Dynegy Issues Statement On Enron Merger Status
Business Wire, 11/21/01
Enron says repayment of 690 mln usd debt extended until mid-Dec
AFX News, 11/21/01
USA: Enron secures credit line as shares fall.
Reuters English News Service, 11/21/01
Enron stock free-fall continues
Associated Press Newswires, 11/21/01
Enron Closes On $450M Secured Credit Line
Dow Jones News Service, 11/21/01
USA: UPDATE 1-Enron shares fall further on credit concerns.
Reuters English News Service, 11/21/01
USA: Enron shares tumble on credit concerns.
Reuters English News Service, 11/21/01
Upgrades and Downgrades
CNNfn: Market Coverage - Morning, 11/21/01
USA: RESEARCH ALERT-Enron, Dynegy cut by Goldman.
Reuters English News Service, 11/21/01
Enron Gets Extension on $690 Mln Note Due Next Week (Update1)
Bloomberg, 11/21/01

Enron, Dynegy Shares Fall 2nd Day on Threat to Buyout (Update2)
Bloomberg, 11/21/01

U.S. Equity Movers: Cardiac Science, Enron, Guidant, TriQuint
Bloomberg, 11/21/01

Enron, Dynegy Shares Fall 2nd Day on Threat to Dynegy Bid
Bloomberg, 11/21/01

Enron Corp. Cut to `Market Perform' at Goldman Sachs
Bloomberg, 11/21/01

Enron Says Lenders Extend $690 Mln Note Payment to Mid-December
Bloomberg, 11/21/01

Plunge Says End Is Near at Enron
TheStreet.com, 11/21/01

DYNEGY, ENRON SAY MERGER TO PROCEED
CBS.MarketWatch.com, 11/21/01

Dynegy Issues Statement On Enron Merger Status

11/21/2001
Business Wire
(Copyright (c) 2001, Business Wire)
HOUSTON--(BUSINESS WIRE)--Nov. 21, 2001--Dynegy Inc. (NYSE:DYN) Chairman and CEO Chuck Watson today said he is encouraged by Enron Corp.'s report this morning that it has closed the remaining $450 million credit facility secured by the assets of Northern Natural Gas Pipeline and has received a commitment from its lead bank to extend the $690 million note payable obligation described in Enron's recent 10-Q filing.
"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement," he said.
Watson also noted that ChevronTexaco recently reiterated that it has "full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader." ChevronTexaco owns 26 percent of Dynegy's outstanding common stock.
Dynegy Inc. is one of the world's top energy merchants. Through its global energy delivery network and marketing, trading and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.
Certain statements included in this news release are intended as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements include assumptions, expectations, predictions, intentions or beliefs about future events. Dynegy cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. Some of the key factors that could cause actual results to vary from those Dynegy expects include changes in commodity prices for energy or communications products or services; the timing and extent of deregulation of energy markets in the U.S. and Europe; the timing of required approvals for the Dynegy/Enron merger and the success of integration and cost savings measures relating to the merger; the effectiveness of Dynegy's risk management policies and procedures and the creditworthiness of customers and counterparties; the liquidity and competitiveness of wholesale trading markets for energy commodities, including the impact of electronic or online trading in these markets; operational factors affecting Dynegy's power generation or Dynegy's midstream natural gas facilities; uncertainties regarding the development of, and competition within, the market for communications services in the U.S. and Europe; uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting Dynegy's business; general political, economic and financial market conditions; and any extended period of war or conflict involving the United States or Europe. Moreover, Dynegy's expectation that the acquisition will be accretive to earnings in 2002 and beyond is based upon achieving certain sales projections, meeting certain cost targets and successfully integrating the acquired assets. More information about the risks and uncertainties relating to these forward-looking statements are found in Dynegy's SEC filings, which are available free of charge on the SEC's Web site at http://www.sec.gov.

CONTACT: Dynegy Inc., Houston 713/767-5800
13:26 EST NOVEMBER 21, 2001

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron says repayment of 690 mln usd debt extended until mid-Dec

11/21/2001
AFX News
(c) 2001 by AFP-Extel News Ltd
HOUSTON (AFX) - Enron Corp said its creditor banks have granted an extension on a 690 mln usd note payable by Nov 27 until mid-December, giving it enough time to restructure the debt.
In a statement, the troubled energy company said the extension has been agreed following talks with its main creditor banks on restructuring its debt to avoid a liquidity crisis.
"We have been in continuous contact with our banks and believe we can identify a mutually beneficial restructuring to enhance our cash position, strengthen our balance sheet and address upcoming maturities," said chief financial officer Jeffrey McMahon.
Enron first informed investors of the possibility it would be forced to repay the 690 mln usd note in a filing to the Securities and Exchange Commission on Monday.
The obligation arose after Standard & Poor's cut the company's long-term debt rating to BBB- last week, forcing it to either post collateral on the note or repay it on maturity.
Enron said it has also secured the remaining 450 mln usd of a previously announced 1 bln usd credit line from JP Morgan and Salomon Smith Barney. The facility is secured by the assets of Enron's Northern Natural Gas Co unit.
The other 550 mln usd are secured by the assets of its Transwestern Pipeline Co.
Enron also said it is still committed to its merger with Dynegy Inc, announced on Nov 9.
"We continue to believe that this merger is in the best interests of our shareholders, employees, and lenders," said chairman and chief executive Kenneth Lay. "It offers the opportunity to create a formidable player in the merchant energy business with substantial growth prospects and a strong financial position."
JP Morgan Chase vice chairman James Lee said the bank will work with Enron and its other creditor banks "to develop a plan to strengthen Enron's financial position up to and through its merger with Dynegy", which is expected to close in the third quarter of 2002.
cl/gc For more information and to contact AFX: www.afxnews.com and www.afxpress.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Enron secures credit line as shares fall.

11/21/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 21 (Reuters) - Enron Corp. said on Wednesday it secured the remaining $450 million of its $1 billion credit line and reaffirmed its commitment to an agreement to be taken over by rival Dynegy Inc.
Facing a crisis of confidence, Enron said it is in active talks with its other lenders to restructure its debt obligation and had pushed back the deadline for repaying a $690 million loan obligation to mid-December.
"We continue to believe that this merger is in the best interests of our shareholders, employees, and lenders," Enron Chairman and Chief Executive Ken Lay said in a statement.
Enron shares were down 28 percent after noon on Wednesday, after being down 33 percent earlier in the day. Its shares fell about 23 percent on Tuesday amid concerns over its liquidity and growing questions over whether the proposed takeover by Dynegy would go ahead.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron stock free-fall continues

11/21/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.
HOUSTON (AP) - Shares of embattled Enron Corp. plunged another 32 percent Wednesday morning as analysts and investors continued to doubt the once-mighty energy trader's ability to recover lost business and investor confidence.
In a report released Wednesday, Goldman Sachs & Co. analyst David Fleischer became the latest to question Enron's future, saying that an SEC filing by the Houston-based company earlier this week "raised new issues about liquidity and the ability of the company to even finance itself over the next several months."
Analysts are also questioning whether Dynegy Inc.'s planned dlrs 8.9 billion acquisition of Enron will survive given the latest revelations.
Documents filed with the Securities and Exchange Commission by Enron late Monday restated the company's third-quarter earnings and stated that it may have to repay a dlrs 690 million debt by next week because of decreased credit ratings.
The filing also noted that Enron's financial woes have led to a "reduced level of transaction activity" with the company by trading partners.
Enron shares fell 23 percent Tuesday, then dropped another dlrs 2.25, or 32 percent, to dlrs 4.74 Wednesday in extremely heavy trading on the New York Stock Exchange.
Fleischer said Enron's Nov. 16 cash balance of dlrs 1.2 billion is inadequate to meet remaining debt obligations.
Fleischer acknowledged, however, Enron's efforts to renegotiate next week's due date for the dlrs 690 million debt, which was triggered Nov. 12 when the company's credit rating was downgraded to BBB-, saying that there are indications that Enron's banks may be willing to roll current maturities over and even make new equity investments.
Michelle Foss, director of the Energy Institute at the University of Houston, said this latest round of troubles had to raise concerns about whether the Dynegy-Enron deal will be pulled off.
"It doesn't look like it's going to be able to happen," Foss said. "It did look like a decent idea when they proposed the merger, but today I'm sure they'll look at it and see if they can salvage their attempt to buy Enron."
Shares of Dynegy were off dlrs 2.55 to dlrs 39.15 in trading on the NYSE.
---
Tobacco suits by Venezuela, Brazil's Espirito Santo dropped
MIAMI (AP) - Health care cost-recovery lawsuits against major U.S. cigarette makers by Venezuela and the Brazilian state of Espirito Santo have been dismissed.
"This is another important reminder to American plaintiffs' lawyers that a state court won't ignore the overwhelming number of decisions by federal courts rejecting these lawsuits," William S. Ohlemeyer, Philip Morris Cos. vice president, said Tuesday after the decisions.
Attorneys for several foreign governments have filed an assortment of lawsuits in U.S. federal and state courts in an attempt to find some legal mechanism that withstands judicial scrutiny.
Russia and other Brazilian states are among the foreign governments that have sued in Miami, where a verdict of dlrs 145 billion was awarded to Florida smokers against the five biggest U.S. cigarette makers.
Ecuador's suit in Miami was withdrawn earlier when another state judge announced his intention to dismiss it.
----
General Motors of Canada inks supplier agreement with Quebec rubber plants
Eds: Dollar figures are Canadian.
MONTREAL (AP) - General Motors of Canada has signed supplier agreements with a Quebec auto-parts maker that helped create about 800 jobs, news reports said Wednesday.
The deal with Saar-Gummi Automotive Group in Magog, Quebec, is part of General Motors' commitment to offset the jobs that will be lost when it shuts down its car assembly factory in Boisbriand, Quebec, next year, killing 1,400 jobs.
GM did not reveal the value of the contracts, but German-based Saar-Gummi said Tuesday it has made a dlrs 40 million investment in its seven Magog plants, doubling its workforce to 1,600 employees from 800 since last summer.
The factories make molded rubber parts for cars, such as the rubber strips and molding found along the doors of vehicles. Most of the production is sold to GM, and goes into 56 GM plants in Canada, the United States and Mexico.
The products will be used in several models including the Chevrolet Avalanche, GMC Envoy, Saturn VUE and Cadillacs.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Closes On $450M Secured Credit Line

11/21/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
HOUSTON -(Dow Jones)- Enron Co. (ENE) closed on the remaining $450 million of a previously announced $1 billion in secured credit lines and said it is in active discussions to restructure its debt to improve liquidity.
In a press release Wednesday, Enron said the $450 million credit facility is secured by the assets of Enron's Northern Natural Gas Co.
A $550 million credit facility, secured by the assets of Enron's Transwestern Pipeline Co., closed Nov. 16. The proceeds are being used to supplement short-term liquidity and to refinance maturing obligations.
The company said it was informed by the lead bank on the facility that the maturity on its $690 million note payable obligation will be extended to mid-December. Enron expects the extension to be finalized shortly.
Dow Jones Corporate Filings Alert reported Monday that Enron is currently preparing a restructuring plan aimed at taking aggressive steps to rationalize the company's existing cost structure, accelerating the process of divesting noncore businesses and assets and restructuring scheduled maturities of debt and other obligations.

Enron's credit lines are from J.P. Morgan, the investment-banking arm of J.P. Morgan Chase & Co. (JPM), and Salomon Smith Barney, the investment-banking arm of Citigroup Inc. (C).
Enron also reaffirmed its commitment to the merger with Dynegy Inc. (DYN). On Nov. 9, Enron and Dynegy signed a definitive merger agreement that would give Enron shareholders 0.2685 share of a Dynegy share. The merger is expected to close by the end of the third quarter of 2002.
On Monday, Enron filed its Form 10-Q for the third quarter, which reflected a wider loss by 3 cents a share. The energy company previously reported a loss of $618 million, or 84 cents a share, on revenue of $47.6 billion for the third quarter ended Sept. 30.
-Stephen Lee; Dow Jones Newswires; 201-938-5400

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: UPDATE 1-Enron shares fall further on credit concerns.

11/21/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 21 (Reuters) - Enron Corp. shares tumbled 33 percent in early trading on Wednesday, following a 22.8 percent drop on Tuesday, amid concerns over the company's liquidity and growing questions over whether the proposed takeover by Dynegy will go ahead.
Enron's shares were down $2.29 to $4.70 in early trading on the New York Stock Exchange. The stock was the biggest loser by percentage and the most active stock on the NYSE.
"The Dynegy deal will take a long time and a lot of things could happen over that time period. Dynegy did their homework, but if they missed anything, they have a number of exit opportunities," said Fulcrum Global Partners analyst Michael Barbis.
Dynegy was not immediately available for comment.
Wall Street analysts said Enron is losing market share because of credit concerns from its trading partners and questions over Dynegy Inc.'s takeover offer. Enron warned on Monday it could be forced to pay by next week a $690 million debt triggered by a credit downgrade last week.
"Enron is definitely losing market share on credit concerns. Cash needs to run the buisness have now increased. The market perceives Enron as needing more cash," said Barbis.
On Monday, Enron disclosed it is up against a deadline of Nov. 26 to deliver collateral against the debt owed to a third party in one of its many partnerships.
If not, the partner has the right to liquidate all of the assets of the partnership, which include a Brazilian natural gas company that Enron was counting on selling to raise $250 million in cash.
Enron is working to make alternative payment arrangements, since it can ill-afford to pay the debt now. Enron has already already maxed out its $3 billion credit line, secured roughly $2 billion in loans and is looking for more cash to stay afloat.
On Monday, the Houston-based company also reduced previously reported 2001 third-quarter earnings by 3 cents per share and increased reported earnings for the first 9 months of the year by a penny per share.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Enron shares tumble on credit concerns.

11/21/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 21 (Reuters) - Enron Corp. shares tumbled 19 percent in opening trade on Wednesday, amid concerns over the company's liquidity and growing questions over whether the proposed takeover by Dynegy will go ahead.
Shares were down $1.33 to $5.66 in early trading on the New York Stock Exchange.
Wall Street analysts said Enron is losing market share because of credit concerns from its trading partners and questions over Dynegy Inc.'s takeover offer. Enron warned on Monday it could be forced to pay by next week a $690 million debt triggered by a credit downgrade last week.
"The Dynegy deal will take a long time and a lot of things could happen over that time period. Dynegy did their homework, but if they missed anything, they have a number of exit opportunities," said Fulcrum Global Partners analyst Michael Barbis.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business
Upgrades and Downgrades
Rhonda Schaffler, Charles Kadlec

11/21/2001
CNNfn: Market Coverage - Morning
(c) Copyright Federal Document Clearing House. All Rights Reserved.
RHONDA SCHAFFLER, CNNfn ANCHOR, MARKET CALL: Time now for upgrades and downgrades.
Salomon Smith Barney downgrades Microsoft (URL: http://www.microsoft.com/) to neutral from outperform saying the company`s earnings estimates too aggressive in light of the economic conditions.
Goldman Sachs, as we heard from Chris, removing three energy firms; Enron (URL: http://.www.enron.com/) , Dynegy (URL: http://www.dynegy.com/) and Williams (URL: http://www.williamsenergy.com/) , from the recommended list.
Dynegy was expected to buy the troubled Enron. It is still, but it`s rated market perform now as is Enron. Williams rated market outperform. Goldman says it`s concerned about Enron`s ability to recover from the loss of significant business deals and sees no positive catalysts for the entire group largely due to the problems in Enron.
On the upside, Deutsche Bank is raising Xerox (URL: http://www.xerox.com/) to buy from market perform saying it`s pleased with the company`s turnaround strategy. We`re going to talk about that in detail when we speak with the analyst who made that call in just a moment.
First, we want to take a look at how these stocks are trading. Entire group is down with the exception of Xerox. It`s up 15 cents.
Peter Ausnit is imaging analyst at Deutsche Bank Alex. Brown and joins us.
And thanks for joining us here on MARKET CALL. What is it about Xerox you like?
PETER AUSNIT, IMAGING ANALYST, DEUTSCHE BANK ALEX. BROWN: Well I think the company`s really put its liquidity concerns behind it and now investors can look at the long-term picture, which is much brighter.
CHARLES KADLEC, J&W SELIGMAN: Peter, it`s Chuck Kadlec. Good morning. Is this is a heroic recommendation here? Is this - should we consider this more of a speculative investment or is this something that a conservative investor ought to be interested in?
AUSNIT: I think investors should be interested in this if, over the next several quarters - in the near-term, the conditions are still quite difficult but over the long-term it`s not that speculative. Xerox has a large install base, a tremendous sales and service force and can probably return to industry standard margins.
KADLEC: As you say, this probably depends on management`s ability to execute here. Why do you believe this management is going to be able to execute their strategy?
AUSNIT: Well their track records during the turnaround has been fairly strong and the strategy has made a lot of sense. They`ve sold a lot of businesses. They`ve done most of the things they promised to do such as bring on new third party equipment financing and they`re going to bring on a new CFO as well.
SCHAFFLER: Peter Ausnit of Deutsche Bank Alex. Brown, thanks for joining us.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: RESEARCH ALERT-Enron, Dynegy cut by Goldman.

11/21/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 21 (Reuters) - Goldman Sachs said on Wednesday it removed merger partners Enron Corp. and Dynegy Inc. from its "recommended list" and downgraded the stocks to "market perform."
Goldman said it cut Enron's 2001 earnings estimate to $1.35 a share, and cut the 2002 estimate to 50 cents a share amid concerns about "new and major" liquidity issues, and the company's ability to recover the business that has been lost.
The firm said the cash infusion from Dynegy "appears inadequate to restore the confidence of Enron customers."
It said Dynegy and Williams Cos Inc. have "excellent long-term prospects," but valuations throughout the sector may be under pressure until Enron's issues are resolved.
Shares of Enron closed at $6.99 on Tuesday, while Dynegy closed at $41.70. Shares of Williams closed at $29.26.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Gets Extension on $690 Mln Note Due Next Week (Update1)
2001-11-21 12:38 (New York)

Enron Gets Extension on $690 Mln Note Due Next Week (Update1)

     (Updates with amount of debt in fourth paragraph.)

     Houston, Nov. 21 (Bloomberg) -- Enron Corp., whose shares had
dropped 92 percent this year amid a financial crisis, said lenders
extended to mid-December the payment date on a $690 million note
due next week.

     Enron, which agreed to be bought out by rival energy trader
Dynegy Inc. in a transaction now valued at more than $23 billion,
said earlier this week a drop in its credit rating may force it to
repay the $690 million note. The repayment would strain cash
reserves Enron needs to back its trading operations, investors and
analysts said.

     The Houston-based company didn't say in its release who holds
the note, which is owed by an affiliated partnership that owns
Brazilian natural-gas assets and was backed by Enron.
     The note is held by a group of banks led by the Citibank unit
of Citigroup Inc., Standard & Poor's said in a press release
yesterday.

      Enron also is in discussions with other lenders on a
restructuring of its debt, the company said in a statement
distributed by PR Newswire.

     ``We believe the interests of Chase and Enron's other primary
lenders are aligned in this restructuring effort,'' James Lee,
vice president of JP Morgan Chase & Co., said in the Enron
statement. ``We will work with Enron and its other primary lenders
to develop a plan to strengthen Enron's financial position up to
and through its merger with Dynegy.'' Morgan has been advising
Enron on its merger with Dynegy.

     Enron said yesterday it may have to pay $9.15 billion in debt
due by 2003, suggesting the company may run out of cash before the
merger closes. Dynegy has said the merger should close before the
end of the third quarter of 2002.

      Enron said in a regulatory filing that it has less than $2
billion in cash or credit lines.

     Shares of Enron, the most active stock in U.S. trading, fell
$1.79, or 23 percent, to $5.20 in midday trading. Before the
announcement that it had renegotiated the $690 million note, its
shares had fallen as much as 42.78 percent, the lowest level in
more than a decade.

     Dynegy fell $2.50, or 6 percent, to $39.20. Shares of
ChevronTexaco Corp., which owns 26 percent of Dynegy, rose 49
cents to  $87.02

Enron, Dynegy Shares Fall 2nd Day on Threat to Buyout (Update2)
2001-11-21 11:49 (New York)

Enron, Dynegy Shares Fall 2nd Day on Threat to Buyout (Update2)

     (Adds analyst comment in fourth paragraph.)

     Houston, Nov. 21, (Bloomberg) -- Shares of Enron Corp., the
biggest energy trader, and Dynegy Inc. fell for a second day on
concern Enron may run out of cash before its takeover by Dynegy
can be completed.

     Enron tumbled as much as 33 percent, and Dynegy dropped as
much as 6.7 percent. Enron's bonds also fell. The company's 6.4
percent notes maturing in July 2006 were bid at 62 cents and
offered at 66 cents, traders said. They sold at about 72 cents
yesterday.

     Institutional investors sold shares of both companies after
Goldman, Sachs & Co. analyst David Fleischer downgraded them to
``market perform'' from his ``recommend'' list, other analysts
said.

     The Dynegy bid ``did not eliminate customer concerns about
Enron's liquidity and long-term viability,'' Goldman Sachs said
in its report. ``We now believe that it will be difficult for
Enron shares to generate strong returns until it is clear that
Enron can operate on a normal basis without having to provide
cash or letters of credit to back routine transactions.''

     Fleischer also cut his 2002 profit estimate for Enron to 50
cents from $1.35. Enron had been expected to make $1.90 next
year, the average estimate of 16 analysts surveyed by Thomson
Financial/First Call.

     Enron said Monday it may have to pay $9.15 billion in debt
due by 2003, suggesting the Houston-based energy trader may run
out of cash. The company said in a regulatory filing it has less
than $2 billion in cash or credit lines.

     It also surprised some investors by saying a drop in its
credit rating may force it to repay a $690 million note next
week. Enron said yesterday the terms of the notes, which it
guaranteed for an affiliated partnership that owns Brazilian
natural-gas assets, are being renegotiated and that it had a
``verbal indications'' that the maturity of the notes will be
extended.

     The company's dealings with affiliated partnerships led to
earnings restatements, credit-rating cuts, a federal
investigation and a management shakeup. Dynegy plans to complete
its buyout by October, and Enron may have to ask lenders to
restructure payment schedules.

     Mirant Corp., Aquila Inc. and other big energy traders are
doing fewer transactions with Enron as concerns increase about
its credit rating and ability to finance daily business,
executives said yesterday.

     Enron's stock fell $2.28, or 32 percent, to $4.71 in
late-morning trading. Earlier, it touched $4.67, its lowest price
in more than a decade. The shares have plummeted 92 percent this
year. Dynegy fell $2.70, or 6.5 percent, to $39.00. The shares
had dropped 26 percent this year.

U.S. Equity Movers: Cardiac Science, Enron, Guidant, TriQuint
2001-11-21 10:24 (New York)

U.S. Equity Movers: Cardiac Science, Enron, Guidant, TriQuint

     New York, Nov. 21 (Bloomberg) -- The following is a list of
companies whose shares are moving in U.S. markets Wednesday, Nov.
21. The stock symbol is in parentheses after the company name.

Major Moving Stocks:

     Enron Corp. (ENE) fell $1.54, or 22 percent, to $5.45 and
traded as low as $5.44. The energy trader shares fell for a second
day on concern Enron may run out of cash before its takeover by
Dynegy Inc. (DYN) can be completed.

Other Moving Stocks:

     Cardiac Science Inc. (DFIB) rose 51 cents, or 16 percent, to
$3.65 and traded as high as $3.89. The maker of equipment used to
restore a normal heartbeat to patients in cardiac arrest said the
San Diego City Council approved an agreement for the company to
deploy automated external defibrillators in the region. The
company made the announcement in a press release distributed by PR
Newswire. Officials couldn't immediately be reached to comment.

     Guidant Corp. (GDT) rose $4.18, or 8.9 percent, to $51 and
traded as high as $51.50. The maker of products to treat heart
disease said a study showed implantable defibrillators cut deaths
by 30 percent in heart-attack survivors, potentially expanding the
$1.9 billion market for the product.

     Portal Software Inc. (PRSF) fell 34 cents, or 15 percent, to
$1.89 and traded as low as $1.64. The provider of Internet-billing
programs said in a release distributed by Business Wire that it
forecasts a loss of 9 cents to 10 cents a share in the fourth
quarter ending Jan. 31. The company is expected to lose 11 cents,
the average estimate of analysts surveyed by First Call. Officials
couldn't be reached to comment.

     TriQuint Semiconductor Inc. (TQNT) fell $1.99, or 10 percent,
to $17.56 and traded as low as $17.35. The communications-
equipment chipmaker said it would report fourth- and first-quarter
results at the low end of previous forecasts. TriQuint was cut to
``neutral'' from ``buy'' in a report by U.S. Bancorp Piper Jaffray
Cos. analyst Samuel May.

Tickers: ENE DFIB GDT TQNT

     Money flows, the difference between the value of trades made
at a higher price than the previous trade and those made at a
lower price, may also appear for some stocks. These inflows and
outflows show whether people are willing to pay more for a stock
that's rising, or to sell a stock that's falling for less. If not
it's a signal the share price may soon change direction.

Enron, Dynegy Shares Fall 2nd Day on Threat to Dynegy Bid
2001-11-21 09:57 (New York)

Enron, Dynegy Shares Fall 2nd Day on Threat to Dynegy Bid

     Houston, Nov. 21, (Bloomberg) -- Shares in Enron Corp. and
Dynegy Inc. fell for a second day on concern Enron may run out of
cash before its takeover by Dynegy can be completed.

     Enron fell $1.37, or 20 percent to $5.62 in early trading.
Dynegy fell $1.95, or 4.7 percent, to $39.75.

     Enron bonds extended declines. The company's 6.4 percent
notes maturing in July 2006 were bid at 60 cents and offered at 68
cents, traders said. They traded at about 72 cents yesterday.

Enron Corp. Cut to `Market Perform' at Goldman Sachs
2001-11-21 08:46 (New York)

     Princeton, New Jersey, Nov. 21 (Bloomberg Data) -- Enron Corp. (ENE US)
was downgraded to ``market perform'' from ``recommend list'' by analyst David
N Fleischer at Goldman, Sachs & Co.

Earnings estimates:  Period       Previous estimate     New estimate
per share   (USD)    FY 2001      1.80                  1.35
                     FY 2002      2.15                  0.50

Enron Says Lenders Extend $690 Mln Note Payment to Mid-December
2001-11-21 12:10 (New York)

Enron Says Lenders Extend $690 Mln Note Payment to Mid-December

     Houston, Nov. 21 (Bloomberg) -- Enron Corp. said its lenders
extended to mid-December the payment date on a $690 million note,
giving the debt-laden energy trader more time to restructure its
finances.

     Enron said it's still committed to a takeover by Dynegy Inc.
The company said it secured the remaining $450 million of a
previously announced $1 billion credit line.

     Enron shares pared losses after the announcement of the debt
extension. The stock fell $1.54, or 22 percent, to $5.45 in midday
trading.

Plunge Says End Is Near at Enron

By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
11/21/2001 12:32 PM EST
Enron (ENE <http://tscquote.thestreet.com/StockQuotes.jhtml?tkr=ENE>:NYSE - news <http://tscquote.thestreet.com/BBNews.jhtml?tkr=ENE> - commentary <http://find.thestreet.com/cgi-bin/texis/cmttkrfind/results.html?tkr=ENE&site=tsc> - research <http://thestreet.multexinvestor.com/search.asp?Ticker=ENE> - analysis) <http://www.riskgrades.com/clients/thestreet/index.cgi?tickers=ENE> shares plunged a second straight day Wednesday as fear mounted that the struggling energy trader's bailout merger plan will unravel.
A potentially lethal cash crunch appears to be gripping Enron, even though its planned acquirer Dynegy (DYN <http://tscquote.thestreet.com/StockQuotes.jhtml?tkr=DYN>:NYSE - news <http://tscquote.thestreet.com/BBNews.jhtml?tkr=DYN> - commentary <http://find.thestreet.com/cgi-bin/texis/cmttkrfind/results.html?tkr=DYN&site=tsc> - research <http://thestreet.multexinvestor.com/search.asp?Ticker=DYN> - analysis) <http://www.riskgrades.com/clients/thestreet/index.cgi?tickers=DYN> has injected $1.5 billion of cash, and banks have opened new credit lines. An Enron collapse would cause weeks of dislocation in the energy markets that would damage other energy traders, and it would cause big losses for the Houston company's creditors.
Just before noon EST, Enron announced in a press release that it had extended to mid-December a $690 million obligation that was due next week. It also said that it had agreed with its bankers to draw down the remaining $450 million of a previously announced $1 billion secured credit line that has J.P. Morgan Chase as its lead banker.
Investors have been fleeing Enron since the company last month disclosed a $1.2 billion writedown to unwind some related-party hedging transactions. The Securities and Exchange Commission is probing Enron deals with related parties. The October disclosure made investors uneasy because it suggested the company hadn't been forthcoming about the true state of its finances, and it showed that Enron was facing serious liquidity problems.
Those fears were temporarily quieted earlier this month when Enron agreed to be acquired by smaller rival Dynegy. But Enron's disclosure Monday that it faces additional earnings and financing troubles renewed the rush to the exits. In the Wednesday release, Enron CEO Ken Lay said his company was still committed to the merger: "We continue to believe that this merger is in the best interests of our shareholders, employees and lenders." Dynegy later issued a press release indicating it is "continuing our confirmatory due diligence" regarding the merger. Neither Enron nor Dynegy returned calls seeking comment.
After plunging 23% Tuesday to $6.99, Enron was down a staggering 34% at one point Wednesday. It moved slightly higher after the midday press release to trade at $4.90. Enron shares have lost more than 80% of their value since the company issued its third-quarter earnings release last month. Dynegy dropped $2.44, to $39.26, though it remains substantially above premerger levels.
At the heart of Enron's trouble is the sense that the company isn't letting on the full extent of its troubles. The selloff in Enron shares began in earnest Oct. 16, when the company disclosed in an earnings conference call that it would take a $1.2 billion writedown to unwind some related-party transactions. Critics of the company said those deals, in which the company did business with separate entities involving Enron managers, raised serious ethical and disclosure issues.
The Dynegy merger was taken as a vote of confidence for Enron, since as a big trading partner Dynegy would appear to have a solid grasp of Enron's situation. As a result, shares in both companies rallied after the deal's announcement. But Monday's disclosure that Enron faced $690 million in bond payments next week reignited worries that the company faced steeper challenges than it has detailed. According to a Merrill Lynch report cited in The New York Times Wednesday, Dynegy wasn't aware of the $690 million obligation. Critics of the deal wondered whether Enron had told Dynegy about all its obligations. <http://www.thestreet.com/markets/detox/10003860.html>
Liquidity fears have also been rekindled by information contained in a filing of quarterly results that show the company consumed as much as $5 billion of cash in recent weeks. By the end of 2002, Enron has to find around $9 billion to pay back various obligations. It had $1.2 billion in cash on hand as of Nov. 16, according to the filing.
Tellingly, Dynegy shares haven't plunged along with Enron, suggesting that investors see a collapse of the merger as catastrophic for Enron but not for Dynegy. At current levels, Enron shares are trading at more than a 50% discount to the Dynegy offer.
J.P. Morgan has taken a leading role in helping Enron. It has lent funds and it helped restructure the $690 million obligation. The bank's stock was down 78 cents to $38.62. "We will work with Enron and its other primary lenders to develop a plan to strengthen Enron's financial position up to and through its merger with Dynegy," said James Lee, a top banker at Morgan, in the Enron release.

From CBS.MarketWatch.com, online at:

DYNEGY, ENRON SAY MERGER TO PROCEED

By Myra P. Saefong

1:52 PM ET Nov 21, 2001

WASHINGTON (CBS.MW) -- Merger partners Enron and Dynegy restated their
commitment Wednesday to completing a deal, on the heels of embattled
Enron's announcement that its lead lender granted it more time to pay
off a $690 million note set to come due next week.

"We are continuing our confirmatory due diligence and working to
accelerate the regulatory approvals required to complete the merger,"
said Chuck Watson, Dynegy's chairman and chief executive,  in a
statement.

Shares of Enron (ENE) recovered slightly in afternoon  trading but
remained under pressure.

On heavy volume, the stock -- which had touched $4 earlier in the
session -- was down $1.83 to trade at $5.16, a new 10-year low. Some 84
million shares had changed hands.

Enron declined 23 percent Tuesday after the company revealed the
upcoming debt deadline and restated its earnings.

Meanwhile, Dynegy shares lost $1.83 to stand at $39.87.

Enron said that the lead bank on the $690 million debt agreed to extend
the maturity date to mid-December, which will give the company time to
restructure the facility, and added it expects to further restructure
its debt.

"We ... believe we can identify a mutually beneficial restructuring to
enhance our cash position, strengthen our balance sheet, and address
upcoming maturities," said Jeff McMahon, chief financial officer, in a
statement.

J.P. Morgan Chase & Co. said it and other lenders are committed to
helping Enron improve its financial position.

Also, Enron reaffirmed its commitment to a merger with Dynegy and said
it closed on a previously announced $450 million line of credit from
J.P. Morgan, collateralized by the company's Northern Natural Gas Co.

Enron -- which is being acquired by its smaller rival Dynegy (DYN) at a
fire-sale price -- revealed in a Securities and Exchange Commission
filing Monday that it had to pay off or refinance $690 million in debt
obligations by next Monday or risk triggering nearly $4 billion in
additional payments.

If Enron had missed that deadline and didn't post collateral, investors
had the right to demand immediate liquidation of the assets of one of
Enron's limited partnerships, the unusual business entities at the
center of the company's murky transactions currently under
investigation.

The SEC filing of Monday also contained yet another restatement of
financial results on the heels of a similar filing that disclosed more
than four years of restated earnings figures.
<http://cbs.marketwatch.com/news/story.asp?guid=%7B35D690E0%2D13BE%2D43D9%2D9644%2D1B1CF4896115%7D>

Earlier Wednesday, Goldman Sachs lowered its rating on Enron's stock to
"market performer" from its "U.S. recommended list," citing "major"
liquidity issues and concerns over whether the company can recover the
business it has lost.

CIBC World Markets also cut Enron to a "hold" from a "buy."

Commerzbank weighed in Wednesday, saying Enron's viability is in doubt.

"We believe the filing clearly shows that Enron remains in a precarious
financial position and its status as a going concern is much in doubt,"
analysts Andre Meade and Andrew Smith wrote. "It appears that Enron's
situation could worsen in a number of ways."

Though Enron's most recent disclosures shed more light on the fiscal
situation, Meade and Smith characterized the information as "piecemeal."

"It appears that the full extent of Enron's problems is not currently
known," they said in a note, cautioning clients against investing in
Enron.


Sara,

I spoke to Susan Hopkinson at SITA.  I proposed an alternative to her
suggested language in the guarantee that dealt with indemnification and she
appeared to take it positively. She stated that she would get back to me very
shortly.  My concern was not with the concept of ENE being a primary obligor
and not simply a surety, but with the whole notion of ENE indemnifying SITA
for any and all kinds of losses should the guaranty become void,
unenforceable, etc.  I'll keep you updated.

Clem

	Sara Shackleton@ECT
	12/04/2000 08:17 AM

		 To: Tom Bruce-Jones/LON/ECT@ECT
		 cc: Clement Abrams/Corp/Enron@ENRON
		 Subject: Re: Sita documentation

Tom:

SITA may be anxious but their lawyers raised a few new issues that we are
responding to.  Also, we have not finalized the Enron Corp. guaranty.  Sara

	Tom Bruce-Jones
	12/04/2000 05:06 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Tanya Rohauer/HOU/ECT@ECT, Lee Munden/LON/ECT@ECT, Matthew
Dawson/LON/ECT@ECT
		 Subject: Sita documentation

Sara

Further to our recent telcon and mails re the above CP, pls can you advise
the status of the documentation, and when the CP can reasonably expect to
receive them.  They are anxious to sign the docs and to commence transacting
at the earliest opportunity.

Any update would be much appreciated so that I can advise the client.

Best regards
Tom


i will be there.

	From:  Colleen Sullivan                           06/02/2000 12:24 PM

To: Judy Townsend/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT, Theresa Branney/HOU/ECT@ECT, Kimberly S
Olinger/HOU/ECT@ECT, Jane M Tholt/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT,
Scott Goodell/Corp/Enron@ENRON, Hunter S Shively/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Donna Greif/HOU/ECT@ECT
cc: Jeffrey A Shankman/HOU/ECT@ECT, Bhavna Pandya/HOU/ECT@ECT, Chris
Gaskill/Corp/Enron@Enron
Subject: Meeting--Friday, June 9

The next meeting regarding EOL capacity trading will be held on Friday, June
9th in EB3321 from 11:00 am to 12:30 p.m.  There is a NYMEX screen in this
conference room, and lunch will be provided.  Please advise if you are unable
to attend.
Topics for discussion are:
- Discuss limitation of pipelines/paths to be initially provided on EOL.
Capacity traders should know which paths are the most desired from a trading
standpoint,  along with the tradability of the capacity on those pipelines.
- Position reporting--Each of the capacity traders should be prepared to talk
about ideas for handling position reporting for their difficult pipelines.
 Judy--TETCO; Dan--Tennessee; Chris--TCO; Theresa-ANR; Jane/Kim - ???
- Bob Superty will give an update on the technical aspect of tying into
pipeline EBBs, and other Logistics issues related to EOL capacity trading.


Dear Industry Professional:

Electric Utility Consultants, Inc., a leading provider of information-packed
conferences specific to the Electric Utility Industry, is pleased to announce
the following important conferences and workshops:

- Overview of the WSCC Market Workshop, October 25, 2000. Denver Colorado
- How to Build a Powerful Brand Workshop, October 25, 2000. Denver, Colorado
- Lessons Learned: Deregulation Progress Report, October 26-27, 2000. Denver,
Colorado
- Distribution System Planning, Maintenance and Reliability Conference,
November 7-8, 2000. Denver, Colorado
- Performance-Based Ratemaking Conference, November 9-10, 2000. Denver,
Colorado

This e-mail contains synopsis' for each of the conferences and links to our
web site where you can obtain full program agendas and register online!

Overview of the WSCC Market
October 25, 2000
Denver, Colorado
http://www.euci.com/Conferences/owsoct00.htm

Synopsis

This half-day workshop will cover the broader structural and policy topics,
which are largely related to deregulation in the electric industry with
particular emphasis on the WSCC region.

Register now! http://www.euci.com/Conferences/owsregonline.htm

How to Build a Powerful Brand
October 25, 2000
Denver, Colorado
http://www.euci.com/Conferences/htboct00.htm

Synopsis

This workshop will focus on providing participants with knowledge and
understanding of the key branding issues. It will describe the elements
necessary for successful branding and will explore some actual successful
applications of branding.

Register now! http://www.euci.com/Conferences/htbregonline.htm

Lessons Learned: Deregulation Progress Report: Strategic Initiatives that are
Working in Active Retail and Wholesale Markets and Shareholder Value Creation
and Latest Developments in Marketing and E-Commerce
October 26-27, 2000 -- Denver, Colorado
http://www.euci.com/Conferences/lldoct00.htm

Synopsis

This conference on electricity deregulation addresses initiatives that are
working in active retail and wholesale markets. Case studies of states where
deregulation has succeeded as planned will also be presented in addition to
major challenges being faced by some states . The conference will address
strategic and shareholder value creation, as well as the latest developments
in marketing and e-commerce.

Register now! http://www.euci.com/Conferences/lldregonline.htm

Distribution System Planning, Maintenance, and Reliability Conference
November 7-8, 2000
Denver, Colorado
http://www.euci.com/Conferences/dspnov00.htm

Synopsis

The conference will address latest issues in modern power distribution
planning, engineering, cost minimization and reliability design principles
and methods as they apply to a modern de-regulated electric power industry.

Register Now! http://www.euci.com/Conferences/dspregonline.htm

Performance-Based Ratemaking Conference
November 9-10, 2000
Denver, Colorado
http://www.euci.com/Conferences/pbrnov00.htm

Synopsis

The Performance-Based Ratemaking Conference will address the current status
of PBR in North America and why utilities are considering adopting PBR. It
will discuss various types of PBR under considerations and pros and cons of
these schemes. The experts will discuss operational and design issues related
to PBR for both transmission and distribution companies. Major discussion
will focus on economic and reliability tradeoffs. The lessons learned from
overseas and domestic applications of PBR will be explored in detail.

Register Now! http://www.euci.com/Conferences/pbrregonline.htm

EUCI is also pleased to announce free subscriptions to our weekly Generation
e-Zine, and our weekly Transmission & Distribution e-Zine. Please click here
for more information: http://www.euci.com/ezines.htm

If you would like further information concerning our other upcoming
conferences, conference proceedings, weekly newsletter or anything else,
please visit our website at www.euci.com.

If you cannot attend these events, please forward this message to others in
your oganization who might benefit from attending.

Best Regards,

L. Mrig
Electric Utility Consultants, Inc. (EUCI)
5555 Preserve Drive
Greenwood Village CO 80121
(303) 770-8800
Lmrig@euci.com

Send us a note if you wish to be removed from our mailing list.


ok .......    I'm lost for words.............


Here is the schedule

Thursday 7th Dec.

10:30  Tracee Bersani
12:30  Gautam Gupta
1:30  Nathan Will
2:30  Eric Bass
3:30  Steve Jacobellis
4:30  Virawan Yawapongsiri
5:30  Kenneth Shulklapper

Friday 8th Dec.

9:00  Ying Lin
10:00  John Howton

Monday 11th Dec.

8:00  Seth Hurwitz

Need response from IIan Caplan and Jennifer Newbrough as to availability.  I
will contact Ricardo to schedule a phone interview.

Remember to send me the following as soon as possible, but definately before
we meet;

Education
Brief job history (non-ene)
Rotations at Enron and to whom you reported
Current job description (projects underway, etc.)
Accomplishments this year (include 1st half)
Name of supervisor that can comment best on your year

Thanks


-----Original Message-----
From: 	Monterrey, Maribel
Sent:	Thursday, October 18, 2001 5:55 PM
To:	Lambert, Karen; Jones, Tana; Schott, Samuel; Brackett, Debbie R.; Clark, Cynthia; Enron Europe Global CounterParty,; Sever, Stephanie; Moran, Tom; Clark, Claudia; Bradford, William S.; Lees, Lisa; Fayett, Juana; Morse, Jana; Le, Trang; Maley, Paul; O'day, Karen; Rohauer, Tanya; Lombardi, Kelly; Lindsay, Brian; EOL Call Center; Hare, Bill D.; Heffernan, Amy; Lafuze, Molly; Clark, Danny; Panus, Stephanie; Mandola, Teresa; Ebow, Amber; Coleman, Tandra; Campbell, Lesli; Lebrocq, Wendi; Taylor, Mark E (Legal); Lauer, Kara; Banner, Kimberly; Mcquade, Jennifer; George, Fraisy; Guillory, Michael; Rajaram, Aparna; Monterrey, Maribel; Lebeau, Maria; Escamilla, Albert; Curry, Ken; Lebrocq, Wendi
Subject:	EOL and Clickpaper Approvals for 10-18-01

Maribel M Monterrey
Office: (713) 853-9048
Fax: (713) 853-9476
Maribel.Monterrey@enron.com


Here they are.  Let me know what I did wrong please.

Thanks,

Jay

 -----Original Message-----
From: 	Hernandez, Elizabeth L.
Sent:	Wednesday, October 24, 2001 1:22 PM
To:	Reitmeyer, Jay
Subject:

The cashout deals are as follows:

	1116929
	1116928
	1116927
	1116918


Good morning!!

Don't forget the Group meeting today in EB38C1 at 10:00 am

tm


John,

I have made the following suggestions/comments to Remi, pending your agreement.

- Brazil VaR looks low ($0.6 MM) - apparently we are using Argentina vol curves instead of Brazil vol curves.
- Book a diesel position for 15 days out of the year when we expect Ecogas to exercise their option and cut us. This will be a rather small short position and Remi will not hedge it at this time.
- Electrobolt: upon completion of construction (7/01?), treat the power plants similar to Modesto Maranzana and New Albany for management purposes, pending resolution of accounting issues.
- Modesto Maranzana positions have been booked (long power and short gas). We will firm-up the P&L in the next few days and book it as well.

Vlady.


Hey Joe,

Please have trade NZ7278 rebooked to Sanguine, Ltd.  I am sending the
attached credit worksheet to Legal so we should include additional language
within the Annex B.  Once you recieve this language from legal, please send
the confirmation without further delay.  Let me know if their are any other
trades that I should be addressing at this time, outside the e-mail I sent
you this morning, and I will address asap.

thanks
brant


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 09/29/2000
05:29 PM ---------------------------

Tanya Tamarchenko
09/28/2000 01:33 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: comparison of 3 vol. methodologies

Vince,
look at this version and give me your comments, please.

Tanya.


That is the purpose of the 30 minute meeting.  We can decide tomorrow on
whether to have the GE call or not.

	Kay Mann@ENRON
	05/15/2001 05:40 PM

		 To: Sheila Tweed/HOU/ECT@ECT
		 cc: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ECT, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt@ECT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ECT
		 Subject: Re: World Hunger Rev 4a- JR

I think we need an internal review to develop responses to positions as
outlined in PT's memo.

Kay

From: Sheila Tweed@ECT on 05/15/2001 04:22 PM
To: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Kay
Mann/Corp/Enron@Enron, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Re: World Hunger Rev 4a- JR

My prior email was written before I read this and it seems like everyone is
geared up for the call with GE tomorrow.  I'm OK with proceeding if everyone
thinks we can resolve some stuff.

	John G Rigby@ENRON_DEVELOPMENT
	05/15/2001 03:03 PM

		 To: Kay Mann/Corp/Enron@Enron, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sheila Tweed/HOU/ECT@ECT, Ed B
Hearn III/HOU/ECT@ECT, pthompson@akllp.com
		 cc: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: World Hunger Rev 4a- JR

  I took several assignments from the last World Hunger call.  Status as
follows:

a.   Tax language-  I have sent a prior version of Rev 4 jr to Matt G asking
him to call me to let me know when he can talk with GE tax rep.  Steve Swifit
and I are in London and would like to sit in on that call.

b.   Insurance Language review.   I sent same version to David Marshall and
Paul Parrish asking for their reviews and opinion as to whether 7FA's are new
technology.

c.   I "volunteered" to look at the termination language in world hunger, GE
had some problems, and I had the same problem with the ARCOs contract.   I
drafted a fix last Friday, sent to Kay M for comment.  I have included my
suggested changes in the attached redline.  I have forwarded same fix to GE
at end Friday for Arcos.    I have asked Kay if she still has a concern with
the Limit of Liability as it relates to termination.  I think it works.

d.  I "volunteered" to work over Article 10, Exhibit B-3 and Exhibit B-6 in
relation to Guarantees and liquidated damages.  I have done that in the
attached redline of the T&C and Exhibits.

e. Some time ago I volunteered to resurrect the language associated with the
reduction in the LD refund in Section 10.9.8.   I had sent out a couple weeks
ago but received no reaction.    I have entered that fix in the attached
redline.

f.  I have made several minor changes to definitions associated with
performance.

Attached is Rev4-JR version of GE T&C's and Exhibits for world hunger.  They
start from the clean rev 4 version of the T&Cs that Peter forwarded to me at
my request.  The attached are redlined to show my changes.

I have not sent any of this to GE except for the termination language fix.
I suggest that the Enron team give these a quick read before the World hunger
call.  I can print same here and share with GE during the call unless there
is an objection.

I hope this will help to advance the process.  My earlier emails to Paul and
Matt were not intended confuse the situation with different drafts.  Please
ignore those and for the above purposes use the attached files.

Kay- I suggest that you forward to others who you feel appropriate for the
purposes of the world hunger call on Wednesday.


I have 4 tickets for Friday. I don't know if they are good, bad or what but they are free. Talk to you later.

Chris


Start Date: 1/12/02; HourAhead hour: 15;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011215.txt


Julia and Steve--here are some questions I've sent to Darrell on the TW Cal.
border line pack sales.  I'd like him to pull in the right people to get me
the answers so we will be prepared if we need to explain these events.
Darrell--I thought I'd better let your bosses know that I've been putting
more stuff on your already full plate.  Thanks all.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 03/06/2001
08:54 AM ---------------------------

Drew Fossum
03/05/2001 04:23 PM
To: Darrell Schoolcraft/ET&S/Enron@ENRON
cc: Danny McCarty/ET&S/Enron@Enron, Steven Harris/ET&S/Enron@ENRON, Kevin
Hyatt/Enron@EnronXGate

Subject: TW Gas Sales: PRIVILEGED AND CONFIDENTIAL ATTORNEY CLIENT PRIVILEGE

In anticipation of potential litigation involving TW's operational
activities, please prepare an analysis for me of the reasons for TW's sale of
excess natural gas at the California border.  I am aware of several of these
sales and have been  informed that excess pressure at the border is the basic
reason for them.  I'd like a more specific explanation that includes the
following information:
1.  What are the specific pressures and volume considerations that could make
it operationally necessary to sell gas at the California border?
2.  What is the process that is followed to make such a determination?
3.  Which individuals or groups are involved in determining whether an
operational sale is necessary?
4.  In what way have system operations changed since last year and how do
those changes contribute to the increased frequency of such sales compared to
previous years?
5. What alternatives to operational sales are considered before the decision
to make a sale is reached?

Thanks for your attention to this request.  Please give me a call to discuss
and please designate your response as "Privileged and Confidential, Attorney
Client Privileged."


Mike,

Please, schedule an interview with this guy.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/22/2000
05:01 PM ---------------------------

	From:  Jennifer Fraser                           12/21/2000 07:32 AM

To: Jeffrey A Shankman/HOU/ECT@ECT, Chris Mahoney/LON/ECT@ECT, Mike A
Roberts/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc: Stewart Peter/LON/ECT@ECT, Niamh Clarke/LON/ECT@ECT
Subject: Weather Person for London EGM

Folks:
We interviewed three candidates. One of the three (Tony Hamilton)  seems to
be a very good fit within the Enron culture and values.
Recommended Next Steps
Vince, Mike and Jeff interview Tony via video conference or avistar

Tony Hamilton Key Strengths
Quick thinker
Good teams skills
Driven - will be able to get the project off the ground quickly
Has a commercial attitude
Sees "the big picture"

Tony Hamilton is available for follow up interviews the first week of January.
Thanks
Jen


Hi, Sal.   Just thinking about the weekend . . .  Any ideas for what we
should do?  Is there a fun place to go to dinner on Saturday?   Sunday is
Father's Day - are you going to want to go to church? (should we bring
clothes?)     Last time I visited you, I decided I would keep the Houston
directions somewhere - but, of course, I don't know where that is.   So,
could you send me directions yet one more time?  THanks!    Love, Cara

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


CALENDAR ENTRY:	APPOINTMENT

Description:
	 Staff Mtg. Conference room EB4102

Date:		12/17/2001
Time:		10:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Shane,

Thanks for your message.  As a matter of fact, I expected your resume in time
for our summer internship program.

We shall be glad to invite you for an interview. How long "sabbatical" do you
envisage?

Vince

P.S. Shirley,   please, call Shane to arrange an interview with HR.

"Shane Green" <shanecgreen@earthlink.net> on 06/19/2000 02:14:00 PM
To: <vkamins@enron.com>
cc:
Subject:

Dr. Kaminski:
?
You probably won't remember my name, but I am the Ph.D.  student that took
you back to the airport after your visit to Louisiana State  University
during the previous academic year.
?
I received my M.S. in Finance in May of last year, and chose  to?remain at
LSU to work on my Ph.D. At that time, I intended to pursue a  career
in?teaching and research at a four year college or university.?  In
part?because of your visit,?and my?primary interest in  normative research,
my?plans have changed.? While I?still want to  earn my Ph.D.,?I plan to
pursue a career in research in the private  sector.
?
As you know, Ph.D. programs in financial economics are  designed to train
future academics.? Not surprisingly, they emphasize  methods to approach the
types of questions that are of interest to finance  academics.? What did
surprise me, however, was that these areas of interest  often had little to
do with what I imagined to be the concerns of practitioners  in the real
world.? As you mentioned in your discussion, academic  researchers know
little about what their counterparts in the private sector
are?doing.?????????????????????????????????????
?
In light of my objective, I feel I would get the most out of  the remainder
of my doctoral studies if I took some time off to work in the  private sector
to see first hand the?types of challenges I can expect to  face as a
researcher in corporate America.? As my primary interests revolve  around the
use of derivatives and financial engineering in corporate risk  management,
Enron, as the leading innovator in these areas, would be an ideal  place to
learn.? I was wondering if you were aware of any openings at the  company
that might provide me with the exposure I am looking for.? If there  are no
such positions or opportunities, any advice or suggestions you could give
me,?such as whether or not you think such a "sabbatical" (for lack of a
better term) would be helpful, or information on private sector careers for
Ph.D.'s would be greatly appreciated.?
?
I am sending a current copy of my vita as an attachment.?  If you have any
questions my e-mail address is sgreen@finance.lsu.edu.? Thanks  for your help
and advice.
?
?
Cordially,
?
?
?
?
Shane Green
?
?
?????
 - Vita.doc


I will need to see the CGAS invoices for Dec when we get them.  According to
New Power, we should have overrun charges.

---------------------- Forwarded by Chris Germany/HOU/ECT on 12/27/2000 08:53
AM ---------------------------

Chris Germany
12/27/2000 08:53 AM
To: Jeffrey Porter/HOU/EES@EES
cc:
Subject: Re: 22nd

That makes sense.  So you really are not using any ENA space but then I need
to check the overrun charges on the invoice.  If its ok with you, I think
I'll just wait to review the invoice before I do anything with that.

12/27/2000 08:47 AM
Jeffrey Porter@EES
Jeffrey Porter@EES
Jeffrey Porter@EES
12/27/2000 08:47 AM
12/27/2000 08:47 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: 22nd

I know we overan SST in COH.  Our nom was lower, but the retro increased.
Alvin & Joanne were checking TCO. We are hoping they don't cut us and don't
want to tip them that they could.


new pics!

 http://www.wtcares.org/CARES_family_album_1.htm
 <<Meet some CARES Kids.url>>


With respect to the payment of invoices, and the LC for the first unit, what
do we need to do in light of Section 6(a) in the Letter Agreement? Let's talk
about this in our meeting tomorrow.

Regards,

Ben

Kay Mann@ENRON
05/17/2001 08:40 AM
To: Ben F Jacoby/HOU/ECT@ECT
cc: Chris Booth/NA/Enron@Enron
Subject: Re: Blue Dog Max monthly report

We aren't required to, but I don't see a downside to sending it.

	From:  Ben F Jacoby @ ECT                           05/16/2001 08:07 PM

Sent by: Ben Jacoby@ECT
To: Chris Booth/NA/Enron@ENRON
cc: Kay Mann

Subject: Re: Blue Dog Max monthly report

I would think so. Please confer with Kay before we do.

Thanks,

Ben

	Enron North America Corp.

	From:  Chris Booth @ ENRON                           05/16/2001 04:07 PM

To: Ben Jacoby/HOU/ECT@ECT
cc:
Subject: Blue Dog Max monthly report

Ben,

Should we send this to Mike Young?

Chris
---------------------- Forwarded by Chris Booth/NA/Enron on 05/16/2001 04:06
PM ---------------------------

jeffrey.darst@ps.ge.com on 05/10/2001 02:55:58 PM
To: chris.booth@enron.com, matthew.tezyk@enron.com
cc:

Subject: Blue Dog Max monthly report

 - Monthly Report 01-05-10.PDF


Attached for your review and approval are the press release announcing the
merger plan with Azurix and a Q&A document.  Both have been approved by Mark
Metts and Lance Schuler.  Pending signature of the merger agreement tonight,
we plan to release concurrently with Azurix before the market opens tomorrow
morning.

If you have any comments or changes, please call Mark Palmer at x34738 before
6 a.m. tomorrow.

Thank you.
Karen


---------------------- Forwarded by Vasant Shanbhogue/HOU/ECT on 11/28/2000
12:29 PM ---------------------------

	Clayton Vernon @ ENRON
	11/28/2000 12:10 PM

To: Vasant Shanbhogue/HOU/ECT@ECT
cc:
Subject: EOL Project

Vasant-

As we speak, I am in the process of working thru the bugs in the new software
product, Data Beacon, commercial has purchased for OLAP.

OLAP refers to Online Analytical Processing. The term is somewhat a misnomer.
The analyses capable by OLAP are not extensive. What OLAP is is a viewer of
empiric data. It is to data as a browser is to published pages.

Data Beacon is a gorgeous product, Vasant, and it will permit easy
tabulations and reporting from even the largest databases, including EOL. I
have continued to listen and store every EOL trade (now over 500,000 of them)
and the resulting "cube" contains well over 1,000,000 records.  Within
minutes, you will be able to come to any slice of the data you want, and view
it in any format (table, graph, chart) you want, and export it to any
software you want. You can save thiese views and come back to them with a
click of the mouse.

The EOL listener, parser and marking-to-market run as compiled C code. They
are completely stable- they have been running for three weeks now without
fail since the last re-boot of the server. They automatically restart if the
server reboots.

The second part of the EOL  project is SAS. It has been paid for by
commercial, and I have worked very hard to facilitate the installation of it
and the training in it. I have personally instructed over 30 people here at
Enron in its use.

Where we are is an ongoing installation of Data Beacon, which should be
finished today or tomorrow. It will take me one day to write the scripts to
automatically "refresh" the cube as information arrives. Then, it will take
me one day to make sure the dimensioning of the cube is appropriate.

Finally, we have tested a web-based database constructor for the Research
Department, which will prospectively build real time time series databases
for you based on your specific designs.

I will deliver this compprehensive reporting solution to you this week.

Clayton


Joe,

Below are articles that state that deregulation is better for everyone in the
long run and though the California issue is bad, currently, it is not because
of deregulation, but because of transmission and generation issues.

''A deregulated world is the right market for electricity,'' said Ron Walter,
senior vice president at Calpine, an independent power producer in San Jose
that is building three plants.

New York Times Article
------------------------------------------------------------------------------
--------------------------------------------------
The root cause of California's electricity crisis is regulation, not
deregulation.

------------------------------------------------------------------------------
------------------------------------------------------

Other States are learning from CA deregulation and believe that there
deregulation will be more successful. Electric utility deregulation is
sending up sparks in California, but that's not short-circuiting other
states' plans.
At least for now, many are pledging to learn from California's mistakes and
forge ahead by opening their own markets.
Texas, Ohio and Michigan are among 25 that have passed deregulation laws but
not yet put them into effect. The three heavy industrial electricity users
have big plans for competition.

------------------------------------------------------------------------------
------------------------------------------------------------------------------
-------------------

Enron is mentioned in this article along with Boeing stating that..."We've
certainly been exposed to the higher prices, and it's uncomfortable in the
short term," said Keith Warner, the energy manager at Boeing, which spends
about $200 million on power in the U.S. annually. "But in the long term,
deregulation and open access (to transmission from other electric companies)
is where we want to be. In every deregulation we've gone through in this
country, competition has lowered prices."

------------------------------------------------------------------------------
------------------------------------------------------------------------------
-----------------
This shows a more even view of deregulation stating its faults and its
advantages. "The lack of supply has to do with deregulation and the
uncertainty of a financial return on new investment of generation,"
Borenstein said. "But we still would have a supply problem under regulation
and prices would still be high."

------------------------------------------------------------------------------
------------------------------------------------------------------------------
----

Mercury News article states it is not time to re-regulate the markets and
provides the following solutions to solve the crisis. Article Below.
Matters will improve when California has:
-> More sources of power.
-> A more sophisticated electricity market.
-> Smarter consumers -- that is, consumers with the information they need to
be thrifty.
Also the article talks of the Power Exchange (PX) and the Independent System
Operators (ISO) and how these two groups are making the prices higher; i.e
market imperfections that result from the uniqueness of electricity as a
commodity and the immaturity of the new exchanges are enabling producers to
obtain higher prices than the underlying conditions dictate.
Article concludes by saying the deregulated market is just beginning and with
a few adjustments will work out fine


Please find attached the Power Credit Watch List for October 22:

Please reply with any questions.

Thank you.

Kortney


-----Original Message-----
From:  navigator@nisource.com@ENRON
[mailto:IMCEANOTES-navigator+40nisource+2Ecom+40ENRON@ENRON.com]
Sent: Thursday, May 17, 2001 4:08 AM
To: navigator@nisource.com
Subject: CAPACITY UPDATE EFFECTIVE FOR MAY 18, 2001

                      COLUMBIA GAS TRANSMISSION CORPORATION
                        NOTICE TO ALL INTERESTED PARTIES
                                  MAY 17, 2001

Notice ID: 2735
5 - NO RESPONSE REQUIRED

                 CHANGES ARE INDICATED WITH AN *

Effective Friday, May 18, 2001, capacities will be as follows:

Excess MDWQ            Available +
ISS Withdrawals        Available
SIT Withdrawals        Available
Imbalance Drawdowns    Available
Pal Lends              Available

Excess MDIQ            NOT Available +*
ISS Injections         NOT Available  *
SIT Injections         NOT Available  *
Imbalance Paybacks     NOT Available  *
PAL Parks              NOT Available  *

+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.

Receipt capacity will be as follows:

TENNESSEE:

Brinker (B12)            20,000
Broad Run (B9)          450,000
Cambridge (B10)          10,000
Dungannon (B11)          40,000
Highland (B17)           25,000
Milford (B18)            30,000
North Greenwood (B22)    10,000
Unionville (B15)         75,000

TEXAS EASTERN:

Delmont (C16)                 0
Eagle (C22)              30,000
Hooker (C9)              25,000
Pennsburg (C23)          50,000
Windridge (C12)          60,000

NATIONAL FUEL:

Independence (M1)        10,000
Ellwood City (L1)        10,000

TRANSCO:

Downingtown (E3)          5,000
Emporia I (E13)         120,000
Rockville (E2)           65,000
Dranesville (E1)         25,000

ALGONQUIN:

Ramapo (R1)              50,000

ANR:

Paulding/Cecil          100,000
(F1, A2)

LEBANON AGGREGATE       225,000
(A4, F2, C4, D3)

TOLEDO AGGREGATE        225,000
(A3, F4, 734462)

COLUMBIA GULF:
(801)

TCO-Leach             2,218,000

Internal point non-firm capacity will be as follows:

Lanham                No Restrictions

Delivery capacity (non-firm) will be as follows:

TRANSCO:

Martins Creek (MA 21)    25,000
Young Woman's Creek       5,000
   (MA 36)

ALGONQUIN:

Hanover (MA 22)         143,000

EQUITRANS:

Fallen Timber (MA 35)    35,000
(MLI K1)

Waynesburg-Rhinehart     30,000
(MA 26) (MLI K2)

OPT-30 will be available in all market areas.
OPT-60 will be available in all market areas.

Market Area delivery capacity (non-firm) will be as follows:

Operating Area 1
     Market Area 33       25,000
     Market Area 34       25,000

Operating Area 2
     Market Area 20       No Restrictions

Operating Area 3
     Market Area 15       No Restrictions
     Market Area 16       No Restrictions
     Market Area 17       No Restrictions
     Market Area 18       No Restrictions
     Market Area 19       No Restrictions

Operating Area 4
     Market Area 21       No Restrictions
     Market Area 22       No Restrictions
     Market Area 23       No Restrictions
     Market Area 24       No Restrictions
     Market Area 25       No Restrictions
     Market Area 29       No Restrictions

Operating Area 5
     Market Area 02       No Restrictions
     Market Area 07       No Restrictions

Operating Area 6
     Market Area 10       No Restrictions
     Market Area 11       No Restrictions
     Market Area 12       No Restrictions
     Market Area 13       No Restrictions
     Market Area 14       No Restrictions

Operating Area 7
     Market Area 01       No Restrictions
     Market Area 03       No Restrictions
     Market Area 04       No Restrictions
     Market Area 05       No Restrictions
     Market Area 06       No Restrictions
     Market Area 08       No Restrictions
     Market Area 09       No Restrictions

Operating Area 8
     Market Area 26       No Restrictions
     Market Area 27       No Restrictions
     Market Area 32       No Restrictions
     Market Area 35       No Restrictions
     Market Area 36       No Restrictions
     Market Area 38       No Restrictions
     Market Area 39       No Restrictions
     Market Area 40       No Restrictions

Operating Area 10
     Market Area 28       No Restrictions
     Market Area 30       No Restrictions
     Market Area 31       No Restrictions

If you have any questions, please contact your Account
Representative.


FYI

-----Original Message-----
From: Sara Myers [mailto:ssmyers@worldnet.att.net]
Sent: Monday, May 21, 2001 3:38 PM
To: Case.Admin@sce.com; sesco-lf@att.net; kmccrea@sablaw.com;
johnj@bradyberliner.com; DavoodiKR@efaches.navfac.navy.mil;
bob_anderson@apses.com; rcsstl@cdmnet.com; mbrubaker@consultbai.com;
wcamp@mail.pnm.com; fspasaro@socalgas.com; napedersen@jonesday.com;
afinley@mwd.dst.ca.us; athomas@newenergy.com; lgurick@calpx.com;
douglass@arterhadden.com; utilities@azusa.ca.gov; julie.miller@sce.com;
rjuels@scwater.com; burkee@cts.com; fmo@sdcity.sannet.gov;
jleslie@luce.com; pszymanski@sempra.com; stan.marks@nrgenergy.com;
mshames@ucan.org; jwalsh@sdge.com; information@competisys.com;
dkolk@compenergy.com; rboyd@enron.com; btenney%landuselaw.com.@sce.com;
dhmaynor@worldnet.att.net; furutanj@efawest.navfac.navy.mil;
mdjoseph@adamsbroadwell.com; fosterbc@sce.com; KFreeman@sempra.com;
rcosta@turn.org; yladso19@idt.net; jes@cpuc.ca.gov;
chrisw@greenlining.org; susan.brown@lif.org; imoosen@gralegal.com;
oshirock@pacbell.net; phanschen@mofo.com; scarter@nrdc.org;
chilen@llgm.com; bloomje@la.whitecase.com; blunden@hotmail.com;
mrostker@gmssr.com; spbl@cwclaw.com; rgex@skjerven.com; mday@gmssr.com;
lindseyhowdowning@dwt.com; pxo2@pge.com; rochmanm@spurr.org;
rumla@earthlink.net; igsinc@ix.netcom.com; wbooth@booth-law.com;
mgomez1@bart.gov; askaff@energy-law-group.com; pjpowerlaw@aol.com;
rbw@mrwassoc.com; difellman@energy-law-group.com; dmarcus@slip.net;
rschmidt@bartlewells.com; gmorris@emf.net; tomb@crossborderenergy.com;
brbarkovich@earthlink.net; pmcdonnell@txues.com;
mpretto@ci.santa-clara.ca.us; elozowicki@sjo.coudert.com;
bmcc@mccarthylaw.com; chrism@mid.org; bill@jbsenergy.com;
cmkehrein@ems-ca.com; pvermeulen@resis.com; lwhouse@el-dorado.ca.us;
cabaker@duke-energy.com; ed@clfp.com; mboccadoro@aol.com;
bob.burt@macnexus.org; abb@eslawfirm.com; pstohr@dbsr.com;
hylaw@pacbell.net; njohnson@ciwmb.ca.gov; kmills@cfbf.com;
conkling@up.edu; jcpaine@stoel.com; dan@meek.net; dws@keywaycorp.com;
terrence.moran@pseg.com; bbarclay@kslaw.com; dwmp@dwmpdc.com;
tgaljhc@aol.com; dnorris@sppc.com; dnelson@sppc.com;
cyounger@manatt.com; dhuard@manatt.com; rkeen@manatt.com;
RASHORTZ@morganlewis.com; JOHNSONPAMELA@LACOE.EDU;
jsilva@edisonenterprises.com; jbarthrop@www.electricamerica.com;
ewills@globalfrontiers.com; ppejh@west.net; aliciato@msn.com;
jxm@cpuc.ca.gov; saw@cpuc.ca.gov; ek@a-klaw.com; sandreson@mofo.com;
epoole@adplaw.com; jasonm@newsdata.com; pbray@newpower.com;
mathewtrask@earthlink.net; ell5@pge.com; white@gsb.stanford.edu;
rfigueroa@rhainc.com; gtbl@dynegy.com; sia2@pwrval.com;
honest@compuserve.com; blaising@braunlegal.com;
TWETZEL@THERMOECOTEK.COM; pprice@quiknet.com; jdh@eslawfirm.com;
jonathan.teague@dgs.ca.gov; braun@cmua.org; ddavie@hesinet.com;
mpa@a-klaw.com; nancy.towne_smith@pacificorp.com; josterberg@wwpco.com;
ang@cpuc.ca.gov; ctd@cpuc.ca.gov; edf@cpuc.ca.gov; dmg@cpuc.ca.gov;
dot@cpuc.ca.gov; yee@cpuc.ca.gov; hms@cpuc.ca.gov; jjj@cpuc.ca.gov;
jsw@cpuc.ca.gov; jab@cpuc.ca.gov; jci@cpuc.ca.gov; lss@cpuc.ca.gov;
mdm@cpuc.ca.gov; mlc@cpuc.ca.gov; wsc@cpuc.ca.gov; sfc@cpuc.ca.gov;
shg@cpuc.ca.gov; scr@cpuc.ca.gov; wsm@cpuc.ca.gov;
dfukumot@energy.state.ca.us; kgriffin@energy.state.ca.us;
dhungerf@energy.state.ca.us; LKristov@energy.state.ca.us;
mjaske@energy.state.ca.us; mmesseng@energy.state.ca.us; rax@cpuc.ca.gov;
fdeleon@energy.state.ca.us; mck@cpuc.ca.gov
Subject: R94-04-031/I94-04-032 Enron Wind Corp Response to SCE Motion

TO:  All Parties in R.94-04-031/I.94-04-032

    Please find attached the Response of Enron Wind Corporation to the
Motion of SCE to Establish a Framework and Criteria for its Power
Procurement Practices.  This response was also filed and mailed to all
appearances and the state service list today.

    If you have any questions, please contact Sara Steck Myers at (415)
387-1904.

 - R94-04-031 & I94-04-032 EWC Response To SCE Motion 5-21-01.doc
 - CERTIFICATE OF SERVICE.doc


Following last week's meeting, here is my recommendation on how to proceed with SCE.

1.	Form Enron Negotiation Team

	My recommendation is to use the same team we used with PG&E + Jeff Dasovich.  My understanding was that Lisa M. was the lead negotiator - I would not change this.  Jeff should only be there to make introductions.

2.	Meet & Confer (10/29)

	Sue Mara and Jeff Dasovich will listen and report back to everyone on what happens.

3.	Reformed Stipulation

	I would propose that we take a wait and see approach to this document.  Based on Dasovich's idea to get together with SCE on Thursday, maybe let this ride.

4.	Meeting

	My understanding is that (Jeff D. please correct) SCE can meet with us this Thursday.  Can everyone make it that needs to be there?  Probably meet in California.  We should put the laundry list on the table.

Please let me know what else we need to discuss or if anyone disagrees.

Thanks,

Jim


missing deal for jeff richter

selling smud
175.00
10th
25 mw
np-15

thanks!


I want to place a $1 bid for Matt Hasselback- QB GB

I WOULD ALSO LIKE TO CANCEL MY BID FOR MIKE ANDERSON


can i write you a check for this?  and, by the way, have people been paying you, because alot of people dont read their email

 -----Original Message-----
From: 	Rangel, Ina
Sent:	Monday, November 12, 2001 8:43 AM
To:	Reitmeyer, Jay; Scott, Susan M.; Heu, Mog; Huang, Jason; Ermis, Frank; South, Steven P.; Gay, Randall L.; Tholt, Jane M.; Kuykendall, Tori; Lenhart, Matthew; Wolfe, Jason; Smith, Matt; Holst, Keith
Subject:	Re: Boss Day Present

I keep forgetting to ask you, but I need to collect $12 from each of you for Mike's boss's day present.

Thanks!
Ina


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 06/09/2000
09:09 AM ---------------------------

"Steve Holmes" <Steve.Holmes@dvn.com> on 06/09/2000 09:06:45 AM
To: <Ami.Chokshi@enron.com>, <Darren.espey@enron.com>, <mschrab@enron.com>
cc:

Subject: HI325 and HI 368 Revision Effective 6/10/00 (HIOS P/L)

Please see the attached revisions to be effective 6/10/00 on HI 325 and HI
368 platforms.

Darren - We will probably make another change to HI 368 effective Tuesday,
June 13 once we hear from the pipeline on reallocating the gas.  I will let
you if we need to change the nom for Tuesday, June 13.

Please let me know of any questions you have.

Thanks,

 - HI325reveff061000.xls
 - HI368reveff061000.xls


Audrey,

All of my time was normal time.

Thanks,

Paul

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Tuesday, October 30, 2001 2:45 PM
To:	Donoho, Lindy; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; Watson, Kimberly; Y'Barbo, Paul
Subject:	Time Reports are Due Tomorrow!!

Please submit....

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax


---------------------- Forwarded by V Charles Weldon/HOU/ECT on 05/17/2001 11:26 AM ---------------------------

	  From:  Doug Leach                           05/17/2001 10:52 AM

To:	V Charles Weldon/HOU/ECT@ECT
cc:
Subject:	Inspectors

ITS Caleb Brett--Russell Leach (713) 844-3301
Saybolt--Larry Hodson (713) 477-8171

Saybolt is the one that tested the low sulfur diesel sample. Charges were $134.00.


The memo to investors says that a new law will take effect on Aug 13 that
puts in place shortened appeal times at the CPUC.  The memo says that the
CPUC does not need to act on the key issues, including suspension of DA,
until Aug 13 or later.  It also says the bonds are now to be sold in
Sept-Oct. The memo states that the CPUC, Governor, Treasurer, etc. have
agreed with the new timetable.

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 07/03/2001 09:20 AM -----

	"Manuel, Erica" <Erica.Manuel@edelman.com>
	07/03/2001 08:38 AM

		 To: "Allen, Stevan" <stevan.allen@edelman.com>, AReM <arem@electric.com>,
"Douglas Oglesby (E-mail) (E-mail)" <doao@chevron.com>, "Fairchild, Tracy"
<tracy.fairchild@edelman.com>, "Jeffrey Hanson (E-mail) (E-mail)"
<jeff.hanson@phaser.com>, "Joseph Alamo (E-mail) (E-mail)"
<jalamo@enron.com>, Megan Beiser <megan.beiser@edelman.com>, "'Robert Morgan'
(E-mail)" <rmorgan@newenergy.com>, "Warner, Jami" <jami.warner@edelman.com>
		 cc:
		 Subject: FW: Investor Memo - Timetable Update

I just received this document from Angelides' office - it's a memo outlining
a revised timetable for the PUC actions required for the bond sale. FYI. EM.

-----Original Message-----
From: Philip Angelides, Calif State Treasurer
[mailto:philip_angelides@treasurer.ca.gov]
Sent: Tuesday, July 03, 2001 7:38 AM
To: FITZPATRICK, Charles
Subject: Investor Memo - Timetable Update

Please note the update regarding the State of California DWR Power Bonds
provided in the attached memo.

 <<Investor Memo -- Timetable Update 7-2-01.pdf>>

If you have any questions, please contact Charles Fitzpatrick at (800)
900-3873.

 - Investor Memo -- Timetable Update 7-2-01.pdf


Do not want to go to Vegas-been there too much already this year.  I am going
to have a message in Co.  Good job on the fare-that's cheaper than mine.  If
you want to stay at the RIOin Las Vegas-Southwest Gas has a cheap corporate
rate that you can get-it's off the strip but it's nice. Every room is a
sweat.  Just call and ask for it.


---------------------- Forwarded by Thomas A Martin/HOU/ECT on 03/20/2001 03:50 PM ---------------------------

Thomas A Martin
10/10/2000 05:27 PM
To:	Patrick Wade/HOU/ECT@ECT
cc:
Subject:	HPL Transportation and Storage

Patrick,

I forwarded the information regarding the variable costs of transportation to Ed McMichael as you requested.  The storage has no forward value, it was included to take advantage of opportunities as they occur.  I want to be clear AGAIN about how the transportation transaction should be accrual upside and not booked as MTM as our view is that the spreads will compress over time and any spread value that exists from the curves today will likely go away or be significantly reduced over time .  I thought Lavorado was very clear that he did not want to book MTM value against these deals.  Am I missing something?

Tom


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/27/2000
08:01 AM ---------------------------

Vince J Kaminski
06/20/2000 04:27 PM
To: Kenneth Lay/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT
Subject: Re: Molecular Electronics Corp. Working Lunch

Ken,

I shall be glad to join you for lunch with MEC.

Vince Kaminski

Kenneth Lay@ENRON on 06/20/2000 04:23:31 PM
Sent by: Rosalee Fleming@ENRON
To: Philippe A Bibi/HOU/ECT@ECT, Jay Fitzgerald/Corp/Enron@ENRON, Steven J
Kean/HOU/EES@EES, Joe Hirko/Enron Communications@Enron Communications, David
Berberian/Enron Communications@Enron Communications, Rex Shelby/Enron
Communications@Enron Communications, Mike McConnell/HOU/ECT@ECT, Greg
Whalley/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Mark Lay/HOU/ECT@ECT
cc: Vanessa Groscrand/Corp/Enron@ENRON
Subject: Molecular Electronics Corp. Working Lunch

On Tuesday, July 25, I am meeting with Molecular Electronics Corp. (MEC) to
discuss the opportunity for establishing this newly formed company in
Houston.  For those of you that are not familiar with MEC, they are
considered one of the premier companies in the area of molecular computing.
MEC has approached Enron to discuss a possible alliance that would facilitate
their development and, in particular, location in the Houston area.  MEC
represents the frontier of computing technology.

I would like to invite you to participate in a working lunch discussion of
the opportunities and obstacles facing a company that is seeking to change an
industry.  I would appreciate it if you could join us on July 25  from 11:30
to 1:30 in EB49C1 for this informal roundtable with the CEO of MEC, Harvey
Plotnick and one of the founders, Jim Tour.

Will you please let Vanessa Groscrand know if you can attend at 713-853-1769
or please reply by e-mail to me.

Ken Lay


Jim,

The files are saved in:

O:\Portland\Westdesk\VolumeManagement\VolumeMgmt\Meter Resubmittals

Please let me know if you have any questions.

Donna


Frank:

Did I hear you mention that you were going to work on the "EOL no written
confirmation" letter?  Or is Mark?  Please let me know.   Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 05/21/2001 04:00 PM -----

	Larry Joe Hunter
	05/21/2001 03:28 PM

		 To: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: AEP Master Amendments

Mark/Sara,

We are attempting to get two amendments to the ISDA with AEP right now.
Mark, you are working on the Amendment allowing for EOL Transactions to not
need written Confirmations and Sara is working on an amendment that will
change the Confirming Party to ENA (for some reason, AEP was allowed to be
the Confirming Party when the Master was drafted.)   At any rate, is it
possible that we send both of these amendments to AEP at the same time?  We
want to make sure that AEP views these amendments together and sign off on
both.  We think they'll be more comfortable signing them both at once rather
than a couple of weeks apart.

Let me know.

Thanks,
Joe Hunter


yes

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 07/14/2000
02:31 PM ---------------------------

Richard Tomaski@ENRON
07/14/2000 08:22 AM
To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject: EOL - Park & Loan Transaction

Hunter,

Did you take care of this?

---------------------- Forwarded by Richard Tomaski/Corp/Enron on 07/14/2000
08:22 AM ---------------------------
From: Stephanie Sever@ECT on 07/12/2000 05:11 PM
To: Hunter S Shively/HOU/ECT@ECT, Richard Tomaski/HOU/ECT@ECT
cc:
Subject: EOL - Park & Loan Transaction

Please let me know the names of the internal traders who will need execute
rights to the new Park & Loan transaction.

Hunter,

Are you going to want a separate risk book for these transactions and will we
want this set up on EOL?

Thanks for your help.
Stephanie x33465


that what i said


Good morning ladies:

Just wanted to send out a  friendly reminder to please provide Mary Cook with
Canada reports by the end of the day on Thursday.  Thanks.

Esmeralda Gonzalez
Enron North America Corp.
Legal Department
1400 Smith Street, EB3815
Houston, Texas 77002
e-mail: esmeralda.gonzalez@enron.com
Phone: 713-345-7621
Fax: 713-646-3393


Attached is the presentation and speech notes that Ken Lay used on Wednesday
at the Austin meeting with Bush, etc.


Our net nymex equivalent position for today's exotics portolio is 21
contracts .  I changed the pubcode for the spread options from a basis curve
(CGPR-AECO/BASIS)  to a Fixed Price Curve (AECOUS) so hopefully this will
help us reconcile.


Any possibility of a conference room on Tuesday, Feb 27 from 10 am - 12 pm?

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


thanks for the work on the new locations the changes are as follow below.

From:  Melba Lozano
  02/14/2001 11:54 AM

To: Steven P South/HOU/ECT@ECT
cc: Chris Walker/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Kevin
Meredith/Corp/Enron@ENRON
Subject: Please review new locations

Steve,

Please review the attached language for the new locations.

Thanks,

Melba
58986

Location:	Misc.Northwest pipeline gas  North of Green River
Abbreviation:
(as it appears on the web)
	< NW No. GR >
Sort Code:	4550
Description:
(as it appears on the web)	The transaction is for receipt point gas, North of
Green River, south of Kemmer at seller,s choice of point on Northwest
Pipeline.
REQ'D BY:	Steve South

Location:	Misc. Northwest pipeline gas  South of Green River
Abbreviation:
(as it appears on the web)
	< NW So. GR>
Sort Code:	4550
Description:
(as it appears on the web)	The transaction is for receipt point gas, South of
Green River at seller,s choice of point on Northwest Pipeline.
REQ'D BY:	Steve South


he's a trip


Whatever happened to this?

	Michael A Robison
	01/10/2001 09:15 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Dugas

Richard:
Please review per my voicemail.
Thanks,
Mike
EB3847
(713) 853-6667 DID
(713) 646-4842 FAX

----- Forwarded by Michael A Robison/HOU/ECT on 01/10/2001 09:14 AM -----

	Michael A Robison
	01/09/2001 11:25 PM

		 To: John L Nowlan/HOU/ECT@ECT, Jim Goughary/HOU/ECT@ECT, Ted
Robinson/HOU/ECT@ECT
		 cc:
		 Subject: Dugas

I 've been tied up with the Envera deal so I have not had much time to draft
the attached letter.  It is very direct and you may want to take a different
approach.  Let's discuss.

Mike
EB3847
(713) 853-6667 DID
(713) 646-4842 FAX


It's not good.  Davis wants to cut the price caps in half.  He believes you
need to keep the utilities in good financial shape or there won't be any
"California-based companies to invest in generation and transmission." And he
wants "CA companies to determine the destiny of CA consumers".  All this
sounds pretty bad to me.
---------------------- Forwarded by Susan J Mara/SFO/EES on 10/02/2000 11:08
PM ---------------------------

US Publishing <season@restructuringtoday.com> on 10/02/2000 09:07:48 PM
Please respond to season@restructuringtoday.com
To: "RT Reader" <season@restructuringtoday.com>
cc:
Subject: Restructuring Today, Tuesday October 3, 2000

(see attached file:  rt001003.pdf)

Thank you,

Season Hawksley
US Publishing
1-800-486-8201
www.restructuringtoday.com
season@restructuringtoday.com

 - rt001003.pdf


The following information relates to our equity stake in Turkish oil products
distributor, OPET. The information contained in OPET.doc is to be included as
part of an information sheet on OPET and its business partners.  It is
neither a stand alone document nor a press release.

The attached info sheet will be translated into Turkish and will be included
in an OPET information packet to be made available to guests (which may
include some Turkish media) at an official cocktail party this Wednesday,
Feb. 7, in Istanbul. The reception will be attended by two senior members of
our commercial team.

The OPET Q&A.doc is an internal document only.

We are routing this information as an FYI in the event that the reception
receives media attention in Europe.

If you have any questions please do not hesitate to call me.

Thank you-
Meredith x 57141


Hey,

It's 8:30 and I'm still at work.  Did I mention I really need this vacation?
Anyway, I have a couple of questions for you.  Is there anything special
you'd like me to bring over (that your Mom isn't getting for you).  I talked
to your Mom yesterday and she mentioned a craving for Turkey Jerky.  If you
want me to bring some over just let me know where to buy it.  Also, do you
have any predictions for the weather.  I'm planning on bringing the following
- jeans, sweatshirt, black pants & skirt, black cardigan, "rain coat" (I put
it in quotes b/c I know mine won't be official), some "go out" close, running
shoes, heels, and boots, 2 sweaters, varying tops, and a pair of shorts.  I
always end up over-packing, but I'm really going to try to pare down.  I'm
assuming you have a blow-dryer so I can leave mine at home.

I talked to Darren today and he said Friday sounded good...and, I sent an
email to Nick so hopefully it will work for him as well.  I also emailed
Jessica's friend Ashley who's living over there and she wanted to get
together maybe for lunch or something over the weekend.

I've been checking out the Tube Maps on the Web and don't think I should have
much of a problem getting to your place.  I assume I'm going to want to get
off at the Holland Park tube stop.  Should be a piece of cake, right?

Any bright ideas of how to get your extra set of keys to me Friday morning?
I guess there isn't really anywhere for you to hide them around your flat
(i.e. under the doormat or over the door frame?).

See you soon,
Susan

- I may have to pump Darren for a little bit of info Friday night (subtly of
course)...Like did he know that I didn't know about Ted's "past" - maybe you
can find out why the marriage ended.


CALENDAR ENTRY:	APPOINTMENT

Description:
	birthday lunch for Kim @ Churrasco's

Date:		8/29/2000
Time:		11:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Oh why not.  You probably need to get an overview of the entire deal, as you
may want some outside help.  If we are building a plant and selling power,
there are lots of folks at Enron who weigh in on it.

Kay

From: Carlos Sole on 04/20/2001 09:08 AM
To: kay.mann@enron.com
cc:

Subject: term sheet template

Would I the one to handle a PPA term sheet with a potential offtake party for
a Wisconsin-based peaker facility that someone in Ben's group, Ron Tapscott,
is developing.

Carlos Sole'
Senior Counsel
Enron North America Corp.
1400 Smith Street
Houston, Texas 77002-7361

(713) 345-8191 (phone)
713 646-3393 (fax)
----- Forwarded by Carlos Sole/NA/Enron on 04/20/2001 09:05 AM -----

	Ron Tapscott@ECT
	04/20/2001 08:56 AM

		 To: Doug Sewell/Enron@EnronXGate, Carlos Sole/NA/Enron@Enron
		 cc:
		 Subject: term sheet template

Doug,

see attached term sheet for NMC (Arpin, WI site).  Please provide comments
and changes as appropriate (plus add language for your insurance product in
the place holder).

Carlos,

Doug and I will provide you background.  I am not sure if you are the
appropriate Legal Support (please direct us to the appropriate person if you
are not).

This is a starting point and is fairly general (to facilitate discussions
with NMC).

Thanks, Ron.


---------------------- Forwarded by Eric Bass/HOU/ECT on 10/06/2000 08:22 AM
---------------------------

Jackson Logan
10/05/2000 04:57 PM
To: Errol McLaughlin/Corp/Enron@ENRON, Victor Guggenheim/HOU/ECT@ECT, Darron
C Giron/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT,
John_biegel@dell.com, bgalligan@mail.utexas.edu,
carey.t.ford@us.arthurandersen.com, jknight@knightrealestate.com,
gkaminski@dttus.com, Brian_Thorp@AIMFUNDS.COM, JAMES.SIVCO@chase.com,
tifftalbot@hotmail.com, jmwooton@yahoo.com, njw4@worldnet.att.net,
KHunter75@aol.com, ttalbot@bmoh.com, RCOLLINS@graubassett.com,
cameron.moates@us.pwcglobal.com, atransou@wsgr.com, onion@pdq.net,
shack4@alumni.utexas.net, ECard10007@aol.com, therter@velaw.com,
ryaf@softchoice.com, Madeofmetal@Sprintmail.Com, LtColby.H@att.net,
Stefanie_Wagenfeld@AIMFUNDS.COM, cshi@dynegy.com
cc:
Subject: Fwd: FW: TX/OU

---------------------- Forwarded by Jackson Logan/HOU/ECT on 10/05/2000 04:55
PM ---------------------------

"Tara Talbot" <ttalbot@bmoh.com> on 10/05/2000 03:58:29 PM
To: <Peter_Bourland@adc.com>, <JLewis1342@aol.com>, <jrayb10104@aol.com>,
<rsteel@border.net>, <RMassey@Central.UH.edu>, <JRBridenstine@cs.com>,
<ajohnston@doubleclick.net>, <kevins@emerging.com>, <chad.starnes@enron.com>,
<Jackson.Logan@enron.com>, <christine_petru@gensler.com>,
<ed_cardenas@hotmail.com>, <tifftalbot@hotmail.com>,
<Ashley_Morrison@lotus.com>, <jameslhull@msn.com>, <johnwheeler@pzlqs.com>,
<pkettler@reliantenergy.nl>, <ryaf@softchoice.com>,
<carey.t.ford@us.arthurandersen.com>, <Ronnye.E.Kettler@USA.conoco.com>
cc:
Subject: Fwd: FW: TX/OU

>>> "knust@ruf.rice.edu" 10/05/00 03:40PM >>>

-----Original Message-----
From: Brian Gourley Salomon Smith Barney WATS 800 890-2774
[mailto:gourleyb@swbell.net]
Sent: Thursday, October 05, 2000 11:39 AM
To: William Marsh; Zac McCarroll (E-mail); Trey Wadsworth; Susan Burkley;
Stephanie Friedman; Shea Morenz; Ryan Kraudel (E-mail); Ryan Donelson; MIke
Green; matt long; Martin Morgades; Mark Bauman; Luke Belsnnyder; Keith
McPherson; kd_buchanan@yahoo.com; kawise@hotmail.com; JASON HOELSCHER;
Foster Stained Glass; Ed Fisher; dwinfrey01@yahoo.com; David Odom; dave
distephano; cmartinez@houstonnefingrp.nefn.com; Chuck Girard;
chadh@rocketball.com; Carter Perrin; Brandon Calvo; billb@myriad.net;
asebert@utmb.edu; amartinez@lawhbc.com; Alan B. Knust; adam_butler@gsdm.com
Subject: TX/OU

Horns fans, print this off and put on your burnt orange.  Someone sent me
this a year ago, and it still gives me the chills.

Hook 'em

Brian

 - WHATISLONGHORNSPIRIT.DOC


Attached is the Weekly deal report for 9/6/01-9/12/01.

Lex Carroll
Enron East Power Marketing, Inc.
Midwest Origination
713-853-5426


I thought about giving you a personal Happy Birthday wake up call this
morning when I got up, but I thought after the night before you probably
needed all the sleep you could get.  So see here I was being nice...there's
just no pleasing some people.

I got home about 10 last night which I was pretty excited about.  But no
sooner did I get comfortable as I got a call from Rock.  AAAAAAHHHHHHHH.
Sorry that just slipped out.  I'll have to vent later.

I'll give you a birthday call later.
Robin

Gabriel Monroy
12/13/2000 08:00 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Thanks

Don't you think that you are going to get away with just leaving a message.
I am waiting for a more personal Happy Birthday call.

Thanks anyways.

What time did you get out of here yesterday?

Gabriel


Attached is the draft CA for Intergen.  Note that there are still several
blanks in the Agreement that I need information to complete.  Please review
and let me know if you have any questions.