.  Other sources that should be more near-term, but more
accurate are the CEC inventory of plants (http://www.energy.ca.gov/) and the
BPA Whitebook (http://www.transmission.bpa.gov).

As far as basic economic data is concerned, you can either rely on the
reported utility forecasts for loads, or you can go to fundamental data.  The
ultimate source of the census data collected by the US Dept of Commerce,
which you can buy on CDROM for cheap.  It would have this kind of information
by SIC code, by ZIP code.  You may also have access to one of the economic
forecasting businesses (Wharton's WEFA, DRI, etc.)  They have this in highly
digested and complete form.

BTW, Tim Heizenrader, who runs Fundamental Analysis and Research on the West
Desk, is a sharp cookie and should have all this under control.  Is your
client aware of this resource?

Give me a buzz and we can talk more,
Michael

>>> Niclas Egmar/HOU/EES@ENRON 08/14/00 12:49PM >>>
Michael,

I'm an analyst in the research group. I would like your help with finding
some information specific for the West Coast. A new analyst on the West Power
desk needs information on planned outages and planned new generation. He is
studying the long-term fundamentals of electricity volatility on the West
Coastso so he also needs info on housing starts, computer sales or industrial
production figures for computer manufacturing, growth of start-up companies,
and population stats.

Any help in finding the needed info would be greatly appreciated. Contact me
or Daniel Kang (new analyst).

Niclas
 - TEXT.htm


I have to confess to having Illinois counsel involved.
Kay

Mark Greenberg
12/06/2000 09:35 AM
To: Douglas Fuehne/NA/Enron@ENRON
cc: Kay Mann/Corp/Enron@Enron

Subject: Peoples Energy

Doug -

Pursuant to our discussions, attached is a copy of the revised letter for
Peoples.  I have modified it to fit the current proposal and added some
language believed to be necessary at this time.  You will also note that
there is language indicating an assignment of this receivable to
CommodityLogic.  There will need to be a document between ENA and CL to
reflect this on an internal basis.  I will work on something later today so
that we can properly document this matter.

Please look over the attached and let me know your comments.  I have copies
Kay since she was responsible for reviewing the first letter and welcome her
comments also.

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


Start Date: 1/27/02; HourAhead hour: 17;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012717.txt


Hi Louise,
Attached is the revised schedule with everyone's updates (except for Duran).

If you a have a minute, I'd like to walk through with you some minor differences in what we report versus what commercial sent us for this exercise.

 -----Original Message-----
From: 	Hardy, Trey
Sent:	Thursday, July 05, 2001 8:10 PM
To:	Killen, Faith
Subject:


Herewith a few ideas for the October meeting in London, some of them
after checking with Paul Portney and with Pankaj. I offer these very, very
preliminary thoughts just to start you thinking - do you want your UK
colleagues on the program; do we want some ancillary events? After getting
your views on questions such as these, I can make more definite suggestions.
I certainly think that we should convene a few hours before the opening
dinner so that the advisors can have a tour of the building and the
facilities. Also, I am hoping that Steve will leave some time on this trip
for a tour of the new BA headquarters - very innovative.
We should consider doing something on the global warming question from the
viewpoint of the Europeans. Start with three recommendations on the political
side that Paul received from David Victor of the Council on Foreign Relations
(characterized as "a VERY smart guy on climate"):
Tony Brenton (Deputy chief of mission, UK embassy in DC.  Has been on UK
climate delegations for a decade; smart and lively; pragmatic; insightful).
Bo Kjellen (Swedish head of delegation; knows European politics inside out;
big figure in Europe).
Tubiana, Laurence (Conseil d'Analyse Economique, France; knows the issue and
can speak to French position, but may not have the gravitas of Kjellen or
Brenton).
Among other ideas (I have winnowed out several) is a guy named Liam
Salter at Climate Network Europe. Brussels based, but relatively junior. Paul
also recommends a woman by the name of Laurence Tubiana, an economist in the
French government's equivalent of the CEA; she has a reputation as a good
presenter and a good economist.
WOULD YOU PLEASE CHECK THESE FOLKS OUT WITH YOUR LONDON PEOPLE, AND GET
ADDITIONAL NAMES FROM THEM. THE GOAL IS TO GIVE ALL OF US A PERSPECTIVE ON
THE EUROPEAN VIEW ON ENVIRONMENTAL ISSUES - UNLESS YOU THINK THAT NOT A
USEFUL TOPIC.
I turn now to Pankaj's suggestion, which I transmit verbatim: "I remember
promising to scout around and see if there were a European whom it would be
interesting to invite to talk to the Enron International Advisory Council
about the (non) convergence of governance structures in Europe, particularly
on the Continent, to the U.S. model.  I got the following names from Jay
Lorsch (apparently all members of the committee steering a multifaculty
Harvard business School project on governance in comparative perspective) as
possibilities.  Jay suggested that Sihler would be best (former CEO of
Henkel, very senior),  Peter's second best (apparently, chairman of Amsterdam
Stock Exchange now) and Smith - formerly Managing partner at Price Waterhouse
Coopers - would be the most junior of the three.  I don't personally know any
of the three."
Now some ideas of my own, again acting on the assumption that we want a
two-way educational dialogue - to give your folks in London and Europe a
run-down on the situation in the US, and the US contingent a better
understanding of how European policymakers view the issues we all face.
1.Bill Kristol on the US political scene, in which there is great
interest here, and great misunderstanding of the Bush administration. We
might also consider inviting Larry Lindsey or some other Bush person if
allowed to do so.
2. Someone on the European view on global warming (see suggestions above).
3. Energy regulation in the UK. Callum McCarthy.
4. Economic outlook. Gavyn Davies (usual talk).
5. What went wrong in California (great interest in that over here) and
how to fix it. Steve could do this, or you could invite Bill Hogan (just
joking) or the chairman of FERC if we are allowed to pay his way.
6. Motivating people in a multinational, multicultural organization. If
this is of interest, I can get recommendations for speakers.
7. I would be inclined to add a high-level speaker on the state of
US-UK-European relations, perhaps as a dinner speaker. Between Gavyn and me,
we might be able to get Chancellor Gordon Brown, a very interesting guy, and
the inventor of the "climate change levy" that is driving industry in this
country nuts.
Please look this over. Steve and I have to get together, preferably with
Ken, which leads me to suggest Aspen during the Institute's energy forum,
which I understand Ken will be attending. But if that is not feasible, Steve
and I can work out a date for a preliminary meeting, followed up by one with
Ken at his convenience.
END


I'm not sure, but could you ask Craig.

Julie

Daren J Farmer
03/31/2000 12:30 PM
To: Julie Meyers/HOU/ECT@ECT
cc:
Subject: Re: Mitchell Gas Services 2/00

Is this still outstanding?  Craig is back in the office now.

D

Julie Meyers
03/20/2000 02:27 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Mitchell Gas Services 2/00

---------------------- Forwarded by Julie Meyers/HOU/ECT on 03/20/2000 02:26
PM ---------------------------

	Enron North America Corp.

	From:  Megan Parker @ ENRON                           03/20/2000 02:08 PM

To: Julie Meyers/HOU/ECT@ECT
cc: William C Falbaum/HOU/ECT@ECT
Subject: Mitchell Gas Services 2/00

We have a price difference with Mitchell Gas Services for 2/00 production,
deal 156658.  We have HSC -0.05 and Mitchell shows HSC - 0.04.  Can you tell
me what the correct price is?  I need this ASAP.

Megan


Thank you.

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Friday, September 21, 2001 3:09 PM
To:	Thorne, Judy
Subject:	Mariner Docs.

Attached are the revised redlined docs. per our discussion.  Let me know if you need me to review these with Mariner's counsel.

 << File: GTC(Mariner)(red).DOC >>  << File: Mariner (Wellhead)2(red).doc >>


I plan on being out this Friday, Feb. 8th, and will be out of town until Sunday evening. I will have my cell phone and pager. thanks. sj


---------------------- Forwarded by Eric Bass/HOU/ECT on 07/20/2000 04:56 PM
---------------------------

	From:  David W Delainey @ ENRON                           07/19/2000 01:56 PM

Sent by: Beverly Stephens@ENRON
To: David Oxley/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Janet R
Dietrich/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT,
Brian Redmond/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, Ted C Bland/HOU/ECT@ECT,
Gaurav Babbar/HOU/ECT@ECT, Chris Dorland/CAL/ECT@ECT, Sean
Keenan/HOU/ECT@ECT, Jennifer Martinez/HOU/ECT@ECT, Grant Oh/CAL/ECT@ECT, Ross
Prevatt/HOU/ECT@ECT, Marc Sabine/NA/Enron@ENRON, Brandon Wax/HOU/ECT@ECT, Mo
Bawa/HOU/ECT@ECT, Kate Chaney/CAL/ECT@ECT, Catherine Clark/HOU/ECT@ECT,
Raimund Grube/Corp/Enron@ENRON, Jurgen Hess/LON/ECT@ECT, Nicole
La/HOU/ECT@ECT, Susan M Lewis/HR/Corp/Enron@ENRON, Eva Rainer/HOU/ECT@ECT,
Jason Seigal/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT, Nick
Hiemstra/HOU/ECT@ECT, John King/HOU/ECT@ECT, Gabriel Monroy/HOU/ECT@ECT,
Jennifer Reside/HOU/ECT@ECT, Eric Scott/HOU/ECT@ECT, Erin Willis/HOU/ECT@ECT,
Matthew Jachimiak/HOU/ECT@ECT, Homer Lin/HOU/ECT@ECT, Elizabeth
McCarthy/LON/ECT@ECT, Purvi Patel/HOU/ECT@ECT, Reza
Rezaeian/Corp/Enron@ENRON, John Scarborough/HOU/ECT@ECT, Carrie
Southard/HOU/ECT@ECT
cc: Rhonna Palmer/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Christy
Chapman/HOU/ECT@ECT, Felicia Doan/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT,
Lillian Carroll/HOU/ECT@ECT, Ana Alcantara/HOU/ECT@ECT, Angie
Collins/HOU/ECT@ECT
Subject: Dinner with ENA Associates & Analysts

Please plan to attend a  reception and dinner for those Analysts and
Associates due to rotate in the near future who have made significant
contributions to  Enron North America.  The function will be hosted  by the
Office of the Chairman at Morton's Steak House located at 5000 Westheimer on
July 27, 2000.  The reception will start at 7:00pm with dinner to follow at
7:45pm.  Please RSVP to Ted Bland at ext. 3-5275 no later than close of
business Monday, July 24.  This will be an informal gathering to discuss the
progress of ENA and an open forum to interact with the management team on a
one on one basis.  See you on Thursday.

 Mark, Dave and John


This is what we executed yesterday,
----- Forwarded by John J Lavorato/Corp/Enron on 01/19/2001 08:29 AM -----

	Jeffrey C Gossett@ECT 01/18/2001 06:19 PM 	   To: Jean Mrha/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron  cc:   Subject: Schedule C Nap. Pad Gas

Napoleonville Pad Gas:

$3,000,000	4th quarter 2000
$1,000,000	Jan.  18th
$1,302,036	Schedule C

Jean -  Let me know if you need additional documentation.


I've attached the comments that we filed today along with Alan's affidavit
and the White Paper, both of which were attached to the comments.  I'll send
a hard copy in the mail.  Thanks to all for all your hard work.

Happy Thanksgiving

Ron

 - 0134483.01
 - #134526 v1 - ALAN COMNES' AFFIDAVIT - FINAL.doc
 - FINALWHI.DOC


Rate effective 4/1/2001

Total Transportation Rate                       18.61 ?/dt
Fuel Cost                                            1.89 %
Effective: April 1, 2001


Bill -- fyi.  I don't want you to take any action on this until we have talked (i.e. please don't forward this or talk to the people involved yet).  Let's talk when you have a minute.
-----Original Message-----
From: Suchoff, Debbie
Sent: Monday, August 27, 2001 8:30 AM
To: Lay, Kenneth
Cc: Olson, Cindy; Oxley, David; Kean, Steven J.
Subject: Feedback on resignation

Dear Mr. Lay,

I submitted my resignation Wednesday, the fifthteenth of this month. My resignation is somewhat reluctant, as I've always received excellent reviews and even won an EES Power Player award. My experiences at Enron prior to the last few months has been very positive. I've learned a lot and have made many friends.

Your presentation at the all-employee meeting inspired me to share some important thoughts with you. I hope that my input will ultimately make Enron a better place. My employment began with EES, where I worked with the Facilities team. I enjoyed the fast pace and high profile nature of the job. I felt very successful and satisfied. After working with EES for a little over a year, I transfered to EBS to work with their facilities team. Again, I experienced a great deal of success and received frequent positive feedback.

With the EBS reorganization, all facilities activities and personnel were absorbed into EPSC led by Bill Donovan. I never had the opportunity to meet him. However, my direct supervisor was Janelle Duree. I was initially very excited about the move to Corp; I knew that Enron was very supportive of employee education, training and growth opportunities. I was convinced that I would be able to take advantage of all the opportunities that the company offered me, such as partial reimbursement for my Masters Degree (I currently hold a BBA in Accounting and Computer Information Systems). I was also very excited to take courses such as AutoCad, that would make me more valuable to the facilities team and allow my career to advance. Both of these opportunities were made clear to me under my previous supervisors. In fact I had already enrolled in an AutoCad course when I transferred to Corp.

What happened next, and continued over the next couple of months is simply unbelievable considering Enron's stated Values and Vision, not to mention the corporate culture we're all so proud of.

I was informed by my new supervisor that a Masters Degree was in no way necessary to perform the duties assigned to me. When I asked about setting my goals and discussing career paths, I was told that that wouldn't be necessary; I had reached the top... there was no place for me to go from here. When I asked how PRC was handled, my supervisor told me that I would be evaluated according to my communication and organizational skills---that would be all that I'd need to succeed in the environment. I was also told to cancel the AutoCad course; it was also unnecessary. In effect, I was told to lower my expectations. I still find this attitude completely unacceptable!

If this wasn't bad enough, a month later, I was told that I was no longer a Specialist--- I was now a Customer Service Rerpresentative and as such would be paid by the hour. It is clear that in an environment like Enron, this signaled a tremendous setback for my career. I was demoted although by all accounts I've been an invaluable asset to each group that I've worked with. In fact, all the managers that had been brought to Corp from other groups were also demoted--- their peer groups were changed to reflect Senior Specialist levels. When we complained to HR, we were told that they were completely within their rights, and that the decision was final.  Unfortunately, it was clear that the only means by which I could give my career a fighting chance was to look outside of Enron.

The good news is that I did find an opportunity. I have been promoted to the equivalent of a Senior Specialist. The bad news is that the company is not Enron. I really don't like the idea of leaving Enron, but I feel like I was left without a choice. What concerns me the most is that Enron's greatest asset has always been its people. If this is really true, then it's a huge shame your are rapidly losing the most important resource you have.

As I mentioned earlier, I am writing you because I truly feel you care about Enron's continued growth and success. I think you need to know what is happening in the organization, and the sort of impact it has on your personnel.

Thank you very much for your time and consideration.

Respectfully submitted,

Debbie Suchoff


Sam:

I accidentally deleted this CP from the list (when I was trying to delete
CSFB from the ISDA section).  You will need to reconstruct.  I'm sorry.  Sara


THERE will be a Friday Staff Meeting July 28, 2000.

    Date:  Friday July 28, 2000

    Time:  2:30 pm - 4:30 pm

    Location:  30C1

    Topic:    Combined Staff and Budget Meeting

Thanks,

Kay 3-0643


Great choice, I got several responses last night and that was not one of
them!  All the recipes look really good (as usual).


Dear Friends:

Friday was my last official day at Wyatt, Tarrant & Combs.  You will find my new temporary contact information at the conclusion of this e-mail.  I look forward to hearing from you.

While no longer at Wyatt, I will be working closely with the Wyatt lawyers on client matters while I consider several options which are available to me as I plan for the future.  I look forward to an exciting 2002.  Please note that Vicki Scruggs continues at Wyatt.  You will also note that we are all here in the same building and working to make this transition as efficient as possible.  Most importantly, we are committed to the seamless delivery of legal services to our wonderful clients and we appreciate their patience during the transition.

Best wishes for a great Thanksgiving.

Charles W. Bone
2525 West End Avenue, 4th Floor
Nashville, TN  37203
615.986.2681(Phone)
615.986.7869 (Fax)
615.594.6740 (Cell)
cbone@sath.com (E-mail Address)

Vicki L. Scruggs
Wyatt, Tarrant & Combs
2525 West End Avenue, Suite 1500
Nashville, TN  37203
615.251.6754 (Phone)
615.251.6764 (Fax)
615.828-7704 (Cell)
vscruggs@wyattfirm.com (E-mail Address)


----- Forwarded by Tana Jones/HOU/ECT on 05/19/2000 05:31 PM -----

	Molly Harris
	05/19/2000 05:12 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT
		 cc: Tom Moran/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Sonya
Clarke/LON/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT,
Connie Sutton/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Molly
Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Samuel
Schott/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts
and Facilities
		 Subject: EOL / Credit / GCP Responses 5/19/00

Please find attached Credit's EOL responses for 5/19/00

Regards
Molly


Jim:
Pat Cathers was going to call you to have you send me e-mail or fax the spare
parts list if you haven't done so all ready.  Thanks
Ben
713-853-7998


pls delete Dorothy's name from the Form 3 and replace it with mine and put in
the dates from 1-1-99--12-31-99.  Please print me about 15 of each blank form
.  Thanks.   DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/16/99 08:13
AM ---------------------------

Dorothy McCoppin
12/15/99 04:53 PM
To: Drew Fossum/ET&S/Enron@ENRON, Louis Soldano/ET&S/Enron@ENRON
cc: Michael Moran/ET&S/Enron@ENRON

Subject: GPG Performance Reviews

Here are the forms that I have "unlocked" so they can be re-formatted,
re-configured.  Form 3 is for client feedback.  Form 4 is the summary of your
review (to which I added a "VP, Manager" section).   For your use in doing
reviews.  Merry Christmas!!!  See you in the next millineum!

--Dot


i thought that was slick

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:52 AM
To:	Maggi, Mike
Subject:	RE:

what?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:51 AM
To:	Rybarski, Amanda
Subject:	RE:

thanks i thought so

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:51 AM
To:	Maggi, Mike
Subject:	RE:

we'll see about that, slick!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:50 AM
To:	Rybarski, Amanda
Subject:	RE:

or room service

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:50 AM
To:	Maggi, Mike
Subject:	RE:

Okay...sounds good!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:49 AM
To:	Rybarski, Amanda
Subject:	RE:

i figured you might, well go for lunch

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:48 AM
To:	Maggi, Mike
Subject:	RE:

maybe around 10:30 or 11:00.  You know I'm going to want to eat.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:45 AM
To:	Rybarski, Amanda
Subject:	RE:

ok good, let me know when you want to leave

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:45 AM
To:	Maggi, Mike
Subject:	RE:

DUH!!  I want company.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:44 AM
To:	Rybarski, Amanda
Subject:	RE:

let me know if you want company

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:44 AM
To:	Maggi, Mike
Subject:	RE:

I think we have to be there at 2:00. But I was thinking about leaving early to go shopping or eat or something.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:41 AM
To:	Rybarski, Amanda
Subject:	RE:

i think so, what time are you supposed to go

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:40 AM
To:	Maggi, Mike
Subject:	RE:

It's about your benefits and crap like that...You have to fill out all of these forms and stuff.  Did you get a packet of stuff to fill out?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:39 AM
To:	Rybarski, Amanda
Subject:	RE:

do you know what its about

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:39 AM
To:	Maggi, Mike
Subject:	RE:

Ok...I am pretty pissed off about having to go, but I don't want to get in trouble for not going.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:37 AM
To:	Rybarski, Amanda
Subject:	RE:

if you dont let me know

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:34 AM
To:	Maggi, Mike
Subject:	RE:

I don't know yet.  We'll just have to see.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:32 AM
To:	Rybarski, Amanda
Subject:	RE:

you too, so are you going to go to the meeting

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:32 AM
To:	Maggi, Mike
Subject:	RE:

I was thinking about that this morning on my way in.  You look really nice today!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:30 AM
To:	Rybarski, Amanda
Subject:	RE:

i dont realy think so but what do i know, by the way its a really ugly day out there

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:27 AM
To:	Maggi, Mike
Subject:	RE:

I thought we had to go?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:26 AM
To:	Rybarski, Amanda
Subject:	RE:

i dont know are you?

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:11 AM
To:	Maggi, Mike
Subject:

Are you going to that lame ass orientation today at the Houstonian?


<<MF May 11th, 2001.pdf>>

				Good Friday Morning - Comments From The
Local Guys!

Economic data so far this quarter has been extremely ambiguous. On the one
hand, the employment figures released last Friday were soft, with net hiring
shrinking for the second consecutive month and the unemployment rate rising
to 4.5%. On the other hand, consumer sentiment has improved, and the April
retail sales figures were stronger than anticipated. As we have mentioned,
this mixed data has increased the odds the Federal Reserve will ease by only
25bp next Tuesday. At this stage, Lehman Brothers' economists still think
the odds favor a 50bp cut, given the underlying weakness in the economy,
particularly in high-tech and manufacturing, together with the abysmal
employment data.

The change in the perception on the strength of the economy can be seen in
the higher interest rates posted below.

The 30-year US T-Bond yield is 5.87%.
The 10-year yield is 5.47%.
The 5-year is trading at 4.98%.
Spot crude oil is trading at $28.62 p/b.
Natural Gas - Henry Hub -  is trading at $4.27 p/mcf.

			AD Time:

New Federal Insider-Trading Rule (Rule 10b5-1) have been adopted by the SEC
under the Securities Exchange Act of 1934. This rule greatly enhances an
insider's/employee's ability to trade his/her corporate shares during
blackout periods.
Previously, without the protection of this new SEC rule, employees and
insiders could safely trade only outside of designated blackout windows.
Under this new rule, insiders/employees may have the ability to purchase and
sell their corporate shares even during blackout periods if a written plan
was established and in force when the insider/employee was not in possession
of material, non-public information.
The new rule contains other restrictions and should be reviewed carefully.

Lehman Brothers has established a turn-key plan that take into account the
regulatory procedures for establishing such a plan.    Please email us or
call us for more information.

				Lehman Brothers' Research.

IMPACT CALLS

Entertainment S. Linde, .212.526.4009
Upfront Preview: CBS and FOX Appear Well Positioned
*With the WGA negotiations all but settled, the Entertainment industry will
now turn its sights to the upfront selling cycle, which
commences May 14 with presentations from the major Networks lasting through
May 17.
*The current ad market has created fears of a weak upfront market. Ad buyers
must be careful not to look at the current economic
environment as a proxy for the future. Based on this premise, there may be
upside to our 5%-10% estimated decline in upfront sales
(based on 65%-70% inventory sales with low to mid single digit price
increases).
*In our opinion, VIAB and FOX are the best positioned for this year's
upfront given that improved ratings in the key 18-49
demographic combined with our expectation for modest CPM increases will
boost unit pricing.

Reebok Intl Ltd(RBK) 2 - Buy R. Drbul, .212.526.4714
Preview of Investor Day on May 21 (C)
OLD NEW STREET P/E
Price: $27.20 EPS 2000 N/A $1.41 N/A N/A
52 Wk Ra: $32 - 12 EPS 2001 $1.77E $1.77E $1.73E 15.4
Mkt Cap: $1.7B EPS 2002 $2.05E $2.05E $2.00E 13.3
FY: 12/31 Price Target $36 $36
Rank 2 2
*On May 21, Reebok will be hosting an investor day in Canton, Massachusetts.
We believe that this event should be highly
informative as investors will have the opportunity to view the crucial back
to school product line as well as hear several key
executive presentations.
*We expect to hear presentations from David Perdue, a Reebok veteran and
recently appointed president of the Reebok brand, Jay
Margolis, president of the specialty division (Rockport, Ralph Lauren
footwear and Greg Norman brands) and Terry Pillow,
President of the Rockport brand, among others.
*We will also be looking for additional information on the company's new NFL
licensing deal, which could generate $200 million and
be accretive by $0.05 in 2002 (included in our 2002 estimate).
*We believe that an inflection point in the stock could be the 3Q01, where
we are estimating $60 million of NFL revenues. This
incremental revenue should aid in 12% overall revenue growth for RBK.

FOCUS STOCKS
StorageNetworks, Inc(STOR) 2 - Buy H. Blount, .212.526.9128
Meeting with Management--Demand Remains Robust (C)
OLD NEW STREET P/E
Price: $16.8 EPS 2000 N/A -$1.37 N/A N/A
52 Wk Ra: $154 - 7 EPS 2001 -$1.31E -$1.31E -$1.32E N/A
Mkt Cap: $1.6B EPS 2002 -$1.10E -$1.10E -$0.87E N/A
FY: 12/31 Price Target $28 $28
Rank 2 2
*Our meeting with senior management yesterday confirmed that demand for
STOR's services remains strong; we believe that the stock
is still undervalued at current levels despite its recent rise.
*STOR's management stated that the pipeline of activity for new customers
continues to be robust and that its current customer base is
also growing.
*We believe that STOR is benefiting from the increasing complexity of
managing enterprise data storage environments.
*We believe STOR is funded to profitability.
*The company's maturing sales force should lead to continued productivity
gains. In addition, STOR is shifting its revenue mix to
higher margin services.
*We believe that the stock overhang stemming from the lock-up expiration is
largely behind us.
*Despite its recent run, the stock is still trading at a discount to its
peer group.

McDonald's Corp(MCD) 1 - Strong Buy M. Speiser, .212.526.3255
Reducing '01 EPS not on Ops/adj share base & int expense
OLD NEW STREET P/E
Price: $27.2 EPS 2000 N/A $1.46 N/A N/A
52 Wk Ra: $40 - 25 EPS 2001 $1.50E $1.46E $1.50E 18.6
Mkt Cap: $37.6B EPS 2002 $1.71E $1.66E $1.69E 16.4
FY: 12/31 Price Target $38 $38
Rank 1 1
*Our lower EPS view is not based on weakening Operations, but is due to
adjustments to our share base & interest expense estimates.
So we do not expect much impact on the stock. Lowering already-weak EPS
expectations will likely prove to be beneficial for the
stock. Maintain Op outlook
*Reducing our '01 EPS view from $1.50 to $1.46, now flat vs. a yr-ago & the
low on the Street
*Our revision reflects adjustments to our share base & interest expense
estimates. With $1.2b in buyback targeted in '01 & $452m
done in 1Q, our previous forecast reflected more aggressive repo; mgmt is
adamant that '01 buyback would not pass $1.2b. Also,
higher debt levels will not likely be offset by weak currencies as much as
we thought
*Imp'rtantly our Op outlook albeit weak is unchanged
*Maintain 1-rating. We're now confident that our '01 EPS view will not be
lowered anymore. With the shares at a 4+ year valuation
low & the bar on expectations very low, the risk/reward is favorable

IBM Corp(IBM) 1 - Strong Buy G. Elling, .212.526.3823
Innovate and Integrate: Gerstner Gives Vision for Future
OLD NEW STREET P/E
Price: $116.98 EPS 2000 N/A $4.44 N/A N/A
52 Wk Ra: $135 - 80 EPS 2001 $4.90E $4.90E $4.85E 23.9
Mkt Cap: $212.0B EPS 2002 $5.45E $5.45E $5.47E 21.5
FY: 12/31 Price Target $160 $160
Rank 1 1
*Yesterday IBM hosted its annual meeting for security analysts in New York.
While there were no major surprises, CEO Lou Gerstner
did outline some trends for the future, and stressed the importance of
innovation and integration (i.e., Technology and Services) for
the company going forward.
*Gerstner emphasized the importance of services as a driving force in all IT
spending, including hardware and software. Gerstner also
cited the need for continued technological development as a way to avoid
price wars driven by commoditization of products.
*Gerstner stressed IBM's commitment to high single-digit revenue growth and
double-digit earnings growth in the future. Gerstner
indicated that the company would not simply grow revenue at any cost, but
was instead focused on EPS and cash flow driven by an
operational execution.
*We maintain our current estimates and reiterate our 1-Strong Buy rating on
IBM shares.
IT Consulting & Computer Services K. Keirstead, .212.526.0442
Gerstner's View of IT Services
*Yesterdays comments from the CEO Lou Gerstner and the head of IBM Global
Services Doug Elix represent positive long-term
statements about the IT services industry. IBM is positioning itself as a
services-lead company and claimed that the services business
is now the most important segment of the technology sector. The meeting
supports our positive view of EDS while the comments
about the consulting and systems integration market make us incrementally
more worried about Sapient and Computer Sciences.

Electronic Arts(ERTS) 3 - Market Perform F. Kantor, .212.526.5562
Upside to Q; Outlook Bullish; Wish Stock Were Cheaper (C)
OLD NEW STREET P/E
Price: $54.52 EPS 2000 N/A $0.00 N/A N/A
52 Wk Ra: $62 - 25 EPS 2001 $0.84E $0.89E $0.68E 61.3
Mkt Cap: $7.6B EPS 2002 N/A $1.71E $1.74E 31.9
FY: 3/31 Price Target N/A N/A
Rank 3 3
*There is no doubt in our minds that ERTS is one of the premier publishers
in the industry. The co's solid performance in a difficult Q
makes it easy to believe that when hurdles are absent (i.e. an abundance of
game consoles) they can outperform. That said, we wish
the stock were not so pricey. Due to valuation, we reiterate our market
perform.
*1Q01 operating EPS of $(0.09) vs $0.08 were better than our $(0.15) est.
Most of the upside came from EA Core, where in line revs
were bolstered by lower op. exp. At EA.com, slightly higher revs were offset
by lower margins.
*We are raising our consol. FY02E to $0.89 from $0.84 and are initiating
quarterly EPS of $(0.13), $(0.05), $0.87 and $0.20. We are
also initiating a consol. FY03E EPS of $1.71.
*Adjusting for EA.com, ERTS currently trades at a forward P/E of 35.3x -
higher than hist averages. Though ERTS is on the cusp of
solid growth, this valuation indicates that it is currently in the stock.

IDEC Pharmaceuticals(IDPH) 2 - Buy M. Wood, .212.526.4035
IDEC: Response on Zevalin to the FDA by mid-July. (A,C)
OLD NEW STREET P/E
Price: $54.19 EPS 2000 N/A $0.30 N/A N/A
52 Wk Ra: $78 - 19 EPS 2001 $0.52E $0.52E $0.55E 104.2
Mkt Cap: $6.9B EPS 2002 $0.67E $0.67E $0.84E 80.9
FY: 12/31 Price Target $49 $49
Rank 2 2
*IDEC expects to answer the FDA's questions on Zevalin by mid-July. Our
assumption for launch in 1Q02 remains intact.
*The FDA has issued a Complete Review Letter on Zevalin, asking IDEC to
address a number of clinical and CMC issues.
*The FDA is not requiring additional Phase III trials or further imaging on
patients for the BLA submission.
*The timing for Zevalin at the FDA remains a question. There are currently
no completion requirements for the FDA, although we are
clearly encouraged by IDEC's ability to respond quickly.
*We continue to expect launch in 1Q02. We maintain our sales projections for
Zevalin in 2002 and 2003 at $70.9 million and $119.8
million, respectively.

David C. Morris
Sr. VP Lehman Brothers
713-652-7112/800-227-4537
dcmorris@lehman.com

Disclosure Legend: A-Lehman Brothers Inc. managed or co-managed within the
past three years a public offering of securities for this company. B-An
employee of Lehman Brothers Inc. is a director of this company. C-Lehman
Brothers Inc. makes a market in the securities of this company. G-The
Lehman Brothers analyst who covers this company also has position in its
securities.
Key to Investment Rankings: This is a guide to expected total return (price
performance plus dividend) relative to the total return of the stock's local
market over the next 12 months. 1 = Strong Buy (expected to outperform the
market by 15 or more percentage points); 2=Buy (expected to outperform
the market by 5-15 percentage points); 3=Market Perform (expected to perform
in line with the market, plus or minus 5 percentage points); 4=Market
Underperform (expected to underperform the market by 5-15 percentage
points); 5=Sell (expected to underperform the market by 15 or more
percentage
points).
This document is for information purposes only. We do not represent that
this information is complete or accurate. All opinions are subject to
change.
The securities mentioned may not be eligible for sale in some states or
countries. This document has been prepared by Lehman Brothers Inc., Member
SIPC, on behalf of Lehman Brothers International (Europe), which is
regulated by the SFA. ?Lehman Brothers, Inc.

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 - MF May 11th, 2001.pdf